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Cards Wire 29 segments

3:20

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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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 12 claims 02 Nov 2026

FCA sets terms of reference for internal review over Andriesz whistleblower case

The FCA has published terms of reference for an internal review into how it handled whistleblowing disclosures from Mr Simon Andriesz, who has since died. The review's scope has widened and its timeline has slipped, with a progress update due January 2027 and a final report in spring 2027.

The review is led by Lea Paterson CBE, an independent non-executive director of the FCA, and was commissioned by the FCA's non-executive directors.
Scope now includes whether the FCA met its responsibilities under whistleblowing law and followed its own policies and procedures, including handling of Mr Andriesz's detriment concerns.
The review covers the period from at least 2017 to 2026.
A progress update will be published in January 2027, with the final report expected in spring 2027, later than the previously stated early 2027 target.
The review will identify lessons learned and make recommendations for future engagement with external whistleblowers and vulnerable individuals.

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0:15

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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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.

Source document

3:11

FCA Source document ↗

United Kingdom FCA Digital Assets ✓ 21 claims 29 Oct 2026

FCA secures High Court undertakings forcing HTX exit from UK crypto market

The FCA has closed its financial promotions case against HTX, the global exchange formerly called Huobi, with High Court undertakings and a confidential settlement. The exchange is no longer active in the UK, cannot take new sign-ups or deposits, and has committed not to target UK consumers. The segment covers what binds, what remains, and the signal to other offshore platforms.

Huobi Global S.A. gave undertakings not to communicate financial promotions in contravention of section 21 of FSMA 2000, covering its website, apps and social media.
The FCA commenced proceedings in the High Court on 21 October 2025 and announced the enforcement action publicly on 10 February 2026.
HTX is no longer active in the UK: UK users cannot make deposits and new UK users cannot sign up to the platform.
The settlement terms are confidential and constitute no admission of liability or wrongdoing by Huobi Global or any other entity.
UK users should consult HTX's website for arrangements to withdraw any residual assets.

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3:19

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 21 claims 27 Oct 2026

FCA confirms Bullseye Financial has entered administration

The FCA has published a customer notice confirming that Bullseye Financial Ltd, an FCA-authorised firm serving only professional investors, entered administration on 23 October 2026. The notice directs customers to the joint administrators, flags FSCS and Ombudsman routes, and warns about recovery-room scams. It also records a link to HDH Investment Services Ltd, which went into liquidation in April.

Bullseye Financial entered administration on 23 October 2026, with joint administrators from Azets and RSM UK appointed.
The firm served only professional investors, providing discretionary management or execution-only dealing without investment advice.
On 11 March 2026 the firm agreed a voluntary requirement to cease all regulated activity.
Bullseye Financial provided some services to clients of HDH Investment Services Ltd, which entered liquidation on 16 April 2026.
The FCA says the firm remains authorised and supervised and must still comply with FCA rules, while the administrators answer to their own regulators and insolvency law.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 23 claims 27 Oct 2026

FCA survey finds firm satisfaction up to 79%, trust rises to 75%

The FCA has published results from its annual survey with the Practitioner Panel, measuring how regulated firms view its performance. The data cover satisfaction, trust, effectiveness and understanding of specific objectives including Consumer Duty and the secondary competitiveness objective. Compliance and government affairs teams tracking the FCA's relationship with industry and its simplification agenda should note the figures.

79% of firms reported high satisfaction with their FCA relationship, up from 74% last year.
76% of firms rated the FCA a highly effective regulator, up from 69%, and 75% reported high trust.
Understanding of the Secondary International Competitiveness and Growth Objective rose 27 percentage points, with confidence in its delivery up 25 points.
88% of firms said they understand FCA expectations on supporting consumers and embedding the Consumer Duty.
The FCA says it is removing outdated or duplicated data returns for 90% of firms and delivered an estimated £5.6bn in benefits to consumers and the economy in its strategy's first year.

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FCA Source document ↗

United Kingdom FCA Markets & Infrastructure ✓ 24 claims 27 Oct 2026

FCA director sets out completed reforms and tokenisation roadmap for UK markets

A speech by the FCA's director of infrastructure and exchanges reviews the regulator's multi-year capital markets reform programme and previews further work on tokenisation, AI and private markets. Compliance and markets teams tracking the UK's wholesale reform agenda, including digital gilt issuance and stablecoin rules, should note the stated direction of travel and forthcoming publications.

