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2026-05-13•Global•World Bank
The World Bank’s latest Kazakhstan Economic Update projects resilient but slowing growth, from 6.5 percent in 2025 to 4.6 percent in 2026 and around 3.5 percent by 2028, as oil output normalizes and structural constraints emerge. Inflation is expected to stay above the 5 percent target through at least 2027, with upside risks from fiscal stimulus and tariff liberalization, while monetary policy transmission is weakened by entrenched expectations and rapid credit growth. The report stresses that gaps in foundational skills are weighing on productivity and job quality, making human capital development central to diversification, and notes that higher oil prices temporarily bolster fiscal and external positions amid geopolitical and quasi-fiscal risks.
ResearchEconomic data and developments
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2026-05-13•Global•International Monetary Fund
The International Monetary Fund has published a country report on Liberia covering the third review of its 40‑month Extended Credit Facility and a request for an arrangement under the Resilience and Sustainability Facility, noting that the program is helping restore fiscal credibility, debt sustainability and financial sector stability. The report underscores Liberia’s high exposure to climate and pandemic risks, with recent shocks and a fragile health sector, alongside declining external donor support, constraining development prospects.
ResearchOther
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2026-05-13•Global•International Monetary Fund
In its staff concluding statement for the Netherlands’ 2026 Article IV consultation, the International Monetary Fund projects growth of 1.0 percent in 2026 and 1.3 percent in 2027, with headline inflation at 2.9 percent in 2026 and around 2.5 percent in 2027–2028, and warns of downside risks from higher energy prices. It supports targeted energy support and a broadly neutral fiscal stance, but calls for structural reforms, including tighter borrower-based housing measures such as lowering the maximum loan-to-value ratio to 90 percent, phasing out mortgage-interest deductibility and reducing interest-only mortgages, as well as tax, health and pension reforms to safeguard long-term fiscal sustainability.
ResearchEconomic data and developments
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2026-05-13•Ukraine•Ukraine National Commission on Securities and Stock Market
The National Securities and Stock Market Commission of Ukraine adopted a Regulation on insider information and its disclosure on capital markets, approved its implementation plan under Ukraine’s programme to align legislation with the EU acquis, and cleared draft resolutions on indicative lists of issuers’ legitimate interests and information subject to disclosure under Article 133-1 of the Law on Capital Markets and Organized Commodity Markets. It also adopted measures on internal governance and supervisory structures, and issued decisions on securities operations, issuances, registrations, cancellations and key risk, compliance and internal audit appointments at professional market participants.
Policy & regulationRules & requirementsOther
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2026-05-13•Greece•Ministry of National Economy and Finance (Greece)
Greece’s National Economy and Finance Minister Kyriakos Pierrakakis used a parliamentary debate on a bill transposing EU tax administrative cooperation amendments and pension provisions to restate the government’s economic stance, rejecting opposition calls for an extraordinary bank tax and insisting support measures remain temporary and targeted. He cited improved macro indicators, including a projected debt-to-GDP ratio of 136%, and an IMF review endorsing targeted aid for vulnerable groups and the EUR 0.20 per litre diesel subsidy. He also noted Bank of Greece data showing 2025 bank profits mainly driven by lower credit-risk provisions and impairment losses, and private-sector credit growth shifting from about -0.4% in 2019 to 10% in 2025.
Policy & regulationOther
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2026-05-13•Sweden•Ministry of Finance (Sweden)
The Ministry of Finance (Sweden) has issued a legislative referral proposing a new tax-transparent securities fund structure limited to institutional investors managing pension assets or other public capital. The fund would not be a separate taxable entity, with unitholders taxed on an ongoing basis, aiming to offer a more cost-effective, tax-advantageous domestic alternative to foreign tax-transparent funds and enhance the competitiveness of Swedish fund companies.
Policy & regulationRules & requirementsOther
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2026-05-13•Oman•Oman Financial Services Authority
The Oman Financial Services Authority received the Urban Compliance Certificate for Buildings for meeting approved planning, technical and regulatory standards for its building. The recognition also reflects compliance with Oman Building Code-based requirements and the authority’s focus on workplace sustainability and infrastructure efficiency.
Institutional developmentCooperation & capacity buildingCompliance
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2026-05-13•Kyrgyzstan•State Service for Regulation and Supervision of Financial Markets
The Kyrgyz Republic State Service for Regulation and Supervision of Financial Markets warned that unknown persons are creating fake messenger accounts and using voice generation technology to impersonate Chairman Kairat Adamkalievich Mamatov. The authority urged citizens to remain vigilant, not to share personal data, and to verify information only through official sources.
SupervisionAlerts
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2026-05-13•Qatar•Qatar Financial Centre
The Qatar Financial Centre has signed a Memorandum of Understanding with Commercial Bank to facilitate access to customised banking products and immediate banking services for firms and employees licensed on its platform. The agreement also establishes a framework for collaboration in fintech and digital assets, including joint ecosystem initiatives and testing of tokenisation opportunities through the Qatar Financial Centre Digital Assets Lab.
Policy & regulationCooperationFintech and insurtechMarket development
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2026-05-13•Global•ISDA
The International Swaps and Derivatives Association outlined the next phase of its Digital Regulatory Reporting initiative, adding artificial intelligence tools to support interpretation and coding of regulatory reporting rules, with the platform now covering eight global rule sets. ISDA has selected Gentek AI to build a traceability tool to create an audit trail of DRR decision-making and is developing an AI-driven translator agent to convert new or updated reporting requirements into code, with initial AI agents expected later this year.
Policy & regulationImplementation, projects & pilotsArtificial intelligenceRegtech and suptech
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2026-05-13•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has issued a non-binding briefing for National Resolution Authorities on operationalising the write-down and conversion of instruments tool in central counterparty resolution plans, covering methodologies for loss absorption, recapitalisation and impact assessment. The guidance sets minimum data requirements, calibrates loss-absorbing resources, sequences the tool relative to other resolution and government stabilisation tools, and details operational steps such as issuing new shares and handling listings. It forms part of ESMA’s work on a single resolution rulebook and requires a business reorganisation plan and subsequent viability assessment if the tool is applied.
