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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 241–280 of 561.

News & SpeechesFCA consults on targeted changes to listing rules for closed-ended investment fundsThe FCA has published a consultation paper on proposed changes to its UK Listing Rules for closed‑ended investment funds, focused on the management of conflicts of interest. Closed‑ended investment funds have a distinct structure, operating as both listed companies and investment vehicles. Shareholders appoint a board, which in turn appoints and oversees the investment manager responsible for delivering returns. Shareholder rights are central to this model, enabling investors to hold boards to account and to influence key decisions.The review, announced in March as part of the FCA's ongoing work on the UK Listing Rules, considers how its rules support strong shareholder rights and effective management of conflicts of interest in a range of potential future scenarios. As part of good regulatory practice, the FCA has been stress testing how the rules would operate in different hypothetical situations to ensure they remain robust over time and as markets evolve.This has included...Corporate Finance26 June 2026 · deadline 14 Aug
ConsultationHigh impactCP26/21: Proposed changes to the UK Listing Rules for closed-ended investment fundsWe're consulting on targeted changes to the UK Listing Rules for closed-ended investment funds to manage conflicts of interest and protect shareholders. ... Read CP26/21 (PDF)Why we are consultingWe're proposing targeted and proportionate amendments to Chapter 11 of the UK Listing Rules (UKLR 11), which sets out rules for listed closed-ended investment funds, to ensure our rules continue to apply consistently in all relevant scenarios.The changes are designed to strengthen the integrity of a board being able to act independently of any investment manager, apply consistent protections for all changes to investment manager fees and remuneration, and recognise the conflict arising where a substantial shareholder is also an investment manager.Our aim is to ensure existing rules work consistently and robustly, in future scenarios, and to reduce the risk of harm to shareholders – particularly smaller investors. ... Who this is forListed closed-ended investment funds, including their boards and directors.Investment managers...Corporate Finance26 June 2026 · deadline 14 Aug
News & SpeechesEngaging and enabling retail shareholders to vote: good practiceWe share examples of good practice to increase retail shareholder engagement and reduce barriers to voting.26 June 2026
ConsultationHigh impactCP26/22: Simplifying the insurance rulesWe set out further proposals for simplifying insurance and funeral plan requirements while maintaining appropriate consumer protection. ... Read CP26/22 (PDF)These are part of our wider plans to streamline rules and reduce complexity for firms, and follow final rules published in December 2025. Alongside this consultation, we are consulting on the application of the Consumer Duty to business with non-UK customers. We have taken a consistent approach to disapplying ICOBS and PROD 4 with disapplying the Duty. ... What we are changing We are consulting on:Narrowing the scope of our rules for non-UK business: Amending the territorial application scope of our Insurance Conduct of Business Sourcebook (ICOBS) and our Product Intervention and Governance Sourcebook chapter 4 (PROD 4). The detailed insurance conduct requirements would apply where there is a clear UK connection, based on the customer’s habitual residence and, where relevant, the location of the risk. This would reduce duplication...InvestmentInsuranceBanking26 June 2026 · deadline 4 Sep
News & SpeechesCACEIS UK censured and to pay £31.7m to WealthTek clients for weak financial crime controlsCACEIS UK, an asset servicing bank, has been censured by the FCA and will make a £31.7m voluntary payment to WealthTek clients for failing to act on information that left clients exposed to the risk of financial crime. The FCA has now secured over £57m in total for WealthTek clients in just over a year, with action taken against CACEIS UK, Sapia Partners and Barclays Bank UK.CACEIS UK became WealthTek's sub-custodian in November 2020, meaning they were responsible for keeping its client’s assets safe. WealthTek was then known as Vertus Asset Management LLP.On three occasions, CACEIS UK checked the Financial Services Register which showed that WealthTek wasn’t authorised to hold certain client assets but did not take sufficient action. The firm also did not spot that WealthTek was not allowed to hold client money. However, it went on to open client accounts for WealthTek to use, then failed to monitor...Consumer CreditBanking25 June 2026
