- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The expansion of the scope under MiFID II will make it far likelier for market participants to be caught within EU regulators’ crosshairs without even realizing it. Some tips for avoiding that fate are inside.
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The Markets in Financial Instruments Directive and the Consolidated Audit Trail will be vital tools for regulating a financial sector increasingly moving at speeds too fast to follow.
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.
