- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
For years, a battle over the place of guidance in the regulatory world has been hotly debated. Now, there may be some clarity.
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Reacting, in part, to a recent statement by banking regulators regarding the role of guidance in their regulatory regimes, SEC Chairman Jay Clayton has clarified his own views on the topic.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
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.