News & SpeechesWhy stronger Buy Now Pay Later protections are the right step for consumersBNPL can help people to manage their cash flow. It can allow them to spread the cost of purchases and smooth their finances. But, as with any borrowing, BNPL also carries risks. Let me be clear about this: BNPL has an important role to play. We don’t want to reduce or remove access to credit, but to ensure it is offered in a way that works for consumers. That's why we are introducing protections for consumers using BNPL. Consumers will benefit from clearer information before they borrow, proportionate affordability checks, and access to support if they get into difficulty with their repayments.They will also be able to complain to the Financial Ombudsman Service if something goes wrong, and in some cases the right to a refund from their lender under Section 75 of the Consumer Credit Act. At its heart, this is about people getting the protections they would reasonably...Consumer Credit25 June 2026
News & SpeechesShaping the future of the credit market – the road aheadSpeech by Alison Walters, director of consumer finance at the Credit Week: Powering the Future of Finance event. We all recognise that consumer credit plays a vital role in the real economy and in people’s everyday lives, supporting households, enabling opportunity, and helping people manage financial pressures. But the world around us is changing, the credit market is changing and so are consumer demands and needs. With that in mind, it is important to consider whether the market today is fit for the future.If the consumer credit market still feels like a caterpillar – complex, multi-limbed, a bit prickly and lumpy in places – then our shared task is to guide it through its metamorphosis, from chrysalis to butterfly.To become a butterfly, the credit market needs to transform from one that is less prickly for some, fragmented and with areas of brittleness, to one that is more cohesive, resilient, and...Consumer Credit25 June 2026
News & SpeechesRethinking regulation for the age of AISpeech by Nikhil Rathi, FCA chief executive at techUK's Agents of Change: Generative and Agentic AI in Financial Services 2026. On joining the FCA over five years ago, I said we would become as much a data and tech regulator as financial services regulator.Being invited to speak here today reflects that.We’re building the future together, and nowhere is that clearer than on AI.Studies suggest more than 80% of financial services firms are already adopting AI.So the question now is about scale.And if we are serious about being a leading AI economy, financial services have to sit at the heart of our approach.Only financial services can provide the investment, infrastructure, and trust that will accelerate AI adoption across the economy.But with the pace of change brought about by AI challenging many of the assumptions on which our markets and regulation were built, the question isn’t simply how we regulate for AI.It’s...24 June 2026
News & SpeechesCommodity traders offer £1m to crisis fund after FCA competition probeThe FCA is concerned 11 traders may have shared sensitive information or coordinated trades, potentially restricting competition. Following an investigation, the FCA is concerned 11 traders may have hindered competition in commodity futures markets and infringed competition law by exchanging potentially sensitive information about their trading and/or coordinating their trading strategies with each other.The traders have proposed commitments to change the way they handle sensitive information, undertake annual competition law training and arrange a £1m ex gratia payment. The money will be given to the Crisis and Resilience Fund, which provides support to low-income families and individuals in financial hardship.Graeme Reynolds, director of competition at the FCA said:'Competition law exists to ensure markets work well. We consider all competition concerns and, where appropriate, we investigate and take action.'The individuals under investigation were day traders in global commodity futures markets. Day traders play an important role in maintaining competition by providing...Consumer Credit24 June 2026

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News & SpeechesInsurance financial crime controls – multi-firm reviewWe set out our findings and what insurance firms can do to improve their financial crime systems and controls.Insurance23 June 2026
News & SpeechesMonevium Ltd enters special administrationOn 18 June 2026, Monevium Ltd (Monevium) entered special administration. Adam Henry Stephens and Christopher Allen of S&W Partners LLP (S&W) were appointed as special administrators. Monevium is authorised by the FCA to provide payment services. On 28 February 2024, Monevium agreed to a voluntary undertaking, which restricted the activities it can carry out. See details on the Financial Services Register.Payments22 June 2026
