On 9 June 2025, a draft statutory instrument (SI) – the Financial Services and Markets Act 2023 (Capital Buffers and Macro-prudential Measures) (Consequential Amendments) Regulations 2025 – was published on legislation.gov.uk, along with a draft explanatory memorandum.
The draft SI makes technical amendments to legislation following the revocation and restatement of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (the Capital Buffers Regulations), with the aim of ensuring that the amended legislation will continue to operate effectively after that revocation and restatement.
The Capital Buffers Regulations are partly restated by the Capital Buffers and Macro-prudential Measures Regulations 2025, which come into force on 31 July 2025.
The amendments made by the draft SI include replacing references to the Capital Buffers Regulations with references to the Capital Buffers and Macroprudential Measures Regulations 2025, as well as revoking references to provisions of those Regulations that will no longer because they are not being restated (such as references to the Global Systemically Important Institutions buffer).
Next steps
Once made, the draft SI will come into force on 30 November 2025.