On 29 May 2025, the Financial Conduct Authority (FCA) issued a press release stating that it is reviewing and updating the requirements, directions and limitations applied to over 9,000 firms.

This action follows a review the FCA has taken to check that the data it holds on firms is accurate and that it reflects the current wording its uses for requirements, directions and limitations.

Next steps

The FCA states that where it identifies that changes are needed it will take the following steps:

• Immaterial updates: Where the FCA needs to make small amendments, and these do not change what a firm can or cannot do, it will make these automatically.
• Substantive changes: Where the FCA thinks it may need to make bigger changes, or remove a requirement, direction or limitation, it will contact the firm and find an efficient way of making the change.

The FCA adds that the changes will take place over the next few months.

Any amendments made may result in changes to firm information displayed on the FS Register.