On 24 March 2023, HM Treasury and the FCA issued a statement providing an update on the criminal market abuse regime (the regime). In the Economic Crime Plan 2019-22, the government and FCA committed to jointly reviewing the regime within the wider context of the Future Regulatory Framework (FRF) Review. The statement provides that the FCA and HM Treasury have now completed their review of the regime and have identified a number of areas that need updating. The government will consider what changes to make to the regime alongside any reforms to the Market Abuse Regulation which it intends to replace with UK-specific legislation as part of its FRF programme. A timetable for this will be set out in due course.