Sorta, sorta not. The rules as they're stood at the moment are pretty much that already. The one change is the flares being required in addition to a plb outside of 400m. But they've also made allowance for us to carry an evds instead of having to get around with a pack of pyrotechnics attached. Far less dangerous or obtrusive.
its thanks to WWA that the required safety equipment list we need has been streamlined to whats actually useful. At one point it was possible for an over zealous dot officer to issue a fine if you didn't have a bailer and anchor with you.