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.
Tag: Regulation
89 articles tagged Regulation
AI law firm wins English court case in a legal first
Garfield AI prepared every document for a £7,000 county court claim won by a freelancer who paid about £400 — believed to be the first trial won using an AI lawyer.
Retailers seek AI-ad exemption from EU disclosure rules
Eurocommerce, whose members include Amazon and H&M, asks the EU to exempt AI-generated ads from AI Act disclosure rules taking effect on 2 August.
MHRA publishes public views to shape AI healthcare rules
The MHRA has released two reports on public and clinician attitudes to AI in healthcare, feeding the National Commission's regulatory recommendations due this summer.
UK regulators warn banks over frontier AI cyber threats
A joint FCA, Bank of England and Treasury statement warns frontier AI can automate cyber-attacks at scale, pushing banks to revisit testing and operational resilience.
Doctors could be sued for AI mistakes, NHS warned
The Medical Protection Society warns doctors risk becoming a 'liability sink' for errors made by clinical AI tools unless UK law is overhauled to share blame.
UK launches AI Growth Labs with legal services first in line
The government has unveiled AI Growth Labs, secure testing environments to fast-track AI products through UK regulation, starting with the £40bn legal sector.
ECB to press banks on defences against AI cyber threats
The European Central Bank will send a 'dear CEO letter' urging euro-area banks to take targeted measures against fast-evolving AI-driven cyberattacks.
Every leading AI model fails EU law checks, study finds
A study by non-profit Aithos found all 12 leading AI models broke EU law in compliance tests, with the weakest failing in 93% of scenarios.
ICO sets out plan to government for safe AI innovation
The UK's data regulator has told ministers how it will give businesses regulatory certainty on AI, including an AI code of practice and agentic AI guidance.
UK AI regulation: King's Speech, Crime Act and ICO converge in May
Osborne Clarke's May regulatory roundup tracks the AI provisions of the Crime and Policing Act 2026 alongside new ICO cyber guidance and EU AI Act developments.
ECB warns private-credit-fuelled AI boom poses risk to financial system
European Central Bank stress scenario projects 5–6% asset losses for Eurozone pension funds in an AI-driven private-credit shock, with insurers and banks also exposed.
Pope Leo's first encyclical urges world to slow AI development
Pope Leo XIV's debut encyclical Magnifica Humanitas calls for binding AI regulation, warns autonomous weapons are slipping beyond human control.
EU AI Act Omnibus extends high-risk deadlines to 2027, widens SME relief
The EU's 7 May AI Act Omnibus agreement extends high-risk AI system deadlines to December 2027 and extends SME compliance simplifications to mid-caps up to 750 staff.
King's Speech sets out cyber and AI regulatory overhaul for UK
The King's Speech bundles Computer Misuse Act reform, a Cyber Security and Resilience Bill, and a Regulating for Growth Bill covering AI into one legislative push.
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.
EU strikes deal to delay AI Act high-risk rules and exempt industry
Restrictions on high-risk AI uses will be postponed to December 2027, and most industrial AI applications are exempted, after pressure from Germany and the US.
ASML, Airbus and Mistral lead CEO call for simpler EU AI rules
CEOs of seven major European tech firms including ASML, Airbus, Mistral and SAP have urged the EU to simplify AI regulation as the bloc reopens AI Act talks.
UK police facial recognition is outpacing oversight rules
Live facial recognition is being deployed by UK police and retailers faster than regulators can keep up, with the Met scanning over 1.7 million faces this year.
UK biometrics watchdogs warn police AI oversight is years behind rollout
Met scans 1.7M faces in 2026 (+87%) as commissioners say facial recognition law is at least three years away and Police.AI rollout outpaces regulation.
EU AI Act trilogue stalls overnight — August compliance date back in play
Parliament and Council failed to agree on the Digital Omnibus reform after 12 hours of talks. Without a deal next month, Annex III rules apply on 2 August 2026.
Telegraph: AI alarm bells should be ringing in Downing Street
The Telegraph's editorial board argues the OpenAI investment pause exposes fundamental flaws in Britain's energy costs, planning system, and industrial strategy.
OpenAI pauses Stargate UK data centre project over energy and regulation
OpenAI has put its multi-billion pound UK data centre project on hold, citing high energy costs and regulatory barriers that threaten the government's AI ambitions.
FRC Issues First UK Guidance on AI in Corporate Auditing
The UK's Financial Reporting Council has published the first framework for audit firms using generative and agentic AI, as Big Four accelerate rollouts.
Turing Institute chair Doug Gurr steps down for permanent CMA role
Dr Doug Gurr leaves the Alan Turing Institute after his appointment as permanent CMA chair, with an interim successor named and new CEO starting in May.
UK Government Backtracks on AI Copyright After Creative Sector Outcry
Technology Secretary Liz Kendall confirms the government has dropped its preferred approach to AI copyright, following widespread opposition from artists including Sir Elton John and Dua Lipa.
US Treasury publishes AI risk framework for financial services
New guidebook from 100+ financial institutions offers structured controls for AI governance, from bias monitoring to incident response procedures.
CMA warns AI agents may push consumers toward worse deals
The UK's Competition and Markets Authority says agentic AI assistants risk manipulating consumer choices and prioritising their creators' commercial interests.
Judge blocks Perplexity AI agents from shopping on Amazon
A US federal judge has ordered Perplexity to stop its Comet browser AI agents from placing orders on Amazon, citing strong evidence of unauthorised access.
Police AI Chief Admits Crime-Fighting Tech Will Have Bias
National AI lead Alex Murray acknowledges bias in policing AI tools including facial recognition, as £115m national centre aims to minimise risks.
21 Police Forces Still Using AI Copilot Despite Hallucination Scandal
Sky News reveals most English police forces continue using Microsoft Copilot after West Midlands Police blocked the tool over fabricated evidence in an Israeli football fan ban.
AI wealth distribution debate intensifies as labour displacement fears grow
Economists and policymakers grapple with how to fund public services and redistribute prosperity in a world where AI replaces most human work.
UK Treasury Appoints AI Champions to Accelerate Financial Services Adoption
Starling Bank and Lloyds executives named as AI Champions to help financial firms seize AI opportunities while maintaining consumer protection.
Google DeepMind Expands UK AI Safety Partnership
DeepMind announces expanded research partnership with UK AI Security Institute, focusing on chain-of-thought monitoring, socioaffective alignment and economic impact.
AI Chatbots Giving Misleading Financial Advice, UK Research Warns
Popular AI chatbots including ChatGPT and Microsoft Copilot provide inaccurate tax advice and misleading money tips, Which? research reveals.
EU Considers Delaying AI Act Implementation Amid Business and Trump Pressure
European Commission explores grace periods and flexibility for AI Act compliance after pressure from 46 European companies and Trump administration threatening tech tariffs.
UK unveils AI Growth Labs to slash red tape and accelerate innovation
Government announces regulatory sandboxes for AI testing in healthcare, housing and professional services to drive growth