Policy paper

Building a Smarter Financial Services Regulatory Framework: Delivery Plan

This plan sets out how the government is delivering a Smarter Regulatory Framework for the UK by replacing retained EU law on financial services.

• From: HM Treasury
• Published: 11 July 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Building a Smarter Financial Services Regulatory Framework for the UK: HM Treasury’s Plan for Delivery

PDF, 236 KB, 30 pages

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Details

The Financial Services and Markets Act 2023 (FSMA 23) repeals retained EU law for financial services in order to deliver a Smarter Regulatory Framework (SRF) which is tailored to the UK. Retained EU law will be replaced with rules set by our independent and expert regulators, operating within a framework set by government and Parliament.

As part of the Edinburgh Reforms, HM Treasury published the policy statement Building a Smarter Financial Services Framework for the UK. That document set out the government’s policy approach. This follow-up paper describes how HM Treasury will deliver this approach in practice.

Published 11 July 2023