The aim of this VMG was to initiate new research collaboration between partners from 5 different countries on papers for policy-makers and regulators on how to test AI techniques in real time. The output is a literature review and in-depth analysis on (i) the specifications and requirements from a regulation point of view, (ii) overview on techniques that can be used for regulation and AI use in finance, (iv) off-the-shelf components and widgets that can be used for testing AI models. The paper furthermore discusses the use of AI for the management and improvement of financial companies’ business processes, and how to ensure responsible AI use in financial enterprises for all of their operations. We proposed an information system design for responsible and trustworthy finance, compliant with regulation requirements, and well- defined control points in financial companies information systems for regulation and creation of associated audits to enforce new policies and regulation principles. We outlined questions and challenges financial companies will need to solve to implement responsible AI operations in line with existing regulation.