Five Year Review meaning

Financial services developments FCA updates perimeter report and publishes work programme and fees proposals for 2026/27 The Financial Conduct Authority (FCA) has issued its annual work programme for 2026/27, refreshed its perimeter report, and opened consultation paper CP26/11, which sets out its proposals on the rates for regulated fees and levies for 2026/27. Responses to the consultation are requested by 30 April 2026. The Annual Work Programme sets out initiatives intended to streamline processes, remove friction where appropriate, and help firms operate more efficiently, while upholding high standards across the financial sector. It features, among other things: embedding AI in regulatory workflows to detect harm more effectively and accelerate regulatory decision-making processes using generative AI to review documents received from firms, supporting quicker, more timely decisions...

In this issue: UK, EU and international regulators and bodies Prudential requirements Risk management and controls Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Sustainable finance and ESG Banks and mutuals Investment funds and asset management Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Fintech and cryptoassets Regulation of AI in FS Dates for your diary New and updated content Financial Services Enforcement Database Daily and weekly news alerts LexTalk®Financial Services: a Lexis®Nexis community UK, EU and international regulators and bodies ESAs publish spring 2026 joint risk update The three European Supervisory Authorities—the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority—have released their Joint Committee spring 2026 update examining risks and vulnerabilities across the EU financial system....

In this issue: Key developments UK immigration control: how it works Family members under Part 8 and Appendix FM Challenging immigration decisions and enforcement Citizenship applications Daily and weekly news alerts New Q&As Key developments Future developments—Immigration calendar Note that our Immigration calendar sets out key forthcoming developments relevant to business immigration advisers. UK immigration control: how it works Home Secretary statement on direction of legal migration policy The Home Secretary, Yvette Cooper, addressed Parliament on the direction of the new Labour government’s future policy on legal migration. She reaffirmed a focus on aligning migration policy with skills and the labour market—a ‘new approach’—to be delivered through a cross‑government programme set out in the pre‑election manifesto and the newly announced Skills England body highlighted in the King’s speech. She also confirmed that ministers will press ahead with the majority of the previous administration’s ‘five‑point plan’ measures. This reflects the government’s view—shared with its...

This review outlines the principal updates to the Immigration Rules (the Rules) contained in HC 877 that will most concern business immigration advisers. HC 877 was laid on 11 March 2016, accompanied by an Explanatory Memorandum (EM). This notice excludes amendments to Tier 2 of the Points-Based System (PBS) recommended by the Migration Advisory Committee (MAC) in its January 2016 report, as the Home Office has not yet issued a formal response to the MAC review. Revisions to the Immigration Rules for Tier 2 are expected in the summer or autumn. Be aware that two sets of corrections were placed on the opening pages of HC 877 in March 2016, before the Statement took effect. You can jump to individual subjects swiftly via the Contents bar. Implementation Unless specified otherwise, the amendments apply to applications submitted on or after 6 April 2016. Applications filed before this date will be determined under the Rules in force as at 5 April 2016. Definitions Apart from definition changes that...

CASE HUB ARCHIVED – this archived case hub reflects the position at the date of the decision of 2 September 2013; it is no longer maintained. See further, timeline and related cases. Case facts Outline: Summary of a UK merger review into AEG’s completed acquisition of the management contract to run and operate the Wembley Arena in London. Latest developments The CC cleared the deal without conditions on 2 September 2013, upholding its provisional conclusions. Parties Parties are AEG Facilities UK (AEG) and Wembley Arena. AEG currently runs three other indoor live entertainment venues in London—the O2 Arena, the Hammersmith Apollo and IndigO2. It was recently awarded a five‑year agreement to stage summer concerts in Hyde Park. Wembley Arena is among London’s leading live entertainment venues and, before AEG assumed the contract, it was run by Live Nation. Background AEG has recently been granted a five-year contract to manage Wembley Arena...

Note—to check whether notification thresholds in Portugal and worldwide are met, see: Where to Notify. 1. Have there been any recent developments regarding the Portuguese merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Portugal? Portugal’s merger control rules were last overhauled in 2012 with the current Competition Act (Law 19/2012 of 8 May 2012) (Competition Act). A 2022 update implementing the EU ECN+ Directive did not materially alter the merger control system. 2024 was the most active year in a decade. The Authority delivered 93 final outcomes: 79 clearances, five conditional approvals (two following an in‑depth probe), eight inapplicability findings, and one prohibition. Two Phase II remedies cases—Live Nation/MEO Arena R&B and Ylport Iberia GSMarítima/Sotagus—were lengthy, concluding after 19 and 11 months, respectively. From January to October 2025, the Authority closed 83 further cases. Gun‑jumping enforcement has intensified, with nine investigations opened in 2024 alone...