The FCA is consulting on a new and consolidated regime of Fund Reporting for Asset Management Entities (FRAME). Key proposals include: Creating a consolidated reporting regime for UK funds (FRAME) to replace the...
Author - Laura Wiles
Laura Wiles
FCA consults on simplifying remuneration rules
The FCA is consulting on simplifying the remuneration regime for solo-regulated firms. Key proposals include: Replacing the existing AIGM, UCITS and MiFIDPRU remuneration codes with a single consolidated code; Moving...
FCA consults on overhaul of AIFM regime
The FCA has published a consultation on new rules for the AIFM regime, Key proposals include: Replacing the current EU-derived framework with a more proportionate UK-specific regime; Introducing a new three-tier AIFM...
Government appoints Wholesale Digital Markets Champion
To support the delivery of tokenisation in wholesale financial markets, the Government has appointed Chris Woolard as the Wholesale Digital Markets Champion. Woolard will be tasked with: Establish a cross-industry...
Treasury to expand Growth Guarantee Scheme for small businesses
The Government has announced that an additional 12,000 SMEs per year will receive support accessing finance as part of an initiative expanding the Growth Guarantee Scheme. The changes will include: Facilitating an...
FCA and DWP amend consultation on Value for Money framework
The FCA and Department for Work and Pensions (DWP) have issued a joint consultation on draft rules and regulations under the Value for Money (VFM) framework. The VFM framework aims to shift the pensions market focus...
FCA publishes review on products and services outcome
The FCA has published a review outlining good practice and areas for improvement in firms’ approaches to products and services. Design and target market Good practice in this area included: Mapping customer needs...
FCA publishes guidance on crypto application form
The FCA has published an information sheet about the authorisation application form for cryptoasset firms. The note outlines: Core components of the authorisation application, including specific information required for...
BoE sets fees for FMI supervision in 2026/27
BoE has published its fees for financial market infrastructure (FMI) supervision in 2026/27. The total FMI levy will increase by 3% to £18m. Respondents welcomed the reduction in UK CCP fees against the figure...
PRA sets fees and levies for 2026/27
PRA has published its fees and levies for 2026/27. The Total Funding Requirement (TFR) will be £345.3m, 0.4% (£1.3m) lower than the proposed figure and 1.4% (£4.9m) lower than the TFR for 2025/26. The Annual Funding...
FCA publishes research on cryptoasset markets
The FCA has published market description research on the development of cryptoasset markets in the UK and globally. The research provides an overview of how the markets operate, including the types of cryptoassets...
FCA consults on simplifying consumer investment disclosures
The FCA is consulting on simplifying consumer investment disclosures. The regulator is proposing to align cost disclosure requirements derived from the MiFID regime with the Consumer Composite Investments (CCI) regime...
FCA finds poor value in legacy unit-linked pensions products
The FCA has published a multi-firm review of Consumer Duty price and value practices in unit-linked pensions and savings. Overall, the review found that unit-linked products deliver fair value, but customers holding...
FCA sets 2026/27 fees
The FCA has published its fees and levies for 2026/27. Changes include: A £16m (22.9%) increase in the FOS compulsory jurisdiction levy, which for 2026/27 totals £86m; A £5.4m (0.7%) increase in the Annual Funding...
UK takes over FATF presidency
The UK has taken over presidency of the Financial Action Task Force (FATF). Giles Thomson – the new president, – succeeds Elisa de Anda Madrazo of Mexico. Thomson also serves as Director for Economic Crime...
FOS exceeded consumer credit complaints jurisdiction
The High Court has handed down a decision confirming that the FOS overstepped its jurisdiction under the DISP rules regarding complaint time limits. It is the first known case in which the FCA – as statutory...
FCA speaks on future of the credit market
Alison Walters – director of consumer finance at the FCA – has delivered a speech on the future of the credit market at a Credit Week: Powering the Future of Finance event. The speech noted that a more...
BoE consults on Future Retail Payments Infrastructure
The Retail Payments Infrastructure Board – an arm of the BoE – has launched a consultation on the design of the Future Retail Payments Infrastructure. The consultation asks for views on: What payments...
FCA confirms engagement with MVF scheme challengers and Tribunal
The FCA has updated its information page for firms on motor finance complaints in order to clarify uncertainties around requirements under the compensation scheme in light of ongoing legal proceedings against it. The...
FCA considers commitments offer from commodity traders involved in competition probe
The FCA has issued a statement in respect of its concerns around 11 traders that it believes may have hindered competition in commodity futures markers and infringed competition law by sharing sensitive information or...
