- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2022-04-15T17:02:00
President Joe Biden announced his intent to nominate Michael Barr, a key architect of the Dodd-Frank Act and former Treasury Department assistant secretary, to serve as the Federal Reserve’s vice chair for supervision.
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Michael Barr, a professor and former top official at the Treasury Department, was confirmed by the Senate as vice chair for supervision at the Federal Reserve.
Jerome Powell is set to begin his second term as chair of the Federal Reserve after receiving bipartisan support in a Senate confirmation vote.
Sarah Bloom Raskin, President Joe Biden’s pick to be vice chair for supervision at the Federal Reserve, withdrew her nomination after losing the support of a key Democratic senator.
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.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
