ESMA Consults on CCP Collateral and Investment Policy

The European Securities and Markets Authority (ESMA) has launched a public consultation on proposed changes to central counterparty (CCP) collateral and investment policies, stemming from EMIR 3. The consultation seeks feedback on the acceptance of various guarantees as collateral and the eligibility of debt instruments for CCP investment policies, with a deadline for responses on April 30, 2026.

ESMA Withdraws MiFID II/MiFIR Market Data Guidelines

The European Securities and Markets Authority (ESMA) has withdrawn its guidelines on MiFID II/MiFIR obligations concerning market data. This action aligns the regulatory framework with new technical standards that entered into force in November 2025, aiming to simplify rules for market participants.

New York Declares Disaster Emergency Due to Nor'easter

New York Governor Kathy Hochul declared a disaster emergency effective February 22, 2026, due to a nor'easter impacting numerous counties. The order suspends certain statutes to facilitate response and recovery efforts, including waiving procurement processes and hours of service rules for utility restoration crews.

AEPD Resolution on Rights Procedure and Labor Dispute

The Spanish Data Protection Agency (AEPD) has issued a resolution regarding a data rights procedure initiated on June 2, 2025. The case involves a former employee's claims against FENG SHENG SUSHI, S.L. concerning alleged falsification of a labor contract, denial of access to personal data, and improper use of banking information.

Ofcom Fines Porn Company £1.35m for Lack of Age Checks

Ofcom has fined pornographic company 8579 LLC £1.35 million for failing to implement effective age verification measures as required by the UK's Online Safety Act. The company also received a £50,000 fine for failing to respond to a legally binding information request. These actions underscore Ofcom's commitment to protecting children online.

International Data Protection Authorities Joint Statement on AI Imagery Risks

Sixty-one international data protection authorities have issued a joint statement outlining privacy risks associated with AI-generated imagery. The statement addresses concerns about the creation of realistic images and videos of individuals without consent, particularly highlighting potential harms to children. It urges responsible AI development and deployment.

Paxton Secures Injunction Against Xcel Energy for Wildfire Risk

Texas Attorney General Ken Paxton has secured a temporary injunction against Xcel Energy, requiring immediate action to replace damaged utility poles and conduct rigorous inspections to mitigate wildfire risks. This action follows the devastating Smokehouse Creek Fire, which Xcel Energy admitted was caused by a broken utility pole.

Supreme Court Denies Huntington Beach Housing Law Challenge

California Attorney General Rob Bonta announced the U.S. Supreme Court denied Huntington Beach's challenge to state housing laws. This decision upholds a Ninth Circuit ruling and requires Huntington Beach to comply with state housing mandates, with ongoing litigation in state court to ensure compliance.

OSFI Superintendent Discusses Mortgage Regulation and Financial System Resilience

OSFI Superintendent Peter Routledge discussed the future of mortgage regulation, including the retention of stress tests and LTI limits, and OSFI's ongoing regulatory modernization efforts. The speech highlighted OSFI's commitment to adapting its framework based on feedback from regulated institutions.

EU Legislation and Notices - February 23, 2026

The EU published several legislative acts and decisions on February 23, 2026. These include implementing regulations concerning restrictive measures in Russia, amendments to active substance approvals for biocidal products, and a decision on Iceland's participation in the Union Space Programme.