At A Glance
Fast takeaways for decision-makers.
- 1Conduct & culture – rising whistle-blowing cases and fresh insider-dealing convictions foreshadow tougher enforcement.
- 2Tech adoption – new live-testing proposals for AI and a roadmap for crypto-trading venues demand forward-looking risk controls.
- 3Data & reporting efficiency – streamlined consumer-credit returns signal a broader “smarter reporting” push.
- 4Global reach – speeches on UK-China cooperation and the appointment of a dedicated payments lead underscore growing cross-border scrutiny.
Source Notes
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
Top-ten developments, why they matter, and 30-day actions
FCAFCA Source
The FCA’s output over the past fortnight sharpened its focus on:
- Conduct & culture – rising whistle-blowing cases and fresh insider-dealing convictions foreshadow tougher enforcement.
- Tech adoption – new live-testing proposals for AI and a roadmap for crypto-trading venues demand forward-looking risk controls.
- Data & reporting efficiency – streamlined consumer-credit returns signal a broader “smarter reporting” push.
- Global reach – speeches on UK-China cooperation and the appointment of a dedicated payments lead underscore growing cross-border scrutiny.
Firms that proactively map these themes to their SM&CR accountability, Consumer Duty evidence and operational-resilience plans will be best placed for the 2025/ 26 supervisory cycle.
Top-ten developments, why they matter, and 30-day actions
| # | Release & date | Why it matters | What firms should do within 30 days |
|---|---|---|---|
| 1 | Whistle-blowing data Q1 2025 – 12 May FCA | 468 cases closed; enforcement or s166 action followed in 2.6 % of closures, with conduct and market-abuse themes dominant |
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| 2 | PS25/4 – pooled-fund research payment option – 9 May FCA | Restores joint-payment accounts, reversing MiFID II unbundling constraints for UCITS/AIF managers |
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| 3 | Insider-dealing conviction – 9 May FCA | Professional traders pleaded guilty; FCA stresses personal accountability and will seek confiscation orders |
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| 4 | Review of smaller asset managers – 8 May FCA | Liquidity stress-testing and valuation controls weakest; targeted follow-ups expected |
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| 5 | David Geale appointed Exec Director Payments & Digital Finance – 8 May FCA | Signals consolidation of PSR into FCA and intensified scrutiny of payments, open-banking and crypto sectors |
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| 6 | Consumer-credit data-return overhaul – 7 May FCA | New return replaces two existing returns and pauses four more, cutting 28 % of questions | Identify changed fields; align IT schemas Update data-governance policy and brief finance teams |
| 7 | Crypto trading-platform roadmap (DP25/1) – 2 May FCA | Frames future rules on intermediaries, staking, lending and DeFi; feedback due 13 June |
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| 8 | Restriction on Direct Trading Technologies – 2 May FCA | Own-initiative requirement freezes CFD broker for governance and FR&C failings, showing faster supervisory intervention |
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| 9 | AI live-testing service engagement paper – 29 Apr FCA | Proposed sandbox allows 12-18-month live validation of AI models starting Sept 2025 |
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| 10 | Speech: strengthening UK-China financial partnership – 12 May FCA | FCA chair highlights deeper cooperation on green finance, wealth management and supervision |
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