This article examines the latest trends in U.K. regulatory enforcement and supervisory action and highlights the key takeaways for firms in 2025 and beyond.
Over the past 18 months, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have undergone significant shifts in their enforcement strategies. The total number of enforcement cases initiated by the FCA has dropped to levels not seen since 2016, with several long-running cases either being discontinued or expedited to public resolution. However, this reduction in enforcement activity has been more than compensated for by both regulators taking a significantly more assertive approach to supervisory action, which often yields swifter and, in some instances, more impactful results for firms. The frequency of assertive supervisory action, such as voluntary and own-initiative requirements, attestations by Senior Managers and skilled person reviews, has increased considerably.
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