11 October 2027 is the government-supported first trading date for the UK T+1 transition. HM Treasury has committed to legislate for that date, but its latest published statutory instrument is still draft and subject to affirmative parliamentary approval. Under the draft, UK CSDR Article 5(2) would require in-scope transactions in transferable securities executed on a…
On 7 August 2026 the FCA published a statement confirming that it is applying increased scrutiny to Annex 1 firms, including unregulated lenders, safe custody providers, money brokers and financial leasing companies registered with it for anti-money laundering purposes. Alongside the statement, the regulator said it had sent an information request to around 900 Annex…
On 6 August 2026, the Financial Conduct Authority began serving its Handbook of rules and guidance through a new application programming interface. The FCA Handbook API lets a firm’s own software pull the text of UK conduct rules, technical standards and defined terms directly, instead of reading them off the website or waiting for a…
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…
A UK banking group with an EU financial entity identified by its competent authority for DORA threat-led penetration testing may be subject to STAR-FS in the UK and DORA TLPT in the EU at the same time. The Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority maintain STAR-FS, the Simulated Targeted…
On 14 July 2026 the Financial Conduct Authority opened three linked consultations that together make up its asset management reform package, a set of proposals the regulator estimates would save UK asset managers around £128m a year. The three papers cover fund reporting, the alternative investment fund manager regime, and the remuneration rules that apply…
On 2 July 2026 the Payments Vision Delivery Committee published an update on roles and responsibilities in the future retail payments ecosystem. The FCA and PSR published same-day statements directing stakeholders to it, while HM Treasury published the update on GOV.UK. It reads like a background note. It is closer to a pricing document. The…
SS2/21 is the PRA’s supervisory statement on outsourcing and third-party risk management. Its main scope covers UK banks, building societies and PRA-designated investment firms; insurance and reinsurance firms and groups in scope of Solvency II, including Lloyd’s and managing agents; and UK branches of overseas banks and insurers. It has been the working reference for…
A firm running a UK crypto exchange or custody desk has, until now, operated on a Money Laundering Regulations registration, a light-touch anti-money-laundering permission and little else. On 30 June 2026 that arrangement stopped being enough. The FCA published the final rulebook for the FCA cryptoasset regime, and the rulebook treats an existing registration as…
A custodian opened accounts for another FCA-authorised firm, checked the Financial Services Register on multiple occasions, saw each time that the firm lacked the permission it needed to hold those assets, and carried on anyway. Over two and a half years more than GBP 314 million flowed through those accounts while transaction-monitoring alerts sat unresolved….