Katie SimmondsHM Treasury is consulting on its approach to modernising the regulation of payment services. The consultation notes that there are nearly 1200 firms carrying out payment services in the UK, regulated, variously, either...
Category - AI
Laura WilesFCA publishes AI in retail financial services review
The FCA has published a review looking at how AI could reshape retail financial services. The Mills Review, which was launched in January, looks at 4 major shifts likely to impact these markets: transformation of firm...
Emma RadmoreBoE speaks on agentic AI
Sarah Breedon has spoken on how agentic AI is helping to transform cyber risk, markets and payments, and how the BoE is using it. She considered: the drivers of transition and financial stability risks; the financial...
DRCF seeks views on consumer interest and AI
The DRCF is seeking views on: risks consumers feel they are exposed to and their attitude to risk in generative and agentic AI adoption (by 3 July); and the tools and framework that regulators and others have to manage...
FCA speaks on regulation in the age of AI
Nikhil Rathi – chief executive of the FCA – has delivered a speech on rethinking regulation in the age of AI at techUK’s Agents of Change: Generative and Agentic AI in Financial Services 2026 event...
FSB consults on responsible AI adoption
The Financial Stability Board is asking for views on a set of proposed sound practices to help financial institutions responsibly navigate AI adoption. It has proposed a set of 12 practices covering: governance;...
Treasury publishes AI Adoption Insights signatories
The Treasury has published the signatories to its AI Adoption Insights agreement, under which industry participants commit to sharing data and insights from their business to help develop the government’s...
Operational resilience group publishes frontier AI guidance
The Cross Market Operational Resilience Group (CMORG) has published its Firm Guidance for Frontier AI, consolidating a range of industry and public authority commentary on frontier AI models. These models –...
FCA opens “AI Input Zone” and asks for contributions
The FCA has reopened its AI Input Zone which forms part of its AI Lab, and is asking for views on what “good” looks like in safe and responsible AI development. The FCA wants to create a good and poor...
Regulators reject AI “wait and see” criticism
The Treasury Committee has published responses from the Treasury, FCA and BoE to its report on AI in financial services which warned of the risks of poor AI supervision. All three regulators reject the characterisation...
FCA publishes research on synthetic data and AML
The FCA has published a report summarising the work it has done with the Turing Institute and Plenitude Consulting on generating a synthetic dataset for use in fostering innovation in money laundering detection. The...
FOS responds on Mills Review
The FOS has published its response to the Mills Review on the impact of AI on retail financial services. It says: it has seen an increase in consumers using AI to make complaints and generally to correspond with the...
DRCF explores agentic AI
The Digital Regulation Cooperation Forum has published a paper exploring use of agentic AI and how UK regulatory frameworks can help realise its opportunities in a safe way. The paper looks at: defining agentic AI...
BoE and PRA respond on AI in financial services
The BoE and PRA have responded to January’s letter on AI-driven innovation from the Chancellor, the DSIT and the DBT. The response explains the regulators’ plans to enable safe AI innovation within the...
Sheilah MackieThe IA responds on Mills Review
The IA has responded to the Mills Review. It notes: investment managers will need to make their operating models evolve from periodic, manual assurance to continuous oversight of AI-driven decision-making; it is already...
Skills Commission finds AI skills increasingly in demand
A new report from the Financial Services Skills Commission shows that changes in technology are pressurising financial institutions to continually adjust their skills strategies, with skills gaps being a moving target...
UK-Japan financial regulatory forum reports on progress
The fourth meeting of the UK-Japan financial regulatory forum took place on 18 March between HM Treasury and the Japan Financial Services Agency. The forum discussed: digital finance, with the UK updating on its plans...
BoE publishes summary of AI roundtables
The BoE has published a summary of its three recent round tables with firms, at which it wanted to get a better understanding of the constraints firms are facing in adopting AI and what it can do do support responsible...