Policy & regulationGuidance & interpretationCCPs
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2026-05-13•China•Central Bank of the Republic of China
The People's Bank of China reported that Deputy Governor Xuan Changneng attended the Bank for International Settlements governors' regular meeting in Basel on 10–11 May, where central bank governors discussed global economic and financial conditions, oil price shock transmission, monetary policy responses and risk challenges facing emerging market economies. Xuan also held bilateral meetings with several participating central bank representatives on issues of mutual interest.
Policy & regulationCooperationMonetary policy decisions and developments
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2026-05-13•Isle of Man•The Treasury (Isle of Man)
The Treasury (Isle of Man) has launched the Sanctions risk assessment tool 2026, a structured questionnaire to help businesses assess sanctions risks associated with specific activities. The tool is designed to support checks on potential dealings with listed persons or entities, but is intended only as guidance and not a substitute for legal advice.
Policy & regulationGuidance & interpretationNew sanctions designations
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2026-05-13•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) has published its 2025 annual report, highlighting a strong rebound in Spanish capital markets and continued growth in collective investment, with equity trading in Spanish shares up 40.5% to EUR 1.01 trillion and collective investment vehicle assets up 13% to EUR 486 billion. Supervisory activity remained intensive, including information requirements on disclosures, CFD advertising, FX derivatives, AI use and initial authorisation work for crypto-asset service providers. Market oversight and enforcement remained robust, with more than 70 million transaction reports reviewed, 71 fines totalling EUR 19.4 million and significant investor protection activity.
SupervisionOtherSupervision process and methodologiesMarket infrastructureTrading
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2026-05-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan published results of its 13 May 2026 foreign exchange purchase auction, which attracted eight participants. Accepted bid sizes ranged from USD 100,000 to USD 5.02 million, with a weighted average rate of 9.3530 USD/TJS.
Monetary policyMonetary policy instruments & operationsOther
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2026-05-13•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission is consulting on draft amendments to credit rating rules for bonds with foreign risk exposure to align with international credit rating agency practices and support issuer fundraising. The proposal would require both issuer and expected issue ratings from an international credit rating agency, maintain a minimum investment grade for new issuers with limited waivers, and introduce enhanced disclosure of expected and final ratings, including explanations where final ratings differ.
Policy & regulationRules & requirementsCredit ratings
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2026-05-13•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revoked the approval of Miss Suntaree Kitipanya as an Investment Consultant for Complex Products Type 1 and will not accept any application from her to act as capital market business personnel for 10 years starting 13 May 2026. The action follows findings that, while at Krung Thai Bank Public Company Limited, she misappropriated assets from 11 clients between April 2018 and December 2024, causing losses of THB 115,550,000, falsified documents and account statements to conceal the misconduct, and later admitted wrongdoing, with losses reimbursed by her and the bank.
EnforcementSanctions & designations
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2026-05-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has issued a public warning highlighting recent bank press releases on fraudulent websites, fake internet banking login screens, phishing emails and other scams. It reiterates that banks will not send embedded hyperlinks for transactions or request sensitive information such as login passwords or One-Time Passwords by phone, email or SMS, and advises customers to contact their bank and report incidents to the Crime Wing Information Centre of the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2026-05-13•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has informed supervised firms that they do not need to submit a separate report using the European Anti-Money Laundering Authority eligibility template, as the additional data will be collected via existing AFM supervisory questionnaires. The same approach will apply to managers of investment funds and UCITS, who will receive related questions in June or July, and firms should not expect any additional AFM request based on the AMLA template.
SupervisionRegulatory reportingAML and CFT
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2026-05-13•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered Italian providers to block five websites offering insurance services illegally, bringing the total number of blocked sites to 372 since it gained website blocking powers in November 2023. IVASS also warned consumers to be cautious of policy offers via instant messaging or text, requests for payment by prepaid credit card, and websites not listed among its supervised insurance intermediaries and insurance undertakings.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-13•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has approved a new Rule on stress testing in banks, establishing a single framework for conducting, assessing and reporting stress tests to strengthen bank and sector-wide risk resilience. It sets detailed requirements for stress testing principles, programme content, modelling, validation, scenario and sensitivity analysis across key risk types, and related reporting and supervisory assessment. The central bank has also amended banking corporate governance and risk management rules to align them with the new regime, which reflects international practice and forms part of the 2024–2026 Financial Sector Development Strategy.
Policy & regulationRules & requirementsStress testing
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2026-05-13•Europe•European Central Bank
The European Central Bank has published a working paper under its Lamfalussy Fellowship Programme finding that higher firm-level biodiversity risk is associated with significantly higher syndicated loan spreads for U.S. borrowers from 2007 to 2023, suggesting banks mainly adjust through pricing rather than credit rationing. Using a new text-based biodiversity risk indicator derived from 10-K disclosures, the study shows stronger loan pricing effects after environmental violations and for firms with weaker environmental performance, while finding limited impact on banks’ syndicate participation or differential responses by lenders from more environmentally vulnerable countries.
ResearchNature-related risk
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2026-05-13•Europe•European Central Bank
The European Central Bank published a working paper analysing how supervisory judgement influences euro area banks’ Supervisory Review and Evaluation Process scores and Pillar 2 capital requirements under the pre‑2026 framework. Using data from nine SREP cycles, the authors find that judgement is a material driver of SREP score changes, with a common supervisory judgement channel evident across the euro area and factors such as business model assessments helping explain Pillar 2 requirement adjustments.
Research
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2026-05-13•Europe•European Central Bank
The European Central Bank published research showing the euro area labour force grew by 7.8 million between late 2019 and mid-2025 to 173 million, with higher participation and net migration offsetting demographic ageing and supporting more than half of GDP growth in most quarters since late 2021. The paper finds older workers and migrants are the main drivers of labour force growth, helping reduce unemployment and ease labour shortages, while highlighting persistent issues such as below pre-pandemic average hours worked in several countries, a 9 percentage point gender participation gap, and a 40% overqualification rate among non-EU citizens.
