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In April this year the Bank of England (the Bank) shared a series of proposals focused on outsourcing and third-party risk management within financial market infrastructure firms.
On 14 April 2022, the Bank of England (BoE) published three consultation papers on "Outsourcing and third party risk management" applicable to Financial Market Infrastructures (FMIs)..
Brexit
Please see the other sections for product-specific updates relating to Brexit.
Please see our Brexit financial services webpage which contains, amongst other things, tables detailing Brexit statutory instruments, equivalence decisions, EEA transitional regimes and UK regulators’ publications.
FCA and PRA on passporting in and out of Gibraltar after the transition period
On 31 December, the FCA published a new webpage on Gibraltar passporting arrangements, with the PRA publishing its respective webpage on 4 January. The regulators explain that the transitional arrangements preserving passporting rights between the UK and Gibraltar after the end of the transition period have been extended until 31 December 2021 and can be further extended until such time as the permanent arrangements of the Gibraltar Authorisation Regime are in place. The webpages set out information for firms on how to apply, the application process and applicable timelines, as well as other specifics f