Global Trustee and Fiduciary Services Bite-Sized Issue 7 2026

2 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 Also, the FSB says that the sound practices are not intended to establish an international standard, to impose a prescriptive approach for responsible AI adoption by financial institutions, nor to influence business decisions in adopting a certain AI technology. They are also not developed to address recent risks that have emerged related to frontier AI models, although some sound practices would help financial institutions respond to such risks. The FSB is inviting comments on this consultation report and the questions set out within it. Responses should be submitted by 22 July 2026 . The final report will be published in October 2026 . On 7 July 2026 , the FSB also held a virtual event as part of the consultation process, explaining that the event aimed to inform stakeholders about the consultation and to gather preliminary perspectives on the topics covered in the consultation report. Link to Consultation Report here CRYPTOASSETS FCA Sets Crypto Rules Aimed at Cementing the UK’s Place as a Global Hub On 30 June 2026, the Financial Conduct Authority (FCA) published five policy statements and final rules, which aim to deliver a significant package as part of the FCA’s Cryptoasset Roadmap and a comprehensive regime that, it says, puts the UK at the forefront of responsible cryptoasset regulation. Legislation in February 2026 brought cryptoassets into the FCA’s remit, which the FCA says marks one of the most significant expansions of its oversight in years. The FCA explains that amongst the new requirements: • All firms must meet financial resilience requirements including capital and stress testing; • The FCA is introducing newmarket integrity rules covering areas such as insider trading and market manipulation; and • The FCA sets out specific rules for stablecoins, which will be subject to clear, strong and transparent standards, helping to build trust in how they are used over time. The FCA explains that it drew upon responses to its consultations as well as international best practice, and applying established financial services standards where risks are comparable, including the Consumer Duty. Until the new rules come into effect in October 2027 , the FCA’s says that its oversight of crypto will continue to be limited to financial promotions and anti-money laundering controls. The FCA states that it is encouraging firms to prepare now andmake use of its pre-application support meetings available from July. Firms can apply for authorisation between 30September 202 6 and 28 February 2027 , so they are ready to start or continue to trade under the newmandatory regime which will come into force on 25 October 2027 . Next steps The FCA says that it will publish a further policy statement in September 2026 setting out how the regulatory perimeter applies to cryptoasset activities. The FCA also says that later this year, it will consult on decentralised finance (DeFi) guidance and separately on operational resilience guidance for firms using distributed ledger technology (DLT). It will also consult on updates to the Financial Crime Guide relevant to cryptoasset firms. Finally, on the same day, the Bank of England and the FCA published a joint approach setting out how they, and where relevant other authorities, will work together to regulate systemic stablecoin issuers in the UK. It explains how responsibilities will be split between the authorities, and howUK stablecoin issuers may move fromFCA supervision to joint regulation once recognised as systemic by HMTreasury.