The FCA is planning to raise its penalty for individuals charged with market abuse from £100,000 to £150,000, an increase of 50%.
The regulator said the rise was planned to take account of inflation in recent years.
It last updated key thresholds in 2010 but said inflation, tribunal decisions and new cryptoasset powers have changed the landscape since then.
The FCA is reviewing a number of changes to its penalty and decisions-making policies.
It said the changes, “will improve transparency and consistency. They will help us act faster, deter misconduct and maintain confidence in UK markets.”
It is proposing a number of targeted updates to its penalty and decision-making policies:
• Market abuse: for the most serious cases, raising the minimum for individuals from £100,000 to £150,000 to account for inflation.
• Deterrence for wealthier individuals: making clear it may increase penalties for deterrent effect, having regard to income and assets.
• Penalties for individuals – relevant income: clarifying how it treats deferred bonuses, pay and shares, in line with recent tribunal decisions.
• Serious financial hardship thresholds: raising income and capital thresholds to reflect living costs and update them over time.
• Settlement decision-makers: allowing more flexibility in who makes settlement decisions in some cases.
• Cryptoasset market abuse regime: consequential amendments: extending its penalty framework to cover cryptoasset market abuse and reflect new powers under the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026.
It has set up a consultation on the changes and asked to receive comments by 10 August. It wants to hear from people subject to FCA enforcement action, including senior managers, directors and employees of authorised firms.
It also wants to hear the view of people involved in tackling market abuse, including those outside regulated firms as well as legal, compliance and enforcement professionals, and industry bodies and advisers.
Interested parties can use the regulator’s online response form or email