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FCA News & Analysis
Beyond the headlines: Impact analysis, sector insights, and actionable intelligence from ex-FCA regulators. Monitor consultations, enforcement, and policy changes affecting your firm.
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FCA news & analysis
565 FCA publications, newest first, 16 of them priority (score 90+). Our own commentary is in Our analysis Showing 1–40 of 561.
- News & SpeechesFCA proposes greater pension investment flexibility to support long-term value for saversWhat changed – The FCA is consulting on a proposal to exempt performance‑linked fees (e.g., private‑equity, venture‑capital and private‑credit charges) from the charge‑cap that applies to default funds in workplace pensions. The change would give pension providers optional flexibility to invest in a wider range of long‑term assets, provided any higher fees are justified by added value for savers. Who is affected – All UK workplace pension providers (including scheme trustees and Independent Governance Committees) that run default investment options, and ultimately the savers whose contributions are invested in those funds. Actions to consider (process steps only) 1. Review the consultation paper (CP26/40) and map current fee structures against the proposed exemption. 2. Assess whether performance‑linked fees could add measurable value for members, including risk‑adjusted return analysis. 3. Update governance and transparency policies to meet the FCA’s proposed safeguards (fee allocation, valuation of private assets, information access for IGCs). 4. Prepare a formal response to the FCA, outlining any concerns or support for the proposal. Deadline – Consultation closes 14 January 2027; final rules are expected in summer 2027. Source – FCA RSS feed, consultation CP26/40 – Exempting performance fees from the workplace pensions charge cap.Consumer CreditBanking12 November 2026 · deadline 14 Jan
- ConsultationPriorityCP26/40: Exempting performance fees from the workplace pensions charge capWhat’s changing – The FCA is consulting on proposals to exempt performance‑fee charges on private‑market assets (e.g., private equity, venture capital, private credit) from the 0.75 % charge‑cap that applies to default workplace pension schemes. The exemption would mirror the DWP’s 2023 rule for trust‑based schemes and add new safeguards on fee transparency and asset‑valuation scrutiny. Who is affected – Private‑asset fund managers and providers of performance‑fee structures. Firms that run contract‑based workplace pensions, including their Independent Governance Committees (IGCs) and Governance Advisory Arrangements (GAAs). Trustees, sponsors and administrators of trust‑based DC schemes, and the savers/beneficiaries of those schemes. Employers and any service‑provider or stakeholder involved in scheme governance. Process steps to consider 1. Review the proposed exemption and the accompanying Technical Annex (cost‑benefit analysis). 2. Assess current performance‑fee arrangements against the new transparency and valuation safeguards. 3. Update internal policies and governance frameworks to ensure any performance fees meet the “savers’ best interests” test. 4. Prepare a response (comments, concerns or support) for the FCA consultation. Key deadline – Submit comments by 14 January 2027 (online form or email to cp26‑40@fca.org.uk). Final rules are expected in summer 2027. Source – FCA Consultation Paper CP26/40 – Exempting performance fees from the workplace pensions charge cap (CP). (Word count: 158)Consumer CreditBankingCorporate Finance12 November 2026 · deadline 14 Jan
- News & SpeechesOperational resilience of trading venuesWhat changed? The FCA did not introduce new prescriptive rules, but it highlighted that trading venues must prepare for the new operational‑incident reporting regime that becomes mandatory on 18 Mar 2027. The review also reinforces expectations that venues map all dependencies, test resilience across the supply chain and consider emerging risks from AI, quantum computing and extended trading hours. Who is affected? All UK‑registered trading venues (including recognised investment exchanges and multilateral trading facilities) that operate wholesale markets. Actions to consider (process steps only) 1. Read the FCA’s findings and the accompanying “Operational resilience: demonstrating resilience in practice” guidance. 2. Map internal and third‑party dependencies end‑to‑end; update the resilience register. 3. Design and run scenario‑based testing (including cyber‑attack, technology failure and supply‑chain disruption) covering the full supply chain. 4. Integrate emerging‑technology risk assessments (AI, quantum, extended hours) into the resilience framework. 5. Align incident‑identification, classification and escalation procedures with the operational‑incident reporting rules slated for 18 Mar 2027. 6. Document findings and remediation plans; embed them in board‑level resilience oversight. Key deadline 18 Mar 2027 – start of the FCA’s operational‑incident reporting obligations. Source FCA RSS feed: Operational resilience of trading venues – https://www.fca.org.uk/news/rss/operational-resilience‑trading‑venues Document type: RSS.11 November 2026
- News & SpeechesOperational resilience: demonstrating resilience in practiceWhat changed – The FCA’s latest RSS (May 2026) highlights that, after the operational‑resilience transition period ended in March 2025, firms must now show real‑time evidence of what they can deliver during a severe but plausible disruption, rather than relying on future remediation or transformation plans. Who is affected – All FCA‑regulated firms that submit operational‑resilience self‑assessments (the “important business services” firms), including those with significant third‑party or digital‑service‑provider dependencies. Actions to consider (process steps only) 1. Review the 2025‑2026 self‑assessment findings and identify any remaining vulnerabilities, especially cyber‑risk and third‑party reliance. 2. Strengthen governance records: capture board and senior‑management decisions on resilience, including assumptions and residual‑risk assessments. 3. Gather concrete evidence (test results, incident‑response logs, recovery‑time‑objective data) that demonstrates capability to operate under severe disruption. 4. Update your impact‑tolerance statements to show how you would limit consumer harm and market‑integrity threats even if full recovery exceeds the tolerance window. 5. Document remediation actions and timelines for any capability gaps identified. Deadline – Firms should incorporate these evidence‑focused improvements before submitting their next annual operational‑resilience self‑assessment (due by 31 March 2027). Source – FCA RSS: “Operational resilience: demonstrating resilience in practice” (https://www.fca.org.uk/news/operational-resilience-demonstrating‑resilience‑practice).Consumer Credit11 November 2026
- News & SpeechesMan sentenced over £154m fake takeover bid targeting UK-listed companyWhat changed – The FCA secured a criminal conviction and a 2‑year prison term (suspended for 2 years) against Christopher Woolcott for staging a £154 m fake takeover bid on Touchstone Exploration Inc., an FCA‑regulated UK‑listed oil‑and‑gas company. The case highlights the FCA’s use of transaction‑reporting data, phone records, CCTV and forensic analysis to detect market‑manipulation fraud. Who’s affected – Listed companies and their boards (e.g., Touchstone Exploration) – risk of fraudulent takeover attempts. Investors and shareholders – potential price manipulation. Market participants – must ensure takeover communications are authentic and comply with the Market Abuse Regulation (MAR) and the Fraud Act 2006. Firms’ compliance teams – responsible for monitoring unusual share‑holding buildups and bid activity. Actions to consider (process steps only) 1. Review internal controls for takeover‑bid disclosures against MAR requirements. 2. Implement robust verification of counterparties and documents (e.g., check identities, use secure electronic signatures). 3. Enhance transaction‑monitoring alerts for rapid share‑price movements following large stake acquisitions. 4. Conduct periodic training on fraud‑by‑false‑representation and forgery offences. 5. Document and retain communications and evidence to support any FCA enquiry. Deadlines – No specific regulatory deadline arises from this case, but firms should complete the above control reviews and training within the next 3 months to align with best‑practice expectations and avoid enforcement risk. Source – FCA press release, RSS feed: https://www.fca.org.uk/news/press-releases/man-sentenced-over-154m-fake-takeover-bid Document type – RSS (press release).Consumer CreditInvestmentCorporate Finance10 November 2026
