United Kingdom: Opened consultation of Bank of England and FCA on AI and Machine Learning in Financial Services
Description
Opened consultation of Bank of England and FCA on AI and Machine Learning in Financial Services
On 11 October 2022, the Financial Conduct Authority (FCA) and the Bank of England opened a consultation on the use and regulation of artificial intelligence (AI) and machine learning (ML) in UK financial services. Through a Discussion Paper (DP), bo…
Scope
Policy Area
Design and testing standards
Policy Instrument
Design requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), ML and AI development
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body