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2025-08-12•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission announced that the Federal Court imposed AUD 7.4 million in penalties on Rent4Keeps Pty Ltd and its largest franchisee, Darranda Pty Ltd, for overcharging consumers and failing to meet credit licensee obligations. Darranda entered into 516 agreements misrepresented as leases, breaching the 48% annual rate cap and failing to disclose key contract details. Rent4Keeps was complicit in these breaches, targeting low-income consumers and Centrelink recipients, leading to payments nearly four times the retail cost of goods.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-08-12•Australia•Australian Securities & Investments Commission
The Administrative Review Tribunal upheld ASIC's decision to ban Joel James Hewish, director of United Global Capital Pty Ltd, from financial services for 10 years. This follows Hewish's appeal against ASIC's May 2024 ruling. Hewish may appeal to the Federal Court, and ASIC's investigation continues.
EnforcementSanctions & designations
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2025-08-12•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that Darryl Brian Mapleson was sentenced by the Supreme Court of Western Australia for insider trading in Beacon Minerals Limited. Mapleson received a 12-month imprisonment, to be released on a AUD 5,000 recognisance for good behaviour for two years, and a AUD 60,000 fine. He used inside information from his role at BM Geological Services Pty Ltd to procure shares through Rosdarem Pty Ltd and Rosdarem Investments Pty Ltd before a significant announcement, leading to a 33% share price increase. The case was prosecuted by the Commonwealth Office of the Director of Public Prosecutions.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-12•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) charged former investment manager Rodney Forrest with insider trading and providing unlicensed financial advice. Forrest pleaded guilty to acquiring AUD 2.6 million in Platinum Asset Management shares using inside information and operating a financial services business without a licence. The case, prosecuted by the Commonwealth Director of Public Prosecutions, is among the first referred to the Federal Court under ASIC's expanded criminal jurisdiction.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-12•United States•National Association Of Insurance Commissioners
At the 2025 Summer National Meeting, National Association of Insurance Commissioners President Jon Godfread prioritized modernizing state-based insurance supervision. Key areas include strengthening Risk-Based Capital (RBC) governance, enhancing reinsurance oversight, and implementing AI guardrails. Godfread emphasized RBC governance should prioritize solvency objectives and highlighted scrutiny of offshore reinsurance and asset adequacy testing.
Policy & regulationReform agendas & prioritiesOther
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2025-08-12•Norway•Department of Finance (Norway)
Norway's Department of Finance is soliciting written input for its evaluation of the monetary policy provision established by royal resolution on 13 December 2019. This initiative, highlighted in the Financial Markets Report 2025, invites stakeholders to share their experiences with the current arrangement.
Policy & regulationGuidance & interpretationMonetary policy decisions and developments
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2025-08-12•Ghana•Securities and Exchange Commission Ghana
The Securities and Exchange Commission Ghana released the Securities Industry (Financial Resources) Guidelines 2025, detailing financial resource requirements for licensed market operators. The guidelines specify minimum liquid capital thresholds by activity, such as GHS 5,000,000 for a securities exchange and GHS 200,000,000 for a primary dealer, and outline the calculation of liquid capital and monitoring obligations. Operators must comply with phased liquidity requirements by December 2026, facing penalties for non-compliance.
Policy & regulationRules & requirementsPrudential risksAccounting and financial reporting
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2025-08-12•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond's Econ Focus article addresses rising payments fraud, emphasizing recent check-fraud tactics. It highlights a viral TikTok hack in 2024 that led to account freezes and reports USD 12.5 billion in fraud losses, likely underestimated due to underreporting. The article also discusses criminal methods and the Federal Reserve's FraudClassifier and ScamClassifier models for classifying and monitoring fraud.
ResearchFraud and scams
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2025-08-12•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced that the Stock Exchange of Hong Kong Limited has taken its first disciplinary action against two former directors of TOMO Holdings Limited for non-cooperation with investigations. Ms. Ma Xiaoqiu and Mr. Jin Lailin were publicly censured and deemed unsuitable for director or senior management roles. The SFC's investigation into possible contraventions involving TOMO is ongoing.
EnforcementSanctions & designationsCorporate governance
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2025-08-12•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendence of Banking, Insurance and Private Pension Funds (SBS) reported that Municipal Savings and Credit Banks (CMAC) reached PEN 37.1bn in direct lending as of June 2025, focusing on micro and small enterprises. CMAC also provided PEN 7bn in consumer credit and PEN 1.6bn in mortgages, while managing PEN 32.7bn in deposits. The SBS is conducting in-person supervisory visits to discuss governance and financial soundness as part of a national outreach programme.
SupervisionReviews, inspections & stress testsLendingSupervision process and methodologies
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2025-08-12•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert after Chong Hing Bank Limited reported a fraudulent website and internet banking login screen. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-08-12•Global•Ceres
Ceres' analysis of US insurance sector climate risk reporting reveals a gap between insurers' climate commitments and progress measurement, with none of the 45 groups disclosing necessary emissions targets. The report highlights limited emissions-target reporting, inadequate climate goal monitoring, and underutilization of scenario analysis technologies. This complements Ceres' broader 2025 climate disclosure review of 526 insurance groups, structured around the TCFD framework.
