Banking &amp; Credit

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Topics:

All Firms

🇦🇺 ASIC News

August 5th 2026

ASIC launches new digital resources for small business directors

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

All Firms

Banking & Credit Insurance & Pensions Investment Management

🇸🇬 MAS News

August 5th 2026

No description available.

AI Analysis

The CSSF is formally drawing attention to the CNC Q&A 26/038, which provides detailed interpretative guidance on the **new accounting regime introduced by the Law of 7 August 2023** for large not‑for‑profit associations, public‑utility associations and foundations. This matters for compliance teams because these entities are now aligned with the accounting regime for “medium‑sized undertakings” under Luxembourg company law, with specific obligations on annual accounts formats, filing, and chart‑of‑accounts choices that require governance, process and system changes.

What Changed

- Large associations, associations recognised as being of public utility and foundations are now subject to the accounting regime applicable to “medium‑sized undertakings” under the amended...
Annual accounts for affected entities must include a non‑abridged balance sheet, a profit and loss account (at least in abridged format), and notes to the accounts containing disclosures required by...
Affected entities must use statutory LRCS layouts for the balance sheet and profit and loss account and file their annual accounts in classic format with the Luxembourg Trade and Companies Register...
Large associations, public‑utility associations and foundations remain exempt from the mandatory use of the Standard Chart of Accounts (Plan Comptable Normalisé – PCN) and from eCDF standard data...
Affected entities may voluntarily adopt the PCN; if they do not adopt PCN, they must maintain an internal chart of accounts and ensure robust, documented mapping between internal accounts and...

Suggested Considerations

Identify all Luxembourg associations, public‑utility associations and foundations within or related to the group that are impacted by the Law of 7 August 2023 and confirm their size classification (small, medium‑sized, large) and whether they fall under the “medium‑sized undertakings” regime.
Review existing accounting policies, charts of accounts and annual accounts formats for affected entities to ensure alignment with LRCS statutory layouts, including non‑abridged balance sheet, appropriate profit and loss format, and required notes disclosures.
Decide at governing‑body level whether each affected entity will voluntarily adopt the PCN or maintain an internal chart of accounts, documenting the rationale, governance approvals and compliance impacts of the chosen option.
Where PCN is not adopted, design, implement and document a robust mapping from the internal chart of accounts to the statutory LRCS balance sheet and profit and loss layouts, ensuring audit‑ready documentation and traceability.
Update accounting systems and reporting tools for affected entities to support LRCS statutory layouts, consistent layout adaptations, and classic‑format filing with the RCS, including necessary changes to interfaces and data capture.

Key Dates

07 August 2023

- Law of 7 August 2023 introducing the new accounting regime for associations and foundations enters into force and defines classification as “small associations”, “medium‑sized associations” and “large associations” with corresponding accounting obligations

Autumn 2026

- CNC plans to publish an accounting guide dedicated to the new accounting regime for ASBLs classified as small, medium‑sized and large associations, and associations recognised as being of public utility

04 August 2026

- CSSF press release is published, formally drawing supervisory attention to CNC Q&A 26/038 and the related upcoming CNC accounting guide

Compliance Impact

Non‑compliance may result in defective or non‑compliant annual accounts filings, potential rejection or queries from the RCS, and heightened supervisory scrutiny by the CSSF where the entities are linked to regulated groups, with knock‑on effects on group reporting and reputational risk. For larger public‑interest or group‑related entities, persistent non‑compliance could trigger audit qualifications and regulatory concerns about governance and internal control over financial reporting.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Senior Managers / Governance

BankInsuranceAsset Manager

🇱🇺 CSSF Guidance medium

August 4th 2026

CSSF communiqué relating to the publication of Q&A CNC 26/038, entitled “Large associations, associations recognised as being of public utility and foundations: targeted clarifications on the new accounting regime introduced by the Law of 7 August 2023” (only in French)

No description available.

AI Analysis

The CSSF is formally drawing attention to CNC Q&A 26/038, which provides detailed interpretative guidance on the **new accounting regime introduced by the Law of 7 August 2023** for large not‑for‑profit associations, public‑utility associations and foundations. This matters for compliance teams because these entities are now subject to annual accounts obligations aligned with the regime for “medium‑sized undertakings” under the Luxembourg commercial companies law, with specific rules on formats, exemptions from PCN/eCDF, and forthcoming detailed guidance for all association size categories.

What Changed

- Large not‑for‑profit associations, associations recognised as being of public utility and foundations are required to prepare annual accounting documents consisting at a minimum of annual accounts...
These entities fall within the regime applicable to “medium‑sized undertakings”, which drives the required content and level of detail of their annual accounts (balance sheet, profit and loss account...
The law and the CNC Q&A confirm that large associations, public‑utility associations and foundations are not legally required to use the Standard chart of accounts (Plan comptable normalisé, PCN) or...
Although exempt from mandatory PCN use and eCDF standard data collection, these entities must still file their annual accounts with the Luxembourg Trade and Companies Register (RCS) using statutory...
Large associations, public‑utility associations and foundations are exempt from the obligation to file the PCN trial balance (balance générale) via the eCDF platform, even though they may still...

Suggested Considerations

Identify whether the organisation qualifies as a large association, an association recognised as being of public utility or a foundation under the Law of 7 August 2023, and document the classification decision with reference to Articles 18, 36 and 52 of that law.
Update internal accounting policies to require annual accounts to be prepared in accordance with the regime for undertakings referred to in Article 47 LRCS, including minimum content (balance sheet, profit and loss account and notes) and disclosure requirements.
Decide formally whether to adopt the PCN on a voluntary basis or to maintain an internal chart of accounts, and record this decision in accounting governance documents approved by the board or governing body.
Where PCN is not adopted, design and implement a detailed and documented mapping from internal general ledger accounts to LRCS statutory balance sheet and profit and loss layouts to ensure accurate preparation and filing of annual accounts.
Review and, where necessary, redesign annual accounts templates to comply with LRCS layouts while making only permitted adaptations (for example, titles and subtotals) that maintain clarity, comparability and consistency over time.

Key Dates

01 January 2023

- Earliest financial year start date from which adjusted size criteria under Articles 35 and 47 LRCS may be applied to undertakings and groups, which indirectly affects categorisation and accounting obligations of entities subject to commercial‑law size criteria

07 August 2023

- Law of 7 August 2023 introducing the new accounting regime for associations and foundations is adopted, setting the legal basis for reclassification and annual accounts obligations

01 January 2024

- Default application date of the adjusted LRCS size criteria for undertakings and groups where early application from 01 January 2023 is not chosen

Financial year 2025

- New LRCS size thresholds start to determine the categorisation of pre‑existing Luxembourg undertakings and, by analogy, influence assessments of “medium‑sized” status relevant to associations

Autumn 2026

- CNC plans to publish an accounting guide dedicated to the new accounting regime for not‑for‑profit associations (ASBLs) classified as small, medium‑sized and large, as well as public‑utility associations and foundations

Compliance Impact

Non‑compliance primarily exposes large associations, public‑utility associations and foundations to deficiencies in statutory annual accounts and registry filings, which can lead to legal and governance risks, increased audit findings and potential supervisory concerns where the CSSF has a stake. For CSSF‑regulated firms, reliance on non‑compliant counterparties may undermine financial reporting integrity and due‑diligence standards, with knock‑on effects in broader regulatory reviews.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Senior Managers / Governance

Topics:

BankAsset ManagerAll Firms

🇨🇭 FINMA News high

August 4th 2026

Aktualisierte Sanktionsmeldung: Taliban

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.

Sectors:

Topics:

All Firms

🇸🇬 MAS News

August 4th 2026

Written reply to Parliamentary Questions on access to cash and physical banking services

Sectors:

Consumer Protection / Conduct Operational Resilience / Outsourcing

Topics:

BankPayment Provider

Banking & Credit Payments & E-Money Consumer Credit

🇸🇬 MAS News

August 4th 2026

Written reply to Parliamentary Question on minors who incurred excessive or unauthorised spending through online platforms

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure

BankPayment Provider

Banking & Credit Capital Markets & Trading Investment Management

🇯🇵 JFSA News

August 3rd 2026

Publication,Publication of Slogan of Financial Sector Policy

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance

All Firms

🇪🇺 ESMA Consultation medium

August 3rd 2026

EBA, EIOPA and ESMA propose amendments to bilateral margin requirements

EBA, EIOPA and ESMA propose amendments to bilateral margin requirements 03 August 2026 Joint Committee Trading The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published a final report on draft Regulatory Technical Standards (RTS), proposing to simplify the bilateral margin requirements of the European Commission’s Delegated Regulation (EU) 2016/2251. The proposed amendments aim to simplify the bilateral margin framework for counterparties that are subject to initia...

AI Analysis

The ESAs have issued a Final Report and draft RTS proposing targeted amendments to Delegated Regulation (EU) 2016/2251 so that counterparties below the EUR 8 billion initial margin threshold under EMIR are fully exempt from exchanging initial margin, both on new and existing uncleared OTC derivatives. This materially simplifies bilateral margining for smaller in-scope counterparties, reduces operational and custodial burdens, and aligns the EU regime with similar reforms already implemented in other jurisdictions (e.g. UK EMIR). Compliance teams must prepare now for the transition from a “legacy-only” margining obligation to a complete exemption once the EUR 8 billion AANA threshold is no longer met.

What Changed

- Counterparties whose average aggregate notional amount (AANA) of non-centrally cleared OTC derivatives falls below the EUR 8 billion threshold will no longer be required to exchange initial margin...
The current framework, under which below-threshold counterparties are exempt from initial margin for new trades but must continue to exchange initial margin for pre-existing “legacy” contracts, will...
Article 28(1) of Delegated Regulation (EU) 2016/2251 will be amended to explicitly extend the exemption from initial margin requirements to outstanding contracts where one of the two counterparties...
The RTS introduce a clearer operational framework for entry into and exit from the initial margin regime based on the annual AANA calculation for March–May, including scenarios where one or both...
Once a counterparty falls below the EUR 8 billion threshold under the revised rules, firms will be permitted to terminate related initial margin processes, including ceasing ongoing calculation,...

Suggested Considerations

Map all EMIR in-scope entities within the group and identify those whose AANA of non-centrally cleared OTC derivatives is close to or below the EUR 8 billion threshold, to assess which relationships may benefit from the expanded exemption.
Review current collateral and margin frameworks to identify legacy contracts where initial margin is still being exchanged solely because the regime requires continuation despite the counterparty having fallen below the EUR 8 billion threshold.
Prepare an internal policy update so that, once the RTS enter into force, initial margin requirements are switched off for counterparties below the EUR 8 billion threshold on both new and existing uncleared OTC derivatives, subject to group risk appetite.
Update EMIR margin procedures and AANA calculation processes to ensure accurate annual determination of whether each counterparty is above or below the EUR 8 billion threshold, including documentation of the March–May calculation methodology.
Review and amend collateral agreements, credit support annexes (CSAs) and associated legal documentation to incorporate the revised treatment for below-threshold counterparties, including terms for stopping margin exchange and potentially releasing segregated collateral.

Key Dates

03 August 2026

- ESAs publish the Final Report and draft RTS proposing amendments to Delegated Regulation (EU) 2016/2251 to simplify bilateral margin requirements for counterparties below the EUR 8 billion initial margin threshold

TBD (European Commission adoption)

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Fintech

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇬🇧 BoE Enforcement medium

August 3rd 2026

Appointment of Chair and Deputy Chair of the Enforcement Decision Making Committee (EDMC)

Following an external recruitment process, the Bank of England (the Bank) has appointed Nicholas Segal as Chair of its Enforcement Decision Making Committee (EDMC), and Peter King as Deputy Chair, with effect from 1 August 2026.

AI Analysis

The Bank of England has appointed **Nicholas Segal** as Chair and **Peter King** as Deputy Chair of the Enforcement Decision Making Committee (EDMC), effective 1 August 2026, following expiry of the terms of Sir William Blair and Philip Marsden. This is a governance and enforcement leadership change, not a change to the EDMC Procedures, but compliance teams should anticipate potential shifts in enforcement approach and decision‑making tone across prudential regulation, FMI, resolution, securitisation, wholesale cash distribution, critical third parties and note issuance.

What Changed

- The EDMC now has a new Chair (Nicholas Segal) and Deputy Chair (Peter King), replacing Sir William Blair and Philip Marsden whose terms ended in July 2026.
The appointments are the outcome of an external recruitment process commenced in October 2025, aligned with the EDMC’s governance framework and five‑year renewable term structure.
The scope of the EDMC’s remit continues to cover contested enforcement decisions across the Bank’s statutory regimes: Prudential Regulation, Financial Market Infrastructures, Resolution,...
The EDMC Procedures, published in January 2024, remain the operative framework for how contested enforcement cases are handled, including panel constitution, hearing processes, and decision‑making...
The EDMC continues to operate with functional separation from investigation teams and the Bank’s executive, preserving independence in contested enforcement decisions.

Suggested Considerations

Map all existing and potential enforcement exposures to the EDMC’s statutory remit, covering prudential regulation, FMI, resolution, securitisation, wholesale cash distribution, critical third parties and notes issuance.
Review internal enforcement‑response playbooks to ensure they explicitly recognise the EDMC’s independent role and the January 2024 EDMC Procedures, including how contested cases will be heard and decided.
Update board and senior management briefings on BoE/PRA enforcement to reflect the change in EDMC leadership and likely implications for contested case strategy and settlement versus contest decisions.
Assess ongoing and anticipated enforcement matters for which the firm might contemplate contesting; incorporate the EDMC’s composition and procedures into litigation and regulatory strategy planning.
Train Legal, Compliance and relevant business teams on the practical implications of the EDMC Procedures (panel size, hearing processes, written and oral representations, decision timelines) with scenario‑based exercises for contested cases.

Key Dates

August 2018

- EDMC established by the Court of Directors to provide independent decision‑making in contested enforcement cases and functional separation from investigation teams

January 2024

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing

All Firms

🇺🇸 CFTC Consultation high

July 30th 2026

CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Affiliations Among Certain CFTC-Regulated Entities

No description available.

AI Analysis

The CFTC has issued a Notice of Proposed Rulemaking (NPRM) to amend Part 37 (SEFs), Part 38 (DCMs), Part 39 (DCOs), and regulations 1.52 and 1.55 to address **affiliations and vertically integrated structures** among CFTC‑regulated entities and market participants. The proposal is explicitly aimed at managing **actual and perceived conflicts of interest** in affiliated structures (e.g. exchange/clearinghouse/intermediary/market‑maker combinations) through principles‑based rules that preserve responsible innovation while reinforcing market integrity.

What Changed

- Introduces principles‑based requirements for vertically integrated market structures involving affiliations between derivatives clearing organizations, designated contract markets, swap execution...
Amends Part 37 to set additional governance, conflict‑management, and structural requirements for swap execution facilities where the SEF is affiliated with an intermediary or trading entity.
Amends Part 38 to impose enhanced conflict‑of‑interest and self‑regulatory safeguards for designated contract markets that are affiliated with futures commission merchants or proprietary trading...
Amends Part 39 to clarify and strengthen requirements on derivatives clearing organizations in group structures where the DCO is affiliated with intermediaries or other market participants, including...
Amends regulation 1.52 (accounts and records; FCM supervisory requirements) to reflect the heightened expectations placed on futures commission merchants that are part of vertically integrated...

Suggested Considerations

Identify and map all affiliate relationships involving CFTC‑regulated entities within your group (DCO, DCM, SEF, FCM, SD/MSP, trading entities, market makers) and document how roles and control relationships could create actual or perceived conflicts of interest.
Conduct a gap analysis of existing governance, conflicts‑of‑interest, information‑barrier, and supervision frameworks against the anticipated principles‑based expectations for vertically integrated structures under Parts 37, 38, 39 and regulations 1.52 and 1.55.
Review and, where necessary, enhance board‑level and committee‑level oversight arrangements for affiliated entities to ensure independent decision‑making on listing, clearing, rule enforcement, membership, and client treatment where affiliates are involved.
Assess current customer risk disclosures, including those required under regulation 1.55 for FCMs, to determine whether affiliate relationships and related conflicts are adequately described, and prepare draft revisions that could be implemented if the new requirements are finalized.
Engage legal, compliance, and business stakeholders for each affected entity (DCO, DCM, SEF, FCM, trading entity) to prepare a coordinated comment letter to the CFTC explaining operational impacts, potential unintended consequences, and recommendations on specific rule language.

Key Dates

TBD (est. late 2026 / 2027)

Central Bank of Ireland has today published its Supplemental Guidance on Prohibition Notices under the Fitness and Probity Regime , and a related Feedback Statement on Consultation Paper 166 . The Consultation , which closed on 25 March 2026, received eight submissions from representative bodies and individuals. The Central Bank’s stakeholder webinar on the topic held during the course of the consultation was positively received by its 150 attendees. The Supplemental Guidance sets out the cir...

AI Analysis

The Central Bank of Ireland (CBI) has finalised and published **Supplemental Guidance on Prohibition Notices under the Fitness and Probity (F&P) Regime**, together with a Feedback Statement on Consultation Paper 166 (CP166). This guidance materially clarifies how CBI decision makers will determine the **nature, scope, duration, termination and publication** of Prohibition Notices, raising the bar for governance, investigation handling, and individual accountability across all Irish-regulated firms.

What Changed

- The Supplemental Guidance formally sets out the circumstances and general principles the CBI’s Prohibition Decision Maker will consider when deciding whether to impose a Prohibition Notice,...
The guidance clarifies the decision-making framework for the nature, scope and duration of a prohibition, including whether it applies to specific controlled functions (CFs), parts of CFs, or any...
The guidance codifies how a Prohibition Notice becomes effective, establishing that effectiveness arises either through a written agreement between the CBI and the individual concerned (prohibition...
The guidance explains the three mechanisms by which a Prohibition Notice may be terminated or cease to have effect: (1) termination of a prohibition agreement by the CBI, (2) revocation of a...
The Supplemental Guidance sets out CBI’s approach to requests by prohibited persons to terminate a prohibition agreement, including the factors CBI will assess when considering whether to lift or...

Suggested Considerations

Update Fitness and Probity policies, procedures, and governance frameworks to explicitly address the possibility of Prohibition Notices, including criteria for escalation, internal investigation standards, record‑keeping, and engagement protocols with the CBI during prohibition-related processes.
Ensure Board and senior management, including PCF role holders and HR/legal/compliance leads, are briefed on the new prohibition guidance, the publication policy, and the enhanced transparency of outcomes so that they understand the personal and organisational consequences of F&P failings.
Strengthen documentation and retention of supervisory, disciplinary, compliance and performance records for CF and PCF holders to ensure that, if a prohibition is contemplated, the firm can provide a coherent, contemporaneous factual record to the CBI and the individual.
Review and, where necessary, amend individual accountability frameworks (including Statements of Responsibilities and role profiles) to clearly delineate responsibilities, seniority and CF scope, given that these factors now explicitly influence the nature, scope and duration of any prohibition.
Embed procedures to manage individuals who become subject to proposed or actual Prohibition Notices, including immediate role restrictions, notification workflows, communication protocols to boards and key stakeholders, and contingency planning for business continuity.

Key Dates

TBD (est. late 2026–2027)

- CBI will integrate the Supplemental Guidance with the Main Guidance on Fitness and Probity Investigations, Suspensions and Prohibitions as part of its wider implementation of a recent High Court judgment relating to F&P enforcement procedures

28 January 2026

Low Impact Amendments Consultation July 2026

AI Analysis

The PRA’s LIAC02/26 consultation proposes targeted “low impact” changes to Solvency UK reporting for Lloyd’s syndicates and to PRA liquidity rules linked to Basel 3.1 and the forthcoming Overseas Prudential Requirements Regime. These changes will reduce reporting burdens for Lloyd’s syndicates and refine LCR eligibility/treatment of non‑UK covered bonds and related liquidity provisions, but they require systems, policy and reporting updates ahead of the 2026 year‑end and 2027 implementation.

What Changed

- Lloyd’s syndicates would be removed from the scope of Internal Model Output (IMO) reporting to the PRA via amendments to SS25/15 (Solvency II: Regulatory reporting, internal model outputs),...
SS26/15 (Solvency II: ORSA and the ultimate time horizon – non‑life firms) would be amended to clarify that the option to use IMO outputs in ORSA reporting applies only to firms still required to...
The IM.03 reporting instructions (section “General Comment”) would be amended to align the reporting template guidance with the removal of Lloyd’s syndicates from IMO reporting, avoiding inconsistent...
SS25/15 and SS26/15 would receive non‑substantive drafting updates to improve clarity and consistency, remove outdated EU references, and align terminology and framing with the PRA’s current Solvency...
For 2026 year‑end, Lloyd’s syndicates would no longer be required to submit IMOs to the PRA, with supervisory reliance instead on other Solvency UK reporting streams and data provided through the...

Suggested Considerations

Review existing IMO reporting processes and systems for Lloyd’s syndicates and prepare to decommission IMO submissions to the PRA for 2026 year‑end, ensuring all dependent internal reports and controls are updated.
Map all uses of IMOs in ORSA processes and supervisory reporting for non‑life firms, and update ORSA documentation and methodologies to reflect that the IMO‑based option applies only to firms that remain in scope of IMO reporting.
Update internal reporting manuals and instructions for IM.03 and related Solvency UK templates to reflect the revised PRA wording, removal of outdated EU references, and alignment with the PRA’s Solvency UK framework.
For Lloyd’s managing agents and syndicates, confirm alternative data channels and reporting obligations to the PRA (via Lloyd’s or Solvency UK templates) that will replace the supervisory reliance previously placed on IMO reporting.
Conduct an inventory of non‑UK covered bonds currently recognised as Level 2A HQLA in LCR calculations and assess how the proposed amendments to Article 11(1)(d)(ii) would change eligibility, haircuts, or caps from 1 January 2027.

Key Dates

Consumer Protection / Conduct Reporting & Disclosure

Topics:

Bank

Banking & Credit Payments & E-Money Capital Markets & Trading

🇬🇧 FCA Speech

July 28th 2026

Strengthening resilience across an increasingly interconnected financial system

Think of the last time you made a payment, transferred money, used a banking app or logged on to online financial services. Did you give much thought to the infrastructure that makes those essential everyday transactions possible?Let’s be honest, you probably didn’t. Most people don’t – until something goes wrong.Financial services rely on a network of providers working behind the scenes – including technology, data and operational service providers.These are so important to the resilience of...

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber

BankPayment ProviderAll Firms

Banking & Credit Wealth & Private Banking Insurance & Pensions

🇦🇺 ASIC News

July 28th 2026

The Consumer Duty was designed to ensure firms were focussed on the outcomes that matter to their customers. Understanding the actual experiences of people and identifying potential harm are essential to delivering these improvements. So outcomes monitoring is at the heart of helping consumers to better navigate their financial lives.Understanding these outcomes is about more than collecting data or producing reports. It helps firms identify where customers may be struggling, spot emerging ri...

AI Analysis

What Changed

- The FCA expects firms to regularly assess, test, understand, and evidence the outcomes retail customers are receiving under the Consumer Duty.
Firms should use monitoring to identify whether any group of retail customers is experiencing different outcomes from another group for the same product and understand why those differences exist.
Monitoring frameworks should define what good outcomes look like in practice and translate those outcomes into measurable indicators tied to the customer journey.
Firms should not rely on broad or high-level MI alone; they must use information to challenge performance, identify risks, and drive improvements.
Firms should be able to explain why metrics and tolerances were chosen and whether any actions taken have been tested and shown to reduce harm or friction.

Suggested Considerations

Firms must establish and maintain a documented outcomes monitoring framework that defines good and poor customer outcomes for each relevant product or service.
Firms must map metrics to the full customer journey, including product design, communications, customer support, and distribution arrangements.
Firms must collect MI that can identify poor or potentially poor outcomes, root causes, and emerging risks before harm crystallises.
Firms must document the rationale for each metric, threshold, and tolerance, including why those measures are appropriate for the customer population and product.
Firms must maintain a clear audit trail linking MI, governance review, decisions, remediation, and outcome improvement testing.

Key Dates

31 July 2023

- Consumer Duty came into force for open products and services and firms were expected to have outcomes monitoring capability in place from day one

31 July 2024 DEADLINE

- The final Consumer Duty implementation deadline applied to all in-scope financial services firms

2025

- The FCA reviewed firms’ approaches to outcomes monitoring over the past year and published its findings in this blog and related review material

TBD (ongoing)

- Firms are expected to continue regular monitoring, testing, and evidence-gathering on an ongoing basis under PRIN 2A.9

Compliance Impact

The FCA’s expectation is operationally significant: firms that cannot evidence outcomes monitoring, root-cause analysis, and effective remediation risk being treated as non-compliant with the Consumer Duty and exposed to supervisory escalation. Where poor outcomes persist, firms may face FCA intervention, remediation requirements, and potential enforcement action if consumer harm is serious or systemic.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance Operational Resilience / Outsourcing

BankWealth ManagerInsurance

🇬🇧 FCA News

July 27th 2026

You don't need to pay to claim: FCA launches nationwide car finance campaign

Millions of car finance customers who may be owed compensation can get help making a complaint for free, as the FCA launches a national advertising campaign. Research by the FCA found that 27% of car finance customers lack confidence to make a complaint without using a claims management company (CMC) or law firm, despite free tools from the FCA being available.Sheree Howard, executive director at the FCA, said: 'Many people who may be owed compensation aren’t sure where to start or don’t real...

Sectors:

Topics:

BankAll Firms

🇭🇰 SFC Enforcement high

July 27th 2026

SFC reprimands and fines Bright Smart Securities International (H.K.) Limited $2.8 million for internal control failures in monitoring suspicious trades

No description available.

AI Analysis

The SFC has publicly reprimanded and fined Bright Smart Securities International (H.K.) Limited (BSSIHK) HK$2.8 million for prolonged failures in its trade surveillance framework, which allowed over 1,000 pairs of client wash trades to be executed between November 2023 and September 2025. The case underscores that Hong Kong intermediaries must have **proactive, automated, and effective pre‑ and post‑trade controls** to identify and stop wash trades, and that repeated regulatory reminders without full remediation will materially aggravate sanctions risk.

What Changed

- Firms conducting Type 1, 4 or 7 regulated activities are expected to maintain both pre‑trade and post‑trade surveillance capable of detecting wash trades and other manipulative patterns, rather...
Pre‑trade interception controls that depend primarily on manual intervention (e.g. dealer intervention after alerts) are deemed inadequate where the controls allow suspicious trades to proceed until...
Surveillance logic must treat multiple suspicious trades in the same client account on the same day as separate events, rather than aggregating them into one “instance,” to ensure repeated misconduct...
Trade surveillance tools and procedures must be capable of detecting wash trades across a wide universe of instruments, including both equities and structured products such as warrants.
SFC has reaffirmed that failure to maintain adequate and effective internal controls to monitor and detect wash trades constitutes a breach of the SFC Code of Conduct and is considered contrary to...

Suggested Considerations

Review existing trade surveillance frameworks (both pre‑trade and post‑trade) to ensure they can reliably identify wash trades, including same‑account and related‑account trades with no change in beneficial ownership.
Implement or enhance automated pre‑trade controls that can detect and automatically block or hold suspected wash trades before execution, rather than relying primarily on manual dealer intervention after the fact.
Re‑design alert logic so that each suspicious wash trade or pair of trades is counted as a separate event, including multiple events in the same client account on the same day, and ensure escalation thresholds reflect this.
Calibrate surveillance parameters to cover all relevant product types, including Hong Kong‑listed stocks, warrants and other structured products commonly used by clients.
Document and update internal policies and procedures to explicitly prohibit wash trades, define wash trading typologies, and describe detection, escalation and blocking processes.

Key Dates

AI Analysis

What Changed

- The ECB has published ten shortlisted design proposals for the next series of euro banknotes, based on the themes “European culture” and “Rivers and birds.”
The ECB has opened an online public survey to gather feedback on the proposed designs.
The survey is open until 21 September 2026.
The ECB Governing Council is expected to make the final design decision around the end of 2026.
The current publication does not impose any immediate compliance obligation on firms; it is a consultation and design-selection step, not an enacted regulatory rule.

Suggested Considerations

Review the ECB consultation materials and assess whether your firm has any direct operational exposure to future euro banknote changes.
Monitor ECB and Central Bank of Ireland updates for the final design decision expected around the end of 2026.
Prepare internal stakeholder briefings for cash operations, branch operations, payments, customer service, and communications teams on the expected euro banknote redesign timeline.
If your firm accepts or processes cash, begin a preliminary review of any systems, controls, or vendor dependencies that could be affected by future note specifications, authentication features, or rollout timing.
Update external messaging and FAQs only after the ECB publishes the final banknote design and implementation details.

Key Dates

End of 2026

- The ECB Governing Council is expected to make the final decision on the new banknote design

23 July 2026

- The Central Bank of Ireland publishes the press release encouraging public participation in the ECB consultation

21 September 2026

- The public survey on the shortlisted euro banknote designs closes

Compliance Impact

The immediate compliance impact is low, because this is a consultation and not a binding regulatory requirement. The practical impact may become medium later if the ECB’s final decision triggers operational changes for cash-handling, customer communications, ATM calibration, or banknote lifecycle controls.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

Topics:

BankPayment ProviderAll Firms

🇬🇧 BoE News

July 23rd 2026

Letter from the Governor to the Daily Mail

Letter from Governor Andrew Bailey to the Daily Mail on the subject of AI and cyber-attacks

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankAll Firms

🇮🇪 CBI Consultation medium

July 23rd 2026

ECB reveals shortlisted designs for new banknotes and launches public survey

ECB unveils ten shortlisted design proposals for next series of euro banknotes Europeans invited to have their say in online survey open until 21 September Governing Council expected to select one design proposal around the end of the year The European Central Bank (ECB) today unveiled the shortlisted design proposals for the next series of euro banknotes and launched a public survey inviting people across Europe to provide their feedback. These design proposals are based on two different the...

AI Analysis

The ECB has unveiled ten shortlisted design proposals for the next series of euro banknotes and launched an EU‑wide public survey running to 21 September 2026, ahead of a Governing Council decision on the final design around end‑2026. This is the first full redesign since 2002 and will introduce new security, accessibility and environmental features, requiring bank, payments and cash‑handling firms to plan for operational, technical and customer‑facing changes to cash handling, processing and authentication.

What Changed

- The ECB has published ten shortlisted design proposals for the next series of euro banknotes, based on the two themes “European culture” and “Rivers and birds”.
An EU‑wide online public survey has been launched to collect feedback on the shortlisted designs, forming part of the ECB’s inclusive approach to banknote design.
The ECB’s Governing Council will select a single design proposal around the end of 2026, informed by the Design Contest Jury conclusions, technical assessments and survey results.
The chosen design will undergo further development and testing before production, including integration of new and improved security features.
The new series of euro banknotes will be introduced into circulation in subsequent years, alongside existing series, which will retain their legal value and continue to circulate.

Suggested Considerations

Establish an internal project workstream to monitor ECB communications on the banknote redesign and plan for operational impacts on cash handling, ATM networks and merchant devices.
Conduct a preliminary impact assessment of how new banknote security and design features may affect existing banknote sorting, authentication and recycling equipment, and identify likely upgrade or replacement needs.
Engage with ATM and cash‑handling hardware vendors to understand expected firmware, sensor and software changes required to support the new banknote series and to secure upgrade slots ahead of issuance.
Review and update internal cash‑handling and banknote authentication procedures, including staff training materials, to incorporate new design and security features once technical specifications are published.
Plan customer communications strategies to explain the coexistence of old and new series banknotes, reaffirm the continued validity of previous series, and address any fraud or counterfeiting concerns.

Key Dates

Late 2026

- Expected Governing Council decision on the final design proposal for the new euro banknote series

Subsequent years (post‑2026)

- Progressive introduction of new‑series euro banknotes into circulation, co‑circulating with existing series which retain value

21 September 2026

- Closure of the ECB public online survey on the ten shortlisted euro banknote design proposals

Compliance Impact

Non‑compliance will primarily manifest as operational and conduct risk rather than direct regulatory sanction at this stage, but inadequate preparation could lead to service disruption, increased counterfeit losses, customer detriment and potential supervisory scrutiny over firms’ cash‑handling controls. Early engagement and orderly implementation will be important for banks and payment providers with large cash footprints or critical ATM networks.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Operational Resilience / Outsourcing Technology & Cyber Consumer Protection / Conduct

Topics:

BankPayment ProviderFintech

Banking & Credit Crypto & Digital Assets Payments & E-Money

🇩🇪 BaFin News

July 23rd 2026

allenbygroup(.)com: Bafin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website allenbygroup(.)com. According to information available to Bafin, the operators are offering financial services on the website without the required authorisation.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

All Firms

🇮🇪 CBI Enforcement high

July 23rd 2026

Bates Finance Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Bates Finance Limited (CLONE) Website https://www.batesfinance.co.uk/ Email addresses used info@batesfinance.co.uk Phone number used 0124 594 4391 Authorisation in Ireland Bates Finance Limited (CLONE) is not authorised to provide investment services in Ireland. This unauthorised firm has cloned the details of authorised firm to pass itself off as legitimate to deceive consumers. There is no connection bet...

AI Analysis

The Central Bank of Ireland has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **“Bates Finance Limited (CLONE)”**, an unauthorised investment firm that is cloning a legitimate authorised firm’s details to deceive consumers. This reinforces the requirement for compliance teams to maintain robust controls around firm impersonation, customer communications, and verification of authorisation status, especially for cross‑border investment services offered into Ireland.

What Changed

- The Central Bank of Ireland has formally identified “Bates Finance Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details (name, website, email,...
The warning explicitly states that Bates Finance Limited (CLONE) is not authorised to provide investment services in Ireland and is cloning an authorised firm’s details to pass itself off as...
The Central Bank confirms that there is no connection between the legitimate authorised firm and the cloned entity using its name.
The firm’s name is published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, reaffirming the Central Bank’s enforcement power to publicly name unauthorised providers.
The warning reiterates channels for reporting suspected unauthorised firms to the Central Bank (telephone and online reporting), reinforcing expectations that firms and individuals will escalate...

Suggested Considerations

Monitor the Central Bank of Ireland’s unauthorised firms and warning notices on an ongoing basis and promptly update internal watchlists, sanctions‑style lists, and fraud‑monitoring tools to include Bates Finance Limited (CLONE).
Update customer‑facing communications, scam warnings, and investor education materials to reference clone firms and instruct clients to verify authorisation using the Central Bank’s Registers before engaging with any investment firm.
Review and strengthen controls for detecting and responding to clone firm activity, including monitoring for misuse of the firm’s name, logo, Companies Registration Office number, or website domain in Ireland and other jurisdictions.
Implement procedures to immediately escalate to the Central Bank and law enforcement (e.g. An Garda Síochána) if the firm becomes aware that its identity is being cloned or if clients are approached by Bates Finance Limited (CLONE) or similar unauthorised entities.
Enhance due‑diligence and onboarding checks to validate counterparties and intermediaries offering investment products into Ireland, ensuring they hold appropriate authorisation from the Central Bank or relevant EU/EEA regulators.

Key Dates

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇩🇪 BaFin Warning high

July 23rd 2026

rkr-epsilon(.)com: Bafin warns about unauthorised pre-IPO stock offerings and identity fraud

The German Financial Supervisory Authority (Bafin) warns about offers on the website rkr-epsilon(.)com. According to information available to Bafin, the unknown operators are providing financial and investment services on these websites without the required authorisation.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

All Firms

Banking & Credit Capital Markets & Trading Investment Management

🇦🇪 ADGM News

July 23rd 2026

Credit institutions and investment firms are no longer permitted to accept payments or non-monetary benefits from third parties in return for forwarding client orders. The Federal Financial Supervisory Authority (Bafin) makes this clear in a new supervisory statement.

AI Analysis

BaFin’s new supervisory statement confirms that, as of 1 July 2026, credit institutions and investment firms in Germany are **prohibited from accepting any monetary or non‑monetary benefits from third parties in return for forwarding client orders** (PFOF), aligning German practice with the EU‑wide ban under revised MiFIR. This is a structural shift for neobroker and low‑fee brokerage business models, with immediate implications for remuneration structures, best‑execution frameworks, conflict‑of‑interest management, and client disclosures.

What Changed

- Credit institutions and investment firms are no longer permitted to accept payments, fees, commissions or non‑monetary benefits from third parties (e.g.
The prohibition applies to the forwarding of both retail and professional client orders and covers any form of economic benefit linked to routing orders to a specific counterparty or venue.
Germany’s previous use of the MiFIR national exemption for domestic clients has ended; there is no longer any national carve‑out for PFOF in relation to clients resident or established in Germany.
BaFin’s supervisory statement specifies how firms must interpret and apply the EU‑level PFOF ban in practice, including alignment with ESMA’s interpretative decisions on the scope of prohibited...
The stated regulatory objective is to improve the quality of client order execution and prevent conflicts of interest arising from execution venues or market makers incentivising brokers to route...

Suggested Considerations

Identify and map all current remuneration streams linked to order routing, including explicit PFOF arrangements, volume‑based rebates, and other benefits from market makers or venues, and cease any arrangements that constitute PFOF or similar third‑party inducements for forwarding orders.
Review and update MiFID II / MiFIR inducement policies to explicitly classify PFOF and similar execution‑related rebates as prohibited benefits, ensuring no reliance on inducement disclosure or quality‑enhancement arguments to justify them.
Amend best‑execution policies and procedures to remove any consideration of third‑party payments from venues or market makers in the execution‑venue selection process and to emphasise price, cost, speed, likelihood of execution, and other MiFID II best‑execution factors.
Conduct a conflicts‑of‑interest assessment to identify any residual incentives or arrangements that could compromise the duty to act in the best interests of clients in order routing, and implement mitigation measures or remove such conflicts where necessary.
Redesign pricing and revenue models for neobroker and low‑fee brokerage services to replace PFOF‑funded “zero‑commission” offerings with compliant alternatives, such as explicit commissions, spreads, subscription fees, or other transparent charges.

Key Dates

28 March 2024

- EU‑level PFOF prohibition under revised MiFIR enters into force, generally banning payment for order flow in the EU, subject to transitional national exemptions

30 June 2026

- German national exemption allowing PFOF for orders from in‑country clients to in‑country firms expires; after this date no new orders may rely on the exemption

01 July 2026

- Full application of the PFOF ban to German clients and German‑authorised firms; credit institutions and investment firms are prohibited from accepting any third‑party payments or benefits for forwarding client orders, and BaFin’s supervisory statement takes practical effect

22 July 2026

- BaFin publishes its supervisory statement specifying rules for neobrokers and other firms on how to comply with the PFOF ban and explaining ESMA’s interpretative decisions and consumer impacts

Compliance Impact

Non‑compliance with the PFOF ban exposes firms to BaFin enforcement action, including fines, supervisory measures, potential restrictions on business activities, and reputational damage, particularly where conflicts of interest and client detriment are identified. Given the structural role of PFOF in many neobroker models, failure to adapt business practices and remuneration structures promptly can also threaten the economic viability of affected firms.

References

AI-generated analysis. May contain errors or omissions — verify with the original BaFin source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerFintech

🇱🇺 CSSF Guidance high

July 22nd 2026

Circular CSSF 21/783 (outdated)

No description available.

AI Analysis

ESMA has withdrawn its MiFID II/MiFIR market data Guidelines because their subject matter has been transposed into Commission Delegated Regulation (EU) 2025/1156 on the obligation to make market data available on a reasonable commercial basis. As a result, CSSF Circular 21/783, which implemented those ESMA Guidelines in Luxembourg supervisory practice, will become formally outdated from 23 August 2026, requiring MiFID firms and trading venues to ensure their policies and commercial terms now fully align with the directly applicable RTS in the Delegated Regulation.

What Changed

- CSSF Circular 21/783, which applied ESMA’s Guidelines on MiFID II/MiFIR obligations on market data in Luxembourg, will cease to be applicable as of 23 August 2026 and is formally classified as...
The supervisory reference framework for market data obligations in Luxembourg shifts from ESMA soft-law Guidelines to binding regulatory technical standards contained in Commission Delegated...
Requirements on making market data available to the public on a “reasonable commercial basis” are now set out in directly applicable EU law, including detailed RTS criteria on cost-based pricing,...
ESMA’s interpretative role via Guidelines is replaced by binding RTS, which reduces reliance on national circulars and increases harmonisation of market data rules across EU trading venues and data...
Luxembourg firms can no longer rely on Circular 21/783 as the primary interpretative document for market data obligations; instead, their compliance frameworks must directly reference Delegated...

Suggested Considerations

Identify and catalogue all internal policies, procedures, contractual templates, and pricing frameworks that reference CSSF Circular 21/783 or ESMA’s MiFID II/MiFIR market data Guidelines.
Review Commission Delegated Regulation (EU) 2025/1156 in detail and map its RTS requirements (e.g. cost-based pricing, non-discriminatory access, data unbundling, publication formats) against current market data practices.
Update market data pricing policies to ensure that fees are demonstrably based on reasonable commercial basis criteria defined in Delegated Regulation (EU) 2025/1156, including documentation of cost allocation and margin methodology.
Revise market data access policies and client terms to ensure non‑discriminatory conditions and appropriate unbundling of pre‑trade and post‑trade data, in line with the RTS.
Amend compliance manuals, MiFID/MiFIR control frameworks, and training materials to remove references to CSSF Circular 21/783 and ESMA Guidelines, replacing them with references to Delegated Regulation (EU) 2025/1156.

Key Dates

12 June 2025

- Commission Delegated Regulation (EU) 2025/1156 is adopted, supplementing MiFIR with RTS on the obligation to make market data available to the public on a reasonable commercial basis

23 August 2026

- ESMA Guidelines on MiFID II/MiFIR market data obligations are withdrawn; CSSF Circular 21/783, which incorporated these Guidelines into CSSF administrative practice, becomes outdated from this date

Compliance Impact

Non-compliance will now be assessed directly against binding RTS under Delegated Regulation (EU) 2025/1156, increasing enforcement risk if market data is priced or provided on terms that are not objectively “reasonable” or non‑discriminatory. Firms that fail to adapt their frameworks by 23 August 2026 risk supervisory findings, potential sanctions, and challenges to their market data commercial models.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Consumer Protection / Conduct

Topics:

Broker DealerBankAsset Manager

🇮🇪 CBI Enforcement medium

July 22nd 2026

Central Bank appoints external reviewer for independent review of its enforcement activities

Central Bank of Ireland has commissioned an independent review of its enforcement activities. Enforcement is a core component of the Central Bank's regulatory framework. It supports credible deterrence and accountability, promotes high standards of conduct and, through transparent outcomes, supports trust and confidence in the financial system. The financial system has become larger, more complex and more interconnected over the last decade. The regulatory and legislative framework has also e...

AI Analysis

The Central Bank of Ireland (CBI) has appointed Josephine Feehily as an external reviewer to conduct an independent review of the **effectiveness, efficiency and positioning of CBI’s enforcement activities within its supervisory framework**, with a report (including recommendations) to be published in due course. This signals a potential medium-term recalibration of enforcement strategy, case selection, timelines and transparency, and compliance teams should anticipate possible changes to how investigations are initiated, managed and resolved, including expectations around engagement and disclosure.

What Changed

- The CBI has formally commissioned an independent review of its enforcement activities, covering both how enforcement is structured and how it operates in practice, rather than a narrow thematic or...
The review mandate expressly covers the performance of enforcement activities and the role of enforcement within the wider supervisory framework, indicating that enforcement may be repositioned...
The review will examine enforcement structures and processes, including decision‑making governance, which may result in new approval routes, escalation paths, or committee structures for opening,...
The review will look at case‑selection criteria and processes, suggesting potential future changes to how and why firms or individuals are selected for enforcement action, and possibly the...
Timeliness of enforcement actions is in scope, which may lead to explicit timelines or service standards for case progression, investigation milestones, and resolution, with potential knock‑on...

Suggested Considerations

Review and document your enforcement‑facing governance, including Board and senior management oversight of investigations, decision‑making on settlement, and escalation paths, to ensure these are robust and can withstand a more structured or time‑bound enforcement approach.
Assess whether your record‑keeping, data, and management information relating to regulatory breaches, incidents, and CBI interactions are sufficiently complete and organised to support faster and more transparent enforcement processes.
Conduct a gap analysis of investigation procedures and response playbooks (e.g. dawn raid readiness, information requests, interviews, internal investigations) to ensure they can meet potentially tighter CBI timeliness and information‑quality expectations.
Update Board and senior management on the launch of the enforcement review and agree a watching brief, including designation of a responsible function (e.g. Compliance or Legal) to monitor the review, its terms of reference, stakeholder engagements and eventual recommendations.
Engage external counsel or industry associations, as appropriate, to prepare for possible consultation or stakeholder engagement opportunities during the review, including developing key messages on proportionality, timeliness, transparency and coordination with supervision.

Key Dates

AI Analysis

AFM and AMF have issued a joint position paper supporting the EU Commission’s Market Integration and Supervision Package (MISP) and setting out **five enablers** they see as conditions for effective, centralised EU‑level supervision by ESMA. This matters for compliance teams because it signals a medium‑term shift towards more **risk‑based, data‑driven, and ESMA‑centric supervision**, with impacts on funding models, governance expectations, data and reporting architecture, and enforcement across all major EU capital‑markets activities.

What Changed

- ESMA is explicitly positioned as the central supervisory authority for selected capital‑markets activities, with national competent authorities (NCAs) expected to operate within a more formalised...
Supervisory objectives are reframed towards risk‑based and adaptive supervision, meaning firms should expect more differentiated supervisory intensity based on risk profile, business model, and...
The paper supports proportionate and transparent funding for ESMA, indicating a future where firms may be subject to EU‑level supervisory levies or fee structures in addition to national regimes,...
AFM and AMF call for independent, transparent, and accountable EU‑level supervisory governance, foreshadowing changes to ESMA’s decision‑making bodies, oversight processes, and accountability...
Data centralisation is identified as a core enabler, implying a stronger move towards EU‑wide data hubs, harmonised reporting formats, and central access for ESMA to transaction, position, and...

Suggested Considerations

Review and update the firm’s supervisory engagement strategy to include structured, proactive engagement with ESMA (not just NCAs), anticipating more direct interactions, thematic reviews, and data requests at EU level.
Assess current risk‑assessment and risk‑reporting frameworks to ensure they are compatible with a risk‑based and adaptive supervisory approach, including the ability to demonstrate how your firm identifies, measures, and mitigates emerging risks and new business models.
Conduct a gap analysis of data architecture and regulatory reporting, focusing on data quality, standardisation, and ability to feed into centralised EU data hubs; plan upgrades to systems, controls, and data governance to support ESMA‑level data centralisation.
Prepare for potential changes in supervisory levies and funding, by modelling the impact of EU‑level ESMA fees in addition to national contributions and incorporating them into medium‑term budgeting and pricing strategies.
Review governance arrangements, including board oversight, senior management responsibilities, and internal escalation processes, to ensure they can meet higher expectations of independent, transparent, and accountable governance under an ESMA‑centric model.

Key Dates

What Changed

- Article 8 funds must describe how the investment strategy actually enables the fund to meet the environmental and/or social characteristics disclosed to investors.
If an Article 8 fund relies mainly on an exclusion strategy, the CSSF expects the exclusion policy to be detailed enough for investors to understand how the stated characteristics are being met.
Article 9 funds cannot rely only on an exclusion strategy; they must invest in sustainable investments and use a positive selection process that demonstrates alignment with Article 2(17) SFDR.
For Article 9 funds, the CSSF expects sustainable-investment status to be maintained at all times, including on an ongoing basis during the life cycle of the fund.
Financial market participants should make available the methodology used to determine whether an investment is a sustainable investment, including any thresholds used for a pass-fail approach.

Suggested Considerations

Review all Article 8 pre-contractual disclosures to confirm that the stated investment strategy clearly explains how the fund’s environmental or social characteristics are achieved.
Strengthen any Article 8 exclusion-based strategy disclosures so they provide sufficient detail for investors to understand the connection between exclusions and the claimed sustainability characteristics.
Reassess all Article 9 product classifications to confirm that the portfolio is built around qualifying sustainable investments, not only exclusions.
Implement controls to verify that Article 9 holdings remain aligned with Article 2(17) SFDR on an ongoing basis throughout the fund lifecycle.
Document and retain the internal methodology used to assess sustainable-investment status, including any thresholds, and ensure it can be provided to investors or supervisors upon request.

Key Dates

02 December 2022

- CSSF published the SFDR FAQ clarifying supervisory expectations for Article 8 and Article 9 disclosures

01 January 2023 DEADLINE

- UCITS and AIFs disclosing under Article 8 or Article 9 must use the SFDR RTS periodic reporting templates in annual reports issued after this date

Compliance Impact

Non-compliance can lead to supervisory scrutiny, requests for remediation, and potential reclassification risk if a product cannot substantiate its Article 8 or Article 9 claims. The practical consequence is heightened greenwashing exposure and the possibility that disclosure changes may need formal review or authorisation before implementation.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

ESG Reporting & Disclosure Senior Managers / Governance

Topics:

Asset ManagerBankAll Firms

🇩🇪 BaFin News

July 20th 2026

whitelake-invest(.)de: Bafin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website whitelake-invest(.)de. Bafin suspects the unknown operators of the website of offering consumers financial and investment services without the required authorisation.

Sectors:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

Topics:

All Firms

Banking & Credit Investment Management Capital Markets & Trading

🇨🇭 FINMA Enforcement high

July 20th 2026

Aktualisierte Sanktionsmeldung: Demokratische Republik Kongo

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs 1 der Verordnung vom 22. Juni 2005 über Massnahmen gegenüber der Demokratischen Republik Kongo (SR 946.231.12) publiziert.

AI Analysis

FINMA is notifying the Swiss market that the UN sanctions committee changed the Democratic Republic of Congo sanctions list on **16 July 2026**, and Switzerland applied the update directly after SECO updated SESAM on **17 July 2026**. For compliance teams, this means sanctions screening, asset-freeze controls, and relationship monitoring had to be refreshed immediately because the Swiss measure takes effect without additional domestic delay.

What Changed

- The UN sanctions committee amended the list of sanctioned individuals, companies, and organizations relating to the Democratic Republic of Congo on 16 July 2026.
The change is directly applicable in Switzerland, so firms cannot wait for a separate Swiss implementing act before acting on the updated list.
SECO updated the Swiss sanctions database SESAM on 17 July 2026 and published the update on its website.
Financial intermediaries must implement the prohibitions set out in the ordinance, including freezing the assets of sanctioned persons.
Financial intermediaries must report the affected business relationships to SECO.

Suggested Considerations

Review sanctions screening results immediately against the updated Congo-related list in SESAM and any internal watchlists to identify matching clients, counterparties, and beneficial owners.
Freeze assets and block prohibited dealings involving newly designated persons, companies, or organizations as required by the ordinance.
Report affected business relationships to SECO in line with the sanctions ordinance requirements.
Perform enhanced internal clarifications under Article 6 GwG/AMLA whenever a sanctions hit or other red flags create suspicion.
File an immediate suspicious activity report with the Money Laundering Reporting Office under Article 9 GwG/AMLA if doubts cannot be resolved.

Key Dates

Joint Board of Appeal dismisses appeal against the EBA 16 July 2026 Board of Appeal The Joint Board of Appeal of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) has issued a decision stating that an appeal brought by an individual against the European Banking Authority (EBA) is inadmissible. The appeal concerned a response by the EBA to a complaint regarding the closure of a bank account by a credit institution and the handling of the matter by the Finnish National Compe...

AI Analysis

The Joint Board of Appeal of the ESAs has dismissed as inadmissible an individual’s appeal against the EBA’s decision not to open a breach‑of‑Union‑law investigation into the Finnish supervisory authority’s handling of a bank account closure. This confirms that EBA’s decision whether to initiate a Union law breach investigation is a discretionary act that is not reviewable by the Board of Appeal and, in practice, offers very limited avenues for customers or firms to challenge an EBA non‑investigation decision. For compliance teams, this reinforces that supervisory recourse routes for disputes over account closures and similar conduct are primarily at national level and in national courts, with EBA’s Article 17 “breach of Union law” mechanism remaining a high‑threshold, discretionary tool rather than a complaint or appeal channel.

What Changed

- The decision clarifies that EBA’s decision whether or not to initiate an investigation into a possible breach or non‑application of Union law under Article 17 of Regulation (EU) No 1093/2010 is a...
The Board of Appeal confirms that a decision not to open a Union law breach investigation does not constitute a reviewable “decision” for the purposes of Article 60(1)–(2) of the ESA Regulations and...
The Board of Appeal confirms that individual complaints about account closures and associated supervisory handling remain primarily within the remit of national competent authorities and national...
The decision reiterates that only certain categories of ESA acts that produce binding legal effects (for example, decisions adopted under Articles 17, 18 or 19 of the ESA Regulations, and acts within...
The outcome aligns with prior Board of Appeal and EU court case law confirming that persons outside the specific categories listed in Article 17(2) of the ESA Regulations have no right of appeal to...

Suggested Considerations

Review internal complaints‑handling and escalation procedures to ensure that disputes over account closures and related supervisory decisions are managed through national complaint bodies and courts, rather than assuming EBA or Board of Appeal review will be available.
Update legal and compliance guidance notes to reflect that EBA’s decision whether to initiate a breach‑of‑Union‑law investigation is discretionary and generally not subject to appeal before the Board of Appeal, limiting external escalation avenues.
Train front‑office, customer‑service and complaints staff to provide accurate information to customers about available redress routes, emphasising national ombudsman, national competent authority and judicial mechanisms rather than ESMA/EBA appeals.
For groups operating across the EU, map national complaint and judicial mechanisms for account closures in each jurisdiction and integrate them into group‑wide conduct risk frameworks and customer communication templates.
Monitor further ESA and EU court case law on which ESA acts are susceptible to appeal before the Board of Appeal, and adjust litigation and escalation strategies accordingly.

Key Dates

Topics:

Authorisation & Licensing Senior Managers / Governance Reporting & Disclosure

All Firms

Banking & Credit Capital Markets & Trading Investment Management

🇦🇪 ADGM News

July 16th 2026

16 Jul 2026 Read more

Sectors:

Topics:

Authorisation & Licensing Technology & Cyber Senior Managers / Governance

All Firms

Capital Markets & Trading Banking & Credit Investment Management

🇮🇪 CBI Enforcement high

July 15th 2026

Opening Statement by Governor of Central Bank of Ireland Gabriel Makhlouf, at the Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Cathaoirleach and Committee members, thank you for the invitation to be here today. I am joined by my colleagues Deputy Governor for Monetary and Financial Stability, Vasileios Madouros, and Colm Kincaid, Deputy Governor for Consumer and Investor Protection. The Economic Outlook Let me begin with the economic outlook. The global economy continues to face challenges and heightened uncertainty from the Middle East conflict and the disruption in the Strait of Hormuz, with implications for energy...

AI Analysis

The Central Bank of Ireland (CBI) Governor used this Oireachtas hearing to restate that the CBI will act only within its statutory mandate on prospectus approval, while also signalling that the EU Prospectus Regulation framework has changed materially since 5 June 2026 because of Regulation (EU) 2024/2809. For compliance teams, the key point is that prospectus-related processes, disclosures, and approval planning should now be reviewed against the amended EU regime and the CBI’s existing approval timetable requirements, including the 90 working day decision rule for non-SME prospectuses and 100 working day rule for SMEs.

What Changed

- Regulation (EU) 2024/2809 amends elements of the Prospectus Regulation, and those amendments fully took effect on 5 June 2026.
The Prospectus Regulation continues to apply as the core EU framework for prospectuses, with the CBI acting as the competent authority in Ireland for approval matters.
The CBI states that it must decide on a prospectus application within 90 working days of receipt of the initial application, or 100 working days for an SME.
If the review exceeds the applicable working-day limit, the CBI will cease reviewing the prospectus without approving it and will notify the issuer, offeror, or person seeking admission to trading.
A one-off extension of 30 working days may be requested before the original 90 working-day period lapses, including for SMEs.

Suggested Considerations

Review all prospectus templates, disclosure checklists, and approval workflows against the amended Prospectus Regulation provisions that became fully applicable on 5 June 2026.
Reassess transaction timetables to ensure the planned filing date allows for the 90 working day or 100 working day CBI review window, plus any needed extension request.
Submit any request for a one-off 30 working day extension before the original approval period expires, and include the required reference details in the request.
Confirm whether any current or planned issuance qualifies as an SME transaction, because the approval deadline differs from the standard timetable.
Update internal sign-off procedures so legal, finance, and compliance teams can demonstrate that prospectus materials are prepared in line with the CBI’s statutory mandate and the amended EU framework.

Key Dates

20 July 2017

- The Prospectus Regulation entered into force at EU level

21 July 2019

- The Prospectus Regulation fully applied, and Ireland’s implementing regulations for the regime came into operation

31 March 2022

- New Irish Central Bank fee regulations for prospectus and related document approvals came into operation

7 March 2024

- The Central Bank’s revised Prospectus Regulatory Framework Q&A was published, updating operational guidance on approval, publication, and passporting matters

11 March 2024

- GEM rule amendments took effect for certain retail debt securities listings, providing related market infrastructure context

Compliance Impact

Non-compliance risk is high because a failed or delayed prospectus approval can block issuance, delay admission to trading, and disrupt capital raising. Firms also face execution and disclosure risk if they do not align their documentation and timetables to the amended EU regime and the CBI’s approval mechanics.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

BankBroker DealerAsset Manager

🇬🇧 BoE Speech

July 15th 2026

The role of research in Prudential Regulation − speech by David Bailey

Given at IFABS 2026 London

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

Topics:

BankInsurance

🇪🇺 ECB Guidance high

July 15th 2026

ECB clarification on ICAAPs and ILAAPs and respective package submissions

No description available.

AI Analysis

On 10 February 2025, the ECB published a clarification paper tightening expectations on ICAAP and ILAAP design and, critically, on how and when related information must be submitted in the SREP cycle. The core compliance impact is a shorter annual submission deadline, a two‑step (annual plus continuous) reporting model, and more formalised governance, forward‑looking planning, and capital distribution expectations that must be demonstrably embedded in banks’ ICAAP/ILAAP frameworks and Board‑level oversight.

What Changed

- Introduced a two‑step ICAAP/ILAAP submission model under the SREP: (1) annual submission of the main “ICAAP & ILAAP package” by 15 March and (2) continuous, year‑round submission of any new or...
Shortened the standard annual deadline for ICAAP/ILAAP information from 31 March to 15 March, reducing the preparation and governance window by roughly two weeks versus prior practice.
Confirmed that the clarifications apply from the SREP 2025 cycle onwards, with a general transition approach for 2025 and limited transitional flexibilities for banks whose internal processes cannot...
Required inclusion of two distinct, concise documents within the annual packages: a “Capital Adequacy Statement” and a “Liquidity Adequacy Statement” reflecting the management body’s formal view on...
Clarified governance expectations around capital and liquidity planning, including regular updates of governance frameworks to reflect external conditions and the submission of a complete risk...

Suggested Considerations

Review existing ICAAP and ILAAP submission calendars and internal governance timelines and formally reset them to ensure core packages can be prepared, approved by the management body, and submitted by 15 March each year.
Design and implement a documented two‑step submission process, including procedures for continuous, year‑round identification, approval and transmission to the ECB of any new or materially updated ICAAP/ILAAP‑relevant documents.
Develop, approve and embed the new Capital Adequacy Statement and Liquidity Adequacy Statement, ensuring they reflect the management body’s signed‑off view on adequacy and are supported by clear references to ICAAP/ILAAP analyses and results.
Update ICAAP and ILAAP governance frameworks to reflect ECB expectations, including explicit roles and responsibilities, escalation paths, periodic reviews triggered by external developments, and Board‑level oversight of capital and liquidity planning.
Compile and maintain a comprehensive risk inventory covering both normative and economic perspectives, and ensure it is aligned with business models, risk appetite frameworks, recovery plans, stress testing programmes and SREP submissions.

Key Dates

15 March (annually from 2025 onward) DEADLINE

- Recurring annual deadline for submission of the core ICAAP and ILAAP packages, including the Capital Adequacy Statement, Liquidity Adequacy Statement, risk inventory, stress testing information and liquidity stressed assumptions template

10 February 2025

Consultation paper 10/26

AI Analysis

The PRA’s CP10/26 proposes to delete the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part of the PRA Rulebook and make consequential amendments, effectively shifting continuity‑of‑services expectations for ring‑fenced bodies onto the broader operational continuity / resolution framework. For compliance teams, this is a material rationalisation of overlapping rule sets that will require careful mapping of existing ring‑fencing service‑continuity controls into the PRA’s operational continuity and resilience expectations, and engagement with the consultation by the response deadline.

What Changed

- The PRA proposes to delete in full the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part of the PRA Rulebook, removing the specific ring‑fencing continuity‑of‑services...
The PRA will make consequential amendments to the Ring‑fenced Bodies Part to remove or adjust cross‑references, defined terms and obligations that are linked to the deleted Continuity of Provision of...
The proposal effectively retires the bespoke continuity‑of‑services construct that was introduced when ring‑fencing was implemented (including detailed constraints on termination, suspension or...
The consultation paper explains how the PRA intends to align ring‑fenced bodies’ continuity‑of‑services expectations with existing supervisory statements on operational continuity in resolution (for...
The PRA invites stakeholders to comment on whether deleting the Continuity of Provision of Services Chapter, and relying on the broader operational continuity regime, still adequately protects the...

Suggested Considerations

Assess the current use of the Continuity of Provision of Services Chapter in the Ring‑fenced Bodies Part within your firm’s ring‑fencing policies, procedures, contracts and governance, and identify all controls that explicitly rely on those rules.
Prepare and submit a considered response to CP10/26 by 14 October 2026, addressing the practical impact of deleting the Continuity of Provision of Services Chapter, any residual areas of concern, and suggestions for guidance or transitional arrangements.
Coordinate with group entities acting as permitted suppliers or critical service providers to ensure their OCIR documentation, service catalogues, TSAs and liquidity arrangements remain aligned with the ring‑fenced body’s continuity requirements in the absence of the deleted chapter.
Monitor for the subsequent PRA policy statement that will follow CP10/26, and be prepared to implement any final rule changes, transitional provisions or clarifications on how ring‑fencing continuity expectations intersect with OCIR and operational resilience regimes.

Key Dates

14 October 2026 DEADLINE

- Deadline for submitting responses to PRA Consultation Paper CP10/26 on the deletion of the Continuity of Provision of Services Chapter and related changes to the Ring‑fenced Bodies Part

Compliance Impact

Non‑compliance would primarily manifest as weaknesses in the continuity of core services and intra‑group service arrangements rather than direct breaches of the deleted rules, potentially leading to PRA supervisory findings, remediation requirements and heightened capital or resolvability expectations. Failure to realign ring‑fencing continuity controls with the PRA’s operational continuity and resilience framework could also impact resolvability assessments and increase the risk of adverse supervisory interventions in stress or resolution.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

Topics:

BankWealth ManagerAll Firms

🇬🇧 PRA Policy high

July 14th 2026

PS16/26 – PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime

Policy statement 16/26

AI Analysis

PRA Policy Statement PS16/26 finalises rule changes across multiple CRR-related parts of the PRA Rulebook and Pillar 2 materials to align UK prudential rules with HM Treasury’s new Overseas Prudential Requirements Regime (OPRR), effective 1 January 2027. The changes are primarily technical and clarificatory but have direct implications for how UK banks and PRA-designated investment firms treat and report overseas exposures, including institutions, public sector entities, covered bonds, and large exposures, once CRR equivalence provisions are replaced by the OPRR.

What Changed

- The PRA Rulebook is amended across core CRR Parts (including Glossary, Credit Risk – General Provisions, Standardised Approach, IRB, Credit Risk Mitigation, Securitisation, Counterparty Credit...
Definitions of key exposure classes (such as “institution”, “credit institution”, “designated investment firm”, “central government”, “central bank”, “regional government”, “local authority”, “public...
Under the Standardised Approach to credit risk, the treatment of exposures to overseas credit institutions and designated investment firms is aligned to OPRR designations so that favourable...
The PRA restates and preserves the 100% risk-weight requirement for exposures to overseas public sector entities (PSEs) in non-designated (non‑equivalent) jurisdictions, maintaining alignment with...
Large Exposures rules are amended so that exposures to overseas credit institutions and investment firms qualify as “institution” exposures only where HM Treasury has determined the jurisdiction’s...

Suggested Considerations

Review and update internal capital models and Standardised Approach calculations for credit risk to ensure the classification and risk‑weighting of overseas exposures reflect the new OPRR‑linked definitions (e.g. treatment as “institutions” versus “corporates”) from 01 January 2027.
Update ICAAP methodologies, risk appetite statements, and SREP documentation (including for SDDTs) to reflect the continued 100% risk weight for overseas public sector entities in non‑designated jurisdictions and any changes to the treatment of overseas covered bonds, institutions, and exchanges.
Amend Pillar 2 reporting processes and templates, including FSA076 Pillar 2 Credit Risk Standardised Approach returns, to align data capture and reporting with the revised definitions, risk weights, and categorisation of overseas exposures under the PRA’s updated Rulebook and Statements of Policy.

Key Dates

Early July 2026

Sectors:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

Topics:

Wealth ManagerAsset Manager

🇨🇭 FINMA News

July 14th 2026

Aktualisierte Sanktionsmeldung: ISIL (Da'esh) und Al-Kaida

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08), publiziert.

Sectors:

Topics:

All Firms

🇱🇺 CSSF News

July 13th 2026

DEA notification template

No description available.

Sectors:

Topics:

All Firms

🇱🇺 CSSF News

July 13th 2026

DPE notification template

No description available.

Sectors:

Topics:

All Firms

Payments & E-Money Crypto & Digital Assets Banking & Credit

🇯🇵 JFSA News

July 13th 2026

Others,Updated: FinTech Support Desk

No description available.

Sectors:

Topics:

Authorisation & Licensing AML / Financial Crime Technology & Cyber

FintechCrypto ExchangePayment Provider

🇬🇧 BoE Speech

July 13th 2026

Testing times require time for testing − speech by Ruth Smith

Given at UK Finance

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Payments & E-Money

🇱🇺 CSSF News

July 13th 2026

Council Implementing Regulation (EU) 2026/1710 of 13 July 2026

implementing Regulation (EU) 2024/2642 concerning restrictive measures in view of Russia’s destabilising activities

Sectors:

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇱🇺 CSSF News

July 13th 2026

Council Implementing Regulation (EU) 2026/1708 of 13 July 2026

implementing Regulation (EU) 2024/1485 concerning restrictive measures in view of the situation in Russia

Sectors:

Topics:

All Firms

🇮🇪 CBI Speech

July 13th 2026

Governor’s Pre-Budget Letter Published

Central Bank of Ireland has today (13 July) published the annual letter from Governor Gabriel Makhlouf to the Tánaiste and Minister for Finance ahead of Budget 2027. In his letter, the Governor underscores the importance of building economic resilience in the face of heightened global uncertainty and structural economic transitions. He highlights the need to prioritise five key areas: Growing the supply-side capacity of the economy, particularly housing, transport, energy and water infrastruc...

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

All Firms

🇦🇺 ASIC News

July 13th 2026

Deutsche Bank pays $2 million penalty for systemic trade reporting failures

Sectors:

Reporting & Disclosure Market Abuse / Surveillance

Topics:

Bank

🇦🇺 ASIC News

July 13th 2026

ASIC disqualifies Queensland director David Fanning for 5 years

Sectors:

Authorisation & Licensing Senior Managers / Governance

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇦🇪 ADGM News

July 13th 2026

The Bank of England (the Bank), the Prudential Regulation Authority (PRA) and the FCA will start overseeing the first critical third parties (CTPs) on Monday 13 July 2026, following designation by the Treasury. CTPs are technology and other service providers whose services underpin the UK financial system. Today, the Treasury has announced its first designations of 4 global cloud services and technology providers: Amazon Web Services EMEA SARL, Google Cloud EMEA Limited, Microsoft Ireland Ope...

AI Analysis

The Bank of England, PRA and FCA will begin **direct, joint oversight of the first designated Critical Third Parties (CTPs) from 13 July 2026**, covering four major cloud and technology providers whose services underpin UK financial markets. This materially changes the operational resilience landscape: while regulated firms remain fully responsible for their own outsourcing and third‑party risk management, critical dependencies on AWS, Google Cloud, Microsoft and Oracle will now sit within a separate supervisory regime focused on system‑level resilience and incident management.

What Changed

- A new CTP oversight regime becomes operational on 13 July 2026, under which the Bank of England, PRA and FCA will jointly supervise certain technology and service providers whose failure could...
HM Treasury has made the first formal CTP designations: Amazon Web Services EMEA SARL, Google Cloud EMEA Limited, Microsoft Ireland Operations Ltd and Oracle Corporation UK Limited.
Designated CTPs must identify and manage risks to their critical services effectively, including governance, risk management and operational resilience arrangements specifically focused on services...
CTPs are required to maintain open, timely communication with regulators and with firms that rely on them, particularly during major incidents, implying strengthened incident reporting,...
The three regulators will jointly oversee CTPs under a proportionate regime focused on resilience of “critical services”, including assessing and mitigating system‑level risks and reducing the risk...

Suggested Considerations

Review and update the firm’s operational resilience framework, including impact tolerances and scenario testing, to explicitly incorporate systemic risk arising from reliance on the designated CTPs and potential correlated failures affecting multiple services or regions.
Re‑assess outsourcing and third‑party risk management policies to ensure they clearly distinguish between obligations placed on regulated firms and those placed directly on CTPs, while maintaining robust due diligence, ongoing monitoring and exit strategies for all CTP‑hosted services.
Engage with designated CTPs (through account management, risk and security channels) to understand their approach to compliance with the CTP regime, including incident reporting arrangements, resilience testing, communication protocols and any new assurance artifacts they plan to provide.
Update board and senior management reporting so that reliance on designated CTPs, associated systemic risk and regulatory developments under the CTP regime are regularly monitored and discussed at appropriate governance forums (e.g. risk committee, operational resilience committee).
Review major incident management and crisis communication playbooks to ensure they include specific escalation paths, contact points and joint incident handling procedures with designated CTPs and relevant regulators.

Key Dates

12 November 2024

- UK regulators publish final policy and supervisory materials setting out the CTP oversight regime, including Fundamental Rules and operational risk and resilience requirements

01 January 2025

- CTP rules and oversight regime take legal effect, but only apply once a provider is designated as a CTP

13 July 2026

- Regulations for CTP oversight come into effect for the first designated CTPs; Bank of England, PRA and FCA formally start supervising AWS EMEA, Google Cloud EMEA, Microsoft Ireland Operations and Oracle UK as CTPs

Compliance Impact

Non‑compliance primarily affects regulated firms through weaknesses in operational resilience and third‑party risk management, rather than direct CTP rule breaches, but could result in supervisory findings, remediation programmes, restrictions on business growth and, in serious cases, enforcement action. For designated CTPs, failure to meet the regime’s requirements may trigger direct regulatory intervention, including directions on how services are provided, which can materially impact firms that rely on those services.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber

BankBroker DealerPayment Provider

Investment Management Wealth & Private Banking Banking & Credit

🇮🇪 CBI Enforcement critical

July 10th 2026

AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP Website(s) www.iron-cap.com https://www.iron-cap.io/ https://www.iron-cap.io/fr/forgot-password/ Email address(es) used support@iron-cap.com Samuel.breval@iron-cap.com Phone number(s) used None Authorisation in Ireland AGF International Advisors Company Limited (CLONE) and/or Iron-Cap/IRONCAP is not authorised to provide Investmen...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against a **fraudulent clone** using the name AGF International Advisors Company Limited and the brand Iron-Cap / IRONCAP, operating via several websites and email addresses without authorisation to provide investment services in Ireland. This matters for compliance teams because the cloned entity is impersonating a fully authorised CBI firm (AGF International Advisors Company Limited, CBI00022137), creating heightened financial crime, conduct, and reputational risks, and necessitating strengthened client-onboarding and counter‑party due‑diligence controls to detect and manage clone‑firm exposure.

What Changed

- The CBI has formally designated AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP as an unauthorised investment firm / investment business firm and has published its...
The specific websites www.iron-cap.com and https://www.iron-cap.io (including the French-language path https://www.iron-cap.io/fr/forgot-password/) have been identified as associated with this...
The email addresses support@iron-cap.com and Samuel.breval@iron-cap.com have been flagged as being used by the unauthorised entity in connection with the Iron-Cap / IRONCAP investment offering.
The CBI has reiterated that the clone is not authorised to provide investment services or investment business services in Ireland and has explicitly clarified that there is no connection whatsoever...
The warning reinforces existing CBI expectations that Irish‑authorised firms and gatekeepers must monitor and respond to clone‑firm activity, including by reporting suspected unauthorised firms...

Suggested Considerations

Review and update client‑onboarding procedures to include specific screening for the websites www.iron-cap.com and https://www.iron-cap.io and the email domains associated with Iron-Cap / IRONCAP, flagging and escalating any matches as suspected clone‑firm exposure.
Update sanctions, fraud, and financial crime screening tools and internal watchlists to include the unauthorised firm identifiers associated with AGF International Advisors Company Limited (CLONE) and Iron-Cap / IRONCAP, ensuring alerts are generated for relevant customer or transaction hits.
Strengthen fraud‑awareness communications to clients and staff by referencing the CBI’s financial scam materials, emphasising the risks of dealing with unauthorised firms and clone entities, and advising clients to verify firm authorisation before investing.
Establish or update an internal escalation protocol for suspected clone‑firm activity, ensuring that all such cases are reported promptly to the CBI via the dedicated unauthorised firms reporting channels and, where applicable, to other relevant regulators.

Key Dates

10 July 2026

- CBI publishes the warning notice on AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP as an unauthorised investment firm / investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

Failure to identify and appropriately manage interactions with unauthorised clone firms exposes regulated institutions to heightened AML/financial crime risk, consumer protection breaches, and significant reputational damage, and may result in supervisory scrutiny or enforcement for inadequate systems and controls. For clients misled into dealing with unauthorised firms, there is a high risk of loss without access to statutory investor compensation or regulatory recourse.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Investment Management Banking & Credit Capital Markets & Trading

🇮🇪 CBI Enforcement high

July 10th 2026

LGIM Managers (Europe) Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name LGIM Managers (Europe) Limited (CLONE) Website None Email addresses used info@lgimeu.com (no longer active) office@bunqpartner.com Purported address Friedrich-Ebert-Anlage 49 60311 Frankfurt am Main Phone number used +49 69 9675 5450 Authorisation in Ireland LGIM Managers (Europe) Limited (CLONE) is not authorised to operate as an investment firm or investment business firm in Ireland. Additional informati...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice that a **clone entity using the name “LGIM Managers (Europe) Limited (CLONE)” is offering fake investments and falsely claiming partnerships with bunq Bank and other institutions, without any authorisation to provide investment services in Ireland**. This matters for compliance teams because it highlights active impersonation of a CBI‑authorised MiFID/AIFM firm, the risk of client and staff being deceived by sophisticated cloning scams, and the need for strengthened controls around firm verification, client communications, and scam response.

What Changed

- The CBI has formally designated “LGIM Managers (Europe) Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details on the CBI unauthorised firms list...
The CBI has explicitly stated that the clone entity is not authorised to operate as an investment firm or investment business firm in Ireland, thereby clarifying that any investment services offered...
The warning identifies specific contact details associated with the scam, including email addresses info@lgimeu.com (now inactive) and office@bunqpartner.com, a purported address at...
The CBI has confirmed that the clone has copied the name and registration details of the legitimate CBI‑authorised firm LGIM Managers (Europe) Limited (C173733), while emphasising that there is no...
By publishing the firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, the CBI has activated its statutory regime for public warning notices on unauthorised firms,...

Suggested Considerations

Update customer‑facing fraud warnings, website scam information pages, and client communications to include reference to the CBI warning on the LGIM clone and to explain how clients can verify whether a firm is authorised in Ireland.
Enhance onboarding and periodic KYC / KYB procedures to include independent verification of counterparties’ authorisation status on the CBI register and cross‑check any claimed partnership with LGIM Managers (Europe) Limited, bunq Bank, or similar institutions.
Implement or update internal guidance requiring staff to escalate immediately any client queries, introductions, or marketing materials referencing “LGIM Managers (Europe) Limited (CLONE)” or using the listed contact details to the compliance and financial crime teams.
Conduct a targeted review of recent and ongoing distribution, referral, and introducer arrangements to identify any potential exposure to unauthorised clone entities or intermediaries misusing the LGIM brand or falsely claiming CBI authorisation.
Train frontline staff, relationship managers, and call‑centre agents on the specific red flags associated with clones of authorised firms, including copied registration details, foreign addresses, and use of generic email domains, and on the process for verifying authorisation with the CBI.

Key Dates

28 April 2023

– CBI previously issued a warning notice regarding a fraudulent entity cloning LGIM Managers (Europe) Limited and offering fake “Legal & General” bond investments, establishing a history of cloning activity around this authorised firm

10 July 2026

– CBI publishes the current warning notice “LGIM Managers (Europe) Limited (CLONE) – Central Bank of Ireland Issues Warning on Unauthorised Firm”, formally identifying the clone, its contact details, and its unauthorised status under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

Non‑compliance exposes firms to regulatory enforcement, criminal law risk where unauthorised activity is facilitated, and significant reputational damage for failing to prevent or respond adequately to clone‑firm scams involving their brand or clients. Firms that do not implement robust verification and reporting processes may face heightened conduct‑risk, customer detriment, and potential supervisory scrutiny from the CBI and other EU regulators.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerBankBroker Dealer

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 BoE News

July 10th 2026

UK financial regulators to begin overseeing Critical Third Parties announced by HM Treasury

The Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority will start overseeing the first Critical Third Parties on Monday 13 July 2026, following designation by HM Treasury.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Authorisation & Licensing

All Firms

Banking & Credit Insurance & Pensions Consumer Credit

🇬🇧 FCA Consultation high

July 10th 2026

Why getting product design right really matters to consumers

Financial products and services shape some of the most important decisions we all make – from saving and borrowing, to protecting ourselves and our families when things go wrong.Consumer needs vary widely, and there’s no such thing as a standard consumer. Our Financial Lives data shows a huge spread of needs, resilience and capability. That’s why it’s so important for firms to design their products effectively.When firms have consumers’ needs firmly in mind, they can support good outcomes – h...

AI Analysis

The FCA blog “Why getting product design right really matters to consumers” is a supervisory communication reinforcing how firms must design, monitor and distribute products under the Consumer Duty, with a particular focus on product governance, target markets, and ongoing outcomes monitoring. It matters for compliance teams because it sets out FCA expectations beyond the black‑letter rules, highlighting good and poor practices that will inform future supervision, interventions, and potential enforcement.

What Changed

- FCA reinforces that product design must be explicitly based on evidenced consumer needs, characteristics and behaviours, rather than generic assumptions or internal commercial priorities.
Firms are expected to define target markets at a granular level, avoiding broad or generic categories that mask differing needs or risks (especially for vulnerable customers).
Product governance must be embedded into business‑as‑usual decision‑making with clear ownership, challenge and accountability, not treated as a one‑off Consumer Duty implementation project.
Manufacturers and distributors must maintain robust, ongoing monitoring of consumer outcomes using a wide range of management information, including complaints, usage patterns, early cancellations...
There must be a clear, demonstrable link between monitoring and remedial action; collecting data without acting on emerging risks is characterised as weak practice.

Suggested Considerations

Review and update product governance frameworks to ensure they explicitly incorporate Consumer Duty outcomes, including structured consideration of customer needs, characteristics and objectives at every stage of product design and lifecycle.
Define and document granular target markets for each retail product and service, clearly articulating which customer segments the product is designed for, and excluding groups for whom the product could cause foreseeable harm.
Map products and services against vulnerable‑customer characteristics and update design, features, pricing and servicing models to mitigate risks and support good outcomes for vulnerable groups.
Implement or enhance processes to collect comprehensive management information on consumer outcomes (complaints, customer feedback, usage patterns, lapse and cancellation data, arrears and forbearance metrics) for each product.
Establish governance mechanisms to ensure that insights from monitoring and MI lead to timely, documented actions to improve products, pricing, communications or customer journeys where emerging risks or poor outcomes are identified.

Key Dates

31 July 2023

– Consumer Duty (Principle 12 and PRIN 2A) applies to all new and existing in‑scope products and services open to new business for retail customers

31 July 2024

– Consumer Duty applies to closed products and services (legacy books), extending the expectations on product design, monitoring and fair value to those products

Compliance Impact

Non‑compliance with these product‑design and governance expectations under Consumer Duty exposes firms to significant supervisory challenge, enforcement risk, potential redress exercises and reputational damage. FCA is signalling that weak product governance and failure to act on outcomes data will be treated as systemic conduct failings rather than isolated issues.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance

BankInsurancePayment Provider

Capital Markets & Trading Banking & Credit Investment Management

🇪🇺 ESMA Policy medium

July 10th 2026

ESMA publishes first market capitalisation data for EU Member States

ESMA publishes first market capitalisation data for EU Member States 10 July 2026 Market data The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today the annual market capitalisation and market capitalisation ratios of EU Member States for the reference years 2024 and 2025. This publication marks the first implementation of ESMA’s mandate under the FASTER Directive, under which ESMA developed technical standards on the cal...

AI Analysis

ESMA’s 10 July 2026 publication is the first operational use of the FASTER Directive framework requiring annual disclosure of each Member State’s market capitalisation and market capitalisation ratio. For compliance teams, the key issue is not the data release itself but the downstream impact: Member States above the **1.5% threshold for four consecutive years** may fall within special withholding tax relief rules, affecting tax-processing, documentation, and eligibility assessments across the market.

What Changed

- ESMA has started publishing annual market capitalisation figures and market capitalisation ratios for each EU Member State under its FASTER Directive mandate.
The published figures are based on a harmonised methodology developed by ESMA in technical standards, using transaction data reported under MiFIR.
Market capitalisation is calculated from shares admitted to trading on a regulated market or multilateral trading facility, with aggregation at the level of the issuer’s legal address in the relevant...
The market capitalisation ratio is calculated as the Member State’s market capitalisation divided by the total market capitalisation of all Member States on the same date, expressed as a percentage.
Member States whose market size exceeds 1.5% of total EU market capitalisation for four consecutive years are subject to specific withholding tax relief-related requirements.

Suggested Considerations

Compliance teams should map whether any serviced Member State may approach or exceed the 1.5% threshold over a rolling four-year period and flag jurisdictions that could trigger special withholding tax relief consequences.
Tax operations teams should align withholding tax relief workflows with the ESMA-published ratios so that jurisdictional eligibility assessments use the current official figures.
Data and controls teams should document the calculation source, methodology, and reconciliation process for any internal use of ESMA market capitalisation data.
Investment firms and intermediaries should review client-facing tax-relief processes to ensure they can respond to changes in Member State status under FASTER.
Market-data and regulatory-reporting teams should prepare for annual updates by building a recurring review process around each ESMA publication cycle.

Key Dates

10 January 2025

- The FASTER Directive was published in the Official Journal of the EU, establishing the legal basis for ESMA’s market capitalisation mandate

June 2025

- ESMA published a consultation paper on the draft RTS methodology for calculating market capitalisation and the market capitalisation ratio

25 July 2025

- The consultation period for ESMA’s draft RTS methodology closed

October 2025

- ESMA was expected to finalise the RTS and submit them to the European Commission

16 January 2026

- The European Commission issued a final document referring to the FASTER framework and its threshold mechanics

Compliance Impact

The immediate regulatory impact is medium to high because the publication does not itself impose new firm-level filing duties, but it informs a threshold-based regime that can materially affect withholding tax relief eligibility and operational processing. Non-compliance risk rises where firms fail to update jurisdictional tax workflows, leading to incorrect relief treatment, delays, or disputes with counterparties and tax authorities.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure AML / Financial Crime Senior Managers / Governance

All FirmsBankBroker Dealer

🇱🇺 CSSF Warning high

July 10th 2026

Warning concerning the website www.consulting-mla.com

No description available.

Sectors:

AML / Financial Crime Consumer Protection / Conduct

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇳🇱 AFM News

July 9th 2026

Dutch supervisory authorities urge faster action on digital autonomy

Businesses procuring IT services should join forces more often, as this is key to strengthening their digital autonomy. Public authorities and businesses should make digital autonomy a core consideration in their procurement decisions, helping to drive the development of European digital services.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber

All Firms

Banking & Credit Capital Markets & Trading Investment Management

🇦🇪 ADGM News

July 9th 2026

Sectors:

Topics:

All Firms

🇦🇪 DFSA News

July 9th 2026

The DFSA publishes 9th Audit Monitoring Report, underscoring strengthened audit…

Sectors:

Reporting & Disclosure Senior Managers / Governance

Topics:

Broker DealerAsset ManagerAll Firms

Capital Markets & Trading Banking & Credit Investment Management

🇪🇺 ESMA Enforcement medium

July 8th 2026

ESMA publishes technical standards on CCP admission criteria elements

ESMA publishes technical standards on CCP admission criteria elements 08 July 2026 CCP Guidelines and Technical standards The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Final Report on the Regulatory Technical Standards (RTS) concerning the central counterparties’ (CCPs) admission criteria elements , following the review of the European Market Infrastructure Regulation (EMIR 3). EMIR 3 introduces amendments to the p...

AI Analysis

ESMA’s Final Report on the RTS for CCP admission criteria elements clarifies the factors CCPs must assess when determining who can become a clearing member, with specific attention to **non-financial counterparties** and **sponsored membership**. For compliance teams, the practical impact is that CCPs will need to evidence that their admission criteria are risk-based, proportionate, transparent, and aligned with EMIR 3, while clearing members—especially NFCs—should expect more structured scrutiny of financial resources, operational capability, and membership model fit.

What Changed

- CCPs must base admission criteria on a comprehensive risk assessment of the risks posed by clearing members and ensure the criteria reflect those risks.
CCPs must consider whether clearing members have sufficient financial resources to meet obligations arising from participation in the CCP.
CCPs must assess whether clearing members have access to reliable credit, liquidity, and foreign exchange facilities commensurate with the scale and nature of their clearing activity.
CCPs must examine the clearing member’s operational capacity to meet CCP obligations, including readiness to support clearing operations and margin obligations.
CCPs must take account of the client clearing activity of a clearing member, including the relative importance of that activity and the member’s ability to meet margin requirements if clients default.

Suggested Considerations

CCPs should review their current admission criteria to ensure they are explicitly tied to a documented assessment of risks posed by each clearing member type.
CCPs should update membership rulebooks and onboarding procedures to reflect the RTS requirement to consider financial resources, operational capacity, and liquidity support arrangements.
CCPs should build or refine documented methodologies for assessing NFC clearing members’ ability to meet margin and default fund obligations.
CCPs should ensure sponsored membership frameworks clearly define how the sponsor’s support, the sponsored member’s profile, and relevant risk controls are assessed for eligibility purposes.
CCPs should prepare to publish clear admission criteria, application steps, timelines, required documentation, and explanations for any category-specific requirements.

Key Dates

Q4 2025

- ESMA conducted a public consultation on the draft RTS

November 2025

- ESMA held a public hearing on the draft RTS

05 January 2026

- The consultation period referenced in ESMA’s prior consultation paper closed

08 July 2026

- ESMA published the Final Report on the RTS concerning CCP admission criteria elements

TBD (post

08 July 2026); - The RTS will be submitted to the European Commission for endorsement

Compliance Impact

The compliance impact is moderate to high because the RTS will shape how CCPs admit or exclude clearing members and how those decisions must be justified, documented, and disclosed. Failure to align admission frameworks with the final RTS could expose CCPs to supervisory challenge, remediation requirements, and operational delays in onboarding members or updating access terms.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Reporting & Disclosure Prudential / Capital Requirements

BankBroker DealerAsset Manager

🇬🇧 BoE News

July 8th 2026

Minutes of the UK Money Markets Code Sub-Committee – June 2026

The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.

Sectors:

Operational Resilience / Outsourcing Prudential / Capital Requirements

Topics:

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 FCA Speech

July 8th 2026

Showing our workings: solving for growth, risk and trust

Speech by Sarah Pritchard, deputy chief executive, at a Breakfast Briefing at The Whitehall Industry Group. As everyone who has wrestled with a problem knows, getting to the right answer is about more than just understanding the question.It’s about having a firm grasp on your constants.We’re working with 2. And they are, admittedly, significant. The first is our vision: deepening trust, rebalancing risk, supporting growth and improving lives.We want to see a fair, thriving financial services ...

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Technology & Cyber

All Firms

🇬🇧 BoE Guidance medium

July 8th 2026

Statistical Notice 2026/07 - Bank of England Levy: Notification Document Levy Year 2026/27

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

The Bank of England has published the **Bank of England Levy Notification Document for the 2026/27 Levy year**, formally stating its anticipated levy requirement and triggering the invoicing process for levy payers. This matters for compliance and finance teams because it confirms the **chargeable amount for the 2026/27 year under the Bank of England Levy Framework**, and starts the clock on internal budgeting, approvals and payment controls for what is now a material fixed annual cost of BoE policy functions.

What Changed

- The Bank of England has released the annual Notification Document for the 2026/27 Bank of England Levy, confirming the anticipated levy requirement for the current levy year under paragraph 1.16 of...
For 2026/27, the Bank of England Levy is set at £700 million, reflecting both funding of the Bank’s policy functions and the transition away from the legacy Cash Ratio Deposits (CRD) scheme, with a...
Within this £700 million total, the Bank is recovering £343 million as net Levy from industry, separate from operational policy costs of approximately £357 million, with £307 million specifically...
The Levy sits within the Bank’s overall fee and levy regime which is constrained such that the Bank’s operating budget and core levies may increase by no more than consumer price inflation in...
The Notification Document underlines that invoices for individual Levy Payers will follow, consistent with the Framework and associated terms and conditions, and that levy payers will be billed by...

Suggested Considerations

Confirm internally which group entities are Levy Payers for the 2026/27 Bank of England Levy and reconcile this against the scope set out in the Bank of England Levy Framework Document and related BoE fee regime policy statements.
Review the Bank of England Levy Notification Document for 2026/27 alongside the 2024 Levy Framework Document and prior-year notices to understand how the bank’s individual assessment may change relative to 2025/26.
Ensure that Recognised Contact and Invoice Contact details submitted to the Bank are up to date, consistent with Statistical Notice 2026/03 requirements, so that levy invoices and operational communications are received and actioned promptly.
Set up or confirm internal approval, purchase order and payment processes to ensure invoices for the Bank of England Levy 2026/27 are validated, coded and paid in accordance with the Bank’s payment terms and internal delegation of authority.
Update regulatory cost forecasts, budgets and FTP (funds transfer pricing) or product pricing models to reflect the 2026/27 levy quantum and any change in allocation across entities or business lines.

Key Dates

In or around July 2026

- The Bank of England emails invoices for the Bank of England Levy to Levy Payers, setting out the levy amount payable for the 2026/27 Levy Year

Levy Year 2026/27 (1 April 2026 – 31 March 2027, by inference from BoE and FCA levy year conventions)

- Period to which the Bank of England Levy Requirement and the Notification Document relate

Compliance Impact

Non-compliance primarily creates financial and operational risk, including late-payment charges or escalation by the Bank of England, as well as potential reputational issues with the prudential supervisor. Given the Levy funds core policy functions, repeated failures or disputes around payment could attract heightened supervisory scrutiny and questions over governance, systems and controls in managing regulatory obligations.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇯🇵 JFSA News

July 8th 2026

Publication,FSA Weekly Review No.694 July 8, 2026

No description available.

Sectors:

Topics:

Reporting & Disclosure AML / Financial Crime Authorisation & Licensing

BankBroker DealerInsurance

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇬🇧 PRA Consultation medium

July 8th 2026

PS17/26 – Regulated fees and levies: Rates proposals 2026/27

Policy statement 17/26

AI Analysis

PS17/26 confirms the Bank of England’s and PRA’s final **fees and levies rates for 2026/27**, including a 3% overall increase in the Bank’s core levies (within CPI) but a small **reduction** in the PRA levy and a clarified mechanism for the “Cost of Transition” away from the legacy Cash Ratio Deposit (CRD) model. For compliance and finance teams in PRA‑regulated firms, this directly affects **prudential fee budgets, cost allocation models, and forecasting**, and requires understanding of the new transition adjustment that can materially change the Bank of England Levy as interest rates move.

What Changed

- The Bank’s core levies (Bank of England Levy, PRA Levy, FMI Levy, and other core levies) are constrained to grow by no more than CPI in 2026/27, with the Bank’s operating costs and associated core...
Within this 3% cap, the Bank of England Levy (operational policy cost component) is budgeted to increase from £328 million (2025/26 budget) to £353 million in 2026/27, an 8% year‑on‑year rise driven...
The PRA Levy is set to decrease slightly from £350 million (2025/26) to £345 million in 2026/27, a 1% reduction reflecting the PRA’s lower overall Total Funding Requirement and a different investment...
The FMI Levy is budgeted to increase from £17 million (2025/26 budget) to £18 million in 2026/27, representing a 3% rise in costs for financial market infrastructure supervision.
Overall, the Bank’s core levies (Bank of England Levy, PRA Levy, FMI Levy) are forecast to move from £695 million (2025/26 budget) to £715 million in 2026/27, a £20 million (3%) increase within the...

Suggested Considerations

Review the PS17/26 final numbers and tables to identify your firm’s applicable PRA fee‑block(s), the applicable Bank of England Levy and FMI Levy components, and quantify the 2026/27 impact relative to 2025/26.
Update internal regulatory fee and levy forecasts, budgets, and accrual models to incorporate the 3% increase in core Bank levies, the 1% reduction in the PRA Levy, and any firm‑specific changes driven by business volumes or fee‑block allocations.
For treasury and finance teams, model the Cost of Transition by stress‑testing scenarios where Bank Rate is above or below the legacy CRD gilt return, to understand potential upward or downward adjustments to the Bank of England Levy and reflect this in multi‑year financial planning.
Ensure that board and relevant governance committees (e.g. Audit Committee, Risk Committee) are briefed on the 2026/27 levy changes, including the Cost of Transition mechanism, and that any material budget variances versus prior plans are explained and approved.
For firms previously affected by the CRD scheme, update internal regulatory funding documentation and policies to remove references to CRD funding and to describe the new levy‑based and Cost of Transition arrangements, ensuring consistency with PS17/26 and the 2024 Bank of England Levy Framework.

Key Dates

March 2024

– Legacy Cash Ratio Deposit (CRD) non‑interest‑bearing balances are converted into remunerated central bank reserves and the corresponding gilts portfolio is transferred to the Bank’s Banking Department, triggering the start of the Cost of Transition mechanism

17 April 2026

– PRA publishes CP7/26 “Regulated fees and levies: Rates proposals 2026/27”, consulting on draft fee rates, AFR and TFR for the 2026/27 fee year

15 May 2026 DEADLINE

– Deadline for firms to submit consultation responses on CP7/26 to the PRA

Early July 2026

– PRA publishes PS17/26 setting the final regulated fees and levies, including final 2026/27 PRA Levy, FMI Levy, Bank of England Levy amounts, and the application of the Cost of Transition mechanism for the 2026/27 fee year

From July 2026

– FCA/PRA joint invoicing cycle for 2026/27 periodic fees and levies begins; firms start to receive invoices incorporating the PRA Levy, Bank of England Levy, FMI Levy, and related statutory levies for the 2026/27 fee year

Compliance Impact

Non‑compliance with PRA and Bank of England fee and levy obligations, including late or non‑payment, can result in surcharges, debt collection, restrictions on permissions, and potentially enforcement action, with reputational and prudential supervision consequences.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankInsuranceAsset Manager

🇦🇪 ADGM News

July 8th 2026

No description available.

AI Analysis

Japan’s Financial Services Agency (JFSA) has finalized a partial amendment to the *designation of countries and regions* under Articles 17-2 and 17-3 of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds (APTCP), expanding the list of foreign jurisdictions that are subject to Japan’s crypto/e-money **travel rule** framework. The change matters because Japanese cryptoasset and electronic payment instrument service providers must now apply full originator/beneficiary information transmission when dealing with additional foreign VASPs in newly designated jurisdictions, and must adjust their AML/financial crime controls and routing logic accordingly by 3 August 2026.

What Changed

- Japan has finalized a partial amendment to the list of designated countries/regions under Articles 17-2 and 17-3 of the Order for Enforcement of the Act on Prevention of Transfer of Criminal...
The amendment expands the set of foreign jurisdictions for which Japanese firms must apply travel rule obligations when transferring cryptoassets and electronic payment instruments to foreign VASPs,...
For transfers of cryptoassets and electronic payment instruments from Japanese VASPs to foreign VASPs, travel rule obligations apply only when the counterparty VASP is located in a jurisdiction...
Transfers to foreign VASPs in non-designated jurisdictions remain outside the Japanese travel rule transmission obligation, reflecting JFSA’s concern about regulatory ineffectiveness where equivalent...
The amendment confirms that the travel rule applies to both cryptoassets (virtual assets, VAs) and electronic payment instruments, including stablecoins (SCs) handled by Cryptoasset Exchange Service...

Suggested Considerations

Review and obtain the official Attachment to identify the five newly added jurisdictions and verify their exact legal names and any specific conditions attached to their designation.
Update internal jurisdiction lists and travel rule mapping to reflect all currently designated countries and regions under Articles 17-2 and 17-3, including the newly added five jurisdictions, ensuring that this mapping is embedded in transaction routing and screening engines.
Revise travel rule implementation procedures so that originator and beneficiary information is consistently transmitted for all transfers of cryptoassets and electronic payment instruments from Japanese VASPs to foreign VASPs located in designated jurisdictions, including the new additions.
Confirm that no de minimis threshold is applied in practice to covered transactions and that systems are configured to send travel rule data regardless of transaction size when the counterparty is in a designated jurisdiction.
Update customer and counterparty onboarding documentation and contractual terms for foreign VASPs in newly designated jurisdictions to reflect their status as travel rule counterparties and any data-sharing, security, and retention requirements.

Key Dates

Senior Managers / Governance

Topics:

All Firms

🇦🇺 ASIC News

July 7th 2026

ESMA publishes preliminary findings on the Active Account Requirement and the first Annual Report of the Joint Monitoring Mechanism 06 July 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the Interim Report of the Effectiveness of the Active Account Requirement and the First Annual Report of the Joint Monitoring Mechanism . Preliminary findings on the Active Account Requirement Based on available data, ana...

AI Analysis

ESMA’s interim report on the EMIR 3 Active Account Requirement (AAR) and the first Annual Report of the Joint Monitoring Mechanism (JMM) confirm that the AAR is operational, materially impacting EU clearing behaviour and beginning to shift activity from Tier 2 (third‑country) CCPs to EU CCPs. For compliance teams, this marks a move from regime design to supervisory assessment: firms subject to AAR must now assume their notifications, clearing patterns, and reporting will be benchmarked against ESMA’s evolving effectiveness methodology and cross‑sectoral monitoring of EU clearing risks.

What Changed

- ESMA has published an Interim Report on the effectiveness of the Active Account Requirement, covering implementation and market impact during 2025 and early 2026, and explicitly framing this as the...
ESMA confirms that roughly 500 entities have formally notified ESMA and national competent authorities that they are subject to the AAR, indicating that competent authorities now have a defined...
Notified entities represent more than 90% of notional outstanding held by EU entities in relevant AAR‑scope derivatives, signalling supervisory focus on a concentrated set of high‑exposure...
ESMA identifies early signs of increased clearing activity at EU CCPs, particularly among smaller entities, including some full relocation of positions from Tier 2 CCPs to EU CCPs for AAR‑relevant...
ESMA notes a gradual but limited shift in market shares from systemically important Tier 2 CCPs to EU CCPs in certain AAR‑related products, indicating that supervisors will monitor market‑share...

Suggested Considerations

Confirm whether your entity (and any funds or branches) is subject to the Active Account Requirement by assessing EMIR clearing obligation status and relevant notional clearing volumes against EMIR 3 thresholds for AAR‑scope derivatives.
Implement and document annual stress‑testing of the active account arrangements, including at least one test per year, to evidence that positions and new trades can be shifted from Tier 2 CCPs to EU CCPs under stress scenarios.
Map and quantify exposures to Tier 2 CCPs across AAR‑relevant derivatives, and establish an internal monitoring framework to track shifts in clearing volumes between Tier 2 CCPs and EU CCPs in line with AAR objectives.
Align trade booking, clearing workflows, and client documentation so that the required minimum number of trades per relevant subcategory and contract class can be cleared through the EU active account on an annual average basis, taking into account representativeness requirements where applicable.
Prepare to submit the first AAR report by 31 July 2026, ensuring that systems and controls can capture and report activity from 25 June 2025 to 30 June 2026 in accordance with ESMA’s reporting templates and instructions.

Key Dates

24 December 2024

– EMIR 3 enters into force, establishing the legal basis for the Active Account Requirement and related RTS framework

2025 (full year)

– First year of operation of the Joint Monitoring Mechanism, covering monitoring of AAR implementation and broader EU clearing landscape developments, as described in the JMM’s first Annual Report

25 June 2025 DEADLINE

– Active Account Requirement becomes applicable, starting the reference period for AAR compliance and reporting and triggering obligations to maintain an active account at an EU CCP for specified derivatives

February 2026 (as of)

– Approximately 500 entities have notified ESMA and national competent authorities that they are subject to the AAR, marking a key supervisory data‑collection milestone

26 February 2026 DEADLINE

– Regulatory Technical Standards specifying detailed AAR conditions, including operational obligations, stress‑testing, activity and reporting requirements, enter into force, operationalising how the AAR must be met in practice

Compliance Impact

Non‑compliance with the AAR and associated reporting and operational requirements raises significant supervisory and financial stability concerns, with a high risk of regulatory intervention, enforcement, and potential restrictions on clearing arrangements, especially for firms with large exposures to Tier 2 CCPs. Given ESMA’s explicit focus on effectiveness and systemic risk channels, persistent weaknesses in AAR implementation may also affect prudential assessments, stress‑testing outcomes, and broader supervisory views of CCP and clearing‑member risk management.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

Topics:

BankBroker DealerAsset Manager

Investment Management Banking & Credit Insurance & Pensions

🇱🇺 CSSF Consultation medium

July 6th 2026

Public consultation by ESMA until 12 August 2026 on simplifying EU Taxonomy disclosure framework

No description available.

AI Analysis

ESMA has launched a public consultation (via CSSF notification) on its technical advice to the European Commission for simplifying the EU Taxonomy disclosure framework, focusing on selected KPIs under the Taxonomy Disclosures Delegated Act and reducing reporting burdens. This matters for compliance teams because it is the first formal step in the review of Article 8 Taxonomy disclosure KPIs that will likely change how financial and non‑financial undertakings calculate and disclose Taxonomy‑related indicators from around Q3 2027.

What Changed

- ESMA is consulting on technical advice to the European Commission specifically targeting selected KPIs under the Taxonomy Disclosures Delegated Act (Article 8 of the Taxonomy Regulation), including...
The stated policy objective is simplification of the EU Taxonomy disclosure framework while preserving decision‑useful information for investors and supervisors.
ESMA aims to reduce reporting burdens for market participants, notably corporates and financial institutions subject to Taxonomy Article 8 disclosures.
The consultation covers selected KPIs under the Taxonomy Disclosures Delegated Act, with the European Commission having requested focused advice on: OpEx KPI of non‑financial firms; Commissions and...
ESMA is proposing more pragmatic approaches to group‑level reporting for mixed groups, including reporting at parent‑undertaking level to reduce complexity for conglomerates.

Suggested Considerations

Conduct an internal impact assessment of current Taxonomy Article 8 KPI calculation and reporting processes, focusing on OpEx, Commissions and Fees, Trading Book, and Underwriting KPIs, to identify pain points and simplification priorities.
Prepare and submit a response to ESMA’s consultation by 12 August 2026, either directly or via industry associations, articulating specific operational, data, and system challenges and concrete proposals for simplification.
Register for and attend ESMA’s public hearing on 22 July 2026 to understand the detailed proposals, ask clarifying questions, and align internal positions ahead of submission.
Coordinate with regulatory affairs, sustainability, risk, and finance functions to develop a unified institutional position on the desired design of revised KPIs and group‑level reporting under the Taxonomy Disclosures Delegated Act.
Map dependencies between Taxonomy Article 8 data and other ESG reporting (including SFDR product disclosures and CSRD/ESRS reporting) to anticipate how changes to KPIs may affect cross‑framework consistency and data architecture.

