More sections of this document available when you sign-in to Lexis+ or register for a free trial.
Law360, Expert analysis: Artificial intelligence is rapidly transforming the financial services industry. From personalised customer support to improving risk assessment and compliance, AI is reshaping how financial institutions, consumers and markets operate. On 31 October 2024, Sarah Breeden, the deputy governor of the Bank of England (BoE), announced that it had found that 75% of firms now use some form of AI in their operations. While the technology is still evolving, the potential for AI in financial services is wide spanning and will enable the industry to become much more efficient, transparent and autonomous. Katie Simmonds, managing associate, Amy Battinson, solicitor, and Michael Lewis, partner, at Womble Bond Dickinson explore the predicted trends in AI within the financial services sector, highlight the regulatory risks and consider what we can expect over the next year.
To continue reading this news article, as well as thousands of others like it, sign in with ³ÉÈËÓ°Òô or register for a free trial
EXISTING USER? SIGN IN CONTINUE READING GET A QUOTE
To read the full news article, register for a free Lexis+ trial
**Trials are provided to all ³ÉÈËÓ°Òô content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these ³ÉÈËÓ°Òô services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
* denotes a required field
The risks of cryptoassets from a financial crime, money laundering and terrorist financing perspectiveWhat are cryptoassets?One of the hurdles in relation to understanding non-traditional currencies and assets lies in the inconsistent use of language. Regulators and tax authorities, as well as
UK regulation of financial innovations and fintechSTOP PRESS—Impact of the Retained EU Law (Revocation and Reform) Act 2023: This document contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is
0330 161 1234