Global Trustee and Fiduciary Services Bite-Sized Issue 6 2026

13 AIFMD CRYPTOASSETS FINTECH FSB IOSCO MIFID II/MIFIR MONEY MARKET FUNDS OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 6 | 2026 Quick LInks The FCA says it is also exploring how its regulatory framework can better support small and medium-sized enterprise (SME) access to finance. Link to Report here Cross-Agency Steering GroupWelcomes First Sector-based Operational Guide on Transition Finance On 15 May 2026, the Hong Kong Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) welcomed the release of Transition Finance Operational Reference Guide – Phase 1 Report: Mobilising Finance for the Transition of the Technology Sector (the Report). The Report was developed by an industry working group under the Steering Group’s transition finance workstream to drive the development of transition finance in Hong Kong. Building on the Steering Group’s strategic priorities for 2026 to 2028 to scale up transition finance with practical guidance, the Steering Group says the Report aims to provide a useful toolkit for financial institutions and corporates to operationalise global frameworks and principles in this respect, and promotes good practices through a sector-based approach. The Steering Group says it has selected information and communications technology (ICT) as a pilot sector to develop the operational guidance. The first-phase Report focuses on entity-level financing and investment, exploring how financial institutions can support a company’s overall climate transition strategy through general corporate‑purpose financing. The Steering Group Report highlights commonalities across recognised international frameworks and identifies a core set of entity‑level transition‑related information and metrics that are material and relevant to the ICT sector. This is central to how such information may be utilised by financial institutions to better understand and assess an entity’s transition strategy. The Steering Group says the Report also addresses market feedback on implementation challenges by setting forth case studies to illustrate how to apply international principles and guidance on transition finance in practice. The Steering Group says it will continue its efforts, with subsequent phases of its work covering activity‑level financing and investment, as well as stewardship and engagement. Link to Report here ECB Reports on Good Practices for Climate and Nature-related Risk Stress testing and Risk Management On 8 May 2026, the European Central Bank (ECB) published a report identifying good practices from the 2022 ECB climate risk stress test (CST) and subsequent follow-up activities that took place between 2023 and 2025. Aimed primarily at banks, the report aims to facilitate their efforts to strengthen their climate and nature-related risk stress-testing capabilities, in light of the supervisory expectations set out in the ECB Guide on climate-related and environmental risks. On the same day the ECB also published a report on good practices for climate and nature risk management, following a thematic review launched in 2022. During this review the ECB says it identified a set of good practices for the management of climate-related and environmental (C&N) risks. These were drawn from a range of significant institutions with different business models and sizes. The ECB says the report aims to respond to the wish expressed by institutions for detailed insights into how others have designed specific risk management processes and procedures for C&N risks and how they have addressed some of the challenges relating to C&N risks. Link to Report Risk Stress Testing here Link to Report on Risk Management here