FCA speaks on regulation in the age of AI
Nikhil Rathi – chief executive of the FCA – has delivered a speech on rethinking regulation in the age of AI at techUK’s Agents of Change: Generative and Agentic AI in Financial Services 2026 event...
OFSI considers US and UK economic sanctions regimes
HM Treasury and the Office of Financial Sanctions Implementation (OFSI) have published an overview comparing the approaches of the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and OFSI...
FCA announces launch of climate scenarios regulatory sandbox
The FCA is launching a sandbox cohort testing innovative climate scenario tools and approaches. Firms and specialists who incorporate innovative approaches to climate scenarios and are ready to test their climate...
Smaller Business Practitioner Panel responds on consumer credit fin proms
The Smaller Business Practitioner Panel (SBPP) has published its response to the FCA’s consultation on simplifying the financial promotions rules for consumer credit firms. The panel broadly agreed with the...
FCA publishes multi-firm review of insurers’ financial crime controls
The FCA has published a multi-firm review considering how firms in the retail, wholesale and life insurance sectors can improve their financial crime systems and controls. The cross-sector findings report the following...
FCA consults on money and assets scheme for SIPPs
The FCA is consulting on strengthening consumer protection and supporting sustainable market growth in the self-invested person pensions (SIPPs) market. Key proposals include: Due diligence requirements to reduce scams...
Payments firm Monevium enters special administration
Monevium Ltd – a payment services firm – has entered special administration. Adam Stephens and Christopher Allen of S&W Partners were appointed joint special administrators of the firm on 18 June 2026...
PRA consults on final Basel 3.1 element
The PRA has published a consultation on the final element of Basel 3.1 implementation in the UK: the internal model approach to market risks. Key proposals include: Extending the monitoring period for the profit and...
BoE publishes 2025 CCP Global Default Simulation findings
BoE – alongside a cohort of other CCP authorities – has published findings from the 2025 CCP Global Default Simulation exercise. The exercise demonstrated that CCPs and market participants could execute...
BoE confirms private markets system-wide exploratory scenario
BoE has confirmed details of the hypothetical macroeconomic and financial market scenario to be used in the private markets system-wide exploratory scenario. The scenario spans a 5 year window and envisages a severe but...
FCA cancels another SPI permission
The FCA has cancelled the permission of Fortune Portfolio (t/a Libra), a small payments institution which has been registered with the FCA since January 2016. In the same vein as a range of other payment institution...
Pensions Dashboard outlines responses to daily MaPS reporting proposals
The Pensions Dashboard Programme has published the outcome of its reporting standards consultation, which proposed implementing daily reporting of data to the Money and Pensions Service (MaPS) via an API. Responses...
FCA cancels permission of a further car sales firm
The FCA has issued a final notice cancelling the consumer credit permissions of 5Star Vehicle Solutions. The firm had failed to satisfy the suitability threshold condition and was not judged to be fit and proper to...
Regulators publish mortgage lending statistics
The FCA and PRA have published their mortgage lending statistics for Q1 2026. The latest findings show that: The outstanding value of all residential mortgage loans increased by 0.7% from the previous quarter, to £1...
FCA consults on further changes to mortgage rules
The FCA is consulting on further changes to mortgage lending rules, this time with the aim of helping greater numbers of creditworthy consumers access suitable mortgages. The regulator wants to increase the scope for...
FCA researches mortgage arrears risk among first-time buyers
The FCA has published a research note on mortgage arrears risk among first-time buyers, using loan-level Product Sales Data spanning 2015 to 2025. Higher income and – on average – incentivised interest rate...
Treasury publishes AI Adoption Insights signatories
The Treasury has published the signatories to its AI Adoption Insights agreement, under which industry participants commit to sharing data and insights from their business to help develop the government’s...
UK Finance launches access to banking scheme
UK Finance has announced its expanded ‘Breaking the Cycle’ pilot, aimed at improving access to banking services for people who many face barriers to opening a bank account. The initiative is delivered in...
FCA places restriction on EMI over financial crime concerns
The FCA has imposed a restriction on Euro Exchange Securities UK requiring it to cease carrying out any regulated electronic money or payment services. The regulator had serious concerns around the firm’s...
Debt resolution firms enter administration
Two debt resolution firms authorised to carry out debt purchasing and debt collection activities have entered administration. Silicon Marketing Limited entered administration on 21 May 2026, with Carrie James and Nick...
