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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 411.

News & SpeechesLegal challenges to motor finance compensation scheme - update for firms and consumersFollowing the legal challenges to our motor finance compensation scheme, we are setting out further advice for firms and consumers. Our priorities remain to secure fair compensation for consumers as quickly as possible and ensure a healthy motor finance market.Our industry-wide scheme is the quickest, fairest and most cost-effective way to do this. As we have said, we welcome the commitment of most lenders to implement the scheme and will defend it robustly.We have summarised below the grounds of challenge we have received.It is unclear when the case will be heard. It is unlikely to be before October. We are engaging with the Tribunal and those who have challenged the scheme on the possibility of suspending some elements of it while retaining those relating to preparatory work. We will provide a further update as soon as possible.We recognise the operational strain and uncertainty firms face. We also acknowledge the frustration...Consumer Credit8 May 2026
News & SpeechesKanda Products & Services Ltd enters liquidationOn 6 May 2026, Kanda Products and Services Ltd (Kanda) entered liquidation. Philip Harris and Neville Side of FRP Advisory Trading Limited have been appointed as Joint Liquidators. Kanda is authorised by the FCA as a credit broker. It operated a network of around 700 introducer appointed representatives, mainly tradespeople who introduced consumers to finance for home improvement and other goods and services.On 16 February 2026, Kanda agreed to a voluntary requirement with the FCA which restricted it from appointing new appointed representatives while it addressed weaknesses in its systems and controls. Details of this restriction are available on the Financial Services Register (FS Register).On 6 May 2026 Philip Harris and Neville Side of FRP Advisory Trading Limited were appointed as Joint Liquidators of Kanda.The Joint Liquidators are responsible for managing the affairs of the firm during the liquidation process and can be contacted using the details below: Email: kandaproductandservices@frpadvisory.comTelephone:...Consumer Credit7 May 2026
News & SpeechesCompetition Act 1998 investigationsFollowing the publication of financial reporting by PayPal Holdings Inc, we can confirm we are investigating Mastercard, PayPal and Visa under Chapter I in the Competition Act 1998, and Mastercard and Visa under Chapter II in the Competition Act 1998, for suspected anti-competitive conduct linked to thefunding and usage of PayPal’s digital wallet.The FCA has reached no conclusions nor made any findings with regard to competition law having been broken.Notes to editorsThe Competition Act 1998 prohibits agreements, practices and conduct that may damage competition in the UK.The Chapter I prohibition in the Competition Act 1998 prohibits agreements, concerted practices and decisions by associations of undertakings which have as their object or effect the prevention, restriction or distortion of competition within the UK or a part of it and which may affect trade within the UK or a part of it unless they are excluded or exempt.The Chapter II prohibition in...Consumer Credit6 May 2026
News & SpeechesFCA to review claims management practicesWe are launching a review of the claims management market, following concerns that consumers are being failed by some claims management companies (CMCs) and law firms. The review will look at the root causes of poor practices across the market, like aggressive marketing, misleading advertising and unfair exit fees. Other concerns include consumers being signed up without their consent - without clear, upfront explanations of the implications of signing up or ticking a box, for example on social media adverts - or by multiple representatives, potentially causing confusion and delaying compensation.While the approach to motor finance claims by some CMCs and law firms has put these issues into sharper focus, we are also concerned about the handling of other claims, such as housing disrepair. Last year, we set out areas where firms were not meeting our expectations (PDF), but we and other regulators continue to see poor behaviours. Working in...Consumer CreditInsurance6 May 2026
News & SpeechesThree arrested in FCA investigation into suspected unlawful financial promotionsThree people have been arrested as part of a crackdown on suspected illegal financial promotions. Two homes in the Chelmsford and Romford areas were searched, as part of an operation led by the FCA and the Eastern Regional Special Operations Unit (ERSOU), a specialist policing unit that tackles serious and organised crime.Adverts from firms that aren't FCA-regulated can be a warning sign of a scam. If something goes wrong, these firms aren't covered by the rules that protect people's money – meaning you could lose it with no way to get it back. If you're thinking of investing or dealing with a firm, use the FCA Firm Checker to confirm it’s authorised.All 3 individuals have been interviewed under caution.The investigation is ongoing, and further updates will be provided in due course.Notes to editorsThe Financial Services and Markets Act 2000 gives the FCA powers to investigate and prosecute unauthorised business cases.Breaching...1 May 2026
