Law360, London: The government said on 21 October 2025 that the Financial Conduct Authority (FCA) will become the sole regulator of anti-money laundering (AML) and counter-terrorism financing (CTF) for professional services providers, slashing the supervisory role of the Solicitors Regulation Authority (SRA) and other industry regulators.

Law360: The Financial Conduct Authority (FCA) has said it 'will take time' to consider widespread concerns over its proposals to identify companies or individuals under investigation after lawyers said the move could damage careers.

MLex: The Financial Conduct Authority (FCA) made ‘significant errors in law’ as part of a fraud probe into a lawyer, judges have said, ordering it to reapply for a search warrant against the man. The High Court said that the FCA had not acted in bad faith and did not order the return of devices seized. In its ruling, the High Court cited messages obtained by the FCA from the lawyer, including one that said: ‘No point getting found to have committed fraud.’

This Practice Note explains the Financial Conduct Authority’s (FCA) expectations for trade sanctions and counter-proliferation financing (CPF) systems and controls. It incorporates FCA guidance in the Financial Crime Guide (FCG) 7, multi-firm reviews and the Financial Crime Thematic Review (FCTR) 15. It is particularly relevant to financial services firms which conduct trade finance or project finance, and to insurers, but applies to all firms: • regulated by the FCA under the Financial Services and Markets Act 2000 (FSMA 2000) • supervised by the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs) together, firms. Trade sanctions and CPF are considered together in this Practice Note because the FCA expects firms’ systems and controls to address both trade sanctions risks and, where relevant, the risk that their services may support weapons proliferation through prohibited trade. This reflects the FCA’s view that some sanctions regimes are aimed at deterring the proliferation and use of chemical weapons,

Law360, London: The Office for Professional Body Anti-Money Laundering Supervision (OPBAS), which is housed within the Financial Conduct Authority (FCA), told legal and accountancy supervisory bodies on 8 September 2025 that suspicious activity reports (SARs) they submit could be improved by setting out an action plan.

The Financial Conduct Authority (FCA) has published an update on action it has taken, alongside partners, against illegal peer-to-peer crypto trading in London. Working with HM Revenue & Customs (HMRC) and the Metropolitan Police Service, on 10 September 2026 the FCA targeted three premises suspected of illegal peer-to-peer crypto trading, with cease and desist letters issued at all three premises, requiring traders to stop any suspected illegal crypto businesses.

The Financial Conduct Authority (FCA) has updated Annex 2 to CP24/27 to align with the questions in the rest of its consultation paper. Responses are sought by 13 February 2025, with plans to consult on detailed requirements and draft rules by mid-2025.

The Financial Conduct Authority (FCA) updated its Conduct Rules webpage to address the scope of the sixth individual conduct rule (ICR6) introduced under the Consumer Duty. The update confirms that all Conduct Rules staff must act to deliver good outcomes for retail customers where their firm’s activities fall within the Duty’s remit, reinforcing expectations first introduced in July 2023.

The Financial Conduct Authority (FCA) has updated the ‘next steps’ section of its ‘Equities consolidated tape’ (CT) webpage.  In the ‘next steps section, the FCA notes that to inform its cost benefit analysis of consultation proposals, the regulator is  surveying a representative sample of potential users of an equities CT, asking about the demand for and use of an equities CT.

The Financial Conduct Authority (FCA) has updated GC25/3: Primary Market Bulletin No. 58 following the identification of clerical errors in certain draft guidance notes released as part of its consultation on proposed changes to the Knowledge Base. The corrections relate to Draft Procedural Notes 903 and 908 and Technical Notes 305, 321, 522, 623, 626, 629 and 635, which displayed incorrect blackline deletions unrelated to proposed amendments. Updated versions correcting these blackline errors have been published and must be used for the consultation closing 21 November 2025. In addition, errors were found in Technical Note 602.5, including the omission of a heading deletion and a missing phrase in section (b), as well as a typographical error in section (d). An updated version of TN 602.5 has also been released for the consultation ending 5 December 2025. The FCA apologises for these initial publication errors and confirms that the corrected documents are now accessible via the updated links.

The Financial Conduct Authority (FCA) has published its updated policy on Unacceptable Behaviour, broadening the definition of inappropriate conduct and clarifying potential responses. The Policy sets out what the FCA considers to be unacceptable behaviour, and the actions it might take if it considers a particular interaction to be unacceptable.

The Financial Conduct Authority (FCA) has updated its AI Live Testing initiative to announce that applications are now open. Firms interested in participating can apply until 20 August 2025.