ResearchClimate risk and sustainable finance
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2025-08-12•Palau•Palau Financial Institutions Commission
The Palau Financial Institutions Commission (FIC) announced that Palau International Bank Limited (PIBL) is not licensed to operate in Palau, following false claims on a website. The FIC is working to remove the site, clarified PIBL's lack of affiliation with the licensed Palau Investment Bank, and warned of penalties for unauthorized use of banking terms.
SupervisionAlertsLicence withdrawal
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2025-08-12•Palau•Palau Financial Institutions Commission
The Governing Board of the Palau Financial Institutions Commission appointed Ms. V. Tikei Sbal as Executive Commissioner, effective May 20, 2025, to uphold the Commission's mandate for integrity and stability in Palau's financial sector.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-12•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revoked the licence of “Arys” Credit Partnership LLP for microfinance activities due to systematic legal breaches. The firm must re-register to remove terms implying microcredit provision or opt for reorganisation or liquidation within 30 days. Clients must continue to fulfill obligations under existing microcredit agreements.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-08-12•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 licensed JSC KMF Bank as the 23rd second-tier bank, transitioning from a microfinance organization. The licence permits deposit-taking, credit provision, and foreign exchange transactions, with individual services pending inclusion in the mandatory deposit guarantee system. As of 1 August 2025, KMF reported assets of KZT 395bn, a loan portfolio of KZT 315bn, and a capital adequacy above 22%, mainly serving small and medium-sized enterprises.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-12•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to the financial sanctions regimes for Iraq and Russia, as issued by the Isle of Man Treasury, Customs and Immigration Division. The notice directs stakeholders to the Isle of Man Government news releases and the Treasury division’s Sanctions and Export Control webpage for detailed information and ongoing notifications.
Policy & regulationGuidance & interpretationSanctions list update
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2025-08-12•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has updated its Regulatory Guidance on Fitness and Propriety and the F&P1 Individual Questionnaire, altering the processing of criminal record checks for Controlled Functions. Firms must now submit a copy of the criminal record check certificate with the F&P1 Questionnaire, aligning with the existing practice for R1 individual controllers under the F&P3 process.
Policy & regulationGuidance & interpretationFitness and propriety
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2025-08-12•Global•Bank for International Settlements
The Bank for International Settlements' BIS Bulletin analyzes the macroeconomic impacts of tariff hikes and trade policy uncertainty, noting tariffs reduce output growth and can increase inflation. It identifies the direct trade channel as the primary mechanism, with higher import prices causing stagflationary effects in tariff-imposing countries and weaker export demand in tariffed economies. It warns of risks from supply chain disruptions and trade diversion, noting prolonged trade policy uncertainty can significantly impact GDP and growth-at-risk outcomes.
Research
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2025-08-12•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has terminated the licence of Tezpolis Insurance Broker LLP for insurance brokerage activities following the firm's voluntary return of the licence, as per Deputy Chair order No. B-314.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-12•Dominican Republic•Superintendencia del Mercado de Valores de la Republica Dominicana
Ernesto Bournigal, superintendent of the Dominican Republic's Securities Market Superintendency, highlighted efforts to expand securities market access, noting DOP 3 billion mobilised in public offerings. Initiatives include financial education sessions, digital platform investments, and an "On Boarding" mechanism for opening brokerage accounts. The market supports financing in sectors such as energy, infrastructure, health, and tourism.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-08-12•Iraq•Central Bank of Iraq
The Central Bank of Iraq, led by Governor Ali Mohsen Al-Allaq, engaged with Oliver Wyman to refine the banking reform plan, emphasizing governance, compliance, risk management, and technological efficiency to align with international standards and restore ties with correspondent banks.
Policy & regulationReform agendas & priorities
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2025-08-12•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has introduced a regulatory framework for "Global Access" via India's International Financial Services Centre, allowing regulated foreign securities trading. Developed with stakeholder input, it sets norms for Global Access Providers and Introducing Brokers to enhance market access, investor protection, and market integrity. It aims to facilitate Indian retail investors' global market access and encourage onshoring trading activities to the IFSC.
Policy & regulationRules & requirementsCross-border payments
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2025-08-12•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) updated on implementing Resolution PREVIC 23/2023, shifting from focusing on 18 systemically important entities to a segmentation approach for supervising 270 closed supplementary pension entities (EFPC). The update highlights a transition to risk-based supervision, structured risk management, and standardized inspection procedures. PREVIC plans a public consultation in September 2025 for further revisions, aiming to align with national pension and monetary council rules, including ESG investment criteria.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-08-12•United States•Council of Economic Advisers
The US Council of Economic Advisers released a paper evaluating the impact of expanding retail investor access to alternative investments, particularly private equity, through defined contribution retirement plans. The study suggests such access could enhance participant outcomes, increase risk-adjusted returns, and boost retirement wealth, especially for younger cohorts. It also estimates a potential GDP increase of up to USD 35 billion from expanded private equity access.