News & SpeechesFCA consults on proposals to support strong, consistent standards in the SIPP marketThe FCA has set out plans to drive greater consistency of standards in self-invested pensions (SIPPs), while maintaining the flexibility and broad investment choice they offer. Most SIPP providers are already doing the right thing and providing a good service to their customers. However, the FCA has historically found cases of poor due diligence, weak record keeping and gaps in how firms protect money and assets. To drive greater consistency, the FCA is proposing clear standards of due diligence. This is intended to secure better outcomes for consumers by improving consistency and adequacy of due diligence across all SIPP operators.The FCA is also proposing stronger requirements for the handling of pension scheme money and assets. The targeted and proportionate proposals reduce the risk of consumer harm when firms fail or wind down.The proposals will bring greater certainty to the industry, improve confidence in the SIPP market and help ensure consumers...Banking22 June 2026
ConsultationPriorityCP26/20: Adapting our rules for a changing market: self-invested personal pensionsWe’re consulting on rules for self-invested personal pension (SIPP) firms to strengthen consumer protection and support sustainable market growth. ... Read CP 26/20 (PDF) Why we are consultingSelf-invested personal pensions (SIPPs) give consumers greater control and flexibility over their retirement savings, and the market has grown substantially - assets under administration (AUA) reached approximately £567bn across 5.3 million consumers in 2024. We're proposing rules in 2 areas: due diligence requirements to reduce the risk of scams and fraud, and a new Pension Scheme Money and Assets (PSM&A) regime to ensure firms protect and accurately record pension scheme money and assets where they use unauthorised trustees. These changes aim to raise standards consistently across the market, protect consumers, and support confidence and sustainable growth in SIPPs.Who this is forThis consultation is primarily relevant to:all firms that operate and provide personal pension products (both accumulation and decumulation) investment platform providers firms offering...Banking22 June 2026 · deadline 24 Aug
News & SpeechesInvestors get real-time view of UK bond market activity for the first timeFor the first time, investors and market participants can access a single, real-time source of prices and trading activity across the UK bond market, following the launch of its bond consolidated tape, operated by ETS Connect UK. Until now, data on bond trades was scattered across multiple sources, making it difficult to get a clear and complete picture of market activity. The new service brings it all together in one place.The launch builds on changes to the UK's bond market transparency rules that came into force in December 2025. Those changes have already made a real difference. The share of corporate bond trades reported in real time rose from under 5% to over 75%, and for government bonds from around 30% to approximately 80%. In some smaller parts of the market, real-time reporting increased more than 50-fold. The consolidated tape is the final step, giving users a single, comprehensive view...22 June 2026
News & SpeechesFCA closes investigation into Drax Group PLCDrax Group PLC (Drax) has announced the FCA has closed its investigation into the company.We undertook an extensive investigation following concerns raised regarding disclosures to the market about the sustainability of Drax’s Canadian biomass. We did not find evidence that justified any further action.Thousands of pages of complex material were reviewed as part of the investigation, and individuals from the company interviewed. Our focus was on areas within our remit, specifically whether Drax’s annual reports and accounts between 2021 and 2023 contained misleading statements or left out important information investors needed to know. Accurate reporting is crucial to the integrity of our markets, and vital so investors can make informed decisions.Where evidence supports proportionate action, we take it. Where it does not, we close cases as swiftly as possible.BackgroundThe FCA confirmed it was opening an investigation on 28 August 2025 following enquiries made in the wake of the announcement by...PaymentsConsumer Credit18 June 2026
