Compliance & Ethics

Sweden's Finansinspektionen (FI) has notified the EBA that it intends to comply with the amended Guidelines on the application of the definition of default (EBA/GL/2026/05), which take effect on 19 October 2026. The guidelines apply to institutions using either the standardized or internal approach for credit risk capital requirements. Compliance teams at Swedish-supervised institutions should treat the guidelines as the expected supervisory standard and finalize implementation plans now.

CFTC staff (DCR and MPD) will not recommend enforcement action against Eurex Clearing or its FCM clearing members for holding customer securities as cleared swap margin at Clearstream Banking S.A. (CBL) in Luxembourg, despite Regulations 1.49(c)(1), 1.49(e)(1)(i), and 22.9. The relief carries seven conditions, including customer disclosures, a six-jurisdiction collateral restriction, and annual custody-chain due diligence. FCMs and customers need to confirm they can meet these conditions before relying on it.

The FCA has issued a warning about NovaTask, an unauthorized clone firm that is impersonating the FCA-authorized Nova Business Finance Ltd (FRN 1016336) to solicit consumers. Compliance teams should treat the listed identifiers as indicators of fraud for screening, monitoring, and customer-protection purposes, because clone firm scams can lead to customer losses, reputational harm, and payment-related fraud exposure.

Governor Bailey said the Monetary Policy Committee held rates, warned that decisions become harder the longer the Gulf conflict and high energy prices persist, and described a clearer quantitative tightening (QT) path for gilt sales through 2034. Compliance teams should note the implications for interest rate risk, mortgage pricing, customer outcomes, and market-sensitive communications. This is a transcript of interview remarks, not a new rule, so it creates no direct regulatory obligations.

De Nederlandsche Bank has collected a penalty of EUR $100,000 from trust office Erez Corporate Service B.V. after it failed to remedy serious Wtt 2018 deficiencies within a six-month grace period. The deficiencies concerned its Systematic Integrity Risk Analysis (SIRA), procedures manual, and customer due diligence (CDD). The case shows that DNB will escalate from an order subject to penalty to financial penalties when remediation is inadequate, and that the decision is now final.

The CFTC's Market Participants Division has issued a broadly available no-action position for providers of passive trading software. Subject to specified conditions, staff will not recommend enforcement action for failure to register as an introducing broker (IB) or associated person (AP) of an IB. Compliance teams should confirm whether their software offerings or vendor relationships fit within the relief and whether the conditions are met.

The CNMV's September 2026 newsletter announces an agreement with Autocontrol to promote responsible financial advertising. It also covers AI-assisted reviews of advertising by investment management companies, results of an AML/CFT report review, and several published sanctions. The newsletter is a headline digest with little detail, but it signals where supervisory attention is heading.