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Recent Editions
Risk Channel
North America
The Federal Trade Commission (FTC) has opened a broad investigation into the safety of AI systems developed by Anthropic and OpenAI, although the scope of the probe has not been disclosed. The investigation comes as the Trump administration argues that existing consumer protection and other laws can be used to hold AI companies accountable rather than immediately introducing a new regulatory framework. FTC chair Andrew Ferguson has cautioned against adopting new AI-specific rules before assessing existing laws, while Vice President JD Vance has said the FTC and Justice Department will act as federal watchdogs over the industry. The probe follows heightened concerns over the safety of increasingly capable AI systems, with Anthropic and OpenAI executives proposing a coordinated slowdown to allow more time for safety measures.
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Risk Channel
UK/Europe
UK lender NatWest faces allegations from Philip Adkins, the former CEO of shipping company Red Box Energy Services, who claims Coutts, its private bank, closed his account based on incorrect financial information. Adkins's lawyers assert that Coutts misrepresented his wealth at £62m and falsely said he had dealings with Goldman Sachs. He has launched a data-protection claim, saying the inaccuracies had prompted a US Department of Justice investigation into his finances. Adkins claims that "false" Coutts records caused him "serious distress."
Full Issue