The Financial Conduct Authority (FCA) announced practical steps to make it easier for small and medium-sized enterprises (SMEs) to access finance. A review by the FCA found that its regulation is not a major barrier, but identified challenges for microbusinesses, including limited awareness of options, complex application processes, and duplicated checks. The FCA will focus on supporting a more proportionate regulatory regime through Consumer Credit Act reform, unlocking the benefits of open finance (prioritizing SME lending), and monitoring industry work on digital verification to reduce customer check duplication.