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Saudi Arabia’s CITC Hosts 1st RegTech Symposium with Participation of Global Experts

Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
TT
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Saudi Arabia’s CITC Hosts 1st RegTech Symposium with Participation of Global Experts

Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance

Saudi Arabia’s Communications and Information Technology Commission (CITC) will host the first Regulatory Technologies (RegTech) symposium on Monday.

The symposium aims to shed light on the role and importance of regulatory technologies in governance, risk, and compliance management. It discusses a multitude of topics that range from the roles played by companies and institutes in regulation and oversight to the promising opportunities for startups and entrepreneurs.

The symposium will comprise lively panel discussions and engaging presentations, which in their entirety will lay the foundation for what RegTech is, examine the most promising opportunities for RegTech in the Kingdom, and sneak a peek into the latest global practices in RegTech. This will take place in the presence of some internationally-acclaimed experts as well as compliance and risk management specialists from various companies and regulatory bodies in the Kingdom.

Within its wide spectrum of topics, the symposium will put emerging and advance technologies under the spotlight for the purposes of emphasizing the role of those technologies in improving regulatory and supervisory performance, contributing to compliance, alleviating regulatory burdens, and increasing operational efficiency.

The event will also survey the most prominent RegTech solutions and emerging companies.

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Albania Bans TikTok for a Year after Killing of Teenager

A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
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Albania Bans TikTok for a Year after Killing of Teenager

A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)

Albania on Saturday announced a one-year ban on TikTok, the popular short video app, following the killing of a teenager last month that raised fears over the influence of social media on children.

The ban, part of a broader plan to make schools safer, will come into effect early next year, Prime Minister Edi Rama said after meeting with parents' groups and teachers from across the country.

"For one year, we'll be completely shutting it down for everyone. There will be no TikTok in Albania," Rama said.

TikTok did not immediately respond to a request for comment outside normal business hours.

Several European countries including France, Germany and Belgium have enforced restrictions on social media use for children. In one of the world's toughest regulations targeting Big Tech, Australia approved in November a complete social media ban for children under 16.

Rama has blamed social media, and TikTok in particular, for fueling violence among youth in and outside school.

His government's decision comes after a 14-year-old schoolboy was stabbed to death in November by a fellow pupil. Local media had reported that the incident followed arguments between the two boys on social media. Videos had also emerged on TikTok of minors supporting the killing.

"The problem today is not our children, the problem today is us, the problem today is our society, the problem today is TikTok and all the others that are taking our children hostage," Rama said.