HM Treasury – Proposal for a temporary transitional power to be exercised by UK regulators

Industry News | 09/10/18

HM Treasury has published a proposal which sets out proposals for a temporary transitional tool to be exercised by the UK regulators.  The regulators will have the power to phase in requirements for UK regulated firms that will change under onshoring legislation. The power will be delegated to UK regulators in secondary legislation under the European Union (Withdrawal) Act (the Act) and will only be used in the no-deal scenario.