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John Swinney has won the SNP leadership contest and is set to be named as Scotland’s new first minister, replacing Humza Yousaf.

Mr Swinney could become Scotland’s seventh first minister as early as Tuesday.

The SNP leadership nominations closed at 12pm on Monday, with the party confirming Mr Swinney was the sole nominee.

He is expected to give a speech later in the day.

Posting on X, he said: “I am deeply honoured to have been elected as leader of the SNP. I will give all that I have to serve my party and my country.”

The former deputy first minister, who served under close ally Nicola Sturgeon, emerged as a frontrunner following Mr Yousaf’s resignation last week.

Former finance secretary Kate Forbes had been tipped to join him, but later announced she would not stand and instead threw her support behind Mr Swinney.

More on Humza Yousaf

Mr Swinney has said he would want Ms Forbes to “play a significant part” in his government if elected as first minister.

EMBARGOED TO 0001 MONDAY MAY 6 File photo dated 02/05/24 of MSP John Swinney at the Scottish Parliament in Edinburgh, after he became the first candidate to declare his bid to become the new leader of the SNP and Scotland's next first minister. It seems beyond doubt that on Monday, exactly a quarter of a century after Scots first went to the polls to elect their MSPs, John Swinney will become the new SNP leader - and will therefore go on to be Scotland's seventh first minister. Issue date: Monda
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John Swinney. Pic: PA

Potential challenger Graeme McCormick also withdrew his bid at the 11th hour.

The veteran SNP activist claimed he had secured the 100 nominations from 20 branches needed to enter the contest but backed out of the campaign on Sunday evening after a “lengthy and fruitful conversation” with Mr Swinney.

The SNP has appeared keen to avoid an explosive leadership contest similar to the one that followed Ms Sturgeon’s resignation.

Last year’s race, involving Mr Yousaf, Ms Forbes and now Alba Party MSP Ash Regan, featured rows over religious beliefs, arguments about the recollection of past events, and widespread criticism of secrecy surrounding the vote.

It also led to the resignation of Ms Sturgeon’s husband Peter Murrell as SNP chief executive.

Scottish Tory leader Douglas Ross congratulated Mr Swinney on becoming SNP leader for a second time, but urged him to abandon his “relentless push for independence”.

Mr Ross added: “It’s difficult to see how he can be the fresh start Scotland needs when he’s the ultimate continuity candidate.”

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Patrick Harvie, Scottish Greens co-leader, said Scotland “needs a period of stable government”.

He added: “Mr Swinney knows that if he is to have our support then it must be on the basis of progressive policies that help us to tackle the climate crisis and build a fairer and more equal future.”

Mr Harvie said his party remains “utterly committed” to the policies delivered as a result of the Bute House Agreement and will “oppose any move away from them or steps to dilute them”.

He added: “We are committed to delivering on our vision of a fairer, greener and more equal Scotland, and are open to talks with John Swinney and his team about how we can work together to make that happen.”

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John Swinney speaking to Sky News

Read more:
Who is John Swinney?

What happens next?

Mr Swinney is now clear to take over as SNP leader, but will need to seek parliamentary approval to succeed Mr Yousaf as first minister.

The timing is decided by the parliamentary bureau, and could take place as early as Tuesday.

The parliament will have 28 days to nominate a replacement for Mr Yousaf once his resignation has been accepted by the King.

As the SNP is comfortably the largest party in Holyrood, the onus is on them to find a new leader who can work with other parties in a minority government.

The SNP’s tally of 63 MSPs leaves them just short of a majority in the 129-member parliament, meaning politicians from other parties would need to be persuaded to either vote for Mr Swinney, or at least abstain in the ballot, for the party to be successful.

The leaders from other political parties can also put themselves forward and MSPs can nominate a candidate, although it must be seconded by another member.

If that happens, any candidate that secures more than half of all votes will win the nomination.

If no one reaches that threshold, the candidate with the fewest votes will be eliminated – with the process repeated until the candidates are whittled down to two.

At that point, a candidate will only require a simple majority to win.

Whoever wins the vote is then formally appointed by the King.

