FCA to automate supervision with AI, rules out new AI rulebook

Britain’s Financial Conduct Authority (FCA) plans to automate much of its supervision and enforcement using AI. The FCA plans to become what it calls an “agentic regulator,” and it is doing so without writing any AI-specific rules for the firms it oversees. How will the FCA become an agentic regulator? MPs on the Treasury Committee were told at an evidence session on October 13 that Britain’s Financial Conduct Authority will automate much of its supervision and enforcement. Jessica Rusu, the FCA’s chief data, information and intelligence officer, said the automation of the regulator’s operations is expected to catch harms at the authorization gateway. Rusu told the committee that AI is already helping case officers read unstructured text and work through intelligence faster across authorization, supervision and enforcement.

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