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FCA News & Analysis
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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 521–560 of 561.
- Data ReleaseComplaints dataTransparency from firms on the number of complaints they receive is helpful for industry and consumers. Firms can compare their performance in the market and consumers have an additional source of information about the firms we regulate. Further complaints data may be obtained from the Financial Ombudsman Service. ... We publish our complaints data every 6 months, around April and October. We provide firm-specific data for individual firms and aggregate, or total, data at market-level. These data sets include submissions from firms reporting 500 or more complaints within a 6-month period, or firms reporting 1,000 or more complaints in a year. Firms that meet these thresholds are obligated to publish complaints data on their websites. These complaints account for around 98% of all complaints that firms report to us. Please note that where a firm has reported less than 500 complaints, they report less detailed data to us.Firm specific complaints...Consumer CreditInsuranceMortgages23 October 2025
- Data ReleaseFirm-level complaints data sortable table: 2026 H1What changed – The FCA has published a new sortable data table covering firm‑level complaints for the first half of 2026 (H1). The table lists every firm that reported ≥ 500 complaints in the six‑month period (or ≥ 1,000 complaints on an annual basis) and shows totals for open, closed, and upheld complaints, broken down by product group and timing of closure. Who is affected – All FCA‑regulated firms that meet the reporting thresholds (≥ 500 H1 complaints or ≥ 1,000 annual complaints). The data include banks, credit‑card issuers, mortgage lenders, insurers, investment firms and other financial product groups. Actions to consider (process steps only) 1. Access the table – Use the FCA website’s “Firm‑level complaints data sortable table: 2026 H1” page. 2. Identify your firm – Search by firm name or use the filter dropdown to view more than ten entries at a time. 3. Benchmark – Compare your firm’s complaint volumes, closure times and upheld rates against peers in the same product group. 4. Review internal reporting – Ensure your own complaints‑tracking system captures the same metrics (open, closed ≤ 3 days, closed > 3 days ≤ 8 weeks, upheld). 5. Update governance – If gaps are found, adjust complaint‑handling procedures, staff training or escalation routes accordingly. Deadline – The data are now live; firms should review the table as soon as practicable to inform their H1‑2026 compliance checks and upcoming annual reporting. Source – FCA, Firm‑level complaints data sortable table: 2026 H1 – Data (URL: https://www.fca.org.uk/data/complaints/2026-h1) (Word count: 158)PaymentsConsumer CreditInvestment23 October 2025
- Data ReleaseFirm specific complaints dataThis page shows the individual firm data reported to us by financial services firms for 2025 H2 between 1 July to 31 December 2025. It includes analysis on the latest trends for each product. ... The firm-specific complaints data is displayed at individual firm-level and is categorised into 5 product groups based on the type of business conducted by a firm. The data can be found in our 8 interactive, sortable tables and downloadable Excel tables sortable by:the number of complaints in context of the number of accounts, or policies provided or sold (Context A and B respectively)the number of complaints opened (or received) by the firmsthe number of complaints closed by the firmsthe percentage closed within 3 daysthe percentage of complaints closed after 3 days but within 8 weeksthe percentage of complaints upheld (where the firms agreed with the complainant)The data can be sorted in descending or ascending order...Consumer Credit23 October 2025
- Data ReleaseAggregate complaints data: 2025 H1This page gives an overview of the complaints financial services firms reported to the FCA during 2025 H1 (1 January to 30 June 2025), including the latest trends and analysis by product group. ... By analysing this data, we evaluate firms' treatment of their customers and track changes in their performance over time. We also use this information in our supervision of firms and markets, and to identify any potential concerns about specific financial products.Key findingsAggregate complaints data sortable tables: 2025 H1Opened complaintsClosed complaintsComplaints upheldRedress paidAbout the complaints dataDownload the aggregate complaints data (XLSX)Key FindingsIn 2025 H1, financial services firms received 1.85m complaints, a 3.6% increase from 2024 H2 (1.78m) (Figure 1). Since 2021 H1, complaints have stayed relatively constant between 1.7m and 2.0m. The product groups that experienced an increase in their complaint numbers were:Banking and credit cards increased 7.2% from 839,526 (2024 H2) to 899,861 (2025 H1)Decumulation &...Consumer CreditInvestmentInsurance23 October 2025
- News & SpeechesOpened complaintsWhat changed – The FCA has published a new RSS feed showing the latest “opened complaints” data, broken down by product, product group and firm type. For the five product groups the feed also provides the volume of complaints by cause and contextual figures (complaints per 1,000 policies, balances, accounts or agreements in force). The underlying Tableau dashboards and downloadable Excel data files are now publicly accessible. Who is affected – All FCA‑regulated firms (banks, insurers, investment firms, etc.) and their compliance, consumer‑complaints and risk‑management teams that monitor complaint trends and report to the FCA. Actions to consider (process steps only) 1. Access the RSS feed and download the Excel data set and Tableau dashboard links. 2. Import the data into your internal complaints‑tracking system or BI tool. 3. Compare the new figures with your own complaint volumes to identify any product‑group or cause‑specific spikes. 4. Update internal monitoring dashboards and, if required, adjust complaint‑handling procedures or escalation thresholds. 5. Document the source and date of the data for audit‑trail purposes. Deadline – No regulatory deadline attached; data is available immediately and should be reviewed as part of your next regular complaint‑performance reporting cycle. Source – https://www.fca.org.uk/news/opened‑complaints (RSS feed) – FCA RSS document.23 October 2025
- DecisionFCA bans and fines advisor £100,281 for insider dealingThe FCA has fined Neil Sedgwick Dwane £100,281 for insider dealing and banned him from working for UK financial services. In 2022, Mr Dwane worked as an advisor for ITM Power Plc (ITM). Because of his role, Mr Dwane knew the details of an announcement ITM planned to make to the market on 27 October. Following that announcement, ITM’s share price fell by around 37%.The day before the announcement, Mr Dwane used the inside information and sold his own and a family member’s 125,000 shares worth £124,287. He took advantage of the subsequent fall in ITM’s share price to purchase 180,000 shares worth £140,700, gaining £26,575 from the price difference.Mr Dwane is an experienced financial professional and knew his conduct amounted to insider dealing, abusing his position of trust.Mr Dwane was required to obtain ITM’s permission before dealing in its shares, but he failed to do so.Steve Smart, executive director...Investment23 October 2025
- News & SpeechesComplaints upheldWhat changed – The FCA now publishes a new Tableau‑based dashboard showing the number of complaints that have been upheld (i.e., the firm was found to have acted incorrectly) broken down by product group and firm type. The underlying data and explanatory notes are available for download as an Excel file. Who is affected – All FCA‑regulated firms (banks, insurers, investment firms, consumer credit firms, etc.) that receive customer complaints, as well as the compliance teams that monitor complaint handling performance. Actions to consider (process steps only) 1. Access the dashboard – Visit the FCA’s “Complaints upheld” RSS page and open the Tableau visualisation. 2. Download the data – Click the link to the XLSX file and save the dataset and notes. 3. Benchmark your firm – Compare your firm’s upheld‑complaint rates against the relevant product‑group and firm‑type averages. 4. Identify gaps – Highlight any areas where your firm’s rate exceeds the industry average. 5. Update internal reporting – Incorporate the latest FCA data into your monthly/quarter‑end complaint‑handling reports. 6. Review remediation procedures – If your firm’s upheld‑complaint rate is high, trigger a review of complaint investigation and resolution processes. Deadline – The dashboard is live now and will be refreshed regularly; firms should review the latest data at least once per quarter to stay current. Source – FCA RSS feed: “Complaints upheld” – Tableau public dashboard (downloadable XLSX).23 October 2025
- News & SpeechesClosed complaintsWhat changed – The FCA has published a new RSS feed showing a detailed snapshot of closed complaints by product group and firm type, together with the timeframes in which they were resolved. The feed also provides links to the underlying Tableau dashboards and an Excel file (XLSX) containing the raw data and notes. Who’s affected – All FCA‑regulated firms (banks, insurers, investment firms, etc.) and their compliance, consumer‑complaints and reporting teams that monitor complaint handling performance. Actions to consider (process steps only) 1. Access the RSS feed and download the Excel data file. 2. Review the Tableau dashboards to understand closure rates and resolution times by product and firm type. 3. Benchmark your firm’s complaint‑closure performance against the published figures. 4. If gaps are identified, update internal complaint‑handling procedures and reporting templates. 5. Document any changes in your FCA‑required complaints‑handling KPI reports for the next supervisory review. Deadline – No formal deadline is attached; the data is published on an ongoing basis. Firms should incorporate the latest snapshot into their next quarterly compliance review. Source – https://www.fca.org.uk/news/closed‑complaints (RSS feed) FCA document type – RSS.23 October 2025
- Market BulletinPrimary Market Bulletin 59Newsletter for primary market participants, October 2025 / No. 59.Corporate Finance23 October 2025
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- News & SpeechesRedress paidWhat changed – The FCA has published a new Tableau‑based dashboard showing the total redress paid for complaints that were either upheld or not upheld, broken down by product group. The release also includes an Excel file (XLSX) with the underlying data and accompanying notes. Who’s affected – All FCA‑regulated firms that handle consumer complaints (e.g., banks, insurers, investment firms) and their compliance teams, as well as consumers who may wish to benchmark redress outcomes across product categories. Actions to consider (process steps only) 1. Download the data – Access the XLSX file from the dashboard page. 2. Validate internal records – Compare your firm’s redress payments against the published figures for the relevant product groups. 3. Update internal reporting – Adjust any internal KPI or regulatory reporting templates to reflect the latest FCA redress statistics. 4. Identify gaps – Highlight any discrepancies or trends (e.g., higher redress per complaint in a specific product) for further investigation. 5. Document findings – Record the analysis in your compliance risk register and flag any required remedial actions. Deadline – No formal deadline is attached to the data release, but firms should review the information as soon as practicable to ensure ongoing compliance with FCA reporting expectations. Source – FCA website (RSS feed). FCA document type – RSS.23 October 2025
- News & SpeechesHardwiring finance into national securitySpeech by Nikhil Rathi, FCA chief executive at the Corporation of the City of London’s annual City Dinner. Lord Mayor, this evening I want to discuss the role finance must play in our national security.Few have done more than you to put security and defence at the heart of the City’s conversation. You are, after all, the decorated chair of the Square Mile reservists – in which the Lady Mayoress herself serves. I can see what you’re thinking: Goodness, Nikhil, couldn’t you go for something a little lighter? Something less contentious, like how to define high commission on motor finance?You may rather I take up your call on risk warnings or talk about our supervisory approach and the need for more consistency and pace all the way through our organisation. Feedback we have heard and are responding to. You perhaps think I have nothing to offer but blood, toil, guidance...22 October 2025
- News & SpeechesDo the right thing: Part IISpeech by Therese Chambers, joint executive director of enforcement and market oversight, delivered at the City & Financial Global FCA Investigations and Enforcement Summit. Speaker: Therese Chambers, joint executive director of enforcement and market oversightEvent: City & Financial Global FCA Investigations and Enforcement SummitDelivered: 20 October 2025Note: this is the speech as drafted and may differ from the delivered versionReading time: 14 minutesKey messages:We expect firms to do the right thing, and where they do, we will work with them.We are pragmatic in our approach, but dig in when necessary.We want to play our part in creating an environment in which consumers and firms thrive.21 October 2025
- News & SpeechesGovernment’s decision on reforming anti-money laundering and counter-terrorism financing supervisionResponding to the Government’s decision on reforming anti-money laundering and counter-terrorism financing supervision, Steve Smart, joint executive director of enforcement and market oversight at the FCA, said:'We recognise the benefits of an improved regime for anti-money laundering supervision. These changes will simplify the supervision of professional services, ensure more consistent oversight and help us identify and disrupt crime.'The FCA will work closely with the Government, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), Professional Body Supervisors, HMRC, the firms we will be supervising and others, as we work together to equip the UK to better fight financial crime. We can draw on our extensive expertise in this area to facilitate a smooth transition and ensure effective regulation.'The new regime will create enhanced opportunities for collaboration with key partners, including law enforcement, to tackle money laundering.'The FCA operates nationwide and we anticipate having a significant presence for this new regime...21 October 2025
- News & SpeechesCheshire Neighbours Credit Union Limited declared in default by FSCSOn 21 October 2025, the Financial Services Compensation Scheme (FSCS) declared Cheshire Neighbours Credit Union Limited in default, and it has stopped trading. Cheshire Neighbours Credit Union is a financial co-operative owned by its members. It is regulated by the Prudential Regulation Authority and the Financial Conduct Authority (FCA) as a deposit-taker under Firm Reference Number (FRN) 215692.Cheshire Neighbours Credit Union was in the process of winding down before being declared in default, and has attempted to contact all its members. Many members of Cheshire Neighbours Credit Union have already had their funds returned to them.The FSCS is stepping in to protect any members who've not already had their money returned by Cheshire Neighbours Credit Union. The FSCS will attempt to contact and return members’ money. Find out more on the FSCS website.Members who've not already received their funds from Cheshire Neighbours Credit Union and do not receive a payment...Consumer CreditBanking21 October 2025 · deadline 30 Oct
- News & SpeechesMulti-firm review of client categorisation in corporate finance firms: high-level observationsWe reviewed firms’ compliance with COBS3 client categorisation rules and COBS4 certification requirements. We found gaps in firms’ assessments and records.Investment20 October 2025
- News & SpeechesFinancial crime oversight in corporate finance firms shows gaps, says FCAA recent survey found that two-thirds of corporate finance firms not required to submit financial crime returns may be falling short of money laundering rules. Corporate finance firms help businesses raise money by connecting them with investors or lenders and are vital to the growth and success of the UK economy – making effective financial crime controls essential.11% of responding firms reported having no documented business-wide risk assessment, which is a requirement under the Money Laundering Regulations. Without a business-wide risk assessment, firms are leaving themselves and the wider market vulnerable to money laundering, fraud and other forms of financial crime.Other findings from the survey that highlighted areas for improvement included:10% of firms stated they did not retain documented evidence of customer due diligence.29% of principal firms said they did not conduct financial crime risk assessments for their appointed representatives.6% of principal firms reported not monitoring their appointed representatives’ compliance...Consumer CreditCorporate Finance20 October 2025
- News & SpeechesFinancial crime controls in corporate finance firms: survey findingsExplore the findings from our survey on financial crime controls in corporate finance firms (CFFs), including areas for improvement and good practice.Corporate Finance20 October 2025
- News & SpeechesJapan and the UK: Shared growth, shared futureSpeech by Nikhil Rathi, FCA chief executive, at Japan Weeks in Tokyo. While most people might expect Japan and the UK to be quite different, I have found that we have quite a bit in common.Our countries share a love of timeliness, preparedness, queueing – and, apparently, Paddington Bear.The UK has loved seeing His Excellency Hiroshi Suzuki, Japanese Ambassador to the UK, bringing Paddington everywhere from London to Nagoya – via Shinkansen, no less.These are recent links.The relationship between the UK and Japan spans centuries.In 1858, we signed the Treaty of Amity and Commerce. I find that name fitting, as the spirit of friendship has endured.In the nineties, both countries held festivals showcasing the other’s culture.And during a recent visit to Japan, the Duchess of Edinburgh and Crown Princess Akishino planted an English oak tree at the State Guest House – one grown from a tree planted by Queen Elizabeth...Consumer CreditBanking19 October 2025
- Market BulletinPrimary Market Bulletin 58Newsletter for primary market participants.October 2025 / No. 58Corporate Finance17 October 2025
- Data ReleaseGeneral insurance value measures data 2024Our third full year of general insurance (GI) value measures data covers January 2024 to December 2024. ... We publish this data annually to drive transparency in the market and to provide firms, consumer groups and other stakeholders common indicators of value across a range of general insurance products. These indicators include claims frequency, claims acceptance rates, average claims payout, claim complaints rate, and the proportion of premiums paid out in claims.This publication is a factual summary only, and we explain below any data challenges and limitations. The data is not designed to directly support consumers when making decisions about insurance products. The data is historic so may not reflect products and prices available today. If consumers have questions about the value of their insurance products, they should raise these with their insurer or broker directly. It is important that consumers understand what cover they are getting – have confidence...PaymentsInsurance17 October 2025
- Market BulletinFG25/6: Primary Market Bulletin No. 58The Knowledge Base has been updated with the guidance set out in Primary Market Bulletin No. 58. ... Date of consultation25 July 2025Summary of changes to the Knowledge Base The Knowledge Base is our repository of non-Handbook commentary that has the status of formal FCA guidance. It is a series of short procedural and technical notes ordered by topic. The notes cover aspects of, among others, the UK Listing Rules, Prospectus Regulation Rules and Disclosure Guidance and Transparency Rules.The information aims to help issuers, sponsors and practitioners interpret these rules. We have made the following changes to the Knowledge Base, following our consultation in Primary Market Bulletin No. 57: Amending the following existing technical note:Primary Market/TN/710.2 – Sponsor Services: Principles for SponsorsAdding the following new technical note: Primary Market/TN/638.1 - Guidance on application of complex financial history and significant financial commitment rulesSummary of feedback and changes made We summarise these...Corporate Finance17 October 2025
- News & SpeechesBanks need to help 'break the spell' of romance scamsThe FCA found examples of banks going to significant lengths to protect those at risk of romance fraud, but also uncovered missed opportunities to prevent these scams, which cost victims £106m last year. One of the cases the FCA reviewed involved a victim losing more than £428,000.Romance fraud is a growing financial crime, with cases rising by 9% last year. Victims are deceived into sending money to fraudsters who engineer false romantic relationships or friendships. Over 8 in 10 cases (85%) start online, particularly through social media and dating websites, suggesting platforms have a critical role to play in preventing fraud and reducing harm.In its romance fraud review, the FCA has set out measures banks and other payment firms can take to protect their customers. These include better detection and monitoring systems, staff training, early identification of signs of vulnerability, and compassionate aftercare.Key findingsIntervention and prevention are made difficult for...PaymentsBanking17 October 2025
- News & SpeechesCombating romance fraud – prevention, detection and supporting victimsFighting financial crime, including Authorised Push Payment (APP) fraud continues to be one of our strategic priorities. This is in line with the national system priorities, which include frauds that cause high levels of harm, such as romance fraud. We set out key findings from our review of how firms detect and prevent romance fraud, and the measures they take to protect their customers against it. ... Who this review applies toThis multi-firm review will be of interest to UK Payment Service Providers (PSPs), including banks, building societies, and other businesses that provide payment accounts.PaymentsBanking17 October 2025
- GuidanceGC25/3: Primary Market Bulletin No. 58We are consulting on the following changes we propose to make to the Knowledge Base. ... October 2025 updatePlease note that this webpage was updated on 31 October 2025 as we identified clerical errors in some of the guidance notes we propose to amend, as follows:(a) Draft Procedural Notes 903 and 908, and Technical Notes 305, 321, 522, 623, 626, 629 and 635 displayed blackline deletions which did not relate to any proposed deletions of text from the existing notes. Whilst the initially published draft notes ultimately showed how we propose the finalised text of the notes to appear, updated versions correcting the blackline errors were published on 31 October 2025 and are available via the relevant weblinks below. Please use these versions for the consultation ending on 21 November 2025; and(b) Errors in the draft Technical Note 602.5 were found, details of which are set out in the 'Amendments...BankingCorporate Finance17 October 2025
- News & SpeechesInvestigation into Moneda Capital GroupWe have opened an investigation into the Moneda Capital Group and a number of people associated with its companies. The group includes:Moneda Capital PLCMoneda Capital Asset Management LtdMCAM LtdVSD Capital LtdAnyone who has invested with these firms, and has not previously contacted us, should call our helpline and explain you are calling about Moneda Capital.15 October 2025
- News & SpeechesPremier Insurance Company Limited enters administrationOn 14 October 2025, the Gibraltar Financial Services Commission (GFSC) announced that Premier Insurance Company Limited (Premier Insurance) had entered administration. To avoid future potential claims not being fully covered, customers of the firm should consider securing alternative motor insurance as soon as possible.Read the GFSC announcement.Premier Insurance is an insurer authorised and regulated by the GFSC. It operated in the UK on a freedom-of-services basis which means some UK customers hold policies with the firm. Policies were sold in the UK through various insurance brokers via the firm’s UK-based intermediary, Premier Underwriting Ltd.On 14 October 2025, the company was placed into administration, following an application to the Supreme Court of Gibraltar.Freddie White and Bradley Chadwick of Grant Thornton have been appointed as joint administrators for the company.The company, which predominantly wrote car and motorcycle insurance policies for UK customers, stopped writing new insurance in January 2025.All customers continue to...PaymentsInsurance15 October 2025
- News & SpeechesRed tape slashed by 70% under new capital rules The FCA is streamlining the rules on regulatory capital, also known as own funds, for investment firms. These rules make sure investment firms can absorb losses and maintain financial resilience during periods of stress.This move is set to help reduce regulatory burden and make it easier for firms to comply with the rules around regulatory capital. The rules do not change how much capital firms must hold.The FCA has removed outdated banking provisions and reduced the volume of legal text by 70% from approximately 44,100 to 13,200 words. These changes will better help firms understand their obligations and focus more resources on their core business, rather than navigating complex capital definitions. The changes take effect on 1 April 2026.The FCA is grateful for the positive support and engagement from industry to its consultation on the changes.The reforms align with the government's regulatory reform agenda, including the Edinburgh and Leeds Reforms...InvestmentBanking15 October 2025
- News & SpeechesFCA secures US$101m redress for BlueCrest investorsThe FCA has secured US$101m in redress to UK and other non-US investors in a fund sub-managed by BlueCrest Capital Management (UK) LLP (BlueCrest) and imposed a public censure. Between October 2011 and December 2015, BlueCrest failed to manage fairly a conflict of interest created by its role in managing both an investment fund exclusively for the benefit of its partners and employees and a flagship fund available to external investors.BlueCrest’s management approved UK-based traders being moved from the external fund to work on the internal fund, in which they were personally invested and where they stood to benefit personally from those decisions. Disclosures to investors were insufficient and, at times, misleading. Investors were not told that a significant number of traders were moved to work on the internal fund. This affected investors’ ability to make informed decisions.The firm’s failure to manage fairly the conflict led to a sub-standard service...Consumer Credit14 October 2025
- News & SpeechesFCA supports tokenisation to boost efficiency and innovation in asset managementThe FCA has set out plans to support tokenisation, to drive innovation and growth in asset management. The plans include guidance to provide firms with additional clarity to aid adoption of this new technology.The UK is a leading asset management hub, with around 2,600 firms managing £14 trillion of assets for UK and global clients. The FCA is committed to supporting innovation to help the sector continue to grow, as set out in its strategy.As the way people invest changes in the future, tokenisation – digital representation of assets on distributed ledger technology – can help asset managers to innovate and stay competitive. Tokenised products could drive competition and increase choice for consumers – and open up new ways to distribute funds, including to those new to investing.Tokenisation also has the potential to broaden access to private markets and infrastructure investment and ultimately help consumers access more cost-effective and personalised...Consumer Credit14 October 2025
- News & SpeechesFCA announces partnership to accelerate delivery of open financeWe've been working with the industry to deliver open finance, which will give people control over how they manage their money and plan their finances for the future. In our letter to the PM in January, we committed to completing a variety of work to help accelerate digital innovation. This included using our powers to develop open finance, potentially prioritising small and medium-sized enterprise (SME) lending.To support this work, ahead of launching the open finance roadmap and strategy, we are announcing a major new partnership and launching 2 TechSprints.Smart Data AcceleratorWe asked KPMG and Europe Economics to carry out pieces of work on the benefits open banking and open finance could bring for consumers and the financial services sector.Open banking has laid important groundwork to make everyday banking and payments more diverse and accessible. Open finance has the potential to extend this to more financial services products and services.The report...PaymentsConsumer CreditInsurance13 October 2025
- News & SpeechesT+1 Settlement: time is ticking – why firms should act now Why T+1 mattersThe UK’s transition to a T+1 settlement cycle on 11 October 2027 will mark a fundamental shift in how financial transactions are settled.Under T+1, certain trades must be settled just 1 business day after execution. The change is designed to improve market efficiency, reduce risk and align the UK with global settlement standards.While the initiative is market led, we’ll play our part in making sure firms and trading venues are prepared. We’ve engaged with a range of market participants – including buy-side and sell-side firms, financial market infrastructures, and trade associations – to understand how preparations are progressing and where challenges remain.T+1 will reduce the time you have to process your transactions by around 80%.Planning early will be crucial. Many of the key deadlines to put recommendations from the Accelerated Settlement Taskforce (AST) into action are in 2026.10 October 2025
- News & Speeches14m unfair motor loans due compensation under FCA-proposed schemePayouts on an expected 14m unfair motor finance agreements could start next year, under an industry-wide compensation scheme proposed by the FCA. The FCA estimates people would receive around £700 per agreement, on average. Based on the number of consumers the FCA estimates could take part in the scheme, lenders could pay out £8.2 billion in compensation.Motor finance companies broke laws and regulations in force at the time by failing to disclose important information. This led to unfairness, with consumers denied the chance to negotiate or find a better deal and, in some instances, paying more for their loan. A compensation scheme is the best, most efficient way of getting compensation to those owed it and would make it simpler for those who would otherwise struggle to claim. Research commissioned by the FCA shows almost half of those aware of possible compensation, but who had not yet made a claim,...Consumer Credit7 October 2025
- News & SpeechesFCA consults on motor finance compensation schemeWe are consulting on an industry-wide scheme to compensate motor finance customers who were treated unfairly between 2007 and 2024. A compensation scheme is the best way to ensure consumers who have lost out receive fair compensation in an orderly, consistent, quick, and efficient way, while ensuring a well-functioning and competitive motor finance market.An alternative to a compensation scheme would require consumers to complain to firms, then to the Financial Ombudsman Service if dissatisfied with the firm’s response, or through the courts. This would result in significantly higher administrative and legal costs for firms and consumers, lengthy delays and uncertain outcomes for all involved.Why are we proposing a scheme?Many firms broke laws and regulations in force at the time by failing to disclose important information. Our extensive review, covering data from 32m agreements, found widespread failures to adequately disclose the existence and nature of commission and contractual ties between lenders...7 October 2025
- News & SpeechesCurrency Matters Limited enters special administrationOn 6 October 2025, Currency Matters Limited entered special administration under the Payment and Electronic Money Institution Insolvency Regulations 2021. Frank Ofonagoro and Allister Manson of Opus Business Advisory Group were appointed as joint special administrators. Currency Matters is authorised by the FCA to provide payment services to corporate and retail clients.On 1 September 2025, we imposed restrictions on Currency Matters on undertaking certain activities.We had imposed restrictions on undertaking certain activities on Currency Matters, and on 24 October 2025 we published the First Supervisory Notice (FSN) served on the firm. The notice explains the reasons we took action to restrict its business, and a full description of the restrictions can be found on the Financial Services Register.The directors of Currency Matters concluded that the firm was insolvent and applied to court for a special administration order. The special administrators are responsible for managing customer claims against the firm and...PaymentsConsumer Credit7 October 2025
- Market BulletinPrimary Market Bulletin Issue 49The latest Primary Market Bulletin provides updates on listing rule interpretations and announces upcoming changes to the approval process for prospectuses. Includes clarification on ESG disclosure requirements in admission documents. Relevant for corporate finance advisers and companies planning listings. The bulletin also covers recent decisions on waiver applications and confirms the FCA's approach to special purpose acquisition companies (SPACs).Corporate Finance12 January 2025
- Market WatchMarket Watch 71: January 2025This edition of Market Watch covers market conduct themes including best execution monitoring, transaction reporting errors, and market abuse surveillance. The FCA expects firms to enhance their monitoring of algorithmic trading and review suspicious transaction and order reports (STORs). Investment firms should assess their market abuse detection systems and ensure adequate resources for compliance. The newsletter includes examples of good and poor practice from recent supervisory work.Investment11 January 2025
- Dear CEODear CEO Letter: Payments sector priorities for 2025The FCA has written to CEOs of payment institutions and EMIs setting out key supervisory priorities for 2025. These include Consumer Duty implementation, financial crime controls (particularly APP fraud prevention), operational resilience, and safeguarding of customer funds under CASS. Firms must ensure senior management accountability under SMCR. The letter requests firms to self-assess against these priorities and report findings by 28 February 2025. Payment firms should convene senior management immediately to coordinate responses.Payments10 January 2025
- GuidanceGC25/1: Guidance on treating vulnerable customers fairly across financial servicesThe FCA has published draft guidance clarifying expectations for identifying and supporting vulnerable customers across all sectors. The guidance covers staff training, product design, communication strategies, and complaints handling. It applies to payments, lending, investment, insurance, and mortgage firms. The consultation period runs until 10 March 2025. Firms should review current vulnerable customer policies against the guidance and consider updating procedures. This is a key Consumer Duty requirement.Consumer CreditInsuranceMortgages9 January 2025
- Data ReleaseFCA publishes Q4 2024 complaints data for banks and insurersThe FCA has released complaints data for the fourth quarter of 2024. The data shows a 12% increase in complaints related to payment services, particularly unauthorized transactions and APP fraud. Consumer credit complaints decreased by 8%, while investment and pension complaints remained stable. Firms can use this data for benchmarking and identifying emerging conduct risks. The FCA expects firms to analyze complaints data and identify root causes as part of Consumer Duty obligations.PaymentsConsumer Credit8 January 2025
- Handbook UpdateFCA Handbook: Updates to SYSC (Systems and Controls) effective 1 February 2025The FCA has published technical updates to SYSC, primarily affecting investment firms subject to MIFIDPRU. Changes include clarifications on governance arrangements for ESG considerations and updates to outsourcing requirements. The changes take effect on 1 February 2025. Investment firms should review their systems and controls documentation and update policies where necessary. Minor consequential amendments have also been made to IFPRU and BIPRU.Investment7 January 2025