The European Supervisory Authorities (ESAs) and the UK’s Bank of England, Prudential Regulation Authority and Financial Conduct Authority (together, the UK Regulators) have signed a Memorandum of Understanding (MoU) to...more
On 19 December 2025, the Financial Conduct Authority (FCA) published a policy statement (PS25/24) finalising the rules and guidance for the Ancillary Activities Test (AAT) under the Ancillary Activities Exemption (AAE)....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
12/18/2025
/ Anti-Money Laundering ,
CFTC ,
Cybersecurity ,
Digital Assets ,
Digital Operational Resilience Act (DORA) ,
European Commission ,
Financial Conduct Authority (FCA) ,
Investment Advisers Act of 1940 ,
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Securities and Exchange Commission (SEC) ,
The GENIUS Act
On 28 November 2025, the Financial Conduct Authority (FCA) published a policy statement (PS25/17) finalising rules proposed in its July 2025 consultation paper (CP25/20). The reforms remove the Systematic Internaliser (SI)...more
On 21 November 2025, the Financial Conduct Authority (FCA) published a consultation paper (CP25/32) setting out proposed reforms to the UK transaction reporting regime (the Regime). The consultation aims to reduce regulatory...more
The Institutional Limited Partners Association (ILPA) has released an updated Capital Call & Distribution Template (CC&D Template) to standardise the accounting details embedded in call and distribution notices and to align...more
On 18 November 2025, the European Supervisory Authorities (ESAs) published the first list of designated critical information and communication technology (ICT) third party service providers (CTPPs) under the EU Digital...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
On 5 November 2025, HM Treasury (HMT) published a draft statutory instrument, the Over-the Counter-Derivatives (Intragroup Transactions) Regulations 2026 (draft SI), together with a policy note, and the UK Financial Conduct...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
From Enforcement to Empowerment: SEC Chairman Paul Atkins Charts a New Regulatory Approach for Digital Assets -
SEC Chairman Atkins promoted a forward-looking regulatory agenda, emphasizing three interlocking priorities: (1)...more
On 28 October 2025, the Financial Conduct Authority (FCA) published a consultation paper (CP25/29) proposing significant changes to the UK’s short selling regulatory framework. CP25/29 seeks to introduce a new Short Selling...more
FCA Sets Out T+1 Settlement Expectations for UK Asset Managers and Alternative Firms -
On 23 October 2025, the Financial Conduct Authority (FCA) published a letter directed at firms within its Asset Management and...more
On 23 October 2025, the Financial Conduct Authority (FCA) published a letter directed at firms within its Asset Management and Alternative Firms portfolio, setting out expectations for the UK’s transition from T+2 to T+1...more
On 14 October 2025, the Financial Conduct Authority (FCA) published a consultation paper (CP25/28) setting out proposals to advance fund tokenisation through new direct dealing arrangements, and guidance on distributed ledger...more
On 9 October 2025, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published policy statements PS25/13 and PS16/25 respectively, completing the transfer of the Markets in Financial Instruments...more
On 30 September 2025, the Financial Conduct Authority (FCA) published issue 84 of Market Watch (Issue 84), providing a one-year review of the UK European Market Infrastructure Regulation (UK EMIR) Refit implementation and its...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more
After several years of market turbulence, the private equity landscape in 2025 is characterised by a delicate balance of power between Limited Partners (LPs) and General Partners (GPs). Fundraising remains challenging,...more
The Financial Conduct Authority (FCA) has published a consultation (CP25/25) on the application of the FCA Handbook to regulated cryptoasset activities. If the proposals therein are implemented by the FCA, it would mark...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Background -
HM Treasury (HMT) recently published a draft statutory instrument (SI), The Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025, alongside a policy note (Policy...more
Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more
The European Supervisory Authorities (ESAs) recently published a comprehensive guide (Guide) on the oversight of critical information and communications technology (ICT) third-party service providers (CTPPs) under the EU...more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe....more