Global Director of Financial Services Knowledge, Innovation and Product
Norton Rose Fulbright LLP
Simon Lovegrove is Global Head of Financial Services Knowledge based in London. His practice focuses on financial services and markets regulation.
Simon has designed regulatory change training programs for internal and external stakeholders including the Financial Conduct Authority (FCA) when it assumed responsibility for consumer credit regulation from the Office of Fair Trading. His clients are financial institutions and corporates, with regards to compliance with FCA and PRA requirements as well as the implementation of financial services legislation such as MiFID II, EMIR, BRRD, CRD IV, CRR and the AIFMD.
Recent Articles & Comments
We saw in the earlier update from the Netherlands that regulatory standards remain independent of the technology used and ESMA provides a timely reminder that the MiFID II requirements apply when firms use AI. We also expect to hear much more from ESMA on AI.
Global regulators are grappling with the same core questions about risks potentially created by AI and deep learning along with regulators in the U.S. In his speech, Mr. Hall described some of those risks and urged more collaboration on ways to control the behavior of future algorithms. From a U.S. perspective, readers may recall Gary Gensler and Lily Bailey’s "" article and related on five ways AI could lead to future financial crises.
These comments are important markers in the…