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UK corporate law highlights: FCA Enforcement Guide, FRC reporting and stewardship updates, sustainability assurance consultation, PISCES sandbox timelines, and Bubble City fiduciary breach judgment (5 June 2025)

Published on: 05 June 2025

Published by a LexisNexis Corporate expert
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Equity capital markets

FCA publishes new Enforcement Guide

The Financial Conduct Authority (FCA) has issued Policy Statement PS25/5, unveiling a new Enforcement Guide (ENFG) that will replace the previous guide from 3 June 2025. The revisions are designed to improve transparency around enforcement investigations and to rationalise provisions already covered elsewhere. PS25/5 follows Consultation Paper CP24/2 and CP24/2: Part 2. The FCA has dropped plans for an investigation publicity policy based on a ‘public interest test’ (the so‑called ‘name and shame’ proposal), and the ENFG keeps the ‘exceptional circumstances’ threshold for publicising investigations into regulated and listed firms. However, it permits the FCA to share information in limited situations, for example naming the subjects of investigations into suspected unauthorised financial services, including the communication of unapproved financial promotions. Further updates include those consulted on in CP24/2, alongside changes made in response to feedback received. See: LNB News 03/06/2025 30...

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