Regulatory Alerts2022-10-10
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FS23/6: Artificial Intelligence and Machine Learning Feedback Statement
The Financial Conduct Authority and the Bank of England summarize responses to Discussion Paper DP5/22 regarding the role of supervisory authorities in supporting the safe and responsible adoption of AI in UK financial services. The feedback statement outlines themes related to the benefits and risks of AI, the application of the current regulatory framework, and potential clarifications of existing regulations. It identifies interested parties including regulated and non-regulated financial services firms, professional services firms, law firms, technology companies, trade associations, standard setting organizations, academics, and civil society organizations.
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