Financial Conduct Authority

News & Analysis as of

FCA releases new handbook instruments

FCA has published two new handbook instruments: - the Fees (FEES) (Alternative Dispute Resolution Competent Authority) (Financial Ombudsman Service) (FOS) Instrument 2015 inserts provisions on the FOS alternative dispute...more

FCA publishes consumer credit rules and guidance

FCA has issued a policy statement in response to its consultation on proposed changes to its consumer credit rules and guidance, as well as publishing the final rules and guidance. The changes made to Threshold Conditions,...more

FCA publishes insurance add-ons rules and guidance

FCA has issued a policy statement following its consultation on rules banning opt-out selling across financial services and improving information provided to customers buying general insurance add-ons. In addition FCA has...more

FCA fines firm for failings over Keydata products

FCA has fined independent financial adviser firm John Joseph Financial Services Limited (JJFS) £20,000 for failings relating to the sale of products offered by the now dissolved Keydata Investment Services Limited (Keydata)....more

FCA announces fall in complaints

FCA has announced a decrease in complaints received between January and June 2015 of 2.1% compared to the previous six months. This has largely been driven by the fall in PPI-related complaints. However, complaints about...more

LMA updates SIMR guidance

LMA has updated its guidance clarifying the SIMR for its members. This update follows the publication of the final FCA and PRA rules....more

FCA Publishes New Supervisory Approach for Regulated Firms in UK

On September 18, the UK Financial Conduct Authority (FCA) published two papers with new guidance (the “Guides”) regarding how it will supervise different types of UK regulated financial services firms in the future. ...more

FCA and PRA consult on ring-fencing guidance

FCA and PRA are consulting on their approach to implementing ring-fencing and ring-fencing transfer schemes (RFTS)...more

FCA updates supervisory model

FCA has outlined changes it is making to its supervisory model. Changes include how it will classify firms, moving away from C1-C4 conduct categories in favour of two categories for supervisory purposes...more

FCA appoints COO

FCA has appointed Georgina Philippou as Chief Operating Officer (COO). The appointment completes FCA’s executive committee....more

FCA fines and bans former Keydata FD

FCA has published its final notice fining Craig McNeil, former Financial Director (FD) of Keydata Investment Services Limited (Keydata), £350,000 and banning him from carrying out any significant influence functions for any...more

Upper Tribunal dismisses FCA allegations of incompetence

PRA and FCA The Upper Tribunal has clarified its decision in the case of Timothy Alan Roberts and Andrew Wilkins of Catalyst Investment Limited as reported in FReD 14 August 2015. FCA has, as a result, clarified the Tribunal...more

Corporate and Financial Weekly Digest - Volume X, Issue 37

SEC/CORPORATE - SEC Advisory Committee on Small and Emerging Companies Makes Recommendations - On September 23, the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies (Advisory...more

FCA publishes consumer credit guides

FCA has published guides to help firms that are applying for permission to carry on a consumer credit regulated activity on various parts of the application form, specifically: - the application process; - the...more

Orrick's Financial Industry Week in Review

CFTC Announces Proposal to Amend the Definition of "Material Terms" - On September 10, the U.S. Commodity Futures Trading Commission Division announced that it will publish in the Federal Register a proposed amendment to...more

Antitrust Matters - September 2015

Antitrust investigations are no longer limited to a nation’s borders, or even to a region. Enforcers are more and more sharing information and coordinating their investigative efforts as they strive to uniformly enforce the...more

FCA Announces Changes to GABRIEL

On September 14, the Financial Conduct Authority (FCA) published an update announcing changes to GABRIEL (Gathering Better Regulatory Information Electronically), its online reporting, data validation and filing portal....more

FCA publishes Handbook guide

FCA has published a reader’s guide to the new-look FCA Handbook, giving information on its structure and content....more

FCA feeds back on PAD

FCA has published a feedback statement following its call for input on how it should formulate the provisional UK list of services, terms and definitions under the Payment Accounts Directive (PAD). Following responses, FCA...more


FCA has created a new welcome page and location for GABRIEL, the online regulatory reporting system for the collection, validation and storage of regulatory data. ...more

FCA reports on pension freedoms

FCA has published its report on the pensions and retirement income market. In July FCA asked for information on: - consumer access to the pension freedoms; - financial advice requirements and the treatment of...more

SRA adopts consumer credit proposals

The SRA Board has adopted proposals for consumer credit regulation for solicitors. The proposals are that solicitors should be able to carry out certain consumer credit activities under SRA authorisation as long as their...more

FSCC publishes response to clone firm complaint

FSCC has published its findings following an investigation into a complaint against FCA. The claimant alleged: - the warning system on the Financial Services Register was insufficient to prevent investments being lost to...more

UK Financial Conduct Authority Regulation Round-Up

The FCA, in its September Regulation Round-up, outlined recent changes to its supervisory model. The new strategy aims to take a more holistic approach to the classification of firms, focusing increasingly on how markets work...more

Corporate and Financial Weekly Digest - Volume X, Issue 36

BROKER-DEALER SEC - Extends Specified Temporary Relief Related to Security-Based Swaps - On September 15, the SEC issued an order extending temporary exemptions and exceptions from compliance with certain...more

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