ResearchOther
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2025-08-12•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic assessed risk management practices across 45 financial entities, revealing widespread adoption of key risk tools, with 98% defining key risk indicators and 93% conducting stress tests. The report highlights areas for improvement, including concentration measurement and sector correlation analysis. Operational risk specialization increased, and risk tool usage rose, with advancements in risk culture and training.
SupervisionRisk monitoring & watch pointsRisk managementSupervision process and methodologies
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2025-08-12•Global•Bank for International Settlements
The Bank for International Settlements published a BIS Bulletin finding that tariffs generally reduce output growth and raise inflation, especially in tariff-imposing economies, with indirect channels and persistent trade policy uncertainty amplifying these effects. Trade-model estimates suggest the United States would see the largest GDP impact, with smaller but model-dependent effects for the euro area and China, while high-tariff retaliation scenarios generate pronounced stagflationary pressures for Canada and Mexico.
Research
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2025-08-12•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated Mr. Hoàng Anh Nhật to pay a VND 1,000,000 fee for the re-issuance of his securities brokerage practising certificate. Payment can be made via bank transfer or directly at the Commission. Failure to collect the re-issued certificate within one year will result in its cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-08-12•Estonia•Central Bank of Estonia
The Central Bank of Estonia announced its publication schedule for Estonia's balance of payments and foreign travel statistics. The second quarter balance of payments will be released on 10 September, and third quarter foreign travel statistics on 6 November 2025. These statistics are published separately from economic policy releases.
Data & statisticsBalance of payments and other external statistics
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2025-08-12•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) fined and temporarily banned entities and individuals for unregistered offerings and fraudulent activities. Investplan Securitizadora S.A. and DDbank Donard Digital Bank were fined BRL 3,700,000 each. Salomão Silveira Soares and Pâmela Cristine de Souza received fines and a 60-month ban. Gleiverson Almeida Morete was fined BRL 2,877,927.94 and banned for 69 months, while Thatiana Schaffer de Souza Morete was fined BRL 170,000. Appeals can be made to the Council of Appeals of the National Financial System.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-12•Germany•German Bundesbank
The German Bundesbank's June 2025 securities market statistics show a gross issuance of EUR 143.9 billion in the German bond market, with a net increase of EUR 84.1 billion in debt securities outstanding. Domestic enterprises led net issuance with EUR 46.5 billion, while domestic non-banks were the largest net buyers of domestic bonds at EUR 53.7 billion. In equities, new shares issued amounted to EUR 5.1 billion, with domestic non-banks and banks as net buyers, while foreign investors were net sellers.
Data & statisticsFinancial and market indicators
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2025-08-12•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia and ICAEW Malaysia launched the Coastal Flooding Adaptation & Resilience Challenge for university students to propose scalable solutions for Carey Island. The initiative aims to enhance climate adaptation through the capital market, with SD Guthrie and SEADPRI-UKM as partners. Finalists will present at the ICAEW Sustainability Summit, with winners receiving cash prizes and recognition at the ASEAN Capital Markets Forum International Conference.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-08-12•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a sanctions notice correcting details for Nikola VEIN under the UK Irregular Migration and Trafficking in Persons Sanctions Regulations 2025. Businesses must freeze relevant funds and assets of designated persons and report findings to the Policy & Resources Committee. Prohibitions on providing funds or resources to designated persons remain unless a derogation or licence is granted.
Policy & regulationGuidance & interpretationSanctions list update
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2025-08-12•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a cyber sanctions notice correcting entries for Aleksey Sergeyevich Morenets and Yevgeniy Mikhaylovich Serebriakov on the consolidated list, maintaining their designation under the Cyber (Sanctions) (EU Exit) Regulations 2020. Businesses must check for relationships with designated persons, freeze relevant funds, report findings, and avoid providing resources unless permitted by derogation or licence. Firms must inform the Commission and submit a report under Handbook Rule 12.37 if an affected relationship is identified.
EnforcementSanctions & designationsSanctions list update
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2025-08-12•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has launched its new online Applications and Authorisations Portal to streamline processes for financial services businesses in the Bailiwick. Featuring guardrails and conditional logic, the portal has seen increased uptake and more submissions than traditional channels since its release. The Commission plans to expand application types and achieve full industry adoption by year-end.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-08-12•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 10,000 penalty and added conditions to Ishaan Ahuja’s insurance licence, citing unsuitability under Ontario’s Insurance Act due to false information and character concerns. This follows a Tribunal decision directing FSRA to issue the licence with conditions, which FSRA has appealed to the Ontario Superior Court of Justice. A stay on the Tribunal’s decision is pending the court's ruling.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-12•Global•World Federation of Exchanges
The World Federation of Exchanges has released a paper urging governments to modernize tax systems to incentivize investment, support savings, and enhance public market appeal. Key recommendations include tax relief for pension savings, reduced withholding taxes, removal of levies on public listings, and streamlined tax reporting, with a focus on supporting small and medium-sized enterprises and opposing financial transaction taxes.
