The Financial Services and Markets Act 2023 (Commencement No. 8) Regulations 2024

Provisions coming into force on 31st December 2024

5.  The following provisions of the Act come into force on 31st December 2024—

(a) section 1(1), so far as it relates to the instruments listed in paragraph (c) and in the Schedule,

(b) section 2(1), so far as it relates to the provisions in paragraph (d) of this regulation,

(c) in Part 3 of Schedule 1, the revocation of the instruments listed in the Schedule to these Regulations(1),

(d) in Part 1 of Schedule 2 to the Act—

(i) paragraph 1, so far as it relates to the provision in sub-paragraph (ii) of this paragraph, and

(ii) paragraph 17, so far as not already in force.

(1)

The instruments listed in the Schedule to these Regulations, with the exception described subsequently, were made under Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), which is listed in Part 2 (subordinate legislation) of Schedule 1 to the Financial Services and Markets Act 2023 (c. 29) (“FSMA”) (revocation of assimilated law relating to financial services).  Commission Implementing Decision (EU) 2019/541 was made under Regulation (EU) 600/2014 of the European Parliament and Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) 648/2012, which is listed in Part 1 of Schedule 1 to FSMA.