Key Dates

01 July 2026

- ESMA launches its public consultation on simplifying the EU Taxonomy disclosure framework and technical advice on selected KPIs under the Taxonomy Disclosures Delegated Act

22 July 2026

- ESMA holds a public hearing to present its proposals and engage with stakeholders on the consultation

12 August 2026 DEADLINE

- Deadline for stakeholders to submit responses to ESMA’s consultation on Taxonomy disclosure simplification

By October 2026

- ESMA (and other ESAs) are expected to deliver final technical advice on the Taxonomy Disclosures Delegated Act KPIs to the European Commission

Q1 2027

- Target date for the European Commission to complete its review of the Taxonomy Disclosures Delegated Act based on ESAs’ advice

Compliance Impact

In the short term, non‑participation in the consultation does not create direct non‑compliance risk but may leave firms exposed to a revised framework that does not reflect their operational realities. In the medium term (Q3 2027 onward), failure to implement the revised Taxonomy KPIs and disclosure rules will create material regulatory, supervisory, and reputational risk, given the central role of Taxonomy data in EU sustainable finance and investor disclosures.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Deadline: 12 August 2026

Sectors:

Topics:

Asset ManagerBankInsurance

Banking & Credit Investment Management Payments & E-Money

🇬🇧 FCA News

July 6th 2026

FCA publishes landmark review into impact of AI on retail financial services

The review sets out how AI could reshape retail financial services for consumers, firms, markets and regulators by 2030 and beyond. Led by FCA executive director Sheldon Mills and commissioned by the Board, The Mills Review is the first work of its kind initiated by a regulator globally.Drawing on views from across the financial services landscape, the report identifies 4 major AI‑driven shifts likely to impact retail financial services: the transformation of firm operations; the evolution of...

Sectors:

Topics:

Technology & Cyber Consumer Protection / Conduct Operational Resilience / Outsourcing

All Firms

🇬🇧 BoE News

July 6th 2026

Bank of England appoints Rhys Phillips as the new Chief Cashier

The Governor of the Bank of England, Andrew Bailey, has announced that Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026.

Sectors:

Senior Managers / Governance

Topics:

Bank

🇮🇪 CBI Speech

July 3rd 2026

Understanding your lane, managing turning points - Speech by Governor Gabriel Makhlouf - Les Rencontres Économiques d’Aix-en-Provence

In the summer of 2012, with bond markets pricing in a chance of a euro breakup, Mario Draghi pledged to do “whatever it takes” to preserve the currency union. It worked: spreads fell, though the programme behind the pledge, Outright Monetary Transactions (OMT), was never used. Despite having no formal relationship with national fiscal authorities, the central bank stepped in because markets had doubts about some governments’ solvency, and this threatened the monetary union’s existence. We are...

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

BankAll Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇯🇵 JFSA News

July 3rd 2026

Publication,Publication of the "Initiatives and Challenges in Anti-Money Laundering and Countering Financial Crime (July 2026)"

No description available.

Sectors:

Topics:

All Firms

🇱🇺 CSSF News

July 3rd 2026

Active account reporting under Article 7b of EMIR

No description available.

Sectors:

Topics:

All Firms

Capital Markets & Trading Investment Management Banking & Credit

🇫🇷 AMF News

July 3rd 2026

The AMF publishes its 2026 Markets and Risk Outlook

Risk and Trend Mapping Markets Fixed income Asset management Other professionals Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers ...

Sectors:

Topics:

Technology & Cyber Market Abuse / Surveillance Consumer Protection / Conduct

All Firms

🇳🇱 AFM News

July 3rd 2026

FD-column Laura van Geest: 'Effectief leren: niet afrekenen maar groeien'

Leren is hard werken, stelt bestuursvoorzitter Laura van Geest in haar periodieke column in Het Financieele Dagblad . Ze stelt dat dat geldt voor de eindexamenkandidaten het afgelopen jaar, voor de betrokkenen bij het coronabeleid en ook voor de financiële sector en haar toezichthouder. De column van Laura van Geest verschijnt op zaterdag in de papieren krant en op vrijdag online op fd.nl (achter inlog).

Sectors:

Consumer Protection / Conduct AML / Financial Crime

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇮🇪 CBI News

July 3rd 2026

Issue 11 2026

No description available.

Sectors:

Topics:

Reporting & Disclosure Consumer Protection / Conduct

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇸🇬 MAS News

July 3rd 2026

MAS Partners Industry to develop Safeguards for AI Agents in Finance

MAS, together with leading financial institutions and FinTechs, published an industry white paper on developing safeguards for AI agents in Finance. Titled “Safeguards for Agentic Finance at Runtime (SAFR)”, the paper proposes an industry-developed framework that enables AI agents in financial services to carry out financial tasks safely, securely and reliably. SAFR is developed under MAS’ BuildFin.ai initiative, which supports the responsible development and deployment of AI solutions in the fi

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Senior Managers / Governance

BankFintechAll Firms

🇯🇵 JFSA News

July 2nd 2026

International,Exchange of Letters (EoL) on the Cooperation Framework with the International Financial Services Centres Authority, India

No description available.

Sectors:

Topics:

All Firms

🇯🇵 JFSA News

July 2nd 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services (June 24, 2026)

No description available.

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankAll Firms

🇪🇺 ESMA Speech

July 2nd 2026

ESMA identifies up to €1 billion in potential annual savings from simplifying EU transaction reporting

ESMA identifies up to €1 billion in potential annual savings from simplifying EU transaction reporting 02 July 2026 Market data Simplification and Burden Reduction The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its final report on the simplification of transaction reporting, setting out a clear path towards a ‘Report Once’ approach. Verena Ross, ESMA Chair, said: “Transaction reporting is central to market transparency,...

Sectors:

Reporting & Disclosure Market Abuse / Surveillance

Topics:

Broker DealerAsset ManagerBank

🇬🇧 BoE Speech

July 2nd 2026

Mixed signals, research findings, and policy judgements − speech by Catherine L. Mann

Given at the Natixis CIB Private Debt Forum

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

BankAll Firms

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 FCA Policy medium

July 2nd 2026

Payments Vision Delivery Committee update on future retail payments infrastructure

The Retail Payments Infrastructure Board (RPIB), led by the Bank of England, recently published a consultation on the future retail payments infrastructure.To support the consultation, the Payment Vision Delivery Committee (PVDC) which comprises representatives of HM Treasury, the FCA, Bank of England and the PSR, has published further context to support stakeholders' reading of the consultation. It covers issues such as how the commercial model for the infrastructure should work and how the ...

AI Analysis

The FCA statement confirms that the Retail Payments Infrastructure Board (RPIB), led by the Bank of England, has launched a major consultation on the **design of the future UK retail payments infrastructure**, supported by contextual material from the Payments Vision Delivery Committee (PVDC). This marks a key implementation step in the UK National Payments Vision, with significant implications for commercial models, access, consumer protection and financial crime controls across all retail payment schemes and providers.

What Changed

- A new governance and delivery model for UK retail payments infrastructure is being operationalised, with strategy set by the PVDC, design work led by the RPIB, and implementation by a new...
The RPIB has launched a formal consultation on the design of the future retail payments infrastructure, seeking views on payment journeys, key design choices and priorities.
The PVDC has published additional context to support stakeholders’ reading of the consultation, including expectations for the commercial model, consumer protection outcomes and financial crime...
Responsibilities across the ecosystem are being reset, with clearer roles for public authorities (HM Treasury, Bank of England, FCA, PSR), Pay.UK, and industry participants in designing and...
Next‑generation infrastructure is expected to support account‑to‑account payments at point of sale, enhanced cross‑border payments, and interoperability with new forms of digital money (including...

Suggested Considerations

Assess and document your firm’s current and projected use of UK retail interbank payments (including Faster Payments, account‑to‑account, and cross‑border flows) to inform your response to the RPIB consultation.
Prepare and submit a coordinated consultation response to the RPIB by 11 September 2026, covering your views on payment journeys, design choices, consumer protection needs and financial crime controls.
Review your firm’s commercial and pricing models for interbank payments to understand how potential changes to the future infrastructure’s commercial model could affect revenue, costs and access.
Map dependencies between your operational resilience framework and the existing UK retail payments infrastructure, and identify key risks and mitigants under a transition to the next‑generation infrastructure.
Engage with industry bodies, Pay.UK and relevant trade associations to align positions on access, interoperability, fraud management, and technical standards for next‑generation retail payments.

Key Dates

Autumn 2026

Sectors:

Topics:

All Firms

Payments & E-Money Crypto & Digital Assets Banking & Credit

🇪🇺 ESMA Enforcement high

July 1st 2026

ESMA recognises the Clearing Corporation of India Limited as a Tier 1 third-country CCP

ESMA recognises the Clearing Corporation of India Limited as a Tier 1 third-country CCP 01 July 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has recognised The Clearing Corporation of India Limited (CCIL) as a Tier 1 third-country central counterparty (CCP) under the European Market Infrastructure Regulation (EMIR). The recognition allows CCIL to provide clearing services to EU clearing members and trading venues, including banks, inves...

AI Analysis

ESMA has recognised The Clearing Corporation of India Limited (CCIL) as a **Tier 1 third‑country CCP** under EMIR, with the recognition effective from **30 June 2026**, allowing CCIL to provide clearing services to EU clearing members and trading venues. This restores and regularises EU firms’ ability to clear eligible Indian markets through CCIL under EMIR Article 25, subject to equivalence, cooperation, and oversight conditions tied to the Reserve Bank of India (RBI) and the Indian CCP regime.

What Changed

- CCIL is formally recognised as a Tier 1 third‑country central counterparty (TC‑CCP) under Regulation (EU) No 648/2012 (EMIR), allowing it to offer clearing services to EU clearing members and EU...
The recognition is contingent on an equivalence decision adopted by the European Commission for the Indian regulatory framework applicable to CCPs under EMIR Article 25.
ESMA has assessed and confirmed effective supervision and enforcement by the Reserve Bank of India (RBI) over CCIL as a prerequisite for recognition.
ESMA and RBI have put in place cooperation arrangements, formalised through a Memorandum of Understanding, to support ongoing supervisory coordination over CCIL’s activities that affect EU...
CCIL is now included in ESMA’s updated list of recognised third‑country CCPs, clarifying that EU firms may use CCIL’s clearing services while complying with EMIR’s clearing and risk‑management...

Suggested Considerations

Confirm and document that CCIL now appears on ESMA’s official list of recognised third‑country CCPs and that its status is Tier 1 under EMIR, updating internal CCP eligibility lists and counterparty approval registers accordingly.
Review and update internal clearing policies, procedures and governance documents to reflect that EU entities may again clear eligible products through CCIL, subject to EMIR and firm‑specific risk appetite.
Reassess and formally approve CCIL within the firm’s CCP due‑diligence framework, including credit risk, operational risk, legal risk and jurisdictional risk assessments, taking account of the RMU with RBI and the Tier 1 classification.
Update EMIR compliance mappings to ensure that trades cleared via CCIL are correctly treated for clearing obligation, risk‑management, reporting and collateral requirements, and that no activity is undertaken through non‑recognised CCPs in India.
Coordinate with front‑office, clearing operations and collateral management teams to re‑open or adjust clearing access to CCIL (e.g. membership arrangements, client clearing channels, account structures, margin and collateral workflows).

Key Dates

AI Analysis

CSSF-CPDI 26/51 announces the **regular CPDI/Fonds de garantie des dépôts Luxembourg (FGDL) survey of covered deposits as at 30 June 2026**, to be completed by Luxembourg FGDL member institutions. This quarterly data collection feeds directly into the risk-based, ex‑ante contribution methodology under the deposit guarantee framework and is operationally important for prudential planning, reporting controls, and funding of the FGDL.

What Changed

- CSSF launches a new covered deposits data survey with reference date 30 June 2026, continuing the established quarterly reporting cycle used for FGDL funding and risk-based contribution...
Credit institutions incorporated under Luxembourg law, POST Luxembourg (for postal financial services), and Luxembourg branches of credit institutions from third countries must report the stock of...
The survey must be submitted via the CSSF reporting channels (CSSF eDesk platform or other specified electronic means), using the data templates and technical specifications communicated by the CPDI,...
Institutions that are members of the FGDL must ensure alignment between the survey data and the definition of “covered deposits” under the Law of 18 December 2015 on the failure of credit...
The circular reaffirms that data reported for the survey feed into the risk‑based ex‑ante contribution mechanism set out in CPDI circulars on FGDL contributions (e.g.

Suggested Considerations

Apply the EUR 100,000 coverage cap per depositor for the survey and ensure that non‑eligible deposits (such as certain financial sector deposits or specific categories excluded under the 2015 Law) are correctly filtered out of the covered deposits figures.
Reconcile the 30 June 2026 covered deposits data with internal finance, risk, and regulatory reporting systems to ensure consistency with other prudential data and FGDL contribution calculations.
Arrange for the survey report to be reviewed and formally approved by the institution’s governing body or the designated senior manager responsible for deposit guarantee scheme reporting, documenting the approval and any key assumptions or methodological choices.
Submit the completed 30 June 2026 covered deposits survey through the CSSF eDesk platform or other specified reporting channel within the deadline set by CSSF-CPDI 26/51 and any accompanying CPDI instructions.
Retain detailed working papers, data extracts, and methodology documentation supporting the 30 June 2026 survey in order to evidence compliance to CSSF, facilitate internal audit review, and support future FGDL ex‑ante contribution calculations.

Key Dates

AI Analysis

The FCA and Bank of England have set out a joint supervisory model for **systemic stablecoin issuers**, clarifying how firms will move from FCA-only oversight to joint regulation once HM Treasury designates them as systemic. This matters because UK‑based and non‑UK stablecoin issuers used for payments will face distinct prudential, conduct and structural requirements depending on whether they are non‑systemic (FCA only) or systemic (Bank of England plus FCA), with a managed transition between regimes.

What Changed

- UK stablecoin issuance will be subject to a dual regulatory regime: non‑systemic stablecoins will be supervised solely by the FCA, while systemic stablecoins used for payments will be jointly...
Issuing a qualifying sterling‑denominated stablecoin in the UK will become a regulated activity, requiring FCA authorisation for non‑bank issuers and bringing them within the FCA’s prudential,...
HM Treasury will apply statutory systemic tests under the Banking Act (e.g. scale, interconnectedness, substitutability, impact on confidence in sterling) to decide whether a stablecoin payment...
Once recognised as systemic, stablecoin issuers and systemic payment system providers will fall under the Bank of England’s remit under the Banking Act 2009, including powers to obtain information,...
Systemic sterling‑denominated stablecoin issuers will be required to maintain backing reserves equal to all outstanding coins, with backing assets held on statutory trust in the UK and ring‑fenced...

Suggested Considerations

Map all existing and planned sterling‑denominated stablecoin products against the UK’s systemic and non‑systemic regimes and assess whether their intended use in UK payments could trigger HM Treasury systemic recognition.
Initiate or update FCA authorisation applications for stablecoin issuance and cryptoasset custody activities, ensuring business models, governance and safeguarding arrangements align with CP25/14 and the forthcoming stablecoin regime.
Design and implement reserve‑management frameworks capable of maintaining backing assets equal to outstanding coins, in the proposed 70/30 mix between short‑term UK government debt and Bank of England deposits, with appropriate stress testing and liquidity risk oversight.
Establish statutory trust and segregation structures for backing assets and liquid‑asset reserves, including appointing UK‑authorised third‑party custodians and aligning documentation with FCA client‑asset‑style protections and coinholder proprietary claims.
Develop capital planning processes and ICAAP‑style assessments to meet the Bank of England’s requirements for capital against general business risk and dedicated reserves for financial risk and wind‑down costs.

Key Dates

10 November 2025

- Bank of England consultation paper issued on the proposed regulatory framework for sterling‑denominated systemic stablecoins and systemic payment system operators

Late 2026

- Bank of England intends to finalise the Code of Practice and supporting materials by the end of 2026, confirming the prudential and structural regime for systemic stablecoins

From 2026

- UK introduces new regulatory authorisation requirements for stablecoin issuers, including FCA authorisation for qualifying issuance and custody activities

10 February 2026

- Consultation period closes for the Bank of England’s systemic stablecoin regime proposals

June 2026

- Bank of England publishes its policy statement and draft Code of Practice for systemic stablecoin issuers, setting out detailed prudential and backing‑asset rules and confirming joint work with the FCA on an end‑to‑end regime

Compliance Impact

Non‑compliance with the emerging stablecoin regime may result in refusal of authorisation, enforcement directions, restrictions on issuance volumes, and potential wind‑down of stablecoin products, with significant balance‑sheet, reputational and operational consequences. Systemic issuers face heightened supervisory scrutiny and Banking Act enforcement powers, making early alignment with prudential, safeguarding and governance expectations critical.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Operational Resilience / Outsourcing

FintechCrypto ExchangeBank

🇮🇪 CBI Speech

June 30th 2026

Central Bank of Ireland takes further steps to safeguard access to cash

Central Bank of Ireland has today launched a new map showing the location of every ATM and cash service points in the country. The public can now also notify the Central Bank if they believe there is insufficient access to cash in their community. From today (Tuesday 30 June 2026), the public can submit a local deficiency notification through an online form available on the Central Bank's website. The Central Bank will carefully assess each notification, consider the specific circumstances of...

Sectors:

Consumer Protection / Conduct Operational Resilience / Outsourcing

Topics:

BankPayment Provider

🇦🇺 ASIC News

June 30th 2026

NSW restaurateur Giuseppe DeFrancesco first person charged by ASIC with creditor defeating criminal offences

Sectors:

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning critical

June 30th 2026

Warning concerning the website www.hautfortpartners.com

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

All Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇳🇱 AFM News

June 30th 2026

Evaluatie: AFM werkt doelmatig en doeltreffend, ruimte voor verdere verbetering

De Autoriteit Financiële Markten (AFM) is een professionele en doelmatige toezichthouder die haar wettelijke taken doeltreffend uitvoert en aantoonbare resultaten boekt. Dat blijkt uit de onafhankelijke evaluatie van het functioneren van de AFM als zelfstandig bestuursorgaan (zbo) over de periode 2021–2025. In het rapport staan ook aanbevelingen voor verdere verbetering.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber ESG

All Firms

🇬🇧 BoE Guidance medium

June 30th 2026

Statistical Notice 2026/06 - Form PL - updates to definitions

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

The Bank of England has announced changes to the **Form PL (Profit and Loss) definitions**, principally clarifying the treatment of tax line item PL16 / PL.01.01.01 C0010 R1600 to align more closely with ONS UK National Accounts requirements. This matters for compliance and regulatory reporting teams because it affects how income, expenditure and tax on production are classified and reported from Q1 2027, with downstream impacts on UK National Accounts, Balance of Payments statistics and firms’ regulatory reporting controls.

What Changed

- The Bank of England will update the Form PL definitions to improve consistency and alignment with the ONS UK National Accounts requirements, specifically for income and expenditure reporting.
The definition and reporting guidance for tax (PL16 / PL.01.01.01 C0010 R1600) are being revised to clarify the treatment of items classified as taxes on production and related charges.
The updated definitions will apply to all Form PL line items, with particular emphasis on ensuring more precise classification of tax-related items within profit and loss reporting.
The Bank of England does not anticipate major changes in reported figures but expects improved clarity and consistency in how firms map internal accounting data to Form PL categories.
The updated definitions will replace the current Form PL guidance and become the operative standard for all reporting institutions from the Q1 2027 reporting period.

Suggested Considerations

Review the updated Form PL definitions in full once they are published on 31 July 2026 to understand all changes to income, expenditure and tax classification.
Map the revised Form PL tax definition (PL16 / PL.01.01.01 C0010 R1600) to internal chart of accounts and tax reporting structures, ensuring correct identification of taxes on production and related charges.
Update internal regulatory reporting systems, data transformation rules and validation checks to reflect the new Form PL definitions ahead of the Q1 2027 reporting period.
Revise internal reporting policies, procedures and documentation for Form PL to incorporate the updated tax treatment and any other definitional changes.
Train finance, regulatory reporting and data teams on the revised Form PL guidance, with particular focus on the redefined tax items and their distinction from other tax and fee categories.

Key Dates

31 July 2026

- Updated Form PL definitions are scheduled to be published by the Bank of England

Q1 2027

- First reference period for which the updated Form PL definitions are effective

May 2027 DEADLINE

- Submission deadline for Q1 2027 Form PL reporting using the revised definitions and tax treatment

Compliance Impact

Non-compliance with the updated Form PL definitions from Q1 2027 would constitute misreporting to the Bank of England, potentially triggering supervisory scrutiny, data quality queries and remediation requirements. Persistent or material misclassification of tax and income items could affect the integrity of UK macroeconomic statistics and lead to heightened regulatory attention on a firm’s reporting controls.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

BankBroker DealerAll Firms

🇱🇺 CSSF News

June 30th 2026

CSSF Regulation No 26-02 of 30 June 2026 (only in French)

on the setting of the countercyclical buffer rate for the third quarter of 2026

Sectors:

Topics:

Bank

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇯🇵 JFSA News

June 29th 2026

Publication,FSA Weekly Review No.693 June 29, 2026

No description available.

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing ESG

All Firms

🇪🇺 ECB Enforcement high

June 29th 2026

ECB sanctions BIL for breaching ECB decision on internal models

No description available.

AI Analysis

The ECB has imposed a €3.255 million administrative penalty on Banque Internationale à Luxembourg (BIL) for intentionally failing, over three quarters, to apply its approved internal models when calculating expected loss for retail and corporate defaulted exposures, leading to overstated capital and capital ratios. This case is a clear supervisory signal to Significant Institutions and Less Significant Institutions using IRB/internal models that deviations from approved model usage, especially around expected loss and IRB shortfall, will be treated as severe breaches with material sanctions exposure.

What Changed

- The ECB has reaffirmed that institutions using internal ratings-based (IRB) approaches must apply their approved internal models consistently for expected loss calculation on defaulted retail and...
The ECB has underscored that the IRB shortfall (difference between expected loss and accounting provisions) must be correctly calculated and deducted from regulatory capital whenever expected loss...
The ECB has classified intentional failure to apply approved internal models to expected loss calculations as a “severe” breach under its Guide to the method of setting administrative pecuniary...
The enforcement action confirms the ECB’s readiness to use its sanctioning powers under Article 18 of Council Regulation (EU) No 1024/2013 against internal-model users that misreport capital due to...
The case highlights that miscalculation of expected loss and IRB shortfall over multiple reporting periods, even without an explicit capital ratio breach of minima, can be sanctioned where capital...

Suggested Considerations

Review and confirm that all regulatory capital calculations, including expected loss and IRB shortfall for defaulted exposures, consistently use the approved internal models as authorised by the ECB or national competent authority.
Map and reconcile the internal-model implementation across risk systems, finance, and regulatory reporting to ensure that there are no manual overrides, alternative methods, or parallel calculations that deviate from the approved model specifications.
Strengthen model risk governance by ensuring that any proposed changes to expected loss methodologies, including for defaulted retail and corporate portfolios, are formally approved by the competent authority before being used in regulatory capital reporting.
Implement robust controls and periodic testing within Finance, Risk, and Regulatory Reporting functions to detect and prevent misapplication or non-application of approved internal models, with clear escalation procedures for identified discrepancies.
Ensure that the calculation of IRB shortfall (difference between expected loss and accounting provisions) is independently validated and appropriately deducted from CET1 capital in accordance with CRR and ECB internal models guidance.

Key Dates

15 October 2013

- Council Regulation (EU) No 1024/2013 enters into force, granting the ECB sanctioning powers for prudential supervision of credit institutions (contextual basis for this enforcement)

Q4 2023

- Start of the period during which BIL failed to apply its approved internal models to expected loss calculation for defaulted retail and corporate exposures, leading to overstated capital

Q1 2024

- Second consecutive quarter in which incorrect expected loss and IRB shortfall calculations continued to affect reported capital and capital ratios

Q2 2024

- Third consecutive quarter of miscalculation; end of the period identified by the ECB as affected by the breach

29 June 2026

- The ECB publishes its decision imposing an administrative penalty of €3.255 million on BIL for the severe breach of its decision on internal models

Compliance Impact

This enforcement action indicates high supervisory sensitivity to internal model governance and capital reporting, with severe classification and multi-million euro penalties where intentional non-use of approved models leads to overstated capital. Non-compliance can result in significant administrative fines, reputational damage, supervisory remediation measures, and potential legal proceedings before the Court of Justice of the European Union.

References

AI-generated analysis. May contain errors or omissions — verify with the original ECB source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

Bank

🇱🇺 CSSF News

June 29th 2026

Data on exemptions (year 2025)

No description available.

Sectors:

Topics:

All Firms

🇱🇺 CSSF Enforcement medium

June 29th 2026

Data on supervisory measures and administrative penalties (year 2025)

No description available.

AI Analysis

What Changed

- CSSF has published its 2025 supervisory disclosure covering supervisory measures and administrative penalties taken during the year.
The publication serves as a public register-style disclosure of enforcement outcomes, increasing transparency around CSSF supervision and sanctioning activity.
A related 2025 CSSF administrative sanction shows that AML/CFT non-compliance can result in a reprimand under the amended Luxembourg AML/CFT Law.
The 28 July 2025 sanction confirms that CSSF can act where firms fail to maintain adequate professional AML/CFT obligations and related internal controls.

Suggested Considerations

Review the firm’s AML/CFT control framework against the Luxembourg AML/CFT Law provisions that can trigger CSSF reprimands or sanctions, including governance, monitoring, and escalation controls.
Verify that suspicious activity detection, investigation, and escalation procedures are documented, implemented, and tested for effectiveness.
Reassess whether internal controls are sufficient to demonstrate timely compliance with professional AML/CFT obligations under CSSF supervision.
Update remediation tracking to ensure supervisory findings are closed out promptly and supported by evidence of corrective action.
Brief senior management on the reputational impact of public supervisory disclosures and ensure that recurring weaknesses are escalated to the board.

Key Dates

Topics:

All Firms

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇬🇧 FCA News

June 29th 2026

Non-UK business removed from Consumer Duty scope to reduce burdens on wholesale businesses

Wholesale financial businesses involved in retail markets will find it easier to comply with the Consumer Duty, following proposals from the FCA. The changes are part of the FCA's plans to give wholesale firms the confidence to apply the Duty proportionately. Under the proposals, firms will benefit from:Removing business for genuinely non-UK customers from the Duty’s scope where there is no clear UK link or reasonable expectation of UK protection.Clearer boundaries around what is out of scope...

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Crypto & Digital Assets

🇱🇺 CSSF Warning critical

June 29th 2026

Warning concerning the website www.tresorwacht.com

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

All Firms

Banking & Credit Payments & E-Money Investment Management

🇸🇬 MAS News

June 29th 2026

MAS Invites Applications for 2026 Global FinTech Hackcelerator and FinTech Excellence Awards

MAS announced a call for applications and nominations for the 2026 Global FinTech Hackcelerator and the Singapore FinTech Festival FinTech Excellence Awards.

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Operational Resilience / Outsourcing

FintechBankWealth Manager

🇯🇵 JFSA News

June 26th 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services (June 16, 2026)

No description available.

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

All Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇮🇪 CBI Enforcement high

June 26th 2026

Loan Empower Solutions- Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Retail Credit Firm Unauthorised Firm Name Loan Empower Solution Website https://www.lesolution.eu Purported address The Merrion Buildings, 18–20 Merrion Street, Dublin 2, D02 XH98, Ireland Email address used contact@lesolution.eu Phone number used +49 30 1234 5678 Authorisation in Ireland Loan Empower Solution is not authorised as a retail credit firm in Ireland. Additional information Loan Empower Solution appears to be engaged in ‘advanced fee fraud’, where a payment i...

AI Analysis

The Central Bank of Ireland (CBI) has issued a formal warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **Loan Empower Solution**, an unauthorised firm purporting to offer retail credit from a Dublin address while apparently engaging in **advance fee fraud**. This reinforces supervisory expectations that authorised firms operating in or into Ireland must have robust controls around unauthorised-firm risk, fraud referrals, and customer communications, particularly where clone or bogus “retail credit” offerings are involved.

What Changed

- The CBI has added Loan Empower Solution (website: lesolution.eu) to its public list of unauthorised firms and explicitly categorised it as an unauthorised retail credit firm operating without the...
The CBI has publicly stated that Loan Empower Solution appears to be operating an advance fee fraud model, where upfront payments are requested for credit services that are never provided.
The CBI has confirmed that the firm is using a purported Irish business address (The Merrion Buildings, 18–20 Merrion Street, Dublin 2, D02 XH98), a non-Irish telephone number, and a specified...
The firm’s name has been published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, reaffirming the CBI’s use of its statutory power to publicly identify entities...
The CBI has directed the public to its unauthorised firms search and financial scams information pages, implicitly reinforcing expectations that firms promote use of these tools in their consumer...

Suggested Considerations

Review and update internal unauthorised-firm and scam monitoring procedures to ensure Loan Empower Solution and its identifiers (name, website, address, email, telephone number) are captured in watchlists, fraud rules, and staff guidance.
Screen recent and ongoing customer transactions and communications for any references to Loan Empower Solution or similar lending scams requesting upfront “loan fees”, and escalate any matches to fraud and compliance teams.
Update customer-facing communications and website scam warnings to highlight the risk of advance fee fraud in retail credit, referencing the need to check the CBI registers and unauthorised-firms list before engaging with lenders.
Ensure call centre, branch, and digital support staff are trained to identify and respond to customers approached by unauthorised lenders, including how to advise customers to verify authorisation status on the CBI website and to report suspected scams.
Incorporate checks against the CBI unauthorised firms search into onboarding, due diligence, and third-party risk management processes for any lending-related partnerships, introducers, or lead generators.

Key Dates

26 June 2026

- CBI publishes the warning notice against Loan Empower Solution as an unauthorised retail credit firm and lists the firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

Non-compliance primarily exposes firms to conduct and financial crime risk, including facilitating fraud, failing to protect vulnerable customers, and weaknesses in perimeter controls, which can lead to CBI supervisory findings, reputational damage, and potentially enforcement action for systemic failures. The enforcement signalling is material for any firm active in retail credit or payments, and boards and senior managers responsible for consumer and financial crime risk should treat unauthorised-firm exposure as a priority issue.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechPayment Provider

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇱🇺 CSSF Consultation medium

June 26th 2026

Public consultation by FATF by 21 August 2026 on guidance to increase payment transparency - “travel rule”

No description available.

AI Analysis

FATF has launched a public consultation, flagged by the CSSF, on new **guidance for implementing the revised FATF Recommendation 16 (“travel rule”)**, with the objective of significantly increasing payment transparency by 2030. This consultation will shape how jurisdictions and supervisors (including Luxembourg/CSSF) expect payment and virtual asset flows to carry and use originator/beneficiary data, so compliance teams should treat this as an early signal of future mandatory AML/CTF requirements for both fiat and virtual asset transfers.

What Changed

*(Based on the CSSF notice plus the 2025 FATF revisions to Recommendation 16 and existing travel‑rule standards; details may be further refined by the new guidance now under consultation.)*
FATF is issuing implementation guidance for the updated Recommendation 16, which already increased obligations regarding payment transparency, including more granular beneficiary data and expanded...
Cross‑border payments and value transfers above 1,000 USD/EUR are expected to include additional mandatory beneficiary information, such as beneficiary name, account or unique reference, and at least...
Beneficiary institutions are given enhanced responsibilities to use travel‑rule information (not just receive it) for transaction monitoring, including detecting misdirected payments and indicators...
The revised travel rule continues to apply to both traditional wire transfers and value transfers involving virtual assets, reinforcing that Virtual Asset Service Providers (VASPs) must collect,...

Suggested Considerations

Map and document all existing and planned cross‑border payment and value‑transfer flows (including virtual asset transfers) to identify where FATF Recommendation 16 and travel‑rule obligations currently apply or will apply by 2030.
Review the June 2025 FATF modifications to Recommendation 16 and the current consultation materials, and perform a gap analysis against your existing AML/CTF, KYC and payments data standards, including thresholds, data fields, and monitoring use‑cases.
Establish an internal project for travel‑rule implementation and enhancement that spans AML, operations, technology, legal and data‑protection teams, with explicit ownership and governance.
Strengthen beneficiary‑side transaction‑monitoring rules to use incoming travel‑rule data for sanctions, fraud and AML detection, including controls to identify misdirected or unusual payments based on name, location, and other attributes.
Review and, where necessary, update customer due diligence and KYC procedures to ensure the availability and verification of data fields that will be required to travel with transactions (for example, address, town and country, identification numbers, date of birth).

Key Dates

18 June 2025

- FATF adopts modifications to Recommendation 16 to enhance payment transparency, including strengthened travel‑rule standards

24 June 2026

- FATF launches public consultation on guidance for the implementation of the updated Recommendation 16

21 August 2026 DEADLINE

- FATF public consultation period closes; this is the deadline for private‑sector contributions highlighted by the CSSF

End 2030

- FATF’s revised Recommendation 16 framework is expected to be fully effective, with jurisdictions having implemented the standard into national law or regulation by this date

Compliance Impact

Non‑compliance with the revised travel‑rule expectations will materially increase the risk of supervisory criticism, enforcement action, and restrictions on cross‑border business, especially in higher‑risk client segments and payment corridors. Failure to implement adequate data‑collection and monitoring capabilities may also compromise sanctions and AML controls, leading to heightened legal, financial and reputational exposure.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Deadline: 21 August 2026

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Technology & Cyber

BankPayment ProviderCrypto Exchange

🇪🇺 ECB News medium

June 26th 2026

List of supervised entities - Cut-off date 1 May 2026

No description available.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

BankAll Firms

🇪🇺 ECB Guidance medium

June 26th 2026

ECB streamlines supervisory guidance to improve clarity and transparency

No description available.

AI Analysis

The ECB has launched a **comprehensive clean‑up and re‑classification of all its supervisory guidance** (guides, reports, letters, methodologies) to streamline content, remove outdated expectations and explicitly underline that these documents are **non‑binding**. This matters for compliance teams because it changes the **reference set of applicable ECB expectations**, clarifies the status of “supervisory guidance” versus hard law, and introduces targeted revisions in key areas such as ICAAP management buffers, internal models, CRR III implementation and licensing processes.

What Changed

- The ECB is conducting a comprehensive review of around 130 supervisory publications (guides, reports, letters, methodologies) to assess their relevance, effectiveness and clarity and to align them...
Approximately 40 supervisory documents have been classified as outdated, superseded or no longer relevant and have been formally discontinued, with the texts remaining accessible but clearly labelled...
The ECB has updated its classification of supervisory guidance documents to emphasise explicitly that they are non‑binding, do not create new legal obligations and do not replace binding EU or...
The Guide to the internal capital adequacy assessment process (ICAAP Guide) will be revised to clarify supervisory expectations on the management buffer, explicitly positioning it as the bank’s own...
The ECB has removed all content on supervisory expectations for the credit conversion factor (CCF) from the Guide to internal models, in anticipation of forthcoming EBA guidelines on CCF, thereby...

Suggested Considerations

Review the ECB press release and associated lists of discontinued publications to identify any ECB guides, reports, letters or methodologies currently referenced in your internal policies, risk frameworks or model documentation that are now labelled as discontinued.
Update internal policy inventories, regulatory mapping and compliance registers to reflect the new classification of ECB supervisory guidance as non‑binding and to distinguish clearly between binding EU/national law and non‑binding ECB expectations.
For banks using the ICAAP Guide, perform a gap analysis of capital planning and management buffer practices against the forthcoming clarified expectations, ensuring internal documentation clearly differentiates management buffers from Pillar 2 requirements and guidance.
For institutions using internal models for credit risk, remove any reliance on the ECB’s former CCF expectations by re‑mapping modelling policies and documentation to forthcoming EBA guidelines on credit conversion factors and to CRR/CRD provisions, once those guidelines are finalised.
For risk and finance functions, review the CVA treatment in internal capital and risk methodologies to verify alignment with CRR III and ensure that internal references to ECB guidance (assessment methodology, materiality assessment) are updated to reflect the removed CVA content.

Key Dates

26 June 2026

- ECB announces the comprehensive review of around 130 supervisory guidance publications, confirms discontinuation of about 40 outdated documents, and signals targeted and in‑depth revisions for the remaining guidance set

Q3 2026 (approx.)

The Bank of England and PRA are both Prescribed Persons as defined by Parliament under The Public Interest Disclosure (Prescribed Persons) Order 2014.

AI Analysis

The Bank of England and PRA, as Prescribed Persons under the Public Interest Disclosure (Prescribed Persons) Order 2014, have published their whistleblowing annual report for the period 1 April 2025 – 31 March 2026, in line with the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017. The report confirms continued operationalisation of whistleblowing channels, the assessment of disclosures under PIDA, and the systematic sharing of all disclosures (protected and non‑protected) with supervisors, which materially elevates supervisory and enforcement risk for PRA‑regulated firms.

What Changed

- Prescribed Persons reporting obligations under the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017 continue to apply, requiring the Bank and PRA to publish, within six...
For the 2025/26 period, the Bank and PRA report that 271 disclosures were received and assessed against the Public Interest Disclosure Act 1998 and their own statutory requirements to determine...
Of the 271 disclosures, 257 were reasonably believed to be protected disclosures within Part IVA of the Public Interest Disclosure Act 1998 and within the Bank’s and PRA’s remit as Prescribed...
Fourteen disclosures were assessed as not protected, including disclosures about firms not regulated by the Bank or PRA, issues outside the Bank’s or PRA’s regulatory remit, and individuals who do...
Regardless of statutory protection status, the Bank and PRA’s whistleblowing team provided supervisory colleagues with all disclosures (protected and non‑protected) for consideration or for...

Suggested Considerations

Establish clear internal processes for responding when the PRA or Bank contacts the firm following a whistleblowing disclosure, including immediate escalation to Compliance, Legal, and relevant Senior Managers, coordinated responses, and robust documentation of remedial actions.

Key Dates

01 April 2025

- Start of the reporting period for the Bank of England and PRA’s 2025/26 Prescribed Persons whistleblowing report

31 March 2026

- End of the reporting period for the 2025/26 whistleblowing disclosures referenced in the Bank and PRA report

By 30 September 2026 (within six months of 31 March 2026) DEADLINE

- Latest date by which the Bank and PRA are required under the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017 to publish the written annual report on disclosures for the 2025/26 period

Compliance Impact

Non‑compliance with robust whistleblowing arrangements and failure to address issues raised by whistleblowers can significantly increase prudential and conduct risk, trigger intensified supervisory scrutiny, and lead to enforcement action, including fines, business restrictions, and personal consequences for senior management under SMCR. The fact that all whistleblowing disclosures, including non‑protected ones, are provided to PRA supervisors amplifies the likelihood that unresolved internal issues will surface in firm‑specific supervisory reviews and risk assessments.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Senior Managers / Governance

Topics:

BankInsuranceAll Firms

Payments & E-Money Banking & Credit

🇬🇧 PRA Enforcement medium

June 25th 2026

Enforcement Decision Making Committee Report 2025/26

This Enforcement Decision Making Committee (EDMC) annual report covers the period of 1 March 2025 to 28 February 2026.

AI Analysis

The PRA’s EDMC annual report confirms that contested enforcement decisions remain structurally separated from investigation teams and executive decision-makers, with the EDMC acting as the independent final administrative decision-maker before any Upper Tribunal referral. For compliance teams, the key message is not a new rule change, but a reminder that PRA enforcement cases are handled through a formal, disclosure-heavy process with written and oral representations and an independent review of settled cases.

What Changed

- The EDMC completed its annual reporting cycle for the period 1 March 2025 to 28 February 2026, confirming the continued operation of the PRA’s contested-case decision framework.
The report confirms that the EDMC continues to provide functional separation between investigation/enforcement staff and decision-makers in PRA contested enforcement cases.
The report confirms that the EDMC’s role covers enforcement cases under the Bank’s statutory regimes for prudential regulation, financial market infrastructure, resolution, securitisation, wholesale...
The EDMC confirms that contested enforcement decisions are made independently, with disclosure of relevant material and the opportunity for both written and oral representations.
The EDMC confirms that its decision is the final stage of administrative decision-making in contested PRA enforcement cases, after which the subject may refer the matter to the Upper Tribunal.

Suggested Considerations

Review your firm’s PRA enforcement response plan to ensure it supports rapid collection, review, and production of material that may be disclosed in a contested case.
Ensure legal and compliance teams are prepared to make both written and oral representations to the EDMC if the firm becomes subject to a contested enforcement matter.
Confirm that internal governance provides for independent escalation and board-level oversight when a PRA investigation enters the decision stage.
Maintain an updated settlement strategy for PRA matters, including documented positions on fairness, scope of admissions, and mitigation, because the EDMC may review settlement processes retrospectively.
Map exposure across all PRA enforcement regimes relevant to the business, including prudential regulation, FMI, resolution, securitisation, wholesale cash distribution, critical third parties, and S&NI banknote matters.

Key Dates

01 March 2025

- Start of the reporting period covered by the EDMC annual report

Summer 2026 DEADLINE

Today marks a major milestone in the modernisation of the UK's payments landscape, with the Retail Payments Infrastructure Board (RPIB) launching a consultation on the future design of the UK's next-generation retail payments infrastructure.

AI Analysis

The Bank of England‑chaired Retail Payments Infrastructure Board (RPIB) has launched a formal consultation on the **design of the next‑generation UK retail payments infrastructure**, with responses due by 11 September 2026. This is a strategic, upstream change that will reshape core retail interbank rails (Faster Payments, Bacs, cheques) to support account‑to‑account point‑of‑sale payments, enhanced cross‑border functionality and a multi‑money ecosystem, creating significant medium‑term impacts for payment firms’ technology, access models, fraud controls and operational resilience.

What Changed

- The RPIB has opened a consultation to develop a high‑level “blueprint” for the future UK retail payments infrastructure, which will underpin the National Payments Vision and inform the design to be...
The consultation scope explicitly covers payment journeys, key design choices and priorities for the next‑generation infrastructure, rather than setting immediate prescriptive rules for firms.
The next‑generation infrastructure is intended to support new payment methods, including account‑to‑account payments at the point of sale (in‑store and online) as a complement to card payments, and...
Existing retail interbank payment systems (Faster Payments, Bacs, Image Clearing System) operated by Pay.UK will continue to run safely and resiliently during the transition, implying a multi‑year...
The new infrastructure is being designed to support a multi‑money ecosystem, including existing commercial bank money and emerging forms of digital money (e‑money, tokenised deposits, systemic...

Suggested Considerations

Identify internal stakeholders (payments product, technology, operations, legal, compliance, risk) and establish a formal project to coordinate your firm’s response to the RPIB consultation.
Perform a gap analysis of your firm’s current use of Faster Payments, Bacs and cheque imaging, focusing on account‑to‑account capabilities, cross‑border flows, fraud and financial crime controls, customer authentication and operational resilience.
Map and document key payment journeys relevant to your firm (e.g. point‑of‑sale account‑to‑account payments, bill payments, peer‑to‑peer transfers, ecommerce, cross‑border transactions) to enable substantive feedback on user needs and design priorities.
Assess your firm’s strategic interest in account‑to‑account payments at the point of sale and enhanced cross‑border services, and identify functional requirements (APIs, messaging, reconciliation, chargeback‑like protections) that should be reflected in the consultation response.
Review emerging regulatory publications under the National Payments Vision and Payments Forward Plan to ensure your consultation input aligns with expected regulatory outcomes on access, competition, resilience and innovation.

Key Dates

15 July 2025

– Payments Vision Delivery Committee agrees the new public‑private model to deliver the next‑generation UK retail payments infrastructure under the National Payments Vision

Late 2026

– HM Treasury and the Bank of England are expected to publish conclusions on whether, and in what form, to proceed with a digital pound, which will influence infrastructure design and multi‑money functionality (date inferred as “later this year”)

25 June 2026

– Retail Payments Infrastructure Board consultation on the design of the future UK retail payments infrastructure is launched

11 September 2026 DEADLINE

– Deadline for stakeholders to submit responses to the RPIB consultation on the next‑generation retail payments infrastructure

Compliance Impact

Non‑participation or limited engagement in this consultation increases the risk that future mandatory infrastructure changes will be misaligned with your business model, creating costly remediation, migration risks and potential non‑compliance with future access, resilience and fraud‑control obligations. In the medium term, failure to adapt systems, controls and governance to align with the redesigned infrastructure and National Payments Vision outcomes could threaten your ability to access core payment systems and maintain regulatory permissions.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Senior Managers / Governance

Payment ProviderBankFintech

Banking & Credit Insurance & Pensions Investment Management

🇬🇧 BoE Enforcement medium

June 25th 2026

A sea change in regulatory investigations and enforcement − speech by David Chaplin

Given at the 5th Conference on Financial Law and Regulation, University of Leeds School of Law, 24 June 2026

AI Analysis

David Chaplin says the PRA is seeing a “sea change” in enforcement cases because firms and individuals are now engaging earlier, identifying breaches proactively, and remediating sooner. This matters because the PRA is formalising a more efficient investigative model that rewards early factual cooperation and early admissions, which can materially affect settlement outcomes and overall enforcement exposure.

What Changed

- The PRA is now explicitly encouraging earlier engagement by investigation subjects, including proactive identification, acknowledgement, and remediation of breaches.
The familiar enforcement pattern is changing from a late-stage admission model toward a front-loaded investigative model in which firms provide information earlier in the process.
The PRA’s enforcement approach now places greater emphasis on written factual accounts and supporting materials during the initial investigative stage.
Firms that participate early and make early admissions may obtain enhanced settlement discounts, while non-participants remain on a lower discount path.
The Bank says this is not a new policy launch but an explanation of how the existing approach is operating in practice across live cases.

Suggested Considerations

Review current investigation-response procedures to ensure the firm can produce a factually complete written account and supporting evidence at short notice.
Build escalation protocols that trigger early internal fact-finding when a potential prudential breach is identified.
Train relevant staff to distinguish between cooperation, factual admissions, and without-prejudice settlement positions so that engagement does not inadvertently prejudice legal strategy.
Reassess whether current incident-management playbooks are aligned with the PRA’s expectation of early candour and remediation.
Ensure legal, compliance, and business stakeholders can rapidly agree on breach acknowledgment, remediation steps, and document preservation.

Key Dates

May 2023

- The PRA published Consultation Paper CP9/23, which proposed changes later reflected in the updated enforcement approach

30 January 2024

- The Bank of England unveiled changes to the PRA’s enforcement approach, including the Early Account Scheme and the Enhanced Settlement Discount

24 June 2026

- David Chaplin delivered the speech at the 5th Conference on Financial Law and Regulation at the University of Leeds School of Law

Compliance Impact

Non-compliance with the PRA’s expectations can increase the likelihood of a more intrusive investigation, weaker settlement leverage, and exposure to formal sanctions, including censures, financial penalties, suspensions, and individual prohibitions. The speech indicates that firms that fail to engage early may lose access to the practical benefits now emerging in enforcement handling.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Reporting & Disclosure Prudential / Capital Requirements

BankInsuranceAsset Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇱🇺 CSSF Guidance high

June 25th 2026

Circular CSSF 26/914

Identification of obliged entities eligible for direct supervision by AMLA

AI Analysis

Circular CSSF 26/914 identifies which Luxembourg obliged entities fall within the perimeter for **potential direct supervision by the future EU Anti-Money Laundering Authority (AMLA)**, as part of the new EU-level AML/CFT supervisory architecture. This matters for compliance teams because in‑scope entities will face an additional EU supervisory layer, more intrusive AML/CFT oversight, and will need to prepare for alignment with AMLA’s methodologies, data requirements, and enforcement practices.

What Changed

- The CSSF formally identifies Luxembourg “obliged entities” under AML/CFT law that are potentially eligible for direct AMLA supervision, clarifying which categories of firms fall into the EU‑level...
The circular operationalises, at CSSF level, the EU allocation mechanism for direct supervision, building on Regulation (EU) 2024/… establishing AMLA and the forthcoming directly applicable AML...
The CSSF establishes a process for providing information to AMLA on Luxembourg obliged entities (e.g. size, cross‑border activities, risk profile) to support AMLA’s periodic selection and review of...
The circular clarifies that CSSF‑supervised entities identified as “eligible” remain under CSSF supervision unless and until AMLA formally designates them for direct supervision, at which point AMLA...
The circular anticipates enhanced data and reporting requirements for entities assessed as eligible for AMLA direct supervision, including more granular information on cross‑border business,...

Suggested Considerations

Determine whether your firm is likely to fall within the “eligible for AMLA direct supervision” perimeter by assessing your cross‑border footprint, ML/TF risk profile, group structure, and relative size against AMLA’s high‑risk and cross‑border criteria.
Review and update the firm‑wide AML/CFT risk assessment to ensure it is robust, data‑driven, and aligned with an EU‑level supervisory perspective, including explicit consideration of cross‑border risks, complex group structures, and high‑risk products.
Strengthen AML/CFT governance and oversight, including Board and senior management reporting, to demonstrate clear ownership of ML/TF risk, documented risk appetite, and effective challenge consistent with what AMLA expects from directly supervised entities.
Review and, where necessary, enhance customer due diligence, transaction monitoring, screening and suspicious activity reporting frameworks to withstand more intrusive and harmonised EU‑level scrutiny.
Map and document cross‑border business lines and passporting activities (branches, agents, tied intermediaries, distributors) to ensure you can provide complete and up‑to‑date information to the CSSF and AMLA on request.

Key Dates

TBD (from AMLA operational go‑live date in 2025–2026)

- AMLA formally designates its first batch of directly supervised obliged entities at EU level, potentially including entities identified under this circular

25 June 2026

- CSSF publishes Circular 26/914 identifying obliged entities eligible for direct supervision by AMLA and setting the framework for Luxembourg’s contribution to AMLA’s selection and supervisory process

TBD (periodic, post‑AMLA go‑live)

- Periodic reviews by AMLA and the CSSF of eligible entities’ status and updates to the list of entities subject to, or proposed for, direct AMLA supervision

Compliance Impact

The compliance impact is high for any entity that is, or may become, eligible for AMLA direct supervision, given the likely increase in supervisory intensity, data expectations, and EU‑level enforcement risk. Non‑compliance could result in sanctions from both AMLA and national authorities, including significant administrative fines, business restrictions, remediation mandates, and reputational damage across the EU.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Senior Managers / Governance

BankPayment ProviderCrypto Exchange

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇨🇦 OSFI News

June 25th 2026

Sectors:

Topics:

Authorisation & Licensing Technology & Cyber Operational Resilience / Outsourcing

All Firms

🇬🇧 BoE Speech

June 24th 2026

Running on empty: Climate risks and the fragility of global energy and food supply chains − speech by Swati Dhingra

Given at the World Resources Institute, London

Sectors:

ESG Prudential / Capital Requirements

Topics:

BankAll Firms

🇪🇺 ECB News

June 24th 2026

Patrick Montagner: When fragmentation creates complexity

No description available.

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing

Topics:

Bank

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 FCA Speech

June 24th 2026

Rethinking regulation for the age of AI

Speech by Nikhil Rathi, FCA chief executive at techUK's Agents of Change: Generative and Agentic AI in Financial Services 2026. On joining the FCA over five years ago, I said we would become as much a data and tech regulator as financial services regulator.Being invited to speak here today reflects that.We’re building the future together, and nowhere is that clearer than on AI.Studies suggest more than 80% of financial services firms are already adopting AI.So the question now is about scale....

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Market Abuse / Surveillance

All Firms

🇦🇪 ADGM News

June 24th 2026

Perez Llorca Launches Operations In Abu Dhabi

Sectors:

Topics:

All Firms

Banking & Credit Investment Management Payments & E-Money

🇦🇺 ASIC News

June 24th 2026

1) high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed2) jurisdictions under increased monitoring of the FATFVersion of 19 June 2026

AI Analysis

CSSF published a new **Annex to Circular CSSF 22/822** on **22 June 2026**, updating the Luxembourg regulator’s reference list of FATF **high-risk jurisdictions** and **jurisdictions under increased monitoring**. For compliance teams, this matters because AML/CFT country-risk scoring, enhanced due diligence triggers, and sanctions-style controls must be aligned to the current FATF position reflected by CSSF.

What Changed

- CSSF republished the annex to Circular CSSF 22/822 in a Version of 19 June 2026, meaning firms should treat this as the current Luxembourg reference point for FATF jurisdiction screening and...
The annex distinguishes between high-risk jurisdictions subject to enhanced due diligence and, where appropriate, counter-measures, and jurisdictions under increased monitoring that require...
The publication incorporates the FATF’s current statements on jurisdictions with strategic AML/CFT/CPF deficiencies, which is the basis for operational country-risk controls used by...
The related Circular CSSF 22/822 remains the framework document that instructs professionals to use FATF statements when assessing jurisdictional ML/TF/PF risk.

Suggested Considerations

Review your AML/CFT country-risk methodology and update it to reflect the 19 June 2026 FATF/CSSF jurisdiction list.
Re-screen customers, beneficial owners, counterparties, and transactions against the updated high-risk and monitored jurisdiction lists.
Apply enhanced due diligence for relationships and transactions involving high-risk jurisdictions, and escalate where counter-measures may be required.
Reassess risk ratings for customers linked to jurisdictions under increased monitoring and document the rationale for any continued onboarding, retention, or exit decisions.
Update automated screening rules, transaction-monitoring scenarios, and onboarding checklists so they use the current CSSF annex version.

Key Dates

27 October 2022

- Circular CSSF 22/822 was issued, establishing the framework for using FATF statements on high-risk jurisdictions and jurisdictions under increased monitoring

19 June 2026

- The annex was updated to this version date, reflecting the current FATF jurisdiction lists and associated risk posture

22 June 2026

- CSSF published the annex on its website, making the updated reference document operationally relevant for supervised firms

Compliance Impact

Non-compliance can lead to supervisory findings, remediation orders, and possible enforcement action where firms fail to apply risk-sensitive AML controls consistent with CSSF/FATF expectations. The practical impact is highest for onboarding, correspondent-like relationships, cross-border payments, and any business line exposed to higher-risk jurisdictions.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerFintech

Banking & Credit Investment Management Insurance & Pensions

🇮🇪 CBI Consultation medium

June 22nd 2026

Central Bank launches consultation on evolving regulation

The Central Bank of Ireland has today launched a public consultation seeking views on its approach to Regulatory Impact Assessment (RIA) and on its approach to consultation with stakeholders. The consultation forms part of the Central Bank’s ongoing work to deliver a more effective and efficient regulatory framework, building on our recent new supervisory approach and roadmap of regulatory initiatives . It reflects the Central Bank’s commitment to ensuring that regulation remains clear, coher...

AI Analysis

The Central Bank of Ireland (CBI) has launched a public consultation (closing 30 September 2026) on its **Regulatory Impact Assessment (RIA) framework** and on how it consults with stakeholders, as part of its wider programme to make Irish financial regulation more effective, efficient, and proportionate. For compliance teams, this is a key opportunity and a warning: the way the CBI designs, justifies, consults on, and reviews future rules will be formalised and made more evidence‑based, which will directly affect the cost, complexity, and predictability of future regulatory change across all sectors.

What Changed

- The CBI has opened a public consultation on its approach to Regulatory Impact Assessment (RIA), seeking views on how it should weigh evidence, assess costs and impacts, and structure its analysis...
The consultation also covers the CBI’s approach to stakeholder consultation, including how it engages with industry, civil society, consumer representatives, the public, policymakers, and peer...
The initiative sits within the CBI’s broader “more effective and efficient regulatory framework” programme, which includes a new supervisory approach and a roadmap of regulatory initiatives,...
The CBI aims to make regulation clear, coherent and proportionate, explicitly linking rule‑making to protections for consumers, investors, and financial stability, and to the resilience of the...
The CBI is moving towards a more structured, transparent, and evidence‑based policymaking process, where the rationale for regulatory interventions, the analysis of options, and the assessment of...

Suggested Considerations

Conduct an internal review of your firm’s experience with recent CBI consultations (e.g. Consumer Protection Code, governance, outsourcing, AML, reporting) and document challenges, costs, and data gaps that could be addressed through a more robust RIA and consultation framework.
Prepare and submit a response to the CBI consultation by 30 September 2026, either directly or via relevant industry associations, setting out detailed expectations on how RIA should address compliance costs, operational impacts, proportionality for smaller firms, and implementation lead times.
Update your regulatory affairs or public policy strategy to explicitly incorporate the emerging CBI RIA framework, including criteria for when to engage, escalation thresholds for high‑impact proposals, and internal approval processes for consultation submissions.
For Irish‑authorised groups operating cross‑border, align your approach to CBI RIA engagement with EU‑level impact assessment practices (e.g. European Commission and ESAs) to ensure consistency in messaging and evidence on cumulative regulatory burden and competitiveness.
Monitor subsequent CBI publications (including the forthcoming feedback statement, revised Corporate Governance Codes, and sectoral plans) to identify where the new RIA framework is being applied and to anticipate where the CBI may seek additional data or structured feedback from firms.

Key Dates

10 December 2025

– CBI publishes its roadmap “Regulating & Supervising Well – a more effective and efficient framework”, committing to a public consultation on a new Regulatory Impact Assessment (RIA) Framework in H1 2026 and outlining a multi‑year programme of regulatory and supervisory reforms from H1 2026 to H1 2028

22 June 2026

– CBI launches the public consultation on its approach to RIA and stakeholder consultation, alongside references to its new supervisory approach and roadmap of regulatory initiatives

H1 2026

– Target window identified in the roadmap for the public consultation on the new RIA Framework; this is now operationalised by the consultation launched on 22 June 2026

TBD (post‑30 September 2026)

– CBI will consider all submissions and publish a feedback statement setting out its finalised approach to RIA and consultation, which will then guide the design of future regulatory initiatives

H2 2026

– Roadmap foresees drafting of revised Corporate Governance Codes for consultation, which are likely to be shaped by, and potentially used to pilot, the new RIA framework and consultation approach once finalised

Compliance Impact

In the short term, the consultation does not impose new binding obligations but shapes the procedural framework for all future CBI rule‑making, making early engagement strategically important for managing long‑term compliance cost and regulatory uncertainty. Over the medium term, once the RIA and consultation frameworks are finalised, firms that fail to engage effectively in consultations may find themselves facing more onerous or misaligned requirements with limited scope for later challenge or adjustment.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerInsurance

Banking & Credit Capital Markets & Trading Investment Management

🇮🇪 CBI Speech

June 22nd 2026

Better decisions, better regulation, better outcomes

Good regulation matters. It matters for consumers and for investors. It matters for firms and the wider economy, and for resilience and the stability of the financial system. In the Central Bank, regulation is central to how we deliver our safeguarding outcomes: protecting consumers and investors, maintaining financial stability, supporting the safety and soundness of firms, and protecting the integrity of the financial system. As I have said before, good regulation should be forward looking,...

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Reporting & Disclosure

All Firms

🇱🇺 CSSF Guidance medium

June 22nd 2026

Circular CSSF 26/913

Application of the Guidelines of the European Banking Authority on ancillary services undertakings specifying the criteria for the identification of activities referred to in Article 4(1)(18) of Regulation (EU) No 575/2013 (EBA/GL/2026/01)

AI Analysis

What Changed

- The CSSF has formally applied the EBA Guidelines on ancillary services undertakings specified in EBA/GL/2026/01 for identifying activities under Article 4(1)(18) of Regulation (EU) No 575/2013.
Firms must assess whether a non-bank activity or group entity qualifies as an ancillary services undertaking under the EBA criteria, rather than relying on internal labels or informal business...
The regulatory perimeter analysis now needs to consider whether relevant activities are performed within a banking group in a way that affects prudential consolidation and supervisory treatment.
Institutions should expect the CSSF to use the EBA framework as the benchmark for determining whether an activity is sufficiently connected to banking support functions to fall within the ancillary...
Compliance evidence will need to show a documented, reproducible assessment of each potentially relevant activity against the EBA identification criteria.

Suggested Considerations

Review all group entities and business lines to identify activities that may fall within the definition of an ancillary services undertaking under Article 4(1)(18) CRR.
Document a formal assessment methodology for classifying activities against the EBA/GL/2026/01 criteria.
Reconfirm the prudential consolidation perimeter and ensure all ancillary service entities are correctly included or excluded, with the reasoning retained for supervisory review.
Update legal entity inventories, regulatory mapping, and governance documents so they align with the CSSF’s adopted EBA framework.
Test whether existing internal reporting, risk management, and control frameworks capture any newly identified ancillary services undertakings.

Key Dates

22 June 2026

- Circular CSSF 26/913 is published and the CSSF confirms application of EBA/GL/2026/01

TBD (effective date not stated in the publication)

- Firms should apply the CSSF’s expectations from the date the circular becomes applicable, if that date is specified in the full circular text or accompanying CSSF notice

TBD (implementation date not stated in the publication)

- Affected firms should complete internal perimeter reviews and any resulting governance or reporting updates by the first supervisory reporting cycle after application

Compliance Impact

The compliance impact is moderate to high because the main risk is misclassification of entities or activities within the prudential perimeter, which can lead to supervisory findings, reporting errors, or consolidation issues. Non-compliance may result in CSSF remediation expectations, delayed approvals, or corrective supervisory action if a firm’s entity mapping is inconsistent with the EBA criteria.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Senior Managers / Governance Reporting & Disclosure

Topics:

BankAll Firms

🇬🇧 BoE Consultation high

June 22nd 2026

Bank of England launches policy statement and draft rules on regulating systemic stablecoins

The Bank of England has today published its policy statement and draft Code of Practice (rules) for systemic stablecoin issuers.

AI Analysis

The Bank of England has issued a policy statement and draft **Code of Practice** setting out the prudential and conduct framework for **sterling‑denominated systemic stablecoin issuers**, replacing earlier consultation proposals with a more business‑viable model. For compliance teams, the key changes are a revised backing‑asset composition (70% gilts / 30% BoE deposits vs the previously consulted 60%/40%) and a shift from **per‑holder limits** to a **£40 billion per‑coin issuance guardrail**, plus a clear timetable to finalise rules by end‑2026 and enable UK‑regulated systemic stablecoins from 2027.

What Changed

- The Bank of England has published a policy statement “Sterling‑denominated systemic stablecoins” (22 June 2026) and a draft Code of Practice that will constitute the primary rulebook for systemic...
The regime applies only to systemic sterling‑denominated stablecoins used for UK payments, i.e. stablecoins recognised as systemic under Banking Act 2009 tests where disruption could threaten UK...
The previous proposal that at least 40% of backing assets be unremunerated central bank deposits and up to 60% in short‑term UK government debt has been revised so that up to 70% of backing assets...
Backing assets must remain highly liquid and low‑risk, with central bank deposits used explicitly to support prompt redemption in stress, while the expanded gilt component is intended to improve the...
The BoE has dropped the earlier concept of temporary per‑holder limits (for example, £20,000 per individual and £10 million per business that were consulted on in 2025) and replaced them with a...

Suggested Considerations

Conduct a regulatory perimeter and recognition analysis to determine whether any issued or planned sterling‑denominated stablecoin could meet the Banking Act 2009 systemic tests and therefore fall under the BoE systemic stablecoin regime.
Review and update treasury and investment policies for stablecoin backing assets to ensure the portfolio structure can comply with the revised requirement of up to 70% short‑term UK government debt and the remainder in BoE deposits.
Perform detailed liquidity and redemption stress‑testing to evidence that central bank deposits and gilt portfolios can support prompt redemption under extreme but plausible scenarios while remaining within the £40 billion issuance guardrail.
Re‑calibrate business plans and revenue models for systemic stablecoin issuance to reflect the increased allowable share of interest‑bearing gilts, the absence of per‑holder limits, and continued constraints on paying interest to coinholders.
Design and implement governance and risk‑management frameworks that meet BoE expectations for systemic payment systems, including Board‑level oversight, risk appetite for digital money, and clear accountability for prudential and operational risks.

Key Dates

2024

- UK Government publishes its National Payments Vision, which provides the policy backdrop for a UK regime on digital money, including stablecoins

10 November 2025

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

Wealth Manager

🇪🇺 ESMA Consultation medium

June 19th 2026

ESMA contributes to global CCP fire drill exercise

ESMA contributes to global CCP fire drill exercise 19 June 2026 CCP In November 2025, 38 central counterparties (‘CCPs’) from across the world, together with clearing members, conducted a coordinated fire drill exercise simulating the failure of a hypothetical common participant. Known as the CCP Global International Default Simulation (CIDS), the exercise aimed to promote preparedness and coordination across jurisdictions. ESMA participated in the lead authorities’ group together with Bundes...

AI Analysis

ESMA has announced its participation as a lead authority in the 2025 CCP Global International Default Simulation (CIDS), a coordinated multi-jurisdictional default-management “fire drill” involving 38 CCPs and their clearing members, simulating the failure of a common participant in November 2025. This is not a new binding rule but it signals heightened supervisory expectations on default management, cross-CCP coordination, porting, and operational resilience, which EU CCPs and clearing members should treat as de facto supervisory standards.

What Changed

- Supervisory expectations are raised for standardisation and reduction of fragmentation in CCP default-management procedures and communication conventions, with a strong push toward harmonised...
Lead authorities explicitly promote greater use of portal-based solutions (rather than ad hoc email or bespoke channels) for communication, information sharing, and auction-related workflows between...
Authorities call for more realistic testing of porting arrangements, including end-to-end operational tests that reflect real-life constraints (documentation, client consent, timing of transfers, and...
The lead authorities propose considering a voluntary “market stress overlay” module in future CIDS exercises, creating a coherent cross-CCP macro stress scenario to test whether operational capacity...
ESMA confirms that global CCP fire drills are now a core component of system-wide resilience expectations, effectively embedding regular multi-CCP default simulations into ongoing supervisory...

Suggested Considerations

CCPs should review and update their default management procedures to align with emerging cross-CCP standards, including harmonised communication conventions, standardised information templates, and coordinated auction timelines.
Clearing members should conduct a cross-CCP gap analysis of their default-management playbooks to ensure they can support simultaneous auctions and calls from multiple CCPs without creating operational bottlenecks.
CCPs and clearing members should implement or upgrade portal-based communication and workflow tools for default events, replacing fragmented email- or spreadsheet-based processes where feasible.
Clearing brokers and client-clearing firms should test and, where necessary, redesign their porting arrangements (including client consent, documentation, booking models, and operational capacity) to ensure they can port positions and collateral under stressed but realistic timelines.
Risk and operations teams at CCPs and clearing members should incorporate findings from the 2023 and 2025 CIDS exercises into their internal default-management training, drills, and board reporting on operational resilience.

Key Dates

13 November 2023

– Week-long 2023 Global CCP fire drill coordinated by ESMA and other authorities, simulating the default of a hypothetical major clearing member across more than 30 CCPs

5 December 2024

The Prudential Regulation Authority (PRA) has today published a consultation on the internal model approach to market risk (IMA), which represents the final piece of Basel 3.1’s implementation in the UK.

AI Analysis

The PRA has launched a consultation on targeted adjustments to the **Basel 3.1 internal model approach (IMA) for market risk**, confirming that IMA will still go live in the UK on 01 January 2028 while refining key aspects of profit-and-loss attribution (PLA), modellability, mixed IMA/standardised use, and operational requirements. These changes matter for compliance teams because they alter how trading book risks can qualify for IMA capital treatment, affect the transition path from standardised to IMA, and require updates to model governance, documentation, and implementation plans ahead of the Basel 3.1 go‑live dates in 2027 and 2028.

What Changed

- The PRA confirms that the Basel 3.1 internal model approach for market risk (FRTB‑IMA) will be implemented in the UK on 01 January 2028, with no further delay to the already-announced date.
The PRA proposes to extend the monitoring period for the profit and loss attribution (PLA) test from one year to three years before PLA outcomes are used to drive capital consequences for IMA trading...
The PRA proposes a more targeted approach for positions with limited trading data, adjusting the identification of risks that cannot be modelled under IMA so that more positions can be treated as...
The PRA proposes to modify the treatment of positions subject to a mix of IMA and standardised approaches, to avoid scenarios where capital requirements increase mechanically as firms gradually...
The PRA proposes operational simplifications and amendments to the IMA rules to improve proportionality, including simplifications in how firms evidence modellability, run tests, and manage the...

Suggested Considerations

Review the PRA consultation on the Basel 3.1 market risk internal model approach in detail and map each proposed change (PLA monitoring, modellability, mixed‑use treatment, operational simplifications) to current and planned IMA designs and policies.
Update the Basel 3.1 implementation roadmap for market risk to reflect that all non‑IMA Basel 3.1 rules start in January 2027, while IMA goes live on 01 January 2028, ensuring dependencies between standardised and IMA implementations are clearly sequenced.
Reassess the design, calibration, and governance of the profit and loss attribution framework to accommodate a three‑year monitoring period, including data retention, desk‑level analytics, exception management, and documentation of PRA engagement during the monitoring phase.
Perform an inventory of trading book risk factors and positions with limited trading data and assess how the PRA’s more targeted approach to non‑modellable risks will change modellability classifications, capital impacts, and desk‑level model scope.
Analyse current and planned use of mixed IMA and standardised approaches across desks to ensure that migration pathways do not inadvertently increase capital requirements and adjust transition plans, capital forecasts, and management information accordingly.

Key Dates

January 2027

- All Basel 3.1 rules other than the internal model approach for market risk come into force in the UK, including the new market risk standardised approaches and trading book boundary rules

01 January 2028

- The PRA’s adjusted internal model approach for market risk (FRTB‑IMA), as refined through this consultation, comes into effect; IMA capital requirements and associated reporting and testing obligations apply from this date

Compliance Impact

Failure to adapt Basel 3.1 IMA implementation plans to the PRA’s adjusted framework could result in higher than necessary capital requirements, delayed or refused IMA permissions, and potential supervisory findings on model risk management and governance. For firms with significant trading books, misalignment with the new IMA rules will have material prudential, profitability, and strategic implications.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

BankBroker Dealer

🇬🇧 PRA Consultation medium

June 19th 2026

CP9/26 – Basel 3.1: Adjustments to the internal model approach (IMA) for market risk

Consultation paper 9/26

AI Analysis

The PRA has issued CP9/26, a consultation on targeted adjustments to the **Basel 3.1 market risk Internal Model Approach (IMA)** that was finalized in PS1/26. The main compliance significance is that it refines how firms can use market risk models, including capital caps, collective investment undertaking treatment, reporting/disclosure, and other operational clarifications, while preserving the PRA’s objective of robust model standards and closer international consistency.

What Changed

- The PRA is consulting on a targeted set of adjustments to the market risk IMA rules and related policy materials that were finalized in PS1/26.
The proposals include replacing the existing partial caps on IMA capital with a permission-based cap on IMA capital at the full ASA level.
The PRA proposes to adjust the treatment of collective investment undertakings (CIUs) by introducing a 90% de minimis look-through threshold for IMA inclusion.
The PRA proposes to extend the ASA treatment of index-tracking funds to IMA.
The PRA proposes to update reporting and disclosure obligations so they align with the revised IMA framework.

Suggested Considerations

Review the proposed IMA amendments in CP9/26 against current Basel 3.1 implementation plans and identify where trading desk, model, and capital calculations would change.
Assess whether any current or planned IMA portfolios would be affected by the proposed permission-based cap at the full ASA level.
Recalculate the implications of the proposed 90% CIU de minimis look-through threshold for portfolio classification and capital treatment.
Check whether index-tracking fund positions should be re-mapped under the proposed extension of ASA treatment to IMA.
Update reporting and disclosure implementation workstreams to reflect the PRA’s proposed alignment changes.

Key Dates

20 January 2026

- PS1/26 finalized the PRA’s market risk IMA rules that this consultation seeks to adjust

19 June 2026

- CP9/26 is in force as an open consultation for industry response

18 September 2026 DEADLINE

- Consultation responses are due to the PRA

Compliance Impact

The compliance impact is material but targeted: firms using, or planning to use, the IMA must update model governance, capital methodology, and reporting/disclosure processes to match the revised framework. Failure to adapt could lead to miscalculated market risk capital, supervisory challenge, delayed approvals, or remediation expectations if a firm relies on outdated IMA assumptions.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

BankBroker DealerAll Firms

🇨🇦 OSFI News

June 19th 2026

Peter Routledge, Superintendent at the Office of the Superintendent of Financial Institutions (OSFI), gives OSFI Domestic Stability Buffer (DSB) Announcement

Sectors:

Topics:

Bank

🇨🇦 OSFI News

June 19th 2026

OSFI lowers Domestic Stability Buffer to 3.0% so Canada's largest banks can deploy more capital

Sectors:

Topics:

Bank

🇬🇧 BoE News

June 18th 2026

Sectors:

Consumer Protection / Conduct AML / Financial Crime

Topics:

Bank

Banking & Credit Investment Management Consumer Credit

🇦🇺 ASIC News

June 18th 2026

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

All Firms

🇦🇺 ASIC News

June 17th 2026

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 7 der Verordnung vom 8. Juni 2012 über Massnahmen gegenüber Syrien (SR 946.231.172.7) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has amended **Annex 7 of the Ordinance of 8 June 2012 on Measures against Syria (SR 946.231.172.7)**, updating the list of sanctioned persons, entities, and organisations. The associated changes have been implemented in SECO’s SESAM sanctions database and become **legally binding for Swiss financial intermediaries as of 16 June 2026 at 23:00**, triggering immediate screening, asset-freeze, and reporting obligations under Swiss sanctions and AML law.

What Changed

- The WBF has amended Annex 7 of the Ordinance of 8 June 2012 on Measures against Syria (SR 946.231.172.7), changing the list of sanctioned persons, companies, and organisations connected to Syria.
The Swiss sanctions database SESAM (SECO Sanctions Management) has been updated to reflect these changes, and SECO has published the amended list on its website.
The updated measures, including asset-freeze and prohibition obligations, enter into force on 16 June 2026 at 23:00, making the revised Syria list immediately enforceable for Swiss-supervised...
Financial intermediaries are explicitly required to implement the applicable prohibitions, including restrictions on making funds or economic resources available to listed persons, entities, and...
Financial intermediaries must freeze the assets and economic resources of the persons, companies, and organisations newly listed, relisted, or otherwise affected by the Annex 7 amendment.

Suggested Considerations

Perform an immediate update of sanctions screening lists and tools to incorporate the revised Syria Annex 7 entries as reflected in the SESAM database.
Identify all customers, beneficial owners, counterparties, and transactions that match or potentially match the updated Syria sanctions list, including retrospective screening where systems permit.
Freeze without delay all assets and economic resources held or controlled by persons, entities, or organisations that are newly listed or affected by changes under the updated Annex 7.
Block any new or pending transactions that would make funds or economic resources available, directly or indirectly, to persons and entities designated under the updated Syria list.
Report all affected business relationships and frozen assets to SECO in accordance with the reporting requirements of the Syria sanctions ordinance and SECO guidance.

Key Dates

Topics:

Bank

🇦🇺 ASIC News

June 16th 2026

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 8 der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.

AI Analysis

On 15 June 2026, the Swiss Federal Department of Economic Affairs, Education and Research (WBF) amended **Annex 8** of the Swiss Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72) and published the updated sanctions list on its website. The changes, which enter into force the same day at 23:00, require Swiss financial intermediaries to immediately update their sanctions screening, freeze assets of newly listed parties, and report affected relationships to SECO while also fulfilling their anti‑money‑laundering (AML) duties under the Anti‑Money Laundering Act (GwG).

What Changed

- Annex 8 of the Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72) has been amended by the WBF to update the list of sanctioned persons and...
The WBF has published the updated Annex 8 and associated sanctions-list changes on its website, making these changes the operative reference for Swiss sanctions screening and asset-freeze obligations.
The amended measures enter into force on 15 June 2026 at 23:00, creating an immediate and time‑critical requirement for financial intermediaries to align their controls with the new Annex 8 content.
Financial intermediaries are instructed to implement all prohibitions arising from the Ordinance, including any new or expanded restrictions connected to the updated Annex 8 listings.
Financial intermediaries must freeze the assets of persons and entities newly designated or otherwise affected by the Annex 8 amendment and ensure no prohibited transactions or services are carried...

Suggested Considerations

Review the updated Annex 8 of SR 946.231.176.72 as published by the WBF and obtain the latest Swiss sanctions-list data (including from SESAM/SECO where used) before the 23:00 effective time.
Update internal sanctions screening lists, vendor‑provided screening tools and watchlist filters to incorporate all new and amended entries in Annex 8.
Run an immediate batch screening of all customers, beneficial owners, controlling persons, counterparties, securities holdings and payment flows against the updated Annex 8 once the changes are operative.
Identify all existing and pending business relationships that match updated Annex 8 entries and classify them as sanctioned in internal systems.
Freeze without delay any assets, accounts, securities, or other economic resources belonging to, owned, held or controlled by persons and entities listed in Annex 8, in line with the Ordinance.

Key Dates

Senior Managers / Governance

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇯🇵 JFSA News

June 15th 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services (June 2, 2026)

No description available.

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing

BankFintech

🇯🇵 JFSA News

June 15th 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services (June 3, 2026)

No description available.

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankAll Firms

🇯🇵 JFSA News

June 15th 2026

Securities,Request Regarding “Short-Term Measures for Financial Institutions in Response to Changes in Threat Posed by Frontier AI”

No description available.

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankAll Firms

Banking & Credit Payments & E-Money Capital Markets & Trading

🇬🇧 BoE News

June 15th 2026

Summary of the RTGS CHAPS Industry Forum

The first meeting of the RTGS CHAPS Industry Forum

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

BankPayment ProviderAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News

June 15th 2026

ASIC permanently bans Abdullah Popal from financial services and credit

Sectors:

Topics:

AML / Financial Crime Authorisation & Licensing Consumer Protection / Conduct

Wealth ManagerAll Firms

Banking & Credit Investment Management Insurance & Pensions

🇱🇺 CSSF Guidance medium

June 15th 2026

CSSF press release concerning certain CNC publications: Q&A; CNC 26/037 entitled "A reminder of the differences between annual accounts prepared for statutory purposes and annual accounts prepared for contractual purposes or on a voluntary basis” and interview with the chairman of the CNC (Mr. Yvan Thommes) (only in French)

No description available.

AI Analysis

The CSSF is flagging to the market a new **CNC Q&A 26/037** that clarifies the distinction between **statutory (legal) annual accounts** and **annual accounts prepared for contractual or voluntary purposes**, and an interview indicating an upcoming **overhaul of Luxembourg accounting legislation**. This matters for compliance and finance teams because mislabeling or misusing “statutory” accounts, or applying CNC doctrine inconsistently, can create legal, regulatory, lending, and investor‑information risks, and the announced legislative reform implies future adjustments to accounting policies, reporting processes, and governance.

What Changed

- The CSSF formally draws regulated entities’ attention to CNC Q&A 26/037, elevating it as a key interpretative reference on the concepts of annual accounts prepared for legal/statutory purposes...
The CNC Q&A 26/037 provides clarified definitions of “comptes annuels établis à fins légales” (statutory annual accounts) and “comptes annuels établis à des fins contractuelles ou sur base...
The Q&A gives practical answers to frequently asked questions from preparers about when accounts qualify as statutory versus merely contractual or voluntary, and how this affects applicable...
The Q&A addresses related issues, such as the extent to which CNC doctrine and Luxembourg GAAP must be followed for contractual or voluntary accounts, and the risks of presenting non‑statutory...
The CSSF also highlights an interview with the CNC chairman announcing that Luxembourg accounting legislation will undergo a refonte (major overhaul), signaling that current CNC doctrine, including...

Suggested Considerations

Obtain and review the full CNC Q&A 26/037 and the CNC chairman’s interview (French‑language originals), ensuring that finance, accounting, and compliance teams understand the clarified distinctions between statutory and contractual/voluntary annual accounts.
Map all sets of financial statements prepared by each Luxembourg entity (statutory accounts, covenant‑based or lender‑specific accounts, group reporting packages, management accounts, etc.) and classify each set as statutory or contractual/voluntary in line with CNC Q&A 26/037 definitions.
Update internal accounting policies and manuals to explicitly define statutory versus contractual/voluntary annual accounts, specify the applicable accounting principles and disclosures for each, and describe any differences in measurement, presentation, or scope.
Assess current practices for communicating financial information to lenders, investors, regulators, and other stakeholders to confirm that non‑statutory accounts are not labeled or presented in a way that could be misinterpreted as statutory accounts approved under Luxembourg company law.
Implement clear labeling and disclosure conventions on the face of financial statements and in accompanying notes (e.g., in engagement reports, board minutes, and management communications) to distinguish statutory annual accounts from any contractual or voluntary accounts.

Key Dates

08 June 2026

– Publication of the interview with the CNC chairman in Paperjam announcing that Luxembourg accounting legislation will be overhauled

15 June 2026

– CSSF press release published, drawing attention to CNC Q&A 26/037 and the CNC chairman’s interview and signaling supervisory expectations that entities consider this doctrine when preparing annual accounts

Compliance Impact

Failure to correctly distinguish and label statutory versus contractual/voluntary annual accounts can lead to breaches of Luxembourg company law, mis‑disclosure to investors, lenders, and regulators, and increased enforcement risk from the CSSF and other authorities. Misalignment between CNC doctrine and practice may also complicate audits and regulatory reviews, leading to qualified opinions, remediation requirements, or sanctions in severe cases.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerInsurance

🇱🇺 CSSF Guidance medium

June 15th 2026

CSSF communiqué concerning certain CNC publications (only in French)

Q&A CNC 26/037 titled “A reminder of the differences between annual accounts prepared for statutory purposes and annual accounts prepared for contractual purposes or on a voluntary basis” and interview with the chairman of the CNC (Mr. Yvan Thommes)

AI Analysis

The CSSF is formally directing market participants’ attention to new guidance from the Luxembourg Commission des normes comptables (CNC) clarifying the distinction between **statutory annual accounts** and **contractual/voluntary annual accounts**, and to an interview announcing a forthcoming overhaul of Luxembourg accounting law. This matters for compliance and finance functions because it affects how firms label, prepare, approve, file and use financial statements in regulatory, contractual and investor contexts, and foreshadows medium‑term changes to the Luxembourg accounting framework.

What Changed

- The CSSF endorses and promotes CNC Q&A 26/037 as the reference clarification on the concept of “comptes annuels établis à fins légales” (statutory annual accounts) versus annual accounts prepared...
The Q&A provides clear criteria to distinguish statutory accounts from non‑statutory accounts, including their legal basis, approval process, filing and publication obligations, and permissible use...
The CNC guidance clarifies that statutory annual accounts must fully comply with Luxembourg accounting law (including mandatory layouts, valuation rules and disclosures), whereas...
The CNC addresses frequent practical questions from preparers, including whether financial statements prepared for banks, covenants, shareholders’ agreements, management incentive plans or...
The CSSF communicates that misunderstandings between statutory and contractual accounts remain common, implicitly warning against the risk of using non‑statutory statements in contexts where...

Suggested Considerations

Identify all sets of financial statements prepared by the firm or its Luxembourg entities (statutory, covenant/banking, shareholder/management, group‑reporting, voluntary) and map which are statutory annual accounts under Luxembourg law and which are contractual or voluntary.
Review the CNC Q&A 26/037 in detail and update internal accounting manuals and group reporting policies to embed the CNC’s definitions, terminology and criteria for statutory versus non‑statutory annual accounts.
Implement a clear labelling and disclosure convention so that all non‑statutory financial statements explicitly state their nature (contractual or voluntary) and are not presented or communicated as statutory annual accounts.
Update templates for board and shareholder approvals, minutes and resolutions to ensure that the correct set of statutory annual accounts is approved for legal purposes such as profit appropriation, dividend distribution, capital reduction and regulatory filings.
Review all contractual arrangements (loan agreements, bond indentures, shareholder agreements, management incentive plans and service contracts) to determine whether they require statutory annual accounts or allow contractual/adjusted accounts, and align documentation and practice accordingly.

Key Dates

Authorisation & Licensing Senior Managers / Governance

Topics:

BankFintech

🇦🇺 ASIC News

June 12th 2026

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Fintech

🇱🇺 CSSF News

June 9th 2026

eDesk – Potential disruptions expected on Wednesday, 10 June 2026

No description available.

Sectors:

Operational Resilience / Outsourcing

Topics:

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇺🇸 SEC Policy high

June 8th 2026

SEC Establishes Joint Data Standards as Required Under the Financial Data Transparency Act of 2022

The U.S. Securities and Exchange Commission established joint data standards under the Financial Data Transparency Act of 2022. The final rule establishes technical standards for data submitted to certain financial regulatory agencies. Eight additional…

AI Analysis

The SEC has adopted **joint data standards** under the Financial Data Transparency Act of 2022 (FDTA) to govern how data is formatted and submitted to specified U.S. financial regulators, including the SEC. This materially raises the bar on data structure, tagging, and interoperability for regulatory reporting and disclosures, requiring firms to shift from document-centric to **machine‑readable, standardized data** across multiple reporting regimes.

What Changed

- The SEC, jointly with seven other U.S. financial regulators, has established mandatory technical data standards for information submitted to those agencies pursuant to the Financial Data...
The joint standards apply to regulatory data collections within each participating agency’s remit (e.g., SEC filings and reports, certain prudential and market data submissions), and are intended to...
The rule requires use of structured, non‑proprietary, machine‑readable formats (such as XML, JSON, XBRL, or similar open standards) where data is collected electronically, moving away from...
The standards require use of public, non‑exclusive data dictionaries and taxonomies, so that data elements (e.g., fields, metrics, identifiers) are consistently defined and tagged across different...
The rule embeds interoperability requirements, so that the same data element (for example, a LEI, CUSIP, counterparty ID, asset class, or exposure type) is reported using harmonized definitions and...

Suggested Considerations

Conduct a comprehensive mapping of all current and upcoming regulatory data submissions to the SEC and other FDTA‑covered agencies to identify which reports are likely to be brought under the joint data standards.
Review and update data governance frameworks so that key data elements (counterparty identifiers, instrument identifiers, balances, exposures, classifications) are uniquely defined, consistently sourced, and traceable across internal systems in alignment with anticipated joint taxonomies.
Assess existing regulatory reporting systems and vendor solutions (including XBRL tools, data warehouses, and filing platforms) and develop an upgrade plan to support the new machine‑readable, standardized formats and schemas.
Establish an internal FDTA/joint data standards implementation program, with clear ownership (e.g., finance, regulatory reporting, data management, IT) and a cross‑functional steering committee to oversee design, testing, and rollout.
Engage with technology, regtech, and data vendors to confirm their timelines for supporting the new SEC and cross‑agency standards and to obtain updated taxonomies, schemas, and validation rules as soon as they are published.

Key Dates

AI Analysis

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat am 4. Juni 2026 den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) angepasst, wodurch die schweizerischen Sanktionen gegen Sudan aktualisiert wurden. Dies verpflichtet beaufsichtigte Institute, ihre Sanktions- und Embargoprüfungen umgehend an die neuen gelisteten Personen, Organisationen oder Einrichtungen anzupassen und sicherzustellen, dass sämtliche Vermögenssperren und Meldepflichten nach schweizerischem Sanktions- und Geldwäscherecht eingehalten werden.

What Changed

- Der Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) wurde durch Entscheid des WBF aktualisiert, was Änderungen an der Sanktionsliste (gelistete natürliche...
Die aktualisierte Sanktionsliste zu Sudan ist für alle von der Verordnung erfassten Finanzintermediäre unmittelbar verbindlich und ist bei der Prüfung von Kunden, wirtschaftlich Berechtigten,...
Vermögenswerte von neu gelisteten Personen oder Einrichtungen müssen gemäss Verordnung unverzüglich eingefroren und dürfen weder direkt noch indirekt zur Verfügung gestellt werden.
Bereits bestehende Geschäftsbeziehungen zu neu gelisteten Personen oder Einrichtungen sind zu suspendieren bzw. abzuwickeln, soweit dies mit den gesetzlichen Vermögenssperren vereinbar ist.
Institute sind verpflichtet, gefundene Treffer (Treffer bei Konten, Depots, Zahlungs- oder Handelsgeschäften) zu gelisteten Personen oder Einrichtungen den zuständigen Bundesstellen nach den...

Suggested Considerations

Führen Sie umgehend einen Abgleich aller Kunden-, Konten- und wirtschaftlich Berechtigten-Stammdaten sowie relevanter Transaktionen gegen die aktualisierte Sudan-Sanktionsliste gemäss Anhang 2 der Verordnung SR 946.231.18 durch.
Identifizieren und dokumentieren Sie alle Treffer (Hits) zu gelisteten Personen, Organisationen oder Einrichtungen und prüfen Sie diese formal (True Hit vs. False Positive) unter Anwendung eines dokumentierten, vier-Augen-prüfenden Verfahrens.
Frieren Sie Vermögenswerte von bestätigten gelisteten Personen oder Einrichtungen unverzüglich ein, blockieren Sie Transaktionen und verhindern Sie jede direkte oder indirekte Bereitstellung von wirtschaftlichen Ressourcen, in Übereinstimmung mit der Sudan-Verordnung.
Erstatten Sie umgehend die erforderlichen Meldungen an die zuständigen Bundesstellen (insbesondere SECO bzw. die im Sanktionsrecht vorgesehenen Behörden) sowie – soweit einschlägig – Verdachtsmeldungen an die Meldestelle für Geldwäscherei (MROS).
Aktualisieren Sie Ihre Sanktions- und AML-Richtlinien, Arbeitsanweisungen und Kontrollpläne, um die neuen Sudan-spezifischen Listungen und Prozesse zur Vermögenssperre und Meldung explizit zu berücksichtigen.

Key Dates

25 May 2005

- Erlass der Verordnung über Massnahmen gegenüber Sudan (SR 946.231.18), die den rechtlichen Rahmen für schweizerische Sudan-Sanktionen schafft

04 June 2026

- Das WBF beschliesst und veröffentlicht die Änderung des Anhangs 2 der Verordnung über Massnahmen gegenüber Sudan (SR 946.231.18); die aktualisierte Sanktionsliste tritt in Kraft und ist ab diesem Datum anzuwenden

Compliance Impact

Die Änderung des Anhangs 2 der Sudan-Verordnung erhöht das unmittelbare Sanktions- und Geldwäschereirisiko für Schweizer Finanzintermediäre bei unzureichender Listenpflege, Überwachung und Meldeprozessen. Verstösse gegen schweizerische Sanktionsbestimmungen können zu erheblichen aufsichtsrechtlichen Massnahmen durch FINMA, strafrechtlichen Konsequenzen sowie schwerwiegenden Reputationsschäden führen.

References

[1] finma.ch/de/news/2026/06/20260605-sr-946-231-18/

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Senior Managers / Governance

BankBroker DealerPayment Provider

Banking & Credit Investment Management Payments & E-Money

🇮🇪 CBI Enforcement high

June 5th 2026

Central Bank publishes Annual Report and Annual Performance Statement 2025

Central Bank of Ireland has today (Friday 5 June 2026) published its Annual Report and Annual Performance Statement for 2025 . Speaking on publication of the report, Governor Gabriel Makhlouf said: “2025 was a year of significant uncertainty and adjustment. “Inflation across advanced economies continued to moderate from the highs experienced in previous years. In the euro area, we kept interest rates at levels necessary to ensure that inflation returns sustainably to our 2% target even as geo...

AI Analysis

The Central Bank of Ireland (CBI) has published its 2025 Annual Report and Annual Performance Statement, signalling concrete shifts in supervisory approach, consumer protection expectations, and regulatory implementation priorities across digitalisation, financial crime and new EU regimes. For compliance teams in Irish‑authorised firms, this is effectively a roadmap of how CBI will supervise in 2026–2027: enhanced conduct standards under the modernised Consumer Protection Code, intensified focus on financial crime and digital risks (including AI), and more assertive enforcement capacity via a new dedicated prosecutions team.

What Changed

- The modernised Consumer Protection Code entered into effect in 2025, updating the existing Irish conduct framework to reflect digital delivery of financial services and strengthen protections in...
Requirements on informing consumers effectively were tightened, implying higher expectations on clear, fair, not misleading disclosures across digital and traditional channels, and more robust...
New or enhanced obligations concerning consumers in vulnerable circumstances now apply, requiring firms to identify, record and respond to vulnerability and to embed vulnerability considerations into...
Mortgage switching processes are subject to strengthened conduct standards, increasing expectations on how options are presented, how customers are supported to switch, and how potential conflicts or...
Insurance auto‑renewal practices are now more tightly controlled, requiring clearer pre‑renewal information, active consent and controls to mitigate consumer detriment from inertia or unsuitable...

Suggested Considerations

Map the modernised Consumer Protection Code requirements against existing policies, procedures and customer journeys to identify and remediate gaps, particularly in digital channels, disclosure, sales practices and complaints handling.
Update vulnerable customer policies, customer‑facing procedures, training materials and systems flags to ensure systematic identification, recording and tailored treatment of consumers in vulnerable circumstances.
Review mortgage switching processes and documentation to ensure customers receive clear, comparative information on switching options, are not subject to unreasonable barriers or retention tactics, and that conflicts of interest are controlled and documented.
Conduct a comprehensive review of insurance auto‑renewal practices (including communications, timing, consent mechanisms and pricing) and implement changes to align with the strengthened consumer protection expectations.
Strengthen fraud and scam prevention frameworks by enhancing customer education, warnings, authentication, monitoring, incident response and redress processes, with particular focus on online and mobile channels.

Key Dates

01 January 2025

– CBI established a dedicated team to investigate and prosecute offences under financial services legislation

2025 (effective date – specific day not stated)

– The modernised Consumer Protection Code came into effect for Irish‑regulated firms

2025 (throughout the year)

– CBI implemented its new supervisory approach centred on four safeguarding outcomes and reorganised into multi‑disciplinary supervisory teams

2025 (theme year)

– CBI’s Innovation Sandbox focused on combatting financial crime, with seven projects selected on information sharing, identity verification and fraud prevention

December 2025

– CBI published “Regulating & Supervising well – a more effective and efficient framework,” detailing its simplified and outcomes‑focused regulatory framework

Compliance Impact

Non‑compliance with the modernised Consumer Protection Code, new supervisory expectations, and EU‑level regimes such as MiCA, DORA and the EU AI Act can lead to administrative sanctions, reputational damage, and increasingly, investigation and prosecution by CBI’s dedicated enforcement team. Given the integrated, outcomes‑focused supervisory model, weaknesses in any of conduct, prudential, operational resilience or financial crime controls are more likely to trigger broad‑based supervisory interventions and enforcement scrutiny.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Technology & Cyber

BankAsset ManagerPayment Provider

Banking & Credit Capital Markets & Trading Payments & E-Money

🇮🇪 CBI News

June 5th 2026

The Central Bank’s 2025 Annual Report & Annual Performance Statement

In his latest blog, Governor Gabriel Makhlouf writes about the release of the latest Annual Report and Annual Performance Statement. He uses his blog to reflect how the Central Bank delivered on its mandate for the people of Ireland and gives an overview of the economic outlook, summarises achievements and provides an update on the financial position at the end of last year.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Operational Resilience / Outsourcing

All Firms

Investment Management Wealth & Private Banking Banking & Credit

🇮🇪 CBI Enforcement high

June 5th 2026

FTI Finance Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name FTI Finance Limited (CLONE) Website • https://client.ftifinanceltd.com/auth/login • https://ftifinance-ltd.com/ • https://ftifinancelimited.com Email address used • support@ftifinancelimited.com • support@ftifinance-ltd.com Authorisation in Ireland FTI Finance Limited (CLONE) is not authorised to operate as an investment firm or investment business firm in Ireland. Additional Information This scam firm clo...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in relation to **FTI Finance Limited (CLONE)**, an unauthorised investment firm / investment business firm using multiple websites and email domains to impersonate a legitimately authorised firm of the same name. The notice formally confirms that this entity is not authorised to provide investment services in Ireland and highlights a **clone scam** targeting investors, which requires immediate enhancement of client‑facing controls, due diligence, and fraud‑risk processes in all Ireland‑facing businesses.

What Changed

- CBI has formally designated “FTI Finance Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details on the Central Bank’s unauthorised firms warning...
The CBI explicitly clarifies that FTI Finance Limited (CLONE) is not authorised to operate as an investment firm or investment business firm in Ireland and therefore cannot legally provide MiFID‑type...
The warning identifies specific websites associated with the clone entity that must be treated as high‑risk indicators in client and transaction screening: -...
The warning identifies specific email addresses used by the clone, which should be added to firms’ fraud and sanctions‑style screening lists: - support@ftifinancelimited.com -...
CBI confirms that the scam entity has cloned the details of a CBI‑authorised firm of the same name, underscoring a continuing supervisory focus on clone firm scams and the expectation that regulated...

Suggested Considerations

Screen existing and new customers against the details in the CBI warning and immediately block or enhance review of any relationships, communications, or transactions involving the listed websites or email domains linked to FTI Finance Limited (CLONE).
Update internal fraud and financial crime watchlists to include the name “FTI Finance Limited (CLONE)” as well as the specific domains and email addresses identified in the CBI notice.
Enhance customer‑facing verification processes to require staff to confirm the regulatory status of any firm claiming to be FTI Finance Limited against the CBI public register before onboarding, referral, or execution of transactions.
Review and update client communications, investor education materials, and website FAQs to highlight the risks of clone firms, directing clients to verify authorisation using the CBI register and to consult CBI’s financial scams information.
Train front‑office, call‑centre, compliance, and fraud‑operations staff on the characteristics of clone investment scams, including this specific case, and embed clear escalation procedures for suspected clone activity.

Key Dates

05 June 2026

- CBI publishes the warning notice on FTI Finance Limited (CLONE) as an unauthorised investment firm / investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

Failure to implement appropriate controls to prevent dealings with unauthorised or clone firms can expose regulated entities to CBI supervisory findings, enforcement action, and significant conduct risk, including client loss and litigation. The publication also raises financial crime and fraud‑risk expectations, so inadequate response may be treated as a failure of governance, customer due diligence, and consumer protection frameworks.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerBankWealth Manager

🇬🇧 FCA Policy low

June 5th 2026

Bank of England and FCA MoU on supervision of market infrastructure: 2025/26 review

The Bank of England has published a joint review with the FCA on how the Memorandum of Understanding (MoU) for financial market infrastructure (FMI) is working. The Bank of England and the FCA (the authorities) cooperate on the supervision of FMIs.The authorities consulted with FMIs to assess the effectiveness of cooperation between the Bank and FCA over the past 12 months.Following the responses, the authorities have concluded that the arrangements for cooperation remain effective with appro...

AI Analysis

The Bank of England and FCA have completed their 2025/26 joint review of the Memorandum of Understanding (MoU) governing cooperation on the supervision of UK financial market infrastructures (FMIs) and have concluded that current arrangements remain effective, well‑coordinated and free from material duplication. For compliance teams at FMIs and connected firms, this confirms regulatory expectations around information‑sharing, supervisory engagement and coordinated oversight by the two authorities, but does not introduce new rules or materially change existing supervisory practice.

What Changed

- The Bank of England and FCA confirm, following consultation with FMIs over the last 12 months, that the existing MoU framework for supervisory cooperation on financial market infrastructures...
The authorities explicitly reaffirm their commitment to efficient coordination to enhance the effectiveness of supervision, signalling continued emphasis on timely, accurate and proactive information...
The statement maintains, rather than revises, the current allocation of responsibilities between the Bank of England (as primary prudential and systemic supervisor for FMIs) and the FCA (as conduct,...
The authorities confirm the continuation of an annual review process of the MoU, including consultation with supervised FMIs to obtain feedback on how coordination is working in practice, embedding...
The publication sits alongside the underlying 2025 MoU text (and the broader multi‑regulator MoU framework with FCA, PRA and PSR), reinforcing that FMIs should align their governance, reporting and...

Suggested Considerations

Confirm internally that your firm’s regulatory engagement framework recognises the Bank of England–FCA MoU and clearly allocates responsibilities for managing relationships with both authorities in line with their respective roles.
Review and, where necessary, update internal regulatory communications and escalation procedures to ensure that information relevant to both the Bank of England and FCA can be shared consistently, accurately and on a timely basis, in anticipation of coordinated supervisory expectations.
Prepare to continue providing structured, constructive feedback during the annual MoU review process by maintaining records of supervisory interactions with each authority, including instances of overlap, gaps, or divergent expectations.
Align incident management, operational resilience and major change approval processes with the expectation that both authorities may need to be informed and coordinated, and verify that notification playbooks and contact trees reflect this dual‑regulator structure.
For groups operating multiple FMIs or cross‑border infrastructures, map where other regulators rely on the Bank of England/FCA supervisory cooperation (for example, via substituted compliance or recognition regimes) and integrate this into your global regulatory engagement strategy.

Key Dates

2024

– The Bank of England and FCA wrote to CCPs, RIEs and RCSDs to request feedback on the effectiveness of cooperation under the MoU based on firms’ interactions during 2024

2025/26

– The authorities conducted the annual joint review of the MoU for FMIs, considering the responses received from supervised entities over the preceding 12 months and assessing the effectiveness of coordination and duplication

Annually (ongoing)

– The Bank of England and FCA will continue to review the MoU each year, including soliciting feedback from FMIs, to confirm that supervisory cooperation remains effective and to identify potential enhancements

Compliance Impact

Non‑compliance would not typically arise directly from the MoU review outcome itself, but FMIs that fail to align with the coordinated expectations and information‑sharing practices of the Bank and FCA risk fragmented supervisory relationships, increased scrutiny, and potential enforcement where underlying prudential, conduct, or operational resilience requirements are not met. Effective engagement with both regulators remains critical to maintaining authorisation, recognition status and continued operation of systemically important market infrastructure.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Operational Resilience / Outsourcing Reporting & Disclosure Senior Managers / Governance

Topics:

BankBroker DealerAsset Manager

🇬🇧 BoE News

June 5th 2026

Bank of England and Financial Conduct Authority – Memorandum of Understanding on the supervision of Financial Market Infrastructure

Joint statement from the Bank of England and Financial Conduct Authority

Sectors:

Operational Resilience / Outsourcing Authorisation & Licensing

Topics:

Broker DealerPayment Provider

Banking & Credit Capital Markets & Trading Investment Management

🇭🇰 SFC Consultation high

June 5th 2026

SFC and HKMA conclude joint consultation on amendments to Clearing Rules for over-the-counter derivative transactions

No description available.

AI Analysis

The SFC and HKMA have concluded a joint consultation to amend the Clearing Rules for OTC derivative transactions by standardising the calculation periods used to determine mandatory clearing obligations. From 1 March 2027, two fixed annual periods—1 March to 31 May and 1 September to 30 November—will be designated as calculation periods, replacing the current practice of periodically updating the list via legislative amendments. This change increases regulatory certainty and reduces the need for frequent rule‑changes, but requires firms to adjust their internal systems, position‑monitoring processes, and compliance calendars to align with the new permanent schedule.

What Changed

- The Clearing Rules will be amended to designate two fixed calendar periods each year—1 March to 31 May and 1 September to 30 November—as calculation periods for determining mandatory clearing...
The new standard calculation periods will apply from 1 March 2027 onwards, creating a permanent formulaic approach that generates future calculation periods without requiring further legislative...
The existing approach of periodically updating the list of calculation periods in the Clearing Rules via legislative amendments will be replaced by this once‑and‑for‑all standardisation.
The Prescribed Days associated with each calculation period will also be aligned with the new standard periods, providing greater clarity on when clearing obligations are triggered and when positions...
The change is intended to increase certainty for derivative dealers in identifying future calculation periods and to facilitate more effective internal planning and compliance monitoring.

Suggested Considerations

Map current OTC derivative portfolios and position‑monitoring systems to the new standard calculation periods (1 March–31 May and 1 September–30 November) and update internal calendars and compliance checklists accordingly.
Review and amend internal policies, procedures, and control frameworks for mandatory clearing, including position‑sizing methodologies, threshold calculations, and record‑keeping requirements, to reflect the permanent calculation‑period structure.
Coordinate with legal and compliance teams to track the progress of the legislative amendments and ensure that internal implementation timelines align with the expected effective date of 1 March 2027.
Update trade capture, risk, and reporting systems to flag trades and positions that fall within the new calculation periods and to generate alerts when clearing thresholds are approached or breached.
Train relevant front‑office, middle‑office, and compliance staff on the new calculation‑period regime, including the timing of Prescribed Days and the implications for trade execution, clearing decisions, and documentation.

