United Kingdom: Government, Public Sector

The UK Financial Conduct Authority is consulting on proposed changes to its Decisions Procedure and Penalties Manual, which governs how the regulator imposes financial penalties and public censures in enforcement cases. The consultation period runs until August 10, 2026, inviting stakeholders to comment on the proposed policy modifications.

The UK Government has announced plans to introduce an overnight visitor levy, granting mayors discretionary powers to charge tourists staying in hotels, serviced apartments, and other commercial accommodations. This new framework, following similar schemes in European cities, aims to generate revenue for local area improvements, cultural events, and infrastructure development, though concerns remain about its impact on the hospitality sector and tourism competitiveness.

HMRC has taken the unprecedented step of publicly naming Petrofac Facilities Management Limited after the company paid a compound settlement of £569,157.07 for Russia sanctions violations. Meanwhile, OFSI has released responses to its call for evidence on ownership and control tests, revealing significant practical challenges and costs faced by businesses in making compliance assessments with limited information.