FCA’s guide to submitting a PDMR and PCA notification The FCA’s guide

The Financial Conduct Authority (FCA) has published Primary Market Bulletin 48, which includes a consultation on changes the FCA is proposing to make to guidance in its Knowledge Base in relation to the listing regime, including rules for sponsors, in conjunction with the FCA’s recent consultation paper CP23/31, Primary Market Effectiveness Review.

STOP PRESS: The UK’s prospectus regime is currently based on the EU Prospectus Regulation, which was retained in UK law after Brexit as the UK Prospectus Regulation. The UK has been reviewing its prospectus regime as part of wider efforts to reform the capital markets in the UK and enhance its attractiveness as a listing venue. As part of this, the UK Prospectus Regulation

The Financial Conduct Authority (FCA) has published a speech delivered by its executive director of markets, Simon Walls, at the Global Management Summit 2025, Guildhall London. In the address, Walls outlined a series of regulatory reforms aimed at strengthening market growth and innovation while ensuring the integrity of financial markets. The speech detailed revisions to the listing regime that currently allow a greater number of transactions to proceed without the need for shareholder approval, as well as proposed changes to prospectus rules to lower the regulatory burden for capital raising. Additionally, the FCA has introduced a new trading venue, Private Intermittent Securities and Capital Exchange System (PISCES), designed to increase liquidity in private markets. The speech acknowledged that these measures involve certain risks and stressed the importance of transparency and informed decision-making in their implementation. Walls also confirmed plans to establish an international presence to bolster the UK’s position as a leading global financial centre.

Terms of Reference for the Wholesale Insurance Market Study The Financial Conduct Authority (FCA) launched a market study (MS 17/2) into the wholesale insurance market on 8 November 2017. The wholesale insurance broker sector was last examined in detail around ten years previously (by the FCA’s predecessor, the Financial Services Authority) and since then there have been significant changes. The number of insurance products and services has increased in recent years and many stakeholders have raised concerns about how this could give rise to a range of competition issues. The FCA plans to explore how competition is currently working and whether it could work better. The FCA believes that effective competition contributes to ensuring London remains an international centre for insurance. At the launch of (MS 17/2), Christopher Woolard, FCA Executive Director of Strategy and Competition, said: 'Given the size of the wholesale insurance sector and the type of large scale risks it covers, the way it functions can have a wide-ranging impact on the broader economy. If businesses

Law360, London: The decision by the Financial Conduct Authority (FCA) to provisionally fine and ban former fund manager, Neil Woodford, has sent a lesson to companies across the finance sector that the star status of some senior managers is up for review in London.

Law360, London: The Financial Conduct Authority (FCA) said on 27 February 2025 it has abolished the requirement for firms to have Consumer Duty board champions and will implement around 50 other growth proposals shortly.

Law360, London: A London court on 10 December 2024 began a judicial review of the Financial Conduct Authority's (FCA) decision not to rethink its treatment of consumers blocked from a bank mis-selling redress scheme after a challenge brought by a cross-party group of parliament.

Nikhil Rathi, Chief Executive of the Financial Conduct Authority (FCA) has written to Dame Meg Hillier MP Chair, House of Commons Treasury Select Committee. In the correspondence, dated 13 November 2024, Rathi addresses the impact of the Court of Appeal judgment in Hopcraft v Close Brothers Ltd, Johnson v Firstrand Bank Ltd, and Wrench v Firstrand Bank Ltd, on motor finance and other markets. Rathi also summarises FCA’s response, its historic work on motor finance and its review of discretionary commission arrangements (DCAs) in motor finance announced in January 2024. Rathi will appear before the Treasury Select Committee in December 2024.

The Financial Conduct Authority (FCA) updated its UK EMIR reporting guidance to include final validation rules and XML schemas supporting minor amendments to the derivatives reporting framework. These materials relate to Technical Standards set to apply from 26 January 2026 and are intended to assist firms in preparing for implementation.

The Financial Conduct Authority (FCA) has updated its webpage on a Hampshire-based independent financial adviser charged with multiple fraud offences. In a 28 November 2025 update, the FCA says it has brought an additional charge of fraud by abuse of position against Mrs Lisa Campbell, an independent financial adviser based in Hampshire. Campbell, who has pleaded not guilty, is facing allegations in ongoing proceedings at Portsmouth Crown Court.

The Financial Conduct Authority (FCA) has announced changes to its standard turnaround times for reviewing and processing listing transactions during the Christmas and New Year period, between the dates of 18 December 2023 to 2 January 2024, inclusive. The FCA advises those significantly affected to contact them to discuss an appropriate solution, and they will prioritise the cases and hearings where the deadlines are outside of the control of the issuer.