Regulatory News
FCA: Fund applications and notifications
FCA has published a user guide on changes to the process for submitting UK authorised fund applications and notifications. From 2 November 2026, firms will need to submit certain fund applications and notifications using the FCA's Connect system from 2 November 2026. The changes are being introduced over a 2-year period. The forms referred to in the user guide will not be available in Connect until the service goes live on that date, after which the FCA will not accept these applications and notifications via any other submission method.
PSR: Confirmation of payee system
PSR has published policy statement PS26/2 confirming its decision to remove the expiry date from Specific Direction 17 (SD17), which requires most payment service providers to provide a confirmation of payee (CoP) service. This means CoP will continue protecting consumers and businesses after 1 November 2026, when SD17 was due to expire. The change is made by Specific Direction 17a (SD17a), which was made on 16 October 2026, came into force on 22 October 2026 and has been published alongside PS26/2. PSR intends to review the regulatory requirement to provide CoP in five years to ensure it remains necessary and proportionate.
FCA: GC26/7: Decentralised Finance
FCA has published a guidance consultation paper on decentralised finance (DeFi) to help firms understand how existing operational resilience and financial crime requirements may apply when they provide financial services using DeFi. The draft non-Handbook guidance is set out in Annex 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in January 2027.
FCA: CP26/36: Cryptoasset perimeter guidance
FCA has published a consultation paper CP26/36 on changes to its Perimeter Guidance manual (PERG) to reflect the amendments to the cryptoasset regime introduced by the Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026. The changes explain FCA’s view of how the amendments in the legislation apply, and how the new exclusions interact with the regulated cryptoasset activities. The amended draft Handbook text is set out in Appendix 1. Responses are required by 18 November 2026. FCA intends to publish final guidance in spring 2027.
HMT: UK-Singapore Financial Markets Dialogue – joint statement
HMT has published a note of the UK-Singapore Financial Markets Dialogue which took place on 20 October 2026. Topics include: digital finance and innovation; capital markets, and sustainable finance.
FCA: Further information for firms on the Motor Finance Compensation Scheme
FCA has revised this document aimed at firms, and based on queries received by the regulator. It includes a note which sets out specific additions made to the report.
FCA: Speech by Jessica Rusu: Building the future of finance in the age of AI
Text of Jessica Rusu’s speech of 19 October 2026 follows in which she discusses the publication of the good and poor practice review, highlighting the areas of consumer centricity; accountability and governance, and operational resilience.
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FCA: AI in financial services – good practice and areas for improvement
FCA has published examples of good practice and areas for improvement from industry engagement, supervisory work and the AI Lab initiatives, including AI Live Testing and the Supercharged Sandbox.
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BIS: AML/CFT supervisory newsletter
BIS has published this summary of key themes and challenges discussed in recent supervisory exchanges and workshops related to AML/CFT. Specific areas covered include risk assessment and the role of AI in transaction monitoring.
PSR: CP26/3: Regulatory framework for access to payment systems
In light of the plans for the transfer of PSR’s responsibilities to FCA, PSR is consulting on proposals to update the regulatory framework for access to payment systems. These proposals include the updating of PSR General Direction 2 and relevant PSR guidance, as well as the revocation of General Direction 3. Responses are required by 10 December 2026.
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