The Prudential Regulation Authority has fined UK Insurance Limited £10.625 million after errors in the insurer’s Solvency II balance sheet caused it to overstate its solvency position in regulatory reporting and market disclosures.
The European Parliament has voted overwhelmingly to strengthen protections for copyrighted works used in artificial intelligence systems, signaling growing concern among lawmakers that generative AI is reshaping the economics of creative industries without clear rules for compensation or consent.
Ericsson has begun notifying individuals that their personal information may have been exposed in a data security incident involving one of the company’s service providers.
The Securities and Exchange Commission has fined the New York Stock Exchange $9 million after a systems failure caused widespread disruption when markets opened in January 2023, skipping the opening auction process for thousands of stocks and triggering volatility across the market.
The Singapore Police Force and the Monetary Authority of Singapore said they recently conducted a joint enforcement operations against Capital Asia Investments, a firm licensed to provide capital markets services in the city-state. The operation resulted in the arrest of two company directors and the seizure of more than $119 million USD (over S$160 million) held in the firm’s bank and securities accounts.
The Australian Securities and Investments Commission announced Tuesday that it has withdrawn two regulatory guides and made technical updates to two others as part of a broader effort to streamline its body of regulatory guidance for industry.
Governance, risk, and compliance software provider AuditBoard has announced it is rebranding as Optro, a move the company says reflects the growing role of artificial intelligence in how organizations manage risk, compliance, and internal audit.