Global Regulatory News and Updates

Bank of England CCP Resolution Paper, Malta Tokenisation Consultation, ASIC Sustainability Reporting & EU AI Act High-Risk Guidelines — Global Regulatory Briefing May 24, 2026

This week's Global Regulatory Briefing  Covers regulatory developments across the United Kingdom, European Union, Malta, Australia, United States, Spain, and Greece. * The Bank of England published a discussion paper on central counterparty resolution execution covering resolution powers, creditor hierarchy, statutory partial tear-up powers, and resolvability outcomes. CCPs must deploy recovery tools on the Bank's instruction and provide timely data to the Bank, HM Treasury, and independent valuers. * The European Commission issued draft guidelines for classifying AI systems as high-risk under the EU AI Act — stakeholder feedback open until June 23, 2026. The EU is also tracking 2030 clinical trial targets including 500 additional multinational trials via the FAST-EU initiative. * Malta's Financial Services Authority launched a public consultation on tokenisation of financial instruments and real-world assets, exploring distributed ledger technology integration, token registries, and interoperability. * In Australia, ASIC set its financial reporting, audit, and sustainability focus areas for 2026-27 including decommissioning cost disclosures and updated sustainability reporting guidance. * In the United States, Bolton Medical issued a voluntary field safety notice for the RelayPro Thoracic Stent Graft System due to device release failures including fatal outcomes.  * In California, the Department of Financial Protection and Innovation waived mortgage insurance requirements for state-chartered credit unions. * In Spain, MITECO proposed modifications to the 2021-2026 electricity transmission network plan.  * In Greece, listed companies face updated corporate governance and ESG compliance obligations. Essential listening for CCOs, general counsel, heads of financial infrastructure, digital asset compliance leads, sustainability reporting officers, and risk managers across global financial services. Carver RegWatch delivers weekly regulatory intelligence across jurisdictions. Published May 24, 2026. For more information, visit the Carver Agents website [https://carveragents.ai/]. Also from Carver RegWatch this week: * This Week in AI Regulations — EU AI Act high-risk classification guidelines, CNIL €487M record fines, China AI deepfake enforcement * ASEAN RegWatch — Bank Indonesia 50bps rate hike to 5.25%, MAS revokes Bsquared payment licence, Singapore insider trading convictions * USA Regulatory Updates — SEC novel ETF regulatory review, California Hermes Bitcoin kiosk enforcement, IOSCO AI supervisory toolkit * EU Regulatory Updates — EU AI Act consultation deadline June 23, CNIL cybersecurity enforcement priorities 2026, EU Solidarity Fund climate allocation * Middle East RegWatch — OFAC Adani $275M Iran sanctions settlement, OFAC Amin Exchange designation, UAE Drupal CVE-2026-8495 cybersecurity alert * India Regulatory Updates — RBI restricts Nagar Sahakari Bank, RBI cancels Yashwant Co-operative Bank licence, SEBI Investor Onboarding Regulatory Sandbox Find all series at The Carver Agents Podcast  [https://carveragents.ai/podcasts] Articles mentioned: 1. Commission seeks feedback on the draft guidelines for the classification of high-risk artificial intelligence systems [https://digital-strategy.ec.europa.eu/en/news/commission-seeks-feedback-draft-guidelines-classification-high-risk-artificial-intelligence-systems] 2. ASIC sets financial reporting, audit and sustainability focus areas for FY 2026–27 [https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-098mr-asic-sets-financial-reporting-audit-and-sustainability-focus-areas-for-fy-2026-27/] 3. El MITECO propone una tercera Modificación de aspectos puntuales de la Planificación de electricidad con horizonte 2026 [https://www.miteco.gob.es/es/prensa/ultimas-noticias/2026/mayo/el-miteco-propone-una-tercera-modificacion-de-aspectos-puntuales.html] 4. Central counterparty resolution execution and resolvability outcomes [https://www.bankofengland.co.uk/paper/2026/discussion-paper/central-counterparty-resolution-execution-and-resolvability-outcomes] 5. Malta Financial Services Authority Launches Consultation on the Tokenisation of Financial Instruments and Real-World Assets [https://www.mfsa.mt/news-item/malta-financial-services-authority-launches-consultation-on-the-tokenisation-of-financial-instruments-and-real-world-assets/] 6. Credit Unions [https://dfpi.ca.gov/regulated-industries/credit-unions/] 7. EU tracks progress towards 2030 clinical trial targets [https://www.ema.europa.eu/en/news/eu-tracks-progress-towards-2030-clinical-trial-targets] 8. Urgent Field Safety Notice for Sharpoint 2.2MM, ANGLED, DOUBLE- BEVEL Microsurgic by Surgical Specialties Mexico S. DE R.L. DE C.V. [https://www.bfarm.de/SharedDocs/Kundeninfos/EN/06/2026/18696-26_kundeninfo_en.html?nn=986784] 9. RelayPro Thoracic Stent Graft System [https://fsca.swissmedic.ch/mep/api/publications/Vk_20260518_074/documents/2] 10. Ετήσιες Εκθέσεις [http://www.hcmc.gr/el_GR/web/portal/annualreports]

Regulatory Insights: Auction 114, ETS, Gov Securities & Colorado Rules

This episode delves into significant regulatory updates across multiple sectors including the Emissions Trading System (ETS), government securities auctions, Colorado state regulations, advertising and marketing enforcement, and the FCC’s upcoming Auction 114. Notably, the FCC is preparing Auction 114 to offer 132 FM radio construction permits using a simultaneous multiple-round auction format featuring anonymous bidding to protect bidder identities. This auction marks a milestone as the first FM auction since restoration of auction authority, with detailed procedures open for public comment. In the European Union, the ETS benchmarks have been updated to reflect the latest performance data of efficient installations, extending free allocation to indirect emissions for select product benchmarks. Member States must adopt these updated benchmarks by the end of June 2026 to ensure timely allocation of free allowances. Meanwhile, India’s Reserve Bank outlined the auction process for Government of India dated securities, specifying electronic bid submission windows and payment deadlines critical for market participants. Colorado has enacted various regulatory changes across revenue, public health, education, and regulatory agencies, emphasizing compliance deadlines and opportunities for stakeholder input on proposed rules. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. FCC Plans FM Radio Auction [https://www.fcc.gov/document/fcc-plans-fm-radio-auction] 2. Questions and answers on the EU Emissions Trading System benchmarks [https://ec.europa.eu/commission/presscorner/detail/en/qanda_26_1045] 3. Child Health Plan Plus Assurance Language State Plan Amendment [https://www.coloradosos.gov/CCR/RegisterContents.do?publicationDay=05/10/2026&Volume=49&yearPublishNumber=9&Month=5&Year=2026] 4. Jena Antonucci, In the Matter of (timeline item) [https://www.ftc.gov/legal-library/browse/cases-proceedings/jena-antonucci-matter-timeline-item-2026-05-14] 5. More teachers, smaller classes | Plus d’enseignants pour de plus petites classes [https://www.alberta.ca/announcements.cfm?xID=961785D76BDAE-C848-C3AB-CB123E19E68A3232] 6. Cardiovascular diseases – health checks [https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/17812-Cardiovascular-diseases-health-checks_en] 7. Auction of Government of India Dated Securities [https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR2403A234AC695954B5483034E70F11A2B1E.PDF] 8. FCC Announces CSRIC X Membership and Seeks Working Group Nominations [https://www.fcc.gov/document/fcc-announces-csric-x-membership-and-seeks-working-group-nominations] 9. Reign Financial International, LLC and Related Litigation [https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26552-0] 10. B.E.S.T. GDR, LLC, et al., United States and State of Illinois v. [https://www.ftc.gov/legal-library/browse/cases-proceedings/best-gdr-llc-et-al-united-states-state-illinois-v]

