The regulator has dropped its proposed “public interest” test, but will take certain aspects of its proposals forwards.
By Andrea Monks, Rob Moulton, Nell Perks, Anna James, and Charlotte Collins
On 3 June 2025, the FCA published its final policy (PS25/5) on announcing enforcement investigations, along with its updated Enforcement Guide, ending a rather turbulent consultation…
Government provides final position on the new regime for regulating certain buy-now-pay-later products.
By Becky Critchley and Charlotte Collins
On 19 May 2025, HM Treasury published its consultation response on the regulation of certain buy-now-pay-later (BNPL) products, setting out its final position, and laid a draft statutory instrument before Parliament to effect the necessary legislative changes. This publication finally brings…
Government consults on the first stage of reforming the UK consumer credit regime, covering information requirements, sanctions, and criminal offences.
By Becky Critchley and Charlotte Collins
On 19 May 2025, HM Treasury published a Phase 1 consultation on reform of the Consumer Credit Act 1974 (CCA). This publication has been eagerly awaited for some time and helps bring clarity to…
The OCC is restoring its former practices and policies under the Bank Merger Act to reinstate expedited merger reviews and streamlined business combination applications.
By Arthur S. Long, Pia Naib, Connor Jobes, and Deric Behar
On May 8, 2025, the Office of the Comptroller of the Currency (OCC) issued an interim final rule (Interim Final Rule) to…
The EU Listing Act reforms are leading to notable divergence between the EU and UK market abuse regimes, with key changes impacting disclosure requirements for issuers.
By Mark Austin, Nicola Higgs, James Inness, Rob Moulton, Anna Ngo, Jonathan Ritson-Candler, Charlotte Collins, and Johannes Poon
Until recently, the UK and EU post-Brexit market abuse…
The proposals aim to make the UK regime more proportionate and suggest different rules
applying to hedge funds, venture capital firms, and private equity houses.
By Nicola Higgs, Rob Moulton, and Jonathan Ritson-Candler
On 7 April 2025, the FCA published a Call for Input, and HM Treasury published an Open Consultation, on the reform of the UK regulatory…
In light of ongoing litigation and the Trump administration’s new policy approach, federal banking agencies intend to rescind the 2023 CRA final rule and revert to pre-2023 standards.
By Betty M. Huber, Arthur S. Long, Pia Naib, and Deric Behar
On March 28, 2025, the Office of the Comptroller of the Currency (OCC), the Board of Governors…
FCA outlines its priorities and areas in which it plans to reduce the regulatory burden for firms.
By Rob Moulton, Nicola Higgs, Becky Critchley, and Charlotte Collins
On 25 March 2025, the FCA published its five-year strategy (Strategy), alongside the outcome of its review of retail conduct rules in light of the Consumer Duty. Together, these publications…
The regulators have said they will not pursue their proposals on announcing enforcement investigations and on D&I.
By Rob Moulton, Nicola Higgs, Becky Critchley, Anna James, and Charlotte Collins
On 12 March 2025, the FCA and PRA made important announcements regarding the long-awaited outcomes on certain key policy proposals. The FCA published a letter addressed to…
The regulator found many examples of good practice, but also published further guidance and case studies to help firms address areas for improvement.
By Rob Moulton, Nicola Higgs, Becky Critchley, and Charlotte Collins
On 7 March 2025, the FCA published findings from its review of firms’ treatment of vulnerable customers, along with new examples of good practice…
Under its new acting chairman appointed by President Trump, the FDIC charges ahead with its new agenda by rolling back key Biden-era regulatory efforts.
By Arthur S. Long, Pia Naib, and Deric Behar
On March 3, 2025, the Federal Deposit Insurance Corporation (FDIC) announced that its Board of Directors1 voted to rescind the agency’s 2024 Statement of…
A review of fund and portfolio managers found a number of good practices, but also revealed the need for improvement in areas such as conflict management.
By Rob Moulton, Nicola Higgs, Becky Critchley, and Charlotte Collins
On 5 March 2025, the FCA published the findings from its review of private market valuation practices. The FCA undertook this…
