UK FCA tells firms to report AI failures and near-misses

The UK Financial Conduct Authority says firms' incident reporting must cover significant AI failures and near-misses as autonomous systems raise new risks. Official Jessica Rusu called near-miss reporting for agentic AI a national security and regulatory priority.

• FCA extends incident reporting to significant AI failures and near-misses
• Regulator calls agentic AI near-miss reporting a national security priority
• Financial services contributed £223.6 billion, 8% of UK output, in 2025
• Government has not yet added AI measures to the cyber resilience bill