Regulatory Initiatives “no-fly zone”

30 September 2022

The Council of Financial Regulators (CoFR) have again decided, on a best endeavours basis, to observe a “no-fly zone” over the summer holidays. Specifically for the period 19 December 2022 until 20 January 2023 (inclusive) engagement with the sector will be limited, where possible, to enable staff (both at regulated entities and the regulators) to take a break and recharge for 2023.

During this period CoFR members will be seeking to avoid or minimise industry-wide engagement such as:

  • Releasing new consultations
  • Consultation deadlines falling during, or immediately after, this period
  • External engagements such as workshops or forums
  • Requests for information for thematic reviews

Agencies will of course engage with the sector should they receive direction from Ministers or should a significant unforeseen event occur.

Engagement with individual entities on specific issues will continue should it be required.