The FCA has welcomed a joint statement from the Investment Association, Personal Investment Management and Financial Advice Association, and Alternative Investment Management Association, supporting faster settlement of...
Category - Topics
Laura WilesFCA tests AI large language models on consumer guidance
The FCA has published a research note�on the effectiveness of large language models (LLMs) like OpenAI’s GPT series in consumer-facing financial services.
The research conducted two pilot projects: asking GPT models to generate simplified definitions of complex financial terms, tailored to specific reading ages and supported by examples; and comparing the effectiveness of consumer guidance on cash savings queries generated by LLMs with responses under a traditional website FAQ format.
The key findings were as follows:
While LLMs have strong potential to simplify complex information, enhance readability and accessibility, validating their outputs requires a robust evaluation framework that combines human judgment with automation.
LLM effectiveness is dependent on context – outcomes like user comprehension and engagement were influenced by how the model was embedded within the customer journey, including design and delivery.
There is a strong appetite for AI-drive assistance, with many users responding positively to automated support.
The FCA has also published an engagement paper which outlines proposals for live AI model testing pilots.
BoE Governor speaks on financial services trade
Andrew Bailey, Governor of the Bank of England, has delivered a speech on trade in goods and financial services at the Irish Association of Investment Managers Annual Dinner in Dublin. Bailey highlighted the importance...
FCA announces new chair of Financial Services Consumer Panel
The FCA has announced that Chris Pond will take over as chair of its Financial Services Consumer Panel from 2 June 2025. The independent panel provides advice and represents the interests of consumers in assisting the...
Tribunal approves FCA decision on ban and revised penalties for pensions directors
The Upper Tribunal has upheld the FCA’s decision to ban Toni Fox and David Price from working in financial services, revoke their senior management approvals, and impose substantial financial penalties. As directors of...
FCA responds to Which? petition on insurance
Nikhil Rathi – FCA Chief Executive – has written a letter to Which?, after the organisation delivered a petition backed by 170,000 signatories, asking the FCA to toughen up its regulation of insurance...
LSB finds financial services chatbots do not meet customer needs
The LSB has published new research which found significant inconsistencies with customers’ experiences with financial services provider ‘webchat’ services, including considerably differences in functions supported by AI...
FCA to check and update requirements, limitations and directions
The FCA has found that some of its data on the 11,000 requirements, directions or limitations that it currently applies to over 9,000 firms is out of date or has been superseded by new content. It is looking to review and update all these issues as appropriate. It plans just to make any small changes that don’t affect what a firm can or can’t do, but to contact firms to discuss any larger, more substantive changes it thinks necessary. Firms do not currently need to take any action unless the FCA contacts them.� The FCA is looking to make the changes over the next few months, so firms may see changes to the information on the Register.
Emma RadmoreNew FCA webpage for PISCES sandbox applications
A new page on the FCA website gives information about the sandbox the FCA will be running until June 2030 to test the PISCES regulatory framework. Would-be operators will be able to apply to join it in June, once the...
ESMA calls on social media companies to stop promoting unauthorised financial services
At EU level, ESMA has written to 10 of the largest social media and platform companies, asking them to please be proactive in preventing the promotion of unauthorised financial services. This follows IOSCO highlighting...
FCA apologises over mini-bond firms
The FCA has apologised to investors in 2 firms that issued mini-bonds. Basset & Gold plc and Basset & Gold Ltd were appointed representatives of three regulated firms and went out of business in 2022 and 2021...
FCA consults on stablecoins and prudential regulation of crypto firms
The FCA has published 2 consultation papers to take the next steps towards regulation of the crypto markets. the paper on stablecoin issuance and cryptoasset custody covers: requirements that issuers of qualifying...
UK Finance says over £1bn stolen in 2024
UK Finance has published its annual fraud report for 2024. Headlines include: its members reported £1.17bn stolen through authorised and unauthorised fraud, roughly the same as the previous year; 3.13m confirmed cases...
FCA speaks on rebalancing risk
Dominic Holland, director of market oversight at the FCA, has spoken on how the FCA is working to rebalance risk to spur growth, but not at the expense of consumer protection. His speech, to corporate treasurers...
FCA bans former Credit Suisse VP
The FCA has banned former Credit Suisse Vice President Detelina Subeva for lacking integrity. This is the third ban on former Credit Suisse staff following their roles in conspiracy to commit money laundering, which...
