FCA Invites ESG Rating Providers to Join a Voluntary Reporting Pilot
The FCA has opened a voluntary pilot for ESG rating providers to test proposed reporting metrics ahead of a future regulatory regime. Interested firms must register by 13 May 2026, after which a representative sample may be selected. The pilot will evaluate whether the metrics are clear, feasible, proportionate across business models, and useful for supervision. Feedback will shape the final design of the UK’s ESG rating reporting framework.
From Promise to Practice: Shaping Open Finance Policy with Our Smart Data Accelerator
The Smart Data Accelerator ran two TechSprints from November 2025 to February 2026, engaging 17 firms to prototype open‑finance solutions for mortgages and SME financing. Participants demonstrated how shared, trusted data can improve loan readiness, over‑payment decisions, cash‑flow management and...
Trust, Tradition and the Future of Mutual Growth
At the BSA Annual Conference, FCA deputy chief executive Sarah Pritchard outlined a regulatory overhaul aimed at making the rulebook more innovation‑friendly and outcomes‑centric for mutuals. She announced new support mechanisms, including a Mutuals Society Development Unit, a senior advisor...
FCA Looks for Members for Its Advisory Committee on Secondary Markets
The Financial Conduct Authority (FCA) is reopening recruitment for its Secondary Markets Advisory Committee, a body created in 2022 to provide independent insight into the UK’s wholesale secondary markets. The 25‑member panel will advise on reforms that boost competition, consumer...
FCA Calls on Law Firms and Claims Management Companies to Consider the Position of Their Clients
The FCA has launched a free motor‑finance redress scheme that will return roughly £7.5 bn (about $9.3 bn) to consumers affected by faulty car‑finance agreements. Over 12 million contracts signed between 2007 and 2024 are eligible, many of which did not involve the...
Supporting Fintech in the Next Phase of Innovation
At UK FinTech Week, FCA chief data officer Jessica Rusu announced the next phase of the regulator’s AI Lab, expanding compute resources through NVIDIA and Naya One and adding a live‑testing cohort that includes Barclays, GoCardless and other major firms. The...
FCA Takes Next Steps Toward Enforcement Action Against Hartley Pensions and an Individual
The UK Financial Conduct Authority (FCA) has issued warning notices to Hartley Pensions Limited and a senior individual, signalling the next phase of potential enforcement. The regulator alleges the pension firm supplied false information and withdrew customers' SIPP funds without...
FCA Introduces Clearer and Simpler Short Selling Rules
The UK Financial Conduct Authority has finalized a streamlined short‑selling regime that replaces individual seller disclosures with aggregated net‑short data. The new rules extend the reporting timetable, giving firms more time to calculate positions, and simplify market‑maker notifications to an...
Year 2 Consumer Duty Board Reports: Progress and What Comes Next
The FCA’s second‑year Consumer Duty board reports reveal that firms are tightening governance, with boards formally reviewing and signing off on outcomes and action plans. Data usage has broadened, incorporating both quantitative trends and qualitative insights, especially for vulnerable customers....
FCA Bans CMC's Misleading Adverts
The FCA ordered claims management firm Conclusive Financial Ltd, trading as PCP Refunds, to remove or amend its advertising after it ran misleading claims about motor‑finance compensation. The adverts promised an average payout of £1,846 (about $2,300) without explaining the...
Spotting Risk Earlier by Tracking Consumer Credit Journeys
The UK Financial Conduct Authority (FCA) is piloting a data‑driven framework that uses credit‑file information from a major credit reference agency to forecast consumer distress earlier than traditional metrics. By applying advanced statistical techniques, the FCA classifies borrowers into five...
FCA Imposes Restrictions on Bazar Money Transfer Limited
On 21 November 2025 the FCA imposed restrictions on Bazar Money Transfer Limited, preventing it from providing regulated payment services. The firm failed to meet registration conditions as a small payment institution, prompting the regulator’s protective action. After BMTL’s representations,...
Shojin Financial Services Limited Enters Administration
Shojin Financial Services Limited, an FCA‑regulated crowdfunding platform that financed property‑development loans, entered administration on 23 March 2026. Joint Administrators Simon Carvill‑Biggs and Ian Corfield of FRP Trading Advisory were appointed to manage the process. The FCA is working with the administrators to safeguard...
My FCA Marks First Year with a Single, Streamlined Sign in for All Firms
My FCA celebrates its first year, offering a single sign‑on that consolidates RegData, Connect and the Online Invoicing System into one homepage. All existing links now automatically redirect to My FCA, eliminating the need for multiple logins. The platform is...
