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

The Office of Trade Sanctions Implementation (OTSI) has announced a significant expansion of its licensing remit, marking a structural shift in the UK’s export sanctions framework. From 27 April 2026, OTSI will assume responsibility for licensing sanctioned goods and associated ancillary services exported to sanctioned destinations, building on its existing role overseeing standalone services such as professional and business services. This change clarifies the division of re

The US Treasury has moved quickly to put the GENIUS Act into operation, with FinCEN and OFAC jointly proposing a rule that would bring permitted payment stablecoin issuers into a formal anti-money laundering and sanctions compliance framework. The proposal is designed to support the growth of payment stablecoins while making clear that firms operating in this market will be expected to manage illicit finance risk to the same standard as other regulated financial institutions.

FinCEN has proposed a sweeping rewrite of anti-money laundering and countering the financing of terrorism programme requirements that could materially reshape how financial institutions design, evidence and defend their compliance frameworks. Announced on 7 April 2026, the proposal is positioned as a fundamental reform of Bank Secrecy Act AML/CFT expectations, with Treasury arguing that firms should be judged less on process-heavy documentation and more on whether their contr

The US Department of Justice has moved to remove any ambiguity around where companies should report potential criminal breaches of national security laws, making clear that voluntary self-disclosures should be sent directly to the National Security Division. The update, published on 30 March 2026, links national security enforcement more tightly to the Department-wide Corporate Enforcement Policy introduced earlier this month and gives businesses a clearer route to seek coope

FinCEN’s proposed whistleblower rule is a meaningful regulatory development rather than a routine press announcement. Although the statutory framework has been in place since the Anti-Money Laundering Act 2020 and the 2022 improvement legislation, the new Notice of Proposed Rulemaking is the step that begins to turn those powers into a functioning award and protection regime with defined procedures, eligibility rules and adjudication mechanics. The proposal was published in t

FinCEN has sharpened its focus on health care fraud with a new Advisory warning financial institutions about increasingly sophisticated schemes targeting Medicare, Medicaid and other government health care benefit programmes. Released on 30 March 2026, the Treasury measure frames health care fraud not simply as a billing abuse issue, but as a money laundering and national security concern involving organised crime groups and transnational criminal organisations. The Advisory

The Payment Systems Regulator (PSR) has set out an ambitious agenda for 2026/27, with card fees, APP fraud and wider payments reform at the centre of its annual plan. Published on 26 March 2026, the programme signals a regulator intent on pushing ahead where competition remains weak, while maintaining strong consumer protections and supporting the next phase of innovation in UK payments. A major priority is card fees, where the PSR plans to press on with action over both cros

The Office of Financial Sanctions Implementation (OFSI) has updated its guidance on assessing “reasonableness” in sanctions licence applications, introducing more prescriptive evidential requirements and higher expectations for applicants across all UK financial sanctions regimes. The most significant development is the introduction of mandatory independent Costs Draftsperson’s Reports (CDPRs) for high-value legal fees. Where legal costs exceed £2,000,000 for law firms or £1,

The Office of Financial Sanctions Implementation (OFSI) has updated its approach to assessing the “reasonableness” of costs submitted in sanctions licence applications, introducing new evidential expectations for high value legal fees and complex maintenance claims. The updated guidance, published on 13 March 2026, applies across all UK financial sanctions regimes and builds on OFSI’s original 2021 framework for evaluating licence applications. The update focuses primarily on

The UK government has introduced improvements to the statutory guidance covering UK sanctions regimes, with changes designed to make the material clearer and easier for users to navigate. The updates focus on structure, wording and accessibility rather than policy changes, meaning firms do not need to take any action. The revised guidance reorganises key sections to improve readability and usability. Authorities emphasised that the updates do not change the meaning of the exi

The Financial Crimes Enforcement Network (FinCEN) has imposed an $80m civil money penalty on broker-dealer Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA), marking the largest enforcement action ever taken against a broker-dealer under the anti-money laundering (AML) framework. According to the U.S Department of the Treasury, Canaccord failed to implement and maintain an effective AML programme, conduct appropriate customer due diligence (CDD), and