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ARTICLE · 21 DECEMBER 2022

What's Next For The UK And The EU?

Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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As we make the transition from 2022 to 2023, this is a good time to look ahead to developments in the UK and the EU that will likely impact the financial services industry. Here are some observations.

European UnionFinance and Banking
Michael Newell
Michael Newell
Alix Prentice
Alix Prentice
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As we make the transition from 2022 to 2023, this is a good time to look ahead to developments in the UK and the EU that will likely impact the financial services industry. Here are some observations.

What Is Next in the UK in 2023?

Financial Services and Markets Bill

Chancellor Hunt's proposed reforms, discussed separately here, derive from the FSM Bill, introduced to Parliament on 20 July 2022 and currently in its second reading in the House of Lords. The Bill is cast as a revised blueprint for regulation that takes the existing Financial Services and Markets Act 2000 and sets up new regulatory architecture. We covered the Bill here.

SDR

A key regulatory focus for 2023 will be the progression of the UK's Sustainability Disclosure Requirements ("SDR") and investment labels regime, which is designed to tackle greenwashing and retain trust in sustainable products. The regime proposes to introduce 3 product labels (Sustainable Focus, Sustainable Improver

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