On 29 February 2024, the Financial Services and Markets Act 2023 (Commencement No. 5) Regulations 2024 were made and published on legislation.gov.uk. This statutory instrument (SI) contains the fifth set of commencement regulations made under the Financial Services and Markets Act 2023 (FSMA 2023).

The explanatory note to the SI provides further information on those provisions of FSMA 2023 that are being brought into force, including:

• The provisions relating to the Bank of England levy, which are brought fully into force on 1 March 2024 by the SI.
• Provisions concerning the accountability of the Payment Systems Regulator, which are brought into force on varying dates as set out in the SI.