In a blog post setting out its approach to AI in financial services, the Financial Conduct Authority said it does not plan to introduce AI-specific regulation and will instead rely on existing frameworks, including the Consumer Duty, the Senior Managers and Certification Regime, and its expectations on governance and controls. It has launched the AI Input Zone survey to gather evidence from firms and other stakeholders on practical issues raised by AI, and plans to share examples of good and poor practice later in 2026. The work is focused on how firms govern and oversee AI, test models and monitor outcomes, treat customers fairly including those with features of vulnerability, and explain AI-driven decisions. The survey closes on 19 June 2026 and asks stakeholders to share AI use cases, barriers, areas where further clarity would help, and emerging risks. It sits within the FCA's wider AI Lab, which also includes the Supercharged Sandbox, AI Live Testing, AI Spotlight and other industry engagement initiatives. Within the AI Lab, applications for Supercharged Sandbox Cohort 2 are being considered, AI Live Testing Cohort 2 has launched, and a report on lessons from live testing is due in early 2027. The FCA also noted that the independent Mills Review on the long-term impact of AI is expected in summer 2026.
Financial Conduct Authority2026-06-08
UK Financial Conduct Authority launches AI Input Zone survey and says it will not introduce new AI specific rules
The Financial Conduct Authority set out its approach to artificial intelligence in financial services, confirming it will not introduce AI-specific rules and will instead apply existing frameworks such as the Consumer Duty, the Senior Managers and Certification Regime, and governance and controls expectations. It launched an AI Input Zone survey under its AI Lab to collect evidence on AI use cases, barriers, areas needing further clarity and emerging risks, and plans to publish examples of good and poor practice in 2026, alongside ongoing Supercharged Sandbox and AI Live Testing initiatives and the forthcoming Mills Review on the long-term impact of AI.