On 4 March 2026, the Bank of England (BoE) issued a consultation paper on the approach to using its requirements and permissions powers to facilitate mobilisation of new central counterparties (CCPs). The consultation paper is relevant to all prospective UK CCPs seeking recognition by the BoE.
Background
The BoE published its
On February 27, 2026, the German regulator, the Federal Financial Supervisory Authority (BaFin), has partially revoked its general rulings on post‑trade transparency for trading venues and OTC trading.
The decision follows updated European regulatory requirements under the amended Delegated Regulation (EU) 2017/583. As a result, rules governing deferred publication obligations for bonds, structured
On 26 February 2026, the European Securities and Markets Authority (ESMA) issued a consultation paper on regulatory technical standards (RTS) on the post trade risk reduction (PTRR) services exemption.
Background
Regulation (EU) No 2024/2987 (EMIR 3) introduces an exemption from the clearing obligation for transactions resulting from
On 25 February 2026, the European Securities and Markets Authority (ESMA) issued a Final Report on draft technical standards amending Regulation (EU) 149/2013 to further detail the new European Market Infrastructure Regulation (EMIR) clearing thresholds regime.
Background
The Final Report follows an earlier consultation that ESMA issued last April.
Structure of
On 23 February 2026, the European Securities and Markets Authority (ESMA) issued a consultation paper 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 and in relation to certain aspects of investment policy and highly
On 20 February 2026, the European Securities and Markets Authority (ESMA) issued a Supervisory Briefing that aims to clarify and provide examples as to how compliance with the representativeness obligation should be performed and reported by counterparties in accordance with Article 7b of EMIR and Annex III of Commission Delegated Regulation (EU) 2026/305.
On 6 February 2026, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation 2026/305 of 29 October 2025 supplementing the European Market Infrastructure Regulation (EMIR) with regard to regulatory technical standards (RTS) specifying the operational conditions, the representativeness obligation and the reporting requirements related
On 26 January 2026, the Investment Association published a report in relation to T+1 Settlement Navigating the UK EU and Swiss Transition (the Report).
Summary
The Report provides a roadmap of the UK and European Union securities markets from a trade-date-plus-two (T+2) to a trade-date-plus-one (T+1) settlement cycle, currently targeted
On 26 January 2026, the UK Accelerated Settlement Taskforce (AST) issued its final Quarterly Review of 2025.
A key message in the Quarterly Review is that market participants are expected to already have project plans in place to facilitate the move to T+1 settlement by October 2027. By the end of 2026
On 21 January 2026, the Financial Stability Board (FSB) published its 2025 Resolution Report (the Report).
Overview
The Report reviews the progress achieved on enhancing crisis readiness across banks, insurers and central counterparties (CCPs) in 2025 and the FSB’s priorities for 2026 to advance the operationalisation of resolution frameworks.
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