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Artificial Intelligence Regulatory Agenda Financial Conduct Authority (FCA)

A&O Shearman

FCA proposes to launch AI live testing service

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The UK Financial Conduct Authority (FCA) has released an engagement paper, together with a press release, on proposals to launch AI live testing as part of the AI Lab. AI live testing will be open to all firms who have...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, April 18, 2025

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April 17, 2025 - Federal Reserve Board Governor Michael S. Barr gave a speech entitled, “Deepfakes and the AI Arms Race in Bank Cybersecurity.” April 17, 2025- The Federal Reserve Bank of Boston published an article...more

A&O Shearman

Rebalancing risk and building trust: The FCA’s new five year strategy

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The UK Financial Conduct Authority (FCA) has published its strategy for the next five years and it has a very different tone and objective to the three-year strategy it shared in 2022. This shift in tone reflects developments...more

A&O Shearman

UK FCA research note on AI's role in credit decisions

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The UK Financial Conduct Authority (FCA) has published a research note on AI's role in credit decisions, exploring the issue of AI explainability in the context of algorithm-assisted decision-making, using consumer credit...more

Proskauer Rose LLP

Regulation Round Up - January 2025

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

BCLP

AI Regulation in 2025 - Has the UK Government’s Wait-and-See Gamble Played Off?

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After a flurry of AI-related papers from the previous UK Conservative government and regulators in 2023 and the first half of 2024 (and the establishment of the UK’s AI Safety Institute and the AI Policy Directorate),...more

A&O Shearman

UK Financial Conduct Authority publishes research note on bias in natural language processing

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The Financial Conduct Authority has published a research note on a pilot study into bias in natural language processing (NLP). The research note presents the results of a technical investigation into biases in word...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - December 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

A&O Shearman

UK Financial Conduct Authority publishes research note on bias in supervised machine learning models

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The Financial Conduct Authority has published a research note providing a review of literature on bias in supervised machine-learning models. The note explores how biases may arise and be mitigated in models used to make...more

A&O Shearman

Mansion House: New Remit Letters for UK Financial Conduct Authority and Prudential Regulation Authority to Focus on Growth

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HM Treasury has published remits and recommendations for the U.K. Financial Conduct Authority and Prudential Regulation Authority, set out in a letter sent from Rachel Reeves, Chancellor of the Exchequer, to Nikhil Rathi, FCA...more

A&O Shearman

UK AI: existing regulators take the lead

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As further initiatives come in to play and legislation is on the horizon, existing regulators (such as the ICO, CMA, Ofcom and FCA) continue to press on with their approach to AI regulation, including through the Digital...more

A&O Shearman

UK Financial Conduct Authority Seeks Views on Use of AI in UK Financial Services

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The Financial Conduct Authority has launched a questionnaire on the current and future uses of AI in U.K. financial services and the financial services regulatory framework. The initiative is part of the FCA's AI Input Zone,...more

A&O Shearman

Bank of England Speech on Artificial Intelligence and Financial Stability

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The Bank of England has published a speech by Sarah Breeden, BoE Deputy Governor, Financial Stability, on AI and financial stability. In the speech, Ms. Breeden explores the novel features of Generative AI, and how financial...more

A&O Shearman

UK Financial Conduct Authority Announces Launch of AI Lab

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The Financial Conduct Authority has published a speech by Jessica Rusu, FCA Chief Data, Information and Intelligence Officer, on ten years of FCA innovation. In the speech, Ms Rusu announced the launch of the AI Lab, which...more

A&O Shearman

UK Technology Working Group and Investment Association report on Artificial Intelligence's Current and Future Uses in Investment...

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The U.K. Technology Working Group, supported by the Investment Association, published a report on the current and future usage of artificial intelligence in investment management. The U.K. Financial Conduct Authority and HM...more

A&O Shearman

Zooming in on AI - #5: AI under financial regulations in the U.S., EU and U.K. – a comparative assessment of the current state of...

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Rapid and accelerating developments in artificial intelligence have prompted governments around the world to consider how AI should be regulated and used responsibly by businesses, without stifling innovation. This is...more

McDermott Will & Emery

Private Markets Update | Summer 2024

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The Private Markets Update highlights key developments emerging from private markets across Europe, the UK and the United States, exploring the cross-border issues that matter to investors and sponsors in alternative assets. ...more

A&O Shearman

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

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Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more

White & Case LLP

AI Watch: Global regulatory tracker - United Kingdom

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The UK prioritizes a flexible framework over comprehensive regulation and emphasizes sector-specific laws. Laws/Regulations directly regulating AI (the “AI Regulations”) The UK government's AI Regulation White Paper of...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK ICO Publishes Its Strategy on AI Governance

Rather than specifically regulating artificial intelligence (AI), the UK government has opted to rely on the existing web of laws and regulations applying to technology across a spectrum of sectors in its jurisdiction. But...more

Proskauer Rose LLP

Regulation Round Up - April 2024

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Financial Markets Infrastructure: The Bank of England published a speech by Sasha Mills, Executive Director, Financial Market Infrastructure, on operational resilience and its expectations of financial market infrastructures...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Regulators Publish Approaches to AI Regulation in Financial Services

On 22 April 2024, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England published their strategic approaches to regulating AI in response to the UK government’s July 2022 AI...more

Goodwin

The FCA’s AI Update: Integrating The UK Government’s 5 Principles

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In our previous alert AI and Machine Learning in UK financial services, we discussed the response in FS 2/23 of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to its discussion paper on...more

Proskauer - The Capital Commitment

A Tale of Two Regulators: The SEC and FCA Address AI Regulation for Private Funds

2023’s excitement for generative artificial intelligence (AI) prompted the SEC to respond on multiple fronts – stump speeches, rulemaking, new exam priorities and sweeps and previewing potential enforcement actions. SEC Chair...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

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