Regulus — The global regulatory broadcast network

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United Kingdom HM Revenue & Customs Governance & Accountability ✓ 19 claims 02 Nov 2026

HMRC sets out VAT margin scheme rules for car dealers' warranties and insurance add-ons

HMRC has published guidance for dealers, chiefly in used vehicles, who sell linked insurance products such as mechanical breakdown cover and guaranteed asset protection alongside warranties. The note sets out when these charges are exempt, standard-rated, or must be excluded from margin scheme calculations, with worked examples showing how disclosure of premiums changes the VAT and Insurance Premium Tax outcome.

The guidance was published by HMRC on 2 November 2026 covering linked insurance products and warranties sold alongside margin scheme goods.
A linked insurance charge is exempt from VAT only if it is under a contract between the insurer and the customer, covers the customer's risk, is optional, and the premium is disclosed to the customer.
If the insurance contract is between the dealer and the insurer and only the dealer's risk of repairing defective items is covered, the charge is standard-rated outside the margin scheme.
A separately charged warranty is always standard-rated and must be excluded from the margin calculation on the underlying goods.
Dealers who do not disclose a gross premium or commission to the insurance provider may need to register and account for the higher rate of Insurance Premium Tax on undisclosed amounts.

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FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 12 claims 02 Nov 2026

FCA sets terms of reference for internal review over Andriesz whistleblower case

The FCA has published terms of reference for an internal review into how it handled whistleblowing disclosures from Mr Simon Andriesz, who has since died. The review's scope has widened and its timeline has slipped, with a progress update due January 2027 and a final report in spring 2027.

The review is led by Lea Paterson CBE, an independent non-executive director of the FCA, and was commissioned by the FCA's non-executive directors.
Scope now includes whether the FCA met its responsibilities under whistleblowing law and followed its own policies and procedures, including handling of Mr Andriesz's detriment concerns.
The review covers the period from at least 2017 to 2026.
A progress update will be published in January 2027, with the final report expected in spring 2027, later than the previously stated early 2027 target.
The review will identify lessons learned and make recommendations for future engagement with external whistleblowers and vulnerable individuals.

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Governance & Accountability ✓ 10 claims 02 Nov 2026

HMRC clarifies VAT margin scheme rules for repossessed and insurance-claim goods

HMRC has published guidance explaining how the VAT margin scheme applies to repossessed goods and goods obtained through insurance claims. The guidance matters for banks, finance companies and other lenders that regularly acquire and resell such goods, setting out when VAT can be avoided on disposal and when margin scheme treatment survives refurbishment.

Repossessed goods covered include those voluntarily returned under hire-purchase agreements, repossessed under finance agreement terms, or returned under the Consumer Credit Act after 50% of payments made.
Banks and financial institutions need not account for VAT on disposal if goods are sold in exactly the same state acquired and were obtained from a person who would not have charged VAT.
Finance companies selling refurbished or reconditioned repossessed goods may still use a margin scheme if the goods were originally sold under one, even after improvements, repairs or replacement parts.
For refurbished goods resold under the margin scheme, the purchase price for margin calculation is the original price the finance company paid.
Firms must follow the normal margin scheme calculation, keep normal VAT margin scheme records, and show margin scheme transactions on their VAT return.

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Governance & Accountability ✓ 15 claims 02 Nov 2026

HMRC updates guidance on lump sum death benefit tax reporting duties

HMRC has revised its guidance for pension scheme administrators on taxing lump sum death benefit payments. The update adds new disclosure requirements tied to the death benefit allowance that apply to payments made on or after 6 April 2024, alongside existing rules on tax treatment and deadlines for reporting to personal representatives.

For payments on or after 6 April 2024, administrators must report the amount of the lump sum and death benefit allowance used up by the payment, replacing the prior lifetime allowance percentage disclosure.
Administrators must provide this information, along with the lump sum amount and payment date, to the deceased member's personal representative within 3 months of the final payment.
Lump sum death benefit payments are taxable where the member or beneficiary was 75 or over when they died, covering defined benefits, uncrystallised funds, drawdown pension fund, flexi-access drawdown fund, pension protection and annuity protection.
Trivial commutation lump sum death benefit payments must always have tax deducted through PAYE.
For payments other than trivial commutation lump sums, administrators deduct Income Tax using the emergency tax code if paid directly to an individual, or the special lump sum death benefits charge if paid to someone other than an individual, or to an individual acting as trustee, personal representative, director or partner.

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Governance & Accountability ✓ 14 claims 02 Nov 2026

HMRC sets out VAT margin scheme rules for hire-purchase and part-exchange sales

HMRC has published guidance explaining how dealers who arrange hire-purchase agreements or accept part-exchange goods must calculate VAT under the margin scheme. It covers record-keeping obligations, invoice requirements and two worked examples showing how to treat part-exchange values in the stock book.

When a dealer arranges hire-purchase terms on a customer's behalf, the sale is deemed to be made to the finance company and no VAT is due on finance charges if itemised separately.
Dealers without a copy of the hire-purchase agreement must retain the agreed quotation, proposal documents, the finance company's name, the date and the reference number.
The gross price for margin scheme purposes equals the amount borrowed plus any cash deposit plus any amount allowed for a part-exchange item.
In Example 1, a boat sold for £2,500 after being bought for £1,500, with a £500 part-exchange boat accepted, requires VAT to be accounted for on the full margin of £1,000.
In Example 2, a car allowed £800 in part-exchange must be recorded at £800 as the purchase price even though its book value was only £600.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 17 claims 30 Oct 2026

DOJ closes Vistra-Cogentrix probe after second New England plant sale

DOJ's Antitrust Division issued a statement closing its investigation into Vistra's acquisition of Cogentrix Energy after the parties agreed to divest a second New England power plant. The case illustrates how DOJ can keep investigating a merger even after FERC approves it without conditions, applying a methodology drawn from a 2025 electricity-sector settlement.

Vistra announced its agreement to acquire Cogentrix from Quantum Capital Group on Jan. 5.
The acquisition combines overlapping generation portfolios in PJM Interconnection, ISO New England and the Electric Reliability Council of Texas.
FERC approved the transaction without conditions after Vistra unilaterally sold its Casco Bay Energy facility in ISO-NE.
Vistra and Cogentrix then unilaterally agreed to sell Cogentrix's Rumford, Maine gas-fired combined-cycle power plant to resolve DOJ's remaining concerns.
DOJ says its legal and economic analysis followed the framework from its 2025 settlement over Constellation Energy's acquisition of Calpine Corp.

