On 7 November 2024, the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2024 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations make consequential amendments resulting from the commencement of provisions in (or made under) the Financial Services and Markets Act 2023 (FSMA 2023).
The joint roadmap for implementing the Overseas Funds Regime (OFR), published by HM Treasury and the Financial Conduct Authority (FCA) in May 2024, indicated that the FCA’s final rules and guidance would be published shortly, before they enter into effect in July 2024.
In our new briefing, we outline the
In the latest in our series of Global Regulation Tomorrow podcasts focusing on the future of asset management regulation in the UK, Claire Guilbert, Uzmah Yunis and Anita Edwards discuss the key practical points firms should be considering following the Financial Conduct Authority’s recent consultation on implementing the Overseas Funds Regime and subsequent developments.
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On 24 May 2024, there was published a joint statementbetween HM Treasury and the European Commission covering the second EU-UK Financial Regulatory Forum. This forum was established following the signing of the UK-EU Memorandum of Understanding on Financial Services Cooperation on 27 June 2023.
In the joint statement the UK and EU summarise their
On 21 December 2023, the UK Government announced that it had signed a ‘ground-breaking agreement’ with Switzerland to enhance cross-border market access of financial services between the two countries. The Berne Financial Services Agreement provides an institutional framework for cooperation and development of the UK’s financial services relationship with Switzerland. The foundation of the agreement
On 15 December 2023, the European Securities and Markets Authority (ESMA) issued a public statement in relation to the consequences of Brexit for the ESMA register for benchmark administrators and third country benchmarks (ESMA register) under the Benchmark Regulation (BMR).
Key points in the public statement include:
In the latest episode of our Split the difference podcast series, which explores divergence and convergence between the EU and UK regulatory regimes in the markets space, Jonathan Herbst, Hannah Meakin, Floortje Nagelkerke, Anna Carrier and Catherine Pluck discuss Consolidated Tape in the EU and UK. The episode can be found here.
In the latest in our podcast series, Split the difference, which explores divergence between the EU and UK regulatory regimes in the markets space, Jonathan Herbst, Hannah Meakin, Floortje Nagelkerke and Simon Lovegrove explore the regulatory approach to branches.
In the latest in our podcast series, split the difference, which explores divergence between the EU and UK regulatory regimes in the markets space, Hannah Meakin, Jonathan Herbst, Floortje Nagelkerke, Anna Carrier and Simon Lovegrove discuss the FCA’s recent Policy Statement on the UK equity secondary markets regime and how the new rules compare
On 9 February 2023, the European Parliament published a study on recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence.
The study summarises and discusses recent trends in financial services legislation and regulation in the UK, divergence between the EU and UK and threats from this