Is the Claims Management Market Working?
The FCA is launching a comprehensive review of the claims management market after identifying widespread misconduct in car‑finance and housing‑disrepair claims. Since January 2024 the regulator has removed or amended more than 1,000 misleading adverts and forced three firms to cut unreasonable fees, shielding over half a million consumers. A joint taskforce with the SRA, ICO and ASA will probe advertising, consent and offshore funding practices. The study will evaluate price caps, firm resilience and regulatory inconsistencies to shape future reforms.
FCA, Bank of England and Treasury Joint Statement on Frontier AI Models and Cyber Resilience
The FCA, Bank of England and Treasury issued a joint statement warning that frontier AI models are already capable of automating cyber attacks at scale, creating new threats to the safety and soundness of UK financial firms. Regulators outlined five...
FCA Announces New Appointments to Executive Team
The FCA announced two permanent senior appointments: Simon Walls as executive director of markets and Johan Sekora as chief operating officer. Walls, who has led the FCA’s wholesale‑markets work on an interim basis since 2024, brings two decades of experience navigating...
Supporting Customers Through Challenging Times
The FCA warns that the Middle East conflict is intensifying cost‑of‑living pressures, and under the Consumer Duty firms must actively monitor and prevent foreseeable harm to vulnerable customers. It outlines practical expectations across product suitability, fair‑value reviews, clear communication, and...
Restrictions Imposed on Kingscrown Finance Limited
Kingscrown Finance Limited announced that, effective 21 April 2026, it will cease onboarding new customers and will not extend any further credit to existing clients. The firm, which offers business and property‑investment loans, has never been authorised or registered with the FCA....
Laying the Foundation for Confidence
Sarah Pritchard, deputy chief executive of the Investment Association, used the IA Private Markets Summit to stress that market stress is normal but must be managed through system‑wide resilience. She announced IA’s support for the Bank of England’s new System‑Wide...
Kanda Products & Services Ltd Enters Liquidation
Kanda Products & Services Ltd entered liquidation on 6 May 2026, with FRP Advisory Trading Ltd’s Philip Harris and Neville Side appointed as joint liquidators. The FCA‑authorised credit broker previously ran a network of roughly 700 introducer‑appointed representatives (IARs) that linked tradespeople...
FCA to Review Claims Management Practices
The FCA announced a comprehensive review of the claims management sector after identifying persistent consumer harm from aggressive marketing, misleading adverts and unfair exit fees. The inquiry, conducted with the Solicitors Regulation Authority and other regulators, will assess fair value,...
Statement on Complaints About Wellesley & Co Ltd
The FCA has responded to a wave of complaints concerning Wellesley & Co Ltd (WCL), the sole FCA‑regulated firm within the broader Wellesley Group. After reviewing the cases, the regulator upheld a single complaint about how part of WCL’s authorisation...
A Reform-Minded Regulator
In a speech to the Association of Foreign Banks, FCA chief executive Nikhil Rathi highlighted the UK’s market resilience and record trading volumes – Brent up 69%, Gasoil 55% and copper derivatives 44% year‑on‑year, with short‑term interest‑rate futures more than...
FCA Charges Shaun Lawrence for Unauthorised Mortgage Broking
The UK Financial Conduct Authority has charged Shaun Lawrence, also known as Shaun Lawrence-Bright, with operating as an unauthorised mortgage broker. Lawrence previously held authorisation to give mortgage advice but lost his permissions in 2008 and was barred from regulated...
Cryptoasset Firms Can Request Pre-Application Meetings From 11 May 2026
Starting 11 May 2026, crypto‑asset firms can request free pre‑application meetings through the FCA’s Pre‑Application Support Service (PASS). The meetings, scheduled on a rolling basis from July 2026, let firms discuss their plans before filing for authorisation or permission changes. The FCA’s new...
Three Arrested in FCA Investigation Into Suspected Unlawful Financial Promotions
The Financial Conduct Authority, together with the Eastern Regional Special Operations Unit, arrested three individuals in a coordinated crackdown on illegal financial promotions. Police searched two properties in Chelmsford and Romford as part of the operation. The suspects are alleged...
FCA Statement on Legal Challenges to Motor Finance Scheme
The FCA says its industry‑wide motor‑finance compensation scheme is the quickest, simplest way to resolve long‑standing claims in the UK’s £39bn (≈$50bn) market, and it has secured broad lender support. However, four legal challenges have been lodged – one by...
FCA Board Appoints 2 New Members to the Regulatory Decisions Committee
The Financial Conduct Authority (FCA) Board has appointed Jonathan Peddie and Raymond Cox KC as new members of its Regulatory Decisions Committee (RDC). The RDC handles contested enforcement actions, making independent, evidence‑based decisions on behalf of the FCA. Both appointees bring extensive...