- Amending Article 11: to set the
HMT publishes update on its Financial Services Growth and Competitiveness Strategy
On 14 July 2026, HM Treasury (HMT) published an update on its financial services growth and competitiveness strategy (FS Strategy) one year after publication.
Background
The FS Strategy, published in July 2025, set out a ten-year plan for the UK to be the world’s centre of choice for financial services…
HMT consults on Modernising Payment Services Regulation
On 14 July 2026, HM Treasury (HMT) published a consultation paper in relation to modernising payment services regulation.
Background
The government’s National Payments Vision sets out its ambition to ensure the UK has a trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods…
HMT consults on Ring-fencing reform
On 14 July 2026, HM Treasury (HMT) published a consultation paper in relation to ring-fencing reform.
Background
At Mansion House 2025, as part of the Financial Services Growth and Competitiveness Strategy, the Chancellor confirmed her intention to uphold the ring-fencing regime to protect depositors and financial stability while taking forward meaningful reform…
HMT publishes Financial Services AI Adoption Plan
- Regulatory Clarity: HMT sets out that it considers that the UK’s existing regulatory framework
HMT publishes recommendations of the Transatlantic Taskforce for Markets of the Future
On 14 July 2026, HMT published recommendations of the Transatlantic Taskforce for Markets of the Future (TTMF).
Background
TTMF was jointly announced by the Chancellor of the Exchequer, Rachel Reeves, and the US Secretary of the Treasury, Scott Bessent. The Taskforce committed to report back to both finance ministries with initial recommendations via…
HMT publishes Financial Services Skills Compact
On 14 July 2026, HMT published the financial services skills compact (the Compact).
Background
HMT sets out that the Compact reflects a shared agreement between government and signatory firms to work together to close skills gaps in UK financial services.
Summary
The Compact asks signatory firms to take action to close skills gaps through…
PRA publishes speech on the role of research in Prudential Regulation
On 14 July 2026, the Prudential Regulation Authority (PRA) published a speech by David Bailey, Executive Director of Prudential Policy, in relation to the role of research in Prudential Regulation.
Summary
Bailey’s speech focuses on how the PRA uses research to advance its objectives, but in particular its secondary competitiveness and growth objective…
Podcast | Global Regulation Tomorrow Plus – Crypto under the FCA – Custody | Global law firm | Norton Rose Fulbright
Our podcast mini-series on ‘Crypto under the FCA’ examines the FCA’s highly anticipated policy statements published on 30 June 2026, which collectively shape the new regulatory regime for cryptoassets in the United Kingdom. This latest podcast in the series focuses on custody and six key themes – trust arrangements, delegation, reconciliations, settlement float, private key…
European Commission adopts Delegated Regulation on transparency requirements under MiFIR
On 13 July 2026, the European Commission adopted a delegated regulation setting out three sets of regulatory technical standards (RTS) relating to transparency requirements for trading venues and investment firms in respect of derivatives, package orders, and input and output data for the OTC derivatives consolidated tape under the Markets in Financial Instruments…