Research
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2026-05-13•Zambia•Bank of Zambia
Bank of Zambia cut its policy rate by 25 bp to 13.25 % at the 11–12 May 2026 MPC meeting, extending a 100 bp easing cycle since November 2025 while leaving other instruments unchanged. The move reflects a stronger kwacha and favourable maize harvest keeping inflation within the 6–8 % target (April 6.8 %), though risks from global oil prices and potential El Niño persist; next review is scheduled for 28–29 September 2026.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-13•Europe•European Central Bank
The European Central Bank published research finding that population ageing has so far had only a limited drag on euro area employment, as later retirement has offset the negative compositional effect of an older workforce. Older workers aged 55-74 accounted for most of the 1.7 percentage point rise in the employment rate since early 2022, driven by higher labour force participation and a trend towards later retirement. The research notes further scope for higher employment among older workers, while stressing that future gains will depend on statutory retirement age changes and health.
Research
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2026-05-13•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has extended to 15 June 2026 the deadline for insurance companies and pools to submit periodic financial statements for the period ended 31 March 2026, including disclosures and the external auditor’s report, under the Unified Insurance Law No. 155 of 2024 and related decisions. The board had earlier extended to 15 May 2026 the deadline for these entities to present annual financial statements for the year ended 31 December 2025 to their general assemblies, with related disclosures, the auditor’s report and the board report.
Policy & regulationRules & requirementsOther
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2026-05-13•Germany•German Bundesbank
The German Bundesbank reported that Germany’s current account surplus rose to EUR 23.6 billion in March 2026, up EUR 3.1 billion from February, as stronger services and income balances more than offset a smaller goods surplus. Germany recorded net capital exports of EUR 17.6 billion, driven by direct investment outflows of EUR 23.0 billion and net inflows in portfolio and other investment, while the Bundesbank’s reserve assets increased by EUR 0.5 billion.
Data & statisticsBalance of payments and other external statistics
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2026-05-13•Germany•German Bundesbank
The German Bundesbank reported that in March domestic debt securities saw net redemptions of EUR 9.8 billion, which were more than offset by a EUR 12.5 billion increase in foreign debt securities, leaving total bonds outstanding in Germany up EUR 2.7 billion. The public sector was a net domestic issuer at EUR 15.9 billion, while domestic banks and companies reduced debt, and domestic companies raised EUR 1.3 billion in equity and domestic investment funds recorded inflows of EUR 2.5 billion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-13•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini’s March/April 2026 Recent Economic Developments review reports a slight moderation in late-2025 activity alongside continued disinflation, with quarterly GDP growth easing to 5.7 per cent year on year in the fourth quarter of 2025 and consumer price inflation falling to 1.6 per cent in March 2026. Policy rates were unchanged, while private sector credit rose 8.1 per cent to SZL23.2 billion and broad money grew 17.1 per cent to SZL27.8 billion. Gross official reserves increased to SZL10.2 billion, public debt declined to SZL39.5 billion or 37.9 per cent of GDP, and the trade surplus narrowed to SZL794.2 million.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2026-05-13•Serbia•National Bank of Serbia
The National Bank of Serbia announced details for the June 2026 professional examination for obtaining the title of authorized actuary, including application requirements under the Decision on acquiring the title and continuing professional development of an authorized actuary. The authority specified exam and authorization fees of RSD 20,000, reduced to RSD 10,000 for repeat sittings, alongside applicable republic administrative taxes.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Serbia•National Bank of Serbia
The National Bank of Serbia, in its May 2026 Inflation Report, raised its inflation projection and cut 2026–2027 GDP growth forecasts, citing higher global energy prices from the Middle East conflict, while keeping the policy rate at 5.75%. Inflation is seen within target through Q3 2026, slightly above the band in late 2026–early 2027, then back within it by Q2 2027, assuming a temporary energy shock and easing commodity prices from Q3 2026. The bank projects a current account deficit of about 6% of GDP in 2026, narrowing to about 4% in 2027, and said monetary policy will depend on the duration of the energy shock and its pass-through to prices and expectations.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-05-13•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam has updated its Alert List to include Brunei Capital Financing and its aliases Capital Financing BN, Pinjaman Wang Brunei and Syarikat Loan Wang Trusted, which are not licensed or regulated by the central bank. It reiterated that the public should only use licensed financial institutions for services such as money remittance, money changing, money lending and pawn broking, as customers of unlicensed entities are not protected by its regulatory framework.
SupervisionAlertsSanctions list update
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2026-05-13•Comoros•Central Bank of Comoros
The Central Bank of Comoros has launched four projects to modernize the national financial system: KomorPay, Komor Switch, Mali Ya Wakazi and a public securities market. KomorPay has been operational since April 23, 2026 and is intended to speed up and secure interbank payments. Komor Switch and the agent banking network are being rolled out, while the public securities market has completed pilot tests and will start progressively.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsMarket infrastructure
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2026-05-13•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has published a recorded webinar on money laundering, terrorist financing and proliferation financing risk assessments, emphasising that firms should adopt tailored, proportionate processes aligned to their specific risks and sector. Delivered by senior AML/CFT supervisors, the webinar outlines the risk assessment cycle, interaction of procedures and controls with risk management, and key Anti-Money Laundering and Countering the Financing of Terrorism Code requirements, with related guidance in the AML/CFT Handbook.
Policy & regulationGuidance & interpretationAML and CFTRisk analysis and outlook
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2026-05-13•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic held an awards ceremony marking Banking Worker Day, recognizing contributors to the creation of the ELQR system and the national QR code standard. The central bank highlighted the rollout of this infrastructure as a key stage in the digital transformation of the country’s financial sector, with awards granted for professionalism, long service and contributions to digital financial technologies.
OtherOperational excellence
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2026-05-13•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has suspended the licence of Euro Lust LLC exchange bureau from 13 to 17 May 2026 for breaches of Kyrgyz Republic legislation and the National Bank’s regulatory legal acts. The suspended licence was issued on 7 August 2023 and relates to the bureau located in Bazar-Korgon, Jalal-Abad region.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2026-05-13•Global•Bank for International Settlements
The Bank for International Settlements has published a working paper on the 1805–1806 financial crisis after the Battle of Trafalgar as a case of an exogenous global liquidity shock from Europe’s loss of Latin American silver. The study links the silver shortage to bank failures, a sharp contraction in money and credit, and the end of Latin American silver’s dominance as the main international safe asset, highlighting how the Banque de France’s aggressive hoarding of specie amplified the squeeze. It concludes that a safe asset’s status depends on both resilient supply and the credibility of its issuer.
