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UK financial services providers concerned about third-party AI responsibility

( June 4, 2025, 08:34 GMT | Official Statement) -- MLex Summary: UK financial services providers are concerned about who holds responsibility when AI tools are developed by third parties, particularly when used for automated decision-making, according to a new joint statement by the data protection regulator and the banking watchdog. The Information Commissioner’s Office and the Financial Conduct Authority said they're working together to help financial services providers better navigate data protection and financial regulation, including by clarifying how liability is allocated across the AI supply chain.Statement follows....

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