- The BoE began its changeover to the renewed Real Time Gross Settlement (RTGS) core
BoE publishes speech on role in wholesale payments infrastructure and innovation
HMT publishes draft legislation for regulating cryptoassets
On 29 April 2025, HM Treasury (HMT) published a draft statutory instrument (SI), the Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025, which sets out provisions to create a new regulatory regime for cryptoassets. An accompanying draft policy note has also been published.
Background
FCA publishes engagement paper on proposed AI Live Testing
On 29 April 2025, the Financial Conduct Authority (FCA) published an engagement paper setting outs its proposal to launch Artificial Intelligence (AI) Live Testing.
Background
The FCA explains that the adoption of AI by the UK financial services sector can help it to achieve its objectives of becoming a smarter regulator
FCA publishes complaints data for H2 2024
- Firm-level complaints data from firms that 500 or more complaints within this 6 month reporting period, or 1000 or more for an annual reporting period.
- Aggregate complaints data which provides an
ESMA supervisory guidelines to prevent market abuse under MiCA
On 29 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report containing supervisory guidelines on practices for Member State competent authorities (NCAs) to prevent and detect market abuse under the Regulation in markets in crypto assets (MiCA).
Objective
The guidelines apply to NCAs and are
New co-operation guidance issued by the SFO
The SFO’s new cooperation guidance SFO Corporate Guidance – GOV.UK (published on 24 April) updates the SFO’s original cooperation guidance published in 2019 and comes ahead of the new failure to prevent fraud offence coming into force in September 2025 (see here: Failure to prevent fraud: What should you be doing before September? | Global
Implementation Act on financial services contracts concluded at a distance published for consultation
On 18 April 2025, the Dutch Minister of Finance published the draft implementation act on financial services contracts concluded at a distance (the Draft Implementation Act) for consultation. The Draft Implementation Act aims to implement Directive (EU) 2023/2673 into Dutch law. The Draft Implementation Act provides for various consumer protection requirements that will apply
AFM’s expectations on the implementation of the European Accessibility Act
On 24 April 2025, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a news update concerning the European Accessibility Act (Directive (EU) 2019/882, the EAA), which will become applicable in the Netherlands as of 28 June 2025. In this news item, the AFM urges financial institutions
FCA – FG25/2 ‘Guidance for insolvency practitioners on how to approach regulated firms’
On 28 April 2025, the Financial Conduct Authority (FCA) published Finalised Guidance 25/2 ‘Guidance for insolvency practitioners on how to approach regulated firms’ (FG25/2).
Background
Last year the FCA issued Guidance Consultation, GC24/1, on proposed amendments to FG21/4: Guidance for insolvency practitioners (IPs) on how to approach regulated
CPMI-IOSCO assesses PFMI for two FMI types
On 28 April 2025, the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO) issued a report ‘Implementation monitoring of PFMI: Level 2 assessment report for the EU – PSs and CSDs / SSSs’. The report presents CPMI-IOSCO’s assessment of whether, and to what degree, the contents