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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 121–160 of 561.
- Data ReleaseCommentary on Mortgage lending statistics Q2 2026The FCA and the Prudential Regulatory Authority (PRA) both have responsibility for the regulation of mortgage lenders and administrators. We jointly publish the mortgage lending statistics every quarter. ... Since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities.Key findingsThe outstanding value of all residential mortgage loans increased by 0.8% from the previous quarter to £1,760.6 billion, and was 3.1% higher than a year earlier (Table A). The value of gross mortgage advances increased by 11.1% from the previous quarter to £77.4 billion, and was 31.7% higher than a year earlier (Table A and Chart 1). The value of new mortgage commitments increased by 1.4% from the previous quarter to £79.2 billion, and was 1.3% higher than a year earlier (Table A and Chart 1). The share...Consumer CreditMortgagesBanking8 September 2026
- ConsultationHigh impactCP26/32: Quarterly consultation paper No. 53Once a quarter, we consult on proposed miscellaneous amendments to our Handbook. These tend to be minor changes but we still want to get your feedback on our proposals. ... Read CP26/32 (PDF) ... What we are consulting on this quarterProposed changes:To amend the readily realisable security definition to include fractional shares.To remove an expired reference in BCOBS 2.3.9G and replace the reference in BCOBS 2 Annex 1, Note 1, to the latest ‘Annual Equivalent Rate (AER) Practice Note’ issued by UK Finance and the Building Societies Association.To make deferral arrangements for the admission process of qualifying cryptoassets on UK QCATPs, the execution venue requirements on UK-authorised dealers and arrangers, and the execution policy requirement for these firms.To remove data point DISP 1.10.1IR(2)(a) which is a data point on claims management fee cap redress erroneously duplicated in the Consumer Credit Reporting return (CCR).To update the definition of the Glossary term...PaymentsConsumer CreditInvestment4 September 2026 · deadline 12 Oct
- DecisionFCA decides to ban and fine Daniel Thomas over unauthorised pension transfer adviceThe FCA has decided to ban Daniel Thomas from working in financial services and fine him £742,700 after finding he recklessly gave defined benefit pension transfer advice he was neither qualified nor allowed to give.3 September 2026
- Handbook UpdateMortgages and open finance policy sprintOur outcomes report sets out the conditions participants considered necessary for open finance to improve mortgage journeys in practice. ... Read the full report (PDF)On 8 and 9 June 2026, we brought together around 80 stakeholders and experts from across the mortgage and open finance ecosystem for a policy sprint.The report reflects the ideas, proposals and issues explored by participants. It does not establish a final ecosystem design or represent confirmed FCA policy. ... Objective of the sprintThe sprint explored the conditions needed for open finance to improve mortgage journeys in practice. Participants considered where better use of data could help consumers, and the evidence, infrastructure, safeguards and participation arrangements that would be needed to support adoption.Why mortgagesMortgages were examined as a priority test case in our open finance roadmap because mortgage decisions draw on information held across multiple organisations and over long periods of time. Open finance could give...Mortgages3 September 2026
- News & SpeechesThe UK alternative investment fund market: evidence from regulatory reportingOur research explores the UK's alternative investment fund (AIF) market using our regulatory data. ... Read the research (PDF) ... This research looks at the UK AIF market, how it has changed over time and how risks and vulnerabilities are distributed across the market.The UK AIF market has grown significantly, with the value of funds managed in the UK reaching £1.8tn in 2025. Growth in funds marketed in the UK has been broadly spread across fund types, although private credit has emerged as one of the fastest growing segments of the market.The findings have informed our proposals to modernise the UK Alternative Investment Fund Managers Directive (AIFMD). The findings provide a snapshot of the market before our proposed regulatory reforms, setting a baseline to help us evaluate future regulatory changes.Our other key findings include:Professional investors remain at the centre of the market.Leverage and liquidity risks are concentrated in certain fund...Consumer Credit3 September 2026
- News & SpeechesFrontier AI and cyber resilienceRead insights for firms on how frontier AI may affect cyber resilience, governance and vulnerability management for firms.2 September 2026
