Published

On March 30, 2026, Slovenia's Ministry of Finance published a draft proposal for amendments to the Law on the Prevention of Money Laundering and Terrorism Financing (ZPPDFT - 2D). The draft legislation aims to strengthen Slovenia's anti-money laundering and counter-terrorism financing (AML/CTF) framework. A key development is the extension of immediate, direct, unfiltered and free access to EU-level bodies, namely the European Public Prosecutor's Office, the European Anti-Fraud Office, Europol and Eurojust. The European Authority for the Prevention of Money Laundering and Terrorist Financing will also have access when conducting supervisory activities. The draft law also specifies a list of natural and legal persons who will not be required to demonstrate a legal interest, as this will be deemed established by virtue of their function or activity. The Ministry of Finance is seeking public consultation on the proposed changes to ensure comprehensive stakeholder engagement before finalisation. The amendments form part of Slovenia's ongoing efforts to enhance compliance with international AML/CTF standards and regulatory requirements. Feedback and comments are welcome up until April 30, 2026. Following the comment deadline, the proposal is scheduled to progress through government committee review in the second quarter of 2026, with anticipated government approval also targeted for the second quarter of 2026. The law is expected to enter into force in the third quarter of 2026.

On March 30, 2026, the National Bank of Ukraine (NBU) imposed enforcement measures against Smartiway Ukraine, comprising a fine of UAH11,641,600 (approximately €231,414) and a written warning. The Committee on Supervision and Regulation of Non-Banking Financial Services Markets adopted these measures following a scheduled inspection conducted by the NBU's Inspection Department. The fine was imposed for violations of several Ukrainian laws and regulations, including the Law on Consumer Credit , the Law on Financial Services and Financial Companies , the Law on the Organisation and Circulation of Credit Histories, and provisions governing consumer credit service delivery, loan agreements and ethical conduct requirements when managing overdue debt. The written warning addressed separate violations of the Law on Consumer Credit, provisions on licensing and registration of financial service providers, and authorisation requirements for financial service providers. Smartiway Ukraine is required to pay the fine within one month from the date the decision takes effect. The company must also take corrective measures by April 30, 2026 to prevent future violations identified in the warning.

On March 30, 2026, the Swedish government published a bill (Bill 2025/2026:223) proposing a new consumer credit law designed to strengthen consumer protection and adapt legislation to recent market developments. The bill aims to prevent over-indebtedness through enhanced credit assessment requirements. A new licensing requirement will be introduced, requiring more credit providers and intermediaries to obtain authorisation, operate under supervision, and meet standards for sufficient knowledge and competence. The new consumer credit law will regulate multiple aspects of consumer credit provisions, including information requirements, right of withdrawal, marketing practices, and interest rate and cost caps. The proposal aims to implement Directive (EU) 2023/2225 (Consumer Credit Directive 2) into Swedish law. Key protections include ensuring consumers receive clear information about credit agreements and their rights, establishing broad consumer protection rules across the credit market, and implementing stringent credit assessment procedures to prevent risky lending and over-indebtedness. The new consumer credit law and associated legislative amendments are proposed to enter into force on November 20, 2026.

On March 30, 2026, South Korea's Financial Services Commission (FSC) announced legislative notice and regulatory amendments to the Act on the Reporting and Use of Specific Financial Transaction Information (the Specific Financial Information Act) . The amendments implement provisions from the act that was promulgated on February 19, 2026, and will take effect on August 20, 2026. The amendments strengthen virtual asset business operator entry requirements by expanding the scope of major shareholders subject to review to include shareholders who appoint more than half of directors or representatives, and the largest shareholders and representatives of corporate major shareholders. The FSC introduces financial soundness and social credit requirements, including debt-to-equity ratios not exceeding 200 percent based on the most recent quarterly financial statements, and absence of credit defaults over the past three years. Virtual asset business operators must establish appropriate governance structures, including compliance officers and anti-money laundering personnel. The amendments enhance anti-money laundering obligations for virtual asset transfers by expanding the travel rule information provision requirement from transfers exceeding 1 million Korean won to all transfers, reflecting that 60 percent of domestic virtual asset transfers are below this threshold. For transfers involving overseas virtual asset operators and personal wallets, transactions are restricted based on risk assessment, with transfers exceeding 10 million won automatically reported as suspicious transactions. The amendments also clarify customer identification obligations to include verification of information accuracy and enhanced customer due diligence for high-risk customers and products. The legislative notice and regulatory change notice period runs from March 30 to May 11, 2026. Following regulatory reform committee and legal review, the amendments are expected to be completed by July 2026, with implementation is scheduled to be on August 20, 2026 (subject to change based on results of the consultation). Comments should be submitted to jyeonsu28@korea.kr or by post to the Financial Intelligence Unit, Seoul Government Complex, 209 Sejong-daero, Jongno-gu, Seoul.

On March 30, 2026, South Korea's Financial Services Commission (FSC) announced amendments to capital market regulations to strengthen disclosure requirements for treasury stock holdings and disposals by listed companies, in alignment with the third amendment to the Commercial Act (effective March 6, 2026). The FSC has prepared amendments to the Capital Markets Act Enforcement Decree and the Regulations on Issuance and Disclosure of Securities. These amendments aim to ensure that listed companies utilise treasury stock appropriately for enhancing shareholder value, establishing transparent practices in the market. The key regulatory changes include: Expanding treasury stock disclosure requirements to all listed companies. Requiring greater transparency regarding shareholder-approved treasury stock holding. Disposal plans and their implementation through capital market law disclosure systems. The amendments also reflect changes in the revised Commercial Act by prohibiting trustees from disposing of treasury stock and refining regulations related to exchangeable bonds issued against treasury stock and over-the-counter sales. The FSC will conduct legislative notice and regulatory change notice from March 31 to May 11, 2026. Following this consultation period, the amendments will proceed through the Office of Legislation review, vice-ministerial meetings, and State Council approval before implementation.

On March 30, 2026, the National Bank of the Kyrgyz Republic (NBKR) revoked two payment system operator licenses held by "Tillabay" Limited Liability Company, effective immediately from that date. The NBKR's Supervisory Committee made this decision on March 27, 2026, citing violations of Kyrgyz Republic legislation. The revoked licenses  authorised the provision of services for receiving and transferring payments and settlements for goods and services that are not the direct result of transactions, through payment systems based on information technology and electronic means, as well as payment transfer methods.

On March 27, 2026, the US Office of Foreign Assets Control (OFAC) updated its Specially Designated Nationals (SDN) list in line with the Global Magnitsky Sanctions Program , which empowers the federal government to freeze assets and ban entry to the US for foreign individuals or entities responsible for major human rights abuses or corruption worldwide. Specifically, OFAC deleted five individuals and two entities from the list.