FCA proposes simplified climate disclosure rules
The FCA has published its latest quarterly consultation on miscellaneous amendments to its Handbook. Proposed amendments include: Following a post-implementation review of climate disclosure rules, simplifying...
BoE and FCA reaffirm FMI MoU
BoE and FCA have reaffirmed the arrangements under their Memorandum of Understanding on the supervision of FMIs. The regulators consider that the arrangements remain effective, highlighted recent collaborations in...
AR data shows increased revenue but fewer principals
The FCA has updated its website with details on the appointed representatives population and activity. There are currently around 33,000 active ARs and 2,400 principals, representing a reduction of 5.3% in principals...
FCA cancels permission of another car sales company
The FCA has issued a final notice cancelling the consumer credit permissions of 786 Motor Solutions. The firm had failed to satisfy the suitability threshold condition and was not judged to be fit and proper to conduct...
FOS warns that festival refunds are not guaranteed
The FOS has clarified misconceptions around section 75 or chargeback claims, warning consumers that refunds of festival tickets may not be guaranteed. It also highlighted that it receives thousands of complaints each...
FCA introduces Retail Banking Business Model return
The FCA is introducing an annual regulatory reporting return for retail banks and building societies, which will replace its d hoc collections of Retail Banking Business Model (R2B2) data. The return will feature a core...
FCA publishes latest Handbook Notice
The FCA has published Handbook Notice 141 which sets out a number of changes, most of which we’ve reported on elsewhere, including: Changes to COLL to support the use of distributed ledger technology (DLT) in authorised...
FCA to host Annual Public Meeting in Edinburgh for the first time
The FCA will hold its Annual Public Meeting in Edinburgh on 6 October 2026. The regulator has today opened a new office space in Edinburgh, and the event later this year will mark the first time the APM has been held in...
SPI SB Remit enters administration
Sukate & Bezeboh Ltd (t/a SB Remit) – a small payments institution (SPI) – has entered administration. Frank Ofonagoro and Charles Turner of Opus were appointed joint administrators of the firm on 22 May...
Independent report recommends lead facilitator for open banking standards entity
The FCA has published an independent report from KPMG on proposals for the establishing a future open banking standards-setting body. As multiple organisations have expressed interest in facilitating the design of the...
FCA will “robustly” defend motor finance scheme
Further to a statement expressing its disappointment over certain responses to its motor finance redress scheme earlier this week, the FCA has published details of its approach to the proposed challenges. The regulator...
FCA charges unauthorised mortgage broker
The FCA has charged Shaun Lawrence for unauthorised mortgage broking activities. Mr Lawrence had previously been authorised to give mortgage advice, but had his permissions revoked in 2008, and was simultaneously fined...
FCA to open pre-application meetings for crypto firms
Cryptoasset firms preparing for the new authorisation regime under FSMA will be able to request pre-application meetings with the FCA from 11 May 2026 via the Pre-Application Support Service (PASS). PASS meetings are...
FCA denies further remediation for Wellesley complainants
The FCA has issued a response to complaints regarding its handling of Wellesley & Co, a formerly authorised firm which had promoted and arranged high-risk property development investments which were not covered by...
FCA cancels permission of car sales company
The FCA has issued a final notice cancelling the permission of Dhillon Motor Holdings. The firm had failed to satisfy the suitability threshold condition and was not judged to be fit and proper to conduct regulated...
FCA cancels permissions and SPI registration
The FCA has issued final notices cancelling the Part 4A permission of Yes You Can and the small payment institution (SPI) registration of Owenico Finance. The former cancellation was on the basis that Yes You Can had...
FCA leads on action against finfluencers
The FCA has led a second international ‘week of action’ targeting illegal finfluencers. 17 global regulators were involved in the programme, which included enforcement activity, consumer awareness campaigns...
FCA publishes good practice examples from Cyber Coordination Group
The FCA has published good and poor practice emerging from its Cyber Coordination Group (CCG) in 2025 covering key resilience topics like: incident response practices and recovery at scale; implications of AI, quantum...
FCA publishes latest Handbook Notice
The FCA has published Handbook Notice 140 which sets out a number of changes, most of which we’ve reported on elsewhere, including: Updating the FEES manual to reflect the 2026/27 management expenses levy limit;...
PRA and BoE consult on 2026/27 fees
The PRA is consulting on its regulatory fees and levies for 2026/27 Key changes include: An increase of £3.6m in the costs allocated funding the Future Banking Data programme; Increasing several non-periodic fees in...
