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KNF Consults on WIBOR Benchmark Replacement for Polish Banks

The National Working Group on Benchmark Reform, coordinated by KNF Poland, has published a draft Recommendation on determining interest rates for new agreements and replacing the WIBOR reference rate in existing Polish Zloty (PLN) agreements. The consultation invites public participation on the proposed framework. This marks a significant step in Poland's benchmark rate reform, aligning with global efforts to transition away from IBOR-style reference rates to risk-free rates.

Amends Rule 8210, Electronic Delivery via FINRA Gateway

FINRA filed SR-FINRA-2026-008 with the SEC proposing to amend paragraph (d) (Notice) of FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books). The amendment would specify that FINRA will deliver electronically its requests for information and testimony to member firms through FINRA Gateway.

Nasdaq PHLX Proposes 10% Fee Increase for Testing Facility Connectivity

Nasdaq PHLX LLC has filed a proposed rule change with the SEC to increase fees for its Testing Facility located in Carteret, New Jersey by 10%, raising the monthly hand-off fee from $1,000 to $1,100 and the one-time installation fee from $1,000 to $1,100. The Exchange cites the Data Processing and Related Services Producer Price Index as justification, showing cumulative inflation of approximately 13.59% since its last fee adjustment around 2017. The SEC is soliciting comments from interested persons on the proposed rule change.

IEX Rule 11.240 Amendment for Odd-Lot Reporting Under Regulation NMS

The Investors Exchange LLC (IEX) filed a proposed rule change with the SEC on April 10, 2026, to amend IEX Rule 11.240 (Trade Execution, Reporting, and Dissemination of Quotations). The amendment would add subparagraph (b)(3) to conform the Exchange's odd-lot reporting obligations with recently approved amendments to Rules 600 and 603 of Regulation NMS. The proposed rule change was designated as non-controversial by the Exchange under Rule 19b-4(f)(6)(iii). The compliance date for odd-lot information dissemination by the SIPs is May 1, 2026.

Nasdaq Proposes Adding Class ETF Shares to ETP Definition

Nasdaq filed a proposed rule change with the SEC on April 7, 2026, to amend Equity 1, Section 1(a)(15) by adding Class ETF Shares (per Rule 5703) to the definition of Exchange-Traded Product. The change would allow issuers of Nasdaq-listed Class ETF Shares to optionally use the Initial ETP Open halt process on launch day, opening trading via the Nasdaq Halt Cross rather than at the start of Pre-Market Hours at 4:00 a.m. ET. This extends to Class ETF Shares the same optional launch-day functionality already available to other ETP issuers.

Cboe Options Proposes Index Options Fee Schedule Changes

The SEC has published notice of a proposed rule change by Cboe Exchange, Inc. (Cboe Options) to amend its options fee schedule effective April 1, 2026. The proposal extends existing XSP fee codes to MRUT and DJX index options, deletes four MRUT-specific fee codes, adds DJX to existing Liquidity Provider sliding scale programs, and adopts six new fee codes (G1–G6) for newly listed SPESG and SPEQX index options.

Nasdaq Rule 4759 Data Feed Amendment to Add TXSE

The Nasdaq Stock Market LLC filed a proposed rule change with the SEC to amend Equity 4, Rule 4759, which lists the proprietary and network processor feeds used for order handling, routing, and execution. The amendment adds the new Texas Stock Exchange (TXSE) as a market center with primary (direct TXSE feed) and secondary (CQS/UQDF) quotation data sources, and updates exchange names to reflect recent renamings to Nasdaq Texas and NYSE Texas. The SEC is soliciting public comments through May 12, 2026.

Form N-Q Quarterly Holdings Disclosure Extension

The SEC published a 60-day Paperwork Reduction Act notice seeking public comment on reinstating the information collection request for Form N-Q under OMB Control No. 3235-0578. Form N-Q was rescinded effective August 1, 2019 because portfolio holdings information is now reported monthly through Form N-PORT under a separate OMB control number. The SEC is seeking to reinstate the Form N-Q ICR solely to formally discontinue it, as the underlying regulation and form have already been rescinded.

