The Financial Conduct Authority (FCA) has issued its updated perimeter report, detailing its regulatory perimeter, which defines the scope of activities it regulates. The report outlines the FCA's strategic and operational objectives, emphasising consumer protection, market integrity, and competition. The FCA's remit is set by the government and parliament through various legislation, including the Financial Services and Markets Act 2000 (FSMA) and the Regulated Activities Order (RAO).

The Financial Conduct Authority (FCA) has issued its second supervisory strategy Dear CEO letter to credit rating agencies (CRAs), building upon previous communications from February 2022 and October 2022, outlining key risks and expectations for the sector over the next two years. The strategy focuses on potential conflicts of interest, location of activities, impact on financial markets and innovation within CRAs. Key FCA supervisory priorities for CRAs revolve around governance and oversight, ratings process and methodologies and operational resilience.

On 18 September 2024 the Financial Conduct Authority (FCA) issued a warning notice to Crispin Odey, proposing to take action against him for breaching Individual Conduct Rule 1 of the FCA's Code of Conduct, which required him to act with integrity. This notice is not the final decision, and Odey has the right to make representations to the Regulatory Decisions Committee (RDC) and subsequently appeal to the Upper Tribunal.

Law360: The Financial Conduct Authority (FCA) has written to the operators administrating self-invested personal pension scheme (SIPPs), warning them in a letter published on 4 November 2024 that it has growing concerns about how they handle pensions money, risking fraudulent payments from these arrangements.

The Financial Conduct Authority (FCA), in collaboration with the Solicitors Regulation Authority (SRA), Information Commissioner's Office (ICO), and Advertising Standards Authority (ASA), has announced coordinated actions to address misleading advertising and excessive fees by claims management companies (CMCs) and law firms handling motor finance claims. Utilising powers under the Consumer Rights Act 2015 and, for the first time, the Digital Markets, Competition and Consumers Act 2024, the FCA has required nine law firms to disclose information about exit fees. Additionally, two FCA-regulated CMCs have agreed to revise their exit fee policies, while two others have committed to ceasing client acquisition and advertising until they demonstrate compliance with FCA rules.

The FCA has launched consultation paper ‘CP24/16: The Value for Money Framework’ to consult on the detailed rules and guidance for a new value for money (VFM) framework (the Framework) for savers invested in default arrangements of workplace defined contribution (DC) pension schemes. Under the proposed Framework, poorly performing schemes will be required to improve or ultimately protect savers by transferring them to better schemes. The deadline for responses is 17 October 2024.

The Financial Conduct Authority (FCA) has updated its TechSprint webpage to note that it is launching a three-month cohort-based TechSprint on the theme of Financial Inclusion, designed to tackle challenges spanning access to financial services as well as issues encountered throughout the consumer journey. The deadline for applications is 13 February 2024.

The Financial Conduct Authority (FCA) has launched High Court proceedings against Concept Capital Group (CCG), Ian Anthony Elliott, Adrian Felix, Ayub Swaibu, Edmund Brew, Ernest Kargbo, Raymondip Bedi, Riverrun Consulting Limited and Gateridge Consulting Limited over an alleged unauthorised investment scheme involving more than £23m in consumer investments in static homes. The FCA alleges that the scheme operated as an unauthorised collective investment scheme and that CCG carried on regulated activities in the UK without the required authorisation or exemption, in breach of section 19 of the Financial Services and Markets Act 2000 (FSMA 2000). It also alleges that the firm issued unauthorised financial promotions (section 21 FSMA 2000) and made false or misleading statements and/or impressions (sections 89 and 90 of the Financial Services Act 2012 (FSA 2012)). The FCA is seeking restitution orders in favour of affected investors, declarations of contraventions, and injunctions to prevent further breaches. These proceedings are at an early stage and no trial date has yet been set.

The Financial Conduct Authority (FCA) has launched Firm Checker, a tool to help consumers avoid scams. In addition to checking if a financial services firm is authorised by the FCA for the services being offered, the FCA says potential customers should also confirm that the contact details match those listed on the Firm Checker.

The Financial Conduct Authority FCA) has launched a new Handbook website, currently available in beta. The updated site retains the structure and content of the existing version but introduces features designed to make it easier for users to navigate and find information, understand connections between FCA rules and compare different versions of Handbook text to track changes over time. The beta site is available alongside the current Handbook, which will continue to be updated as normal. Users are advised to create a new account on the beta site to access features such as favouriting content and signing up for alerts. The FCA has stated that the beta phase will continue while testing and refinements are made, with full launch expected later in 2025.

The Financial Conduct Authority (FCA) has launched a premium finance market study (MS24/2.1) to assess whether people who borrow to pay for motor and home insurance are receiving fair, competitive deals. The FCA states that it will review whether the products represent fair value, how well customers are made aware of their financing options,  the role of commission, and potential barriers to effective competition in the premium finance market. The FCA has requested comments on the scope of the market study by 18 November 2024.

The Financial Conduct Authority (FCA) has published consultation paper CP25/31 proposing the introduction of a UK equity consolidated tape (CT) to enhance capital investment, liquidity and global competitiveness in UK equity markets. The proposed framework would establish regulatory obligations for a Consolidated Tape Provider (CTP) and require trading venues and Approved Publication Arrangements (APAs) to supply data. Responses are sought by 30 January 2026.