In briefBullseye Financial Ltd enters administration
SummaryBullseye Financial Ltd entered administration on 23 October 2026, with Robert Young of Azets Holdings Limited and Matthew Haw of RSM UK Restructuring Advisory LLP appointed as joint administrators. The FCA-authorised firm served only professional investors and agreed on 11 March 2026 to stop carrying out any regulated activity. The notice provides contact details for customers and warns about fraudsters posing as the firm or its administrators.
In briefChandler King (City) Limited Enters Creditors' Voluntary Liquidation
SummaryChandler King (City) Limited was an FCA-authorised independent financial adviser covering investments and pensions. It entered creditors' voluntary liquidation on 17 September 2026, with Grace Jones and Karyn Jones of Parker Andrews appointed as joint liquidators. The liquidators will assess client money and custody assets and work with the Financial Services Compensation Scheme (FSCS), which covers eligible clients up to £85,000.
In briefUK regulator examines whether defence SMEs can access banking services
SummaryThe FCA examined whether small and medium-sized defence businesses can access banking services efficiently and consistently. It found the main issue is friction and delay, such as long onboarding and repeated information requests, rather than widespread exclusion. The FCA says firms should take proportionate, risk-based decisions and that defence should not be treated as a single category.
In briefSelf Assessment deadline in 100 days: filing your 2025–26 tax return
SummaryHM Revenue and Customs (HMRC) urges Self Assessment customers to file their 2025 to 2026 tax return early, with the deadline set for 31 January 2027. Filing early on GOV.UK lets people learn how much tax they owe, budget in advance, get refunds sooner and avoid penalties. The notice also lists available guidance, support tools and warnings about HMRC impersonation scams.
In briefUK FCA restricts six unregulated lenders over anti-money laundering control concerns
SummaryThe FCA has placed voluntary restrictions on six Annex 1 firms, unregulated lenders, after raising concerns about their anti-money laundering policies, controls and procedures. The restrictions limit their ability to take on new customers or do new business with existing customers, including extending credit. The FCA is also assessing responses to an information request sent to around 900 registered Annex 1 firms.
In briefBeyond borders: FCA Chair Ashley Alder's speech on regulating shared risks
SummaryFCA Chair Ashley Alder delivered this speech at the Michael D. Gill Lecture on 13 October 2026. He argues that risks travel across firms, sectors, supply chains and jurisdictions, so regulation must address shared dependencies that can transmit shocks through the financial system. He also states that growth and resilience are not opposing goals, and that regulators need to share intelligence, test cross-border scenarios and prepare to act together.
In briefFCA urges private market firms to manage conflicts of interest as the sector grows
SummaryAn FCA review found that private market firms vary in how well they identify and manage conflicts of interest. Covering private equity, private credit and real estate, it noted good practice but also recurring weaknesses in cross-fund transfers, multi-party transactions, gifts and entertainment, and information barriers. The FCA expects firms to identify, record, manage and disclose conflicts effectively and show that investors are treated fairly.
In briefUK financial regulator FCA signs deal for new Leeds office
SummaryThe FCA has signed an agreement for a new 36,097 sq ft office at 2 Wellington Place, Leeds, to become its long-term base from 2028. Its current Leeds office at 6 Queen Street has grown since opening in 2022. The move supports the FCA's five-year strategy goal of having 1,000 roles outside London by 2030. More details will be shared closer to 2028.
In briefMarket integrity in a digital age: FCA chief executive's City Dinner speech
SummaryNikhil Rathi, chief executive of the UK Financial Conduct Authority (FCA), delivered this speech at the City of London Corporation's annual City Dinner at Mansion House. He argues that fast technological change brings opportunities but also serious threats to market integrity, including market abuse and financial crime, and that the regulatory system responds too slowly. He says the FCA will make better use of technology and intelligence and use its powers more assertively, and stresses that stronger partnerships between regulators, industry and government are essential.