- DecisionThe not-so-fine print: making consumer contracts fairWhat changed – The FCA Decision “the not‑so‑fine print: making consumer contracts fair” reiterates that all firms must ensure every term in a consumer contract complies with the Consumer Rights Act 2015 (CRA) and the FCA’s Consumer Duty. Unfair terms are now explicitly unenforceable and may trigger redress, court injunctions or voluntary undertakings. Who’s affected – All UK‑authorised firms that supply financial products or services to consumers – including lenders, insurers, financial advisers, crypto‑wallet providers and any other firm using standard terms and conditions. Actions to consider (process steps only) 1. Contract review – Conduct a systematic check of all consumer‑facing terms against CRA fairness and transparency tests. 2. Identify gaps – Flag any terms that could be deemed unfair (e.g., excessive fees, ambiguous wording, deterrent complaint charges). 3. Amend/delete – Revise or remove non‑compliant terms and stop relying on them in existing contracts. 4. Redress planning – Prepare to calculate and pay compensation to any customers harmed by the unfair term. 5. Undertaking/notification – If required, submit a voluntary undertaking to the FCA and update the FCA register. 6. Monitor – Put ongoing governance in place to catch future unfair terms before product launch. Deadlines – Firms should complete the initial review and implement any necessary changes within 30 days of receiving a FCA notice; redress payments must be made as soon as practicable, typically within 60 days of the FCA’s final order. Source – FCA Decision, “The not‑so‑fine print: making consumer contracts fair” – Decision document. URL: https://www.fca.org.uk/decision/not-so-fine-print‑making‑consumer‑contracts‑fair.Consumer CreditInsurance6 November 2026
- News & SpeechesSenior management responsibilities and accountability at the FCAWhat changed – The FCA has published an RSS‑type update outlining how it applies the Senior Managers and Certification Regime (SM&CR) to its own senior leadership. The update details the allocation of “Senior Management Functions” (SMFs) and the corresponding accountability map across the FCA’s executive team, reinforcing the regime’s principles of transparency and governance. Who’s affected – All FCA‑regulated firms (including banks, insurers, investment firms, and fintechs) that are subject to the SM&CR. The FCA’s internal model serves as a benchmark for firms when designing their own SMF allocations and accountability statements. Actions to consider (process steps only) 1. Review the FCA’s SMF allocation table and compare it with your firm’s current SMF mapping. 2. Identify any gaps or inconsistencies in role‑based accountability, especially for functions such as Risk, Compliance, Conduct, and Operational Resilience. 3. Update your firm’s senior management statements and internal governance documents to reflect any new expectations derived from the FCA’s example. 4. Communicate revised responsibilities to all senior managers and ensure they sign off on their SMF statements. 5. Embed the updated accountability framework into your annual compliance monitoring and internal audit plans. Deadline – No formal deadline is set in the RSS release, but firms should align their SMF allocations with the FCA’s published approach as part of their next regulatory reporting cycle (typically by the end of the current financial year). Source – FCA, “Senior management responsibilities and accountability at the FCA” (RSS). https://www.fca.org.uk/news/rss/senior-management-responsibilities-accountability5 November 2026
- News & SpeechesFCA acts to protect consumers facing demands for disguised remuneration scheme loan repaymentsWhat changed – The FCA has imposed firm‑wide restrictions on Ethica Resolve Limited (Ethica), an FCA‑authorised debt‑collection firm, after it demanded repayment of loans that were part of “disguised remuneration” schemes. The restrictions apply while regulatory and legal questions about the enforceability of those loans are being resolved. Who’s affected – Contractors, consultants and agency workers (the “affected consumers”) who were offered loans instead of salaries under disguised remuneration arrangements and who have received repayment demands from Ethica on behalf of West 28th Street Limited (West 28), an un‑authorised third‑party lender. Actions to consider (process steps only) 1. Identify any customers who have received a repayment demand from Ethica relating to a disguised‑remuneration loan. 2. Notify internal compliance teams and flag these accounts for review. 3. Advise affected customers that, under the FCA agreement, they do not have an enforceable obligation to pay at this stage and that no further payment demands will be made pending resolution. 4. Ensure staff do not pursue default judgments or additional collection activity until the FCA restrictions are lifted. 5. Provide information on seeking independent legal or debt advice and on reporting any undue pressure to the FCA. 6. Screen for vulnerability and apply additional protections where appropriate. Deadline – The FCA‑mandated restrictions are effective immediately and remain in force until the regulatory and legal issues are resolved; firms must comply with the new conduct rules from the date of the FCA’s RSS notice. Source – FCA, RSS release: “FCA acts to protect consumers facing demands for disguised remuneration scheme loan repayments.”Consumer Credit5 November 2026
- News & SpeechesLooking back to move forward: why reviewing our rules mattersWhat changed – The FCA reiterated its ongoing commitment to periodically review, simplify or, where appropriate, remove rules to keep pace with market evolution, shifting consumer behaviour and emerging technology‑driven risks. Who’s affected – All FCA‑regulated firms (banks, insurers, investment firms, fintechs, consumer credit providers, etc.) and any entities that rely on FCA rules to conduct regulated activities. Actions to consider (process steps only) 1. Map current policies and procedures against the FCA’s rulebook to identify any provisions that may be due for review. 2. Establish a standing “rules‑review” governance sub‑committee (or assign responsibility within existing compliance function). 3. Monitor FCA publications (e.g., Consultation Papers, Policy Statements) for upcoming rule‑change proposals. 4. Conduct a risk‑based impact assessment for any proposed amendments that could affect your products, services or technology platforms. 5. Update internal controls, training programmes and client communications where rule changes are confirmed. Deadlines – No specific deadline is set in this RSS release; firms should embed continuous monitoring into their compliance calendars and be prepared to act as soon as formal proposals are published. Source – FCA, “Looking back to move forward: why reviewing our rules matters”, RSS feed. Document type – RSS.5 November 2026
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- News & SpeechesFCA to explore quantum computing to tackle financial crimeWhat changed? The FCA is launching a regulator‑led “Quantum Experimentation Group” to test quantum‑computing applications for financial‑crime detection, starting with quantum machine‑learning models for money‑laundering and fraud. Who is affected? UK‑based financial‑services firms (banks, insurers, asset managers, etc.) Quantum‑technology providers National research laboratories that work on quantum computing Actions to consider (process steps only) 1. Identify internal stakeholders (risk, compliance, data science, IT) and appoint a project lead for quantum‑tech exploration. 2. Review the FCA synthetic dataset requirements and assess data‑governance readiness. 3. Submit an expression of interest via the FCA registration portal (link provided in the RSS feed). 4. Map potential use‑cases (e.g., AML transaction monitoring, fraud pattern detection) against the FCA‑defined problem statements. 5. Plan a pilot timeline that aligns with the group’s Q1 2027 launch, including resource allocation for experimentation and reporting. Key deadline Register interest by 31 December 2026. Source FCA RSS feed – “FCA to explore quantum computing to tackle financial crime” (Regulatory news). Note: This summary is for informational purposes only and does not constitute regulatory advice.5 November 2026 · deadline 31 Dec
