11 Mar 2026
The latest regulation broken down into easy to digest segments with relevant links. All you need to know to stay compliant. News, FCA updates, policies coming into force, the latest consultations, plus so much more... Head over to our homepage to sign up for our newsletters and get them delivered straight to your inbox every month.
GENERAL
FCA launches new webpage - Regulatory Priorities reports
The FCA has launched a new webpage introducing annual “Regulatory Priorities” reports, which will replace its previous portfolio letters. These reports will outline key priorities for each sector and the FCA’s planned regulatory work for the coming year, helping firms understand the areas where the FCA expects focus and improvement.
Firms will need to assess which priorities apply to their business models and consider the relevant recommendations.
The first report covers the insurance sector, with additional reports for consumer investments, pensions, retail banking, mortgages, consumer finance, wholesale buy-side, wholesale markets and payments scheduled for publication in March 2026.
HM Treasury Publishes Consultation - Appointed Representatives (AR) Regime
HM Treasury has published a consultation on proposed reforms to the appointed representatives (AR) regime, aimed at addressing concerns about insufficient oversight of ARs and potential risks to consumers, while retaining the regime’s broad scope.
Key proposals include introducing a new regulatory gateway for authorised firms wishing to act as principals, allowing the FCA to assess their suitability and grant, vary or withdraw permission to act in this role. Existing principal firms would automatically receive permission but remain subject to FCA review.
The consultation also proposes extending the Financial Ombudsman Service (FOS) compulsory jurisdiction, ensuring consumers dealing with either authorised firms or ARs have consistent access to the FOS. In cases where a principal cannot be held responsible for an AR’s actions, the FOS would be able to consider complaints directly against the AR and require redress.
Additional proposals include moving detailed requirements for principal–AR contractual arrangements and Financial Services Register information into FCA rules, and bringing ARs within scope of the Senior Managers & Certification Regime (SM&CR).
The consultation closes on 9 April 2026.
HM Treasury - Consultation PDF
CONSUMER CREDIT
FCA Publish Policy Statement PS26/1 - Deferred Payment Credit (Buy Now Pay Later)
The FCA has published Policy Statement PS26/1, setting out its final rules for regulating deferred payment credit (DPC), commonly known as buy now pay later (BNPL). The rules largely confirm the approach consulted on in July 2025 (CP25/23).
From 15 July 2026, lenders offering DPC agreements to finance purchases from merchants will fall under FCA regulation. However, merchants offering their own DPC agreements directly and the broking of DPC agreements will remain outside the regime. Firms can access a temporary permissions regime, with registration open between 15 May and 1 July 2026.
The rules require DPC lenders to provide clear information before and during agreements, apply existing creditworthiness assessment requirements, bring DPC firms within the Senior Managers and Certification Regime (SM&CR), and extend the Financial Ombudsman Service’s compulsory jurisdiction to cover DPC activities.
INSURANCE
FCA Publishes Speech - Driving Change in the Insurance Sector
The FCA has published a speech by Deputy Chief Executive Sarah Pritchard on promoting innovation, growth and trust in the insurance sector. She highlighted the positive impact of the Consumer Duty, noting that the FCA has used fair value rules to improve consumer outcomes rather than introducing new regulation.
The FCA will continue work on claims handling, including expanding its review of firms’ oversight of outsourced claims processes and Managing General Agents, while also assessing products, services and the treatment of vulnerable consumers for signs of poor outcomes.
In wholesale markets, the FCA is consulting on simplifying data return requirements and considering the possible disapplication of the Consumer Duty for overseas consumers, as part of efforts to clarify expectations for the duty’s application in wholesale markets.
FCA Speech - Insurance in the round: Innovation, growth and trust
CRYPTOASSETS
The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026
The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102), published on 4 February 2026, introduce the UK’s regulatory framework for cryptoassets by amending the Regulated Activities Order 2001 (RAO).
The Regulations define key categories of regulated cryptoassets, including qualifying cryptoassets, qualifying stablecoins (a subset of qualifying cryptoassets), and specified investment cryptoassets. They also classify several cryptoasset-related activities as regulated activities, requiring firms conducting them by way of business to be authorised. These activities include issuing qualifying stablecoins, safeguarding cryptoassets, dealing in qualifying cryptoassets as principal or agent, and arranging cryptoasset transactions.
In addition, the Regulations introduce new designated activities under Part 5A of FSMA, covering the public offering of relevant qualifying cryptoassets and the admission of cryptoassets to trading on regulated platforms. They also establish a market abuse framework for relevant qualifying cryptoassets, with the FCA empowered to define legitimate cryptoasset market practices.
The new regulatory regime will come into force on 25 October 2027.