US financial services regulation

The Practice Notes in this subtopic deal with financial services regulation in the United States. The financial services industry in the US is heavily regulated by a myriad of different regulators at the state and federal level. In the wake of the global economic crisis the regulatory regime underwent much change. Additionally, the US regulators consider themselves to have a broad jurisdictional reach

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Latest Corporate News

FCA fines and bans adviser for insider dealing

The Financial Conduct Authority (FCA) has fined Neil Sedgwick Dwane £100,281 and banned him from working in UK financial services for insider dealing. In 2022, while working as an adviser to ITM Power Plc, Dwane used inside information about a forthcoming market announcement to sell 125,000 shares worth £124,287 the day before the announcement. He later repurchased 180,000 shares worth £140,700 after the share price fell by approximately 37%, making a profit of £26,575 from the price difference. Dwane also failed to obtain ITM's required permission before dealing in its shares. The FCA stated that the penalty reflects a 30% discount under its Stage 1 settlement procedures; without the discount, the fine would have been £126,575 plus interest on the £26,575 profit obtained.

European Parliament rejects committee position on sustainability omnibus and delays vote

The European Parliament has rejected the mandate adopted by its Legal Affairs Committee (JURI) on the proposed sustainability omnibus package (Omnibus I) on 13 October 2025, with 309 votes in favour, 318 against and 34 abstentions. Members of the European Parliament (MEPs) will vote again on the amendments to the omnibus on 13 November 2025. Once Parliament adopts its position, it will then be able to begin negotiations with the Council of the EU, which adopted their position on 23 June 2025. The aim is to finalise the legislation by the end of 2025, however this timetable may be in doubt given the dispute over the Parliament’s negotiating mandate. The package comprises major proposed revisions to the Corporate Sustainability Reporting Directive (EU) 2022/2464 (CSRD) and the Corporate Sustainability Due Diligence Directive (EU) 2024/1760 (CS3D). It aims to simplify existing sustainability reporting and due diligence requirements, reducing administrative burdens on companies, while improving competitiveness.

FCA issues Primary Market Bulletin 58 and consults on updates to Knowledge Base ahead of POATRs implementation

The Financial Conduct Authority (FCA) has published Primary Market Bulletin 58 (PMB 58), where it outlines key steps for submitting documents before the new Public Offers and Admissions to Trading Regulations (POATRs) regime takes effect, including the process for submitting draft prospectuses, registration documents, universal registration documents and securities notes from 1 December 2025 for approval on or after 19 January 2026 via the Electronic Submission System (ESS). New forms and cross-reference checklists will be made available on or around 24 November 2025 to support submissions, and the final day for approvals under the existing regime will be Friday 16 January 2026.

Corporate weekly highlights—16 October 2025

This week's edition of Corporate weekly highlights includes HM Treasury’s establishment of the DEMAT to progress reforms to the UK’s shareholding framework, the publication of two SIs concerning the UK’s new prospectus regime, the European Parliament’s JURI committee adopting its position on a series of changes to corporate sustainability reporting and due diligence requirements, and a recent High Court ruling on director disqualification.