The FCA says it has completed around 30 capital-markets focused workstreams as part of a multi-year reform programme.
The bond consolidated tape launched in June, described as the first outside North America, with 1.6 million licences subscribed.
Four PISCES operators have been authorised and seven transactions completed on the new private share trading market.
A joint FCA-Bank of England roadmap on tokenisation of wholesale markets will be published in coming weeks.
The digital gilt (DIGIT) is expected to launch via the Digital Securities Sandbox early next year.

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0:15

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.

Source document

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 17 claims 26 Oct 2026

FCA says defence SMEs face banking friction and delay, not exclusion

The FCA has published findings on whether small defence-sector businesses can access everyday banking services. The piece matters to compliance teams at banks and other firms serving this sector because it sets out the regulator's read on where risk-based onboarding is falling short, without creating new rules.

The FCA engaged with firms and found they can and do serve defence SMEs, with some investing in specialist teams and governance processes.
The regulator identified friction and delay, including long onboarding processes and repeated requests for information, rather than widespread exclusion.
The FCA states there is no regulatory barrier preventing firms from supporting lawful defence businesses, and firms retain their own commercial risk appetite.
Many firms told the FCA they lack a clear picture of their defence customers or the outcomes those customers experience through the firm's processes.
The work introduces no new rules or requirements but reinforces that firms should take risk-based, proportionate decisions on individual customers, including SMEs.

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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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0:15

FCA Source document ↗

United Kingdom FCA Prudential & Capital ✓ 20 claims 23 Oct 2026

FCA chair calls for cross-border testing of cloud and AI risks to finance

In a lecture honouring the late Michael D. Gill, FCA Chair Ashley Alder argues that financial risk now travels across firms, sectors and borders faster than regulators built in silos can track. He sets out why the UK's Critical Third Parties Regime, supervisory intelligence-sharing and joint crisis exercises need to expand internationally. Relevant for firms watching how operational resilience obligations may extend beyond financial services.

The FCA, Bank of England and Prudential Regulation Authority's Critical Third Parties Regime currently covers major cloud computing providers, marking the first time UK financial regulators have extended reach outside the financial sector.
The FCA hosted a financial crime conference this year with more than 400 attendees from government, regulators, industry, professional bodies and tech firms.
The UK participated in a G7 cyber crisis simulation exercise earlier this year to test cross-border coordination during a major incident.
The Global Financial Innovation Network, which Alder says the FCA is leading on a quantum toolkit due next month, draws on insights from 25 members including US regulators.
The FCA is working with the Monetary Authority of Singapore to develop tools supporting safe, responsible AI adoption.

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3:06

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 14 claims 23 Oct 2026

FCA finds uneven conflicts management across private market firms

The FCA has published findings from a review of how private market firms identify, manage and disclose conflicts of interest. Standards varied considerably across private equity, private credit and real estate, with some firms failing to keep controls in step with their own growth. The regulator wants firms to act on the findings, and signals a wider supervisory focus on private markets and investor outcomes.

The FCA review covered conflicts of interest and fair customer treatment across private equity, private credit and real estate.
Recurring weaknesses were found in cross-fund transfers and multi-party transactions, gifts and entertainment, and information barriers.
The FCA expects firms to identify, record, manage and disclose conflicts effectively and to demonstrate investors are treated fairly.
Separately, the FCA is examining governance and conflicts concerns relating to the use of private credit to fund consumer litigation claims.

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0:15

FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 16 claims 23 Oct 2026

FCA restricts six Annex 1 lenders over money laundering control concerns

The FCA has placed restrictions on six unregulated lenders registered as Annex 1 firms after raising concerns about their anti-money laundering controls during application assessments. The action sits within a wider review of roughly 900 registered firms. This segment covers who is affected, what the restrictions require, and the due diligence reminder the FCA directed at regulated firms dealing with the sector.

