The Order amended the Regulated Activities Order to replace existing investment firm exemption criteria with options based on FCA-defined ancillary activity rules or annual thresholds, while also executing consequential updates following the revocation of an EU delegated regulation.

The Treasury enacted this Order using powers under the Financial Services and Markets Act 2000 to amend the Regulated Activities Order 2001, primarily by revising the exclusion criteria for firms dealing in commodity derivatives, emission allowances, and derivatives from the definition of an "investment firm." The amendment introduces the option for exclusion based on activities being ancillary to the firm's main business (assessed on a group basis) or falling below an annually determined threshold set by the Financial Conduct Authority (FCA), with the FCA granted rule-making powers to specify these conditions.

The Order also makes consequential amendments necessitated by the revocation of Commission Delegated Regulation (EU) 2017/592, establishing commencement dates across late 2025 and early 2027.

The Treasury amended the Customs Tariff (Establishment) (EU Exit) Regulations 2020 to update the reference version of the UK Tariff and adjusted specific import duty rates for basmati rice and preserved fruit products.

These Regulations amend the 2020 EU Exit Customs Tariff Regulations by updating the official version of the United Kingdom Tariff document, effective 15th December 2025.

The amendment specifically increases the import duty rate for specific codes of husked basmati rice from 0% to £25 per 1000kg and rectifies a previous error by restoring the 14% duty rate for jams, fruit jellies, and related products under heading code 2007 99 93.

The Regulations extended the expiry date of pre-existing transitional arrangements enabling Gibraltar and UK financial services firms to operate across borders by 12 months, postponing the 2025 deadline to December 16th, 2026.

The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2025, enacted by HM Treasury, exercise powers derived from earlier 2019 legislation to formally postpone the expiry date of existing transitional arrangements from 2025 to 2026 for specified categories of Gibraltar-based financial services firms operating in the UK, and vice versa.

These Regulations apply across England and Wales, Scotland, and Northern Ireland, and accompany an explanatory note confirming no significant impact assessment was required due to the minor, administrative nature of the extension.

The instrument amended the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020 to substitute the Republic of Korea Origin Reference Document to version 1.3, effective from 31st December 2025.

These Regulations, made by the Treasury with the recommendation of the Secretary of State under powers granted by the Taxation (Cross-border Trade) Act 2018, amend existing 2020 regulations to update the Republic of Korea Free Trade Agreement documentation.

Specifically, the amendment replaces the reference in Schedule 1 to the applicable origin reference document with version 1.3, dated 31st October 2025, to give effect to an exchange of notes between the UK and South Korea concerning the extension of cumulation of origin and direct transport provisions related to the European Union, and they come into force on 31st December 2025, extending across the whole of the UK.

This Order amended the 2025 Order by adjusting rules regarding credit broking exclusions for deferred payment agreements and providing transitional arrangements for existing regulated permissions.

The Treasury issues this Order to amend the Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025, which primarily addresses the regulation of deferred payment credit agreements, often termed "buy-now-pay-later" (BNPL) agreements.

Key amendments include excluding domestic premises suppliers from certain credit broking regulations related to these agreements and establishing transitional provisions to ensure that existing Part 4A permissions remain valid for the activities as they stand after the Order’s changes take effect on the regulatory commencement date.

HM Treasury enacted regulations establishing the framework for designating overseas financial recognition regimes, coordinating regulatory functions, and amending secondary legislation governing insurance and short selling.

The Financial Services (Overseas Recognition Regime Designations) Regulations 2025 establish the framework under which HM Treasury can designate the laws and practices of other countries or territories as equivalent to UK financial services and markets law, exercising powers granted by the Financial Services and Markets Act 2023.

The Regulations define what constitutes an 'overseas recognition regime designation,' grant the Treasury power to impose conditions, require decision-making coordination among the Treasury and key regulators (FCA, PRA, Bank of England), and introduce specific information-gathering powers.

Furthermore, the document amends existing legislation regarding insurance and short selling regulations to align them with this new designation regime.

The Treasury enacted UK regulations to implement the UK-Switzerland Mutual Recognition Agreement for financial services, establishing a register, setting regulator duties, and amending existing laws to facilitate market access for Swiss suppliers starting January 2026.

These Regulations, made by the Treasury using powers under the Financial Services and Markets Act 2023, establish the domestic legal framework necessary to implement the Mutual Recognition Agreement on Financial Services between the UK and Switzerland, effective from January 1st, 2026.

The core of the document details the registration process managed by the FCA for 'Registered Swiss Suppliers,' outlines supervisory and cooperation duties for the FCA, PRA, and Bank of England, and incorporates mechanisms for product intervention, information gathering, supervisory prohibitions, and prudential safeguards specific to services provided under this arrangement, alongside amending related UK legislation like the RAO and the Financial Promotion Order.

Legislation was enacted to provide tax exemptions and relief for compensation payments made under the Post Office Capture Redress Scheme, effective from late October 2025.

The Post Office Capture Redress Scheme (Tax Exemptions and Relief) Regulations 2025 implement tax relief measures for compensation payments made under the scheme designed to redress individuals adversely affected by the Post Office's 'Capture system.' These regulations, made by the Treasury under powers from the Finance Act 2020, specifically ensure that compensation payouts are exempt from Income Tax, Capital Gains Tax, and Corporation Tax, and provide relief from Inheritance Tax, applying these exemptions retrospectively to payments received or disposals made from October 27, 2025.