On 9 March 2026, the High Court placed Concept Capital Group (CCG) into administration. BTG are the administrators of the company. In July 2025, the FCA announced High Court proceedings against CCG and others over an alleged unauthorised investment scheme. CCG has been under a court order that temporarily froze its assets since then.CCG had promoted investments in static homes. CCG claimed these would be let to social housing tenants placed by local councils. Investors were promised fixed returns and told the scheme was backed by the UK Government, claims the FCA considers were false or misleading.While the administration was not initiated by the FCA, it has put the FCA’s High Court proceedings against CCG on hold. The administrators will take control of CCG and investors’ claims will be handled as part of the administration process. The FCA will support the administrators as needed and will continue to communicate with them.The FCA’s claim against the other defendants - Ian Anthony Elliott, Adrian Felix, Ayub Swaibu, Edmund Brew, Ernest Kargbo (also known as Ernest Moore), Raymondip Bedi (also known as Martin Swann) and Gateridge Consulting Limited - will continue.

Lenders and brokers in thesecond charge mortgagemarket need toconsiderhow theyadvise customers, assess affordability and charge fees. An FCA review has found that weaknesses in some firms’ practices could put borrowers, particularly those consolidating debt, at increased risk of financial harm.Second charge mortgages are often used by customers with high existing levels of debt and low financial resilience. The FCA’s review found examples of good practice across the sector but also issues that raise concerns about whether firms are meeting expectations, including under the Consumer Duty. The issues identified in the review include:Affordability assessments that appeared to overlook key living expenses.Advice that steered customers towards debt consolidation when it was not clear if it was appropriate.Inadequate record keeping. Unclear fees, often added to loans, making comparisons difficult.David Geale, executive director of payments and digital finance at the FCA, said:'The second charge market is relied on by people often already heavily in debt. It’s vital it works well, but we’ve found that standards are not always where they need to be. This needs to change.' The FCA is calling on all second charge firms to consider the findings carefully and take appropriate action. Brokers for the wider mortgage market should consider the findings, especially on record keeping and quality assurance, and whether they can make improvements.The regulator has continued its engagement with the firms included in the review to ensure shortcomings are addressed. While the regulator has already seen some of the market act on its calls to improve customer understanding, over the next year it will: Continue to work with firms to drive improvements across the second charge marketKeep monitoring second charge firms and take action where it has concerns – using the full range of regulatory powers where neededBegin to consider any mortgage policy changes needed to support good outcomes for consumers consolidating debt.Notes to editorsRead Second charge mortgages – improving outcomes for consumers.Second charge mortgages let homeowners borrow extra money using the equity in their home, without having to change their existing mortgage.Second charge mortgages make up a small proportion of the total mortgage market - typically less than 4% of regulated mortgage sales.We have publishedour new Regulatory Priorities Retail Mortgages report, which sets out key actions firms should take over the next year, plus the areaswe’llbe focusing on. The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.

On 23 January 2026, the FCA imposed requirements on Sendsii Ltd which prevent them from carrying out any regulated activity. The FCA has issued a First Supervisory Notice to Sendsii Ltd after HM Revenue and Customs (HMRC) suspended the firm’s registration on 9 October 2025. The suspension means that Sendsii Ltd no longer met the conditions required for its FCA authorisation under the Payment Services Regulations 2017.These requirements prevent Sendsii Ltd from carrying out any regulated activity, including money remittance, without the FCA’s prior written consent. The firm is required to return all funds held for or on behalf of existing customers in accordance with all relevant legal and regulatory requirements.Full details of the requirements can be found on the Financial Services Register.Consumers who need to send or receive money should use an alternative authorised payment firm. If you were expecting funds from Sendsii Ltd and have not received them, please contact our Supervision Hub.

