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20
Score
FCA Sticks to Existing Rules for AI Oversight in Finance
The UK Financial Conduct Authority has reaffirmed its decision to regulate artificial intelligence in financial services through existing principles-based rules rather than new AI-specific legislation. The FCA is applying its current framework—including the Consumer Duty, Senior Managers and Certification Regime, systems and controls requirements, and operational resilience standards—to firms' design, deployment, and oversight of AI systems. The Prudential Regulation Authority and Bank of England have adopted the same approach, rejecting prescriptive AI rules in favor of technology-agnostic scrutiny of firms' processes.
April 30, 2026
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