UK Employment Rights Act 2025 Reforms

The UK's Employment Rights Act 2025, passed on December 18, 2025, introduces significant reforms to employment law. These changes, phased in from 2026 to 2027, affect industrial action, family leave, statutory sick pay, and dismissal rights, with the establishment of a new Fair Work Agency.

SEC Grants Conditional Reporting Relief for Foreign Private Issuers

The SEC has issued an exemptive order providing conditional relief from Section 16(a) insider reporting requirements for certain foreign private issuers. This relief applies when insiders are subject to substantially similar reporting obligations in their home jurisdiction, aiming to avoid duplicative filings.

Court of International Trade Orders Refunds for IEEPA Tariffs

The Court of International Trade (CIT) has ordered U.S. Customs and Border Protection (CBP) to issue refunds for tariffs collected under the International Emergency Economic Powers Act (IEEPA). This decision follows a Supreme Court ruling invalidating these tariffs and applies to importers whose liquidations are not final.

UK Cryptoasset Prudential Regime Proposals

The UK FCA has proposed a new prudential regime for cryptoasset firms, introducing capital, liquidity, risk management, and governance requirements. This consultation aims to ensure firms have sufficient financial resources and operational continuity. The regime is expected to come into force in October 2027.

Regulation of AI in Drug Development: US, EU, and UK Approaches

Regulators in the US, EU, and UK are developing approaches to govern the use of AI in drug development, focusing on patient safety and research integrity. Key initiatives include common principles agreed upon by the EMA and FDA, and international harmonization efforts for AI/ML-enabled medical devices.

UK PSR Seeks Merchant Survey Views on Interchange Fees

The UK Payment Systems Regulator (PSR) is seeking comments on a draft merchant survey questionnaire as part of its review of cross-border interchange fees. The survey aims to gather data on merchants' processing costs for online payments from the EEA to inform fee levels. The deadline for comments is March 5, 2026.

US and Hong Kong Stablecoin and Crypto-Asset Regulation Analysis

This analysis compares the regulatory approaches to stablecoins and crypto-assets in the US and Hong Kong as of March 2026. It highlights the US's evolving fragmented approach, including the GENIUS Act, and Hong Kong's unified, purpose-built licensing framework. The document aims to guide market participants through these distinct regulatory landscapes.

Court Orders Refund of Invalid Tariffs on IEEPA Goods

The U.S. Court of International Trade ordered U.S. Customs and Border Protection to refund invalid tariffs charged under the International Emergency Economic Powers Act (IEEPA). This ruling provides nationwide relief for importers, though an appeal is expected.

SEC Exempts Foreign Private Issuer Directors/Officers from Section 16(a) Filings

The SEC has issued an order granting an exemption from Section 16(a) beneficial ownership reporting requirements for officers and directors of certain foreign private issuers (FPIs). This exemption applies to FPIs incorporated in qualifying jurisdictions with substantially similar disclosure regulations, such as Canada, the EEA, the UK, and others. The order aims to align with the Holding Foreign Insiders Accountable Act.

SEC Exempts Foreign Companies' D&Os from Insider Reporting

The SEC has issued an order exempting directors and officers (D&Os) of certain foreign private issuers (FPIs) from Section 16(a) insider reporting requirements. This exemption, effective March 18, 2026, applies to D&Os in qualifying jurisdictions like Canada, the EU, and the UK, relieving them of the obligation to report initial ownership and subsequent transactions within two business days.