Regulus — The global regulatory broadcast network

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European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy Conduct & Consumer ✓ 15 claims 04 Nov 2026

EU Commission opens call for evidence on DSA advertising repository guidelines

The European Commission is gathering early feedback to shape technical guidelines on how very large online platforms and search engines must design their advertising repositories under the Digital Services Act. This item covers what the call for evidence asks, the timeline through to publication in 2028, and what the guidelines are meant to fix about ad library searchability and transparency.

The call for evidence opens 4 November 2026 and closes 2 December 2026.
Guidelines will cover searchability, targeting transparency and accessibility of advertisement content in VLOP and VLOSE repositories.
Article 39 requires VLOPs and VLOSEs to maintain publicly accessible repositories of advertisements shown on their services.
A targeted public consultation on a draft follows in 2027, with publication planned for the second quarter of 2028.
The guidelines are issued under Article 39(3) after consultation with the European Board for Digital Services, researchers and the public.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 24 claims 03 Nov 2026

FCA backs car finance settlement offers while compensation scheme stays suspended

The FCA has set out what it expects from motor finance lenders that want to make early settlement offers to customers owed redress while the compensation scheme is partially suspended pending court challenges. Barclays Partner Finance will offer some customers now. The regulator published a mandatory consumer factsheet and survey evidence that most complainants want the choice to settle sooner.

Lenders may make settlement offers now, but the FCA expects offers of no less than a customer would receive under the compensation scheme.
Accepting an offer is final: customers keep any money even if courts later imply less, but cannot claim more, and offers cannot be taken to the Financial Ombudsman Service.
Firms must give customers an FCA factsheet and are expected to notify the regulator before making offers; the FCA will list participating lenders online.
Barclays Partner Finance has confirmed it will make settlement offers to some customers owed compensation.
The scheme remains partially suspended, with legal challenges due to be heard between 16 February and 3 March 2027; firms must keep progressing complaints meanwhile.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Conduct & Consumer ✓ 18 claims 02 Nov 2026

Banks urged to treat business succession as a marketing growth lever

This piece from ABA Banking Journal argues that banks should use internal data to identify business clients nearing ownership transition and build targeted marketing campaigns around succession, rather than treating it purely as relationship risk. It sets out criteria for identifying exposure, engagement tactics and metrics for measuring success.

More than 2.3 million Baby Boomer-owned businesses are expected to transition ownership over the next decade, according to the article.
The author proposes three screening criteria for banks: owner age 55 or older, industry transferability difficulty, and likelihood of a financing need.
Recommended outreach channels include email campaigns, treasury platform messaging, industry-specific landing pages, guides, webinars and events.
For prospecting beyond existing customers, the article suggests LinkedIn campaigns targeting owners and senior decision-makers plus paid search capturing succession-related research.
Suggested success metrics include meetings generated with business owners, transition-related financing inquiries, acquisition loans booked, deposits retained, wealth management introductions and net-new commercial relationships.

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FINRA Source document ↗

United States FINRA Conduct & Consumer ✓ 10 claims 31 Oct 2026

FINRA records settled disciplinary action against First Citizens Investor Services

FINRA has entered a disciplinary record against First Citizens Investor Services, Inc. under case ID 2024080202401. The published entry confirms a settled action by consent, but the conduct at issue and any sanctions sit in the attached Letter of Acceptance, Waiver, and Consent rather than in the record itself. This briefing reports what the public entry states and flags what it does not.

FINRA's record names First Citizens Investor Services, Inc., CRD 44430, under case ID 2024080202401.
The matter is recorded as a Letter of Acceptance, Waiver, and Consent, document number dae65ab3.
The case entry lists an action date of 10/30/2026 and links to the full AWC as a separate attachment.
The conduct at issue and any sanctions are held in the attached document and do not appear in the public case record.

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FINRA Source document ↗

United States FINRA Conduct & Consumer ✓ 11 claims 30 Oct 2026

FINRA posts settled action against broker Landon Beecham

FINRA has published a disciplinary entry recording a Letter of Acceptance, Waiver and Consent involving Landon Beecham. The public listing carries the case identifiers and action date but not the substantive findings, which sit in an attached document. This item covers what the listing itself establishes and flags how little can be said without the attachment.

FINRA recorded Case ID 2026090290701 against Landon Beecham, CRD 8134707.
The entry is classified as a Letter of Acceptance, Waiver and Consent (AWC), with an action date of 30 October 2026.
The listing references an attached document numbered 52995ea8 that is not reproduced in the metadata.
The published record does not state the conduct, findings or sanctions at issue.

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Securities and Exchange Commission Source document ↗

United States Securities and Exchange Commission Conduct & Consumer ✓ 13 claims 30 Oct 2026

SEC caseload report puts median age of Commission decisions at 1,147 days

The SEC's Secretary has issued the statutory six-month status report on the agency's administrative proceedings caseload for the period to September 30, 2026. It sets out matters pending, instituted and disposed of before the administrative law judges and the Commission, together with the median age of decisions and how many met Rule 900 timing guidelines. The numbers show a sharp rise in new Commission matters and multi-year median decision times.

The Commission disposed of 57 matters during the period, including 51 opinions, and had 88 pending at the end.
Median age at decision for Commission matters was 1147 days, against 1246 and 260 in the prior two periods.
Before the administrative law judges, one matter was pending at the start, none were added, and the single matter was disposed of, leaving none pending.
For SRO matters the Commission decided 10, of which 2 were decided within Rule 900 guidelines, with a median age at decision of 726 days.
Seven stay motions were filed and five decided, with a median age at decision of 32 days.

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International Criminal Court Source document ↗

Global International Criminal Court Conduct & Consumer ✓ 14 claims 30 Oct 2026

Austria gives EUR 200,000 to ICC victims trust fund for 2026

A short ICC press release records Austria's 2026 voluntary contribution to the Trust Fund for Victims, breaking down how the money will be split and noting the country's funding history since 2007. Relevant to institutions tracking state party funding of international justice mechanisms.