News & SpeechesBeyond the headlines: the unseen fight against financial crimeSpeech by Therese Chambers, joint executive director of enforcement and market oversight, delivered at the International Bar Association (IBA) Anti-Corruption Conference. I’ve been practising law for over 3 decades now.Starting out, I thought every case would be like the ones on US television: dramatic, with a big reveal and resounding outcome, all packed into a single 30-minute episode. But real law looks nothing like television. Hollywood doesn’t show the months, if not years, of work before we even step into a courtroom. Or the drawn-out disclosure exercises!Like many of you, I have had cases that led to high-profile trials and newspaper headlines. Cases that exposed wrongdoing and visibly held people accountable, like:Fining Nationwide £44m for anti-money laundering failings.Securing €250m for investors from H2O Asset Management for their due diligence failures – and trying to conceal them.Another 7-figure fine and a ban for former Barclays CEO Jes Staley, who tried to...Consumer CreditCorporate Finance17 June 2026
News & SpeechesAreas of research interestThe priority research questions shaping our work, and where we want to collaborate and build evidence with you. ... Foreword by Kate Collyer, FCA chief economistFinancial markets are changing rapidly and in interconnected ways. New technologies are reshaping how consumers borrow, save, invest and engage with financial services, while demographic change is influencing savings, investment and retirement outcomes. At the same time, pressures on household finances are evolving alongside wider structural shifts in the economy, affecting consumer needs, resilience and institutional trust. Understanding these dynamics – and getting ahead of them – is central to how we deliver our strategic outcomes, and support good results for consumers, markets and growth. The FCA’s strategy for 2025 to 2030 sets out a vision to deepen trust, rebalance risk, support growth and improve lives. It is underpinned by four priorities: being a smarter regulator, supporting sustained economic growth, helping consumers navigate their financial...PaymentsBanking17 June 2026
News & SpeechesLater life lending: building the fourth retirement pillarSpeech by Emad Aladhal, director of retail banking at the Later Life Lending Summit. IntroductionIn the years ahead, housing wealth will become an increasing part of how many people provide for their retirement. But it continues to be seen as an option of last resort, if thought about at all.Knowing I had this speech, as an experiment at a recent BBQ I had a conversation with my friends about retirement and savings – none of whom work in financial services. They talked about their employers’ pensions, SIPPs, ISAs, investments, and potential business ventures to supplement income in retirement. None brought up later life lending, or how they could use their home to help.I don’t believe my friends are unique in this.When consumers begin to consider their options for funding their retirement, they usually look to pensions: their state pension, workplace pensions, and personal pensions. The 3 pillars.But why should it...Consumer CreditBanking16 June 2026
ConsultationPriorityCP26/19: Changes to our penalty and decision-making policiesWe’re consulting on Decision Procedure and Penalties Manual (DEPP) changes. ... Read CP26/19Why we are consultingWe want to update the DEPP to keep our policy current and consistent with how we work in practice.These changes will improve transparency and consistency. They will help us act faster, deter misconduct and maintain confidence in UK markets.What we are changingWe propose a small number of targeted updates to our penalty and decision-making policies:Market abuse: for the most serious cases, raising the minimum for individuals from £100,000 to £150,000 to account for inflation.Deterrence for wealthier individuals: making clear we may increase penalties for deterrent effect, having regard to income and assets.Penalties for individuals – relevant income: clarifying how we treat deferred bonuses, pay and shares, in line with recent Tribunal decisions.Serious financial hardship thresholds: raising income and capital thresholds to reflect living costs and update them over time.Settlement decision-makers: allowing more flexibility in who...Investment15 June 2026 · deadline 10 Aug
News & SpeechesCourt orders appointment of special administrators for Euro Exchange Securities UK LimitedThe High Court today confirmed the appointment of special administrators for Euro Exchange Securities UK Limited (EES). EES did not seek to overturn the court’s initial decision, which saw the firm cease trading with immediate effect last week.In light of the FCA's actions, EES agreed it is not in the company’s interests to seek to return to normal trading and will work with the appointed special administrators to ensure client money is returned as quickly as possible.Duncan Perring and James Bennett of Teneo Financial Advisory Limited have been appointed as joint special administrators, under the Payment and Electronic Money Institution Insolvency Regulations 2021.Since being provisionally appointed last week, they have taken control of the firm, secured a significant amount of material and frozen funds.This is the first of its kind case for the FCA, and it will continue to use its powers to their fullest extent to protect consumers and...PaymentsConsumer Credit11 June 2026
