Tracks financial services regulatory developments and provides insight and commentary
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…
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…
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…
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…
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…
On 14 July, the House of Commons Treasury Committee (the Committee) published a report on HM Treasury’s (HMT’s) financial inclusion strategy.
Background
The committee previously launched this inquiry on 28 November 2025 to examine whether the government’s Financial Inclusion Strategy matched the scale of financial exclusion and was likely to make a meaningful…
On 14 July 2026, the Prudential Regulation Authority (PRA) published a consultation paper setting out its proposal to delete the Continuity of Provision of Services Chapter in the Ring-fenced Bodies Part of the PRA Rulebook, make certain consequential changes to that Part, and amend associated material in supervisory statement (SS) 8/16.…
On 14 July 2026, the Prudential Regulation Authority (PRA) published a policy statement (PS16/26) in relation to rule changes rule changes to accommodate HM Treasury’s (HMT’s) Overseas Prudential Requirements Regime (OPRR).
Background
CP3/26 set out proposed amendments to the PRA Rulebook and Statement of Policy (SoP) 5/15 to accommodate…
On 14 July 2026, HM Treasury (HMT) issued draft statutory instrument and policy note on the Alternative Investment Fund Managers Regulations 2026.
Background
The Alternative Investment Fund Managers Directive (AIFMD) (Directive 2011/61/EU) was introduced in 2011 in the EU with the aim of harmonising the regulatory framework for funds and fund…
On 14 July 2026, the Financial Conduct Authority (FCA) published three consultation papers setting out a proposed a package of reforms that is intended to tailor requirements proportionately for asset managers, cut costs for firms and give better data to supervise the sector more effectively.
Background
These consultation papers accompany HM Treasury’s (…
