{"id":530157,"date":"2026-04-14T11:09:13","date_gmt":"2026-04-14T11:09:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/530157\/"},"modified":"2026-04-14T11:09:13","modified_gmt":"2026-04-14T11:09:13","slug":"fca-perimeter-report-2026-key-takeaways-financial-services","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/530157\/","title":{"rendered":"FCA Perimeter Report 2026: Key Takeaways – Financial Services"},"content":{"rendered":"

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Lewis Silkin<\/p>\n


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\n The FCA has published its latest Perimeter Report outlining the areas where it says regulation needs to evolve to protect consumers, support innovation and maintain market integrity. \n <\/p>\n


\n United Kingdom
\n Finance and Banking \n <\/p>\n


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The FCA has published its latest\u00a0Perimeter Report<\/a>\u00a0outlining the areas where it says regulation needs to evolve to protect consumers, support innovation and maintain market integrity. The perimeter defines what the FCA does and doesn’t regulate, and this year’s report focuses heavily on the impact of technological change and AI-driven business models and gaps that expose consumers or markets to harm. The report makes the following headline points:<\/p>\n

New and emerging regulatory areas are expanding the perimeter<\/p>\n

The FCA highlights progress on several fronts:<\/p>\n


\nBNPL (Deferred Payment Credit) will soon fall under FCA oversight.
\nCryptoassets: Seven new regulated activities are now in scope under the Treasury’s February 2026 Crypto RAO, with further legislative reform needed around crypto resolution.
\nTargeted Support regime comes into force in April, allowing firms to give “group\u2011based” guidance instead of individual advice.
\nESG ratings providers will fall within the FCA’s remit from June 2028. <\/p>\n

Key areas for reform<\/p>\n

The FCA identifies key areas where legislative change is needed, including:<\/p>\n


\nCritical Third Parties (CTPs): Cloud and tech providers underpinning multiple firms create systemic risks; designation of CTPs is expected within the next 12 months.
\nSM&CR extension: Current exclusions (e.g. credit rating agencies, Recognised Investment Exchanges, payments and e\u2011money firms) undermine accountability. The FCA supports bringing them in scope.
\nOverseas Persons Exclusion: Limited visibility over overseas firms serving UK clients remains a concern; enhanced information powers are requested.
\nPayments framework reform: Legislation needs modernising for tokenised payments, stablecoins and AI\u2011driven “agentic” payments. <\/p>\n

Digital harm and AI\u2011driven risks are rising<\/p>\n

The FCA is increasingly concerned about AI\u2011generated content, influencer promotions and fraud exploiting online platforms:<\/p>\n


\nThe Online Safety Act is a key tool, but loopholes, particularly around user\u2011generated, influencer\u2011sponsored adverts, are impeding enforcement.
\nThe FCA calls for stronger obligations on tech platforms and improved cross\u2011regulator information sharing. <\/p>\n

Consumer protection boundaries need clarifying<\/p>\n

Misunderstandings around regulated versus unregulated activities create consumer harm:<\/p>\n


\nNew types of occupational pension schemes may challenge existing legislative definitions.
\nDespite stakeholder pressure, the FCA cannot mandate provision of wider banking services beyond access to cash, reflecting statutory limits. <\/p>\n

The FCA will press for reform during 2026<\/p>\n

In January 2026, the FCA wrote to the Treasury Select Committee setting out priority areas for legislative change. It commits to ongoing analysis and recommendations aimed at making sure that the perimeter keeps pace with market developments and supports a dynamic, competitive financial system.<\/p>\n

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.<\/p>\n

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