Regulators reject AI “wait and see” criticism
The Treasury Committee has published responses from the Treasury, FCA and BoE to its report on AI in financial services which warned of the risks of poor AI supervision. All three regulators reject the characterisation...
FCA simplifies short selling regime
The FCA has published its final rules simplifying the UK short selling regime, which aims to reduce the reporting burden on firms, while maintaining regulatory oversight. The key changes are: Shifting to anonymised...
OFSI extends deadline on ownership and control call for evidence
The Office of Financial Sanctions Implementation (OFSI) has extended the deadline on its call for evidence on the ownership and control test in UK financial sanctions regulations by one week. The call for evidence now...
FCA bans CMC’s misleading MVF commission adverts
The FCA has banned misleading adverts published by Conclusive Finance Ltd – a claims management company which also trades as PCP Refunds – relating to motor finance commission redress. Specifically, the FCA...
FCA updates fake communications list
The FCA has updated its list of fake FCA communications, alerting firms that it has received reports of fake letters claiming to be from its deputy chief, Sarah Pritchard, and referencing a fake FCA employee. The letter...
FCA confirms increase in FOS award limits
The FCA has confirmed that from 1 April 2026, FOS award limits will increase to: £455,000 for complaints about acts or omissions by firms on or after 1 April 2019 (an increase of £10,000); and £205,000 for complaints...
Crowdfunding platform enters administration
Shojin Financial Services Limited – a crowdfunding platform authorised by the FCA – has entered administration. Simon Carvill-Biggs and Ian Corfield of FRP were appointed joint administrators of the firm on...
FCA tightens eligibility requirements in final motor finance compensation scheme
The FCA has published a policy statement setting out of the terms of its motor finance redress scheme. The consultation received over 1,000 responses, with conflicting feedback as to the FCA’s proposals. The core...
Regulators launch taskforce to address poor practice in motor finance claims handling
The FCA has joined forces with the Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO) and Advertising Standards Authority (ASA) to create a taskforce for tackling poor practice in motor...
Lenders reaffirm Mortgage Charter commitment amid global uncertainty
The Chancellor and Economic Secretary have assembled the six largest banks and building societies, as well as UK Finance, to discuss the impact of the Iran conflict on households and small businesses, and to reaffirm...
FCA publishes latest Handbook Notice
The FCA has published Handbook Notice 139, which sets out a number of changes, most of which we’ve reported on elsewhere, including: As part of redress reforms, amends to clarify when firms should report emerging...
FCA reflects on operational resilience regime one year on
A year on from the implementation of its operational resilience rules, the FCA has set out good and poor practice for firms. The regulator also noted that operational disruptions among cloud service providers in 2025...
FCA fines investment firm over market abuse controls failure
The FCA has fined investment firm Dinosaur Merchant Bank Limited £338k for failing to implement systems and controls to detect and reporting suspicious trading in its CFD business. In June 2024, Dinosaur Merchant Bank...
FCA reflects on a year of MyFCA
The FCA has reflected on the first anniversary of the My FCA portal. The new platform is now used by all firms. As part of ongoing improvements, and following the successful removal of separate sign in for the RegData...
FCA and ICO publish joint statement on vulnerability data
The FCA and ICO have published a joint statement on regulatory expectations regarding firms’ approaches to vulnerability data. The FCA wants firms to understand the needs of vulnerable customers and take steps to...
PRA finalises changes to resolution planning requirements
The BoE and PRA have finalised changes to firms’ resolution reporting and disclosure requirements. The key changes include: Increasing the threshold for firms in scope of the Resolution Assessment Framework...
Equity for Growth (Securities) enters liquidation on petition by the FCA
Equity for Growth (Securities) Limited has entered liquidation on petition by the FCA. EFG is a corporate finance firm, and acted as principal for several appointed representatives between 2015 and 2020. The FCA...
Treasury updates on Women in Finance Charter
HM Treasury has published its annual review of progress by signatories of the Women in Finance Charter. 42% of the 210 signatories met their targets for female representation in senior manager, with a further 29% having...
Complaints Commissioner finds serious failings in FCA’s handling of British Steel Pension Scheme saga
The Financial Regulators Complaints Commission has issued its final report on allegations from former members of the British Steel Pension Scheme against the FCA. The report concluded that the handling of BSPS transfers...
FCA issues guidance on crypto MLR registration ahead of full authorisation regime
The FCA has published guidance for firms considering applying for registration under the MLRs ahead of the new cryptoasset regulation regime coming into effect in October 2027. The guidance highlights that until the new...
