EU forex regulator news tracker

Amplifi Capital (U.K.) Limited enters administration

On 9 June 2026, Amplifi Capital (U.K.) Limited (Amplifi) entered administration. Robert Spence and Gareth Slater of Interpath Advisory were appointed joint administrators. Amplifi is authorised by the FCA. Amplifi trades under the names Reevo Money and My Community Finance. Reevo Money provided personal loans to consumers. My Community Finance acted as a credit broker, introducing customers to credit unions; My Community Bank (MCB) and Castle Community Bank (CCB) which issued loans and savings

Lapse of authorisation license of the Company Providing Administrative Services Epamina Corporate Ltd

Lapse of authorisation license of the Company Providing Administrative Services Epamina Corporate Ltd

Tender regarding the ‘Provision of expert services for the assessment of applications for granting authorisation to CIFs, ASPs, CCAUCI, UCITS Man Cos, AIFs, UCITS, AIFMs, AIFLNPs, CASPs, Crowdfunding Platforms, registration of RAIF and monitoring of substantial changes to regulated entities’

Tender regarding the ‘Provision of expert services for the assessment of applications for granting authorisation to CIFs, ASPs, CCAUCI, UCITS Man Cos, AIFs, UCITS, AIFMs, AIFLNPs, CASPs, Crowdfunding Platforms, registration of RAIF and monitoring of substantial changes to regulated entities’

FCA secures confiscation order against Ponzi scheme fraudster

The FCA has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh. Mr Pugh, 36, is serving a 7 years and 6 months prison sentence for defrauding investors out of £1.3m.Run from his bedroom in Devon, Pugh used Facebook adverts to target investors and promised them wholly unrealistic returns, claiming these would be generated by trading across various markets.Only 19% of the funds collected from investors were traded and the scheme was, in effect, a Ponzi scheme, which was run with another individual.At a hearing at Southwark Crown Court on 5 June 2026, Mr Pugh was ordered to pay £452,286.80. This represents the total value of the assets the court found available for recovery. The funds will be used to compensate the victims of his crimes. Steve Smart, executive director of enforcement and market oversight at the FCA, said: 'Fighting financial crime is a key priority for the FCA and our message to fraudsters like Pugh is loud and clear. We will do everything in our power to deny them the profits from their crimes.'If Mr Pugh does not pay the confiscation order within 3 months, he faces a default prison sentence of up to 4 years and 9 months.The confiscation proceedings form part of the FCA’s ongoing work to recover funds for victims of fraudulent investment schemes.Notes to editorsDaniel Pugh’s date of birth is 19 April 1990.The FCA has carried out extensive inquiries to identify all victims who are eligible for compensation. The FCA is now making a final call for any remaining victims to come forward. If anyone believes they are a victim of Daniel Pugh’s illegal activities and has not been in contact already, they should please contact the FCA with details of their dealings with Pugh as soon as possible and by 30 June 2026. The FCA is also calling for victims that have already been in touch, and confirmed they have lost money, to reach out to finalise their details.The FCA can be contacted in the following ways:Emailing: OpHainesConsume

FCA update on reforms to the UK Money Market Fund Regulation

We set out next steps on issuing new rules and guidance on Money Market Funds (MMFs), following Government plans to replace the current rules. On 15 May, the Government set out its expectation that it will lay legislation that will replace the UK Money Market Funds Regulation. Read the Government statement.Money Market Funds (MMFs) play an important role in the financial system. MMFs are widely used for cash management and provide an alternative or complement to bank deposits for a broad range of investors. However, recent periods of market stress have highlighted the need to strengthen the resilience of these funds.

FCA takes action against Neil Woodford and W4.0 for operating without authorisation

The FCAhasstartedcivil proceedings against Mr Neil Woodford andW4.0.The FCAallegesthat Mr Woodford and W4.0 are providing regulated investment advice and making financial promotions through the subscription-based platform, www.w4pz.com, without authorisation.In the FCA’sview, the activitybreachessections 19 and 21 of the Financial Services and Markets Act 2000 (FSMA).The FCA is seekingan injunction against Mr Woodford and W4.0 tostop them carrying on the potentiallyunlawfulactivities.W4.0 is the trading name of W Four Point Zero FZE LLCand is registered in the United Arab Emirates.

FCA proposes changes to help more people access mortgages

First-time buyers, older borrowers and the self-employed could find it easier to get a mortgage, as the FCA sets out next steps to help reform the market. Its proposed mortgage rule changes would give lenders more flexibility to consider individual circumstances and develop products that better meet people's needs – while maintaining strong consumer protections.They include:Reducing barriers for lenders to offer flexible repayments for people with variable income, like the self-employed, and lend to those paid in foreign currency.Encouraging lenders to assess affordability based on a person’s full and current situation, rather than automatically excluding people because of minor or past credit history issues.Making it easier for older homeowners to unlock wealth built up in their property by updating affordability guidance for retirement interest-only mortgages.Updating rules on interest-only (or part interest-only) mortgages to give lenders more flexibility, while ensuring most borrowers have a clear plan to repay (unless they’re borrowing a smaller amount).David Geale, executive director for payments and digital finance, said: ‘We’re living longer and how many people work has changed. Our mortgage rules need to keep pace so those who can afford to repay can borrow. Stronger protections mean we can now safely widen access to mortgage borrowing for those that may be underserved.’The proposals are part of the FCA’s ongoing work to help consumers navigate their financial lives and support growth. In December 2025, it set out its plans to drive reforms to the mortgage market to better meet the needs of consumers today.The FCA has raised standards across the mortgage market over time, including through the Consumer Duty. The proposals build on that foundation by rebalancing risk to help more people access mortgages while keeping appropriate safeguards in place, including supporting consumers in understanding their options.As part of gathering feedback on the proposals,