Rajinder Gill and accomplices have been sentenced for their involvement in a sale-and-rent-back scheme. Mr Gill has been sentenced to two and a half years in prison for running a sale-and-rent-back scheme without being authorised and illegally providing credit agreements and mortgages. As accomplices in the scheme, Amandeep Heer received a community order for 2 years with a condition of 250 hours of unpaid work, and Jetinder Sandhu has completed 100 hours' unpaid work over 12 months (as a condition of a 15-month suspended imprisonment, which was suspended for 18 months).Through Secure Property Consultants Ltd, Mr Gill targeted homeowners in financial difficulty, claiming he could sell their homes quickly, offering them cash advances and saying they could stay in homes as tenants. Victims were encouraged to sell their houses at less than market value, while he charged excessive, confusing or hidden fees – totalling £925,233. Some were evicted from their homes. Steve Smart, executive director of enforcement and market oversight at the FCA, said:'Mr Gill and his accomplices preyed on vulnerable homeowners, turning financial difficulty into misery to fill their own pockets. Sale-and-rent-back comes with significant risks. If you are considering using it, always check the provider is authorised by the FCA.’In sentencing Mr Gill, His Honour Judge Weekes said 'there was a pattern of systematic exploitation’ and the 'victim impact [was] stark and troubling across the victims'. He added Mr Gill was 'dishonest and manipulative' and the sale-and-rent-back agreements 'particularly odious'.Once Mr Gill became aware of the FCA’s investigation he tried to conceal these activities and shut down the company, telling clients not to talk to the regulator.Mr Sandhu and Ms Heer, who was Mr Gill’s partner, supported the offending.Mr Gill pleaded guilty to 27 offences in relation to sale-and-rent-back agreements as well as credit agreements/mortgage contracts. He asked the court to consider a further 12 offences of the same nature at sentencing.Following a trial, Ms Heer was found guilty of committing 3 similar offences.The FCA has commenced confiscation proceedings to deprive the defendants of the proceeds of their crimes with a view to compensating victims.Mr Gill was disqualified from being a director of a company for 8 years.Consumers should check the FCA Firm Checker to make sure a firm and people they're dealing with are authorised.Notes to editorsRajinder Gill (date of birth: 27 October 1976) entered guilty pleas on 19 December 2025. Amandeep Heer (date of birth: 7 August 1980) was found guilty after a trial on 9 February 2026. They were both sentenced on 10 March 2026. Jetinder Sandhu (date of birth: 27 January 1979) was sentenced on 15 August 2024, having pleaded guilty on 7 June 2024 – this was previously subject to reporting restrictions.Mr Sandhu was sentenced on 15 August 2024 to 15 months’ imprisonment. This was suspended for 18 months with the conditions of completing 100 hours of unpaid work within 12 months and attending rehabilitation activity for up to 10 days.The misconduct occurred between 1 September 2014 and 7 November 2018.Sale‑and‑rent‑back schemes involve homeowners selling their property – often at a discount – with an agreement to stay in their home as tenants paying rent. They’re usually a last resort for people facing debt or repossession and are considered high risk, and firms offering them must be authorised by the FCA.In 2013/14, the FCA investigated Mr Gill for entering into sale-and-rent-back agreements with members of the public. In November 2013, Mr Gill signed an undertaking not to enter into, promote, administer, advise on or arrange sale-and-rent-back agreements, and agreed to remove all references to the products in adverts his companies placed in the media. In August 2014, he signed a further undertaking not to conduct any regulated activity without authorisation.Under Section 19 of the Financial Services and Markets Act 2000 (FSMA), a person cannot carry on a regulated activity in the UK unless they are FCA authorised or exempt (this is the General Prohibition). Any person who breaches Section 19 of FSMA is committing a criminal offence for which the maximum sentence is 2 years’ imprisonment.The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.

Speech by David Geale, executive director, payments and digital finance, and PSR managing director at the MoneyLIVE Summit 2026, London. ConsolidationRule 1 is ‘Out of clutter, find simplicity.’The Government announced its intention to consolidate the PSR into the FCA about a year ago. It was a decision we welcomed.Our work has always been complementary, and we made it work.As an economic regulator, the PSR is focused on getting the foundations right – the payment systems and infrastructure that enable the ecosystem to operate.And as the conduct authority, the FCA focuses on what sits on top – the delivery of the services and products consumers rely on.But, that separation was a product of its time. The world was different then – we needed the specific focus on competition, innovation and access in payments infrastructure that came from the PSR.Since then, both we and the market have evolved and grown. The ecosystem is too intertwined to treat parts in isolation.Consolidation helps us take a more joined-up approach.One of greater coordination, clearer responsibilities and smoother delivery for firms, who will no longer have to navigate two sets of front doors to get answers. And for us, one view across the ecosystem.Ahead of legislation, we have worked to find simplicity where we can.For example, many PSR colleagues have moved to the FCA as part of a phased transition and creation of new organisational structure. This allows us to maintain our momentum while realising the benefits of closer alignment.So that the regulation of payment systems continues, the PSR will stay in place, with its own governance, while its powers are transferred. We expect both the outcome of the Government’s consultation and a roadmap to the completed consolidation soon.However, already under our new structure, a single, joint payments horizon scanning team ensures our priorities across the FCA and PSR are aligned.So we can plan the work programme and areas of focus – together.This will change how we engage externally, but it is important to be clear: the PSR’s work will remain a core part of the FCA’s mission.And our objective to look across the ecosystem is as important as ever. Competition, access and innovation are essential components of making the market work well.And key in how we help the FCA be a smarter regulator and drive growth.

