HKEX Issuer Access Platform will become the primary channel for issuers, advisers to submit regulatory filings, communicate with HKEX Advisers’ onboarding to start from July 2026; issuers to follow in phases from October 2026 Enhancements to the HKEX website to enable the display of issuers’ information on a centralised portal following completion of issuer onboarding  Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Monday) it plans to launch the HKEX Issuer Access Platform (HKEX IAP) in the fourth quarter of this year, marking an important step in the digitalisation of issuer services and regulatory communications. HKEX IAP will serve as the primary platform for listed issuers and their advisers to submit regulatory filings and interact with the Exchange on regulatory matters, providing a secure, centralised, web-based channel for efficient two-way communication. To support the planned Q4 launch and to ensure a smooth and orderly transition, registration and onboarding for HKEX IAP will be conducted in phases. Advisers are expected to begin onboarding from July 2026, while issuers will follow starting from October 2026 through to the second quarter of 2027, with issuers receiving at least 12 weeks’ advance notice ahead of their transition to the platform. Following the completion of the transition to HKEX IAP, HKEX will launch a redesigned, dedicated portal on its website to consolidate issuer information, such as executives’ details, corporate events and other key dates. Investors will have near real-time access to this information as issuers update their records, further enhancing market transparency and accessibility. HKEX Head of Listing, Katherine Ng, said: “The launch of HKEX IAP marks an important step in HKEX’s ongoing commitment to strengthen the competitiveness of Hong Kong’s markets and future-proof our market infrastructure. The platform reflects our focus on leveraging digitalised tools to improve efficiency, deepen regulatory engagement and promote greater transparency across the market ecosystem, whilst further enhancing market accessibility. We would like to thank issuers and stakeholders for their continued support.” More information on HKEX IAP, including onboarding arrangements and related guidance materials, is available on the HKEX IAP webpage.

Wholesale financial businesses involved in retail markets will find it easier to comply with the Consumer Duty, following proposals from the FCA. The changes are part of the FCA's plans to give wholesale firms the confidence to apply the Duty proportionately. Under the proposals, firms will benefit from: Removing business for genuinely non-UK customers from the Duty’s scope where there is no clear UK link or reasonable expectation of UK protection. Clearer boundaries around what is out of scope, so they can focus on running their business rather than having to show that the Duty does not apply. More clarity on firms’ responsibilities when they work together, including across distribution chains and in the design of complex products. Simon Walls, executive director of markets, said: 'The Consumer Duty is helping deliver good outcomes and build confidence for retail consumers, but it was never intended to become a Wholesale Duty imposing on deals between sophisticated parties. That's why we are refining its scope to provide greater clarity to wholesale markets, and keep the focus on the consumer outcomes it was created to improve.' The FCA has today also published proposals to further simplify its insurance rules, while maintaining appropriate levels of consumer protection.   The FCA will continue to engage firms and other stakeholders to support effective implementation of the Consumer Duty and ensure it delivers good outcomes across markets. Background The FCA’s wholesale Duty consultation. The FCA’s 4-point plan (PDF) on addressing concerns about the Consumer Duty and wholesale markets. The FCA's insurance simplification consultation. 

The MENA Fintech Association (MFTA), the region’s leading not-for-profit fintech industry body and globally ranked among the top fintech associations, is pleased to welcome Fimple, a next-generation cloud-native core banking platform provider, as a new corporate member. MFTA continues to play a central role in advancing collaboration, innovation, and regulatory engagement across the Middle East and Africa. Fimple joins MFTA at a time when banks, fintechs, and financial institutions across the region are accelerating digital transformation initiatives and seeking more agile, scalable, and future-ready banking infrastructure. As financial services providers increasingly modernize legacy systems and embrace embedded finance, Banking-as-a-Service (BaaS), and digital-first business models, cloud-native core banking platforms are becoming a critical foundation for innovation and growth. Founded in 2022, Fimple provides a composable, API-first, cloud-native banking platform designed to help financial institutions launch products faster, reduce operational complexity, and adapt quickly to evolving business, market, and regulatory requirements . Its platform enables banks and fintechs to deploy modular financial services across payments, lending, deposits, trade finance, treasury, customer management, and digital banking channels through a flexible Financial Functions as a Service (FFaaS) model. Today, Fimple supports more than 20 financial institutions globally and operates across key markets including the United Kingdom, UAE, Türkiye, Egypt, Azerbaijan, and other growth markets. The company’s cloud-native architecture, microservices-based design, and API-first approach enable institutions to accelerate innovation while maintaining operational resilience and scalability. As part of its engagement with the Association, Fimple will contribute its expertise to MFTA’s ecosystem initiatives focused on digital banking, core modernization, embedded finance, open finance, and next-generation financial infrastructure. The company’s experience supporting both conventional and Islamic banking models aligns closely with the region’s evolving financial services landscape. Mücahit Gündebahar, CEO, Fimple, commented:  "We are delighted to join the MENA Fintech Association and become part of one of the region's most influential fintech ecosystems. At Fimple, we believe the future of banking lies in flexible, cloud-native, and composable technology that enables institutions to innovate faster and respond more effectively to changing customer expectations. We look forward to collaborating with MFTA members, regulators, and industry leaders to help accelerate the next phase of financial services transformation across the MENA region." Amr Kandel, GCC Country Manager, Fimple also commented: "The GCC market continues to be one of the most dynamic and innovation-driven banking environments globally. Joining MFTA represents an important milestone in strengthening Fimple's engagement across the region. We are committed to working closely with banks, fintechs, and ecosystem partners to support their modernization initiatives and help deliver the next generation of digital banking experiences." Nameer Khan, Chairman of the MENA Fintech Association and Founder of Fils, added: "The future of banking in MENA will not be built on legacy infrastructure - it will be built on platforms designed for the pace of change we are already living. Fimple’s cloud-native, composable approach to core banking is precisely the kind of capability our ecosystem needs as financial institutions move from digitising processes to reimagining them entirely. We welcome Fimple to the MENA Fintech Association and look forward to the value they will bring to the region’s financial architecture.”

