Financial Conduct Authority
UK's financial markets regulator, overseeing firms and protecting consumers.
Last refreshed: 13 April 2026 · Appears in 2 active topics
Timeline for Financial Conduct Authority
PISCES runs first pre-IPO trading events
UK Startups and InnovationMentioned in: Electoral Commission blind on crypto cash
UK Local Elections 2026- Why can't the Electoral Commission investigate Reform UK's crypto donations?
- The processor, Radom Pay, is Polish and outside FCA regulation. The Electoral Commission cannot verify wallet addresses without Reform UK's cooperation.Source: uk-elections-2026
- What does the Financial Conduct Authority regulate in the UK?
- The FCA regulates around 50,000 financial services firms in the UK, overseeing conduct, market Integrity, and consumer protection. Overseas crypto processors fall outside its remit.Source: uk-elections-2026
Background
The Financial Conduct Authority (FCA) is the UK's independent financial services regulator, responsible for overseeing around 50,000 firms and protecting consumers and market Integrity. In the 2026 elections context, the FCA became relevant because Radom Pay — the Polish Cryptocurrency processor used by Reform UK to handle £12 million in donations from Christopher Harborne — operates outside FCA jurisdiction, leaving the Electoral Commission unable to verify the transactions .
The case exposed a gap in the UK's political finance framework: crypto donations can be processed through non-UK payment providers that fall outside the FCA's regulatory perimeter, with no legal mechanism to compel disclosure of wallet addresses. The Electoral Commission confirmed it lacked the tools to investigate further without Reform UK's cooperation.