On 15 July 2025, Chancellor of the Exchequer Rachel Reeves delivered her Mansion House 2025 speech unveiling the Leeds Reforms, a programme for financial services reforms to drive investment and growth in the sector....more
7/23/2025
/ AIFM ,
Asset Management ,
Capital Markets ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
FSMA ,
HM Treasury ,
Investment Funds ,
Investment Management ,
Popular ,
Private Funds ,
Private Investment Funds ,
Prudential Regulation Authority (PRA) ,
Prudential Standards ,
Regulatory Reform ,
SMCR ,
UK
In a previous alert, “FCA D&I Standards for Large Firms Abandoned (for now), Non-financial Misconduct Rules Delayed (but Still Important),” we discussed the proposals put forward by the UK Financial Conduct Authority (FCA)...more
7/8/2025
/ Banking Sector ,
Code of Conduct ,
Consultation ,
Corporate Misconduct ,
Employee Misconduct ,
Financial Conduct Authority (FCA) ,
FinTech ,
Fund Managers ,
Investment Funds ,
New Guidance ,
Private Funds ,
Proposed Guidance ,
SMCR ,
UK
In this horizon scan for private investment funds, which is aimed at managers based in Europe, we have set out the some of the principal legal and regulatory-focused developments to look out for in the coming months....more
We have written about the opportunities for the managers of private funds, such as private equity, real estate, venture, and infrastructure managers, to increase the investor base for the funds they manage (funds) to include...more
5/29/2025
/ Defined Contribution Plans ,
Financial Conduct Authority (FCA) ,
Fund Managers ,
Investment Funds ,
Long-Term Investment Funds ,
MiFIR ,
Pension Schemes ,
Pensions ,
Private Equity ,
Professional Investors ,
Regulatory Requirements ,
Retirement Plan ,
UK
In our previous alert Paying for Buy-Side Investment Research: New Rules Ease the US-UK Divide | Insights & Resources | Goodwin we discussed the Financial Conduct Authority (FCA) final rules in its policy paper PS24/9:...more
5/15/2025
/ Broker-Dealer ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Fund Managers ,
Investment Funds ,
Investment Management ,
MiFID II ,
New Rules ,
Regulatory Requirements ,
Securities Regulation ,
UK
In our recent alert “Properly Valuing Private Equity, Venture, Real Estate, and Other Private Market Assets: Some Pointers for UK and EU Managers”, we discussed the Financial Conduct Authority’s (FCA’s) focus on fund...more
4/10/2025
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Consultation ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Fund Managers ,
HM Treasury ,
Investment Funds ,
Private Funds ,
Proposed Rules ,
Regulatory Reform ,
UK ,
Venture Capital
On 26 February 2025, the Financial Conduct Authority (FCA) published a portfolio letter (Letter) explaining its supervision priorities for the asset management and alternatives portfolios....more
3/3/2025
/ Asset Management ,
Consumer Financial Products ,
Due Diligence ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Fund Managers ,
Investment Funds ,
Know Your Customers ,
Market Abuse ,
Portfolio Companies ,
Private Equity ,
Private Funds ,
Risk Management ,
Supervision ,
Sustainable Finance ,
UK
On 14 November 2024, Chancellor Rachel Reeves delivered her inaugural Mansion House 2024 speech, announcing a collection of reforms designed to drive growth and competitiveness in the financial services sector....more
11/21/2024
/ Economic Growth ,
Financial Regulatory Reform ,
Fund Managers ,
MiFID II ,
Pensions ,
Private Funds ,
Privately Held Corporations ,
Senior Management Regime (SMR) ,
Senior Managers ,
Sustainable Finance ,
Trading Platforms ,
UK
In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and...more
11/6/2024
/ Artificial Intelligence ,
Bank of England ,
Banking Sector ,
Banks ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
FinTech ,
Machine Learning ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
Risk Mitigation ,
UK
Welcome to the third edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect...more
11/1/2024
/ Corporate Governance ,
Disclosure Requirements ,
Economic Sanctions ,
EU ,
Financial Crimes ,
Fund Managers ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Private Funds ,
Regulatory Requirements ,
SFDR ,
Sustainable Finance ,
UK
In our previous alert, Paying for Buy-Side Investment Research: Will the FCA’s Third Way Ease the US-UK Divide?, we discussed the consultation issued by the Financial Conduct Authority (FCA) on proposed rules on payment...more
7/30/2024
/ AIFM ,
Amended Rules ,
Broker-Dealer ,
False Claims Act (FCA) ,
Investment Adviser ,
Investment Management ,
Listing Rules ,
