THE FINANCIAL CONDUCT AUTHORITY
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-07-20 (in 2mo)
Last made up 2025-07-06
Watchouts
Cash
£393M
+26.1% vs 2024
Net assets
£72M
+207.3% vs 2024
Employees
5,379
+7.7% vs 2024
Profit before tax
£57M
+778.5% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
6 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 3 times since incorporation
- THE FINANCIAL CONDUCT AUTHORITY 2013-04-02 → present
- THE FINANCIAL SERVICES AUTHORITY 1997-10-28 → 2013-04-02
- THE SECURITIES AND INVESTMENTS BOARD 1987-08-20 → 1997-10-28
- SECURITIES AND INVESTMENTS BOARD LIMITED(THE) 1985-06-07 → 1987-08-20
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £758,300,000 | £842,000,000 | |
| Operating profit | -£3,400,000 | £44,500,000 | |
| Profit before tax | £6,500,000 | £57,100,000 | |
| Net profit | -£44,800,000 | £48,500,000 | |
| Cash | £311,700,000 | £393,000,000 | |
| Total assets less current liabilities | £266,200,000 | £275,300,000 | |
| Net assets | £23,400,000 | £71,900,000 | |
| Equity | £23,400,000 | £71,900,000 | |
| Average employees | 4,995 | 5,379 | |
| Wages | £354,200,000 | £394,200,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | -0.4% | 5.3% | |
| Net margin | -5.9% | 5.8% | |
| Return on capital employed | -1.3% | 16.2% | |
| Gearing (liabilities / total assets) | 96.3% | 89.6% | |
| Current ratio | 0.92x | 1.01x | |
| Interest cover | -0.68x | 9.27x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Gareth Davies, Comptroller and Auditor General
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“I have concluded that the preparation of the financial statements in accordance with the going concern basis of accounting is appropriate.”
Group structure
- THE FINANCIAL CONDUCT AUTHORITY · parent
- Payments Systems Regulator Limited (PSR) 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 90 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ARORA, Nisha Anumeha | Secretary | 2026-05-05 | — | — |
| ALDER, Ashley Ian | Director | 2023-02-20 | Jun 1959 | British |
| BALL, John Eric | Director | 2025-05-27 | Mar 1962 | British |
| BLACK, Julia Mary, Professor | Director | 2025-05-12 | Jan 1967 | British |
| HUTCHERSON, Sophie Louise | Director | 2023-04-17 | Apr 1965 | British |
| KIMBER, Anita | Director | 2025-05-12 | Apr 1964 | British |
| MALRAIT, Stephane Jean-Pierre | Director | 2025-10-20 | Aug 1966 | French |
| RATHI, Nikhil | Director | 2020-10-01 | Aug 1979 | British |
| WOODS, Samuel Richard | Director | 2016-07-01 | May 1973 | British |
| ZHANG, Zheng | Director | 2024-02-19 | Jan 1979 | British |
Show 90 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALLEN, Timothy Edward | Secretary | — | 1998-07-31 |
| BAKE, Miles | Secretary | 2022-03-23 | 2023-12-31 |
| BROWN, Kenneth Iain | Secretary | 2004-12-01 | 2012-05-31 |
| DAY, Sarah Louise | Secretary | 2026-03-16 | 2026-05-04 |
| HAGUE, William | Secretary | 2024-01-01 | 2024-06-30 |
| HALL, Tobias Ralph | Secretary | 2024-07-01 | 2026-03-16 |
| KING, Geoffrey William | Secretary | 1998-10-14 | 2004-12-01 |
| PEARCE, Simon Marshall | Secretary | 2012-06-01 | 2022-03-23 |
| SKEELS, Jennifer Elizabeth Caroline | Secretary | 1998-08-01 | 1998-10-14 |
| ADAMSON, Clive Peter | Director | 2013-04-01 | 2015-01-30 |
