First reported by ET Pharma
Britain should consider regulating AI models, FCA official says
UK regulators weigh new rules for agentic AI in financial services and payments
By
David Tilbury
3h ago· 8 min readenNews
Summary
UK regulators, including the Financial Conduct Authority (FCA) and Bank of England, are examining whether new rules are needed to govern the use of agentic AI in financial services. A review led by FCA executive director Sheldon Mills explores how agentic AI will impact retail financial services, business models, operations, and regulation. The technology is already growing rapidly in areas like online shopping and payments, prompting regulators to consider specific guardrails for its use.
Source
bskyUK regulators weigh new rules for agentic AI in financial services and paymentspinsentmasons.comKey quotes
· 3 pulledThe topic of agentic AI-related reform was addressed in recent speeches made by senior figures at the Financial Conduct Authority (FCA) and Bank of England.
That review foreshadows near- and longer-term implications of the evolution of agentic AI for business models, operations and regulation across financial services.
One area where agentic AI use is already fast-growing is online shopping
The growing use of agentic AI is spurring UK regulators to examine whether specific new rules need to be developed to govern use of the technology in financial services.
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