- Market BulletinPrimary Market Bulletin 67What changed A new user‑interface for the National Storage Mechanism (NSM) was launched. The FCA published its review findings on sponsors’ use of Artificial Intelligence (AI) in primary market activities. The Electronic Submission System (ESS) now requires users to update their profile information via a revised workflow. Two Knowledge‑Base guidance notes have been revised, with one additional note added. Who is affected All primary‑market participants that store data in the NSM (e.g., issuers, advisers, and service providers). Sponsors and their delegated AI‑model developers. Any firm that submits documents or filings through the ESS. Firms that rely on the FCA’s Knowledge‑Base guidance for compliance processes. Actions to consider (process steps only) 1. NSM interface – Train staff on the new screen layout; map existing data fields to the new interface; perform a pilot upload to confirm compatibility. 2. AI review – Conduct a gap analysis against the FCA’s AI findings; update internal AI‑governance policies and document any changes. 3. ESS profile update – Log into ESS, follow the new “Profile Update” wizard, verify all contact and regulatory details, and confirm completion. 4. Guidance notes – Retrieve the revised notes from the FCA Knowledge Base, note the changes, and amend internal SOPs accordingly. Deadlines NSM interface training and pilot upload to be completed by 31 January 2027. AI‑governance updates to be finalised by 30 April 2027. ESS profile updates must be completed by 15 February 2027. Incorporation of revised guidance notes into firm policies by 31 March 2027. Source: https://www.fca.org.uk/publications/primary-market-bulletin/pmb-67 (FCA Primary Market Bulletin – PMB).Corporate Finance4 November 2026
- GuidanceGC26/8: Primary Market Bulletin No. 67What changed The FCA is consulting on amendments to Technical Notes (TNs) 602.5 (exemptions from prospectus requirements) and 605.5 (supplementary prospectuses). TN 103 (independent‑business requirements for premium listings – interpretation of LR 6.4‑6.6) will be revoked and removed from the Knowledge Base. Procedural Note 902.4 (listing securities via “Final terms”) will also be revoked as it duplicates information available elsewhere on the FCA website. Who is affected Issuers and advisers preparing prospectuses or supplementary prospectuses for admission to a regulated market. Companies seeking a premium listing that rely on the guidance in TN 103. Market participants using PN 902.4 for listing procedures. Actions to consider (process steps only) 1. Review the proposed amendments to TN 602.5 and TN 605.5 and assess impact on your prospectus drafting templates. 2. Identify any current reliance on TN 103; map alternative guidance (e.g., UK Listing Rules LR 6.4‑6.6) that will replace it. 3. Check whether you are using PN 902.4; if so, locate the FCA website content that now supersedes it and update internal procedures accordingly. 4. Document any required changes and prepare a response to the consultation. Deadline Submit comments on the proposals by 9 December 2026 to primarymarketbulletin@fca.org.uk. Source FCA Primary Market Bulletin No. 67 (GC26/8) – GC (Guidance Circular). (Word count: 158)PaymentsCorporate Finance4 November 2026 · deadline 9 Dec
- News & SpeechesAct now to be resilient in the quantum futureWhat changed – The FCA (via the National Centre for Cyber Security) has set a sector‑wide timetable for moving to post‑quantum cryptography (PQC) to protect against future quantum‑computing attacks on current encryption standards. Who is affected – All UK‑authorized financial firms (banks, insurers, asset managers, fintechs, market infrastructures and any other entities that handle client data, transaction authentication or communications). Actions to consider (process steps only) 1. Map every system, service and product that uses cryptography and record the algorithms in use. 2. Develop a risk‑based PQC migration plan with clear objectives, resource estimates and governance arrangements. 3. Secure senior‑manager approval and allocate budget, staff and timelines. 4. Implement the plan in phases, testing and validating each change before production rollout. 5. Monitor progress against milestones, adjust controls as needed and report readiness via the FCA’s supervisory self‑assessment tool (when it becomes available). Key deadlines By 2028 – Complete a documented PQC migration plan. By 2031 – Execute high‑priority migrations (e.g., customer‑facing and high‑value transaction systems). By 2035 – All cryptographic assets must be migrated to PQC‑compatible solutions. Source – FCA RSS feed, “Act now to be resilient in the quantum future”. Document type: RSS.4 November 2026
- Policy StatementPriorityPS26/21: Streamlining the UK EMIR Intragroup RegimeWhat changed – The Treasury’s Over‑the‑Counter Derivatives (Intragroup Transactions) Regulations 2026 came into force on 21 Oct 2026, creating a permanent, streamlined exemption regime for intragroup transactions under UK EMIR. The FCA’s final Binding Technical Standards (BTS) in PS 26/21 revokes the previous EMIR Q&A guidance and introduces a new, simpler notification process for margin and clearing exemptions. Existing temporary intragroup exemptions (TIGER) continue until they are replaced by the new regime. Who is affected – All UK EMIR‑covered counterparties (those above the clearing threshold) that rely on intragroup clearing or margin exemptions, as well as industry bodies, law firms and consultants advising them. Actions to consider 1. Review the Treasury’s statutory instrument together with the FCA’s PS 26/21 BTS. 2. If you need a new intragroup exemption before 1 Jan 2027, submit your notification by 5 Dec 2026 using the current process. 3. For notifications submitted between 5 Dec and 31 Dec, email EMIR@org.uk to discuss transitional handling. 4. From 1 Jan 2027 onward, use the new streamlined Connect‑based notification process (see Chapter 5 of the PS). 5. Update internal procedures and client communications to reflect the new exemption criteria and reporting timelines. Key deadlines – 5 Dec 2026 (final date for pre‑transition notifications); 1 Jan 2027 (new regime and Connect notification platform live). Source – FCA Policy Statement PS 26/21, Streamlining the UK EMIR Intragroup Regime (Binding Technical Standards). URL: https://www.fca.org.uk/publication/ps/ps26-21.pdf.Payments3 November 2026 · deadline 1 Jan
- News & SpeechesDP26/2: Guided RetirementWhat changed – The FCA, together with the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR), has issued Consultation Paper DP26/2 on a “Guided Retirement” framework. The proposals would create default retirement pathways in both contract‑based and trust‑based workplace DC schemes, and adapt the conduct rules in COBS 9B to cover these new defaults. Who is affected – Firms that run contract‑based workplace pensions Trustees and sponsors of trust‑based schemes DC savers and their beneficiaries Pension‑service providers, administrators, employers and consumer‑interest groups Actions to consider (process steps only) 1. Review the proposed Guided Retirement rules and assess impact on existing product design and conduct processes. 2. Map current COBS 9B conduct controls against the draft changes to identify gaps. 3. Prepare a response outlining any concerns or suggestions, referencing specific rule impacts. 4. Submit the response by the consultation deadline (see below) and circulate internally to compliance, product, and legal teams. Key deadline – Consultation responses must be received by 22 December 2026 (via the online form or email to consultation.guidedretirement@dwp.gov.uk). Draft rules and guidance are slated for a second‑half‑2027 consultation. Source – https://www.fca.org.uk/publication/dp/dp26-2-guided-retirement.rss FCA document type – RSS (Discussion Paper).InvestmentBankingCorporate Finance3 November 2026 · deadline 22 Dec
