Wealth & Private Banking regulatory updates from United Kingdom.
We track 187 Wealth & Private Banking updates from United Kingdom regulators, published by FCA, BoE and PRA. The archive covers 55 news items, 54 speeches and 22 warnings. Most recent update: October 2026. Coverage runs from 2024 to 2026.
CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised…
Why this matters
The publication type is a warning. It names a specific clone firm, its contact details and websites, and the genuine firm it impersonates (Links Wealth Management Limited, a wealth manager). It flags active fraud against consumers, so urgency is high.
Detailed findings from our multi-firm review of how firms identify, manage, mitigate and disclose conflicts of interest in private market assets.
AI Analysis
On 2026-10-23, the FCA published findings from a multi-firm review of conflicts of interest and fair customer treatment in private equity, private credit and real estate activities. The review found materially uneven standards, with recurring weaknesses in cross-fund transfers and continuation transactions, gifts and entertainment, information barriers, transactional escalation and controls that had not kept pace with business complexity.
Key dates
2026-10-23
The FCA published the multi-firm review findings and associated supervisory expectations.
Suggested considerations
Firms should consider performing a documented gap assessment against the review findings, including whether their conflict framework reflects the substance of UK activities rather than only formal delegation or legal arrangements.
Compliance teams may wish to refresh business-model and transaction-level conflict inventories to cover multiple funds, vintages, continuation and evergreen vehicles, affiliated businesses, shared services, capital-structure conflicts, remuneration, valuation, financing, redemptions, asset transfers and exit decisions.
Firms should consider testing whether conflict identification occurs repeatedly from origination through valuation, allocation, monitoring, restructuring and exit, rather than only at onboarding or transaction approval.
Firms may wish to define and evidence materiality thresholds, escalation triggers, accountable decision-makers and governance forums for complex or material conflicts, including when engagement with LPs or LP advisory committees is appropriate.
For cross-fund transfers and continuation transactions, firms should consider independent challenge, valuation oversight, analysis of competing investor interests, documented alternatives and evidence supporting the fairness of the outcome; investor consent or disclosure alone may not demonstrate adequate management.
Firms should consider reviewing gifts and entertainment controls beyond monetary thresholds, including purpose, recipient, frequency, patterns, inducement risk, approvals, record keeping and compliance monitoring.
Firms may wish to assess whether information barriers use physical, organisational and system controls, with monitoring and oversight of information sharing, rather than relying primarily on staff judgement and training.
Senior management and control functions should consider whether second-line compliance has sufficient independence and authority, and whether periodic internal-audit or other third-line reviews provide effective assurance and challenge.
What changed
This is supervisory guidance and a statement of FCA expectations, not a new rule or formal implementation deadline. The FCA expects firms to identify, assess, record, manage, mitigate and disclose actual, potential and perceived conflicts across the full investment lifecycle, based on the substance, scale and complexity of their UK activities rather than their formal legal structure.
Compliance impact
The impact is significant for supervisory readiness but does not create a new binding obligation or stated remediation deadline. Firms unable to demonstrate proportionate governance, independent challenge, effective escalation, fair treatment of competing investors or adequate conflict records may face intensified FCA engagement, remediation expectations and potential conduct or governance scrutiny under existing Handbook requirements.
Investments complaints 2026 H1There were 67,935 complaints about investment products, 25.2% more than in 2025 H2.Investment ISAs remained the largest complaint category in the sector.Firms received 23,763 complaints about ISAs where investments were held. Platforms had 12,874 complaints, followed by investment bonds…
Why this matters
The document is a statistics report on complaint volumes for investment products, with no new obligations or dates. It covers ISAs, platforms, investment bonds and funds, so it maps to Investment Management and Wealth & Private Banking.
The FCA has banned Jeffrey Dawkins, the former chief executive of Vector Wealth Ltd, after he dishonestly acted as a front for a disqualified director using the company to sell high-risk bonds. Mr Dawkins has also been fined nearly £270,000.In 2019, Mr Dawkins sold Vector Wealth to a disqualified director who…
AI Analysis
The FCA permanently banned Jeffrey Dawkins, former chief executive of Vector Wealth Ltd, and fined him nearly £270,000 after finding that he acted as a front for a company director disqualified for 12 years, allowing that individual to control an FCA-authorised firm and market high-risk mini-bonds. The FCA also banned former senior manager Kadir Kanizi from senior management roles and fined him £20,000, while investors are expected to lose approximately £4 million; the case reinforces that authorised status, nominal governance and investor self-certification do not cure misleading high-risk investment promotions.
Key dates
2019-01-01
In 2019, Dawkins sold Vector Wealth to a director who had previously been disqualified and who subsequently described himself as the firm's CEO; the FCA found that Dawkins falsely represented that he remained in control.
2020-09-22
Kadir Kanizi was appointed as a director of Vector Wealth.
2021-01-01
The FCA's permanent restriction on marketing speculative illiquid securities, including relevant mini-bonds and loan notes, to retail investors took effect, subject to applicable high-net-worth and sophisticated-investor exemptions.
2021-09-06
The FCA approved Kadir Kanizi for his senior management role at Vector Wealth.
2025-01-28
Vector Wealth's FCA authorisation ended.
2026-10-21
The FCA published the enforcement announcement concerning Dawkins and Kanizi.
Suggested considerations
Compliance teams may wish to review ownership, control and governance records following any acquisition or disposal, verify that the person exercising actual control is accurately disclosed to the FCA and assess whether a change-in-control notification under FSMA sections 178 to 191 was required.
Firms should consider testing that directors, controllers and senior managers meet the applicable fit-and-proper standards and that no disqualified person is exercising management or operational control indirectly or through nominee arrangements.
Firms that issue, approve or distribute mini-bond, loan-note or similar promotions should consider a product-level assessment of whether the instrument is a speculative illiquid security and whether the promotion is prohibited or qualifies for a valid exemption under the FCA rules.
Financial promotion approval processes should be reviewed to ensure that risk warnings are prominent, balanced and comprehensible, and are not undermined by claims suggesting fixed returns, simplicity, safety or FCA endorsement.
Where high-net-worth or sophisticated-investor exemptions are used, firms should consider verifying the relevant declaration and process before providing access to the promotion, rather than treating a generic self-certification as evidence that all conduct and disclosure obligations have been satisfied.
Firms should consider documenting who reviewed the promotion, the evidence supporting the target market and exemption, the underlying use of investor funds, liquidity and default risks, and the rationale for approving the communication.
Boards and senior managers may wish to review escalation, oversight and record-keeping arrangements for unregulated investment activity conducted alongside regulated business, particularly where the firm's FCA authorisation could give investors a misleading impression of product safety or compensation protection.
Firms should consider confirming that senior managers understand their individual accountability for consumer communications and risk oversight, and may wish to include high-risk investment promotions in conduct monitoring and Consumer Duty assessments where relevant.
What changed
This is a final enforcement action rather than a new rule or industry-wide implementation deadline. It applies the existing prohibition in section 21 of the Financial Services and Markets Act 2000 on unauthorised financial promotions, the FCA's financial promotion rules in COBS 4, including the restrictions applying to speculative illiquid securities, and the change-in-control notification regime under sections 178 to 191 of FSMA.
Compliance impact
The case is severe for firms involved in high-risk investment promotions because it combines individual prohibition, a fine approaching £270,000, disgorgement of proceeds and a senior-management ban with investor losses of approximately £4 million. It signals that the FCA will pursue nominal directors and approved persons where actual control, governance failures or misleading risk presentation enable an authorised firm's status to lend credibility to otherwise unregulated or highly risky investments.
We summarise feedback to our discussion paper on how our rules and regulatory framework can support a stronger investment culture for consumers. ... Read FS26/3 (PDF) ... Why we asked for feedbackThe retail investment market has changed significantly. Consumers now have access to a wider range of investments, through…
AI Analysis
The FCA published FS26/3 on 16 October 2026, summarising feedback to DP25/3 on expanding consumer access to investments while maintaining protections for higher-risk products. It introduces no immediate rules or binding firm obligations, but signals targeted work on high-risk financial promotions, mainstream-investment risk information, appropriateness assessments and model portfolio services, with material developments expected during 2027.
Key dates
2025-12-08
FCA opened DP25/3, Expanding consumer access to investments.
2026-03-06
FCA closed the DP25/3 feedback period.
2026-10-16
FCA published FS26/3, summarising feedback and setting out next steps.
Suggested considerations
Compliance teams may wish to monitor the FCA's planned review of financial-promotion rules for high-risk investments and assess whether current product classifications and promotional controls would remain defensible if similar-risk products are brought into a more consistent regime.
Firms may wish to inventory customer-facing risk information for mainstream investments and identify disclosures, digital journeys and governance processes that could require revision following the FCA's planned early-2027 consultation.
Platform operators and distributors may wish to review appropriateness-testing journeys, including customer understanding, repeat transactions, exemptions, escalation and recordkeeping, in anticipation of FCA stakeholder engagement during 2027.
Manufacturers and distributors of model portfolio services may wish to test product governance, target-market definitions, distribution strategy, cost and risk disclosures, and evidence of good consumer outcomes before the FCA publishes its multi-firm review findings in Q1 2027.
Firms may wish to review whether digital interfaces, trading-app functionality, gamification features and other friction-reducing design choices support informed decision-making and remain consistent with Consumer Duty outcomes.
Industry participants may wish to engage with the FCA's future consultations and stakeholder work, while avoiding treating FS26/3 as permission to relax existing financial-promotion, suitability, appropriateness or consumer-protection controls.
What changed
FS26/3 does not introduce new requirements, thresholds or effective dates for firms. The FCA will review whether financial-promotion rules for high-risk investments treat products with similar risks consistently; it plans to consult in early 2027 on changes to rules and guidance concerning risk information for mainstream investments; and it will review how appropriateness assessments operate in practice, including the merits of alternative models, with stakeholder engagement planned for 2027.
Compliance impact
The immediate compliance impact is limited because FS26/3 is a feedback statement rather than a policy statement containing final rules. Its significance is nevertheless broad: future changes could affect financial promotions, risk disclosures, appropriateness assessments and product-governance controls across retail investment distribution, while the FCA's model portfolio review may identify consumer-outcome deficiencies requiring remediation.
On 14 October 2026, Jarvis Investment Management Limited (Jarvis Investment) entered special administration. Adam Stephens and Philip Hemming of S&W Partners LLP were appointed as special administrators. Jarvis Investment (FRN 116413) is FCA authorised and regulated to provide wealth management services. On 16…
Why this matters
The document announces the appointment of special administrators to Jarvis Investment Management Limited and sets out client information, contact details and FSCS context. It is a corporate and organisational announcement rather than enforcement, guidance or a rule, so it is classed as news.
The FCA has conducted a major operation to disrupt a suspected organised criminal group for engaging in insider dealing and money laundering. On 13 October, 3 individuals were arrested following a joint operation by the FCA and the National Crime Agency (NCA). More than 100 FCA and NCA staff took part in searches at 5…
AI Analysis
On 2026-10-13, the FCA and National Crime Agency arrested three individuals suspected of participating in an organised insider-dealing and money-laundering group, searched five residential premises in London and Manchester, and seized more than 30 electronic devices. The operation is an enforcement signal rather than a new rule: independent reporting characterises it as part of heightened FCA scrutiny and increasingly coordinated action against sophisticated, organised market-abuse networks.
Key dates
2026-10-13
The FCA and NCA arrested three suspects, searched five residential premises in London and Manchester, and seized more than 30 mobile phones, laptops and tablets in an ongoing investigation.
Suggested considerations
Compliance teams may wish to review whether market-abuse surveillance covers relevant instruments, trading venues, employee dealing, client orders, communications and potential information-sharing networks, with risk-based scenarios for insider dealing and manipulation.
Firms should consider testing escalation procedures for suspected inside information, including preservation of communications and devices, prompt investigation, documented decision-making and submission of suspicious transaction and order reports where required.
Firms subject to UK anti-money-laundering requirements may wish to assess whether insider-dealing alerts are linked to customer due diligence, transaction monitoring, suspicious activity reporting and source-of-funds or source-of-wealth reviews.
Senior management and control functions may wish to confirm that restricted lists, wall-crossing procedures, information barriers, personal-account dealing controls, conflicts controls and staff training remain appropriate for organised or externally coordinated threats.
