AMLA Consults on Group-Wide Requirements and Business-Wide Risk Assessment
On 16 April 2026 the EU Anti‑Money Laundering Authority (AMLA) launched two consultations on draft instruments that will define how obliged entities assess and manage money‑laundering and terrorist‑financing risks. The first proposes guidelines under Article 10(4) of the AML Regulation, setting minimum expectations while allowing proportionality based on size, business model and risk profile. The second introduces draft regulatory technical standards for group‑wide AML frameworks, including cross‑border and third‑country operations. Public hearings are slated for 20 May and 28 May, with comment deadlines on 15 June and 15 July.
Regulated Fees and Levies: Rates Proposals 2026/27
On 17 April 2026 the Prudential Regulation Authority released its 2026/27 fee proposals, outlining rates needed to meet the Annual Funding Requirement. The Future Banking Data programme cost is set to rise by £3.6 million (≈$4.5 million), while internal model application and maintenance fees...
Prudential Regulation Authority Business Plan 2026/27
On 17 April 2026 the Prudential Regulation Authority released its 2026‑27 Business Plan, detailing four strategic priorities. It will focus on banking and insurance resilience by implementing Basel 3.1, the Strong and Simple framework and stricter operational‑resilience standards. The plan adds...
AFM Update on Non-EU Funds and Fund Managers
On 14 April 2026 the Dutch Authority for the Financial Markets (AFM) issued its fourth AIFMD II update, tightening rules for non‑EU alternative investment fund managers (AIFMs) that market funds in the Netherlands. The revision adds two jurisdictional tests: the home country must...
AFM Update on Information Disclosure Requirements for CASPs Under MiCAR
On 16 April 2026 the Dutch Authority for the Financial Markets (AFM) released a supervision report evaluating crypto‑asset service providers’ (CASPs) compliance with the EU’s MiCAR disclosure rules. The AFM identified widespread shortcomings, including misleading ads, vague risk warnings, hidden cost information,...
DNB Update on Reporting of Major ICT-Related Incidents Under DORA
The Dutch Central Bank (DNB) announced changes to DORA reporting for major ICT‑related incidents, adding a validation step that checks submissions against technical requirements. Effective mid‑April 2026, institutions will receive feedback highlighting unmet criteria. Warnings can be corrected in the...
Update on Implementation MiFID II Review
On 7 April 2026 the Dutch finance minister released an update on the delayed implementation of the MiFID II review, which was supposed to be enacted by 29 September 2025. The postponement means Dutch market operators still lack a dedicated emergency‑halt power, and the AFM...
Commission Adopts RTS Specifying What Constitutes an Equivalent Legal Mechanism that Ensures that a Residential Property Under Construction Is Completed...
On 16 April 2026 the European Commission adopted a delegated regulation that adds a regulatory technical standard (RTS) to the Capital Requirements Regulation. The RTS defines the prudential criteria for an "equivalent legal mechanism" that guarantees a residential property under construction will...
SRB Response to Commission Consultation on EU Banking Sector Competitiveness
On 16 April 2026 the Single Resolution Board (SRB) submitted its formal response to the European Commission’s consultation on the competitiveness of the EU banking sector. The SRB argued that a stronger, harmonised resolution framework is essential for banks to compete with...
New Notice in a Nutshell Briefing: PRA Fines Bank and Its Parent Company £2 Million in Connection with Prudential and...
On 23 March 2026 the UK Prudential Regulation Authority issued a final notice to The Bank of London Group Limited and its parent Oplyse Holdings Limited, imposing a £2 million (approximately $2.5 million) penalty for prudential and governance failings. The regulator found the firms...
FCA Publishes UK Short Selling Regime Policy Statement
On 16 April 2026 the FCA released Policy Statement PS26/5 outlining revisions to the UK short‑selling regime introduced under the 2025 Short‑Selling Regulations. The agency removed the per‑instrument notification requirement for market‑maker exemptions, opting for a single activity‑based notification and an annual compliance...
CPMI-IOSCO Assesses that the UK Has Implemented the PFMI but Recommends Improvements
On 16 April 2026 the BIS Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) completed their assessment of the United Kingdom’s implementation of the Principles for Financial Market Infrastructures (PFMI) for payment systems and central...
