The FCA has added Finsbury Markets to its Warning List, confirming the firm is not authorized to provide or promote financial services in the UK. Compliance teams should treat this as a consumer protection and financial crime alert, ensuring no business relationships, referrals, or payment flows connect to this entity.
The FCA- and PRA-sponsored Climate Financial Risk Forum released six new publications in October 2025 covering adaptation finance, physical risk vendor benchmarking, quantitative scenario analysis, and nature-related risk. While non-binding, these materials signal regulatory expectations for how firms should mature their climate risk management practices and will likely inform future supervisory dialogue.
The FCA's September 2026 list of non-legal corrections and clarifications updates several Handbook provisions, most notably formalizing detailed record-keeping and notification requirements for the motor finance commission consumer redress schemes (CONRED) and updating DISP compensation limits. While described as having no legal effect or policy change, firms involved in motor finance redress must note the extensive new tabular record-keeping and reporting obligations now embedded in CONRED Sch 1 and Sch 2.
ASIC's latest Financial Advice Update covers professional year guidance, reference checking compliance gaps, inadequate professional indemnity insurance among licensees, poor-quality superannuation advice, and the qualifications standard, alongside a lengthy list of enforcement actions involving the Shield and First Guardian Master Funds. Compliance teams at AFS licensees must urgently review PI insurance adequacy, reference checking processes, and adviser registration and qualification status, as ASIC has demonstrated active surveillance and a willingness to take licence cancellation and banning action against non-compliant firms and individuals.
This ASIC Gazette issue (No. A36/26, dated 8 September 2026) is a routine administrative publication listing company reinstatements, deregistrations, changes of company type, and standard instruments issued under the Corporations Act 2001. It contains no new policy guidance or regulatory obligations of substantive compliance significance beyond the standard notification of rights of review process, but compliance teams should still review listings for any entities relevant to their client or counterparty due diligence.
ASIC has banned Garry Crole, former director and responsible manager of Interprac Financial Planning and former Sequoia Financial Group CEO, from financial services director and responsible manager roles for 10 years. The ban stems from his failure to respond to known concerns about authorized representatives' advice models and inadequate oversight of the approved product list, which included the now-collapsed First Guardian and Shield Master Funds. This action underscores ASIC's continued focus on individual accountability for licensee oversight failures connected to superannuation advice misconduct.
ASIC has cancelled the AFS licence of Redstone Capital Pty Ltd after determining the firm had ceased carrying on a financial services business. This action illustrates ASIC's ongoing supervisory practice of removing dormant or inactive licensees from the regulated population, reinforcing the importance of maintaining active licence status and timely regulatory notifications.
Access Login