Compliance Matters: Week ending 13th March 2026

Here is a digest of issues that have come across my desk this week.  Where relevant, I have provided high-level summaries with hyperlinks to documents that give further detail. 

• Stepping back, staying safe: a joined-up approach to growth

• Consumer understanding: good practice and areas for improvement

Stepping back, staying safe: a joined-up approach to growth

Another week, another FCA speech on the subject of growth.  This one from David Geale, executive director, payments and digital finance, and PSR managing director at the MoneyLIVE Summit 2026, London.

The key points of the speech were:

• While the consolidation of the PSR and FCA will simplify how the regulator engages externally, the PSR’s work remains important to the FCA’s mission.

• The FCA supports growth and innovation, but never at the expense of consumer protection.

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  The FCA is simplifying rules and stepping back where possible, but always with guardrails in place.

The Government announced its intention to consolidate the PSR into the FCA about a year ago.  It was a decision welcomed by both regulators.  Their work has always been complementary.  As an economic regulator, the PSR is focused on getting the foundations right – the payment systems and infrastructure that enable the ecosystem to operate.  As the conduct authority, the FCA focuses on what sits on top – the delivery of the services and products consumers rely on.

The speech highlights how home ownership is slipping out of reach of first-time buyers and how the Consumer Duty serves to help rebalance risk in a proportionate way.  In other words, working to deliver good outcomes for our clients allows us to take a proportionate view of the risk our advice poses to the organisation.

Consumer understanding: good practice and areas for improvement

Still on the subject of the Consumer Duty, the FCA has published a review of the consumer understanding outcome. 

Strengthening consumer understanding also supports the FCA’s strategic priority of helping consumers navigate their financial lives.  This aims to make sure consumers can understand and engage with information we provide to them.  The FCA encourages firms to innovate the ways in which they communicate with and support their clients.

The document has examples of good and poor practice, and specific sections addressing small firms.  Once I have had the opportunity to fully review the examples I will look to discuss where we can improve our communication with our clients.