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 14 May 2024, a statutory instrument (SI) – the Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024 – was published on legislation.gov.uk.

The SI enacts the equivalence decision, announced by the Government in January 2024, for EEA states under the UK’s Overseas Funds Regime (

On 29 April 2024, the House of Lords’ International Agreements Committee issued its 9th Report, which considers the UK-Switzerland Agreement on the Mutual Recognition of Financial Services.

The Agreement, which was signed on 21 December 2023 and laid before Parliament on 13 March 2024, aims to facilitate cross-border trade in wholesale financial services.

On 26 April 2024, the Government published a further response to the House of Commons’ Treasury Committee Second Report on the Edinburgh Reforms.

On 8 December 2023, the Treasury Committee published its Second Report 2023-24, Edinburgh Reforms One Year On: Has Anything Changed?. On 28 February 2024, the Economic Secretary to the Treasury committed

On 22 April 2024, a statutory instrument – the Financial Services and Markets Act 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024 (the SI) – was published.

The Financial Services and Markets Act 2023 (FSMA 2023) introduced several new legislative powers which work together as a set

On 11 April 2024, the Government published a Correction Slip relating to the Financial Services and Markets Act 2023.

The Correction Slip states that with regards to Schedule 2, paragraph 33, in the inserted Chapter 4A, after the italic heading “STS equivalent non-UK securitisations”, on a new line, the heading “Article 28A” should be inserted

On 22 March 2024, HM Treasury (HMT) published a Policy Paper on the next phase of “Building a Smarter Financial Services Regulatory Framework for the UK”.

The Policy Paper outlines the impact and progress of the programme so far, work underway and the Government’s approach on the next phase of the Smarter Regulatory

On 29 February 2024, the Financial Services and Markets Act 2023 (Commencement No. 5) Regulations 2024 were made and published on legislation.gov.uk. This statutory instrument (SI) contains the fifth set of commencement regulations made under the Financial Services and Markets Act 2023 (FSMA 2023).

The explanatory note to the SI provides

On 26 February 2024, a draft statutory instrument (SI) – the Financial Services and Markets Act 2023 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024 – was published on legislation.gov.uk, along with a draft explanatory memorandum.

One of the tools introduced by Financial Services Markets Act 2023 (