UK:
The Financial Services And Markets Act 2023: Overview
11 July 2023
Herbert Smith Freehills
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Just under a year after it was introduced in Parliament, the
Financial Services and Markets Bill 2023 received royal assent on 29 June 2023. Hailed
as a 'landmark' piece of legislation to
'regain control of the financial services
rulebook', the Financial Services and Markets Act 2023
(Act) will also enable the delivery of key
proposals announced as part of the Edinburgh Reforms last year.
We plan to publish a series of briefings in the coming weeks on
different aspects of the Act. In the meantime, we set out a brief
overview of some of the key measures from the
Act. This post will be updated with further details, including
commencement and transitional dates, when the final version of the
Act becomes available.
We have also recently published a half-year review of the
Edinburgh Reforms which tracks developments since the announcement
made by the Chancellor in December 20222. You can access our
tracker here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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