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Regulatory Reform United Kingdom Financial Services Industry

A&O Shearman

HMT policy statement on the Appointed Representatives Regime: addressing key gaps and proposals for

A&O Shearman on

The appointed representatives regime has been around longer than many of us might realise, having been introduced in 1986, and so predating our beloved Financial Services and Markets Act 2000 (FSMA) by some years. No doubt,...more

A&O Shearman

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

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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

A&O Shearman

UK FCA appoints new interim chair of FOS

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The UK Financial Conduct Authority (FCA) has announced the appointment of Liam Coleman as interim Chair of the Financial Ombudsman Service (FOS), effective from 10 October...more

A&O Shearman

BoE outlines proposed approach to FMI rule permissions

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The Bank of England (BoE) has published a consultation paper on a draft statement of policy (SoP) outlining its proposed approach to permissions, waivers and supervisory processes for central counterparties (CCPs), systemic...more

Proskauer - Regulatory & Compliance

FinReg Monthly Update - August 2025

Welcome to Proskauer’s FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Proskauer - Regulatory & Compliance

Supreme Court Ruling in Hopcraft v Wrench and Johnson v FirstRand Bank

On 1 August 2025, the Supreme Court handed down its long-awaited judgment in Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd and Hopcraft & Anor v Close Brothers Ltd – reported together as [2025] UKSC 33....more

Paul Hastings LLP

UK Public Offers and Admissions to Trading Regime

Paul Hastings LLP on

The principal regulations governing offers of securities to the public and admissions of securities to trading on regulated markets in the United Kingdom, including the requirements for a prospectus, are contained in the UK...more

A&O Shearman

Mansion House: HMT and BoE announce plans for new UK retail payments model under NPV

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HM Treasury has published an update on the National Payments Vision (NPV), announcing plans to implement a new collaborative model for delivering the UK's next-generation retail payments infrastructure. The Payments Vision...more

A&O Shearman

FCA publishes final rules on POATR framework and UK Listing Rules

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The UK Financial Conduct Authority (FCA) has published final policy statement (PS25/9) to implement the new Public Offers and Admissions to Trading Regulations 2024 (POATRs), which will replace the UK Prospectus Regulation....more

A&O Shearman

FCA publishes final rules for firms operating public offer platforms

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The UK Financial Conduct Authority (FCA) has published final policy statement PS25/10, setting out the final rules for the new public offer platforms (POP) regime. This follows consultations in July 2024 and January of this...more

A&O Shearman

Mansion House: UK government publishes draft Overseas Recognition Regimes Regulations and Guidance

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Alongside its Financial Services Growth and Competitiveness Strategy, the UK government has laid before Parliament, a draft of the Financial Services (Overseas Recognition Regime Designations) Regulations 2025 (the ORR...more

A&O Shearman

UK SMCR overhaul: understanding the FCA, PRA and HM Treasury's 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

A&O Shearman

HMT publishes recommendations for Financial Market Infrastructure Committee

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HM Treasury has published a letter, dated 1 July, from the Chancellor of the Exchequer to the governor of the Bank of England (BoE) setting out the government's recommendations to the BoE's Financial Market Infrastructure...more

A&O Shearman

Mansion House: HMT consultation on FOS and joint FCA and FOS consultation on modernising the financial redress system

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HM Treasury (HMT) has published a consultation paper setting out proposed reforms to the UK Financial Ombudsman Service (FOS), in tandem with the joint UK Financial Conduct Authority and FOS consultation paper (CP25/22) on...more

A&O Shearman

Mansion House: Leeds Reforms

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HM Treasury has published a press release confirming a significant package of measures aimed at making the UK the prime destination for financial services by 2035, referred to as the "Leeds Reforms"...more

A&O Shearman

Mansion House: UK Chancellor of the Exchequer announces reform of the ring-fencing regime

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The UK Chancellor of the Exchequer has delivered a speech at Mansion House, London which heralded a large number of UK regulatory reforms with significant impact on the financial services sector. These were announced...more

A&O Shearman

Mansion House: Financial Services Growth and Competitiveness Strategy

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The UK government has published its Financial Services Growth and Competitiveness Strategy, a ten-year plan to drive growth and competitiveness in the UK financial services sector. The strategy follows a call for evidence...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

A&O Shearman

Mansion House: FSMA 2023 (Commencement No. 10 and Saving Provisions) Regulations 2025 made

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The Financial Services and Markets Act 2023 (Commencement No. 10 and Saving Provisions) Regulations 2025 have been made. The Regulations serve to implement legislative changes required in relation to the Mansion House reforms...more

Mayer Brown

FAQs on Proposed Reforms to the UK Senior Managers and Certification Regime

Mayer Brown on

The Senior Managers & Certification Regime ("SM&CR") has been a cornerstone of the UK’s individual accountability regulatory framework for banks, insurers and other regulated firms since its introduction in the wake of the...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

A&O Shearman

FCA plans to modernise client categorisation rules

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The UK Financial Conduct Authority has announced plans to review its client categorisation rules to unlock more investment opportunities for wealthy investors and support capital markets...more

Hogan Lovells

UK Mansion House 2025: What this means for digital assets and tokenisation

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The UK government’s latest communications on 15 July 2025 in connection with the Chancellor’s annual Mansion House speech, and the launch of its Financial Services Growth and Competitiveness Strategy, signals the government’s...more

Hogan Lovells

UK Mansion House 2025 and Financial Services Growth and Competitiveness Strategy: summary of key initiatives

Hogan Lovells on

The Chancellor of the Exchequer has delivered her second Mansion House speech and announced the “Leeds Reforms” in conjunction with publication of the awaited Financial Services Growth and Competitiveness Strategy and related...more

Latham & Watkins LLP

Leeds Reforms Set UK Government Agenda for Financial Services

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On 15 July 2025, the Chancellor of the Exchequer, Rachel Reeves, delivered her second Mansion House speech, having earlier that day announced the so-called Leeds Reforms to “position the UK as the number one destination for...more

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