GDF Response to FCA Consultation Paper CP25/28 – Progressing Fund Tokenisation (Part 1: Accelerating Tokenisation of Authorised Funds)
GDF welcomes the FCA’s proposals and strongly supports the continued use of the UK’s technology-neutral COLL and OEIC frameworks to enable tokenised funds, DLT-based registers and future settlement models. We view CP25/28 as a highly positive and forward-leaning step that positions the UK as an early mover in shaping next-generation fund infrastructure.
Our submission notes our support for the FCA’s proportionate, innovation-friendly roadmap and highlights areas where targeted clarification would help firms plan for fully on-chain fund models, particularly regarding the future treatment of digital settlement assets, interaction with the Digital Securities Sandbox, and supervisory expectations for smart-contract governance and operational resilience.
Submitted: 21/11/25
Download