Insights & analysis for compliance leaders

The Breuer Ban: What a £755,000 Fine Teaches Firms About Insurance, Integrity and Asset Stripping

The FCA banned Frank Breuer and fined him £755,000 for advising on DB pension transfers without insurance, misleading the regulator, and stripping his firm's assets. The control lessons for every advice firm.

FCA fines £16.8m so far in 2026, up from £12.3m

FCA fines reached £16.8m across 9 cases so far in 2026. A breakdown by year, breach theme and the largest recent penalties, with MEMA's view.

CP26/15 has closed: what consumer credit firms should prepare for next

Source-led MEMA review of CP26/15: Reviewing the financial promotions rules for consumer credit, with affected-firm focus, topic-specific control actions, board questions.

FCA Compliance Priorities for 2026: What Every Regulated Firm Needs to Know

A detailed breakdown of the FCA's top 10 regulatory priorities for 2026, from Consumer Duty year two to cryptoasset regulation, with practical steps for compliance teams.

What 10 Years of FCA Fines Data Reveals About Enforcement Trends

An analysis of a decade of FCA enforcement actions using our comprehensive fines database, revealing patterns in breach categories, fine sizes, targeted sectors, and what compliance teams should learn.

Motor Finance Complaints: How to Prepare Before the May 31 Deadline

The FCA's pause on motor finance complaint handling lifts on May 31, 2026. A practical guide for motor dealers, lenders, and brokers on complaint handling capacity, redress provisioning, and Consumer Duty compliance.

Non-Financial Misconduct: September 2026 Deadline for Non-Bank Firms

Understanding PS25/23 requirements for tackling bullying, harassment, and misconduct, with implementation guidance for affected firms.

FCA Week in Review: Motor Finance Redress, Operational Resilience, and Deferred Payment Credit Rules Finalised

This week's FCA publications finalise £7.5bn motor finance redress, operational incident reporting standards, and bring Buy Now Pay Later under regulation - with immediate compliance implications.

Targeted Support: The New Advice Framework for Pensions and Investments

Understanding the FCA's targeted support regime taking effect April 2026, including authorisation requirements and implementation guidance.

Complaints Reporting Reform: Preparing for the July 2026 Taxonomy Changes

Understanding PS25/19 and the new consolidated complaints return, including implementation requirements and key deadlines.

FCA Regulatory Update: PS26/1: Regulation of Deferred Payment Credit (unregulated Buy Now Pay Later)

Weekly regulatory briefing covering 5 FCA developments (PS26/1, CP26/1, CP25/30, CP26/7, CP25/2): consequence-led analysis and prioritised actions for compliance leaders.

FCA Authorisation Costs 2026: £15k–£80k+

The FCA application fee (from £1,500) is just the start. The true cost of FCA authorisation in 2026 runs to £15,000–£80,000+ once you add regulatory capital, PI cover, a compliance officer and IT infrastructure. Full breakdown by firm type.

FCA Authorisation Timeline 2026: What to Realistically Expect

The FCA publishes statutory timelines, but the real clock starts months before you submit. Understand each phase and where firms lose weeks in the authorisation process.

How to Get FCA Authorised: The Definitive Process

Hundreds of firms successfully get FCA authorised each year. The difference between a smooth process and a frustrating one comes down to preparation and understanding what the FCA wants to see.

Private Markets Valuation: FCA Findings and Compliance Expectations

Understanding the FCA's multi-firm review findings on private asset valuation practices and conflicts of interest management.

Fewer Cases, Higher Impact: Decoding the FCA’s 2026 Enforcement Strategy

With the release of the inaugural 'Enforcement Watch', the FCA has signalled a ruthless pivot towards targeted, data-driven enforcement. Are you prepared?

Financial Advice Consolidation: Navigating Enhanced FCA Scrutiny

Key findings from the FCA's consolidation review and what acquiring firms must do to meet regulatory expectations.

Motor Finance Redress Scheme: What Firms Need to Know

Understanding the FCA's motor finance commission redress scheme, key deadlines, eligibility, and what affected firms must do to prepare.

Transaction Monitoring Systems: Meeting FCA's Updated Expectations

A practical guide to the FCA's Financial Crime Guide requirements for transaction monitoring, including AI approaches and good practice.

