Articles by author
Unravelling the Travel Rule: AML requirements for cryptoasset businesses
The Financial Action Task Force (FATF) recently updated its guidance for Virtual Assets and Virtual Asset Service Providers (VASPs) in October 2021 including on its Recommendation 16 that certain transfers of cryptoassets must be accompanied with identifiable originator and beneficiary information. The application of Recommendation 16 to VASPs has caused controversy, as it is regarded as being very difficult to comply with by the industry. This article explores whether the proposed implementation of the Travel Rule in the UK addresses any of the commonly cited practical difficulties with compliance (which are particularly pronounced for unregulated firms or start-ups that may be unaccustomed to being scrutinised in this way) in light of the most recent guidance.
1 DEC 2021English law in the 21st century: does it need an update to accommodate crypto?
The recent Law Commission Digital Assets Consultation Paper proposes the creation of a third category of personal property under English law. The article focuses on identifying some of the practical consequences of this proposal from a financial services perspective. This is achieved by summarising some of the main points made in the consultation and considering the potential impact for the use of English law.
1 OCT 2022Unlocking the predictive power of AI in the investment management industry
Artificial intelligence (AI) typically “learns” through data points that are fed into its system. Firms using AI-powered tools in the provision of financial services will need to navigate the risks of using such technology, including ensuring there is data integrity to mitigate against the risk of embedded biases within the system’s decision-making process. Transparency and explainability are key to ensuring the decision-making processes of the AI technology can be clearly articulated to clients and regulators. This article considers the regulatory implications of relying on AI in financial services by considering the example of investment advice or portfolio management.
1 FEB 2024
