Regulatory Alerts2026-05-08
Standards Under the Financial Institutions and Markets Act 2021: Friendly Societies
The regulator issued these standards under the Financial Institutions and Markets Act 2021 to establish binding compliance requirements for friendly societies. Friendly societies must now implement updated governance frameworks, financial reporting protocols, and operational controls to safeguard member interests. The standards apply immediately upon publication, with a defined transitional period allowing existing entities to align their internal policies and reporting systems.
Share