News & SpeechesAmplifi Capital (U.K.) Limited enters administrationOn 9 June 2026, Amplifi Capital (U.K.) Limited (Amplifi) entered administration. Robert Spence and Gareth Slater of Interpath Advisory were appointed joint administrators. Amplifi is authorised by the FCA. Amplifi trades under the names Reevo Money and My Community Finance. Reevo Money provided personal loans to consumers. My Community Finance acted as a credit broker, introducing customers to credit unions; My Community Bank (MCB) and Castle Community Bank (CCB) which issued loans and savings products. All existing loan agreements remain in place and will not change because of the administration. However, Amplifi can no longer issue new loans.Loans or savings with MCB or CCB will not change because of the administration.Customers should continue to make repayments toward any outstanding loans held with Reevo Money, MCB and CCB as usual. Not making repayments is likely to impact your credit score and future borrowing ability.Consumer CreditBanking11 June 2026
DecisionFCA decides to fine Carlos Ricardo Fuenmayor £99,600 for disclosure failures11 June 2026
News & SpeechesEmerging Technology Horizon Scan 2026Our Technology Horizon Scan explores how emerging technologies could reshape financial services – and what that means for consumers, firms, and markets. ... Read our report (PDF)SummaryWe want to understand technological change to anticipate its outcomes and gain early insight on what it may mean for financial services and for us as a regulator.Key findings include: Personalised intelligence: Artificial intelligence (AI) tools are becoming more embedded in consumers' financial lives, which could change how people budget, save and make financial choices. This may empower people but also raises questions around autonomy, digital exclusion and harm.Synthetic crime: Synthetic media is becoming harder to tell apart from real content. AI may manipulate not only what we see and hear (for example, audio and video deepfakes) but also our capacity to discern fact from fiction. This could expose consumers and firms to new forms of fraud and deception.Programmable finance: the underlying ‘plumbing’ of...10 June 2026
Data ReleaseCommentary on Mortgage lending statistics Q1 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 0.7% from the previous quarter to £1,746.1 billion, and was 2.6% higher than a year earlier (Table A). The value of gross mortgage advances decreased by 12.3% from the previous quarter to £69.6 billion, and was 10.2% lower than a year earlier (Table A and Chart 1). The value of new mortgage commitments increased by 11.5% from the previous quarter to £78.0 billion, and was 14.2% higher than a year earlier (Table A and Chart 1). The share...Consumer CreditMortgagesBanking9 June 2026
News & SpeechesOpening the door to mortgages: rules focused on better outcomes for peopleBuying a home is different now to even a decade ago.People are living longer, the way they work has changed and, for many, how much they earn can vary month-to-month. People will also carry mortgage debt for longer and use it more flexibly across their lives.That’s why we’re proposing changes to help more people to access a mortgage – including first-time buyers, older borrowers and the self-employed.More flexibility for how people live nowWe want to give mortgage lenders the flexibility to take a rounded view of someone’s finances – so they can offer a mortgage that fits real people’s real lives, not a standard template. This should help unlock access for some people who can afford a mortgage but find it difficult to access one.It could mean people with variable incomes – like the self-employed – can get a mortgage with more flexible repayments.And older homeowners may find it easier...Consumer CreditMortgages9 June 2026
