Global Trustee and Fiduciary Services Bite-Sized Issue 2 2026

12 QUICK LINKS AIFMD BENCHMARKS REGULATION CRYPTOASSETS FINTECH FUND LIQUIDITY MIFID II/MIFIR MONEY MARKET FUNDS OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2026 T+1 Investment Association Sets Out Roadmap for Transition to T+1 On 26 January 2026, the Investment Association (IA) published its T+1 Settlement: Navigating the UK, EU and Swiss Transition report, produced in collaboration with Alpha FMC, the Asset and Wealth Management Consultancy. Aimed at asset managers, wealth managers, fund administrators and custodians, The IA says the document provides a roadmap for the transition of the UK and European Union securities markets from a trade-date-plus-two (T+2) to a trade-date-plus-one (T+1) settlement cycle, currently targeted for 11 October 2027. The IA says the paper aims to build understanding of the challenges of the transition to support planning across the fragmented European market, and complements existing regulatory documentation, such as the UK Accelerated Settlement Taskforce (AST) guidelines, by focusing specifically on the downstream impacts to fund and cash operations. Key recommendations from the IA’s report are: • Act now and ensure that project plans, governance and budgets are in place; • Accelerate automation across the post trade lifecycle; • Review and strengthen FX operating models; • Prepare to move fund settlement cycles to T+2 by 11 October 2027; and • Ensure the accuracy and completeness of Standard Settlement Instructions. Link to the Report here UK Accelerated Settlement Taskforce Quarterly Review – Q4 2025 On 23 January 2026, the T+1 Accelerated Settlement Taskforce (AST) published its final Quarterly Review for 2025. The Review includes a summary covering the achievements of the AST and the Market, including: • Status of the AST’s recommendations; • Readiness of participants; • Readiness of financial market intermediaries; • Readiness of corporate actions • Settlement performance; • Support from public authorities; • Concerns; • 2026 look forward; and • Coming initiatives. Link to the Q4 Quarterly Review here