Financial Policy Committee and Financial Services Act 2021: Difference between pages

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''UK''
''Financial services - legislation - regulation - UK - Brexit.''


(FPC).


A committee of the Bank of England with primary responsibility for identifying, monitoring and taking action to remove or reduce systemic risks, with a view to protecting and enhancing the resilience of the UK financial system.
:<span style="color:#4B0082">'''''First step in shaping UK’s financial services regime post-Brexit'''''</span>


The FPC has a secondary objective to support the economic policy of the UK government.
:"The Financial Services Act 2021... is seen as the UK’s first step in retaking control of the financial services regulatory framework post-Brexit and ensuring that the UK remains an 'open and dynamic financial centre' while delivering on the Government’s vision for a more open, technologically advanced and greener industry."


:''Allen & Overy - 2021.''


== See also==
* [[Bank of England]]
* [[Financial stability]]
* [[Monetary Policy Committee]]
* [[Systemic risk]]


Changes introduced by the Act include:
* Amending the UK's MiFIR equivalence regime for third country investment firms to reflect the EU's Investment Firms Regulation.
* Empowering the Financial Conduct Authority to specify reporting requirements for UK MiFIR-registered firms.
* Updating UK EMIR to improve access to clearing services.
* Strengthening the insider dealing and market abuse regime under UK MAR.
== See also ==
* [[Brexit]]
* [[Clearing]]
* [[Financial Conduct Authority]]
* [[Financial Markets Association]]
* [[Financial Services Authority]]
* [[Insider dealing]]
* [[Investment Firms Regulation]]
* [[Legislation]]
* [[Market abuse]]
* [[Onshore]]
* [[Regulation]]
* [[Prudential Regulation Authority]]
* [[Retained EU law]]
* [[UK EMIR]]
* [[UK MAR]]
* [[UK MiFIR]]
* [[United Kingdom]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]
[[Category:Technology]]
[[Category:Trade_finance]]
[[Category:Treasury_operations_infrastructure]]

Revision as of 19:08, 18 August 2022

Financial services - legislation - regulation - UK - Brexit.


First step in shaping UK’s financial services regime post-Brexit
"The Financial Services Act 2021... is seen as the UK’s first step in retaking control of the financial services regulatory framework post-Brexit and ensuring that the UK remains an 'open and dynamic financial centre' while delivering on the Government’s vision for a more open, technologically advanced and greener industry."
Allen & Overy - 2021.


Changes introduced by the Act include:

  • Amending the UK's MiFIR equivalence regime for third country investment firms to reflect the EU's Investment Firms Regulation.
  • Empowering the Financial Conduct Authority to specify reporting requirements for UK MiFIR-registered firms.
  • Updating UK EMIR to improve access to clearing services.
  • Strengthening the insider dealing and market abuse regime under UK MAR.


See also

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