Finance Legislation
Laws governing financial services, banking regulation, insurance, investment, and securities trading.
The Private Intermittent Securities and Capital Exchange System (Exemption from Stamp Duties) Regulations 2025
These regulations, effective July 3rd, 2025, exempt stamp duties on PISCES share transfers occurring within a designated sandbox environment established under the Financial Services and Markets Act 2023.
The regulations define key terms like "PISCES," "PISCES sandbox arrangements," and "PISCES share" by referencing the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025.
An accompanying explanatory note clarifies the exemption's purpose and directs readers to a Tax Information and Impact Note for further details.
The Code Manager Selection (Competitive) Regulations 2025 establish a framework for the Gas and Electricity Markets Authority to competitively select code managers for designated documents.
The regulations detail eligibility requirements, conflict-of-interest provisions, selection criteria, notice publication procedures, and provisions for cancellation or disqualification.
The selection process includes an open or restricted procedure, with the Authority publishing notices at each stage and considering any representations received.
The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025
The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 amend Regulation (EU) 648/2012 to remove a time limit on the exemption of certain pension fund derivative contracts from the clearing obligation.
This eliminates the previous 18 June 2023 deadline, extending the exemption indefinitely.
The regulations were made by the Treasury, following consultation with relevant authorities.
A de minimis impact assessment accompanies the regulations, justifying the lack of a full impact analysis.
The Branded Health Service Medicines (Costs) (Amendment) Regulations 2025
The Branded Health Service Medicines (Costs) (Amendment) Regulations 2025 modify the 2018 regulations governing payments from manufacturers and suppliers of branded medicines.
Key changes include altering payment percentages for different periods and updating auditing requirements for presentation reports, allowing an alternative 'agreed upon' procedure instead of a full audit.
The amendments aim to improve efficiency, ensure fair payment, and streamline administrative processes.
The Register of Overseas Entities (Annotation) Regulations 2025
The Register of Overseas Entities (Annotation) Regulations 2025 empower the registrar to add notes to the register concerning dissolved overseas entities or those that have failed to comply with information requirements.
These annotations enhance transparency and aid enforcement of the Economic Crime (Transparency and Enforcement) Act 2022 and the Companies Act 2006.
The regulations extend to England, Wales, Scotland, and Northern Ireland and came into effect on June 30, 2025.
The Investigatory Powers (Codes of Practice, Review of Notices and Technical Advisory Board) Regulations 2025
These regulations bring into force new and revised codes of practice under the Investigatory Powers Act 2016, clarifying procedures for bulk data access and communications interception.
They define "relevant change" regarding operator-system alterations requiring notification, specify review periods for notices, and amend the 2018 regulations governing the Technical Advisory Board, adjusting its membership and quorum requirements.
The Local Audit (Modification of Financial Reporting Requirements) Regulations 2025
These regulations, effective June 26, 2025, amend the Local Audit and Accountability Act 2014.
They modify the financial reporting requirements for four specific combined county authorities in England and Wales: Devon and Torbay, Greater Lincolnshire, Hull and East Yorkshire, and Lancashire. The changes disapply the requirement to prepare accounts for the financial year beginning April 1, 2024, and adjust the reporting period for the financial year beginning April 1, 2025, to start on February 5, 2025, aligning with the authorities' establishment date.
The changes are made under the authority of section 3(5)(b) of the 2014 Act.
The Electricity (Individual Exemption from the Requirement for a Supply Licence) (JG Pears Power Limited) (England) Order 2025
This order temporarily exempts JG Pears Power Limited from needing an electricity supply license to provide power to the High Marnham Green Energy Business Park in England.
The exemption, granted under the Electricity Act 1989, runs until December 31, 2034, and is subject to conditions limiting the maximum electricity supply to 37 megawatts.
The order's justification involves facilitating the prompt delivery of renewable energy while acknowledging a lack of significant impact on the public or private sectors.