United Kingdom: Financial Services

TRAction’s reporting services include data validation and enrichment, ensuring any errors identified are resolved and the data meets the format requirements prior to ARM submission. This article applies to both EU and UK MiFIR.

The UK's new Consumer Composite Investments regime introduces significant changes for UCITS and AIFMs marketing to retail investors, requiring new product summary documents and machine-readable disclosures by June 2027. Manufacturers and distributors must navigate enhanced collaboration requirements, revised documentation standards, and updated regulatory obligations that will fundamentally reshape how investment products are presented to UK retail consumers.

As private markets managers shift from fund-by-fund deployment to platform-level management, a critical governance paradox emerges: decision-making authority becomes centralised while fiduciary obligations remain fragmented across legally separate vehicles.

The Financial Conduct Authority has proposed significant reforms to investment fund regulations, including allowing certain authorised funds to hold cryptoasset exchange traded notes and streamlining climate disclosure requirements. These changes, alongside updates to money market fund rules and anti-money laundering regulations, represent a substantial shift in the UK's approach to fund management and regulatory compliance. The proposals aim to reduce regulatory burden while maintaining investor protection

The FCA's Mills Review examines how artificial intelligence will transform retail financial services by 2030, outlining seven priority recommendations for regulatory adaptation. While concluding the current framework remains fit for purpose, the review emphasizes the need for enhanced governance, operational resilience, and system-wide oversight as AI becomes increasingly autonomous across financial services.

McDermott Will & Emery partners and senior associates examine the evolving landscape of European private credit markets, offering insights into current trends and market dynamics as the industry navigates through mid-year challenges and opportunities. The analysis draws on expertise from the firm's London and Paris offices to provide a comprehensive view of this rapidly developing sector.

The Crime and Policing Act 2026 fundamentally transforms UK corporate criminal liability by changing how organizations can be held accountable for their employees' conduct. Financial institutions face new regulatory thresholds under UK EMIR, while the EU's Digital Operational Resilience Act reveals critical ICT incident patterns across the financial sector.

The UK Financial Conduct Authority has published final policy positions and rules for the new cryptoasset regime, set to take full effect from October 2027. Firms must begin preparing now, with applications for authorisation opening in September 2026 and incentives for early submission. What changes has the FCA made in response to industry feedback, and what steps should firms take to ensure compliance with the comprehensive new regulatory framework?

Private equity's entry into sports is creating new exit opportunities, from secondary buyouts to IPOs, but success depends on navigating complex regulatory approvals and unlocking value through streaming rights, fan engagement, and global sponsorships. Can investors balance financial returns with the long-term brand authenticity that sustains fan loyalty across generations?