On March 27, 2026, the Norwegian government released a new action plan against gambling problems covering the period 2026 to 2029. The plan was developed by the Lottery Authority (Lotteritilsynet) in collaboration with the Directorate of Health (Helsedirektoratet) and the Media Authority (Medietilsynet), with input from the Norwegian Film Institute. The action plan establishes three primary objectives: minimising the number of people experiencing gambling problems; enabling early identification and providing quality treatment for problematic gambling behaviour; and increasing and sharing knowledge about gambling and gambling problems. Prevention work targeting children and young people becomes a clearer priority area, with a new prevention programme to be offered to schools, youth clubs, sports organisations, and other actors. The plan addresses particular concerns regarding young people who play video games extensively, particularly those purchasing loot boxes, skins, or participating in skin betting, who demonstrate a higher risk of developing gambling problems. This finding comes from a 2025 study by Spillforsk at the University of Bergen surveying 9,000 young people aged 12 to 17 years. The plan emphasises developing treatment services across all levels, making low-threshold and specialised services more accessible, and ensuring services monitor developments in digital gambling markets and usage patterns. It also prioritises improved support and assistance for families and relatives of those affected by gambling problems, alongside better information and knowledge sharing about available treatment options for players, relatives, and municipal health services. Financing for the action plan's measures comes from Norwegian Tipping's surplus, with implementation overseen by the Lottery and Foundations Authority, the Media Authority, the Directorate of Health, and the Research Council.

On March 27, 2026, the Swedish Gambling Authority (Spelinspektionen) published a report detailing measures that unlicensed online gambling operators can implement to effectively prevent participation from Sweden. The report outlines actions operators can take across three key areas: access to gambling (including registration, payment, and withdrawal); contractual terms; and user management. The measures are presented in order of effectiveness for preventing Swedish participation, according to Spelinspektionen's assessment. The report does not specify which individual measures are sufficient, but rather describes various types of measures that can contribute to preventing participation from Sweden. The assignment follows from the government memorandum "Spellagens tillämpningsområde" (Ds 2025:23), which proposes that the Gambling Act's scope of application should be based on a participant criterion. Under this approach, online gambling is considered to be offered in Sweden if a person located in Sweden can participate in the game. This represents a shift in how Swedish gambling regulation determines jurisdiction and applicability. The report was commissioned under the government budget directive Fi202502220. The measures outlined are intended to support compliance efforts by unlicensed operators seeking to restrict access from Swedish players, though the report emphasises that no single measure is mandated as sufficient on its own. REFERENCE: Spelinspektionen. (2026, March 27). Regeringsuppdrag: åtgärder mot deltagande i olicensierat spel. Retrieved from https://www.spelinspektionen.se/

On March 27, 2026, the US Office of Foreign Assets Control (OFAC) issued three general licenses related to the Venezuelan minerals sector. The general licenses authorize transactions and activities otherwise prohibited under the Venezuela Sanctions Regulations (VSR) . General License 51A authorizes certain activities involving Venezuelan-origin minerals, including gold, under specified circumstances. General License 54 authorizes the supply of certain items and services for minerals operations in Venezuela under specified circumstances. General License 55 authorizes negotiations of and entry into contingent contracts for certain investments in Venezuela's minerals sector under specified circumstances.

On 26 March 2026, the Hong Kong Monetary Authority (HKMA) issued updated guidance on consumer protection in the use of alternative data by authorized institutions. This circular represents the HKMA's current supervisory expectations for banks and other authorized institutions operating in Hong Kong. The guidance addresses how authorized institutions should protect consumers when utilizing alternative data sources in their operations. This update forms part of the HKMA's broader framework governing the use of advanced data analytics and artificial intelligence technologies by financial institutions. The circular is directly related to existing HKMA guidance on consumer protection in the use of generative artificial intelligence (issued 19 August 2024) and builds upon foundational principles established in prior circulars on big data analytics and artificial intelligence (5 November 2019) and high-level principles on artificial intelligence (1 November 2019). The guidance also cross-references relevant supervisory policy manual modules governing credit data sharing through credit reference agencies and sound practices for customer data protection. The circular applies to all authorized institutions supervised by the HKMA, including banks engaged in consumer lending and credit card businesses. The issuance of this guidance reflects the HKMA's ongoing commitment to ensuring that as financial institutions increasingly rely on alternative data sources and advanced analytics, consumer protection standards remain robust and clearly defined. Authorized institutions should review the circular and ensure their policies, procedures, and risk management frameworks align with the HKMA's expectations outlined in this guidance. **Reference:** Hong Kong Monetary Authority Banking Regulatory Document Repository

On March 19, 2026, the National Bank of Slovakia (NBS), through its Capital Market Supervision Department, published a position statement establishing supervisory expectations for financial agents regarding compliance with client-facing conduct rules in loan intermediation activities. The statement addresses the NBS's supervisory approach to information acquisition, provision, recording, and evaluation by independent financial agents (SFA) under the Financial Intermediation and Financial Advisory Act (Act No. 186/2009). The NBS identified inconsistent practices across market participants during supervisory activities and consultation responses, prompting clarification of its expectations. Key areas covered include: (1) Information provision to clients must be documented and confirmed, with financial agents bearing the burden of proof regarding compliance. Information should be provided sufficiently in advance of loan applications, with agents demonstrating delivery through written confirmation or electronic records. (2) Recording of client information should occur continuously during assessment, with dates and times documented, and completed before loan applications are submitted. The NBS discourages template-based checkbox options for clients refusing information disclosure without substantive documentation of warnings about assessment limitations. (3) Suitability statements must be personalised based on client information gathered, not generic standardised text, and should be provided before loan applications. (4) For distance intermediation, all communication forms (email, telephone, electronic) must be recorded. (5) Financial agents must make reasonable efforts to provide all legally required information at the time of intermediation, informing clients when and how additional information will be provided. The NBS indicated that non-compliance with these recommendations and applicable legislation may result in supervisory measures, remedial actions, and sanctions.

On March 27, 2026, the Central Bank of Russia launched a consultation on the Draft Bank of Russia Directive "On the Recognition of Regulatory Legal Acts of the Federal Commission for the Securities Market and the Federal Service for Financial Markets as Inapplicable", in accordance with Directive (EU) 2019/882 (the EU Accessibility Act) . The following legislation is proposed to be deemed inapplicable: Resolution of the Federal Securities Commission No.03-28/PS of May 22, 2003 "On the Procedure for Recording Additional Issues of Equity Securities in the Association's Accounting System and for Cancelling the Individual Numbers (Codes) of Additional Issues of Equity Securities". Order of the Federal Financial Markets Services dated December 8, 2005 No.05-77/PZ-N "On the Approval of the Regulation Regarding Requirements for the Conduct of Activities by Participants in Financial Markets When Using Electronic Documents". Order No.08-60/PZ-N of the Federal Service for Financial Markets dated December 25, 2008 "On Amendments to the Regulations on Requirements for the Conduct of Financial Market Participants When Using Electronic Documents". Order No.09-58/PZ-N "On the Approval of the Regulations on the Procedure for the Redemption of Mortgage Participation Certificates". This list is not exhaustive, please refer to the translated document to see the full list of legislation. Comments and feedback are welcome up until April 7, 2026, and can be sent via email to bitsoevGT@cbr.ru .