Client Categorisation Reform: New Routes to Professional Client Status

Understanding CP25/36 proposals for reformed client categorisation, including the new wealth-based route and consultation timeline.

FCA Fines in 2025: Lessons for Compliance Teams

Analysis of major FCA enforcement actions in 2025, including £124 million in fines, common compliance failures, and key lessons for firms.

Consumer Duty Evolution: What's Changing for Distribution Chains and Wholesale Markets

Upcoming FCA consultation on Consumer Duty application to distribution chains and potential exemptions for wholesale activities.

UK Bank Stress Test Results 2025 and FSCS Deposit Protection Increase: What Regulated Firms Need to Know

Bank of England stress tests confirm all major UK banks cleared capital hurdles. FSCS deposit protection rises to £120,000. Essential insights for regulated firms.

Payment Services Compliance Checklist for 2026

Essential compliance requirements for payment institutions and EMIs, including safeguarding, SCA, operational resilience, and reporting obligations.

FCA Consumer Composite Investments (CCI) Final Rules: Your 18-Month Implementation Roadmap

FCA publishes PS25/20 final CCI rules replacing PRIIPs KID. Optional start April 2026, mandatory June 2027. Complete implementation guide for UK firms.

Cryptoasset Marketing Rules: A Complete Guide for UK Firms

Understanding FCA's financial promotions regime for cryptoassets, approval requirements, and compliance checklist for crypto marketing in the UK.

APP Fraud Prevention: New PSR Requirements for 2025

Understanding the new Authorised Push Payment fraud rules, liability split changes, and how payment firms should prepare for mandatory reimbursement.

FCA Short Selling Regime: Understanding the Proposed Changes to UK Reporting Requirements

The FCA's CP25/29 consultation proposes major changes to short selling disclosure rules. Learn what investment managers need to know about the new framework.

AR Compliance: Managing Your Network Without the Headaches

Essential guidance on appointed representative oversight, due diligence requirements, and monitoring frameworks for principal firms.

FCA Motor Finance Redress Scheme: What Your Firm Needs to Know Before the 2026 Deadline

The FCA's proposed motor finance redress scheme could cost the industry £8.2bn. Expert analysis of CP25/27 and essential compliance steps for affected firms.

PSR-FCA Consolidation: What Payment Services Firms Need to Know About the Regulatory Merger

HM Treasury's consultation on consolidating the PSR into the FCA marks a significant shift for payment services regulation. Here's what your firm needs to know.

SMCR for Small Firms: A Practical Implementation Guide

Step-by-step SMCR implementation guidance for limited scope firms, including templates, common mistakes, and practical tips.

Financial Promotions Approval: What You Need to Know

A practical guide to financial promotions approval requirements, choosing an authorised approver, and ensuring your marketing is FCA compliant.

Appointed Representative Regime Reform: What UK Firms Need to Know About the New FCA Rules

HM Treasury's August 2025 policy statement introduces major changes to the appointed representative regime, requiring prior FCA permission before appointing ARs.

Consumer Duty One Year On: What Firms Should Be Doing Now

A review of FCA Consumer Duty expectations post-implementation, common compliance gaps, and practical steps for ongoing compliance in 2025.

FCA in Motion: Tough Enforcement & Redress Reform

This week, the FCA delivered action on two fronts: enforcement and redress reform. It’s a call for firms to be both vigilant and prepared.

Regulation in Motion: What the FCA Moved This Week

From fines to financial access, the FCA continues to evolve — balancing strong enforcement with structural reform.

This Week in FCA: Fines, Flexibility & Future Policy

This week’s FCA updates focus on growth, governance, and global cooperation. A record £42 million fine against Barclays underscores the FCA’s uncompromising stance on financial crime controls.

Crime, Clarity & Controls: This Week in FCA Action

This week, the FCA pulled no punches in its approach to market integrity and customer protection — issuing fines, securing convictions, and upgrading its regulatory infrastructure. Here's what matters and what firms should do next.

FCA's Evolving Vision: Safer Culture, Smarter Tech, Sharper Trust

This week, the FCA took a bold step forward in reshaping both how firms operate and how customers experience financial services.