FCA stops wealth manager from carrying on any regulated activities
The FCA has imposed restrictions on Strowz Ltd, a wealth management firm. It found the firm was handling client money without adequate systems and controls to ensure it was segregated from the firm’s money, and...
PRA consults on Pillar 2A review
The PRA is consulting on Phase 1 of its Pillar 2A capital review. The paper focuses on how the PRA will address the consequential impacts of the near-final PRA rules implementing Basel 3.1, and also includes proposals to improve information, guidance and transparency for firms. Other proposed changes look to� improve the proportionality of regulation.
The changes address:
credit risk
operational risk
pension obligation risk and
market and counterparty credit risk.
Consultation closes on 5 September.
Michael LewisPSR consolidates APP reimbursement publications
The PSR has published a consolidated policy statement comprising all previous publications on the APP scam reimbursement requirement, sot that firms will now have a single point of reference. The document also...
FCA consults on streamlining complaints data reporting
The FCA is consulting on consolidating 5 current returns firms need to complete on complaints data into one, as part of its ongoing drive to cut unnecessary administrative tasks. It says the plans will help 10,000 firms...
CMA takes no action over failure to provide transaction histories
The CMA has published its determination in respect of a series of failings by Barclays to provide the required personal transaction histories to customers closing accounts. The problems arose for a number of reasons...
FCA publishes last quarter operating metrics
The FCA’s operating metrics from the quarter to end March 2025 shows 13 green, 3 amber and just one red – which was due to just one application (an MLD5 registration) being determined after the statutory deadline. 348...
FCA updates data flow diagrams for consumer credit firms
The FCA has updated its website to provide data flow diagrams to help firms complete the new CCR009 return, which replaced the CCR004 and CCR005 returns from 7 May.
PRA updates approach to international bank supervision
The PRA has updated its SS5/21 and published a policy statement on business within branches of international banks that operate in the UK, and on what it expects from those entities in terms of booking models and liquidity reporting.
It says it has updated its approach to keep its open approach to international banking, while maintaining safety of the UK system. It has increased the thresholds around FSCS-covered deposits by 30% but has also introduced a new indicative threshold of �300m of total retail and small business instant access deposits above which it would expect the bank to have a UK subsidiary rather than a branch. The PRA has made this, and a few other, changes, partly in response to lessons learnt from the Silicon Valley Bank collapse.
Treasury publishes BNPL legislation
The Government has finally published its response to its consultations on regulation of buy-now-pay-later products and services and laid the necessary legislation before Parliament.
The Government had already decided that the BNPL products that should no longer benefit from the article 60F(2) RAO exemption would be those offered by third-party providers – so that those offered by merchants would continue to benefit so long as the products met the conditions of the article. It subsequently consulted on the draft legislation it had drafted to achieve the changes.
However, in response to the draft consultation, it received many representations that allowing merchants to carry on using the exemption created an unlevel playing field, and particularly expressing concerns that large tech and e-commerce platforms would start offering BNPL agreements on a similar scale to third-party lenders. The Government acknowledges this risk but says it is important that low-risk everyday transactions should continue to be within the exemption.� It will monitor developments and respond it if sees any significant change or potential consumer harm.
The Government also intends to proceed with its proposals:
to disapply the CCA information disclosure requirements to BNPL products, so that the FCA can draft its own bespoke rules;
to retain the possibility for the court to make time orders where appropriate; and
to exempt most merchants from the need to become authorised credit brokers in order to promote BNPL products; and
urgently to put in place a temporary permissions regime for firms needing authorisation.
Once the enabling legislation is made, the FCA will then have 12 months to draft, consult on and finalise its rules, and regulation will start from mid-2026. The FCA will consult soon on its rules and will, in its consultation, set out its timescales.
Government consults on CCA reform
The Government is consulting on how it will take forward reform of the CCA. It has decided to split the reform into 2 phases. The first phase covers information requirements, sanctions and criminal offences. on...
Read our article on the FCA’s guidance for insolvency practitioners
The FCA has updated its guidance for insolvency practitioners appointed over regulated firms. Where an insolvency practitioner is appointed over a regulated firm – in an insolvency process such as administration...
NextCrowd enters administration
Business Agent Limited, trading as NextCrowd and NextFin, has entered administration. The FCA had placed restrictions on the company in July 2024 following significant regulatory breaches. Louise Longley and Julian...