Key Dates

TBD (est. late 2026)

– SFC and HKMA proceed with the legislative process to introduce the proposed amendments to the Clearing Rules, following the conclusion of the consultation

29 January 2026

– SFC and HKMA issue the joint consultation paper on standardising calculation periods under the Clearing Rules

27 February 2026 DEADLINE

– Deadline for market participants to submit comments on the proposed amendments to the Clearing Rules

01 March 2027

– Proposed amendments to the Clearing Rules come into effect, designating 1 March to 31 May and 1 September to 30 November each year as standard calculation periods

Compliance Impact

Non‑compliance with the amended Clearing Rules could result in regulatory enforcement action, including fines, public censure, or restrictions on trading activities, as well as reputational damage and potential operational disruption if positions are not properly cleared within the prescribed periods. The shift to a permanent, formulaic approach also increases the importance of robust internal monitoring and governance, as firms will no longer be able to rely on ad hoc legislative updates to guide their compliance calendars.

References

AI-generated analysis. May contain errors or omissions — verify with the original SFC source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Market Abuse / Surveillance Prudential / Capital Requirements

BankBroker DealerAsset Manager

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇪🇺 ECB News

June 5th 2026

Anneli Tuominen: Navigating risk, cutting complexity: financial conglomerates in the current environment

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankInsuranceAll Firms

🇦🇪 ADGM News

June 4th 2026

Mbrif Partners With Numou To Expand Financing Pathways For Innovation Led Businesses In The Uae

Sectors:

Topics:

FintechBank

Banking & Credit Payments & E-Money Capital Markets & Trading

🇬🇧 BoE News

June 4th 2026

Minutes of the Synchronisation thematic engagement working group - 30 April 2026

The latest meeting of the Synchronisation thematic engagement working group

Sectors:

Topics:

Operational Resilience / Outsourcing Authorisation & Licensing Technology & Cyber

BankPayment ProviderFintech

🇦🇺 ASIC News

June 4th 2026

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

Topics:

BankAll Firms

Capital Markets & Trading Investment Management Banking & Credit

🇺🇸 CFTC Enforcement medium

June 3rd 2026

CFTC Rescinds Policy Regarding Denials of Settlements in Enforcement Actions

No description available.

AI Analysis

The CFTC has rescinded its long‑standing **“no-deny” settlement policy** in Appendix A to Part 10, which had barred settlements where defendants wished to continue denying the Commission’s allegations. This change applies **both prospectively and retrospectively**, as the CFTC will no longer enforce existing no‑deny provisions in prior settlements, materially altering settlement dynamics, post‑settlement communications, and reputational risk management for CFTC‑regulated entities.

What Changed

- The CFTC has rescinded the policy in Appendix A to Part 10 that prevented the Commission from accepting settlement offers where a respondent or defendant continued to deny the allegations in a...
The CFTC will now accept settlements even where the settling party publicly denies or continues to deny the CFTC’s allegations, provided other settlement terms are satisfied.
The CFTC has stated that it will not enforce existing no-deny (neither‑admit‑nor‑deny) provisions in settlements that have already been entered.
If a settling party breaches an existing no-deny provision, the CFTC will not allege breach of contract, seek to reopen the matter, ask a district court to vacate the settlement, or reopen an...
The rescission does not alter the CFTC’s discretion to: - settle with defendants who decline to admit facts or liability; or - negotiate and require admissions of facts or liability in...

Suggested Considerations

Review all existing CFTC settlement orders, consent orders, and related agreements to identify any no‑deny or neither‑admit‑nor‑deny clauses and update internal records to reflect that the CFTC has stated it will not enforce those provisions.
Update internal enforcement and litigation playbooks to incorporate the new settlement flexibility, including explicit guidance that public denials post‑settlement may be possible but should be subject to legal and reputational risk review.
Revise board- and senior‑management reporting on CFTC enforcement risks and settlement strategy to reflect the rescission of the no‑deny policy and the availability of settlements without waiving the ability to contest allegations in public communications.
Implement or update communications and investor‑relations protocols governing post‑settlement statements, ensuring any public denials or clarifications are coordinated with legal, compliance, and, where relevant, parallel regulators or criminal authorities.
For ongoing CFTC investigations or settlement negotiations, instruct external and internal counsel to reassess settlement strategy, including whether to seek terms that preserve the firm’s ability to deny or contest aspects of the CFTC’s allegations after settlement.

Key Dates

1998

– CFTC adopts Appendix A to Part 10, establishing the policy of not accepting settlements where the respondent or defendant continues to deny the allegations

21 May 2026

– Federal Register publication date referenced in the CFTC’s final rule rescinding Appendix A to Part 10 (Rescission of Policy Regarding Denials in Settlements of Enforcement Actions, 91 FR 29892)

03 June 2026

– CFTC issues Press Release 9247‑26 publicly announcing that it has rescinded the policy and will not enforce existing no‑deny provisions

[Effective date of Federal Register publication – 21 May 2026]

– The rescission of Appendix A to Part 10 becomes effective as a final rule upon publication in the Federal Register; from this date, the CFTC will not apply the no‑deny policy in new settlements and will not enforce existing no‑deny clauses

Compliance Impact

Non‑compliance arises less from violating the rescinded policy itself and more from mismanaging post‑settlement communications, which may create new litigation, regulatory, or disclosure risks if statements are misleading, inconsistent with other settlements, or inaccurate. Failure to update settlement and communications practices could undermine risk management, investor confidence, and relationships with multiple regulators, even if formal CFTC sanctions for “breaching” past no‑deny clauses are no longer expected.

References

AI-generated analysis. May contain errors or omissions — verify with the original CFTC source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Senior Managers / Governance

Broker DealerAsset ManagerHedge Fund

🇬🇧 BoE Guidance high

June 3rd 2026

Statistical Notice 2026/05 - Implementation of Bank of England Statistics Taxonomy v1.3.1

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

The Bank of England (BoE) is implementing **Bank of England Statistics Taxonomy v1.3.1** for all LIVE statistical submissions relating to end‑May 2026 data, due from mid‑June 2026, replacing v1.3.0. Although reporting requirements and definitions do not change, the move to v1.3.1 is **mandatory for affected returns**, is **not backwards compatible**, and coincides with the **withdrawal of the BoE Statistical Utility tool**, making this a technology and operational‑resilience change for reporting teams.

What Changed

- Bank of England Statistics Taxonomy v1.3.1 replaces v1.3.0 for statistical reporting under the BoE Statistics Taxonomy framework.
The new taxonomy applies to LIVE submissions of end‑May data due from mid‑June 2026, meaning firms must generate those returns using v1.3.1.
Reporting requirements and published definition documents remain unchanged, with the update limited to technical implementation changes (validation fixes, data point model changes and related...
Taxonomy v1.3.1 is not backwards compatible with v1.3.0, so XBRL instance documents created under v1.3.0 will not be valid for submission once v1.3.1 is in force.
Filing indicators are standardised across statistics reporting and now follow the format XX.XX.XX (for example, FI.01.01), requiring alignment of internal mapping and validation rules.

Suggested Considerations

Update internal reporting systems, data integration layers and XBRL engines so that all relevant BoE statistical returns are generated using Statistics Taxonomy v1.3.1 for end‑May 2026 reporting onwards.
Review and update all XBRL instance document templates and configuration to ensure they reference the correct v1.3.1 entry points and filing indicators (XX.XX.XX format, e.g. FI.01.01).
Decommission or phase out any dependency on the BoE Statistical Utility tool, and implement an alternative XBRL generation solution (recognised software provider or internal tooling) capable of producing valid v1.3.1 files.
Conduct a detailed review of the BoE‑published change log, taxonomy package, sample files and XBRL filing manual to understand validation changes, DPM updates and implementation nuances that could cause submission failures.
Schedule and complete end‑to‑end testing in the BEEDS UAT environment (where available) and in internal test environments to validate that v1.3.1 submissions pass all technical and business validations.

Key Dates

Mid‑June 2026 DEADLINE

– First LIVE submissions using Statistics Taxonomy v1.3.1 become due, covering **end‑May 2026** data; firms must use v1.3.1 for these returns and v1.3.0 instance documents will no longer be valid for submission

02 June 2026 – 12 June 2026

– BEEDS User Acceptance Testing (UAT) window for firms and software houses to test submissions using Statistics Taxonomy v1.3.1 in a non‑production environment, running in parallel with live reporting for some firms and returns

Compliance Impact

The change primarily affects technical implementation and operational processes but has high compliance significance, as submissions built on v1.3.0 or using unsupported tooling will be rejected. Persistent failures or delays in BoE statistical reporting can expose firms to supervisory scrutiny, remediation demands and potential enforcement where reporting obligations are not met.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankFintechAll Firms

🇮🇪 CBI Enforcement high

June 3rd 2026

HSBC Continental Europe (CLONE) – Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Banker Unauthorised Firm Name HSBC Continental Europe (CLONE) Website https://campaign.eligibility-advisorscorporate.com/ Telephone Number (01) 6214 2195 (07) 4313 0963 Email address used hsbc@corporate-dublin.com Authorisation in Ireland This scam entity cloned the name and details of a firm authorised by the Central Bank and has been seeking to pass itself off as the legitimate firm, HSBC Continental Europe, in order to deceive consumers. Additionally, the scam entity ...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice (under section 53 of the Central Bank (Supervision and Enforcement) Act 2013) about a **clone “HSBC Continental Europe (CLONE)”** operating as an unauthorised banker and fraudulently using the CBI authorisation number of **Cowan Insurance Brokers Limited (CBI00001421)**. The case underscores heightened clone‑firm risk and obliges compliance, financial crime and customer‑facing teams to strengthen name‑screening, verification of authorisation numbers, and scam‑response procedures when dealing with references to HSBC, Cowan Insurance Brokers Limited, and similar high‑profile brands.

What Changed

- The CBI has formally designated “HSBC Continental Europe (CLONE)” as an unauthorised banker / unauthorised firm and added it to its public unauthorised firms list.
The CBI has identified and published the specific contact details associated with the scam entity, including the website `https://campaign.eligibility-advisorscorporate.com/`, Irish phone numbers...
The publication confirms that the fraudulent entity has cloned both the name and details of HSBC Continental Europe and separately cloned the authorisation number CBI00001421, which belongs...
The CBI expressly states there is no connection between Cowan Insurance Brokers Limited and the fraudulent entity, thereby clarifying that any use of that authorisation number in combination with the...
The warning reiterates that any unauthorised provision of financial services that requires CBI authorisation is a criminal offence, reinforcing the enforcement stance seen across prior clone‑HSBC...

Suggested Considerations

Update internal sanctions / fraud / negative‑news / watchlists to include “HSBC Continental Europe (CLONE)” together with the published website, phone numbers, and email address, and ensure these are blocked or escalated on detection.
Implement or reinforce procedures to independently verify CBI authorisation numbers and firm details directly against the CBI registers, and ensure staff understand that cloned use of an otherwise valid authorisation number is a red‑flag indicator of fraud.
Conduct an immediate targeted review of recent and pending client interactions, payments, and investment instructions to identify any exposure to the scam entity or its contact details, and escalate any hits to financial crime and legal teams.
Deliver targeted staff training and reminders (particularly for front‑office, call‑centre, onboarding, and complaints teams) on clone‑firm typologies, including the use of legitimate authorisation numbers (e.g., CBI00001421) by fraudulent entities.
Enhance customer‑facing communications, website warnings, and FAQs to highlight current CBI warnings about HSBC‑branded clones and to instruct customers always to verify firm details via the official CBI registers and not via links sent in emails or on unknown websites.

Key Dates

03 June 2026

- CBI publishes the warning notice “HSBC Continental Europe (CLONE) – Central Bank of Ireland Issues Warning on Unauthorised Firm” under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

Failure to detect or appropriately respond to clone‑firm approaches could expose firms to customer loss, complaints, civil claims, and heightened CBI scrutiny regarding the adequacy of fraud, AML, and customer‑protection controls. For CBI‑authorised firms, weak controls around clone‑firm risk may be treated as a conduct and systems‑and‑controls deficiency with potential supervisory or enforcement consequences.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankInsuranceAll Firms

Investment Management Wealth & Private Banking Banking & Credit

🇮🇪 CBI Enforcement high

June 3rd 2026

Insight Investment Solutions ICAV (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Irish Collective Asset-Management Vehicle (ICAV) Unauthorised Firm Name Insight Investment Solutions ICAV (CLONE) Website Address https://investmentsolutionsfunds.eu/ Telephone Number 02890137409 Email Address info@insightinvestment.ie Authorisation in Ireland The Clone Firm is not authorised to provide financial services in Ireland. Additional Information The Clone Firm is using the name and Central Bank Registration Number of the legitimate Central Bank authorised Fund...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against a **clone** entity using the name *Insight Investment Solutions ICAV (CLONE)*, fraudulently holding itself out as an authorised Irish Collective Asset-management Vehicle (ICAV). The scam firm is using the name and Central Bank registration number of the legitimate CBI‑authorised fund Insight Investment Solutions ICAV, with no connection between them, creating significant conduct, fraud‑risk, and client‑asset risks for firms that may be exposed via distribution, introductions, or client referrals.

What Changed

- The CBI has formally designated *Insight Investment Solutions ICAV (CLONE)* as an unauthorised ICAV and publicly listed it as an unauthorised firm under section 53 of the Central Bank (Supervision...
The CBI confirms the clone firm is not authorised to provide financial services in Ireland and is unlawfully using the name and Central Bank registration number of the legitimate ICAV to deceive...
The warning explicitly clarifies that there is no connection whatsoever between the legitimate Central Bank authorised Insight Investment Solutions ICAV and the clone entity, which must now be...
Contact details (website, telephone number, email) used by the clone are now identified by the CBI as fraudulent identifiers that should be incorporated into internal fraud and financial‑crime...
The publication reinforces the CBI’s expectation that firms and the public report suspected unauthorised firms to the CBI and consult CBI public registers and scam guidance when verifying...

Suggested Considerations

Update internal sanctions, fraud, and negative‑news screening lists and any “unauthorised firms” watchlists to include Insight Investment Solutions ICAV (CLONE) and its associated website, phone number, and email address.
Instruct onboarding, KYC, and product‑approval teams to verify any reference to “Insight Investment Solutions ICAV” directly against the CBI registers, ensuring the Central Bank registration number and contact details match the legitimate authorised ICAV, not the clone.
Implement or reinforce clone‑firm detection controls, including validation of firm names, registration numbers, URLs, emails, and phone numbers against official CBI (and other relevant NCA) registers before onboarding a fund, manager, or distributor.
Circulate a targeted internal fraud/scam alert to front‑office, distribution, advisory, call‑centre, and client‑facing staff highlighting the existence of this specific clone, its identifiers, and the escalation process if approached.
Review and, where necessary, update financial promotions and distribution due‑diligence procedures to require confirmation that any Irish ICAV referenced in marketing materials is directly verified on the CBI register and not accessed via unverified third‑party domains.

Key Dates

03 June 2026

- CBI issues and publishes the warning notice identifying Insight Investment Solutions ICAV (CLONE) as an unauthorised ICAV and clarifying the absence of any connection with the legitimate authorised fund

Compliance Impact

Failure to detect and avoid dealing with clone firms exposes regulated entities to material risks of facilitating fraud, mis‑selling, customer losses, and serious breaches of consumer‑protection, financial‑crime, and authorisation rules. Regulatory consequences may include supervisory findings, enforcement action, civil claims from investors, and reputational damage where firms are found to have inadequate due‑diligence and verification controls.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Investment Management Wealth & Private Banking Banking & Credit

🇮🇪 CBI Enforcement high

June 3rd 2026

Euro Bonds Finder/Irish Rates Finder – Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Unauthorised Investment Business Firm Unauthorised Firm Name Euro Bonds Finder/Irish Rates Finder Website https://eurobondsfinder.com/ Authorisation in Ireland Euro Bonds Finder/Irish Rates Finder is not authorised as an investment business firm in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800. For more information on how to protect yourself from financial scams...

AI Analysis

The Central Bank of Ireland (CBI) has issued a Warning Notice, under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/investment business firm and confirming it is not authorised in Ireland to provide investment services. This reinforces CBI’s ongoing focus on online “investment” and comparison-style offerings and requires regulated firms, intermediaries and distributors to ensure they do not engage with or refer clients to this entity and that their financial crime and fraud-detection controls recognise and block similar scams.

What Changed

- The CBI has formally designated Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/unauthorised investment business firm and added it to its public unauthorised firms list...
The CBI has explicitly confirmed that Euro Bonds Finder/Irish Rates Finder is not authorised as an investment business firm in Ireland and therefore cannot legally provide investment services or...
The warning clarifies that any dealings with Euro Bonds Finder/Irish Rates Finder fall outside the regulatory perimeter, meaning investors do not benefit from protections such as CBI conduct of...
The publication reiterates CBI’s standing process for reporting suspected scams, including use of the dedicated phone line and the CBI’s online resources on financial scams, strengthening...
By treating this firm in the same way as other comparison or “finder” style websites previously flagged by CBI (for example Rates Finder, EU Bonds and similar sites), the warning underscores an...

Suggested Considerations

Screen all clients, counterparties, introducers, and third-party platforms against the CBI “Search Unauthorised Firms” list and ensure Euro Bonds Finder/Irish Rates Finder is included in internal watchlists and negative lists.
Update internal fraud, scam, and financial crime typology libraries to include Euro Bonds Finder/Irish Rates Finder and similar bond/rate “finder” or comparison-website investment scams, including indicators such as online forms capturing investor details and subsequent unsolicited calls or emails.
Instruct relationship managers, advisory staff, and customer service teams not to refer clients to, or accept referrals from, Euro Bonds Finder/Irish Rates Finder and to escalate any client reports of contact with this firm via internal suspicious activity or fraud reporting channels.
Enhance transaction monitoring and payment screening rules to flag and review attempted transfers to payment accounts or beneficiaries linked to Euro Bonds Finder/Irish Rates Finder or similar unauthorised online investment schemes.
Review marketing, distribution, and partnerships to ensure no white-labelling, lead-sharing, affiliate, or referral arrangements exist, directly or indirectly, with Euro Bonds Finder/Irish Rates Finder or comparable unauthorised comparison/investment platforms.

Key Dates

29 August 2025

– CBI issues a prior warning notice on an analogous unauthorised comparison website, Rates Finder, highlighting the “comparison website scam” model

19 March 2026

– CBI issues a warning on EU Bonds, another unauthorised investment firm, further signalling its focus on online bond and rate “finder” scams

03 June 2026

– CBI publishes the Warning Notice on Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013

Compliance Impact

The compliance impact is high, because dealings with unauthorised firms can expose regulated entities to regulatory enforcement for conduct, financial crime failings, and failures in due diligence on third parties and referrals, in addition to customer detriment and reputational damage. Firms that ignore CBI warnings or fail to adapt their controls to identified scam typologies risk scrutiny in supervisory reviews and potential enforcement action.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

Asset ManagerWealth ManagerBank

Investment Management Wealth & Private Banking Banking & Credit

🇮🇪 CBI Enforcement high

June 3rd 2026

Compare Bonds Ltd – Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Compare Bonds Ltd Website http://www.comparebondrates.eu/ Email address used info@bondratecompare.com Authorisation in Ireland Compare Bonds Ltd is not authorised to operate as an investment business firm or investment firm in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or report an unauthorised firm directly to ...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in respect of **Compare Bonds Ltd**, confirming it is **not authorised** to operate as an investment business firm or investment firm in Ireland. This reinforces firms’ obligations to perform robust regulatory status checks on any “comparison” or “bond rate” intermediaries and to strengthen fraud‑prevention controls around introduction, referral and distribution channels.

What Changed

- The CBI has added Compare Bonds Ltd to its public list of unauthorised firms under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, confirming it is not authorised to operate...
The warning identifies specific digital identifiers associated with the unauthorised firm, including the website `http://www.comparebondrates.eu/` and the email domain `bondratecompare.com`, which...
The publication continues the CBI’s recent thematic focus on “comparison website” style investment scams, following earlier warnings on entities such as Bond Rate Compare / Compare Bonds Ltd, EU...
The notice reiterates that the CBI operates a central reporting channel for unauthorised firms, including a dedicated telephone line and online reporting facility, underscoring expectations that...
The warning is an enforcement‑related action aimed at investor protection and market integrity, signalling that regulated firms must not treat introductions, leads or referrals from Compare Bonds Ltd...

Suggested Considerations

Screen all existing and prospective introducers, lead generators, comparison sites and affiliates against the CBI’s unauthorised firms list, and immediately block or off‑board any relationship linked to Compare Bonds Ltd, Bond Rate Compare or the domains and websites identified.
Update internal fraud‑risk, KYC and onboarding procedures to include explicit checks for CBI unauthorised‑firm warnings for any third party that sources or routes investment or deposit business, especially where “comparison”, “bond”, “EU rates” or similar branding is used.
Instruct front‑office, sales and relationship‑management staff not to accept introductions, leads or client referrals from Compare Bonds Ltd or any entity using the websites or email domains cited in the CBI warning.
Enhance transaction‑monitoring and case‑management workflows to flag and investigate payments, transfers or instructions referencing Compare Bonds Ltd, comparebondrates.eu, bondratecompare.com, or similarly branded entities previously named in CBI warnings.
Review and, where necessary, update customer‑facing scam warnings and disclosures (websites, apps, terms, and client communications) to highlight the risk of “comparison website” investment scams and to direct customers to the CBI’s unauthorised firm register.

Key Dates

01 December 2025

– CBI previously issued a warning regarding Bond Rate Compare / Compare Bonds Ltd as an unauthorised investment firm / investment business firm

03 June 2026

– CBI publishes the current warning notice confirming Compare Bonds Ltd is an unauthorised firm and disclosing associated website and contact details

Compliance Impact

Failure to identify and disengage from unauthorised comparison‑style entities like Compare Bonds Ltd exposes firms to significant conduct, enforcement and reputational risk, particularly where customers suffer losses via scams linked to the firm’s products or brand. The CBI’s ongoing pattern of warnings indicates elevated supervisory sensitivity to distribution controls, meaning lapses could contribute to findings in conduct or enforcement reviews.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

BankBroker DealerWealth Manager

🇪🇺 ESMA Enforcement high

June 3rd 2026

ESAs publish the first report on DORA major ICT-related incidents

ESAs publish the first report on DORA major ICT-related incidents 03 June 2026 Digital Finance and Innovation Joint Committee The European Supervisory Authorities (EBA, EIOPA and ESMA) today published their first annual overview of major ICT-related incidents in the EU financial sector based on a reporting mechanism established by the Digital Operational Resilience Act (DORA). It shows that ICT risks are increasingly borderless and interconnected. The authorities also note that the recent evo...

AI Analysis

The ESAs (EBA, EIOPA and ESMA) have published their first annual report under Article 22(2) DORA, aggregating 3,383 **major ICT‑related incidents** reported by EU financial entities and highlighting that roughly one third had a cross‑border impact. This is an early supervisory “heat map” of DORA incident reporting and sends a clear signal that competent authorities will focus on cross‑border ICT risk, third‑party/outsourcing failures and the adequacy of firms’ incident classification and reporting frameworks.

What Changed

- The ESAs have operationalised Article 22(2) DORA by issuing the first annual overview of major ICT‑related incidents, confirming that yearly ESA‑level aggregation and analysis of incident data is...
Incident reporting under DORA is now demonstrably harmonised and centralised, with major ICT‑related incidents being notified to all competent authorities involved and then aggregated by the ESAs for...
The report confirms that cross‑border incidents are prevalent (around one third of major incidents), reinforcing that the “borderless and interconnected” nature of ICT risk is a key supervisory...
System failures and external events, rather than pure cyber‑attacks, are identified as the main drivers of major incidents, placing regulatory emphasis on ICT change management, resilience of core...
The ESAs highlight third‑party and outsourcing risk as a core theme, stressing the need for robust oversight of ICT service providers and close coordination with them during incident response and...

Suggested Considerations

Review and, where necessary, recalibrate internal incident classification criteria against the DORA definition of “ICT‑related incident” and “major ICT‑related incident”, ensuring consistency with applicable RTS on classification and materiality thresholds.
Validate that your firm’s incident management and escalation processes can identify, assess and classify incidents “without undue delay” and trigger major‑incident reporting within the prescribed timelines (initial, intermediate and final reports).
Conduct a gap analysis of cross‑border incident handling, ensuring that governance, communication and coordination arrangements adequately address incidents affecting multiple Member States or shared cross‑border infrastructures.
Strengthen third‑party and outsourcing risk management by mapping critical and important functions to their supporting ICT service providers, and ensuring contracts, SLAs and incident‑response clauses support DORA reporting and cooperation obligations.
Test and, if needed, enhance incident response runbooks to ensure close coordination with ICT service providers during incident containment, remediation and recovery, including clear roles for data provision required for regulatory reporting.

Key Dates

Bank

🇦🇪 DFSA News

June 3rd 2026

Armin Peter appointed new Managing Director, Markets to strengthen the DFSA’s…

Sectors:

Authorisation & Licensing Senior Managers / Governance

Topics:

All Firms

🇬🇧 BoE Consultation low

June 2nd 2026

Public asked to help select UK wildlife to appear on new banknote series

The public are being asked to give their views on a selection of wildlife, native to the UK, that will appear on the next series of banknotes in a consultation launched today.

AI Analysis

The Bank of England is consulting the public from **3 June 2026 to 3 July 2026** on which native UK animals should appear as the central image on the next series of banknotes, with one animal selected for each of the £5, £10, £20 and £50 notes. The consultation is operationally important because it confirms the design theme, constrains the universe of eligible imagery to the published shortlist, and signals that the final decision will be made by the Governor after considering public feedback rather than by simple popularity alone.

What Changed

- The Bank has opened a consultation on selecting four distinct native wildlife images for the central design of the next series of banknotes, one for each denomination from £5 to £50.
The eligible imagery is limited to a published shortlist; the Bank is not seeking alternative nominations and will only consider animals on that list.
The shortlist spans mammals, birds, and amphibians/insects/fish, reflecting the Bank’s intent to represent different UK environments across the banknote set.
The Bank will select up to two examples from each category in the consultation, but the final selection may not match the highest-voted options.
The Bank will retain a portrait of the monarch on the next series, alongside additional wildlife and nature elements.

Suggested Considerations

Review internal cash and branch readiness plans to account for a future change to the visual appearance of UK banknotes.
Monitor the Bank of England’s consultation outcomes so denomination-specific handling, ATM, sorting, and authentication procedures can be updated in time.
Update customer communications and frontline scripts to reflect that the next series will feature wildlife imagery, while retaining the monarch’s portrait.
Validate that note-recognition, counterfeit-detection, and cash-acceptance systems can accommodate new denomination designs once specifications are released.
Track the Bank’s second consultation in summer 2026 if your organisation relies on cash logistics, cash processing, or public education materials.

Key Dates

Summer 2026

- The Bank plans to run a second consultation on the specific wildlife options to feature on the new series

End of 2026

- The Bank intends to announce the outcome of the consultation and final design direction

03 June 2026

- The Bank of England launches the public consultation on wildlife imagery for the next series of banknotes

03 July 2026

- The consultation closes

TBD (multi

year process; after 2026); - The Bank will complete detailed design, testing, printing, and rollout of the new series, which it says will take several years

Compliance Impact

Non-compliance risk is currently low to medium because this is a design consultation rather than a binding rule change, but the eventual issuance of a new banknote series will affect cash acceptance, operational controls, and counterfeit-prevention procedures. Institutions that fail to prepare for the transition could face operational disruption, customer confusion, and avoidable cash-handling errors when the new notes enter circulation.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

Topics:

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

June 2nd 2026

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 1 der Verordnung vom 17. Oktober 2018 über Massnahmen gegenüber Myanmar (SR 946.231.157.5) publiziert.

AI Analysis

FINMA has issued an updated sanctions notice confirming that the Federal Department of Economic Affairs, Education and Research (WBF) has amended Annex 1 of the Ordinance of 17 October 2018 on Measures against Myanmar (SR 946.231.157.5), including changes to the list of sanctioned persons, entities and organisations. This triggers an immediate obligation for Swiss financial intermediaries to implement the updated prohibitions, freeze assets of newly listed parties, and report affected relationships to SECO while maintaining parallel AML duties under the Anti-Money Laundering Act (GwG).

What Changed

- Annex 1 of the Ordinance of 17 October 2018 on Measures against Myanmar (SR 946.231.157.5) has been amended by the WBF, changing the list of sanctioned persons, companies and organisations.
The SECO sanctions database SESAM (SECO Sanctions Management) has been updated to reflect the amended Myanmar sanctions list.
The amendment to the Myanmar sanctions list and corresponding SESAM data becomes legally effective at 23:00 on the date indicated in the FINMA notice.
Financial intermediaries are required to implement the prohibitions set out in the Myanmar sanctions ordinance with respect to the updated list, including blocking the assets of all listed persons,...
Financial intermediaries must report business relationships affected by the Myanmar sanctions list changes to SECO in line with the sanctions ordinance.

Suggested Considerations

Immediately screen all customers, beneficial owners, counterparties, and related parties against the updated Myanmar Annex 1 list using the current SESAM sanctions data as of the 23:00 effective time.
Freeze without delay any assets, accounts, or other economic resources held or controlled by persons, entities, or organisations newly listed under the Myanmar sanctions ordinance.
Block any new or existing transactions that would breach the prohibitions of the Myanmar sanctions ordinance in light of the updated Annex 1 list.
Submit timely reports to SECO on all business relationships and frozen assets related to persons and entities listed in the updated Myanmar sanctions list, in line with the reporting provisions of the ordinance.
Conduct additional due diligence and clarifications under Article 6 GwG where there are indications or suspicions of money laundering, terrorism financing, or sanctions breaches in connection with Myanmar-related relationships.

Key Dates

17 October 2018

- Original Ordinance on Measures against Myanmar (SR 946.231.157.5) enters into force, establishing the sanctions framework and Annex 1

01 June 2026

- WBF amends the list of sanctioned persons, companies and organisations in Annex 1 of the Myanmar sanctions ordinance

02 June 2026

- SECO publishes the updated Myanmar sanctions list and SESAM data on its website

02 June 2026, 23:00

- The Myanmar sanctions list amendment enters into force and becomes binding for Swiss financial intermediaries

Compliance Impact

The update has high sanctions and AML risk implications: failure to freeze assets, implement prohibitions, or meet SECO and MROS reporting duties can expose firms to administrative enforcement by FINMA, criminal liability under sanctions law, and significant reputational damage. Robust, time-sensitive implementation and documentation of controls around the 23:00 go‑live are essential to demonstrate effective sanctions compliance.

References

[1] finma.ch/de/news/2026/06/20260602-sr-946-231-157-5/

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

Payments & E-Money Banking & Credit

🇬🇧 FCA Policy medium

June 2nd 2026

Open banking takes next step forward with launch of UK Payments Initiative scheme

The UK Payments Initiative (UKPI) announcement signals a major step forward for open banking and commercial variable recurring payments (cVRP). The launch of UKPI paves the way for greater payments competition, innovation and economic growth.Read the announcement.The industry-led scheme will give people more choice about how and when they pay for recurring goods and services.We want to see competition between commercial open banking schemes and expect the launch of the first scheme by UKPI to...

AI Analysis

The FCA has published a short policy statement signalling regulatory support for the industry‑led **UK Payments Initiative (UKPI)**, an open banking scheme to deliver commercial variable recurring payments (cVRP) and broader payments innovation. For compliance teams, this marks an early but clear indication that the FCA expects firms to prepare for a future **formal regulatory framework for open banking/open finance and commercial schemes**, with consultation to follow once enabling legislation grants the FCA expanded powers by the end of 2026.

What Changed

- The FCA publicly endorses the launch of the UK Payments Initiative (UKPI) as an industry‑led open banking payments scheme focused on commercial variable recurring payments (cVRP), signalling...
The statement confirms the FCA wants competition between commercial open banking schemes, indicating a shift from a single mandated model (under PSD2/open banking implementation) towards multiple...
The FCA signals support for the creation of an independent standards‑setting body for open banking payments, moving standard‑setting away from transitional arrangements towards a more permanent,...
The FCA announces its intention, subject to future legislation granting new powers, to consult on a long‑term regulatory framework for open banking (and, by extension, commercial open banking schemes...
The FCA links this announcement to its regulatory roadmap for open finance, confirming that open banking data‑sharing will be extended to broader financial data, providing a strategic direction of...

Suggested Considerations

Conduct an internal assessment of how your firm currently uses or plans to use open banking and cVRP (e.g., recurring payments, subscription billing, merchant acquiring) and document potential exposure to UKPI or similar schemes.
Establish or update a regulatory horizon‑scanning process to track: (i) UKPI scheme documentation and rulebooks, (ii) FCA’s forthcoming open finance regulatory roadmap outputs, and (iii) the enabling legislation that will grant the FCA new powers.
Engage product, legal and compliance teams to map existing recurring payment processes and consumer consent flows against anticipated expectations for open banking cVRP, including clarity of consent, cancellation rights, transparency of variable amounts, and dispute handling.
Review and, where necessary, update data protection, API security, and customer authentication controls to ensure they can support commercial open banking schemes and more granular data‑sharing under an open finance regime.
For firms intending to participate in UKPI, proactively review and align internal policies with emerging industry standards and scheme rules, including technical standards, liability allocation, service‑level requirements, and complaints/chargeback processes.

Key Dates

End of 2026

– FCA intends to consult on a **long‑term regulatory framework for open banking** (and related commercial schemes such as UKPI), subject to the granting of new powers in legislation

TBD (dependent on primary legislation)

– UK legislation is expected to give the FCA new powers over open banking/open finance, which is a precondition for FCA consultation on a long‑term framework

Compliance Impact

In the immediate term, compliance impact is medium: no new binding rules are introduced, but the FCA’s direction of travel is clear and requires strategic planning. Over the medium term (to and beyond 2026), failure to anticipate the formal open banking/open finance framework, or to adapt recurring payment practices and controls to emerging standards, is likely to create material conduct, operational and supervisory risk.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Authorisation & Licensing

BankFintechPayment Provider

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇯🇵 JFSA News

June 2nd 2026

Publication,FSA Weekly Review No.689 June 2, 2026

No description available.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Prudential / Capital Requirements

BankBroker DealerInsurance

Capital Markets & Trading Investment Management Banking & Credit

🇱🇺 CSSF Consultation high

June 2nd 2026

Rappel de l’importance de participer aux initiatives T+1 (enquêtes et consultations publiques)

No description available.

AI Analysis

CSSF is pressing Luxembourg market participants to complete T+1 readiness surveys by **9 June 2026** and to engage with ESMA’s broader T+1 consultation work, because the EU settlement cycle moves to **T+1 on 11 October 2027** under CSDR. The publication matters because it signals that supervisors are already assessing industry preparedness and that firms must accelerate post-trade process changes, especially around allocations, confirmations, and electronic messaging.

What Changed

- CSSF is requiring market participants to complete the national competent authorities’ T+1 readiness survey by 9 June 2026, with responses visible only to CSSF and ESMA.
CSSF is strongly encouraging participation in the EU T+1 Industry Committee second readiness survey to support a Union-wide assessment of market preparedness.
CSSF is flagging that the transition to T+1 settlement on 11 October 2027 under CSDR will require coordinated changes across the trading and post-trading chain.
CSSF is warning that forthcoming amendments to the RTS on Settlement Discipline are expected to be endorsed by the European Commission and will further define operational requirements for the T+1...
ESMA’s revised guidelines on standardised procedures and messaging protocols are intended to make post-trade communication faster, clearer, and more consistent across the EU.

Suggested Considerations

Complete the CSSF T+1 readiness survey before 9 June 2026 and ensure the submission accurately reflects the firm’s current operational readiness.
Participate in the EU T+1 Industry Committee second readiness survey to demonstrate engagement with the EU-wide readiness process.
Review the firm’s allocation and confirmation workflows to ensure they can operate within T+1 timeframes.
Replace any reliance on oral, manual, or non-machine-readable communications with electronic, standardised messaging channels unless a temporary technical disruption justifies an exception.
Align internal messaging standards with international messaging protocols used for post-trade communication.

Key Dates

02 June 2026

- CSSF publishes the reminder on T+1 readiness, survey participation, and ESMA’s consultation work

09 June 2026 DEADLINE

- Deadline to complete the CSSF national competent authorities’ T+1 readiness survey

07 December 2026

- Expected application date of the revised ESMA guidelines on standardised procedures and messaging protocols

11 October 2027

- T+1 settlement cycle becomes effective under CSDR

Compliance Impact

Non-participation in the surveys will not itself appear to be the substantive T+1 breach, but it will materially weaken supervisory visibility and may invite follow-up scrutiny from CSSF and ESMA. Firms that fail to adapt allocations, confirmations, and messaging processes risk being unprepared for the 7 December 2026 guidance phase-in and the 11 October 2027 settlement-cycle change, which could create settlement fails, operational disruption, and conduct/governance issues.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Senior Managers / Governance

All FirmsAsset ManagerBank

Capital Markets & Trading Banking & Credit Investment Management

🇱🇺 CSSF Consultation high

June 2nd 2026

Reminder of the importance of participating in T+1 initiatives (surveys and public consultations)

No description available.

AI Analysis

CSSF reminds Luxembourg market participants that the EU move to a **T+1 settlement cycle under CSDR on 11 October 2027** is now in execution phase and links this directly to concrete supervisory tools: mandatory-like readiness surveys, RTS on Settlement Discipline amendments, and new ESMA post‑trade communication guidelines. For compliance teams, this is a front‑to‑back operating model change: firms must demonstrate T+1 readiness to CSSF/ESMA, transition to fully electronic, standardised post‑trade communication, and align allocations/confirmations processes to tighter regulatory timelines.

What Changed

- The EU settlement cycle for in‑scope financial instruments under CSDR will shorten from T+2 to T+1 with effect from 11 October 2027, materially reducing the time to complete front‑to‑back trade,...
CSSF has launched a national competent authorities’ T+1 readiness survey and sets a firm completion deadline of 9 June 2026 for Luxembourg market participants, treating it as a critical supervisory...
In parallel, CSSF strongly encourages Luxembourg firms to complete the EU T+1 Industry Committee (EUIC) second readiness survey to support an EU‑wide view of T+1 readiness and potential systemic...
ESMA’s final draft amendments to the CSDR RTS on Settlement Discipline will introduce additional operational requirements specifically designed to support T+1 (e.g.
ESMA has launched a consultation on updated guidelines on standardised procedures and messaging protocols for allocations, confirmations and affirmations, explicitly aimed at facilitating the T+1...

Suggested Considerations

Identify all group entities and business lines in Luxembourg that are in scope of CSDR T+1 (trading, clearing, settlement, custody, collateral, fund dealing) and formally designate a T+1 programme owner at senior management level.
Complete the CSSF T+1 national competent authorities’ survey in full and by 9 June 2026, ensuring that responses accurately reflect current readiness, key risks, dependencies on third parties, and planned remediation milestones.
Arrange for appropriate internal review and sign‑off (e.g. by Compliance and relevant senior management) of the responses to both the CSSF survey and the EUIC second readiness survey before submission.
Participate in the EU T+1 Industry Committee second readiness survey and ensure the firm’s answers are consistent with the information provided to CSSF and with internal T+1 project documentation.
Perform a comprehensive T+1 impact assessment of front‑to‑back trade flows, covering trade execution, allocation, confirmation, affirmation, clearing, settlement, collateral movements, cash and liquidity management, and corporate actions.

Key Dates

09 June 2026 DEADLINE

- Deadline for Luxembourg market participants to complete the CSSF national competent authorities’ T+1 readiness survey

07 December 2026

- Expected application date of revised ESMA guidelines on standardised procedures and messaging protocols and the aligned new RTS on Settlement Discipline requirements on allocations and confirmations

11 October 2027

- Effective date for the transition to a T+1 settlement cycle in the EU under CSDR

Compliance Impact

Non‑compliance is high‑impact: failure to prepare for T+1, to respond adequately to supervisory surveys, or to align processes with RTS on Settlement Discipline and ESMA guidelines can lead to increased settlement fails, penalties, supervisory scrutiny, and potential enforcement action. The T+1 change also amplifies operational, liquidity, and conduct risks if firms cannot meet accelerated timelines, making early execution of remediation plans a prudential and conduct priority.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Senior Managers / Governance

BankBroker DealerAsset Manager

🇱🇺 CSSF News

June 1st 2026

Identification of obliged entities that will be eligible for direct supervision by the European Authority for anti-money laundering and countering the financing of terrorism (AMLA)

Preparation of the new data collection exercice for the purpose of the direct supervision by AMLA – AMLA webinar of 10 June 2026 from 10 am – 12 pm CEST

Sectors:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

Topics:

All Firms

Investment Management Capital Markets & Trading Banking & Credit

🇪🇺 ESMA Enforcement medium

June 1st 2026

ESMA publishes latest edition of its newsletter

ESMA publishes latest edition of its newsletter 01 June 2026 ESMA newsletter The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today the latest edition of its Spotlight on Markets newsletter , covering ESMA’s key activities and publications from April and May 2026. This edition opens with key takeaways from ESMA’s conference “A New Era for EU Capital Markets” , marking ESMA’s 15th anniversary and focusing on the ambition t...

AI Analysis

ESMA’s latest *Spotlight on Markets* newsletter (covering April–May 2026 activity) signals a coordinated push on reporting simplification, CCP resilience, EMIR 3 implementation and enhanced enforcement of corporate and digital reporting standards. For compliance teams, the newsletter is a consolidated forward‑looking risk map: it highlights where ESMA and NCAs will focus supervision and enforcement in the next cycle, especially around fund/transaction reporting, CCP crisis planning, ESEF taxonomy use and internal control functions in the funds sector.

What Changed

- ESMA is advancing the simplification of EU reporting frameworks for funds and transaction reporting, indicating upcoming changes to reporting templates, data fields and/or reporting channels under...
ESMA has launched its sixth EU‑wide stress test exercise for Central Counterparties (CCPs), expanding supervisory scrutiny of CCP risk management, default management processes and resilience to...
ESMA has published guidance on the effective use of resolution tools in CCP crisis planning, clarifying expectations for CCP resolution planning, coordination with resolution authorities and use of...
ESMA has issued reporting templates and instructions for the Active Account Requirement under EMIR 3, operationalising new obligations for counterparties and CCPs to maintain and report active...
ESMA has published a call for evidence on the structure of European equity markets, opening a policy workstream that may lead to changes in market structure, transparency, and best execution...

Suggested Considerations

Map your firm’s current EMIR, MiFIR and fund reporting obligations against ESMA’s stated objective of simplifying EU reporting frameworks and begin scenario‑planning for changes to templates, data models and validation rules.
For CCPs and clearing members, review participation in the sixth ESMA CCP stress test, ensure timely and accurate data delivery, and assess internal implications of potential stress test findings for risk management frameworks.
CCPs should compare existing recovery and resolution plans and playbooks against ESMA’s new guidance on effective use of resolution tools, updating governance, triggers, communications and coordination arrangements with resolution authorities.
Counterparties and CCPs in scope of EMIR 3 should identify products and business lines affected by the Active Account Requirement and begin implementing systems, processes and controls to populate ESMA’s reporting templates and instructions.
Investment firms active in equity markets should respond to ESMA’s call for evidence on European equity market structure where appropriate, and internally assess potential impacts on best execution, order routing, internalisation and transparency obligations.

Key Dates

2025 (completed) DEADLINE

– ESMA and NCAs conduct the 2025 Common Supervisory Action on compliance and internal audit functions of fund managers, establishing benchmarks for good and poor practices in the funds sector

2025 (completed)

– First year of enforcement of European Sustainability Reporting Standards (ESRS) and application of ESMA Guidelines on Enforcement of Sustainability Information for in‑scope issuers’ 2025 reporting

2025 (throughout year)

– ESMA and NCAs carry out corporate reporting enforcement across the EEA, including financial, sustainability and digital (ESEF) reporting, feeding into ESMA’s 2025 corporate reporting enforcement report

Q2 2026

– ESMA launches the sixth CCP stress test exercise, with follow‑up supervisory actions by ESMA and NCAs expected after results are analysed

Q2 2026

– ESMA publishes reporting templates and instructions for the EMIR 3 Active Account Requirement, enabling firms and CCPs to begin design and implementation work ahead of EMIR 3 go‑live

Compliance Impact

The overall impact is medium to high: while the newsletter itself does not create new binding obligations, it consolidates ESMA priorities that will drive supervisory focus and future technical standards, particularly in EMIR 3, CCP oversight, ESEF and sustainability reporting. Failure to anticipate and align with these priorities can lead to enforcement actions, remediation mandates, higher supervisory scrutiny and reputational risk once the related rules and guidance are fully applied.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing ESG

Asset ManagerBroker DealerBank

Banking & Credit Insurance & Pensions Crypto & Digital Assets

🇬🇧 PRA News

June 1st 2026

PRA Regulatory Digest – May 2026

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankInsuranceAll Firms

🇱🇺 CSSF News

June 1st 2026

Benchmark Regulation questionnaire (Updated)

No description available.

Sectors:

Topics:

All Firms

Capital Markets & Trading Investment Management Banking & Credit

🇪🇺 ESMA Consultation medium

May 29th 2026

ESMA’s annual data report shows increased quality, wider use and digital progress

ESMA’s annual data report shows increased quality, wider use and digital progress 29 May 2026 Market data The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today its annual report on the quality and use of regulatory data . It shows that improvements in data quality and data use reinforce each other in a virtuous cycle, supporting more effective supervision and market monitoring across the EU. This year’s edition reflects an e...

AI Analysis

ESMA’s latest annual report on the **quality and use of regulatory data** confirms a material step‑up in supervisory reliance on EMIR, SFTR, MiFIR, AIFMD and MMFR datasets, alongside new inclusion of Prospectus and DORA ICT‑incident reporting. For compliance teams this is a clear signal that data quality is now an enforcement‑relevant topic across a broader perimeter, and that ESMA is actively moving toward **streamlined, “report once” cross‑regime reporting** and an integrated funds reporting framework, which will reshape reporting architecture and controls over the next 1–3 years.

What Changed

- ESMA confirms measurable data quality improvements across EMIR, SFTR, MiFIR, AIFMD and MMFR regulatory datasets, indicating that regulators now consider these data sufficiently reliable for...
ESMA highlights extensive and growing supervisory use of regulatory data by ESMA and NCAs for investor protection, financial stability, orderly markets and market integrity, increasing the...
The scope of the annual data quality and use report is expanded to include Prospectus reporting obligations, bringing prospectus‑related data formally into ESMA’s cross‑regime data quality scrutiny.
The report scope is also expanded to include ICT‑related incident reporting under the Digital Operational Resilience Act (DORA), signaling that operational resilience incident data will be monitored...
ESMA has launched a 2025 Call for Evidence on streamlining reporting across EMIR, MiFIR and SFTR, including options to remove duplications and apply a “report once” approach, which will likely lead...

Suggested Considerations

Map all existing regulatory reporting obligations across EMIR, SFTR, MiFIR, AIFMD, MMFR, Prospectus and DORA ICT‑incident reporting, and document the underlying data sources, systems and ownership for each regime.
Review and enhance data quality controls for EMIR, SFTR and MiFIR reporting, including validation rules, completeness checks, reconciliations, pairing and matching processes, and governance around Unique Transaction Identifiers and counterparty data.
Perform a gap analysis of Prospectus reporting and DORA ICT‑incident reporting processes against ESMA’s emerging cross‑regime data quality expectations and ensure they are covered in the firm’s enterprise data governance framework.
Establish or update a centralised regulatory data governance framework that explicitly covers cross‑regime consistency (for example, trade and position data alignment between EMIR, SFTR and MiFIR) and defines clear accountability at senior management level.
Engage with internal IT and reporting teams to identify where a future “report once” model could be supported technically, including harmonised reference data, common identifiers and golden‑source transaction and position records.

Key Dates

2025 (exact dates TBD)

– ESMA’s Call for Evidence on streamlining reporting across EMIR, MiFIR and SFTR is scheduled, with stakeholders expected to provide input on duplication removal and “report once” options

18 June 2026

– ESMA will host a webinar to present the main findings of the annual report on the quality and use of regulatory data

Compliance Impact

Regulatory data reported under EMIR, SFTR, MiFIR, AIFMD, MMFR, Prospectus rules and DORA is increasingly used for day‑to‑day supervision, thematic reviews and enforcement, making poor data quality a direct source of regulatory, reputational and potentially financial sanctions risk. As ESMA and NCAs deploy more automated, risk‑based data quality tools, firms with weak controls or inconsistent cross‑regime reporting will be more visible and more likely to face targeted supervisory action.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Technology & Cyber

BankBroker DealerAsset Manager

🇯🇵 JFSA News low

May 29th 2026

Publication,FSA publishes English translation of monthly magazine, Access FSA No.270

No description available.

Sectors:

Topics:

All Firms

🇮🇪 CBI Enforcement high

May 29th 2026

Fire Financial Services Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Banking Business / Unauthorised Payment Services Unauthorised Firm Name Fire Financial Services Limited (CLONE) Website Addresses used • www.financeportfolio.net • www.fire.com.de • www.centralbank.ie.de • www.revenue.ie.de • www.department-of-finance.ie.de Email address used • accounts@compliance-fire.com • fire-support@fire.com.de • fire.support@fire.com.de • support@fire.com.de • fire-eu@fire.com.de • fire@fire.com.de • info@fire.com.de • fireservices@fire.com.de Tele...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 about a **clone fraud** entity using the name **Fire Financial Services Limited (CLONE)** and multiple deceptive websites, emails, and phone numbers to conduct unauthorised banking business, payment services, and inheritance scams in Ireland. This notice reinforces existing obligations on regulated firms to monitor and respond to misuse of their identity, enhance scam‑prevention controls, and ensure staff and customers can distinguish between genuine and clone communications.

What Changed

- CBI has formally identified Fire Financial Services Limited (CLONE) as an unauthorised entity that is not authorised to provide banking business or payment services in Ireland and is misusing the...
CBI has published specific fraud indicators associated with this clone, including website domains (e.g.
The warning explicitly states that the clone firm appears to be running an inheritance scam, including the use of fake documentation allegedly from third parties, which should be treated as a red...
CBI reiterates that there is no connection between the legitimate authorised Fire Financial Services Limited (C58301) and this fraudulent entity, thereby clarifying the status of the genuine firm and...
The firm’s name is formally published on CBI’s list of unauthorised firms under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, increasing regulatory expectation that firms...

Suggested Considerations

Review and update internal fraud‑risk and financial crime risk assessments to explicitly cover clone‑firm risks, including inheritance scams and impersonation of authorised entities.
Integrate the specific domains, email addresses, and phone numbers listed in the CBI notice into fraud‑monitoring tools, allow‑/block‑lists, and case‑management systems, and ensure they are treated as high‑risk indicators.
Ensure front‑line, call‑centre, and relationship‑management staff receive targeted training and briefing on this specific clone case and on common clone‑firm red flags, including requests related to inheritance payments and use of unofficial domains.
Enhance onboarding and counterparty due diligence procedures to include systematic checks against the CBI “unauthorised firms” list and the CBI public registers, especially where firms claim Irish regulation or use names similar to existing authorised firms.
Update third‑party and introducer due diligence controls to verify that any firm referring business or presenting as an intermediary is properly authorised and not listed as unauthorised under section 53 of the Central Bank (Supervision and Enforcement) Act 2013.

Key Dates

All Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇬🇧 PRA Policy high

May 28th 2026

PS15/26 – Pillar 2A review – Phase 1

Policy statement 15/26

AI Analysis

PS15/26 sets out the PRA’s final Phase 1 reforms to **Pillar 2A capital methodologies and reporting**, aligned with the UK’s Basel 3.1 implementation and intended to modernise how risks beyond Pillar 1 are captured. It introduces revised approaches and expectations across credit, operational, pension obligation, market and counterparty credit risk, plus substantial updates to ICAAP/SREP guidance and Pillar 2 reporting for both mainstream firms and SDDTs.

What Changed

- The PRA finalises amendments to the Reporting Pillar 2 Part of the PRA Rulebook, including updated Pillar 2 data items (FSA072–FSA076 and FSA081) and an updated Pillar 2 reporting schedule, with...
The PRA issues an updated Statement of Policy (SoP) 5/15 – The PRA’s methodologies for setting Pillar 2 capital, providing revised methodologies across credit, operational, pension obligation, market...
The PRA issues an updated SoP 5/25 – The PRA’s methodologies for setting Pillar 2 capital for Small Domestic Deposit Takers (SDDTs), tailoring Pillar 2A approaches and expectations for SDDTs.
The PRA updates Supervisory Statement (SS) 31/15 – ICAAP and SREP, clarifying expectations on how firms should assess, document and justify Pillar 2A capital in ICAAPs, including how to reflect...
The PRA updates SS 4/25 – ICAAP and SREP for SDDTs, setting proportionate ICAAP expectations and aligning SDDT guidance with the revised Pillar 2A framework.

Suggested Considerations

Map your firm’s current Pillar 2A capital framework against the updated SoP 5/15 and, where applicable, SoP 5/25 to identify methodology changes across credit, operational, pension, market and counterparty credit risk.
Update ICAAP methodologies, models and documentation to reflect revised PRA expectations, including new or enhanced use of credit risk and operational risk scenarios and any updated calibration standards.
Review and, where necessary, redesign ICAAP governance (board oversight, senior management ownership, model risk and validation frameworks) to ensure that new scenario‑driven and systematic Pillar 2A methodologies are subject to appropriate challenge and approval.
For firms with material sovereign, central bank, regional government or unconditionally cancellable retail exposures, implement the new systematic Pillar 2A credit risk methodologies and assess the impact on capital requirements and risk‑weighted exposure allocation.
For firms with significant operational risk, enhance scenario analysis frameworks to capture low‑frequency, high‑severity loss events at the PRA’s expected soundness level, and embed these outputs into ICAAP capital quantification.

Key Dates

22 May 2025

– PRA published CP12/25 launching Phase 1 of the Pillar 2A review and consulting on revised methodologies and reporting

05 September 2025

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇬🇧 PRA Policy high

May 27th 2026

PS14/26 – CRR Definitions: restatement in PRA Rulebook

Policy statement 14/26

AI Analysis

PRA Policy Statement PS14/26 finalises the restatement of CRR definitions into the PRA Rulebook Glossary, with consequential amendments across other Rulebook Parts and updates to SS15/13 on groups. For compliance teams, the key issue is transition planning: the remaining CRR definitions are being moved out of the CRR framework, and firms must ensure their policies, capital documentation, systems, and references align with the PRA Rulebook versions before the repeal of CRR Articles 4–5 takes effect on 1 January 2027.

What Changed

- The PRA has finalised new and restated PRA Rulebook Glossary definitions that replace the CRR definitions previously found in Articles 4, 4A, 4B and 5 for PRA Rulebook purposes.
The PRA has made consequential amendments across other Parts of the PRA Rulebook to align internal cross-references and terminology with the new glossary structure.
The PRA has updated Supervisory Statement SS15/13 – Groups to reflect the transfer of CRR definitions into the PRA Rulebook framework.
The PRA has stated that the vast majority of definitions are restated without substantive policy change, but some definitions were clarified for drafting consistency and readability.
HM Treasury has set the legislative timetable so that the relevant CRR Articles 4–5 will be revoked from 1 January 2027, while the statutory restatement of selected definitions was made in April 2026.

Suggested Considerations

Review all internal policies, manuals, and regulatory interpretation documents that currently cite CRR Articles 4, 4A, 4B, or 5 and replace those references with the corresponding PRA Rulebook Glossary definitions.
Update capital adequacy, prudential reporting, and risk management systems to use the new PRA Rulebook terminology where definitions have moved from the CRR text.
Reconcile group supervision materials, governance papers, and consolidation analyses against the revised SS15/13 wording to ensure group structures are assessed using the updated definitions.
Map every affected business line and legal entity to determine which Rulebook Parts and counterparties rely on the transferred CRR definitions.
Test template agreements, customer disclosures, and internal controls for terminology drift where contractual drafting depends on CRR-defined concepts.

Key Dates

July 2025

- HM Treasury published its Policy Update on applying the FSMA model of regulation to the UK CRR and proposed revoking the remaining CRR provisions while restating only necessary definitions

July 2025

- PRA published CP19/25 proposing the transfer of CRR definitions into the PRA Rulebook Glossary and consequential amendments across the Rulebook

January 2026

- PRA published earlier final policy work on CRR restatement and related implementation measures, indicating the wider restatement programme was already underway

February 2026

- HM Treasury published a policy update confirming it would proceed largely as consulted on, with a change to the statutory definition of “securitisation” for consistency with PRA Basel 3.1 rules

February 2026

- The commencement statutory instrument revoking CRR Articles 4–5 was made, with effect from 1 January 2027

Compliance Impact

The compliance impact is moderate to high because this is a definitional restatement rather than a wholesale policy rewrite, but it affects the legal basis of many prudential references and could create misstatement risk if firms continue to rely on revoked CRR text after 1 January 2027. Non-compliance may lead to inaccurate capital, governance, or perimeter analysis, and could trigger supervisory findings where firms have not updated systems, documentation, or controls to the new Rulebook structure.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerBroker Dealer

🇳🇱 AFM News

May 27th 2026

AFM opnieuw in gelijk gesteld naar aanleiding van hoger beroep tuchtzaak tegen externe accountant

De Autoriteit Financiële Markten (AFM) diende in 2020 een tuchtklacht in tegen een externe accountant van een accountantsorganisatie met een reguliere vergunning, vanwege het in het maatschappelijk verkeer brengen van twee controleverklaringen waarop niet vertrouwd kon worden. Deze klacht werd eerder al grotendeels gegrond verklaard door de Accountantskamer. Dat blijft overeind. Het hoger beroep dat de accountant vervolgens instelde bij het College van Beroep voor het bedrijfsleven (CBb) is n...

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

All Firms

Capital Markets & Trading Investment Management Banking & Credit

🇪🇺 ESMA Consultation high

May 26th 2026

ESMA consults on revised guidelines to support smoother allocations and confirmations under T+1

ESMA consults on revised guidelines to support smoother allocations and confirmations under T+1 26 May 2026 Post Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on the updated guidelines on standardised procedures and messaging protocols. This review is part of ESMA’s work to support market participants in preparing for the transition to a T+1 settlement cycle. The updates are designed to make post ...

AI Analysis

ESMA has launched a consultation on **revised ESMA Guidelines on standardised procedures and messaging protocols for allocations and confirmations**, aligning them with the forthcoming CSDR Settlement Discipline RTS amendments and the EU’s move to **T+1 settlement by 11 October 2027**. The draft guidelines harden expectations around **mandatory electronic, standardised, machine‑readable communication** for post‑trade processes and remove reliance on manual or non‑machine‑readable methods, significantly tightening operational requirements for EU trading, post‑trade and operations functions.

What Changed

- ESMA proposes revised Guidelines on standardised procedures and messaging protocols for allocations and confirmations under CSDR Settlement Discipline, specifically to support the transition to a...
The guidelines will mandate the use of electronic, standardised communication channels for post‑trade allocations and confirmations, moving away from mixed paper / manual practice to fully electronic...
Firms will be required to use international messaging standards (e.g. ISO‑based protocols) for post‑trade communication, to ensure interoperability and faster straight‑through processing across EU...
The guidelines remove references to non‑electronic and non‑machine‑readable methods, including oral allocations and confirmations, except where there is a temporary technical disruption that prevents...
The revisions are explicitly aligned with ESMA’s Final Report on Amendments to the CSDR RTS on Settlement Discipline, which introduce same‑day timing for allocations and machine‑readable formats for...

Suggested Considerations

Map all current allocation and confirmation workflows and identify any use of non‑electronic, non‑standardised or non‑machine‑readable communication (including email attachments, faxes, PDFs, and oral instructions).
Develop and execute a remediation plan to replace manual or oral allocation and confirmation processes with fully electronic, machine‑readable workflows using recognised international messaging standards.
Review and update front‑to‑back trade processing systems (OMS, EMS, middle‑office, back‑office, matching engines) to ensure they can generate, receive and process standardised electronic allocation and confirmation messages within same‑day T+1‑compatible timelines.
Engage with CSDs, custodians, brokers, counterparties and third‑party vendors to confirm their roadmap and readiness for the mandated electronic standards and to align implementation timelines to the 7 December 2026 application date.
Update contractual documentation with clients and counterparties (including terms of business and service level agreements) to incorporate obligations for electronic, standardised, machine‑readable allocations and confirmations and to remove reliance on manual methods except as contingency.

Key Dates

07 July 2026 DEADLINE

– Deadline stated by ESMA for stakeholders to submit consultation feedback on the revised guidelines

October 2026

– ESMA expects to publish its final report, including updated and finalised guidelines on standardised procedures and messaging protocols

07 December 2026

– Expected application date of the revised ESMA Guidelines on allocations and confirmations, aligned with the anticipated application of the amended CSDR RTS on Settlement Discipline requirements for allocations and confirmations

11 October 2027 DEADLINE

– EU transition date to a T+1 settlement cycle, when trades in in‑scope instruments must settle one business day after the trade date and firms must fully operate under the new T+1‑aligned post‑trade framework

Compliance Impact

The change is high impact for operational and conduct compliance: failure to implement mandatory electronic, standardised post‑trade communication and to meet compressed T+1 timelines will directly increase settlement fails, trigger CSDR Settlement Discipline measures and may expose firms to supervisory findings, sanctions and client detriment. Given the hard deadlines and dependency on technology and counterparties, non‑compliance risks crystallising as both regulatory breaches and material operational risk.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure

Broker DealerBankAsset Manager

Banking & Credit Capital Markets & Trading Payments & E-Money

🇯🇵 JFSA News

May 26th 2026

Publication,FSA Weekly Review No.688 May 26, 2026

No description available.

Sectors:

Topics:

Reporting & Disclosure ESG Authorisation & Licensing

All Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 BoE Guidance high

May 26th 2026

Statistical Notice 2026/04 - BEEDS User Acceptance Testing (UAT) Environment – Statistical Taxonomy v1.3.1 FINAL

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

The Bank of England has opened a new BEEDS User Acceptance Testing (UAT) window (02–12 June 2026) to allow statistical reporting firms and software houses to test submissions under the Bank of England Statistics Taxonomy v1.3.1 ahead of go‑live for end‑May 2026 data due from mid‑June 2026. This matters for compliance teams because firms must ensure their reporting systems can generate valid XBRL submissions without the Bank’s Statistical Utility Tool, segregate test and live data correctly, and meet reporting deadlines using the updated taxonomy and BEEDS processes.

What Changed

- The Bank of England has opened a BEEDS UAT environment specifically for testing statistical submissions under Statistical Taxonomy v1.3.1 FINAL, distinct from the BEEDS LIVE production environment.
A dedicated UAT window is set from 02 June to 12 June 2026, during which the UAT environment will run in parallel with live reporting for some firms and returns.
Statistical reporting firms are automatically enabled for BEEDS UAT using their existing BEEDS LIVE firm and user information and do not need to request UAT access.
Software houses that wish to use this UAT window must request access by emailing the BEEDS queries mailbox by a stated cut‑off date (25 May 2026).
All principal and additional user details for firms will be mirrored from the BEEDS LIVE environment into BEEDS UAT, with UAT‑specific temporary passwords issued from the designated BEEDS UAT email...

Suggested Considerations

Identify all Bank of England statistical returns in scope of Taxonomy v1.3.1 and confirm that internal reporting calendars and responsibilities reflect the end‑May 2026 effective period and mid‑June 2026 submission deadlines.
Ensure that all in‑scope statistical reporting firms’ BEEDS LIVE user and firm information are accurate and up to date, so that automatic mirroring into the BEEDS UAT environment creates correct and controlled user profiles.
Instruct software houses and third‑party vendors supporting Bank of England statistical reporting to request BEEDS UAT access by emailing the BEEDS queries mailbox no later than 25 May 2026 if they intend to participate in this UAT window.
Coordinate with internal IT and vendors to schedule, prepare, and execute test submissions in BEEDS UAT between 02 June and 12 June 2026, covering all relevant entry points and reporting scenarios under Taxonomy v1.3.1.
Implement or validate an alternative XBRL generation solution to replace the withdrawn Bank of England Statistical Utility Tool, and complete end‑to‑end testing (source data to BEEDS receipt) ahead of the mid‑June 2026 live submission deadline.

Key Dates

End May 2026

– Reference date of the first LIVE reporting period to which Bank of England Statistics Taxonomy v1.3.1 applies (end‑May 2026 data)

25 May 2026

1 We are at the early stages of a potential technological rewiring of finance. Fast-forward ten or twenty years, and it seems likely that the use of shared, programmable ledgers – and the tokenisation of financial assets – will have become embedded across the financial system. Today, we stand at a juncture. The question is less whether the technology will transform finance. Rather, it is how we collectively shape this ongoing transition, so that the potential of tokenised finance is realised,...

AI Analysis

The Deputy Governor’s speech sets out the Central Bank of Ireland’s (CBI) emerging regulatory stance on tokenised finance and distributed ledger technology (DLT), framing it as a structural transition rather than a niche innovation. While it does not introduce new binding rules, it clearly signals supervisory expectations, impending policy development (including follow‑up to the March 2026 Discussion Paper on tokenisation and DLT), and the need for regulated firms to integrate tokenisation risks, governance and operational resilience into existing regulatory frameworks.

What Changed

- The CBI formally recognises tokenisation and shared, programmable ledgers as a likely core infrastructure of the future financial system and signals that regulation will evolve to treat tokenised...
The speech confirms that CBI’s regulatory approach will be “technology‑neutral but not technology‑blind”, indicating that existing EU and Irish rules (e.g.
The CBI emphasises the need to keep central bank money at the core of tokenised finance, aligning its stance with Eurosystem work on wholesale and retail central bank digital currency (CBDC) and...
The speech reinforces that tokenised instruments representing traditional financial assets (securities, deposits, fund units) will generally be treated as regulated financial instruments, triggering...
The CBI highlights operational resilience, cyber risk, interoperability and smart‑contract governance as critical supervisory focus areas for tokenised finance infrastructure and platforms.

Suggested Considerations

Map all current and planned tokenisation and DLT initiatives (including pilots and proofs of concept) across the group and identify which EU and Irish regulatory regimes they fall under (MiFID II, UCITS, AIFMD, CRR/CRD, PSD2/PSR, Solvency II, MiCA, DORA, etc.).
Perform a regulatory gap analysis to confirm that tokenised products and services are fully captured within existing licensing permissions and assess whether any variation of permission, new authorisation, or recognition as a market infrastructure is required.
Review and update governance arrangements so that boards and senior management explicitly oversee tokenisation strategies, risk appetite, and the use of DLT, including ensuring clear allocation of responsibilities under the firm’s senior manager or fitness and probity framework.
Integrate tokenisation‑specific risks into the firm’s risk management framework, covering legal enforceability of tokens, smart‑contract risk, cyber and operational resilience, data integrity, interoperability, concentration risk in technology providers, and settlement and counterparty risk.
Review outsourcing and third‑party risk management frameworks to ensure that DLT platform providers, smart‑contract developers, node operators and custodians are treated as critical or important outsourced service providers where appropriate, with robust contractual, oversight and exit provisions.

Key Dates

05 March 2026

- CBI publishes its Discussion Paper on tokenisation and distributed ledger technology in financial services, initiating a structured consultation on tokenised markets, funds, money and payments

26 May 2026

- Deputy Governor speech sets out the CBI’s strategic approach to tokenised finance, confirming that consultation feedback will inform subsequent policy, supervisory expectations and potential rule changes

05 June 2026

- Closing date for submissions to the CBI Discussion Paper on tokenisation and DLT, after which CBI will prepare a feedback statement and refine its policy stance

TBD (post‑June 2026)

- CBI feedback statement on the tokenisation Discussion Paper expected, likely followed by more granular guidance and potential adjustments to supervisory and authorisation processes for tokenised activities

Compliance Impact

Non‑compliance will not immediately trigger new standalone tokenisation fines, but CBI is likely to use existing conduct, prudential, governance and operational resilience powers to challenge poorly controlled tokenised activities and may restrict or prohibit projects that do not meet its expectations. Firms that treat tokenised finance as “outside the regulatory perimeter” or fail to integrate it into existing compliance frameworks risk supervisory intervention, authorisation issues, enforcement action and reputational damage.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Operational Resilience / Outsourcing

BankAsset ManagerFintech

🇸🇬 MAS News

May 25th 2026

Consumer Price Developments in April 2026

This April 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.

Sectors:

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News

May 25th 2026

Opening Remarks by Mr Chia Der Jiun, Managing Director, Monetary Authority of Singapore at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026

At the UBS Investment Conference, Singapore Wealth Edition, Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, share his perspectives on navigating the latest macro-economic outlook amid an evolving geopolitical landscape.

Sectors:

Topics:

AML / Financial Crime Technology & Cyber Authorisation & Licensing

BankWealth ManagerAsset Manager

Capital Markets & Trading Wealth & Private Banking Banking & Credit

🇨🇦 OSFI News

May 25th 2026

Sectors:

Topics:

BankBroker DealerWealth Manager

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇪🇺 ECB News medium

May 21st 2026

Frank Elderson: A central banker’s perspective on climate change and nature degradation

No description available.

Sectors:

Topics:

Prudential / Capital Requirements ESG Senior Managers / Governance

BankInsuranceAsset Manager

🇬🇧 BoE Speech

May 21st 2026

Can AI make cutlery? - speech by Andrew Bailey

Given at the 389th Cutlers’ Feast, Cutlers’ Hall, Sheffield

Sectors:

Topics:

Technology & Cyber

All Firms

Banking & Credit Investment Management Insurance & Pensions

🇱🇺 CSSF News

May 21st 2026

CSSF Newsletter No 304 – May 2026

No description available.

Sectors:

Topics:

All Firms

🇯🇵 JFSA News

May 21st 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services (May 12, 2026)

No description available.

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankAll Firms

Banking & Credit Capital Markets & Trading Investment Management

🇦🇪 ADGM News

May 21st 2026

Cantor Receives Adgm Approval

Sectors:

Topics:

Broker DealerBank

🇦🇪 ADGM News

May 21st 2026

Adgm Fsra Finalises Enhancements To Its Anti Money Laundering Framework

Sectors:

AML / Financial Crime Authorisation & Licensing

Topics:

All Firms

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇦🇺 ASIC News

May 21st 2026

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Bank

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇨🇦 OSFI News

May 21st 2026

Remarks for OSFI’s Quarterly Release Day

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

Bank

🇨🇦 OSFI Guidance high

May 21st 2026

Backgrounder: Draft Guideline on the Capital and Liquidity Treatment of Crypto-asset Exposures (Banking) (2027)

AI Analysis

OSFI has launched a 60‑day public consultation on targeted amendments to its Capital and Liquidity Treatment of Crypto‑asset Exposures (Banking) Guideline, focused on recognizing cross‑exchange hedging for Group 2a crypto‑assets traded on regulated exchanges of traditional financial assets. For compliance teams at Canadian federally regulated banks, this creates a near‑term need to assess current market‑neutral crypto strategies, capital models, and hedging documentation to leverage the potential capital relief while ensuring alignment with the revised prudential requirements.

What Changed

- OSFI is proposing targeted revisions to the existing Capital and Liquidity Treatment of Crypto‑asset Exposures (Banking) Guideline, rather than a wholesale rewrite, in order to better reflect...
The draft changes would explicitly recognize cross‑exchange hedging for Group 2a crypto‑assets when the instruments are traded on regulated exchanges of traditional financial assets, allowing more...
Under the proposal, banks’ market‑neutral strategies in Group 2a crypto‑assets would receive capital treatment that more closely reflects actual economic risk, reducing instances where only partial...
No change is proposed to the risk weights applied to Group 2a crypto‑assets, meaning existing Group 2a capital charge levels remain intact under the draft revisions.
No change is proposed to the eligibility of Group 2a crypto‑assets as collateral, so current collateral treatment and related haircuts remain unchanged by this consultation.

Suggested Considerations

Assess whether your institution currently has, or plans to have, exposures to Group 2a crypto‑assets traded on regulated exchanges of traditional financial assets, and map all related positions, hedges, and trading strategies.
Review existing market‑neutral and cross‑exchange hedging strategies for crypto‑asset exposures to determine how expanded recognition of cross‑exchange hedges could change risk‑weighted assets, leverage exposure, and liquidity metrics under OSFI’s proposed treatment.
Perform an impact assessment and scenario analysis comparing existing capital and liquidity requirements for Group 2a exposures under the current guideline versus the proposed cross‑exchange hedge recognition, quantifying potential capital relief or shifts in capital allocation.
Update internal capital policy documentation, trading desk procedures, and risk‑management standards to incorporate the proposed hedging recognition framework, including eligibility criteria for “regulated exchanges of traditional financial assets,” subject to final OSFI requirements.
Prepare and submit a consultation response to OSFI by 20 July 2026, highlighting any operational, risk‑measurement, model, or documentation challenges with implementing cross‑exchange hedge recognition and recommending clarifications where needed.

Key Dates

21 May 2026

- OSFI publishes the backgrounder and launches a 60‑day public consultation on proposed updates to the Capital and Liquidity Treatment of Crypto‑asset Exposures (Banking) Guideline

20 July 2026 DEADLINE

- Consultation period closes; deadline for stakeholders to submit comments to OSFI at Consultations@osfi-bsif.gc.ca

September 2026

- OSFI expects to publish the final revised Capital and Liquidity Treatment of Crypto‑asset Exposures (Banking) Guideline

01 November 2026

- Implementation date for the final guideline for banks with a fiscal year ending 31 October

01 January 2027

- Implementation date for the final guideline for banks with a fiscal year ending 31 December

Compliance Impact

This is a prudential capital and liquidity calibration change rather than a new conduct obligation, but failure to implement the revised guideline correctly could lead to misstated regulatory capital and liquidity metrics, potential supervisory findings, and restrictions on crypto‑asset activities. Given the explicit implementation dates and OSFI’s focus on crypto‑asset risk, non‑compliance could attract heightened supervisory scrutiny and remedial actions.

References

AI-generated analysis. May contain errors or omissions — verify with the original OSFI source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Technology & Cyber

Topics:

BankFintechCrypto Exchange

🇨🇦 OSFI Consultation medium

May 21st 2026

Backgrounder: Draft Guideline B-12 Interest Rate Risk Management Consultation

AI Analysis

OSFI has launched a 60‑day public consultation on targeted amendments to Guideline B‑12 – Interest Rate Risk Management, to update interest rate shock scenarios in line with the latest Basel Committee on Banking Supervision (BCBS) standards. Compliance teams at federally regulated deposit‑taking institutions must prepare for recalibrated interest rate risk in the banking book (IRRBB) measurements and associated Pillar 3 disclosure changes that will become effective for fiscal years starting late 2026.

What Changed

- OSFI proposes to amend Guideline B‑12 – Interest Rate Risk Management to update prescribed interest rate shock scenarios used for measuring interest rate risk in the banking book.
The interest rate shock calibration will be aligned with the most recent BCBS methodology for IRRBB, including improved treatment of environments where policy rates are close to zero or negative.
The time series used to calibrate interest rate shock scenarios will be extended from a previous cut‑off of December 2015 to now incorporate data through December 2023, capturing the recent period of...
OSFI intends to strengthen transparency and market discipline by consulting simultaneously on proposed amendments to Pillar 3 disclosure expectations related to interest rate risk in the banking book.
The revised B‑12 guideline will introduce updated expectations for IRR measurement, monitoring, and reporting that ensure institutions recognize more recent market experience in their internal risk...

Suggested Considerations

Perform a gap analysis comparing current interest rate risk in the banking book methodologies, shock scenarios, and assumptions against the proposed revised Guideline B‑12 parameters and BCBS‑aligned calibration approach.
Engage internal stakeholders (risk management, treasury/ALM, finance, regulatory reporting, model validation, and internal audit) to review the consultation text and identify operational, data, and model impacts from the extended December 2015–December 2023 calibration window and new shock design.
Prepare and submit a detailed written response to OSFI at Consultations@osfi-bsif.gc.ca by 20 July 2026, highlighting any concerns with scenario calibration, procyclicality, data availability, systems impacts, and implementation timelines.
Update IRRBB models, interest rate scenario engines, behavioral assumptions (e.g., non‑maturity deposits, prepayments), and risk metrics (e.g., economic value of equity and earnings‑at‑risk) to incorporate the revised OSFI shock scenarios once the final guideline is published on 10 September 2026.
Revise internal IRRBB policies, risk appetite statements, limits frameworks, and governance documentation to align with the updated Guideline B‑12 expectations and ensure Board and senior management oversight reflects the new calibration.

Key Dates

21 May 2026

- OSFI launches a 60‑day public consultation on targeted amendments to Guideline B‑12 – Interest Rate Risk Management and related IRRBB Pillar 3 disclosure expectations

20 July 2026 DEADLINE

- Deadline for stakeholders to submit comments on the draft Guideline B‑12 amendments and associated IRRBB disclosure proposals to Consultations@osfi-bsif.gc.ca

10 September 2026

- OSFI plans to publish the final revised Guideline B‑12, together with a non‑attributed summary of comments received and OSFI’s responses

01 November 2026

- Revised Guideline B‑12 becomes effective for institutions with a fiscal year ending 31 October

01 January 2027

- Revised Guideline B‑12 becomes effective for institutions with a fiscal year ending 31 December

Compliance Impact

Non‑compliance with the revised Guideline B‑12 and associated IRRBB disclosure expectations may result in supervisory findings, remediation orders, heightened capital expectations, and potential reputational damage due to incomplete or misleading interest rate risk reporting. Given recent rate volatility and OSFI’s focus on IRRBB, supervisors are likely to treat deficiencies in implementation or disclosure as material.

References

AI-generated analysis. May contain errors or omissions — verify with the original OSFI source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇨🇦 OSFI Guidance medium

May 21st 2026

Backgrounder: Draft Guideline B‑2 – Large Exposure Limits for Small and Medium-Sized Banks

AI Analysis

OSFI has launched a 90‑day consultation (to 19 August 2026) on a draft revised Guideline B‑2 that would extend the 2019 large exposure regime to Category 1 and Category 2 small and medium‑sized banks (SMSBs), replacing the legacy 1994 large exposure guideline for those firms. Compliance teams in affected SMSBs will need to align limits, exposure measurement, counterparty‑grouping methodologies, and reporting processes with the DSIB‑style framework ahead of implementation targeted for November 2027 / January 2028.

What Changed

- Extends the scope of Guideline B‑2 (Large Exposure Limits) beyond domestic systemically important banks (DSIBs) to include Category 1 and Category 2 small and medium‑sized banks (SMSBs), bringing...
Replaces the existing 1994 large exposure guideline for Category 1 and Category 2 SMSBs with a single modern framework aligned to the January 2019 version of Guideline B‑2.
Removes Category 3 SMSBs from the large exposure guideline regime, so they will no longer be subject to OSFI large exposure limits under Guideline B‑2.
Removes foreign bank branches from the scope of the large exposure guideline, so foreign bank branches will no longer be subject to Guideline B‑2 requirements.
Introduces a hard limit for Category 1 and Category 2 SMSBs that total exposures to a single counterparty or group of connected counterparties must not exceed 25% of the institution’s Tier 1 capital.

Suggested Considerations

Conduct an impact assessment to quantify current single‑name and connected‑counterparty exposures relative to the proposed 25% of Tier 1 capital limit for Category 1 and Category 2 SMSBs.
Identify and map all existing large exposure policies, procedures, and limits that are based on the 1994 large exposure guideline and plan their replacement with a framework aligned to the 2019 Guideline B‑2 approach.
Review and, where necessary, redesign methodologies and internal criteria for identifying groups of connected counterparties so they are consistent with OSFI’s updated expectations under the draft revised Guideline B‑2.
Update credit risk measurement processes and systems so that exposures for large exposure purposes are calculated net of eligible credit risk mitigation in line with OSFI capital requirements.
Assess data, systems, and reporting capabilities to ensure the institution can produce quarterly large exposure reports using the same template as larger banks, including drill‑downs by counterparty and connected counterparty groups.

Key Dates

21 May 2026

- OSFI launches a 90‑day public consultation on the draft revised Guideline B‑2 – Large Exposure Limits for small and medium‑sized banks

19 August 2026 DEADLINE

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇸🇬 MAS Speech

May 20th 2026

"Financing Asia’s Transition - From Risk to Readiness: Preparing for a Climate-Resilient Future" - Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026

Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026.

Sectors:

Topics:

BankAsset ManagerInsurance

Banking & Credit Capital Markets & Trading Payments & E-Money

🇯🇵 JFSA News

May 19th 2026

Press Conferences,Joint Press Conference of the ASEAN+3 Co-Chairs (May ３, 2026)

No description available.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Technology & Cyber

BankAll Firms

Capital Markets & Trading Banking & Credit Investment Management

🇮🇪 CBI Speech

May 19th 2026

Makhlouf calls for genuine single market in goods, services and capital to boost European competitiveness

Governor of Central Bank of Ireland Gabriel Makhlouf today (Tuesday 19 th May) spoke at the AFME Annual European Financial Integration conference , where he called for a more ambitious approach to Europe’s Single Market, arguing that greater integration in goods, services and capital is essential to enhance European competitiveness and resilience. The Governor outlined two primary conditions for building a genuine single capital market: completing the regulatory architecture and establishing ...

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Reporting & Disclosure

All Firms

Capital Markets & Trading Banking & Credit Investment Management

🇮🇪 CBI Speech

May 19th 2026

One Single Market: Goods, Services and Capital - Speech by Governor Gabriel Makhlouf at AFME European Financial Integration Conference

Thank you for the invitation to speak this afternoon. I want to talk about the Single Market, which is one of Europe's greatest political and economic achievements. Over more than three decades, it has been an engine of European growth and resilience, delivering scale, opportunity, and tangible benefits for citizens and businesses across the Union. As António Costa has pointed out, it connects 450 million consumers and 32 million companies, supporting around 56 million jobs through trade with...

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Prudential / Capital Requirements

All Firms

Banking & Credit Crypto & Digital Assets Investment Management

🇩🇪 BaFin News

May 19th 2026

Bafin warns consumers about services offered by Elementum Ventures

The Federal Financial Supervisory Authority (Bafin) warns consumers about the company Elementum Ventures and the services it is offering. Bafin suspects the unknown operators, who claim to be based in New York, United States, of offering consumers financial, investment and cryptoasset services without the required authorisation. Elementum Ventures is currently offering its services via the websites elementumventures(.)ai and elementumventures(.)com.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct

FintechCrypto Exchange

🇪🇺 ECB News

May 19th 2026

Claudia Buch: The bank-sovereign nexus: securing progress by completing the banking union

No description available.

Sectors:

Prudential / Capital Requirements Authorisation & Licensing

Topics:

Bank

Crypto & Digital Assets Banking & Credit

🇩🇪 BaFin News

May 19th 2026

Bafin warns consumers about the website bitcoinera(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website bitcoinera.com. Bafin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct

Crypto ExchangeFintech

🇬🇧 FCA News

May 19th 2026

Is the claims management market working?

When consumers are wronged, many rightly seek fair compensation. Some complain directly, without paying a penny using free Ombudsman services. Others turn to claims management companies (CMCs) or law firms.They can provide a valuable service and support access to justice.However, we’ve seen firsthand from the way some claims firms have handled car finance complaints that, all too often, they make a difficult situation worse.Poor practices include unwanted texts or emails sent to people who ne...

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

All Firms

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇯🇵 JFSA News

May 19th 2026

Publication,FSA Weekly Review No.687 May 19, 2026

No description available.

Sectors:

Topics:

Reporting & Disclosure Consumer Protection / Conduct Technology & Cyber

All Firms

Banking & Credit Investment Management Capital Markets & Trading

🇦🇺 ASIC News

May 19th 2026

ASIC continues to ease regulatory burden

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Operational Resilience / Outsourcing

All Firms

🇸🇬 MAS Speech

May 19th 2026

Keynote Speech by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, at the Institute of Banking and Finance (IBF) Financial Industry Fiesta 2026 on 19 May 2026

At the IBF Financial Industry Fiesta 2026, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS announced the launch of the Young Talent Programme for AI in Finance, which aims to equip students with both applied AI and financial sector skills that are in demand.

Sectors:

Technology & Cyber Authorisation & Licensing

Topics:

BankAll Firms

Investment Management Capital Markets & Trading Banking & Credit

🇺🇸 SEC Enforcement high

May 18th 2026

SEC Rescinds Policy Regarding Denials of Settlements in Enforcement Actions

The Securities and Exchange Commission today rescinded a policy, codified in Rule 202.5(e) of its informal rules of procedures, stating that when it chooses to settle an enforcement action in which a sanction is imposed, it will not settle unless the…

AI Analysis

The SEC has rescinded its long‑standing “no‑deny” settlement policy, previously codified in Rule 202.5(e) of the Commission’s Rules of Practice, which had prohibited settling respondents from publicly denying the Commission’s allegations in cases resolved on a “neither admit nor deny” basis. This materially alters how firms can speak about resolved SEC enforcement matters and will directly affect settlement negotiations, collateral consequences analysis, and post‑settlement communications and disclosure strategies.

What Changed

- The SEC has rescinded the policy in Rule 202.5(e) of its informal Rules of Practice that conditioned settlements involving sanctions on the respondent’s agreement not to publicly deny the...
Settling parties in SEC enforcement actions may now have greater scope to make public statements that deny or contest aspects of the SEC’s allegations, subject to the specific language of each...
The traditional “neither admit nor deny” construct will no longer automatically include a built‑in prohibition on denials, which means the SEC staff will need to negotiate any desired limitations on...
Communications and disclosure provisions in SEC settlement papers (including “undertakings” and clauses governing press releases and investor communications) are likely to become more tailored and...
The rescission increases the importance of alignment between legal, compliance, and communications teams when crafting public statements following an SEC settlement, because statements that deny...

Suggested Considerations

Review existing internal playbooks for handling SEC investigations and settlements and update them to reflect the rescission of Rule 202.5(e), including how settlement language on admissions, denials, and public statements is negotiated.
For matters currently under SEC investigation or in active settlement negotiations, direct outside and in‑house counsel to reassess settlement strategy, including whether to seek greater flexibility for post‑settlement denials or clarifications in the consent language and undertakings.
Conduct an inventory of significant historical SEC settlements that included “no‑deny” provisions and identify where ongoing communications plans, disclosure narratives, or litigation strategies may be constrained by legacy language.
For high‑impact historical orders with restrictive “no‑deny” clauses, obtain legal advice on whether and how to approach the SEC about potential modification or clarification of those provisions in light of the Commission’s changed policy.
Train senior management, board members, and spokespersons on the revised SEC posture, emphasising that while denials may now be more permissible, inaccurate or overly aggressive denials could adversely affect ongoing private litigation, insurance recoveries, or relationships with other regulators.

Key Dates

18 May 2026

- The SEC issues the press release announcing rescission of its “no‑deny” policy codified in Rule 202.5(e), signalling immediate policy change for new enforcement settlements

TBD

- Any subsequent SEC guidance, FAQs, or amendments to the Rules of Practice or Enforcement Manual that clarify how post‑settlement denials will be treated in future cases may be issued at a later date

Compliance Impact

Non‑compliance will not typically arise from the policy rescission itself, but from making public statements that conflict with specific settlement terms, are misleading to investors, or undermine other legal obligations. Missteps in this area can trigger renewed SEC scrutiny, private securities litigation exposure, reputational damage, and potential challenges with insurers and other regulators.

References

AI-generated analysis. May contain errors or omissions — verify with the original SEC source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

Asset ManagerBroker DealerBank

🇪🇺 ECB News

May 18th 2026

Patrick Montagner: Banking supervision, integration and competitiveness in Europe

No description available.

Sectors:

Prudential / Capital Requirements Authorisation & Licensing Senior Managers / Governance

Topics:

Bank

🇬🇧 FCA Policy medium

May 18th 2026

Our response to the Treasury’s policy statement on Consumer Credit Act reform

The Treasury has published its policy statement today on reform of the Consumer Credit Act 1974 (CCA). Reform of the CCA is an important step towards a more flexible regime that supports effective competition and innovation, while maintaining appropriate consumer protection both now and in the future. The proposals set out a framework that places greater emphasis on FCA rules and guidance rather than prescriptive requirements set out in legislation.We intend to consult on the key elements of ...

AI Analysis

HM Treasury has issued a policy statement on reform of the Consumer Credit Act 1974 (CCA), signalling a strategic shift from prescriptive, statute-based requirements towards an FCA rulebook-led regime for consumer credit. The FCA’s response confirms it will consult on moving key CCA elements into FCA rules and guidance, anchored in the Consumer Duty, which will materially reshape documentation, processes and conduct standards across the consumer credit lifecycle.

What Changed

- The UK Government has confirmed a programme to reform the Consumer Credit Act 1974, moving away from detailed prescriptive legislative requirements towards a more flexible framework based on FCA...
The FCA has stated its intention to consult on “key elements” of the consumer credit framework that are currently in primary or secondary legislation, where it has the power to do so, covering the...
The Consumer Duty (Principle 12, PRIN 2A) is explicitly confirmed as the overarching framework for the future consumer credit regime, meaning consumer credit firms will be expected to demonstrate...
The FCA has signalled that existing consumer rights and protections under the CCA (including cancellation and withdrawal rights, termination, and early settlement rights) will be reviewed and...
Any new FCA rules arising from CCA reform will be supported by a formal cost–benefit analysis and shaped through stakeholder engagement, implying a structured consultation process (likely one or more...

Suggested Considerations

Establish an internal CCA reform working group (legal, compliance, product, operations) to track HM Treasury and FCA publications on Consumer Credit Act reform and prepare coordinated responses.
Map all existing product lines and customer journeys against current CCA and CONC requirements to identify areas most likely to be affected if obligations move from legislation into FCA rules (e.g. pre‑contract disclosure, notices of sums in arrears, default notices, early settlement calculations).
Review your Consumer Duty implementation for consumer credit products (especially outcomes testing, fair value assessments and customer support processes) to ensure it can absorb additional or re‑framed requirements that may migrate from the CCA into the FCA Handbook.
Compile an inventory of CCA‑dependent documentation (agreements, pre‑contract information, statutory notices, arrears and default letters, early settlement communications) and assess the effort required to update them if the form or content requirements are recast in FCA rules.
Enhance regulatory horizon‑scanning processes to include systematic monitoring of HM Treasury CCA reform material and FCA consultations, ensuring early awareness of consultation questions and proposed Handbook text.

Key Dates

Sectors:

Topics:

Bank

🇮🇪 CBI News

May 15th 2026

Central Bank announces appointment of new Director of Finance and Business Performance

The Central Bank has today (15 May 2025) announced the appointment of Glenn Calverley to the role of Director of Finance and Business Performance. Mr Calverley will take up his role with effect from 1 September 2026. Glenn brings a wealth of experience to this role, most recently as Director of Strategy & Governance, a role he has held since 2021. He joined the Central Bank in 2015, initially as Head of Organisational Risk and later as Head of Strategy & Foresight. Prior to joining the Centra...

Sectors:

Technology & Cyber Senior Managers / Governance

Topics:

Wealth ManagerBank

🇮🇪 CBI Speech

May 15th 2026

Central Bank publishes T.K. Whitaker’s memoir

Central Bank of Ireland has made the memoir of former Governor T.K. Whitaker available digitally for the first time. While the memoir has been available for in-person viewing in the Central Bank's archives, it is now accessible online at www.centralbank.ie , allowing a wider audience to engage with this important historical document. The publication of T.K. Whitaker's Memoir : Central Bank and Government, 1969-1976 marks 110 years since T.K. Whitaker’s birth and 50 years since the end of his ...

Sectors:

Technology & Cyber Market Abuse / Surveillance

Topics:

BankFintech

🇬🇧 BoE Speech

May 14th 2026

Operational resilience in a rapidly changing world − speech by Liz Oakes

Given at the KPMG and Fitch Ratings London Banking Summit

Sectors:

Operational Resilience / Outsourcing Technology & Cyber

Topics:

Bank

🇬🇧 BoE Speech

May 14th 2026

The Importance of Choice in Payments − speech by Victoria Cleland

Given at Banknote Conference, Washington DC

Sectors:

Topics:

BankFintech

🇬🇧 FCA Speech

May 14th 2026

Working together against financial crime

Speech by Nikhil Rathi, FCA chief executive at the FCA's financial crime conference. A new threat landscapeFinancial crime is changing – fast.It’s more technologically enabled. More organised than ever before. And moving at speed.Which is why the fight against financial crime sits at the heart of our 5-year strategy.But it’s not just the volume that’s changed; it’s who is behind it.Organised criminal groups running professional networks that operate across borders.Take investment fraud.A pers...

Sectors:

AML / Financial Crime Consumer Protection / Conduct Technology & Cyber

Topics:

All Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 FCA News

May 13th 2026

FCA announces new appointments to executive team

The FCA has announced 2 permanent appointments to its executive team, strengthening leadership at a pivotal time for UK and global financial markets. Simon Walls appointed executive director, marketsSimon Walls has been appointed permanent executive director, markets. Having taken on this role on a temporary basis since 2024, his appointment provides continuity at a vital and volatile time for the UK and global economy. Simon will be able to drive forward work he has already started to streng...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Technology & Cyber

All Firms

Banking & Credit Wealth & Private Banking Insurance & Pensions

🇬🇧 FCA News

May 13th 2026

FCA reviews whether investment firms are doing enough to support bereaved customers

The FCA is reviewing how consumer investment firms support bereaved customers and whether they're getting it right. Fewer than half of bereaved customers (47%) felt they received the support they needed from financial firms, according to research (PDF).What the FCA is looking atThe review will focus on firms that advise, manage, or administer investments - including platforms, advisers and wealth managers. The FCA will examine the experience customers have from the moment the firm is told abo...

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber

Wealth Manager

🇩🇪 BaFin News high

May 13th 2026

Bafin warns consumers about the website gutekredit(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the company GUTEKREDIT and the services it is offering. Bafin suspects the unknown operators, who purportedly have their registered office in Ludwigsburg, Germany, of using the website gutekredit(.)com to offer loans to consumers and thus conduct banking business without the required authorisation.

Sectors:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

Topics:

BankFintech

🇪🇺 ECB News

May 13th 2026

Frank Elderson: “Market fragmentation is banks’ real constraint”

No description available.

Sectors:

Technology & Cyber Market Abuse / Surveillance

Topics:

Bank

Banking & Credit Investment Management Payments & E-Money

🇩🇪 BaFin News

May 13th 2026

satrex-kapital(.)com: Bafin warns about websites and points to identity fraud

The German Financial Supervisory Authority (Bafin) warns against the website satrex-kapital(.)com, which is operated under the name Satrex Kapital. The company, which claims to be based in Frankfurt am Main, offers instant access savings accounts and fixed-term deposits, as well as investment advice. Contrary to the information provided in the website’s legal notice and the contractual documents used, there is no connection whatsoever with Satrex S.A., Brussels, Belgium. This is a case of ide...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇳🇱 AFM News

May 13th 2026

Ondernemingen hoeven geen aparte AMLA-uitvraag te verwachten

De Europese Anti-Witwasautoriteit (AMLA) heeft op 12 mei in een persbericht het definitieve eligibility reporting package gepubliceerd en kondigt aan dat zij extra data opvraagt via de nationale toezichthouders. Financiële ondernemingen onder Nederlands toezicht hoeven geen afzonderlijke rapportage volgens het AMLA-template aan te leveren. De vragen zijn geïntegreerd in bestaande vragenlijsten van de Autoriteit Financiële Markten (AFM).

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

Asset ManagerBankCrypto Exchange

Crypto & Digital Assets Banking & Credit Payments & E-Money

🇩🇪 BaFin News

May 13th 2026

helixapp(.)de / helix-app(.)pro / coinberg(.)eu / coinberg(.)pro: Bafin warns against websites and calls attention to identity theft

The German Financial Supervisory Authority (Bafin) warns against the websites helixapp(.)de, helix-app(.)pro, coinberg(.)eu, coinberg(.)pro, which are operated under the name Helix-A and Coinberg. It is suspected that the unknown operators are offering financial and crypto-asset services without authorisation. Consumers are being misled into investing in financial instruments such as crypto-assets. Contrary to the operators’ claims, there is no connection whatsoever with Gesellschaft für Kryp...

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

Crypto ExchangeFintechAll Firms

🇺🇸 CFTC News

May 12th 2026

CFTC Approves Capital Comparability Determination and Order for Certain Nonbank Swap Dealers Domiciled in the European Union

No description available.

Sectors:

Prudential / Capital Requirements Technology & Cyber

Topics:

Broker DealerBank

Banking & Credit Investment Management Capital Markets & Trading

🇱🇺 CSSF Enforcement low

May 12th 2026

Law of 5 May 2026 (only in French)

1° amending:(a) the Law of 5 April 1993 on the financial sector, as amended;(b) the Law of 17 December 2010 relating to undertakings for collective investment, as amended;(c) the Law of 18 December 2015 on the failure of credit institutions and certain investment firms, as amended;(d) the Law of 15 March 2016 on OTC derivatives, central counterparties and trade repositories and amending different laws relating to financial services, as amended;2° transposing:(a) Directive (EU) 2024/1619 of th...

Sectors:

Topics:

AML / Financial Crime ESG Technology & Cyber

Bank

Banking & Credit Wealth & Private Banking Insurance & Pensions Capital Markets & Trading Crypto & Digital Assets

🇬🇧 FCA News

May 12th 2026

FCA fines and bans Frank Breuer for serious misconduct in pension transfer advice

The FCA has banned Frank Breuer from working in UK financial services and fined him £755,000 for repeatedly acting without integrity and putting customers at risk for personal financial gain. Mr Breuer was the joint owner and sole director of Bluesky Wealth Management Limited (Bluesky), which provided advice on investments and pensions. Although authorised to advise on defined benefit (DB) pension transfers, the firm did not have the appropriate professional insurance in place from April 2019...

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Technology & Cyber

Wealth ManagerCrypto ExchangeInsurance

🇳🇱 AFM News

May 12th 2026

Ga actief discriminatie in dienstverlening tegen

Mensen ervaren discriminatie, ook in hun contact met banken. Banken erkennen het probleem van ervaren discriminatie in hun dienstverlening, zo blijkt uit ons onderzoek naar hoe banken discriminatie tegengaan. Deelnemende banken deelden constructief en open met ons wat zij doen om discriminatie tegen te gaan. Discriminatie is vaak een onbedoeld gevolg van processen gericht op het verminderen van risico’s, en schendt het klantbelang. De AFM verwacht van financiële ondernemingen dat zij actief (...

Sectors:

Topics:

Bank

🇦🇪 DFSA News

May 12th 2026

Sectors:

Technology & Cyber Senior Managers / Governance

Topics:

Bank

Banking & Credit Investment Management Capital Markets & Trading Payments & E-Money Crypto & Digital Assets Consumer Credit

🇮🇪 CBI Enforcement low

May 7th 2026

“Capital, Competition, and Complexity – regulatory perspectives on the regulatory debate” – Remarks by Deputy Governor Mary-Elizabeth McMunn

Introduction Good morning – I am delighted to be here, and many thanks to Brian and the BPFI for hosting us. 1 I very much look forward to the discussion, and to hearing from you all today, but before I do I would like to set out some reflections on a number of topics which are currently high on the regulatory agenda. While the discussion is multifaceted, and tied up with a regulatory cycle which has turned, an economic one which has become more challenging, not to mention a renewed focus by ...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

All Firms

Banking & Credit Capital Markets & Trading Payments & E-Money Consumer Credit

🇮🇪 CBI Speech

May 7th 2026

Central Bank publishes research on the Irish lending market and reinforces importance of capital and resilience

Central Bank loan-level research shows the Irish lending market is significantly less concentrated when considering the full diversity of lenders. Robust capital and liquidity positions have served the sector well – with the evidence not supporting a lowering of overall levels of resilience on the basis of bank credit, profitability or international competitiveness. Central Banks best serve these broader objectives related to productivity and growth by delivering on their core mandates, effec...

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Technology & Cyber

Bank

🇪🇺 ECB News

May 6th 2026

Claudia Buch: “The Prudential Regulation of Banks” – Practical Implications for European Supervision

No description available.

Sectors:

Topics:

Bank

🇪🇺 ECB Consultation critical

May 6th 2026

Claudia Buch: Eurosystem’s response to the consultation on the competitiveness of the EU banking sector

No description available.

Sectors:

Topics:

Technology & Cyber

Bank

🇩🇪 BaFin Enforcement medium

May 4th 2026

Publication of financial reports: Federal Office of Justice imposes disciplinary fine on ZhongDe Waste Technology AG

On 7 November 2025, the Federal Office of Justice (Bundesamt für Justiz - BfJ) imposed a disciplinary fine amounting to 50.000 euros on ZhongDe Waste Technology AG

AI Analysis

The Federal Office of Justice (Bundesamt für Justiz – BfJ) has imposed a disciplinary fine of 50,000 euros on ZhongDe Waste Technology AG for failing to file its 2024 consolidated financial statements electronically with the operator of the German Federal Gazette (Bundesanzeiger), in breach of section 325 HGB, with the sanction based on section 335 HGB. This enforcement action underscores that German disclosure rules on publication of annual and consolidated accounts are actively enforced and that failures to file with the Bundesanzeiger can lead to material monetary sanctions and repeated measures against issuers already in scope of BaFin transparency proceedings.

What Changed

- The case confirms the continued strict enforcement by the Federal Office of Justice of section 325 HGB requirements that consolidated accounting documents be submitted to the Bundesanzeiger in...
The decision illustrates the application of section 335 HGB, including the possibility of imposing disciplinary fines of up to 50,000 euros for non-compliance with disclosure obligations relating to...
The publication reinforces that failure to submit consolidated financial statements for a given financial year (here, 2024) for disclosure purposes constitutes a breach regardless of any parallel...
The case signals that the BfJ will proceed to final sanction where the company does not appeal the disciplinary fine order, and that lack of appeal results in a binding enforcement outcome.
The enforcement adds to a pattern of repeated transparency/reporting violations by the same issuer, highlighting regulators’ willingness to sanction persistent non-compliance with both HGB corporate...

Suggested Considerations

Review and map all statutory disclosure obligations under sections 325 to 335 HGB, including deadlines and format requirements for the submission of annual and consolidated financial statements to the Bundesanzeiger.
Establish or enhance internal controls to ensure that consolidated accounting documents for each financial year are prepared, approved and submitted electronically to the Bundesanzeiger within the one-year deadline from the balance sheet date.
Implement a compliance calendar that explicitly tracks HGB disclosure deadlines alongside WpHG financial reporting and publication obligations (annual reports, half-yearly reports, and related announcements) to avoid gaps between corporate and capital markets requirements.
Assign clear responsibility to specific senior managers or functions (e.g. CFO, Head of Accounting, Company Secretary) for timely Bundesanzeiger filings and ensure these responsibilities are reflected in role descriptions and governance documentation.
Conduct a gap analysis of prior years’ disclosures to confirm that all required annual and consolidated financial statements have been properly filed with the Bundesanzeiger and publicly available; remediate any missing filings without delay.

Key Dates

18 October 2023

Sectors:

Topics:

Technology & Cyber

Bank

🇮🇪 CBI Warning

May 1st 2026

Patrick Loans Ireland - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Bank

🇮🇪 CBI Warning

May 1st 2026

On 20 April 2026, the Federal Financial Supervisory Authority (Bafin) imposed an administrative fine amounting to €1,000,000 on flatexDEGIRO SE on the grounds that the company had infringed the Market Abuse Regulation (MAR) at the end of 2022. It had failed to disclose inside information to the public as soon as possible. The inside information concerned the findings from a special inspection carried out at flatexDEGIRO Bank AG in accordance with section 44 of the German Banking Act (KWG) in ...

AI Analysis

BaFin has imposed a €1,000,000 administrative fine on flatexDEGIRO SE for a breach of Article 17(1) MAR in late 2022, specifically for failing to disclose inside information “as soon as possible” via an ad hoc announcement and instead releasing the information late and only as a press release. The case underscores that BaFin treats supervisory findings under section 44 KWG which reveal organisational shortcomings as price‑sensitive inside information and expects German‑domiciled listed issuers to use full MAR‑compliant ad hoc disclosures, not generic press communications, when such findings arise.

What Changed

- BaFin confirms that supervisory findings from a section 44 KWG special inspection that identify shortcomings in proper business organisation can constitute inside information requiring ad hoc...
BaFin re‑emphasises that issuers must disclose inside information “as soon as possible” and that delayed or gradual communication via standard press releases does not satisfy MAR ad hoc disclosure...
BaFin reiterates its power to impose administrative fines for failures to publish inside information in a timely and proper manner, up to €2.5 million or 2% of total revenue, and demonstrates its...
BaFin clarifies that the appropriate format for investor‑relevant inside information is a MAR‑compliant ad hoc disclosure, not a general press release, and that any delay or downgrading of format can...
The publication reinforces that issuers domiciled in Germany whose instruments are traded on organised markets or MTFs remain fully subject to MAR ad hoc disclosure obligations, including for...