FCA Weekly Brief: Homes, Payments & The Future of Finance

Explore this week’s FCA updates on mortgage reform, payment oversight, and market strategy — and what they mean for your firm’s next move.

From Market Abuse to AML: Five FCA Breach Categories to Watch in 2025

AML, conflict-of-interest and operational-resilience fines are rising fast. Learn how to safeguard your firm before the next FCA crackdown.

Inside the Top 10 FCA Fines: Governance Failures That Cost Firms £ 2.4 Billion

The ten largest FCA penalties now represent just over 50 percent of total fine value. Examine their root causes and the governance gaps boards must close.

Banks vs. the Rest: Why 83 Percent of FCA Fine Value Hits the Banking Sector

UK banks have paid £ 3.96 billion in FCA fines since 2013. Discover the root causes and a five-step compliance roadmap for 2025.

Twelve Years of FCA Enforcement: What £ 4.77 Billion in Fines Says About UK Financial Conduct

£ 4.77 billion in FCA fines since 2013. Explore annual trends, sector hot-spots and compliance priorities for 2025.

FCA Regulatory Brief – Priority Actions for Firms 9 May – 22 May 2025

The FCA’s announcements between 9 May – 22 May 2025 underscore three immediate themes for regulated firms

Buy-Now-Pay-Later gets real: what the 2025 draft Order means for short-term interest-free credit – and why firms must start planning now

Five years on from the Treasury’s initial pledge, Parliament now has the Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025 on its table

FCA Regulatory Brief – Priority Actions for Firms

The FCA's recent activities highlight its focus on several key areas: conduct and culture, tech adoption, data and reporting efficiency, and global reach. The blog emphasizes that firms should proactively align with these themes to prepare for future supervision.

Operational Resilience: What Firms Must Demonstrate Post-Deadline

A practical guide to FCA and PRA operational resilience requirements now that the March 2025 deadline has passed, including ongoing compliance expectations.

Preparing for Future Challenges: Emerging UK Crypto Regulations and Strategic Planning

In the concluding part of our series, we shift focus to tomorrow’s regulatory environment—including pending legislation, potential expanded authorisation requirements, and international alignment trends.

Achieving FCA Compliance in the UK Crypto Sector: Registration, Best Practices, and Case Studies

Having explored the regulatory foundations in our first article, we now turn to the nuts and bolts of achieving FCA compliance.

Navigating the UK Crypto Landscape: Key Definitions and Regulatory Overview

The United Kingdom has a rapidly evolving crypto market with growing consumer interest. Yet, despite increased adoption, many crypto businesses and investors remain uncertain about the rules governing this space.

FCA Announces Payment Services Authorisation Information Sessions

The FCA Payment Services Authorisation Information Session will take place on 9 May 2025 in Stratford, with a virtual session in June. This event is essential for payments and e-money firms seeking FCA authorisation, as well as advisory firms supporting the sector.

FCA Announces Significant Changes to Authorisation Process - January 2025 Update from MEMA Consultants

In a landmark announcement, the Financial Conduct Authority (FCA) has unveiled substantial changes to its authorisation process, demonstrating a clear commitment to supporting growth in the UK financial services sector. As your trusted regulatory partner, MEMA Consultants brings you a detailed analysis of these important developments.

Understanding Consumer Duty: A Comprehensive Guide for 2025

Everything UK financial services firms need to know about Consumer Duty compliance, including the four outcomes and practical implementation steps.

Preparing for Change: The UK's Move to Regulate 'Buy Now, Pay Later' Lenders

Understand the UK's proposed regulation of 'Buy Now, Pay Later' lenders and what financial firms need to prepare for. Insights from MEMA Consultants.

The Importance of Timely Disclosure: Lessons from the FCA's £350,000 Fine on Wise CEO

Discover how Wise CEO Kristo Käärmann's failure to notify the FCA of significant tax issues led to a substantial fine. Learn key compliance lessons for financial firms from MEMA Consultants.

Putting Customers First: Insights from the FCA's £10.9 Million Fine on TSB

Learn from TSB's FCA fine for failing to treat customers fairly. Discover how to align your firm's practices with regulatory expectations with MEMA Consultants.