We have appointed 2 new senior leaders, further strengthening our capability across key areas of our remit. Chris Knight will join us in July 2026 as director of insurance within our Supervision, Policy and Competition (SPC) division. He joins the FCA from Legal & General, where he has been the group chief risk officer for the last 5 years and member of the Group management committee. Prior to this, he was CEO of Legal & General Retail Retirement for 3 years.David Lymburn joined the Payment Systems Regulator (PSR) on 23 February 2026 as interim deputy managing director. David brings over 15 years’ experience in financial services, including as chief operating officer and global payments programme director at Nordea Bank and payments roles at the Royal Bank of Scotland and Lloyds Banking Group. He will serve in this interim role while the permanent recruitment takes place.Sarah Pritchard, deputy chief executive, FCA, said:'We welcome Chris and David into their new roles. They bring considerable industry and leadership experience and will play a vital part in driving forward our strategic priorities – strengthening our capabilities, accelerating our journey to become a smarter regulator, and ensuring we continue to support economic growth and improve lives across the UK.'

We're concerned that HDH Investment Services Limited may have given unsuitable financial advice to some of its customers, potentially leading to financial loss. We recently placed restrictions on HDH Investment Services Limited (HDH). From 20 January 2026, HDH agreed to stop carrying out all regulated activities. This now means the firm can't give investment advice.HDH also agreed to write to all customers to explain what these restrictions mean for them. What customers should do nowIf you think you were given unsuitable advice, or you're unhappy with the service you received from HDH, you have the right to complain.We know this news may be worrying. If you have concerns, you can use our contact form to get in touch. If you're a customer of HDH and need financial advice, you should contact another FCA‑authorised financial adviser. You can find information on finding an adviser on MoneyHelper. You can also use the FCA Firm Checker to make sure a firm is authorised and has permission to provide the services you're looking for.Stay alert to scamsIf you're a customer of HDH, you may be contacted directly by the firm. However, if you're unsure whether a call is genuine, end the call immediately and contact them using the details on Firm Checker.You may also be contacted by the FCA. But if you're concerned about who you're speaking to, please do call us back on 0800 111 6768. Our team won't mind waiting for you to check. Find out more about how to spot fake FCA communications. People are being increasingly targeted by recovery room scams. This includes where fraudsters approach investors who have been given unsuitable advice, offering to help them for an upfront fee. Find out more about how to protect yourself from scams.

Speech by Lucy Castledine, director of consumer investments, at the TISA Inclusive Investing Conference 2026. Speaker: Lucy Castledine, director, consumer investmentsEvent: TISA Inclusive Investing Conference 2026Delivered: 4 March 2026Note: this is the speech as drafted and may differ from the delivered version.Reading time: 11 minutesKey points:Consumer investments are a cornerstone of the UK economy, with over 5,000 authorised firms and their representatives, serving 19 million adults – around a third of our population. Our sector safeguards the future of individuals and families up and down the country.Building a stronger investment culture is critical for consumers’ financial lives. We’re excited to work with firms on plans such as targeted support.For a strong investment culture, consumers need trust, confidence in good consumer outcomes, and reassurance in strong financial crime controls.Through all this, we recognise that the consumer investments landscape is changing – and we want to hear from firms.

