We want to make authorisation quicker and easier for firms that meet our standards.

To support this, we’ve shared examples of good practice and areas for improvement to help new firms understand our expectations and raise the quality of their applications.

Our review covers what firms can do to show they have appropriate staffing and financial resources. It also sets out how firms can document their processes and procedures, demonstrate appropriate systems and controls and show us how they will deliver good customer outcomes.

This publication adds to the range of support we provide to help firms that can meet our standards to become FCA authorised or registered.

We’re reducing the reporting frequency of the Retail Mediation Activities Return (RMAR), easing the burden for 11,000 retail intermediary firms. This latest proposal cuts unnecessary reporting, focuses only on essential information, and reflects our role as a smarter regulator, maintaining strong oversight while easing the burden on firms.

We propose to amend the reporting frequency to annual for the following returns:

• Section E of RMAR (known as RMA-E) – Professional indemnity insurance
• Section G of RMAR (known as RMA-G) – Training and competence
• Section M of RMAR (known as RMA-M) – Pension transfer specialist advice

The consultation closes on 15 October 2025 and forms part of our Transforming Data Collection is external programme, which has already reduced data reporting burden for over 36,000 firms.

We have launched a £1m campaign, letting motor finance customers know they don’t need to use a claims management company (CMC) or law firm to access an industry-wide compensation scheme the regulator is proposing.

As part of the campaign, which will feature radio and online advertising we’ve teamed up with influencers to get the message to consumers.

Research we’ve commissioned shows that 41% of those aware they may be owed compensation didn’t know they would not need to use a CMC or law firm if a redress scheme is introduced.

Using a CMC or law firm to make a motor finance claim could cost consumers around 30% of any compensation paid.

Motor insurers have changed their settlement and compensation practices after we found some insurers had short-changed customers on stolen or written off vehicle claims. It means that an estimated 270,000 motorists are expected to receive £200m in compensation for historic claims that were underpaid, breaching rules on handling claims fairly. Of this, £129m has been paid to date to almost 150,000 customers.

We carried out detailed work with insurers, following an initial review last year, which found that in some cases, automatic deductions to payouts were made for assumed pre-existing damage. This particularly disadvantaged careful drivers who had looked after their vehicles and made it hard for them to buy like-for-like replacements. Insurers have now overhauled their claims processes in line with the Consumer Duty.

These changes reflect our focus to drive improvements to support a well-functioning retail insurance market which helps consumers navigate their financial lives, provides peace of mind and supports growth through the effective management of risk.

We’re streamlining how firms access our supervisory communications online. Multi-firm and thematic reviews published before 2022 will now be labelled as ‘historical’ but will remain accessible through existing links.

As part of our consumer duty review, we’re simplifying our publications to make priorities clearer and support smarter, more effective regulation. We’ll continue to publish multi-firm and thematic reviews and firms can assess existing ones in line with our strategy.

We’ll also soon be replacing most Dear CEO or portfolio letters with a small number of market reports.

We’ve published the feedback we received to our proposal for AI Live Testing to help firms safely test AI in live markets.

We received 67 responses to our Engagement Paper, representing a broad range of views from regulated and unregulated firms, civil society, academia, big tech and AI testing experts. Respondents welcomed our proposal, outlining it was a constructive and timely step toward increasing transparency, trust and accountability in the use of AI systems.

Applications to the first cohort of AI Live Testing are now closed, and we will start working with firms from October.

We’re seeking feedback on proposals on the minimum standards crypto firms will need to comply with.

The rules aim to be proportionate, allowing UK firms to compete internationally.

The deadline for feedback on the consultation paper is 12 November 2025. The deadline for feedback on the discussion paper is 15 October 2025.

We’ve published an overview of the UK pure protection market for retail customers.

It’s the first of 2 papers related to the pure protection market study that we will publish ahead of our interim report around the end of the year.

This is not a formal consultation but you can provide feedback until 15 October 2025 by emailing PureProtectionMS@fca.org.uk.

As part of improving our Authorisation process, we have a new Firm Details form, used by firms to update their core details.