On [date], the Central Bank of Russia (Bank of Russia) issued an information letter to credit institutions and banking associations recommending a proactive approach when informing customers about transaction restrictions and limitations on remote account access. The Bank of Russia conducted monitoring of credit institutions' practices regarding customer notification when operations are refused, restricted, or when electronic payment methods and remote banking services are limited under Federal Law No. 115-FZ (on combating money laundering and terrorism financing) and Federal Law No. 161-FZ (on the national payment system). While most credit institutions generally follow previously published guidance from August 26, 2025, the Bank of Russia identified inconsistencies in how institutions inform and support customers during these processes, creating difficulties for customers seeking clarification on applied restrictions or refusals. To standardise practices and enhance transparency, the Bank of Russia recommends that credit institutions proactively: notify customers through remote banking channels and SMS about restrictions or operation refusals, including reasons and applicable legal bases; inform customers of their right to submit documents or information disputing the restriction; maintain customer access to communications through remote banking systems even when electronic payment restrictions are in place; and provide customers with links to Bank of Russia resources explaining the process for exclusion from the Bank of Russia's database of unauthorised fund transfer attempts. Additionally, when customers challenge restrictions or refusals, institutions should explain appeal procedures, including the right to petition the interdepartmental commission established at the Bank of Russia under Article 7(13.5) of Federal Law No. 115-FZ. The recommendations apply to all credit institutions and banking associations operating in Russia. REFERENCES: Central Bank of Russia Information Letter on Proactive Notification of Transaction Restrictions (2025)

On March 24, 2026, Turkey's Personal Data Protection Authority (Kişisel Verileri Koruma Kurumu) published a public announcement regarding Principle Decision 2026/347 dated February 18, 2026. The decision addresses requirements for data controllers to prepare consent texts and information notices as separate, distinct documents. The authority identified that presenting consent and information notices in a combined or intermingled format represents one of the most frequently encountered violations in complaints and reports received by the institution. The decision establishes that data controllers must prepare these texts separately when personal data processing is based on explicit consent under the Personal Data Protection Law (Law No. 6698). Key requirements include: information notices must be provided before processing begins, regardless of whether explicit consent is required; when both documents appear on the same page, they must use different headings and appear as separate statements; information notices must use clear, understandable, and simple language; and texts must not be generic, ambiguous, incomplete, misleading, or contain false information. Data controllers must customise texts to their specific operations rather than copying templates from other organisations verbatim. When personal data processing relies on legal bases other than explicit consent, only the information notice obligation applies, and no separate consent text should be presented to data subjects. The authority emphasised that compliance with these requirements constitutes an administrative and technical safeguard under Article 12 of the Personal Data Protection Law. Non-compliance will result in enforcement action under Article 18 of the law.

On March 24, 2026, the Council of the BankID System of the National Bank of Ukraine (NBU) adopted amendments to the procedures governing subscriber participation in the BankID System. The decision, issued as Resolution No. В/57-0002/34404, modifies the existing Order on the Procedure for Connecting Subscribers to the BankID System of the National Bank of Ukraine and Terminating Their Participation in the System. The BankID System is Ukraine's digital authentication and identification infrastructure operated by the NBU, enabling secure access to financial and government services. The amendments address the processes by which organisations and entities can join the BankID System and the procedures for ending their participation. These changes affect all current and prospective subscribers seeking to utilise the system's digital identification capabilities for financial transactions and service delivery. The decision became effective on March 24, 2026. Subscribers and organisations intending to connect to or modify their status within the BankID System should review the updated procedures to ensure compliance with the new requirements. **Reference:** National Bank of Ukraine, Council of the BankID System, Resolution No. В/57-0002/34404 (March 24, 2026)

The Malta Financial Intelligence Analysis Unit (FIAU) has issued a reminder of the first 2026 deadline for the Risk Evaluation Questionnaire (REQ). The deadline for the first group of subject entities, including virtual financial asset service providers, is April 9, 2026. Timely submission of the REQ through CASPAR is a legal obligation, and failure to submit by the indicated deadlines will constitute a late submission and may result in subject persons being liable to an administrative penalty. Any queries regarding CASPAR and the submission of REQ 2026 should be sent to caspar@fiaumalta.org .

On March 26, 2026, the National Bank of Ukraine (NBU) approved an internal Plan for implementing measures in the field of European integration. The Plan systematises all European Union (EU) integration tasks for the central bank to implement EU law in the financial sector. The Plan addresses key areas including banking, insurance, and digital finance (virtual assets and digital operational resilience). It incorporates roadmaps from cluster 1 "Foundations of the EU Accession Process," recommendations from European Commission screening reports, Ukraine's progress reports within the EU Enlargement Package, commitments from approved negotiating positions, and key performance indicators across six clusters and 13 negotiating chapters. The largest volume of tasks involves legislative and regulatory changes to implement EU law, with the majority falling under cluster 2 "Internal Market," particularly Chapter 9 "Financial Services" and Chapter 4 "Free Movement of Capital," both led by the NBU at the inter-agency level. Under Chapter 17 "Economic and Monetary Policy" within cluster 3 "Competitiveness and Inclusive Growth," the Plan includes tasks to strengthen central bank independence and prepare for future participation in the European System of Central Banks. NBU Governor Andrii Pyshny stated the Plan represents an ambitious framework defining internal logistics and task distribution as part of broader EU integration objectives, requiring clear monitoring and risk assessment. Ukraine aims to align its legislation with EU requirements by the end of 2027. The NBU will collaborate with other state bodies, the government, and parliament to develop legislation and regulatory acts achieving EU compliance. Timely implementation depends on coordinated cooperation across government institutions and parliamentary approval of proposed EU integration bills.

On March 25, 2026, Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) published Circular CSSF 26/908, which amends Circular CSSF 18/703 on semi-annual reporting of borrower-related residential real-estate indicators. The circular applies immediately to all lenders active in Luxembourg's residential real-estate sector. The amendments primarily address the treatment of rental income in borrower income calculations, update regulatory references, and revise reporting processes and submission channels. The circular specifies that lenders must report residential real-estate data semi-annually in April and October each year, with reference dates of December 31 and June 30, respectively. The scope covers loans for the purchase of residential real estate in Luxembourg, secured by real-estate collateral located in Luxembourg, including owner-occupied housing, buy-to-let properties and renovation loans. Lenders can submit their data using one of two methods, either by: The dedicated eDesk approach, accessible via the eDesk Portal. The API solution based on the submission of a structured exchange file (JSON format) via the S3 (Simple Storage Service) protocol. The circular enters into force with immediate effect.

On March 16, 2026, the French Treasury and the Prudential Supervision and Resolution Authority (ACPR) jointly issued updated guidelines on the implementation of asset freezing measures in France. The guidelines provide a framework for financial institutions and other regulated entities to comply with asset freezing obligations. These measures are implemented in response to sanctions regimes, counter-terrorism financing requirements and other regulatory mandates. The joint guidelines establish procedures and operational requirements for institutions subject to ACPR oversight to effectively identify, report and freeze assets of designated individuals and entities. The document addresses compliance obligations, procedural safeguards and coordination mechanisms between the Treasury and ACPR to ensure consistent implementation across the financial sector. Regulated entities should review the new requirements and update their internal procedures, compliance systems and staff training accordingly to ensure full alignment with the current framework. The updated guidelines are effective from March 16, 2026. The updated version supersedes previous iterations from June 2016, June 2019 and June 2021, reflecting evolving regulatory requirements and international standards.

On March 26, 2026, the Central Bank of Malta (CBM) published an updated text of CBM Directive No. 19 governing the use of cheques and bank drafts. The directive establishes the regulatory framework for cheques and bank drafts where the payer, payee and regulated institutions servicing these paper-based instruments are all located in Malta. The directive has been updated following a public consultation to encourage the use of alternative payment methods to cheques. The updated directive introduces several revisions to strengthen the framework governing paper-based payment instruments and to support the shift towards safer, more efficient payment methods. Key amendments include increasing the minimum cheque issuance value from €20 to €50, reducing the validity period of cheques, and requiring cheques to be deposited into a payment account. These changes reflect the CBM's commitment to ensuring the framework remains clear, effective, and aligned with evolving payment practices and technological developments in the payments landscape. The updated provisions will come into force on January 1, 2027, providing regulated institutions and customers with sufficient time to adapt to the new requirements.

On March 26, 2026, the French Financial Market Authority (AMF) announced its application of guidelines adopted by the European Securities and Markets Authority (ESMA) concerning the knowledge and competence requirements for staff of crypto-asset service providers (CASPs) under Regulation (EU) 2023/1114 - Markets in Crypto-Assets (MiCA). Adopted on January 28, 2026, the ESMA guidelines establish criteria for assessing CASP staff knowledge and competence to ensure compliance with MiCA's obligation for service providers to act in clients' best interests. The guidelines clarify the general framework applicable to CASPs, requiring staff to be familiar with, understand and apply internal policies and procedures designed to ensure MiCA compliance. The guidelines distinguish between staff providing only information on crypto-assets and those providing advisory services, with different minimum annual training hour requirements for each category. Additionally, the guidelines establish organisational requirements relating to the assessment, maintenance and updating of CASP staff knowledge and competence, and include practical examples in an annex. The guidelines apply to all authorised CASPs, whether authorised through licensing or notification procedures. The guidelines will apply in France from July 28, 2026. All CASPs authorised in France must ensure their staff meet the specified knowledge and competence criteria by this date.

On March 27, 2026, the Financial Sector Conduct Authority (FSCA) of South Africa published a notice inviting public comment on proposed amendments to the A2X Listing Requirements relating to actively managed exchange-traded funds (ETFs) and actively managed certificates. The proposed amendments have been published on the FSCA’s website in accordance with section 11(6)(c)(ii) of the Financial Markets Act, 2012. Interested stakeholders are invited to submit comments or objections to the FSCA via email by April 10, 2026. The consultation forms part of the FSCA’s oversight of market infrastructure and aims to ensure that the A2X listing framework remains appropriate for actively managed exchange-traded products.

On March 27, 2026, the National Bank of Ukraine (NBU) adopted the Decision on Establishing the Amount of Commission Remuneration for Transactions Carried Out by the National Bank of Ukraine to Replenish Banks' Cash Reserves with Foreign Currency in Exchange for Non-Cash Foreign Currency. The decision sets the following commission rates for the National Bank of Ukraine's operations to replenish banks' cash reserves with foreign currency cash in exchange for non-cash foreign currency: For transactions to replenish banks' cash reserves with US dollar cash in the amount of: From $100 to $500,000 (inclusive) - 0.33 percent, $500,000 to $1m - 0.3 percent, and for over $1m - 0.27 percent. For transactions to replenish bank cash reserves with cash euros in the amount of: From €100 to €500,000 - 0.2 percent, from €500,000 to €1m - 0.24 percent and for over €1m - 0.18 percent. This decision shall enter into force on March 28, 2026.

On March 23, 2026, the Superintendencia de Banca, Seguros y AFP (SBS), Peru's financial superintendent, published guidance on managing sustainability-related risks for supervised financial institutions, insurance companies, and private pension fund administrators. The guidance document, titled "Guía sobre la gestión de riesgos derivados de la sostenibilidad para las empresas del sistema financiero, de seguros y privado de pensiones" (Guide on Managing Risks Derived from Sustainability for Financial System, Insurance and Private Pension Companies), aims to orient supervised entities in progressively incorporating sustainability criteria into their governance, strategy, risk management, and information disclosure practices, aligned with international best practices. The SBS emphasises that the guidance is non-mandatory and does not create immediate supervisory requirements. Instead, it adopts a principles-based approach allowing supervised entities to adopt or adapt recommendations flexibly according to their size, business model, maturity level, and strategic priorities within the existing regulatory framework. This proportional approach enables entities to adapt to an evolving environment while progressively strengthening their capacity to manage sustainability-related risks. The SBS positions this publication as an innovative approach to sustainability regulation, providing anticipatory guidance on appropriate practices before implementing mandatory provisions. The guidance serves as a reference instrument facilitating gradual and orderly preparation for future regulatory requirements, supporting the SBS's Climate Change and Sustainable Finance Roadmap and informing the progressive development of the institution's regulatory and supervisory approach to sustainability matters.

On March 26, 2026, the European Securities and Markets Authority (ESMA) published its translated guidelines for stress test scenarios under Regulation (EU) 2017/1131 (Money Market Funds Regulation (MMF)). These guidelines are updated at least annually to reflect market developments. The guidelines provide common reference parameters for stress test scenarios that money market funds (MMFs) or managers of MMFs are required to conduct. In particular, the guidelines include: Additional explanations on how to report the results of macro-systemic shocks. Updated guidance and risk parameters to ensure that MMF managers have the necessary information to complete the reporting template set out in Article 37 of the MMF Regulation. The updates to the guidelines are highlighted in red in the final report. In particular, Section 5 on calibration has been updated. With the publication of translated guidelines, national competent authorities must, by May 26, 2026, report whether they intend to comply with the guidelines. The guidelines apply on May 26, 2026, two months after their publication.

On March 23, 2026, the Global Cross-Border Privacy Rules (CBPR) Forum, comprising 14 jurisdictions including Japan, updated its Program Requirements to facilitate broader participation by additional jurisdictions and establish the Global CBPR System as a global standard. The Program Requirements are the set of questions and assessment criteria used by accountability agents to examine whether applicant organisations seeking certification comply with the Global CBPR Privacy Framework. The updated requirements introduce three key areas: Procedures for handling sensitive personal information and children's personal information. Procedures for assessing and mitigating the risk of personal information leakage. Procedures for notifying affected individuals of data breaches. These additions aim to strengthen privacy protections and standardise certification assessments across participating jurisdictions.  From April 1, 2027, onward, all applicant organisations seeking new certification or recertification under the Global CBPR System will be subject to certification assessments based on the updated Program Requirements. Organisations currently certified under the previous requirements will need to comply with the new standards upon recertification. The full text of the updated Program Requirements and related documentation are available on the Global CBPR Forum website.

On March 26, 2026, the Financial Conduct Authority (FCA) published consultation paper CP26/11 proposing regulatory fees and levies for the 2026/27 financial year. This consultation applies to all FCA fee-payers, Financial Ombudsman Service levy payers, and firms considering applying for FCA authorisation or registration. Key proposals from CP26/11 include: The FCA's Annual Funding Requirement (AFR) for 2026/27 is £788.9 million, representing a 0.7 percent increase from the 2025/26 AFR of £783.5 million. The FCA proposes uplifting minimum and flat-rate periodic fees by 1 percent in line with the increase in operating costs. The Financial Ombudsman Service general levy will increase to £86 million from £70 million in 2025/26, with an approved budget of £268.3 million. The FCA proposes an estimated financial penalty rebate of £72.8 million to reduce periodic fees across specified fee-blocks. Additionally, the FCA proposes amendments to clarify that cryptoasset businesses applying for multiple permissions under the Money Laundering Regulations and Financial Services and Markets Act 2000 pay only one application fee, and to designate direct debit as the preferred payment method for fees and levies. The FCA plans to publish a policy statement with final rules in early July 2026, subject to FCA Board approval in June 2026. The consultation closes on April 30, 2026, and responses can be submitted via the online form at www.fca.org.uk or emailed to cp26-11@fca.org.uk .

On March 26, 2026, the US Office of Foreign Assets Control (OFAC) issued Belarus General License 14 , which authorizes transactions involving the Belarusian Bank of Development and Reconstruction, Belinvestbank Joint Stock Company and certain additional entities. OFAC determined that circumstances no longer warrant the prohibitions imposed on the Belarusian Ministry of Finance and its banking infrastrucutre under Belarus Directive 1 . Accordingly, OFAC has rescinded this directive. Following these determinations, OFAC has also archived Belarus General License 13 , as it is no longer applicable. OFAC has additionally removed multiple entities from its Specially Designated Nationals (SDN), with the removals reflecting OFAC's updated sanctions posture toward Belarus-related individuals and entities previously subject to asset-blocking restrictions.

On March 26, 2026, the Governor of Alabama issued Executive Order 743 , which promotes fair and lawful access to financial services. The executive order addresses access to financial services within Alabama, establishing a framework intended to ensure fair and lawful practices in the provision of financial services to residents and businesses, reflecting the state's commitment to maintaining equitable access to banking and other financial services while upholding legal and compliance standards. Under the executive order, the Alabama State Banking Department (SBD) is directed to issue guidance, consistent with the order's provisions, to all state-chartered banking institutions regarding the state’s policy and expectations regarding banking institutions’ continued practice of engaging in safe, sound and legal business activities. The executive order takes effect immediately .

On 24 March 2026, the Australian government published the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) (Class Exemptions and Other Matters) Amendment Rules 2026. The amendments include: Addition of domestic transfer value and gift cards in these measures. Specification of circumstances covered by subsection 6(5C) of the AML/CTF Act . Specification of exemptions from initial customer due diligence, including withdrawal of money from a financial institution or ATM; or transfer of value to a self-hosted virtual asset wallet; transfer of value using gift card issued by reporting entity. Clarification of individuals that are not ordering or beneficiary institutions. Clarification that the AML/CTF Act does not apply to services provided by barristers to Australian government bodies, legal assistance, or clearing and settlement facilities. These Amendment Rules come into effect on March 31 2026, immediately following the commencement of the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 .

On March 26, 2026, the Prudential Regulation Authority (PRA) published a policy statement (PS11/26), finalising changes to provide greater clarity for users on which Pillar 3 disclosure regime applies to a given firm. This policy statement (PS) follows consultation paper (CP)16/25 , and finalises the following: Introduction of standardised Minimum Requirements for Own Funds and Eligible Liabilities (MREL) disclosure templates, aligned with the Basel Committee's total loss absorbing capacity (TLAC) formats but adapted for the UK. These templates replace current free-form disclosures and expand the scope of firms required to disclose. Increased transparency and consistency of firms’ disclosure on MREL resources. Introduction of a new qualitative disclosure requirement for firms subject to capital distribution constraints (CDCs) to allow for more meaningful assessment by market participants of the likely impact of those capital distribution restrictions.  Alongside the removal of the systemic risk buffer (SRB) disclosure requirement to ensure consistency with the current capital buffer framework. Introduction of a new disclosure requirement to increase clarity about the basis upon which firms are required to produce Pillar 3 disclosures to improve user understanding. A set of minor amendments to disclosure and reporting to reflect HM Treasury’s (HMT) intention to revoke Article 92a of the onshored Capital Requirements Regulation (CRR). The implementation date for all requirements is January 1, 2027, with a first reference date for the period ending  December 31, 2026.

On March 26, 2026, the Prudential Regulation Authority (PRA) published a policy statement (PS9/26), finalising changes to the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) reporting for relevant firms. This policy statement follows consultation paper 15/25 and confirms the following: The revised MRL001 and MRL003 templates will be effective from  January 1, 2027. In line with the frequency of MREL reporting, firms will submit 2026 Q4 data based on the revised policy in February 2027. Until then, bail-in preferred resolution strategy firms should continue to use the existing MRL001 and MRL003 templates. These firms should also continue to report only the ‘Current Reporting’ column across all data elements in MRL002, other columns in MRL002 can be left blank until the template is deleted in its entirety from January 1, 2027. Transfer-preferred resolution strategy firms no longer need to submit the MRL001 and MRL002 template with immediate effect. However, such firms should continue to use the existing MRL003 template until the revised version comes into effect. This policy statement is relevant to UK banks, building societies, PRA-designated investment firms and their qualifying parent undertakings

On March 26, 2026, the Prudential Regulation Authority (PRA) published a policy statement (PS10/26), finalising amendments to the Bank of England's resolution and recovery frameworks. The policy has not changed from consultation paper ( CP14/25 ) and confirms the following. From the implementation date, UK firms with equal to or greater than £100bn in retail deposits will be in scope of the Resolution Assessment rules. The PRA has already communicated the dates by which firms in-scope of the amended threshold are next expected to submit reports and publish disclosures. From the implementation date, Small Domestic Deposit Takers (SDDTs) will only be required to review their recovery plans at least once every two years. However, SDDTs experiencing changes that could have a material effect on their recovery plans should update their plans more frequently. The PRA expects that SDDTs, which are ‘new and growing banks’ will likely need to review and update their recovery plans more regularly than the proposed minimum. This policy statement will take effect on April 1, 2026.

