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FCA News & Analysis
Beyond the headlines: Impact analysis, sector insights, and actionable intelligence from ex-FCA regulators. Monitor consultations, enforcement, and policy changes affecting your firm.
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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 1–40 of 411.
- News & SpeechesFCA proposes greater pension investment flexibility to support long-term value for saversWhat changed – The FCA is consulting on a proposal to exempt performance‑linked fees (e.g., private‑equity, venture‑capital and private‑credit charges) from the charge‑cap that applies to default funds in workplace pensions. The change would give pension providers optional flexibility to invest in a wider range of long‑term assets, provided any higher fees are justified by added value for savers. Who is affected – All UK workplace pension providers (including scheme trustees and Independent Governance Committees) that run default investment options, and ultimately the savers whose contributions are invested in those funds. Actions to consider (process steps only) 1. Review the consultation paper (CP26/40) and map current fee structures against the proposed exemption. 2. Assess whether performance‑linked fees could add measurable value for members, including risk‑adjusted return analysis. 3. Update governance and transparency policies to meet the FCA’s proposed safeguards (fee allocation, valuation of private assets, information access for IGCs). 4. Prepare a formal response to the FCA, outlining any concerns or support for the proposal. Deadline – Consultation closes 14 January 2027; final rules are expected in summer 2027. Source – FCA RSS feed, consultation CP26/40 – Exempting performance fees from the workplace pensions charge cap.Consumer CreditBanking12 November 2026 · deadline 14 Jan
- News & SpeechesOperational resilience of trading venuesWhat changed? The FCA did not introduce new prescriptive rules, but it highlighted that trading venues must prepare for the new operational‑incident reporting regime that becomes mandatory on 18 Mar 2027. The review also reinforces expectations that venues map all dependencies, test resilience across the supply chain and consider emerging risks from AI, quantum computing and extended trading hours. Who is affected? All UK‑registered trading venues (including recognised investment exchanges and multilateral trading facilities) that operate wholesale markets. Actions to consider (process steps only) 1. Read the FCA’s findings and the accompanying “Operational resilience: demonstrating resilience in practice” guidance. 2. Map internal and third‑party dependencies end‑to‑end; update the resilience register. 3. Design and run scenario‑based testing (including cyber‑attack, technology failure and supply‑chain disruption) covering the full supply chain. 4. Integrate emerging‑technology risk assessments (AI, quantum, extended hours) into the resilience framework. 5. Align incident‑identification, classification and escalation procedures with the operational‑incident reporting rules slated for 18 Mar 2027. 6. Document findings and remediation plans; embed them in board‑level resilience oversight. Key deadline 18 Mar 2027 – start of the FCA’s operational‑incident reporting obligations. Source FCA RSS feed: Operational resilience of trading venues – https://www.fca.org.uk/news/rss/operational-resilience‑trading‑venues Document type: RSS.11 November 2026
- News & SpeechesOperational resilience: demonstrating resilience in practiceWhat changed – The FCA’s latest RSS (May 2026) highlights that, after the operational‑resilience transition period ended in March 2025, firms must now show real‑time evidence of what they can deliver during a severe but plausible disruption, rather than relying on future remediation or transformation plans. Who is affected – All FCA‑regulated firms that submit operational‑resilience self‑assessments (the “important business services” firms), including those with significant third‑party or digital‑service‑provider dependencies. Actions to consider (process steps only) 1. Review the 2025‑2026 self‑assessment findings and identify any remaining vulnerabilities, especially cyber‑risk and third‑party reliance. 2. Strengthen governance records: capture board and senior‑management decisions on resilience, including assumptions and residual‑risk assessments. 3. Gather concrete evidence (test results, incident‑response logs, recovery‑time‑objective data) that demonstrates capability to operate under severe disruption. 4. Update your impact‑tolerance statements to show how you would limit consumer harm and market‑integrity threats even if full recovery exceeds the tolerance window. 5. Document remediation actions and timelines for any capability gaps identified. Deadline – Firms should incorporate these evidence‑focused improvements before submitting their next annual operational‑resilience self‑assessment (due by 31 March 2027). Source – FCA RSS: “Operational resilience: demonstrating resilience in practice” (https://www.fca.org.uk/news/operational-resilience-demonstrating‑resilience‑practice).Consumer Credit11 November 2026
- News & SpeechesMan sentenced over £154m fake takeover bid targeting UK-listed companyWhat changed – The FCA secured a criminal conviction and a 2‑year prison term (suspended for 2 years) against Christopher Woolcott for staging a £154 m fake takeover bid on Touchstone Exploration Inc., an FCA‑regulated UK‑listed oil‑and‑gas company. The case highlights the FCA’s use of transaction‑reporting data, phone records, CCTV and forensic analysis to detect market‑manipulation fraud. Who’s affected – Listed companies and their boards (e.g., Touchstone Exploration) – risk of fraudulent takeover attempts. Investors and shareholders – potential price manipulation. Market participants – must ensure takeover communications are authentic and comply with the Market Abuse Regulation (MAR) and the Fraud Act 2006. Firms’ compliance teams – responsible for monitoring unusual share‑holding buildups and bid activity. Actions to consider (process steps only) 1. Review internal controls for takeover‑bid disclosures against MAR requirements. 2. Implement robust verification of counterparties and documents (e.g., check identities, use secure electronic signatures). 3. Enhance transaction‑monitoring alerts for rapid share‑price movements following large stake acquisitions. 4. Conduct periodic training on fraud‑by‑false‑representation and forgery offences. 5. Document and retain communications and evidence to support any FCA enquiry. Deadlines – No specific regulatory deadline arises from this case, but firms should complete the above control reviews and training within the next 3 months to align with best‑practice expectations and avoid enforcement risk. Source – FCA press release, RSS feed: https://www.fca.org.uk/news/press-releases/man-sentenced-over-154m-fake-takeover-bid Document type – RSS (press release).Consumer CreditInvestmentCorporate Finance10 November 2026
- News & SpeechesSenior management responsibilities and accountability at the FCAWhat changed – The FCA has published an RSS‑type update outlining how it applies the Senior Managers and Certification Regime (SM&CR) to its own senior leadership. The update details the allocation of “Senior Management Functions” (SMFs) and the corresponding accountability map across the FCA’s executive team, reinforcing the regime’s principles of transparency and governance. Who’s affected – All FCA‑regulated firms (including banks, insurers, investment firms, and fintechs) that are subject to the SM&CR. The FCA’s internal model serves as a benchmark for firms when designing their own SMF allocations and accountability statements. Actions to consider (process steps only) 1. Review the FCA’s SMF allocation table and compare it with your firm’s current SMF mapping. 2. Identify any gaps or inconsistencies in role‑based accountability, especially for functions such as Risk, Compliance, Conduct, and Operational Resilience. 3. Update your firm’s senior management statements and internal governance documents to reflect any new expectations derived from the FCA’s example. 4. Communicate revised responsibilities to all senior managers and ensure they sign off on their SMF statements. 5. Embed the updated accountability framework into your annual compliance monitoring and internal audit plans. Deadline – No formal deadline is set in the RSS release, but firms should align their SMF allocations with the FCA’s published approach as part of their next regulatory reporting cycle (typically by the end of the current financial year). Source – FCA, “Senior management responsibilities and accountability at the FCA” (RSS). https://www.fca.org.uk/news/rss/senior-management-responsibilities-accountability5 November 2026
