Global Regulators Ramp Up AI Oversight in Finance

 

🤖 Global Regulators Ramp Up AI Oversight in Finance

  • Regulators around the world are pushing for tighter scrutiny of artificial intelligence (AI) use in banking and finance, citing growing model risk, systemic frailties, bias, and stability concerns. Reuters

  • The Financial Stability Board (FSB) warned that if many institutions rely on the same AI models and hardware, the market could fall into herd behaviour, amplifying shocks. Reuters

  • The Bank for International Settlements (BIS) echoed that central banks and regulators must upgrade their technical capabilities to monitor AI deployment and interpret its systemic effects. Reuters+1

  • In Europe, rules like DORA (Digital Operational Resilience Act) are already influencing how banks must manage tech and AI risks, imposing resilience and transparency standards. Reuters

  • Germany’s financial regulator BaFin is using AI internally to detect market abuse, improving detection of irregular trading patterns. Reuters


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