Regulatory News 21 October 2026

The FCA has updated its guidance for firms on the motor finance compensation scheme, providing further information to support firms as they prepare for its implementation.

The FCA has also published examples of good practice and areas for improvement in the use of AI in financial services. Separately, FCA Chief Data, Information and Intelligence Officer Jessica Rusu highlighted the importance of consumer protection, clear accountability and planning for potential failures as AI systems become more autonomous.

The FOS has appointed Rachel Childs as its new Independent Assessor. She will review complaints about the standard of service provided by the FOS.

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FCA Publication: Further information for firms on the motor finance compensation scheme

The FCA has updated its information booklet on the motor finance compensation scheme.

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Date: 20 October 2026

FCA Speech: Building the future of finance in the age of AI

Jessica Rusu, FCA Chief Data, Information and Intelligence Officer, gave a speech at Bloomberg’s UK Policy Series. She said that as AI evolves towards increasingly autonomous systems, firms should put consumers first, maintain clear accountability and plan for when things go wrong.

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Date: 19 October 2026

FCA Publication: AI in financial services: Good practice and areas for improvement

To support the safe and responsible adoption of AI in financial services, the FCA is sharing examples from industry engagement, supervisory work and AI Lab initiatives, including AI Live Testing and the Supercharged Sandbox.

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Date: 19 October 2026

FOS News: New Independent Assessor appointed

The FOS Board has appointed Rachel Childs as its new Independent Assessor. She will start her new role, reviewing complaints about the level of service the FOS provides, later this month.

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Date: 13 October 2026