New FCA work programme for 2025/26

The UK Financial Conduct Authority (FCA) has published its work programme for 2025/26, alongside a press release summarising its approach to supporting the testing of innovative products and new firms. The work programme sets out how the FCA will deliver its four strategic priorities of being a smarter regulator, supporting growth, helping consumers navigate their financial lives and fighting financial crime, as set out in the FCA's five year strategy.

The FCA sets out the following actions that it will be focusing on in 2025 and 2026, among other things:

• To be a smart (more effective and efficient) regulator, the FCA will be more selective with data collection to achieve regulatory objectives, digitise its authorisation process, enhance its supervision model and improve use of intelligence and data to spot and act on harm.
• To support growth, the FCA will accelerate a review of capital requirements for specialised trading firms, progress changes to the contactless limit, develop the regulatory framework for open finance (prioritising SME lending) and work with partners to deliver the National Payments Vision. The FCA will also be continuing its work to reduce regulatory burdens, in particular following feedback on the Consumer Duty requirements, and will take steps to make it easier for financial services firms to start up and grow, including establishing a framework for firms to conduct limited regulated activities in certain conditions. In addition, the FCA is working with the government, City of London Corporation and the Prudential Regulation Authority to develop a concierge regime for firms seeking UK authorisation and to export services. The FCA will also work to establish the Private Intermittent Securities and Capital Exchange System (PISCES), which is intended to offer greater access to investment opportunities in private companies.
• To help consumers navigate their lives, the FCA intends to provide clarity on motor finance redress and highlights its review of motor finance discretionary commission complaints which is assessing if consumers have suffered loss due to misconduct. The FCA will work with government to bring deferred payment credit within the FCA's regulatory perimeter so that consumers can use Buy Now Pay Later products.
• To fight financial crime, the FCA will continue to implement measures to detect and prevent financial crime and collaborate with other firms to enhance enforcement, particularly to combat money laundering.

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