Policy & regulationInternational standards & recommendationsTax transparency and information exchange
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2025-08-12•Russia•Central Bank of Russia
The Central Bank of Russia will replace the Basel LCR with a national liquidity coverage ratio (NLCR) for systemically important credit institutions from 1 October 2025. The NLCR will start at 80% in 2025, increasing to 100% by 2026. It uses domestic bank data, includes a phased concentration limit for high-quality liquid assets, prohibits using dormant nostro accounts to boost liquidity ratios, and adjusts outflow rates for Federal Treasury and household funds. Compliance remains flexible with modified irrevocable credit lines, and a new NLCR reporting form will be introduced in January 2026.
Policy & regulationRules & requirementsLiquidity risk
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2025-08-12•Russia•Central Bank of Russia
The Central Bank of Russia, with ministries and agencies, has adopted a roadmap requiring banks to base loan decisions on borrowers' current official income data. Following a presidential directive, lenders will access real-time income data from the Federal Tax Service and the Social Fund of Russia via the Digital Profile, with borrower consent. The system is expected to be operational by March 2026.
Policy & regulationImplementation, projects & pilotsLending
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2025-08-12•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini's June/July 2025 Monthly Statistical Release reports a slight month-on-month decline in private sector credit and broad money in June, with a sharp increase in provisional gross official reserves in July. Private sector credit fell 0.05% month-on-month but grew 6.5% year-on-year to SZL21.6 billion, while broad money declined 2.0% to SZL23.4 billion. Provisional gross official reserves rose 45.1% month-on-month to SZL11.9 billion, increasing import cover to 2.9 months; the discount rate and commercial banks’ prime lending rate remained unchanged.
Data & statisticsMonetary data
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2025-08-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) met with ambassadors to promote investment in Egypt's non-banking financial sector, highlighting regulatory developments in digitalisation and fintech. The FRA shared market growth indicators, including increases in equity issuances, insurance premiums, and consumer finance. Future plans involve collaboration with global investment funds and coordination with the Ministry of Foreign Affairs to engage Egyptian communities abroad.
Policy & regulationCooperationMarket developmentDomestic cooperation
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2025-08-12•United States•Federal Reserve Board
The Federal Reserve Board issued a consent prohibition order against Khalila Cooper, a former First Horizon Bank employee, for embezzling bank funds.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-12•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization has proposed guidance to expand educational resources and decision-making supports for Order Execution Only (OEO) dealers, ensuring they do not make recommendations. The proposal aims to provide DIY investors with regulated information and warnings, allowing OEO dealers to offer educational content and tools like alerts and sample portfolios, with safeguards to prevent conflicts of interest.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-08-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission announced a final judgment by the U.S. District Court for the Eastern District of New York against Daniel Winston LaMarco, totaling USD 3,450,400 in restitution and penalties, with a permanent ban on commodity-related activity. The judgment follows prior rulings on forex and commodity pool operator fraud, involving LaMarco and his company, GDLogix, Inc., which fraudulently solicited USD 1,492,650 and operated a Ponzi-like scheme. The court also sanctioned LaMarco for bad-faith filings and threats toward CFTC counsel.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-12•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority fined Vend Marketplaces ASA NOK 10 million for unlawful disclosure of inside information during analyst calls. Vend shared non-public, price-sensitive information, violating the Market Abuse Regulation. The company will accept the penalty and has decided to discontinue pre-close analyst calls and revise its investor-relations practices.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-12•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission announced that its president, Roberto E. Silva, has been elected to the International Organization of Securities Commissions Finance and Audit Committee for a two-year term. This follows the departure of Nezha Hayat from the Moroccan Capital Market Authority. Silva is also serving as the Inter-American Regional Committee representative to IOSCO for the 2024–2026 term.
Institutional developmentLeadership change & appointmentsAuditingLeadership change and appointments
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2025-08-12•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission, People's Bank of China, and China Securities Regulatory Commission met to enhance financial consumer and investor protection. They reviewed 2025 consumer complaints, agreed on a problem-oriented approach for complaint trends, and emphasized cross-agency coordination to address misconduct. Plans include enhanced risk warnings, enforcement actions, and financial education activities to improve public financial literacy and risk prevention.
Policy & regulationCooperationConsumer and investor protection
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2025-08-12•Macao•Monetary Authority of Macao
The Monetary Authority of Macao reported on the 2025 Financial Talent Training Pilot Project in Wealth Management, noting 23 students completed the programme from 175 applicants. The five-week pilot included in-person training and internships at financial institutions. The authority emphasized its ongoing collaboration with the financial sector and educational institutions to enhance targeted training initiatives.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-12•India•Securities & Exchange Board of India
The Securities and Exchange Board of India released its Annual Report for FY 2024-25, detailing policies, programmes, and market trends from April 2024 to March 2025. The report, prepared under the SEBI (Annual Report) Rules, 2021, is available in Hindi and English on SEBI’s website.
