We are setting out the planned regulatory initiatives for the next 12 months.
This new 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 and the Competition and Markets Authority, with HM Treasury as an observer member.
We will publish this Grid at least twice a year to help manage the operational impact on firms of implementing initiatives from the Forum members.
This will help in any environment. But it’s especially necessary during the current coronavirus (Covid-19) crisis. The Forum members have worked closely with firms to coordinate their response and part of this has been to cancel or delay several initiatives to reduce operational burdens on firms. This is illustrated in the Grid.
Next steps – give us your feedback
The Grid provides detail on the timing of initiatives by quarter over a 12-month horizon – in future editions we intend to extend this to 24 months.
This is a one-year pilot exercise. We want to make the Grid as useful as possible. So, we strongly encourage you to engage with it and let us know how we can develop it [email protected].