News & Analysis as of

Exemptions Regulatory Reform United Kingdom

Morrison & Foerster LLP

Potential Reforms to the UK Investment Screening Regime

On 22 July 2025, as part of a longstanding commitment to refine the UK’s investment screening regime to reduce burden on business, the UK government announced plans to introduce limited exemptions to the mandatory filing...more

A&O Shearman

HMT publishes revised policy approach to ancillary activities exemption

A&O Shearman on

HM Treasury (HMT) has published a policy note and draft statutory instrument on the ancillary activities exemption, which is an exemption (originally introduced in the revised EU Markets in Financial Services Directive) from...more

A&O Shearman

FCA Handbook Notice 129

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published Handbook Notice 129 which sets out changes to the classes of derivatives subject to the derivatives trading obligation (DTO), following policy statement PS25/2 published...more

A&O Shearman

U.K. regulators seek to improve margin requirements for non-centrally cleared OTC derivatives

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The U.K. Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) recently launched a joint consultation on proposed amendments to the margin requirements for non-centrally cleared derivatives.1...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Targets Reform of the Investment Manager Exemption

On 28 April 2025, the UK government published draft legislative amendments to: - Align the UK’s domestic tax rules on permanent establishments (PE) with the 2017 Organisation for Economic Co-operation and Development (OECD)...more

A&O Shearman

UK FCA policy statement on the DTO and PTRR services

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The UK Financial Conduct Authority (FCA) has published its policy statement (PS25/2) with final rules on the classes of derivatives subject to the derivatives trading obligation (DTO) and the new framework for the exemptions...more

A&O Shearman

UK regulators consult on changes to margin requirements for non-centrally cleared derivatives

A&O Shearman on

The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have opened a consultation on margin requirements for non-centrally cleared derivatives. The proposals are to: - Make permanent the current...more

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