The UK Financial Conduct Authority (FCA) has set out its five-year strategy to combat financial crime, support economic growth, help consumers navigate their financial lives, and become a smarter, more efficient regulator.
In her speech on 29 April 2025, Therese Chambers, Joint Executive Director of Enforcement and Market Oversight, stated that, “our work on market abuse is a critical part of all areas of that strategy”. She laid out a plan for combatting market abuse built on a ‘three Ps’ approach – being predictable, proportionate, and purposeful – to ensure enforcement is transparent, balanced and outcome-focused.
The plan signalled a balanced approach to market abuse surveillance, aiming to streamline compliance requirements – such as simplifying transaction reporting – to reduce burdens on firms while maintaining market integrity.
Chambers stated that enforcement priorities are focused on the most serious threats, with organised crime groups (OCGs) identified as a top risk, accounting for approximately 25% of suspicious reports. The FCA is increasing arrests, multi-agency coordination and data-driven surveillance to disrupt these insider dealing networks.
She emphasised that firms are the first line of defence against market abuse and urges close engagement with regulators, stating that open dialogue and cooperation are deemed critical to complete the “market integrity jigsaw” together.
Failing to meet these expectations carries serious consequences. She stressed that the FCA stands ready to use its full regulatory toolkit, from fines and bans to business restrictions, to stamp out misconduct and keep UK markets safe and trusted.
In this clear message, she warned that the deliberate leaking of inside information – such as releasing details of M&A transactions to the press ahead of official RNS announcements – not only fundamentally undermines market integrity, but it also creates an uneven playing field for investors. Deliberate unlawful disclosure constitutes a serious cultural failing within firms, which will result in significant reputational damage and heightened regulatory scrutiny, with the FCA and the Takeover Panel intensifying their joint efforts to stamp out this unacceptable practice.
Our guidance
In light of the importance of combatting market abuse as stated in Chambers speech, we recommend firms do the following to support the FCA’s five-year strategy and its battle against market abuse:
- Assess and reinforce your market abuse controls and surveillance, especially in high-risk areas (e.g. insider dealing by organised groups, suspicious client behaviour, potential information leaks).
- Engage proactively with the FCA. Provide timely Suspicious Transaction and Order Reports (STORs), participate in FCA consultations (such as upcoming changes to transaction reporting), and maintain open lines of communication with the regulator about market integrity issues.
- Take decisive action on identified risks. Be prepared to offboard clients or business practices that pose undue market abuse risk, address any compliance gaps promptly, and align your firm’s approach with the FCA’s “predictable, proportionate, purposeful” principles.
How we help
With heightened FCA focus and growing investor expectations, firms must demonstrate robust controls and clear accountability. We offer UK regulatory expertise that can be combined with advanced RegTech to help you stay ahead of enforcement risk and safeguard market integrity.
Contact us to learn how our tailored solutions can support your firm.
UK regulatory advisory
Our experts help you respond confidently to regulatory pressure by:
- Strengthening market abuse frameworks aligned to FCA priorities
- • Resolving transaction reporting issues via our ARRMA service (ACA Regulatory Reporting Monitoring and Assurance)
- Enhancing STOR processes for timely, accurate reporting
- Embedding a culture of integrity across compliance and leadership
- Preparing for regulatory scrutiny from the FCA and Takeover Panel
Regulatory technology
Support global compliance and protect investor trust with ComplianceAlpha, our intelligent surveillance platform:
- Detect and assess suspicious trading with full context
- Investigate and document issues efficiently
- Monitor all asset classes to reduce undetected risk
- Surveil firm communications to detect potential leaks of confidential information and maintain compliance records
- Monitor expert network interactions using a blend of AI and human oversight to support compliant research and mitigate insider risk