News & Analysis as of

United Kingdom Regulatory Reform

K&L Gates LLP

Europe: UK FCA Plans to Streamline UK Sustainability Reporting

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Following a multi-firm review of sustainability reporting, the FCA has announced that it is considering how to streamline and enhance the UK’s sustainability reporting framework by simplifying disclosures, easing unnecessary...more

Hogan Lovells

Virgin Media: resolution in sight for UK Pensions

Hogan Lovells on

The government has today published amendments to the Pension Schemes Bill to allow the retrospective validation of amendments which may have otherwise been invalid, following the Court of Appeal's decision in the Virgin Media...more

A&O Shearman

UK FCA Continues to Simplify Supervisory Communications

A&O Shearman on

The UK Financial Conduct Authority (FCA) has confirmed further steps to simplify its supervisory communications, building on its April announcement and aligning with its Consumer Duty Requirements Review. The FCA confirms it...more

Hogan Lovells

Papers Please: Identity verification requirements for corporate trustees of UK Pension schemes

Hogan Lovells on

From 18 November 2025, UK company directors must comply with the identity verification requirements under the Economic Crime and Corporate Transparency Act 2023 (“ECCTA”). ECCTA, which received Royal assent in October 2023,...more

A&O Shearman

Redress Roadmap: What Firms Need to Know Now

A&O Shearman on

The UK Financial Conduct Authority (FCA), Financial Ombudsman Service (FOS) and HM Treasury (HMT) are seeking to reform the financial redress system to deliver greater predictability, consistency and efficiency in resolving...more

White & Case LLP

UK FDI: Key Takeaways from the Government's 2024/25 Annual Report and Plans for Reform

White & Case LLP on

The fourth Annual Report on the UK's National Security and Investment Act 2021 (the "NSIA"), covering the period from April 2024 to March 2025 has been released. The Report provides some valuable insights into the review...more

McDermott Will & Schulte

A breakdown of the latest EU and UK antitrust M&A news

In a parallel push to modernize antitrust oversight, key European regulators, including the European Commission (EC) and the United Kingdom’s Competition and Markets Authority (CMA), are simultaneously reforming their merger...more

A&O Shearman

UK Future Entity for Open Banking to Be Established by End of 2025

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a feedback statement on the design of the Future Entity for UK open banking (FS25/4). The feedback statement responds to the feedback received to the consultation, which...more

WilmerHale

UK Failure to Prevent Fraud Offence to Come into Force - Is Your Organisation Prepared?

WilmerHale on

The new strict liability corporate criminal offence of Failure to Prevent Fraud (FTPF) comes into effect in England and Wales on 1 September 2025. ...more

Ankura

Navigating Fraud in Insolvent Companies: Lessons for the UK

Ankura on

In an ever-evolving UK economy, insolvency is a challenging, yet sometimes inevitable, aspect of business operations. When insolvency is caused by fraud, the repercussions can be severe, impacting employees, creditors, and...more

A&O Shearman

UK Financial Ombudsman Service Funding Model Proposals

A&O Shearman on

The UK Financial Ombudsman Service (FOS) has published a consultation on further changes to its case fee structure. In April, the FOS implemented changes to its charging structure, which included charges for professional...more

A&O Shearman

HMT Confirms Policy Changes to UK's Appointed Representative Regime

A&O Shearman on

HM Treasury (HMT) published a policy statement on the appointed representatives regime, setting out how it proposes to adjust the appointed representative (AR) legislative framework to provide further needed protection for...more

Ropes & Gray LLP

UK Financial Services Reform: Strategic Opportunities for Asset Managers

Ropes & Gray LLP on

The UK government has unveiled a comprehensive package of reforms aimed at recalibrating the regulatory environment, unlocking productive capital, and reinforcing the country’s status as a global financial hub. For asset...more

Mayer Brown

Energy, Mining and Agriculture Regulatory Update: UK Consults on Licencing Exemptions for Commodity Derivatives

Mayer Brown on

The significance of this topic for many clients arises because the UK is home to some of the largest and most significant commodity derivative markets in the world. They serve the risk management needs of a diverse group of...more

A&O Shearman

UK FOS Publishes Q1 2025/26 Complaints Data Showing Decline in Case Levels

A&O Shearman on

The UK Financial Ombudsman Service (FOS) published its Q1 2025/26 complaints data alongside a press release, revealing a notable decline in case volumes to 68,000, down from 74,600 in the same period last year. Complaints...more

Orrick, Herrington & Sutcliffe LLP

UK Financial Conduct Authority issues feedback on the new standard-setting body for open banking

On August 8, the Financial Conduct Authority (FCA) published feedback on the creation of the primary regulator for open banking, the “Future Entity.” The Future Entity will establish and oversee core standards, including API...more

Cooley LLP

UK government reviews opt-out class actions regime – a decade in – time for a change?

Cooley LLP on

The UK government has launched a review into the opt-out collective actions regime for antitrust law claims. This review comes a decade after the regime’s launch. During this period, the regime has developed significantly,...more

Mayer Brown

Securitisation Regulatory Update: UK Regulator Consults on Reforms to Deferred Payment Credit (Buy Now Pay Later)

Mayer Brown on

On 14 July 2025, the FSMA (Regulated Activities etc) (Amendment) Order 2025 (the "DPC Legislation") brought unregulated deferred payment credit ("DPC") within the UK Financial Conduct Authority's ("FCA") remit. According to...more

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

Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Reform to the UK Insurance Special Purpose Vehicles Regulatory Framework

- What is new: The PRA has published a policy statement finalising reforms to the UK insurance special purpose vehicles regulatory framework, including changes to funding, grace periods, authorisation and contract...more

A&O Shearman

UK FCA Handbook 132

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published Handbook Notice 132, outlining legislative and technical updates to the FCA Handbook made by the statutory instruments set out below. - Non-Financial Misconduct...more

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

A&O Shearman

UK PRA publishes discussion paper on proposed reforms to IRB approach for residential mortgages

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has published discussion paper DP1/25 inviting views on potential reforms to the internal ratings based (IRB) approach to credit risk for residential mortgage exposures. The PRA...more

A&O Shearman

UK PRA consults on restatement of CRR definitions in Rulebook

A&O Shearman on

The UK Prudential Regulation Authority (PRA) has published consultation paper CP19/25, proposing the transfer of definitions from Articles 4, 4A, 4B and 5 of the UK Capital Requirements Regulation (CRR) into the PRA Rulebook...more

Morrison & Foerster LLP

Class Action Landscape 2025: Mid-Year Trends and Developments

Over the past decade, changes in legislation, case law, and industry practices have driven a sharp increase in opt-out collective proceedings before the UK’s Competition Appeal Tribunal (“CAT”). We have also seen the English...more

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