John Wood Group PLC (Wood Group) has been fined £12,993,700 for publishing inaccurate information in its financial results. Following the poor performance of certain projects, Wood Group’s accounting judgements were inappropriately influenced by its desire to maintain previously stated financial results. Wood Group did not have adequate systems, controls or procedures to prevent this from happening.This resulted in Wood Group publishing inaccurate information in its full-year 2022 and 2023 financial results and the half-year 2024 results. The company failed to take reasonable care to ensure that its announcements about those results were not false or misleading.These issues came to light from November 2024 onwards. Wood Group’s share price fell by 78% by April 2025 and its shares were suspended in May 2025.Steve Smart, executive director of enforcement and market oversight, said:'Investors rely on accurate information to make decisions. Wood Group failed to provide this and fell well short of the high standards we expect of listed companies.'The FCA opened its investigation into Wood Group in June 2025 and concluded it within 9 months. This is an example of how the FCA is improving the pace of its enforcement investigations.Wood Group accepted the findings and so qualified for a 30% reduction in its financial penalty.Notes to editorsFinal Notice 2026: John Wood Group PLC (PDF)Wood Group agreed to resolve the case at an early stage and qualified for a 30% discount on the penalty imposed. Without this discount, the FCA would have imposed a financial penalty of £18,562,500 on Wood Group.The FCA announced its investigation of Wood Group in June 2025: FCA Press Release.The FCA has imposed the financial penalty on Wood Group for the following breaches:Listing Rule 1.3.3R (misleading information must not be published) by failing to take reasonable care to ensure that its announcements were not misleading, false or deceptive and did not omit anything likely to affect the import of the information; andListing Principle 1 (a listed company must take reasonable steps to establish and maintain adequate procedures, systems and controls to enable it to comply with its obligations)On 30 October 2025, Wood Group published its restated financial results for the full years 2022 and 2023, which included material adjustments arising from the misconduct described above.

We'd also streamline the scheme, so millions get compensation in 2026. We're considering over 1,000 responses to our proposals for a compensation scheme for motor finance customers who were treated unfairly.If we proceed with a scheme, we are likely to make several changes. If we do go ahead, we expect to publish final rules in late March. The timing of publication will be outside market hours and we'll confirm the date in advance. Final decisions on the scheme have not yet been made. But to help firms prepare and ensure consumers get any money owed promptly, we're setting out some details now on how we intend to streamline the consumer journey and make it smoother for firms to operate.Given the scale and complexity of the scheme and in response to feedback, we're likely to introduce an implementation period of 3 months, with up to 5 months for older agreements. Firms could choose to process claims under the scheme sooner.We would also streamline the process for consumers and firms.People who complain before the scheme starts would no longer be asked if they wish to opt out. Instead, within 3 months of the end of the implementation period, their lender would tell them whether they're owed compensation, and how much. Consumers receiving a redress offer would be able to accept it immediately, rather than waiting for a final determination. Firms would not be required to write to customers via recorded delivery. We would allow a range of channels that best meet consumers' needs with appropriate safeguards to prevent fraud. Even with an implementation period, streamlining the process means millions of people would receive compensation in 2026.Our advice remains that anyone concerned they weren't told about commission involved in their motor finance deal should complain now. Doing so means they should get any compensation sooner. There is no need to use a claims management company (CMC) or law firm, and those who do may lose over 30% of any compensation.We've cracked down on poor practice by FCA-regulated CMCs. Over 800 misleading adverts have been removed or amended since January 2024 and we've intervened with 5 CMCs causing harm: 2 reduced exit fees and 4 agreed to stop taking on new clients until they can show they comply with our rules.The likely changes to the scheme were supported by many consumer groups and firms that responded to our consultation. As well as providing a better experience for consumers, the changes would help keep the cost of delivering the scheme proportionate, supporting a well-functioning market for the millions of people that rely on it.

The latest report from the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) finds there is still room for improvement. The anti-money laundering supervisors of professional services firms are more effective than at any time since 2018. However, OPBAS remains concerned that their enforcement lacks the teeth to deter firms from falling short of minimum standards.OPBAS’s latest report found Professional Body Supervisors (PBSs) generally continue to demonstrate good levels of compliance. Yet some PBSs continue to perform poorly in their enforcement approach relative to other areas, and supervision could also be improved. OPBAS is concerned that for some PBSs, their dual role as both a membership organisation and a supervisor can hinder effective action.Mark Francis, director, specialists at the FCA, said: 'Fighting financial crime is a priority for the FCA. In recent years, OPBAS has driven progress in the way money laundering is tackled in the legal and accountancy sectors, but improvements are still required.’OPBAS is housed within the FCA and oversees 25 PBSs tasked with preventing financial crime in the accountancy and legal sectors.OPBAS, founded in 2018, has used an increasing range of tools to drive improvements among PBSs. Last year, OPBAS took its first enforcement action against a PBS that failed to meet its requirements under the Money Laundering Regulations.In 2025, the Government decided that the FCA will assume anti-money laundering (AML) and counter terrorist financing (CTF) supervision in the accountancy and legal sectors. This reflects the need to simplify the supervision of professional services, ensure more consistent oversight and improve efforts to identify and disrupt crime.

