Page 33 - 期货和衍生品行业监管动态（2025年7月）

期货和衍生品行业监管动态

introducing a new public offer platform, we have made it easier for companies to raise

the money they need to grow. We have also given investment firms more choice in

how they pay for research.

Sweeping reforms to the rules for bonds and derivatives will reduce costs for

firms and ensure investors have access to better, quicker and clearer data.

Streamlining transparency rules and our proposal to remove the systematic

internaliser regime for bonds and derivatives will reduce cost and complexity for

firms.

Simplifying the regulatory perimeter for commercial users of commodity

derivatives, via reform of the ancillary activities test, will also help ensure open and

competitive markets.

Millions more people could get support with their pensions and investments,

under our landmark reforms to the advice guidance boundary. And information

supplied to investors will be simplified to drive investment, including removing

complex cost disclosure requirements for firms.

We continue to lower costs for firms by streamlining our rulebook, including the

Senior Manager Certification Regime, reducing data requests, simplifying
authorisations and focussing engagement with firms on a smaller number of priorities.

Supporting innovation is also a critical part of our work. In June 2025, we

introduced PISCES, a new private stock market enabling investors to buy stakes in

exciting growth companies. And our Digital Securities Sandbox helps firms test drive

innovative technology and shape the future of the market.

This work represents a bold shift that promotes innovation, lowers costs, creates

jobs and attracts a broader investor base for growing businesses.

Looking ahead

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