FCA's New Listing Rules: Paving the Way for a Stronger UK Capital Market

Navigate the New Financial Crime Landscape with FCA's Updated Guide and MEMA Consulting's Expertise

In response to evolving regulatory landscapes and recent global events, the Financial Conduct Awareness (FCA) has unveiled proposed updates to its Financial Crime Guide, CP24/9. The revisions aim to enhance sanctions systems, address proliferation financing, and refine transaction monitoring with a focus on modern technologies like Artificial Intelligence and cryptoassets. With these updates, the FCA seeks to fortify financial crime prevention measures and ensure firms are well-equipped to meet new challenges. As firms adapt to these changes, MEMA Consulting stands ready to offer expert guidance and tailored support, helping businesses align with FCA's stringent standards and navigate this complex regulatory terrain effectively.

AML compliance in cryptocurrencies is impacted by the EU's expansion of policies

The European Parliament has decided to approve a set of rules to enhance the EU's anti-money laundering and terrorist financing tools, with a specific focus on the cryptocurrency business. The regulation mandates the implementation of heightened due diligence protocols and identity verifications for customers. Obligatory entities, including cryptocurrency asset managers and institutions, are required to notify Financial Intelligence Units (FIUs) or other competent authorities of any suspicious activities. An elevated degree of due diligence is being applied to the cryptocurrency sector.

Improving Oversight of Appointed Representatives in the Credit Broking Industry Introduction

The Financial Conduct Authority (FCA) has recently assessed the key harms and drivers of harm caused by Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs) in the credit broking sector. The regulator has identified areas for improvement in the due diligence checks conducted by principal firms when appointing ARs and in their ongoing monitoring of these representatives. This article will discuss the issues identified by the FCA and how firms can address these concerns to ensure better oversight of their ARs and IARs.

Financial crime poses significant threats that undermine market integrity and public trust

Financial crime undermines market integrity and public trust, prompting the FCA's 3-year strategy. MEMA advises firms to use tech, collaborate, educate, strengthen compliance, foster responsibility, and support AML reform. For assistance, contact MEMA's experts.

Revised U.K. Financial Regulators' Complaints Scheme - Coming into effect 1, November 2023

In a collaborative effort, the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and Bank of England have unveiled their revised Complaints Scheme, which fundamentally shapes the protocol for addressing and managing grievances lodged against the U.K. regulatory bodies. This revamped framework encompasses several significant modifications:

Use of Personal Communications Channels. A Compliance Concern for Regulated Entities

In today's digital age, the use of personal communications channels for work purposes has become a major point of contention for regulated entities. Financial services regulators globally,

FCA's New Consumer Duty Takes Center Stage Amid Cost of Living Crisis

The Financial Conduct Authority (FCA) has highlighted its focus on ensuring good consumer outcomes in its latest Business Plan, selecting 'putting consumers' needs first' as one of its four priority areas for the upcoming year. This comes in response to the ongoing cost of living crisis, and the FCA is committing additional resources and headcount to Consumer Duty-related activities.

Review of the Senior Managers & Certification Regime (SMCR)

On 30 March 2023, the UK government and regulators initiated a review of the Senior Managers & Certification Regime (SMCR) through a Call for Evidence from Her Majesty's Treasury (HMT) and a joint Discussion Paper (DP23/3) from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

Horizon Scanning for Compliance Officers in UK Banking & Payment Services Sector: Key Strategies

Horizon scanning is a key component of this role, as it helps compliance officers stay informed of emerging trends, changes in regulations, and technological advancements that could impact their organization. In this article, we'll provide key strategies and best practices for successful horizon scanning in the UK banking and payment services sector.

The Motor Finance Industry: How to Apply the Consumer Duty Principle

On 1 March 2023, the FCA released a portfolio letter titled "Implementing the Consumer Duty in the Motor Finance Providers Portfolio." The letter highlights the need for a more consumer-focused approach and emphasizes that CEOs or directors should personally focus on implementing the Consumer Duty.

