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 (

On 30 January 2024, the Economic Secretary to the Treasury, Bim Afolami, announced in a statement to the House of Commons that HM Treasury (HMT) has reached a decision regarding the equivalence assessment for EEA states under the UK’s Overseas Funds Regime (OFR).

The Government legislated in the Financial Services Act

On 20 December 2023, the FCA published Consultation Paper CP23/31 setting out detailed proposals for the reform of the UK listing regime. This follows on from the blueprint contained in its previous consultation (CP23/10) published in May 2023.

We have published a new briefing which considers the key requirements for the new equity shares in

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 19 December 2023, the Financial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023 (SI 2023/1409) (the Regulations) were published, along with an explanatory memorandum.

The Financial Services and Markets Act 2023 (FSMA 2023) repeals retained EU law (REUL) relating to financial services, to enable

On 19 December 2023, the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (the Order) (SI 2023/1411) was published, along with an explanatory memorandum.

The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (FPO) provides exemptions from the restriction on communicating financial promotions. These

On 19 December 2023, the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (SI 2023/1410) (the Regulations) were published, along with an explanatory memorandum.

The Regulations make consequential amendments arising out of provisions in, or made under, the Financial Services and Markets Act 2023 (FSMA 2023) as part of

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:

  • The BMR

On 15 December 2023, there was published on legislation.gov.uk, The Retained EU Law (Revocation and Reform) Act 2023 (Commencement No. 1) Regulations 2023.

These Regulations are the first commencement regulations made under the Retained EU Law (Revocation and Reform) Act 2023 (the Act).

Regulation 2 brings into force Schedule 1 to the Act

On 14 December 2023, statutory instrument 2023 No. 1382 (SI 2023/1382) – the Financial Services and Markets Act 2023 (Commencement No. 4 and Transitional and Saving Provisions) (Amendment) Regulations 2023 (the SI) – was published.

The SI contains the fourth set of commencement regulations made under the Financial Services and Markets Act 2023 (