UK FCA official says AI is speeding up financial analysis and trading, calls for clearer disclaimers
Jessica Rusu, chief data, information and intelligence officer at the UK Financial Conduct Authority, said in a speech that artificial intelligence is reshaping financial services across both retail and wholesale markets. In retail finance, the FCA has commissioned the Mills Review to study how AI is affecting consumer-facing financial services and said it is already seeing a shift toward "agentic finance," citing Meta's Muse as an example. In wholesale markets, Rusu said AI is accelerating analysis, trading, surveillance and decision-making, and that the FCA is moving six of seven recommendations straight into practical work. She also warned that more consumers are turning to general-purpose large language models such as ChatGPT, Gemini and Claude for financial information and investment guidance, blurring the line between regulated and unregulated activity. Survey data cited in the speech showed that four in five less-experienced investors aged 18 to 40 have used AI to support investing, while only 40% understood that they would have no recourse if advice from a general AI tool caused problems. The FCA is urging AI providers to use clear, appropriate and consistent disclaimers and said it will use its AI Lab to support the International Organization of Securities Commissions' first TechSprint.
