Regulators

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Meta sues Ofcom over fines regime for breaches of Online Safety Act

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Facebook and Instagram owner claims charges should not be calculated based on a company’s global revenueMeta has launched a legal challenge against the UK’s media regulator over the fees and fines regime it is enforcing under landmark digital safety legislation.The Facebook and Instagram owner is claiming that Ofcom’s methodology for calculating the charges is flawed […]

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Global finance watchdog warns over private credit industry fuelling AI boom

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Financial Stability Board report reveals tech, healthcare and services sectors as the biggest borrowersThe private credit industry’s role in fuelling the AI boom could backfire, with a sharp correction leading to “sizeable” losses, the Financial Stability Board has warned.A new report into private credit by the global watchdog, which monitors financial authorities including central banks

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Apple subsidiary fined by UK government over Moscow sanctions breach

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Apple Distribution International, based in Ireland, made payments worth £635,000 to a Russian streaming serviceThe UK government has fined a subsidiary of Apple £390,000 for breaching sanctions against Moscow over payments it made to a Russian streaming platform.Apple Distribution International (ADI), based in the Republic of Ireland, instructed an unnamed UK-based bank to make two

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MPs urge UK government to halt contract giving Palantir FCA data access

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Awarding US spy-tech company deal involving sensitive financial data is ‘huge error of judgment’, Liberal Democrats sayMPs have urged the government to halt its latest contract with Palantir, after the Guardian revealed the US spy-tech company is to gain access to a trove of highly sensitive UK financial regulation data.The Financial Conduct Authority, the watchdog

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FCA deal gives Palantir yet more access to inner workings of power in Britain

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Contract affords AI analytics firm access to trove of data on one of the most important financial centres in the worldPalantir extends reach into British state as it gets access to sensitive FCA dataPalantir’s latest UK contract takes the AI and data analytics company into the heart of one of Britain’s biggest industries: financial services,

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Palantir extends reach into British state as it gets access to sensitive FCA data

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Exclusive: Allowing US tech firm to analyse intelligence in name of tackling fraud raises fresh concerns over privacyFCA deal gives Palantir yet more access to inner workings of power in BritainPalantir is to be granted access to a trove of highly sensitive UK financial regulation data, in a deal that has prompted fresh concerns about

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Apple and Google pledge not to discriminate against third-party apps

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Tech firms say they will be more transparent about vetting apps for app store in voluntary agreement with UK regulatorApple and Google’s commitment to avoid discriminating against apps that compete with their own products under an agreement with the UK’s competition watchdog have been labelled “lightweight”.The US tech companies have vowed to be more transparent

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UK media groups should be allowed to opt out of Google AI Overviews, CMA says

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News organisations hope proposals will increase leverage to get paid if content is used in AI summariesWeb publishers and news organisations could be given the power to stop Google scraping their content for its AI Overviews, under measures announced by the UK competition watchdog to loosen its grip on online search.Media organisations have experienced a

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Coinbase adverts banned in UK for suggesting crypto could ease cost of living crisis

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Advertising Standards Authority says firm advised by George Osborne ‘trivialised risks of cryptocurrency’A cryptocurrency company advised by George Osborne has been banned from showing a set of adverts that suggested using its services could be a solution to the cost of living crisis.Coinbase, which appointed the former Conservative chancellor to chair its global advisory council

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UK exposed to ‘serious harm’ by failure to tackle AI risks, MPs warn

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Government, Bank of England and FCA criticised for taking ‘wait-and-see’ approach to AI use in financial sectorConsumers and the UK financial system are being exposed to “serious harm” by the failure of government and the Bank of England to get a grip on the risks posed by artificial intelligence, an influential parliamentary committee has warned.In

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