FCA publishes 2024 Financial Lives survey
The FCA has published findings from its 2024 Financial Lives survey. Key findings from the latest report include: 1 in 10 people have no cash savings at all, and another 21% have less than £1,000 to draw on in an...
HM Treasury launches PISCES Sandbox to boost capital markets
HM Treasury has announced the launch of the Private Intermittent Securities and Capital Exchange System Sandbox (PISCES).� This initiative aims to support new and emerging companies to raise capital and scale up while strengthening the UK’s capital markets.
The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025, set the legal framework for PISCES.� The Regulations were made on 14 May 2025 and were laid before Parliament on 15 May 2025.� They are scheduled to come into force on 5 June 2025.� This meets the Chancellor’s Mansion House commitment to set up PISCES before the end of May and it expects trading to start in the Autumn.
Alongside the announcement HM Treasury confirmed it will legislate in the next Finance Bill to allow employers, with employee permission, to amend existing enterprise management incentive and company share option plans to include a PISCES trading event as an exercisable event, without losing tax advantages, and exempt PISCES transactions from Stamp Taxes on Shares.� This will make PISCES more appealing and encourage a greater number of businesses to use the platform.
The FCA has been designated as the regulator for the sandbox.� It is mandated to assess applications from eligible operators, impose conditions to ensure transparent trading, enforce robust disclosure requirements, and monitor market practices to prevent abuse.� The FCA will publish its rules soon after the legislation comes into force and will then accept applications to operate PISCES trading events.
Ella MarshGovernment makes PISCES legislation
The Government has laid the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025, the Regulations which set the legal framework for PISCES. This...
First pension provider completes Dashboard connection
The Pensions Dashboard Programme has issued a progress report. The report highlights that the first provider completed its connection in April, and says that consumer testing of the MoneyHelper pensions dashboard will...
Gavin EllisonPSR reflects on APP reimbursement story so far
The PSR has looked back at the 7 months since the APP scam reimbursement requirement went live. It is pleased with the data it has seen and what it has heard from firms and is generally seeing positive results. It is...
FCA consults on insurance rule simplification
The FCA is consulting on its promised plans to disapply its insurance conduct rules to dealings with large commercial customers and strip out other unnecessary requirements. In its wide ranging consultation the FCA...
CMA directs Starling over Retail Banking Order breaches
The CMA has issued directions to Starling Bank about putting in place an action plan in relation to various past breaches by the bank of the Retail Banking Market Investigation Order. The breaches included: failing to...
FCA speaks on UK-China partnership
Ashley Alder has spoken of his optimism that financial cooperation between the UK and China is on the rise following the success of January’s UK-China Economic and Financial Dialogue. He highlighted the UK’s...
FCA updates on whistleblowing data
The FCA has published its whistleblowing data for Q1 2025. Levels of reporting remain fairly consistent, with 281 reports coming in (with 752 allegations in total). Most of the reports were made online, and in 64% of cases the whistleblower shared their identity.� Over a quarter of the allegations related to compliance, closely followed by fitness and propriety.
During the period, the FCA closed 468 reports, taking significant action to manage harm in only 2.6% of cases but contacting the firm to request action or information in 41%.
Transparency International criticises overseas territory progress
Transparency International has criticised Anguilla, Bermuda, the BVI and the Turks and Caicos Islands for continuing to miss deadlines for opening up their corporate registers. As of 1 May 2025, out of the 5 Overseas...
PRA consults on removal of SS20/15 for building societies
The PRA is consulting on removing SS20/15, which sets out its supervisory expectations in relation to the treasury and lending activities of building societies, following a review that has led it to conclude that: the...
FCA extends investment research payment freedoms to pooled funds
The FCA has made its final rules that will give pooled investment funds, including UCITS and AIF managers, more flexibility in how they pay for investment research. The changes mirror those from summer 2024 that applied...
BVCA reports large increase in venture capital funding
The BVCA reports that venture capital funds managed from the UK reached �4bn in 2024 – almost double that of 2023, and returning to previous levels. 2024 also saw a rise in venture capital funds raising capital to 48.
The UK is still the top source for venture capital funding in 2024, comprising 25% of total value raised.
Pension fund commitments to venture capital showed little progress, however, with the most significant commitments coming from overseas funds, mainly from the US. The promised investment from UK DC schemes has not yet started to happen.
Treasury Committee publishes IT failure correspondence
Among the latest publications from the Treasury Committee is some recent correspondence with banks over recent IT failures.
