HMT announce Asset Management Taskforce and Technology Working Group
HM Treasury re-establishes Asset Management Taskforce and launches new Technology Working Group as part of its Edinburgh Reforms package.
On 26 April 2023, HM Treasury (HMT) published a press release announcing it has re-established its Asset Management Taskforce as part of its Edinburgh Reforms package. HMT also announced its launch of a new Technology Working Group that will operate alongside the Taskforce to examine the impact of new technology on the asset management sector.
Asset Management Taskforce
Five senior executives have joined the Taskforce following the government's announcement of the Edinburgh Reforms package aimed at driving growth and competitiveness in the financial services sector. The Taskforce was first established in September 2017 and revamped in February 2019.
Technology Working Group
The Working Group's focus will be on:
- Articulating the benefits of technology for investors and industry.
- Identifying the main opportunities presented by technologies, including tokenisation, artificial intelligence and distributed ledger technology.
The membership of the Working Group will be drawn from Taskforce members, government and regulators, and wider non-asset management stakeholders. It aims to hold a series of meetings over the year ahead and produce a final report setting out its findings, together with guidance and recommendations for government, regulators and industry, to the Taskforce.
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