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BoE Speech reflects on post-crisis financial reforms and calls for adaptive regulatory approach

The Bank of England (BoE) has published a speech delivered by its governor, Andrew Bailey, reflecting on the financial system reforms implemented since the 2008 financial crisis and addressing current challenges to the regulatory framework. Bailey outlined three major changes in financial intermediation: rebalancing non-bank finance, increased interconnection between banks and non-banks through activities such as prime brokerage, and growth of crypto assets.

FCA publishes Handbook Notice No 133

The Financial Conduct Authority (FCA) has published Handbook Notice No 133, which includes changes to the FCA Handbook made by the FCA board on 31 July and 2 October 2025.

FCA updates travel insurance signposting rules for consumers with pre-existing medical conditions

The Financial Conduct Authority (FCA) has announced changes to its travel insurance signposting rules for consumers with pre-existing medical conditions, effective from 1 January 2026.

FCA publishes 2024/25 survey findings on regulated firm perceptions

The Financial Conduct Authority (FCA) and the Practitioner Panel have published findings from their 2024/25 joint survey of FCA regulated firms, conducted between 3 February and 31 March 2025. The survey shows firms rated FCA performance at 7 out of 10 for satisfaction, with 81% reporting trust levels remained unchanged from the previous year. Firms identified areas for improvement including supporting growth and competitiveness, reducing unnecessary data requests, and streamlining supervision correspondence. The FCA has responded by launching a new 5-year strategy and implementing measures including overhauling UK listings rules, reforming UK retail disclosure rules, improving workplace pension value, establishing an AI lab, and reducing data reporting requirements for over 36,000 firms.

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Complaints handling by financial services firms

Complaints handling by financial services firmsThe rules for how firms should deal with complaints by customers are contained in the Dispute Resolution: Complaints Sourcebook (DISP) in the Financial Conduct Authority (FCA) handbook.DISP 1 contains rules and guidance on how firms should deal with

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application