The UK Government has published draft legislation to establish a regulatory framework for cryptoassets, and the Financial Conduct Authority (FCA) has published discussion and consultation papers setting out its proposed approach to regulation.
Our new briefing note looks at the new framework set out in the draft legislation, the FCA’s latest proposals, and
Gold is a commodity like no other. With its monetary function, gold is commonly used as an alternative to foreign exchange (FX) and performs the role of a “safe harbour” asset for professional and retail investors to hedge against uncertainty and volatility in the markets. Gold’s role in the heavily regulated financial markets
In the latest edition of our podcast series, Split the Difference, Jonathan Herbst, Hannah Meakin, Anna Carrier and Simon Lovegrove cover the draft UK legislation for regulating cryptoassets and recent FCA discussion paper and compare it with the EU Regulation on markets in cryptoassets regulation.
Listen to the episode here.
On 18 March 2025, HM Treasury (HMT) and the Chancellor of the Exchequer, Rachel Reeves, published a near-final version of a statutory instrument (SI) to reform the Markets in Financial Instruments Directive Organisation Regulation (MiFID Org Regulation). The draft Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 (the draft
The UK has announced the abolition of the Payment Systems Regulator (PSR), as part of its efforts to cut red tape and drive economic growth.
The move follows complaints from payment services firms that they were having to engage with three different regulators, costing them time, money and resource.
The government has therefore
On 17 March 2025, HM Treasury (HMT) published an action plan setting out its new approach to ensure regulators and regulation support growth.
Background
HMT begins the action plan by highlighting the importance of regulation, which “underpins and impacts almost all areas of the UK economy”. It warns that the current regulatory
Dear CEO – FCA looks to private markets in asset management letter
The FCA appears to be using Dear CEO letters quite liberally at the moment.
There have been two most recently addressed to:
On the latter, this letter marks an interesting shift in the FCA’s focus towards
On 5 March 2025, the Financial Conduct Authority (FCA) published its detailed findings from its multi-firm review of valuation processes for private market assets.
Background
The FCA sees good valuation practices as key to maintaining fairness and confidence as the private market grows. There is also global interest in valuation practices in private
In this article we look at key regulatory topics for 2025 that will have a significant impact on institutions operating in the UK financial services space. We have not attempted to list every single reform expected this year but rather pick out the top reforms in both the wholesale and retail space, as well as