External MRELS – 2026
On 16 April 2026 the Bank of England released its 2026 approach to external minimum requirements for own funds and eligible liabilities (MRELs). The figures apply to firms with a UK‑incorporated resolution entity whose MREL exceeds the minimum capital requirement, using balance‑sheet...
AIFMD & UCITS Directive — New Obligations for Fund Managers From 16 April 2026
The EU’s AIFMD II and updated UCITS Directive become mandatory on 16 April 2026, harmonising rules for alternative investment funds across member states. Key measures include a EU‑wide loan‑origination framework, mandatory liquidity‑management tools for open‑ended AIFs, expanded delegation requirements and enhanced investor disclosures....
Ofgem – Publication of Inside Information Under REMIT Article 4: Use of Thresholds and Related Practices
On 15 April 2026, Ofgem issued a letter to wholesale energy market participants warning that the common 100 MW threshold used to decide whether outage information is inside information under REMIT Article 4 is unreliable. The regulator argues that fixed MW limits can delay...
Protecting Genetic Information Is No Joke – Australian Parliament Bans Use of Genetic Test Results in Life Insurance
On 1 April 2026 the Australian Parliament enacted the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act 2026, inserting a strict‑liability ban on insurers using "protected genetic information" for life‑insurance underwriting. The ban, effective 8 October 2026, carries penalties of...
ESMA Guidelines on the Submission of Periodic Information
On April 14, 2026, the European Securities and Markets Authority released official translations of new guidelines that govern the submission of periodic information by benchmark administrators, credit rating agencies, and market transparency infrastructures. The rules have been effective since January 1,...
Draft Delegated Regulation Specifying the Criteria for Establishing and Assessing the Effectiveness of Investment Firms’ Order Execution Policies
On 14 April 2026 the European Commission released a draft Delegated Regulation that amends MiFID II by introducing new regulatory technical standards developed by ESMA for assessing investment firms’ order execution policies. The draft repeals the 2017 Delegated Regulations 575 and 576 and sets out...
FCA Publishes Open Finance Roadmap
On 14 April 2026 the UK Financial Conduct Authority released an Open Finance Roadmap outlining its vision for a smart‑data future through 2030. The plan emphasizes boosting competition, delivering inclusive outcomes for consumers and SMEs, and driving economic growth by...
OFSI Extends Deadline in Relation to the Call for Evidence on the Ownership and Control Test in Financial Sanctions Regulations
The Office of Financial Sanctions Implementation (OFSI) has pushed back the response deadline for its call for evidence on the Ownership and Control Test in UK Financial Sanctions Regulations from 13 April to 20 April 2026. The one‑week extension gives businesses, NGOs and...
Financial Services Regulatory ESG Updater
From March 3 to April 3 2026 regulators across the UK, EU, Germany, the Netherlands, Australia and others issued a wave of ESG‑related updates. Key developments include the FCA’s new non‑financial misconduct rule slated for September 1 2026, the European Commission’s call for feedback on...
Use of AI by Asset Managers
The Dutch Financial Markets Authority (AFM) released an analysis showing AI adoption is accelerating among asset managers. Of 323 surveyed institutions, 53% already use AI or plan to within a year, with larger fund managers and proprietary traders leading the...
BoE Updates Operational Resolution Guides
On 13 April 2026 the Bank of England published an updated operational guide for transfer resolutions and revised its bail‑in resolution guide. The transfer‑resolution guide details how the BoE would move a failed firm’s shares or business to a private‑sector purchaser or...
ESMA Releases Reporting Templates and Instructions for the Active Account Requirement
On 13 April 2026 ESMA published reporting templates and detailed instructions for the Active Account Requirement (AAR) under EMIR 3. The templates guide counterparties on how to disclose counterparty information, risk exposures, and the representativeness obligation to national regulators. ESMA’s goal is to...
The Implementation of the CRD6 in Italy: Comments on Selected Items Regarding Third Country Banks
Italy’s Legislative Decree No. 208, effective 9 January 2026, implements the EU CRD6 and CRR3 reforms, imposing a branch‑establishment requirement on third‑country banks that wish to provide core banking services such as deposits, loans and guarantees. The decree outlines limited exemptions – client‑initiated...