News & SpeechesFCA proposes changes to help more people access mortgagesFirst-time buyers, older borrowers and the self-employed could find it easier to get a mortgage, as the FCA sets out next steps to help reform the market. Its proposed mortgage rule changes would give lenders more flexibility to consider individual circumstances and develop products that better meet people's needs – while maintaining strong consumer protections.They include:Reducing barriers for lenders to offer flexible repayments for people with variable income, like the self-employed, and lend to those paid in foreign currency.Encouraging lenders to assess affordability based on a person’s full and current situation, rather than automatically excluding people because of minor or past credit history issues.Making it easier for older homeowners to unlock wealth built up in their property by updating affordability guidance for retirement interest-only mortgages.Updating rules on interest-only (or part interest-only) mortgages to give lenders more flexibility, while ensuring most borrowers have a clear plan to repay (unless they’re borrowing...Consumer CreditMortgages9 June 2026 · deadline 28 Jul
ConsultationHigh impactCP26/18: Mortgage rule review – supporting first-time buyers and underserved consumersWe’re consulting on changes to mortgage lending rules to help more creditworthy consumers access suitable mortgages. ... Read CP26/18 (PDF) Update to CP26/18: On 12 June 2026, we made a minor amendment to paragraph 5.23 to reflect the Registry Trust’s role in advocating for the recording of partial settlements. Why we are consultingSome of our current rules may prevent creditworthy consumers from accessing mortgage products that suit their circumstances. We want to make targeted changes that give more people – including those with variable incomes, older borrowers, and those with past credit difficulties – a better chance of getting a mortgage they can afford.We’re proposing changes in the following areas:Interest-only and part-and-part mortgages.Retirement interest-only (RIO) mortgages.Variable and irregular income.Foreign currency loans.Credit impaired.Bridging loans.Our proposals keep responsible lending requirements in place and do not remove firms' duty to check that a mortgage is affordable. ... Who this is forThis consultation is...Consumer CreditMortgages9 June 2026 · deadline 28 Jul
News & SpeechesFCA takes action against Neil Woodford and W4.0 for operating without authorisationThe FCAhasstartedcivil proceedings against Mr Neil Woodford andW4.0.The FCAallegesthat Mr Woodford and W4.0 are providing regulated investment advice and making financial promotions through the subscription-based platform, www.w4pz.com, without authorisation.In the FCA’sview, the activitybreachessections 19 and 21 of the Financial Services and Markets Act 2000 (FSMA).The FCA is seekingan injunction against Mr Woodford and W4.0 tostop them carrying on the potentiallyunlawfulactivities.W4.0 is the trading name of W Four Point Zero FZE LLCand is registered in the United Arab Emirates.Payments8 June 2026
News & SpeechesFCA update on reforms to the UK Money Market Fund RegulationWe set out next steps on issuing new rules and guidance on Money Market Funds (MMFs), following Government plans to replace the current rules. On 15 May, the Government set out its expectation that it will lay legislation that will replace the UK Money Market Funds Regulation. Read the Government statement.Money Market Funds (MMFs) play an important role in the financial system. MMFs are widely used for cash management and provide an alternative or complement to bank deposits for a broad range of investors. However, recent periods of market stress have highlighted the need to strengthen the resilience of these funds.Banking8 June 2026
News & SpeechesFCA secures confiscation order against Ponzi scheme fraudsterThe FCA has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh. Mr Pugh, 36, is serving a 7 years and 6 months prison sentence for defrauding investors out of £1.3m.Run from his bedroom in Devon, Pugh used Facebook adverts to target investors and promised them wholly unrealistic returns, claiming these would be generated by trading across various markets.Only 19% of the funds collected from investors were traded and the scheme was, in effect, a Ponzi scheme, which was run with another individual.At a hearing at Southwark Crown Court on 5 June 2026, Mr Pugh was ordered to pay £452,286.80. This represents the total value of the assets the court found available for recovery. The funds will be used to compensate the victims of his crimes. Steve Smart, executive director of enforcement and market oversight at the FCA, said: 'Fighting financial crime is a key priority for the...8 June 2026 · deadline 30 Jun
News & SpeechesAI in financial services: shaping our approach through industry engagementFirms are using AI to drive efficiency, support decision-making and deliver better outcomes for consumers and markets. We want to support that innovation. But it must be safe, responsible and well governed.We have been clear that we are not going to introduce new regulations for AI. Instead, we’ll rely on existing frameworks, including the Consumer Duty, the Senior Managers and Certification Regime (SM&CR), and our expectations on governance and controls.We recognise that AI can raise new and practical questions, and we want to help industry to tackle these. So, we are speaking to firms on topics such as:How firms oversee and govern AI.How they test models and monitor outcomes.How they ensure fair treatment for customers, including those with features of vulnerability.How they explain AI-driven decisions.We will share good and poor practice later this year on questions like these to better support firms in adopting AI safely and responsibly and as...8 June 2026
