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
Global Regulation Tomorrow
Tracks financial services regulatory developments and provides insight and commentary
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New Briefing note: Prediction markets and event contracts: a UK perspective
Prediction markets continue to attract significant global attention. As trading volumes in prediction markets continue to grow, a number of regulatory questions are being raised across jurisdictions. In the UK, the Financial Conduct Authority and the UK Gambling Commission have…
ESMA final report – RTS on the requirements for PTRR services for the purpose of the clearing obligation exemption under EMIR
On 20 October 2026, the European Securities and Markets Authority (ESMA) issued a final report on regulatory technical standards (RTS) on the requirements for Post-Trade Risk Reduction (PTRR) services for the purpose of the clearing obligation exemption under the European…
Does CP26/34 solve anything in relation to branches? Key Themes and Practical Implications for Transaction Reporting
Introduction
It is interesting that the FCA has sought to amplify its guidance in relation to the execution of transactions by branches in CP26/34. However, there is a good argument that the new guidance creates more questions than answers…
ESMA final report on the guarantees as CCP collateral and CCP investment policy
On 19 October 2026, the European Securities and Markets Authority (ESMA) issued a final report on draft regulatory technical standards (RTS) amending Commission Delegated Regulation 153/2013 in relation to public guarantees, public bank guarantees and commercial bank guarantees as collateral…
FCA Good and Poor Practice – AI in financial services: good practice and areas for improvement
On 19 October 2026, the Financial Conduct Authority (FCA) published a new webpage setting out good practice and areas for improvement in artificial intelligence (AI) in financial services.
Examples
The examples provided by the FCA identify common themes and…
Improvement still needed in how some super funds and auditors assess and scrutinise the value of unlisted investments
By Liz Hastilow & Sam Smith
On 14 October 2026, the Australian Securities and Investments Commission (ASIC) issued the results of its second review into the financial reporting and audit of superannuation funds. In Report 841 Accounting for your super: Super fund financial reporting and audit…
Basel Committee finalises measures to address window-dressing in the G-SIB framework and consults on G-SIB methodology review
On 16 October 2026, the Basel Committee on Banking Supervision (Basel Committee) published final amendments to address window dressing in the global systemically important bank (G-SIB) framework and a consultation on the G-SIB methodology review. The final amendments follow a…
ESMA revises CSDR guidelines on standardised procedures and messaging protocols
On 16 October 2026, the European Securities and Markets Authority (ESMA) published a Final Report setting out revised guidelines under the Central Securities Depositories Regulation (CSDR) on standardised procedures and messaging protocols used between investment firms and their professional clients.…
ESMA updates MAR guidelines on the delay in the disclosure of inside information
On 16 October 2026, the European Securities and Markets Authority (ESMA) issued a Final Report setting out revised Market Abuse Regulation (MAR) guidelines on the delay in the disclosure of inside information.
Background
The Final Report follows a consultation that…