Australia: Issued AISC report concerning AI governance in financial services
Description
Issued AISC report concerning AI governance in financial services
On 29 October 2024, the Australian Securities and Investments Commission (ASIC) adopted a report noting the importance of updating governance frameworks in line with the rapid adoption of artificial intelligence (AI) by financial services and credit…
Scope
Policy Area
Design and testing standards
Policy Instrument
Performance monitoring requirement
Regulated Economic Activity
ML and AI development
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body