Prudential requirements—credit institutions and systemically important investment firms

This Overview provides a guide to the Lexis+® UK Financial Services content within the Prudential requirements—credit institutions and systemically important investment firms subtopic with links to the appropriate materials.

EU CRD IV and EU CRR

The Capital Requirements Directive (Directive 2013/36/EU) (EU CRD IV) and the Capital Requirements Regulation (Regulation (EU) 575/2013) (EU CRR) (also known collectively as the EU CRD IV package) is the mechanism through which the EU implemented the global capital adequacy framework, Basel III. The CRD IV package of reforms was adopted and published in the first half of 2013, with implementation of the majority of provisions on 1 January 2014. As the EU CRD IV package comprised EU CRD IV and EU CRR, elements of the

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Latest Financial Services News

FCA's Jessica Rusu speech highlights AI innovation and Nvidia collaboration

The Financial Conduct Authority (FCA) has published a speech delivered by its chief data, information and intelligence officer, Jessica Rusu, at London Tech Week 2025. The speech outlines the FCA's five-year strategy to deepen trust, rebalance risk, support growth, and improve lives through the use of artificial intelligence (AI) and industry collaboration, notably with Nvidia. Rusu noted that the FCA has established an AI Lab with four components— AI Sprint, AI Input Zone, AI Spotlight and the ‘Supercharged Sandbox’—to evaluate the risks and opportunities of AI in financial services. Rusu also noted the introduction of AI Live Testing which allows firms to test AI models in a controlled, live setting during development. The speech highlights that the collaboration with Nvidia will enhance the Digital Sandbox by providing advanced GPU tools, software, and training resources. This partnership aims to support innovative companies in developing, refining, and scaling AI models. The speech further notes that the FCA is modernising its internal processes by digitising regulatory procedures and streamlining legacy systems to support the growth and competitiveness of the UK financial services sector.

FCA publishes final rules for the PISCES sandbox to allow trading in private company shares

The Financial Conduct Authority (FCA) has published policy statement PS25/6, establishing the final rules for the Private Intermittent Securities and Capital Exchange System (PISCES)—a new platform where shares in private companies can be traded on an intermittent basis. The platform will be delivered through a sandbox approach, allowing the FCA to test the design before finalising a permanent regime in 2030. The sandbox is now open and prospective operators should apply to the FCA for a PISCES approval notice. Once approved they will be able to run intermittent trading events.

Financial Services—other developments (10/6/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

FCA appoints Sarah Pritchard as new deputy chief executive

The Financial Conduct Authority (FCA) has appointed Sarah Pritchard as deputy chief executive to manage its expanding responsibilities, which now include oversight of the Payment Systems Regulator, regulation of stablecoin and crypto firms, and buy now pay later activities. Pritchard, who joined the FCA in June 2021, previously led the supervision, policy and competition division as well as the markets’ function, and has overseen reforms including the overhaul of the listing rules. In her new role, she will also be responsible for the FCA’s international work, supporting efforts to enhance UK growth and competitiveness.

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