The Financial Services Act 2021 (Commencement No. 5) Regulations 2023 were published on legislation.gov.uk, the official UK platform for publicizing legal documents. The regulations bring into force certain provisions under Section 22 of the Financial Services Act 2021, along with Schedules 6 and 8, which all contain provisions relating to the Gibraltar authorization regime which enable Gibraltar-based financial services firms to operate in the United Kingdom, contingent upon meeting certain conditions. This means that as of September 1, 2023, the regulatory framework for the Gibraltar authorization regime, as outlined in the Financial Services Act 2021, will become partially operational, with further regulations to follow.
The implemented provisions specifically relate to the definition of „Gibraltar based persons“, the definition and process of approving the authorization of activities and branches, and the powers of the regulators, among others.
The Financial Services Act 2021 (Commencement No. 5) Regulations 2023
ID
24728
Other Features
operational
process
registration
regulatory
Date Published: 2023-08-24
Date Taking Effect: 2023-09-01
Regulatory Framework: The Financial Services Act 2021
Regulatory Type: regulation
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