The Regulatory Initiatives Forum Grid (the ‘Grid’) is a biannual publication that sets out the regulatory pipeline. It enables the financial services industry and other stakeholders to understand – and plan for – the timing of the initiatives that may have a significant operational impact on them.
This Grid is published by the Financial Services Regulatory Initiatives Forum (the Forum), launched in 2020 to strengthen coordination between Forum members. The Forum is comprised of the Bank of England (including the Prudential Regulation Authority), Financial Conduct Authority, Payment Systems Regulator, Competition and Markets Authority, Financial Reporting Council, The Pensions Regulator, and Information Commissioner’s Office, with HM Treasury attending as an observer member.
This is the eighth edition of the Regulatory Initiatives Grid. The previous publication, due in May 2024, was postponed following the announcement of the General Election. Although the Forum published an interim update in October 2024, this edition reflects the significant reprioritisation that has taken place since the new Government came to power.
Among the initiatives included in eighth edition of the Grid are those which will support growth, competitiveness, investment and innovation, while maintaining financial stability and consumer protection. Examples include the Bank of England’s Digital Securities Sandbox and the PRA’s Matching Adjustment Investment Accelerator.
The Grid includes additional information where changes to our work programme could have a significant impact on firms’ planning. For example, in January 2025, the PRA (in consultation with HM Treasury) announced its decision to delay implementation of Basel 3.1 by 1 year to 1 January 2027 to allow greater clarity to emerge about plans for implementation in the United States. The PRA has set out the timetable for files impacted by the Basel 3.1 delay in this Grid publication, particularly the delivery of Strong and Simple.
The Grid is normally published on a biannual basis where possible.