On 14 October 2026 the Prudential Regulation Authority and the Financial Conduct Authority published their final policy on high LTI lending: PRA policy statement PS19/26 (FCA PS26/20), a new PRA supervisory statement, SS2/26, and replacement FCA general guidance, FG26/11. From 28 October 2026 the Housing Part of the PRA Rulebook stops capping each lender’s high…
On 13 October 2026 the Basel Committee on Banking Supervision published six Regulatory Consistency Assessment Programme (RCAP) reports on how Australia, Canada, Japan, Korea, Switzerland and the United Kingdom implement its leverage ratio framework. Australia, Japan, Korea and Switzerland were graded compliant, the highest overall grade. Canada and the UK were graded largely compliant, one…
FCA CP26/35, Fair redemption terms for authorised funds investing in illiquid assets, opened on 8 October 2026 and takes comments until 11 December 2026. It would require non-UCITS retail schemes (NURS) with at least 50% of scheme property in inherently illiquid assets to redeem no more than once a month and to apply a redemption…
On 7 October 2026 the Prudential Regulation Authority published CP13/26, Updating regulatory thresholds: An autopilot approach. It proposes PRA threshold indexation for 128 fixed amounts in the PRA Rulebook and in PRA guidance: each would rise with UK nominal GDP, first on 1 July 2031 and then every five years. Responses to the consultation, and…
The Basel Committee on Banking Supervision (BCBS) reported on 5 October 2026 that three quarters of its 27 member jurisdictions have published rules adopting the final Basel III standards, and that almost all of them have publicly announced that banks must apply Basel III by April 2027 or earlier. The figures come from the Committee’s…
Applications for FCA crypto authorisation opened at 9:00am on 30 September 2026, when the relevant application period set by the FCA’s direction under regulation 52 of the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 began. That period closes at 11:59pm on 28 February 2027. Firms apply through the FCA’s Connect system, and the…
On 30 September 2026 the Prudential Regulation Authority published a Dear CFO letter from David Bailey, its Executive Director for Prudential Policy, setting out thematic feedback on IFRS 9 expected credit loss (ECL) accounting. The PRA IFRS 9 ECL letter draws on the written reports that auditors of the major UK-headquartered banks and building societies…
On 25 September 2026 ITI Capital Ltd, an FCA-authorised broker that helped customers invest in shares and bonds and looked after those investments, entered special administration. Two insolvency practitioners from Teneo Financial Advisory Ltd were appointed as special administrators, and the FCA published a customer notice the same day. The firm had agreed on 10…
On 23 September 2026 the Financial Action Task Force published its mutual evaluation report on Türkiye, based on an on-site visit in November 2025. The FATF Türkiye mutual evaluation rates Recommendation 13, the correspondent banking standard, compliant, and puts 38 of the 40 Recommendations in the compliant or largely compliant bands. It also finds only…
The FCA money mule review published on 23 September 2026, “Money mules: mule activity and cashing out findings”, reports that the 35 retail banks, building societies, challenger banks, payment institutions (PIs) and e-money institutions (EMIs) it surveyed offboarded 238,396 suspected money mules in 2025, up from 184,935 in 2023 and 233,269 in 2024. Its sharper…