Delivering the Future Regulatory Framework

4.1 Applying the Future Regulatory Framework approach set out in this consultation to the vast body of retained EU law will require a significant programme of work by the government and regulators.

4.2 The government's proposed approach involves moving regulatory requirements that apply directly to firms and markets from the UK statute book and into the regulators' rulebooks. HM Treasury expects that this will require a substantial programme of legislation and we are exploring options to achieve the right balance of primary and secondary legislation within the government's wider legislative programme. Parliament will of course have the final say on the approach adopted and how that approach is applied through legislation.

4.3 HM Treasury and the regulators will also need to prioritise the areas of retained EU financial services law which are adapted first to the proposed framework approach. We welcome initial views from stakeholders on priorities. We will bring forward further detail on our approach to implementation, and welcome stakeholder views on this, in due course.

4.4 The government is committed to delivering a coherent and consistent approach across all parts of financial services regulation. Where appropriate, we will look to ensure that our wider programme of regulatory reform draws on the approach for the Future Regulatory Framework as this continues to develop.

Responding to this consultation