The Financial Conduct Authority (FCA) has written to 20 of the largest advice firms requesting information about their delivery of ongoing services for which their clients continue to be charged after advice has been given. The FCA asks if firms have assessed their ongoing services in response to the introduction of the Consumer Duty, and whether they have made any changes as a result. The FCA is collecting this information to assess what, if any, further regulatory work it may undertake in this area and anticipates providing a further update having considered the firms’ responses.

The Financial Conduct Authority (FCA) has announced that it has begun legal proceedings against global crypto exchange HTX (formerly Huobi) for illegally promoting cryptoasset services to UK consumers. This is the first time the FCA has taken enforcement action against a cryptoasset firm alleged to be illegally marketing its products to UK consumers.

The Financial Conduct Authority (FCA) has launched targeted action against social media influencers who promote financial products and share insights and advice with their followers, who may be touting financial services products illegally. The FCA has already taken action against nine individuals and finfluencers for promoting an unauthorised trading scheme.

The Financial Conduct Authority (FCA) has initiated criminal proceedings against Anthony Hay, Laura Hay, Tim Stewart, Premier Finance GB Ltd, and Proserv GBR Limited for alleged unauthorised business activities. The directors of both companies, Anthony Hay and Laura Hay, and the compliance manager, Stewart, have been accused of consenting, conniving, or neglecting to act in relation to the misconduct and are scheduled to appear before Westminster Magistrates' Court on 7 November 2024.

The Financial Conduct Authority (FCA) has taken action against Darren Reynolds and Andrew Deeney of Active Wealth (UK) Ltd for dishonest pension transfer advice. The FCA has imposed a prohibition order and a financial penalty of £397,400 in its Final Notice to Deeney; Deeney reached a Stage 1 settlement with the FCA and qualified for a 30% discount. In a Decision Notice, which Reynolds has referred to the Upper Tribunal, the FCA imposes a financial penalty of £2,212,316 and prohibition order. The FCA has added the latest actions to its webpage: British Steel Pension Scheme—Our approach to enforcement.

The Financial Conduct Authority (FCA) has, for the first time, used its powers under the Electronic Money Regulations 2011 to take enforcement action against a firm enabling cryptoasset trading. CB Payments Limited (CBPL), part of the Coinbase Group, has been fined £3,503,546 by the FCA for repeatedly breaching a voluntary requirement that prevented the firm from offering services to high-risk customers whilst it addressed issues with its financial crime control framework. The firm agreed to resolve the matter and qualified for a 30% discount on its fine.

Background to telephone and electronic communication recording requirements This Practice Note explains the Financial Conduct Authority’s (FCA) rules for recording telephone conversations. It is relevant to investment firms, including banks, stockbrokers, investment managers (including collective investment scheme managers and hedge fund managers) and financial and commodity derivative firms. The recording regime is primarily aimed at detecting and preventing market abuse. In March 2008 the FCA’s predecessor, the Financial Services Authority (FSA), published rules on recording telephone conversations and electronic communications (the taping rules). The rules in part implemented parts of the Markets in Financial Instruments Directive (Directive 2004/65/EC) (MiFID) and in particular Article 51 of Commission Directive 2006/73/EC (the MiFID Implementing Directive). The rules were effective from March 2009. Originally the taping rules did not apply to telephone conversations and electronic communications (except emails) made with, sent from or received on a mobile telephone or other mobile handheld electronic communication devices (the so-called mobile phone exemption, formerly FSA COBS 11.8.6(1) R). However the FSA reviewed the mobile phone exemption after 18 months in Consultation

Law360: The Financial Conduct Authority (FCA) told MPs on 31 January 2024 that if banks close branches now without leaving customers access to cash, it will take retrospective action under new powers it receives later this year.

Law360: The Financial Conduct Authority (FCA) said on 28 March 2025 that it has given 12 companies until April 2025 to give targeted support to consumers, an experiment ahead of a new regulatory model that will fill the gap between general guidance and advice for pensions and investments.

The Financial Conduct Authority (FCA) has updated its Listing applications and cancellations webpage with information on retail crypto exchange traded notes (ETNs).

The Financial Services and Markets Bill, as introduced in May 2026, includes provisions that would reform aspects of the UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) supervisory framework. The Bill enables the Financial Conduct Authority (FCA) to assume new supervisory responsibilities under the UK’s AML/CTF regime. The reforms are intended to simplify the existing supervisory framework, strengthen the UK’s defences against illicit finance and support more consistent compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLR 2017).

The Financial Conduct Authority (FCA) has said it will conduct a review into how firms are acting to understand and respond to the needs of customers in vulnerable circumstances. The review will look at firms’ understanding of consumer needs, the skills and capability of staff, product and service design, communications and customer service, and whether these support the fair treatment of customers in vulnerable circumstances. The FCA will share its findings by the end of 2024.