National Bank of Georgia publishes interactive July 2025 money transfer statistics
The National Bank of Georgia released an interactive press release detailing money transfer statistics for July 2025, accessible on its website.
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People's Bank of China, National Financial Regulatory Administration and National Forestry and Grassland Administration set out 15 measures to scale up finance for high-quality forestry development
The People's Bank of China, with the National Financial Regulatory Administration and the National Forestry and Grassland Administration, announced 15 measures to boost financial support for high-quality forestry development. Initiatives include expanding forest rights-backed lending, broadening eligible collateral, and promoting private capital in reserve and storage services. The notice also emphasizes using structural monetary policy tools and developing a comprehensive forest insurance product system.
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Norway's Ministry of Finance notifies EU and EEA authorities of five systemically important institutions and related capital buffer requirements
Norway's Ministry of Finance has notified EU and EEA authorities of financial institutions deemed systemically important, requiring additional capital buffers. These include DNB Bank ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS, Sparebank 1 Sør-Norge ASA, and Sparebanken Norge. Approval by the EFTA States’ Standing Committee is needed due to the systemic risk buffer exceeding 5%, with formal decisions pending completion of the notification and approval process.
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Bank of the Lao hosts 50th ASEAN capital account liberalisation working committee meeting to review 2025 progress and set 2026 priorities
The Bank of the Lao hosted the 50th meeting on Capital Account Liberalization in Vientiane, focusing on capital account liberalization and cross-border finance priorities. Co-chaired by representatives from the Bank of the Lao and the Central Bank of the Philippines, discussions included the 2025 priority implementation plan, regional capital flow risks, and local currency use in cross-border transactions. Participants included ASEAN member states, the International Monetary Fund, and other regional institutions.
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Banking Agency of the Federation of Bosnia and Herzegovina publishes preliminary banking system data as of 30 June 2025
The Banking Agency of the Federation of Bosnia and Herzegovina released preliminary data on the performance of entities in the region's banking system as of 30 June 2025. Final data will be available in the quarterly report "Information on entities of the banking system of the Federation of Bosnia and Herzegovina."
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Central Bank of Belize clarifies no directive to reject mutilated 2025 banknotes and sets out exchange options
The Central Bank of Belize clarified that financial institutions have not been instructed to reject mutilated 2025 banknotes. Damaged notes can be exchanged at local banks, credit unions, or the Central Bank for assessment and replacement. The notice also warns that intentionally defacing currency is a criminal offence with a maximum fine of BZD 250.
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Hong Kong Securities and Futures Commission sets minimum custody standards for licensed virtual asset trading platforms
The Hong Kong Securities and Futures Commission (SFC) issued a circular to licensed virtual asset trading platforms outlining expectations for robust client asset custody, as part of the "ASPIRe" roadmap. This follows cybersecurity incidents and a review revealing deficiencies in platform resilience. The circular includes minimum standards and good practices, and references a public consultation on regulating virtual asset custodian services.
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Peru's Superintendence of Banking, Insurance and Private Pension Funds dissolves Coopac Aprocredi and outlines FSDC deposit insurance payout up to PEN 5,000
Peru's Superintendence of Banking, Insurance and Private Pension Funds (SBS) has ordered the dissolution of Cooperativa de Ahorro y Crédito APROCREDI LIMITADA, with deposits protected by the Cooperative Deposit Insurance Fund. Coverage is capped at PEN 5,000 per depositor, as per Law No. 30822 and SBS Resolution No. 5061-2008. Details on the collection of insured amounts will be announced shortly.
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Hong Kong Monetary Authority warns of fraudulent website impersonating Alipay Financial Services Hong Kong
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website linked to Alipay Financial Services (HK) Limited. The stored value facility licensee reported the case to the HKMA. The HKMA advises affected individuals to contact the relevant licensee and report to the Police or Anti-Deception Coordination Centre.
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Hong Kong Monetary Authority releases second-quarter 2025 credit card lending survey showing receivables down 2.5% to HKD 149.0 billion
The Hong Kong Monetary Authority released Q2 2025 credit card lending survey results, indicating a 2.5% decline in outstanding card receivables to HKD 149.0 billion. The delinquent and rescheduled ratio increased to 0.45%, and the charge-off ratio rose slightly to 0.64%, both remaining low.
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G20 South African Presidency promotes multi-stakeholder action to narrow natural catastrophe insurance protection gaps
The G20 South African Presidency, with the International Association of Insurance Supervisors and the World Bank Group, published a summary on widening natural catastrophe insurance protection gaps in emerging markets. The report urges coordinated action to address uninsured disaster losses, emphasizing public-private partnerships, pre-arranged disaster finance, and innovative solutions like parametric insurance. The IAIS and World Bank will continue providing guidance to narrow these gaps, as noted in the July G20 Communiqué.
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National Bank of Bulgaria publishes July 2025 statistics on banknotes and coins in circulation
The National Bank of Bulgaria released July 2025 data on banknotes and coins in circulation, available as dynamic series in its statistics section. An updated dissemination calendar is also provided.
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Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan clarifies when lenders may refer overdue debts to collectors under moratorium until 1 May 2026
The Agency for Regulation and Development of the Financial Market of Kazakhstan issued guidelines on transferring overdue debts to collection agencies, including a moratorium from 1 July 2024 to 1 May 2026 on assigning citizens’ credit claims to collectors. During this period, resolution options are limited to restructuring, waiving fines, or pre-trial recovery without transferring the claim. The explainer also outlines debtor rights and collector conduct requirements, including contact limits and prohibitions on harassment and misleading statements.
