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Hong Kong progresses new licensing regimes for virtual asset dealing and custody; consults on regimes for virtual asset advisory and management Following the introduction of licensing regimes for virtual asset trading platforms (VATPs) and stablecoin issuers, Hong Kong is progressing its plans to extend licensing requirements to other key parts of the virtual asset[1] (VA) ecosystem. In December... Tax and the City - January 2026 The Supreme Court agrees with the Court of Appeal in Hotel La Tour that input tax in respect of deal fees in relation to an exempt share sale is attributable to the share sale (and therefore irrecoverable), rather than to the taxpayer’s downstream taxable... Insurance Outlook 2026 The UK water white paper: a watershed moment? Described by the UK government as a “once-in-a-generation plan to overhaul the water system”, the Water White paper was published on 20 January 2026 (the White Paper). This is the UK government’s response to the review of the water sector in England and... Competition and Regulatory Newsletter: UK government consults on overhaul of mergers and markets regimes The UK government has launched a consultation proposing significant changes to the UK’s competition regime. The UK government has launched a consultation proposing significant changes to the UK’s competition regime. Background The consultation... CRD VI Explained Consumer investments in 2026: growth, guardrails and the reality of risk The FCA has stated its support for the Government’s growth mission by simplifying rules, widening access, and encouraging investment. Nevertheless, 2026 will test how ‘responsible risk-taking’ can be reconciled with consumer protection. The Government's shake-up of the CMA: a year in review On 20 January the UK government launched a consultation on its long-awaited proposals to shake up the UK competition regime, marking the latest offensive in its “primary mission … to deliver economic growth”.   Announced exactly a year after the... The end of the lease as we know it? The Commonhold and Leasehold Reform Bill In its 2024 manifesto, Labour pledged to “bring the feudal leasehold system to an end”. Its first major step came in early 2025 with the proposed ban on upwards‑only rent review in new commercial leases. The... From roadmap to reality: the ERA 2025 trade union measures taking effect this February When the Employment Rights Act 2025 (ERA 2025) received Royal Assent on 18 December 2025, the government reaffirmed its commitment to the roadmap for implementation. Fast forward two months, and the first substantive set of reforms are now about to take...