No rush to write bespoke rules for AI in finance, says UK watchdog

As criminals make “unfettered” use of artificial intelligence (AI) to disrupt markets and scam consumers, Britain has a cocktail of rules already in place to tackle them, the Financial Conduct Authority (FCA) said on Tuesday.

The European Union has just provisionally approved a landmark law to regulate AI, the first of its kind globally, and piling pressure on other jurisdictions to follow.