Treasury has published a second statement of "new regulation". It notes that by the end of 2011 it will have achieved (where it has not already done so):

  • full FSA regulation of the sale and rent back market;
  • a protected cell regime for UK open-ended investment companies;
  • modern rules for mutuals; and
  • early implementation of parts of the amended Prospectus Directive.

(Source: Statement of New Regulation 2)