The UK Government recently published a White Paper, A sustainable future - reforming club football governance, to ensure the industry remains resilient and competitive for the future. We invite Albert Weatherill, a partner in our financial services regulation team, to discuss the reforms, looking at the comparison and similarities to broader financial services regulation. Although just a starting point, the report will give football clubs a lot to think about, and they will be keeping a close eye on proceedings as they develop. How will clubs need to adapt to satisfy conditions of the proposed licensing arrangements? How will club owners be assessed, and will current owners need to adjust to pass the new fit and proper person test retrospectively, under the new rules?