| ALEXANDER OF WEEDON, Robert Scott, Lord | Director | 1994-01-01 | 1996-12-31 |
| BAILEY, Andrew, Dr | Director | 2013-04-01 | 2020-03-13 |
| BLACK, Moira Elizabeth | Director | 1998-12-01 | 2004-12-01 |
| BOYD, Stewart Craufurd | Director | 1999-03-01 | 2004-03-31 |
| BRADLEY, Catherine Annick Caroline | Director | 2014-08-02 | 2020-07-31 |
| BRIAULT, Clive Bramwell | Director | 2004-04-01 | 2008-04-30 |
| CHILD, Denis Marsden | Director | — | 1992-07-31 |
| CLEMENTI, David Cecil, Sir | Director | 1997-09-01 | 2002-08-31 |
| COLE, Margaret | Director | 2010-09-07 | 2012-03-31 |
| COLEMAN, Liam John | Director | 2019-11-05 | 2025-10-09 |
| CONROY, Bernadette Sarah | Director | 2020-04-06 | 2026-04-05 |
| CRAVEN, John Anthony, Sir | Director | — | 1993-10-31 |
| CROFT, Roy Henry Francis | Director | — | 1993-04-12 |
| CROSBY, James Robert, Sir | Director | 2004-01-15 | 2009-02-11 |
| DAVIDSON, Janet Amanda Margaret | Director | 2010-05-01 | 2016-03-31 |
| DAVIES, Howard John, Sir | Director | 1996-07-01 | 2003-09-21 |
| DAWSON, Sandra, Professor Dame | Director | 2010-05-01 | 2013-03-31 |
| DE SWAAN, Tommy | Director | 2001-01-19 | 2007-01-18 |
| DEWAR, Sally Marie | Director | 2008-01-09 | 2011-01-09 |
| FAIRBAIRN, Carolyn Julie | Director | 2007-12-11 | 2011-12-31 |
| FARRANT, Richard Henry | Director | 1998-06-01 | 1999-01-31 |
| FISHER, Peter Ryerson | Director | 2007-01-19 | 2013-03-31 |
| FLANAGAN, Brian John | Director | 2007-01-19 | 2013-02-28 |
| FLETCHER, Amelia | Director | 2013-04-01 | 2020-03-31 |
| FOOT, Michael David Kenneth Willoughby | Director | 1998-06-01 | 2004-05-31 |
| FORSEKE, Karin Birgitta | Director | 2004-12-01 | 2012-07-03 |
| FRIED, Bradley | Director | 2016-04-01 | 2018-06-30 |
| GARDINER, John Anthony | Director | — | 1993-12-31 |
| GIEVE, Edward John Watson, Sir | Director | 2006-01-16 | 2009-02-28 |
| GILMORE, Rosalind Edith Jean | Director | 1993-12-01 | 1996-11-30 |
| GRIFFITH-JONES, John Guthrie | Director | 2012-09-01 | 2018-03-31 |
| HARKER, Ronald David | Director | 2013-04-01 | 2015-03-03 |
| HAZOU, Kyra | Director | 2001-01-19 | 2007-01-18 |
| HOGG, Sarah Elizabeth Mary, Baroness | Director | 2016-04-01 | 2020-09-24 |
| HUTTON, Deirdre Mary, Dame | Director | 1997-12-11 | 2007-12-10 |
| JACK, Robert Barr, Professor | Director | 1994-11-01 | 1997-10-31 |
| KELLY, Ruth Maria, Rt Honorable | Director | 2016-04-01 | 2019-03-31 |
| KENMIR, David Forbes | Director | 2004-04-01 | 2009-03-31 |
| KENNEDY, John Maxwell | Director | 1993-12-01 | 1998-11-30 |
| LARGE, Andrew Mcleod Brooks, Sir | Director | 2002-09-10 | 2006-01-15 |
| LARGE, Andrew Mcleod Brooks, Sir | Director | — | 1997-07-31 |
| LESSELS, Norman | Director | — | 1994-07-31 |
| LICHNER, Jeannette Ann | Director | 2020-04-01 | 2023-04-01 |
| LLOYD, Richard James | Director | 2019-04-01 | 2026-03-31 |
| MANSER, Peter John | Director | — | 1993-12-31 |
| MAYNARD, Alice Mary | Director | 2019-11-05 | 2025-11-04 |
| MCATEER, Michael Gerard | Director | 2009-11-01 | 2015-12-31 |
| MCCARTHY, Malcolm Christopher, Sir | Director | 2003-09-22 | 2008-09-19 |
| MCDERMOTT, Tracey Elizabeth | Director | 2013-04-01 | 2016-06-30 |
| MCDONALD, Oonagh Ann, Doctor | Director | 1993-12-01 | 1998-11-30 |