FCA decides to fine Carlos Ricardo Fuenmayor £99,600 for disclosure failures

Later life lending: building the fourth retirement pillar

Speech by Emad Aladhal, director of retail banking at the Later Life Lending Summit. IntroductionIn the years ahead, housing wealth will become an increasing part of how many people provide for their retirement. But it continues to be seen as an option of last resort, if thought about at all.Knowing I had this speech, as an experiment at a recent BBQ I had a conversation with my friends about retirement and savings – none of whom work in financial services. They talked about their employers’ pensions, SIPPs, ISAs, investments, and potential business ventures to supplement income in retirement. None brought up later life lending, or how they could use their home to help.I don’t believe my friends are unique in this.When consumers begin to consider their options for funding their retirement, they usually look to pensions: their state pension, workplace pensions, and personal pensions. The 3 pillars.But why should it stop there? Why should retirement planning focus only on these 3 pillars, and not on all assets available to the consumer?I am grateful for the opportunity to speak to you here today – you are the leaders from across the later life lending market, and through your actions the future of this market can be reshaped to meet the increasing needs of UK citizens. In this speech I want to deliver a simple message:There is an increasing generational and social need to provide greater funding in retirement.There is real opportunity to respond to this future demand by developing products people need, improving access to advice, and building trust.And the FCA will do its part to foster good outcomes for consumers and the appropriate growth of this market to meet future needs.But you need to step forward. Because if you don’t, I expect others will step in to define that future.A future where consumers think about their accumulated housing wealth as a fourth pillar for retirement funding, both by choice and necessity.

Beyond the headlines: the unseen fight against financial crime

Speech by Therese Chambers, joint executive director of enforcement and market oversight, delivered at the International Bar Association (IBA) Anti-Corruption Conference. I’ve been practising law for over 3 decades now.Starting out, I thought every case would be like the ones on US television: dramatic, with a big reveal and resounding outcome, all packed into a single 30-minute episode. But real law looks nothing like television. Hollywood doesn’t show the months, if not years, of work before we even step into a courtroom. Or the drawn-out disclosure exercises!Like many of you, I have had cases that led to high-profile trials and newspaper headlines. Cases that exposed wrongdoing and visibly held people accountable, like:Fining Nationwide £44m for anti-money laundering failings.Securing €250m for investors from H2O Asset Management for their due diligence failures – and trying to conceal them.Another 7-figure fine and a ban for former Barclays CEO Jes Staley, who tried to mislead us about the nature of his relationship with Jeffrey Epstein.And convicting the Korfuzi siblings of insider trading, with a combined 11-year prison sentence.Although these cases took time, they were the right response – the kind that keep the system clean and build trust.But running alongside this is work that, while less obvious, matters just as much: the quiet prevention of harm. Every day, our teams are monitoring market integrity.Looking for a sign that something is wrong, long before it becomes visible to anyone else.Reviewing financial promotions and taking down misleading adverts before they reach consumers.And working alongside firms to help them deliver good customer outcomes.This kind of work is perpetual. And largely invisible. Let me give you an example.A life sciences company was attempting to raise funding.When we reviewed the prospectus, we realised it resembled a pump-and-dump scheme we were tracking that had already targeted other UK securities.The proposed structure woul

FCA consults on proposals to support strong, consistent standards in the SIPP market

The FCA has set out plans to drive greater consistency of standards in self-invested pensions (SIPPs), while maintaining the flexibility and broad investment choice they offer. Most SIPP providers are already doing the right thing and providing a good service to their customers. However, the FCA has historically found cases of poor due diligence, weak record keeping and gaps in how firms protect money and assets. To drive greater consistency, the FCA is proposing clear standards of due diligence. This is intended to secure better outcomes for consumers by improving consistency and adequacy of due diligence across all SIPP operators.The FCA is also proposing stronger requirements for the handling of pension scheme money and assets. The targeted and proportionate proposals reduce the risk of consumer harm when firms fail or wind down.The proposals will bring greater certainty to the industry, improve confidence in the SIPP market and help ensure consumers can invest through SIPPs with greater confidence. They complement the Consumer Duty by making clear what good practice looks like.Charlotte Clark, director of cross-cutting policy and strategy at the FCA, said: 'SIPPs provide consumers with flexibility and choice. Many firms are doing the right thing, but we want to help consumers invest with greater confidence by ensuring standards are consistent.' Notes to editorsRead the FCA’s Consultation Paper - CP26/20: Adapting our rules for a changing market: self-invested personal pensions (PDF). The consultation closes on 24 August 2026.The FCA is committed to improving the regulatory framework in the SIPP market as part of broader work on modernising pensions and long-term savings under its Pensions Regulatory Priorities - Regulatory Priorities: Pensions report.Read the Discussion Paper on the proposed changes to SIPPs - DP24/3: Pensions: Adapting our requirements for a changing market.

