The FCA said the changes are part of its plans to give wholesale firms the confidence to apply the Duty proportionately.
Wholesale markets
Analysis of ACER's Q1 2026 regulatory updates: a shift from preparation to active enforcement.
The report is a useful indicator of where the FCA expects firms to focus now.
This move reflects the FCA's strategy to become a more responsive and outcomes-focused regulator.
A dive into the FMSB's findings on wholesale markets: changes to market participation, trade execution electronification, new asset classes, and shifting geography markets.
CNMC reminds us that even an attempt to manipulate is a breach of REMIT. We compare the case with recent fines and look at ACER guidance on market manipulation.
Notable changes include: new obligations for third-country market participants; order book reporting by organised marketplaces; and expansion of REMIT’s scope.
Enforcement
Premium
Gesternova S.A. fined €6m and Axpo Iberia fined €1.5m for electricity market manipulation
The Spanish energy regulator found that the companies had manipulated the market by giving false or misleading statements aka "quote stuffing".