- News & SpeechesFCA urges young adults to check for unclaimed Child Trust FundsThousands of young adults could be sitting on a forgotten pot of savings as they head back to college and university. As students return to college and university this month, the FCA is urging young adults and parents to check whether they have a forgotten Child Trust Fund waiting to be claimed – potentially worth thousands of pounds.Figures from HMRC show that 760,000 matured Child Trust Funds, worth an average of £2,000 each, remain unclaimed. That means hundreds of thousands of young people could be missing out on money that could go towards new laptops, textbooks, rent deposits or the everyday costs of student life – or setting them up with savings for their future.Some companies, including those advertising on social media, are offering to 'find' and claim Child Trust Funds on people's behalf – often for a hefty fee or a cut of the final payout. The FCA has...InsuranceBanking1 September 2026
- Market BulletinPrimary Market Bulletin 65Newsletter for primary market participantsAugust 2026 / No. 65 ... In this edition, we cover:Our work to improve transparency and access to trade data in UK equity markets.Regulatory announcements being used as marketing materials.Sponsors taking increasingly tailored approaches to expert reporting.Our review of delayed disclosure of inside information.Explaining our emergency powers under the Short Selling Regulations 2025. New inside information declaration form for listings submissions via ESS.Corporate Finance28 August 2026
- Data ReleaseWhistleblowing quarterly data 2026 Q2Our data shows the number of new whistleblowing reports we received between April and June 2026, 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...Payments27 August 2026
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- News & SpeechesYoung investors trust AI more than TV or celebritiesFour in 5 less experienced investors have used AI for help with investing – and around two-thirds report doing so occasionally or regularly. New research focused on 18- to 40-year-olds who own or are considering investments showed that 56% trust AI tools, more than TV and radio (47%), press (46%) or social media influencers (29%).And people are getting more comfortable, with two-thirds expecting to lean on AI even more over the next year.But the research from the FCA also revealed that these investors may be misunderstanding the level of protection if they rely on AI to support their investing decisions:Almost half (44%) mistakenly believe AI-generated financial information is regulated.More than 1 in 3 (38%) believe it’s fine to make an investment decision based solely on the outputs of AI.Around a third (32%) wrongly think they'd get compensation from the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service if AI...PaymentsInvestment27 August 2026
- News & SpeechesFCA bans trio behind £35.5m scheme designed to bypass visa rulesThe FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. The FCA has also decided to ban Dolfin co-founder, Roman Joukovski, from working in financial services. Between 2016 and 2019, most clients using the scheme paid a fee of £400,000 instead of investing £2m of their own money in UK companies, as required under the Home Office investor visa rules. The FCA found the scheme was deliberately designed to create the false impression that the visa requirements had been met. The scheme enabled at least 99 individuals to obtain investor visas and generated at least £35.5m in fees for Dolfin-connected...Consumer Credit26 August 2026
- News & SpeechesEGR Wealth Limited enters administrationOn 24 August 2026, EGR Wealth Limited (EGR Wealth) entered administration. Robert Goodhew and Geoff Bouchier of Kroll Advisory Limited were appointed joint administrators. The joint administrators are responsible for managing the affairs of the firm during the administration process. They are officers of the court and need to comply with all insolvency law.EGR Wealth is authorised by the FCA. It provided discretionary investment management services, managed client investment portfolios, and facilitated the transfer and administration of client investments.On 24 July 2026, EGR Wealth agreed to a voluntary requirement which restricted the activities it can carry out.Below we set out for customers:How to contact the joint administrators.Information about the administration.What to do if you are concerned about your investments.What to do if you have a complaint with the firm.How to protect yourself from fraudsters claiming to act on behalf of the firm, the joint administrators or the FCA.Consumer Credit26 August 2026