JPX Market Innovation & Research, Inc. (JPXI) is pleased to announce that, as of June 29, 2026, we will begin providing the 10-level Order Book Historical Data Set (hereinafter referred to as “Dataset”), which is derived from market data messages (hereinafter referred to as “FLEX Messages”) provided by Tokyo Stock Exchange and processed to facilitate the reconstruction of order books.JPXI provides "FLEX Historical," a historical database compiled from daily FLEX Message records. FLEX Historical provides detailed raw data on orders and executions, enabling investors and other data users to perform advanced analyses (such as liquidity/execution analysis and trading strategy development) by constructing order book data and processing the information.Furthermore, this newly launched Dataset consists of FLEX Historical messages in packet capture format that have been pre-processed into order book data and formatted, allowing users to focus more fully on their analytical work. 10-Level Order Book Historical Data Eliminates the user’s work by converting packet capture data in FLEX Historical to order book data and performing other additional data formatting. Maintains update numbers with a strict sequence, allowing for reproduction of order book data in the exact order. Provides a wide range of quote information, including the top 10 quotes and market orders, in addition to the most recent execution price and best bid/ask quotes. Provided through Snowflake’s data sharing feature. See the link below for data specifications, etc. 10-Level Order Book Historical Data Contract and Application Users can apply to use this service by agreeing to the “Terms and Conditions for JPX Market Innovation & Research, Inc. Information Services” and entering into a contract with JPXI.Applications for new contracts can be submitted via JPxData Portal JPxData Portal (for the new contract application)JPxData Portal For any inquiries regarding 10-Level Order Book Historical Data, see the contact information below. Contact JPX Market Innovation & Research, Inc.　Client ServicesTEL:+81-050-3377-7831E-mail:tminfo@jpx.co.jp

The Federal Court has ordered Mercer Super pay penalties totalling $10.3 million for systemic failures to report investigations into significant member services issues to ASIC, including an investigation into insurance premiums continuing to be charged after members had died, and only refunded later. The Court found that between October 2021 and September 2024, Mercer Super’s systems for complying with the Corporations Act’s reportable situations regime were inadequate. The regime requires Australian financial services licensees to promptly notify ASIC of investigations into potentially significant breaches of their core obligations. The Court also found that Mercer Super failed to report seven reportable investigations to ASIC at all and it reported another investigation late. In relation to the investigation that was reported late to ASIC, the Court found that Mercer Super failed to take all reasonable steps to ensure the reports to ASIC were accurate and provided false or misleading information which understated the number of members impacted by the incident being investigated. The investigations that Mercer Super either failed to report on time or did not report at all included investigations concerning: failure to update member accounts which led to higher fees and less favourable insurance policies applying to members failure to allocate $64 million in member funds in a timely manner, and failure to provide death and total and permanent disability insurance cover for eligible members. ASIC Chair Sarah Court said the systemic deficiencies and conduct identified were inappropriate for a superannuation trustee of Mercer Super’s size and market position. ‘These failures undermined a critical safeguard designed to protect consumers and exposed fundamental weaknesses in Mercer Super’s systems and processes. ‘This was not an isolated oversight. It was a sustained systemic issue that continued for years after the regime was introduced, which is unacceptable for a fund entrusted with $80 billion worth of retirement savings for more than a million members. ‘When investigations into serious member service issues are not reported to ASIC as required by law, this can allow problems impacting members to persist unchecked, increasing the risk of ongoing harm. 'The Court's decision sends a strong message to the superannuation sector that accurate and timely reporting is not optional and when a fund falls short, we will take action.’ In handing down the decision, her Honour Justice Button found that ASIC’s supervisory role had been seriously compromised given the duration of the investigations that Mercer Super failed to report. Her Honour also found that Mercer Super was on notice that its compliance systems were not adequate and of the risk that investigations were not being identified and reported to ASIC as required. The reportable situations regime is intended to give ASIC early visibility of misconduct, ensure licensees prioritise investigations and remediation, and strengthen transparency across the financial services sector. Holding super trustees to account for member services failures is one of ASIC’s 2026 enforcement priorities. Download Judgment Background Mercer Super is the seventh largest super fund in Australia by members with over one million members and almost $80 billion in assets under management. Separately, in August 2024, Mercer Super was fined $11.3 million after it admitted making misleading statements about the sustainable nature and characteristics of some of its superannuation investment options (24-173MR). The proceedings form part of ASIC’s broader focus on lifting standards across the superannuation sector and improving outcomes for members. In November 2025, United Super Pty Ltd, the trustee of the Construction and Building Unions Superannuation Fund (Cbus), was ordered to pay a $23.5 million penalty for serious failures in processing members death benefits and insurance claims (25-286MR). In May 2026, the Federal Court found Telstra Super failed to comply with its internal dispute resolution procedures with about one third of complaints made between October 2021 and January 2023 not answered within 45 days and some delayed over 100 days. A penalty hearing on the matter is pending (26-091MR). In March 2025, ASIC commenced Federal Court action against AustralianSuper Pty Ltd, the trustee of Australia’s largest superannuation fund, alleging delays in the processing of nearly 7,000 death benefit claims (25-034MR). In March 2025, ASIC handed down 34 recommendations to super trustees to improve the way they handle death benefit claims (25-049MR). Background: On 29 June 2026 an amended judgment was added to this media release.

