Project Guardian:- fund and asset tokenisation report is out.
11/11/2024
Project Guardian is an international collaboration of industry and regulators, led by the Monetary Authority of Singapore, that explores the use of fund and asset tokenisation.
The first industry-led Project Guardian report on tokenisation in the asset management sector, delivered through Project Guardian’s asset and wealth management workstream is here:-
- Read the report: Guardian Funds Framework
- https://www.mas.gov.sg/publications/monographs-or-information-paper/2024/guardian-funds-framework
- https://www.mas.gov.sg/-/media/mas-media-library/development/fintech/guardian/guardian-funds-framework.pdf
In the report,
- Firms set out an ambitious, phased vision for the use of DISTRIBUTED LEDGER TECHNOLOGY (DLT) in asset management.
The report also discusses potential industry and regulatory standards needed to:
- Scale tokenisation use-cases.
- Enable firms and investors to benefit from the technology.
THE FCA
- The FCA will continue working with Project Guardian members and the sector to support the development and adoption of asset tokenisation.
- In 2025, the FCA are going to collaborate with the Monetary Authority Singapore (MAS) to explore the regulatory considerations for tokenisation within the asset and wealth management sector.
- The FCA review will consider:
- Regulatory and supervisory principles that could apply to tokenisation use-cases to support consumers and the integrity of the FCA markets.
- Any potential regulatory barriers to continuing maturity of tokenisation concepts.
The FCA work in Project Guardian
- The FCA are a member of Project Guardian’s policymaker group and are taking part in the asset and wealth management workstream.
- Throughout 2024, the MAS, FCA and broader Guardian policymaker group have worked with Singapore, UK and international firms within the Guardian membership to develop the use-cases explored in this report, including at the Point Zero Forum in Zurich.
- The FCA and the Treasury are also observers on the industry-led Technology Working Group of the government’s Asset Management Taskforce that is considering the implementation of fund tokenisation in the UK.
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.