Global Trustee and Fiduciary Services Bite-Sized Issue 9 2026

2 AI CRYPTOASSETS EMIR FINTECH FUND LIQUIDITY OPERATIONAL RESILIENCE RETAIL INVESTMENT STRATEGY T+1 ASIA PACIFIC AUSTRALIA EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 9 | 2026 Quick Links Moreover, building on the “A.I. vs. A.I.” theme in previous GenA.I. Sandbox cohort, the SFC says that the latest pilots will further examine how A.I. can provide dynamic oversight of the actions taken by other A.I. applications. The SFC states that participants will be onboarded to the designated platformmanaged by Cyberport’s Artificial Intelligence Supercomputing Centre, with technical trials commencing later this year. Link to SFC Press Release here Link to Details on the GenA.I. Sandbox++ (dated 5March 2026) here ASIC and APRAWarn Frontier AI Awareness Must Turn to Action In a joint publication titled “Resilience at Frontier AI Speed” published on 27 August 2026, the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) urged financial market entities to move from gaining awareness of risks linked to frontier artificial intelligence (AI) to taking decisive action. The publication says that both ASIC and APRA have warned publicly in recent months that frontier AI is increasing the speed, scale and sophistication of cyber threats to the financial systemwhile also accelerating technology and operational risks. Building on those messages, the regulators hosted nine roundtables in June and July involving more than 600 attendees from across the financial system. The roundtables were supported by the Australian Signals Directorate and included participation from the Reserve Bank of Australia, Treasury and the Australian Competition and Consumer Commission, signalling a whole-of-government response to this urgent threat. The publication says that the key themes to emerge from the roundtables included: • The importance of getting the cyber fundamentals right, including identifying andmanaging critical assets and systems, timely patching, strong identity and access controls, attack surface reduction, backup integrity, tested response and recovery arrangements, and third-party riskmanagement; • The need to consider key decisions such as risk appetite, escalation authority, recovery priorities and communication strategies at board level before a crisis hits, given that frontier AI compresses incident response timeframes; • A growing interest in defensive AI, including for threat intelligence, vulnerability detection, code review and incident response, however it was also acknowledged that capability remains limited; • Common dependency and concentration risk associated with third-party service providers can turn isolated individual incidents into much broader sector-wide disruption; and • The importance of actively contributing to industry-led collaboration, including sector-wide threat intelligence sharing, dependency mapping, supplier assurance and sector incident coordination. Link to Resilience at Frontier AI Speed here CRYPTOASSETS SEC Proposes New Regulation Crypto Assets On 18 August 2026, the Securities and Exchange Commission (SEC) announced proposed new rules, titled “Regulation Crypto Assets,” that would create a clear and fit-for-purpose framework for certain investment contracts involving crypto assets. This proposal follows the SEC’s March 2026 interpretation clarifying how the federal securities laws apply to certain crypto assets and transactions involving crypto assets. TheSECsays that the proposed rules include two exemptions fromthe registration requirements of the SecuritiesAct of 1933 specifically tailored to certain investment contracts involving cryptoassets. The first is aone-time exemption thatwouldpermit offerings of up toUSD5millionduring a four-year period. The secondexemptionwouldpermit offerings of up toUSD75millionduring each 12-monthperiod. Under both exemptions, theSECsays that issuerswouldbe required tomake certainprinciples-based narrativedisclosures available to their investors. Inaddition, issuers under the second exemptionwould be required toprovide financial statements andbe subject toongoing reporting requirements.