This edition of the Technical Update covers UK Private Capital’s engagement with officials on the draft guidance on the carried interest rules as well as the organisation’s input on the deferral of tax adviser registration rules. We also highlight HMT’s shorter FCA authorisation deadlines and the Pension Schemes Bill’s Royal Assent. Finally, we have recently published the May edition of our bi-annual Policy and Technical Bulletin which covers the key topics on our committees’ agendas, how they impact the private capital industry and how UK Private Capital and committee members are engaging with policymakers and regulators.