Briefing Paper: Acquisition Finance

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.

The Financial Conduct Authority has released comprehensive perimeter guidance for the UK's new regulated cryptoasset activities regime, clarifying when firms will need authorization and how the regulatory framework applies to qualifying cryptoassets and stablecoins. The guidance addresses critical questions about scope, territorial application, and the narrower "by way of business" test that determines which entities fall under the new regulatory requirements.

In July 2017, the FCA published its Enforcement annual performance account for 2016/17.

The Financial Conduct Authority has released a comprehensive package of regulatory updates and findings covering investment management, wealth management, and consumer protection. Key developments include reforms to MiFID costs and charges disclosures, remuneration code changes, AIFM regime overhauls, and detailed reviews of firms' Consumer Duty compliance, financial crime controls, and governance frameworks.

Challenger banks have achieved a great deal of success since they burst on the scene in a big way a decade or so ago to vie with traditional retail banks for a share of the market.

On November 25, 2015, the Financial Conduct Authority fined Barclays Bank plc £72,069,400 for failing to minimize financial crime risks appropriately.

The London Stock Exchange has implemented sweeping reforms to the AIM Rules, fundamentally reshaping admission requirements, transaction thresholds, and governance obligations for companies on the Alternative Investment Market. These changes eliminate longstanding requirements like working capital statements and corporate governance codes while introducing new features such as capital access windows and special voting shares, marking the most significant overhaul of AIM regulations in recent years.

As widely anticipated, the Bank of England voted last week to hold Bank Rate at 3.75%. Whilst markets had expected the decision, it is noticeable that the Monetary Policy Committee (MPC) moved from a 7-2 decision, to a 6-3 one, with three members favouring a 0.25% increase. The move demonstrates the continued uncertainty around the UK’s inflationary environment, particularly in light of geopolitical tension, tariffs and trade disruption and political change, and their combined impact on global energy prices and the wider economic outlook.

This weekly bulletin examines critical developments in UK financial regulation, including the FCA's findings on systemic operational resilience from its Defence, Security, and Resilience Lab exercise, the government's comprehensive consultation on modernising corporate reporting frameworks, and progress on the Financial Services and Markets Bill through Parliament. The bulletin also covers international regulatory updates on cyber resilience for financial market infrastructures, sustainable finance disclosu

The Financial Stability Board warns of frontier AI cyber risks and market leverage concerns, while UK and EU regulators advance new frameworks for operational resilience, payment innovation, and investment firm reclassification. Major enforcement action sees Citibank penalized over £4.7 million for Russia sanctions breaches, highlighting the critical importance of advance risk assessment and robust controls.

The European Union ("EU") has updated various sanctions regimes, including those against Afghanistan, Burundi, the Central African Republic, Côte d'Ivoire, Democratic Republic of Congo...

In December last year, the Court of Appeal determined in Churchill v Merthyr Tydfil CBC that there was judicial support for ordering alternative dispute resolution (ADR)...

Belgium has introduced public Country-by-Country Reporting ("public CbCR") through the law of 8 January 2024 amending the Belgian Code of Companies and Associations...

In 2021, the French drug agency determined that the stocks of hundreds of specific pharmaceutical products must be maintained by pharmaceutical companies at a level equivalent to 4 months of coverage...

Article was first published in French in Revue Banque n°815-816, January 2018. French Article: Codes conventions miniers en afrique francophone

We see that Sir Ivan Rogers, Britain's ambassador to the EU, is reported as saying that it could take until the mid-2020s to get a UK-EU trade deal in place.

Western countries are increasingly focussed on the effective implementation of their sanctions regimes.

Adhesion contracts are contracts that are characterized by a lack of equality between the parties where one party typically dictates the contractual terms to the other party.

Issuing e-money and performing a payment service in the UK are both regulated activities which can only be undertaken by firms which are appropriately authorised, registered (as a small provider) or are exempt.

Fieldfisher's latest webinar explores new data subject rights under the EU AI Act, differences from GDPR, and compliance deadlines, helping businesses prepare for evolving European data regulations.