FCA to Cut 13 Fields From UK Transaction Reports
The FCA projects £108 million in annual savings. The effect of smaller reports on market-abuse surveillance remains untested and depends on retained data and firms' controls.
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Finance · Regulation
FCA, Bank of England, banking, payments and the UK capital markets.
38 Firms Joined SIMEX26. Recovery Times Remain Undisclosed
The Bank of England says 38 major financial firms and market infrastructure operators joined a global cloud disruption exercise. Its account describes collective response, while leaving service continuity, recovery times and provider participation unanswered.
The PRA Would Put 128 Thresholds On A One-Way GDP Ratchet
Five-yearly indexation could preserve regulatory headroom for growing firms, but one economy-wide measure will move reporting, regime and flexibility boundaries that do not all track GDP.
FCA’s 97.9% Score Hides Five Weak Authorisation Areas
A lower green threshold and corrected AML clocks make the aggregate look cleaner than the category table. Applicant volumes and actual wait times decide whether that matters.
Nine Firms Hold Targeted Support Permissions. The FCA Has Not Published Their Reach.
At least four consumer propositions are visibly live, but permissions, survey use and funded accounts remain different measures of distribution.
The FCA Is Preparing for 60,000 AML Firms. Fifty-Six Million Daily Records Do Not Prove Enforcement.
The transfer has reached the Commons and the FCA is targeting the end of 2028, but data throughput and exploratory agentic supervision do not show whether cases will close faster or sanctions will become more consistent.
The FCA Will Judge Firms' Live AI in 2027 Without a Single New AI Rule
The regulator's second AI Live Testing cohort, from Barclays and Lloyds to UBS and Experian, is running real models in UK markets. The FCA's verdict lands in an evaluation report in early 2027, built on Consumer Duty and senior-manager accountability rather than a bespoke AI rulebook.
Britain's pension reform can force poor funds to move savers out, but the test and the teeth are still unwritten
The Pension Schemes Act 2026 is law and the megafund story dominates, but the sharper lever is the Value for Money framework: a four-tier rating, from dark green to red, that can close a poor default and move savers out without their consent. Its rules are still in consultation, the teeth do not bite until around 2029, and the test itself is not yet finalised.
The FCA's Conduct Rules Used to Police Client Money. Now They Reach How You Treat a Colleague.
From 1 September a single new rule, COCON 1.1.7FR, extends the FCA's conduct code from client money and market behaviour to serious bullying, harassment and violence between colleagues, and it reaches thousands of non-bank firms that only banks faced before. The change plugs workplace conduct into fitness-and-propriety tests, breach reporting and portable regulatory references.
Basel 3.1 Reaches UK Banks in January 2027 on Terms the US and EU No Longer Share
The Prudential Regulation Authority has finalised its Basel 3.1 rules for a 1 January 2027 start, with the fully loaded 72.5 per cent output floor phased in by 2030 and the market-risk internal models deferred to 2028. The rulebook meant to be identical everywhere now looks distinctly British, because Washington has reopened its own version and Brussels has delayed the trading-book rules.
Forced refunds cut UK APP fraud by £73m in a year, and moved the bill onto payment firms
The PSR's mandatory reimbursement regime, one year on: an independent evaluation puts in-scope fraud losses down about £73m a year and roughly 35,000 fewer scams, for a short-term net benefit of £17m to £29m. The cost of getting there has moved onto banks and payment providers, split 50/50 between sending and receiving firms.
Britain Redraws the Line Between the FCA's Rules and the Ombudsman's Discretion
A policy statement published on 11 August 2026 finishes a quiet but structural reform: the Financial Ombudsman Service will stop acting as a second, looser standard-setter, and complaints will be judged against the rules the regulator actually wrote.
