Sharpened FCA structure will root out poor practice more efficiently - Bovill

Carmen Reichman
clock

Small firms engaging in poor practice stand a better chance of getting caught by the Financial Conduct Authority (FCA) under the new regulatory framework as the regulator has shifted its focus on its thematic work, according to a consultancy.

Bovill wealth management consultant Neil Walkling (pictured) suggested the proposed FCA structural changes, which will strip out routine supervisory visits for small firms, are more targeted at detecting bad practice as resources have been diverted to more thematic reviews, which will include more firms. The FCA announced on 8 December it plans to merge its supervision and authorisation departments before splitting the new entity in small firm and large firm divisions. It will then remove the distinction between C3 and C4 firms - the categories for the smallest firms it supervises - a...

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

DB transfer adviser hit with provisional FCA ban and £742,700 fine

DB transfer adviser hit with provisional FCA ban and £742,700 fine

Daniel Thomas advised 53 clients, including four British Steel scheme members

Sophia Panayi
clock 03 September 2026 • 2 min read
Proving good customer outcomes still a challenge for financial planners

Proving good customer outcomes still a challenge for financial planners

Firms face practical challenges in Consumer Duty board reporting

Sophia Panayi
clock 03 September 2026 • 2 min read
'Watershed moment' as FCA's non-financial misconduct rules come into force

'Watershed moment' as FCA's non-financial misconduct rules come into force

Enforcement ‘not a question of if, but when’

Michael Nelson
clock 02 September 2026 • 2 min read