Regulation Tomorrow Podcast

In this latest episode of Global Regulation Tomorrow Plus we delve into the Financial Conduct Authority's expansion of the Conduct Rules (COCON) to non-banks, the evolving expectations around workplace culture, and the practical implications for firms' policies and procedures including some next steps that firms should be considering. Contacts: Katie Stephen, Catrina Smith, Joe Smallshaw, Rebecca Dulieu

In this latest episode of Global Regulation Tomorrow Plus we discuss the Financial Conduct Authority's recent multi-firm review of risk management and wind-down planning at e-money and payments firms, alongside the regulator's Dear CEO letter from earlier this year, which outlined the FCA's priorities for payments firms. Both publications paint a picture that many e-money and payment firms are still underprepared for an orderly exit from the market. Contacts: Matthew Gregory, Haney Saadah, Janna Garcia and Simon Lovegrove

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Sebastien Praicheux from our Paris office discusses: • A recent speech delivered by Denis Beau, First Deputy Governor of the Banque de France, during the June 2025 General Assembly of the French Banking Association. In this keynote, Mr. Beau outlines the reforms France wishes to see at the EU level - advocating not for deregulation, but for better regulation. • The European Banking Authority's No Action Letter, which clarifies the interaction between the Payment Services Directive 2 and the Regulation on markets in cryptoassets, in particular regarding electronic money tokens. • The European Central Bank's Decision (EU) 2025/1148, which amends the rules governing access by non-bank payment service providers to Eurosystem payment infrastructures and accounts.

In the second episode of our vodcast series, Richard Sheen and Clementine Hogarth, partners in our London Financial Institutions team continue their discussion on asset mangement M&A, exploring deal structure and value. They discuss the practical considerations behind share vs asset purchases, including when statutory transfers like Part VII may be appropriate. Valuation is a key focus, particularly the role of assets under management (AUM) and investment management agreements (IMAs) in underpinning business value. The episode outlines how deal consideration can be shaped by mechanisms like completion adjustments, earn-outs, and protections against client attrition—especially during the period between signing and closing. The conversation highlights how long-term AUM commitments and extended IMAs are increasingly used to lock in value—particularly in joint ventures. Governance, control rights for minority shareholders, and reputational safeguards are also explored, along with the strategic rationale behind joint venture structures.

Global Regulation Tomorrow Plus: UK cryptoasset regulation mini-series – Episode 2 – Qualifying stablecoins by NRF Regulation Tomorrow Podcast

In the latest episode of our Let's talk asset management series, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the Financial Conduct Authority's findings following a review of business models for smaller asset managers and alternatives.

This podcast is the second in a mini-series discussing risk assessments, which are the cornerstone of an effective risk and compliance program and necessary in a number of areas to meet UK regulatory requirements. The first of our podcasts in the series focused on the new failure to prevent fraud offence which comes into force soon, on 1 September 2025. This second podcast is broader in scope – looking at the key principles for a good risk assessment, which can be applied to a number of different topic areas.

In the first episode of our new vodcast series, Richard Sheen and Clementine Hogarth, partners in our London  Financial Institutions team, explore the key forces driving mergers and acquisitions in the asset management industry.

In the seventh episode of our Inside Investigations podcast series, Jeremy Lua (Counsel, APAC Cybersecurity and Data Privacy, Singapore), Fiona Bundy-Clarke (Counsel, Data Protection and Technology, London), Ashley Kuempel (Partner, Regulations, Investigations, Security and Compliance, Austin), Rita Nader-Guéroult (Counsel, Investigations and Business Ethics Team, Paris) and Rongxin Huang (Partner, Shanghai Pacific Legal, Shanghai) delve into data privacy and security considerations in internal and regulatory investigations, particularly those with a cross-border element. Building upon our previous episode about common data sources and challenges in data collection, this episode explores the significant impact that data protection regulations—such as the EU / UK's GDPR—have on the necessary collection and processing of large volumes of personal data over the course of an investigation.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Michael Born from our Frankfurt office discusses recent communications from the German regulators regarding MiCA and CRD 6 and BaFin's recent annual press conference. Contacts: Michael Born and Simon Lovegrove

In the first in our new mini-series looking at the UK's approach to regulating cryptoassets, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss the new regulated activity of operating a qualifying cryptoasset trading platform.

In the latest episode of our podcast series, Let's talk asset management, Claire Guilbert, Hannah Meakin, Lucy Dodson and Simon Lovegrove explore the similarities and differences between Luxembourg's Reserved Alternative Investment Fund (RAIF) and the UK's Reserved Investor Fund (RIF).

