Bankwesen & Finanzen

Aktuelle eAlerts

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  15/01/2025

  China

  2025 – Topics that may Concern You

  Companies doing business in China constantly have to deal with changes in regulations and new laws. This will also continue in 2025.Topics such as the new PRC Company Law, new PRC Tariff Law, PRC Regulations on Export Control of Dual-Use Items, network data security management, data transfer, opening up capital markets to foreign investment, and raise of statutory retirement age of employees etc. will continue to be a concern for many companies in China in 2025.Complying with regulatory requirements is one of the key challenges for foreign companies and investors in China, not only in terms of...

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  20/12/2024

  Europe

  EDPB Opinion 28/2024: key takeaways on processing personal data in the context of AI models

  On 17 December 2024, the European Data Protection Board (EDPB) issued Opinion 28/2024 on certain data protection aspects related to the processing of personal data in the context of AI models, which offered timely guidance on AI issues, addressing questions on the anonymity of AI models, how controllers can demonstrate legitimate interest as a legal basis and how unlawful processing of personal data in the development phase affects the lawfulness operation of the AI model. Introducing new concepts The EDPB provides its own interpretation of certain stages in the AI models’ life cycle, such...

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  20/12/2024

  United Kingdom

  Avoiding bias in supervised machine learning tools

  On 11 December, the FCA published a research note on bias in artificial intelligence (AI). This publication is part of a series from the FCA exploring how AI intersects with financial services. The document does not constitute guidance for firms but aims to stimulate discussion on issues involved in building and implementing AI systems.The research note focusses on bias in supervised machine learning models. Supervised machine learning models predict outcomes (such as the future risk of someone making an insurance claim) based on past training data. The FCA focusses on how unjustified differences...

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  20/12/2024

  Slowenien

  Slovenia enacts Act on Purchasers and Servicers of Non-Per­forming Loans

  On 24 February 2024, the Slovenian Act on Purchasers and Servicers of Non-Performing Loans of Banks (Zakon o kupcih in serviserjih nedonosnih kreditov bank) entered into force. The Act transposes Directive (EU) 2021/2167 of the European Parliament and Council dated 24 November 2021 on Credit Servicers and Credit Purchasers into Slovenian law. The Act creates a legal framework for the comprehensive resolution of non-performing bank loans (NPLs), sets up mechanisms for their sale and servicing, seeks to improve NPL management, and fosters the development of the secondary NPL market...

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  19/12/2024

  Schottland

  Moveable Transactions - save the date: 1st April 2025

  Just in time for Christmas, three gifts of statutory instruments to implement the Moveable Transactions (Scotland) Act 2023 (the “Act”) have been made and laid before the Scottish Parliament. We can now look forward with certainty to the long-awaited reform of the law on taking security over moveable property in Scotland.This briefing provides an update on these SSIs and proposals for early 2025.

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  18/12/2024

  Schweiz

  Swiss regulator publishes its practice on the rules of conduct applicable when providing financial services

  On 22 November 2024, the Swiss Financial Market Supervisory Authority (FINMA) released its circular on the rules of conduct under the Financial Services Act (FinSA) and the Financial Services Ordinance (FinSO). This circular describes the requirements for the implementation of the rules of conduct. The circular also covers to a certain extent organisational measures of financial service providers as well as general definitions and regulations concerning the classification of clients.ScopeThe circular applies to financial service providers as defined in the FinSA subject to supervision by FINMA...

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