Global Trustee and Fiduciary Services Bite-Sized Issue 10 2026

13 AIFMD CRYPTOASSETS FINTECH FUND LIQUIDITY OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ ESG T+1 ASIA PACIFIC EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 10 | 2026 Quick Links • Accelerating regional transition : Leveraging Hong Kong’s position as an international financial centre, Phase 2B scales financing towards climate change mitigation activities that are critical for accelerating regional decarbonisation. Phase 2B adds key enabling technologies that can support the development of other decarbonisation applications, such as the manufacture and recycling of batteries, and the manufacture of low-carbon technologies. It also provides practical transition pathways for hard-to-abate sectors like air transport, iron and steel, so as to channel capital towards supporting their progressive decarbonisation. • Enhancing climate change adaptation methodology : Given the highly location-specific nature of climate change adaptation, measures required to address the same climate risk may vary depending on actual circumstances and environmental factors. Phase 2B therefore introduces a process-based approach, providing the market with clear guidance through a systematic framework to ensure that relevant measures make a substantial contribution to climate change adaptation and appropriately manage maladaptation risks. With reference to guidelines by the Hong Kong Special Administrative Region Government, Phase 2B introduces 24 adaptation measures (including 11 whitelist measures and 13 non-whitelist measures). The initial focus is on shoreline protection and flood management, which are closely related to the key climate risks faced by Hong Kong. The public consultation period closed on 7 October 2026 . Link to the Consultation Paper here Link to InSight here T+1 UK Accelerated Settlement Taskforce’s Risk and Compliance Workstream Launches T+1 Implementation Toolkit On 25 September 2026, the UK Accelerated Settlement Taskforce’s Risk and Compliance Workstream (the Taskforce) launched its T+1 Implementation Toolkit. Resources in the Toolkit include: • Scorecard : A flexible template to help firms measure progress towards the new operational deadlines and understand the causes of missed targets. • Readiness Checklist : Considerations for each phase of the T+1 implementation lifecycle, including steps firms may need to revisit from earlier stages of their preparations. • Full List : Practical control expectations covering the Code of Conduct’s ‘critical’ and ‘highly recommended’ recommendations. • Procedures : Guidance across six areas where firms may want to update or introduce procedures for operating in a T+1 environment. The Taskforce says it has designed the toolkit to be flexible, enabling firms to adapt the resources to their own business models and risk frameworks on a voluntary basis. The Taskforce encourages firms to use the Toolkit to assess where they are in their preparations for the 11 October 2027 transition and use the elements that can best support their move to T+1. The Taskforce says the Toolkit is designed to provide practical guidance and flexible resources that firms can tailor to their own business needs, risks and operating models. Organisations remain responsible for determining what is appropriate for their circumstances. Link to the Implementation Toolkit here