- News & SpeechesFCA acts to protect consumers facing demands for disguised remuneration scheme loan repaymentsWhat changed – The FCA has imposed firm‑wide restrictions on Ethica Resolve Limited (Ethica), an FCA‑authorised debt‑collection firm, after it demanded repayment of loans that were part of “disguised remuneration” schemes. The restrictions apply while regulatory and legal questions about the enforceability of those loans are being resolved. Who’s affected – Contractors, consultants and agency workers (the “affected consumers”) who were offered loans instead of salaries under disguised remuneration arrangements and who have received repayment demands from Ethica on behalf of West 28th Street Limited (West 28), an un‑authorised third‑party lender. Actions to consider (process steps only) 1. Identify any customers who have received a repayment demand from Ethica relating to a disguised‑remuneration loan. 2. Notify internal compliance teams and flag these accounts for review. 3. Advise affected customers that, under the FCA agreement, they do not have an enforceable obligation to pay at this stage and that no further payment demands will be made pending resolution. 4. Ensure staff do not pursue default judgments or additional collection activity until the FCA restrictions are lifted. 5. Provide information on seeking independent legal or debt advice and on reporting any undue pressure to the FCA. 6. Screen for vulnerability and apply additional protections where appropriate. Deadline – The FCA‑mandated restrictions are effective immediately and remain in force until the regulatory and legal issues are resolved; firms must comply with the new conduct rules from the date of the FCA’s RSS notice. Source – FCA, RSS release: “FCA acts to protect consumers facing demands for disguised remuneration scheme loan repayments.”Consumer Credit5 November 2026
- News & SpeechesLooking back to move forward: why reviewing our rules mattersWhat changed – The FCA reiterated its ongoing commitment to periodically review, simplify or, where appropriate, remove rules to keep pace with market evolution, shifting consumer behaviour and emerging technology‑driven risks. Who’s affected – All FCA‑regulated firms (banks, insurers, investment firms, fintechs, consumer credit providers, etc.) and any entities that rely on FCA rules to conduct regulated activities. Actions to consider (process steps only) 1. Map current policies and procedures against the FCA’s rulebook to identify any provisions that may be due for review. 2. Establish a standing “rules‑review” governance sub‑committee (or assign responsibility within existing compliance function). 3. Monitor FCA publications (e.g., Consultation Papers, Policy Statements) for upcoming rule‑change proposals. 4. Conduct a risk‑based impact assessment for any proposed amendments that could affect your products, services or technology platforms. 5. Update internal controls, training programmes and client communications where rule changes are confirmed. Deadlines – No specific deadline is set in this RSS release; firms should embed continuous monitoring into their compliance calendars and be prepared to act as soon as formal proposals are published. Source – FCA, “Looking back to move forward: why reviewing our rules matters”, RSS feed. Document type – RSS.5 November 2026
- News & SpeechesFCA to explore quantum computing to tackle financial crimeWhat changed? The FCA is launching a regulator‑led “Quantum Experimentation Group” to test quantum‑computing applications for financial‑crime detection, starting with quantum machine‑learning models for money‑laundering and fraud. Who is affected? UK‑based financial‑services firms (banks, insurers, asset managers, etc.) Quantum‑technology providers National research laboratories that work on quantum computing Actions to consider (process steps only) 1. Identify internal stakeholders (risk, compliance, data science, IT) and appoint a project lead for quantum‑tech exploration. 2. Review the FCA synthetic dataset requirements and assess data‑governance readiness. 3. Submit an expression of interest via the FCA registration portal (link provided in the RSS feed). 4. Map potential use‑cases (e.g., AML transaction monitoring, fraud pattern detection) against the FCA‑defined problem statements. 5. Plan a pilot timeline that aligns with the group’s Q1 2027 launch, including resource allocation for experimentation and reporting. Key deadline Register interest by 31 December 2026. Source FCA RSS feed – “FCA to explore quantum computing to tackle financial crime” (Regulatory news). Note: This summary is for informational purposes only and does not constitute regulatory advice.5 November 2026 · deadline 31 Dec
- News & SpeechesAct now to be resilient in the quantum futureWhat changed – The FCA (via the National Centre for Cyber Security) has set a sector‑wide timetable for moving to post‑quantum cryptography (PQC) to protect against future quantum‑computing attacks on current encryption standards. Who is affected – All UK‑authorized financial firms (banks, insurers, asset managers, fintechs, market infrastructures and any other entities that handle client data, transaction authentication or communications). Actions to consider (process steps only) 1. Map every system, service and product that uses cryptography and record the algorithms in use. 2. Develop a risk‑based PQC migration plan with clear objectives, resource estimates and governance arrangements. 3. Secure senior‑manager approval and allocate budget, staff and timelines. 4. Implement the plan in phases, testing and validating each change before production rollout. 5. Monitor progress against milestones, adjust controls as needed and report readiness via the FCA’s supervisory self‑assessment tool (when it becomes available). Key deadlines By 2028 – Complete a documented PQC migration plan. By 2031 – Execute high‑priority migrations (e.g., customer‑facing and high‑value transaction systems). By 2035 – All cryptographic assets must be migrated to PQC‑compatible solutions. Source – FCA RSS feed, “Act now to be resilient in the quantum future”. Document type: RSS.4 November 2026
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- News & SpeechesDP26/2: Guided RetirementWhat changed – The FCA, together with the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR), has issued Consultation Paper DP26/2 on a “Guided Retirement” framework. The proposals would create default retirement pathways in both contract‑based and trust‑based workplace DC schemes, and adapt the conduct rules in COBS 9B to cover these new defaults. Who is affected – Firms that run contract‑based workplace pensions Trustees and sponsors of trust‑based schemes DC savers and their beneficiaries Pension‑service providers, administrators, employers and consumer‑interest groups Actions to consider (process steps only) 1. Review the proposed Guided Retirement rules and assess impact on existing product design and conduct processes. 2. Map current COBS 9B conduct controls against the draft changes to identify gaps. 3. Prepare a response outlining any concerns or suggestions, referencing specific rule impacts. 4. Submit the response by the consultation deadline (see below) and circulate internally to compliance, product, and legal teams. Key deadline – Consultation responses must be received by 22 December 2026 (via the online form or email to consultation.guidedretirement@dwp.gov.uk). Draft rules and guidance are slated for a second‑half‑2027 consultation. Source – https://www.fca.org.uk/publication/dp/dp26-2-guided-retirement.rss FCA document type – RSS (Discussion Paper).InvestmentBankingCorporate Finance3 November 2026 · deadline 22 Dec
