The FCA has reiterated that consumers need clear, proportionate and consistent disclaimers when they receive AI-generated financial information or advice. Its latest comments recognise that general-purpose tools can widen access to information, while also blurring the boundary between regulated advice, guidance and unregulated AI output.
This is directly relevant to mortgage and financial-advice firms using generative AI for website copy, client communications, meeting notes, research summaries or lead qualification. Advisers should ensure outputs are reviewed, claims are supportable, personal data is protected and clients can clearly see when information is not regulated personal advice. The FCA is focusing on testing, assurance, monitoring and surveillance rather than simply waiting for new rules, so robust records and governance should be built into deployment now.
- Check: accuracy, source quality and Consumer Duty outcomes.
- Disclose: AI limitations and when human adviser review applies.
- Control: access to client data, prompt use, approvals and audit trails.