- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Image: Britain’s Financial Conduct Authority has released new rules for its Senior Managers Regime, a compliance standard that will hold senior managers at financial firms personally accountable for corporate misconduct. “We have given clarity on rules that will embed personal accountability into the culture of the city,” Martin Wheatley, FCA ...
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Image: The Financial Conduct Authority released “near final rules” which shows how it will apply the new accountability regimes that hold employees accountable for misconduct in U.K. branches of overseas banks. These rules further explain the FCA’s accountability reform announcement last month that zeroes in on top executives at U.K. ...
Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
