On 25 March 2025, the Financial Conduct Authority (FCA) launched its new 5-year strategy for 2025-2030, which aims to deepen trust, rebalance risk, support growth and improve lives.
The FCA’s strategy focuses on four priorities, which are intended to reinforce each other:
On the same day as HM Treasury’s publication of an action plan setting out a ‘new approach’ to ensure regulators support growth, the Financial Conduct Authority (FCA) has sent a clear message to the financial services industry that it is prepared to tackle non-financial misconduct which it considers demonstrates a lack of integrity
FCA and PRA enforcement action covers a range of misconduct with recent outcomes including both retail and wholesale cases and findings in respect of matters as various as customer treatment, market abuse and risk management. The details of the breaches and the activity which gave rise to the issues may vary but a consistent theme
After much speculation regarding the fate of various outstanding FCA initiatives in relation to investigation announcements, D&I and non-financial misconduct, last week the FCA confirmed that:
1. it will no longer take forward the following proposals:
On 17 March 2025, HM Treasury (HMT) published an action plan setting out its new approach to ensure regulators and regulation support growth.
Background
HMT begins the action plan by highlighting the importance of regulation, which “underpins and impacts almost all areas of the UK economy”. It warns that the current regulatory
In our latest Global Regulation Tomorrow Plus podcast, Kevin Harnisch, Mark Highman, Katie Stephen and Hannah McAslan-Schaaf discuss the failure to prevent fraud offence under the UK’s Economic Crime and Corporate Transparency Act 2023, which comes into force on 1 September 2025, and how it might impact US firms.
Listen to the podcast here.
Following publication of the government’s guidance in November 2024 and ahead of the new offence coming into force on 1 September 2025, UK Finance has published guidance for the financial services sector on failure to prevent fraud (FtPF) which it says “should be taken into account by a supervisory or enforcement agency when
On 6 February 2025 the House of Lords Financial Services Regulation Committee published its report entitled ‘Naming and shaming: how not to regulate’ on the FCA’s November 2024 CP24/2, Part 2 regarding the controversial ‘name and shame’ proposals (which we summarised here). Responses to the FCA’s consultation are due next Monday 17th February
The FCA has published a Final Notice imposing a fine of £99,200 on a CFD provider for failing to make transaction reports over a 6 month period. We summarise below the key facts and potential impact for other firms who, in light of FCA expectations, may wish to consider proactively reviewing their own reporting and
In this article we look at key regulatory topics for 2025 that will have a significant impact on institutions operating in the UK financial services space. We have not attempted to list every single reform expected this year but rather pick out the top reforms in both the wholesale and retail space, as well as