The FCA imposed voluntary restrictions on six Annex 1 firms after concerns about their AML controls surfaced during application assessments.
Restrictions limit new customers and new business, constrain payments from existing customers, and require independent AML reviews or, for Kingscrown Finance Ltd, an orderly wind-down of its loan book.
The FCA is assessing responses to an information request sent to around 900 registered Annex 1 firms to identify and disrupt financial crime risks.
The FCA reminded regulated firms that an Annex 1 firm's registration does not replace their own due diligence, including confirming registration status and conducting independent checks.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 18 claims 22 Oct 2026

FCA chief signals more assertive use of powers to tackle digital-era market risks

A speech by FCA chief executive Nikhil Rathi sets out how the regulator intends to respond to AI, tokenisation and other fast-moving technology without slowing innovation. It signals a shift from rulemaking toward more assertive supervisory action, a rethink of AML processes, and new leadership roles tasked with cutting duplicative compliance burden while expanding the FCA's reach into unregulated sources of harm.

FCA chief executive Nikhil Rathi delivered the speech at the Corporation of the City of London's annual City Dinner on 22 October 2026.
Rathi said as much as 8% of banks' workforces are dedicated to combatting financial crime, and called for better outcomes from those resources.
The FCA is integrating over 60,000 professional services businesses into its regulatory ambit.
New chief operating officer Johan Sekora, formerly of Swedish banks' intelligence sharing efforts, will lead work to look beyond KYC processes toward uncovering actual money laundering.
Deputy chief executive Sarah Pritchard will engage firms to streamline duplicative compliance assurance, including a review of the three lines of defence model.

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0:15

FCA Source document ↗

United Kingdom FCA Prudential & Capital ✓ 16 claims 22 Oct 2026

ePayments Systems enters special administration, FCA confirms

The FCA confirms e-money firm ePayments Systems Limited has entered special administration, a regime designed to prioritise returning customer funds quickly. This covers who is now responsible, what protections apply, and why FSCS compensation does not cover this case.

EPS entered special administration on 15 October 2026 under the Payment and Electronic Money Institution Insolvency Regulations 2021.
Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators.
The FSCS does not cover payment services, so EPS customers have no compensation scheme protection for these funds.
The special administrators will assess all funds held by the firm to confirm the current safeguarding position.
The FCA states EPS remains FCA-authorised and subject to its rules throughout the administration.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 14 claims 22 Oct 2026

Jarvis Investment Management enters special administration, FCA confirms

The FCA has confirmed that Jarvis Investment Management, a UK wealth manager it authorises, has entered special administration. This briefing sets out the appointment, the FCA's ongoing supervisory role, and what clients with money or custody assets held at the firm need to do next.

Jarvis Investment Management Limited (FRN 116413) entered special administration on 14 October 2026.
Adam Stephens and Philip Hemming of S&W Partners LLP were appointed as special administrators.
Jarvis Investment had agreed a voluntary requirement with the FCA on 16 September 2022 restricting its activities without FCA consent.
Clients will be written to within 8 weeks of the appointment explaining how money and assets will be returned and how to claim.
The FSCS may cover shortfalls in client money or assets and distribution costs up to £85,000 for eligible clients.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 11 claims 22 Oct 2026

FCA signs lease for new Leeds office, relocating in 2028

A short FCA news update on a property matter rather than a policy change: the regulator has agreed a new long-term office in Leeds. It matters mainly to staff, suppliers and local stakeholders tracking the FCA's regional footprint and its 2030 workforce target.

The FCA has signed an agreement for a new office at 2 Wellington Place, Leeds.
The new site will provide 36,097 sq ft of space and becomes the FCA's long-term Leeds home from 2028.
The FCA's current Leeds office at 6 Queen Street opened in 2022 and has continued to grow since.
The move supports the FCA's five-year strategy ambition of 1,000 roles based outside London by 2030.
The FCA says it will share more about the new office and plans closer to 2028.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 24 claims 21 Oct 2026

FCA deputy chief says rulemaking has peaked but tokenisation and T+1 deadlines loom

A speech by FCA deputy chief executive Sarah Pritchard to the Investment Association sets out the regulator's claim to be past peak rulemaking while listing an active pipeline including a fund reporting consultation closing this week, a tokenisation roadmap with the Bank of England, and a warning on T+1 settlement readiness. Useful for compliance teams tracking where FCA attention and enforcement discretion are heading next.