| MILES, David Kenneth | Director | 2004-04-01 | 2009-07-31 |
| NOTT, Gillian | Director | 1998-12-01 | 2004-12-01 |
| OATES, John Keith | Director | 1998-02-16 | 2001-02-15 |
| PAIN, Jonathan Charles | Director | 2008-09-08 | 2011-01-29 |
| PALMER, Thomas Joseph | Director | — | 1993-09-22 |
| PALMER, Thomas Joseph | Director | — | 1992-08-01 |
| PLATT, Jane Christine | Director | 2013-04-01 | 2019-03-31 |
| POMEROY, Brian Walter, Sir | Director | 2009-11-01 | 2016-03-31 |
| QUARTANO, Ralph Nicholas | Director | — | 1993-07-31 |
| RANDELL, Charles David | Director | 2018-04-01 | 2022-05-31 |
| RODRIGUES, Christopher John | Director | 1997-12-11 | 2003-12-10 |
| ROSS RUSSELL, Graham | Director | — | 1993-10-31 |
| RUNCIMAN, Walter Garrison, Viscount | Director | — | 1998-12-31 |
| SAGGAR, Shamit | Director | 1998-12-01 | 2004-12-01 |
| SANTS, Hector William Hepburn | Director | 2004-05-04 | 2012-06-30 |
| SCOTT, Andrew, Professor | Director | 2009-11-01 | 2013-03-31 |
| SCOTT, Esme | Director | — | 1993-09-02 |
| SERGEANT, Carol Frances | Director | 2001-06-01 | 2003-11-07 |
| SLACK, Michael Dennis | Director | 2004-12-01 | 2009-10-31 |
| SMITH OF KELVIN, Robert Haldane, Lord | Director | 1997-12-11 | 2000-12-10 |
| STACE, Nicholas Charles | Director | 2017-04-01 | 2020-01-29 |
| STEVENSON, Hugh Alexander | Director | 2004-06-01 | 2010-06-01 |
| STEWARTBY, Bernard Harold Ian Halley, Lord | Director | 1993-12-01 | 1997-11-30 |
| STRACHAN, James | Director | 2009-11-01 | 2013-03-31 |
| THIEKE, Stephen Gerard | Director | 2002-11-01 | 2005-06-30 |
| THIEKE, Stephen Gerard | Director | 1997-12-11 | 2000-12-10 |
| THORPE, Phillip Andrew | Director | 1998-06-01 | 2001-05-31 |
| TINER, John Ivan | Director | 2001-06-01 | 2007-07-19 |
| TITCOMB, Lesley Jane | Director | 2013-04-01 | 2015-01-31 |
| TUCKER, Paul | Director | 2009-03-01 | 2013-03-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hm Treasury | Corporate entity | Appoints directors | 2016-08-24 | Active |
Filing timeline
Last 20 of 440 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-05 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-05-05 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-04-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-16 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-16 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-02-11 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-05 | AA | accounts | Accounts with accounts type group | |
| 2025-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-25 | AA | accounts | Accounts with accounts type group | |
| 2024-07-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-07-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-02-19 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 15
- Capital events
- 0
- Officers appointed
- 5
- Officers resigned
- 6
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+11%
£758,300,000 £842,000,000
-
Cash
+26.1%
£311,700,000 £393,000,000
-
Net assets
+207.3%
£23,400,000 £71,900,000
-
Employees
+7.7%
4,995 5,379
-
Operating profit
+1,408.8%
-£3,400,000 £44,500,000
-
Profit before tax
+778.5%
£6,500,000 £57,100,000
-
Wages
+11.3%
£354,200,000 £394,200,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers