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Machine Learning Risk Assessment Financial Services Industry

K2 Integrity

A Collaborative Approach to Customer Risk Assessment

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Unlock a New Era of Customer Risk Assessment - Legacy customer risk rating (CRR) models—built on static KYC data and subjective judgment—are no longer sufficient in a world of dynamic threats and tightening regulatory...more

K2 Integrity

AI-Driven Risk Assessment: Enhancing Financial Crime Compliance And Internal Audit

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In an era of increasingly sophisticated financial crimes and evolving regulatory, compliance, and internal audit needs, financial institutions must continuously refine their risk assessment strategies. Traditional methods,...more

Mayer Brown

Applying the Enterprise Risk Mindset to AI

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Artificial intelligence (AI) and other emerging technologies have the potential to revolutionize the financial industry. At the same time, its use introduces new risks that need to be anticipated and addressed. This paper...more

Ankura

Enhancing Cross-Border e-Discovery and Data Breach Investigations with AI

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Today’s interconnected world presents significant challenges for managing cross-border e-discovery and data breach investigations. These processes—critical for legal proceedings and cybersecurity—are often complicated by...more

A&O Shearman

Financial Stability Institute insights paper on regulating AI in financial services sector

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The Financial Stability Institute of the Bank for International Settlements has published a policy implementation insights paper on developments and challenges relating to regulating AI in the financial services sector. The...more

Moore & Van Allen PLLC

CFTC Advisory On The Use of Artificial Intelligence: Buzzword or Bogeyman?

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Artificial Intelligence (“AI”) is everywhere you look right now. AI is a lot of things, but for most of the market it is simultaneously a buzzword for innovation and efficiency, and a bogeyman for fraud and privacy concerns....more

Goodwin

AI and Financial Stability: Questioning Tech-Agnostic Regulation in the UK?

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In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and...more

Kilpatrick

AI Cybersecurity Guidance Summary - NYDFS and Singapore CSA

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As regulators worldwide continue to scrutinize the impact of AI on industries within their respective purviews, two key global agencies issued guidance in October 2024 that highlighted AI-based cybersecurity risks and best...more

Baker Donelson

New York DFS Releases AI Cybersecurity Guidance

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The New York Department of Financial Services (NYDFS) issued new guidance (the Guidance) on October 16, 2024, to help state-regulated financial institutions mitigate the myriads of cybersecurity risks posed by artificial...more

K&L Gates LLP

Brussels Regulatory Brief: February 2024

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Antitrust and Competition - The European Commission Carried Out Unannounced Inspections in the Tires Sector - On 30 January 2024, the Commission conducted dawn raids at the premises of several companies active in the tires...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Winter 2024

The oversight obligations of boards continue to expand. Recent enforcement actions and new laws in areas such as cybersecurity, artificial intelligence and supply chains create new challenges for boards, as we explain in this...more

Troutman Pepper Locke

Biden Issues First Executive Order Directing Federal Agencies to Establish New Standards to Promote Safe and Secure Use of AI

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On October 30, President Biden issued a sweeping Executive Order calling on Congress to enact privacy laws and directing federal agencies to review existing rules and potentially explore new rulemakings governing the use of...more

Latham & Watkins LLP

AI in UK Financial Services - What’s on the Horizon?

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As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. As financial services firms digest FS2/23, the joint Feedback Statement on Artificial...more

Goodwin

Further Light on Generative AI and UK Financial Services Regulation

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In our previous alert, we noted the speech made by Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), which built on the points made in a joint paper published by the Bank of England (BoE) and FCA on artificial...more

Ballard Spahr LLP

CPPA publishes new draft regulations addressing AI, risk assessments, cyber audits

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The California Privacy Protection Agency (CPPA) recently published two new sets of draft regulations addressing a range of cutting-edge data protection issues. Although the CPPA has not officially started the formal...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

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In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

Skadden, Arps, Slate, Meagher & Flom LLP

Summary of 28th Annual Conference on Fair Lending and Consumer Financial Protection

Year In Review - Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more

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