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SEC Speeches and Statements Source document ↗

United States SEC Speeches and Statements Governance & Accountability ✓ 19 claims 30 Oct 2026

Atkins touts SEC plan to rescind Rule 14a-8, climate rule in Dallas speech

Chairman Paul Atkins used an address to the Economic Club of Dallas to frame the SEC's current rulemaking agenda as a 'return to First Principles,' tying together IPO reform, digital asset proposals and a plan to rescind the shareholder-proposal rule. Compliance and governance teams should note which specific proposals he cited and their current status.

Atkins said the SEC proposed earlier this year to let public companies choose semi-annual reporting instead of quarterly reports.
From the start of 2025 through the first half of 2026, more than 580 companies went public, raising $208 billion, with 47 IPOs in Texas alone.
The Commission has proposed rescinding Rule 14a-8, a shareholder-proposal rule in place since 1942, to return governance authority to individual states.
The SEC's proposed Regulation Crypto Assets, unveiled in August, and its Innovation Exemption aim to create capital-raising pathways for crypto issuers and permit certain onchain trading of tokenized securities.
Atkins confirmed the Commission has proposed rescinding the prior administration's climate disclosure rule.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 19 claims 30 Oct 2026

DOJ final rule lets firearms dealers use NICS to vet employees

The Justice Department has finalised a rule letting Federal Firearms Licensees run voluntary FBI background checks on certain employees through NICS, the system previously reserved for firearm transfers. It implements a Bipartisan Safer Communities Act mandate, takes effect 30 days after Federal Register publication, and sets out who is eligible, what responses dealers receive, and how subjects can appeal.

The final rule lets FFLs voluntarily submit Firearm Handler Background Checks through NICS, which DOJ regulations previously barred for any purpose other than a proposed firearm transfer.
Participation is optional and requires the written consent of the employee; the FBI will not charge a fee for these checks.
FFLs receive only a Pass, Pending or Did Not Pass response plus a NICS Transaction Number, not the subject's underlying record information.
A Did Not Pass does not bar employment in roles without access to firearms or ammunition, and subjects may request the reason and appeal as a denied transferee would.
The rule takes effect 30 days after Federal Register publication, and ATF will issue separate guidance on documenting FHCs.

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Hong Kong Exchanges and Clearing Limited Source document ↗

Hong Kong Exchanges and Clearing Limited Governance & Accountability ✓ 21 claims 30 Oct 2026

HKEX sets 21 November data centre failover rehearsal for CCASS, FINI, RAP

HKEX has scheduled its regular data centre failover rehearsal covering CCASS, VaR Platform, Synapse, FINI and RAP, requiring CCASS Participants and Designated Banks to prepare workstations, coordinate IT support and follow a detailed two-session timetable. This briefing covers registration deadlines, suspension windows and the technical configuration changes firms must make before 21 November 2026.

Registration for the rehearsal closes on 13 November 2026 via HKEX's online survey.
CCASS services will be suspended on 21 November 2026, with production reports delayed to Monday 23 November 2026.
RAP services will be suspended on 7 to 8 November 2026 and again on 21 to 22 November 2026 for system testing.
Participants must complete and return the Data Centre Failover Rehearsal Confirmation Form to HKEX by 18:00 on 21 November 2026.
CPs and DBs must reconfigure DNS settings, including preferred DNS 10.243.1.1 and alternate DNS 10.243.65.1, before the rehearsal.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 14 claims 30 Oct 2026

DEA issues first federal registrations to over 900 medical marijuana dispensaries

DOJ and DEA announced the first phase of federal registrations for state-licensed medical marijuana dispensaries, a mechanism created by the Attorney General's April 23 order. This affects compliance teams at dispensaries, manufacturers and distributors navigating the gap between state licensure and federal controlled-substance obligations.

DEA has issued federal registrations to more than 900 dispensaries across Alabama, Florida, Mississippi, South Dakota, Texas, Virginia and West Virginia.
Registration requires applicants to have applied within the order's initial 60-day period and to pass DEA's pre-registration investigation.
State medical marijuana licensure alone does not automatically grant federal registration.
Registered dispensaries must comply with federal security, recordkeeping, inventory control and other controlled-substance safeguards.
DEA is separately reviewing applications from manufacturers and distributors, which require facility inspections, production controls and quota determinations.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 14 claims 30 Oct 2026

Former West Virginia jail officer sentenced to 24 months for inmate abuse conspiracy

A federal civil rights sentencing out of the Southern District of West Virginia closes one strand of a multi-officer conspiracy at Southern Regional Jail. The case documents coordinated use of unjustified force against pretrial detainees and systematic falsification of incident reports, material relevant to institutions overseeing custodial facilities, use-of-force policy and whistleblower reporting controls.

Michael Pack, 40, was sentenced to 24 months in prison on federal civil rights charges tied to a conspiracy at Southern Regional Jail in Beaver, West Virginia.
Pack pleaded guilty on March 30 before U.S. Magistrate Judge Omar J. Aboulhosn to one count of violating 18 U.S.C. § 371.
Pack admitted he and co-conspirators brought inmates to camera blind spots to use unreasonable force without being recorded.
Pack admitted writing a false report omitting the blind spot incident and falsely stating a detainee sustained no injuries despite being seen bleeding from the head.
The case was investigated by the FBI's Pittsburgh Field Office, Charleston Resident Agency, and prosecuted by the Civil Rights Division with the U.S. Attorney's Office for the Southern District of West Virginia.

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Press Releases | FDIC.gov Source document ↗

United States Press Releases | FDIC.gov Governance & Accountability ✓ 16 claims 30 Oct 2026

FDIC publishes September enforcement actions, no November hearings scheduled

The FDIC's monthly disclosure of administrative enforcement actions covers orders taken against banks and individuals in September 2026, plus an order amending an earlier September order. The breakdown spans prohibitions, insurance terminations, a written agreement and the termination of 75 waiver orders. No administrative hearings are scheduled for November 2026.