IEX Rule 11.240 Odd-Lot Information Reporting Amendment

The SEC published notice of IEX's proposed rule change to amend IEX Rule 11.240 to conform with recently approved amendments to Rules 600 and 603 of Regulation NMS concerning odd-lot information reporting and dissemination. IEX proposes to adopt subparagraph (c)(3) to address its odd-lot reporting obligations under the consolidated market data framework. The amendments to Rules 600 and 603 of Regulation NMS are to be implemented on May 1, 2026.

AFSA Calls for Evidence on Further Enhancement of AIFC Asset Management Framework

The Astana Financial Services Authority (AFSA) has launched a Call for Evidence to gather stakeholder feedback on potential enhancements to the AIFC Asset Management Framework. The consultation covers Specialist Funds, emerging fund structures, fund operations, and investor protection. Comments are requested by 28 February 2026.

CFTC and SEC Jointly Propose Amendments to Strengthen Disclosure and Reduce Private Fund Reporting Burdens

The CFTC and SEC jointly proposed amendments to Form PF, raising the private fund adviser filing threshold from $150 million to $1 billion in assets under management and the large hedge fund adviser threshold from $1.5 billion to $10 billion. The proposal would eliminate quarterly and current reporting requirements for smaller hedge fund advisers and streamline other Form PF requirements, reducing burdens for approximately two-thirds of current quarterly filers while maintaining information on over 80% of hedge fund gross assets.

SEC, CFTC Propose Raising Form PF Filing Thresholds

The SEC and CFTC jointly proposed amendments to Form PF that would significantly raise filing thresholds. The filing threshold would increase from $150 million to $1 billion in private fund assets under management, affecting advisers with assets between those levels. The proposal would also raise the exposure reporting threshold for large hedge fund advisers from $1.5 billion to $10 billion in hedge fund assets. The agencies state that Form PF would continue to collect information on over 90 percent of private fund gross assets. The public comment period will remain open until 60 days after publication in the Federal Register.

Registrar of Companies (Compliance Measures) Bill, 2026

The Anguilla Financial Services Commission has published for public consultation the draft Registrar of Companies (Compliance Measures) Bill, 2026, introducing supervisory and enforcement powers for the Registrar of Companies to perform regulatory oversight and support Anguilla's international obligations. The consultation invites written comments from financial services market participants by 16 February 2026.

Consultation on Proposed CSD Regulatory Framework

The Monetary Authority of Singapore published Consultation Paper P006-2026 seeking public comment on proposals to update and enhance the regulatory regime for central securities depositories. The consultation opened on 19 March 2026 and closed on 20 April 2026. This framework update targets market infrastructure providers operating as CSDs within Singapore's financial system.

Regulation on Administrative Determination Requests and Charges

The Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) proposes a new regulation establishing a uniform procedure for filing, evaluating, and issuing administrative determinations related to any law or regulation under OCIF jurisdiction. The proposal authorizes OCIF to establish applicable processing charges via circular letter. Written comments or requests for oral hearings may be submitted within 30 days of publication.

Regulation on Submission and Fees for Administrative Determinations

The Office of the Commissioner of Financial Institutions (OCIF) of Puerto Rico has published a Public Notice proposing a new Regulation establishing a uniform procedure for the submission, review, and issuance of Administrative Determinations under any law or regulation within OCFI's jurisdiction. The proposed Regulation also authorizes OCFI to establish fees for processing such requests by Circular Letter. A 30-day public comment period is open from the publication date.

Proposed Rule on Administrative Determination Requests and Fees

The Puerto Rico Office of the Financial Institutions Commissioner (OCIF) proposes a new regulation establishing a uniform procedure for requesting and issuing Administrative Determinations, including clarifications, non-objection determinations, and interpretations of laws and regulations under OCIF jurisdiction. The proposed rule authorizes OCIF to establish fees via circular letter for processing these requests and sets documentation, format, and timeline requirements for submissions. Financial institutions and other regulated entities requesting OCIF determinations will be subject to these new procedural requirements and potential fees.

