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The Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025

S.I. 2025/572 · Made 13 May 2025

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

FINANCIAL SERVICES AND MARKETS

Made 13th May 2025

The Treasury make these Regulations in exercise of the powers conferred by section 86(3) and (4) of the Financial Services and Markets Act 2023f1.

Annotations to the whole text

Footnotes

f1

2023 c. 29.

Contents

  1. 1Citation and extent
  2. 2Provisions coming into force on the day after these Regulations are made
  3. 3Provisions coming into force on 31st July 2025
  4. Signature
  5. Explanatory note

1Citation and extent

(1)

These Regulations may be cited as the Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025.

(2)

These Regulations extend to England and Wales, Scotland and Northern Ireland.

2Provisions coming into force on the day after these Regulations are made

The following provisions of the Financial Services and Markets Act 2023 come into force on the day after the day on which these Regulations are made—

(a)

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

(b)

in Part 3 (EU tertiary legislation etc.) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of Commission Delegated Regulation (EU) 2017/583 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on transparency requirements for trading venues and investment firms in respect of bonds, structured finance products, emission allowances and derivativesf1;

(c)

in Part 4 (primary legislation) of Schedule 1, the repeal of the following provisions of the Financial Services and Markets Act 2000f2—

(i)

section 55J(7A) to (7C);

(ii)

section 55KA;

(iii)

section 367(3)(za);

(d)

in Part 5 (other EU-derived legislation) of Schedule 1, the revocation of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003f3.

3Provisions coming into force on 31st July 2025

The following provisions of the Financial Services and Markets Act 2023 come into force on 31st July 2025—

(a)

section 1(1), so far as it relates to the provision in paragraph (b) of this regulation;

(b)

in Part 2 (subordinate legislation) of Schedule 1, the revocation of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014f1.

Signature

Jeff Smith

Vicky Foxcroft

Two of the Lords Commissioners of His Majesty's Treasury

13th May 2025

Explanatory note

(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.