Senate Bill Would Force FSOC to Go Beyond AI Talk
Sen. Mark Warner (D-VA) now joined by Sen. Kennedy (R-LA) introduced S. 3554, legislation focused on the AI risks also identified by FSOC in its most recent annual report (see Client Report FSOC29). However, this bill would force FSOC to do more than the “wait-and-see” approach it plans, requiring it instead to lay out a response to potential AI-generated systemic risk and identify and then act on regulatory gaps.
IOSCO Releases DeFi Policy Recommendations
The IOSCO today released its final report on decentralized finance with a series of policy recommendations aimed at investor protection and market integrity. Global securities regulators call for more analysis of DeFi products and services, common standards of regulatory outcomes, identification of conflicts of interest and material risks, and more comprehensive disclosure requirements.