FCA confirms AI approach via existing frameworks
FCA confirmed it will not introduce new AI-specific regulations, relying on Consumer Duty, SM&CR and governance expectations.
The FCA reiterated a principles-based, technology-neutral approach to AI in financial services, leveraging existing regimes rather than introducing new rules. Firms must ensure AI deployments are safe, well-governed and accountable under SMCR, with consumer outcomes evidenced under Consumer Duty.
Clarifies UK supervisory approach to AI; raises bar for governance under existing regimes.
Action Required
Align AI governance, model risk and accountability frameworks to Consumer Duty and SM&CR expectations.
Key strategic clarification of FCA stance on AI regulation.
Map AI use cases to SM&CR senior manager responsibilities and Consumer Duty outcomes; strengthen model governance, explainability and monitoring controls.
“FCA confirmed it will not introduce new AI regulations, relying instead on existing frameworks including the Consumer Duty, SM&CR and governance expectations to ensure safe, responsible AI use.”
Published: 2026-06-15