On 3 December 2024, the Markets in Financial Instruments (Equivalence) (Singapore) Regulations 2024
were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations set out HM Treasury’s determination that Singapore’s regulatory and supervisory regime for trading in derivatives is equivalent to the UK’s and allows UK counterparties to fulfil
On 2 December 2024, the Bank of England (BoE) published a consultation paper setting out its proposal to revoke the retained EU law Technical Standard 2019/348 on Simplified Obligations (SO UKTS).
Background
Following its withdrawal from the EU, the UK retained the EU framework for determining the level of information required within
On 27 November 2024, the Financial Conduct Authority (FCA) published a consultation paper, CP24/24, on proposals to transfer the firm-facing requirements of the MiFID Organisational Regulation (MiFID Org Regulation) into FCA Handbook rules.
Background
The UK version of the MiFID Org Regulation contains conduct rules as well as systems and
On 22 November 2024, the Securitisation (Amendment) (No. 2) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations extend a temporary arrangement granting preferential prudential treatment for EU-origin simple, transparent and standardised (STS) securitisations. UK investors, where they are subject to prudential regulation, currently access lower
On 14 November 2024, HM Treasury issued a Call for Evidence on the Government’s Financial Services Growth & Competitiveness Strategy.
Once finalised the strategy will serve as the central guiding framework through which the Government will seek to achieve sustainable, inclusive growth for the financial services sector and secure the UK’s competitiveness as an international
On 11 November 2024, HM Treasury (HMT) published its response to the consultation on near-term reforms to the UK ring-fencing regime. It also published the draft Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2024 (draft Order) on legislation.gov.uk, along with a draft explanatory
On 11 November 2024, the draft Short Selling Regulations 2024 were published on legislation.gov.uk, along with a draft explanatory memorandum.
Background
The Financial Services and Markets Act 2023 repeals assimilated law in financial services, subject to commencement. That assimilated law will be replaced with rules set by the UK financial services regulators.
Purpose of
On 11 November 2024, the draft Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2024 were published on legislation.gov.uk, along with a draft explanatory memorandum.
Background
The Financial Services and Markets Act 2023 inserted a new Part 5A into the Financial Services and Markets Act 2000 (FSMA 2000)
On 31 October 2024, the draft Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024 (the draft Regulations) were published on legislation.gov.uk, along with a draft explanatory memorandum.
The draft Regulations use powers set out in section 17(6) of the Financial Services and Markets Act 2023 to bring the following
On 28 October 2024, the Financial Services and Markets Act 2023 (Commencement No. 8) Regulations 2024 were made and published on legislation.gov.uk.
These Regulations are the seventh commencement Regulations made under the Financial Services and Markets Act 2023 (FSMA 2023).
The explanatory note to the Regulations provide further information on those provisions of