- Data ReleaseProduct sales data - 2025We collect data from the firms we regulate on what products they are selling. Firms operating in the mortgages, retail investments or protection sectors submit product transaction data to us quarterly. ... View the 2025 PSD tables View the 2025 mortgage PSD interactive tables and visualisationsView the 2025 retail investments PSD interactive tables and visualisationsKey informationFirms report details of their sales of regulated mortgage contracts, retail investment products and certain pure protection products to retail and private customers. Firms report transaction-level data on both direct sales by their own sales forces and sales made by intermediaries.We use the product sales data (PSD) to assist us in regulation of firms and to spot trends in the products sold in the UK market. We publish the aggregated PSD each year so that consumers and market participants can see what firms are selling and understand the trends.In the mortgage PSD, we have provided...Consumer CreditInsuranceMortgages20 August 2026
- Data ReleaseMortgages product sales data dashboardsThis page gives a breakdown of mortgage and remortgage product sales data (PSD) from 1 January 2021 to 31 December 2025. ... The interactive charts and maps below present a selected mortgage PSD set.How to use the interactive chartsTo use the charts and maps, there are 3 filters to choose from:Mortgages grouped by – use this to view the mortgage data split by 18 mortgage groupingsCategory – this allows you to explore further each mortgage groupingDate – use this to select one or more time periodsChart tip: Remember to clear the ‘Category’ filter when you change the ‘Mortgages grouped by’ filter The data in these charts is correct as of 2 July 2026. Due to a combination of data resubmissions and adjustments, the data is not comparable to data within previous PSD publications.Download the underlying data for the Tableau dashboards:PSD Mortgages quarterly data (XLSX) PSD Mortgages monthly data (XLSX)PSD Mortgages...Mortgages20 August 2026
- Data ReleasePure protection contracts product sales data dashboardWhat changed – The FCA has released a new Pure Protection Contracts Product Sales Data (PSD) dashboard covering the period 1 Jan 2021 to 31 Dec 2025. The dataset is now presented via an interactive Tableau dashboard with four user‑controlled filters (grouping, date, category, sub‑category). Because of recent data resubmissions and adjustments, the figures are not comparable to previous PSD publications. Who is affected – All firms that sell or advise on pure protection contracts (e.g., life insurers, intermediaries, advice firms, and platform providers) that rely on FCA‑published sales data for market monitoring, product performance analysis, or regulatory reporting. Actions to consider (process steps only) 1. Access the dashboard – Navigate to the FCA website and open the “Quarterly Pure Protection Contracts PSD dashboard” (Tableau link). 2. Download the raw data – Use the provided XLSX file to obtain the underlying dataset for internal analysis. 3. Update internal reporting – Replace any legacy PSD figures with the new data, noting the lack of comparability to earlier releases. 4. Review product‑channel performance – Apply the four filters to isolate sales by product type, channel, and advice level to inform risk‑based monitoring. 5. Document the change – Record the data‑source update in your firm’s data‑governance register and inform relevant stakeholders (product, compliance, risk). Deadline – The data is current as of 28 August 2026; firms should incorporate the new figures into any reporting or analysis for periods starting 1 September 2026 onward. Source – FCA, Pure protection contracts product sales data dashboard (Data) – https://www.fca.org.uk/data/pure-protection-psd‑dashboard (accessed 8 Oct 2026).20 August 2026
- Data ReleaseRetail investments product sales data dashboardThis page gives a breakdown of retail investment products sales data (PSD) from 1 January 2021 to 31 December 2025. ... We have included the 29 different retail investment products and have grouped these into 8 distinct product categories, as shown in Table 1 below. For these 8 product categories, we break down these product sales further by detailed product categories.Table 1: Retail investments PSD product categoriesProduct CategoriesDetailed Product CategoriesProduct Type NameEndowmentsEndowmentsEndowment Savings PlanMortgage EndowmentWith-profit EndowmentBondsOther BondsDistribution BondGuaranteed Income/Growth/Investment BondTrustee Investment BondUnit Linked BondUnit Linked BondWith-profit BondWith-profit BondTrusts, OEICs and SCARPsTrusts, OEICs and Structured CapitalAt Risk Product (SCARPs)Investment TrustStructured Capital At RiskProductUnit Trust / OEICISAISAISALong-term Care InsuranceLong-term Care InsuranceLong-term Care InsuranceDecumulation ProductsAnnuitiesLife Annuity Pension AnnuityIncome DrawdownIncome DrawdownOccupational PensionsOccupational PensionsAVC Group Money PurchaseExecutive PensionGroup Money PurchaseGroup Section 32 Buy OutSmall Self AdministeredScheme (SSAS)Personal PensionsGroup Personal PensionGroup Personal PensionOther Personal PensionsFSAVCIndividual Pension TransferPension Opt OutSection 32 Buy OutPersonal PensionPersonal PensionSelf Invested Personal...Consumer CreditInsuranceMortgages20 August 2026
