{"id":280678,"date":"2026-06-24T11:50:00","date_gmt":"2026-06-24T15:50:00","guid":{"rendered":"https:\/\/news-you-need.com\/index.php\/2026\/06\/24\/fca-boss-warns-ai-is-moving-faster-than-the-law\/"},"modified":"2026-06-24T13:10:17","modified_gmt":"2026-06-24T17:10:17","slug":"fca-boss-warns-ai-is-moving-faster-than-the-law","status":"publish","type":"post","link":"https:\/\/news-you-need.com\/index.php\/2026\/06\/24\/fca-boss-warns-ai-is-moving-faster-than-the-law\/","title":{"rendered":"FCA Boss Warns AI is Moving Faster Than The Law"},"content":{"rendered":"

FCA Boss Warns AI is Moving Faster Than The Law<\/a><\/p>\n

https:\/\/www.pymnts.com\/news\/artificial-intelligence\/2026\/fca-boss-warns-ai-is-moving-faster-than-the-law\/<\/a><\/p>\n

Publish Date: 2026-06-24 11:50:00<\/a><\/p>\n

Source Domain: www.pymnts.com<\/a><\/p>\n

A top U.K. finance watchdog says regulations cannot keep pace with artificial intelligence (AI).<\/p>\n

In a speech Wednesday (June 24), Financial Conduct Authority (FCA) CEO Nikhil Rathi said regulation must therefore evolve to meet the demands of AI\u2019s use.<\/p>\n

\u201cTechnology is moving much faster than many regulatory paradigms,\u201d Rathi said at the Agents of Change: Generative and Agentic AI in Financial Services 2026 conference. \u201cLegislation will never keep up. That is one reason the FCA\u2019s Strategy is built around rebalancing risk. We are re-thinking what it means to be an effective regulator in the age of AI.\u201d<\/p>\n

That means exploring agentic AI as a \u201cfirst responder\u201d to speed how the FCA monitors wholesale markets, and harnessing technology and massive data sets, as well as the regulator\u2019s supervisory judgement, to more quickly react to market abuse.<\/p>\n

\u201cIn some areas, we will still need detailed rules. But in others, traditional rule-making simply won\u2019t work anymore,\u201d Rathi said. \u201cA growing part of our role will be stewardship, as well as supervision. Helping firms and markets navigate technological change, and working more collaboratively and creatively to understand emerging risks. Even acting before legislation catches up.\u201d<\/p>\n

He likened AI to buy now, pay later (BNPL) firms, saying that while it took those companies around six years to come onto the FCA\u2019s \u201cregulatory perimeter,\u201d the authority did not take another six years to react.<\/p>\n

Rathis added that the FCA wants to make it easy for financial services companies to safely build and test AI. The coming weeks will see the publication of the Mills Review, explaining how AI could re-shape retail financial services. And the FCA will later this year issue a publication on good and poor AI practice.<\/p>\n

In the meantime, the regulator offers its Supercharged Sandbox, which lets companies build and test solutions \u201cusing real-world data, compute and systems,\u201d collaborating with tech giants like…<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FCA Boss Warns AI is Moving Faster Than The Law https:\/\/www.pymnts.com\/news\/artificial-intelligence\/2026\/fca-boss-warns-ai-is-moving-faster-than-the-law\/ Publish Date: 2026-06-24 11:50:00…<\/p>\n","protected":false},"author":1,"featured_media":280679,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.pymnts.com\/wp-content\/uploads\/2024\/11\/UK-FCA-financial-services.png","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-280678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/280678"}],"collection":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=280678"}],"version-history":[{"count":1,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/280678\/revisions"}],"predecessor-version":[{"id":280680,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/280678\/revisions\/280680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/280679"}],"wp:attachment":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=280678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=280678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=280678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}