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Dec 2, 2024 | 
mondaq.com | Andrew Henderson |Glynn Barwick |Chris Ormond |Matthew Dixon-Ward
GP
Goodwin Procter LLP
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At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 1,600 lawyers across the United States, Europe, and Asia excel at complex transactions, high-stakes litigation and world-class advisory services in the technology, life sciences, real estate, private equity, and financial industries.
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Nov 21, 2024 | 
jdsupra.com | Glynn Barwick |Matthew Dixon-Ward |Andrew Henderson
On 14 November 2024, Chancellor Rachel Reeves delivered her inaugural Mansion House 2024 speech, announcing a collection of reforms designed to drive growth and competitiveness in the financial services sector. The Chancellor emphasised that ‘the UK has been regulating for risk, but not regulating for growth’. Instead, she wants the sector to ‘innovate, grow, and seize the opportunities for investment in businesses, infrastructure, and clean energy across Britain’.
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Nov 6, 2024 | 
jdsupra.com | Glynn Barwick |Matthew Dixon-Ward |Andrew Henderson
In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and machine learning. The letter followed the UK Government’s publication of its pro-innovation strategy, in February of this year.
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Oct 28, 2024 | 
jdsupra.com | Matthew Dixon-Ward |Andrew Henderson |Jack McCarthy
The European Commission’s adoption on 23 October 2024 of the two regulations (Regulations) supplementing the [the Regulation on digital operational resilience for the financial sector Publications Office (europa.eu)] (DORA) is a further reminder that the need for DORA compliance is now less than three months away. DORA came into force on 16 January 2023 and will apply starting on 17 January 2025.
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Oct 3, 2024 | 
mondaq.com | Andrew Henderson |Simon Thomas |James C. Taylor |Matthew Dixon-Ward
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Goodwin Procter LLP
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At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 1,600 lawyers across the United States, Europe, and Asia excel at complex transactions, high-stakes litigation and world-class advisory services in the technology, life sciences, real estate, private equity, and financial industries.
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Oct 2, 2024 | 
jdsupra.com | Matthew Dixon-Ward |Andrew Henderson |James Taylor
For any UK fintech business involved with payments of electronic money (e-money) and any (experienced) investor in these businesses, safeguarding client funds is a key regulatory issue. The Financial Conduct Authority (FCA) consultation on changes to the safeguarding rules for FCA-authorised payments and e-money firms, “CP24/20: Changes to the safeguarding regime for payments and e-money firms“ (Consultation), is therefore noteworthy. What is The Consultation about?
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Aug 12, 2024 | 
jdsupra.com | Matthew Dixon-Ward |Andrew Henderson |Céline Moille
The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Artificial Intelligence Act), came into force on 1 August 2024.
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Aug 12, 2024 | 
mondaq.com | Andrew Henderson |Gretchen Scott |Matthew Dixon-Ward |Adelina Popescu
The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European
Parliament and of the Council of 13 June 2024 laying down
harmonised rules on artificial intelligence and amending
Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013,
(EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives
2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Artificial
Intelligence Act), came into force on 1 August 2024.
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Jul 30, 2024 | 
jdsupra.com | Matthew Dixon-Ward |Andrew Henderson |Jack McCarthy
The publication by the Joint Committee of the European Supervisory Authorities (ESAs) on (a) 17 July 2024 of the second batch of implementing materials and (b) 26 July 2024 of the sub-contracting of information and communication technologies draft regulatory technical standard (RTS) under [the Regulation on digital operational resilience for the financial sector Publications Office (europa.eu)] (DORA) are reminders that the need for DORA compliance is less than six months away.
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Apr 26, 2024 | 
jdsupra.com | Glynn Barwick |Matthew Dixon-Ward |Andrew Henderson
In our previous alert AI and Machine Learning in UK financial services: the public response to the FCA and PRA | Insights & Resources | Goodwin (goodwinlaw.com), we discussed the response in FS 2/23 of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to its discussion paper on artificial intelligence (AI) and machine learning. On 22 April 2024, the FCA published its AI Update (fca.org.uk) (Update).
