# From principles to kill switches: finance AI rulebooks

> How are financial regulators turning high-level AI principles into enforceable controls?

Financial regulators started with principles and sandboxes, but by 2026 India, Singapore and the US were writing concrete expectations on inventories, model validation, vendor accountability and kill switches. India shows the full arc from a principles report to draft model-risk rules and promised SEBI controls.

## Stops
1. **13 Aug 2025: RBI FREE-AI Framework** (Rule) FREE-AI's 7 sutras and 26 recommendations set India's baseline for AI in finance. [page](https://wheresthe.ai/rule/in-rbi-free-ai-framework-2025/) · [source](https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=61018)
2. **13 Aug 2025: RBI publishes FREE-AI framework for AI in India's financial sector** (Development) The RBI publishes the framework and starts the shift from principles to supervision. [page](https://wheresthe.ai/d/in-rbi-free-ai-report-2025-08/) · [source](https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=61018)
3. **13 Nov 2025: MAS consults on AI risk management guidelines for all financial institutions** (Development) Singapore proposes inventories, risk materiality ratings and lifecycle controls, including for AI agents. [page](https://wheresthe.ai/d/sg-mas-ai-risk-management-consultation-2025-11/) · [source](https://www.rahmatlim.com/sg/publication/articles/31741/mas-consults-on-proposed-guidelines-for-artificial-intelligence-risk-management)
4. **19 Feb 2026: US Treasury releases AI lexicon and finance-specific AI risk framework** (Development) The US opts for a voluntary finance-specific version of the NIST AI RMF instead of binding rules. [page](https://wheresthe.ai/d/us-treasury-fs-ai-rmf-lexicon-2026-02/) · [source](https://home.treasury.gov/news/press-releases/sb0401)
5. **21 Apr 2026: FCA names Barclays, UBS, Experian and others in second AI Live Testing cohort** (Development) The UK tests AI, including agentic payments, live with firms before setting expectations. [page](https://wheresthe.ai/d/gb-fca-ai-live-testing-cohort-2-2026-04/) · [source](https://www.fca.org.uk/news/press-releases/fca-announces-second-cohort-ai-live-testing)
6. **24 Jun 2026: RBI drafts model risk rules covering AI/ML for all regulated lenders** (Development) The RBI drafts model-risk rules covering third-party and AI/ML models. [page](https://wheresthe.ai/d/in-rbi-draft-model-risk-management-2026-06/) · [source](https://www.rbi.org.in/SCRIPTs/BS_PressReleaseDisplay.aspx?prid=63006)
7. **6 Feb 2025: SEBI Reg 16C (AI responsibility)** (Rule) SEBI already makes intermediaries liable for the AI tools they use. [page](https://wheresthe.ai/rule/in-sebi-ai-responsibility-reg-16c-2025/) · [source](https://www.sebi.gov.in/legal/regulations/feb-2025/securities-and-exchange-board-of-india-intermediaries-amendment-regulations-2025_91809.html)
8. **19 Aug 2026: SEBI chief says AI/ML rules will mandate kill switches and human oversight** (Development) SEBI signals mandatory kill switches and human oversight for AI in markets. [page](https://wheresthe.ai/d/in-sebi-ai-ml-guidelines-kill-switch-2026-08/) · [source](https://www.outlookmoney.com/invest/sebi-to-issue-aiml-guidelines-for-capital-markets-mandatory-kill-switch-and-human-oversight-framework-explained)
9. **India** (Country) India now has two financial regulators moving in parallel toward hard AI controls. [page](https://wheresthe.ai/j/in/)

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Canonical page: https://wheresthe.ai/line/finance-regulators-ai-rulebooks/ · A Line of Thought from wheresthe.ai