Equity for Growth (Securities) Limited Enters Liquidation
Equity for Growth (Securities) Limited was ordered into liquidation by the High Court after the FCA filed a winding‑up petition in October 2024. The regulator cited a surge of investor complaints, including mini‑bond scams promoted by the firm’s appointed representatives,...
FCA Responds to Complaint Commissioner’s Report on the British Steel Pension Scheme
The FCA announced a £106 million (≈$135 million) redress package for 1,870 former members of the British Steel Pension Scheme (BSPS) who received unsuitable advice on defined‑benefit transfers. More than 6,500 ex‑members have lodged complaints, prompting enforcement actions against over 20 advisers...
FCA Sets Out Next Phase of Smarter, More Effective Regulation
The Financial Conduct Authority (FCA) unveiled its 2026/27 work programme, emphasizing AI‑driven authorisations, generative‑AI document review and a new sandbox for automated data feeds. The regulator plans to keep fee increases to just 1%, the smallest rise since 2017, while...
FCA Highlights Risks when Dealing with Unregulated Lenders
The FCA reminded regulated firms to conduct proper due diligence when dealing with unregulated lenders, safe‑custody providers, money brokers and financial leasing companies, known as Annex 1 firms. About 1,200 Annex 1 firms are registered solely for anti‑money‑laundering (AML) purposes and are...
Creating a Redress System that Works Better for Consumers and Firms
The FCA announced a joint initiative with the Financial Ombudsman Service and the UK government to modernise the financial redress system, introducing a new complaint registration stage, updated dismissal grounds and clearer guidance on the fair‑and‑reasonable test. The reforms aim...
Man Jailed for Running Illegal Sale-and-Rent-Back Scheme Targeting Struggling Homeowners
Rajinder Gill was sentenced to two and a half years in prison for operating an unauthorised sale‑and‑rent‑back scheme that defrauded vulnerable homeowners of £925,233. The scheme, run through Secure Property Consultants Ltd, forced owners to sell below market value, pay...
Concept Capital Group Update: Administrators Appointed
On 9 March 2026 the High Court appointed BTG as administrators of Concept Capital Group (CCG) after an application filed in February. The FCA had previously frozen roughly £23 million of CCG assets and launched High Court proceedings in July 2025 over an alleged...
Second Charge Mortgage Firms Told to Raise Standards for Consumers
The FCA has warned second‑charge mortgage lenders and brokers to raise standards after a review uncovered weak affordability checks, inappropriate debt‑consolidation advice, poor record‑keeping and opaque fees. The sector, which serves borrowers with high debt and low resilience, accounts for...
Stepping Back, Staying Safe: A Joined-Up Approach to Growth
At the MoneyLIVE Summit 2026, FCA executive David Geale outlined the planned consolidation of the Payment Systems Regulator into the FCA, promising a single, coordinated payments oversight body. He highlighted recent pro‑growth reforms, including the removal of the £100 contactless...
Renaissance at Market Speed: UK Wholesale Finance in 2026
At the Goldman Sachs EMEA Head of Trading conference, FCA chief executive Nikhil Rathi outlined a sweeping reform agenda aimed at cementing the UK’s position as a global wholesale‑finance hub. He highlighted recent regulatory wins – from tighter market‑abuse enforcement...
Tribunal Upholds Bans and Fines for Reckless Adviser and Fund Manager
The Upper Tribunal upheld the FCA's bans on Stephen Joseph Burdett and James Paul Goodchild, senior advisers at Synergy Wealth and Westbury Private Clients, for recklessly exposing pension holders to unsuitable, high‑risk investments. The pair were fined £265,071 and £47,600...
FCA Exchanges Letters on Cooperation with India Regulator, IFSCA
The Financial Conduct Authority (FCA) has signed an Exchange of Letters with India’s International Financial Services Centres Authority (IFSCA), the regulator for GIFT City. The pact commits both bodies to share regulatory knowledge and best‑practice insights, aiming to strengthen links...
OFSI and Partners Clamp Down on the Abuse of Cryptoassets
UK’s Office of Financial Sanctions Implementation (OFSI) announced a coordinated crackdown on the misuse of cryptoassets for money‑laundering and sanctions evasion, working alongside law‑enforcement agencies and regulatory partners. The initiative includes heightened monitoring, enforcement actions, and the release of updated...
FCA Seeks Views on How to Help Close the Protection Gap
The UK Financial Conduct Authority (FCA) has released interim findings from its competition review of pure protection insurance, highlighting that while the market functions well for existing policyholders, 58% of adults remain uninsured. The review notes stable premiums, a wide...
