The Financial Conduct Authority (FCA) has published a revised Enforcement Guide (ENFG) and associatedinstruments, which come into effect on 3 June 2025. This revision incorporates feedback on earlier proposals and aims to provide greater transparency regarding enforcement investigations. Key changes include a revised publicity policy for investigations, specific approaches to investigating unauthorised activity and individuals, and clarifications on the use of various statutory powers. The revised guide is abbreviated to ENFG and replaces the previous version.