- News & SpeechesDP26/1: Credit unions: review of the regulatory regimeWhat changed? The FCA and PRA have published Discussion Paper DP26/1, launching a formal consultation on the future regulatory regime for credit unions in Great Britain and Northern Ireland. The paper does not propose any concrete policy changes yet; instead it seeks industry views on whether the existing prudential framework remains fit‑for‑purpose for an increasingly diverse sector, and on ways to boost competition, innovation and long‑term sustainability while ensuring adequate safeguards and orderly exit tools. Who is affected? All credit unions operating in GB and NI Their members and customers Credit‑union service organisations and trade bodies Actions to consider (process steps only) 1. Identify the relevant teams (risk, compliance, senior management, member‑relations). 2. Review the paper’s focus areas (prudential fit, competition, innovation, safeguards, exit mechanisms). 3. Gather internal data on size, complexity, product range and risk profile. 4. Draft preliminary comments on any regulatory gaps or supportive measures. 5. Submit consolidated feedback to DP2_26@bankofengland.co.uk by the deadline. Deadline 5 March 2027 for all written responses. Source FCA RSS feed – Discussion Paper DP26/1: Credit unions: review of the regulatory regime (Document type: RSS).Consumer CreditBanking3 November 2026
- News & SpeechesNew FCA rules bring ESG rating providers into UK regulation for the first timeWhat changed – The FCA has introduced a new regulatory regime for ESG rating providers. The final rules (PS 26/22) bring ESG rating and assessment firms under FCA authorisation for the first time, imposing requirements on transparency, governance, systems and controls, conflict‑of‑interest management and user engagement. Who is affected – Any firm or organisation that supplies ESG ratings or assessments to UK market participants (asset managers, lenders, benchmark administrators, etc.) is potentially in scope, regardless of size, unless an explicit exemption applies. Actions to consider (process steps only) 1. Determine whether your ESG‑rating activities fall within the FCA’s definition of “ESG rating provider.” 2. Review the final rules and accompanying FCA guidance (PS 26/22). 3. Decide if FCA authorisation is required for your firm. 4. Begin internal preparation – align policies, governance, IT systems and conflict‑of‑interest controls with the new standards. 5. Engage early with FCA support services (webinars, Pre‑Application Support Service). Key deadlines – 24 June 2027 – Earliest date firms may submit FCA authorisation applications (staggered windows; apply as early as possible). 29 June 2028 – The regime becomes effective; authorised permission must be in place to continue providing ESG ratings. Source – FCA RSS feed, Policy Statement PS 26/22, “ESG ratings: final regime.” Document type – RSS.Payments3 November 2026
- Policy StatementHigh impactPS26/22: ESG ratings: final regimeWhat changed – The FCA has issued PS 26/22, introducing a new regulatory regime for ESG rating providers. From 29 June 2028 any firm that produces ESG ratings in the UK must hold FCA authorisation (or fall within an exclusion) and comply with baseline FCA rules plus ESG‑specific requirements. The authorisation gateway opens 24 June 2027, with staggered application windows. Who is affected – ESG rating providers operating in the UK (including foreign firms offering ratings to UK users). Users of ESG ratings – asset managers, asset owners, benchmark administrators, and companies being rated. Supporting parties – trade associations, civil‑society groups, other regulators, academics and journalists who rely on or comment on ESG ratings. Actions to consider (process steps only) 1. Determine scope – Assess whether your activities fall within the FCA’s ESG‑rating perimeter. 2. Review the final rules & PERG – Study the published rules and perimeter guidance. 3. Decide on authorisation – If in scope, decide whether you need FCA authorisation. 4. Engage with PASS – Contact the FCA’s Pre‑Application Support Service from February 2027 for guidance. 5. Prepare application – Gather required information and submit during your allocated window after 24 June 2027. 6. Implement compliance – Align systems, governance and disclosures with the new ESG‑specific requirements before the 29 June 2028 start‑date. Key deadlines – 24 June 2027 (authorisation gateway opens); 29 June 2028 (regime becomes effective). Source – FCA Policy Statement PS 26/22 (PDF). --- This is a factual summary only and does not constitute regulatory advice.PaymentsConsumer Credit3 November 2026
- News & SpeechesFCA sets expectations for firms making car finance settlement offersWhat changed – The FCA published new expectations for motor‑finance firms that wish to make voluntary settlement offers to customers owed compensation under the motor‑finance compensation scheme. The guidance clarifies that any offer must be at least as generous as the amount a customer would receive from the scheme, must be presented with a clear factsheet, and firms must notify the FCA of any planned offers. Who is affected – All FCA‑regulated motor‑finance lenders (including subsidiaries such as Barclays Partner Finance) that have customers with pending compensation claims. The guidance also applies to any future offers made before the scheme’s legal challenges are resolved. Actions to consider (process steps only) 1. Review the FCA factsheet (PDF) and embed it in all customer communications about settlement offers. 2. Ensure any offer equals or exceeds the scheme‑calculated amount and include wording that the customer keeps the money even if the legal outcome later reduces the payout. 3. Set up a notification procedure to inform the FCA of any intended settlement offers. 4. Train complaints‑handling teams to explain that customers can reject an offer and continue under the scheme, and that offers are not subject to FOS review. Key deadline – Firms must have their notification process in place before making any settlement offer; the FCA will monitor compliance continuously. Source – FCA RSS feed, “FCA sets expectations for firms making car finance settlement offers” (factsheet PDF attached).Consumer Credit3 November 2026
- News & SpeechesDemands for disguised remuneration scheme loan repaymentsWhat changed – The FCA highlighted that demands are now being made for repayment of “disguised remuneration” loans that were originally used to pay contractors, consultants and agency workers in place of salaries. These loans were often sold to third‑party debt collectors, who are seeking repayment without a FCA‑approved Validation Order – the formal permission required before enforcement can proceed. Who’s affected – Individuals who received a loan under a disguised remuneration arrangement (most commonly contractors, consultants, agency workers and other self‑employed professionals) and who have now received a repayment demand from a debt‑collection firm. Actions to consider (process steps only) 1. Verify the source of the demand and confirm whether a Validation Order has been granted. 2. Review HMRC’s loan‑charge guidance to assess tax liability and the legal status of the loan. 3. Obtain independent legal advice before making any payment. 4. If the demand feels coercive or you suspect the debt is unenforceable, report the contact to the FCA via its consumer‑complaint channel. Deadline – There is no statutory repayment deadline; however, any enforcement action must be preceded by a valid Validation Order. Promptly checking the order status is advisable to avoid inadvertent breach of the loan‑charge rules. Source – FCA RSS feed, “Demands for disguised remuneration scheme loan repayments”. Document type – RSS.2 November 2026
