The EBA responds to the European Commission’s consultation on EU banking sector competitiveness

17 April 2026

The EBA responded to the European Commission’s consultation on strengthening the competitiveness of the EU banking sector. The authority emphasised the importance of completing the Single Market for banking, avoiding fragmentation of prudential rules and maintaining alignment with Basel III standards. It highlighted that while EU banks remain resilient, they face challenges from geopolitical developments and digitalisation, and called for regulatory simplification and greater cross-border integration.

Link

The EBA publishes draft technical package for Reporting Framework v4.3

16 April 2026

The EBA released a draft technical package for Reporting Framework v4.3, introducing updates to supervisory reporting including new ITS for third-country branches and enhancements to DPM taxonomies. The package also supports identification of entities under the new Anti-Money Laundering Authority (AMLA) framework. Feedback is invited until 10 May 2026 ahead of finalisation in June 2026.

Link

The EBA publishes report on banks’ dry-run testing of recovery plans

13 April 2026

The EBA published a report assessing banks’ dry-run testing of recovery plans, finding that regular and well-designed exercises enhance crisis preparedness and governance integration. The report highlights that more advanced institutions embed testing within management frameworks, while others treat it as a compliance exercise, and encourages stronger senior management involvement and alignment with resolution planning.

Link

The EBA publishes decision harmonising reporting of SEPA data by national authorities

10 April 2026

The EBA adopted a decision to harmonise how national authorities report SEPA credit transfer and instant payment data, centralising submissions through the EBA before onward transmission to the European Commission. The change aims to reduce administrative burden, improve consistency and support monitoring of pricing rules for instant payments.

Link

The EBA consults on major simplification of supervisory reporting framework

10 April 2026

The EBA launched a consultation proposing a significant simplification of supervisory reporting and benchmarking ITS. The proposals aim to reduce data points by around 50%, integrate stress-testing and benchmarking into regular reporting, and enhance proportionality for smaller institutions. Implementation is expected from September 2027.

Link

The EBA consults on revised guidelines for exposures to shadow banking entities

9 April 2026

The EBA launched a consultation to revise guidelines on limits to exposures to shadow banking entities, aligning with the updated large exposures framework. Proposed changes include shifting the limit base to Tier 1 capital and removing the materiality threshold, while maintaining strong governance expectations.

Link

The EBA publishes list of known Data Point Model (DPM) issues

9 April 2026

The EBA announced it will publish a regularly updated list of known DPM issues, including workarounds and resolution timelines. The initiative aims to improve transparency, reporting quality and operational efficiency for institutions.

Link

ESAs publish Spring 2026 Joint Risk Update

27 March 2026

The Joint Committee of the ESAs highlighted that risks to the EU financial system remain elevated due to geopolitical tensions, higher interest rates and cyber risks. While the sector remains resilient, the ESAs pointed to vulnerabilities including asset repricing, liquidity risks and emerging risks in private markets, and urged firms to strengthen risk management frameworks.

Link

European Securities and Markets Authority

ESMA publishes reporting templates for Active Account Requirement under EMIR 3

13 April 2026

ESMA released reporting templates and instructions for the Active Account Requirement (AAR) under EMIR 3, aiming to harmonise reporting by clearing participants. The first submission is due 31 July 2026, with reporting required on a semi-annual basis.

Link

ESMA clarifies expectations for EU consolidated tapes implementation

1 April 2026

ESMA published a Q&A to support the implementation of EU consolidated tapes, providing guidance to trading venues and data contributors. The authority encouraged early engagement with consolidated tape providers and highlighted the need for robust data transmission and confidentiality arrangements.

Link

ESMA postpones rollout of new commodity derivatives reporting system

27 March 2026

ESMA announced the postponement of a new commodity derivatives position reporting system following testing issues. Market participants should continue using the existing system until further notice.

Link

Bank of England / Prudential Regulation Authority

PRA publishes Business Plan 2026/27

April 2026

The PRA published its Business Plan outlining key priorities, including implementation of Basel 3.1, development of the Strong and Simple framework, and enhancements to liquidity risk, operational resilience, climate risk and data capabilities. The plan also highlights continued focus on simplification and supervisory effectiveness.

