On 11 March 2025, the UK’s financial regulators confirmed they have decided not to move forward with proposed diversity and inclusion (D&I) rules for financial firms. This decision in a letter by the Financial Conduct Authority (FCA) and a letter by the Prudential Regulation Authority (PRA) marks the end
Financial Regulation
FCA’s Private Market Valuations Review – Good Practice but Room for Improvement
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
Background
On 5 March 2025, the United Kingdom’s Financial Conduct Authority (“FCA”) published the findings of its multi-firm review of valuation processes for private market assets (the “Review”). The Review covered firms operating in range of private asset classes, including: venture capital, infrastructure (equity and debt), private equity and private debt.…
Parked: The Extension of the UK’s Sustainability Disclosure Requirements to Portfolio Managers
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 14 February 2025, the Financial Conduct Authority (the “FCA”) updated its webpage on consultation paper (CP24/8) on extending the sustainability disclosure requirements (“SDR”) and investment labelling regime to portfolio managers. In the update, the FCA confirmed that it no longer intends to do so and will continue to reflect on the feedback received and…
Regulation Round Up
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in January 2025:
31 January
UK Listing Rules: The FCA published a consultation paper (CP25/2) on further changes to the public offers and admissions to trading regime and to the UK Listing Rules.…
One week to go until HM Treasury’s UK Green Taxonomy Consultation closes
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
HM Treasury published the UK Green Taxonomy Consultation (the ‘‘Consultation’’) on 14 November 2024, and there is one week to go until the consultation window closes on 6 February 2025. The Consultation seeks views on the value of the UK government implementing a UK green taxonomy (the ‘‘Green Taxonomy’’) into its…
EU Taxonomy developments: EU Platform on Sustainable Finance call for feedback on draft report on new activities and updated technical screening criteria
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 8 January 2025, the EU Platform on Sustainable Finance (PSF) published a draft report and launched a call for feedback on proposed updates to the EU taxonomy. This includes revisions to the Climate Delegated Act and new technical screening criteria. Stakeholders are invited to submit feedback by 5 February 2025.
Key areas sought for
…Regulation Round Up
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in December 2024:
20 December:
FCA Handbook: The Financial Conduct Authority (‘‘FCA’’) published Handbook Notice 125, setting out changes to the FCA Handbook made by the FCA board on…
Sustainability-related disclosures for all funds proposed by EU Platform on Sustainable Finance
By John Verwey, Rachel Lowe, Sulaiman Malik & Michael Singh on
On 17 December 2024, the EU Platform on Sustainable Finance (the “Platform”), an advisory body to the European Commission (the “Commission”), has published a briefing note to the Commission, outlining their proposals for a new categorization system for sustainable finance products (the “Proposal”). This is intended to be in replacement of the current regime under…
Regulation Round Up
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in November 2024:
29 November
Financial Crime: The Financial Conduct Authority (“FCA”) published a policy statement (PS24/17) setting out changes to its Financial Crime Guide.
FCA Handbook: The FCA published Handbook…
FCA’s ‘Co-Manufacturer’ Classification and Its Impact on Financial Services
In the evolving landscape of financial services, there have been reports that the Financial Conduct Authority (FCA) has recently classified FNZ, a prominent wealth management platform provider, as a ‘co-manufacturer’ of financial products. This designation carries significant regulatory implications, underscoring the critical role of product governance in ensuring consumer protection and market integrity.