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Financial Regulatory Reform Prudential Regulation Authority (PRA) Financial Conduct Authority (FCA)

A&O Shearman

UK Senior Managers and Certification Regime overhaul: understanding proposals for reform

A&O Shearman on

Since its inception in 2016, the Senior Managers and Certification Regime (SMCR) has served as a cornerstone of the UK’s financial services regulatory landscape, designed to enhance individual accountability and raise...more

Skadden, Arps, Slate, Meagher & Flom LLP

HM Treasury and UK Regulators Announce Wave of Reforms

- What is new: HM Treasury and the UK regulators announced a package of financial services reforms on 15 July 2025, including cross-cutting reforms in the regulatory environment, significant changes to the SMCR regime, a...more

Cadwalader, Wickersham & Taft LLP

Global Moves, Digital Shifts, July 2025 - UK Government Announces Programme of Regulatory Reforms

On July 15th, the UK Government published the final version of its Financial Services Growth and Competitiveness Strategy (the Strategy). The Strategy aims to “[roll] back regulation that had gone too far in seeking to...more

Goodwin

Further Reform for UK Private Fund Managers: The Government’s Road Map for Growth in Financial Services

Goodwin on

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

Hogan Lovells

UK’s Financial Services Growth and Competitiveness Strategy: Welcome news for insurers

Hogan Lovells on

The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more

A&O Shearman

Draft Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 published

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The draft Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 has been laid before the UK Parliament under the Financial Services and Markets Act 2023 (FSMA 2023), together with a draft explanatory...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more

A&O Shearman

UK 2025 Regulatory Initiatives Grid published

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The Financial Services Regulatory Initiatives Forum (the Forum) has published the Regulatory Initiatives Forum Grid (the Grid), with the UK Financial Conduct Authority (FCA) also updating its webpage. The previous Grid was...more

A&O Shearman

UK bankers' remuneration reform: proposed relaxation of deferral and retention rules in focus

A&O Shearman on

PRA and FCA proposals to simplify bankers’ remuneration rules would relax certain key restrictions on bankers’ variable pay, giving banks more flexibility in remuneration design and improving their recruitment potential....more

Hogan Lovells

FCA Annual Work Programme 2025/26: A work plan reflecting the UK government’s pro-growth mission

Hogan Lovells on

Motor finance, mortgage rule review work and Consumer Duty feature prominently in the work plans for this strategic priority. Firms should note that the FCA includes a warning in relation to the Duty that, where necessary, it...more

A&O Shearman

UK Treasury policy paper on ensuring regulators and regulation support growth updated

A&O Shearman on

The HM Treasury (HMT) has updated its policy paper on its new approach to ensure regulators and regulations support growth. The paper was originally published on 17 March...more

A&O Shearman

UK HMT publishes draft SI on UK MiFID Org Reg

A&O Shearman on

HM Treasury (HMT) has published a new webpage with a draft statutory instrument (SI) and policy note on the UK Markets in Financial Instruments Directive Organisational Regulation (UK MiFID Org Reg)... ...more

Hogan Lovells

The government’s Action Plan for regulators – a new approach?

Hogan Lovells on

The government has published a policy paper containing an Action Plan for “A new approach to ensure regulators and regulation support growth”. The Action Plan shows a shift in approach towards regulation (including, but not...more

BCLP

Recent Updates to the FCA’s and PRA’s “To Do” List - An Action Plan for Growth, Simplification, and Reform

BCLP on

We love a “to do” list! So, following a flurry of announcements from the FCA and publication of the Treasury’s Action Plan aimed at overhauling the current regulatory landscape, what is on the financial regulators’ “to do”...more

A&O Shearman

FCA speech on approach to NBFI leverage

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a speech by Sarah Pritchard, executive director of consumers, competition and international, on the FCA's approach to non-bank financial intermediation (NBFI) leverage....more

Proskauer Rose LLP

Regulation Round Up - February 2025

Proskauer Rose LLP on

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

A&O Shearman

UK bankers' remuneration reform: individual accountability

A&O Shearman on

The PRA and FCA have proposed new rules to integrate the UK’s remuneration regime and accountability regime under the SMCR more closely, including a requirement for firms to consider adjusting MRTs’ variable pay (using malus...more

A&O Shearman

UK regulatory reform: Emphasising individual accountability through remuneration

A&O Shearman on

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are considering ways to enhance individual accountability, particularly among Senior Managers, by more fully integrating the regulatory...more

A&O Shearman

UK Prudential Regulation Authority response to HM Treasury November 2024 letter on remit and recommendations

A&O Shearman on

HM Treasury has published a letter (dated December 18, 2024) from Andrew Bailey, BoE Governor, in his role as Chair of the Prudential Regulation Committee. In the letter, Mr Bailey sets out the response of the PRC to HMT's...more

A&O Shearman

UK bankers’ remuneration reform: MRT proposals in focus

A&O Shearman on

PRA and FCA proposals to revamp bankers’ remuneration rules would reduce the number of in-scope material risk takers (MRTs), while enabling more MRTs to benefit from proportionality exclusions. Banks would have greater...more

A&O Shearman

UK Financial Conduct Authority portfolio letter on supervisory strategy for wholesale brokers

A&O Shearman on

The U.K. Financial Conduct Authority has published a Dear CEO Letter on its new strategy for supervising wholesale brokers. The FCA has observed a change in the sector in recent years with larger firms acquiring smaller ones...more

A&O Shearman

New U.K. regulatory landscape: enforcement and supervision shift

A&O Shearman on

This article examines the latest trends in U.K. regulatory enforcement and supervisory action and highlights the key takeaways for firms in 2025 and beyond. Over the past 18 months, the Financial Conduct Authority (FCA)...more

A&O Shearman

Operational Incident Reporting: UK Financial Regulators Propose New Rules

A&O Shearman on

The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England are consulting on proposals to require firms to report operational incidents and material third party arrangements. In the face...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - December 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more

A&O Shearman

Regulatory monitoring - December 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more

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