The Bank for International Settlements' Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO) published a Level 2 assessment concluding that the United Kingdom’s legal, regulatory and oversight framework implements the Principles for financial market infrastructures (PFMI) fully for systemically important payment systems and in most respects for central securities depositories and securities settlement systems. The review assesses frameworks in place as of 30 September 2023 and finds payment-system implementation complete and consistent with all PFMI Principles, while the regime for central securities depositories and securities settlement systems is complete and consistent in most aspects. It identifies areas for improvement where implementation was rated broadly consistent, partly consistent or not consistent, particularly under risk and governance principles; developments after the assessment cut-off were not reviewed. The UK framework for central counterparties and trade repositories was previously assessed in the February 2015 report covering EU central counterparties and trade repositories.
Bank for International Settlements 2026-04-16
Bank for International Settlements' CPMI-IOSCO finds UK implementation of the Principles for financial market infrastructures complete for payment systems and mostly consistent for central securities depositories and securities settlement systems
The BIS Committee on Payments and Market Infrastructures and IOSCO published a Level 2 assessment finding that the UK framework fully implements the Principles for financial market infrastructures for systemically important payment systems and largely for central securities depositories and securities settlement systems. Based on the framework as of 30 September 2023, the review highlights remaining gaps mainly in risk and governance principles, noting that central counterparties and trade repositories were previously assessed in a February 2015 report.