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Regulatory Horizon
78 articles
FCA CP26/28: What the AIFM regime reforms mean for wealth managers and firms
The FCA’s proposed AIFM reforms highlight a wider regulatory shift towards proportionate regulation, stronger governance and better-quality reporting. While the direct impact on many wealth managers may be limited, the changes could enhance the information firms use to support due…
Will Value for Money assessments change how advisers compare pension providers?
The FCA's proposed Value for Money (VFM) Framework could reshape how workplace pension schemes are assessed, introducing greater transparency, benchmarking and scrutiny by measuring value across investment performance, service quality, costs and member outcomes, rather than charges alone.
FCA highlights value concerns in legacy pension products
The FCA's review of legacy non-workplace pensions reveals that many older, closed products offer poor value due to complex charges and weak data, requiring urgent review under the Consumer Duty.
BNPL regulation has arrived: the compliance challenge now is proving good customer outcomes
The FCA's Consumer Duty and new affordability rules now apply in full to Buy Now Pay Later providers, and the regulator's focus is shifting from implementation to evidencing good customer outcomes in practice.
Customer journeys and vulnerability lessons from the FCA’s basic bank account review
The FCA's mystery shopping review of basic bank accounts found nine major banks committed to improving customer journeys, after around a third of interactions were rated poor, particularly for vulnerable and financially excluded customers.
The Mills Review could reshape AI governance in financial services
The FCA's final findings of the Mills Review detail how the shift from AI assistance to AI delegation will impact accountability and governance in financial services by 2030.
FCA partially suspends motor finance scheme: four key takeaways
The FCA's motor finance compensation scheme has been partially suspended following an Upper Tribunal ruling, but the regulator expects firms to continue preparation and complaint gathering.
Consumer Duty: outcomes, oversight and governance
Most firms now have Consumer Duty governance and reporting in place, but the FCA's focus has moved to whether those arrangements can be shown to deliver good customer outcomes in practice.
Five priorities for insurers following the FCA’s financial crime review
The FCA's multi-firm review of insurers highlights that financial crime frameworks are often established but not sufficiently tailored or embedded in daily operational practice.
Rethinking financial crime controls in a system-wide risk environment
The FCA is raising expectations for financial crime controls, focusing on whether firms can evidence that they reduce real-world risk as fraud, money laundering, sanctions evasion and cyber-enabled crime become more interconnected.
Why no-loss outcomes still signal risk in defined benefit transfer redress
Rising gilt yields have pushed many historic defined benefit transfer redress cases towards no-loss outcomes, but the result reflects a point-in-time calculation rather than a permanent conclusion.
Bereavement support under scrutiny for investment firms
The FCA has announced a review into whether consumer investment firms are doing enough to support bereaved customers, after finding fewer than half felt they received the support they needed. The review tests whether Consumer Duty outcomes are evidenced in…
What the FCA’s latest ongoing advice focus means for firms
The FCA is moving away from process-led oversight of ongoing advice towards evidence that services genuinely deliver value. Its CP26/10 proposals would replace the mandatory annual suitability review with a more flexible, needs-based approach.
What the FCA motor finance redress scheme update means for lenders
The FCA has issued afurther update on its motor finance redress scheme following four legal challenges to its design. It continues to defend the scheme while asking lenders to keep preparing regardless of how the legal process unfolds.
How FOS reforms will affect financial services firms
The UK government has announced plans to reform the Financial Ombudsman Service, narrowing its discretion under the 'fair and reasonable' test and establishing a formal FCA referral process.
Motor finance redress scheme meets resistance
The FCA's proposed motor finance redress scheme is now facing four legal challenges, from a consumer representative body and three lenders, introducing uncertainty over timing while the regulator maintains its preferred industry-wide approach.
Why ongoing advice is facing a regulatory reset
The FCA's new Consumer Investments Regulatory Priorities report and its consultation on simplified advice signal a shift towards proportionate, evidence-based supervision. For ongoing advice services, that means firms must show how their model continues to meet client needs and deliver…
FCA Consumer Understanding: compliance next steps
The FCA's publication on Consumer Understanding emphasizes that firms must move beyond design intent and actively evidence customer comprehension using robust management information and real-world testing.