FCA aiming to publish Enforcement policy by June
The minutes of the latest FCA Board meeting suggest that the FCA hopes to publish its policy statement on its enforcement investigation publicity policy in May or June, and to respond “in the next few...
FCA speaks on mortgage reform
Emad Aladhal, FCA director of retail banking, spoke of the challenges people face in getting onto the mortgage ladder. He discussed the FCA’s priority of making the mortgage market more accessible while keeping it safe and resilient.
He discussed the importance of being able to get a mortgage – especially because average mortgage payments are currently 20% lower than rental costs, and renting in retirement could cost �400,000 more than owning a home.
He also said the markets and regulation need to support existing borrowers, especially as lending into later life is becoming the norm.
Speaking to the Building Societies Association, he said the reforms the FCA is looking to deliver will take a collective effort between lenders, regulators, Government, developers and others.
FCA pleased with small asset management firm compliance
The FCA has published the results of its review into smaller asset management and alternatives businesses, as part of its drive to establish which business models pose the most risks of harm to consumers. It has found...
FCA appoints payments and digital finance director
The FCA has appointed David Geale as the permanent executive director for payments and digital finance, and managing director of the PSR (while it remains in place). He will also: be responsible for helping to deliver...
AI in FS committee hears oral evidence
The Parliamentary Committee on AI in financial services has published written evidence it received and has now heard oral evidence from UK Finance, the ABI and AFME.
FCA updates AR data
The FCA has updated its website with details on the appointed representatives population and activity. There are currently around 34,000 active ARs and around 2,500 principals – both figures showing a slight...
FCA finalises change to consumer credit returns
The FCA has published its final rules and guidance on the new regulatory return (CCR009) that will collect data from firms with credit broking, debt adjusting, debt counselling and credit information service...
FCA consults on making mortgage changes easier
The FCA has published the first of its promised consultation paper on mortgage regulation reform. The paper focuses on: enabling consumers more easily to discuss options with a firm; reducing mortgage terms; and...
BoE speaks on digitalisation
Sarah Breedon has spoken on the importance of interoperability in an increasingly digitalised environment. She said the BoE is aware that developments in digital money and assets risk new systems emerging in what she...
FOS publishes half yearly complaints data
The FOS has published its complaints data for the period July to December 2024. Key statistics include: an increase of nearly 50% in new complaints compared to the same period in 2023 (141,000 new complaints) –...
FCA calls for views on regulating crypto trading platforms
Following HM Treasury’s publication of draft legislation enabling full FSMA-style regulation of activities relating to crypto-assets, the FCA is now seeking views on the regulation of cryptoasset trading platforms...
FCA imposes restrictions on Direct Trading Technologies
The FCA has issued a first supervisory notice on Direct Trading Technologies (DTT), preventing it from carrying on any regulated activities and restricting access to its clients. The restrictions require DTT to ensure...
FCA publishes latest Handbook Notice
The FCA has published its latest Handbook Notice, which confirms updates relating to its new rules on the derivatives trading obligation (DTO) and post-trade risk reduction services. The FCA has made updates to the...
Committee hears evidence on finfluencers
On 30 April 2025, the Treasury Committee heard evidence from the FCA as part of an inquiry on finfluencers. Steve Smart, Joint Executive Director for Enforcement and Market Oversight, and Lucy Casteldine, Director of...
PSR publishes annual plan and budget
The PSR has published its annual plan and budget for 2025/26, highlighting its work in the coming year as it approaches consolidation with the FCA. In the meantime, the PSR retains its remit and powers pending...
Court approves Sainsburys Bank transfer
On 1 May, the High Court handed down its judgment sanctioning a business banking transfer scheme that will transfer substantially all of Sainsbury’s Bank’s banking business to NatWest.
FCA looks at good and poor practice in international payment pricing transparency
The FCA’s latest Consumer Duty review has looked at good and poor practices in how firms communicate the cost of international payments. It reviewed websites of various payment firms, looking at whether their...
FMSB publishes good practice statement for sustainability-linked products
The FMSB has released a Statement of Good Practice for the governance of sustainability-linked products: that is, product whose characteristics very depending on whether the user achieves set sustainability or ESG...
PRA speaks on safe growth of bulk purchase annuity deals
Gareth Truran of the PRA has spoken on what the PRA is doing to react to the high levels of BPA deals, and how it is looking to ensure market safety. He focused on 3 aspects of the PRA’s work: supporting...