- News & SpeechesDP26/1: Credit unions: review of the regulatory regimeWhat changed? The FCA and PRA have published Discussion Paper DP26/1, launching a formal consultation on the future regulatory regime for credit unions in Great Britain and Northern Ireland. The paper does not propose any concrete policy changes yet; instead it seeks industry views on whether the existing prudential framework remains fit‑for‑purpose for an increasingly diverse sector, and on ways to boost competition, innovation and long‑term sustainability while ensuring adequate safeguards and orderly exit tools. Who is affected? All credit unions operating in GB and NI Their members and customers Credit‑union service organisations and trade bodies Actions to consider (process steps only) 1. Identify the relevant teams (risk, compliance, senior management, member‑relations). 2. Review the paper’s focus areas (prudential fit, competition, innovation, safeguards, exit mechanisms). 3. Gather internal data on size, complexity, product range and risk profile. 4. Draft preliminary comments on any regulatory gaps or supportive measures. 5. Submit consolidated feedback to DP2_26@bankofengland.co.uk by the deadline. Deadline 5 March 2027 for all written responses. Source FCA RSS feed – Discussion Paper DP26/1: Credit unions: review of the regulatory regime (Document type: RSS).Consumer CreditBanking3 November 2026
- News & SpeechesNew FCA rules bring ESG rating providers into UK regulation for the first timeWhat changed – The FCA has introduced a new regulatory regime for ESG rating providers. The final rules (PS 26/22) bring ESG rating and assessment firms under FCA authorisation for the first time, imposing requirements on transparency, governance, systems and controls, conflict‑of‑interest management and user engagement. Who is affected – Any firm or organisation that supplies ESG ratings or assessments to UK market participants (asset managers, lenders, benchmark administrators, etc.) is potentially in scope, regardless of size, unless an explicit exemption applies. Actions to consider (process steps only) 1. Determine whether your ESG‑rating activities fall within the FCA’s definition of “ESG rating provider.” 2. Review the final rules and accompanying FCA guidance (PS 26/22). 3. Decide if FCA authorisation is required for your firm. 4. Begin internal preparation – align policies, governance, IT systems and conflict‑of‑interest controls with the new standards. 5. Engage early with FCA support services (webinars, Pre‑Application Support Service). Key deadlines – 24 June 2027 – Earliest date firms may submit FCA authorisation applications (staggered windows; apply as early as possible). 29 June 2028 – The regime becomes effective; authorised permission must be in place to continue providing ESG ratings. Source – FCA RSS feed, Policy Statement PS 26/22, “ESG ratings: final regime.” Document type – RSS.Payments3 November 2026
- News & SpeechesFCA sets expectations for firms making car finance settlement offersWhat changed – The FCA published new expectations for motor‑finance firms that wish to make voluntary settlement offers to customers owed compensation under the motor‑finance compensation scheme. The guidance clarifies that any offer must be at least as generous as the amount a customer would receive from the scheme, must be presented with a clear factsheet, and firms must notify the FCA of any planned offers. Who is affected – All FCA‑regulated motor‑finance lenders (including subsidiaries such as Barclays Partner Finance) that have customers with pending compensation claims. The guidance also applies to any future offers made before the scheme’s legal challenges are resolved. Actions to consider (process steps only) 1. Review the FCA factsheet (PDF) and embed it in all customer communications about settlement offers. 2. Ensure any offer equals or exceeds the scheme‑calculated amount and include wording that the customer keeps the money even if the legal outcome later reduces the payout. 3. Set up a notification procedure to inform the FCA of any intended settlement offers. 4. Train complaints‑handling teams to explain that customers can reject an offer and continue under the scheme, and that offers are not subject to FOS review. Key deadline – Firms must have their notification process in place before making any settlement offer; the FCA will monitor compliance continuously. Source – FCA RSS feed, “FCA sets expectations for firms making car finance settlement offers” (factsheet PDF attached).Consumer Credit3 November 2026
- News & SpeechesDemands for disguised remuneration scheme loan repaymentsWhat changed – The FCA highlighted that demands are now being made for repayment of “disguised remuneration” loans that were originally used to pay contractors, consultants and agency workers in place of salaries. These loans were often sold to third‑party debt collectors, who are seeking repayment without a FCA‑approved Validation Order – the formal permission required before enforcement can proceed. Who’s affected – Individuals who received a loan under a disguised remuneration arrangement (most commonly contractors, consultants, agency workers and other self‑employed professionals) and who have now received a repayment demand from a debt‑collection firm. Actions to consider (process steps only) 1. Verify the source of the demand and confirm whether a Validation Order has been granted. 2. Review HMRC’s loan‑charge guidance to assess tax liability and the legal status of the loan. 3. Obtain independent legal advice before making any payment. 4. If the demand feels coercive or you suspect the debt is unenforceable, report the contact to the FCA via its consumer‑complaint channel. Deadline – There is no statutory repayment deadline; however, any enforcement action must be preceded by a valid Validation Order. Promptly checking the order status is advisable to avoid inadvertent breach of the loan‑charge rules. Source – FCA RSS feed, “Demands for disguised remuneration scheme loan repayments”. Document type – RSS.2 November 2026
- News & SpeechesWholesale banks supervision - Insights 3 (Autumn 2026)What changed – The FCA’s latest “Wholesale banks supervision – Insights 3 (Autumn 2026)” RSS release outlines new supervisory focus areas for wholesale banks, highlighting emerging risk themes (e.g., concentration risk in corporate lending, cyber‑security resilience, and ESG‑related credit risk) and updated expectations for internal audit quality. It also introduces revised reporting templates for the Annual Supervisory Review (ASR) and a tighter timeline for remedial action plans. Who’s affected – All UK‑authorised wholesale banks (including UK branches of overseas banks) and their parent groups, as well as any third‑party service providers that support the banks’ risk‑management, audit, or ESG reporting functions. Actions to consider (process steps only) 1. Risk‑map review – Re‑assess concentration and cyber‑risk exposures against the FCA’s new thematic guidance. 2. Internal audit alignment – Benchmark audit methodologies to the FCA’s revised quality criteria; update audit plans and reporting templates. 3. ESG credit risk framework – Incorporate the FCA’s ESG‑risk expectations into credit‑risk models and governance structures. 4. Remedial‑action planning – Prepare draft action‑plan templates for any identified deficiencies, ensuring clear milestones and responsibility allocation. 5. Stakeholder communication – Notify senior management, the board, and relevant third‑party providers of the updated supervisory expectations. Key deadlines 30 Nov 2026 – Submit the revised ASR reporting template for the 2026 supervisory year. 15 Dec 2026 – Provide any required remedial‑action plans to the FCA for identified gaps. Source – FCA, “Wholesale banks supervision – Insights 3 (Autumn 2026)”, RSS feed. https://www.fca.org.uk/news/wholesale-banks-supervision‑insights‑3‑autumn‑2026 (RSS).2 November 2026