Austria contributed EUR 200,000 to the ICC Trust Fund for Victims in 2026.
EUR 100,000 of the contribution is earmarked for survivors of sexual and gender-based violence.
The remaining EUR 100,000 will fund reparation awards ordered by the ICC and other victim programmes.
Austria has made voluntary contributions to the TFV annually since 2007.
The TFV has set a minimum annual programme funding target of EUR 10 million and flags urgent reparations needs in the Ntaganda and Ongwen cases.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 23 claims 30 Oct 2026

FCA survey finds young investors miss pressure tactics they spot in horror films

The FCA has published survey findings comparing how UK investors aged 18 to 40 respond to pressure tactics in horror films versus identical tactics used in investment marketing. The data underpins the regulator's InvestSmart campaign and its Hype Type Revealer tool, aimed at reducing high-risk decisions driven by urgency, novelty and peer hype.

65% of respondents identified 'this is your only chance' as a horror warning sign, but only 36% said a 'last chance to buy' investment pitch would make them more cautious, and 37% said it would pressure them to buy quickly.
59% recognised countdown tactics like the ticking clock in Saw, compared with just 5% who said a rising investment price graph would make them suspicious.
47% spotted that horror sequels recycle familiar threats as something new, versus 12% who were sceptical of a 'groundbreaking new' investment product, and 1 in 10 said novelty would make them more likely to invest.
80% recognised 'trust me, it's fine, everyone's doing it' as a horror warning sign, yet 29% said excitement from friends or group chats about an investment would reassure them rather than prompt their own research.
The FCA says initial testing of its Hype Type Revealer tool with more than 600 retail investors reduced high-risk investment decisions by 34.9%, with the effect persisting after seven days.

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Commerce Commission New Zealand Source document ↗

Commerce Commission New Zealand Conduct & Consumer ✓ 22 claims 30 Oct 2026

Two Pak'nSave stores fined NZ$580,500 for repeated misleading pricing

New Zealand's Commerce Commission has obtained criminal convictions against two Pak'nSave supermarkets for pricing errors that misled customers, in breach of the Fair Trading Act. The item matters because the regulator used the result to argue publicly for a shift to a civil penalty regime with fines of up to NZ$5 million per breach, and because grocery sector pricing remains an active enforcement priority.

Pak'nSave Silverdale was fined NZ$234,000 on ten charges and Pak'nSave Mill Street NZ$346,500 on eight charges after guilty pleas in the Auckland District Court.
The Commission is awaiting the full written judgment, which it will publish on its case register.
Deputy Chair Anne Callinan linked the result to the Government's Fair Trading Act review, which proposes a civil regime with fines of up to NZ$5 million per breach versus the current NZ$600,000 maximum.
The Commission's case against Woolworths NZ for similar conduct is ongoing, with Woolworths having pleaded not guilty.
The Commission also has current proceedings alleging cartel conduct against Foodstuffs North Island and Gilmours, and civil proceedings announced in August against Foodstuffs South Island over discounting restrictions.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 11 claims 29 Oct 2026

FTC warns 25 healthcare plan marketers over deceptive enrollment claims

The FTC's Bureau of Consumer Protection has sent warning letters to 25 companies that market or generate leads for healthcare plans, timed to the current open enrollment period. The letters flag specific categories of claims the agency considers potentially unlawful and reference past enforcement actions. Compliance and marketing teams in this sector should read the claim categories closely against their own current advertising.

FTC staff sent warning letters to 25 companies that market or generate sales leads for healthcare plans during the current open enrollment season.
The letters flag four categories of potentially unlawful claims, including misrepresenting plan benefits, costs, or falsely claiming a plan is major medical insurance.
The letters also warn against falsely claiming enrollees will receive free offers, cash rewards or rebates.
The letters cite seven prior FTC enforcement actions as examples, including Simple Health Plans, Benefytt Technologies, and Assurance IQ & MediaAlpha.
The FTC says it will send additional warning letters on a rolling basis and does not allege wrongdoing by current recipients.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 13 claims 29 Oct 2026

DOJ hands off two asphalt merger antitrust probes to state AGs after divestiture deals

The Justice Department's Antitrust Division closed two merger investigations in local asphalt markets by referring them to state attorneys general, who then secured divestiture agreements. The statement signals how the division is handing localized competition concerns to states while federal resources focus elsewhere.

DOJ issued Second Requests to Colas and Suit-Kote parties in October 2025 before referring the matter to New York and Pennsylvania.
New York and Pennsylvania settlement requires divestiture of four facilities, recorded as Assurance No. 26-065 and in Pennsylvania v. Colas Inc., No. 3:26-cv-1979 (W.D. Pa. filed Oct. 13, 2026).
CRH's proposed acquisition of Arcosa was valued at approximately $8.5 billion when announced in June 2026.
DOJ referred the CRH/Arcosa matter to the New Jersey Attorney General without issuing a Second Request, instead monitoring progress toward resolution.
The New Jersey divestiture agreement was filed as Davenport v. CRH plc, No. 3:26-cv-13625 (D.N.J. filed Oct. 20, 2026).

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 20 claims 29 Oct 2026

FTC and eight states sue Toast over hidden fees and fake 24/7 support claims

The FTC, along with California localities and seven state attorneys general, has sued restaurant point-of-sale and payment provider Toast Inc. This covers what the complaint alleges about hidden fees, a multi-step cancellation process, loan default triggers tied to cancellation, and false customer support claims, and what the legal basis for the case is.

The complaint alleges Toast subscriptions average around $900 per month depending on terminals and bundled add-ons.
Customers who fail to process payments within 120 days must return hardware or pay its full retail value, according to the complaint.
Restaurants that temporarily close are still required to pay $85 a month for payment processing, the complaint alleges.
Cancelling customers face an undisclosed early termination fee of $150 per month for each remaining month of the contract, with one consumer allegedly charged $5,318.87 after four years.
From September 2021 through late-July 2023, Toast allegedly added a $0.99 fee to certain online orders above $10 without adequate disclosure or consent, a fee that went to Toast rather than the restaurant.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 13 claims 29 Oct 2026

FCA opens FSCS compensation route for former Verus Financial customers

The FCA is directing former customers of failed adviser Verus Financial Services Limited to the Financial Services Compensation Scheme, which has opened claims following an investigation. The notice sets out how to claim, how Ombudsman complaints interact with FSCS claims, and warns against using claims management firms or third parties.