Financial Services Skills Commission updates on financial services skills gap
A report by the Financial Services Skills Commission says that firms in the sector have been investing significant amounts in learning, and that this should be helping to fill the skills gap, which is particularly...
Treasury publishes draft payment services framework contract termination regulations
HM Treasury has laid before Parliament draft regulations that will strengthen protections for payment service users where their provider has decided to terminate their account and withdraw the payment service. Under the...
PRA consults on management of climate-related risks
The PRA is proposing updates to its Supervisory Statement 3/19 on how banks and insurers manage climate-related risks. The speed of climate change and the widespread adverse impact over recent years can directly affect...
John ConnorChancellor heralds Financial Services Growth and Competitiveness Strategy
Rachel Reeves, speaking at the Innovate Finance Global Summit, at which the FCA also launched its latest plans to support firms’ use of AI, announced the forthcoming first UK Financial Services Growth and...
Treasury Committee report calls for action on cash acceptance
The Treasury Committee has published a report warning of the risk of creating a “two tier” society that harms the vulnerable unless the Government takes action on declining cash acceptance levels. UK law...
UK crypto business shut down following Insolvency Service investigation
BTCMining Limited – a cryptoasset business registered in the UK – has been shut down following an Insolvency Service investigation and a High Court winding up hearing on 29 April 2025. The Insolvency Service...
Updated RTGS service goes live
The BoE’s updated RTGS service – RT2 – went live on 28 April 2025. RT2 is set to support the BoE’s strategic objectives for RTGS and CHAPS, and to drive innovation and competition in wholesale...
UK Finance updates financial abuse code
UK Finance has published the third version of its Financial Abuse Code, which is designed to increase understanding amongst firms of how to identify signs of economic abuse suffered by their customers, and provides...
FCA pauses extension of SDR regime to portfolio managers
Per its announcement in February 2025, the FCA has confirmed that it will not be publishing a policy statement on plans to extend the Sustainability Disclosure Requirements (SDR) and investment labels regime to...
Treasury publishes draft crypto regulation legislation
HM Treasury has published the key draft legislation that will enable full FSMA-style regulation of activities relating to crypto-assets. The regulations, which will be subject to the affirmative resolution procedure in...
FCA speaks on market abuse
Therese Chambers, FCA joint executive director of enforcement and market oversight – has delivered a speech on the FCA’s agenda for combatting market abuse, at the City and Financial Global Market Abuse and...
FCA updates skilled persons stats
The FCA has published details of the number of skilled persons reports commissioned in the quarter to end March 2025.� Of the 7 commissioned, 6 related to consumer investments. In terms of topic, there was a spread between conduct of business, controls and risk management frameworks, governance and financial resources.
New FCA Board members
HM Treasury and the FCA have confirmed that Julia Black, Anita Kimber, John Ball and Stephane Malrait have joined the FCA Board as NEDs, and that Richard Lloyd will serve an additional 1 year term.
FCA asks for views on live AI testing plans
The FCA is asking for views on AI Live Testing which it plans to launch as part of its AI Lab, to support firms’ safe and responsible deployment of AI. Its Engagement Paper asks particularly for views on: the...
FCA updates complaints stats
The FCA has updated its complaints data for H2 2024. Based on aggregate data; there was a slight decrease in complaints from H1; overall, complaints numbers have been relatively steady for the past 4 years; all products...
Treasury outlines new customer protections against debanking
HM Treasury has outlined new rules which will require banks and other payment service providers (PSPs) to give customers 90 days’ notice before closing an account or terminating a payment service. Relevant firms...
FCA speaks on digital asset regulation
Jessica Rusu – FCA Chief Data, Information and Intelligence Officer – has delivered a speech on global responses to digital asset regulation at TheCityUK International Conference 2025. Rusu highlighted the...
BoE sets out key elements of its 2025 CCP stress test
The BoE has set out key elements of its 2025 stress test of UK central counterparties (CCPs), and published a spreadsheet containing risk factor shocks for each market stress scenario. This year’s test will focus...
FCA to replace portfolio letters with market reports
The FCA has confirmed that from 30 April 2025, it will no longer issue and publish portfolio letters to firms. Instead, it will publish a small number of market reports that include communications relevant to different...
SFO gives corporate co-operation guidance
The SFO has published guidance for corporates setting out the factors it considers when deciding whether to charge corporates with criminal offences or invite them to negotiate a deferred prosecution. The key message is...