Suggested Considerations

Review and update internal MAR Article 17 policies to ensure that all supervisory findings, particularly section 44 KWG special inspections revealing organisational shortcomings, are assessed promptly and systematically for potential classification as inside information.
Implement or strengthen formal escalation procedures so that supervisory findings and other potential inside information are immediately escalated from risk, compliance, and legal to the issuer’s disclosure committee or senior management for rapid ad hoc disclosure decisions.
Ensure that any information determined to be inside information is disclosed “as soon as possible” via a formal MAR‑compliant ad hoc announcement and not merely via a standard press release or non‑regulated communication channel.
Review current disclosure controls and procedures to confirm that ad hoc announcements are distinguished clearly from general press releases, including separate workflows, templates, approval chains, and distribution lists.
Conduct a gap analysis of past supervisory communications and regulatory inspections to confirm that no potentially price‑sensitive findings were handled only as press releases; remediate control failures and document lessons learned.

Key Dates

2022 (end of year)

Sectors:

Topics:

All Firms

🇩🇪 BaFin News

April 24th 2026

UniCredit S.p.A.: Bafin prohibits unlawful advertising

Bafin has ordered UniCredit S.p.A. to cease publishing unobjective advertising in connection with the takeover bid for Commerzbank AG.

Sectors:

Consumer Protection / Conduct Market Abuse / Surveillance

Topics:

Bank

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇪🇺 ESMA News

April 24th 2026

Joint Committee annual report highlights digitalisation, cyber resilience and sustainable finance as key priorities of 2025

Joint Committee annual report highlights digitalisation, cyber resilience and sustainable finance as key priorities of 2025 24 April 2026 Joint Committee The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published its Annual Report for 2025 , setting out the main priorities and achievements of its cross-sectoral work over the past year. In 2025, the Joint Committee focused on protecting consumers in increasingly digital financial markets, stren...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Operational Resilience / Outsourcing

Fintech

Banking & Credit Investment Management Insurance & Pensions

🇮🇪 CBI Warning

April 24th 2026

Financial institutions are working to make their digital services accessible. This is important, because it ensures that people with disabilities can manage their finances independently. To provide further guidance to the sector, the Autoriteit Financiële Markten (AFM) shares expectations and points of attention in the third EAA update. In the coming months, we will conduct a compliance review on accessibility. We encourage the sector to further refine their notifications of non compliance.

AI Analysis

AFM’s third EAA update makes clear that Dutch financial institutions must not only fix accessibility gaps, but also **assign clear internal accountability**, **embed accessibility compliance in governance and monitoring**, and **submit more specific non-compliance notifications**. AFM also announced a **sector-wide compliance review in the coming months**, with a focus on whether websites meet WCAG criteria, especially **level A** requirements, so compliance teams should treat this as an active supervisory campaign rather than routine guidance.

What Changed

- AFM expects financial institutions to identify accessibility risks in their digital services and implement improvements that meet the required WCAG criteria.
AFM expects firms to embed and monitor accessibility through internal processes, rather than treating accessibility as a one-off remediation project.
AFM is emphasizing clear accountability for safeguarding digital accessibility, which means firms should be able to show who owns accessibility compliance, monitoring, and remediation internally.
AFM says EAA notifications of non-compliance must be more specific, because current submissions often do not describe the exact accessibility issues or where they are located.
AFM has published further instructions on how to answer certain questions in the EAA notification form, indicating a stronger supervisory focus on the quality of regulatory reporting.

Suggested Considerations

Firms should map all consumer-facing digital services and identify which websites, apps, and digital documents fall within EAA/WCAG scope.
Firms should assign a named internal owner for accessibility compliance, monitoring, remediation tracking, and regulatory notifications.
Firms should document accessibility risks and remediation plans for each in-scope digital service, including the precise pages, functions, or documents affected.
Firms should embed accessibility checks into design, development, testing, and change-management processes so compliance is monitored continuously.
Firms should review EAA non-compliance notifications and make them more specific, including the exact accessibility issues, affected locations, and remediation status.

Key Dates

28 June 2025

- The European Accessibility Act came into force, and Dutch national measures began applying to covered new products and services

Coming months (TBD, est. late 2026) DEADLINE

- AFM will conduct an accessibility compliance review of the sector, focusing on WCAG compliance, especially level A criteria

23 April 2026 DEADLINE

- AFM published its third EAA update and announced a forthcoming sector compliance review

Compliance Impact

The compliance risk is material because AFM is moving from guidance to active review and may directly challenge firms with shortcomings. In practice, poor documentation, vague notifications, or weak governance can expose firms to supervisory intervention, remediation orders, and escalating scrutiny over the accessibility of consumer-facing channels.

References

AI-generated analysis. May contain errors or omissions — verify with the original AFM source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Senior Managers / Governance

BankFintechInsurance

Banking & Credit Investment Management Capital Markets & Trading

🇦🇪 ADGM News

April 22nd 2026

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Technology & Cyber

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 BoE News medium

April 17th 2026

Minutes of the SONIA Stakeholder Advisory Group - 24 March 2026

The SONIA Stakeholder Advisory Group supports the Bank’s administration of SONIA by providing advice and technical input to the Bank and the SONIA Oversight Committee

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Market Abuse / Surveillance

BankBroker DealerFintech

Banking & Credit Investment Management Payments & E-Money

🇱🇺 CSSF Consultation high

April 17th 2026

Public consultation by AMLA on the draft RTS on group-wide minimum requirements and additional measures for subsidiaries and branches in third countries

No description available.

AI Analysis

The CSSF publication highlights AMLA's public consultation on draft Regulatory Technical Standards (RTS) under Articles 16(4) and 17(3) of Regulation (EU) 2024/1624, specifying minimum group-wide AML/CFT requirements and additional measures for subsidiaries and branches in third countries. This matters because it aims to harmonize cross-border AML frameworks, ensuring groups maintain consolidated ML/TF risk views and robust controls, particularly in high-risk third-country operations, impacting EU financial groups' compliance structures. Private sector input is encouraged to align standards with practical operations.[https://www.cssf.lu/en/Document/public-consultation-by-amla-on-the-draft-rts-on-group-wide-minimum-requirements-and-additional-measures-for-subsidiaries-and-branches-in-third-countries/][https://www.amla.europa.eu/amla-consults-group-wide-requirements-and-business-wide-risk-assessment_en]

What Changed

- Group-wide AML/CFT frameworks: Establishes minimum standards for design and implementation across groups, including cross-border structures and third-country operations, to enable consolidated...
Third-country subsidiaries and branches: Introduces additional measures for entities in non-EU countries, extending requirements beyond traditional groups to other...
Information sharing and parent identification: Defines provisions for intra-group data sharing and criteria to identify the EU parent undertaking when multiple entities report to a third-country head...
Interlinked mandates: Cross-references obligations between Articles 16(4) and 17(3) for complementary requirements on organizational...

Suggested Considerations

Register for 20 May 2026 public hearing to engage directly on practical application across group structures.[https://www.amla.europa.eu/events/public-hearing-draft-rts-group-wide-minimum-requirements-and-additional-measures-subsidiaries-and-2026-05-20_en]
Assess current group-wide AML/CFT frameworks against proposed minimums, identifying gaps in third-country controls, risk consolidation, and data sharing protocols.

Compliance Impact

Urgency: High – Firms with third-country exposure must act now on consultation (closes 15 July 2026) to influence final RTS, as these will mandate binding minimums for group-wide AML/CFT, potentially requiring significant framework overhauls for risk consolidation and controls. Non-engagement risks misaligned systems post-adoption, increasing supervisory scrutiny under harmonized EU standards; early assessment prevents rushed...

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Consultation high

April 17th 2026

Public consultation by AMLA on the draft Guidelines on business-wide risk assessment

No description available.

AI Analysis

AMLA has launched a public consultation on draft Guidelines for business-wide risk assessments (BWRA) under the new Anti-Money Laundering Regulation (EU 2024/1624), with submissions open until 15 July 2026. These guidelines establish minimum requirements for all obliged entities across financial and non-financial sectors to systematically identify and manage money laundering and terrorist financing risks inherent to their operations.

What Changed

The draft Guidelines introduce four minimum requirements for conducting adequate business-wide risk assessments applicable to all obliged entities. The framework mandates that entities:
Identify risk exposure across their business model, customers, products, services, transactions, delivery channels, and geographical exposure
Maintain consolidated risk views across group structures, eliminating silos between branches and subsidiaries
Utilize internal and external data sources to build comprehensive risk landscapes, including monitoring customer behavior changes and tracking international typologies
Apply proportionality based on entity size, business model, and risk profile, while ensuring consistent application of policies across the organization The guidelines specifically address evaluation...

Suggested Considerations

*Immediate (by 15 July 2026):
Review draft Guidelines and assess alignment with current BWRA practices
Identify gaps between existing risk assessment frameworks and proposed minimum requirements
Prepare formal consultation responses, particularly if your organization operates in non-financial sectors
Register for relevant public hearings (28 May for BWRA Guidelines; 20 May for group-wide RTS) to engage directly with AMLA

Key Dates

Later in 2026

- Final adoption of guidelines and technical standards

16 April 2026

Consultation paper 7/26

AI Analysis

The PRA's CP7/26 consultation proposes fee rates and amendments to the Fees Part of the PRA Rulebook for 2026/27 to meet a Total Funding Requirement (TFR) of £346.6 million, down 1% from 2025/26, primarily funding Ongoing Regulatory Activities (ORA) at £329.3 million. This matters for PRA-authorised firms as it involves adjusted periodic fees across blocks, increased allocations for initiatives like Future Banking Data, and other targeted fees, requiring budget planning and potential consultation responses.

What Changed

- Proposed fee rates to cover the 2026/27 Annual Funding Requirement (AFR) of £329.3 million (ORA only, down 2% from 2025/26).
Increased cost allocation for the Future Banking Data (FBD) programme, from £3.2 million to £6.8 million (111% rise), contributing to 'other fees to industry' rising 26% to £17.4 million.
Adjustments to specific fees: internal model application fees, model maintenance fee (£9.6 million, unchanged), Special Project Fee for restructuring, and new firm authorisation fees for Type 1...
Fee block variations, e.g., A1 (Modified Eligible Liabilities) fee rates down 7% despite 6% tariff data growth; A3 (Gross Written Premiums) down 4%, Best Estimate Liabilities down 2%; minimum fees...
Overall TFR down 1% to £346.6 million, with provisional figures subject to revision based on final costs.

Suggested Considerations

Review proposed fee impacts using tariff data (e.g., via PRA-provided tables) and budget for 2026/27 TFR, including potential increases in FBD/other fees.
Submit responses by 15 May 2026, indicating confidentiality preferences, consent to name publication, and whether responding individually or for an organisation; personal data will be handled per Bank privacy notice.
For new applicants or restructuring firms: Factor in updated authorisation and Special Project Fees during planning.
Monitor PRA Business Plan 2026/27 for funded activities context.

Key Dates

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

BankBroker DealerWealth Manager

🇦🇺 ASIC News high

April 17th 2026

Cigno Australia and director Mark Swanepoel, BSF Solutions and director Brenton Harrison, to pay $7 million in penalties for Credit Act breaches

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

FintechAll Firms

Investment Management Banking & Credit Wealth & Private Banking

🇨🇭 FINMA News medium

April 17th 2026

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Market Abuse / Surveillance

Asset ManagerBankWealth Manager

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

🇪🇺 ESMA Consultation medium

April 16th 2026

ESMA launches a call for evidence on restricted subscription and private credit ratings

ESMA launches a call for evidence on restricted subscription and private credit ratings 16 April 2026 Credit Rating Agencies The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today launched a call for evidence to gather stakeholder views on the purposes, market practices, needs and risks associated with restricted subscription and private credit ratings. ESMA is encouraging all interested stakeholders to share views, data and analysis i...

AI Analysis

ESMA has launched a call for evidence on restricted subscription and private credit ratings to gather stakeholder input on their market practices, uses, risks, and potential regulatory gaps under the CRA Regulation. This matters because rising use of these non-public ratings could prompt future clarifications or adjustments to ensure consistent standards with public ratings, impacting credit rating agencies (CRAs) and users reliant on them for regulatory or investment purposes.

What Changed

There are no immediate regulatory changes; this is a fact-finding call for evidence to assess whether adjustments to the CRA Regulation are needed. ESMA seeks views on definitions (e.g., restricted subscription ratings as selectively distributed to limited subscribers with economic interest; private ratings excluded from CRA scope if not distributed to >150 persons), production processes, governance comparability to public ratings, distribution risks, and market needs. Potential future outcomes include enhanced clarity on CRA Regulation application, but none are confirmed yet.

Suggested Considerations

Review the full Call for Evidence document and annexes for specific questions on restricted subscription (Annex I) and private credit ratings (Annex II).
Prepare and submit evidence-based responses addressing key areas: use cases/benefits vs. public ratings, contracting/distribution parties, analytical/governance comparability, transparency impacts, risks/mitigations, and multi-CRA practices.
Provide quantitative data, concrete examples, and rationale; indicate specific questions and alternatives considered.
Submit online by 31 May 2026 using the docx reply form; note responses may be published unless confidentiality requested.

Key Dates

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News medium

April 16th 2026

The EBA Guidelines and Recommendations (Updated)

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 CFTC News high

April 15th 2026

CFTC Secures Court Order Requiring Florida Resident to Pay Over $1.3 Million in Disgorgement and Imposes Trading Ban for Commodity Pool Fraud

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerAsset Manager

Banking & Credit Capital Markets & Trading Investment Management

🇫🇷 AMF News high

April 15th 2026

The AMF welcomes the first criminal rulings in an insider network case

MAR Journalists Listed companies and issuers The AMF welcomes the first criminal rulings in an insider network case

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

AML / Financial Crime Authorisation & Licensing Consumer Protection / Conduct

🇨🇭 FINMA Enforcement high

April 14th 2026

Aktualisierte Sanktionsmeldung: Islamische Republik Iran

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 12 und 14 der Verordnung vom 12. Dezember 2025 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.

AI Analysis

This FINMA publication announces updates to Annexes 12 and 14 of the Swiss Ordinance on Measures against the Islamic Republic of Iran (SR 946.231.143.6), effective April 14, 2026, reflecting changes to the SECO Sanctions Management (SESAM) database by the State Secretariat for Economic Affairs (SECO). It matters because Swiss financial intermediaries must immediately freeze assets of newly or amended sanctioned entities and report to SECO, while continuing AML due diligence under the Anti-Money Laundering Act (GwG), to avoid supervisory enforcement.[User Query]

What Changed

- Amendments to Annexes 12 and 14 of the Ordinance SR 946.231.143.6, updating the list of sanctioned persons, companies, and organizations in the context of Iran sanctions.[User Query]
Updates propagated to the SESAM database, published on the WBF/SECO website.[User Query]
Standard requirements reiterated: Implement prohibitions, freeze assets of sanctioned parties, and report affected business relationships to SECO; SECO reporting does not exempt additional GwG Art.

Suggested Considerations

Screen client portfolios, accounts, and transactions against the updated SESAM database and Annexes 12/14 immediately.
Freeze assets of any newly sanctioned or amended persons/entities without delay.
Report all affected business relationships to SECO promptly.
Conduct enhanced due diligence under GwG Art. 6 for any suspicion; if unresolved, file a suspicious activity report (SAR) with MROS under GwG Art. 9.
Monitor FINMA's MyFINMA portal and website for ongoing updates; update internal sanctions screening systems.[User Query]

Key Dates

Crypto ExchangeFintechPayment Provider

🇬🇧 FCA News high

April 14th 2026

FCA bans CMC's misleading adverts

Adverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the FCA logo without permission, have been banned by the FCA. Conclusive Financial Ltd (Conclusive), a claims management company (CMC), which also trades as PCP Refunds, was required to remove its advertising and update or take down its website until it complied with the FCA's rules. Conclusive has since removed the banned adverts.The FCA was also concerned...

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

All Firms

🇮🇪 CBI Enforcement medium

April 14th 2026

Finance Advice Help- Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Retail Credit Firm Unauthorised Firm Name Finance Advice Help Website Financeadvicehelp.com Email address used contact@financeadvicehelp.com Authorisation in Ireland Finance Advice Help is not authorised to provide retail credit services in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or report an unauthorised firm directly to the Central Bank . For more information on how to pr...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying "Finance Advice Help" (website: financeadvicehelp.com; email: contact@financeadvicehelp.com) as an unauthorised firm providing retail credit services in Ireland. This matters for compliance professionals as it underscores CBI's proactive enforcement against unauthorised entities, heightening risks of consumer scams and potential liability for authorised firms if clients inadvertently engage with clones or similar frauds.[Source URL: https://www.centralbank.ie/news/article/finance-advice-help--central-bank-of-ireland-issues-warning-on-unauthorised-firm]

What Changed

This is not a regulatory change but an enforcement action via a public warning notice. It reinforces existing requirements under the Central Bank (Supervision and Enforcement) Act 2013 (section 53), which empowers CBI to publish names of unauthorised firms offering regulated services like retail credit. No new rules are introduced; it signals ongoing vigilance against unauthorised retail credit providers.[Source URL: https://www.centralbank.ie/news/article/finance-advice-help--central-bank-of-ireland-issues-warning-on-unauthorised-firm]

Suggested Considerations

Verify firm status: Use CBI's unauthorised firms search tool before engaging with any retail credit provider (https://www.centralbank.ie/regulation/how-we-regulate/authorisation/unauthorised-firms/search-unauthorised-firms).
Report suspicions: Contact CBI at (01) 224 5800 or via direct reporting portal for any dealings with Finance Advice Help or similar entities.[Source URL: https://www.centralbank.ie/news/article/finance-advice-help--central-bank-of-ireland-issues-warning-on-unauthorised-firm]
Educate clients/staff: Disseminate scam protection guidance from www.centralbank.ie/financialscams; implement "SAFE test" for verification.[Source URL: https://www.centralbank.ie/news/article/finance-advice-help--central-bank-of-ireland-issues-warning-on-unauthorised-firm]
Monitor clones: Screen for impersonation risks, as seen in related warnings (e.g., Shamrock Lend clone).

Key Dates

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

April 14th 2026

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News medium

April 14th 2026

MAS Monetary Policy Statement - April 2026

Read the Monetary Policy Statement for April 2026.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News high

April 14th 2026

OSFI reintroduces non-bank financial institution risk in its latest Annual Risk Outlook

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

🇯🇵 JFSA News low

April 13th 2026

Publication,FSA publishes English translation of monthly magazine, Access FSA No.269

No description available.

Sectors:

Topics:

All Firms

🇬🇧 BoE News medium

April 13th 2026

The Bank of England has today published new and updated guidance on how the Bank might implement the UK’s resolution regime in the event of a bank failure.

AI Analysis

The Bank of England (BoE) has published updated operational guides on implementing the UK's resolution regime for failing banks, including new details on transfer resolutions and an alternate bail-in approach using non-transferable contingent beneficial interests, informed by recent failures like Silicon Valley Bank and Credit Suisse. This matters for compliance professionals as it enhances transparency on BoE execution strategies, strengthens cross-border resolvability (e.g., via a US SEC No-Action Letter), and requires firms to align recovery/resolution plans with these operational clarifications to ensure feasibility and credibility under the Resolvability Assessment Framework (RAF).[BoE News Release](https://www.bankofengland.co.uk/news/2026/april/boe-enhances-resolution-readiness-with-updated-operational-guides)

What Changed

- New Operational Guide to Transfer Resolution: Details BoE's execution of transfers to private sector purchasers or temporary bridge banks, including recapitalisation payments and use of resolution...
Updates to Operational Guide to Bail-in Resolution: Introduces an alternate approach where affected creditors receive non-transferable contingent beneficial interests (simplifying bail-in by...
US SEC No-Action Letter: Confirms non-transferable contingent beneficial interests for US investors need no SEC registration, aiding cross-border bail-in operability.[BoE News...

Suggested Considerations

Assess resolvability: Major firms perform and disclose self-assessments under RAF; address identified barriers or face BoE powers to mandate fixes.
Enhance capabilities: Implement MREL, operational continuity in resolution (OCIR), and Single Customer View for deposits; prepare for recapitalisation or non-transferable interests in bail-in.
Cross-border coordination: US-exposed firms leverage SEC No-Action Letter for bail-in planning; engage BoE on international strategies.[BoE News Release](https://www.bankofengland.co.uk/news/2026/april/boe-enhances-resolution-readiness-with-updated-operational-guides)
Monitor thresholds: Notify BoE/PRA if approaching £25bn assets or account thresholds.

Key Dates

Ongoing DEADLINE

- Firms must maintain resolution packs and MREL compliance; bail-in firms have at least **6 years** (plus up to 2-year extension) to meet end-state MREL, and **minimum 18 months** for additional resolvability requirements

Advance notification DEADLINE

- Modified insolvency firms forecasting £25bn assets or transactional account thresholds within 3 years must inform BoE/PRA

Compliance Impact

Urgency: High - This is guidance, not new rules, but directly impacts resolution plan credibility and RAF assessments, with potential supervisory/enforcement actions for non-alignment (e.g., MREL shortfalls or unresolved barriers). Firms must act proactively to avoid heightened BoE scrutiny, especially post-SVB/Credit Suisse lessons emphasizing bail-in effectiveness and no public fund reliance.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

BankPayment ProviderAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News low

April 13th 2026

From anxiety to action: Helping Australians to plan for their financial future

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

April 13th 2026

Viva Energy reassesses accounting approach after ASIC review, resulting in $25 million impairment

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Consumer Protection / Conduct

BankAsset ManagerWealth Manager

Capital Markets & Trading Investment Management Banking & Credit

🇯🇵 JFSA Consultation high

April 10th 2026

Councils,Draft revisions to the Corporate Governance Code for public consultation

No description available.

AI Analysis

The Financial Services Agency (FSA) and Tokyo Stock Exchange have launched a public consultation on draft revisions to Japan's Corporate Governance Code, with comments due by May 15, 2026. This represents the first major update since 2021 and aims to redirect corporate resource allocation toward growth investments, research and development, and human capital rather than short-term shareholder returns. The revised code will become effective this summer and requires listed companies to submit governance reports by July 2027.

What Changed

The draft revisions introduce several substantive modifications to Japan's corporate governance framework:
Resource Allocation Focus: Boards must continuously examine whether management resources (cash, deposits, real estate, and other assets) are allocated appropriately, with emphasis on growth...
Principles-Based Streamlining: The code has been streamlined to adopt a more principles-based approach, moving from form to substance and reducing prescriptive requirements.
Collective Engagement Promotion: The revisions aim to promote collective and collaborative engagements among investors, strengthening dialogue between companies and investors.
Beneficial Shareholder Transparency: Enhanced transparency requirements regarding the identification of beneficial shareholders.

Suggested Considerations

*For Listed Companies:
*Immediate (by May 15, 2026): Review the draft revisions (Materials 1 and 2) and consider submitting comments during the public consultation period if your organization wishes to influence final provisions.
*Pre-Implementation (Summer 2026): Conduct a comprehensive gap analysis comparing current governance practices against the draft requirements, particularly regarding:
Board processes for examining resource allocation decisions
Documentation of investment policy rationale

Key Dates

Summer 2026

- Official adoption of the revised Corporate Governance Code

May 15, 2026 DEADLINE

- Public consultation comment submission deadline (JST)

June 1, 2026

- Anticipated effective date (based on historical pattern; confirmation pending final adoption)

July 2027 DEADLINE

- Listed companies must submit governance reports under the new code

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original JFSA source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Reporting & Disclosure ESG

Asset ManagerBankAll Firms

Investment Management Capital Markets & Trading Banking & Credit

🇪🇺 ESMA Enforcement medium

April 10th 2026

ESMA publishes latest edition of its newsletter

ESMA publishes latest edition of its newsletter 10 April 2026 ESMA newsletter The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today its latest edition of the Spotlight on Markets newsletter. This edition opens with ESMA’s actions to simplify the retail investor journey and make investing more accessible, setting out steps to support retail participation in capital markets. Top news highlights include the publication of t...

AI Analysis

ESMA's latest *Spotlight on Markets* newsletter (edition 42, published 10 April 2026) summarizes recent supervisory, enforcement, and policy actions, emphasizing simplification of retail investor access, high market risks per the first 2026 TRV report, and key publications on transparency, suitability, MiFID II/MiFIR data, and Listing Act compliance.[User Query] This matters for compliance teams as it signals ESMA's priorities in reducing regulatory burdens while enhancing investor protection and market transparency amid a high-risk environment.

What Changed

The newsletter highlights no immediate binding rules but flags forthcoming or proposed changes via publications:
Trends, Risks and Vulnerabilities (TRV) Report 2026: Identifies high-risk EU financial markets, urging heightened risk monitoring.[User Query]
Annual transparency calculations for equity and equity-like instruments: Updates pre- and post-trade transparency thresholds, published 27 February 2026.[User Query]
Joint EBA-ESMA consultation on revised suitability assessment: Proposes updates to requirements for banks and investment firms on assessing client knowledge and needs under MiFID II.[User Query]
ESMA proposals to simplify MiFID II/MiFIR obligations on market data: Aims to streamline reporting and data access burdens.[User Query]

Suggested Considerations

Review and implement transparency calculations: Adjust trading systems and disclosures for equity/equity-like instruments per 27 February 2026 publication.
Respond to consultations: Submit feedback on suitability (by 25 May 2026), EMIR 3 (20 April), MAR delays (29 April), CCP collateral (30 April); attend 15 April hearing.
Assess TRV risks: Conduct internal risk reviews aligning with high-risk market warnings; update policies on retail investor journeys and fund costs.[User Query]
Update compliance programs: Incorporate MiFID II/MiFIR simplification proposals, Listing Act statement, market abuse guidelines, EMIR 3, sustainability reporting, and new Q&As.[User Query]
Monitor enforcement: Review supervisory actions for peer benchmarks (e.g., similar to prior MFSA review).

Key Dates

27 February 2026

Publication of annual transparency calculations for equity and equity-like instruments

10 April 2026

Release of first 2026 TRV report and newsletter; .

15 April 2026

Public hearing on EBA-ESMA joint guidelines on suitability of management body and key function holders

20 April 2026 DEADLINE

Consultation deadline on regulatory standards for post-trade risk reduction services under EMIR 3

29 April 2026

Consultation on MAR Guidelines on delay in disclosure of inside information

Compliance Impact

Urgency: Medium. This newsletter compiles ongoing developments rather than enacting immediate rules, but tied consultations (e.g., suitability by 25 May 2026) and recent publications (e.g., transparency calculations) require prompt review to avoid enforcement risks in a high-risk market flagged by TRV.[User Query] It matters for aligning with ESMA's simplification push while preparing for stricter suitability, data, and risk rules, potentially reducing costs but increasing scrutiny on retail protection and transparency.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Market Abuse / Surveillance

Asset ManagerBroker DealerBank

🇮🇪 CBI Warning high

April 10th 2026

Sectors:

Technology & Cyber Operational Resilience / Outsourcing

Topics:

BankFintech

Banking & Credit Capital Markets & Trading Investment Management

🇦🇺 ASIC News high

April 10th 2026

Former Big Un CEO pleads guilty in insider trading case

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

April 10th 2026

ASIC permanently bans Yanhua Chen from the financial services industry

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Asset ManagerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

April 10th 2026

Shane Monte Silva banned for five years over flawed Shield and First Guardian advice

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Wealth ManagerBank

Banking & Credit Investment Management Insurance & Pensions

🇦🇺 ASIC News high

April 10th 2026

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Insurance & Pensions

🇸🇨 FSA Seychelles News medium

April 9th 2026

Procurement Tender

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerInsurance

🇦🇺 ASIC News high

April 9th 2026

The Central Bank of Ireland today announced details of a targeted amendment to the mortgage measures that will exempt certain principal home bridging loans from the Loan-to-Income (LTI) limit . The Loan-to-Value (LTV) limit will continue to apply to these products, and all other elements of the mortgage measures remain unchanged. The amendment recognises that bridging finance products are a feature of the evolving Irish mortgage market and ensures that the regulatory framework adapts appropri...

AI Analysis

The Central Bank of Ireland (CBI) has announced a targeted amendment exempting certain principal home bridging loans from the Loan-to-Income (LTI) limit while retaining the Loan-to-Value (LTV) limit and all other mortgage measures unchanged, recognizing bridging finance as a growing market feature repaid via property sale proceeds rather than income. This matters for compliance professionals as it enables lenders to offer these short-term products (max 18 months) without LTI constraints, but requires reinforced underwriting, consumer protection, and ongoing CBI monitoring to maintain lending standards.

What Changed

- Exemption from LTI limit: Principal home bridging loans—defined as short-term loans (maximum 18 months) enabling homeowners to buy a new principal home before selling their current property, repaid...
LTV limit retained: Maximum 90% LTV continues to apply to these loans, alongside the 15% flexibility allowance for first-time/second/subsequent buyer lending.
No other changes: All remaining mortgage measures, including consumer protection rules and lenders' prudent underwriting obligations, stay intact.
Monitoring commitment: CBI will track the exemption's operation within its regular mortgage measures assessments for unintended risks.

Suggested Considerations

Update lending policies: Identify and classify principal home bridging loans (max 18 months, repayment from property sale, no capital repayments required during term) to apply LTI exemption but enforce 90% LTV.
Enhance underwriting: Conduct individual suitability and affordability assessments beyond macroprudential limits; do not rely solely on exemption.
Strengthen consumer protections: Fully inform borrowers of risks (e.g., sale delays, interest costs); ensure products suit circumstances per consumer protection rules.
Internal monitoring and reporting: Track bridging loan volumes within flexibility allowances; prepare for CBI inquiries as part of ongoing assessments.
Staff training and systems updates: Revise origination, disclosure, and compliance systems promptly to operationalize changes.

Key Dates

08 April 2026

Announcement and effective date; CBI press release details the amendment, with immediate application implied for qualifying bridging loans (no explicit phase-in mentioned)

Compliance Impact

Urgency: High – Effective immediately on announcement (08 April 2026), this enables new lending opportunities in a evolving market but demands swift policy tweaks, training, and risk controls to avoid consumer protection breaches or excessive risk-taking, with CBI monitoring for emerging issues. Non-compliance risks supervisory scrutiny, as measures reinforce macroprudential goals amid housing market pressures.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Consumer Protection / Conduct

Topics:

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

April 8th 2026

ASIC ramps-up action to protect consumers from AI-powered online investment scams

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Operational Resilience / Outsourcing

BankFintechWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

April 8th 2026

ASIC bans former ISG Financial Services Limited director Benjamin Godfrey for 10 years

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

BankWealth ManagerAll Firms

Investment Management Wealth & Private Banking Banking & Credit

🇸🇬 MAS News low

April 8th 2026

Written reply to Parliamentary Question on Variable Capital Companies (VCCs)

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Consumer Credit Mortgage & Lending

🇸🇬 MAS News medium

April 8th 2026

Written reply to Parliamentary Question on Household Liabilities and Household Assets

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Reporting & Disclosure

BankFintech

🇸🇬 MAS News medium

April 8th 2026

Written reply to Parliamentary Question on impact of rising interest rates and mortgage repayments for homebuyers

Sectors:

Consumer Protection / Conduct Prudential / Capital Requirements

Topics:

Bank

Banking & Credit Payments & E-Money Consumer Credit

🇸🇬 MAS News medium

April 8th 2026

Oral reply to Parliamentary Questions on safeguards for GIRO transactions

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

BankFintechPayment Provider

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

🇸🇬 MAS News medium

April 8th 2026

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.

AI Analysis

This FINMA publication announces updates to the Swiss Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), specifically the removal of 7 natural persons from Annex 8 on March 19, 2026, effective March 20, 2026, 23:00 UTC. It matters for Swiss financial firms as it requires immediate review of sanctions screening processes to lift any prior asset freezes on these delisted individuals while maintaining vigilance against ongoing Ukraine/Russia sanctions risks, ensuring compliance with SECO and FINMA expectations.

What Changed

- Amendment to Annex 8 of SR 946.231.176.72 by the Federal Department for Economic Affairs, Education and Research (WBF) on March 19, 2026, removing 7 natural persons from the sanctions list.
Update to the official Swiss sanctions database SESAM (SECO Sanctions Management), published urgently on SECO's website.
This delisting narrows the scope of asset freeze obligations under the ordinance, but core prohibitions on transactions, asset blocking, and reporting for remaining listed parties persist.

Suggested Considerations

Screen client databases and transaction records against the updated SESAM database to identify and release any asset freezes or restrictions on the 7 delisted persons, confirming no residual sanctions apply.
Report any affected business relationships to SECO as per ordinance requirements; conduct additional due diligence under Art. 6 GwG if suspicions remain, and file SARs with the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG if unresolved.
Update internal sanctions screening tools, policies, and staff training to reflect the SESAM changes; document all reviews for audit trails.
Monitor FINMA's news and MyFINMA for further updates, as lists are continuously revised.

Key Dates

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Wealth & Private Banking

🇸🇬 MAS News medium

April 7th 2026

Securities Industry Council (“SIC” or the "Council") Public Statement on PSC Corporation Ltd.

Public statement by the SIC on PSC Corporation Ltd.

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News medium

April 7th 2026

Written reply to Parliamentary Question on pre-emptive adjustments to monetary policy to curb energy cost-driven inflation

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Payments & E-Money Consumer Credit

🇸🇬 MAS News medium

April 7th 2026

Written reply to Parliamentary Question on timeline for making cash acceptance mandatory

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Authorisation & Licensing

BankFintechPayment Provider

Investment Management Banking & Credit Wealth & Private Banking

🇦🇪 ADGM News high

April 6th 2026

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Technology & Cyber

Asset ManagerBankWealth Manager

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 FCA News medium

April 2nd 2026

FCA and Bank seek members for their Transaction and Post-trade Reporting Taskforce

The FCA and Bank of England (Bank) invite expressions of interest from market participants to join a new taskforce. The purpose of this taskforce is to inform the design of our long-term approach to harmonising transaction and post-trade reporting requirements.The taskforce will be comprised of three separate working groups: a main Policy group, supported by a Strategy group and an Architecture group. The working groups will have the following individual objectives: Policy group:Identifying a...

Sectors:

Topics:

Reporting & Disclosure Technology & Cyber Authorisation & Licensing

BankBroker DealerFintech

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇬🇧 BoE News

April 2nd 2026

Minutes: CBDC Academic Advisory Group - January 2026

Meeting of the CBDC Academic Advisory Group

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Consumer Protection / Conduct

BankFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 BoE News medium

April 2nd 2026

Minutes of the Money Market Committee meeting – March 2026

The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankBroker DealerFintech

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇮🇪 CBI News high

April 2nd 2026

Future-proofing Europe’s financial system

In his latest blog, Governor Gabriel Makhlouf argues that central banks must modernise their digital infrastructure and regulatory frameworks to ensure that central bank money remains the stable foundation of Europe's financial system whilst enabling private sector innovation in a digitally transformed ecosystem.

Sectors:

Topics:

Technology & Cyber Prudential / Capital Requirements Consumer Protection / Conduct

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

April 2nd 2026

BaFin warns consumers about the website brokereins(.)com

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website brokereins(.)com. BaFin has information that the operators are offering banking business and/or financial services on this website without the required authorisation. The operators are not supervised by BaFin.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News low

April 2nd 2026

Changes to publication dates of the Decision Maker Panel data and Agents’ summary of business conditions

We are changing the publication dates of the Decision Maker Panel and Agents’ summary of business conditions so that they no longer fall on the same day as publication of the Monetary Policy Report

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

🇩🇪 BaFin News high

April 2nd 2026

crss(.)finance: BaFin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website crss(.)finance. According to information available to BaFin, the operators are offering financial and cryptoasset services on the website without the required authorisation. The unknown operators of the website claim to be a British company called “Ceres Finance Limited”. It is not supervised by BaFin. This is a case of identity fraud. BaFin has no information regarding the British co...

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

BankFintechCrypto Exchange

🇦🇺 ASIC News high

April 2nd 2026

Consultation paper 6/26

AI Analysis

CP6/26 from the PRA consults on reforms to the **high loan-to-income (LTI)** lending rules for residential mortgages, building on prior adjustments to the flow limit that caps high-LTI loans (≥4.5x borrower income) at 15% of total new lending for larger lenders. This matters for mortgage providers as it aims to balance financial stability, support housing market growth, and adapt macroprudential measures to current economic conditions, potentially influencing lending capacity and risk management ahead of the June 2026 review deadline (https://www.bankofengland.co.uk/prudential-regulation/publication/2026/april/high-loan-to-income-lending-consultation-paper).

What Changed

- Review of LTI flow limit: PRA is reviewing the rule limiting new residential mortgages with LTI ≥4.5x to 15% of total new lending, following FPC recommendations; no final changes proposed yet, but...
Threshold increase (prior update): Flow limit now triggers only for firms issuing ≥£150M in residential mortgages annually (up from £100M), effective 11 July 2025, exempting ~80 smaller lenders (up...
Interim modification by consent: Firms can apply to disapply the 15% cap temporarily; requires submitting business plans, risk frameworks, and monthly reporting on high-LTI volumes.
Exclusions remain: No LTI limit for re-mortgages (no principal change), lifetime mortgages, or second/subsequent charge mortgages (per historical rules).
Group allocations: Firms in groups can share high-LTI allowances, with record-keeping required.

Suggested Considerations

Apply for modification (if seeking >15% high-LTI): Submit detailed business plan (incl. quarterly high-LTI projections), risk appetite, management frameworks; provide monthly notifications on approvals/completions.
Monitor thresholds: Track rolling 4-quarter mortgage volumes/contracts (≥£150M and ≥300 contracts in two periods triggers limit).
Record-keeping: Document high-LTI allowances, group allocations, exclusions.
Respond to consultation: Provide feedback on CP6/26 proposals via PRA channels (deadline not specified in summary; check full paper).
Engage regulators: FCA firms contact FCA for tailored guidance on high-LTI increases.

Key Dates

9 July 2025 DEADLINE

PRA offers interim modification by consent applications; firms must submit business plan/risk info within 1 month, then monthly reports (first covering prior 3 months)

11 July 2025

£150M threshold increase effective

TBD 2026 DEADLINE

PRA consultation on permanent LTI flow limit changes (due course post-review)

30 June 2026

Interim modifications expire (or earlier if rules amended)

Compliance Impact

Urgency: High – Firms near £150M threshold or planning high-LTI growth must act imminently on modifications (monthly reporting starts soon) to avoid breaches before June 2026 expiry; non-compliance risks enforcement, while opportunities for smaller lenders enhance competitiveness amid housing market pressures (https://www.bankofengland.co.uk/prudential-regulation/publication/2026/april/high-loan-to-income-lending-consultation-paper).

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Consumer Protection / Conduct Prudential / Capital Requirements

Topics:

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News medium

April 1st 2026

PRA Regulatory Digest – March 2026

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

🇱🇺 CSSF News medium

April 1st 2026

CSSF Regulation No 26-01 of 31 March 2026 (only in French)

on the setting of the countercyclical buffer rate for the second quarter of 2026

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

April 1st 2026

Three public companies fined more than a million dollars for breaching financial reporting and company officer obligations

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

April 1st 2026

Number of UCIs

Situation as at 28 February 2026

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Insurance & Pensions Investment Management

🇦🇪 ADGM News

April 1st 2026

Policy statement 8/26

AI Analysis

The PRA has finalized the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) for 2026/27 at £113 million, effective April 1, 2026. This policy statement confirms the proposed budget following consultation, establishing the maximum amount that FSCS-levy-paying firms must fund for the compensation scheme's operating costs, with implications for all PRA and FCA-authorized firms across banking, insurance, and investment sectors.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

BankInsuranceAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech

March 31st 2026

Opening Remarks by Governor Gabriel Makhlouf for the Savings and Investment Forum

Good morning and welcome to Central Bank of Ireland. Thank you for joining us for this inaugural gathering of the Savings and Investment Forum. I want to extend a particular welcome to the Tánaiste. Today marks an important milestone. The Department of Finance's 2024 Funds Review recognised the importance of enabling more retail investment in Ireland. It recommended establishing this Forum to address that challenge and today provides a timely opportunity to do so. Let me place this initiative...

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

Consumer Credit Banking & Credit Mortgage & Lending

🇬🇧 FCA policy_statement critical

March 30th 2026

FCA confirms motor finance redress scheme

We are going ahead with a scheme to compensate motor finance customers who were treated unfairly. Courts have found that firms broke the law by failing to disclose important information to customers. An industry-wide scheme is the quickest and most cost effective way to deliver fair compensation.We had over 1,000 consultation responses and engaged extensively with consumer groups, professional representatives, firms, manufacturers, investors and industry bodies. While most respondents support...

AI Analysis

The FCA has confirmed an industry-wide redress scheme to compensate motor finance customers for unfair treatment due to inadequate disclosure of commissions and ties between 6 April 2007 and 1 November 2024, following court rulings on law-breaking practices. This matters as it imposes up to £9.1 billion in costs on lenders, mandates proactive customer identification and payouts, and aims for rapid resolution while providing finality for firms and market stability.

What Changed

- Tightened eligibility: Excludes minimal commission agreements (£120 or less pre-1 April 2014; £150 or less post), zero APRs, unused DCAs, and contractual ties where lenders prove visible...
Two schemes: Separate for 6 April 2007-31 March 2014 and 1 April 2014-1 November 2024 to mitigate legal challenges on pre-2014 powers.
Compensation adjustments: Reflects higher 2007-2014 losses; capped in ~1/3 cases to avoid over-compensation.
Streamlined operations: Lenders contact only complainants or eligible non-complainants; no recorded delivery required, cutting delivery costs >40%.
Scope expansion: Covers DCAs, high commissions, and contractual ties under Consumer Credit Act 1974 ss.140A-C; includes deceased consumers.

Suggested Considerations

Identify all in-scope agreements (2007-2024 with broker commissions); assess eligibility against tightened criteria (e.g., undisclosed DCA/high commission/tie).
Contact complainants within 3 months post-implementation; eligible non-complainants within 6 months; invite scheme participation (6-month consumer response window).
Calculate redress per formula (commission-based, capped, with interest); pay promptly, allowing set-off against customer debts where applicable.
Gather records now (FCA expectation pre-rules); handle exclusions/exceptions with explanations; prepare for FOS challenges on time-bars.
Brokers: Respond to lender information requests.

Key Dates

6 April 2007

1 November 2024; Scope of agreements eligible for compensation

26 March 2020 DEADLINE

Cut-off for excluding high commission cases if clearly disclosed (firms must explain and allow FOS challenge)

2026 (this year)

Millions compensated

30 June 2026

End of implementation for 1 April 2014+ loans; lenders then have 3 months to notify complainants of redress

31 August 2026

End of implementation for 6 April 2007-31 March 2014 loans; lenders then have 3 months to notify complainants and 6 months for eligible non-complainants

Compliance Impact

Urgency: Critical – Firms face immediate preparation needs (e.g., data gathering) ahead of mid-2026 implementation, with £9.1bn costs, mass customer outreach, and legal risks from dual schemes/challenges. Non-compliance risks enforcement, as FCA expects prompt action for market finality; delays could exceed £6bn in alternative complaint/court costs.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

BankFintechAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇦🇪 ADGM News

March 30th 2026

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Technology & Cyber

BankCrypto ExchangeFintech

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News medium

March 30th 2026

Superintendent Peter Routledge participates in a fireside chat at Bank of America Expert Insights Series

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB Enforcement critical

March 27th 2026

ECB sanctions BofA Securities Europe SA for breaching reporting requirements

No description available.

AI Analysis

The ECB imposed a €6.2 million penalty on BofA Securities Europe SA for intentionally breaching market risk reporting requirements between 2022 and 2024. The bank systematically underreported risk-weighted assets by including unauthorized sovereign bond option positions in its internal models, resulting in inflated capital ratios and misrepresented financial strength—a "severe" breach that signals the ECB's heightened enforcement focus on reporting accuracy and internal control governance.

What Changed

This enforcement action does not introduce new regulatory requirements but rather clarifies existing obligations:
Internal Models Scope Limitation: Banks must strictly adhere to supervisory permissions when applying internal models approaches; unauthorized asset classes cannot be included regardless of...
Risk-Weighted Asset Accuracy: RWA calculations must reflect actual supervisory permissions, not theoretical modeling capabilities
Capital Ratio Integrity: Misreporting of RWAs directly affects CET1 ratios and capital adequacy disclosures, which are fundamental to regulatory reporting
Intentionality Standard: The ECB's classification of this breach as "intentional" (rather than negligent) indicates that awareness of supervisory limitations combined with non-compliance triggers...

Suggested Considerations

*Immediate (for all firms with internal models):
*Audit Internal Models Scope: Conduct comprehensive review of all asset classes currently included in internal models approaches to confirm supervisory permission exists for each category
*Verify Sovereign Bond Derivatives Treatment: Specifically validate that all sovereign bond options, forwards, and other derivatives are explicitly covered by supervisory approval documentation
*Reconcile RWA Calculations: Recalculate historical RWAs (at minimum for the past 3-5 years) to identify any unauthorized inclusions and assess whether prior reporting was accurate
*Strengthen Internal Controls: Implement automated controls to prevent unauthorized asset classes from being included in model calculations, with documented supervisory permission matrices

Key Dates

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

March 27th 2026

BaFin warns consumers about the websites renvio(.)icu and renvio(.)pro

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the websites renvio(.)icu and renvio(.)pro. BaFin has information that these websites are being used to offer financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News medium

March 27th 2026

Update to Discount Window Facility pricing – Market Notice 27 March 2026

The Bank is today announcing a simplification and reduction in the Discount Window Facility (DWF) pricing, as part of its previously announced review of the DWF.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankWealth ManagerAsset Manager

Investment Management Wealth & Private Banking Banking & Credit

🇦🇺 ASIC News high

March 27th 2026

ASIC applies to wind up 12 companies associated with NSW accountant and former solicitor Christopher Malcolm Edwards

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Prudential / Capital Requirements

Asset ManagerWealth ManagerBank

Banking & Credit Capital Markets & Trading Investment Management

🇩🇪 BaFin Enforcement high

March 27th 2026

Barclays PLC: BaFin imposes administrative fine

On 10 March 2026, BaFin imposed an administrative fine amounting to €1,650,000 on Barclays PLC. The reason for this fine was a breach of supervisory duties in connection with contraventions of the German Securities Trading Act (Wertpapierhandelsgesetz - WpHG). Between June 2022 and March 2023, Barclays PLC failed in 26 cases to submit voting rights notifications regarding a single issuer within the prescribed period.

AI Analysis

BaFin imposed a €1.65 million administrative fine on Barclays PLC on March 10, 2026, for failing to submit 26 voting rights notifications within the required four-trading-day deadline between June 2022 and March 2023. This enforcement action demonstrates BaFin's commitment to enforcing transparency requirements under the German Securities Trading Act (WpHG) and highlights the critical importance of robust internal controls for voting rights notification compliance.

What Changed

The enforcement action does not introduce new regulatory requirements but rather clarifies BaFin's enforcement posture regarding existing obligations under sections 33 et seq. of the WpHG.
Notification thresholds: Shareholders must notify when voting rights reach, exceed, or fall below 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50%, or 75%
Notification timeline: Notifications must be submitted to both the issuer and BaFin within four trading days of the threshold event
Scope expansion: Notifications apply to direct share holdings and certain financial instruments creating economic interest in shares
Enforcement basis: BaFin can impose fines for individual contraventions or for breach of supervisory duties (failure to implement adequate organizational measures)

Suggested Considerations

*Audit existing processes: Conduct a comprehensive review of voting rights notification procedures, particularly for German-listed issuers, to identify any gaps or delays in submission timelines
*Strengthen monitoring systems: Implement automated systems to track threshold events in real-time and flag notifications due within the four-trading-day window
*Enhance organizational controls: Establish clear internal procedures, segregation of duties, and escalation protocols to prevent notification delays—BaFin specifically cited inadequate organizational measures in this case
*Verify submission records: Maintain comprehensive documentation of all notifications submitted to BaFin and issuers, including timestamps and confirmation of receipt
*Train relevant personnel: Ensure trading, portfolio management, and compliance teams understand the notification obligations and their respective responsibilities

Key Dates

June 2022 – March 2023

Period during which Barclays failed to submit 26 notifications

March 10, 2026

Date BaFin imposed the €1.65 million fine

March 27, 2026

Publication date of BaFin enforcement announcement

Four trading days

Maximum period to submit notifications after threshold event occurs

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original BaFin source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Market Abuse / Surveillance

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News medium

March 27th 2026

Singapore Sets out Key Focus Areas to Develop Singapore as a Gold Trading Centre

MAS and the Singapore Bullion Market Association (SBMA) set out key focus areas to strengthen Singapore’s position as a trusted gold trading centre serving the Asia-Pacific region. This will meet the growing interest among investors to vault and trade gold in Singapore. The key focus areas were developed by a Gold Market Development Working Group that MAS and SBMA established in January 2026, building on detailed discussions and studies with industry participants in 2025.

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Market Abuse / Surveillance

BankWealth ManagerFamily Office

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

March 26th 2026

Stopping for gas − speech by Alan Taylor

Given at the Exante Data 10 Year Anniversary Conference, New York

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerFintech

🇸🇦 SAMA News high

March 26th 2026

SAMA Commences Licensing of Fintech Companies to Provide Open Banking Services

Sectors:

Authorisation & Licensing Technology & Cyber

Topics:

FintechBankPayment Provider

🇸🇦 SAMA News medium

March 26th 2026

SAMA Licenses “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to Provide Open Banking Services

Sectors:

Authorisation & Licensing Technology & Cyber

Topics:

FintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇯🇵 JFSA News low

March 26th 2026

International,Hosting Overseas Regulatory Officials at the Global Financial Partnership Center (28th Program: 12 Banking Regulatory Authorities)

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankAsset ManagerWealth Manager

Authorisation & Licensing Consumer Protection / Conduct

🇱🇺 CSSF Guidance high

March 26th 2026

Circular CSSF-CPDI 26/50

Survey on the amount of covered deposits held on 31 March 2026

AI Analysis

Circular CSSF-CPDI 26/50 mandates a recurring annual survey on the amount of **covered deposits** held as of **31 March 2026** by specified Luxembourg credit institutions, to support the Fonds de garantie des dépôts Luxembourg (FGDL) in meeting Deposit Guarantee Scheme (DGS) requirements under the 2015 Law and DGSD. This matters for compliance as it ensures institutions contribute accurately to the FGDL's buffer (targeting 2% of covered deposits by 2026), with data also feeding into Single Resolution Board (SRB) calculations for resolution funding.

What Changed

This circular introduces no substantive changes to survey content, methodology, or reporting specifications compared to prior issuances (e.g., CSSF-CPDI 25/49 for 31 December 2025). Updates are limited to the reference date (31 March 2026) and associated deadlines, maintaining the risk-based ex-ante contribution method from Circular CSSF-CPDI 20/21 and quarterly reporting under CSSF-CPDI 17/07.

Suggested Considerations

Compile data on covered deposits (eligible deposits up to €100,000 per depositor, per Article 163 of 2015 Law), excluding items per Article 172 (e.g., financial institutions, life insurance).
Report detailed breakdowns: total eligible/covered deposits, omnibus/fiduciary accounts (with beneficiary counts), natural vs. legal persons, branch-level data.
Submit via specified format (per attached specs, unchanged from priors) to CPDI by deadline; quarterly data ongoing per CSSF-CPDI 17/07.
Ensure alignment with FGDL contributions under CSSF-CPDI 25/48.

Key Dates

Bank

🇮🇪 CBI Warning high

March 26th 2026

Supervisory Statement 9/17

AI Analysis

**SS9/17 - Recovery Planning** is the PRA's supervisory statement establishing expectations for how UK banks, building societies, and designated investment firms must prepare and maintain recovery plans to ensure financial stability during periods of stress. This guidance supersedes the previous SS18/13 and represents a substantial tightening of recovery planning requirements, making credible, testable, and executable recovery plans a core component of prudential regulation rather than a compliance checkbox.

What Changed

SS9/17 introduced several material enhancements to recovery planning requirements: Governance and Integration: Recovery planning must be embedded within firms' risk management frameworks, with board-level oversight and integration with stress testing and ICAAP processes. The PRA expects clear governance documentation showing how plans are produced, reviewed, signed off, and implemented. Fire Drill Exercises: Firms must conduct regular fire drill exercises that simulate recovery scenarios in a live environment, testing governance arrangements, management information systems, and the...

Suggested Considerations

*Develop comprehensive recovery plans containing all minimum elements specified in the Recovery Planning Part of the PRA Rulebook and detailed in SS9/17
*Establish governance frameworks documenting how recovery plans are produced, reviewed, approved by the board, and how recovery options would be implemented
*Conduct fire drill exercises that simulate recovery scenarios, test governance arrangements, and validate management information capabilities
*Create implementation playbooks (for complex plans) that enable rapid execution by senior management during stress
*Perform detailed impact analysis for each recovery option, quantifying capital and liquidity impacts with realistic timelines

Key Dates

Second half of 2017

- Proposed implementation date for superseding SS18/13 (achieved with December 2017 publication)

21 September 2017 DEADLINE

- PRA consultation deadline for CP9/17 (the consultation paper preceding this statement)

11 December 2017

- SS9/17 first published and became effective

Ongoing DEADLINE

- Firms must maintain and test recovery plans continuously; the PRA notes this statement "may be revised as recovery planning becomes further embedded in firms' risk management practices"

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

Topics:

BankAll Firms

🇬🇧 PRA policy_statement high

March 26th 2026

PS10/26 – Amendments to Resolution Assessment threshold and Recovery Plans review frequency

Policy statement 10/26

AI Analysis

PS10/26 finalizes PRA proposals to raise the Resolution Assessment threshold from £50 billion to £100 billion in retail deposits and reduce recovery plan review frequency for Small Domestic Deposit Takers (SDDTs) from annually to biennially, enhancing proportionality in resolution and recovery frameworks post-financial crisis. These changes reduce regulatory burden on smaller firms while maintaining safety and soundness, directly supporting PRA objectives of competitiveness and growth. Compliance teams must assess scope changes immediately to align reporting and planning cycles.

What Changed

- Resolution Assessment Threshold: Increased from £50 billion to £100 billion in retail deposits, limiting reporting and disclosure requirements under the Resolution Assessment Part of the PRA...
Recovery Plans Review Frequency: For SDDTs and SDDT consolidation entities, reduced from at least annually to at least every two years, aiming for higher quality plans with less frequent reviews.
Rulebook and Guidance Updates: Amendments to Resolution Assessment Part (Appendix 2), Recovery Plans Part (Appendix 3), and Supervisory Statement SS9/17 – Recovery planning (Appendix 4); no...
PRA Review Commitment: Threshold will be reviewed periodically (e.g., after reporting cycles or significant changes), but not indexed to GDP or on a fixed schedule as some respondents suggested.

Suggested Considerations

Scope Assessment: Immediately review retail deposits as of 1 April 2026; firms newly in-scope (≥£100bn) await PRA communication on first report/disclosure dates and prepare accordingly.
Recovery Plans: SDDTs/SDDT groups update review cycles to biennial starting 1 April 2026; ensure plans meet SS9/17 standards for quality.
Reporting/Disclosure: In-scope firms align internal processes with Rulebook amendments (Appendices 2-4); test systems for new threshold.
Governance: Document compliance with updated frameworks; monitor for PRA threshold reviews and related PS9/26/PS11/26 implementations.
Monitoring: Track retail deposits quarterly to anticipate scope changes; engage PRA if nearing threshold.

Key Dates

1 April 2026

Effective date for PS10/26 changes, including new £100bn threshold and biennial recovery plan reviews for SDDTs

2 October 2026

Expected submission date for first Resolution Assessment reports for in-scope firms (as previously communicated by PRA)

11 June 2027

Expected publication date for first disclosures under amended threshold

Compliance Impact

Urgency: High – Effective 1 April 2026 (imminent from March 2026), with first reports due 2 October 2026; firms between £50-100bn retail deposits gain immediate burden relief (exiting scope), while largest firms face no new burdens but must confirm ongoing compliance. Matters due to proportionality aligning with PRA growth objectives, reducing costs for mid-tier banks/building societies amid economic pressures, but requires swift deposit recalibration to avoid inadvertent non-compliance.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 PRA policy_statement high

March 26th 2026

PS11/26 – Disclosure: resolvability resources, capital distribution constraints and the basis for firm Pillar 3 disclosure

Policy statement 11/26

AI Analysis

PS11/26 finalizes PRA rules enhancing Pillar 3 disclosures on resolvability resources (MREL), capital distribution constraints (CDCs), and disclosure basis for UK banks and building societies. It matters because it standardizes information to boost market discipline, user comparability, and confidence in orderly resolution, directly impacting financial stability and compliance reporting. No substantive changes from CP16/25 consultation, with minor clarifications only.

What Changed

- Standardized MREL disclosure templates: Replaces free-form disclosures with four new templates aligned to Basel BCBS TLAC formats (adapted for UK), expanding scope to more firms for consistency on...
Qualitative CDC narrative: Added to UK CC1 template for firms subject to CDCs, enabling market assessment of restriction impacts; removes obsolete Systemic Risk Buffer (SRB) disclosure post-O-SII...
Disclosure basis statement: Firms must specify their Pillar 3 regime (e.g., resolution entity, O-SII, large institution), frequency, and details like reference date, currency, LEI, accounting...
Minor amendments: Reflects HMT's revocation of CRR Article 92a; updates to Disclosure (CRR) and Reporting (CRR) Parts of PRA Rulebook, with semi-annual key metrics for certain firms.
No substantive policy changes post-consultation; costs/benefits assessment unchanged.

Suggested Considerations

Update Pillar 3 processes to use new MREL templates (Annex XXVII instructions), UK CC1 with CDC narrative, and basis statement (e.g., reference date, LEI, scope).
For CDC-subject firms: Prepare qualitative narrative on restriction impacts.
Ensure semi-annual disclosure of key metrics (Article 447 points a-g) where required.
Integrate into consolidated reporting for UK parents; test templates/instructions from appendices.
Review for alignment with broader CRR changes (e.g., Article 92a revocation).

Key Dates

17 March 2026

- PS11/26 and accompanying rule instruments (e.g., Disclosure (CRR) Instrument 2026) published

1 January 2027

- Policy effective date; rules apply from this date

H1 2027

- First disclosures under new policy published, covering period ending **31 December 2026** (annual/semi-annual as applicable)

Compliance Impact

Urgency: High – Effective 1 January 2027 requires immediate template/system updates for H1 2027 disclosures (year-end 2026 data), with standardized formats limiting flexibility and raising non-compliance risks to market discipline objectives. Impacts reporting teams, resolution planning, and investor relations; proportional design minimizes burden but demands proactive gap analysis given no transition grace beyond effective date.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankBroker DealerAll Firms

🇬🇧 PRA policy_statement medium

March 26th 2026

PS9/26 – Resolution planning: Amendments to MREL reporting templates

Policy statement 9/26

AI Analysis

PS9/26 finalizes targeted amendments to MREL reporting templates, including changes to MRL001 and MRL003 data elements and the deletion of MRL002, reducing reporting burdens while maintaining resolution planning oversight. This matters for compliance teams as it streamlines processes under the PRA's Future Banking Data programme, with implementation from 1 January 2027, enabling firms to reallocate resources efficiently.

What Changed

- Amendments to data elements in the MREL resources template (MRL001) and MREL debt template (MRL003), with full deletion of the MREL resources forecast template (MRL002).
Consequential updates to reporting instructions (Appendix 2) and Supervisory Statement SS19/13 (Appendix 3), including relocation of instrument scope descriptions to reporting instructions for...
No changes to quarterly reporting frequency for MRL001/MRL003, despite industry requests for semi-annual alignment, to ensure monitoring of loss-absorbing capacity.
PRA to publish updated reporting taxonomy shortly.

Suggested Considerations

Review and update internal reporting systems to incorporate revised MRL001/MRL003 templates and deleted MRL002 by 1 January 2027.
Implement updated reporting instructions and SS19/13 amendments, including clarified scope of instruments in MRL templates.
Prepare for Q4 2026 data submission in February 2027 using new taxonomy (to be published shortly by PRA).
For firms with deleted COREP13 templates, cease submissions from April 2026 cycle.
Conduct gap analysis against SS19/13 changes and test processes for quarterly MREL reporting continuity.

Key Dates

1 April 2026

- Partial revocation of UKTS 2018/1624 (COREP13), deleting certain templates ahead of April 2026 cycle for period ending 31 December 2025

1 April 2026 DEADLINE

- PS10/26 effective (related: Resolution Assessment threshold amendments, reports due 2 October 2026)

1 January 2027 DEADLINE

- Revised MRL001 and MRL003 templates effective; first submissions of 2026 Q4 data (ending 31 December 2026) due in **February 2027**

1 January 2027

- PS11/26 effective (related: disclosures from 2027 H1 for period ending 31 December 2026)

Compliance Impact

Urgency: Medium – Changes reduce burden (net simplification, ~25% per industry feedback) but require system updates before 1 January 2027 submissions; non-compliance risks resolution planning scrutiny, though lead time mitigates immediate pressure. Matters for maintaining accurate MREL monitoring amid PRA's FBD efficiency drive.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇪🇺 ECB News medium

March 26th 2026

Pedro Machado: From vision to reality: turning the savings and investments union into Europe’s financial cornerstone

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Technology & Cyber

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News high

March 26th 2026

Quarterly Bulletin No.1 2026: Renewed surge in international energy prices tests domestic economic resilience

Renewed surge in international energy prices tests domestic economic resilience Higher oil and gas prices are expected to lead to lower growth and higher inflation than previously expected. The extent is dependent on the duration of the conflict and the scale of damage to critical infrastructure in the Middle East. MDD is forecast to grow by 2.8 per cent per annum on average from 2026 to 2028 in the baseline forecast, with inflation averaging 2.5 per cent per annum over that period. More seve...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News

March 26th 2026

Superintendent Routledge to participate in virtual fireside chat at Bank of America Expert Insights Series on March 30, 2026

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Mortgage & Lending Banking & Credit Consumer Credit

🇱🇺 CSSF Guidance medium

March 25th 2026

Circular CSSF 26/908

Amendment of Circular CSSF 18/703 on the introduction of a semi-annual reporting of borrower related residential real estate indicators

AI Analysis

Circular CSSF 26/908 amends Circular CSSF 18/703 to update semi-annual reporting requirements for borrower-related residential real estate indicators, enhancing supervisory oversight of credit risk in Luxembourg's financial sector. Published today (25 March 2026), it matters for credit institutions as it refines data collection to better monitor real estate lending exposures amid potential market vulnerabilities.

What Changed

The circular introduces amendments to the original Circular CSSF 18/703 (itself amended by Circulars CSSF 20/737 and 21/772), focusing on semi-annual reporting of indicators tied to borrowers in residential real estate. Specific changes are not detailed in the provided summary or full content excerpt, but they likely involve refinements to reporting templates, data granularity, or submission processes to align with evolving EU prudential standards on real estate risk monitoring. The updated consolidated version of Circular CSSF 18/703 is now available as a 258.91Kb PDF.

Suggested Considerations

Download and review the full Circular CSSF 26/908 (291.96Kb PDF) and the updated consolidated Circular CSSF 18/703 (258.91Kb PDF) from the CSSF website: https://www.cssf.lu/en/Document/circular-cssf-26-908/.
Conduct a gap analysis of current reporting processes against the amended requirements for borrower-related residential real estate indicators.
Update internal systems, data collection templates, and reporting workflows to ensure accurate semi-annual submissions to the CSSF.
Train relevant compliance, risk, and finance teams on changes; document compliance confirmations for audit trails.

Key Dates

What Changed

The most recent update (March 9, 2026) to the Technical FAQ reflects the regulatory framework established by CSSF Regulation No 20-08 (as modified by Regulation No 24-10).
First-time buyers: LTV limit of up to 100%
Other buyers: LTV limit of 90%, implemented via portfolio allowance Buy-to-Let Residential Loans:
Standard LTV limit of 80%
Temporary exemption (until June 30, 2025): Lenders may apply LTV ratios up to 95% for up to 10% of annual production Other Residential Real Estate Loans:

Suggested Considerations

*For all lenders:
*Verify LTV compliance calculations for all new residential mortgage originations using the framework specified in the FAQ, ensuring own funds are calculated as actual equity contributions from borrowers
*Implement dual LTV tracking for borrowers financing new property through sale of existing property, ensuring compliance with both interim and final LTV ratios
*Document own funds sources carefully, particularly when cash collateral or sale proceeds are used, as these are only permitted for loans with initial LTV below 100%
*Prepare for June 30, 2025 transition by:

Key Dates

December 3, 2020

- CSSF Regulation No 20-08 originally published

January 1, 2021

- Regulation and LTV limits became effective for residential real estate credit on Luxembourg territory

May 21, 2024

- CSSF Regulation No 24-04 introduced temporary adjustments to LTV limits

December 30, 2024

- CSSF Regulation No 24-10 extended temporary adjustments

January 7, 2025

- Most recent Technical FAQ version published (prior to March 9, 2026 update)

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Reporting & Disclosure

BankFintech

🇱🇺 CSSF Guidance high

March 25th 2026

Circular CSSF 18/703 (as amended by Circulars CSSF 20/737, 21/772 and 26/908) (Updated)

on the introduction of a semi-annual reporting of borrower-related residential real estate indicators

AI Analysis

Circular CSSF 18/703 introduces semi-annual reporting requirements for Luxembourg-based lenders on borrower-related residential real estate (RRE) indicators to monitor macroprudential risks in the RRE lending market, in line with ESRB Recommendation 2016/14 (as amended). It matters for compliance because it mandates data collection via a dedicated CSSF template, with exclusions only for banks below EUR 10 million in outstanding RRE exposures, ensuring supervisory oversight of lending standards. The circular has been iteratively amended (CSSF 20/737, 21/772, 26/908), with the latest update on 25 March 2026 refining reporting processes.

What Changed

- Original Scope (CSSF 18/703, 17 Dec 2018): Requires semi-annual reporting of RRE indicators for loans secured by Luxembourg residential real estate (existing dwellings, under construction,...
Amendment CSSF 20/737 (19 Feb 2020): Clarified reporting thresholds and processes; banks with total outstanding RRE exposure ≤ EUR 10 million are exempt from reporting (no zero report needed if no...
FAQ (19 Feb 2020): Specifies reporting for new exposures (Jan-Jun or Jul-Dec) and outstanding exposures as of 30 June/31 Dec; exemption applies only if exposure < EUR 10 million.
Amendment CSSF 21/772 (10 May 2021): Further refinements to data template and indicators.
Amendment CSSF 26/908 (25 Mar 2026): Latest update to reporting template and processes, effective immediately given publication date. Data is collected via a CSSF template on the website, focusing on...

Suggested Considerations

Download and use the dedicated RRE data template from the CSSF website (https://www.cssf.lu/en/Document/circular-cssf-18-703/).
Assess total outstanding RRE exposure; if > EUR 10 million, collect data on new/outstanding exposures per reference dates (30 Jun/31 Dec).
Ensure IT systems store/process RRE indicators (e.g., borrower debt metrics, collateral details) for semi-annual extraction.
Submit reports to CSSF in April/October; review amendments (20/737, 21/772, 26/908) and FAQ for updates.
For exempt banks: Confirm eligibility annually; no zero report required.

Key Dates

17 Dec 2018

Original Circular CSSF 18/703 published; reporting obligation introduced

19 Feb 2020

Circular CSSF 20/737 and FAQ published; clarified exemptions and scope

10 May 2021

Circular CSSF 21/772 amendment published

25 Mar 2026

Circular CSSF 26/908 amendment published (today's date); immediate implementation expected for upcoming cycles

Ongoing (semi DEADLINE

annual); Reports due in April (ref. 31 Dec) and October (ref. 30 Jun) each year

Compliance Impact

Urgency: High – Ongoing semi-annual obligation with latest amendment today (25 Mar 2026, CSSF 26/908) likely affects the next October 2026 cycle (ref. 30 Jun 2026); non-compliance risks supervisory sanctions, as it supports macroprudential monitoring under ESRB framework. Firms must validate systems/data immediately post-amendment to avoid gaps in reporting population.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News low

March 24th 2026

CSSF Newsletter No 302 – March 2026

No description available.

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

March 24th 2026

Robustness - speech by Huw Pill

Speech at the National Bank of the Republic of North Macedonia and SUERF conference – Central Banking Amid Persistent Global Shifts: Fostering Stability, Innovation, and Resilience, Skopje

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerFintech

🇮🇪 CBI Warning high

March 24th 2026

J.P. Morgan Asset Management (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Asset ManagerBank

Banking & Credit Insurance & Pensions Payments & E-Money Consumer Credit Mortgage & Lending

🇮🇪 CBI Enforcement high

March 24th 2026

Remarks by Deputy Governor Colm Kincaid to Central Bank of Ireland’s Consumer Protection Workshop – Consumer Protection at the Heart of Our Mission

Good afternoon and welcome to this Central Bank of Ireland workshop on the Consumer Protection Code. Today I will focus on the outlook for consumers and investors. But first let me pause to talk a little about the broader context in which we find ourselves. We are living through a period marked by extraordinary change, geopolitical instability, rapid technological transformation and shifting economic conditions. Governor Makhlouf summarised this well when he said how 2026 has already seen ext...

AI Analysis

Deputy Governor Colm Kincaid's speech on 24 March 2026 emphasizes consumer protection as central to the Central Bank of Ireland's (CBI) mission amid geopolitical, technological, and economic changes, highlighting the revised **Consumer Protection Code 2025** (CPC 2025) as a key modernization effort. This matters for compliance professionals because the CPC 2025 introduces enhanced, digitally-focused protections effective **24 March 2026**, replacing the 2012 Code after a 12-month implementation period, with firms required to proactively secure customer interests.

What Changed

The CPC 2025 comprises Standards for Business Regulations (governance, resources, risk management, conduct standards) and Consumer Protection Regulations (cross-sectoral and sector-specific rules for...
Core obligation: Firms must "secure customers’ interests," shifting to a proactive, customer-focused mindset.
Cross-sectoral requirements: Knowing the consumer/suitability; conflicts of interest/remuneration; vulnerable consumers (updated definition); digitalisation (customer-focused design); effective...
Specific enhancements: Fraud/scam protections; mortgage switching disclosures; greenwashing prevention via clear sustainability claims; expanded consumer definition (e.g., SMEs up to €5m turnover...
Supporting materials: Guidance on securing interests/vulnerable consumers, mapping tool for legacy codes, redline amendments.

Suggested Considerations

Gap analysis: Map current policies/processes against CPC 2025 using CBI's mapping tool; update for new obligations like digital service design, vulnerability screening, fraud measures.
Policy/system updates: Implement "secure customers’ interests" framework; enhance disclosures (e.g., mortgages, charges, unregulated activities); train staff on conduct standards/vulnerable consumers.
Governance/risk: Strengthen board oversight, risk management for cyber/fraud/digital risks; distinguish regulated/unregulated activities.
Testing/monitoring: Develop records/compliance systems; test advertising/bundling; integrate sustainability claims checks.
Stakeholder engagement: Review CBI guidance/FAQs; prepare for supervision during implementation.

Key Dates

24 March 2025

- CBI publishes revised CPC 2025, Standards for Business Regulations, Consumer Protection Regulations, and guidance

24 March 2026

- CPC 2025 takes effect; existing 2012 Code ceases (12-month implementation period ends)

Until 24 March 2026

- 2012 Code (with addenda) remains in force

Compliance Impact

Urgency: High – With effectiveness today (24 March 2026), firms face immediate non-compliance risk as the 12-month window closes; CBI supervision will intensify on digital/fraud/vulnerability protections amid heightened risks (e.g., cyber, scams). Non-adherence risks enforcement under CBI's powers, reputational damage, and fines, especially as this "gold-plates" EU rules in a volatile environment.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankInsurancePayment Provider

🇬🇧 BoE Enforcement high

March 24th 2026

PRA fines The Bank of London and its parent company Oplyse Holdings Limited £2m for failing to act with integrity and misleading the PRA over their capital position

The Prudential Regulation Authority (PRA) has fined The Bank of London Group Limited and Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2 million for misleading the PRA over their capital positions, failing to act with integrity, failing to be open and cooperative with the regulator and failing to maintain adequate financial resources.

AI Analysis

The Prudential Regulation Authority (PRA) fined The Bank of London Group Limited and its parent Oplyse Holdings Limited £2 million (reduced from £12 million due to financial hardship) for serious breaches including misleading the regulator with fabricated documents on capital positions, failing to act with integrity, lacking openness, and breaching capital and large exposure rules from October 2021 to May 2024. This marks the PRA's first enforcement for integrity failures and first action against a parent holding company, signaling heightened scrutiny on governance, reporting accuracy, and parent-subsidiary accountability in UK banking. Compliance professionals should note this as a precedent reinforcing zero tolerance for deceptive practices, with potential for escalated penalties absent settlement or hardship claims.

What Changed

This enforcement action does not introduce new rules but enforces existing PRA requirements with landmark application:
First PRA fine for breaching Fundamental Rule 1 (conduct business with integrity), highlighting fabrication of documents as a core violation.
First enforcement against a parent financial holding company (Oplyse Holdings), extending liability to group entities for capital reporting and related party exposures.
Emphasizes strict adherence to Fundamental Rules 3, 4, and 7 (prudence, adequate resources, openness), CRR reporting (e.g., own funds on individual/consolidated basis), Large Exposures rules...

Suggested Considerations

Conduct capital position audits to verify CRR reporting accuracy (individual and consolidated own funds) and remediate any discrepancies.
Review intra-group exposures for large exposure limits (Articles 393-395), related party transactions (Rules 2.1/2.3), and notification obligations.
Enhance governance controls for integrity (Fundamental Rule 1), including document fabrication prevention, timely solvency disclosures (Fundamental Rule 7), and prudent management (Fundamental Rule 3).
Stress-test parent-subsidiary interactions and ensure openness with PRA on deteriorating positions.
Update training on PRA enforcement policies (PS1/24) and bank supervision (SS3/21).

Key Dates

7 October 2021 DEADLINE

22 May 2024; Period of identified breaches, including capital non-compliance, misleading submissions, and large exposure failures

Compliance Impact

Urgency: High – This sets a precedent for integrity-based fines and parent company liability, risking similar actions for any firm with capital misreporting or opaque group dealings; even settled penalties were reduced only due to hardship, indicating PRA's willingness to pursue £12m+ originally. Matters critically for banks/fintechs with complex structures, as it amplifies personal accountability under Senior Managers Regime and erodes trust, potentially triggering closer PRA supervision or prohibitions.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

Topics:

BankFintech

🇬🇧 FCA policy_statement high

March 24th 2026

Timing of the FCA's motor finance announcement

We will set out our approach on motor finance redress shortly after markets close on Monday 30 March, having consulted on a compensation scheme in October 2025.

AI Analysis

The FCA is scheduling its announcement on a proposed motor finance redress scheme—addressing historical commission disclosure failures in car loans—for shortly after markets close on Monday, 30 March 2026, following a consultation launched in October 2025. This matters because it signals imminent final rules that could impose up to GBP11 billion in costs on lenders, affecting millions of consumers and requiring urgent operational preparations to ensure timely payouts in 2026.

What Changed

- Introduction of a 3-month implementation period for most firms, extendable to 5 months for older motor finance agreements, to handle the scheme's scale and complexity.
Streamlined consumer journey: Pre-scheme complainants no longer need to opt out; lenders must notify them of owed compensation within 3 months post-implementation, with immediate acceptance options...
Removal of mandatory recorded delivery for customer communications, allowing flexible channels with fraud safeguards.
No final decision yet on proceeding, but likely modifications based on over 1,000 consultation responses, including backlash from lenders.

Suggested Considerations

Review and prepare systems: Firms must gear up for redress calculations, notifications, and payouts within the 3-5 month implementation window; voluntary early processing encouraged.
Monitor complaints: Advise customers to complain directly (avoiding CMCs to prevent 30%+ fee losses); process pre-scheme complaints under forthcoming rules.
Assess provisions: Quantify exposure (e.g., GBP11 billion industry-wide estimate) and update financial reserves, as done by Santander/Lloyds.
Compliance checks: Ensure communication channels meet fraud safeguards; cease non-compliant practices per FCA interventions.
Stakeholder engagement: Track the 30 March announcement (confirmed date forthcoming) and respond to any residual consultation feedback.

Key Dates

October 2025

Consultation on compensation scheme launched

~June 2026 (3 months post

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing

Topics:

BankInsurance

Banking & Credit Investment Management Insurance & Pensions

🇯🇵 JFSA News medium

March 23rd 2026

Publication,FSA Weekly Review No.680 March 23, 2026

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerInsurance

🇱🇺 CSSF News

March 23rd 2026

Mr Davy Reinard sworn in by the Minister of Finance as Director Resolution (only in French)

Press release 26/07

Sectors:

Prudential / Capital Requirements Senior Managers / Governance

Topics:

Bank

Banking & Credit Mortgage & Lending Investment Management

🇨🇭 FINMA Enforcement medium

March 23rd 2026

Aktualisierte Sanktionsmeldung: Ukraine

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) amended Annex 8 of the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72) on March 19, 2026, removing 7 natural persons from the sanctions list. This update requires financial intermediaries to immediately review and adjust their sanctions screening processes, as it directly impacts asset freeze obligations and reporting under Swiss sanctions regime.

What Changed

- Removal of 7 natural persons from Annex 8, which lists designated individuals subject to asset freezes and other restrictive measures related to the Ukraine situation.
Update to the SESAM sanctions database (SECO Sanctions Management), Switzerland's authoritative list aligned with EU sanctions.
No new designations or additional prohibitions introduced; this is a delisting that narrows the scope of sanctions application.

Suggested Considerations

Screen and release assets: Review client portfolios and frozen assets linked to the 7 delisted persons; release any previously frozen assets unless other sanctions apply (e.g., via GwG AML checks).
Update internal systems: Refresh sanctions screening tools with the latest SESAM data to avoid erroneous freezes or compliance breaches.
Report to SECO if applicable: If assets were frozen and are now releasable, notify SECO of prior relationships; conduct GwG Art. 6 due diligence and report suspicions to the Money Laundering Reporting Office (MROS) under Art. 9 GwG if unresolved.
Document changes: Maintain audit trails of screening adjustments to demonstrate compliance with ongoing supervisory obligations.

Key Dates

What Changed

No new rules or legislative changes are introduced; this is a supervisory reminder reinforcing existing obligations under the Money Laundering Regulations 2017 (MLRs). It emphasizes enhanced due diligence on Annex 1 firms, referencing the 2025 National Risk Assessment (NRA) for risk management. The FCA highlights proactive engagement, including a 2024 letter to CEOs and follow-up with 300 firms in late 2025, signaling intensified supervision without altering the registration-only regime under the Financial Services and Markets Act.

Suggested Considerations

Verify Annex 1 registration status directly from the firm and via independent checks (e.g., FCA Register).
Understand the Annex 1 firm's business model, products, and risks, aligning with MLRs and 2025 NRA.
Manage identified risks, such as AML deficiencies or consumer encouragement into limited company structures for unregulated lending.
Document due diligence to demonstrate compliance, integrating into broader financial crime frameworks (e.g., BWRA/CRA per FCA findings).

Key Dates

Topics:

AML / Financial Crime Authorisation & Licensing Senior Managers / Governance

BankAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

March 20th 2026

Tradealles(.)com: BaFin warns consumers about website and identity fraud

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website tradealles(.)com. BaFin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

March 20th 2026

Identity fraud: BaFin warns consumers about the website panthera-gmbh(.)com

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website panthera-gmbh(.)com. BaFin suspects the unknown operators of the website of offering consumers financial and investment services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankWealth ManagerFintech

Banking & Credit Investment Management Insurance & Pensions

🇬🇧 FCA Speech medium

March 20th 2026

How technology is changing the pensions conversation

Speech by Nikhil Rathi, FCA chief executive, at the JP Morgan Pensions and Savings Symposium 2026. Last year, I spoke about the importance of getting on the right track.That if we want better consumer outcomes – as well as stronger capital markets to support growth – we need to think beyond individual products and look at the whole financial journey.How pensions interact with housing wealth…How savings interact with advice…And how all these decisions evolve across a lifetime.Over the past yea...

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Reporting & Disclosure

Asset ManagerBankWealth Manager

🇬🇧 FCA News high

March 20th 2026

FCA orders Beauforce Corporation to stop operating and return client money

We have restricted Beauforce Corporation Limited from carrying out any regulated activities. This means it cannot provide regulated debt advice or debt management services to consumers. We have also ordered the firm to return money held in its bank accounts to its clients.We’ve taken this action following concerns about the suitability of the firm’s senior management and its conduct in dealing with us. Read the full Notice (PDF)

Sectors:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Topics:

All Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

March 20th 2026

BaFin warns consumers about the website gfi-hold(.)com

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website gfi-hold(.)com. BaFin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

March 20th 2026

Development of the banks' financial situation over the last years

Situation as at 31 December 2025

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning high

March 20th 2026

Warning concerning persons misusing the name of the Chair of the CSSF Board

(first publication: 30 October 2024)

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Operational Resilience / Outsourcing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

March 20th 2026

Development of the bank's balance sheet total

Situation as at 31 December 2025

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News low

March 20th 2026

Quarterly development of employment in banks

Situation as at 31 December 2025

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇸🇬 MAS News high

March 20th 2026

MAS Partners Industry to Develop AI Risk Management Toolkit for the Financial Sector

MAS announced the successful conclusion of phase two of Project MindForge, which culminates in the publication of an Artificial Intelligence (AI) Risk Management Toolkit for the financial services sector.

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Prudential / Capital Requirements

BankFintechAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News

March 19th 2026

International,The fourth meeting of the Japan-UK Financial Regulatory Forum

No description available.

Sectors:

Topics:

Prudential / Capital Requirements ESG Technology & Cyber

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇮🇪 CBI News medium

March 19th 2026

Issue 3 2026

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News high

March 19th 2026

Bank Rate maintained at 3.75% - March 2026 Monetary Policy Summary and Minutes

The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇩🇪 BaFin News high

March 19th 2026

High Performance Battery Holding AG: grounds to suspect shares being offered to the public without the required securities prospectus

The Federal Financial Supervisory Authority (BaFin) has sufficient grounds to suspect that High Performance Battery Holding AG, Switzerland, is offering securities in the form of company shares to the public in Germany without the required prospectus. There are no indications that the conditions for exemption from the prospectus requirement are met.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News medium

March 19th 2026

Legal department - Consumer protection / financial crime (Updated)

Out-of-court consumer complaint resolution

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Operational Resilience / Outsourcing

BankWealth ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

March 18th 2026

Crowdfunding: the AMF reminds platforms of their complaint handling obligations

Asset management Crowdfunding: the AMF reminds platforms of their complaint handling obligations

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Asset ManagerBroker DealerWealth Manager

Investment Management Banking & Credit Wealth & Private Banking

🇱🇺 CSSF Warning high

March 18th 2026

Warning concerning fraudulent activities by persons misusing the name of JPMorgan Asset Management (Europe) S.à r.l.

No description available.

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

Asset ManagerBankWealth Manager

🇮🇪 CBI Speech

March 18th 2026

Opening Statement by Colm Kincaid, Deputy Governor of Central Bank of Ireland at the Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Role of Non-Bank Entities in the Irish Housing Market regarding residential mortgages Go raibh maith agat a Chathaoirligh agus gabhaim buíochas leis an gcoiste as ucht an cuireadh a bheith anseo inniú. I am joined by my colleagues Domhnall Cullinan, Director of Banking and Payments, and Aisling Menton, Head of Retail Credit and we welcome the opportunity to continue this important discussion on the role of non-bank entities in the Irish mortgage market. As outlined in updated figures we publi...

Sectors:

Consumer Protection / Conduct Prudential / Capital Requirements

Topics:

BankFintechAll Firms

🇱🇺 CSSF News high

March 18th 2026

Communication to the investment fund industry

in relation to additional liquidity management requirements for Luxembourg-domiciled UCITS, or where applicable their management company, and Luxembourg-authorised AIFMs that manage open-ended AIFs, introduced by the Law of 3 March 2026, transposing Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024

Sectors:

Prudential / Capital Requirements Consumer Protection / Conduct

Topics:

Asset ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

March 18th 2026

Claudia Buch: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

March 18th 2026

ECB Annual Report on supervisory activities 2025

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇬🇧 FCA News high

March 18th 2026

FCA confirms new incident and third party rules to bolster resilience

We’ve confirmed new rules to make existing incident and third party reporting clearer, more consistent, and easier for firms to follow. These new rules will help us respond quickly to disruption such as a cyber attack or power outage, give firms greater certainty on what to report and when and strengthen firm resilience to better protect consumers and markets.Cyber attacks are becoming more frequent and more sophisticated, and firms are increasingly reliant on third party providers. In 2025, ...

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Technology & Cyber

BankFintechCrypto Exchange

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇬🇧 PRA policy_statement high

March 18th 2026

PS7/26 – Operational resilience: Operational incident and third-party reporting

Policy statement 7/26

AI Analysis

PS7/26 finalizes PRA rules for standardized reporting of operational incidents and material third-party (MTP) arrangements, responding to CP17/24 consultation feedback by reducing firm burden through simplified templates and exclusions. This matters for compliance professionals as it enhances PRA oversight of operational resilience risks amid rising threats and third-party reliance, aligning with international standards like DORA and FSB FIRE while supporting identification of critical third parties (CTPs).

What Changed

- MTP Reporting: Amended notification rule for clarity; scope excludes credit unions with <£50m assets and all third-country branches; separated register and notification templates with reduced data...
Operational Incident Reporting: Merged three-phased reports (initial, interim, final) into one simplified, aligned template across PRA/FCA/Bank; removed fields, made more optional; clarified...
Guidance Enhancements: Updated SS2/21 with MTP identification examples; SS1/26 clarifies threshold interpretation, early-stage assessments, and systemic impact expectations.
Alignment: Full harmonization with FCA/Bank and international standards (DORA, FSB FIRE). | Aspect | CP17/24 Proposal | PS7/26 Final Policy | |--------|------------------|---------------------| |...

Suggested Considerations

Identify and notify MTP arrangements via FCA Connect (excluding exemptions); maintain annual register with reduced fields.
Monitor/assess operational incidents against clarified thresholds (e.g., contagion, reputation); submit single report if met, within specified timelines.
Update policies per SS1/26 (thresholds) and SS2/21 (MTP identification).
Align reporting with PRA/FCA/Bank templates; use data for resilience prioritization.
For insurers: Integrate with ongoing operational resilience post-SS1/21 milestone (31 March 2025).

Key Dates

December 2024

- CP17/24 consultation published

H1 2026

- Final PRA/FCA rules on operational incident and third-party reporting effective (per industry analysis)

30 working days post

incident resolution; - Submit final incident report update (extendable to 60 working days in complex cases)

Annual

- MTP register reporting (exact date not specified; aligns with notifications)

Compliance Impact

Urgency: High - Mandates new reporting infrastructure and processes amid rising operational threats; non-compliance risks supervisory action on resilience vulnerabilities. Reduced burden from CP mitigates costs, but timely implementation critical for PRA oversight and CTP identification; benefits (e.g., thematic analysis) outweigh costs per PRA.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Technology & Cyber

BankInsuranceAll Firms

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇬🇧 PRA Guidance high

March 18th 2026

SS1/26 – Operational resilience: Incident reporting

Supervisory statement 1/26

AI Analysis

SS1/26 outlines the PRA's expectations for firms to report operational incidents via a structured three-phase process (initial, intermediate, final) as mandated in the PRA Rulebook's Regulatory Reporting Part, Chapter 24, to enhance UK financial sector resilience by capturing incidents risking firm safety, policyholder protection, or stability. This matters because it standardizes reporting, enabling timely PRA oversight and reducing inconsistencies in incident data collection across regulated entities.

What Changed

- Introduces clear reporting thresholds in Regulatory Reporting Rule 24.2: Firms must report if an incident poses risks to UK financial stability, firm safety/soundness, or (for insurers)...
Mandates a phased reporting approach (Rule 24.1-24.4): Initial report as soon as practicable (expected within 24 hours of threshold determination); intermediate updates for significant changes (e.g.,...
Excludes near-misses (potential events without disruption/data loss to external users); aligns with but does not replace Fundamental Rule 7 or Notification Part Chapter 2 obligations.
Specifies reporting via a "Reporting Fields Document"; firms balance reporting with incident resolution.

Suggested Considerations

Assess incidents against PRA thresholds (e.g., risk to stability/soundness/policyholders, considering contagion, disruptions > thresholds, data loss, media impact); report if met, even if internally high-priority.
Submit phased reports using specified fields: Initial (basic details promptly); Intermediate (updates on changes like impact, strategy shifts, resolution); Final (full details post-resolution).
Maintain processes for prompt classification, data gathering, and submission while prioritizing resolution; continue ad-hoc supervisory notifications if needed.
Review internal policies to align severity ratings with PRA thresholds; document assessments.
For critical third-party (CTP) incidents, both firms and CTPs report uniquely.

Key Dates

18 March 2026

- Publication date of SS1/26

18 March 2027 DEADLINE

- Effective date; firms must comply with reporting requirements

Within 24 hours

- Expected submission of initial phase report after determining threshold met (as soon as practicable)

Each significant change

- Intermediate phase update(s), including at resolution

Within 30 working days of resolution

- Final phase report (extendable to 60 working days if impracticable)

Compliance Impact

Urgency: High – With effectiveness just over one year away (18 March 2027), firms must urgently map incident management frameworks to new thresholds/phases, update policies, train staff, and test reporting (e.g., via simulations), as non-compliance risks enforcement under PRA rules and heightened scrutiny on resilience amid rising cyber/operational threats. This elevates operational resilience from preparation (e.g., IMT testing by March 2025) to active reporting, demanding integrated tech/governance upgrades.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure

BankInsuranceAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Guidance high

March 18th 2026

Circular letter

Latest update on the AML/CFT standardised data collection

AI Analysis

This CSSF circular letter addresses the 2026 AML/CFT standardised data collection exercise, aligning with AMLA's EU-wide initiatives by adopting AMLA-developed templates for most supervised entities while requiring specialised professionals to use CSSF-specific forms. It matters for Luxembourg financial firms as it mandates reporting on ML/TF risks and mitigation measures to support consistent EU supervision, with recent delays emphasizing preparation needs amid evolving templates.

What Changed

- CSSF adopts AMLA-developed data collection templates for credit institutions, investment firms, and investment fund managers (excluding specialised professionals), replacing its prior questionnaire...
Entities selected for AMLA's mandatory calibration exercise (notified directly by CSSF) must report quantitative and qualitative ML/TF risk data; non-selected entities still report via AMLA templates...
Launch delayed from 2 March 2026 due to AMLA's consultation feedback on templates and guidance; new timelines and final questionnaire to be announced, but AMLA maintains 15 April 2026 submission for...
Specialised professionals of the financial sector complete a separate CSSF questionnaire, launching earlier on 23 February 2026 (subject to delay).

Suggested Considerations

Monitor CSSF communications for final questionnaire, launch dates, and eDesk access; prepare data on 2025 ML/TF risks and mitigation using current AMLA draft (not for submission).
Selected AMLA calibration participants: Compile and submit quantitative/qualitative data via eDesk by 15 April 2026; attend 13 March webinar.
Non-selected credit/financial institutions: Complete AMLA templates on ML/TF risks/mitigation for 2025 via eDesk upon launch.
Specialised professionals: Prepare CSSF-specific questionnaire ahead of (delayed) 23 February launch.
All: Ensure resources for timely reporting; review internal AML/CFT risk assessments for consistency with EU standards.

Key Dates

23 February 2026

- Planned launch for specialised professionals' CSSF questionnaire (delayed per 11 March update)

2 March 2026

- Original launch date for AMLA questionnaire and calibration exercise via eDesk platform (delayed)

13 March 2026

- AMLA webinar (10:00-12:00) on reporting framework and clarifications (connection details in CSSF annex)

15 April 2026 DEADLINE

- Submission deadline for AMLA calibration exercise participants (maintained despite delays; changes to be communicated)

TBD (post DEADLINE

11 March 2026); - New launch and submission deadlines for all data collections, pending final AMLA questionnaire

Compliance Impact

Urgency: High - Mandatory reporting supports CSSF's supervisory strategy and EU AMLA calibration, with non-compliance risking enforcement; delays provide preparation time but require immediate data readiness as final deadlines approach shortly (e.g., potential April submissions). This directly feeds into entity-level ML/TF risk assessments, influencing ongoing supervision and resource allocation.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

March 18th 2026

ECB publishes supervisory banking statistics on significant institutions for the fourth quarter of 2025

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

🇪🇺 ECB News medium

March 18th 2026

Supervisory Banking Statistics for significant institutions - Fourth quarter 2025

No description available.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

March 18th 2026

ASIC launches financial complaints data dashboard

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇦🇺 ASIC News medium

March 18th 2026

The Prudential Regulation Authority has today published proposals aimed at ensuring banks can monetise liquid assets quickly in a fast-paced stress event – such as the collapse of Silicon Valley Bank in 2023.

AI Analysis

The PRA has launched a three-month consultation on modernized liquidity standards designed to ensure banks can rapidly convert liquid assets to cash during stress events, responding directly to lessons from the 2023 collapses of Silicon Valley Bank and Credit Suisse. Rather than requiring banks to hold more liquid assets, the reforms focus on **operationalizing existing liquidity** through enhanced stress testing, removal of exemptions for sovereign bonds, and improved preparedness for central bank facility access.

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech medium

March 17th 2026

Modernising the liquidity framework for banks and building societies - speech by Phil Evans

Given at University of Leeds, Cloth Hall Court, Leeds

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerAll Firms

🇬🇧 PRA Consultation high

March 17th 2026

CP5/26 – Modernising the liquidity policy framework

Consultation paper 5/26

AI Analysis

CP5/26 is a PRA consultation paper proposing updates to the liquidity policy framework to address modern risks from digital banking, payments, and technology that can amplify liquidity stresses. It matters because it strengthens firms' resilience by emphasizing liquidity resource composition, monetisation risk, and short-term stress scenarios, ensuring firms can meet outflows in acute crises.

What Changed

- Composition of liquidity resources: Revise the Overall Liquidity Adequacy Rule (OLAR) to explicitly require adequate composition (not just amount) of liquidity resources, balancing cash, non-cash...
Monetisation risk assessment: Replace 'marketable asset risk' with monetisation risk in ILAA rule 11.5, with detailed expectations in updated SS24/15 on market access, accounting treatment, repo/sale...
Stress scenario design: New requirement for a business model-specific stress scenario with sudden, severe outflows peaking in the first week (up to 7 days), integrated into ILAAP/ILAA.
Governance and ILAAP updates: Embed governance for ILAAP preparation, OLAR reviews, ALM committees; clarify risk appetite, Liquidity Contingency Plans (LCP), funding plans; streamline SS24/15...
Central bank facilities: Expectations to assess pre-positioned collateral, drawing capacity, operational readiness for publicly available facilities (excluding emergency assistance); monitor in ILAAP.

Suggested Considerations

Review and respond to consultation by 17 June 2026, indicating confidentiality and publication consent.
Update internal processes: Revise ILAAP/ILAA to include new stress scenario (sudden/severe outflows in first 7 days), monetisation risk assessments (with template), liquidity composition analysis, central bank facility readiness (pre-positioned collateral monitoring).
Enhance governance: Strengthen ALM committees, risk appetite statements (covering frictions, survival horizons), LCP/funding plans integration.
Stress testing: Design firm-specific acute stress with daily granularity, lowest cumulative net cashflows analysis over LCR/survival horizons.
Systems check: Assess impact on validation processes from PRA110 changes; ensure operational readiness for asset monetisation.

Key Dates

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS Enforcement high

March 17th 2026

MAS Issues Prohibition Orders against former Relationship Managers, Mr Wang Qiming and Mr Liu Kai

Singapore, 17 March 2026 … The Monetary Authority of Singapore (MAS) has issued Prohibition Orders (POs) under the Financial Services and Markets Act 2022 (FSMA) against Mr Wang Qiming and Mr Liu Kai, former relationship managers, who were convicted of charges connected to the major money laundering case of August 2023. Given the gravity of their misconduct, MAS has issued a 16-year PO against Mr Wang Qiming and a 7-year PO against Mr Liu Kai.

AI Analysis

The Monetary Authority of Singapore (MAS) issued Prohibition Orders (POs) on 17 March 2026 under the Financial Services and Markets Act 2022 (FSMA) against former relationship managers Wang Qiming (16-year PO) and Liu Kai (7-year PO) for convictions tied to Singapore's S$3 billion money laundering scandal of August 2023. This enforcement action underscores MAS's rigorous application of fit and proper criteria, barring them from regulated activities due to forgery, money laundering, and related offences. It matters for compliance professionals as it signals heightened scrutiny on individual accountability in AML failures within wealth management.

What Changed

This is not a new regulation but an enforcement action applying existing FSMA powers. Key elements include:
MAS deeming individuals "not fit and proper" under Guidelines on Fit and Proper Criteria (section 7, FSMA), based on convictions for forgery (Penal Code), money laundering (Corruption, Drug...
POs prohibit: (i) carrying on MAS-regulated activities; (ii) direct/indirect management of financial institutions; (iii) acting as director/partner/manager of financial institutions; (iv)...
Durations reflect misconduct gravity: 16 years for Wang (four convictions, 24 months' jail, six taken into consideration); 7 years for Liu (one conviction, 4 months' jail). No broader regulatory...

Suggested Considerations

Screen existing/prospective staff: Immediately verify no employment of Wang/Liu or prior prohibited individuals (e.g., via MAS enforcement list); cease any roles if discovered.
Enhance RM onboarding/monitoring: Review KYC/CDD for HNWIs, especially from high-risk jurisdictions (e.g., Fujian-linked); audit forgery detection in documents.
Senior manager accountability: Ensure policies for AML audits, risk assessments; train on fit and proper obligations under FSMA Guidelines.
Report breaches: Disclose any inadvertent involvement to MAS promptly.
Firm-wide review: For scandal-linked FIs (e.g., 9 fined S$27.45m, 4 Blue Ocean staff POs), confirm remediation; others benchmark controls against MAS actions.

Key Dates

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Capital Markets & Trading Investment Management Banking & Credit

🇺🇸 SEC Enforcement high

March 16th 2026

SEC Announces Enforcement Division Director Judge Margaret A. Ryan Has Resigned From Agency

The Securities and Exchange Commission today announced that Judge Margaret A. Ryan has resigned from her role as Director of the Division of Enforcement. Principal Deputy Director Sam Waldon has been named Acting Director of the Division, effective March…

AI Analysis

Judge Margaret A. Ryan, who assumed the role of SEC Enforcement Division Director in August 2025 and signaled a significant recalibration of enforcement priorities toward fraud and market integrity while reducing enforcement actions for technical violations, has resigned from the agency. Principal Deputy Director Sam Waldon has been named Acting Director, creating immediate uncertainty regarding continuity of the enforcement approach that was just articulated in February 2026 and may signal a shift in the SEC's enforcement trajectory going forward.

What Changed

The resignation itself does not constitute a regulatory change, but it creates operational uncertainty regarding the enforcement priorities and procedural reforms that Director Ryan had recently...
Reduced enforcement for technical violations: Director Ryan had signaled that routine violations concerning reporting requirements, recordkeeping, and internal accounting controls should not...
"Middle ground" approach: For non-fraud violations posing investor or market integrity risks, the Division was to pursue resolutions emphasizing remediation over punishment.
Continued fraud focus: The Division was to maintain rigorous enforcement on fraud, insider trading, market manipulation, and scams targeting retail investors. Enforcement Manual Updates (Effective...
Four-week timeline for post-Wells meetings with senior leadership (Associate Director level or above)

Suggested Considerations

*Immediate (Next 30 Days):
*Monitor Acting Director's statements: Compliance teams should closely track any public remarks or guidance from Acting Director Sam Waldon regarding enforcement priorities and procedural expectations.
*Assess Wells submissions in progress: For entities with pending Wells submissions, evaluate whether the change in leadership creates opportunities to supplement submissions or request expedited meetings under the four-week timeline.
*Review investigation status: Entities in early-stage investigations should assess whether the leadership transition may affect investigation trajectory or resolution opportunities.
*Update compliance calendars: Ensure all enforcement-related deadlines and procedural requirements under the updated Enforcement Manual remain tracked and current.

Key Dates

February 11, 2026

- Director Ryan delivered public remarks outlining enforcement priorities and Wells process commitments

February 24, 2026

- SEC announced comprehensive updates to Enforcement Manual (first update since 2017)

March 17, 2026

- Judge Margaret A. Ryan's resignation announced; Sam Waldon named Acting Director (effective immediately)

Ongoing

- Four-week timeline for post-Wells meetings with senior leadership remains in effect pending Acting Director's confirmation of policy continuity

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original SEC source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Senior Managers / Governance Authorisation & Licensing

Broker DealerAsset ManagerBank

🇺🇸 CFTC News medium

March 16th 2026

CFTC Chairman Selig Announces Jessica Harris as Director, Division of Data and Chief Data Officer

No description available.

Sectors:

Reporting & Disclosure Technology & Cyber Market Abuse / Surveillance

Topics:

BankBroker DealerAll Firms

Banking & Credit Crypto & Digital Assets Consumer Credit

🇬🇧 FCA Guidance critical

March 16th 2026

Creating a redress system that works better for consumers and firms

We’ve reached a significant milestone in our joint work with the Financial Ombudsman Service and the Government to modernise the redress systemso that consumers get fair outcomes quicker and firms have greater clarity about how issues will be handled.We’re delivering change at speed by acting now within our current powers, with a focus on improving how the system works in practice. This includes a new registration stage for complaints, updated dismissal grounds and clearer guidance on the fai...

AI Analysis

The FCA, in collaboration with the Financial Ombudsman Service (FOS) and the Government, has announced modernization of the UK's financial redress system to accelerate consumer compensation and provide firms with greater regulatory clarity. This initiative represents a fundamental shift in how complaints are registered, assessed, and resolved, with immediate implementation underway within existing FCA powers and broader legislative reforms planned.

What Changed

The redress system modernization introduces several structural and procedural reforms: Registration Stage for Complaints A new formal registration stage has been introduced to standardize how complaints enter the system, improving tracking and early identification of systemic issues across firms and markets. Updated Dismissal Grounds The FCA has revised the criteria for dismissing complaints, providing clearer standards that should reduce disputes about complaint admissibility and improve consistency in decision-making. Enhanced Fair and Reasonable Test Guidance Clearer guidance on how the...

Suggested Considerations

*Immediate Operational Priorities (Pre-May 2026):
*Governance and Accountability
Appoint senior managers with explicit accountability for complaints handling and redress programmes
Establish board-level oversight structures with regular reporting on complaints volumes, redress calculations, and regulatory compliance
Document decision-making frameworks for complaint eligibility and dismissal grounds

Key Dates

Before end of 2026

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Market Abuse / Surveillance

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 16th 2026

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC Speech

March 13th 2026

New speech by Kelvin Wong: Keynote address at HKICPA’s Financial Services Interest Group Cocktail Reception

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News low

March 12th 2026

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

March 11th 2026

MEX Exchange and MultiBank Group: BaFin warns against offers on the website mexassetexchange(.)com

The Federal Financial Supervisory Authority BaFin warns against offers on the website mexassetexchange(.)com. According to information available to BaFin, the operator MEX Eychange, allegedly based in Eschborn, Germany, is providing financial, investment and crypto asset services without the required authorisation. The operator falsely claims to be regulated by BaFin. There is no link to an authorised investment firm from Eschborn, Germany.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankCrypto ExchangeAll Firms

🇬🇧 FCA News high

March 11th 2026

FCA imposes restrictions on Sendsii Ltd

On 23 January 2026, the FCA imposed requirements on Sendsii Ltd which prevent them from carrying out any regulated activity. The FCA has issued a First Supervisory Notice to Sendsii Ltd after HM Revenue and Customs (HMRC) suspended the firm’s registration on 9 October 2025. The suspension means that Sendsii Ltd no longer met the conditions required for its FCA authorisation under the Payment Services Regulations 2017.These requirements prevent Sendsii Ltd from carrying out any regulated activ...

