The FCA has written to the Prime Minister setting out its growth measures planned for 2026. The ambitious package highlights that the FCA has met nearly all of the 50 commitments it promised to do this year, and that next year it will prioritise a new set of initiatives around:
- more efficient supervision;
- digitalisation of financial services;
- increasing SME lending; and
- boosting trade and international competitiveness.
Before the end of the year, it still has a few things to do, including proceeding with its plan to abolish the £100 contactless limit.
In 2026 it will progress:
- the reform of rules for venture capital and alternative investment fund managers;
- review of the pension charge cap;
- the launch of variable recurring payments;
- finalising digital assets rules and progressing UK-issued stablecoins;
- setting the delivery plan for open finance, which will prioritise SME lending;
- further work on the mortgage rules;
- the reform of the redress system;
- a proposal to remove the 7 day research waiting period for IPO applications;
- the provisional licence regime; and
- its Singapore presence and integration with the US, which plans regulatory modernisation at G20 level.
The PRA’s letter reviews 2025, specifically calling out its work on:
- the “strong and simple” framework;
- the insurance Matching Adjustment Investment Accelerator”;
- improving the UK ISPV framework;
- remuneration reform; and
- simplified regulatory reporting.
It also mentions the ongoing work on delivering the Leeds reforms, Basel 3.1 and the SMCR review