OE-M07: Number of new entrants, exits from UK market, for each sector
Total cancellation cases approved (proxy for firm exits): 3,432 in 25/26 (this compares to 5,140 in 23/24, and 4,530 in 2024/25)
Cancellations cannot be split by sector as firms often operate in multiple sectors and may cancel all permissions at the same time.
Table: New firm authorisations (proxy for new entrants) 2025/26
| Sector | New Firms |
|---|---|
| Credit and Lending | 589 |
| Payment Services / E-Money | 45 |
| Banking | 1 |
| Insurance | 102 |
| Consumer Investments | 67 |
| Crypto (5MLD) | 14 |
| 4MLD | 188 |
| Wholesale | 106 |
| Total | 1,112 |
The best indicator of new firm entry is the number of new firm authorisations in each sector.
This excludes appointed representatives (ARs), as we receive notifications from them instead of authorisation applications.
The figure include existing firms that set up a new subsidiary before transferring their operations. It also includes firms authorised following changes to the FCA’s perimeter.
3 year comparison
Table: New firm authorisations (proxy for new entrants)
| Sector | Year | ||
|---|---|---|---|
| 2023/24 | 2024/25 | 2025/26 | |
| Credit and Lending | 603 | 598 | 589 |
| Payment Services / E-Money | 39 | 19 | 45 |
| Banking | 3 | 5 | 1 |
| Insurance | 148 | 87 | 102 |
| Consumer Investments | 74 | 59 | 67 |
| Crypto (5MLD) | 6 | 4 | 14 |
| 3/4MLD | 150 | 213 | 188 |
| Wholesale | 149 | 124 | 106 |
| Total | 1,172 | 1,109 | 1,112 |
Source: FCA data
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