Three finfluencers appeared before Westminster Magistrate’s Court yesterday, each charged with an offence relating to their social media posts.

The FCA is not planning on developing any additional regulations concerning the use of artificial intelligence (AI) by financial services firms.

Former NASA physicist John Burford has been sentenced to two years in prison in a £1m UK investment fraud case, following a prosecution brought by the FCA.

The FCA has revoked the authorisation of Manchester-based claims management firm Financial Recovery Solutions Ltd (FRN: 836358) because it said that it considers that the firm is carrying on no regulated activity.

Two professional day traders, Matthew and Nikolas West, have been sentenced for insider dealing and ordered to pay back more than £280,000.

Targeted Support should be judged on ‘whether it’s “complementing, not cannibalising”, the advice market, according to Steven Cameron, pensions director at Aegon.

The FCA’s Targeted Support proposals ‘could be detrimental to consumers’, according to The Society of Pension Professionals.

Wealth manager trade body PIMFA has called for clarity in key areas over the FCA’s Targeted Support proposals to ensure the regime delivers on its aims and avoids consumer confusion.

The FCA has appointed Will Self, chief executive of InvestAcc Group, as chair of its Smaller Business Practitioner Panel.

The FCA faces a challenge if it wants to make its Targeted Support framework work in practice, according to James Heal, director of public policy at St James’s Place.

He said it’s essential that the framework is scalable for firms and trusted by consumers.

Mr Heal said: “As it stands, rules on how firms handle additional volunteered information risk making delivery impossible in person.

“A simple playback mechanism, where customers confirm they share the common characteristics the support is built on, would solve this and allow delivery across both digital and face-to-face channels.”

He said simplified advice must also be part of the picture. “Today it sits too close to full advice to work at scale. A more distinct, proportionate regime could bridge the gap between targeted support and personalised advice, while opening up new pathways for future advisers.

“Ultimately, Targeted Support can only succeed within a wider ecosystem from financial education and guidance, through targeted support and simplified advice, to full personalised advice.”

The regulator’s consultation into its new proposals closes today and has been widely welcomed by adviser firms.

Mr Heal said Targeted Support “could be a regime that gives firms the confidence to innovate and consumers the confidence to act.”

He said The FCA’s approach shows “real progress” with clearer boundaries from personalised advice, a stronger focus on consumer testing, and the “sensible decision” to remove pension consolidation from scope.

The Targeted Support proposals have been broadly welcomed by financial advisers.

Half (48%) of financial advisers expect the more relaxed regulatory framework brought about by Targeted Support to be an opportunity to attract new clients in the next 18 months, according to a report from Nextwealth and Aegon.

The FCA published its proposals on ‘targeted support’ in June. The changes would allow firms to make financial guidance suggestions to groups of consumers with 'common characteristics'.

In its proposals the FCA said: “We are proposing a new form of support – targeted support – in pensions and investments, which would enable firms to provide suggestions designed for groups of consumers with common characteristics to help them make important decisions."

The FCA said the reforms should set the framework for the next 20-30 years, to support consumers now as well as future generations.

Without clear guidance from the FCA and the Financial Ombudsman Service firms face the risk of 'hindsight regulation', the CEO of Quilter has warned as the regulator’s consultation on Targeted Support ends.

The FCA is to reduce or remove regulatory returns for 95% of regulated firms, it said today.

The FCA has produced a workplace savings guide to provide clarity for employers on the rules surrounding employment-based schemes.

The FCA has revealed it received more than 4,000 'fake FCA' scam reports from consumers in the first six months of 2025.

The FCA has today approved the London Stock Exchange to operate a PISCES platform, a new type of private stock market designed to attract HNW investors and others. 

The FCA has revoked the authorisation of Manchester-based claims management firm Barclay Blackthorn Legal Services Ltd (FRN: 836619) because it said that it considers that the firm is carrying on no regulated activity.

The FCA has this week stripped permission to carry out regulated business from a Shropshire-based claims management company called Claimpoint Ltd (FRN 830722).

Leicester-based Trust Financial Planning (FRN: 407457) has entered liquidation after being subject to voluntary restrictions from the FCA earlier this year.

The number of new whistleblowing reports received by the FCA rose 25% year on year to 315 between April and June (Q2 2024: 253 reports).

The FCA has warned firms about their 'off-channel' communications, which could include mobile phone calls and emails, after its review showed that staff at most firms breach internal policies.