GRC Report Staff

The Deutsche Bundesbank, acting for the German federal government, will increase two federal bonds (2047 and 2056 maturities) through a multi-ISIN auction on September 23, 2026, targeting a combined EUR $2 Billion market maintenance quota. The notice is operational rather than a new regulatory obligation, but it matters to compliance teams at Federal Bidding Group member institutions, which must meet the bid submission rules, cutoffs, and settlement timeline.

At its second Proportionality Conference, BaFin said that simplified supervisory rules for less significant institutions (LSIs) give banks more freedom, but that freedom depends on responsible use. BaFin ties its push for a small bank regime in Europe to LSIs avoiding unnecessary restructuring and showing sound risk judgment. Compliance teams should expect a more principles-based, trust-driven supervisory dialogue in which citing legal provisions alone will not be enough.

The September 17, 2026 OSC Bulletin publishes Staff Notice 81-741 (the Investment Management Division Annual Summary Report), approval of an extension to the coordinated blanket order on repurchase transaction exemptions for investment funds, and a related CSA request for comment on proposed National Instrument 81-102 amendments. Investment fund managers and registrants should review these items for supervisory priorities, relief expiry and comment opportunities. The issue also carries Tribunal scheduling orders and several decisions that are mostly procedural.

An FCA review found no evidence that its regulation is a major barrier to SME access to finance. It identified market, information, and capability challenges instead, especially for microbusinesses. The FCA will focus on Consumer Credit Act reform, open finance (with SME lending prioritized), and monitoring digital verification, so firms in SME lending and customer due diligence should prepare for upcoming consultations.

The Bank of England has announced a long-term framework under which sterling banknotes will be backed primarily by gilts held directly on the Issue Department balance sheet, supplemented by a small Issue Deposit. The change follows the MPC's September 2026 decision to set a multi-year path for fully unwinding the Asset Purchase Facility. It is explanatory guidance rather than a new rule for firms, but compliance teams should assess its indirect effects on gilt markets, collateral availability, and reserves supply.

BaFin has issued a public warning that the operators of roipax(.)de are offering banking and/or financial services in Germany without the required authorization and are not supervised by BaFin. Compliance teams should treat this as an actionable fraud and sanctions-screening signal, since the domain may appear in customer transactions, payment flows, or onboarding activity.

The FCA published good and poor practice findings from its review of payments and e-money firms' support for consumers in vulnerable circumstances under the Consumer Duty. No new rules are introduced, but the FCA expects firms to evidence that they understand customer needs, provide appropriate support, and deliver good outcomes, and it warns of supervisory intervention where expectations are not met. Compliance teams should use the findings to benchmark and close gaps now.