The FDIC issued 17 orders, one Notice of Charges and one adjudicated Decision in September 2026, published on October 30, 2026.
Actions included three orders of prohibition, four orders of termination of insurance and one written agreement.
Five orders terminated a total of 75 waiver orders, and one amended supervisory prompt corrective action directive was issued.
The FDIC is also publishing an order amending an order that was issued in September 2026.
No administrative hearings are scheduled for November 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Governance & Accountability ✓ 13 claims 30 Oct 2026

SEC readies exemptive order for Carlyle employee co-investment vehicle

The SEC has published notice of an application by The Carlyle Group and a co-investment partnership for an order exempting employee investment vehicles from most of the Investment Company Act of 1940. The relief will be granted unless someone requests a hearing by November 17. This is the procedural step that precedes a final order, and it sets out exactly which provisions Carlyle wants switched off and which stay in force.

The relief is sought under sections 6(b) and 6(e) of the Investment Company Act of 1940 and would exempt employee partnerships from most of the Act.
Sections 9, 17, 30 and 36 through 53 remain in force, with only limited exemptions requested under parts of sections 17 and 30 and rule 38a-1.
Each partnership qualifies as an 'employees' securities company' within the meaning of section 2(a)(13) of the Act.
Hearing requests must reach the Commission by 5:30 p.m. Eastern on November 17, 2026, or the order will be granted.
The application was filed on December 28, 2021, and amended on May 20, 2022, December 1, 2022, July 29, 2025, and October 22, 2026.

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European Central Bank Source document ↗

European Union European Central Bank Governance & Accountability ✓ 14 claims 30 Oct 2026

ECB's Lagarde to step down on 7 February 2027

The ECB's October 2026 Governing Council round records that President Christine Lagarde will leave office on 7 February 2027, set down amid a batch of market infrastructure, legislative and governance decisions. For general counsel and government affairs teams, the succession question now opens, and several of the other items touch payments access, market abuse powers and Eurosystem reporting.

Christine Lagarde informed the Governing Council and European Council President Antonio Costa on 29 October 2026 that she would step down on 7 February 2027.
The Governing Council approved a T2 Currency Participation Agreement for Sveriges Riksbank and an updated CPA for Danmarks Nationalbank, both subsequently signed.
Three legislative opinions were adopted: CON/2026/30 on market abuse management bans in Belgium, CON/2026/31 on Central Bank of Cyprus governance, and CON/2026/32 on cash and payments in Slovenia.
Petra Senkovic was appointed Chair of the Legal Committee from 1 November 2026, succeeding Chiara Zilioli, with the term running until 31 December 2028.
Guideline ECB/2026/28 amends the Eurosystem accounting and financial reporting framework, introducing a new reporting format for the consolidated annual balance sheet.

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SFC Hong Kong Source document ↗

SFC Hong Kong Governance & Accountability ✓ 12 claims 30 Oct 2026

SFC confirms new two-year Process Review Panel term from November 2026

The SFC has confirmed the membership of its Process Review Panel for a fresh two-year term beginning in late 2026. The panel is the independent body that scrutinises how the regulator handles individual cases and whether its internal procedures hold up. This item covers who sits on it, for how long, and why the appointment matters to anyone whose dealings with the SFC can be reviewed.

The reconstituted PRP serves a two-year term commencing on 1 November 2026.
The Financial Secretary reappointed the Chairman and 10 incumbent members and appointed two new members, Mr Simon Fok Chung-yin and Ms Angie Li Yick-yee.
Established in November 2000, the PRP independently reviews the SFC's case handling and advises on the adequacy of its internal procedures and operational guidelines.

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SFC Hong Kong Source document ↗

SFC Hong Kong Governance & Accountability ✓ 10 claims 30 Oct 2026

SFC flags HKEX's 2026 trading system recovery rehearsal for 21 November

A short circular notifying licensed intermediaries of HKEX's scheduled rehearsal for emergency trading system recovery, with specific obligations for Exchange Participants under the Investor Identification Regime. Relevant for compliance and operations teams at SFC-licensed firms that need to plan enrolment and participation.

HKEX's annual emergency trading system recovery rehearsal runs from 11:00am to 3:10pm on 21 November 2026 (Saturday).
All Relevant Regulated Intermediaries are covered by the BCAN-CID Mapping File and Reporting Forms submission process tested in the rehearsal.
BCAN tagging for order submission to SEHK's trading system applies exclusively to RRIs that are Exchange Participants.
Only EP RRIs must submit the Notification Form for Participation before the rehearsal and the Rehearsal Evaluation Reply Form after completion.
Non-EP RRIs require no enrolment, and further details are set out in SEHK's circular dated 30 October 2026.

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Governance & Accountability ✓ 11 claims 30 Oct 2026

HMRC says new customer relationship IT programme offers value for money

HMRC has published the summary of its Accounting Officer's assessment of the Enterprise Customer Relationship Management (ECRM) Programme, a major internal technology initiative meant to replace fragmented legacy systems. The assessment, concluded in October 2026, gives a brief verdict on the programme's viability. This is a short corporate disclosure rather than a detailed technical or financial report.

HMRC's Accounting Officer carried out the assessment of the ECRM Programme in October 2026.
The summary was published on 30 October 2026.
The programme will replace fragmented legacy systems with a unified, enterprise-wide customer relationship management platform.
The Accounting Officer concluded the programme is value for money and deliverable.
The stated aim is more personalised, efficient and data-driven services for individuals and businesses.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Governance & Accountability ✓ 14 claims 29 Oct 2026

ABA seeks 30-day extension to comment on bank third-party risk guidance

US banking agencies have two third-party risk management proposals open for comment, with a Nov. 16 deadline. The American Bankers Association and three other groups want 30 more days, arguing early member feedback on due diligence and contracting needs fuller analysis. This covers what is on the table and why the industry wants more room before responding.

The ABA and three associations requested a 30-day extension to the Nov. 16 comment deadline on two third-party risk management proposals.
In September the FDIC, Federal Reserve, OCC and NCUA sought comment on revisions to the interagency third-party risk management guidance.
The Federal Reserve separately requested input on proposed third-party risk management guidance for community banks.
The joint letter flagged member concerns about effects on due diligence and contracting as warranting further analysis.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 15 claims 29 Oct 2026

DOJ Antitrust Division sets out division of labour with state AGs on local mergers

The Justice Department has published an update on how its Antitrust Division is dividing merger review with state Attorneys General, naming completed consent decrees and referrals in cement and asphalt matters since January 2026. For GCs and antitrust counsel, it signals which authority is likely to take the lead on a given deal and when a federal filing may be deferred to a state enforcer.

