FinTech Global FS Regulatory Round-up - w/e 19 June 2026

Global

IOSCO report: Mapping the use of technology in financial supervision

The International Organisation of Securities Commissions (IOSCO) has published a report on the findings of its survey on the current and expected future use of supervisory technology (SupTech) tools for supervision and regulatory oversight. The report is intended to support authorities in identifying priorities, tracking progress and shaping their own approach to SupTech development.  [18 Jun 2026] #SupTech

FSI/IAIS paper: Cyber insurance unpacked – the corporate digital safety net

The International Association of Insurance Supervisors (IAIS) and the Financial Stability Institute (FSI) at the Bank for International Settlements (BIS) have published a paper on the evolving cyber insurance landscape. In particular, it examines cyber insurance product coverage, pricing and underwriting practices, and explores the protection gap. The paper also highlights key considerations for supporting the sound and sustainable development of cyber insurance markets.

The views expressed in the publication are those of the authors and do not necessarily reflect the views of the BIS, its member central banks or the Basel-based standard-setting bodies.  [17 Jun 2026] #Cyber

UK

HM Treasury: Terms of reference for Wholesale Digital Markets Champion

HM Treasury has published the terms of reference (ToR) for the Wholesale Digital Markets Champion, outlining how the Champion will lead industry efforts to drive the adoption of digital technologies across UK wholesale financial markets.

Under the ToR, the Champion will coordinate the sector’s wider digital implementation as outlined in the Wholesale Financial Markets Digital Strategy, which was published in July 2025 as part of the Leeds Reforms. The Strategy sets out immediate measures to improve UK markets by replacing outdated processes, alongside medium- and longer-term actions to unlock the benefits of emerging technologies, particularly tokenisation using distributed ledger technology (DLT).

The Champion will:

• establish a cross-industry taskforce, bringing together representatives from across the market ecosystem, to provide input and support;
• deliver a report to the Chancellor on how UK wholesale markets can best adopt tokenisation and other related technologies, as well as how the sector and HM Government can ensure DLT interoperability;
• promote the delivery of the Strategy across the sector; and
• coordinate with the Chairs of the other workstreams as they implement their programmes to deliver T+1 and remove paper shares.

The Champion will provide an initial forward look, including plans to establish the industry taskforce, by July 2026. A full report on DLT adoption and interoperability will be submitted to the Chancellor by July 2027.  [17 Jun 2026]  #Tokenisation #DLT

Europe

EBA Spring 2026 risk assessment

The European Banking Authority (EBA) has published its Spring 2026 Risk Assessment Report (RAR), Q1 2026 Risk Dashboard (RDB) and Spring 2026 Risk Assessment Questionnaire (RAQ) results. The publication is intended as a comprehensive package of risk monitoring outputs for the EU/EEA banking sector.

Among other findings, the EBA notes that banks face a challenging and rapidly evolving risk environment, with operational and cyber risks flagged as key concerns. This comes amid the growing adoption of advanced technologies, including AI, and the potential misuse of frontier AI models amplifying existing vulnerabilities and creating new attack vectors.  [19 Jun 2026] #Cyber #AI

ECB's speech: Cyber resilience and the digital euro

Frank Elderson, Member of the European Central Bank's (ECB's) Executive Board and Vice-Chair of the Supervisory Board, participated in a wide-ranging fireside chat at the Spanish Banking Association's ‘Competitiveness for growth’ event in Madrid.

On cyber resilience, Mr Elderson warned that frontier AI models represent a structural shift in the threat landscape, enabling more sophisticated, faster and more accessible attacks, and confirmed that the ECB will issue a ‘Dear CEO’ letter to all supervised banks inviting proactive action on operational resilience. He said that banks are encouraged to treat this as a matter of strategic relevance requiring multi-year investment in people, systems and governance.

On the digital euro, Mr Elderson argued the project presents an opportunity for banks' business models rather than a threat, noting that banks will distribute the digital euro, manage customer accounts and be fairly compensated. He said that over 50 applications have been received for a planned 2027 pilot, with the outcome of the selection process to be announced in July 2026. The potential first issuance of the digital euro is targeted for 2029, subject to legislation being adopted in 2026.  [19 Jun 20026]  #AI #CBDC #DigitalEuro

EFIF: Summary of February 2026 meeting – embedded finance, agentic AI and BigTech oversight

The European Forum for Innovation Facilitators (EFIF) has published a summary of conclusions from its February 2026 meeting, which was chaired by the European Banking Authority (EBA). Topics discussed include: developments in innovation facilitators, a proposed BigTech workstream for 2026, embedded finance and agentic AI.  