Evaluation of the Alcohol Duty Reforms Invites Stakeholder Evidence

HMRC and HM Treasury have launched an evaluation of the 2023 alcohol duty reforms, inviting stakeholder evidence on impacts of structural changes to the duty system, duty administration modifications, and HMRC digital services. The evaluation is backward-looking and will not consider future reforms or duty rate decisions, which remain within the Chancellor's Budget authority. Submissions are being accepted from affected parties.

Bank of England Fees Regime for Financial Market Infrastructure Supervision 2026/27

The Bank of England is consulting on its supervisory fees for financial market infrastructure (FMI) for 2026/27. The consultation covers fee rates to meet the Bank's funding requirement for FMI supervisory activity and an extension to the phased recovery period for UK central counterparties (CCP) rulebook costs. Responses are requested by 18 May 2026.

ASIC Consults on FMI Reforms: Updates to RG 172, RG 249, and RG 268

ASIC is consulting on proposed updates to three regulatory guides (RG 172, RG 249, and RG 268) to align with the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024, which commenced in September 2024. The proposed updates reflect enhanced ASIC licensing, supervisory and enforcement powers, reallocation of powers between the Minister and ASIC, and expanded ASIC oversight of foreign entities operating FMIs with a significant Australian nexus.

Consultation on the Prudential Treatment of Cryptoassets on Permissionless Blockchains

The Monetary Authority of Singapore has published Consultation Paper P009-2026, seeking public comments on a proposed prudential treatment framework for cryptoassets held by banks and financial institutions. The consultation covers capital adequacy, credit risk, and liquidity risk treatment for cryptoassets on permissionless blockchains. Comments will be accepted until 11:59 PM on 18 May 2026.

Tax Measures Supporting Netherlands Startups and Scale-ups Internet Consultation

The Netherlands Ministry of Finance has opened an internet consultation until April 29, 2026 on two tax measures to support startups and scale-ups. The first measure would defer taxation on employee stock options until shares are actually sold, with only 65% of the benefit taxable during the startup/scale-up period. The second measure introduces a new definition of startups and scale-ups for box 3 wealth tax purposes, allowing qualifying companies to receive a determination from RVO that their shares are taxed under capital gains rules rather than annual wealth tax.

Submit Comment on Treasury Privacy Act System of Records

Treasury has published a notice (TREAS-DO-2026-0265) on Regulations.gov inviting public comments on its Privacy Act System of Records. The notice allows individuals and organizations to submit feedback on Treasury's privacy program records management. No specific compliance obligations or deadlines are stated in the comment form itself.

Privacy Act System of Records Notice 031 - Comments Due May 18

The Department of the Treasury has published Privacy Act System of Records Notice (SORN) 031 for public comment. The notice describes Treasury's system of records maintained under the Privacy Act of 1974. Comments on SORN 031 must be submitted by May 18.

MIAX Pearl Options Proposes Higher Annual Fees for Liquidity Taker Event Reports

MIAX Pearl, LLC filed a proposed rule change with the SEC on March 31, 2026, to amend its Options Exchange Fee Schedule. The Exchange proposes to increase annual fees for the Simple Order Report from $24,000 to $30,000 and the Resting Simple Order Report from $12,000 to $15,000. The proposal also establishes a new Purge Report with monthly fees of $4,000 or annual fees of $30,000, introduces a discount program for multiple annual subscriptions, and establishes a sunset period ending monthly subscriptions on December 31, 2026.

SEC Regulation 14N Paperwork Reduction Act 60-Day Comment Request

The SEC published a 60-Day Paperwork Reduction Act notice soliciting comments on Regulation 14N and Schedule 14N, which govern the filing of information by shareholders submitting director nominees pursuant to state law or company governing documents. The SEC estimates one response annually with 30 burden hours and $6,000 cost burden per response. Comments on this 60-Day Notice are due by June 16, 2026, with a second opportunity to comment following the Federal Register publication of a 30-Day Submission Notice.

