Tom Callaby | CMS
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ESMA supervisory briefing on algorithmic trading in the EU
Key points and practical implications in the areas of governance, testing, outsourcing, and pre-trade controls.
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Treasury and PRA consult on UK Capital Requirements Regulation regime
Firms should prepare for PRA Rulebook migration, revised overseas recognition mechanics, and operational updates to policies, systems, and reporting.
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FCA publishes second paper on prudential regime for cryptoasset firms
A summary of the key proposals, drawing out the practical implications and next steps for affected businesses and markets.
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PRA finalizes climate risk expectations
The PRA has issued a principles-based, proportionate framework of expectations for firms to manage climate-related financial risk.
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Shortening the cycle with faster settlement of investment fund trades
The UK is preparing to transition to a T+1 securities settlement cycle on October 11, 2027, in line with other jurisdictions.
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FCA consults on changes to the UK short-selling regime
The reforms would largely preserve the current UK short-selling framework while reflecting the updates of the SSR 2025 and introducing targeted operational changes.
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Preparing UK market access for Swiss financial services firms after the Berne Financial Services Agreement
New regime comes into effect in early 2026.
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PRA publishes updated supervision framework for international banks
A guide to PRA’s final rules and policy on its approach to branch and subsidiary supervision.