More improved forms are coming. We are currently testing them with a few firms and will start rolling them out more widely from the end of September. The forms are:

• The Payment Services Directive (PSD) Add Agent form.
• Form C - used by firms to cease controlled functions.
• MLR individual form - used by an Annex 1 Financial Institution.

Please ensure your firm’s information is correct and up to date. This is a regulatory requirement, ensuring consumer trust and market integrity.

You need to:

• Check your information: In My FCA, you can check what’s on the Financial Services Register. This includes your firm’s contact information and regulatory permission such as activities, limitations, and waivers.
• Update your details: Update any incorrect information using Connect.

We publish the information on the Financial Services Register and our new FCA Firm Checker. If you haven’t updated your details a non-complaint banner will be displayed letting people know you haven’t confirmed your contact information.

This month, we, alongside, the Bank of England, the Prudential Regulation Authority and the Swiss Financial Market Supervisory Authority (FINMA) signed the Memorandum of Understanding for the Berne Financial Services Agreement. This marks the next step in unlocking market access for both UK and Swiss firms.

This agreement forms part of our wider commitment to strength the UK's position in global wholesale markets, bolstering growth. We’ll be publishing operational guidelines in November on how firms can make use of the agreement. In the meantime, firms can continue to register their expression of interest on our website for future updates and information.

We’ve published our latest data from firms who have signed up to the Government’s Mortgage Charter.

Key findings include:

• In the latest 3-month period around 489,000 mortgages locked into a new deal up to 6 months ahead of maturity; compared to around 341,000 in the previous 3-month period.
• The number of mortgages that, after locking into a new deal up to 6 months before maturity, subsequently locked into an alternative deal, increased to around 104,000 in the latest 3-month period from around 52,000 in the previous 3-month period.
• Around 191,000 mortgages have temporarily reduced monthly payments via new FCA rules.

Along with the Bank of England, we have published the 2025 Q2 Mortgage Lending Statistics data for regulated firms carrying out mortgage lending and mortgage administration.

The data we publish includes:

• the outstanding value of all residential loans
• total gross advances by loan-to-value and income multiples
• value of new commitments
• proportion of mortgage loans above Bank Rate

The value of gross mortgage advances decreased by 24.2% from the previous quarter to £58.8 billion, the lowest since 2024 Q1, and was 2.4% lower than a year earlier.

We’ve published our latest retirement income market data. Our analysis summarises the latest data covering the year from 1 April 2024 to 31 March 2025 (2024/25). The data enables us to monitor market developments. For example, tracking consumers’ actions when they first access a pension pot.

Key findings include:

• Total number of pension plans accessed for the first time in 2024/25 increased by 8.6% to 961,575 compared to 2023/24 (885,455)
• The overall value of money being withdrawn from pension pots increased to £70,876m in 2024/25 from £52,152m in 2023/24. This is an increase of 35.9%

Our news and publications alerts keep you up to date with our press releases, speeches, statements, consultations, guidance, notices and decisions.

Charlotte Clark joined host Lucy McNulty on the ‘Following the rules’ podcast to talk about the consumer duty, including: 

• The positive impact so far.
• Work to streamline our rules.
• Plans to respond to the Chancellor about how the Duty is impacting wholesale firms.

Sarah Pritchard appeared on the Peel Hunt podcast to discuss how the FCA is going faster and further on innovative reform.

Speaking with Charles Hall, Head of Research at Peel Hunt, Sarah discussed embedding a growth mindset across the FCA, engaging more openly with firms, delivering on reforms and encouraging retail investors to engage with risk without becoming risk averse.

On Friday 24 October at Aspire in Leeds, we’ll be hosting an event to explore how we can support growth and investment opportunities in financial services across the North.

The forum will feature a keynote from a senior government representative, panel discussion with local government and industry leaders, workshops and surgeries, an exhibition space of available support and an investor zone. The event will also include an optional mini-Sprint, exploring how industry and regulators can work together to facilitate growth in the region.

We are seeking registrations from senior manager and above across the financial services sector based in the North of England.

RSVP by 16 October. We will confirm places no later than 17 October. We aim to accommodate as many attendees as possible, while ensuring a balance of stakeholders.