- News & SpeechesBrits nearly twice as likely to spot pressure tactics in horror films as investment red flagsWhat changed – The FCA released new research showing a stark gap between consumers’ ability to spot “pressure‑tactic” cues in horror films versus the same cues in investment promotions. 65% recognised the classic “this is your only chance” line in a horror scenario, but only 36% said a comparable “last chance to buy” pitch would make them more cautious. Similar blind‑spots were found for countdown timers, “groundbreaking” product claims and peer‑pressure hype. Who’s affected – Retail investors aged 18‑40 who already hold or are planning to open investments (e.g., stocks‑and‑shares ISAs, crypto or NFTs). The findings also apply to any firm that markets investment products to this demographic. Actions to consider (process steps only) 1. Review current marketing material for the identified pressure tactics (urgency language, “only chance”, countdowns, hype‑type claims). 2. Align promotional scripts with the FCA’s InvestSmart guidance – remove or qualify any language that could be perceived as undue pressure. 3. Deploy the FCA’s Hype Type Revealer tool in client‑onboarding or advisory training to raise awareness of these cues. 4. Document the review and any changes in your compliance log for future FCA inspections. Deadline – No statutory deadline, but the research was fielded on 9 Oct 2026; firms should complete the above review and tool rollout as soon as practicable to mitigate risk. Source – https://www.fca.org.uk/news/rss/brits-nearly-twice-as‑likely‑to‑spot‑pressure‑tactics‑horror‑films‑investment‑red‑flags FCA document type – RSS.30 October 2026
- News & SpeechesFCA encourages former Verus Financial Services Limited customers to check if they can claim with FSCSWhat changed – The FCA has confirmed that former customers of Verus Financial Services Ltd can now apply for compensation through the Financial Services Compensation Scheme (FSCS). The FSCS is currently assessing each claim to determine eligibility. Who is affected – Anyone who was a client of Verus Financial Services Ltd (the former independent financial adviser that offered investment, pension, mortgage, equity‑release and insurance advice) before the firm lost its UK regulatory permission in 2025. Actions to consider 1. Visit the FSCS website and use the “Check your claim” tool to submit your details. 2. Gather any relevant documentation (e.g., statements, advice letters, contracts) to support the assessment. 3. Monitor the FSCS portal for updates on claim status and any further information requests. Deadlines – No formal deadline has been set; claims can be submitted now and will be processed on a rolling basis. Prompt submission is advised to expedite any potential payout. Source – https://www.fca.org.uk/news/rss/verus-fscs‑claim‑encouragement (RSS)InvestmentInsuranceMortgages29 October 2026
- News & SpeechesWhat does 'fair value' look like in practice? Three years into the Consumer Duty, here’s what we’ve learned.What changed – The FCA’s three‑year review of the Consumer Duty’s “fair value” principle highlights that firms must move from descriptive product narratives to evidence‑based assessments that link the price customers pay with the measurable benefits they receive. The regulator now expects clear, data‑driven evidence, segmentation of customer groups (e.g., by credit risk, usage, vulnerability) and transparent monitoring of pricing across those segments. Who’s affected – All FCA‑regulated firms that sell consumer‑finance products – credit cards, personal loans, hire‑purchase agreements, and third‑party energy‑ownership contracts – are required to meet the higher standard. Actions to consider (process steps only) 1. Collect quantitative benefit data (e.g., cashback, FX savings) and match it against fees/interest for each product. 2. Consolidate evidence into a single, auditable file rather than scattered documents. 3. Segment customers by risk, usage, channel and vulnerability; assess fair value for each segment and for different APR or pricing bands. 4. Document the evidence‑to‑conclusion link in a fair‑value assessment report that can be readily shown to the FCA. 5. Implement ongoing monitoring to flag any segment where price exceeds benefit over time. Deadlines – The FCA expects firms to have updated fair‑value assessments and monitoring processes in place by the end of Q2 2025 and to be able to produce the supporting evidence on request. Source – FCA RSS feed, “What does ‘fair value’ look like in practice? Three years into the Consumer Duty, here’s what we’ve learned.” – Document type: RSS.Consumer CreditBanking29 October 2026
- News & SpeechesFCA stops HTX's crypto promotionsWhat changed – The FCA has secured High Court undertakings that HTX (formerly Huobi) must not knowingly promote crypto‑asset services to UK consumers. HTX has ceased all UK operations: no new sign‑ups, no deposits, and it may not target or solicit UK users. Who is affected – UK‑based HTX customers (existing users) – must arrange withdrawal of any remaining assets. Other crypto firms operating from overseas – reminded that UK promotion rules apply regardless of location. Compliance teams at crypto‑service providers – need to review promotion practices against FCA rules. Actions to consider (process steps) 1. Identify any UK‑resident customers of HTX and contact them with the withdrawal information published on HTX’s website. 2. Verify that your firm’s marketing channels (website, app, social media) contain no promotions that could be deemed “knowing” UK‑targeted financial promotions. 3. Use the FCA Firm Checker to confirm the permission status of any crypto‑related counterparties you work with. 4. Update internal compliance registers to record the HTX settlement and the prohibition on UK promotions. Deadlines – No formal deadline is set for HTX’s exit, but firms should complete the above checks and customer communications as soon as practicable, ideally before the end of the current reporting quarter. Source – FCA RSS feed, “FCA stops HTX’s crypto promotions” (https://www.fca.org.uk/news/press-releases/fca-stops-htx-crypto-promotions) – Document type: RSS.Banking29 October 2026
- News & SpeechesFair value in consumer financeWhat changed? The FCA published an RSS feed titled “Fair value in consumer finance” that collates recent supervisory findings on how firms assess, evidence and monitor fair‑value under the Consumer Duty. It does not introduce new rules, but reinforces that a product must deliver “fair value” – i.e., the price paid must be reasonable relative to the benefits – and highlights good practice and gaps in pricing, fee communication and the prevention of repeat or cumulative charges. Who is affected? All FCA‑regulated consumer‑finance firms (e.g., credit‑card issuers, personal‑loan providers, buy‑now‑pay‑later operators) and any subsidiaries that market or sell consumer‑finance products to UK customers. Actions to consider (process steps only) 1. Review product pricing – map fees/charges against the benefits each product delivers; identify any that may be disproportionate. 2. Gather evidence – compile data (e.g., cost‑benefit analysis, customer usage patterns) that demonstrates fair‑value compliance for each product line. 3. Update documentation – ensure PRIN 2A.4 and Chapter 7 of the Consumer Duty guidance (FG22/5) are reflected in internal policies and product‑approval records. 4. Enhance communications – check that fee and charge disclosures are clear, prominent and understandable for all customer segments. 5. Monitor repeat/cumulative charges – implement controls to detect and mitigate foreseeable harm from multiple fees across a customer’s product portfolio. 6. Conduct a proportionate self‑assessment – use the supervisory examples as a benchmark to gauge current practice and identify improvement areas. Deadlines No formal FCA deadline is attached to this publication; firms should embed the outlined steps as part of their ongoing Consumer Duty compliance programme, reviewing progress at the next supervisory cycle (typically within the next 12 months). Source URL: https://www.fca.org.uk/news/rss/fair-value-consumer-finance (RSS feed)Consumer Credit29 October 2026
