Podcast — UK FinReg Focus Areas in 2025: Wholesale Markets
The regulator’s newest caseload sheds some light on the latest priorities, and could well lead to important outcomes relating to the SMCR and the Consumer Duty....more
HM Treasury has launched a consultation on proposed reforms to the appointed representatives (ARs) regime, following its August 2025 policy statement. The aim is to strengthen confidence in the regime, enhance consumer...more
Financial services sit at the heart of the UK government’s modern Industrial Strategy. Designated as one of eight “growth-driving sectors”, it is expected to play a central role in supporting economic growth – yet it faces...more
HM Treasury issued a consultation on 15 July 2025, “Regulatory Environment Pillar – Cross‑Cutting Issues,” which complements the Financial Services Growth and Competitiveness Strategy, addressing systemic improvements to the...more
- What is new: HM Treasury and the UK regulators announced a package of financial services reforms on 15 July 2025, including cross-cutting reforms in the regulatory environment, significant changes to the SMCR regime, a...more
On 15 July 2025, Chancellor of the Exchequer Rachel Reeves delivered her Mansion House 2025 speech unveiling the Leeds Reforms, a programme for financial services reforms to drive investment and growth in the sector....more
Last week, the FCA published its long-awaited policy statement containing amendments to the FCA’s Code of Conduct (“COCON”) aimed at combatting non-financial misconduct (“NFM”). NFM can amount to a breach of FCA rules in any...more
In a previous alert, “FCA D&I Standards for Large Firms Abandoned (for now), Non-financial Misconduct Rules Delayed (but Still Important),” we discussed the proposals put forward by the UK Financial Conduct Authority (FCA)...more
In a previous alert, we discussed the proposals put forward by the UK Financial Conduct Authority (FCA) for all FCA-authorised firms to better integrate non-financial misconduct (NFM) considerations into their senior manager...more
Firm culture remains a key topic on the Financial Conduct Authority’s (FCA’s) radar this year. In a previous alert, we discussed the FCA’s proposals for all FCA-authorised firms to better integrate non-financial misconduct...more
In this episode of our Connected With Latham podcast series, the first of three episodes complementing Latham’s “10 Key Focus Areas for UK-Regulated Financial Services Firms in 2025” report, London partners Rob Moulton and...more
On 13 December 2024, the FCA and the PRA published linked Consultation Papers on operational incident and third-party reporting (FCA CP24/28 and PRA CP17/24). The consultations aim to create a structured framework for...more
When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain outstanding, and whether they have...more
On 26 November 2024, the PRA and the FCA published a joint Consultation Paper on changes to the remuneration rules (PRA CP16/24, FCA CP24/24). The changes are relevant to banks, building societies, and PRA-designated...more
Yesterday the PRA and FCA published PRA consultation paper 16/24 / FCA consultation paper 24/23 – Remuneration reform, containing proposals for significant changes to the remuneration regime. The UK’s current remuneration...more
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
The FCA is focused on reducing non-financial misconduct to enhance the reputation of the UK financial services sector. Spurred on by positive levels of engagement with its 2021 discussion paper, the FCA’s latest consultation...more
The extent to which firms are captured by the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) proposals to implement a new regime for diversity and inclusion (D&I) in financial services...more
Non-financial misconduct in financial services firms is back at the top of the agenda following the concurrent publication of the FCA’s Consultation Paper 20/23 (Diversity and inclusion in the financial sector – working...more
A new publication from the UK’s financial regulator signals to firms that they should take steps to manage risks in the use of AI. The UK’s Financial Conduct Authority (FCA) has published its latest board minutes...more
In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more
In this article, we share a round-up of the key developments from a regulatory perspective for HR Professionals in UK financial services firms. This covers expected changes to the SMCR regime, regulatory remuneration...more
Following our recent article on the Government’s proposed reforms to the Senior Manager and Certification Regime (“SMCR”) (available here), HM Treasury (the “HMT”) launched a call for evidence (“Call for Evidence”), and the...more
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published a discussion paper on 30 March 2023 seeking opinions on the Senior Managers and Certification Regime (SMCR). Concurrently, the UK...more
The tone of the Call for Evidence indicates the controversial research unbundling rules could be primed for reform. On 3 April 2023, HM Treasury published a Call for Evidence as the first step in the independent review...more