The FCA has updated its website with previous general insurance value measures data. The new page contains relevant data from 2016 to 2024.
Author - Emma Radmore
Emma Radmore
FCA continues to tackle misleading car finance ads
The joint taskforce comprising the FCA, ASA, SRA and ICO continues to crack down on poor handling of motor finance claims and ads for services. The FCA had 170 misleading ads removed or amended by CMCs during June alone...
BoE speaks on growth and inclusion
Andrew Bailey has spoken on why the UK needs stronger long-term growth, and how bank capital supports a resilient banking system. He looked at the potential that tokenisation and modernisation of payments laws present...
Committee reports on Financial Inclusion
The Treasury Committee’s second report of session on the Financial Inclusion Strategy has been published. The report concludes that it is good that the strategy identifies many of the areas in which people...
FSMB Report stage date
The Financial Services and Markets Bill has been scheduled for its Report stage in the Lords to start on 7 September.
Complaints Commissioner publishes Annual Report
The 2025/6 report from the Financial Services Complaints Commissioner says there has been a clear shift in the nature and complexity of complaints received, and that an increasing proportion of investigations arise from...
Government updates on Transatlantic aims
The Transatlantic Taskforce for Markets of the Future has made recommendations on how the UK and US can collaborate further on digital assets and capital markets. On digital assets, the recommendations are: to engage a...
Government updates on Growth and Competitiveness
One year after the launch of the Financial Services Growth and Competitiveness Strategy, the Government has published an update. It notes key achievements of the past year as: putting the FSM Bill before Parliament...
Chancellor gives 2026 Mansion House speech
On 14 July, the Chancellor’s annual Mansion House Speech highlighted: progress against the economic strategy; plans to unlock investment generally and specifically though a new SME lending package; and further...
HMRC updates AML guidance
HMRC has revamped and overhauled its guidance for firms it supervises for AML purposes. The new look guidance contains sections that are common for all businesses, including a summary of the law, registration...
Report urges UK to be more ambitious on Islamic finance
A report from TheCityUK says the UK can be more ambitious, coordinated and strategic in its approach to Islamic finance, and if it does this it can capitalise on the growth opportunities that Shariah compliant finance...
FOS publishes annual report
The FOS annual report for 2025-6 notes that the past year saw the biggest change to the FOS funding model since it was created 25 years ago, together with the work on reform of the redress system. The past year saw a...
FCA charges solicitor with insider dealing
The FCA has charged a solicitor with 5 counts of insider dealing. It alleges that he used inside information obtained through his role acting on an acquisition to deal in securities of the relevant company on 5...
Committee reports on growth and competitiveness
The Financial Services Regulation Committee has given its one year update on the FCA and PRA’s secondary competitiveness and growth objective. It notes that London has maintained its second place ranking as a...
FSM Bill day 6 debate
The Committee stage in the House of Lords has held its 6th and final day of debate on the Financial Services and Markets Bill. It considered: the future of the ring-fencing regime, which gave rise to a lively debate...
Government publishes action plan progress report
HM Treasury and the Department for Business and Trade have published a progress report for the Regulation Action plan, on which they last updated in October 2025. The report looks at work across the three pillars of:...
FCA releases motor finance challenge documents
The FCA has published various documents relating to the challenge to its motor finance commission redress scheme. It has published the Tribunal’s suspension and directions orders, as well as the applications and...
FSM Bill day 5 debate
The House of Lords completed the fifth session of the report stage of the FSM Bill on 6 July. The debate included: the need for some recognition in the law of AI and technology developments; whether the FCA should be...
Financial Stability Report shows resilience still good
The July Financial Stability Report from the BoE says that the financial system overall remains resilient, as do UK households and businesses, with strength in the banking system to support any times of stress. It also...
FCA tells banks to improve basic account access
A mystery shopping exercise by the FCA found one third of experiences with basic bank accounts do not meet its expectations. Nine banks and building societies must by law offer these accounts to people who may not be...
FCA updates on complaints return
The FCA has updated its website information on complaints returns to remind firms that from 1 January 2027 there will be one single return covering the current DISP 1 Annex 1, CCR, FP, CMC and PSR returns. It says firms...
