The FCA has issued finalised guidance for firms on how to apply a proportionate and risk-based approach to UK politically exposed persons (PEPs), their relatives and close associates for anti-money laundering purposes.

MORE INFORMATION +
Source: FCA
Date: 4 July 2025

The FCA has welcomed the recommendations in the CBA Panel’s Interim Annual Report and has issued a stand-alone response.

MORE INFORMATION +
Source: FCA
Date: 3 July 2025

The FCA has published the minutes from its board meeting held on 22 May. The board discussed proposals for the appointment of a new Chair of the FOS, with the current Chair stepping down at the end of their tenure on 1 August

MORE INFORMATION +
Source: FCA
Date: 3 July 2025

Serious bullying and harassment in financial firms qualify as misconduct, under rules confirmed by the FCA. The regulator has clarified its expectations in order to deepen trust in financial services.

MORE INFORMATION +
Source: FCA
Date: 2 July 2025

Sarah Pritchard, Deputy Chief Executive, spoke at the Investment Association’s Private Markets Summit. Sarah said private markets are growing in importance and have significant potential to drive innovation and economic growth.

She added that supporting this effort reflects the FCA’s shift towards outcomes-focused regulation: giving firms more freedom to innovate, while making sure investors have the clarity they need to make informed decisions.

MORE INFORMATION +
Source: FCA
Date: 2 July 2025

Jessica Rusu, FCA Chief Data, Information and Intelligence Officer, delivered a speech at the AI and Digital Innovation Summit as part of City Week 2025.

She said innovation is central to the FCA’s new strategy and will help it deliver on all four of the pillars including growth. She added that the regulator is already seeing firms that want to come and test through the Supercharged Sandbox.

MORE INFORMATION +
Source: FCA
Date: 1 July 2025

The Financial Ombudsman Service (FOS) has published its annual complaints data. In the last financial year, consumers lodged 305,726 complaints about financial products with the FOS. The last time it received more complaints was during the PPI issue in 2018/19 (388,392).~

The FOS saw significant rises across most of the main product complaint areas – with some issues and products at their highest ever recorded level. This includes complaints about motor finance commission, fraud and scams, and credit cards.

The FOS also published its Annual Report and Accounts which can be read here.

MORE INFORMATION +
Source: FOS
Date: 2 July 2025