The Capital Requirements Regulation (Amendment) (EU Exit) Regulations 2021
These Regulations are made in exercise of the powers in section 8 of the European Union (Withdrawal) Act 2018. Now we have left the EU, these Regulations will ensure that the onshored Capital Requirements Regulation continues to operate effectively for UK investment firms until the introduction of the Investment Firms Prudential Regime (IFPR). To achieve that, these Regulations extend the dates of the provision exempting UK commodities dealers from specific prudential requirements until the IFPR applies to them on 1 January 2022.
Statutory instrument
Explanatory memorandum
Impact Assessment
Sifting committees’ recommendation
The sifting committees agreed with the government that this statutory instrument does not have to have a debate in parliament, though one may still occur.