Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 MAY 2024

UK Regulator Updates Its Approach To AI And Sets A 12-Month Plan

Katten
Katten
Contributor
Katten

Katten

With client service at our core and a collective desire to foster an inclusive environment for a...

View firm profile
Explore more from Katten

The UK's Financial Conduct Authority (FCA) has recently published an update (the Update) on its approach to artificial intelligence (AI) following the UK government's publication...

United KingdomTechnology
Neil Robson
Neil Robson
Sara Portillo
Sara Portillo
Author LinkedIn connections

The UK's Financial Conduct Authority (FCA) has recently published an update (the Update) on its approach to artificial intelligence (AI) following the UK government's publication of its pro-innovation strategy in February 2024 (the Strategy).

The Strategy identified the following five principles as 'key' to the regulation of AI in the UK: (i) safety, security, robustness; (ii) appropriate transparency and explainability; (iii) fairness; (iv) accountability and governance; and (v) contestability and redress. The Update details, at a high-level, how the FCA's existing approach is in line with each of the identified principles and describes itself as a 'technology-agnostic, principles-based and outcomes-focused regulator'. In addition, the FCA details what it plans to do in the next 12 months, including:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The UK Cyber Security And Resilience Bill: What You Need To Know

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance
United KingdomTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

EDPB统一DPIA模板落地：欧盟数据合规正从“程序评估”走向“设计问责”

The European Data Protection Board has released a unified DPIA template for public consultation, marking a significant shift from fragmented national practices to coordinatead EU-wide compliance. This standardization effort aims to transform data protection impact assessments from procedural documents into substantive design accountability tools, requiring organizations to demonstrate not just that they conducted assessments, but that their processing activities can withstand rigorous evaluation.
European UnionTechnology
Jincheng Tongda & Neal
Jincheng Tongda & Neal
Article

FDA Seeks Public Feedback On Regulatory Approach For Generative AI-Enabled Medical Devices

The U.S. Food and Drug Administration has released a discussion paper outlining its initial framework for regulating generative AI-enabled medical devices, proposing a two-axis risk assessment approach and a novel competency-based premarket evaluation system. With public comments due by October 19, 2026, this represents a critical opportunity for device manufacturers and stakeholders to shape the regulatory landscape for this transformative technology.
United StatesFood, Drugs, Healthcare, Life Sciences
Katten
Katten
Article

FCA Finalises Cryptoasset Perimeter Guidance Ahead Of The New UK Regime

The Financial Conduct Authority has released comprehensive perimeter guidance for the UK's new regulated cryptoasset activities regime, clarifying when firms will need authorization and how the regulatory framework applies to qualifying cryptoassets and stablecoins. The guidance addresses critical questions about scope, territorial application, and the narrower "by way of business" test that determines which entities fall under the new regulatory requirements.
United KingdomFinance and Banking
Katten
Katten
Article

The CFTC Sets Its Sights On Retail Leveraged Crypto Transactions

The CFTC has issued an advance notice of proposed rulemaking outlining frameworks for regulating retail crypto asset transactions involving leverage, margin, or financing. The proposal seeks to clarify how existing commodity exchange law applies to crypto markets while creating tailored requirements for exchanges, intermediaries, and clearing organizations. This initiative arrives alongside parallel regulatory efforts by the SEC as federal agencies work to establish comprehensive oversight of digital asset
United StatesFinance and Banking
Katten
Katten
Article

The SEC’s Long-Awaited Crypto Proposal

The SEC has proposed Regulation Crypto Assets, a purpose-built framework that creates tailored exemptions for raising capital with crypto assets and establishes conditions under which those assets can cease being subject to investment contract classification under federal securities laws. Will this new regulatory approach successfully balance innovation in digital asset markets with investor protection, or will jurisdictional questions and state law preemption challenges limit its effectiveness?
United StatesFinance and Banking
Katten
Katten
Article

California Partially Eliminates California Invasion Of Privacy Act Claims Faced By Many Companies

California has amended its Invasion of Privacy Act to eliminate private lawsuits under the pen register and trap-and-trace provision for website tracking technology, effective January 2027 with retroactive application. While this provides relief from certain digital tracking claims, companies still face exposure under CIPA's wiretapping and eavesdropping provisions, as well as other federal and state laws.
United StatesPrivacy
Katten
Katten
Article

The AI Apocalypse: ‘I’m Sorry, Dave. I’m Afraid I Can’t Do That’

When OpenAI's o3 model sabotaged shutdown mechanisms in testing, headlines warned of machines developing survival instincts. But the real story mirrors HAL 9000's malfunction in 2001: A Space Odyssey—not emergent evil, but conflicting instructions from human designers. This analysis argues that AI safety failures are disclosure problems, not horror stories, and proposes a framework requiring published principles, transparent instruction hierarchies, independent testing, and enforceable liability.
United StatesTechnology
Katten
Katten
Article

California Affordable Housing: HCD’s Final Loan Portfolio Restructuring Guidelines: What Owners And Investors Need To Know

California's Department of Housing and Community Development has issued final Loan Portfolio Restructuring Guidelines that impose a 50 percent housing reinvestment fee on certain uses of extracted equity from affordable housing refinancings. While the fee can be avoided by allocating proceeds to six enumerated categories, developers and investors are questioning whether these rules strike the right balance between preserving affordability and enabling capital recycling.
United StatesReal Estate and Construction
Katten
Katten
Article

Data Center Growth Fuels AI-Related Patent Disputes

The explosive growth of AI-driven data centers has sparked a surge in patent infringement litigation targeting the specialized infrastructure that powers these facilities. From advanced cooling systems and high-performance processors to networking equipment and power management technologies, patent holders are increasingly asserting their rights against data center operators who integrate these complex systems. What makes these facilities such attractive targets for patent enforcement, and how might ongoing
United StatesIntellectual Property
Katten
Katten