The Division partnered with the Attorneys General of California and Tennessee on consent decrees resolving competition concerns in cement and asphalt regions within those states.
It referred asphalt market investigations in New York, Pennsylvania and New Jersey to those states' Attorneys General, who reached settlements with the parties.
Beller said the Division welcomes state leadership where the state is a purchaser facing direct injury or where competitive effects are confined to a single state.
Woodward said the Department will generally form its own views on resolving investigations into mergers of national importance, while partnering with states that contribute distinctively.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Governance & Accountability ✓ 16 claims 29 Oct 2026

DOJ charges 18 more noncitizens in North Carolina over 2024 election voting

The Justice Department has indicted 18 more noncitizens in North Carolina for voting in the 2024 general election, spread across the Eastern, Middle and Western Districts. Added to 12 defendants charged earlier this year, the new cases take the statewide total to 30. Prosecutors frame the push as a deterrent message before the 2026 election. This item sets out who is charged, with what, and the penalties involved.

Eighteen aliens, including one illegal alien, were indicted for voting in the 2024 general election, across North Carolina's Eastern, Middle and Western Districts.
The new charges are additional to 12 defendants previously indicted in the Eastern District, taking the statewide total charged this year to 30.
All nine Eastern District defendants are alleged to have falsely claimed U.S. citizenship to register and vote in 2024.
In the Western District, three defendants are charged with both voting by an alien and making a false claim to citizenship, while Edread Ray Stanley is charged only with voting by an alien.
Falsely claiming citizenship to vote carries a maximum of five years in prison and a $250,000 fine; voting by an alien carries up to one year and a $100,000 fine.

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ESMA Source document ↗

European Union ESMA Governance & Accountability ✓ 17 claims 29 Oct 2026

ESMA newsletter confirms Comporti as next chair, sets 2027 priorities

ESMA's bimonthly Spotlight on Markets newsletter rounds up September and October activity, led by confirmation of its incoming Chair and a preview of 2027 supervisory priorities. Compliance teams tracking T+1 settlement, MiCA amendments and cross-border supervisory cooperation will find pointers to the underlying publications here.

Carlo Comporti's appointment as ESMA's next Chair was confirmed by the Council of the European Union, effective 1 November 2026.
The newsletter flags ESMA's 2027 Annual Work Programme and a new Union Strategic Supervisory Priority on digital innovation.
The European Supervisory Authorities issued a joint call for vigilance over external dependencies, cyber threats and private markets.
ESMA set out proposals aimed at making MiCA clearer, safer and ready for emerging services.
ESMA signed a Memorandum of Understanding with the Securities and Exchange Board of India.

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Bank of England Source document ↗

United Kingdom Bank of England Governance & Accountability ✓ 20 claims 29 Oct 2026

Bank of England Court sets 50% office attendance rule from 1 October

Routine but revealing governance minutes from the Bank of England's Court of Directors cover a new office attendance mandate, progress on the Leeds relocation programme, committee appointments and succession planning for the Deputy Governor for Markets and Banking. Compliance and HR teams tracking the Bank's internal operating model will find the attendance and location details most material.

Staff will be required to be in the office 50% of the time from 1 October 2026, following the Flexibility Review.
Court noted progress toward a target of 500 staff based in Leeds by the end of 2027 under the Location Strategy Programme.
Court approved a new model for independently led reviews, to avoid overlap with the upcoming NAO review and the IMF's Financial Sector Assessment Program.
David Craig and Hanneke Smits were appointed to the Audit and Risk Committee, the latter effective 1 January 2027, and Paul Nowak to the Remuneration Committee.
The Chair confirmed preparation is underway for recruiting a new Deputy Governor for Markets and Banking as Dave Ramsden's term ends next year.

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Osaka Exchange Source document ↗

Japan Osaka Exchange Governance & Accountability ✓ 11 claims 29 Oct 2026

TSE flags Broadmedia stock for likely delisting after takeover bid approval

Tokyo Stock Exchange has placed Broadmedia Corporation shares under a supervisory designation ahead of a possible delisting, triggered by the company's approval of a takeover bid. This briefing covers the mechanics of that designation, the two delisting pathways now in play, and the timeline TSE has set for resolving the matter.

TSE designated Broadmedia Corporation stock (Code: 4347, Standard Market) as a Security Under Supervision (Confirmation) effective Oct. 29, 2026.
The designation lasts until TSE determines whether the company falls under the delisting criteria.
Broadmedia has approved a takeover bid from NSSK-EPSILON1 Co., Ltd. that may result in delisting.
Delisting would occur if the bidder demands a cash-out approved by the company, or if a share consolidation proposal reducing minority holdings to fractional shares is approved by shareholders.
The designation is made under Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Items (23) and (24).

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Governance & Accountability ✓ 16 claims 29 Oct 2026

HMRC pension newsletter flags DigiRAS delay to 2027 alongside IHT changes

HMRC's October 2026 pension schemes newsletter sets out a wide slate of tax and administrative changes affecting schemes, including inheritance tax amendments tied to an April 2027 deadline and a delay to a separate digitalisation project into the same year. Scheme administrators and trustees should treat this as a checklist of items to review rather than a single headline change.

HMRC published Pension Schemes Newsletter 186 on 29 October 2026 via its Pension Schemes Services team.
The newsletter covers minor technical amendments to the extension of inheritance tax to pensions, which takes effect from April 2027.
The digitalisation of the relief at source (DigiRAS) Strategic Payments Service has been delayed until 2027.
The newsletter also addresses tax on excess pension lump sum death benefits following lifetime allowance abolition and the two-year rule for death benefit tax treatment.
HMRC has launched a new online tool to help customers claim pension tax refunds, alongside published pension flexibility and registration statistics.

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Department for Business and Trade — export control Source document ↗

United Kingdom Department for Business and Trade — export control Governance & Accountability ✓ 13 claims 29 Oct 2026

UK guidance on employment agency rules updated to name Fair Work Agency

This is a housekeeping update to long-standing guidance on the Conduct of Employment Agencies and Employment Businesses Regulations 2003. It matters mainly for recruitment firms checking who to contact and which regulator now enforces the rules, following the creation of the Fair Work Agency.