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Isle of Man Financial Services Authority de-registers R P Harker under the Designated Businesses regime effective 15 August 2025
The Isle of Man Financial Services Authority has de-registered R P Harker under the Designated Businesses (Registration & Oversight) Act 2015, effective 15 August 2025, in accordance with section 12(1)(b).
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Thailand Office of Insurance Commission obtains ISO/IEC 27001:2022 and ISO/IEC 27701:2019 certifications for its data centre and Insurance Bureau System
The Thailand Office of Insurance Commission has received ISO/IEC 27001:2022 and ISO/IEC 27701:2019 certifications for information security and personal data protection. These certifications cover core IT operations, including the Insurance Bureau System for life and non-life policyholder data, following an audit by Bureau Veritas Certification (Thailand).
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Brazilian Superintendence of Private Insurance launches an extended 45-day consultation on first draft rules for mutualist property protection operations
The Brazilian Superintendence of Private Insurance (SUSEP) issued Public Consultation Notice No. 2/2025 to gather feedback on its draft regulation for mutualist property protection operations, with a 45-day submission period. This draft aims to implement Complementary Law No. 213/2025, following extensive technical studies. SUSEP plans further consultations on insurance cooperatives, administrative sanctions, and specific rules for cargo carriers.
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Brazilian Superintendence of Private Insurance reopens 15-day consultation on draft rules for universal life insurance
The Brazilian Superintendence of Private Insurance (SUSEP) has initiated Public Consultation Notice No. 3/2025 on a draft resolution for Universal Life Insurance, aiming to replace the existing framework under Resolution No. 344/2016. The proposal incorporates feedback from a previous consultation and aligns with Law No. 15.040/2024, clarifying product classification and enhancing operational flexibility.
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National Bank of the Republic of Tajikistan holds talks with US Column Bank on opening direct correspondent accounts
The National Bank of the Republic of Tajikistan held a virtual meeting with US-based Column Bank to explore correspondent banking relationships and joint investment projects. Supported by Tajikistan’s Embassy in the US and the US Business Council, discussions emphasized compliance with international standards, including anti-money laundering measures. Both parties aim to enhance banking-sector cooperation between Tajikistan and the United States.
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National Bank of the Republic of Tajikistan holds Isfara financial literacy festival to support the 2022–2026 National Financial Inclusion Strategy
The National Bank of the Republic of Tajikistan highlighted a financial literacy festival in Isfara as part of the 2022–2026 National Financial Inclusion Strategy, aiming to expand financial service access and improve literacy. The initiative involves recurring festivals and outreach, focusing on remote areas and target groups like students, employees, women, and migrants. Activities included discussions on non-cash payments, fraud prevention, savings, and property insurance.
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South African Reserve Bank announces 15 G20 TechSprint 2025 finalists and sets mid-October prototype deadline
The South African Reserve Bank announced 15 finalists for the G20 TechSprint 2025, an innovation challenge with the Bank for International Settlements Innovation Hub. The competition addresses privacy-preserving digital identity, credit data portability, and fraud mitigation in fast payment systems. Finalists will develop prototypes by mid-October, with winners announced in November before the G20 Summit.
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Central Bank of Brunei Darussalam updates its Alert List to include Easy Loan BDCB and related names
The Central Bank of Brunei Darussalam (BDCB) updated its Alert List, adding entities perceived as licensed but not authorized by BDCB. The bank advised the public to engage only with licensed financial institutions and warned against unlicensed providers, emphasizing the lack of consumer protection for dealings with such entities.
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Central Bank of the Philippines reports June cash remittances up 3.7% to USD 2.99 billion led by land-based overseas Filipinos
The Central Bank of the Philippines reported a 3.7% year-on-year increase in cash remittances to USD 2.99 billion in June 2025, with land-based overseas Filipinos contributing USD 2.43 billion. Cumulative cash remittances for January to June 2025 rose 3.1% to USD 16.75 billion, with the United States as the top source, followed by Singapore and Saudi Arabia.
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National Bank of Serbia publishes Q2 2025 lending trends showing 10.8% annual loan growth and lower borrowing costs
The National Bank of Serbia's Q2 2025 lending report shows continued double-digit growth in domestic lending to the non-monetary sector, driven by lower interest rates and relaxed lending standards. Total domestic loans grew 10.8% year-on-year in June, with household loans increasing by 14.0% and corporate loans by 7.1%. Asset quality remained strong with low non-performing loans, and banks anticipate further easing of standards and increased loan demand in Q3.
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Vietnam State Securities Commission opens online tender for one-year renewal of IT security software licences and support
The Vietnam State Securities Commission has invited bids for a procurement package to renew and update cybersecurity software licenses, including extended warranty and technical support, as part of its 2025 IT budget. The tender will be conducted online through Vietnam's National e-Procurement System, with a contract period of 455 days. The bid security is set at VND 125,000,000.
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Guernsey Financial Services Commission updates Democratic Republic of the Congo sanctions designations by removing Alex Kande Mupompa from the consolidated list
The Guernsey Financial Services Commission announced the removal of Alex Kande MUPOMPA from the UK Democratic Republic of the Congo sanctions regime list, lifting the asset freeze in Guernsey. This update reflects changes under the Democratic Republic of the Congo (Sanctions) (EU Exit) Regulations 2019, implemented locally through the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020.
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Guernsey Financial Services Commission clarifies the “established place of business” exemption for company directors under the fiduciaries regime
The Guernsey Financial Services Commission clarified criteria for determining if a company has an "established place of business" in the Bailiwick of Guernsey, impacting the statutory exemption for director registration or licensing. The exemption applies only if the company has premises and staff in the Bailiwick and the director does not engage in regulated activities. Having just a registered office or statutory documents in Guernsey is insufficient.