Recent tariff developments have transformed the international trade landscape with consequent market volatility. In our latest Global Regulation Tomorrow Plus podcast, Katie Stephen, Hannah Meakin and Catherine Pluck discuss the impact of volatility on market abuse risk, as well as some of the key practical steps that firms can take to mitigate that risk. For further knowledge resources in relation to this area please see our Financial crime hub.

In the latest episode of our podcast series, Split the Difference, Jonathan Herbst, Hannah Meakin, Anna Carrier and Simon Lovegrove cover the draft UK legislation for regulating cryptoassets and recent FCA discussion paper and compare it with the EU Regulation on markets in cryptoassets regulation.

In our latest Global Regulation Tomorrow Plus podcast, Matthew Gregory and Simon Lovegrove discuss recent developments regarding vulnerable customers including the FCA's multi-firm reviews on vulnerability and how retail banks and building societies approach customers in vulnerable circumstances that involve bereavement and power of attorney.

In the latest of our Risks Redefined podcast series, Janna Garcia, Katie Stephen, Stuart Neely and Hannah McAslan-Schaaf focus on failure to prevent fraud risk assessments, including discussion of what firms should be thinking about in this area and what we have been seeing through our work supporting firms in relation to the new offence.

In the third episode in our mini-series exploring the UK's new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Anita Edwards discuss the FCA's latest consultation paper, CP25/9, which includes proposals relating to the transaction costs methodology, cost disclosures and draft transitional provisions.

In the latest episode of our podcast series, Split the Difference, Hannah Meakin, Nikolai de Koning, Anna Carrier and Simon Lovegrove discuss upcoming changes to the EU Benchmarks Regulation and compare the UK and EU regimes.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Maria Beatrice Gilesi from our Milan office discusses recent communications from the Italian regulators regarding MiCA, DORA, CRD 6 and AI.

In this latest episode of Global Regulation Tomorrow Plus Hannah Meakin, Saaraa Alimahomed and Simon Lovegrove explore carbon trading and the UK financial services regime.

In this latest episode of our podcast series, Let's talk asset management, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the recent papers issued by HM Treasury and the Financial Conduct Authority to streamline the regulatory framework for the alternative investment management sector to promote economic growth.

In the third in our mini-series exploring the UK's new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Anita Edwards discuss the role of manufacturers under the regime.

In the fourth episode in our mini-series exploring the UK's new Consumer Composite Investments regime, Joe Bamford and Simon Lovegrove discuss distributors.

In the latest episode of our podcast series, Split the Difference, Hannah Meakin, Floortje Nagelkerke, Anna Carrier, Lucy Dodson and Anita Edwards discuss upcoming and potential reforms to the commodity derivatives regulatory framework in the UK and EU.

In this latest episode of our podcast series, Let's talk asset management, Jonathan Herbst, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the UK Financial Conduct Authority's recent multi-firm review of valuation processes for private market assets.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Lucinda McCann from our Sydney office discusses APRA's recently announced governance review and ASIC's report ‘Beware the gap: Governance arrangements in the face of AI innovations'.

In the second in our mini-series exploring the UK's new Consumer Composite Investments regime, Joe Bamford and Anita Edwards discuss the proposed disclosures that would be required under the new regime – the Product Summary Disclosure and the Core Information Document.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Karl Masi and Hasanali Pirbhai from our Dubai office provide a regulatory update for the UAE. This includes the FATF's onsite assessment this year, current themes in DFSA supervision, the virtual asset framework and a new consultation on commodity tokens and securities tokens.

In this latest episode of our podcast series, Let's talk asset management, Hannah Meakin, Lucy Dodson and Simon Lovegrove discuss the UK Financial Conduct Authority's recent guidance on its expectations for authorised fund applications made by firms for collective investment schemes to be authorised as authorised unit trusts, authorised contractual schemes and authorised open-ended investment companies.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Floortje Nagelkerke and Nikolai de Koning from our Amsterdam office provide a regulatory update for the Netherlands. This includes the AFM's strategy 2023-2026, DORA and MiCA implementation, sustainability compliance and anti-money laundering.

In this latest episode of Global Regulation Tomorrow Plus Elisa de Wit, Vittorio Casamento and Simon Lovegrove explore the carbon market generally and then discuss the Australian financial services regime for carbon credits and when to apply for an AFS licence.

In the first in our new mini-series exploring the UK's new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Simon Lovegrove set the scene by covering at a high level who the new regime applies to, the impact on unauthorised firms, disclosures and timing generally.

In our latest Global Regulation Tomorrow Plus podcast, Kevin Harnisch, Mark Highman, Katie Stephen and Hannah McAslan-Schaaf discuss the failure to prevent fraud offence under the UK's Economic Crime and Corporate Transparency Act 2023, which comes into force on 1 September 2025, and how it might impact US firms.