Link

Bank of England finalises changes to resolution reporting and disclosure requirements

26 March 2026

The Bank of England finalised reforms to resolution reporting and disclosure, reducing frequency for smaller firms and simplifying MREL reporting. From April 2026, firms with less than £100bn in retail deposits will move to biennial resolvability assessments, reducing burden while maintaining resolvability standards.

SEC and CFTC propose amendments to Form PF to reduce reporting burdens

20 April 2026

The SEC and CFTC jointly proposed amendments to Form PF, raising reporting thresholds and simplifying requirements for private fund advisers. The changes aim to reduce reporting burden while maintaining oversight of systemic risk in private markets.

Link

The core elements break down like this:

First proposal targets the biggest international banks with a unified risk-based capital approach. It wraps up the remaining Basel III requirements, drops duplicate calculations, and fine-tunes credit, market, and operational risk measures. Smaller banks can opt in, though market risk changes only hit firms with substantial trading books.

Second proposal focuses on traditional lenders beyond the very largest banks. It eases capital rules for mortgage origination and servicing to encourage that activity, with benefits extending to community banks. Some larger banks would also start folding unrealised gains and losses from certain securities into their capital over a transition period.

Third proposal from the Fed refines the systemic risk score that determines extra capital buffers for the most complex banks.

Regulators expect a modest dip in capital needs for large banks and a bigger drop for smaller ones focused on core lending. Even so, overall levels stay well above pre-crisis standards.

For US banks, this means revisiting balance sheet plans, data systems, and reporting workflows to handle the shift. Comment deadline is 18 June 2026, so firms have time to assess impacts.

Suade helps banks get ready through automated regulatory calculations, scenario testing, and flexible data platforms that adapt as rules evolve. Reach out if you want to talk through your Basel prep.

US Basel Endgame: From 2023 Shock to 2026 Reset

Back in July 2023, US regulators dropped a bombshell proposal to implement the final pieces of Basel III – the so-called "endgame" reforms. Aimed at banks with over $100 billion in assets, it promised sharper risk measurement for credit, market, operational and CVA risks. Industry analysis pegged the capital hit at 16-20% for the largest firms, with G-SIBs facing up to 30% in some areas like trading books. Banks pushed back hard, arguing it would crimp lending, squeeze markets and put US firms at a disadvantage against global peers already softening their own implementations.

Fast forward to March 2026. Thursday's announcement marks a full reset. Three proposals now target simplification and recalibration over raw capital hikes. The first covers the biggest international banks with a single risk-based framework that folds in Basel III's remaining elements and ditches duplicate calculations. Credit, market and operational risk get refined – market risk mainly for active traders. The second eases rules for traditional lending at smaller banks, cutting disincentives for mortgages and servicing, while requiring some larger players to bake unrealised securities gains and losses into capital after transition. The Fed's third tweaks the systemic surcharge for complex G-SIBs.

Regulators now forecast a modest capital drop for large banks and a bigger one for traditional lenders, against a backdrop still far stronger than pre-2008. Why the pivot? Industry lobbying worked alongside political shifts – new agency leadership in 2025 signalled a rethink, prioritising growth and competitiveness over strict Basel fidelity. Comment period runs to 18 June 2026, giving banks breathing room to model impacts.

For US banks, this softens the blow but keeps pressure on. Balance sheets may expand with less constraint, yet firms must overhaul data pipelines, models and reporting for the new risk weights and unified approach. Cross-border groups face added complexity as UK and EU timelines diverge further.

Suade has been tracking Basel variants across jurisdictions. Our platform automates regulatory calculations, runs what-if scenarios on revised RWAs and stress tests capital under multiple outcomes. Banks using our tools can test these proposals now, spot binding constraints and build workflows that scale without full rebuilds each time rules shift.

The endgame isn't over – it's just getting more practical.

Get in touch with a Suade RegTech expert, to see how we can help your team prepare.

