Artificial intelligence accountability places regulated entities under sole responsibility for data protection, AI outputs, and legal compliance. Regulation 16C imposes sole responsibility on Board-regulated persons using artificial intelligence or machine-learning tools, whether internally ... Summary
Artificial intelligence accountability places regulated entities under sole responsibility for data protection, AI outputs, and legal compliance.
Regulation 16C imposes sole responsibility on Board-regulated persons using artificial intelligence or machine-learning tools, whether internally developed or obtained from third-party providers. Responsibility extends to the privacy, security and integrity of investor and stakeholder data, AI-generated outputs relied upon or dealt with, and compliance with applicable laws. The coverage includes tools used internally or offered for investing, trading, investment advice, compliance, management and other business purposes. Breaches may result in enforcement action.
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