News & SpeechesIndependent assessment of proposals to establish an open banking standards-setting bodyThe FCA has published an independent assessment report prepared by KPMG on proposals to lead the establishment of a future open banking standards-setting body. ... Read the report (PDF)This independent assessment was commissioned to support decision making at a time when industry is leading the development of arrangements for a standards-setting body capable of becoming the Future Entity (FE), subject to any future legislative framework. It was developed and carried out independently by KPMG.KPMG have engaged with Open Banking Limited, Smart Data Group, members of the independent evaluation panel, and wider industry stakeholders.The report is being published to ensure broad and transparent access for stakeholders across the open banking ecosystem. It is intended to support industry considerations for next steps for the Future Entity.In the coming weeks, the FCA will publish an additional report prepared by KPMG, setting out considerations relevant to how the Future Entity could be operationalised.We recognise...PaymentsBanking1 May 2026
News & SpeechesFCA statement on legal challenges to motor finance schemeOur objective has been, and remains, to ensure consumers receive fair compensation as quickly as possible and to maintain a healthy motor finance market. An industry-wide scheme is the fastest, simplest route for consumers and the most efficient way for firms to put things right and give certainty to their investors. Alternative approaches would be slower and much more costly for firms.We engaged widely in designing the scheme. While being clear not everyone would get everything they would like, we made changes to reflect feedback from both consumer groups and lenders. The final scheme is fair to consumers and proportionate for firms.We welcome the broad support for the scheme and the commitment from most lenders to implement it. They have taken a pragmatic approach, recognising that introducing a scheme on this scale promptly has required us to make judgements to simplify in a reasonable and lawful way some complex legal...Consumer Credit1 May 2026
News & SpeechesFCA charges Shaun Lawrence for unauthorised mortgage brokingThe FCA has charged Shaun Lawrence for operating as a mortgage broker without authorisation. Mr Lawrence, who also goes by the names Shaun Lawrence-Bright and Shaun Bright, was previously authorised to give mortgage advice.However, in 2008 he had his permissions revoked and was fined. He was also banned from working in a regulated role within financial services.The FCA alleges that Mr Lawrence has breached the Financial Services and Markets Act by continuing to provide mortgage broking services when already banned.Mr Lawrence will appear before Hull Magistrates' Court on 2 July 2026.Notes to editorsShaun Lawrence was born on 15 August 1967.The FCA alleges that Mr Lawrence breached Section 19 of FSMA by carrying on regulated activities without FCA authorisation. The alleged regulated activity being carried out was Article 25A of the Regulated Activities Order – arranging regulated mortgage contracts.Find out more about the FCA.Mortgages30 April 2026
News & SpeechesCryptoasset firms can request pre-application meetings from 11 May 2026From 11 May 2026, cryptoasset firms preparing for the new FSMA regime will be able to request a pre-application meeting with us via our Pre-Application Support Service (PASS). Pre-application meetings are free of charge and give firms the opportunity to discuss their plans with us and ask questions before submitting an application for authorisation or variation of existing permissions.This comes ahead of the new regime for cryptoasset regulation, where firms wanting to undertake the new regulated cryptoasset activities will need to be authorised by us.The pre-application meetings will take place from July 2026 but we will schedule them as requests come in.The authorisation gateway will open on 30 September 2026 and the new regime will commence 25 October 2027.Find out more about the new regime for cryptoasset regulation.30 April 2026

