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In AML & Financial Services Regulatory

United Kingdom: FCA aims to ease burden on sustainability reporting following review

by 6 Mins Read

The Financial Conduct Authority (FCA) has said following its recent multi-firm review of how its climate disclosure rules have been operating that it will look to “streamline and enhance” its sustainability reporting framework and has pledged to “simplify disclosure requirements”. This is welcome news for the industry and seems to be driven by feedback from the asset management sector that Task Force on Climate-related Financial Disclosures (TCFD) reporting rules are overly granular. There also seems to be a move towards consolidation across UK sustainability reporting frameworks as the FCA will consider the Sustainability Disclosure Requirements (SDR), International Sustainability Standards Board (ISSB) and transition planning going forward.

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In Cybersecurity, Data and Tech

European Union: General-purpose AI obligations under the EU AI Act kick in from 2 August 2025

by and 1 Min Read

2 August 2025 was an important deadline under the EU AI Act: obligations for providers of general-purpose AI (GPAI) models entered into force, provided the model is placed on the market on or after this date. The European Commission and EU AI Office have been gearing up for this deadline with recently released Guidelines for providers of general-purpose AI models (the Guidelines) and a final General-Purpose AI Code of Practice (the Code). The Code was subject to the Commission and the AI Board assessing its adequacy. The Commission confirmed the Code’s formal approval on 1 August. The Guidelines provide an interpretative framework for understanding the obligations of providers of general-purpose AI models, and the Code offers specific measures suggested by the Commission that providers can implement to demonstrate that they meet these obligations.

In ESG

United Kingdom: Government issues new modern slavery guidance on supply chain transparency

by and 1 Min Read

In March 2025, the Home Office issued a revised version of its statutory guidance “Transparency in Supply Chains” following the House of Lords Modern Slavery Act 2015 Committee’s report. This marks the first full revision of the guidance in nearly a decade. In an article for Compliance & Risk, Jon Tuck and David Yadid examine the current legal framework under the Act, unpack the key changes introduced by the new guidance, and consider their implications for businesses.

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In Employment

European Union: Specific regulation of technological impact on the workforce ahead?

by , , and 6 Mins Read

The Committee on Employment and Social Affairs of the European Parliament recently published a draft report on digitalisation, AI and algorithmic management in the workplace. It makes a number of recommendations including for a directive specifically regulating ‘algorithmic management’ in the workplace with protections extending to self-employed individuals in addition to workers. There are a number of steps in the EU legislative process before these proposals could become legally binding. Given their significance, including the broad definition of ‘algorithmic management’, impacted organisations should nevertheless monitor if and how they develop.

In Product Regulation & Liability

European Union tightens rules on e-commerce and non-EU product safety

by , , , and 1 Min Read

On 9 July 2025, the European Parliament (EP) adopted a resolution pressing for sweeping reforms in the e-commerce and imports sector, with a focus on consumer protection, product regulation, and unfair competition.1 The resolution sets out a series of measures, including calling for the swift implementation of the Digital Product Passport (DPP), strengthened customs enforcement through reform of the Union Customs Code (UCC), and the removal of the EUR 150 customs duty exemption for low-value consignments. The resolution will now be put submitted to the European Council and the European Commission for consideration.

In AML & Financial Services Regulatory

United Kingdom: FCA publishes rules for new prospectus regime

by , , , , , and 6 Mins Read

The Financial Conduct Authority (FCA) has published a policy statement (PS25/9: New rules for the public offers and admissions to trading regime) under which it sets out the rules for the new regime that will apply in respect of prospectuses. This follows the consultation process the FCA undertook via the previous publication of consultation papers CP 25/2 and CP 24/12. The Public Offers and Admissions to Trading Regulations 2024 (POATRs) will replace the UK Prospectus Regulation (UKPR). The POATRs are generally in line with the proposals consulted on, with some modifications to reflect feedback from market participants. The new rules will come into effect on 19 January 2026.

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In Product Regulation & Liability

European Union: EU restricts access of Chinese medical devices to the European market

by , and 7 Mins Read

For the first time, the European Commission completed an investigation under the International Procurement Instrument (IPI) and implemented measures to limit the participation of economic operators from non-EU countries – in this particular case, China – in the EU public procurement market. After EU suppliers of medical devices have arguably been denied fair access to Chinese government contract opportunities for years, the EU has now responded with Implementing Regulation (EU) 2025/1197 that requires contracting authorities/entities in all EU member states to exclude Chinese suppliers – and to a certain extent products manufactured in China – from larger public procurement contracts for medical devices.

In AML & Financial Services Regulatory

European Union: New draft decree on Open Finance | July 2025

by , and 3 Mins Read

In recent years, the European Union has intensified its efforts to combat the abusive use of corporate structures lacking real substance, particularly in the tax domain. In this context, the ATAD III Directive proposal emerged, aimed at limiting the tax benefits of so-called “shell companies”. Although its implementation would have significantly impacted holding entities such as Spanish ETVEs, the project was ultimately abandoned in June 2025. This document analyzes the scope of the proposal, its implications, and current recommendations for groups with international structures.

In Cybersecurity, Data and Tech

European Union: EU reaches agreement to streamline cross-border GDPR enforcement

by , and 4 Mins Read

In brief On 16 June 2025, the Council of the European Union and the European Parliament reached a political agreement on a new regulation introducing additional procedural rules for the enforcement of the General Data Protection Regulation (GDPR) in cross-border matters (“Regulation”). The new Regulation seeks to fix the delays and inconsistencies…

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