FSMB publishes 2026 workplan

The Financial Markets Standards Board (FMSB) has published its 2026 Workplan.

The plan sets out a number of initiatives around each key topic area, including:

• Market practices:
  • Pre-heding disclosure and consent
  • Grey market tading
  • Market quotation mechanisms
  • New issuance swaps
  • Price discovery
• Electronic trading and technology:
  • Market-facing AI applications
  • Applying model risk management frameworks to electronic trading algorithms
• Sustainable finance – horizon scanning
• Conduct and ethics:
  • Non-financial risk
  • Non-financial misconduct
• Market infrastructure and operations:
  • Client onboarding
  • Standard settlement instructions
  • Digital identity
  • Cyber risk due diligence
  • Stablecoins and tokenised deposits