The United Kingdom’s Financial Conduct Authority (FCA) has issued a broad regulatory blueprint for retail financial services, warning that retail financial services are hurtling toward total automation driven by autonomous “agentic AI.”
The landmark report, “AI and the future of retail financial services,” spearheaded by executive director Sheldon Mills, details a structural shift away from periodic, human-led decisions toward continuous, automated financial services that could increasingly rely on programmable financial infrastructure.
The 147-page report comes at an inflection point where generative AI meets institutional crypto adoption.
It outlines seven recommendations for the FCA to consider, including enabling “the foundations for agentic finance,” which would support the development of trusted agent protocols that would underpin use of agentic AI and “scaling up the FCA’s AI Lab to support AI models and system innovation in financial services.”
The Mills Review explores how AI could reshape retail financial services for consumers, firms, markets and regulators.
The findings and recommendations from the independent report build on the FCA’s strong foundations and how we can harness AI to deliver better outcomes for…
— Financial Conduct Authority (@TheFCA) July 6, 2026
The Mills Report suggests that the catalyst is the rapid evolution of AI from predictive models into independent agents operating on an “autonomy spectrum.” At the far end of this spectrum, humans act as mere “observers” while AI continuously manages capital.
Source: fca.org.uk
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