Regulatory Initiatives Forum provides update following FSMA 2023 Royal Assent

The co-chairs of the Financial Services Regulatory Initiatives Forum have published an update following the Royal Assent of FSMA 2023. Given its significance for the financial services regulatory landscape, the Forum has given an interim update covering the most significant developments since its last full Grid update in February 2023.

The Forum notes that the regulators are already taking steps to operationalise new obligations and accountability mechanisms introduced under FSMA 2023.

A full update of the Grid is planned for Q4 2023. Following this, the Forum expects to return to biannual updates to the Grid.