Global Trustee and Fiduciary Services Bite-Sized Issue 7 2026

15 AI CRYPTOASSETS CYBER DORA IOSCO MONEY MARKET FUNDS SUSTAINABLE FINANCE/ESG ASIA PACIFIC AUSTRALIA EUROPE IRELAND LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 7 | 2026 Quick Links ESMA says it has also identified a short list of reports whose marginal added value would be limited due to lack of new available data or because of interaction with the MISP package (see Table B of Annex I of its Letter). ESMA explains that the resources freed up frompostponing and deprioritising the deliverables listed in Annex I will be diverted towards delivering on the highest priority workstreams for ESMA in 2026. Link to Letter here IRELAND Central Bank Launches Consultation on Evolving Regulation On 22 June 2026, the Central Bank of Ireland (Central Bank) launched a public consultation seeking views on its approach to Regulatory Impact Assessment (RIA) and on its approach to consultation with stakeholders. The Central Bank says that the consultation forms part of its ongoing work to deliver a more effective and efficient regulatory framework, building on its recent new supervisory approach and roadmap of regulatory initiatives. The Central Banks says that it reflects its commitment to ensuring that regulation remains clear, coherent and proportionate, while continuing to support the protections and resilience on which the financial system depends. In terms of scope, the Central Bank outlines that the public consultation seeks views on two related elements of its regulatory process: 1. It presents a draft Statement of Approach to RIA. This element of the Consultation Paper sets out how the Central Bank proposes to assess regulatory interventions, including identifying problems, considering options and evaluating potential impacts; and 2. It outlines a proposed updated approach to public consultation. The Central Bank explains that this reflects current practices and emerging thinking on how consultation can most effectively support policy development. The Central Bank says that feedback on this section will inform an update of its consultation policy to be published in due course. Finally, the Central Bank states that its public consultation does not introduce new regulatory requirements or amend existing rules. It focuses on the frameworks and processes that support regulatory policy development and communication. The deadline for submissions is 30 September 2026 . Link to Consultation here LUXEMBOURG CSSFFeedbackReport –ThematicReview–ValuationFramework for Less Liquidand IlliquidAssets On 4 June 2026, the Commission de Surveillance du Secteur Financier (CSSF) published ‘Communication on the CSSF Feedback Report – Thematic Review – Valuation Framework for Less Liquid and Illiquid Assets’. In its press release the CSSF says that over the past years, against the backdrop of successive crisis episodes, the global geopolitical and economic environment and the substantial increase of assets under management of AIFs investing in less liquid/illiquid assets, the CSSF has intensified its focus and scrutiny on valuation risks within the asset management sector. The CSSF states that it has carried out significant supervisory work, both off-site and on-site (e.g. CSSF Feedback Report on the CSA, CSSF Feedback Report – Self-assessment questionnaire, separate report and management letter for funds, CSSF Annual Report 2024 sharing feedback from on-site controls).