Articles by author
The smarter regulatory framework: a model of things to come?
The Financial Services and Markets Act 2023 (FSMA 2023) has initiated the most significant restructuring of UK financial services regulation since the enactment of the Financial Services and Markets Act 2000 (FSMA). This article argues that the so-called Smarter Regulatory Framework (SRF) has done more than replace retained EU law: it has transformed the regulatory perimeter into a more flexible policy tool. Examining developments including the Designated Activities Regime (DAR), new regulated activities and evolving approaches to territorial scope, the article explores how Parliament and HM Treasury are reshaping the architecture of financial services regulation, whilst arguing that greater flexibility must continue to be underpinned by a coherent and predictable regulatory philosophy.
26 JUL 2026Prediction markets in the UK: betting the house or hedging your bets?
Prediction markets are trading platforms on which participants trade event contracts whose value depends on whether specified future events occur. In the US, these markets are currently experiencing a period of rapid growth, and at the same time have emerged as one of the most contested areas at the intersection of financial regulation and gambling law. In the UK, their regulatory characterisation turns on whether the contract references a “financial” or a non-financial outcome.
25 JUN 2026The IOSCO Final Report on pre-hedging: is this the final word?
In November 2025, the International Organization of Securities Commissions (IOSCO) published its Pre-Hedging Final Report (the Final Report), concluding a review that began with a November 2024 Consultation Report (the Consultation Report) and built on earlier regulatory and industry work.
27 FEB 2026Loan participations: conflict-of-laws challenges under English and New York law
This article examines the divergent treatment of loan participations under English and New York law, focussing on how each jurisdiction characterises the legal relationship between grantor and participant. It explores the conflict-of-laws challenges that arise when structuring cross-border financing transactions in which the underlying loan and participation agreement may be governed by different legal systems.
22 NOV 2025
