On 2 September 2024, the Financial Services and Markets Act 2023 (Commencement No. 7) 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).

Section 1 of FSMA 2023 revokes retained EU law which is referred to in Schedule 1 to FSMA 2023.

These Regulations commence that revocation for some of those instruments (or provisions of instruments), listed below:

• The Securitisation Regulations 2018.
• Those provisions of the retained EU Securitisation Regulation that have not already been revoked.
• Provisions of instruments that had amended the EU Securitisation Regulation.
• A retained instrument (Commission Delegated Regulation (EU) No 625/2014) that supplemented the Capital Requirements Regulation.  
• Instruments made under the EU Securitisation Regulation.

These instruments will be revoked with effect from 1 November 2024, to enable the new UK securitisation framework to come into force on that date.