Firms may wish to ensure that surveillance records, alert rationales, investigation files and relevant electronic communications can be retrieved promptly if the FCA requests information or conducts an enforcement investigation.
Relevant firms should consider reminding employees and connected persons that disclosing or using inside information, recommending transactions, or encouraging others to trade can create criminal and regulatory exposure; any communication should avoid implying that the arrested individuals have been charged or found guilty.
What changed
No new obligation, rule, threshold or compliance deadline was introduced. The publication announces an ongoing criminal investigation involving arrests, searches and evidence seizures, and confirms that the FCA is using its market-abuse and financial-crime enforcement powers jointly with the NCA. The FCA reported four insider-dealing convictions in 2025/26, including two cases producing combined prison sentences of 11 years, and fines totalling £1.77 million imposed on 12 people for insider dealing, market manipulation and misleading statements.
Compliance impact
The announcement indicates high enforcement severity for insider dealing and associated money laundering, including the prospect of criminal prosecution, imprisonment, financial penalties and significant disruption to individuals and firms connected with the conduct. Although it creates no immediate new filing requirement, the scale of the operation and the FCA’s reported 2025/26 convictions signal continued intensive scrutiny of market-abuse surveillance, information controls and financial-crime escalation.
Two people who worked at financial advice firms have pleaded guilty to fraud after 4 clients lost £2m. Kerry Nelson, the director of Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited, and Jacqueline Stephens, the firms' business operations manager, admitted all charges brought by the…
Why this matters
The update reports guilty pleas to fraud by abuse of position, using a false instrument, and money laundering by individuals at two FCA-authorised advice and discretionary management firms, which caused about £2m of client losses. It is an enforcement action, so it is classed as enforcement.
The FCA has set out clearer expectations for asset managers about long-term investments, such as property. This will help give the market more confidence to invest in funds that support private markets.The new rules mean that investors will have to give 90 days' notice to access their funds but will be more certain…
AI Analysis
On 2026-10-08, the FCA consulted on CP26/35, proposing fairer redemption terms for authorised fund managers of non-UCITS retail schemes (NURS) investing in inherently illiquid assets such as property and infrastructure. The central proposal is a minimum 90-day redemption notice period, intended to reduce liquidity mismatches, disorderly asset sales and suspension risk while giving investors clearer expectations about access to their money.
Key dates
2026-10-08
FCA published the consultation announcement and CP26/35, Fair redemption terms for authorised funds investing in illiquid assets.
2026-12-11 Deadline
Deadline for feedback on the FCA consultation proposals.
Suggested considerations
Firms should identify NURS portfolios containing inherently illiquid assets and assess whether current dealing frequency, redemption terms, liquidity buffers and asset-realisation assumptions are consistent with a proposed 90-day minimum notice period.
Compliance teams may wish to compare each affected fund's prospectus, instrument constituting the fund, product governance documents, financial promotions and investor disclosures against the proposed requirement for clear access and suitability information.
Asset managers should model the effect of 90-day and longer notice periods on liquidity stress scenarios, orderly asset sales, valuation processes, dilution and the treatment of redeeming and remaining investors.
Firms should consider whether any fund requires a notice period longer than 90 days because its assets or strategy cannot support orderly realisation within that minimum period.
Managers of existing affected funds should develop a transition plan covering the two-year compliance period, including the required minimum one-year investor notice and any required investor-consent, documentation or distribution steps.
Firms should consider responding to CP26/35 by 2026-12-11, particularly on the proposed scope, definition and operational consequences of the redemption requirements.
Distributors and advisers should review whether product descriptions, target-market assessments and suitability or appropriateness communications accurately explain the proposed limited access to capital and the distinction between long-term illiquid funds and products offering quick access.
What changed
The FCA proposes that relevant NURS investors must provide at least 90 days' notice before redeeming units. Managers could set a longer notice period where the fund's assets or investment strategy require additional time to raise liquidity. Fund documentation and communications should state clearly how quickly investors can redeem and whether the fund is suitable for investors seeking rapid access to capital. Existing funds would have two years to comply, with investors receiving at least one year's notice of the change.
Compliance impact
The impact is potentially significant for affected NURS because firms may need to redesign redemption terms, fund documentation, liquidity-management processes, stress testing and investor communications. The FCA links the proposal to reduced suspension risk, fewer rushed or distressed asset sales, better protection for continuing investors and improved alignment with international liquidity standards; however, the measures remain proposals until final rules are made.
We’re consulting on changes to retail investment fund rules so that a fund’s redemption terms reflect the time it typically takes to sell illiquid assets. ... Read CP26/35 (PDF) ... Why we are consultingWe want to set clear standards for how firms design and operate their investment products and reduce the risk of…
AI Analysis
The FCA opened CP26/35 on 8 October 2026, proposing to require NURS funds predominantly invested in inherently illiquid assets to use redemption terms aligned with the time needed to sell those assets. The central proposal is a minimum 90-day redemption notice period, together with no more frequent than monthly redemption determinations, reflecting the existing LTAF framework and intended to reduce rushed asset sales, liquidity mismatches and potential investor harm.
Key dates
2026-10-08
FCA consultation CP26/35 opened and was first published.
2026-12-11 Deadline
Deadline for responses to the FCA consultation.
Suggested considerations
AFMs may wish to identify NURS funds with at least 50% exposure to inherently illiquid assets and compare their current dealing frequency, redemption notice periods and liquidity profile with the proposed monthly and 90-day minimum terms.
AFMs may wish to assess whether fund constitutional documents, prospectuses, application forms, investor communications and distribution agreements would need amendment if the proposals are adopted.
AFMs may wish to review liquidity risk-management frameworks, asset-sale assumptions, valuation processes, cash-flow stress testing and governance arrangements for consistency between investment strategy, liquidity profile and redemption policy.
Compliance teams may wish to assess the effect on the FIIA regime, suspension and deferred-redemption tools, depositary oversight and escalation procedures for liquidity mismatches.
Distributors, platforms, advisers, SIPP operators and unit-linked product providers may wish to assess how longer notice periods and less frequent dealing would be displayed, explained and operationally administered for retail customers.
Affected firms may wish to submit responses to the FCA by 11 December 2026, focusing on implementation feasibility, customer communications, operational dependencies and the treatment of indirect investors.
Firms may wish to monitor the FCA's expected final rules in H1 2027 and avoid treating the consultation proposals as currently binding requirements.
What changed
This is a consultation rather than a binding rule change. For NURS funds with at least 50% of scheme property invested in inherently illiquid assets and offering regular liquidity, the FCA proposes minimum redemption terms aligned with LTAF requirements: redemption determinations no more frequently than once a month and a notice period of at least 90 days after acceptance of a redemption request. The FCA also proposes allowing other NURS fund managers to introduce comparable limited redemption arrangements voluntarily, subject to related rule and disclosure changes.
Compliance impact
The proposals could require material changes to product design, prospectus disclosures, dealing and transfer-agent processes, liquidity governance and distribution communications for affected NURS funds. Although not yet binding, the FCA's proposed 90-day notice period and monthly dealing limit signal a significant supervisory expectation that redemption terms must match the liquidity of underlying private-market and real-estate assets; failure to manage that alignment could increase the risk of investor harm, rushed sales, dilution or fund suspension.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA warning identifies flowwealth.us as an unauthorised firm operating without permission in the UK. While the content addresses authorisation and consumer protection, it is a standard clone-firm alert rather than a binding obligation, policy statement, or enforcement precedent affecting multiple firms.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA has issued a standard warning against an unauthorised firm (Wealth Growth / WealthGrowth) operating from Switzerland and Spain while targeting UK consumers.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The update is a standard FCA Warning List entry for an unauthorised firm impersonating a legitimate entity. While the warning itself carries urgency for consumers who may encounter this firm, it is administrative in nature and does not establish new obligations, policy, or enforcement precedent affecting the broader...
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The content is a standard FCA warning notice against an unauthorised firm (wealthiumglobal.com). It provides consumer protection guidance and directs users to check authorisation status via FCA Firm Checker.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The update is a clone-firm warning issued by the FCA identifying my.sterlingreservewealth.info as an unauthorised entity operating without FCA permission. While the content addresses authorisation and consumer protection (lack of FSCS/ombudsman coverage), the warning targets a single fraudulent entity rather than...
On 24 September 2026, IMFP and IMA entered administration. Robert Goodhew and Geoff Bouchier of Kroll Advisory Limited were appointed joint administrators for both firms. The joint administrators are responsible for managing the affairs of the firms during the administration process. They are officers of the court and…
Why this matters
This is an FCA news announcement regarding the administration of a specific authorised firm (IMFP) and its appointed representative (IMA). The content is primarily informational—providing contact details for joint administrators, explaining customer protections (FSCS coverage, asset segregation), and guidance on...
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
This is an FCA Warning List entry for an unauthorised firm (algro-wealth.com) operating without permission. The content is templated guidance on unauthorised firms, their risks, and consumer protections.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA warning identifies longwealthsglobe.com as an unauthorised firm operating without permission and potentially targeting UK consumers. While the content addresses authorisation and consumer protection, it is a standard clone-firm alert rather than a policy change, enforcement precedent, or binding obligation...
CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised…
Why this matters
The FCA warning identifies a fraudulent clone of Blue Horizon Asset Management Limited (FRN 570942), an authorised asset manager. The content is administrative in nature—a standard scam alert—but warrants high urgency because it alerts consumers to an active fraud scheme impersonating a regulated firm.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA warning identifies Vortex Wealth Brokers as an unauthorised firm operating without permission in the UK. The content is factual and informational, alerting consumers to avoid the firm and explaining the lack of Ombudsman and FSCS protections.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA has issued a standard warning against an unauthorised firm (HUOWEALTH) operating without permission. The content is informational and protective in nature, alerting consumers to avoid the firm and explaining the lack of FSCS/ombudsman coverage.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
This is a standard FCA unauthorised firm warning targeting Hale Wealthwick, a wealth management entity operating without permission. The content is primarily consumer-protective guidance advising avoidance of the firm and directing users to verify authorisation via FCA Firm Checker.
The FCA has decided to ban Daniel Thomas from working in financial services and fine him £742,700 after finding he recklessly gave defined benefit pension transfer advice he was neither qualified nor allowed to give.
Why this matters
This is a final enforcement decision (Decision Notice) imposing a ban and £742,700 fine on an individual adviser for recklessly providing unqualified pension transfer advice to 53 clients over 5 years, including vulnerable British Steel Pension Scheme members.
Thousands of young adults could be sitting on a forgotten pot of savings as they head back to college and university. As students return to college and university this month, the FCA is urging young adults and parents to check whether they have a forgotten Child Trust Fund waiting to be claimed – potentially worth…
Why this matters
The FCA alert addresses consumer protection concerns around Child Trust Fund claims management fees and unregulated intermediaries, coupled with an announced review examining fair value under Consumer Duty and barriers for vulnerable young adults.
Four in 5 less experienced investors have used AI for help with investing – and around two-thirds report doing so occasionally or regularly. New research focused on 18- to 40-year-olds who own or are considering investments showed that 56% trust AI tools, more than TV and radio (47%), press (46%) or social media…
AI Analysis
The FCA published research on 2026-08-27 showing that 56% of surveyed UK investors aged 18 to 40 trust AI tools for investment-related information, while 44% incorrectly believe AI-generated financial information is regulated. The publication does not introduce new rules or deadlines, but it signals heightened FCA concern about consumer misunderstanding, the boundary between general-purpose chatbots and regulated financial advice, and the absence of FSCS or Financial Ombudsman Service protection for unregulated AI outputs.
Key dates
2026-07-24
The FCA conducted the Attest quantitative survey of 666 UK adults aged 18 to 40 who owned investments or were considering buying investments within 12 months.
2026-08-27
The FCA published the press release and research findings on young investors' trust in AI.
Suggested considerations
Compliance teams may wish to map all AI use cases across investment research, recommendations, suitability, appropriateness assessments, client communications, and financial promotions, distinguishing general-purpose tools from systems specifically configured to provide financial advice.
Firms should consider assessing whether any AI-generated output amounts to a personal recommendation, regulated advice, or a financial promotion under the Financial Services and Markets Act 2000 and the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, rather than relying on the technology's general-purpose label.
Firms using AI in regulated activities should consider applying the same suitability, appropriateness, customer understanding, disclosure, record-keeping, oversight, and accountability standards that apply to equivalent human-led processes.