- Data ReleaseInterpreting the dataSince 1 April 2006, all Product Sales Data (PSD) reporting firms have been required to state whether customers received advice at the point of sale, so all figures involving advised sales are from this date onwards. For more information on what constitutes an advised sale, please refer to the glossaries below. ... Mortgages PSDPSD only captures new sales/transactions.In the case of mortgage transactions, the reporting requirement applies to loans for house purchase, remortgages, internal product transfers (including those effected by a new mortgage contract and those effected as contract variations) and further advances. In the case of sales data, a reportable mortgage transaction applies where the mortgage transaction has completed (meaning funds have been transferred and have been applied for the purpose of the mortgage).Internal product transfers and further advances must be reported in product sales data (PSD001) where they are completed on or after 1 April 2021.For the purposes...Consumer CreditInsuranceMortgages20 August 2026
- News & SpeechesConsumers warned to beware of risky mini-bonds and loan notesThe FCA is warning consumers about the risks of investing in loan notes and mini-bonds issued by unregulated companies, after continuing to see people lose money in these high-risk investments. The recent failure of Woodville Consultants Ltd, a litigation funder that raised capital from retail investors through unregulated loan notes, shows the potential risk to investors.A loan note or mini-bond usually involves lending money to a company for a set period in return for interest. If that company fails, consumers could lose every penny.The FCA permanently banned the marketing of speculative illiquid securities, including mini-bonds and loan notes, to retail investors from 1 January 2021.But consumers may still come across adverts for loan notes and mini-bonds in everyday places, including social media, online adverts or websites promoting high fixed returns.The adverts can look simple and safe, but warning signs include pressure to act quickly, unclear explanations of how money could...Consumer CreditBankingCorporate Finance20 August 2026
- News & SpeechesUnregulated loan notes and mini-bonds: don't risk your savings on promises of high returnsThese high-risk investments should not usually be advertised widely to the public. We banned the marketing of speculative mini-bonds and loan notes to ordinary retail investors from 1 January 2021.We did this because these are complicated investments, not suitable for most people. The ban means these high-risk investments should not usually be advertised widely to the public.But some unregulated firms may still try to sell them by using legal exemptions. You should be on alert if you’re offered these types of investments by someone not regulated by us. They may ask you to tick a box saying you are a sophisticated, experienced or high-net-worth investor before you can invest. Most people don’t meet these criteria.Be very careful before ticking any boxes, as it could mean you lose important protections if things go wrong. You’re unlikely to be able to take complaints to the Financial Ombudsman Service or make a claim...20 August 2026
- DecisionFCA fines and bans former SVS Securities CEOThe FCA has banned Demetrios Hadjigeorgiou from working in senior management positions in financial services and fined him £56,400. Mr Hadjigeorgiou was the former director and chief executive officer (CEO) of SVS Securities Plc (SVS), a discretionary fund manager.The FCA found that Mr Hadjigeorgiou failed to properly manage SVS and protect its customers’ interests.While he was CEO, the firm invested customers’ money, including pension savings, in high-risk products while receiving significant payments from the companies that issued them.Mr Hadjigeorgiou also failed to challenge a decision that reduced the value of customers’ bond investments by 10% when they decided to sell them. This generated £359,800 for SVS at the expense of its customers. Customers were not clearly told about this reduction and, as a result, some lost part of their pension savings.The ban and fine were imposed after Mr Hadjigeorgiou settled his case with the FCA and withdrew his referral to...Banking19 August 2026
- News & SpeechesFeedback on motor finance redress scheme implementation plansTo help firms strengthen their motor finance redress plans, we provide examples of good and poor practice from our review of implementation plans. ... The motor finance redress scheme is currently partially suspended, but firms must comply with all rules which are not suspended.19 August 2026
