Archive:April 2025

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EUROPE: UK’s FCA seeks to simplify its rules
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United States: House Committee on Financial Services Urges the SEC to Withdraw Final and Proposed Rules

EUROPE: UK’s FCA seeks to simplify its rules

By: Laura Price and Kai Zhang

Acknowledging “longstanding concerns from firms about the length and complexity of [its] rules and guidance”, the UK’s FCA published a call for input in July 2024. It invited firms to comment on whether some FCA rules may be unnecessary following introduction of the outcomes-based Consumer Duty. It has now outlined its proposed approach in a Feedback Statement, explaining that its aims are to achieve more flexibility, more predictability, and improved efficiency. The approach includes:

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United States: House Committee on Financial Services Urges the SEC to Withdraw Final and Proposed Rules

By: Lance C. Dial and Donela M. Qirjazi

On 31 March 2025, the House Committee on Financial Services (Committee), in a letter to Acting Chairman of the US Securities and Exchange Commission (SEC), Mark Uyeda, identified a series of proposed and adopted rules that the SEC should withdraw or rescind. The letter notes the Committee’s view that the SEC, under the prior Chair, had lost sight of its mission. The identified proposals and rules represent significant rulemaking efforts on the part of the SEC, many of which were controversial and subject to significant industry opposition. The specific proposals identified are the following:

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