The Financial Services (Miscellaneous Amendments) Regulations, SI 2022/1223, ensure that the Treasury and Financial Conduct Authority can apply their powers under certain regulations to Gibraltarian firms in the UK financial services market. The regulations will also extend the requirement for institutional investors to conduct specific due diligence prior to investing in EU simple, transparent, and standardised (STS) securitisations, and extend the exemption from the clearing obligation in relation to EU STS securitisations to those notified prior to 11pm on 31 December 2024 (both currently apply in relation to EU STS securitisations notified prior to 11pm on 31 December 2022). The regulations come into force at 11pm on 31 December 2022.
The Financial Services (Miscellaneous Amendments) Regulations, SI 2022/1223, ensure that the Treasury and Financial Conduct Authority can apply their powers under certain regulations to Gibraltarian firms in the UK financial services market. The regulations will also extend the requirement for institutional investors to conduct specific due diligence prior to investing in EU simple, transparent, and standardised (STS) securitisations, and extend the exemption from the clearing obligation in relation to EU STS securitisations to those notified prior to 11pm on 31 December 2024 (both currently apply in relation to EU STS securitisations notified prior to 11pm on 31 December 2022). The regulations come into force at 11pm on 31 December 2022.
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