FMIs: BoE updates its supervisory approach and consults on introduction of Fundamental Rules

Article summary

Against the background of the new statutory regulatory framework for UK Financial Market Infrastructures (FMIs) set out in the Financial Services and Markets Act 2023 (FSMA 2023), the Bank of England (BoE) is consulting on proposed Fundamental Rules for UK FMIs- high-level requirements on FMIs covering the full range of the regulatory framework. Responses are due by 19 February 2025. The BoE has also published its updated supervisory approach to FMIs, it plans to engage with stakeholders on the approach in Q1 2025.