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News & SpeechesA reform-minded regulatorSpeech by Nikhil Rathi, FCA chief executive, at the Association of Foreign Banks (AFB) luncheon. When I saw that a boxing ring had been temporarily installed in this room last autumn, I wasn’t quite sure whether it was a warning to us regulators…Or some kind of art installation commenting on the past few years in financial markets.At some points it has felt bruising, to say the least.Some pressures have been sharp and immediate – geopolitical shocks, sudden market events.Others slower but no less significant – shifting liquidity, evolving market structures.And then areas moving at exceptional pace – particularly in technology – where the direction of travel is clear, even if the endpoint is not.We are hearing how difficult it is to make decisions with confidence, not just today, but for the longer term.So the question for regulators is: how do we contribute to the conditions you and your customers need...BankingCorporate Finance30 April 2026
News & SpeechesFCA sets out guidance to support innovation in fund tokenisationAsset managers will find it easier to unlock the benefits of fund tokenisation, following the publication of new guidance by the FCA. The guidance sets out how firms can use distributed ledger technology (DLT) within the regulator’s existing rules.New rules will also make fund dealing more efficient, including an optional Direct to Fund (D2F) model. This enables investors to deal directly with the fund, whether traditional or tokenised.Tokenisation is a way of representing an asset, or ownership of an asset, using distributed ledger technology. Tokenisation has the potential to lower costs and open up investment opportunities to a wider audience.The FCA has worked closely with industry to develop this guidance and rules to support innovation and improve efficiency for asset managers.Simon Walls, executive director of markets at the FCA said:'Tokenisation has the potential to play an important role in asset management, and its adoption will be driven by firms and...30 April 2026
News & SpeechesStatement on complaints about Wellesley & Co LtdWe have written to people who complained about how we handled Wellesley & Co Ltd (WCL). Complainants raised concerns about our actions in relation to the wider Wellesley Group. WCL was the only FCA-regulated company in the Group and was responsible for approving financial promotions marketed to investors.We carefully reviewed all the complaints that were made and upheld one about how part of WCL's authorisation process was handled at the time. However, we found this did not cause investors' losses. Those losses resulted from the failure of unregulated companies within the Wellesley Group, not from how WCL was authorised. We have not found that WCL should not have been authorised.We are sorry that complainants suffered financial loss and have a great deal of sympathy for their situation.We have apologised to complainants for the failing identified. A decision letter has been issued to complainants today.Consumer Credit30 April 2026
News & SpeechesFCA reviewing whether APRs support consumers’ choicesThe FCA is reviewing whether Annual Percentage Rates (APRs) help consumers understand borrowing costs andis seeking views on whetherit should changehow these are communicated in credit advertising. APRsindicatethe yearly cost of borrowing, including interest and fees. A representative APR means at least half of consumers receive that rate or better. Current rules require representative APRs in most credit advertising.Research, published today, shows APRs are useful for comparing products, butadditionalinformation like total repayment figures can also help consumer understanding.But providing different information tailored todifferent productscan sometimes make comparison harder and confusing.Theresearch showed that, among those shown APR alone,80% of people correctlyidentifiedthe cheapest product when the lower APR meant a lower repayment. Fewer than 1 in 5 did so when the lower APRdidn'tmean cheaper borrowing.Proposals to simplify parts of the Consumer Credit rule book on credit advertisinghavealso been published.Theseaimto remove duplication and outdated requirements where the Consumer Duty already sets clear expectations...Consumer Credit29 April 2026
News & SpeechesResearch Note: Navigating the disclosure trade-off: Balancing flexibility and standardisation in cost-of-credit informationThis Research Note explores the potential trade-off between the standardisation and comparability provided by a rules-based regulatory approach and the effects on consumer understanding of the more flexible, outcomes-focused Consumer Duty. ... This online experiment compared how different types of cost-of-credit information influenced consumers’ ability to compare the cost of credit products.Read the research note (PDF)Read the research note annex (PDF)Key findings Participants had a poor understanding of annual percentage rate (APR) and the impact of repayment duration on total cost. Despite poor consumer understanding of APR, it appeared to be an important metric for making credit decisions, with many participants adopting a ‘low APR = low total cost’ rule of thumb when deciding which products cost less in total. However, the ‘low APR = low total cost’ rule of thumb was often applied even when it did not hold true. Providing APR for one product and not for another...Consumer Credit29 April 2026