Regulatory Insights: Vaccines, Defence, Carbon Markets & Options

This episode explores significant regulatory developments spanning vaccines, defence industry initiatives, advisory committees, carbon pricing mechanisms, and options market reforms. Key updates include the FDA Vaccines and Related Biological Products Advisory Committee's upcoming review of the COVID-19 vaccine formula for the 2026-2027 season, offering public participation via webcast and teleconference. In defence, the European Union has launched major funding programs such as the €1.5 billion European Defence Industrial Development Programme and the €115 million AGILE tool to bolster strategic autonomy and innovation. Environmental cooperation advances with the EU, Brazil, and China initiating a coalition to enhance carbon market integrity, focusing on harmonized carbon pricing and accounting standards to support the Paris Agreement. Additionally, regulatory reforms in the US options market include the SEC approval of the FINRA rescission of the Pattern Day Trading Rule and an industry-led Options Regulatory Fee reform effective July 2026. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. OAI / SBG / SB OAI JV [https://competition-cases.ec.europa.eu/cases/M.12391?from=latest-updates&caseInstrument=M&dateHighlight=2026-05-05] 2. Fixing Failures to Communicate [https://www.sec.gov/newsroom/speeches-statements/selway-options-industry-conference-050526-fixing-failures-communicate] 3. GBL / CVC / RAYNER [https://competition-cases.ec.europa.eu/cases/M.12363?from=latest-updates&caseInstrument=M&dateHighlight=2026-05-06] 4. EU, Brazil and China launch open coalition to boost integrity and effectiveness of carbon markets [https://climate.ec.europa.eu/news-other-reads/news/eu-brazil-and-china-launch-open-coalition-boost-integrity-and-effectiveness-carbon-markets-2026-05-07_en] 5. SEM schreibt Betreuungsdienstleistungen in Bundesasylzentren neu aus [https://www.uvek.admin.ch/de/newnsb/R-FtNFV4B7VLhRdd7XoVk] 6. May 11, 2026 - Pre-Agenda [https://www.nj.gov/treasury/pensions/documents/board-agendas/pfrs/pfrs0526.pdf] 7. EU and India Launch Major €15.2 Million/~₹169 Crore Joint Initiative to Revolutionize EV Battery Recycling under the India-EU Trade and Technology Council (TTC) [https://www.eeas.europa.eu/delegations/india/eu-and-india-launch-major-%E2%82%AC152-million%E2%82%B9169-crore-joint-initiative-revolutionize-ev-battery-recycling_en] 8. Vaccines and Related Biological Products Advisory Committee Meeting May 28, 2026 Announcement - 05/28/2026 [https://www.fda.gov/advisory-committees/advisory-committee-calendar/vaccines-and-related-biological-products-advisory-committee-meeting-may-28-2026-announcement] 9. RSS [https://defence-industry-space.ec.europa.eu/node/123/rss_en] 10. Hantavirus Outbreak [https://tools.cdc.gov/api/embed/downloader/download.asp?m=733939&c=765430]

Regulatory Insights: Vulnerability, CCPs, SBA Loans & CFTC Updates

This episode provides an in-depth review of regulatory updates affecting key sectors including vulnerability management, Central Counterparties (CCPs), Economic Injury Disaster Loans (EIDL), law enforcement arrests, and Commodity Futures Trading Commission (CFTC) compliance. Highlights include the Small Business Administration's continued support through EIDLs for drought-affected businesses in Washington and Oregon, offering loans with favorable terms to assist recovery efforts. The European Securities and Markets Authority (ESMA) has initiated its sixth stress test exercise for CCPs, incorporating a new recovery and resolution component to strengthen financial stability across 16 CCPs in Europe and the UK. Additionally, the CFTC has granted an extension to Nodal Clear’s compliance deadline for amended daily reporting requirements until October 31, 2026, adopting a no-action position to facilitate thorough testing. In health and safety news, Insulet Corporation recalled certain Omnipod 5 insulin pump pods due to potential internal tubing defects posing serious health risks. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. SBA Relief Still Available to Washington Small Businesses and Private Nonprofits Affected by Drought [https://www.sba.gov/article/2026/04/27/sba-relief-still-available-washington-small-businesses-private-nonprofits-affected-drought] 2. ESMA launches its sixth stress test exercise for Central Counterparties [https://www.esma.europa.eu/press-news/esma-news/esma-launches-its-sixth-stress-test-exercise-central-counterparties] 3. CP26/15: Reviewing the financial promotions rules for consumer credit [https://www.fca.org.uk/publications/consultation-papers/cp26-15-reviewing-financial-promotions-rules-consumer-credit] 4. 26-11 [https://www.cftc.gov/csl/26-11/download] 5. Update des Leitfadens für Anlagen zu Verbrennung von Siedlungsabfällen veröffentlicht [https://www.dehst.de/SharedDocs/news/DE/eu-ets-1-verbrennung-siedlungsabfall.html] 6. CamSA26-11 - Apr 27, 2026 - ក្រុមហ៊ុន Adobe ចេញផ្សាយការអាប់ដេត សុវត្ថិភាព ប្រចាំខែមេសា ឆ្នាំ២០២៦ [https://www.camcert.gov.kh/adobe-update-apr-26/] 7. Insulin Pump Recall: Insulet Removes Certain Omnipod 5 Pods [https://www.fda.gov/medical-devices/medical-device-recalls-and-early-alerts/insulin-pump-recall-insulet-removes-certain-omnipod-5-pods] 8. Midlands men arrested on 11 Child Sexual Abuse Material* charges [https://www.scag.gov/about-the-office/news/midlands-men-arrested-on-11-child-sexual-abuse-material-charges/] 9. Raising the Limit to $10 Million Reflects the Demand for Same Day ACH [https://www.nacha.org/news/raising-limit-10-million-reflects-demand-same-day-ach] 10. Manitoba Government Cracks Down on Impaired Drivers [https://news.gov.mb.ca/news/index.html?item=73600&posted=2026-05-01]

