United Kingdom: Commodities/Derivatives/Stock Exchanges

On 3 August 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/15, setting out final transaction reporting rules that will replace and restate assimilated EU law derived from the Markets in Financial Instruments Regulation (UK MiFIR).

TRAction often gets asked whether Rolling Spot FX and Spot Precious Metals are reportable under MiFIR. In this article, we explain why we consider that Rolling Spot FX and Spot Precious Metals are not reportable under MiFIR.

Market participants employ four main credit risk transfer structures—bank-issued CLNs, SPV-issued CLNs, credit default swaps, and participation interests—each carrying distinct risk, regulatory, and funding profiles that require careful evaluation. Asset managers must navigate critical considerations including due diligence protocols, credit event definitions, and recovery rights to optimize returns. Recent Basel 3 re-proposals in the U.S. and regulatory developments in the E.U. and U.K. are res

On May 5, 2026, the Securities and Exchange Commission (SEC) proposed amendments that would permit public companies to elect to file semiannual interim reports on a new Form 10-S instead

Regulatory reporting is complex and with the numerous EMIR updates released by ESMA over the years, it can get quite confusing. Recently, the European Commission has published a proposal called EMIR 3.

Regulators and Approved Reporting Mechanisms (ARMs) face the complex challenge of determining which financial transactions must be reported under MiFIR regulations. The Financial Instruments Reference Data Systems (FIRDS) serves as the critical infrastructure enabling this determination, but how exactly does this system work and what are its limitations?

The UK FCA has fined a capital markets adviser to an energy company GBP100,281 – and banned him from working in financial services – for insider dealing.

The UK's previous prospectus regime, in existence before January 19, 2026, was closely aligned with the Prospectus Regulation (EU) 2017/1129, which was onshored in the UK after Brexit as the UK Prospectus Regulation (the UK PR).

The UK Financial Conduct Authority (FCA) has recently censured BlueCrest Capital Management (UK) LLP (BlueCrest) and secured a voluntary USD101m redress scheme for investors in a fund it managed.