Since coming into force on 31 July 2023, the FCA’s Consumer Duty has raised complex questions about scope and compliance, especially for wealth managers given the complexities of their businesses and diverse client profiles. Recent publications at the end of 2025 include a consultation on targeted clarifications to the FCA Handbook and fresh supervisory guidance, with a further consultation on the Duty’s scope expected in early 2026.

Sustainability is rising rapidly up the pensions agenda because of a mix of changing law, regulatory guidance, and growing demand from pension scheme members and other stakeholders.

It continued to be a busy H2 for deals at Travers Smith, and in this note, we bring you the M&A, Private Equity and ECM trends we have been seeing in the UK market during this period. Get in touch with one of the contacts listed or your usual Travers Smith contact to find out more.

The Financial Conduct Authority (FCA) and the Pensions Regulator have issued a new joint consultation on their long-awaited value for money (VFM) framework for workplace defined contribution (DC) pension schemes.

The revised plans aim to take effect from 2028 and follow industry criticism of the FCA's original proposals issued in 2024. The Regulators have softened some measures, but the core principles stand.

Travers Smith LLP is delighted to announce the promotion of two lawyers to Senior Counsel, effective from 1 January 2026.  

Travers Smith LLP has advised FourLeaf Capital on its majority investment in Meaco, the UK's leading provider of award-winning air treatment and in-room climate control products.

Travers Smith LLP has advised new client Summa Equity ("Summa") on the acquisition of Peoplesafe, a leading work force safety provider, from ECI Partners and management.

In a judgment handed down on 5 January 2026, the Court of Appeal dismissed a multi-million-pound professional negligence claim against law firm Lupton Fawcett ("LF").¹

Travers Smith LLP has worked with leading German law firm Noerr to advise AEQUITA on the English law aspects of its acquisition of the European petrochemicals business of Saudi Basic Industries Corporation (SABIC).

Travers Smith LLP has advised long-standing client ITRS, a leading provider of real-time IT monitoring and observability solutions for financial services and regulated industries backed by Montagu Private Equity and TA Associates, on its acquisition of IP-Label, a premier Digital Experience Monitoring ("DEM") provider headquartered in France.

Complex new rules governing consumer subscription contracts in the UK are expected to come into force in Autumn 2026. We explain what the legislation requires and what businesses should be doing to prepare.

A regular briefing for the alternative asset management industry. 

Welcome to the January 2026 edition of Travers Smith’s Quarterly Listed Company Update. This issue highlights the latest regulatory developments and guidance relevant to listed companies, as well as key trends and practical points for consideration in the coming months.