Artificial Intelligence Compliance: The Next Big Challenge for Risk Managers.

Wes Cude Regulation

Financial services firms have been leading the charge in the development of artificial intelligence systems to improve service, reduce costs, mitigate risks, and drive through efficiencies. Until now, AI systems have been largely developed in a legal and regulatory vacuum but the European AI Act, which will impact many UK firms in the same way as GDPR did, is set to change all that. New Link Consulting summarises here the key provisions of the Act and offers practical advice regarding what firms should be doing now to get ahead of the game.

EMIR REFIT – Trade Reporting

Wes Cude Regulation

Further to the introduction of the European Market Infrastructure Regulation (EMIR) in 2012 and subsequent revisions in 2015 and 2017, the REFIT program (Regulatory Fitness and Performance Program) was instigated. The purpose of the REFIT for Trade Reporting, which commenced in 2019, has been to review the issues identified in the years since reporting obligations were introduced and to use these findings to enhance the accuracy of Trade Reporting, through improved data quality and industry standardisation.

Summary of the PSD3 Proposal

Wes Cude Regulation

On 28 June 2023, the European Commission published a proposed legislative package that seeks to modernise and harmonise the existing regulatory framework for electronic payments throughout the European Union (EU) and European Economic Area (EEA), currently regulated by the Second Payment Service Directive (PSD2).

What is SFTR?

New Link Editor Regulation

Following the financial crisis, both securities lending and repurchase transactions came under increased scrutiny as they were perceived to have contributed to the build-up of hidden leverage in the market. Regulators sought to introduce Securities Financing Transaction Regulation (SFTR), covering three key requirements: transaction reporting, disclosure obligations and collateral reuse obligations. SFTR is a sweeping mandatory change for the securities …

Brexit Insights

New Link Editor Regulation

An interview with New Link Consulting Partner Tom Masters discussing the ramifications of Brexit on the Financial Services Industry and preparations firms should make.