News

UK financial services: Beware potential regulatory pitfalls from FSMA 2023/REUL Act interaction

06 February 2024

In this FIS Horizons 2024 podcast, Hogan Lovells Counsel Andrew Eaton and Senior Associate Dervla Simm discuss the interplay between UK financial services regulatory reform and the Government’s wider ongoing initiatives to diverge from EU law post-Brexit. This includes an overview of the Financial Services and Markets Act 2023 and the Retained EU Law (Revocation and Reform) Act 2023, going on to explore how these two pivotal pieces of legislation interact with each other in a financial services context and what this means for financial services businesses in the year ahead.

UK financial services: Beware potential regulatory pitfalls from FSMA 2023/REUL Act interaction

Next steps

In 2024, we expect more than ever to be working closely with clients to engage with government to secure opportunities for meaningful change and to mitigate unintended consequences from the regulatory churn. While this all adds up to turbulence and uncertainty in the UK regulatory landscape in the short to medium term, it also provides an opportunity for businesses looking to shape their regulatory environment and engage with policymakers on how to improve regulatory outcomes.

If you would like to hear more or have any particular issues in relation to anything discussed during the podcast, please get in touch with one of the people listed above or your usual Hogan Lovells contact.

Authored by Andrew Eaton, Dervla Simm and Virginia Montgomery.