Funds and Asset Management Policy Technical Specialist
About the job
- Prior experience with deep knowledge of funds and asset management regulation, particularly alternative investment funds and their managers.
- Prior experience with an in-depth understanding of how regulatory requirements operate across different business models, asset classes and fund structures.
- Prior experience of developing, reviewing or implementing complex financial services policy or regulation.
- Ability to lead complex workstreams, balance competing priorities and deliver high-quality outcomes to tight deadlines.
- Stakeholder management and communication skills, including the ability to build credibility and engage effectively with senior internal and external stakeholders.
- Experience of regulatory reform, public consultation or legislative change.
- Knowledge of international funds standards and major overseas regulatory regimes.
- Experience working with regulatory data, impact assessment or cost-benefit analysis.
- A relevant professional, legal, economic or postgraduate qualification.
- Lead high-profile policy initiatives across the UK asset management and funds sector, shaping regulation that delivers better outcomes for consumers, firms and markets.
- Translate complex regulatory, legal, economic and market developments into clear, practical policy solutions that guide decision-making across financial services.
- Develop evidence-based policy proposals and recommendations that drive regulatory change and enhance market outcomes.
- Assess the impact, benefits and risks of policy interventions, ensuring decisions remain focused on positive outcomes for consumers and the wider market.
- Stay at the forefront of market innovation, emerging business models and global regulatory developments, helping shape the FCA’s response to a changing financial landscape.
- Build relationships across industry, government, consumer groups and regulatory partners, bringing diverse perspectives into policy development.
- Collaborate across the FCA and represent the organisation externally, influencing key discussions and supporting effective policy implementation.
- Support and develop colleagues while enhancing policy and regulatory expertise in a visible role with broad responsibility across UK financial services.
Job Title: Funds and Asset Management Policy Technical Specialist
Division: Supervision, Policy & Competition (SPC)
Department: Market Interventions (MI), Asset Management and Funds
- Salary: National (Edinburgh and Leeds) ranging from £74,900 to £100,000 and London £82,300 to £110,000 (salary offered will be based on skills and experience)
- This role is graded as: Technical Specialist – Regulatory
- Your external recruitment contact is Steve Christopher via [email protected].
- Your internal recruitment contact is Katherine Whipps via [email protected].
- This position is for 2 x Headcount
- Applications must be submitted through our online portal. Applications sent via social media or email will not be accepted.
About the FCA and team
We regulate financial services firms in the UK, to keep financial markets fair, thriving and effective. By joining us, you’ll play a key part in protecting consumers, driving economic growth and shaping the future of financial services in the UK.
SPC oversees firms and individuals (supervision), creates and reviews the rules by which they operate (policy) and identifies and remedies ineffective competition in markets (competition). Sitting within the Buy-Side Directorate, the Market Interventions, Asset Management and Funds Department supervises asset management firms, using data-driven oversight and close collaboration across the FCA and industry to address key harms and deliver positive outcomes for consumers and markets.
Join a team at the heart of shaping policy for the UK investment funds and wider asset management sector. Combining policy knowledge, market insight and stakeholder engagement, the team develops proportionate, evidence-based regulation that supports effective markets, protects investors and enhances the competitiveness of the UK funds sector.
As a Technical Specialist, you will provide technical and policy leadership on the regulatory framework for alternative investment fund managers, asset management firms and authorised funds. You will oversee detailed policy analysis, develop data-informed proposals, support senior decision-makers, and work with policy, legal, supervisory, economic, and international teams to deliver impactful regulatory change. This is a unique opportunity to help develop policy that impacts millions of consumers, supports market integrity and shapes the future of UK financial services.
