The Australian Competition and Consumer Commission has blocked IAG’s proposed acquisition of RAC Insurance, finding it would likely substantially lessen competition in Western Australia’s motor vehicle and home and contents insurance markets. The deal would give IAG estimated market shares of 55% to 65% and 50% to 60%, respectively, while other insurers would be unlikely to provide sufficient competitive constraint.

Kazakhstan’s financial market regulator plans to develop Islamic insurance windows that would let existing insurers offer takaful products without creating separate companies. The operations would require segregated accounts, Sharia compliant investment and governance, and regulatory oversight. Products could be introduced progressively, beginning with core family and general takaful coverage.

The Reserve Bank of Australia found that ASX’s clearing and settlement facilities still partly observed standards covering governance, comprehensive risk management, credit risk and operational risk. It upgraded ASX Clear and ASX Settlement from not observed to partly observed for operational risk after specific CHESS improvements, but said this did not indicate broader progress in ASX’s operational risk management.

The South Korea Financial Services Commission unveiled eight measures to expand P2P credit for individuals and sole proprietors with low and medium credit scores. The plan raises investment limits for qualifying platforms, financial institutions and general investors, while improving maturity extensions and small-business credit assessment. It also strengthens audits, disclosures, advertising controls and arrangements for closing failed platforms.

The Thailand Office of Insurance Commission trained 134 mediators, executives and staff as it shifts consumer protection toward preventing insurance complaints and disputes at source. Its approach emphasizes stronger insurer service and claims standards, compliance with service level agreements and more effective internal complaint reviews before cases escalate.

The Office of the Commissioner of Financial Institutions of Puerto Rico immediately halted Banex International Bank’s operations, revoked its license and appointed a receiver to conduct an orderly liquidation. The regulator found Banex insolvent and unable to meet depositor obligations, citing severe liquidity problems, more than USD 24 million in unverified funds and over USD 18 million in related party receivables. It also proposed USD 534,000 in penalties, subject to administrative proceedings.

The Office of the Commissioner of Financial Institutions of Puerto Rico ordered Banex International Bank to cease operations immediately, revoked its license and appointed a receiver to liquidate it. The regulator found Banex insolvent, citing insufficient capital and liquidity, more than USD 24 million in unverified funds and over USD 18 million in related party receivables. It also proposed fines totaling USD 534,000, subject to administrative proceedings.

The FECI Commission, chaired by the Superintendency of Banks of Panama, updated three interpretive criteria and approved internal rules governing its operations and decision-making. The superintendency will formalize and publish approved criteria for entities subject to the regime and also presented the fund’s financial results as of June 30, 2026.

U.S. House Financial Services Committee Chairman French Hill and Senator Tom Cotton have introduced legislation providing small broker-dealers in good standing with relief from certain audit requirements. The bill is intended to reduce compliance costs for affected firms.

Commodity Futures Trading Commission Chairman Michael S. Selig directed staff to prepare rulebook changes permitting futures commission merchants to conduct cleared repo transactions involving customer funds before the June 2027 Treasury repo clearing deadline. He also called for more integrated oversight of Treasury cash and derivatives markets and continued work on cross-margining and capital treatment. Future policy will address tokenized collateral, stablecoins and product-specific safeguards for any expansion of 24/7 trading.

The U.S. Securities and Exchange Commission censured OTC Link LLC and imposed a USD 575,000 penalty for Regulation SCI policy and remediation failures that persisted from August 2016 through March 2025. The broker-dealer repeatedly failed to resolve deficiencies involving system security, access controls and vulnerability management despite multiple SEC examinations.

The Securities Commission of The Bahamas reported that financial regulators will hold a joint industry session before the country’s upcoming CFATF on-site assessment. The group also reviewed planned Crypto-Asset Reporting Framework legislation and coordinated work on sanctions reporting, financial literacy, cyber risk and artificial intelligence.