News & Analysis as of

Securities Regulatory Requirements United Kingdom

A&O Shearman

BoE consults on future regulatory framework for CCPs

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The Bank of England (BoE) has published a consultation paper titled "Ensuring the resilience of CCPs" as part of a broader package of reforms aimed at strengthening the UK's regulatory framework for central counterparties...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

UK Mansion House 2025: UK government supports digitisation of UK shareholding framework

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The Digitisation Taskforce has published its final report, recommending a three-step plan to modernise the UK shareholding framework by eliminating paper share certificates and transitioning to a fully digitised and...more

Mayer Brown

UK Regulatory Update Asset Management Sector - Quarterly Newsletter Q2 - 2025

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FCA finalises rules for PISCES – new secondary private stock market – On 10 June 2025, the FCA issued its final rules for the Private Intermittent Securities and Capital Exchange ("PISCES"). PISCES is a new type of private...more

White & Case LLP

FCA’s final rules for PISCES: London’s new private share trading market

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The Financial Conduct Authority ("FCA") has published its final rules for the Private Intermittent Securities and Capital Exchange System ("PISCES") – London's new private company share trading platform. The proposals are a...more

Paul Hastings LLP

UK Equity Capital Markets Insights — June 2025

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In this edition of UK Equity Capital Markets Insights, we report on the coming into force of regulations to create the PISCES secondary trading market and the launch of a commission to evaluate the ongoing role of the...more

BCLP

UK Corporate Briefing - June 2025

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Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...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

FCA update on PISCES and pre-application support

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The UK Financial Conduct Authority (FCA) has published an update on the Private Intermittent Securities and Capital Exchange System (PISCES) sandbox, following the consultation in December 2024 (CP24/29). PISCES will be a new...more

A&O Shearman

UK government and regulators support the UK's move to T+1

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Representatives of the UK government and regulators spoke at the UK T+1 Accelerated Settlement Market industry event to confirm their support of the UK's move to a T+1 settlement cycle. The Economic Secretary to the Treasury...more

A&O Shearman

UK Dormant Assets Parliamentary Review 2025 published

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The UK government's Department for Culture, Media and Sport has published the Dormant Assets Parliamentary Review for the period from February 2022 to February 2025 in accordance with the Dormant Assets Act 2022. The review...more

A&O Shearman

UK Financial Conduct Authority Publishes Short Selling Update

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The U.K. Financial Conduct Authority has provided an update on the notification and disclosure of net short positions. Firstly, the FCA is currently undertaking its biannual review of the U.K. List of Exempted Shares, which...more

A&O Shearman

UK Securitisation (Amendment) (No. 2) Regulations 2024 Published

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The Securitisation (Amendment) (No. 2) Regulations 2024 were published on legislation.gov.uk, alongside an explanatory memorandum. At present, U.K. investors in U.K. - or EU-origin Simple, Transparent, and Standardised...more

A&O Shearman

HM Treasury Publishes Consumer Composite Investments (Designated Activities) Regulations 2024

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The Regulations: (i) replace assimilated law in relation to the Packaged Retail and Insurance-based Investment Products Regulation, establishing a new legislative framework for the regulation of Consumer Composite...more

A&O Shearman

International Organization of Securities Commissions Publishes Report on Transition Plan Disclosures

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The International Organization of Securities Commissions has published a report on transition plan disclosures. The report sets out how transition plan disclosures can support the objectives of investor protection and market...more

A&O Shearman

Mansion House: UK Government Finalizes PISCES Policy

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In its consultation response, the government notes that the proposal to establish a PISCES Sandbox was well received as an appropriate way to develop and test this new regulatory regime. The government confirms that it will...more

A&O Shearman

Mansion House 2024

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Rachel Reeves, the U.K. Chancellor has set out a package of reforms in her Mansion House speech. The reforms aim to drive growth and competitiveness in financial services. Ms. Reeves stated that the regulatory changes...more

A&O Shearman

Draft UK Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 Published

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The draft Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 have been published, together with an explanatory memorandum. The Regulations make transitional amendments to...more

A&O Shearman

UK Conduct Authority Clarifies Forbearance for Investment Trust Disclosure Requirements Under PRIIPs Regulation

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The updated forbearance statement provides great clarity on the implication of the forbearance as regards compliance by firms with other rules and regulations, including the Consumer Duty and communicating to consumers. The...more

A&O Shearman

Financial Conduct Authority Consults on Rules for Admission of Securities to UK Trading Platforms

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The Financial Conduct Authority has opened a consultation on proposed rules for companies seeking to admit securities to a U.K. regulated market or "primary" multilateral trading facility under the new Public Offers and...more

A&O Shearman

New UK Securitization Regime Set to Start on November 1, 2024

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The Securitisation (Amendment) Regulations 2024 were made on May 22, 2024 and come into force for the most part on November 1, 2024. The Amending Regulations supplement the new U.K. securitization regime established under the...more

A&O Shearman

UK Publishes Draft Securitisation (Amendment) Regulations 2024

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The draft Securitisation (Amendment) Regulations 2024 were published on April 22, 2024. In combination with the Securitisation Regulations (S.I. 2024/102), the draft Regulations will provide the U.K.'s new regulatory...more

BCLP

The Share Trading Obligations – A New Year’s Mess

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Diverging approaches to Share Trading Obligations from the FCA and ESMA pose challenges for investment firms in a post-Brexit Europe. With 1 January 2021 creeping closer and the hope of securing an effective Brexit deal...more

Latham & Watkins LLP

Private Bank Briefing: Issues Impacting the Private Bank Sector - December 2020

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Ahead of the end of the Brexit transition period, on 31 December 2020, regulators in the UK and the EU have issued a number of updates: Share trading obligation - In relation to the potential conflict between the share...more

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