News & SpeechesLCM Family Limited enters administrationOn 28 April 2026, LCM Family Limited (LCM) went into administration. Louise Longley and Gary Shankland of BTG Begbies Traynor (Central) LLP were appointed as joint administrators of the firm. The joint administrators are responsible for managing the affairs of the firm during the administration process.LCM (previously known as LCM Wealth Management Limited) is authorised by the FCA and provided financial advice and related investment services. LCM is also regulated by the Solicitors Regulation Authority (SRA) to provide legal services. On 14 April 2026 LCM agreed to a voluntary requirement with the FCA, restricting the activities it can undertake.The FCA continues to supervise LCM and will work closely with the joint administrators. Below we set out:What to do if you are concerned about your investments.How to contact the joint administrators.How to protect yourself from fraudsters claiming to act on behalf of the firm or the joint administrators.Consumer CreditInvestment29 April 2026
News & SpeechesTrust, tradition and the future of mutual growthSpeech by Sarah Pritchard, FCA deputy chief executive, at the BSA Annual Conference, Edinburgh. As a history lover, it’s thrilling to be in a city like Edinburgh – called a ‘hot-bed of genius’ during the Scottish Enlightenment.What defined the Enlightenment spirit was the refusal to settle, and a determination to make things better for the future.It’s the kind of approach I’m taking to this moment of regulatory reform.Working with others to solve difficult problems, protecting trust and good outcomes, and modernising where we can – so the framework supports growth and innovation.Both now, and in the future.Everyone in this room is well-placed to help shape what comes next.You’ve already laid a strong foundation, bringing diversity, competition and resilience to the financial sector.And helping consumers build their financial confidence, buy their first homes and find community.Now is the time to build on that foundation and create the space to grow.Corporate Finance28 April 2026
News & SpeechesFCA invites ESG rating providers to join a voluntary reporting pilotHelp us develop a proportionate reporting regime for ESG ratings. Register your interest by 13 May 2026. We're inviting ESG rating providers to join a pilot to inform future regulatory reporting once the regime is live.Our aim is to avoid unnecessary reporting burden for firms over time.The pilot aims to help us assess whether the proposed metrics for ESG ratings reporting are:clearfeasibleproportionate across different business modelsuseful for supervisory purposesParticipants will have a direct opportunity to inform:the design of the future reporting frameworkregulatory reporting requirementsBased on your feedback, we may revise the metrics for the eventual reporting regime.28 April 2026 · deadline 13 May
News & SpeechesMotor finance compensation scheme challengedOur scheme is the quickest, fairest and most efficient way to compensate consumers. It is disappointing that some have decided to challenge it and delay consumers getting their money back, when for many the payouts would be very welcome this year as they face rising household bills. This also prolongs the uncertainty for all involved, which is not good for investment or a healthy motor finance market.We are considering our approach and will set out more later this week.27 April 2026
News & SpeechesFCA consults on changes to IPO research rulesThe FCA is seeking views on proposals to change rules that govern the publication of research during the initial public offering (IPO) process. The FCA is consulting on removing the requirement for a 7-day delay before connected research on an IPO can be published. It also consults on removing rules that require firms to provide independent analysts with the same information as their own research analysts.These rules were introduced in 2018 to encourage the production of unconnected research, but they have not achieved that aim. However, feedback from the market suggests that they have also added complexity, risk and cost to the IPO process, and have put the UK at a competitive disadvantage compared with other international listing venues.Removing these requirements would simplify the IPO process and improve the conditions for listing in the UK. This would support the FCA’s work to strengthen the UK’s capital markets and to support...Corporate Finance27 April 2026 · deadline 29 May
