This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of Regulation (EU) 2016/1011 (OJ L 171/1) (the EU Benchmarks Regulation) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: Benchmarks Regulation—quick guide [Archived]. During the implementation period beginning on 1 January 2020 and ending on 31 January 2020 (IP completion day), the EU Benchmarks Regulation was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • EU Benchmarks Regulation provisions, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, form part of EU retained law and accordingly will apply in the UK—see: Onshored Benchmarks Regulation—from 1 January 2021 and Retained Regulation (EU) 2016/1011 (UK Benchmarks Regulation), and • EU Benchmarks Regulation provisions which

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of coronavirus (COVID-19)-related amendments to the Capital Requirements Regulation (EU) 575/2013 (the EU CRR) and Regulation (EU) 2019/876 (EU CRR II), made by Regulation (EU) 2020/873 (OJ L 204/4) (the EU Amending Regulation), under UK law with effect from 1 January 2021. For more detailed information on the effect of Brexit on prudential regulation and the CRR, see Practice Note: Impact of Brexit: CRR and prudential regulation—quick guide [Archived], and for more detailed information on the targeted EU banking package issued in response to the coronavirus pandemic, see Practice Note: Coronavirus (COVID-19)—targeted EU banking package. For high-level information on the status of the EU CRR and EU CRR II with effect from 1 January 2021, see Practice Note: Quick Look Brexit Financial Services Legislation Status Guide—CRR [Archived]. The EU Amending Regulation was proposed by the European Commission on 28 April 2020 as part of a banking package of targeted legislative

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of the Capital Requirements Directive IV (Directive 2013/36/EU) (EU CRD IV), and Directive (EU) 2019/878 (OJ L 150/253) (EU CRD V) which amends it, under UK law with effect from 1 January 2021. For more detailed information on the effect of Brexit on prudential regulation, see Practice Note: Impact of Brexit: CRR and prudential regulation—quick guide [Archived]. For a high-level overview of the status of the Capital Requirements Regulation (EU) 575/2013 (EU CRR) and Regulation (EU) 2019/876 (EU CRR II) under UK law with effect from 1 January 2021, see Practice Note: Quick Look Brexit Financial Services Legislation Status Guide—CRR [Archived]. For more information on the post-Brexit prudential regime in the UK, see Practice Note: Introduction to the UK prudential regime for banks, building societies and systemically important investment firms. EU CRD IV was implemented into UK law by sector-specific UK legislation including the Regulated Covered Bonds Regulations 2008 SI 2008/346, the

ARCHIVED: This Practice Note has been archived and is not maintained. For developments, relating to the CRR in the EU and UK post Brexit, including the developments summarised in this Practice Note, see the following Practice Notes: EU CRD IV package—essentials, UK Capital Requirements Regulation (UK CRR)—technical standards [Archived], The EU banking package—CRD V, CRR II, BRRD II and SRMR II [Archived], Introduction to the UK prudential regime for banks, building societies and systemically important investment firmsFLASHCARD—EU CRR III, CRD VI and the ‘daisy chain’ proposal [Archived]. This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of the Capital Requirements Regulation (EU) 575/2013 (the EU CRR), and Regulation (EU) 2019/876 (EU CRR II) which amends it, under UK law with effect from 1 January 2021. For more detailed information on the effect of Brexit on prudential regulation and the EU CRR, see Practice Note: Impact of Brexit: CRR and prudential regulation—quick guide [Archived]. For high-level information on the status of the coronavirus (COVID)-related

This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of the Central Securities Depositories Regulation (EU) 909/2014 (OJ L 257/1) (EU CSDR) under UK law from 1 January 2021. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), the EU CSDR was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • the EU CSDR and the EU CSDR level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, will form part of EU retained law and accordingly will apply in the UK—see: Retained Regulation (EU) 909/2014 (UK CSDR), and • provisions of the EU CSDR which apply from dates falling

This Practice Note has been archived and is no longer maintained. It provides high-level information on the status of the European Market Infrastructure Regulation (EU) 648/2012 (EMIR) under UK law from 1 January 2021. This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of the European Market Infrastructure Regulation (EU) 648/2012 (OJ L 201/1) (EU EMIR) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: EMIR—quick guide. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), EMIR was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • EMIR and the EMIR level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, form