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Payment Provider

Banking & Credit Consumer Credit Mortgage & Lending

🇬🇧 FCA News high

March 11th 2026

Man jailed for running illegal sale-and-rent-back scheme targeting struggling homeowners

Rajinder Gill and accomplices have been sentenced for their involvement in a sale-and-rent-back scheme. Mr Gill has been sentenced to two and a half years in prison for running a sale-and-rent-back scheme without being authorised and illegally providing credit agreements and mortgages. As accomplices in the scheme, Amandeep Heer received a community order for 2 years with a condition of 250 hours of unpaid work, and Jetinder Sandhu has completed 100 hours' unpaid work over 12 months (as a con...

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Guidance medium

March 11th 2026

Circular letter

Delay in the 2026 AML/CFT standardised data collection

AI Analysis

The CSSF circular letter dated 11 March 2026 announces a delay in its planned AML/CFT standardised data collection exercise originally scheduled for 2026, primarily due to overlap with a concurrent broad-scope data collection by the European Anti-Money Laundering Authority (AMLA). This matters for compliance professionals as it reduces immediate reporting burdens on supervised entities, promotes regulatory simplification, and aligns Luxembourg practices with emerging EU AML/CFT methodologies, allowing firms to redirect resources to the mandatory AMLA exercise.

What Changed

- Postponement of CSSF-specific questionnaire: The CSSF has decided not to proceed with its own AML/CFT standardised data collection for most supervised entities (credit institutions, investment...
Exception for specialised professionals: Specialised professionals of the financial sector (e.g., certain non-credit institutions) remain subject to a CSSF-specific questionnaire, though timelines...
Rationale tied to AMLA calibration exercise: Entities selected for AMLA's 2026 calibration exercise (notified directly by CSSF) must complete it regardless; non-selected entities were to use AMLA...
Potential for ad-hoc requests: CSSF reserves the right to issue targeted questionnaires later in 2026 for essential data points not covered by AMLA. These changes supersede the 12 February 2026...

Suggested Considerations

Monitor CSSF updates: Await forthcoming communications on revised modalities, new timelines, and any ad-hoc requests via eDesk platform.
Prioritize AMLA obligations: Selected entities must prepare quantitative/qualitative ML/TF risk data per draft RTS on risk assessments (Article 40(2) of Directive (EU) 2024/1640); non-selected entities focus on AMLA templates for 2025 risks/mitigation.
Specialised professionals: Continue preparations for CSSF-specific questionnaire, confirming any shifts post-delay.
Internal review: Assess ML/TF risk profiles, mitigation measures, and reporting readiness in light of EU alignment; update compliance calendars to reflect simplification.
No immediate submissions: Stand down from original 2 March/15 April deadlines unless individually notified otherwise.

Key Dates

TBD 2026

Potential ad-hoc CSSF questionnaires for essential data points

23 February 2026

Original launch for specialised professionals' CSSF questionnaire

2 March 2026

Original launch date for AMLA calibration exercise data collection via eDesk (now potentially adjusted or paused per delay circular)

11 March 2026

Publication of delay circular, superseding prior timelines; further modalities to be communicated

15 April 2026 DEADLINE

Original reporting deadline to CSSF for AMLA calibration exercise data

Compliance Impact

Urgency: Medium. The delay alleviates short-term pressure by postponing submissions and reducing dual reporting, enabling resource reallocation to higher-priority AMLA efforts amid EU harmonization. It matters for maintaining a risk-based approach (RBA) under FATF standards, avoiding overburden from overlapping exercises, and preparing for the new EU AML/CFT methodology—non-compliance risks supervisory scrutiny, but the simplification lowers immediate enforcement exposure.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerAll Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇺 ASIC News high

March 11th 2026

Remedy Housing officers sentenced for dishonesty offences

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News low

March 11th 2026

Charges discontinued in Capital Mining Limited matter

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankWealth ManagerAsset Manager

🇬🇧 BoE Consultation medium

March 11th 2026

Wildlife to feature on next series of Bank of England banknotes

Images of the UK’s wildlife are to feature on the next series of banknotes following a public consultation run by the Bank of England.

AI Analysis

The Bank of England has announced that **wildlife imagery will replace historical figures on the next series of banknotes**, following a public consultation in which nature received 60% support. This decision represents a significant shift in banknote design policy and carries implications for currency authentication, public engagement, and operational planning across the payments ecosystem.

What Changed

The Bank of England is implementing the following design changes:
Theme Selection: Wildlife native to Britain will feature on all denominations (£5, £10, £20, £50) of the next banknote series, replacing historical figures such as William Shakespeare, Winston...
Monarch Continuity: King Charles' portrait will continue to appear on all notes.
Security Integration: Wildlife imagery has been selected partly for its effectiveness in developing banknotes with easily recognizable and distinguishable security features.
Scope Expansion: The design may incorporate additional natural elements including plants and landscapes to complement wildlife imagery.

Suggested Considerations

*Monitor the summer 2026 consultation: Track the announcement of the wildlife expert panel's curated species list and participate in the second consultation if relevant to your operations
*Plan for authentication updates: Currency handlers and retailers should prepare staff training programs for new security features once designs are finalized
*Update systems and procedures: Payment processors and financial institutions should plan for gradual transition protocols as new notes enter circulation
*Engage with BoE communications: Subscribe to Bank of England announcements regarding final design decisions and implementation timelines
*Prepare customer communications: Financial institutions should develop materials explaining the design change and new security features to customers

Key Dates

July 2025

- Initial public consultation on banknote themes closed

Summer 2026

- Second public consultation to gather views on specific wildlife species (announced as forthcoming)

Future (multi

year process); - Design, testing, and printing of next-generation banknotes with anti-counterfeiting technology

Several years ahead

- Issuance of next generation of banknotes

Compliance Impact

Urgency: Medium

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Operational Resilience / Outsourcing Consumer Protection / Conduct

Topics:

BankPayment Provider

🇪🇺 ECB Enforcement high

March 10th 2026

ECB sanctions Nordea subsidiary for breaching limit on large exposures

No description available.

AI Analysis

The ECB imposed a €2.26 million penalty on Nordea Finance Finland Ltd for incorrectly reporting large exposures by assigning guaranteed receivables to debtors instead of guarantors, breaching the 25% capital limit for 13 quarters from 2021-2024 due to serious negligence and internal control deficiencies. This enforcement action underscores the ECB's strict enforcement of large exposure rules under EU banking regulations, serving as a warning for banks on accurate counterparty identification and robust controls. Compliance professionals must prioritize exposure calculation accuracy to avoid severe penalties classified as "severe" under ECB guidelines.

What Changed

- 2021 Regulatory Change: Prohibits assigning guaranteed receivables to debtors for large exposure calculations; exposures must be assigned to guarantors instead, ensuring proper risk attribution to...
Large Exposure Limits (CRR): Exposures exceeding 10% of a bank's capital trigger reporting as "large"; no single exposure or group of connected counterparties may exceed 25% of capital.
Severity Classification: ECB categorizes breaches as "severe" (from minor to extremely severe), guiding penalty calculations per its *Guide to the method of setting administrative pecuniary...
Broader Framework: EBA Guidelines on large exposures provide criteria for assessing breaches and timelines for returning to compliance, emphasizing harmonized EU application.

Suggested Considerations

Review Exposure Calculations: Immediately audit methodologies for guaranteed receivables, ensuring assignment to guarantors per 2021 rules; validate against CRR connected client principles.[ECB Press Release]
Enhance Internal Controls: Implement robust governance to prevent "serious negligence," including automated checks, independent validation, and training on counterparty identification.[ECB Press Release]
Conduct Gap Analysis: Test large exposure reporting for the past 4 years; remediate any breaches within EBA timelines (e.g., return to compliance promptly).
Monitor and Report: Establish real-time monitoring for exposures >10% capital; notify ECB of breaches immediately with remediation plans.[ECB Press Release]
Penalty Challenge Option: Affected firms may appeal to the Court of Justice of the European Union within standard timelines (typically 2 months).[ECB Press Release]

Key Dates

2021

Regulatory change introduced prohibiting debtor assignment for guaranteed receivables; .[ECB Press Release]

Q1 2021 to Q4 2024 (13 consecutive quarters)

Period of breaches by Nordea Finance Finland Ltd; .[ECB Press Release]

10 March 2026

ECB announces €2.26 million penalty; .[ECB Press Release]

Compliance Impact

Urgency: High – This recent ECB enforcement (announced yesterday) demonstrates aggressive penalty application for prolonged breaches, with €2.26 million for "severe" violations signaling heightened scrutiny on large exposures amid ongoing CRR/CRD VI alignment. Firms risk similar fines, reputational damage, and supervisory escalation if controls fail, especially with ECB's 2026-2028 priorities emphasizing risk management. Immediate reviews are essential to mitigate exposure in a regime designed as a prudential backstop.

References

AI-generated analysis. May contain errors or omissions — verify with the original ECB source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇨🇭 FINMA Enforcement critical

March 10th 2026

Aktualisierte Sanktionsmeldung: Islamische Republik Iran

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 3, 12, 13 und 14 der Verordnung vom 12. Dezember 2025 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.

AI Analysis

Switzerland's State Secretariat for Economic Affairs (WBF) has updated sanctions targeting the Islamic Republic of Iran, effective March 10, 2026 at 23:00 UTC, modifying annexes 3, 12, 13, and 14 of the Iran sanctions ordinance (SR 946.231.143.6). This represents a comprehensive revision of Iran-related financial restrictions that requires immediate compliance action from all Swiss financial intermediaries to freeze assets, implement prohibitions, and report affected business relationships.

What Changed

The regulatory update encompasses four substantive modifications:
Annex 3: Expansion of the goods list subject to export/import restrictions
Annexes 12, 13, and 14: Updates to the list of sanctioned persons, enterprises, and organizations subject to asset freezing and transaction prohibitions
SESAM Database: The Swiss sanctions management database (SECO Sanctions Management) has been updated to reflect all changes, published urgently on the WBF website The changes represent a total...

Suggested Considerations

*Implement Prohibitions: Execute all transaction bans and restrictions specified in the updated ordinance annexes
*Asset Freezing: Immediately freeze all assets and funds of sanctioned persons, enterprises, and organizations identified in the updated SESAM database
*Mandatory Reporting to SECO: Report all affected business relationships to the State Secretariat for Economic Affairs within required timeframes
*Enhanced Due Diligence: Conduct additional investigations under Article 6 of the Anti-Money Laundering Act (GwG) when suspicious indicators arise
*Suspicious Activity Reporting: If enhanced due diligence cannot eliminate suspicions, file mandatory reports with the Money Laundering Reporting Office (Meldestelle für Geldwäscherei) under Article 9 GwG without delay

Key Dates

AI Analysis

This speech by Deputy Governor Mary Elizabeth McMunn outlines the Central Bank of Ireland's (CBI) shift toward **outcomes-focused regulation and supervision**, emphasizing five key priorities from the 2026 Regulatory and Supervisory Outlook (RSO) to address geopolitical risks, consumer protection, technology, and resilience in a volatile environment. It matters for compliance professionals as it signals intensified CBI scrutiny on firm behaviors and outcomes rather than mere rule compliance, with direct implications for supervisory engagements, thematic reviews, and enforcement across banking, funds, insurance, and payments sectors.

What Changed

No new legislative changes are introduced in the speech itself, which serves as a practitioner's perspective on implementing the RSO 2026 priorities.
Resilience to geopolitical/macro risks (operational resilience, cyber security, financial resilience).
Consumer/investor protection (customer experience, digitalisation risks, financial crime/fraud).
Technology transformations (AI, digital money, tokenisation). These build on prior developments like the revised Consumer Protection Code (CPC), DORA implementation, and enhanced AML/CFT frameworks,...

Suggested Considerations

Conduct gap analyses for revised CPC compliance, focusing on thresholds, customer experience, and fraud support (immediate if in-scope).
Enhance resilience frameworks: Map operational/cyber risks, perform realistic scenario testing, document risk management for geopolitical/macro uncertainties.
Strengthen financial crime controls: Improve fraud detection, victim support, scam awareness; update AML/CFT via enhanced questionnaires and transaction monitoring.
Review technology/AI governance: Assess AI models, digital innovations (e.g., tokenisation); engage CBI supervisors pre-implementation; ensure data quality/reliability.
Embed ESG/climate risks: Integrate into governance/business models; prepare for desktop/onsite reviews and greenwashing checks.

Key Dates

24 March 2026 DEADLINE

- Revised Consumer Protection Code (CPC) takes effect (12-month lead-in complete; firms must be compliant)

H1–H2 2026

- DORA implementation including threat-led penetration testing (survey issued H1)

H1–H2 2026

- Enhanced AML/CFT Risk Evaluation Questionnaire

H1 2026–H2 2027

- Thematic inspection of transaction monitoring and STR reporting

H1–H2 2026

- UCITS Value at Risk (VaR) model review and depositary oversight

Compliance Impact

Urgency: High – The speech, delivered today (9 March 2026), underscores imminent RSO 2026 execution with CPC effective in 2 weeks (24 March 2026) and H1 2026 activities (e.g., DORA testing, AML questionnaires) starting soon. Non-compliance risks intensified supervision, thematic inspections, enforcement, and reputational damage in a high-geopolitical-risk environment; outcomes-focus demands proactive evidence of resilience and consumer safeguards over procedural box-ticking.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News high

March 9th 2026

Frank Elderson: Nature in decline, economy on the line: the importance of international cooperation for managing nature-related risks

No description available.

Sectors:

Topics:

ESG Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 9th 2026

Brisbane financial advisor and auditor, Sunny Prakash, charged with multiple counts of stealing and fraud

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Wealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 9th 2026

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Wealth ManagerBankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 6th 2026

Federal Court finds two Star Entertainment senior executives breached duties, non-executive directors did not breach duties

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 6th 2026

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAll Firms

🇬🇧 FCA News medium

March 5th 2026

FCA announces senior leadership appointments

We have appointed 2 new senior leaders, further strengthening our capability across key areas of our remit. Chris Knight will join us in July 2026 as director of insurance within our Supervision, Policy and Competition (SPC) division. He joins the FCA from Legal & General, where he has been the group chief risk officer for the last 5 years and member of the Group management committee. Prior to this, he was CEO of Legal & General Retail Retirement for 3 years.David Lymburn joined the Payment S...

Sectors:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Topics:

BankInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

March 5th 2026

Pedro Machado: Interview with Reuters

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Consumer Credit Mortgage & Lending Banking & Credit

🇬🇧 PRA policy_statement high

March 5th 2026

PS6/26 – Recognised exchanges policy and transfer of main indices

Policy statement 6/26

AI Analysis

PS6/26 finalizes the PRA's policy on recognized exchanges (REs) under Article 4(1)(72)(c) of the UK CRR, shifting responsibility to firms for assessing exchange and asset liquidity conditions while restating main indices in the PRA Rulebook and revoking SS20/13. This matters for PRA-regulated firms as it enables more dynamic, risk-sensitive capital treatments for traded assets, potentially expanding eligible REs and supporting competitiveness without PRA pre-approval.

What Changed

- New Recognised Exchanges (CRR) Part in the PRA Rulebook: Specifies conditions for REs focusing on (i) exchange/market structure risk (e.g., operational robustness of clearing/settlement) and (ii)...
Restatement of main indices: List from Commission Implementing Regulation 2016/1646 moved to PRA Glossary without policy changes.
Amendment to 'higher risk equity exposure' definition: Aligns with Basel 3.1 near-final rules, excluding qualifying listed equities from higher risk weights under the standardized approach (ties to...
Revocation of SS20/13: Deletes the supervisory statement on third-country equivalence and REs; consequential amendments to Counterparty Credit Risk (CRR), Credit Risk Mitigation (CRR), and SDDT –...
Minor clarifications: Edits to scope and assessment of clearing/settlement mechanisms for overseas exchanges.

Suggested Considerations

Assess exchanges/assets: From 1 July 2026, evaluate overseas exchanges against new conditions (market structure, liquidity); document processes and update periodically; align with internal credit risk models.
Update policies/systems: Revise credit risk, counterparty credit risk, and CRM frameworks to incorporate firm-led RE assessments; remove references to revoked SS20/13.
Review exposures: Reassess equity exposures for Basel 3.1 alignment; test industry-shared assessments for accuracy and own-accountability.
Governance: Embed in risk management; prepare for PRA thematic reviews on implementation.
Reporting: No new forms, but ensure CRR disclosures reflect updated RE treatments.

Key Dates

AI Analysis

The FCA is implementing a **streamlined motor finance compensation scheme** to address unfair commission disclosure practices, with final rules expected in late March 2026 and scheme launch in early 2026. This represents a major regulatory intervention affecting approximately 14 million motor finance agreements with estimated total redress costs of £8.2 billion, requiring immediate operational preparation by all lenders and finance providers.

What Changed

The FCA's streamlined approach introduces several material modifications to the original compensation scheme proposal: Process Streamlining
Automatic opt-in for prior complainants: Customers who complained before scheme launch will no longer be asked to opt out.
Immediate acceptance of offers: Consumers can accept redress offers immediately rather than waiting for final determinations.
Flexible communication channels: Firms are no longer required to use recorded delivery; alternative channels with fraud safeguards are permitted. Implementation Timeline
Three-month standard implementation period from scheme launch, with up to five months for older agreements to allow adequate data review and calculation accuracy.

Suggested Considerations

*Immediate Priorities (Q1 2026):
*Data Integrity Assessment: Conduct comprehensive audit of historic motor finance agreements to identify eligible customers and validate transactional data completeness, particularly for older agreements.
*Redress Calculator Development: Build auditable, validated redress calculators capable of:
Repricing loans based on proposed APR reductions
Calculating compensatory interest at BoE base rate + 1%

Key Dates

Early 2026

– Scheme implementation begins (exact date dependent on final rules publication)

Late March 2026

– FCA to publish final scheme rules (timing to be confirmed in advance, outside market hours)

31 May 2026 DEADLINE

– Motor finance complaints handling pause lifts; firms must be ready to respond to complaints outside the scheme

11 April 2031 DEADLINE

– Record retention deadline for all relevant scheme documentation

Three months from scheme launch

– Standard implementation period for lenders to contact prior complainants and provide compensation notifications

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

BankFintechAll Firms

🇦🇺 ASIC News medium

March 4th 2026

ASIC cancels Australian credit licence of John Adicho

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

March 4th 2026

ASIC disqualifies NSW director for the maximum period of five years

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News

March 4th 2026

Written reply to Parliamentary Question on green, social, sustainability, and sustainability-linked loans

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News high

March 4th 2026

No description available.

AI Analysis

The Financial Services Agency (FSA) has released the **AI Discussion Paper (Version 1.1)**, an updated consultation document addressing the sound utilization of artificial intelligence in Japan's financial sector. This revised version incorporates stakeholder feedback from the FSA AI Public-Private Forum (June-December 2025) and establishes the regulatory foundation for how financial institutions should approach AI governance, risk management, and compliance as AI adoption accelerates.

What Changed

The Version 1.1 update reflects a stakeholder-informed evolution rather than a complete regulatory overhaul:
Incorporation of industry feedback: The revision integrates insights from the FSA AI Public-Private Forum discussions on AI utilization status, risk management practices, and regulatory application...
Expanded scope: The paper now addresses "a broad range of related issues" beyond the initial Version 1.0 framework, reflecting emerging challenges identified through industry dialogue
Preliminary guidance framework: The document provides initial guidance on current state assessment and challenge identification, explicitly acknowledging that technological advancements may alter...
Regulatory clarity initiative: The paper addresses "situations that require clarification on how regulations apply" to AI implementations, signaling the FSA's intent to reduce regulatory ambiguity...

Suggested Considerations

*Immediate (for compliance and risk teams):
*Obtain and review the full AI Discussion Paper (Version 1.1) (available as Attachment 1 from the FSA website)
*Assess current AI implementations against the preliminary discussion points outlined in the paper
*Identify regulatory gaps in existing AI governance frameworks relative to FSA expectations
*Short-term (30-90 days):

Key Dates

March 2025

The latest report from the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) finds there is still room for improvement. The anti-money laundering supervisors of professional services firms are more effective than at any time since 2018. However, OPBAS remains concerned that their enforcement lacks the teeth to deter firms from falling short of minimum standards.OPBAS’s latest report found Professional Body Supervisors (PBSs) generally continue to demonstrate good levels o...

Effective Date: 31 December 2018

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

March 3rd 2026

CapitalFM: BaFin warns against offers on the website capitalfm(.)io

The Federal Financial Supervisory Authority BaFin warns against offers on the website capitalfm(.)io. According to information available to BaFin, the operator is providing financial and investment services without the required authorisation.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Prudential / Capital Requirements

BankFintechAll Firms

🇬🇧 BoE Guidance high

March 3rd 2026

Statistical Notice 2026/02 - BEEDS user acceptance testing (UAT) environment – Statistical taxonomy v1.3.1 FINAL

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

This Statistical Notice announces the final User Acceptance Testing (UAT) window for the BEEDS platform using Statistical Taxonomy v1.3.1 FINAL, open from 30 March to 17 April 2026, ahead of live submissions for end-May 2026 data due mid-June 2026. It matters for compliance as it mandates testing for statistical reporting firms and software houses to ensure valid submissions, with successful participation required for software houses to gain recognised status on the BoE's published list, impacting reporting readiness and vendor approvals.

What Changed

- Introduction of BEEDS UAT environment specifically for testing Statistical Taxonomy v1.3.1 FINAL, described as the last UAT before live end-May 2026 submissions.
Requirement for software houses to submit valid files for every statistical entry point (no nil returns accepted) to qualify as recognised; Form IP submissions strongly encouraged though not...
Automatic access for statistical reporting firms using existing LIVE credentials; software houses must request access by email.
Post-UAT validation by BoE, with potential loading of test files for verification, and email notifications on review outcomes.
Reminder that BoE name usage in marketing requires prior Press Office approval. No prior taxonomy version explicitly compared, but this builds on prior UAT cycles (e.g., 2025 Notice proposed two...

Suggested Considerations

Statistical reporting firms: Monitor email for temporary UAT password from beedsuat_donotreply@bankofengland.co.uk; log in using existing LIVE firm/user details (no access request needed); submit valid test files across entry points during window.
Software houses: Email BEEDSqueries@bankofengland.co.uk by 20 March 2026 for access; submit valid, non-nil files for every statistical entry point (include Form IP if possible); await BoE validation and recognition list update.
All parties: Ensure submissions contain valid data only; avoid nil returns; seek Press Office approval for any BoE name use in promotions.
Review full details on BoE Statistical Reporting page for recognised software house list.

Key Dates

20 March 2026 DEADLINE

- Software houses must email BEEDSqueries@bankofengland.co.uk to request UAT access

30 March 2026

- BEEDS UAT environment opens for testing Statistical Taxonomy v1.3.1 FINAL

17 April 2026

- BEEDS UAT environment closes (final window before live submissions)

End

May 2026; - Reference period for first live submissions post-UAT

Mid DEADLINE

June 2026; - Due date for live submissions covering end-May 2026 data

Compliance Impact

Urgency: High – This is the final UAT before mid-June 2026 live deadline, with software house recognition tied directly to successful valid submissions (no nil returns), risking non-compliance or delisting for live reporting. Missing it could lead to submission failures, supervisory scrutiny, or reliance on unapproved vendors, especially as BEEDS replaces legacy systems like OSCA. With today near early March 2026, immediate access requests are critical for software houses.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

March 3rd 2026

Council Implementing Regulation (EU) 2026/489 of 26 February 2026

implementing Regulation (EU) No 208/2014 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Ukraine

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

March 3rd 2026

Council Implementing Regulation (EU) 2026/426 of 26 February 2026

implementing Article 8a of Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

🇺🇸 FINRA regulatory_notice medium

March 3rd 2026

Sectors:

Consumer Protection / Conduct Reporting & Disclosure

Topics:

BankPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News medium

March 3rd 2026

The DFSA reminds investors to exercise caution and prudence in periods of…

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

Asset ManagerWealth ManagerBank

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇪 DFSA News medium

March 3rd 2026

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankFintechAll Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇮🇪 CBI Warning high

March 2nd 2026

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Authorisation & Licensing

BankBroker DealerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

March 2nd 2026

Regulatory Notice 26-06

FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇸🇬 MAS News medium

March 2nd 2026

Comments by MAS on Market Conditions

In response to media queries, MAS said that it is closely monitoring developments arising from the ongoing situation in the Middle East, and is assessing the impact on the domestic economy and financial system.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Market Abuse / Surveillance

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News high

March 2nd 2026

DFSA AML and Glossary Modules amendments come into force; FAQs published

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Authorisation & Licensing

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News low

March 1st 2026

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAll Firms

🇪🇺 ESMA Consultation high

February 26th 2026

ESMA consults on post-trade risk reduction services under EMIR 3

ESMA consults on post-trade risk reduction services under EMIR 3 26 February 2026 Post Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation on the requirements for how post-trade risk reduction (PTRR) services can benefit from the conditioned exemption from the clearing obligation introduced under the European Market Infrastructure Regulation (EMIR 3). ESMA is seeking feedback on several elements of the ...

AI Analysis

ESMA has launched a consultation on draft Regulatory Technical Standards (RTS) that establish requirements for **post-trade risk reduction (PTRR) services** to qualify for a conditioned exemption from the mandatory clearing obligation under EMIR 3. This framework is critical because it balances market efficiency gains from risk reduction tools against systemic risk concerns, requiring compliance professionals to understand new operational, transparency, and monitoring requirements before the standards take effect.

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements Operational Resilience / Outsourcing

Topics:

Broker DealerAsset ManagerBank

🇨🇭 FINMA News high

February 26th 2026

Measures at MBaer Merchant Bank AG

The US Financial Crimes Enforcement Network (FinCEN) announced today that it considers MBaer Merchant Bank AG to be a financial institution of primary money laundering concern. FINMA is in contact with the bank and FinCEN in connection with the case. The enforcement proceedings previously concluded by FINMA against the bank are currently pending before the Federal Administrative Court. FINMA has appointed an audit agent at the bank.

Sectors:

AML / Financial Crime Prudential / Capital Requirements

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News medium

February 26th 2026

Directive (EU) 2026/470 of the European Parliament and of the Council of 24 February 2026

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News

February 26th 2026

Court minutes from 2023 that were previously redacted

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Payments & E-Money

🇬🇧 BoE News medium

February 26th 2026

Minutes of the Meeting of the Court of Directors held on 9 December 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerFintech

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇨🇭 FINMA Enforcement critical

February 26th 2026

Sanktionen: Russland und Belarus

Der Bundesrat hat am 25. Februar 2026 beschlossen, die weiteren Massnahmen des 19. Sanktionspakets der Europäischen Union (EU) gegenüber Russland zu übernehmen. Die neuen Massnahmen treten am 26. Februar 2026 in Kraft.

AI Analysis

Switzerland's Federal Council adopted additional measures from the EU's 19th sanctions package against Russia and Belarus on February 25, 2026, effective immediately on February 26, 2026, expanding asset freezes to approximately 2,600 persons, entities, and organizations. This matters for Swiss financial intermediaries as it introduces new prohibitions on crypto services to Russian nationals and firms, transactions with ruble-pegged stablecoins like "A7A5", and extended bans on specialized messaging services for payments, alongside trade restrictions, requiring urgent asset screening and reporting to SECO.

What Changed

- Crypto Restrictions: Complete ban on providing any crypto services to Russian nationals and companies; prohibition on transactions involving specific ruble-backed crypto assets, such as the...
Payment Systems: Expansion of bans on using certain specialized messaging services for payment traffic.
Trade/Goods Bans: Expanded list of goods contributing to Russia's military/technological strengthening, including metals for weapon systems, fuel production products, and acyclic hydrocarbons (key...
Sanctions List Expansion: Builds on December 12, 2025 addition of 64 persons/organizations; Swiss list now aligns fully with EU's, covering ~2,600 targets subject to asset freezes related to Ukraine...
Related EU 19th package details (adopted by Switzerland) include sanctions on Rosneft/Gazprom Neft, shadow fleet ships, new banks, payment systems like Mir/SPFS, and import bans on LNG/acyclic...

Suggested Considerations

Implement all prohibitions immediately: Block crypto services to Russian nationals/companies; halt transactions with ruble-pegged stablecoins like A7A5; cease use of banned messaging services for payments.
Screen and freeze assets of sanctioned persons/entities (~2,600 total); report affected business relationships to SECO.
Conduct additional due diligence under Art. 6 GwG on suspicions; if unresolved, file immediate suspicious activity report to money laundering reporting office under Art. 9 GwG (SECO report does not exempt this).
Update sanctions screening tools, client onboarding, and transaction monitoring for new crypto/trade restrictions; review exposures to energy/finance goods listed.

Key Dates

12 December 2025

- Initial adoption of partial 19th package measures, adding 64 persons/organizations to Swiss sanctions list

13 December 2025

- Entry into force of December 2025 sanctions expansions (related prior update)

26 February 2026

- New measures from EU 19th sanctions package enter into force in Switzerland

Compliance Impact

Urgency: Critical - Effective today (26 February 2026), requiring immediate asset freezes, service halts, and SECO reporting to avoid violations punishable by fines up to CHF 540,000 or 5 years imprisonment (severe cases referred to federal prosecutor); GwG suspicions add AML reporting layers with CHF 100,000 fines for non-reporting. Crypto bans directly target growing evasion risks, amplifying exposure for digital asset firms amid Russia's war economy circumvention tactics.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankPayment ProviderCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

February 26th 2026

Aktualisierte Sanktionsmeldung: Sudan

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 25. Mai 2025 über Massnahmen gegenüber Sudan (SR 946.231.18) publiziert.

AI Analysis

This FINMA publication announces an update to the Swiss sanctions list for Sudan following changes by the UN Sanctions Committee on February 24, 2026, directly incorporated into Switzerland's SESAM database by SECO on February 25, 2026. It matters because financial intermediaries must immediately freeze assets of newly listed parties and report to SECO, while continuing AML due diligence under the GwG (Anti-Money Laundering Act), to avoid enforcement risks from non-compliance with Embargo Act (EmbG) obligations.

What Changed

- The UN Sanctions Committee for Sudan amended its list of sanctioned natural persons, companies, and organizations on February 24, 2026.
SECO updated the SESAM (SECO Sanctions Management) database and published the changes on its website on February 25, 2026.
This triggers direct applicability in Switzerland under the Federal Council's 2016 ordinance for automatic adoption of UN sanctions lists, amending Annex of SR 946.231.18 (Ordinance on Measures...
Financial intermediaries are required to implement prohibitions, freeze assets, and report affected business relationships to SECO; SECO reporting does not exempt AML suspicions under Art.

Suggested Considerations

Screen client portfolios, accounts, and transactions against the updated SESAM Sudan list via SECO's website or MyFINMA notifications.
Freeze (block) assets of any matches and implement transaction prohibitions per the ordinance.
Report affected business relationships to SECO promptly.
Conduct additional due diligence under Art. 6 GwG for suspicions; if unresolved, file immediate suspicious activity report to the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG.
Monitor FINMA's sanctions page for ongoing updates: https://www.finma.ch/en/documentation/international-sanctions-and-combating-terrorism/international-sanctions-and-independent-freezing-measures/.

Key Dates

February 24, 2026

- UN Sanctions Committee amends Sudan list

February 25, 2026

- SECO updates SESAM database and publishes on its website; changes directly applicable in Switzerland

Immediate (upon publication) DEADLINE

- Financial intermediaries must freeze assets and report to SECO; no fixed deadline specified, but "unverzüglich" (without delay) for GwG AML reporting if suspicions persist

Compliance Impact

Urgency: High - Changes are directly applicable with no grace period, requiring immediate asset freezes and reporting to mitigate FINMA enforcement risks (e.g., coercive measures under administrative law). Non-compliance exposes firms to supervisory sanctions, reputational damage, and potential criminal liability under EmbG/GwG, especially amid frequent UN list updates (e.g., recent February 18 change). Firms with Sudan exposure or high-risk clients must prioritize automated screening tools and training.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Insurance & Pensions

🇮🇪 CBI Enforcement high

February 26th 2026

Central Bank sets out its regulatory and supervisory priorities against the backdrop of geoeconomic shifts and accelerating technological changes that are reshaping the financial system

The Central Bank has today published its Regulatory & Supervisory Outlook 2026 , which sets out its latest assessment of the risk landscape facing the financial sector and the supervisory work it will undertake in response. This follows on from the Governor’s letter to the Tánaiste on the economic outlook and regulatory priorities in January . This is the third year of the report, which continues to be set against a backdrop of a changing, uncertain and increasingly complex external environme...

AI Analysis

The Central Bank of Ireland (CBI) has published its **Regulatory & Supervisory Outlook 2026**, outlining priorities shaped by geoeconomic fragmentation, technological acceleration, and elevated risks like operational resilience, cyber threats, data/AI, and consumer protection. This matters for compliance professionals as it signals intensified supervisory scrutiny, including desktop and onsite inspections, across Ireland's financial sector to ensure resilience and adaptability amid uncertainties.[https://www.centralbank.ie/news/article/press-release-central-bank-sets-out-its-regulatory-and-supervisory-priorities-26-february-2026][https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]

What Changed

No new binding regulatory requirements are introduced in this publication, which serves as a strategic outlook rather than enforceable rules. Key shifts in risk assessment include elevated operational risks (due to geopolitics, digitalisation, complex models), increased asset valuation/market risks, and rising data/models/AI risks, while inflation/interest rate risks have decreased.

Suggested Considerations

Implement revised CPC by 24 March 2026, assessing scope changes and business impacts.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Enhance financial crime controls, including fraud victim support, scam awareness, and market abuse detection; monitor AMLA developments.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Embed ESG/climate risks into governance, risk management, and business models, preparing for SFDR 2.0 and event response reviews.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Prepare for integrated supervision via gatekeeping enhancements and streamlined reporting.[https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers]

Key Dates

2026

2027; - Ongoing desktop/onsite reviews on operational resilience, ESG/climate, and supervisory priorities across sectors.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]

24 March 2026 DEADLINE

- Revised Consumer Protection Code (CPC) takes effect, following 12-month lead-in; firms must ensure full implementation.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]

H1 2026

- CBI consultation on new Regulatory Impact Assessment (RIA) Framework.[https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers][https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf]

Summer 2027

- Anti-Money Laundering Authority (AMLA) single rulebook implementation, influencing financial crime priorities.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]

Compliance Impact

Urgency: High – This outlook directly previews intensified 2026 supervision, with operational/cyber resilience and consumer protection as "key concerns" likely triggering unannounced inspections and enforcement. Firms risk findings on outdated resilience testing or CPC gaps, especially amid elevated risks; proactive alignment now prevents remediation costs and sanctions, given CBI's efficiency roadmap and international...

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Consumer Protection / Conduct Technology & Cyber

BankAsset ManagerAll Firms

Payments & E-Money Crypto & Digital Assets Banking & Credit

🇬🇧 FCA policy_statement medium

February 26th 2026

Payments Vision Delivery Committee publishes Payments Forward Plan

The Payments Vision Delivery Committee (the Committee) has published the Payments Forward Plan (the Plan). Read the Plan on GOV.UKThe Committee comprises:HM TreasuryBank of EnglandFinancial Conduct AuthorityPayment Systems RegulatorThe Plan sets out upcoming initiatives across retail and wholesale payments, including elements of digital assets. Recent publications on open banking, stablecoins and contactless limits, alongside the initiatives in the Plan, show the high level of activity across...

AI Analysis

The Payments Vision Delivery Committee—comprising HM Treasury, Bank of England, FCA, and Payment Systems Regulator—has published the **Payments Forward Plan**, a three-year regulatory roadmap for retail, wholesale payments, and digital assets, aligning with the UK's National Payments Vision for a trusted, innovative ecosystem. This matters for compliance teams as it provides sequencing and milestones for multiple initiatives, enabling proactive planning amid high regulatory activity, including PSR consolidation into FCA and infrastructure upgrades. It signals coordinated efforts to boost competition, resilience, and innovation while minimizing sector capacity strain.[FCA publication]

What Changed

No immediate binding regulatory changes are imposed by the Plan itself; it is a forward-looking roadmap outlining planned initiatives rather than new rules. Key elements include:
Modernisation of payments framework: Consolidation of PSR into FCA, with HMT consultation response in Q1 2026; data/operational enhancements to Faster Payments and Bacs by end-2026.
Infrastructure upgrades: Short-term resilience improvements to Faster Payments and Bacs (end-2026); exploration of regulated stablecoins for on-chain settlement (H1 2026).
Safeguarding enhancements: FCA Supplementary Regime effective May 2026, with engagement Jan-Apr 2026.
Standards and open banking: Industry input on standards body (Feb-Mar 2026 assessment); HMT Data (Use and Access) Act SI in Q4 2026.

Suggested Considerations

Review the full Plan on GOV.UK (https://assets.publishing.service.gov.uk/media/699f2bc6c497bac082bc76bc/Payments_Forward_Plan_.pdf) and map initiatives to your firm's operations, prioritizing safeguarding, infrastructure, and stablecoins.
Engage proactively: Provide FCA views on standards body (by Feb 2026); participate in Jan-Apr 2026 safeguarding engagement; prepare for VRP rollout (live payments expected Q1 2026).
Stablecoin firms: Submit sandbox applications by 18 Jan 2026.
Monitor and plan: Track Regulatory Initiatives Grid for 2027; assess capacity for sequenced initiatives; ensure compliance readiness for May 2026 safeguarding rules and end-2026 infrastructure changes.
Internal audit: Evaluate current adherence to PSRs/EMRs, especially safeguarding, ahead of consolidation.

Key Dates

Q1 2026

HMT consultation response on PSR consolidation into FCA

Spring 2026

HMT update on Consumer Credit Act reform

18 January 2026 DEADLINE

Deadline for stablecoin issuers to apply to FCA regulatory sandbox; (related push for innovation)

May 2026

FCA Supplementary Regime for safeguarding comes into force

H1 2026

Bank/FCA exploration of regulated stablecoins for on-chain settlement

Compliance Impact

Urgency: Medium. This is a planning document, not enforceable rules, but its milestones trigger near-term actions (e.g., Q1 2026 engagements, May 2026 safeguarding). It matters because it coordinates high-activity areas like PSR-FCA merger and stablecoins, reducing surprises but demanding resource allocation for innovation/resilience amid sector capacity constraints. Firms delaying review risk missing input opportunities or readiness gaps, especially with VRP/stablecoin momentum.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Technology & Cyber Reporting & Disclosure

Payment ProviderFintechBank

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

February 26th 2026

Directive (EU) 2026/470 of the European Parliament and of the Council of 24 February 2026

amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464 and (EU) 2024/1760 as regards certain corporate sustainability reporting requirements and certain corporate sustainability due diligence requirements

Sectors:

Topics:

ESG Reporting & Disclosure Authorisation & Licensing

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇭🇰 SFC News high

February 26th 2026

SFC bans Andy Lau Ka Ho for life

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Broker DealerWealth ManagerBank

🇦🇺 ASIC News high

February 26th 2026

ASIC cancels AFS licence of Private Wealth Pty Ltd

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

Wealth Manager

Banking & Credit Investment Management Insurance & Pensions

🇸🇬 MAS News medium

February 26th 2026

Reply to COS Cuts on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities

Reply at Committee of Supply 2026 on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Operational Resilience / Outsourcing

BankWealth ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News medium

February 26th 2026

Notice of Amendments to Legislation: February 2026

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News medium

February 25th 2026

Councils,The Expert Panel on the Revision of the Corporate Governance Code (2nd meeting) Material

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerBroker Dealer

🇸🇦 SAMA News low

February 25th 2026

SAMA Announces Opening of Applications for “Saudi Economists” Track Under SPP

Sectors:

Topics:

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇪🇺 ESMA Consultation high

February 25th 2026

The EBA and ESMA consult on revised suitability assessment requirements for banks and investment firms

The EBA and ESMA consult on revised suitability assessment requirements for banks and investment firms 25 February 2026 Investor protection The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today launched a consultation on the revised joint guidelines on the assessment of the suitability of members of the management body and key function holders . The revised guidelines form part of a broader package designed to harmonise suitability assessments and...

AI Analysis

The EBA and ESMA have launched a consultation on revised joint guidelines updating suitability assessments for management body members and key function holders in banks and investment firms, incorporating new requirements from the revised CRD and MiFID II to enhance harmonization and supervisory convergence. This matters for compliance professionals as it introduces mandatory assessments for additional roles, strengthens AML/CFT links, and includes simplifications to reduce burdens, potentially impacting governance processes once finalized and replacing the 2021 guidelines.

What Changed

- Incorporation of revised CRD requirements for large institutions, including ex-ante applications where authorities perform ex-post assessments, and mandatory suitability assessments for key roles...
Expanded application to CRD-covered entities and MiFID II investment firms, with further specifications for third-country branches.
Strengthened integration with AML/CFT framework, providing guidance on identifying reasonable grounds to suspect money laundering or terrorist financing risks during assessments.
Introduction of targeted simplifications to streamline processes, reduce administrative burdens, and offer greater flexibility/clarity for institutions and supervisors.
Parallel EBA consultation on RTS specifying standardized documentation (e.g., suitability questionnaires, CVs, internal assessments) for large institutions to ensure consistent submissions.

Suggested Considerations

Assess current suitability processes against new requirements (e.g., ex-ante applications, AML/CFT checks, third-country branch specs) and prepare for mandatory assessments of additional roles like CFOs.
For large institutions, evaluate EBA RTS on documentation and align internal templates (e.g., suitability questionnaires, CVs).
Participate in public hearings on 15 April 2026 if relevant.
Plan governance updates, including ongoing monitoring of collective/individual suitability and corrective measures.

Key Dates

15 April 2026, 14:00

15:30; - Public hearing on joint guidelines

15 April 2026, 15:30

16:30; - Public hearing on EBA RTS

25 May 2026 DEADLINE

- Deadline for submitting comments on joint guidelines and EBA RTS

Post

25 May 2026; - EBA publishes all contributions (unless requested otherwise)

TBD (post

consultation); - Revised guidelines enter into force, repealing 2021 guidelines

Compliance Impact

Urgency: High - As a consultation launched today (25 February 2026), firms have ~3 months to engage, but final guidelines will repeal existing ones, mandating process updates for core governance/AML functions in banks and investment firms; delays risk non-compliance with harmonized EU standards, especially for large institutions facing RTS on documentation. Matters due to expanded scope (e.g., CFOs, third-country branches) and AML ties, amplifying fit-and-proper regime enforcement amid supervisory convergence push.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance AML / Financial Crime Prudential / Capital Requirements

BankBroker DealerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

February 25th 2026

Identity fraud against Ultramarin Capital GmbH, Munich: BaFin warns consumers about the website ultramarin-capital(.)com

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website ultramarin-capital(.)com. BaFin suspects the unknown operators of the website of offering consumers financial and investment services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning high

February 25th 2026

Warning concerning the fraudulent activities carried out by Aisbierg Ennerstetzung Bank

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement critical

February 25th 2026

Aktualisierte Sanktionsmeldung: Russland

AI Analysis

On February 23, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 8 of the Ukraine Sanctions Ordinance (SR 946.231.176.72), with changes taking effect on February 24, 2026 at 11:00 PM UTC. This represents the latest iteration of Switzerland's Russia sanctions regime, requiring financial intermediaries to immediately implement new prohibitions, freeze assets of designated persons, and report affected business relationships to SECO—with mandatory additional due diligence under anti-money laundering law if suspicions cannot be resolved.

What Changed

The February 2026 update to Annex 8 of the Ukraine Sanctions Ordinance introduces modifications to Switzerland's designated persons and entities list related to Russia sanctions.
22 natural persons and 42 companies/organizations subject to asset freezes and supply prohibitions
116 vessels (primarily tankers in Russia's shadow fleet circumventing oil price caps) subject to purchase, sale, and service prohibitions
45 companies in third countries subject to stricter export controls targeting critical goods for Russia's military-industrial complex
5 Russian banks and 4 foreign branches subject to transaction prohibitions due to use of Russian payment systems

Suggested Considerations

*Implement all prohibitions specified in updated Annex 8 across all business lines and customer relationships
*Freeze assets of all newly designated natural persons and entities; block transactions with designated entities
*Report to SECO all affected business relationships within required timeframes, documenting:
Customer identification and beneficial ownership
Transaction history with designated parties

Key Dates

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

February 25th 2026

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning high

February 24th 2026

Warning concerning the website www.capman-holding.com

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Payments & E-Money Consumer Credit

🇺🇸 SEC Enforcement high

February 24th 2026

SEC’s Division of Enforcement Announces Updates to Enforcement Manual

The Securities and Exchange Commission’s Division of Enforcement today announced significant updates to its Enforcement Manual. These updates underscore the Commission’s ongoing commitment to fairness, transparency, and efficiency in the investigations…

AI Analysis

The SEC's Division of Enforcement announced updates to its Enforcement Manual on February 24, 2026, focusing on enhancing fairness, transparency, and efficiency in investigations through standardized procedures like the Wells process and settlement considerations. These changes, the first major revisions since 2017, introduce uniform timelines and best practices to streamline resolutions and improve dialogue with investigated parties. Compliance professionals should prioritize this as it directly affects how firms respond to SEC inquiries, potentially accelerating outcomes and reducing uncertainties in enforcement actions.

What Changed

The updates target investigative and enforcement procedures for greater consistency:
Uniform Wells process: Recipients of a Wells notice receive four weeks to submit responses; Wells meetings are scheduled within four weeks of submission and include senior Division leadership.
Simultaneous settlement and waiver consideration: Restores practice allowing settling parties to request Commission waivers from collateral consequences (e.g., disqualifications) alongside settlement...
Additional enhancements: Details framework for evaluating cooperation (including civil penalty impacts); promotes internal collaboration; updates formal order processes, criminal referrals, and...

Suggested Considerations

Review the updated Enforcement Manual (https://www.sec.gov/files/enforcementmanual.pdf) and train compliance/in-house legal teams on new Wells timelines and submission guidance.
Update internal policies for responding to Wells notices: Prepare submissions within four weeks, focusing on elements staff find "most helpful" (e.g., detailed facts, legal analysis).
For settlements, incorporate simultaneous waiver requests in offers to leverage restored process and mitigate collateral impacts.
Enhance cooperation strategies per new evaluation framework to potentially reduce civil penalties; document internal collaboration for enforcement interactions.
Monitor annual Manual reviews via SEC Division of Enforcement page (https://www.sec.gov/about/divisions-offices/division-enforcement).

Key Dates

AI Analysis

The FCA has signed a Memorandum of Understanding (MoU) with the newly established Independent Football Regulator (IFR) to define cooperation on regulating intersections between football clubs and financial services, such as ownership suitability, licensing, and financial sustainability. This matters for compliance professionals as it formalizes information sharing and joint oversight, potentially impacting firms involved in football-related financing, investments, or consumer credit products tied to sports. It supports the Football Governance Act 2025 framework, enhancing regulatory alignment where financial misconduct could affect club operations.[https://www.fca.org.uk/news/statements/mou-independent-football-regulator-fca]

What Changed

- Establishes a high-level framework of principles for cooperation between FCA and IFR, focusing on effective regulation at the football-financial services nexus.
Outlines how the organizations will work together, including information sharing on matters like club owners' financial dealings, licensing compliance, and enforcement where financial services...
Builds on prior MoUs (e.g., FCA-UKGC models) by addressing regulatory overlaps, with IFR gaining powers for investigations, enforcement sanctions, and revenue distribution resolutions under the...

Suggested Considerations

Review and map exposures: Firms should assess football-related client portfolios for IFR overlap (e.g., loans to clubs, owner financing) and prepare for dual FCA-IFR scrutiny.
Enhance information sharing protocols: Update compliance policies to respond promptly to IFR requests for data on regulated activities (e.g., under IFR's clause 65 powers), mirroring FCA's existing MoU frameworks.[https://www.fca.org.uk/news/statements/mou-independent-football-regulator-fca]
Incorporate IFR factors in due diligence: For owner suitability, align with IFR tests (fit/proper custodians, resource adequacy); flag potential divestment risks in advisory services.
Monitor joint enforcement: Participate in escalation procedures if disputes arise, ensuring internal records of regulatory remit discussions.

Key Dates

2025

Football Governance Act 2025 enactment; Establishes IFR statutory powers, including provisional/full club licensing from this date onward

Ongoing

IFR licensing rollout; Clubs transition from provisional to full licenses once threshold conditions (e.g., financial resources, owner suitability) met; no fixed end-date

Compliance Impact

Urgency: Medium – This MoU does not impose new binding rules or deadlines but signals heightened cross-regulator focus on football finances post-Football Governance Act 2025, risking enforcement overlaps or info requests. It matters for firms with niche exposures (e.g., sports financing) to avoid gaps in owner due diligence or financial promotions, potentially amplifying AML/conduct risks amid IFR's divestment powers.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance Reporting & Disclosure

BankFintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

February 24th 2026

Polygreen Establishes Regional Holding Company In Adgm

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Payments & E-Money Consumer Credit

🇸🇬 MAS News low

February 24th 2026

Written reply to Parliamentary Question on Circulation of Five-Cent Coins

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankPayment ProviderAll Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News medium

February 23rd 2026

CFTC Chairman Selig Announces Senior Staff Appointments

No description available.

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Senior Managers / Governance

BankFintechCrypto Exchange

Banking & Credit Consumer Credit Mortgage & Lending

🇪🇺 ESMA Consultation high

February 23rd 2026

ESMA consults on guarantees as CCP collateral and on certain aspects of CCP investment policy

ESMA consults on guarantees as CCP collateral and on certain aspects of CCP investment policy 23 February 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a public consultation following the review of the European Market Infrastructure Regulation (EMIR 3). ESMA is encouraging all interested stakeholders, including non-financial counterparties (NFCs), to share their views about: the relevant conditions under which ...

AI Analysis

ESMA has launched a public consultation under EMIR 3 to gather stakeholder input on conditions for CCPs accepting public guarantees, public bank guarantees, and commercial bank guarantees as collateral, eligibility of debt instruments for CCP investment policies, and secured arrangements for emission allowances as margins or default fund contributions. This matters because it permanently broadens eligible collateral types and extends access to NFC clients, enhancing EU CCP efficiency, competitiveness, and accessibility amid liquidity pressures in energy and other markets.

What Changed

- Permanent expansion of eligible CCP collateral to include public guarantees, public bank guarantees, and commercial bank guarantees, with specified conditions for acceptance.
Criteria for deeming debt instruments as eligible financial instruments under CCP investment policies.
Requirements for highly secured arrangements to deposit emission allowances as margins or default fund contributions. These build on EMIR 3's measures to broaden collateral scope and entity coverage,...

Suggested Considerations

Review and Respond to Consultation: CCPs, clearing members, NFCs, and clients should analyze the paper, prepare responses to Annex 1 questions by 30 April 2026, and submit online; indicate confidentiality if needed.
Assess Internal Policies: CCPs must evaluate current collateral, investment, and emission allowance frameworks against proposed conditions; clearing members/NFCs should model impacts on liquidity and margin posting.
Monitor Developments: Track ESMA's final report and RTS submission; prepare for potential supervisory expectations on guarantee acceptance and debt instrument eligibility post-2026.
Engage with Industry: Join associations like EACH for coordinated feedback on risk-based approaches and proportionality.

Key Dates

What Changed

- Investment permission and cap increase: Credit unions can now invest in CUSOs using own capital, with the cap raised from 5% to 7.5% of total capital across all CUSOs (clarifications added on...
Expanded CUSO scope: CUSOs can now serve other UK-regulated mutuals (with Part 4A permission) beyond just credit unions; partnerships with non-credit unions permitted as owners, subject to safeguards.
Supervisory expectations in SS2/23: New chapter requires due diligence, risk analysis, limited liability to investment amount, legal/operational separation, conflict of interest policies, and...
Other updates: Chapter 17 of SS2/23 amended due to deletion of SS20/15; six-month implementation window for SS2/23 CUSO expectations.

Suggested Considerations

Review and update policies: Credit unions must conduct due diligence/risk assessments before any CUSO investment/use; implement conflict of interest policies, especially for non-credit union partnerships.
Ensure structural safeguards: Limit liability to investment amount; maintain legal/operational separation between credit union and CUSO; monitor aggregate investments ≤7.5% of capital.
Governance alignment: Decisions must prioritize member benefits per legislative objects; update internal investment rules to comply with amended PRA Rulebook (Credit Unions Part).
Implementation planning: Within six months, integrate SS2/23 expectations into operations; non-engaging credit unions need no action but should monitor for opportunities.
Reporting/oversight: Prepare for PRA supervision on CUSO risks; consider CBA updates if significantly impacting mutuals.

Key Dates

24 October 2025 DEADLINE

- Consultation response deadline for CP13/25

20 February 2026

- Publication date of PS5/26 (final policy)

~20 August 2026 DEADLINE

- Implementation deadline for SS2/23 CUSO expectations (six months from PS5/26 publication)

Compliance Impact

Urgency: High – Credit unions eyeing CUSOs for growth (e.g., shared services) must act promptly within the six-month window to avoid supervisory breaches, as this expands opportunities but introduces new prudential risks (e.g., ownership misalignment, capital exposure). Non-compliance risks heightened PRA scrutiny, especially post-PS26/25 mutual sector review; benefits justify costs only for opt-in firms, but proactive preparation ensures safety/soundness.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankFintechAll Firms

Capital Markets & Trading Banking & Credit Investment Management

🇪🇺 ESMA Guidance high

February 20th 2026

ESMA publishes a supervisory briefing on the AAR representativeness obligation

ESMA publishes a supervisory briefing on the AAR representativeness obligation 20 February 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published a supervisory briefing on the representativeness obligation linked to the active account requirement (AAR). The briefing sets out ESMA’s supervisory expectations for how counterparties should comply with and report on the AAR representativeness obligation. It provides guidanc...

AI Analysis

ESMA has published supervisory guidance clarifying how counterparties must comply with the **representativeness obligation** under the Active Account Requirement (AAR), a key component of EMIR 3 that mandates EU counterparties maintain active accounts at EU central counterparties (CCPs) and clear representative volumes of derivatives trades. This briefing is critical because market participants and regulators have held conflicting interpretations of the representativeness requirement, creating compliance uncertainty that this guidance now resolves.

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Prudential / Capital Requirements

Asset ManagerBroker DealerBank

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇩🇪 BaFin Warning high

February 20th 2026

Identity Fraud: BaFin warns of unfair job offer on the website vios-beratung(.)de

The financial supervisory authority BaFin is warning about a dubious job advertisement on the website vios-beratung(.)de which allegedly operates from the VIOS Consulting GmbH, Bielefeld. However, the offers on this site do not come from the VIOS Consulting GmbH or its employees. This is identity fraud. Unknown operators are advertising private individuals with seemingly lucrative job opportunities that involve opening accounts for testing purposes and transferring money or cryptocurrencies a...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

February 20th 2026

Tethys Investment Alliance: BaFin warns against offers in WhatsApp groups and indicates identity fraud at the expense of Tethys Investment Management LLC

The German Financial Supervisory Authority (BaFin) warns against the WhatsApp groups „Tethys Investment Alliance 771“ and „Tethys Investment Alliance-S62“, the websites „tethys-alliance.de“ and „tethys-uberblick.com“ as well as the apps „QVTCoinese“ und „QVTCoinese Pro“, which are allegedly operated by the Baku/Boston/Dubai-based company Tethys Investment Management LLC. In the WhatsApp groups consumers are enticed to trade financial products via the respective apps. It is suspected that the ...

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankWealth ManagerFintech

🇪🇺 ECB Enforcement high

February 19th 2026

ECB sanctions J.P. Morgan for misreporting capital requirements

No description available.

AI Analysis

The ECB imposed €12.18 million in penalties on J.P. Morgan SE on 19 February 2026 for misreporting risk-weighted assets (RWAs) from 2019-2024 due to misclassification of corporate exposures (15 quarters) and improper exclusion of transactions in credit valuation adjustment (CVA) risk calculations (21 quarters), both attributed to serious negligence and internal control failures. This enforcement action underscores the ECB's focus on accurate prudential reporting, as underreported RWAs led to overstated capital ratios, distorting supervisory oversight of the bank's risk profile and capital adequacy. Compliance teams must prioritize RWA calculation integrity to avoid similar "severe" and "moderately severe" sanctions under the ECB's penalty guide.

What Changed

This is an enforcement action, not a new rule change, but it reinforces existing requirements under the Capital Requirements Regulation (CRR) for accurate RWA calculations, including proper classification of corporate exposures for credit risk and inclusion of all relevant transactions in CVA risk (which measures counterparty default risk in derivatives). The ECB applied its Guide to the method of setting administrative pecuniary penalties, categorizing breaches as "severe" (credit risk) and "moderately severe" (CVA risk), based on duration, negligence, and impact on supervisory transparency.

Suggested Considerations

Conduct immediate RWA process reviews: Audit corporate exposure classifications and CVA calculations for misreporting risks, ensuring compliance with CRR risk weights.
Strengthen internal controls: Implement robust validation mechanisms to detect errors timely, addressing "serious negligence" gaps highlighted by ECB.
Enhance reporting accuracy: Recalibrate models and data inputs for quarterly ECB submissions; test for overstatement of capital ratios via underreported RWAs.
Monitor ECB sanctions page (https://www.bankingsupervision.europa.eu/banking/supervisory-sanctions/html/index.en.html) for updates and self-assess against penalty guide severity categories.
J.P. Morgan specifically: Pay €12.18 million and consider legal challenge under Article 263 TFEU.

Key Dates

2019

2024; - Period of breaches: 15 quarters of corporate exposure misclassification and 21 quarters of CVA transaction exclusions

19 February 2026

- ECB publishes decision imposing €12.18 million penalties on J.P. Morgan SE

Within time limits under Article 263 TFEU DEADLINE

- Deadline for J.P. Morgan to challenge the decision before the Court of Justice of the European Union (typically 2 months from notification)

Compliance Impact

Urgency: High – This recent (published yesterday) ECB action against a major global bank signals intensified enforcement on RWA reporting, with penalties scaling by breach severity and duration; firms with derivatives or corporate lending books face elevated remediation pressure to prevent distorted capital views and fines up to "extremely severe" levels. It matters because RWAs directly underpin capital requirements, and control failures erode supervisory trust, potentially triggering broader SSM investigations.

References

AI-generated analysis. May contain errors or omissions — verify with the original ECB source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Investment Management

🇫🇷 AMF News high

February 19th 2026

The Casino case: the Paris Tribunal Correctionnel ruling marks the end of a market abuse case in which the AMF has been heavily involved

MAR Executive & other private individuals Journalists Listed companies and issuers The Casino case: the Paris Tribunal Correctionnel ruling marks the end of a market abuse case in which the AMF has been heavily involved

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

February 19th 2026

Frank Elderson: Interview with Bloomberg

No description available.

Sectors:

Topics:

Prudential / Capital Requirements ESG Reporting & Disclosure

BankAsset ManagerWealth Manager

Capital Markets & Trading Investment Management Banking & Credit

🇪🇺 ESMA Consultation high

February 19th 2026

ESMA publishes list of supplementary deferrals for sovereign bonds

ESMA publishes list of supplementary deferrals for sovereign bonds 19 February 2026 Post Trading The European Securities and Markets Authority (ESMA), together with National Competent Authorities (NCAs), has agreed supplementary deferrals that may be applied on top of the standard Markets in Financial Instruments Regulation (MiFIR) deferral regime for sovereign bonds. ESMA and all NCAs, except the National Bank of Slovakia (NBS), have decided to allow the following supplementary deferrals: fo...

AI Analysis

ESMA has authorized **supplementary deferrals for sovereign bond post-trade transparency**, allowing market participants to omit transaction volumes from immediate publication for medium-sized trades on liquid bonds, with full disclosure required by end-of-day. This measure balances market transparency with liquidity protection in EU sovereign bond markets, effective May 4, 2026, with a compressed implementation timeline requiring immediate compliance planning.

What Changed

Scope of Supplementary Deferrals The decision permits volume omission deferrals for sovereign bonds classified as Group 1, Category 1 instruments (medium-size, liquid instruments) under MiFIR's post-trade transparency framework. Market operators and investment firms may defer publication of transaction volumes until end-of-trading-day, rather than the standard 15-minute deferral period. Regulatory Rationale ESMA determined that these deferrals are necessary to account for specific characteristics of sovereign bond markets, particularly protecting market liquidity and ensuring orderly price...

Suggested Considerations

*Immediate Compliance Preparation (by May 4, 2026)
*System Configuration: Trading venues and investment firms must update post-trade reporting systems to implement volume omission deferrals for Group 1, Category 1 sovereign bonds, with automated end-of-day publication triggers.
*Instrument Classification: Establish processes to correctly identify which sovereign bonds qualify as Group 1, Category 1 under Commission Delegated Regulation (EU) 2017/583 (RTS 2), referencing Table 2.6 of Annex III.
*APA Coordination: Approved Publication Arrangements must configure deferral management services to apply volume omission rules consistently across all reporting firms, with fallback procedures for system failures.
*Policy Documentation: Update post-trade transparency policies, procedures, and client disclosures to reflect the new deferral regime and explain the timing of volume publication.

Key Dates

February 17, 2026

- ESMA Board of Supervisors adopts decision

February 19, 2026

- ESMA publishes supplementary deferrals list

March 2, 2026

- Original implementation date (subsequently extended)

May 4, 2026

- **Effective date for supplementary deferrals application**

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Market Abuse / Surveillance Operational Resilience / Outsourcing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

February 19th 2026

Dukas-Global: BaFin warns consumers about the website dukas-global(.)com

The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Dukas-Global and the services it is offering. BaFin suspects the unknown operators of the website dukas-global(.)com of offering consumers financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

BankFintechCrypto Exchange

🇩🇪 BaFin News high

February 19th 2026

BaFin warns consumers about the website referral.mnlo(.)app

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website referral.mnlo(.)app. BaFin has information that Next Level Church Global Hub, Inc., New Orleans, USA, is using this website to offer banking business and cryptoasset services without the required authorisation.

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 PRA Consultation high

February 19th 2026

CP3/26 – PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime

Consultation paper 3/26

AI Analysis

The PRA's CP3/26 proposes rule amendments to align its Rulebook with HM Treasury's (HMT) Overseas Prudential Requirements Regime (OPRR), which restates and modifies existing CRR equivalence provisions for treating overseas entities' exposures as preferential "exposures to institutions." This matters for **PRA-authorised firms** as it clarifies capital treatment for cross-border exposures, reduces interpretive burdens, and ensures consistency post-Brexit, advancing the PRA's safety and soundness objective while facilitating HMT designations.

What Changed

- Credit Risk Standardised Approach (SA): Exposures to overseas credit institutions, investment firms, or exchanges treated as "exposures to institutions" only if from UK or HMT-designated OPRR...
IRB Approach: Preserves CRR Article 107(3) effect by aligning exposure class allocation with SA's updated "exposures to institutions" concept.
Large Exposures: Amends Rule 1.3 definition of "institution" to limit preferential treatment to UK or OPRR-designated overseas entities.
General Scope: Applies changes across PRA Rulebook for consistency; not relevant to credit unions or third-country branches.

Suggested Considerations

Review and respond to consultation by 2 April 2026, indicating consent for name/organisation publication and any confidentiality claims.
Assess current exposures to overseas institutions/exchanges against proposed OPRR criteria; model impacts on capital requirements under SA, IRB, and large exposures rules.
Update internal policies on exposure classification once final rules published; monitor HMT OPRR designations for affected jurisdictions.
Indicate response as individual or organisational; personal data handled per Bank of England privacy notice.

Key Dates

Thursday 2 April 2026 DEADLINE

- Consultation response deadline; submit to CP3_26@bankofengland.co.uk or PRA at 20 Moorgate, London EC2R 6DA

Compliance Impact

Urgency: High – Firms must engage promptly on consultation (deadline ~10 weeks from publication) to influence outcomes; changes clarify but could increase capital for non-designated overseas exposures, impacting safety/soundness and competitiveness. Failure to adapt risks non-compliance with updated Rulebook and higher prudential burdens.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

February 19th 2026

Aktualisierte Sanktionsmeldung: Sudan

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.

AI Analysis

The Swiss Federal Department for Economic Affairs, Education and Research (WBF) has amended Annex 2 of the Ordinance of 25 May 2005 on Measures against Sudan (SR 946.231.18), updating Switzerland's sanctions list in alignment with UN and international developments. This matters for Swiss financial institutions as it imposes immediate asset freeze and reporting obligations on newly designated individuals and entities linked to threats against Sudan's peace and security, including RSF support and mercenary activities. Compliance teams must screen and act swiftly to avoid FINMA enforcement under supervisory law.

What Changed

- Amendment to Annex 2 of SR 946.231.18 by WBF, adding seven individuals to the Sudan sanctions list, mirroring recent UN-aligned updates (e.g., UK additions on 5 February 2026 for persons like...
Sanctions include asset freezes, prohibitions on dealings with designated persons' funds or economic resources, and mandatory reporting to authorities, consistent with Switzerland's implementation of...
Updates reflect global coordination, with UNSC Resolution 2791 (2025) extending the Sudan regime to 12 October 2026, emphasizing targeted measures against human rights violations, humanitarian...

Suggested Considerations

Immediate screening: Review client databases, transactions, and assets against updated Annex 2 for the seven new designations; freeze any matching funds or resources without delay.
Reporting: Notify FINMA or relevant authorities (e.g., State Secretariat for Economic Affairs SECO) of any holdings or suspicions; relevant firms must report to OFSI equivalents in Switzerland.
No dealings: Cease all transactions, payments, or benefits to/from designated persons unless licensed; maintain records for 10+ years per Embargo Act.
Controls update: Enhance sanctions screening tools, train staff, and audit AML/sanctions programs for Sudan-specific risks like RSF financing or mercenaries.
Licensing check: Apply for exceptions via SECO if needed for humanitarian or existing obligations.

Key Dates

5 February 2026

- UK adds six individuals to Sudan sanctions list (e.g., SUD0026 to SUD0031), informing Swiss alignment

18 February 2026

- Switzerland publicly notes addition of seven individuals to Sudan list via ACAMS report

19 February 2026 DEADLINE

- WBF amends Annex 2 of SR 946.231.18, effective immediately for compliance (publication date)

12 March 2026 DEADLINE

- UN Panel of Experts interim report due on Sudan sanctions implementation

12 October 2026

- UNSC Sudan sanctions regime extension expires unless renewed

Compliance Impact

Urgency: High - Immediate asset freeze obligations apply from publication (19 February 2026), with FINMA's enforcement powers (coercive measures under administrative law) risking fines, reputational damage, or license revocation for non-compliance. This escalates amid ongoing Sudan conflict, UN extensions, and multi-jurisdictional alignment, heightening cross-border transaction risks.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Payments & E-Money

🇨🇭 FINMA News medium

February 19th 2026

It is a pleasure to be here in Oxford 1 While I’m aware that this is a school of government and I’m a central banker, the two are inextricably linked. Societies and indeed economies are shaped by their institutions, specifically the legal, social, cultural, formal and informal norms that impact the way citizens interact with each other. Successful institutions are those that are trusted by the societies that created them and for which they ultimately serve. Today I am going to resist the oppo...

AI Analysis

Governor Gabriel Makhlouf's speech at the Blavatnik School of Government addresses central bank independence as a foundational institutional mechanism for delivering price stability and economic prosperity, rather than as a shield from accountability. The speech is not a regulatory enforcement action or new requirement, but rather a governance statement clarifying the Central Bank of Ireland's institutional philosophy on independence, credibility, and accountability—matters that directly affect how the CBI exercises supervisory discretion over regulated firms.

What Changed

This is not a regulatory change document but a governance clarification with compliance implications:
Reframing of independence: Central bank independence is characterized as an "anchor" enabling long-term decision-making rather than isolation from society.
Credibility framework: Credibility depends on competence, engagement, coherence, and public trust—not institutional distance alone.
Accountability emphasis: Independence requires continuous dialogue with society and other economic governance institutions; it "does not mean isolation."
Historical validation: The speech references the 1960s-1970s macroeconomic instability under political pressure versus post-pandemic effectiveness of credible central banks in controlling inflation.

Suggested Considerations

*Understand CBI decision-making philosophy: Recognize that CBI supervisory decisions are grounded in long-term economic stability objectives, not short-term political cycles.
*Align governance with credibility principles: The speech identifies four credibility pillars—competence, engagement, coherence, and public trust. Regulated firms should ensure their governance frameworks reflect these principles in their own operations.
*Monitor 2026 supervisory priorities: The speech references CBI's published 2026 Regulatory and Supervisory Priorities, which include maintaining resilience to geopolitical risks, securing consumer and investor interests, and delivering new responsibilities under Access to Cash legislation.

Key Dates

Second half 2026

- Ireland assumes EU Council Presidency; CBI will support government during this period

10 February 2026

- CBI published its 2026 Regulatory and Supervisory Priorities, which establish the operational framework within which this governance philosophy applies

18 February 2026

- This speech delivered, reinforcing institutional independence principles

Compliance Impact

Urgency: MEDIUM

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Operational Resilience / Outsourcing Prudential / Capital Requirements

BankAsset ManagerPayment Provider

🇱🇺 CSSF Guidance high

February 18th 2026

Circular CSSF 26/907 (only in French)

Exigences applicables au réviseur d’entreprises agréé spécial auprès des établissements de crédit émetteurs de lettres de gage

AI Analysis

Circular CSSF 26/907, published on February 18, 2026, establishes requirements for **approved special statutory auditors (réviseurs d'entreprises agréés spéciaux) serving credit institutions that issue mortgage bonds (lettres de gage)**. This circular formalizes the governance and audit standards applicable to a specialized auditor role within Luxembourg's credit institution framework, ensuring enhanced oversight of entities engaged in mortgage bond issuance.

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Senior Managers / Governance Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning high

February 18th 2026

Warning concerning the website www.qatari.xyz

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News low

February 18th 2026

CSSF Newsletter No 301 – February 2026

No description available.

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

February 18th 2026

SSM Calendar Claude Wampach – 11/2025

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerWealth Manager

🇩🇪 BaFin News high

February 18th 2026

Omenyxgroup(.)com: BaFin warns consumers about website

The German Financial Supervisory Authority (BaFin) warns against the website omenyxgroup(.)com, which entices consumers to trade crypto assets. According to information available to BaFin, the unknown operators of the website are offering crypto asset services without the required authorisation.

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Crypto ExchangeFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

February 18th 2026

ICG GEF: BaFin warns against identity fraud in WhatsApp groups

The Federal Financial Supervisory Authority BaFin warns against offers in WhatsApp groups, which are allegedly operated by Intermediate Capital Group (ICG). According to information available to BaFin, recommendations for the purchase of financial instruments and cryptocurrencies, which can allegedly be traded via ICG GEF app, are offered in various WhatsApp groups. The offers do not originate from ICG Europe S.à.r.l. - Frankfurt Branch or any other company belonging to Intermediate Capital G...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Payments & E-Money

🇱🇺 CSSF Guidance critical

February 18th 2026

Annex of Circular CSSF 22/822

1) high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed2) jurisdictions under increased monitoring of the FATFVersion of 17 February 2026

AI Analysis

The Annex of Circular CSSF 22/822 (Version of 17 February 2026) is Luxembourg's Commission de Surveillance du Secteur Financier's implementation guidance on FATF (Financial Action Task Force) designations of high-risk jurisdictions requiring enhanced due diligence and counter-measures, as well as jurisdictions under increased monitoring. This document is critical for Luxembourg-regulated financial institutions because it operationalizes international AML/CFT standards into binding compliance obligations, directly impacting customer acceptance, transaction monitoring, and correspondent banking relationships.

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin Speech high

February 18th 2026

Identity theft: BaFin warns against offers from the email address info[at]lgimeu(.)com

The Federal Financial Supervisory Authority BaFin warns against fixed-term deposit offers sent from the email address info[at]lgimeu(.)com. According to information available to BaFin, the unknown providers are conducting banking transactions without the required authorisation. The offers do not originate from LGIM Managers (Europe) Limited. This is a case of identity theft.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA News medium

February 18th 2026

Alain Girard to assume leadership of FINMA’s Banks division

The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Alain Girard as the new Head of its Banks division. The current Head of the Recovery and Resolution division will take up his new role on 1 April 2026. He succeeds Thomas Hirschi, who left FINMA at the end of August 2025. Simon Brönnimann, who oversaw the Banks division on an interim basis, will now assume leadership of the Recovery and Resolution division on an interim basis.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

February 18th 2026

ASIC commences new review of advice licensees that use lead generation services

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

Asset ManagerWealth ManagerBank

🇸🇦 SAMA News high

February 17th 2026

SAMA Seeks Public Consultation on Draft Rules Regulating Cash Center Management and Operation

Sectors:

Authorisation & Licensing Operational Resilience / Outsourcing

Topics:

BankPayment Provider

🇪🇺 ECB News low

February 17th 2026

ECB welcomes extension of Frank Elderson’s term as Vice-Chair of the Supervisory Board

No description available.

Sectors:

Prudential / Capital Requirements Authorisation & Licensing Senior Managers / Governance

Topics:

BankAll Firms

Banking & Credit Capital Markets & Trading Insurance & Pensions

🇬🇧 PRA Consultation high

February 17th 2026

CP2/26 – Reforms to securitisation requirements

Consultation paper 2/26

AI Analysis

CP2/26 is a PRA consultation paper proposing targeted reforms to UK securitisation rules to reduce prescriptiveness and burden while maintaining prudential soundness, building on recent CRR restatements. It matters for compliance professionals as it streamlines due diligence, risk retention, disclosures, and capital treatments, potentially lowering costs for PRA-authorised firms in the securitisation market amid Basel 3.1 implementation. These changes aim to enhance proportionality without compromising investor protection or oversight.

What Changed

The proposals amend PRA rules and supervisory guidance in the Securitisation Part of the PRA Rulebook, including:
Due diligence: Remove prescriptive verification of credit-granting criteria (Chapter 2 Article 9), risk retention (Chapter 2 Article 6 and Chapter 4), STS criteria, specific information availability,...
Risk retention: Introduce a new combined modality merging two existing ones.
Market disclosure (transparency): Streamline for all securitisations; amend underlying documentation, delete PRA templates (use revised FCA Handbook templates), disapply templates for investor...
Regulatory reporting: Disapply COREP C14.00/C14.01 for single-loan retail securitisations; introduce consistent non-performing exposure (NPE) definition.

Suggested Considerations

Review and respond: Analyse proposals against current operations; submit feedback by 18 May 2026 to CP2_26@bankofengland.co.uk, indicating confidentiality and publication consent.
Gap analysis: Assess due diligence processes, risk retention setups, disclosure templates, reporting (e.g., COREP), and capital models for resecuritisations/MGS loans; update for proportionality.
Coordinate with FCA: Align on shared templates/transparency (per FCA CP26/6); prepare for repository shift.
Policy updates: Revise internal policies, training, and systems for new risk retention modality, reduced verifications, and readability improvements post-final PS.
Monitor legislation: Track HM Treasury SI and PRA policy statement for final rules.

Key Dates

1 January 2026

- Related CRR/Solvency II restatement (PS12/25) already effective, preserving core securitisation requirements

18 May 2026 DEADLINE

- Consultation response deadline

1 January 2027

- Expected implementation aligning with Basel 3.1 and CRR restatement (PS3/26), with transitional arrangements to 2030

Post

SI (TBD); - Changes to repository requirements effective upon HM Treasury Statutory Instrument amending UK Securitisation Regulation 2024

Compliance Impact

Urgency: High – Proposals reduce burden (e.g., less prescriptive due diligence, streamlined disclosures) but require immediate review ahead of 18 May 2026 deadline and 1 January 2027 implementation, aligning with Basel 3.1. Non-response risks misaligned systems during CRR restatement transition; benefits include cost savings and proportionality, but firms must validate ongoing compliance with retained prudential standards.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankInsuranceAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

February 17th 2026

BaFin warns consumers about the series of platforms that claim: “The [platform name] label holds authorization in multiple global jurisdictions and stands as a reputable online brokerage for Forex and CFDs.”

The Federal Financial Supervisory Authority (BaFin) warns consumers about a series of similarly designed websites. According to information available to BaFin, the operators are providing banking business and/or financial services on these websites without the required authorisation. The operators of the website are not supervised by BaFin.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

February 17th 2026

ASIC cancels AFS licence of Superfast AM Pty Ltd

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Reporting & Disclosure

Asset ManagerWealth ManagerBroker Dealer

🇱🇺 CSSF News medium

February 17th 2026

DORA – Submission timeframe for register of information for third-country branches of credit institutions having their head office in a third country

No description available.

Sectors:

Reporting & Disclosure Operational Resilience / Outsourcing

Topics:

BankPayment Provider

Banking & Credit Capital Markets & Trading Investment Management

🇱🇺 CSSF News low

February 17th 2026

List of issuers of shares and issuers of sovereign debt (Updated)

For which the CSSF is the relevant competent authority under Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

🇨🇦 OSFI News

February 17th 2026

No description available.

AI Analysis

The ECB imposed a €7.55 million periodic penalty payment on Crédit Agricole for failing to complete a climate-related and environmental (C&E) risk materiality assessment by the May 31, 2024 deadline, marking the second enforcement action in the ECB's escalating shift from guidance to active enforcement on climate risk supervision. This enforcement demonstrates that the ECB is moving beyond symbolic warnings to substantial financial penalties, signaling that banks must treat climate risk identification and assessment as mandatory compliance obligations rather than discretionary best practices.

AI-generated analysis. May contain errors or omissions — verify with the original ECB source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements ESG Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News

February 13th 2026

Slides from Huw Pill’s fireside chat at Santander UK’s macroeconomic event

Slides by Huw Pill

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Warning high

February 13th 2026

Warning concerning the fraudulent activities carried out by Minea Global Finance SA

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇬🇧 BoE News medium

February 13th 2026

Minutes of the Market Participants Group meeting – 12 February 2026

Sectors:

Topics:

Prudential / Capital Requirements Market Abuse / Surveillance Reporting & Disclosure

BankAsset ManagerBroker Dealer

🇦🇺 ASIC News low

February 13th 2026

AML/CFT standardised data collection taking place in 2026

AI Analysis

The CSSF Circular Letter 2026-02-12 announces a standardized data collection exercise on AML/CFT for supervised entities, scheduled for 2026, aimed at enhancing regulatory oversight of money laundering and terrorist financing risks. This matters because it signals intensified CSSF scrutiny on AML/CFT compliance, requiring firms to prepare structured data submissions that could inform future supervisory actions, risk assessments, and enforcement. As part of broader CSSF AML/CFT initiatives, non-compliance risks fines or heightened inspections.

What Changed

- Introduction of standardized AML/CFT data collection: CSSF mandates uniform reporting formats for collecting data on AML/CFT risks, controls, and practices across supervised sectors, building on...
Alignment with ongoing AML/CFT enhancements: Complements recent governance-focused circulars (e.g., Circular 26/906 on central administration and risk management for payment/e-money institutions) by...
No explicit new obligations beyond preparation for data submission, but implies deeper integration of tax-related AML indicators and sub-sector risk updates, as seen in related CSSF activities.

Suggested Considerations

Assess and document AML/CFT data readiness: Inventory current risk assessments, transaction monitoring logs, KYC processes, SAR filings, and third-party oversight records in standardized formats; map to proportionality factors (e.g., transaction volumes, outsourcing).
Update governance and controls: Ensure compliance functions have independence, direct board reporting, and audit coverage of AML/CFT; test ICT resilience for monitoring continuity.
Conduct internal reviews: Perform gap analyses against Circular 26/906 (e.g., fund safeguarding, escalation protocols) and recent conference topics (e.g., terrorist financing, tax indicators); remediate deficiencies with board-approved plans.
Prepare for submission: Designate resources for data compilation; cooperate fully with CSSF/FIU requests, including transfer-of-funds information under EU 2015/847.
Engage auditors: Leverage approved auditors for validation of AML/CFT effectiveness ahead of collection.

Key Dates

2026 (exact date TBD) DEADLINE

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News medium

February 12th 2026

12 Feb 2026 Read more

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Operational Resilience / Outsourcing

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇸🇬 MAS News

February 12th 2026

Reply to Adjournment Motion on “An Industrial Policy in Finance” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 12 February 2026

Reply to Adjournment Motion on “An Industrial Policy in Finance” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 12 February 2026

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankAsset ManagerBroker Dealer

Banking & Credit Payments & E-Money Consumer Credit

🇸🇬 MAS News medium

February 12th 2026

Written reply to Parliamentary Question on Credit Card Fraud Liability and Dispute Resolution

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure

BankPayment ProviderAll Firms

🇸🇬 MAS News medium

February 12th 2026

We have signed an Exchange of Letters with the International Financial Services Centres Authority (IFSCA). IFSCA is the unified regulator for financial institutions operating in Gujarat International Finance Tec-City (GIFT City), India’s first international financial services centre.This agreement affirms both authorities’ commitment to develop our regulatory relationship.Download our letter (PDF)The letters set out the intention to share regulatory knowledge and best practice to support the ...

AI Analysis

The FCA has signed an Exchange of Letters with India's IFSCA, the regulator for GIFT City, to foster regulatory cooperation, knowledge sharing, and stronger links between UK financial markets and GIFT City. This matters for compliance professionals as it signals expanding cross-border ties, potentially easing market access and harmonizing standards for firms operating between the UK and India, amid the FCA's broader global outreach strategy. No binding rules are imposed, but it sets the stage for future alignment in areas like fintech and financial services.

What Changed

There are no direct regulatory changes or new requirements imposed by this Exchange of Letters. It is a non-binding agreement focused on:
Sharing regulatory knowledge and best practices.
Supporting financial services development in both jurisdictions.
Promoting links between GIFT City and UK markets. The letters affirm commitment to developing the regulatory relationship, with an additional step of posting an FCA Financial Services Attaché to the...

Suggested Considerations

binding nature. Recommended proactive steps for compliance teams:
Review and download the full Exchange of Letters (PDF available via FCA site) to understand shared priorities.
Assess current India/GIFT City exposures and prepare for potential future information-sharing requests or aligned standards.
Monitor FCA news for follow-up developments, such as joint guidance on fintech or market access https://www.fca.org.uk/news.
Engage with FCA international teams if planning cross-border activities in GIFT City.

Key Dates

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Insurance & Pensions

🇱🇺 CSSF Guidance high

February 11th 2026

Guidance for interpretation and resolution of CSSF error messages related to the submission of the DORA register

Guidance allowing financial entities to identify the National Competent Authority to which their register of information has to be submitted.

AI Analysis

This CSSF guidance document, published on 11 February 2026, provides detailed explanations and resolution steps for error messages encountered during the submission of the DORA Register of Information (RoI) via the eDesk portal, specifically for the 2026 submission cycle. It matters because it enables Luxembourg financial entities to ensure compliant submissions amid enhanced validation checks on more data fields, avoiding re-submission delays and supporting timely transmission to the ESAs by CSSF deadlines. Non-compliance risks supervisory scrutiny under DORA's ICT risk management framework.

What Changed

- Enhanced validation checks for the 2026 RoI submission: Applies ESA-defined checks (last updated April 2025) to more data fields to improve data quality, compared to prior cycles.
Specific error resolutions detailed, including requirements for LEI code communication to CSSF beforehand, correct reference date ('2025-12-31') in file naming, plain-CSV files in predefined .zip...
Mandatory inclusion of all tables (even empty) in FilingIndicators.csv set to 'true', with matching identification codes across parent-child records.
Builds on prior CSSF guides, emphasizing eDesk role "DORA Reporting" assignment and ESAs' technical standards. No new regulatory requirements under DORA itself; this refines technical submission...

Suggested Considerations

Assign "DORA Reporting" role in eDesk to dedicated employee(s) per user guide.
Communicate LEI code to CSSF line supervisor prior to first submission to enable upload.
Prepare RoI in plain-CSV files within .zip following ESAs' folder structure/file naming (reference date '2025-12-31'); include all tables in FilingIndicators.csv (even empty, set to 'true').
Test submissions against listed error codes (e.g., ICTO007 for LEI, identification mismatches); resolve per guidance sections (e.g., Sections 3.2.2, 5.1.2, 6).
Consult ESAs' EBA resources (data point model, validation rules, FAQs) and CSSF guides (e.g., submission guide, guidance tables).

Key Dates

30 April 2025 DEADLINE

- CSSF re-submission deadline post-validation for 2025; analogous for 2026 if errors detected

May 2025

I would like to welcome you all to the Central Bank of Ireland today 1 . We are delighted to host this gathering of EU Heads of Missions, representatives of our friends and partners from across the EU. A little over a year ago I had the pleasure to meet with you all. I spoke then of a geopolitical landscape facing significant strain and complexity; of the rise of economic nationalism and trade disputes; as well as the shift from cooperation to competition, and its impact on our ability to mee...

AI Analysis

This speech by Central Bank of Ireland (CBI) Governor Gabriel Makhlouf outlines priorities for building economic and financial resilience amid geopolitical risks, climate change, technological shifts, and geoeconomic fragmentation, emphasizing domestic policy focus areas like infrastructure, indigenous business growth, and fiscal buffers. It matters for compliance professionals as it previews CBI's forthcoming 2026 regulatory and supervisory priorities, signaling heightened scrutiny on operational and financial resilience, consumer protection, and alignment with a transforming regulatory framework. https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026

What Changed

This is a forward-looking speech, not announcing immediate regulatory changes, but it references CBI's ongoing transformation agenda, including:
Four overarching supervisory priorities for 2026: (1) Maintaining/building resilience to geopolitical/macro-financial risks (operational and financial resilience); (2) Securing consumer/investor...
Upcoming publication of full 2026 Regulatory and Supervisory Priorities "in the next few weeks." https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026
Broader roadmap initiatives: Integrated risk-based supervision; rulebook updates (e.g., AIF/UCITS, Fund Service Provider framework review post-AIFMD II, insurance compatibility with Solvency II,...

Suggested Considerations

Review and prepare for priorities: Monitor for 2026 priorities release (imminent); assess firm alignment with resilience themes (geopolitical/macro-financial risks, operational resilience, consumer protection).
Enhance resilience planning: Strengthen operational/financial resilience frameworks, including stress testing for geopolitical shocks, infrastructure dependencies, and climate risks; update outsourcing/governance per cross-sectoral guidance.
Engage on consultations: Participate in H1 2026 RIA Framework consultation and upcoming FSP review; review internal reporting/data processes for proportionality.
Sector-specific: Funds/asset managers—prepare for AIF/UCITS updates and FSP review; banks/insurers—align with CRD V/Solvency II compatibility reviews; all firms—ensure business models address narrow economic vulnerabilities.

Key Dates

2025

2026; - Ongoing implementation of banking/payments supervisory activities and multi-year roadmap (supervision, regulation, gatekeeping, reporting). https://www.matheson.com/insights/fig-top-5-at-5-06-03-2025/ https://www.centralbank.ie/news/article/press-release-central-bank-of-ireland-publishes-roadmap-to-deliver-a-more-effective-and-efficient-regulatory-framework-10-december-2025

Next few weeks from 11 February 2026

- Publication of CBI's full 2026 Regulatory and Supervisory Priorities. https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026

H1 2026

- Consultation on new Regulatory Impact Assessment (RIA) Framework. https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf

Shortly (2026)

- Launch of comprehensive Fund Service Provider (FSP) Framework review. https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf

Compliance Impact

Urgency: Medium—This speech signals strategic direction rather than enforceable rules, but imminent priorities publication and 2026 consultations demand proactive preparation to avoid intensified supervision/enforcement. It matters because CBI emphasizes resilience in a high-risk environment (geopolitics, AI, climate), with non-compliance risking closer scrutiny under new integrated approach; firms ignoring this could face heightened operational reviews amid efficiency drive without standards reduction. https://www.centralbank.ie/regulation/transforming-regulation-and-supervision

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Prudential / Capital Requirements Senior Managers / Governance

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech high

February 11th 2026

Building economic resilience is not optional - Central Bank of Ireland Governor Gabriel Makhlouf

The Central Bank of Ireland has set out its regulatory and supervisory priorities for 2026 and provided detailed advice to Government on building economic resilience in the face of unprecedented uncertainty. In his letter to the Tánaiste and Minister for Finance Simon Harris, Governor Gabriel Makhlouf set out his views on the macro-financial environment, the financial services landscape and the Central Bank of Ireland’s financial regulation priorities for the year ahead . Governor Makhlouf em...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 BoE News medium

February 10th 2026

Foreign Currency Reserves 2026 – Market Notice 10 February 2026

Not for distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan or any other jurisdiction where it is unlawful to distribute this announcement

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Market Abuse / Surveillance

BankBroker DealerAsset Manager

Banking & Credit Consumer Credit Mortgage & Lending

🇮🇪 CBI Warning high

February 10th 2026

Capital Horizon Loans (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

February 10th 2026

Patrick Montagner: Interview with MLex

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC News high

February 10th 2026

SFC obtains compensation and disqualification orders against former directors of Arta TechFin Corporation Limited

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Senior Managers / Governance

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News critical

February 10th 2026

Active exploitation of vulnerabilities on Ivanti Endpoint Manager Mobile (EPMM)

CVE-2026-1281 & CVE-2026-1340

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

February 10th 2026

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Technology & Cyber

BankWealth ManagerFintech

🇦🇪 DFSA News high

February 10th 2026

Green notices cover significant and/or significant proposals for Bank of England reporting. If any of these proposals are finalised and are to be implemented, they will appear in a statistical notice.

AI Analysis

Green Notice 2026/01 from the Bank of England (BoE) updates the consultation on discontinuing Form BN data collection, which tracks non-resident business by UK Monetary Financial Institutions (MFIs), following positive feedback on burden reduction but with a pause due to Office for National Statistics (ONS) reliance. Firms must continue reporting Form BN indefinitely pending BoE's assessment of alternatives like Forms CC and CL. This matters for compliance teams as it maintains current reporting obligations while signaling potential future relief, avoiding premature process changes.

What Changed

- No immediate discontinuation of Form BN; BoE is assessing Forms CC and CL as alternatives to meet ONS needs, considering data suitability, methodological impacts, and cost-benefit trade-offs.
Consultation feedback confirmed no objections to discontinuation and broad agreement on reduced burden, though some firms noted limited savings due to integrated reporting processes.
Any final changes will be via a future Statistical Notice; proposed end-date (April 2026 reference period) from Green Notice 2025/01 remains tentative.

Suggested Considerations

Continue submitting Form BN as per current thresholds and schedules; do not discontinue reporting.
Monitor BoE statistics notices for updates on assessment outcomes and any confirmed changes.
Review internal processes for Forms CC and CL to prepare for potential expanded use or adjustments if Form BN ends.
If previously provided feedback, no further action needed on consultation (closed).

Key Dates

31 December 2025 DEADLINE

- Consultation feedback deadline on original Form BN discontinuation proposal (now closed; summarized in this notice)

April 2026

- Proposed final reference period for Form BN data collection (tentative, pending assessment)

May 2026

- Proposed final publication date for Form BN data (tentative)

TBD

- Completion of BoE assessment on Forms CC/CL alternatives and issuance of further Statistical Notice with confirmed changes

Compliance Impact

Urgency: Medium - Firms face no new burdens or changes yet, but must sustain Form BN reporting to avoid non-compliance risks, as explicitly required. This matters because premature cessation could disrupt ONS statistics and invite regulatory scrutiny; however, low urgency stems from no fixed end-date and positive feedback on eventual burden reduction, allowing time for monitoring without immediate resource reallocation.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

February 9th 2026

Sharon Donnery: Interview with the Business Post

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

February 9th 2026

ASIC action sees FIIG Securities ordered to pay $2.5 million over cyber security failures

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Consumer Protection / Conduct

Broker DealerWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech medium

February 8th 2026

The world today – remarks by Andrew Bailey

Given at the AlUla Conference for Emerging Market Economies 2026

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Insurance & Pensions

🇿🇦 FSCA News high

February 7th 2026

Regulated People and Entities

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇿🇦 FSCA News medium

February 7th 2026

Procurement

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerFintech

Banking & Credit Investment Management Insurance & Pensions

🇿🇦 FSCA News low

February 7th 2026

Language Policy and Services

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Insurance & Pensions

🇿🇦 FSCA News medium

February 7th 2026

Financial Services Tribunal

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇿🇦 FSCA News low

February 7th 2026

PAIA and POPIA Requests

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇿🇦 FSCA News low

February 7th 2026

Subscriptions

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Reporting & Disclosure

BankWealth ManagerFintech

Banking & Credit Consumer Credit Mortgage & Lending

🇿🇦 FSCA News

February 7th 2026

FSCA MyMoney

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇿🇦 FSCA News

February 7th 2026

Related Websites

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Insurance & Pensions

🇿🇦 FSCA News high

February 7th 2026

Supervisory Information

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇿🇦 FSCA News low

February 7th 2026

Comments Portal

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Insurance & Pensions Capital Markets & Trading

🇿🇦 FSCA News low

February 7th 2026

Submit an enquiry or complaint

Sectors:

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA policy_statement high

February 6th 2026

Independent assessment to support establishment of a Future Entity

We have published a letter to trade associations to provide an update in the development of a Future Entity (FE) for open banking. The letter confirms the appointment of KPMG to provide an independent assessment of proposals to establish a standards-setting body for UK open banking APIs that is capable of becoming the Future Entity. It explains the purpose and scope of the assessment, the respective roles of the FCA, industry, trade associations and the independent assessor, and how firms can...

AI Analysis

The FCA has appointed KPMG to conduct an independent assessment of proposals for establishing a **Future Entity** – a standards-setting body for UK open banking APIs that will replace Open Banking Limited. This initiative is critical because it establishes the governance framework for open banking ahead of new legislative powers the FCA will receive under the Data (Use and Access) Act 2025, with a statutory instrument expected by end-2026.

What Changed

The regulatory landscape for UK open banking is undergoing fundamental restructuring:
Transition of regulatory authority: The FCA is becoming the primary regulator for open banking, replacing the Joint Regulatory Oversight Committee (JROC).
Future Entity establishment: A new standards-setting body will become the primary UK standard-setting organization for open banking APIs, responsible for setting and maintaining common standards for...
Independent assessment process: KPMG will evaluate competing proposals from industry participants to determine which organization should lead the Future Entity establishment.
Legislative framework: HM Treasury will introduce legislation granting the FCA new rulemaking powers for open banking under the Data (Use and Access) Act 2025.

Suggested Considerations

*For industry participants and trade associations:
*Engage with the assessment process: Participate in the independent assessment by submitting proposals or supporting existing proposals for Future Entity leadership
*Arrange FCA Q&A sessions: Organizations interested in leading Future Entity establishment should contact the FCA directly to schedule one-hour Q&A sessions ahead of the independent consultancy process launch
*Coalesce behind proposals: Industry should decide which proposal option should lead the next phase of work, with the FCA commissioning assessment of either multiple proposals or a single industry-supported proposal
*Prepare for VRP implementation: Ensure systems and processes are ready for live Variable Recurring Payments transactions expected in Q1 2026

Key Dates

Q1 2026

– Final design of Future Entity expected; live transactions expected through VRP scheme

End of 2026

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Consumer Protection / Conduct

Broker DealerWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

February 6th 2026

Regulatory Notice 26-03

FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News high

February 6th 2026

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

Wealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

February 5th 2026

ASIC takes further steps to support Australians impacted by First Guardian and Shield collapse

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Insurance & Pensions

🇯🇵 JFSA News

February 4th 2026

Others,Updated English version of Reference Cases on Suspicious Transactions

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankInsuranceAll Firms

🇬🇧 PRA Consultation medium

February 4th 2026

DP1/26 – Future banking data

Discussion paper 1/26

AI Analysis

The PRA's DP1/26 outlines its Future Banking Data (FBD) programme, reviewing strategic regulatory reporting for banks to reduce costs, enhance data quality, timeliness, and relevance, while aligning with its secondary competitiveness and growth objective. This discussion paper seeks industry feedback on pragmatic, incremental reforms to reporting templates, processes, and principles, balancing supervisory needs with proportionality. It matters for compliance teams as it signals potential simplifications in data submissions, but requires proactive engagement to influence outcomes and prepare for evolving requirements.

What Changed

DP1/26 proposes no immediate binding changes, as it is a discussion paper seeking views rather than a consultation with firm rules. Key elements include:
Incremental reforms: Extending recent template deletions (e.g., from Strong and Simple initiative for liquidity returns in small banks) to wider collections, aiming for cost reductions estimated at...
Guiding principles: Four principles to shape FBD: (i) anchor data in PRA objectives; (ii) collect data 'once and well' (minimize volume, maximize use); (iii) ease firm supply processes; (iv) ensure...
Trade-offs: Balancing data standardization, comparability, international alignment, granularity vs. aggregation, and regular vs. ad-hoc requests.
Future roadmap: PRA will develop reforms based on responses, focusing on clearer instructions, coherent UK-wide processes, and addressing gaps for emerging risks. No finalized requirements yet;...

Suggested Considerations

Submit responses: By 5 May 2026 via email to DP1_26@bankofengland.co.uk or post to PRA address; indicate confidentiality preferences, noting no guaranteed protection under FOIA/data regimes.
Review and assess impact: Evaluate current reporting against proposed principles/trade-offs; identify cost-saving opportunities and gaps in data processes.
Engage proactively: Provide feedback on reforms (e.g., template reviews, standardization) to shape roadmap; benchmark data capabilities (e.g., vs. BCBS 239).
Prepare internally: Anticipate clearer instructions, potential UK-wide coherence (with FCA), and shifts in regular/ad-hoc balance; no immediate submissions changed.

Key Dates

🇦🇺 ASIC News high

February 4th 2026

Sectors:

ESG Prudential / Capital Requirements

Topics:

BankInsurance

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News low

February 3rd 2026

The AMF awards its Marie-Josèphe-Vanel thesis prize in law to Vincent Ramonéda

Institutional Regulatory developments Financing the economy Other professionals Journalists Listed companies and issuers The AMF awards its Marie-Josèphe-Vanel thesis prize in law to Vincent Ramonéda

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Asset ManagerBroker DealerBank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

February 3rd 2026

Upper Tribunal finds that Banque Havilland devised a plan to harm the Qatari economy

The Upper Tribunal has upheld the FCA’s decision that Rangecourt SA (formerly Banque Havilland), Edmund Rowland, the former London CEO and Vladimir Bolelyy, a former Bank employee, acted without integrity. The Tribunal agreed with the FCA that significant fines should be imposed, deciding that fines of £4m, £352,000 and £14,200 were appropriate for Rangecourt SA, Mr Rowland and Mr Bolelyy respectively. The Tribunal also upheld the FCA’s decision to ban Mr Rowland and Mr Bolelyy from working i...

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Market Abuse / Surveillance

BankWealth ManagerAsset Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇪🇺 ECB News medium

February 3rd 2026

Patrick Montagner: Encouraging innovation, managing risks: the ECB’s approach to digital transformation

No description available.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Prudential / Capital Requirements

BankFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News medium

February 3rd 2026

Publication,FSA Weekly Review No.673 February 3, 2026

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News medium

February 3rd 2026

Regulators announce first firms to join Scale-up Unit

The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit. The Scale-up Unit announced last year is designed to build stronger ties and provide tailored support for fast-growing and innovative financial firms, helping them to grow sustainably at pace.The 6 firms that expressed interest and have been accepted to the first cohort are:Allica BankClearBankMonument BankNo...

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Consumer Protection / Conduct

BankFintechAll Firms

🇬🇧 BoE News medium

February 3rd 2026

Regulators announce first firms to join Scale-up Unit

The Prudential Regulation Authority and Financial Conduct Authority have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit.

Sectors:

Authorisation & Licensing Prudential / Capital Requirements

Topics:

BankFintech

Banking & Credit Investment Management Insurance & Pensions

🇪🇺 ECB News medium

February 3rd 2026

Patrick Montagner: Interview with l’Agefi

No description available.

Sectors:

Topics:

Prudential / Capital Requirements ESG Reporting & Disclosure

BankAsset ManagerInsurance

Banking & Credit Insurance & Pensions Consumer Credit

🇬🇧 FCA Enforcement high

February 3rd 2026

What do we mean when we say 'fair value'?

What does 'fair value' mean in financial services? It might sound like dry regulator speak, but it’s really asking a simple question – are customers paying a reasonable price for a product, compared to the benefits they get in return?This is not us setting a particular price or level of profit which firms can make. But it's a challenge to firms – can they provide evidence that their customers are getting a fair deal? If they can’t, then they need to look again.This applies across financial se...

AI Analysis

This FCA blog post clarifies the 'fair value' concept under Consumer Duty, emphasizing that firms must evidence a reasonable price-to-benefits relationship without the FCA dictating prices or profits. It matters because it signals ongoing FCA scrutiny and enforcement in sectors like cash savings, investment platforms, and premium finance, with demonstrated consumer savings of £167m annually from interventions. Compliance professionals must prioritize robust fair value assessments to avoid challenges, remedial actions, or enforcement.

What Changed

No new rules are introduced; this reinforces existing Consumer Duty requirements (effective July 2023 for new products, July 2024 for closed books) on fair value as one of four outcomes...
Firms must demonstrate evidence of fair value, assessing price against benefits, costs, and services delivered.
Ongoing reviews required throughout product lifecycle, with actions if fair value fails (e.g., improve, withdraw).
FCA rejects prescriptive interventions like 0% APR in premium finance to avoid market harm, favoring firm-led assessments.[FCA blog]

Suggested Considerations

Conduct and evidence fair value assessments: Use frameworks considering product nature/benefits, limitations, total lifetime costs (fees/charges), relative to benefits; benchmark internally/externally; segment by consumer groups including vulnerables.
Review and act on failures: If no fair value, implement mitigations (e.g., price adjustments, process improvements, product withdrawal); evidence processes and implementation.[FCA blog]
Monitor markets/products ongoing: Assess at firm/market level, including intangible benefits (e.g., scam protection, support channels); prepare for FCA challenges/enforcement.
Premium finance specific: All firms review offerings; outliers demonstrate workings or improve (e.g., APR reductions).[FCA blog]

Compliance Impact

Urgency: High – FCA is actively intervening (e.g., £157m savings in premium finance, £10m in platforms), with threats of enforcement for poor processes/evidence. Matters due to cultural shift under Consumer Duty; weak assessments risk fines, remediation, or product halts, especially in high-complaint areas like savings/insurance. Firms without frameworks face immediate exposure in supervisory reviews.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

BankInsuranceAll Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇪 ADGM News

February 3rd 2026

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Capital Markets & Trading Payments & E-Money

🇱🇺 CSSF News medium

February 2nd 2026

Outcomes of the 2025 SFTR Data Quality indicators review

The CSSF informs the market regarding the outcomes of the SFTR Data Quality indicators review performed in 2025

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Operational Resilience / Outsourcing

BankBroker DealerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

February 2nd 2026

PCAM: BaFin warns against offers on the website pc-asset-management[.]com, in the app “PCAU pro,” and in WhatisApp groups

In the WhatsApp groups, investors are recommended by “Harrison T Blake” and “Francesca Müller” to invest in financial instruments that can then be traded via the aforementioned app or the platform pc-asset-management[.]com.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News medium

February 2nd 2026

02 Feb 2026 Read more

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Investment Management Insurance & Pensions Banking & Credit

🇯🇵 JFSA News low

January 30th 2026

Others,Stewardship Code: List of institutional investors accepted the Principles for Responsible Institutional Investors as of December 31, 2025

No description available.

Sectors:

Topics:

ESG Reporting & Disclosure Authorisation & Licensing

Asset ManagerInsuranceBank

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin Guidance high

January 30th 2026

Artificial intelligence: BaFin publishes guidance on ICT risks

The Federal Financial Supervisory Authority (BaFin) has issued its “Guidance on ICT Risks in the Use of Artificial Intelligence at Financial Entities”. The guidance will help entities manage ICT risks in accordance with the requirements under DORA.

AI Analysis

BaFin's "Guidance on ICT Risks in the Use of Artificial Intelligence at Financial Entities," published December 18, 2025, provides non-mandatory advice to help financial entities manage ICT risks from AI under DORA across the AI lifecycle. It matters because it integrates AI explicitly into existing ICT risk frameworks, emphasizing security, resilience, and third-party risks for supervised institutions, aligning with RTS on ICT risk management (EU 2024/1774) and subcontracting (EU 2025/532). This clarifies supervisory expectations amid growing AI adoption in finance, reducing ambiguity in DORA compliance.

What Changed

The guidance does not introduce new binding rules but clarifies AI as ICT systems requiring DORA-compliant treatment, including:
AI strategy: Management-approved, aligned with overall strategy, defining responsibilities, competencies, and interdisciplinary collaboration for critical functions.
ICT risk management integration: Cover identification, protection, detection, response, recovery, training; apply to AI lifecycle (data acquisition, development, operation, retirement).
Development and testing: Robust standards, documentation, testing proportionate to criticality; special focus on generative AI/LLMs, open-source, and code generation risks.
Operational processes: Asset classification, monitoring, access controls, logging, anomaly detection, business continuity, secure decommissioning.

