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The FCA has secured High Court undertakings to ensure that HTX (formerly Huobi), a global crypto exchange, will not knowingly promote cryptoasset services unlawfully to UK consumers. The FCA took legal action against HTX in October 2025 for breaking UK financial promotion rules. HTX had failed repeatedly to engage with the FCA. Following the commencement …
Restrictions have been placed on 6 unregulated lenders, known as Annex 1 firms, after the FCA raised concerns about their anti-money laundering policies, controls and procedures while assessing their applications. The restrictions were imposed by the FCA on each firm’s request and limit their ability to take on new customers or do new business with …
The FCA has banned Jeffrey Dawkins, the former chief executive of Vector Wealth Ltd, after he dishonestly acted as a front for a disqualified director using the company to sell high-risk bonds. Mr Dawkins has also been fined nearly £270,000. In 2019, Mr Dawkins sold Vector Wealth to a disqualified director who described himself as …
Speech by Sarah Pritchard, deputy chief executive, at Investment Association Annual Dinner 2026. Reform: more than writing rulesIn this sector, we’re just past peak rule making. The scale of change has been significant – and deliberate.But we’re not done yet.We want to see growth that benefits consumers, supports competitiveness and spurs innovation.Building a stronger retail …
Jessica Rusu, FCA chief data, information and intelligence officerat Bloomberg’s UK Policy Series. The Mills ReviewThat is why we commissioned the Mills Review, published in July, focused on how AI could reshape retail financial services by 2030.Some developments we anticipated are already emerging, including the transition towards agentic finance, such as the launch of Meta’s …
On 14 October 2026, Jarvis Investment Management Limited (Jarvis Investment) entered special administration. Adam Stephens and Philip Hemming of S&W Partners LLP were appointed as special administrators. Jarvis Investment (FRN 116413) is FCA authorised and regulated to provide wealth management services. On 16 September 2022, Jarvis Investment agreed to a voluntary requirement with the FCA, …
On 15 October 2026, ePayments Systems Limited (EPS) entered special administration. Mark Boast and Allister Manson of Opus Restructuring LLP (Opus) have been appointed as joint special administrators. EPS is authorised by the FCA to issue e-money under the Electronic Money Regulations 2011 (EMRs).See details on the Financial Services Register.Who to contactThe special administrators are …
The FCA has reviewed its regulatory action against individuals whose convictions have recently been overturned by the Court of Appeal.As these convictions formed the basis on which the FCA took its action, we have revoked the bans of Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar and removed the associated Final Notices from FCA …
The Upper Tribunal has confirmed it will hear the legal challenges to our motor finance compensation scheme between 16 to 26 February 2027. The scheme was challenged by 3 lenders – Volkswagen Financial Services, Mercedes Benz Financial Services, and Crédit Agricole Auto Finance – and by Consumer Voice, represented by Courmacs Legal. The scheme is …
The FCA has conducted a major operation to disrupt a suspected organised criminal group for engaging in insider dealing and money laundering. On 13 October, 3 individuals were arrested following a joint operation by the FCA and the National Crime Agency (NCA). More than 100 FCA and NCA staff took part in searches at 5 …
Two people who worked at financial advice firms have pleaded guilty to fraud after 4 clients lost £2m. Kerry Nelson, the director of Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited, and Jacqueline Stephens, the firms’ business operations manager, admitted all charges brought by the FCA at Portsmouth Crown Court. They admitted defrauding …
The FCA has conducted a major operation to disrupt a suspected organised criminal group for engaging in insider dealing and money laundering. On 13 October, 3 individuals were arrested following a joint operation by the FCA and the National Crime Agency (NCA). More than 100 FCA and NCA staff took part in searches at 5 …
Two people who worked at financial advice firms have pleaded guilty to fraud after 4 clients lost £2m. Kerry Nelson, the director of Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited, and Jacqueline Stephens, the firms’ business operations manager, admitted all charges brought by the FCA at Portsmouth Crown Court.They admitted defrauding clients …
The FCA has set out clearer expectations for asset managers about long-term investments, such as property. This will help give the market more confidence to invest in funds that support private markets.The new rules mean that investors will have to give 90 days’ notice to access their funds but will be more certain that they …
The FCA Board has appointed Liam Coleman as chair of the Financial Ombudsman Service, with the approval of the Treasury. Liam will take up the permanent role on 10 October 2026 for a 3-year term, having served as interim chair for the last year.Ashley Alder, chair of the FCA, commented: ‘Liam has brought strong leadership …
Corporate finance firms help businesses raise funding and implement strategic transactions, supporting investment and growth.This brings responsibility: clients need to be able to trust that firms will act with integrity and manage any conflicts of interest. That trust underpins effective wholesale markets activity.In our Regulatory Priorities Report, we said we would assess corporate finance firms’ …
Speech by Jon Relleen, director of infrastructure and exchanges, at the Reform of the UK Public and Private Capital Markets Summit 2026. The Economic Secretary to the Treasury has discussed the contribution of UK markets to economic growth.I want to build on that by talking about the FCA’s role in reforming capital market rules.The headline …
Just over a week ago, we received the incredibly sad news that a whistleblower, Simon Andriesz, who we had been in contact with over many years, had died. We’ve shared our condolences, and our thoughts are with his family and loved ones.We’re often in contact with people in challenging circumstances.They may be sharing information about …
Speech by Lucy Castledine, director of consumer investments, at the 2026 Investor Summit. Speaker: Lucy Castledine, director, consumer investmentsEvent: Investor Summit 2026, LondonDelivered: 18 September 2026Note: This is the speech as drafted and may differ from the delivered versionReading time: 7 minutesKey points:How the FCA is supporting growth, innovation and wider access to investments.Why a …
On 24 September 2026, IMFP and IMA entered administration. Robert Goodhew and Geoff Bouchier of Kroll Advisory Limited were appointed joint administrators for both firms. The joint administrators are responsible for managing the affairs of the firms during the administration process. They are officers of the court and need to comply with all insolvency law.IMFP …