FCA publishes AI in retail financial services review
The FCA has published a review looking at how AI could reshape retail financial services. The Mills Review, which was launched in January, looks at 4 major shifts likely to impact these markets: transformation of firm...
Tribunal suspends part of motor finance scheme
The Upper Tribunal has made an order that suspends parts of the FCA’s motor finance redress scheme. It is to hear the legal challenges to the scheme in either mid December 2026 or mid February 2027 – it...
FSM Bill completes 4th Committee day
The fourth day of debate on the Financial Services and Markets Bill took place on 1 July. The main topics of discussion were international rules and growth and competitiveness. Key points made included: the need for a...
Court of Appeal allows mass motor finance claims
The Court of Appeal has dismissed an appeal by car finance lenders against a decision to allow mass claims to be brought using omnibus claim forms in respect of non-disclosed DCAs on car finance. Over 5,000 individuals...
FCA consults on closed-end fund changes
The FCA is consulting on changing the Listing Rules in respect of closed-ended investment funds. The proposals focus on conflicts management and aim to ensure that its rules apply consistently in a variety of scenarios...
BoE speaks on agentic AI
Sarah Breedon has spoken on how agentic AI is helping to transform cyber risk, markets and payments, and how the BoE is using it. She considered: the drivers of transition and financial stability risks; the financial...
New report looks at digital verification blueprint
A research report from The Global City looks at a digital verification orchestrator blueprint. This service would connect identity providers with organisations that need to verify people by enabling trusted, consent...
DRCF seeks views on consumer interest and AI
The DRCF is seeking views on: risks consumers feel they are exposed to and their attitude to risk in generative and agentic AI adoption (by 3 July); and the tools and framework that regulators and others have to manage...
FCA updates trading names guidance
The FCA has updated its website page on use of trading names. The page explains: how to add trading names to the Register; how the FCA checks whether a name is a genuine trading name (specifically, that the name is...
FCA updates on SMCR changes
The FCA has published an update on the planned SMCR changes. It has updated its “next steps” to confirm that improvements to regulatory reporting and processes will apply from 10 July, and changes to the...
PSR reports fall in payment fraud
The PSR has reported a £73m fall in payment fraud per year, and a fall in APP scams of 35,000 since the mandatory reimbursement requirement took effect. It also says that reimbursement rates are up to 65%, and that...
PRA reminds firms on protected deposit reporting requirements
The PRA has reminded firms that the “class A tariff base” for reporting under the Depositor Protection rules includes both covered deposits and the total balance of any deposits in any account which holds...
OFSI publishes ownership and control tips
OFSI has published some insights resulting from its call for evidence on ownership and control in the context of financial sanctions. Responses included: examples of where hypothetical control appears most often in...
FCA makes final crypto rules
The FCA has published its final rules setting out capital and resilience requirements for crypto and stablecoin trading firms, which complete its crypto roadmap. It has published a suite of policy statements on:...
PRA speaks on enforcement process evolution
David Chaplin of the PRA has spoken on how behaviour in regulatory investigations is evolving and how the shift to earlier engagement and “candour” can help faster and more efficient enforcement processes...
UK Finance to support voluntary digital verification plan
UK Finance is to support the group of banks and building societies who are driving forward a digital verification service led by financial institutions. The service planned would allow verification through a...
PRA publishes annual report
The PRA’s annual report, published alongside the BoE’s, looks at the activities of the past year to support its regulatory objectives. The report includes summaries of the work on: Basel 3.1 implementation...
FATF consults on payment transparency guidance
FATF is consulting on guidance on increasing payment transparency. It is proposing guidance to support the revisions to Recommendation 16, to help keep pace with the changing payments landscape. It expects all countries...
DRCF calls for views on authentication and trust
The Digital Regulation Cooperation Forum is calling for views on developments, opportunities and challenges associated with digital verification and synthetic media/deeptakes. The input will feed into its new series on...
