UK:
Financial Services And Markets Act 2023 Receives Royal Assent
11 July 2023
Herbert Smith Freehills
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The Financial Services and Markets Act 2023 has received Royal
Assent. The Act forms part of the government's Future
Regulatory Framework Review, which was established to determine how
the UK's financial services regulatory framework should be
amended post-Brexit.
The Act will, when the relevant sections are brought into force,
revoke the UK Market Abuse Regulation and the UK Prospectus
Regulation – both of which are part of retained EU law
post-Brexit. The Financial Conduct Authority will then have the
power to set the detailed rules on when a prospectus is required
and what it should contain, and the definition and disclosure of
inside information.
For more details on the plans for prospectus regime reform, read
our full briefing here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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