- News & SpeechesFCA bans senior manager for lack of honesty and integrityThe FCA has banned Howard Roland Duckett from working in financial services due to a serious lack of honesty and integrity. Mr Duckett was a senior manager at Beauforce Corporation Limited, a debt management firm. The High Court has disqualified Mr Duckett from acting as a company director for 10 years. It found that he had failed to maintain adequate records while director of an unrelated company.The Court also found that Mr Duckett repeatedly lied and attempted to rely on fabricated evidence to distance himself from the company and deny that he was a director. This included falsely claiming that a fictitious individual was responsible for running the business.Mr Duckett failed to tell the FCA about his disqualification.Therese Chambers, joint executive director of enforcement and market oversight, said:'Mr Ducket constructed an elaborate fiction in his attempt to avoid disqualification and did not disclose his disqualification to the FCA. He deserves...Consumer CreditBanking18 August 2026
- News & SpeechesWealth management survey report – 2026The UK wealth management sector plays a central role in helping people invest with confidence.Investment18 August 2026
- News & SpeechesFCA expands global presence with new attachés in India and UAEThe FCA has announced Sabina Saini and Darine Obeid as the financial services attachés for India and the UAE. Sabina will be based at the British Deputy High Commission in Mumbai and Darine will be based at the British Embassy in Abu Dhabi.These appointments expand the FCA's global presence, joining a global network that includes the FCA's existing attachés in Washington DC, Brussels and Singapore, as well as the Asia-Pacific, supporting international co-operation, exports and investment into the UK.Ruairí O’Connell OBE, director, international, said: 'Our new financial services attachés in India and the UAE will advance the UK's interests on financial services policy and help drive investment into our open market.'The FCA's global network is vital to delivering across all parts of the FCA strategy. Just as the UK is a global financial services centre, the FCA is a globally connected regulator and international leader in financial regulation. Our new...Banking17 August 2026
- News & SpeechesCEO banned for false and misleading statements made in attempt to buy bank and football clubPaul Taylor, former CEO of Blue Horizon Asset Management (BHAM) has been fined £489,000 and banned from working in financial services by the FCA. The former managing director of the firm, Esmeralda Toni, has also been fined £121,200 for serious misconduct and banned by the FCA.During his time at BHAM, Mr Taylor made misleading statements and falsified information during 2 separate attempted acquisitions.While attempting to acquire a UK bank, Mr Taylor falsified, or arranged to be falsified, documents claiming to be the owner of a bond portfolio worth approximately €200m. Ms Toni knowingly assisted Mr Taylor by making misleading statements to the bank and by helping falsify the documents. Mr Taylor knew, and Ms Toni understood that it was likely, that these statements and documents would be relied upon by the FCA and Prudential Regulation Authority (PRA) as part of their assessment for the proposed acquisition.Ms Toni was interviewed as...Consumer CreditBanking14 August 2026
- News & SpeechesT+1 Settlement: are firms ready for 2027?Why T+1 matters and what we’ve been doing so farThe UK’s move to a T+1 securities settlement cycle on 11 October 2027 is a fundamental shift in how securities transactions are settled.To prepare, market participants will have to rapidly speed up their post-trade processes, including automating their operations as appropriate.We’ve found that some are more ready than others – and some have a lot to do to meet deadlines, and our expectations.Participants should view T+1 as an opportunity. It will make the UK market more efficient and reduce risk – ultimately freeing up funds for investment.Our work on the T+1 transition is helping support growth in the UK financial market. We’re testing how ready market participants are for the transition, and where implementation challenges and bottlenecks remain.This forms part of our approach for T+1 we set out last year, alongside an active communications strategy and market monitoring.We’ve been speaking to...13 August 2026
- News & SpeechesFCA boosts support for innovative firms as they scale and growFive fast-growing firms have joined the FCA’s Scale-up Unit, receiving tailored support to help them innovate, navigate regulation and grow sustainably. ClearScore, Modulr, Teya, Urban Jungle and Zilch, spanning payments, consumer finance, credit information and insurtech, are the first firms regulated solely by the FCA to take part. The Scale-up Unit gives firms tailored regulatory support as they develop new products, respond to policy changes and manage the challenges of rapid growth. Insights from a recent pilot with 15 high-growth firms, published on 10 August 2026, show that early investment in governance, risk management and controls helps firms manage the opportunities and challenges of growth, as well as scale sustainably.‘High-growth firms play a vital role in driving economic growth across the UK,’ said Jessica Rusu, chief data information and innovation officer, FCA. ‘We want the UK to remain one of the best places in the world to start, grow and...Consumer CreditInvestment10 August 2026
