The boss of the City regulator has sought to alleviate concerns that it will bear down on financial services firms’ use of artificial intelligence, telling asset managers that it does not intend to “jump in and write lots of detailed rules”.

“Whilst we’re a technology neutral regulator, we still have the objective to ensure market integrity,” Nikhil Rathi, chief executive of the Financial Conduct Authority told the Investment Association’s annual conference on 5 June.