Regulatory News
FCA is inviting market participants to join its advisory committee, with responses required by 18 May 2026.
This FSI Occasional Paper provides a structured overview of multifunction cryptoasset intermediaries’ products and maps them to the functions of financial intermediation.
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The Government is undertaking an extensive awareness campaign urging young people to locate their CTFs through and HMRC will be writing to all 21-year-olds whose accounts remain unclaimed to make them aware they have a CTF.
PRA has set out details of low impact amendments it has finalised, including with regard to the FEES Part of the PRA Rulebook; the Skills, Knowledge and Expertise Part of the PRA Rulebook, and an amendment to SS3/18 (on model risk management principles for stress testing). These come into effect on 23 April/30 April 2026.
PRA is consulting on a number of low impact amendments, including with regard to the Groups Part of the PRA Rulebook, consequential amendments to PRA rules relating to CRR 2013, amendments to SoP1/16 and 4/16 relating to O-SIIs, and amendments to a SoP relating to Solvency II technical information. Responses are required by 21 May 2026.
In this press release, FCA calls on any law firm or claims management company involved in a potential challenge against the scheme that also has clients making motor finance claims should consider their position and that of their clients carefully and should write to those clients to explain that they are involved in a challenge that is likely to delay compensation.
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FCA has published the results of its survey, which is intended to help firms benchmark their practices and to inform the regulator’s supervisory and policy work. Amongst other matters, it is noted that there was positive engagement with the Consumer Duty, particularly in pensions and retirement advice, which account for 69% of clients’ main advice objectives.
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Text of Sheree Howard’s speech of 22 April 2026 on the authorisations process follows.
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The regulators have published policy statements, which set out the first phase of reforms to the SM&CR, including with regard to: criminal record checks and disclosure; the 12-week rule; statements of responsibilities and management responsibilities maps; regulatory references and prescribed responsibilities. Some changes take effect on 24 April 2026 and others take effect on 10 July 2026. The regulators intend to consult on a second phase of proposals later in 2026.
For more information
- https://www.fca.org.uk/publications/policy-statements/ps26-6-senior-managers-certification-regime-review
- https://www.bankofengland.co.uk/prudential-regulation/publication/2026/april/review-of-the-smcr-phase-1-policy-statement
- https://www.fca.org.uk/news/press-releases/fca-pra-changes-streamline-senior-manager-accountability-boost-growth
FCA has reported on its first operation with partners to disrupt illegal peer-to-peer crypto trading across multiple London locations.
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