An official swearing-in ceremony at the Court of Session in Edinburgh would then take place.

However, if no new first minister can be selected within the 28 days, the Scottish parliament would be forced to hold an extraordinary general election.

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Specialist teams and online investigators deployed across England and Wales to tackle ‘national emergency’ of violence against women and girls

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Specialist teams and online investigators deployed across England and Wales to tackle 'national emergency' of violence against women and girls

Specialist investigation teams for rape and sexual offences are to be created across England and Wales as the home secretary declares violence against women and girls a “national emergency”.

Shabana Mahmood said the dedicated units will be in place across every force by 2029 as part of Labour’s violence against women and girls (VAWG) strategy due to be launched later this week.

The use of Domestic Abuse Protection Orders (DAPOs), which had been trialled in several areas, will also be rolled out across England and Wales. They are designed to target abusers by imposing curfews, electronic tags and exclusion zones.

The orders cover all forms of domestic abuse, including economic abuse, coercive and controlling behaviour, stalking and ‘honour’-based abuse. Breaching the terms can carry a prison term of up to five years.

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Govt ‘thinking again’ on abuse strategy

Nearly £2m will also be spent funding a network of officers to target offenders operating within the online space.

Teams will use covert and intelligence techniques to tackle violence against women and girls via apps and websites.

A similar undercover network funded by the Home Office to examine child sexual abuse has arrested over 1,700 perpetrators.

More on Domestic Abuse

Abuse is ‘national emergency’

Ms Mahmood said in a statement: “This government has declared violence against women and girls a national emergency.

“For too long, these crimes have been considered a fact of life. That’s not good enough. We will halve it in a decade.

“Today, we announce a range of measures to bear down on abusers, stopping them in their tracks. Rapists, sex offenders and abusers will have nowhere to hide.”

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Angiolini Inquiry: Recommendations are ‘not difficult’

The target to halve violence against women and girls in a decade is a Labour manifesto pledge.

The government said the measures build on existing policy, including facial recognition technology to identify offenders, improving protections for stalking victims, making strangulation a criminal offence and establishing domestic abuse specialists in 999 control rooms.

Read more from Sky News:
Demands for violence and abuse reforms
Women still feel unsafe on streets
Minister ‘clarifies’ violence strategy

Labour has ‘failed women’

But the Conservatives said Labour had “failed women” and “broken its promises” by delaying the publication of the violence against women and girls strategy.

Shadow home secretary Chris Philp said that Labour “shrinks from uncomfortable truths, voting against tougher sentences and presiding over falling sex-offender convictions. At every turn, Labour has failed women”.

Home Secretary Shabana Mahmood will be on Sunday Morning with Trevor Phillips on Sky News this morning from 8.30am.

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The Securities and Exchange Commission publishes crypto custody guide

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The Securities and Exchange Commission publishes crypto custody guide

The United States Securities and Exchange Commission (SEC) published a crypto wallet and custody guide investor bulletin on Friday, outlining best practices and common risks of different forms of crypto storage for the investing public.

The SEC’s bulletin lists the benefits and risks of different methods of crypto custody, including self-custody versus allowing a third-party to hold digital assets on behalf of the investor.

If investors choose third-party custody, they should understand the custodian’s policies, including whether it “rehypothecates” the assets held in custody by lending them out or if the service provider is commingling client assets in a single pool instead of holding the crypto in segregated customer accounts.

Bitcoin Wallet, Paper Wallet, Wallet, SEC, United States, Mobile Wallet, Hot wallet, Self Custody
The Bitcoin supply broken down by the type of custodial arrangement. Source: River

Crypto wallet types were also outlined in the SEC guide, which broke down the pros and cons of hot wallets, which are connected to the internet, and offline storage in cold wallets.

Hot wallets carry the risk of hacking and other cybersecurity threats, according to the SEC, while cold wallets carry the risk of permanent loss if the offline storage fails, a storage device is stolen, or the private keys are compromised. 

The SEC’s crypto custody guide highlights the sweeping regulatory change at the agency, which was hostile to digital assets and the crypto industry under former SEC Chairman Gary Gensler’s leadership.