- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The European Central Bank has extended its review of banks’ internal risk models up to four years. The banking supervisor plans on conducting a thorough examination on how some of the Eurozone’s biggest banks are calculating its capital. Deutsche Bank, Santander, and Société Générale are some of the financial institutions ...
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A sea change in risk is happening at big banks: Non-financial risks (read: regulatory compliance failures) are now driving the compliance conversation at large firms more than financial risks. “You can have adequate capital, adequate liquidity; but if you have the wrong kind of culture, that is where the problems ...
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.
