FCA/Upper Tribunal: Decisions: Heather Dunne/Richard Fenech
The Upper Tribunal Decision for Heather Dunne, which is published in a redacted version, concerned two privacy applications and one case management application. Submissions had been provided in support of the privacy applications, concentrating on the effect on the applicant’s mental health of publication of the reference or Decision Notice, as well as concerns that the Decision Notices would cause “reputational destruction” to the applicant, The privacy applications were rejected. Further to the publication of the Upper Tribunal Decision, FCA has now separately published its Decision Notices for Richard Fenech and for Heather Dunne (dated January 2024). FCA had decided to issue them with prohibition orders and fine them £270,646 and £399,817 respectively, finding that they operated a flawed advice model that put customers’ guaranteed pension benefits at significant risk, and that Heather Dunne failed to act with due skill, care and diligence when providing pension transfer advice.
Regulatory News - Financial Services & Regulation
See all Regulatory News - Financial Services & RegulationFCA: GC26/7: Decentralised Finance
FCA has published a guidance consultation paper on decentralised finance (DeFi) to help firms understand how existing operational resilience and financial crime requirements may apply when they provide financial services using DeFi. The draft non-Handbook guidance is set out in Annex 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in January 2027.
FCA: CP26/36: Cryptoasset perimeter guidance
FCA has published a consultation paper CP26/36 on changes to its Perimeter Guidance manual (PERG) to reflect the amendments to the cryptoasset regime introduced by the Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026. The changes explain FCA’s view of how the amendments in the legislation apply, and how the new exclusions interact with the regulated cryptoasset activities. The amended draft Handbook text is set out in Appendix 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in spring 2027.
HMT: UK-Singapore Financial Markets Dialogue – joint statement
HMT has published a note of the UK-Singapore Financial Markets Dialogue which took place on 20 October 2026. Topics include: digital finance and innovation; capital markets, and sustainable finance.
FCA: Further information for firms on the Motor Finance Compensation Scheme
FCA has revised this document aimed at firms, and based on queries received by the regulator. It includes a note which sets out specific additions made to the report.
FCA: Speech by Jessica Rusu: Building the future of finance in the age of AI
Text of Jessica Rusu’s speech of 19 October 2026 follows in which she discusses the publication of the good and poor practice review, highlighting the areas of consumer centricity; accountability and governance, and operational resilience.
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