Financial Conduct Authority CEO Nikhil Rathi said the regulator is not looking to “put the brakes” on technology innovation in financial services, including the development and use of artificial intelligence by companies.
In a speech at the Investment Association annual conference on Wednesday (5 June), Rathi reaffirmed the FCA's view that AI and technology governance should follow the Consumer Duty rules and market integrity framework. In addition, he highlighted the potential of AI in aiding passive investments, as geopolitical concerns put pressure on indices tracked by passive funds. According to Rathi, deploying AI to build technology-based solutions for passive investors would help them carefully assess the risks that are right for them over the long term. Allianz GI CIO Virginie Maisonneuve: We ...
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