On 25 March 2025, the All-Party Parliamentary Group (APPG) on Investment Fraud and Fairer Financial Services published its second Supplementary Report on the Financial Conduct Authority (FCA).

The Supplementary Report on the FCA is being published in instalments, with the first having been published in February 2025. The first instalment explained that the subsequent instalments would each be a study of how the FCA has handled a particular recent scandal, with an emphasis on what the FCA’s decisions and actions have been, and “how those decisions and actions have adversely impacted consumers and the reputational integrity of the sector, thereby harming trust and confidence in the UK’s financial industry and consequently acting as a brake on growth”.