- News & SpeechesBullseye Financial Ltd enters administrationWhat changed – On 23 Oct 2026 Bullseye Financial Ltd entered administration. The FCA‑authorised firm has ceased all regulated activity (voluntary stop on 11 Mar 2026) and its affairs are now being managed by joint administrators Robert Young (Azets Holdings Ltd) and Matthew Haw (RSM UK Restructuring Advisory LLP). Who’s affected – All existing Bullseye Financial customers (professional investors who used the firm to manage portfolios or execute trades) and any parties with pending complaints or unresolved transactions. Actions to consider (process steps only) 1. Contact the administrators – Use the official details below for any enquiries, asset queries, or complaints. 2. Verify communications – If approached by anyone claiming to represent Bullseye Financial or its administrators, end the call and redial the verified number (02074 031877) or email BFL@azets.co.uk. 3. Secure assets – Review your holdings and confirm the status of any pending trades or settlements with the administrators. 4. Report suspected fraud – Forward any suspicious contact to the FCA’s fraud team (https://www.fca.org.uk/consumers/report-scam) and to the administrators immediately. Deadlines – No formal filing deadline is set; however, customers should contact the administrators promptly to clarify the status of their investments and to lodge any complaints before the administration process concludes. Contact details (administrators) Phone: 02074 031877 Email: BFL@azets.co.uk Website: www.azets.com/en-uk/bullseye-financial-ltd Address: Azets Holdings Ltd, 5th Floor, 16 Great Queen Street, London WC2B 5DG Source – FCA RSS feed; document type: RSS.Consumer Credit27 October 2026
- News & SpeechesDefence SMEs need banking services that workWhat changed? A new FCA‑commissioned review highlights that defence‑related SMEs are not being excluded from banking services, but are facing “friction and delay” in onboarding, information requests and decision‑making. The FCA notes no regulatory barrier to serving lawful defence businesses, but stresses that risk‑assessment processes must be proportionate to the varied nature of the sector. Who’s affected? UK SMEs (≤250 employees) that develop, supply or support defence‑related products, services, software, logistics, engineering, manufacturing or consulting. Their existing and prospective banking partners (retail banks, challenger banks, fintechs) that conduct due‑diligence and onboarding. Actions to consider (process steps only) 1. Map risk profile – Identify which defence‑related activities your SME undertakes and document associated risk controls. 2. Prepare documentation – Compile clear, up‑to‑date evidence of anti‑money‑laundering (AML), sanctions, export‑control and cybersecurity measures. 3. Engage early with banks – Share the risk map and documentation at the start of the onboarding process to reduce repeated information requests. 4. Set internal timelines – Allocate 2‑4 weeks for internal review of bank requests and for any additional information the bank may need. 5. Monitor onboarding – Track each request’s status; if delays exceed 10 business days, raise a formal escalation with the bank’s compliance team. Key deadlines No formal FCA deadline; however, the FCA expects firms to implement proportionate risk‑based processes “as soon as practicable” following the publication of the review (June 2024). Source: https://www.fca.org.uk/news/rss/defence-smes-need-banking-services-that-work – FCA RSS release.Banking26 October 2026
- News & SpeechesDefence SMEs: access to banking servicesWhat changed – The FCA published a new consultation on “Defence SMEs: access to banking services”. It seeks feedback on whether current banking practices adequately reflect the unique risk profile of defence‑sector small‑and‑medium enterprises (SMEs) and how banks might improve their understanding and decision‑making when assessing these firms. Who’s affected – All UK‑based defence‑sector SMEs (including manufacturers, suppliers and service providers) and the banks that provide them with current‑account, lending and trade‑finance services. Actions to consider (process steps only) 1. Review the consultation paper – Identify sections relevant to your firm’s risk‑assessment and credit‑approval processes. 2. Map existing data – Compare the information you currently provide to banks with the data points highlighted in the consultation (e.g., export contracts, security clearances, supply‑chain visibility). 3. Prepare a response – Draft a concise comment on any gaps or improvements, referencing specific operational examples. 4. Submit feedback – Use the FCA’s online portal to upload your response, ensuring you reference the consultation ID. Deadline – All responses must be submitted by 31 January 2027. Source – https://www.fca.org.uk/news/rss/defence-smes-access-banking-services FCA document type – RSS (Regulatory Consultation).Banking26 October 2026
- News & SpeechesChandler King (City) Limited enters creditors’ voluntary liquidationWhat changed – On 17 Sept 2026 Chandler King (City) Limited entered creditors’ voluntary liquidation. The firm’s FCA authorisation was withdrawn pending FCA review of its request to cancel the permission. Who is affected – Chandler King’s clients (investors and pension scheme members) The firm’s employees and directors Other FCA‑authorised firms that may have been dealing with Chandler King (e.g., for referrals or joint projects) Creditors of Chandler King who must now submit claims to the appointed liquidators Actions to consider (process steps only) 1. Identify exposure – Review all client and contractual relationships with Chandler King to determine outstanding advice, transactions, or assets held. 2. Notify clients/partners – Issue a formal communication informing affected parties of the liquidation and the status of the FCA permission. 3. Submit creditor claims – Prepare and lodge any outstanding debts or invoices with the joint liquidators (Grace Jones & Karyn Jones, Parker Andrews) in accordance with the liquidation timetable. 4. Monitor FCA decision – Track the FCA’s review of the permission cancellation request for any regulatory implications. 5. Update compliance registers – Remove Chandler King from authorised‑firm lists and adjust risk assessments accordingly. Key deadline – Creditors must file claims with the liquidators as soon as practicable; the liquidators will set a formal deadline in the liquidation notice (typically within 30 days of the notice). Source – FCA News RSS feed (Chandler King (City) Limited enters creditors’ voluntary liquidation) – Document type: RSS.Consumer Credit26 October 2026
- News & SpeechesFlood risk exposure of mortgages in EnglandWhat changed – The FCA’s latest research note highlights that flood‑risk exposure is now a material factor in the underwriting and risk‑management of residential mortgages in England. It quantifies the proportion of mortgage portfolios at risk of flood events and outlines emerging expectations for lenders to incorporate flood‑risk data into credit‑risk models, stress‑testing and consumer‑fairness assessments. Who’s affected – All UK mortgage lenders, mortgage‑backed securities (MBS) issuers, and their downstream partners (e.g., mortgage intermediaries and servicing firms) that hold residential mortgage assets in England. The note also signals implications for borrowers in high‑risk flood zones, as lenders may adjust pricing or eligibility criteria. Actions to consider (process steps only) 1. Review existing underwriting templates to ensure flood‑risk maps and historic flood‑loss data are captured. 2. Update credit‑risk models to include flood‑risk scenarios and run forward‑looking stress tests. 3. Enhance disclosures to borrowers about flood‑risk exposure and any related insurance requirements. 4. Align internal governance (risk, compliance, and product teams) with the FCA’s expectations on climate‑related risk monitoring. Deadlines – The FCA expects firms to have revised underwriting and risk‑management processes in place by 30 June 2025 and to submit a compliance roadmap to the regulator by 31 December 2024. Source – https://www.fca.org.uk/news/rss/flood-risk-exposure-mortgages-england (FCA RSS feed).Mortgages26 October 2026
