This issue of Finance and Markets Global Insight reflects the ongoing evolution of global financial markets as financers and businesses continue to grapple with the two key themes of innovation and regulation. There’s discussion on the implantation of the revised regulatory framework for derivatives and securitization, as structurers deal with variation margin implantation, and debate around Article 17 of the Securitization Regulation concerning the exclusion of self-certified mortgages. We see how the Nordics are implanting PSD 2 and look at European Central Bank guidance to banks on dealing with non-performing loans. We also weigh up the booming initial coin offerings market, and consider the European Commission’s consultation on the impact of FinTech and its role in driving a more competitive and innovative European financial sector. This issue also reports on a new set of framework principles for social bonds to encourage interest in environmental, social and ethically sound investments, the European Union’s plan for retail financial services and the FX Global Code. It also brings a US perspective on the risks inherent in trade and commodity finance.