Eleanor Vance - The Perimeter Report

Governance

FCA flags governance and risk failures at high-growth firms across asset management, wealth and payments

Worth reviewing. The FCA has published good and poor practice findings from its Early and High Growth Oversight pilot: forward-looking supervisory signalling that scaling firms cannot ignore.

Enforcement

Upper Tribunal confirms lifetime bans for pension transfer pair, cuts fines after finding 18% suitability failure rate

The Tribunal confirmed dishonesty findings against both individuals and upheld the lifetime bans, but ruled the FCA had overcounted unsuitable advice and cut the fines accordingly.

Policy

PS26/15: FCA finalises transaction reporting overhaul, 13 fewer fields, FX derivatives out, new rules live April 2028

The FCA has finalised a new UK transaction reporting regime, cutting fields from 65 to 52 and removing FX derivatives from scope. If you submit transaction reports, you need to start planning now.

Policy

FCA consults on equity market transparency and SI regime changes (CP26/30). Responses close 16 October 2026.

CP26/30 proposes targeted changes to trade reporting, the SI regime, and market operation during outages. Trading venues, investment firms, and SIs should assess scope and respond by 16 October 2026.

Enforcement

Blue Motor Finance enters administration as redress liabilities overwhelm the business

A motor finance lender has collapsed because it could not meet compensation liabilities. Customers owed redress are unlikely to be paid in full, and there is no FSCS safety net.

Enforcement

FCA censures EFG for minibond promotions that hid commission fees from investors

A public censure, an insolvent firm, and a clear message: if you approve financial promotions, you own what they say, and what they leave out.

Conduct

FCA Consumer Duty outcomes monitoring review: where firms are falling short and what to fix

The FCA has published good and poor practice findings on Consumer Duty outcomes monitoring. Every retail-facing firm should read this: the regulator sets out what it expects to see and where firms are commonly falling short.

Enforcement

FCA moves to ban father and son over insurance broker fraud and client money misuse — findings remain provisional pending Upper Tribunal

Decision Notices issued against Alec and Robert Finch follow a High Court fraud finding, but both have referred to the Upper Tribunal, so the findings remain provisional.

Financial crime

FCA sets out AML control gaps at asset managers and alternatives firms after reviewing 242 firms

The FCA has published good and poor practice findings from a review of 242 firms, with named gaps that double as a self-assessment checklist for compliance leads at asset managers and alternatives firms.

Enforcement

PRA fines HDI Global SE £4,165,000 for three years of inaccurate FSCS data submissions

The PRA has fined HDI Global SE £4.2m for three years of inaccurate FSCS data returns — a reminder that regulatory reporting accuracy is a safety and soundness obligation, not a back-office formality.

Enforcement

FCA halts Anthony Jones (UK) Limited: policyholders urged to check cover is still in place

The FCA has required insurance broker Anthony Jones (UK) Limited to stop all regulated activity from 9 July 2026. If you bought cover through them, contact your insurer now.

Financial crime

Economic Crime Levy annual report published: HM Treasury sets out levy collection and spend for 2024-25

HM Treasury has published its Economic Crime Levy annual report for 2024-25. The full collection and spend figures are in the PDF; your obligations and levy band are unchanged.