In this latest episode of our podcast series, Split the Difference, Hannah Meakin, Floortje Nagelkerke, Anna Carrier, Lucy Dodson and Simon Lovegrove look ahead at some of the key regulatory topics impacting institutions in the markets space in both the UK and the EU during 2025.

In our latest Global Regulation Tomorrow Plus podcast, Matthew Gregory and Anita Edwards discuss the FCA and the FOS's joint call for input seeking views on how to modernise the redress system.

In this latest episode of our podcast series, Let's talk asset management, Floortje Nagelkerke, Anna Carrier and Simon Lovegrove discuss the EU Digital Operational Resilience Act (DORA) and its impact on asset managers.

In the latest episode in our split the difference podcast series, which explores divergence in the regulatory regimes in the markets space, Mark Highman and Hannah McAslan-Schaaf consider the US and UK regimes for short selling. On the US side we focus in particular on the SEC's short position and activity reporting requirements under SEC Rule 13f-2.

The sixth episode of our Global Investigations Podcast Series sees Claudia Van Gruisen (Senior Associate, Investigations, Enforcement and Compliance team, London) discussing the preservation, collection and transfer of data in investigations with Andrew Reeves (Partner, Investigations, Enforcement and Compliance team, London), Stephen Nattrass (Head of Regulations and Investigations, Canada) and Rita Nader-Guéroult (Counsel, Investigations and Business Ethics Team, Paris). We discuss key considerations, potential pitfalls and practical tips for managing data in investigations.

In this latest episode of our podcast series, Let's talk asset management, Frank Herring and Simon Lovegrove continue their discussion on the EU Retail Investment Strategy and focus this time on ESMA's and EIOPA's recent letter which included comments on the value for money proposal.

In this latest episode of our podcast series, Let's talk asset management, Haney Saadah, Matthew Gregory and Simon Lovegrove discuss the FCA's ‘naming and marketing' rules under the Sustainability Disclosure Requirements. These rules came into force on 2 December 2024 although some firms have taken the ‘temporary flexibility' offered by the FCA which gives firms until 2 April 2025 to comply with the rules.

In our latest Global Regulation Tomorrow Plus podcast, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss the FCA's recently published Market Watch 81, which sets out some observations from the regulator's supervision of the transaction reporting regime.

With the rise in investigations across the Middle East and the increasingly rigorous and pro-active enforcement appetite of the regulators, it is important to carefully and strategically to mitigate risk. This Podcast episode will provide an overview of the key trends in investigations across the region, consider some of the underlying policies which shape the regulators' approach, and provide an overview of the key legal, procedural, governance and reputational issues to be aware of.

In this latest episode of our podcast series, Let's talk asset management, Hannah Meakin, Lucy Dodson, Rebecca Dulieu and Simon Lovegrove discuss the UK Financial Conduct Authority's recent work on non-financial misconduct and its impact on the UK asset management sector.

In our latest edition of Regulation Around the World, we consider the UK Financial Conduct Authority's Consumer Duty and see if the United States and Australia have already got similar concepts in their frameworks.

In this latest episode of our podcast series, Let's talk asset management, Claire Guilbert and Simon Lovegrove discuss European Long Term Investment Funds and the recent European Commission Delegated Regulation containing regulatory technical standards providing further guidance on the regime.

In February this year the FCA sent a survey to over 1,000 regulated wholesale financial services firms asking a series of questions about incidents of non-financial misconduct recorded by the firms in the years 2021, 2022 and 2023. In this latest Global Regulation Tomorrow Plus episode, Katie Stephen, Hannah Meakin, Simon Lovegrove and Catherine Pluck discuss the results of the FCA's survey which were published on 25 October 2024.

In the latest Global Regulation Tomorrow Plus episode, Matthew Gregory, Joe Bamford and Simon Lovegrove discuss some of the key issues concerning HM Treasury's recent consultation on regulating the buy now pay later sector.

In this latest episode of our podcast series, Let's talk asset management, Cyril Clugnac and Simon Lovegrove discuss the European Securities and Markets Authority's final guidelines on funds' names using ESG or sustainability-related terms. The guidelines apply from 21 November 2024.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Floortje Nagelkerke from our Amsterdam office discusses payment for order flow.

In our latest podcast, our global Financial Services team discusses promotional messages on social media platforms, covering recent regulatory and enforcement developments in the UK, US and Dubai, as well as practical steps that global firms can be taking now in this area to manage their risk. This is a two-part podcast series on Navigating Communications – the first of our podcasts covered navigating off-channel communications and is also available now via our Global Regulation Tomorrow podcast page.

In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Anna Carrier from our Brussels office discusses the recent changes to the European Regulation on wholesale energy market integrity and transparency (REMIT 2). In particular we cover: • The key changes to the Regulation. • Cross-border impact. • Algorithmic trading in wholesale energy markets. • Data reporting.