EU moves forward with AI regulation

Innovations in financial crimes – How artificial intelligence and machine learning are changing the game

The use of artificial intelligence in the EU will now be regulated by the AI Act to ensure that AI developed and used in Europe complies with EU rights.

On 14 June, the European Parliament adopted its negotiating position on the AI Act with 499 votes in favour, 28 against and 93 abstentions, ahead of talks with EU member states on the final decision

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FCA overwhelmed by feedback on naming and shaming

Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator will “really take our time” when considering its proposed plans to name firms it is investigating before any decision has been made.