On March 26, 2026, the Netherlands Gambling Authority (KSA) reminded sports betting licence holders of the scope and limits of their licences following supervisory findings. The regulator identified that several operators had offered bets falling outside the permitted category of sports betting, including bets on prize competitions such as Most Valuable Player (MVP) awards. These bets do not qualify as sports betting where outcomes are determined by a jury or panel rather than by events occurring during a sports match. Following the intervention, the relevant bets were removed. Under the Remote Gambling Decree, operators may only offer bets on events occurring during a sports match or on the outcome of a sports match. In addition, the sporting event must take place within an organised sport recognised by NOC*NSF or comparable international sports organisations. Bets on non-sporting events, such as political elections or athlete transfers, are not permitted. The KSA emphasised that licence holders remain fully responsible for their gambling offerings, including where third-party platforms or sportsbook providers are used. Operators are expected to continuously monitor their offerings and take immediate corrective action.

On March 26, 2026, the Advertising Standards Authority for Ireland (ASA) launched a consultation on its Code of Standards for Advertising and Marketing Communications, including Section 10 governing gambling advertising. Section 10 applies broadly to any marketing communication that promotes gambling services or products, or the brand and reputation of gambling operators, including both “play for money” and certain “play for free” products. It also captures indirect references to gambling where relevant. The Code requires that all gambling advertising include responsible gambling messaging and directs consumers to information on responsible play. It further prohibits marketing that portrays gambling as a solution to financial or personal problems, an alternative source of income, or a risk-free activity, and bans content that exaggerates chances of winning or implies guaranteed success. The rules also restrict socially irresponsible messaging, including portraying gambling as indispensable, encouraging excessive or solitary gambling, or linking gambling to personal success, attractiveness or social status. Strict provisions apply to the protection of minors. Advertising must not target individuals under 18, feature persons under 25 in a gambling context (subject to limited exceptions), or appear in media or locations aimed at children, including within 100 metres of schools. Marketing must not exploit children’s vulnerabilities or associate gambling with youth culture. The consultation is open until May 9, 2026, and submissions can be made by selecting relevant sections of the Code and providing feedback directly to the ASA.

On 24 March 2026, the Australian government tabled the Anti-Money Laundering and Counter-Terrorism Financing (2025 Rules) Amendment Rules 2026, administered under the A nti-Money Laundering and Counter-Terrorism Financing Act 2006 . The main purpose of the amendments are to update operational compliance requirements for entities regulated under Australia's AML/CTF regime. The amendment introduces four schedules of amendments across key compliance areas: Addressing reporting group amendments, establishing or refining how reporting entities must structure and manage group-level compliance obligations. Covering enrolment and registration amendments, likely updating procedures for entities entering or maintaining their status within the regulatory framework. Implementing customer due diligence amendments, potentially strengthening or clarifying requirements for verifying customer identity and assessing money laundering and terrorism financing risks. Other miscellaneous amendments addressing technical or administrative matters across the rules. The changes came into force on March 31, 2026, immediately after the commencement of the Anti‑Money Laundering and Counter‑Terrorism Financing Rules 2025.

On March 26, 2026, the Finnish government submitted a proposal to parliament to amend the Accounting Act and Auditing Act, significantly narrowing the scope of mandatory sustainability reporting obligations for Finnish companies. Under the proposed changes, sustainability reporting requirements would apply only to the largest companies, specifically those with annual turnover exceeding €450m and employing more than 1,000 people. This threshold reduction would decrease the number of companies subject to reporting obligations from approximately 1,300 to around 130 in Finland. The proposal implements the second phase of the European Union's Omnibus Package, which aims to balance sustainability objectives with the administrative burden on businesses. The government's proposal follows an initial phase submitted in September 2025, which delayed the implementation of sustainability reporting requirements by two years. The proposed amendments would enter into force on June 30, 2026, although the provisions could be applied from January 1, 2026 onwards for fiscal years beginning on or after that date. Listed companies employing more than 500 people that published a sustainability report for a fiscal year beginning on or after January 1, 2024 would be permitted to cease preparing and publishing sustainability reports from fiscal years beginning on or after January 1, 2025, provided they no longer meet the new threshold criteria. Finland's Ministry of Employment and the Economy stated the proposal represents a continuation of efforts to reduce administrative burden on Finnish companies while maintaining proportionate sustainability reporting aligned with EU regulations. The proposal is now before the Finnish parliament for consideration.

On March 26, 2026, the Financial Supervisory Service (FSS) of South Korea published consumer guidance addressing key banking transaction practices based on frequently reported complaints received by the authority. The FSS identified five areas of consumer concern requiring clarification: Loan interest rate reductions. Erroneous transfers to frozen accounts. Short-term delinquency information sharing. Loan rate adjustment cycles. Multiple account opening restrictions. Regarding interest rate reductions, the FSS clarified that card spending requirements must be met through transactions processed from the borrower's account at the lending bank to qualify for preferential rates. For erroneous transfers to frozen accounts, the FSS advised that funds cannot be recovered through standard refund procedures. The FSS also warned consumers that short-term delinquencies—defined as five or more business days overdue with amounts exceeding 100,000 Korean won—trigger information sharing across the financial sector, resulting in potential card suspension, loan rejection, and interest rate increases. The FSS explained that fixed-rate mortgages with five-year terms convert to variable rates after five years, with rates potentially increasing based on the lending bank's rate-setting criteria. Finally, the FSS noted that account opening restrictions apply when transaction purposes cannot be verified, as part of efforts to prevent fraudulent account use. The guidance aims to equip consumers with practical knowledge of banking practices and their rights. The FSS encourages consumers to review the detailed guidance document for comprehensive information on these banking transaction matters. The Consumer Communication Division of the FSS Bank and Financial Investment Complaints Team serves as the responsible authority for this initiative.

The Bank for International Settlements (BIS) has published an executive summary on sound third-party risk management for banks, based on the Basel Committee on Banking Supervision's (BCBS) " Principles for the Sound Management of Third-Party Risk ". The summary outlines the risks banks face when entering into arrangements with third-party service providers (TPSPs), including critical service, supply chain and concentration risks. Therefore, banks need to manage the risks associated with their TPSP arrangements appropriately to enhance their ability to withstand, adapt to, and recover from operational disruption and mitigate the impact of potentially severe disruptive events. The executive summary sets out the BCBS principles, which fall into three categories: governance, risk management and strategy; management of TPSP risks; and guidance for prudential supervisors. These principles seek to accommodate a diverse range of bank risk management practices and approaches, and aim to promote international engagement, as well as greater collaboration and consistency. This is intended to reduce regulatory fragmentation.

