“Responsible experimentation”: will Boston’s AI blueprint lay foundation for future approach?
The City of Boston has unveiled new guidelines for generative AI, which some are touting as the blueprint for future approaches. We take a look at what the new guidelines mean, and how compliance teams can navigate AI risks safely.
CMA issues provisional findings of anti-competitive behavior in online chats
The U.K.’s Competition and Markets Authority has published provisional findings that 5 major banks engaged in anti-competitive behavior through business communications. Global Relay’s Director of Regulatory Intelligence, Rob Mason, unpicks the findings.
Industry Insights Report: Compliant Communications 2023
Global Relay's first industry insights report, which serves as a litmus test for market responsiveness to regulatory action for recordkeeping and communications compliance.
Proposed amendments to FINRA Rule 3110 alter regulatory expectation for WFH
FINRA has published amendments to Rule 3110.19, which would alter the frequency that on-site visits are conducted for home offices.
Fed report on SVB crash: time for a change?
The U.S. Federal Reserve Board has published its review into the collapse of Silicon Valley Bank, unveiling wide-ranging failures from both sides of the regulatory fence.
FSOC proposes changes to non-bank regulation loopholes
In light of recent market turbulence, the Financial Stability Oversight Council has set out proposals that will bolster its ability to assess the systemic importance of non-bank financial organizations for Fed oversight.
UK regulators take aim at WhatsApp: is this the first domino to fall?
The UK’s Prudential Regulation Authority has censured a bank for wide-ranging regulatory failings, including a lack of formal record keeping procedures to manage or retain WhatsApp messages.
OSFI Annual Risk Outlook: emerging risks in an evolving financial landscape
Canadian regulator, OSFI, has said that a culture of compliance is a “competitive advantage” in its 2023 Annual Risk Outlook. We take a look at four critical areas for the year ahead.
What do explainability and compliance have in common? It’s in the ‘AI’
As global regulatory bodies move to explore the implications of ChatGPT and other large learning models, we speak to Global Relay’s in-house experts about the importance of explainability.
£80k fine for Chief Information Officer who mismanaged IT migration
The Prudential Regulation Authority has fined the former Chief Information Officer of TSB £81,620 for his role in the mismanagement of a 2018 IT migration which saw hundreds of customers unable to access funds.
Fine for firm where iMessage blocker failed: cooperation is key
The U.S. regulator has shown that it really will reward firms that cooperate with enforcement action, in a fine issued for iMessage failures.