GRI

Revocation of the on-shored UK Technical Standard (UKTS) 2019/348 on Simplified Obligations

News Financial services Consultations
Date: 2nd Dec, 2024 Source: Bank of England Country: United Kingdom Original Source

Brief

On February 2, 2025, the Bank of England issued a consultation paper proposing to revoke the on-shored UK Technical Standard (UKTS) 2019/348 on Simplified Obligations. The proposal aims to simplify the process for determining firms eligible for Simplified Obligations, while retaining proportionality benefits for eligible firms and authorities, and removing duplicative internal processes within the Bank.

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Bank of England

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