Global Trustee and Fiduciary Services Bite-Sized Issue 4 2026

14 QUICK LINKS CMU CONDUCT CRYPTO ASSETS EMIR FINTECH FUND LIQUIDITY IOSCO OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 4 | 2026 The input received will be used to shape the forthcoming revision of the criteria by the Commission, which is planned for adoption by the summer. The feedback period was open until 14 April 2026. Link to the Consultations here The IFRS Foundation Monitoring Board Highlights the Importance of Robust Governance and Sustainable Funding Amid the Foundation’s Transformation On 16 March 2026, the IFRS Foundation Monitoring Board (Monitoring Board) published details of its meeting in London, held on 4 and 5 March. At the meting the Monitoring Board discussed the activities of the Trustees of the IFRS Foundation (Trustees), including the Trustees’ oversight responsibilities with respect to the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The Monitoring Board also held a joint meeting with the members of the Trustees under the leadership of Erkki Liikanen, Chair of the Trustees, as well as Andreas Barckow, Chair of the IASB, and Emmanuel Faber, Chair of the ISSB. At the meeting the Monitoring Board reaffirmed its commitment to ensuring the quality and independence of the IFRS Foundation (Foundation)’s standard-setting activities at a time when the Foundation continues to implement its multi‑year transformation programme, as well as the need to maintain proper balance in geographical representation and skillsets among board members and staff. The Monitoring Board also underscored the importance of a stable and broad- based funding model. Members also discussed potential approaches to enhancing the governance and oversight model of the IFRS Foundation and certain other elements of the financial reporting ecosystem, and will continue that discussion at future meetings. Additionally, recognizing the importance of sound governance, the Monitoring Board welcomed progress toward finalising the revised Due Process Handbook. This initiative is expected to reinforce the due process requirements applicable to both standard-setting boards. The Monitoring Board will continue to monitor the Trustees’ oversight to ensure that the boards adhere to rigorous due process and maintain robust governance standards. The Monitoring Board took note of the IFRS Foundation’s recent standard-setting activities, and reaffirmed the importance of having proper strategic priorities and communicating with key stakeholders on standard setting activities. The Monitoring Board also discussed the Foundation’s multi-location model, emphasising the importance of ensuring operational efficiency and alignment with the Foundation’s strategic priorities. Link to the Statement by the Monitoring Board here MAS Sets Supervisory Expectations on Financial Institutions for Transition Planning Practices in Addressing Environmental Risk On 5 March 2026, the Monetary Authority of Singapore (MAS) issued three Guidelines on Environmental Risk Management – Transition Planning (Guidelines) to separately set out MAS’ supervisory expectations for banks, insurers and asset managers (collectively, FIs) to manage the transition and physical risks they and their portfolios face from climate change. The Guidelines are an addendum to the Guidelines on Environmental Risk Management issued in 2020. The MAS said the Guidelines support FIs in building effective risk assessment and risk management capabilities for better resilience against climate-related risks. The MAS said FIs should establish a transition planning process in a risk proportionate manner, taking into consideration various factors, such as the risk profile of their business models and the local circumstances of their business operations. In particular, MAS said it expects FIs to: a. Assess and manage the risks associated with both physical and transition risks arising from climate change by adapting their business models, governance and risk management practices in a forward-looking manner; b. Engage their customers and investee companies to better understand the climate-related risks they face and their management of such risks, so as to avoid the indiscriminate withdrawal of credit, insurance coverage, or investments, and support broader financial stability. In doing so, FIs should consider the risk materiality of their customers and investee companies when collecting data; and