FIN.

Treasury makes further changes following introduction of IFPR

HM Treasury has published The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022.

This draft statutory instrument introduces further amendments following the introduction of IFPR and Basel 3 standards on 1 January 2022. In particular it repeals the Banking Act 2009 (Exclusion of Investment Firms of a Specified Description) Order 2014 as it is redundant following the removal of FCA-regulated investment firms from the UK resolution regime.

 

Lucy Hadrill