AREF News

The UK Government have published their Industrial Strategy for the next 10 years. Their Financial Services Growth & Competitiveness Strategy is expected to follow in mid-July 2025.

Click here for details about the work by regulators and governments on ensuring good governance by ESG ratings and data products providers.

HM Treasury and the FCA are consulting on changes to the AIFM regime in the UK. Find out more about this here and review AREF's responses.

The UK Government has published its final report on the first phase of the Pensions Investment Review and responses to two other related consultations. The Pension Schemes Bill was presented to Parliament on 5 June 2025.

The Law Commission are reviewing Part 2 of the Landlord and Tenant Act 1954 with a view to modernise commercial leasehold legislation. Click her for more details.

The Financial Reporting Council have published the UK Stewardship Code 2026 and are consulting on guidance.

The European Commission have put out a Call for evidence on SFDR. More details can be found here.

The Government have responded to their consultation on the treatment of DB scheme surpluses and a model for a public sector consolidator. Click here for more details.

The UK Government have published a policy paper on speeding up build out and alongside this they are consulting on measures to improve build out transparency and accountability.

IOSCO has published its final report on Revised Recommendations for Liquidity Risk Management for Collective Investment Schemes alongside its Implementation Guidance

The FCA have updated on their website details of responsibilities and how to oversee appointed representatives

Find out more here about the FCA's Sustainability Disclosure Requirements (SDR) and investment labels regime.

Read more about the policy work being undertaken by governments, regulators & standard setting bodies in relation to sustainable finance and climate-related disclosures.

The Digital Assets Innovation Summit is taking place on 2 July in London, as part of City Week 2025. As AREF is supporting this event, we are pleased to offer a discount.

The FCA is planning to implement a new product information regime for Consumer Composite Investments. In April 2025, they published a second consultation on some remaining issues to support the regime.

ESMA has published its final reports on draft regulatory technical standards and guidelines for liquidity management tools under the revised AIFMD and UCITS Directive.

As part of its Savings and Investment Union strategy, the European Commission is gathering feedback from stakeholders on obstacles to financial integration across the EU.

View a summary on the policy work being undertaken by regulators and governments on funds' liquidity management.

The FCA have published their response to their a discussion paper on firms' sustainability-related governance, incentives, and competencies. They have introduced some rules relating to themes in the paper and have no plans to introduce any more. More details can be found here.

RICS published a survey in February/March 2025 to understand how the UK VPS 3 valuation standards, within their 2023 edition of the UK National Supplement to the Global Red Book, are impacting stakeholders and to provide insight into the future direction of RICS. AREF's response to the survey and UK National Supplement can be found here.