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The BVCA has now formally adopted the new name of UK Private Capital, following receipt of member approval at the Annual General Meeting held on 14 January.

This edition of the Technical Update covers the Parliamentary debate on carried interest, the key 2026 regulatory reforms in the updated FCA Regulatory Initiatives Grid and the Bank of England’s updated SWES private market exercises. We also highlight that the CMA is seeking views on merger efficiencies through consultation and stakeholder roundtables, the launch of the new Sustainability Committee and Taskforces as well as the Government’s updated plans on the audit market reform and more.

On Monday, representatives from the BVCA, venture capital firms, UK pension funds and others across the ecosystem were brought together to celebrate Scotland’s economic strengths at the Scotland Investment Forum followed by a reception held by His Majesty the King at the Palace of Holyroodhouse.

The UK’s growth agenda is entering a decisive phase. Pressure on productivity, intensifying global competition and renewed focus on economic resilience mean that 2026 will be a critical year for how the UK supports innovation, scale and long-term value creation.

The BVCA will be adopting the new name of UK Private Capital, following receipt of member approval at the Annual General Meeting. The change will formally take effect from ​27​ ​January.

The House of Lords Financial Services Regulation Committee has published its report on private markets, entitled “unknown unknowns”. The Committee established the inquiry to consider both the reduction in banks’ ability and willingness to lend to SMEs and the growth in private markets, including whether the latter has any financial stability implications.

In this final Policy & Technical Update for 2025, we cover the FCA’s consultation on modernising MiFID client categorisation, the FCA finalisation of rules for the CCI retail disclosure regime and the re-launch of the NSI Expert Panel. We also highlight the Government’s consultation on non-compete clauses in employment contracts, the launch of PERG’s annual reports disclosure and transparency under the Walker Guidelines, the launch of the new Sustainability Committee in 2026, the Invest in Women taskforce report and more.

The BVCA is inviting members to share their views on the services that the BVCA provides, in a brief survey.