On 19 May 2026, the Department for Business and Trade (DBT) issued two new general trade licences under the Russia (Sanctions) (EU Exit) Regulations 2019 (the Russia Regulations), both of which came into force on 20 May 2026. The licences sit alongside the latest amendments to the regime, which introduced new prohibitions on the import of processed oil products derived from Russian crude and on the maritime transportation of Russian liquefied natural gas (LNG) — measures that

The Financial Conduct Authority (FCA) and the Bank of England have set out a shared long-term vision for the use of tokenisation and distributed ledger technology (DLT) in UK wholesale markets, giving firms greater certainty as they consider adopting these technologies. Tokenisation involves creating a digital representation of a real-world asset – such as a share, bond or unit of currency – on a digital ledger. The regulators believe it has the potential to streamline the is

On 15 May 2026, the Financial Conduct Authority (FCA), the Bank of England (BoE) and His Majesty's Treasury (HMT) published a joint statement setting out their expectations for how regulated firms and financial market infrastructures (FMIs) should respond to the escalating cyber risks posed by frontier artificial intelligence (AI) models. The authorities warn that the cyber capabilities of current frontier AI models are already exceeding what a skilled practitioner could achi

The UK government has brought into force the Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026, introducing a series of technical but operationally significant updates for firms subject to UK sanctions compliance obligations. The changes affect reporting thresholds, licensing procedures and the interpretation of existing sanctions exceptions. Firms operating in regulated sectors, particularly those with anti-money laundering and sanctions reporting obligations,

FinCEN’s 11 May 2026 Alert signals a renewed enforcement focus on Iran-linked illicit finance, with particular attention on the Islamic Revolutionary Guard Corps (IRGC), its oil smuggling networks and the financial infrastructure used to move proceeds through the international system. The Alert is significant because it connects several core risk areas: shadow fleet activity, front company abuse, exchange house networks, money services businesses, trust and company service pr

The Financial Crimes Enforcement Network (FinCEN) has issued a 60 day notice inviting public comment on the renewal of the Office of Management and Budget control number covering the Registration of Money Services Business (RMSB) framework. Published on 30 April 2026, the notice relates to requirements set out in 31 CFR 1022.380 and the continued use of FinCEN Form 107. The RMSB regime forms a core part of the Bank Secrecy Act compliance architecture in the United States, req

The Department for Business and Trade has introduced new Sanctions End-Use Controls (SEUC), marking a significant escalation in the UK’s efforts to prevent the circumvention of trade sanctions. Published on 22 April 2026, the guidance clarifies how exporters must respond where there is a credible risk that goods routed through third countries could ultimately reach sanctioned jurisdictions or individuals. At its core, SEUC creates a targeted licensing mechanism. Unlike tradit

The forthcoming Sanctions EU Exit Miscellaneous Amendments Regulations 2026 introduce a series of targeted but operationally significant changes to the UK sanctions framework. While largely technical in nature, the reforms are clearly designed to streamline compliance obligations, remove inconsistencies and enhance the flexibility of the Office of Financial Sanctions Implementation OFSI. A notable change is the shift from euro denominated thresholds to pound sterling across r

The UK government has confirmed its intention to abolish the Payment Systems Regulator (PSR) and consolidate its functions within the Financial Conduct Authority (FCA), marking a significant structural shift in the oversight of payment systems. The consultation outcome, published on 21 April 2026, signals broad industry support for a more unified regulatory framework, but also highlights execution risks that will determine whether the reform delivers meaningful efficiency gai

The FCA has launched a consultation on guidance for firms that may fall within the UK’s future cryptoasset regulatory regime, marking another significant step towards full crypto regulation from October 2027. The consultation follows confirmation by Parliament of the cryptoasset activities that will be brought within scope. The FCA is now seeking views on how it interprets regulated activities including issuing qualifying stablecoins, operating trading platforms, dealing and

The Office of Financial Sanctions Implementation (OFSI) has published its Strategy for 2026 to 2029, signalling a decisive shift towards intelligence led enforcement, faster licensing and deeper international coordination. The strategy reflects a more complex geopolitical and financial crime landscape, where sanctions are increasingly central to national security and economic resilience. At its core is the Promote, Enable, Respond and Change (PERC) framework, designed to resh

The European Banking Authority has issued a new Decision designed to simplify how national authorities report SEPA data to EU institutions, marking a practical but important step in the implementation of the bloc’s instant payments regime. Published on 10 April 2026, the measure creates a single reporting channel from National Competent Authorities, or NCAs, to the EBA, which will then transmit the information to the European Commission. The move is intended to reduce duplica