Role responsibilities
- Lead high-profile policy initiatives across the UK asset management and funds sector, shaping regulation that delivers better outcomes for consumers, firms and markets
- Translate complex regulatory, legal, economic and market developments into clear, practical policy solutions that guide decision-making across financial services
- Develop evidence-based policy proposals and recommendations that drive regulatory change and enhance market outcomes
- Assess the impact, benefits and risks of policy interventions, ensuring decisions remain focused on positive outcomes for consumers and the wider market
- Stay at the forefront of market innovation, emerging business models and global regulatory developments, helping shape the FCA’s response to a changing financial landscape
- Build good relationships across industry, government, consumer groups and regulatory partners, bringing diverse perspectives into policy development
- Collaborate across the FCA and represent the organisation externally, influencing key discussions and supporting effective policy implementation
- Support and develop colleagues while enhancing your own leadership, policy and regulatory expertise in a visible role with broad responsibility across UK financial services
Skills required
Minimum:
- Prior experience with deep knowledge of funds and asset management regulation, with particular expertise in alternative investment funds and their managers
- Prior experience with an in-depth understanding of how regulatory requirements operate across different business models, asset classes and fund structures
- Prior experience of developing, reviewing or implementing complex financial services policy or regulation
Essential:
- Demonstrated ability to lead complex workstreams, balance competing priorities and deliver high-quality outcomes to tight deadlines
- Effective stakeholder management and communication skills, with the ability to build credibility and engage effectively with senior internal and external stakeholders
- Experience of regulatory reform, public consultation or legislative change
- Knowledge of international funds standards and major overseas regulatory regimes
- Experience working with regulatory data, impact assessment or cost-benefit analysis
- A relevant professional, legal, economic or postgraduate qualification
Benefits
- 28 days annual leave plus bank holidays
- Colleagues spend a minimum of 50% of their working time in the office each month (60% for Directors and Executive Directors) across our London, Leeds and Edinburgh offices.
- Non-contributory pension (8–12% depending on age) and life assurance at eight times your salary
- Private healthcare with Bupa, income protection and 24/7 Employee Assistance
- 35 hours of paid volunteering annually
- A flexible benefits scheme designed around your lifestyle
For a full list of our benefits and our recruitment process as a whole visit our benefits page.
Our values and culture
Our colleagues are the key to our success as a regulator. We are committed to fostering a diverse and inclusive culture: one that’s free from discrimination and bias, celebrates difference and supports colleagues to deliver at their best. We believe that our differences and similarities enable us to be a better organisation – one that makes better decisions, drives innovation and delivers better regulation.
If you require any adjustments due to a disability or condition, your recruiter is here to help - reach out for tailored support.
We welcome diverse working styles and aim to find flexible solutions that suit both the role and individual needs, including options like part-time and job sharing where applicable.
Disability confident: our hiring approach
We’re proud to be a Disability Confident Employer and therefore, people or individuals with disabilities and long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. In cases of high application volumes we may progress applicants whose experience most closely matches the role’s key requirements.
Useful information and timelines
Timeline:
- Job advert close: 4th November 2026 at Midnight
- CV Review/Shortlist: 5th & 6th November 2026
- Interviews: 11th-20th November 2026
- Your Recruiter will discuss the process in detail with you during screening for the role, therefore, please make them aware if you are going to be unavailable for any date during this time
- Please note, this recruitment is for 2 x Permanent Positions
About the company
The Financial Conduct Authority (FCA) oversees the conduct of about 60,000 financial businesses to ensure financial markets work well and that consumers get a fair deal. It does this by setting rules, supervising firms, and enforcing standards to protect consumers, maintain the integrity of the UK financial system, and promote effective competition in the interests of consumers. It is independent and funded by the firms it regulates, with accountability to the Treasury and Parliament. Its goal is a competitive, trustworthy financial market where consumers have access to products that meet their needs and from firms they can trust.
Company Size
5,001-10,000
Company Stage
N/A
Total Funding
N/A
Headquarters
London, United Kingdom
Founded
2013
Get referred to Financial Conduct Authority
See people who can refer or advise you
Simplify's Take
What believers are saying
- October 2026 board appointments add policy, banking, and regulatory depth at the top.
- India and UAE attachés expand FCA market access and cross-border coordination.
- April 2026 finfluencer action delivered 120 takedown requests and 34 warning alerts.
