The Grid sets out the regulatory pipeline, in order for the financial services industry and other stakeholders to understand, and plan for, the timing of initiatives that may have a significant operational impact on them.
The update touches upon steps regulators are taking to reflect new obligations and accountability mechanisms introduced by the Act, the future use of the Grid to provide updates on the regulatory framework reforms, and other significant developments outside of the Act. It flags that many of these regulatory initiatives were already reflected in the February 2023 Grid and have continued to progress as anticipated, with some adjustments to timeframes (which have already been announced by the relevant regulators).
The PRA and FCA note that the Grid will be an important platform for keeping stakeholders updated on the delivery of the Act, as well as on the wider pipeline of initiatives.
A full update of the Grid is planned for Q4 2023.