BoE/FCA/HMT: Joint statement on Frontier AI models and cyber resilience
The Government and UK financial authorities have announced that firms should be taking active steps with regard to: governance and strategy; identification and risk management of vulnerabilities; managing risks from third parties; protection, and response and recovery.
Last updated · 15 May 2026
Regulatory News - Financial Services & Regulation
See allFSB: Sound practices for responsible adoption of AI
FSB’s consultation report highlights the benefits and risks associated with AI use in the financial system and sets out a series of sound practices that financial institutions could apply in their organisation-wide AI governance and management of the relevant stages of AI development and deployment. It includes case studies taken from AI implementation practices by financial institutions. Responses are required by 22 July 2026.
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The Money Laundering and Terrorist Financing (Amendment) Regulations 2026/621
This SI makes changes to the MLRs and related legislation. Amongst other matters, it refines due diligence requirements, including for unusually complex or unusually large transactions, high risk jurisdictions and pooled client accounts and cryptoasset correspondent relationships; updates currency thresholds from euros to sterling; clarifies that a firm is excluded from the definition of an “insurance undertaking” to the extent it is carrying out or effecting a contract of reinsurance, and strengthens the regime for cryptoasset businesses (including change in control provisions) and aligns these arrangements with the new regulatory regime for cryptoassets.
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FCA: Emerging Technology Horizon Scan 2026
FCA’s report sets out plausible ways emerging technologies could combine to create new outcomes for consumers, firms and markets and highlights signals of new risks these technologies may enable.
FCA: Mortgage lending statistics
FCA has published statistics for Q1 2026.
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HoL: Financial Services and Markets Bill
The second reading of the Bill took place on 8 June 2026, with Committee stage set to begin on 22 June 2026. A link to the Hansard transcript of the debate may be accessed via the second link below.