MIAX Options Exchange Fee Schedule Amendment

MIAX Options Exchange filed a proposed rule change with the SEC to amend its Fee Schedule regarding Liquidity Taker Event Reports. The proposal would increase annual fees for the Simple Order Report and Complex Order Report from $24,000 to $30,000, increase the Resting Simple Order Report annual fee from $12,000 to $15,000, establish the new Purge Report at $4,000/month or $30,000/year, create a multi-report discount program, and sunset monthly subscriptions. The SEC is soliciting comments from interested persons.

CME Securities Clearing Proposes Enterprise Risk Management Framework

The SEC published notice that CME Securities Clearing Inc. filed a proposed rule change to establish an Enterprise Risk Management Framework under Section 19(b)(2) of the Securities Exchange Act of 1934. The ERMF consists of five parts: purpose and statement of framework, applicability, governance, risk universe, and enterprise risk management lifecycle. The SEC is soliciting comments from interested persons on the proposed rule change.

MIAX Emerald Options Proposes Fee Changes for Liquidity Taker Reports

MIAX Emerald, LLC filed a proposed rule change with the SEC to amend its Options Exchange Fee Schedule. The proposal would increase annual fees for Simple Order Report and Complex Order Report from $24,000 to $30,000 each, and for Resting Simple Order Report from $12,000 to $15,000. The Exchange also proposes to establish fees for a new Purge Report at $4,000 per month or $30,000 per year, introduce a multi-report discount program, and sunset monthly subscriptions to all Liquidity Taker Event Reports.

MIAX Sapphire Options Exchange Fee Schedule Amendment

MIAX Sapphire, LLC filed a proposed rule change with the SEC to amend its Options Exchange Fee Schedule. The proposal would increase annual fees for Simple Order Report and Complex Order Report from $24,000 to $30,000, and for Resting Simple Order Report from $12,000 to $15,000. The Exchange also proposes to establish new annual and monthly fees for the Purge Report at $30,000/year or $4,000/month, create a multi-report discount program, and sunset monthly subscription options. The SEC is seeking public comments on the proposed changes.

Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources

The SEC has issued a concept release seeking public comment on the Consolidated Audit Trail (CAT) system and other audit trails and data sources used for securities market surveillance. The release asks for feedback on the current effectiveness of CAT, potential improvements, and whether additional audit trails should be considered. The 65-day comment period closes June 22, 2026.

AMLA Public Consultation on Draft RTS for Third Country Subsidiaries and Branches

AMLA has launched a public consultation on draft Regulatory Technical Standards (RTS) establishing group-wide minimum requirements and additional measures for AML/FT controls applicable to EU financial institutions' subsidiaries and branches operating in third countries. The consultation, opened on 16 April 2026, will accept contributions until 15 July 2026. AMLA specifically invites private sector input to ensure the RTS align with operational practices.

Draft Guidelines on Business-Wide Risk Assessment

The European Anti-Money Laundering Authority (AMLA) launched a public consultation on draft guidelines for business-wide risk assessment on 16 April 2026. The consultation closes on 15 July 2026 and applies to a broad range of regulated financial entities including credit institutions, investment firms, crypto-asset service providers, payment institutions, and virtual asset service providers. AMLA is seeking input from the private sector to ensure the guidelines align with operational practices.

Bank Holding Company Merger Applications Under BHC Act, Regulation Y

The Federal Reserve Board is accepting public comments through May 18, 2026, on bank holding company merger applications filed under the Bank Holding Company Act of 1956 and Regulation Y. Applications include University Bancorp, Inc. (Ann Arbor, MI) to merge with Greater Pacific Bancshares (Whittier, CA) and indirectly acquire Bank of Whittier, National Association. Comments will be made available for public inspection at Federal Reserve Banks and the Board's Freedom of Information Office.

