The Bank of England (Bank), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and the Payment Systems Regulator (PSR) (the Authorities) have a Memorandum of Understanding (MoU) which sets out the high-level framework that we use to cooperate with one another in relation to payment systems in the UK. The Financial Services (Banking […]

We have published a new report and an update on our work to establish an equities consolidated tape. A consolidated tape (CT) collates market data, such as prices and volumes associated with trades in a financial market. It aims to provide a comprehensive picture of transactions in a specific asset class, bringing together trades executed […]

We're updating the direction modifying the UK’s derivatives trading obligation (DTO) from 31 December 2024. This will replace the transitional direction which is expiring.The DTO is a G20 commitment to improve over-the-counter derivatives markets. The UK has implemented this commitment through Article 28 of the UK Markets in Financial Instruments Regulation (MiFIR). Under Article 28 […]

The FCA is establishing a bond consolidated tape (CT) to ensure that data is accessible in a cost-effective way. A bond CT collates data on transactions, such as prices and volumes, bringing together data on trades executed on trading venues as well as those arranged over-the-counter.We are starting the process of appointing a bond CT […]

We announced a package of measures a year ago to improve trust in and transparency of sustainable investment products.We know many consumers care about investing in products that have a positive impact on the planet and people. Results from our Financial Lives survey show that 81% of adults would like their investments to do some […]

The FCA has set out proposals for extra support for millions of UK savers to help them make better decisions about their pensions. This is part of a wider review of how the boundary between advice and guidance on investments operates, which is underway to help make sure consumers are better supported.Making sure consumers can […]

Our response to the Supreme Court's decision to hear an appeal on 3 motor finance cases. We welcome the swiftness of the Supreme Court's decision to hear an appeal against the Court of Appeal's judgment in 3 recent motor finance cases involving Close Brothers and FirstRand Bank.We previously wrote to the Supreme Court (PDF) asking […]

Clear crypto regulation will improve the integrity of the UK’s crypto markets, help protect people and support the UK's growth and competitiveness. Admissions and disclosures and market abuse regimes are crucial to improving the integrity and cleanliness of our crypto markets, as well as helping people make informed financial decisions.Our Discussion Paper DP24/4 (Admissions & […]

The FCA has decided to ban Mr Richard Fenech and Ms Heather Dunne from working in financial services and fine them £270,646 and £399,817 respectively. The FCA found that the pair operated a flawed advice model that put customers’ guaranteed pension benefits at significant risk, and that Ms Dunne failed to act with due skill, […]

Proposals for a new platform — The Private Intermittent Securities and Capital Exchange System (PISCES) — on which shares in private companies will be bought and sold have been set out by the FCA. PISCES will open the door to more opportunities for investors to take stakes in private companies. Greater confidence to invest in […]

Two FCA investigations involving unauthorised debt and claims management activities have resulted in arrests. The FCA, with the support of West Midlands Police, the Eastern Region Special Operations Unit and Police Scotland, has recently conducted 2 operations to search 7 addresses across the West Midlands, Cambridgeshire, Stirling and Cumbernauld. Two individuals were arrested in Birmingham […]

We welcome the additional clarity the judgment brings to discretionary commission arrangement (DCA) complaints. On 17 December 2024, the High Court found in favour of the Financial Ombudsman Service, in a review of its decision to uphold a complaint relating to a discretionary commission arrangement (DCA) in a motor finance agreement. The Court dismissed all […]

Latest research reveals that young investors are making important investment decisions in a matter of hours, rather than taking the time to check out whether the product is right for them in the long-term. A quarter of young investors admit they make investment decisions impulsively to keep up with current trends.£550 is average spend on […]

We welcome the Court of Appeal’s judgment which found that our decision to ban Mr Markou from financial services was the correct one. The Court of Appeal also determined that it was appropriate to fine Mr Markou £10,000.BackgroundIn 2021 the FCA published this Decision Notice in respect of Markos Markou, director and chief executive of […]

The FCA has set out plans to simplify the information supplied to investors to boost confidence and drive investment. Under the current rules, introduced across Europe when the UK was in the EU, people buying investments like investment funds are supplied with standardised documents covering prescribed information.In practice these documents were often complex, unclear, and […]

The FCA has charged John Dance with 9 criminal offences, including multiple counts of fraud and money laundering. John Dance was principal partner at WealthTek LLP (formerly known as Vertus Asset Management LLP (Vertus)), a wealth management firm.Prior to WealthTek obtaining direct authorisation from the FCA in 2020, Vertus operated first as a trading name […]

The FCA has called for people who may have invested in Collateral to come forward to the regulator so they can receive an apology. If you invested in Collateral and haven’t complained yet, fill out our complaint form by 31 March 2025.Collateral offered peer-to-peer style investments. Its directors were able to fraudulently change details about […]

The extension will help prevent disorderly, inconsistent and inefficient outcomes for consumers and firms. We have extended the time firms have to respond to complaints about motor finance agreements not involving a discretionary commission arrangement (DCA). Firms now have until after 4 December 2025 to provide a final response to non-DCAs, in line with the […]

On 26 September 2024, the Financial Services Compensation Scheme (FSCS) declared Colbourne & Company in default. This means the firm is no longer trading. Colbourne & Company (FRN: 125003) is a sole trader and is authorised and regulated by the FCA. The firm has a range of permissions which include:assisting in administration of insurancearranging deals […]

Speech by Sarah Pritchard, executive director, markets and executive director, international at the TISA (The Investing and Saving Alliance) Annual Conference.