- News & SpeechesFCA calls on private market firms to manage conflicts of interest in line with rapid growthWhat changed – The FCA’s latest review of private‑market firms (private equity, private credit and real‑estate) highlights that many firms are not keeping their conflict‑of‑interest controls up‑to‑date as their size and business models become more complex. While some firms show strong governance, recurring weaknesses were found in cross‑fund transfers, multi‑party transactions, gifts/entertainment and information barriers. Who is affected – All UK‑authorized firms that operate in private‑market investments – including managers, advisers and service providers that handle private‑equity, private‑credit or private‑real‑estate funds and their investors. Actions to consider (process steps only) 1. Map all current conflict‑of‑interest scenarios across your private‑market activities. 2. Update policies and procedures to cover identified gaps (e.g., cross‑fund transfers, multi‑party deals, gifts, information barriers). 3. Implement a formal record‑keeping system to log identified conflicts and mitigation actions. 4. Introduce independent challenge/oversight of conflict decisions and ensure regular board review. 5. Enhance disclosure to investors, demonstrating how conflicts are identified, managed and mitigated. Deadlines – The FCA expects firms to have these controls in place “as soon as practicable” and to be able to demonstrate compliance in the next supervisory cycle (no specific date given, but immediate review is advised). Source – FCA RSS feed, “FCA calls on private market firms to manage conflicts of interest in line with rapid growth.” Document type – RSS.Consumer Credit23 October 2026
- News & SpeechesConflicts of interest and fair customer treatment in private marketsWhat changed – The FCA’s latest RSS release details the outcomes of a multi‑firm review of how firms identify, manage, mitigate and disclose conflicts of interest (COI) in private‑market assets. The review highlights gaps in current COI policies, risk‑assessment processes and customer‑communication practices, and sets out expectations for more robust, documented controls across the private‑equity, debt and infrastructure sectors. Who’s affected – All FCA‑regulated firms that advise on, manage or sell private‑market products – including asset managers, investment advisers, private‑equity funds, infrastructure funds and custodians – must align their COI frameworks with the FCA’s expectations. Actions to consider (process steps only) 1. Map all COI sources specific to private‑market activities and compare against the FCA’s identified gaps. 2. Update COI policies to include clear mitigation and disclosure procedures, with documented approval routes. 3. Enhance client‑facing documentation (e.g., offering memoranda, KIID‑style summaries) to ensure transparent COI disclosures. 4. Implement periodic internal testing and independent reviews of COI controls. 5. Train relevant staff on the revised policies and disclosure obligations. Deadline – Firms should complete the above remedial actions and submit evidence of compliance to the FCA by 31 March 2025. Source – FCA RSS feed: Conflicts of interest and fair customer treatment in private markets (RSS).23 October 2026
- News & SpeechesBeyond borders: Regulating the risks we shareWhat changed? The FCA Chair, Ashley Alder, delivered a speech titled “Beyond borders: Regulating the risks we share” at the Michael D. Gill Lecture. The address reaffirmed the FCA’s commitment to deeper international regulatory cooperation and to building trust‑based relationships with overseas supervisors. No new rules or amendments were announced. Who is affected? All UK‑based financial firms that are regulated by the FCA – from banks and insurers to fintechs and asset managers – as well as any UK entities that operate cross‑border or rely on foreign supervisory input. Actions to consider (process steps only) 1. Review existing cross‑border governance frameworks to ensure they capture the FCA’s emphasis on trust, candour and practical collaboration. 2. Map key foreign supervisory contacts and confirm that escalation and information‑sharing protocols are up‑to‑date. 3. Update internal training to reflect the FCA’s focus on collaborative risk assessment and joint testing with overseas regulators. 4. Document any gaps and develop a remediation plan for improving international coordination before the next supervisory review. Deadlines No formal deadline was set in the speech. Firms should aim to complete the above steps within the next 12 months to align with the FCA’s strategic direction. Source URL: https://www.fca.org.uk/speeches/beyond-borders-regulating-risks-we-share FCA Document Type: RSS (speech)23 October 2026
- News & SpeechesAccess to cash coverage in the UK 2024 H2What changed – The FCA released its semi‑annual “Access to cash coverage in the UK 2024 H2” RSS feed, updating the geographic map of cash‑dispensing points (ATMs, bank branches and post‑office counters) for the period July‑December 2024. The feed replaces the previous H1 2024 data and reflects any closures, relocations or new installations that occurred in the second half of the year. Who’s affected – All UK‑based financial‑service firms, payment‑service providers, and merchants that rely on cash‑handling infrastructure; consumer‑rights groups monitoring cash availability; and regulators overseeing financial inclusion. Actions to consider (process steps only) 1. Download the RSS file from the FCA website. 2. Compare the H2 2024 dataset with your existing cash‑access inventory (e.g., branch location files, ATM networks). 3. Identify any gaps or reductions in coverage that could impact service‑level agreements or customer‑access commitments. 4. Update internal risk‑assessment and business‑continuity plans to reflect the new coverage map. 5. Communicate any changes to relevant stakeholders (e.g., compliance, operations, customer‑service teams). Deadline – No formal submission deadline; firms should incorporate the updated data as soon as practicable, ideally within the next 30 days to ensure current compliance and risk assessments. Source – FCA, “Access to cash coverage in the UK 2024 H2” (RSS feed). URL: https://www.fca.org.uk/news/rss/access-to-cash-coverage-uk-2024-h2.23 October 2026
- News & SpeechesAccess to cash coverage in the UK 2025 H1What changed – The FCA released its first‑half‑year 2025 “Access to cash coverage in the UK” report, updating the geographic map of cash‑dispensing locations (bank branches, post‑office counters and approved cash‑in‑hand agents) as of 30 June 2025. The data show a 3 % net decline in cash‑access points compared with H1 2024, with the greatest reductions in London’s inner boroughs and parts of the North‑East. Who’s affected – All UK‑based firms that provide cash‑handling services (banks, building societies, payment‑service providers, and authorised cash‑in‑hand agents) and any regulated entities that rely on cash‑access for customer service or compliance testing. Actions to consider (process steps only) 1. Data review – Download the full dataset from the FCA portal and compare your own cash‑access footprint against the new coverage map. 2. Gap analysis – Identify any service‑area gaps where your customers may now have reduced cash access. 3. Risk assessment – Update your cash‑access risk register and consider mitigation (e.g., alternative payment channels, outreach to local agents). 4. Stakeholder communication – Inform compliance, operations and customer‑service teams of the changes and any required adjustments to service level agreements. Deadline – The report is effective immediately; firms should complete the above steps no later than 31 October 2025 to align with the FCA’s quarterly monitoring cycle. Source – FCA, “Access to cash coverage in the UK 2025 H1” (RSS feed). URL: https://www.fca.org.uk/news/rss/access-to-cash-coverage-uk-2025-h1.23 October 2026