Buy now pay later agreements to become regulated in the UK

Currently, BNPLs and STFC companies benefit from the exemption under Article 60F of the Financial Services and Markets Act (Regulated Activities) Order 2001 (RAO). Firms providing BNPL products benefiting from the 60F Exemption do not have to be FCA authorised and the agreements do not need to be in a prescribed form under the CCA.

Consumer Credit Reforms - Are they long overdue?

The Consumer Credit Act 1974 (CCA) is a significant piece of legislation that regulates credit agreements, such as personal loans, overdrafts, and credit card purchases. However, the CCA has undergone numerous changes over the years, resulting in a fragmented and complex consumer credit framework that is difficult to navigate.

5 Steps for Conducting Effective Compliance Control Monitoring for Financial Firms

Compliance control monitoring is a crucial aspect of maintaining regulatory compliance for financial firms. The Financial Conduct Authority (FCA) requires firms to have robust controls and monitoring systems in place, and it is up to individual firms to implement these measures effectively. In this article, we will discuss the steps that firms can take to conduct compliance control monitoring.

FCA's Portfolio Strategy on Claims Management Companies: A Detailed Compliance Guide for CMC Firms

The Financial Conduct Authority (FCA) recently released its Portfolio Strategy on Claims Management Companies (CMCs) outlining its approach to regulating this sector and identifying key risks.

What are the FCA financial promotions and what internal controls should you set up

A financial promotion is any advertisement, communication, or other material that promotes a financial product or service. Financial promotions can take many forms, including print and online advertisements, marketing emails, social media posts, and sales presentations.

What are the FCA Fit & Proper Requirements and Conduct rules?

Following on from our previous article about the Senior Manager regime, we provide more detail about the FCA Fit & Proper Requirements and Conduct rules.

What is the Appointed Representative Regime?

In this series of articles, MEMA will break down what is the Appointed Representative Regime and what steps your organsiation will need to take.

What is the Senior Managers & Certification Regime ?

The Senior Managers and Certification Regime (SM&CR) replaces the Approved Persons Regime (APR) which is how the FCA used to regulate people working in financial services.

What is the FCA Consumer Duty and how does it affect your firm?

The FCA Consumer duty is a key principle of the regulatory framework that governs the financial sector in the UK. This principle requires financial firms to always act in the best interests of their customers and to put the interests of consumers first when carrying out their activities.

Are you aware of the FCA rules to protect consumers from rogue financial promotions

Did you know that the FCA has published a consultation paper and press release setting out how it proposes to operate a new authorisations gateway for firms wanting to continue approving financial promotions for unauthorised persons.

FCA's new rules on Appointed Representative Regime

Changes to the Appointed Representatives regimes will take effect from 08 December 2022. The final rules were published in the Financial Conduct Authority’s policy statement to improve the appointed representative's regime.

How to get FCA authorised (part 3)

As part of our How To series on 'How to get FCA authorised'. We are addressing all aspects of preparing for FCA authorisation. This will look to cover a range of key items your business should consider from the location of offices, and expected fees to resourcing.

How to get FCA authorised (part 2)

As part of our How To series on 'How to get FCA authorised'. We are addressing all aspects of preparing for FCA authorisation. This will look to cover a range of key items your business should consider from the location of offices, and expected fees to resourcing.

How to get FCA authorised (part 1)

We are launching a new How To series on 'How to get FCA authorised'. This will look to cover a range of key items your business should consider from the location of offices, expected fees to resourcing. We will start on the first few key areas covering

How much are the FCA fees?

The common question we receive when firms are deciding whether to get authorised or not as an FCA regulated firm is how much will it cost?

How to conduct a Business and Customer Risk Assessment

A business risk assessment provides visibility of the levels of AML risks within your firm to demonstrate the application of a risk-based approach. The outcome of the BRA is an AML risk rating for you and the organisational chart of business units is differentiated into high, medium or low risk. The BRA evaluates the AML risks faced by the business and demonstrates that it allocates resources according to the risk-based approach.

What are AML Trigger events your team needs to be aware of?

Trigger Events highlight instances where there may be a change in customers’ circumstances.

What is money laundering and what are some red flags you should consider?

Money laundering is the process of concealing or disguising the existence, source, movement, destination, or use of illicitly-derived property or funds to make them appear legitimate.

