Reform UK has pulled out of a BBC documentary about the party amid a row over the broadcaster’s misleading editing of a Donald Trump speech.
The Rise Of Reform had been due to air in January, fronted by Laura Kuenssberg, and was being made by the independent production company October Films.
An internal memo sent to all Reform MPs, councillors and other senior figures, and seen by Sky News, told party officials to stop assisting with the documentary.
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Trump: I have ‘obligation’ to sue BBC
A senior official wrote: “Hi all, as you will be aware October Films have been filming a documentary with Kuenssberg on the rise of Reform.
“As part of this, they have been visiting and filming at Reform councils and speaking to our councillors and council leaders across the country.
“We want to be clear that October Films have always conducted themselves professionally, and there is no suggestion from our side that they would maliciously misrepresent Reform UK. However, following the Panorama documentary the trust has been lost.”
The email continued: “If you are approached to participate, we would strongly advise you decline. If you have already participated, we would strongly advise that you contact October Films and explicitly withdraw consent for your footage to be used.”
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Production company ‘shocked’ over misleading edit
Meanwhile, a source close to October Films told Sky News the company was “shocked” it wasn’t told about concerns over the Panorama Trump documentary, despite an internal review at the corporation highlighting the misleading edit back in January.
October Films worked on the one-hour Panorama special, Trump: A Second Chance with a majority in-house BBC team, which included a BBC director, executive producer, editor and lawyer.
The source told Sky News: “October Films were not informed there was any question of integrity with the edit. Had they been given the opportunity, they would have insisted on the edit being changed.”
October Films – who are an Emmy and BAFTA-winning independent producer, with credits including BBC2’s Laura Kuenssberg: State of Chaos, Channel 4’s Levison Wood: Walking With…, and CNN’s First Ladies – are understood to have first learned of the misleading edit when a leaked BBC memo was published in The Telegraph.
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The Reform UK leader says he has spoken to the US president about the BBC and Donald Trump’s words are ‘not quotable’.
Sky News understands the concealed cut in the president’s speech was present in the first version of the film shown to executive producers at an early viewing, with those producers not told an edit had been made.
Despite subsequent internal viewings, and various changes and tweaks to other parts of the film ahead of sign-off by senior editorial figures, as well as the BBC’s compliance and legal teams, the clip containing the president’s spliced quotes remained intact as part of the final edit.
Sky News approached the BBC for comment and were told they had “nothing to add to the BBC Chair’s letter to CMS committee”.
In his letter, Samir Shah described the edit as an “error of judgement” and admitted it “did give the impression of a direct call for violent action”.
October Films declined to comment.
Image: Laura Kuenssberg of the BBC interviewing David Gauke, then justice minister, in 2019. Pic: Reuters
Where was the documentary shown?
The 57-minute Panorama special – Trump: A Second Chance? – first aired on BBC One on 28 October 2024, a week before the US election.
The documentary aired in the UK and was put on iPlayer.
A shorter international version was cut, but the Capitol speech moment was not included in that cut-down version.
The film never aired in the US and couldn’t be viewed in the US on iPlayer as the content was geoblocked.
Image: The January 6 riot at the Capitol Building. Pic: Getty
What was the misleading edit?
While the BBC say the film received “no significant audience feedback” at the time, the corporation says it has since received over 500 complaints after an internal memo detailing investigations into impartiality was leaked to The Telegraph.
The most contentious issue raised in the memo was the cutting together two parts of a long Trump speech, which he had made on 6 January 2021.
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This was the day of the storming of the Capitol building in Washington by Trump supporters who believed the 2020 election had been stolen by Joe Biden.
In the documentary, the clip was presented as one sentence, in which Mr Trump appeared to say: “We’re gonna walk down to the Capitol and I’ll be with you and we fight. We fight like hell and if you don’t fight like hell, you’re not gonna have a country anymore.”
In reality Mr Trump’s words, “We’re gonna walk down to the Capitol and I’ll be with you,” came around 50 minutes before he said, “and we fight. We fight like hell….” The cut had been covered by crowd shots.
Image: The concerns about the Trump documentary edit first came to light in a leaked memo from Michael Prescott, a former journalist
When were issues over the cut first raised?
The author of the leaked memo, Michael Prescott, former adviser to the BBC’s Editorial Guidelines and Standards Board (EGSB), says he first raised concerns over impartiality after watching the documentary when it aired on the BBC.
He says his complaint led to an investigation by senior EGSC advisor David Grossman, with a report delivered in January 2025. He said this report raised the alarm over the edit of Mr Trump’s Capitol Hill speech.
Mr Prescott said that following the review BBC executives “refused to accept there had been a breach of standards and doubled down on its defence of Panorama”.
He says he was told at an EGSC meeting in May 2025 that it was “normal practice to edit speeches into short form clips”.
It was after this meeting in May that Mr Prescott says he wrote to the BBC chairman, Samir Shah, asking him to “take some form of action,” but “received no reply”.
Image: Donald Trump is pictured addressing supporters on January 6, 2021. Pic: AP
What’s the fallout been and what’s next?
The misleading edit has already led to the departure of BBC director-general, Tim Davie, and the head of BBC News, Deborah Turness.
Adding to the BBC’s problems, on Monday, the corporation received a letter from Mr Trump’s lawyers,threatening to sue them for $1bn.
They have been asked to issue a “full and fair retraction” of the documentary, “apologise immediately” and “appropriately compensate” the US president.
The BBC has been given a deadline of 10pm UK time on Friday to respond.
South Korea is preparing to impose bank-level, no-fault liability rules on crypto exchanges, holding exchanges to the same standards as traditional financial institutions amid the recent breach at Upbit.