Customer-facing communications may warrant clear explanation that general-purpose chatbot outputs are not FCA-regulated advice and do not themselves create entitlement to FSCS compensation or access to the Financial Ombudsman Service.
Compliance teams may wish to test AI outputs for hallucinations, stale or unsupported sources, misleading performance claims, inappropriate personalisation, bias, and inadequate risk warnings, with escalation and human-review controls for higher-risk outputs.
Firms should consider reviewing whether AI-generated content used in promotions complies with the FCA financial promotion restriction in section 21 of the Financial Services and Markets Act 2000 and applicable FCA financial-promotion rules.
Governance reviews may include vendor due diligence, approved-use restrictions, audit trails, model-change monitoring, incident reporting, staff training, and controls preventing customers or staff from treating AI output as a substitute for regulated advice.
Firms may wish to monitor the FCA's expected late-2026 publication on good and poor AI practice and any subsequent FCA, HM Treasury, or industry measures addressing advice-like outputs from general-purpose AI.
What changed
No binding regulatory requirement, rule, prohibition, or implementation deadline was introduced. The FCA clarified its current supervisory position that general-purpose AI chatbots are not regulated by the FCA where they respond to varied prompts and are not specifically established to provide financial advice, research, or decision-making support. By contrast, an AI tool specifically deployed to provide financial advice would be likely to fall within the FCA's remit and could engage the existing UK regulatory framework for regulated advice and financial promotions.
Compliance impact
The immediate impact is supervisory and conduct-related rather than a new legal obligation: firms should expect greater scrutiny of AI-enabled advice, investment communications, consumer understanding, and the distinction between regulated and unregulated services. Poor controls could contribute to unsuitable recommendations, misleading financial promotions, consumer harm, complaints, enforcement under existing FCA rules, and disputes in circumstances where FSCS or Financial Ombudsman Service protection does not apply.
The FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have…
AI Analysis
The FCA has prohibited three former senior figures at Dolfin Financial (UK) Limited after finding that they operated a scheme which enabled at least 99 people to obtain Tier 1 investor visas while contributing about £400,000 rather than the required £2 million investment. Denisz Nagy and Sanjay Maraj accepted fines of £324,800 and £122,000 respectively, while Roman Joukovski’s prohibition remains provisional because he has referred the Decision Notice to the Upper Tribunal. The enforcement action highlights the FCA’s willingness to treat dishonesty, concealment from regulators and immigration-related misconduct as evidence of a lack of integrity and fitness and propriety, with potential consequences extending beyond conventional financial-services conduct.
Key dates
2016-01-01
The period began during which the FCA found that the investor-visa scheme operated; the exact start date is not specified in the publication.
2019-01-01
The period ended during which the FCA found that the scheme operated; the exact end date is not specified in the publication.
2021-03-12
The FCA imposed restrictions preventing Dolfin from carrying on regulated activities, following concerns including its operation of the investor-visa funding scheme.
2021-06-01
Dolfin entered special administration; the exact date in June is not specified in the publication.
2022-02-17
The Home Office closed the Tier 1 investor visa route of entry to the UK.
2026-08-26
The FCA published the enforcement announcement concerning the bans, fines and Joukovski Decision Notice.
Suggested considerations
Compliance teams may wish to review whether any product or client arrangement could create a misleading impression that a regulatory, immigration or other statutory investment threshold has been met when the client’s own qualifying capital is materially lower.
Firms should consider testing the end-to-end governance of immigration-linked investment business, including approval of the business model, ownership and control disclosures, conflicts management, introducer due diligence, fee flows and oversight of connected or offshore entities.
Firms may wish to reassess source-of-funds and source-of-wealth controls where client investments are supported by loans, circular funding, guarantees or funds provided by affiliated entities, and document why the resulting structure is consistent with the relevant immigration and financial-services requirements.
Senior managers and boards should consider whether regulatory submissions, notifications and attestations fully disclose shadow directorships, controllers, beneficial ownership, related-party involvement and the true commercial purpose of client arrangements.
Firms should consider conducting targeted reviews of historical investor-visa or residence-by-investment clients, including communications and files supplied to regulators or other public authorities, and escalating any potentially misleading statement or omission through the appropriate remediation and notification processes.
Training and surveillance may be reviewed to ensure staff understand that conduct outside the core regulated service, including assistance with immigration-rule circumvention, can affect the firm’s and individuals’ integrity, fitness and propriety.
Where third-party immigration agents or introducers are used, firms may wish to assess their incentives, remuneration, representations to clients, due-diligence records and ongoing monitoring, particularly where fees are unusually high or linked to visa approval.
What changed
This is a final enforcement outcome for Nagy and Maraj, not a new generally applicable rule or supervisory requirement. Both were prohibited from performing any function in relation to regulated activities; Nagy’s discounted penalty was £324,800, compared with an undiscounted £464,000, and Maraj’s discounted penalty was £122,000, compared with an undiscounted £174,300. Joukovski was issued a Decision Notice proposing a prohibition order, but the proposed action has no effect pending the Upper Tribunal’s determination.
Compliance impact
The action is severe for the individuals involved: two received industry-wide prohibitions and substantial personal fines, while the third faces a prohibition that remains subject to Tribunal proceedings. Although it does not create new obligations for all firms, it is a strong enforcement signal that deliberate circumvention of another authority’s rules, misleading communications, undisclosed control and weak oversight of high-risk business can support findings that individuals lack integrity and are not fit and proper, and can contribute to firm-wide restrictions or failure.
On 24 August 2026, EGR Wealth Limited (EGR Wealth) entered administration. Robert Goodhew and Geoff Bouchier of Kroll Advisory Limited were appointed joint administrators. The joint administrators are responsible for managing the affairs of the firm during the administration process. They are officers of the court and…
Why this matters
This is an FCA news announcement of EGR Wealth Limited's entry into administration. It provides factual information about the appointment of joint administrators, contact details, and consumer guidance on complaints, FSCS coverage, and asset protection.
These high-risk investments should not usually be advertised widely to the public. We banned the marketing of speculative mini-bonds and loan notes to ordinary retail investors from 1 January 2021.We did this because these are complicated investments, not suitable for most people. The ban means these high-risk…
AI Analysis
The FCA published an enforcement-oriented consumer warning on 19 August 2026, updated 20 August 2026, highlighting continued retail marketing of unregulated loan notes and mini-bonds through exemptions and unauthorised intermediaries. It does not introduce a new rule, but reinforces that the permanent prohibition on mass-marketing speculative illiquid securities to ordinary retail investors has applied since 1 January 2021 and that investors may lack Financial Ombudsman Service and Financial Services Compensation Scheme protection.
Key dates
2020-01-01
The FCA's temporary product intervention restricting mass-marketing of speculative illiquid securities to retail investors took effect.
2020-12-10
The FCA published PS20/15, confirming permanent rules for marketing speculative illiquid securities, including speculative mini-bonds, to retail investors.
2021-01-01
The permanent FCA restrictions on mass-marketing speculative illiquid securities to ordinary retail investors came into force.
2026-08-19
The FCA published the consumer warning following continuing losses and concerns about unregulated loan notes and mini-bonds, including the collapse of Woodville Consultants Limited.
2026-08-20
The FCA page was updated; the publication continues to operate as a warning and supervisory or enforcement signal rather than a new rule.
Suggested considerations
Compliance teams may wish to inventory all loan notes, mini-bonds, debentures, preference shares, and comparable securities promoted, approved, advised on, arranged, or distributed by the firm.
Firms should consider testing each product against the FCA definition of a speculative illiquid security, including the denomination threshold of less than £100,000, the use of proceeds, transferability, listing, and the applicable exemptions.
Authorised firms should consider blocking mass-market communications, including websites, social-media advertising, broad email campaigns, affiliate content, and introducer activity, where the promotion is likely to reach ordinary retail clients.
Where an exemption is relied on, firms should consider evidencing investor eligibility, the basis for any high-net-worth or sophisticated-investor status, the timing and validity of the investor declaration, and controls preventing onward dissemination to ineligible persons.
Firms approving or communicating relevant promotions should consider verifying that required risk warnings, loss-of-capital disclosures, liquidity and default information, and third-party fee or commission disclosures are accurate, prominent, and consistent across all distribution channels.
Due diligence should consider whether claims such as asset-backed, secured, FCA-authorised security trustee, listed, or fixed return accurately describe the legal and economic position of investors.
Compliance teams may wish to review introducer agreements, commission arrangements, marketing costs, investor-money flows, and the proportion of subscriptions actually applied to the underlying investment.
Firms should consider checking that communications do not use artificial deadlines, pressure tactics, unrealistic return comparisons, or performance claims unsupported by a credible explanation of repayment capacity.
What changed
No new binding requirement or prohibition was introduced by this publication. The FCA restated that its permanent rules prohibit authorised firms from approving or communicating financial promotions for speculative illiquid securities in a manner likely to be received by retail clients, subject to defined exemptions.
Compliance impact
The immediate legal impact is limited because the publication restates existing requirements, but the supervisory and enforcement signal is material: the FCA is scrutinising authorised firms, approvers, introducers, and distribution channels that may allow prohibited retail reach or misleading credibility cues. Breaches may expose authorised firms to FCA intervention, financial-promotion remediation, supervisory investigation, and potential enforcement, while investors using unauthorised firms may lose some or all capital without access to the Financial Ombudsman Service or FSCS.
The FCA has banned Demetrios Hadjigeorgiou from working in senior management positions in financial services and fined him £56,400. Mr Hadjigeorgiou was the former director and chief executive officer (CEO) of SVS Securities Plc (SVS), a discretionary fund manager.The FCA found that Mr Hadjigeorgiou failed to properly…
AI Analysis
The FCA fined Demetrios Hadjigeorgiou £56,400 and prohibited him from performing senior management functions in financial services after finding that, as SVS Securities Plc’s CEO, he failed to exercise due skill, care and diligence and failed to protect customers’ interests. The case matters because independent legal and industry commentary characterises the SVS model as involving systematic conflicts, high-risk and illiquid bond exposure for pension customers, and a 10% value reduction that generated £359,800 for SVS without clear customer disclosure.
Key dates
2018-05-01
Demetrios Hadjigeorgiou became CEO of SVS Securities Plc.
2019-08-02
The FCA required SVS to cease regulated activities, safeguard assets and notify affected third parties.
2019-08-05
SVS Securities Plc entered special administration.
2023-08-10
SVS Securities Plc was dissolved.
2024-04-25
The FCA issued its initial Decision Notice proposing an £84,600 penalty and prohibition order against Mr Hadjigeorgiou.
2026-08-19
The FCA published the settled enforcement outcome: a £56,400 fine and prohibition from senior management positions in financial services.
Suggested considerations
Compliance teams may wish to review whether senior managers have documented challenge and escalation responsibilities for investments involving issuer payments, commissions, related parties or other conflicts of interest.
Firms should consider testing whether investment due diligence appropriately assesses product risk, liquidity, valuation methodology, concentration and suitability for pension and retail customers.
Firms should consider reconciling all fees, commissions, retained spreads and exit-value adjustments against customer disclosures, ensuring that any reduction in redemption or sale value is prominent, timely and understandable.
Boards and senior managers may wish to evidence periodic review of model portfolios against customers’ stated objectives, risk appetite, liquidity needs and pension-transfer circumstances.
Compliance teams may wish to assess whether management information would have identified customer detriment, unusually high issuer-related income or investment decisions that prioritised firm revenue over customer interests.
Firms should consider retaining clear records showing how conflicts were identified, mitigated, disclosed and challenged, including the rationale for approving high-risk or illiquid products for retail and pension-related portfolios.
Authorised firms may wish to review the FCA’s SVS enforcement materials alongside their own senior-manager accountability maps and Statements of Responsibilities, while recognising that this case does not itself create a new universal obligation.
What changed
This is a concluded enforcement action against an individual, not a new general rule or threshold applicable to firms. The FCA imposed a financial penalty under section 66 of the Financial Services and Markets Act 2000 and a prohibition order under section 56 of that Act, following settlement and withdrawal of the Upper Tribunal referral. The FCA found a breach of Statement of Principle 6, requiring an approved person to exercise due skill, care and diligence in managing the business of the firm.