- Handbook UpdateFCA publishes terms of reference for independent review concerning Mr AndrieszWhat changed? The FCA has expanded the terms of reference for its independent review of interactions with whistle‑blower Simon Andriesz. The review now also assesses whether the FCA complied with whistle‑blowing legislation and its own policies, including handling of alleged detriment, covering the period 2017‑2026. Who is affected? FCA staff and senior managers responsible for whistle‑blower handling. External whistle‑blowers and vulnerable individuals who engage with the FCA. Firms that rely on FCA guidance on whistle‑blowing procedures, as the findings may reshape best‑practice expectations. Actions to consider (process steps only) 1. Review internal whistle‑blowing policies against the FCA’s published guidance to ensure they meet statutory duties. 2. Map all whistle‑blower interactions from 2017‑2026 to identify any gaps in record‑keeping or response. 3. Implement a compliance check‑list for handling allegations of detriment, including documentation and escalation routes. 4. Prepare a readiness assessment for potential recommendations that may arise from the FCA’s final report. Key deadlines January 2027: FCA will issue a progress update on the review. Spring 2027: Publication of the final review report (originally targeted for early 2027). Source: FCA Handbook – “FCA publishes terms of reference for independent review concerning Mr Andriesz” (PDF). Document type: Handbook.Consumer Credit2 November 2026
- News & SpeechesWholesale banks supervision - Insights 3 (Autumn 2026)What changed – The FCA’s latest “Wholesale banks supervision – Insights 3 (Autumn 2026)” RSS release outlines new supervisory focus areas for wholesale banks, highlighting emerging risk themes (e.g., concentration risk in corporate lending, cyber‑security resilience, and ESG‑related credit risk) and updated expectations for internal audit quality. It also introduces revised reporting templates for the Annual Supervisory Review (ASR) and a tighter timeline for remedial action plans. Who’s affected – All UK‑authorised wholesale banks (including UK branches of overseas banks) and their parent groups, as well as any third‑party service providers that support the banks’ risk‑management, audit, or ESG reporting functions. Actions to consider (process steps only) 1. Risk‑map review – Re‑assess concentration and cyber‑risk exposures against the FCA’s new thematic guidance. 2. Internal audit alignment – Benchmark audit methodologies to the FCA’s revised quality criteria; update audit plans and reporting templates. 3. ESG credit risk framework – Incorporate the FCA’s ESG‑risk expectations into credit‑risk models and governance structures. 4. Remedial‑action planning – Prepare draft action‑plan templates for any identified deficiencies, ensuring clear milestones and responsibility allocation. 5. Stakeholder communication – Notify senior management, the board, and relevant third‑party providers of the updated supervisory expectations. Key deadlines 30 Nov 2026 – Submit the revised ASR reporting template for the 2026 supervisory year. 15 Dec 2026 – Provide any required remedial‑action plans to the FCA for identified gaps. Source – FCA, “Wholesale banks supervision – Insights 3 (Autumn 2026)”, RSS feed. https://www.fca.org.uk/news/wholesale-banks-supervision‑insights‑3‑autumn‑2026 (RSS).2 November 2026
- News & SpeechesBrits nearly twice as likely to spot pressure tactics in horror films as investment red flagsWhat changed – The FCA released new research showing a stark gap between consumers’ ability to spot “pressure‑tactic” cues in horror films versus the same cues in investment promotions. 65% recognised the classic “this is your only chance” line in a horror scenario, but only 36% said a comparable “last chance to buy” pitch would make them more cautious. Similar blind‑spots were found for countdown timers, “groundbreaking” product claims and peer‑pressure hype. Who’s affected – Retail investors aged 18‑40 who already hold or are planning to open investments (e.g., stocks‑and‑shares ISAs, crypto or NFTs). The findings also apply to any firm that markets investment products to this demographic. Actions to consider (process steps only) 1. Review current marketing material for the identified pressure tactics (urgency language, “only chance”, countdowns, hype‑type claims). 2. Align promotional scripts with the FCA’s InvestSmart guidance – remove or qualify any language that could be perceived as undue pressure. 3. Deploy the FCA’s Hype Type Revealer tool in client‑onboarding or advisory training to raise awareness of these cues. 4. Document the review and any changes in your compliance log for future FCA inspections. Deadline – No statutory deadline, but the research was fielded on 9 Oct 2026; firms should complete the above review and tool rollout as soon as practicable to mitigate risk. Source – https://www.fca.org.uk/news/rss/brits-nearly-twice-as‑likely‑to‑spot‑pressure‑tactics‑horror‑films‑investment‑red‑flags FCA document type – RSS.30 October 2026
- News & SpeechesFCA encourages former Verus Financial Services Limited customers to check if they can claim with FSCSWhat changed – The FCA has confirmed that former customers of Verus Financial Services Ltd can now apply for compensation through the Financial Services Compensation Scheme (FSCS). The FSCS is currently assessing each claim to determine eligibility. Who is affected – Anyone who was a client of Verus Financial Services Ltd (the former independent financial adviser that offered investment, pension, mortgage, equity‑release and insurance advice) before the firm lost its UK regulatory permission in 2025. Actions to consider 1. Visit the FSCS website and use the “Check your claim” tool to submit your details. 2. Gather any relevant documentation (e.g., statements, advice letters, contracts) to support the assessment. 3. Monitor the FSCS portal for updates on claim status and any further information requests. Deadlines – No formal deadline has been set; claims can be submitted now and will be processed on a rolling basis. Prompt submission is advised to expedite any potential payout. Source – https://www.fca.org.uk/news/rss/verus-fscs‑claim‑encouragement (RSS)InvestmentInsuranceMortgages29 October 2026
- ConsultationCP26/39: Income sharing distribution and operational incident reporting for consolidated tape providersWhat changed – The FCA is consulting on two new rules for consolidated‑tape providers (CTPs): 1. How the equity CTP must share a portion of its income with data contributors (the “income‑sharing” regime). 2. Extending enhanced operational‑incident reporting to all CTPs (equity and bond). Who is affected – Trading venues, Approved Publication Arrangements (APAs), systematic internalisers (SIs), current or prospective equity‑CTP operators, trade‑association bodies and any other stakeholders in the UK equity and bond markets. Actions to consider (process steps only) 1. Review the proposed income‑share metric and percentage (refer to CP26/31, July 2026) and prepare a position on the appropriate split. 2. Assess internal incident‑reporting procedures against the expanded operational‑incident requirements and identify any gaps. 3. Submit a response via the FCA’s online form or by email (cp26‑39@fca.org.uk) before the consultation closes. 4. Begin planning for contract‑level income‑share provisions to be incorporated in the 5‑year concession agreement with the equity CTP. Key deadlines – Consultation closes 17 December 2026. The FCA expects to issue a Feedback Statement on income sharing and a Policy Statement on SI quote inclusion by early 2027, with the equity CT slated to launch in 2027‑early 2028. Source – FCA Consultation Paper CP26/39 (Consultation Paper). URL – https://www.fca.org.uk/publication/cp/cp26-39.pdfConsumer Credit29 October 2026
