FIN.

Regulators update on FS Bill reforms

Treasury, PRA and FCA have updated the industry on the planned timelines for the introduction of the UK Investment Firms Prudential Regime and implementation of remaining Basel 3 reforms.  The targeted implementation date is 1 January 2022, partly in response to concerns about the volume of reforms planned for 2021.  The regulators also say Treasury will ensure the relevant secondary legislation is in place as early as possible and PRA and FCA will work hard to get rules finalised ahead of the date.

Emma Radmore