Regulatory reform

Regulatory reform

Overview

Although the UK is already widely regarded as an open and business-friendly economy, the UK Government is keen to build on that reputation, particularly following Brexit. Meanwhile, regulatory developments in the EU and elsewhere continue to have an impact on cross-border business activities. This page brings together all our latest materials on regulatory reform across all the areas on which we advise.  Use the search facility below to filter by reference to your areas of interest.

Note: this page is not intended to provide an exhaustive list of developments relating to regulatory reform.

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New FCA retail disclosure regime

The FCA has issued final rules for its new retail product disclosure regime: PS25/20: Supporting informed decision making: Final rules for Consumer Composite Investments.  The regime will supersede the existing UK PRIIPs KID and UK UCITS KIID disclosure obligations and is intended to usher in a more harmonised, flexible, proportionate and consumer friendly disclosure regime.  Those who have been following the consultation process are likely to be pleasantly surprised as the FCA has listened to feedback in a number of areas.

The UK’s new Cyber Security and Resilience Bill

The UK government has recently introduced the Cyber Security and Resilience (Network and Information Systems) Bill to Parliament, with the objective of strengthening the UK’s defences against cyber threats to systems most critical to daily life. Once in force (many of the substantive reforms will require secondary legislation to be brought into effect), this legislation will extend direct regulation to a broader range of organisations underpinning essential services and key digital services in relation to cyber compliance – including data centres, managed service providers and specifically designated "critical suppliers".

Opening the Door to Behavioural Fixes and Efficiency Claims? The CMA’s new Draft Guidance on UK Merger Remedies

The UK Competition and Markets Authority ("CMA") published its draft revised guidance on merger remedies on 16 October 2025 (the "Draft Guidance"), proposing updates to its approach to the selection, design and implementation of remedies in merger cases. The consultation is open until 13 November 2025, with final guidance expected to be in place later this year.

A (limited) win for the AI industry – no secondary infringement in landmark UK copyright case

At its outset, the case before the UK High Court in Getty Images v Stability AI looked set to provide a definitive outcome to the copyright debate dividing “two warring factions” (as the trial judge put it)—the creative industries and the AI industry. However, those hopes faded when Getty Images dropped its primary infringement claim at the end of the trial in June 2025, following insufficient evidence that Stability AI's generative AI model, Stable Diffusion, had been trained within the UK.

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