ResearchFinancial stability and systemic riskMarket risk and volatility
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2026-05-13•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has announced four measures to upgrade the compulsory motor insurance system, focusing on real-time data reporting, digital policy delivery, alignment of cover with annual vehicle tax periods, and expanded road safety initiatives. Insurers are expected to achieve 100% real-time submission of underwriting data to the CMIS system, make e-Policies the primary delivery channel, and comply with forthcoming registrar orders on cancellation and cover periods.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-13•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority has published its 2026 report on fit and proper assessment practice for board members, executive managers and key function holders at financial firms, based on assessments made in 2025. The report explains the authority’s holistic, case-by-case approach across different firm types and uses anonymised examples to illustrate when conditional approvals may be granted, including the need for concrete, measurable and time-limited conditions to address competence or experience gaps.
Policy & regulationGuidance & interpretationFitness and propriety
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2026-05-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on the eighth congress of the Vietnam Banks Association for the 2026–2031 term, which elected a new 15-member council chaired by Tran Minh Binh of VietinBank and approved the association’s operating direction. The agenda focuses on strengthening the association’s intermediary role with state authorities, expanding policy consultation and legal feedback, supporting members in resolving operational difficulties, and enhancing training and international cooperation, priorities broadly endorsed by Standing Deputy Governor Doan Thai Son.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam met with Visa’s Chief Executive Officer to seek continued cooperation on payment innovation and security in support of Vietnam’s digital transformation and growing cashless payments. The central bank highlighted that 88 percent of adults now have bank accounts and asked Visa to work with it and local credit institutions on new payment technologies, product development and stronger controls against fraud, money laundering and high-tech crime, with Visa committing ongoing support.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported that the Vietnam Banking Trade Union has launched the banking sector’s 2026 Month of Action on Occupational Safety and Hygiene and Workers’ Month, focused on improving safety management in the digital era and promoting worker innovation. Deputy Governor Pham Tien Dung urged banking units to strengthen workplace safety, employee dialogue, welfare and compliance oversight, and to encourage operational and digital initiatives, while the union supported seriously ill workers and signed cooperation agreements on member welfare benefits.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported that Deputy Governor Nguyen Ngoc Canh expressed support for the International Bank for Economic Cooperation’s 2027-2031 strategic direction and its development into a specialised international trade finance institution serving member countries. He positively assessed IBEC’s 2024-2026 strategy implementation and urged continued initiatives to promote economic and trade cooperation among member states, while IBEC confirmed it will focus resources on implementing its 2027-2031 strategy.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority has imposed a EUR 115,000 penalty on Pareto Securities Ltd for significant transaction reporting failures that undermined market abuse surveillance and monitoring. The authority identified unreported transactions over 71 days in 2024 and 20 days in 2025, as well as 13 transactions reported exceptionally many times between June 2023 and May 2025, most submitted more than 300 times. The penalty, payable to the State, reflects an overall assessment of the omissions, with Pareto Securities' cooperation treated as a mitigating factor, and the decision remains open to appeal.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-13•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism has issued three instruments to standardise and strengthen AML/CFT information flows between financial intelligence units, the Authority and the European Public Prosecutor’s Office. Two instruments harmonise formats and require machine-readable, secure-channel reporting to the European Public Prosecutor’s Office, while a third introduces six common templates for FIU-to-FIU exchanges on FIU.net to improve information completeness, consistency and timeliness.
Policy & regulationRules & requirementsRegulatory reporting
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2026-05-13•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan’s Agency for Regulation and Development of the Financial Market has published its report on the 2025 risk-based Supervisory Review and Evaluation Process for the banking sector, resulting in capital supervisory add-ons ranging from 0% to 4.5%. All banks remained sufficiently capitalised and continued to meet minimum prudential requirements after these add-ons, following an assessment covering corporate governance, internal controls, risk management systems, and system-wide trends and risks.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-05-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has revoked the banking operations licence of microcredit fund Madadgor-D under the law on the liquidation of credit organisations. It has instructed the fund’s authorised body to establish a liquidation commission and conduct its voluntary liquidation in line with national legal requirements.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Mauritius•Bank of Mauritius
The Bank of Mauritius has issued a scam alert warning of fraudulent emails and social media messages impersonating banks, financial institutions, public and private entities, or individuals, seeking to induce recipients to transfer funds or make payments for purported prizes, rewards, administrative processes or financial support. The central bank urges the public not to respond to unsolicited communications without prior verification and to report suspected scams to the Police and relevant authorities, including the Bank of Mauritius.
SupervisionAlertsFraud and scams
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2026-05-13•Albania•Bank of Albania
The Bank of Albania published remarks by Governor Gent Sejko at the signing of a memorandum of understanding under the National Initiative for Financing Micro, Small and Medium-Sized Enterprises and Farmers, establishing an information exchange framework between public institutions and banks to improve SME and farmer access to credit. Sejko highlighted strong credit growth, including ALL 907 billion in private sector credit as of March 2026 and ALL 423 billion in new credit in 2025, but noted persistent financing constraints for smaller businesses. He referenced the Bank’s SME Financing Programme and the Government’s Sovereign Guarantee Scheme for agriculture, urging banks to increase SME focus without weakening prudential standards.
Policy & regulationCooperationSME financing
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2026-05-13•Austria•Austrian National Bank (OeNB)
The Austrian National Bank reported a 2025 current account surplus of EUR 9.5 billion (1.9% of GDP) on total trade in goods and services of about EUR 554 billion, supported mainly by tourism and a positive goods trade contribution. Tourism generated a EUR 9.7 billion travel surplus, and Austria’s net foreign asset position reached a record EUR 135 billion, driven by valuation gains on foreign financial investments. For 2026, the current account surplus is expected to narrow by about 0.75 percentage points of GDP due to higher energy prices linked to the war in the Middle East and the closure of the Strait of Hormuz.
