The EBA published final draft technical standards revising the European banking sector's Pillar 3 disclosure requirements on environmental, social and governance risks. The package also introduces new disclosure requirements covering equity exposures and aggregate exposures to shadow banking entities, completing a major portion of the implementation work required under the Capital Requirements Regulation 3 (CRR3).
Organizations around the world woke up on June 12 to discover that a capability available the day before was suddenly gone. Anthropic's Fable 5 and Mythos 5 models, among the company's most advanced artificial intelligence systems, were reportedly taken offline following a U.S. government directive requiring access to be restricted to American citizens. Because verifying every user's nationality in real time was not practically feasible, Anthropic reportedly responded by shutting down access altogether. The decision affected users far beyond the United States, including organizations in Australia, Canada, New Zealand, and the United Kingdom. According to multiple reports, it also cut off access for the UK's AI Security Institute while it was actively evaluating the systems.
Australia's communications regulator has found that SBS breached gambling advertising rules during its broadcast of the Tour de France after airing a Crown advertisement that described the company as a "premier casino resort." At first glance, the advertisement appeared to sit comfortably within an exception that allows broadcasters to air promotions focused on dining and entertainment facilities at venues where gambling takes place. The commercial featured Crown's restaurants, entertainment offerings and accommodation.
The video game industry has become one of the largest and most data-intensive sectors of the digital economy. European privacy regulators are now signaling that the industry's rapid technological evolution must be matched by equally mature approaches to data protection.
Europe's banks are making money, lending is growing, bad loans remain near historic lows and capital ratios sit close to record highs. That is the easy part of the European Banking Authority's latest assessment of the sector. The harder part is explaining why a report that contains so many reassuring numbers reads, at times, like a warning.
The federal government moved Thursday to extend core anti-money laundering controls to the stablecoin sector, proposing rules that would require permitted payment stablecoin issuers to verify the identities of their customers and maintain formal customer identification programs.
The Italian Competition Authority (AGCM) said it has launched a market investigation into the country's motor insurance sector, a review that will be conducted jointly with insurance supervisor IVASS. The inquiry will examine whether parts of the market's structure (including risk classification systems, claims procedures and consumer switching mechanisms) are working as intended or creating obstacles to competition.