Introduction
On 19 December 2022, the Financial Services and the Treasury Bureau (the FSTB) published a consultation paper (the Consultation) on proposals to enhance the regulation of crowdfunding activities in Hong Kong.
The Consultation includes various recommendations on enhancing the transparency and accountability of crowdfunding activities in Hong Kong, and includes a requirement
On 20 February 2023, the FCA published Discussion Paper 23/2 ‘Updating and improving the UK regime for asset management’ (DP23/2).
Under the Future Regulatory Framework, the government has proposed making the FCA responsible for those retained EU laws that set requirements for firms. This means the FCA will need to decide whether its
On 20 February 2023, the Financial Stability Board (FSB) published a letter from its Chair, Klaas Knot, to G20 Finance Ministers and Central Bank Governors, ahead of the G20 meeting on 24-25 February.
The letter notes the recent easing in global financial conditions but warns that, while expectations of a ‘soft landing’ for
On 20 February 2023, the Financial Stability Board (FSB) published a report on the financial stability aspects of commodities markets.
The report presents an overview of a few globally traded commodities markets that are of particular economic importance at the current juncture (crude oil, natural gas, and wheat) and examines their vulnerabilities, focussing
We have published a new briefing note, ‘HM Treasury consults on next steps for the regulation of cryptoassets‘.
The note looks at HM Treasury’s Consultation Paper on its proposed next steps for cryptoassets.
On 17 February 2023, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2023/363 of 31 October 2022 amending and correcting the regulatory technical standards (RTS) laid down in Delegated Regulation (EU) 2022/1288 as regards the content and presentation of information in relation to
On 16 February 2023, the Financial Stability Board (FSB) published a report on the financial stability risks of decentralised finance (DeFi).
The report describes DeFi as an umbrella term commonly used to describe a variety of services in crypto-asset markets that are intended to replicate some functions of the traditional financial
On 15 February 2023, the FCA published the Joint Oversight Committee’s final report on the future development of open banking in the UK.
Last year HMRC stated that their adoption of open banking had saved the public purse over £500,000 in bank fees with more than £10.5bn tax collected to date through open banking payments
On 14 February 2023, the International Organisation of Securities Commissions (IOSCO) and Committee on Payments and Markets Infrastructures (CPMI) issued a press release regarding the CPMI-IOSCO stocktake of industry progress on auctions.
In the press release the CPMI and IOSCO take stock of the industry progress made since the publication