Future Regulatory Framework Review: Central Counterparties and Central Securities Depositories

The Future Regulatory Framework (FRF) Review was established to consider how the financial services regulatory framework should adapt to be fit for the future, and in particular to reflect the UK’s new position outside of the EU.

On 9 November 2021 the government published a consultation in which it made a series of proposals to deliver the intended outcomes of the Review, building on the strengths of the UK’s existing framework. The consultation specified that the government would set out further detail on the approach for the Bank of England’s regulation of central counterparties (CCPs) and central securities depositories (CSDs) under the FRF Review in due course. This subsequent consultation delivers on this commitment and sets out the government’s proposals in this area.