News & SpeechesFCA Board appoints 2 new members to the Regulatory Decisions CommitteeThe FCA Board appoints new members to decision-making committee. The Board of the FCA has appointed Jonathan Peddie and Raymond Cox KC as new members of the FCA’s Regulatory Decisions Committee (RDC).The RDC is responsible for taking certain regulatory decisions on behalf of the FCA relating to contested enforcement action. Committee members bring a broad range of professional experience to support fair, independent and evidence-based decision-making.Alison Potter, the chair of the RDC, said:'I am delighted to welcome our new members to the committee. Both Raymond and Jonathan bring significant legal and financial services expertise and regulatory enforcement experience, which will complement existing committee members and enhance the overall capability and effectiveness of the RDC.'Notes to editorsMore detail about the work of the RDC is available on the FCA website, including the biographies of all committee members.The RDC is an FCA Board Committee that is operationally separate from the rest of...27 April 2026
News & SpeechesCyber Coordination Group insights 2025This is a summary of discussions held throughout 2025 with industry members of our Cyber Coordination Group (CCG) programme. ... CCG members shared cyber resilience insights on 3 topics:Incident response practices and recovery at scale.Implications for cyber security of AI, quantum computing, and other emerging technology.Insider risk management.Our CCG programme brings together up to 140 firms. Members have contributed their insights into these topics, and we’ve included those that reflect what’s worked well for CCG members and the challenges they’ve found within their firms.By publishing this, we’re not introducing any additional regulatory expectations – we’re making these insights available so that firms can consider them in the context of our existing expectations, learn from others, and strengthen their cyber resilience capabilities. ... Who this publication applies toCyber resilience leaders.Operational resilience leaders.Operational risk professionals.Internal audit professionals.Cyber resilience specialists.24 April 2026
News & SpeechesFCA spearheads global action to stop illegal finfluencersThe FCA has led international action to stop illegal finfluencers putting consumers' money at risk. Seventeen regulators worldwide took part in the 'week of action' which included enforcement activity, consumer awareness campaigns, and educational programmes for finfluencers who want to act responsibly. Activity started on 20 April 2026.In the UK, the FCA:Secured a guilty plea from Geordie Shore’s Aaron Chalmers for illegal promotions on social media. Criminal proceedings have been commenced against a further 2 individuals for similar offences. Sent 4 targeted warning letters to individuals suspected of engaging in unauthorised financial promotions.Issued 34 warning alerts against unauthorised firms or individuals, and updated an additional 14 warnings.Made 120 account takedown requests to social media platforms hosting illegal finfluencer content. Within these accounts, the FCA identified 1,267 illegal financial adverts, which reached a minimum of 2,338,372 UK accounts. 66% of these adverts were from firms or individuals already on the FCA's...PaymentsInvestmentBanking24 April 2026
News & SpeechesSapia agrees to pay more than £19m to WealthTek clients after failing to protect client moneySapia has agreed to make a voluntary payment of £19,637,950 to WealthTek clients and the FCA has censured the firm. Sapia began working with WealthTek in 2013 and later appointed it as one of its appointed representatives. This resulted in Sapia holding and being responsible for protecting client money resulting from WealthTek’s activities.The FCA found Sapia did not put enough safeguards in place to protect this money.Sapia has admitted that it failed to properly separate key roles within its business relating to client money. People who could make payments from client money accounts also carried out the checks of those accounts required by FCA rules. This lack of separation increased the risk that client money could be lost because of, for example, misuse or poor management.The voluntary payment will be distributed to WealthTek clients who have a shortfall in the money they have been able to reclaim.In December 2024, the...Consumer CreditBanking23 April 2026
News & SpeechesFCA calls on law firms and claims management companies to consider the position of their clientsWe’ve no vested interest in setting up a motor finance redress scheme. What matters to us is getting fair compensation for consumers as quickly as possible and supporting a healthy motor finance market for the future.That's what our scheme will do, and it's free for consumers to use.Learn more about our motor finance redress scheme.Any law firm or claims management company (CMC) involved in a potential challenge against the scheme that also has clients making motor finance claims should consider their position and that of their clients carefully.At the very least, they should write to those clients to explain they’re involved in a challenge that’s likely to delay compensation.They should give those clients the option of exiting the contract and strongly consider waiving any fees.Our scheme will put £7.5bn back in people’s pockets. Some have already waited over 2 years for a response to their complaint. With pressure on household...23 April 2026
