Market testing meaning

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Financial crime and sanctions Consumer protection Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Banks and mutuals UK MiFID II EU MiFID II Consumer credit Regulation of insurance Payment services and systems Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies FCA publishes Handbook Notice No 135 The Financial Conduct Authority (FCA) has issued Handbook Notice No 134, outlining amendments to the FCA Handbook and related materials approved by the FCA board on 27 November 2025. See: LNB News 28/11/2025 48. ESMA sets out planned consultations for...

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 EU fundamentals Competition and state aid Data protection and cybersecurity Financial services Energy Environment Insurance and reinsurance Life sciences Regulatory TMT Daily and weekly news alerts New and updated content Trackers EU fundamentals EU Law—key developments in 2025 and horizon scanning for 2026 This News Analysis distils the principal EU developments from 2025 and highlights what is expected in 2026. See News Analysis: EU Law—key developments in 2025 and horizon scanning for 2026. Competition and state aid Antitrust—Google and Alphabet v Commission An application for annulment has been submitted to the General Court in Case T-794/25, Google and Alphabet v Commission, contesting the Commission’s prohibition decision on Adtech and data-related practices (abuse of dominance) (AT.40670), under Article 102 TFEU and Article 54 of the EEA Agreement—see further, application. See News Analysis: EU Competition law—daily round-up (12/01/2026). Foreign Subsidies Regulation—Commission’s guidelines The Commission...

STOP PRESS: From 24 February 2025, the core provisions of the Procurement Act 2023 (PA 2023) now apply. Any procurement launched on or after that date must proceed under PA 2023, while procedures started under the earlier instruments—the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011—must continue to be run and administered in line with those rules. See Practice Note: Introduction to the Procurement Act 2023—PA 2023. PCR 2015 as assimilated law PCR 2015 are EU-derived domestic legislation and therefore constitute assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018. For practical guidance on the standing and interpretation of assimilated law, see Practice Note: Assimilated law. Public procurement reform The UK public procurement framework stems from EU public procurement law, and was consequently affected by the UK’s exit from the EU, albeit only to a limited degree. In substance, the UK regime continues largely...

This Practice Note outlines the UK regime governing cosmetics. It defines what counts as a cosmetic product and details the conditions for placing such products on the market in Great Britain (GB) while safeguarding their safety. It also covers limits on particular ingredients, the prohibition on animal testing, the criteria for making cosmetic product claims, which bodies enforce the rules in the UK, and the applicable oversight mechanisms. The Practice Note further addresses the situation in Northern Ireland (NI), which follows EU cosmetics requirements, insofar as that position diverges from the approach in the EU, where relevant. UK regulatory framework for cosmetics The UK framework largely stems from Regulation (EC) 1223/2009 on cosmetic products, commonly referred to as the EU Cosmetic Products Regulation (EU CPR). For material on the EU cosmetics regime, see Practice Note: Regulation of cosmetic products in the EU. The EU CPR applied directly across all EU Member States (which then included the UK), so no domestic legislation was needed for those duties to take...

Context The London Chamber of Arbitration and Mediation (LCAM) has partnered with Immunefi, a blockchain security platform, to develop the LCAM Blockchain Expedited Arbitration Rules (the 'Rules'), a bespoke arbitration framework designed for actors in the security vulnerability market. Immunefi is an online hub linking blockchain projects with security researchers, offering tooling to run security testing and to report the weaknesses they uncover, helping to prevent hacks. When these researchers — often called 'whitehat hackers' — find qualifying on-chain vulnerabilities, they can seek a reward known as a 'bug bounty', with advertised sums reaching multimillion-dollar levels. In this setting, bug bounty disputes emerge where a blockchain project and a security researcher fall out over the security work performed on the project. Such disagreements may manifest in several ways, including arguments about whether the reported vulnerability exists at all, debates over its alleged severity, or issues concerning payment of the bug bounty itself. These Rules set out a tailored arbitral scheme aligned with needs of participants in this market, for...

1 Internal team Product Safety Lead [Name/contact details]; heads safety; ensures recall records. Product Manager [Name/contact details]; accountable for products. R&D/Design [Name/contact details]; leads R&D/design; ensures traceability. Production [Name/contact details]; person(s) leading production. Quality Assurance [Name/contact details]; QA and risk; market surveillance. Purchasing [Name/contact details]; procures raw materials, components or finished goods. Distribution [Name/contact details]; liaises with distributors/wholesalers. Sales [Name/contact details]; consumer sales; customer traceability. Customer Relations [Name/contact details]; handles queries, concerns and complaints. Logistics [Name/contact details]; transport, storage and disposal for corrective action. Communications [Name/contact details]; PR, media and external communication. Legal and Compliance [Name/contact details]; regulatory/standards compliance; regulator liaison; liability/insurance. Finance [Name/contact details]; financial decisions. 2 External team Trading Standards Contact [Name/contact details]; main contact at Trading Standards/other market surveillance authority. Distributor/Producer Contacts [Names/contact details]; supplier and commercial customer contacts. Product Safety Advisor (Technical) [Name/contact details]; external testing, if applicable. Product Safety Advisor (Legal)...

Every medicinal product in the EU undergoes rigorous, systematic testing and evaluation of its quality, effectiveness and safety before it is authorised for use. After it reaches the market, continuous surveillance ensures that any factor which might influence a medicine’s safety profile is identified and evaluated carefully, and that appropriate actions are taken when needed. This ongoing monitoring is known as pharmacovigilance in the EU...