The Financial Markets Law Committee (FMLC) has published a paper on the governing law and jurisdiction of digital assets. It follows on from a 2018 paper, incorporating developments such as the Law Commission’s work in this area and UNIDROIT’s project on digital assets and private law, and makes recommendations on how conflict of law rules should develop.

The Financial Markets Law Committee (FMLC) has published a paper, 'The Rule in Gibbs: Exploring its value and practical use in the financial markets as a guarantor of legal predictability'. The paper analysed the alternatives to the Rule in Gibbs, including Article X of the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments and how these differ to the current position under English law. The paper concluded that removing the Rule in Gibbs is likely to introduce legal uncertainty into a large number of English law governed financial contracts which would impact the risks associated with these transactions. The FMLC highlighted that further proposals to alter this rule should contain safeguards which ensure continued certainty for financial contracts.

The Financial Markets Law Committee has published a paper for pension fund trustees on their fiduciary duties in the context of sustainability and climate change. The paper is intended to provide trustees with a general explanation of their legal position and the legal uncertainties and difficulties that have come to exist in this area such as climate change-related risk, factors affecting investment decisions, stewardship of investments and matters to consider when forming an investment strategy. While the paper is for pension fund trustees, it is also relevant to advisers, investment and fund managers, beneficiaries and employers, insurers and investees.

The Financial Markets Law Committee (FMLC) has published a report on treatment of security charges in favour of clearing houses and settlement systems under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, SI 1999/2979 (SFRs).

The Financial Markets Law Committee (FMLC) has published its response to HM Treasury's draft Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, published on 29 April 2025.

The Financial Markets Law Committee (FMLC) has published a response letter addressing the Law Commission’s consultation paper on digital assets and private international law. In its letter, the FMLC has criticised the Commission’s broad, factor-based approach in determining the governing law in digital asset property disputes. Instead, the FMLC advocates for the adoption of clear and consistent rules, building on its 2024 recommendations for a statutory framework. The letter stresses that legal certainty is crucial for the financial market's adoption of digital assets, especially as the UK plans to bring cryptoassets within its regulatory scope in 2026.

The Financial Markets Standards Board (FMSB) has published the Transparency Draft of its updated Statement of Good Practice for Front Office Supervision of Wholesale Traded Markets. Responses are sought by 15 November 2024.

The Financial Markets Standards Board (FMSB) has published its workplan for 2025. This outlines the FMSB's focus areas which include reducing uncertainty and ambiguity in market practices, bridging gaps between regulation and market developments, responding to financial market threats or trends, and strengthening international market standards. The workplan covers ongoing projects and potential new topics across the FMSB's five Committees: Market Practices, Electronic Trading and Technology, ESG, Conduct & Ethics, and Post-Trade.

The Financial Markets Standards Board (FMSB) has published its final ‘Standard for Client Onboarding: Documentation and Process’ and related Annexes. The Standard seeks to harmonise the data and documents required from clients, as well as codifying elements of best practice in the interaction between clients and onboarding firms, to create greater efficiency. Drafted to allow onboarding firms to continue to fully apply the UK’s Risk Based Approach to KYC, the Standard provides more granular guidance for the practical implementation of the UK Money Laundering Regulations (UK MLRs). The FMSB will continue to monitor developments in the UK MLRs and other applicable regulation and guidance and update the Standard as required.

The Financial Markets Standards Board (FMSB) has published a Statement of Good Practice on the governance of sustainability-linked products (SLPs) to establish globally applicable standards. The guidance comprises six key statements of good practice and is supported by a Risk Register that identifies major risks and recommends mitigants aligned with existing guidance from bodies such as the International Capital Market Association (ICMA), the Loan Market Association (LMA), and the International Swaps and Derivatives Association (ISDA). The initiative addresses concerns over the credibility and robustness of SLPs, including issues related to greenwashing, and is intended to enhance the robustness and consistency of governance frameworks for SLPs and thereby boost market confidence, investor trust, and the role of SLPs in transition finance and the decarbonisation of the economy.

The Financial Markets Standards Board (FMSB) has published a statement of good practice (SoGP) on unauthorised trading frameworks in Transparency Draft for industry consultation. The draft is intended to help establish practical foundations for oversight and controls for unauthorised trading, and to support more consistent expectations among firms and regulators regarding the frameworks needed to address such activity. It follows FMSB’s earlier work on front office supervision and reflects input from FMSB members, including buy-side and sell-side firms, as well as contributions from the global regulatory community. Responses are sought by 15 September 2025.

The Financial Markets Standards Board (FMSB) has published its final Standard for Sharing of Standard Settlement Instructions (SSIs), aiming to enhance the adoption of electronic solutions for standardising and pre-authenticating settlement instructions, facilitating straight-through-processing, and improving SSI management efficiency to reduce settlement failures. When electronic solutions are not feasible, the Standard provides templates for manual sharing of SSIs, designed with ISITC(headquartered in North America and formerly known as the International Securities Association for Institutional Trade Communication) and based on ISO 20022 taxonomy to minimise ambiguity and automate data ingestion.