News & Analysis as of

Artificial Intelligence Prudential Regulation Authority (PRA)

A&O Shearman

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

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Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more

Proskauer Rose LLP

Regulation Round Up - September 2024

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Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Proskauer Rose LLP

Regulation Round Up - July 2024

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Proskauer Rose LLP

Regulation Round Up - May 2024

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Key developments in May 2024: ESG: The Financial Conduct Authority (“FCA”) updated its webpage on the sustainability disclosure requirements (“SDR”) and investments labelling regime. Among other things, the webpage has been...more

Katten Muchin Rosenman LLP

UK Financial Insights from Katten | Issue 11

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

Skadden, Arps, Slate, Meagher & Flom LLP

The UK ICO Publishes Its Strategy on AI Governance

Rather than specifically regulating artificial intelligence (AI), the UK government has opted to rely on the existing web of laws and regulations applying to technology across a spectrum of sectors in its jurisdiction. But...more

BCLP

A deep dive into the FCA’s approach to the regulation of AI within financial services

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Last week the FCA issued three announcements concerning its approach to the digital future of financial services in the UK. Amongst these was the FCA’s AI Update, their response to the government’s recent AI consultation...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Regulators Publish Approaches to AI Regulation in Financial Services

On 22 April 2024, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England published their strategic approaches to regulating AI in response to the UK government’s July 2022 AI...more

Goodwin

The FCA’s AI Update: Integrating The UK Government’s 5 Principles

Goodwin on

In our previous alert AI and Machine Learning in UK financial services, we discussed the response in FS 2/23 of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to its discussion paper on...more

Hogan Lovells

UK: The FCA, Bank of England and PRA issue their strategic approach to regulating AI in response to the government’s AI White...

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The UK’s financial regulators have responded to the government’s White Paper on its approach to regulating the use of artificial intelligence and machine learning (AI). Publications from the Financial Conduct Authority (FCA),...more

Proskauer Rose LLP

Regulation Round Up - February 2024

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Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Proskauer Rose LLP

Regulation Round Up - October 2023

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Fund Tokenisation: The Financial Conduct Authority (“FCA”) published a press release announcing that it has joined the Monetary Authority of Singapore’s Project Guardian, a collaborative initiative with the financial industry...more

Latham & Watkins LLP

AI in UK Financial Services - What’s on the Horizon?

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As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. As financial services firms digest FS2/23, the joint Feedback Statement on Artificial...more

Goodwin

AI and Machine Learning in UK financial services: the public response to the FCA and PRA

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In our previous alert, we discussed the emerging trends for regulating artificial intelligence (AI) in financial services and mentioned a joint paper published by the Prudential Regulation Authority (PRA) and Financial...more

Goodwin

Further Light on Generative AI and UK Financial Services Regulation

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In our previous alert, we noted the speech made by Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), which built on the points made in a joint paper published by the Bank of England (BoE) and FCA on artificial...more

Proskauer Rose LLP

Regulation Round Up - July 2023

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31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more

Morgan Lewis - Tech & Sourcing

UK FCA, BoE, and PRA Publish Discussion Paper on Adopting AI in Financial Services

On October 11, the Bank of England (BoE), the Prudential Regulation Authority (PRA), and the UK Financial Conduct Authority (FCA) (together, the Supervisory Authorities) published a discussion paper (DP5/22) on the safe and...more

Hogan Lovells

UK FCA, PRA and BoE publish discussion paper (DP5/22) on AI and machine learning

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In the discussion paper, the UK financial supervisory authorities have not provided a new legal framework or their intended future approaches for regulating the use of AI and machine learning in financial services. However,...more

WilmerHale

AI and Algorithms in Financial Services - Future Areas of Focus

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Artificial intelligence (AI) and algorithmic models are used extensively in the financial services sector across a broad range of business areas. Two-thirds of respondents to a survey conducted jointly by the UK’s Prudential...more

Hogan Lovells

Financial institutions general regulatory news, September 2020

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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

Proskauer Rose LLP

Regulation Round Up - August 2019

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1 August - The Financial Conduct Authority ("FCA") published an insight article on artificial intelligence ("AI") in the boardroom. The article considers various AI-related issues in the boardroom....more

Proskauer Rose LLP

Regulation Round Up - April 2018

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3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more

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