FCA censures firm over Wealthtek losses
The FCA has censured CACEIS UK for failing to act on information that meant WealthTek clients were exposed to financial crime risks. The firm will make a voluntary payment of £31.7m to WealthTek clients. The firm, an...
FATF highlights terrorist financing risks of tech
FATF has published a report on key trends and typologies where social media is being abused to finance terrorist activity. The report covers all social media, instant messaging and streaming plaforms, and looks at how...
FSM Bill completes third day
The FSM Bill has completed its third day in the Committee stage in the Lords, and will enter its fourth day on 1 July. At the first session, on 22 June, the Committee discussed several core conduct issues, including:...
Firm loses appeal against publication of investigation
Promethean Finance appealed to the Upper Tribunal against the FCA’s decision to publish its decision to cancel the firm’s permission. The firm had become authorised as a debt packager business providing debt...
FCA consults on no more Consumer Duty for overseas business
The FCA is consulting on plans to simplify its rules more for wholesale businesses involved in retail markets. It plans to: remove all business for “genuinely” non-UK customers from the scope of the Consumer...
Government responds on AML supervision reform
The Government has published its response to its consultation on reforming the AML/CTF supervisory framework for professional services firms. The FCA will become the registration body and keeper of the register of all...
BoE holds interest rates
The Monetary Policy Committee has voted by a 7-2 majority to keep the Bank Rate at 3.75% (2 members wanted to increase it to 4%). Global energy prices have fallen since the previous meeting, but are still higher than...
Committee concerned about FSM Bill and “having regard”
The Financial Services Regulation Committee is concerned about the provisions in the FSM Bill which remove the requirement for the PRA and FCA to “have regard” to regulatory principles and to show that they...
FCA speaks on financial crime prevention behind the scenes
Therese Chambers has outlined several of the initiatives the FCA takes to deter and prevent financial crime that never make the headlines. She spoke of the importance of the FCA stepping in not only when its actions...
FCA closes Drax investigation
The FCA confirmed in August 2025 that it was starting an investigation into Drax Group plc (as a listed entity) regarding disclosures to the market about the sustainability of Drax’s Canadian biomass. It has now...
FSMB amendments grow before Committee stage
As at 17 June, the tabled amendments for discussion in Committee stage of the FSM Bill ran to 68 pages. Key submissions: aim to create a debate on what the new look consumer credit regulatory regime will look like and...
Sanctions designation does not stop possession proceedings
The High Court has granted a lender possession of a property after the borrower failed to repay the loan as a result of becoming a Designated Person. A borrower under a secured mortgage became a Designated Person for...
OFSI imposes record fine on travel tech firm
OFSI has fined Sabre Global Technologies Limited, a travel technology firm, more than £1m for breach of Russian sanctions. It found the firm repeatedly made funds and economic resources available to a designated Russian...
Wholesale Digital Markets Champion ToR
The Government has published the Terms of Reference for what Chris Woolard, the appointed Wholesale Digital Markets Champion, will focus on. Specifically, he will: establish a cross-industry taskforce; report on how UK...
FCA updates on research themes
The FCA has outlined the four themes that dictate the research it does – growth, wholesale markets, helping consumers and regulation – with questions around financial crime having a place in all of them...
PRA outlines captive plans
Shoib Khan has set out the PRA’s plans for the UK captive regime, in advance of it publishing its long-awaited consultation. He noted that if properly structured, captives could advance both the primary and...
FCA bans Collateral directors
The FCA has banned Andrew Currie and Peter Currie, who ran a P2P lender which was never authorised by the FCA. They had claimed it was authorised with interim permission, but in fact Peter Currie had fraudulently...
PRA updates insurer application forms
The PRA has updated its resources for new insurance start ups to include new forms for Lloyd’s managing agents.
FCA speaks on later life lending
Emad Aladhal, FCA director of retail banking, spoke on later life lending and its potential to become the fourth pillar in retirement. He said that at the moment, very few people think about housing wealth when...
Appeal refused in conditional sale default case
The Sheriff Appeal Court has refused permission to appeal in a case involving a conditional sale agreement. Mr G entered into a conditional sale agreement with Moneybarn No.1 Ltd in June 2023 to buy a car. Title would...