News & SpeechesConsumers warned about misleading car finance 'money tips' claims adsConsumers are being warned to be wary of misleading car finance 'money tips' adverts issued by claims management companies (CMCs) and law firms on social media. As part of the joint regulatory taskforce, the FCA has identified a growing number of adverts that appear to offer independent advice from an individual but are in fact paid promotions from CMCs and law firms encouraging people to sign up for motor finance claims.Consumers should be aware that some adverts:Pose as impartial advice from individuals, without clearly saying they are promoting a business.Misuse logos, imagery or references linked to well-known companies, media outlets or public bodies or figures to falsely suggest their approval or endorsement. The FCA recently banned adverts from a CMC which used edited, unauthorised clips of Martin Lewis, Money Savings Expert, to make misleading claims about average car finance compensation. Fail to make clear that you can make a claim...Consumer CreditBanking8 June 2026
News & SpeechesFCA imposes requirements on Euro Exchange Securities UK Limited and interim managers appointed by the CourtOn 4 June 2026, the FCA required Euro Exchange Securities UK Limited (EES) to cease carrying out any regulated electronic money or payment services and, on the FCA’s application, interim managers were appointed by the Court over EES. Serious concerns around the way EES operated its business indicated there were significant risks of financial crime. This includes systemic weaknesses in the firm’s financial crime framework and safeguarding arrangements, alongside its ownership and governance. These risks could have had an impact on both consumers and the integrity of the market.The appointment of the interim managers was made by the Court under the Payment and Electronic Money Institution Insolvency Regulations 2021.EES will have an opportunity to be heard on 11 June 2026, following which the Court may lift the current order or place EES into special administration.Notes to editorsDuncan Perring and James Bennett of Teneo Financial Advisory Limited have been appointed as...PaymentsConsumer Credit5 June 2026
News & SpeechesSolvenza Limited in administrationOn 28 April 2026, Solvenza Limited (Solvenza) entered administration. Louise Longley and Julian Pitts of BTG Begbies Traynor (Central) LLP (Begbies) were appointed joint administrators. Solvenza (Firm Reference Number: 718517) is regulated by the FCA, authorised to carry out debt purchasing and debt collection activities, which provide debt resolution solutions to consumers.The joint administrators are responsible for managing the affairs of Solvenza during the administration process.Debt Collection Services UK Limited (DCS) has been instructed by the administrators to collect debts owed to Solvenza over the course of the administration.The joint administrators have advised that consumers should continue to make repayments based on existing loan agreements and any arrangements that are in place.The FCA is working closely with Solvenza and the joint administrators to make sure consumers are treated fairly.5 June 2026
News & SpeechesSilicon Marketing Limited in administrationOn 21 May 2026, Silicon Marketing Limited (Silicon) entered administration. Carrie James and Nick Parsk of Oury Clark were appointed as joint administrators. Silicon (Firm Reference Number: 674008) is regulated by the FCA, authorised to carry out debt purchasing and debt collection activities, which provide debt resolution solutions to consumers. The joint administrators are responsible for managing the affairs of Silicon during the administration process.The joint administrators have advised that all existing loan agreements remain in place and will not be affected by the administration.The joint administrators have advised that customers should continue to make repayments based on existing loan agreements and any arrangements that are in place.The FCA is working closely with Silicon and the joint administrators to make sure consumers are treated fairly.5 June 2026
