Regulatory issues

Copyright © 2025 LexisNexis

Financial Services

The Financial Services and Markets Act 2000 (FSMA 2000) was introduced as a general framework for financial services legislation and regulation in the UK. As part of government proposals to overhaul the UK financial services regulatory structure, the Financial Services Authority was disbanded on 1 April 2013 and its functions were split between the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), FSMA 2000 was retained as the primary legislation for the UK financial services industry.

FSMA 2000 regulates activities relating to investments, including shares and rights to acquire shares, and is therefore relevant where share incentives are offered by a company to its employees. Under FSMA 2000, a person is prohibited from carrying on a regulated activity in the UK, or purporting to do so, unless authorised or exempt. Failing to comply with this general prohibition is a criminal offence, and may also result in agreements which are entered into in contravention of FSMA 2000 being unenforceable against other parties without a court order or the permission of the FCA. For a a general overview of FSMA 2000, see Practice Note:

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Existing user? Sign-in TAKE A FREE TRIAL
Powered by Lexis+®
Latest Share Incentives News

Share Incentives weekly highlights—3 July 2025

This week's edition of Share Incentives weekly highlights includes: (1) HMRC’s publication of its employee share schemes statistics for the tax year ending 2024, (2) the new QCA Remuneration Committee Guide and (3) the case of Marlborough DP Limited v HMRC [2025] EWCA Civ 796.

Share Incentives weekly highlights—26 June 2025

This week's edition of Share Incentives weekly highlights includes: (1) a reminder of the 6th July filing deadline for annual share schemes returns to HMRC, (2) the Private Intermittent Securities and Capital Exchange System (Exemption from Stamp Duties) Regulations 2025 coming into force and (3) the case of Tonkin v Revenue and Customs Commissioners [2025] UKFTT 750 (TC).

Share Incentives weekly highlights—19 June 2025

This week's edition of Share Incentives weekly highlights includes: (1) a focus on executive pay, as the AGM season continues and (2) a new Q&A which considers whether business asset disposal relief can be available where an EBT trustee is holding shares as bare trustee for an employee.

Data (Use and Access) Bill to receive Royal Assent on 19 June 2025

The Data (Use and Access) Bill (DUA) is set to receive Royal Assent and become an Act of Parliament on Thursday 19 June 2025. This follows its parliamentary review being finalised on 11 June 2025 and marks the culmination of nearly eight months of parliamentary procedure. Under section 142 of the DUA, most provisions will come into force as and when the Secretary of State appoints regulations. However, a limited number of provisions will come into force upon Royal Assent. This includes section 78, which relates to reasonable and proportionate searches for data subject access requests. It also includes sections 126–128 on the retention of biometric data, and schedule 16 on the grant of energy smart meter communication licences.

View Share Incentives by content type :  
News
Practice notes
Precedents
Q&As

Popular documents

Financial Services and Markets Act 2000 and the operation of employee incentive arrangements in the UK

Financial Services and Markets Act 2000 and the operation of employee incentive arrangements in the UKThe Financial Services and Markets Act 2000 (FSMA 2000) is the principal legislation governing the financial services sector and regulating securities and investments in the UK and has a number of

Shares for non-executive directors—issues and considerations

Shares for non-executive directors—issues and considerationsMeaning of ‘non-executive director’The general definition of ‘director’ is not exhaustive. The Companies Act 2006 (CA 2006) provides that the term director includes any person occupying the position of director, by whatever name called.

If a rentcharge is shown as being informally exonerated on title information, does this apply to the

If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
Financial Services and Markets Act 2000 and the operation of employee incentive arrangements in the UK

Financial Services and Markets Act 2000 and the operation of employee incentive arrangements in the UK

Financial Services and Markets Act 2000 and the operation of employee incentive arrangements in the UKThe Financial Services and Markets Act 2000 (FSMA 2000) is the principal legislation governing the financial services sector and regulating securities and investments in the UK and has a number of

Shares for non-executive directors—issues and considerations

Shares for non-executive directors—issues and considerations

Shares for non-executive directors—issues and considerationsMeaning of ‘non-executive director’The general definition of ‘director’ is not exhaustive. The Companies Act 2006 (CA 2006) provides that the term director includes any person occupying the position of director, by whatever name called.

If a rentcharge is shown as being informally exonerated on title information, does this apply to the

If a rentcharge is shown as being informally exonerated on title information, does this apply to the

If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some

Late payment penalties—inheritance tax

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid