On 16 January 2026, the Financial Conduct Authority (FCA) published a letter (dated 19 December 2025) that it had sent to trade associations regarding the process to establish a future entity for open banking.
Background
In August 2025, the FCA published Feedback Statement 25/4: Design of the Future Entity for UK open banking
On 15 January 2026, the Prudential Regulation Authority (PRA) published ‘Dear CEO’ letters setting out its 2026 priorities in relation to the supervision of Uk deposit takers and international banks.
In these letters, which were sent to Chief Executive Officers of PRA regulated UK deposit takers and international banks active in the UK, the
On 14 January 2026, the Financial Conduct Authority, Bank of England and Prudential Regulation Authority signed a Memorandum of Understanding (MoU) with the European Supervisory Authorities to enhance cooperation and oversight of critical third parties (CTPs) that fall under the UK’s CTP regime. The MoU establishes a framework for coordinating and
On 14 January 2026, the Financial Conduct Authority (FCA) published Consultation Paper 26/3: Retail Banking Business Models data (CP26/3).
Proposals
In CP26/3 there are proposals to require certain retail banks and building societies to send to the FCA an annual regulatory reporting return with information on their business models. This will
On 13 January 2026, the G7 Cyber Expert Group (G7 CEG) issued a statement on advancing a coordinated roadmap for the transition to post-quantum cryptography in the financial sector. The statement follows an earlier statement that the G7 CEG issued in September 2024 which highlighted the benefits and risks associated with quantum computing.
On 13 January 2026, the Financial Conduct Authority and Prudential Regulation Authority issued a joint consultation paper (PRA CP1/26, FCA CP26/2) setting out the proposal for the Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) for 2026/27. The MELL covers the FSCS’ costs of operating the UK’s
Different regulators are approaching artificial intelligence (AI) in different ways. The Financial Conduct Authority (FCA) has concluded that its existing rules and guidance provide a sufficient framework for managing risk and therefore is not planning to introduce new regulations specific to AI at present. It also believes this is the best
On 12 January 2026, the International Regulatory Strategy Group (IRSG) published a report mapping how jurisdictions are approaching artificial intelligence (AI) in financial services. The report identifies where global coherence is emerging and outlining practical steps for policymakers and regulators to promote the safe and responsible innovation of AI.
Key findings
On 12 January 2026, the Financial Conduct Authority (FCA) published a new webpage, outlining its findings in relation to its assessment of how firms of different sizes and business models evaluate complex exchange traded products (ETPs), communicate key risks and monitor outcomes under the Consumer Duty.
Background
In July 2025