FCA may offer its market data to surveillance tech start-ups
Regulator concerned rapid AI adoption will favour incumbent vendors; aims to launch sandbox this year
The UK Financial Conduct Authority is considering opening up its vast trove of market data to vendors of financial crime surveillance technology. The FCA has been prompted by fears that the rapid growth of artificial intelligence could stop smaller firms and future entrants from competing with big tech incumbents who have access to large historical datasets.
The plans are part of a digital sandbox specifically for the use of AI in market surveillance, which the regulator is hoping to launch
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