In February 2023, the UK's FCA published a discussion paper (DP23/2) on updating and improving the UK regime for asset management. The discussion paper forms part of the UK's current work of reviewing and assimilating EU-derived financial services regulation into UK law and the UK regulators' rulebooks. It seeks views on a vast spectrum of issues, from the structure of UK asset management regulation to fund tokenisation. Responses to the discussion paper will shape the future regulation of the UK's asset management sector.
This briefing summarises key aspects of the discussion paper and the UK's next steps.