Who would be considered a Politically Exposed Person (PEP)?

“A Politically Exposed Person (PEP) is a natural person who is or has been entrusted with prominent public functions and includes his/her immediate family or persons known to be close associates of such persons, but shall NOT include middle ranking or more junior officials.”

What is Customer Due Diligence and what controls should you focus on?

Customer due diligence (CDD) is a key element in helping your firm:

MEMA joins the APCC!

We are pleased to announce that our application for MEMA Consultants Limited to become a member of the Association of Professional Compliance Consultants (APCC) has been successful.

What is terrorist financing in simple terms

In the UK, Part 3 of the Terrorism Act 2000 criminalises terrorist financing and makes it an offence to:

The UK Financial Crime Legislation framework

MEMA has produced this financial crime series for firms, to understand the steps they can take to reduce their financial crime risk. It does not include all the financial crime risks a firm may face but provides an understanding of FCA expectations in this complex field.

Financial Crime- Understanding the FCA Handbook rules

MEMA has produced this financial crime series for firms, to understand the steps they can take to reduce their financial crime risk. It does not include all the financial crime risks a firm may face but provides an understanding of FCA expectations in this complex field.

What are UK sanctions and how to conduct sanctions screening?

Sanctions are normally used by the international community for one or more of the following reasons:

Preparing for the TPR Regime

The Temporary Permissions Regime ('TPR') was designed in response to Brexit to ensure that European firms operating in the UK via a passport could continue operating temporarily while they seek full authorisation in the UK.

What is an FCA Final Notice

If you follow regulatory news, you will understand the FCA releases news of final notices and fines issued on firms and individuals that have breached its rules.

Credit Broking- a brief FCA guide

At MEMA, we believe in upskilling our readers and clients as much as possible. We will be releasing brief explanations into Financial Conduct Authority (FCA)-regulated areas, so you can understand quickly what are the requirements in that area. Our first area will be Credit Broking.

How to navigate the Skilled Person Review

As part of our How to series, we thought to release a brief guide on what to do when you are required to appoint a Skilled Persons by the regulator.

How to write a FCA business plan

We intend on launching a range of How-To articles to help you understand and resolve your ongoing regulatory compliance matters. Our first instalment is a guide on how to write a regulatory business plan.

Learn how to conduct Wind Down Planning

The FCA recently completed a thematic review of wind-down processes across a number of business models. The review was aimed at reviewing firms on whether they held the appropriate liquidity, examining intragroup dependencies and wind-down triggers.

How you can enhance your financial crime controls

The Financial Conduct Authority has released its key findings from its recent review of financial crime controls at several challenger banks. There are quite a few takeaways you can take to actively enhance your systems and controls.

What to take away from the FCA's Business Plan 2022-2023

The FCA has released its new business strategy for the next 12 months.

FCA Consumer Duty

The FCA has outlined a new Consumer Duty. This will most likely be set out as rules and guidance in the FCA handbook. Ultimately, there will be a higher level of protection for consumers and a higher level of expectation of care from firms providing services.

New restrictions on the financial promotions of crypto assets

The Financial Conduct Authority (FCA) has launched a consultation paper (CP22/2) on financial promotion rules for high-risk investments, including crypto assets.

Vulnerable customers – understanding and meeting the FCA’s guidelines

Fair treatment of vulnerable customers has been a longstanding concern for the FCA . The FCA has released the Finalised Guidance (FG21/1). It sets out its view of what firms should do to comply with their obligations under the Principles and ensure they treat vulnerable customers fairly.

What are regulatory controls and how do you conduct control monitoring

As a regulated firm or a firm wishing to become regulated, you will need to ensure you have a robust control plan and can conduct effective monitoring of controls. In this article, we will detail what a control plan is and the steps you can take to conduct effective control monitoring.

Consumer Credit - New regulatory considerations

The FCA’s, Director of Consumer and Retail Policy has recently provided its view on where changes are required in the Consumer Credit market. This detail arising from a speech identified that Consumer credit remains a key priority for the FCA.

FCA Fee Cap on CMCs

You will be aware that the FCA’s price cap is coming into existence on 1 March 2022. As a quick primer, this means there will now be five redress bands with a maximum fee charged per band.

