UK FCA exec wants to require disclosure of ‘significant AI failures and near-misses’

Source: CSO Online · OCT 20, 2026

When UK Financial Conduct Authority (FCA) Chief Data Officer Jessica Rusu gave a speech on Monday advocating that UK companies be required to report “significant AI failures and near-misses,” she added to the drumbeat of demands for some kind of regulatory control over enterprise AI deployments. But her speech also highlighted regulator frustration over futile attempts to slow down the seemingly unstoppable agentic and genAI rollouts, as reports of agent misbehavior and the lack of meaningful consequences continue to emerge with alarming frequency. Rusu , speaking to a Bloomberg UK Policy Series audience, said that firms need to invest more in cyber and operational resilience. “Our rules already require firms to report major incidents, and that must extend to significant AI failures and near-misses. As the AI Minister has recognized, near-miss reporting for agentic AI is becoming a national security priority. It is a regulatory priority too,” Rusu said . “It also means thinking differe