What the FCA’s 2026 Regulatory Priorities reports reveal about the direction of supervision
The FCA has published nine sector Regulatory Priorities reports replacing individual portfolio letters with a single annual reference point. Across every sector the message is consistent: firms must evidence that their frameworks work in practice, not just that they exist…
FCA Regulatory Priorities for Payments: What firms need to act on now
The FCA's March 2026 report outlines a focused supervisory agenda for payment and e-money firms, emphasizing safeguarding, Consumer Duty, and operational resilience.
FCA Retail Banking Priorities: What Banks Must Do Now
The FCA’s March 2026 Regulatory Priorities report for retail banking sets out four supervisory focus areas: access to cash, Consumer Duty evidencing, financial crime and operational resilience.
FCA Regulatory Priorities for the Wholesale Buy Side: what firms need to evidence now
The FCA's consolidated wholesale buy-side report replaces individual portfolio letters, demanding direct board engagement and proof of operational resilience in practice.
FCA Regulatory Priorities for Wholesale Markets: why boards should act now
The FCA's new annual sector reports for wholesale markets are directed at boards, outlining expectations for direct control, technological accountability, and operational resilience.
Five Consumer Duty priorities to refine for your third Board report
As firms prepare for their third annual Consumer Duty Board report, the FCA is focusing on the transition from process-tracking to proving outcome effectiveness and visible board challenge.
AI in financial services: control, evidence and regulation
As AI becomes embedded across financial services, TCC explains why governance maturity, not AI capability, is now the limiting factor, and what firms need to prove to regulators about control and accountability.
FCA priorities for 2026/27: Consumer Duty and financial crime
The FCA has published its 2026/27 Annual Work Programme, emphasizing a 'smarter regulator' model that leverages data, digital supervision, and intensified focus on Consumer Duty and financial crime.
FCA’s final motor finance redress scheme: What lenders need to do now
The FCA's publication of PS26/3 sets out the final rules for the Motor Finance Consumer Redress Scheme, dividing the program into two distinct operational schemes with complex cap structures.
FCA announced Motor Finance consumer redress scheme
The FCA has officially confirmed a standardised, industry-wide compensation scheme for car finance customers affected by undisclosed commission arrangements between 2007 and 2024.
Five priorities for managing non-financial misconduct risk
The FCA's recent focus on non-financial misconduct signals a shift in regulatory expectations, and firms need clear policies, cultural change and independent validation to manage the risk and demonstrate compliance.
Key takeaways from CP26/10: Simplifying pensions and investment
The FCA has published CP26/10, a consultation proposing to consolidate COBS 9 and 9A, replace the 'necessary' information test with a 'sufficient' information standard, and remove the mandatory annual review requirement for ongoing advice.
FCA motor finance redress scheme announcement coming next Monday (30th March)
The FCA is set to publish the final details of its motor finance redress scheme shortly after markets close on Monday 30 March 2026, a critical moment for lenders after months of anticipation since the October 2025 consultation.
Modernising consumer redress: What FCA CP26/9 means for firms
FCA Consumer Finance Regulatory Priorities 2026: What it means for compliance leaders
The FCA has published its 2026 Consumer Finance Regulatory Priorities report, establishing core supervision expectations around credit accessibility, debt forbearance, and robust motor finance redress.
What the FCA’s Pensions Regulatory Priorities report means for pensions providers
The FCA's Pensions Regulatory Priorities report, the third in its 2026 series, sets out expectations on value for money, consumer support and modernising older products. It comes as the regulator highlights that nearly 15 million people are not saving enough…
What the FCA’s Regulatory Priorities report means for consumer investment firms
The FCA’s first Regulatory Priorities report sets out four strategic priorities for consumer investment firms, with fair value and product design singled out for close scrutiny.
Motor finance consumer redress scheme: Key expectations
Navigating financial crime compliance in a changing landscape
The FCA is set to become the single AML/CTF supervisor for professional services, and its 2025/26 work programme signals a move to continuous, data-led supervision of financial crime, meaning firms need to reassess their due diligence frameworks now.
