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UK FCA, ICO to meet finance industry over AI, Consumer Duty concerns

( March 10, 2025, 16:31 GMT | Official Statement) -- MLex Summary: The UK’s Financial Conduct Authority and Information Commissioner’s Office will host a joint event with financial services industry leaders on May 9 to discuss regulatory constraints to artificial intelligence adoption. The regulators said that a survey which identified data protection and the Consumer Duty as two of the main impediments to AI adoption indicated uncertainty around the interaction between the two regulatory regimes. The FCA and the ICO said regulatory cooperation can help achieve the government’s economic growth objective. Letter attached. ...

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