LOOKOUT AI BRIEFING
Regulatory development
Review the captured development and its original source before taking action.
Main things to know
A concise summary of the captured article, so you can understand the development before deciding whether to read the full publication.
- Original source has published regulatory development, concerning financial-crime risk.
Actions to consider
- Confirm the effective date, scope, definitions, exemptions and transitional provisions in the original publication.
- Identify affected clients, products, territories and business processes, then assign an accountable owner.
- Record the assessment and decide whether underwriting, claims, broking or compliance guidance requires an update.
Implications for Lockton
- Compliance should determine materiality for Lockton entities and coordinate any client, placement, claims or market guidance.
- The relevant business owner should retain the source, rationale and action record for audit and governance purposes.