Guidance

The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018

This publication, published in April 2018, sets out HM Treasury’s proposal on transferring responsibility for maintaining ‘onshored’ EU Binding Technical Standards to UK regulators.

Documents

Details

This publication set out HM Treasury’s proposal on transferring responsibility for maintaining ‘onshored’ EU Binding Technical Standards to UK regulators. It also proposed delegating EU (Withdrawal) Act deficiency fixing powers to UK regulators for the purpose of ensuring that BTS, and regulator rules implementing EU requirements, would operate effectively in the UK from exit. The government brought forward legislation implementing this proposal in July 2018 and this has now been approved by Parliament. These Regulations dealt with all EU BTS that formed part of directly applicable EU law at the point the Regulations were made. All of these BTS are listed in the Schedule to the Regulations. In order to ensure all directly applicable BTS are covered at the point of exit, HM Treasury will bring forward a further SI to update the Schedule.

Published 19 December 2018