From 7 April 2026 the Fair Work Agency (FWA) replaced the Employment Agency Standards (EAS) Inspectorate as the body named in the guidance.
On 29 October 2026 the department updated contact details at the bottom of each attachment from Employment Standards Agency to Fair Work Agency.
On 22 June 2026 the PDF version of the guidance was removed and replaced with an accessible HTML version.
Regulation 13A requires a 'Key information document' for agency workers, a requirement that took effect from 6 April 2020.
The guidance also covers Regulation 18 on information agencies must obtain from hirers and Regulation 21 on information to be provided to work-seekers and hirers.

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Federal Register — Treasury Source document ↗

United States Federal Register — Treasury Governance & Accountability ✓ 17 claims 29 Oct 2026

FinCEN renews OMB clearance for its service feedback survey program

A routine Paperwork Reduction Act notice covering FinCEN's generic clearance for collecting public feedback on its service delivery. The item matters mainly to institutions that receive FinCEN surveys and to compliance teams tracking reporting burden estimates, with a comment deadline of November 30, 2026.

Comments on the renewal are due on or before November 30, 2026, submitted via www.reginfo.gov.
FinCEN revised its estimates upward by approximately 28 respondents and six burden hours per year after identifying an additional survey for the collection.
The revision adds a total of 84 respondents and 18 hours over the full three-year period covered by this notice.
Estimated average number of expected respondents annually is 5,245, out of an estimated average potential pool of 39,755.
Estimated average total annual reporting burden is 1,502 hours, with an estimated total three-year reporting burden of 4,507 hours.

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ADGM Abu Dhabi — announcements Source document ↗

United Arab Emirates ADGM Abu Dhabi — announcements Governance & Accountability ✓ 13 claims 29 Oct 2026

ADGM fines MCA Auditors and audit principal $88,000 over audit failings

ADGM's Registration Authority has penalised an audit firm and its registered audit principal following an inspection of a single engagement for an ADGM-registered company. The case sets out the specific audit failings found and the factors the RA weighed in setting the penalty split between firm and individual.

The RA imposed USD 52,000 on MCA Auditors and Advisors LLP and USD 36,000 on its Audit Principal following an inspection.
Deficiencies were identified in risk assessment procedures, fraud risk considerations, group audit requirements, communications with those charged with governance, and insufficient evidence over material areas.
The RA found limited evidence of the Audit Principal's involvement throughout the engagement.
Penalties reflected cooperation provided, acknowledgement of inspection findings, and MCA's root-cause analysis and remediation plan.
Decision Notices describing the contraventions have been published separately for the firm and the Audit Principal.

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Department for Business and Trade — export control Source document ↗

United Kingdom Department for Business and Trade — export control Governance & Accountability ✓ 14 claims 28 Oct 2026

UK updates voluntary code for executive search firms on board diversity

This briefing covers a minor but notable update to the UK's voluntary code of conduct for executive search firms, which governs how search firms run board-level hiring processes. The code underpins gender diversity targets on UK boards and has just been amended twice in under a year.

The code of conduct was last amended on 28 October 2026 to remove 'FTSE' from references to the Women Business Leaders Review.
A 5 January 2026 update revised the introduction, provisions 1, 2 and 5, and the 'embedding and developing the code' section.
The code has set a longlist target of 40% since an update made on 16 March 2021.
Around 100 executive search firms have signed the code, which the department says cover the vast majority of UK board work.
The code originates from the 2011 Davies Review and was last substantively republished on 15 November 2017.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Governance & Accountability ✓ 17 claims 28 Oct 2026

ABA's new chair Cathy Owen names digital assets, fraud and cyber as 2026-27 priorities

The American Bankers Association profiles Cathy Owen, its 2026-27 chair and head of Arkansas-based Eagle Bank & Trust. Beyond the personal narrative, the piece sets out the three issues she intends to drive during her term: navigating the digital asset marketplace, and combating fraud and cybersecurity threats. For compliance leaders, it signals where the industry's largest trade body will focus its advocacy.

Cathy Owen becomes ABA chair for 2026-27, serving as executive chair of Eagle Bank & Trust and chair and CEO of its holding company.
She names digital assets as a top priority, citing goals to protect the marketplace, stay regulatorily compliant, grow thoughtfully and modernise.
Fraud and cybersecurity are also on her agenda, with an emphasis on protecting both banks and their customers.
Eagle Bank & Trust holds more than $500 million in assets and closed nearly 2,000 mortgage loans last year, all sold into the secondary market with servicing released.
Owen was the first female chair of the Arkansas Bankers Association and chaired the board that hired its first female president and CEO.

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HM Treasury Consultations Source document ↗

United Kingdom HM Treasury Consultations Governance & Accountability ✓ 15 claims 28 Oct 2026

HM Treasury consults on corporate tax simplification to support investment

HM Treasury has opened a short consultation on simplifying the UK Corporate Tax system to improve certainty and support business investment, growth and competitiveness. It identifies areas where stakeholders have raised concerns about complexity and administrative burden and asks for input before detailed proposals are developed. Responses close on 21 November 2026, and the government says it will spend the following year prioritising and testing options.

The consultation was published by HM Treasury on 28 October 2026 and closes at 11:59pm on 21 November 2026.
It explores targeted simplification of the Corporate Tax system to support investment, growth and competitiveness.
The document identifies areas where stakeholders have raised concerns about complexity, uncertainty and administrative burdens.
The government says it will work with stakeholders over the next year to prioritise and test options before developing detailed proposals for the highest-priority areas.
Responses can be submitted by email to ct.simplification@hmrc.gov.uk.

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FCDO — sanctions announcements Source document ↗

United Kingdom FCDO — sanctions announcements Governance & Accountability ✓ 12 claims 28 Oct 2026

HMRC to require VAT and PAYE Direct Debit mandates from April 2029

HMRC has published its response to a 2026 consultation on requiring VAT and PAYE payments by Direct Debit. This briefing covers the final policy decision, the new implementation date, and the flexibility businesses retain to use alternative payment methods.

The consultation on requiring VAT and PAYE payments by Direct Debit ran from 9:30am on 23 June 2026 to 11:59pm on 16 August 2026.
HMRC published a summary of responses and its final policy outcome on 28 October 2026.
Businesses will be required to have a Direct Debit mandate in place by April 2029.
Businesses will retain flexibility to pay VAT and PAYE by another method before the payment due date, even once a mandate is in place.