On March 26, 2026, the Central Bank of Russia published the Directive on Additional Requirements for the Content of Decisions on the Issuance of Digital Financial Assets. A decision to issue digital financial assets must contain the following information: For a legal entity: Information contained in the annual accounting statements and in the auditor's report thereon, if such statements have been audited or are subject to mandatory audit, for the last three completed fiscal years or for each completed fiscal year (if the entity has been operating for less than three years). Information contained in the interim accounting statements for the most completed reporting period consisting of three, six or nine months and in the auditor's report thereon, if such statements have been audited. Information contained in the annual accounting statements and in the auditor's report thereon, if such statements have been audited or are subject to mandatory audit, for the last three completed fiscal years or for each completed fiscal year (if the entity has been operating for less than three years). Information contained in the interim accounting statements for the most completed reporting period consisting of three, six or nine months and in the auditor's report thereon, if such statements have been audited. For a credit institution (bank): A link to a page on its official website on the information and telecommunications network. A link to a page on its official website on the information and telecommunications network. This directive shall enter into force on October 1, 2026.

On March 25, 2026, the Financial Supervisory Authority (FCA) of Finland imposed a combined administrative penalty of €70,000 on Familiam Asset Management Oy for failures in trade reporting and regular supervisory reporting obligations. Familiam Asset Management Oy failed to report 2,867 transactions to the FCA within the required timeframe between September 8, 2021, and August 31, 2023—a period spanning nearly two years. Additionally, the company failed to submit quarterly supervisory data in accordance with the FINREP and IF reporting frameworks for three reference dates in 2024. The delays in submitting supervisory data ranged from approximately four days to two weeks. Trade reporting is essential to the FCA's market abuse supervision and maintaining public confidence in securities markets. Timely submission of regular supervisory data is critical to the FCA's statutory supervisory functions. The FCA determined the penalty amount through a comprehensive assessment considering the nature, scope, and duration of the breaches. The company's cooperation with the FCA in clarifying the matter was treated as a mitigating factor in reducing the penalty amount. The FCA's decision is not final. Familiam Asset Management Oy has the right to appeal the decision to the Helsinki Administrative Court within 30 days of receiving notification of the decision. Information regarding the enforceability of the decision is available on the FCA's online services portal. **Reference:** Financial Supervisory Authority (FCA) press release, March 25, 2026

On March 25, 2026, the Central Bank of Russia (CBR) published amendments to Directive No. 5253-U and No. 7167-U, applicable to lending providers. Key amendments include: The financial assets of a microfinance company shall, at the discretion of the company, include claims under online consumer microloan agreements concluded between March 1 and September 30, 2026. Reports on the microfinance activities of a microfinance company shall be prepared and submitted in accordance with Bank of Russia Directive No. 6316-U as at the latest reporting date. The value of the loans must be determined using specified accounting balances and calculated net of provisions for possible loan losses established in accordance with Bank of Russia Directive No. 5391-U. The calculation includes: Outstanding loan principal. Accrued interest receivable. Settlements relating to loan issuance expenses. Accounting adjustments that increase the value of the loans. Outstanding loan principal. Accrued interest receivable. Settlements relating to loan issuance expenses. Accounting adjustments that increase the value of the loans. This directive shall enter into force on the date of its official publication, with the exception of sub-clause 1.2 of clause 1 which shall enter into force on October 1, 2026 and sub-clause 1.1 of clause 1 which shall remain in force until September 30, 2026 inclusive.

The Dutch Central Bank (DNB) has updated its existing FINREP reporting framework to implement the Markets in Crypto Assets Regulation (MiCA). The DNB is adding three new tables within the existing FINREP structure to capture reporting on electronic money tokens (EMTs) and asset referenced tokens. The amendments apply exclusively to institutions that issue EMTs and/or ARTs. These tables constitute a MiCA addendum and are subject to specific validation rules. Only institutions issuing EMTs and/or ARTs are required to complete these new tables. For FINREP reporters that do not issue EMTs or ARTs, no additional reporting obligations arise, and existing FINREP tables and validation rules remain unchanged. The reporting cycle and reference dates remain unaltered. The new reporting tables enable the DNB to obtain structured insight into the scale and usage of EMTs and ARTs, as well as the composition, quality and liquidity of associated reserves. The amended FINREP report will be made available following final determination and publication of the taxonomy, and the submission will align with regular FINREP reporting obligations. The DNB will provide further technical documentation, including an updated manual and release notes.

On March 26, 2026, the European Financial Reporting Advisory Group (EFRAG) published a letter to the International Accounting Standards Board (IASB) proposing a deferral of the IFRS 20 effective date to January 1, 2030. As explained by EFRAG, in preparation for the endorsement of IFRS 20, it has been conducting outreach. In doing so, EFRAG has been made aware that some entities, particularly those with operations in multiple jurisdictions, may face challenges in being ready to apply the new standard by the designated effective date of January 1, 2029. In turn, EFRAG has issued this letter to request that the IASB defer the effective date to January 1, 2030, to facilitate its effective implementation.

On March 25, 2026, the Pennsylvania Gaming Control Board (PGCB) approved a consent agreement imposing a $100,000 fine on BetMGM, LLC for failing to maintain sufficient procedures to prevent fraudulent activity on its BetMGM and Borgata wagering platforms. The PGCB determined that BetMGM had inadequate Know-Your-Customer (KYC) protocols, enabling the creation, access, and use of multiple accounts using personal identifying information of other individuals and funded through stolen or fraudulently obtained payment devices. The consent agreement identified four distinct fraud rings operating across the platforms: - Ring one operated for approximately 25 months until January 2024, involving 1,567 fraudulent accounts with $229,580 in combined wagering. - Ring two operated for approximately 34 months until November 2024, involving 34 fraudulent accounts with over $14,598 in combined wagering. - Ring three operated for approximately 29 months until November 2023, involving 119 fraudulent accounts with $895,092 in combined wagering. - Ring four operated for approximately 19 months until December 2023, involving 304 fraudulent accounts with $867,910 in combined wagering. The PGCB also took enforcement action against 16 individuals, placing them on its Involuntary Exclusion Lists. Four individuals were placed on the Involuntary Casino Exclusion List for leaving minors unattended at casino properties while gambling. The remaining 12 individuals were placed on either the Involuntary Casino Exclusion List or Involuntary Interactive Exclusion List for various violations. These actions bring the total number of individuals on the PGCB's Involuntary Exclusion Lists to 1,515. The PGCB's next public monthly meeting is scheduled for April 29, 2026, at 10:00 a.m. in Harrisburg. REFERENCES: Pennsylvania Gaming Control Board Press Release, "PA Gaming Control Board Fines BetMGM $100,000" (March 25, 2026): https://gamingcontrolboard.pa.gov/

