On 14 January 2025, the Bank of England (BoE) published a progress update and a design note on the blueprint framework for a digital pound.
Background
The BoE and HM Treasury are exploring the possibility of introducing a digital pound, as a digital complement to banknotes. If introduced, the digital pound would be
On 9 January 2025, the Financial Conduct Authority (FCA) published the latest in its series of research notes on bias in artificial intelligence (AI).
The FCA has been carrying out research in the area of AI bias to help deepen its understanding of AI and its potential impact on financial services
On 13 December 2024, the Bank of England published a web page concerning the latest annual CBEST thematic which is intended to inform the financial sector on the findings and lessons learned from the CBEST programme, which assesses the cyber resilience of key financial institutions through security testing performed in ‘live’ corporate environments.
CBEST is
On 18 December 2024, there was published on legislation.gov.uk a draft of The Digital Markets, Competition and Consumers Act 2024 (Consequential Amendments) Regulations 2025.
The draft Regulations make amendments to primary and secondary legislation in consequence of the coming into force of Parts 3, 4 and Chapter 2 of Part 5 of the Digital
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
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 12 December 2024, the Prudential Regulation Authority (PRA) published a data request relating to firms’ exposures to tokenised assets, stablecoins and other cryptoassets.
Through the data request, the PRA is seeking to gather information on firms’ current and expected future cryptoasset exposures and firms’ application of the Basel framework for the prudential
On 12 December 2024, the Bank for International Settlement’s Financial Stability Institute published a paper which explores the potential transformative impact of artificial intelligence (AI) on the financial sector. In summary, the paper notes that while AI exacerbates existing risks such as model risk and data privacy, it does not introduce fundamentally new
On 11 December 2024, the FCA issued the first in a series of research notes on bias in artificial intelligence (AI).
The note provides a review of available academic and ‘grey’ literature to explore how biases may arise and may be mitigated in supervised machine learning models used to make predictions or assist
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