FCA

Will consider if more PE due diligence needs to be done

Could be soft intervention or the ‘more pointy end’, regulator said

Data protection and Consumer Duty top regulatory constraints to AI deployment

Many firms had taken positive action but ‘areas for improvement remain’

Consumer Duty remains central to the FCA's strategy

‘The FCA should be careful what it wishes for’

SEI restricted from launching products and onboarding institutional clients

Target market an expected focus as propositions have ‘questions to answer’

FCA also starts criminal proceedings against firm's business operations manager

Regulator finds 10% of sampled firms may not have adequate cover in place