Data ReleaseAppointed representatives dataWe present data on the appointed representatives population and financial services activity. This data is updated every 6 months. ... The appointed representatives (AR) regime plays a crucial role in how consumers interact with financial services. We are focused on strengthening principal firm oversight of ARs and our commitment to being a smarter data-led regulator shapes the work we do to deepen trust, rebalance risk, support growth and improve lives. ... Data collection We collect data on principal firms and appointed representatives through principals completing 'Add, Change and Terminate AR' forms and REP025 data submissions. We also make use of other data that is provided by firms, like the Retail Mediation Activities Return (RMAR).Add, Change and Terminate AR data helps us understand the main reason for appointing the AR, the nature of the AR’s activities, and expected revenue from regulated and non-regulated activities.REP025 data is submitted annually by principals 60...Consumer CreditInsurance5 June 2026
ConsultationHigh impactCP26/17: Quarterly consultation paper No. 52Once 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 CP26/17 (PDF) ... What we are consulting on this quarterProposed changes:Following a post-implementation review of our climate disclosure rules for asset managers, life insurers and FCA-regulated pension providers, we are proposing to make changes to the product-level disclosure requirements in ESG, with consequential amendments in other areas of the Handbook. This aims to simplify the rules while maintaining our original policy intention, as set out in Policy Statement (PS) PS21/24.To amend FEES 4 Annexes 1A, 2A, 11A and 13 to set regulated income as the tariff base for Cryptoasset firms. To insert 3 additional rows to FEES 5 Annex 1R to account for new regulated cryptoasset activities.The Treasury published an approach to revoking provisions of the UK Capital Requirements...Insurance5 June 2026 · deadline 13 Jul
News & SpeechesBank of England and FCA MoU on supervision of market infrastructure: 2025/26 reviewThe Bank of England has published a joint review with the FCA on how the Memorandum of Understanding (MoU) for financial market infrastructure (FMI) is working. The Bank of England and the FCA (the authorities) cooperate on the supervision of FMIs.The authorities consulted with FMIs to assess the effectiveness of cooperation between the Bank and FCA over the past 12 months.Following the responses, the authorities have concluded that the arrangements for cooperation remain effective with appropriate coordination and no material duplication.Both authorities remain aware that, through efficient coordination, we can improve the effectiveness by which we supervise firms.See the findingsConsumer CreditBanking5 June 2026
News & SpeechesSimpler climate reporting rules could save firms £20m annuallyInvestment firms could save around £20m a year under new proposals from the FCA to simplify climate reporting for investment products. The FCA estimates it could deliver these savings by replacing detailed product-level reports based on the Task Force on Climate-related Financial Disclosures (TCFD) with simpler, more targeted information for retail investors, in line with the Consumer Duty.The changes aim to give investors clearer insight into how climate risks – such as floods, storms and other extreme weather events – could affect investment performance, while reducing unnecessary costs to firms.Michelle Beck, director of wholesale buy-side at the FCA, said:'As part of being a smarter, more proportionate regulator, we’re cutting complexity in our rules for asset managers, while keeping the focus on clear, useful information for investors.'These proposals will make it easier for firms to communicate with their customers in ways that genuinely inform and engage them.'The proposals follow a review...PaymentsInvestmentBanking5 June 2026
News & SpeechesFCA launches investigation into second motor finance claims management companyThe FCA has opened an enforcement investigation into Consultation Claims Limited (CCL) following concerns about its conduct in the period April 2025 to December 2025 in relation to motor finance claims. The FCA is investigating concerns that consumers may have been signed up during the period April 2025 to December 2025 without their consent, with some allegations that signatures have been forged. The FCA is investigating the full customer journey, including how customers were contacted, what they were told during and after sign-up, and the information they were given about exit fees.Announcing the investigation allows consumers who may have unknowingly been signed up or who may have been presented with documents purporting to be signed by them when they have not, to complain to CCL. If those customers are not happy with the firm’s response, they should complain to the Claims Management Ombudsman.The FCA has not reached any conclusions as...Consumer Credit4 June 2026