Guarantees: Strict Compliance Is Not Strictly Necessary

The Financial Conduct Authority has released comprehensive perimeter guidance for the UK's new regulated cryptoasset activities regime, clarifying when firms will need authorization and how the regulatory framework applies to qualifying cryptoassets and stablecoins. The guidance addresses critical questions about scope, territorial application, and the narrower "by way of business" test that determines which entities fall under the new regulatory requirements.

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.

The Financial Conduct Authority has released a comprehensive package of regulatory updates and findings covering investment management, wealth management, and consumer protection. Key developments include reforms to MiFID costs and charges disclosures, remuneration code changes, AIFM regime overhauls, and detailed reviews of firms' Consumer Duty compliance, financial crime controls, and governance frameworks.

In July 2017, the FCA published its Enforcement annual performance account for 2016/17.

The London Stock Exchange has implemented sweeping reforms to the AIM Rules, fundamentally reshaping admission requirements, transaction thresholds, and governance obligations for companies on the Alternative Investment Market. These changes eliminate longstanding requirements like working capital statements and corporate governance codes while introducing new features such as capital access windows and special voting shares, marking the most significant overhaul of AIM regulations in recent years.

Cryptoasset firms face a rapidly evolving regulatory landscape as the FCA's authorisation gateway opens on 30 September 2026. With the Financial Services and Markets Act 2000 (Cryptoassets) (Miscellaneous Amendments) Regulations 2026 laid before Parliament and the FCA's finalised PERG 18 guidance published within 24 hours, firms must navigate significant perimeter changes including new stablecoin payment exclusions.

On 14 July 2026, HM Treasury published its long-awaited consultation on modernising the UK’s payment services and electronic money regulatory framework. The consultation is part of the Government’s National Payments Vision agenda, which aims to ensure that the UK has a trusted, world-leading payments ecosystem delivered on next generation technology, while preserving choice for consumers and businesses.

The European Parliament has published its negotiating position on SFDR 2.0, setting the stage for trilogue negotiations between the Commission, Parliament and Council. With the asset management industry hoping for relief from the complexities of SFDR 1.0, the Parliament's proposals claim to simplify the regime while maintaining credibility of sustainability-related investments.

This weekly bulletin examines critical developments in UK financial regulation, including the FCA's findings on systemic operational resilience from its Defence, Security, and Resilience Lab exercise, the government's comprehensive consultation on modernising corporate reporting frameworks, and progress on the Financial Services and Markets Bill through Parliament. The bulletin also covers international regulatory updates on cyber resilience for financial market infrastructures, sustainable finance disclosu

Challenger banks have achieved a great deal of success since they burst on the scene in a big way a decade or so ago to vie with traditional retail banks for a share of the market.

The term "Hansa" has re-emerged in modern geopolitical discourse, most notably through the 2026 Germany-Norway defence cooperation framework. This article examines how the principles of the medieval Hanseatic League—flexible coordination, shared standards, and mutual benefit without centralization—are being adapted to address contemporary challenges in defence, security, and cross-border collaboration.

Prime Minister Mark Carney announced on September 15, 2026, that the federal government will open Canada’s four largest airports to private investment through long-term concession arrangements. Speaking at the inaugural investment summit, Prime Minister Carney outlined a vision to unlock new capital and operational expertise while retaining public ownership of the underlying land and assets.

European Commission President Ursula von der Leyen has invited Canada to become the first associate member of the EU, with Prime Minister Mark Carney accepting the proposal to pursue an "Alliance for the Future." The partnership would build on existing bilateral agreements with Germany, Spain, and Italy, potentially enabling free flow of goods, services, and workers across strategic sectors including energy, critical minerals, artificial intelligence, defence, and advanced manufacturing.

Starting October 5, 2026, Québec will introduce a new statutory warranty of good working order for consumer goods such as appliances and electronics, with minimum warranty periods ranging from 3 to 6 years. The legislation imposes disclosure obligations on manufacturers and merchants while prohibiting any attempts to exclude or limit this warranty. Businesses operating in Québec must adapt their practices to comply with these consumer protection requirements or face potential compliance issues.

Canada has initiated anti-dumping and countervailing duty investigations into truck and bus tires from China, with preliminary determinations expected by November 30, 2026. Producers, exporters, and importers—including companies from Korea, Japan, and Singapore with Chinese operations—face critical September and October deadlines to submit comprehensive responses or risk significantly higher duty rates.

The National Cyber Security Centre emphasizes five critical areas requiring director-level attention: risk management, strategy, people, incident planning and response, and assurance oversight. Organizations must establish robust governance frameworks to address evolving cyber threats and ensure comprehensive resilience across their operations.

Canada's new Productivity Mega Deduction promises to slash the marginal effective tax rate on business investment to just 6.4%, positioning the country as the most competitive G7 nation for capital deployment. This permanent tax incentive extends immediate expensing to roughly 65% of capital assets, fundamentally reshaping the economics of investing in Canadian operations across manufacturing, energy, technology, and resource sectors.

The Canada Revenue Agency has announced a new policy to prioritize advance income tax ruling requests for investments of $1 billion or more in Canada. This initiative aims to provide greater tax certainty and reduce risks for major investors, potentially accelerating large-scale project development and strengthening Canada's economic competitiveness. However, questions remain about implementation timelines and potential impacts on smaller ruling requests.

On September 21, 2026, the federal government introduced Bill C-39, the Building Canada Strong Act. It is the latest and most comprehensive instalment in a series of federal reforms that began in 2025 with the Building Canada Act and the creation of the Major Projects Office.

Health Canada's recent enforcement action against unauthorized injectable peptides signals a regulatory shift that wellness companies cannot afford to ignore. While peptides dominate influencer marketing and online wellness spaces, their legal status in Canada depends on factors far more complex than social media trends suggest. Understanding how route of administration, therapeutic claims, and market authorization intersect is now critical for compliance.