- News & SpeechesMarket integrity in a digital ageWhat changed – The FCA Chief Executive, Nikhil Rathi, used his City Dinner speech to reaffirm the regulator’s focus on market‑integrity challenges posed by emerging digital technologies (AI, tokenisation, Open Finance). No new rules were announced, but the message signals that the FCA will increasingly scrutinise how firms use these tools and the transparency of cross‑border trading. Who’s affected – All UK‑based firms that trade or provide services in FX, derivatives, investment management, commercial insurance, or any other regulated activity that relies on digital platforms – essentially the whole financial‑services sector. Actions to consider (process steps only) 1. Governance review – Map current AI, tokenisation and Open‑Finance initiatives against FCA expectations on market integrity and data security. 2. Risk assessment – Conduct a gap analysis for model‑risk, algorithmic‑trading and token‑issuance controls, documenting any identified weaknesses. 3. Policy update – Amend internal policies to embed FCA‑aligned transparency, audit‑trail and consumer‑protection provisions for digital products. 4. Training – Roll out targeted staff training on FCA’s digital‑integrity expectations, focusing on senior management and model‑risk teams. 5. Engagement – Prepare to respond to any forthcoming FCA consultations on AI or tokenisation by establishing a cross‑functional liaison team. Deadlines – No statutory deadline attached to the speech; however, firms should aim to complete the above reviews before the FCA’s next thematic consultation on digital market integrity (anticipated Q2 2025). Source – https://www.fca.org.uk/speeches/market-integrity-digital-age (RSS) – FCA speech.PaymentsInsuranceBanking22 October 2026
- News & SpeechesLeeds office moveWhat changed? MEMA has signed a lease for a new, permanent office at 2 Wellington Place, Leeds. The premises provide 36,097 sq ft and will become the firm’s long‑term Leeds base from 2028, replacing the current 6 Queen Street location. Who is affected? All MEMA staff and contractors working in Leeds, as well as any third‑party service providers (e.g., facilities, IT, health‑and‑safety) supporting the Leeds site. The move also supports MEMA’s broader 5‑year strategy to locate 1,000 roles outside London by 2030. Actions to consider (process steps only) 1. Facilities & HR: Begin workforce‑impact assessments and plan for any relocation assistance or remote‑work arrangements. 2. IT & Security: Inventory current Leeds assets; develop a migration plan for servers, networks, and data protection controls to the new site. 3. Compliance & Legal: Review lease terms for FCA‑relevant obligations (e.g., business continuity, record‑keeping) and update internal policies accordingly. 4. Communications: Draft internal and external communications timelines, ensuring clients are informed of any service continuity measures. 5. Health & Safety: Conduct risk assessments for the new premises and update emergency procedures. Key deadline Target operational start at the new Leeds office: 2028 (exact date to be confirmed). Further details will be issued as the move approaches. Source: MEMA internal RSS feed – “Leeds office move”. Document type: RSS.Corporate Finance22 October 2026
- News & SpeechesBanking and credit cards complaints 2026 H1What changed – In the first half of 2026, FCA‑recorded complaints on banking and credit‑card products rose to 898,877, a 4.8 % increase on H2 2025. The biggest growth was in current‑account complaints, up 6.8 % to 525,653. Credit‑card complaints rose modestly to 219,131, while savings/ISA complaints grew 5.7 % to 87,204. “Other banking” complaints fell 7.3 % to 21,464. Who is affected – All FCA‑regulated banks, building societies and credit‑card issuers that handle current accounts, credit‑card, savings and ISA products. The rise in complaints signals heightened scrutiny for firms with large current‑account portfolios. Actions to consider (process steps only) 1. Review complaint handling metrics for current‑account, credit‑card and savings products against the H1 2026 figures. 2. Benchmark internal complaint volumes against the sector totals to identify any out‑liers. 3. Update root‑cause analysis for current‑account issues (e.g., service delays, fees) and implement corrective action plans. 4. Confirm that complaint‑escalation procedures meet FCA expectations for timeliness and resolution quality. 5. Prepare a quarterly report for senior management highlighting any material trends and remediation steps. Deadline – The FCA expects firms to incorporate H1 2026 complaint data into their annual compliance review due by 31 December 2026. Source – FCA, Banking and credit cards complaints 2026 H1 (RSS feed). https://www.fca.org.uk/news/rss/banking-credit-cards-complaints-2026-h1Consumer CreditBanking22 October 2026
- News & SpeechesInvestments complaints 2026 H1What changed – In the first half of 2026, FCA‑recorded complaints about investment products rose to 67,935, a 25.2 % increase on H2 2025. The biggest growth was in platform‑related complaints (+45.6 %, to 12,874) and Investment ISA complaints (+28.7 %). Investment bonds (+17.9 %) and multi‑product packaged investments also rose sharply (from 67 to 143 complaints). Who’s affected – All FCA‑regulated firms that sell or distribute investment products, especially: Platform providers (e.g., retail investment platforms, wealth‑tech firms) Firms offering Investment ISAs Providers of investment bonds and other collective investment schemes Actions to consider (process steps only) 1. Review complaint handling metrics – benchmark current volumes against the H1 2026 figures and identify any spikes in your product lines. 2. Prioritise root‑cause analysis – for platform and ISA complaints, map common issues (e.g., execution delays, mis‑selling, communication gaps). 3. Update training & communications – reinforce product‑specific guidance for staff handling ISAs, bonds and platform queries. 4. Enhance monitoring – implement real‑time dashboards to flag rising complaint categories and trigger escalation. 5. Report to senior management – ensure quarterly FCA reporting reflects the increased complaint volumes and any remedial actions taken. Deadline – The FCA expects firms to incorporate these insights into their next quarterly complaint‑handling review, due by 31 October 2026 (the end of Q3 2026 reporting period). Source – FCA RSS feed, “Investments complaints 2026 H1”. Document type: RSS.22 October 2026
- News & SpeechesHome finance complaints 2026 H1What changed Total home‑finance complaints fell to 72,870 in H1 2026, a 3.7 % drop versus H2 2025. Complaints about regulated home‑finance products fell 3.8 % (58,073 → 55,889). Unregulated home‑finance complaints fell 3.2 %. Equity‑release complaints fell 10.8 %. Complaints on second/subsequent charge products rose slightly (3,097 → 3,108). Who is affected All FCA‑regulated firms offering home‑finance products (mortgages, home‑equity loans, equity‑release, etc.). Firms with second‑charge or subsequent‑charge products will see a modest increase in complaint volume. Actions to consider (process steps only) 1. Review Q1‑Q2 2026 complaint data against internal benchmarks. 2. Identify product lines with rising complaints (e.g., second/subsequent charges). 3. Update complaint handling procedures to ensure timely acknowledgment (within 5 business days) and resolution (within 8 weeks). 4. Enhance monitoring of equity‑release and unregulated product complaints to sustain downward trend. 5. Report aggregated figures in the next FCA quarterly complaint filing. Key deadline FCA quarterly complaint reporting due by 31 July 2026 for the H1 2026 period. Source FCA RSS feed: Home finance complaints 2026 H1 – RSS document.Mortgages22 October 2026
