In a speech delivered at the Investment Association Annual Conference 2024, Nikhil Rathi, Chief Executive of the UK's Financial Conduct Authority (FCA), outlined key international regulatory developments affecting the investment management sector. The UK, as the second-largest asset management centre globally, is at the forefront of these initiatives.
Acting Comptroller of the Currency Michael J. Hsu issued a sharp warning about the systemic risks posed by artificial intelligence to the financial sector and called for a new "shared responsibility" governance model in a major policy speech on Wednesday.
The U.S. Equal Employment Opportunity Commission (EEOC) has appointed Sivaram Ghorakavi to the senior leadership positions of Deputy Chief Information Officer and Chief Artificial Intelligence Officer, effective immediately.
The U.S. Securities and Exchange Commission (SEC) has kicked off its biennial effort to collect self-assessments on diversity policies and practices from regulated entities.
A Federal Court in Australia has ruled that Active Super, a $13.5 billion (AUD) superannuation fund, made misleading representations about its environmental, social, and governance (ESG) credentials and investments.
The European Supervisory Authorities (ESAs) and the European Union Agency for Cybersecurity (ENISA) have signed a multilateral Memorandum of Understanding (MoU). This agreement formalizes ongoing discussions and sets the framework for strengthened cooperation and information exchange between the agencies.
The Office of the Australian Information Commissioner (OAIC) has filed civil penalty proceedings against Medibank Private Limited in the Federal Court, alleging serious privacy breaches related to the health insurer's massive data breach in October 2022.