Information on supervisory notices, tribunal applications and voluntary requirements - June 2026

A total of 63 First Supervisory Notices were issued between 26 November 2021 and 31 March 2025. This includes 2 Further First Supervisory Notices, issued to update the content of an initial First Supervisory Notice. A total of 12 Second Supervisory Notices were issued between 26 November 2021 and 31 March 2025. 

Where published, Supervisory Notices are made available on our publications page and can be filtered on an annual basis, via the following link: Publications search results | FCA.[1] 

Please note that sometimes only the Second Supervisory Notice or Further First Supervisory Notice is published, so some notices may appear in different years of publication. 

Concerning the number Supervisory Notices issued after 31 March 2025 to the date of the request, we are due to publish the information you requested in our annual enforcement data later this summer. Once published, this data will be available here: Data | FCA[2].

Between 26 November 2021 and the date of your request, one subject of a Supervisory Notice has made a privacy application to the Upper Tribunal. This application was not granted. 

Between 26 November 2021 and the date of your request, 4 subjects of a Supervisory Notice have made suspension applications to the Upper Tribunal. None of these applications have been granted.

A breakdown of the number of instances where a firm subject to a Supervisory Notice was no longer authorised within 12 months following the issuance of that Supervisory Notice can be found below:

• 2022/23 - 1
• 2023/24 - 2
• 2024/25 – 2

Where the Supervisory Notices are published, this information can also be found by reviewing the Supervisory Notices on our website and cross-checking against the Financial Services Register. 

A total of 261 firms that commenced wind down proceedings since March 2025 were subject to a requirement when they commenced wind down proceedings. 

Please note that we are unable to confirm exactly how many of these requirements were VREQs, as some were in place prior to March 2025, when our updated approach to categorising requirements was introduced.

Before responding to this part of your request, we would like to explain that we are currently undertaking work to consolidate the total number of VREQs for April 2025 to March 2026 and intend for the final data to be published along with our annual enforcement data later this summer. Please note the data will include both published and unpublished VREQs.

For this reason, whilst we can confirm that we hold the underlying data on the individual requirements issued, until this reconciliation exercise has been completed, we do not hold systematic data on the number of unpublished VREQs from April 2025 to March 2026. This is because the number of unpublished VREQs is not recorded in a readily extractable format and we would need to undertake an analysis of all requirements issued during the relevant period to comply with this part of your request at this point in time. We are of the view that the amount of analysis and reconciliation needed to undertake this exercise would be tantamount to creating new information, which we are not required to do for the purposes of FOIA.  

We can, however, provide you with the figure for March 2025. In this month, 9 Requirements were agreed by VREQ on firms that are not published on the FCA Register. Please note that this figure reflects the number of individual requirements agreed with firms, not necessarily the distinct number of VREQs agreed per firm. This is because multiple requirements may form part of the same overarching VREQ entered on the register. The figure may also include VREQs agreed by the Prudential Regulation Authority (PRA).