On 26 October 2026, the Bank of England (BoE) and Financial Conduct Authority (FCA) jointly published a report on artificial intelligence (AI) in UK finance services (the Report).
Background
The BoE and FCA conducted a fourth survey on AI and machine learning in UK financial services. The Report
Introduction
On 22 October 2026, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published consultation papers[1] setting out their long-awaited Phase 2 proposals for reforming the Senior Managers and Certification Regime (SM&CR). Together, the proposals represent the most substantial change to the SM&CR since it
On 23 October 2026, the Financial Conduct Authority (FCA) published Handbook Notice 145.
This Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under their legislative and other statutory powers on 24 September 2026 and 22 October 2026.
On 24 September 2026, the FCA
On 23 October 2026, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2026/1763 of 13 July 2026 amending the regulatory technical standards (RTS) laid down in Delegated Regulations (EU) 2017/583 as regards transparency requirements for trading venues and investment firms in respect of derivatives
On 22 October 2026, the European Securities and Markets Authority (ESMA) announced that it had updated its Questions and Answers (Q&As) on market structure under the Markets in Financial Instruments Directive II, the Market Abuse Regulation and the Short Selling Regulation, removing outdated, duplicative and no longer relevant guidance as part of its
On 22 October 2026, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) issued consultation papers setting out proposed reforms to the Senior Managers and Certification Regime (SM&CR). The FCA published Consultation Paper 26/37: Senior Managers and Certification Regime (SM&CR) Review: Phase 2 (CP26/37). The PRA
On 21 October 2026, the Australian Securities and Investments Commission (ASIC) made the legislative instrument that will increase the net tangible assets (NTA) requirement for responsible entities of registered managed investment schemes. The legislative instrument is ASIC Corporations (Amendment) Instrument 2026/708 (NTA Instrument).
Earlier announcement
On 30 July 2026
On 22 October 2026, there was published a statutory instrument (SI) The Building Societies Act 1986 (Assimilation to Company Law and Changes to Funding Limit) Order 2026 (the Order).
Background
The Building Societies Act 1986 (the Act) provides the legislative foundation for the business model of building societies, which are mutually
Introduction
It is interesting that the FCA has sought to amplify its guidance in relation to the execution of transactions by branches in CP26/34. However, there is a good argument that the new guidance creates more questions than answers when read alongside the guidance contained in PS26/15.
Whilst the FCA has provided useful