UK investment fraud losses rose 40% in 2025, Pritchard said, despite the FCA securing more criminal convictions than ever before across fraud, money laundering and insider dealing.
The FCA's consultation on streamlining the asset manager rulebook, which it says could save firms £128m per year, is collecting responses until this Thursday.
A joint tokenisation roadmap with the Bank of England, setting the path from testing to lasting market infrastructure, is due next month.
T+1 settlement goes live in under a year and the FCA said it will act against firms found unprepared.
More than a dozen firms were authorised to deliver targeted support within six months of its introduction, with consumers receiving it said to invest up to 53% more than those who do not.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 22 claims 21 Oct 2026

FCA bans ex-CEO who fronted for disqualified director in £4m mini-bond scheme

The FCA has banned two individuals connected to Vector Wealth Ltd after a disqualified director used the firm's authorised status to sell high-risk mini-bonds. This item sets out the fines, the restitution ordered, and how the regulator treated cooperation and financial hardship, useful reading for anyone weighing SMCR exposure where control of an authorised firm changes hands.

Jeffrey Dawkins was banned and fined nearly £270,000 for acting as a front for a disqualified director at Vector Wealth Ltd.
Dawkins was ordered to pay £57,298 plus interest (£68,257) of proceeds from selling the firm and continuing as its director and approved person.
Kadir Kanizi was banned from senior management roles; his £80,096 penalty was reduced to £20,000 for financial hardship and redirected to liquidators.
Investors are expected to lose about £4 million, having invested £105,000 on average with one investing £1.1 million.
There is a statutory obligation to report a change in control of authorised firms, which this case turned on.

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0:15

FCA Source document ↗

United Kingdom FCA AI, Technology & Data ✓ 28 claims 19 Oct 2026

FCA publishes AI good and poor practice and asks LLM providers to add disclaimers

FCA data chief Jessica Rusu used a Bloomberg policy speech to publish observations on good and poor AI practice from this year's firm testing, call on general-purpose AI providers to add disclaimers, and set out how the FCA will supervise agentic finance. For compliance and technology leads, the material change sits in incident reporting and accountability expectations rather than any new rulebook.

The FCA published good and poor AI practice today, structured around consumer centricity, accountability and governance, and operational resilience.
Rusu said existing rules requiring firms to report major incidents must extend to significant AI failures and near-misses.
Six of the seven Mills Review recommendations are being embedded into live FCA work immediately, with the response focused on testing, assurance, monitoring and surveillance rather than further consultation.
The FCA called on general-purpose AI providers to add clear, proportionate and consistent disclaimers about the limits of financial information and advice their models generate.
The FCA is building AI supervisory tools, including a market first responder agent for about 9,000 small wholesale transaction-reporting firms and tooling for 60,000 AML firms entering its remit in 2028.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 22 claims 19 Oct 2026

FCA survey of 411 corporate finance firms finds weakest spots in compliance culture

The FCA has published findings from a survey of corporate finance firms' compliance resources, flagged in its Regulatory Priorities Report. Most firms perform core compliance tasks, but the regulator wants to see more independent challenge and better-embedded compliance culture, particularly in small firms and those playing public-markets roles. If you run second-line functions in wholesale advisory firms, this sets the benchmark the FCA will apply when it engages selected firms next.

The FCA surveyed 411 corporate finance firms and received 382 responses; 47% reported carrying out all activities covered by the survey.
140 firms reported that regulatory compliance does not form part of staff performance assessments, and 90 reported no whistleblower disclosure arrangements.
82 firms each reported that compliance does not attend management body meetings and does not report at least annually to the management body.
63% of firms reported a compliance function that is not dedicated solely to compliance, and 90% used some form of third-party compliance support.
The FCA will engage selected firms further to examine the adequacy and effectiveness of their compliance resources and gaps in practice.

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0:15

FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 14 claims 16 Oct 2026

FCA Proposes 90-Day Minimum Notice Period for Illiquid Asset Funds

The FCA has opened a consultation on new redemption rules for authorised funds holding hard-to-sell assets like property and infrastructure. The proposal sets a 90-day minimum notice period for investor withdrawals, intended to prevent the liquidity mismatches that have previously forced fund suspensions. Compliance and product teams at authorised fund managers should review the consultation and consider how a mandatory notice floor would affect existing NURS structures.