CACEIS UK censured and to pay £31.7m to WealthTek clients for weak financial crime controls

CACEIS UK, an asset servicing bank, has been censured by the FCA and will make a £31.7m voluntary payment to WealthTek clients for failing to act on information that left clients exposed to the risk of financial crime. The FCA has now secured over £57m in total for WealthTek clients in just over a year, with action taken against CACEIS UK, Sapia Partners and Barclays Bank UK.CACEIS UK became WealthTek's sub-custodian in November 2020, meaning they were responsible for keeping its client’s assets safe. WealthTek was then known as Vertus Asset Management LLP.On three occasions, CACEIS UK checked the Financial Services Register which showed that WealthTek wasn’t authorised to hold certain client assets but did not take sufficient action. The firm also did not spot that WealthTek was not allowed to hold client money. However, it went on to open client accounts for WealthTek to use, then failed to monitor those accounts properly by not promptly reviewing and resolving alerts raised by their system.Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said:'Strong financial crime controls keep clients’ assets safe. CACEIS UK’s failures exposed clients to serious risk.'The firm chose to do the right thing with extensive co-operation and agreeing to a substantial voluntary payment, and we decided not to impose a fine as a result.'The voluntary payment will be distributed to WealthTek clients who have not been able to reclaim their money in full.The FCA concluded its investigation in 13 months. This is an example of how it is improving the pace of its investigations.Notes to editorsFinal Notice: CACEIS UK (PDF).In November 2020, CACEIS Bank S.A. merged with KAS Bank N.V.WealthTek LLP was regulated by the FCA from 28 January 2020 until 4 April 2023 when the FCA took action to order the firm to cease operations and to appoint Special Administrators. Clients can see updates from WealthTek’s administrators here.Were it not for CACEIS UK’s co

FCA consults on targeted changes to listing rules for closed-ended investment funds

The FCA has published a consultation paper on proposed changes to its UK Listing Rules for closed‑ended investment funds, focused on the management of conflicts of interest. Closed‑ended investment funds have a distinct structure, operating as both listed companies and investment vehicles. Shareholders appoint a board, which in turn appoints and oversees the investment manager responsible for delivering returns. Shareholder rights are central to this model, enabling investors to hold boards to account and to influence key decisions.The review, announced in March as part of the FCA's ongoing work on the UK Listing Rules, considers how its rules support strong shareholder rights and effective management of conflicts of interest in a range of potential future scenarios. As part of good regulatory practice, the FCA has been stress testing how the rules would operate in different hypothetical situations to ensure they remain robust over time and as markets evolve.This has included exploring a range of plausible scenarios to test whether our conflicts of interest framework would operate consistently in future. As a result of this work, the FCA has identified a small number of targeted and proportionate adjustments to ensure its rules continue to apply consistently in all relevant scenarios. Specifically, they aim to:Ensure the same protections that apply to arrangements with an existing investment manager also apply when a new manager is being appointed, to ensure consistent protections for all changes to investment manager fees and strategies.Recognise the association between a director and a substantial shareholder that proposed them for a board appointment, to strengthen the integrity of boards acting independently of any investment manager.Recognise the conflict arising where a substantial shareholder is also an investment manager and votes on material changes to investment policies, to ensure that the rights of minority shareholders are appropriately protected.The F

​Euribor panel to include KBC Bank​

​Euribor panel to include KBC Bank​ 11 June 2026 Benchmarks Press Releases On 27 May 2026, the European Money Markets Institute (EMMI), the administrator of Euribor, announced the inclusion of KBC Bank in the Euribor panel. ESMA and the Belgian Financial Services and Markets Authority (FSMA) welcome the inclusion of KBC Bank in the panel as a positive development that contributes to strengthening the robustness and reliability of this critical benchmark. Verena Ross, ESMA Chair, said: “The addition of KBC Bank to the Euribor panel reflects the interest of financial institutions active in the money market to contribute to the calculation of Euribor, as well as continued market confidence in this key benchmark. A strong benchmark enhances transparency and the availability of reliable information, which are essential to fostering trust and ensuring the smooth functioning of financial markets.” Jean-Paul Servais, Chairman of the FSMA, said: “We welcome the addition of KBC Bank to the Euribor panel, which further strengthens the robustness and representativeness of this critical benchmark. The representativeness of Euribor has namely always been a key supervisory consideration for the FSMA. The FSMA also greatly values its close cooperation with ESMA within the Euribor supervisory framework. As a member of the Euribor College of Supervisors and being the competent authority for the supervision of the Belgian panel banks, the FSMA will continue to contribute to supervisory convergence together with the other members of the College.” Under the Benchmarks Regulation (BMR), ESMA is responsible for the supervision of EMMI as the administrator of the EU critical benchmark Euribor, while National Competent Authorities (NCAs) are responsible for supervising the banks contributing to Euribor. The FSMA supervises

ESMA 2025 Annual Report: focus on stronger supervision, regulatory simplification, and innovation

ESMA 2025 Annual Report: focus on stronger supervision, regulatory simplification, and innovation 17 June 2026 About ESMA Board of Supervisors Management Board Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its Annual Report for 2025 , highlighting a year of progress in strengthening EU’s financial markets through enhanced supervision, regulatory simplification and innovation. Set against a backdrop of heightened global uncertainty and ongoing discussions on the Savings and Investments Union (SIU), the report illustrates ESMA’s continued contribution to orderly, resilient and attractive EU capital markets. Verena Ross, Chair of ESMA, said: “2025 was a pivotal year for Europe’s capital markets, with momentum shifting from policy ambition to concrete action. ESMA continued to play a central role in advancing more integrated, transparent and competitive EU markets. Throughout the year we worked with National Competent Authorities on the implementation of the Markets in Crypto-Assets Regulation (MiCA) and made substantial progress on our simplification and burden reduction projects. Successful onboarding and implementation of new mandates show ESMA’s organisational capacity and readiness to adapt and deliver, despite ongoing uncertainties." Natasha Cazenave, Executive Director of ESMA, said: “In 2025, ESMA has reached important milestones, from progress on the T+1 settlement cycle to the selection of consolidated tape providers and the implementation of new regulatory frameworks including Green Bond and ESG Rating regulations. Welcoming the potential transformational changes currently discussed by co-legislators on the Markets Integration and Supervision Package, ESMA stands ready to take on new resp