Agencies propose modernising the regulatory capital framework

19 March 2026

The Federal Reserve Board, FDIC and OCC jointly published proposals to modernise the regulatory capital framework. The first proposal implements remaining Basel III standards for large internationally active banks, enhances risk sensitivity and streamlines calculations by eliminating the existing internal model approach. The second proposal adjusts capital requirements for smaller banks, better aligning them with risk by modifying treatment of mortgages and requiring large banks to reflect unrealised gains and losses on certain securities. A third Fed-only proposal refines the method for determining global systemically important bank (G-SIB) surcharges. Overall, capital requirements would decrease modestly but remain above pre-crisis levels. Comments are due by 18 June 2026.

Link

U.S. Securities and Exchange Commission (SEC)

SEC/CFTC interpretive guidance on crypto assets

17 March 2026

The SEC and the CFTC jointly issued interpretive guidance clarifying when crypto assets and transactions constitute securities under federal securities laws. The guidance provides a token taxonomy explaining how certain crypto assets may be investment contracts and how they can transition to non-security status. It addresses topics such as airdrops, mining, staking and wrapped tokens and aims to harmonise application of securities and commodities laws. SEC Chair Paul Atkins and CFTC Chair Michael Selig said the guidance gives market participants greater clarity and supports responsible innovation.

Link

SEC publishes data on public and private offerings and related markets

17 March 2026

The SEC’s Division of Economic and Risk Analysis released updated statistics and interactive charts covering initial public offerings, follow-on offerings, corporate bond offerings, Regulation A and D transactions, crowdfunding activity, municipal advisors, transfer agents and securities-based swap dealers. The data show increases in IPOs and other offerings in 2025 and are intended to inform regulators, investors and issuers about capital-raising trends.

Link

Proposed amendments to Exchange Act Rule 15c2-11

16 March 2026

The SEC proposed amendments clarifying that Exchange Act Rule 15c2-11 — which requires broker-dealers to review and maintain information about issuers before quoting OTC securities — applies only to equity securities and not to debt or other securities. The proposal aims to ensure the rule is tailored to the asset class and reduce unnecessary burdens.

Link

U.S. Department of the Treasury

Treasury launches Artificial Intelligence Innovation Series

23 March 2026

The U.S. Treasury’s Artificial Intelligence Innovation Series, led by the Financial Stability Oversight Council and the Treasury’s AI Transformation Office, will convene regulators, financial institutions and technology companies to explore AI use cases in financial services such as fraud detection, cybersecurity, underwriting and risk management. Treasury Secretary Scott Bessent said embracing AI is essential for economic security and that the initiative will help ensure governance and regulatory frameworks evolve with technological advances.

Link

EU banking sector enters period of geopolitical uncertainty from a position of strength

23 March 2026

Publishing its Q4 2025 Risk Dashboard, the EBA reported that EU/EEA banks entered a period of geopolitical uncertainty with strong capitalisation and liquidity. The dashboard showed the average fully loaded CET1 ratio remained robust at 15.6 %, return on equity was 8.9 % in 2025, and the non-performing loan ratio hit a record low of 1.7 %. Banks’ direct exposures to the Middle East were limited, although sovereign exposures to the US were high. The EBA noted that capital buffers and liquidity coverage ratios were well above regulatory minima, and profitability increased despite rising funding costs. The EBA also introduced a new CRR 3/CRD 6 dashboard to monitor the implementation of upcoming Basel III reforms.

Link

Final draft amending RTS to shorten prior-permission timeline for reductions in own funds

19 March 2026

The EBA issued final draft amendments to the Regulatory Technical Standards on own funds and eligible liabilities. The changes shorten the maximum time authorities may take to decide on banks’ requests to redeem or repurchase instruments qualifying as own funds or eligible liabilities from four months to three months, reflecting supervisors’ greater experience with these reductions. The EBA said the adjustments reduce regulatory burden while preserving prudential safeguards and align the framework with recent legislative developments.

Link

The EBA issues revised list of ITS validation rules

17 March 2026

The European Banking Authority (EBA) issued today an updated list of validation rules under its Implementing Technical Standards (ITS) on supervisory reporting. The revised package identifies rules that (i) have been deactivated due to inaccuracies or IT-related issues, (ii) have been reactivated, or (iii) have undergone a severity status change.

In addition, the EBA has released a small validation rules package, which includes:

• a micro taxonomy package and
• Data Point Model (DPM) validation rules updates scripts.

