The deadline is six months after the European Union’s June 2021 date for implementing its versions of the rules, showing how Britain is decoupling from EU financial regulations as post-Brexit transition arrangements finish at the end of 2020.
“We have decided to target an implementation date of 1 January 2022 for these two regimes,” the Bank of England, Financial Conduct Authority and Britain’s finance ministry said in a joint statement. The authorities said the decision to delay was a response to feedback from the industry, which had raised “concerns about the general volume of regulatory reform in 2021.”
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