The Regulatory Initiatives Forum Grid (the ‘Grid’) is a biannual publication that sets out the regulatory pipeline. It enables the financial services industry and other stakeholders to understand – and plan for – the timing of the initiatives that may have a significant operational impact on them.
This Grid is published by the Financial Services Regulatory Initiatives Forum (the Forum), launched in 2020 to strengthen coordination between Forum members. The Forum is comprised of the Bank of England (including the Prudential Regulation Authority), Financial Conduct Authority, Payment Systems Regulator, Competition and Markets Authority, Financial Reporting Council, The Pensions Regulator, and Information Commissioner’s Office, with HM Treasury attending as an observer member.
This Grid contains initiatives designed to strengthen the foundations for growth by ensuring financial stability, as well as initiatives that may have the direct benefit of increasing competition, facilitating innovation, boosting consumer confidence and trust, and supporting investment.
Forum members continue to support the Government’s growth agenda, advance their individual objectives and deliver against their commitments on growth and competitiveness. This is consistent with the Government’s recent financial services reforms, including the Financial Services Bill, which supports growth in the sector.
Regulators continue to work together as authorities seek to streamline regulatory initiatives and minimise duplicative requests from industry.
This collaborative approach can be seen in focused areas like the Payments Forward Plan produced by the Payments Vision Delivery Committee, and the oversight of pension reform by the Pensions Reform Steering Group.
We will maintain our efforts to work collaboratively, support growth, deliver on our objectives and make sure the UK’s financial services sector is regulated proportionately and effectively, and strengthen the UK as a world leading financial centre.