On 21 November 2025, the Financial Conduct Authority (FCA) issued CP25/32 – Improving the UK Transaction Reporting Regime, marking the most significant review of MiFIR transaction reporting since its original 2018 introduction and UK onshoring in 2020. The proposals aim to simplify reporting, cut industry costs, and improve data quality, while setting out a long-term reform agenda in collaboration with HM Treasury and the Bank of England. The consultation is now open, with re

The Financial Conduct Authority (FCA) today published its latest multi-firm review into risk assessment processes and controls, setting out examples of good and poor practice in Business-Wide Risk Assessments (BWRAs) and Customer Risk Assessments (CRAs). The findings, which form part of the FCA’s 2025–2030 strategy to reduce financial crime harm, underline the regulator’s expectation that firms must not only have risk assessments in place, but that these must be robust, tailo

In November 2025, the Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA) jointly published their long-awaited guidelines for firms under the Berne Financial Services Agreement (BFSA). The Agreement marks a new chapter in UK-Swiss financial services cooperation — a post-Brexit milestone aimed at simplifying cross-border trade in financial services for wholesale and sophisticated clients, through a framework of mutual recognition . Ac

On 11 October 2025, the FCA and PRA published their long-anticipated policy statements finalising the transfer of the firm-facing requirements of the MiFID Organisational Regulation (MiFID Org Reg)  into their respective rulebooks. This forms part of the wider UK process of “onshoring” and simplifying retained EU law following Brexit. The message from the regulators is clear: no policy or scope changes , just a move to restate the existing requirements in a more accessible, H

When applying for FCA authorisation or registration, one of the most common stumbling blocks firms face is their financial information....

Since its introduction in 2023, the Consumer Duty has set a new benchmark for how firms think about delivering positive outcomes for...