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Financial Compliance: AI ethics
The Wolfsberg Group, an alliance of global banks, has issued guidelines for ethically deploying AI and machine learning in financial crime compliance. These technologies are recognized for their role in optimizing risk management in finance.
Regtech: Compliance Innovation
Regulatory Technology (RegTech) simplifies compliance through advanced technologies like AI, ML, and Blockchain. It enhances operational efficiency, ensures compliance, and fosters consumer protection in the face of complex regulations.
IFR/IFD compliance: how financial services can achieve it?
The 2019-introduced IFR/IFD sets new requirements for financial firms. Firms must identify compliance gaps, adjust governance and reporting, and create a thorough plan with staff training, tech upgrades, and ongoing checks to meet the 2023 deadline.
How Financial Services will be Compliant to BRRD Regulation?
In ensuring BRRD compliance, financial services must develop a crisis recovery plan, maintain requisite funds for recapitalization, and establish clear crisis governance. By adhering to these measures and regulatory updates, they promote financial system resilience.
Which are the financial regulations for compliance in EU?
The EU's crucial financial regulations for compliance are MiFID II and GDPR. MiFID II ensures transparency and protects investors in banking and securities. GDPR safeguards personal data. AMLD combats money laundering, while BRRD resolves failing banks.
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