# FCA warns consumers against relying on AI chatbots for financial advice

> Consumer rights · 17 May 2026

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## Summary

The Financial Conduct Authority urged consumers to treat AI-generated financial guidance with caution and to verify with regulated sources.

The Financial Conduct Authority issued fresh guidance this month urging consumers to treat financial information generated by AI chatbots and large language models as a starting point rather than a regulated recommendation.

Key warnings included: AI outputs can be confidently wrong about specific allowances, thresholds and product rules; chatbots are not authorised to give personal recommendations and cannot be held to the Consumer Duty; and providers cannot be sued or complained about through the Financial Ombudsman for losses arising from AI-generated guidance.

Consumers wanting personalised advice are encouraged to use FCA-authorised advisers, free regulated guidance services such as MoneyHelper and Pension Wise, or charity advice services including Citizens Advice and StepChange.

Free factual sources — including gov.uk, MoneyHelper and the Bank of England — remain the recommended starting point for general information about rates, thresholds and rules.

## Related topics

- [/banking/](https://moneyguide.org.uk/banking/)
- [/investing/](https://moneyguide.org.uk/investing/)

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.