Data & statisticsBalance of payments and other external statistics
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2026-05-13•Albania•Ministry of Finance (Albania)
The Ministry of Finance of Albania has launched the “Double Your Entrepreneurship” National Financing Programme for small and medium-sized enterprises with the Bank of Albania and domestic banks, aimed at expanding SME access to finance in underfinanced sectors and supporting technological, digital and energy efficiency investments. The programme will be supported by a EUR 250 million low-interest credit line, a sovereign guarantee of about EUR 30 million to be gradually increased, and government grants to help SMEs prepare business plans and investment projects.
Policy & regulationImplementation, projects & pilotsSME financing
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2026-05-13•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision is advancing its “next-level supervision” simplification agenda, including faster handling of lower-risk cases, more proportionate supervision for smaller banks, streamlined internal model and fit and proper processes, and a review of supervisory guides to clarify their non-binding status. Vice-Chair Frank Elderson called for treating the euro area as a single jurisdiction and further progress on banking union, and noted that supervisors are following up on banks’ private credit risk management and cyber resilience, with expectations aligned to the Digital Operational Resilience Act.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2026-05-13•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision published an interview with Supervisory Board Chair Claudia Buch, who said euro area banks remain broadly resilient, supported by stronger capital and liquidity, improved profitability and a decline in non-performing loans to around 2% from 7.5% in 2015. She highlighted priorities including resilience to macroeconomic, geopolitical, climate and environmental risks, operational resilience to cyber risk, and enhanced assessment of banks’ exposure to private credit and other non-bank finance, alongside new stress tests. Buch also outlined an overhaul of the Supervisory Review and Evaluation Process and related procedures, aiming for a more efficient, risk-based multi-year approach and clearer, more proportionate supervisory guidance by 2026.
SupervisionSupervision approach, priorities & toolkitCapital adequacyLiquidity riskPrudential risks
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2026-05-13•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has launched a supervisory review into how consumer investment firms support bereaved customers, covering advisers, platforms, wealth managers and other firms that manage or administer investments. The review will assess the end-to-end customer journey, including communications, treatment of vulnerable customers, service standards and fee handling, and will draw on findings from previous retail banking and insurance reviews highlighting unclear processes, repeated information requests and avoidable delays.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-13•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has appointed Simon Walls as executive director of markets and Johan Sekora as chief operating officer, making both roles permanent. Walls will continue to lead work on wholesale markets, while Sekora, joining from SEB, will support the regulator’s strategy and operations, bringing experience in financial crime prevention and the use of data and artificial intelligence.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-13•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank has published new statistics on bank lending to non-financial companies in the Netherlands, showing that small and medium-sized enterprises account for just under half of the EUR 340 billion outstanding as of March 2026 and pay higher average interest rates than non-SME companies. Lending is concentrated in a few sectors, led by real estate at EUR 149 billion, with average business interest rates broadly stable at 3.4 percent over the past 12 months. De Nederlandsche Bank has also revised its sectoral lending table to a monthly frequency, aligned with Eurostat’s new industry classification and based on combined data from De Nederlandsche Bank and Statistics Netherlands.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-13•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank announced that its president, Olaf Sleijpen, has been appointed chair of the Network for Greening the Financial System from 1 July 2026 for a two-year term, succeeding Sabine Mauderer after unanimous NGFS member approval. Sleijpen highlighted the challenge of translating climate and nature risks into supervisory risk assessments, while the release credits Mauderer with expanding the NGFS globally and advancing integration of climate, adaptation and nature into financial risk management.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-13•Indonesia•OJK
The Indonesia Financial Services Authority published remarks from its Chief Executive of Banking Supervision stressing that sustainable credit growth requires legal certainty for banks, including a shared understanding of how the business judgment rule applies in criminal cases involving non-performing loans. At a banking forum, Supreme Court and Attorney General’s Office representatives outlined conditions under which the rule protects lending decisions taken in good faith, with prudence, proper procedures and no conflicts of interest, and emphasized that compliant business failures should not be criminalized. Speakers also called for uniform legal interpretation and for criminal enforcement to remain a last resort.
Policy & regulationGuidance & interpretationCredit riskSupervision process and methodologies
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2026-05-13•Malta•Central Bank of Malta
The Central Bank of Malta reported that annual real GDP growth accelerated to 6.4% in the fourth quarter of 2025, while inflation reached 2.5% and the labor market remained tight. The four-quarter fiscal deficit narrowed to 2.2% of GDP, public debt stood at 46.4% and the current account surplus reached 8.6% of GDP.
ResearchEconomic data and developments
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2026-05-13•Latvia•Ministry of Finance (Latvia)
Latvia’s Ministry of Finance and the Bank of Latvia have submitted 13 draft laws to transfer registration, licensing and supervision of non-bank consumer lenders and credit intermediaries, plus financial consumer protection, from the Consumer Rights Protection Centre to the Bank of Latvia. Centred on amendments to the Consumer Rights Protection Law, the reform would consolidate supervisory and consumer protection functions, extend the Bank’s remit to unfair commercial practices and advertising by financial market participants, and align related laws, with a phased transition from 2027 that has drawn objections from the Ministry of Economics, the Fintech Latvia Association and some consumer lenders.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-13•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy reported on a field visit by the Minister of Economy and Tourism to Dubai’s Gold Souk to review application of anti-money laundering, counter-terrorist financing and proliferation financing rules in the gold sector, supervised as a designated non-financial business and profession. The ministry reiterated the regulatory framework, including a federal policy, the UAE Good Delivery Standard and responsible sourcing due diligence rules, and highlighted supporting measures such as a bullion market committee, trader database, federal gold trading platform and technical assistance.