On March 25, 2026, the New South Wales (NSW) government announced the revocation of more than 650 gaming machine exemptions held by pubs and clubs across the state. The exemptions, many in place for over 20 years, had permitted venues to operate gaming machines during non-standard shutdown hours. From April 1, 2026, all affected venues must comply with NSW standard shutdown hours, requiring all gaming machines to shut down between 4am and 10am daily. The six-hour shutdown period is a harm minimisation measure designed to provide players with a mandatory break in play. The revocation follows a December 2025 announcement by Minister for Gaming and Racing David Harris and a 2024 Review of Gaming Machine Shutdown Hours Framework conducted by Liquor & Gaming NSW, which determined that a minimum six-hour shutdown commencing no later than 4am is effective at minimising gambling harm. Of 672 venues with varied shutdown periods, 649 exemptions have been revoked by Liquor & Gaming NSW under delegation from the Independent Liquor & Gaming Authority, with 10 revoked directly by the Authority. Thirteen venues remain under assessment, with outcomes to be communicated by March 31, 2026. 62 venues applied to retain their exemptions; of 49 applications assessed, all have been revoked. Venues were given the opportunity to submit cases for retention under revised Ministerial Guidelines. Liquor & Gaming NSW will conduct a compliance campaign following April 1 to ensure adherence to the new requirements. This action forms part of a broader suite of gaming reforms implemented by the Minns Government, including reductions to cash input limits, gaming machine entitlements caps, and the introduction of Responsible Gambling Officers in venues with more than 20 gaming machine entitlements.

On March 25, 2026, the Danish Gambling Authority issued a fine of DKK 3,640 (apporox. €487) to Danske Licens Spil A/S for offering and selling betting products without an approved manager at its retail gambling premises. The operator breached Section 38(1) of the Gambling Act , read in conjunction with Section 37, which requires gambling premises to have an approved manager overseeing day-to-day operations. The violation occurred at the gambling shop Købmand Sommerbyen Højvænge, located at Ågerupvej 100, 2750 Ballerup, between April 17, 2025 and June 17, 2025. Danske Licens Spil A/S has accepted the fine. This enforcement action demonstrates the Gambling Authority's commitment to ensuring compliance with management requirements at licensed gambling premises in Denmark. Operators must maintain approved management structures to ensure proper oversight and regulatory compliance at all times.

On March 25, 2026, the Financial Conduct Authority (FCA) published its regulatory priorities report on Payments. This report will be published annually and replaces the portfolio letters the FCA used to issue. The report focuses on four priorities and sets out expectations of firms beneath each: Preparing for the future to support effective competition, innovation and growth. Prepare for the future: A policy work on open banking, stablecoins, and modernising payments regulation continues, firms should begin proactive preparation and invest where needed to ensure they are compliance-ready. Engage with the FCA: The FCA  encourages firms to respond to policy papers and join events, to ensure that future regulation is fit for purpose and allows firms to innovate safely. Use the FCA’s innovation services: The FCA can help firms bring their ideas to market in a controlled and sustainable way. Prepare for authorisation: Firms intending to apply for authorisation or registration should prepare thoroughly and consider using the FCA’s pre-application support service. Prepare for the future: A policy work on open banking, stablecoins, and modernising payments regulation continues, firms should begin proactive preparation and invest where needed to ensure they are compliance-ready. Engage with the FCA: The FCA  encourages firms to respond to policy papers and join events, to ensure that future regulation is fit for purpose and allows firms to innovate safely. Use the FCA’s innovation services: The FCA can help firms bring their ideas to market in a controlled and sustainable way. Prepare for authorisation: Firms intending to apply for authorisation or registration should prepare thoroughly and consider using the FCA’s pre-application support service. Ensuring firms implement the Consumer Duty effectively. Ensure ongoing compliance: Firms should assess their products, services, and processes against all relevant rules and guidance, including the Duty, on an ongoing basis, and address compliance gaps immediately. Read FCA’s good and poor practice publications: Firms should consider the following to improve their practices: (i) Implementing the Duty , (ii) International payment pricing transparency , (iii) Delivering good outcomes for consumers in vulnerable circumstances , (iv) Cryptoasset financial promotions and fiat-to-crypto on/off ramp service . Ensure ongoing compliance: Firms should assess their products, services, and processes against all relevant rules and guidance, including the Duty, on an ongoing basis, and address compliance gaps immediately. Read FCA’s good and poor practice publications: Firms should consider the following to improve their practices: (i) Implementing the Duty , (ii) International payment pricing transparency , (iii) Delivering good outcomes for consumers in vulnerable circumstances , (iv) Cryptoasset financial promotions and fiat-to-crypto on/off ramp service . Protecting financial system integrity. Have effective governance, capability, and systems and controls: Firms should have effective governance arrangements and systems and controls to identify, assess and mitigate risk. Prepare for the future: Firms should invest where needed, such as further embedding operational resilience and complying with the FCA’s new rules on Incident and Third-Party Reporting . Firms should also engage with the FCA  on their work to modernise payments regulation. Have effective governance, capability, and systems and controls: Firms should have effective governance arrangements and systems and controls to identify, assess and mitigate risk. Prepare for the future: Firms should invest where needed, such as further embedding operational resilience and complying with the FCA’s new rules on Incident and Third-Party Reporting . Firms should also engage with the FCA  on their work to modernise payments regulation. Keeping customers’ money safe. Have effective governance, capability, and systems and controls: Firms should have effective governance arrangements and systems and controls to identify, assess and mitigate risk. Prepare for the future: Firms should invest where needed and be ready to implement the FCA’s new safeguarding rules , which come into force in May. Have effective governance, capability, and systems and controls: Firms should have effective governance arrangements and systems and controls to identify, assess and mitigate risk. Prepare for the future: Firms should invest where needed and be ready to implement the FCA’s new safeguarding rules , which come into force in May. The report also highlights other areas of focus, such as stablecoins, artificial intelligence and open banking and finance.

On March 25, 2026, the Financial Conduct Authority (FCA) issued a consultation  (CP26/10) on proposals to simplify financial advice rules. CP26/10 includes proposals on: Consolidating the suitability requirements in COBS 9 and COBS 9A into one set of common rules and expectations. Clarifying the existing flexibility in the FCA’s suitability rules to offer different advice services, and different recommendations to different clients. Clarifying that firms do not always need to assess a customer’s knowledge and experience before making a recommendation. Introducing a single ‘attitude to risk’ concept in the rules, clarifying that firms do not need to use complex tools or detailed questionnaires to assess it, and confirming that firms can take a proportionate approach when determining a client’s ability to bear losses. Consolidating the timing and content requirements that currently apply to the provision of suitability reports for different types of businesses. Retiring FG17/8, embedding its principles of proportionality directly into Handbook rules. Replacing the annual suitability review with periodic reviews based on clients’ needs. Clarifying how firms support disengaged clients, underpinned by the Consumer Duty . Including a discussion about legacy trail commission arrangements to modernise the rules and to prevent potential consumer harm. This consultation will be particularly relevant to financial advisers and to those who sell or distribute investment products, such as: Financial advice firms Retail banks and building societies Authorised fund managers Investment platforms Investment managers Wealth managers Venture Capital Trusts The deadline for this consultation is May 22, 2026. Responses can be made through the online form or sent by email to cp26-10@fca.org.uk .