FCA Partners With Singapore to Drive Growth & AI Innovation

The Financial Conduct Authority’s newly announced partnership with the Monetary Authority of Singapore marks a significant expansion of the UK’s global regulatory footprint and signals a strategic commitment to shaping the future of safe, responsible artificial intelligence in financial services.

Unveiled at the Singapore Fintech Festival on 12 November 2025, the collaboration reinforces the UK’s ambition to lead international standards on AI governance while accelerating innovation across two of the world’s most advanced fintech ecosystems.

A central development is the FCA’s plan to establish its first physical presence in Singapore through the appointment of a Financial Services Attaché at the British High Commission. This move strengthens the UK’s long-term regulatory ties in Asia, complements the recent appointment of the Asia Pacific Director based in Australia, and reflects a broader strategy to anchor the UK’s influence in priority markets. By deepening engagement with MAS, the FCA aims to facilitate regulatory alignment, improve market access, and support firms seeking to scale AI solutions across borders.

The partnership prioritises the joint testing of AI systems, structured knowledge-sharing on supervisory approaches, and a series of collaborative Spotlight events showcasing best practice. These initiatives position both regulators at the forefront of emerging AI risks, from model governance and data integrity to cross-border operational resilience, while encouraging responsible experimentation within well-defined guardrails. For innovative firms in the UK and Singapore, the arrangement creates a more predictable and supportive environment for developing and deploying AI-driven financial products.

Jessica Rusu, the FCA’s Chief Data, Information and Intelligence Officer, highlighted the opportunity for both markets to shape global expectations for trustworthy AI. She noted that collaboration with MAS will help firms identify new growth channels, access international investment, and drive the next wave of responsible innovation in financial services. Strengthening regulatory relationships in this way supports the UK’s broader economic agenda by attracting inward investment and enhancing the country’s competitiveness as a global financial centre.

The FCA’s partnership with MAS builds on previous joint initiatives such as Project Guardian and aligns with the Government’s Office for Investment: Financial Services. Taken together, these steps demonstrate the FCA’s commitment to fostering an innovative, resilient and internationally connected financial system, where AI technologies can be scaled safely and sustainably.

Read the press release here.