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of the Investment Firms Regulation (EU) 2019/2033 (EU IFR) and the Investment Firms Directive (EU) 2019/2034 (EU IFD) under UK law with effect from 1 January 2021. For more detailed information on the effect of Brexit on the prudential regime for investment firms, see Practice Note: Impact of Brexit: CRR and prudential regulation—quick guide—Background to UK implementation of CRR II, CRD V, IFR and IFD. For more information on the UK’s post-Brexit prudential regime for investment firms, see Practice Note: The UK investment firms prudential regime (IFPR). Having entered into force on 25 December 2019, the EU IFR began to apply on 26 June 2021 (except for certain provisions which began to apply in December 2019 and March 2020), and EU Member States were required to transpose the EU IFD into national law by 26 June 2021. As a result, during the implementation period which began on 31 January 2020 and ended

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of Regulation (EU) 596/2014 (OJ L 173/1) (the EU Market Abuse Regulation) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: Market Abuse Regulation—quick guide. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), the EU Market Abuse Regulation was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • the EU Market Abuse Regulation, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, forms part of EU retained law and accordingly applies in the UK—see: Onshored Market Abuse Regulation—from 1 January 2021 and Retained Regulation (EU) 596/2014 (the UK Market Abuse Regulation)

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of Regulation (EU) 1286/2014 on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) (PRIIPs Regulation) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: Packaged retail and insurance-based investment products (PRIIPs)—quick guide [Archived] and Packaged Retail and Insurance-based Investment Products (PRIIPs)—essentials. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), the PRIIPs Regulation was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020, and the Withdrawal Agreement between the UK and the EU. With effect from IP completion day: • the PRIIPs Regulation and the PRIIPs Regulation level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, will form part of EU direct retained law and accordingly will apply

This Quick Look Brexit Financial Services Legislation Status Guide provides high-level information on the status of Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse and amending Regulation (EU) 648/2012 (SFTR) under UK law from 1 January 2021. For more detailed information, including on reporting, see Practice Note: Impact of Brexit: SFTR—quick guide [Archived]. For an overview of Financial Services materials on Brexit, see Practice Note: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime [Archived]. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), SFTR was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020, and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • SFTR and the SFTR level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, are part of EU direct retained

This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of Regulation (EU) 2017/2402 (OJ L 347/35) (EU Securitisation Regulation) under UK law from 1 January 2021. For more detailed information, see Practice Note: Impact of Brexit: Securitisation Regulation—quick guide [Archived]. During the implementation period beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day), the EU Securitisation Regulation was directly applicable in the UK in accordance with the European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), and the Withdrawal Agreement between the UK and the EU. With effect from 1 January 2021: • the EU Securitisation Regulation and the EU Securitisation Regulation level 2 measures, as modified by statutory instruments (SIs) issued as part of the onshoring process under EU(W)A 2018, will form part of EU retained law and accordingly apply in the UK—see: Onshored Securitisation Regulation—from 1 January 2021 and Retained Regulation (EU) 2017/2402 (UK Securitisation

This Brexit Financial Services Legislation Status Guide provides high-level information on the status of EU legislation that regulates the payments sector, namely: • the second Electronic Money Directive (Directive 2009/110/EC) (2EMD) • the Cross Border Payments Regulation (Regulation (EC) 924/2009) (CBPR) as amended by Regulation (EU) 2019/518 (CBPR2) • the Regulation establishing technical and business requirements for credit transfers and direct debits in euro and amending the CBPR (Regulation (EU) 260/2012 (SEPA Regulation)) • the Payment Accounts Directive (Directive 2014/92/EU) (PAD) • the recast Payment Services Directive (Directive (EU) 2015/2366) (PSD2), and • the Interchange Fee Regulation (Regulation EU) 2015/751) (IFR) This Practice Note should be read in conjunction with Practice Notes: • Impact of Brexit: Payment services and electronic money directives—quick guide [Archived] • Impact of Brexit: SEPA Regulation—quick guide [Archived] • Impact of Brexit: Payment accounts—quick guide [Archived] • Impact of Brexit: Interchange Fee Regulation—quick guide [Archived] During the implementation period beginning on 1 January 2020 and ending on 31 December 2020