Financial Regulations Timeline 2025(70 results)
Navigate the evolving landscape of financial services regulation with our interactive 2025 Horizon Scanner. As the regulatory environment continues to transform at an unprecedented pace, staying ahead has never been more crucial. From enhanced digital asset oversight to strengthened ESG requirements and evolving operational resilience frameworks, this tracker empowers you to anticipate, prepare for, and adapt to the key regulatory changes shaping the future of financial services in the UK and EU.
January
Prudential
EBA EU-wide stress test to start
Operational Resilience
DORA becomes applicable
Wholesale Markets
ESMA to launch selection procedure for CTP for bonds
Prudential
CRR III and CRD VI will generally come into effect
Payments
PSPs must submit the first report to Pay.UK
Wholesale Markets
FCA policy statement on UK commodity derivatives regime expected
Conduct & Culture
FCA to set out its approach on a review of its retail conduct requirements
Conduct & Culture
FCA to review firms’ treatment of customers in vulnerable circumstances
ESG
UK Stewardship Code to be updated
Supervisory
FCA and FOS to publish next steps on modernising the consumer redress system
Digital Assets
HMT to consult on draft legal provisions for cryptoasset regime including stablecoins
ESG
HMT expects to legislate on ESG ratings providers
ESG
FCA may consult in 2025 on SDR and OFR fund labeling, with potential implementation in H2 2025
February
Wholesale Markets
Transition to the new regime for post-trade transparency of OTC-transactions
AI
Provisions on prohibited AI systems take effect under the EU AI Act
Digital Assets
FCA to consult on cryptoasset regime, including on stablecoins, custody and prudential requirements
March
Wholesale Markets
ESMA to submit final draft RTS 3, RTS 7a (inc. circuit breakers), ITS on SI notifications following MiFIR amendments
Operational Resilience
Deadline for firms and FMIs to have sound, effective and comprehensive operational resilience strategies, processes and systems
Wholesale Markets
End of transition period for UK counterparties to report on outstanding derivatives to comply with UK EMIR Refit framework
Wholesale Markets
Deletion of nonequity pre-trade transparency requirements for SIs and RFQ/voice trading systems becomes effective
Supervisory
FCA Board to reach decision on its transparency of enforcement investigations and revised enforcement guide
April
Operational Resilience
Deadline for first submission of the registers of information on contractual arrangements of the financial entities with ICT third-party service providers to the ESAs under DORA
Wholesale Markets
European Parliament agreed its negotiating position on Financial Data Access (FIDA)
Wholesale Markets
ESMA to submit final draft RTS 22 (transaction reporting) & RTS 24 (order book data)
Wholesale Markets
Final ESMA advice to Commission on Level 2 investment research changes
ESG
Firms relying on the FCA’s temporary extension for complying with the naming & marketing rules must fully comply
ESG
FCA to publish policy statement on extending SDR rules to portfolio managers
Wholesale Markets
FCA to publish consultation on changes to the SI regime
Prudential
Implementation of PRA supervision of branches
Supervisory
The Financial Services Growth and Competitiveness Strategy is to be launched
May
ESG
Deadline for existing funds to comply with ESMA’s guidelines on fund names using ESG or sustainability-related terms
Wholesale Markets
The European Commission is expected to adopt the revised REMIT Implementing Regulation
AI
‘Codes of Practice’ under the EU AI Act should be ready
Payments
All members of Faster Payments to use the reimbursement claim management system
Wholesale Markets
Private Intermittent Securities and Capital Exchange System (PISCES) is expected to be established (with FCA to consult and finalise rules for PISCES operators before then)
June
ESG
A potential L1 review of SFDR
Digital Assets
CRR requires Commission to propose a dedicated prudential treatment for cryptoassets
Wholesale Markets
End of equivalence for UK CCPs’recognition decisions
Wholesale Markets
ESMA to commence tender process for equities CTP
Wholesale Markets
FCA to publish final rules on public offer platforms
July
Financial Crime
The new EU AML authority (AMLA) will start its activities
Financial Crime
EBA to consult on draft technical advice on the AML and CTF framework
ESG
EBA to incorporate ESG and greenwashing considerations into existing EBA legal instruments on retail conduct and consumer protection
Operational Resilience
The first designation of critical third parties under DORA is expected
Retail Investment
Trilogues to commence on EU Retail Investment Strategy
ESG
HMT expects to endorse UK SRS standards (IFRS SDS)
Prudential
UK implementation of final Basel 3.1 rules
Digital Assets
FCA to consult on cryptoasset regime including conduct and firm standards for all RAO activities, admissions & disclosures, and market abuse
Wholesale Markets
PRA and FCA policy statements on MiFID Org Reg requirements expected
August
Prudential
EBA expects to publish results of EU-wide stress test
AI
Provisions under the EU AI Act on notifying authorities, general purpose AI models, governance, confidentiality, and most penalties takes effect
September
Wholesale Markets
Deadline for Member States to implement changes to MiFID II following EU MiFID Review
Wholesale Markets
ESMA to submit final draft RTs 2, RTS 23, CTP-related RTS (all reflecting derivatives related changes) following MiFIR amendments
Financial Crime
Failure to prevent fraud offence comes fully into force
October
Payments
End of ECB Digital Euro “preparation phase”
November
Wholesale Markets
Mandatory buy-in rules required under CSDR settlement discipline regime come into effect
December
Wholesale Markets
EU bond CTP expected to be operational
Retail Investment
Firms will need to implement the EU Retail Investment Strategy
Payments
Bank of England may start to launch prototype of digital pound
Payments
FCA and PRA to report on national payment vision
Wholesale Markets
UK bond CTP expected to be operational
Supervisory
Respond to complaints about motor finance agreements not involving a discretionary commission arrangement
ESG
SDR entity level reporting for large assets managers (AUM) >£50bn come into force
Wholesale Markets
FCA rules on transparency for bonds and derivatives and the new SI definition come into force
2025
Wholesale Markets
IOSCO to publish final report on pre-hedging
Wholesale Markets
FCA policy, statement on post-trade risk reduction services expected
Conduct & Culture
FCA to publish policy statement on tackling non-financial misconduct
Conduct & Culture
FCA, PRA and HMT to publish outcomes from review of SMCR
ESG, Conduct & Culture
FCA and PRA to publish policy statement on diversity & inclusion proposals
Wholesale Markets
FCA to publish, consultation and policy statement on transaction reporting