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Guernsey Financial Services Commission warns of phishing emails impersonating the Commission Secretary
The Guernsey Financial Services Commission alerted about a phishing attempt impersonating Commission Secretary Alice Joy using a fraudulent domain. It emphasized official emails come from domains ending in “gfsc.gg” and advised caution with suspicious emails. The Commission reminded firms of the Cyber Rules and Guidance, 2021, stressing vigilance, cyber security measures, timely IT updates, and reporting significant cyber events.
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National Reserve Bank of Tonga calls for feedback on Payment System and Services Bill 2025 to regulate real-time digital payments and e-money
The National Reserve Bank of Tonga seeks feedback on the proposed Payment System and Services Bill 2025, aiming to establish a legal framework for digital and real-time payment systems and enhance the central bank's oversight. The Bill outlines the Reserve Bank's expanded powers, introduces a licensing regime for payment service providers, and includes protections for participants and consumers, with feedback due via designated channels.
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Philippine Securities and Exchange Commission consults on draft rules clarifying notices and confirmations for exempt transactions under the Securities Regulation Code
The Philippine Securities and Exchange Commission released a draft memorandum circular for public comment, clarifying procedures for claiming or confirming exemptions from securities registration under Section 10 of the Securities Regulation Code. The draft amends Rules 10.1, 10.2, and 10.3, introducing SEC Form 10.1 for exemption notices and applications, with a 0.1% fee for confirmation applications.
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Financial Services Regulatory Authority of Ontario imposes CAD 30,000 penalty and licence conditions on mortgage agent Viviana Prentice
The Financial Services Regulatory Authority of Ontario imposed a CAD 30,000 penalty and added conditions to Viviana Prentice's mortgage agent licence. This enforcement action follows a settlement related to a breach of the Mortgage Brokerages, Lenders and Administrators Act, 2006, where Prentice received remuneration from a non-brokerage source, violating Ontario Regulation 187/08.
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Thailand Securities & Exchange Commission orders Charan Insurance to rectify and resubmit reviewed Q1 2025 interim financial statements after auditor disclaimer tied to TFRS 17 adoption
The Thailand Securities & Exchange Commission has directed Charan Insurance Public Company Limited to collaborate with its auditor to rectify and review its Q1 2025 interim financial statements, following an auditor's disclaimer due to insufficient audit evidence related to the adoption of Thai Financial Reporting Standard 17. CHARAN must submit the revised statements to the SEC and disclose them publicly via SETLink by 15 September 2025.
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U.S. Senate Committee on Banking, Housing and Urban Affairs' Warren criticizes D.C. Circuit panel ruling on CFPB shutdown and points to pending full-court review
Senator Elizabeth Warren criticized a U.S. Court of Appeals for the D.C. Circuit panel decision on the Trump Administration's attempt to dismantle the Consumer Financial Protection Bureau (CFPB), arguing it failed to hold officials accountable. She highlighted Judge Pillard's dissent and the CFPB's success in returning over USD 21 billion to defrauded Americans. The decision is not yet in effect, pending potential review by the full D.C. Circuit.
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Central Bank of Russia reports accelerated growth in individual investment accounts and increased investor preference for bonds in 2025 Q2
The Central Bank of Russia reported a significant increase in individual investment accounts (IIAs) in 2025 Q2, with numbers rising by nearly 94,000 to over 6.2 million. Net inflows into brokerage accounts reached RUB 39 billion, and total assets in IIAs grew to RUB 680 billion, driven by account replenishments and bond revaluations. Debt securities comprised 39% of portfolios, while Russian shares decreased to 33%, the lowest since 2023 Q2.
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Central Bank of Russia reports 15.96% average maximum retail deposit rate among the top 10 banks in early August 2025
The Central Bank of Russia released its August 2025 monitoring results for maximum interest rates on Russian ruble household deposits from the top 10 credit institutions. The average maximum rate for early August was 15.96%, with rates varying by maturity: 15.48% for up to 90 days, 15.52% for 91–180 days, 14.59% for 181 days to one year, and 13.25% for over one year. The monitoring excludes special conditions and non-standard deposit products.
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Central Bank of Iceland survey shows markets expect slightly higher near-term inflation and a 7.5% key rate through 2025
The Central Bank of Iceland's August 2025 survey of market agents revealed slightly higher inflation expectations and a consensus that the policy rate will remain at 7.5% for the rest of the year, contrasting with May's anticipated rate cuts. The survey also indicated expectations for the króna to depreciate and a shift in views on monetary policy stance, with fewer respondents considering it too tight.
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United States Federal Reserve Board to sunset novel activities supervision program and withdraw 2023 supervisory letter
The Federal Reserve Board will discontinue its novel activities supervision program, integrating oversight of banks' crypto and fintech activities into the standard supervisory process. This includes withdrawing the 2023 supervisory letter that established the program. The Board has enhanced its understanding of these activities and related risks, which will now be part of regular supervision.
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Commodity Futures Trading Commission launches internal review of staff time and attendance compliance following Inspector General findings
The Commodity Futures Trading Commission (CFTC) is reviewing staff compliance with time and attendance requirements, prompted by an Office of Inspector General report and a Congressional inquiry. The review, covering January 1, 2020, to the present, will assess telework, return-to-office, and reasonable accommodation compliance, alongside auditing time and attendance records. This follows an investigation into a CFTC risk analyst that revealed timekeeping misconduct and other violations.
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National Commission for Financial Markets warns of WhatsApp and Telegram crypto investment fraud groups
The National Commission for Financial Markets (CNPF) warned of a fraudulent scheme on WhatsApp and Telegram involving fake investment and crypto trading opportunities. The scheme uses bots and false experts to lure victims into transferring funds to fictitious accounts, with a pyramid-like structure reliant on recruitment. CNPF advises verifying firm authorisation, avoiding sharing personal information on messaging apps, and reporting suspicious activities.
