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  • UK Government: Future Financial Services Regulatory Regime For Cryptoassets

    Date 30/10/2023

    Detail of outcome

    The government has confirmed its final proposals for cryptoasset regulation in the UK, including its intention to bring a number of cryptoasset activities into the regulatory perimeter for financial services for the first time. This document provides the government’s response to the consultation and call for evidence on the future financial services regulatory regime for cryptoassets, which was published on 1 February 2023 and closed on 30 April 2023. It summarises the feedback received by HM Treasury in response to the consultation, and details how this has influenced further development of the government’s approach.

  • FX Prime Brokerage Consolidation Fuels Concern Among Hedge Funds: Acuiti

    Date 30/10/2023

    Consolidation among sell-side providers of FX prime brokerage (FX PB) is causing increasing concern among hedge funds as they face the risk of reduced access to liquidity and operational disruption from moving to a new provider, a new report by Acuiti has found.

  • UK Government: Managing The Failure Of Systemic Digital Settlement Asset (Including Stablecoin) Firms

    Date 30/10/2023

    Detail of outcome

    The government consulted on its approach to managing the failure of a systemic digital settlement asset (including stablecoin) firms by applying a modified Financial Market Infrastructure Special Administration Regime (FMI SAR) to such firms. Overall, respondents were broadly supportive of the proposed approach.

  • Securities Commission Malaysia’s Shariah Mentorship Programme Aims To Increase Pool Of Shariah Professionals In Islamic Capital Market

    Date 30/10/2023

    The Securities Commission Malaysia (SC) today launched the Shariah Mentorship Programme, a targeted, first-of-its-kind mentorship initiative aimed at building a sustainable talent pipeline of Shariah professionals in the Islamic capital market (ICM). 

  • UK Government: Update On Plans For The Regulation Of Fiat-Backed Stablecoin

    Date 30/10/2023

    The government has provided an update on its legislative approach for bringing fiat-backed stablecoins into the UK’s regulatory perimeter for financial services. This document provides additional detail following the UK regulatory approach to cryptoassets, stablecoins, and distributed ledger technology in financial markets consultation response published in April 2022. This update will inform development of the Financial Conduct Authority and Bank of England’s approaches for regulating stablecoin issuers and custodians, and systemic digital settlement asset payments systems and service providers respectively.