Citation and extent

1. —(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Commencement No. 6) Regulations 2024.

(2) These Regulations extend to England and Wales, Scotland and Northern Ireland.

Revocation of assimilated law on 31st December 2024

2. The following provisions of the Financial Services and Markets Act 2023 come into force on 31st December 2024—

(a) section 1(1) (revocation of assimilated law relating to financial services and markets) so far as it relates to the instruments listed in paragraphs (b) to (d) and in the Schedule, and to the extent that those instruments are not already revoked;

(b) in Part 2 (subordinate legislation) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of—

(i) the Solvency 2 Regulations ( S.I. 2015/575 );

(ii) the Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 ( S.I. 2019/407 );

(c) in Part 3 (EU tertiary legislation etc) of Schedule 1, the revocation of the instruments listed in the Schedule to these Regulations( 2 );

(d) in Part 5 (other EU-derived legislation) of Schedule 1, the revocation of the Insurance and Reinsurance Undertakings (Prudential Requirements) (Risk Margin) Regulations 2023( 3 ).

Regulation 2(c)

Schedule EU tertiary legislation revoked on 31st December 2024

• Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)( Directive 2009/138/EC 4 )

• Commission Implementing Regulation (EU) 2015/460 of 19 March 2015 laying down implementing technical standards with regard to the procedure concerning the approval of an internal model in accordance with of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2015/462 of 19 March 2015 laying down implementing technical standards with regard to the procedures for supervisory approval to establish special purpose vehicles, for the cooperation and exchange of information between supervisory authorities regarding special purpose vehicles as well as to set out formats and templates for information to be reported by special purpose vehicles in accordance with of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2015/498 of 24 March 2015 laying down implementing technical standards with regard to the supervisory approval procedure to use undertaking-specific parameters in accordance with of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2015/499 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be used for granting supervisory approval for the use of ancillary own-fund items in accordance with of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 11 November 2015 laying down implementing technical standards with regard to the lists of regional governments and local authorities, exposures to whom are to be treated as exposures to the central government in accordance with Regulation (EU) 2015/2011 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 11 November 2015 laying down implementing technical standards with regard to the procedures for decisions to set, calculate and remove capital add-ons in accordance with Regulation (EU) 2015/2012 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 11 November 2015 laying down implementing technical standards on the procedures for assessing external credit assessments in accordance with Regulation (EU) 2015/2015 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 11 November 2015 laying down the implementing technical standards with regard to the equity index for the symmetric adjustment of the standard equity capital charge in accordance with Regulation (EU) 2015/2016 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 11 November 2015 laying down implementing technical standards with regard to the adjusted factors to calculate the capital requirement for currency risk for currencies pegged to the euro in accordance with Regulation (EU) 2015/2017 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 2 December 2015 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Regulation (EU) 2015/2450 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 2 December 2015 laying down implementing technical standards with regard to the procedures, formats and templates of the solvency and financial condition report in accordance with Regulation (EU) 2015/2452 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2016/165 of 5 February 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 1 January until 30 March 2016 in accordance with of the European Parliament and of the Council (Solvency II) Directive 2009/138/EC

• Commission Delegated Regulation (EU) 2016/467 of 30 September 2015 amending Commission Delegated Regulation (EU) 2015/35 concerning the calculation of regulatory capital requirements for several categories of assets held by insurance and reinsurance undertakings

• Commission Implementing Regulation (EU) 2016/869 of 27 May 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2016 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 8 August 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2016 in accordance with Regulation (EU) 2016/1376 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 9 September 2016 laying down implementing technical standards with regard to the procedures for the application of the transitional measure for the equity risk sub-module in accordance with Regulation (EU) 2016/1630 of the European Parliament and of the Council Directive 2009/138/EC

• Commission Implementing of 10 November 2016 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September until 30 December 2016 in accordance with Regulation (EU) 2016/1976 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Delegated of 22 August 2016 correcting the German language version of Delegated Regulation (EU) 2016/2283 Regulation (EU) 2015/35 supplementing of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2017/309 of 23 February 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2016 until 30 March 2017 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of insurance and reinsurance Directive 2009/138/EC

• Commission Delegated Regulation (EU) 2017/669 of 16 December 2016 correcting the Bulgarian, Croatian, Czech, Estonian, French, Greek, Lithuanian, Maltese, Romanian, Slovak and Swedish language versions of Delegated Regulation (EU) 2015/35 supplementing of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2017/812 of 15 May 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March until 29 June 2017 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 2 August 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June until 29 September 2017 in accordance with Regulation (EU) 2017/1421 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Delegated of 8 June 2017 amending Delegated Regulation (EU) 2017/1542 Regulation (EU) 2015/35 concerning the calculation of regulatory capital requirements for certain categories of assets held by insurance and reinsurance undertakings (infrastructure corporates)

• Commission Implementing of 9 November 2017 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September 2017 until 30 December 2017 in accordance with Regulation (EU) 2017/2015 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2018/165 of 31 January 2018 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2017 until 30 March 2018 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2018/730 of 4 May 2018 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March 2018 until 29 June 2018 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 30 July 2018 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2018 until 29 September 2018 in accordance with Regulation (EU) 2018/1078 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Delegated of 1 June 2018 amending Delegated Regulation (EU) 2018/1221 Regulation (EU) 2015/35 as regards the calculation of regulatory capital requirements for securitisations and simple, transparent and standardised securitisations held by insurance and reinsurance undertakings

• Commission Implementing Regulation (EU) 2019/228 of 7 February 2019 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2018 until 30 March 2019 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2019/699 of 6 May 2019 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March 2019 until 29 June 2019 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 30 July 2019 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2019 until 29 September 2019 in accordance with Regulation (EU) 2019/1285 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 7 November 2019 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September 2019 until 30 December 2019 in accordance with Regulation (EU) 2019/1902 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2020/193 of 12 February 2020 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2019 until 30 March 2020 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Delegated Regulation (EU) 2020/442 of 17 December 2019 correcting Delegated Regulation (EU) 2015/35 supplementing of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) Directive 2009/138/EC

• Commission Implementing Regulation (EU) 2020/641 of 12 May 2020 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 March 2020 until 29 June 2020 in accordance with of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 31 July 2020 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2020 until 29 September 2020 in accordance with Regulation (EU) 2020/1145 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC

• Commission Implementing of 9 November 2020 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September 2020 until 30 December 2020 in accordance with Regulation (EU) 2020/1647 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance Directive 2009/138/EC