Since 29 July 2026, BaFin has had an additional market-surveillance mandate for AI systems placed on the market, put into service or used by entities listed in section 2(3) KI-MIG where the system is directly connected with a regulated financial activity. This mandate sits alongside existing prudential and conduct supervision. BaFin may exercise the market-surveillance…
Hong Kong Taxonomy Phase 2A, published by the Hong Kong Monetary Authority on 22 January 2026, expanded the HKMA’s voluntary framework for classifying economic activities as green, transition-aligned or adaptation-aligned. The classification that Phase 1 introduced in May 2024 covered 12 economic activities across four sectors and dealt only with climate change mitigation. Phase 2A…
On 3 August 2026 the Financial Conduct Authority published PS26/15, the policy statement that finalises its overhaul of UK transaction reporting. From 3 April 2028, firms reporting under UK MiFIR will populate 52 fields instead of 65, will no longer report foreign exchange derivatives, and will drop roughly 7 million instruments that trade only on…
On 31 July 2026, SECO adjusted SESAM, the sanctions database that Swiss financial intermediaries screen against, to reflect a 30 July 2026 decision by the responsible UN Sanctions Committee that amended the list attached to the Taliban sanctions ordinance (SR 946.231.07). FINMA flagged the change in a supervisory notice on 4 August 2026. For a…
On 4 August 2026, Luxembourg published the Law of 22 July 2026 in Mémorial A No 412. It is a short instrument, two substantive articles, and it adds a power the Luxembourg AML law had not carried before: it lets the Cellule de renseignement financier (CRF), the country’s financial intelligence unit, push fraud-risk account numbers…
On 3 August 2026 the European Banking Authority published an EBA FRTB no-action letter (EBA/Op/2026/08) on the boundary between the trading book and the banking book, alongside a set of technical considerations on how EU banks should apply the market risk framework once the European Commission’s third FRTB Delegated Act takes effect. Both documents attach…
On Sunday 9 August 2026, Hong Kong’s Faster Payment System (FPS) is scheduled to suspend all real-time services for ten hours. The Hong Kong Monetary Authority (HKMA) confirmed on 3 August 2026 that the FPS will be unavailable from 1:00 am to 11:00 am Hong Kong time while Hong Kong Interbank Clearing Limited (HKICL), the…
On 3 August 2026 the CSSF published a dedicated material-operations webpage explaining the prior-notification and assessment framework for Luxembourg credit institutions and in-scope financial holding companies and mixed financial holding companies. The page follows the Law of 5 May 2026, which amended the Law of 5 April 1993 on the financial sector to transpose CRD…
On 3 August 2026 the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, acting together as the ESAs, sent the European Commission a final report and a set of draft regulatory technical standards that rewrite one paragraph of the EMIR bilateral margin requirements. The paragraph is…
On 29 January 2026 the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint consultation on a small but consequential part of the Hong Kong OTC clearing rules: the calculation periods that decide when a firm is caught by the mandatory clearing obligation. The regulators proposed to stop adding…