Europe Reg Desk

Thursday, 2026-11-05 · covering the last 24h

EU & ESMA

ESMA, the European Commission and the ECB's rulemaking side stayed quiet again this window — no new consultation, guideline or statement.

United Kingdom

FCA finalises the UK's first regulatory regime for ESG rating providers. Policy Statement PS26/22, published 3 November, brings ESG rating providers into UK financial regulation for the first time, following legislation enacted last October. Providers can apply for FCA authorisation from 24 June 2027; once the full regime takes effect on 29 June 2028, unauthorised ESG-rating activity in the UK is prohibited. The rules govern how ratings are produced, governed and communicated — conflicts of interest, governance, complaints-handling — without prescribing methodologies or outcomes. FCA press release

No November edition of the Bank of England's PRA Regulatory Digest has appeared yet; September's remains the newest.

National & exchanges

Frankfurt, Paris, Milan, Madrid and the Nordics all stayed quiet, with nothing fresh from Euronext, Deutsche Börse or SIX. No rule changes from the SNB, Riksbank, Norges Bank or Danmarks Nationalbank either.

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