Context
The FCA has published a webpage with an update that, from 30 April 2025, it will stop issuing and publishing portfolio letters. Instead, the FCA will publish a small number of market reports. The market reports will include communications relevant to different types of firms and insights from FCAs supervisory work. In line with its Consumer Duty Requirements Review, the FCA is streamlining how it sets its supervisory priorities, and wants to make it easier for firms to find up-to-date supervisory communications on the FCA website by retiring historical portfolio letters and Dear CEO letters.
Key points to note and next actions
- Until market reports are published later this year, firms should continue to refer to relevant portfolio letters and Dear CEO letters for guidance.
- The FCA will continue to review its approach to other historical communications and consider how they can routinely review outdated material. Dear CEO Letters will still be used to inform senior management at firms about significant issues that require action