Verus Financial Services Limited has not held permission to carry out any regulated financial services activity in the UK since 2025.
Verus cannot sell, transfer or reduce its assets without approval from the FCA.
FSCS has placed Verus under investigation and is now open to receive customer compensation claims.
Customers with an existing Financial Ombudsman complaint must still separately file a claim with FSCS, though no evidence resubmission is needed if their file is transferred.
The FCA states most of Verus's former clients will see no benefit from involving a third party, including claims management companies, in making a claim.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 21 claims 29 Oct 2026

FCA: weak evidence, not weak pricing, is the usual fair value failing

An FCA director's blog distils supervisory work across consumer finance firms, credit fees and charges, and home energy consumer hire agreements into three questions compliance teams should be asking about their own fair value assessments under the Consumer Duty, now three years in force.

One credit card provider quantified cashback, foreign exchange savings and account benefits and set them directly against fees and interest paid, giving a clear evidence base for its fair value conclusion.
Stronger firms segmented customers by credit risk, product usage, distribution channel, vulnerability characteristics, APR bands and risk-based pricing groups to test fair value across groups rather than as a single homogeneous market.
One firm proactively contacted customers incurring certain charges to check they understood how and when those charges applied, rather than relying only on the existence or readability of disclosures.
The FCA reviewed consumer hire agreements for home energy equipment where 'pay as you save' promotions could lead customers to believe savings or affordability were guaranteed over agreements lasting up to 25 years.
The FCA says firms should be able to show their working: what the evidence shows, how it supports the fair value conclusion, and what they would do if it did not.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 16 claims 28 Oct 2026

FTC orders nine firms to reveal personalised pricing and gig pay methods

The Federal Trade Commission has compelled nine airlines, ride-sharing and food-delivery firms to hand over the methodologies behind how they set consumer prices and gig-worker compensation. The inquiry targets whether personal data is used to charge different people different amounts for the same product, and whether driver pay turns on opaque formulas. Recipients have 45 days to respond.

The FTC issued Section 6(b) orders to Delta, United, JetBlue, Lyft, Uber, DoorDash, Instacart, Target and Walmart.
Recipients have 45 days from receipt of the orders to respond, and non-compliance can be compelled in federal court.
The orders seek the inputs, tools and procedures used to set or adjust both consumer pricing and gig-worker compensation.
The Commission vote to approve the special orders was 2-0.
The FTC says its mid-2024 personalised pricing study examined only middleman consultancies, and this inquiry demands information directly from the firms that set prices.

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FINRA Source document ↗

United States FINRA Conduct & Consumer ✓ 23 claims 28 Oct 2026

SEC clears FINRA rule letting brokers show performance projections to clients

FINRA's October 21 weekly update confirms SEC approval of a rule change allowing member firms to include performance projections in communications with investors, alongside several other near-term compliance deadlines. Compliance officers tracking advertising rules, underwriting compensation disclosure and qualification exam policy should note the staggered effective dates listed.

The SEC approved FINRA's amendment to Rule 2210 on Oct. 15, 2026, allowing performance projections and targeted returns in public communications subject to certain conditions.
FINRA has not yet set an effective date for the Rule 2210 amendment and will announce it in a future Regulatory Notice.
Regulatory Notice 26-19, published Oct. 21, amends Rules 5110 and 5123; the Rule 5123 changes take effect Oct. 21 and the Rule 5110 changes take effect Dec. 21.
Regulatory Notice 26-18, published Oct. 14, details shortened waiting periods for retaking failed qualification exams, effective Jan. 19, 2027.
Responses to the 2026 Customer Information Request are requested by Nov. 18, and SFAC/Regional Committee candidate forms are due by Nov. 19.

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FINRA Source document ↗

United States FINRA Conduct & Consumer ✓ 18 claims 28 Oct 2026

FINRA drops principal approval for late bulk adviser order allocations

FINRA's Oct. 14 weekly update summarizes Regulatory Notice 26-17, which finalizes amendments to Rule 4515.01 governing how firms allocate bulk orders placed by investment advisers. The change is part of the broader FINRA Forward rule modernization effort and removes a specific post-trade review step for member firms.

FINRA Regulatory Notice 26-17, published Oct. 9, summarizes amendments to Rule 4515.01 on allocations of orders made by investment advisers.
The amendments eliminate the requirement that a principal review and approve allocations of bulk investment adviser orders received after trade date.
The notice text states the amendments take effect Nov. 16, 2026.
A separate Regulatory Reminders entry in the same FINRA update states the rule change takes effect Nov. 6.
The amendments are described as part of the FINRA Forward rule modernization initiative.

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Securities and Exchange Commission Source document ↗

United States Securities and Exchange Commission Conduct & Consumer ✓ 16 claims 28 Oct 2026

Nasdaq to publish all disciplinary complaints and drop $10,000 fine threshold

Nasdaq has filed an immediately effective rule change expanding public disclosure of its disciplinary process. The amendment, operative November 14, 2026, replaces summaries with full document publication and removes the monetary threshold that previously shielded smaller fines from release. Compliance teams tracking member exam outcomes should note the broadened scope.

The rule change was filed October 15, 2026 and becomes operative November 14, 2026.
The $10,000 monetary threshold below which Nasdaq previously withheld disciplinary decisions is eliminated entirely.
Nasdaq will publish full copies of disciplinary complaints and decisions rather than summaries, mooting the prior practice of releasing information about such documents.
Proposed IM-8310-3(a)(1) defines disciplinary complaint to include notices issued under Rules 9400 and 9810, a scope broader than FINRA's or NYSE's equivalent rules.
The rule adds public release of eligibility decisions involving members or associated persons previously subject to statutory disqualification.

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FINRA Source document ↗

United States FINRA Conduct & Consumer ✓ 10 claims 28 Oct 2026

FINRA and SIFMA Foundation launch five-year investor education alliance

FINRA and the SIFMA Foundation announced a five-year partnership to expand financial education for young people, citing survey data on parental confidence gaps and the growth of youth-targeted investment products. The item is relevant to compliance and government affairs teams tracking regulator priorities on financial literacy and retail investor protection.

