The JFSC publishes its 2024 technology and innovation deliverable plan.
22/04/2024
In the JFSC Innovation Hub 2023 report, there is a list of x6 deliverables in 2024 – these are as follows.
- Continued outreach and engagement with technology-focused businesses and entrepreneurs
- Amendments to Section 4 of the AML/CFT handbook in respect of digital ID
- Review the data collected through the VASP registration process and the subsequent exploration of enhancements to the regime.
- Review and update the initial coin offering guidance and asset tokenisation guidance.
- Internal work reviewing the regulatory impact of the Artificial Intelligence Report
- Deployment of the JFSC AI regulatory chatbot to improve user experience and process efficiency – this will focus on the AML/CFT/CPF Handbook initially, with plans to expand content and functionality.
The JFSC Innovation Hub has published the JFSC 2023 annual innovation report.
- The Innovation Hub is a strategic initiative which supports innovation in financial services.
- It is designed to facilitate communication and collaboration between the JFSC industry stakeholders and the wider JFSC.
About the JFSC innovation report - Each year the JFSC produce a report detailing:
- What the Innovation Hub has achieved in the previous year
- Insights on global trends and initiatives
- What the JFSC are planning for the upcoming year
Key global trends and initiatives which the JFSC discuss in the report include:
- The impact of artificial intelligence
- Open banking and open finance
- Virtual assets, blockchain and asset tokenisation
- The tokenisation of real-world assets
SOURCE
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.