FCA News & Press Releases

FCA bans Kasim Garipoglu from UK financial services

The FCA has banned Kasim Garipoglu from working in UK financial services due to a lack of honesty and integrity. Garipoglu demonstrated a disregard for regulatory requirements, undermined AML controls, and provided false information to regulators.

Concept Capital Group placed into administration

The UK's High Court has placed Concept Capital Group (CCG) into administration on March 9, 2026, following FCA proceedings over an alleged unauthorised investment scheme. CCG collected approximately £23m from investors. The FCA's proceedings against other defendants will continue.

FCA: Second Charge Mortgage Firms Need Higher Standards

The FCA has issued a notice to second charge mortgage firms highlighting weaknesses in advice, affordability assessments, and fee transparency. The regulator is calling for firms to raise standards to protect consumers, particularly those consolidating debt, and will continue to monitor the market.

FCA Imposes Restrictions on Sendsii Ltd

The FCA has imposed restrictions on Sendsii Ltd, preventing it from carrying out any regulated activity. This action follows the suspension of the firm's registration by HMRC. Sendsii Ltd is required to return all customer funds.

FCA Enforcement: Man jailed for illegal sale-rent-back scheme

The FCA has announced that Rajinder Gill has been sentenced to two and a half years in prison for running an illegal sale-and-rent-back scheme without authorization and illegally providing credit. His accomplices also received sentences. The scheme targeted vulnerable homeowners, resulting in significant financial losses and evictions.

FCA Speech on Payments Regulation and Consolidation

David Geale, FCA executive director, delivered a speech at the MoneyLIVE Summit on March 10, 2026, discussing the consolidation of the Payment Systems Regulator (PSR) into the FCA. The speech emphasized a joined-up approach to growth, innovation, and consumer protection, aiming to simplify engagement for firms.

FCA warns customers of unsuitable advice from HDH Investment Services

The FCA has warned customers of HDH Investment Services Limited that the firm may have provided unsuitable financial advice. Restrictions were placed on HDH from January 20, 2026, preventing it from conducting regulated activities. Customers who believe they received unsuitable advice are advised to complain and seek advice from another authorised firm.

FCA Announces Senior Leadership Appointments

The Financial Conduct Authority (FCA) has announced two senior leadership appointments: Chris Knight as Director of Insurance and David Lymburn as interim Deputy Managing Director of the Payment Systems Regulator (PSR). These appointments aim to strengthen the FCA's capabilities and support its strategic priorities.

FCA fines John Wood Group £12.99M for misleading statements

The FCA has fined John Wood Group PLC £12,993,700 for publishing inaccurate information in its financial results for 2022, 2023, and the first half of 2024. The company failed to maintain adequate systems and controls, leading to misleading statements that impacted its share price.

Motor Finance Compensation Scheme Implementation Period

The FCA has announced that a proposed motor finance compensation scheme will include an implementation period of 3 to 5 months. This aims to streamline the process for consumers to receive compensation and for firms to manage claims, with millions expected to receive payouts in 2026.