In December 2025, the U.K. Financial Conduct Authority (FCA) requested feedback on proposals to amend the rules on client categorization and conflicts of interest. With conflicts of interest under the FCA’s microscope, ACA Group (ACA) hosted a webinar to provide firms with guidance on how to manage conflicts and comply with regulatory requirements. Moderated by ACA managing director Charlotte Longman, the panel featured ACA director Michael Strug and Simmons & Simmons partner James Wallace. This article summarizes the key takeaways from the program. For coverage of previous ACA programs, see “Strategies U.K. Fund Managers Can Take to Prepare for an FCA Investigation” (Mar. 20, 2025); and “Performance Advertising Trends, Requirements and Guidance for Private Credit Strategies” (Oct. 2, 2025).