To support the safe and responsible adoption of artificial intelligence (AI) in financial services, the FCA has shared good practice and areas for improvement examples from industry engagement, supervisory work and its AI Lab initiatives, including AI Live Testing and...
The Information Commission (ICO) has announced that ten major AI foundation model developers have agreed to make data protection improvements following regulatory scrutiny, while it is expanding its focus to the emerging risks associated with autonomous “agentic...
The Prudential Regulation Authority (PRA) held a roundtable with the Financial Conduct Authority (FCA) and HM Treasury to discuss the proposal for a tailored UK regime for captive insurers, CP11/26. Discussion centred on the proposed scope of the regime, authorisation...
The FCA has published its final report in relation to its Pure Protection Market Study; MS24/1.5. It has also published findings on switching, claims experiences, and fair value in the protection market. Generally, the FCA found that competition works well in the...
The FCA has published Consultation Paper CP26/33 proposing (for now) two minor changes to value measures data reporting and providing useful insight into the FCA’s and industry views in relation to general insurance value measures data and reporting. The FCA...
The FSRC has published the transcript of the consumer insurance market oral evidence session attended by David Geale, FCA Executive Director of Consumers, Payments and Competition, and Chris Knight, FCA Director of Insurance. Geale responded to most of the Committee’s...
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