The Financial Conduct Authority (FCA) has published summary data on solo-regulated firms that entered, and those that left, the temporary permissions regime (TPR).

The Financial Conduct Authority (FCA) has published a report reviewing the use of its powers under Article 23D of the UK Benchmarks Regulation for three-month synthetic sterling LIBOR. The FCA has also published a final reminder to firms before 3-month synthetic sterling LIBOR setting ceases permanently on 28 March 2024, to continue their active transition efforts where they have outstanding sterling LIBOR exposure.  The FCA issues a further reminder of the expected cessation of US dollar synthetic LIBOR at end-September 2024.

The Financial Conduct Authority (FCA) has called for improvements to the design of digital loan application processes, following a review that found some platforms lack essential features that support informed consumer decision-making. In particular, the FCA observed that some online and in-app journeys exclude key information—such as cost details—and lack ‘positive friction’, which can help consumers pause and reflect before proceeding. While some firms were found to use simplified language and explainer videos to aid understanding, others risked allowing users to bypass important information. The FCA has shared examples of good and poor practice with lenders and expects firms to review and enhance their digital platforms to better support customers. This work forms part of the FCA’s broader strategy to help consumers navigate their financial lives and ensure that digital services meet the standards set by the Consumer Duty.

The Financial Conduct Authority (FCA) has published a blog post written by head of innovation services,  Colin Payne, outlining the results of its AI Sprint event. The FCA convened 115 industry experts to examine the impact and practical applications of artificial intelligence (AI) within the UK financial services sector. Payne describes how discussions at the event focused on several key themes. Firstly, a strong emphasis was placed on building trust in AI technologies, which is regarded as essential for ensuring both safe innovation and enhanced consumer confidence. Additionally, expert opinions highlighted that firms seek clarity and guidance on applying existing outcomes-based regulatory frameworks rather than the introduction of entirely new ones—a perspective also supported by FCA chief executive Nikhil Rathi in communications with the Prime Minister. Future challenges discussed included AI bias, sophisticated impersonation scams, and sustainable AI data centres.

The Financial Conduct Authority (FCA) has published a blogpost by its deputy chief executive and co-chair of the Financial Stability Board (FSB), Sarah Pritchard, outlining the UK’s approach to implementing the FSB’s recent recommendations on non-bank leverage. The post highlights the importance of ensuring that non-bank financial institutions—such as pension funds, insurers and hedge funds—remain resilient under varying market conditions. The FCA supports the FSB’s proposals to enhance risk monitoring and market transparency and is reviewing its data collection practices to ensure timely and relevant insights. It is also engaging with international counterparts to promote consistent oversight across jurisdictions, recognising the cross-border nature of non-bank activity. The FCA notes that while leverage is a key feature of capital markets, it must be monitored effectively to mitigate potential systemic risks.

The Financial Conduct Authority (FCA) has published a blogpost by Jamie Bell urging firms to accelerate preparations for the UK's transition to T+1 settlement on 11 October 2027. Under T+1, certain trades must settle one business day after execution. The change is intended to enhance market efficiency, reduce risk and align with international standards.

The Financial Conduct Authority (FCA) has published its business plan for 2024-25—the final year of its three-year strategy to achieve better outcomes for consumers and markets. The FCA has also published its approach to consumers, setting out how it uses its powers and tools in line with its consumer protection objective; its approach to supervision and regulatory oversight; and its approach to competition.

The Financial Conduct Authority (FCA) has published changes to consultation paper CP24/6, Regulatory fees and levies: rates proposals for 2024/25. The FCA published CP24/6 in April 2024. Following feedback received, it has expanded Table 3.3 to include fee-blocks AB01, BU01, B.1, B.2, B.5, C.7, C.9, D.1, D.2, E.2, G.2, G.3, G.10, G.15, G.25, G.30, J1, J2, and J3. Table 3.3 shows the data the FCA used to estimate 2024/25 periodic fee-rates.

The Financial Conduct Authority (FCA) has published a primary market checklist for issuers preparing a transfer of listing circular for FCA approval under the UK Listing Rules (UKLR). The checklist covers issuer and sponsor or adviser details and the anticipated transfer date required under UKLR 21.5.8. It also addresses the information set out in UKLR 21.5.12, including the background and reasons for the proposed transfer, any related changes to the issuer’s business, the effect of the transfer on its obligations under the listing rules and how any new eligibility requirements will be met. The checklist also requires confirmation where individual requirements are marked as not applicable. FCA guidance provides that non-applicable items should be identified on the signed checklist rather than through a separate confirmation letter.

The Financial Conduct Authority (FCA) has published Consultation Paper CP25/5 outlining proposed minimum standards for cryptoasset firms operating in the UK. These proposals aim to align crypto firms with existing requirements for traditional financial institutions, including rules on operational resilience, governance and financial crime prevention. The FCA emphasises that while the proposals will not eliminate the inherent risks of crypto investments, they will help establish consistent expectations and improve consumer confidence in the sector.

The FCA has published consultation paper CP26/14: ‘Changes to information flows for UK equity IPOs’ seeking views on proposals to amend some of the rules in the Conduct of Business sourcebook on the publication of research during the equity IPO process.

The Financial Conduct Authority (FCA) has published consultation paper (CP24/17): Enhancing the National Storage Mechanism (NSM). The FCA want to introduce more comprehensive data requirements to improve the NSM’s functionality, ie specifically the FCA is looking to expand the requirements for the filing of legal entity identifiers (LEIs) and to update some of the headline information that is used to categorise regulated information. This will make it easier for NSM users to find information submitted by regulated market issuers. The FCA also propose a requirement for Primary Information Providers (PIPs) to use a standard method for submitting information to the NSM. Responses are sought by 27 September 2024.