FCA calls for examples of retrospective regulation

clock

The Financial Conduct Authority (FCA) is seeking examples of occasions the industry suspects it may have applied its rules after the fact with the benefit of hindsight.

It wants to know whether it or its predecessor the Financial Services Authority (FSA) may have applied a more demanding standard or interpretation of its rules after having consulted on, and agreed, them. The FCA has previously expressed concern about acting retrospectively and said it had work to do to improve certainty for regulated firms. It recently published the outcomes of its work on a perceived ‘expectations gap' between regulators and industry. This considered how any differences in understanding might affect the quality of products and services consumers receive, or inhib...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Succession Alliance to tackle 'completely unregulated' space this year

Succession Alliance to tackle 'completely unregulated' space this year

Wants to create a ‘minimum set of standards’

Sophia Panayi
clock 27 May 2026 • 4 min read
Clearer simplified advice guidance needed to 'drive genuine progress'

Clearer simplified advice guidance needed to 'drive genuine progress'

Responses to FCA consultation were due by last Friday

Sophia Panayi
clock 27 May 2026 • 5 min read
FCA calls on firms to plan for frontier AI cyber risks

FCA calls on firms to plan for frontier AI cyber risks

Joint statement released with BoE and Treasury

Sophia Panayi
clock 20 May 2026 • 2 min read