Banking & Finance

UK Financial Ombudsman and FCA Modernise Redress System

The UK Financial Ombudsman Service (FOS) and the Financial Conduct Authority (FCA) are implementing measures to modernise the financial redress system. These changes aim to ensure consumers receive fair and timely compensation while providing businesses with greater certainty. Key reforms include a new registration stage for complaints.

FRC Guidance on Flexible Governance Reporting

The Financial Reporting Council (FRC) has published new guidance to help investors and advisors better understand flexible governance reporting. The guidance aims to encourage recognition of the value in companies thoughtfully departing from the UK Corporate Governance Code with clear explanations.

Federal Reserve Sunshine Act Meeting Notice

The Federal Reserve Board announced an open meeting scheduled for March 19, 2026, to discuss proposed revisions to capital rules for large banking organizations and adjustments to the surcharge for global systemically important banking organizations. The meeting will be webcast.

ASIC Refreshes Moneysmart Website for Young Australians

ASIC has refreshed its Moneysmart website to improve accessibility and relevance for young Australians seeking financial guidance. The update includes a new design, updated content, and fresh imagery to provide trusted, independent financial information.

ASIC Extends Short Selling Relief for Precious Metal ETP Market Makers

ASIC has extended conditional short selling relief for appointed market makers in precious metal-backed exchange-traded products. This amendment, effective February 3, 2026, aims to support market liquidity and reduce settlement failure risk for specified structured products.

ASIC Consults on Bolstering Transparency for Listed Entities

ASIC is consulting on proposals to enhance corporate transparency for entities listed on Australian financial markets. The reforms, stemming from the Treasury Laws Amendment Act 2025, aim to increase investor visibility of ownership and control, including through equity derivatives. Feedback is due by April 21, 2026.

ASIC Withdraws and Updates Regulatory Guides

The Australian Securities and Investments Commission (ASIC) has withdrawn Regulatory Guide 64 (Failure to lodge documents) and Regulatory Guide 40 (Good transaction fee disclosure). ASIC also made minor updates to Regulatory Guide 104 (AFS licensing: Meeting the general obligations) and Regulatory Guide 205 (Credit licensing: General conduct obligations) to improve clarity and accuracy.

ASIC Eases PDS Rules for Strata Insurance Providers

ASIC has introduced new relief measures for residential strata insurance providers. Under the changes, only the lead insurer will be required to prepare a Product Disclosure Statement (PDS), with a supplementary PDS listing other participating insurers.

BondAuction Europe B.V. Fined €10,125 for Capital Shortfall

De Nederlandsche Bank (DNB) imposed an administrative fine of €10,125 on BondAuction Europe B.V. for repeatedly failing to maintain sufficient own funds. The firm experienced capital shortfalls on two occasions within a 25-month period, falling below the minimum requirement of €75,000.

DNB Resilience Programme for Geopolitical Risks

De Nederlandsche Bank (DNB) has launched a resilience programme to identify and strategize against geopolitical risks impacting the financial sector and its own operations. The programme assesses various scenarios, including cyber threats and operational disruptions, and aims to enhance organizational agility and efficiency.