FCA Publishes Good and Poor Practice in Relation to Improving Applications for Authorisation in the Asset Management Sector
On 9 April 2026 the FCA released a Good and Poor Practice guide outlining common shortcomings that delay or jeopardise asset‑management firms’ authorisation applications. The regulator emphasised eight focus areas, including the need for UK‑based senior management, accountable outsourcing, thorough risk assessments,...
FCA Primary Market Bulletin 62
On 8 April 2026 the FCA released Primary Market Bulletin 62, highlighting four key areas. It detailed the regulator’s findings in the Carillion plc misleading‑statement case, noting false positive disclosures and inadequate accounting controls. The bulletin warned that UK micro‑cap and small‑cap issuers...
European Commission Adopts Delegated Regulations on Disclosures and Trading Under MAR
On 8 April 2026 the European Commission adopted two Delegated Regulations amending the Market Abuse Regulation. The first regulation revises disclosure rules, exempting intermediate steps in protracted processes and establishing a non‑exhaustive list of final events that must be disclosed promptly, while...
FCA Publishes Findings in Relation to Firms’ Customer Due Diligence Processes and Controls
On 8 April 2026 the Financial Conduct Authority released a detailed report on firms’ customer due‑diligence (CDD) processes. The FCA highlighted best‑practice policies that clearly separate enhanced due diligence (EDD) from standard CDD and outline risk‑based controls, especially for politically exposed persons....
EIOPA Publishes Technical Specification for Small and Non-Complex Undertakings and Groups Criteria Under Solvency II
On 7 April 2026 EIOPA issued a technical specification that defines how small and non‑complex insurers (SNCUs) and their groups (SNCGs) are identified under the revised Solvency II regime. The document details quantitative thresholds, qualitative requirements from Articles 29a and 213a, and nine risk‑indicator calculations....
Refreshsed Foreign Financial Service Provider Regime
Australia’s Parliament has passed a new Foreign Financial Service Provider (FFSP) licensing regime, slated to commence on 1 April 2027. The legislation replaces the temporary Class Order and Limited Connection reliefs that have been extended annually since 2020. FFSPs must transition to...
Podcast | Split the Difference: Episode 19 – Prediction Markets and Event Contracts
Episode 19 of the Split the Difference podcast examines how the United States and United Kingdom regulate prediction markets and event contracts. Hosts Mark Highman, Stephan Ariyan, Hannah Meakin, and Simon Lovegrove outline the key legal distinctions, including the US...
Parliament Passes New Statutory Licensing Exemptions for Foreign Financial Service Providers
On 1 April 2026 the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Bill 2025 passed both houses of the Australian Parliament. Schedule 2 of the Bill amends the Corporations Act 2001 to create three statutory licensing exemptions for...
FCA and BoE Seek Members for Their Transaction and Post-Trade Reporting Taskforce
On 2 April 2026, the FCA and the Bank of England announced a new Transaction and Post‑trade Reporting Taskforce and opened applications for market participants. The 18‑month taskforce will be divided into three working groups—policy, strategy and architecture—to explore harmonising...
In a Nutshell – New Termination Provisions for PSR Contracts
The UK’s Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations will come into force on 28 April 2026, updating the 2015 framework. The amendments introduce mandatory notice periods and transition assistance for users when payment‑service contracts are terminated. Firms must revise...
Temporary Appointments and ODSE Amendments
On 17 March 2026 the Independent Football Regulator launched consultation CP1/26 to amend the Owners, Directors and Senior Executives (ODSE) regime introduced by the Football Governance Act 2025. The proposals introduce a 12‑week temporary‑appointment mechanism for senior‑management vacancies and update technical references such...
FOS Responds to the Mills Review
The Financial Ombudsman Service (FOS) responded on 2 April 2026 to the FCA’s Mills Review, which examined AI’s long‑term impact on retail finance. Early analysis suggests AI contributed to roughly 35% of initial assessment responses, improving consumer argument clarity but also creating...
