On 21 October 2026, the Australian Securities and Investments Commission (ASIC) made the legislative instrument that will increase the net tangible assets (NTA) requirement for responsible entities of registered managed investment schemes. The legislative instrument is ASIC Corporations (Amendment) Instrument
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The Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026
On 21 October 2026, The Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026 were made.
Background
The UK Capital Requirements Regulation (UK CRR) was revoked by the Financial Services and Markets Act 2023 subject to commencement by…
The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026
On 22 October 2026, there was published a statutory instrument (SI) The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026 (the Order).
Background
The Building Societies Act 1986 (the Act) provides the legislative…
European Parliament and Council reach agreement on securitisation framework review
On 21 October 2026, the European Parliament and the Council announced that they had reached agreement on the main parts of the review of the EU securitisation framework. The agreed compromise is a key step in the legislative process, which…
European Parliament progresses negotiations on MISP package
Following the adoption of the negotiating position of the Council, the legislative review of the Market Integration and Supervision Package (MISP) is progressing in the European Parliament as well. The European Parliament Economic and Monetary Affairs (ECON) Committee is currently…
FCA publishes User Guide in relation to applications and notifications for UK Authorised Funds
On 22 October 2026, the Financial Conduct Authority (FCA) published a user guide in relation to applications and notifications for UK Authorised Funds.
Background
The FCA sets out that this guide is suitable for the following applications:
- Applying for a
…
PSR publishes Specific Direction 17 (Confirmation of Payee)
On 22 October 2026, the Payment Systems Regulator (PSR) published Specific Direction 17 (Confirmation of Payee) (SD17).
The PSR introduced Confirmation of Payee (CoP) requirements through Specific Direction 10 in 2019, updated them through Specific Direction 11 in 2022, and…
FCA CP26/36 – Cryptoasset perimeter guidance
On 21 October 2026, the FCA published Consultation Paper 26/36: Cryptoasset perimeter guidance (CP26/36).
Background
From 25 October 2027, the Financial Services and Markets Act (FSMA) 2000 (Cryptoassets) Regulations 2026 will introduce new regulated activities for cryptoassets into the FCA’s…
FCA GC26/7: Decentralised finance guidance
On 21 October 2026, the Financial Conduct Authority (FCA) issued Guidance Consultation 26/7: Decentralised finance guidance (GC26/7).
Background
The FCA is aware that firms are increasingly using decentralised finance (DeFi) to provide financial services. It is now consulting on non-Handbook…
New Briefing note: The FIA’s European agent-trustee model: a new era for client clearing in Europe
The FIA’s European Agent-Trustee Model (EATM) represents one of the most significant recent developments in the European OTC derivatives clearing market. Launched at LCH Ltd in December 2025, the EATM offers clients and clearing members an alternative to the principal-to-principal…