Overview
The BVCA’s Policy Breakfast Briefing Series provides a valuable opportunity for LP and GP members to engage in focused, in-person discussions on key policy issues. Each session, held in London throughout the year, will focus on a specific theme including regulation, sustainability, and pensions.
Designed to foster meaningful dialogue, these morning briefings bring together senior stakeholders to share insights, exchange perspectives, and help shape the BVCA’s policy agenda.
The first event in our Policy Breakfast Briefing Series takes place on 2 December, with a focus on regulatory policy. Please register your interest to join us on the day.
Please note this is a BVCA member only event.
Agenda
UK AIFMD Reform – Future Regulation of Alternative Fund Managers
The FCA’s Call for Input on the future regulation of alternative fund managers is the first stage in developing a UK-specific framework to replace retained EU Law (AIFMD). The FCA aims to create a regime that is proportionate, flexible and internationally competitive, while supporting the growth of UK private markets.
Points for Discussion
- What does a good UK-specific regime look like? Do the FCA’s CfI proposals meet those expectations?
- What operational impact might reforms to prudential capital, depositary rules and reporting have? These are all areas the FCA has committed to reviewing.
- How can the FCA ensure genuine simplification rather than repackaging of existing burdens?
- What lessons can be drawn from other international regimes in designing a more proportionate and flexible UK regime?
- How are firms preparing to engage with the 2026 consultation and policy development process?
MiFID Client Categorisation Review
The FCA is reviewing the MiFID client categorisation regime as part of its wider reforms to modernise and simplify financial regulation. The review seeks to ensure the system remains fit for purpose, proportionate, and aligned with the UK’s ambition to expand access to capital markets.
Points for Discussion
- Does the current framework strike the right balance between investor access and protection?
- Do you think there should be a “high net worth” category/route for professional client opt-up?
- What lessons can be learned from international regimes?
Supervisory Focus on Private Capital - Valuation, Conflicts and Financial Stability
In parallel with regulatory reform, regulators, including the FCA and Bank of England have intensified supervisory scrutiny of private markets. The current focus includes valuation governance, conflicts of interest management and the potential impact of private markets on financial stability.
Points for Discussion
- How are firms experiencing the FCA’s current supervisory engagement?
- Should firms anticipate greater supervisory intensity through 2026?
- How can firms engage constructively and evidence good practice when involved in multi-firm/thematic reviews?
- How does UK supervisory scrutiny and expectations compare with international peers?
Cross-cutting Themes
- How do these reform and supervisory strands fit together under the FCA’s growth and competitiveness agenda?
- What practical steps can firms take now to prepare for the 2026 consultation cycle and deeper supervisory attention?
Date & Timings
Tuesday, 2 December 2025
08:30am - 10:30am
Location
Investec Wealth & Investment (UK)
30 Gresham Street,
EC2V 7QP,
United Kingdom
Dress Code
Business attire
Privacy Information
Following the introduction of GDPR the BVCA will continue to share attendance lists with sponsors and other attendees (names, job titles and company names only) with the exception of events of a sensitive nature.
Please contact [email protected] if you would NOT be happy for us to share this personal information with other attendees. Our full Private Policy & Accessibility Statement can be viewed here.
Code of Conduct - Attendance at Events
The BVCA is committed to bringing members together in a professional environment to collaborate and network. We have established this code of conduct to provide guidelines to participants, and to ensure that all participants understand what behaviour is expected of them at our events.