The Dubai Financial Services Authority (DFSA) has published its first Conduct Supervisory Pulse (Pulse), sharing key observations from a thematic review of Personal Account Dealing (PAD) arrangements across brokerage firms in Dubai International Financial Centre (DIFC). This is part of a broader programme of deep-dive supervisory engagement sessions being undertaken jointly by DFSA Conduct Supervision and Markets teams throughout 2026 under the DFSA’s thematic review on oversight of the trading environment. Effective oversight of the trading environment in brokerage firms is critical for protecting investors and maintaining market integrity. The first phase of the review focuses on PAD as one of three key priority areas relevant to brokerage firms’ oversight of the trading environment, with best execution and communication channels and record keeping to follow shortly. The review was conducted against a backdrop of continued growth across the DIFC brokerage sector. Since 2022, the number of authorised brokerage firms has increased by more than 60%. Headcount, profitability, and transaction volumes have also increased significantly. As firms’ trading activities continue to expand, having effective controls and monitoring of personal trading by employees is an essential component of both broader trading oversight and market conduct risk arrangements. A key observation from the review was the importance of proportionality. As the sector continues to grow and evolve, firms should ensure that their PAD frameworks remain aligned to the nature, scale, and complexity of their business activities, products, employee roles and risk profile. The Pulse highlights examples of positive indicators observed across firms varying in scale and complexity. These included: Comprehensive and tailored PAD policies and procedures; Centralised pre-trade approval processes; Periodic compliance monitoring; Clear escalation and management of breaches; and Use of management information to support senior management and Board oversight. The review also identified areas where firms should consider strengthening their PAD arrangements, including to address over-reliance on employee declarations, limited post-trade monitoring, and poor record-keeping practices. The publication includes practical examples of positive indicators and indicators requiring enhancement across six key areas: Policies and procedures; Governance, management information, and oversight; Monitoring and surveillance; Compliance oversight and monitoring; Training and awareness; and Record keeping. The DFSA encourages all relevant firms to consider the observations outlined in the Pulse and assess whether enhancements to their own PAD frameworks may be appropriate. The remaining phases of the thematic review will focus on best execution, and communication channels and record keeping, with further observations to be shared as the review progresses. Access the DFSA Conduct Supervisory Pulse – Brokerage Thematic Review: Oversight of the Trading Environment: Personal Account Dealing.

The following is the weekly trading summary for DFM Regulated Short Sell Transactions for the abovementioned period. ** No RSS Trades for the period from 22nd June 2026 to 26th June 2026. For further information on RSS, please check the DFM Market Rules Module Three Membership, Trading, And Derivatives Rules & Operational Model and Procedures for Implementation of Regulated Short Selling available at  http://www.dfm.ae/the-exchange/regulation/market-rules This Dubai Financial Market Announcement will be available on the website at  https://www.dfm.ae/the-exchange/news-disclosures/market-announcements

