Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in September 2025:
FCA Priorities: The United Kingdom Financial Authority (“FCA”) published a speech given by Lucy Castledine, FCA Director of Consumer Investments, providing an update on the FCA’s
In recent years, implementation of the FCA Consumer Duty regime has been a significant challenge for most financial services firms. The cross-cutting rules, by their nature, are difficult to interpret and apply especially in a wholesale context, such as in the case of alternative asset managers that use private wealth distribution channels. The FCA has
On 17 September 2025, the Financial Conduct Authority published CP25/25, proposing how various cross-cutting sections of the FCA Handbook will apply to firms engaging in cryptoasset activities that will become regulated under HM Treasury’s draft Regulatory Activities Order (RAO SI, 29 April 2025).
At present, the FCA’s oversight of crypto
The private wealth management sector is uniquely susceptible to financial crime risks, such as fraud, money laundering and sanctions breaches, as highlighted in the FCA’s Dear CEO letter.
Fraud volumes remain at record highs. Private wealth customers have lost significant sums to scams and fraud, and the regulators continue to focus their enforcement
The FCA has completed a major review of safeguarding for payment and e-money institutions. Its new rules are designed to reduce the risks seen in recent failures – where customers faced long delays and, on average, recovered only 35 per cent of the funds they were owed.
At the same time, the
Welcome to Proskauer’s FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in August 2025:
FCA Communications: The UK Financial Conduct Authority (“FCA”) published an update on its approach to simplifying supervisory communications, aiming to make its engagement with firms clearer
A Commission Transparency Reckoning for Financial Services
On 1 August 2025, the Supreme Court handed down its long-awaited judgment in Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd and Hopcraft & Anor v Close Brothers Ltd – reported together as [2025] UKSC 33.
The Court dismissed fiduciary duty and bribery claims but upheld
Welcome to Proskauer’s FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in July 2025 and 1 August 2025:
Motor Finance Commissions: The UK Supreme Court handed down its judgement in Hopcraft and another v Close Brothers Limited and two other cases, all
In a landmark decision in Johnson v FirstRand ([2025] UKSC 33), part of the broader Hopcraft appeals, the UK Supreme Court has ruled that car dealers who arrange finance do not owe fiduciary duties to their customers. This judgment significantly reshapes the legal landscape for motor finance claims and has immediate implications for both litigation