FCA Fines October 2026: No New Fines, Two Bans and Three Cancellations
FCA Fines October 2026: No New Fines, Two Bans and Three Cancellations
The FCA published no new monetary penalty in October 2026, leaving the year's total at 19 fines worth 19,832,006 pounds. The FCA's 2026 fines page lists no fine dated after 30 September. The page records its last update as 21 October 2026, so a fine published later in October could still be added. The month's five Final Notices banned two individuals convicted of dishonesty offences and ended the authorisation of three firms. It was the fourth month of 2026 without a fine, after April, June and July.
October 2026 at a Glance
| Measure | October 2026 |
|---|---|
| Monetary penalties on the FCA 2026 fines page | 0 |
| Final Notices published | 5 |
| Prohibition orders | 2 (Joseph Molloy, John Burford) |
| Firm authorisation cancellations | 3 |
| Year to date, January to October | 19 fines, 19,832,006 pounds |
| Months with at least one fine in 2026 | 6 of 10 |
Two prohibition orders after criminal convictions
Both of October's individual outcomes rest on convictions, and neither carries a fine.
The Final Notice to Joseph Molloy, dated 1 October, prohibits him from performing any function in relation to regulated activity. Mr Molloy had held approvals at numerous firms between 2001 and 2019 and was a certified person at an authorised firm until June 2025. Between October 2023 and September 2024 he committed fraud by false representation, dishonestly obtaining travel cards on false accounts to avoid paying the full fare on Southeastern trains. He was convicted on 21 January 2026 after a guilty plea and sentenced on 17 February 2026 to 10 months' imprisonment suspended for 18 months, with unpaid work and compensation to the train operator. The FCA concluded that he is not fit and proper. He did not refer the Decision Notice to the Upper Tribunal.
The case shows how far the FCA's fitness test reaches. The conduct had nothing to do with a regulated firm or its customers, yet it was enough to remove someone from the industry.
The Final Notice to John Charles Burford, dated 8 October and published the next day, prohibits him after his conviction on 27 June 2025 for dishonestly making false representations to investors, contravening the general prohibition twice by carrying on regulated activity without authorisation, and communicating an investment inducement. He was sentenced to two years' imprisonment. The notice records that he advised people on investments through a paid trading-alerts subscription and an investment scheme for subscribers, and then dishonestly spent a substantial proportion of the funds on himself, including his home and lifestyle, causing substantial losses to investors. He too did not refer the matter to the Tribunal.
Together with the three convicted individuals banned in June, covered in FCA Fines June 2026, and the July ban on a former money laundering reporting officer, covered in FCA Fines July 2026, October confirms a steady stream of prohibitions that follow criminal outcomes and arrive without a penalty.
Three firms lost their authorisation
Three Final Notices cancelled Part 4A permissions.
- Startrader Pro Limited (19 October): the FCA found the firm had failed to pay overdue fees and levies despite repeated requests, and had also failed to be open and cooperative in its dealings with the FCA.
- Hebden Supply Co. (Credit Traders) Limited (27 October): the firm failed, despite repeated requests and warnings, to submit its regulatory returns, including its complaints return and several consumer credit returns.
- Leader Autos Ltd (29 October): permission cancelled for failing to pay overdue regulatory fees and levies.
What the October silence does and does not mean
A month without a fine does not mean a month without consequences, and September's cases show why October's calendar looked the way it did. Odey's penalty was due in full by 14 October, and Mr Fenech's by 1 October. Ms Dunne's instalments run until August 2029. Those payments came from the large September cluster, covered in FCA Fines September 2026, not from new decisions.
Contested matters also take time. The FCA announced decisions in the Daniel Thomas case in September and the Fuenmayor and Finch cases earlier in the year, and each has been referred to the Upper Tribunal. Until a Tribunal rules or a deadline passes, no Final Notice follows. October's quiet is partly a reflection of that queue.
The 2026 running total
| 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 |
| August | 5 | 1,113,400 |
| September | 5 | 1,875,883 |
| October | 0 | 0 |
| Year to date | 19 | 19,832,006 |
What This Means for Compliance Teams
For compliance officers, the dull obligations are the enforceable ones. Put FCA fee invoices, regulatory returns and attestations on a calendar with named owners, and check who reads the FCA's correspondence. Startrader Pro, Hebden Supply and Leader Autos each lost their permission on grounds that a diary entry would have prevented.
For firms that employ certified staff, ask what you do when an employee is convicted of any dishonesty offence. The Molloy and Burford notices show the FCA acting on convictions regardless of the sector involved.
For boards and non-executive directors, ask for a quarterly confirmation that fees are paid, returns are filed and no FCA request has gone unanswered.
Key Takeaways
- No new fine in October. The FCA's 2026 fines page lists none after 30 September, so the year's total remains 19,832,006 pounds.
- Convictions end careers. Joseph Molloy and John Burford were banned after dishonesty convictions, with no penalty attached.
- Basic breaches end authorisations. Three firms lost permission over unpaid fees, missed returns or failing to cooperate.
- Payments follow earlier decisions. The Odey penalty was due in October and the Fenech penalty on 1 October, so money changed hands without a new notice.
- Contested cases queue at the Tribunal. Several announced decisions have been referred and will not become fines until the Tribunal rules.
What Comes Next
The November tracker will pick up the November notices, including the cancellation of Adelphi Special Risks Limited. See the FCA fines 2026 topic hub for the full year, and use RegActions enforcement search to look up an individual notice.
About the Data
Figures come from the FCA's 2026 fines page, checked on 6 November 2026, whose own total of 19,832,006 pounds matches RegActions' stored records fine for fine. The monthly values were calculated twice from independent queries. The FCA page records its last update as 21 October 2026, so a fine published later in October and not yet listed cannot be ruled out. Notice dates are those stated in each notice.