EU AI Act enters into force, fintech high-risk obligations begin (Aug 2024)

European Commission issued Regulation in force affecting EU fintech and credit on August 1, 2024.

Primary

European Commission

Regulator

EU fintech and credit

Structure

Regulation in force

Date

August 1, 2024

Sub-sector

Regtech

EU AI Act enters into force with credit scoring and life/health insurance pricing classified as high-risk, kicking off staged compliance obligations for fintech and creating an EU-specific regtech budget cycle.

Primary company

European Commission

Counterparty

EU fintech and credit (Regulator)

Amount

—

Event date

August 1, 2024

Sub-sector

Regtech

HQ

EU

Structure

Regulation in force

Source published

August 1, 2024

Publisher

European Commission

Source: digital-strategy.ec.europa.eu