This year's Annual Economic Report examines how the global economy is faring as progress meets rising perils – including a new fiscal-financial stability nexus and shifting inflation dynamics. Editorial: From resilience to robustness? Chapter I: Progress and perilDriven by progress in AI, the global economy weathered shocks, but mounting risks call for prioritising price and financial stability, as well as fiscal sustainability. Chapter II: High public debt and shifting financial markets: challenges for central banksCentral banks face mounting challenges from the interplay of high public debt with the growing role of non-banks. Chapter III: Anchoring trust in money: innovation beyond stablecoins (pre-released on 23 June 2026)Digital innovation is transforming finance. It creates opportunities, but also poses challenges and raises the question on how to preserve trust in money. Press release: Global economic pressure points call for policy discipline: BIS  Annual Report 2025/26Our Annual Report introduces the BIS's new strategy and shows how the BIS has supported stakeholders throughout the year.    Annual General Meeting 2026  Speech by Pablo Hernández de Cos, General Manager: Strengthening foundations for the future Speech by Frank Smets, Acting Head of Monetary and Economic Department: Anchoring trust in money: innovation beyond stablecoins

Click here to download Tehran Securities Exchange's weekly market report.

A total turnover of 2.324 billion shares worth ₦134.486 billion in 249,328 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.075 billion shares valued at ₦254.614 billion that exchanged hands last week in 287,157 deals.  Click here for full details.

Nasdaq (Nasdaq: NDAQ) today announced that Space Exploration Technologies Corporation (Nasdaq: SPCX) will become a component of the Nasdaq-100 Index® prior to market open on Tuesday, July 7, 2026. For additional information, including notifications on changes to any Nasdaq Indexes, please go to https://indexes.nasdaq.com/

Nasdaq, Inc. (Nasdaq: NDAQ) today announced the Nasdaq Closing Cross had a record day as it was used to rebalance Nasdaq-listed securities in the entire family of Russell US Indexes, which includes the Russell 1000, Russell 2000, and Russell 3000. This year marks the 23rd year that the Closing Cross has been used to calculate the Russell Reconstitution, which occurs semi-annually to reflect shifts in the market capitalization, sector dominance, and style orientation of publicly traded US companies. 4,594,880,616 shares, representing a record $334.027 billion, were executed in the Closing Cross in 1.630 seconds across Nasdaq-listed securities, representing the largest liquidity event on the Nasdaq Stock Exchange for the Russell Reconstitution. The new milestone surpasses 2025’s trading volume, which represented 2,506,428,416 shares, totaling $102.455 billion, executed in 0.871 seconds across Nasdaq-listed securities during Russell's annual reconstitution. "US equity markets have grown materially in scale and complexity, and Russell Reconstitution is one of the clearest tests of that,” said Kevin Kennedy, EVP, North American Markets, Nasdaq. “Today's record shows the infrastructure underpinning the US market close continuing to scale with the market it serves, delivering a single, transparent closing price across record volume in under a second. That is the precision investors expect, and what US market infrastructure is built to deliver.” “Russell Reconstitution is a cornerstone event for the US equity markets, ensuring the full suite of Russell US Indexes remain precise and representative of the ever-evolving marketplace,” said Fiona Bassett, CEO of FTSE Russell. “Today’s record notional volume underscores the continued trust the investment community places in our transparent and rules-based process. We’re proud to celebrate the successful completion of this year’s first semi-annual rebalancing with our longstanding friends at Nasdaq, marking another milestone in our shared commitment to market integrity and efficiency.” The Closing Cross brings together buy and sell interests executing all shares for each stock at a single price, one that reflects the accurate supply and demand for these securities. The technology reflects each symbol’s true supply and demand, providing unparalleled insight into the market close. All Russell US Indexes are subsets of the Russell 3000E™ Index, which represents approximately 98% of the US equity market. Russell US Indexes allow investors to track current and historical market performance by specific market segment (large cap/small cap) or investment style (growth/value/defensive/dynamic). Today, approximately $10.6 trillion in assets are benchmarked to or invested in products based on the Russell US Indexes. Russell Reconstitution Day is one of the year’s most highly anticipated and heaviest trading days in the US equity market, as asset managers seek to reconfigure their portfolios to reflect the composition of Russell's newly reconstituted US indexes. The index reconstitution process was completed today, and the newly reconstituted index membership will take effect when markets open on June 29, 2026. Please visit our website for more information on the Nasdaq Closing Cross. Since the Nasdaq Closing Cross began calculating the Russell Reconstitution over two decades ago, the Cross has reduced latency by over 85% while effectively keeping pace with an increasing trade volume growth of over 550% and an increasing notional volume growth of over 1500%. To maintain the liquidity and resiliency of its systems during these evolving market conditions, Nasdaq has made considerable investments in market modernization and capacity enhancement. These efforts are consistent with Nasdaq's broader commitment to providing technology solutions that enhance transparency and support the global financial ecosystem.