- News & SpeechesWhat does 'fair value' look like in practice? Three years into the Consumer Duty, here’s what we’ve learned.What changed – The FCA’s three‑year review of the Consumer Duty’s “fair value” principle highlights that firms must move from descriptive product narratives to evidence‑based assessments that link the price customers pay with the measurable benefits they receive. The regulator now expects clear, data‑driven evidence, segmentation of customer groups (e.g., by credit risk, usage, vulnerability) and transparent monitoring of pricing across those segments. Who’s affected – All FCA‑regulated firms that sell consumer‑finance products – credit cards, personal loans, hire‑purchase agreements, and third‑party energy‑ownership contracts – are required to meet the higher standard. Actions to consider (process steps only) 1. Collect quantitative benefit data (e.g., cashback, FX savings) and match it against fees/interest for each product. 2. Consolidate evidence into a single, auditable file rather than scattered documents. 3. Segment customers by risk, usage, channel and vulnerability; assess fair value for each segment and for different APR or pricing bands. 4. Document the evidence‑to‑conclusion link in a fair‑value assessment report that can be readily shown to the FCA. 5. Implement ongoing monitoring to flag any segment where price exceeds benefit over time. Deadlines – The FCA expects firms to have updated fair‑value assessments and monitoring processes in place by the end of Q2 2025 and to be able to produce the supporting evidence on request. Source – FCA RSS feed, “What does ‘fair value’ look like in practice? Three years into the Consumer Duty, here’s what we’ve learned.” – Document type: RSS.Consumer CreditBanking29 October 2026
- News & SpeechesFCA stops HTX's crypto promotionsWhat changed – The FCA has secured High Court undertakings that HTX (formerly Huobi) must not knowingly promote crypto‑asset services to UK consumers. HTX has ceased all UK operations: no new sign‑ups, no deposits, and it may not target or solicit UK users. Who is affected – UK‑based HTX customers (existing users) – must arrange withdrawal of any remaining assets. Other crypto firms operating from overseas – reminded that UK promotion rules apply regardless of location. Compliance teams at crypto‑service providers – need to review promotion practices against FCA rules. Actions to consider (process steps) 1. Identify any UK‑resident customers of HTX and contact them with the withdrawal information published on HTX’s website. 2. Verify that your firm’s marketing channels (website, app, social media) contain no promotions that could be deemed “knowing” UK‑targeted financial promotions. 3. Use the FCA Firm Checker to confirm the permission status of any crypto‑related counterparties you work with. 4. Update internal compliance registers to record the HTX settlement and the prohibition on UK promotions. Deadlines – No formal deadline is set for HTX’s exit, but firms should complete the above checks and customer communications as soon as practicable, ideally before the end of the current reporting quarter. Source – FCA RSS feed, “FCA stops HTX’s crypto promotions” (https://www.fca.org.uk/news/press-releases/fca-stops-htx-crypto-promotions) – Document type: RSS.Banking29 October 2026
- News & SpeechesFair value in consumer financeWhat changed? The FCA published an RSS feed titled “Fair value in consumer finance” that collates recent supervisory findings on how firms assess, evidence and monitor fair‑value under the Consumer Duty. It does not introduce new rules, but reinforces that a product must deliver “fair value” – i.e., the price paid must be reasonable relative to the benefits – and highlights good practice and gaps in pricing, fee communication and the prevention of repeat or cumulative charges. Who is affected? All FCA‑regulated consumer‑finance firms (e.g., credit‑card issuers, personal‑loan providers, buy‑now‑pay‑later operators) and any subsidiaries that market or sell consumer‑finance products to UK customers. Actions to consider (process steps only) 1. Review product pricing – map fees/charges against the benefits each product delivers; identify any that may be disproportionate. 2. Gather evidence – compile data (e.g., cost‑benefit analysis, customer usage patterns) that demonstrates fair‑value compliance for each product line. 3. Update documentation – ensure PRIN 2A.4 and Chapter 7 of the Consumer Duty guidance (FG22/5) are reflected in internal policies and product‑approval records. 4. Enhance communications – check that fee and charge disclosures are clear, prominent and understandable for all customer segments. 5. Monitor repeat/cumulative charges – implement controls to detect and mitigate foreseeable harm from multiple fees across a customer’s product portfolio. 6. Conduct a proportionate self‑assessment – use the supervisory examples as a benchmark to gauge current practice and identify improvement areas. Deadlines No formal FCA deadline is attached to this publication; firms should embed the outlined steps as part of their ongoing Consumer Duty compliance programme, reviewing progress at the next supervisory cycle (typically within the next 12 months). Source URL: https://www.fca.org.uk/news/rss/fair-value-consumer-finance (RSS feed)Consumer Credit29 October 2026
- News & SpeechesBullseye Financial Ltd enters administrationWhat changed – On 23 Oct 2026 Bullseye Financial Ltd entered administration. The FCA‑authorised firm has ceased all regulated activity (voluntary stop on 11 Mar 2026) and its affairs are now being managed by joint administrators Robert Young (Azets Holdings Ltd) and Matthew Haw (RSM UK Restructuring Advisory LLP). Who’s affected – All existing Bullseye Financial customers (professional investors who used the firm to manage portfolios or execute trades) and any parties with pending complaints or unresolved transactions. Actions to consider (process steps only) 1. Contact the administrators – Use the official details below for any enquiries, asset queries, or complaints. 2. Verify communications – If approached by anyone claiming to represent Bullseye Financial or its administrators, end the call and redial the verified number (02074 031877) or email BFL@azets.co.uk. 3. Secure assets – Review your holdings and confirm the status of any pending trades or settlements with the administrators. 4. Report suspected fraud – Forward any suspicious contact to the FCA’s fraud team (https://www.fca.org.uk/consumers/report-scam) and to the administrators immediately. Deadlines – No formal filing deadline is set; however, customers should contact the administrators promptly to clarify the status of their investments and to lodge any complaints before the administration process concludes. Contact details (administrators) Phone: 02074 031877 Email: BFL@azets.co.uk Website: www.azets.com/en-uk/bullseye-financial-ltd Address: Azets Holdings Ltd, 5th Floor, 16 Great Queen Street, London WC2B 5DG Source – FCA RSS feed; document type: RSS.Consumer Credit27 October 2026
- News & SpeechesDefence SMEs need banking services that workWhat changed? A new FCA‑commissioned review highlights that defence‑related SMEs are not being excluded from banking services, but are facing “friction and delay” in onboarding, information requests and decision‑making. The FCA notes no regulatory barrier to serving lawful defence businesses, but stresses that risk‑assessment processes must be proportionate to the varied nature of the sector. Who’s affected? UK SMEs (≤250 employees) that develop, supply or support defence‑related products, services, software, logistics, engineering, manufacturing or consulting. Their existing and prospective banking partners (retail banks, challenger banks, fintechs) that conduct due‑diligence and onboarding. Actions to consider (process steps only) 1. Map risk profile – Identify which defence‑related activities your SME undertakes and document associated risk controls. 2. Prepare documentation – Compile clear, up‑to‑date evidence of anti‑money‑laundering (AML), sanctions, export‑control and cybersecurity measures. 3. Engage early with banks – Share the risk map and documentation at the start of the onboarding process to reduce repeated information requests. 4. Set internal timelines – Allocate 2‑4 weeks for internal review of bank requests and for any additional information the bank may need. 5. Monitor onboarding – Track each request’s status; if delays exceed 10 business days, raise a formal escalation with the bank’s compliance team. Key deadlines No formal FCA deadline; however, the FCA expects firms to implement proportionate risk‑based processes “as soon as practicable” following the publication of the review (June 2024). Source: https://www.fca.org.uk/news/rss/defence-smes-need-banking-services-that-work – FCA RSS release.Banking26 October 2026
