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FCA work in review: December 4-10, 2025
Our weekly roundup of the latest news and developments from the FCA.
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FCA reveals fund tokenization plans to modernize UK asset management
The regulator is seeking industry feedback on proposals to allow the tokenization of assets held in funds.
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Hargreaves Lansdown issues crypto warning
Move follows the lifting of the FCA’s crypto ETN ban.
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FCA consults on rulebook changes resulting from new targeted support regime
Proposed changes include those to the SYSC, COBS, ICOB and SUP handbook modules.
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SEC’s report details insights from its spring Small Business Forum
The SEC’s annual Small Business Forum is an event in which members of the public and private sectors provide feedback to improve capital-raising policy.
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Multiple actions connected to Shield Master Fund taken by ASIC
Actions against eight parties relating to the failure of the Shield fund were taken during week 35.
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Broker settles with FINRA for unsuitable recommendations involving REITs, BDCs
The SRO’s action directed toward an individual aligns with the Trump Administration’s focus on individual bad actors and not their employers, when possible.
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SEC to focus on navigating risk, reform, and retail protection in 2026
SEC targets protection of retail investors amid rising complexity in crypto, private markets, and foreign-linked disclosures.