PANews reported on October 15th that, according to Caixin, the UK Financial Conduct Authority (FCA) sought public comment on a proposal on October 14th to support the asset management and fund industry's embrace of tokenization. The proposal provides a compliant path for registering mutual fund units on a distributed ledger (DLT), aiming to reduce costs and increase efficiency in the asset management industry through blockchain technology. According to the draft for public comment, the FCA's proposed "blueprint model" allows fund managers to migrate their fund unit registration system to a blockchain without changing the core regulatory framework. Fund custody, valuation, information disclosure, and investor protection requirements remain unchanged, but unit registration can be completed on a distributed ledger.