PRA: Thematic review of private equity financing
PRA recently concluded a thematic review of firms’ private equity financing risk management frameworks and has published the text of a “Dear CRO” letter to banks included in the review. The review specifically looked at the adequacy of banks’ risk management frameworks that govern their private equity linked financing businesses and related derivatives exposures. CROs are asked to review the findings and assess against current practices at their firms. PRA has also published the text of a speech by Rebecca Jackson, in which she sets out the findings of the review, noting that the review identified the trends of “creeping leverage, large exposures, complicated structures, and poor risk aggregation”.
Last updated · 13 Mar 2026
Regulatory News - Banking & Finance
See all Regulatory News - Banking & FinanceFCA: 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.
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.
The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2026/1010
The SI extends by a further 12 months the transitional regime for overseas qualifying CCPs contained within Article 497 of the UK CRR.
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