HM Treasury has announced the launch of a new Scale-up Unit in Leeds, designed to accelerate the growth of innovative financial services firms. Jointly led by the UK Financial Conduct Authority (FCA) and the UK Prudential Regulation Authority (PRA), the Unit will provide bespoke regulatory support to fast-growing firms across three distinct groups including banks and building societies, insurers and FCA solo-regulated firms. Support for fintech firms is expected to follow in early 2026.
The Unit aims to simplify regulatory navigation, remove barriers to investment and offer firms a clear point of contact for timely responses to regulatory queries and access to expert guidance. It is intended to complement, not replace, existing supervisory and support services. The FCA published a press release and new webpage outlining how the Unit will operate, who it is for and how it differs from existing support services. The PRA also published a new webpage describing the Unit's purpose and sector-specific support, including tailored pages for insurers and banks and building societies. This joint initiative forms part of the government's broader Financial Services Growth and Competitiveness Strategy.
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