FinTech Global FS Regulatory Round-up – w/e 2 June 2023

Advertisers using AI-generated content face complex transparency requirements that vary significantly between the UK and EU. While UK law focuses on preventing consumer deception without explicit AI labelling mandates, the EU AI Act introduces strict disclosure obligations for 'deep fakes' that could catch even UK-based campaigns if they reach EU audiences.

The National Cyber Security Centre emphasizes five critical areas requiring director-level attention: risk management, strategy, people, incident planning and response, and assurance oversight. Organizations must establish robust governance frameworks to address evolving cyber threats and ensure comprehensive resilience across their operations.

As of 2 August 2026, the EU AI Act’s transparency obligations under Article 50 are now in effect, with one limited exception for providers of AI systems generating synthetic audio, image, video or text content that...

A recent ruling from the U.S. Bankruptcy Court has paved the way for Celsius Network to continue its $4 billion lawsuit against stablecoin issuer Tether.

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance

The European Data Protection Board has released a unified DPIA template for public consultation, marking a significant shift from fragmented national practices to coordinatead EU-wide compliance. This standardization effort aims to transform data protection impact assessments from procedural documents into substantive design accountability tools, requiring organizations to demonstrate not just that they conducted assessments, but that their processing activities can withstand rigorous evaluation.

The Financial Stability Board (FSB) has published a letter from its Chair and Governor of the Bank of England, Andrew Bailey, to G20 Finance Ministers and Central Bank Governors.

The Europe Quantum Technology Market Report estimated the European quantum technology market to be worth almost $2.5 billion in 2021, with an estimated growth of 21.1% between 2021 and 2031...

The EU Cyber Resilience Act introduces mandatory reporting obligations for manufacturers of digital products starting September 11, 2026. What vulnerabilities and incidents must be reported, how quickly must notifications be made, and what are the consequences for non-compliance? Understanding these requirements is crucial for manufacturers and their customers as the regulatory landscape for cybersecurity evolves.

Nobody builds systems that way anymore, which is roughly his point about the systems everyone is building today. He thinks large language models are simply the current enabling technology, and that in 10 years we’ll find it remarkable that we ever thought this was how you did AI