News & SpeechesFCA publishes findings from financial adviser market surveyWe have published findings from our Financial Adviser Survey. The findings provide an updated picture of how the UK financial advice market is evolving and what this means for firms, consumers and future growth. The survey brings together responses from more than 4,100 financial advice firms; alongside analysis of data we already hold on around 31,000 advisers.Overall, it shows a market that remains broadly stable and continues to support millions of clients, even as firms adapt to consolidation, new business models and technology.Key findings include:Firms responding to the survey advise on around £1 trillion of assets for more than 4.1 million clients, highlighting the scale of advice being delivered.Large firms account for around 50% of assets under advice, all firms play an important role through relationship led and local advice.Adviser numbers have remained broadly steady at around 31,000 since 2023, despite a 15% fall in the number of authorised advice...Consumer CreditInvestment23 April 2026
News & SpeechesUnderstanding the advice market: financial advice firms survey 2025This report presents findings from the FCA’s 2025 survey of financial advice firms. Alongside other data, it provides an evidence-based view of the sector, business models and capacity. ... Financial advice helps people manage their pensions and investments, so they can make the most of their money. Consumers value this advice. In our Financial Lives 2024 survey, 87% of consumers reported the advice they received was clear and understandable, and 85% said they were confident in it. Almost two-thirds (63%) said they’d be very likely to use the same adviser again. Financial advisers play a key role in our priorities to build a stronger investment culture, strengthen trust, and secure good consumer outcomes. We want to see a competitive, innovative and resilient financial advice market that supports sustainable growth alongside newer regulatory offerings such as targeted support and more simplified forms of advice to meet consumers’ needs. Data is a...Investment23 April 2026
News & SpeechesFCA looks for members for its advisory committee on secondary marketsThe FCA is looking for expressions of interest from market participants to join our advisory committee. The committee was established in 2022, and we are renewing the membership in line with our terms of reference.The purpose of the committee is to support our work in wholesale secondary markets for equities, derivatives, fixed income and commodity derivatives.The committee’s task is to:help develop reforms that improve market competition, increase consumer protection and enhance the integrity of marketsidentify market changes that may affect the proper functioning of secondary marketsprovide data and analysis to support policy reformsThe committee is chaired by the FCA and is composed of 25 senior individuals from firms active in financial markets, who are experts in how secondary markets function.Members are appointed in a personal capacity.We will aim to have a balanced representation across the different types of firms active in wholesale markets.We will also seek to ensure appropriate diversity...23 April 2026
News & SpeechesGetting firms fit to runSpeech by Sheree Howard at the APCC Spring Conference 2026. This weekend, tens of thousands of runners will line up in Greenwich Park for the start of the London Marathon.Well done to them – a Netflix marathon is much more my speed.Unlike what’s needed to prepare for a Netflix marathon – opening a bag of sweet and salty popcorn – Sunday’s runners will have been training for months. Many even years.And nearly all will have had support along the way, whether from a coach, physio or friend at a parkrun.What strikes me about that relationship is where the responsibility sits.A coach designs the programme, corrects the technique and knows how to get a runner to the start line in the best possible shape.But they’re not the ones lacing up their trainers. The runner is.Getting authorised is more like a marathon than it might seem.Filled with documents, deadlines and – let’s...22 April 2026
