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The mandatory notification regime under the UK’s National Security and Investment Act (NSIA) has been in force for more than four years. During this time, the number of deals notified to the UK Government has steadily increased, allowing the Government to scrutinise more deals from a national security perspective. However, changes are afoot. Over the summer, the new Prime Minister rehoused the Investment Security Unit (ISU) once again, and the NSIA’s legal framework, which has remained unchanged since being enacted, is due to be altered significantly. In the following article, we look at lessons learnt from two prohibited transactions – the first block of 2026 and the conclusion of an M&A saga dating back to 2021. We also consider the implications of the ISU leaving the Cabinet Office, identify key trends from the latest NSIA Annual Report, and examine major forthcoming amendments to the NSIA regime.

Elizabeth Bradley, Global Practice Group Leader for our Tax, Employee Benefits and Private Client practice, was quoted in Property Week on 2 September 2026 in an article examining HMRC's increased scrutiny of large property groups and the growing challenges facing taxpayers seeking certainty on the tax treatment of transactions.

The key takeaway from AB v GH Limited? Consent, intoxication and “unwanted” conduct are not always as clear-cut as they might seem. With the duty to prevent sexual harassment strengthening on 30 October 2026, employers should be focusing on prevention before problems arise.

On the 15 June 2026, the FCA issued a consultation paper: CP26/19: Changes to our penalty and decision-making policies. BCLP has responded independently to the consultation, supporting the FCA's commitment to effective enforcement, but raising concerns about the proposal to increase penalties for "wealthier individuals" by taking account of the size of their income or net assets when assessing deterrence. A copy of BCLP’s response can be found below.