FSM Bill completes Commons committee stage

The FSM Bill has completed the committee stage in the House of Commons and Parliament has published a revised version of the Bill. Of the amendments tabled in the committee stage, the following have been added to the Bill:

  • the PSR Chair to be a member of the FCA Board; and
  • amending FSMA to clarify that the powers relating to fin proms and regulated activities can be relied on to regulate crypto. Cryptoasset is also defined, with a power to amend the definition.

The Bill will now enter its report stage where it can be debated further. The date for the report stage has not yet been scheduled.

Emma Radmore