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We’re continuing to make data reporting more proportionate by reducing and removing regulatory returns for 95% of all authorised firms. 36,000 firms will now no longer need to submit a nil return when completing certain tasks relating to disciplinary action (REP008), saving them time and... Read More
We have appointed Will Self as chair of our Smaller Business Practitioner Panel. He will take up the role as chair from 1 September 2025. Following a competitive interview process, Will has been appointed to lead the independent panel in providing advice and representing the... Read More
We’re making it easier for firms to find up-to-date supervisory communications on our website. We’re simplifying our multi-firm and thematic reviews and labelling those published before 2022 as ‘historical’, which will affect around 80% of the reviews. Historical documents will remain publicly accessible, using existing... Read More
Motor insurers have changed their settlement and compensation practices after the FCA found some insurers had short-changed customers on stolen or written off vehicle claims. It means that an estimated 270,000 motorists are expected to receive £200m in compensation for historic claims that were underpaid,... Read More
An individual has been convicted for breaching the Data Protection Act, but acquitted of fraud and unauthorised business offences, following a prosecution brought by the FCA. On Monday 1 September, Taunton-based Nicholas Harper, aged 26, pleaded guilty to encouraging or assisting an offence to be... Read More
On 2 September 2025, Scott & Mears Credit Services Limited (SMCS), a debt collection firm, went into administration. Louise Longley and Julian Pitts of Begbies Traynor (Central) LLP were appointed as Joint Administrators. SMCS is authorised and regulated by the FCA to provide debt-collecting services.... Read More
Consumers could benefit from the convenience of contactless payment when making larger payments, under proposals being consulted on by the FCA. The FCA wants to give card providers the flexibility to decide the right limit for them and their customers.Many card providers already offer customers... Read More
Charles Hunter, Kayan Kalipha and Luke Desmaris appeared before Westminster Magistrates’ Court, each individually charged with an offence relating to their social media posts. The individuals – often referred to as ‘finfluencers’ – are alleged to have encouraged social media followers to invest in foreign... Read More
Speech by Steve Smart, joint executive director of enforcement and market oversight, at the 1LoD Financial Crime Summit. Financial crime is still too often seen as a lesser offence. A small-scale scam here, a phishing email there. Non-violent, technical, almost victimless.After more than 30 years... Read More
The FCA is launching a £1 million campaign, letting motor finance customers know they don’t need to use a claims management company (CMC) or law firm to access an industry-wide compensation scheme the regulator is proposing. As part of the campaign, which will feature radio... Read More