FINRA and the SIFMA Foundation announced a five-year strategic alliance on October 28, 2026 to expand investor education for young people.
A SIFMA Foundation survey found 92% of parents believe it is critical for children to learn about investing, while 78% lack confidence to teach investing basics at home.
The survey also found 76% of respondents believe financial education should start before high school.
The Stock Market Game, the Foundation's flagship program launched in 1977, has reached more than 24 million young people to date.
The announcement references new initiatives such as Trump Accounts and the growth of online investing apps and finfluencers as context for the alliance.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Conduct & Consumer ✓ 24 claims 27 Oct 2026

NYSE raises gift limit to $300, matching FINRA rule

NYSE has filed a rule change to align its gift and gratuity rule with FINRA's recently amended Rule 3220, raising the per-recipient annual limit from $100 to $300 and adding nine new supplementary provisions covering valuation, aggregation, personal and bereavement gifts, and recordkeeping. This affects every member and member organization, including those only registered with NYSE.

The gift and gratuity limit under NYSE Rule 3220 rises from $100 to $300 per individual per year, matching FINRA Rule 3220.
NYSE adopts Supplementary Material .01 through .09, codifying FINRA's provisions on valuation, aggregation, personal gifts, bereavement gifts, de minimis items and disaster donations.
Supplementary Material .02 requires gifts other than event tickets to be valued at cost, and tickets at the higher of cost or face value.
Supplementary Material .03 requires aggregation of all gifts to a recipient across a calendar year, fiscal year, or rolling basis as stated in firm procedures.
The filing took effect under Rule 19b-4(f)(6)(iii) on October 9, 2026, and the SEC may summarily suspend it within 60 days of filing.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 16 claims 26 Oct 2026

FTC and 20 states sue Dollar General over register overcharging

The FTC, joined by 20 state attorneys general, has filed suit against Dollar General Corporation alleging a long-running pattern of charging customers more at the register than the prices displayed on shelves, tags and ads. This briefing covers the allegations, the legal basis and the court where the case will be decided.

Twenty states joined the FTC in filing the complaint, including California, Florida, Michigan, Ohio and Tennessee among others.
Dollar General operates more than 21,000 stores nationwide, according to the complaint.
The complaint alleges Dollar General received tens of thousands of consumer complaints about prices not matching advertised amounts.
The FTC and states allege the conduct violates the FTC Act, the Gramm-Leach-Bliley Act and state laws.
The Commission vote to authorize filing the complaint was 2-0, and the case was filed in the U.S. District Court for the Middle District of Tennessee.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Conduct & Consumer ✓ 19 claims 26 Oct 2026

FCC narrows TCPA 'revoke all' rule, easing bank fraud and alert messaging

The FCC has set a Nov. 25, 2026 effective date for two changes to its Telephone Consumer Protection Act rules that bear directly on how banks contact customers by phone and text. The revisions narrow the 2024 'revoke all' interpretation and loosen a 2015 condition limiting fraud and security alerts to customer-provided numbers. This item covers what changes, the conditions attached and what compliance teams should adjust.

The revised 'revoke all' rule and 'provided number' condition take effect Nov. 25, 2026, based on publication in the Federal Register.
Callers may now interpret a revocation as applying only to the message category it targeted, but must give notice of how revocation will be construed and may designate an exclusive means of revocation.
The 'provided number' condition is loosened so exempted fraud and security alerts can go to numbers obtained from a 'reliable source,' including a spouse or authorized family member, the customer calling the bank, or records from another financial institution.
The FCC voted 3-0 last month to adopt the revisions, which the ABA, the National Consumer Law Center and ACA International jointly proposed in June.

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UK Competition and Markets Authority Source document ↗

United Kingdom UK Competition and Markets Authority Conduct & Consumer ✓ 17 claims 26 Oct 2026

CMA consults on user choice rules for Google search under digital markets regime

The CMA has run a short consultation on a reworked user choice conduct requirement for Google's general search services, the latest step in the strategic market status regime opened in October 2025. The page confirms the consultation window, lists the responses received and identifies the two underlying documents. For search rivals, publishers and AI firms, this sets the shape of how Google must present consumer choices.

The CMA consulted on an updated user choice conduct requirement for Google's general search services from 10am on 23 September 2026 to 5pm on 9 October 2026.
Google was designated in October 2025 as having strategic market status in general search and search advertising, together termed general search services.
The proposal develops a choice architecture requirement first consulted on within a wider conduct requirement package on 28 January 2026.
Supporting material comprises a 72-page consultation document and 57 pages of user research on choice screens in search.
Responses published on 26 October 2026 came from search rivals, publishers and AI firms including DuckDuckGo, Microsoft, Mozilla, OpenAI, Samsung and Which?, with remaining responses still being processed.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 19 claims 26 Oct 2026

Adviser Chandler King enters creditors' voluntary liquidation after FOS complaints

This item covers the collapse of Chandler King (City) Limited, an FCA-authorised financial adviser, into creditors' voluntary liquidation. It sets out what triggered the failure, who now administers client claims, and how the FSCS compensation scheme applies. Relevant for firms monitoring adviser-sector insolvencies and FOS complaint patterns on suitability.

Chandler King (City) Limited entered creditors' voluntary liquidation on 17 September 2026.
Grace Jones and Karyn Jones of Parker Andrews were appointed as joint liquidators.
On 28 April 2026 the firm agreed a voluntary requirement with the FCA restricting its activities.
The Financial Ombudsman Service upheld complaints that the firm gave unsuitable investment advice without adequately explaining risks.
Eligible clients can claim up to £85,000 from the FSCS for custody assets and client money shortfalls.

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FCA Publications Source document ↗

United Kingdom FCA Publications Conduct & Consumer ✓ 19 claims 26 Oct 2026

FCA finds friction, not exclusion, in banks' treatment of defence SMEs

The FCA has published findings from a discovery exercise into how defence sector SMEs experience banking services. The review covers retail banks, building societies and some e-money firms, and sets out expectations on risk categorisation, reputational considerations and management information, without creating new rules.

