UK financial firms flag third-party AI oversight as top governance challenge
( October 26, 2026, 14:19 GMT | Official Statement) -- MLex Summary: UK financial firms now see oversight of third-party AI systems as their main governance challenge, according to a survey published on Monday by the Bank of England and the Financial Conduct Authority. More than half of respondents reported challenges applying risk-management principles to suppliers’ AI models, while around half said they monitor AI inputs, outputs or data flows. Data protection and privacy rules were the most cited regulatory constraint on AI adoption, with 42 percent reporting a high compliance burden.Statement follows. Report attached....
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