UK financial regulators to begin overseeing Critical Third Parties announced by the Treasury
The Bank of England (the Bank), the PRA and the FCA started overseeing the first critical third parties (CTPs) on Monday 13th July 2026, following designation by the Treasury. CTPs are technology and other service providers whose services underpin the UK…
FCA publishes landmark review into impact of AI on retail financial services - the ‘Mills review’
The FCA has announced the publication of what it describes as a “landmark review into impact of AI on retail financial services”. Led by FCA Executive Director Sheldon Mills and commissioned by the FCA Board, ‘The Mills Review’ is the first work of its kind…
FCA updates its ‘reporting complaints’ web page
The FCA has updated its ‘Reporting complaints’ web page to remind firms about the upcoming changes to complaints reporting and to outline the next steps that firms should take. From 1st January 2027, there will be a single, unified complaints return to…
FCA updates its ‘Trading names’ web page
The FCA has updated the content of its ‘Trading names’ web page by adding information across the page to help firms meet requirements. The aim of the page is to help firms to learn what they should and should not do when registering a trading name that is…
FCA refines Consumer Duty and removes non-UK business from its scope
The FCA has published an introductory blog article, a news item, a web page introducing the proposed changes, and a Consultation Paper (CP26/23) on the scope and proportionality of Consumer Duty. These changes are primarily aimed at wholesale firms. This…
FCA publishes a multi-firm review – insurance financial crime controls
The FCA has published a financial crime controls review of firms in the insurance sector, setting out the review findings and what insurance firms can do to improve their financial crime systems and controls. The FCA expects firms to maintain adequate and…