SupervisionReviews, inspections & stress testsOther
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2026-05-13•Latvia•Central Bank of Latvia
The Central Bank of Latvia’s Supervision Committee has granted SIA Paybis Europe a crypto-asset services licence and a separate payment institution licence, making it the first crypto-asset service provider in Latvia with simultaneous payment services authorisation and the third firm licensed under the EU Markets in Crypto-Assets Regulation. The crypto-asset licence covers custody, exchange, execution of orders, advice and transfer services, while the payment institution licence permits execution of payments, including transfers to payment accounts. Under MiCA, authorisation in one EU member state enables cross-border provision of services across the EU via a notification mechanism.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Latvia•Central Bank of Latvia
The Council of the Central Bank of Latvia has approved the bank’s 2025 annual report, showing total recognised gains of EUR 332 million (up from EUR 214 million), a 35% increase in capital and reserves to EUR 1.275 billion, and EUR 56 million paid to the state budget, with an unqualified audit opinion from SIA KPMG Baltics. The report highlights measures to enhance payment resilience and cash availability, support mortgage refinancing and lending, open the payment system to payment and electronic money institutions, and adjust pension and credit union frameworks, with financial service accessibility remaining a priority for 2026.
Institutional developmentGovernanceAuditing
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2026-05-13•Russia•Central Bank of Russia
The Central Bank of Russia has approved a revised basic standard for microfinance organisations that bans pre-ticked consent boxes for additional services and requires full disclosure of such services, including the right to refuse and the impact on microloan terms. The standard also prohibits using visual techniques to highlight favourable terms while obscuring others and updates requirements on handling consumer requests, information on agreements and risks, and debt recovery practices.
Policy & regulationRules & requirementsConsumer and investor protection
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2026-05-13•Global•Network for Greening the Financial System
The Network for Greening the Financial System has appointed Olaf Sleijpen, president of De Nederlandsche Bank, as its new chair from 1 July, succeeding Sabine Mauderer, first deputy governor of the Deutsche Bundesbank. The network highlighted Mauderer’s four-and-a-half-year leadership, during which membership expanded to 152 institutions and work advanced on integrating climate, adaptation and nature considerations into financial risk management.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-13•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority, together with the European Securities and Markets Authority, has launched a mandatory survey for supervised securities firms to assess preparations for the European Union’s move from T+2 to T+1 securities settlement on 11 October 2027. The survey aims to gauge firms’ progress, identify readiness gaps and support the authority’s supervisory monitoring of risks, with the national questionnaire integrated into ESMA’s to allow a single submission.
SupervisionRisk monitoring & watch pointsRegulatory burden
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2026-05-13•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission obtained a Court of First Instance order disqualifying former Qunxing Paper Holdings financial controller and company secretary Poon Tsz Hang for two years over failures related to the company’s false and misleading disclosures, and requiring him to pay legal costs. The court found Qunxing materially overstated turnover and understated bank borrowings in its 2007 IPO prospectus and later financial statements, and that Poon failed in his responsibilities. The proceedings, commenced in September 2019 under section 214 of the Securities and Futures Ordinance, followed earlier 2018 court orders requiring compensation to investors.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-05-13•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has published an irrevocable direction to Euronext Amsterdam N.V. after finding that conditions in its new settlement model breached Central Securities Depositories Regulation requirements for non-discriminatory, transparent access for central securities depositories (CSDs) to transaction flows. The direction required Euronext to withdraw three conditions restricting certain CSDs’ access, confirm continued access for existing CSDs and grant access to others that had requested it, which Euronext has done. The AFM will continue to monitor compliance and focus on fair, transparent, non-discriminatory access for CSDs, including for new access requests.
EnforcementInvestigations & enforcement actionsOther
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2026-05-13•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission has ordered a minimum 90-day grace period for specified payments and expiring coverage during the national energy emergency, alongside three months of relief for loan repayments. Regulated entities also receive a 30-day extension for reportorial requirements covering April through June without fines or penalties.
Policy & regulationRules & requirementsConsumer and investor protectionClaims managementRegulatory reporting
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2026-05-13•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission ordered Vigattin Insurance and Antz Insurance to cease unauthorized insurance agency activities. It also suspended Antz Insurance’s licenses and required both businesses to pay penalties and return compensation from those activities, while leaving open further investigation under consumer protection law.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityComplianceConsumer and investor protection
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2026-05-13•Estonia•Central Bank of Estonia
The Central Bank of Estonia’s latest Financial Stability Review finds the financial sector remains generally sound, supported by strong capitalisation and liquidity, but notes heightened risks from geopolitical tensions and greater reliance on international bond markets. It highlights lending-related vulnerabilities, including around 10% annual growth in real estate and construction lending and housing loans, rising commercial real estate vacancy, elevated debt-funded housing transactions, and rapid lending growth in Latvia and Lithuania. The countercyclical capital buffer is maintained at 1.5%, with a possible reduction later this year if lending risks ease.
ResearchCredit riskFinancial stability and systemic risk
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2026-05-13•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Ministry of Finance of Uzbekistan reported on talks with the United Kingdom focused on expanding bilateral cooperation on economic reforms, macroeconomic and financial stability, privatisation and access to international capital markets. The parties agreed to deepen collaboration on the Green Inclusive Growth Fund, small and medium-sized enterprises, venture capital, innovative start-ups, private sector development, and logistics and transport infrastructure including high-speed rail and toll roads.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Israel•Bank of Israel
The Bank of Israel’s 2025 progress report on its Digital Shekel Project concludes that the expected benefits of a digital shekel would outweigh the costs for the Bank, system participants and the wider economy. The report outlines a proposed regulatory structure, assesses a multipurpose retail and wholesale central bank digital currency model, and summarizes technology consultations and stakeholder feedback. In 2026 the project will prioritize features, begin detailed design, prepare an issuance roadmap and submit a recommendation to the Governor on whether to issue a digital shekel.
Policy & regulationImplementation, projects & pilotsCBDC
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published a report finding that an accounting firm had appointed an engagement-responsible accountant who no longer held approval as a state-authorized accountant. The authority required the firm to remove the individual from engagement responsibility, review its systems and assess client impact, and closed the case after the firm implemented corrective measures, including strengthened quality assurance and quarterly checks of approval status.
