Compliance
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UK pushes financial firms to adopt privacy-enhancing technologies
Lawmakers and vendors are set to usher in an era of mutualized data insights. Are banks ready?
Bulletproof building: DTCC, AWS debut app resiliency prototype
The cloud provider and industry utility have jointly released a prototype and guidelines for building resilient financial services applications.
IBM outlines ‘hybrid’ AI approach as revenues rise
It’s been two years since IBM’s pivot to a hybrid cloud and AI strategy, and the tech giant saw strong earnings as it continues to invest in the watsonx platform.
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In ‘unusual’ move, Virtu fights $25m SEC fine for data safeguarding breach
Virtu disputes the regulator’s claim that employees had ‘unfettered’ access to consumer data.
Europe’s AI Act is taking shape. How will the UK respond?
As the EU pushes through a historic AI Act, its neighbor is left wondering how to keep up.
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SEC squares off with broker-dealers over data analytics usage
The Gensler administration has ruffled feathers in the broker-dealer community with a new proposal seeking to limit their use of predictive data analytics. But at the heart of this deal is something far more seismic: one of the first attempts by the SEC…
Industry divided on whether Europe should delay FRTB
Most bankers prefer to keep to earlier start date, even though it puts continent out of sync with US.
Third-party guidance spurs US bank rethink on fintech partners
For conventional vendors, banks say due diligence rules will be the toughest challenge
Waters Wavelength Podcast: IBM on generative AI
This week, John Duigenan from IBM joins the podcast to discuss generative AI.
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement.
BoE model risk rule may drive real-time monitoring of AI
New rule requires banks to rerun performance tests on models that recalibrate dynamically.
Clients versus compliance: banks hung up over WhatsApp fines
Most opt for outright ban, but some seek technological solutions to monitor private messaging.
Banks’ internal watchdogs bark back at ChatGPT
Generative AI has plenty of uses in finance, but banks must first overcome compliance headaches
This Week: Confluence Technologies, Genesis, LexisNexis, and more
A summary of the latest financial technology news.
Nasdaq–Adenza: A look at the tech
The exchange operator announced its intention to acquire the software firm, which combines AxiomSL and Calypso, in a deal that amounts to its largest acquisition to date.
This Week: Europe’s Mifir review, MarketAxess, FIA, and more
A summary of the latest financial technology news.
Google urges regulators, market participants to clarify risk guidance for AI models
A new whitepaper from Google finds that existing guidance on the use of AI and ML models for risk management is a start, but leaves room for improvement.
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
Hidden danger: As AI permeates finance, cybersecurity moves to the forefront
Open-source wrappers like MLflow, though useful and popular, highlight the risks hidden beneath these models.
Amid tightening regulatory pressure, good data governance is key
Financial firms can’t afford to treat data governance as a one-off, check-the-box exercise. Instead, senior data management execs say, it should be treated as an ongoing series of regular health checks.
SEC cyber rules risk creating web of confusion and costs
The regulator’s proposals would require breach notifications, public disclosures and annual cyber assessments.
New chatbots reveal limitations of legacy API development
As large language models that underpin the likes of ChatGPT and Bard come to market, vendors and trading firms are starting to see the benefits—and challenges—that open APIs provide.
Waters Wrap: ChatGPT, data officers, and reaching new frontiers
As banks clamp down on large language models like ChatGPT, Anthony says that CDOs can help firms experiment with these chatbots while developing the proper governance structures.
A rough race begins: Industry faces uphill transition to T+1 settlement
With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue…