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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 81–120 of 561.
- Market BulletinPrimary Market Bulletin 66What changed Technical Notes (TNs) 619.3 and 321.5 have been finalised, clarifying disclosure requirements for prospectus admission to a regulated market and the presentation of working‑capital statements and risk factors. A consultation on TN 803.1 introduces a “comply‑or‑explain” approach for the new sustainability disclosure regime (effective 1 January 2027) and proposes related updates to TN 801.4 and the removal of TN 802.3. The FCA highlights new FRC guidance on Chinese auditing standards and issues observations on issuer disclosure obligations following cyber‑incident disclosures. The FCA’s UK Listing Rules checklist webpage has been refreshed. Who is affected Listed issuers and their advisers preparing prospectuses for admission to a regulated market. Companies subject to the upcoming sustainability disclosure regime (all UK‑listed issuers). Firms using Chinese‑origin audit reports. Any issuer that may need to disclose material cyber‑security incidents. Actions to consider (process steps only) 1. Review the finalised TN 619.3 and 321.5 and update prospectus and working‑capital documentation accordingly. 2. Assess current sustainability reporting against the proposed “comply‑or‑explain” framework; map gaps and prepare explanations where needed. 3. Amend internal policies to incorporate the updated TN 801.4 requirements and retire any references to the deleted TN 802.3. 4. Verify that audit engagements comply with the new FRC Chinese‑auditing‑standards guidance. 5. Implement a cyber‑incident disclosure protocol reflecting the FCA’s recent observations. 6. Use the refreshed UK Listing Rules checklists to confirm overall compliance. Key deadlines Sustainability disclosure regime comes into force 1 January 2027 (consultation closes 30 November 2026). All other updates are effective immediately upon publication of PMB 66 (September 2026). Source: https://www.fca.org.uk/publication/primary-market-bulletin/pmb66.pdf – Primary Market Bulletin 66 (PMB).Corporate Finance30 September 2026
- News & SpeechesFCA opens the gateway to regulated cryptoWhat changed – From 25 Oct 2027 the UK will bring all crypto‑asset firms operating in the country under full FCA regulation. The new regime introduces mandatory standards on consumer protection, safeguarding of client assets, market integrity and financial resilience, and replaces the previous “light‑touch” approach. Who is affected – Any crypto‑asset business that wishes to continue offering regulated services in the UK – including exchanges, custodians, wallet providers, DeFi platforms and token‑issuers – must seek FCA authorisation. Existing firms that do not apply will lose the right to provide regulated crypto services. Actions to consider (process steps only) 1. Assess eligibility – Review the FCA’s final crypto rules (June 2026) to confirm the firm meets the four standards. 2. Engage early – Request a pre‑application support meeting and attend FCA webinars (on‑demand). 3. Prepare documentation – Compile governance, risk, AML, capital and consumer‑protection evidence required for the application. 4. Submit application – File the authorisation request by 28 Feb 2027 via the FCA’s online portal. 5. Maintain operations – Continue providing crypto services while the application is under review; monitor for any FCA decision before the regime starts. Key deadlines – Application deadline: 28 Feb 2027. New regulatory regime starts: 25 Oct 2027. Source – FCA RSS feed, “FCA opens the gateway to regulated crypto”, FCA regulatory news.30 September 2026 · deadline 28 Feb
- Handbook UpdateFG26/10: Non-Handbook Guidance on CRYPTOPRU 7: Overall risk assessment for CRYPTOPRU firmsWhat changed – The FCA has issued non‑handbook guidance FG26/10 on “Overall risk assessment for CRYPTOPRU firms”. It details how crypto‑asset firms must identify risks, run stress‑tests, plan recovery actions and prepare wind‑down to meet the prudential requirements of CRYPTOPRU 7. The guidance supersedes earlier drafts (GC26/5) and adds examples on de‑banking and legal risk. Who is affected – All crypto‑asset firms regulated under CRYPTOPRU – custodians, custodial‑staking providers, stable‑coin issuers – and the risk, compliance and prudential teams responsible for the firm‑wide risk assessment. New entrants to financial regulation and advisers supporting these firms are also in scope. Actions to consider (process steps only) 1. Review FG26/10 (PDF) and map its risk‑identification, stress‑testing, recovery‑action and wind‑down requirements against your current risk‑assessment framework. 2. Update internal policies and templates to incorporate the new examples (de‑banking, legal risk). 3. Conduct a full firm‑wide risk assessment using the guidance’s methodology and document the outcomes. 4. Align the assessment with the FCA’s PS26/12 prudential rules and the existing Wind‑down Planning Guide. 5. Submit the completed assessment to the FCA as part of your regular prudential reporting. Deadline – The guidance becomes effective on 25 October 2027; firms should have their updated risk‑assessment process in place before that date. Source – FCA Handbook, Document FG26/10 (Non‑Handbook Guidance). URL: https://www.fca.org.uk/publication/fg/fg26-10.pdf.PaymentsBanking30 September 2026
- Handbook UpdateFG26/9: Non-Handbook Guidance on COREPRU 7: Overall risk assessmentWhat changed – The FCA issued non‑handbook guidance (FG26/9) on how firms should carry out the “overall risk assessment” required by COREPRU 7. The guidance clarifies how to link business model, risk appetite, financial‑resource planning and wind‑down planning into a single, proportionate process. It supersedes earlier draft consultation (GC26/4) and adds clearer baseline and cash‑flow expectations. Who is affected – All FCA solo‑regulated firms that fall under the Core Prudential sourcebook (COREPRU), including crypto‑asset service providers. The guidance is aimed at compliance, risk and prudential teams responsible for the assessment, as well as firms preparing for authorisation. Actions to consider (process steps only) 1. Review FG26/9 in full and map its requirements against your current overall risk‑assessment methodology. 2. Update internal templates to incorporate the linked business‑model, risk‑appetite, financial‑resource and wind‑down elements. 3. Align the assessment with the baseline and cumulative cash‑flow criteria outlined in the guidance. 4. Document the changes and ensure the updated assessment is ready for inclusion in the next SREP review. Deadline – The guidance becomes effective on 25 October 2027. No immediate response is required, but firms should have the revised assessment process in place before that date to demonstrate compliance during supervisory reviews. Source – FCA Handbook, FG26/9 – Non‑Handbook Guidance on COREPRU 7 (PDF).30 September 2026
- Policy StatementPriorityPS26/19: Aligning listed issuers' sustainability disclosures with international standardsWhat changed – The FCA has issued PS 26/19, replacing the 2021 climate‑reporting rules for listed issuers with a new “comply‑or‑explain” regime that requires reporting against the UK Sustainability Reporting Standards (UK SRS), which are the UK‑endorsed version of the International Sustainability Standards Board (ISSB) standards. A Technical Note on applying the comply‑or‑explain approach is being consulted. Who is affected – All companies with shares listed in the UK (commercial, transition, non‑equity or non‑voting equity, secondary listings, and depositary receipts). Key actions to consider 1. Map current disclosures to the UK SRS framework and identify any gaps. 2. Determine explain‑or‑comply status for each requirement and draft explanations where needed. 3. Plan for transitional reliefs – 1 year extra for Scope 3 emissions and 2 years extra for broader UK SRS S1 disclosures. 4. Submit feedback on the Technical Note by 28 Oct 2026. 5. Prepare for first reporting – ensure the accounting period beginning ≥ 1 Jan 2027 is ready for reporting in 2028. Deadlines Technical Note feedback: 28 Oct 2026 Webinar on new rules: 19 Oct 2026 New rules take effect for periods starting 1 Jan 2027 (first report due 2028). Source – FCA Policy Statement PS 26/19 (PDF).PaymentsBankingCorporate Finance30 September 2026 · deadline 28 Oct
- News & SpeechesPowering open finance infrastructureWhat changed A new research report “Powering open finance infrastructure” has been published, outlining three reference architectures (centralised, decentralised/federated, hybrid) for a UK‑wide open‑finance data‑sharing ecosystem and identifying the technical standards, API security, accreditation, consent, monitoring and revocation mechanisms needed to make the system trustworthy and scalable. Who’s affected All UK‑based firms that will exchange or consume financial‑product data under the forthcoming open‑finance regime – including banks, insurers, wealth‑managers, fintechs, data‑aggregators and third‑party AI service providers – as well as any technology vendors supplying APIs, identity‑verification or monitoring solutions. Actions to consider (process steps only) 1. Map current data‑sharing capabilities against the report’s listed foundations (technical standards, secure APIs, accreditation, consent, monitoring, revocation). 2. Identify gaps in your organisation’s API security, identity‑management and consent‑capture processes. 3. Develop a remediation plan to adopt the recommended standards (e.g., ISO 20022‑based APIs, accredited identity schemes). 4. Engage with industry bodies (e.g., Open Banking Implementation Entity, FCA‑approved standards groups) to align on the chosen infrastructure model (centralised, decentralised or hybrid). 5. Pilot test at least one reference architecture in a sandbox environment to gather evidence for future regulatory decisions. Deadline No formal regulatory deadline yet; however, firms should begin the mapping and gap‑analysis phase within the next 12 months to be ready for any future FCA‑mandated open‑finance requirements. Source URL: https://www.fca.org.uk/news/rss/powering-open-finance-infrastructure Document type: RSS (research summary)PaymentsConsumer CreditBanking29 September 2026
- News & SpeechesFCA secures bankruptcy order against Arthur TemlettWhat changed – The FCA obtained a court‑ordered bankruptcy (sequestration) against Arthur Temlett, trading as Abacus Insurance Consultants. The Sheriff granted the order on 27 August 2026 and appointed Emma Porter of Aver Chartered Accountants as trustee to assess his assets and distribute any recoveries to creditors. Who’s affected – Arthur Temlett (the individual) and his firm Abacus Insurance Consultants; any creditors of the firm; and the broader market of insurance‑broker customers who may have been exposed to non‑payment of premiums. Actions to consider (process steps only) 1. Review client and supplier records to identify any transactions with Abacus Insurance Consultants. 2. Flag any outstanding premiums or claims that may be impacted and suspend further payments pending trustee confirmation. 3. Notify affected customers and advise them to retain documentation of premium payments. 4. Submit verified creditor claims to the appointed trustee, Emma Porter, within the statutory period. 5. Update compliance monitoring systems to reflect the FCA’s 21 January 2025 prohibition on Temlett’s regulated activities. Deadlines – Creditors must lodge claims with the trustee as soon as practicable; the FCA’s prohibition remains in force indefinitely unless lifted. Source – FCA RSS feed, “FCA secures bankruptcy order against Arthur Temlett.” Document type – RSS.PaymentsConsumer CreditInsurance28 September 2026
- News & SpeechesFCA secures money back for victims of crypto fraudWhat changed – The FCA obtained confiscation orders under the Proceeds of Crime Act 2002 against Raymondip Bedi (£603,404.28) and Patrick Mavanga (£247,997.99) for a £1.5 m crypto‑investment fraud. The orders mean the recovered sums must be returned to the 65 identified victims. Who’s affected – The 65 investors who lost a total of £1,541,799 between February 2017 and June 2019. The orders also affect the two offenders, who face additional custodial penalties if they do not pay within the statutory period. Actions to consider (process steps only) 1. Verify victim status – Cross‑check your client list against the FCA’s victim contact list. 2. Notify affected clients – Inform them that a confiscation order has been issued and that funds will be returned. 3. Collect documentation – Gather proof of loss (investment statements, communications) to facilitate reimbursement. 4. Monitor payment timeline – Ensure the offenders’ payments are made within the 3‑month deadline; flag any non‑payment for escalation. 5. Update compliance records – Record the restitution in AML/CTF registers and report the outcome to senior management. Deadline – Offenders must satisfy the confiscation orders within 3 months of the court order (by early December 2026); failure may trigger up to 5 years (Bedi) or 2 years (Mavanga) additional imprisonment. Source – FCA RSS feed, “FCA secures money back for victims of crypto fraud.”28 September 2026
- News & SpeechesInterestMe Financial Planning Limited (IMFP) and the appointed representative InterestMe Advisers Limited (IMA) enter administrationWhat changed – On 24 September 2026 InterestMe Financial Planning Ltd (IMFP) and its appointed representative InterestMe Advisers Ltd (IMA) were placed into administration. Joint administrators (Robert Goodhew & Geoff Bouchier of Kroll Advisory Ltd) now control all regulated activities, including financial‑planning, pension, mortgage and investment advice previously carried out by the two firms. Who is affected – Current and prospective customers of IMFP/IMA, any investors or borrowers who have existing advice or products arranged through the firms, and any complainants with unresolved issues. The firms’ FCA authorisation remains in place but is now subject to the administrators’ oversight. Actions to consider (process steps only) 1. Contact the administrators – use the contact details published on the FCA’s “Administration notice” page to confirm the status of your account or advice. 2. Review your holdings – obtain a statement of assets, liabilities and any pending transactions from the administrators. 3. Raise concerns – if you suspect fraud or have questions about investments, direct them to the administrators; do not respond to unsolicited contacts claiming to act for the firms. 4. Make a complaint – submit any formal complaints to the administrators within the administration period; the FCA will continue to oversee the process. 5. Monitor communications – watch for official updates from the FCA and Kroll Advisory; beware of impersonators. Key deadlines – All enquiries and complaints should be lodged as soon as possible, preferably within 30 days of the administration notice (i.e., by 24 October 2026), to ensure they are recorded in the administrators’ records. Source – FCA RSS feed: “InterestMe Financial Planning Limited (IMFP) and the appointed representative InterestMe Advisers Limited (IMA) enter administration” (RSS document).Consumer CreditMortgages28 September 2026
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- News & SpeechesITI Capital Ltd enters special administrationWhat changed – On 25 September 2026 ITI Capital Ltd was placed into special administration. The FCA‑authorised broker ceased most regulated activities on 10 August 2025 and stopped accepting new client money or custody assets. Special administrators Duncan Perring and David Soden (Teneo Financial Advisory Ltd) have now taken control of the firm’s affairs. Who’s affected – All current and former ITI Capital clients (retail and professional) who hold share, bond or cash investments, as well as any third‑party service providers (custodians, fund managers, technology platforms) linked to ITI Capital’s operations. FCA‑regulated firms that have transferred or intend to transfer client assets to/from ITI Capital must also review their arrangements. Actions to consider (process steps only) 1. Identify all client accounts and assets held with ITI Capital. 2. Notify affected clients of the administration and confirm the status of their holdings. 3. Review any contractual obligations or service agreements with ITI Capital for termination or amendment. 4. Coordinate with the appointed administrators to confirm the handling of client money and custody assets. 5. Update internal risk registers and AML/KYC files to reflect the change in status. 6. Communicate with the FCA (via the FCA’s online portal) if you are a regulated firm holding client assets transferred from ITI Capital. Key deadlines – No formal FCA deadline has been set for asset recovery, but firms should commence the identification and notification steps immediately and aim to complete initial client outreach within 30 days of the 25 September 2026 administration notice. Source – FCA RSS feed, “ITI Capital Ltd enters special administration” (Document Type: RSS).25 September 2026
- News & SpeechesTwenty-four CFD firms closing in crackdown on misuse of UK authorisationWhat changed – Since the start of 2025 the FCA has forced 21 CFD (Contracts‑for‑Differences) firms to close and is in the process of cancelling the authorisations of three further firms for using UK authorisation to mislead consumers about the source of their services. Who is affected – The firms that have ceased trading or are losing their FCA permission, their UK‑based customers, and any overseas entities that were presenting themselves as UK‑regulated through the same branding. Actions to consider (process steps only) 1. Verify authorisation – Use the FCA Firm Checker to confirm that any CFD provider you deal with holds a current UK authorisation. 2. Review client communications – Ensure marketing, website and onboarding materials clearly state whether the firm is UK‑regulated or offshore. 3. Update risk disclosures – Reinforce that CFDs are complex, highly leveraged products and that UK consumer protections only apply when the firm is FCA‑authorised. 4. Conduct internal audit – Check that any linked overseas subsidiaries are not being presented as UK‑regulated; if they are, re‑brand or remove the reference. Deadline – Firms currently under review must address FCA concerns and implement corrective measures by the FCA’s stipulated enforcement timetable (typically within 30 days of notice). Source – FCA RSS feed, “Twenty‑four CFD firms closing in crackdown on misuse of UK authorisation.” Document type – RSS.Consumer Credit25 September 2026
- Data ReleaseRetirement income market data 2025/26What changed The latest retirement‑income market data (April 2025 – March 2026) show a 7.4% rise in first‑time pension accesses (1.05 m plans) and a 10.5% rise in drawdown entries (401 k plans). Annuity purchases jumped 13.2% to 100 k, while full encashments fell to 45.8% of accesses. Total value withdrawn rose 21.7% to £91.2 bn, with high‑value pots (≥ £250 k) increasing to 8.6% of accesses. Regulated advice usage remained steady at ~30.5% of first‑time accesses. Who is affected All regulated firms that provide retirement‑income products (pension providers, annuity houses, advice firms, and platform operators). Compliance, product, and data‑reporting teams that must reflect the new market trends in risk assessments, product suitability reviews, and consumer‑outcome reporting. Actions to consider (process steps only) 1. Data validation – Re‑run internal reporting against the FCA’s published tables (tables 19‑20) to confirm alignment with the new figures. 2. Risk & product review – Update product‑governance assessments to reflect higher drawdown and annuity uptake and lower full encashment rates. 3. Advice monitoring – Verify that advice‑capture systems still meet the ~30% advice utilisation benchmark and flag any deviation. 4. Consumer outcome testing – Re‑calculate suitability and affordability tests using the increased average withdrawal values (£91.2 bn total). 5. Reporting updates – Amend periodic regulatory returns (e.g., RIR‑R) to incorporate the latest market‑trend metrics. Key deadline All internal data and reporting updates should be completed by 31 October 2026 to align with the FCA’s annual data‑release schedule and allow sufficient time for Q4 regulatory filings. Source FCA – Retirement income market data 2025/26 (Data) – https://www.fca.org.uk/publications/data/retirement-income-market-data-2025-24 September 2026
- News & SpeechesRetirement income market interactive analysis 2025/26What changed? The FCA has published a new RSS feed – Retirement income market interactive analysis 2025/26 – providing live Tableau dashboards that visualise retirement‑income market activity from 1 Sept 2021 to 31 Mar 2026. The feed adds no regulatory requirements; it is a data‑presentation tool. Who is affected? All market participants who monitor retirement‑income trends – pension scheme administrators, annuity and draw‑down providers, advisers, and compliance teams – can use the dashboards to benchmark activity and inform internal reporting. Actions to consider (process steps only) 1. Access the RSS feed – subscribe via the FCA website or RSS reader. 2. Review the dashboards – navigate the three main views (Overview, Pot size & age, Drawdown) and use the “Select data or graphs” filter to set date ranges. 3. Download underlying data – click the “Download” link to obtain the Excel (xlsx) files for deeper analysis. 4. Integrate insights – map the metrics (e.g., first‑time pot accesses, partial withdrawals, advice usage, DB‑to‑DC transfers) against your firm’s KPI framework. 5. Document usage – record the source and date of any data extracted for audit trails. Deadlines No compliance deadline applies; the dashboards are updated on an ongoing basis. Treat each data release as the latest snapshot for reporting periods. Source URL: [FCA – Retirement income market interactive analysis 2025/26] (RSS feed) Document type: RSS (interactive Tableau dashboards).24 September 2026
- News & SpeechesBuilding the next generation of market infrastructureWhat changed – The FCA announced that HSBC Orion has become the first firm approved to operate a live Digital Securities Depository (DSD) service, marking the UK’s inaugural regulatory approval for a digital‑securities settlement platform. Who’s affected – Firms planning to issue, hold or settle tokenised securities in the UK (e.g., asset managers, issuers, custodians, brokers). Technology providers developing DLT‑based settlement solutions. Market participants that rely on traditional central securities depositories for liquidity and capital‑formation activities. Actions to consider (process steps only) 1. Map existing securities workflows to identify points where a DSD could replace or complement current depository functions. 2. Assess FCA DSD regulatory requirements (e.g., capital, governance, AML/CTF, risk‑management) and compare them with internal policies. 3. Engage with the FCA or a recognised DSD (e.g., HSBC Orion) to confirm eligibility and obtain any necessary authorisations or licences. 4. Update operational and IT controls to accommodate token‑based settlement, including data‑integrity, audit‑trail, and cyber‑security measures. 5. Train relevant staff on DSD processes, reporting obligations, and client communication. Deadline – The FCA expects firms to demonstrate readiness for DSD integration before any live deployment; no formal statutory deadline has been set, but early engagement is advised to meet potential future market‑wide rollout timelines. Source – https://www.fca.org.uk/speeches/building-next-generation-market-infrastructure (RSS) – FCA Chief Executive speech.PaymentsBankingCorporate Finance23 September 2026
- News & SpeechesFirms crack down on money mules but need to do moreWhat changed – A recent FCA‑led survey shows firms have sharply increased closures of suspected money‑mule accounts, reaching 238,396 in 2025 (up from 184,935 in 2023). The data also reveal that criminals now move illicit funds through 2‑5 linked accounts before cash‑out, making detection harder. Who’s affected – Retail banks, building societies and challenger banks (35 firms surveyed) must tighten controls. The most affected customer groups are ages 26‑39 (91,073 closures) and 40‑49 (37,274 closures), with a sizable share of accounts under 25 (85,425). Actions to consider (process steps only) 1. Review and tighten AML transaction‑monitoring rules to flag rapid transfers across 2‑5 accounts. 2. Enhance early‑stage detection of mule‑type behaviour (e.g., unusual inbound transfers from unknown sources). 3. Implement or upgrade intelligence‑sharing protocols with law‑enforcement, NCA and the National Economic Crime Centre. 4. Train staff to recognise recruitment attempts (e.g., unsolicited online offers to “funnel money”). 5. Document and report suspected mule activity under the FCA’s AML reporting obligations. Deadlines – Firms are expected to embed the FCA’s action‑plan recommendations as part of the nine‑priority system response; no formal statutory deadline has been set, but prompt implementation is urged to align with the FCA’s 2025‑2026 economic‑crime strategy. Source – FCA RSS feed, “Firms crack down on money mules but need to do more”, FCA document type: RSS.PaymentsConsumer CreditBanking23 September 2026
- News & SpeechesMoney mules: mule activity and cashing out findingsWhat changed The FCA’s latest RSS review (published 23 May 2024) identifies a rise in “money‑mule” schemes, noting that fraudsters are increasingly using third‑party individuals to receive and forward illicit funds. The report highlights new typologies – e‑commerce platforms, gig‑economy apps and social‑media‑based “cash‑out” services – that were less prominent in earlier assessments. Who’s affected SMEs that operate online marketplaces, gig‑economy platforms, or provide payment‑processing services. Financial‑service providers (payment institutions, e‑money issuers, crypto‑asset firms) that on‑board customers who may be used as mules. Compliance and AML teams responsible for monitoring transaction flows and customer behaviour. Actions to consider (process steps only) 1. Update risk‑assessment – incorporate the newly identified mule typologies and channels. 2. Enhance due‑diligence – add checks for rapid, high‑volume inbound/outbound transfers and for customers linked to “cash‑out” services. 3. Screen communications – monitor email, SMS and social‑media interactions for signs of mule recruitment. 4. Train staff – brief front‑office and onboarding teams on the latest mule indicators. 5. Report suspicious activity – ensure SARs are filed promptly when mule‑related patterns are detected. Deadline Implement the above enhancements by 31 December 2024 to align with FCA expectations and mitigate regulatory risk. Source FCA RSS – “Money mules: mule activity and cashing out findings” (23 May 2024). https://www.fca.org.uk/news/rss/money-mules‑activity‑cashing‑out‑findings (RSS)23 September 2026
- News & SpeechesDebt advice warning: spot the red flagsPeople seeking debt advice are being urged to watch out for red flags. Free debt advice is available to everyone. However, the FCA is concerned that some consumers are being steered towards fee-paying debt solutions that may not be suitable for their needs, sometimes through high pressure sales tactics, misleading information or being advised by firms that do not have the appropriate permissions.Red flags include:Pressure tactics: Feeling hassled, or repeatedly contacted, particularly after an online enquiry or unexpected phone call, and being pressured to agree to a debt solution quickly over the phone or via WhatsApp, without time to properly consider their options.Changing details: Being asked or encouraged to change details about income or outgoings on an application or assessment form, or being 'coached' to say certain things.Failing to disclose, or discouraging, fee-free alternatives: Being steered towards a fee-charging debt solution, such as Individual Voluntary Arrangements (IVAs) or some debt...Consumer Credit22 September 2026
- News & SpeechesFCA takes Hunter Jones to High Court over alleged unauthorised activityThe FCA has begun High Court proceedings against Osborne Baldwin Limited, which trades as Hunter Jones and Hunter Jones Group. The FCA alleges that Hunter Jones, which sells loan notes, carries out regulated activity without authorisation. The FCA is asking the court to stop Hunter Jones carrying out regulated activity and require money to be returned to investors.The proceedings are at an early stage. The court has not yet determined the claim and no trial date has been set.Consumers who deal with unauthorised firms are at greater risk and may lose access to important protections if things go wrong. The FCA strongly encourages consumers to use its Firm Checker.Anyone who has invested through Hunter Jones and is concerned about what this means for them, or has information to share with the FCA, should contact AvillConsumers@fca.org.uk.The FCA will provide more information for investors when it is able to do so.Consumer Credit21 September 2026
- News & SpeechesFCA and partners join forces to help improve financial security for millionsThe FCA is partnering across sectors to expand protection insurance coverage for millions of unprotected people. While the market is working well for consumers who have protection insurance, millions of people remain unprotected.Around 58% of adults have no life insurance, critical illness cover or income protection – and 59% of that group has never considered it. This means that millions could be left vulnerable in the event of a death in the family, serious illness or loss of income.To help more people consider whether protection insurance is right for them, the FCA will join forces with partners from industry, government and consumer groups. Actions include:The Money and Pensions Service and the Digital Property Market Steering Group will prompt people to think about protection at key moments - such as becoming a parent or buying or renting a home. The FCA is also exploring how other partners can help put protection...PaymentsInsuranceMortgages21 September 2026
- News & SpeechesVideo18 September 2026
- News & SpeechesInfographics18 September 2026
- News & SpeechesImages18 September 2026
- News & SpeechesBuilding a stronger UK investment cultureSpeech by Lucy Castledine, director of consumer investments, at the 2026 Investor Summit. Speaker: Lucy Castledine, director, consumer investmentsEvent: Investor Summit 2026, LondonDelivered: 18 September 2026Note: This is the speech as drafted and may differ from the delivered versionReading time: 7 minutesKey points:How the FCA is supporting growth, innovation and wider access to investments.Why a wider range of support and clearer, simpler information is vital to helping people invest with confidence.How stronger action against scams and illegal promotions can build trust in markets.18 September 2026
- News & SpeechesFinancial crime: protecting the hiveSpeech by Steve Smart, executive director of enforcement and market oversight, at the Law Society Economic Crime Conference 2026. IntroductionA few weeks ago, I visited the Bank of England Museum to see a new exhibition on financial crime. I had expected banknotes and gold bars – not bees.Rather than bullion, I saw a working beehive and learnt how colonies defend themselves by reading signals, sharing information and taking collective action.Every bee gets checked at the door. If something’s off, the colony responds – together, and quickly.That same instinct and partnership are what we need to fight financial crime.The criminals we’re up against don’t present themselves for checking, and the system we’re protecting is much larger than a hive.And with the threat of financial crime getting worse, the stakes are higher than ever.Fraud accounted for nearly half of all crime in England and Wales last year, and estimates suggest that over...Banking17 September 2026
- News & SpeechesFCA and partners continues crackdown on illegal crypto tradingThe FCA and partners have taken further action against illegal peer-to-peer crypto trading in London. The FCA has carried out further operations with partners to disrupt illegal peer-to-peer crypto trading across multiple London locations.Working with HM Revenue & Customs (HMRC) and the Metropolitan Police Service, the FCA targeted 3 premises suspected of illegal peer-to-peer crypto trading.Cease and desist letters were issued at all 3 premises, requiring traders to stop any suspected illegal crypto businesses.Peer-to-peer trading is when individuals buy and sell crypto directly with each other. Anyone doing this by way of business in the UK requires appropriate registration. There are currently no FCA registered peer-to-peer crypto businesses operating in the UK.Unregistered peer-to-peer crypto traders operating by way of business in the UK can provide a route for criminals to move and launder illicit funds. By operating outside the FCA’s registration regime, they avoid controls designed to detect and prevent...Payments17 September 2026
- News & SpeechesFCA sets out steps to support small businesses' access to financeSmall and medium-sized enterprises (SMEs) could access finance more easily after the FCA sets out practical steps to help. An FCA review found no evidence that its regulation is a major barrier for SME access to finance. Many of the challenges identified relate to wider market, information and capability challenges.The review found that the challenges are often greatest for microbusinesses, which make up 95.5% of all SMEs and are less likely to use external finance. Limited awareness of finance options, complex application processes, duplicated checks, and difficulties accessing products suited to businesses with limited collateral or largely intangible assets were all highlighted as issues.As part of its commitment to supporting growth, the FCA is focusing its next steps in three areas to help reduce friction:Supporting a more proportionate regulatory regime through Consumer Credit Act reform.Helping unlock the benefits of open finance, including prioritising SME lending as a key use case.Monitoring...PaymentsConsumer Credit17 September 2026
- News & SpeechesFS26/2: Supporting SME access to financeOur review finds FCA regulation is not a major barrier to SME finance, but highlights frictions we and others can help address. ... Read the Feedback Statement (PDF)Why we asked for feedbackSmall and medium-sized enterprises (SMEs) – businesses with fewer than 250 employees and an annual turnover under £44m – account for 60% of employment and 51% of turnover in the UK private sector. Their ability to access finance is, therefore, important for economic growth. Yet only 21% of the total value of UK business loans are provided to SMEs and 54% of SMEs are not using external finance in any capacity.Supporting SME access to finance aligns with our 2025 to 2030 strategy, including our commitment to support growth it is a key area of the Government’s growth mission. We therefore asked stakeholders whether our regulation creates significant barriers to SME access to finance and whether there may be opportunities...PaymentsConsumer CreditMortgages17 September 2026
- News & SpeechesPayments firms: delivering good outcomes for consumers in vulnerable circumstancesRead our findings on good practice and areas for improvement in payments firms’ approaches to supporting consumers in vulnerable circumstances. ... The Consumer Duty (the Duty) sets a high standard for retail consumer protection. We reviewed a sample of payments firms to assess how they are supporting consumers in vulnerable circumstances and whether they are delivering good outcomes. We found many examples of positive practice but also opportunities for firms to strengthen how they identify vulnerability, monitor outcomes and improve support.The examples we outline below are intended to help firms learn from the experiences of others. This publication sets out our findings and highlights practices which can help firms to meet their obligations under the Duty and support customers in vulnerable circumstances. What firms should do nowFirms should consider these findings when assessing whether their own approaches are effective. This publication does not introduce new requirements or prescribe a particular...17 September 2026
- News & SpeechesFCA opens investigation into Euro Exchange Securities UK LtdWe are investigating potential offences by Euro Exchange Securities UK Ltd (EES). The reason for opening the investigation is that it appears to us that, between 1 February 2020 and 4 June 2026, EES may have committed offences under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs).EES may have failed to take appropriate steps to identify and assess the risks of money laundering, including in relation to its customers, the countries or geographic areas where it operated, its services, its transactions and delivery channels, and sufficiently document and update that assessment.It may also have failed to establish and maintain policies, controls and procedures to mitigate and manage effectively the risks of money laundering identified in the risk assessment (as above), including in relation to:customer due diligenceongoing monitoring controls internal governance and oversightresourcing and allocation of responsibilitiesrecord-keeping and escalation/reporting mechanismsWe have not...PaymentsConsumer Credit17 September 2026
- News & SpeechesBetter outcomes begin when payment firms understand customers’ needsDuring our review of consumer vulnerability, we saw how relatively simple changes can make a real difference. One payments provider serving small business customers found that some customers were struggling to set up and manage their accounts because of limited IT literacy.The firm responded by arranging callback support to help customers set up their accounts. As a result, customers were able to manage their accounts successfully, without needing to invest in expensive new systems or roll out elaborate new processes.17 September 2026
- News & SpeechesFCA opens investigation into Euro Exchange Securities UK LtdWe are investigating potential offences by Euro Exchange Securities UK Ltd (EES). The reason for opening the investigation is that it appears to us that, between 1 February 2020 and 4 June 2026, EES may have committed offences under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs).EES may have failed to take appropriate steps to identify and assess the risks of money laundering, including in relation to its customers, the countries or geographic areas where it operated, its services, its transactions and delivery channels, and sufficiently document and update that assessment.It may also have failed to establish and maintain policies, controls and procedures to mitigate and manage effectively the risks of money laundering identified in the risk assessment (as above), including in relation to:customer due diligenceongoing monitoring controls internal governance and oversightresourcing and allocation of responsibilitiesrecord-keeping and escalation/reporting mechanismsWe have not...PaymentsConsumer Credit16 September 2026
- News & SpeechesCrypto firms get guidance on how the new regime appliesNew FCA guidance will help firms understand how the law underpinning the UK's future cryptoasset regime applies to their business. It also sets out which activities may require FCA authorisation. The regime comes into force on 25 October 2027. With applications for authorisation opening from 30 September 2026, firms need this guidance now to help them prepare. The guidance covers activities including issuing qualifying stablecoins, operating cryptoasset trading platforms, dealing and arranging deals, safeguarding cryptoassets and arranging cryptoasset staking.David Geale, executive director of consumers, payments and competition at the FCA, said: 'We are building a crypto regime that firms, consumers and international partners can trust. Getting ready for regulation starts with understanding how the regime applies to your business. This guidance gives firms the clarity they’ve asked for so they can prepare with confidence.'This guidance follows the FCA's extensive work to prepare for the new regime, including finalising its rules...Banking16 September 2026
- Policy StatementHigh impactPS26/18: Cryptoasset perimeter guidanceWe have published final guidance on when cryptoasset activities need FCA authorisation. ... Read PS26/18 (PDF)Why we are changingFrom 25 October 2027, the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (the Cryptoasset Regulations) will introduce new regulated activities for cryptoassets into our perimeter. Anyone wishing to carry on these activities by way of business in the UK will need to apply for authorisation, unless there is a relevant exemption or they are able to use the savings or transitional run off provisions.Our guidance aims to help firms understand our regulatory perimeter and when authorisation may be required for cryptoasset activities. Who this is for This is relevant to: firms carrying out, or planning to carry out, regulated cryptoasset activities in the UK, such as safeguarding cryptoassets, operating a trading platform, or arranging deals or staking firms already authorised that may need extra permissions firms registered under the Money...PaymentsInvestmentBanking16 September 2026
- News & SpeechesFinancial regulator bans former law firm owner from financial servicesThe FCA has banned Nurul Miah, also known as Neil Mia and Neil Miah, from working in financial services. The FCA acted after the Solicitors Regulation Authority (SRA) found that Mr Miah, who was a non-legal manager at Kingly Solicitors Limited, dishonestly caused or allowed more than £28m of client money to be taken from client accounts without permission between April 2019 and July 2020.The SRA also found that more than £10m of client money was missing and had been used by Mr Miah for his own benefit.Mr Miah was approved by the FCA in 2016 to work in senior management roles at an unconnected firm, Oracle Consultants Ltd.The FCA has concluded that Mr Miah’s actions showed he lacked the honesty and integrity needed to work in financial services.Therese Chambers, executive director of enforcement and market oversight, said:'Mr Miah dishonestly used client money for his own benefit. He has no...Consumer Credit15 September 2026
- News & SpeechesPremier Payment Solutions Ltd enters liquidationOn 10 September 2026, Premier Payment Solutions Ltd, which traded as PPS Money and MTBS (together, 'PPS Money'), entered liquidation. Bai Cham and Gary Shankland of BTG Begbies Traynor were appointed joint liquidators. PPS Money is registered as a small payment institution under the Payment Services Regulations 2017 (the PSRs). The firm provided money-remittance services, primarily supporting money service businesses to make cross-border payments, including through its network of FCA-registered agents, which are businesses or individuals registered to provide payment services on its behalf. See a list of PPS Money’s current and former agents.PPS entered liquidation after the directors determined that the firm could no longer continue trading. The joint liquidators are responsible for assessing customer claims against the firm and distributing funds back to customers where possible.If you have any questions regarding the liquidation process, please contact: premier.ps@btguk.com.We will continue to engage with the joint liquidators and take any...Payments14 September 2026
- News & SpeechesUpper Tribunal upholds Crispin Odey banCrispin Odey’s ban from the financial services industry has been upheld by the Upper Tribunal, which found he lacked integrity. Mr Odey was the founder and majority owner of Odey Asset Management (OAM). He faced an internal disciplinary process for breaching a final written warning relating to repeated and persistent inappropriate behaviour towards female employees.In response, Mr Odey bullied and threatened his executive directors. He then twice dismissed OAM’s executive committee (ExCo) when they did not give in to his improper pressure. Mr Odey was only willing to answer to a governing body that would make a decision he agreed with, which was not to sack him. By removing them, he brought the internal disciplinary process to a halt.Mr Odey’s only purpose was self-preservation and to avoid being held to account for his behaviour. He abused his power and disregarded the impact that his actions had on the firm and...14 September 2026
- News & SpeechesCall for Input: Tokenised gold – opportunities and risk for UK wholesale marketsWe’re seeking views on whether tokenising gold could improve how it is traded, transferred, pledged and held in UK markets. ... Read the Call for Input (PDF)Why we are consultingTokenisation means creating digital tokens that represent ownership of physical gold, which can then be transferred electronically. There is an opportunity for the UK to lead on the next generation of gold-market infrastructure in an innovative, responsible and risk-aware way.We want to understand whether tokenising gold could boost efficiency and competitiveness, while maintaining market integrity and protecting consumers.We’re particularly interested in understanding:use cases in wholesale marketsspecific areas which may prove challengingthe impact of perceived uncertainty around the collective investment scheme (CIS) and alternative investment fund (AIF) regulatory perimeter ... Who this is forGold market participants, including clearing members.Firms developing or considering tokenised gold products.Asset managers and firms operating gold CISs or AIFs.Technology and infrastructure providers working on digital asset platforms.Consumer groups...PaymentsBanking14 September 2026 · deadline 23 Oct
- News & SpeechesFS26/1: Tokenisation in wholesale marketsWe asked for views on tokenisation in wholesale markets. Read what we heard from industry and our next steps, including a new roadmap. ... Read the Feedback Statement (PDF)Why we are consulting In May 2026, we and the Bank of England published a joint Call for Input on the future of tokenisation. We wanted to understand industry views on the benefits, priorities and barriers for tokenised securities in UK wholesale markets, so we can give firms the regulatory clarity they need to invest and scale up. We received 123 responses, including from industry bodies, firms and legal academics.Respondents supported our proposed approach. Most agreed that post-trade is the main opportunity, particularly improving how collateral moves between parties.This feedback will help us build a practical roadmap to support safe and effective adoption.Who this is forThis publication is relevant to:banks, investment firms and asset managersfinancial market infrastructure providers, such as central securities...PaymentsInvestmentBanking14 September 2026
- ConsultationHigh impactCP26/33: Consultation on minor General Insurance value measures changes and post-implementation review of the value measures rulesWe've reviewed our value measures rules for general insurance and are consulting on 2 minor changes to reduce reporting burden on firms. ... Read CP26/33 (PDF) Why we are consulting We've completed a post-implementation review of our general insurance value measures rules, first introduced in 2021. The review found the rules have improved transparency and helped firms meet fair value requirements, but reporting inconsistencies make the data harder to use and compare. We're now consulting on 2 minor changes to reduce the reporting burden on firms, ahead of a wider consultation on the rules expected in the first half of 2027.Who this is forThis applies to general insurance firms that report value measures data, including insurers, intermediaries and managing agents. It's also relevant to other stakeholders such as trade bodies, consumer organisations, research companies and price comparison websites.Next stepsOnline response form We're asking for comments on our proposals by 9...Insurance11 September 2026 · deadline 9 Oct
- News & SpeechesMan pleads guilty to fraud and forgery offences relating to fake takeover approachChristopher Woolcott has pleaded guilty to 4 counts of fraud and forgery after creating a fake takeover bid for Touchstone Exploration Inc. Mr Woolcott held shares in Touchstone Exploration Inc and stood to benefit financially from any upward movement in the share price had the fake takeover bid been announced to the market.Mr Woolcott admitted creating a fictitious takeover approach for Touchstone Exploration Inc using multiple false identities and forged documents, in an attempt to lend credibility to the approach.He will be sentenced at a later date.Steve Smart, executive director of enforcement and market oversight at the FCA, said:'Fake bids, forged documents and false identities have no place in our markets.'Investors must be able to trust information that affects share prices. The FCA will take action against those who use deception and threaten that trust.’Tackling market abuse and financial crime is a priority under the FCA's 5-year strategy.Notes to editorsChristopher...InvestmentCorporate Finance10 September 2026