Treasury repeals more EU laws

The latest Commencement Order made under FSMA 2023 brings into force the necessary powers to repeal various assimilated EU legislation on set dates, including:

• the MiFID Org Reg – with powers brought in from 23 October (with a few savings provisions not least to ensure consistency with the introduction of PISCES);
• the provisions of MiFIR relating to systematic internalisers, waivers for equity instruments and ancillary activities from 1 December 2025, 30 March 2026 and 1 January 2027, with further linked provisions revocable from 1 January 2028;
• revocation of the prospectus requirements from 19 January 2026; and
• the PRIIPs Regulation from 6 April 2026.