LMA Regulatory Insights - Feb 2026 - LMA- Loan Market Association

Jesse Beardsworth
LMA
Regulatory

February 2026

The policy agenda in the EU and the UK is gathering pace – with the European Commission (EC) issuing a consultation and call for evidence on bank competitiveness and the FCA and PRA launching a consultation on securitisation regulation. See the LMA Regulatory Scanner for the latest regulatory developments impacting the loan markets.

On the advocacy front, the LMA has just published a position paper on EU’s proposed amendments to the Sustainable Finance Disclosure Regulation (SFDR 2.0). We are actively speaking to policy makers to reinforce the points we make in this paper (as well as our recent position paper on the EU’s proposed amendments to its securitisation reforms).

The LMA continues to organise multiple regulatory-focused member events. See below for more details. A recent highlight was our first bi-monthly Member Briefing on Public Policy & Regulatory Developments. More than 100 members joined to hear updates from experts at A&O Shearman, Clifford Chance, Debevoise & Plimpton, Orrick, and Simmons & Simmons. The next briefing will be on 16 April, 10:00–11:00 GMT. Save the date now, registration will go live next month.

Finally, we will soon announce details of our first in-person LMA Regulatory Seminar – in Brussels on the evening of 30 April. Stay tuned for more.

If you have any questions or would like further information about our work, please do not hesitate to contact Jesse Beardsworth or Evelien Alblas.

LMA Regulatory Scanner

The February edition of the LMA Regulatory Scanner is now available to members. This edition highlights key updates and upcoming changes impacting the loan markets – including Article 21c of CRD VI, securitisation, private credit, sustainable finance, and more.

Advocacy and Submissions

We are engaging with members to consider a targeted response to the EC’s consultation on bank competitiveness
We will engage with members to consider responding to the FCA’s and PRA’s consultation on securitisation (as soon as it is issued)
On 19 February, the LMA published its position paper on EU’s proposed amendments to the SFDR 2.0
On 9 February, we updated the LMA’s Article 21c Tracker for CRD VI with the latest on Member State transposition

Meetings and Roundtables

17 February, we hosted a briefing call with Freshfields on the EC’s consultation and call for evidence on bank competitiveness
4 February, we hosted a roundtable with Anne Wrobel (FCA Head of Wholesale Market Analysis & Policy) on the then impending FCA/PRA consultation on securitisation (including CLO transparency and reporting) and the FCA thinking on private credit – see member note here
29 January, our first Member Briefing on Public Policy & Regulatory Developments covered the EU securitisation proposals, Article 21c, the HM Treasury consultation on benchmarks, and more
27 January, we hosted a roundtable with A&O Shearman and Clifford Chance to consider the impact of Article 21c on secondary loan trading – see member note here
13 January, we hosted a roundtable with the European Commission and European Central Bank on private credit and non-bank financial intermediaries – see member note here

Share Your Thoughts

Here is a list of open consultations LMA is tracking and considering whether to respond to. To share your view or would like to be involved, please contact Jesse Beardsworth or Evelien Alblas.