The review applies to retail banks, building societies and some payment and electronic money institutions.
SMEs are defined as businesses with fewer than 250 employees and turnover not exceeding £44 million or balance sheet total not exceeding £38 million.
The FCA has written to firms that provide banking services to SMEs to share these findings and set out its expectations.
Firms should expect this publication to be treated as point-in-time and can consider it retired by December 2028 if not removed sooner.
The FCA states it will monitor firm responses through supervision and intervene where necessary.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 15 claims 26 Oct 2026

FCA orders board-level review of whistleblower contact after Simon Andriesz's death

The FCA's general counsel has disclosed the death of a long-standing whistleblower and announced an internal review of how the regulator interacted with him. The blog also sets out whistleblowing report volumes and outcomes for the past year, giving compliance teams a rare look at how the FCA processes and acts on tips.

Whistleblower Simon Andriesz, who had been in contact with the FCA for many years, died just over a week before the blog's publication on 6 October 2026.
The FCA has asked newly appointed independent non-executive board director Lea Paterson to review how it interacted with Mr Andriesz.
The FCA plans to share any lessons from Paterson's review, and how it will act on them, early next year.
Whistleblowing reports to the FCA increased 22% last year, and the regulator closed 1,252 reports, providing feedback on each one.
Of the closed reports, 42% led to direct action to manage or reduce harm and 53% informed wider FCA work and harm prevention.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 14 claims 26 Oct 2026

Washington regulator warns consumers on hidden costs of BNPL and card rewards

Washington's Department of Financial Institutions published consumer guidance examining three common payment structures, credit card rewards, promotional 0% financing and buy now, pay later installments, and the costs each can obscure. Compliance teams marketing these products should note the regulator's framing of what adequate disclosure looks like from a consumer-protection standpoint.

DFI states that a 3% credit card surcharge would more than offset 2% cash back earned on the same purchase.
The post notes that unpaid promotional financing balances begin accruing interest at the regular APR once the promotional period ends.
DFI describes BNPL plans that automatically withdraw payments from a debit card or bank account, risking overdraft fees if funds are unavailable.
The guidance advises consumers to ask four questions before accepting any offer: what they get, what fees or interest apply, when payments are due, and what happens if they cannot pay on schedule.
DFI notes that adding an authorized user, opening a joint account or asking someone to cosign can create financial consequences for both parties involved.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 15 claims 26 Oct 2026

Arizona SARMs dealer sentenced, company ordered to forfeit $1.8m and shut down

A DOJ press release details the sentencing of an Arizona man and his company for illegally selling SARMs, unapproved chemical substances that mimic anabolic steroids. The case shows how federal prosecutors use forfeiture and shutdown orders alongside modest individual prison terms in FDA-adjacent enforcement actions.

Jeffrey McIndoo of Phoenix, Arizona was sentenced to four months in prison and a $1,000 fine.
SARMS Pharm LLC pleaded guilty to conspiracy to smuggle SARMs from China into the United States.
Between 2017 and 2022, SARMS Pharm earned gross profits of at least $3.5 million selling SARMs.
Judge Sharad H. Desai ordered SARMS Pharm to cease operations and forfeit $1.8 million in proceeds.
FDA's Office of Criminal Investigations investigated the case, which was prosecuted by the Civil Division's Enforcement & Affirmative Litigation Branch.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Conduct & Consumer ✓ 10 claims 26 Oct 2026

JD Power survey finds bank servicers beat mortgage-only sites on satisfaction

A JD Power survey compares digital customer experience scores for bank-affiliated loan servicers against mortgage-focused servicers, highlighting the role of app and website design in customer retention. Relevant for mortgage servicing and digital banking teams benchmarking channel performance.

Bank servicer apps averaged 736 out of 1,000 in satisfaction, compared with 680 for mortgage-focused servicer apps.
Bank servicer websites scored 740 versus 704 for mortgage-focused servicer websites.
92% of bank servicer website users and 91% of app users said they would continue using the channel when account management was easy and the layout organized.
Those continuation rates fell to 59% and 54%, respectively, when neither condition was met.
JD Power's Jon Sundberg said retail banking app and website best practices are translating into the mortgage servicing space.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 11 claims 26 Oct 2026

Washington securities regulator orders refund over unregistered adviser business

Washington's Division of Securities settled a case against Prasad Anguluri and Innovative Investing Group Inc. over an unregistered investment adviser operation that ran for roughly three years. The consent order is notable less for its size than for a finding that the respondents lied to investigators about charging fees while continuing to collect them. This covers who is bound, what they agreed to pay, and why the false statement matters.

The consent order (S-23-3527-26-CO01) was entered on October 20, 2026 against Prasad Anguluri and Innovative Investing Group Inc.
The respondents operated an unregistered investment adviser business from approximately June 2022 through at least May 2025, receiving a net total of approximately $44,000 from 33 clients.
The order finds the respondents misled the Division by falsely claiming they were not charging for services, when they had been charging for at least the prior nine months and continued afterward.
The respondents agreed to refund $43,708.60 to customers and to pay fines of $2,500 and investigative costs of $1,500.
The matter follows an earlier Statement of Charges, S-23-3527-25-SC01.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 18 claims 23 Oct 2026

FTC sues sextortion relief firm accused of taking $60 million from victims

The FTC obtained a temporary halt against Digital Forensics Corporation, alleging it exploited sextortion victims by charging up to $20,000 for services it never performed, including fake investigative reports and manufactured reviews. The complaint names Belkin, several affiliated companies and multiple statutes allegedly violated, giving compliance and consumer-protection teams a detailed account of the deceptive tactics alleged.

The FTC alleges Digital Forensics misled victims into paying at least $60 million for sextortion assistance services that were never provided.
Consumers were charged between $1,499 and $20,000 for a 'Phase 1' package promising tracking, communication and law enforcement reporting that allegedly did not occur.
Defendants allegedly generated fake positive reviews using employees in India, purchased reviews from Uber drivers, and coerced customers into posting reviews before receiving services.
The complaint names Belkin, Digital Forensics and twelve affiliated companies, filed in the U.S. District Court for the Northern District of Ohio.
The FTC alleges violations of the FTC Act, the Telemarketing Sales Rule, the Reviews and Testimonials Rule and the Gramm-Leach-Bliley Act.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 24 claims 23 Oct 2026

CVS to pay $315M over unlawful opioid fills and false Medicare claims

A settlement between CVS Pharmacy and the Justice Department resolves claims the chain filled invalid controlled-substance prescriptions and billed federal healthcare programs for them. This briefing sets out the alleged conduct, the monetary and remedial terms, and the whistleblower origin of the case.

