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QFCRA RM/2026-3QFC Regulatory Authority

QFCRA RM/2026-3 — Market-risk and miscellaneous amendment deadlines

QFCRA's 5 October 2026 final amendment has two commencement dates: 1 November 2026 for miscellaneous changes and 1 April 2027 for BANK/IBANK market-risk schedules.

Issued
05.10.2026
Published
Guide reviewed
11.10.2026
Instrument
QFCRA RM/2026-3

Action at a glance

What this instrument asks you to do

QFCRA RM/2026-3, dated 5 October 2026, does not make every amendment effective on issue. Rule 2 brings BANK and IBANK Schedules 1–2 into force on 1 April 2027; the remainder, including miscellaneous Schedule 3, comes into force on 1 November 2026.

Source-backed

Stated legal requirements

Requirements below are attributed to the instrument or cited guidance; each item includes its source location.

  1. 01

    Apply the separate commencement dates: Schedules 1–2 from 1 April 2027 and the remainder including Schedule 3 from 1 November 2026.

    Citation · Rule 2, printed page 1

  2. 02

    Schedule 1 amends BANK; Schedule 2 amends IBANK. Schedule 3 amends COLL, GENE, CTRL and INMA, so review applicability beyond banking market risk.

    Citation · Rule 3 and contents pages

  3. 03

    The substituted BANK rule 3.1A.11(2) requires trading-book policies for inclusion/exclusion, management/reporting, valuation and distinction from banking activities. This reviewed provision belongs to the April 2027 schedule.

    Citation · Schedule 1 [1.2], printed page 2

Dates and applicability

Timing, grace period and deadline

Timing

Signed cover date: 5 October 2026. Public rulebook listing found at the 11 October review; a separate upload/publication date was not provided. 1 November 2026 and 1 April 2027 are future commencement dates as of that review.

Grace period

The staged commencement dates are explicit. Do not describe them as an additional universal grace period or an immediate obligation already in force on 5 October.

Historical deadline

01.11.2026

Historical date specified by the instrument. This page does not determine your current compliance status.

Expit suggested practices

Build a reviewable closure record

These suggested actions are implementation practices, not additional legal requirements.

  1. 01

    Split the regulatory-change programme by schedule and entity scope.

    Suggested owner
    Regulatory change lead / legal
    Evidence to retain
    Schedule-level applicability matrix and both commencement dates
    Complete when
    Every applicable miscellaneous change is assigned to the November programme; BANK/IBANK schedule changes are separately assigned to April.
    Expit support context
    Evidence-linked workflow dates can prevent a single incorrect deadline being applied to all amendments.
  2. 02

    Review trading-book policies and market-risk implementation evidence.

    Suggested owner
    CRO / treasury / model governance
    Evidence to retain
    Current policies, clause comparison, control gaps and approved implementation plan
    Complete when
    Relevant gaps have approved owners and deliverables for the applicable commencement, without claiming a completed full-model review.
    Expit support context
    Document comparison can support control review; quantitative prudential interpretation remains with qualified specialists.
  3. 03

    Review COLL, GENE, CTRL and INMA changes before November.

    Suggested owner
    Affected business heads / compliance
    Evidence to retain
    Schedule 3 review, rulebook versions and sign-offs
    Complete when
    Applicable non-market-risk changes are not overlooked because the title emphasises banks.
    Expit support context
    Workflow routing can make the broader scope visible; no automatic compliance verdict is provided.

Further clarification

Frequently asked questions

Do the new BANK and IBANK market-risk schedules apply from October 2026?

Rule 2 specifies 1 April 2027 for Schedules 1–2. The remainder, including Schedule 3, starts 1 November 2026.

Is 1 April 2027 the only deadline in RM/2026-3?

No. Miscellaneous changes in Schedule 3 and the remainder commence 1 November 2026. Scope the programme by schedule.

Are these final rules or a consultation?

The instrument appears in the official 2026 final rule-making section as QFCRA RM/2026-3. It is not presented here as a consultation proposal.

Primary references

Official sources

  1. Official RM/2026-3 final amendment PDF (opens in a new tab)

    Cover dated 5 October, Rule 2, Rule 3 and Schedule 1 [1.2] reviewed; full market-risk model not analysed.

    SOURCE 01
  2. Official QFCRA 2026 rule-making catalogue (opens in a new tab)

    Final-instrument listing; no separate upload date shown.

    SOURCE 02

Read with care

Enforcement and limitations

Enforcement stated in source

QFCRA supervises authorised financial activity in/from the QFC under its Financial Services Regulations and applicable rules. No fixed penalty or case-specific enforcement outcome is inferred from these amendments.

Limitations of this guide

Review limited to the dated cover, commencement, affected books and selected BANK trading-book policy clause. This is not an exhaustive analysis of the 122-page instrument or a capital-model validation. Review the full instrument, current consolidated rulebooks and firm-specific permissions before designing changes.