News & SpeechesFCA and PRA confirm changes to streamline senior manager accountability and boost growthFirms willbenefitfromreduced costs andgreater flexibility, andfind it easier tocomply with the Senior Managers and Certification Regime (SM&CR),following reformsset outon 22 April by theFCA and Prudential Regulation Authority (PRA). The changes, which come as the first phase of a multi-stage package of reform from the Government and regulators, will maintain the core principle of senior leader accountability, and will benefit firms by:Giving more time to submit senior manager applications when there has been an unexpected or temporary change.Removing the need to certify people to hold multiple overlapping functions, which will reduce the total number of certification roles required by around 15%.Helping to streamline annual checks to certify individuals as ‘fit and proper’.Making only larger, more complex firms meet enhanced standards, by raising many of the enhanced firm thresholds by 30%.Helping to better understand the definition of certain senior management roles.Allowing more time to report updates to senior manager responsibilities.Increasing how long...22 April 2026
News & SpeechesFCA leads first crackdown on illegal crypto tradingThe FCA has carried out its first operation with partners to disrupt illegal peer-to-peer crypto trading across multiple London locations. Working with HM Revenue & Customs (HMRC) and the South West Regional Organised Crime Unit (SWROCU), the FCA targeted 8 premises suspected of illegal peer-to-peer crypto trading. The FCA issued cease and desist letters at each site, notifying traders to stop illegal activity immediately. Evidence obtained during the on-site inspections is supporting a number of ongoing criminal investigations.Peer-to-peer trading is when individuals buy and sell crypto directly with each other, rather than using a centralised exchange and requires appropriate registration. There are currently no FCA registered peer-to-peer crypto traders or platforms operating in the UK.Steve Smart, executive director of enforcement and market oversight at the FCA, said: 'Unregistered peer-to-peer crypto traders operating in the UK are doing so illegally and pose a financial crime risk. We will use our powers...Payments22 April 2026
News & SpeechesManaging potential risks from inactive appointed representativesRead our review of good practice and areas for improvement we have seen in our supervisory work related to inactive appointed representatives (ARs).21 April 2026
News & SpeechesSupporting fintech in the next phase of innovationSpeech by Jessica Rusu, FCA chief data, information and intelligence officer at IFGS. Key pointsAgentic commerce will change how financial decisions and transactions are made, demanding a fundamentally new approach.We are expanding practical support for firms through the next phase of our AI Lab.Open Finance will provide the foundations of a more intelligent financial system.We are supporting solo-regulated firms scale, with our Scale-Up unit open for expressions of interest.21 April 2026
News & SpeechesJoin the Financial Services Consumer Panel – vacancies now openHelp shape financial regulation from the perspective of consumers. We are recruiting 2 new members to the Financial Services Consumer Panel, an independent statutory panel that represents the interests of consumers of financial services to the FCA.Panel members provide constructive challenge and expert advice to help ensure the consumer perspective is fully embedded in the FCA’s policy development and implementation. Members engage regularly with senior FCA colleagues, including the chair, chief executive and Executive Committee, and contribute across a wide range of current and emerging issues affecting consumers.We are looking for individuals with strong expertise and experience in areas such as consumer policy, behavioural insights, innovation and technology, fintech or digital markets, retail banking, investments and payments.We welcome applicants with a clear commitment to representing the interests of consumers from across society.The closing date for applications is 15 May 2026.Find out more and apply via the FCA Careers website.Banking20 April 2026
News & SpeechesMarket soundings in UK equity capital markets – wholesale banksWe analysed the impact of market soundings on market quality in equity capital market (ECM) transactions in UK listed shares. These are our findings.20 April 2026
News & SpeechesInnovation insights 2025Fintech is moving fast – this report explores what’s changing, where the risks are shifting, and how FCA innovation services are helping firms test and scale responsibly. ... The UK is one of the world's leading centres for financial innovation.This report brings together what we are learning from fintech market developments and how firms are using our innovation services.By sharing these insights, we aim to support earlier, clearer regulatory engagement and strengthen evidence-led policy and supervision in line with our strategy 2025 to 2030.Read the full report (PDF) ... What we foundCapital is flowing more selectively.In 2025, global fintech investment exceeded $130 billion across more than 4,500 deals, but funding concentrated in fewer, larger and more mature firms. The UK ranked second only to the US, with 445 deals and $15 billion in disclosed investment.Firms are seeking regulatory clarity earlier. As technology advances, the key challenge has shifted from building...PaymentsConsumer CreditInsurance20 April 2026
