FCA Explains Why It Regularly Reviews Financial Rules, Citing Mortgage, SMCR, Wholesale Reporting and IPO Research Reforms

The UK Financial Conduct Authority published a blog explaining that markets, consumer behavior and technology change, so rules may need updating, simplifying or removing. It cites recent examples: the 2025 Mortgage Rule Review simplified requirements and eased remortgaging; the first phase of Senior Managers and Certification Regime reforms was completed in 2026; in August 2026 it changed UK transaction-reporting rules to cut duplicative fields, expected to save firms over £100 million annually; and it amended IPO research rules so firms no longer wait seven days to publish research, with changes taking effect immediately after a spring consultation. The FCA says rule reviews keep regulation effective and proportionate, support learning and accountability, and will continue through consultations, post-implementation reviews and stakeholder feedback.