AREF News

The FCA is planning to implement a new product information regime for Consumer Composite Investments. In April 2025 they published a second consultation on some remaining issues to support the regime.

ESMA has published its final reports on draft regulatory technical standards and guidelines for liquidity management tools under the revised AIFMD and UCITS Directive.

As part of its Savings and Investment Union strategy, the European Commission is gathering feedback from stakeholders on obstacles to financial integration across the EU.

View a summary on the policy work being undertaken by regulators and governments on funds' liquidity management.

HM Treasury and the FCA are consulting on changes to the AIFM regime in the UK. Find out more about this here.

The FCA have published their response to their a discussion paper on firms' sustainability-related governance, incentives, and competencies. They have introduced some rules relating to themes in the paper and have no plans to introduce any more. More details can be found here.

RICS published a survey in February/March 2025 to understand how the UK VPS 3 valuation standards, within their 2023 edition of the UK National Supplement to the Global Red Book, are impacting stakeholders and to provide insight into the future direction of RICS. AREF's response to the survey and UK National Supplement can be found here.

Click here for details about the work by regulators and governments on ensuring good governance by ESG ratings and data products providers.

The Government are implementing a Building Safety Levy. Click here for more details.

In February 2025, legislation for an unauthorised co-ownership contractual scheme, the Reserved Investor Fund (RIF), and tax regulations for the RIF were laid in Parliament and will come in force in mid-March 2025; more details can be found by clicking here.

In March 2025, the FCA and PRA confirmed that they are not taking their work on diversity and inclusion in the financial sector any further. More details about this can be found here.

Find out more here about the FCA's Sustainability Disclosure Requirements (SDR) and investment labels regime.

Click here to learn more about regulation and guidance in relation to the Long-Term Asset Fund (LTAF) and read about AREF's event looking at the future of the LTAF. The model LTAF Instrument of Incorporation and model LTAF Co-Ownership Deed for ACS can be found here too.

AREF has responded to the Financial Reporting Council's consultation on significant updates to the UK Stewardship Code.

The Law Commission are reviewing Part 2 of the Landlord and Tenant Act 1954 with a view to modernise commercial leasehold legislation. AREF has responded to their initial consultation on this which considers the right to renew business tenancies.

AREF has responded to IOSCO's consultation on Revised Recommendations for Liquidity Risk Management for Collective Investment Schemes.

AREF has submitted a response to HM Treasury consultation on a UK Green Taxonomy. More details can be found here.