Policy & Technical Publications

In this final Policy & Technical Update for 2025, we cover the FCA’s consultation on modernising MiFID client categorisation, the FCA finalisation of rules for the CCI retail disclosure regime and the re-launch of the NSI Expert Panel. We also highlight the Government’s consultation on non-compete clauses in employment contracts, the launch of PERG’s annual reports disclosure and transparency under the Walker Guidelines, the launch of the new Sustainability Committee in 2026, the Invest in Women taskforce report and more.

This edition of the Technical Update covers the Government’s recent announcements on the changes to the EIS and VCT schemes, the expansion of EMI options, and changes to EMI/CSOP rules for PISCES and the FRC’s consultation on fund tokenisation. We also highlight BVCA’s consultation response on merger remedies guidance, the Governments publication of The Carbon Budget and Growth Delivery Plan, the Bank of England’s launch of the Private Markets System-Wide Exploratory Scenario and more.

This edition includes articles on the carried interest reform and draft legislation, the UK's regulatory developments, the ESG-related stewardship and engagement in private capital, the IPEV guidelines and more.

This edition of the Technical Update covers the BVCA’s Budget Representation, the BVCA urging Government not to tax partnership profits, the FCA’s promise of clarifications on the application of Consumer Duty to wholesale firms, and the proposed SMCR simplifications. We also highlight recent announcements on the BVCA’s response to the consultation on the NSI Act Notifiable Acquisition Regulation, the EU streamlining of sustainability reporting and due diligence requirements, and more.

This edition of the Technical Update covers the BVCA’s response to the Government’s consultation on draft legislation for carried interest changes, ideas for reforms to EIS and VCTs and the BVCA’s response on UK Sustainability Reporting Standards. We also cover recent announcements relating to the UK Government’s Transition Plan requirements, HMT’s consultation on Money Laundering Regulations proportionality enhancements and shortened firm authorisation deadlines.

This edition of the Technical Update covers the BVCA’s engagement on carried interest and the payments on account regime, the Government’s consultation on PISCES and the CMA’s consultation on its markets regime guidance. We also cover recent announcements relating to the FCA’s findings from their recent SME audit market study, the launch of the new Transition Finance Guidelines and other live consultations on our agenda.

This edition of the Technical Update covers the publishing of the carried interest draft legislation, the need for government to create a tax system to support start-ups, an inquiry into the growth of private markets, and the FCA's issuing of new rules and draft guidance to tackle NonFinancial Misconduct. We also cover recent announcements relating to the consultation on the NSI Act Notifiable Acquisition Regulation, the government’s decision to not adopt a UK-specific Green Taxonomy, the DESNZ’s consultation on raising integrity in Voluntary Carbon and Nature Markets and other live consultations on our agenda.

This edition of the Technical Update covers the Government’s update on the carried interest regime, the US Government’s retaliatory tax measures, the launch of the FCA’s PISCES sandbox, the Government’s review of the NSIA and the Government’s call for more ambition on the future regulation of UK AIFMs. We also cover recent announcements relating to the FCA backing down on the “name and shame” proposal, the BVCA response to ISSB consultation designed to ease emissions reporting burdens, the DENSZ consultation on raising integrity in Voluntary carbon and nature markets and a consultation on UK’s draft Sustainability Reporting Standards and other live consultations on our agenda.

This edition of the Technical Update covers the BVCA’s response HMRC’s consultation on the proposed introduction of a system of advance clearances for companies seeking to use R&D tax relief, the CMA’s call for evidence on merger remedies, and the development of a new education resource as part of the BVCA’s Data Standardisation Project. We also highlight the Government’s Pensions Investment Review, proposals to allow existing Enterprise Management Incentive (EMI) and Company Share Option Plan (CSOP) contracts to include PISCES as an exercisable event, while retaining their tax advantages, the publication of the FRC’s Stewardship Code and discussion paper on Opportunities for Future UK Digital Reporting, and other live consultations on our agenda.

This edition includes articles on carried interest reform, the FCA’s proposals for the Consumer Composite Investment regime, recent engagement with the Competition and Markets Authority, the FCA’s review of private market valuations and more.