Global Trustee and Fiduciary Services Bite-Sized Issue 9 2026

8 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 T+1 FCA Blog: T+1 Settlement: Are Firms Ready for 2027? On 13 August 2026, the Financial Conduct Authority (FCA) published a blog post on its website by Jamie Bell, Infrastructure and Exchanges – Capital Markets, FCA, explaining why T+1 matters and what the FCA have been doing so far. To prepare, Mr Bell says that market participants will have to rapidly speed up their post-trade processes, including automating their operations as appropriate. He explains that the FCA have found that some are more ready than others – and some have a lot to do to meet deadlines, and the FCA’s expectations. Mr Bell says that the FCA’s work on the T+1 transition is helping support growth in the UK financial market. The FCA is testing how ready market participants are for the transition, and where implementation challenges and bottlenecks remain. This forms part of the FCA’s approach for T+1, which it set out last year, alongside an active communications strategy and market monitoring. Mr Bell explains that the FCA have been speaking to participants across the market, including: • Buy-side and sell-side firms; • Financial market infrastructures; • Third-party service providers; and • Trade associations. He adds that the blog sets out the FCA’s reflections from that engagement. This includes: • Where the FCA expect firms to be with 1 year to go; • What the FCA’s market engagement tells it about readiness; • Buy-side readiness: cause for concern? • Progress on 2026 recommendations: trade date allocations and confirmations, and standard settlement instructions; • Client engagement and outsourcing; • Third-party providers: share your T+1 plans now; • Settlement failures and reasons behind them; and • Fund settlement cycle. What next? As the October 2027 live date moves closer, Mr Bell says in the blog that the FCA will take an increasingly intrusive approach to its supervision and that the FCA expects participants to demonstrate with clear evidence how they are: • Implementing the systems and process changes in their project plans; and • Considering their testing strategies. Link to FCA Blog here