LinkConsultation on regulatory products for Initial Margin Model Authorisation

17 March 2026

The EBA launched a consultation on draft Guidelines and draft RTS for Initial Margin Model Authorisation (IMMA) under EMIR 3. The proposals describe the information firms must provide when seeking authorisation to use their own initial margin models for non-centrally-cleared derivatives and set out how authorities should assess these applications. The rules include requirements for large groups whose aggregated notional amount exceeds €750 billion, specify the use of pro-forma models and sensitivity analysis, and aim to ensure harmonised and rigorous authorisation processes. Stakeholders have until 17 June 2026 to comment.

Link

European Securities and Markets Authority (ESMA)

Consultation on simplifying guidelines for delayed disclosure of inside information

19 March 2026

ESMA launched a consultation on amendments to its Guidelines on delay in disclosure of inside information under the Market Abuse Regulation. The consultation proposes to simplify the examples of legitimate interests that may justify delaying disclosure and to remove outdated provisions. The changes seek to align the guidelines with the EU Listing Act and reduce complexity.

Link

Statement supporting smooth implementation of the Listing Act

18 March 2026

ESMA published a statement to help national competent authorities and market participants transition to the EU Listing Act. The statement explains how registration documents approved under the existing Prospectus Regulation should be treated after the Listing Act takes effect and provides guidance on transitional arrangements for follow-on and growth issuance prospectuses. ESMA aims to ensure consistent application and reduce legal uncertainty during the shift to the new regime.

Link

Actions to simplify the retail investor journey

12 March 2026

Following a call for evidence in 2025, ESMA published a report on actions to make retail investing more accessible. The report highlights the need to simplify disclosure documents, reduce information overload, streamline suitability and appropriateness assessments, and simplify sustainability-preference requirements. ESMA emphasised consumer testing and cooperation with national authorities and stakeholders to improve the retail investor experience.

Link

EU financial markets enter 2026 amid high-risk environment

11 March 2026

ESMA’s first Risk Monitoring Report of 2026 warned that markets face high risks due to geopolitical tensions, elevated equity valuations and uncertain economic outlook. ESMA observed increased price correlations that raise contagion risks and noted that cyber threats and market volatility remain elevated. The report urges market participants to maintain disciplined risk management and underlines that the risk outlook remains skewed to the downside.

Link

Deutsche Bundesbank

German balance of payments for January 2026

13 March 2026

The Bundesbank reported that Germany’s current account surplus was €17.1 billion in January 2026, down from December 2025. The goods account surplus increased due to higher receipts and lower expenditure, while the surplus in primary income declined because of lower portfolio investment income. Invisible transactions (services and secondary income) recorded a deficit, mainly from high payments. On the financial account, Germany recorded net capital imports as residents increased foreign liabilities through trade credits and portfolio investments.

Link

Bundesbank’s Central Office to move to a new location

11 March 2026

The Bundesbank’s Executive Board decided to purchase a property in Frankfurt am Main to serve as its future Central Office. According to the press release (not fully available in the citation), the decision followed a cost-efficiency analysis and aims to consolidate the bank’s central functions in a modern facility. Further details on timing and location were not provided.

Link

BaFin (Federal Financial Supervisory Authority, Germany)

Fine against a.i.s. AG for delayed half-yearly report

23 March 2026

BaFin fined a.i.s. AG €112,000 for not publishing its 2024 half-year financial report within the prescribed timeframe. BaFin noted that the issuer had already missed publication deadlines in the past and stressed the importance of timely reporting to protect investors.

Link

Fine against aap Implantate AG for delayed financial reporting

18 March 2026

BaFin imposed an administrative fine of €176,400 on aap Implantate AG for failing to publish its annual financial report and the non-financial statement for fiscal year 2023 and the 2024 half-year financial report within the statutory deadlines. BaFin reiterated that issuers must comply with financial reporting obligations to ensure market transparency.

