Law360: Britain's competition enforcer is planning to appeal a tribunal's ruling that reverseed more than £100m (approximately US$128.6m) in fines against several drug companies for allegedly reaching agreements that increased the price of hydrocortisone tablets.

Law360: The government could be considering the removal of tax breaks on workplace pensions salary-sacrifice plans, experts have warned, as part of an effort to increase revenue in the next budget.

MLex: Guidance on the UK’s new failure to prevent fraud offence is set to be published in the next three months, meaning the offence could become law by April next year, MLex has learned. The previous government had hoped to have the new law effective by the end of this year, before publication of the guidance was delayed due to the election.

Mlex: The UK’s new failure to prevent fraud offence is part of a drive to change culture within firms and get to grips with those corporates who profit from the crime, a Serious Fraud Office (SFO) official said today.

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note contains guidance on the tax reliefs that were available for both British films and televisions programmes that were made or in development before 1 April 2025. From 1 January 2024, the tax relief system was replaced by a new tax credit scheme called audiovisual expenditure credit (AVEC). However, productions made or still in development before 1 April 2025 may continue to claim the previous tax reliefs until 31 March 2027. New productions which start from 1 April 2025 onwards are only entitled to claim AVEC. This Practice Note focuses on the preceding scheme and not on the AVEC scheme. For guidance on AVEC, see Practice Note: The UK film and television audiovisual expenditure credit scheme. In the UK, creative sector tax reliefs are available under the Corporation Tax Act 2009 (CTA 2009) for both British films and television programmes. This Practice Note covers: the creative sector

MLex: A review of the UK Senior Managers and Certification Regime (SM&CR)—a set of regulations to ensure the accountability of executives and staff in key functions with financial services firms, has been expected for months. Financial regulators are understood to be ready to publish a commitment to consult on the matter after a review of the topic was conducted in 2023, but plans have been delayed by the finance ministry.

MLex: The UK finance ministry has said it wants to intervene in the Supreme Court's three-day hearing over a major judgment on the mis-selling of car finance. The ministry fears that an outcome in favour of consumers would undermine Britain’s regulatory framework, and would damage the country's reputation as a place to do business.

MLex: A new UK financial services bill is expected to be unveiled on 13 May 2026 as part of government plans for the coming parliamentary session. It's likely to feature reforms the Labour party has already pledged but that require legislation, including to the financial industry's redress system, accountability regime for senior executives and the payments regulator. What else might be included is much less certain.

Insurers must negotiate a patchwork system of financial and trade sanctions. In the UK, the primary responsibility for administering the financial sanctions framework is taken by HM Treasury, acting through the Office of Financial Sanctions Implementation (OFSI). The Department for Business and Trade is responsible for administering trade sanctions through the Export Control Joint Unit (which is responsible for the UK's system of export controls) and the Office of Trade Sanctions Implementation (OTSI) (which is responsible for the civil enforcement of most trade sanctions which relate to the movement of goods involving UK companies which do not cross the UK border). The Department for Transport administers shipping-related sanctions and the Foreign, Commonwealth and Development Office is responsible for setting overall UK sanctions policy. The trade and financial sanctions regime incorporates decisions of the United Nations Security Council, as well as unilateral UK sanctions and measures equivalent in effect to financial sanctions, such as those imposed under the Anti-terrorism, Crime and Security Act 2001. The UK's sanctions framework is established by the Sanctions

Mlex: A recent ban for a company director who lied about a serious violent crime has been a reminder of the UK Financial Conduct Authority (FCA)’s drive to act against non-financial misconduct, whether at work or outside. But a lack of codified guidance has led to firms adopting different tolerances and, in some cases, sweeping allegations of serious misconduct under the carpet. That is set to change with fresh guidance from the regulator due early in 2025.

MLex: The UK's financial services regulator is under relentless pressure to cut red tape and think of ways to lighten the regulatory burden to help grow the economy. But it's hampered by government unwillingness to steer what it does, or, crucially, how much risk it can take. The Financial Conduct Authority (FCA) is taking incremental steps that could grow the industry and even feed into the wider economy, but radical change is unlikely.

MLex: The Financial Conduct Authority (FCA) has set out its priorities for capital market reforms over the next months. Having implemented the UK listing regime last July 2024, the regulator will now engage with the industry to change the rules on the disclosures required from companies when seeking to admit securities to a regulated market, Sarah Pritchard, executive director of markets and international, said during an event in London. The FCA also said it will work together with the government to create an intermittent trading venue for private companies wishing to go public temporarily, also known as the Private Intermittent Securities and Capital Exchange System (PISCES).