Why client allocation messages must be machine-readable
ESMA74-2119945926-3749 requires machine-readable allocation messages between investment firms and professional clients from December 7, 2026, ahead of EU T+1.
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Regulation
Enforcement, licensing and rule-making from the SEC, FCA, CySEC, ASIC and the rest.
210 stories since 2018 · page 2 of 11
October 2026
SEC proposes wider fund crosses under Rule 17a-7
The SEC proposal on Rule 17a-7 would let registered funds and BDCs cross level 2 securities. Comments on Release No. IC-36358 close on December 14, 2026.
ESMA shrinks the list for delaying inside information
ESMA's October 16, 2026 final report revises when an EU issuer may delay inside information under MAR. The UK still uses the older mislead-the-public test.
CJA 1993 and UK MAR still split the insider-dealing case
October 13, 2026 arrests do not decide guilt. UK insider dealing still splits between section 52 of the Criminal Justice Act 1993 and Article 14 of UK MAR.
ASIC tests a 10-year CFD product intervention order extension
ASIC's CS 64 asks whether the CFD product intervention order should run until 2037. Comments close at 5 pm AEDT on November 9, 2026, after a four-week window.
FSB letter puts Cross-border Vulnerabilities before the G20
Andrew Bailey's October 8, 2026 FSB letter, published October 12, centres Cross-border Vulnerabilities in global stablecoins for the G20 meeting on October 15.
FCA CP26/34 maps the 2028 transaction-reporting switch
CP26/34 maps the FCA's April 3, 2028 transaction-reporting switch, from correction rules and the User Pack deadline to the gap with EU MiFIR and the US CAT.
Fed extends Regulation O comments on R-1896 to 4 November
The Fed extended Docket R-1896 comments on Regulation O to November 4, 2026. Proposed insider-credit thresholds would rise fourfold, then track nominal GDP.
ESMA's call does not expand CCP collateral categories
ESMA's October 9, 2026 call tests tokenised CCP collateral under EMIR liquidity, haircut and default rules. No new asset class. Comments close January 15, 2027.
CP13/26 would lift 128 PRA thresholds with GDP
PRA consultation CP13/26 would index 128 thresholds to nominal GDP from July 1, 2031, then every five years. What stays out, including joint FCA lines.
NFL tells the Supreme Court sports contracts are gambling
The NFL told the Supreme Court on October 8, 2026 that sports event contracts are gambling, not swaps, in New Jersey's ungranted petition, No. 26-299.
What is a broker: the licence test the SEC left standing
What is a broker remains the Exchange Act test for effecting transactions for other people. The SEC order of September 17, 2026 did not waive section 3(a)(4).
CASS 7: how a UK CFD broker segregates client money
CASS 7 requires a UK CFD broker to segregate client money on statutory trust, reconcile it each business day and cap deposits with a group bank at 20%.
Rundschreiben 14/2026 narrows BaFin's CRR ancillary test
Rundschreiben 14/2026 adopts the EBA ancillary-services guidelines and narrows BaFin's dependence test on banking activity under CRR Article 4(1)(18).
Regulation CTX would route a leverage offer onto a DCM
The CFTC’s Regulation CTX notice would treat a retail leverage offer as the trade. What crypto asset market designation would require, next to the UK and MiCA.
Rule 501 notices test knowledge against the wealth gate
Five Rule 501(a)(10) notices would add a FINRA exam, CPAs, CFAs, CFPs and two FINRA licenses. The printed CFP notice sets comments due December 4, 2026.
Cash FX Group complaint maps the unregistered forex pool
Release 9304-26 and the September 24, 2026 complaint allege Cash FX Group took over $950 million in an unregistered forex pool. No penalty has been ordered.
Release 9306-26 extends UK swaps no-action to 2027
CFTC release 9306-26 extends Brexit no-action for UK swap dealers and 25 trading venues through December 31, 2027. Letter 26-28 is not a Commission order.
Advisers Act crypto custody proposal opens a self-custody path
The SEC's Advisers Act proposal of October 1 would allow self-custody of client crypto if no permitted custodian exists, and would admit state trust companies.
SEC staff FAQ treats a staking receipt as a digital tool
Staff FAQs dated September 28, 2026 treat a staking receipt as a digital tool, or a digital commodity from a protocol provider. They are not a Commission rule.
