In the latest episode of our Let’s talk asset management series, Andrew Lom from our New York office discusses the risks and opportunities that artificial intelligence presents to asset management.
Listen to our podcast here.
On 21 November, the Financial Conduct Authority (FCA) published a consultation paper (CP 25/32) setting out proposals to improve the UK transaction reporting regime.
Background
The transaction reporting rules in the Markets in Financial Instruments Regulation (MiFIR) were implemented in 2018 and on-shored following the Brexit transitional period on 31 December
On 21 November 2025, the European Central Bank (ECB) issued a guide that sets out how it adopts and implements the TIBER-EU framework for the threat-led penetration testing (TLPT) of significant institutions as identified for TLPT according to the Digital Operational Resilience Act (DORA).
Background
Under Articles 26 and 27
On 21 November 2025, there was published in the Official Journal of the EU, Commission Implementing Regulation (EU) 2025/2338 of 20 November 2025 amending Implementing Regulation (EU) 2016/100 laying down implementing technical standards (ITS) specifying the joint decision process with regard to the application for certain prudential permissions pursuant to Regulation (EU) No
On 20 November 2025, HM Treasury (HMT) published a draft of the The Central Securities Depositories (Amendment) (Intended Settlement Date) Regulations 2026 (the draft SI) alongside an updated policy note, Mandating T+1 settlement in the UK. HMT has also updated its webpage on accelerated settlement.
T+1 settlement
The draft SI amends
On 17 November 2025, The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025 was made together with an explanatory memorandum.
The Order amends the ancillary activities exemption set out in The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO). The amendment provides for two options for
From October 2024 to August 2025, the Australian Securities & Investments Commission (ASIC) surveilled 28 private credit funds, including listed and unlisted funds, and retail and wholesale investor funds. In ASIC Report 820: Private credit surveillance report: Retail and wholesale surveillance dated 5 November 2025 (ASIC Report 820), ASIC outlines the better
On 20 November 2025, the Australian Securities and Investments Commission (ASIC) published a speech by ASIC Commissioner Kate O’Rourke.
The speech sets out how Australia’s payments ecosystem is undergoing profound, technology‑driven transformation, with consumers and merchants embracing fast, convenient, low‑cost digital payments. This uptake suggests to ASIC high levels of consumer trust in
On 20 November 2025, the Australian Prudential Regulation Authority (APRA) issued a new System Risk Outlook report, which sets out the regulator’s twice yearly view of risks and vulnerabilities facing Australia’s financial system. The report also includes a summary of the findings from Phase 1 of APRA’s inaugural system risk stress test