The EU AI Act was entered into the EU’s statute books on July 12, 2024. A transition period will begin from 1 August when it enters into force.
For further information please see here.
Tracks financial services regulatory developments and provides insight and commentary
Marcus is a communications, media and technology lawyer based in London. He focuses on data privacy and IT services.
Background
The Financial Conduct Authority (FCA) announced on 13 October 2023 that it had fined Equifax Limited (Equifax), a credit reference agency and data, analytics and technology business, £11,164,400 for failing to manage and monitor the security of UK consumer data it had transferred to its parent company based in the…