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HM Treasury Consultations Source document ↗

United Kingdom HM Treasury Consultations Governance & Accountability ✓ 14 claims 28 Oct 2026

HM Treasury reports back on business rates reform to lift investment

HM Treasury has published its summary of responses to the Business Rates and Investment Call for Evidence, part of its multi-year Transforming Business Rates programme. The exercise tested whether moving to a marginal tax rate and reforming the receipts and expenditure valuation method would ease barriers to capital investment. This item covers what was consulted on and where reform now sits.

The Business Rates and Investment Call for Evidence ran from 1pm on 26 November 2025 to 11:55pm on 18 February 2026, with a summary of responses added on 28 October 2026.
The government committed to explore moving to a marginal tax rate, where successive bands are taxed at increasing rates, following the Transforming Business Rates Interim Report.
Ratepayers with large capital expenditure raised concerns about the impact of the receipts and expenditure (R&E) valuation methodology on investment decisions.
The exercise also sought views on Small Business Rates Relief, Improvement Relief, Empty Property Relief, pre-list discussions and transparency.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Governance & Accountability ✓ 16 claims 28 Oct 2026

Public support for CEO activism on social issues continues to slip, surveys show

A review of two new surveys on corporate and CEO activism, published in ABA Banking Journal, tracks shifting public attitudes toward companies speaking out on social and political issues. For bank leadership and communications teams, the data bears on reputational risk management around public statements.

Approximately 55% of Americans believe CEOs should be outspoken on issues, down from 65% in 2018, per Stanford/Hoover research.
The Bentley-Gallup survey found the share believing businesses should be more vocal on controversial issues ticked down to 47% in 2026.
76% of Americans said they would be less likely to purchase from a company whose CEO spoke out on a disagreeable issue, up 14 percentage points from 2018.
62% of respondents could name a product or service they use less because of disagreement with a CEO's public stance, versus 40% who use one more for that reason.
Issues with lowest public support for business statements were religion (16%), abortion (22%), political endorsements (23%) and international conflicts (33%).

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Governance & Accountability ✓ 11 claims 28 Oct 2026

Outgoing ABA chairman urges bankers to advocate, innovate and partner

A short recap of the American Bankers Association's outgoing chairman's farewell speech, summarising a year of association priorities including bank regulation, digital assets, fraud and AI. Useful for tracking the trade group's stated advocacy agenda heading into the next leadership term.

Kenneth Kelly, chairman and CEO of First Independence Bank in Detroit, delivered his final speech as ABA chairman on October 26, 2026.
Kelly cited ABA-led efforts including a push to right-size bank regulation and advocacy for digital asset rules that maintain a level playing field between banks and crypto companies.
He also highlighted ABA's work helping banks fight fraud, plus initiatives around artificial intelligence and workforce development.
Kelly closed by urging bankers to 'advocate, innovate, and partner' in the months ahead.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Governance & Accountability ✓ 15 claims 28 Oct 2026

SEC notices Nilsine Partners co-investment exemptive order application

A routine but consequential SEC notice covers an exemptive application from Nilsine Partners NP1X Fund and affiliates seeking permission to co-invest alongside related entities, relief otherwise barred under the Investment Company Act's affiliate transaction rules. Fund counsel and compliance teams tracking co-investment structures should note the filing timeline and the narrow hearing window before the order can be granted.

The application was filed on February 18, 2026 and amended on July 15, 2026 and September 14, 2026.
Applicants seek relief under sections 17(d) and 57(i) of the Investment Company Act of 1940 and rule 17d-1 to permit co-investment transactions otherwise barred by sections 17(d) and 57(a)(4).
Hearing requests must be received by the Commission by 5:30 p.m. Eastern time on November 16, 2026, accompanied by proof of service on applicants.
An order granting the requested relief will be issued unless the Commission orders a hearing, meaning no hearing request results in automatic approval.
The full representations, legal analysis and conditions appear only in the applicants' second amended application dated September 14, 2026, available via EDGAR.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Governance & Accountability ✓ 10 claims 28 Oct 2026

SEC schedules closed meeting on enforcement and litigation matters for October 29

A routine Sunshine Act notice confirms the SEC will hold a closed meeting on October 29, 2026, covering enforcement and litigation matters. The notice itself carries no policy content, but it signals the categories of action the Commission is actively working through this week.

The SEC's closed meeting is scheduled for 2:00 p.m. on Thursday, October 29, 2026, at Commission headquarters or remotely.
The General Counsel certified exemptions under 5 U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) and (10) permit closing the meeting.
Matters to be considered include institution and settlement of injunctive actions and administrative proceedings.
The agenda also covers resolution of litigation claims and other examination and enforcement proceedings.
The notice warns that scheduling changes may occur and will be posted on the SEC's website.

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Federal Register — FDIC Source document ↗

United States Federal Register — FDIC Governance & Accountability ✓ 21 claims 28 Oct 2026

FDIC seeks comment on 2027 unbanked household survey questionnaire

A routine Paperwork Reduction Act notice covers the FDIC's tenth biennial Household Survey, which measures unbanked and underbanked rates nationwide. Compliance teams tracking financial inclusion data, CRA strategy or consumer access initiatives should note the comment window and the chance to influence survey content before the 2027 fielding.

Comments on the proposed 2027 survey instrument must be submitted to the FDIC by December 28, 2026.
The survey is estimated to cover 40,000 respondents at an average of 9 minutes per response, totaling 6,000 annual burden hours.
The 2027 Household Survey will be conducted as a supplement to the Census Bureau's June 2027 Current Population Survey.
The survey fulfils a mandate under section 7 of the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (Pub. L. 109-173) to study unbanked households.
The survey has been administered every other year since January 2009 and is the only population-representative survey providing state-level unbanked estimates for all 50 states and DC.

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FINRA Source document ↗

United States FINRA Governance & Accountability ✓ 10 claims 27 Oct 2026

FINRA to host webinar on large IPO underwriting readiness for member firms

FINRA is running a short webinar aimed at member firms that underwrite, or plan to underwrite, large IPOs on a firm commitment basis. The session is for compliance, capital planning and operations staff who need a structured checklist before taking on or scaling an underwriting business line.