CVS Pharmacy Inc. will pay $315 million to resolve CSA and FCA allegations covering October 17, 2013 through December 2, 2025.
The government's complaint, filed December 13, 2024 in the District of Rhode Island, alleged CVS filled excessive, early, 'trinity' combination and pill-mill prescriptions.
CVS has entered a memorandum of agreement with DEA requiring a hotline for reporting suspected illegal dispensing, proactive monitoring of dispensing patterns, and evaluation of suspect prescribers.
The case stems from a qui tam lawsuit by former CVS employee Hillary Estright, captioned No. 22-cv-00222 (D.R.I.), with her whistleblower recovery share not yet determined.
The complaint alleged CVS's corporate performance metrics, incentive compensation and understaffing policies prioritized profits over patient safety and barred pharmacists from warning each other about problematic prescribers.

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BIS Press Releases Source document ↗

Global BIS Press Releases Conduct & Consumer ✓ 14 claims 23 Oct 2026

BIS official urges central banks to treat household financial health as core mandate

A speech by Fernando Restoy, chair of the BIS Financial Stability Institute, delivered at the G-24/AFI Policymakers' Roundtable in Bangkok, sets out why household financial health should inform how central banks pursue existing financial stability and monetary policy mandates, including through cryptoasset-related risks and new indicators.

Restoy explicitly states he is not suggesting financial health should become a new central bank objective.
The G20 working definition cited identifies four dimensions of financial health: managing day-to-day obligations, coping with shocks, pursuing future goals, and feeling financially secure.
Restoy cites a recent FSI paper (Frost et al 2026) finding that expanded financial inclusion has not automatically translated into better financial health across countries.
He identifies two required actions: better measurement of household financial health, and research into whether financial health indicators can complement existing financial stability and monetary policy frameworks.
On cryptoassets, he notes volatility, fraud prevalence, absence of deposit-insurance-like protections, and lower financial literacy in markets with the fastest-growing crypto use as risks to financial health.

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FCA Publications Source document ↗

United Kingdom FCA Publications Conduct & Consumer ✓ 22 claims 23 Oct 2026

FCA finds private market conflicts controls lagging behind business complexity

The FCA has published detailed findings from its multi-firm review of how private market firms identify, manage and disclose conflicts of interest. It covers asset managers, AIFMs and advisers in private equity, private credit and real estate, and sets out where governance and controls have failed to keep pace with growing business complexity. The regulator expects firms to close gaps and signals targeted follow-up work.

The review assessed firms against SYSC 10, COLL 8.5.7, COBS 2.3A.8R, COBS 11.7 and COBS 11.7A, running in two phases: a questionnaire followed by on-site visits.
On cross-fund transfers and continuation vehicles weaker frameworks relied more heavily on existing governance, disclosure or investor consent; on gifts and entertainment they relied on policy thresholds and generic approvals; and on information barriers they relied on staff training, judgement and informal safeguards.
Only 52% of phase 1 firms said internal audit had a role in reviewing the conflicts framework and its application.
The FCA criticised firms whose conflicts frameworks reflected the legal form of UK activities as advisory-only while UK staff were involved in significant, conflict-generating parts of the investment lifecycle.
In one case a firm sold a fund asset to an internal fund at NAV rather than pursuing external buyer interest, and could not explain why or how the NAV price served the selling fund.

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Federal Register — Treasury Source document ↗

United States Federal Register — Treasury Conduct & Consumer ✓ 16 claims 23 Oct 2026

Treasury proposes rules defining large institutional investors barred from buying homes

Treasury has issued a notice of proposed rulemaking to implement section 1001 of the 21st Century ROAD to Housing Act, which bars large institutional investors from buying single-family homes subject to exceptions. The rule defines undefined statutory terms and clarifies enforcement before the prohibition takes effect. Comments are due November 23, 2026.

Comments on the proposed rule must be received on or before November 23, 2026.
The statutory prohibition and exceptions take effect January 7, 2027, 180 days after the Act's July 11, 2026 enactment.
A renovate-to-rent program requires improvements of at least 15 percent of the purchase price, with a non-exclusive safe harbor at 10 percent for structural or core system elements.
Civil penalties under section 1001(d) can reach the greater of $1 million or three times the purchase price of the property, and a purchase violating the Act involving more than one large institutional investor counts as a single violation for calculating the maximum penalty.
Treasury states it intends further rulemakings on other aspects of section 1001, including compliance procedures, reporting, recordkeeping, and enforcement actions.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 17 claims 23 Oct 2026

Washington state regulator publishes consumer guide to credit card billing cycles

This is a consumer-facing explainer from Washington's Department of Financial Institutions aimed at cardholders confused by statement balances versus app balances. It covers billing cycle mechanics, grace periods and the difference between a credit card balance and a checking account balance, intended as financial literacy content rather than new rulemaking.

The post explains that a credit card purchase is effectively borrowing money with a promise to repay, usually with interest, unlike a debit card which draws funds immediately.
Purchases and transactions accumulate during a billing cycle, and the card issuer produces a statement when that cycle ends.
Paying the full statement balance by the due date will generally allow a cardholder to avoid interest on purchases if the card has a grace period.
The statement balance, minimum payment and payment due date are described as three distinct pieces of information that tell a cardholder different things.
The statement closing date is cited as the reason a newer purchase may not appear in the amount currently due.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 15 claims 22 Oct 2026

Washington regulator urges rate shopping within CFPB's 14 to 45 day window

A consumer education post from Washington State's Department of Financial Institutions walks through how lenders evaluate loan applications and how borrowers can compare offers without unnecessary credit score damage. It draws on CFPB guidance about credit inquiry timing for auto loans.