ESMA contributes to global CCP fire drill exercise

ESMA contributes to global CCP fire drill exercise 19 June 2026 CCP In November 2025, 38 central counterparties (‘CCPs’) from across the world, together with clearing members, conducted a coordinated fire drill exercise simulating the failure of a hypothetical common participant. Known as the CCP Global International Default Simulation (CIDS), the exercise aimed to promote preparedness and coordination across jurisdictions. ESMA participated in the lead authorities’ group together with Bundesbank, BaFin, the Commodity Futures Trading Commission and the Bank of England. The group advised on the design of the exercise, monitored its execution, surveyed participants to draw lessons learned and inform design improvements for future exercises. The report published today by the lead authorities summarises the 2025 exercise outcomes and sets out feedback from participating clearing members and clients, alongside the observations and recommendations of the lead authorities. The report follows ESMA’s 2023 report on the Global CCP fire drill. The report highlights several areas where lead authorities expect further progress in the next iteration of the exercise: Encourage industry-led progress to reduce fragmentation in procedures and communication conventions employed by CCPs, and promote greater use of portal-based solutions. Support more realistic testing of porting arrangements to better reflect operational conditions. Consider implementing a voluntary “market stress overlay” module with a coherent cross-CCP macro stress scenario as to fully test operational capacity and constraints under stressed but plausible market conditions. Global fire ‑ drills strengthen the collective understanding of default management processes and improve operational readiness across the financial system, reinforci

ESMA publishes the register of external reviewers under the EuGB Regulation

ESMA publishes the register of external reviewers under the EuGB Regulation 22 June 2026 Supervision The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the register of firms authorised to act as external reviewers of European Green Bonds. External reviewers play a key role in ensuring that the use of proceeds of European Green Bonds is allocated in line with the EU Taxonomy requirements. They are also vital in boosting investor confidence by ensuring that their capital genuinely supports the green transition. As of 22 June 2026, registered external reviewers are subject to ESMA supervision and must fully comply with the requirements of the EuGB Regulation. These include clear senior management accountability, strong analytical capabilities, robust and transparent methodologies, effective internal controls and a comprehensive framework for managing conflicts of interest. The transitional regime provided for under Articles 69 and 70 of the EuGB Regulation has ended. From 22 June 2026, external reviewers listed in ESMA’s transitional regime register must cease their external review activities. To ensure transparency about disclosure requirements for previously issued European Green Bonds, ESMA has created a separate register . This register lists firms that notified ESMA under Articles 69 and 70 and were allowed to provide external reviews during the transitional period and includes the periods during which they were active. Next steps Issuers planning to issue a European Green Bond should consult ESMA’s register to select a registered external reviewer to perform their pre-issuance, post-issuance and, where applicable, impact report review. ESMA will update the register regularly to reflect any changes to t

Simpler climate reporting rules could save firms £20m annually

Investment firms could save around £20m a year under new proposals from the FCA to simplify climate reporting for investment products. The FCA estimates it could deliver these savings by replacing detailed product-level reports based on the Task Force on Climate-related Financial Disclosures (TCFD) with simpler, more targeted information for retail investors, in line with the Consumer Duty.The changes aim to give investors clearer insight into how climate risks – such as floods, storms and othe

Press Release - Policy Statement on the Directive on the Register of Beneficial Owners of Express Trusts

Press Release - Policy Statement on the Directive on the Register of Beneficial Owners of Express Trusts

ESAs publish the first report on DORA major ICT-related incidents

ESAs publish the first report on DORA major ICT-related incidents 03 June 2026 Digital Finance and Innovation Joint Committee The European Supervisory Authorities (EBA, EIOPA and ESMA) today published their first annual overview of major ICT-related incidents in the EU financial sector based on a reporting mechanism established by the Digital Operational Resilience Act (DORA). It shows that ICT risks are increasing

Football clubs warned about questionable sponsorship deals with unauthorised financial firms

Football clubs have been warned not to put their fans’ cash at risk by signing sponsorship deals with financial firms that aren't allowed to operate in the UK. According to the FCA, a number of unauthorised firms, including crypto businesses and trading platforms, are using sponsorship to target unwitting football fans.These unauthorised firms may be breaching UK financial services laws by providing financial services in the UK without authorisation. Fans using these firms risk losing all their

