FCA: Basset & Gold plc/Basset & Gold Ltd
FCA has apologised to people who invested in the firm for failures in the way in which it dealt with the firms. Both were unregulated firms that raised funds by issuing mini-bonds which went out of business in 2021 and 2022 and were appointed representatives of three other firms. FCA sets out which specific complaints were upheld and is to pay £200 to each complainant in recognition of the time it took to respond to the complaints.
Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See allBoE: Speech by Liz Oakes: Operational resilience in a rapidly changing world
Text of Liz Oakes’ speech of 14 May 2026 follows in which she discusses operational resilience from the perspective of the FPC, including details on BoE stress tests. In 2026, this will focus on testing the impact of a global disruption to a cloud service provider.
FCA: Supporting customers through challenging times
FCA has published a blog by Charlotte Clark in which she reminds firms about the support the regulator expects they should offer consumers in challenging times, through the Consumer Duty and rules on protections for borrowers in difficulty.
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FCA: Speech by Nikhil Rathi: Working together against financial crime
Text of Nikhil Rathi’s speech of 14 May 2026 follows. He states: “.. we need to be candid that we won’t be able to defend everything equally. We have to prioritise. … We know that across the system, our partner organisations are under the same pressures: more complexity, volume and velocity, without more resource. And a threat that is becoming harder to read. So these aren’t just our choices. They’re choices for the system. And they need the Government to be clear about where financial crime sits in relation to growth, innovation and risk appetite. That’s a policy question. Not a regulatory one”.
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HMT: Access to Banking Services Review
HMT has announced an independent review, chaired by Richard Lloyd (former interim chair and NED of FCA), which will gather evidence on the real‑world impact of branch closures, identify who is most affected, and assess where further action may be needed to protect access to banking services. The Review follows the announcement of the Bill in the King’s Speech, where HMT intends to include a power to be able to act swiftly if the evidence supports intervention on access to banking services. ToR have been published alongside the announcement.
HMT: Reforming the UK Money Market Fund Regulations
Further to a 2023 joint HMT/FCA consultation on replacing the MMFRs, it has been announced that the Government will now lay legislation as soon as parliamentary time allows to establish the new regulatory framework, under which most requirements for UK MMFs will be set out in FCA rules and guidance. This will include guidance setting out expectations that UK MMFs hold higher levels of liquidity. The new regime is expected to be in place by Q4 2026, subject to Parliamentary approval, and FCA will issue a statement shortly with further details on its plans. The Government has confirmed its intention to extend the Temporary Marketing Permissions Regime, with a view to establishing a longer-term solution on market access.
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