FCA opens authorisation gateway for targeted support
Why this matters
This regulatory update from the FCA opens a new authorization gateway for firms to provide 'targeted support' services to consumers, which is a new regulated activity. This will impact banks, wealth managers, and other financial firms that want to offer these new services to help consumers make important financial decisions. The update is of medium urgency as it marks an important milestone, but the new rules do not take effect until 2026.
AI-generated classification rationale, not a full analysis. Verify with the original FCA source before acting. Full disclaimer.
What the FCA said
Firms can now apply for permission to provide targeted support. Targeted support is a once in a generation change that will help millions navigate their financial lives. From 6 April 2026, people’s banks, pension providers, or other financial firms that are authorised for targeted support can provide suggestions…
Extract from FCA . Read the full notice at the source for the authoritative text.
Context
Financial Conduct Authority (FCA) — UK financial services regulator. We track 425 updates from them.
Financial services regulation in the UK, primarily overseen by the FCA and PRA. Browse all United Kingdom updates.
This update is classified under Authorisation & Licensing, Consumer Protection / Conduct, Banking & Credit and Investment Management.