Compliance impact
The action demonstrates significant personal exposure for senior managers where governance failures contribute to conflicted investment activity and undisclosed customer detriment, even though the firm itself has subsequently entered administration and been dissolved. The FCA’s findings, reinforced by independent commentary from Sidley, Citywire and industry reporting, indicate that pension and retail investment businesses should treat issuer remuneration, illiquidity, valuation and disclosure controls as senior-management accountability issues rather than purely operational matters.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The update is a standard FCA warning against an unauthorised financial services firm (Warven Wealthvale). It contains no new rules, guidance, or enforcement precedent.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA has issued a standard warning against an unauthorised financial services firm operating without permission. The content is informational and protective in nature, alerting consumers to avoid dealing with Asset Avenue Advisors LLC and explaining the lack of regulatory protections (ombudsman access, FSCS...
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The FCA warning identifies TRUSTS ASSET MANAGEMENT as an unauthorised firm operating without permission. The content is administrative in nature (a clone-firm alert) but carries high urgency because it alerts consumers to an active scam targeting the UK market.
The Upper Tribunal upheld the FCA's decision to ban Richard Fenech and Heather Dunne from working in financial services. The Tribunal agreed that both acted dishonestly by providing a backdated appointed representative agreement to the FCA.The Tribunal found that Ms Dunne falsely claimed she had given advice to some…
Victims of convicted fraudster John Burford are set to recover the majority of the money they invested after the FCA obtained a confiscation order against him. In September 2025 Mr Burford, 86, was sentenced to 2 years in prison for defrauding over 100 investors out of £1m.He offered trade alerts and investment…
The Consumer Duty was designed to ensure firms were focussed on the outcomes that matter to their customers. Understanding the actual experiences of people and identifying potential harm are essential to delivering these improvements. So outcomes monitoring is at the heart of helping consumers to better navigate their…
AI Analysis
Key dates
31 July 2023
- Consumer Duty came into force for open products and services and firms were expected to have outcomes monitoring capability in place from day one
31 July 2024 Deadline
- The final Consumer Duty implementation deadline applied to all in-scope financial services firms
2025
- The FCA reviewed firms’ approaches to outcomes monitoring over the past year and published its findings in this blog and related review material
TBD (ongoing)
- Firms are expected to continue regular monitoring, testing, and evidence-gathering on an ongoing basis under PRIN 2A.9
Suggested considerations
Firms must establish and maintain a documented outcomes monitoring framework that defines good and poor customer outcomes for each relevant product or service.
Firms must map metrics to the full customer journey, including product design, communications, customer support, and distribution arrangements.
Firms must collect MI that can identify poor or potentially poor outcomes, root causes, and emerging risks before harm crystallises.
Firms must document the rationale for each metric, threshold, and tolerance, including why those measures are appropriate for the customer population and product.
Firms must maintain a clear audit trail linking MI, governance review, decisions, remediation, and outcome improvement testing.
What changed
- The FCA expects firms to regularly assess, test, understand, and evidence the outcomes retail customers are receiving under the Consumer Duty.
Firms should use monitoring to identify whether any group of retail customers is experiencing different outcomes from another group for the same product and understand why those differences exist.
Monitoring frameworks should define what good outcomes look like in practice and translate those outcomes into measurable indicators tied to the customer journey.
Firms should not rely on broad or high-level MI alone; they must use information to challenge performance, identify risks, and drive improvements.
Firms should be able to explain why metrics and tolerances were chosen and whether any actions taken have been tested and shown to reduce harm or friction.
Compliance impact
The FCA’s expectation is operationally significant: firms that cannot evidence outcomes monitoring, root-cause analysis, and effective remediation risk being treated as non-compliant with the Consumer Duty and exposed to supervisory escalation. Where poor outcomes persist, firms may face FCA intervention, remediation requirements, and potential enforcement action if consumer harm is serious or systemic.
The PRA’s CP10/26 proposes to delete the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part of the PRA Rulebook and make consequential amendments, effectively shifting continuity‑of‑services expectations for ring‑fenced bodies onto the broader operational continuity / resolution framework. For compliance teams, this is a material rationalisation of overlapping rule sets that will require careful mapping of existing ring‑fencing service‑continuity controls into the PRA’s operational continuity and resilience expectations, and engagement with the consultation by the response deadline.
Key dates
14 October 2026 Deadline
- Deadline for submitting responses to PRA Consultation Paper CP10/26 on the deletion of the Continuity of Provision of Services Chapter and related changes to the Ring‑fenced Bodies Part
Suggested considerations
Assess the current use of the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part within your firm’s ring‑fencing policies, procedures, contracts and governance, and identify all controls that explicitly rely on those rules.
Prepare and submit a considered response to CP10/26 by 14 October 2026, addressing the practical impact of deleting the Continuity of Provision of Services Chapter, any residual areas of concern, and suggestions for guidance or transitional arrangements.
Coordinate with group entities acting as permitted suppliers or critical service providers to ensure their OCIR documentation, service catalogues, TSAs and liquidity arrangements remain aligned with the ring‑fenced body’s continuity requirements in the absence of the deleted chapter.
Monitor for the subsequent PRA policy statement that will follow CP10/26, and be prepared to implement any final rule changes, transitional provisions or clarifications on how ring‑fencing continuity expectations intersect with OCIR and operational resilience regimes.
What changed
- The PRA proposes to delete in full the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part of the PRA Rulebook, removing the specific ring‑fencing continuity‑of‑services...
The PRA will make consequential amendments to the Ring‑fenced Bodies Part to remove or adjust cross‑references, defined terms and obligations that are linked to the deleted Continuity of Provision of...
The proposal effectively retires the bespoke continuity‑of‑services construct that was introduced when ring‑fencing was implemented (including detailed constraints on termination, suspension or...
The consultation paper explains how the PRA intends to align ring‑fenced bodies’ continuity‑of‑services expectations with existing supervisory statements on operational continuity in resolution (for...
The PRA invites stakeholders to comment on whether deleting the Continuity of Provision of Services Chapter, and relying on the broader operational continuity regime, still adequately protects the...
Compliance impact
Non‑compliance would primarily manifest as weaknesses in the continuity of core services and intra‑group service arrangements rather than direct breaches of the deleted rules, potentially leading to PRA supervisory findings, remediation requirements and heightened capital or resolvability expectations. Failure to realign ring‑fencing continuity controls with the PRA’s operational continuity and resilience framework could also impact resolvability assessments and increase the risk of adverse supervisory interventions in stress or resolution.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
This is a standard FCA Warning List entry for an unauthorised firm (MA-Management / Mercer Advisor Management) operating without permission. The content emphasizes consumer protection (lack of FSCS/ombudsman coverage) and directs users to verify authorisation via FCA Firm Checker.
The FCA is proposing to simplify how platforms, advisers and wealth managers communicate the costs of investing while reminding firms to communicate with consumers about investing in plain English. The move will bring all investment cost disclosures into line with previous investment product disclosure reforms and…
Why this matters
FCA consultation on simplifying investment cost disclosure rules affecting platforms, advisers and wealth managers. Focuses on consumer protection through clearer plain English communications and standardized cost presentation under new CCI framework. Consultation deadline 21 August with implementation from June 2027.
When the FCA introduced the Consumer Duty, we set out to do something simple but transformative: ensure financial services work better for consumers. It was, by design, ambitious. And it is working. For example, most investment platforms have improved how they treat interest on clients’ cash and public confidence in…
AI Analysis
The FCA has announced a consultation to *refine the Consumer Duty* so that wholesale and largely business‑to‑business activities sit more clearly outside scope, while keeping the regime focused on retail consumer outcomes. This matters for compliance teams because it will reshape how the Duty applies to activities such as market making, custody, cross‑border business and multi‑party distribution chains, and will allow wholesale‑focused firms to recalibrate their frameworks, governance and monitoring obligations.
Key dates
31 July 2022
- FCA expected to make the original Consumer Duty rules following CP21/13, establishing the baseline regime and Principle 12
31 July 2023
- Consumer Duty comes into force for open (non‑closed‑book) products and services, triggering initial implementation across retail distribution chains
First half of 2026
- FCA planned consultation on revisions to the Consumer Duty scope and exemptions, including clearer delineation of business‑to‑business activity, reliance arrangements in distribution chains and removal of non‑UK customers from scope
Late 2026 (TBD)
- FCA to consult on further changes to client classification, sharpening the distinction between retail and professional markets and clarifying the treatment of sophisticated investors under the Consumer Duty
June 2026 (indicative)
- FCA expected to issue a consultation paper on Duty scope, proportionality and application to wholesale‑only and early‑chain firms, including potential changes to definitions and categorisation of manufacturers versus supporting firms
Suggested considerations
Map all business lines and activities to identify which are genuinely wholesale, early‑chain or business‑to‑business, and assess where the firm does or does not “shape consumer outcomes” at the end of the chain.
Review existing Consumer Duty scoping decisions for activities such as market making, custody, safeguarding and other wholesale services, and prepare to adjust those decisions in line with FCA case studies and clarified boundaries.
Re‑evaluate cross‑border business conducted for non‑UK clients to determine which products and services may fall outside the Consumer Duty under the proposed narrowed territorial scope, and document the basis for this classification.
Analyse multi‑party distribution chains and co‑manufacturing arrangements to clearly delineate responsibilities, reliance points and escalation mechanisms where other firms are expected to meet their Consumer Duty obligations.
Update product governance and Consumer Duty frameworks to distinguish between “manufacturers” and supporting firms, ensuring manufacturers continue to meet full Duty requirements while supporting firms apply Principle 12 and cross‑cutting rules proportionately.
What changed
- The FCA is consulting on clearer scope boundaries for the Consumer Duty to confirm that wholesale, business‑to‑business activities that do not shape retail consumer outcomes should normally be out...
The FCA will provide case studies and examples of “grey areas” to illustrate when activities are, and are not, caught by the Duty, particularly for early‑chain and wholesale‑only firms.
The FCA is clarifying accountability in multi‑firm arrangements, confirming that each firm is responsible for its own activities, can rely on other firms to meet their obligations where appropriate,...
The FCA plans to reduce duplication of obligations across distribution chains, including refining how the “look‑through” concept and co‑manufacturing apply where firms do not directly interact with...
The FCA is narrowing the territorial scope of the Consumer Duty so that business conducted for genuinely non‑UK customers will generally be out of scope, aligning with the principle that local...
Compliance impact
Non‑compliance will remain serious for activities that truly affect retail consumer outcomes, with potential for enforcement action, redress requirements, supervisory scrutiny and reputational damage. However, for wholesale‑only and non‑UK business, firms that fail to realign their frameworks with the FCA’s refined scope may incur unnecessary compliance cost, competitive disadvantages and mis‑scoped regulatory risk.
CACEIS UK, an asset servicing bank, has been censured by the FCA and will make a £31.7m voluntary payment to WealthTek clients for failing to act on information that left clients exposed to the risk of financial crime. The FCA has now secured over £57m in total for WealthTek clients in just over a year, with action…
Why this matters
FCA enforcement action against CACEIS UK for weak financial crime controls and failure to monitor WealthTek client accounts. Involves asset servicing/custody failures, AML/KYC deficiencies, and consumer protection breaches. Informational regulatory update on completed enforcement case with voluntary settlement.
The FCA has set out plans to drive greater consistency of standards in self-invested pensions (SIPPs), while maintaining the flexibility and broad investment choice they offer. Most SIPP providers are already doing the right thing and providing a good service to their customers. However, the FCA has historically found…
The FCAhasstartedcivil proceedings against Mr Neil Woodford andW4.0.The FCAallegesthat Mr Woodford and W4.0 are providing regulated investment advice and making financial promotions through the subscription-based platform, www.w4pz.com, without authorisation.In the FCA’sview, the activitybreachessections 19 and 21 of…
AI Analysis
The FCA has commenced civil proceedings against Neil Woodford and W4.0 (W Four Point Zero FZE LLC, UAE‑registered), alleging they provided regulated investment advice and made financial promotions to UK consumers via subscription platform www.w4pz.com without FCA authorisation, in breach of sections 19 and 21 FSMA 2000. The case underscores that overseas structures, subscription “community” models, and model‑portfolio or strategy platforms aimed at UK users will be treated as carrying on UK‑regulated activities and financial promotions if they effectively target or advise UK investors.
Suggested considerations
Conduct an immediate perimeter review of all digital, subscription‑based, model‑portfolio, and strategy‑distribution offerings to determine whether they constitute regulated investment advice or arranging, requiring FCA permission.
