On 13 January 2025, the Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 (the Order) was made and published on legislation.gov.uk, along with an explanatory memorandum.
The Order implements reforms to the bank ring-fencing regime which are intended to improve its functionality. As set
On 13 January 2025, the Short Selling Regulations 2025 (the Regulations) were made and published on legislation.gov.uk, along with an explanatory memorandum. The Regulations will replace assimilated law concerning short selling, including the Short Selling Regulation.
The Regulations establish a new legislative framework for the regulation of short selling, which creates designated activities
On 14 January 2025, the Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025 (the Regulations) came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations enable the Financial Conduct Authority (FCA) to supervise and enforce rules that it makes under the
On 14 January 2025, the Financial Conduct Authority (FCA) published two new webpages, providing an update for firms on redress liabilities and information on how to identify and report ‘polluting behaviour’ (where firms try to avoid potential or actual liabilities generated in the course of their regulated activities).
Update for firms
The ‘update
On 11 January 2025, HM Treasury (HMT) and the Chancellor of the Exchequer, Rachel Reeves, published the policy outcomes from the 2025 UK-China Economic and Financial Dialogue.
In a related press release, HMT explains that the aim of the dialogue was to support a stable and balanced UK-China relationship. During the discussion
On 13 December 2024, the Payment Systems Regulator (PSR) issued:
On 9 January 2025, the Financial Conduct Authority (FCA) published its response to the independent panels’ 2023/24 annual reports.
The FCA has six independent statutory panels which represent the interests of consumers, regulated firms, and markets, and with which it is required to consult on the impact of its work, policies, and
On 10 January 2025, HM Treasury (HMT) issued its response following its November 2023 call for evidence on the exemption which pension funds currently have from the obligation to clear certain derivatives contracts. The government previously extended the exemption to 18 June 2025 and noted that it would conduct a review to determine
On 10 January 2025, the Prudential Regulation Authority (PRA) published the 2024 Annual Report of its Cost Benefit Analysis (CBA) Panel.
The CBA Panel is a statutory panel established to provide advice to the PRA and the Bank of England (BoE) on the preparation of CBAs. Since 1 August
On 10 January 2025, the Financial Conduct Authority (FCA) issued a Dear CEO letter to credit reference agencies, and providers of credit information services setting out its strategy for this portfolio.
The letter gives firms in the portfolio some insights into the FCA’s priority areas for the next two years. This includes embedding