Retained EU Law: A Tale of Two Statutes

The Retained EU Law (Revocation and Reform) Act 2023 and the Financial Services and Markets Act 2023 received royal assent on the same day. One is generally applicable; the other is specifically related to financial services and markets regulation. Both allow for the revocation, restatement and modification of retained EU law, though their approaches differ. This article will compare the mechanisms in each to argue that a single regime, based on the approach in REULA, would have been preferable.