Following rigorous debate in Parliament, the U.K.'s latest Financial Services and Markets Act (FSM Act) received royal assent on June 29, 2023. The FSM Act significantly changes the U.K.'s regulatory framework for financial...more
The U.K.’s newest Financial Services and Markets Act of 2023 (“FSM Act”) received Royal Assent on 29 June 2023. Certain parts came into force on its passing, others will come into effect two months after that, and the...more
8/1/2023
/ Competition ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services and Markets Act ,
Financial Services Industry ,
HM Treasury ,
Prospectus ,
Prudential Regulation Authority (PRA) ,
Securitization ,
Solvency II ,
UK
The U.K. government has published a draft statutory instrument (and related explanatory memorandum), which will be known as the Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order...more
U.K. financial regulation includes a small and unusual provision, the so-called “MiFID override,” which prioritises the EU’s MiFID II regime over the U.K.’s own regulatory framework when determining questions of what is...more
The recently published Financial Services and Markets Bill (FSM Bill) is intended to recast the U.K.’s regulatory architecture post-Brexit. It was introduced to Parliament on 20 July 2022. The Bill implements the outcomes of...more
8/2/2022
/ Commodities ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services and Markets Act ,
Financial Services Industry ,
HM Treasury ,
New Legislation ,
Stablecoins ,
UK ,
UK Brexit