FCA: Final Notice: Mako Financial Markets Partnership LLP
FCA has fined the firm £1,662,700 for failing to ensure it had effective systems and controls to guard against financial crime. The firm executed purported OTC equity trades on behalf of clients of the Solo Group, worth approximately £68.6bn in Danish equities and £23.6bn in Belgian equities, receiving commission of approximately £1.45m. The firm also failed to identify red flags in other instances related to the Solo Group business. FCA notes that this eighth enforcement case concludes its investigations into cum-ex trading.
Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See all Regulatory News - Financial Services & RegulationThe Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026 (Draft)
These Regulations amend and add to the regulatory regime for certain cryptoasset activities, including amends to the RAO and FPO. It narrows the scope of certain cryptoasset regulated activities by excluding dealings and arrangements involving UK-issued qualifying stablecoins that are authorised under FSMA and excludes the temporary holding of UK-issued qualifying stablecoins for payment transactions from the cryptoasset safeguarding regime. The SI also clarifies the regulatory perimeter for issuing qualifying stablecoins in the UK, excludes backing asset arrangements from certain safeguarding requirements, and introduces targeted exemptions for proprietary trading, market making, technical services and central securities depository activities.
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FCA: PS26/18: Cryptoasset perimeter guidance
Further to CP26/13, this PS provides guidance on when cryptoasset activities need FCA authorisation. With regard to the draft Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026, FCA states that it will consult in October 2026 on targeted updates to this guidance relating to UK qualifying stablecoins, proprietary trading and market making, certain technology providers, decentralised protocols, safeguarding arrangements involving central securities depositaries and financial promotions.
Financial Services and Markets Bill
The first reading of the Bill in HoC has taken place with no debate on the Bill at this stage. The second reading debate will take place at a date yet to be confirmed. The Bill as brought by HoL has been published.
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The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026/1010
The SI extends by a further 12 months the transitional regime for overseas qualifying CCPs contained within Article 497 of the UK CRR.
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BoE: Speech by Carolyn Wilkins: Money and power – lessons from history for stablecoins and US dollar dominance
Text of Carolyn Wilkins’ speech of 15 September 2026 follows in which she discusses whether private digital money can operate safely at scale and what could happen if US dollar stablecoins become widely used.