Active Public Policy

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

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

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.

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.