On 19 June 2024, the Financial Conduct Authority (FCA) published an update on its review of the treatment of domestic Politically Exposed Persons (PEPs) by financial services firms.

The FCA explains that it had been on track to publish the findings from this review (which was launched in September 2023) in line with the end of June deadline set in the Financial Services and Markets Act 2023. However, it does not consider it appropriate to publish the review during the pre-election period.

The findings from the FCA’s review will now be published in July 2024, once Parliament has returned following the general election.