The webinar is scheduled for Thursday, Nov. 5, from 2 to 2:30 p.m. ET.
FINRA lists six topic areas including capital planning and subordinated loans, and funding, liquidity and reserve computations.
The session targets firms already engaged in, or considering, firm commitment underwritings.
Registrants must complete a sign-up form and may need to look up their firm's CRD number via BrokerCheck.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Governance & Accountability ✓ 20 claims 27 Oct 2026

Texas Stock Exchange sets $325,000 entry fee for new corporate listings

Texas Stock Exchange has filed a new fee schedule with the SEC covering entry fees, application fees and annual listing charges for corporate issuers. The filing took immediate effect under the Exchange Act's expedited process. Listings counsel and issuers evaluating TXSE should understand the fee mechanics, exemptions and how they compare to incumbent exchanges.

Operating companies pay a one-time Entry Fee of $325,000 on the date of listing, while SPACs pay a flat $80,000 Entry Fee.
Companies transferring a listing from another national securities exchange are exempt from both the Entry Fee and the Initial Application Fee.
The primary-listing annual fee equals the greater of a minimum fee or shares outstanding multiplied by $0.001250 per share, subject to a $250,000 maximum, with a $70,000 minimum for common shares.
Companies with Dually-Listed Securities pay a flat Company-wide All-Inclusive Annual Fee of $600,000, prorated in the year the dual listing becomes effective.
The rule took effect immediately under Section 19(b)(3)(A) and Rule 19b-4(f)(2), with comments due on or before November 13, 2026.

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CISA Advisories Source document ↗

United States CISA Advisories Governance & Accountability ✓ 18 claims 27 Oct 2026

CISA warns of critical EPICS Base flaw enabling remote code execution

CISA has published an ICS advisory covering four vulnerabilities in EPICS Base, open-source control system software used across the critical manufacturing sector worldwide. One flaw carries a critical CVSS score with potential for remote code execution. This briefing sets out the affected versions, the fixes available, and CISA's recommended interim mitigations for operators who cannot patch immediately.

EPICS Base release 7.0.10 and earlier is affected by four vulnerabilities: CVE-2026-114595, CVE-2026-114596, CVE-2026-114597 and CVE-2026-114598.
CVE-2026-114595 carries a CVSS v3.1 base score of 9.8 (critical) and could permit remote code execution via an integer overflow in network request processing.
The EPICS Community has published remediations on GitHub and affected users should update to the 7.0.11 release.
CISA states no known public exploitation specifically targeting these vulnerabilities has been reported to date.
The vulnerabilities were reported to CISA by Shubham Raj of Cipher / Causal Security and affect the critical manufacturing sector worldwide.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Governance & Accountability ✓ 15 claims 27 Oct 2026

PlayPower abandons bid for rival Burke after FTC merger lawsuit

The FTC's Bureau of Competition confirms PlayPower and owner Platinum Equity have dropped their proposed acquisition of BCI Burke, a week after the agency and a dozen states sued to block it. This brief statement sets out the FTC's view of market concentration and the deal's effect on school, church and municipal playground buyers.

PlayPower and Platinum Equity abandoned the proposed acquisition of BCI Burke after the FTC and a dozen states sued to block the merger.
The FTC says the top five manufacturers of commercial outdoor playground equipment, including PlayPower and Burke, control 85%-90% of the market.
The proposed merger would have cut the number of major competitors from five to four.
The deal would have given PlayPower's owners control over more than 30% of the relevant market.
The FTC describes this as the latest in a series of acquisitions by PlayPower.

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Federal Register — State Department Source document ↗

United States Federal Register — State Department Governance & Accountability ✓ 15 claims 27 Oct 2026

State Dept grants import protection for Madagascar textile exhibition

A brief but binding administrative notice: the State Department has determined that objects loaned for an exhibition on Malagasy Merina Kingdom textiles are culturally significant and that their display serves the national interest, triggering statutory protections for the loan period.

The determination covers objects imported for the exhibition at The Cleveland Museum of Art, Cleveland, Ohio.
The notice also contemplates possible additional exhibitions or venues yet to be determined.
The determination was made under the Act of October 19, 1965 (22 U.S.C. 2459) and Executive Order 12047 of March 27, 1978.
The notice cites Delegation of Authority No. 234 of October 1, 1999, No. 236-3 of August 28, 2000, and No. 523 of December 22, 2021.
The notice is signed by Sherry C. Keneson-Hall, Principal Deputy Assistant Secretary for Educational and Cultural Affairs.

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FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 21 claims 27 Oct 2026

FCA confirms Bullseye Financial has entered administration

The FCA has published a customer notice confirming that Bullseye Financial Ltd, an FCA-authorised firm serving only professional investors, entered administration on 23 October 2026. The notice directs customers to the joint administrators, flags FSCS and Ombudsman routes, and warns about recovery-room scams. It also records a link to HDH Investment Services Ltd, which went into liquidation in April.

Bullseye Financial entered administration on 23 October 2026, with joint administrators from Azets and RSM UK appointed.
The firm served only professional investors, providing discretionary management or execution-only dealing without investment advice.
On 11 March 2026 the firm agreed a voluntary requirement to cease all regulated activity.
Bullseye Financial provided some services to clients of HDH Investment Services Ltd, which entered liquidation on 16 April 2026.
The FCA says the firm remains authorised and supervised and must still comply with FCA rules, while the administrators answer to their own regulators and insolvency law.

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HM Treasury Source document ↗

United Kingdom HM Treasury Governance & Accountability ✓ 17 claims 27 Oct 2026

HM Treasury issues August 2026 Preston factors for part-time pension reinstatement

HM Treasury has released the August 2026 Preston factors, the actuarial earnings and interest figures employers use to cost retrospective occupational pension service for part-time workers entitled to reinstatement. The release follows the 2000/2001 ECJ and House of Lords rulings. It matters to anyone administering a scheme with outstanding Preston reinstatement claims, because these factors set what a reinstated member must pay.

HM Treasury published the Preston guidance for August 2026 on 1 October 2026 for use by employers.
The release contains two Excel files: the Preston factors (95.2 KB) and an Employee NICs Rebate file (56.2 KB).
The factors price retrospective occupational pension service at an actuarially fair cost under the guidance.
The stated aim is to leave reinstated part-timers no better and no worse off than if they had contributed when originally employed.
The guidance follows the European Court of Justice and House of Lords rulings in 2000/2001 on part-timers' retrospective scheme access.