News & SpeechesHDH Investment Services Limited enters liquidationOn 16 April 2026, HDH Investment Services Limited (HDH), which advised on and arranged deals in investments, entered Creditors’ Voluntary Liquidation (CVL). Dina Devalia and Tom Parish of Quantuma Advisory Limited (Quantuma) have been appointed as joint liquidators.On 20 January 2026, HDH agreed to stop carrying out any regulated activity. This was because we were concerned that HDH may have given unsuitable financial advice to some of its customers, potentially leading to financial loss.HDH remains subject to supervisory oversight and our rules, and we are working closely with the joint liquidators.Consumer CreditInvestment17 April 2026
News & SpeechesYear 2 Consumer Duty Board Reports: progress and what comes nextUnder the Consumer Duty, firms must report annually on what their monitoring found about customer outcomes, and what actions they’ll take as a result.Good Consumer Duty Board reports provide clear evidence about outcomes – helping to turn governance into real change. Boards can ask better questions, hold people to account, and act quickly to make sure they aren’t causing harm or offering poor value. We’ve seen this lead firms to design better products, communicate more clearly and support their customers better. This means they fix issues sooner, and customers are more likely to get fair value and the help they need.With the third cycle of Consumer Duty Board reports on the horizon, now is a good moment to pause and reflect on what we’ve learned from year 2.The good news: the Duty is making a difference. Firms are continuing to mature in how they use data and insights to understand...Consumer Credit16 April 2026
News & SpeechesFCA introduces clearer and simpler short selling rulesThe FCA has finalised a simpler UK short selling regime that reduces reporting burdens for firms, while maintaining regulatory oversight. Short selling plays an important role in financial markets by supporting price formation, providing liquidity, and facilitating risk management.The new rules follow legislative changes under the Government’s repeal and replace programme, which imply that the FCA will publish aggregated data showing the overall size of net short positions in each company rather than identifying individual short sellers.As well as implementing these changes, the new rules set out how the FCA will oversee short selling in a more proportionate and practical way.Firms will benefit from a more workable reporting timetable, with extra time to calculate and submit short position reports. In addition, rules for market makers have been simplified allowing eligible firms to make far fewer notifications to us about exemptions, replaced by an annual confirmation. This cuts administrative effort while...16 April 2026
News & SpeechesFCA consults on guidance on UK’s future crypto regimeCrypto will be regulated in the UK from October 2027. The FCA is finalising the wider cryptoasset regime, with rules to be published this summer. Parliament has now confirmed which cryptoasset activities will fall within the scope of regulation. Building on that, the FCA is consulting on new guidance to help firms understand how they might be affected by the regulatory regime for cryptoassets.The FCA is seeking feedback on its interpretation of the following regulated cryptoasset activities:issuing qualifying stablecoinoperating trading platformsdealing and arranging deals in qualifying cryptoassetssafeguarding cryptoassetsstakingThe proposed guidance supports the FCA’s aim for an open, sustainable and competitive crypto market people can trust.Crypto firms will be able to start applying for authorisation from September 2026. Ahead of this, the FCA is providing crypto firms with support on how to apply and to understand how the future regime could work.Until the new regime comes into force, crypto is largely...Investment15 April 2026
News & SpeechesFCA bans CMC's misleading advertsAdverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the FCA logo without permission, have been banned by the FCA. Conclusive Financial Ltd (Conclusive), a claims management company (CMC), which also trades as PCP Refunds, was required to remove its advertising and update or take down its website until it complied with the FCA's rules. Conclusive has since removed the banned adverts.The FCA was also concerned that some of the firm’s adverts stated consumers would receive £1,846 on average for compensation for motor finance claims, with no explanation of how they reached this figure.Conclusive also promoted a 'No Win, No Fee' service on its websites, without a proper explanation of the fees, including any exit fees, people would be charged. It did not tell consumers that they could make claims for free to their lender or to the Financial...Consumer Credit14 April 2026