FCA becomming an Agentic regulator
The FCA says it is taking steps towards becoming an “agentic regulator”.That phrase caught my attention. What does it mean, and why should businesses care?
Jessica Rusu, the FCA’s chief data, information and intelligence officer, recently said: “We are taking forward recommendations, for example, becoming an agentic regulator.”
Most of us know AI as something that answers questions or summarises documents. Agentic AI goes further: it can work through a series of tasks towards a goal, within defined permissions and controls.
For a regulator, potential uses include reviewing information, spotting patterns and flagging concerns for investigation. Human oversight and accountability remain essential.
The FCA is taking forward recommendations from the Mills Review, including an AI-enabled supervisory model and expanded innovation services. It also says it does not plan to introduce new AI-specific rules, instead drawing on existing requirements, including Consumer Duty.
Businesses therefore need to watch more than changes to the rulebook. How information is analysed, concerns are identified and supervision is carried out may also evolve.At Watchdog Services, we follow developments like these because they matter to understanding the changing financial-services landscape.