The Financial Conduct Authority (FCA) has published a report celebrating the 10th anniversary of FCA Innovate, which supports effective competition andhelps firms develop innovative products and successfully navigate the financial regulatory landscape. The FCA has also published a speech by Jessica Rusu, FCA chief data, information and intelligence officer, delivered at an FCA Innovation 10th anniversary event.

The Financial Conduct Authority (FCA) has censured the auditor Macintyre Hudson LLP (MHA) for failing to prepare client assets reports to the required standard. The FCA’s investigation found that between 2015 and 2019, MHA failed to prepare four client assets reports (relating to two firms) to the required standard. It failed to report 25 breaches of the rules by firms it had audited. These ranged from failings in documentation, to firm’s assets being held alongside client assets.

The chair of the Financial Conduct Authority (FCA), Ashley Alder, has delivered an updated version of a speech he gave in February 2024 discussing the Smarter Regulatory Framework; private finance, non-bank financial intermediation (NBFI) and valuations; retail investments; sustainability disclosure requirements (SDR); and innovation. Noting the FCA’s new international competitiveness objective, Alder said at every point in its decision-making process, the FCA considers the options that could advance its primary operational objectives and weigh up which of them could advance growth and competitiveness.

The Financial Conduct Authority (FCA) has published a speech by its chair, Ashley Alder, on open regulators and open markets, delivered at the UK Mission to the EU. Alder said the FCA’s three primary statutory objectives are fully aligned with an open markets philosophy, and the regulator is committed to finding consistent international responses to challenges that increasingly give rise to cross-border risks, including environmental, social and governance (ESG), fintech, and non-bank financial intermediation (NBFI).

The Financial Conduct Authority (FCA) has announced changes to its standard turnaround times for reviewing and processing listing transactions over the Christmas and New Year period, from 23 December 2024 to 2 January 2025, inclusive.

The Financial Conduct Authority (FCA) has announced that it has launched criminal proceedings against Guy Flintham for committing fraud by false representation and for carrying out regulated activity without authorisation. The FCA alleges that between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false representations to persuade them to invest approximately £19m in an investment scheme operated by him.

The Financial Conduct Authority (FCA) has charged Lisa Campbell, the sole director of Campbell & Associates Independent Financial Advice Ltd, with multiple criminal offences. These charges include fraud by abuse of position under sections 1 and 4 of the Fraud Act 2006 (6 offences), and providing false or misleading information to the FCA under section 177 of the Financial Services and Markets Act 2000 (FSMA 2000). Between April 2013 and May 2023, Campbell allegedly misappropriated over £2.3m from clients, including family members, friends, and a vulnerable child. She is accused of creating false documents to reassure them that their money had been invested. The firm provided financial advice on investments, insurance, and pensions but was not authorised to hold or control client money.

The Financial Conduct Authority (FCA) has announced that it has charged Henrik Schliemann with nine criminal offences, including fraud by abuse of position, fraud by false representation and forgery. Schliemann was a director of a merchant bank regulated by the FCA, responsible for financial matters and held authority over company accounts. The FCA alleges that Schliemann transferred around $1.45m and €3.1m from company accounts to his own and additionally paid himself over £1.3m in excess dividends.

The Financial Conduct Authority (FCA) has charged John Dobbs with three counts of conspiracy to commit fraud by false representation. It alleges that Dobbs, along with Bruce Rowan, David Simmons, Robert Sweeney, and Justin Russell, was involved in an unauthorised investment scheme that defrauded investors of £3.9m. The FCA alleges that between 1 May 2015 and 23 July 2019, Dobbs conspired to defraud UK investors through two companies, Hanover Merchant Capital UK Ltd and Liberty House Capital Ltd, to make false representations about investment of money, profit generation, and the security of capital. Dobbs is scheduled to appear before Southwark Crown Court on 25 March 2025.

The Financial Conduct Authority (FCA) has charged the first individual with running a network of illegal crypto ATMs, which processed £2.6m in crypto transactions between December 2021 and September 2023. The charges against Olumide Osunkoya are the FCA's first criminal prosecution relating to unregistered crypto asset activity under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692.

The Financial Conduct Authority (FCA) has charged John Dance, who was principal partner at WealthTek LLP (formerly known as Vertus Asset Management LLP) which is a wealth management firm, with 9 criminal offences, including multiple counts of fraud and money laundering. The charges are: three counts of fraud by abuse of position under sections 1 and 4 of the Fraud Act 2006, three counts of fraud by false representation under sections 1 and 2 of the Fraud Act 2006, and three counts of converting or transferring criminal property under section 327(1) of the Proceeds of Crime Act 2002.

The Financial Conduct Authority (FCA) has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with multiple counts of conspiracy to commit fraud by false representation. Sweeney and Simmons are also charged with money laundering. The FCA alleges that they ran an unauthorised investment scheme which defrauded investors out of £3.9m.