United Kingdom: Financial Conduct Authority opened consultation on AI Live Testing proposal

On 24 April 2025, the UK Financial Conduct Authority (FCA) opened a consultation on its proposal for AI Live Testing, open until 10 June 2025. The consultation seeks input from financial services firms, AI solution providers, and consumer groups on a proposed framework for testing advanced AI models in controlled live market environments. The proposal sets out conditions for voluntary participation, eligibility criteria, and potential regulatory support, including individual guidance, waivers, and model evaluation tools. The FCA is also requesting feedback on specific challenges such as model validation, robustness, bias mitigation, and impacts on vulnerable consumers. The responses will inform the design of the pilot, which may be incorporated into the FCA’s broader innovation services. AI Live Testing forms part of the FCA’s strategy to support responsible AI deployment within the existing principles-based regulatory framework.