ESMA publishes latest edition of its newsletter

ESMA publishes latest edition of its newsletter 01 June 2026 ESMA newsletter The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today the latest edition of its Spotlight on Markets newsletter , covering ESMA’s key activities and publications from April and May 2026. This edition opens with key takeaways from ESMA’s conference “A New Era for EU Capital Markets” , marking ESMA’s 15th anniversary and focusing on the ambition to build more integrated, efficient and attractive capital markets, with the Savings and Investment Union at the heart of the discussions. Top news highlights include ESMA’s work to advance the simplification of EU reporting frameworks for funds and transactions , the launch of its sixth stress test exercise for Central Counterparties (CCPs) , and the publication of guidance on the effective use of resolution tools in CCP crisis planning . Key publications featured in this edition include: a call for evidence on the structure of European equity markets ; reporting templates and instructions for the Active Account Requirement under EMIR 3 ; the Joint Committee Annual Report for 2025, highlighting digitalisation, cyber resilience and sustainable finance as key priorities. Other updates cover ESMA’s enforcement activities for corporate reporting across the EEA , progress on ESEF implementation with an updated taxonomy , and supervisory convergence in the funds sector . The newsletter also provides an overview of upcoming events and consultations. The Spotlight on Markets newsletter is published regularly and is available on ESMA’s website . For regular updates, follow ESMA on LinkedIn , X and Instagram .

ESMA consults on revised guidelines to support smoother allocations and confirmations under T+1

ESMA consults on revised guidelines to support smoother allocations and confirmations under T+1 26 May 2026 Post Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on the updated guidelines on standardised procedures and messaging protocols. This review is part of ESMA’s work to support market participants in preparing for the transition to

Review of financial promotion approvers finds some firms need to raise standards

Firms that approve financial promotions should be doing more to protect consumers, an FCA review has found. The FCA found that the strongest firms were applying the Consumer Duty from the start of their processes. They were able to make sure that every promotion approved was accurate, clear and reached the right audience.However, the FCA also found that some firms approved adverts with unsubstantiated claims or allowed retail investors to see promotions intended for professional clients. In som

Bafin warns consumers about the websites Swisscape(.)com and fxplus(.)ai

The Federal Financial Supervisory Authority (Bafin) warns consumers about a series of almost identical websites. According to information available to Bafin, the operators are providing banking business and/or financial services on these websites without the required authorisation. The operators are not supervised by Bafin.

DEX Capital: The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website dexcpt(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website dexcpt(.)com. According to information available to Bafin, the operator, DEX Capital, who claims to be based in Hooglede, Belgium, is providing financial and investment services on this website without the required authorisation. The operator contacts investors purportedly to effect the payments due but not paid out to the investors on other online trading platforms. However, the investors still do not receive these payments even after paying a commission.

sogoinvest: The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website sogoinvest(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website sogoinvest(.)com. According to information available to Bafin, the operator claims to be based in Basel, Switzerland is providing financial and investment services on this website without the required authorisation. The operator falsely claims to be regulated in the United Kingdom. This is not correct.

Bafin warns consumers about the website elitetradingsol(.)com and suspected identity fraud

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website elitetradingsol(.)com. According to information available to Bafin, financial and investment services are being offered on this site without the required authorisation.

Firms have improved but must do more to prevent sanctions breaches

Financial firms have made progress in preventing sanctions breaches – with £37bn worth of assets frozen in the UK as of last year – but gaps remain, warns the FCA. The Office of Financial Sanctions Implementation (OFSI) and the Office of Trade Sanctions Implementation (OTSI) implement financial and trade sanctions. The FCA supports them through its role supervising firms within the financial services sector. This includes checking they have adequate sanctions systems and controls.Since February 2022, the FCA has proactively assessed the sanctions systems and controls of over 150 firms across a range of financial services sectors. In its latest review, the FCA found:Repeated examples of firms exhibiting strong controls and identifying potential sanctions breaches before they occurred.The most common root causes of reported sanctions breaches were weaknesses in due diligence, alert management, transaction and name screening, as well as the management of frozen assets and compliance with licences. Firms face challenges in detecting and preventing specific breaches of trade sanctions.The range of controls used for trade sanctions compliance - related to bans on the export and import of goods, technologies and services - was greater than those used for financial sanctions.The regulator is sharing good and poor practice it identified to help all firms further strengthen their sanctions controls.Reports from firms continue to relate primarily to the Russian sanctions regime, but the FCA also saw reports relating to Libya and, increasingly, Iran and North Korea.Today (28 May), the FCA has signed a Memorandum of Understanding (MoU) with OTSI (PDF). It sets out the arrangements for cooperation and the sharing of intelligence between the two organisations.There is already an MoU between the FCA and OFSI (PDF).Notes to editorsSanctions systems and controls in our firms: our findings.The FCA previously looked at firms’ sanctions systems and controls in 2023.

Court approves distribution of money recovered from Argento Wealth

In its 19 May 2026 judgment, the High Court approved pro rata distribution to eligible investors of money recovered by the FCA from Argento Wealth Limited (AWL). Eligible investors must act by 1 August 2026. You can receive a share of the money recovered if you:Invested in the AWL Loan Scheme; orInvested in the EMB Scheme and if your investment was arranged by AWL or its sub-distributors.We will make payments to eligible investors, as defined in the court judgment, who provide their bank account details on or before 1 August 2026.If we do not have your bank details by this date, then you will be unable to receive a distribution payment.The same applies if we are not aware of your investment by that date.We will write to eligible investors named in Appendices 1 to 2 of the court order using the contact details we already hold. Appendices 1 to 2 are not being published for privacy reasons.If you have not previously been in contact with us, but you invested in the AWL Loan Scheme or in EMB Fund Limited (via AWL or its sub-distributors) and you think you may be eligible, please contact us as soon as possible, and no later than 1 August 2026.If we have previously contacted you but your details have changed, please also contact us as soon as possible, and no later than 1 August 2026.When contacting us, please include:Your full name.Your current home address and email address.Your home address and email address at the time you made the investment (if different).Details of your investment and the total amount invested.Your bank account details for payment, including account number, sort code and/or IBAN, and the account holder names.Please send this information, preferably by email to: opbloomfieldinvestors@fca.org.ukAlternatively, you can write to: Freepost – RTZE – RHAL – URAJ, Unauthorised Business Department – RE01157, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN.More informationRead the High Court’s order for distribution (PDF) (with Appendices 1 t