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FCA Source document ↗

United Kingdom FCA Governance & Accountability ✓ 23 claims 27 Oct 2026

FCA survey finds firm satisfaction up to 79%, trust rises to 75%

The FCA has published results from its annual survey with the Practitioner Panel, measuring how regulated firms view its performance. The data cover satisfaction, trust, effectiveness and understanding of specific objectives including Consumer Duty and the secondary competitiveness objective. Compliance and government affairs teams tracking the FCA's relationship with industry and its simplification agenda should note the figures.

79% of firms reported high satisfaction with their FCA relationship, up from 74% last year.
76% of firms rated the FCA a highly effective regulator, up from 69%, and 75% reported high trust.
Understanding of the Secondary International Competitiveness and Growth Objective rose 27 percentage points, with confidence in its delivery up 25 points.
88% of firms said they understand FCA expectations on supporting consumers and embedding the Consumer Duty.
The FCA says it is removing outdated or duplicated data returns for 90% of firms and delivered an estimated £5.6bn in benefits to consumers and the economy in its strategy's first year.

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BIS Press Releases Source document ↗

India BIS Press Releases Governance & Accountability ✓ 20 claims 27 Oct 2026

RBI deputy governor sets out ten-point technology and cyber risk framework

A speech by RBI Deputy Governor Rohit Jain lays out how the central bank views technology, cybersecurity and AI risk in Indian banking, citing UPI's scale and a list of past incidents to justify ten specific supervisory priorities for institutions to adopt now.

UPI processed 24.9 billion transactions valued at approximately ₹30.15 lakh crore in August 2026, equivalent to nearly 79 crore transactions daily.
UPI's transaction volume has increased nearly 13,000-fold over the past decade, processing 24,162 crore transactions during FY 2025-26.
Jain set out ten key requirements for technology and cyber risk management, covering governance translation into outcomes, visibility, legacy vulnerabilities, identity and access, control effectiveness, pace alignment, third-party dependency, post-incident learning, recovery testing and architecture constraints.
The speech states that technology may be outsourced but accountability may not, requiring banks to retain understanding of access controls, concentration, recoverability, data protection and exit options for external providers.
Past incidents cited as lessons include the 2018 cyberattack on a cooperative bank involving SWIFT network misuse, the 2017 Equifax data breach, and the 2024 CrowdStrike software outage.

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CSSF Luxembourg Source document ↗

CSSF Luxembourg Governance & Accountability ✓ 15 claims 26 Oct 2026

CSSF publishes feedback report on NAV error notification circular 24/856

The CSSF has released a feedback report covering the first year of operation of Circular 24/856, which governs investor protection following NAV calculation errors, investment rule breaches and other errors at UCI level. The report shares statistics and observations from 2025 notifications and highlights points firms should consider in future submissions.

Circular CSSF 24/856 entered into application on 1 January 2025, repealing Circular CSSF 02/77 on the same date.
The CSSF introduced a secure transmission channel for notification forms via the eDesk platform, with an alternative automated submission route via API using the S3 protocol.
A user guide titled 'UCI notification in accordance with Circular CSSF 24/856 – Practical and technical guidance' has been published alongside the Circular.
The Feedback Report presents statistics on notifications submitted during 2025 and observations on the different errors and instances of non-compliance covered.
All entities within scope of Circular CSSF 24/856 are expected to give due consideration to the report's observations when preparing and submitting notifications.

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BIS Press Releases Source document ↗

European Union BIS Press Releases Governance & Accountability ✓ 19 claims 26 Oct 2026

ECB's Elderson defends deliberate de-prioritisation in bank supervision

Frank Elderson, ECB Supervisory Board Vice-Chair, sets out the three pillars reshaping euro area bank supervision: risk prioritisation, procedural simplification and faster enforcement escalation. He gives concrete figures on guidance cuts, approval timelines and stress-test data reduction, and argues that strong prudential standards and competitiveness are not in tension.

The ECB's Risk Tolerance Framework formally accepts that lower-priority risk areas at individual banks will not receive the same intensive scrutiny every year.
The ECB has reviewed more than 100 supervisory guidance publications, discontinuing around 40 of them.
Processing time for standardised, less-risky securitisation transactions has fallen from three months to an average of around seven days.
Stress-testing data points have been reduced by around 55%, and approval timelines for capital-related decisions have fallen to less than six days.
The non-bank financial sector has doubled in size since 2008 and now accounts for over half of euro area financial sector assets.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Governance & Accountability ✓ 12 claims 26 Oct 2026

ABA podcast: how bankers can proactively manage core technology providers

The ABA Banking Journal Podcast features Steve Lewis, president and CEO of Thomaston Savings Bank and a member of ABA's Core Platforms Committee, on managing relationships with core technology providers. For compliance and operations leaders responsible for vendor oversight, it is a short, practical account of where a bank retains leverage even against a provider with significant market power.

Steve Lewis recommends that bankers review and reconcile bills from their core providers.
He advises monitoring for service-level agreements with the core provider.
He recommends meeting regularly at executive level with the core provider to understand its strategic roadmap and how it corresponds to the bank's own roadmap.
Lewis says technology is not the strategy and that banks should define what they want to deliver to clients before integrating the technology to do it.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Governance & Accountability ✓ 15 claims 26 Oct 2026

NYSE moves to scrap 'approved person' category, align with FINRA definition

NYSE filed a rule change with the SEC on September 18, 2026 eliminating its longstanding approved person registration category and replacing it with an associated person definition modelled on FINRA Rule 1011(b). The filing matters to member organizations and control persons whose Form BD-based disclosures will now substitute for a separate Exchange-specific registration track.

NYSE filed SR-NYSE-2026-47 with the SEC on September 18, 2026, published for comment on October 1, 2026 as release 34-106566.
The filing deletes the 'approved person' category from Rule 2(c) and Rule 304 and replaces it with a new 'associated person' definition based on FINRA Rule 1011(b).
NYSE states control relationships formerly tracked via approved person registration are already disclosed through Schedules A and B of Form BD in the CRD system.
A new Supplementary Material .30 would define 'Control Persons' as both direct and indirect owners identified on Schedules A and B of Form BD.
Conforming changes replace 'approved person' and related employee references with 'associated person' in Rule 2A and in Rules 5.2, 8.204(f)(2), 8.300(e)(2), 8.400(e)(2) and 8.700.

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