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(This note is not part of the Regulations)
These Regulations are the ninth commencement regulations made under the Financial Services and Markets Act 2023 (c. 29) (“the Act”).
Section 1 of the Act revokes and repeals assimilated law which is referred to in Schedule 1 to the Act. These Regulations bring into force section 1(1) and Parts 2 to 5 of Schedule 1, so far as they relate to the instruments and provisions listed in regulations 2(b) to (d) and regulation 3.
Regulation 2(b) commences the revocation of the Commission Delegated Regulation related to the trading of instruments on trading venues. The provisions of the Financial Services and Markets Act 2000 (c. 8) in regulation 2(c) and the Order in regulation 2(d) relate to insurance. The provisions commenced by regulation 2 come into force on the day after the day on which these Regulations are made.
Regulation 3 commences the revocation of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (S.I. 2014/894) on 31st July 2025.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. A full impact assessment has been published in relation to the Act and copies can be obtained from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ or at https://bills.parliament.uk/publications/49053/documents/2621.
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