FSSC: A workforce transformed – technology, skills and the future of work in financial services
FSSC’s first report for HMT provides a detailed view of how AI is reshaping tasks, roles, and skills within the financial services sector.
Last updated · 22 May 2026
Regulatory News - Financial Services & Regulation
See allFCA: Insurance financial crime controls – multi-firm review
FCA has reviewed the design of financial crime systems and controls across a selection of large insurance firms to see how effective they are. FCA found that they are mostly effective. There are areas, however, for some improvement and firms should follow good practice on risk assessments, client due diligence arrangements and transaction monitoring. Overall, FCA found that the life insurance sector was the strongest portfolio.
HMT: First Time Buyer ISA
HMT is consulting on a new product which is intended to be offered in place of the Lifetime ISA. Responses are required by 17 August 2026.
FATF: 17-19 June 2026 plenary
FATF has published a synopsis of the 17019 June 2026 plenary held in Paris. Amongst other matters, it is noted that FATF will publish a seventh targeted update on the implementation of the FATF Standards on virtual assets and virtual asset service providers in July 2026, consult on new guidance that will support the implementation of the strengthened FATF Standard on cross-border payment transparency, and will publish a report in September 206 which will examine how underground banking, hawala, and other similar service providers can be exploited by criminals.
FCA: CP26/20: Adapting our rules for a changing market: self-invested personal pensions
FCA is proposing rules with regard to due diligence requirements to reduce the risk of scams and fraud as well as a new Pension Scheme Money and Assets (PSM&A) regime which is intended to ensure firms protect and accurately record pension scheme money and assets where they use unauthorised trustees. Responses are required by 24 August 2026.
BoE: Sterling-denominated systemic stablecoins
Further to the November 2025 consultation, BoE has now published a policy statement, including feedback from stakeholders and draft Code of Practice (rules) for systemic stablecoin issuers. BoE has also published further questions for feedback in section 3 of the document. It is noted that targeted revisions to the proposals have been made with regard to backing assets and temporary issuance guardrails. Subject to feedback by 22 September 2026, BoE intends to finalise the Code of Practice by the end of 2026. Further supporting materials will follow alongside continued joint work with FCA (see section 3.3 for more details).