Committee publication · Correspondence · 14 July 2026
Correspondence from FCA on Annual Report and Accounts, dated 9 July 2026
From: Treasury Committee
Summary
The FCA Chief Executive writes to the Treasury Committee Chair sharing the FCA's Annual Report and Accounts for 2025/26, highlighting progress against four strategic priorities: consumer protection (£200m insurance compensation, new Buy Now Pay Later rules), financial crime (17 convictions, illegal finfluencer crackdown), growth support (50 pro-growth measures, Scale-Up Unit launch), and regulatory efficiency (90% data return decommissioning, £16m annual savings). The FCA estimates £5.6bn in annual benefits to the economy—£7.2 return per £1 spent.
Key findings
- FCA delivered £200 million in insurance compensation and introduced new Buy Now Pay Later rules to protect consumers
- Secured 17 criminal convictions and led an international crackdown on illegal finfluencer promotions as part of financial crime strategy
- Implemented nearly 50 pro-growth measures, including establishing a joint Scale-Up Unit with PRA and providing early approval certainty to 380+ firms
- Reduced regulatory burden by decommissioning data returns for over 90% of firms, saving approximately £16 million annually
- Quantifies annual economic benefit at £5.6 billion, representing £7.2 return for every £1 spent running the regulator
Tone
SupportiveTopics
Key actors
Nikhil Rathi, Dame Meg Hillier, FCA, PRA
Notable line
“£5.6 billion in benefits to consumers, firms and the wider economy — equivalent to £7.2 for every £1 spent running the FCA.”
Key Quotes
“The report sets out the progress we've made across our four strategic priorities: helping consumers, fighting financial crime, supporting growth and becoming a smarter regulator.”
“We also continued to reduce unnecessary regulatory burden, helping us to be a smarter regulator, including through decommissioning data returns for over 90% of firms and saving approximately £16 million annually.”
Source · parliament.uk record ↗