Law360, London: Changes to disclosure rules at the Financial Conduct Authority (FCA) will give defendants more insight into its investigations than ever before—though the development might swamp those that cannot afford top legal advisers, lawyers say. The FCA said earlier in November 2024 that it plans to overhaul the way it approaches the disclosure of evidence in the wake of serious failures that led to the collapse of enforcement proceedings against several bankers

Law360, London: The Financial Conduct Authority's (FCA) proposed partial relaxation of the approval process under its senior managers regime as the UK pushes for deregulation could increase exposure among companies to fraud prosecution under another regulatory snag—the offence of failure to prevent fraud, which goes live in September 2025.

Introduction to the FCA’s requirements on information about firms, adviser charging and consultancy charging This Practice Note considers the regulatory framework and guidance in place governing the information that a firm must provide to its clients, regarding its services and remuneration policies, and also regarding adviser and consultancy charging when the firm carries on designated investment business. The Financial Conduct Authority (FCA) has issued rules which require a firm to disclose to its clients details about the firm and its services. A number of these requirements derived from the implementation of provisions contained in the Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID). These are largely contained in the General Provisions Manual (GEN) and the Conduct of Business Sourcebook (COBS). MiFID was replaced by the recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) and the EU Markets in Financial Instruments Regulation (Regulation (EU) 600/2014, OJ L 173, 12.6.2014) (MiFIR) (together the EU MiFID II framework). Both MiFID II and EU MiFIR entered into force on 2 July

Sanctions-related issues may engage several distinct reporting regimes. Depending on the facts, firms may need to consider Financial Conduct Authority (FCA) notification obligations, statutory reporting to the Office of Financial Sanctions Implementation (OFSI) in relation to financial sanctions, the Office of Trade Sanctions Implementation (OTSI), HMRC or another competent authority in relation to trade sanctions, and submitting a Suspicious Activity Report (SAR) to the NCA. This Practice Note sets out the FCA’s reporting requirements relevant to sanctions and its expectations in this regard for firms authorised, registered or otherwise supervised by the FCA (together, firms). It details the requirements for reporting sanctions breaches or suspected breaches and weaknesses in sanctions systems and controls to the FCA. It also covers the FCA's expectations for reporting to the relevant competent authorities and addresses information sharing between these bodies. Finally, it sets out the FCA's financial crime annual reporting requirements (REP-CRIM) related to sanctions. A high-level overview of statutory reporting requirements and links to further reading is provided at the end of this Practice Note. The

Law360: A new reinsurance scheme will reduce the cost of insurance for leaseholders in flats, the Financial Conduct Authority (FCA) has said, as it seeks to bring down premiums that have risen steeply since the Grenfell Tower fire seven years ago.

MLex: UK law firms should not expect to be ‘caught out’ by the Financial Conduct Authority (FCA) when it takes over anti-money laundering (AML) supervision in 2028, the FCA’s Executive Director of Enforcement, Steve Smart, said on 17 September 2026. However, the regulator will be looking to take action against professional enablers, Smart said.

The Financial Conduct Authority (FCA) has published an update on the actions it has taken since its July 2023 cash savings market review, and the work it has done with the largest nine firms on the value they provide. It says the average interest paid on easy access savings accounts rose to 2.11% in June 2024, up from 1.66% when the review was published, with savers an estimated £4bn a year better off as a result. The FCA says its analysis also shows that while firms were benefitting as base rates increased, ‘these benefits were increasingly passed to savers’.

The Financial Conduct Authority (FCA) has announced that a convicted money launderer, ex-solicitor Dale Robert Walker (64), has fully satisfied his confiscation order after being sentenced to 62 days’ imprisonment for previously failing to pay his order. From 2008 to 2011, Walker helped to source land and undertook conveyancing, registration and consultancy services for plots of land being sold as part of an unauthorised collective investment scheme. The scheme ultimately defrauded consumers of over £4.25m.

The Financial Conduct Authority (FCA) has announced that four people have been arrested and search warrants executed in Hackney, Beckenham and Slough as part of a joint investigation with the police into fraud and money laundering.

The Financial Conduct Authority (FCA) has confirmed that several firms have been permitted to recommence their sales of guaranteed asset protection (GAP) insurance, following action by the regulator to improve fair value. To restart sales, firms need to demonstrate that their GAP products provide fair value to customers, in line with FCA rules. Firms that have resumed sales of GAP insurance have done so with materially lower levels of commission being paid out to those selling GAP, improving value for customers.

The Financial Conduct Authority (FCA) has provided an update on its work relating to the administration of Philips Trust Corporation, saying that having considered ‘very carefully’ if it can take action, it has concluded that in this instance it cannot.

The Financial Conduct Authority (FCA) has announced that it has secured the bankruptcy of Avacade directors Lee and Craig Lummis. They failed to satisfy a restitution order and, as a result, on 21 November 2023, the FCA secured bankruptcy orders against them. The Official Receiver (or a trustee in bankruptcy) will investigate the financial affairs of the bankrupts and administer their estates.