FCA consults on investment firm capital simplification
The FCA is consulting on plans to simplify its rules on the amount of capital investment firms need. It is not planning to change the fundamental requirement, but things it can reduce the volume of legal text that sets...
High Court finds EMI was “on enquiry” of potential fraud and breached Quincecare duty
The High Court has supported victims of an APP scam who brought a “derivative” action for reimbursement against a PSP in place of the PSP’s customer company, which the victims had been duped into...
Committee inquiry to hear evidence from FCA on finfluencers
The Treasury Committee will hear evidence from the FCA as part of an inquiry on finfluencers at a meeting on 30 April 2025. Evidence will be heard from Steve Smart, Joint Executive Director for Enforcement and Market...
FCA publishes AI sprint summary
The FCA has published a summary of the AI sprint it held in January, which had 115 participants. 4 common themes came out of the event: that firms need clarity from the FCA on how regulatory frameworks apply to AI; the...
PRA consults on MiFID Org Reg restatement
The PRA is consulting on how it will subsume the requirements of the MiFID Org Reg assimilated law into its Rulebook before the law itself is repealed. It is not planning to impose any new requirements on firms as a...
PRA sets out final rules on step-in risk assessments
The PRA has published a policy statement setting out its updated requirements on the identification and management of step-in risk The new rules – based on Basel Committee on Banking Supervision guidelines –...
PSR explores changes in the payments landscape
The PSR has considered changes in the payments landscape from consumer, merchant and industry perspectives. For consumers, the PSR notes growth in digital payments and digital wallets technology. Cards remain the most...
PSR publishes summary of scheme and processing fees roundtables
The PSR has published a summary of discussion points at the stakeholder roundtables it conducted in July 2024 on scheme and processing fees. The discussion on remedies was split into four sections, each focusing on a...
First pension provider connects to pensions dashboard system
The first pension provider has successfully connected to the live pensions dashboard system, following the DWP’s staged timetable. The development follows the three volunteer participant connection journeys...
BoE publishes Q1 2025 credit conditions survey
The BoE has published its credit conditions survey for Q1 2025. The quarterly survey covers secured and unsecured lending to households, and lending to non-financial corporations, non-bank financial firms and small...
UK Finance feeds back on use of AI
UK Finance has responded to the Treasury Committee call for evidence on use of AI in financial services. The response highlights: that adoption of AI varies significantly across financial services, but most...
UK insurance firm charged with “failure to prevent” offence
The SFO has charged United Insurance Brokers Limited with failing to prevent its US based intermediaries from bribing Ecuadorian state officials. The alleged activities happened between 2013 and 2016 and relate to...
TheCityUK reports on UK position in global climate financing markets
The City of London Corporation and the UK Carbon Markets Forum have published a report that highlights the strengths of the UK as a global leader in climate finance. The key factors that position the UK as a global...
Court refuses judicial review application on time barred complaint
The High Court has refused an application for a judicial review of a FOS decision that it had no jurisdiction to address a complaint because the complaint was made out of time. The claimants had complained to their...
FCA speaks on delivering enforcement priorities in collaboration with the US
Therese Chambers – FCA joint executive director of enforcement and market oversight – has delivered a speech on delivering enforcement priorities at the Spring Conference of NYU’s Program on Corporate...
FCA consults on CCI and simplification of investor disclosures
The FCA is consulting on ways to simplify investor disclosures relating to Consumer Composite Investments. It says nearly a quarter of UK adults hold a product which comes within the UK’s new concept of a CCI...
FCA identifies first set of unnecessary data reporting
The FCA is consulting on removing 3 streams of data that it currently collects from firms by way of regulatory returns. As promised, it says this will reduce the reporting burden for 16,000 firms. It proposes to remove:...
API enters special administration
Blackthorn Finance Ltd, an authorised payment institution, has entered special administration. The FCA had imposed restrictions and an asset requirement on the firm in late 2023 and the firm had entered members...
Employment Key Facts – at a glance
We’ve updated our key facts document to include all the latest statutory figures on tribunal awards and calculations, consultation periods, minimum wage, sickness and family payments and statutory notices.
Karen Plumbley-JonesEmployment legislation update – April 2025
The past few weeks have seen a lot of action on the legislative front. Employment Rights Bill – the Bill was introduced in the House of Lords and had its first reading on 14 March. It passed its second reading on 27...