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  • The Alasdair Gray Archive and The Agnes Owens Archive announce Kirstin Innes and Heather Parry as 2026 Writers-in-Residence

    The Alasdair Gray Archive and The Agnes Owens Archive announce Kirstin Innes and Heather Parry as 2026 Writers-in-Residence

    Header image: Kirstin Innes and Heather Parry at the The Alasdair Gray and Agnes Owens Archive, image credit: Neil Hanna.

    The Alasdair Gray Archive (AGA) and The Agnes Owens Archive (AOA) are delighted to announce the appointment of Kirstin…

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  • A message to the private security industry for Christmas 2025

    A message to the private security industry for Christmas 2025

    Once again, this year has been marked by countless examples of security operatives going the extra mile to help others: saving lives, helping those in vulnerable situations, and using their skills and good judgement to protect the public. We both meet security professionals across the country during our visits to venues, businesses, and industry events, and hear from you first-hand how deeply you care about your work. We recognise that the demands upon your expertise have grown, whether you work in retail settings, offices, banks, in hospitals, schools, on university campuses, or at events, in hospitality and in the night-time economy.

    As the year draws to a close, we thank you for your continued commitment and everything you do to keep the public safe. Your vigilance and concern for others allow all of us to come together and celebrate during this special time of year. The job of protecting people and places can be lonely and difficult at times. Many of you work long and antisocial hours and are often outside working in all weathers throughout the year.

    2025 has been a time of transition and evolution for the SIA as we prepare for our new role as the regulator for Martyn’s Law. Earlier this year the SIA moved under the portfolio of the Minister of State for Security, Dan Jarvis MBE MP. Our focus on the very best safeguarding and public protection, quite rightly, now has a wider protective security scope. This, together with the work to design a new business approval scheme and the major review of licence-linked qualifications that we launched recently, reflects the importance of both the skills and expertise required of security operatives and the quality of security provided at premises and events.

    We are confident that as the UK regulator, we can meet the challenges and opportunities that the new responsibilities bring. We are incredibly proud to serve and drive forward improved public protection, in collaboration with partners, the private security industry and every licensed operative.

    From myself as Chair in my fifth and final year in my role, I wanted to end with a personal message of thanks to everyone across private security, whether you are a licence holder working on the front line, a business, an industry association or one of our other stakeholders working to keep people safe across the UK. It has been a huge privilege to be the Chair of the SIA and to work with so many of you on our shared priority of keeping the public safe from harm. Thank you again for your commitment and your professionalism.

    We both hope that you all find time to enjoy your own measure of peace and good will with your family and friends. However you celebrate, we wish you all the joy of the season, and a happy and successful 2026.

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  • PS25/24: Ancillary Activities Test | FCA

    Read PS25/24 (PDF)

    Why we are changing

    We are making it simpler for firms to determine if they can benefit from the ancillary activities exemption (AAE).

    The AAE allows a firm to be exempt from authorisation as an investment firm where its trading in commodity derivatives, emission allowances, or derivatives of emission allowances qualifies under the AAT.

    Under the AAE, firms must carry out the AAT to assess whether they are eligible for an exemption. The current test is costly and burdensome.  

    Under our final rules, we are therefore introducing 3 separate and independent tests.

    • Annual threshold test (new).
    • Trading test (modified).
    • Capital employed test (modified).

    Each test is an alternative route to qualifying for the exemption. Firms need only meet the conditions of 1 test to rely on the AAE.

    Who this is for

    The new rules will apply to non-financial firms that trade commodity derivatives, emission allowances, or derivatives of emission allowances seeking to rely on the AAE.

    Next steps

    The new AAE framework comes into force on 1 January 2027.

    Firms currently using the AAE should familiarise themselves with our rules and guidance to make sure they understand the new conditions and can perform any 1 of the 3 independent tests.

    We’ll speak to relevant market participants before and after the new rules take effect, to support the new regime.

    Background

    The AAE exempts commercial users or producers of commodities from the need to seek authorisation as an investment firm, if they trade in commodity derivatives, emission allowances or derivatives of emission allowances as an ancillary activity.

    The Treasury has made legislative changes giving us power to set the rules defining the conditions under which firms can rely on the AAE.  

    To benefit from AAE, a firm must carry out the AAT, which enables it to determine if:

    • Its activity in these financial instruments is ancillary to the group’s main activities; or
    • It meets a new annual threshold, below which the AAE can also be used. 

    We set out our proposed rules in CP25/19, ‘Ancillary Activities Test’. 

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  • Meet The Walton Family: The $513 Billion Walmart Dynasty That Surpasses The Ambanis In Wealth By $400 Billion! – Times Now

    1. Meet The Walton Family: The $513 Billion Walmart Dynasty That Surpasses The Ambanis In Wealth By $400 Billion!  Times Now
    2. World’s richest families tighten grip, while inequality widens globally  Business Recorder
    3. Walton family fortune: How America’s richest family manages their wealth  CNBC
    4. $513bn vs $105bn: Why the Waltons are nearly 5x richer than India’s Ambani family  financialexpress.com
    5. How Waltons Reportedly Became The Richest Family In The World Through Walmart  NDTV

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  • Authorship and Data Disclosure Risks in Construction and Design | Stoel Rives LLP

    Authorship and Data Disclosure Risks in Construction and Design | Stoel Rives LLP

    Contractors and design professionals are rapidly incorporating artificial intelligence (AI) technology into their work. We construction lawyers are striving to keep up with the breakneck pace of technological adoption and evolution and develop…

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  • Fraught EU summit backs Ukraine but divisions are clear

    Fraught EU summit backs Ukraine but divisions are clear

    After 17 hours of at times heated debate, EU leaders agreed in the early hours of Friday morning to jointly raise €90bn (£79bn; $105bn) in zero-interest loans to keep Ukraine financially afloat for the next two years.

    Kyiv had been clear: the…

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  • Oil set for second straight weekly decline on supply outlook – Reuters

    1. Oil set for second straight weekly decline on supply outlook  Reuters
    2. Oil set to close lower for second straight week  Business Recorder
    3. Crude Oil Price Outlook – Crude Continues to Look Soft  FXEmpire
    4. Energy and Dollar Charts Point to Deepening Risk-Off Sentiment  TradingPedia
    5. Goldman Sachs Commodities Outlook: Oversupply drives oil and gas prices, with oil prices expected to bottom out by mid-2026.  富途牛牛

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  • Greece rescues 545 migrants off Gavdos as Libya route sees surge in crossings

    Greece rescues 545 migrants off Gavdos as Libya route sees surge in crossings

    Greek authorities rescued 545 migrants from a fishing vessel off Gavdos on Friday in one of the largest operations in recent months, as arrivals from Libya to Greece’s southernmost islands continue to surge.

    The Hellenic Coast Guard received a…

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  • Medical Centre in Uganda Treats Paediatric Brain Tumour Using Advanced Technique

    Medical Centre in Uganda Treats Paediatric Brain Tumour Using Advanced Technique

    For the first time, the Uganda Cancer Institute in Kampala has treated an aggressive paediatric brain tumour using an advanced radiotherapy known as volumetric modulated arc therapy, with support from the IAEA. 

    This technique shapes…

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  • Cocoa, Carlsberg & Chemicals: This Week’s Top Five Stories

    Cocoa, Carlsberg & Chemicals: This Week’s Top Five Stories

    Brewing company Carlsberg is improving its supply chain through regenerative farming and packaging innovations to achieve its net zero emissions goals

    As a leading global brewing company, Carlsberg is embedding sustainability into its corporate…

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