The FCA has launched a long-term review examining how advanced AI will reshape retail financial markets, consumers and regulation through 2030 and beyond. Led by Sheldon Mills, the review represents a shift towards evidence-based regulatory guidance rather than prescriptive rules.
Read more: FCA Mills Review signals proactive AI oversight for financial services
New research reveals a stark disconnect in UK legal practice: 89% of lawyers now use AI tools, yet only 7% of clients report being informed of that usage. This disclosure gap exposes firms to regulatory and reputational risk as professional conduct expectations tighten.
Read more: Legal sector faces AI disclosure crisis as adoption soars without transparency
The Financial Reporting Council is gathering evidence on how UK public interest entities deploy AI in financial reporting and audit. The research programme signals that formal guidance on AI governance in reporting is forthcoming.
Read more: FRC launches AI corporate reporting research to shape future guidance
The UK Parliament's Treasury Committee has issued a damning assessment of regulatory inaction on artificial intelligence in financial services, warning that current approaches expose consumers and the system to serious harm. With 75% of UK financial services firms now deploying AI, the Committee dem
Read more: UK Parliament escalates AI governance pressure on financial regulators
The Clio Legal Insights Report for 2026 has exposed a stark governance breakdown in UK law firms: 89% of legal professionals deploy AI tools, yet only 7% of clients remember being informed. The disconnect between firm-reported disclosure rates (81%) and actual client awareness reveals a profession-w
Read more: Law firms embrace AI but fail to tell clients—governance crisis emerges
The Financial Reporting Council has partnered with Lancaster University to investigate how AI is being adopted in corporate reporting by UK public interest entities. The research, launched in March 2026, will gather baseline evidence to guide the FRC's future regulatory approach to AI in auditing an
Read more: FRC launches AI research into corporate reporting governance and audit risk
The Financial Conduct Authority has abandoned the traditional rules-first approach in favour of a faster, more adaptive regulatory stance designed to handle rapid AI deployment across financial services. Chief executive Nikhil Rathi's repositioning signals a fundamental shift in how UK regulators wi
Read more: FCA's Adaptive Regulation: Speed Over Prescription
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