Financial Services Act 2021: Difference between revisions

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imported>Doug Williamson
(Create page. Source: Allen & Overy briefing https://www.allenovery.com/en-gb/global/news-and-insights/publications/the-financial-services-act-2021)
 
imported>Doug Williamson
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* [[Brexit]]
* [[Brexit]]
* [[Clearing]]
* [[Clearing]]
* [[Financial]]
* [[Financial Conduct Authority]]
* [[Financial Conduct Authority]]
* [[Financial Markets Association]]
* [[Financial Markets Association]]
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* [[Regulation]]
* [[Regulation]]
* [[Prudential Regulation Authority]]
* [[Prudential Regulation Authority]]
* [[Retained EU law]]
* [[UK EMIR]]
* [[UK EMIR]]
* [[UK MAR]]
* [[UK MAR]]

Latest revision as of 22:40, 11 March 2023

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