The EFIF provides a forum for EU financial supervisors to meet regularly and share insights from their engagement with firms.  [18 Jun 2026]  #BigTech #AI

ESMA Chair sets out priorities for European asset management

ESMA has published a speech by its Chair Verena Ross at the European Fund and Asset Management Association’s (EFAMA's) Annual General Meeting. In her address, Ms Ross discussed four strategic priorities for the European asset management sector as part of a broader push to strengthen EU capital markets. These include:

• Innovation – the Chair set out ESMA's evidence-based approach to distributed ledger technology (DLT) and fund tokenisation, and noted the agency’s engagement with national competent authorities (NCAs) to assess regulatory barriers under the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Alternative Investment Fund Managers Directive (AIFMD) regimes. She underscored the importance of legal certainty and interoperability, warning that fragmented national approaches could limit cross-border scalability.
• Market resilience – Ms Ross assessed the current financial stability environment, highlighting key risks including stretched valuations, hedge fund leverage in government bond markets, the growth of private credit, and AI-related market disruption.  [16 Jun 2026] #DLT #AI

EBA: Annual report 2025 – part 1                    

The EBA has published its 2025 annual report, outlining its main achievements and activities in delivering on its mandates under the Work Programme. In 2025, the EBA focused on streamlining and improving the efficiency of the EU regulatory framework while expanding its supervisory role, particularly under the Digital Operational Resilience Act (DORA) and Markets in Cryptoassets Regulation (MiCAR).

A consolidated version of the 2025 annual report will be published by the end of June 2026, which will provide detailed information on the implementation of the Work Programme, as well as on the EBA’s budget, staff policy plan, management and internal control systems. [16 Jun 2026] #DigitalAsset #MiCAR #Crypto #DORA

Hong Kong

HKEX and HKMA launch pilot on use of e-HKD for derivatives after-hours margin payments

HKEX and the HKMA have announced a joint pilot project to explore a new digital payment solution for the after-hours trading (AHT) session in Hong Kong’s derivatives market. The project will examine the use of e-HKD, described as a wholesale central bank digital currency operating on a 24/7 basis, for advance margin payments in the AHT session, with a view to enhancing risk management outside regular banking hours while maintaining existing operational workflows.

The announcement notes that the pilot is intended to provide a more flexible and efficient alternative to the current arrangement, under which clearing participants must submit advance margin deposit requests to HKFE Clearing Corporation Limited by 3:00 p.m. for funds to be counted for the subsequent AHT session. HKEX is inviting HKFE Clearing participants to take part in real-value trial transactions on an optional basis.

The real-value trial transactions, and any wider adoption, remain subject to regulatory approval, market readiness and other relevant considerations.  [18 Jun 2026]  #CBDC #Payments

Insurance Authority hosts AI Cohort Symposium and adds three insurers as core participants

The Insurance Authority has announced that it hosted the AI Cohort Symposium and welcomed three insurers as new core participants of the programme, bringing the total number of core participants to 10 since August 2025.

According to the Insurance Authority, the symposium focused on insurers’ strategic plans to establish Centres of Excellence, nurture AI talent and roll out AI solutions. Representatives from Cyberport and the Hong Kong-Shenzhen Innovation and Technology Park also highlighted cross-sector collaboration opportunities, while technology companies introduced their proprietary offerings.

In the press release, Mr Stephen Yiu, Chairman of the Insurance Authority, said insurers are showing stronger ownership and governance, with greater discipline in selecting use cases that support business value and customer outcomes, and that Hong Kong’s AI and Insurtech ecosystem has continued to strengthen with more solution providers relevant to core insurance functions.  [15 Jun 2026]  #AI #InsurTech

India

RBI issues Master Directions on authorisation to operate a payment system

The Reserve Bank of India (RBI) has issued Master Directions on Authorisation to operate a Payment System, which consolidates instructions issued through following circulars/ guidelines, and comes into effect immediately:

• Computation of Net-worth dated 16 January 2015;
• Guidelines for Voluntary Surrender of Certificate of Authorisation dated 12 May 2016;
• On-tap Authorisation of Payment Systems dated 15 October 2019;
• Authorisation of entities for operating a Payment System under the PSS Act – Introduction of Cooling Period dated 4 December 2020;
• Perpetual Validity for Certificate of Authorisation (CoA) issued to Payment System Operators dated 4 December 2020;
• Investment in Entities from FATF Non-compliant Jurisdictions dated 14 June 2021; and
• Framework for Voluntary Surrender of Certificate of Authorisation dated 12 May 2023. [15 Jun 2026]  #Payments

US

CFTC issues RFI on regulations impeding fintech firms

The CFTC has issued a Request for Information (RFI) seeking to identify regulations, guidance documents, orders, no-action letters, and other items that unduly impede fintech firms from entering into partnerships with federally regulated institutions, as well as CFTC regulatory items that could be amended to streamline application processes for eligible fintech firms.

The RFI is intended to assist the CFTC in complying with its obligations under Executive Order 14405 Integrating Financial Technology Innovation Into Regulatory Frameworks which was issued by the President in May 2026.

Comments are requested within 21 days of publication in the Federal Register. [Jun 16, 2026]   #Fintech

CFTC issues no-action relief for DCMs converting digital commodity perpetual futures

The CFTC's Division of Market Oversight has issued no-action relief to designated contract markets (DCMs) seeking to convert their existing perpetual-style digital commodity futures contracts into true digital commodity perpetual futures. The letter follows recent CFTC actions clarifying the regulatory treatment of true perpetual futures contracts referencing bitcoin and other digital commodities with deep, active, and continuous spot market trading.

Under the no-action letter, DCMs may remove expiration dates from their existing contracts and implement amendments, subject to certain customer protection and procedural conditions which are set out in the letter.

DCMs must file amendments under CFTC Regulations 40.5 or 40.6 and certify compliance with all conditions. The no-action letter expires on June 30, 2026.  [Jun 12, 2026]   #DigitalAsset