UK cryptoasset regulation

UK cryptoasset regulation

On 1 February 2023, HM Treasury (“HMT”) published a consultation[1] setting out proposals for the UK’s financial services regime for cryptoassets. The UK government has highlighted its ambition to make Britain a global hub for cryptoasset technology. Rishi Sunak previously asserted that “effective regulation” would encourage “the businesses of tomorrow to invest, innovate and scale […]

The FCA’s largest fine of 2022 – a lesson in regulatory change management

The FCA fined Citigroup Global Markets Limited (“CGML”) £12.6m for failing to properly implement the Market Abuse Regulation (“MAR”). Regulatory change is coming thick and fast for financial services firms, making effective change management controls more important than ever.  Below we look at some of the underlying failures in this case, in the hope that […]