FCA: Decision Notice: Howard Duckett/Beaufort Corporation Limited (as Interested Party)
FCA has decided to impose a prohibition order against the individual and to withdraw his SMF3 and SMF16 permissions at the firm. FCA notes that he had been disqualified from being a company director for a period of ten years in 2020 due to his failure to ensure that the company (unrelated to the firm) maintained adequate books and records. The Court had also found that he had repeatedly lied on oath during the disqualification proceedings and had attempted to rely on fabricated evidence in his defence and to deny that he was a director of the company. He had failed to disclose to FCA that he had been disqualified from acting as a director, despite being an approved person at the time. The individual has referred the Decision Notice to the Upper Tribunal.
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Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See all Regulatory News - Financial Services & RegulationFCA: Defence, Security, and Resilience Lab – lessons for firms
Held with the MoD, the DSR Lab used a scenario involving regional GNSS spoofing, damaged subsea cables and a cyberattack on a cable landing station/ This helped firms consider how hostile activity, supply chain disruption and dual-use technologies, such as drones, can affect market integrity and wider UK security. FCA plans to further investigate several themes, including how it can support intelligence sharing with the financial sector.
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JMLSG: Amendments
JMLSG has published final amendments to various paragraphs within Part I. These include revisions to paragraphs 2.9; 5.2.4A; 5.3.94A; 5.3.99; 5.3.142; and Annex 5-V. These have been submitted to HMT for ministerial approval.
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FCA: CP26/32: QCP
The latest edition of FCA’s quarterly consultation paper sets out proposed changes relating to: financial promotion rules applicable to fractional shares; amendments to BCOBS disclosure guidance; deferral arrangements for the cryptoasset regime; complaints reporting review amendments; removing the reference to the two-stage complaints process for the Society of Lloyd’s; updating MMF reporting requirements, and amendments to DISC and COBS with regard to CCIs. Responses are required by 12 October 2026.
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FCA: Mortgages and open finance policy sprint
FCA has published an outcomes report following a recent policy sprint. The report ets out the conditions participants of the sprint considered necessary for open finance to improve mortgage journeys in practice.
FCA: The UK alternative investment fund market – evidence from regulatory reporting
FCA has published a research note which provides an overview of the UK alternative investment market.