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Financial Conduct Authority (FCA) FinTech Artificial Intelligence

A&O Shearman

BoE official launch of AI consortium

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The Bank of England (BoE) has announced the launch of the AI Consortium. The consortium will provide a space for public-private engagement to gather input from stakeholders on the capabilities, development, deployment and use...more

A&O Shearman

FCA proposes to launch AI live testing service

A&O Shearman on

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

A&O Shearman

FCA summary of AI Sprint

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The UK Financial Conduct Authority (FCA) has published a summary of its AI Sprint, a two-day event that was hosted in January which discussed the opportunities and challenges of AI in financial services. 115 participants took...more

A&O Shearman

Global Financial Innovation Network report on use of consumer-facing AI in global financial services

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The Global Financial Innovation Network has published a report summarizing discussions led by the U.K. Financial Conduct Authority and the Dubai Financial Services Authority on the use of consumer-facing AI in global...more

BCLP

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

BCLP on

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

BCLP

AI and Machine Learning in Financial Crime Compliance

BCLP on

As financial crime risks evolve, including those risks posed by the use of AI and other emerging technologies, so too must firms’ financial crime compliance response. It is unsurprising, therefore, that AI forms part of both...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

Bank of England and UK Financial Conduct Authority Findings on Third Survey of Artificial Intelligence and Machine Learning in UK...

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The Bank of England published the findings of its third joint survey with the U.K. Financial Conduct Authority on the use of Artificial Intelligence and machine learning in financial services. The survey aims to build on...more

Goodwin

AI and Financial Stability: Questioning Tech-Agnostic Regulation in the UK?

Goodwin on

In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and...more

A&O Shearman

UK Financial Conduct Authority Outlines Future of UK Digital Regulation

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The U.K. Financial Conduct Authority's Chief Executive, Nikhil Rathi, gave a speech on April 22, 2024, setting out the priorities of the Digital Regulation Cooperation Forum. The DRCF brings together the FCA, the Competition...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 8

UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more

Katten Muchin Rosenman LLP

The Latest State of Play for the Regulation of AI in the UK Financial Services Industry

On 1 and 2 November 2023, the UK hosted the world's first summit on artificial intelligence safety at Bletchley Park (the Summit). Once the top-secret home where Britain's World War II cryptographers decoded secret enemy...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

Goodwin on

In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

Proskauer Rose LLP

Regulation Round Up - April 2023

Proskauer Rose LLP on

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. Key developments in April 2023: 28 April FCA Handbook: The Financial Conduct...more

Morrison & Foerster LLP

New European Fintech Regulations Affecting ICT Providers

Morrison & Foerster LLP on

Both the EU and the UK are taking steps to enhance the rules in the financial services sector to add a new layer of direct regulation for key technology providers to banks and other regulated financial services institutions –...more

Morgan Lewis - Tech & Sourcing

AI in Financial Services: Bank of England and UK FCA Highlight Key Challenges and Risks

The Bank of England (Bank) and the UK Financial Conduct Authority (FCA) published their final report of discussions from the UK Artificial Intelligence Public-Private Forum on February 17. Over quarterly meetings and several...more

Hogan Lovells

Financial institutions general regulatory news, September 2020

Hogan Lovells on

SMCR extension: SI extending implementation date made - The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (SI 2020/929) have been made....more

A&O Shearman

UK Regulators Take Steps to Establish Financial Services AI Public Private Forum

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The Bank of England and the U.K. Financial Conduct Authority are establishing the Financial Services AI Public Private Forum that Governor Mark Carney announced in June 2019. The regulators are calling for expressions of...more

White & Case LLP

Financial Regulatory Observer - December 2019: Digitalization: Regulating the future of finance

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As technology reshapes the banking industry, regulators are rising to the challenge. Digitalization is at the forefront of the challenges facing the banking industry as it undergoes a period of unprecedented upheaval....more

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