UK regulators detail future initiatives in Grid
The Financial Services Regulatory Initiatives Forum has published its tenth biannual Grid, outlining the regulatory pipeline for the UK financial services industry. It helps stakeholders understand and plan for initiatives with significant operational impact.
A roadmap for financial services
The Financial Services Regulatory Initiatives Forum has released its tenth biannual Grid, a key publication outlining the regulatory pipeline for the UK financial services industry.
This Grid enables firms and stakeholders to understand and proactively plan for initiatives with significant operational impacts.
The Forum, launched in 2020, comprises key UK regulators including the Bank of England (with the Prudential Regulation Authority), the Financial Conduct Authority, and the Payment Systems Regulator, with HM Treasury attending as an observer member.
This collaborative effort aims to strengthen coordination among its members.
Growth agenda and streamlined regulation
The initiatives within the Grid are designed to strengthen the foundations for growth by ensuring financial stability, increasing competition, facilitating innovation, boosting consumer confidence, and supporting investment.
These objectives align with the Government's growth agenda and recent financial services reforms, including the Financial Services Bill.
Regulators continue to work collaboratively to streamline initiatives and minimise duplicative requests from the industry, a cooperative approach seen in the Payments Forward Plan and the oversight of pension reform.
The overall aim is to ensure the UK's financial services sector is regulated proportionately and effectively, strengthening its position as a world-leading financial centre.
Source: Tenth edition of the Regulatory Initiatives Grid
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