The current reports for the week of June 23, 2026 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data. Additional information on Commitments of Traders (COT) | CFTC.gov Historical Viewable Historical Compressed COT Release Schedule CFTC Public Reporting Environment (PRE) PRE User Guide PRE Frequently Asked Questions (FAQs)

The Canadian Investment Regulatory Organization (CIRO) has launched a pilot Hearings Assistance Program (HAP) to support self-represented respondents (SRRs) on procedural aspects of CIRO proceedings. In partnership with the National Self-Represented Litigants Project (NSRLP) the program aims to improve access to justice for self-represented respondents who would overwise be compelled to navigate the process on their own. Respondents in CIRO’s proceedings who represent themselves often struggle to navigate complex legal proceedings and may fear navigating them alone, which can impact their ability to defend themselves adequately. The HAP connects SRRs with volunteer lawyers who will offer procedural legal guidance and support to SRRs. “The Hearings Assistance Program for self-represented respondents is an important development in strengthening the integrity of CIRO’s disciplinary process because it will provide external and independent support to these respondents, helping them navigate the complexities of CIRO’s disciplinary proceedings,” said Tatsiana Okun, Associate General Counsel, CIRO. The NSRLP develops resources, undertakes research and advocates for systemic change in the Canadian justice system to better meet the needs of self-represented litigants participating in a broad range of courts and administrative tribunals across Canada. Through collaboration among self-represented litigants, lawyers, judges, and court staff, the NSRLP strives to create a more responsive and inclusive legal environment. “We are pleased to support self-represented respondents in CIRO’s proceedings, facilitating support for these individuals and ensuring assistance with procedural matters,” said Jennifer Leitch, Director of the NSRLP. “This is a meaningful commitment by CIRO to strengthen procedural fairness and provide individuals with access to justice through independent, external support on a national scale.” The NSRLP will collaborate with CIRO’s Hearings Office on training volunteer lawyers for their work with self-represented respondents engaged in CIRO’s proceedings. They will also connect self-represented respondents with potential volunteer lawyers, administer the program and report on outcomes. CIRO Disciplinary Hearings One of the ways that CIRO upholds its mandate to protect investors and the capital markets is through disciplinary powers to investigate and prosecute wrongdoers and impose sanctions and fines where wrongdoing is found. Allegations are brought forward by CIRO Enforcement before hearing panels comprised of independent Hearing Committees’ members. CIRO’s hearing process is designed to be independent, neutral and impartial. Hearing panels are typically comprised of a three-person panel of external experts, usually including a retired judge or senior member of the legal profession and two senior industry professionals. The neutrality of the whole process is maintained by the CIRO Hearings Office. Separate from both CIRO Enforcement and the respondents, the Hearings Office administers the hearing functions essential to maintaining the integrity and fairness of CIRO’s disciplinary proceedings. The HAP will ensure the self-represented respondents are further supported through independent legal counsel on procedural matters. Additional objectives of the program include improving fairness and efficiency in disciplinary proceedings, reducing procedural errors and delays, and creating professional development opportunities for volunteer lawyers.