Link

Bank of England / Prudential Regulation Authority (PRA)

Policy statement on operational incident and third-party reporting (PS7/26) and supervisory statement SS1/26

18 March 2026

The PRA published PS7/26 and accompanying SS1/26, finalising new rules and expectations for operational incident reporting and notification of material third-party arrangements. The policy will require banks, building societies, PRA-designated investment firms and insurers to report material operational incidents and provide information on critical third-party arrangements. The PRA plans to align reporting templates with those of the Financial Conduct Authority and the Bank of England and excludes small credit unions from the rules. SS1/26 sets supervisory expectations and takes effect from 18 March 2027.

Link

Consultation on modernising the liquidity policy framework (CP5/26)

17 March 2026

The PRA released CP5/26 proposing targeted reforms to modernise the UK’s prudential liquidity framework. The consultation responds to lessons from recent liquidity stresses and digital banking developments, including the 2023 Silicon Valley Bank collapse. Proposals include enhancing stress-testing requirements, updating firms’ use of liquid asset buffers, clarifying treatment of central bank facilities and collateral, and ensuring proportionality for smaller firms. The aim is to strengthen firms’ resilience while removing obsolete rules.

Link

HM Treasury (United Kingdom)

Government to improve support for affordable debt repayments

20 March 2026

The UK government released its Debt Management Strategy 2026-2030, pledging to use better data and early engagement to help individuals repay government debt in an affordable way while tackling fraud. The strategy aims to prevent people falling into arrears, resolve existing debts fairly and improve departmental skills and technology. HMT said repayment plans will be tailored to individual circumstances and emphasised a firm approach to fraud and non-payment.

Link

Federal Reserve Board announces it will hold a hybrid public outreach meeting on Thursday, March 26, as part of its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA)

19 February 2026

The Federal Reserve announced that it will hold a hybrid public outreach meeting on 26 March 2026 as part of its review of regulations under EGRPRA. The review is intended to identify outdated, unduly burdensome or otherwise unnecessary regulatory requirements applicable to supervised institutions.

Link

Following earlier actions to remove reputation risk from its supervision of banks, Federal Reserve Board requests comment on proposal to codify that removal

23 February 2026

The Federal Reserve requested comment on a proposal to codify the removal of “reputation risk” from its supervision of banks. The proposal reiterates the Board’s policy that supervisory decisions should focus on material financial risks and not penalise institutions for serving lawful customers or activities.

Link

Agencies clarify the capital treatment of tokenized securities

5 March 2026

The Federal Reserve, together with the FDIC and the OCC, issued guidance clarifying that eligible tokenized securities should generally receive the same capital treatment as their non-tokenized form under the capital rule. The agencies also stressed that the capital framework is technology-neutral and that banks should apply sound risk management to these exposures.

Link

Federal Reserve Board announces termination of enforcement action with Wells Fargo

5 March 2026

The Federal Reserve announced the termination of its 2018 enforcement action against Wells Fargo after determining that the bank had met all required conditions. The action had focused on governance and risk management improvements, and the Fed said the required remediation work had now been completed.

Link

U.S. Securities and Exchange Commission

SEC Announces 45th Annual Small Business Forum to Improve Capital-Raising Policy

13 February 2026

The SEC announced that it will host its 45th Annual Government Business Forum on Small Business Capital Formation on 9 March 2026. The event is intended to gather views from across the market on how to improve policy affecting the way entrepreneurs, small businesses and smaller public companies raise capital.

Link

SEC Proposes Amendments to Reduce Burdens in Reporting of Fund Portfolio Holdings

18 February 2026

The SEC proposed amendments to Form N-PORT aimed at reducing reporting burdens on registered investment companies. The proposal would give funds an additional 15 days to file, reduce the frequency of public portfolio disclosure from monthly to quarterly, and streamline or remove certain reporting items, while separately extending compliance dates for Names Rule-related reporting requirements.

Link

SEC Announces Roundtable on Private Markets Valuation As Retail Investor Access Accelerates

26 February 2026

The SEC announced a roundtable to discuss private market valuations and responsible retailization as retail exposure to alternative investments becomes more common. The event is intended to explore valuation challenges, investor protection issues and governance considerations as private market assets increasingly migrate into publicly offered vehicles.

