Milestone for UK financial services as Bill receives Royal Assent

Published on: 30 April 2021

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Specialist Tax Regulatory Materials

Article summary

The Financial Services Bill has received Royal Assent and is now law. Among other things, the Financial Services Act contains measures that enable the implementation of the remaining Basel III standards and a new prudential regime for investment firms, and give the Financial Conduct Authority (FCA) additional powers to oversee an orderly transition away from the LIBOR benchmark.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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