​The European Banking Authority (EBA) today published its final revised Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing, marking another key milestone in its efforts to enhance the efficiency, coherence and effectiveness of EU banking supervision. The revised Guidelines are a core deliverable of the EBA’s efficiency and simplification agenda. They build on the EBA Report on the efficiency of the regulatory and supervisory framework (October 2025) and follow the Report on simplifying the stacking orders of the EU prudential and resolution framework. The revised SREP Guidelines pave the way for a more risk-focused, efficient, proportionate and forward-looking framework for supervisors across the EU. ​​Since their adoption in 2014, the SREP Guidelines have given every EU supervisor a common language for assessing credit institutions, providing the foundation on which the Single Supervisory Mechanism (SSM) was built, ending supervisory disputes in cross-border colleges, and enabling the Banking Union to get off the ground. Nearly a decade of implementation has now confirmed both their value and their need to evolve. ​​The revised SREP Guidelines introduce targeted rationalisation measures, including a 30% reduction in the overall page count, while preserving the core structure and objectives of the SREP. They are aligned with Capital Requirements Regulation and Capital Requirements Directive (CRRIII/CRDVI) and other regulatory developments, and draw on supervisory experience, peer review findings and extensive supervisory exchanges, leading to the following key enhancements: ​Simplified regulatory and supervisory framework: a streamlined, and non-duplicative set of provisions that bring together all SREP-related guidance, including SREP guidelines for ICT risk and third-country branches, complemented by targeted refinements, such as merging liquidity and funding risk assessments, and clearer link to the relevant legal acts facilitating SREP assessments (published separately).​ ​Enhanced and forward-looking risk coverage supporting supervisory modernisation: broader and more forward-looking identification of risks, with increased focus on emerging or materially evolving risk drivers, including ICT, ESG, credit spread risk from non-trading activities (CSRBB). ​ ​More risk-based and proportionate supervision: a strengthened risk-based approach, with supervisory assessments calibrated in scope, depth and intensity to institutions’ risk profiles, and greater use of existing information available to supervisors, enabling altogether a more efficient and tailored use of supervisory resources.  ​Enhanced supervisory effectiveness: introduction of a high-level, flexible escalation framework, a stronger link between supervisory findings and measures, and improved clarity in communicating SREP outcomes. ​Clarified risk taxonomy and interaction between Pillar 1 and Pillar 2: introduction of non-exhaustive sub-categories for credit risk, market risk, operational risk and IRRBB to support more consistent supervisory assessments. The revised Guidelines further clarify the interaction between Pillar 1 and Pillar 2 requirements, including the application of the output floor. ​Integration of ICT/DORA, operational resilience and ESG factors: enhanced treatment of ICT risk through the incorporation of DORA, alongside broader integration of operational resilience concept and environmental, social and governance (ESG) factors within the existing SREP framework. ​Legal basis and background ​Today’s publication marks the third major milestone under the EBA’s communication campaign “Simplifying to strengthen: building a more efficient EU prudential and supervisory framework”. This initiative is part of the EBA’s broader priority to simplify and enhance the efficiency of the regulatory and supervisory framework, in line with the work of its Task Force on Efficiency (TFE) and the EBA’s Report on the efficiency of the regulatory and supervisory framework, published on 1 October 2025. It delivers, in particular, on Recommendation 2.4. ​The revised Guidelines have been developed on the basis of: (i) Article 107(3) of Directive 2013/36/EU (CRD), mandating the EBA to specify common procedures and methodologies for the SREP; (ii) Article 48n(6)(a) of CRD VI, mandating guidelines on the SREP for third-country branches; (iii) Article 104a(7) of CRD VI, mandating guidelines to operationalise the output floor. ​This revision represents the third major update of the SREP framework since 2014. It strengthens the overall coherence of supervisory architecture by consolidating the existing SREP Guidelines (EBA/GL/2022/03) and the standalone Guidelines on ICT risk assessment (EBA/GL/2017/05), while also incorporating new mandates introduced by the Capital Requirements Directive (CRD VI), including the treatment of third-country branches and the operationalisation of the output floor into a single comprehensive framework.  ​The Guidelines are addressed to competent authorities as defined in Article 4(2), points (i) and (viii) of Regulation (EU) No 1093/2010. Competent authorities are required to report whether they comply or intend to comply with the Guidelines within two months of publication of the translations into the official EU languages. ​The Guidelines will apply from 1 January 2027. Competent authorities are nevertheless encouraged to consider the revised guidance ahead of that date and, where possible, to introduce its elements at an earlier stage of their supervisory planning cycles. Upon entry into force, the Guidelines repeal and replace EBA/GL/2022/03 and EBA/GL/2017/05.​  Documents Final Report on revised SREP and supervisory stress testing Guidelines (2.56 MB - PDF) List of legal acts facilitating SREP assessments (280.9 KB - PDF) Related content GuidelinesFinal and awaiting translation into the EU official languages Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing Topic Supervisory Review and Evaluation Process (SREP) and Pillar 2

The European Banking Authority (EBA) today published an updated list of validation rules defined in its reporting frameworks, as part of its regular quarterly review process. The revised package identifies rules that have (i) been deactivated due to inaccuracies or IT-related issues, (ii) been reactivated, or (iii) undergone a change in severity status.  Competent Authorities across the EU are reminded that data submitted in accordance with the ITS and Guidelines should not be formally validated against rules that have been deactivated. In addition, the EBA has released a small validation rules package, which includes:  a micro taxonomy package; and Data Point Model (DPM) validation rules update scripts. These components are required from release 4.0 onwards for each validation rules update exercise and ensure amendments are consistently reflected in both the taxonomy and the DPM.  With the introduction of DPM 2.0 from release 4.0 onwards, validation rules are now embedded directly into both the taxonomy and DPM. This integration enhances consistency in implementation by reporting institutions, improves traceability of changes, and contributes to a more efficient and harmonised supervisory reporting process.  Related content Page Validation rules packages

