News & Analysis as of

United Kingdom Financial Regulatory Reform Financial Services and Markets Act

A&O Shearman

HMT sets out approach to updating the UK's regulatory framework for CCPs

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HM Treasury has published a policy paper and two related statutory instruments (SI) on its approach to updating the UK's regulatory framework for central counterparties (CCPs). The Financial Services and Markets Act 2023 gave...more

A&O Shearman

Regulations establishing PISCES sandbox published

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The UK Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025 were published, alongside an explanatory memorandum. The Regulations largely reflect the...more

A&O Shearman

HM Treasury publishes draft order for cryptoasset regulation

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The HM Treasury (HMT) has published a draft of The Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, together with an accompanying policy note... ...more

A&O Shearman

Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment)...

A&O Shearman on

The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 has been published alongside an explanatory memorandum. The Order amends the...more

A&O Shearman

Draft Regulations on the UK Designated Activities Regime

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A draft version of the Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2024, together with an explanatory memorandum, have been laid before Parliament. The designated...more

A&O Shearman

UK Grants Equivalence to EEA UCITS Under Overseas Funds Regime

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The Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024 (SI 2024/635) were made on May 13, 2024 and enter into force on July 16, 2024. Established by the...more

Cadwalader, Wickersham & Taft LLP

Changes to the UK Financial Promotions Rules

The UK’s Treasury has published its consultation response on “Financial promotion exemptions for high net worth individuals and sophisticated investors” alongside the draft Statutory Instrument making the relevant changes....more

A&O Shearman

UK Government Sets Out Plan for Revoking EU Financial Services Laws

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Following finalization of the Financial Services and Markets Act 2023, HM Treasury published a Delivery Plan for the Building a Smarter Financial Services Regulatory Framework for the UK. The Delivery Plan compliments the...more

A&O Shearman

A Boost for U.K. Financial Services - The U.K. Financial Services and Markets Act 2023

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The U.K.’s newest Financial Services and Markets Act of 2023 (“FSM Act”) received Royal Assent on 29 June 2023. Certain parts came into force on its passing, others will come into effect two months after that, and the...more

Akin Gump Strauss Hauer & Feld LLP

Beginning of the End of EU Law in the UK?

The Financial Services and Markets Act 2023 (“FSMA 2023”) marks a watershed moment in British legislative history. FSMA 2023 introduces sweeping changes to the financial services regulatory infrastructure and will have a...more

A&O Shearman

The UK’s Financial Services Bill – Proposed Amendments Towards Enhanced Accountability for Financial Regulators

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A detailed set of amendments to the Financial Services and Markets Bill (FSMB) were tabled by Lord Lilley on 23 January 2023, promoting enhanced accountability for the U.K.’s financial regulators.[1] These comprise the result...more

Latham & Watkins LLP

The “Edinburgh Reforms”: Timetable of Key Changes

Latham & Watkins LLP on

The timetable sets out three tranches of extensive regulatory changes to UK and EU law in 2023 and 2024. The “Edinburgh Reforms”, a series of announcements made on 9 December 2022 by the Chancellor of the Exchequer, set...more

Hogan Lovells

UK Financial Services Future Regulatory Framework Review: HM Treasury publishes proposals for reform

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HM Treasury has published its long awaited Future Regulatory Framework (FRF) Review consultation with proposals for reforms to the UK’s financial services regulatory framework to keep it fit for the future and to reflect the...more

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