On 25 October 2023, HM Treasury (HMT) published a letter from the Chancellor, responding to a request from the Chair of the Treasury Committee for an update on the delivery of the Edinburgh reforms.

In the letter, the Chancellor notes some of the key milestones so far in delivering the reforms, including:

  • Publishing near final legislation to reform the UK’s prospectus regime on 11 July 2023, delivering the recommendations as made in Lord Hill’s UK Listing Review.
  • Accepting all of the recommendations made to government by the independent Investment Research Review.
  • Publishing a draft Statutory Instrument to deliver a regulatory framework for a UK consolidated tape by the end of 2023.
  • Bringing forward legislation in December 2022 and March 2023 to implement reforms recommended in the Wholesale Markets Review.
  • On 7 February 2023, launching a consultation on a UK retail central bank digital currency alongside the Bank of England.
  • Launching the updated Green Finance Strategy on 30 March 2023.

A full breakdown of HMT’s progress in implementing the Edinburgh reforms, including current status and planned completion dates where relevant, is attached to the letter.