The UK’s Financial Conduct Authority (FCA) will fast-track approvals for defense-focused investment funds in an effort to make it easier for investors to access stocks and bonds tied to Europe’s accelerating rearmament, Bloomberg reported.

The regulator said it will prioritize applications from funds focused on defense as the UK seeks to bolster national security amid an increasingly uncertain geopolitical landscape, according to the report.

Under the FCA’s definition, “defense funds” can include products investing in dual-use technologies that have both civilian and military applications, Bloomberg reported. The regulator cited examples such as technologies designed to combat cybersecurity threats.

The move comes as the UK has committed to increase defense spending under pressure from U.S. President Donald Trump, who has urged Europe to reduce its reliance on American contributions to NATO for its security. Investors have been piling into defense-related securities in anticipation of higher government spending across the sector, according to the report. 

For newly created defense funds, the FCA is targeting approval timelines “in as little as a month” and no more than three months, Bloomberg said. For existing funds adding a new defense component, the regulator aims to reach a decision within a month.

Read more at Bloomberg