FIA and the FIA Principal Traders Group have jointly responded to IOSCO’s report on Artificial Intelligence in Capital Markets: Use Cases, Risks, and Challenges. The response emphasizes that any IOSCO recommendations addressing AI in capital markets, including futures and derivatives, must be carefully developed, coordinated and practical.
The consultation response:
- Encourages IOSCO to take a technology-neutral approach when considering any additional tools, recommendations or considerations for IOSCO members. Instead, FIA encourages IOSCO, and its members more broadly, to focus on outcomes and use cases rather than the technology itself.
- Encourages IOSCO and its members to consider the applicability of their existing standards, rules and regulations before presupposing that new, AI-specific regulations are needed.
- Encourages IOSCO to support and encourage cross-border coordination and cooperation among members and across jurisdictions, to avoid a fragmented regulatory landscape.
Read the response here.