OtherActivity and performance reporting
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2025-08-12•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan has authorized new foreign exchange activities to liberalize and internationalize the market. Approvals include CTBC Bank and Hua Nan Commercial Bank issuing dollar-denominated structured notes, Fubon Life Insurance conducting foreign exchange wealth management, and several banks issuing foreign currency negotiable certificates of deposit. UBS AG Taipei Branch and Union Bank of Taiwan were approved for foreign securities trading, excluding proprietary trading and hedging.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-12•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission released operating statistics for credit cards, cash cards, and electronic payment institutions as of June 2025, along with non-cash payment indicators for the first half of 2025. Key figures include 59.87 million effective credit cards with a delinquency ratio of 0.29%, and 4.183 billion non-cash transactions valued at NT$4.08 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-12•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Services Commission reported domestic banks' loans to SMEs reached NT$10,569 billion at end-June 2025, up NT$102 billion from end-May. SME lending accounted for 64.73% of total enterprise loans and 68.56% of private enterprise loans, with a stable non-performing loan ratio of 0.21%. The Commission encourages banks to expand SME lending while ensuring risk management.
Data & statisticsSME financing
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2025-08-12•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama has issued guidelines for a capital buffer for banks deemed locally systemically important, supplementing existing regulatory capital requirements. This framework applies to official and general licence banks identified as locally systemic.
Policy & regulationRules & requirementsCapital adequacy
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2025-08-12•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama issued Agreement 8-2025, amending its credit risk management framework to recognize guarantees from the Panama Guarantee Fund as a credit risk mitigant. The amendments update specific articles of Agreement No. 4-2013 and take effect upon publication in the Official Gazette.
Policy & regulationRules & requirementsCredit risk
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2025-08-12•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury updated its financial sanctions notice to align with the UK cyber sanctions list, removing duplicates and amending listings for Aleksey Sergeyevich Morenets and Yevgeniy Mikhaylovich Serebriakov. Both remain subject to asset freezes under the Cyber (Sanctions) (EU Exit) Regulations 2020 in the Isle of Man. The Treasury reiterated compliance expectations for institutions, including asset freezing, verification against the UK Sanctions List, and reporting to the Financial Intelligence Unit.
Policy & regulationRules & requirementsSanctions list update
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2025-08-12•Barbados•Central Bank of Barbados
The Central Bank of Barbados has launched the National Instant Payment System, set to go live on 31 March 2026. The system aims to benefit individuals, businesses, and the economy, with preparations underway to ready Barbadians for its implementation.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-08-11•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance will host activities in Iquique on 12 August to advance the National Financial Inclusion Strategy, focusing on economic autonomy for women and indigenous women entrepreneurs. Supported by UN Women, BancoEstado, and Arturo Prat University, the initiative aims to enhance access to financial services and education for historically excluded groups. A new financial management tool for indigenous women entrepreneurs will also be announced.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-08-11•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo met with the World Bank’s new Country Director, Carole Megevand, to discuss financial-sector developments and reaffirm cooperation, including technical assistance. Key topics included legal and regulatory reforms, digitalisation, financial resilience, SEPA membership preparation, and the green agenda. The meeting also covered the World Bank’s regional payment-system modernisation project and future integration with EU systems.
Policy & regulationCooperationCross-border cooperation
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2025-08-11•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority is consulting on a draft framework to publicly offer financing investment funds, expanding beyond private placements. The proposals aim to broaden fund structures and introduce new products by enabling public market access for funds engaged in direct and indirect financing. Key elements include public offering and listing on the Main and Parallel Markets, consolidated regulatory provisions, new risk management requirements, and defined investment areas, with indirect financing conducted through entities supervised by the Saudi Central Bank.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-11•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has authorized Arlete Marina Afonso da Silva e Santos as a Real Estate Valuation Expert for Collective Investment Undertakings. She is now permitted to value properties for real estate collective investment undertakings under the Commission's supervision.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-11•Ukraine•National Bank of Ukraine
The National Bank of Ukraine and key financial authorities have approved a revised Strategy of Ukrainian Financial Sector Development, addressing priorities amid the ongoing war. It aims to enhance macroeconomic stability, support private investment, and integrate Ukraine's financial system with the EU. Updates include legal reforms, infrastructure resilience, capital market upgrades, and expanded European integration initiatives, aiming for full regulatory equivalence with EU standards by 2027.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-08-11•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) released its report on authorisations and registrations for the first half of 2025, detailing key semiannual indicators.
