Treasury bulletin on FSMA out
The Treasury has published its April bulletin on the Financial Services and Markets Act (FSMA). The bulletin provides an update on new legislation, the progress on closed consultations, open consultations and future consultations.
The Treasury is planning to release a consultation paper for feedback on the UK implementation of the EC Transparency Directive. The primary legislation for implementation will be the Company Law Reform Bill.
Consultation responses are currently being considered for the Regulatory Reform Order to reduce compliance burdens and the Financial Services Authority’s (FSA) ability to waive rules.
Responses for Solvency II are due in by the end of this month. The Treasury anticipates a draft directive of Solvency II to be ready by the middle of next year.
Click here to see the bulletin in full.
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