Review all online content, marketing materials, newsletters, videos, and “community” communications to identify any that could amount to a financial promotion to UK consumers and ensure they are issued or approved by an authorised firm under section 21 FSMA, or fall clearly within an exemption.
Update internal policies and product‑governance frameworks for research, commentary, and model portfolios so that any service intended to be implemented by clients is classified and treated as a regulated activity where relevant.
For groups using non‑UK entities to host platforms or provide content, perform a jurisdictional analysis and document how UK‑facing activities are controlled, authorised, or carved out to avoid a breach of FSMA sections 19 and 21.
Implement or strengthen pre‑clearance procedures for senior individuals (particularly previously sanctioned or restricted persons) seeking to launch new client‑facing propositions, ensuring that any new business line is assessed for authorisation and promotion requirements before launch.
What changed
- The FCA has publicly confirmed that providing model portfolios, strategies or investment recommendations via a subscription website can constitute regulated investment advice and financial...
The FCA is treating digital “community platforms” and strategy‑copying services as potentially regulated activities, not merely education or general commentary, where users are expected to implement...
The FCA has explicitly framed such activity as breaching the general prohibition in section 19 FSMA (carrying on a regulated activity in the UK without authorisation or exemption) when done without...
The FCA has explicitly framed such online communications as breaching the financial promotion restriction in section 21 FSMA where no authorised firm approves or issues the promotions.
The regulator has commenced civil proceedings and is actively seeking an injunction from the court to force the immediate cessation of the allegedly unlawful advice and promotion activities.
Compliance impact
Non‑compliance exposes firms and individuals to civil proceedings, injunctive relief, financial penalties, and potentially prohibition orders, alongside significant reputational damage. The case demonstrates the FCA’s willingness to litigate perimeter breaches for digital and overseas platforms, making this a high‑risk area for firms operating at or near the border of regulated advice and promotions.
The FCA has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh. Mr Pugh, 36, is serving a 7 years and 6 months prison sentence for defrauding investors out of £1.3m.Run from his bedroom in Devon, Pugh used Facebook adverts to target investors and promised them wholly unrealistic…
In its 19 May 2026 judgment, the High Court approved pro rata distribution to eligible investors of money recovered by the FCA from Argento Wealth Limited (AWL). Eligible investors must act by 1 August 2026. You can receive a share of the money recovered if you:Invested in the AWL Loan Scheme; orInvested in the EMB…
Why this matters
FCA announcement regarding court-approved distribution of recovered funds from unauthorized Argento Wealth Limited to eligible investors. This is informational content with a specific deadline (1 August 2026) for investor action.
The FCA is reviewing how consumer investment firms support bereaved customers and whether they're getting it right. Fewer than half of bereaved customers (47%) felt they received the support they needed from financial firms, according to research (PDF).What the FCA is looking atThe review will focus on firms that…
The FCA has banned Frank Breuer from working in UK financial services and fined him £755,000 for repeatedly acting without integrity and putting customers at risk for personal financial gain. Mr Breuer was the joint owner and sole director of Bluesky Wealth Management Limited (Bluesky), which provided advice on…
On 6 May 2026, Kanda Products and Services Ltd (Kanda) entered liquidation. Philip Harris and Neville Side of FRP Advisory Trading Limited have been appointed as Joint Liquidators. Kanda is authorised by the FCA as a credit broker. It operated a network of around 700 introducer appointed representatives, mainly…
On 28 April 2026, LCM Family Limited (LCM) went into administration. Louise Longley and Gary Shankland of BTG Begbies Traynor (Central) LLP were appointed as joint administrators of the firm. The joint administrators are responsible for managing the affairs of the firm during the administration process.LCM (previously…
We have published findings from our Financial Adviser Survey. The findings provide an updated picture of how the UK financial advice market is evolving and what this means for firms, consumers and future growth. The survey brings together responses from more than 4,100 financial advice firms; alongside analysis of…
The FCA is looking for expressions of interest from market participants to join our advisory committee. The committee was established in 2022, and we are renewing the membership in line with our terms of reference.The purpose of the committee is to support our work in wholesale secondary markets for equities…
Help shape financial regulation from the perspective of consumers. We are recruiting 2 new members to the Financial Services Consumer Panel, an independent statutory panel that represents the interests of consumers of financial services to the FCA.Panel members provide constructive challenge and expert advice to help…
Why this matters
This regulatory update is informational in nature, announcing vacancies on the Financial Services Consumer Panel which represents consumer interests to the FCA. It is relevant to a wide range of financial services firms, particularly those focused on retail consumers such as banks, wealth managers, and asset managers.
On 16 April 2026, HDH Investment Services Limited (HDH), which advised on and arranged deals in investments, entered Creditors’ Voluntary Liquidation (CVL). Dina Devalia and Tom Parish of Quantuma Advisory Limited (Quantuma) have been appointed as joint liquidators.On 20 January 2026, HDH agreed to stop carrying out…
Why this matters
This regulatory update from the FCA announces that HDH Investment Services Limited, an investment advisory firm, has entered into creditors' voluntary liquidation.
This regulatory update from the Bank of England covers decisions made by the Banknote Imagery Advisory Group regarding the theme and sub-theme for the next series of UK banknotes. This is relevant for banks, wealth managers, and asset managers who handle and process banknotes.
This regulatory update from the Bank of England relates to the imagery and design of banknotes, which is relevant for banks, wealth managers, and asset managers that handle cash and banknotes.
Under the Consumer Duty, firms must report annually on what their monitoring found about customer outcomes, and what actions they’ll take as a result.Good Consumer Duty Board reports provide clear evidence about outcomes – helping to turn governance into real change. Boards can ask better questions, hold people to…
Why this matters
This regulatory update from the FCA focuses on the Consumer Duty, which applies across the banking, investment, and wealth management sectors. It discusses progress on firms' annual reporting requirements under the Duty, including improvements in governance, action plans, and data analysis.
The FCA has set out plans to take action against Hartley Pensions Limited and an individual involved at the firm. Hartley was a Self-Invested Personal Pension operator, which went into administration in July 2022. The FCA alleges that Hartley provided it with false and misleading information and improperly withdrew…
This speech discusses central bank independence, particularly as it relates to monetary policy versus financial stability objectives. It covers topics relevant to banking, investment management, and wealth management firms, including prudential requirements, operational resilience, and governance.
Consumers and businesses could be given greater control over their financial data to help secure better deals, under a vision for open finance published by the FCA. Open finance will unlock the potential for people and businesses to share their financial data securely with a range of financial services providers…
Why this matters
This regulatory update from the FCA outlines a vision for open finance, which has the potential to transform how consumers and businesses interact with financial services. It covers key areas such as data sharing, personalized services, and innovation - impacting a range of financial firms.
Given at the PSE–BdF Conference on International Macroeconomics in Historical Perspective at the Banque de France in Paris
Why this matters
This speech by a central bank official discusses the relationship between macroeconomic policy and economic history, with a focus on topics relevant to banking, investment management, and wealth management firms.
We are changing the publication dates of the Decision Maker Panel and Agents’ summary of business conditions so that they no longer fall on the same day as publication of the Monetary Policy Report
Why this matters
This regulatory update from the Bank of England announces changes to the publication dates of the Decision Maker Panel data and Agents' summary of business conditions. This information is relevant for banks, asset managers, and wealth managers as it impacts the timing of key economic data releases.
Letter from Sarah Breeden and Sam Woods to the Chancellor and Secretaries of State
Why this matters
This regulatory update from the Bank of England and PRA addresses the use of AI in financial services, which is a key technology topic impacting multiple sectors including banking, investment management, and wealth management.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory digest covers a range of updates relevant to banking, investment management and wealth management firms, including new policies on operational resilience, resolution planning, and disclosure requirements.
Shojin Financial Services Limited (Shojin) is a crowdfunding platform authorised and regulated by the FCA. Shojin allowed customers to make investments that were used to fund loans toward property developments. On 23 March 2026, Shojin went into administration. Simon Carvill-Biggs and Ian Corfield of FRP Trading…
Why this matters
This regulatory update is relevant to crowdfunding platforms, wealth managers, and fintech firms that provide investment services. It covers consumer protection, prudential requirements, and authorization issues related to the administration of Shojin Financial Services Limited, a regulated crowdfunding platform.
As part of ongoing improvements to My FCA, and following the successful removal of RegData sign in at the end of last year, we have now removed direct access to Connect and the Online Invoicing System. Firms do not need to take any action. All existing RegData, Connect and Online Invoicing links and bookmarked pages…
Why this matters
This regulatory update from the FCA announces improvements to the My FCA platform, including a streamlined sign-in process for all firms. It is informational in nature and impacts a broad range of financial services firms.
The Bank is today announcing a simplification and reduction in the Discount Window Facility (DWF) pricing, as part of its previously announced review of the DWF.
Why this matters
This regulatory update from the Bank of England relates to changes in the pricing and operation of the Discount Window Facility, which is a key liquidity management tool for banks and other financial institutions.
Given at the Exante Data 10 Year Anniversary Conference, New York
Why this matters
This speech by the Bank of England discusses the use of cookies on the BoE website, which is informational content relevant to firms across the banking, investment management, and wealth management sectors. The key topics covered include consumer protection, operational resilience, and technology/cyber risks.
We sympathise with former members of the British Steel Pension Scheme (BSPS) who lost money after they were given unsuitable advice from people they trusted. Complaints are a valuable source of feedback which help us improve and learn. There have also been 4 independent reports into the BSPS since 2018, which have…
AI Analysis
The FCA's response to the Complaint Commissioner's report on the British Steel Pension Scheme addresses systemic failures in pension transfer advice that affected approximately 7,700 members, with 47% receiving unsuitable advice. This statement demonstrates the FCA's acknowledgment of regulatory shortcomings and outlines remedial measures implemented to prevent similar harm, including enhanced inter-agency collaboration, stricter product governance rules, and a £106 million redress scheme now benefiting 1,870 affected members.
Key dates
Late 2017
- FCA received initial intelligence about poor pension transfer advice quality
December 2018
- FCA published initial findings showing less than 50% of reviewed advice was suitable
May 2020
- FCA directed 45 firms to conduct suitability assessments (Past Business Reviews)
April 2022
- FCA imposed asset retention rules for DB pension transfers
April 2023
- BSPS redress scheme formally introduced, requiring firms to review advice suitability and pay redress
Suggested considerations
*For firms that provided DB pension transfer advice:
*Conduct retrospective suitability reviews of all DB pension transfer advice provided, particularly during 2015-2018, identifying unsuitable recommendations
*Calculate and pay redress to affected customers to restore them to their pre-transfer financial position, with reference to the FSCS redress methodology
*Implement enhanced governance for DB pension transfer advice, including:
Documented suitability assessments with clear rationale
What changed
The FCA has implemented the following regulatory and operational changes in response to BSPS failures:
Enhanced inter-agency collaboration: Closer coordination between the FCA, The Pensions Regulator, Pension Protection Fund, and Money and Pensions Service to improve intelligence sharing on defined...
Data collection and monitoring: Expanded collection of pension transfer data from advisory firms to proactively identify emerging risks and market trends
Contingent charging ban: Prohibition of contingent charging arrangements for DB pension transfers to eliminate conflicts of interest where adviser compensation depends on transfer completion
Consumer transparency tool: Development of a self-assessment mechanism enabling consumers to identify whether they may have received unsuitable DB pension transfer advice
On 25 March 2026, following a petition filed by the FCA, the High Court ordered that Equity for Growth (Securities) Limited (EFG) be wound up. EFG is a corporate finance firm. EFG was also a principal for a number of appointed representatives between 2015 and 2020, including Amyma Ltd and Osborne Baldwin Ltd, which…
Why this matters
This regulatory update from the FCA indicates that Equity for Growth (Securities) Limited, a corporate finance firm and principal for several appointed representatives, has been ordered to be wound up due to insolvency and inability to pay compensation claims.
We have set out plans for using AI to speed up authorisations, testing new tools to identify key risks earlier, with our people remaining at the heart of decision-making. The new authorisation tool is being developed internally and will be integrated into existing FCA systems.It forms part of our annual work programme…
Why this matters
This regulatory update from the FCA outlines plans to leverage AI and digital tools to streamline authorization processes, enhance supervision, and improve firms' experience with regulation.
The Bank of England and Prudential Regulation Authority have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition.