SupervisionInterventionsAuditing
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published an inspection report on the Pension Fund for the Health Enterprises in the Capital Area, issuing supervisory remarks on governance, risk management, capital planning and the insurance framework. It expects the board to tighten suitability assessments, reinforce internal audit independence, clarify bylaws on nomination and capital contributions, and strengthen the own risk assessment, risk appetite, stress testing, insurance strategy, limits and interest guarantee premium principles. The authority will follow up on a new tariff notification for the interest guarantee premium and has requested board minutes and auditor notification.
SupervisionReviews, inspections & stress testsRisk managementCorporate governance
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has revoked the approval of a state-authorised accountant after a final court conviction for complicity in grossly negligent tax fraud, finding the individual no longer meets statutory conditions and that withdrawal is necessary to preserve trust in the profession. The conviction concerned unrecorded cash payments for cleaning services that concealed taxable turnover and income, leading to evaded VAT and tax of NOK 36,308, and resulted in a suspended 30-day prison sentence, a NOK 20,000 fine and confiscation of NOK 28,279. The individual may no longer use the state-authorised accountant title or hold key roles in accounting firms.
SupervisionAuthorisations & approvalsAccounting and financial reporting
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2026-05-13•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority has licensed United Capital Financial Services Rwanda Ltd as an investment bank and positioned Kigali as the firm’s East and Central African hub. The license covers a broad range of investment banking and capital markets services, including corporate finance, infrastructure finance, structured finance, trusteeship and advisory work.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Australia•Department of Treasury (Australia)
The Australian Treasury has released an exposure draft of the Reserve Bank Regulations 2026 to replace the 2016 regulations, preserving secrecy declarations for Reserve Bank of Australia board members and the framework for disclosing protected information to prescribed bodies. The main change adds the Department of Home Affairs, the Australian Office of Financial Management and the Australian Signals Directorate to the list of prescribed bodies, linked to cyber security incident response and cooperation on Australian Government securities markets. The new regulations are scheduled to commence on 1 October 2026 and sunset on 1 October 2036.
Policy & regulationRules & requirementsOther
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2026-05-13•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force’s fourth enhanced follow-up report says Grenada has improved its technical compliance with the FATF standards since its 2022 mutual evaluation. It re-rated 11 recommendations, including upgrades on terrorist financing and targeted financial sanctions, leaving Grenada compliant or largely compliant on 31 of 40 recommendations. The report addresses technical compliance only, not effectiveness.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2026-05-13•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia has opened investigations into the transfer of COP 8.7 trillion in pension resources from private pension fund administrators to Colpensiones for 32,803 members who switched from the private to the public regime after securing pension rights. The review, which includes 24,331 members already receiving pensions from Colpensiones, follows the suspension of Decree 415 of 2026 by the Council of State and aims to support decisions to protect financial consumers and safeguard financial stability.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-13•Middle East•Arab Monetary Fund
The Arab Monetary Fund has launched its fifth remote workshop on enhancing the efficiency of public debt management in Arab countries, bringing together public debt directors, senior finance ministry officials and international institutions. The workshop will examine recent developments, challenges and international best practices in public debt management to support fiscal sustainability and economic stability, and is part of the Fund’s broader efforts to strengthen institutional capacity and policy dialogue.
Policy & regulationImplementation, projects & pilots
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2026-05-13•South Korea•Bank of Korea
The Bank of Korea published its March 2026 monetary and liquidity aggregates, reporting further month-on-month expansion in key money measures, with seasonally adjusted Narrow Money (M1) up 0.7%, Broad Money (M2) up 0.4% and Liquidity of Financial Institutions (Lf) up 0.5%, while Liquidity (L) fell 0.4%. In level terms, M1 reached KRW 1,368.7 trillion, M2 KRW 4,132.1 trillion, Lf KRW 6,194.1 trillion and L KRW 7,820.5 trillion, corresponding to year-on-year increases of 7.9%, 5.6%, 7.5% and 7.2% respectively.
Data & statisticsMonetary data
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2026-05-13•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service published December 2025 Korean Insurance Capital Standard ratios, showing modest quarter-on-quarter improvement, with the aggregate K-ICS ratio (with transitional measures) at 212.3% and the non-transitional ratio at 197.6%. Available capital rose by KRW9.3 trillion to KRW284.0 trillion, driven by net earnings and higher accumulated other comprehensive income, while required capital increased by KRW3.5 trillion to KRW133.8 trillion. Citing heightened financial market uncertainty linked to Middle East tensions, the authority said it will ensure insurers maintain sufficient capital buffers and press weaker firms to bolster high quality capital and risk management.
SupervisionRisk monitoring & watch pointsCapital adequacy
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2026-05-13•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission has approved revisions to Korea Exchange listing rules that tighten delisting standards for market capitalization, low share prices, capital impairment, and disclosure violations. Key changes include higher, phased market capitalization thresholds with longer recovery periods, new micro-cap delisting triggers for stocks trading below KRW1,000 and related limits on share consolidations, semi-annual capital impairment reviews, and lower disclosure demerit thresholds, with serious intentional breaches becoming standalone grounds for delisting. The new standards will be phased in from July 1, 2026, with a further market capitalization threshold increase from January 1, 2027.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-05-13•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye amended its circular on compulsory motor third-party liability insurance, setting June 2026 maximum premiums at 1.75% above May 2026 caps for each vehicle group and usage type. It also applied an additional 2% increase for taxis, certain minibuses, and buses with 18 or more seats, effective 1 June 2026.
Policy & regulationRules & requirementsOther
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2026-05-13•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic Pensions Superintendency (SIPEN) published remarks by the Superintendent of Pensions reviewing the system 25 years on, highlighting persistent savings gaps driven by labor informality and low contribution rates, and outlining the role of voluntary complementary pension plans. He noted that workers contribute for only 40% of the required periods, underscoring the need for mechanisms to guarantee a minimum pension and lifelong protection, and described the current total contribution rate of 9.97% as low by regional and international standards.
