This annual publication explores some of the core focus areas for UK-regulated financial services firms in the year ahead. 2023 saw significant progress on the regulatory reform agenda, and many measures consulted on or reviewed as part of the Edinburgh Reforms will be finalised and/or implemented in the course of 2024.
We also saw the passing of the Financial Services and Markets Act 2023, many provisions of which have already come into effect and have made important changes to the UK regulatory architecture.
2024 will see more progress on the reform agenda, and the regulators are likely to be kept well-occupied with the task of reviewing retained EU legislation and rewriting it into their rulebooks, and finalising the Edinburgh workplan, which could well limit the capacity for “new” policymaking. While regulatory divergence between the UK and the EU remains an important topic, we also highlight other areas of focus such as the use of AI in financial services, the ESG regulatory agenda, and recent enforcement trends against both firms and individuals.
Read the publication here.