On 8 January 2024, the Financial Services and Markets Act (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. Read our summary of the regulations here. #FinancialServices #Securities #CapitalMarkets #Digital #Regulation
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On 8 January 2024, the Financial Services and Markets Act (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. Read our summary of the regulations here. #FinancialServices #Securities #CapitalMarkets #Digital #Regulation
UK: Digital Securities Sandbox now in force
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
engage.hoganlovells.com
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On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 entered into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will be able to test the use of developing technologies subject to a modified legislative framework. The government has also published an Explanatory Memorandum which sets out the background and purpose of the Regulations. #Securities #FinancialMarkets
UK: Digital Securities Sandbox now in force
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Delivering Growth Strategies for Founders, Owners and Boards Senior Financial Services Leader I Founder I NED I
UK regulators seek contributions on draft guidelines for organisations aiming to join the new Digital Securities Sandbox (DSS). 📝 But what does this mean for the financial market?🤔 This creative platform is set to revolutionise UK regulations by enabling the adoption of cutting-edge technologies such as distributed ledger for trading and settlement of digital securities like shares and bonds. In terms of the financial market, I believe this signifies a further leap forward in integrating technology into finance, potentially increasing transaction speeds and reducing costs.💵 The initiative has already attracted considerable interest, with 19 applications from current financial infrastructures, banks, and newcomers ready to test this sandbox, which is set to run for five years. This early enthusiasm could herald a wave of innovation and fresh competition in the financial sector. 📌The Bank of England and the FCA have issued detailed draft guidance on how participants can scale their activities post-authorisation. This suggests a scalable approach to regulatory adaptation, allowing firms to grow their services within a secure and monitored environment. Sheldon Mills of the FCA notes that the sandbox will reshape regulatory practices by facilitating real-world testing of regulatory changes. 🗣️ This approach promises a quicker, more collaborative method of regulatory change, potentially leading to more dynamic market responses and enhanced consumer protection. This forward-thinking strategy could set a benchmark for other sectors and regions aiming to harmonise technology advancements with regulatory frameworks! I am excited to see what happens next!😀 #regulation #finance #businessintelligence #future
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The UK Digital Securities Sandbox is set to launch soon. In a recent consultation paper, the Bank of England and FCA reveal some key details on how they plan to operate it, and provide one more opportunity for feedback. In our latest blogpost, we sum up ten key takeaways from the hundreds of pages published by the regulators. Read more below.
UK regulators outline how they plan to operate the Digital Securities Sandbox | Linklaters
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