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On 14 November 2025, Tullycarnet Credit Union Limited (TCU) entered Liquidation and has now stopped trading. Barry O’Donnellof HM Accountants hasbeen appointed as Liquidator.TCU is a financial co-operative owned by its members. It is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) under Firm Reference Number (FRN) 576218 as a deposit-taker.TheFinancial Services Compensation Scheme (FSCS) is stepping in to protect members. It will return members’ money by 25 November 2025.What members need to knowIf you are a member and would like more information about receiving your money, contact the FSCS: Email: enquiries@fscs.org.ukPhone: 0800 678 1100or 020 7741 4100. (Lines are open Monday to Friday from 9am to 5pm.)Website: Visit theFSCS website for FAQs and further guidance.If you make or receive regular payments from your account or wish to discuss your account, you can contact the Liquidator:Email: barry@hm-accountants.comTelephone: 0289 044 5100Loan repaymentsMembers should not cancel any repayments, as the loan agreement remains in place and repayments still need to be made.Future loan repayments will be managed by the Liquidator, who will provide the Liquidation bank account details as soon as they can via post.If you made payments covering both loans and savings, the Liquidator will tell you the new amount to pay each month so that you do not fall into arrears.For more information, please contact the Liquidator.Stay alert to scamsIf you were a member of TCU, you may be contacted by the Liquidator, the FSCS or the credit union.These organisations follow appropriate security protocols.If you’re unsure whether a call is genuine, end the call immediately and contact the organisation directly using the details above.See more on how toprotect yourself from the most common types of scams.

Speech by Sarah Pritchard, FCA deputy chief executive,at The Investing and Saving Alliance’s (TISA) annual conference. I recently saw an article challenging readers to ‘say how old you are, without saying it’.The answers made me laugh: dial-up internet; landline phones; Star Wars was just Star Wars.At the risk of ageing myself, I remember those things.It got me thinking about how quickly the world changes, and how different my experiences have been to my parents’.I’m sure some of my decisions have puzzled them – just as my children’s decisions may puzzle me.But I can’t tell them what to do. Their worlds – and experiences, choices and needs – are different to mine.I can only guide them.That’s the approach we’re taking at the FCA, too.We are helping consumers navigate their financial lives in a constantly changing world where there’s no such thing as one size fits all.This guides our new 5-year strategy, which we are using to deepen trust, support growth, improve lives, and rebalance the inherent risks and trade-offs.

Speech by Dominic Holland, director of market oversight, at XLoD Global London 2025. IntroductionThe evolution of financial markets must continue to balance technological progress with the irreplaceable value of skilled professionals. As we gather in these rapidly shifting times, I invite you to picture our industry as a grand orchestra.Artificial intelligence and advanced analytics are the newest instruments added to our ensemble—powerful, transformative, and full of potential.However, just as a symphony requires the skilled touch of its musicians to bring music to life, financial markets also require the expertise of well-trained analysts.Technology may amplify our capabilities, but it cannot replace the judgement and insight at the heart of our craft.

Read the Statement of Policy (PDF)As an organisation, we want to learn lessons and continuously improve. We have a range of tools for doing this, such as ‘lessons learned’ reviews, internal audits and scrutiny by the National Audit Office, to identify and address any areas where we can improve our regulatory approach.For the most serious issues, the Financial Services Act 2012 (the Act) requires us to publish a statement of policy setting out the matters we will take into account to decide whether we carry out an investigation into possible regulatory failure, and give a report of the findings and recommendations to the Treasury for publication.We have therefore reviewed our policy for investigating and reporting on regulatory failure to ensure it is fit for purpose given the time elapsed. The only substantive change from the policy published in 2013 is that we have revised the monetary thresholds for ‘significance’ of consumer detriment in line with inflation. We will continue to do this periodically.We are required to carry out an investigation and produce a report when:There have been events involving a regulated person or others which indicate significant failure to ensure appropriate consumer protection, or had or could have had a significant adverse effect on our integrity or competition objectives, and The events might not have occurred or the adverse effect might have been reduced but for a serious failure in the system created by FSMA or the operation of that system. A formal statutory investigation and report for the Treasury is expected to occur only in exceptional cases.

Contracts for Difference (CFD) providers have been warned by the FCA to provide fair value, after its review found some firms had not risen to the Consumer Duty. Introduced in July 2023, the duty set a higher standard for consumer protection in financial services.Some good practice was in evidence, including firms simplifying fee structures and stopping investors who might not be able to shoulder losses from buying CFDs in the first place. However, the FCA’s review found room for improvement, including where firms were:not adequately considering consumer complaints or customer satisfaction as part of their fair value assessmentsmaking little or no changes to their products or services in response to the Consumer Dutyapplying varying levels of overnight funding charges without providing clear justification – the potentially significant charges often were not adequately disclosedcharging overnight funding separately on matched long and short positions, incurring potentially significant ongoing charges with little benefit for the consumerWhere necessary, the FCA will engage directly with firms included in this review to drive improvements. The regulator will also consider further work to address the issues identified. The FCA will act against any firms and individuals that fail to meet required standards.Mark Francis, director of sell-side markets at the FCA, said:'The Consumer Duty raises the bar for consumer protection across financial services and CFD providers must meet those standards. CFDs are complex, risky products and it is vital that providers act to deliver good outcomes for customers, communicate clearly and provide fair value. It is also important that consumers shop around and ensure they fully understand the investment and its costs.'The FCA’s review of CFD providers assessed how a range of large and small firms delivered fair value, including how costs and charges were disclosed.Notes to editorsRead our multi-firm review of contracts for difference providers’ provision of price and value.CFDs are a way to bet on the price of a share or asset moving up or down without owning it. Under the Consumer Duty, CFD firms must ensure the price a consumer pays is reasonable compared to the overall benefits they can reasonably expect to receive.CFDs are complex financial products used to speculate on the movement in prices on a wide range of assets. As a result, they carry a considerable risk of substantial losses.In 2019, the FCA placed restrictions on the sale of CFDs to retail customers.In 2024, the FCA published good and poor practice insight considering price and fair value under the Consumer Duty.The FCA recently issued a warning to investors in CFDs against giving up vital consumer protections.In the coming weeks, the FCA will launch a consultation around client categorisation to ensure the right protections apply for the consumers who need them and create more freedom for those professional investors who don't.The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.