FCA Fines July 2026: No Fines, an EFG Censure and Six Cancellations
FCA Fines July 2026: No Fines, an EFG Censure and Six Cancellations
July 2026 was the third month of the year, after April and June, in which the FCA published no monetary penalty. The FCA's 2026 fines page lists no fine dated in July. The month's eight Final Notices instead censured the liquidated firm Equity for Growth (Securities) Limited, banned an individual convicted of money laundering and cancelled the authorisation of six firms.
July 2026 at a Glance
| Measure | July 2026 |
|---|---|
| Monetary penalties on the FCA 2026 fines page | 0 |
| Final Notices published | 8 |
| Public censures | 1 (Equity for Growth (Securities) Limited) |
| Prohibition orders | 1 (Dharmendra Solanki) |
| Firm authorisation cancellations | 6 |
| Year to date, January to July | 9 fines, 16,842,723 pounds |
Equity for Growth: a censure because the firm is in liquidation
The Final Notice to Equity for Growth (Securities) Limited, dated 27 July and published on 30 July 2026, publishes a statement of censure under section 205 of the Financial Services and Markets Act 2000. The reason for a censure instead of a fine is stated openly: the High Court wound the firm up on 25 March 2026 on a petition filed by the FCA.
The FCA records the penalty it would have imposed. It would have been 386,467 pounds, made up of 96,367 pounds of disgorgement and a punitive element of 290,100 pounds, after the 30% settlement discount that does not apply to disgorgement. Without the discount the figure would have been 510,767 pounds. The Official Receiver, as liquidator, agreed to resolve the matter.
The conduct concerned financial promotions for minibonds. Between 1 January 2018 and 31 August 2019 the firm approved seven promotions for four unregulated minibond issuers, which its appointed representatives and other introducers used to sell the bonds, earning commissions of 15% to 27.5% of the money they raised. The FCA found that the promotions failed the fair, clear and not misleading rule in COBS 4.2.1(1)R because they did not disclose the level or range of commission, that commission was deducted from the whole investment fund, or that the total could not be calculated at the point of investment. Investors who invested directly were unknowingly subsidising commissions paid on introduced money, and the notice says none of them had been given an accurate picture of the risk to their capital or the likelihood of the stated returns.
Two points matter for other firms. First, a firm that approves financial promotions for unregulated third parties owns the quality of those promotions. Second, the FCA's winding-up petition rested on liabilities linked to future Financial Ombudsman Service awards for investors who bought the minibonds, which shows how a complaints tail can end a firm.
One prohibition order
The Final Notice to Dharmendra Devji Solanki, dated 24 July, prohibits him from any regulated function. Mr Solanki had been approved as a money laundering reporting officer at several firms between March 2018 and July 2022. In October 2023 he pleaded guilty to carrying on a regulated activity without authorisation and to money laundering. On 27 June 2025 he was sentenced to two years' imprisonment suspended for 24 months, with community and unpaid work. He did not refer the Decision Notice to the Upper Tribunal within 28 days, so the FCA made the order final on 24 July 2026 and it took effect from that date.
Six authorisations cancelled
Six Final Notices ended a firm's regulated status, all through section 55J of the Act.
- The Claims Team Limited and Topups Loans Ltd (both 16 July), Route 28 Ltd and Seafront Motors Limited (both 27 July): permissions cancelled for failing to pay overdue fees and levies despite requests.
- Monarch Sterling Limited (30 July): permission cancelled because, despite repeated requests and warnings, the firm did not submit its regulatory returns, including its complaints returns.
- Premier Research and Marketing (24 July), a sole trader operating under that name: permission cancelled after a Decision Notice issued in November 2024 found the firm had not submitted required regulatory returns.
Decisions not yet final
On 23 July the FCA announced decisions to ban a father and son, Alec Finch and Robert Finch, from financial services after the High Court found that they had engaged in fraud and misused client money. Both have referred the Decision Notices to the Upper Tribunal, so neither is final and no amount is counted here.
Where the year stood after July
| Month | Fines | Value in pounds |
|---|---|---|
| January | 5 | 2,518,323 |
| February | 1 | 237,700 |
| March | 2 | 13,331,700 |
| April | 0 | 0 |
| May | 1 | 755,000 |
| June | 0 | 0 |
| July | 0 | 0 |
| Year to date | 9 | 16,842,723 |
What This Means for Compliance Teams
For firms that approve financial promotions for others, the Equity for Growth notice is a checklist. Ask what the promotion leaves out about fees and commissions, how a reader can tell the total cost, and who signs off the approval.
For firms with senior managers, remember that money laundering reporting officers are held to account personally. A criminal conviction after leaving a role still leads to a prohibition.
For boards, treat the regulatory calendar as a control. All six of July's cancellations rested on unpaid fees or missed regulatory returns.
Key Takeaways
- No fine, but a recorded penalty figure. The FCA stated that it would have imposed 386,467 pounds on Equity for Growth, had the firm not been in liquidation.
- Promotions carry liability. The FCA found seven promotions did not disclose commission levels of up to 27.5%.
- Complaints tails can be fatal. The FCA's winding-up petition rested on liabilities linked to future Ombudsman awards.
- Convictions end careers. A former money laundering reporting officer was banned after pleading guilty to money laundering.
- Basic obligations still end authorisations. Fees and returns underlay all six cancellations.
What Comes Next
August brought five fines in a single month. Read FCA Fines August 2026 for the Taylor, Toni, Nagy, Maraj and Hadjigeorgiou cases. The year is gathered in the FCA fines 2026 topic hub, and notices can be searched in RegActions.
About the Data
Figures come from the FCA's published Final Notices and its 2026 fines page, checked on 6 November 2026. The penalty and disgorgement figures for Equity for Growth are quoted from the Final Notice and are not fines. Fine counts and values for January to May are RegActions' stored totals, each matched to the FCA's fines page. Notice dates are those stated in each notice; where a notice carries no date, the publication date is used.