Financial Services and Markets Act 2023
legislation.gov.uk پر دیکھیںخلاصہ
The Financial Services and Markets Act 2023 is the principal post-Brexit reform of UK financial services regulation. It revokes the body of retained EU law governing financial services (Part 1 and Schedule 1) so that the rules can be replaced by a domestic framework set largely by the regulators (the FCA and PRA) under the model of the Financial Services and Markets Act 2000. It gives the regulators a new secondary objective to facilitate the international competitiveness and growth of the UK economy, strengthens their accountability to Parliament and the Treasury, and creates frameworks for regulating crypto-assets and stablecoins and for overseeing 'critical third parties' to the financial sector. It also legislates to protect access to cash by placing duties on banks and the FCA.
اہم نکات
- Revokes retained EU financial services law
- New secondary international competitiveness objective for regulators
- Crypto-asset regulation framework
- Access to cash requirements