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What the FCA’s latest warning on Annex 1 entities means for UK banks

Daytime view of bank headquarters and corporate office towers in Canary Wharf
Photo: VV Shots/Getty Images

Jean Hurley

1 min read
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Regulated banks can no longer treat Annex 1 regulation as a stamp of compliance.

Following the FCA statement on August 7, 2026, announcing heightened scrutiny over Annex 1 financial institutions, major retail and investment banks across the UK are coming under renewed pressure to overhaul their counterparty risk procedures. 

​While Annex 1 firms, comprising unregulated lenders, financial leasing companies, safe custody providers, and money brokers, areanti-money-laundering

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