Regulating BNPL – FCA Issues Directions and Notification Form for TPR
On 1 April 2026 the UK Financial Conduct Authority refreshed its Buy‑Now‑Pay‑Later (BNPL) webpage, issuing formal directions for the temporary permissions regime (TPR). Firms may submit a notification form to register for temporary permission starting 15 May 2026, pay a £280 fee (approximately $356),...
FCA Confirms the Increase to FOS Award Limits
The Financial Conduct Authority has approved higher award limits for the Financial Ombudsman Service, effective 1 April 2026. The maximum payout for complaints arising from actions on or after 1 April 2019 will rise to £455,000 (approximately $580,000), while older complaints will see a...
Record of the Financial Policy Committee Meeting on 27 March 2026
On 1 April 2026 the Bank of England published the record of its Financial Policy Committee meeting held on 27 March 2026. The minutes provide a detailed account of the committee’s assessment of financial‑system risks, macro‑prudential policy settings and upcoming regulatory priorities. By releasing...
BoE Systemic Risk Survey Results – H1 2026
On 1 April 2026 the Bank of England released its Systemic Risk Survey for the first half of 2026, gathering responses from 57 firms – a 66 % participation rate. Respondents expressed unchanged confidence in the stability of the UK financial system compared...
BoE and the PRA’s Response to HMT, DSIT and DBT on AI in Financial Services
On April 1, 2026 the Bank of England and the Prudential Regulation Authority issued a formal response to a joint letter from the Chancellor, the Secretary for Science, Innovation and Technology, and the Secretary for Business and Trade. The BoE/PRA pledged to...
PRA CP6/26 / FCA CP26/12: High Loan to Income Lending
On 1 April 2026 the FCA and PRA released a joint Consultation Paper proposing to scrap the 15% high loan‑to‑income (LTI) cap for individual lenders while keeping the aggregate exposure at roughly 15%. The regulators suggest firms can set their own high‑LTI...
Enhancing the Resilience of the Gilt Repo Market – BoE Discussion Paper Feedback Statement
In April 2026 the Bank of England released a feedback statement on its September 2025 discussion paper that explored reforms to strengthen the gilt repo market. Industry respondents weighed the benefits and liquidity risks of greater central clearing and mandatory...
APRA Releases Consultation on Remaking Level 3 Conglomerate Standards
On 31 March 2026, APRA issued a consultation to remake its Level 3 conglomerate prudential standards, which will sunset on 1 October 2026. The standards—3PS 310 (audit matters), 3PS 221 (aggregate risk exposures), and 3PS 222 (intra‑group transactions)—are slated for minor textual updates. APRA emphasizes that the revisions...
APRA Finalises Amendments to the Capital Treatment for Longevity Products
On 31 March 2026 APRA issued a response paper finalising amendments to the capital treatment of longevity products, introducing the optional advanced illiquidity premium (AILP). The regulator kept the proposed 45 % floor for the AILP and clarified terminology, referring to eligible contracts...
Eurosystem Publishes Strategy for Future of European Payments
On 31 March 2026 the Eurosystem released a comprehensive payments strategy that expands its existing cash and retail‑payments plans to cover wholesale, business‑to‑business and cross‑border transactions. The roadmap emphasizes a dual track: upgrading current infrastructures like the T2 real‑time gross settlement system...
PRA PS8/26: FSCS – MELL 2026/27
On 31 March 2026 the Prudential Regulation Authority released Policy Statement 8/26, finalising the Financial Services Compensation Scheme’s Management Expenses Levy Limit (MELL) for the 2026/27 fiscal year. The PRA reviewed stakeholder responses to Consultation Paper 1/26 and chose to keep the levy ceiling...
FCA PS26/3: Motor Finance Consumer Redress Scheme
On 30 March 2026 the FCA issued Policy Statement 26/3, establishing final rules for two motor‑finance consumer redress schemes covering loans from April 2007 to November 2024. The schemes split the original 17‑year period into a 2007‑14 “Scheme 1” and a 2014‑24 “Scheme 2”, with...
Superannuation Advertising Ban – Draft Regulations
On 27 March 2026 the Australian Treasury released an exposure draft of the Corporations Amendment (Ban on Advertising Superannuation Funds During Onboarding) Regulations 2026. The draft amends the Corporations Regulations 2001 to enforce a ban on advertising MySuper products to new employees during onboarding,...