In the GT Alert we produced in September, we commented on the inquiry the Financial Services Regulation Committee (the Committee) of the House of Lords commenced on non-bank financial institutions (NBFIs).
Continue Reading Non-Bank Lending in the Spotlight: Regulatory Capital and Its Impact
On 8 September 2025, the UK’s Office of Financial Sanction Implementation (OFSI) published a Disclosure concerning breaches of Regulations 11 and 12 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (Regulations) by UK-registered and Financial Conduct Authority-regulated Vanquis Bank Limited (VBL). This instance offers another example of OFSI’s emphasis on encouraging organisations to establish effective, robust, and appropriate compliance procedures, systems, and controls to mitigate the risk of violations.
Continue Reading UK OFSI Enforcement Underscores Need for Effective Sanctions Screening and Controls
The UK Financial Conduct Authority (FCA) is expanding the reach of its Code of Conduct (COCON) for non-bank firms and consulting on new guidance related to non-financial misconduct, with changes taking effect from September 2026 that will align requirements more closely with those already applicable to banks.
Continue Reading UK FCA Expands the Reach of COCON and Consults on Non-Financial Misconduct
The UK government’s 2025 steer encourages the CMA “to ensure that businesses receive a ‘best in class’ experience.”
Continue Reading UK Government’s 2025 Strategic Priorities for the CMA: Key Insights for Businesses and Investors
In late 2024, the United Kingdom’s Financial Conduct Authority (FCA) published a “Dear CEO” letter related to the FCA’s “Custody and Fund Services Supervision Strategy.”
Continue Reading UK FCA Letter Expresses Concerns About Fund Service Providers
On 18 November 2024, a UK court fined English company EDM Limited £89,359.80 for export control rule violations, finding the company guilty on three counts
Continue Reading UK Company Fined for Breaking Export Rules
In March 2023, the Law Commission revealed its plan to review the Landlord and Tenant Act 1954 (“the 1954 Act”) as part of the Ministry
Continue Reading UK Commercial Lease Reforms: Law Commission Reviews Landlord and Tenant Act 1954
On 6 November 2024, the UK government published its long-awaited Guidance for the new offence of failure to prevent fraud (FTP Fraud Offence), which will
Continue Reading UK Failure to Prevent Fraud Offence Widens Net for Corporate Criminal Liability
On 22 May, UK Prime Minister Rishi Sunak called a surprise general election for 4 July, leaving limited time for certain laws to be passed
Continue Reading UK Real Estate Law: Survivors and Casualties of Snap 4 July General Election
On 11 August 2023, the UK Department for Business and Trade issued a General Licence authorising the provision of legal advice in relation to sanctions
Continue Reading UK Government General Licence Reduces Breadth of Recent Sanctions-Related Legal Advisory Services Ban