The UK Financial Conduct Authority has launched the Mills Review to assess how generative and agentic AI may transform retail financial services through 2030 and beyond. Led by Executive Director Sheldon Mills, the review will examine competition, consumer behavior, and regulatory needs, seeking stakeholder feedback and recommendations to the FCA Board in summer 2026 ahead of a public report.
Key Points
- 1Launches Mills Review to assess generative and agentic AI impacts on UK retail financial services.
- 2Examines competition, market structure, consumer behavior shifts, and potential regulatory evolution through 2030.
- 3Seeks stakeholder feedback to inform FCA Board recommendations in summer 2026 and public reporting.
Scoring Rationale
Official regulator review gives high industry relevance and credibility, but announcement lacks technical detail and immediate practitioner actions.
Sources
Public references used for this report.
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