Why this matters
This regulatory update from the Bank of England streamlines reporting and disclosure requirements for the bank failure regime, which is relevant for banks and wealth managers. The changes aim to reduce regulatory burden while maintaining a robust resolution framework, which is a medium priority topic for these firms.
More people could access financial advice, under proposals set out by FCA. The FCA is consulting on how to make it easier for firms to give more simplified forms of individualised financial advice to consumers.Simplified forms of advice can help consumers with more straightforward needs and do not require a full…
Why this matters
This regulatory update from the FCA focuses on proposals to make it easier for firms to provide simplified forms of financial advice to consumers, which could impact investment managers, wealth managers, and banks that offer advisory services.
Speech at the National Bank of the Republic of North Macedonia and SUERF conference – Central Banking Amid Persistent Global Shifts: Fostering Stability, Innovation, and Resilience, Skopje
Why this matters
This speech from the Bank of England discusses the use of cookies on their website, which is relevant to the operational resilience and technology/cyber topics for banks, wealth managers, and fintechs. It provides information to consumers on the bank's cookie policy, which falls under consumer protection.
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
Why this matters
This regulatory update from the Bank of England discusses changes to monetary policy, including the decision to maintain the Bank Rate at 3.75%. This will impact banks, asset managers, and wealth managers through changes to interest rates, inflation, and economic conditions.
Given at University of Leeds, Cloth Hall Court, Leeds
Why this matters
This speech discusses updates to the Bank of England's liquidity framework for banks and building societies, which is relevant for prudential regulation, operational resilience, and technology/cyber risks across the banking and wealth management sectors.
KasimGaripoglu has been banned from working in UK financial services. The FCA found he is not fit and proper because of his lack of honesty and integrity. Mr Garipoglu is the owner of a firm that provided online trading of foreign exchange and contracts.Between April 2012 and December 2022, including when Mr Garipoglu…
Why this matters
This regulatory update from the FCA bans an individual, Kasim Garipoglu, from working in UK financial services due to lack of honesty and integrity. It covers misconduct related to anti-money laundering controls, providing false information to regulators, and other serious compliance failures.
Given at Connect Global Group 4th Annual Treasury and Capital Markets Forum
Why this matters
This speech by the Bank of England discusses the PRA's approach to data collection and reporting, which is relevant for banking, investment management, and wealth management firms. Key topics covered include prudential requirements, regulatory reporting, and the use of technology.
On 9 March 2026, the High Court placed Concept Capital Group (CCG) into administration. BTG are the administrators of the company. In July 2025, the FCA announced High Court proceedings against CCG and others over an alleged unauthorised investment scheme. CCG has been under a court order that temporarily froze its…
Why this matters
This regulatory update is relevant for investment management and wealth management firms, as it involves an alleged unauthorized investment scheme promoted by Concept Capital Group.
We're concerned that HDH Investment Services Limited may have given unsuitable financial advice to some of its customers, potentially leading to financial loss. We recently placed restrictions on HDH Investment Services Limited (HDH). From 20 January 2026, HDH agreed to stop carrying out all regulated activities. This…
Why this matters
This regulatory update from the FCA warns customers of potential unsuitable financial advice from HDH Investment Services Limited, a wealth management firm. The FCA has placed restrictions on HDH, preventing it from carrying out regulated activities.
Speech by Lucy Castledine, director of consumer investments, at the TISA Inclusive Investing Conference 2026. Speaker: Lucy Castledine, director, consumer investmentsEvent: TISA Inclusive Investing Conference 2026Delivered: 4 March 2026Note: this is the speech as drafted and may differ from the delivered…
Why this matters
This speech covers the FCA's priorities for the consumer investments sector, including building a stronger investment culture, strengthening trust, securing good customer outcomes, and strengthening financial crime controls.
The latest report from the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) finds there is still room for improvement. The anti-money laundering supervisors of professional services firms are more effective than at any time since 2018. However, OPBAS remains concerned that their enforcement lacks…
Why this matters
This regulatory update from the FCA's Office for Professional Body Anti-Money Laundering Supervision (OPBAS) is relevant for banks, wealth managers, and all firms in the financial services industry.
Given at the Monetary Policy Mandate Conference at Norges Bank, Oslo
Why this matters
This speech from the Bank of England discusses central bank mandates and how they have evolved over time, with a focus on the Bank of England's mandate and its implications for monetary policy decisions.
Firms can now apply for permission to provide targeted support. Targeted support is a once in a generation change that will help millions navigate their financial lives. From 6 April 2026, people’s banks, pension providers, or other financial firms that are authorised for targeted support can provide suggestions…
Why this matters
This regulatory update from the FCA opens a new authorization gateway for firms to provide 'targeted support' services to consumers, which is a new regulated activity.
Katharine Braddick CB appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority, succeeding Sam Woods when his term ends in June 2026.
Why this matters
This regulatory update announces the appointment of a new Deputy Governor for Prudential Regulation at the Bank of England, who will lead the Prudential Regulation Authority (PRA).
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Why this matters
This regulatory update from the Bank of England covers topics relevant to banking, investment management, and wealth management firms, including prudential requirements, operational resilience, and reporting/disclosure. The update is informational in nature rather than an urgent regulatory change.
The Upper Tribunal has upheld the FCA's decisions to ban Stephen Joseph Burdett and James Paul Goodchild from working in financial services. Mr Burdett and Mr Goodchild previously held senior roles at Synergy Wealth Limited (Synergy) and Westbury Private Clients LLP (Westbury), respectively.The FCA banned the pair…
This regulatory update from the Bank of England discusses the use of cookies on their website, which is informational in nature and not an urgent regulatory change. It is relevant to banking, investment management, and wealth management firms in terms of operational resilience, technology, and cyber security.
Given at the AlUla Conference for Emerging Market Economies 2026
Why this matters
This speech covers a broad overview of the current state of the global economy, including discussions on productivity, AI, trade imbalances, and the financial system.
UnauthorizedThis firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not…
Why this matters
The update is a standard FCA unauthorised firm warning listing Wealth-ISA as operating without permission. It targets a specific entity rather than establishing new rules or enforcement precedent.
This article provides an update regarding implementing changes for country grouping conventions used in statistics covering the international business of monetary financial institutions operating in the UK and the consolidated claims of UK headquartered monetary financial institutions.
Why this matters
This regulatory update from the Bank of England relates to changes in the country groupings used for international banking statistics, which will impact reporting and disclosure requirements for banks and wealth managers. The changes are being implemented over the next few years, so the urgency is medium.
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
Why this matters
This regulatory update from the Bank of England provides information on monetary policy decisions, including changes to the bank rate. This is relevant for banking, investment management, and wealth management firms that need to understand the macroeconomic environment and interest rate outlook.
The FCA has imposed restrictions on independent financial adviser Advantage Wealth Management Ltd (AWM), which means it must not dispose of any assets or conduct any regulated activities without the written consent of the FCA. The action follows concerns that AWM is not being managed in a way that ensures that its…
Why this matters
This regulatory update from the FCA imposes restrictions on an independent financial adviser, Advantage Wealth Management Ltd, due to concerns about its treatment of customers, financial resources, and lack of cooperation.
The Upper Tribunal has upheld the FCA’s decision that Rangecourt SA (formerly Banque Havilland), Edmund Rowland, the former London CEO and Vladimir Bolelyy, a former Bank employee, acted without integrity. The Tribunal agreed with the FCA that significant fines should be imposed, deciding that fines of £4m, £352,000…
Why this matters
This regulatory update from the FCA involves misconduct by a bank (Banque Havilland) and its employees in attempting to manipulate the Qatari currency and economy, which has implications for financial crime, prudential requirements, and market abuse.
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit. The Scale-up Unit announced last year is designed to build stronger ties and provide tailored support for fast-growing and…
Why this matters
This regulatory update announces the first cohort of firms to join the Scale-up Unit, a joint initiative by the PRA and FCA to provide tailored support for fast-growing and innovative financial firms.
Letter to Chief Financial Officers of the major UK banks ahead of the third RAF assessment
Why this matters
This regulatory update from the Bank of England is focused on the Resolvability Assessment Framework (RAF), which is relevant for banks and investment firms. It discusses firms' preparations for the third RAF assessment, which is a key prudential and operational resilience requirement.
Speech by Sheldon Mills, at the FCA's Supercharged Sandbox Showcase event. Before we begin, take a look around this room. This is the Supercharged Sandbox. 23 firms at the frontier of retail financial services, chosen from 132 applications. If anyone still doubts the pace of AI change in our sector, this room is the…
Why this matters
This speech by the FCA discusses a long-term review into the impact of AI on retail financial services, covering opportunities, risks, and implications for regulation.
Given at the Audit and Risk Committee Dinner, Undercroft Gallery, Roman Amphitheatre, Guildhall
Why this matters
This speech covers the Bank of England's efforts to modernize its financial framework, including balance sheet strategy, investment and funding strategy, innovation and digitization, and people strategy. It is an informational update on the Bank's transformation and does not require immediate action.
FCA stunt launches new Firm Checker tool as around 700,000 people lose money to investment scams. Morning commuters at London Waterloo got more than their usual caffeine hit today when a mysterious 'ATM' promising to 'give away a fortune' stopped them in their tracks – and revealed an unexpected surprise.As curious…
The FCA has launched a review into the implications of advanced AI on consumers, retail financial markets and regulators. The Review will be led by Sheldon Mills and builds on the FCA’s existing work on AI. This includes its AI Discussion Paper, AI Sprint, and AI Lab including AI Live Testing and its groundbreaking…
The FCA's PS25/22 establishes a new regulatory framework for **targeted support**—a form of financial guidance that allows authorised firms to provide ready-made suggestions to consumer segments without conducting individualised suitability assessments. This framework addresses the UK's "advice gap" by enabling firms to deliver affordable, scalable financial support to an estimated 18 million consumers within a decade, fundamentally shifting how retail investors and pension savers access guidance on investment and retirement decisions.
Key dates
29/08/2025
- Consultation period closed (CP25/17 and CP25/26)
11/12/2025
- Policy Statement PS25/22 published with near-final rules
March 2026
- Firms may begin applying for targeted support permission
06/04/2026
- New rules expected to come into force (subject to Government legislation making targeted support a specified activity)
Suggested considerations
*Immediate (January–February 2026):
*Pre-Implementation (March 2026):
Consumer segment definitions with supporting rationale
Ready-made suggestion frameworks
Communication templates explaining the nature of targeted support
What changed
The framework introduces several material regulatory changes: New Specified Activity Status Targeted support will be designated as a new specified activity under the Regulated Activities Order, meaning only FCA-authorised firms can provide this service. This creates a regulatory boundary distinct from both unregulated guidance and regulated investment advice. Purpose Statement Refinement The FCA amended its original purpose statement from "better outcomes" to "better position" to clarify policy intent and avoid confusion with the Consumer Duty requirement for "good outcomes." This...
We urge consumers thinking of investing in high-risk securities, such as mini-bonds and loan notes, to continue to be cautious. On 19 January 2026, the Public Offers and Admissions to Trading regime came into force. The regime sets new rules and standards about when an offer of securities to the public can be made.A…
Why this matters
This regulatory update from the FCA focuses on high-risk securities like mini-bonds and loan notes, which are of concern for consumer protection. It provides guidance for investors on what to look out for, including checking if firms are authorized.
Speech by Sheree Howard at the FCA's Gateway to growth, Chicago Booth London Conference Centre. The first time I flew was in my teenage years, and like many of my generation, that was a flight to Europe for a family holiday. I didn’t make it further afield until I was in my mid to late twenties.Today, most, if not all…
Why this matters
This speech from the FCA discusses updates to the authorization process, including efforts to streamline and digitize the application review, as well as new initiatives to support firms through the authorization journey.
The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal. The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal.Mr Reynolds was dishonest…
On 16 January 2026, Logic Investments Ltd (Logic Investments) entered special administration. Alex Watkins and Ed Boyle of Interpath Ltd were appointed as joint special administrators. Logic Investments is FCA authorised and regulated to provide wealth management services. On 16 December 2025, Logic Investments agreed…
Why this matters
This regulatory update from the FCA announces that Logic Investments Ltd, an FCA-authorized wealth management firm, has entered special administration due to concerns over its financial position.