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Moldova's National Commission for Financial Markets approves draft EU-aligned rules on shareholder identification and communications
Moldova's National Commission for Financial Markets published Board decisions, including a draft regulation to align shareholder identification and rights facilitation with EU standards. It targets joint-stock companies and intermediaries, mandating timely corporate information transmission. Additionally, the Board approved the reorganisation of Joint-Stock Company ACCENT-INVESTMENT and adjustments to GLICERIA's securities issuance and OCN MOGO LOANS' credit contracts.
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Office of the Comptroller of the Currency updates Bank Accounting Advisory Series with clarifications and removal of outdated questions
The Office of the Comptroller of the Currency released its annual update to the Bank Accounting Advisory Series, revising content for clarity and removing outdated questions. The update maintains previous conclusions and interpretations by the Office of the Chief Accountant. The BAAS reflects interpretations of generally accepted accounting principles and regulatory guidance, not OCC rules or regulations.
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China Securities Regulatory Commission approves Shanghai Futures Exchange registration of offset printing paper futures and options
The China Securities Regulatory Commission has approved the Shanghai Futures Exchange's registration of offset printing paper futures and options. The Commission will oversee the exchange's preparations to ensure a smooth launch and stable operation.
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China Securities Regulatory Commission approves registration of fuel oil, petroleum asphalt and pulp options at Shanghai Futures Exchange
The China Securities Regulatory Commission has approved the Shanghai Futures Exchange's registration of options on fuel oil, petroleum asphalt, and pulp. The exchange must complete preparatory work to ensure a smooth launch and stable operation.
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China Securities Regulatory Commission publishes accounting regulatory report on 2024 annual reports highlighting 192 A-share issuers with non-standard audit opinions
The China Securities Regulatory Commission (CSRC) noted that while compliance with Chinese Accounting Standards among A-share listed companies was generally sound, some issuers made accounting or disclosure errors. Of the 5,413 companies that disclosed their 2024 annual reports, 192 received non-standard audit opinions. The CSRC plans to enhance oversight, issue practical guidance on complex accounting topics, and urge companies and intermediaries to rectify errors.
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China Banking and Insurance Regulatory Commission releases Q2 2025 indicators showing CNY 467.3tn in banking assets and a 1.49% NPL ratio
The China Banking and Insurance Regulatory Commission reported continued balance-sheet growth and stable credit quality in the banking and insurance sectors for Q2 and H1 2025. Total banking-sector assets reached CNY 467.3tn, with large commercial banks holding a 43.7% share. Insurance companies' assets rose to CNY 39.2tn, while commercial banks maintained a non-performing loan ratio of 1.49% and a capital adequacy ratio of 15.58%.
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Caribbean Financial Action Task Force joins Eastern Caribbean judiciary training on AML CFT and proliferation financing, highlighting mutual evaluation and asset recovery expectations
The Caribbean Financial Action Task Force said it participated in AML/CFT/CPF training for judges and magistrates from the Eastern Caribbean Supreme Court member countries. Its presentation focused on the fifth round mutual evaluation cycle, FATF methodology changes and the judiciary’s role in sanctions, international cooperation and asset recovery. The sessions also examined weaknesses identified in mutual evaluations and newer asset recovery requirements.
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Central Bank of Taiwan releases July 2025 RMB banking overview reporting RMB 124.34 billion in deposits and RMB 445 billion in settlements
The Central Bank of Taiwan released its July 2025 overview of renminbi (RMB) business, noting 65 domestic and 56 offshore banking units engaged in RMB activities. As of end-June 2025, RMB deposits increased to RMB 124.34 billion, while remittances decreased to RMB 148.93 billion. The Taipei Branch of the Bank of China processed RMB 445 billion in settlements for July 2025.
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Angola Capital Markets Commission runs Luanda-Bengo Special Economic Zone workshop on using capital markets to finance companies
The Angola Capital Markets Commission and Luanda-Bengo Special Economic Zone held a workshop to enhance corporate financing understanding through capital markets. Part of the Capital Markets Development Programme, it featured insights from specialists and aimed to improve financial literacy and transparency among Special Economic Zone businesses. The Commission is committed to ongoing training to support Angola's capital market development.
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Dominican Republic's Pensions Superintendency joins MAP and DGJP to standardise public servants’ entry to the pre-pension payroll and mandate a 30-working-day rollout
The Dominican Republic's Pensions Superintendency (SIPEN), Ministry of Public Administration (MAP), and General Directorate of Pensions and Retirements (DGJP) issued a resolution standardizing public sector pre-pension payroll processes. It mandates minimum requirements, a unified administrative flow, and documentation for pension applications, with HR departments maintaining service-time records and implementing IT alerts. Pension processing begins only upon filing required documents, and conditions for automatic retirement under Law No. 379-81 are outlined.
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Financial Superintendence of Colombia flags shallow capital markets and weak savings culture as key hurdles to development
The Financial Superintendence of Colombia shared remarks by Juanita Villaveces at Asobancaria’s Capital Markets Symposium, highlighting challenges in deepening Colombia's capital market. Villaveces identified limited market depth and a cultural preference for credit over securities as key obstacles. The panel also discussed regional stock exchange integration with industry experts.
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Belgium Financial Services and Markets Authority warns against Cyber Justice, GL Markets and Money Recovery over suspected recovery room fraud
The Belgium Financial Services and Markets Authority (FSMA) warned about "recovery room fraud," where scammers target investment fraud victims by offering to recover losses for additional payments or account access. Suspected operators include Cyber Justice, GL Markets, and Money Recovery, using tactics like demanding upfront fees and requesting remote desktop access. The FSMA advised victims to report to local police and treat unsolicited recovery offers and requests for fees or computer access as red flags.
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Kuwait Capital Markets Authority submits report to Attorney General over listed company’s failure to pay final disciplinary fine
The Kuwait Capital Markets Authority has referred a case to the Attorney General concerning a company's non-compliance with a Disciplinary Board decision under Article 127 of Law No. 7 of 2010. The company, listed on Boursa Kuwait, failed to pay a fine as required by Resolution No. 09/2025, despite being legally notified on 24 June 2025.
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Kuwait Capital Markets Authority refers alleged unlicensed investment advisory activity to the Attorney General
The Kuwait Capital Markets Authority has reported an alleged criminal offence to the Attorney General involving unlicensed investment advisory services. The conduct is linked to Article (63) and criminalised under Article (126) of Law No. 7 of 2010.
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Australian Securities & Investments Commission sues Mercer Super over alleged systemic failures to report member services investigations
The Australian Securities & Investments Commission (ASIC) has initiated Federal Court proceedings against Mercer Super for allegedly failing to comply with the reportable situations regime from October 2021 to September 2024. ASIC claims Mercer Super did not promptly report significant breaches, including seven unreported investigations and one delayed by over a year. Issues involved incorrect insurance premium refunds, uncreated member accounts with default insurance, and delays in processing member information updates. Additionally, ASIC alleges Mercer Super provided false or misleading reports understating affected members.
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Australian Competition and Consumer Commission proposes eight-year authorisation for AusPayNet members to coordinate card payments migration from Triple DES to Advanced Encryption Standard
The Australian Competition and Consumer Commission issued a draft determination proposing to authorize Australian Payments Network Limited and members of the Issuers and Acquirers Community to coordinate migrating the Australian card payments system from Triple Data Encryption Standard to Advanced Encryption Standard, including limited information sharing. Submissions on the draft determination are due by 29 August 2025, after which a final decision will be made.
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Central Bank of Cyprus publishes Statistical Bulletin for July 2025
The Central Bank of Cyprus released its Statistical Bulletin for July 2025, offering updated economic statistics for Cyprus. The bulletin, issued quarterly, encompasses monthly, quarterly, and annual data on various economic aspects.
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Central Bank of Cyprus publishes June 2025 investment fund statistics showing modest asset growth and a higher fund count
The Central Bank of Cyprus released June 2025 investment fund statistics, noting a rise in the number of funds to 343 and a 0.5% increase in total assets to EUR 7,577.9 million. This data is part of the August 2025 Investment Fund Statistics publication.
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Ecuador's Superintendency of Banks signs memorandum of understanding with Global Green Growth Institute to support sustainable finance regulation
Ecuador's Superintendency of Banks and the Global Green Growth Institute signed a memorandum to enhance cooperation on sustainable finance. The agreement aims to integrate environmental, social, and climate criteria into Ecuadorian financial regulation and facilitate experience exchange on international standards. It also seeks to form strategic alliances with regulators in Latin America and beyond to improve environmental and climate risk management.
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Central Bank of Ireland loosens credit union lending rules by splitting house and business lending caps
The Central Bank of Ireland has revised its regulatory lending framework for credit unions, expanding house and business lending capacities. The new framework sets concentration limits at 30% for house lending and 15% for business lending, effective 30 September 2025, increasing total sector lending capacity from EUR 2.9bn to EUR 9.9bn. Credit unions are expected to adopt these changes prudently, enhancing skills and risk management.
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Bank of Italy publishes updated Financial Market statistics through June to July 2025
The Bank of Italy released updated Financial Market statistics for June–July 2025 in its report titled "The Financial Market – June-July 2025."
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Bank of Italy publishes updated public finance statistics on borrowing requirement and debt as of June 2025
The Bank of Italy released updated statistics on public finances, detailing the borrowing requirement and debt as of June 2025.
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Indonesia's Financial Services Authority joins Finance Ministry, Bank Indonesia and Indonesia Deposit Insurance Corporation to run LIKE IT 2025 financial literacy outreach for scouts with disabilities
Indonesia's Financial Services Authority, with the Ministry of Finance, Bank Indonesia, and the Indonesia Deposit Insurance Corporation, launched the LIKE IT 2025 programme to enhance financial literacy among scouts with special needs. Aligned with the 2025 National Special Needs Scout Camp, it promotes financial independence through saving and investment education, highlighting financial literacy and inclusion rates, and supporting equal access to financial services for persons with disabilities.
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Algeria Market Authority reports publication of Moustachir Spa first half 2025 financial statements
Algeria Market Authority said Moustachir Spa has published its first half 2025 financial statements. The release includes semestrial accounting statements and a press release.
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Danish Financial Supervisory Authority and partner agencies invite AML Act reporting entities to join case-based AML and counter-terrorist financing workshops in autumn 2025
The Danish Financial Supervisory Authority will hold case-based workshops on money laundering and terrorist financing with Danish authorities and professional bodies in October and November 2025. These sessions will focus on three new cases reflecting current trends and will be held in Danish. Entities with reporting obligations under Denmark’s Anti-Money Laundering Act are encouraged to express interest by 10 September 2025.
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Bermuda Monetary Authority warns spoofed bma-bm.com email domain is being used to divert wire payments
The Bermuda Monetary Authority issued a warning about spoofed emails from the domain @bma-bm.com, used to misdirect payments intended for the Authority. These emails targeted a regulated entity, diverting funds to an unrelated account under "BMA Gulf" with false instructions. The Authority emphasized that official communications use the @bma.bm domain and advised caution against fraudulent requests.