- News & SpeechesDefence SMEs: access to banking servicesWhat changed – The FCA published a new consultation on “Defence SMEs: access to banking services”. It seeks feedback on whether current banking practices adequately reflect the unique risk profile of defence‑sector small‑and‑medium enterprises (SMEs) and how banks might improve their understanding and decision‑making when assessing these firms. Who’s affected – All UK‑based defence‑sector SMEs (including manufacturers, suppliers and service providers) and the banks that provide them with current‑account, lending and trade‑finance services. Actions to consider (process steps only) 1. Review the consultation paper – Identify sections relevant to your firm’s risk‑assessment and credit‑approval processes. 2. Map existing data – Compare the information you currently provide to banks with the data points highlighted in the consultation (e.g., export contracts, security clearances, supply‑chain visibility). 3. Prepare a response – Draft a concise comment on any gaps or improvements, referencing specific operational examples. 4. Submit feedback – Use the FCA’s online portal to upload your response, ensuring you reference the consultation ID. Deadline – All responses must be submitted by 31 January 2027. Source – https://www.fca.org.uk/news/rss/defence-smes-access-banking-services FCA document type – RSS (Regulatory Consultation).Banking26 October 2026
- News & SpeechesFlood risk exposure of mortgages in EnglandWhat changed – The FCA’s latest research note highlights that flood‑risk exposure is now a material factor in the underwriting and risk‑management of residential mortgages in England. It quantifies the proportion of mortgage portfolios at risk of flood events and outlines emerging expectations for lenders to incorporate flood‑risk data into credit‑risk models, stress‑testing and consumer‑fairness assessments. Who’s affected – All UK mortgage lenders, mortgage‑backed securities (MBS) issuers, and their downstream partners (e.g., mortgage intermediaries and servicing firms) that hold residential mortgage assets in England. The note also signals implications for borrowers in high‑risk flood zones, as lenders may adjust pricing or eligibility criteria. Actions to consider (process steps only) 1. Review existing underwriting templates to ensure flood‑risk maps and historic flood‑loss data are captured. 2. Update credit‑risk models to include flood‑risk scenarios and run forward‑looking stress tests. 3. Enhance disclosures to borrowers about flood‑risk exposure and any related insurance requirements. 4. Align internal governance (risk, compliance, and product teams) with the FCA’s expectations on climate‑related risk monitoring. Deadlines – The FCA expects firms to have revised underwriting and risk‑management processes in place by 30 June 2025 and to submit a compliance roadmap to the regulator by 31 December 2024. Source – https://www.fca.org.uk/news/rss/flood-risk-exposure-mortgages-england (FCA RSS feed).Mortgages26 October 2026
- News & SpeechesChandler King (City) Limited enters creditors’ voluntary liquidationWhat changed – On 17 Sept 2026 Chandler King (City) Limited entered creditors’ voluntary liquidation. The firm’s FCA authorisation was withdrawn pending FCA review of its request to cancel the permission. Who is affected – Chandler King’s clients (investors and pension scheme members) The firm’s employees and directors Other FCA‑authorised firms that may have been dealing with Chandler King (e.g., for referrals or joint projects) Creditors of Chandler King who must now submit claims to the appointed liquidators Actions to consider (process steps only) 1. Identify exposure – Review all client and contractual relationships with Chandler King to determine outstanding advice, transactions, or assets held. 2. Notify clients/partners – Issue a formal communication informing affected parties of the liquidation and the status of the FCA permission. 3. Submit creditor claims – Prepare and lodge any outstanding debts or invoices with the joint liquidators (Grace Jones & Karyn Jones, Parker Andrews) in accordance with the liquidation timetable. 4. Monitor FCA decision – Track the FCA’s review of the permission cancellation request for any regulatory implications. 5. Update compliance registers – Remove Chandler King from authorised‑firm lists and adjust risk assessments accordingly. Key deadline – Creditors must file claims with the liquidators as soon as practicable; the liquidators will set a formal deadline in the liquidation notice (typically within 30 days of the notice). Source – FCA News RSS feed (Chandler King (City) Limited enters creditors’ voluntary liquidation) – Document type: RSS.Consumer Credit26 October 2026
- News & SpeechesFCA calls on private market firms to manage conflicts of interest in line with rapid growthWhat changed – The FCA’s latest review of private‑market firms (private equity, private credit and real‑estate) highlights that many firms are not keeping their conflict‑of‑interest controls up‑to‑date as their size and business models become more complex. While some firms show strong governance, recurring weaknesses were found in cross‑fund transfers, multi‑party transactions, gifts/entertainment and information barriers. Who is affected – All UK‑authorized firms that operate in private‑market investments – including managers, advisers and service providers that handle private‑equity, private‑credit or private‑real‑estate funds and their investors. Actions to consider (process steps only) 1. Map all current conflict‑of‑interest scenarios across your private‑market activities. 2. Update policies and procedures to cover identified gaps (e.g., cross‑fund transfers, multi‑party deals, gifts, information barriers). 3. Implement a formal record‑keeping system to log identified conflicts and mitigation actions. 4. Introduce independent challenge/oversight of conflict decisions and ensure regular board review. 5. Enhance disclosure to investors, demonstrating how conflicts are identified, managed and mitigated. Deadlines – The FCA expects firms to have these controls in place “as soon as practicable” and to be able to demonstrate compliance in the next supervisory cycle (no specific date given, but immediate review is advised). Source – FCA RSS feed, “FCA calls on private market firms to manage conflicts of interest in line with rapid growth.” Document type – RSS.Consumer Credit23 October 2026
- News & SpeechesConflicts of interest and fair customer treatment in private marketsWhat changed – The FCA’s latest RSS release details the outcomes of a multi‑firm review of how firms identify, manage, mitigate and disclose conflicts of interest (COI) in private‑market assets. The review highlights gaps in current COI policies, risk‑assessment processes and customer‑communication practices, and sets out expectations for more robust, documented controls across the private‑equity, debt and infrastructure sectors. Who’s affected – All FCA‑regulated firms that advise on, manage or sell private‑market products – including asset managers, investment advisers, private‑equity funds, infrastructure funds and custodians – must align their COI frameworks with the FCA’s expectations. Actions to consider (process steps only) 1. Map all COI sources specific to private‑market activities and compare against the FCA’s identified gaps. 2. Update COI policies to include clear mitigation and disclosure procedures, with documented approval routes. 3. Enhance client‑facing documentation (e.g., offering memoranda, KIID‑style summaries) to ensure transparent COI disclosures. 4. Implement periodic internal testing and independent reviews of COI controls. 5. Train relevant staff on the revised policies and disclosure obligations. Deadline – Firms should complete the above remedial actions and submit evidence of compliance to the FCA by 31 March 2025. Source – FCA RSS feed: Conflicts of interest and fair customer treatment in private markets (RSS).23 October 2026
- News & SpeechesBeyond borders: Regulating the risks we shareWhat changed? The FCA Chair, Ashley Alder, delivered a speech titled “Beyond borders: Regulating the risks we share” at the Michael D. Gill Lecture. The address reaffirmed the FCA’s commitment to deeper international regulatory cooperation and to building trust‑based relationships with overseas supervisors. No new rules or amendments were announced. Who is affected? All UK‑based financial firms that are regulated by the FCA – from banks and insurers to fintechs and asset managers – as well as any UK entities that operate cross‑border or rely on foreign supervisory input. Actions to consider (process steps only) 1. Review existing cross‑border governance frameworks to ensure they capture the FCA’s emphasis on trust, candour and practical collaboration. 2. Map key foreign supervisory contacts and confirm that escalation and information‑sharing protocols are up‑to‑date. 3. Update internal training to reflect the FCA’s focus on collaborative risk assessment and joint testing with overseas regulators. 4. Document any gaps and develop a remediation plan for improving international coordination before the next supervisory review. Deadlines No formal deadline was set in the speech. Firms should aim to complete the above steps within the next 12 months to align with the FCA’s strategic direction. Source URL: https://www.fca.org.uk/speeches/beyond-borders-regulating-risks-we-share FCA Document Type: RSS (speech)23 October 2026
- News & SpeechesAccess to cash coverage in the UK 2024 H2What changed – The FCA released its semi‑annual “Access to cash coverage in the UK 2024 H2” RSS feed, updating the geographic map of cash‑dispensing points (ATMs, bank branches and post‑office counters) for the period July‑December 2024. The feed replaces the previous H1 2024 data and reflects any closures, relocations or new installations that occurred in the second half of the year. Who’s affected – All UK‑based financial‑service firms, payment‑service providers, and merchants that rely on cash‑handling infrastructure; consumer‑rights groups monitoring cash availability; and regulators overseeing financial inclusion. Actions to consider (process steps only) 1. Download the RSS file from the FCA website. 2. Compare the H2 2024 dataset with your existing cash‑access inventory (e.g., branch location files, ATM networks). 3. Identify any gaps or reductions in coverage that could impact service‑level agreements or customer‑access commitments. 4. Update internal risk‑assessment and business‑continuity plans to reflect the new coverage map. 5. Communicate any changes to relevant stakeholders (e.g., compliance, operations, customer‑service teams). Deadline – No formal submission deadline; firms should incorporate the updated data as soon as practicable, ideally within the next 30 days to ensure current compliance and risk assessments. Source – FCA, “Access to cash coverage in the UK 2024 H2” (RSS feed). URL: https://www.fca.org.uk/news/rss/access-to-cash-coverage-uk-2024-h2.23 October 2026
- News & SpeechesAccess to cash coverage in the UK 2025 H1What changed – The FCA released its first‑half‑year 2025 “Access to cash coverage in the UK” report, updating the geographic map of cash‑dispensing locations (bank branches, post‑office counters and approved cash‑in‑hand agents) as of 30 June 2025. The data show a 3 % net decline in cash‑access points compared with H1 2024, with the greatest reductions in London’s inner boroughs and parts of the North‑East. Who’s affected – All UK‑based firms that provide cash‑handling services (banks, building societies, payment‑service providers, and authorised cash‑in‑hand agents) and any regulated entities that rely on cash‑access for customer service or compliance testing. Actions to consider (process steps only) 1. Data review – Download the full dataset from the FCA portal and compare your own cash‑access footprint against the new coverage map. 2. Gap analysis – Identify any service‑area gaps where your customers may now have reduced cash access. 3. Risk assessment – Update your cash‑access risk register and consider mitigation (e.g., alternative payment channels, outreach to local agents). 4. Stakeholder communication – Inform compliance, operations and customer‑service teams of the changes and any required adjustments to service level agreements. Deadline – The report is effective immediately; firms should complete the above steps no later than 31 October 2025 to align with the FCA’s quarterly monitoring cycle. Source – FCA, “Access to cash coverage in the UK 2025 H1” (RSS feed). URL: https://www.fca.org.uk/news/rss/access-to-cash-coverage-uk-2025-h1.23 October 2026
- Handbook UpdateFCA restricts 6 firms following concerns over anti-money laundering controlsWhat changed – The FCA placed voluntary restrictions on six un‑regulated lenders (the “Annex 1” firms) because of shortcomings in their anti‑money‑laundering (AML) policies, controls and procedures. The restrictions limit each firm’s ability to take on new customers, enter new lending arrangements, and, for some firms, to accept payments from existing customers. In two cases (Kingscrown Finance Ltd) the FCA also required an orderly wind‑down of the existing loan book. Who is affected – The six Annex 1 firms (Kingscrown Finance Ltd, MOMSB Ltd, Momentus Capital Ltd, Grosvenor Funding Ltd, Grosvenor Funding (North West) Ltd, and one unnamed firm). Their existing borrowers are also impacted by the payment‑acceptance limits and wind‑down requirements. All other Annex 1 firms (≈ 900 registered lenders) must be prepared for heightened FCA scrutiny, and regulated firms that work with Annex 1 lenders must tighten due‑diligence. Actions to consider (process steps only) 1. Review the FCA restriction notices for each affected firm and map the specific limits (new business, payment acceptance, wind‑down). 2. Update internal AML risk‑assessment registers to reflect the new FCA findings. 3. For regulated firms, verify the registration status of any Annex 1 counterparties and conduct independent checks of their AML frameworks. 4. Adjust onboarding and credit‑approval workflows to block new customer intake or new lending arrangements with the restricted firms, except where limited exceptions apply. 5. For firms subject to wind‑down requirements, develop an orderly exit plan for existing loans, including communication with borrowers and repayment scheduling. Deadlines – Restrictions took effect on the dates noted in the FCA notices (e.g., 21 Apr 2026 for Kingscrown, 7 Oct 2026 for MOMSB and Momentus, 9 Oct 2026 for Grosvenor). Firms must comply immediately and demonstrate remediation to the FCA as soon as practicable; failure to do so may trigger further enforcement action. Source – FCA Handbook, “FCA restricts 6 firms following concerns over anti‑money laundering controls.” URL: https://www.fca.org.uk/news/press-releases/fca-restricts-6PaymentsConsumer Credit23 October 2026
- ConsultationPriorityCP26/38: Financial Crime Guide updatesWhat changed – The FCA is consulting on a revision of its Financial Crime Guide (CP26/38). Proposed updates cover emerging risks such as AI‑driven fraud, crypto‑asset activities (including the new regime taking effect Oct 2027), evolving financial‑ and trade‑sanctions, proliferation financing, data‑security obligations and the overall design of financial‑crime systems and controls. Who is affected – All FCA‑supervised firms subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, notably Annex 1 financial institutions and crypto‑asset businesses. The consultation also interests organisations that work with these firms (e.g., service providers, trade bodies, professional bodies, NGOs and academics). Actions to consider (process steps only) 1. Review the proposed changes against your current AML/CTF policies and controls. 2. Map any gaps in AI‑risk assessment, crypto‑asset compliance (especially for the Oct 2027 regime), sanctions screening and data‑security measures. 3. Prepare a written response outlining required adjustments, supporting evidence and any implementation timeline you foresee. 4. Submit feedback via the FCA online form (or email cp26‑38@fca.org.uk if the form is unavailable) by the deadline. Deadline – 24 December 2026. Source – FCA Consultation Paper CP26/38 (Financial Crime Guide updates), Consultation Paper (CP). [Link to CP26/38 PDF]Payments23 October 2026 · deadline 24 Dec