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United Kingdom Financial Conduct Authority (FCA)

A&O Shearman

The FCA’s revised Enforcement Guide: Key policy changes to be aware of

A&O Shearman on

The UK Financial Conduct Authority (FCA) has updated its Enforcement Guide, including its revised policy on when it will announce details of enforcement investigations. Following a consultation process that was subject to...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK FCA Publishes Consultation Paper on Stablecoin Issuance and Cryptoasset Custody in the UK

Following the publication by HM Treasury of the draft legislation establishing a financial services regulatory regime for cryptoassets in the UK, on 28 May 2025 the UK Financial Conduct Authority (FCA) published Consultation...more

Proskauer - Regulatory & Compliance

Crack the Code: A guide to the UK Stewardship Code 2026

On 3 June 2025, the Financial Reporting Council (“FRC”) published its new UK Stewardship Code 2026 (the “Code”). The voluntary Code applies to asset managers, asset owners and services providers with the aim of providing...more

Mayer Brown

UK Regulatory Update - Asset Management Sector - Quarterly Newsletter Q1 2025

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Mayer Brown’s UK Regulatory Update is a quarterly newsletter for the asset management sector. In this edition, covering Q1 2025, we look at consultations relating to the UK AIFMD framework, reporting and notification...more

A&O Shearman

FCA updates to requirements, limitations and directions

A&O Shearman on

The UK Financial Conduct Authority (FCA) has announced updates to the requirements, directions and limitations applied to firms. This follows a review which identified that certain data was out of date, superseded by new...more

A&O Shearman

FCA consults on stablecoin issuance and custody of cryptoassets

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published consultation paper CP25/14 (CP) on stablecoin issuance and cryptoasset custody, accompanied by an updated webpage. This follows the FCA's discussion paper published in...more

A&O Shearman

FCA consults on proposed prudential regime for cryptoasset firms

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published consultation paper CP25/15 on its proposed prudential regime for cryptoasset firms, also accompanied by an updated webpage. This is intended to be read together with...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

Ropes & Gray LLP

The FCA Has Revamped its Enforcement Guide – Here’s What You Should Know

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On Tuesday the UK’s Financial Conduct Authority (FCA) issued an updated version of its Enforcement Guide, which will now be referred to as ‘ENFG’ in the FCA Handbook, to distinguish it from the previous version. The ENFG is...more

A&O Shearman

New FCA webpages on PISCES

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The UK Financial Conduct Authority (FCA) has published two new webpages on the Private Intermittent Securities and Capital Exchange Systems (PISCES) sandbox, a new type of trading platform designed to enable intermittent...more

BCLP

UK Corporate Briefing - June 2025

BCLP on

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

Latham & Watkins LLP

FCA Publishes Final Policy Position on Announcing Enforcement Investigations

Latham & Watkins LLP on

The regulator has dropped its proposed “public interest” test, but will take certain aspects of its proposals forwards. On 3 June 2025, the FCA published its final policy (PS25/5) on announcing enforcement...more

Ropes & Gray LLP

FCA Extends Investment Research Payment Optionality to Fund Managers

Ropes & Gray LLP on

Last month the Financial Conduct Authority (FCA) set out its final rules related to the application of investment research payment optionality to fund managers. This move follows its consultation paper late last year which...more

Orrick, Herrington & Sutcliffe LLP

PISCES: Hook, Line and Secondary Market

The Financial Conduct Authority (FCA) is aiming to bridge private and public markets with the Private Intermittent Securities and Capital Exchange System (PISCES). Only shares in unlisted UK-incorporated companies will be...more

A&O Shearman

FCA Handbook Notice 130

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published Handbook Notice 130, which outlines updates to the FCA Handbook, including changes for fund managers stemming from the recommendations of the Investment Research Review...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent Funds, Legal, and Regulatory Developments to Look out for in the coming...

Goodwin on

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

Hogan Lovells

UK: The Bank Resolution (Recapitalisation) Act 2025

Hogan Lovells on

The Bank Resolution (Recapitalisation) Act 2025 (Act) received Royal asset on 15 May 2025. Although deceptively short and dependant on the passing of further regulations in order to come into effect, it introduces significant...more

Hogan Lovells

UK: FCA consults on a prudential regime for cryptoasset firms

Hogan Lovells on

As part its ongoing programme of consulting on elements of the new regulatory regime for cryptoassets, the FCA has published Consultation Paper CP25/15: “A prudential regime for cryptoasset firms”, and is inviting feedback...more

Hogan Lovells

UK: FCA consults on stablecoin issuance and cryptoasset custody rules

Hogan Lovells on

The UK’s Financial Conduct Authority (FCA) is consulting on draft rules relating to the issuance of stablecoins in the UK and on custody of cryptoassets. What has happened? On 28 May 2025, the FCA published a Consultation...more

Mayer Brown

Pension Megafunds and Mandated Asset Allocation – The Government Confirms its Plans

Mayer Brown on

The government has published the Final Report of its Pensions Investment Review, together with a response to its consultation on unlocking the UK pensions market for growth. These confirm that the government will proceed with...more

A&O Shearman

FCA publishes consultation on streamlining complaints data reporting

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a consultation paper (CP25/13), with a press release and updated webpage, proposing the improvement of complaints reporting process as part of its five-year strategy to...more

Goodwin

Gaining Access to UK Pension Investors: Key Questions for Private Fund Managers

Goodwin on

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

A&O Shearman

HMT consults on Consumer Credit Act Reform – Phase 1

A&O Shearman on

HM Treasury (HMT) has published Phase 1 of its two-part consultation on reforming the Consumer Credit Act 1974 (CCA), accompanied by an updated webpage. The proposals aim to modernise the CCA to better align with new...more

A&O Shearman

UK Government advances BNPL Regulation

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HM Treasury (HMT) has published a response to its 2024 consultation on regulating Buy-Now, Pay-Later (BNPL) products and laid the draft secondary legislation (Financial Services and Markets Act 2000 (Regulated Activities etc)...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Announces New Regime To Regulate ‘Buy-Now, Pay-Later’ Lending Following October 2024 Consultation

In October 2024, HM Treasury (HMT) published a consultation paper amid perceived concerns related to the “buy now, pay later” (BNPL) sector, including uninformed consumer decisions, affordability checks and levels of...more

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