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Bermuda Monetary Authority bars Martin Pitonák from roles and service provision to Investment Funds Act regulated funds for five years
The Bermuda Monetary Authority issued a five-year prohibition order against Mr. Martin Pitonák, barring him from roles in any investment fund under the Investment Funds Act 2006. This follows findings of his lack of probity and competence as a director of Stonebridge Capital Hedge Fund Limited, which was ordered to be wound up. Pitonák did not appeal the decision, and the order has been published to inform the public.
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Australian Financial Complaints Authority updates its Financial Difficulty EDR Response Guide to clarify expectations for hardship complaint responses
The Australian Financial Complaints Authority has updated its Financial Difficulty External Dispute Resolution Response Guide, clarifying expectations for financial firms in handling hardship complaints by detailing documentation, decision explanations, and compliance with regulatory obligations. The guide incorporates the National Credit Code, industry Codes of Practice, and AFCA’s fairness principles, with added guidance on customer vulnerability and a comprehensive list of supporting information.
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Securities and Exchange Commission Ghana issues Underwriter Guidelines 2025 setting licensing, capital and underwriting agreement registration requirements
The Securities and Exchange Commission Ghana has issued the Securities Industry (Underwriter) Guidelines 2025, establishing a licensing and operational framework for underwriting securities. The guidelines apply to broker-dealers, issuing houses, and licensed underwriters, mandating compliance with capital requirements and disclosure obligations. Breaches may result in penalties under the Securities Industry Act.
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Gibraltar Financial Services Commission publishes three Solvency II guidance notes on capital add-ons and group supervision
The Gibraltar Financial Services Commission released three guidance notes to clarify Solvency II group supervision and capital add-ons for insurers and stakeholders. The notes address Solvency II capital add-ons, group supervision, and the GFSC's insurance group supervision approach.
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Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority warn on stablecoin-linked share price volatility and licensing speculation
The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint statement on market volatility linked to the "stablecoin concept," cautioning investors against speculative decisions. The HKMA emphasized a rigorous approach to stablecoin issuer licensing, noting limited initial licences and ongoing market engagement. The SFC will monitor trading closely and act against manipulative practices.
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Hong Kong Monetary Authority publishes Exchange Fund analytical accounts showing foreign assets down HKD 56.4bn to HKD 3,539.8bn
The Hong Kong Monetary Authority released the Exchange Fund’s analytical accounts for July 2025, noting a HKD 56.4 billion decrease in foreign assets to HKD 3,539.8 billion. The Monetary Base was reported at HKD 2,042.6 billion, with claims on the private sector at HKD 317.6 billion and foreign liabilities at HKD 32.6 billion. The HKMA confirmed its schedule for four monthly Exchange Fund data releases, including those under the IMF’s Special Data Dissemination Standard.
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Hong Kong Monetary Authority and Securities and Futures Commission warn on stablecoin-related volatility and signal strict licensing bar
The Hong Kong Monetary Authority and the Securities and Futures Commission warned about market movements linked to "stablecoin" speculation and licensing claims in Hong Kong. They stressed that stablecoin issuer licensing will undergo rigorous assessment and urged investors to avoid decisions based on hype. The Securities and Futures Commission will monitor trading closely and act against manipulative practices.
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Hong Kong Monetary Authority issues scam alert on Bank of Singapore fraudulent mobile application
The Hong Kong Monetary Authority issued a scam alert regarding a fraudulent mobile application involving Bank of Singapore Limited. It reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.
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Bank for International Settlements study finds high-frequency trading raises cost of capital for low-beta stocks but lowers it for the most liquid shares
The Bank for International Settlements published research on high-frequency trading's impact on firms' cost of equity, using exchange speed upgrades as quasi-natural experiments. The study finds HFT can increase the cost of capital for low-beta, illiquid stocks by raising market risk sensitivity, while reducing it for the most liquid stocks through a lower liquidity premium. Similar patterns were observed in both the fragmented U.S. and unfragmented Hong Kong markets, highlighting HFT's concentrated effects across different equity segments.
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Thailand Office of Insurance Commission permits 180-day deferral of motor insurance premiums for policyholders in storm disaster areas
The Thailand Office of Insurance Commission has relaxed motor insurance conditions in disaster zones due to storms, allowing premium deferrals for up to 180 days for contracts between 20 July 2025 and 31 December 2025. This applies to all motor insurance types except private passenger cars in groups 1 and 2. Insurers must issue a policy endorsement setting the payment deadline, and coverage remains active during the deferral period, but non-payment by the deadline results in policy termination.
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Thailand Office of Insurance Commission consults on AI governance guideline for insurers
The Thailand Office of Insurance Commission has initiated a public hearing on a draft AI Governance Guideline for insurance companies, outlining supervisory expectations for AI use. The guideline emphasizes governance, security, transparency, and fairness, using a risk-based proportionality approach tailored to firms' business models and technology complexity. Feedback will be consolidated for revisions before final issuance by the end of 2025.
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Central Bank of the Republic of San Marino launches tender to lease or buy an office building for the Financial Intelligence Agency
The Central Bank of the Republic of San Marino (BCSM) has issued an Invitation to Offer for leasing or purchasing an office building for the Financial Intelligence Agency. Eligible properties must be located in specified areas of San Marino and meet criteria outlined in the Economic Offer Form. A joint BCSM-AIF committee will evaluate bids based on technical and economic factors, with the option to lease, purchase, or use a hybrid formula.
