FCA and BoE ramp-up data credentials to 'transform' UK regulation

Should reduce reporting cost burden

clock • 3 min read

The Financial Conduct Authority (FCA) and the Bank of England (BoE) have committed to transforming the way in which UK firms are regulated via an unprecedented drive to improve the regulators’ data and analytics capabilities.

Announcing their plans on Tuesday (7 January), the regulators said the changes would improve the standard of regulation, allowing them to "anticipate harms before they crystallise", and reduce the cost of reporting for regulated firms. It follows previous signals from the FCA that it would embrace machine learning techniques to become a "robo-regulator", with aspirations likened to "science fiction". The FCA's new data strategy is a five-year plan intended to transform the watchdog into a "highly data-driven regulator", it said, and will lead to an increased focus on the use of advanc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

AI and the FCA: Regulating the brave new world

AI and the FCA: Regulating the brave new world

'This is as much about learning as it is about supervision'

Alison Gay
clock 23 April 2026 • 4 min read
FCA cracks down on illegal crypto trading

FCA cracks down on illegal crypto trading

Eight premises targeted

Jen Frost
clock 22 April 2026 • 2 min read
Average adviser age falls to late 40s

Average adviser age falls to late 40s

FCA’s 2025 Adviser Survey also finds number of advice firms decreased

Sophia Panayi
clock 22 April 2026 • 2 min read