We are bringing forward a review of some aspects of the UK Listing Rules to consider how they apply to specific types of investment entities. As part of the Primary Markets EffectivenessReviewwe explored which types of investment entities could be eligible to be listed. Since introducing the new listingruleswe have heard from stakeholders that these eligibility criteria, particularlyregardingrisk-spreading, may be unduly restrictive. We will use this review to assess if changes should be made.As part of this review, we will also conduct targeted work to assess howourrules, in the context of company law, ensure that boards support strong shareholder rights and engagement and manage conflicts of interests.We plan to set out proposals in a consultation paper and to complete the work by the end of the year.

Firms can now apply for permission to provide targeted support. Targeted support is a once in a generation change that will help millions navigate their financial lives. From 6 April 2026, people’s banks, pension providers, or other financial firms that are authorised for targeted support can provide suggestions designed for groups of consumers with common characteristics. This will help them make important decisions across their pensions and investments.We want authorised firms to be ready to offer the new service as soon as the rules take effect. And, for these firms to take advantage of the reforms, to be bold and provide support for their customers.An important milestoneCurrently, consumers don’t have access to the help they need to make these important decisions. We estimate around 23 million consumers are currently underserved by the markets for advice and guidance.Targeted support will help fill the gap between generic guidance and individualised advice and help consumers access the support they need, at a cost they can afford, when they need it, so that they can make informed financial decisions.The opening of the targeted support authorisations gateway marks an important milestone in our work to help consumers navigate their financial lives.Support serviceWe launched our Pre-Application Support Service (PASS) for targeted support last year and have engaged with a range of firms so that they understand what is expected for a good quality and complete application for the targeted support regulated activity.We encourage firms with questions about the authorisations process to engage with us through the PASS. Firms can submit a PASS form via Connect.We welcome the engagement we have had so far with firms developing their targeted support propositions and look forward to this continuing engagement.How to applyFirms can submit applications for targeted support permissions via Connect.Find out more.

Speech by Nikhil Rathi, FCA chief executive, at the Goldman Sachs EMEA Head of Trading conference 2026. And as we roll with the punches, we also shouldn’t sell ourselves short.We gained ground last year - London just one point behind New York in the latest Global Financial Centres Index.There is understandable focus on equities market share and listings, where we have delivered far-reaching regulatory reforms.But on FX trading, international debt issuance, OTC derivatives, parts of commodities markets - we lead the global pack.Also seeing, as one commentator recently described it, a 'quantitative trading renaissance'.These aren’t flukes.Market activity agglomerates in locations where execution is reliable, infrastructure is resilient, talent at all levels is strong, and the rulebook is credible, pragmatic and responsive to change.

The Payments Vision Delivery Committee (the Committee) has published the Payments Forward Plan (the Plan). Read the Plan on GOV.UKThe Committee comprises:HM TreasuryBank of EnglandFinancial Conduct AuthorityPayment Systems RegulatorThe Plan sets out upcoming initiatives across retail and wholesale payments, including elements of digital assets. Recent publications on open banking, stablecoins and contactless limits, alongside the initiatives in the Plan, show the high level of activity across the sector.The Plan provides clarity on what is coming and when, helping firms plan ahead and focus on innovation. The Plan sets out actions to deliver the Government’s National Payments Vision of a trusted, world-leading payments ecosystem built on next-generation technology, offering consumers and businesses a choice of payment methods.The Committee will continue to consider our collective impact on firms and support competition, innovation and economic growth.Going forwards, the Committee has agreed to add an enhanced focus on payments to the Regulatory Initiatives Grid in its first 2027 publication.

