In March 2025, the Financial Conduct Authority (FCA) published its 2025 – 2030 strategy, which set out its ongoing priorities for the following five years (Strategy).
The Strategy outlines the FCA’s intended future direction and confirms that its main priorities over the coming years are to “support growth, fight crime, help consumers and be a smarter regulator”.
2026 is expected be a pivotal year for the FCA as their strategic ambitions will start translating into practical results for consumers, firms and markets.
Our Financial Service Lawyers provide a brief overview of the Strategy and outline how the FCA proposes to implement its strategies for the remainder of the year.
1. Embedding the Consumer Duty
Similarly to 2025, the consumer duty (the Duty) will remain a core supervisory and enforcement priority for the FCA throughout 2026.
The Duty was introduced under the FCA’s previous strategy, and the Duty continues to be further embedded and developed by the FCA.
The FCA’s approach to the Duty is shaped by its priority to “deepen trust, rebalance risk, support growth and improve lives”.
In 2026, the FCA continue to be committed to sharing sector-specific examples of ‘good’ and ‘poor’ practice to assist firms with embedding the Duty across different sectors.
They have confirmed that they will share their views on covering products and services, consumer understanding and outcomes monitoring.
Firms can therefore expect to comply with higher Duty standards and demonstrate their commitment to the Duty.
Some specific FCA priorities for 2026 include:
- Reviewing advertising consumer credit rules – the FCA plans to review the financial promotions regime, focusing on CONC 3.5 in particular, to identify possible ways of reducing the level of prescription currently involved and to be more ‘outcomes-focused’.
- Produce guides for smaller firms – the FCA will be piloting a guide to assist smaller firms with outcomes-focused regulation (thereby allowing firms to access all requirements in one place).
- Review the application of the Duty to non-UK customers.
2. Supporting financial services growth
Similar to last year, the FCA want to ensure that their annual work programme contributes towards sustained economic growth, which they aim to achieve by way of:
- increased competitiveness; and
- a more productive and innovative financial services industry.
The FCA have outlined in their Strategy that they want “financial services to seize future potential” and that “doing so benefits the country through growth and innovation” and they have further outlined that growth is a ‘cornerstone’ of their Strategy.
Quickly evolving technological developments mean that the FCA have shifted their focus from prescriptive rules to outcomes.
Firms are actively being supported by the FCA to digitise (for example, the FCA confirmed in a letter to the Prime Minister, Chancellor and Secretary of State that, as of December 2025, it was testing AI use cases with 31 different firms).
The FCA have confirmed that they will achieve economic growth, for example, by:
- unlocking capital investment and liquidity;
- accelerating digital innovation to improve productivity;
- making it simpler for financial services firms to start-up and grow (thereby delivery more innovative and productive financial services);
- working with firms to develop knowledge and support the use of AI solutions to spearhead growth and competitiveness; and
- improving exports and inwards investment.
3. Financial crime
Tackling financial crime was prioritised in the FCA’s previous strategy, and it remains a key priority for the FCA in 2026. More individuals have been charged with criminal offences in respect of financial crime in the last two years than ever before, and the FCA is using technology to help identify unusual trading and financial scams.
The Strategy outlines that the FCA are continuing to monitor their remit and will continue to support the firms it regulates in preventing criminals from misusing financial services by harnessing and developing new technology.
The FCA is also committed to raising awareness of investment and APP fraud by increasing public understanding of potential scams.
As a result, firms regulated by the FCA can likely expect more scrutiny of their anti-money laundering policies and systems in 2026 as compliance expectations continue to grow.
4. Improved and smarter regulation
The FCA is committed to being an overall “smarter regulator” by adopting new processes and embracing new technologies to be more efficient and effective.
The FCA aim to streamline their rules and reduce complexity for firms by:
- providing firms with more flexibility (by allowing firms to make the most of new technologies and innovation);
- providing firms with more certainty (by providing further clarity on the FCA’s overall priorities); and
- improving efficiencies (by cutting the time, costs and complexity involved in satisfying the FCA’s requirements). The FCA have also published a ‘Programme of Action’ to simply their requirements for firms in respect of the Duty.
Simplified authorisation processes will also be adopted by the FCA, so it is quicker and simpler to apply to the FCA, and the information provided will be of higher quality, thereby reducing follow-up requests.
Contact Our Financial Services Team
As the FCA sharpens its strategic focus for 2026, our Financial Services Lawyers are here to assist firms turn smarter regulation, increased Duty expectations and heightened financial crime expectations into compliant and commercially strong outcomes.
0161 941 4000
More Financial Services News
Chris Moss, the Real Lawyer Behind Bank of Dave, Reviews the New Stage Musical
New musical ‘ Bank of Dave ’ has officially hit the stage, bringing an extraordinary true story from screen to spotlight. Based on the hit Netflix film of the same name, the musical tells the inspiring story of entrepreneur Dave Fishwick and the creation of Burnley Savings and Loans, a bold challenge to the traditional banking system. The...
Read News
Cryptoassets and FCA-Regulated Firms: Managing Risk, Compliance and Opportunity
Independent financial advisers, investment firms, brokers, lenders and other regulated businesses are increasingly encountering cryptoassets whether through client portfolios, referral arrangements, funding structures or disputes involving digital assets. While interest in cryptoassets continues to develop, uncertainty around regulation...
Read Blog
The FCA’s Four Areas of Focus For 2026
In March 2025, the Financial Conduct Authority (FCA) published its 2025 – 2030 strategy, which set out its ongoing priorities for the following five years (Strategy). The Strategy outlines the FCA’s intended future direction and confirms that its main priorities over the coming years are to “support growth, fight crime, help consumers and be a...
Read Blog
Financial Services Essentials: Regulated Activities and Promotions Rules
Our recent 45-minute webinar brought together legal and compliance professionals to explore some of the most important legal and regulatory issues in UK financial services. Hosted by our team of expert financial service lawyers , the session provided practical, plain-English guidance on common regulated activities and the financial promotions...
Watch Webinar
Meet Chris Moss - The Real Lawyer Behind Bank of Dave
Netflix's Bank of Dave captured audiences with its feel-good story based on real events, but who was the real lawyer behind the scenes? Discover the true story behind Netflix’s Bank of Dave in our exclusive Q&A with Chris Moss, the real-life lawyer who helped Dave Fishwick turn his bold vision for community banking into reality.
Read News
Kiera Goodwin
Solicitor
Kiera is a Solicitor in the Corporate team at Myerson and a member of the Financial Services and Manufacturing teams. Kiera has experience in a variety of corporate matters, including employee ownership trusts, share sales, share buybacks, employee share option schemes, company reorganisations, and other general corporate matters.
About Kiera Goodwin