Statutory guidance

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

Draft Statutory Instrument: The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022

From:
HM Treasury
Published
1 March 2022

Documents

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

PDF, 255 KB, 11 pages

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Notification to Parliament

PDF, 77.4 KB, 1 page

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Explanatory Memorandum

PDF, 213 KB, 13 pages

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Written Ministerial Statement

https://questions-statements.parliament.uk/written-statements/detail/2022-03-01/hcws650

Details

  • These regulations are part of a package of instruments which update the UK’s regulatory framework with new capital and liquidity rules for banks and investment firms.

  • They ensure that the UK’s regulatory framework continues to function effectively following the UK’s withdrawal from the EU and makes important updates to implement international standards set by the Basel Committee on Banking Standards.

  • They also repeal 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.

Updates to this page

Published 1 March 2022

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