Nos derniers articles

The OCC reports that operational risk is elevated due to cyber threats and complex operations. Compliance risks are also significant, especially in areas like BSA/AML and fraud prevention. External fraud targeting consumers and banks is increasing, requiring strong fraud management practices. Banks should prioritize risk management, maintain sound controls, and educate customers to mitigate these risks.

The study assesses the impact of Europe's Single Supervisory Mechanism on banks' balance sheets, finding that centrally supervised banks have higher Tier 1 capital ratios. This is influenced by capital requirements, business models, and credit risk, particularly in countries with less stringent regulations, leading to increased resilience.

This article reviews the EU's Artificial Intelligence Act, highlighting its structure, scope, and key principles like fairness and transparency. It critiques the complexity of regulating high-risk AI, forbidden practices, and the risk of hindering responsible innovation despite an overall balanced framework.

Companies use #ai tools for #hr decisions, but they face a balance between benefits and #risks. With limited federal #regulation and complex state laws, employers seek guidance. The #model#riskmanagement#mrm framework, adapted from #finance, aids in managing #airisks for #employment choices. Proportionality lets employers adjust validation to risks and tech changes. Objective analysis and a competent MRM team ensure AI tools align with design and legal requirements, fostering trust and #compliance.

#financialinstitutions are increasingly using #machinelearningalgorithms for credit risk mgmt., #fraudprevention, and #aml. This paper presents robust evidence of using logistic regression, linear discriminant analysis, and neural networks for accurately predicting and classifying financial transactions for Volcker Rule #compliance. It provides a scalable minimum viable product to automate #controls testing.

This study explores the use of #ai #foundationmodels, specifically #chatgpt, in #auditing #esgreporting for #compliance with the #eu #taxonomy.

This paper explores the evolving role of #compliance in #digitaltransformation (#dt), as corporations globally embrace technology to enhance competitiveness and address responsible, #ethical, and #sustainable practices. It analyzes the current and potential role of Compliance in DT, emphasizing the need to manage #governance, #risk, and compliance aspects and leverage #esg objectives. The authors conducted interviews with Compliance heads and facilitated a Salon attended by General Counsel and Compliance professionals. The purpose is to encourage international discussions on Compliance's role in digital transformation.

This article highlights the importance of #cybersecurity in contemporary business models and the need for #legal practitioners and #it professionals to work together to assess the extent to which #privacy and #security measures qualify as "appropriate" in the context of #liability #claims and actions for #damages. The article provides guidance on how to move from technical insight to legal #compliance.

This paper discusses the efficiency, effectiveness, and costs of #denmark's #antimoneylaundering (#aml) #compliance standards. Although the country has caught up with international standards, the current global AML compliance system is ineffective in deterring #moneylaundering by professional actors. The system imposes significant costs on #banks and society, while spending too much time on minor infractions. To improve the system, the author argues for a #risk-based approach that automates large portions of the compliance process and allows compliance staff to focus on investigations.

As more #laws and #legal norms are introduced to enforce #esg standards, directors are required to ensure that their corporation complies with these standards. This encroaches on the #fiduciary relationship between directors and the corporation and weakens the Business Judgment Rule (#bjr) as directors must operate within the law and implement #compliance systems to keep up with the growing #esggoals.