The FCA’s direction of travel is clear: earlier intervention, stronger deterrence, and greater focus on individual accountability. In its recent consultation on penalty and decision-making policies, the FCA is proposing targeted changes including: • raising the minimum penalty for the most serious individual market abuse cases from £100,000 to £150,000 • making clear that penalties for wealthier individuals may be increased for deterrent effect • clarifying how deferred bonus

The FCA’s Chief Executive, Nikhil Rathi, has warned that AI is moving faster than the law. That matters because this is not a general technology debate. It is coming directly from the head of the UK financial regulator, in the context of how artificial intelligence may affect financial services, consumers, markets and financial crime. The immediate issue is whether regulation can keep pace with rapidly developing AI tools. But the wider point is just as important. Financial s

The FCA’s latest thematic review highlights major shortcomings in how UK firms assess financial-crime risk. Many Business-Wide Risk Assessments (BWRA) and Customer Risk Assessments (CRA) are still too generic, poorly evidenced, or disconnected from real-world controls. Key gaps identified include: • Risk assessments not tailored to the firm’s actual products, customers or exposure. • Weak links between BWRA findings and monitoring/testing. • Senior management focusing heav

Big news from the Financial Conduct Authority (FCA) – they’re sharpening their fraud prevention toolkit. The regulator announced it will now have the power to cancel or amend a firm’s permission within 28 days if the firm fails to take appropriate action after a warning. Key highlights: Firms must now prove they are actively using the regulated activity they’re authorised for — or risk losing that permission. The move is aimed at tackling impersonation and cloning of authoris