​The European Banking Authority (EBA) published today a Consultation Paper with a draft methodology for setting fines in its role as supervisor under MiCA. The objective is to ensure that fines imposed on issuers of significant crypto-assets are consistent, proportionate and transparent, and effectively support compliance with the regulatory framework. ​​Under MiCA, where an asset-referenced token (ART), or an e-money token (EMT) issued by an electronic money institution, is classified as significant by the EBA, the EBA is responsible for supervising the issuer.  ​The Consultation sets out the EBA’s proposed approach to calculating fines where an issuer of significant tokens, or a member of its management body, has negligently or intentionally committed an infringement. ​This methodology aims at providing a clear and a consistent approach for enforcement, enhancing transparency and accountability in supervisory decisions and helping stakeholders understand how fines are determined in individual cases.   ​​Consultation process Comments to the consultation paper can be sent by clicking on the “send your comments” button on the EBA's consultation page. The deadline for the submission of comments is 28 September 2026. The EBA will hold a virtual public hearing on 16 of July from 14.30 CEST. The EBA invites interested stakeholders to register using this link by 13 of July, 16.00 (CEST). The dial-in details will be communicated to those who have registered for the meeting. All comments received will be published following the end of the public consultation, unless requested otherwise. Legal basis In accordance with Article 134(1) of MiCA where the EBA in carrying out its supervisory responsibilities of issuers of significant tokens, identifies clear and demonstrable grounds to suspect that an infringement has been, or may be, committed, it may adopt one or more of the supervisory measures listed in Article 130(1) and (2) of MiCA. These measures include the imposition of fines and periodic penalty payments.    Documents Consultation Paper on methodology for setting fines under MiCA (387.75 KB - PDF) Related content Consultation28 SEPTEMBER 2026 Consultation on methodology for setting fines under MiCA Discussion Methodology for setting fines under MiCA Topic Asset-referenced and e-money tokens (MiCA)

The annual AML reporting to FI is updated with new questions. These will replace the current set of questions. The report must be completed by all obliged entities that are subject to the Swedish Money Laundering Act and under FI's supervision. The changes will enter into force on 1 January 2027. The annual AML reporting to FI is being comprehensively updated with new questions on obliged entities' inherent risks and control environments. The questions are in line with the risk indicators developed in collaboration with EBA and Amla as part of the work on the new EU common risk classification methodology. They must be answered by all obliged entities subject to the Money Laundering Act and FI's supervision. The new reporting replaces the existing periodic reporting and enters into force on 1 January 2027. Information to be reported The information to be reported covers obliged entities' inherent risk factors and control environments. The questions are mainly set out in the annexes to the draft technical standards for the risk classification methodology pursuant to Article 12(7) of Regulation (EU) 2024/1620 and Article 40(2) of Directive (EU) 2024/1640, as well as in the Amla template used for data collection in connection with the development of the risk assessment methodology. Note that certain data points may still change and that Amla’s template will not be used for reporting to FI. More detailed information about the new reporting will be provided in the autumn. Reporting period The reporting period remains unchanged, from 1 January to 31 March. The new reporting enters into force on 1 January 2027, and the data will relate to the balance sheet date of 31 December 2026. Reporting in Fidac As in previous years, all obliged entities must report via FI's reporting portal, Fidac. For entities that qualify for Amla's direct supervision, reporting will be carried out in accordance with EBA's taxonomy. FI will contact these entities separately. Technical standard under Article 40(2) of Directive (EU) 2024/1640 AMLA information on data collection exercise

The Commodity Futures Trading Commission and the Securities and Exchange Commission today issued a joint request for public comment on potential approaches to further harmonize regulatory frameworks applicable to portfolio margining across securities, security-based swaps, futures, swaps, and related positions. The request for comment is intended to assist the agencies in evaluating whether greater coordination or alignment in portfolio margining requirements may improve risk management efficiency, reduce unnecessary market fragmentation, and enhance customer protections consistent with the agencies’ respective statutory authorities and responsibilities. “Fostering enhanced cooperation between the CFTC and SEC with respect to portfolio margining promises to unleash untapped capital while ensuring a more robust risk management framework and market protections,” said CFTC Chairman Michael S. Selig. “I look forward to reviewing and implementing stakeholder feedback as we build the new frontier of finance.” “By further harmonizing our frameworks, we can ensure that jurisdictional overlap does not stifle innovation and efficiency,” said SEC Chairman Paul S. Atkins. “Cross-margining offers a clear opportunity to unlock liquidity that remains frozen in separate accounts, and we encourage market participants to provide feedback on ideas that will help improve coordination between both agencies.” The joint request for comment seeks input on a range of issues, including: Existing portfolio margining models and practices Customer protection considerations Cross-margining and cross-product offsets Capital, segregation, and collateral treatment Risk management and margin methodologies Clearing agency and derivatives clearing organization considerations Operational and technical implementation issues Potential impacts on market liquidity and competition The CFTC and SEC encourage the public to provide input on these topics, as identified in the agencies’ request for comment. The public comment period will remain open for 60 days following publication of the request for comment in the Federal Register. RELATED LINKS Joint Request for Comment on Further Implementation of Portfolio Margining and Cross-Margining of Securities and Derivatives

