On 30 September 2025, the Prudential Regulation Authority (PRA) issued a Dear Chief Financial Officer Letter to selected PRA-regulated deposit-takers providing thematic feedback from the PRA’s review of written auditor reports received in 2025 covering IFRS 9 expected credit loss accounting (ECL) and accounting for climate risk.
The PRA’s focus this
On 25 September 2025, HM Treasury (HMT) issued a consultation and call for evidence on the UK’s Commercial Credit Data Sharing (CCDS) scheme.
The government committed to consult on the CCDS scheme at Autumn Budget 2024, to assess potential enhancements.
CCDS scheme
CCDS is an initiative dating back to 2013. It
On 22 September 2025, the Bank of England (BoE) issued a Policy Statement, Expanding mandatory ISO 20022 enhanced data in CHAPS from 2027.
In the Policy Statement the BoE sets out its position on expanding its mandatory ISO 20022 enhanced data requirements for CHAPS from November 2027, reflecting feedback to an earlier
On 22 September 2025, the Prudential Regulation Authority (PRA) published Consultation Paper 21/25 – Future banking data review: Deletion of banking reporting templates (CP21/25).
Background
The proposals in CP21/25 are the first set of deliverables under the Future Banking Data programme which is intended to deliver a tangible cost reduction in
On 3 September 2025, the Bank of England (BoE) published a speech by Sarah Breeden (Deputy Governor, Financial Stability) entitled Building trust and supporting innovation in the multi-moneyverse.
In her speech Sarah Breeden sets out her vision for a ‘multi-money’ system where different forms of money including traditional and tokenised commercial bank
On 7 August 2025, the Financial Conduct Authority (FCA) published a new webpage on wholesale banks supervision.
The webpage sets out in one place the FCA findings on multi-firm reviews into share buybacks, conflicts of interest (registers and breaches, gifts and entertainment), off-channel communications and transaction governance. The webpage also covers inside information
In the latest episode of Global Regulation Tomorrow Plus, Hannah Meakin, Rachel Smith, Georgia Karamani and Simon Lovegrove consider the Financial Conduct Authority’s consultation paper, CP25/19, which proposes changes to the ancillary activities test.
Listen to the episode here.
On 29 July 2025, the Bank of England (BoE) issued a consultation paper ‘Proposal to extend RT2 and CHAPS settlement hours (phase 1)’.
Background
The renewed Real Time Gross Settlement service, RT2, went live on 28 April 2025.
The introduction of RT2 provides a strong, open platform for innovation and growth, and
In the latest episode of Global Regulation Tomorrow Plus we discuss the Financial Conduct Authority’s (FCA) expansion of the Conduct Rules (COCON) to non-banks, the evolving expectations around workplace culture, and the practical implications for firms’ policies and procedures including some next steps that firms should be considering.
Listen to this
On 14 July 2025, the Bank Recovery and Resolution (Amendment) Regulations 2025 were made.
These Regulations come into force on 1 January 2026 and make certain changes to the Bank Recovery and Resolution (No. 2) Order 2014 (the 2014 Order) which relate to the requirement for the Bank of England (BoE) to