Global Trustee and Fiduciary Services Bite Sized Issue 12 2024

19 QUICK LINKS COSTS & CHARGES CSDR CRYPTOASSETS EMIR FINTECH FSB FUND LIQUIDITY MIFID II/MIFIR NBFI OPERATIONAL RESILIENCE SUSTAINABLEFINANCE/ESG T+1 ASIA NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 12 | 2024 • Publish a National Payments Vision, which sets out the government’s ambitions for the UK’s payments sector, to deliver world-leading payments and support the growth mission. • Announcing that the UK government will launch a pilot to deliver a Digital Gilt Instrument (DIGIT). • Publish its response to the consultation on the Private Intermittent Securities and Capital Exchange System (PISCES), a new bespoke market for private company shares, with the intention to lay legislation establishing the PISCES regime by May 2025. • Announcing the next steps in the reform of UK wholesale markets regulation to support UK competitiveness and market integrity. Link to the HMT Masion House 2024 Collection here Link to FCA Statement here CP24/21: Investment Research Payment Optionality for Fund Managers On 5 November 2024, the FCA published consultation paper CP24/21, seeking feedback on proposals to improve the investment research market, including allowing additional options for paying for investment research. The proposals take forward the recommendations of the Investment Research Review (IRR) and feedback to the consultation paper on payment optionality for investment research (CP24/7). The FCA proposes to extend the new payment optionality to pooled funds. This should make it operationally more efficient for asset managers of different business models and sizes to take up the new payment option to pay for investment research. The proposals will apply to: • UCITS management companies; • Full scope UK Alternative Investment Fund Managers (AIFMs); • Small authorised UK AIFMs and residual collective investment scheme operators; and • Investment platform providers. The consultation period closes on 16 December 2024. The FCA aims to respond to the consultation feedback in the first half of 2025. Link to CP24/21 here