On 24 March 2025, the European Commission adopted a draft Delegated Regulation supplementing the Regulation on digital operational resilience for the financial sector (DORA) with regard to regulatory technical standards specifying the elements that a financial entity has to determine and assess when subcontracting ICT services supporting critical or important functions.
The draft
On 24 March 2025, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2025/420 of 16 December 2024 supplementing the Regulation on digital operational resilience for the financial sector (DORA) with regard to regulatory technical standards to specify the criteria for determining the composition of the joint
Increased regulatory burdens on asset management businesses have resulted in additional cost pressures. However, regulation has also required more pricing transparency, which has led to an increasingly competitive market, with investors demanding either ultra-low cost or increasingly bespoke investment solutions.
For our thoughts on this, please see our new briefing here.
On 18 March 2025, the Chancellor of the Exchequer, Rachel Reeves, met with a group of fintech CEOs and confirmed the next steps to test distributed ledger technology (DLT) in the UK gilt market. As part of those next steps, Ms Reeves announced details of the launch of the procurement process for the
On 18 March 2025, the European Securities and Markets Authority published the official translations of the joint European Supervisory Authority (ESA) guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents under the Regulation on digital operational resilience for the financial sector (DORA).
The joint guidelines
President Trump signed an Executive Order to establish a strategic Bitcoin reserve and US digital asset stockpile.
The full update can be found here on our US Regulatory Intelligence platform.
On 12 March 2025, the International Organisation of Securities Commissions (IOSCO) issued a consultation report on neo-brokers.
Neo-brokers are a subset of brokers, characterized by providing online-only investment services and by the absence of physical operating branches, thereby using technology to facilitate those services and access to financial markets. Neo-brokers have very limited
On 12 March 2025, the International Organisation of Securities Commissions (IOSCO) issued a new consultation report on artificial intelligence (AI) in capital markets.
The purpose of the consultation report is to create a shared understanding among IOSCO members of the issues, risks and challenges that emerging AI technologies used in financial
On 10 March 2025, the Financial Conduct Authority (FCA) published a letter on supporting artificial intelligence (AI), innovation and growth in financial services, which was written jointly by the FCA and the Information Commissioner’s Office (ICO) and addressed to Trade Association chairs and CEOs.
Background
In the letter, the FCA
On 4 March 2025, the Digital Markets, Competition and Consumers Act 2024 (Commencement No. 2) Regulations 2025 were published on legislation.gov.uk.
These Regulations bring into force certain provisions of the Digital Markets, Competition and Consumers Act 2024 (Act) on 6 April 2025 and bring further provisions, relating to consumer savings, into force on