Link

SEC, FSA Hold Spring Financial Regulatory Dialogue

27 February 2026

The SEC and Japan’s Financial Services Agency held their Spring Financial Regulatory Dialogue in Tokyo. The discussions covered recent market developments, strategic priorities and a range of regulatory and supervisory matters, including crypto and digital assets, with both authorities highlighting the importance of continued cross-border cooperation.

Link

SEC Announces Roundtable on Options Market Structure Reform

5 March 2026

The SEC announced that it will host a roundtable on 16 April 2026 to discuss listed options market structure. The discussion will focus on competition in a quote-driven market, customer experience, and the opportunities and challenges associated with the continued growth of the U.S. listed options market, particularly among retail investors.

Link

U.S. Department of the Treasury

Remarks: A Reset on Liquidity Regulation

3 March 2026

In remarks on liquidity regulation, Treasury argued that the post-crisis liquidity framework should be revisited in light of changes in markets and recent stress episodes. The speech highlighted concerns around the usability of liquidity buffers, discount window stigma and the need to better align liquidity regulation with the lender-of-last-resort function.

Link

Treasury Seeks Public Input on the U.S. National Strategy for Financial Literacy – Comments Due April 6

6 March 2026

The Treasury, through the Financial Literacy and Education Commission, invited public input on the update to the U.S. National Strategy for Financial Literacy. The request for input seeks views on national priority areas and best practices to improve financial literacy and support better saving and investment outcomes.

Link

The EBA publishes final Guidelines on proportionate retail diversification methods under the standardised approach for credit risk

13 February 2026

The European Banking Authority (EBA) published final Guidelines on proportionate retail diversification methods under the standardised approach for credit risk. The Guidelines provide a harmonised framework for assessing whether retail portfolios are sufficiently diversified to qualify for preferential retail treatment, while also aiming to ensure a proportionate application for smaller institutions.

Link

The EBA responds to the Commission’s proposed amendments to the draft technical standards on equivalent legal mechanism

26 February 2026

The European Banking Authority (EBA) published its response to the European Commission’s proposed amendments to the draft technical standards on equivalent legal mechanism for unfinished residential property exposures. The EBA warned that the proposed changes could weaken prudential safeguards and reduce incentives for appropriate completion guarantees, and therefore urged the Commission not to adopt them as proposed.

Link

The EBA publishes final Guidelines on instruments for the capital endowment requirement for third-country branches

2 March 2026

The European Banking Authority (EBA) published final Guidelines specifying the instruments that third-country branches may use to meet the capital endowment requirement under the Capital Requirements Directive (CRD). The Guidelines clarify which financial instruments are eligible and establish operational expectations to ensure those instruments are readily available when needed in resolution or winding-up scenarios. They also confirm that certain government and supranational securities with a 0% risk weight may be used.

Link

The EBA sets out harmonised reporting standards to enhance oversight of third-country branches

5 March 2026

The European Banking Authority (EBA) published final standards establishing a harmonised supervisory reporting framework for third-country branches operating in the EU. The framework introduces standardised templates covering branch-level financial and regulatory information as well as head-undertaking data, and adopts a proportionate approach so that smaller and less complex branches report a reduced data set while larger branches provide additional prudential information.

Link

European Securities and Markets Authority

ESMA publishes statement supporting the smooth implementation of the Listing Act

18 February 2026

The European Securities and Markets Authority (ESMA) published a statement to support the smooth implementation of the Listing Act, giving practical guidance to national competent authorities, issuers and advisers on the revised prospectus framework. The statement aims to help firms navigate the transitional period and reduce unnecessary complexity as the new regime is implemented.

Link

ESMA consults on MAR Guidelines on delay in the disclosure of inside information

19 February 2026

The European Securities and Markets Authority (ESMA) launched a consultation on proposed amendments to its Guidelines on delay in the disclosure of inside information under the Market Abuse Regulation (MAR). The proposals aim to simplify the existing guidance and align it with changes introduced by the Listing Act, including revisions to the examples of legitimate interests that may justify delayed disclosure.

Link

ESMA simplifies MiFID II / MiFIR obligations on market data

23 February 2026

The European Securities and Markets Authority (ESMA) withdrew its guidelines on MiFID II / MiFIR obligations on market data with immediate effect. ESMA said the decision reflects its commitment to simplifying rules and reducing unnecessary compliance burdens, and aligns the framework with the newly applicable RTS on making market data available to the public on a reasonable commercial basis.