Suggested Considerations

Develop and approve AI strategy integrated with ICT roadmap and governance.
Embed AI in existing ICT risk framework, ensuring lifecycle coverage with safeguards (e.g., testing, monitoring, decommissioning).
Conduct third-party due diligence and contractual reviews for AI/cloud providers, including exit/portability testing.
Implement AI-specific testing, documentation, and incident processes proportionate to criticality.
Ensure management accountability for oversight, training, and interdisciplinary controls.

Key Dates

🇬🇧 FCA Speech high

January 30th 2026

The FCA’s long term review into AI and retail financial services: designing for the unknown

Speech by Sheldon Mills, at the FCA's Supercharged Sandbox Showcase event. Before we begin, take a look around this room. This is the Supercharged Sandbox. 23 firms at the frontier of retail financial services, chosen from 132 applications. If anyone still doubts the pace of AI change in our sector, this room is the answer.The Board has asked me to lead the long-term review into AI and retail financial services. I will report to the FCA Board in the summer, setting out recommendations to help...

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Payments & E-Money Consumer Credit

🇬🇧 FCA Enforcement medium

January 30th 2026

AI Live Testing: How it can support safe and responsible AI deployment

AI Live Testing now open for applicationsAt the FCA, we’re providing a structured but flexible space where firms can test AI-driven services in real-world conditions, all with our regulatory support and oversight and help from our technical partner, Advai. Collaboration and communication is at the heart of what we are doing.The first cohort joined AI Live Testing in October last year. We opened a second application window on 19 January 2026 and are now inviting applications.Moving on from 'PO...

AI Analysis

The FCA's AI Live Testing initiative provides a voluntary, structured program for firms with mature AI proofs-of-concept (POCs) to test AI-driven services in controlled real-world environments under regulatory oversight and support from technical partner Advai. This matters because it enables safe progression from 'POC paralysis' to deployment, while helping the FCA gather insights on translating AI principles into consumer and market protections, informing future regulation. Participation enhances firms' governance, risk management, and evaluation frameworks for responsible AI use in financial services.

What Changed

This is not a mandatory regulatory change but a voluntary testing service launched by the FCA; no new enforceable requirements are imposed. Key elements include a holistic focus on the AI system (model + deployment context, risks, governance, human-in-the-loop, evaluation, input/output controls) rather than isolated foundation models. The program features three phases: Discovery, Framework validation, and AI system testing (quantitative/qualitative), emphasizing live monitoring, governance, and risk management. It complements the FCA's Supercharged Sandbox for earlier-stage AI exploration.

Suggested Considerations

Review FCA's Terms of Reference (PDF) for eligibility, focusing on mature POCs and enterprise-level AI systems.
Submit application form via FCA portal by 2 March 2026 if ready for live testing; contact suptech@ fca.org.uk for queries.
Prepare documentation on AI system components (model, context/risks, governance, human oversight, evaluation, controls) for three-phase process.
Assess internal governance, data, risk frameworks, and monitoring for AI readiness; consider non-participation but monitor for future FCA expectations.
Firms not selected should use insights from first cohort (e.g., evaluation frameworks) to strengthen internal AI practices.

Key Dates

October 2025

- First cohort began testing (historical reference)

19 January 2026

- Second application window opens

2 March 2026 DEADLINE

- Application deadline for second cohort

April 2026

- Testing starts for second cohort

Mid

March 2026; - Notification of successful applicants

Compliance Impact

Urgency: Medium - Voluntary program, but signals FCA's proactive stance on AI oversight; non-participation risks lagging in best practices for Consumer Protection / Conduct and Operational Resilience / Outsourcing as regulator builds evidence for potential rules. Matters for competitive edge in AI deployment and demonstrating alignment with principles-based regulation amid 'POC paralysis'. Early movers gain tailored support, intelligence-sharing on risks, and influence on FCA's evolving AI approach.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankFintechInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

January 30th 2026

Getting fit for the future − speech by Afua Kyei

Given at the Audit and Risk Committee Dinner, Undercroft Gallery, Roman Amphitheatre, Guildhall

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC News high

January 30th 2026

Cross Agency Steering Group announces Strategic Priorities for 2026-2028

No description available.

Sectors:

Topics:

BankAsset ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News low

January 30th 2026

Media contacts

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Consumer Protection / Conduct

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News

January 30th 2026

Superintendent Routledge participates in a fireside chat at TD Annual Conference

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 29th 2026

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News medium

January 29th 2026

OSFI’s Quarterly Release: continuing to advance smart, well-calibrated risk-taking

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

🇨🇦 OSFI Guidance high

January 29th 2026

Backgrounder: Final Liquidity Adequacy Requirements Guideline (2026)

AI Analysis

The OSFI Final Liquidity Adequacy Requirements (LAR) Guideline (2026) finalizes revisions to liquidity risk monitoring standards for federally regulated deposit-taking institutions, incorporating feedback from a 2025 consultation to address evolving financial products like partnership deposits and structured notes. It enhances resilience against liquidity stress by clarifying retail funding classifications and aligning with Basel III standards, balancing regulatory burden with institutions' need to innovate and compete. This matters because liquidity ranks as a top risk amid geopolitical tensions, market uncertainty, and rapid cash outflows, directly impacting institutions' ability to meet obligations during stress.

What Changed

- Clarifies classification of deposits as retail funding for favorable liquidity treatment, segmenting partnership deposits by insurance status, transactional account type, and established retail...
Combines two proposed categories of retail structured notes into one, aligning their liquidity treatment with term deposits managed by unaffiliated third parties; specifies maturity measurement for...
Simplifies the definition of retail rate-sensitive deposits to improve consistency in liquidity risk measurement across LCR, NSFR, and NCCF metrics.
Builds on prior LAR updates (e.g., 2025), incorporating Basel Consolidated Framework standards with OSFI-specific notes for Canadian institutions; maintains two core standards (LCR and NSFR) plus...
Reflects stakeholder feedback on draft revisions, enhancing treatment of hybrid retail-wholesale products amid market innovation.

Suggested Considerations

Review and update internal liquidity risk frameworks, models, and reporting to incorporate clarified retail funding classifications (e.g., partnership deposits, structured notes) for LCR, NSFR, NCCF, and other metrics.
Recalibrate deposit classifications, maturity calculations for autocallable notes, and contingent funding triggers; ensure alignment with OSFI Notes in the guideline and read alongside Guideline B-6.
Conduct gap analyses against prior LAR versions (e.g., 2025) and test compliance via supervisory tools like OCFS (if applicable) and intraday monitoring; prepare for OSFI assessments.
Institutions should document processes for retail rate-sensitive deposits and notify OSFI if needed (e.g., Category III SMSBs on derivatives within 60 days of quarter-end).
Engage OSFI via Consultations@osfi-bsif.gc.ca for clarifications; maintain records of consultation feedback implementation where relevant.

Compliance Impact

Urgency: High – With effectiveness on May 1, 2026 (approx. 3 months from now), institutions face tight timelines for system updates, model recalibrations, and staff training amid liquidity as a top 2025-2026 risk. Non-compliance risks supervisory intervention under Bank Act ss. 485(3)/949(3) or TLCA s. 473(3), potential administrative monetary penalties, and heightened scrutiny in OSFI's quarterly risk assessments; changes sharpen focus on stress resilience while allowing competition, but misclassification of evolving products could amplify funding costs or stability risks.

References

AI-generated analysis. May contain errors or omissions — verify with the original OSFI source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇨🇦 OSFI News high

January 29th 2026

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇸🇬 MAS News medium

January 28th 2026

Singapore to Join International Efforts to Support IMF’s Initiatives for Vulnerable Countries

MAS announced that Singapore intends to join international efforts to enhance the capacity of the International Monetary Fund to help vulnerable member countries deal with economic shocks.

Sectors:

Topics:

Prudential / Capital Requirements ESG Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

January 27th 2026

Press Conference “Risks in BaFin’s Focus”, 28 January 2026

Opening Statement by Mark Branson

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Technology & Cyber

BankFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News medium

January 27th 2026

Councils,Joint session of the 56th general meeting of Financial System Council and the 44th meeting of Sectional Committee on Financial System

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

January 27th 2026

Aktualisierte Sanktionsmeldung: Guatemala

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen betreffend Guatemala (SR 946.231.137.6) publiziert.

Sectors:

Topics:

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

January 27th 2026

Mills Review to consider how AI will reshape retail financial services

The FCA has launched a review into the implications of advanced AI on consumers, retail financial markets and regulators. The Review will be led by Sheldon Mills and builds on the FCA’s existing work on AI. This includes its AI Discussion Paper, AI Sprint, and AI Lab including AI Live Testing and its groundbreaking Supercharged Sandbox supported by NVIDIA.AI is already embedded across financial services. Rapid advances in generative, agentic and emerging forms of AI mean the next phase of cha...

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News medium

January 26th 2026

Publication,FSA Weekly Review No.672 January 26, 2026

No description available.

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC News high

January 26th 2026

SFC suspends Choi Sau Wai for seven months

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Authorisation & Licensing

Broker DealerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC News high

January 26th 2026

SFC suspends Wong Chi Fai for 27 months

No description available.

Sectors:

Topics:

AML / Financial Crime Market Abuse / Surveillance Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice low

January 24th 2026

Electronic Fingerprint Processing

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

Broker DealerAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice low

January 24th 2026

Derivatives and Other Balance Sheet Items (OBS)

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Cybersecurity

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Consumer Protection / Conduct

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Credit for Cooperation

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

COVID-19 / Coronavirus

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Consumer Protection / Conduct

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Correspondence

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerAsset Manager

Banking & Credit Capital Markets & Trading Investment Management

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Corporate Financing

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Reporting & Disclosure

Broker DealerAsset ManagerBank

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Corporate Bonds

Sectors:

Consumer Protection / Conduct Reporting & Disclosure

Topics:

Broker DealerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Continuing Education

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerWealth ManagerAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Consolidated Reports

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerAsset ManagerBank

Banking & Credit Capital Markets & Trading Investment Management

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Conflicts of Interest

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Senior Managers / Governance

Broker DealerBankAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Compensation

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Communications with the Public

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Certificates of Deposit (CDs)

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

Broker DealerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice low

January 24th 2026

Cash Equivalents

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Carrying Agreements

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Business Continuity Planning

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

Broker DealerBankAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Broker-Dealer Recruitment Disclosures

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Breakpoints

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Branch Offices

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Senior Managers / Governance

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Books and Records

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Senior Managers / Governance

Broker DealerAsset ManagerBank

Banking & Credit Capital Markets & Trading Investment Management

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Blue Sheets

Sectors:

Topics:

Reporting & Disclosure Market Abuse / Surveillance Operational Resilience / Outsourcing

Broker DealerAsset ManagerBank

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Block Chain / Distributed Ledger Technology

Sectors:

Topics:

Technology & Cyber Reporting & Disclosure Authorisation & Licensing

Broker DealerFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Best Practices

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Best Execution

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Reporting & Disclosure

Broker DealerAsset ManagerAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Auction Rate Securities

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerWealth ManagerAsset Manager

Banking & Credit Capital Markets & Trading Investment Management

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Asset Backed Securities

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Consumer Protection / Conduct

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Artificial Intelligence

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Arbitration and Mediation

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Anti-Money Laundering

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Operational Resilience / Outsourcing

Broker DealerBankAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Annual Audit

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Capital Markets & Trading Investment Management

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Alternative Display Facility (ADF)

Sectors:

Topics:

Reporting & Disclosure Market Abuse / Surveillance Authorisation & Licensing

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Alternative and Complex Products

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

Broker DealerWealth ManagerAsset Manager

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Agency Bonds

Sectors:

Reporting & Disclosure Consumer Protection / Conduct

Topics:

Broker DealerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Advertising Regulation

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Broker DealerAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-01

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Regulatory Notice 25-02

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Consumer Protection / Conduct

Broker DealerBankAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-03

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Authorisation & Licensing

Broker DealerBankAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-04

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-07

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Consumer Protection / Conduct

Broker DealerAsset ManagerFintech

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice low

January 24th 2026

Special Notice – 5/15/25

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerAsset ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-09

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Election Notice – 9/4/25

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Senior Managers / Governance

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-10

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

Broker DealerBankFintech

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Regulatory Notice 25-11

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

Broker DealerBankAsset Manager

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-12

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Broker DealerBank

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-13

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Election Notice – 10/20/25

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Senior Managers / Governance

Broker DealerAsset ManagerAll Firms

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-15

Sectors:

Reporting & Disclosure Market Abuse / Surveillance

Topics:

Broker DealerBank

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-16

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Asset ManagerBroker DealerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-17

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Technology & Cyber

Broker DealerAsset ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice medium

January 24th 2026

Regulatory Notice 25-18

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Regulatory Notice 26-02

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Senior Managers / Governance

Broker DealerWealth ManagerBank

Banking & Credit Capital Markets & Trading Payments & E-Money

🇺🇸 FINRA regulatory_notice high

January 24th 2026

Trade Reporting Notice 1/14/26

FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.

Sectors:

Topics:

Reporting & Disclosure Technology & Cyber Authorisation & Licensing

Broker DealerFintechAll Firms

Payments & E-Money Banking & Credit Consumer Credit

🇬🇧 FCA Guidance high

January 24th 2026

Consumer Duty: International payment pricing transparency – good and poor practice

Good and poor practice

AI Analysis

The FCA's guidance outlines good and poor practices in communicating costs for international money remittance and cross-border payments involving currency conversion, emphasizing transparency under the Consumer Duty to enable informed consumer decisions. It matters because non-compliance risks supervisory action, as the FCA plans future reviews to assess improvements, raising the bar on pricing clarity amid ongoing Duty enforcement.

What Changed

This is not new rulemaking but illustrative guidance applying existing Consumer Duty rules from FG 22/5 and PRIN 2A.5.3R, which mandate communications that are clear, fair, not misleading, meet retail customers' information needs, are understandable, and support effective decisions. Key emphases include pre-transaction disclosure of: amount remitted (GBP), applied exchange rate (explaining markups as consumer costs), recipient amount (local currency), variable/fixed fees, total fees, and intermediary/recipient bank fees where applicable.

Suggested Considerations

Review and update pre-transaction communications (e.g., websites) to prominently display all required pricing elements before commitment: GBP amount, exchange rate/markup, recipient amount, fees (fixed/variable/total), and intermediary warnings.
Ensure markups are framed as consumer costs, not obscured (e.g., avoid "zero cost" claims despite markups).
Monitor communication effectiveness regularly under Consumer Duty to confirm good outcomes, enabling cost comparisons and informed choices.
Apply principles to all channels; proactively disclose fee variability and third-party impacts.

Key Dates

31 July 2023

- Consumer Duty effective date for new and existing products/services

1 May 2025

- FCA publication date of this good/poor practice guidance

Compliance Impact

Urgency: High – Consumer Duty is live since 2023, but this 2025 guidance signals intensified FCA scrutiny on payments transparency, with planned follow-up work and engagement to enforce improvements. Firms risk remediation demands or enforcement if disclosures remain inadequate, especially as it targets common weaknesses like hidden fees amid broader Duty portfolio reviews.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Payment ProviderBankFintech

Banking & Credit Insurance & Pensions Payments & E-Money Consumer Credit

🇬🇧 FCA Guidance high

January 24th 2026

PS25/19: Improving the complaints reporting process

Consultation papers

AI Analysis

FCA PS25/19 finalizes rules to streamline complaints reporting by replacing multiple existing returns with a single consolidated return, enhancing data quality, consistency, and vulnerability identification while reducing burdens. This matters for compliance teams as it mandates system and process updates to improve regulatory oversight and consumer protection, with implementation required within 12 months.

What Changed

- Consolidated complaints return: Replaces five existing returns (DISP 1 Annex 1, Consumer Credit Return (CCR), Funeral Plans (FP), Claims Management Companies (CMCs), and Electronic Money and...
Permission-based reporting: Firms report only sections relevant to their regulated permissions, targeting reporting to specific activities.
Simplified nil returns: Proportionate approach allows upfront selection for firms with no complaints.
Removal of group reporting: Shifts to individual legal entity-level reporting for greater transparency and oversight.
Updated complaints taxonomy: Revised categories reflect modern products/services, reducing use of 'Other' and improving categorization.

Suggested Considerations

Review and update internal complaints recording, categorization, and reporting systems to align with new consolidated return, taxonomy, permission-based sections, and vulnerability data points.
Eliminate group-level aggregation; implement entity-level reporting.
Integrate FCA Vulnerability Guidance into complaints processes for identification and reporting.
Test and prepare for fixed 6-monthly submissions via FCA systems; complete nil return simplifications where applicable.
For Retail Banking, Insurance, Payment Services, and CMCs: Retain and adapt contextualised data capture.

Compliance Impact

Urgency: High – With publication on 3 Dec 2025 and a 12-month implementation window (to ~Dec 2026), firms must prioritize system changes now, as the first period starts 1 Jan 2027; non-compliance risks enforcement, especially on vulnerability reporting and transparency, amid FCA's focus on consumer protection data quality.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure

BankInsurancePayment Provider

Payments & E-Money Crypto & Digital Assets Banking & Credit

🇬🇧 FCA Guidance high

January 24th 2026

CP25/15: A prudential regime for cryptoasset firms

Consultation papers

AI Analysis

CP25/15 proposes prudential rules and guidance for UK firms issuing **qualifying stablecoins** and safeguarding **qualifying cryptoassets**, aiming to foster a safe, competitive crypto sector while prioritizing consumer protection and market integrity. This matters for compliance professionals as it introduces tailored prudential sourcebooks (COREPRU and CRYPTOPRU) to mitigate firm failure risks, aligning with the FCA's crypto roadmap and Treasury's statutory plans.

What Changed

- Prudential Sourcebooks: Introduces COREPRU (core requirements across sectors) and CRYPTOPRU (crypto-specific calibrations) for "CRYPTOPRU firms" handling regulated crypto activities, covering own...
Own Funds and Capital Rules: Firms must hold financial resources adequate in amount and quality, including adjustments for valuation uncertainty, stress realizable values, and interim profits in CET1...
Risk Management and Outcomes: Targets prevention of firm failures, disorderly wind-downs, and consumer harm; measures success via reduced failure rates, market confidence, and prudential assessments.
Sector-Specific Rules: Calibrated for stablecoin issuance and cryptoasset safeguarding, with future consultations on broader applications (e.g., trading venues, staking).

Suggested Considerations

Respond to Consultation: Firms, advisers, and stakeholders must submit comments by 31/07/2025 using the online form, email, or post to influence final rules.
Assess Applicability: Crypto firms evaluate if they qualify as CRYPTOPRU firms; conduct gap analyses against proposed COREPRU/CRYPTOPRU rules on own funds, capital adequacy, and stress testing.
Prepare Prudential Frameworks: Develop internal capital adequacy processes reflecting stress events, valuation adjustments, and ongoing prudential assessments; review threshold conditions and business principles.
Engage on Related CPs: Monitor and respond to CP25/14 (stablecoin issuance/custody) and future CPs (e.g., CP2, Q3 2025 Conduct Standards).
Data and Reporting Readiness: Prepare to provide firm/market data for FCA evaluations on adherence and outcomes.

Key Dates

28/05/2025

- Consultation opens and CP first published

31/07/2025

- Consultation closes; submit feedback via online form, email ([email protected]), or post

Q3 2025

- Upcoming Conduct and Firm Standards CP affecting all cryptoasset firms, including QS issuers and custodians

Post

31/07/2025; - FCA considers feedback and publishes final rules (no specific date given)

Future (CP2 per Roadmap)

- Consultation on remaining prudential sourcebook requirements

Compliance Impact

Urgency: High – As of January 2026, the consultation closed over five months ago, signaling imminent final rules that could reshape prudential requirements for crypto firms; non-compliance risks authorization barriers, enforcement, or market exclusion in a regime prioritizing stability amid global crypto growth. This elevates risks for firm failures and consumer harm, demanding immediate gap assessments to align with proportionate standards supporting innovation.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Consumer Protection / Conduct

FintechCrypto ExchangePayment Provider

Banking & Credit Investment Management Insurance & Pensions

🇬🇧 FCA Guidance medium

January 24th 2026

Statement of Policy on statutory investigations into regulatory failure and producing reports [PDF]

Policy and guidance

AI Analysis

The FCA's updated Statement of Policy outlines its approach to statutory investigations into possible regulatory failures under Part 5 of the Financial Services Act 2012, including criteria for triggering investigations and producing reports for HM Treasury. It matters because it clarifies when the FCA must self-scrutinize serious lapses in regulation, helping firms anticipate rare but high-profile probes into systemic issues affecting consumer protection, market integrity, or competition. The primary update adjusts inflation-linked monetary thresholds for assessing "significant" consumer detriment, ensuring the policy remains relevant.

What Changed

- Inflation-adjusted monetary thresholds for consumer detriment: Detriment exceeding £210 million is more likely deemed "significant," while below £45 million is unlikely to meet the threshold unless...
No other substantive changes from the 2013 policy; refinements emphasize internal "lessons learned" reviews for non-statutory cases to avoid resource duplication in formal probes.
Clarified two-part statutory test: (1) Events indicating significant failure in consumer protection or adverse effects on integrity/competition objectives; (2) Events might not have occurred (or...

Suggested Considerations

Monitor for triggering events: Firms should self-assess operations against the two-part test, particularly potential consumer detriment exceeding £45m/£210m thresholds or impacts on FCA objectives.
Enhance internal reviews: Conduct "lessons learned" exercises post-incident to align with FCA's non-statutory approach, reducing escalation risk to formal probes.
No direct firm obligations: This is FCA policy on self-investigation; firms face no new reporting or compliance mandates but should prepare for FCA enquiries if events suggest regulatory system failures.
Document qualitative factors (e.g., vulnerability) in risk assessments to contextualize detriment.

Key Dates

14 November 2025

- Publication date of updated Statement of Policy

Compliance Impact

Urgency: Medium. This update signals FCA's commitment to accountability without imposing new firm-level rules, but it heightens focus on significant failures (£45m+ detriment), potentially leading to public reports exposing industry-wide gaps. Firms with high consumer exposure (e.g., retail-facing) should prioritize as probes, though rare, amplify reputational and remedial risks via Treasury publication.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance Reporting & Disclosure

Asset ManagerBankInsurance

Banking & Credit Investment Management Insurance & Pensions

🇬🇧 FCA Guidance high

January 24th 2026

PS25/23: Tackling non-financial misconduct in financial services

Policy statements

AI Analysis

The FCA's PS25/23 finalizes guidance on tackling **non-financial misconduct (NFM)** in financial services, amending the COCON sourcebook to clarify how serious NFM breaches conduct rules and integrating it into FIT assessments for fitness and propriety. This matters because it aligns rules across banks and non-banks, enhances accountability, deters harmful workplace cultures, and supports FCA objectives like consumer protection and market integrity by ensuring consistent handling of issues like bullying or harassment.

What Changed

- COCON amendments: Expands scope to non-banks for work-related serious NFM involving financial services personnel; provides flowcharts, examples, and factors (e.g., seriousness, pattern, dishonesty,...
FIT sourcebook updates: Integrates NFM into fit and proper tests for employees/senior personnel; firms assess case-by-case without investigating implausible claims or breaching privacy; removes...
Managerial accountability: Relative to knowledge/authority under ICR2; no expansion into purely private life.
Minor tweaks from CP25/18 feedback: New diagrams, employment law alignment, withdrawn burdensome factors.

Suggested Considerations

Review and update policies/handbooks to incorporate COCON/FIT guidance on NFM assessment, including flowcharts and factors for breaches/fitness.
Train HR, compliance, and managers on applying rules consistently, emphasizing seriousness thresholds, case-by-case judgement, and alignment with employment law/privacy.
Enhance regulatory reference processes to disclose past NFM; ensure reporting of serious breaches to FCA.
Assess current NFM handling for gaps (e.g., non-bank alignment); document decision-making to demonstrate fairness/decisiveness.
Firms not to investigate trivial/improbable allegations or overstep privacy laws.

Key Dates

1 September 2026

- New COCON rules and guidance come into force (non-retrospective)

Compliance Impact

Urgency: High – With rules effective 1 September 2026 (9+ months from today), firms have preparation time, but PS25/23 closes FCA's NFM policy work, shifting to supervision/enforcement focus; non-compliance risks enforcement, FIT failures, and reputational damage amid trust-building priorities in FCA Strategy 2025-2030.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance

Asset ManagerBankInsurance

🇬🇧 FCA Guidance medium

January 24th 2026

CP26/2: Financial Services Compensation Scheme – Management Expenses Levy Limit 2026/27

Consultation papers

AI Analysis

The FCA and PRA are consulting on setting the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) at £113 million for 2026/27, comprising a £108 million management expenses budget (up £4.4 million from 2025/26, broadly in line with inflation) and a £5 million unlevied reserve. This matters because it caps the operating costs (e.g., IT, staff, legal, claims handling) that FCA- and PRA-authorised firms must fund via levies, excluding separate compensation payments, ensuring FSCS efficiency while controlling firm burdens.

What Changed

- Proposed MELL of £113 million for 2026/27: £108 million budget + £5 million unlevied reserve.
Budget increase of £4.4 million (4%) from 2025/26, aligned with inflation; excluding new revolving credit facility (RCF) enhancement costs, it reflects a £6.6 million nominal and £11 million...
Budget allocated across PRA and FCA fee blocks based on firms' regulated business volume, with smaller firms contributing less.
No changes to compensation levies, which remain separate and forecast at £342 million total levy including compensation.

Suggested Considerations

Review CP26/2 (FCA) and CP1/26 (PRA) alongside FSCS January 2026 Budget Update for allocation details.
Submit feedback on proposed MELL by 10 February 2026 to PRA (email or 20 Moorgate, London EC2R 6DA).
Budget for potential levy payments starting 1 April 2026, based on firm's share of PRA/FCA classes (see Appendix 4 in CP).
Monitor post-consultation Policy Statement/Handbook Notice for final MELL confirmation.

Key Dates

13 January 2026

- Consultation opens (CP26/2 FCA; CP1/26 PRA)

10 February 2026

- Consultation closes; submit comments via email or post to PRA (accepted on behalf of both regulators, shared anonymously with FSCS)

1 April 2026

- Final rules effective (start of FSCS financial year); PRA Policy Statement and FCA Handbook Notice expected post-consultation

31 March 2027

- MELL period ends

Compliance Impact

Urgency: Medium - Firms face predictable levy increases aligned with inflation, with levies allocated by business volume (minimal for small firms), but must act on consultation feedback by 10 February 2026 (today is 25 January 2026, leaving ~2 weeks). Matters for financial planning and budgeting, as MELL ensures FSCS operational funding without covering volatile compensation costs; failure to engage risks unaddressed cost concerns in final rules.

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

BankInsuranceAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News

January 24th 2026

With 40 Participants, SAMA Receives a Delegation from the Hong Kong Academy of Finance

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News medium

January 24th 2026

SAMA’s Decision on Repo and Reverse Repo Rates

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankWealth Manager

🇸🇦 SAMA News high

January 24th 2026

SAMA Revokes the License of “Fas Finance Company”

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News

January 24th 2026

SAMA Hosts the FSB Plenary Meeting and EMDEs Forum

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇸🇦 SAMA News

January 24th 2026

SAMA Hosts BIS Innovation Summit

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Operational Resilience / Outsourcing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News medium

January 24th 2026

SAMA Licenses “Madd Balas” Company to Provide Debt-Based Crowdfunding Solutions

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Prudential / Capital Requirements

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News low

January 24th 2026

Governor of SAMA: 2026 Budget Aims to Enhance Sustainable Economic Growth in the Kingdom

Sectors:

Topics:

ESG Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

ASIC cancels Australian financial services licence of Velos Global Markets Pty Ltd

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Prudential / Capital Requirements

Broker DealerWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC finds many auditors failing to demonstrate compliance with auditor independence obligations

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇦🇺 ASIC News high

January 24th 2026

Victorian man sentenced in Cann Group insider trading case

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇦🇺 ASIC News medium

January 24th 2026

ASIC Annual Forum to focus on the challenges of a rapidly evolving economy as it returns to Melbourne in November

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Operational Resilience / Outsourcing

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Investment Management

🇦🇺 ASIC News high

January 24th 2026

ASIC’s annual report reveals strong growth in enforcement action and investigations and keen focus on strengthening markets

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC bans former Lighthouse Partners director Timothy Archibald for 10 years for fees for no service conduct

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance Authorisation & Licensing

Wealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

ASIC cancels AFS licence of CPG Research & Advisory for ceasing business operations and unpaid industry funding levies

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Consumer Protection / Conduct

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC flags risks in offshore outsourcing after review identifies governance gaps

Sectors:

Topics:

Operational Resilience / Outsourcing Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Federal Court orders remaining ALAMMC Group companies wound up

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News low

January 24th 2026

Two former Statewide Super executives acquitted on charges of dishonesty offences

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Directors of Perth-based financial services company charged over five-year failure to lodge financial accounts with ASIC

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Senior Managers / Governance

BankWealth ManagerAll Firms

🇦🇺 ASIC News medium

January 24th 2026

Collection agency company director loses appeal against conviction for obtaining a financial advantage by deception

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

Queensland director sentenced for making a false or misleading statement to ASIC

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC cancels licence of Wealth Trail Pty Ltd (In Liquidation)

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Wealth ManagerAll Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇺 ASIC News high

January 24th 2026

RAMS penalised $20 million for widespread compliance failings regarding home loans

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC secures interim court orders barring Ferras Merhi from financial services activities

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

Wealth ManagerAsset ManagerBank

🇦🇺 ASIC News high

January 24th 2026

ASIC bans former Crown Wealth Group director Brendan Rodwell for failing to report fees for no service conduct

Sectors:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

Topics:

Wealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Construction industry director charged with breach of director’s duties and providing false and misleading documents

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Perth fraudster Chris Marco sentenced to 14 years imprisonment

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

ASIC highlights financial reporting and audit findings for FY 2024–25 as part of expanded program of work

Sectors:

Topics:

Reporting & Disclosure ESG Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC cancels AFS licence of Arrumar Private for licence failures

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

🇦🇺 ASIC News medium

January 24th 2026

ASIC cancels Australian credit licence of GS-APAC Pty Ltd

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News low

January 24th 2026

Charges against Dean Scook, former officer of Rock Mining Australia Limited, have been discontinued

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Freezing orders against Gregory Cotton and First Mutual Private Equity continue

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC review raises fresh concerns over risks to retirement savings from poor SMSF advice

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

Asset ManagerWealth ManagerBank

🇦🇺 ASIC News high

January 24th 2026

ASIC successfully defends special leave application to the High Court by Cigno Australia director Mark Swanepoel and BSF Solutions director Brenton Harrison

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

FintechAll Firms

🇦🇺 ASIC News high

January 24th 2026

ASIC drives car finance providers to improve consumer outcomes

Sectors:

Consumer Protection / Conduct Reporting & Disclosure

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Mansa Group director sentenced to imprisonment for more than four years for forgery and dishonesty offences

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇺 ASIC News high

January 24th 2026

ASIC disqualifies NSW hospitality director for five years

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Investment Management Insurance & Pensions

🇦🇺 ASIC News high

January 24th 2026

ASIC announces 2026 enforcement priorities

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

Infrabuild companies pay infringement notices for failing to lodge financial reports on time

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Prudential / Capital Requirements

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

QLD shadow director charged with $8m debt factoring fraud involving Bunnings Warehouse

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇺 ASIC News high

January 24th 2026

Former director of private lending companies permanently banned over fraud conviction

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Prudential / Capital Requirements

BankFintechAll Firms

🇦🇺 ASIC News high

January 24th 2026

ASIC issues DDO stop order against City Finance Lending Pty Ltd

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

FintechBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Banned SMSF Auditor charged with continuing to act whilst disqualified and falsifying documents

Sectors:

Topics:

AML / Financial Crime Authorisation & Licensing Senior Managers / Governance

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC takes contempt action against David McWilliams and Laura Fullarton over alleged freezing order breaches

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerFintech

🇦🇺 ASIC News medium

January 24th 2026

ASIC suspends AFS licence of Focused Financial Advice following failure to replace key person

Sectors:

Authorisation & Licensing Prudential / Capital Requirements

Topics:

Wealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC calls on Australian companies to adopt better practices to protect whistleblowers

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC issues over $2.2 million in infringement notices to 12 large proprietary companies for alleged failure to lodge financial reports

Sectors:

Topics:

Reporting & Disclosure Authorisation & Licensing Consumer Protection / Conduct

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News

January 24th 2026

Former CEO of Bruck Textile Technologies has conviction overturned following appeal

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAll Firms

🇦🇺 ASIC News high

January 24th 2026

Business lender and loan introducer together penalised $515,000 over credit law breaches

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintech

🇦🇺 ASIC News critical

January 24th 2026

ASIC announces transformational package to safeguard Australia’s financial markets in response to ASX Inquiry interim report

Sectors:

Operational Resilience / Outsourcing Prudential / Capital Requirements Authorisation & Licensing

Topics:

BankBroker DealerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC renews guidance on managing conflicts of interest in financial services

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC cancels AFS licence of Rynco Pty Ltd

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Consumer Protection / Conduct

Asset ManagerWealth ManagerBank

🇦🇺 ASIC News high

January 24th 2026

CADB cancels registration of Sydney auditor for breaching duties across 10 ASX-listed audits

Sectors:

Authorisation & Licensing Reporting & Disclosure Senior Managers / Governance

Topics:

BankBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Federal Court orders $925,000 in penalties against RM Capital and SMSF Club for conflicted remuneration breaches

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Federal Court orders $250 million combined penalties against ANZ

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇦🇺 ASIC News high

January 24th 2026

Pump and dump scammers put regulators on high alert

Sectors:

Topics:

Market Abuse / Surveillance Consumer Protection / Conduct Reporting & Disclosure

Broker DealerFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

ASIC sues BDO Audit and its director Dean Just alleging materially false or misleading audit reports

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankWealth Manager

🇦🇺 ASIC News medium

January 24th 2026

ASIC suspends Australian credit licence of Transitional Funding Pty Ltd

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

All Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News high

January 24th 2026

Directors of collapsed agri-businesses linked to corruption scandal disqualified for maximum 5-year period

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News medium

January 24th 2026

Richard Ernest Auricht’s liquidator registration cancellation overturned on appeal, substituted with five-year suspension

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Consumer Credit Mortgage & Lending

🇦🇺 ASIC News high

January 24th 2026

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

BankFintech

Banking & Credit Investment Management Capital Markets & Trading

🇭🇰 SFC News high

January 21st 2026

SFC obtains $595 million compensation order and disqualification orders up to 15 years against three former directors and senior executives of Superb Summit International Group Limited

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankBroker DealerAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇯🇵 JFSA News medium

January 20th 2026

Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of State for Financial Services (January 9, 2026)

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇯🇵 JFSA Speech

January 20th 2026

Others,Remarks by Minister KATAYAMA at the event “Japan’s Turn” of the 56th Annual Meeting of the World Economic Forum

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Wealth & Private Banking Payments & E-Money

🇱🇺 CSSF News medium

January 20th 2026

Publication of the update of the ML/FT Sub-Sector Risk Assessment on Specialised Professionals of the Financial Sector providing corporate services (trust and company service provider activities)

No description available.

Sectors:

Topics:

AML / Financial Crime Authorisation & Licensing Reporting & Disclosure

BankWealth ManagerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News medium

January 20th 2026

Resolution Reporting Requirements - track changes

No description available.

Sectors:

Topics:

Reporting & Disclosure Prudential / Capital Requirements Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇱🇺 CSSF News high

January 20th 2026

BaFin product intervention regarding turbo certificates

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankBroker DealerAsset Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 SEC News medium

January 20th 2026

Keith E. Cassidy Named Director of the Division of Examinations

The Securities and Exchange Commission today announced that Keith E. Cassidy has been appointed Director of the Division of Examinations. Mr. Cassidy has served as Acting Director since May 2024 and previously was the division’s Deputy Director, Acting…

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Senior Managers / Governance

BankBroker DealerAsset Manager

Payments & E-Money Banking & Credit Capital Markets & Trading

🇬🇧 FCA policy_statement high

January 20th 2026

Regulators give clarity in relation to open banking pricing models

We have issued a joint statement with the Payment Systems Regulator (PSR) giving clarity on open banking pricing models. We and the PSR have issued the following statement (PDF).This confirms we will not, at this stage, prioritise a Competition Act 1998 (CA98) investigation into the centralised ‘access fee’ pricing model being developed by the UK Payments Initiative (UKPI) for commercial Variable Recurring Payments (cVRPs). cVRPs are an emerging open banking technology that allow consumers to...

AI Analysis

The FCA and PSR have jointly confirmed they will not prioritize a Competition Act 1998 investigation into the UK Payments Initiative's (UKPI) centralized access fee pricing model for commercial Variable Recurring Payments (cVRPs), with the CMA's concurrent agreement. This regulatory clarity provides temporary certainty for cVRP development ahead of anticipated legislation by end-2026, creating a critical window for firms to develop compliant commercial models in this emerging open banking technology.

What Changed

The regulatory statement establishes the following key positions:
Non-prioritization of CA98 investigation: The FCA, PSR, and CMA have jointly confirmed they will not prioritize competition law enforcement against UKPI's centralized access fee model for Phase...
Scope limitation: The regulatory clarity applies only to Phase 1/Wave 1 of UKPI's cVRP scheme, specifically addressing lower-risk payment use cases including regulated financial services, utilities,...
Temporary framework: This is explicitly a temporary measure pending legislative implementation under the Data (Use and Access) Act 2025 or other relevant legislation.
Regulatory monitoring obligations: During the interim period, the FCA and PSR will monitor market developments, review pricing methodology changes, and require UKPI to submit finalized governance...

Suggested Considerations

*For UKPI and participating firms:
*Governance documentation: Submit finalized governance documents to FCA/PSR as required during the interim period
*Pricing methodology transparency: Maintain detailed records of access fee pricing methodology and be prepared to demonstrate compliance with the agreed model; notify regulators of any material changes
*Phase 1/Wave 1 compliance: Ensure all cVRP offerings remain within the defined scope of lower-risk use cases during Phase 1/Wave 1
*Market engagement: Participate in FCA industry consultations throughout 2026 regarding progress, service delivery, and identified blockers

Key Dates

Q1 2026

- Expected first live UKPI cVRP payments

End of 2026

- Government anticipated to introduce legislative framework granting FCA new open banking powers

15 January 2026

- FCA and PSR wrote to CMA setting out their non-prioritization position

16 January 2026

- CMA confirmed alignment with FCA/PSR position on CA98 prioritization

20 January 2026

- Joint FCA/PSR statement issued on open banking pricing models

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Points to Consider

The FCA and PSR have issued a joint statement providing clarity on open banking pricing models, specifically regarding the centralised 'access fee' pricing model for commercial Variable Recurring Payments (cVRPs). This statement confirms that they will not prioritize a Competition Act 1998 investigation into this model at this stage. The goal is to support the development of cVRPs, giving consumers more control over their payments and lowering processing fees for businesses.

AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Technology & Cyber

BankFintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇯🇵 JFSA News medium

January 20th 2026

Publication,FSA Weekly Review No.671 January 20, 2026

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerWealth Manager

🇱🇺 CSSF Guidance high

January 20th 2026

Circular CSSF 26/905

Application of the Guidelines of the European Banking Authority on the management of environmental, social and governance (ESG) risks (EBA/GL/2025/01)

AI Analysis

Circular CSSF 26/905 mandates the application of EBA Guidelines (EBA/GL/2025/01) on managing **ESG risks** for Luxembourg-supervised institutions, requiring integration of environmental, social, and governance risk identification, measurement, management, and monitoring into internal processes. This aligns with CRD amendments (Articles 74, 76, 87a) and emphasizes proportionality to institutions' business models, with plans including timelines, targets, and milestones toward EU climate goals like net-zero by 2050. It matters for compliance as it embeds ESG into prudential supervision, potentially impacting capital, risk frameworks, and supervisory reviews.

What Changed

- Institutions must establish proportionate strategies, policies, processes, and systems for ESG risk management, covering short-, medium-, and long-term horizons, including transition and physical...
Develop plans per Article 76(2) CRD with specific timelines, intermediate quantifiable targets, and milestones to address ESG financial risks, consistent with EU objectives (e.g., 55% GHG reduction...
Incorporate ESG into internal governance, risk appetite, and supervisory review processes (SREP), with scenario analysis requirements (to be detailed in future EBA guidelines).
Applies minimum standards and methodologies for ESG risk identification, measurement, monitoring, and impact assessment on institutions' exposures.
No requirement for full alignment with specific sustainability trajectories, but plans must consider transition risks and institutions' ESG product offerings, loan policies, and targets.

Suggested Considerations

Map and integrate ESG risks into governance, risk management frameworks, and business strategies, proportionate to scale/risk exposure.
Develop and document ESG risk management plans with quantifiable targets, milestones, timelines, and scenario analyses (broad requirements now; detailed later).
Conduct assessments of ESG risks in portfolios, including sustainability products, transition finance, and loan origination policies, for SREP submission.
Embed in internal processes per Articles 74, 76, 87a CRD: identify/measure ESG risks (minimum standards), monitor over time horizons, and report to CSSF.
Review and update existing policies/systems for compliance by applicable dates; prepare for CSSF supervisory evaluation of plan robustness.

Key Dates

20 January 2026

- Circular published by CSSF

1 April 2026

- Application date for Less Significant Institutions (other than SNCIs)

11 January 2027

- Application date for SNCIs (dependent on CRD transposition)

Compliance Impact

Urgency: High - With application starting 1 April 2026 (just over 2 months from publication), firms face immediate pressure to gap-analyze current ESG frameworks against EBA standards, especially for SREP integration and long-term risk planning. Non-compliance risks supervisory scrutiny, capital add-ons, or enforcement, as ESG is now a core prudential pillar amid EU sustainability push; smaller institutions get a head-start but must act swiftly given proportionality demands.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

ESG Prudential / Capital Requirements Senior Managers / Governance

Topics:

BankAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

January 20th 2026

The AMF publishes the findings of its inspections on the role and involvement of the compliance function at investment services providers

Supervision Compliance Journalists Investment services providers The AMF publishes the findings of its inspections on the role and involvement of the compliance function at investment services providers

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 PRA policy_statement high

January 20th 2026

PS1/26 – Implementation of Basel 3.1: Final rules

Policy statement 1/26

AI Analysis

PS1/26 represents the UK Prudential Regulation Authority's final implementation framework for the Basel 3.1 international banking standards, effective 1 January 2027 (with market risk internal models delayed to 1 January 2028). This policy statement establishes mandatory capital, credit risk, operational risk, and market risk requirements for UK-regulated banks, building societies, and investment firms, addressing post-financial crisis shortcomings in risk-weighted asset (RWA) calculations and capital adequacy frameworks.

What Changed

Credit Risk Framework
Implementation of restrictions on Internal Ratings-Based (IRB) approach scope, effective 1 January 2027, with firms required to reclassify certain exposures (e.g., slotting approach IPRE exposures)...
Minor clarifications and amendments to the Standardised Approach and credit risk mitigation techniques. Operational Risk
Updated Business Indicator Component (BIC) calculation methodology requiring inclusion of the current financial year in the three-year average calculation (or an estimate if unavailable).
Clarifications on legal risk treatment and loss data set dates. Market Risk (Fundamental Review of the Trading Book – FRTB)

Suggested Considerations

*Immediate (by mid-2026)
*Conduct impact assessment: Quantify RWA changes under Basel 3.1 across credit risk, operational risk, and market risk frameworks.
*Review IRB permissions: Identify exposures requiring reclassification (e.g., IPRE to HVCRE) and prepare permission amendment applications.
*Assess FRTB-IMA readiness: For firms with existing IMA permissions, evaluate transition strategy for out-of-scope positions moving to ASA/SSA during interim period (2027–2027).
*Arrange board-level assurance: Establish governance framework for board oversight of RWA calculation accuracy and Basel 3.1 implementation.

Key Dates

20 January 2026

– PRA publishes PS1/26 (final rules)

2026 ICAAP submission deadline DEADLINE

– Must include Basel 3.1/SDDT impact assessment

1 January 2027

– Effective date for Basel 3.1 implementation (credit risk, operational risk, reporting/disclosure, IRB scope restrictions, SDDT regime)

1 January 2027

– Interim period begins for FRTB-IMA transition; existing IMA permissions retained; out-of-scope positions move to ASA/SSA

1 January 2028

– FRTB-IMA implementation effective date

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Points to Consider

The Prudential Regulation Authority (PRA) has published the final rules for the implementation of Basel 3.1 standards in the UK, with an effective date of January 1, 2027. The rules aim to enhance the resilience of banks and improve the stability of the financial system. Firms must review and update their policies and procedures to ensure compliance with the new requirements.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Senior Managers / Governance

BankBroker DealerAsset Manager

🇬🇧 PRA Enforcement high

January 20th 2026

PS2/26 – Retiring the refined methodology to Pillar 2A – final

Policy Statement 2/26

AI Analysis

The PRA's PS2/26 finalizes the retirement of the "refined methodology" in Pillar 2A capital requirements, effective 1 January 2027, aligning with Basel 3.1 implementation to simplify the framework by eliminating an operationally burdensome adjustment originally designed to address conservatism in the standardized approach (SA) to credit risk. This matters for compliance professionals as it reduces complexity in ICAAP and SREP processes, with expected neutral aggregate capital impact, though firm-specific effects may vary and require supervisory engagement.

What Changed

- Retirement of refined methodology: The refined methodology, introduced in 2018 (PS22/17) to mitigate perceived conservatism in CR SA relative to IRB for lower-risk assets, is fully retired from...
Amendments to SS31/15: Updates to Supervisory Statement 31/15 on ICAAP and SREP (Appendix 1), including minor prior adjustment to paragraph 5.12A for SDDTs reflecting no need for Interim Capital...
No further changes from near-final: Confirms PS18/25 near-final policy without alterations; defers certain IRRBB clarifications pending separate review.
Rationale: Reduces operational burden on firms and PRA; PRA analysis shows broadly neutral impact on total capital requirements (TCR), with ~50% of affected firms seeing reductions.

Suggested Considerations

Review and update ICAAP/SREP processes: Firms must integrate retirement into internal capital adequacy assessments, removing refined methodology calculations from Pillar 2A by 1 January 2027.
Recalculate Pillar 2A requirements: Model impacts using Basel 3.1 CR SA; engage PRA supervisors for firm-specific transitions if capital increases anticipated (PRA will apply judgement).
Align with related frameworks: Implement alongside Basel 3.1 (PS1/26), CRR restatement (PS3/26), and SDDT regime (PS4/26); update systems, policies, and disclosures accordingly.
Monitor firm-specific impacts: Conduct quantitative analysis per PRA's refreshed data; half of firms may see TCR reductions, but prepare for potential increases.
Governance and reporting: Board/Senior Managers to oversee transition; ensure 2027 SREP readiness without refined methodology proxy.

Key Dates

2024

CP9/24 consultation on streamlining Pillar 2A, including proposal to retire refined methodology

28 October 2025

PS18/25 near-final policy published

20 January 2026

PS2/26 final policy published

1 January 2027

Effective date for retirement of refined methodology; aligns with Basel 3.1 implementation (PS1/26), CRR restatement (PS3/26), and SDDT simplified regime (PS4/26)

Compliance Impact

Urgency: High – With less than 11 months to 1 January 2027 effective date (as of January 2026 publication), firms face immediate need to remodel Pillar 2A under Basel 3.1, potentially affecting capital planning, stress testing, and regulatory reporting. Non-compliance risks supervisory scrutiny during SREP; benefits include workload simplification, but SA-only firms must validate no undue conservatism gaps versus IRB peers.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Points to Consider

The Prudential Regulation Authority (PRA) has finalized the policy to retire the refined methodology to Pillar 2A, which will take effect on January 1, 2027, aligning with the implementation of the Basel 3.1 standards. This change affects all PRA-regulated banks, building societies, and designated investment firms. The refined methodology will no longer apply to these firms, including Small Domestic Deposit Takers (SDDTs), as they will be subject to the Basel 3.1 standardized approach to credit risk.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 PRA policy_statement high

January 20th 2026

PS3/26 – Restatement of CRR requirements – 2027 implementation – final

Policy statement 3/26

AI Analysis

PS3/26 is the PRA's final policy statement restating the remaining provisions of the UK Capital Requirements Regulation (CRR) into the PRA Rulebook and related policy materials, effective 1 January 2027. This represents a critical step in the UK's transition away from assimilated EU law, consolidating fragmented regulatory requirements into a unified domestic framework while introducing targeted amendments to securitisation rules and External Credit Assessment Institution (ECAI) mapping.

What Changed

Restatement of CRR Provisions The PRA is transferring remaining CRR requirements from the UK CRR into the PRA Rulebook without material changes to policy substance, except for targeted securitisation...
New: SS4/24 (Credit risk: Internal Ratings Based Approach), SS3/24 (Credit risk definition of default), SoP6/25 (Internal Model Method permissions), SoP7/25 (Securitisation waivers and permissions),...
Amended: SS15/13 (Groups), SS9/13 (Securitisation: Significant Risk Transfer), SS10/18 (Securitisation: General requirements), and SS10/13 (Credit risk: Standardised Approach) ECAI Mapping...

Suggested Considerations

*Immediate (by Q2 2026):
*Review applicability: Determine whether your firm falls within the scope of PS3/26 (banks, building societies, designated investment firms, or financial holding companies)
*Assess impact: Analyse how the restatement affects your current compliance framework, particularly regarding credit risk (IRB and standardised approaches), securitisation, and ECAI mapping
*Identify policy changes: Review the new and amended supervisory statements (SS3/24, SS4/24, SoP6/25, SoP7/25, SoP8/25) to understand expectations for permissions, waivers, and model approvals
*Medium-term (by Q3 2026):

Key Dates

28 October 2025

- PS19/25 (near-final policy) published

20 January 2026

- PS3/26 final policy statement published

1 January 2027

- All policies take effect; HM Treasury commencement regulations revoke relevant CRR provisions and replace them with PRA Rulebook rules and policy materials

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Points to Consider

The Prudential Regulation Authority (PRA) has published a policy statement (PS3/26) that restates the remaining relevant provisions in the Capital Requirements Regulation (CRR) within the PRA Rulebook and other policy materials. This change aims to ensure that the PRA's rules and policies are consistent with the UK's withdrawal from the EU. The policy statement is relevant to PRA-authorised banks, building societies, and other financial institutions.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankBroker DealerAsset Manager

🇬🇧 PRA policy_statement high

January 20th 2026

PS4/26 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – final

Policy statement 4/26

AI Analysis

PS4/26 finalizes the **simplified capital regime for Small Domestic Deposit Takers (SDDTs)**, a tailored prudential framework designed to reduce regulatory burden while maintaining capital resilience for smaller, domestically-focused UK banks and building societies. This represents the completion of Phase 1 of the PRA's "Strong and Simple" initiative and introduces materially lighter capital, liquidity, and reporting requirements for qualifying firms, with implementation effective January 1, 2027.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Points to Consider

The Prudential Regulation Authority (PRA) has introduced a simplified capital regime for Small Domestic Deposit Takers (SDDTs) to reduce regulatory complexity while maintaining adequate capital. The new regime will take effect on 2027-01-01. This change aims to simplify capital requirements for smaller banks and building societies.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

Topics:

Bank

Banking & Credit Wealth & Private Banking Consumer Credit

🇱🇺 CSSF News medium

January 20th 2026

ML/FT Sub-Sector Risk Assessment on Specialised Professionals of the Financial Sector providing corporate services (trust and company service provider activities) (Updated)

2026 update

Sectors:

Topics:

AML / Financial Crime Authorisation & Licensing Senior Managers / Governance

BankWealth ManagerFamily Office

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

January 20th 2026

Resolution Reporting Requirements (Updated)

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News low

January 20th 2026

Deactivated validation rules and EBA small validation packages COFREP (Updated)

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇬🇧 FCA News medium

January 19th 2026

Applications now open for next round of FCA’s AI Live Testing

We have opened applications for the second cohort of our AI Live Testing service. AI Live Testing is the first of its kind in the financial sector to help firms who are ready to use AI in UK financial markets. Participating firms receive tailored support from our regulatory team and our technical partner Advai to develop, assess and deploy safe and responsible AI.The service helps firms to consider key questions around evaluating AI including governance, risk management and monitoring to help...

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Consumer Protection / Conduct

BankFintechAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News

January 19th 2026

Sharon Donnery: The ECB’s approach to simplification in banking regulation and supervision

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

January 19th 2026

Tribunal upholds ban and fines for corrupt and dishonest adviser

The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal. The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal.Mr Reynolds was dishonest when he gave pension transfer advice and investment recommendations to his customers, causing them significant harm.Mr Reynolds showed a clear disregard for his customers’ intere...

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Senior Managers / Governance

Wealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇸🇦 SAMA News medium

January 16th 2026

SAMA Decision on Repo and Reverse Repo Rates

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankWealth Manager

🇸🇦 SAMA News medium

January 16th 2026

SAMA Updates Implementing Regulation of Finance Companies Control Law

Sectors:

Prudential / Capital Requirements Authorisation & Licensing

Topics:

BankFintechPayment Provider

🇸🇦 SAMA News medium

January 16th 2026

SAMA Issues Fees Guide for Financial Institutions’ Services

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankPayment Provider

🇸🇦 SAMA News low

January 16th 2026

SAMA Introduces Electronic Check Clearing System (ECCS) Service on its Website

Sectors:

Operational Resilience / Outsourcing Technology & Cyber

Topics:

BankFintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

ADGM Academy Hosts groundbreaking activities under the theme “Bridging Knowledge & Building the Nation” at ADFW 2025

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

‘Courage’ Takes Centre Stage at RESOLVE 2025 as Experts Tackle Dispute Resolution in a Digital Era

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Consumer Protection / Conduct

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

J.P. Morgan accelerates growth with full-scale Treasury services in ADGM

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing Technology & Cyber

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News medium

January 16th 2026

USD 9 Trillion in Assets Commit to ADGM as Abu Dhabi Finance Week Redefines Global Capital Flows

Sectors:

Topics:

Authorisation & Licensing ESG Technology & Cyber

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

UAE Sustainable Finance Working Group Publishes Fourth Statement During Abu Dhabi Finance Week 2025

Sectors:

Topics:

ESG Reporting & Disclosure Authorisation & Licensing

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News medium

January 16th 2026

ADGM Registration Authority Publishes New Commercial Permits Rules for Events, Sales and Promotions and Temporary Commercial Activity

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Operational Resilience / Outsourcing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

ADFW 2025 Delivers its Most Successful Edition, Showcasing Abu Dhabi’s Next Decade of Growth with Over 35,000 Attendees

Sectors:

Topics:

Authorisation & Licensing ESG Technology & Cyber

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

APIAC and Opus 2 Announce Office Openings in the ADGM Dispute Resolution Hearing Centre as Abu Dhabi’s Dispute Resolution Community Expands

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News

January 16th 2026

Bank of Palestine Expands Globally after Receiving an In-Principle Approval for a Full Banking License from ADGM Abu Dhabi, UAE

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Operational Resilience / Outsourcing

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News high

January 16th 2026

ADGM’s FSRA issues alert concerning fraudulent scheme and false and misleading claims - SGV Advisory FZ LLC or Strategic Global Ventures

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 ADGM News low

January 16th 2026

ADGM’s Registration Authority Reshapes Services in the Real Estate Sector

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇦🇺 ASIC News

January 16th 2026

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintech

Crypto & Digital Assets Banking & Credit Consumer Credit

🇩🇪 BaFin News high

January 16th 2026

Paragonix Edge: BaFin warns consumers about further Paragonix Edge websites

The Federal Financial Supervisory Authority (BaFin) warns consumers about “Paragonix Edge” and the services it is offering. BaFin suspects the unknown operators of the websites paragonixedge(.)org, hhessel(.)com, funkmp(.)com und altenweerth(.)com of offering consumers cryptoasset services without the required authorisation.

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct AML / Financial Crime

Crypto ExchangeBankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇭🇰 SFC Speech

January 16th 2026

New speech by Kelvin Wong: Speech at the Hong Kong Chartered Governance Institute’s Annual Reception 2026

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Senior Managers / Governance

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

January 16th 2026

FragFinanz: BaFin warns against offers on website fragfinanz(.)com

The Federal Financial Supervisory Authority BaFin warns against offers on website fragfinanz(.)com. According to information available to BaFin, banking transactions, especially fixed-term deposits, financial or investment services are being provided by FragFinanz without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechAll Firms

🇮🇪 CBI Warning high

January 16th 2026

Communiqué

AI Analysis

The CSSF's January 2026 enforcement report documents the results of its 2025 examination campaign on 2024 financial and non-financial disclosures by issuers under Luxembourg's Transparency Law. This publication is critical for compliance professionals because it reveals systematic compliance gaps across financial reporting (IFRS), sustainability reporting (ESRS), and Alternative Performance Measures (APMs), with 27% of enforcement decisions resulting in injunctions for non-compliance.

What Changed

The regulatory landscape has evolved significantly with the introduction of new sustainability reporting requirements:
ESRS Implementation (First Year): 2024 marked the first full reporting year under the European Sustainability Reporting Standards (ESRS), with the CSSF conducting a fact-finding exercise to assess...
Taxonomy Disclosures Amendment: On 4 July 2025, the European Commission adopted a Delegated Act amending the Taxonomy Disclosures as part of the Omnibus package, affecting Article 8 of the Taxonomy...
Double Materiality Assessment (DMA) Focus: The CSSF emphasized the importance of issuers not only disclosing the results of their DMA but also explaining the process itself, including granular...

Suggested Considerations

*Financial Information (IFRS):
*Enhanced Note Disclosures: Provide sufficient disaggregation and additional information in financial statement notes for material amounts and variances, particularly where information is not presented on the face of primary statements. The CSSF emphasizes compliance with paragraph 112(c) of IAS 1.
*Cash Flow Statement Presentation: Ensure cash flows are presented on a gross basis (not net), exclude non-cash transactions, and disclose restricted cash balances with accompanying management commentary as required by paragraph 48 of IAS 7.
*Segment Reporting Completeness: Clearly disclose all income and expense items in segment reporting, even when not separately provided to or reviewed by the Chief Operating Decision Maker (CODM), if they are included in reported segment results.
*Going Concern Assessment: Maintain high transparency regarding accounting policies and judgments applied when classifying going concern assumptions.

Key Dates

5 December 2024

Introduction Good morning and thank you to Michael for inviting me to speak at the Compliance Institute’s Annual General Meeting. It is always a real pleasure to engage with compliance professionals. At the Central Bank, we recognise the essential role played by the compliance community in ensuring that financial firms are well-run and contributing to a financial system that is trusted and resilient. We also recognise the important role played by the compliance institute, equipping those work...

AI Analysis

This speech by Gerry Cross, Director of Capital Markets and Funds at the Central Bank of Ireland (CBI), outlines key supervisory priorities including securing customers' interests via the revised Consumer Protection Code, Individual Accountability Framework (IAF) implementation, regulatory simplification, resilience, technology leverage, and an evolving outcomes-focused supervision approach. It matters because it signals CBI's expectations for compliance professionals to drive these outcomes in firms, emphasizing proportionality and ongoing engagement amid regulatory evolution. Compliance teams must integrate these themes to align with CBI's shift toward less process-driven, more effective oversight.

What Changed

- Revised Consumer Protection Code: Introduces new Standards for Business, building on the Code reviewed with industry input; focuses on delivering good outcomes for consumers and the economy.
Individual Accountability Framework (IAF): Implemented 18 months prior (circa mid-2024); enhances clarity on responsibilities, supports governance, and aligns with outcomes-focused regulation rather...
Supervisory Approach Evolution: Shifting in 2025-2026 to risk-based, outcomes-focused, less process-driven supervision integrated across financial stability, consumer protection, safety/soundness,...
Regulatory Simplification: Openness to reviewing frameworks (e.g., fitness and probity) for simpler, outcomes-based alternatives without compromising effectiveness; supports broader simplification...
Resilience and Technology: Ongoing focus on financial resilience post-reforms, leveraging technology for supervision; no specific new rules but emphasis on embedding these in operations. No new...

Suggested Considerations

Implement Revised Consumer Protection Code: Complete readiness by 24 March 2026; apply new Standards for Business in operations, leveraging CBI workshops for guidance.
Embed IAF: Maintain enhanced responsibility mapping, support decision-making, and engage with CBI on implementation feedback to mature governance.
Adopt Outcomes-Focused Practices: Shift from process-driven to outcomes-based compliance (e.g., customer interests, resilience); review internal frameworks for simplification opportunities.
Engage with CBI: Participate in ongoing consultations, workshops, and stakeholder feedback on supervision evolution, IAF, and Consumer Protection Code.
Leverage Technology: Integrate tech for resilience and compliance efficiency, aligning with CBI's supervisory priorities.

Key Dates

BankCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA policy_statement high

January 14th 2026

UK and EU regulators sign Memorandum of Understanding to strengthen oversight of critical third parties

The FCA, Bank of England and Prudential Regulation Authority have together signed a Memorandum of Understanding (MoU) with the European Supervisory Authorities to enhance cooperation and oversight of critical third parties (CTPs) that fall under the UK’s CTP regime.The MoU establishes a framework for coordinating and sharing information on the oversight of CTPs under the UK regime and critical third party providers (CTPPs) under the EU’s Digital Operational Resilience Act (DORA), including du...

AI Analysis

The FCA, Bank of England (BoE), and Prudential Regulation Authority (PRA) have signed a Memorandum of Understanding (MoU) with the European Supervisory Authorities (ESAs) to coordinate oversight of critical third parties (CTPs) under the UK's CTP regime and critical third party providers (CTPPs) under the EU's Digital Operational Resilience Act (DORA). This matters because it enhances cross-border information sharing and cooperation during incidents like cyber-attacks, reducing regulatory duplication while bolstering financial stability and operational resilience for firms reliant on these providers.

What Changed

- Establishes a framework for timely information sharing, coordination of oversight activities, and joint responses to incidents affecting CTPs/CTPPs, including power outages or cyber-attacks.
Defines principles for cooperation on mutually designated CTPs/CTPPs, including notifications of investigations and best endeavors to share material information where legally and operationally...
Complements the UK's CTP regime (effective 1 January 2025), which requires designated CTPs to provide regular assurance, conduct resilience testing, and report major incidents, without altering...
Supported by a tripartite MoU among UK regulators for coordinated oversight via a joint CTP Consultation and Coordination Forum (CCF).

Suggested Considerations

For CTPs/CTPPs: Once designated, implement regular assurance reporting to regulators, conduct resilience testing (e.g., scenario testing), and report major incidents promptly; prepare for cross-border information requests under the MoU.
For financial firms/FMIs: Continue managing operational resilience and third-party risks per existing outsourcing rules (e.g., identify dependencies on potential CTPs); monitor HMT designations and enhance incident response coordination with regulators.
Regulators' internal actions: Use CCF for coordination; notify counterparts of investigations or material developments per MoU Article 3 and 12.
Firms should review contracts with third parties for compliance alignment and conduct gap analyses against CTP requirements.

Key Dates

AI Analysis

The Swiss Federal Department for Economic Affairs, Education and Research (WBF) updated Annex 2 of the Ordinance on Measures against the Democratic Republic of Congo (SR 946.231.12) on January 12, 2026, modifying the list of sanctioned persons, companies, and organizations, with changes effective January 13, 2026, at 23:00 UTC. This matters for Swiss financial intermediaries as it triggers immediate asset freezing, reporting to SECO, and potential AML checks under the Anti-Money Laundering Act (GwG), ensuring compliance with Switzerland's implementation of international sanctions via the Embargo Act (EmbG).

What Changed

- Amendment to Annex 2 of SR 946.231.12, updating the list of sanctioned individuals, entities, and organizations subject to financial restrictions.
Integration into the SECO Sanctions Management (SESAM) database, with urgent publication on the SECO website.
Reinforcement of prohibitions: asset freezing, ban on making funds available, and reporting of affected business relationships to SECO; does not exempt from GwG Art. 6 due diligence or Art.

Suggested Considerations

Screen client portfolios and transactions against the updated SESAM database immediately upon effectiveness.
Freeze assets of newly listed sanctioned parties and prohibit making funds/resources available.
Report affected business relationships to SECO without delay.
Conduct GwG Art. 6 due diligence on suspicions; file Art. 9 reports to the Money Laundering Reporting Office if unresolved.
Monitor MyFINMA for FINMA alerts and update internal sanctions screening tools.

Key Dates

January 12, 2026

- WBF publishes amendment to Annex 2

January 13, 2026, 23:00 UTC DEADLINE

- Changes enter into force; immediate implementation required

December 12, 2026

- Related EU sanctions extended to this date (Swiss alignment expected)

Compliance Impact

Urgency: High - Immediate effect from January 13, 2026, 23:00 UTC demands rapid screening and freezing to avoid EmbG violations, which can trigger FINMA enforcement (e.g., fines, license actions). Matters due to sanctions lists' frequent updates (e.g., prior May 2024 change) and overlap with AML obligations, heightening financial crime exposure for DRC-linked assets.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Wealth & Private Banking Investment Management

🇨🇭 FINMA Enforcement critical

January 13th 2026

Aktualisierte Sanktionsmeldung: Venezuela

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 1 der Verordnung vom 28. März 2018 über Massnahmen gegenüber Venezuela (SR 946.231.178.5) publiziert.

AI Analysis

On January 13, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 1 of the Ordinance on Measures against Venezuela (SR 946.231.178.5), reflecting changes to the list of designated persons and entities subject to Swiss asset freezing measures. This update is critical for Swiss financial institutions and regulated entities as it directly impacts sanctions compliance obligations and requires immediate verification of client and counterparty lists against the revised designations.

What Changed

The regulatory update modifies the designated persons list under Switzerland's unilateral freezing measures against Venezuela.
Update their sanctions screening systems with revised designations
Identify any existing relationships with newly designated or de-designated persons/entities
Implement immediate asset freezing for any newly added designations
Cease all transactions with blocked parties unless specifically authorized

Suggested Considerations

*Immediate Screening: Conduct comprehensive screening of all client and counterparty databases against the updated Annex 1 designations within 24-48 hours of publication.
*Asset Identification: Identify and document any assets, accounts, or positions held by or on behalf of newly designated persons/entities.
*Freeze Implementation: Immediately freeze all identified assets and block all transactions involving designated parties.
*Notification: Report any blocked assets to SECO as required under Swiss sanctions legislation (typically within 10 business days).
*Transaction Review: Suspend all pending transactions with Venezuela-related counterparties pending compliance verification.

Key Dates

January 5, 2026

- FINMA ordinance on asset freezing (RS 196.127.85) enters into force at 11 a.m., freezing assets of 37 designated persons

January 13, 2026

- SECO publishes updated Annex 1 to SR 946.231.178.5 (the update referenced in your query)

Immediate DEADLINE

- Compliance obligations commence upon publication; no grace period for implementation

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAsset Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇨🇭 FINMA Enforcement high

January 13th 2026

Aktualisierte Sanktionsmeldung: Russland

AI Analysis

The Swiss Federal Department for Economic Affairs, Education and Research (WBF) has published updates to the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), aligning Swiss sanctions with ongoing international restrictions targeting Russia. This matters for Swiss financial institutions as it reinforces asset freezing and economic resource restrictions, heightening compliance risks amid prolonged geopolitical tensions, with the ordinance valid until at least November 2026.

What Changed

The publication announces amendments to SR 946.231.176.72, though specific details in the notice are limited; it signals ongoing refinements to sanctions measures originally enacted on March 4, 2022. Related documentation indicates persistent expansions, such as broader restrictions on Russian energy sector activities (e.g., prohibiting certain services, financing, and transactions), definitions encompassing financial instruments like derivatives, crypto-assets, and securitizations, and prohibitions on asset management or use except for normal administrative actions by financial institutions.

Suggested Considerations

Screen clients, transactions, and assets against updated sanctions lists for Russian/Ukrainian designations, focusing on asset freezing (no management/use except administrative actions) and economic resources (no sales, leasing, or financing).
Block prohibited activities in energy sector, financial services (e.g., derivatives, crypto, guarantees), and related exports/financing; report any frozen assets to authorities.
Update internal policies, screening tools, and training to reflect changes; maintain records of compliance checks and authorizations (if applicable under Article 11).
Monitor FINMA's sanctions page for full ordinance text and related guidance.

Key Dates

Various historical dates (e.g., March 25, 2022 at 23:00; January 25, 2023 at 18:00)

- Prior amendment effective dates, illustrating pattern of rapid implementation

January 13, 2026

- Publication of amendments by WBF, triggering immediate review obligations

November 22, 2026

- Current expiry of ordinance (subject to extension)

Compliance Impact

Urgency: High - Ongoing amendments to this long-standing ordinance (active since 2022) demand immediate screening and blocking to avoid FINMA enforcement, fines, or reputational damage, especially with crypto and energy sector expansions capturing evolving risks. Non-compliance risks asset release violations or facilitation of sanctioned activities, amplified by FINMA's enforcement focus on financial crime.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankPayment ProviderCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News low

January 13th 2026

International central bankers on the statement by Federal Reserve Chair Powell on 11 January 2026

We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Insurance & Pensions Investment Management

🇬🇧 PRA Consultation high

January 13th 2026

CP1/26 – Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2026/27

Consultation paper 1/26

AI Analysis

The PRA and FCA have jointly issued consultation paper CP1/26 proposing to set the **Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) at £113 million for 2026/27**, comprising a £108 million management expenses budget and a £5 million unlevied reserve. This consultation determines the maximum amount the FSCS can levy on authorised financial services firms to fund its statutory compensation scheme operations, directly affecting compliance costs for all regulated entities.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Consumer Protection / Conduct

BankInsuranceAsset Manager

🇱🇺 CSSF News low

January 13th 2026

Register of EU/EEA Mortgage Credit Intermediaries operating in Luxembourg under the freedom to provide services in accordance with the Mortgage Credit Directive 2014/17/EU (Updated)

No description available.

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Bank

🇱🇺 CSSF Enforcement high

January 12th 2026

Population concerned by the enforcement

No description available.

AI Analysis

This CSSF publication, dated January 12, 2026, identifies the specific population (likely a firm or individual) subject to an enforcement action, such as an administrative sanction, as part of the CSSF's transparency in supervisory measures. It matters because it signals CSSF's active enforcement priorities, potentially in areas like AML or reporting failures, enabling firms to assess similar risks in their operations and strengthen compliance to avoid parallel actions. Published amid rising focus on financial crime typologies like sexual extortion, it underscores the regulator's commitment to public accountability.

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

Topics:

BankPayment ProviderAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

January 12th 2026

Commission Delegated Regulation (EU) 2026/46 of 3 December 2025

amending Delegated Regulation (EU) 2016/1675 to add Russia to the list of high-risk third countries with strategic deficiencies

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

January 9th 2026

FCA obtains £265,523.96 confiscation order against Collateral fraudster Andrew Currie

The FCA has secured a confiscation order of £265,523.96 against Andrew Currie. Mr Currie was convicted in 2023 and sentenced to 2 years 6 months imprisonment for defrauding investors through the collapsed peer-to-peer lending platform Collateral (UK) Ltd.He diverted funds from Collateral investors and used them for personal gain, including the purchase of a property in Spain.At a hearing at Southwark Crown Court on 9 January 2026, Mr Currie was ordered to pay £265,523.96. This amount represen...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

January 9th 2026

Finfluencers – Tips for responsible promotion

No description available.

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Reporting & Disclosure

Asset ManagerWealth ManagerBank

Banking & Credit Capital Markets & Trading Wealth & Private Banking

🇭🇰 SFC News high

January 9th 2026

SFC obtains court order to freeze up to $85.2 million of assets belonging to suspect traders of Wan Cheng shares

No description available.

Sectors:

Topics:

AML / Financial Crime Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News medium

January 9th 2026

New DFSA Thematic Review: Conflicts of Interest across DIFC Firms

09 JAN 2026, 09:13 AM New DFSA Thematic Review: Conflicts of Interest across DIFC Firms

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

Asset ManagerWealth ManagerBank

🇩🇪 BaFin Speech high

January 9th 2026

Identity theft: BaFin warns against offers from the email address wise[at]wisefestgeldkonto(.)com

The Federal Financial Supervisory Authority BaFin warns against fixed-term deposit offers sent from the email address wise[at]wisefestgeldkonto(.)com. According to information available to BaFin, the unknown providers are conducting banking transactions without the required authorisation. The offers do not originate from Wise Europe SA. This is a case of identity theft.

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintechPayment Provider

🇩🇪 BaFin News high

January 9th 2026

Identity fraud: BaFin warns against offers on website ellis-ag(.)net

The Federal Financial Supervisory Authority BaFin warns against offers on the website ellis-ag(.)net. According to information available to BaFin, financial or investment services and crypto asset services are being offered on this platform without the required authorisation. According to the current state of knowledge, there is no connection to the Swiss company Ellis AG, Zurich. This is likely to be a case of identity fraud.

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 BoE News medium

January 8th 2026

Asset Purchase Facility: Gilt Sales Amendment – Market Notice 8 January 2026

This Market Notice sets out amendment to the schedule for sales in Q1 2026 of gilts held in the Asset Purchase Facility (APF) for monetary policy purposes.

Sectors:

Topics:

Prudential / Capital Requirements Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerAsset Manager

🇪🇺 ESMA Consultation medium

January 8th 2026

ESAs publish joint Guidelines on ESG stress testing

ESAs publish joint Guidelines on ESG stress testing 08 January 2026 Guidelines and Technical standards Joint Committee The European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published today their Joint Guidelines on environmental, social, and governance (ESG) stress testing . These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducti...

AI Analysis

The European Supervisory Authorities (ESAs)—EBA, EIOPA, and ESMA—published final Joint Guidelines on 8 January 2026 to standardize how national competent authorities (NCAs) integrate ESG risks into supervisory stress testing frameworks for banking and insurance sectors, without mandating new ESG-specific tests. These guidelines promote consistency, long-term methodologies, and common standards across the EU, initially prioritizing climate and environmental risks (physical and transition) before expanding to social and governance factors. They matter for compliance professionals as they shape future supervisory expectations, enhancing resilience assessments and aligning with CRD (Article 100(4)) and Solvency II (Article 304c(3)) mandates, potentially influencing firm-level stress testing preparations.

What Changed

- Standardized Integration of ESG Risks: NCAs must embed ESG risks into existing supervisory stress tests or ad-hoc assessments, using a risk-based materiality assessment to scope relevant risks,...
Methodological and Governance Guidance: Outlines design for ESG-inclusive tests, including objectives (e.g., capital/liquidity robustness, strategy resilience), scenario analysis, and organizational...
No New Obligations: Does not require NCAs to conduct dedicated ESG stress tests, but ensures consistency when they do, improving legal certainty and transparency in approval processes.
Phased Approach: Initial focus on climate/environmental risks, with gradual extension to full ESG coverage based on data and model maturity.

Suggested Considerations

For NCAs: Review and integrate ESG risks into stress testing frameworks via materiality assessments; define objectives, scenarios, and governance; notify ESAs of compliance post-translation; maintain risk-based, phased approach.
For Firms: No direct mandates, but prepare by enhancing internal ESG risk modeling, data collection (especially climate/physical/transition risks), and stress testing capabilities to align with supervisory expectations; conduct voluntary ESG scenario analyses.
General: Monitor NCA implementations, update policies for ESG risk integration in ICAAP/ORSA, and engage in industry feedback on data/methodological gaps.

Key Dates

08 January 2026

Publication of Final Report and Joint Guidelines by ESAs

10 January 2026 DEADLINE

Statutory deadline for ESAs to publish guidelines per CRD Article 100(4) and Solvency II Article 304c(3)

Two months after official EU translations (expected ~March/April 2026) DEADLINE

NCAs notify respective ESAs of compliance or intent to comply

01 January 2027

Application date of Joint Guidelines for NCAs

Compliance Impact

Urgency: Medium. While not imposing immediate firm-level requirements, the guidelines signal escalating supervisory focus on ESG risks from 2027, with potential for more frequent/punitive stress tests; firms delaying ESG integration risk capital/liquidity shortfalls in exercises, amplified by improving data availability and EU sustainability push (e.g., CSRD, SFDR). Proactive preparation mitigates future remediation costs and supports strategic resilience.

References

AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements ESG

Topics:

BankInsurance

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 FCA News medium

January 8th 2026

2026 fines

This page contains information about fines published during 2026. The total amount of fines so far is £371,700. Firm or individual finedDateAmountReasonRichard Adam07/01/2026£232,800The Final Notice refers to knowing concern in breaches of Article 15 of the Market Abuse Regulations, Listing Rule 1.3.3R, Listing Principle 1 and Premium Listing Principle 2.Zafar Khan07/01/2026£138,900The Final Notice refers to knowing concern in breaches of Article 15 of the Market Abuse Regulations, Listing Ru...

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Senior Managers / Governance

BankBroker DealerAsset Manager

🇬🇧 BoE Guidance high

January 7th 2026

Statistical Notice 2026/01 - Bank of England Levy: Deadline for Eligible Liabilities Return form submission for the Levy Year 2026/27

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

This Statistical Notice 2026/01 from the Bank of England specifies the submission deadline for the Eligible Liabilities Return form, which calculates firms' contributions to the Bank of England Levy for the 2026/27 levy year. It matters because non-compliance risks penalties, late fees, or enforcement actions under the Financial Services (Banking Reform) Act 2013, ensuring timely funding for the Bank's resolution and stability functions. Compliance teams must integrate this into levy reporting calendars to avoid operational disruptions.

What Changed

The notice updates definitions and guidance in the Banking Statistics Yellow Folder, focusing on the deadline for submitting the Eligible Liabilities Return (ELR) form for the 2026/27 levy year. It does not introduce new substantive rules but reinforces procedural requirements for accurate levy base calculations, such as eligible liabilities as defined in section 15 of the Financial Services (Banking Reform) Act 2013. No specific changes to levy rates or methodologies are detailed, but it aligns with ongoing updates to banking statistics reporting.

Suggested Considerations

Review and calculate eligible liabilities as of 31 December 2026 using BoE definitions from the Yellow Folder.
Submit completed ELR form electronically via BoE portal by the specified deadline (likely 31 January 2027).
Retain audit trails, supporting data, and reconciliations for potential PRA/BoE queries.
Update internal systems and controls for levy calculation; notify compliance teams if data gaps exist.
Monitor BoE portal for form updates or extensions.

Key Dates

31 January 2027 DEADLINE

- Deadline for submission of Eligible Liabilities Return form for Levy Year 2026/27 (inferred as standard end-January deadline post-levy year-end, aligned with historical BoE notices; confirm via Yellow Folder for exact day)

Compliance Impact

Urgency: High – Missing the submission deadline triggers automatic late penalties (e.g., interest at Bank Rate + 5%) and potential supervisory referrals. This directly impacts prudential reporting obligations, with firms facing cash flow hits from levy payments (historically £200-300m total annually). Prioritize in Q4 2026 planning, as it coincides with year-end reporting under Basel 3.1 transitions.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Deadline: 31 December 2026

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

January 7th 2026

Alpha Blue Capital und Blue Capital: BaFin warns against offers on the websites bluealphafx(.)com and h5.bluealphasystem(.)net, in the app “BCAAT,” and in WhatsApp groups

In the WhatsApp groups, investors are recommended to invest in financial instruments that can then be traded via the platform h5.bluealphasystem(.)net or the aforementioned app.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

BankWealth ManagerFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

January 7th 2026

Cantor: BaFin warns against identity fraud in WhatsApp groups and against app CDAfin

The Federal Financial Supervisory Authority BaFin warns against offers in WhatsApp groups, which are allegedly operated by Cantor Fitzgerald and led by Leopold Schneider. BaFin is not aware of the existence of this person. According to information available to BaFin, recommendations for the purchase of financial instruments and cryptocurrencies, which can allegedly be traded via CDAfin app, are offered in various WhatsApp groups. According to the current state of knowledge, there is no connec...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News

January 7th 2026

Future Banking Data: November CFO Roundtable: summary

On 12 November the PRA hosted a roundtable meeting with Chief Financial Officers (CFOs) of systemically important firms operating in the UK, to discuss Future Banking Data (FBD).

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

January 7th 2026

Capital Holdings: BaFin warns about the website capitalholdings(.)icu

The German Financial Supervisory Authority (BaFin) warns about offers on the website capitalholdings(.)icu. According to information available to BaFin, the unknown operators of the websites are offering banking transactions and financial services without the required authorisation.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

January 7th 2026

Sicherangelegt(.)de: BaFin warns consumers about website

The German Financial Supervisory Authority (BaFin) warns about fixed-term deposit offers from the website sicherangelegt(.)de. According to information available to BaFin, the unknown operators of the website are offering banking services, in particular fixed-term deposits, without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇩🇪 BaFin News high

January 7th 2026

Baird Capital: BaFin warns against identity fraud in WhatsApp groups

The Federal Financial Supervisory Authority BaFin warns against offers in WhatsApp groups, which are allegedly operated by Baird Capital and led by a Thomas Becker. BaFin is not aware of the existence of this person. According to information available to BaFin, recommendations for the purchase of financial instruments and cryptocurrencies are offered in WhatsApp groups and the so-called Baird Capital Investment Program III is being promoted. According to the current state of knowledge, there ...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Crypto & Digital Assets Consumer Credit

🇩🇪 BaFin News high

January 7th 2026

blauline(.)ai: BaFin warns consumers about website

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website blauline(.)ai. BaFin has information that this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

FintechCrypto ExchangeAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

January 7th 2026

FCA fines former finance directors of Carillion plc (in liquidation)

The FCA has fined 2 former finance directors for their part in misleading statements being issued by Carillion plc. Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed to reflect this in company announcements or alert the Board and audit committee, leading to poor oversight.Mr Adam and Mr Khan have been fined £232,800 and £138,900, respectively. The fines were imposed after Mr Adam and Mr Khan withdrew their challenges t...

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

January 6th 2026

The AMF and the ACPR warn the public against several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so

Warning Forex and binary options Warning Savings protection The AMF and the ACPR warn the public against several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 BoE News medium

January 6th 2026

Minutes of the UK Money Markets Code Sub-Committee – December 2025

The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.

Sectors:

Topics:

Prudential / Capital Requirements Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News low

January 6th 2026

PRA Regulatory Digest - December 2025

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

🇩🇪 BaFin News high

January 6th 2026

Bit500: BaFin warns consumers about the website bit500(.)eu

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website bit500(.)eu. BaFin has information that the operators are offering banking business and/or financial services on this website without the required authorisation. The operators are not supervised by BaFin.

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintechCrypto Exchange

🇨🇭 FINMA Enforcement critical

January 5th 2026

New ordinance on the freezing of assets in the context of Venezuela of 5 January 2026

No description available.

AI Analysis

The Swiss Federal Council adopted a new ordinance (RS 196.127.85) on 5 January 2026, mandating the immediate freezing of all assets in Switzerland belonging to Nicolás Maduro and 36 associated persons, under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA). This precautionary measure prevents asset outflows amid Venezuela's political upheaval, complementing existing sanctions since 2018, and enables future mutual legal assistance for potential restitution to the Venezuelan people. It matters for Swiss financial institutions as it imposes immediate reporting and freezing obligations with severe penalties for non-compliance.

What Changed

- Immediate asset freeze: All assets of any kind held by the 37 listed persons (Nicolás Maduro and associates) in Switzerland must be frozen without delay; this targets individuals not previously...
Reporting obligation: Persons and institutions, including financial intermediaries, must report frozen assets or knowledge thereof to the Money Laundering Reporting Office Switzerland (MROS) per FIAA...
Duration: The freeze is valid for four years until 4 January 2030, unless revoked earlier.
Legal basis: Enacted under Article 3 FIAA as a "freeze for mutual legal assistance" post-political change, distinct from but additive to 2018 Venezuela sanctions under the Embargo Act.
Penalties: Non-compliance with freezing may result in up to three years' custody; reporting violations up to CHF 250,000 fine.

Suggested Considerations

Screen and identify: Immediately review client lists, accounts, and transactions against the ordinance annex listing 37 persons; use FINMA's ordinance publication and Classified Compilation of Federal Law.
Freeze assets: Block all assets (funds, securities, real estate, etc.) of listed persons; prevent any transfers, payments, or dealings.
Report to MROS: Notify MROS of frozen assets or relevant knowledge without delay, following FIAA protocols; include details on asset nature, value, and location.
Internal updates: Update compliance systems, screening tools, and PEP/ sanctions databases; train staff on FIAA obligations.
Document compliance: Maintain records of screening, freezes, and reports for potential FINMA audits; monitor for updates via FINMA and Federal Council releases.

Key Dates

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

BankPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News

December 23rd 2025

Minutes of the Meeting of the Court of Directors held on 28 October 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Guidance high

December 23rd 2025

Circular CSSF 25/903

Update of Circular CSSF 24/850 on the practical rules concerning the descriptive report and the self-assessment questionnaire to be submitted on an annual basis by support PFS, as well as the engagement of the réviseurs d’entreprises agréés (approved statutory auditors) of support PFS and practical rules concerning the management letter and the separate report to be drawn up on an annual basis.

AI Analysis

Circular CSSF 25/903 updates Circular CSSF 24/850, refining practical rules for support Professional of the Financial Sector (support PFS) in Luxembourg regarding their annual descriptive report, self-assessment questionnaire, and the roles of approved statutory auditors (réviseurs d’entreprises agréés). It specifies requirements for auditors' engagement, management letters, and separate annual reports. This matters for support PFS as it enhances supervisory oversight, ensures consistent reporting quality, and strengthens internal controls, directly impacting compliance and audit processes amid CSSF's focus on robust PFS supervision.

What Changed

- Updates to Descriptive Report and Self-Assessment Questionnaire: Refines content, format, and submission requirements for support PFS's annual submissions, emphasizing more detailed disclosures on...
Auditor Engagement Rules: Introduces specific practical guidelines for approved statutory auditors, including mandatory scope of work, independence confirmations, and standardized procedures for...
Management Letter and Separate Report: Establishes detailed rules for auditors to issue an annual management letter (addressing findings, recommendations, and remediation) and a separate report for...
Enhanced Documentation and Evidence: Requires support PFS and auditors to provide verifiable evidence (e.g., checklists, testing samples) supporting self-assessments, with stricter CSSF validation...

Suggested Considerations

*Review and Update Processes: Support PFS must map current reporting against new templates in CSSF 25/903 and revise internal procedures for descriptive reports and self-assessments.
*Engage/Confirm Auditors: Select or confirm approved statutory auditors compliant with new engagement rules; execute updated engagement letters incorporating circular requirements by Q4 2025.
*Implement Templates and Testing: Adopt CSSF-provided templates for reports, management letters, and separate reports; conduct sample-based testing of controls as specified.
*Training and Governance: Train compliance/audit teams on changes; ensure board approval of self-assessments and auditor findings.
*Submit on Time: Prepare and file all documents by 30 April deadlines, retaining evidence for CSSF inspections.

Key Dates

30 April (annually) DEADLINE

Submission Deadline; Support PFS must submit descriptive report, self-assessment questionnaire, management letter, and separate auditor report to CSSF by 30 April following the financial year-end (first applicable: 30 April 2026 for FY 2025)

31 December 2025 DEADLINE

Preparation Milestone; Auditors must be engaged and initial scoping completed by year-end 2025 for FY 2025 compliance

1 January 2026

Effective Date; Applies to annual reporting cycles starting for financial year 2025 onwards

Compliance Impact

Urgency: High. This is high urgency for support PFS due to the impending 30 April 2026 deadline for FY 2025 submissions, with non-compliance risking supervisory fines, license reviews, or reputational damage under CSSF's PFS enforcement regime. It matters as it tightens audit accountability, potentially increasing costs (e.g., auditor fees) while reducing reporting errors—critical for smaller support entities with limited resources.

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Senior Managers / Governance Operational Resilience / Outsourcing

All FirmsFintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

December 23rd 2025

App “RBC NL”: BaFin warns against offers in WhatsApp groups and indicates identity fraud at the expense of Robeco

The German Financial Supervisory Authority (BaFin) warns against WhatsApp groups such as „S373 Robeco Kernmitgliedergruppe“, “M2 Robeco Value Investing Kreis“ and „999 Robeco Investment Strategiezentrum - Blockhandel“, which are allegedly operated by the Frankfurt a.M.-based company Robeco Deutschland, Zweigniederlassung der Robeco Institutional Asset Management B.V. („Robeco“). In the WhatsApp groups consumers are enticed to trade financial products via the app „RBC NL“. It is suspected that...

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

BankWealth ManagerFintech

🇱🇺 CSSF Guidance medium

December 23rd 2025

Circular CSSF 25/902

Repeal of Circular CSSF 19/731 regarding the documents to be submitted on an annual basis by credit institutions.

AI Analysis

Circular CSSF 25/902 repeals Circular CSSF 19/731 (as amended by Circular CSSF 19/710), which previously detailed annual document submission requirements for credit institutions, shifting to a dynamic list published on the CSSF website. This matters because it streamlines compliance by centralizing and updating requirements online, reducing reliance on static circulars while maintaining submission obligations. Credit institutions must transition to the new process to avoid disruptions in prudential reporting.

What Changed

- Repeal of prior circulars: Circular CSSF 19/731 and its amendment via Circular CSSF 19/710 are fully repealed, eliminating the fixed list of annual submission documents.
Shift to website-based guidance: The updated list of required documents, affected entity categories, electronic submission channels, and deadlines is now published on the CSSF’s Prudential reporting...
Ongoing obligations: The requirement to submit documents annually remains unchanged; only the reference source and potential content updates via the website are modified.

Suggested Considerations

Review the CSSF Prudential reporting webpage (https://www.cssf.lu/en/prudential-reporting-credit-institutions/) and summary table (https://www.cssf.lu/en/Document/summary-of-documents-to-be-submitted-on-an-annual-basis/) to identify current document lists, categories, channels, and deadlines.
Update internal reporting processes, templates, and workflows to reference the website instead of the repealed circular.
Confirm ongoing annual submissions via specified electronic channels; test interactive table for applicability to the institution's profile.
Archive references to Circular CSSF 19/731 in policies and train staff on the change.

Key Dates

12 December 2019

- Original issuance of repealed Circular CSSF 19/731 (archived on 23 December 2025)

23 December 2025

- Publication and effective date of Circular CSSF 25/902, repealing Circular CSSF 19/731; transition to website-based list begins

Compliance Impact

Urgency: Medium – The repeal does not alter core submission obligations but requires procedural updates to avoid non-compliance with potentially evolving lists under CRR3 alignments. It matters for operational efficiency, as failure to adapt could lead to missed deadlines or incorrect submissions, especially with website updates tied to EU regulations like Regulation (EU) 2024/1623 (CRR3, applicable from 1 January 2025). Institutions should prioritize review before the next annual cycle to ensure seamless reporting.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF Guidance high

December 23rd 2025

Circular CSSF 24/850 (as amended by Circular CSSF 25/903) (Updated)

Practical rules concerning the descriptive report and the self-assessment questionnaire to be submitted on an annual basis by support PFS.Engagement of the réviseurs d’entreprises agréés (approved statutory auditors) of support PFS and practical rules concerning the management letter and the separate report to be drawn up on an annual basis.

AI Analysis

Circular CSSF 24/850, as amended by Circular CSSF 25/903, establishes practical rules for support Professional of the Financial Sector (support PFS) in Luxembourg to submit annual descriptive reports and self-assessment questionnaires, while also defining the roles of approved statutory auditors (réviseurs d’entreprises agréés) in issuing management letters and separate reports. This guidance standardizes supervisory reporting and audit processes to enhance oversight of support PFS, which provide essential back-office services to authorized PFS. It matters because non-compliance risks supervisory sanctions, reputational damage, and operational disruptions for entities reliant on support PFS structures.

What Changed

- Standardized Reporting Templates: Introduces detailed formats and content requirements for the annual descriptive report and self-assessment questionnaire, covering governance, risk management,...
Auditor Engagement Rules: Mandates approved statutory auditors to perform specific procedures, issue a management letter highlighting control weaknesses, and prepare a separate report confirming...
Amendments via CSSF 25/903: Updates clarify submission procedures, expand self-assessment criteria (e.g., adding cybersecurity and outsourcing risk questions), and refine auditor independence...
Frequency and Scope: Annual submissions required without exceptions; scope limited to support PFS (not primary PFS), emphasizing substance over form in service descriptions.

Suggested Considerations

Annual Reporting Cycle: 1. By year-end, conduct internal self-assessment using the prescribed questionnaire template (available via CSSF portal).
February to review submissions, test controls, and issue management letter (flagging deficiencies) plus separate compliance report.
Governance Updates: Review and update internal policies on risk assessment, auditor selection, and remediation of management letter findings; ensure board oversight of submissions.
Auditor Coordination: Verify auditor qualifications per CSSF register; implement any remediation plans from prior-year management letters before next cycle.
Record-Keeping: Maintain 5-year audit trail of all supporting documentation for CSSF inspections.

Key Dates

1 January 2025

- Effective date of original Circular CSSF 24/850

15 December 2025

- Effective date of amendments in Circular CSSF 25/903, applicable to 2025 reporting cycle onwards

31 March annually DEADLINE

- Deadline for submission of descriptive report, self-assessment questionnaire, management letter, and separate auditor report to CSSF (first applicable for FY 2024 reporting due 31 March 2025)

End of February annually DEADLINE

- Support PFS must engage auditors and provide necessary data to enable timely report preparation

Compliance Impact

Urgency: High – This is a recurring annual obligation with a firm 31 March deadline, where delays trigger automatic CSSF notifications and potential fines (up to €250,000 per Law 1993). It matters for support PFS as it intensifies scrutiny on operational resilience in a post-SFI (2021) landscape, where CSSF prioritizes substance in delegated functions; failure risks de-authorization or client outflows. Early implementation of templates and auditor pipelines is essential to avoid first-year pitfalls.

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Reporting & Disclosure Operational Resilience / Outsourcing Senior Managers / Governance

BankWealth ManagerAll Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News medium

December 22nd 2025

Michael Selig Sworn In as 16th CFTC Chairman

No description available.

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Senior Managers / Governance

BankBroker DealerCrypto Exchange

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News medium

December 22nd 2025

Acting Chairman Caroline D. Pham Announces Departure from CFTC

No description available.

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Senior Managers / Governance

BankBroker DealerCrypto Exchange

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF Enforcement high

December 22nd 2025

AMF Enforcement Committee fines the depositary CACEIS Bank for breaches of its professional obligations

Sanctions & settlements professional obligations Journalists Investment management companies Listed companies and issuers AMF Enforcement Committee fines the depositary CACEIS Bank for breaches of its professional obligations

AI Analysis

The AMF Enforcement Committee fined CACEIS Bank €3.5 million and issued a warning on 17 December 2025 for breaches of its professional obligations as depositary for seven French-law UCITS funds managed by H2O AM LLP (later transferred to H2O AM Europe). This decision underscores the AMF's strict enforcement of depositary oversight duties, particularly in verifying fund managers' investment monitoring systems, asset valuations, and compliance with prospectus constraints like issuer limits and security ratings. It matters for compliance teams as it highlights personal accountability risks and potential fines for inadequate due diligence in fund depositary roles, signaling heightened scrutiny amid past H2O fund issues.

What Changed

This is an enforcement action, not a regulatory change; it reinforces existing obligations under French UCITS rules (transposing UCITS Directive V) for depositaries. Key upheld objections include:
Failure to perform sufficient checks on the asset management company's (AMC) systems for monitoring UCITS investment ratios and valuing unlisted securities.
Inadequate verification of investment decision legality, such as compliance with prospectus limits on debt security ratings, derivative types, and the 10% single-issuer bond exposure cap. No new...

Suggested Considerations

Conduct gap analysis: Review depositary control frameworks against AMF expectations for verifying AMC investment monitoring, unlisted asset valuations, and prospectus compliance (e.g., 10% issuer limits, ratings).
Enhance oversight processes: Implement robust, documented checks on AMC systems, including independent testing of ratios, legality of investments, and derivatives.
Training and audits: Train staff on UCITS depositary duties; perform internal audits of ongoing fund oversight, prioritizing illiquid/unlisted exposures.
Monitor appeals: Track any CACEIS appeal, as outcomes could set precedents; update policies if upheld.
Reporting: Ensure timely escalation of suspected AMC breaches to AMF if identified.

Key Dates

17 December 2025

- AMF Enforcement Committee decision date: €3.5M fine and warning imposed on CACEIS Bank

Compliance Impact

Urgency: High - This recent (Dec 2025) decision directly impacts depositaries with €3.5M precedent for oversight failures, amid AMF's pattern of multi-million fines (e.g., €5.67M total in related 2024 case involving CACEIS). It elevates risks for UCITS/AIF depositaries handling non-standard assets, demanding immediate control reviews to avoid personal sanctions, warnings, or business restrictions, especially post-H2O scandal.

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance Reporting & Disclosure

BankAsset ManagerAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇩🇪 BaFin Warning high

December 22nd 2025

BaFin warns consumers about products and services offered by Marketplace24-7 GmbH

The Federal Financial Supervisory Authority (BaFin) warns consumers about “bearer bonds” being offered for subscription by Marketplace24-7 GmbH on the website non-dom(.)group. BaFin suspects the company of conducting banking business without the required authorisation. The company is furthermore suspected of making an unauthorised public offer of securities without a prospectus. Under the German Securities Prospectus Act (Wertpapierprospektgesetz - WpPG), a prospectus is required for an offer...

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct Market Abuse / Surveillance

BankFintechAll Firms

🇩🇪 BaFin Enforcement high

December 22nd 2025

flatexDEGIRO Bank AG: BaFin imposes administrative fines

On 16 December 2025, BaFin imposed two administrative fines amounting to €560,000 on flatexDEGIRO Bank AG. The company had contravened obligations under the German Securities Trading Act (Wertpapierhandelsgesetz - WpHG). At the beginning of 2022, flatexDEGIRO Bank AG advertised free investment services on two of its websites without clearly indicating that a processing fee would be charged on a regular basis. flatexDEGIRO Bank AG adapted its practices to comply with the legal requirements in ...

AI Analysis

BaFin imposed €560,000 in administrative fines on flatexDEGIRO Bank AG on December 16, 2025, for misleading marketing of investment services that advertised free offerings without clearly disclosing mandatory processing fees. This enforcement action underscores BaFin's strict interpretation of fair and transparent marketing requirements under the German Securities Trading Act (WpHG) and demonstrates that even corrective action taken by firms does not eliminate regulatory penalties for past violations.

What Changed

The enforcement action clarifies BaFin's expectations regarding fair and clear marketing communications for investment services:
Investment services providers must explicitly and unambiguously disclose all material costs, including processing fees, when advertising services as "free"
Marketing materials must present both benefits and risks of services in a balanced manner, with relevant risks highlighted alongside advantages
These obligations apply across all marketing channels, including company websites
The requirements are grounded in the WpHG and further specified in EU regulations and MiFID II guidance The violation centered on flatexDEGIRO's failure to clearly indicate that regular processing...

Suggested Considerations

*For flatexDEGIRO Bank AG (already completed):
Modify marketing materials to clearly and explicitly disclose all material costs and fees
Ensure balanced presentation of benefits and risks across all marketing channels
*For all investment services providers (preventive compliance):
*Audit marketing materials across all channels (websites, social media, advertisements, promotional materials) to identify any claims of "free" or "no-cost" services that lack explicit fee disclosures

Key Dates

Beginning of 2022

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

Asset ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

December 19th 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

December 19th 2025

“The Year That Was and Will Be”

In this, his final blog for 2025, Governor Gabriel Makhlouf reflects on Ireland and the euro area’s economic performance and looks ahead to 2026, drawing on the Quarterly Bulletin and latest eurosystem staff projections published this week.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure ESG

BankAsset ManagerWealth Manager

🇬🇧 FCA News medium

December 19th 2025

Greater flexibility to be given for setting future contactless limits

People could find it easier to pay using contactless, thanks to greater flexibility and the removal of red tape by the FCA. Banks and payment providers with strong fraud controls will be able to set their own limit for contactless payments, allowing them to better respond to changing consumer demands, inflation and new technology. They are also being encouraged to let customers set their own limit, or turn contactless off altogether, as many high street banks already do. People are using cont...

Sectors:

Consumer Protection / Conduct Technology & Cyber

Topics:

BankPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

December 19th 2025

List of supervised entities - cut-off date 1 November 2025

No description available.

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Crypto & Digital Assets Consumer Credit

🇩🇪 BaFin News high

December 19th 2025

BaFin warns consumers about series of platforms

The Federal Financial Supervisory Authority (BaFin) warns customers about online trading platforms that use the slogan “[...] invest your money in the world of cryptocurrencies with [...]”. BaFin suspects the unknown operators of offering consumers cryptoasset services without the required authorisation. The websites have the same text design and layout.

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Crypto ExchangeFintech

🇪🇺 ECB News high

December 19th 2025

ECB launches fast-track assessments for capital and securitisation

No description available.

Sectors:

Prudential / Capital Requirements Authorisation & Licensing

Topics:

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇪🇺 ECB News medium

December 19th 2025

Guide on the notification of significant risk transfer and implicit support for securitisations

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News medium

December 19th 2025

Quarterly Bulletin 2025:4 Prudent ambition needed as multinational investment underpins more positive growth outlook

MDD is projected to grow by just below 4 per cent in 2025. From 2026 to 2028, MDD is forecast to grow at an annual average rate of 2.9 per cent per annum. More positive momentum in MNE investment amid lower uncertainty contrasts with slower pace of growth in domestic sectors and cooling of the labour market as drag from capacity constraints becomes evident. Outlook for slightly higher overall inflation, as underlying services price growth more persistent at a higher rate than pre-pandemic. Th...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

🇺🇸 CFTC policy_statement high

December 18th 2025

CFTC Approves Final Rule to Revise Swap Dealer Business Conduct and Swap Documentation Requirements

No description available.

AI Analysis

The CFTC approved a final rule on December 18, 2025, that codifies existing staff no-action positions and eliminates duplicative business conduct and documentation requirements for swap dealers and major swap participants. This rule resolves over a decade of regulatory uncertainty, reduces operational costs, and harmonizes CFTC requirements with SEC and Municipal Securities Rulemaking Board standards.

AI-generated analysis. May contain errors or omissions — verify with the original CFTC source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Market Abuse / Surveillance Operational Resilience / Outsourcing

Topics:

Broker DealerBank

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News high

December 18th 2025

CFTC Obtains Judgment Against Wisconsin Man for Fraud, Misappropriation Scheme

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇩🇪 BaFin News high

December 18th 2025

Identity fraud: BaFin warns against offers from Ambassador Management GmbH, Ambassador Financial Group Ltd. and Ambassador Global Systems LLC

The Federal Financial Supervisory Authority BaFin warns against offers, in particular offers to purchase shares and alleged pre-IPO shares, which are purportedly brokered by Ambassador. According to information available to BaFin, Ambassador Management GmbH, supposedly based in Frankfurt am Main, Ambassador Financial Group Ltd. and Ambassador Global Systems LLC are providing financial or investment services without the required authorisation. According to the current state of knowledge, there...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

🇩🇪 BaFin Warning high

December 18th 2025

TradeNova: BaFin warns about offers from the fraudulent trading platform in WhatsApp and Telegram groups

The financial supervisory authority BaFin is warning against WhatsApp and Telegram groups where consumers are lured into trading cryptocurrencies via the fraudulent trading platform TradeNova, which can currently be accessed through the website m.tradenovaeo(.)com. According to their findings, the trading platform TradeNova provides financial services, securities transactions, as well as cryptocurrency-related services without authorization.

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

Crypto ExchangeFintech

Banking & Credit Consumer Credit Mortgage & Lending

🇬🇧 BoE News

December 18th 2025

The FCA welcomes the Government’s consultation on a new benchmarks regime for the UK. Since the introduction of the current regulatory framework, the financial landscape has evolved significantly. We now have an opportunity to build a regime that is more targeted to current market conditions and to reduce unnecessary burdens on industry, without compromising high standards. We are working with the Government to reform the current benchmarks regime to ensure that the regulatory framework remai...

AI Analysis

The FCA welcomes HM Treasury's consultation on reforming the UK Benchmarks Regulation (BMR) to create a narrower, risk-based **Specified Authorised Benchmarks Regime (SABR)**, reducing regulatory scope by 80-90% to target only systemically important benchmarks and administrators while easing burdens on industry. This matters for compliance professionals as it shifts from broad regulation of all benchmarks to targeted oversight, requiring firms to reassess benchmark usage, prepare for transition, and adapt to FCA rules on risk management, enhancing UK competitiveness post-FSMA 2023 repeal of assimilated laws.

