UK Financial Services See Significant Developments in July

The UK's financial services sector has seen significant developments in July 2026, with the FCA publishing numerous updates and consultations.

The FCA Handbook was updated on July 31st to reflect changes made by the FCA board on June 25th and July 30th. The regulator also published its findings from a review of firms' approaches to monitoring outcomes under the Consumer Duty, highlighting areas for improvement.

In the realm of asset management, the FCA has launched consultations on proposed reforms to the remuneration regime for in-scope firms and a new regulatory reporting framework for fund data. The Bank of England has also outlined plans to work with the PRA on a package of reforms to UK bank capital requirements.

The European Union has taken steps to strengthen its banking sector's competitiveness, while EIOPA has published guidelines for implementing the Insurance Recovery and Resolution Directive. Additionally, the FCA has issued a consultation paper on supporting equity market transparency.