Link

ESMA issues a supervisory briefing on algorithmic trading

26 February 2026

The European Securities and Markets Authority (ESMA) issued a supervisory briefing to support consistent supervision of firms engaged in algorithmic trading under MiFID II. The briefing focuses on areas where supervisory practices have diverged, including pre-trade controls, governance arrangements, testing frameworks and outsourcing of algorithmic trading systems.

Link

ESMA publishes the results of the annual transparency calculations for equity and equity-like instruments

26 February 2026

The European Securities and Markets Authority (ESMA) published the results of its annual transparency calculations for equity and equity-like instruments. The results determine liquidity assessments, average daily turnover and the applicable tick-size regime, and will be used by market participants and national competent authorities for the relevant transparency requirements under MiFIR.

Link

Deutsche Bundesbank

Bundesbank: loss for the year more than halved – balance sheet is sound

5 March 2026

The Deutsche Bundesbank reported that its loss for 2025 more than halved compared with the previous year, while emphasising that its balance sheet remains sound. The decline in losses reflects improving profitability, although the Bundesbank noted that the financial burden from past monetary policy measures remains significant and is expected to continue subsiding only gradually.

Link

Bank of England

CP2/26 – Reforms to securitisation requirements

17 February 2026

The Prudential Regulation Authority (PRA) published a consultation paper proposing reforms to the UK securitisation framework. The proposals aim to simplify the regime while maintaining prudential safeguards, including changes to due diligence expectations, risk retention options, and reporting and transparency requirements.

Link

CP3/26 – PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime

19 February 2026

The Prudential Regulation Authority (PRA) published a consultation paper proposing amendments to its rules to reflect HM Treasury’s intended Overseas Prudential Requirements Regime. The proposals are designed to restate and modify certain existing CRR equivalence provisions in legislation and clarify the prudential treatment of exposures to institutions in recognised equivalent jurisdictions.

Link

PS5/26 – Credit Union Service Organisations

20 February 2026

The Prudential Regulation Authority (PRA) published a policy statement allowing UK credit unions to invest in Credit Union Service Organisations (CUSOs). The change is intended to support greater operational efficiency and collaboration in the credit union sector, while also introducing safeguards around permitted activities and supervisory expectations.

Link

CP4/26 – UK Solvency II Own Funds: Updates and fixes to rules and expectations

25 February 2026

The Prudential Regulation Authority (PRA) published a consultation paper proposing targeted updates and fixes to the UK Solvency II Own Funds framework. The proposals include restating remaining relevant EIOPA guidelines into PRA supervisory statements and making targeted changes intended to improve clarity and consistency in the UK own funds regime.

Link

Prudential Regulation Authority statement on the life insurance stress test in 2028

27 February 2026

The Prudential Regulation Authority (PRA) confirmed that it remains committed to regular life insurance stress testing and plans to launch the next life insurance stress test in 2028. The statement indicates that the PRA will continue to use stress testing as part of its ongoing supervision of the life insurance sector.

Link

HM Treasury

Consultation: The Appointed Representatives Regime

12 February 2026

HM Treasury launched a consultation on proposed changes to the legislative framework for Appointed Representatives. The consultation seeks views on reforms intended to strengthen oversight of the regime and improve the regulatory framework governing unauthorised firms acting on behalf of authorised principals.

Link

Money Laundering Advisory Notice: High Risk Third Countries

26 February 2026

HM Treasury updated its Money Laundering Advisory Notice on high-risk third countries following the February 2026 FATF updates. The notice reminds firms in the UK regulated sector that they must apply enhanced customer due diligence in relation to jurisdictions identified as presenting elevated money laundering and terrorist financing risks.

Link

HM Treasury Market Engagement Group

9 March 2026

HM Treasury published the terms of reference for its new Market Engagement Group, a senior-level forum for financial market participants to share views on UK-related developments in financial markets, including gilts and sterling, with the Chancellor. The paper also sets out membership criteria and the application process for participants.

Link