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The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022

01 March 2022

Proposing MP
John Glen Con
Salisbury
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

The statement addresses the implementation of Basel 3 standards and the Investment Firms Prudential Regime (IFPR) through the Financial Services Act 2021.

Action Requested

This instrument, made under powers in the Financial Services Act 2021 and other acts, will support the implementation of IFPR and Basel 3 standards. The draft instrument and explanatory memorandum will be published online for public scrutiny before being laid in Parliament.

Key Facts

  • This instrument is part of a package to implement the IFPR and Basel 3 standards.
  • It uses powers from the Financial Services Act 2021, Banking Act 2009, and European Union (Withdrawal) Act 2018.
  • The draft instrument will be published online for at least 28 days before being laid in Parliament.
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