SupervisionRegulatory reportingSupervisory data
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2025-08-11•Europe•European Banking Authority
The European Banking Authority's Q1 2025 Risk Dashboard shows the EU/EEA credit sector remains robust, with stable capitalisation and profitability despite rising operational risk and cost of risk. Total assets grew 2.7% to EUR 29 trillion, driven by increased debt securities and cash balances, while customer loans rose nearly 1%. Liquidity metrics eased, with the liquidity coverage ratio at 159.5% and net stable funding ratio at 126.9%.
Data & statisticsCredit riskAsset qualityLiquidity risk
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2025-08-11•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) has authorized SAIC Motor Insurance Limited, marking the second captive authorization in 2025. This reflects increasing market interest in Hong Kong as a captive domicile. The IA aims to address the risk management needs of Mainland state-owned and private enterprises and is exploring expanding captive structures and risk coverage.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-11•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) and the World Bank published a study on labour informality's impact on pension savings, revealing only 20% of affiliates have near-complete formal contribution histories. It shows a strong link between contribution density and income, with higher earners contributing more consistently, and notes improved participation among younger cohorts. It recommends enhancing retirement savings through consistent contributions and complementary pension plans.
ResearchFinancial inclusion
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2025-08-11•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released notes from its Superannuation CEO Roundtable, addressing recent cyber incidents affecting superannuation entities. The notes outline APRA's observations and supervisory expectations for enhancing cyber resilience to safeguard superannuation members and the broader system. The roundtable, held on 10 July 2025, included input from key government agencies and affected superannuation entities.
SupervisionRisk monitoring & watch pointsCyber resilience
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2025-08-11•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released notes from a superannuation industry CEO roundtable addressing recent cyber incidents, outlining observations and expectations for enhanced cyber resilience to protect members and the broader system.
Policy & regulationGuidance & interpretationCyber resilience
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2025-08-11•Mozambique•Ministry of Finance (Mozambique)
Mozambique's Ministry of Finance launched the National Financial Inclusion Strategy (ENIF) 2025-2031 to expand affordable financial services and enhance literacy. Building on ENIF 2016-2022, it emphasizes digital services, credit access, and green finance, led by the Bank of Mozambique and the Mozambique Insurance Supervision Institute. Targets include increasing adult bank account ownership to 60% and formal credit access to 30%, focusing on women, youth, and vulnerable groups.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-08-11•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's National Securities and Stock Market Commission, with key financial authorities, approved an updated Strategy for Financial Sector Development to enhance coordination and stability amid wartime uncertainty. It includes legislative measures for entrepreneurship, mortgage lending, social insurance reform, digital resilience, and a new EU integration initiative. By end-2024, 87% of the Strategy's measures were either fully implemented or on schedule.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-08-11•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's National Commission on Securities and Stock Market mandates that financial statements under International Financial Reporting Standards (IFRS) be submitted exclusively in XBRL format to the Financial Reporting Collection Center from November 2025. This change eliminates the XML format requirement and aligns with Cabinet of Ministers Resolution No. 419 and the updated Law No. 4196. Full compliance is expected by August 28, 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-08-11•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority (CMA) is consulting on a draft framework to allow financing investment funds, previously limited to private placements, to be publicly offered and listed on the Main and Parallel Markets. The draft consolidates rules into a single document and introduces risk management limits, including a 25% exposure cap to a single beneficiary. It also outlines permitted investment areas and methods for indirect financing activities through entities supervised by the Saudi Central Bank.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-11•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released statistics for July 2025 from the Central Information Repository.
Data & statisticsSupervisory data
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2025-08-11•Italy•Bank of Italy
The Bank of Italy's Italian Housing Market Survey for Q2 2025 shows a moderate rise in house prices and a continued increase in rents, albeit with signs of slowing. Mortgage loan accessibility improved for the seventh consecutive quarter, while demand remained strong despite a decline in new sale listings. Short-term lets significantly impacted housing prices and availability, according to over half of the surveyed real estate agents.
Data & statisticsEconomic data and developments
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2025-08-11•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) aims to enhance the capital market's role in national development by expanding listings, strengthening investor demand, and upgrading infrastructure. OJK reported first-half 2025 economic growth of 5.12% and significant market performance, with the Jakarta Composite Index up 6.41% year-to-date. Since the last anniversary, OJK issued 18 regulations and highlighted achievements in corporate governance and carbon trading.
Policy & regulationReform agendas & prioritiesMarket development
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2025-08-11•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica reported a 4.2% year-on-year growth in its Monthly Index of Economic Activity for June 2025, slightly slower than the previous year. Growth was driven by firms in special regimes, with a 15.5% increase due to higher exports of medical devices and growth in IT services. The definitive regime saw a 1.8% expansion, tempered by declines in construction, agriculture, and air tourist arrivals.
Data & statisticsEconomic data and developments
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2025-08-11•Indonesia•Bank Indonesia
Bank of Indonesia's Retail Sales Survey forecasts a 4.8% year-on-year increase in the Real Sales Index to 222.5 for July 2025, despite a 4.0% month-on-month contraction due to a post-holiday slowdown. Growth is driven by spare parts, food, and automotive fuel, while declines are linked to weaker sales in information and communication equipment. Respondents anticipate milder inflationary pressures in the short term, with the Price Expectations Index for September 2025 at 134.7, but expect stronger pressures by December 2025 as the index rises to 163.4.
