BoE statement on the review of rules for FMIs

The Bank of England (BoE) has published a statement of policy outlining its framework for reviewing rules applicable to financial market infrastructures (FMIs), including recognised central counterparties (CCPs), central securities depositories (CSDs), overseas CCPs, third country CSDs, critical third parties (CTPs) and recognised clearing houses which are not recognised CCPs.

The framework, introduced under the Financial Services and Markets Act 2023, aims to ensure that rules remain fit for purpose and aligned with the BoE's statutory objectives of financial stability and innovation. The review process involves four steps: monitoring; selection; choice of methods; and execution, with stakeholder engagement and transparency emphasised throughout. Reviews may be triggered by legal requirements, changes in market conditions, unintended consequences or changes in international standards. The deadline for feedback on this policy is 4 September 2026 and the BoE coordinate with other UK regulators and HM Treasury where appropriate.

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