On 19 December 2025 the High Court approved the FCA’s proposals to distribute funds to Asset Land investors. The Court has directed the FCA to pay funds to investors in the Asset Land schemes who provide valid bank account details to the FCA on or before 20 February 2026.Investors who have not received previous…
Why this matters
This regulatory update from the FCA relates to the distribution of funds to investors in the Asset Land schemes, which falls under the Investment Management and Wealth & Private Banking sectors. The key topics covered are consumer protection and reporting/disclosure requirements.
Given at the Bellagio Group event, Bank of England
Why this matters
This speech from the Bank of England Governor discusses global economic imbalances and their impact on the financial sector, covering topics related to prudential requirements, operational resilience, and ESG considerations. It is relevant for banks, asset managers, and wealth managers.
Letter to Chief Executive Officers of PRA regulated international banks active in the UK
Why this matters
This letter from the PRA outlines 2026 priorities for international banks active in the UK, covering key areas such as prudential requirements, operational resilience, and governance. It is relevant for banks and wealth managers operating in the UK.
This speech by the Bank of England's Deputy Governor discusses the evolution of the Bank's approach to resolution, which is relevant for banking and investment management firms in terms of prudential requirements, operational resilience, and governance. The content is informational in nature.
The Financial Conduct Authority, Bank of England and Prudential Regulation Authority (UK regulators) have together signed a Memorandum of Understanding (MoU) with the European Supervisory Authorities to enhance cooperation and oversight of critical third parties (CTPs) that fall under the UK’s CTP regime.
Why this matters
This regulatory update is relevant for banks, asset managers, and wealth managers as it strengthens oversight of critical third parties, which is a key operational resilience and prudential concern.
This speech by a Bank of England official covers topics related to the banking and investment management sectors, including prudential requirements, operational resilience, and ESG/sustainability. The content appears to be informational rather than an urgent regulatory update.
We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell.
Why this matters
This is an informational news update from the Bank of England expressing solidarity with the Federal Reserve and its Chair. It does not appear to contain any new regulatory requirements or urgent actions for firms, but rather is a general statement of support.
We reviewed how firms sell complex exchange traded products (ETPs) to retail consumers. Complex ETPs are a subset of the wider ETP market and include high-risk investment strategies that can be difficult for retail consumers to understand.We assessed how firms of different sizes and business models evaluate these…
Why this matters
This regulatory update from the FCA focuses on the sale of complex exchange traded products (ETPs) to retail investors. It highlights the need for firms to ensure investors understand the risks and that they are meeting their obligations under the Consumer Duty.
Pension schemes must now publish transparent data on their performance, costs, and service quality, according to new proposals from the FCA, DWP, and TPR. Pension schemes will need to publish clear data on their performance, costs and quality of service, under proposals announced today by the Financial Conduct…
Why this matters
This regulatory update is focused on new requirements for pension schemes to publish transparent data on their performance, costs, and service quality. This impacts investment managers, wealth managers, and insurance firms that offer pension products.
On 12 November the PRA hosted a roundtable meeting with Chief Financial Officers (CFOs) of systemically important firms operating in the UK, to discuss Future Banking Data (FBD).
Why this matters
This regulatory update is a summary of a roundtable discussion between the PRA and CFOs of systemically important firms operating in the UK. The topics covered include Future Banking Data, which is relevant to banking, investment management, and wealth management firms from a prudential, reporting, and operational...
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This is a general regulatory digest covering key updates across multiple sectors and topics relevant to UK financial services firms. The low urgency reflects the informational nature of the content.
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Why this matters
This regulatory update discusses the Bank of England's Court of Directors, which is responsible for setting the organization's strategy and making key decisions. This is relevant for banking, investment management, and wealth management firms that are subject to the Bank of England's oversight and governance...
A growing number of investment schemes are being promoted unlawfully, are high risk and may even be scams. We've identified a growing number of investment schemes in holiday lodges and holiday homes being promoted to UK consumers by companies that are not FCA authorised.They may be unregulated collective investment…
AI Analysis
The FCA has issued a consumer warning about unregulated investment schemes in holiday lodges and holiday homes, which are often promoted unlawfully by unauthorised firms, posing high risks or outright scams. These schemes typically involve collective investments without FCA authorisation, breaching UK financial promotion and collective investment scheme (CIS) rules. This matters for compliance professionals as it signals heightened FCA scrutiny on unauthorised promotions, potential enforcement actions, and the need for firms to review marketing materials and client referrals to avoid facilitation risks.
Suggested considerations
Immediate verification: Check client-facing promotions, websites, and advisor scripts for any reference to holiday lodge/park schemes; ensure no endorsement of unauthorised products.
Client communication review: Audit advice processes to flag and reject high-risk, unregulated collective schemes; document refusals.
Training and monitoring: Update firm-wide training on CIS definitions (per COLL sourcebook) and unauthorised promotion risks; enhance surveillance of emails, social media, and third-party referrals.
Internal reporting: Escalate any suspected unauthorised promotions to the FCA via Connect or the unauthorised firms reporting form (https://www.fca.org.uk/consumers/report-scam-unauthorised-firm).
Due diligence: For authorised firms, implement pre-approval checks under the financial promotions regime (PERG 8 guidance) to confirm partner schemes are not CIS.
What changed
This is not a formal rulemaking or policy change but a consumer alert and enforcement signal under existing regulations. Key reminders include:
Unauthorised firms cannot lawfully promote collective investment schemes (CIS) under section 21 of the Financial Services and Markets Act 2000 (FSMA).
Holiday park schemes pooling investor funds for lodge purchases and management often qualify as unregulated CIS, making promotions illegal.
No new requirements are introduced, but the FCA emphasises its ongoing monitoring and willingness to intervene, including via the Financial Promotions Regime (effective from 7 October 2023 for all...
Compliance impact
Urgency: High. This alert indicates active FCA enforcement priority on consumer-facing scams in property-linked investments, with risks of fines, bans, or asset freezes for non-compliance (e.g., similar to past actions against mini-bond issuers). Firms face heightened supervisory visits or thematic reviews; inaction could lead to principal liability for facilitating unauthorised activities, especially post-2023 promotions regime. Prioritise within 30 days to align with FCA's "buyer beware" stance shifting to proactive gatekeeping.
The FCA has removed all regulatory permissions from Verus Financial Services Limited requiring it to stop conducting all regulated activities and imposed a more stringent assets restriction. The action follows concerns that the firm has repeatedly breached an existing asset restriction, which prevented it from…
Why this matters
This regulatory update from the FCA indicates that Verus Financial Services Limited has had its regulatory permissions removed and faces stricter asset restrictions due to repeated breaches and failure to comply with a Financial Ombudsman Service decision.
The PRA has published LIAF03/25, a collection of final low impact rule amendments.
Why this matters
This is a regulatory update from the PRA on low impact rule amendments, which is likely to be of interest to banks, asset managers, and wealth managers in the banking, investment management, and wealth management sectors.
The Artificial Intelligence Consortium (AIC) aims to provide a platform for public-private engagement to further dialogue on the capabilities, development, deployment, use, and potential risks of artificial intelligence (AI) in UK financial services.
Why this matters
This regulatory update discusses the Artificial Intelligence Consortium, which aims to facilitate dialogue on the development and use of AI in UK financial services.
Exchange of letters between the Governor and the Chancellor
Why this matters
This exchange of letters between the Governor and Chancellor regarding CPI inflation is relevant for banks, asset managers, and wealth managers as it relates to prudential requirements, reporting, and consumer protection issues around inflation.
Provisional dates for Monetary Policy Committee (MPC) announcements on Bank Rate and publication of MPC meeting minutes and the quarterly Monetary Policy Report.
Why this matters
This regulatory update provides information on the provisional dates for Monetary Policy Committee announcements, which is relevant for banks, asset managers, and wealth managers that need to monitor monetary policy decisions. The content is informational in nature, so the urgency is low.
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
Why this matters
This regulatory update from the Bank of England relates to changes in the Bank Rate, which is a key monetary policy tool that impacts banks, investment managers, and wealth managers. The update is of medium urgency as it provides important information about the central bank's policy decisions.
Earlier this year, we undertook a refresh of our Sustainable Finance Advisory Committee. In line with good governance, we planned to refresh the membership on a staggered basis, allowing us to bring in new expertise whilst benefiting from some continuity. Following this process, we are pleased to announce the…
Why this matters
This regulatory update announces the appointment of new members to the FCA's Sustainable Finance Advisory Committee, which is relevant for investment management, wealth management, and other financial firms with an interest in ESG and sustainability.
We're providing guidance to support firms to tackle bullying, harassment and violence in financial services, after they asked for additional support. In July, we changed our rules – setting clearer standards for how financial services firms should address non-financial misconduct.This more closely aligned the rules…
Why this matters
This regulatory update from the FCA provides guidance to financial services firms on addressing serious non-financial misconduct, such as bullying, harassment and violence. It is relevant for banking, investment management and wealth management firms, as well as the broader financial services industry.
David Roberts has been reappointed as Chair of the Court of the Bank of England by His Majesty the King
Why this matters
This regulatory update announces the reappointment of key individuals to the Bank of England's Court of Directors, which is relevant for banks and wealth managers from a governance and regulatory oversight perspective.
Given at the 20th High-level meeting on financial stability and regulatory and supervisory priorities (jointly organised by the Arab Monetary Fund, the Basel Committee on Banking Supervision and the Financial Stability Institute of the Bank of International Settlements).
Why this matters
This speech discusses the need to promote innovation in the financial sector while also guarding against financial stability risks. It covers topics related to prudential requirements, technology and cyber risks, as well as authorization and licensing for financial firms.
The Prudential Regulation Authority’s (PRA) update to the Prime Minister on work to support economic growth.
Why this matters
This appears to be a general update from the PRA to the Prime Minister on their work to support economic growth, which would be relevant for a range of financial services firms across the banking, investment management, and wealth management sectors.
In line with the Bank's transition to a repo-led, demand-driven operational framework for providing reserves, the Bank is today announcing a reduction in the spread to Bank Rate of the Operational Standing Facility (OSF). This Market Notice confirms the new, recalibrated spread of the OSF at Bank Rate +15bps for the…
Why this matters
This regulatory update from the Bank of England is relevant to banks, wealth managers, and asset managers as it announces changes to the Operational Standing Facility, which is a key part of the central bank's monetary policy framework.
A raft of new measures designed to support the growth of the mutuals sector have been announced today by the financial regulators. They include a review of credit union regulations and the launch of a Mutual Societies Development Unit by the Financial Conduct Authority (FCA).
Why this matters
This regulatory update announces measures to support the growth of the mutuals sector, including a review of credit union regulations and the launch of a Mutual Societies Development Unit.
Given at Bayes Business School for the 6th Research Workshop on The Future of Financial Mutuals
Why this matters
This speech discusses the evolving landscape of UK financial mutuals, which are banking and investment firms with a mutual ownership structure. The key topics covered include consumer protection, prudential requirements, and authorization/licensing - all of relevance to banks, wealth managers, and the broader...
This report has been informed by the PRA and FCA’s ongoing regulation and supervision of mutuals and by direct engagement with mutuals and their trade associations in sessions around the country throughout 2025.
Why this matters
This report provides an overview of the mutual landscape, informed by the PRA and FCA's ongoing regulation and supervision. It is likely to be informational in nature, providing insights into the mutual sector rather than announcing any new regulatory changes.
The Bank of England (the Bank) has today launched its second system-wide exploratory scenario (SWES) exercise. This will focus on how the private markets ecosystem operates under stress and the potential implications for UK financial stability and the UK real economy.
Why this matters
This regulatory update from the Bank of England focuses on how the private markets ecosystem operates under stress and the potential implications for UK financial stability and the real economy.
Given at Womble Bond Dickinson, Newcastle, hosted by the North East Chamber of Commerce
Why this matters
This speech by the Bank of England covers topics relevant to banking, investment management, and wealth management firms, focusing on consumer protection, operational resilience, and technology/cyber issues. The content is informational rather than an urgent regulatory update.
Our Financial Policy Committee (FPC) meets to identify risks to financial stability and agree policy actions aimed at safeguarding the resilience of the UK financial system.
Why this matters
This regulatory update from the Bank of England's Financial Policy Committee is relevant to banking, investment management, and wealth management firms. It covers key topics such as prudential requirements, operational resilience, and consumer protection, which are of medium importance for these sectors.
Exchange of letters between the Governor and the Chancellor
Why this matters
This regulatory update from the Bank of England's Financial Policy Committee is likely to impact banking, investment management, and wealth management firms, with a focus on prudential requirements, operational resilience, and reporting obligations.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This regulatory digest covers a range of topics relevant to banking, investment management, and wealth management firms operating in the UK. The low urgency indicates this is informational content summarizing key regulatory news and publications for the month.