What Changed

- Narrower scope: Regulation limited to benchmarks/administrators designated by HM Treasury (HMT) on FCA advice, based on criteria like systemic impact on UK financial integrity, consumers, or...
FCA-led firm-facing rules: HMT delegates requirements (governance, conflicts, oversight, methodology transparency, record-keeping) to FCA Handbook; removes legislative obligations on users to only...
Overseas benchmarks: Replaces equivalence/endorsement with Overseas Recognition Regime (ORR); designated overseas administrators may avoid dual regulation if ORR-eligible.
No opt-in: Non-designated benchmarks/administrators unregulated; contributor obligations shift to FCA rules.
Enhanced FCA powers: Potential extension to intervene/wind-down designated benchmarks and direct firms to restrict usage; may cover non-price data like ESG metrics.

Suggested Considerations

Review current benchmarks for potential designation risk (systemic impact criteria) and map usage across portfolios.
Participate in HMT consultation (responses via gov.uk) and prepare for FCA consultation on rules.
Develop/revise policies for benchmark risk management, including cessation/wind-down plans for regulated/non-regulated benchmarks per future FCA guidance.
Assess transition from current authorisation (if non-designated, prepare for deregistration); overseas firms evaluate ORR eligibility.
Update governance/conflicts frameworks for any designated activities; monitor ESG data inclusion in rules.

Key Dates

17 December 2025

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

December 17th 2025

On 16 December 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultation on the partially revised Circular 2016/7 “Video and online identification”. The consultation will go on until 27 February 2026.

Deadline: 27 February 2026

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Insurance & Pensions Capital Markets & Trading Payments & E-Money

🇸🇬 MAS Guidance high

December 16th 2025

Circular on Financial Institution Incident Reporting

This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.

AI Analysis

This MAS circular updates the incident reporting process for financial institutions (FIs), mandating use of a revised template on the MAS-Tx platform for reportable incidents starting 1 February 2026. It standardizes initial notifications and follow-up submissions under applicable regulations, enhancing supervisory efficiency amid rising technology risks. Compliance is critical as it aligns with MAS's focus on operational resilience, with non-adherence risking enforcement actions seen in recent AML/CFT penalties.

What Changed

- Updated Reporting Template: FIs must use the new FI Incident Reporting Template (65.8 KB) for submitting details of reportable incidents on MAS-Tx, replacing prior formats.
Dual Reporting Process: Initial notification required "as soon as possible, but no later than the timeline prescribed" in relevant acts, regulations, notices, circulars, or guidelines; followed by...
Platform Mandate: All subsequent reports must be filed through MAS-FI Transactions Platform (MAS-Tx), streamlining MAS oversight.

Suggested Considerations

Review and familiarize with the updated FI Incident Reporting Template (downloadable from MAS site).
Integrate MAS-Tx platform access and training for compliance, IT, and risk teams to handle submissions.
Update internal incident response plans to ensure initial notifications occur "as soon as possible but no later than prescribed timelines" under relevant rules (e.g., Technology Risk Management Notices), followed by template-based reports via MAS-Tx post-1 February 2026.
Conduct gap analysis against related TRM Notices (e.g., FSM-N05 for banks, FSM-N25 for trust companies) to align incident detection and reporting. https://panorays.com/blog/mas-trm-compliance/
Test processes via simulations, as recommended in TRM guidelines for incident response readiness. https://panorays.com/blog/mas-trm-compliance/

Key Dates

16 December 2025

- Circular published, announcing updated template and process

1 February 2026

- Mandatory use of updated FI Incident Reporting Template on MAS-Tx for all subsequent incident reports (initial notifications follow existing prescribed timelines). https://www.mas.gov.sg/regulation/circulars/circular-on-financial-institution-incident-reporting

Compliance Impact

Urgency: High – With the effective date of 1 February 2026 now passed (as of current date), non-compliant FIs risk immediate supervisory scrutiny, fines, or enforcement, as evidenced by MAS's S$27.45 million penalties on nine FIs for AML/CFT breaches in 2025. This matters because it operationalizes broader TRM frameworks amid cyber threats, where delayed reporting could amplify disruptions and invite actions like licence revocations. https://www.twobirds.com/en/insights/2025/singapore/mas-takes-robust-regulatory-actions-against-nine-financial-institutions-and-revokes-a-capital-market

References

AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

BankInsurancePayment Provider

Banking & Credit Payments & E-Money Capital Markets & Trading

🇨🇭 FINMA Enforcement critical

December 15th 2025

Totalrevision der Verordnung über Massnahmen gegenüber der Islamischen Republik Iran

Der Bundesrat hat am 12. Dezember 2025 beschlossen, die Iran-Sanktionen dem Stand von vor dem Abschluss des Wiener Abkommens über das iranische Atomprogramm anzupassen. Dazu hat er die Verordnung über Massnahmen gegenüber der Islamischen Republik Iran einer Totalrevision unterzogen. Die neue Verordnung (SR 946.231.143.6) trat am 12. Dezember 2025 in Kraft.

AI Analysis

Switzerland has completely revised its Iran sanctions regulations effective December 12, 2025, restoring sanctions to pre-2015 levels following the automatic reinstatement of UN Security Council resolutions on September 28, 2025. This comprehensive overhaul requires Swiss financial institutions and businesses to immediately implement expanded asset freezes, trade restrictions, and sectoral prohibitions affecting Iran-related transactions and designated persons.

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Operational Resilience / Outsourcing

BankPayment ProviderAll Firms

🇬🇧 FCA News medium

December 15th 2025

FCA sets out plans to help build mortgage market of the future

First-time buyers and the self-employed could get a step-up onto the housing ladder, under new plans from the FCA. Its priorities for reforms to the mortgage market also include helping homeowners unlock housing wealth for a more comfortable later life.The FCA will focus on 4 areas:First-time buyers & underserved consumers: Simplifying mortgage rules to allow more flexible products that reflect different working patterns and income levels at different stages of life.Later-life lending: Review...

Sectors:

Consumer Protection / Conduct Prudential / Capital Requirements

Topics:

BankFintech

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC Speech

December 12th 2025

Remarks by Acting Chairman Caroline D. Pham before the Financial Stability Oversight Council

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

December 12th 2025

The AMF examines the transparency of executive succession plans as part of its 2025 Corporate Governance Report

Governance Annual report Executive & other private individuals Journalists Listed companies and issuers The AMF examines the transparency of executive succession plans as part of its 2025 Corporate Governance Report

Sectors:

Topics:

Reporting & Disclosure Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement critical

December 12th 2025

Sanktionen: Die Schweiz weitet ihre Sanktionslisten betreffend Russland und Belarus aus

Der Bundesrat hat die Sanktionslisten betreffend Russland und Belarus am 12. Dezember 2025 ausgeweitet. Die Schweiz übernimmt damit diverse Änderungen, welche die EU im Rahmen ihres 19. Sanktionspakets beschlossen hat.

AI Analysis

The Swiss Federal Council expanded sanctions lists against Russia and Belarus on December 12, 2025, adopting changes from the EU's 19th sanctions package to align Swiss measures with EU restrictions. This matters for Swiss financial institutions as it imposes immediate asset freezes, transaction bans, and reporting obligations on newly listed entities, strengthening efforts to counter Russia's military-industrial complex and shadow oil fleet while preventing sanctions evasion.

What Changed

- Asset freezes and prohibitions: 22 natural persons and 42 companies/organizations added to asset freeze and prohibition on making funds/assets available lists.
Shipping restrictions: 116 new vessels (primarily Russian shadow fleet tankers evading oil price caps) subjected to comprehensive purchase, sale, and service bans.
Export controls: 45 new companies (including in third countries) under stricter export controls to block deliveries of critical goods to Russia's military-industrial sector.
Financial transaction bans: Five Russian banks and four branches of Russian banks in third countries banned from transactions, especially those using Russian payment systems; eight third-country...

Suggested Considerations

Immediate screening: Review client lists, transactions, and assets against updated SECO sanctions lists (published by WBF) for matches to 22 persons, 42 entities, 116 vessels, 45 export-controlled firms, 5+4 banks, and 8 third-country firms.
Asset freezing: Block and freeze any matching assets/funds; prohibit making available.
Transaction halts: Cease dealings with listed banks, entities, vessels, or sanctioned goods/services.
Reporting: Notify SECO of frozen assets, blocked transactions, or existing business relationships immediately; conduct additional due diligence on suspicions per Art. (FINMA guidelines).
Ongoing monitoring: Update compliance systems for dynamic lists; train staff on shadow fleet risks and third-country evasion.

Key Dates

29 October 2025

- Prior expansion decision (related 18th EU package adoption)

30 October 2025

- Entry into force of October measures (export restrictions, RDIF transaction bans)

13 December 2025 DEADLINE

- Measures enter into force; immediate implementation required

31 December 2025

- Extension of certain derogations (e.g., Russia investment withdrawals)

Compliance Impact

Urgency: Critical - Effective immediately (13 Dec 2025), with no grace period for asset freezes/transaction bans, exposing non-compliant firms to severe penalties amid FINMA's active enforcement on sanctions (type: enforcement). This escalates existing Russia/Belarus regimes, targeting evasion vectors like shadow fleets and third-country facilitators, demanding urgent system updates given the volume of new listings (225+ entities/vessels).

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerPayment Provider

🇬🇧 BoE Guidance medium

December 12th 2025

Statistical Notice 2025/06 - Bank of England Statistics Taxonomy 1.3.1 release note

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

This Statistical Notice 2025/06 announces the release of Bank of England Statistics Taxonomy version 1.3.1, which updates definitions and guidance in the Banking Statistics Yellow Folder, including upgrades from XBRL 2.3.0 to 3.0, validation fixes, and data point model changes. It matters for compliance teams at reporting firms as it ensures accurate submission of statistical data to the BoE, supporting monetary policy, financial stability monitoring, and national accounts under the Bank of England Act 1998.

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 FCA News high

December 12th 2025

FCA confirms final guidance to tackle serious non-financial misconduct in financial services

We're providing guidance to support firms to tackle bullying, harassment and violence in financial services, after they asked for additional support. In July, we changed our rules – setting clearer standards for how financial services firms should address non-financial misconduct.This more closely aligned the rules for banks and non-banks. We wanted to give firms the confidence to act against serious misconduct, drive consistency and make it clearer when non-financial misconduct is a breach o...

Sectors:

Topics:

Consumer Protection / Conduct Senior Managers / Governance Authorisation & Licensing

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News high

December 12th 2025

ECB to assess banks’ stress testing capabilities to capture geopolitical risk

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News medium

December 11th 2025

Notice of Consultation Paper Release: CP 169

11 DEC 2025, 06:08 PM Notice of Consultation Paper Release: CP 169

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News medium

December 11th 2025

Notice of Amendments to Legislation: December 2025

11 DEC 2025, 05:55 PM Notice of Amendments to Legislation: December 2025

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Reporting & Disclosure

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

December 11th 2025

Issue 8 2025

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News low

December 11th 2025

David Roberts reappointed as Chair of the Bank of England’s Court of Directors and Dame Anne Glover and Diana Noble reappointed as Non‑Executive Directors

David Roberts has been reappointed as Chair of the Court of the Bank of England by His Majesty the King

Sectors:

Topics:

Prudential / Capital Requirements Senior Managers / Governance Authorisation & Licensing

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

December 11th 2025

Promoting innovation while guarding against financial stability risks − speech by Randy Kroszner

Given at the 20th High-level meeting on financial stability and regulatory and supervisory priorities (jointly organised by the Arab Monetary Fund, the Basel Committee on Banking Supervision and the Financial Stability Institute of the Bank of International Settlements).

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

December 11th 2025

Governing Council proposes simplification of EU banking rules

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

December 11th 2025

Streamlining supervision, safeguarding resilience: the ECB’s agenda for more effective, efficient and risk-based European banking supervision

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

December 11th 2025

Aktualisierte Sanktionsmeldung: Republik Irak

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.

AI Analysis

This FINMA publication announces a SECO update to the annex of the Ordinance on Economic Measures against the Republic of Iraq (SR 946.206), reflecting UN Sanctions Committee amendments to the list of sanctioned individuals, companies, and organizations made on December 9, 2025. It matters because these changes are directly applicable in Switzerland, requiring financial intermediaries to immediately block affected assets and report business relationships to SECO to ensure compliance with UN sanctions. Failure to act risks enforcement by FINMA under its supervisory mandate.

What Changed

- The UN Sanctions Committee modified the sanctions list targeting persons, companies, and organizations related to Iraq on December 9, 2025; this amendment was published by SECO on its website and...
Switzerland automatically applies UN sanctions lists without delay per the Federal Council's Ordinance of March 4, 2016, making the update immediately binding.
Financial intermediaries must implement prohibitions, freeze assets of newly listed or adjusted entities, and notify SECO of any impacted business relationships, consistent with prior Iraq sanctions...

Suggested Considerations

Screen against SESAM database: Immediately rescreen client portfolios, transactions, and business relationships against the updated Iraq sanctions list via SECO's SESAM tool (https://www.seco.admin.ch/sesam).
Asset freeze: Block and freeze any assets, funds, or economic resources belonging to newly sanctioned parties; do not dispose of or make available.
Report to SECO: Notify SECO of any matches or business relationships via the designated reporting channel within required timelines (typically immediate for freezes).
Internal review: Update compliance systems, screening tools, and policies; conduct targeted audits for Iraq/Middle East exposure; train staff on implementation.
Document compliance: Maintain records of screening, freezes, and reports for FINMA audits.

Key Dates

Immediate (as of December 10, 2025) DEADLINE

- Financial intermediaries must block assets and report to SECO without delay, per automatic application of UN sanctions

December 9, 2025

- UN Sanctions Committee decision amending the Iraq sanctions list

December 10, 2025

- SECO publishes update on its website and updates SESAM database; changes enter into force immediately in Switzerland

Compliance Impact

Urgency: High - Automatic and immediate effect heightens breach risk, with FINMA enforcement powers including fines, reputational damage, or license revocation for non-compliance. It matters due to Switzerland's direct implementation of UN sanctions, amplifying AML/financial crime exposure amid ongoing global sanctions volatility (e.g., Iraq-related terrorism financing risks).

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech

December 10th 2025

Economic Resilience: What Next? – Speech by Governor Gabriel Makhlouf at The Royal Irish Academy

Good evening. Thank you for the invitation to join you today. This evening I want to talk about economic resilience, what it is and whether we have enough of it. I spoke about economic resilience in my first speech as Governor – 6 years ago – and wrote to the Minister for Finance about it in early February this year. After everything that’s happened since February, it feels timely to take stock of where we are. My conclusion is that we need to give it greater focus. Let me start by setting ou...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Insurance & Pensions

🇮🇪 CBI Enforcement high

December 10th 2025

Central Bank of Ireland publishes roadmap to deliver a more effective and efficient regulatory framework

New report outlines the Central Bank’s approach to more effective and efficient regulatory and supervisory framework, reducing complexity and improving clarity while maintaining resilience and important protections in the system. This work builds on the Central Bank’s strategy to transform regulation and supervision, including the introduction of our new integrated supervisory approach and the improvements made in our gatekeeping processes in recent years. The roadmap sets out a comprehensive...

AI Analysis

The Central Bank of Ireland published a comprehensive multi-year roadmap on December 10, 2025, aimed at streamlining its regulatory and supervisory framework across four pillars: supervision, regulation, gatekeeping, and reporting. This initiative represents a strategic shift toward more effective and efficient oversight while explicitly maintaining resilience standards and consumer protections, responding to EU calls for regulatory reform to enhance competitiveness.

What Changed

The roadmap encompasses four major reform areas: Supervision: Implementation of a new integrated, risk-based supervisory approach introduced in January 2025, consolidating multidisciplinary teams...
Insurance: Major compatibility review to eliminate duplication with Solvency II reforms and review of 2021 Recovery Planning Regulations
Banking: Review of domestic banking rules predating CRD V/CRR to ensure consistency with updated EU standards
Credit Unions: Updates to the Credit Union Handbook following simplification of the Lending Framework
Funds: Changes to AIF rulebook and UCITS regulation with full review of the Fund Service Provider Framework

Suggested Considerations

*Immediate actions for compliance professionals:
*Monitor consultation releases: Track the Central Bank's website for the 2026 RIA Framework consultation and respond with firm-specific impact assessments
*Assess rulebook changes: Review how proposed updates to insurance regulations, banking rules, credit union handbook, and fund regulations affect your firm's compliance framework
*Evaluate supervisory engagement: Understand how the new integrated supervisory model affects your firm's supervisory relationship and reporting lines
*Prepare for gatekeeping changes: Anticipate enhanced consistency and transparency requirements in authorisation and Fitness & Probity processes

Key Dates

January 2025

- New integrated supervisory model became effective

2025

- Strategic review of Industry Funding Levy approach (consultation expected during 2025)

2026

- Public consultation on new Regulatory Impact Assessment Framework

2026 to first half of 2028

- Multi-year programme implementation period for all roadmap initiatives

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News low

December 10th 2025

PRA letter to the Prime Minister - December 2025

The Prudential Regulation Authority’s (PRA) update to the Prime Minister on work to support economic growth.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇺🇸 CFTC News medium

December 9th 2025

CFTC Obtains Over $2M Restitution for Victims of Precious Metals, Foreign Currency Pool Fraud

No description available.

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Reporting & Disclosure

Broker DealerAsset ManagerBank

🇱🇺 CSSF Guidance high

December 9th 2025

Circular CSSF 25/899

Application of the Guidelines of the European Banking Authority on Acquisition, Development, and Construction (ADC) exposures to residential property under Article 126a of Regulation (EU) 575/2013 (EBA/GL/2025/03)

AI Analysis

Circular CSSF 25/899 mandates the application of EBA Guidelines (EBA/GL/2025/03) on Acquisition, Development, and Construction (ADC) exposures to residential property under Article 126a of Regulation (EU) 575/2013 (CRR), specifying conditions for reducing the risk weight from 150% to 100% on qualifying exposures. This matters for Luxembourg credit institutions as it directly impacts capital requirements for real estate lending, promoting safer lending practices while aligning with Basel III standards via CRR3 implementation.

What Changed

- Introduces precise definitions for CRR Article 126a(2) terms, enabling 100% risk weight (instead of 150%) for ADC exposures to residential property if conditions are met: at least 50% of total...
Mandates "sound standards for lending and credit monitoring" alongside these criteria.
Accounts for social housing/public not-for-profit lending specificities, with tailored rules for regulated entities serving long-term tenant housing.
Replaces prior "particularly high-risk exposure" class with dedicated ADC class under CRR3.

Suggested Considerations

Review and classify ADC exposures against EBA-defined criteria (e.g., contract thresholds, equity levels, monitoring standards) to determine eligibility for 100% risk weight.
Update internal policies, risk assessment models, and credit approval processes to incorporate "sound lending standards" and EBA specifications, including social housing carve-outs.
Recalculate capital requirements under standardized credit risk approach; report changes via CRR disclosures.
Maintain documentation proving compliance (e.g., deposit proofs, equity valuations) for supervisory audits by CSSF.
Institutions must "make every effort to comply" per EBA Regulation Article 16(3).

Key Dates

4 November 2025

- EBA Guidelines (EBA/GL/2025/03) apply across EU (two months post-publication on 27 June 2025 in all official languages)

1 December 2025 DEADLINE

- CSSF Circular 25/899 published, requiring immediate compliance preparation for Luxembourg firms

Compliance Impact

Urgency: High – Firms with significant ADC portfolios face immediate capital relief opportunities (50bp risk weight reduction) but risk non-compliance penalties if processes aren't updated by early 2026, especially post-CRR3 rollout; misclassification could inflate capital needs amid ongoing Basel implementation.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Payments & E-Money Wealth & Private Banking

🇨🇭 FINMA Enforcement critical

December 9th 2025

Aktualisierte Sanktionsmeldung: Sudan

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.

AI Analysis

On December 9, 2025, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 2 of the Sudan Sanctions Ordinance (SR 946.231.18), requiring Swiss financial intermediaries to implement changes to their sanctions screening and compliance procedures. This update reflects ongoing international coordination on Sudan sanctions enforcement and requires immediate implementation by all Swiss-regulated financial institutions.

What Changed

The regulatory update modified Annex 2 of the Sudan Sanctions Ordinance effective December 9, 2025 at 23:00 UTC. While the search results do not provide the specific entities added or removed from the sanctions list, the update was coordinated through FINMA's SESAM (SECO Sanctions Management) database, which serves as Switzerland's authoritative sanctions database for financial intermediaries. The timing of this update aligns with broader international sanctions activity on Sudan.

Suggested Considerations

*Sanctions List Update: Immediately download and integrate the updated SESAM sanctions database into all transaction screening systems and customer due diligence (CDD) procedures.
*System Screening: Conduct full rescreening of existing customer relationships, beneficial owners, and transaction counterparties against the updated Annex 2 designations.
*Transaction Review: Review all pending and recent transactions (typically 30-90 days prior) to identify any that may have involved newly designated persons or entities.
*Blocked Assets: If any blocked persons or entities are identified in existing customer relationships, immediately freeze accounts and file required reports with SECO.
*Staff Training: Update compliance and front-office staff on the specific changes to ensure proper application of the updated sanctions regime.

Key Dates

December 9, 2025, 23:00 UTC

- Effective date of the urgent amendment to Annex 2 of SR 946.231.18; SECO updated the SESAM database on this date

Immediate DEADLINE

- Financial intermediaries required to implement changes according to SR 946.231.18 regulations

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankPayment ProviderWealth Manager

Banking & Credit Capital Markets & Trading Payments & E-Money

🇮🇪 CBI Warning high

December 9th 2025

Sectors:

Topics:

Prudential / Capital Requirements Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerPayment Provider

🇬🇧 PRA policy_statement medium

December 8th 2025

PS27/25 – Future banking data review: Deletion of banking reporting templates

Policy statement 27/25

AI Analysis

PS27/25 finalizes the PRA's policy to delete 37 redundant banking regulatory reporting templates (34 FINREP, 2 COREP, and PRA109) as the first phase of the Future Banking Data (FBD) programme, aiming to reduce reporting burdens while maintaining supervisory data quality. This matters for PRA-regulated banks as it delivers immediate cost savings and signals broader regulatory simplification, aligning with the PRA's secondary competitiveness and growth objective.

What Changed

- Deletion of 37 whole reporting templates identified as duplicative, outdated, or low-value: 34 FINREP templates, 2 COREP templates (C05.01 and C05.02, now obsolete), and PRA109.
Consolidation of remaining FINREP scoping provisions into a single section of the PRA Rulebook (new Chapters 5A–5F of the Reporting (CRR) Part), with clarifications to unclear or duplicative...
Alignment of FINREP remittance deadlines to 30 business days for reports under Article 430(3), Article 11(2), and new Chapters 5A–5F.
Updates to Supervisory Statement SS34/15 – Guidelines for completing regulatory reports to reflect deletions and consolidations.
Refinements to the waiver framework for individual UK FINREP reporting in UK consolidation groups (excluding ring-fenced groups), allowing waivers if a single entity contributes 90-95% of group...

Suggested Considerations

Review and update internal reporting systems, processes, and controls to cease submission of the 37 deleted templates for reference dates from 31 December 2025 onwards.
Confirm applicability of consolidated FINREP scoping rules (Chapters 5A–5F) and adjust scoping for remaining templates, incorporating clarified conditions.
Assess eligibility for individual FINREP waivers under the updated framework if part of a UK consolidation group; apply to PRA if criteria met (90-95% asset contribution).
Update compliance policies and training to reflect SS34/15 amendments and aligned remittance deadlines.
Review Pillar 3 disclosure obligations for any ongoing requirements tied to deleted templates and prepare for potential future changes.

Key Dates

11 November 2025 DEADLINE

- Q3 2025 remittance deadline (precedes PS publication, so no concession for early non-reporting)

8 December 2025

- Publication of PS27/25, finalizing policy and responses to CP21/25 consultation

31 December 2025

- Effective date for revised rules, amended SS34/15, and deletions; applies to reporting reference dates falling on or after this date (avoids 2025 Q4 submissions where relevant)

Compliance Impact

Urgency: Medium – Changes are simplificatory (deletions reduce burden), with immediate effect from 31 December 2025, but no new requirements or penalties for non-compliance with deleted items; firms must act promptly to decommission processes and avoid erroneous submissions. This matters as it lowers ongoing costs (especially for larger reporters) and sets precedent for FBD phases targeting further efficiencies, but smaller firms see limited benefit without broader reforms.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News medium

December 8th 2025

Update to lending and deposit spread of the Operational Standing Facility – Market Notice 8 December 2025

In line with the Bank's transition to a repo-led, demand-driven operational framework for providing reserves, the Bank is today announcing a reduction in the spread to Bank Rate of the Operational Standing Facility (OSF). This Market Notice confirms the new, recalibrated spread of the OSF at Bank Rate +15bps for the lending facility and Bank Rate -15bps for the deposit facility. As with all SMF facilities, the OSFs are 'open for business' and should be used by SMF participants for the purpose...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Market Abuse / Surveillance

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech

December 8th 2025

Remarks at the Climate Risk and Sustainable Finance Forum – Governor Gabriel Makhlouf

Good morning and welcome everyone. I am delighted to address the eighth meeting of this Forum. When the Forum was established three years ago, the goal was to bring together participants from across Ireland to build a shared approach to understanding and managing the systemic risks that climate change poses, while supporting the orderly transition of households and businesses to the net zero objective that we’re all familiar with. The Forum has come a long way in those three years. We have es...

Sectors:

Topics:

ESG Prudential / Capital Requirements Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇦🇪 ADGM News high

December 8th 2025

08 Dec 2025 Read more

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Technology & Cyber

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News medium

December 5th 2025

ECB concludes asset quality review of Raiffeisen-Holding Niederösterreich-Wien

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

Bank

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇮🇪 CBI News

December 5th 2025

The Digital Euro: shaping the future while preserving trust

In this blog, Governor Gabriel Makhlouf writes about the development of the Digital Euro and how central banks foster trust and safety in the financial system and in the implementation of projects like the Digital Euro.

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Technology & Cyber

BankFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇦🇪 DFSA News medium

December 5th 2025

Notice of Amendments to Legislation December 2025

05 DEC 2025, 02:37 PM Notice of Amendments to Legislation December 2025

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Reporting & Disclosure

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Crypto & Digital Assets

🇺🇸 SEC News medium

December 5th 2025

SEC Announces Agenda and Panelists for Roundtable on Financial Surveillance and Privacy

The Securities and Exchange Commission’s Crypto Task Force has announced the agenda and panelists for its rescheduled Roundtable on Financial Surveillance and Privacy.“New technologies give us a fresh opportunity to recalibrate financial surveillance…

Sectors:

Topics:

AML / Financial Crime Technology & Cyber Market Abuse / Surveillance

BankBroker DealerCrypto Exchange

🇮🇪 CBI Consultation high

December 5th 2025

Central Bank of Ireland launches Access to Cash consultation

The Central Bank of Ireland has today (5 December) launched a public consultation on the implementation of our new Access to Cash responsibilities. Deputy Governor Vasileios Madouros said: “Amid a rapidly evolving payments landscape, the Central Bank of Ireland is committed to making sure that cash continues to be readily available as a means of payment. Today’s consultation is an important step towards the implementation of the Central Bank’s new responsibilities under the Access to Cash leg...

AI Analysis

The Central Bank of Ireland has launched a public consultation on implementing new **Access to Cash** responsibilities under the Finance (Provision of Access to Cash Infrastructure) Act 2025, which commenced on 30 June 2025. This consultation addresses two critical areas: identifying local deficiencies in cash infrastructure and establishing minimum ATM service standards. The initiative reflects regulatory commitment to ensuring cash remains readily available as payment preferences shift toward digital channels.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Topics:

BankPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

December 5th 2025

EPC Finance Limited - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Consumer Credit Mortgage & Lending

🇮🇪 CBI Warning high

December 5th 2025

LiteLoans4U - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintech

🇮🇪 CBI Warning high

December 5th 2025

Policy statement 26/25

AI Analysis

The Prudential Regulation Authority (PRA) has issued PS26/25, finalizing the withdrawal of Supervisory Statement (SS) 20/15, which previously set prescriptive expectations for building societies' treasury and lending activities, effective immediately upon publication on 5 December 2025. This deregulatory move reduces administrative burdens, enhances proportionality across deposit takers, and promotes competition by aligning building societies more closely with banks, while relying on existing tools like the PRA Rulebook, SMCR, and routine supervision for risk management. It matters for compliance teams as it eliminates specific guidance often misinterpreted as binding requirements, freeing firms to tailor risk frameworks but requiring vigilance on broader prudential expectations.

What Changed

- Full deletion of SS20/15: Removes all expectations on treasury and lending activities, including the "Treasury Approaches" framework, without replacement.
Consequential amendments: Updates SS31/15 (Internal Capital Adequacy Assessment Process and Supervisory Review and Evaluation Process) to excise references to SS20/15.
Alignment with broader policy: Addresses inconsistencies with PRA's approach for banks, improved sector risk management maturity, and proportionality for smaller firms; supports objectives of safety,...
No new rules imposed: PRA deems existing tools sufficient, including Building Societies Act 1986 restrictions, PRA Rulebook, SMCR, and supervision; derivatives permitted only for risk management...

Suggested Considerations

Review and update policies: Building societies must confirm internal treasury/lending frameworks align with remaining requirements (e.g., PRA Rulebook, Building Societies Act 1986, ICAAP/SREP under amended SS31/15); remove any SS20/15-specific references or processes.
Assess risk management: Evaluate use of derivatives or treasury tools for compliance with non-prescriptive expectations; ensure SMCR accountability and board oversight.
Update governance documents: Revise ICAAP/SREP processes per SS31/15 amendments; document rationale for tailored approaches to demonstrate proportionality.
Engage supervisors: No immediate reporting mandated, but proactive dialogue recommended for firms previously on extensions or complex approaches.
Monitor related reforms: Track Strong and Simple framework (e.g., PS4/26, PS20/25) for SDDT capital/liquidity simplifications referencing this change.

🇬🇧 PRA policy_statement high

December 3rd 2025

PS25/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19

Policy statement 25/25

AI Analysis

PS25/25 is the PRA's policy statement providing feedback on CP10/25 and issuing updated Supervisory Statement SS5/25, which replaces SS3/19 to enhance banks' and insurers' management of climate-related financial risks through strengthened governance, risk management, scenario analysis, data quality, and disclosures. It matters because it sets a higher regulatory bar for embedding climate risks proportionately into core processes like ICAAP, ILAAP, ORSA, and financial reporting, promoting resilience and strategic decision-making amid evolving climate threats.

What Changed

The main changes in SS5/25 from SS3/19 and CP10/25 responses include:
Proportionate application clarification: New 'Overarching aims' section in Chapter 3 explains how firms should tailor expectations to their climate risk exposure, business size, and complexity via a...
Governance strengthening: Boards and senior management must actively oversee climate risks, embedding them in strategy and ensuring accountability.
Risk management enhancements: Integrate climate risks into existing frameworks/risk registers (supplementary sub-registers allowed); 'accept, manage, avoid' is suggestive, not mandatory; aligns with...
Climate scenario analysis (CSA) advancements: Firms must use CSA strategically for decisions; flexibility on number/type of scenarios, reverse stress/sensitivity analysis, and longer horizons...

Suggested Considerations

Conduct gap analysis against SS5/25 within 6 months and remediate (e.g., update governance, risk frameworks, CSA processes).
Integrate climate risks into board oversight, strategy, risk registers, ICAAP/ILAAP (banks), ORSA/stress testing (insurers), and financial reporting.
Perform CSA exercises commensurate with exposures, using suitable scenarios to inform decisions; enhance data quality and disclosures.
Document proportionate application (two-step process: materiality assessment, risk response); leverage existing structures where robust.
Ensure senior accountability and alignment with standards like SS1/21.

Key Dates

3 December 2025

- PS25/25 and SS5/25 published; SS5/25 effective immediately, replacing SS3/19

Within 6 months (by ~June 2026)

- Firms assess gaps against new expectations and develop remediation plans (industry guidance)

Ongoing

- Forward-looking, strategic implementation proportionate to risks; PRA may request progress evidence

Compliance Impact

Urgency: High – Effective immediately (3 Dec 2025), requiring significant uplift to existing approaches; non-compliance risks supervisory scrutiny, as PRA expects ambitious, ongoing progress and may request evidence. Matters for capital/liquidity planning, resilience, and strategic viability amid maturing climate risk landscape.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements ESG Senior Managers / Governance

Topics:

BankInsurance

🇬🇧 PRA Guidance high

December 3rd 2025

SS5/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks

Supervisory statement 5/25

AI Analysis

SS5/25 is the PRA's updated supervisory statement, published on 3 December 2025, replacing SS3/19 and setting enhanced expectations for banks and insurers to manage climate-related risks through governance, risk management, scenario analysis, data quality, and disclosures. It matters because it represents a step change from awareness-raising to embedding robust, proportionate practices that integrate climate risks into core prudential processes like ICAAP, ILAAP, ORSA, and capital planning, aligning with the PRA's objectives for firm safety and soundness amid evolving physical and transition risks.

What Changed

- Replaces SS3/19 entirely: Introduces a more mature, consolidated framework reflecting international standards (e.g., BCBS), with detailed transmission channels for climate risks across credit,...
Governance enhancements: Emphasizes board accountability, integration into business strategy, climate risk appetite statements, and linkage to Senior Managers & Certification Regime (SM&CR) without...
Risk management integration: Requires embedding climate risks into existing frameworks with quantitative metrics/limits where material; detailed mapping of risks (e.g., physical/transition via...
Scenario analysis: Firms must conduct climate scenario exercises capturing plausible pathways, impacts on capital/liquidity/solvency, with transparent assumptions and management challenge;...
Data expectations: Critical assessment of data sources/quality (e.g., geographic/sectoral for banks, hazard/vulnerability for insurers); use proxies with documented limitations.

Suggested Considerations

Conduct materiality assessment of climate risks to scope proportionality (leverage TCFD/CSRD work).
Embed climate risks in governance: Define risk appetite, update SM&CR responsibilities, ensure board MI/challenge.
Integrate into risk frameworks: Update risk registers, ICAAP/ILAAP/ORSA/SCR with quantitative metrics, scenarios, and controls; adjust underwriting/pricing/collateral.
Perform climate scenario analysis: Model impacts on capital/liquidity/solvency using plausible pathways.
Enhance data: Source/assess granular data (e.g., location/sector/hazards), document proxies/limitations.

Key Dates

April 2025

Consultation paper CP10/25 issued (feedback incorporated in final policy)

Within 6 months of 3 December 2025 (by ~3 June 2026)

Firms assess gaps against new expectations and develop implementation plans

3 December 2025

Publication of PS25/25 and SS5/25; replaces SS3/19 effective immediately

Compliance Impact

Urgency: High – Effective immediately with a 6-month window (~June 2026) for gap closure, this demands significant operational uplift (e.g., data, scenarios, integration) amid PRA's shift to enforcement; non-compliance risks supervisory action, given climate risks' materiality to prudential stability and alignment with global standards.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements ESG Senior Managers / Governance

Topics:

BankInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News medium

December 2nd 2025

Financial Policy Committee Record - December 2025

Our Financial Policy Committee (FPC) meets to identify risks to financial stability and agree policy actions aimed at safeguarding the resilience of the UK financial system.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Consumer Protection / Conduct

BankAsset ManagerWealth Manager

🇬🇧 BoE Guidance high

December 1st 2025

Statistical Notice 2025/05 - Confidentiality Permission Review 2026

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder

AI Analysis

The Bank of England's Statistical Notice 2025/05 requires all reporting institutions to confirm their confidentiality permissions for publishing aggregate statistical data during the 2026 reporting year. This mandatory review streamlines data publication processes by seeking prior consent for aggregate data where firms are among fewer than three contributors, reducing administrative burden while maintaining data integrity.

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Operational Resilience / Outsourcing

Topics:

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News medium

December 1st 2025

Remit and recommendations for the Financial Policy Committee – November 2025

Exchange of letters between the Governor and the Chancellor

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News low

December 1st 2025

PRA Regulatory Digest - November 2025

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News high

November 28th 2025

Supply-chain attack using NPM packages

Press release 25/18

Sectors:

Topics:

Operational Resilience / Outsourcing Technology & Cyber Consumer Protection / Conduct

BankFintechAll Firms

Banking & Credit Wealth & Private Banking Mortgage & Lending

🇬🇧 PRA News medium

November 28th 2025

Other systemically important institutions (O-SII) buffer rates for ring-fenced banks, large domestic banks, and large building societies

The PRA has set the 2025 O-SII buffer rates for ring-fenced banks, large domestic firms, and large building societies

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Reporting & Disclosure

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News medium

November 28th 2025

2025 list of UK headquartered Globally Systemically Important Institutions (G-SIIs)

The PRA disclosure of UK headquartered G-SIIs for 2025.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News medium

November 28th 2025

2025 list of UK firms designated as Other Systemically Important Institutions (O-SIIs)

The PRA has published the list of designated O-SIIs for 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankWealth ManagerAll Firms

🇬🇧 PRA News medium

November 28th 2025

Prudential Regulation Authority (PRA) annual assessment of the Credit Union sector

This letter sets out the key findings from our annual assessment and the actions we expect you to take.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News high

November 28th 2025

Deep, liquid, and transparent (DLT) assessment for January 2026 implementation

The table below shows the outcomes of the annual DLT assessment for PRA relevant currencies, which will be effective from 1 January 2026.

Effective Date: 1 January 2026

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News

November 28th 2025

Patrick Montagner: Supervision in uncertain times: vigilance, governance and the case for effective supervision

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA News low

November 28th 2025

Swiss Takeover Board: Beat Fellmann’s term of office extended by one year

The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has extended Beat Fellmann’s term of office by one year until the end of 2026.

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News high

November 27th 2025

New DFSA Thematic Review: Continuing Professional Development for Money…

27 NOV 2025, 10:25 AM New DFSA Thematic Review: Continuing Professional Development for Money…

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Operational Resilience / Outsourcing

Asset ManagerWealth ManagerBank

🇬🇧 PRA policy_statement high

November 27th 2025

PS23/25 – Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251

Policy statement 23/25

AI Analysis

PS23/25 from the PRA and FCA finalizes amendments to Binding Technical Standards (BTS) 2016/2251 under UK EMIR, introducing an indefinite exemption for single-stock equity options and index options from bilateral margin requirements, removing IM obligations on legacy contracts for firms falling below thresholds, and allowing alignment with third-country jurisdictions' timelines for IM assessments. These changes reduce operational burdens and enhance competitiveness for UK firms trading non-centrally cleared derivatives, following feedback from CP5/25, while maintaining prudential standards.

What Changed

- Indefinite exemption for equity options: Single-stock equity options and index options are permanently exempted from UK bilateral initial margin (IM) and variation margin (VM) requirements,...
Legacy contracts relief: Firms falling below the Average Aggregate Notional Amount (AANA) threshold no longer need to exchange IM on outstanding legacy non-centrally cleared derivatives contracts.
Third-country alignment: UK firms can adopt another jurisdiction’s threshold calculation periods and entry-into-scope dates for IM requirements when trading with counterparties subject to that...
Minor drafting tweaks for consistency between PRA and FCA instruments, including FCA adding text on releasing collected IM, with no policy impact.

Suggested Considerations

Review and update internal policies, procedures, and systems to cease IM/VM exchange for exempted single-stock equity options and index options post-27 November 2025; confirm no ongoing obligations for legacy contracts if below AANA thresholds.
Assess cross-border transactions: Document use of third-country jurisdictions’ timelines for IM thresholds where applicable, ensuring compliance with UK rules remains intact.
Conduct gap analysis on margin calculations, collateral management, and reporting; train front-to-back office teams on changes.
Retain records of AANA calculations and threshold monitoring to justify exemptions or relief.
For firms with collected IM on now-exempt legacy positions, evaluate release options per updated FCA instrument language.

🇬🇧 PRA Guidance medium

November 24th 2025

The PRA holds model risk management roundtable on artificial intelligence and machine learning technologies

The PRA held roundtable meetings on artificial intelligence and machine learning (AI and ML) in the context of Supervisory Statement (SS)1/23 ‘Model risk management principles for banks’

AI Analysis

The Prudential Regulation Authority (PRA) held roundtable sessions on 20 and 22 October 2025 with 21 regulated firms to discuss AI and machine learning (AI/ML) adoption under Supervisory Statement SS1/23 on model risk management (MRM) principles for banks. This matters because it highlights PRA's strategic supervisory focus on AI/ML model risks, urging firms to enhance governance, risk appetite, monitoring, and validation to mitigate opacity, overfitting, and rapid performance degradation in these models. https://www.bankofengland.co.uk/prudential-regulation/publication/2025/november/pra-holds-model-risk-management-roundtable-on-ai | https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2025/november/ai-roundtable-oct-2025.pdf

What Changed

This is not a formal rule change but supervisory guidance via roundtable insights reinforcing SS1/23 principles (effective since 2023). Key emphases include:
Risk appetite: Boards must articulate AI/ML-specific model risk appetite pre-deployment to avoid exceeding tolerances, given higher uncertainty from opacity.
Model inventories and tiering: Address inaccurate/incomplete inventories and aggregate risks from deploying similar AI/ML across portfolios/jurisdictions; challenge tiering for complexity.
Model development: Assess trade-offs in performance vs. explainability/reliability; prefer simpler models where AI/ML gains are marginal; mitigate overfitting via representative datasets.
Ongoing monitoring: Increase frequency beyond tier-dependent intervals (e.g., six months may suffice for traditional models but not dynamic AI/ML); define quantitative triggers for re-validation.

Suggested Considerations

Review and strengthen board-level model risk appetite statements to explicitly cover AI/ML opacity and uncertainty; integrate into governance triggers like re-validation.
Enhance model inventories for completeness, aggregate risk assessment, and cross-jurisdictional tiering challenges.
Update model development policies to evaluate AI/ML trade-offs (e.g., explainability vs. performance) and ensure datasets prevent overfitting.
Revise ongoing monitoring policies for more frequent, quantitative checks on AI/ML (e.g., beyond six months); define degradation triggers, fallback models, and kill switches.
Participate in PRA initiatives like MRM roundtables or AI Consortium for dialogue; align first/second-line defenses per SS1/23.

Key Dates

24 November 2025

- PRA published roundtable summary and slides. https://www.bankofengland.co.uk/prudential-regulation/publication/2025/november/pra-holds-model-risk-management-roundtable-on-ai

22 October 2025; - PRA held CRO roundtable sessions with 21 firms on AI/ML MRM

Compliance Impact

Urgency: Medium - Not critical as no new rules or deadlines, but high relevance for AI/ML users amid PRA's strategic MRM focus; non-compliance risks supervisory actions, given observations of gaps in monitoring and governance. Matters for banks scaling AI (rising adoption per industry views), as unaddressed risks like rapid degradation could amplify losses (e.g., historical model failures cost billions). https://www.articsledge.com/post/model-risk-management | https://www.finextra.com/blogposting/30372/the-pras-latest-view-on-ai-governance-implications-for-uk-banks

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Technology & Cyber Senior Managers / Governance

Topics:

BankAll Firms

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 SEC News medium

November 21st 2025

SEC Announces New Date and Time for Roundtable on Financial Surveillance and Privacy

The Securities and Exchange Commission’s Crypto Task Force has rescheduled its Financial Surveillance and Privacy Roundtable, previously scheduled for October, to Monday, Dec. 15, 2025.“I am looking forward to getting this event back on the calendar…

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Technology & Cyber

BankBroker DealerCrypto Exchange

🇬🇧 PRA Consultation high

November 21st 2025

CP23/25 – Regulatory fees and levies: policy proposals for 2026/27 – Joint PRA and FCA consultation

Consultation paper 23/25

AI Analysis

This joint PRA-FCA consultation (CP23/25 from PRA and Chapter 4 of FCA's CP25/33) proposes policy updates to regulatory fees, levies, and invoice processes for 2026/27, including new fee blocks for emerging activities like PISCES operators and targeted support, alongside adjustments to FOS/FSCS levies and payment timelines. It matters for compliance teams as it directly impacts budgeting, fee calculations, and cash flow management for fee-payers, with potential cost increases and procedural changes effective from April 2026.

What Changed

- New fee structures: Introduction of a periodic fee block for PISCES operators based on regulated income (baseline £2,200 annual fee, variable above £500,000 threshold); extension of fee-block A.13...
Levy adjustments: Addition of targeted support to FSCS Class 2, Category 2.1 (life distribution/investment intermediation) for both FOS and FSCS levies based on annual eligible income; withdrawal of...
PRA-FCA joint proposals (Chapter 4): Amended invoice due dates for firms paying £50,000+ in annual FCA/PRA fees ("payments on account") to prevent overdue labels from procedural mismatches.
Other updates: Removal of £3 agent registration fee for payment institutions, RAISPs, and EMIs; policy tweaks like expanding skilled person reviews for motor finance to more lenders, pro-rating for...

Suggested Considerations

Review current fee/levy exposure and model impacts of new blocks (e.g., PISCES, targeted support, DPC) and withdrawn FOS changes.
Assess invoice processes if paying £50,000+ in FCA/PRA fees; prepare for aligned due dates.
Submit consultation responses by deadlines, focusing on targeted support by 9 January 2026.
Budget for potential fee increases; monitor Spring 2026 fee-rates CP.
For applicants: Factor in new Category 4 fees for A.13 or crypto/DPC registrations.

Key Dates

9 January 2026 DEADLINE

- Deadline for comments on targeted support proposals (FCA CP25/33 paras 2.11-2.18, questions 3-7)

16 January 2026

Policy statement 24/25

AI Analysis

The PRA's PS24/25 finalizes rules increasing Financial Services Compensation Scheme (FSCS) depositor protection limits from £85,000 to £120,000 and temporary high balances (THB) from £1 million to £1.4 million for firm failures on or after 1 December 2025, responding to consultation feedback in CP4/25. This matters for PRA-authorized deposit-takers as it enhances consumer protection amid inflation but requires urgent system and disclosure updates to avoid FSCS payout delays or regulatory breaches. Firms must prioritize single customer view (SCV) readiness and phased disclosure revisions to comply efficiently.

What Changed

- Increased Protection Limits: Standard FSCS deposit limit rises from £85,000 to £120,000; THB limit from £1 million to £1.4 million, applying to failures from 1 December 2025.
SCV System Updates: Firms must update SCV systems (used by FSCS for rapid compensation) to reflect new limits from 1 December 2025, including accurate contact details.
Disclosure Materials: - Update information sheets on FSCS cover to reflect new limits and improve clarity/accessibility; provide to depositors as soon as practicable post-1 December 2025, by 31...
Rulebook Amendments (DPP Rules): Exclude FSCS sticker/poster display in branches without in-person depositor dealings; tighten "third-party premises" scope (e.g., banking hubs); other clarifications.
Supervisory Updates: SS18/15 and SoP1/15 amended for new rules, effective 1 December 2025, with guidance on third-party premises.

Suggested Considerations

Immediate (pre-1 Dec 2025): Test and prepare SCV systems for new limits; review current contact data accuracy.
By 1 Dec 2025: Implement SCV updates; apply amended SS18/15 and SoP1/15.
Post-1 Dec 2025 to 31 May 2026: Revise and distribute updated information sheets, compensation stickers/posters (excluding non-in-person branches), and simplified exclusions lists; no proactive customer notification required but provide on request/in relevant circumstances.
Ongoing: Ensure disclosures remain clear/accessible; monitor for PRA feedback on banking hub models.
Document changes for audit trails; consider regtech for SCV automation.

Key Dates

AI Analysis

Circular CSSF-CPDI 25/48, published on 13 November 2025, updates the methodology for calculating ex-ante contributions to the Fonds de garantie des dépôts Luxembourg (FGDL), Luxembourg's deposit guarantee scheme, by aligning risk adjustments with EBA Guidelines and introducing a zero floor for certain calculation components. This matters for Luxembourg credit institutions as it refines risk-sensitive contributions to meet DGSD target levels for two compartments (0.8% and an additional 0.8% of covered deposits), ensuring financial stability while promoting supervisory convergence across the EU.

What Changed

- Risk Adjustment Updates (Annex 2): Increases weight of 'Return on assets' (ROA) risk indicator from 7.5% to 10%; decreases 'Deposit-size Risk' from 15% to 12.5%; adjusts sliding scale bounds for...
Formula Component Floor (Annex 1): Introduces a zero floor for Component 1 (max(0, A_{j,k})), preventing negative values from offsetting Component 2; retains both components but ensures no...
Contribution Calculation Refinements: Annual contributions per compartment use updated formulas (e.g., formula (1) with max operator); contribution rates are uniform per compartment but...
Repeals Prior Circulars: Repeals CSSF-CPDI 23/34 (4 June 2020) and CSSF-CPDI 20/21 (as amended), replacing the 2020-reviewed method.

Suggested Considerations

Review and update internal systems/models for contribution calculations to incorporate new risk weights, bounds (Table 2), zero floor for Component 1, and revised formulas in Annexes 1-2.
Validate data reporting for risk indicators (e.g., ROA, LCR, NSFR, NPL) against adjusted sliding scales; ensure alignment with EBA Guidelines for simplicity and resource efficiency.
Prepare for FGDL invoices reflecting compartment-specific rates; monitor covered deposits for surveys (e.g., per Circular 25/49).
Conduct gap analysis against repealed circulars (20/21, 23/34); update policies for mergers, deposit changes, and gap fillings (Γ_λ).

Compliance Impact

Urgency: High – Institutions must promptly recalibrate risk models ahead of 2026 contributions to avoid miscalculations, penalties, or underfunding risks, as this directly impacts prudential contributions amid ongoing DGSD buildup to 2026; non-alignment with EBA could trigger CSSF scrutiny. Failure to adapt may increase costs for riskier profiles, emphasizing the shift to greater risk sensitivity.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Capital Markets & Trading

🇬🇧 BoE News medium

November 13th 2025

Bank of England, Monetary Authority of Singapore, and Bank of Thailand to explore synchronised FX settlement across borders

The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand announced a collaboration to explore the technical and policy implications of settling foreign exchange (FX) transactions using synchronised settlement mechanisms.

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Reporting & Disclosure

BankBroker DealerFintech

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇱🇺 CSSF Guidance high

November 13th 2025

Circular CSSF-CPDI 25/48

AI Analysis

Circular CSSF-CPDI 25/48 updates the methodology for calculating ex-ante annual contributions to the Fonds de garantie des dépôts Luxembourg (FGDL), Luxembourg's deposit guarantee scheme, specifically for the target levels in Articles 179 and 180 of the Law of 18 December 2015 on the failure of credit institutions and certain investment firms. This matters because it introduces a risk-adjusted contribution model aligned with EBA Guidelines, shifting from purely deposit-based calculations to ones incorporating institution-specific risk factors, potentially increasing contributions for higher-risk banks while promoting stability in the scheme's funding.

What Changed

- Modified Contribution Formula: Replaces prior methods (e.g., from Circulars CSSF-CPDI 16/01, 17/06, 20/21) with a new structure: Component 1 proportional to covered deposits growth (Γ_{j,k}) at...
Risk Adjustment Introduction: ARW is calculated using a weighted score (minimum 75% on EBA core categories, plus 12.5% deposit-size risk and 10% others) from indicators like leverage ratio (bounds...
Merger/Transfer Handling: For failed/merged institutions, contributions are redistributed proportionally to receiving institutions' deposit increases, capped by their own required amounts; no...
Floor and Alignment: Introduces max(0, A_{j,k}) floor to avoid negative components; ensures EBA compliance, simplicity, and risk sensitivity.

Suggested Considerations

Data Reporting: Submit accurate covered deposits data (e.g., as of 31 Dec 2025 per Circular 25/49) and risk indicator metrics (leverage, LCR, NSFR, NPL, etc.) to FGDL/CSSF for ARW calculation; prepare for annual surveys like CPDI 25/45 (31 Mar 2025 snapshot).
Internal Calculations: Model contributions using new formula C_{j,k} = ARW_{j,k} * max(0, max(A_{j,k}) + T_j D_{j-2,k}) * μ; forecast based on historical deposits (D_{j-2,k}) and growth.
Risk Monitoring: Track and improve key metrics (e.g., reduce NPLs below 3%, maintain LCR/NSFR >100%) to minimize ARW >1; review merger impacts.
Payment: Pay FGDL invoices reflecting uniform rates per compartment, risk-adjusted amounts.
Systems Update: Adapt finance/compliance systems for new inputs; align with EBA risk guidelines (https://www.eba.europa.eu/regulation-and-policy/single-rulebook/interactive-single-rulebook/1085).

Key Dates

AI Analysis

The PRA's PS22/25 finalizes an increase in the retail deposits threshold for the leverage ratio requirement from £50 billion to £75 billion, introducing a three-year averaging mechanism for calculations, effective 1 January 2026. This adjustment reflects nominal UK GDP growth since 2016 to maintain the Financial Policy Committee's original risk appetite while smoothing cliff-edge effects for firms like building societies. It matters for major UK banks and similar firms as it alters capital planning and leverage ratio applicability, potentially reducing immediate compliance burdens for those nearing the old threshold.

What Changed

- Retail deposits threshold raised from £50 billion to £75 billion, adjusted upward from the CP2/25 proposal of £70 billion to account for further GDP growth to Q2 2025 (rounded to nearest £5...
Introduction of a three-year moving average for calculating retail deposits metric, replacing point-in-time values to mitigate volatility and aid capital planning, particularly for building societies.
Non-UK assets threshold remains unchanged at £10 billion.
Modifications by consent disapplying leverage ratio rules during review will cease on 30 June 2026. These changes are implemented via updates to the Leverage Ratio – Capital Requirements and Buffers...

Suggested Considerations

Review and update internal retail deposits calculations to incorporate three-year moving average methodology starting 1 January 2026.
Assess current and projected retail deposits against £75 billion threshold (and £10 billion non-UK assets) to determine leverage ratio applicability and adjust capital planning accordingly.
Prepare to meet 3.25% leverage ratio minimum plus buffers if thresholds breached, including systems updates for averaging and reporting.
For firms with modifications by consent: Plan transition back to full leverage ratio rules by 30 June 2026, including any necessary capital raises or disclosures.
Update governance, risk models, and board reporting to reflect changes; conduct gap analysis against PRA Rulebook appendices in PS22/25.

Key Dates

5 March 2025

- PRA publishes Consultation Paper CP2/25 proposing £70 billion threshold

5 June 2025 DEADLINE

The Bank of England (the Bank) has today published a consultation paper (CP) setting out its proposed regulatory regime for sterling-denominated systemic stablecoins.

AI Analysis

The Bank of England has published a consultation paper (issued November 10, 2025) proposing a comprehensive regulatory regime for **sterling-denominated systemic stablecoins**, establishing requirements for backing assets, capital, redemption procedures, and operational safeguards. This represents a pivotal step toward implementing the UK's stablecoin framework, with the regime designed to maintain financial stability while enabling viable business models for systemic stablecoin issuers.

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

Prudential / Capital Requirements Authorisation & Licensing Operational Resilience / Outsourcing

BankFintechPayment Provider

🇨🇭 FINMA News medium

November 7th 2025

Update of Circular CSSF 22/821 on the Long Form Report, as amended by Circulars CSSF 23/845 and CSSF 24/865

AI Analysis

Circular CSSF 25/897 updates Circular CSSF 22/821 on the Long Form Report (LFR) for credit institutions, further aligning the self-assessment questionnaire (SAQ) with current supervisory priorities such as ML/FT risks and organizational aspects. This matters because it refines reporting to reduce redundancies, enhance transparency in REA assessments, and reflect evolving prudential focuses since prior amendments via Circulars CSSF 23/845 and 24/865, ensuring institutions' reports better support CSSF oversight.

What Changed

- Introduces new modules in the revised SAQ to align with supervisory points of focus, building on prior expansions (e.g., credit/counterparty risk, liquidity risk, climate-related risks from CSSF...
Emphasizes REA's independent assessment in the AML/CFT report, requiring exhaustive, transparent evaluations of ML/FT risks across institutions, branches, majority-owned subsidiaries abroad, and tied...
REA must verify and amend descriptive elements provided by management for the Financial Instruments and Funds Report and AML/CFT report, including quantitative metrics like pending file ratios.
Confirms the three-part LFR framework: institution-completed SAQ, REA's client assets protection report (per Article 7 of Grand-ducal Regulation of 30 May 2018), and REA's AML/CFT report; no Agreed...
Enhances REA responsibilities for collateral arrangements and client fund protections under relevant laws.

Suggested Considerations

Complete and submit revised SAQ annually, incorporating new modules on supervisory focuses like ML/FT risks and providing detailed data to REA.
Authorized management: Supply accurate descriptive information to REA for reports, covering client protections, collateral, and AML/CFT procedures across group entities.
REA: Independently assess and report on ML/FT risks and client assets with transparency, quantitative details, and verified management inputs; avoid imprecise language.
Ensure AML/CFT report details methodologies (e.g., sampling techniques) and covers branches/subsidiaries/tied agents.
Review prior LFR submissions against this update to align with suppressed redundancies and new emphases.

Key Dates

31 October 2025

- Issuance date of Circular CSSF 25/897

Three months after financial year DEADLINE

end; - Annual submission deadline for SAQ to CSSF (unchanged from prior circulars)

Five months after financial year DEADLINE

end; - Submission deadline for REA Reports (Financial Instruments and Funds Report; AML/CFT Report)

Six months after financial year

end; - Aligned submission for REA management letter (per amendments in CSSF 23/845 to Circular 22/826)

Compliance Impact

Urgency: High - Institutions face immediate refinement needs for 2025 year-end reporting (e.g., SAQ due ~Q1 2026), with stricter REA scrutiny on AML/CFT transparency risking supervisory findings or enforcement if vague assessments persist; aligns with ongoing CSSF push for risk-focused oversight amid regulatory evolution.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure AML / Financial Crime Prudential / Capital Requirements

Topics:

Bank

🇱🇺 CSSF Guidance high

November 3rd 2025

Circular CSSF 22/821 (as amended by Circulars CSSF 24/865, CSSF 23/845 and CSSF 25/897) (Updated)

Long Form ReportPractical rules concerning the self-assessment questionnaire to be submitted by institutionsMission and related reports of the statutory auditors (réviseurs d’entreprises agréés)

AI Analysis

**Circular CSSF 22/821** (as amended) fundamentally restructures how Luxembourg credit institutions report to the Commission de Surveillance du Secteur Financier (CSSF) by replacing the traditional Long Form Report with a digital **self-assessment questionnaire (SAQ)**, complemented by auditor-prepared reports. This shift represents a significant operational change that requires institutions to directly participate in prudential self-assessment while maintaining robust external audit oversight, making it essential for compliance and operational teams to understand new submission requirements and digital workflows.

What Changed

The circular introduces a three-component reporting framework that fundamentally alters the compliance landscape:
Self-Assessment Questionnaire (SAQ): A digital, annually-completed questionnaire that institutions must prepare directly, covering domains within CSSF and ECB prudential supervision competence
Agreed Upon Procedures (AUP) Reports: Reports prepared by approved statutory auditors (réviseurs d'entreprises agréés) on specific compliance areas
Separate REA Report on Financial Instruments Protection: A dedicated auditor assessment on safeguarding of client financial instruments Scope of SAQ Coverage: The questionnaire addresses prudential...

Suggested Considerations

*For Credit Institutions:
*Establish SAQ Governance: Designate authorized management responsible for reviewing and electronically signing the SAQ before submission; ensure accuracy and true-and-fair representation of information
*Data Preparation: Align SAQ responses with prudential reporting figures (FINREP/COREP/LAREX) under IFRS as of financial year closure
*Digital System Access: Obtain access credentials to the CSSF digital solution and familiarize compliance teams with the platform interface and submission workflow
*Module Completion: Complete all applicable SAQ modules as configured in the CSSF digital solution; note that module applicability and exemptions are institution-specific and recorded directly in the system

Key Dates

25 October 2022

- Circular CSSF 22/821 issued

23 December 2022

- Initial publication date (updated 15 November 2023)

31 December 2022

- Circular enters into application

Three months before financial year closure

- SAQ becomes accessible through CSSF digital solution

Three months after financial year closure DEADLINE

- Deadline for SAQ submission to CSSF

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements AML / Financial Crime Reporting & Disclosure

Topics:

Bank

🇱🇺 CSSF Guidance medium

November 3rd 2025

Circular CSSF 07/325 (as amended by Circulars CSSF 21/765, CSSF 22/827 and CSSF 25/898) (Updated)

Provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services

AI Analysis

Circular CSSF 07/325, as amended by Circulars CSSF 21/765, CSSF 22/827, and most recently CSSF 25/898, establishes supervisory requirements for EU credit institutions and investment firms operating in Luxembourg via branches or free provision of services (FOPS). It matters for compliance professionals as it defines CSSF's host authority role, notification obligations, reporting, and enforcement powers, ensuring alignment with CRD and MiFID II while adapting to evolving EU rules.

What Changed

- CSSF 21/765: Updated provisions following amendments to CSSF Regulation No 12-02, refining notification and operational requirements for branches and FOPS.
CSSF 22/827: Further amendments to align with CRD and MiFID II changes, including enhanced notifications for programme alterations (e.g., one-month prior written notice for changes in operations,...
CSSF 25/898: Latest update (noted in CSSF Newsletter No 298, November 2025), incorporating recent legal/regulatory developments, such as refined reporting via eDesk portal, AML/CFT compliance...

Suggested Considerations

Notifications: Submit initial branch/FOPS notification to home authority (including operational programme); notify changes (e.g., services, locations) at least one month in advance to both home authority and CSSF.
Reporting: Complete and sign SAQ (accurate, concise, true/fair view) via eDesk within six months post-year-end; provide REA-appraised AML/CFT and conduct reports, detailing branch procedures/controls.
Supervision cooperation: Facilitate home/CSSF on-site inspections (with professional secrecy guarantees); ensure branch compliance with Luxembourg laws (e.g., LFS Article 46(2)).
Ongoing: Maintain branch infrastructure, update for legal changes, and align with CSSF user guides for eDesk authentication.

Key Dates

One month before change effective date

- Notify CSSF and home authority in writing of programme changes (e.g., operations, services, additional places of business) per CRD Article 36(3) and MiFID II Article 35(10)

Within 3 months of receipt

- Home state authority communicates notification file to CSSF for branch/FOPS establishment

Six months after financial year

end; - Submit electronically signed SAQ (via eDesk), annual AML/CFT and conduct of business report (per Circular CSSF 19/731, to be repealed by CSSF 25/902), reviewed by REA

Compliance Impact

Urgency: Medium - Matters due to recurring annual reporting (e.g., SAQ, AML/CFT within six months post-year-end) and prior notifications for changes, with CSSF enforcement powers (e.g., measures under LFS Article 46(2)) for non-compliance. Recent CSSF 25/898 update (Nov 2025) requires immediate review of processes for digital submissions, but no retroactive changes or hard deadlines post-2025; grandfathering for pre-existing setups reduces immediate pressure.

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Authorisation & Licensing Reporting & Disclosure Senior Managers / Governance

Topics:

BankBroker Dealer

Banking & Credit Investment Management Capital Markets & Trading

🇱🇺 CSSF Guidance high

October 31st 2025

Circular CSSF 25/898

Update of Circular CSSF 07/325 on Provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services, as amended by Circulars CSSF 21/765 and CSSF 22/827

AI Analysis

Circular CSSF 25/898 updates Luxembourg's supervisory framework for EU-origin credit institutions and investment firms operating in Luxembourg through branches or free provision of services. This amendment enhances the self-assessment questionnaire (SAQ) used by the CSSF to align supervisory oversight with current regulatory priorities, particularly adding UCI administration as a new thematic module. The update reflects the CSSF's evolving supervisory focus and requires affected institutions to demonstrate compliance with expanded assessment criteria.

What Changed

The circular introduces the following material modifications to Circular CSSF 07/325: New Supervisory Module
UCI administration has been added as a thematic module to the self-assessment questionnaire, reflecting increased regulatory attention to fund administration practices. Enhanced Self-Assessment...
Existing modules have been updated to better align with supervisory objectives and current regulatory priorities.
The revised SAQ now captures a broader range of supervisory points of focus relevant to branch operations and cross-border service provision. Scope Clarification
The circular applies to credit institutions whose head office is in another EU Member State and to investment firms of EU origin established in Luxembourg by way of branches or exercising activities...

Suggested Considerations

*Update Self-Assessment Processes
Revise internal SAQ completion procedures to address the new UCI administration module
Ensure all thematic modules reflect current supervisory expectations
*Assess UCI Administration Compliance
If the institution provides or is involved in UCI administration services, conduct a detailed assessment of compliance with CSSF expectations

Key Dates

31 October 2025

- Circular CSSF 25/898 published by the CSSF

19 December 2025

- Related modernization framework (Circular CSSF 25/901) entered into force for Part II UCIs, SIFs, and SICARs

No specific implementation deadline stated DEADLINE

- Institutions should align their SAQ responses and compliance documentation with the updated framework immediately upon publication

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Operational Resilience / Outsourcing Reporting & Disclosure

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE News

October 31st 2025

Minutes of the Meeting of the Court of Directors held on 19 September 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankAsset ManagerWealth Manager

Banking & Credit Payments & E-Money Capital Markets & Trading

🇨🇭 FINMA Enforcement high

October 31st 2025

Aktualisierte Sanktionsmeldung: Belarus

Die Schweiz schliesst sich den weiteren Massnahmen des 18. Sanktionspakets der Europäischen Union (EU) gegenüber Russland sowie den zusätzlich zum 18. Sanktionspaket erlassenen Massnahmen gegenüber Belarus an. Dies hat der Bundesrat am 29. Oktober 2025 beschlossen. Im Fokus stehen Massnahmen im Güter-, Finanz und Energiebereich. Der Bundesrat hat dafür die Verordnung über Massnahmen gegenüber Belarus (SR 946.231.116.9) geändert.

AI Analysis

Switzerland has aligned with additional EU measures from the 18th sanctions package against Russia and specific Belarus measures, amending the Ordinance on Measures against Belarus (SR 946.231.116.9) to focus on goods, financial, and energy sectors. This strengthens the sanctions regime against Belarus to mirror Russia's more closely, aiming to enhance effectiveness and prevent circumvention. Compliance teams must prioritize asset freezes, transaction prohibitions, and reporting to avoid enforcement risks from FINMA and SECO.

What Changed

- Alignment with EU's 18th sanctions package (adopted 18 July 2025) and additional Belarus-specific measures, targeting Belarus's involvement in Russia's war against Ukraine.
Amendments to SR 946.231.116.9, harmonizing Belarus sanctions with Russia's regime, particularly in goods (e.g., export restrictions on chemicals, metals, plastics for military/tech strengthening),...
Requirements for financial intermediaries to implement prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO (State Secretariat for Economic Affairs).
Reporting to SECO does not exempt intermediaries from AML due diligence under Art. 6 GwG (Anti-Money Laundering Act) or suspicious activity reports under Art.

Suggested Considerations

Immediately screen client portfolios, transactions, and assets against updated SECO sanctions lists for Belarus (and cross-reference Russia lists).
Freeze assets of newly sanctioned persons/entities and prohibit dealings (e.g., no transactions with listed banks, no exports of restricted goods).
Report all affected business relationships to SECO promptly; conduct parallel GwG AML checks and file SARs if suspicions persist.
Update compliance systems, transaction monitoring rules, and staff training for goods/financial/energy sanctions; cease any prohibited services (e.g., SWIFT-like messaging for listed banks).
Review third-party exposures (e.g., Drittländer firms) for evasion risks and document compliance efforts for FINMA audits.

Key Dates

18 July 2025

- EU adopts 18th sanctions package against Russia and additional Belarus measures

29 October 2025

- Swiss Federal Council decides to align and amends SR 946.231.116.9

30 October 2025

- New provisions enter into force

13 December 2025

- Related expansion of Russia/Belarus lists (22 persons, 42 entities, 116 ships, 45 trade firms) takes effect, relevant for harmonization context

Compliance Impact

Urgency: High - Effective 30 October 2025, these changes demand immediate portfolio screening and reporting, with non-compliance risking FINMA enforcement, asset seizure, or criminal penalties under sanctions laws. Matters due to rapid alignment with evolving EU packages, increasing circumvention risks via Belarus, and heightened FINMA scrutiny on financial intermediaries amid ongoing Russia/Ukraine conflict.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Authorisation & Licensing

BankPayment ProviderAll Firms

Banking & Credit Payments & E-Money Capital Markets & Trading

🇨🇭 FINMA Enforcement critical

October 30th 2025

Aktualisierte Sanktionsmeldung: Russland

AI Analysis

On October 29, 2025, the Swiss Federal Council (Bundesrat) adopted comprehensive sanctions measures aligned with the EU's 18th sanctions package against Russia and additional measures against Belarus, effective October 30, 2025. This enforcement action significantly expands financial transaction prohibitions, export restrictions, and asset freezes, requiring Swiss financial intermediaries to immediately implement new compliance obligations across banking, goods trade, and energy sectors.

What Changed

Financial Sector Restrictions The Bundesrat expanded transaction prohibitions on Russian banks substantially:
Extended existing transaction bans from 23 Russian banks to cover all specialized payment messaging services, converting these to complete transaction prohibitions
Introduced new transaction prohibitions for 22 additional Russian banks
Prohibited all transactions with the Russian Direct Investment Fund (RDIF), its sub-funds, and affiliated enterprises, tightening restrictions previously limited to RDIF-financed projects Export...
Chemical components for fuel production

Suggested Considerations

*Implement transaction prohibitions on all 45+ Russian banks now subject to complete bans (previously 23 with partial restrictions)
*Freeze assets of all sanctioned persons and entities immediately upon notice
*Report affected business relationships to SECO—this reporting obligation does not relieve firms from conducting additional due diligence when suspicious indicators exist
*Screen counterparties against updated sanctions lists, particularly the RDIF and its sub-funds
*Cease all transactions with newly prohibited entities, including payment system operators and financial institutions in third countries (Belarus, Kazakhstan) supporting Russian war economy

Key Dates

October 29, 2025

- Federal Council decision adopted

October 30, 2025

- Measures effective date

Ongoing DEADLINE

- Financial intermediaries must implement prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO (State Secretariat for Economic Affairs)

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Operational Resilience / Outsourcing

BankPayment ProviderAll Firms

🇬🇧 BoE policy_statement high

October 28th 2025

FPC’s welcoming statement for policy statement (PS) 20/25 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – near final

The Financial Policy Committee (FPC) welcomes today the Prudential Regulation Authority’s (PRA’s) policy statement 20/25 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – near-final.

AI Analysis

The Financial Policy Committee (FPC) welcomes the Prudential Regulation Authority's (PRA) Policy Statement (PS) 20/25, which finalizes the second phase of the "Strong and Simple Framework" by introducing a simplified capital regime for Small Domestic Deposit Takers (SDDTs), alongside liquidity simplifications. This matters because it reduces regulatory burdens, enhances competition among smaller UK banks and building societies, and maintains resilience without full Basel 3.1 standards, with implementation on 1 January 2027.

What Changed

- Pillar 1 simplifications: Adoption of Basel 3.1 standardised approaches to credit and operational risk; disapplication of due diligence for credit risk, simplifications to market risk, removal of...
Pillar 2A methodologies: Simplifications for credit risk, credit concentration risk (CCoR), and operational risk; amendments to single-name concentration monitoring (cluster limit tightened to 200%,...
Capital buffers: Introduction of a new Single Capital Buffer (SCB) replacing the Capital Conservation Buffer (CCoB), Countercyclical Capital Buffer (CCyB), and PRA buffer; removal of CCyB adjustment...
Stress testing and reporting: Replacement of cyclical stress testing with non-cyclical framework; increased descoped reporting templates from 38 to 51, plus SDDT-specific versions of four templates.
Revocation of Interim Capital Regime (ICR): Firms opting into ICR must transition to full Basel 3.1 on 1 January 2026 or SDDT regime on 1 January 2027.

Suggested Considerations

Assess SDDT eligibility: Confirm if firm meets scope criteria from PS15/23; decide between SDDT regime or full Basel 3.1.
Update capital frameworks: Implement Pillar 1/2A simplifications, SCB, and reporting changes; recalibrate risk-weighted assets, buffers, and stress testing.
ICR transitions: If applicable, prepare for 1 January 2026 Basel 3.1 shift or 1 January 2027 SDDT entry; cease ICR reliance.
Policy and process revisions: Revise ICAAP/ILAAP per 20 January 2026 changes; adapt reporting (51 descoped templates).
Supervisory engagement: Monitor CCoR cluster limits (200% trigger); engage PRA on Pillar 2A via CP12/25.

Key Dates

17 January 2025 DEADLINE

Deadline for comments on related CP14/24

28 October 2025

Publication of near-final PS20/25

1 January 2026

Full Basel 3.1 standards apply to ICR opt-in firms (ICR revoked); some changes to SoP2/23, ICAAP/ILAAP update frequencies effective from PS4/26 publication

20 January 2026

Publication of final PS4/26 confirming PS20/25; effective date for ICAAP/ILAAP updates (including reverse stress-testing)

1 January 2027

Simplified capital regime for SDDTs takes full effect

Compliance Impact

Urgency: High – With full implementation on 1 January 2027 (less than 12 months from today), SDDTs face tight timelines for capital recalibrations, ICR exits, and reporting overhauls; missing deadlines risks supervisory intervention or full Basel 3.1 compliance costs. This significantly eases burdens (e.g., simpler buffers, reduced reporting) but requires proactive gap analysis to leverage simplifications while ensuring resilience.

References

AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.

Sectors:

Topics:

BankFintech

🇬🇧 PRA policy_statement high

October 28th 2025

PS19/25 – Restatement of CRR requirements – 2027 implementation – near-final

Policy statement 19/25

AI Analysis

**PS19/25** is the PRA's near-final policy statement finalizing how remaining Capital Requirements Regulation (CRR) provisions will be restated into the PRA Rulebook, effective January 1, 2027. This represents a critical step in the UK's transition away from assimilated EU law, giving the PRA expanded rule-making authority over UK banks, building societies, and investment firms while introducing targeted policy changes to securitisation, credit risk treatment, and ECAI mapping.

What Changed

The near-final policy confirms and finalizes the following substantive amendments: Securitisation Requirements
Largely preserves current requirements and supervisory expectations with targeted policy changes
Introduces a new formulaic p-factor for the standardised approach to securitisation
Establishes new capital rules for certain mortgage exposures
Clarifies supervisory expectations for unfunded credit protection in synthetic Significant Risk Transfer (SRT) securitisations by adding expectations to SS9/13 Level of Application of CRR...

Suggested Considerations

*Review the final policy statement when published in Q1 2026 to understand specific rule changes applicable to your firm's business model
*Assess securitisation impacts: If your firm engages in securitisation activities, particularly synthetic SRT structures with unfunded credit protection, evaluate compliance with clarified supervisory expectations in SS9/13
*Evaluate mortgage capital treatment: Firms with significant mortgage lending should assess impact of new capital rules for certain mortgage exposures
*Update ECAI mapping processes: Firms relying on external credit assessments must prepare for amendments reflecting Basel 3.1 implementation
*Establish implementation timeline: Develop a project plan for January 1, 2027 implementation, including:

Key Dates

28 October 2025

- PRA published near-final policy statement PS19/25

Q1 2026

- PRA intends to publish final policies and rule instruments alongside or shortly after final Basel 3.1 package publication

1 January 2026

- Implementation date for certain proposals finalized in PS12/25 (limited scope)

1 January 2027

- Implementation date for policies and requirements in PS19/25 (primary implementation date)

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Reporting & Disclosure

Topics:

BankBroker Dealer

🇬🇧 PRA Enforcement high

October 28th 2025

PS18/25 – Retiring the refined methodology to Pillar 2A – near–final

Policy statement 18/25

AI Analysis

PS18/25, published by the PRA on 28 October 2025, retires the "refined methodology" for Pillar 2A capital calculations, replacing it with reliance on the Basel 3.1 Credit Risk Standardised Approach (CR SA) for greater risk sensitivity, transparency, and proportionality. This near-final policy simplifies the Pillar 2A framework, reduces administrative burdens, and aligns with broader Basel 3.1 implementation and the Strong and Simple regime for Small Domestic Deposit Takers (SDDTs), promoting safety, soundness, and competition. It matters because it directly impacts credit risk capital add-ons for affected firms, requiring updates to ICAAP/SREP processes ahead of Basel 3.1 timelines.

What Changed

- Retirement of Refined Methodology: Eliminates supervisory adjustments to Pillar 2A credit risk add-ons based on IRB benchmarking, as Basel 3.1 CR SA better captures risks and reduces gaps between...
Policy Material Updates: - Near-final amendments to Statement of Policy (SoP) 5/15 – The PRA’s methodologies for setting Pillar 2 capital. - Final amendments to Supervisory Statement (SS) 31/15 –...
IRRBB and Pension Obligation Risk: Clarifications only (no substantive changes); minor IRRBB updates in SS31/15 deferred due to ongoing review (CP12/25 Phase 1); pension risk amendments finalized.
Future Alignment: Proposals from CP12/25 (e.g., removing IRB benchmarking, streamlining FSA076/FSA077 reporting) to be finalized in Q2 2026 PS, not reflected here.

Suggested Considerations

Review and update internal Pillar 2A methodologies, ICAAP/SREP documentation to remove refined methodology reliance and align with Basel 3.1 CR SA.
For SDDTs: Transition to SoP5/25 and SS4/25; assess impacts from PS20/25 overlap.
Model/calculate potential capital impacts from CR SA changes vs. prior IRB benchmarking adjustments.
Prepare for IRRBB/pension risk clarifications in SS31/15 submissions from 1 July 2026; monitor CP12/25 review.
Engage PRA supervisors on firm-specific transitions; update reporting (e.g., anticipate FSA076 streamlining).

Key Dates

28 October 2025

- PS18/25 publication with near-final policy and PRA feedback to CP9/24/CP7/24 consultations

January 2026

- PS2/26 published as final policy, minor adjustment to SS31/15 para 5.12A

Q2 2026

- Expected finalisation of CP12/25 Phase 1 proposals (Pillar 2A review, including IRB benchmarking removal)

1 July 2026

- Effective date for pension obligation risk amendments in SoP5/15 and SS31/15 clarifications (IRRBB changes partially deferred)

Basel 3.1 Implementation Date (TBD, aligned with CR SA go

live); - Retirement of refined methodology and related credit/operational risk changes

Compliance Impact

Urgency: High – Firms must act now to recalibrate Pillar 2A capital ahead of Basel 3.1 and 1 July 2026 effective dates, as retirement eliminates adjustments that reduced add-ons for low-risk CR SA firms, potentially increasing capital requirements despite Basel 3.1 offsets. Non-compliance risks supervisory scrutiny in SREP/ICAAP, higher Pillar 2A requirements, and misalignment with simplified regimes; benefits include reduced complexity/burden long-term.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA News medium

October 28th 2025

SoP5/15 – The PRA's methodologies for setting Pillar 2 capital

Statement of Policy 5/15

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

BankAsset ManagerWealth Manager

🇬🇧 PRA Guidance high

October 28th 2025

SS31/15 - The Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process (SREP)

Supervisory statement 31/15

AI Analysis

SS31/15 is the PRA's foundational supervisory statement establishing expectations for how UK-regulated banks and large investment firms must conduct their Internal Capital Adequacy Assessment Process (ICAAP) and how the PRA will evaluate these assessments through its Supervisory Review and Evaluation Process (SREP). This guidance is critical because it directly determines the capital requirements firms must maintain and establishes the supervisory framework through which the PRA assesses whether firms hold sufficient capital to cover material risks.

What Changed

The supervisory statement establishes several core regulatory expectations: ICAAP Requirements
Firms must assess on an ongoing basis whether they hold sufficient capital to cover all material risks, including interest rate risk in the banking book (IRRBB), market risk, operational risk,...
Firms must implement stress testing and scenario analysis as integral components of capital planning
The management body must be actively involved and engaged in all relevant stages of the ICAAP process SREP Assessment Framework The PRA reviews and evaluates:
Arrangements, strategies, processes and mechanisms implemented by a firm to comply with regulatory requirements

Suggested Considerations

*Immediate Compliance Actions
*Establish ICAAP Framework: Implement a comprehensive ICAAP that covers all material risks identified by the firm and the PRA, including those specific to the firm's business model and risk profile
*Risk Identification and Assessment: Conduct thorough identification of all material risks (IRRBB, market risk, operational risk, concentration risk, group risk, pension obligations, foreign currency lending) and assess capital adequacy against these risks
*Stress Testing and Scenario Analysis: Develop and maintain robust stress testing and scenario analysis capabilities, including:
Results of stress tests carried out in accordance with CRR requirements for firms using IRB approaches or internal models

Key Dates

29 July 2015

- SS31/15 first published, replacing PRA SS5/13 and PRA SS6/13

1 July 2026

- Effective date for updates to SS31/15 (as referenced in recent amendments)

Ongoing DEADLINE

- Firms must carry out ICAAP on a continuous basis in accordance with PRA ICAA rules

Compliance Impact

Urgency Rating: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements Senior Managers / Governance Reporting & Disclosure

Topics:

BankBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 PRA policy_statement high

October 28th 2025

PS20/25 – The Strong and Simple Framework: The simplified capital regime for Small Domestic Deposit Takers (SDDTs) – near-final

Policy Statement 20/25

AI Analysis

**PS20/25** represents the second and final phase of the PRA's "Strong and Simple Framework," establishing a significantly simplified capital regime for Small Domestic Deposit Takers (SDDTs) while maintaining their resilience. This near-final policy statement, published on 28 October 2025, fundamentally restructures capital requirements, liquidity rules, and operational frameworks for SDDTs—a critical development for smaller deposit-taking institutions seeking regulatory relief from disproportionate compliance burdens.

What Changed

The simplified capital regime introduces structural changes across all three pillars of capital requirements: Pillar 1 (Risk-Weighted Assets)
SDDTs must apply Basel 3.1 standardised approaches for credit risk and operational risk, with specific simplifications.
Due diligence requirements in the standardised approach to credit risk are disapplied for SDDTs.
Counterparty credit risk (CCR) for derivatives and credit valuation adjustment (CVA) risk are disapplied (with minor exceptions).
Market risk framework is simplified, with SDDTs applying the credit risk approach to trading book positions and removal of foreign-exchange and commodity risk capital requirements.

Suggested Considerations

*For SDDTs Currently Operating or Considering Entry:
*Notification Decision – Determine whether to enter the SDDT regime and submit notification to the PRA by 31 March 2026 if seeking to benefit from simplified rules.
*Policy Review – Conduct comprehensive review of PS20/25, related policy statements (PS18/25, PS19/25, PS8/25, PS14/25), and supporting methodologies (SoP5/25, SS4/25, amendments to SoP2/23).
*Capital Calculation Transition – Prepare systems and processes to transition from current capital calculation methodologies to Basel 3.1 standardised approaches with SDDT simplifications, including:
Removal of CCR and CVA calculations for derivatives

Key Dates

2026 (specific date TBD)

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

October 21st 2025

Aktualisierte Sanktionsmeldung: Haiti

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF, under which SECO operates) has published an update to the Annex of the Ordinance of 16 December 2022 on measures concerning Haiti, reflecting UN Security Council amendments to the sanctions list. This matters for Swiss financial institutions as it triggers immediate asset freeze checks and reporting obligations to ensure compliance with Switzerland's implementation of UN sanctions via FINMA and SECO oversight, avoiding enforcement risks amid Haiti's ongoing instability. The update aligns with global renewals of Haiti sanctions, emphasizing asset freezes on newly designated individuals and entities involved in destabilizing activities.

What Changed

- Amendment to the Annex of the Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti, incorporating UN Security Council updates to the sanctions list, likely adding individuals,...
Reflects broader UN measures, including renewal of travel bans, asset freezes, and arms embargoes; expansion of arms embargo scope to military goods, technology, technical assistance, financial...
Switzerland implements via SECO's sanction ordinances, with FINMA enforcing for supervised entities; parallels international updates like UN Resolution 2752 (2024) and 2794 (2025), which reintroduce...

Suggested Considerations

Screening and Freezing: Immediately review client databases, accounts, and holdings against the updated SECO Haiti sanctions list; freeze funds/economic resources of designated persons/entities without notice or delay; do not deal with or make available such assets indirectly.
Reporting: Notify SECO (via ams@seco.admin.ch or portal) and FINMA of matches, providing details on frozen assets; report any additional compliance-facilitating information.
Ongoing Monitoring: Update transaction screening systems for expanded arms embargo prohibitions (e.g., no financial services for military goods/technology to Haiti-connected persons); cease brokering or technical assistance if applicable.
Licensing Checks: Refrain from activities unless licensed by competent authorities (e.g., SECO for exemptions).
Documentation: Maintain records of checks and actions for audits; train staff on updated definitions (e.g., "military goods," "connected with Haiti").

Key Dates

18 October 2024

- UN Security Council Resolution 2752 adopted, expanding arms embargo (basis for Swiss/UK updates)

20 March 2025

- Canadian amendments add 3 individuals (related context)

Immediate (publication date: 21 October 2025) DEADLINE

- Swiss firms must check accounts, freeze assets or economic resources of newly listed persons without prior notice, and report to SECO/FINMA without delay

23 July 2025

- UK Haiti Sanctions Amendment Regulations enter force, reflecting similar UN changes

20 October 2025; - UNSC renews regime for one year, adds 2 entries to sanctions list (UK/Jersey notices align with Swiss publication)

Compliance Impact

Urgency: High - Immediate asset freeze and reporting requirements carry criminal penalties for non-compliance (e.g., aligned with UK fines up to updated monetary levels); failure risks FINMA enforcement, reputational damage, and misalignment with UN obligations amid Haiti's volatile security. Matters due to expanded scope capturing indirect financial facilitation, increasing false positive screening burdens for firms with Haiti exposure.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

October 21st 2025

Aktualisierte Sanktionsmeldung: Nicaragua

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 24. Juni 2020 über Massnahmen gegenüber Nicaragua (SR 946.231.158.5) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF/EAER) amended the annex of the Ordinance on Measures against Nicaragua (SR 946.231.158.5) on 20 October 2025, modifying entries for two individuals, with measures entering into force immediately thereafter. This update requires Swiss financial intermediaries to promptly screen and adjust sanctions compliance programs to reflect the revised designations, ensuring no prohibited dealings with the updated list. It matters because failure to implement could trigger FINMA enforcement, asset blocking obligations, and reporting requirements under Switzerland's Embargo Act (EmbG).

What Changed

- Modification of entries for two individuals in the annex of the Ordinance on Measures against Nicaragua (SR 946.231.158.5), likely involving updates to personal details, aliases, or sanction...
These changes align with ongoing maintenance of the sanctions list, originally imposed in June 2020 due to human rights, democracy, and rule-of-law concerns in Nicaragua, mirroring EU measures from...
No broader structural changes to the ordinance itself; this is a targeted annex update, similar to frequent "delta" amendments published by SECO.

Suggested Considerations

Block and report: Freeze any newly or modifiedly sanctioned assets; report to FINMA/SECO via MyFINMA if matches found.
Update compliance systems: Integrate the annex changes into screening tools, policies, and training; conduct risk assessments for Nicaragua exposure.
Monitor ongoing: Subscribe to FINMA news (https://www.finma.ch/en/news/) and SECO updates for further deltas.
Document implementation to demonstrate due diligence in case of FINMA audits.

Key Dates

20 October 2025

- Amendment to the annex published by WBF/EAER

21 October 2025

- FINMA publishes updated sanctions notice and notifies via MyFINMA

21 October 2025, 11:00 pm

- Measures enter into force; immediate blocking and screening obligations apply

Compliance Impact

Urgency: High – Immediate effect from 21 October 2025 demands swift action to avoid violations, as asset freezing is retroactive and non-compliance risks FINMA enforcement (e.g., fines, license restrictions). This matters amid frequent 2025 sanctions updates (e.g., 10+ Nicaragua/Myanmar deltas), heightening operational burden and geopolitical risk exposure in FINMA's 2025 Risk Monitor.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

🇨🇭 FINMA Enforcement high

October 21st 2025

Aktualisierte Sanktionsmeldung: Islamischen Republik Iran

Am 20. Oktober 2025 hat das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF die Liste der in diesem Kontext sanktionierten Personen, Unternehmen und Organisationen geändert. Das WBF hat die für die Schweiz massgebliche Sanktionsdatenbank SESAM (SECO Sanctions Management) angepasst und die Anpassung auf seiner Internetseite dringlich veröffentlicht. Die Änderung tritt am 21. Oktober 2025 23:00 Uhr in Kraft. Die Finanzintermediäre werden gemäss den Vorschriften der Verordnu...

AI Analysis

This FINMA publication notifies Swiss financial intermediaries of updates to the Swiss sanctions list against the Islamic Republic of Iran, as amended by the Federal Department of Economic Affairs, Education and Research (WBF) on October 20, 2025, via the SESAM sanctions database. It matters because financial firms must immediately screen clients, freeze assets, and report matches to comply with Swiss sanction ordinances, amid escalating global Iran sanctions following UN snapback mechanisms. Failure to act risks enforcement by FINMA or SECO.

What Changed

The core change is the WBF's amendment to the SESAM (SECO Sanctions Management) database, updating the list of sanctioned persons, companies, and organizations related to Iran sanctions. This aligns with the Swiss Iran Ordinance and reflects broader international reimposition of UN sanctions via the JCPOA snapback mechanism triggered in late September 2025. No new Swiss-specific requirements are introduced beyond standard implementation of the updated list, but it emphasizes urgent publication and binding effect under existing ordinances.

Suggested Considerations

Immediate screening: Run full client and transaction screening against updated SESAM list via SECO's website or integrated tools.
Asset freeze: Block any funds, assets, or economic resources of newly listed parties without delay; report freezes to SECO within specified timelines (typically 30 days).
Transaction blocks and reporting: Halt prohibited dealings; file suspicious activity reports (SARs) to Money Laundering Reporting Office Switzerland (MROS) if Iran exposure suspected.
Due diligence enhancement: Review existing Iran-related exposures, especially shadow banking, oil/petroleum networks, or IRGC-linked entities; update risk assessments.
Internal controls: Ensure automated screening tools are synced with SESAM by effective date; train staff on updates.

Key Dates

21 October 2025, 23:00 Uhr

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇦🇪 DFSA News high

October 20th 2025

Dubai advances position as Middle East, Africa and South Asia’s leading global…

20 OCT 2025, 10:00 AM Dubai advances position as Middle East, Africa and South Asia’s leading global…

Sectors:

Topics:

Authorisation & Licensing Prudential / Capital Requirements Technology & Cyber

BankAsset ManagerBroker Dealer

🇬🇧 PRA News high

October 20th 2025

Effective practices: Cyber response and recovery capabilities

Publication from the Bank, PRA and FCA to firms and financial market infrastructures highlighting observed effective practices of cyber response and recovery capabilities.

Sectors:

Operational Resilience / Outsourcing Technology & Cyber

Topics:

BankFintechPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

October 18th 2025

Global Economic Outlook Panel – panel remarks by Andrew Bailey

Given at the Group of Thirty’s 40th International Banking Seminar 2025, Washington DC

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA News medium

October 17th 2025

The PRA has published LIAC02/25, a consultation on proposed low impact amendments to rules and policy.

AI Analysis

The PRA's LIAC02/25 consultation, published on 16 October 2025, proposes low-impact amendments to its Rulebook and policy materials, including technical fixes, conditional disapplications, and miscellaneous corrections to enhance accuracy and align with prior policies. These changes matter for PRA-regulated firms as they ensure regulatory consistency with minimal operational burden, with most taking effect in late 2025 or early 2026 following the consultation period.

What Changed

The main proposals include:
Conditional disapplication of PRA General Provisions to implement deference arrangements under the UK-Swiss Berne Financial Services Agreement.
Amendment to Transitional Measure on Technical Provisions (TMTP) Part, Rule 5.2, introducing a new formula for 'Wr' effective 31 December 2025, using existing 'Wq' values without retrospective...
Amendment to Insurance Special Purpose Vehicle (ISPV) Part, Solvency Requirements Rule 2.2A(3), clarifying the 'no co-mingling' requirement, effective 23 December 2025, alongside updates to SS2/25.
Miscellaneous amendments to the PRA Rulebook, such as glossary updates, fundamental rules, general provisions, interpretation, notifications, and policyholder protection parts. Amendments made...

Suggested Considerations

Submit consultation responses by 13 November 2025 via the PRA's Low Impact Amendments Process page, focusing on proposed disapplications, TMTP formula, ISPV rules, and miscellaneous changes.
Review and update internal policies for TMTP calculations to adopt the new 'Wr' formula from 31 December 2025 year-end, without restating priors.
Confirm compliance with ISPV 'no co-mingling' clarifications and SS2/25 updates by 23 December 2025.
Verify Rulebook references (e.g., Securitisation, parent undertakings) and adjust systems for effective dates like 19 January 2026.
For friendly societies/credit unions: Note zero minimum fees already reflected in 2025/26 invoices; no further action needed.

🇬🇧 PRA policy_statement high

October 15th 2025

PS21/25 – Remuneration Reform

Policy statement 21/25

AI Analysis

PS21/25 implements reforms to PRA remuneration rules for banks, building societies, and PRA-designated investment firms, simplifying Material Risk Taker (MRT) identification, aligning deferral periods with international standards (4 years for non-SMF MRTs and 5 years for SMFs), and enhancing links to individual accountability under the Senior Managers Regime (SMR). These changes matter as they reduce regulatory burden, increase flexibility in bonus structures (e.g., marginal deferral rates and cash payments), and promote competitiveness while maintaining risk alignment, potentially reversing trends toward higher fixed pay.

What Changed

- MRT Identification: Simplified quantitative threshold to the top 0.3% of earners (assessed against risk impact); qualitative criteria unchanged; raised proportionality threshold for disapplying...
Deferral Periods: 4-year minimum for non-SMF MRTs (previously varied); reduced to 5 years for SMFs (from 7 years); aligns with FCA and international practice.
Deferral Rates: Marginal system—40% deferral on first £660,000 of variable remuneration, 60% above; replaces cliff-edge approach for proportionality.
Upfront Cash Flexibility: Removed equal cash/instrument split requirement (Remuneration 15.16 deleted); deferred portion should have higher instrument share as good practice (new SS2/17 para 5.44B);...
Individual Accountability: New rules/expectations for adjusting remuneration up the management chain for adverse outcomes; senior management accountable against PRA priorities; Remuneration...

Suggested Considerations

Review and update MRT identification processes, applying simplified top 0.3% threshold and new proportionality exemptions.
Revise remuneration policies for deferral (4/5 years, marginal rates), upfront cash flexibility, and instrument expectations; update bonus award calculations.
Embed SMR-linked adjustments: Define criteria for chain-wide pay reductions on adverse outcomes; align Remuneration Committee oversight with PRA priorities and risk events.
For dual-regulated firms: Transition to PRA-cross-referenced FCA rules (SYSC 19D).
Optional early adoption for specified changes on 2025/unvested awards; document governance for RemCo approvals and board policies.

Key Dates

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 BoE News

October 10th 2025

Minutes of the Securities Lending Committee meeting – September 2025

The Securities Lending Committee is a forum for market participants and authorities to discuss the UK securities lending market.

Sectors:

Topics:

Operational Resilience / Outsourcing Reporting & Disclosure Market Abuse / Surveillance

Asset ManagerBankBroker Dealer

Banking & Credit Capital Markets & Trading Investment Management

🇦🇪 DFSA News

October 9th 2025

DFSA and HKMA to co-host second Climate Finance Conference to strengthen…

09 OCT 2025, 12:00 PM DFSA and HKMA to co-host second Climate Finance Conference to strengthen…

Sectors:

Topics:

ESG Prudential / Capital Requirements Technology & Cyber

BankAsset ManagerFintech

Banking & Credit Capital Markets & Trading Investment Management

🇬🇧 PRA policy_statement high

October 9th 2025

PS16/25 – Markets in Financial Instruments Directive Organisational Regulation (MiFID Org Reg)

Policy statement 16/25

AI Analysis

PS16/25 is the PRA's policy statement restating firm-facing organisational requirements from the MiFID Org Reg (e.g., outsourcing, record-keeping, risk management, compliance, internal audit, and governance) into the PRA Rulebook, with no material changes, to align with HMT's revocation of the EU regulation under FSMA 2023. This matters because it ensures continuity of prudential oversight for PRA-authorised firms post-revocation, preventing enforcement gaps in systems and controls while adapting provisions (e.g., supervisory function) to UK governance structures.

What Changed

- Restatement of requirements: Provisions from MiFID Org Reg Articles on outsourcing, record-keeping, control procedures, risk management, compliance, internal audit, and governance are transferred...
Supervisory function adjustment: Following consultation feedback, PRA retained Article 25 provisions but substituted "governing body" for "supervisory function" to fit UK firm structures, preserving...
Technical standards update: Minor amendment to algorithmic trading technical standards, replacing references to revoked MiFID Org Reg Article 23(2) with new PRA Rulebook rule 2.2D.
No policy or scope changes; adjustments mainly reflect PRA drafting style and respond to feedback for clarity.

Suggested Considerations

Review and map existing MiFID Org Reg compliance processes against restated PRA Rulebook provisions (e.g., update policies on outsourcing, risk management, governance).
Confirm governing body oversight aligns with adapted Article 25 requirements; document any adjustments for UK structures.
Update internal references in algorithmic trading governance documents to new rule 2.2D.
Conduct gap analysis and training on minor clarifications; prepare for dual FCA/PRA alignment if applicable.
Monitor HMT commencement order; if delayed, reassess implementation plans.

Key Dates

9 October 2025

- PRA publishes PS16/25 with final rules and feedback to CP9/25 consultation

23 October 2025

- New PRA rules and technical standards come into force, coinciding with HMT's anticipated revocation of MiFID Org Reg via commencement order (FCA rules align on same date)

Prior to 23 October 2025

- HMT expected to lay second Statutory Instrument revoking remaining MiFID Org Reg provisions; PRA may delay/revoke rules if not made

Compliance Impact

Urgency: High – Firms must act promptly as rules take effect on 23 October 2025 (past deadline as of current date), with no transition period; non-compliance risks enforcement gaps in core systems/controls post-revocation. Impact is low for substance (restatement only) but requires documentation updates to avoid supervisory scrutiny, especially for governance and outsourcing.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Topics:

Operational Resilience / Outsourcing Senior Managers / Governance Reporting & Disclosure

BankBroker DealerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

October 9th 2025

Explaining the consumption gap - speech by Catherine L Mann

Given at the Resolution Foundation

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAsset Manager

Capital Markets & Trading Banking & Credit Investment Management

🇨🇭 FINMA Guidance medium

October 9th 2025

FINMA publishes guidance on the extension of the transitional period for exchange of collateral in certain OTC derivatives transactions

The Swiss Financial Market Supervisory Authority FINMA today published guidance on the extension of the transitional period for exchange of collateral in certain OTC derivatives transactions. The current transitional period runs until 1 January 2026 and will be extended by a further three years.

AI Analysis

FINMA extended the transitional period for collateral exchange requirements in non-centrally cleared OTC derivatives from January 1, 2026 to January 1, 2029, providing Swiss market participants with three additional years of relief from mandatory collateral posting obligations on certain equity derivatives. This extension aligns Swiss regulation with the EU's indefinite exemption introduced in December 2024, preventing competitive disadvantages for Swiss derivatives traders while a permanent regulatory framework is developed.

What Changed

The primary regulatory change is the extension of the transitional period under Article 131 paragraph 5bis of the Financial Market Infrastructure Ordinance (FinMIO). Specifically:
Previous deadline: January 1, 2026
New deadline: January 1, 2029
Scope: Applies to non-centrally cleared OTC derivatives transactions involving equity options, index options, and equity basket derivatives that are not cleared through a FINMA-authorized or...
Regulatory basis: FINMA Guidance 04/2025, issued October 9, 2025, under authority granted by Article 131 paragraph 6 FinMIO The extension does not eliminate the collateral exchange obligation;...

Suggested Considerations

*Acknowledge the extended timeline: Update internal compliance calendars and risk management frameworks to reflect the January 1, 2029 deadline rather than January 1, 2026.
*Monitor FinMIA revision: Track ongoing legislative developments regarding the permanent regulatory framework for OTC derivatives to prepare for post-2029 compliance requirements.
*Assess competitive positioning: Evaluate whether the extended transitional period affects trading strategies, counterparty relationships, or market competitiveness relative to EU and UK peers.

Key Dates

October 9, 2025

- FINMA Guidance 04/2025 published and takes effect immediately

January 1, 2029

- New expiration date for the transitional period; collateral exchange obligations become mandatory unless further extended or a permanent framework is adopted

Compliance Impact

Urgency: Medium

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Deadline: 1 January 2026

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

Broker DealerBankAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

October 8th 2025

Uncertainty, structural change and monetary policy strategy - speech by Huw Pill

The Maxwell Fry Lecture of the Money, Macro and Finance Society given at the University of Birmingham

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 BoE Speech

October 8th 2025

From new ideas to new market structures, how innovation is reshaping the financial system − speech by Sasha Mills

Given at AFME OPTIC Conference, Amsterdam

Sectors:

Topics:

Technology & Cyber Prudential / Capital Requirements Consumer Protection / Conduct

BankFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 BoE News

October 8th 2025

Minutes of the London FXJSC Main Committee Meeting - 26 June 2025

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Operational Resilience / Outsourcing

BankBroker DealerPayment Provider

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 BoE News

October 8th 2025

Minutes of the London FXJSC Legal Sub-Committee Meeting - 24 June 2025

Sectors:

Topics:

AML / Financial Crime Market Abuse / Surveillance Reporting & Disclosure

BankBroker DealerFintech

Capital Markets & Trading Investment Management Banking & Credit

🇬🇧 BoE News

October 8th 2025

Sustainable Finance Periodic & ongoing disclosures Corporate sustainability reporting: AMF’s response to EFRAG’s consultation on the simplification of European standards

AI Analysis

The Autorité des Marchés Financiers (AMF), France's financial markets regulator, responded to EFRAG's July 31, 2025, public consultation on simplified European Sustainability Reporting Standards (ESRS) under the CSRD, welcoming a 57% reduction in mandatory datapoints and 55% shorter standards while urging refinements in materiality, climate reporting, and financial effects disclosure. This matters for compliance professionals as it signals upcoming proportionate ESRS revisions that could ease reporting burdens for large listed companies starting voluntarily in 2026, enhancing investor usability without diluting key sustainability insights.

What Changed

AMF endorses EFRAG's simplifications but proposes targeted adjustments:
Materiality assessment: Support for proportionate double materiality (impacts, risks, opportunities or IRO) but requires minimum specification of impact type (positive/negative, risk, opportunity);...
Climate reporting: Regrets removal of "net zero" definition (90-95% gross GHG reduction trajectory), essential for 2024 comparability.
Anticipated financial effects: Strongly backs Option 1 (quantitative info required, with exceptions) for climate matters to align with ISSB and investor needs; flexible for other topics.
Reporting reliefs: Supports "undue costs/efforts" exemptions (e.g., metrics except Scope 3 GHG) with time-bound limits to match ISSB. EFRAG's draft cuts mandatory datapoints by 57-61%, eliminates...

Suggested Considerations

Monitor EFRAG's post-consultation technical advice (end-November 2025) and EC adoption process; prepare for voluntary uptake in 2026 reporting cycles.
Listed companies: Refine materiality processes to specify IRO types and use gross impacts; retain "net zero" definitions in climate plans; prioritize quantitative climate financial effects.
Conduct or update materiality assessments per EFRAG guidance (e.g., value chain, thresholds); leverage "undue costs" relief judiciously with time limits.
Prepare xHTML digital tagging for sustainability statements in management reports.
French firms: Align 2026 statements with AMF supervisory expectations, noting non-adoption of ESMA's GLESI guidelines pending full CSRD transposition.

Key Dates

July 31, 2025

- EFRAG publishes draft simplified ESRS for public consultation

September 29, 2025

- Consultation closes

End of November 2025

- EFRAG submits technical advice to European Commission

June 2026

- Sector-specific ESRS adoption planned

2026 financial year (reports in 2027)

- Voluntary application of simplified standards, if legislative timeline allows

Compliance Impact

Urgency: Medium - Not immediate mandates, as this is a consultation response with voluntary 2026 start, but proactive preparation is essential for large listed firms facing AMF scrutiny on 2025/2026 statements. Matters due to potential burden reduction (57% fewer datapoints) balanced by AMF's push for investor-critical details like quantitative climate effects, aligning EU CSRD with global ISSB standards amid supervisory ramp-up.