- News & SpeechesHigh-growth firms: good and poor practiceRead our review of good practice and areas for improvement identified through our Early and High Growth Oversight pilot with high-growth firms. ... Firms that grow rapidly can benefit consumers and markets by increasing choice and access, improving services and supporting innovation. High growth firms can also contribute to economic growth through job creation and investment in infrastructure and technology. But if firms prioritise expansion ahead of developing governance, risk management and control frameworks, this can increase the risk of harm. Between July 2025 and March 2026, we engaged with 15 firms across asset management, wealth management and payments as part of a high-growth pilot. This was to identify rapidly growing firms earlier and support them as they establish and evolve their business. We assessed whether their governance, risk management and control frameworks were developing in line with their growth. Below, we set out examples of good and poor practice...Investment10 August 2026
- News & SpeechesFCA applying increased scrutiny to Annex 1 firmsWe are concerned about a number of risks among unregulated lenders, safe custody providers, money brokers and financial leasing companies (Annex 1 firms). Firms including unregulated lenders, safe custody providers, money brokers and financial leasing companies, need to be registered with us for anti-money laundering purposes.If you’re carrying out these activities without being registered, you should submit an application for registration.We are concerned about a number of risks we’ve identified among Annex 1 firms, in particular the potential for them to facilitate financial crime.We have seen firms rely too heavily on the financial crime controls of their parent company. Each individual firm within a group must assess whether these controls are appropriate for their financial crime risks, governance and operations. They also can’t rely on off-the-shelf procedures designed for a different company. Each must have controls tailored to the way they operate and the risks they need to manage.We are...Consumer Credit7 August 2026
- Handbook UpdateMaking compliance simpler: opening up the FCA Handbook through our new APIFirms tell us that complying with our requirements can be a burden. They have to keep up with changes, understand what we expect and embed new practices across multiple systems and teams. All of this takes time and resources.Of course, firms must meet their regulatory responsibilities – but we want to make it as simple as possible.That's why we're launching the FCA Handbook Application Programming Interface (API), so software systems can talk to each other and share information. With the Handbook available in a structured, machine-readable format, firms can access, understand and use our rules more easily.It’s another practical step in being a smarter regulator in a digital world.Making regulation easier for firmsThe FCA Handbook contains the rules, guidance and standards for the UK's financial services regulatory framework. For many years, firms could only get all this information through websites, monthly downloads and specialist compliance tools.The Handbook API gives them...6 August 2026
- News & SpeechesFCA simplifies IPO rules to support UK listingsCompanies will benefit from easier initial public offering (IPO) listings thanks to changes to the rules from the FCA. This will allow the UK listings market to compete more effectively with global markets.The reforms will reduce execution risk for issuers, lower compliance costs and make it easier for companies to access public markets. As part of the changes, the FCA will remove the 7-day waiting period for connected research during an IPO and simplify information-sharing requirements for issuers and firms.These changes support the FCA's aim of enabling growth, investment and innovation, while continuing to uphold high standards of market integrity and investor protection.Jon Relleen, director of infrastructure and exchanges at the FCA, said:'We want the UK market to be an attractive place for companies to raise capital and grow. By making the UK listing regime more efficient, we are supporting the growth and competitiveness of UK capital markets.'Notes to editorsRead...Corporate Finance5 August 2026