What critics are saying
- FCA identified 1,267 illegal adverts in April 2026, exposing enforcement scalability gaps.
- Platforms still ignore takedown requests, weakening FCA control over social-media financial promotions.
- A sustained online-fraud wave can crush consumer trust and nullify the FCA's relevance.
What makes Financial Conduct Authority unique
- The FCA is the UK's statutory conduct regulator for nearly 60,000 firms.
- It funds itself through regulated-firm levies, not taxpayer appropriations.
- It can warn, ban, prosecute, and coordinate with 17 regulators internationally.
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Benefits
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
- Health Savings Account/Flexible Spending Account
- Unlimited Paid Time Off
- Flexible Work Hours
- Remote Work Options
- Paid Vacation
- Paid Sick Leave
- Paid Holidays
Company News
Hundreds rush for AI jobs at 'data led' UK financial regulator. Tuesday, 20 Oct 2026 | 11:00 AM MYT "Hundreds" of applicants have thrown their hats in the ring for senior AI jobs at the UK's top financial regulator, according to the new hires' future boss, despite the fact that AI companies can pay higher compensation. Jessica Rusu, the Financial Conduct Authority (FCA)'s chief data information and artificial intelligence (AI) officer, said candidates valued the opportunity to solve "fascinating and interesting problems" at the FCA. "We have two senior leadership roles in the market now and we have had hundreds of really high quality applications," the executive, who spent more than 20 years in the private sector before joining the FCA in 2021, said in an interview. The FCA has been advertising for a head of agentic AI and data science research, who will join the organisation's senior leadership team for a salary of between £140,000 and £190,000 (US$186,000 or RM759,233 and US$253,000 or RM1.03mil) in London, or £126,000 (RM684,841) to £171,000 (RM929,427) if they work from the watchdog's Leeds or Edinburgh offices. Powered by: The regulator is also hiring a head of department, AI and technology security operations within the same salary range. Both roles recently closed for applications. It's part of the FCA's goal to become a global leader in AI regulation, both through its own use of the technology and its oversight of usage across the 35,500 firms it supervises. Rusu told a Bloomberg event in London on Oct 19 that the FCA was building AI tools to help oversee anti-money laundering controls at 60,000 extra firms, as part of a new duty that comes into effect from 2028. It's also using automatic and agentic AI agents to help supervise around 9,000 small wholesale market transaction-reporting firms. The FCA is monitoring the financial services industry's use of AI and encouraging good practices. At the event, Rusu called for firms "to help consumers understand the limits of financial information and advice generated by their models through clear, proportionate and consistent disclaimers." The regulator is also working with firms on cyber defences and the potential risks from AI, as highlighted by the security concerns around Anthropic's new Mythos model earlier this year. "AI is moving faster than any regulatory framework was designed," Rusu said. "That means regulators will increasingly need to make judgments without precedent, while ensuring that trust remains at the heart of financial services." If the FCA had unlimited resources, Rusu said, "we would go after more and more financial crime." The regulator is seeing a rise in AI-enabled fraud, such as deepfake videos encouraging fake investment opportunities, she added. "It really undermines growth." - Bloomberg
FCA: 'Our focus is testing, assurance and monitoring' The UK's Financial Conduct Authority has warned that financial firms are deploying automated customer journeys without sufficient testing, as the regulator called for continuous assurance of increasingly autonomous AI systems and stronger preparations for operational failure. Speaking at Bloomberg's UK Policy Series on October 19, Jessica Rusu, the FCA's chief data, information and intelligence officer, said firms must look beyond whether AI is safe at launch and assess how its behaviour changes in production. "A system that is safe at deployment may behave differently at scale, under stress or as the models beneath it change," Rusu said. "Agentic systems therefore require continuous, conditional assurance. Our focus is testing, assurance, monitoring and surveillance," she declared. The warning puts ongoing testing, monitoring and digital resilience at the centre of the regulator's approach to agentic finance, where systems can increasingly initiate transactions and act on behalf of customers. It also comes alongside the publication of examples of good and poor AI practice, drawn from the FCA's observations of firm testing this year. Rusu identified consumer outcomes, accountability and operational resilience as the three central areas of