Cybersecurity
Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T
Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.
CrowdStrike outage spurs rethink on ‘critical’ vendors
Some want US regulators to designate tech firms that pose risks to financial stability
IBM report finds ‘shadow’ data significant contributor to data breaches
As AI and cloud take on greater importance in the capital markets, firms need to consider their threat impact zones.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Wrap: After CrowdStrike crisis, will anyone learn?
Several bank and hedge fund sources tell Anthony that while there’s plenty to be learned from the CrowdStrike bug, some will more than likely forget those lessons in a few weeks’ time.
Insurers deny cyber premiums are rising
Contrary to banks’ complaints, underwriters and brokers claim current market for policies is soft.
Regulators urged to promote cyber security investment
Public interest in stopping cyber attacks that could trigger bank runs, says Bundesbank researcher
Big questions remain over Dora’s critical third parties
Industry looks for clarity on critical third parties ahead of July 17 regulatory technical standards for the EU’s Digital Operational Resilience Act.
The IMD Wrap: The risks of becoming AI-rich and memory-poor
Like Alice in Wonderland, Max disappears down the rabbit hole of AI to discover a world that is sometimes fantasy—and sometimes a nightmare.
Verafin launches genAI copilot for fincrime investigators
Features include document summarization and improved research tools.
Waters Wrap: Open source and storm clouds on the horizon
Regulators and politicians in America and Europe are increasingly concerned about AI—and, by extension, open-source development. Anthony says there are real reasons for concern.
Court case probes open-source licenses as movement stands at crossroads
The Software Freedom Conservancy’s lawsuit against TV-maker Vizio begins trial in California, raising questions about open-source licenses and the risks posed by adhering to them.
Dora technical standards shoot for break in the clouds
One goal of the EU’s latest ICT risk act is to mitigate cloud concentration. Some experts say it may make it worse.
Elephant in the room: Balancing AI innovation with cloud projects
Voice of the CTO: While generative AI is today’s hot topic, bank technologists explain how they’ve spent years planning for this day, even if cloud had been the main focus. And to be sure, skeptics remain.
AI expert warns of algo-based market manipulation
An artificial intelligence professor warns of machine learning ‘arms race’ for regulators against those seeking to use new technologies to manipulate financial markets.
Waters Wrap: A glimpse of 2024 through the looking glass of 2023
Anthony examines some of the biggest stories from the past year to preview what might be ahead.
Citi’s internal cloud project gets open-sourced
Through Finos, a project that started internally to help Citi get a better handle on its cloud controls now includes the likes of Goldman Sachs, Morgan Stanley, RBC, BMO and LSEG.
UK pushes financial firms to adopt privacy-enhancing technologies
Lawmakers and vendors are set to usher in an era of mutualized data insights. Are banks ready?
Vendors under new scrutiny in CFTC due diligence push
The planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audits.
Waters Wrap: Big Tech’s subtle plans for capital markets domination
Amazon, Google, IBM and Microsoft aren't just cloud providers anymore—and their tentacles are going to spread deep into trading systems going forward.
People Moves: Northern Trust, Finbourne, HKEx, Broadridge, and more
A look at the past month’s people moves within the tech and data space, including Benze Lam (pictured), who becomes Northern Trust’s Hong Kong head.