ARTICLE · 09 SEPTEMBER 2024

European Developments - Horizon Scanner: Finance

Arthur Cox

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The European Commission's targeted consultation on artificial intelligence (AI) in the financial sector closes on 13 September 2024.

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Sinead Cantillon

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ARTIFICIAL INTELLIGENCE IN THE FINANCIAL SECTOR

The European Commission's targeted consultation on artificial intelligence (AI) in the financial sector closes on 13 September 2024. The consultation included questions on the development of AI, specific use cases in finance and on the AI Act related to the financial sector.

The development and use of AI in the EU will be regulated by the AI Act. Watch the new series by our Technology and Innovation Group on the AI Act here: The EU AI Act.

BANK RESOLUTION

The EBA's consultation on the draft Handbook on independent valuers for resolution purposes runs until 19 September 2024. The EBA developed the handbook to improve the process of selecting independent valuers and facilitating its implementation by resolution authorities. The draft handbook also identifies some safeguards or measures which could be set in place to mitigate the effects of the potential conflict of interest or circumstances hampering the

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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