FCA: Principal firms embedding the new rules for effective appointed representative oversight – good practice and areas for improvement
FCA has set out good practice and areas for improvement to help principal firms effectively monitor their Appointed Representatives. The findings follow a review of how principals are meeting its enhanced AR rules, introduced in December 2022. Examples of good practice from principals included keeping clear documentation to show compliance with FCA’s enhanced rules and using a broad range of checks and information to oversee and monitor ARs’ activities. However, FCA found, amongst other matters, that some firms were taking a tick-box approach to complying with its rules; approximately half of principals were not regularly reviewing their AR agreements; a third of principals were not using data or management information to keep tabs on whether ARs were acting within the scope of AR agreements, and most firms had not changed their AR onboarding or termination procedures since the rules were introduced.
Last updated · 13 Mar 2026
Regulatory News - Banking & Finance
See allPRA: PS10/26: Amendments to Resolution Assessment threshold and Recovery Plans review frequency
Further to CP14/25, this PS provides feedback and final policy. The policy in this PS will take effect on 1 April 2026.
FCA: UK MiFID transparency calculations
FCA has updated its webpage with the latest results of the annual transparency calculations for equity and equity-like instruments for the UK.
FCA: Regulatory priorities – mortgages
FCA’s first annual regulatory priorities report for the mortgages sector sets out its priorities for the coming year: improving consumer outcomes under the Mortgage Rule Review; encouraging responsible lending and supporting mortgage borrowers in financial difficulty, and ensuring the quality of advice. The report also notes other areas of focus. FCA has included an indicative timeline for specific workstreams, including details of the Mortgage Rule Review.
For more information
FCA: Second charge mortgages – improving outcomes for consumers
This FCA review has found that weaknesses in some firms’ practices could put borrowers, particularly those consolidating debt, at increased risk of financial harm. Although it found examples of good practice across the sector, the review raised a number of concerns, including: affordability assessments that appeared to overlook key living expenses; advice that steered customers towards debt consolidation when it was not clear if it was appropriate; inadequate record keeping, and unclear fees.
FCA: Regulatory priorities – retail banking
FCA’s first annual regulatory priorities report for the retail banking sector sets out its priorities for the coming year: access to cash and essential banking services; good outcomes from products and services ; fighting fraud and other financial crime; operational resilience and data security. The report also notes other areas of focus. FCA has included an indicative timeline for specific workstreams.
For more information