On 9 October 2025, the Financial Conduct Authority (the FCA) published a Policy Statement (PS25/13) setting out final rules and feedback to the their Consultation Paper (CP24/24) on the restatement of the MiFID Organisational Regulation (MiFID Org Reg) in the FCA Handbook.
Through this Policy Statement, the FCA will replace the UK version of the MiFID Org Reg with requirements in its Handbook and the UK version of the MiFID Org Reg will be repealed. This will happen simultaneously on 23 October 2025.
The MiFID Org Reg contains firm-facing conduct rules and systems and controls rules to ensure market integrity and investor protection.
Who is this PS relevant to?
- MiFID investment firms including credit institutions and collective portfolio management investment firms.
- MiFID optional exemption ‘Article 3’ firms.
- Third country firms.
- Undertakings for Collective Investment in Transferrable Securities (UCITS) managers.
- Residual Collective Investment Scheme (CIS) operators and small authorised UK Alternative Investment Fund Managers (AIFMs).
- Occupational Pension Scheme (OPS) firms.
- Recognised investment exchanges (RIEs).
Background
On 27 November 2024, the FCA published CP24/24 on proposals to transfer the firm-facing requirements of the MiFID Org Reg into FCA Handbook rules. See our Insights article and client note on the consultation paper here: FCA CP24/24: MiFID Org Reg reform
Our client note examines the top ten things you should know about the FCA's final rules and what the next steps are.
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