Financial literacy & education
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2026-05-13•Brazil•Central Bank of Brazil
The Central Bank of Brazil opened its 2026 Annual Conference with President Gabriel Galípolo stressing that repeated supply shocks have created a challenging environment for monetary policy but that the bank will not deviate from its inflation control mandate. He highlighted a gap between official inflation indicators and households’ perceived price changes, characterising current inflation as traditional but not necessarily demand-driven and warning against imprecise use of terms such as stagflation. The conference in Brasília covers macroeconomics, financial stability, financial intermediation and innovation, macroprudential regulation, the international economy and sustainability.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-05-13•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela and the Bank of Spain have agreed to restore technical and strategic relations after an eight-year interruption, setting a new bilateral roadmap focused on technical cooperation, data exchange and support for Venezuelan banks’ access to correspondent banking networks. The agreement was reached at a meeting in Tarragona during the first LatAm Economic Forum organised by the Bank of Spain, and the first remote technical session under the roadmap was held on 13 May with the Central Bank of Venezuela’s Economic Statistics team.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Uruguay•Ministry of Economy & Finance (Uruguay)
Uruguay’s Ministry of Economy and Finance outlined a policy agenda centred on a bill to strengthen and unify child transfer systems and a broader Competitiveness and Innovation bill to debureaucratize the economy, facilitate foreign trade and reshape competition and financial innovation frameworks. Measures include tax simplification for SMEs, stronger competition enforcement, regulatory sandboxes for fintech, updated investment fund rules, expanded financing for technology ventures and possible changes to retirement age. The ministry will also align with OECD and IMF work on regulatory and fiscal reforms and is preparing a 2026 agenda focused on infrastructure, energy, the financial system and greater trade openness.
Policy & regulationReform agendas & prioritiesOther
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2026-05-13•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission ruled on two settlement proposals in administrative sanctioning proceedings, rejecting an offer from Blue Tech Solutions EQI S.A. board chair Fábio Aylton Casal de Rey and accepting one from equity fund manager Rafael Nanni Trapé. Casal de Rey’s proposal was deemed inappropriate given the seriousness of alleged diligence failures, his prior history, limited procedural economy, and a previously rejected similar offer. Trapé agreed to fully reimburse affected fund unitholders, pay BRL 237,020.70 to the Commission, and accept a 12‑month suspension from portfolio management under CVM Resolution 21 for alleged fraudulent transactions in breach of CVM Resolution 62.
EnforcementInvestigations & enforcement actionsCorporate governance
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a floor speech by Ranking Member Elizabeth Warren urging senators to reject Kevin Warsh’s nomination to chair the Federal Reserve, calling it part of President Trump’s effort to influence the central bank. Warren cited alleged pressure on current Fed leadership, Warsh’s refusal to disclose the sources of more than USD 100 million in assets or address potential conflicts, and his record around the 2008 financial crisis, noting that all Committee Democrats opposed his nomination.
Institutional developmentLeadership change & appointmentsMonetary policy decisions and developments
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democrats on the U.S. Senate Banking Committee, led by Ranking Member Elizabeth Warren, have announced floor action to force 20 Senate votes on Joint Resolutions of Disapproval seeking to overturn Trump Administration Consumer Financial Protection Bureau rules across consumer finance areas. The resolutions, each sponsored by a Democratic senator, cover issues including medical debt, overdraft opt-in practices, buy now pay later lending, credit reporting, debt collection, remittance transfers, whistleblower protections, and protections for servicemembers and their dependents.
Policy & regulationRules & requirementsConsumer and investor protection
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren, ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Treasury Secretary Scott Bessent and SEC Chair Paul Atkins arguing that the Trump Administration’s deregulatory approach has heightened risks in the private credit market, increasing financial system vulnerability and threatening Americans’ retirement plans. She criticized limited oversight, including the absence of a requested Financial Stability Oversight Council stress test of private credit interconnectedness, and raised concerns that the SEC and Department of Labor are seeking to open 401(k) plans to private credit.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2026-05-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has released a consultation paper and draft licensing framework for locally incorporated Authorised Deposit-taking Institutions, including draft ADI Licensing Criteria and ADI Licensing Guidelines, to make the application process more transparent and efficient. The reforms build on APRA’s 2025 discussion paper and will implement Action 6 of the Council of Financial Regulators’ Review into Small and Medium-sized Banks when finalised in 2026, with submissions from the 2025 consultation also published.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-13•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has issued General Resolution 1139 to simplify and reorganise its anti-money laundering, terrorist financing and proliferation financing framework, extending obligations to Virtual Asset Service Providers. The resolution reduces information request forms from 19 to 10, refines reporting on beneficial owners, customer risk segmentation, transaction monitoring and politically exposed persons, and prohibits cash payments to and from clients except under a specific simplified tax regime, while allowing electronic cheques. It also clarifies evidentiary requirements for demonstrating suitability, integrity and solvency for CNV registration.
Policy & regulationRules & requirementsAML and CFT
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a statement from Chairman Tim Scott following the Senate’s confirmation of Kevin Warsh as Chair of the Federal Reserve Board of Governors, calling it an important step toward restoring confidence and credibility at the central bank. Scott linked the leadership change to the Federal Reserve’s impact on household costs and incomes and urged the central bank to focus on stable prices, maximum employment, and the American people over politics.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-12•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has published a list of initiatives by financial institution groups related to the Emerging Manager Promotion Program as part of the government’s policy plan to realize an asset management nation. The list covers measures by banks, insurance companies and other financial institutions to support funding for emerging asset managers, including those with short business histories, through public-private partnerships.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-12•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has updated its disclosure on initiatives by major financial institution groups under the government’s asset management policy, including the status of firms’ enhancement plans on investment capabilities, governance and systems. The update clarifies that to be included on the agency’s list, financial business operators must position asset management within their management strategy, publish their enhancement plan online and submit the prescribed report form to the agency.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2026-05-12•Albania•Ministry of Finance (Albania)
Albania’s Finance Minister Petrit Malaj told the Albania-Israel Cyber Security Summit that protecting public financial systems is a strategic national priority and reaffirmed the government’s commitment to strengthening the legal and institutional framework against money laundering and terrorist financing. He cited progress in modernising public finance administration through digitalisation, interoperability and efficiency, and stressed international cooperation, including using Israel’s cyber security and data protection experience, to build more secure and transparent financial systems.
Policy & regulationReform agendas & prioritiesCyber resilienceDomestic cooperation