Millions of UK Directors Face a Verification Deadline That Bites Before November 2026
Identity verification under the Economic Crime and Corporate Transparency Act 2023 is compulsory for the six to seven million people already registered as UK company directors and persons with significant control. The transition period closes on 18 November 2026, but because each person's deadline is tied to their company's confirmation statement, most fall due well before then.
FCA motor finance redress scheme goes operational on Monday, starting Britain's biggest payout since PPI
The FCA's motor finance redress scheme hits its central operational gate on Monday 31 August, the deadline for lenders to have Scheme 1 running, opening Britain's biggest consumer payout since PPI at roughly 9.1 billion pounds across 12.1 million agreements.
The Treasury Wants Ring-Fenced Banks to Do the Business the Wall Was Built to Stop
The Treasury's consultation on ring-fencing reform, open until 8 September, proposes a Growth Allowance that would let retail banks carry up to 10 per cent of their credit-risk capital in the wholesale and investment business the post-2008 wall was built to keep out.
The FCA Moves to Thin Its Insurance Conduct Rulebook
A second phase of the FCA's insurance simplification would narrow where its conduct rules bite, strip out several disclosures and redenominate cover limits into sterling. The consultation closes on 4 September, and the changes are meant to land with almost no transition.
UK Borrowing Is Running £2.3bn Above the OBR Forecast, Tightening the Autumn Budget
Public sector net borrowing was £1.8 billion in July, up £0.7 billion on a year earlier, and cumulative borrowing since April now sits £2.3 billion above the OBR forecast, narrowing the Chancellor's room before the autumn Budget.
The UK Rebuilds Company Climate Reporting on the Global ISSB Standard, With Listed Firms Filing From 2027
Britain has published its own sustainability reporting standards, built on the global ISSB baseline, and the FCA is preparing to bolt them onto the listing rules, so that from 2027 roughly 515 large UK companies report climate risk against a single international benchmark rather than the older TCFD framework, with Scope 3 and wider sustainability disclosure phased in behind it.
Every In-Scope UK Pension Scheme Must Connect to the Dashboards Ecosystem by 31 October 2026
By 31 October 2026 every FCA-regulated personal pension provider and every occupational scheme with 100 or more relevant members must be connected to the pensions dashboards ecosystem, the single statutory endpoint of a programme that is now as much a test of data quality as of plumbing.
Basel 3.1 Goes Live for UK Banks in January 2027 as the Capital Floor Climbs to 72.5 Per Cent by 2030
From 1 January 2027 Britain's banks move onto Basel 3.1, the final tranche of the post-2008 capital rulebook. The framework's output floor then climbs each year, from 50 per cent in 2027 to the full 72.5 per cent in 2030, setting a capital target that keeps rising for the rest of the decade.
Senior Bankers Can Take 2026 Bonuses From Year One as the Seven-Year Deferral Ends
The 2026 performance year is the first to fall wholly under a relaxed UK pay regime that cuts the top bonus deferral from seven years to four, lets the most senior bankers vest awards from year one, and scraps the old cash-versus-shares split.
The PRIIPs KID Is Dead: What Replaces It on 8 June 2027
FCA policy statement PS25/20 retires the PRIIPs KID and the UCITS KIID, replacing both with a single Consumer Composite Investments product summary that becomes mandatory on 8 June 2027.
Companies House Stops Taking the Register on Trust
The Economic Crime and Corporate Transparency Act recasts Companies House from a passive registry into a gatekeeper. Compulsory identity verification for six to seven million directors and owners falls due on 18 November 2026, a failure-to-prevent-fraud offence is already live, and the one filer deadline that slipped now lands on the same date.
Bullying and Harassment Become a Conduct Rule Breach for 37,000 UK Firms on 1 September
From 1 September 2026 the FCA turns non-financial misconduct, bullying, harassment and violence against colleagues, into a formal Conduct Rule breach across roughly 37,000 non-bank financial firms. It is the biggest extension of the conduct regime beyond the banks since SM&CR reached solo-regulated firms in 2019.