focus. For QA and quality engineering teams, the implications extend across the lifecycle of an AI service. Initial validation provides only part of the evidence needed to assess systems whose underlying models, operating conditions and interactions can change after release. Rusu said the FCA had already observed weaknesses in how firms develop and deploy AI, including applications without a clearly defined customer need, exaggerated claims about capabilities and automated customer journeys introduced without sufficient testing. The regulator has also seen firms exclude vulnerable consumers by default, raising questions about whether testing adequately covers the people who will use a service and the circumstances in which they may need additional support. "Our focus is testing... directly with the industry to understand how AI systems are being deployed." - Jessica Rusu Examples of stronger practice included a firm developing a live list of vulnerability signals that its chatbot could use to identify customers needing referral to human advisers. Another established an independent ethics panel to scrutinise proposed AI applications before deployment, including questions of ownership, bias and controls. However, Rusu warned that governance investment was failing to keep pace with deployment. "But we have also seen firms retrofit governance after technology has already been deployed or fail to adapt monitoring as systems change," she said. "That is the wrong way around." She called for clear accountability, controls proportionate to risk, human oversight and escalation triggers, with senior managers personally accountable for AI systems. For testing teams, those observations point to a wider assurance challenge: establishing whether the controls surrounding an application remain effective as the application itself evolves. Monitoring that was appropriate at launch may become inadequate following changes to a model, its use or the decisions it supports. Rusu's most direct message on digital resilience concerned preparations for disruption. "Third: stress-test AI systems. Plan for failure. Maintain fallback options. Understand supplier concentrations and dependencies, including reliance on a single model," she said. "A system that fails at scale disrupts the services consumers rely on." Broader strategy. That warning connects AI assurance with the FCA's broader scrutiny of shared technology infrastructure. A service may depend on an external model, cloud platform or data provider, making the resilience of those dependencies relevant to its overall reliability. For QA teams, this points towards scenarios that examine how a complete service behaves when a supplier becomes unavailable or an underlying component behaves unexpectedly. Fallback arrangements and escalation processes need to work under the same conditions that disrupt the primary service. The emphasis builds on the regulator's earlier calls for practical evidence of AI controls. In May, the FCA reopened its AI Input Zone to gather examples covering governance, resilience, deployment, oversight and assurance. Colin Payne, the regulator's head of innovation, summarised that exercise in a short instruction: "Not theory. Evidence." The latest observations give that evidence-gathering exercise a more concrete operational focus, identifying shortcomings in testing and governance while setting out the practices the FCA wants firms to adopt. They also reinforce the connection between AI assurance and third-party resilience highlighted in QA Financial's earlier coverage. In July, FCA director Mark Francis stressed that operational resilience needed to address disruption across commonly used service providers, as well as risks within individual firms. "Operational resilience can't solely be about understanding risks within individual firms," Francis said. "It is also about understanding how disruption at commonly used critical service providers could affect the wider system." Rusu's warning about reliance on a single model brings that concentration concern directly into AI deployment. The stakes are increasing as AI moves from supporting decisions to executing them. Rusu described agents that can search across products, manage payments and investments, and transact with other agents, creating another layer of technology between institutions and customers. "Poorly governed AI can create consumer harm, cyber vulnerabilities and operational failures, potentially at much greater speed and scale," she warned. Rusu also linked AI failures to regulatory incident visibility. "Our rules already require firms to report major incidents, and that must extend to significant AI failures and near-misses." That makes the ability to identify and escalate unexpected AI behaviour an important part of assurance. For testing teams, the practical question is whether monitoring and incident processes can recognise a significant failure or near-miss quickly enough for the firm to respond. The FCA plans to work