The post states a lender may consider debt-to-income ratio, comparing monthly debt payments with gross monthly income, when evaluating an application.
The CFPB is cited as stating that multiple inquiries for an auto loan made within a relatively short period are generally treated as a single inquiry for scoring purposes.
The CFPB recommends keeping auto-loan shopping within a 14- to 45-day window, according to the post.
The post advises comparing APR, interest rate, loan term and total cost rather than relying on monthly payment alone, since a longer loan term can lower payments while increasing total interest paid.
The post recommends researching advertised rates first, then seeking actual prequalification or preapproval offers from a narrowed set of lenders within a focused shopping period.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 15 claims 22 Oct 2026

Oklahoma landlord to pay $52,500 over refusal to rent to family with child

A DOJ civil rights settlement resolves a lawsuit against the owners of an Oklahoma City apartment complex accused of refusing to rent to a single mother once she disclosed her three-year-old son would live with her, a violation of the Fair Housing Act's familial status protections.

Defendants agreed to pay $52,500 to the woman who was denied an apartment at The Vintage at Mesta Park.
The lawsuit was filed in the U.S. District Court for the Western District of Oklahoma in August 2025, following events from July 2022.
Defendant Jacqueline Fox allegedly told the woman she could not move in because no children had resided at the property in over eight years and it was not "kid friendly."
The settlement requires defendants to implement a nondiscrimination policy and undergo training to prevent future familial status discrimination.
HUD referred the case to DOJ after investigating the woman's complaint and issuing a charge of discrimination.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 19 claims 22 Oct 2026

FTC sues ticket broker REPS over scheme to bypass purchase limits

The FTC referred a complaint to the Department of Justice against ticket broker REPS & Company and three executives, alleging systematic circumvention of ticket-issuer purchase limits under the Better Online Ticket Sales Act. The case touches on how resellers evade platform security controls and what obligations that law imposes on brokers operating at scale.

The complaint alleges REPS purchased more than eight tickets for at least 83,500 events since 2022.
REPS allegedly spent more than $1.3 billion to amass more than 18.5 million tickets.
The complaint alleges REPS generated at least $120.8 million in profit reselling these tickets.
One example cites $833,000 in profit from using 1,300 accounts to buy 7,624 tickets to a 2023 Beyonce Renaissance tour concert in Kansas City.
The Commission voted 2-0 to refer the complaint to the DOJ, which filed it in the U.S. District Court for the Southern District of California.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 12 claims 22 Oct 2026

DOJ and FTC sue California ticket broker over BOTS Act violations

The Justice Department's Civil Division, with the FTC, has filed a civil complaint against a California ticket broker and its executives for allegedly circumventing ticket-purchase limits at scale. This briefing covers who is named, the statutory basis, and the figures alleged in the filing.

DOJ's Civil Division and the FTC filed a complaint against REPS & Company Inc. and three named executives: Ryan Pancheri, Brian Archibald, and Nicholas Totagrande.
The complaint alleges violations of the FTC Act and the Better Online Ticket Sales (BOTS) Act, which bars circumventing ticket sellers' access controls.
Defendants allegedly spent more than $1.3 billion to amass over 18.5 million tickets for thousands of events since 2022.
The complaint alleges at least $120.8 million in profit from reselling the tickets on the secondary market.
The case was filed in the U.S. District Court for the Southern District of California; the claims are allegations only, with no determination of liability.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 13 claims 22 Oct 2026

Jamaican national pleads guilty to illegal voting in 2024 US election

A guilty plea in federal court in Trenton shows the Justice Department's Election Integrity Task Force pursuing individual noncitizen voting cases alongside broader actions. The case carries direct relevance for compliance teams monitoring how federal agencies coordinate on immigration and election-related enforcement, and signals continued prioritization of this enforcement area.

Gaye Tyndale-Simpson, 55, a citizen of Jamaica, pleaded guilty to one count of voting by an alien in a federal election.
The plea concerns votes cast in the November 2024 general election, held in part to elect a president.
The charge carries a maximum penalty of up to 6 months in prison and a $100,000 fine.
Sentencing before Judge Singh is scheduled for February 24, 2027.
The case was investigated by the FBI, Homeland Security Investigations, the State Department's Diplomatic Security Service, and USCIS under the U.S. Attorney's Office's Election Integrity Task Force.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Conduct & Consumer ✓ 21 claims 22 Oct 2026

FTC wins $106.8 million judgment shutting down debt relief scheme

This item covers a default judgment and related stipulated orders closing out an FTC enforcement action against a debt relief operation accused of impersonating banks and government agencies. It matters for compliance teams at debt relief and credit services firms because it details the specific bans and asset turnover terms now attached to individuals and entities in the industry.

The court entered a $106.8 million default judgment on October 14, 2026 against Accelerated Debt Settlement Inc. and six affiliated entities.
Jeffrey Lakes faces a $104.3 million judgment, jointly and severally with other defendants, partially suspended after he turns over approximately $12.6 million in assets.
Robert Knechtel's $37,299,828 judgment will be suspended based on his inability to pay.
Elizabeth Reaney must transfer $175,000 or the title to her home in Scottsdale, Arizona.
The order bans defendants from impersonating government entities or businesses, telemarketing, and misrepresenting credit report purposes or debt relief outcomes.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 19 claims 22 Oct 2026

Village Capital to pay over $500,000 over servicemember loan rights violations

DOJ settled claims that VA home loan servicer Village Capital & Investment LLC mishandled Servicemembers Civil Relief Act interest rate protections and retaliated against borrowers who asserted their rights. The settlement sets out payment terms, a civil penalty and compliance obligations relevant to other VA loan servicers monitoring SCRA enforcement.

DOJ alleges Village Capital failed to apply SCRA's 6% interest rate cap retroactively to at least 41 servicemembers' pre-service mortgage debts.
The company will pay at least $425,000 to affected servicemembers plus a $79,380 civil penalty, the maximum for a first SCRA violation.
DOJ alleges Village Capital misled borrowers by telling them their rate was already below 6% when it was in fact above 6%.
The settlement requires Village Capital to revise policies and procedures and provide SCRA training to employees.
DOJ alleges Village Capital retaliated against rate-benefit requesters by accelerating principal and falsely reporting their loans as delinquent to the VA.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Conduct & Consumer ✓ 10 claims 22 Oct 2026

SEC corrects comment deadline for interval fund share class proposal

The SEC has issued a correction to the DATES section of a proposed rule on interval fund modernization and multiple share classes for registered closed-end management companies. This brief covers what the correction changes, the affected release numbers, and the revised comment deadline firms should track.