New Q&As available

New QAs available 28 May 2026 Digital Finance and Innovation Market Abuse Sustainable finance The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published the following question and answer: EU ESG Ratings Regulation (ESGRR) Defined ranking system (2853) Transitional provisions (2854) ESG rating providers established after date of entry into force (2855) Material changes to registration information (2856) Market Abuse Regulation (MAR) Regulation Annually conducted audit under Commission Delegated Regulation (EU) 2016/957 (2839) Markets in Crypto-Assets Regulation (MiCA) Exemption from white paper requirements when offering a crypto-asset other than an ART or EMT (2671) Questions and Answers section

ESMA’s annual data report shows increased quality, wider use and digital progress

ESMA’s annual data report shows increased quality, wider use and digital progress 29 May 2026 Market data The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today its annual report on the quality and use of regulatory data . It shows that improvements in data quality and data use reinforce each other in a virtuous cycle, supporting more effective supervision and market monitoring across the EU. This year’s edition reflects an expansion in the scope of ESMA’s data quality and use activities, with measurable improvements in data quality across major regulatory datasets, including EMIR, SFTR, MiFIR, AIFMD and MMFR. These improvements are accompanied by extensive and growing supervisory use of the data by ESMA and national competent authorities (NCAs), underlining the central role of high-quality data in supporting investor protection, financial stability, orderly markets and market integrity. In parallel, ESMA has advanced simplification and burden reduction efforts through a 2025 Call for Evidence gathering stakeholder input on streamlining reporting across EMIR, MiFIR and SFTR, including options to remove duplications or apply a “report once” approach [LINK]. It is also developing an integrated reporting framework for investment funds to harmonise requirements, reduce fragmentation, and support a more efficient and centralised EU data environment. In addition to the datasets covered in previous editions, the report now includes further reporting regimes and registers, such as Prospectus reporting and ICT-related incident reporting under the Digital Operational Resilience Act (DORA). The publication also underlines how ESMA is increasing automation and use of advanced analytical tools, as well as strengthening cooperation with NCAs through common tools, shared dashboards and coordinated data quality e

Lapse of authorisation license of the Company Providing Administrative Services Enter Winglobe Management Ltd

Lapse of authorisation license of the Company Providing Administrative Services Enter Winglobe Management Ltd

Press Release - Consultation on Amendments to Register of Beneficial Owners Directive

Press Release - Consultation on Amendments to Register of Beneficial Owners Directive

Lapse of authorisation license of the Company Providing Administrative Services Kasselos Limited

Lapse of authorisation license of the Company Providing Administrative Services Kasselos Limited

AMLA’s public consultations regarding the draft GLs under article 10(4) and the draft RTSs under articles 16(4) and 17(3) of AMLR

AMLA’s public consultations regarding the draft GLs under article 10(4) and the draft RTSs under articles 16(4) and 17(3) of AMLR

Bafin warns consumers about a series of platforms with the slogan “Empower your financial growth“

The Federal Financial Supervisory Authority (Bafin) warns consumers about a series of almost identical websites. Bafin has information that these websites are being used to offer financial, investment and cryptoasset services without the required authorisation.

Handelq(.)com and bulltrading24(.)com: Bafin warns against websites

The German Financial Supervisory Authority (Bafin) warns about the websites handelq(.)com and bulltrading24(.)com. It is suspected that the unknown operators are offering financial and crypto-asset services without the necessary authorisation. The websites advertise that investments in financial instruments such as cryptocurrencies are possible via the supposed trading platform.

Bafin warns consumers about the website nordstate(.)org

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website nordstate(.)org. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Beehivecapital(.)pro: Bafin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website beehivecapital(.)pro, previously beehivecapital(.)org. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Bafin warns consumers about the website bitcoinera(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website bitcoinera.com. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Bafin warns consumers about services offered by Elementum Ventures

The Federal Financial Supervisory Authority (Bafin) warns consumers about the company Elementum Ventures and the services it is offering. Bafin suspects the unknown operators, who claim to be based in New York, United States, of offering consumers financial, investment and cryptoasset services without the required authorisation. Elementum Ventures is currently offering its services via the websites elementumventures(.)ai and elementumventures(.)com.

Ventus Energy Group OÜ: Bafin orders the cessation and winding-up of deposit business

In an order dated 5 May 2026, Bafin ordered Ventus Energy Group OÜ, domiciled in Tallinn, Estonia, to immediately cease and wind up without delay the deposit business it has been conducting without authorisation.