In briefFormer CEO banned after acting as front for disqualified director in £4m high-risk bond losses
SummaryThe FCA has banned Jeffrey Dawkins, former chief executive of Vector Wealth Ltd, and fined him nearly £270,000. He acted as a front for a disqualified director, letting that person use the firm's FCA authorisation to sell high-risk mini-bonds. Investors are expected to lose about £4 million.
In briefSpeech on deliberately reshaping regulation by the FCA's deputy chief executive
SummarySarah Pritchard, deputy chief executive of the UK Financial Conduct Authority, gave this speech at the Investment Association Annual Dinner on 20 October 2026. She says the FCA is past the peak of rule making but continues a strategic approach to reform. She encourages firms to engage and identify where friction lies.
In briefBuilding the future of finance in the age of AI
SummaryA drafted speech by FCA chief data, information and intelligence officer Jessica Rusu at Bloomberg's UK Policy Series, which may differ from the delivered version. It sets out the FCA's approach to the safe and responsible adoption of AI in financial services, including its response to the Mills Review. It also covers clearer disclaimers for consumers and examples of good and poor AI practice.
In briefRevocation of bans related to LIBOR/EURIBOR
SummaryThe FCA reviewed its regulatory action against individuals whose convictions were recently overturned by the Court of Appeal. Because those convictions were the basis for its action, the FCA has revoked the bans on Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar and removed the related Final Notices from its channels. It will take no further action against these individuals on this matter.
In briefJarvis Investment Management Limited enters special administration
SummaryOn 14 October 2026, Jarvis Investment Management Limited entered special administration, with Adam Stephens and Philip Hemming of S&W Partners LLP appointed as special administrators. The firm remains FCA authorised and regulated, and the administrators will assess client money and custody assets and work to return them to clients. Clients are advised to contact their financial adviser first and to remain alert to scams.
In briefePayments Systems Limited enters special administration, with two joint administrators appointed.
SummaryOn 15 October 2026, e-money firm ePayments Systems Limited (EPS) entered special administration, with Mark Boast and Allister Manson of Opus Restructuring LLP appointed as joint special administrators. The special administrators will assess all funds held by the firm and gather information from creditors and customers. EPS remains FCA authorised and subject to FCA rules, and customers can contact the FCA Consumer Helpline for more information.
In briefMotor finance compensation scheme challenge set for hearing
SummaryThe Upper Tribunal will hear legal challenges to the FCA's motor finance compensation scheme between 16 and 26 February 2027. The scheme is partially suspended, but lenders must still follow the rules in force and keep progressing complaints. Until the legal process concludes, lenders do not need to calculate or pay compensation under the scheme.
In briefTwo people plead guilty to fraud that cost four clients £2m
SummaryTwo staff at financial advice firms pleaded guilty at Portsmouth Crown Court to charges brought by the FCA. They admitted defrauding clients between January 2019 and January 2023 and using false documents, causing four clients to lose £2m. One has also admitted a money laundering offence. Sentencing is set for 10 December 2026, and the FCA will seek confiscation of criminal benefit.
In briefFCA arrests three in major operation against insider dealing crime ring
SummaryThe FCA and the National Crime Agency jointly searched five residential premises in London and Manchester and arrested three individuals. The operation targets a suspected organised criminal group involved in insider dealing and money laundering. More than 30 devices were seized, and the suspects are being interviewed by the FCA.
In briefLiam Coleman appointed chair of the Financial Ombudsman Service, which resolves financial complaints
SummaryThe FCA Board has appointed Liam Coleman as permanent chair of the Financial Ombudsman Service, with Treasury approval. He takes up the role on 10 October 2026 for a 3-year term, having served as interim chair for the past year. The service resolves complaints between financial businesses and their customers.
In briefUK FCA proposes notice periods for long-term investment fund redemptions
SummaryThe FCA has set out clearer expectations for asset managers investing in long-term assets such as property. Under the proposed rules, investors would need to give 90 days' notice to access their funds. Existing funds would have 2 years to comply and must give investors at least 1 year's notice. Feedback on the proposals is requested by 11 December 2026.
