On 6 July 2026 the Financial Conduct Authority (FCA) published the Mills Review, an independent review of how artificial intelligence could reshape retail financial services by 2030 and beyond. The Review creates no new obligations. It makes seven recommendations to the FCA Board, and its central conclusion is that the existing framework, including the Consumer Duty, the Senior Managers Regime and operational resilience requirements, remains sound and will not be replaced by

On 3 August 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/15, Improving the UK transaction reporting regime. It confirms final rules that cut the number of transaction report fields from 65 to 52, take foreign exchange (FX) derivatives and instruments tradeable only on European Union (EU) trading venues out of scope, and shorten the default back reporting period from five years to three. The new regime comes into force on 3 April 2028, but a flex

On 14 July 2026 the Financial Conduct Authority (FCA) published CP26/29: A tailored regime for captive insurance, proposing a bespoke conduct framework for single-parent captive insurers in the United Kingdom. These are proposals, not final rules. The consultation closes on Wednesday 14 October 2026 and the FCA expects implementation in mid-2027, once both regulators have published their final rules and policies. The paper was published alongside the Prudential Regulation Aut

On 27 July 2026, the Financial Conduct Authority (FCA) published Outcomes monitoring: good practice and areas for improvement, a review of how firms monitor consumer outcomes under the Consumer Duty. It introduces no new rules, no deadlines and no transitional arrangements. Its central message is that collecting data, listing metrics and reporting management information (MI) do not, by themselves, show that customers are receiving good outcomes. The FCA expects a firm to be a

On 14 July 2026 the Financial Conduct Authority (FCA) published CP26/27, a consultation proposing to replace the three remuneration codes that currently apply to solo-regulated firms with a single, outcomes-focused code at SYSC 19AA. The proposals would take small and non-interconnected (SNI) MIFIDPRU investment firms and smaller alternative investment fund managers (AIFMs) out of remuneration requirements altogether, and would end mandatory remuneration committees, mandatory

On 14 July 2026, the Financial Conduct Authority (FCA) published CP26/28: The UK AIFM Regime, proposing to move most of the rules for alternative investment fund managers (AIFMs) out of legislation and into a new Alternative Investment Funds sourcebook (ALTS), and to replace the current full-scope and sub-threshold split with three categories based on aggregate net asset value (NAV): small below £750m, medium between £750m and £5bn, and large above £5bn. These are consultatio