On 4 May 2026, the European Parliament’s Economic and Monetary Affairs Committee (“ECON”) published its draft report (the “Draft Report”) on the European Commission’s proposed overhaul of the Sustainable Finance Disclosure Regulation (SFDR 2.0). The Draft Report includes a draft European Parliament legislative resolution setting out proposed amendments to the European
And… Score! Asset Managers’ Proprietary ESG Scoring Under Pressure from the EU ESG Ratings Regulation
The European Union’s ESG Ratings Regulation (the “Regulation”) will apply from 2 July 2026 and establishes a regulatory framework governing the provision of ESG ratings within the European Union. It introduces requirements relating to authorisation, governance, conflicts of interest and transparency, including public disclosures on rating methodologies (for example, via website disclosures).
Although primarily directed
FCA Changes to Ongoing Advice Rules
Introduction
On 25 March 2026, the UK Financial Conduct Authority (FCA) published Consultation Paper 26/10 ‘Simplifying the Pensions & Investment Advice Rules’.
As the name suggests, the Consultation Paper seeks stakeholder feedback on a proposed consolidation and simplification of the current rules on pensions and investment advice, which are found in
Consolidation of Lloyd’s Rules
Introduction
Lloyd’s of London adds a certain mystique to the UK insurance market. Tracing its history to a 17th century coffee house, Lloyd’s has since developed into the world’s most prominent insurance marketplace and a monolith in the sector.
Transcending its maritime roots, Lloyd’s participants underwrite a vast range of insurance lines, and the
AIFMD 2.0 – One Month to Go: What Fund Sponsors Should be Doing Now to Prepare
With one month to go, fund managers should be ramping up their preparations for complying with the legislative changes to European Union (“EU”) Alternative Investment Fund Managers Directive (“AIFMD”), commonly referred to as “AIFMD 2.0”, which will come into effect in EU member countries on 16 April 2026.
The majority of the changes will apply
EIOPA Consultation Paper on PE in Insurance
Introduction
On 3 February 2026, the European Insurance and Occupational Pensions Authority (EIOPA) published its Consultation Paper on a Supervisory Statement on the Authorisation and Ongoing Supervision of (Re‑)Insurance Undertakings Related to Private Equity (Consultation Paper). The Consultation Paper addresses supervisory expectations for private equity (PE) ownership both ahead of
HM Treasury Consults on the Appointed Representatives Regime
On 12 February 2026, HM Treasury published a Consultation Paper on reforming the Appointed Representatives regime (“ARs” and the “AR Regime”). The Consultation Paper builds on the Policy Statement published by HM Treasury on 11 August 2025, which contained the Government’s initial proposals for legislative changes designed to ensure continued confidence
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.
Key developments in January 2026:
Asset Management / Wealth Management
2 February – Client Categorisation: The United Kingdom Financial Conduct Authority’s (“FCA”) consultation paper (CP25/36) on its proposals to amend the client
FinReg Timeline 2026
As 2026 begins, our Regulatory team has mapped the key legal and regulatory developments affecting managers of investment funds (including private equity, private credit, hedge and other alternative funds), insurers and other financial institutions operating in the UK, U.S. and EU. We have distilled the main dates into an easy-to-read timeline with brief commentary on
FinReg Monthly Update
Welcome to the FinReg Monthly Update, a regular bulletin highlighting the latest developments in UK, EU and U.S. financial services regulation.
Key developments in December 2025:
Asset Management / Wealth Management
18 December – AIFMD 2.0 Liquidity Management Tools: European Securities and Markets Authority (“ESMA”) published an amended version of its guidelines on