The Hong Kong Monetary Authority (HKMA) has imposed additional principles on the use of big data analytics and artificial intelligence (BDAI) and specifically, generative artificial intelligence (GenAI) by authorized...more
Canadian fintech industries, particularly digital payments, digital trading, robo-advising and open banking, continued to experience significant growth until 2022. The pace of innovation had been accelerated by expansive...more
In This Issue. The Consumer Financial Protection Bureau (CFPB) reminded institutions of a new threshold for reporting Home Mortgage Disclosure Act data about open-end lines of credit; the Financial Crimes Enforcement Network...more
Since 2016, record keepers for large 401(k) plans have been defending litigation over investment advice provided by the Financial Engines investment advice algorithm. (This kind of arrangement is commonly referred to as...more
With the rapid development of technology, there is an increasing trend of intermediaries providing investment services and distributing investment products over the internet. Whilst the Securities and Futures Commission...more
“Hello, Dave. You're looking well today.” In the iconic science fiction movie, 2001: A Space Odyssey, the HAL 9000 computer courteously greeted his astronaut human companion Dave Bowman. HAL was a Heuristically...more
Editor's Note - In This Issue. The New York Department of Financial Services issued its highly anticipated cybersecurity regulation in its final form, the Securities and Exchange Commission (SEC) issued updated guidance...more