FCA: Confiscation orders
FCA has reported that it has secured confiscation orders of £305,284 against Raheel Mirza, Cameron Vickers and Opeyemi Solaja for their roles in an investment fraud. This amounts to all their remaining assets. Confiscation proceedings for a fourth defendant, Reuben Akpojaro, have been adjourned to a later date. In a period between 2016 and 2020, the defendants had cold called people to convince them to invest in a shell company, then claimed to trade investors’ money in binary options when the money was actually used to bankroll their lifestyles.
Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See allHMG: The Enhancing Financial Services Bill
The Enhancing Financial Services Bill was announced in the King’s Speech and is intended to deliver key parts of the Leeds Reforms. Amongst other matters, the Bill will: enact reforms to FOS; consolidate PSR within FCA; reduce the overall burden of SM&CR by 50% with a focus on accountability of the most senior figures in financial services, and update the statutory framework underpinning the ringfencing regime in order to unlock more finance for SMEs.
FCA: Vulnerability review
FCA is reviewing how consumer investment firms support bereaved customers. It has published research which found that 47% of bereaved customers felt they received the support they needed from financial firms. The review will focus on firms that advise, manage, or administer investments (including platforms, advisers and wealth managers). FCA will examine the experience customers have from the moment the firm is told about a bereavement, through to settlement or transfer of investments and will assess how firms communicate, how they support vulnerable customers, their service standards, and how fees are handled on bereaved accounts.
PRA: Speech by Sam Woods: Clinical supervision
Text of Sam Woods’ speech of 12 May 2026 follows in which he discusses banking supervision. He concludes: “as the financial system and broader economy continue to evolve, supervisors will need to upskill across an even broader set of issues … This might in time mean a more senior and more specialised workforce”.
BoE: DLT Innovation Challenge 2025 – final report
The report describes the outcomes of the DLT Innovation Challenge and sets out how it has informed BoE’s views on DLT with regard to settlement finality, scalability, network and asset control and interoperability.
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FCA: Appointments
FCA has announced the appointments of Simon Walls (executive director, markets) and Johan Sekora (COO).