- Policy StatementHigh impactPS26/16: Changes to information flows for UK equity IPOsWe’ve updated our rules on information sharing during UK equity initial public offerings (IPOs) to reduce market risk and frictions in the UK IPO process for issuers and market participants. ... Read PS26/16 (PDF) ... What we are changingWe’ve removed certain requirements from our rules.Firms no longer need to wait 7 days between publishing an approved registration document/prospectus and connected research. This will reduce the length of the IPO process by 7 days for most issuers and lower market risk.Firms publishing connected IPO research no longer need to share the same information with a range of unconnected analysts as they do with their own research analysts. This will improve the flow of information to analysts and reduce compliance costs and burdens for issuers. ... Who this is forThis Policy Statement affects:prospective issuersretail and institutional investors in shares admitted to a UK regulated marketinvestment advisers, brokers and other intermediariesindependent research providers...Consumer CreditBankingCorporate Finance5 August 2026
- DecisionTribunal upholds FCA ban on pair involved in pension transfer advice and reduces finesThe Upper Tribunal upheld the FCA's decision to ban Richard Fenech and Heather Dunne from working in financial services. The Tribunal agreed that both acted dishonestly by providing a backdated appointed representative agreement to the FCA.The Tribunal found that Ms Dunne falsely claimed she had given advice to some pension schemes before she had done so. Also, that she had failed to take proper care when giving pension transfer advice. Meanwhile Mr Fenech failed to properly oversee her work.Ms Dunne advised about 92% of her clients to move out of defined benefit pension schemes between April 2015 and June 2017. This led to more than £126m being transferred, including when it was not in clients’ best interests.The FCA had based both fines on the finding that all of Ms Dunne's advice breached regulatory requirements. The Tribunal ruled that the fines should reflect its finding that 18% of Ms Dunne's clients...4 August 2026
- News & SpeechesFCA finalises rules to cut firms' transaction reporting costs by over £100m a yearTransaction reporting requirements become smarter, simpler and more proportionate under new rules from the FCA. Transaction reports are critical to the FCA’s ability to detect and investigate market abuse, monitor market functioning and supervise firms effectively.The new rules are designed to ensure the FCA continues to receive accurate, high-quality data while eliminating duplicative or low-value reporting. By removing unnecessary reporting the changes will reduce regulatory burden and support growth and competitiveness. The changes will save firms more than £100m a year.Therese Chambers, joint executive director of enforcement and market oversight, said: 'Transaction reports are the backbone of our market oversight work – they help us catch financial crime, monitor market stability and supervise firms effectively. 'By taking a smarter, streamlined approach to reporting, we're giving firms meaningful cost relief while ensuring we continue to receive the accurate, high-quality data that keeps UK markets clean and competitive.'Key changes include:Reducing the number...InvestmentBanking3 August 2026
- Policy StatementPriorityPS26/15: Improving the UK transaction reporting regimeWe set out final rules to simplify UK transaction reporting and reduce the burden on firms. ... Read PS26/15 (PDF) ... Why we are changingThe Markets in Financial Instruments Regulation (MiFIR) transaction reporting rules were implemented in 2018. The Treasury has committed to repealing and replacing these rules with a more proportionate, streamlined and agile framework in our Handbook.This Policy Statement sets out our final rules and guidance along with feedback to the proposals we set out in consultation CP25/32 (PDF). ... What we are changingThese final rules make changes to the scope, content and operation of the transaction reporting regime. The rules are designed to simplify firms’ reporting obligations, reduce duplicative or low-value reporting and improve consistency in how key fields are populated.We expect these changes to reduce firms’ reporting costs by more than £100m annually. These changes include:Reducing the number of transaction reporting fields from 65 to 52.Removing...Investment3 August 2026
