On 17 December 2024, the Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.

The Regulations, relying on the powers set out in section 17(6) of the Financial Services and Markets Act 2023, will bring the following relevant enactments into scope of the Financial Market Infrastructure (FMI) Sandbox powers:

• The Stock Transfer (Gilt-edged Securities) (CGO Service) Regulations 1985.
• The Government Stock Regulations 2004.
• The Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
• Prospectus Regulation (Regulation (EU) 2017/1129 of the European Parliament and of the Council.

As a result of the Regulations, HM Treasury will be able to apply, disapply or modify the effect of these pieces of legislation by way of negative statutory instrument (SI) when establishing new FMI Sandboxes or modifying existing sandboxes. Each negative SI will set out in detail the specific changes being made.