Data & statisticsEconomic data and developments
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2025-08-11•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance and Latvijas Banka have launched a public consultation on a 2025–2027 strategy to boost Latvia's FinTech sector, targeting growth in companies, investment, and employment. The strategy emphasizes infrastructure, regulation, capital access, international promotion, and talent, with measures like a single contact point for FinTech businesses and improved funding access. Existing initiatives include a crypto-asset licensing regime and access to Latvijas Banka’s payment system for non-bank providers.
Policy & regulationReform agendas & prioritiesFintech and insurtech
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2025-08-11•United States•National Association Of Insurance Commissioners
The NAIC's Financial Regulation Standards and Accreditation Committee granted reaccreditation to the insurance regulatory departments in Maryland, Oregon, and Washington State at the 2025 Summer National Meeting. NAIC accreditation confirms a state insurance regulator meets financial solvency oversight standards, facilitating multistate supervision. Accredited departments undergo comprehensive reviews every five years, with interim annual assessments.
SupervisionAuthorisations & approvalsSupervision process and methodologies
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2025-08-11•Czech Republic•Czech National Bank
The Czech National Bank reported a 27% increase in instant interbank credit transfers in the first half of 2025, with instant payments now comprising over 40% of daily transfers. The growth is attributed to 24/7 availability and extensive market coverage, with 99% of bank clients having access. The CNB plans to accept instant payments for public-sector accounts and is working on instant processing for bulk payments with banks by the end of 2025.
Data & statistics
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2025-08-11•New Zealand•Serious Fraud Office
New Zealand's Serious Fraud Office announced that Aroha Awhinanui Tuira pleaded guilty to charges of obtaining by deception in a Ponzi scheme involving nearly NZD 4 million and over 55 investors, following her husband's earlier guilty plea. The scheme, targeting the te ao Maori community, spanned from May 2014 to May 2021, with sentencing set for 7 November 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-11•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission is developing the Fifth Insurance Development Plan for 2026–2030, focusing on consumer awareness, insurer stability, economic support, and sector modernization. Key areas include addressing emerging risks, enhancing financial literacy, and leveraging technology for transparency and fairness. The plan will undergo public consultation before final approval by the end of 2025.
Policy & regulationReform agendas & prioritiesOther
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2025-08-11•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) reported 3,317 consumer complaints in Michoacán for January to June 2025, a 6.6% increase from 2024, with claims totaling MXN 236.7 million. Credit cards, debit cards, and personal loans were the main sources of complaints, with unrecognized purchases and electronic transfers being significant issues. Multiple banking accounted for 67% of complaints, with 55.1% linked to potential fraud.
SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
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2025-08-11•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) and the Institute of Pure and Applied Mathematics (IMPA) have partnered to establish the Insurance Innovation Laboratory (LabSeg) to advance insurance market solutions using advanced mathematics. LabSeg will focus on decision-support technologies, data processing, AI optimization, and sustainability, leveraging IMPA's expertise in mathematical modeling and AI to enhance regulation.
Institutional developmentCooperation & capacity buildingSupervision process and methodologies
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2025-08-11•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan's delegation, led by Chairman Firdavs Nazrimad Tolibzoda, visited the German Federal Bank in Munich to exchange central banking experiences, focusing on cash centre operations. Discussions with Bundesbank officials included modern cash processing technologies, security systems, and counterfeit currency measures. Both parties expressed a commitment to further developing their partnership.
Policy & regulationCooperationLeadership change and appointments
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2025-08-11•South Africa•South African Reserve Bank
The South African Reserve Bank's Working Paper shows that South African banks with higher climate and environmental engagement have better credit portfolio quality, indicated by lower impaired loan ratios. The study uses a text-based C&E engagement indicator from 647 investor reports and employs advanced econometric methods to address endogeneity and selection issues. This preliminary research aims to provoke discussion and does not reflect official policy.
ResearchClimate risk and sustainable finance
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2025-08-11•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has appointed Lyn I. Javier as Deputy Governor of its Financial Supervision Sector, succeeding Chuchi G. Fonacier. Javier, a certified public accountant, has been with the central bank since 1998 and previously served as Assistant Governor, overseeing supervisory policy and specialized supervision.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-11•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a year-on-year increase in net foreign direct investment (FDI) inflows to USD 586 million in May 2025, driven by an 88.3% rise in net investments in debt instruments. However, cumulative net FDI inflows for January to May 2025 decreased to USD 3.0 billion from USD 4.0 billion the previous year. The data, compiled under the Balance of Payments and International Investment Position Manual, 6th edition, highlighted a 61.4% decline in net equity capital inflows.
