CPMI-IOSCO assesses that the United Kingdom has implemented the Principles for financial market infrastructures for two FMI types, but recommends some improvements
Why this matters
This is a published assessment report from CPMI-IOSCO evaluating UK implementation of the Principles for Financial Market Infrastructures as of September 2023. The report confirms broad compliance for payment systems but identifies improvement areas for CSDs/SSSs, particularly in risk and governance principles. It is informational in nature (assessment/monitoring report) rather than a new binding obligation, making it noteworthy guidance with regulatory signals. Urgency is null as this is a retrospective assessment with no immediate compliance deadline stated.
AI-generated classification rationale, not a full analysis. Verify with the original BIS source before acting. Full disclaimer.
What the BIS said
The UK's framework for systemically important payment systems and central securities depositories/securities settlement systems is complete and consistent with the CPMI-IOSCO Principles for financial market infrastructures (PFMI) in most aspects. The CPMI-IOSCO assessment identified some areas for improvement where…
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Context
Bank for International Settlements (BIS) — Hosts the Basel Committee, whose capital and liquidity standards national regulators implement. We track 62 updates from them.
Global standard-setters whose frameworks are adopted into national regulation. Browse all International updates.
This update is classified under Prudential / Capital Requirements, Senior Managers / Governance, Capital Markets & Trading and Payments & E-Money.