Regulatory Blog

On 12 March 2026, the European Securities and Markets Authority released findings and proposed actions to enhance the retail investor journey, based on its 2025 Call for Evidence. The initiative aims to address barriers faced by retail investors in accessing EU capital markets, focussing on both regulatory and non-regulatory challenges.

On 27 April 2026, the Jersey Financial Services Commission introduced "focus examinations" as part of its 2026-2030 strategy to adopt a more risk-based and proportionate supervisory approach. These examinations are designed to assess compliance with regulatory requirements in specific, clearly defined areas, offering a streamlined alternative to full-scale examinations.

On 27 March 2026, the European Commission initiated infringement procedures against several EU Member States for failing to fully transpose key EU directives into their national laws by the required deadlines. These actions aim to ensure compliance with EU legislation and safeguard harmonisation across the EU.

On 22 April 2026, the CSSF announced updated procedures for cross-border management notifications and de-notifications for Luxembourg-domiciled Investment Fund Managers operating under a European passport. These changes, effective from 22 April 2026, aim to enhance efficiency and transparency in the notification process using digital platforms.

On 16 February, the British Virgin Islands Financial Services Commission published Industry Circular 5 of 2026, highlighting the critical importance of ongoing Customer Due Diligence and transaction monitoring for Financial Institutions and Designated Non-Financial Businesses and Professionals. While initial CDD establishes a foundational understanding of customer profiles and risks, the BVI FSC underscores that ongoing CDD is essential to address changes in customer circumstances or activities.

The Income Tax (Amendment) Law 2026 was officially published in the Gazette of the Republic of Cyprus on 6 March 2026. The Income Tax Amending Law introduces amendments to the existing Income Tax Law 2002, as amended, with the following key provisions:

On 10 April 2026, the CSSF issued a communication to the investment fund industry regarding the activation of the "Liquidity Management Tool" module. This follows the implementation of additional liquidity management requirements introduced by the Law of 3 March 2026, which transposes Directive (EU) 2024/927.

The British Virgin Islands Financial Services Commission successfully concluded its 2026 "Meet the Regulator" Forum series, fostering robust dialogue and engagement across key global markets. The series began in the BVI on 17 February 2026, with over 200 stakeholders from various financial sectors, including trust services, insurance, and virtual assets.

On 13 March 2026, the Cyprus Securities and Exchange Commission issued Circular 759, to inform relevant entities about the adoption of the European Securities and Markets Authority’s guidelines on outsourcing to cloud service providers. This replaces Circular 457 from July 2021.

On 6 March 2026, Luxembourg's Commission de Surveillance du Secteur Financier issued updates regarding the Anti-Money Laundering and Countering the Financing of Terrorism data collection exercises for 2026. These updates aim to streamline processes and align with European standards.

European Union has issued significant and far-reaching sanctions and restrictive measures on Russia and the Russian Economy. View a table of all the sanctions here.

On 23 April 2026, the Council of the European Union formally adopted its 20th package of restrictive measures against the Russian Federation in response to Russia's ongoing war of aggression against Ukraine. It features 120 additional individual listings, the largest number in two years, and multi-layered economic sanctions.