Tag: FCA
42 articles tagged FCA
CII warns insurers' AI governance is outpacing staff capability
The Chartered Insurance Institute says firms are deploying AI faster than their people can challenge it, and rejects human review as an automatic safeguard.
Barclays engineer says AI agents need kill switches by design
The bank's principal AI engineer puts telemetry, permission boundaries and programmatic kill switches ahead of model capability for agents in production.
FCA warns of AI 'arms race' in landmark finance review
The FCA's Mills Review, a first-of-its-kind regulator study, finds 11 million UK adults ready to let AI make financial decisions for them, often unprotected.
FCA rethinks regulation for the AI age, eyes agentic watchdog
FCA chief Nikhil Rathi says the regulator must shift from rule-making to stewardship as AI outpaces legislation, trialling agentic AI to monitor markets.
Using AI for financial advice? Experts urge caution
With 28 million UK adults using AI for personal finance, experts warn the tools make confident but costly errors and carry no accountability to users.
NatWest deploys AI across trade finance operations
NatWest is automating document checks and money-laundering screening in trade finance with Cleareye.ai, as the FCA pushes banks to test AI in real conditions.
FCA reopens AI Input Zone, demanding evidence — not theory — from UK banks
The Financial Conduct Authority is pressing UK financial firms to evidence AI governance and assurance in live operations, with submissions to the AI Input Zone open until 19 June 2026.
BoE, FCA and Treasury issue joint warning on frontier AI cyber risk
The Bank of England, FCA and HM Treasury have told UK regulated firms to harden cyber defences against frontier AI-driven attacks, citing 'step-change' capabilities.
BaFin launches 'IT spotlight' AI cyber inspections of German financial firms
Germany's BaFin warns AI cyber risks are 'substantial' and announces targeted 'IT spotlight' inspections of financial firms — a likely template for the FCA and PRA.
FCA names eight firms for second AI Live Testing cohort with Barclays and Lloyds
The FCA confirms Barclays, Experian, Lloyds (Scottish Widows), UBS and four others will live-test AI applications with regulator and technical partner Advai.
Lloyds launches AI investment 'satnav' through Scottish Widows
Lloyds becomes the first UK lender to pilot an AI investment guidance tool, with Scottish Widows testing the product through the FCA's AI Live Testing cohort.
UK regulators hold urgent talks over Anthropic Mythos cyber risks
Bank of England, FCA and NCSC convene emergency discussions with major banks after Anthropic's AI model exposes thousands of software vulnerabilities.
UK financial regulators keep principles-based AI stance in 2026
FCA, PRA and Bank of England hold to a technology-neutral AI approach in 2026 as Treasury Committee warns 'wait-and-see' risks consumer harm.
FCA faces privacy concerns over Palantir AI trial with sensitive data
The UK's Financial Conduct Authority is paying Palantir over £30,000 a week for a three-month AI trial analysing its data lake of case files and consumer data.
Palantir wins FCA contract to analyse sensitive financial data
The US AI firm will spend three months mining the Financial Conduct Authority's intelligence files, raising fresh privacy and sovereignty questions.
FCA Warns AI Risk Assessment Systems Failing to Improve Anti-Money Laundering Controls
The Financial Conduct Authority says AI models used to assess money laundering risks in professional services are producing unreliable results, with new law firms automatically assigned medium risk ratings.
FCA Opens Second AI Live Testing Cohort Applications
UK firms with mature AI proof of concepts can apply for regulatory support to test in real market conditions. Applications close 2 March 2026.
FCA Launches Long-Term Review of AI in Retail Financial Services
The UK financial regulator is examining how AI could reshape consumer relationships, market competition and regulatory frameworks, with recommendations due this summer.
FCA Launches AI Live Testing Initiative for UK Financial Services Firms
Major UK financial institutions including NatWest, Monzo and Santander join FCA programme to test AI safely in live market conditions.
Napier AI Selected for FCA Supercharged Sandbox Launch
London RegTech firm joins inaugural FCA AI programme backed by NVIDIA to combat £150bn annual UK money laundering losses with advanced AI algorithms.