with industry, other regulators and frontier AI laboratories on a framework for agentic finance, including approaches to agent identity, delegated authority, accountability and execution. Rusu said its response to the Mills Review, published in July, would involve direct engagement with firms on deployment. "Our focus is testing, assurance, monitoring and surveillance: directly with industry to understand how AI systems are being deployed." The regulator is also developing its own use of AI agents and machine-readable data collection APIs, a shift that could put banks' underlying data capabilities under greater scrutiny. Steve Round, president and co-founder of SaaScada, said: "An agentic FCA that can pull data straight from firms through APIs, and gather evidence from every source it can reach, is a warning to every bank still running on legacy systems. Inconsistencies that once went unnoticed will now surface in hours." "Banks have to be able to show how every decision was made, whether a person or an AI agent made it, and that evidence comes from the data," he added. "If the core system can't give a real-time, complete record of what happened and why, banks should expect the FCA to intervene, and at scale," Round concluded. For banks and insurers, the speech sharpens the case for treating AI assurance as an ongoing operational responsibility. The test is whether systems remain controlled as autonomy increases, dependencies change and real-world conditions put their safeguards under pressure. See you next month? October 20, 2026 October 19, 2026 October 16, 2026 October 15, 2026 October 14, 2026 October 13, 2026 October 12, 2026
FCA goes "agentic" with automated supervision and no new AI rules. * The FCA plans to automate much of its supervision and enforcement with AI, becoming an "agentic regulator." * The FCA is declining to write new AI-specific rules and leaning on the existing Consumer Duty. * UK banks, insurers and fintechs can now expect faster, data-driven scrutiny of filings and conduct. Britain's Financial Conduct Authority (FCA) plans to automate much of its supervision and enforcement using AI. The FCA plans to become what it calls an "agentic regulator," and it is doing so without writing any AI-specific rules for the firms it oversees. How will the FCA become an agentic regulator? MPs on the Treasury Committee were told at an evidence session on October 13 that Britain's Financial Conduct Authority will automate much of its supervision and enforcement. Jessica Rusu, the FCA's chief data, information and intelligence officer, said the automation of the regulator's operations is expected to catch harms at the authorization gateway. Rusu told the committee that AI is already helping case officers read unstructured text and work through intelligence faster across authorization, supervision and enforcement. However, she clarified that a human is still signing off on every decision "for now." Committee member John Glen reportedly asked the FCA whether it would adopt the agentic supervision model recommended by the Mills Review, and Rusu replied that the regulator was working towards becoming an "agentic regulator." The Mills Review was published in July 2026 and led by the former FCA executive director, Sheldon Mills. The review recommends that the FCA build an AI-enabled agentic supervisory model, arguing that the regulator needs greater powers. It also asked authorities to consider if large language models (LLMs) like ChatGPT, Claude and Gemini should abide by financial rules. Chief executive Nikhil Rathi stated that one of the first jobs handed to the FCA's agentic tool was tidying regulatory returns, with the software going back to firms to flag numbers that do not add up. Rathi said the point is to free up human supervisors' time to spend on higher-risk cases. However Rathi also told MPs he cannot agree that the FCA needs more powers until it has used its existing authority fully. He pointed out a change in the Financial Services and Markets Bill 2026 which shifts a Financial Ombudsman Service obligation from "may refer" to "must refer," which he said "could generate between 1,000 and 3,000 referrals." Rusu stated frontier-model developers have been cooperating with the regulator, sharing details of model vulnerabilities and cyber risks that the FCA then passes to financial firms. Will the FCA implement rules for AI? The FCA intends to rely on the AI frameworks already in place, especially the Consumer Duty, which is a set of standards requiring firms to deliver good outcomes for retail customers. In evidence to the Treasury Committee's January report on AI in financial services, Rusu said with both the Senior Managers and Certification Regime and the Consumer Duty the FCA does not "need to write new rules for AI." The UK has no AI-specific legislation, and some 75% of UK financial services firms already use the technology. The Mills Review points out that only 9% of consumers use traditional financial advice, around 