Regulatory Flood: UK and Global Regulators Issue Wave of New Rules in July
July 2026 saw a flurry of activity from financial regulators in the UK and globally. The Financial Conduct Authority (FCA) published several key documents, including Handbook Notice 143, which outlined changes to its regulatory handbook. The FCA also released findings on firms' approaches to monitoring outcomes under the Consumer Duty.
The Bank of England Governor Andrew Bailey addressed how well-designed regulation can support sustainable economic growth in a speech on July 15th. He touched on topics such as bank capital, payments, tokenisation, and AI risks and opportunities. Meanwhile, HM Treasury published an update on its Financial Services Growth and Competitiveness Strategy.
The UK government also showed commitment to embedding artificial intelligence across the financial services sector with a plan developed by the Financial Services AI Champions. On banking reform, HM Treasury published consultation papers on modernising payment services regulation and reforming the ring-fencing regime for banks.