UK Finance says fraud remains national security threat
The latest Annual Fraud Report from UK Finance highlights £1.28bn reported as stolen through payment fraud in 2025 – up 4% from last year. 66% of APP frauds start online and 17% though telecoms networks. UK...
FCA consults on DEPP changes
The FCA is consulting on changes to DEPP to improve transparency and consistency, and to keep it up to date with how the FCA works in practice. It wants to make a few targeted changes including: raising the minimum fine...
ECCTA report pleased with Companies House improvements
A report into the implementation of parts 1 to 3 of ECCTA says the changes to company registration have delivered tangible benefits. It says nearly 4 million individuals have verified their identity since November 2025...
Consumer lender enters administration
Amplify Capital (U.K.) Limited, a consumer lender and credit broker which traded as Reevo Money and My Community Finance , has gone into administration with Robert Spence and Gareth Slater of Interpath Advisory...
FCA clarifies redress scheme details
The FCA has updated its website with a document giving more detail on several aspects of the motor finance commission redress scheme. The document runs to 20 pages and covers: the scope of the scheme, including the...
FCA summarises enforcement “lessons learned”
The House of Lords Financial Services Regulation Committee has published a letter from Nikhil Rathi on the lessons the FCA has learned in relation to publishing enforcement investigations. Broadly, the FCA was surprised...
FCA plans to fine individual for disclosure failures
The FCA has decided to find the Chief Executive of BancTrust, Carlos Fuenmayor, nearly £100,000 for having failed to tell the FCA about 3 issues that would have been material to its assessment of his fitness and...
Article 60C(3) exempt agreement can fall within CCA unfair relationships provisions
The Court of Appeal has published its judgment in a case involving bankruptcy order following a loan entered into under coercion. Mr H was a longstanding friend and business associate of Ms M’s then partner (Mr C)...
MLR amendments finalised
The Money Laundering and Terrorist Financing (Amendment) Regulations 2026 were made on 9 June, and in the main take effect at the end of June. Only the provisions relating to crypto-firms take effect later, at various...
Committee stage for FSM Bill to start on 22 June
The Financial Services and Markets Bill had its second reading in the Lords on 8 June and has now been scheduled for the Committee stage starting from 22 June. At second reading, Lord Stockwood introduced the Bill for...
Treasury calls for evidence on access to banking
HM Treasury has published a Call for Evidence as part of its Independent Review into Access to Banking Services. The review is looking to: identify which in-person banking services are essential or important to...
FCA gets confiscation order
The FCA has secured a confiscation order of nearly half a million pounds against Daniel Pugh, who was convicted of Ponzi scheme fraud and is currently in prison. The amount confiscated is the total value of assets the...
FCA warns on car finance “money tips”
The FCA has warned consumers about “money tips” ads for car finance that CMCs and law firms have been posting on social media. It says these ads are often disguised as apparent independent advice from an...
FCA and OFSI update MoU
The FCA and OFSI have agreed a new MoU to replace the 2023 version. As usual, the MoU addresses information sharing and cooperation, and permissible uses of information.
FCA investigates CMC
The FCA has started an enforcement investigation into Consultation Claims Limited, a claims management company. It is concerned about the firm’s activities in relation to motor finance claims between April and...
FCA updates on AML expectations for crypto firms
As part of its series of webinars for firms applying for crypto registration and authorisation, the FCA has published a set of FAQs on its expectations of firms once cryptofirms require full FCA authorisation. Among...
FCA warns football clubs on “questionable” sponsorships
The FCA has written to several football clubs to warn them about their relationships with unauthorised firms, including crypto businesses and trading platforms, who may be breaching UK laws in providing financial...
Committee report questions UK approach on stablecoins
A report from the Financial Services Regulation Committee raises concerns about how the UK proposes to regulate stablecoins. It is concerned both that the UK is lagging behind other jurisdictions in getting a regulatory...
FSM Bill to have second reading
The Financial Services and Markets Bill is scheduled to have its second reading in the House of Lords on 8 June.