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Brazilian Superintendence of Private Insurance highlights need for clear rules on step-in clauses in public works surety insurance
The Brazilian Superintendence of Private Insurance (SUSEP) discussed the new surety insurance model with a step-in clause at ABDIB’s Diálogos da Infraestrutura event. Superintendent Alessandro Octaviani emphasized the need for clear regulation to enhance contract predictability and project continuity in public works. The event also addressed surety insurance's role in Brazil’s public procurement, bid guarantee issuance, and risk monitoring.
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Brazilian Superintendence of Private Insurance discusses Insurance Risk Letter and notes first issuance milestone at FGV roundtable
The Brazilian Superintendence of Private Insurance (SUSEP) joined a São Paulo roundtable by the Getulio Vargas Foundation’s Insurance and Reinsurance Innovation Institute to discuss the Insurance Risk Letter (LRS), introduced by Law No. 14,430 of 2022. SUSEP’s Director, Carlos Queiroz, highlighted the LRS as a regulatory innovation enhancing Brazil’s insurance and reinsurance system. The event marked the first LRS issuance as a historic milestone, with discussions involving public and private sector experts on its features and market impact.
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Central Bank of Iraq discusses closer cooperation with Islamic Investment and Export Credit Insurance Corporation on insurance for foreign and investment loans
The Central Bank of Iraq met with the Islamic Investment and Export Credit Insurance Corporation to discuss enhanced cooperation and review a study on credit insurance for financing large strategic projects with the Iraqi government, highlighting increased investment opportunities and the Islamic Development Bank's expanded role in project financing.
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Central Bank of the Philippines orders BSP-supervised institutions to remove in-app gambling access from payment apps within 48 hours
The Central Bank of the Philippines has mandated all BSP-supervised institutions to suspend in-app gambling access from their mobile payment apps and websites. This decision, approved by the Monetary Board, addresses rising online gambling transactions and public concerns about consumer financial health. The suspension will remain until a new policy setting standards for online gambling payment services is implemented.
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South African Reserve Bank working paper analyses climate transition risk exposure in Southern African banks
The South African Reserve Bank released a working paper on climate-related transition risks in the financial sectors of Botswana, Namibia, Mozambique, and South Africa, focusing on banks' exposure to carbon-intensive industries. Transition shocks lead to current account deterioration in Namibia and South Africa, while trade volumes remain stable or grow in Botswana. It recommends integrating transition risk into supervisory frameworks, enhancing climate-related risk disclosure, stress testing, and aligning with international climate finance standards.
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Central Bank of Curaçao and Sint Maarten study projects demographic ageing could raise Curaçao healthcare spending 41–42% by 2050
The Central Bank of Curaçao and Sint Maarten published a study identifying ageing as a major threat to Curaçao’s healthcare sustainability. Healthcare costs could rise by over 140% by 2050 due to demographic changes and inflation. The study suggests expanding the contributor base, implementing a national prevention strategy, and broadening revenues through co-payments and health levies as solutions.
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Brazilian Pension Funds Authority assigns 13 new auditors to strengthen supervision of closed pension funds
The Brazilian Pension Funds Authority (PREVIC) has appointed 13 new auditors from the Federal Revenue Service to its Supervision Directorate. These auditors will conduct inspections, monitoring, and complaint handling for 270 closed pension entities with over 8.2 million participants. An induction and training program is planned for early September, with final assignments to be confirmed post-interviews with PREVIC leadership.
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Central Bank of Brunei Darussalam and Monetary Authority of Singapore sign MoU to establish a reciprocal cross-border collateral arrangement
The Central Bank of Brunei Darussalam and the Monetary Authority of Singapore signed a Memorandum of Understanding for a reciprocal cross-border collateral arrangement to enhance liquidity management and support financial stability. The roundtable also discussed economic trends, payments connectivity, and the 60th anniversary of the Currency Interchangeability Agreement in 2027.
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Central Bank of the Philippines recognises nine South Luzon Regional Office partners for advancing key central bank programmes
The Central Bank of the Philippines held its 2025 Outstanding BSP Stakeholders Appreciation Ceremony in Naga City, recognizing nine institutional partners for their contributions to gold buying, financial inclusion, currency management, and digital payments. Awardees included Land Bank of the Philippines branches, CARD Banking Group, and several local government and cooperative entities. Similar ceremonies are planned for other regional offices.
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Central Bank of the Philippines orders BSP-supervised institutions to remove in-app gambling links from payment channels within 48 hours
The Central Bank of the Philippines has mandated all BSP-Supervised Institutions to remove links to gambling sites from their payment apps and websites within 48 hours. This directive affects e-wallet providers, banks, and other institutions, suspending functionalities that redirect users to gambling sites. The measure addresses rising online gambling transactions and their financial and social impacts, pending final policy development.
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New York State Department of Financial Services secures USD 2 million cybersecurity settlement with Healthplex and mandates independent review of MFA controls
The New York State Department of Financial Services settled with Healthplex, Inc. for USD 2 million under its cybersecurity regulation, following a 2021 phishing incident. Healthplex must retain an independent auditor to assess its multi-factor authentication controls. The investigation revealed inadequate data retention policies and delayed incident reporting, compromising the nonpublic information of thousands of New Yorkers.
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Central Bank of the Philippines recognizes nine South Luzon stakeholders for support on gold buying financial inclusion and digital payments
The Central Bank of the Philippines (BSP) held its 2025 Outstanding BSP Stakeholders Appreciation Ceremony in Naga City, honoring nine institutional partners for contributions to price stability, financial stability, and safe payments. Recognized entities included Land Bank of the Philippines branches, CARD Banking Group, and various provincial governments and cooperatives. The BSP plans similar events for its offices in North Luzon, Visayas, and Mindanao.