Data & statisticsBalance of payments and other external statistics
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2025-08-11•Serbia•National Bank of Serbia
The National Bank of Serbia reported gross foreign exchange reserves of EUR 28,334.7 million at the end of July 2025, an increase of EUR 931.1 million from June, with net reserves rising to EUR 24,060.7 million. The reserves covered 165.0% of the M1 money supply and 6.7 months of imports. Interbank foreign exchange market trading in July totalled EUR 623 million, with the dinar's value against the euro remaining stable.
Data & statisticsBalance of payments and other external statistics
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2025-08-11•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission (FSC) announced a credit recovery support plan to expunge past overdue debt history for eligible delinquent debtors who repay overdue debts by 31 December 2025. The plan targets individuals and business owners with debts up to KRW 50 million accrued between January 2020 and August 2025. From 30 September 2025, financial companies will suspend sharing past delinquent debt history, potentially improving credit scores.
Policy & regulationImplementation, projects & pilotsCredit risk
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2025-08-11•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a public judgment session on 12 August to decide on two administrative sanctioning proceedings. The cases involve alleged irregularities by DDbank Donard Digital Bank in a debenture offering and alleged fraudulent operations by Thatiana Schaffer de Souza Morete and Gleiverson Almeida Morete. The session will be conducted in person and via videoconference, with restricted electronic voting if the accused do not participate.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-08-11•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia and Bank Negara Malaysia, co-chairs of the Joint Committee on Climate Change (JC3), reported progress on the Climate Finance Innovation Lab and outlined workstreams for a unified Malaysian Taxonomy on Sustainable Finance. JC3 discussed geopolitical impacts on decarbonisation and plans for a science-based taxonomy aligned with ASEAN standards. The committee supports the National Sustainability Reporting Framework and will publish the fourth JC3 Data Catalogue in November 2025.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-08-11•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released issue 194 of its July 2025 periodical, detailing its regulatory, supervisory, and institutional activities. The publication aims to enhance consumer and investor understanding of the markets under its supervision.
Other
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2025-08-11•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia and the Securities Commission Malaysia, co-chairs of the Joint Committee on Climate Change (JC3), outlined expanded membership and priorities to enhance climate finance and sustainability reporting. The JC3 highlighted strong interest in the Climate Finance Innovation Lab and discussed developing a unified Malaysian Taxonomy on Sustainable Finance. Upcoming initiatives include publishing the JC3 Data Catalogue and an SME climate conference in November 2025.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-08-11•Ukraine•Ministry of Finance (Ukraine)
Ukraine's Ministry of Finance and financial regulators approved a revised Financial Sector Development Strategy to tackle war challenges and boost EU integration. Updates focus on macroeconomic stability, capital market infrastructure, digital resilience, and EU cooperation. The Committee on Financial Development reports 87% of actions completed by end-2024.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-08-11•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) has charged Dino Delellis, aka Dean Delalis, with fraud and making a prohibited representation under the Securities Act, related to alleged misconduct affecting two Ontario investors. The OSC alleges Delellis misused investor funds for personal expenses, failed to invest as promised, and used a fake name to hide past securities misconduct. The charges stem from an OSC Enforcement Division investigation.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-11•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website https://bullcrestcopy.com, which is not associated with any FSA-licensed or regulated entity. The FSA advises investors and the public to perform due diligence before engaging in transactions or sharing personal information.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-08-11•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has released a draft memorandum for public comment, requiring sustainability reports from publicly listed companies and large non-listed entities using Philippine Financial Reporting Standards Sustainability Disclosure Standards. Implementation begins in fiscal year 2026, with tiered reporting based on market capitalization and potential mandatory assurance of greenhouse gas emissions. Penalties for non-compliance will align with existing frameworks for publicly listed companies, with further details for large non-listed entities to follow.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-08-11•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC issued a cease and desist order against an entity unlawfully using Una Amigo Lending Corporation's name for unregistered lending activities. The SEC directed the entity to stop all lending-related activities and misrepresentation following a complaint by Una Amigo Lending. The entity allegedly used unauthorized materials, including a fake website, SEC registration document, logo, identification cards, and office setup.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-11•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC warned against unlicensed online crypto-asset platforms, naming unregistered providers like OKX, Bybit, and Kraken. Risks include potential total loss of funds, fraud, and money laundering, referencing SEC Memorandum Circulars and the Anti-Money Laundering Act. The SEC may pursue legal actions, including cease and desist orders and criminal complaints, against violators.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-11•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democratic members of the U.S. Senate Committee on Banking, Housing and Urban Affairs urged Federal Reserve Vice Chair for Supervision, Comptroller of the Currency, and FDIC Acting Chairman to extend the comment period and conduct a thorough economic analysis of the proposal to reduce the enhanced supplementary leverage ratio (eSLR). They highlighted concerns about potential impacts on GSIB capital levels, systemic risks, and costs to the Deposit Insurance Fund and broader economy, emphasizing the need for robust impact analysis and clear rationale for the proposed changes.
Policy & regulationRules & requirementsCapital adequacyPrudential risks