On 9 January 2025, the Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 (the Order) was laid before Parliament and published, along with an explanatory memorandum.
The purpose of the Order is to ensure that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme
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We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.
On 17 December 2024, the Financial Conduct Authority (FCA) published a consultation paper, CP24/29, setting out its proposed regulatory framework for the Private Intermittent Securities and Capital Exchange System (PISCES).
Background
The Government consulted earlier this year on the PISCES, a proposed new type of trading platform that will enable
On 16 December 2024, the Financial Conduct Authority (FCA) published a discussion paper, DP24/4, on admissions and disclosures (A&D) and the market abuse regime for cryptoassets (MARC).
The proposals
The FCA has published DP24/4 to help inform the development of its rules for cryptoasset A&D and the MARC.
This article first appeared in Thomson Reuters Regulatory Intelligence.
The UK authorities have recently made a number of announcements that reaffirm and further clarify their intentions with digital assets.
On November 21, Tulip Siddiq, the economic secretary to HM Treasury, gave a speech on the government’s approach to tokenisation and regulation at the City &
On 26 November 2024, the Collective Investment Schemes (Temporary Recognition) and Central Counterparties (Transitional Provision) (Amendment) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations set out provisions to:
On 26 November 2024, the Financial Conduct Authority (FCA) published a new webpage on cryptoasset financial promotions and fiat-to-crypto on/off ramp services, which reminds firms that they should carefully consider the risks of partnering with unregistered cryptoasset firms that may be illegally promoting to UK consumers.
The FCA notes that, following engagement
On 26 November 2024, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a joint consultation paper (PRA CP16/24 / FCA CP24/23) on proposed reforms to the dual-regulated firms’ remuneration regime.
Background
In 2023, the PRA and FCA introduced changes to the remuneration regime to enhance proportionality for
On 27 November 2024, the Financial Conduct Authority (FCA) published a speech, delivered by its chief operating officer, Emily Shepperd, on ‘Setting the foundations for our future strategy’, which discusses the FCA’s new 5-year strategy for 2025-2030.
Ms Shepperd explains that the FCA is in the final year of its current