The UK government has announced its programme of work to review and revise the entire regulatory framework as it applies to the UK financial services industry.

The intention behind this work is to ensure the UK’s financial services sector can have tailored rules to best suit UK markets and allow the sector to continue its evolution into a dynamic, globally competitive and sustainable sector that supports UK economic growth.

Given the scale of the work to be undertaken, neither the regulators nor the government have offered timelines or guidance as to when the changes will be completed. However, work is already underway on reviewing retained EU law and consultation papers have already started to be published on certain discrete topics. The work in this area is expected to continue at pace for several years.

This webpage is therefore intended to act as a resource to provide information in relation to those areas of the review that are expected to have the most impact on the LME and LME Clear. If you have any questions please direct these to your usual LME contact.

Useful links

HMT Future Regulatory Framework

HMT Edinburgh Reforms (includes links to current consultations and policy statements)

UK Parliament Edinburgh Reforms Inquiry

FCA Future Regulatory Framework

FCA strengthening wholesale markets

Building a smarter financial services regulatory framework

Update on Edinburgh Reforms progress - October 2023

Jeremy Hunt - Mansion House speech - July 2023

Nikhil Rathi - Mansion House speech - October 2023

Previous speeches

Chancellor Hammond Mansion House speech

The case for an open financial system - speech by Andrew Bailey

A forward look at regulation of the UK’s wholesale financial markets

Regulating the UK as a global financial centre

FCA speech on UK regulatory landscape post-Brexit and beyond

Previous consultations/calls for evidence

HMT call for evidence on UK regulatory coordination (PDF)

HMT response to the Call for Evidence on regulatory coordination (PDF)

FCA approach to international firms (PDF)

BEIS call for evidence on UK governments future international regulatory framework

Financial Services Future Regulatory Framework Review; Phase II consultation (PDF)

HMT Call for Evidence on the UK overseas Framework (PDF)

Contact us

For further information about regulatory change and how this is relevant to the LME, please email the Head of Regulation and Compliance.

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