The PRA has set the 2025 O-SII buffer rates for ring-fenced banks, large domestic firms, and large building societies
Why this matters
This regulatory update is relevant for ring-fenced banks, large domestic banks, and large building societies, as it sets the 2025 O-SII buffer rates for these firms. This impacts their prudential and capital requirements, as well as their authorization and reporting obligations.
The PRA disclosure of UK headquartered G-SIIs for 2025.
Why this matters
This regulatory update is relevant to UK headquartered globally systemically important institutions (G-SIIs) in the banking, investment management, and wealth management sectors.
The PRA has published the list of designated O-SIIs for 2025
Why this matters
This regulatory update is relevant to banks, wealth managers, and the broader financial services industry as it designates certain firms as Other Systemically Important Institutions (O-SIIs), which have additional prudential and operational requirements.
The table below shows the outcomes of the annual DLT assessment for PRA relevant currencies, which will be effective from 1 January 2026.
Why this matters
This regulatory update from the PRA is relevant to banking, investment management, and wealth management firms, as it covers prudential and capital requirements, operational resilience, and reporting obligations.
This regulatory update from the Bank of England relates to the remit for the Monetary Policy Committee, which is relevant for banking, investment management, and wealth management firms in terms of prudential requirements, reporting, and governance. The update is informational in nature.
This statement from the Bank of England relates to a sponsored internship program focused on Black heritage, which is relevant to the banking, investment management, and wealth management sectors.
This regulatory update from the Bank of England discusses trends in income growth and consumption in the UK, which is relevant for banking, investment management, and wealth management firms.
From the start of December, UK bank customers will benefit from an increase to the maximum amount they would be reimbursed for if their bank were to fail
Why this matters
This regulatory update from the Bank of England increases the FSCS deposit limit, which is relevant for banks and wealth managers that hold customer deposits. It impacts prudential requirements and consumer protection.
Megan Greene has been reappointed as an external member of the Monetary Policy Committee by the Chancellor of the Exchequer, Rachel Reeves
Why this matters
This regulatory update announces the reappointment of an external member to the Monetary Policy Committee, which is relevant for banks, asset managers, and wealth managers from a prudential and governance perspective.
Find out more about the Monetary Policy Committee’s latest decision
Why this matters
This is a routine monetary policy update from the Bank of England, which is relevant for banks, wealth managers, and the broader financial services industry in terms of prudential requirements, operational resilience, and reporting obligations. The low urgency reflects the informational nature of the content.
Guidelines to assist firms considering providing services under the Berne Financial Services Agreement.
Why this matters
The guidelines provide information to firms on providing services under the Berne Financial Services Agreement, which is relevant for banking, investment management, and wealth management firms seeking to operate in this area.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This is a general regulatory digest covering key updates across multiple sectors and topics relevant to UK financial services firms. The low urgency reflects the informational nature of the content.
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Why this matters
This regulatory update discusses the Bank of England's Court of Directors, which is responsible for setting the organization's strategy and making key decisions. This is relevant for banking, investment management, and wealth management firms, as it covers prudential requirements, operational resilience, and...
This regulatory update from the PRA provides information on its methodologies for setting Pillar 2 capital requirements, which is relevant for banks, asset managers, and wealth managers.
This speech from the Bank of England discusses the Financial Policy Committee's mandate and the balance between financial stability and economic growth. It covers topics related to prudential requirements, operational resilience, and ESG, which are relevant for banks, asset managers, and wealth managers.
Given at central Bank of Ireland ninth annual workshop of the ESCB research cluster 2
Why this matters
This speech by a Bank of England official discusses trade challenges, which could impact banking, investment management, and wealth management firms from a prudential, operational, and ESG perspective.
This speech by the BoE's Sam Woods covers topics relevant to banking, investment management, and wealth management firms, including prudential requirements, operational resilience, and technology/cyber risks. The content appears to be informational rather than an urgent regulatory update.
This regulatory update from the Bank of England covers topics related to Islamic finance and the Alternative Liquidity Facility, which are relevant for banking, investment management, and wealth management firms.
Given at the Group of Thirty’s 40th International Banking Seminar 2025, Washington DC
Why this matters
This speech by the Bank of England Governor covers the global economic outlook, which is relevant for banking, investment management, and wealth management firms.
Speech at the Institute of Chartered Accountants of England and Wales annual conference Thriving in Transformation, London
Why this matters
This speech by the Bank of England's Chief Economist Huw Pill discusses the evolving UK monetary policy landscape, which is relevant for banking, investment management, and wealth management firms. It covers topics related to prudential requirements, operational resilience, and the broader macroeconomic environment.
The PRA has published LIAF02/25, a collection of final low impact rule amendments.
Why this matters
This is a regulatory update from the PRA on low impact rule amendments, which is likely to be of interest to banking, investment management, and wealth management firms from a prudential, operational resilience, and reporting perspective.
The PRA and FCA have today confirmed plans to increase flexibility around senior banker pay, alongside changes to create better links between bonus awards and responsible risk-taking.
Why this matters
This regulatory update from the PRA and FCA impacts the banking and wealth management sectors, with changes to senior banker pay and bonus structures related to prudential requirements, governance, and consumer protection. The medium urgency reflects the forward-looking nature of the changes for 2025.
This speech by the Bank of England covers topics relevant to banking, investment management, and wealth management firms, including AML/financial crime, prudential requirements, and operational resilience. The content appears to be informational rather than an urgent regulatory update.
This speech by a Bank of England official discusses the consumption gap, which is relevant to banking, investment management, and wealth management firms in terms of consumer protection, prudential requirements, and reporting. The content is informational rather than urgent regulatory action.
The Maxwell Fry Lecture of the Money, Macro and Finance Society given at the University of Birmingham
Why this matters
This speech from the Bank of England discusses uncertainty, structural change, and monetary policy strategy, which are relevant to banking, investment management, and wealth management firms.
Not for distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan or any other jurisdiction where it is unlawful to distribute this announcement.
Why this matters
This regulatory update from the Bank of England relates to foreign currency reserves, which is relevant for banking, investment management, and wealth management firms.
Given at the Scotland Global Investment Summit 2025
Why this matters
This speech by the BoE Governor covers investment in Scotland, which is relevant to banking, investment management, and wealth management firms. The key topics discussed are likely prudential requirements, ESG, and authorization/licensing, which are important for firms operating in these sectors.
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Why this matters
This is a general regulatory digest covering key updates across multiple sectors and topics relevant to UK financial services firms. The low urgency reflects the informational nature of the content.
This speech by Sarah Breeden of the Bank of England covers topics related to prudential requirements, operational resilience, and ESG/sustainability, which are relevant for banks, asset managers, and wealth managers.
Given at the Adam Smith Business School, University of Glasgow
Why this matters
This speech by Megan Greene of the Bank of England discusses the importance of focusing on the supply side of the economy, which has implications for banking, investment management, and wealth management firms in terms of prudential requirements, operational resilience, and ESG/sustainability considerations.
Given at the Inaugural Pictet Research Institute Symposium 2025
Why this matters
This speech from the Bank of England covers topics related to prudential requirements, operational resilience, and technology/cyber risks, which are relevant for banks, asset managers, and wealth managers.
Given at the Cross Market Operational Resilience Group (CMORG) conference
Why this matters
This speech from the Bank of England discusses operational resilience from a systemic risk perspective, covering topics relevant to banks, asset managers, and wealth managers such as prudential requirements, technology and cyber risks, and outsourcing.
On 1 July, the PRA and the Bank of England held a roundtable meeting with representatives of non-systemic UK banks and building societies.
Why this matters
This roundtable discussion with non-systemic UK banks and building societies is likely focused on prudential requirements, operational resilience, and authorization/licensing issues relevant to these types of firms.
CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised…
Why this matters
The FCA warning targets a specific fraudulent clone impersonating Societe Generale to deceive consumers. While administratively routine (clone warnings are standard FCA practice), the urgency is elevated because it alerts consumers to an active scam with specific contact details and requires immediate protective...
CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised…
Why this matters
The FCA warning identifies fraudulent clone websites impersonating Societe Generale to conduct financial scams. The content is administrative in nature—a standard consumer alert about unauthorised firms—but carries high urgency due to active fraud risk.
Given at The Future of Central Banking conference on the occasion of the 100th Anniversary, Banco de México
Why this matters
This speech by a central bank official discusses research and the future of central banking, which is relevant for banking, investment management, and wealth management firms in terms of prudential requirements, operational resilience, and technology/cyber risks.
Given at OMFIF Economic and Monetary Policy Institute
Why this matters
This speech by a Bank of England official discusses liquidity and resilience in the financial system, which is relevant for banks, asset managers, and wealth managers.
Based on remarks given at the Chapman-Barrigan lecture
Why this matters
This speech by the BoE covers topics related to the banking and investment management sectors, focusing on prudential requirements, ESG/sustainability, and operational resilience - all of which are key regulatory priorities for firms in these sectors.
Given at the London School of Economics and Political Science
Why this matters
This speech by a Bank of England official covers topics relevant to banking, investment management, and wealth management firms, including prudential requirements, operational resilience, and governance. The content appears to be informational rather than an urgent regulatory update.
This speech from the Bank of England Governor discusses the role and meaning of reserve currencies, which is relevant for banking, investment management, and wealth management firms. It touches on prudential requirements, consumer protection, and technological considerations around reserve currencies.
Given at the ECB Forum on Central Banking in Sintra, Portugal
Why this matters
This speech by a Bank of England official at the ECB Forum covers topics related to banking, investment management, and wealth management, including prudential requirements, operational resilience, and technology/cyber risks. The content is informational in nature.
This speech discusses the digitalization of finance, covering topics such as technology, operational resilience, and consumer protection. It is relevant for a range of financial firms including banks, fintechs, asset managers, and wealth managers.
Given at British Chamber of Commerce 2025 Global Annual Conference
Why this matters
This speech by the Bank of England Governor covers the UK economy in an unpredictable global environment, touching on prudential requirements, operational resilience, and ESG/sustainability - topics relevant to banks, asset managers, and wealth managers.
Given at the Barclays-CEPR Monetary Policy Forum 2025
Why this matters
This speech from the Bank of England Deputy Governor covers the outlook for the UK labour market, which is relevant for banks, asset managers, and wealth managers in terms of prudential requirements, operational resilience, and technology/cyber risks.
Speech given at the National Institute of Economic and Social Research
Why this matters
This speech from the Bank of England discusses the role of technology and innovation in the financial sector, with a focus on consumer protection and prudential requirements. It is relevant for banks, wealth managers, and fintechs.
Given at Britain’s Return to the Gold Standard in 1925 Revisited, Bank of England
Why this matters
This speech by the Bank of England Governor covers topics relevant to the banking, investment management, and wealth management sectors, including prudential requirements, operational resilience, and governance. The content appears to be informational rather than a regulatory update, so the urgency is set to null.
Given at the 9th NBU-NBP Annual Research Conference, Kyiv
Why this matters
This speech by the Governor of the Bank of England discusses central banking in times of extreme adversity, which is relevant for banking, investment management, and wealth management firms in terms of prudential requirements, operational resilience, and technology/cyber risks.
This speech by the Bank of England discusses the balance between innovation and regulation, which is relevant for banking, investment management, and wealth management firms.
This speech by the Bank of England covers topics relevant to investment management, wealth management, and capital markets firms, focusing on consumer protection, operational resilience, and ESG/sustainability. The content appears to be informational rather than an urgent regulatory update.
Given at Bank of Finland & SUERF Conference, Helsinki
Why this matters
This speech by Victoria Saporta of the Bank of England covers topics relevant to banking, investment management, and wealth management firms, including prudential requirements, operational resilience, and technology/cyber risks. The content appears to be informational rather than an urgent regulatory update.
CloneFraudsters copy the details of firms we authorise to try and convince people that their firm is genuine. Find out why you shouldn’t deal with this clone firm. Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK. This firm is not authorised…
Why this matters
The document is a public alert about named clone-firm websites, phone numbers and emails impersonating Citibank UK Limited (FRN 805574), aimed at consumers. It is tagged as financial crime and consumer protection because it concerns active investment-related fraud and the loss of FOS and FSCS protection.