United Kingdom: Finance and Banking

On 2 December 2025, the Bank of England's Financial Policy Committee (the FPC) published its December Financial Stability Report, as well as a report entitled ‘Financial Stability in Focus...

On 16 December 2025, the Financial Conduct Authority (FCA) published an engagement paper on ‘Market risk capital requirements for FCA investment firms'.

In this edition, we discuss latest developments in the UK and EU banking and investment regulation. This issue focuses on key papers relating to capital and prudential developments which were published in December 2025.

On 12 February 2026, HM Treasury published a Consultation Paper on reforming the Appointed Representatives regime ("ARs" and the "AR Regime"). The Consultation Paper builds on the Policy Statement published by HM Treasury...

Bonds are often used by governments to fund infrastructure projects or war spending.

The London Stock Exchange (LSE) has launched its Private Securities Market (PSM) – its PISCES platform – and published its Private Securities Market Rules (PSM Rules) and accompanying PSM Handbook via Market Notice N04/26.

Welcome everyone to 2026, and to the first of this year's Gatehouse Property Newsletter (incorporating the answer to last month's "Who am I?" – thanks for all who played!).

Bonds are often used by governments to fund infrastructure projects or war spending.

Reconciliation Phase II (Phase II) is to go live in April 2026 for EU EMIR and September 2026 for UK EMIR.

In Webb and another (as liquidators of Eversholt Rail (365) Limited (in liquidation)) v Eversholt Rail Limited and another [2026] EWHC 101 (Ch), the High Court dismissed the liquidators' appeal against a decision not to allow their extensive application for the production of documents under s.235 and s.236 of the Insolvency Act 1986 (IA 1986).

The FCA has significantly reduced the number of formal enforcement actions that it takes. Instead, the FCA is changing strategy, with more emphasis on exercising its supervisory tools.

Published on 9 February 2026, the changes in financial sanctions enforcement and monetary penalties guidance (Guidance) reflect OFSI's desire to resolve civil enforcement cases in a quicker...