5 Brass tacks to achieve compliance with AI and ML

The lucrative business of banks selling their customers “financial advice” coupled with financial products has been in the spotlight recently with the events that have shaken up the banking and financial services world. The most notable ones are the investigations of the Royal Commissions into the misconduct of the banking and superannuation industry, the misconduct charges of £264 billion fined by EU on the top 20 banks, the Wells Fargo fake accounts scandal and the nearly 1000 cases of fraud reported to FINRA resulting in a fine of $61 Million in 20184.

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