
The regulator has dropped its proposed “public interest” test, but will take certain aspects of its proposals forwards.
By Andrea Monks, Rob Moulton, Nell Perks, Anna James, and Charlotte Collins
On 3 June 2025, the FCA published its final policy (PS25/5) on announcing enforcement investigations, along with its updated Enforcement Guide, ending a rather turbulent consultation process.
The FCA issued two consultations on these proposals — in February 2024 and November 2024 — after the reaction