Funeral plans come under FCA regulation July 2022

The FCA has confirmed that from 29 July 2022, it will take on responsibility for regulating and supervising the pre-paid funeral plans market.

Regulatory considerations for Consumer Credit Firms

The FCA has set out new rules for claims management companies (CMCs) to protect consumers against excessive charges. Some of the major changes include:

Regulatory considerations for Consumer Credit Firms

The FCA's Director of Consumer and Retail Policy has recently provided its view on where changes are required in the Consumer Credit market.

The FCA Register

As an institution with financial services activities, you are likely to require authorisation by the FCA.

Understanding the Regulatory Landscape

At MEMA, in discussions with our customers (current and prospective) we identified a common theme, understanding the regulatory landscape is problematic and requires clearer descriptions aid understanding.

Anti Money Laundering warnings

The Financial Conduct Authority (FCA) issued a warning to retail banks in May 2021 (made public on 29 June) over continued weaknesses and failings surrounding their financial crime controls.

Regulation of the funeral plan market

On 5 July 2021, the Financial Conduct Authority (FCA) launched a consultation (CP21/20) on its proposals for regulating the pre-paid funeral plan sector. This is part of an extensive regulatory change in the pre-paid funeral plan market. Under the proposals, the FCA will take over regulation from the Funeral Planning Authority (FPA) on the 29th July 2022.‍

FCA Financial Promotions Quarterly Review

In our first of the series on regulatory smarts, we alert you to the quarterly financial promotion release issued by the FCA

Claims Management Phoenixing

The FCA has released its latest consultation paper affecting the Claims Management Industry.

Understanding virtual asset service providers

Virtual asset service providers have been defined as a new financial sector facing significant money laundering and terrorist financing risks.

Estate agency guidance for money laundering supervision- Part 1

If you are supervised by the HMRC for anti-money laundering purposes, you will need to meet requirements under the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017.

FCA Crypto Requirements

The Financial Conduct Authority (FCA), the UK Regulator, has established a Temporary Registration Regime that will allow existing crypto-asset firms, who have applied to be registered with the FCA, to continue trading in the UK financial market.

Planning for FCA Authorisation

In this article, we briefly cover how long to expect when firms are submitting their applications for authorisations to the Financial Conduct Authority (FCA).

Preparing for your annual FCA Reporting Requirements

Your firm is due to submit its regulatory return(s) within 30 business days of your Accounting Reference Date. Reporting requirements apply to all firms with permissions to carry on regulated claims management activities, including firms with temporary permissions.

Claims Management Companies and High Cost Lenders

In a recent post, the FCA has released its views urging Claims Management Companies and High Cost Lenders to work better together

Notfication for FCA Directory Persons

Have you completed your FCA Directory Persons? If you have not heard or are wondering, by 31 March 2021, the FCA is proposing that solo regulated firms (you) must submit their Directory Persons data via Connect.

Preparing financial projections for the FCA

In this article, we briefly cover the financial projections that companies are expected to produce when submitting their application to the Financial Conduct Authority (FCA).

Understanding the FCA Culture and Governance requirements

The financial crisis placed banks under the public spotlight, the investigation into some of the practices revealed behaviors that caused public indignation, Payment Protection Insurance (PPI) is but one example. The financial crisis placed banks under the public spotlight, the investigation into some of the practices revealed behaviors that caused public indignation, Payment Protection Insurance (PPI) is but one example.

Deconstructing the Dear CEO Letter

On 26 October 2020, the FCA issued its warning to CMC firms regarding their steps taken to fully investigate the merits of each potential claim before pursuing it.

FCA Threshold Conditions

Firms that apply for FCA authorisation have to meet the Financial Conduct Authority's minimum standards to become authorised – known as the “Threshold Conditions”.

FCA Cryptocurrency Regulation Part 1

From 10 January 2020, the FCA became the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor for crypto firms, covering firms that exchange money to and from crypto assets and those that safeguard their customers crypto assets.

Understanding the FCA thematic review (part1)

The Financial Conduct Authority carries out regular ‘thematic reviews’ into areas requiring further review by firms in the financial services industry.