The FCA has chosen 4 companies to test how their stablecoin services work with proposed regulation in a safe environment. The stablecoins cohort is part of our commitment to supporting growth and innovation in UK financial services. 20 applications were received and the FCA has chosen the following firms:Monee Financial TechnologiesReStabiliseRevolutVVTXThe Regulatory Sandbox programme allows firms to trial stablecoin products in real world conditions with appropriate safeguards. It will help the FCA assess its proposed policy in a live environment and ensure future rules are clear, effective and support responsible innovation.The FCA’s testing will primarily focus on stablecoin issuance. The 4 selected firms’ proposals represent a range of stablecoin use cases, including payments, wholesale settlement and crypto trading. Each firm will receive feedback from FCA specialists while helping to shape the UK’s regulatory approach.Matthew Long, director of payments and digital assets at the FCA, said:'We are supporting UK stablecoin issuers to ensure they can be trusted for payments, settlement and trading. It will benefit consumers and financial transactions and help to deliver the FCA's strategy and the Government's National Payments Vision.’The testing is part of the FCA’s broader work to enable innovation across UK financial services and complements other innovation initiatives such as the Digital Securities Sandbox (DSS).Testing begins in Q1 2026 and the findings will help shape the UK’s final stablecoin rules later in 2026.Notes to editorsThe FCA received 20 applications from firms wishing to test stablecoins in its Regulatory Sandbox. The FCA has previously set out the timeline for crypto regulation in its crypto roadmap. The FCA has consulted on key topics such as stablecoin issuance and cryptoasset custody (CP25/14), prudential rules (CP25/15 and CP25/42), the application of the FCA Handbook (CP25/25 and CP26/4), conduct of business and high-level standards (CP25/40) and admissions and disclosures and market abuse (CP25/41). The consultations on the future regulatory regime for cryptoassets are substantively complete, and the FCA will publish its Policy Statements this summer. Find out more about existing rules firms must comply with. All firms will need to be authorised under the new regime once the new regime goes live in October 2027. The application gateway for firms who want to be authorised to carry out crypto activities in the UK opens in September 2026 and now is the time to start getting ready. The FCA is hosting authorisation-focussed webinars to help prospective applicants understand its expectations. The first one is available to watch on demand and the next one will be on 18 March, focusing on the FCA’s anti-money laundering rules.The Prudential Regulation Authority issued a Dear CEO letter on innovations in the use by deposit-takers of deposits, e-money and regulated stablecoins.The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.

Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the FCA. The FCA is consulting on designating certain credit reference agencies (CRAs). If a lender shares credit information with one designated consumer CRA, it would be required to share it with them all.The changes aim to close gaps in consumers’ credit files and ensure these more accurately reflect people’s financial circumstances.Alison Walters, director of consumer finance at the FCA, said: 'Access to affordable credit relies on good-quality data – it’s vital in helping consumers navigate their financial lives. That’s why we want to make sure everyone’s credit information is as full and accurate as possible.'CRAs collect personal financial data – including credit repayment histories – to provide lenders with information that helps inform lending decisions.Where the information CRAs hold is limited, people may face barriers to accessing credit, or be exposed to increased risks of unaffordable lending, errors or fraud. The FCA’s proposals aim to improve how credit information is shared across the system, benefitting both consumers and firms.The consultation closes on 1 May 2026. Consumers can visit MoneyHelper for information on how to check their credit report for free.Notes to editorsRead CP26/7: Credit Information Market Study: Proposed approach to implementing FCA remedies.The consultation follows the Credit Information Market Study which set out measures to improve the credit information market.The FCA is proposing that credit and mortgage firms who currently share consumer credit information with at least one of the credit reference agencies to be designated by the FCA, will be required to share the same information with the other designated agencies.There are additional proposals on the quality and accuracy of information shared about consumers and on firms marking county court judgments (CCJs) or Decrees as satisfied (with the relevant court or Registry Trust), where a consumer has repaid the debt.The final report was published in December 2023 and proposed a package of remedies. This included FCA-led remedies, some of which are set out in this consultation. The final report also proposed reforms to industry governance arrangements and other industry-led remedies. A new Credit Information Governance Body (CIGB) has now been established, while industry participants have also commenced work on the industry-led remedies.Find out more information about the FCA.

