Financial Conduct Authority launches call for input on how FCA regulation affects SMEs’ access to finance

The Financial Conduct Authority has opened an engagement to gather views on how its regulation can better support small and medium-sized enterprises’ access to finance, with the findings intended to inform its regulatory approach and prioritisation of future work under its growth priority. Potential outcomes include reviewing FCA rules or clarifying specific requirements, with any specific proposals to be tested through consultation. The work covers SME finance across debt, equity, hybrid and alternative models, focusing on products and services within the FCA’s remit while also considering how FCA regulation affects FCA-regulated firms that offer services to SMEs outside the regulatory perimeter. Areas of interest include regulatory barriers that raise the cost or perceived risk of providing SME finance, opportunities for future regulation including industry collaboration and the use of innovation and new technology, sector-specific access issues including for high-growth sectors, future trends such as open finance, and lessons from international approaches through commissioned research. The FCA positions this work as complementary to Treasury and Bank of England initiatives on access to finance for high potential growth firms and to the Department for Business and Trade’s call for input on SME finance barriers. Views are sought from SMEs and from providers and distributors of SME finance by 17 April 2026. The FCA plans direct engagement with SME representatives and trade associations in March 2026, a stakeholder roundtable in May 2026, and a summary of insights and next steps later in 2026.