FCA Regulatory Intelligence
Beyond the headlines: Impact analysis, sector insights, and actionable intelligence from ex-FCA regulators. Monitor consultations, enforcement, and policy changes affecting your firm.
Intelligence Coverage
- • Impact assessment for every FCA publication
- • Sector-specific analysis and deadlines tracking
- • Consultation summaries with response guidance
- • Enforcement action insights and trends
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High-impact regulatory changes affecting your business
CP26/1: The Value for Money Framework: Response to consultation, further consultation and discussion paper
The Value for Money (VFM) Framework is intended to support a significant shift in the way the workplace pensions industry operates and competes. This document contains our updated proposals, reflecting feedback from the previous FCA consultation (CP24/16). ... Read CP26/1 (PDF)Why we are consulting We are proposing revisions to make the way arrangements are assessed and compared more objective and robust. We are also responding to feedback and refining the data required. The main changes proposed since consultation CP24/16 are:The introduction of forward-looking metrics to be considered alongside backward-looking metrics in assessments.Fewer cost and backward-looking investment performance metrics, focused on key metrics.Streamlined service quality metrics to allow further engagement with industry on others.Comparisons of value against a commercial market comparator group rather than 3 other arrangements.A four-point rating system rather than three, to allow identification of top performers.Who this is forWe encourage firms operating contract-based workplace pensions, their IGCs and...
CP25/30: Streamlining the UK EMIR Intragroup Regime
Read our proposals to make the UK EMIR Intragroup Regime clearer for counterparties seeking intragroup exemptions from clearing and margin requirements. ... Read CP25/30Why we are consultingThe Temporary Intragroup Exemption Regime (TIGER) allows UK counterparties to apply for intragroup exemptions under the UK version of the European Market Infrastructure Regulation (UK EMIR) when trading over-the-counter (OTC) derivatives with group entities in non-equivalent jurisdictions. The TIGER expires on 31 December 2026. Industry feedback suggests that the exemption process could be streamlined. To address this, we aim to create a permanent, more proportionate regime for UK firms. A more streamlined intragroup regime:Supports UK firms to manage risk.Reduces unnecessary costs.This will support market integrity as well as our wider strategic objective to support growth.The Treasury plans to amend the UK EMIR and make additional changes to simplify the Intragroup Regime.To support the Treasury’s changes, we are consulting on proposals to:Further streamline the Intragroup...
CP25/2: Proposed changes to MiFID conduct of business rules for retail investors
The FCA is consulting on amendments to COBS to strengthen protections for retail investors accessing complex investment products. The proposals include enhanced disclosure requirements for ESG-labeled funds and stricter appropriateness assessments. The consultation closes on 15 April 2025. Investment firms, wealth managers, and platforms should review the proposals and consider responding. This follows recent enforcement action against firms with inadequate suitability processes.
CP25/29: Changes to the UK Short Selling Regime
We are consulting on our proposed rules and guidance for short selling activity. ... Read CP25/29 (PDF) Why we are consultingOur proposals are based on feedback from the Treasury’s Short Selling Regulation: Call for Evidence. This concluded that it was not necessary to fundamentally change the current short selling regime, although it should be modified to alleviate disproportionate burdens, on firms, that may inhibit or discourage short selling and its associated benefits.As a result, our proposals intend to create a more efficient, effective, and coherent short selling regime that retains sufficient visibility and controls over short selling activity to manage any risks and maintain the orderly and effective functioning of UK markets, while removing disproportionate costs. This supports the FCA’s market integrity objective, bolsters the competitiveness of UK financial markets, and contributes to the UK’s wider economic growth while providing appropriate safeguards.Who this is forThis consultation will be of interest...
Final Notice: FCA fines consumer credit firm £450,000 for forbearance failures
The FCA has issued a Final Notice imposing a £450,000 financial penalty on a consumer credit firm for failing to treat customers in arrears fairly. The firm did not properly assess forbearance requests and continued collection activities without adequate consideration of customer circumstances. This breaches CONC 7 requirements. The case highlights the FCA's focus on fair treatment of vulnerable customers in arrears. Credit firms should review their arrears and forbearance policies immediately.
FCA bans and fines advisor £100,281 for insider dealing
The FCA has fined Neil Sedgwick Dwane £100,281 for insider dealing and banned him from working for UK financial services. In 2022, Mr Dwane worked as an advisor for ITM Power Plc (ITM). Because of his role, Mr Dwane knew the details of an announcement ITM planned to make to the market on 27 October. Following that announcement, ITM’s share price fell by around 37%.The day before the announcement, Mr Dwane used the inside information and sold his own and a family member’s 125,000 shares worth £124,287. He took advantage of the subsequent fall in ITM’s share price to purchase 180,000 shares worth £140,700, gaining £26,575 from the price difference.Mr Dwane is an experienced financial professional and knew his conduct amounted to insider dealing, abusing his position of trust.Mr Dwane was required to obtain ITM’s permission before dealing in its shares, but he failed to do so.Steve Smart, executive director...
GC25/3: Primary Market Bulletin No. 58
We are consulting on the following changes we propose to make to the Knowledge Base. ... October 2025 updatePlease note that this webpage was updated on 31 October 2025 as we identified clerical errors in some of the guidance notes we propose to amend, as follows:(a) Draft Procedural Notes 903 and 908, and Technical Notes 305, 321, 522, 623, 626, 629 and 635 displayed blackline deletions which did not relate to any proposed deletions of text from the existing notes. Whilst the initially published draft notes ultimately showed how we propose the finalised text of the notes to appear, updated versions correcting the blackline errors were published on 31 October 2025 and are available via the relevant weblinks below. Please use these versions for the consultation ending on 21 November 2025; and(b) Errors in the draft Technical Note 602.5 were found, details of which are set out in the 'Amendments...
Additional Updates & Intelligence
Recent regulatory developments for monitoring
FCA fines former finance directors of Carillion plc (in liquidation)
Advice Guidance Boundary Review (AGBR) – Targeted Support Policy Sprint
GC25/1: Guidance on treating vulnerable customers fairly across financial services
FCA Handbook: Updates to SYSC (Systems and Controls) effective 1 February 2025
FCA obtains £265,523.96 confiscation order against Collateral fraudster Andrew Currie
FCA warns investors in CFDs risk losing out on protections
Banks need to help 'break the spell' of romance scams
14m unfair motor loans due compensation under FCA-proposed scheme
Building the mortgage market of tomorrow
Government’s decision on reforming anti-money laundering and counter-terrorism financing supervision
Japan and the UK: Shared growth, shared future
FCA secures US$101m redress for BlueCrest investors
FCA supports tokenisation to boost efficiency and innovation in asset management
Financial crime oversight in corporate finance firms shows gaps, says FCA
FCA review finds CFD providers may be failing to deliver fair value to consumers
Motor finance compensation scheme consultation progress and timing
Information for firms looking to offer crypto exchange traded notes
Red tape slashed by 70% under new capital rules
FCA publishes review of consolidation in financial advice and wealth management sector
FCA welcomes legislation to bring ESG ratings providers into regulation
Unlocking green growth: Why the UK is the smart bet for sustainable finance
Multi-firm review of contracts for difference providers’ provision of price and value
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