Regulatory News
FCA: CP26/30: Supporting equity market transparency and considering market structure developments/ CP26/31: Policy Statement for the framework for a UK equity consolidated tape and next steps for delivery
CP26/30 builds on Chapter 4 of CP25/20 and proposes targeted changes intended to reinforce transparency and market functioning, which recognise the growth of bilateral trading and support the establishment of a consolidated tape. CP26/31 contains final rules on the framework for a UK equity consolidated tape and the next steps for its delivery, including proposals on further aspects of how the equity consolidated tape will work. Responses are required by 16 October 2026.
FCA: Market activity reporter for shares
FCA has launched a market activity reporter for shares which provides visibility of overall UK equity market activity each day. A user guide and methodology document have been published and may be accessed via the following link.
FCA: Handbook Notice 143
The Handbook Notice sets out changes to the Handbook and other material as made by the FCA Board on 25 June 2026 and 30 July 2026.
For more information
PSR: CP26/2 Specific Direction 17 (Confirmation of Payee) – removing the expiry date and expanding the scope of directed firms
Specific Direction 17 is due to expire on 1 November 2026. PSR is consulting on proposals to remove the expiry date and views on whether it would be appropriate to expand its scope to place all payment service providers) currently offering confirmation of payee on equal regulatory footing, including those that offer it on a voluntary basis. Responses are required by 20 August 2026.
FCA: Regional financial development and growth in the UK
FCA has now published two independent research reports. The first report analyses bank lending to SMEs, branch density, stock market listings and fintech across UK International Territorial Level 2 regions from 2009 to 2023,. The second report considers what channels FS hubs contribute to UK GDP growth (including the relative contribution of London versus regional hubs), and whether regional FS hubs generate distinct growth benefits compared with additional growth in London.
For more information
- https://www.fca.org.uk/publications/external-research/regional-financial-development-and-growth-uk
- https://www.fca.org.uk/publication/external-research/regional-financial-development-growth-uk.pdf
- https://www.fca.org.uk/publication/external-research/role-played-financial-services-clusters-centres-local-city-regional-growth.pdf
PRA: LIAF02/26 – Low Impact Amendments Finalisation (July 2026)
Further to LIAC01/26, PRA has published its final policy which includes amendments to: the Countercyclical Capital Buffer Rates UK Technical Standard; SoP1/16 (relating to an amendment to the frequency of the O-SII designation exercise); the definition of firms in scope of the O-SII buffer in SoP1/16 and SoP4/16, and SoP1/20 (relating to the publication of Solvency II technical information).
PRA: PS18/26: Solvency UK: Post-implementation reporting and disclosure amendments and Own Funds permissions update
Further to CP22/25 and Proposal 1 of CP4/26, PRA has published feedback and final policy. These include a revised SS7/18 and amendments to reporting and disclosure templates and instructions.
PRA: LIAC02/26 – Low Impact Amendments Consultation (July 2026)
PRA is consulting on proposals relating to Solvency II reporting and on PRA liquidity rules. Responses are required by 11 September 2026.
HMT/FCA: Regulatory perimeter meeting
HMT has now published a record of the meeting held between Lucy Rigby and Nikhil Rathi on 30 April 2026 to discuss the March 2026 update to FCA’s Perimeter Report. Topics under discussion include: AI, investment consultants, SM&CR and finfluencers.
FCA/PRA: Strengthening resilience across an increasingly interconnected financial system
FCA/PRA have published a joint blog by Mark Francis and Simon Dixon on the new critical third party regime.
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