We want the UK to be at the forefront of the safe and responsible adoption of artificial intelligence (AI) in financial services, supporting innovation, productivity and economic growth.

Singapore, 20 October 2026… The United Kingdom (UK) and Singapore held the 11th UK-Singapore Financial Dialogue in Singapore today. Reaffirming their strong and longstanding partnership, the discussions focused on advancing cooperation in digital finance and innovation, capital markets, sustainable finance, and regional and multilateral initiatives.

The UK Financial Conduct Authority (FCA) has called on financial firms to use artificial intelligence (AI) safely, with clear responsibility, strong oversight, and plans for when systems fail.

The U.S. Department of the Treasury announced recently that its Financial Crimes Enforcement Network (FinCEN) had identified approximately $270 million in suspicious financial activity potentially linked to fraud against federal student aid programs.

The FCA has banned Jeffrey Dawkins, the former chief executive of Vector Wealth Ltd, after he dishonestly acted as a front for a disqualified director using the company to sell high-risk bonds.

New sanctions target a law firm, shipping agents, and cargo vessels accused of helping Iran transport oil and other goods.

Following is a question by Professor the Hon Alex Fan and a reply by the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (October 21):

The UK’s financial services strength provides a platform to lead the next era of technology-driven growth.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has removed Theint Win Htet, the daughter of Myanmar businessman Thein Win Zaw, from its Specially Designated Nationals and Blocked Persons (SDN) List.