Insights

HM Treasury’s consultation, which was published on 12 February 2026, outlines significant reforms to the UK Appointed Representatives (AR) regime. The proposals aim primarily to strengthen governance, accountability, and consumer protection within the current UK AR regime, ultimately creating better outcomes for consumers, which is one of the FCA’s top priorities.

The journey towards a fully regulated UK cryptoasset framework continues at pace. The Financial Conduct Authority (FCA) has provided more information on the authorisation process and how the application gateway will operate when it opens on 30 September 2026, with the regime becoming fully operational from 25 October 2027.

As Separately Managed Accounts (SMAs) continue to gain traction among sophisticated allocators, regulatory considerations for UK-based investment managers are becoming central to both commercial strategy and operating models. Questions around MiFID “top-up” permissions, capital and liquidity impacts, and valuation frameworks are no longer peripheral; they are now integral to structuring decisions.

In March 2026, the Financial Conduct Authority (FCA) published a series of Regulatory Priorities reports with a clearer and more consistent approach to communicating sector specific expectations. Replacing the former portfolio letters, these reports set out the FCA’s supervisory and policy priorities for the year ahead, helping firms understand where to focus their efforts and how to align with regulatory direction.

The UK is an attractive jurisdiction for overseas investors looking to diversify their portfolios and this is a trend we are seeing more broadly. However, for US taxpayers, additional care is required to ensure your investments remain tax efficient in both the UK and the US.

When a divorce involves a share in a private company, a partnership, or an LLP, getting the value right matters. The parties to the divorce, as well as the Family Court, must first understand what assets exist, and how much they are worth, before deciding how they should be divided, particularly as business interests are often the most valuable assets in the marriage. As such, reliable business valuations are crucial to deliver fair settlements.

Financial compliance and reporting are a constant responsibility for academy trusts. Beyond meeting regulatory requirements, the most successful trusts work towards financial excellence. To support you in achieving this, we’re pleased to share our 2026 benchmarking report.

HMRC updated its detailed tax guidance for charities this week. If you’re a charity trustee, finance manager, or adviser, here’s what you need to know about what these changes might mean for you.