The Shape of Things to Come: Regulation by Artificial Intelligence

From: Computer Business Review

Promontory Financial’s team of 600 professionals will train Watson to help manage financial risk and compliance.

IBM is planning to acquire the US-based consulting firm Promontory Financial Group in order to transform regulatory compliance with its Watson cognitive computing platform.

Promontory advises clients on several financial services matters, including regulatory issues, compliance, risk management, liquidity, restructuring, and cyber security.

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Cybersecurity Flaws at FDA Put Health Data at Risk, GAO Says

From: Bloomberg Technology

  • 87 weaknesses in FDA’s systems include lack of firewalls
  • Agency needs a complete risk assessment, report says

Computer systems at the U.S. Food and Drug Administration are riddled with weaknesses that make confidential, personal health information vulnerable to potential hackers, a government watchdog said.

A review of the FDA’s online information systems found more than 80 weaknesses including a lack of cybersecurity firewalls, according to the Government Accountability Office, Congress’s investigative arm.

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Topic Teardown: Fed’s Robo-Car Policy

From: EE | Times

Junko Yoshida

PARIS — It’s been a week since the Department of Transportation unveiled its ground-breaking policy on autonomous cars. Pretty soon, we expect reality to start sinking in among the auto industry experts who are presumably digesting the DoT’s 116-page document.
There are still 50-some odd days to file comments on the new rules.


 Protests are likely against the DoT’s demand for pre-market approval for autonomous cars, regulations on post-sale software updates, the inclusion of cybersecurity measures in vehicles, suggestions on data recording/sharing, and on fall-back minimum risk conditions.

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Consortium Forms Framework for Industrial Cybersecurity

From: EE Times

Rich Quinnell

SEATTLE: The Industrial Internet Consortium (IIC) has released the initial version of its Security Framework for industrial Internet of Things (IIoT) development. The Framework, an adjunct to the IIoT Reference Architecture the Consortium released last year, seeks to initiate a process that will result in broad industry consensus on how to secure IIoT systems. The goal is to ensure that security is a fundamental part of an IIoT system’s architecture, not simply bolted on, and covers the system end-to-end including endpoint devices and the links between system elements.

Much Ado About ‘Minimum Standards’ for DFS Cybersecurity Regulation

From: Inside Counsel

Why is there a need for New York’s proposed regulation, and what will be the practical impact for financial and other institutions across the country?