Europe Reg Desk

Monday, 2026-09-07 · covering the last 72h

EU & ESMA

EU adopts binding code of conduct for issuer-sponsored research under MiFID II. Commission Delegated Regulation (EU) 2026/1092, supplementing MiFID II with regulatory technical standards for an EU code of conduct for issuer-sponsored research, was published in the Official Journal on 4 September and entered into force on 7 September. It sets independence, objectivity and conflict-of-interest standards for research providers under the Listing Act's research-unbundling amendments, and bars issuer-sponsored research from containing buy/sell recommendations or target prices; investment firms remain separately bound by their existing MiFID II research-related obligations. Delegated Regulation

No other material ESMA, European Commission DG FISMA or EBA items in the window. No update on the EU/UK T+1 transition (Oct 2027), the wider MiFIR review/consolidated tape rollout, or CSDR refits; no new equity-relevant SSM item from the ECB.

United Kingdom

No material FCA or Bank of England/PRA items in the window. The BoE's CCP Resolution Execution and Resolvability Outcomes discussion paper remains where the last edition left it — consultation closed 4 September with no outcome yet; the Bank's own stated next step is a consultation paper on proposed resolvability expectations, expected by end-2026.

National & exchanges

No material items from BaFin/Deutsche Börse, AMF/Euronext, Consob/Borsa Italiana, CNMV/BME, AFM, SIX or Nasdaq Nordic in the window. 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.