The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026
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2 Provisions coming into force on 1stJanuary 2027
The following provisions of the Financial Services and Markets Act 2023 come into force on 1st January 2027— (a) section 1(1) (revocation of assimilated law relating to financial services and markets), so far as it relates to the provisions in paragraphs (b) to (d); (b) in Part 1 (assimilated direct principal legislation) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of the following provisions of the Capital Requirements Regulation— (i) Article 81 (minority interests that qualify for inclusion in consolidated Common Equity Tier 1 capital) to the extent that it is not already revoked; (ii) Article 82 (qualifying Additional Tier 1, Tier 1, Tier 2 capital and qualifying own funds) to the extent that it is not already revoked; (iii) Article 107(3) and (4) (approaches to credit risk); (iv) Article 114(7) (exposures to central governments or central banks); (v) Article 115(4) (exposures to regional governments or local authorities); (vi) Article 116(5) (exposures to public sector entities); (vii) Article 382(4)(b) (scope); (viii) Article 391 (definition of an institution for large exposures purposes); (ix) Article 497 (own funds requirements for exposures to CCPs); (c) in Part 2 (subordinate legislation) of Schedule 1, the revocation of regulation 11(5)(e) of the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (saving for certain financial services legislation relating to Gibraltar); (d) in Part 3 (EU tertiary legislation etc) of Schedule 1, the revocation of Commission Implementing Decision of 12 December 2014 on the equivalence of the supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures according to Regulation (EU) No 575/2013 of the European Parliament and of the Council.
2 Provisions coming into force on 1stJanuary 2027
The following provisions of the Financial Services and Markets Act 2023 come into force on 1st January 2027— (a) section 1(1) (revocation of assimilated law relating to financial services and markets), so far as it relates to the provisions in paragraphs (b) to (d); (b) in Part 1 (assimilated direct principal legislation) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of the following provisions of the Capital Requirements Regulation— (i) Article 81 (minority interests that qualify for inclusion in consolidated Common Equity Tier 1 capital) to the extent that it is not already revoked; (ii) Article 82 (qualifying Additional Tier 1, Tier 1, Tier 2 capital and qualifying own funds) to the extent that it is not already revoked; (iii) Article 107(3) and (4) (approaches to credit risk); (iv) Article 114(7) (exposures to central governments or central banks); (v) Article 115(4) (exposures to regional governments or local authorities); (vi) Article 116(5) (exposures to public sector entities); (vii) Article 382(4)(b) (scope); (viii) Article 391 (definition of an institution for large exposures purposes); (ix) Article 497 (own funds requirements for exposures to CCPs); (c) in Part 2 (subordinate legislation) of Schedule 1, the revocation of regulation 11(5)(e) of the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (saving for certain financial services legislation relating to Gibraltar); (d) in Part 3 (EU tertiary legislation etc) of Schedule 1, the revocation of Commission Implementing Decision of 12 December 2014 on the equivalence of the supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures according to Regulation (EU) No 575/2013 of the European Parliament and of the Council.
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