900,000 UK adults are unbanked, and roughly £300 billion sits in low-interest accounts. One in five UK adults are open to letting AI make financial decisions for them, while about 26% already trust general-purpose chatbots for financial advice. Rathi told MPs that it is actively being debated if chatbots which only give general information, rather than advice for a specific person, should be regulated, adding that it's up to Parliament to decide. Separately, the FCA's Palantir contract for financial crime work has ended. Rusu is due to publish the FCA's response to frontier AI models the week of October 19, alongside findings from its AI Live Testing program which was announced in April. The second group to go through live trials with technical partner Advai included Barclays, Experian, Lloyds Banking Group's Scottish Widows and UBS. Testing concludes by year end, with an evaluation report due in the first quarter of 2027. FAQs. What does the FCA mean by an "agentic regulator"? It means using AI tools to automate parts of supervision and enforcement, such as reading unstructured filings and flagging data that does not reconcile, while, for now, keeping a human responsible for every final decision. Is the FCA writing new rules for firms using AI? Will AI chatbots that give financial advice be regulated? Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. Cryptopolitan strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration. TABLE OF CONTENT
Motor finance compensation scheme set for legal challenge next February. By PA News Agency Legal challenges to the £9.1 billion UK motor finance compensation scheme will be heard in court next February (Alamy/PA) Legal challenges to the £9.1 billion UK motor finance compensation scheme will be heard in court next February, the UK's financial regulator has said. The upper tribunal will hear the challenges from three lenders and the Consumer Voice advocacy group between February 16 and February 26. Regulators had previously indicated the challenge could be heard as early as December, indicating further delay for impacted customers. Car finance lenders Volkswagen Financial Services, Mercedes Benz Financial Services, and Credit Agricole Auto Finance are challenging the Financial Conduct Authority's (FCA) plans to compensate drivers who were mis-sold a car loan between 2007 and 2024. An estimated 12.1 million car finance agreements are eligible for redress, at an average of £829 per payout, under the FCA's scheme. However, the scheme is currently partially suspended ahead of the challenge, with car finance customers now having to wait into next year for full payouts. The FCA told lenders on Tuesday that they must keep preparing for the scheme and progress with complaints as far as possible. But it added that firms should plan for the possibility that "there may be no motor finance compensation scheme and no complaint handling pause" if the scheme is quashed in court. Alex Neill, co-founder of consumer rights organisation Consumer Voice, said: "Consumer Voice is ready to take our challenge to trial with a potential hearing date listed for December 2026, which has now had to be abandoned. The final hearing is now listed to take place in February 2027. "The FCA and lender applicants blame each other for the delay. "The FCA's approach to disclosure has been heavily criticised by all parties whilst the FCA blames the lenders' requests for extensive disclosure of underlying data and reliance upon fresh expert evidence as the cause of the trial being pushed into next year."
FCA's new bond tape sparks 70% surge in corporate bond trades. Verified 27 votes Updated 2 hours ago The UK's Financial Conduct Authority wrapped up a sweeping set of market reforms, and the numbers are hard to ignore. Jon Relleen, the FCA's director of infrastructure and exchanges, laid out the agency's progress at the 2026 Reform of the UK Public and Private Capital Markets Summit - more than 30 workstreams done, covering everything from listing rules to post-trade plumbing. Why it matters. The FCA's comprehensive reforms signify a pivotal shift in the UK capital markets, aiming to enhance transparency and efficiency, which are crucial for attracting both domestic and international investors. By addressing key areas such as listing rules and post-trade processes, these changes could foster greater liquidity and reduce operational costs, ultimately bolstering the competitiveness of the UK market in an increasingly globalized financial landscape. As digital assets and innovative financial instruments gain traction, the introduction of a Digital Gilt further demonstrates the UK's commitment to modernizing its capital framework to accommodate evolving market demands. That's a lot of ground covered. Relleen walked through changes hitting both primary and secondary markets, pointing to cost reductions for issuers, a brand-new bond tape, and the early-stage rollout of a platform for private company shares. The FCA's pitch is basically