Next Steps for Establishing a Bond Consolidated Tape Provider
The FCA has signed a contract with Etrading Software (ETS) to build a UK bond consolidated tape, aiming to deliver a high‑quality data stream for investors. The tape will improve price discovery, liquidity, and market transparency, supporting the UK’s competitive...
Emil the Seal Hijacks Waterloo Station to Warn Commuters About Investment Scams
The FCA staged a pop‑up ATM at London Waterloo featuring its mascot Emil the Seal to promote its new Firm Checker tool. The stunt highlighted that around 700,000 adults lost money to investment scams in the past year. The interactive...
AI Live Testing: How It Can Support Safe and Responsible AI Deployment
The UK Financial Conduct Authority (FCA) has opened a second application window for its AI Live Testing programme, inviting firms to trial AI‑driven services in real‑world market conditions with regulatory oversight and technical support from Advai. The initiative targets companies...
The FCA’s Long Term Review Into AI and Retail Financial Services: Designing for the Unknown
Sheldon Mills announced that the FCA is undertaking a long‑term review of artificial intelligence in retail financial services, with findings to be presented to the board this summer. The review will explore how generative AI, multimodal models and autonomous agents...
Falling Cost of Premium Finance Saving Consumers Around £157m a Year
UK insurers have reduced the cost of premium finance, saving consumers about £157 million a year. Interest rates on financed insurance dropped an average 4.1 percentage points since 2022, cutting typical motor policy costs by £8 and home policies by £3...
Regulators Announce First Firms to Join Scale-Up Unit
The Prudential Regulation Authority and Financial Conduct Authority have unveiled the first cohort of their joint Scale‑up Unit, targeting fast‑growing financial firms. Six institutions – Allica Bank, ClearBank, Monument Bank, Nottingham Building Society, OakNorth Bank and Zopa Bank – will...
Upper Tribunal Finds that Banque Havilland Devised a Plan to Harm the Qatari Economy
The Upper Tribunal upheld the FCA’s ruling that Rangecourt S.A., formerly Banque Havilland, and former executives Edmund Rowland and Vladimir Bolelyy acted without integrity by devising a scheme to devalue the Qatari riyal. The Tribunal confirmed fines of £4 million for...
FCA and SRA Joint Message to Professional Representatives on Motor Finance Commission Claims: Dealing with Multiple Representation and Excessive Termination...
The FCA and SRA have jointly warned claims‑management firms and law firms handling motor‑finance redress that clients must not be represented by multiple agents on the same claim and should not face excessive termination fees. They cite cases where up...
FCA and SRA Issue Joint Warning to Firms Representing Motor Finance Commission Claims
The Financial Conduct Authority and the Solicitors Regulation Authority have issued a joint warning to claims‑management companies and law firms handling motor‑finance commission claims, demanding verification that consumers are not already represented and prohibiting excessive termination fees. Any exit charge...
FCA Stops Advantage Wealth Management Ltd From Carrying Out Regulated Activities and Imposes Assets Restriction
The Financial Conduct Authority has placed Advantage Wealth Management Ltd (AWM) under strict restrictions, requiring written FCA consent before any asset disposal or regulated activity. The regulator cited concerns over how customers' investments were shifted into cash, inadequate financial resources,...
Gemini Payments UK Ltd and Gemini Intergalactic UK Ltd Exit the UK Market
Gemini Payments UK Ltd and Gemini Intergalactic UK Ltd announced a complete market exit, closing all UK customer accounts on 6 April 2026. The e‑money arm will operate normally until 4 March, after which accounts shift to withdrawal‑only mode from 5 March. Crypto‑asset services...
Independent Assessment to Support Establishment of a Future Entity
The Financial Conduct Authority (FCA) has released a letter to trade associations announcing KPMG’s appointment to conduct an independent assessment of proposals for a Future Entity that would set standards for UK open‑banking APIs. The assessment will evaluate governance, technical...
FCA Fines Two Individuals a Combined £108,731 for Insider Dealing
The FCA fined Dipesh Kerai (£52,731) and Bhavesh Hirani (£56,000) for insider dealing in Bidstack Group Plc shares, totalling £108,731 in penalties. Hirani, then interim CFO, leaked confidential details of a major advertising deal to Kerai, who bought 1.3 million shares before the...
HTX (Formerly Huobi): Legal Proceedings Information
The UK Financial Conduct Authority (FCA) initiated legal proceedings on 21 October 2025 against Huobi Global S.A. and several unidentified individuals linked to the HTX cryptocurrency exchange. The case was filed in the Chancery Division of the High Court, and on 4 February 2026...