The FCA has secured an additional 499-day prison sentence against convicted money launderer Richard Faithfull after he failed to fully satisfy a confiscation order linked to a £2.5 million laundering operation tied to overseas investment frauds. Faithfull, now 36, was originally sentenced in 2021 to 5 years and 10 months in prison following an FCA prosecution. Authorities said he played a role in a transnational organised crime network that laundered proceeds from at least se

The FCA has intensified its campaign against illegal finfluencers, leading a co-ordinated international week of action involving 17 regulators across major financial centres. The initiative, which began on 20 April 2026, targeted social media personalities and unauthorised firms using online platforms to promote financial products unlawfully and expose consumers to scams. In the UK, the FCA’s action included securing a guilty plea from Geordie Shore’s Aaron Chalmers for illeg

The Financial Conduct Authority (FCA) has escalated its enforcement stance on cryptoassets, launching its first coordinated crackdown on illegal peer to peer crypto trading operations in the UK. Announced on 22 April 2026, the action signals a more assertive regulatory approach to decentralised trading models that fall outside traditional supervisory frameworks. The operation, conducted alongside HM Revenue & Customs (HMRC) and the South West Regional Organised Crime Unit (SW

The FCA has launched a consultation on guidance for firms that may fall within the UK’s future cryptoasset regulatory regime, marking another significant step towards full crypto regulation from October 2027. The consultation follows confirmation by Parliament of the cryptoasset activities that will be brought within scope. The FCA is now seeking views on how it interprets regulated activities including issuing qualifying stablecoins, operating trading platforms, dealing and

The Financial Conduct Authority (FCA) has fined Dinosaur Merchant Bank Limited (DMBL) £338,000 for significant failures in its market abuse surveillance systems within its contracts for difference (CFD) business. The enforcement action underscores regulatory expectations that firms operating in high risk trading environments must maintain robust and effective monitoring frameworks. The failings arose following the introduction of a new order management system in June 2024, wh

The Financial Conduct Authority (FCA) has banned Kasim Garipoglu from working in UK financial services after concluding that he is not fit and proper because of a sustained lack of honesty and integrity. The decision marks another high-profile enforcement action as the regulator continues to prioritise financial crime, senior manager accountability and market integrity. According to the FCA, Garipoglu, who owned a firm offering online foreign exchange and contracts trading, r

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has warned that anti-money laundering supervision across professional services still lacks sufficiently strong enforcement to deter poor compliance. In its latest report, OPBAS found that Professional Body Supervisors (PBSs) overseeing legal and accountancy firms are more effective than at any point since the body was established in 2018. However, the regulator concluded that several supervisors contin

The Financial Conduct Authority (FCA) has fined two individuals a combined £108,731 for insider dealing linked to shares in Bidstack Group Plc, reinforcing its commitment to tackling market abuse and protecting market integrity. Dipesh Kerai has been fined £52,731 and Bhavesh Hirani £56,000 following enforcement action relating to unlawful trading in December 2021. At the time, Mr Hirani was interim Chief Financial Officer (CFO) of Bidstack, an advertising technology company

The Financial Conduct Authority (FCA) has launched a major forward-looking review to assess how advanced artificial intelligence is likely to reshape retail financial services, consumer behaviour and regulatory oversight over the coming decade. Known as the Mills Review, the initiative underscores the FCA’s intention to remain ahead of rapid technological change while maintaining its principles-based approach to regulation. Led by Sheldon Mills, the review builds on the FCA’s

The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) have issued a joint statement providing important regulatory clarity on open banking pricing models, specifically in relation to commercial Variable Recurring Payments (cVRPs). The statement confirms that, at this stage, the regulators will not prioritise a Competition Act 1998. Investigation into the centralised access fee pricing model being developed by the UK Payments Initiative for cVRPs. Comme

The Upper Tribunal has upheld the Financial Conduct Authority’s decision to ban Darren Antony Reynolds from working in financial services and to fine him £2,037,892, marking one of the most serious enforcement outcomes arising from the British Steel Pension Scheme cases. The ruling, first published on 19 January 2026, represents a decisive endorsement of the FCA’s findings on dishonesty, lack of integrity and deliberate misconduct in pension transfer advice. The Tribunal agre

The Financial Conduct Authority (FCA) has fined oil and gas consultant Russel Gerrity £309,843 for insider dealing after he used confidential drilling information to generate personal trading profits of £128,765. The enforcement action highlights the FCA’s continued focus on market abuse and the critical role of surveillance and industry reporting in detecting misconduct. Between October 2018 and January 2022, Mr Gerrity exploited inside information obtained through his consu