Regulated Fees and Levies: Rates Proposals 2026/27

The PRA proposes amendments to the Fees Part of the PRA Rulebook for 2026/27. The proposed Total Funding Requirement is £346.6 million, a decrease of £3.6 million (1%) from 2025/26. The Annual Funding Requirement is £329.3 million, a decrease of £7.1 million (2%). The consultation includes proposed fee rate changes for banks, building societies, insurers, and introduces new internal model application fees for Securities Financing Transactions VaR.

Public Hearing on BAN 1450 Readoption Regarding Risk Classification and Acceptable Collateral for Public Funds Deposits

The New Hampshire Banking Department proposes to readopt with amendment BAN 1450, which classifies deposits by risk level and defines acceptable collateral for securing public funds deposits. A public hearing is scheduled for May 14, 2026 from 1:00 PM to 2:00 PM at the department's Concord office. The proposed rule changes are available on the department's Laws, Rules and Guidance webpage.

Proposes Criteria for Commodity-Based Trust Options With Multiple Crypto Assets

MIAX PEARL, LLC proposes to amend Exchange Rule 402(i)(6) and Rule 403 to permit the listing and trading of options on Commodity-Based Trusts that hold multiple crypto assets, expanding on the current framework that only allows single crypto asset trusts. Each underlying crypto asset must have an average daily market value of at least $700 million over the last 12 months and must underlie a derivatives contract on a market with a comprehensive surveillance sharing agreement. The SEC is soliciting comments on the proposed rule change.

SEC PRA Notice Invites Comments on Schedule TO Tender Offer Information Collection Burden Estimates

The SEC is soliciting public comments on its proposed extension of the information collection requirements for Schedule TO (17 CFR 240.14d-100), the disclosure form used by persons conducting tender offers. The agency estimates the collection is filed 2.28 times annually by 259 respondents (591 total responses), with a burden of 22.38 hours and $8,949.93 cost per response, totaling approximately 13,227 annual burden hours and $5.3 million in annual cost burden. Comments are due by June 15, 2026.

Proposed Rule Change - Multi-Crypto Asset Commodity Trust Options Listing Criteria

MIAX Sapphire LLC filed a proposed rule change with the SEC on March 30, 2026, to amend Exchange Rule 402(i)(6) and Exchange Rule 403 to permit listing and trading of options on Commodity-Based Trusts holding multiple crypto assets. The proposal requires each underlying crypto asset to have a total global supply average daily market value of at least $700 million over the last 12 months and to underlie a derivatives contract on a market with a comprehensive surveillance sharing agreement. The Exchange characterizes this as a competitive filing substantively identical to a Nasdaq ISE proposal approved in September 2025.

Cboe BZX Exchange Proposes Clock Service for Time Synchronization

Cboe BZX Exchange filed a proposed rule change with the SEC on April 7, 2026, to amend Rule 21.15(b) and introduce the Clock Service—an optional time synchronization service allowing Members and non-Members to synchronize their primary clock devices to the Exchange's primary clock via White Rabbit time signals over a 1 Gbps Physical Port. The service aims to improve latency measurement accuracy between participants' systems and the Exchange by providing more granular time signals than the standard GPS network. The SEC is soliciting public comments on the proposed rule change.

SEC Form 5 Beneficial Ownership Annual Statement PRA Renewal

The SEC is soliciting comments on the renewal of Form 5 (OMB Control No. 3235-0362), the beneficial ownership statement required under Section 16(a) of the Securities Exchange Act of 1934. The collection applies to persons owning more than 10% of a class of equity security registered under Section 12, as well as directors and officers of such issuers. Respondents must file Form 5 on or before the 45th day after the issuer's fiscal year end. The SEC estimates 2,724 responses annually with an estimated annual burden of 2,724 hours. Comments are due June 15, 2026.

MIAX Sapphire Proposes Clarifying Changes to Trading Floor Rules

MIAX Sapphire, LLC filed a proposed rule change with the SEC on March 31, 2026, to make clarifying changes to Exchange Rules 2030, 2040, and 2055 governing trading floor operations. The changes clarify language around the submission of two-sided executed orders to the Exchange's System for post-trade workflows and align broker-dealer notification language to the order execution lifecycle. No changes to Exchange functionality, operation, or policy are proposed.

