Daily · Clearing, Sanctions and Regulatory Confidence · October 2, 2026

Key points

OFAC Sanctions Designations

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published a notice stating that one or more persons were placed on the Specially Designated Nationals and Blocked Persons List (SDN List). OFAC determined that applicable legal criteria were satisfied for these designations.

All property and interests in property subject to U.S. jurisdiction belonging to these individuals are now blocked. U.S. persons are generally prohibited from engaging in transactions with them. This action requires immediate screening, blocking, and transaction-prohibition checks for firms with a U.S. nexus.

Clearing Agency Framework Amendments

The SEC published notices regarding proposed rule changes by The Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC), and National Securities Clearing Corporation (NSCC). Each filing seeks to amend the Clearing Agency Risk Management Framework.

The SEC granted immediate effectiveness to these proposed amendments. Changes to a clearing agency's risk management framework can directly affect clearing operations, risk controls, and counterparty risk expectations for market participants.

FCA Practitioner Survey Results

The Financial Conduct Authority (FCA) and the Practitioner Panel released their annual survey results. The data indicates that 79% of firms are highly satisfied with their relationship with the FCA, an increase from 74% in the previous year. Additionally, 76% of firms rated the FCA as a highly effective regulator, up from 69% last year.

Trust levels also rose, with 75% of firms reporting high levels of trust in the FCA. Firms expressed the highest confidence in the regulator's work to protect consumers (87%), ensure markets work well (85%), and enhance the integrity of the UK financial system (85%). Understanding of the Secondary International Competitiveness and Growth Objective increased by 27 percentage points, while confidence in its delivery rose by 25 percentage points.

The survey also noted that 88% of firms understand FCA expectations regarding supporting consumers and embedding the Consumer Duty. The FCA stated it is simplifying reporting by removing outdated or duplicated data returns for 90% of firms.

ECB Decisions and EBA Guidance

The European Central Bank (ECB) Governing Council took decisions in addition to those setting interest rates. These non-rate decisions can influence euro-area monetary policy implementation and financial-market expectations.

Separately, the European Banking Authority (EBA) published an e-mail alert announcing Final Q&As 2026_7779. This guidance addresses the scope of Article 6 lit. c RTS, providing clarification for EU firms on how to interpret this provision in their compliance work.

US Exchange and SEC Rule Updates

The SEC published notices approving immediate rule changes for several US exchanges. NYSE Arca, Inc. amended Rule 5.32-O, while NYSE American LLC amended Rule 903G. Long-Term Stock Exchange (LTSE) updated its market maker rules to provide mechanisms for initiating and operating a market maker program.

Nasdaq Texas, LLC filed a rule change to modify the Rule 5000 Series to transition to a primary listing venue. North American Derivatives Exchange, Inc. filed rules governing contract specifications for perpetual cash-settled single stock security futures. The SEC also amended its internal rules concerning quorum requirements to promote flexibility and finality in agency rulemaking.

Our read

The immediate effectiveness of the DTC, FICC, and NSCC framework amendments signals a rapid shift in US clearing risk standards, requiring firms to update counterparty risk models without a transition period. The OFAC designations demand urgent operational response from any entity with US exposure, as blocking obligations are absolute. In the UK, the significant rise in firm confidence suggests that the FCA's recent simplification efforts and clear communication on the Consumer Duty are resonating with the industry, potentially reducing friction in supervisory interactions.

This digest was produced automatically by a large-language-model system from the regulator publications and official sources listed below; it is AI-generated content and may contain inaccuracies. It is not legal advice — verify wording and deadlines against the original documents.

Sources