As part of its 'New chapter for financial services' (PDF 2.6 MB), HM Treasury (HMT) is looking to 'champion efficient and competitive' markets by reviewing the UK's wholesale capital markets regime, on-shored through MiFID II and MiFIR. Now the UK has left the EU, HMT also sees the opportunity to tailor the rules more closely to the UK market.

Over the last few years, KPMG has assisted many clients and market participants in implementing major capital markets regulatory change programmes. Although there is not complete consensus, key themes have emerged from our discussions with clients on what they would like to see changed to the regulation. Find out more in this blog.

Some of the detailed and wide-ranging changes that HMT proposes are in line with what market participants would like to see. The European Commission’s MiFID II review due in the next few months will also bring further proposals for change.

As the regulation changes and diverges across jurisdictions, KPMG insights will help keep market participants informed.

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