ESMA publishes shortlist of candidates for position of Chair

ESMA publishes shortlist of candidates for position of Chair 20 May 2026 About ESMA Board of Supervisors Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the shortlist of candidates for the position of Chair, which it has sent to the Council of the European Union (Council) and the European Parliament (Parliam

Our response to the Treasury’s policy statement on Consumer Credit Act reform

The Treasury has published its policy statement today on reform of the Consumer Credit Act 1974 (CCA). Reform of the CCA is an important step towards a more flexible regime that supports effective competition and innovation, while maintaining appropriate consumer protection both now and in the future. The proposals set out a framework that places greater emphasis on FCA rules and guidance rather than prescriptive requirements set out in legislation.We intend to consult on the key elements of the

Young drivers warned about fake insurance sold on social media

Half (49%) of young drivers have bought insurance through social media or messaging apps, new research reveals. With 4 in 10 (39%) unconfident in spotting the signs of a fake policy, thousands could be paying for cover that doesn’t exist. The FCA is warning 17-to 25-year-old drivers about 'ghost broking' scams where criminals sell bogus insurance policies through social media and messaging platforms.Ghost brokers pose as legitimate insurance sellers but offer cheap rates. The policies they sell

Lapse of authorisation license of the Company Providing Administrative Services Enter Winglobe Management Ltd

Lapse of authorisation license of the Company Providing Administrative Services Enter Winglobe Management Ltd

Press Release - Consultation on Amendments to Register of Beneficial Owners Directive

Press Release - Consultation on Amendments to Register of Beneficial Owners Directive

Lapse of authorisation license of the Company Providing Administrative Services Kasselos Limited

Lapse of authorisation license of the Company Providing Administrative Services Kasselos Limited

AMLA’s public consultations regarding the draft GLs under article 10(4) and the draft RTSs under articles 16(4) and 17(3) of AMLR

AMLA’s public consultations regarding the draft GLs under article 10(4) and the draft RTSs under articles 16(4) and 17(3) of AMLR

Bafin warns consumers about a series of platforms with the slogan “Empower your financial growth“

The Federal Financial Supervisory Authority (Bafin) warns consumers about a series of almost identical websites. Bafin has information that these websites are being used to offer financial, investment and cryptoasset services without the required authorisation.

Bafin warns consumers about the website nordstate(.)org

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website nordstate(.)org. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Ventus Energy Group OÜ: Bafin orders the cessation and winding-up of deposit business

In an order dated 5 May 2026, Bafin ordered Ventus Energy Group OÜ, domiciled in Tallinn, Estonia, to immediately cease and wind up without delay the deposit business it has been conducting without authorisation.

ESMA publishes shortlist of candidates for position of Chair

ESMA publishes shortlist of candidates for position of Chair 20 May 2026 About ESMA Board of Supervisors Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the shortlist of candidates for the position of Chair, which it has sent to the Council of the European Union (Council) and the European Parliament (Parliam

Young drivers warned about fake insurance sold on social media

Half (49%) of young drivers have bought insurance through social media or messaging apps, new research reveals. With 4 in 10 (39%) unconfident in spotting the signs of a fake policy, thousands could be paying for cover that doesn’t exist. The FCA is warning 17-to 25-year-old drivers about 'ghost broking' scams where criminals sell bogus insurance policies through social media and messaging platforms.Ghost brokers pose as legitimate insurance sellers but offer cheap rates. The policies they sell

Handelq(.)com and bulltrading24(.)com: Bafin warns against websites

The German Financial Supervisory Authority (Bafin) warns about the websites handelq(.)com and bulltrading24(.)com. It is suspected that the unknown operators are offering financial and crypto-asset services without the necessary authorisation. The websites advertise that investments in financial instruments such as cryptocurrencies are possible via the supposed trading platform.

Bafin warns consumers about the website bitcoinera(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website bitcoinera.com. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Bafin warns consumers about services offered by Elementum Ventures

The Federal Financial Supervisory Authority (Bafin) warns consumers about the company Elementum Ventures and the services it is offering. Bafin suspects the unknown operators, who claim to be based in New York, United States, of offering consumers financial, investment and cryptoasset services without the required authorisation. Elementum Ventures is currently offering its services via the websites elementumventures(.)ai and elementumventures(.)com.

Bafin warns consumers about the website nordstate(.)org 

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website nordstate(.)org. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Beehivecapital(.)pro: Bafin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website beehivecapital(.)pro, previously beehivecapital(.)org. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Our response to the Treasury’s policy statement on Consumer Credit Act reform

The Treasury has published its policy statement today on reform of the Consumer Credit Act 1974 (CCA). Reform of the CCA is an important step towards a more flexible regime that supports effective competition and innovation, while maintaining appropriate consumer protection both now and in the future. The proposals set out a framework that places greater emphasis on FCA rules and guidance rather than prescriptive requirements set out in legislation.We intend to consult on the key elements of the

Bafin warns consumers about the website viforex(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website viforex(.)com. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

exomarkets(.)pro: BaFin warns consumers about website and identity theft

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website exomarkets(.)pro. According to information available to BaFin, this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

OPTE GRUP: Bafin warns consumers about the website opte-grup(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered by OPTE GRUP. BaFin suspects the unknown operators, who purportedly have their registered office in Ismaning, of using the website opte-grup(.)com to offer consumers banking business, financial services and/or payment services without the required authorisation.

