Cryptoasset Regulation: UK government publishes policy papers on future regulation of cryptoassets and fiat-backed stablecoins

On 30 October 2023, the government published three policy documents on cryptoassets regulation in the UK, covering fiat-backed stablecoins, the wider cryptoasset regulatory regime and the failure of systemic digital settlement asset (DSA) firms. On the whole, the updates confirm the approaches previously proposed. However, much of the detail will only emerge in the next phase once secondary legislation and regulators' rules have been published. Read more

Herbert Smith Freehills publishes Global Bank Review 2023: Trust Matters

Perhaps the most striking thing about the world of finance a decade and a half since the banking crisis is that the industry has not quite managed to regain the allure and self-confidence of earlier times. Certainly, this is a time in which trust – that most precious commodity in banking – is hard to earn and retain. This year's Global Bank Review: Trust Matters explores trust on many fronts. Read more

Mansion House 2023 & Edinburgh Reforms 2022: Progress Tracker

On 10 July 2023, the Chancellor gave his Mansion House speech where he presented a series of ‘Mansion House reforms’. Building on last year’s Edinburgh Reforms, the proposals fall under three themes: improving outcomes for long-term savers and increasing investment in high-growth companies by reforming the UK’s pension market through a series of measures (see … Read more

The Edinburgh Reforms – Half-Year Review

Tracking the progress of the Edinburgh Reforms In December 2022, the Chancellor of the Exchequer announced a series of financial services proposals which became known as the Edinburgh Reforms. Together with the Financial Services and Markets Act 2023 (Act), which received royal assent on 29 June 2023 (see our overview of the Act here), the … Read more