News & Analysis as of

United Kingdom SMCR HM Treasury

Skadden, Arps, Slate, Meagher & Flom LLP

HM Treasury and UK Regulators Announce Wave of Reforms

- What is new: HM Treasury and the UK regulators announced a package of financial services reforms on 15 July 2025, including cross-cutting reforms in the regulatory environment, significant changes to the SMCR regime, a...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

Latham & Watkins LLP

The Edinburgh Reforms - Two Years On

Latham & Watkins LLP on

When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain outstanding, and whether they have...more

Katten Muchin Rosenman LLP

HMT and Regulators Move Forward with SMCR Review

Following our recent article on the Government’s proposed reforms to the Senior Manager and Certification Regime (“SMCR”) (available here), HM Treasury (the “HMT”) launched a call for evidence (“Call for Evidence”), and the...more

Latham & Watkins LLP

UK Government Kicks Off Investment Research Review

Latham & Watkins LLP on

The tone of the Call for Evidence indicates the controversial research unbundling rules could be primed for reform. On 3 April 2023, HM Treasury published a Call for Evidence as the first step in the independent review...more

A&O Shearman

The UK Senior Managers and Certification Regime: Back to the drawing board?

A&O Shearman on

Only months away from its seventh anniversary, HM Treasury announced on Friday as part of its sweeping “Edinburgh Reforms” that it intends to commission a review of the Senior Managers and Certification Regime (SMCR)....more

Latham & Watkins LLP

Report on IT Failures in the UK Financial Services Sector

Latham & Watkins LLP on

UK Treasury Committee report warns that the current level and frequency of disruption and consumer harm is unacceptable. On 28 October 2019, the Treasury Committee published a report on IT failures in the financial...more

White & Case LLP

Crypto regulation: UK FCA clarifies regulatory perimeter – but leaves open questions over its tech neutrality

White & Case LLP on

On 31 July 2019 the UK Financial Conduct Authority (FCA) published final Guidance on the cryptoasset activities within its regulatory perimeter, in response to feedback on its January 2019 consultation paper and as trailed in...more

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