On 30 April 2026, the Financial Conduct Authority (FCA) announced that, from 11 May 2026, cryptoasset firms preparing for the new regulatory regime will be able to request a pre-application meeting with the FCA through its Pre-Application Support Service (PASS). The FCA also published a new webpage setting out what firms need
Digital Finance, DLT and Fintech
FCA Policy Statement 26/7: Progressing Fund Tokenisation
On 30 April 2026, the Financial Conduct Authority (FCA) published Policy Statement 26/7: Progressing Fund Tokenisation (PS26/7).
Background
The FCA committed to progressing a roadmap for digital assets starting in asset management in its January 2025 letter to the Prime Minister, and its Strategy 2025-2030.
As a result, in Consultation…
ESMA statement on the end of transitional periods under MiCA
On 17 April 2026, the European Securities and Markets Authority (ESMA) issued a statement to clarify supervisory expectations regarding the end of the transitional period(s) under the Markets in Crypto-Assets Regulation (MiCA).
The MiCA transitional period will officially expire across the EU on 1 July 2026. After this date, any entity…
FCA publishes Cyber Co-Ordination Group insights
On 24 April 2026, the Financial Conduct Authority (FCA) published a summary of discussions held throughout 2025 with industry members of its Cyber Coordination Group (CCG) programme.
Background
The FCA set out that its CCG programme brings together up to 140 firms and that members of this group have contributed their…
HMT issues policy note and draft SI on amendments to the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026
On 21 April 2026, HM Treasury (HMT) issued a policy note and draft statutory instrument on amendments to the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (the Crypto Regulation).
Policy note and draft SI
Earlier this year the government passed the Crypto Regulation. The draft statutory instrument (draft…
FCA publishes findings in relation to market soundings in UK equity capital markets
On 20 April 2026, the Financial Conduct Authority (FCA) published its findings following its analysis of the impact of market soundings on market quality in equity capital market (ECM) transactions in UK listed shares.
Background
The FCA explained that market soundings help determine interest in a transaction before it is announced…
AFM update on information disclosure requirements for CASPs under MiCAR
On 16 April 2026, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) issued a press release including a supervision report assessing how well crypto-asset service providers (CASPs) comply with information disclosure requirements under the Markets in Crypto-Assets Regulation (MiCAR). The AFM finds that many…
FCA publishes Open Finance Roadmap
On 14 April 2026, the Financial Conduct Authority (FCA) published a roadmap in relation to open finance, intended to set out its vision for a smart data future.
Background
The FCA explained that it considers banking and financial services occupy a central place in the Government’s Smart Data Strategy and that open finance…
FOS responds to the Mills Review
- From early small sample analysis, the FOS estimates that AI is likely to have
US banking agencies issue guidance on capital treatment of tokenized securities
On March 5, 2026, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, published guidance (Tokenized Securities Capital Guidance or Guidance), in the form of responses to frequently asked questions, addressing the regulatory capital treatment of tokenized securities under capital regulations…