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Romanian Financial Supervisory Authority imposes July 2025 sanctions across insurance and capital markets with fines up to RON 17,800
In July 2025, the Romanian Financial Supervisory Authority sanctioned breaches in the non-banking financial market, including insurance distribution, capital markets, and AML/CFT controls. Key actions included fines and remedial plans for Infinity Capital Investments and Lion Capital, warnings for Depositarul Central, and penalties for AETA, Ropharma, and Societatea de Construcții Napoca for reporting failures. Duplex was fined and ordered to comply with ASF requests within three days.
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Italian Institute for Insurance Supervision orders blocking of three unauthorised insurance intermediation websites
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of insurance intermediation through three websites offering services unlawfully and initiated their blocking by internet service providers in Italy. This is part of a broader enforcement effort, with 268 sites subject to cessation orders since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers, especially for short-term motor third-party liability policies, by consulting its online registers.
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Philippine Securities and Exchange Commission consults on shifting Securities Regulation Code Section 10.1 exempt transactions to no-fee notice filings
The Philippine Securities and Exchange Commission seeks comments on a draft circular revising documentation and payment for exemptions from securities registration under Section 10 of the Securities Regulation Code. The draft requires a Notice of Exemption filing using SEC Form 10.1 without a fee but allows confirmation applications with a fee for Section 10.1 and 10.2 exemptions. It proposes repealing or modifying inconsistent provisions and includes a transitory clause for prior Section 10.1 transactions.
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Monetary Authority of Singapore and Brunei Darussalam Central Bank sign MoU to establish reciprocal cross-border collateral arrangement
The Brunei Darussalam Central Bank and the Monetary Authority of Singapore signed a Memorandum of Understanding for a reciprocal cross-border collateral arrangement, enhancing liquidity management and financial stability. The roundtable also addressed global economic trends, payments connectivity, and plans for the 60th anniversary of the Currency Interchangeability Agreement in 2027.
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Brazil Securities Commission orders immediate suspension of A3 Invest investment advisory service offers
The Brazil Securities Commission (CVM) has mandated the immediate suspension of investment advisory services by A3 Invest Assessoria de Investimentos Ltda. The CVM also issued a warning to the capital markets and the public regarding the firm's activities.
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Brazil Securities Commission launches quarterly bulletin tracking the real estate sector’s footprint in capital markets
The Brazil Securities Commission (CVM) released the inaugural CVM Real Estate Sector Bulletin, a quarterly report detailing the real estate industry's presence in capital markets, focusing on Real Estate Investment Funds (FIIs) and Real Estate Receivables Certificates (CRIs). Compiled by the Superintendence of Securitization and Agribusiness, it uses data from CVM’s Open Data Portal and other internal sources, with June 2025 as the reference date.
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Guernsey Financial Services Commission signs information sharing MoU with Kuwait Capital Markets Authority
The Guernsey Financial Services Commission signed a memorandum of understanding with the Capital Markets Authority of Kuwait to establish a framework for cooperation and information sharing. This agreement follows negotiations during a Guernsey Finance visit to Kuwait and aims to support collaboration between Kuwaiti and Bailiwick businesses.
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Canadian Securities Administrators publish 2024-2025 Year in Review citing 1,011 investor alerts and 20 crypto-related enforcement actions
The Canadian Securities Administrators (CSA) released its 2024-2025 Year in Review, highlighting progress on strategic goals in investor protection, enforcement, policy development, and market innovation. Key achievements include 1,011 investor alerts, with over 75% related to crypto assets, and 54 permanent market bans. The CSA also reported 57 publications on rule changes and hosted a webinar on data portability with 155 organizations.
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Financial Services Regulatory Authority of Ontario consults on proposed supervisory guidance for target benefit multi-employer pension plans
The Financial Services Regulatory Authority of Ontario has released proposed Supervisory Approach Guidance for overseeing Ontario’s target benefit framework for multi-employer pension plans. The guidance details FSRA’s review and approval process for converting defined benefits to target benefits, assessment of plan provisions, and ongoing supervision through regular reviews and risk assessments.
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World Federation of Exchanges reports H1 2025 IPO activity fell while exchange-traded derivatives volumes halved
The World Federation of Exchanges reported a decline in global primary market activity and exchange-traded derivatives volumes in H1 2025, with IPO counts dropping 20.9% to 570 deals and proceeds falling 15.7% to USD 66.41 billion. Asia-Pacific saw the largest decrease in IPO issuance, while the Americas and EMEA experienced increases in IPO numbers and capital raised; derivatives volumes fell 61.3% for options but rose 2.8% for futures, with notable declines in Asia-Pacific due to regulatory changes in India.
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Nigeria's National Insurance Commission establishes 2025 recapitalization committee to implement revised capital requirements
Nigeria's National Insurance Commission has formed a 2025 Recapitalization Committee to oversee the recapitalization programme and ensure compliance with revised capital requirements under the Nigeria Insurance Industry Reform Act 2025. Chaired by Mrs. Oluwatoyin Charles, the committee will develop a roadmap, draft guidelines, and recommend minimum capital requirements while promoting transparency in capital inflows. Regular progress reports will be submitted to NAICOM management and stakeholders.
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Nigeria's National Insurance Commission issues operational guidelines for Insurtech licensing and supervision effective 1 August 2025
Nigeria’s National Insurance Commission (NAICOM) has issued guidelines for Insurtech businesses, establishing a regulatory framework for licensing, operations, and supervision. It introduces licensing routes for "Partnering Insurtech" and "Standalone Insurtech" firms, with exclusions for certain insurance products. Licensed Insurtechs must adhere to prudential and market conduct expectations, and disputes are subject to contractual arbitration before escalation to NAICOM.