2026 capital markets regulatory outlook
Message from the Deloitte Center for Regulatory Strategy
In 2026, industry will continue to implement significant regulatory change initiatives. At the same time, an evolving regulatory approach is driving potentially seismic changes in the US capital markets. For our 2026 capital markets regulatory outlook, we’ve identified three key regulatory themes: rule modernization, market structure, and innovation.
In 2025 federal US market regulators decelerated the pace of new regulations impacting the industry. New agency leadership charted a different policy direction and began to advance a fresh slate of priorities. In 2026, we expect this momentum to continue as regulators mature their policy approaches and begin the next phase of their agendas.
Later this year, the industry will close the implementation phase of significant mandates, including the move to central clearing for the US Treasury markets. As these years-long initiatives come to fruition, experimentation with new market structures and business models could become reality through innovation and no action exemptions supported by the regulators.
Read our 2026 regulatory outlook to understand:
- What the US market regulators’ key priorities are for 2026;
- How the current regulatory approach is shaping forces of innovation;
- What market structure developments the industry could see in 2026; and
- How the regulatory environment is likely to impact the competitive landscape.
The US capital markets are poised for significant change in 2026, and regulatory approaches will play an essential role in shaping the outcome. We hope this regulatory outlook challenges you to think critically about your firm’s role in the competitive landscape. We’re here to help you shape what that looks like this year—and next.