The Financial Services Commission (FSC) is reviewing new provisions that would require exchanges to compensate customers for losses stemming from hacks or system failures, even when the platform is not at fault, The Korea Times reported on Sunday, citing officials and local market analysts.
The no-fault compensation model is currently applied only to banks and electronic payment firms under Korea’s Electronic Financial Transactions Act.
The regulatory push follows a Nov. 27 incident involving Upbit, operated by Dunamu, in which more than 104 billion Solana-based tokens, worth approximately 44.5 billion won ($30.1 million), were transferred to external wallets in under an hour.
Regulators are also reacting to a pattern of recurring outages. Data submitted to lawmakers by the Financial Supervisory Service (FSS) shows the country’s five major exchanges, Upbit, Bithumb, Coinone, Korbit and Gopax, reported 20 system failures since 2023, affecting over 900 users and causing more than 5 billion won in combined losses. Upbit alone recorded six failures impacting 600 customers.
The upcoming legislative revision is expected to mandate stricter IT security requirements, higher operational standards and tougher penalties. Lawmakers are weighing a rule that would allow fines of up to 3% of annual revenue for hacking incidents, the same threshold used for banks. Currently, crypto exchanges face a maximum fine of $3.4 million.
The Upbit breach has also drawn political scrutiny over delayed reporting. Although the hack was detected shortly after 5 am, the exchange did not notify the FSS until nearly 11 am. Some lawmakers have alleged the delay was intentional, occurring minutes after Dunamu finalized a merger with Naver Financial.
As Cointelegraph reported, South Korean lawmakers are also pressuring financial regulators to deliver a draft stablecoin bill by Dec. 10, warning they will push ahead without the government if the deadline is missed.
The ruling party’s ultimatum follows slow progress and repeated delays, with officials hoping to bring the bill to debate during the National Assembly’s extraordinary session in January 2026.
Millionaire Tory donor Malcolm Offord has defected to Reform UK, saying he would be campaigning “tirelessly” to “remove this rotten SNP government”.
Nigel Farage announced the former Conservative life peer’s defection during a rally in the Scottish town of Falkirk, where regular anti-immigration protests have taken place outside the Cladhan Hotel – which is being used to house asylum seekers.
Mr Farage, Reform UK’s leader, said he was “delighted” to welcome Greenock-born Lord Offord to Reform, describing his defection as “a brave and historic act”.
He added: “He will take Reform UK Scotland to a new level.”
During a speech, Lord Offord, who previously donated nearly £150,000 to the Tories, said he would be quitting the Conservative Party and giving up his place in the House of Lords as he prepares to campaign for a seat in Holyrood in May.
The 61-year-old said he wanted to restore Scotland to a “prosperous, happy, healthy country”.
“Scotland needs Reform and Reform is coming to Scotland,” he told the rally.
“Today I can announce that I am resigning from the Conservative Party. Today I am joining Reform UK and today I announce my intention to stand for Reform in the Holyrood election in May next year.
“And that means that from today, for the next five months, day and night, I shall be campaigning with all of you tirelessly for two objectives.
“The first objective is to remove this rotten SNP government after 18 years, and the second is to present a positive vision for Scotland inside the UK, to restore Scotland to being a prosperous, proud, healthy and happy country.”
The latest defection comes as Mr Farage finds himself at the centre of allegations of racism dating back to his time in school.
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Claims made against Nigel Farage
Sky News reported on Saturday that a former schoolfriend of Mr Farage claimed he sang antisemitic songs to Jewish schoolmates – and had a “big issue with anyone called Patel”.
Jean-Pierre Lihou, 61, was initially friends with the Reform UK leader when he arrived at Dulwich College in the 1970s, at the time when Mr Farage is accused of saying antisemitic and other racist remarks by more than a dozen pupils.
Mr Farage has said he “never directly racially abused anybody” at Dulwich and said there is a “strong political element” to the allegations coming out 49 years later.
Reform’s deputy leader Richard Tice has called the ex-classmates “liars”.
A Reform UK spokesman accused Sky News of “scraping the barrel” and being “desperate to stop us winning the next election”.
The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.
On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.
Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.
“I am even more concerned that the proposal makes ESMA responsible for both the authorisation and the supervision of CASPs, not only the supervision,” she told Cointelegraph.
The proposal still requires approval from the European Parliament and the Council, which are currently under negotiation.
If adopted, ESMA’s role in overseeing EU capital markets would more closely resemble the centralized framework of the US Securities and Exchange Commission, a concept first proposed by European Central Bank (ECB) President Christine Lagarde in 2023.
EU plan to centralize licensing under ESMA creates crypto and fintech slowdown concerns
The proposal to “centralize” this oversight under a single regulatory body seeks to address the differences in national supervisory practices and uneven licensing regimes, but risks slowing down overall crypto industry development, Elisenda Fabrega, general counsel at Brickken asset tokenization platform, told Cointelegraph.
“Without adequate resources, this mandate may become unmanageable, leading to delays or overly cautious assessments that could disproportionately affect smaller or innovative firms.”
“Ultimately, the effectiveness of this reform will depend less on its legal form and more on its institutional execution,” including ESMA’s operational capacity, independence and cooperation “channels” with member states, she said.
Global stock market value by country. Source: Visual Capitalist
The broader package aims to boost wealth creation for EU citizens by making the bloc’s capital markets more competitive with those of the US.
The US stock market is worth approximately $62 trillion, or 48% of the global equity market, while the EU stock market’s cumulative value sits around $11 trillion, representing 9% of the global share, according to data from Visual Capitalist.