On 15 July 2025, there was published a draft of the Financial Services (Overseas Recognition Regime Designations) Regulations 2025.

This draft statutory instrument sets out the powers and obligations in relation to HM Treasury’s (HMT) Overseas Recognition Regimes. In particular, it gives HMT the power to request information and advice from the Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority (the Financial Services Regulators), the power to impose conditions on the application of an Overseas Recognition Regime designation and requires HMT and the Financial Services Regulators to coordinate the discharge of their respective functions in relation to Overseas Recognition Regimes.