On November 28, 2024, the Hong Kong Monetary Authority (HKMA) published the guideline on Digital Bond Grant Scheme (DBGS). As acknowledged in the 2024 Policy address, the DBGS is part of the Hong Kong Government and HKMA’s...more
The Bank of England and Financial Conduct Authority have published a joint policy statement providing feedback to responses received to the Digital Securities Sandbox joint consultation (CP24/5). We discussed the proposals in...more
On 30 September 2024, the Bank of England (the “Bank”) and the Financial Conduct Authority (the “FCA”) announced that the Digital Securities Sandbox (the “DSS”) is now open for applications. The Bank and the FCA have also...more
Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about....more
On 3 April 2024, the Bank of England (BoE) and the Financial Conduct Authority (FCA) issued a consultation paper setting out the proposed approach to operating the Digital Securities Sandbox (DSS). The DSS is designed to...more
Legislation implementing the U.K.'s first digital sandbox – the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 – came into force on January 8, 2024. The DSS Regulations enable the...more
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...more
On 8 January 2024, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 enter into force, creating the Digital Securities Sandbox within which certain Financial Market Infrastructures will...more
Following its consultation earlier this year, HM Treasury has published a response to its consultation on the Digital Securities Sandbox, confirming that it will mostly adopt the approach consulted on to establish the DSS....more
HM Treasury has published a response to its consultation on managing the failure of systemic digital settlement asset firms. DSAs are defined broadly under the Financial Services and Markets Act 2023 as digital assets that...more
HM Treasury has published a consultation on the establishment of a financial market infrastructure sandbox, known as the Digital Securities Sandbox. The sandbox will be established using new powers granted by the...more
New Legislative Measures to Strengthen UK Corporate Reporting - On 19 July 2023, the draft Companies (Strategic Report and Directors’ Report) (Amendment) Regulations were laid in Parliament....more
Following its consultation in 2022, on February 9, 2023 the U.K. Jurisdiction Taskforce published a Legal Statement on the issuance and transfer of digital securities under English private law....more
Digital bonds, including those issued on a public blockchain, can be accommodated by English law, according to the UK Jurisdictional Taskforce in its brand-new legal statement. The position is slightly more challenging for...more
Interest in engaging in a crypto business seems to be at an all-time high, including doing so in or through regulated and compliant businesses in traditional financial services firms. Brokers-dealers sit atop that list....more
A Bloomberg article last week suggests potentially more bad news is on the way for Coinbase Global Inc. (“Coinbase”). Coinbase is reportedly facing an investigation by the U.S. Securities and Exchange Commission (“SEC”) into...more
What is a Digital Security Offering (DSO)? Conducting digital security offerings (DSOs), or security token offerings (STOs) is time-consuming and can be quite complicated. You will need to consider factors such as whether...more
The region’s burgeoning digital economy is drawing attention from investors across the globe - The value of deals taking place in Southeast Asia reached a new high in the first half of 2021. Deals worth US$101.6 billion...more
On 6 May 2021, the German Bundestag adopted the Electronic Securities Act (eWpG) in the form proposed by the Finance Committee. ...more
Introduction: There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states. For these proprietors, often the first...more
In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more
Christmas came early for many in the digital asset community by way of a statement from the U.S. Securities and Exchange Commission (“SEC” or “Commission”) on December 23, 2020 that grants relief in the area of broker...more
U.S. Developments - Members of Congress Request SEC Clarity On Digital Securities Custody - On December 9, a bipartisan group of representatives penned a letter to SEC Chairman Jay Clayton regarding the issue of...more
The law will make German financial markets more competitive, allowing issuers and investors to benefit from efficiencies and lower transaction costs. A new German law introducing electronic securities is expected to take...more
Blockchain Solutions Announced in Auto, Shipping, Medical and Aid Sectors - A prominent German automotive manufacturer announced this week that it has begun testing the use of blockchain technology for the company to monetize...more