Britain’s Financial Conduct Authority is preparing to ratchet up its enforcement strategy in 2026, with larger fines, faster investigations, and a willingness to publicly name companies under scrutiny.
The numbers tell the story. FCA penalties exceeded £186 million during the 2024-2025 period, a staggering increase from just £42.6 million the year prior.
A regulator with momentum
The FCA’s newfound aggression follows a successful legal battle in which the regulator defended its practice of publicly identifying firms under investigation. A High Court ruling validated the approach, essentially handing the FCA a green light to keep naming and shaming.
The largest single fine of 2025 landed on Nationwide, which was hit with a £44 million penalty. That figure alone would have represented more than the FCA’s entire penalty haul from the prior year.