- ConsultationHigh impactCP26/30: Supporting equity market transparency and considering market structure developmentsWe are proposing targeted changes to enhance transparency, price formation and resilience in UK equity markets, support the new consolidated tape, and seek views on future market structure monitoring. ... Read CP26/30 (PDF) Why we are consultingUK equity markets continue to function well, but trading now takes place across a wider range of execution mechanisms. Clearer, more consistent transparency data is increasingly important to support effective price formation, investor confidence and the UK’s equity consolidated tape.We are consulting on targeted changes to improve trade reporting, strengthen the systematic internaliser (SI) regime and support more resilient market operation when outages occur. We are also seeking views on our approach to monitoring future market structure developments, so that UK equity markets remain efficient, resilient and continue to work well for their users.Who this is forThis consultation will be of primary interest to:Trading venuesInvestment firms, including SIsUK branches of overseas firms carrying out...Investment31 July 2026 · deadline 16 Oct
- News & SpeechesFCA advances package of equity market transparency reformsThe FCA has published a package of reforms designed to improve transparency, strengthen access to market-wide information and support confidence in UK equity markets. The package confirms the framework for a future equity consolidated tape, consults on targeted market structure reforms and introduces an interim market activity reporting tool for shares.UK equity markets offer investors a wide choice of trading options. The FCA's assessment is that competition and innovation have delivered significant benefits for market users, helping create liquid and resilient markets.However, greater choice has also increased fragmentation. Obtaining a complete picture of trading activity can be complicated and expensive, meaning market-wide data is often under-used. It also means the depth and liquidity of UK equity markets is often under-appreciated.A consolidated tape brings together trading information from across the market into a single source. This package puts us on a path to deliver an equity consolidated tape within 18 months,...31 July 2026
- News & SpeechesTrial date set for individual charged with illegal promotionsOn 30 July 2026, Lucy Beck attended Southwark Crown Court for a hearing in relation to unauthorised promotions on social media. Ms Beck entered a not guilty plea and the date of her trial has been set as 12 June 2028.It is alleged that Ms Beck promoted buying and selling Foreign Exchange Contracts for Difference through social media accounts and websites, without being authorised to do so, contrary to sections 21 and 25 of the Financial Services and Markets Act 2000.Notes to editorsLucy Beck’s date of birth is 30/04/1994.Anyone who believes they may have suffered loss in relation to this matter is encouraged to contact the FCA consumer contact centre on 0800 111 6768. Calls are free from UK landlines and mobiles.Fighting financial crime is central to the FCA’s 5-year strategy (PDF).Consumers can use the FCA’s Firm Checker to see whether a firm is authorised and has permission to offer...30 July 2026
- News & SpeechesBlue Motor Finance Limited enters administrationOn 30 July 2026, Blue Motor Finance Limited (BMFL) was placed into administration. Simon Edel, Richard Barker and Alan Michael Hudson of Ernst & Young LLP were appointed as joint administrators. BMFL (firm reference number 737682) operated as a motor finance lender.The firm had been running at a loss for a number of years and faced significant compensation liabilities it could not meet.Simon Edel, Richard Barker and Alan Michael Hudson have been appointed as joint administrators. They are now responsible for BMFL while it is in administration. They will contact all affected customers.BMFL in administration is no longer lending. However, all outstanding loan agreements remain in place and will continue to be serviced by BMFL in the short term. You should continue to make payments as usual.BMFL remains liable for any compensation it owes, including under the FCA's motor finance compensation scheme (the scheme).We are engaging with BMFL and the...Consumer Credit30 July 2026
- News & SpeechesFCA censures Equity for Growth (Securities) LimitedThe FCA has censured Equity for Growth (Securities) Limited (EFG) for approving financial promotions relating to minibonds that were unfair, unclear and misleading. EFG approved financial promotions which failed to disclose very high commission fees charged by its appointed representatives and other introducers for marketing the minibonds to investors. Appointed representatives carry out regulated activities under the responsibility of an authorised firm, known as ‘the principal’.The promotions also failed to state that these fees would be deducted from investors’ money. This meant they could not make a fully informed decision before investing.Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said:'Investors cannot make informed decisions without key information. Firms must make sure that the financial promotions they are approving are transparent about the high commissions taken from people’s money and the impact those charges have on their investments.’On 25 March 2026, following an FCA petition and...Consumer Credit30 July 2026