PSR publishes work plan and budget for 2026/27
The PSR has published its work plan for 2026/27, highlighting it continued focus on tackling high card fees, maintaining APP fraud protection, and supporting innovation and competition in the UK payments sector. In...
FCA launches synthetic data AML solution tech sprint
The FCA is launching a Synthetic Data AML Solution Sprint exploring how synthetic data can support the development of innovative AML transaction monitoring solutions. The sprint aims to: Support innovation in AML...
SFO to host International Economic Crime Conference
The Serious Fraud Office is set to host the International Economic Crime Conference in May, alongside France’s Parquet National Financier and Switzerland’s Office of the Attorney General. The three...
FCA launches market study on later life mortgages
The FCA has launched a market study into later life mortgages. The study seeks to examine whether changes are needed to enable the lifetime and retirement interest only mortgage sector to meet consumers’ needs, as...
FCA places restrictions on debt management firm
The FCA has ordered Beauforce Corporation to cease carrying out regulated activities and return all client money. The restriction means it can no longer provide regulated debt advice or debt management services to...
FCA speaks on pensions and technology
Nikhil Rathi has made a speech on pensions and technology at the JP Morgan Pensions and Savings Symposium. The speech highlighted the potential of technology to transform how consumers see their pension savings, with...
Regulators publish new rules on operational incident and third party reporting
The FCA and PRA have published their new rules on operational incident and third-party reporting. The new rules are aimed at helping the regulators respond quickly to disruptions, giving firms greater certainty on what...
Upper Tribunal publishes decision on banned FX trading firm owner
The Upper Tribunal has published its decision refusing to make non-publication orders in respect of the FCA’s decision notices against Kasim Garipoglu and his firm GKPay. Mr Garipoglu argued that the FCA was not...
Concept Capital Group enters administration, halting FCA enforcement proceedings
Concept Capital Group Ltd (CCG) has entered administration. Joanne Hammond and Jason Ainge of BTG were appointed joint administrators of the firm on 9 March 2026. In July 2025, the FCA had announced High Court...
FCA sets out good practice for consumer understanding outcome
The FCA has published findings from its review of firms’ approaches to consumer understanding. In September 2025, the FCA conducted a survey of 38 firms, including payments, insurance, retail banking, consumer...
UK Finance publish guidance on contactless limits
UK Finance has published guidance on upcoming changes to contactless limits. Currently, contactless debit and credit cards are subject to: A single transaction limit of £100 Background limits that require a consumer to...
EU-UK Financial Regulatory Forum host fifth meeting
On 11 March 2026, the fifth meeting of the Joint EU-UK Financial Regulatory Forum took place in London. The meeting emphasised the importance of maintaining regulated structured engagement on financial services...
FCA outlines regulatory priorities for retail banking
The FCA has published its regulatory priorities for the retail banking sector. The report notes that retail banking is changing significantly, with consumers using branches less and ever-diversifying digital channels...
BoE speaks on reforming cross-border payments
Andrew Bailey – BoE Governor – has delivered a speech on progress on the G20 Cross-border Payments Roadmap at the FSB Payments Summit. The speech noted that cross-border payments remain slow, expensive and...
FCA publishes quarterly consultation
The FCA has published its regular quarterly consultation on miscellaneous amendments to its Handbook. The proposed amendments include: Consequential amendments to CASS to reflect changes to the definition of designated...
Treasury publishes guidance on digital identity verification services
HM Treasury has published guidance on using digital identities with the MLRs. Entities covered by the MLRs must have customer due diligence (CDD) measures in place to verify the identity of their customers and...
SFO appoints interim director
The Serious Fraud Office has appointed Graham McNulty as interim director. His appointment takes effect at the start of April.
McNulty joined the SFO in September 2024 as Chief Operating Officer.
FCA cancels firm permissions due to late fees
The FCA has issued two final notices cancelling firms’ permissions on the basis that they are is failing to satisfy the suitability threshold condition and are not fit and proper to conduct regulated activities...
‘Finfluencers’ plead guilty to issuing unauthorised FX trading fin proms
Seven social media ‘finfluencers’ have pleaded guilty to issuing unauthorised financial promotions in relation to an unauthorised foreign exchange trading scheme. Biggs Chris, Jamie Clayton, Lauren Goodger...
PRA clarifies that Credit Unions may invest in service organisations
The PRA has published its policy statement amending the credit union investment rules to provide that credit unions may invest in credit union service organisations (CUSOs) subject to certain conditions. The changes...