David Morrey and Ben Farmer unpack the FCA’s new sector priority reports and what they really signal for financial services firms in 2026. From insurance and consumer investments to payments, appointed representatives and motor finance redress, we explore how the regulator is shifting away from fragmented Dear CEO letters towards a more consolidated, outcomes‑focused approach — and what that means in practice for boards and senior leaders.

They also examine where regulatory expectations are tightening, where simplification and growth are being actively encouraged, and how themes such as Consumer Duty, AI adoption, financial crime, disclosures and market resilience are converging across sectors. The discussion also covers upcoming consultations, enforcement trends — including the crackdown on unauthorised financial promotions — and why firms may need to rethink how they respond to regulatory change, rather than defaulting to business‑as‑usual compliance.

This month, David Morrey and Ben Farmer unpack another busy period in financial services regulation. They explore the FCA’s accelerating use of AI — from live testing to automated case queries — and what this rapid adoption means for firms navigating both innovation and risk.

The conversation also covers the regulators’ new scale‑up unit, the latest findings from the pure protection and premium finance market studies, and what these signals say about Consumer Duty in practice.

We then turn to crypto and stablecoins, examining the FCA and PRA’s latest consultations, the proposed perimeter for custodians and distributors, and the Consumer Duty expectations shaping this fast‑moving market.

Finally, they down the FCA’s long‑term mortgage rules roadmap, the newly finalised non-financial misconduct guidance, and the early use of in‑flight enforcement naming powers.

In this end-of-year episode, David Morrey and Ben Farmer take stock of the evolving regulatory landscape in financial services, exploring the impact of the UK’s “growthy regulator” agenda over the past twelve months.

Key themes include:

• Growth vs Deregulation: The hosts discuss whether regulatory changes have truly promoted growth or simply resulted in procedural tweaks. While some requirements have been simplified, fundamental deregulation remains limited, often requiring statutory changes
• Regulatory Output and Compliance: There’s been a shift from new rules to more thematic reviews and “good and poor practice” articles, which now carry significant weight for compliance teams. Firms are increasingly expected to monitor these outputs and assess their impact
• Supervisory Activity: Although the number of formal Skilled Person reviews has declined, supervisory visits, data requests, and regulatory interactions remain robust.
• Consumer Duty and Redress: The podcast highlights the ongoing importance of Consumer Duty as a tool for achieving regulatory objectives without introducing new rules. Major consumer redress issues, such as motor finance, continue to dominate headlines, while firm-specific redress remains active
• Encouraging Productive Investment: A notable trend is the regulatory push to encourage individuals to move savings into productive investments, with new consultations on targeted support aiming to make this process easier for both firms and consumers
• Looking Ahead: The hosts preview what might be expected in 2026, promising continued updates and recommending the Grant Thornton regulatory handbook for those seeking further guidance

Financial Services UK | Regulatory Handbook 2025 An essential guide to the regulatory landscape for financial services Download now

Join hosts David Morrey and Ben Farmer as they break down the latest regulatory developments and what they mean for firms and professionals navigating compliance, risk and operational change.

Explore new safeguarding rules for payment and e-money firms, the impact of wealth management consolidation, and the FCA’s growing role in ESG and anti-money laundering oversight.

In this episode:

FCA’s new safeguarding regime

The introduction of CASS 15 and what the new client money and asset rules mean for payment services and e-money institutions, including timelines and compliance challenges.

Wealth management sector consolidation

Key findings from the FCA’s Thematic Review, with a focus on conduct, financial resilience, and the impact of leveraged buyouts on regulated businesses.

Contracts for Difference (CFD) sector scrutiny

Regulatory warnings about client categorisation, 'finfluencers', and the treatment of vulnerable customers, plus a look at recent thematic reviews on price and value outcomes.

Expanding FCA responsibilities

The regulator’s new powers over ESG ratings providers and proposed changes to the UK’s anti-money laundering supervision framework – and what this means for professional services.

PRA policy updates

The increase in the depositor protection limit, reforms to remuneration rules for banks and investment firms, and the implications for risk and reward in the sector.

Motor finance redress consultation

An update on the ongoing consultation, industry feedback, and what to expect as the FCA prepares to publish final rules.

Financial Services UK | Regulatory Handbook 2025 An essential guide to the regulatory landscape for financial services Download now

In this episode, David Morrey and Ben Farmer dive into latest developments on motor finance compensation claims, including the Financial Conduct Authority’s (FCA):

• new awareness campaign
• regulatory actions against misleading advertising by claims management companies (CMCs)
• details of the proposed redress scheme for motor finance agreements dating back to 2007.

Listen to unpack the scheme’s opt-in process, eligibility criteria, potential legal challenges, and the broader implications for firms and consumers.

David and Ben also touch on the FCA's consultation on fund tokenisation, the move to T+1 settlement for investment instruments, and recent survey findings on industry satisfaction.

The episode wraps with updates on regulatory reporting changes and a look ahead to what’s next in the world of financial services regulation.

Discover more on the FCA consultation and industry implications following motor finance redress scheme, Motor Finance Redress Scheme: FCA Consultation and Industry Implications | Grant Thornton

In this episode, Alex Ellerton, Head of Financial Services, and Sarah Bell, Partner, are joined by The Rt Hon. Lord Mayor of London, Alastair King, for a wide-ranging discussion on how financial services can drive the UK's economic growth. They unpack the opportunities and challenges facing the sector—from regulatory shifts to innovation and investment.

The conversation covers:

• economic outlook
• Leeds Reforms
• 'regulate for growth'
• healthy tensions and collaboration
• the Autumn Budget
• international investment
• innovation in financial services.

Listen for analysis of everything that's happening across the industry.

For more insight and guidance, get in touch with Alex Ellerton or Sarah Bell.

In this episode, David Morrey and Ben Farmer unpack the latest regulatory developments in UK financial services.

They discuss the FCA's campaign on motor finance compensation, the recent insurance sector redress payments, and a major consumer rights super-complaint.

The conversation also explores new consultations from the regulator, including cryptoassets and payments, and its push for growth and productivity.

Innovation is shaping the future of the payments industry, and the Financial Conduct Authority (FCA) is keen to ensure it heads in the right direction.

In this episode, host Paul Staples is joined by Paul Olukoya, Managing Director, Alison Kopra, Director, and guest Robert Courtneidge, Policy Advisor at The Payments Association.

They discuss the latest trends in digital money, the regulatory challenges of stablecoins, the effectiveness of authorised push payment (APP) fraud reimbursement, and safeguarding customer funds.