FICTIONAL DOCUMENT FOR PRACTICE - no reference to real people, companies or records

IMAGINARY SUPERVISORY BODY FOR FINANCIAL ADVISERS (fictional text, not a real act)
Notice no. 3/2026 of 2 November 2026
Use of artificial intelligence systems in investment advice

1. Scope. This notice applies to independent financial advisers and financial advice firms on the Body's register that use artificial intelligence systems, including third-party and free ones, at any stage of the service.

2. Responsibility. The use of an artificial intelligence system does not change the adviser's responsibility for the suitability assessment and for personal recommendations, which remain acts of the adviser.

3. Register of tools. By 30 June 2027 the adviser keeps a register, which may be in a simple form, of the artificial intelligence systems used, stating the activities they are used for and the date their use began. The register is updated at every change and made available to the Body on request.

4. Client data. Data that allows the client to be identified may not be entered into artificial intelligence systems, unless the provider guarantees by contract that the data is not used to train the models and is stored in the United Kingdom.

5. Information to the client. From 1 January 2027 the advice agreement, or a separate communication for agreements already in place, states in plain language whether and for which activities the adviser uses artificial intelligence systems. For agreements already in place the communication is sent by 31 March 2027.

6. Checking content. Documents for the client that contain data, figures or references to rules produced with the help of artificial intelligence systems are checked by the adviser before they are sent. The Body may ask for evidence of the checks carried out.

7. Entry into force. This notice applies from 1 January 2027, except as provided in paragraphs 3 and 5.