Regulation 2 Provisions coming into force on 1st January 2027

The following provisions of the Financial Services and Markets Act 2023 come into force on 1st January 2027—

(a)

section 1(1) (revocation of assimilated law relating to financial services and markets), so far as it relates to the provisions in paragraph (b);

(b)

in Part 1 (assimilated direct principal legislation) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of the following provisions of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012^f1—

(i)

Article 4 (definitions) to the extent that it is not revoked by virtue of regulation 3 of the Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026^f2;

(ii)

Article 4A (definitions: Regulators’ rules)^f3;

(iii)

Article 4B (the consolidating supervisor)^f4;

(iv)

Article 5 (definitions specific to capital requirements for credit risk).

Annotations

Footnotes

f1: EUR 2013/575.
f2: S.I. 2026/45 (C. 5).
f3: Article 4A was inserted by S.I. 2018/1401.
f4: Article 4B was inserted by S.I. 2018/1401.