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Asset ManagerBankAll Firms

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇬🇧 BoE News medium

October 7th 2025

Minutes: CBDC Academic Advisory Group - June 2025

Meeting of the CBDC Academic Advisory Group

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

October 7th 2025

Aktualisierte Sanktionsmeldung: Burundi

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen gegenüber Burundi (SR 946.231.121.8) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF/DEFR) has updated the annex to the Ordinance on Measures against Burundi (SR 946.231.121.8), modifying the list of sanctioned persons, companies, and organizations in the SESAM database. This matters for Swiss financial institutions as it imposes immediate asset freeze and transaction restrictions, aligning with FINMA's heightened focus on sanctions risks amid geopolitical tensions.

What Changed

- Modification to the list of sanctioned individuals, enterprises, and organizations under the Burundi sanctions ordinance.
Update published in the SECO Sanctions Management (SESAM) database, which is the authoritative Swiss reference for sanctions compliance.
No details on specific additions, deletions, or alterations to designations are provided in the publication summary, but changes trigger mandatory screening and blocking obligations.

Suggested Considerations

Screen clients, transactions, and assets against the updated SESAM database immediately upon effectiveness (post-8 October 2025, 23:00).
Freeze assets of newly listed or modified sanctioned parties without prior notice and report to SECO/FINMA via MyFINMA notification system.
Cease any direct or indirect provision of funds/economic resources to sanctioned parties; conduct retrospective reviews of existing relationships for Burundi exposure.
Update internal sanctions screening tools, policies, and staff training to reflect SESAM changes; document compliance efforts for potential FINMA audits.

Key Dates

8 October 2025, 23:00 hours

- Changes enter into force; asset freezes and prohibitions apply immediately thereafter

6 October 2025

- DEFR modifies the sanctions list and updates SESAM database

Compliance Impact

Urgency: High - Immediate effectiveness (8 October 2025) requires swift database rescreening to avoid violations, with FINMA emphasizing sanctions evasion risks in its 2025 Risk Monitor amid geopolitical shifts; non-compliance risks enforcement actions, fines, or reputational damage.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

October 7th 2025

Sanktionsmeldung: Guinea-Bissau

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat eine Änderung des Anhangs 1 der Verordnung vom 1. Juni 2012 über Massnahmen gegenüber Guinea-Bissau (SR 946.231.138.3) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published an amendment to Annex 1 of the Ordinance on Measures against Guinea-Bissau (SR 946.231.138.3) on October 7, 2025, updating the sanctions list maintained in the SESAM database. This change, effective October 8, 2025, requires Swiss financial intermediaries to immediately screen clients, freeze assets of listed individuals, and report to SECO, reinforcing compliance with UN Security Council Resolution 2048 (2012) and EU measures following the 2012 military coup. It matters for preventing sanctions evasion and ensuring adherence to Switzerland's Embargogesetz (EmbG), with non-compliance risking FINMA enforcement.

What Changed

- Amendment to Annex 1 of the Ordinance dated June 1, 2012, on measures against Guinea-Bissau, as published by WBF on October 6, 2025, and reflected in FINMA's announcement on October 7, 2025.
Updates to the SESAM (SECO Sanctions Management) database, which is the authoritative Swiss sanctions list; specific details on additions, deletions, or modifications to listed natural persons (e.g.,...
Prohibition on dealings with listed persons/entities; mandatory asset freeze and reporting obligations under the ordinance and Geldwäschereigesetz (GwG).

Suggested Considerations

Screen customer relationships against the updated SESAM list immediately upon effectiveness using heightened due diligence per GwG Art. 6.
Freeze assets of any matched listed persons/entities and prohibit new business.
Report affected relationships to SECO without delay; conduct additional checks and file SARs with MROS if suspicions remain.
Update internal sanctions screening systems and monitor MyFINMA for FINMA notifications.
Document compliance actions to demonstrate adherence in audits or FINMA inquiries.

Key Dates

October 8, 2025, 23:00 Uhr DEADLINE

- Changes enter into force; immediate implementation required for asset freezes and prohibitions

October 6, 2025

- WBF adjusts SESAM database and publishes changes on its website

October 7, 2025

- FINMA publishes the sanctions notice

Compliance Impact

Urgency: High - Immediate asset freeze and reporting are mandatory from October 8, 2025, with violations exposing firms to FINMA fines, reputational damage, or criminal liability under EmbG and GwG. This update underscores ongoing list volatility (e.g., similar 2024 change), demanding robust real-time screening to avoid inadvertent breaches in low-volume Guinea-Bissau exposures.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

October 7th 2025

Aktualisierte Sanktionsmeldung: Syrien

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) updated Annex 7 of the Ordinance on Measures against Syria (SR 946.231.172.7) on October 6, 2025, modifying the list of sanctioned persons, companies, and organizations, effective October 8, 2025. This change requires Swiss financial intermediaries to immediately implement asset freezes and report affected relationships to SECO, amid broader Swiss alignment with EU and US easing of Syria sanctions earlier in 2025. It matters for compliance as it mandates swift screening updates to avoid violations of ongoing targeted financial sanctions.

What Changed

- The WBF amended the list of sanctioned entities in Annex 7 of SR 946.231.172.7, updating the SESAM sanctions database (SECO Sanctions Management).
Financial intermediaries must enforce prohibitions, freeze assets of listed parties, and report business relationships to SECO.
Reporting to SECO does not exempt intermediaries from conducting due diligence under Art. 6 GwG (Anti-Money Laundering Act) and filing suspicions with the Money Laundering Reporting Office under Art.

Suggested Considerations

Screen client portfolios, accounts, and transactions against the updated SESAM database immediately upon effectiveness.
Freeze assets of newly listed or affected sanctioned parties and implement transaction prohibitions.
Report all impacted business relationships to SECO promptly.
Conduct GwG due diligence (Art. 6) on any suspicions; file with Money Laundering Reporting Office (Art. 9 GwG) if unresolved.
Update internal sanctions screening systems and train staff on changes; retain evidence of compliance for audits.

Key Dates

October 8, 2025 at 23:00

- Changes enter into force; asset freezes and prohibitions apply immediately

October 6, 2025

- WBF publishes update to Annex 7 and SESAM database

Compliance Impact

Urgency: High - Immediate asset freeze and reporting obligations take effect October 8, 2025, with non-compliance risking FINMA enforcement, fines, or criminal liability under sanctions laws. This matters as it occurs against a backdrop of Syria sanctions easing (e.g., Swiss economic sanctions lifted June 20, 2025; EU measures May 27, 2025), heightening risk of oversight on residual targeted lists amid increased Syria-related flows.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

October 6th 2025

Investment in Scotland - speech by Andrew Bailey

Given at the Scotland Global Investment Summit 2025

Sectors:

Topics:

Prudential / Capital Requirements ESG Authorisation & Licensing

Asset ManagerBankWealth Manager

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

🇱🇺 CSSF Guidance medium

October 6th 2025

Circular CSSF-CPDI 25/47

Survey on the amount of covered deposits held on 30 September 2025

AI Analysis

Circular CSSF-CPDI 25/47 mandates a regular survey by Luxembourg credit institutions on the amount of covered deposits as of **30 September 2025**, focusing on eligible and covered deposits under the Law of 18 December 2015 on deposit guarantee schemes. It matters because it ensures accurate reporting to the Conseil de protection des déposants et des investisseurs (CPDI) for FGDL (Fonds de garantie des dépôts Luxembourg) compliance, with detailed field-by-field instructions for complex accounts like omnibus and trusts.

What Changed

This circular updates prior guidance (notably CSSF-CPDI 16/02 as amended by CSSF-CPDI 23/35) by specifying the survey reference date of 30 September 2025 and providing granular reporting fields for eligible deposits (e.g., exclusions for financial institution-like structures and life insurance products), covered deposits capped at €100,000 per person, and breakdowns by natural/legal persons, including shares in omnibus accounts, fiduciaries, trusts, sub-accounts, and segregated accounts.

Suggested Considerations

Collect data on total deposits (field 0100), apply exclusions per Article 172 (field 0201), calculate covered deposits up to €100,000 limit (field 0300), and break down by natural/legal persons, balance thresholds, and special accounts (fields 0210-0330).
For omnibus/trust accounts, obtain and report shares of identifiable entitled persons, apportion by legal status of holder, and ensure fields like 0226 and 0255 reconcile.
Designated management reviews/approves data; transmit accurately to CSSF/CPDI, respecting prior circulars (e.g., 16/02, 23/35).
Exclude non-creditor accounts or those assimilated to financial institutions/life insurance.

Key Dates

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Payments & E-Money Capital Markets & Trading

🇨🇭 FINMA Enforcement critical

October 1st 2025

Aktualisierte Sanktionsmeldung: Russland

AI Analysis

The publication announces updates by the Swiss Federal Department for Economic Affairs, Education and Research (WBF) to Annex 8 of the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), aligning Swiss sanctions against Russia with ongoing international restrictions. This matters for Swiss financial intermediaries as it imposes immediate obligations to block assets, report relationships, and conduct AML checks, amid escalating sanctions that heighten compliance risks and enforcement scrutiny from FINMA.

What Changed

- Amendments to Annexes 8, 14, 15b, and 33 of the Ordinance, though specific details on new listings or prohibitions are not detailed in the announcement.
Continuation of standard requirements: Implement prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO (State Secretariat for Economic Affairs).
These updates follow a pattern of prior changes, such as expanded export bans on dual-use goods (e.g., chrome ore, chemicals), transaction bans on additional Russian banks, and prohibitions on...

Suggested Considerations

Screen and freeze assets: Immediately identify and block assets of newly sanctioned persons/entities per updated annexes; do not release without authorization.
Report to SECO: Notify SECO of all affected business relationships without delay.
Conduct AML due diligence: Perform additional clarifications under Art. 6 GwG (Anti-Money Laundering Act) on suspicions; file suspicious activity reports (SARs) with the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG if unresolved—SECO reporting does not substitute this.
Review transactions: Halt prohibited activities (e.g., payments to/from listed banks, exports of controlled goods, RDIF investments); update screening tools and client onboarding processes.
Document compliance: Maintain records of screenings, blocks, and reports for FINMA audits.

Compliance Impact

Urgency: Critical – Effective immediately at 23:00 on January 13, 2026, with no grace period, this demands urgent system updates, screenings, and reporting to avoid FINMA enforcement (e.g., fines, licenses at risk). It amplifies AML / Financial Crime risks in a high-scrutiny environment, as FINMA's Risikomonitor 2025 highlights Russia sanctions as a top concern amid iterative updates.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankPayment ProviderAll Firms

🇺🇸 FINRA regulatory_notice medium

October 1st 2025

Letter to chief financial officers of selected PRA-regulated deposit-takers which provides thematic feedback from the PRA’s review of written auditor reports received in 2025 covering IFRS 9 expected credit loss accounting (ECL) and accounting for climate risk.

AI Analysis

The PRA's Dear CFO Letter, issued on 30 September 2025 by David Bailey, provides thematic feedback to selected PRA-regulated deposit-takers based on its 2025 review of auditor reports on IFRS 9 expected credit loss (ECL) accounting and climate risk integration. It matters because it highlights persistent supervisory concerns around timely credit risk recognition, model limitations, recovery assumptions, and climate impacts amid economic uncertainty, urging firms to strengthen ECL processes to ensure safety and soundness.

What Changed

This is not a formal rule change or new regulation but thematic feedback building on prior years, with "areas of focus" for improvement:
Model risk: Elevated due to macroeconomic/geopolitical uncertainty; firms must enhance post-model adjustments (PMAs) for completeness (e.g., affordability risks, sector vulnerabilities), granular...
Recovery strategies: Ongoing risk of historical bias in Loss Given Default (LGD) estimates; challenge realism of recovery assumptions for vulnerable sectors/borrowers.
Climate risks: Greater emphasis on identifying/assessing/modelling climate drivers in ECL (e.g., via expert judgement, stress tests); align with PRA's SS1/23 on model risk and upcoming clarifications...

Suggested Considerations

Conduct self-assessments against annex "areas of focus" (model risk, recovery, climate) and share with auditors ahead of 2026 reporting.
Enhance PMAs: Challenge completeness for emerging risks (e.g., interest rates, sectors); link to emerging risk analysis.
Model improvements: Monitor redevelopment plans; ensure granular monitoring, comprehensive reviews, skilled independent assurance; define model boundaries.
Recovery processes: Strengthen challenges to LGD recovery assumptions for vulnerable exposures.
Climate integration: Improve risk identification, quantitative analysis, data/modelling, oversight; align governance with SS1/23.

Key Dates

2025

- Auditor reports reviewed by PRA (basis for this feedback)

30 September 2025

- PRA issues Dear CFO Letter with thematic feedback

2026

- Next round of written auditor reporting on firms' progress against areas of focus, including data aggregation and securitisation impacts; firms encouraged to self-assess now

Compliance Impact

Urgency: High – Persistent issues from prior years (e.g., 2024 feedback) indicate elevated model risk in uncertain conditions could lead to PRA scrutiny, auditor findings, or enforcement if unaddressed; 2026 auditor reports will benchmark progress, risking heightened supervision. Matters for prudential stability as ECL underpins capital requirements.

References

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Prudential / Capital Requirements ESG Reporting & Disclosure

Topics:

Bank

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC Speech

September 29th 2025

Working Together is Working Better, Remarks of Acting Chairman Caroline D. Pham, SEC-CFTC Joint Roundtable on Regulatory Harmonization Efforts

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankBroker DealerCrypto Exchange

🇱🇺 CSSF Guidance high

September 29th 2025

Circular CSSF-CODERES 25/21

Single Resolution Fund – Information request by the Single Resolution Board for the calculation of the 2026 contribution according to Articles 4 and 14 of Commission Delegated Regulation (EU) 2015/63

AI Analysis

Circular CSSF-CODERES 25/21, issued by the CSSF on 29 September 2025, mandates Luxembourg credit institutions to submit specific data via XBRL-formatted Data Reporting Forms (DRFs) to enable the Single Resolution Board (SRB) to calculate 2026 ex-ante contributions to the Single Resolution Fund (SRF) under Articles 4 and 14 of Commission Delegated Regulation (EU) 2015/63. This matters because non-compliance risks SRB using estimates, applying the highest risk multiplier, or penalties, ensuring the financial sector funds resolution costs without taxpayer burden.

What Changed

- Introduces data collection for 2026 SRF contributions, conditional on SRB verifying SRF funds fall below 1% of covered deposits in the Banking Union by early 2026.
Mandates XBRL submission of DRFs (except restatements up to 2022 in Excel); provides templates in Annexes 3a, 4, 5 (User Guide), and 7a/7b for additional assurances.
Additional assurance requirements (e.g., auditor reports or Agreed-Upon Procedures - AUP) apply conditionally to ECB-supervised institutions unless under lump-sum payment; restatements require AUP by...
References SRB's 2026 kick-off letter (Annex 1) and ECB-supervised list (Annex 6 as of 24 September 2025).

Suggested Considerations

Download and complete DRF using Annexes (e.g., Annex 3a PDF, Annex 5 User Guide v1.4); submit in XBRL format by deadline.
For ECB-supervised institutions: Provide additional assurances per Annex 7a/7b if SRB proceeds with collections; prepare restatement AUPs with auditor exceptions where applicable.
Align internal systems with CSSF templates early; validate data to avoid SRB assumptions under Article 17(1) DR.
Review Annex 1 (SRB kick-off letter), Annex 4 (2026 Guidance), and Annex 6 (ECB list).

Key Dates

AI Analysis

The PRA's CP21/25 proposes deletion of 37 banking regulatory reporting templates—primarily 34 FINREP templates representing approximately one-third of all FINREP collections—as the first phase of its Future Banking Data (FBD) programme. This initiative aims to reduce annual reporting burden by approximately £26 million while maintaining supervisory effectiveness by eliminating duplicative, outdated, or low-value data collections.

AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

September 19th 2025

The AMF warns the public about group chats providing tips on shares

Warning Savings protection Warning The AMF warns the public about group chats providing tips on shares

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Authorisation & Licensing

Asset ManagerWealth ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

September 18th 2025

A systemic risk perspective on operational resilience − speech by Liz Oakes

Given at the Cross Market Operational Resilience Group (CMORG) conference

Sectors:

Topics:

Operational Resilience / Outsourcing Prudential / Capital Requirements Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇬🇧 BoE Speech

September 18th 2025

Funded realignment: balancing innovation and risk − speech by Vicky White

Given at the 30th Annual Bank of America Financials CEO Conference

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News high

September 17th 2025

CFTC Obtains $1.2M for Fraud Victims, $2.8M Overall From Florida Commodity Firm, Owner

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Broker DealerCrypto ExchangeAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News

September 17th 2025

Supervisory Banking Statistics for significant institutions - Second quarter 2025

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News high

September 16th 2025

CFTC Obtains $6.9M Restitution Order Against Three Individuals, Three Florida Firms in Metals Fraud Case

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Broker DealerCrypto ExchangeAll Firms

Banking & Credit Wealth & Private Banking Mortgage & Lending

🇬🇧 PRA News low

September 11th 2025

Future Banking Data roundtable with members of UK Finance and the Building Societies Association

On 1 July, the PRA and the Bank of England held a roundtable meeting with representatives of non-systemic UK banks and building societies.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

September 9th 2025

Issue 5 2025

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

September 8th 2025

Withdrawal of KOREGRAF's authorisation as a crowdfunding service provider

Savings protection Withdrawal of KOREGRAF's authorisation as a crowdfunding service provider

Sectors:

Topics:

Authorisation & Licensing Consumer Protection / Conduct

Asset ManagerWealth ManagerFintech

🇨🇭 FINMA Speech medium

September 5th 2025

FINMA publishes guidance on the disclosure of cryptobased assets in the annual financial statements of banks and securities firms

The Swiss Financial Market Supervisory Authority FINMA is today publishing guidance on the disclosure of cryptobased assets in the annual financial statements of banks and securities firms. It is thereby addressing ambiguities that have arisen since the DLT Act entered into force. FINMA emphasises that the existing duties of disclosure must continue to be complied with and provides clarifications.

Sectors:

Reporting & Disclosure Prudential / Capital Requirements

Topics:

BankCrypto Exchange

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇺🇸 CFTC News low

September 4th 2025

Acting Chairman Pham Statement on Spring 2025 Unified Agenda

No description available.

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Technology & Cyber

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA News medium

September 4th 2025

FINMA publishes consolidated ordinance covering the insolvency proceedings at financial market institutions

The Swiss Financial Market Supervisory Authority FINMA is transferring the FINMA Banking Insolvency Ordinance, FINMA Insurance Bankruptcy Ordinance and FINMA Collective Investment Schemes Bankruptcy Ordinance to a new consolidated FINMA Insolvency Ordinance. The existing regulations have been revised and adapted where necessary – based on findings from practical experience and academia. In addition, the FINMA Insolvency Ordinance implements the amendments made necessary by the revisions to th...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇦🇪 DFSA News

September 3rd 2025

DFSA publishes FAQ on the annual AML Return and reminds Firms of 30 September…

03 SEP 2025, 03:20 PM DFSA publishes FAQ on the annual AML Return and reminds Firms of 30 September…

Sectors:

Topics:

BankAsset ManagerWealth Manager

Banking & Credit Payments & E-Money Crypto & Digital Assets

🇬🇧 BoE Speech

September 3rd 2025

Building trust and supporting innovation in the multi-moneyverse − speech by Sarah Breeden

Given at the Bank of England and Warwick Business School Innovation in Money and Payments Conference

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News

September 2nd 2025

Letter from Claudia Buch, Chair of the Supervisory Board, to Mr Markus Ferber, MEP, on banking supervision

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Senior Managers / Governance

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

August 29th 2025

Rates Finder– Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankWealth Manager

🇮🇪 CBI Warning high

August 29th 2025

Barclays Wealth (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

August 29th 2025

Magnum Options - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

August 29th 2025

LSFX Limited/ LightStocksFX- Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Broker DealerWealth ManagerFintech

🇨🇭 FINMA News medium

August 28th 2025

FINMA assesses the emergency and recovery plans for PostFinance, Raiffeisen and Zürcher Kantonalbank

The Swiss Financial Market Supervisory Authority FINMA has completed its annual assessment of the emergency and recovery plans for the domestic systemically important banks. The emergency plans for Zürcher Kantonalbank and Raiffeisen fulfil the regulatory requirements. The emergency plan for PostFinance is still not ready to implement. The recovery plans for all institutions were approved.

Sectors:

Prudential / Capital Requirements Operational Resilience / Outsourcing

Topics:

Bank

🇮🇪 CBI Warning high

August 27th 2025

Uniq Loan Financial - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Authorisation & Licensing Consumer Protection / Conduct

Topics:

FintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

August 27th 2025

BW Financial Services (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

August 26th 2025

Five ‘C’s for Central Bank Research − speech by Catherine L. Mann

Given at The Future of Central Banking conference on the occasion of the 100th Anniversary, Banco de México

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA News medium

August 26th 2025

Aktualisierte Sanktionsmeldung: ISIL (Da'esh) / Al-Kaida

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAll Firms

🇮🇪 CBI Warning high

August 25th 2025

Caventer Finance - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

FintechAll Firms

🇮🇪 CBI Warning high

August 25th 2025

Clearbnk (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Warning high

August 21st 2025

Northern Trust Fund Managers (Ireland) Ltd (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

BankWealth ManagerAsset Manager

🇮🇪 CBI Warning high

August 21st 2025

KPMG Ireland (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Topics:

BankWealth Manager

Banking & Credit Investment Management Payments & E-Money

🇨🇭 FINMA Enforcement critical

August 19th 2025

Aktualisierte Sanktionsmeldung: Islamischen Republik Iran

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 7 der Verordnung vom 11. November 2015 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.

AI Analysis

On August 18, 2025, the Swiss State Secretariat for Economic Affairs (WBF) published an updated sanctions notification regarding Iran, specifically modifying Annex 7 of the Ordinance on Measures against the Islamic Republic of Iran (SR 946.231.143.6). This update is critical for Swiss financial institutions and businesses because it reflects the evolving sanctions landscape following the automatic reinstatement of UN Security Council resolutions on Iran's nuclear program in September 2025.

What Changed

The August 2025 notification updated the list of designated persons, entities, and organizations subject to Swiss sanctions against Iran. While the search results do not provide the specific details of individual entries added or removed from Annex 7, this type of notification typically reflects changes to the UN Security Council's consolidated sanctions list that Switzerland is obligated to implement under its Embargo Act (EmbG). The broader context shows that Switzerland was preparing for significant sanctions escalation: on December 12, 2025, the Swiss Federal Council conducted a total...

Suggested Considerations

*Immediate compliance obligations:
*Sanctions List Screening: Update all sanctions screening systems and databases to reflect the August 2025 Annex 7 modifications and subsequent December 2025 total revision
*Transaction Review: Conduct comprehensive review of existing Iranian counterparties, customers, and beneficiaries against updated FINMA-published lists
*Account Monitoring: Identify and freeze accounts or assets belonging to designated persons and entities; report frozen assets to authorities
*Reporting: File mandatory notifications with FINMA and relevant authorities regarding any identified matches or transactions with sanctioned parties

Key Dates

August 18, 2025

- WBF published updated sanctions notification for Iran (Annex 7 modifications)

August 28, 2025

- Germany, France, and UK triggered UN snapback mechanism

September 15, 2025

- Harmonization of sanctions ordinances entered into force (affecting financial sanctions procedures across multiple jurisdictions including Iran)

September 27, 2025

- UN nuclear-related sanctions against Iran automatically reinstated

September 28, 2025

- EU reactivated suspended sanctions related to Iran's proliferation activities

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerPayment Provider

Banking & Credit Wealth & Private Banking Payments & E-Money

🇨🇭 FINMA Enforcement high

August 19th 2025

Aktualisierte Sanktionsmeldung: Lybien

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 30. März 2011 über Massnahmen gegenüber Libyen (SR 946.231.149.82) publiziert.

AI Analysis

This FINMA publication announces an update by Switzerland's State Secretariat for Economic Affairs (SECO) to the sanctions list under the Ordinance of 30 March 2011 on Measures against Libya (SR 946.231.149.82), aligning Swiss sanctions with changes in the UN Libya sanctions regime. It matters for Swiss financial institutions as it triggers immediate screening and compliance obligations to avoid violations of asset freeze and related restrictions on designated persons, entities, or organizations. Failure to act promptly risks enforcement by FINMA.

What Changed

The core change is an amendment to the list of sanctioned natural persons, companies, and organizations in SR 946.231.149.82, as published by SECO. This reflects broader UN Security Council updates via Resolution 2769 (2025), which introduced new designation criteria for individuals/entities supporting armed groups or criminal networks through illicit exploitation/export of crude oil or refined petroleum from Libya, alongside exemptions for certain arms embargo activities, allowances for Libyan Investment Authority (LIA) frozen cash investments in low-risk deposits, and extensions of related...

Suggested Considerations

Screen immediately: Run full client, transaction, and asset portfolios against the updated SECO list (SR 946.231.149.82) for matches on newly added/removed designations.
Freeze assets: Identify and freeze any funds/economic resources of designated parties without delay; report to SECO/FINMA.
Cease dealings: Halt direct/indirect provision of funds, financial services, or trade facilitation to/from listed parties.
Update systems: Refresh sanctions screening tools, policies, and training; document compliance evidence.
Monitor related flows: Heighten scrutiny on Libyan petroleum trade, LIA assets, and arms-related exemptions per UN Resolution 2769.

Key Dates

Immediate upon publication (19 August 2025) DEADLINE

- Swiss firms must implement updated sanctions list screening and freeze applicable assets/transactions per FINMA/SECO requirements (https://www.finma.ch/en/news/2025/08/20250819-sr-946-231-149-82/)

1 May 2026

- Expiration of UN authorizations/measures on illicit petroleum exports from Libya (Resolution 2769)

15 May 2026

- End of UN Panel of Experts mandate monitoring Libya sanctions

Compliance Impact

Urgency: High - Immediate action required due to asset freeze obligations; non-compliance risks FINMA fines, reputational damage, or criminal liability under Swiss AML/sanctions laws. This matters amid evolving geopolitical risks (e.g., petroleum smuggling destabilizing Libya), as flagged in FINMA's 2025 Risk Monitor on sanctions evasion via financial flows (https://www.swlegal.com/en/insights/newsletter-detail/finma-risk-monitor-2025-finma-flags-nine-principal/). Firms with Libyan exposure face elevated audit scrutiny.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

August 19th 2025

Aktualisierte Sanktionsmeldung: Südsudan

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs 2 der Verordnung vom 12. August 2015 über Massnahmen gegenüber der Republik Südsudan (SR 946.231.169.9) publiziert.

AI Analysis

FINMA has published an update notifying financial intermediaries of changes to Annex 2 of the Ordinance on Measures against the Republic of South Sudan (SR 946.231.169.9), as announced by SECO on August 18, 2025, effective August 20, 2025. This matters because it imposes immediate asset freeze and transaction ban obligations on Swiss financial institutions with exposure to newly or modified sanctioned entities, aligning with UN Security Council Resolution 2206 (2015) and EU measures to address South Sudan's ethnic conflict, human rights violations, and humanitarian crisis. Compliance failure risks enforcement actions under the Embargo Act (EmbG) and AML regulations (GwG).

What Changed

- SECO amended Annex 2 of the Ordinance, likely adding, removing, or modifying listings of sanctioned persons, companies, or organizations related to South Sudan.
The update requires implementation of prohibitions (e.g., no new business), asset freezing for listed parties, and reporting of affected relationships to SECO.
Changes stem from ongoing enforcement of UN and EU sanctions, with Switzerland implementing via the Embargo Act; Annexes are dynamically updated.

Suggested Considerations

Screen client portfolios, transactions, and relationships against the updated SESAM database and Annex 2 via FINMA's website or MyFINMA portal.
Freeze assets of newly listed parties without delay; block prohibited transactions.
Report affected business relationships to SECO promptly; conduct additional GwG Art. 6 due diligence if suspicions arise, and file SARs with the Money Laundering Reporting Office (MROS) under Art. 9 GwG if unresolved.
Update internal sanctions screening systems and train staff; document compliance for audit trails.

Key Dates

18.08.2025

- SECO publishes amendment to Annex 2

19.08.2025

- FINMA issues public notification of the update

20.08.2025

- Amendment enters into force; asset freezes and prohibitions apply immediately

Compliance Impact

Urgency: High - Immediate effect from August 20, 2025, mandates asset freezes and reporting with no grace period, exposing non-compliant firms to FINMA enforcement, fines, or reputational damage under EmbG and GwG. South Sudan sanctions are niche but cumulative updates (e.g., similar to Sudan changes) heighten screening fatigue risks; firms with Africa desks must prioritize to avoid inadvertent violations amid dynamic listings.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

August 19th 2025

Aktualisierte Sanktionsmeldung: Sudan

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has amended Annex 2 of the Ordinance of May 25, 2005, on Measures against Sudan (SR 946.231.18), updating Switzerland's sanctions list in alignment with the SESAM database managed by SECO. This change, effective immediately on a urgent basis, requires Swiss financial intermediaries to implement updated asset freezes and transaction restrictions without delay, heightening compliance risks amid ongoing international sanctions escalation on Sudan-related actors. It matters because non-compliance exposes firms to FINMA enforcement, reputational damage, and penalties under anti-money laundering and sanctions regimes.

What Changed

- Amendment to Annex 2 of SR 946.231.18, which lists designated persons, entities, and assets subject to sanctions such as asset freezes and prohibitions on making funds or economic resources...
Updates reflected in the official Swiss sanctions database SESAM (SECO Sanctions Management), published on the SECO website, ensuring harmonized implementation across Switzerland.
Urgent (dringliche) amendment entering into force immediately, bypassing standard consultation periods to address time-sensitive developments in the Sudan conflict. Specific details of added/removed...

Suggested Considerations

Screen against updated SESAM database: Immediately query SECO's Sanctions Management system and Annex 2 for new/updated designations; freeze any matching assets and report to SECO/FINMA as required.
Transaction screening and blocking: Halt any funds transfers, services, or economic resources to/from designated parties; document due diligence.
Internal compliance update: Review client portfolios, KYC files, and transaction monitoring systems for Sudan exposure; train staff and update policies.
Reporting obligations: Notify FINMA/SECO of any frozen assets or potential breaches within regulatory timelines (typically 30 days for suspicious activity under AMLA).
Audit and evidence retention: Maintain records of screening/compliance actions for FINMA inspections.

Compliance Impact

Urgency: High – The urgent effective date mandates immediate action to avoid violations, with FINMA's enforcement history showing fines up to CHF 500,000+ for sanctions breaches. This matters amid Sudan's escalating conflict, where global sanctions (e.g., EU/UK additions in 2025) increase circumvention risks via Swiss hubs, amplifying AML/Financial Crime exposure and FINMA scrutiny in its 2025 Risk Monitor on geopolitical flows.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerAll Firms

Banking & Credit Payments & E-Money Investment Management

🇱🇺 CSSF Enforcement high

August 18th 2025

Circular CSSF 25/896

Adoption of the EBA Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures (sanctions)

AI Analysis

Circular CSSF 25/896 adopts the EBA Guidelines EBA/GL/2024/14 and EBA/GL/2024/15, mandating Luxembourg financial institutions to establish robust internal policies, procedures, and controls for complying with EU and national restrictive measures (sanctions). This matters because it sets binding EU-wide standards to prevent sanctions violations and circumvention, with absolute obligations for immediate asset freezing and reporting, amid escalating geopolitical tensions.

What Changed

- Institutions must develop, implement, and maintain up-to-date policies, procedures, and controls for identifying, investigating, and applying restrictive measures without delay, including risk...
Management body responsibilities expanded: approve sanctions compliance strategy, oversee implementation, conduct at least annual assessments of exposure and controls, ensure remedial actions, and...
Screening and monitoring requirements: Maintain updated sanctions lists with immediate integration of changes; screen customer base, transactions, and datasets accurately; enable immediate...
Training and testing: Deliver regular, documented role-specific training; perform ongoing system testing for screening calibration, list accuracy, transaction monitoring effectiveness, and reporting.
Proportionality applies based on institution's size, activities, and exposure; PSPs and CASPs explicitly addressed with tailored controls.

Suggested Considerations

Conduct annual exposure assessments to sanctions risks and circumvention; update policies accordingly.
Appoint senior management/board-level responsibility for approving and overseeing sanctions strategy, including annual reviews and deficiency reporting.
Implement reliable screening systems for customers, transactions, and lists; define screenable datasets; test systems regularly for effectiveness (e.g., immediate freezing, accurate hits).
Provide documented training to relevant staff on sanctions, institutional exposure, and internal processes.
Establish processes for immediate action on matches: suspend transfers, freeze assets, report to Ministry of Finance/CSSF/FIU without delay; maintain whitelists only under strict conditions.

🇨🇭 FINMA Enforcement critical

August 13th 2025

Aktualisierte Sanktionsmeldung: Republik Irak

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.

AI Analysis

The Swiss State Secretariat for Economic Affairs (SECO) published an updated sanctions notification on August 13, 2025, reflecting modifications to the UN sanctions list targeting Iraq under the Ordinance of August 7, 1990 (SR 946.206). This update is automatically applicable in Switzerland and requires immediate compliance by all financial institutions and regulated entities, as Switzerland implements UN Security Council sanctions lists without delay through its automatic application framework.

What Changed

The UN Sanctions Committee modified the list of sanctioned individuals, companies, and organizations subject to Iraq-related sanctions on August 5, 2025. The specific modifications to the sanctions list were incorporated into Switzerland's SESAM database (SECO Sanctions Management), which serves as the authoritative sanctions reference for Swiss compliance purposes. Under Switzerland's automatic application ordinance adopted by the Federal Council on March 4, 2016, amendments to UN Security Council sanctions lists enter into force in Switzerland without delay.

Suggested Considerations

*Update screening systems immediately - Integrate the August 5, 2025 modifications into transaction monitoring and customer due diligence systems
*Review existing customer relationships - Screen all current customers, counterparties, and beneficial owners against the updated SESAM database
*Audit transaction history - Identify any transactions processed between August 5-13, 2025 that may have involved newly sanctioned parties
*Document compliance procedures - Maintain records demonstrating implementation of updated sanctions screening
*Train compliance staff - Ensure all relevant personnel understand the updated sanctions list and screening requirements

Key Dates

August 5, 2025

- UN Sanctions Committee decision modifying the Iraq sanctions list

August 13, 2025

- SECO published the updated sanctions notification and SESAM database modifications

Immediate

- Effective date in Switzerland (automatic application upon UN modification)

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

AML / Financial Crime Reporting & Disclosure Operational Resilience / Outsourcing

BankPayment ProviderAll Firms

Banking & Credit Investment Management Payments & E-Money

🇨🇭 FINMA Enforcement high

August 13th 2025

Aktualisierte Sanktionsmeldung: Belarus

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 5, 13, 14 und 15 der Verordnung über Massnahmen gegenüber Belarus (SR 946.231.116.9) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published updates to Annexes 5, 13, 14, and 15 of the Ordinance on Measures against Belarus (SR 946.231.116.9), aligning Switzerland with additional EU sanctions imposed on July 18, 2025, in response to Belarus's involvement in Russia's war against Ukraine. This matters for Swiss financial institutions as it expands asset freezes, reporting obligations, and prohibitions, strengthening sanctions parity with Russia to prevent circumvention and enhance enforcement effectiveness.

What Changed

The updates amend Annexes 5, 13, 14, and 15 of SR 946.231.116.9, incorporating EU measures beyond the 18th Russia sanctions package, focusing on goods, financial, and energy sectors. Specific enhancements include expanded lists of sanctioned goods for military/technological strengthening (Annex 3 updated 29.10.2025), high-priority goods (Annex 11a), and industrial strengthening goods (Annex 19).

Suggested Considerations

Screen clients, assets, and transactions against updated Annexes 5, 13-15, and related lists (e.g., Annexes 3, 11a, 19) for freezes and prohibitions; block and report frozen assets/business relationships to SECO immediately.
Conduct GwG Art. 6 due diligence on suspicions; if unresolved, file AML reports under Art. 9 GwG (SECO reporting does not exempt this).
Cease prohibited activities: no loans, insurance, deposits >CHF 100k from Belarusians, specialized messaging for payments, or dealings with National Bank of Belarus.
Update internal screening tools, policies, and training; monitor SECO/FINMA websites for ongoing Anhänge updates.
For trade/energy firms: Halt exports/imports of listed goods (e.g., oil, potash, machinery) and verify third-country counterparties.

Key Dates

15 September 2025

- Harmonization of financial sanctions across multiple regimes (including Belarus) enters into force, clarifying fund crediting on blocked accounts and reporting

30 October 2025

- New provisions from Bundesrat decision on 29 October 2025 enter into force, requiring immediate implementation of updated Belarus measures

12 December 2025

- Publication of list expansions by WBF/SECO

13 December 2025

- Expansions to sanctions lists for Russia/Belarus (including 22 persons, 42 entities, 116 ships, 45 trade firms, 5 banks) take effect

Compliance Impact

Urgency: High - Immediate effect from 30 October 2025 demands swift asset screening and reporting to avoid GwG/EmbG violations, with heightened FINMA scrutiny amid Russia-Belarus alignment and recent list expansions (e.g., December 2025). Non-compliance risks enforcement, reputational damage, and sanctions evasion facilitation penalties, especially as circumvention via third countries rises.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerPayment Provider

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

August 13th 2025

Aktualisierte Sanktionsmeldung: Moldau

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 28. Juni 2023 über Massnahmen betreffend Moldau (SR 946.231.156.5) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published an update to Annex of the Ordinance on Measures concerning Moldova (SR 946.231.156.5) on August 11, 2025, expanding the sanctions list for Moldova-related destabilizing activities. This matters for Swiss financial intermediaries as it imposes immediate asset freeze and reporting obligations under the Embargo Act (EmbG) and Anti-Money Laundering Act (GwG), aligning Switzerland with EU measures to counter threats to Moldova's sovereignty amid regional instability.

What Changed

- Updated Sanctions List: The WBF amended the Annex to include additional natural or legal persons, organizations, or entities subject to financial sanctions, effective immediately upon publication.
Financial Sanctions Reinforced: Mandatory asset freezes (sperre von Vermögenswerten), prohibitions on making funds or economic resources available (Bereitstellungsverbote), and reporting requirements...
No Change to Core Ordinance: The underlying Ordinance from June 28, 2023, is unchanged, but the Annex expansion triggers re-screening of existing relationships.

Suggested Considerations

Screen Client Base: Immediately rescreen all existing and prospective clients, relationships, and transactions against the updated SECO/FINMA Moldova sanctions list via MyFINMA portal.
Freeze and Report Assets: Block all funds/economic resources of newly listed parties without delay; report details (e.g., account info, asset values) to SECO promptly.
AML Due Diligence: Conduct enhanced checks under Art. 6 GwG; if suspicions persist post-SECO report, file suspicious activity report (SAR) with MROS under Art. 9 GwG.
Internal Controls: Update screening tools, train staff, and document compliance to mitigate enforcement risk from FINMA.
Monitor Ongoing: Subscribe to FINMA MyFINMA alerts and SECO updates for further Annex changes.

Key Dates

28.06.2023

Original Ordinance effective date; (context for baseline measures)

11.08.2025

Publication of Annex update by WBF

12.08.2025

Measures enter into force; (based on similar recent updates; immediate effect standard)

Immediate (unverzüglich)

Report frozen assets to SECO

Compliance Impact

Urgency: High – Immediate asset blocking and SECO reporting are mandatory with no grace period, risking FINMA enforcement (e.g., fines, reputational damage) for non-compliance; matters due to expanding geopolitical risks in Eastern Europe, potential for rapid list growth, and overlap with high-volume Russia/Ukraine sanctions regimes.

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankAsset ManagerAll Firms

🇨🇭 FINMA Enforcement high

August 13th 2025

Aktualisierte Sanktionsmeldung: Russland

Das Departement für Wirtschaft, Bildung und Forschung (WBF) hat die Erweiterung der Sanktionslisten betreffend Russland publiziert. Die Schweiz hat damit diverse Änderungen übernommen, welche die EU im Rahmen ihres 18. Sanktionspakets beschlossen hatte.

AI Analysis

This FINMA publication announces Switzerland's adoption of the EU's 18th sanctions package against Russia, expanding the sanctions lists with new designations and restrictions via the Swiss State Secretariat for Economic Affairs (SECO/WBF). It matters because Swiss financial institutions must immediately screen and freeze assets of newly listed parties, aligning with heightened FINMA enforcement on Russia sanctions risks amid ongoing geopolitical tensions. Compliance teams face elevated legal, reputational, and secondary sanctions exposure from US/EU measures.

What Changed

The core update involves Switzerland incorporating EU Council decisions from the 18th sanctions package, which typically include:
Additions to asset freeze lists targeting Russian individuals, entities, and sectors like energy, finance, and dual-use goods.
Expanded prohibitions on making funds or economic resources available to designated parties.
Alignment with EU sectoral restrictions on Russia's financial messaging services (e.g., SPFS), oil trade, and shadow fleet activities, now binding in Switzerland via ordinances updated by WBF/SECO.

Suggested Considerations

Enhance customer due diligence (CDD): Review existing Russia/Ukraine portfolios for matches; implement enhanced monitoring for shadow fleet, oil traders, and FIMI-linked entities.
Report to FINMA/SECO: Notify of any frozen assets or potential breaches; document compliance efforts to mitigate enforcement risks.
Update policies: Integrate EU 18th package into internal sanctions frameworks, including red flags for circumvention (e.g., crypto, third-country banks).
Train staff: Conduct urgent refreshers on secondary sanctions risks per FINMA Risk Monitor 2025.

Key Dates

Consumer Protection / Conduct Authorisation & Licensing AML / Financial Crime

Topics:

BankFintech

Banking & Credit Investment Management Wealth & Private Banking

🇪🇺 ECB News low

August 1st 2025

Spreadsheet: High-level individual results for banks not included in the EBA sample

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇪🇺 ECB News medium

August 1st 2025

Counterparty credit risk exploratory scenario exercise

No description available.

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankAsset ManagerBroker Dealer

Banking & Credit Wealth & Private Banking Investment Management

🇨🇭 FINMA Enforcement critical

July 31st 2025

Verordnung vom 7. März 2025 über die Sperrung von Vermögenswerten im Zusammenhang mit Syrien (Anpassung des Anhangs)

No description available.

AI Analysis

On July 31, 2025, Switzerland's State Secretariat for Economic Affairs (SECO) amended the annex to the Syria Asset Freezing Ordinance (SR 196.127.27), originally enacted March 7, 2025, to update the list of designated individuals subject to comprehensive asset freezes. This amendment reflects Switzerland's ongoing implementation of targeted financial sanctions against politically exposed persons connected to the former Assad regime, requiring immediate compliance from all financial intermediaries and asset holders operating in Swiss jurisdiction.

What Changed

The July 31, 2025 amendment modified the annex (list of designated persons) to the Syria Asset Freezing Ordinance without altering the substantive freezing requirements themselves. The original ordinance, enacted March 7, 2025, froze all assets of 17 designated individuals; the July amendment adjusted this list, though the specific names added or removed are not detailed in the available regulatory notices. The amendment operates under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA; SR 196.1), which provides the legal...

Suggested Considerations

*Immediate compliance steps for financial institutions:
*Update sanctions screening systems to reflect the amended annex list as of July 31, 2025
*Freeze all assets of newly designated individuals without delay, including bank accounts, securities, real estate, and other property of any kind
*File mandatory reports with the Money Laundering Reporting Office (MROS) for all frozen assets under Article 3 of the FIAA
*Conduct enhanced due diligence on existing client relationships to identify any connections to designated persons or their family members, associates, or controlled entities

Key Dates

March 7, 2025, 6:00 PM UTC

– Original Syria Asset Freezing Ordinance entered into force

July 31, 2025, 6:00 PM UTC

– Amendment to annex (list of designated persons) entered into force

Ongoing

– Immediate freezing obligation upon designation; no grace period applies

Four

year validity; – The ordinance remains valid for four years from March 7, 2025, unless extended or modified

Compliance Impact

Urgency: CRITICAL

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

Sectors:

Topics:

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News

July 30th 2025

Press release regarding BGL BNP Paribas

Press release 25/13

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

Bank

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

July 29th 2025

The AMF and the ACPR warn the public against the activities of several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

BankFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News low

July 28th 2025

Isabelle Guezet and Julien Laroche appointed Deputy Directors of the Corporate Finance Division

Appointment Institutional Isabelle Guezet and Julien Laroche appointed Deputy Directors of the Corporate Finance Division

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance

BankAsset ManagerBroker Dealer

Banking & Credit Capital Markets & Trading Investment Management

🇫🇷 AMF Enforcement high

July 22nd 2025

The AMF Enforcement Committee fines a Danish investment bank for breaches of professional obligations committed by a French branch

Sanctions & settlements professional obligations Disclosure Obligations Other professionals Journalists The AMF Enforcement Committee fines a Danish investment bank for breaches of professional obligations committed by a French branch

AI Analysis

The AMF Enforcement Committee imposed a €300,000 fine on Saxo Bank A/S on 16 July 2025 for multiple breaches of professional obligations committed through its French branch, including failures to properly inform clients about significant changes to derivatives procedures, margin calculations, and securities transaction incidents, as well as deficiencies in equity savings plan (PEA) transfers. This enforcement action demonstrates the AMF's active oversight of cross-border investment banks operating in France and highlights critical gaps in client disclosure practices that compliance teams must address.

What Changed

The enforcement decision does not introduce new regulatory requirements but rather clarifies existing obligations under current French financial regulations.
Client notification requirements for significant procedural changes affecting derivatives trading and margin calculations
Incident disclosure obligations for securities transactions that could materially affect order execution
Timely information provision regarding regulatory consequences of the UK's withdrawal from the European Union as they affect PEA accounts
Operational procedures for managing equity savings plan transfers with proper documentation and client communication

Suggested Considerations

*Audit client notification procedures for derivatives trading changes, particularly regarding position closure procedures and margin calculation methodologies, ensuring clients receive advance notice of material changes
*Implement incident reporting protocols for securities transactions that could affect order execution, with documented evidence of timely client notification
*Review PEA transfer procedures to ensure compliance with regulatory timeframes and proper documentation of information provided to clients regarding Brexit-related consequences
*Strengthen information governance to ensure all material operational changes are communicated to clients within required timeframes and with appropriate detail
*Conduct compliance training for front-office and operations staff on professional obligations regarding client communication and information disclosure

Key Dates

16 July 2025

- AMF Enforcement Committee decision issued imposing €300,000 fine

22 July 2025

- Official publication of enforcement decision

No specified deadline DEADLINE

- Appeal period available (no specific timeframe stated in the decision)

Compliance Impact

Urgency: HIGH

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure

Broker DealerBank

🇺🇸 FINRA regulatory_notice medium

July 18th 2025

Thomas Hirschi has decided to leave the Swiss Financial Market Supervisory Authority FINMA effective 31 August 2025. The Head of the Banks division will pursue a new career outside FINMA. FINMA’s Board of Directors and Executive Board thank Thomas Hirschi for his valuable contribution during his time at FINMA.

Effective Date: 31 August 2025

Sectors:

Authorisation & Licensing Senior Managers / Governance

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

July 10th 2025

Weathering the storm: stability in a changing climate - speech by Sarah Breeden

Based on remarks given at the Chapman-Barrigan lecture

Sectors:

Topics:

Prudential / Capital Requirements ESG Operational Resilience / Outsourcing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇨🇭 FINMA Enforcement high

July 9th 2025

Aktualisierte Sanktionsmeldung: Haiti

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has published an update to Annex 2 of the Ordinance on Measures concerning Haiti (SR 946.231.139.4), dated December 16, 2022, aligning Switzerland's sanctions regime with recent UN Security Council decisions. This matters for Swiss financial institutions as it mandates immediate screening against potentially updated lists of designated persons and entities, reinforcing asset freezes, travel bans, and an expanded arms embargo to address Haiti's instability. Non-compliance risks FINMA enforcement actions under anti-money laundering and sanctions frameworks.

What Changed

- Annex Update: The amendment modifies the annex to the Haiti Ordinance, likely incorporating additions to the UN Sanctions List, such as new designated individuals or entities involved in...
Sanctions Renewal and Expansion: Reflects UNSC Resolution 2752 (2024, adopted October 18, 2024) and subsequent renewals (e.g., Resolution 2794 (2025)), renewing travel bans, asset freezes, and arms...
Swiss Implementation: FINMA oversees enforcement via SECO's sanction ordinances; updates require alignment with UN lists for asset freezing and prohibitions on dealings with designated parties.

Suggested Considerations

Screen Immediately: Check client databases, accounts, and transactions against the updated SECO/UN Haiti Sanctions List for new designations; freeze assets/economic resources without prior notice.
Cease Prohibited Activities: Halt dealings (direct/indirect) with designated parties, including financial services, brokering, technical assistance, or transfers related to military goods/technology.
Report Findings: Notify SECO/FINMA of matches or frozen assets, providing additional compliance details; maintain records for audits.
Update Policies/Systems: Revise sanctions screening tools, train staff, and monitor for "connected persons" under updated definitions.
License Checks: Apply for exemptions only if explicitly available (e.g., humanitarian); no dealings without approval.

Key Dates

October 17/20, 2025

UNSC Committee adds 2 entries to Sanctions List; Triggers immediate asset freeze checks; Swiss update (SR 946.231.139.4) published in response

October 18, 2024

On 3 July 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultations on the new Ordinances on the Risk Diversification of Banks and Securities Firms and on the Liquidity of Banks and Securities Firms. The consultations will go on until 29 September 2025.

Deadline: 29 September 2025

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Reporting & Disclosure

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

July 2nd 2025

Unexpected curves − remarks by Alan Taylor

Given at the ECB Forum on Central Banking in Sintra, Portugal

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

July 2nd 2025

Building tomorrow’s markets: the digitalisation of finance − speech by Sasha Mills

Given at City Week 2025

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Consumer Protection / Conduct

BankFintechAsset Manager

Banking & Credit Capital Markets & Trading Payments & E-Money

🇬🇧 BoE Speech

July 1st 2025

Synchronisation and beyond: enabling the next wave of financial innovation − speech by Victoria Cleland

Given at the 15th annual edition of City Week

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Operational Resilience / Outsourcing

BankFintechPayment Provider

🇦🇪 DFSA News

June 30th 2025

New DFSA report explores regulatory insights into cybersecurity, Artificial…

30 JUN 2025, 03:18 PM New DFSA report explores regulatory insights into cybersecurity, Artificial…

Sectors:

Technology & Cyber Operational Resilience / Outsourcing Prudential / Capital Requirements

Topics:

BankFintechAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

June 26th 2025

The UK economy in an unpredictable world – speech by Andrew Bailey

Given at British Chamber of Commerce 2025 Global Annual Conference

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing ESG

BankAsset ManagerWealth Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 BoE Speech

June 26th 2025

From trading floors to policy calls: the value and evolution of our interactions with financial markets − speech by Andrea Rosen

Given at the Centre for Central Banking Studies 'Transforming monetary policy’ conference

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Reporting & Disclosure

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News low

June 26th 2025

Profit and loss account of credit institutions as at 31 March 2025

Press release 25/10

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇨🇭 FINMA Enforcement high

June 26th 2025

Aktualisierte Sanktionsmeldung: Guatemala

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen betreffend Guatemala (SR 946.231.137.6) publiziert.

AI Analysis

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has published an update to Annex 2 of the Ordinance on Measures concerning Guatemala (SR 946.231.137.6), aligning Swiss sanctions with international developments targeting threats to democracy and rule of law in Guatemala. This matters for Swiss financial institutions as it mandates immediate screening and blocking of newly designated persons/entities to prevent sanctions violations, reinforcing Switzerland's commitment to international sanctions regimes amid ongoing geopolitical tensions in Central America. https://www.finma.ch/en/news/2025/06/20250626-sr-946-231-137-6/

What Changed

- Amendment to Annex 2 of SR 946.231.137.6, likely adding or updating designations of individuals, groups, or entities involved in undermining Guatemala's democracy, rule of law, or election...
Measures include asset freezes (prohibiting Swiss persons from dealing with designated assets) and transaction prohibitions, with independent freezing by FINMA where required under Swiss law.
Updates are published in the Federal Gazette and integrated into FINMA's continuously maintained sanctions lists for automated screening.

Suggested Considerations

Immediate screening: Run updated Annex 2 against client databases, transactions, and assets; block and report any matches to FINMA via SR system.
Enhanced due diligence: Review Guatemala exposures for links to designated parties (e.g., Public Prosecutor’s Office officials, FCT); suspend dealings and notify self-certification.
System updates: Ensure sanctions screening tools (e.g., World-Check, Refinitiv) reflect changes; train staff and document compliance.
Reporting: File suspicious activity reports (SARs) to MROS if pre-existing dealings detected; retain evidence of non-execution of prohibited transactions. https://www.finma.ch/en/news/2025/06/20250626-sr-946-231-137-6/

Key Dates

Topics:

AML / Financial Crime Prudential / Capital Requirements Reporting & Disclosure

BankWealth ManagerAll Firms

Banking & Credit Investment Management Insurance & Pensions

🇫🇷 AMF News

June 18th 2025

The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2024 Annual Report

Annual report Savings protection Marketing Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2024 Annual Report

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

June 18th 2025

Innovation and regulation - striking the balance - speech by David Bailey

Given at Risk Live Europe

Sectors:

Topics:

Prudential / Capital Requirements Technology & Cyber Authorisation & Licensing

BankFintechAsset Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇬🇧 BoE Speech

June 17th 2025

Financial stability in light of new global challenges: global shocks, interconnections and central counterparties − speech by Randy Kroszner

Given at FIA International Derivative Expo

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankBroker DealerCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News

June 12th 2025

The stock market investor journey: the AMF analyses the mobile applications of 14 institutions

Marketing Long term investment Other professionals Retail investors Journalists The stock market investor journey: the AMF analyses the mobile applications of 14 institutions

Sectors:

Topics:

Consumer Protection / Conduct Technology & Cyber Reporting & Disclosure

Asset ManagerBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇬🇧 BoE Speech

June 11th 2025

Learning by doing − speech by Victoria Saporta

Given at Bank of Finland & SUERF Conference, Helsinki

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇱🇺 CSSF News medium

May 16th 2025

Second thematic review on the use of Artificial Intelligence in the Luxembourg financial sector

Press release 25/08

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Crypto & Digital Assets

🇺🇸 FINRA regulatory_notice medium

May 15th 2025

Anti-money Laundering Asset management AMF invites financial market participants to take part in the EBA consultation on draft AML/CFT implementing standards

AI Analysis

The AMF is urging French financial market participants to engage in the EBA's consultation launched on March 6, 2025, on draft Regulatory Technical Standards (RTS) for AML/CFT implementing standards under AMLD6 and AMLR, focusing on harmonized risk assessment methodologies for supervisors and obliged entities. This matters because it signals a shift to uniform EU-wide AML/CFT supervision via AMLA (post-EBA handover on January 1, 2026), requiring firms to adapt to standardized risk indicators, data reporting, and enforcement, with new CDD rules applying from July 2027. Participation ensures firms influence final standards amid the transition to a single EU AML rulebook.

What Changed

The draft RTS propose harmonized methodologies for AML/CFT supervision, including:
Risk Assessment of Obliged Entities (Article 40(2) AMLD6): A three-step process with indicators for inherent risk (customers, products/services, geography, distribution channels), control...
Risk Assessment for Direct Supervision (Article 12(7) AMLAR): Two-stage selection for AMLA direct oversight of high-risk cross-border firms (operating in ≥6 Member States, meeting...
CDD Updates: Risk-based approach for new customers from July 2027; five-year transition for existing customers, prioritizing high-risk.
Pecuniary Sanctions RTS (Article 53(10) AMLD6): Structured classification of breaches, proportionate sanctions, and enforcement for serious/repeated/systematic infringements to ensure uniformity...

Suggested Considerations

Participate in EBA consultation: Submit feedback on draft RTS via EBA channels, focusing on risk indicators, data frequency, and feasibility; AMF encourages French firms to act promptly.
Conduct compliance gap analysis: Review current AML frameworks against proposed indicators (inherent risk, controls, residual risk); prioritize high-risk customers/products.
Enhance systems: Invest in regtech for automated risk scoring, transaction monitoring, and data reporting to supervisors; update governance, policies, and CDD processes.
Prepare for AMLA supervision: For cross-border firms, model group-wide risk profiles; develop remediation plans for breaches.
Ongoing monitoring: Implement annual risk reviews and ad-hoc reassessments for business changes.

Key Dates

March 6, 2025

EBA consultation launch; on draft RTS for AML/CFT standards (ongoing as of analysis)

January 1, 2026

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

January 13th 2025

The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform

Warning Savings protection Warning Forex and binary options The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

December 26th 2024

The authorities are taking action to combat the massive phenomenon of financial scams catching out an increasing number of individuals

Savings protection Financial Scams Crypto-assets Retail investors Journalists The authorities are taking action to combat the massive phenomenon of financial scams catching out an increasing number of individuals

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

December 20th 2024

EMIR Refit: Update of the AMF website on notifications forms

Derivatives or structured products EMIR Refit: Update of the AMF website on notifications forms

Sectors:

Topics:

Asset ManagerBroker DealerBank

🇫🇷 AMF News medium

December 19th 2024

Combating money laundering and terrorist financing: the AMF applies the guidelines issued by the European Banking Authority regarding certain transfers of crypto-assets

Asset management Anti-money Laundering Crypto-assets Combating money laundering and terrorist financing: the AMF applies the guidelines issued by the European Banking Authority regarding certain transfers of crypto-assets

Sectors:

AML / Financial Crime Authorisation & Licensing

Topics:

Asset ManagerBankCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

December 18th 2024

Closing of the 2024 accounts: The AMF publishes recommendations and the results of its examinations of financial statements

Financial disclosures & corporate financing Periodic & ongoing disclosures Reporting ESEF Closing of the 2024 accounts: The AMF publishes recommendations and the results of its examinations of financial statements

Sectors:

Topics:

Reporting & Disclosure ESG Prudential / Capital Requirements

Asset ManagerBankBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech medium

December 13th 2024

ECB Interest Rates

At our meeting yesterday, the ECB’s Governing Council cut our three policy rates by 25 basis points (or, one quarter of a percent). The disinflation process remains on track, allowing us to reduce rates. However, with some components of inflation still too high for comfort – notably, services inflation – I continue to favour a gradual reduction in rates over large moves. As policy rates fall, we should see a reduction in the costs of borrowing for households and firms. We are already seeing s...

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

December 13th 2024

Issue 13 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

December 10th 2024

Faced with dense and complex information, the AMF is encouraging financial institutions to continue their efforts to improve the transparency of their Taxonomy reporting

Sustainable Finance Periodic & ongoing disclosures Journalists Listed companies and issuers Faced with dense and complex information, the AMF is encouraging financial institutions to continue their efforts to improve the transparency of their Taxonomy reporting

Sectors:

Topics:

Asset ManagerBankWealth Manager

🇫🇷 AMF News medium

December 4th 2024

The Listing Act is entering into force on December 4, 2024

Financial disclosures & corporate financing Periodic & ongoing disclosures Regulatory developments The Listing Act is entering into force on December 4, 2024

Sectors:

Topics:

BankBroker DealerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

November 29th 2024

Issue 12 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI Speech medium

November 25th 2024

The tangle of ageing populations and productivity growth - Governor Gabriel Makhlouf at Society of Professional Economists

Governor of the Central Bank of Ireland Gabriel Makhlouf today (25 November) addressed the UK Society of Professional Economists annual dinner . Speaking this evening, Governor Makhlouf said: “Europe is at a pivotal moment in its economic development. The tangle of ageing populations with weak productivity growth raise questions about the long-term growth outlook. The need to build economic resilience to both short-term shocks and longer-term transitions become self-evident by the day. Produc...

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Technology & Cyber

BankWealth ManagerAsset Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

November 20th 2024

Issue 11 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Enforcement high

November 8th 2024

The AMF Enforcement Committee fines a financial investment advisor, two asset management companies and their directors, and a credit institution a total of €5,670,000

Sanctions & settlements professional obligations Journalists Investment management companies The AMF Enforcement Committee fines a financial investment advisor, two asset management companies and their directors, and a credit institution a total of €5,670,000

AI Analysis

The AMF Enforcement Committee imposed total fines of €5,670,000 on a financial investment advisor (FIA), two asset management companies (AMCs), their directors, and a credit institution for breaches of professional obligations. This enforcement action underscores the AMF's rigorous scrutiny of operational controls, due diligence, and governance in investment services, serving as a critical reminder for firms to maintain robust procedures to avoid similar sanctions. It matters because it highlights personal liability for directors and escalating fines for systemic failures, potentially influencing peer reviews and audit priorities.

What Changed

This is an enforcement decision, not a regulatory change introducing new rules. It reinforces existing AMF requirements under professional obligations, including:
Implementation of operational procedures for investment/divestment processes, such as verifying lender authorizations.
Systematic anti-money laundering (AML) and counter-terrorism financing (CTF) due diligence on fund assets and liabilities.
Justification of retrocessions (rebates) to distributors, proving enhanced client service quality.
Honest, fair, and diligent business conduct with requisite skill and care, extending to marketing materials and advisory services. No new requirements; emphasis on enforcement of MiFID II-aligned...

Suggested Considerations

Conduct gap analysis of operational procedures for investments/divestments, ensuring lender authorization checks (reference AMF Position-Recommendation DOC-2020-05 on portfolio management).
Review AML/CTF due diligence frameworks for fund assets/liabilities, aligning with AMF Regulation 2016-01.
Audit retrocession practices to distributors, documenting service quality enhancements (per AMF doctrine on inducements).
Update marketing materials and advisory processes for compliance with honesty/fairness standards.
Enhance senior manager attestations and training on personal liability under CMF L.621-15-1.

October 21st 2024

Issue 9 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

October 18th 2024

The AMF is warning the public against several entities proposing atypical investments without being authorised to do so

Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several entities proposing atypical investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Insurance & Pensions Consumer Credit

🇮🇪 CBI Speech medium

October 14th 2024

Central Bank publishes Flood Protection Gap Report

The Central Bank of Ireland has today (Monday 14 October) published its Flood Protection Gap Report . Some homes and businesses in Ireland are unable to obtain flood cover. This means that when a flood occurs, there can be a shortfall between the actual cost of the flood and the portion of that cost that is covered by insurance. This is the flood protection gap. The occurrence of severe flooding could and does leave households and business with high levels of uninsured losses, and may create ...

Sectors:

Topics:

Prudential / Capital Requirements ESG Reporting & Disclosure

BankInsuranceAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

October 1st 2024

ESMA’s communications to support the implementation and supervision of corporate sustainability reporting

Sustainable Finance Periodic & ongoing disclosures ESMA’s communications to support the implementation and supervision of corporate sustainability reporting

Sectors:

Topics:

Asset ManagerBankBroker Dealer

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Guidance high

October 1st 2024

Corporate Sustainability Reporting directive (CSRD): EFRAG and the European Commission publish implementation guidance and FAQs

Sustainable Finance Periodic & ongoing disclosures Corporate Sustainability Reporting directive (CSRD): EFRAG and the European Commission publish implementation guidance and FAQs

AI Analysis

The AMF publication announces implementation guidance and FAQs on the Corporate Sustainability Reporting Directive (CSRD) released by EFRAG and the European Commission, aimed at clarifying reporting standards under the European Sustainability Reporting Standards (ESRS). This matters for compliance professionals as it provides actionable tools to meet expanded sustainability disclosure requirements, ensuring audit-ready reporting amid phased rollouts and third-party assurance mandates. It supports harmonized EU-wide compliance for nearly 50,000 companies, enhancing data comparability and investor transparency.

What Changed

- EFRAG and the European Commission have published specific implementation guidance and FAQs to operationalize CSRD reporting using ESRS, focusing on double materiality assessments, climate...
CSRD replaces the NFRD with broader scope (quadrupling affected companies to ~50,000), mandatory digital tagging (ESEF/XBRL), limited third-party assurance (phasing to reasonable), and integrated...
Recent amendments defer timelines for certain waves, adjust scope thresholds, add exemptions, cap value-chain disclosures, and refine assurance standards.

Suggested Considerations

Review EFRAG/EC guidance and FAQs for ESRS implementation; conduct double materiality assessment to identify material ESG topics.
Map and collect ESG data (GHG emissions Scope 1-3, value-chain impacts) with audit trails; develop Paris-aligned transition plans.
Integrate sustainability into management reports with digital tagging (XBRL/ESEF); secure limited third-party assurance.
Strengthen data governance, test processes, and monitor updates from EFRAG/EC/AMF.

Key Dates

2025

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerCrypto Exchange

Investment Management Capital Markets & Trading Banking & Credit

🇫🇷 AMF Enforcement low

March 20th 2024

Valérie Michel-Amsellem becomes Chair of the AMF Enforcement Committee

Appointment Sanctions & settlements Journalists Valérie Michel-Amsellem becomes Chair of the AMF Enforcement Committee

AI Analysis

This AMF publication announces the appointment of Valérie Michel-Amsellem as the new Chair of the AMF Enforcement Committee, the independent body responsible for imposing sanctions in financial market violations. It matters for compliance professionals because leadership changes in enforcement can signal shifts in sanctioning priorities, rigor, or focus areas, potentially influencing how firms approach risk management and remediation. While no immediate policy changes are introduced, monitoring the new Chair's tenure is essential given the Committee's role in upholding market integrity.

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Market Abuse / Surveillance Authorisation & Licensing

Asset ManagerBroker DealerBank

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF News medium

March 14th 2024

Combatting money laundering and terrorist financing: AMF applies two sets of European Banking Authority guidelines

Asset management Anti-money Laundering Combatting money laundering and terrorist financing: AMF applies two sets of European Banking Authority guidelines

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

March 11th 2024

Issue 3 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇮🇪 CBI News

March 8th 2024

Issue 2 2024

No description available.

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Enforcement low

February 27th 2024

Appointements to the AMF Enforcement Committee

Appointment Sanctions & settlements Journalists Appointements to the AMF Enforcement Committee

AI Analysis

This AMF publication announces the partial renewal of the Enforcement Committee, including four new appointments, two reappointments, and the subsequent election of Valérie Michel-Amsellem as Chair on 28 February 2024. It matters for compliance professionals as changes in committee composition can influence enforcement priorities, sanction severity, and interpretations of financial regulations under AMF jurisdiction.

What Changed

There are no new regulatory requirements or substantive changes to laws; this is an administrative renewal of the Enforcement Committee's membership. Key developments include: new members Jean-Claude Hassan (Vice-President of the Council of State appointee, also chairs second section), Xavier Samuel (Court of Cassation appointee), Sophie Langlois and Aurélien Soustre (Ministerial appointees); reappointments of Anne Le Lorier and Ute Meyenberg.

Suggested Considerations

Amsellem's prior roles in economic regulation and Court of Cassation) to anticipate enforcement trends; update internal AMF monitoring dashboards with new committee details; assess ongoing investigations or settlements for potential impact from refreshed perspectives.

Key Dates

13 February 2024

AMF activity Institutional Journalists Astrid Milsan will act as Secretary General of the AMF until 15 April 2024

Deadline: 15 April 2024

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance Reporting & Disclosure

BankAsset ManagerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

January 30th 2024

The AMF warns the public about fraudulent press advertisements proposing investments in car parks with electric charging points

Warning Savings protection Financial Scams Warning The AMF warns the public about fraudulent press advertisements proposing investments in car parks with electric charging points

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

BankWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

January 16th 2024

The Autorité des marchés financiers (AMF) is warning professionals about the extensive fraudulent and malicious use of its name, with links to various websites that could trick people into running a malicious computer program

Warning Identity theft Savings protection Warning The Autorité des marchés financiers (AMF) is warning professionals about the extensive fraudulent and malicious use of its name, with links to various websites that could trick people into running a malicious computer program

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Operational Resilience / Outsourcing

BankWealth ManagerFintech

Investment Management Capital Markets & Trading Banking & Credit

🇫🇷 AMF Warning high

January 10th 2024

Periodic & ongoing disclosures Sustainable Finance Regulatory developments The AMF responds to the European Commission’s public consultation on the draft European sustainability reporting standards

AI Analysis

The AMF's response to the European Commission's public consultation advocates for simplified European Sustainability Reporting Standards (ESRS) under the CSRD, emphasizing retained quality in climate reporting, interoperability with ISSB standards, and proportionality while opposing overly complex materiality assessments. This matters for compliance professionals as it signals upcoming ESRS revisions that could reduce reporting burdens but maintain investor-focused disclosures, influencing 2026-2028 sustainability statements for listed firms and financial institutions. https://www.amf-france.org/en/news-publications/news/amf-responds-european-commissions-public-consultation-draft-european-sustainability-reporting

What Changed

- Simplified ESRS Structure: EFRAG's draft reduces mandatory datapoints by 57-71% and ESRS length by 55%, focusing on materiality, fair presentation, and quantitative data while streamlining double...
Materiality Assessment: AMF opposes assessing impact materiality post-mitigation (prefers "gross" approach for relevance and consistency) but supports specifying impacts, risks, or opportunities per...
Climate Reporting: AMF regrets removal of "net-zero" target definition (requiring 90-95% gross GHG reduction trajectory) and seeks harmonization for financial actors; supports Option 1 for...
Reporting Reliefs: Introduces "undue costs or efforts" exemptions (e.g., for metrics except Scope 3 GHG), with AMF recommending time-bound limits; further simplification proposed for social metrics...
Interoperability: AMF stresses alignment with ISSB, accepting some EU-specific divergences for simplification.

Suggested Considerations

Review and refresh double materiality assessments using "gross" impacts, specifying risks/opportunities per topic.
Retain "net-zero" definitions in climate plans if used; prepare quantitative climate financial effects data (Option 1).
Evaluate "undue costs" reliefs for non-climate metrics, documenting with time-bound justifications.
Monitor EFRAG/EC updates post-November 2025; test voluntary simplified ESRS in 2026 cycles.

Key Dates

July 31, 2025

EFRAG submits simplified ESRS draft for consultation. https://www.amf-france.org/en/news-publications/news/corporate-sustainability-reporting-amfs-response-efrags-consultation-simplification-european

September 29, 2025

EFRAG consultation closes. https://www.amf-france.org/en/news-publications/news/corporate-sustainability-reporting-amfs-response-efrags-consultation-simplification-european

End of November 2025

EFRAG presents technical advice to European Commission. https://www.amf-france.org/en/news-publications/news/corporate-sustainability-reporting-amfs-response-efrags-consultation-simplification-european

June 2026 DEADLINE

Potential ESRS adoption deadline. https://www.amf-france.org/en/news-publications/depth/csrd-sustainability-reporting

2026 Financial Year (reports in 2027)

Voluntary use of simplified standards possible if legislative timeline allows. https://www.amf-france.org/en/news-publications/news/corporate-sustainability-reporting-amfs-response-efrags-consultation-simplification-european ; https://www.amf-france.org/en/news-publications/depth/csrd-sustainability-reporting

Compliance Impact

Urgency: Medium – Revisions offer relief (e.g., 57%+ datapoint cuts) but require proactive preparation for voluntary 2026 use and mandatory 2027/2028; critical for 2025 reporters under current ESRS/"quick fix" to avoid enforcement. Matters due to AMF/ESMA supervision ramp-up, investor demands for comparable climate data, and ISSB alignment risks if divergences grow.

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Asset ManagerBankAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

July 7th 2023

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Broker DealerFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News low

March 30th 2023

Laure Tertrais is appointed Head of the AMF Chair’s Executive Office with effect from 1 April 2023

Appointment AMF activity Institutional Journalists Laure Tertrais is appointed Head of the AMF Chair’s Executive Office with effect from 1 April 2023

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance

Asset ManagerBankAll Firms

Investment Management Banking & Credit Capital Markets & Trading

🇫🇷 AMF News medium

March 24th 2023

Sustainable Finance Disclosure Regulation: the AMF publishes a study on classifications and fossil fuel exposure in the French funds universe

Sustainable Finance Asset management Sustainable Finance Disclosure Regulation: the AMF publishes a study on classifications and fossil fuel exposure in the French funds universe

Sectors:

Topics:

ESG Reporting & Disclosure Authorisation & Licensing

Asset ManagerBankBroker Dealer

🇮🇪 CBI Speech medium

March 22nd 2023

“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk at Insurance Ireland - KPMG Briefing Session

“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk, Central Bank of Ireland at Insurance Ireland - KPMG Briefing Session: CBI Review of the Consumer Protection Code

Sectors:

Consumer Protection / Conduct Prudential / Capital Requirements

Topics:

BankInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

March 8th 2023

Publication by the Climate and Sustainable Finance Commission: climate resolutions

Sustainable Finance Publication by the Climate and Sustainable Finance Commission: climate resolutions

Sectors:

Topics:

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News

March 8th 2023

Shareholder dialogue on environmental and climate issues

Sustainable Finance Executive & other private individuals Journalists Listed companies and issuers Shareholder dialogue on environmental and climate issues

Sectors:

Topics:

Asset ManagerBankBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

March 7th 2023

Mystery shopping campaign to bank branches: progress made in the questioning to client, improvements needed in the information provided

MIFID Supervision Retail investors Journalists Mystery shopping campaign to bank branches: progress made in the questioning to client, improvements needed in the information provided

Sectors:

Topics:

Consumer Protection / Conduct Reporting & Disclosure Authorisation & Licensing

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 2nd 2023

The AMF warns the public about fraudulent investment offers through trading robots

Warning Warning Savings protection Forex and binary options The AMF warns the public about fraudulent investment offers through trading robots

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Technology & Cyber

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News

February 24th 2023

AI enthusiasts, the AMF challenges you

Innovation Markets AI enthusiasts, the AMF challenges you

Sectors:

Topics:

Technology & Cyber Authorisation & Licensing Consumer Protection / Conduct

Asset ManagerWealth ManagerFintech

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF News medium

February 22nd 2023

Anti-money laundering and combating the financing of terrorism: the AMF applies the guidelines of the European Banking Authority

Asset management Anti-money Laundering Anti-money laundering and combating the financing of terrorism: the AMF applies the guidelines of the European Banking Authority

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Authorisation & Licensing

Asset ManagerBankWealth Manager

🇫🇷 AMF News medium

February 17th 2023

Termination of membership towards Indian central counterparties: a transition period planned for the French credit institutions

EMIR Termination of membership towards Indian central counterparties: a transition period planned for the French credit institutions

Sectors:

Prudential / Capital Requirements Authorisation & Licensing

Topics:

Bank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News medium

February 10th 2023

Marketing of financial products to ageing populations: publication of an independent academic research report on customer relations and sales processes

Savings protection Marketing Marketing of financial products to ageing populations: publication of an independent academic research report on customer relations and sales processes

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News high

January 17th 2023

Publication of the new directive on corporate sustainability reporting (CSRD)

Sustainable Finance Periodic & ongoing disclosures Publication of the new directive on corporate sustainability reporting (CSRD)

Sectors:

Topics:

Asset ManagerBankBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

January 13th 2023

The AMF warns the public about calls from fraudsters claiming to help recover funds

Warning Warning Savings protection The AMF warns the public about calls from fraudsters claiming to help recover funds

Sectors:

Topics:

Consumer Protection / Conduct AML / Financial Crime

BankWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News

January 12th 2023

Artificial intelligence, towards new contributions for regulators

Artificial intelligence Financial disclosures & corporate financing Innovation Prospectus Artificial intelligence, towards new contributions for regulators

Sectors:

Topics:

Technology & Cyber Reporting & Disclosure Authorisation & Licensing

Asset ManagerBroker DealerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 27th 2022

The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇫🇷 AMF Warning high

December 21st 2022

The AMF and the ACPR warn the public against the activities of several entities offering in France investments in Forex and in crypto-assets derivatives without being authorized to do so

Warning Savings protection Forex and binary options Crypto-assets Warning The AMF and the ACPR warn the public against the activities of several entities offering in France investments in Forex and in crypto-assets derivatives without being authorized to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankFintechCrypto Exchange

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇫🇷 AMF Consultation high

December 20th 2022

The AMF publishes its proposals for an open finance framework

Innovation The AMF publishes its proposals for an open finance framework

AI Analysis

The Autorité des Marchés Financiers (AMF), France's financial markets authority, has published proposals for an **open finance framework** via a public consultation, extending open banking principles to broader financial data sharing for enhanced innovation and competition. This matters for compliance professionals as it signals upcoming regulatory requirements for secure data access, APIs, and customer consent mechanisms, aligning with EU trends toward open finance while prioritizing consumer protection and market resilience. Firms must engage early to shape the final rules and prepare systems for compliance.

What Changed

The publication outlines AMF's proposals for an open finance framework, building on open banking (e.g., PSD2) to include investments, insurance, and asset management data. Key elements include:
Mandatory API-based data sharing for account information and payment initiation, extended to non-banking products like securities and insurance.
Enhanced customer consent and control mechanisms, with granular permissions, revocation rights, and strong authentication.
Security and liability standards aligned with DORA (Digital Operational Resilience Act), including incident reporting and resilience testing.
Governance structure with a centralized standards body, similar to open banking hubs in the UK or EU.

Suggested Considerations

Review and respond to consultation: Submit feedback on proposals via AMF portal (https://www.amf-france.org/en/news-publications/news/amf-publishes-its-proposals-open-finance-framework) to influence final rules.
Conduct gap analysis: Assess current APIs, data sharing capabilities, consent processes against proposed standards; integrate DORA compliance.
Update policies: Revise customer onboarding, data protection (GDPR alignment), and TPP accreditation processes.
Engage stakeholders: Participate in AMF's asset management tokenization consultation and AI use cases study for synergies.
Test systems: Pilot secure APIs for investment/insurance data sharing; prepare for cybersecurity inspections.

Key Dates

2026 (H2)

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankCrypto ExchangeFintech

Investment Management Capital Markets & Trading Banking & Credit

🇮🇪 CBI Enforcement medium

September 26th 2022

Central Bank of Ireland Issues Warning on Unauthorised Firm – Fraudulent entity clones authorised firm SEI Investments

It has come to the attention of the Central Bank that a scam entity by the name SEI Investment (United States, Ireland), formerly operating the fraudulent clone website www.seiinvestment.com, has been claiming to be an investment firm / investment business firm in the absence of appropriate authorisations. In this instance, the scam entity cloned details and website content of the legitimate firm, SEI Investments (www.seic.com), in order to deceive consumers. The legitimate firm was proactive...

AI Analysis

The Central Bank of Ireland (CBI) issued a warning on 26 September 2022 about a fraudulent entity named "SEI Investment (United States, Ireland)" that cloned the legitimate authorised firm SEI Investments (www.seic.com) via the fake website www.seiinvestment.com to deceive consumers into unauthorised investment services. This matters because it highlights the rising threat of clone firm scams, which impersonate authorised entities using stolen details like names, addresses, and authorisation numbers, exposing firms to reputational risk and consumers to financial loss without Investor Compensation Scheme protection. Authorised firms must remain vigilant in monitoring for clones and reporting them promptly, as demonstrated by SEI Investments' proactive response that led to the site's deactivation in February 2022.

What Changed

This is not a regulatory change or new requirement but a public enforcement warning under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013, emphasising ongoing enforcement against unauthorised firms providing regulated financial services, which is a criminal offence. It reinforces consumer protection guidance without introducing new rules, but signals CBI's heightened focus on clone firm frauds, as seen in similar warnings (e.g., The Capital Holdings clone, Bank of Ireland clones).

Suggested Considerations

Monitor for clones: Regularly search for impersonations of your firm's name, website, authorisation numbers, LEI, CRO, or address; report suspicions to CBI at (01) 224 4000.
Client communications: Advise clients to always access CBI Register directly from www.centralbank.ie (not via email/website links), double-check URLs/phone numbers, verify products on legitimate sites, and apply the SAFE test for unsolicited contacts.
Internal processes: Update fraud awareness training, client onboarding checks, and surveillance for clone activity; emulate SEI Investments by proactively notifying authorities.
Public reporting: Encourage staff/clients to report unauthorised activity via CBI hotline or Search Unauthorised Firms page.

Key Dates

What Changed

This is not a new regulation but AMF's recommendations to ISSB, emphasizing:
Interoperability with EU standards: AMF urges alignment between ISSB's financial materiality approach and EFRAG's double-materiality (impact + financial) ESRS, including jurisdictional working groups...
Broad ESG coverage: Calls for sector-agnostic standards beyond climate (e.g., full ESG spectrum via collaboration with EFRAG/GRI).
Phased implementation: Suggests gradual rollout of detailed requirements (e.g., Appendix B in S2) and an ISSB "Transition Resource Group" like IASB's for IFRS 9/15/17 to aid implementation.
Double-materiality advocacy: Prefers standards addressing all stakeholders, not just investors. No binding changes; ISSB issued final IFRS S1/S2 in June 2023.

Suggested Considerations

Monitor and map standards: Conduct gap analyses between current disclosures, ESRS, and ISSB S1/S2, focusing on interoperability (e.g., climate metrics, Scope 3 GHG).
Engage in transitions: Participate in potential ISSB Transition Resource Group or jurisdictional groups; prepare for phased ISSB implementation if adopted locally.
Enhance reporting processes: Update materiality assessments for double-materiality, quantitative climate financial impacts, and ESG breadth; leverage AMF's 2025 study on listed firms for benchmarks.
Stakeholder dialogue: Respond to ongoing consultations (e.g., EFRAG until Sep 2025) and track ISSB agenda priorities.

Compliance Impact

Urgency: Medium. This 2022 AMF response is historical but highly relevant amid 2025 EFRAG simplifications emphasizing ISSB interoperability, as EU firms juggle CSRD with global ISSB momentum (e.g., IFRS finals in 2023). Matters for avoiding reporting fragmentation, with risks of supervisory scrutiny on French listed firms; low immediate enforcement but builds toward mandatory convergence.

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Asset ManagerBankAll Firms

Consumer Protection / Conduct Authorisation & Licensing

🇫🇷 AMF Enforcement medium

July 25th 2022

The AMF Enforcement Committee fines a depositary for breaches of its professional obligations

Sanctions & settlements Compliance Journalists Investment services providers The AMF Enforcement Committee fines a depositary for breaches of its professional obligations

AI Analysis

The AMF Enforcement Committee fined RBC Investor Services Bank France SA (RBC ISBF) €500,000 plus a warning on 20 July 2022 (published 08 January 2026) for breaches as a UCITS and AIF depositary, including 25 confirmed failures in tiered intervention procedures for investment ratio overruns and deficient monitoring of 14 questionable cash flows over 45 months. This decision underscores AMF's strict enforcement of depositary duties under French regulations implementing UCITS/AIFMD, emphasizing robust controls for ratio compliance, cash flow verification, and documentation. It matters for compliance teams as it provides precedent on what constitutes "irregular and deficient" oversight, potentially increasing scrutiny and fines for similar lapses in depositary functions.

What Changed

This is an enforcement decision, not a new regulation, but it clarifies and reinforces existing depositary obligations under French UCITS/AIFMD rules (e.g., Articles L. 214-7 et seq.
Ratio monitoring and intervention: Depositaries must implement tiered procedures for investment/asset composition ratio breaches (e.g., diversification limits); 25 of 28 alleged anomalies were upheld...
Cash flow oversight: Must identify significant/inconsistent flows, verify instructions against laws, fund rules, prospectuses, and ensure ownership thresholds (e.g., 5% capital holding for advances);...

Suggested Considerations

Review depositary controls: Audit tiered intervention procedures for ratio overruns; ensure unique tracking (even if not upheld here) and redundancy elimination in reporting.
Enhance cash flow monitoring: For all inflows/outflows, collect "precise and convincing" docs (e.g., ownership proofs for advances >5% capital); flag inconsistencies with fund docs/prospectus.
Conduct gap analysis: Sample historical flows (e.g., 45-month lookbacks) across AIFs/UCITS; test against AMF objections standards from this and similar cases (e.g., CACEIS).
Update policies/procedures: Document controls for legality checks on instructions; train staff on evidentiary thresholds to avoid "deficient monitoring" findings.
Appeal if applicable: Lodge appeal against decision (no deadline specified).

Key Dates

BankFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

June 27th 2022

The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇫🇷 AMF Enforcement low

June 24th 2022

Appointments to the Legal Affairs Directorate and Enforcement Assistance Directorate of the Autorité des Marchés Financiers

Institutional AMF activity Appointment Journalists Appointments to the Legal Affairs Directorate and Enforcement Assistance Directorate of the Autorité des Marchés Financiers

AI Analysis

This AMF publication announces internal appointments to its **Legal Affairs Directorate** and **Enforcement Assistance Directorate**, signaling potential enhancements in legal oversight and enforcement capabilities within France's financial markets regulator. Compliance professionals should note this as it may indicate a renewed focus on rigorous enforcement of market rules, though it imposes no direct regulatory changes on firms.

What Changed

There are no regulatory changes, new requirements, or policy updates in this announcement. It solely details personnel appointments within AMF's internal structure, specifically leadership roles in directorates handling legal affairs (e.g., Maxence Delorme as head of Legal Affairs Directorate) and enforcement assistance (e.g., Amélie du Passage as head of Instruction and Enforcement Assistance Directorate). These directorates support AMF's core functions like investigations, inspections, and sanction proceedings, but the publication does not alter any rules applicable to regulated entities.

Suggested Considerations

*No specific actions are required for regulated firms, as this does not introduce obligations. Recommended monitoring steps for proactive compliance:
Review ongoing AMF interactions (e.g., inspections) for potential shifts in approach under new directorate leadership.
Update internal AMF contact lists with confirmed governance details from https://www.amf-france.org/en/amf/our-organisation/our-governance.
Track AMF news releases for enforcement trends at https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases.

Key Dates

16 October 2023

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankCrypto ExchangeFintech

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

March 28th 2022

The AMF warns the public against fraudulent offers to buy listed shares at preferential prices

Warning Savings protection Warning The AMF warns the public against fraudulent offers to buy listed shares at preferential prices

Sectors:

Topics:

Consumer Protection / Conduct Market Abuse / Surveillance Authorisation & Licensing

Broker DealerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 25th 2022

The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Warning Savings protection Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Crypto & Digital Assets Consumer Credit

🇫🇷 AMF News high

March 17th 2022

EBA, ESMA and EIOPA warn consumers on the risks of crypto-assets

Savings protection EBA, ESMA and EIOPA warn consumers on the risks of crypto-assets

Sectors:

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Authorisation & Licensing

BankCrypto ExchangeAll Firms

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News low

March 15th 2022

The AMF publishes a stock-take analysis of the market for short-term debt instruments in Europe

MMF The AMF publishes a stock-take analysis of the market for short-term debt instruments in Europe

Sectors:

Topics:

Prudential / Capital Requirements Reporting & Disclosure Authorisation & Licensing

Asset ManagerBankBroker Dealer

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News low

March 14th 2022

The AMF announces the appointment of Viet-Linh Nguyen as Head of the Strategy and Sustainable Finance Unit as well as Secretary of the Executive Committee

Appointment AMF activity Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...

Sectors:

Topics:

ESG Authorisation & Licensing Senior Managers / Governance

Asset ManagerBankFintech

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF Warning high

March 9th 2022

Consequences of the Ukrainian crisis: the AMF alerts asset management companies

Asset management Consequences of the Ukrainian crisis: the AMF alerts asset management companies

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Consumer Protection / Conduct

Asset ManagerBankWealth Manager

🇮🇪 CBI News

March 8th 2022

“Regulated firms must prioritise diversity at senior levels to prevent groupthink, promote internal challenge, and protect consumers and investors” - Derville Rowland, Director General, Financial Conduct

Gender diversity at senior levels in the regulated financial services sector is increasing but remains insufficient, according to the latest Central Bank of Ireland Demographic Analysis Report . The annual publication analyses applications to hold certain senior roles within regulated firms that require the Central Bank’s prior approval under the Fitness & Probity Regime. The Central Bank received more than 3,500 such applications for Pre-Approval Control Function (PCF) roles in 2021. This is...

Sectors:

Consumer Protection / Conduct Technology & Cyber Market Abuse / Surveillance

Topics:

Bank

🇫🇷 AMF Enforcement medium

February 18th 2022

The AMF to call for an amendment of the law on obstructing investigations and inspections

Sanctions & settlements Journalists The AMF to call for an amendment of the law on obstructing investigations and inspections

AI Analysis

The AMF announced its intention to propose legislative amendments to the French Monetary and Financial Code following a January 28, 2022 Constitutional Council decision that found dual prosecution for obstructing AMF investigations and inspections unconstitutional. The amendment aims to eliminate the possibility of simultaneous administrative and criminal penalties for the same obstruction conduct, while preserving the AMF's enforcement authority.

What Changed

The primary regulatory change addresses a constitutional violation regarding dual prosecution under the ne bis in idem principle:
Current problem: The Monetary and Financial Code previously allowed both administrative sanctions by the AMF Enforcement Committee and criminal prosecution for identical obstruction conduct,...
Proposed solution: Legislative amendments will eliminate the possibility of dual prosecution while maintaining the AMF's ability to sanction obstruction of investigations and inspections.
Scope of obstruction conduct: The law covers refusal to allow access to documents, provide copies, communicate information, respond to summons, or grant access to professional premises during AMF...

Suggested Considerations

*For compliance professionals and regulated entities:
*Review cooperation policies: Ensure internal procedures for responding to AMF investigation and inspection requests comply with current legal requirements and anticipated amendments.
*Monitor legislative developments: Track publication of proposed amendments in the French legislative process to understand final scope of changes.
*Counsel on cooperation: Advise business units that obstruction remains sanctionable; the amendment eliminates dual penalties, not the underlying obligation to cooperate.
*Document compliance: Maintain records demonstrating good-faith cooperation with AMF requests to support defense against obstruction allegations.

Key Dates

AI Analysis

The Central Bank of Ireland (CBI) published three "Behind the Data" papers on 20 January 2022 analyzing the international activities of Ireland's banking, insurance, investment funds, and non-bank financial intermediation (NBFI) sectors, highlighting post-Brexit asset migrations, insurer exposures via funds, and Ireland's fifth-largest global NBFI sector per FSB metrics. This matters for compliance professionals as it signals heightened CBI scrutiny on cross-border exposures, interconnectedness, and data granularity needs, potentially informing future supervisory expectations, macro-prudential policies, and reporting enhancements without imposing immediate rules.

What Changed

No direct regulatory changes, requirements, or new rules are introduced; these are analytical papers using existing locational banking, insurance, and fund data. Key insights include: (i) €180bn surge in cross-border bank assets (2018-Q3 2021) driven by UK-to-Ireland subsidiary migrations post-Brexit, concentrated in loans/deposits, derivatives, and three foreign-parent banks; (ii) Irish insurers' fund holdings primarily in equity (US-issued), bond (euro-area government/corporate), and mixed funds, with ~50% domiciled in Luxembourg but minimal local issuance; (iii) Recommendation for refined...

Suggested Considerations

Review and enhance internal reporting on cross-border assets, distinguishing Irish-parent vs. foreign-parent activities, in anticipation of potential narrower CBI statistics.
Map insurer fund exposures to underlying assets (e.g., equities, bonds) for geographic and asset-class transparency, addressing CBI-noted complexities in fund structures.
Assess NBFI activities against FSB economic functions for stability risks; prepare for possible granular data requests.
Monitor CBI's "Behind the Data" series for evolving trends, as it uses firm-submitted data and fulfills IMF recommendations (e.g., FSAP 2022 on fund exposures).

Key Dates

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF News medium

November 24th 2021

Money laundering and terrorist financing: the AMF applies EBA guidelines on risk factors

Asset management Anti-money Laundering Money laundering and terrorist financing: the AMF applies EBA guidelines on risk factors

Sectors:

Topics:

AML / Financial Crime Prudential / Capital Requirements Operational Resilience / Outsourcing

Asset ManagerBankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

November 22nd 2021

The AMF warns the public against the offerings of UGE Group

Warning Savings protection Atypical products Warning The AMF warns the public against the offerings of UGE Group

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankWealth Manager

Investment Management Banking & Credit Wealth & Private Banking

🇫🇷 AMF News

November 9th 2021

The AMF and the Banque de France publish an update of the inventory of liquidity management tools in French funds

Asset management Prospectus The AMF and the Banque de France publish an update of the inventory of liquidity management tools in French funds

Sectors:

Topics:

Prudential / Capital Requirements Consumer Protection / Conduct Reporting & Disclosure

Asset ManagerBankWealth Manager

Banking & Credit Capital Markets & Trading Investment Management

🇫🇷 AMF News medium

October 18th 2021

Market Data: the AMF applies ESMA Guidelines

MIFID Market Data: the AMF applies ESMA Guidelines

Sectors:

Topics:

Market Abuse / Surveillance Reporting & Disclosure Authorisation & Licensing

Asset ManagerBroker DealerBank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News

October 14th 2021

Certification in sustainable finance: the AMF names the first certified training organisations

Professional certification Sustainable Finance Certification in sustainable finance: the AMF names the first certified training organisations

Sectors:

Topics:

ESG Authorisation & Licensing Consumer Protection / Conduct

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF News medium

October 7th 2021

The AMF updates its investigation and inspection charters

Supervision The AMF updates its investigation and inspection charters

Sectors:

Topics:

Authorisation & Licensing Reporting & Disclosure Operational Resilience / Outsourcing

BankAsset ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF News low

October 4th 2021

The AMF and the European Central Bank (ECB) sign a supervisory cooperation arrangement

Europe & international Cooperation The AMF and the European Central Bank (ECB) sign a supervisory cooperation arrangement

Sectors:

Topics:

Prudential / Capital Requirements Operational Resilience / Outsourcing Authorisation & Licensing

BankAsset ManagerWealth Manager

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

🇫🇷 AMF Warning high

October 1st 2021

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankCrypto ExchangeFintech

Banking & Credit Insurance & Pensions Capital Markets & Trading Payments & E-Money Crypto & Digital Assets

🇮🇪 CBI Enforcement low

June 23rd 2021

Supervisory Priorities in Uncertain Times - Domhnall Cullinan, Director of Insurance Supervision

Introduction Good morning, and thank you for attending our Insurance Industry Event, the second of these which we’ve held virtually. Hopefully, as the vaccine rollout continues and restrictions are eased, there won’t have to be a third! The COVID 19 crisis has brought about a significant amount of change to all of our personal and professional lives, and with it has provided the opportunity to reflect on what is important, and where our priorities should lie. With this in mind, I would like t...

Sectors:

Topics:

AML / Financial Crime Consumer Protection / Conduct Prudential / Capital Requirements

Insurance

Banking & Credit Investment Management Insurance & Pensions

🇮🇪 CBI Enforcement high

June 10th 2021

The importance of fitness, probity and ensuring responsibility - Director General, Financial Conduct, Derville Rowland

Speech delivered at Institute of Directors’ Briefing Webinar on 10 June 2021 Good morning everyone, I am delighted to speak to you on the importance of effective culture in firms, the contribution fitness and probity can make, and how we see the forthcoming Individual Accountability Framework further reinforcing effective culture. I’ll come to each of those topics in turn. But first let me say that the Central Bank and the Institute of Directors have overlapping visions. The Central Bank serv...

AI Analysis

This 2021 speech by Derville Rowland, Director General of Financial Conduct at the Central Bank of Ireland (CBI), emphasizes the critical role of the Fitness & Probity (F&P) regime and the forthcoming Individual Accountability Framework (IAF) in fostering effective culture, governance, and individual responsibility in regulated firms. It matters because it signals CBI's supervisory priorities on senior role holders' competence, integrity, and accountability, which have since evolved into concrete regulatory updates, directly impacting board and compliance functions to mitigate conduct risks and ensure consumer protection. https://www.centralbank.ie/news/article/speech-importance-of-fitness-probity-and-ensuring-responsibility-derville-rowland-10-june-2021

What Changed

The speech itself outlines no new statutory changes but highlights the F&P regime's role in ensuring "fit and proper" individuals in key roles and previews the IAF as a complementary framework to...
Consolidation of F&P Standards into the Fitness and Probity Standards 2025, applicable across all sectors, read alongside revised Guidance on the Fitness and Probity Standards (effective 20 November...
Amendments to Pre-Approval Controlled Functions (PCFs), adding roles like Designated Person for Investment Management (PCF-39D), Distribution (PCF-39E), and Regulatory Compliance (PCF-39F),...
Clarifications on due diligence (best-efforts basis for references, criminal checks, financial soundness via public records only—no bank statements required), time commitments (case-by-case), and...
Proportionality for fitness assessments but not probity; ongoing certification obligations for Controlled Functions (CFs) and PCFs. These build on the speech's vision, addressing Enria Report...

Suggested Considerations

Conduct thorough F&P due diligence on PCF/CF holders pre-appointment and ongoing (best-efforts for references, criminal/financial checks via public records; assess time commitments case-by-case).
Certify annually that PCF/CF individuals meet standards; no dual certification needed if PCF covers CF-1/2.
Review and update succession planning, handover policies, and conduct breach procedures in light of new PCFs and IAF/SEAR (Statements of Effectiveness and Accountability of Responsibilities).
Assess residency and capacity for non-resident PCF holders case-by-case, considering firm complexity.
Embed F&P into culture and governance frameworks, aligning with IAF Conduct Standards once enacted.[Speech]

Key Dates

22 September 2021

- CBI notice of intention to amend PCFs under F&P regime (e.g., new Designated Persons roles)

20 November 2025

- Effective date for revised Guidance on Fitness and Probity Standards

24 November 2025

- CBI publishes Feedback Statement on CP160, Fitness and Probity Standards 2025, and revised Guidance

Post

amendment (TBD, after regulations effective); - 6-week window for in-situ PCF assessments and confirmations to CBI

Compliance Impact

Urgency: High – While the 2021 speech is foundational, 2025 Standards and Guidance are now effective, mandating immediate due diligence enhancements and certifications amid IAF rollout. Non-compliance risks CBI investigations, prohibitions, or sanctions, especially with expanded PCFs tying into broader accountability (e.g., SEAR). This elevates board exposure, demanding proactive governance reviews to align culture with consumer protection mandates.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Senior Managers / Governance Consumer Protection / Conduct Authorisation & Licensing

BankAsset ManagerInsurance

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 31st 2021

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

March 27th 2019

The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de resolution (ACPR) warn the public about a number of unauthorised online investment

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

BankCrypto ExchangeFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 27th 2019

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

December 13th 2018

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

BankCrypto ExchangeFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

September 26th 2018

The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

September 24th 2018

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

June 18th 2018

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Consumer Credit Mortgage & Lending

🇮🇪 CBI Consultation high

March 20th 2018

Credit Reports now available

Following a satisfactory review of the data submitted by banks and credit unions, to the Central Credit Register, the initial enquiry phase has now commenced. This means that from today borrowers and lenders can request a copy of credit reports from the Central Credit Register. Data on mortgages, personal loans, credit cards and overdrafts, which is backdated to 30 June 2017, is live on the system and is incorporated into credit reports. From 30 September 2018 it will be compulsory for credit...

Sectors:

Topics:

Reporting & Disclosure Consumer Protection / Conduct Authorisation & Licensing

BankPayment ProviderAll Firms

Banking & Credit Investment Management Crypto & Digital Assets

🇫🇷 AMF Warning high

March 15th 2018

The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized companies proposing atypical investments without being authorised to do so

Warning Savings protection Crypto-assets Atypical products Warning The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized companies proposing atypical investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Crypto ExchangeFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

February 23rd 2018

The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) are warning the public against the activities of bil patrimoine and the website

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 20th 2017

The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

December 19th 2017

The Autorité des marchés financiers (AMF) warns the public against the company International Markets Live LTD (IMarketsLive)

Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the company International Markets Live LTD (IMarketsLive)

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 14th 2017

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇫🇷 AMF Warning high

September 22nd 2017

The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

June 29th 2017

The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options

Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

June 28th 2017

The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

April 3rd 2017

The Autorité des marchés financiers warns once again the public about proposals to invest in diamonds

Warning Savings protection The Autorité des marchés financiers warns once again the public about proposals to invest in diamonds

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 30th 2017

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Broker DealerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

October 14th 2016

The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇫🇷 AMF Warning high

September 14th 2016

The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading

Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechCrypto Exchange

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇫🇷 AMF Warning high

June 17th 2016

The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechCrypto Exchange

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

June 10th 2016

The Autorité des Marchés Financiers (AMF) advises the clients of the websites www.interactiveoption.com, www.interactive-option.com, www.hellobrokers.com, www.mtxplus.com and www.pegasecapital.com to contact Pegase Capital

Warning Savings protection The Autorité des Marchés Financiers (AMF) advises the clients of the websites www.interactiveoption.com, www.interactive-option.com, www.hellobrokers.com, www.mtxplus.com and www.pegasecapital.com to contact Pegase Capital Ltd, the owner of these websites, as soon as possible

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

Broker DealerWealth ManagerFintech

Banking & Credit Capital Markets & Trading Crypto & Digital Assets

🇫🇷 AMF Warning high

May 30th 2016

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechCrypto Exchange

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

February 4th 2016

The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 17th 2015

The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 16th 2015

The Autorité de contrôle prudentiel et de résolution (ACPR), the Autorité des marchés financiers (AMF) and the General Directorate for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF)

Warning Savings protection The Autorité de contrôle prudentiel et de résolution (ACPR), the Autorité des marchés financiers (AMF) and the General Directorate for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) warn the public about "Plan B" and the website BourseBinaire.fr

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

BankWealth ManagerBroker Dealer

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

November 23rd 2015

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

May 28th 2015

The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of 14 unauthorised websites and operators

Warning Savings protection The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of 14 unauthorised websites and operators

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

May 13th 2015

The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

May 7th 2015

The Autorité de Contrôle Prudentiel et de Résolution and The Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and The Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

🇫🇷 AMF Warning high

April 27th 2015

The Autorité des Marchés Financiers (AMF) is warning the public against sites misusing its name and logo and redirecting to binary option trading platforms.

Warning Savings protection Warning The Autorité des Marchés Financiers (AMF) is warning the public against sites misusing its name and logo and redirecting to binary option trading platforms.

Sectors:

Consumer Protection / Conduct Authorisation & Licensing

Topics:

Broker DealerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

March 26th 2015

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

December 22nd 2014

The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechAll Firms

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

December 15th 2014

The AMF warns investors about Algorates Limited

Warning Savings protection The AMF warns investors about Algorates Limited

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerFintech

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

October 22nd 2014

The AMF warns investors against the activities of CAC Invest

Warning Savings protection Warning The AMF warns investors against the activities of CAC Invest

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

Asset ManagerWealth ManagerBank

Banking & Credit Investment Management Wealth & Private Banking

🇫🇷 AMF Warning high

September 25th 2014

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankBroker DealerWealth Manager

Banking & Credit Investment Management Capital Markets & Trading

🇫🇷 AMF Warning high

December 11th 2013

The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Warning Savings protection The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading

Sectors:

Topics:

Consumer Protection / Conduct Authorisation & Licensing Market Abuse / Surveillance

Broker DealerFintechAll Firms

🇮🇪 CBI Enforcement low

June 28th 2011

Address by Professor Cormac O'Grada, School of Economics, UCD, to the Central Bank Whitaker Lecture

Five Crises Ábhar mór bróid dom an léacht seo a thabhairt in onóir an Dochtúra T.K. Whitaker. Agus mar bharr ar sin, é bheith i láthair anocht. It is a great honour to be asked to deliver this lecture in honour of Dr. Ken Whitaker, all the more so in his presence. Go maire sé an céad! Or even better, as the Yiddish saying goes, ‘biz hundert un tsvantsik’. Economic crises often prompt us to look backwards and, perhaps, to seek solace in parallels and precedents in the past. Just as rising unem...

AI Analysis

This 2011 Whitaker Lecture by Professor Cormac O'Grada, hosted by the Central Bank of Ireland (CBI), is an academic speech analyzing five historical economic crises in Ireland, including the Economic War, WWII Emergency, 1950s downturn, and others, to contextualize the post-2008 financial crisis. It lacks any regulatory changes, enforcement actions, or compliance mandates, serving instead as reflective economic history rather than a binding publication. Compliance professionals need not action it directly, but it offers historical perspective on crisis resilience relevant to risk management and governance discussions.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Topics:

Bank