FCA is taking forward re­com­mend­a­tions from the Investment Research Review and feedback to CP24/21.  These affect UCITS management companies, full-scope AIFMs and small authorised UK AIFMs and residual collective investment scheme operators.  Rules have been implemented which allow fund managers to pay for research with a joint payment option.  Firms that decide to take up the joint payment option are told to familiarise themselves with the final rules on joint payments in COBS 18 Annex 1 and relevant rules in COLL for authorised funds.

Fol­low­ing its decision to delay the im­ple­ment­a­tion of Basel 3.1, PRA has reconsidered the timeline to finalise the policies consulted on in CP13/24 and now intends to publish final policy relating to its credit quality steps mapping proposals in a PS in H2 2025.  PRA expects to implement final policy for in­sur­ance-re­lated credit quality steps mapping no earlier than 1 January 2026.

This report details the collection and spend of Economic Crime Levy fund­ing.

A transcript of the hearing held on 7 May 2025 attended by rep­res­ent­at­ives from ABI, AFME and UK Finance has been pub­lished.

The EC has launched calls for evidence in respect of the proposed regulation and directive announced in the Savings and Investments Union Strategy.  Responses are required by 5 June 2025.