A telecom company is facing a hefty $2 million fine from federal regulators for its alleged role in transmitting an illegal robocall campaign that used artificial intelligence to spoof President Biden's voice days before the New Hampshire presidential primary.
The Office of the Comptroller of the Currency (OCC) today released its latest round of enforcement actions taken against national banks, federal savings associations, and individuals affiliated with OCC-supervised banks.
The Financial Conduct Authority fined the Hong Kong Shanghai Banking Corporation (HSBC) and Marks and Spencer Financial Services plc(HSBC) £6,280,100 for mishandling and mistreating customers who were financially vulnerable.
The Securities and Exchange Commission has fined Intercontinental Exchange Inc. (ICE) $10 million for failing to properly inform regulators about a cybersecurity breach at the company and its subsidiaries, including the New York Stock Exchange.
In a case highlighting risks around computer-driven trading, Citigroup's UK subsidiary was slapped with $68 million in fines by British regulators after a trader's fat-finger error caused over $1.4 billion of equities to be accidentally sold in a matter of minutes.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the National Association of Corporate Directors (NACD) have awarded a major contract to PwC US to assist in developing a comprehensive Corporate Governance Framework - the first of its kind for the United States.
The European Council has recently moved to approve a pioneering, risk based artificial intelligence regulation, known as the AI Act. After clearing the final procedural hurdle with approval from the Council of the EU, this landmark legislation is set to become the first comprehensive rulebook governing AI applications anywhere in the world.