The FCA is consulting on CP26/35, proposing fair redemption terms for authorised funds investing in illiquid assets.
Funds investing in inherently illiquid assets such as property and infrastructure would need to give investors 90 days' notice before redemption.
Existing funds would have 2 years to comply and must give investors at least 1 year's notice of the change.
The consultation applies to authorised fund managers of non-UCITS retail schemes (NURS).
The FCA is asking for feedback on the proposals by 11 December 2026.

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FCA Source document ↗

United Kingdom FCA Conduct & Consumer ✓ 21 claims 15 Oct 2026

Upper Tribunal to hear motor finance redress scheme challenge in February 2027

The FCA has a hearing date for the legal challenges to its motor finance compensation scheme. The segment covers who is challenging, what lenders must still do while the scheme is partially suspended, and the contingency the regulator is telling firms to plan for if the scheme is struck down. Relevant to anyone managing redress exposure or provisioning in motor finance.

Upper Tribunal will hear the challenges between 16 and 26 February 2027, with judgment expected in the following months.
Challengers are VW, Mercedes Benz and Crédit Agricole auto finance units, plus Consumer Voice represented by Courmacs Legal.
FCA tells lenders to make financial provisions, engage auditors and prepare for the scheme being quashed with no complaint-handling pause.

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 12 claims 15 Oct 2026

FCA and NCA arrest three in insider dealing and money laundering operation

The FCA and National Crime Agency arrested three people on 13 October in a coordinated operation against a suspected organised crime group accused of insider dealing and money laundering. More than 100 staff searched five homes and seized over 30 devices. This segment covers what the regulator has confirmed so far and how it fits the FCA's stated push against market abuse by organised crime.

Three arrests on 13 October followed a joint FCA-NCA operation; over 100 staff searched five homes in London and Manchester.
Investigators seized more than 30 mobile phones, laptops and tablets; all three suspects are being interviewed at police stations.
In 2025/26 the FCA secured four insider dealing convictions, including two record sentences totalling 11 years, and fined 12 people £1.77m.

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FCA Source document ↗

United Kingdom FCA Digital Assets ✓ 16 claims 15 Oct 2026

FCA opens authorisation gateway for UK crypto firms, sets 28 February 2027 deadline

The FCA has opened applications for crypto firms seeking authorisation under the UK's new regulatory regime. This segment covers the two dates that matter, the four standards firms are assessed against, and the transitional position for applicants awaiting a decision when the regime goes live. If you advise a crypto business with UK exposure, the clock has started.

Crypto firms can apply for FCA authorisation from 30 September 2026; those continuing to operate should apply by 28 February 2027, before the regime starts on 25 October 2027.
Authorisation is assessed against four standards: consumer protection, safeguarding of customer assets, market integrity and financial resilience; firms that fall short will not be authorised.
Firms applying within the window may keep providing services, including new business, if no decision is made before the regime takes effect.

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 18 claims 13 Oct 2026

Two from Nexus advice firms plead guilty to fraud after clients lose £2m

A short item on an FCA criminal prosecution reaching guilty pleas. Two senior figures at two authorised advice firms have admitted defrauding four clients of £2m over four years, using false documents. The segment covers what was admitted, the firms' permissions, the FCA's intervention timeline and the confiscation action now coming.

Nelson and Stephens pleaded guilty on 12 October 2026 to defrauding four clients of £2m between January 2019 and January 2023 using false documents.
Nelson, the firms' director, also admitted a money laundering offence under the Proceeds of Crime Act; the FCA will seek confiscation.
The FCA restricted both Nexus firms from regulated activity on 25 January 2023; the High Court placed them into administration on 26 January 2023.

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 14 claims 12 Oct 2026

FCA wins confiscation orders against two men convicted over £1.5m crypto fraud

The FCA has secured Proceeds of Crime Act confiscation orders against two men already jailed for a cold-calling cryptoasset investment scam. This item covers what each must repay, the enforcement timeline, and the mechanism by which victims recover losses — a reminder of how long the asset-recovery tail runs after conviction.

Southwark Crown Court ordered Bedi to pay £603,404.28 and Mavanga £247,997.99 on 28 September 2026.
At least 65 investors lost £1,541,799 in a scheme run via CCX Capital and Astaria Group LLP between February 2017 and June 2019.
Non-payment within three months exposes Bedi to up to five further years' imprisonment and Mavanga up to two.

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