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US Securities and Exchange Commission fines Zoe Financial USD 450,000 over referral conflict disclosures
The US Securities and Exchange Commission fined Zoe Financial USD 450,000 for inadequate disclosures about conflicts in its adviser referral service. The firm had incentives to direct clients to advisers using its Zoe Wealth platform, while salespeople frequently recommended advisers outside its algorithm’s results. Zoe Financial also accepted a censure and cease-and-desist order without admitting the findings.
United Arab Emirates Ministry of Finance convenes Arab finance leaders on financial stability, AI and tax standards
The United Arab Emirates Ministry of Finance convened Arab finance leaders to discuss fiscal conditions, macroeconomic resilience, AI, sustainable finance and international tax standards. The UAE outlined plans to move 50% of federal operations and services to Agentic AI models within two years and reiterated its application of the domestic minimum top-up tax from 2025.
Central Bank of the Republic of Guinea advances leasing law revision through stakeholder workshop
The Central Bank of the Republic of Guinea and the International Finance Corporation reviewed a draft revision of the country’s leasing law with stakeholders. The reform would clarify the framework, correct identified shortcomings and improve legal certainty while supporting small and medium-sized enterprises’ access to equipment and productive investment.
Ghana Securities and Exchange Commission issues guidelines for offering and distributing foreign funds
The Ghana Securities and Exchange Commission has issued guidelines for offering, marketing and distributing foreign funds in Ghana. Schedule 1 identifies the eligible fund types, and the guidelines apply alongside other applicable laws.
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Last update: 37 min agoView the key developments for the period from September 21 - 27 2026 in the latest Global Regulator & Central Bank News Roundup. Access Regxplora on the go with our new iOS app.
Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.
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240 updates in the past 7 daysThe Cyprus Ministry of Finance has formalized the appointments of Giorgos Karatzias as chair and Loukas Lagoudis as vice chair of the Cyprus Securities and Exchange Commission. Their appointments have been effective since Sept. 15, 2026.
The Office of the Commissioner of Financial Institutions of Puerto Rico immediately revoked Banex International Bank’s license, ordered it to cease operations and placed it into receivership and liquidation after finding it insolvent. The regulator cited more than USD 24 million in untraceable funds, capital funded with depositors’ money and extensive related-party receivables. It also proposed USD 534,000 in administrative fines, subject to adjudication.
The Office of the Commissioner of Financial Institutions of Puerto Rico ordered Banex International Bank into liquidation and appointed Driven P.S.C. as receiver after finding it insolvent. The regulator cited USD 46.9 million in depositor obligations against USD 10.2 million in cash and cash equivalents, more than USD 24 million in unverified in transit funds and extensive related party receivables. The receiver will take control of the institution, recover and liquidate assets, and administer depositor and creditor claims.
The Cyprus Ministry of Finance formalized the appointments of George Karatzias as CySEC chairman and Loukas Lagoudis as vice chairman. Their appointments have been effective since Sept. 15, 2026.
The Central Bank of the Dominican Republic is consulting on changes to the prudential capital adequacy rules that would incorporate operational risk capital into the solvency ratio formula. The amendments would align the framework with the revised Regulation on Operational Risk and apply from April 12, 2027.
Egypt’s Financial Regulatory Authority and the National Council for Women signed a protocol to expand women’s access to nonbank finance, financial technology and financial education while strengthening fraud prevention. The initiative includes joint training, data sharing and support for women-owned businesses, overseen by a joint committee.
Saudi Arabia’s Capital Market Authority is consulting on tighter IPO rules that would require book building orders to reflect participants’ actual liquidity and become binding for payment. The proposals would strengthen underwriting obligations and require issuers to provide at least one year of forward looking financial information. If approved, the provisions will take effect on Nov. 2, 2026.
The Reserve Bank of India has standardized commercial banks’ valuation of InvIT and REIT instruments with immediate effect. Quoted holdings follow existing quoted security rules, while unquoted units generally use disclosed net asset value and must be valued at INR 1 if required disclosures are not made or the units are classified as infrequently traded.
The Reserve Bank of India has standardized local area banks’ valuation of InvIT and REIT instruments with immediate effect. Quoted holdings follow existing quoted security rules, while unquoted units generally use disclosed net asset value and must be valued at INR 1 if required disclosures are not made or the units are classified as infrequently traded.