Finance Legislation

Laws governing financial services, banking regulation, insurance, investment, and securities trading.

Corrections to 2026 Anti-Money Laundering Rules

Published: Mon 20th Jul 26

This document issues technical corrections to the Money Laundering and Terrorist Financing (Amendment) Regulations 2026.

It amends specific cross-references within regulation 15 and regulation 26 to ensure the legal text accurately refers to the intended sub-paragraphs and numbered lists.

These corrections apply to the same financial institutions and reporting entities regulated under the original 2026 instrument.

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The Electricity Capacity (Amendment and Transitional Provision) Regulations 2026

These Regulations amend the framework governing the UK Electricity Capacity Market to increase financial security requirements and update administrative procedures.

The instrument raises the rates for termination fees and applicant credit cover, introduces new protocols for withholding payments following insolvency events, and permits the Gas and Electricity Markets Authority to alter the timetable for supplier charge reconciliation.

The measures apply to the Delivery Body (National Energy System Operator), the Settlement Body (Electricity Settlements Company), and all capacity providers and electricity suppliers participating in the Capacity Market in England, Wales, and Scotland.

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The English Devolution and Community Empowerment Act 2026 (Commencement No. 2) Regulations 2026

This instrument brings into force several sections of the English Devolution and Community Empowerment Act 2026 on 15 July 2026, primarily affecting local authorities and pension scheme managers in England.

It establishes the Local Audit Office, mandates audit committees for Category 1 authorities, and introduces new requirements for cooperation between local government pension scheme managers.

The regulations also authorize the separation of pension scheme accounts and modify how smaller authorities are categorized for audit purposes when financial reviews are outstanding.

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The Carbon Border Adjustment Mechanism (Transitory Provision) Regulations 2026

These regulations establish temporary administrative rules for the introduction of the UK Carbon Border Adjustment Mechanism (CBAM) between January 2027 and June 2028.

They direct HM Revenue and Customs (HMRC) to apply modified registration deadlines, accounting periods, and payment dates for importers who trigger CBAM liabilities during the initial rollout.

The measures apply to any person or business importing carbon-intensive goods that fall under the scope of the Finance Act 2026.

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The Employment and Trading Income etc. (Loan Charge Settlement Scheme) Regulations 2026

These regulations establish the Loan Charge Settlement Scheme, providing a framework for individuals and corporate employers to settle liabilities arising from certain loans or quasi-loans treated as employment or trading income.

The instrument directs HM Revenue and Customs (HMRC) to identify eligible persons, calculate settlement offers using prescribed methodologies, and manage the collection of settlement amounts as Crown debts.

It applies to taxpayers liable for loan charge amounts under the Finance (No. 2) Act 2017, excluding those suspected of being tax arrangement promoters, and introduces specific inheritance tax exemptions for those who enter into a settlement agreement.

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The Climate Change Agreements (Administration, Energy-intensive Installations and Eligible Facilities) (Amendment and Revocation) Regulations 2026

These regulations update the administrative framework and eligibility criteria for the Climate Change Levy (CCL) reduction scheme, effective from 1 January 2027.

The instrument defines which energy-intensive installations and processes, ranging from chemical manufacturing to data centers and battery production, qualify for climate change agreements.

It directs the Treasury and the Secretary of State to oversee a revised list of eligible facilities while amending the formula used to calculate buy-out fees for participants who fail to meet energy efficiency or emissions targets.

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The Finance Act 2026 (Registration of Tax Advisers) (Exceptions) Regulations 2026

These Regulations expand the list of exceptions to the mandatory tax adviser registration regime established by the Finance Act 2026.

They exempt individuals acting as Import One Stop Shop (IOSS) representatives for Northern Ireland VAT, advisers dealing with taxes not payable to HMRC such as council tax, and those providing property valuations through the Valuation Office. The requirements apply to tax advisers interacting with His Majesty's Revenue and Customs, narrowing the scope of who must register under the national regime starting 17 August 2026.

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The Government of Wales Act 2006 (Increase of Capital Borrowing Limits) Order 2026

This Order increases the maximum amount of money the Welsh Ministers can borrow to fund capital expenditure.

It amends section 122A(1) of the Government of Wales Act 2006, raising the aggregate borrowing limit from £1,000 million to £1,100 million.

The Order applies to the Welsh Government and comes into force on 16 July 2026, extending to the whole of the United Kingdom to ensure the statutory change is recognized across all legal jurisdictions.

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