Financial Reporting Council and Financial Services Act 2021: Difference between pages

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imported>Doug Williamson
(Link with BEIS page.)
 
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)
 
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(FRC).  
''Financial services - legislation - regulation - UK - Brexit.''


The regulatory body in the UK that sets, monitors and enforces accounting, auditing and actuarial standards.


The FRC's other functions include overseeing the regulatory activities of the professional accountancy bodies regulating audit, and promoting high standards of corporate governance.  
:<span style="color:#4B0082">'''''First step in shaping UK’s financial services regime post-Brexit'''''</span>
 
:"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 ==
== See also ==
* [[Accounting standards]]
* [[Brexit]]
* [[Accounting Council]]
* [[Clearing]]
* [[Auditing Practices Board]]
* [[Financial Conduct Authority]]
* [[Actuarial Council]]
* [[Financial Markets Association]]
* [[BEIS]]
* [[Financial Services Authority]]
* [[Financial Reporting Review Panel]]
* [[Insider dealing]]
* [[Professional Oversight Board]]
* [[Investment Firms Regulation]]
* [[UK Corporate Governance Code]]
* [[Legislation]]
* [[UK Stewardship Code]]
* [[Market abuse]]
* [[Conduct Committee]]
* [[Onshore]]
* [[Regulation]]
* [[Prudential Regulation Authority]]
* [[UK EMIR]]
* [[UK MAR]]
* [[UK MiFIR]]
* [[United Kingdom]]


[[Category:Accounting,_tax_and_regulation]]
[[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_reporting]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]
[[Category:Technology]]
[[Category:Trade_finance]]
[[Category:Treasury_operations_infrastructure]]

Revision as of 02:56, 25 June 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

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