that UK markets need to stay globally competitive, and sitting still wasn't an option. Read Economics Bond tape launch and secondary market gains. Discover more Trade Forex Trade Crypto Now Read Economics The headline number from secondary markets is the bond consolidated tape, which went live in June. It's the first of its kind outside North America - a genuinely significant claim - and it's already pulled in 1.6 million license subscriptions. Corporate bond trades jumped 70% on the back of it. Government bond trades rose 30%. Those aren't small moves for a market that can feel pretty static year to year. An equity consolidated tape is coming too. The FCA hasn't named a provider yet - that appointment is still ahead - but work is moving forward. No firm timeline was given, so it's unclear exactly when traders will see it live. On the primary market side, the UK listing regime got a significant overhaul. The FCA says the changes cut costs for issuers and helped drive more corporate transactions. In the first half of 2026 alone, 25 companies joined the Main Market, including seven IPOs. That's not a massive wave, but it's movement in a direction the FCA clearly wants to sustain. Post-trade is where some of the more technical - but genuinely impactful - changes sit. Transaction reporting rules were adjusted, and the FCA projects those changes will save firms roughly £100 million annually. Clearing and margining rules also shifted, with the clearing threshold for commodity derivatives raised in response to volatility in those markets. Firms dealing in commodities had been pushing for that kind of adjustment for a while. Discover more Trade Forex Trade Crypto Now Compare Brokers PISCES, Digital Securities, and the AI Push. Private markets are growing fast globally, and the FCA moved to build dedicated infrastructure for them. PISCES - a new platform specifically for trading private company shares - is up and running. Four operators are already authorized. Seven transactions have gone through so far, involving companies ranging from tech firms to brewers. It's early days, but the FCA seems to want PISCES to become a real venue, not just a regulatory experiment. The Digital Securities Sandbox is live too, and the upcoming digital gilt - called DIGIT - is designed to push digital activity further into mainstream UK markets. It's a signal that the FCA isn't treating tokenization as a fringe concern. They're building for it. AI is on the agenda in a pretty serious way. The FCA set up an AI Lab and an AI Consortium to work through what safe adoption actually looks like in financial markets. No specific rules were announced yet - it seems like the collaborative, exploratory phase is still running - but the FCA is clearly trying to get ahead of it rather than react after the fact. Asset management got attention too. The FCA's review of the Alternative Investment Fund Managers Directive aims to cut regulatory friction for the sector. And alongside the government's pension market review, the FCA is pushing to make the overall investment landscape more accessible to retail participants. Retail investors are seeing some real changes. Simplified investment advice rules and clearer product information have already moved the needle. The value of retail-denominated corporate bonds rose 50%, with domestic retail investors putting more into fundraisings than before. That's a meaningful shift in who's actually participating in these markets. Collaboration and what's still unclear. The FCA isn't doing any of this alone. Relleen made clear that the Treasury and the Bank of England are both involved in shaping the reform agenda. The FCA also said it's watching other jurisdictions and taking international consistency seriously - it doesn't want UK rules to diverge so far from global norms that they create friction for cross-border activity. But the FCA also said it's willing to scrap existing rules when they're no longer working. That's a harder line than regulators usually take publicly. Whether it translates into faster rule changes or stays at the level of stated principle is genuinely unclear yet. Industry feedback is supposedly driving a lot of the agenda. The FCA says it stays open to ideas from the private sector. What that looks like in practice - and whether firms feel heard - probably depends who you ask. The AIFMD review is still ongoing. The pension market review is still ongoing. The equity consolidated tape provider still needs to be named. And the digital gilt hasn't launched yet. So for all the completed workstreams, there's a long list of things still in motion. Read Economics Retail-denominated corporate bonds rose 50% in value. Frequently asked questions. What is the FCA's bond consolidated tape and why does it matter? What is PISCES and how many transactions has it completed? Community Trust Index High Confidence Real96% 4%Fake 27 community signals Post Views: 13 Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field. Trade Crypto Now