Global Trustee and Fiduciary Services Bite-Sized Issue 7 2026

6 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 While only 10% of the reported incidents were related to cybersecurity, ESMA says it is key that financial entities uphold to the highest cybersecurity standards to be able to keep pace with the potential use of highly capable AI-driven tools. ESMA says that these findings illustrate the growing systemic dimension of ICT risk as well as the importance of resilience and supervision in strengthening the financial sector’s ability to prevent, absorb and recover from future incidents. Link to ESMA Press Release here Link to First Annual Overview here IOSCO IOSCO Publishes Report on Supervisory Technology On 18 June 2026, the International Organization of Securities Commissions (IOSCO) published ‘SupTech: Mapping the Use of Technology in Financial Supervision’. IOSCO says that authorities are increasingly seeking to integrate SupTech into core supervisory functions. It says that artificial intelligence, data access, and cloud infrastructure are seen as critical enablers, with efficiency, timeliness of information reception and analysis, and improved capabilities driving adoption. IOSCO states that consumer and investor protection, along with capital markets supervision, are currently the most developed areas of SupTech application, but interest is shifting toward new domains such as digital assets. IOSCO says that the report also highlights the need for more structured long-termworkforce planning to complement the integration of SupTech tools and that external hiring is currently prioritised over internal capability building, and upskilling efforts rely heavily on online and ad hoc training. Link to Report here MONEY MARKET FUNDS Jurisdictions Consult on Guidance on Money Market Fund Liquid Asset Levels On 8 June 2026, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) and the Central Bank of Ireland (Central Bank) each published Consultation Papers on ‘Guidance on Money Market Fund Weekly Liquid Asset Levels’ (the Consultation Papers). On 11 May 2026, the European Commission (the Commission) published a report to the European Parliament and the Council on the adequacy of the Money Market Funds Regulation (MMFR) from a prudential and economic point of view and related frequently asked questions on the interpretation and implementation of certain legal provisions of the MMFR (the 2026 MMF report) . Following the publication of the 2026 MMF report, and in close coordination with the Commission, the CSSF and Central Bank are consulting on national guidance for enhanced MMF liquidity risk management practices based on the Commission-suggested market resilience levels, supported by increased supervisory scrutiny and engagement where MMFs fall below the market resilience levels of liquidity. The CSSF and Central Bank are now seeking feedback from stakeholders on its proposals. The Consultation Papers contains the following: • The guidance on Money Market Fund WLA levels; and • The questions addressed to the industry on the proposed guidance. The CSSF and Central Bank invite all stakeholders to provide responses to the consultation questions by 3 August 2026 . Link to CSSF Consultation Paper here Link to Central Bank Consultation Paper here