FCA Opens Doors to Support Fast-Growing Financial Firms

WHY THIS MATTERS: The UK’s FCA has formally opened a critical pathway for the country’s most ambitious fintechs and solo-regulated institutions. This expansion of the Scale-up Unit beyond its initial pilot for dual-regulated firms signifies the maturing of the government’s strategy to reduce the regulatory burden on innovative businesses. For fast-growing companies, the complex and time-consuming process of navigating regulatory change and approvals often acts as a significant drag on momentum, sometimes inhibiting growth altogether. The provision of a dedicated point of contact to smooth out policy friction is a direct response to industry calls. This initiative is central to the FCA’s commitment to achieving its secondary objective of fostering competition and growth, ensuring that the UK remains a competitive environment for financial innovation. Firms that successfully leverage this support can accelerate product development and deployment, translating policy vision into real-world commercial traction today.

Fast‑growing and innovative financial services businesses can now apply for more support to help them grow. 

The FCA’s Scale-up Unit provides tailored support to firms, helping them navigate regulation so they can scale sustainably. The unit is now open to solo-regulated firms to apply. 

The unit offers a dedicated point of contact and practical support to help navigate regulatory processes, develop innovative products and understand the impact of policy changes.  

Jessica Rusu, FCA chief data, information and intelligence officer, said: “We want firms to be able to grow with confidence. This initiative will help them navigate regulation, scale sustainably and contribute to making the UK the best place to start and grow a financial services business.” 

The FCA and PRA are already supporting 6 dual-regulated firms through the Scale-up Unit as part of a pilot. This has provided the FCA insight into how it can best support growing firms and will continue this dialogue with solo-regulated firms.   

The FCA will use insights from participating firms to inform wider policy and process improvements, ensuring regulation keeps pace with innovation. 

Applications for FCA solo-regulated firms to join the Scale-up Unit are open from 20 May to 22 June 2026.  

FF NEWS TAKE: The move to include solo-regulated firms is a crucial inflection point for the Scale-up Unit, proving the regulator is serious about its growth mandate. This program has the potential to truly scale-up the most promising UK financial services businesses by offering invaluable regulatory clarity. The measure moves the needle by structurally addressing an industry pain point. Next, we need to watch for the tangible policy changes the FCA implements based on the insights gained from these firms, demonstrating a genuine feedback loop.