The Financial Conduct Authority published consultation paper CP26/19 on Friday, 12 June 2026, proposing changes to its Decision Procedure and Penalties Manual (DEPP) that would raise the minimum market abuse penalty for individuals in the most serious cases from £100,000 to £150,000.
The consultation also proposes extending the FCA’s penalty framework to cover cryptoasset market abuse under the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026.
Other proposed changes include clarifying how the FCA treats deferred bonuses, pay and shares when calculating penalties, following two 2025 Upper Tribunal decisions in Staley v FCA and Gonzalez v FCA. The regulator would also raise serious financial hardship thresholds to reflect current living costs and allow more flexibility in who makes settlement decisions.
The FCA last updated key DEPP thresholds in 2010.
Alongside the consultation, the regulator on Monday published a Final Notice for RVB Currency UK Ltd, cancelling the firm’s authorisation as an Authorised Payment Institution, and a Decision Notice for P & D Engineering (Bredon) Limited.
The consultation is open for responses until 10 August 2026.