Regulatory Insights: CHMP Agendas, Supply Tensions & Carbon Peak Policy

This episode covers pivotal regulatory developments spanning the Committee for Medicinal Products for Human Use (CHMP), supply tension management, shortage prevention, environmental carbon reduction initiatives, and sewage discharge legal actions. Key topics include France’s strict contingentment protocol on Etopophos 100 mg, requiring mandatory prescription validation to prioritize critical patient use. The European Commission’s Executive Steering Group meeting highlights enhanced legislative frameworks mandating shortage prevention plans and supply interruption notifications for marketing authorisation holders. Additionally, the podcast reviews China’s comprehensive carbon peak and energy-saving policy focusing on industrial efficiency improvements and legal support frameworks. It also outlines a federal complaint against DC Water over sewage discharge violations connected to infrastructure failure. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. Tensions d’approvisionnement en Etopophos 100 mg (phosphate d’étoposide) : contingentement qualitatif strict à partir du 23 avril 2026 [https://ansm.sante.fr/actualites/tensions-dapprovisionnement-en-etopophos-100-mg-phosphate-detoposide-contingentement-qualitatif-strict-a-partir-du-23-avril-2026] 2. [Latest News] [https://www.sars.gov.za/whats-new-at-sars/] 3. Use of macrolides, lincosamides and streptogramins (MLS) in animals in the European Union - Scientific guideline - 2026-04-24 [https://www.ema.europa.eu/en/use-macrolides-lincosamides-streptogramins-mls-animals-european-union-scientific-guideline] 4. Thédéen: Vulnerabilities and resilience in a new world order [https://www.riksbank.se/en-gb/press-and-published/speeches-and-presentations/2026/thedeen-vulnerabilities-and-resilience-in-a-new-world-order/] 5. Press release - Rule of law in the EU: press conference on Tuesday 28 April at 15.30 CEST [https://www.europarl.europa.eu/news/en/press-room/20260424IPR41930/] 6. Minutes - Executive steering group on shortages and safety of medicinal products (MSSG) - 23 March 2026 - 2026-04-24 [https://www.ema.europa.eu/en/documents/minutes/minutes-executive-steering-group-shortages-safety-medicinal-products-mssg-23-march-2026_en.pdf] 7. EPA Seeks Public Input for Proposed Plan to Address Groundwater Contamination at Baird & McGuire Superfund Site [https://www.epa.gov/newsreleases/epa-seeks-public-input-proposed-plan-address-groundwater-contamination-baird-mcguire] 8. United States Files Complaint Against DC Water in Response to Potomac Interceptor Collapse [https://www.epa.gov/newsreleases/united-states-files-complaint-against-dc-water-response-potomac-interceptor-collapse] 9. 20/04/2026 - Agenda of CHMP meeting 20-23 April 2026 [https://www.ema.europa.eu/en/documents/agenda/agenda-chmp-meeting-20-23-april-2026_en.pdf] 10. 更好发挥节能降碳对推进碳达峰碳中和支撑作用——解读《关于更高水平更高质量做好节能降碳工作的意见》 [http://sthjt.hubei.gov.cn/dtyw/hjpl/202604/t20260423_5920784.shtml]