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Evgeny Likhoded's RegTech X Weekly has moved ➡ to Corlytics. Sign up to continue receiving the round-up on LinkedIn 👉 : https://bit.ly/3OmV6Mr Find more industry news and updates in the complete version of RegTech X by Evgeny Likhoded, sign up to get it straight in your inbox 👉: https://bit.ly/3QzCRoX #regtechx #regtech #compliance #regulation #tech #AI #news #digest

Good morning! Hope you had a nice weekend. In this RegTech X digest, 🇨🇭 🤖 discussions at Davos'24, an influential global forum, sparked headlines about AI. 🌐 Global leaders at the World Economic Forum debated whether to regulate AI's effects or implement guardrails for AI itself. 📕 The Swiss banking watchdog warned that the lack of coordinated regulation for AI could have significant consequences. 🔖 Hernández de Cos emphasized the importance of financial regulation as a blueprint for policymakers at an AI-focused summit in Switzerland. 🗞 The World Economic Forum's newly released Global Risks Report 2024 highlights misinformation and disinformation as the highest short-term risks. Technological power concentration and cyber insecurity are also significant risks. 💸 Additionally, last week saw AML gaining attention with the unveiling of a provisional agreement by European Union policymakers on stricter anti-money laundering rules. 🔴 In the US, the SEC has charged JP Morgan $18 million for obstructing clients and brokerage customers from reporting breaches of law. JP Morgan has agreed to pay the penalty charge. 🇬🇧 While in the UK, the Consumer Duty remains a top priority for the FCA, even though the deadline for implementation has passed. The work for firms within its scope is not finished. Find further industry news and updates in the complete version of RegTech X by Evgeny Likhoded sign up to get it straight in your inbox 👉: https://bit.ly/3QzCRoX To ensure you continue receiving RegTechX on LN in the New Year, please sign up for👉 Corlytics #regtechx #regtech #compliance #regulation #tech #AI #news #digest

Good morning, and Happy Monday! In this RegTech X digest, crypto is again in the spotlight. ₿ The U.S. securities regulator (SEC) approved the first-ever U.S.-listed ETFs that track bitcoin's performance. This milestone decision is expected to drive billions into new funds and expose more investors to crypto investing. 💸 Fines of approximately €2.1 billion were imposed in the EU in 2023 for GDPR violations, and the latest Amazon data privacy lawsuit in the Netherlands may have broader public policy implications. 🍏 A lobby group representing Big Tech firms criticized proposals to regulate digital payment apps and wallets. 📗 According to Deloitte’s Regulatory Outlook, the year ahead poses significant challenges for banks, including operational, financial resilience, and conduct-related hurdles. 🔮 Sifted FT asked industry experts and released predictions for European FinTech in 2024. 💰 Global capital investment in fintech nearly halved in 2023 to $51 billion, with the UK seeing an even sharper decline, according to Innovate Finance data. I hope you have a great week ahead. Find further industry news and updates in the complete version of RegTech X by Evgeny Likhoded sign up to get it straight in your inbox. 👉: https://bit.ly/3QzCRoX To ensure you continue receiving RegTechX on LN in 2024, please sign up for👉 Corlytics   #regtechx #regtech #compliance #regulation #tech #AI #news #digest

  Good morning and Happy New Year! 🤖 2024 holds remarkable breakthroughs as AI revolutionises industries and reshapes our lives, pushing the boundaries of innovation and also bringing new developments in AI regulation.   ⚖ 2024 is expected to bring economic fluctuations, election uncertainties, political protests, and legal actions that will intensify regulatory challenges. 📘 KPMG has released their ninth annual Regulatory Insights, shedding light on the 10 regulatory challenges of the year. 🔍 The European Banking Authority (EBA) will also take steps to predict how strains in non-bank financial institutions, including cryptocurrency-related entities, will impact lenders. 🌿 Additionally, ESG continues to be in the spotlight, with the New York State Department of Financial Services providing guidance on managing climate change-related risks for regulated banking and lending institutions.   💡 The 2023 regulatory and financial crime compliance landscape was volatile and complex. Emerging from the pandemic, we faced challenges like geopolitical tensions, the cost-of-living crisis, and inflation. 💸 The Singapore money laundering case shed light on the region's anti-money-laundering capabilities, prompting financial institutions to strengthen their detection of financial crimes. 📈 Overall, the ongoing digital transformation in banking, including open banking and AI, will drive significant increases in regulatory technology spending in 2024 and beyond.   Thank you for following RegTech X, and let the new chapter begin.    Find further industry news and updates in the complete version of RegTech X by Evgeny Likhoded sign up to get it straight in your inbox 👉: https://bit.ly/3QzCRoX To ensure you continue receiving RegTechX on LN in the New Year, please sign up for👉 Corlytics   #regtechx #regtech #compliance #regulation #tech #AI #news #digest