Financial Conduct Authority (FCA)

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FCA: PS14/9 (with final rules) published - relates to all firms that are subject to CASS because they conduct investment business and hold client money, custody assets, collateral and or mandates in relation to that investment business. This includes loan-based crowdfunding firms who became subject to client money rules in CASS 7 by the changes published in PS14/4. CASS rules changes following PS14/9 came into force in three phases: 1 July 2014, 1 December 2014 and 1 June 2015. Firms could choose to begin complying with any of the requirements introduced by PS14/9 before the relevant requirement came into force. FCA Business Plan 2016/17 notes client assets is part of ongoing work. Moreover, in March 2016, HM Treasury and the FCA have lauched consultations relating to the Bloxham report and SAR.

Latest Reports

  • emobility image

    On 15 October 2019, the Financial Conduct Authority (“FCA”) published consultation paper CP19/29: Recovery of costs of supervising cryptoasset businesses under the proposed anti-money laundering regulations: fee proposals (“CP19/29”).  

  • Car fuel image

    Following the publication in March this year of the findings from its review of the motor finance sector, the FCA has today opened a consultation on plans to: implement a ban on discretionary commission arrangements in the motor finance sector; and update the commission disclosure requirements in the Consumer Credit Sourcebook (“CONC”), part of the FCA handbook, for all providers of consumer...

  • Glass sky

    Commentary Writing on the weekend of 11/12th October and as the Hallowe’en deadline approaches, it seems to get more, rather than less, difficult to predict the Brexit flightpath and the ultimate destination. Of the multitude of possibilities, virtually none, if any, can now be ruled out. The UK may or may not leave the EU. If it leaves, it may do so under an Article 50 Withdrawal Agreement (WA)...

  • Terms and conditions image

    On 4 October 2019, the FCA published the interim findings of its market study into general insurance pricing practices.  The FCA’s interim report concludes that the home and motor insurance markets are not working well for consumers, finding that 6 million policy holders paid high prices in 2018, at a total estimated cost of £1.2bn. The FCA has taken particular issue with personalised pricing (and...

  • EU sales image

    FCA: Temporary transitional powers Further to the directions made on 28 March 2019, FCA has updated and published draft directions and updated its explanatory note providing guidance on the use of the TTP.

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Future Dates

* Estimated date

  • 31 October 2019

    31 October 2019- The FCA addendum to the Memorandum of Understanding entered into with the Hong Kong Securities and Futures Commission will come into force on exit day. 

  • 3 July 2020

    The FCA and Bank of England have granted a transitional period to certain trading venues and CCPs under Art. 54(2) MiFIR. This ends on 3 July 2020.