Big Changes Ahead for UK Financial Services: Key Dates to Watch

The UK's financial landscape is set for significant transformations as outlined in the latest regulations under the Financial Services and Markets Act 2023. Here's a breakdown of what to expect and when:

15th July 2025: A Sustainable Investment Shift

The UK will revoke the Regulation (EU) 2020/852, a framework established to promote sustainable investment. This move is part of a broader strategy to reshape financial services post-Brexit, moving away from EU-mandated regulations.

28th November 2025: Equivalence Determinations to be Revoked

Two critical EU Exit regulations concerning the equivalence determinations for financial services will be revoked. These include the 2019 and 2020 amendments that originally aimed to align UK regulations with EU standards post-Brexit. The UK Treasury plans to introduce new legislation to replace these.

1st January 2026: Major Overhaul of EU Financial Regulations

A sweeping revocation of several provisions under the Regulation (EU) No 575/2013 will come into effect. This regulation previously detailed prudential requirements for credit institutions and investment firms. Key articles covering everything from capital requirements to risk assessments will be revoked, signaling a major shift in how UK financial institutions operate independently of EU frameworks.

Additionally, several EU tertiary legislations will also be withdrawn. These include technical standards related to credit assessments and regulatory requirements, further distancing UK financial laws from EU legislation.

Continuation of Existing Permissions and Decisions

Despite these changes, certain permissions and regulatory decisions made under existing EU frameworks will remain valid. This includes permissions granted under the Capital Requirements Regulation, ensuring a degree of continuity for financial institutions during the transition.

Impact and Future Outlook

While these regulatory changes might seem technical, they represent the UK's strategic pivot towards a more autonomous financial regulatory environment. However, the immediate impact on the private, voluntary, or public sectors is expected to be minimal, according to the Treasury's assessment.

As the UK continues to redefine its financial services landscape, stakeholders should stay informed about upcoming legislative updates and prepare for the operational adjustments that may follow. Keep an eye on further announcements from HM Treasury as they roll out new guidelines and frameworks to replace the revoked EU regulations.