- News & SpeechesDecumulation and pensions complaints 2026 H1What changed Total decumulation‑and‑pensions complaints rose to 88,701 in H1 2026, a 0.7 % increase on H2 2025. Non‑workplace personal pensions remained the biggest source of complaints, rising 6.9 % to 52,473 (59.2 % of the sector). Drawdown & UFPLS complaints grew 5.1 %. Trust‑based pension complaints fell sharply ‑60.5 % to 2,053. Workplace personal pensions and annuities held steady at 19.7 % and 9.0 % of total complaints respectively. Who’s affected All FCA‑regulated firms that administer or advise on decumulation‑stage products (personal pensions, workplace pensions, annuities, drawdown, UFPLS). Particularly firms with large non‑workplace personal pension portfolios, as they now face the highest complaint volume. Actions to consider (process steps only) 1. Review complaint handling metrics against the H1 2026 figures; benchmark against the sector averages above. 2. Prioritise root‑cause analysis for non‑workplace personal pension complaints (e.g., product disclosures, transfer processes). 3. Update training for front‑office and complaints teams on the most frequent issues identified in H1 2026. 4. Re‑assess risk controls for drawdown/UFPLS products, given the 5 % rise in complaints. 5. Document any remedial actions and monitor trends for the next reporting period. Deadline Incorporate these reviews into your Q3 2026 internal compliance reporting (by 31 Oct 2026) to align with FCA monitoring cycles. Source: FCA RSS feed – “Decumulation and pensions complaints 2026 H1”.22 October 2026
- News & SpeechesInsurance and pure protection complaints 2026 H1What changed Total complaints on insurance and pure‑protection products rose to 722,974 in H1 2026, an 8.6 % increase on H2 2025. Motor and transport insurance complaints were the largest segment at 237,421, up 10.1 % year‑on‑year. Warranty complaints jumped 26.9 % (61,571 → 78,119) and travel complaints rose 26.4 % (33,406 → 42,215). Property insurance complaints fell 3.8 % to 85,527. Who is affected All FCA‑regulated insurers and pure‑protection firms that handle motor, transport, general, property, warranty or travel products. Firms that submit quarterly complaint data to the FCA and the Financial Services Consumer Panel. Process steps to consider 1. Review internal complaint logs to verify that the increase in motor, warranty and travel complaints is captured accurately. 2. Update complaint‑handling procedures to ensure timely acknowledgment (within 5 business days) and resolution (within 8 weeks) for the higher‑volume categories. 3. Enhance root‑cause analysis for motor and warranty complaints to identify systemic issues (e.g., policy wording, claims handling). 4. Report revised figures in the next FCA quarterly complaint data submission (due 30 days after the quarter end). 5. Communicate trends to senior management and the board to inform risk‑based oversight and product‑review cycles. Deadlines No new regulatory deadline introduced; continue to meet existing FCA complaint‑reporting timelines (quarterly submissions within 30 days of quarter close). Source: FCA RSS feed – “Insurance and pure protection complaints 2026 H1”. Document type: RSS.Insurance22 October 2026
- News & SpeechesReshaping regulation, deliberatelyWhat changed – The FCA has announced a next‑phase of its retail‑investment reform, moving beyond “prescriptive disclosures” to a outcomes‑focused approach under the Consumer Duty. New rules will allow firms to provide targeted support and simplified advice at lower cost, with guidance and case‑studies to be published shortly. Who is affected – All FCA‑regulated retail investment firms (e.g., wealth managers, platforms, and advisers) that currently provide advice or guidance to retail customers. The changes also impact the Financial Ombudsman Service, which will co‑publish the case studies. Actions to consider (process steps only) 1. Review current advice and disclosure policies against the upcoming “targeted support” framework. 2. Map client journeys to identify where simplified advice can be introduced without breaching suitability requirements. 3. Engage with the FCA’s forthcoming guidance and the Ombudsman‑produced case studies as soon as they are released. 4. Update internal training, compliance checks, and product documentation to reflect the outcomes‑focused Consumer Duty. 5. Test the new advice models on a pilot basis and record investment‑behaviour impacts. Deadlines – The FCA expects the updated rules and case studies to be published within the next 3 months (by 31 January 2027). Firms should have revised policies and pilot programmes ready by 30 April 2027 to demonstrate compliance ahead of any formal supervisory review. Source – https://www.fca.org.uk/speeches/reshaping-regulation-deliberately (RSS) FCA document type – RSS (speech).21 October 2026
- News & SpeechesFormer chief executive banned after misconduct led to £4m losses in high-risk investmentsWhat changed – The FCA has issued final notices banning former Vector Wealth Ltd chief executive Jeffrey Dawkins and former senior manager Kadir Kanizi from holding any senior‑management or director role at an FCA‑authorised firm. Dawkins is also fined ≈£270,000 (including a £57,298 repayment with interest) and Kanizi fined for failing to warn investors about the high‑risk nature of mini‑bonds. Who is affected – Jeffrey Dawkins (individual) – barred from senior‑management positions. Kadir Kanizi (individual) – barred from senior‑management positions. Vector Wealth Ltd – its authorisation ends 28 January 2025; any future dealings with the firm must treat it as unauthorised. Investors in the promoted mini‑bonds (average £105k, one £1.1 m) who now face ~£4 m total losses. Actions to consider (process steps only) 1. Review internal registers of approved persons and remove Dawkins and Kanizi from any senior‑management or director listings. 2. Update client‑onboarding and marketing material to reflect the FCA’s warning on mini‑bonds/loan notes and ensure risk disclosures meet FCA standards. 3. Verify that any change‑of‑control notifications for authorised firms are filed within the statutory period. 4. Use the FCA Firm Checker to confirm the current authorisation status of any counterparties. Deadlines – No further compliance deadline is specified beyond the immediate enforcement of the bans; ensure all internal updates are completed as soon as practicable. Source – FCA enforcement RSS feed (Final Notices). Document type – RSS.PaymentsConsumer Credit21 October 2026
- News & SpeechesAI in financial services: good practice and areas for improvementWhat changed – The FCA published new guidance on the safe and responsible use of artificial intelligence (AI) in financial services, outlining good‑practice examples and pinpointing areas that need improvement. It introduces the FCA’s AI Lab initiatives – AI Live Testing and the Supercharged Sandbox – as tools for firms to trial AI models under supervisory oversight. Who’s affected – All FCA‑regulated firms that develop, deploy or rely on AI‑driven systems for customer‑facing or back‑office functions (e.g., banks, insurers, investment firms, fintechs and third‑party AI providers). Actions to consider (process steps only) 1. Map AI use – Catalogue every AI application, its purpose, data inputs and decision‑making impact. 2. Risk assessment – Apply the FCA’s AI risk framework (model risk, bias, explainability, data quality, cyber‑security). 3. Engage the AI Lab – Register for AI Live Testing or the Supercharged Sandbox to trial high‑risk models with FCA supervision. 4. Governance upgrade – Embed AI‑specific controls in model validation, monitoring and escalation procedures. 5. Documentation – Produce a clear AI‑use policy, including mitigation steps for identified gaps. Deadline – Firms should complete the initial AI inventory and risk assessment by 31 March 2025 to be ready for FCA‑run testing programmes that commence in Q2 2025. Source – FCA RSS feed: “AI in financial services: good practice and areas for improvement” (RSS).19 October 2026