On 4 February, we hosted an in‑person roundtable with Anne Wrobel (the FCA’s Head of Wholesale Market Analysis & Policy), ahead of the FCA’s forthcoming consultation paper on securitisation.  Anne shared timely insights on the regulatory direction of travel, opportunities for reform, and how the FCA is thinking about transparency, reporting, and private credit.

In December 2025, the European Parliament (EP) and the Council agreed on the Omnibus I proposal amending the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).  

The agreement scales back both the CSRD and CSDDD by significantly raising the size and turnover thresholds, meaning far fewer companies will be in scope. 

On 21 November 2025, we submitted a high-level response to the FCA’s consultation on progressing fund tokenisation.

We believe tokenisation presents a significant opportunity for both funds and loan markets.

To utilise these benefits, we have urged for continued dialogue and collaboration between regulators and industry participants to ensure regulatory frameworks keep pace with technological innovation.