In a written statement to Parliament on 9 December 2022, the Chancellor set out a set of plans to amend regulations with the goal to make the UK the world’s most innovative and competitive global financial center. A full summary of the proposed regulatory changes can be found on the website GOV.UK, which contains over 30 independent initiatives. Highlights of the changes which might have an impact on UK MiFIR and EMIR Transaction Reporting regimes are as follows;
Launching a Call for Evidence on reforming the Short Selling Regulation
Commencing a review into reforming the Senior Managers & Certification Regime in Q1 2023
Committing to having a regime for a UK consolidated tape in place by 2024
Please note: there are no initiatives to repeal EMIR or MiFIR reporting requirements, or those planned for EMIR RTS Rewrite and the MiFIR reporting amendments.
Control Now will continue to monitor for updates and inform the market via our news section and summary quarterly in our newsletter.