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FPPP post-mortems24 September 2026

Where the procedures failed, and what would have caught it

A casebook, not a news feed. Each entry takes a case where a regulator, a court or the company itself has said that financial position and prospects procedures fell short, and names the criterion in the pack whose evidence test addresses it.

Archived edition — a finding may have been appealed or overturned since. Read the current one

The takeaway

The week's public record contained no concluded finding, by any authority, that a listed company's financial position and prospects procedures fell short. The only eligible case is a company's own announcement of a delayed interim results publication, which speaks to the reporting timetable rather than to any adjudicated procedural failure.

  • There were no FCA final notices in the period relating to a listed or recently-listed company's financial reporting procedures.
  • No FRC investigation or sanction concluding in the period names a listed company's FPPP procedures, so nothing from the FRC index can be used.
  • A delay in publishing interim results is a reporting-timetable failure the company has itself disclosed; on its own it does not establish that the FPPP procedures were inadequate, and we do not say that it does.
  • Profit warnings and trading updates on the newswire, including those from companies admitted recently, are not eligible: no authority has attributed the change in expectations to a procedures failure.

Cases published 18 to 24 September 2026 · mapped to the criteria that address them

This edition of the FPPP post-mortems looks for cases where an authority or the company itself has stated that financial position and prospects procedures fell short, or where a restatement, material weakness, suspension for late accounts or near-admission profit warning has been disclosed. The search covered the FCA news and publications feeds, the FRC news index and the UK regulatory newswire for the period since 18 September 2026, plus older cases not previously covered. Almost nothing on this week's list is eligible. The FCA items are speeches, consumer-protection and financial-crime work, crypto perimeter guidance, and enforcement against individuals and firms outside the listed-company perimeter: none of them makes a finding about a listed company's FPPP procedures. The FRC index items are page furniture rather than concluded sanctions we can cite. The company announcements are routine trading updates, interim and annual reports, placings and AGM notices. One item concerns a company's failure to publish its interim results on time, which is a disclosure and reporting failure the company has itself announced. No entry here rests on a share-price move, a profit warning or a resignation, and no entry makes any allegation against a sponsor, reporting accountant or auditor.

Searched: the FCA news and publications feeds for 18 to 23 September 2026, the FRC news index, and the UK regulatory newswire for 18 to 23 September 2026. Found quiet: no FCA final notice, no concluded FRC sanction and no market announcement in the window states that a listed company's financial position and prospects procedures failed. The FCA material is consumer, payments, crypto-perimeter and financial-crime work, plus enforcement against individuals and unlisted firms. The FRC index returned navigation pages rather than citable sanction detail. The company announcements were routine. The result is a single entry, drawn from a company's own statement, and that is the correct length for this edition rather than a padded one.

1. Interim results not published by the date the listing rules require

Supply@ME Capital plc announced on 22 September 2026 that publication of its interim results for the first half of 2026 would be delayed. The announcement is the company's own statement; no regulator has issued a finding against it in the material before us. A delay in publishing half-year results engages the listed-company obligation to publish interim financial information within the period the rules set, and the same obligation sits alongside the requirement under UKLR 24.3.2R(5) that a company have procedures in place that give it and its advisers the ability to make a proper assessment of its financial position and prospects. Where a company's own announcement shows it cannot meet the interim publication timetable, the practical question for a CFO or company secretary is whether the procedures and the financial reporting systems behind them were capable of producing a complete set of numbers on time. We record only that the company stated publication would be delayed; we make no finding on the cause.

What would have caught it: A reporting calendar test: map every periodic financial reporting deadline under the listing rules back to the internal close, review and sign-off steps that produce the numbers, and confirm that each step has a named owner and a date. A timetable that has no float and no escalation route for a missed close is the test's failure point.

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Sources

It was found in their procedures. Is it open in yours?

Every case above names the criteria it touches. The free scan walks 15 of the 73 across all nine FPPP areas, checks your answers against each other, and tells you where they contradict. It runs entirely in your browser — nothing is sent anywhere, and nothing is stored.

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Published Thursdays. This is a casebook rather than a news feed: an older case that has not been covered is as welcome as a recent one. Compiled from public regulatory notices, court judgments and companies’ own announcements, and cited to them. It is not legal advice, not investment advice, and not a comment on any company’s prospects or securities.