Regulatory Alerts2026-04-01
The Bank and PRA Response to HMT, DSIT and DBT on AI in Financial Services
The Bank of England and Prudential Regulation Authority have issued a formal response to HM Treasury, DSIT, and DBT outlining their proactive strategy to enable safe artificial intelligence innovation across the UK financial sector. The regulators commit to publishing a detailed implementation plan with a first-half 2026 timeline and will integrate annual AI-driven innovation reporting into their standard Business Plan and Annual Report. This approach builds on existing technology-agnostic model risk principles, continuous industry engagement through the AI Consortium and targeted roundtables, and active international coordination to manage concentration, cybersecurity, and contagion risks while fostering competition and growth.
Share