On 20 November 2025, the Financial Stability Board (FSB) published a letter from its Chair to G20 leaders ahead of their summit on 22-23 November 2025.
In his letter FSB Chair, Andrew Bailey, refers to the challenging economic outlook, noting that the FSB is operating in a “world of considerable challenge”, and calls
Introduction
On 20 November 2025, the European Commission (Commission) published a proposal for a Regulation amending Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
The SFDR has applied since March 2021. It sets out a disclosure framework providing detailed sustainability disclosures for financial market participants and financial
On 17 November 2025, the European Commission (Commission) published a Call for evidence on a proposal to amend the application of the Basel 3 standards on market risk, otherwise known as the Fundamental Review of the Trading Book framework (FRTB).
The Capital Requirements Regulation 3 (CRR 3) provides that
On 17 November 2025, the Financial Conduct Authority updated its webpage on recognised industry codes, so that it includes the FX Global Code, the UK Money Markets Code and the Global Precious Metals Code.
On 19 November 2025, the Financial Conduct Authority (FCA) published a consultation paper (CP 25/31) on its proposed framework for introducing an equity consolidated tape (CT) in the UK to be run by a consolidated tape provider (CTP).
Overview
The FCA set out in CP 25/31 that
On 18 November 2025, the European Supervisory Authorities published the list of designated critical ICT third-party providers (CTPPs) under the Digital Operational Resilience Act (DORA). The designation process followed the methodology mandated by DORA. The designated CTPPs provide a range of ICT services to financial entities of all types and sizes
On 18 November 2025, the European Central Bank (ECB) issued the results of its Supervisory Review and Evaluation Process (SREP) for 2025 and its supervisory priorities for 2026-28. The assessment covers 105 banks under ECB supervision. It provides a review of their capital, liquidity, profitability, governance and risk management.
The headline
On 17 November 2025, the Financial Conduct Authority (FCA) issued an update on the bond consolidated tape provider (CTP).
Following the FCA’s earlier announcement on the bond CTP, the FCA states that it has filed an application with the High Court, asking it to lift the suspension on the bond consolidated
On 18 November 2025, the Australian Prudential Regulation Authority (APRA) released for consultation a draft instrument to exempt certain management employees and company secretaries from compliance with the change of ownership and control provisions of the Superannuation Industry (Supervision) Act 1993 (Cth).
The change of ownership and control provisions require persons to obtain