We've launched our new Regulatory Priorities reports, starting with the insurance sector. This marks a new approach that will help to transform our supervision and streamline regulation.We expect regulated firms to follow the rules and stay informed about any changes. This is important for maintaining a safe and resilient market. Our mission to be a smarter regulator means reducing burden where we can, so that firms can get the information they need as efficiently as possible.Our Regulatory Priorities publications are part of this drive to simplify things. They replace our portfolio letters, which set out our expectations for firms in various markets.There were more than 40 of these letters, with some firms needing to work through several to understand what they needed to do. We know these created an extra layer of complexity, and we’ve responded to these concerns.What firms can expectThere are just 9 of the new publications, covering each sector at a higher level. We’ve designed them to make it easy for firms to get to the information that affects them directly, with the right links to the detail they need.We’ve tested our approach with a pilot for insurance firms, which has helped us make sure the documents are easy to use. We’ve aimed to have clear content and easy navigation, summing up each of our priorities on one page with clear actions for firms.The reports also set out what’s coming up in each sector - making them a succinct one-stop shop for regulatory information.We’ll publish them more frequently too, with an annual cycle - so it’s easier for firms to stay up to date with policies and issues as they develop.The purpose remains the same though. Firms’ boards and chief executives should read these reports carefully, review the priorities we’ve set out – and act where they need to.We want to keep the conversation going about how we can streamline our regulation and simplify our communication, letting firms spend more time serving their customers and creating growth. We hope these new reports will be part of that drive and are keen to know how they work for firms.

We have signed a Memorandum of Understanding (MoU) with the Independent Football Regulator (IFR). The MoU establishes how the 2 organisations will work together and support effective regulation where football and financial services intersect.It also sets out a high-level framework for principles for cooperation between the IFR and the FCA.Read the MoU (PDF)

Seven social media influencers have been sentenced at Southwark Crown Court for their role in the promotion of an unauthorised foreign exchange trading scheme. Biggs Chris, Jamie Clayton, Lauren Goodger, Rebecca Gormley, Yazmin Oukhellou, Scott Timlin and Eva Zapico all pleaded guilty to one count of issuing unauthorised financial promotions.The outcomes were:Lauren Goodger was fined £3,750 and ordered to pay costs of £5,778.18.Biggs Chris was fined £600 and ordered to pay costs of £1,000.Jamie Clayton was fined £820 and ordered to pay costs of £1,000.Rebecca Gormley was given a conditional discharge and ordered to pay costs of £2,866.42.Yazmin Oukhellou was fined £974 and ordered to pay costs of £1,000. Scott Timlin was fined £938 and ordered to pay costs of £1,000.Eva Zapico was given an absolute discharge and ordered to pay costs of £1,770.44. Steve Smart, executive director of enforcement and market oversight at the FCA, said:'These influencers betrayed the trust of those who followed them. We’ll continue to work with responsible influencers and go after those who put the financial wellbeing of their followers at risk.'Notes to editorsThe defendants’ dates of birth are as follows:Biggs Chris (DoB 15/05/1992).Jamie Clayton (DoB 18/11/1991).Lauren Goodger (DoB 19/09/1986).Rebecca Gormley (DoB 18/04/1998).Yazmin Oukhellou (DoB 03/05/1994).Scott Timlin (DoB 26/04/1988).Eva Zapico (DoB 23/07/1998).Reporting restrictions are in place. Contact the FCA press office if you want a copy.The combined following of the Instagram accounts of these individuals was 4.5 million.Breaching the General Prohibition is an offence under Sections 19 and 23 of the Financial Services and Markets Act 2000 punishable upon conviction by a fine and/or up to 2 years’ imprisonment.Communicating unauthorised financial promotions is an offence under Sections 21 and 25 of the Financial Services and Markets Act 2000 punishable upon conviction by a fine and/or up to 2 years’ imprisonment.Contracts For Difference (CFDs) are high-risk derivatives. The FCA has previously said that 80% of customers lose money when investing in CFDs because of the risks. They are often highly leveraged, which means they use debt to try and amplify returns, which can result in investors losing more than they invested. In the UK, the FCA has imposed restrictions on how CFDs and CFD-like options can be sold and marketed to retail customers. The FCA has been carrying out work to address consumer harm in the UK in this sector.The FCA has published finalised guidance on financial promotions on social media to clarify our expectations for when firms and influencers use social media to communicate financial promotions, and to address emerging consumer harm that we’ve seen arising from use of social media.Find out more information about the FCA.