HM Treasury (HMT) is consulting on the Phase 3 Exposure Draft for Task Force on Climate-related Financial Disclosure (TCFD)-aligned disclosure in annual reports. The exposure draft addresses the recommended disclosures for the Strategy pillars of the TCFD framework. Responses are sought by 19 September 2024.

HM Treasury has published its response to the outcome of its consultation on the proposed Private Intermittent Securities and Capital Exchange System (PISCES), a new type of stock market for private company shares as part of the government's strategy to reinvigorate UK capital markets, along with draft legislation to establish the PISCES sandbox. The draft legislation will work alongside Financial Conduct Authority (FCA) rules to set regulatory requirements for PISCES. Responses are sought by 9 January 2025.

HM Treasury has published its response to the outcome of its consultation on the future regulatory regime for Environmental, Social, and Governance (ESG) ratings providers, detailing the scope of the proposed regulatory framework, along with related draft legislation. Responses and comments on the draft regulation are sought by 14 January 2025.

HM Treasury (HMT) has published for technical consultation a draft statutory instrument (along with a policy note) on reforming the regulatory framework for alternative investment fund managers, ‘streamlining the regulation to support growth and tailoring for UK markets’. Technical comments on the draft SI are sought by 14 October 2026.

HM Treasury (HMT) has published a near-final version of the Payment Services and Payment Accounts (Contract Terminations) (Amendment) Regulations 2024, which sets out rule changes on provider-initiated terminations of payment service contracts. An accompanying policy note has also been published. The government welcomes technical comments on the draft legislation by 14 April 2024, and intends to lay this legislation before Parliament in Summer 2024.

HM Treasury (HMT) has published a draft statutory instrument (SI): The Over the Counter Derivatives (Intragroup Transactions) Regulations 2026, to permanently establish certain intragroup over the counter (OTC) derivatives exemptions. The Draft SI is accompanied by a detailed policy note.

HM Treasury (HMT) has published guidance explaining how the UK digital identity and attributes trust framework interacts with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs 2017). The guidance defines what a digital identity is and confirms that certified digital identity services on the digital verification services (DVS) register can be used by regulated entities as part of customer due diligence, including verifying individuals and company directors. It highlights that while certified digital identity services provide reliable, independent information with anti‑impersonation assurance, entities must still assess customer risk, apply enhanced due diligence where necessary and meet record‑retention obligations. The guidance further explains that the trust framework, developed in 2020, sets technology‑agnostic and sector‑agnostic requirements for providers, with certification overseen by the United Kingdom Accreditation Service (UKAS) and maintained by the Office for Digital Identities and Attributes, while non‑certified services cannot be considered suitable for identity verification under the MLRs 2017.

HM Treasury (HMT) has published Policy paper – Financial Inclusion Committee: terms of reference. The Policy paper sets out the mission of the Committee which is to tackle barriers to individual and household’s ability to access affordable and appropriate financial products and services. The Committee’s objectives are to develop, coordinate and implement interventions to support financial inclusion in the UK, and advise the UK government on the development of its financial inclusion strategy. The Committee will be chaired by the Economic Secretary to the Treasury.

HM Treasury has published an interim report setting out proposals it is consulting on to deliver scale and consolidation of the Defined Contribution (DC) market and the Local Government Pension Scheme in England and Wales (LGPS). HMT has also published an analytical publication on investment supporting the announcement. Responses to the consultations are sought by 16 January 2025.

HM Treasury (HMT) has published the membership of the newly formed Social Impact Investment Vehicle Advisory Group. Chaired by former CEO of Allianz Investors and current Chair of Schroders, Dame Elizabeth Corley. The group comprises 12 experts from diverse backgrounds including impact investing, banking, philanthropy and local government. Members include Chair of the Impact Investing Institute, Kieron Boyle OBE and CEO of Charities Aid Foundation, Neil Heslop OBE. The advisory group, established following the Autumn Budget 2024 announcement, will convene monthly from January to June 2025 to guide the development of the new Social Impact Investment Vehicle aimed at mobilising private investment for positive social outcomes.

HM Treasury (HMT) has published a supervision report on anti-money laundering and countering the financing of terrorism (AML/CFT) for 2022-23, and updated its report on the period 2020-22.

HM Treasury (HMT) has published a policy explainer detailing changes to tax rates on property, savings and dividend income as announced at Budget 2025. HMT notes that the increases aim to ensure income from assets is taxed more fairly, as those receiving property, savings or dividend income do not pay National Insurance, and to narrow the gap between tax paid on work and income from assets. The paper notes that from April 2026, the ordinary dividend rate will rise from 8.75% to 10.75% and the upper rate from 33.75% to 35.75%, while the additional rate remains at 39.35%. From April 2027, the basic, higher and additional rates for savings income will increase to 22%, 42% and 47%, respectively, and separate tax rates for property income will be introduced at the same levels, with finance cost relief provided at the 22% property basic rate.