Regulation
The Travel Rule: Data Required for Digital-Asset Transfers
A first-principles guide to The Digital-Asset Travel Rule, including its operating chain, economics, authoritative records, failure modes, and the evidence investors or operators should verify.
Crypto Crime Prevention Needs More Than Strict Laws
A financial penalty only discourages misconduct when the person considering it believes there is a meaningful chance of being caught. That simple distinction helps explain why increasingly detailed cryptocurrency regulations can coexist with fraud, money laundering, and failures that leave…
FCA Proposes 90-Day Notice Periods for Funds Holding Illiquid Assets
The Financial Conduct Authority on 8 October 2026 published proposed rules that would require investors in UK authorised retail funds invested mainly in inherently illiquid assets, such as property, to give at least 90 days’ notice to access their money,…
ESMA Expects Crypto Firms to End Services for Non-MiCA Stablecoins
The European Securities and Markets Authority (ESMA), the EU regulator and supervisor, published an opinion on 8 October 2026 setting out supervisory expectations that crypto-asset service providers (CASPs) authorised under the Markets in Crypto-Assets Regulation (MiCA) cease providing services related…
ESMA Signals Continued EU Access to Third-Country CSD Services
The European Securities and Markets Authority (ESMA) published a public statement on 7 October 2026 stating that EU market participants should not lose access to the notary and central maintenance services of third-country central securities depositories (CSDs) after 17 January…
PRA Proposes Automatic Indexation of 128 Regulatory Thresholds
The Prudential Regulation Authority proposed on 7 October 2026 that 128 regulatory thresholds across banking, insurance and credit unions increase automatically in line with UK nominal Gross Domestic Product, replacing the manual, ad hoc updates that currently take place. The…
Former Western Asset Co-CIO Leech Consents to $3 Million SEC Judgment
The U.S. Securities and Exchange Commission on October 6, 2026, moved for entry of a final judgment by consent against Stephen Kenneth Leech II, the former co-chief investment officer of registered investment adviser Western Asset Management Company LLC, in the…
CFTC Relief Lets Perpetual-Style Index Futures Become True Perpetuals
The Commodity Futures Trading Commission’s Division of Market Oversight on October 5, 2026 announced no-action relief allowing designated contract markets to convert their existing perpetual-style broad-based security index futures contracts into true broad-based security index perpetual futures. Under the relief,…
CFTC Seeks Comment on Rules for Retail Crypto Trading and Markets
The Commodity Futures Trading Commission on October 5, 2026 published an advanced notice of proposed rulemaking, or ANPRM, seeking public comment on its intent to establish a comprehensive regulatory framework of fit-for-purpose rules under section 2(c)(2)(D) of the Commodity Exchange…
Basel III Rules Published in Three Quarters of Member Jurisdictions
The Basel Committee on Banking Supervision reported on 5 October 2026 that three quarters of its 27 member jurisdictions have now published regulations implementing the full set of Basel III standards, and that almost all member jurisdictions have publicly announced…
Federal Reserve Approves Fleur Capital’s Simmesport Bank Acquisition
The Federal Reserve Board on October 2, 2026, announced its approval of an application by Fleur Capital Corporation to become a bank holding company by acquiring Simmesport State Bank, both of Simmesport, Louisiana. The Board’s order, issued under section 3…
CME Group Withdraws Filing for 24/7 10-Barrel WTI Crude Oil Futures
CME Group said in an October 2, 2026 statement that it is suspending plans to launch its 10-Barrel WTI Crude Oil futures contract and is withdrawing its filing to launch the product, which the exchange had designed as the first…
Ontario Bancorporation Enters Written Agreement With Chicago Fed
The Federal Reserve Board announced on October 2, 2026, the execution of a Written Agreement, dated September 24, 2026, between Ontario Bancorporation, Inc., of Ontario, Wisconsin, and the Federal Reserve Bank of Chicago. The agreement immediately requires prior regulatory approval…
Two CFTC Divisions Extend Brexit No-Action Relief Through 2027
The Commodity Futures Trading Commission’s Market Participants Division and Division of Market Oversight announced on October 1, 2026, that they are extending temporary no-action positions taken in response to the United Kingdom’s withdrawal from the European Union, known as Brexit.…
SEC Charges Two Over $8.7 Million Fraud Targeting Veterans
The U.S. Securities and Exchange Commission announced charges on September 30, 2026, against Christopher Kenji Dinelli and Jacob David “Kobe” Frankel for allegedly orchestrating a fraud scheme that raised more than $8.7 million from 35 investors through their fund, Beyond…
