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Our latest podcast series explores what you need to know about the looming shake-up of UK financial services

On 9 December 2022, the Chancellor of the Exchequer announced a package of reforms to the UK financial services sector – the "Edinburgh Reforms." We posted a summary of the reforms here. To help you understand the proposals, we have created a series of webcasts which will explain:

  • what the key proposals are;
  • who they might impact;
  • next steps and timing; and
  • the potential significance and impact of the proposals.

The topics are covered in short segments so you can pick and choose the ones which are of interest to you. As always, contact us if you would like to discuss any of the topics further.

Video Summary Slides

1. Introduction to the Edinburgh Reforms

This session provides an overview of what's in the Edinburgh Reforms package and the topics covered within the webcast series.

Speakers: Clive Cunningham, Marina Reason and Kelesi Blundell


2. Regulatory Landscape

This session considers the government's approach to repealing and replacing retained EU law in financial services, including phasing and prioritisation.

Speakers: Clive Cunningham and Kelesi Blundell

Regulatory Landscape

3. Regulator Remit & Accountability

This session considers proposed changes to the regulators' powers; and their new secondary 'have regard' objectives in relation to economic growth and international competitiveness.

Speakers: Clive Cunningham and Marina Reason

Regulator Remit & Accountability

4. Ring-fencing

The government's proposals to reform the ring-fencing in 2023 is considered in this session.

Speaker: Kelesi Blundell


5. Senior Managers & Certification Regime (SMCR)

This session considers the government's plan to review the SMCR in 2023.

Speaker: Clive Cunningham

Senior Managers & Certification Regime (SMCR)

6. Sustainable Finance

This session considers how the government plans to align the financial services sector with Net Zero and support the sector to unlock private financing.

Speaker: Marina Reason

Sustainable Finance

7. Short Selling and Wholesale Markets Review

This session discusses the proposed reforms to the Short Selling Regulation as well as plans to deliver the outcomes of the Wholesale Markets Review.

Speaker: Kelesi Blundell

Short Selling and Wholesale Markets Review

8. Prospectus Regime Reform

This session considers changes to the existing prospectus and public offers regime under the Financial Services and Markets Act 2000.

Speaker: Sarah Hawes

Prospectus Regime Reform

9. Technology and Innovation

This overview session considers some of the ongoing and upcoming projects mentioned in the Edinburgh Reforms including the work underway as part of the Financial Services and Markets Bill (including the Financial Market Infrastructure Sandbox and stablecoins/cryptoassets activities), the proposal for a new type of wholesale market venue, the Accelerated Settlement Taskforce and an update on upcoming consultation on a UK Central Bank Digital Currency (CBDC).

Speakers: Marina Reason, Kelesi Blundell and Clive Cunningham

Technology and Innovation

10. Payments

This session considers proposed changes to the FCA's rulemaking powers in relation to payments and e-money as well as reform of payment accounts information disclosure requirements.

Speaker: Clive Cunningham


11. Consumer Credit Act (CCA) Reform

This session discusses the long-overdue consultation on reform to the complex consumer credit regime under the CCA.

Speaker: Marina Reason

Consumer Credit Act (CCA) Reform

12. Advice and Guidance Boundary

The Chancellor announced the government's commitment to working with the FCA to review the advice and guidance boundary. This session considers this and the FCA's consultation paper (CP22/24) on a new core investment advice regime.

Speaker: Marina Reason

Advice and Guidance Boundary

13. PRIIPs and UK Retail Disclosure

The government plans to repeal the PRIIPs Regulation. This session considers the plans for a new UK retail disclosure regime generally,  including the FCA discussion paper (DP22/6) on the future disclosure regime published on 13 December 2022.

Speaker: Clive Cunningham

PRIIPs and UK Retail Disclosure

14. Pensions

This webcast considers how the measures announced in the Edinburgh Reforms might affect the pension industry.

Speaker: Samantha Brown


15. Securitisation

This webcast considers potential future reforms to the UK Securitisation Regulation announced as part of the Edinburgh Reforms.

Speaker: Joy Amis



Key contacts

Clive Cunningham photo

Clive Cunningham

Partner, London

Clive Cunningham
Marina Reason photo

Marina Reason

Partner, London

Marina Reason
Kelesi Blundell photo

Kelesi Blundell

Partner, London

Kelesi Blundell
Joy Amis photo

Joy Amis

Partner, London

Joy Amis
Samantha Brown photo

Samantha Brown

Managing Partner of EPI (West), London

Samantha Brown
Sarah Hawes photo

Sarah Hawes

Head of Corporate Knowledge, UK, London

Sarah Hawes
Patricia Horton photo

Patricia Horton

Professional Support Lawyer, London

Patricia Horton

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