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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 441–480 of 561.
- DecisionTribunal upholds bans and fines for reckless adviser and fund managerThe Upper Tribunal has upheld the FCA's decisions to ban Stephen Joseph Burdett and James Paul Goodchild from working in financial services. Mr Burdett and Mr Goodchild previously held senior roles at Synergy Wealth Limited (Synergy) and Westbury Private Clients LLP (Westbury), respectively.The FCA banned the pair from working in regulated financial services for recklessly exposing pension holders to unsuitable investments.The Tribunal also found that it was appropriate for the FCA to impose penalties of £265,071 on Mr Burdett and £47,600 on Mr Goodchild.Because of Mr Burdett, 232 personal pension funds worth over £10 million were switched into high-risk investment portfolios that were obviously unsuitable. The portfolios were created and managed by Mr Goodchild at Westbury, with around 38% of overall holdings linked to a single offshore property developer.Despite his knowledge that the portfolios were high-risk, Mr Burdett allowed Synergy’s customers to receive reports indicating that their money would be...Consumer CreditBanking18 February 2026
- ConsultationHigh impactCP26/6: Rules for reforming the UK Securitisation FrameworkWe are consulting on changes to UK securitisation rules, including proposals to simplify the due diligence and transparency requirements. ... Read CP26/6 (PDF)We have closely coordinated with the PRA to ensure a coherent and consistent framework across our rulebooks. See the PRA’s consultation paper with proposals that would affect firms authorised by the PRA.Why we are consultingOur approach in reforming the securitisation rules aims to simplify and streamline our rules and regulatory approach to eliminate unnecessary costs. At the same time, we aim to maintain high standards that support market integrity, innovation and competition as well as the competitiveness of the UK financial services industry. We have done so by:Making the securitisation rules more proportionate.Reducing barriers to issuing and investing in securitisations.Maintaining appropriate protections for investors.Providing a clearer framework for market participants.Our proposals aim to ensure the market can operate with greater confidence and efficiency, reducing legal and operational uncertainty....Banking17 February 2026 · deadline 18 May
- DecisionFCA fines former chief executive of Carillion plc (in liquidation)The FCA has fined Richard Howson £237,700 for his part in misleading statements being issued by Carillion plc. As group chief executive, Mr Howson was aware of serious financial troubles in Carillion’s UK construction business. He failed to reflect this in company announcements or alert its board and audit committee, leading to poor oversight.The fine was imposed after Mr Howson withdrew his challenge to the FCA’s decision.Mr Howson was one of two executive directors on Carillion’s Board. His responsibilities included working closely with the group finance director (the other executive director on the board) to ensure Carillion communicated effectively with investors and had appropriate internal control processes. Primary responsibility for ensuring the financial information disseminated to the market was accurate and not misleading lay with the group finance director. However, Mr Howson played an important role as the Board member with the most expertise on construction and contracting matters.The FCA...PaymentsConsumer CreditInvestment16 February 2026
- Data ReleaseWhistleblowing quarterly data 2025 Q4Our data shows the number of new whistleblowing reports we received between October and December 2025, and existing reports closed during this period. ... The data shows: how we received the reportwhat the report was aboutwhat level of action we have takenWe assess every whistleblowing report we receive that falls within our remit, to inform our work and help us identify actual or potential harm. This could be harm to consumers, to markets, to the UK economy or to wider society.What we can shareWe know that greater transparency about the whistleblowing reports we receive is important and we are constantly trying to improve the information we make public.However, our reviews will usually involve confidential information restricted by the Financial Services and Markets Act 2000 (FSMA), including that relating to our supervision and enforcement work. This restriction may limit the information we can share with whistleblowers.Find out what we can shareWhistleblowing...Payments16 February 2026
- News & SpeechesFCA exchanges letters on cooperation with India regulator, IFSCAWe have signed an Exchange of Letters with the International Financial Services Centres Authority (IFSCA). IFSCA is the unified regulator for financial institutions operating in Gujarat International Finance Tec-City (GIFT City), India’s first international financial services centre.This agreement affirms both authorities’ commitment to develop our regulatory relationship.Download our letter (PDF)The letters set out the intention to share regulatory knowledge and best practice to support the development of financial services in both jurisdictions and to promote greater links between GIFT City and UK financial markets.In addition to the Exchange of Letters, to help develop our relationship with India’s financial regulators we will be posting an FCA Financial Services Attaché to the British Deputy High Commission in Mumbai later in 2026.11 February 2026
- News & SpeechesNew protections confirmed for Buy Now Pay Later borrowersBuy Now Pay Later (BNPL) borrowers will benefit from stronger protections from 15 July 2026, following the Government's decision to bring the sector under the FCA's regulation. BNPL will be subject to the Consumer Duty and consumers will benefit from:Clear information: Consumers will get clear, upfront details about their agreement, including when payments will be due, amounts, and what happens if they miss a payment.Affordability checks: Lenders must carry out proportionate checks to make sure customers can afford to repay what they borrow before offering BNPL.Support when needed: Lenders will need to offer support to customers in financial difficulty, and, where appropriate, direct them to free debt advice.Complaints and compensation: If something goes wrong, consumers will be able to complain to the Financial Ombudsman Service.BNPL provides an important source of credit for many, but there are no protections in place currently for those who use it repeatedly and may not...Consumer Credit11 February 2026
- Policy StatementPriorityPS26/1: Regulation of Deferred Payment Credit (unregulated Buy Now Pay Later)Our final rules on the regulation of Deferred Payment Credit (DPC) will ensure that DPC borrowers have appropriate protections when using the product. ... Read PS26/1 (PDF)What we are changing DPC has been more commonly known as Buy Now Pay Later (BNPL).DPC refers to an interest-free credit product, repayable in 12 or fewer instalments in 12 months or less and which is currently exempt from regulation. We refer to the product as DPC as this is the name given to it in the legislation that will bring it into regulation.In addition, we already have rules for other regulated credit agreements with Buy Now Pay Later offers, for which we use the term BNPL. These are distinct from DPC. From 15 July 2026, lenders who offer a DPC agreement to finance the purchase of goods or services from a merchant will come under our regulation. Merchants that offer their own DPC...Consumer Credit11 February 2026
- News & SpeechesFCA takes action against HTX to stop illegal financial promotionsThe FCA has begun legal proceedings against global crypto exchange HTX (formerly Huobi) for illegally promoting cryptoasset services to UK consumers. Access documents on this claim on the FCA websiteFirms providing crypto products to UK consumers need to comply with rules which protect consumers from unfair and misleading marketing. Advertising cryptoassets on social media or websites without complying with these rules is a criminal offence.Since the rules came into force in October 2023, the FCA has engaged extensively with firms, and the majority have reacted positively in complying with the new regime.The FCA previously warned about HTX’s illegal promotion of crypto services to UK consumers. However, it has continued to publish financial promotions in breach of these rules on its website and on social media platforms, including TikTok, X, Facebook, Instagram and YouTube.HTX operates an opaque organisational structure, hiding the identities of its owners and the operators of its website....Consumer Credit10 February 2026
- News & SpeechesHTX (formerly Huobi): legal proceedings informationFCA v Huobi Global S.A. and Others. On 21 October 2025, the FCA commenced proceedings in the Chancery Division of the High Court against the following parties:HUOBI GLOBAL S.A.(a company incorporated in Panama)PERSONS UNKNOWN (who are the owner of, controller and/or the persons currently in control of all or part of www.htx.com and/or its associated mobile applications (“the HTX Exchange”))PERSONS UNKNOWN (who are the legal and/or natural persons defined as the HTX Operators in the HTX Platform User Agreement (version dated 13 July 2023))PERSONS UNKNOWN (who are the persons currently in control of promotions on behalf of the HTX Exchange on any of the following social media platforms and/or messenger services: X, Facebook, Instagram, Telegram, Tik Tok, You Tube, Discord, Medium and/or LinkedIn)PERSONS UNKNOWN (who are such additional persons who on or before 31 October 2028 become owner or controller of the HTX Exchange and/or become legal and/or natural person...10 February 2026
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- DecisionFCA fines two individuals a combined £108,731 for insider dealingThe FCA has fined Dipesh Kerai and Bhavesh Hirani for insider dealing in shares of Bidstack Group Plc. Mr Kerai has been fined £52,731, and Mr Hirani has been fined £56,000.In December 2021, Mr Hirani was the interim Chief Financial Officer at Bidstack, a company that placed advertising inside video games. This meant he had access to inside information about a major upcoming deal between Bidstack and a large video game publisher.Before it was announced to the public, Mr Hirani passed this confidential information to Mr Kerai. Mr Hirani then opened a trading account in Mr Kerai’s name and, with his help, bought 1.3 million Bidstack shares in advance of the announcement while in possession of inside information.When the deal was made public, Bidstack’s share price rose by more than 125%. Mr Kerai made more than £9,000 in profit, which the FCA has now required him to return as part...Investment10 February 2026
- News & SpeechesIndependent assessment to support establishment of a Future EntityWe have published a letter to trade associations to provide an update in the development of a Future Entity (FE) for open banking. The letter confirms the appointment of KPMG to provide an independent assessment of proposals to establish a standards-setting body for UK open banking APIs that is capable of becoming the Future Entity. It explains the purpose and scope of the assessment, the respective roles of the FCA, industry, trade associations and the independent assessor, and how firms can engage in the process.We are publishing the letter to ensure transparency and broad access to information across the open banking ecosystem. The independent assessment will support decision-making at a time when the FCA does not yet have legislative powers to oversee a Future Entity.Read the letterPaymentsBanking6 February 2026
- News & SpeechesGemini Payments UK Ltd and Gemini Intergalactic UK Ltd exit the UK marketFrom 6 April 2026, Gemini is closing all customer accounts in the UK. Gemini Payments UK, Ltd (GPUK) is authorised by the FCA to issue electronic money (e-money) and provide payment services.Gemini Intergalactic UK, Ltd (GIUK) offers cryptoasset products. These activities are not regulated by the FCA, although we oversee compliance in accordance with UK anti-money laundering regulations. On 5 February 2026, GPUK and GIUK confirmed they plan to exit the UK market. Effective 6 April 2026, Gemini will close all customer accounts in the UK, in a phased wind-down exercise. Until 4 March 2026, customers can continue using their accounts without disruption. From 5 March 2026, all customer accounts will be placed in ‘withdrawal-only’ mode.We recommend GPUK and GIUK customers read the support article published by Gemini for detailed guidance and frequently asked questions. If you have a complaint about GPUK, consider making a complaint to the Financial Ombudsman...Payments6 February 2026 · deadline 6 Apr
- News & SpeechesFCA stops Advantage Wealth Management Ltd from carrying out regulated activities and imposes assets restrictionThe FCA has imposed restrictions on independent financial adviser Advantage Wealth Management Ltd (AWM), which means it must not dispose of any assets or conduct any regulated activities without the written consent of the FCA. The action follows concerns that AWM is not being managed in a way that ensures that its affairs are conducted in a sound and prudent manner. We issued a First Supervisory Notice (PDF)on 22 December 2025, outlining further details about our concerns and the basis for imposing the restrictions:Treatment of customers– the FCA has concerns about the circumstances in which several AWM customers had their investments moved into cash holdings.Appropriate financial resources– the FCA is not satisfied that AWM has or will have appropriate financial resources.Levels of cooperation– AWM has not been open and cooperative with us.The firm must not conduct any regulated activities without the FCA’s prior written consent and, as a result, can...Consumer CreditInvestment5 February 2026
- News & SpeechesUpper Tribunal finds that Banque Havilland devised a plan to harm the Qatari economyThe Upper Tribunal has upheld the FCA’s decision that Rangecourt SA (formerly Banque Havilland), Edmund Rowland, the former London CEO and Vladimir Bolelyy, a former Bank employee, acted without integrity. The Tribunal agreed with the FCA that significant fines should be imposed, deciding that fines of £4m, £352,000 and £14,200 were appropriate for Rangecourt SA, Mr Rowland and Mr Bolelyy respectively. The Tribunal also upheld the FCA’s decision to ban Mr Rowland and Mr Bolelyy from working in financial services.Banque Havilland created a plan (initially titled ‘Setting fire to the neighbour’s house fund’) to harm the Qatari Riyal through manipulative trading strategies. The aim was to devalue the Qatari currency and break its peg to the US Dollar, harming the economy of Qatar. Banque Havilland intended to present this manipulative trading strategy to a sovereign wealth fund, Mubadala Investment Company. Mr Rowland and Mr Bolelyy were instrumental in this deliberate...Banking3 February 2026
- News & SpeechesInsurance in the round: Innovation, growth and trustSpeech by Sarah Pritchard, FCA deputy chief executive, at the ABI Annual Conference. IntroductionIt’s hard to think of a more symbolic venue to discuss driving change in the insurance sector than the QEII Centre.Step outside, and you’re in the shadow of both the Houses of Parliament, and Westminster Abbey. Scrutiny, change and serving citizens on one side. Tradition on the other.That’s where insurance sits, too.As an industry, you have to balance the new with the non-negotiables – finding ways to innovate while ensuring outcomes and trust keep pace. Throughout history, you’ve done exactly that.The UK Customer Satisfaction Index shows you understand and care for your consumers.That, alongside your ability to spot a need and build a market around it, is what makes our insurance markets world-leading.In our ever-changing world, insurance is critical. It shields millions of consumers from losses that could make them financially vulnerable. Underpins resilience for businesses. Drives...Insurance3 February 2026
- News & SpeechesRegulators announce first firms to join Scale-up UnitThe Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit. The Scale-up Unit announced last year is designed to build stronger ties and provide tailored support for fast-growing and innovative financial firms, helping them to grow sustainably at pace.The 6 firms that expressed interest and have been accepted to the first cohort are:Allica BankClearBankMonument BankNottingham Building SocietyOakNorth BankZopa BankThese firms will receive support designed to help them navigate the regulatory landscape as they develop new products, attract new customers, and move into new markets.PRA and FCA officials will meet directly with the firms, both as a group and individually, throughout the coming months. This will also help the PRA and FCA better understand scaling firms’ experience of the regulatory process, with the aim of improving regulatory processes for the entire sector to help...Consumer CreditInsuranceBanking3 February 2026
- News & SpeechesFalling cost of premium finance saving consumers around £157m a yearPeople who pay monthly for their insurance are saving around £157m a year, with over half the firms the FCA reviewed as part of a market study lowering the cost of premium finance. Interest rates for premium finance have fallen by an average 4.1 percentage points since 2022, saving consumers £8 on a typical motor policy and £3 on a typical home policy per year. The changes result from regulatory attention, fair value assessments and base rate reductions. The FCA has seen even more significant changes made by firms it identified as at highest risk of not providing fair value, following direct engagement with them. These firms reduced APRs by 7 percentage points on average – saving £14 on a typical motor policy and £4 on a typical home policy per year.Graeme Reynolds, director of competition and interim director of insurance at the FCA, commented:'For millions, paying for insurance monthly...PaymentsInsuranceBanking3 February 2026
- News & SpeechesWhat do we mean when we say 'fair value'?What does 'fair value' mean in financial services? It might sound like dry regulator speak, but it’s really asking a simple question – are customers paying a reasonable price for a product, compared to the benefits they get in return?This is not us setting a particular price or level of profit which firms can make. But it's a challenge to firms – can they provide evidence that their customers are getting a fair deal? If they can’t, then they need to look again.This applies across financial services. One of the first areas we looked at after the introduction of the Consumer Duty was the cash savings market – prompted by complaints that savers weren’t seeing the benefits of high base rates. After working with the 9 largest banks, we saw improvements in both the rates available to savers and the volume and timing of firms’ communications to savings customers.We also...PaymentsConsumer CreditInsurance3 February 2026
- News & SpeechesThe role of the FCA and PSR in delivering the National Payments VisionSpeech by David Geale, executive director, payments and digital finance and Payment Systems Regulator (PSR) managing director, at the Payments Regulation and Innovation Summit 2026. A payments system that works for everyoneJust before Christmas I was in Billericay for the opening of the 200th banking hub.I got to chat to local people and business owners about the difference the hub will make to their everyday lives. It was great.Although if I’m honest, the biggest talking point was probably the giant chocolate coins made specially for the occasion.Roman coins. Medieval coins. Old two shilling pieces. All the size of dinner plates.I think that’s the first time I’ve seen people genuinely happy to eat into their funds!As educational – and tasty – as the coins were, banking hubs aren’t about nostalgia for cash.They’re one part of making sure the UK payments system works for different people, different businesses, and different moments in...PaymentsBanking2 February 2026
- News & SpeechesThe FCA’s long term review into AI and retail financial services: designing for the unknownSpeech by Sheldon Mills, at the FCA's Supercharged Sandbox Showcase event. Before we begin, take a look around this room. This is the Supercharged Sandbox. 23 firms at the frontier of retail financial services, chosen from 132 applications. If anyone still doubts the pace of AI change in our sector, this room is the answer.The Board has asked me to lead the long-term review into AI and retail financial services. I will report to the FCA Board in the summer, setting out recommendations to help the FCA continue to play a leading role in shaping AI-enabled financial services. This will culminate in an external publication to support informed debate.Many of you know me from my work on competition and the Consumer Duty. Those seven years taught me something simple but crucial: the real challenge in regulation isn’t dealing with what we already understand – it’s preparing for what we don’t.And...30 January 2026
- ConsultationHigh impactCP26/5: Aligning listed issuers’ sustainability disclosures with international standardsDiscover our proposals to evolve our rules for listed companies' sustainability disclosures. ... Read CP26/5 (PDF)Why we are consultingSustainability risks, including climate risks, have financial impacts on the long-term value and resilience of listed companies.We’re consulting on replacing our current rules for listed companies’ climate disclosures, with proportionate rules to:Align reporting with current international standards, with an implementation approach that reflects the readiness of listed companies.Make sure investors can access clear, consistent and robust information about sustainability risks and opportunities.Support overseas companies to be more transparent about their sustainability reporting, while removing duplication.Our proposals support the Government’s Leeds Reforms as well as the UK’s position as a global financial centre, by boosting comparability across markets and reducing duplicative rules. ... Who this is for The proposed rules to align sustainability reporting to the UK Sustainability Reporting Standards (SRS) apply to companies in the following listing categories, with some variation depending...BankingCorporate Finance30 January 2026 · deadline 20 Mar
- News & SpeechesEmil the Seal hijacks Waterloo station to warn commuters about investment scamsFCA stunt launches new Firm Checker tool as around 700,000 people lose money to investment scams. Morning commuters at London Waterloo got more than their usual caffeine hit today when a mysterious 'ATM' promising to 'give away a fortune' stopped them in their tracks – and revealed an unexpected surprise.As curious passers-by approached the machine, the screen slid open to unveil Emil the Seal, the FCA's finance-friendly mascot, delivering a blunt message about the dangers of investment scams.The playful stunt cut through the rush-hour chaos, cajoling commuters to engage with the ATM with the promise of receiving a 'fortune'. Instead, as they approached the ATM, Emil the Seal delivered a 'fortunate' message urging commuters to 'check it’s real before you seal the deal', making them realise that what you see isn't always what you get.The stunt is part of a new campaign from the FCA to promote its Firm Checker,...PaymentsConsumer CreditBanking29 January 2026
- News & SpeechesFCA seeks views on how to help close the protection gapThe FCA has called on the insurance industry to help more consumers access products that support them and their families if they become critically ill or die. The interim findings of its competition review of pure protection products found that, for those consumers that have taken out protection insurance, the market mostly works well. There are a wide range of products, most consumers can claim when they need to, and the costs of cover have remained stable in the last few years.But 58% of adults do not hold a pure protection product even though many could benefit from them. The FCA wants to help close this gap.Research suggests that the gap exists because consumers aren't aware of their needs and aren't prompted to consider them. Other issues include ability to pay, misunderstandings about the product or improvements needed in the sales process.The FCA is exploring what more can be done,...PaymentsInsuranceBanking29 January 2026 · deadline 31 Mar
- DecisionEnforcement Watch 1Newsletter covering insights and themes from our enforcement work. ... About this editionOn 3 June 2025, we published our updated Enforcement Guide (ENFG). In this, we amended our publicity policy to achieve greater transparency. In the first edition of Enforcement Watch, we cover our: Updated publicity policy in action. Enforcement case priorities. International partnerships.28 January 2026
- News & SpeechesOFSI and partners clamp down on the abuse of cryptoassetsWe’re working closely with the Office of Financial Sanctions Implementation (OFSI), UK law enforcement, and our regulatory partners to tackle the abuse of cryptoassets and associated money‑laundering activities. Read the full blog on the OFSI’s website.28 January 2026
- News & SpeechesNext steps for establishing a bond consolidated tape providerWe have signed a contract with Etrading Software (ETS) to deliver the UK bond consolidated tape. A high-quality tape will provide investors with a comprehensive overview of the bond market and support price formation and liquidity. It will help maintain the UK’s position as a highly competitive and compelling place to invest and grow.ETS has now launched a website that sets out key milestones and provides technical information for data contributors and users. We will continue to support ETS and market participants ahead of the launch of the tape, which ETS plans to take place in June 2026.The High Court lifted a freeze on the contract award in December 2025. This allows us to move forward on delivering the tape while continuing to defend a legal challenge. Further information:We recently provided an update on the contract award.28 January 2026
- News & SpeechesMills Review to consider how AI will reshape retail financial servicesThe FCA has launched a review into the implications of advanced AI on consumers, retail financial markets and regulators. The Review will be led by Sheldon Mills and builds on the FCA’s existing work on AI. This includes its AI Discussion Paper, AI Sprint, and AI Lab including AI Live Testing and its groundbreaking Supercharged Sandbox supported by NVIDIA.AI is already embedded across financial services. Rapid advances in generative, agentic and emerging forms of AI mean the next phase of change could be profound, having the power to reshape markets, change the way firms compete and how consumers use retail financial services.Sheldon Mills said:'AI is already shaping financial services, but its longer-term effects may be more far-reaching. This review will consider how emerging uses of AI could influence consumers, markets and firms, looking towards 2030 and beyond.'By taking a forward-looking view, the review will help the FCA continue to support...Payments27 January 2026
- News & SpeechesReview into the long-term impact of AI on retail financial services (The Mills Review)We review how AI may reshape retail financial services for consumers, firms, markets and regulators by 2030 and beyond, and seek your views across 4 interrelated themes. ...27 January 2026
- News & SpeechesGuavapay Limited enters compulsory liquidationOn 21 January 2026, Guavapay Limited entered compulsory liquidation. The Official Receiver, an officer of the Insolvency Service, is its liquidator. Guavapay is authorised by the FCA to issue E-money and provide payment services to its customers.On 17 September 2025, Guavapay agreed to a voluntary requirement with the FCA, restricting the activities it can undertake. See details on the Financial Services Register.As liquidator, The Official Receiver is responsible for:Managing customer claims against the firm.Returning funds to customers where possible.Deciding whether an Insolvency Practitioner should be appointed as liquidator to replace the Official Receiver.If an Insolvency Practitioner is appointed to take over as liquidator, we will provide an update accordingly.As the firm continues to be authorised by us, we will engage with the liquidator to seek the best outcome for consumers.Payments27 January 2026
- News & SpeechesFCA welcomes the Accelerated Settlement Taskforce’s 2025 report on T+1 progressThe latest Accelerated Settlement Taskforce (AST) report updates on the significant progress made towards the move to T+1. Read the AST report.Jamie Bell, head of capital markets at the FCA, said:'T+1 marks a major milestone in our drive to support growth and innovation. Faster settlement cycles will reduce risk, free up capital for faster reinvestment and align with other major markets.'We are delighted to see the great progress made last year highlighted in the AST’s report. By the end of this year, we expect market participants to update their systems and processes and be ready to test those changes. A smooth transition to T+1 will be key to maintaining market integrity.'Read more about T+126 January 2026
- News & SpeechesNew regime for securities and what consumers should look out forWe urge consumers thinking of investing in high-risk securities, such as mini-bonds and loan notes, to continue to be cautious. On 19 January 2026, the Public Offers and Admissions to Trading regime came into force. The regime sets new rules and standards about when an offer of securities to the public can be made.A security is a financial instrument that represents some type of financial value (for example, shares, bonds and stock) that can be traded on a financial exchange.The types of securities within scope of this regime include transferable securities (such as shares on a stock exchange) as well as non-transferable debt securities (including mini-bonds and loan notes).23 January 2026
- News & SpeechesFCA seeks feedback on further rules for cryptoasset firmsWe are seeking views on further rules for cryptoasset firms as the final step in our consultations on our crypto rules. We have made significant progress in delivering our crypto roadmap and are helping firms to meet our standards and get ready for when the gateway opens in September 2026.We have set out our proposals on how the Consumer Duty, conduct standards, redress and safeguarding will apply to cryptoasset firms. We are also seeking feedback on our proposed approach to international cryptoasset firms.These proposals continue our progress towards an open, sustainable and competitive crypto market that people can trust. The Consumer Duty sets appropriate standards for crypto firms by ensuring they deliver good outcomes for customers while supporting them to navigate their financial lives. At the same time, risks remain, and we want a market where innovation can thrive, but where people understand the risks. But regulation can’t – and...Consumer CreditInvestment23 January 2026
- ConsultationHigh impactCP26/4: Application of FCA Handbook for regulated cryptoasset activities – part 2We are consulting on our proposed rules and guidance for firms conducting regulated cryptoasset activities. ... Read CP26/4 (PDF)These include requirements for:Consumer Duty (read guidance on applying the Duty)Redress and Dispute Resolution (DISP)Conduct of Business Standards (COBS)Credit for Crypto PurchasesTraining and CompetenceSenior Managers and Certification Regime (SM&CR)Regulatory Reporting (SUP 16)Cryptoasset SafeguardingRetail Collateral Treatment in Cryptoasset BorrowingLocation Policy GuidanceWhy we are consultingWe want to develop a competitive and sustainable cryptoasset sector. Our proposed rules and guidance aim to:Promote market integrityProtect consumersSupport innovation and competition in the UK cryptoasset marketThis consultation focuses on how these requirements apply to cryptoasset firms and reflects feedback from previous consultations, including:CP25/14 – Stablecoin Issuance and Cryptoasset CustodyCP25/15 – Prudential Regime for Cryptoasset FirmsCP25/25 – Application of FCA Handbook for Regulated Cryptoasset ActivitiesCP25/40 - Regulating Cryptoasset ActivitiesCP25/41 - Admissions & Disclosures and Market Abuse Regime for CryptoassetsCP25/42 - Prudential Regime for Cryptoassets Part IIWe plan to open...PaymentsConsumer CreditInvestment23 January 2026 · deadline 12 Mar
- GuidanceGC26/2: Application of the Consumer Duty to cryptoasset firmsWe are consulting on our proposed guidance on the Consumer Duty for cryptoasset firms. ... Read GC26/2 (PDF)Why we are consultingWe want to develop a competitive and sustainable cryptoasset sector. Our proposed rules and guidance aim to:Promote market integrityProtect consumersSupport innovation and competition in the UK cryptoasset marketThe guidance we are consulting on aims to help cryptoasset firms to effectively apply the Consumer Duty to their regulated activities.We plan to open our gateway for firms to apply for cryptoasset permissions in September 2026.Who this is forFirms planning to undertake regulated cryptoasset activities as set out in the Treasury’s Statutory Instrument.Industry groups, law firms, and trade bodies representing cryptoasset firms.Auditors and professional advisers in the cryptoasset sector.Consumer interest groups.It may also interest:Policy makers and other regulatory bodies.Academics and think tanks.Industry experts and commentators.Next stepsWe want your comments on our proposals by 12 March 2026. The questions we are consulting on are...Payments23 January 2026 · deadline 12 Mar
- News & SpeechesScreening for success: Opening the gateway to growthSpeech by Sheree Howard at the FCA's Gateway to growth, Chicago Booth London Conference Centre. The first time I flew was in my teenage years, and like many of my generation, that was a flight to Europe for a family holiday. I didn’t make it further afield until I was in my mid to late twenties.Today, most, if not all of us, would think of international travel as the norm – especially given the global nature of our business.It is amazing, therefore, to think that right around this time in 1970, the first jumbo jet with fare-paying passengers landed at Heathrow.That flight unlocked global travel to and from the UK on a new scale – and turned Heathrow into a gateway to the world for the majority.But with this expansion came a new issue. Airport security – the gateway into the country itself – had to be reimagined. It needed...22 January 2026
- News & SpeechesRegulators give clarity in relation to open banking pricing modelsWe have issued a joint statement with the Payment Systems Regulator (PSR) giving clarity on open banking pricing models. We and the PSR have issued the following statement (PDF).This confirms we will not, at this stage, prioritise a Competition Act 1998 (CA98) investigation into the centralised ‘access fee’ pricing model being developed by the UK Payments Initiative (UKPI) for commercial Variable Recurring Payments (cVRPs). cVRPs are an emerging open banking technology that allow consumers to give trusted third parties secure, recurring access to manage payments on their behalf. They have the potential to offer consumers and businesses control and convenience, while enabling lower-cost, more flexible payment options for businesses.After engaging with the funders of the UKPI, we and the PSR worked at pace to clarify our enforcement position on the UKPI’s proposal for a commercial model and consulted with the CMA about our planned non-prioritisation statement given concurrency arrangements. The...PaymentsConsumer CreditBanking20 January 2026
- DecisionTribunal upholds ban and fines for corrupt and dishonest adviserThe FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal. The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal.Mr Reynolds was dishonest when he gave pension transfer advice and investment recommendations to his customers, causing them significant harm.Mr Reynolds showed a clear disregard for his customers’ interests. He encouraged British Steel Pension Scheme members to transfer out of their defined benefit pension scheme, despite knowing that the advice was wholly unsuitable. He also advised his customers to invest in high-risk and unsuitable products while at the same time hiding high exit fees and falsifying documents.Mr Reynolds’ misconduct exposed hundreds of people to serious financial loss. Over £17.6m has been paid in compensation to more than 470 affected customers, many of whom...Banking19 January 2026
- News & SpeechesLogic Investments Ltd enters special administrationOn 16 January 2026, Logic Investments Ltd (Logic Investments) entered special administration. Alex Watkins and Ed Boyle of Interpath Ltd were appointed as joint special administrators. Logic Investments is FCA authorised and regulated to provide wealth management services. On 16 December 2025, Logic Investments agreed to an FCA requirement preventing it from accepting new clients, client money or assets; or moving existing client money or assets without FCA consent. This was done because of concerns over the firm’s financial position, and with the aim of protecting clients. The firm’s directors have concluded the firm is insolvent and applied to the court to place Logic Investments into special administration.The joint special administrators will: Manage client claims against the firm.Return client money and custody assets funds to clients, where possible. As the firm is still regulated by the FCA, we will work with the joint special administrators to seek the best outcome...Consumer CreditInvestment16 January 2026
- News & SpeechesCourt approves FCA’s proposals to distribute Asset Land investor fundsOn 19 December 2025 the High Court approved the FCA’s proposals to distribute funds to Asset Land investors. The Court has directed the FCA to pay funds to investors in the Asset Land schemes who provide valid bank account details to the FCA on or before 20 February 2026.Investors who have not received previous communications from the FCA or who have not updated their contact information are requested to immediately contact the FCA using the details below.Please ensure this is completed no later than 4pm on 30 January 2026 and include the following information:Full name.Current residential and email addresses.Residential and email addresses at the time the investment was made (if different from your current residential and email addresses).The name(s) of the site(s) and number of plots in which the investment was made, and the total amount invested.You should provide the above information, preferably by email to the following email address:...Banking16 January 2026 · deadline 20 Feb
- News & SpeechesMulti-firm review of customer outcomes delivered by smaller mutual life insurersOur findings on how smaller mutual life insurers meet Consumer Duty requirements and deliver good customer outcomes, sharing good practice and our expectations.Insurance16 January 2026