Why traditional resourcing models are quietly undermining firms
Financial services firms built around static, peak-capacity staffing struggle to flex with today's cycles of regulatory scrutiny and remediation. A deliberate core-and-flexible resourcing model can protect compliance and control without carrying excess permanent cost.
FCA guidance on multiple representation in motor finance complaints
The FCA and SRA have issued joint instructions on managing multiple representatives representing a single motor finance complainant, requiring lenders to execute strict due diligence.
FCA brings Buy Now Pay Later under its regulation from July 2026
The FCA has confirmed that Buy Now Pay Later providers will fall under its full regulatory scope beginning in July 2026, requiring compliance with the Consumer Duty.
The FCA welcomes consolidation but raises the accountability bar
The FCA's multi-firm review of wealth management consolidation confirms there are no new rules, but demands stronger evidence of governance, oversight and control from acquiring firms. Centralised compliance frameworks are becoming a condition of successful, scalable growth.
Pure Protection: Regulatory expectations intensify in 2026 | TCC
The FCA's Interim Report on the Pure Protection Market Study signals a tightening regulatory environment around insurance commissions, panel models, and vulnerable consumer access.
Why no loss doesn’t mean no risk in today’s redress market
TCC explains why rising gilt yields producing ‘no loss’ redress outcomes don’t remove risk, and how firms are reprioritising DB transfer review and due diligence as a result.
Anti-money laundering (AML) under FCA: are accountancy firms ready for the new compliance era?
The FCA is set to take over anti-money laundering supervision of accountancy firms from 23 professional body supervisors, ending the era of broad compliance statements. TCC Group's CEO explains what a single regulator will expect to see.
Why growth without rigour is the biggest risk in advice consolidation
As consolidation in the advice sector matures, TCC argues that due diligence, integration and governance quality, not scale, now determine which consolidators succeed.
FCA’s Value for Money Framework Gathers Pace
Consultation Paper CP26/1 outlines plans for a standardized Value for Money framework for DC pension schemes, introducing standardized metrics and RAGG ratings.
Top ten regulatory priorities for financial services firms in 2026
TCC identifies ten regulatory priorities for 2026 under the FCA's 2025-2030 strategy, spanning Consumer Duty embedding, technology and AI oversight, motor finance redress and the new targeted support regime.
From Principles to Proof: Data-Led Compliance Evidencing in 2026
TCC Group's CEO Joe Norburn outlines why 'evidence readiness' must become a continuous operational state in 2026, driven by granular regulatory scrutiny and predictive RegTech.
Proving Consumer Duty compliance: 2026 predictions
FCA consolidation review: Lessons for wealth management
Financial wellbeing needs a tailored approach: The FCA’s vision for financial services
The FCA is urging financial firms to adopt tailored approaches to support financial wellbeing, encouraging consumers to move assets from cash to equities while delivering fair value.
Motor Finance Compensation Scheme: Consultation extended
Why ‘simple’ redress schemes require strategic planning
TCC Group's webinar with Momenta and Recordsure explains why the proposed motor finance redress scheme is more complex than it first appears, and how firms can combine technology, governance and human judgement to execute it at scale.
How to stay ahead of FCA demands and unlock AI’s potential for wealth management compliance
TCC held an in-person event in London in September 2025 on evidencing ongoing advice under the Consumer Duty and using AI to respond to FCA information requests.
Preparing the motor finance industry for the surge in complaints
Following the Supreme Court's ruling on discretionary commission arrangements, the FCA has confirmed it will consult on a motor finance compensation scheme, and firms need to prepare now for a significant rise in complaints.
FCA’s review flags gaps in support for vulnerable consumers
The FCA's review of firms' treatment of vulnerable customers found that existing guidance and the Consumer Duty remain appropriate, but that outcomes for vulnerable customers still lag behind, particularly in wealth and asset management. Three firms have already been fined…
Preparing for change: FCA’s review of protection product distribution and value
The FCA's Market Study is examining how pure protection products are distributed, with a particular focus on commission arrangements, product value and outcomes for vulnerable customers. TCC sets out a six-step strategy for firms to prepare proactively.
Wealth managers signal the FCA’s ongoing advice review presented better findings than they expected
A TCC poll of wealth managers found that many firms have only partial evidence of ongoing advice reviews, and the FCA is expected to revisit its findings later in the year with a focus on the evidence firms hold.
