The number of active FCA-authorised individuals dropped significantly in March with a net loss of more than 800 people on the FCA Register/Directory, according to data services provider Autus.

The FCA is proposing to increase its minimum and flat rate fees, as well as application fees, by an average 8.75% which could mean Financial Planners facing an overall hike in charges of 4.9%.

The FCA has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with multiple counts of conspiracy to commit fraud by false representation after they allegedly ran an unauthorised investment scheme accused of defrauding investors out of £3.9m.  

The FCA has set out its business plan for 2024/25, promising to continue to focus on preventing serious harm to consumers, setting higher standards and promoting competition.