FRC's AI audit guidance sets global compliance standard for firms
The FRC's first global guidance on AI in audit establishes three risk categories that UK firms must address through enhanced controls. Compliance requires integration with existing ISA UK frameworks a...
Treasury Committee pressure mounts on FCA AI regulation and Consumer Duty
Parliament has rejected the FCA's technology-neutral AI approach as insufficient to protect consumers and financial stability. The Treasury Committee demands AI-specific regulatory guidance by end-202...
FCA Mills Review signals proactive AI oversight for financial services
The FCA has launched a long-term review examining how advanced AI will reshape retail financial markets, consumers and regulation through 2030 and beyond. Led by Sheldon Mills, the review represents a...
Legal sector faces AI disclosure crisis as adoption soars without transparency
New research reveals a stark disconnect in UK legal practice: 89% of lawyers now use AI tools, yet only 7% of clients report being informed of that usage. This disclosure gap exposes firms to regulato...