Latest News - Complyport UK Consultancy Service

ESG Ratings: Preparing for the FCA’s Proposed Regulatory Framework

The Financial Conduct Authority (FCA) has launched Consultation Paper CP25/34: ESG ratings: proposed approach to regulation, marking a pivotal moment in the UK’s regulatory oversight of Environmental, Social and Governance (ESG) data and ratings. Following recent legislation from HM Treasury, ESG ratings now fall within the UK’s regulatory perimeter. This reflects the government’s commitment to improving transparency, credibility and [...]

CP25/36: Practical Implications for Professional Client Categorisation and Transitional Requirements

The FCA’s  CP25/36: Simplifying client categorisation and conflicts of interest rules presents materially significant changes, despite an ostensibly limited scope. While the proposals aim to streamline conflicts rules, introduce a high-net-worth route to elective professional status, and reinforce protections against inappropriate retail opt-outs, the most substantive impact lies in the transitional arrangements. For firms, this is not [...]

FCA Simplifies Insurance Rules Under PS25/21

The Financial Conduct Authority (FCA) has published PS25/21: Simplifying the insurance rules, finalising a series of reforms aimed at reducing unnecessary complexity in the regulatory framework for insurers, intermediaries and firms providing funeral plans, while maintaining appropriate protections for consumers. These reforms respond to feedback received on Consultation Paper CP25/21 and align with the FCA’s broader agenda to modernise insurance regulation, [...]

PS25/18: Changes to Handling Rules for Motor Finance Complaints

In PS25/18: Changes to handling rules for motor finance complaints, the FCA confirms further temporary changes to the complaint handling rules for motor finance complaints. These changes are designed to manage how firms deal with complaints linked to commission arrangements in motor finance agreements, while the FCA finalises its position on a proposed industry-wide [...]

The FCA Opens the Door to Tokenised Fund and Asset Management Models

Innovation is driving change and competition in financial services. The Financial Conduct Authority (FCA) is laying a new regulatory foundation for the new age of financial services by focusing on tokenised funds. In its recently published Consultation Paper, CP 25/28: Progressing Fund Tokenisation, the FCA is sending a message that it is time to modernise [...]

FCA Authorisations: Increased Scrutiny of Payments Firms at the Gateway

Following on from my recent reflection on my ‘Greatest Hits’, I’ve been asked to revisit another of my key topics: FCA authorisations, with particular focus on the payments sector. Having spent many years managing authorisations teams at the Financial Conduct Authority (FCA), most notably the Payments team, I have a particular insight into [...]

FCA Focus on Payments Firms’ Use of Agents and Distributors

As part of its ongoing scrutiny of compliance standards among payment and e-money institutions, the Financial Conduct Authority (FCA) continues to refine its supervisory expectations in priority areas. These include financial crime controls, safeguarding customer funds, operational resilience, governance and the Consumer Duty. A particular area of focus is the use of [...]

New Year, New Regulation for EMIs

With effect from 1 January 2026 the UK formally adopts the latest version of the Organisation for Economic Co-operation and Development’s (OECD’s) Common Reporting Standards (CRS) (often referred as “CRS 2.0”) under HM Revenue and Customs (HMRC)’s recently updated International Tax Compliance (Amendment) Regulations 2025. This update is aimed at improving the effectiveness of the UK’s implementation of the existing CRS [...]

The Change in Control Regime: A Practical Guide for Firms and Investors

The UK’s Change in Control (CiC) regime has been the subject of many articles over the years, and that’s just from myself! But, if something is worth saying, it’s worth repeating. In this context, it concerns the continued attraction of the CiC process as a route to obtaining regulatory authorisation in the UK. This is particularly relevant [...]

Creating a Provisional Licences Authorisation Regime: An Update Worthy of the Name?

His Majesty’s Treasury (HMT) has published a Policy Update following its commitment in the Regulatory Action Plan of March 2025 to introduce a “provisional licence regime”, aimed at reducing regulatory burdens for firms seeking authorisation by the Financial Conduct Authority (FCA). The March announcement did not attract significant attention, so [...]

FCA Review: Data Quality in MIFIDPRU Reporting

The Financial Conduct Authority (FCA) recently published the Prudential regulatory reporting by MIFIDPRU investment firms – data quality review and this has highlighted both areas of strong practice and aspects requiring improvement. Between January 2024 and March 2025, data submitted by approximately 3,800 firms revealed that, while most firms have a solid understanding of reporting requirements, persistent issues in data quality could impact the accuracy [...]

FCA Publish Consultation Paper on Proposed Changes to Fees, Levies and Free-Block Structure

The Financial Conduct Authority (FCA) in conjunction with the Prudential Regulation Authority (PRA), has published CP25/33: Regulatory fees and levies: policy proposals for 2026/27. The FCA and PRA are funded through fees and levies charged to regulated firms and levy-payers, including those contributing to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS). [...]

