Rule detail : 211538

UK Treasury Revokes SLV2 Legislation

UK Treasury issued Financial Services and Markets Act 2023 (commencement No. 6) Regulations 2024 (StIn 2024/620) bringing into force provisions of FSMA 2023 (UK).
Brings into force FSMA 2023, s 1, revoking retained law in Sch. 1 on Dec. 31, 2024.
Follows UK Treasury Feb. 2024 issued FSMA 2023 commencement no 5, see #202922.
Revocation of Retained EU Law
Concerns revocation of Solvency 2 Regulations (StIn 2015/575); the Solvency 2 and Insurance (Amendment, etc) (EU Exit) Regulations 2019 (StIn 2019/407).
Insurance and Reinsurance Undertakings (Prudential Requirements) (Risk Margin) Regulations 2023 (StIn 2023/1346).
Commenced revocation of EU tertiary legislation as listed in Schedule to regulations.
Solvency II regulation (SLV2 Reg 2015/35) and implementing technical standards.
Reg 2015/460, Reg 2015/462, Reg 2015/498, Reg 2015/499, Reg 2015/2011.
Reg 2015/2012, Reg 2015/2015, Reg 2015/2016, Reg 2015/2017, Reg 2015/2450.
Reg 2015/2452, Reg 2016/165, Reg 2016/467, Reg 2016/869, Reg 2016/1376.
Reg 2016/1630, Reg 2016/1976, Reg 2016/2283, Reg 2017/309, Reg 2017/669.
Reg 2017/812, Reg 2017/1421, Reg 2017/1542, Reg 2017/2015, Reg 2018/165.
Reg 2018/730, Reg 2018/1078, Reg 2018/1221, Reg 2019/228, Reg 2019/699.
Reg 2019/1285, Reg 2019/1902, Reg 2020/193, Reg 2020/442, Reg 2020/641, Reg 2020/1145, Reg 2020/1647.
In Sep. 2024, UK GVT published FSMA 2023 commencement no. 7, see #224783.

Regulators	UK Treasury
Entity Types	Ins
Reference	UKSI, StIn 2024/620, 5/9/2024; FSMA 2023 (UK); Rpl StIn 2019/407, StIn 2015/575, StIn 2023/1346; SLV2 Reg 2015/35, Dir 2009/138; Brexit; Citation: StIn 2024/620; StIn 2019/407; StIn 2015/575; SLV2 Reg 2015/35; Reg 2015/460; Reg 2015/498; Reg 2015/499; Reg 2015/2011; Reg 2015/2012; Reg 2015/2015; Reg 2015/2016; Reg 2015/2017; Reg 2015/2450; Reg 2015/2452; Reg 2016/165; Reg 2016/467; Reg 2016/869; Reg 2016/1376; Reg 2016/1630; Reg 2016/1976; Reg 2016/2283; Reg 2017/309; Reg 2017/669; Reg 2017/812; Reg 2017/1421; Reg 2017/1542; Reg 2017/2015; Reg 2018/165; Reg 2018/730; Reg 2018/1078; Reg 2018/1221; Reg 2019/228; Reg 2019/699; Reg 2019/1285; Reg 2019/1902; Reg 2020/193; Reg 2020/442; Reg 2020/641; Reg 2020/1145; Reg 2020/1647;
Functions	Compliance; Financial; Legal; Operations; Reinsurance; Reporting; Treasury
Countries	United Kingdom
Category
State
Products	Insurance; Insurance-Casualty; Insurance-Health; Insurance-Life; Insurance-Property
Regions	EMEA
Rule Type	Final
Rule Date	5/9/2024
Effective Date	12/31/2024
Rule Id	211538
Linked to	N/A
Reg. Last Update	5/9/2024
Report Section	UK