Topic hub
Fund managers, advisers and wealth firms: market structure, valuation, client categorisation and conduct reforms explained.
Topic briefing
Consumer investments firms, including financial advisers and investment platforms, have to be authorised by the FCA, and the authorisation page was last updated on 4 August 2026. A business plan that is not detailed or tailored makes an application take longer, and applications where polluter behaviour risk is identified face significant extra scrutiny.
The FCA's consumer investments authorisation page lists financial advisers, wealth management or stockbroking firms, investment platforms, SIPP operators and crowdfunders as consumer investments firms. These firms have to be authorised by the FCA. Applicants register on Connect, apply through it, pay the application fee and include a regulatory business plan and financial forecasts.
Sources: Apply to become a consumer investments firm · COBS 2.1 Acting honestly, fairly and professionally · COBS 9A.2 Assessing suitability: the obligations · SYSC 4.1 General requirements
Featured article
CP26/16 closed on 9 July 2026. Its proposals concern safekeeping delegation and the authorised fund registration function, not a new FCA data return.
Investment ManagementPension value-for-money assessments start with comparable data
Investment ManagementSIPP reform: due diligence and asset controls under FCA CP26/20
Investment ManagementAIFM proportionality depends on operating-model evidenceShowing 1–12 of 12 articles
CP26/16 closed on 9 July 2026. Its proposals concern safekeeping delegation and the authorised fund registration function, not a new FCA data return.
The FCA proposes a consistent value-for-money framework, with larger schemes expected to begin comparable assessments from 2028 if the proposals are finalised.
CP26/20 proposes explicit SIPP due-diligence rules and a Pension Scheme Money and Assets regime. We examine the evidence and operating-model decisions.
CP26/28 proposes three AIFM size tiers, a new ALTS sourcebook and revised transition rules. Classification decisions will depend on reliable operating-model evidence.
CP26/26 proposes consolidated fund returns, essential and enhanced reporting tiers, and different reporting lags. This analysis maps the proposal to fund-level data controls.
The FCA proposes consolidating three existing remuneration codes into a single framework for AIFMs, UCITS managers and MIFIDPRU investment firms, with the consultation having closed on 16 September 2026.
The FCA's targeted support regime, in effect since 6 April 2026: a regulated middle ground between guidance and advice, and the authorisation needed.
What the FCA found in its review of private markets valuation and the compliance expectations for firms managing private equity, credit and real estate.
How consolidation in financial advice, driven by private equity and national consolidators, has drawn enhanced FCA scrutiny, and what it means for firms.
CP25/36 explained: the FCA's proposed new routes to professional client status, the Wholesale Markets Review context and what wholesale firms should note.
The Bank of England's 2025 stress test results and the FSCS deposit protection increase, and what they mean for regulated firms.
How the FCA's short selling regime moved from the CP25/29 proposals to the PS26/5 final rules, and what it means for managers and trading desks.
The MEMA Brief
Weekly updates on FCA developments, analysis and upcoming deadlines for regulated firms.
Prefer to talk it through? Book a free scoping call. No spam. Unsubscribe at any time.
