FSM Bill gets Royal Assent

As expected, the Financial Services and Markets Act 2023 got Royal Assent on 29 June.  Heralding it, Treasury described its key features as:

• bringing the ability to tailor financial services regulation to fit UK markets – is specifically highlighted setting the path for reforms to Solvency II;
• bolstering the competitiveness of the UK as a global financial centre and delivering better outcomes for consumers and businesses;
• enabling delivery of key Edinburgh Reforms;
• enhancing scrutiny over regulators;
• protecting free access to cash;
• introducing crucial protections for APP scam victims;
• enabling regulation of crypto-assets; and
• establishing new sandboxes to facilitate use of new technologies.