During a special Ring the Bell ceremony held in Luxembourg, the People’s Republic of China and the Luxembourg Stock Exchange celebrated a new sovereign bond issuance. Earlier today at the Luxembourg Stock Exchange (LuxSE), the Ministry of Finance of the People’s Republic of China announced the issuance of a new EUR 5 billion sovereign bond, to be listed on LuxSE’s Euro MTF. The issuance was celebrated during a special Ring the Bell ceremony at LuxSE this morning, in the presence of the Vice Minister of Finance of the People’s Republic of China, Song Qichao, Luxembourg’s Minister of Finance, Gilles Roth, the Director for the Development of the Financial Centre at Luxembourg’s Ministry of Finance, Jennifer de Nijs, Hua Ning, Ambassador of China to Luxembourg, as well as representatives of Bank of China, Bank of Communications, Crédit Agricole CIB and Luxembourg for Finance (LFF). The issuance comes seven months after the People’s Republic of China successfully listed a EUR 4 billion bond on LuxSE’s Euro MTF. The new issuance marks the latest chapter in the long-standing relationship between the People’s Republic of China and LuxSE, which began in 1994 when China’s first international sovereign bond was listed on the Exchange. Long-standing relations This issuance reflects the People’s Republic of China's continued commitment to international capital markets and supports greater connectivity between European and Asian financial centres. It also builds on the strong partnership that has developed between China and Luxembourg over the past three decades. “China's Ministry of Finance's decision to issue euro-denominated sovereign bonds in Luxembourg for two consecutive years stands as a compelling testament to the further deepening of financial cooperation between China and Luxembourg. Looking ahead, there is immense potential for collaborations between the two countries in the bond market. I am confident that China and Luxembourg will continue to move forward hand in hand, build bridges for dialogues between China and Europe, and jointly write a new chapter in China-Europe financial cooperation,” said Mr Song Qichao, Vice Minister of Finance of the People's Republic of China. “We are honoured to welcome the People's Republic of China back to LuxSE with this new sovereign issuance. Today's ceremony, held in the presence of Vice Minister of Finance Mr Song Qichao, marks another milestone in the long-standing relationship between China and Luxembourg. This issuance highlights China's continued engagement with international capital markets and reinforces LuxSE's position as the leading venue for sovereign issuers seeking access to global investors,” said Pierre Schoonbroodt, Deputy CEO and CFO at LuxSE. Strengthening international collaboration The new EUR 5 billion sovereign bond issuance was jointly arranged by Bank of China, Bank of Communications and Crédit Agricole CIB. The upcoming listing will further reinforce LuxSE’s position as the venue of choice for sovereign issuers when tapping international bond markets and highlights Luxembourg’s role as a gateway between China and the European capital markets. “Bank of China is honoured to have participated in this landmark transaction. As the most internationalised Chinese bank and the first major international banking group to establish its European headquarters in Luxembourg, Bank of China remains firmly committed to advancing financial cooperation between China, Luxembourg and Europe. This successful issuance further highlights Luxembourg's important role as a leading international financial centre and a key gateway for global capital. Bank of China will continue to leverage its global network and extensive European franchise to deepen connectivity between Chinese and international capital markets, broaden access to global investors, and contribute to the continued development of Luxembourg as a premier international capital markets hub,” said Liu Jiandong, Chairman, Bank of China (Europe) S.A. “In 2015, Bank of Communications set up a subsidiary in Luxembourg and has since served the European market for over a decade. As a global systemically important bank and an official listing agent at the Luxembourg Stock Exchange, BOCOM has provided quality financial services to Chinese and European firms while promoting the listing of Chinese bonds in Luxembourg. Following last November's issuance, the Ministry of Finance has again chosen Luxembourg for this euro sovereign bond offering – a decision that deepens bilateral ties, advances Belt and Road cooperation, and gives new impetus to the China-Luxembourg partnership,” said Yin Jiuyong, Executive Vice President, Bank of Communications Co., Ltd. “From an international market perspective, this issuance is viewed as a strategic development in China-Europe financial connectivity. By choosing Luxembourg – Europe’s premier listing venue for international bonds – and maintaining Hong Kong as the clearing centre, China is reinforcing its commitment to both European and Asian financial markets. This dual-listing approach is seen as a sophisticated strategy to deepen cross-continental capital markets integration and signals China's long-term commitment to European capital markets,” said Olivier Bélorgey, Deputy Chief Executive Officer and Finance Director, Crédit Agricole CIB. Deep-rooted cooperation China’s partnership with Luxembourg has expanded significantly in recent years. Today, LuxSE lists a broad range of bonds from Chinese issuers, reflecting the depth of the relationship between China’s capital markets and Luxembourg’s international financial centre. Beyond debt capital markets, LuxSE continues to serve as a bridge for sustainable and green finance between Europe and China, supporting enhanced international cooperation in sustainable investment. Today’s issuance further deepens the financial ties between China and Luxembourg and underscores the long-term collaboration between the two markets. It also reaffirms Luxembourg’s role as a preferred European hub for Chinese issuers seeking access to international investors. For more information, please visit the issuer card: https://www.luxse.com/issuer/China/33102