RPIB opens consultation on next-generation UK retail payments infrastructure
The Retail Payments Infrastructure Board wants industry views on the future design of the UK's core retail payment rails. Responses are due 11 September 2026.
Eleanor Vance
Pensions
CP26/20: FCA consults on SIPP due diligence and asset protection rules, closing 24 August 2026
Action required for SIPP operators. The FCA has published CP26/20, proposing new due diligence and asset protection rules for a market holding 567bn across 5.3 million consumers.
Bank of England rules out early clearing mandate for gilt repo but flags policy proposals by early 2027
The Bank of England has published its feedback on last year's gilt repo resilience discussion paper. No immediate requirements follow, but firms active in repo markets should note that formal policy proposals are coming.
Consultations
PS26/8: FCA converts R2B2 data collection into standing annual return
PS26/8 formalises the Retail Banking Business Models (R2B2) data collection as a permanent annual regulatory return. The Supervision Manual (Amendment) Instrument 2026 came into force on 1 June 2026; the first submission is due by the end of November.
Consultations
FCA proposes to remove product-level TCFD reports for asset managers and insurers, targeting £20m in annual savings (CP26/17)
The FCA published CP26/17 on 5 June 2026, proposing to remove mandatory product-level TCFD reporting for asset managers, life insurers and FCA-regulated pension providers and replace it with a narrower set of targeted obligations split by client type. Firms in scope must respond by 13 July 2026.
Payments
FCA publishes KPMG assessment of future open banking standards body and calls on industry to move promptly on next steps
The FCA has released an independent KPMG report on proposals to establish a permanent open banking standards-setting body, telling industry it expects prompt decisions on next steps. A second KPMG report on operationalisation follows in the coming weeks.
Bank of England consults on phased RTGS and CHAPS extension to near 24x7, with Sunday settlement no earlier than 2029
The Bank of England has set out a phased roadmap to extend RTGS and CHAPS settlement hours towards near-continuous operation. Payment firms, banks, and any firm relying on same-day sterling settlement face operational and liquidity management implications. The response deadline is 10 August 2026.
Consultations
CP26/18: FCA consults on mortgage rule changes across six areas, responses due 28 July 2026
The FCA published CP26/18 on 9 June 2026, proposing targeted changes to responsible lending rules across six areas of the mortgage market. Mortgage lenders, administrators, home purchase providers, and intermediaries are in scope; responses are due by 28 July 2026.