Emma RadmoreThe May 2026 edition of the Regulatory Initiatives Grid sets out the regulatory pipeline for the next 2 years. Highlights include:
- For Q2 2026
- HMT consultation on review of assimilated payments law, including approach to Open Banking and stablecoin payments – feedback by year end
- further consultations on application and requirements of Consumer Duty, including through distribution chains
- consultation on small changes to DEPP
- mortgage responsible lending consultation paper (with policy statement in Q4)
- guidance on automated decision making and profiling
- ringfencing review policy statement (now published)
- safeguarding rule changes for payments in force May 2026
- consultation on simplifying insurance rules – feedback by year end
- consultation on UK captives regime
- consultation on SIPPs due diligence and pension schemes money and assets regime
- For Q3 2026
- BNPL changes take effect 15 July
- probable consultation on Open Banking Long-Term Regulatory Framework Interface rules
- Updating of FCG September/October 2026
- Pure protection market study results
- solo remuneration rule review consultation
- mid-2026, draft legislation and FCA consultation on AIFMD reform
- feedback on expanding consumer access to investments
- consultation on financial promotion rules for mainstream investments
- consultation on consumer investment disclosures
- For Q4 2026
- consultation on ICT and cyber risk management and resilience for dual authorised firms
- update on later life mortgages
- policy paper on CONC 3 review
- policy statement on modernising liquidity policy framework
- LTI flow limit changes implemented by year end
- various crypto asset papers in line with roadmap
- policy statement on advice guidance boundary review
- final rules on client categorisation and conflicts review
- For 2027 and beyond
- Pillar 3 disclosure changes effective from 1 January
- majority of Basel 3.1 package implemented
- consultation on investment firm prudential regime review following likely Call for Input in H2 2026
- potential consultations on rule changes on later life mortgages
- access to cash review results published
- crypto regulatory regime takes effect October 2027
- FCA consultations on review of assimilated payment laws with associated legislation
- implementation of funded reinsurance changes
- Unknown
- FCA consultation on reform of redress framework consequent on legislative changes (timing unknown)
- FCA consultation on reforms to Appointed Representative regime consequent on legislative changes (timing unknown)
- legislation to reform CCA following May 2025 policy statement