The BCBS agreed to continue assessing bank use of AI/machine learning, finalise a crypto framework by year-end, and develop measures to address climate risks.
September 16, 2022Vice chairman Kim So-young said the FSC will remove barriers that prevent financial services firms from making use of big data and AI technology effectively.
August 9, 2022The regulatory framework includes a set of principles for capital market entities to adopt in their use of AI/machine learning.
August 2, 2022The guide highlights the need for banks to establish proper data and AI governance frameworks, and maintain continuous control over AI-based solutions post-implementation.
May 2, 2022The BCBS is exploring banks' use of AI/ML, specifically in the areas of explainability, governance, and resilience and financial stability.
March 18, 2022Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.
August 17, 2021Regulators should leverage existing frameworks that largely already address and mitigate the key risks associated with the increased use of AI.
June 25, 2021The majority of authorities surveyed by the FSB had a SupTech, innovation or data strategy in place. SupTech is most commonly used in regulatory reporting and data management.
October 12, 2020IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.
June 26, 2020A new paper develops a regulatory roadmap for addressing the increasing role of AI in finance, focusing on human involvement to deal with ‘black box’ issues.
March 12, 2020