AI, Technology & Data

AI Risk & Governance

US FTC Probes OpenAI’s ChatGPT Over Consumer Protection Concerns

By Editors | 17/07/2023

A key focus of the investigation is the possibility of ChatGPT generating false, misleading, or disparaging statements about real individuals.

Operational Risk

APRA Finalises New Cross-industry Standard on Operational Risk

By Sanday Chongo Kabange | 17/07/2023

Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

AI Risk & Governance

UK FCA Outlines Plans for Regulating AI and Big Tech

By Manesh Samtani | 16/07/2023

The FCA will address competition issues raised by Big Tech firms and potentially expand the SMCR to apply to “the most senior individuals managing AI systems”.

Structural Regulation

RBA Commences Overhaul Process after Comprehensive Review

By Sanday Chongo Kabange | 14/07/2023

Starting 2024, the RBA will introduce new changes to the way the central bank is managed and how its board handles monetary policy.

Operational Risk

BSP Issues Draft Guidelines on Operational Resilience

By Mark Johnston | 14/07/2023

Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

Fraud, Scams & Cybercrime

FFC Asia 2023: Professional AI Skills Needed in Financial Crime Fight

By Ranamita Chakraborty | 13/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime conference stressed the need to up-skill financial sector professionals so they can use AI in fighting financial crime.

Cloud & Infrastructure

HKIMR Report Urges Focus on Financial Inclusion and Sustainable Innovation

By Editors | 13/07/2023

The report highlights the need for continuous investments in human capital and skills development to foster innovation.

Data Privacy

HK Privacy Commissioner Issues Guidance on Data Breach Handling

By Editors | 13/07/2023

The guidance emphasises the need for organisations to develop comprehensive data breach response and post-incident action plans.

Structural Regulation

Hong Kong Enacts Amendments to Facilitate Electronic Submissions to Official Receiver

By Editors | 12/07/2023

The focus of the amendments is to facilitate the electronic submission of specific documents to the Official Receiver, allow for electronic proxies, and introduce other improvements.