Financial Services Act 2021

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

• 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