Blaunexus Financial Services LLC: Bafin warns consumers about the website blaunexus(.)inc

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website blaunexus(.)inc. According to information available to Bafin, financial and investment services are being offered on this site without the required authorisation.

helixapp(.)de / helix-app(.)pro / coinberg(.)eu / coinberg(.)pro: Bafin warns against websites and calls attention to identity theft

The German Financial Supervisory Authority (Bafin) warns against the websites helixapp(.)de, helix-app(.)pro, coinberg(.)eu, coinberg(.)pro, which are operated under the name Helix-A and Coinberg. It is suspected that the unknown operators are offering financial and crypto-asset services without authorisation. Consumers are being misled into investing in financial instruments such as crypto-assets. Contrary to the operators’ claims, there is no connection whatsoever with Gesellschaft f&#25

Bafin warns consumers about the website gutekredit(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the company GUTEKREDIT and the services it is offering. Bafin suspects the unknown operators, who purportedly have their registered office in Ludwigsburg, Germany, of using the website gutekredit(.)com to offer loans to consumers and thus conduct banking business without the required authorisation.

Bafin warns consumers about a series of platforms with the slogan “Empower your financial growth“

The Federal Financial Supervisory Authority (Bafin) warns consumers about a series of almost identical websites. Bafin has information that these websites are being used to offer financial, investment and cryptoasset services without the required authorisation.

ESMA launches a call for evidence on the structure of European equity markets

ESMA launches a call for evidence on the structure of European equity markets 30 April 2026 Trading The European Securities and Markets Authority (ESMA) has published a call for evidence (CfE) presenting a data driven analysis of the evolution of trading in European equity markets between 2022 and 2025, based on MiFIR transaction reporting data. The CfE invites stakeholder feedback on observed trends and their potential regulatory

ESMA launches its sixth stress test exercise for Central Counterparties

ESMA launches its sixth stress test exercise for Central Counterparties 30 April 2026 CCP Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today launched its sixth stress test exercise for Central Counterparties (CCPs) . The CCP stress test framework drafted by ESMA for the purpose of this exercise is supported by an adverse market scenar

ESMA advances the simplification of EU reporting frameworks for funds and transactions

ESMA advances the simplification of EU reporting frameworks for funds and transactions 04 May 2026 Fund Management Market data Press Releases Securities Financing Transactions Simplification and Burden Reduction The European Securities and Markets Authority (ESMA), the EU financial markets regulator and supervisor, has launched a harmonised approach to funds reporti

ESMA consults on a new simplified approach to updating MMF stress test parameters

ESMA consults on a new simplified approach to updating MMF stress test parameters 05 May 2026 Fund Management Simplification and Burden Reduction The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on a new approach to updating the parameters for stress test scenarios under the Money Market Funds framework.

ESMA promotes proportionate supervision of MiFID II sustainability requirements

ESMA promotes proportionate supervision of MiFID II sustainability requirements 06 May 2026 Investor protection The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has issued a statement presenting the results of its Common Supervisory Action (CSA) on how sustainability is integrated into firms’ suitability assessment as well as into processes and procedures for product govern

ESMA identifies areas for further supervisory convergence on compliance and internal audit in the funds sector

ESMA identifies areas for further supervisory convergence on compliance and internal audit in the funds sector 11 May 2026 Audit Fund Management The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the results of its 2025 Common Supervisory Action (CSA) on the compliance and internal audit functions of fund managers , carried out in with the partici

European Commission launches call for candidates for the ESAs’ Board of Appeal

European Commission launches call for candidates for the ESAs’ Board of Appeal 12 May 2026 Board of Appeal The European Commission has launched a call for expression of interest for the appointment of members to the Board of Appeal of the three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs). This call aims to establish a reserve list of qualified candidates to fill vacancies that may aris

ESMA issues guidance on effective use of resolution tools in CCP crisis planning

ESMA issues guidance on effective use of resolution tools in CCP crisis planning 13 May 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a resolution briefing for Central Counterparties (CCPs). The briefing provides practical guidance to National Resolution Authorities (NRAs) on how to operationalise the write-down and conversion of instruments

Statement on complaints about Wellesley & Co Ltd

We have written to people who complained about how we handled Wellesley & Co Ltd (WCL). Complainants raised concerns about our actions in relation to the wider Wellesley Group. WCL was the only FCA-regulated company in the Group and was responsible for approving financial promotions marketed to investors.We carefully reviewed all the complaints that were made and upheld one about how part of WCL's authorisation process was handled at the time. However, we found this did not cause investors'

Cryptoasset firms can request pre-application meetings from 11 May 2026

From 11 May 2026, cryptoasset firms preparing for the new FSMA regime will be able to request a pre-application meeting with us via our Pre-Application Support Service (PASS). Pre-application meetings are free of charge and give firms the opportunity to discuss their plans with us and ask questions before submitting an application for authorisation or variation of existing permissions.This comes ahead of the new regime for cryptoasset regulation, where firms wanting to undertake the new regulat

Kanda Products & Services Ltd enters liquidation

On 6 May 2026, Kanda Products and Services Ltd (Kanda) entered liquidation. Philip Harris and Neville Side of FRP Advisory Trading Limited have been appointed as Joint Liquidators. Kanda is authorised by the FCA as a credit broker. It operated a network of around 700 introducer appointed representatives, mainly tradespeople who introduced consumers to finance for home improvement and other goods and services.On 16 February 2026, Kanda agreed to a voluntary requirement with the FCA which restric

FCA reviews whether investment firms are doing enough to support bereaved customers

The FCA is reviewing how consumer investment firms support bereaved customers and whether they're getting it right. Fewer than half of bereaved customers (47%) felt they received the support they needed from financial firms, according to research (PDF).What the FCA is looking atThe review will focus on firms that advise, manage, or administer investments - including platforms, advisers and wealth managers. The FCA will examine the experience customers have from the moment the firm is told about