Financial Services and Markets Act 2023
What Happened
Financial Services and Markets Act 2023 (FSMA 2023) received Royal Assent on 29 June 2023. This Act advances payments regulation and better reflects the future of payments, helping ensure that we have the tools we need to effectively regulate a complex, ever-changing sector. PSR Managing Director, Chris Hemsley outlined the changes to how the PSR works as a result of the Act in a blog: Making law a reality – the Financial Services and Markets Act 2023 . Delivering these reforms is a key objective of the PSR and other financial services regulators. We’ve been developing our approach so that we can comply with the new requirements and bring forward the best outcomes as quickly as possible. This includes building on our existing stakeholder engagement, and ensuring we align with the accountability requirement within the Act. This section will link to publications associated with our obligations in FSMA 2023. Timings relating to when such publications and related consultations will take place will be updated on this page.
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