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
UK/EU Financial Regulation
FCA Changes to Ongoing Advice Rules
By Edward Lister & Andrew Wingfield on
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
By Edward Lister & Andrew Wingfield on
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…
EIOPA Consultation Paper on PE in Insurance
By Andrew Wingfield & Edward Lister on
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…
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…
Cryptoassets Regulation in the UK Draft Legislation Published
On 15 December 2025, HM Treasury took a significant step towards establishing a UK regulatory regime for cryptoassets by laying the draft ‘Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2005’ (the “Draft Order”) before Parliament.
The Draft Order aims to set the statutory foundation for a new UK cryptoasset regulatory regime…
CSRD Agreed: A Major Recalibration of the EU Sustainability Reporting Regime
On 16 December 2025, the European Parliament adopted a significantly streamlined version of the Corporate Sustainability Reporting Directive (“CSRD”). This represents a very significant recalibration of the EU’s sustainability reporting regime.
CSRD’s evolution
The CSRD represents the EU’s flagship framework for mandatory sustainability reporting. Originally designed to apply to a broad range of EU and…
Section 16 Short-Swing Liability Rules Likely To Be Extended to Foreign Private Issuers and Their Affiliates
By Frank Zarb & Louis Rambo on
Legislation that will subject non-US companies that publicly report in the U.S. to short-swing profits liability rules under Section 16 of the Exchange Act is embedded in the annual defense funding bill that has passed in the House and goes to the Senate as early as next week. The requirement would apply to companies that…