On 1 July 2026 the United Kingdom took over the two-year Presidency of the Financial Action Task Force and used its first day to launch the FATF 2026-2028 Roadmap on Combatting Fraud. The launch event, opened by the incoming FATF President Giles Thomson and supported by Executive Secretary Violaine Clerc, set fraud as one of…
On 8 July 2026 the Financial Action Task Force published a global stocktake of public-private partnerships for fighting illicit finance, and the message to reporting teams is blunt: the data that would expose a laundering network usually sits in fragments across separate banks, payment firms and law enforcement files, and criminals move faster than any…
From 1 January 2027, Articles 4, 4A, 4B and 5 of the UK Capital Requirements Regulation (CRR) are revoked. HM Treasury has restated selected definitions in domestic legislation, while the PRA’s CRR definitions restatement, finalised in Policy Statement PS14/26 on 27 May 2026, places other PRA-facing definitions in the PRA Rulebook Glossary or cross-refers from…
On 16 July 2026 the Financial Action Task Force published its seventh targeted update on how countries are implementing the FATF standards for virtual assets and virtual asset service providers. The headline finding is that implementation remains uneven. Of the 109 jurisdictions answering the Travel Rule legislation question, 91, or 83 percent, reported legislation in…
On 18 May 2026 the Prudential Regulation Authority sent a Dear CEO letter to the chief executives of UK banks and designated investment firms, reaffirming where the line sits between a deposit and everything that only looks like one. The PRA Dear CEO letter on innovations in the use of deposits, e-money and stablecoins, signed…
On 7 October 2024 the reimbursement requirement in PSR Specific Direction 20 became live, and every payment service provider that sends a Faster Payments transaction from a relevant UK account acquired two obligations at once. The first is reimbursement: where an FPS APP scam claim is reimbursable, the sending PSP must reimburse the consumer subject…
On 28 May 2026 the Prudential Regulation Authority closed the first phase of its PRA Pillar 2A review with policy statement PS15/26. The changes it confirms come into force on Friday 1 January 2027, the same day the PRA switches on the Basel 3.1 standards, and they land in the part of the capital stack…
On 18 May 2026, the Prudential Regulation Authority published a Dear CEO letter addressed to the chief executives of all banks and designated investment firms, signed by David Bailey, Charlotte Gerken and Rebecca Jackson. The PRA continues to expect a 100 per cent own-funds requirement under the market-risk framework for unbacked cryptoassets. Separately, where a…
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…