5 New Initiatives from the FCA in 2025

The FCA's 2025/26 Annual Work Programme introduces several completely new initiatives this year:

1. Remove administrative burdens

A new platform, My FCA was launched on 31 March 2025, aiming to simplify interactions with the FCA and provide a better user experience.

The introduction of a new capability within RegData, “Flexi Collections” will enable firms to more easily provide ad-hoc information to FCA.

Administrative elements under the SMCR will be removed with further details to follow from the PRA & FCA before the summer.

2. Adjusting FCA’s supervisory model

More case officers or supervisors will be allocated and dedicated to, for example firms in the Regulatory Sandbox.

Supervisors will focus their efforts more on participants with the most significant impact and influence within their markets.

Firms at higher risk of money laundering will be subject of more proactive supervision.

3. AI and Digital Innovation

Through its AI Lab FCA will support the adoption of AI.

FCA will be exploring new digital service standards including, electronic death verification for bereavement claims.

4. Open Finance Development

FCA will prioritise creating a regulatory framework for open finance, focusing initially on SME lending. This builds on the advancements achieved in open banking.

5. Consolidation of the Payment Systems Regulator (PSR)

The PSR's functions are being integrated into the FCA, streamlining regulatory oversight and supporting the National Payments Vision, including innovations like variable recurring payments.

Leaman Crellin has identified the key themes from FCAs 2025/26 Work Program which may also apply to your firm, you can read that article here.