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In a major move for international tax reform, FRC aligns FRS 102 and FRS 101 with OECD's Pillar Two rules. Aimed at clarity and user satisfaction, these amendments ensure minimum taxation by multinational groups in each jurisdiction.

RegTech, the tech industry's response to intricate regulatory compliance, innovatively fuses financial services, regulations, and technology. It uses AI, machine learning, big data, and cloud computing to automate and optimize regulatory processes.

The EDPS is adapting to evolving data protection challenges. Sectors and a task force were established to enforce data protection laws and promote responsible AI use. The EDPS prioritizes safeguarding privacy and data protection rights.

Enhanced Due Diligence (EDD) is a thorough process in the financial sector, used to manage risks. It examines high-risk clients and transactions for money laundering or terrorist financing. EDD involves scrutinizing backgrounds, relationships and financial activities to assess risk and compliance.

The Basel Committee consults on revised Core Principles for banking supervision, reflecting industry changes since 2012. These principles are minimum standards applied globally, evaluated by the IMF and World Bank in their FSAP.