Westminster Business Forum

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AI in UK financial services - priorities for policy, sector development, innovation and safeguards

Morning, Friday, 6th March 2026

Online


This conference will examine the evolving role of AI in UK financial services, including a focus on practicalities for safe adoption and innovation, alongside the impact on financial markets and the finance sector, as well as consumer outcomes.


Policy & latest developments
It will bring stakeholders and policymakers together to discuss the forthcoming Treasury Committee report on AI in financial services. Planned sessions will assess the way forward for the TRUSTED governance model proposed in the Bank of England’s Artificial intelligence in the financial system report, looking at practical considerations in regards to its aims of ensuring AI models are targeted, reliable and secure, alongside the embedding of stronger data management practices to support clarity and regulatory oversight.


Discussion is also expected on implications for financial services of related measures in the Data (Use and Access) Act 2025, particularly around new obligations for accessing, sharing and processing data across public and private systems.


Coordination & scaling adoption
Delegates will assess options for enhanced coordination between regulators as the use of third-party vendors and large models expands, and pathways for testing and scaling through the FCA’s Supercharged Sandbox, including evidential standards required as firms move from pilots to live deployment. The agenda will examine implications for firms and the financial sector as a whole, as AI deployment advances.


Regulation, monitoring & consumer protection
Oversight mechanisms will be examined, and how regulatory responses might need to evolve to address concerns around market integrity and system resilience, and risks arising from increasingly autonomous or data-driven trading activity.


Delegates will consider priorities for proportional testing and monitoring standards, including the FCA’s new live-testing service for AI tools,. They will consider strategies for protecting consumer interests with the increased use of fraud detection and credit assessment. Reimbursement, liability and redress frameworks in case of disputes will be discussed, alongside strategies for reinforcing accountability and public confidence.


Further sessions will focus on the position of AI-related risks within macroprudential stress testing frameworks, as well as the way forward for regulatory coordination on AI across the FCA, Bank of England, PRA, CMA, and ICO. Delegates will consider practical implementation of the Government's UK Compute Roadmap as it applies to financial services, and the adequacy of existing safeguards given the sector's increasing reliance on a limited number of critical third parties for compute infrastructure and cloud services, and with BoE identifying concerns in areas such as over-reliance on similar algorithms or data sources, vendor concentration and herd behaviour.


Workforce priorities & skills
The conference will also address implications for employment and skills development within the sector, examining how firms might balance anticipated gains in automation and productivity against considerations of job security, and what is needed for effective retraining and upskilling programmes as roles evolve.



Keynote Speaker

Colin Payne

Head, Innovation, Financial Conduct Authority