FCA Publishes Consultation Paper on Improving the UK Transaction Reporting Regime

The Financial Conduct Authority (FCA) has published Consultation Paper CP25/32: Improving the UK transaction reporting regime, outlining proposed changes to streamline transaction reporting requirements and enhance market integrity. Transaction reports are essential for detecting market abuse, preventing financial crime, monitoring market functioning and supporting regulatory supervision and crisis responses. This consultation is relevant to MiFID investment firms, credit institutions, trading venue [...]

UK Transition to T+1 Settlement: What Firms Need to Know

To align with other major global markets, the UK is preparing to move to a T+1 securities settlement cycle on 11 October 2027, reducing the current T+2 timeframe. This means that when a security is traded, settlement must occur within one business day rather than the current two-day cycle. The aim is to enhance market efficiency, reduce operational [...]

FCA Publishes Latest Complaints Data: Key Insights for Firms

The Financial Conduct Authority (FCA) publishes Complaints Data twice a year, in April and October, providing valuable insight into how financial services firms are managing customer complaints. Each release contains both firm-level information and aggregate market-wide statistics, capturing the vast majority of complaints reported across the UK. For those seeking further data, additional information is available from the Financial Ombudsman Service. The latest publication, covering [...]

Companies House Launches Mandatory Identity Verification: What It Means for Your Firm

Companies House has confirmed that, from 18th November 2025, it has rolled out mandatory identity verification for directors and People with Significant Control (PSCs) of UK companies. This phased rollout, running over 12 months, is a major step forward in improving transparency, protecting businesses and reducing fraud. Identity verification requirements for limited partnerships, corporate directors of companies, corporate [...]

EBA Report on AML/CFT Supervision: Strengthening Banking Sector Resilience

The European Banking Authority (“EBA”) published its Final Report on Competent Authorities’ Approaches to the Anti-Money Laundering (“AML”) and Countering the Financing of Terrorism (“CFT”) Supervision of Banks (EBA/REP/2025/27) in October 2025, following reviews of 40 National Competent Authorities (“NCAs”) from 2018 to 2024. The report highlights substantial progress in supervisory strategies, tools, and cooperation mechanisms, while [...]

UK Government Consults on Major Reform of AML/CTF Supervision Framework

The UK Government has launched a fresh consultation, titled “Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) Supervisory Reform: Duties, Powers and Accountability” which sets out proposals to overhaul how professional services firms (legal, accountancy, trust and company service providers) are supervised for Anti-Money Laundering and Counter-Terrorist Financing (“AML/CTF”) compliance. This marks a significant step towards [...]

FCA Review: Insights into Business-Wide and Customer Risk Assessments

The Financial Conduct Authority (FCA0 recently conducted a multi-firm review focusing on risk assessment processes and controls in firms. . The review provides valuable insights and practical examples of both good and poor practices for firms across the financial services sector. It forms part of the FCA’s broader financial crime supervisory work, underpinning its 2025–2030 strategy. The FCA assessed Business-Wide Risk Assessment (BWRA) and Customer Risk Assessment (CRA) processes through [...]

FCA Review of the UK Pure Protection Insurance Market

The UK pure protection market, covering products like term assurance, critical illness cover, income protection and whole of life insurance, plays a vital role in safeguarding households against financial shocks from death, illness, or incapacity. According to the Financial Conduct Authority (FCA)’s MS24/1.3: Structure of the UK pure protection market for retail [...]

Category: Latest News

ESG Ratings: Preparing for the FCA’s Proposed Regulatory Framework

CP25/36: Practical Implications for Professional Client Categorisation and Transitional Requirements

FCA Simplifies Insurance Rules Under PS25/21

PS25/18: Changes to Handling Rules for Motor Finance Complaints

The FCA Opens the Door to Tokenised Fund and Asset Management Models

FCA Authorisations: Increased Scrutiny of Payments Firms at the Gateway

FCA Focus on Payments Firms’ Use of Agents and Distributors

New Year, New Regulation for EMIs

The Change in Control Regime: A Practical Guide for Firms and Investors

Creating a Provisional Licences Authorisation Regime: An Update Worthy of the Name?

FCA Review: Data Quality in MIFIDPRU Reporting

FCA Publish Consultation Paper on Proposed Changes to Fees, Levies and Free-Block Structure

FCA Publishes Consultation Paper on Improving the UK Transaction Reporting Regime

UK Transition to T+1 Settlement: What Firms Need to Know

FCA Publishes Latest Complaints Data: Key Insights for Firms

Companies House Launches Mandatory Identity Verification: What It Means for Your Firm

EBA Report on AML/CFT Supervision: Strengthening Banking Sector Resilience

UK Government Consults on Major Reform of AML/CTF Supervision Framework

FCA Review: Insights into Business-Wide and Customer Risk Assessments

FCA Review of the UK Pure Protection Insurance Market

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