The correction applies to proposed rules document 2026-20360, originally published October 5, 2026 at page 63388 of the Federal Register.
The corrected DATES section sets the comment deadline as December 4, 2026.
The rulemaking covers 17 CFR Parts 239, 249, 270, and 274 under Release No. 33-11444, 34-106534, IC-36351, File No. S7-2026-34, RIN 3235-AN83.
The correction notice was filed on October 19, 2026 at 8:45 a.m.

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SEC Speeches and Statements Source document ↗

United States SEC Speeches and Statements Conduct & Consumer ✓ 14 claims 22 Oct 2026

SEC official warns on governance gaps in California JPA bond financings

A speech by the SEC's municipal securities chief to a California public finance conference lays out specific concerns about bond-issuing joint powers authorities, citing fee structures, board composition and disclosure failures, before turning briefly to risks in the fast-growing energy prepay bond sector.

One JPA financed 14 essential housing projects with $2.5 billion in bond financing, and half have defaulted, dipped into reserves, or reported impairment.
Another JPA has a 1% default rate, which the speech says is over 30 times the overall municipal bond default rate and over 100 times the default rate for general governmental bonds.
Firms advising California JPAs received fees ranging from around $3.1 million to over $11.9 million per JPA for the fiscal year ended June 30, 2025.
The two largest California statewide JPAs have retained almost $125 million in issuer fees since 2010.
Energy prepay bonds have surpassed $100 billion outstanding in 2025 and now exceed 5% of the Bloomberg Municipal Index, with 37% average annual issuance growth.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 11 claims 22 Oct 2026

Washington state regulator urges consumers to review credit reports for errors

Washington State's Department of Financial Institutions has published consumer guidance explaining what information appears on a credit report and how to check it for accuracy. The piece is aimed at everyday consumers rather than regulated firms, but compliance teams handling credit reporting disputes or furnisher obligations may find it useful context for how the state frames consumer expectations.

The post identifies accounts (credit cards, auto loans, mortgages), balances, credit limits, payment history and personal information as the main contents of a credit report.
AnnualCreditReport.com is named as the official site for obtaining reports from Equifax, Experian and TransUnion.
The post states consumers can access their credit reports once a week for free through that site.
Consumers are advised to check for unrecognized accounts, mismatched balances, inaccurate personal information and unfamiliar inquiries.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 18 claims 22 Oct 2026

Washington DFI tells consumers how to dispute credit report errors

A consumer-facing blog post from Washington's Department of Financial Institutions walks through what to do when a credit report shows an account, balance or inquiry a consumer does not recognise. It covers investigation, the dispute process with credit reporting companies, and when to escalate to DFI.

Consumer Reports found that more than one in 10 people have inaccurate information on their credit report that could affect their score.
AnnualCreditReport.com recommends identifying the disputed item, explaining why it is believed inaccurate, and submitting supporting documents.
Consumers should keep original documents and save copies of everything sent to or received from disputed parties.
Disputes can be filed both with the credit reporting company and with the company that furnished the disputed information.
Washington DFI says it may assist if a dispute goes unresolved and the financial service provider falls under its authority.

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Washington State DFI Source document ↗

United States Washington State DFI Conduct & Consumer ✓ 17 claims 22 Oct 2026

Washington DFI warns consumers to vet fees behind credit-building products

Washington's Department of Financial Institutions publishes consumer guidance distinguishing credit invisibility from thin credit files, and walks through the main tools marketed to build a credit history. The piece is aimed at consumers weighing secured cards, authorized-user status, credit-builder loans and rent reporting, and flags questions to ask before paying for any of them.

DFI distinguishes 'credit invisibility' (little or no credit history) from a 'thin credit file' (some history, but not much).
The guidance recommends asking what information will be reported, who will receive it, and what the service will cost over a year before paying for a credit-building service.
A secured credit card uses a security deposit that often becomes the card's credit limit, reducing risk to the issuer.
Authorized-user arrangements only help if the card issuer reports authorized-user information, which consumers should verify before agreeing.
Credit-builder loans may carry interest and fees, and DFI advises finding out the full cost of the loan before signing up.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Conduct & Consumer ✓ 16 claims 22 Oct 2026

Somerset Lifesciences to pay $4M over mislabeled generic eyedrop Medicare claims

A DOJ Civil Division settlement resolving allegations that a generic drug maker caused Medicare Part D to pay for a drug no longer eligible for coverage. Relevant to compliance and legal teams at pharmaceutical manufacturers responsible for label changes tied to brand-drug switching events, and to healthcare payors monitoring FCA-adjacent enforcement trends.

Somerset Lifesciences Inc. agreed to pay $4 million to resolve the allegations.
The FDA approved OTC sale of the brand-name equivalent, Pataday, in February 2020.
Generic drug labels must mirror their brand-name counterpart's label, meaning Somerset was required to switch Olopatadine from Rx-only to OTC at that time.
Somerset continued to label and sell Olopatadine as prescription-only, causing Medicare to pay claims for a drug no longer eligible for coverage.
The matter is handled by Fraud Section Trial Attorney Vince Vaccarella, and the settlement resolves allegations only, with no determination of liability except for admissions in the agreement.

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FCA Publications Source document ↗

United Kingdom FCA Publications Conduct & Consumer ✓ 12 claims 22 Oct 2026

FCA sets 2027 timetable for retail investment rule changes

The FCA has published feedback to DP25/3, its discussion paper on expanding consumer access to investments, and set out the next phase of work. This matters to platforms, advisers and product providers because it signals which reforms are prioritised and on what timetable, ahead of formal rule changes.

The discussion paper DP25/3 was open for feedback from 8 December 2025 to 6 March 2026, with the feedback statement published 16 October 2026.
The FCA will review financial promotion rules for high-risk investments to check whether products with similar risks are treated consistently.
The FCA plans to consult in early 2027 on changes to rules and guidance on risk information for mainstream investments.
A review of the appropriateness assessment, including the impact of the current model and alternatives, will involve stakeholder engagement in 2027.
A multi-firm review of model portfolio services has begun, with findings expected by the first quarter of 2027.

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