MIAX Sapphire Proposes Options Exchange Fee Schedule Amendment

MIAX Sapphire, LLC filed a proposed rule change with the SEC to amend its Options Exchange Fee Schedule. The proposal would establish a $0.20 per contract surcharge on Floor Market Maker orders when counterparty to Priority Customer complex qualified floor order (cQFO) transactions executed by a Floor Broker on the Trading Floor. The Exchange would pay Floor Brokers a corresponding $0.20 per contract rebate (Floor Broker Enhanced Complex Rebate) for such trades. The changes would be effective April 1, 2026.

Call for Evidence on Restricted Subscription and Private Credit Ratings

ESMA launched a call for evidence to gather stakeholder views on restricted subscription and private credit ratings, seeking information on their characteristics, use cases, benefits versus public ratings, contracting parties, and the comparability of analytical processes and internal controls. Responses are due by 31 May 2026 and will inform ESMA's assessment of whether regulatory adjustments to the CRA Regulation may be needed.

Concept Release on Consolidated Audit Trail and Other Audit Trails

The Securities and Exchange Commission issued a concept release seeking public comments on the Consolidated Audit Trail (CAT) and other audit trails and data sources used in regulating U.S. securities markets. The release asks for input on potential changes to rules governing audit trails, including funding mechanisms, market conditions, privacy and confidentiality concerns, cost-efficient technology solutions, and cybersecurity considerations. Comments are due 60 days after Federal Register publication.

IRS Requests Comments on Form 15397 Extension for Recipient Statement Furnishing

The Internal Revenue Service is soliciting public comments on the extension of a currently approved information collection (OMB Control No. 1545-2313, Form 15397) regarding applications for extension of time to furnish recipient statements to employees and contractors. The IRS estimates 35,000 responses annually with a total annual burden of 25,200 hours. Comments are due by June 16, 2026.

Increases Information Reporting Threshold to $2,000, Limits Wagering Loss Deductions to 90%

The IRS proposes amendments to income tax regulations under sections 165, 6041, and 6041A of the Internal Revenue Code. The proposal increases the information reporting threshold from $600 to $2,000 for payments made after December 31, 2025, reflecting changes enacted by the One, Big, Beautiful Bill Act (OBBBA). The proposal also limits the deduction for wagering losses to 90 percent of wagering losses during a taxable year, down from the prior 100 percent limitation.

Comment Request on Tuition Statement Information Collection Under PRA

The IRS published a notice inviting public comments on the information collection requirements related to Form 1098-T (Tuition Statement) under OMB Control No. 1545-1574. The notice requests comments on the necessity of the collection, accuracy of burden estimates, and ways to minimize burden on respondents. Comments are due by June 16, 2026. The collection covers approximately 24.8 million responses with an estimated 5.4 million annual burden hours.

SEC Seeks Public Comment on Consolidated Audit Trail

The SEC issued a concept release seeking public comment on the Consolidated Audit Trail and other audit trails used in U.S. securities market regulation. The 60-day comment period covers CAT funding and cost management, regulatory purpose, structure and governance, design and scope, and cybersecurity and data privacy. The SEC aims to balance privacy, civil liberties, and confidentiality considerations against regulatory needs.

Public Hearing on Amendments to NM Construction Codes 14.6.4-14.9.5 NMAC

The New Mexico Construction Industries Division announces a public hearing on April 21, 2026, to receive comments on proposed amendments to nine sections of the New Mexico Administrative Code. Proposed changes include amendments to journeyman certification requirements (14.6.4 NMAC), inspector qualifications and medical gas inspector re-certification (14.6.5 NMAC), and license classifications for residential and commercial plumbing, HVAC, hydronics, fuel gas, process piping, fire suppression and sprinkler systems (14.6.6 NMAC). Multiple 2021 building codes would be repealed and replaced with 2024 versions, and a new 2024 Medical Gas Code would be adopted.