We are setting out the planned regulatory initiatives for the next 24 months.
This Grid from the Financial Services Regulatory Initiatives Forum sets out the regulatory pipeline. This is so the financial services industry and other stakeholders can understand – and plan for – the timing of the initiatives that may have a significant operational impact on them.
The Financial Services Regulatory Initiatives Forum
This forum was launched to strengthen coordination between members. It is made up of representatives of the Bank of England, Financial Conduct Authority, Prudential Regulation Authority, Payment Systems Regulator, the Competition and Markets Authority, the Information Commissioner’s Office, The Pensions Regulator and the Financial Reporting Council. HM Treasury is an observer member.
Updating the Grid
We publish the Grid twice a year to help manage the operational impact on firms of implementing initiatives from the Forum members. It also helps firms and other stakeholders plan for forthcoming initiatives. The Grid provides detail on the timing of initiatives over a 24-month horizon.
This was especially important during the start of the coronavirus (Covid-19) crisis when we published the first edition in May 2020. The Forum members worked closely with firms to coordinate their response and part of this was to cancel or delay several initiatives to reduce operational burdens on firms.
Now we continue with the more typical forward-look for users - as started with the September 2020 edition - while keeping in mind the operational disruption still facing the industry.
We received a range of helpful feedback on the Grid – some of which we implemented previously. This time, we have added a new indicator in the Grid for initiatives that might be of interest to consumers and consumer organisations.
Next steps – give us your feedback
This Grid publication marks the end of a successful one-year pilot exercise. We are pleased to confirm that the Forum will continue and that we plan to keep publishing the Grid twice a year going forward. We expect the format of the Grid to remain fairly settled but please do continue to contact us if you have any feedback at: [email protected].
07/05/2020: Information added Updated Grid added 16:55 7 May 2020