Dr. Angelika Hellweger | 14 June 2024
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Angelika Hellweger was asked by Law360 for her thoughts on the Labour Party’s plans for financial regulation and new technologies if it forms the next government.
Labour has suggested there would be a new era of more flexible regulation, with new demands placed on the Financial Conduct Authority and the Prudential Regulation Authority and the creation of a regulatory innovation office to deal with new technologies, including AI.
Angelika outlined possible concerns about the proposed approach.
She said: "If every regulator assesses the AI-related risks itself, there is a chance of enforcement not being consistent over the different industries and sectors regulated by various bodies. And there is also the issue of regulators lacking resources to do this, anyway,’’
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