MiFID II ,
No-Action Letters ,
Proposed Rules ,
Research Funding ,
Securities and Exchange Commission (SEC) ,
UK
The Pension Schemes Bill announced in the King’s Speech on 17 July builds on the UK Government’s drive to encourage defined contribution (DC) pension investment in long-term illiquid investments such as private equity,...more
Welcome to the second edition of our Horizon Scan for 2024: key recent and expected funds, regulatory, and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more
5/24/2024
/ Climate Change ,
Cross-Border ,
Disclosure Requirements ,
EU ,
False Claims Act (FCA) ,
Fund Managers ,
Investment Funds ,
Private Funds ,
Private Investment Funds ,
Regulatory Standards ,
Reporting Requirements ,
SFDR ,
Sustainability ,
Sustainable Business Practices ,
Sustainable Finance ,
Transitional Arrangements ,
UK
On 10 April 2024, the Financial Conduct Authority (FCA) published a Consultation Paper on payment optionality for investment research (CP24/7). CP24/7 followed the UK Investment Research Review, in which recommendations were...more
4/29/2024
/ AIFM ,
Broker-Dealer ,
Brokers ,
Consultation ,
Financial Conduct Authority (FCA) ,
Investment ,
Investors ,
Market Research ,
Proposed Rules ,
Research Funding ,
Securities and Exchange Commission (SEC) ,
UK
In our previous alert The FCA’s Sustainability Disclosure Requirements and Labelling Regime (SDR): A Flexible Regime for UK Private Fund Managers, we examined the final framework under policy statement PS23/16, on...more
4/26/2024
/ AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Climate Change ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Greenwashing ,
Investment Management ,
Portfolio Companies ,
Portfolio Managers ,
Sustainability ,
Sustainable Business Practices ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK
On 6 March 2024, following the Chancellor’s budget statement, the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment and Transitional Provision) Order 2024 (SI 2024/301) (the March Amendment) was...more
Welcome to the first edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more
2/1/2024
/ Consumer Financial Contracts ,
Corporate Governance ,
Decentralized Finance (DeFi) ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
European Securities and Markets Authority (ESMA) ,
Financial Regulatory Reform ,
Germany ,
Green Finance ,
Greenwashing ,
Investment Funds ,
IOSCO ,
Long-Term Investment Funds ,
Open-Ended Fund Companies (OFCs) ,
Securities and Exchange Commission (SEC) ,
Sustainable Business Practices ,
Sustainable Finance ,
UK ,
Venture Capital
On 7 December 2023, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint consultation paper titled ”CP26/23 - Operational resilience: Critical third parties to the UK financial...more
In our previous alert, The Sustainability Disclosure Requirements and Investment Labels Rules: Tougher ESG Standards for UK Private Fund Managers, we discussed the Financial Conduct Authority (FCA) October 2022 consultation...more
We wrote on the impact of changes to the financial promotion rules that came into effect earlier this year. On 7 November 2023, the UK Government published the proposed changes to the Financial Promotion Order 2005 (FPO). The...more
In our previous alert, we discussed the emerging trends for regulating artificial intelligence (AI) in financial services and mentioned a joint paper published by the Prudential Regulation Authority (PRA) and Financial...more
In our previous alert, we noted the speech made by Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), which built on the points made in a joint paper published by the Bank of England (BoE) and FCA on artificial...more
10/12/2023
/ Artificial Intelligence ,
Bank of England ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Information Reports ,
Joint Statements ,
Machine Learning ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
Risk Management ,
UK
On 25 September, the Financial Conduct Authority (FCA) published its consultation paper CP23/20: Diversity and inclusion in the financial sector – working together to drive change alongside a similar consultation paper...more
On 12 July 2023, the UK Financial Conduct Authority (FCA) published Feedback Statement 23/4: The potential competition impacts of Big Tech entry and expansion in retail financial services (FS23/4). This summarised the...more
Following its August 2022 consultation on the broader retail distribution of interests in a Long Term Asset Fund (LTAF), the FCA published its Policy Statement PS23/7 including final Handbook rules on 29 June 2023....more