The Regulators photograph

The Regulators

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Originally published September 24, 1996
Authors Stephen King
Followed byDesperation
GenresHorror Fiction
Page count480
Country United States
Date of Reg.
Date of Upd.
ID1411265
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About The Regulators


The Regulators is a novel by American author Stephen King, writing under the pseudonym Richard Bachman. It was published in 1996 at the same time as its "mirror" novel, Desperation.

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... The white paper outlines five principles that The Regulators should consider to enable the safe and innovative use of AI in the industries they monitor: • Safety, security and robustness: applications of AI should function in a secure, safe and robust way where risks are carefully managed• Transparency and " explainability" organisations developing and deploying AI should be able to communicate when and how it is used and explain a system s decision-making process in an appropriate level of detail that matches the risks posed by the use of AI• Fairness: AI should be used in a way which complies with the UK s existing laws, for example on equalities or data protection, and must not discriminate against individuals or create unfair commercial outcomes• Accountability and governance: measures are needed to ensure there is appropriate oversight of the way AI is being used and clear accountability for the outcomes • Contestability and redress: people need to have clear routes to dispute harmful outcomes or decisions generated by AIOver the next year, regulators will issue practical guidance to organisations to set out how to implement these principles in their sectors...

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... And I think there s a real pressure on us for ourselves, and The Regulators not to repeat that situation, " he said...

Government promises robust crypto regulation

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... " We are paying close attention to these plans and to The Regulators plans, because we would not want our constituents to think cryptocurrencies are any less risky if they are regulated, " she said...

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... " Through increased monitoring and transparency, driven by government, The Regulators have launched the largest criminal and civil investigations into water company sewage treatment works ever...

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... " The instructions provided with the tests are reviewed and agreed with The Regulators prior to approval for use...

Government promises robust crypto regulation

Apr 4,2022 6:30 pm

By Tom SingletonTechnology team

The government is announcing measures to " robustly" regulate the cryptocurrency industry.

It says the Proposals , being published on Wednesday, will give consumers confidence while allowing the sector to " thrive".

Critics say ministers should take a cautious approach, given the industry's prolonged global slump.

The Crisis has seen companies collapse, crypto values tumble and customers lose huge sums of money.

The Treasury says its Proposals - on which it is launching a consultation - will:

Ministers say the measures will " mitigate The Most significant risks" of crypto technologies, while " harnessing their advantages".

Economic Secretary to the Treasury Andrew Griffith said the government remained " steadfast in our commitment to grow the economy and enable technological change and Innovation - and this includes crypto-asset Technology ".

" But we must also protect consumers who are embracing this new Technology - ensuring robust, transparent and fair standards, " he added.

Even when the crypto market was booming, in 2021, calls for regulation were loud.

After The Chaos of 2022, the calls for order are now deafening.

Hundreds of billions of pounds were wiped from the crypto landscape and companies and people went bankrupt thanks to scandal after scandal.

The UK's plan to finally put concrete Proposals in place will be welcomed by consumer investors hit in their pockets.

But I expect the consultation to be fiery, with many different groups wading into The Debate about How To tame The Wild beast of Bitcoin and other digital coins.

Part of the original appeal of cryptocurrency was its independence of traditional financial networks.

Moves to allow establishment control will infuriate a core group of True Believers .

But with The Right form of regulation, others will argue, the industry could truly blossom.

Last Year , Rishi Sunak , then Chancellor, said he wanted to make the UK.

But since then, the industry worldwide has been buffeted by a series of crises - Most recently, the collapse of the FTX exchange, which prosecutors have described as " one of the biggest financial frauds in US history".

The value of crypto assets has also fallen sharply, with Bitcoin now worth less than half of its highest price of More Than $67,000.

'Wild West '

The so-called crypto winter has raised questions about whether the industry can ever be effectively regulated.

Conservative MP Harriet Baldwin, who chairs the Treasury Committee, told Bbc News it had heard evidence of " truly Wild West behaviour" But also recognised there was " valuable technological Innovation happening that could benefit the UK economy".

" We Are paying close attention to these plans and to The Regulators ' plans, because we would not want our constituents to think cryptocurrencies are any less risky if they are regulated, " She Said .

Jason Guthrie, product head at global asset-management company Wisdom Tree , said the sector had a bright future. The " devil would be in the detail" he told Bbc News , But he " absolutely welcomed" regulators looking at cryptocurrency - and The Right regulation would be in the interests of the industry as well as customers.

" Having a solid a regulatory framework, having enforcement capabilities, is really important for consumer confidence, " Mr Guthrie said.

" The sooner we have details around concrete Proposals , the easier it is to plan for and build towards. "

'Open for business'

Jeremy Barnett, a barrister and honorary professor of algorithmic regulation, at University College London, said the UK had much to gain, as entrepreneurs were currently choosing to Set Up elsewhere.

" If you don't have a proper regime, you drive people Off Shore , " He Said .

" I want to see people who have cryptocurrency services and products encouraged to open for business in the UK.

" We should be in this Space - But it does need to be regulated and policed. "

The government's consultation on its Proposals Will Close on 30 April, with any responses then considered by ministers.

Once any legislation is put to Parliament, it will be The Job of the regulator, the Financial Conduct Authority, to draw up the detailed rules the sector will have to Follow .



Source of news: bbc.com

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