Understanding & implementing the FCA’s ongoing advice findings
The FCA has published findings from its review of ongoing advice services, confirming that around 2% of clients paying for a review did not receive one. Firms are expected to assess their own records against these findings and consider redress…
Benefit your business by enhancing customer data
Better customer data can help firms meet FCA information requests more easily while also supporting deeper client insight, particularly around ongoing advice reviews and retirement income advice.
A Consumer Duty recap: frequent obstacles to achieving good customer outcomes
TCC's regulatory experts take stock of the questions and obstacles firms commonly face across the Consumer Duty's four outcomes: consumer understanding, consumer support, products and services, and price and value.
Overview so far: the expected regulatory hot topics of 2025
Drawing on TCC's 2024 compliance forums, this overview sets out the FCA's current concerns spanning financial resilience, vulnerable customers, Consumer Duty fair value and senior management accountability.
Failing Consumer Duty with renewal barriers
Five key priorities for long-term Consumer Duty success
TCC summarizes the five discussion themes from our recent Consumer Duty forum, focusing on culture, Board challenge, proportionality, and evidence-led monitoring.
Delivering better customer outcomes under the Consumer Duty
A year on from firms first implementing their Consumer Duty plans, the FCA's Nisha Arora reminded firms that the Duty is not a ‘once and done’ exercise, with closed products due to come into scope from 31 July 2024.
Mortgage providers: Act now for a compliant future
Consumer Duty: Four key lessons from the FCA’s Fair Value
The FCA's thematic review of Fair Value assessments ahead of the Consumer Duty's 31 July launch found firms relying too heavily on assertions, benchmarking and average outcomes rather than firm evidence.
TCC Joins SME Climate Hub to Reduce Emissions
TCC has joined the SME Climate Hub and signed the SME Climate Commitment, pledging to halve its emissions by 2030 in line with the United Nations' Race to Zero campaign.
TCC Wins RegTech Innovation Award at FinTech Breakthrough
TCC and Recordsure have jointly won the RegTech Innovation award at the 2023 FinTech Breakthrough Awards, marking a third consecutive year of recognition for the group.
How to prepare for the Consumer Duty’s Price and Value outcome
With the Consumer Duty coming into force in July 2023, this article sets out how firms should approach value assessments under the price and value outcome, including benchmarking charges and evidencing fair value for different client segments.
Your four-point plan for successful British Steel pensions redress
TCC's Technical Director David Boyhan provides a strategic four-point plan for pension firms to navigate the strict 12-month BSPS redress timetable.
Webinar Recap: Understanding the Consumer Duty’s outcomes
TCC's webinar recap explains how the FCA will supervise the Consumer Duty through existing oversight activity rather than dedicated audits. It also sets out why firms should treat 31 July 2023 as a starting point rather than a deadline to…
Spotlight on the FCA’s Consumer Support Outcome 4
Following FCA comments on becoming a more outcome-based regulator, TCC Associate Director Neil Dethick considers the consumer support outcome to conclude an outcome-by-outcome insight series.
FCA Outcome 3: Consumer understanding
TCC's Associate Director Neil Dethick sets out three practical considerations for the Consumer Duty's consumer understanding outcome: clear communication, testing, and support for vulnerable customers.
FCA Outcome 2: Price and value
As part of a series spotlighting the Consumer Duty's four outcomes, TCC's Neil Dethick sets out three key points firms should consider for the price and value outcome ahead of the implementation deadline.
FCA Outcome 1: Products and services
In the first of a series spotlighting the Consumer Duty's four outcomes, TCC's Neil Dethick sets out three points firms should consider for the products and services outcome ahead of the 31 October 2022 deadline.
How to prepare for FCA’s new Consumer Duty
TCC Director Neil Dethick shares practical and preparatory steps, emphasizing board responsibility and working groups, for firms preparing their Consumer Duty Implementation Plans.
Women in Governance, Risk and Compliance: meet TCC and Recordsure’s Joanne Smith
Joanne Smith, founder of TCC Group and Recordsure, has been confirmed as a judge for the Women in GRC Awards 2022, recognising her three decades leading innovation in compliance and RegTech.
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