Europe Reg Desk

Monday, 2026-09-21 · covering the last 72h

EU & ESMA

No material ESMA, European Commission (DG FISMA) or EBA items, and no new ECB rulemaking (SSM, TARGET2/T2S, collateral or macroprudential), in the window.

United Kingdom

FCA requires inside-information declarations on new listing submissions. From today, every first submission of an equity document through the FCA's ESS portal (including guidance requests) must carry a declaration stating whether it contains inside information and, if so, what it is, so the FCA can apply the right handling controls up front rather than afterwards. Announced in Primary Market Bulletin 65 (28 August); the requirement itself takes effect 21 September. Primary Market Bulletin 65

No other material FCA or Bank of England/PRA rulemaking items in the window.

National & exchanges

Euronext's new pan-European settlement model goes live. From today, Euronext Amsterdam, Brussels and Paris default equity and euro-denominated ETP settlement to Euronext Securities as CSD — the first time a single CSD spans multiple Euronext markets — after France's AMF, the Dutch AFM and Belgium's FSMA told Euronext to drop conditions they found inconsistent with fair CSD access. Participants keep the option to route to Clearstream Europe or the four Euroclear CSDs (Bank, Belgium, France, Nederland) as alternatives. Euronext notice

Spain's CNMV consultation on mandatory delisting for illiquid equities (opened 18 September, comments due 19 October) is unchanged this window. No other material items from BaFin/Deutsche Börse, Consob/Borsa Italiana, AFM, SIX or Nasdaq Nordic. None of the SNB, Riksbank, Norges Bank or Danmarks Nationalbank issued rule-relevant items.

Informational only — summaries of public regulatory and central bank sources; not advice.