Europe & the U.K.
FCA consultation on handbook application for regulated cryptoasset activities
17 Sep 2025: The Financial Conduct Authority (FCA) is consulting on how existing handbook rules will apply to firms conducting regulated cryptoasset activities. The proposal covers governance, ESG, consumer protection, and operational resilience. It forms part of the FCA’s broader crypto roadmap and anticipates future legislation from HM Treasury. The consultation seeks input from firms, industry groups, and consumer advocates to ensure a balanced and effective regulatory framework.
EBA revises ITS validation rules
15 Sep 2025: The European Banking Authority (EBA) has published a revised list of validation rules under its implementing technical standards (ITS) for supervisory reporting. Several rules have been deactivated due to inaccuracies or IT-related issues. Competent authorities are advised not to validate submissions against these deactivated rules. This update reflects EBA’s ongoing commitment to improving data quality and reducing reporting burdens caused by technical inconsistencies.
EBA publishes draft amendments to MREL reporting framework
12 Sep 2025: The EBA has released final draft amendments to the ITS framework governing the reporting of minimum requirements for own funds and eligible liabilities (MREL) decisions by resolution authorities. These changes aim to streamline data collection and improve transparency in resolution planning. Stakeholders are encouraged to review the amendments and assess their impact on reporting processes.
ECB expands FINREP scope to less significant institutions
12 Sep 2025: The European Central Bank (ECB) has amended Regulation (EU) 2015/534 to extend FINREP reporting obligations to less significant institutions (LSIs). Nine new templates focused on credit risk will be introduced, with implementation scheduled for December 2025. This expansion reflects a broader push for transparency and proportionality in supervisory reporting, even for institutions outside the EBA’s standard FINREP scope.
ESAs report improved PAI disclosures under SFDR
9 Sep 2025: The joint committee of the ESAs (EBA, EIOPA, ESMA) has published its fourth annual report on voluntary principal adverse impact (PAI) disclosures under the sustainable finance disclosure regulation (SFDR). The report notes a steady improvement in disclosure quality at both entity and product levels. However, gaps remain in consistency and comparability, underscoring the need for continued regulatory guidance and industry engagement.
FCA publishes feedback on AI live testing pilot
9 Sep 2025: The FCA has released a feedback statement summarizing responses to its AI live testing pilot. The initiative allows firms to collaborate with FCA teams to test AI systems in live market environments. Feedback highlighted the importance of output-driven validation and risk mitigation strategies. The first cohort begins in October, with a second cohort planned before year-end. Insights will inform future regulatory approaches to AI in financial services.
EBA seeks feedback on DPM 2.0 and enhanced technical package
5 Sep 2025: EBA has published a draft technical package for version 4.2 of its reporting framework, advancing the transition to the DPM 2.0 standard. The package includes a fully enhanced semantic glossary designed to improve data consistency and usability. Stakeholders are invited to provide feedback to help shape the future of regulatory reporting in the EU.
Asia-Pacific
Bank of Thailand expands RDT scope to specialized financial institutions
Sep 2025: The Bank of Thailand has revised its regulatory data template (RDT) framework to include specialized financial institutions (SFIs), extending reporting obligations to government-owned banks. Effective September, changes to the counterparty framework will alter validation logic. The update also introduces two new data entities and a series of validation and classification codes, though these will not come into effect until 2026. Institutions should begin assessing system readiness and data architecture to accommodate these future requirements.
HKMA defers implementation of revised MA(BS)23 return
9 Sep 2025: The Hong Kong Monetary Authority (HKMA) has extended the implementation timeline for the revised MA(BS)23 return, with the first reporting date now set for 30 June 2026. This delay provides additional time for authorized institutions (AIs) to upgrade systems and prepare for enhanced liquidity monitoring. In the interim, HKMA will conduct targeted data collection with selected institutions to gather liquidity insights aligned with the revised framework.
HKMA consultation on crypto-asset classification and SPM updates
8 Sep 2025: HKMA is consulting on a new supervisory policy manual (SPM) module CRP-1, focused on the classification of crypto-assets. The proposal also includes revisions to nine existing SPM modules and the banking exposure limits code. These updates aim to enhance supervisory clarity and consistency in the treatment of crypto-asset exposures. The consultation period runs until 10 October 2025, and stakeholders are encouraged to provide feedback on the proposed changes.
HKMA consultation on revised crypto-asset reporting templates
4 Sep 2025: HKMA has launched a consultation on revised completion instructions for several prudential returns, including liquidity, capital adequacy, market risk, and large exposures. These revisions align with the Basel Committee’s standards on crypto-asset exposures. A transitional arrangement allows institutions without crypto-asset exposure as of 1 January 2026 to continue using existing templates until 30 June 2026. Institutions with exposure must adopt the new templates immediately, with full implementation required by 1 July 2026.
US & Canada
United States
Agencies invite the public to discuss EGRPRA topics
9 Sep 2025: The Agencies (FDIC, FRB, and OCC) announced that on October 30th, they would hold a joint session to allow stakeholders to present their views on Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). Categories addressed are:
- Application and reporting powers and activities; international operations (issued May 2024)
- Consumer Protection, money laundering, directors and officers (issued October 2024)
- Safety and Soundness, securities, and rules of procedure (issued March 2025)
- Community Reinvestment Act, bank operations, capital (issued July 2025)
Canada
OSFI reinforces commitment to risk-responsive regulation
11 Sep 2025: The OSFI announced several updates to guidelines aimed at focusing OSFI’s response to risks, clarifying regulatory expectations, and improving the overall efficiency of its oversight. OSFI has also published a report on the Standardized Climate Scenario Exercise (SCSE) that will enhance the financial sector's understanding of climate-related financial risks. Finally, OSFI has outlined a revised approach to Administrative Monetary Penalties (AMPs) that aligns better with OSFI’s risk appetite and the current risk environment. OSFI published the following elements as part of its regular Quarterly Release: Updated guidelines:
- Capital Adequacy Requirements (CAR) Guideline
- Guideline E-23: Model Risk Management
- Guideline E-15: Appointed Actuary
OSFI New Intraday Liquidity Regulatory Returns with instructions
4 Sep 2025: The Office of the Superintendent of Financial Institutions introduced the new Intraday Liquidity Regulatory Returns with instructions for institutions that are direct clearers of Canada's Large Value Payment System (Lynx). Institutions should begin reporting as of the beginning of November 2025.
