The Financial Conduct Authority (FCA), with the support of relevant regional police and other forces, have conducted two operations, involving unauthorised debt and claims management activities in the West Midlands, Scotland and elsewhere resulting in two arrests. The FCA’s investigations remain ongoing.

The Financial Conduct Authority (FCA) has published a press release and issued a First Supervisory Notice (FSN) to Strowz Ltd, exercising its own-initiative powers under section 55L(3)(a) of the Financial Services and Markets Act 2000 (FSMA 2000) to restrict the firm's ability to perform regulated activities and to manage its assets. This regulatory intervention follows the FCA’s ‘serious concerns’ regarding Strowz Ltd’s failure to adhere to minimum requirements that firms need to meet to carry on regulated activities. The issues identified included inadequate financial systems for safeguarding client money, a lack of proper controls to prevent the commingling of client funds with the firm’s own funds, and a failure to adequately notify the FCA regarding important financial transactions and bank account disclosures.

The Financial Conduct Authority (FCA) has published a press release and issued a First Supervisory Notice (FSN) to Direct Trading Technologies UK Ltd (DTT), exercising its own-initiative powers under sections 55J and 55L of the Financial Services and Markets Act 2000 (FSMA 2000) to vary DTT’s Part 4A permission to perform regulated activities and impose requirements on DTT in order to restrict its access to its assets. The FCA’s regulatory intervention follow its concerns regarding DTT’s inadequate financial crime systems and controls, poor governance and oversight, and its failure to be open and cooperative with the FCA and appropriately disclose information. The FCA adds that the information provided to the firm’s auditor appears to be inconsistent with information separately provided by the firm to the FCA. DTT is required to ensure that all open trading positions have been closed and investor money is set aside for customers. The firm can no longer offer regulated services, including trading.

The Financial Conduct Authority (FCA) has provided a detailed explanation of its new email management policy, set to take effect from 1 April 2025. The policy mandates that emails in staff inboxes will be deleted after one year, with important communications being saved to a central shared drive. This initiative aims to enhance data management, ensure compliance with the General Data Protection Regulation (GDPR) and the Data Protection Act, and improve regulatory efficiency. Regulatory records will still be retained for 25 years, and operational processes using shared mailboxes are exempt from this policy. The FCA has provided safeguards, including extended access to deleted emails for select staff if necessary, and has assured that the policy will not reduce transparency or hide information. The policy aligns with the record-keeping standards expected of regulated firms and is supported by detailed guidance and practical workshops for staff.

The Financial Conduct Authority (FCA) has announced an update to Consultation Paper CP25/27 on the Motor Finance Consumer Redress Scheme, noting that its data room will remain operational until 9 December 2025, following the extension of the consultation deadline to 12 December 2025. The FCA notes that the data room provides controlled access to underlying data used in the FCA’s analysis of loss, specifically relating to the Annual Percentage Rate (APR) adjustment remedy and high commission arrangements, and that it is providing access to the data room to stakeholders skilled in reviewing large volumes of data and modelling for the limited purpose of being able to understand and respond meaningfully to the consultation. Access is limited to individuals with relevant expertise who must submit a request to motordataroom@fca.org.uk detailing their credentials and sign a confidentiality agreement prior to access. The FCA emphasised that the data room is not intended for calculating individual firms’ redress liabilities, which must be determined using their own data.

The Financial Conduct Authority (FCA) has announced an extension to the deadline for responses to its consultation paper CP25/27 on a proposed redress scheme for consumers affected by discretionary commission arrangements (DCA) in motor finance. The deadline for responses has been extended to 12 December 2025 to allow stakeholders more time to analyse extensive data and respond fully to the consultation. The FCA expects to publish final rules in February or March 2026.

The Financial Conduct Authority (FCA) has extended the deadline on the prudential reforms discussion chapter of consultation paper CP26/28: The UK AIFM Regime to 22 October 2026. It has also extended the deadline of CP26/26: Fund Reporting for Asset Management Entities (FRAME) to 22 October 2026.

The Financial Conduct Authority (FCA) has extended by two weeks the feedback period for consultation paper CP24/2: Our Enforcement Guide and publicising enforcement investigations—a new approach. Responses are now sought by 30 April 2024.

The Financial Conduct Authority (FCA) has extended the pause to the deadline for motor finance firms to provide a final response to customer complaints regarding discretionary commission arrangements (DCAs) until 4 December 2025. The FCA says it will set out next steps in its review into the past use of DCAs in May 2025, by when it expects to have completed its analysis and assessed the outcome of the Barclays Partner Finance judicial review of the Financial Ombudsman Service’s decision to uphold a complaint relating to its use of a DCA, as well as other relevant cases in the Court of Appeal.

The Financial Conduct Authority (FCA) has issued a policy statement PS24/18 on new rules in the Dispute Resolution: Complaints (DISP) sourcebook, specifically addressing motor finance complaints that do not involve discretionary commission arrangements (non-DCAs). The FCA has extended the time firms have to respond to complaints regarding non-DCAs. The extension, now set for 4 December 2025, comes in light of the Court of Appeal’s judgment in the cases of Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd, and Hopcraft v Close Brothers Ltd.

The Financial Conduct Authority (FCA) has extended its recognition of the Lending Standards Board (LSB) Standards of Lending Practice for business customers until 10 February 2026.

Law360, London: The Financial Conduct Authority (FCA) could be forced to walk a thin line between protecting consumers on the one hand and upholding the government's economic growth agenda on the other—as it draws up a response to a landmark 'super complaint' into the insurance sector.