Distributions for Argento Wealth investors
The FCA has confirmed that investors eligible for payment in the pro rata distribution of Argento Wealth Limited assets, following the High Court judgment of 19 May, must now act by 1 August. The FCA will write to all...
FCA announces launch of UK Payments Initiative
The new UK Payments Initiative will pave the way for progress in open banking and commercial variable recurring payments. The UKPI is an industry led scheme that the FCA says will give people more choice on how and when...
JMLSG consults on guidance changes
The JMLSG is consulting on various changes to Part I of its guidance in anticipation of the upcoming changes to the MLRs. The changes affect: para 2.9 in relation to clarifying what “unusually” means; para 5...
FCA updates on benchmark review
The FCA has continued its work on benchmarks by publishing the results of its review of benchmark calculations. It looked specifically at error handling arrangements, and saw that firms took either a quantitative (data...
FCA pleased with sanctions compliance progress but…
The FCA has been assessing firms’ sanctions systems and controls since early 2022. It latest review has found that firms have made several improvements over time, and now have controls that will often identify...
FCA publishes skilled persons report update
The FCA has published details of the number of skilled persons reports commissioned between 1 January and 301 March 2026. There were 4 in total, relating to consumer investments (2), insurance and payment and digital...
FCA wants fin prom approvers to do better
The FCA has reviewed a selection of 10 firms that approve financial promotions. It selected firms who were approving promotions for unregulated BNPL, crowdfunding and corporate finance firms.While it was pleased that...
ex LCF CEO jailed for contempt
Michael Thomson, the former CEO of LCF, has been jailed for 6 months for selling restrained luxury items. His assets are subject to restraint proceedings, and he had already received a suspended sentence for...
City of London supports drive to digital wholesale markets
The City of London Corporation will lead the secretariat working with the government to help create a tokenised wholesale financial markets system,. It plans a report on cross-border digital asset issuance in the...
FCA updates operating metrics
The FCA’s latest set of operating metrics shows new firm authorisations for consumer investments, insurance and wholesale are struggling to meet the new targets, and EMR/PSR authorisation and VOP applications also...
SMCR changes – what difference will Phase 1 make?
Read our article that looks at the immediate SMCR changes that are already in force or coming soon, ahead of more changes to come.
Study puts UK at top of foreign investment in financial and professional services
The City of London Corporation says the UK attracted £1.7bn in foreign direct investment in financial and professional services in 2025, ahead of Spain and France. It was the third most popular destination globally by...
Committee launches consumer insurance regulation inquiry
The House of Lords Financial Services Regulation Committee has launched an inquiry into the regulation of the consumer insurance market. The inquiry seeks views particularly on how home and travel insurance policies are...
PSR consults on card scheme profitability reporting
The PSR is consulting on plans to require Mastercard and Visa to report their UK financial performance after finding that the schemes’ profit margins are higher than it would expect in competitive markets. It...
PRA updates on insurance branch policy
The PRA has published its feedback statement on changes to its policy on insurance third-country branches. It has made minimal changes to what it consulted on and has now finalised changes to various relevant...
FCA publishes guide for smaller credit brokers
The FCA has published a guide intended for smaller credit brokers to understand what is required of them, and is aimed at both full permission and limited permission firms, and also those appointed as ARs or IARs for...
Treasury Committee asks FCA to update on redress scheme
The Treasury Committee has written to the FCA asking for an update on the consequences of the legal challenges to the motor finance commission redress scheme. The questions cover: consequences of the challenges –...
FCA warns young drivers about fake car insurance
The FCA is warning young drivers against buying car insurance through social media and messaging apps. It says about half of young drivers have bought cover this way, but many are not confident they would spot a scam...
FCA opens scale up unit
The FCA has opened its scale-up unit, so that fast-growing and innovative businesses can apply to get more support to help them grow. The service was already available to dual authorised firms (6 are currently in the...
Financial Services and Markets Bill starts legislative process
The Financial Services and Markets Bill has been published and has started its parliamentary passage in the House of Lords, where it has had its first reading but the second reading, which is when debate starts, does...