HM Treasury (HMT)and the Office of Financial Sanctions Implementation (OFSI) have released an advisory concerning the Oil Price Cap (OPC) regime. The guidance specifically addresses evasion strategies involving the manipulation of product origin through the use of fabricated and falsified Certificates of Origin (CO). This advisory aims to alert relevant parties to the risks associated with such practices and to enhance compliance efforts within the oil trade sector.

HM Treasury has issued guidance for sustainability reporting for 2023-2024, focusing on environmental and climate performance in central government annual reports. The guidance incorporates the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and mandates the phased implementation of TCFD-aligned disclosures starting in 2023-2024. Emphasising flexibility, transparency, accountability, and alignment with climate targets such as the Greening Government Commitments and Net Zero, the guide aims to inspire organisations to improve their disclosures. It outlines minimum disclosure requirements, offers good practice examples, and highlights key reporting frameworks such as the Government Financial Reporting Manual (FReM), Sustainability Reporting Guidance (SRG), and TCFD-aligned disclosure guidance. Principles for effective disclosure include presenting relevant information, being specific and complete, and ensuring consistency over time.

HM Treasury and the Japan Financial Services Agency have issued a joint statement following the 3rd Financial Regulatory Forum held on 30 January 2025 in London. The forum concentrated on sustainable and climate finance, asset management, capital markets, digital finance, and international financial stability. Both countries stressed the importance of collaboration in these areas, including the regulation of cryptoassets and the role of artificial intelligence (AI) in financial services.

The HM Treasury's Office has issued two general licences under the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. General Licence INT/2025/5635701 authorises a wind-down period for positions involving Gazprom Neft, PJSC Surgutneftegas, and their controlled entities. Concurrently, General Licence INT/2025/5635700 permits the continuation of business operations with the Relevant Subsidiary, specifically in relation to Exempt Projects. These licences demonstrate ongoing adjustments to the UK's sanctions regime against Russian entities in the oil sector, balancing restrictions with allowances for specific activities.

HM Treasury has established the National Infrastructure and Service Transformation Authority (NISTA), to take effect from 1 April 2025, merging existing infrastructure bodies to streamline project delivery. The new authority combines infrastructure strategy and delivery functions previously split between separate agencies, alongside publishing the Teal book as a project delivery guide. Jean-Christophe Gray has been appointed interim chief executive, with National Infrastructure Commission Commissioners forming an Advisory Council.

HM Treasury has launched an eight-week consultation on the proposed design and operation of the High Value Council Tax Surcharge, which is intended to apply to residential properties in England valued at £2 million and above from April 2028. The surcharge was first announced at Budget 2025 and the government stated that it is expected to affect fewer than 1% of residential properties while raising approximately £430 million annually to support local government services.

The government and the Financial Conduct Authority (FCA) are working together on a new targeted support regime which would enable the FCA or Prudential Regulation Authority (PRA) to allow regulated pension providers to provide more support to consumers on investments and pensions by making recommendations that are designed for groups of consumers with similar characteristics and circumstances. As part of these reforms, HM Treasury (HMT) is consulting on the provisions of the draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025 (draft Regulated Activities Order), whose aim is to create a new specified activity of providing targeted support and to ensure that where an authorised firm provides targeted support it is not ‘advising on investments’ under Article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO). The draft Regulated Activities Order should be considered together with the FCA’s consultation paper CP25/17 ‘Supporting consumers’ pensions and investment decisions: proposals for targeted support’ and draft rules published on 30 June 2025.

HM Treasury has launched a public consultation on the draft legislation that aims to bring Buy-Now Pay-Later products (BNPL) into regulation. These plans aim to ensure consumers using BNPL products receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise. This new consultation responds to feedback HM Treasury received to its previous consultation that ran in the period February–April 2023. Responses are due by 29 November 2024.

HM Treasury has launched a consultation on proposals to reform the Consumer Credit Act 1974 and accompanying statutory instruments. The Government aims to modernise a regulatory framework it describes as overly complex and unsuited to current market conditions, technology, and consumer behaviour. Consultation on reform will be delivered in two phases: Phase 1 sets out the overall vision and seeks feedback on changes to information requirements, sanctions, and criminal offences; Phase 2 will address consumer rights, the scope of regulation, key definitions, and necessary amendments to existing legislation, including the Financial Services and Markets Act 2000. Policy work on both phases will be carried out prior to implementing any changes. Transitional provisions will be introduced to maintain legal certainty and fairness during the transition to the new regime. The proposals call for a simpler, more agile, proportionate and outcomes-based framework providing firms with greater  flexibility to achieve good consumer outcomes in line with the Financial Conduct Authority’s (FCA) Consumer Duty principle. Responses are sought by 21 July 2025.

The Chancellor of the Exchequer has announced the launch of the procurement process for the pilot Digital Gilt Instrument (DIGIT) issuance, leveraging distributed ledger technology (DLT). HM Treasury and the UK Debt Management Office have published additional information, engagement questions, and issued a preliminary market engagement notice through the contract finder service. This initiative aims to gather industry views to inform the development and delivery of the DIGIT pilot. The pilot aims to explore the application of DLT to UK sovereign debt issuance and catalyse the development of UK-based DLT infrastructure. Responses to the preliminary market engagement notice are sought by 13 April 2025.

HM Treasury has launched a voluntary repayment scheme, effective from 12 September 2025 until December 2025, allowing individuals and businesses to return funds received under coronavirus (COVID-19) schemes—including loans, grants, social security, and tax benefits—without any questions asked. This initiative is part of a wider effort to recover over £10bn lost due to pandemic-related fraud, flawed contracts and mismanagement, with £1.54bn already recovered.

HM Treasury has announced the launch of the Better Futures Fund, a £500m initiative to support up to 200,000 vulnerable children and young people across the UK over the next ten years. The fund aims to improve educational outcomes, reduce reoffending, and provide targeted support for children facing challenges such as exclusion, mental health issues, and crime. It forms part of the government’s Plan for Change, which prioritises early intervention and cross-sector collaboration to address systemic barriers. The fund will be matched by an additional £500m from local authorities, social investors, and philanthropists, creating a £1bn investment in long-term social impact. It will operate through Social Outcomes Partnerships, building on existing models such as the Greater Manchester Better Outcomes Partnership and programmes like AllChild and the Skill Mill, which have demonstrated success in improving school attendance, emotional wellbeing, and reducing reconviction rates.