The Financial Conduct Authority (FCA)
is strengthening its international footprint with a strategic
partnership on artificial intelligence (AI) with the Monetary
Authority of Singapore (MAS) and will establish a new presence in
the country.
Announced at the Singapore Fintech
Festival, the new partnership will support safe and
responsible AI innovation. This
will enable innovative firms in the UK and Singapore to
scale and operate across both markets more
effectively.
For the first time, the FCA
will also establish a presence in Singapore with
the appointment of an FCA Financial Services
Attaché based at the British High Commission. This
forms part of a wider plan to establish a presence
in other priority markets next
year.
Jessica Rusu, chief data, information
and intelligence officer at the FCA, said: “Through our
partnership with the Monetary Authority of Singapore, we'll be
championing safe and responsible AI innovation across UK and
Singapore markets. I'm looking forward to seeing how it enables
firms in both countries to grow through collaboration, gauge new
cross-border opportunities, and shape the future of responsible
AI innovation in finance.
“Our
appointment to Singapore helps us expand our
network of financial services attachés around the
world, strengthen our regulatory relationship
with MAS and promote the UK as a global hub
for financial services.”
A key element of
the partnership will be the joint testing of AI
solutions, exchange of regulatory
insights, and collaborative events
to spotlight best-in-class
approaches.
These steps reinforce the FCA's
commitment to supporting economic growth. Strengthening
ties will help build global regulatory relationships and
attract inward investment to the UK.
Notes to
editors:
-
Innovative firms interested
in participating in future FCA-MAS AI Spotlight
events are invited to apply via the
AI Spotlight programme. As part of the application, firms should
highlight their relevance to the FCA-MAS AI Partnership,
including how their AI solution supports safe and responsible
innovation across UK and Singapore
markets.
-
In April 2025, the
FCA announced the appointment of an Asia-Pacific Director, Camille
Blackburn, who is based in Australia to
help establish a presence in the region. Tash
Miah was also appointed at
the British Embassy in
Washington, DC. to advance UK-US financial services policy and
regulatory cooperation.
-
To support international investment,
the FCA is a key delivery partner for the Government's
new Office for Investment: Financial
Services.
- Read about our wider collaboration with MAS on Project Guardian.
