The Financial Conduct Authority (FCA) has launched a consultation on a proposed industry-wide Consumer Redress Scheme (CRS) for motor finance customers who may have been affected by inadequate disclosure of commission arrangements between lenders and brokers. The scheme proposed in CP25/27 Motor Finance Consumer Redress Scheme covers regulated motor finance agreements—including personal contract purchase (PCP), hire purchase (HP), and conditional sale agreements—entered into between 6 April 2007 and 1 November 2024, where commission was payable by the lender to the broker. It is intended to apply to individuals, sole traders, and small partnerships, including agreements from Gibraltar-based firms. The FCA’s review of 32.5 million agreements found widespread failures in commission disclosure, with an estimated 14.2 million agreements (44%) considered unfair. The scheme is designed to provide redress, reduce administrative costs, and protect market integrity. The deadline for responses to the redress scheme proposals is 18 November 2025, with a separate deadline of 4 November 2025 for comments on extending complaint handling timeframes.

The Financial Conduct Authority (FCA) has published Consultation Paper CP26/8 as part of its ongoing reform of the UK public markets framework following the introduction of the UK Listing Rules (UKLR) sourcebook and the Prospectus Rules: Admission to Trading on a Regulated Market (PRM) sourcebook. Among other matters addressed, the consultation paper identifies certain areas where the drafting of the PRM and UKLR does not fully reflect previously consulted upon and finalised policy intent or has created unintended compliance burdens in practice. It proposes amendments seen primarily as clarificatory to the UKLR and PRM sourcebooks.

The Financial Conduct Authority (FCA) has updated it Complaints Commissioner’s final reports webpage by including eight final reports by the Complaints Commissioner on 5 September 2024. The final reports were made by the Complaints Commissioner between 5 August and 22 August 2024.

The Financial Conduct Authority (FCA) has published its Consumer Duty priorities for 2025–2026, outlining how it will oversee firms’ compliance and promote improved consumer outcomes. The focus will be on embedding the Consumer Duty across sectors, strengthening fair value assessments, addressing sector-specific issues and simplifying broader regulatory requirements.

The Financial Conduct Authority (FCA) has published a report entitled ‘Consumer Duty implementation: good practice and areas for improvement’, and a speech by Sheldon Mills entitled ‘Consumer Duty: the art of the possible in a year’. In advance of the 31 July 2024 Consumer Duty implementation deadline for closed products and services, firms are urged to consider the report and to continue to make improvements in line with good practice. Among other issues, the regulator emphasises that improvements are required around fair value assessments. The FCA says it will act where it identifies firms that are delivering poor customer outcomes. It encourages firms to take a risk-based approach to prioritisation where they are struggling to meet the closed products deadline.

The Financial Conduct Authority (FCA) has published findings from its review of firms' approaches to the consumer support outcome under the Consumer Duty.  It identifies good practices in customer support frameworks and areas requiring improvement.

The Financial Conduct Authority (FCA) has published Discussion Paper DP24/2, seeking industry feedback on potential improvements to the UK transaction reporting regime. The paper also explores harmonisation between the transaction reporting regime and other wholesale market reporting requirements supporting market integrity. The transaction reporting regime requirements are contained in the UK Markets in Financial Instruments Directive (MiFID) framework, including RTS 22 and RTS 23. Responses are sought by 14 February 2025.

The Financial Conduct Authority (FCA) has published a Dear CEO letter on its asset management & alternatives supervisory strategy. The interim update discusses setting and testing higher standards; assessments of value and the Consumer Duty; change management; valuation practices for private assets; market integrity and disruption; promoting competition and positive change; and modernising the FCA’s Fund Authorisation process and enabling operation cross border.

The Financial Conduct Authority (FCA) has published a ‘Dear CEO letter’ which sets out the regulator’s current and future priority areas of supervisory focus in relation to mortgage intermediaries over the next two-year period. The FCA states that its key focus is on embedding the Consumer Duty. Other priorities and expectations of firms contained in the letter concern the retention of dormant appointed representatives (ARs), managing conflicts of interest in ARs, the registration of trading names and conditional selling.

The Financial Conduct Authority (FCA) has issued Decision Notices against Neil Woodford and Woodford Investment Management Limited (WIM) for failures in managing the  Woodford Equity Income Fund (WEIF). Both Notices have been referred to the Upper Tribunal. The FCA has decided to impose a £5.89m penalty on Mr Woodford and prohibit him from managing retail investment funds or holding senior roles in authorised firms. This follows the FCA’s findings that he breached Statements of Principle 2 and 6 by failing to perform his controlled functions with due skill, care, and diligence.  The FCA has decided to find WIM £40m for breaching Principle 2 (due skill, care and diligence) of the FCA’s Principles for Businesses.

The Financial Conduct Authority (FCA) has published Decision Notices for Banque Havilland SA and three of its former employees. Banque Havilland, Edmund Rowland and Vladimir Bolelyy have referred their Decision Notices to the Upper Tribunal. David Weller has not referred his Decision Notice to the Upper Tribunal. David Rowland, who has been given third party rights, has also referred all four Decision Notices to the Upper Tribunal.

The Financial Conduct Authority (FCA) has published FAQs on how to complete REP025, for ongoing reporting of complaints and revenue data by principal firms on their appointed representatives (ARs) and introducer appointed representatives (IARs). The FAQs cover include general issues for all firms; complaints made against appointed representatives; and appointed representatives' revenue.