In briefStrong compliance functions help keep corporate finance markets trusted
SummaryThe UK FCA reports findings from a survey of 411 corporate finance firms on their compliance functions, receiving 382 responses. Most firms carry out key compliance activities, but gaps remain in areas such as whistleblowing arrangements, breach registers and performance assessment. The FCA asks firms to reflect on their arrangements and says it will engage further with selected firms.
In briefEconomic Secretary's UK Digital Assets Week speech on digitising financial markets
SummaryThe Economic Secretary to the Treasury gave a speech at UK Digital Assets Week setting out the government's ambition to lead globally in digital assets. The speech cites the Wholesale Financial Markets Digital Strategy, the appointment of a Wholesale Digital Markets Champion, and approvals for HSBC and ClearToken to operate Digital Securities Depositories in the Digital Securities Sandbox. It also outlines a pilot issuance of the Digital Gilt Instrument (DIGIT) planned for the first quarter of 2027.
In briefFCA reviews how it engages with whistleblowers
SummaryThe UK Financial Conduct Authority (FCA) mourns the death of a whistleblower it had long been in contact with and outlines how it works with whistleblowers. Of the 1,252 whistleblowing reports closed last year, 42% led to direct action to manage or reduce harm, and 53% informed wider work and harm prevention. The FCA has asked new independent non-executive director Lea Paterson to review its interactions with this whistleblower and plans to share lessons early next year.
In briefUK capital market reform to serve the economy better (FCA speech)
SummaryJon Relleen, FCA director of infrastructure and exchanges, delivered this speech at a 5 October 2026 summit on reforming UK capital market rules. He says the FCA has completed major parts of a multi-year programme aimed at supporting growth while preserving trust, market integrity and high standards. The speech cites delivered changes such as the revamped listing regime, the new public offers framework and improved bond and derivatives transparency.
In briefFCA Survey: Firms' Satisfaction, Confidence and Trust in the Regulator Rise
SummaryThe FCA and Practitioner Panel's 2026 annual survey of regulated firms found that 79% are highly satisfied with their relationship with the FCA, up from 74%. Firms also rated the FCA as highly effective more often, and 88% said they understand what the FCA expects under the Consumer Duty. Firms still want progress on regulatory burden, and the FCA says it is simplifying data requests.
In briefFCA appoints new Board members including two non-executive directors and deputy chief executive
SummaryThe UK Financial Conduct Authority has appointed Lea Paterson CBE and Matthew Tobin as non-executive directors, with the Treasury making the appointments. Deputy chief executive Sarah Pritchard has also joined the Board as an executive member. The new Board roles take effect on 1 October 2026.
In briefFCA opens applications for regulated crypto firms in the UK
SummaryFrom today, crypto firms can apply to the Financial Conduct Authority (FCA) for authorisation. Crypto firms operating in the UK will be brought under full FCA regulation, with standards covering consumer protection, safeguarding, market integrity and financial resilience. Firms intending to keep operating must apply by 28 February 2027, and the new regime comes into force on 25 October 2027.
In briefFinancial planning firm IMFP and its representative IMA enter administration
SummaryThe FCA reports that IMFP and its appointed representative IMA entered administration on 24 September 2026, with Kroll Advisory Limited's two joint administrators taking control. The notice explains how customers can contact the administrators, what to do about investments and complaints, and warns about fraudsters impersonating the firms or administrators.
In briefFCA secures bankruptcy order against Arthur Temlett
SummaryThe FCA asked the court to make Arthur Temlett, trading as Abacus Insurance Consultants, bankrupt, known as sequestration in Scotland. The Sheriff granted the application on 27 August 2026, and Emma Porter of Aver Chartered Accountants was appointed trustee to assess his finances and distribute any recovered funds to creditors. Mr Temlett is awaiting trial on embezzlement charges following a Police Scotland investigation.
In briefUK regulator secures repayment for crypto fraud victims
SummaryThe FCA obtained confiscation orders against Raymondip Bedi and Patrick Mavanga, who ran a fake cryptoasset investment scheme that defrauded at least 65 investors of £1,541,799. On 28 September 2026, Bedi was ordered to pay £603,404.28 and Mavanga £247,997.99. The FCA says funds recovered through the process will be returned to victims.
