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2025-07-31•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported June statistics, highlighting total bond issuance of CNY 8.79tn and total bond custody outstanding at CNY 188.5tn. Interbank cash bond trading reached CNY 34.3tn, while money market activities included interbank lending turnover of CNY 8.4tn and bond repo turnover of CNY 156.3tn. The report also noted commercial bill acceptances of CNY 3.5tn and discounts of CNY 2.8tn.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) reported that its Better Banking for Indigenous Consumers project led banks to refund over AUD 93 million to low-income Australians and migrate around one million customers to low-fee accounts, potentially saving AUD 50 million annually. Part of ASIC’s Indigenous Outreach Program, the initiative facilitated significant refunds for individuals, including pensioners and jobseekers. ASIC plans to continue advocating for improved consumer outcomes and anticipates further refunds, urging customers to review bank charges and consider switching to low-fee accounts.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-07-31•Europe•European Banking Authority
The European Banking Authority's Q4 2024 Dashboard on MREL shows most of the 345 EU banks meet requirements, with a EUR 2.3bn shortfall. Banks reported EUR 242bn of MREL instruments expected to become ineligible by end-2025 due to residual maturity under one year. Bail-in strategies dominated risk-weighted assets, while smaller banks favored transfer strategies.
Data & statisticsRecovery and resolution
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2025-07-31•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has issued a warning about a rise in fraud attempts involving criminals impersonating CSSF representatives to solicit tax payments and fees. The CSSF clarified it does not request payments, manage financial instruments, or provide fund recovery services. Examples of ongoing scams were also published.
SupervisionAlertsFraud and scams
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2025-07-31•Lithuania•Bank of Lithuania
The Bank of Lithuania has signed an agreement with Lithuania’s National Cyber Security Centre to enhance cybersecurity cooperation in the financial sector. This includes joining the National Cyber Incident Management Platform for real-time information exchange and coordinated incident response. The agreement aligns with Lithuania’s Law on Cybersecurity, the NIS2 Directive, and the Digital Operational Resilience Act, with more institutions expected to join.
Policy & regulationCooperationCyber resilience
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2025-07-31•Portugal•Bank of Portugal
The Bank of Portugal's June 2025 statistics show continued declines in rates for household term deposits and housing loans. New household term deposits totaled EUR 10.648 billion, mainly in short-term deposits, while new household lending reached EUR 3.083 billion, mostly for housing. A new BPstat subdomain for sector-level interest rates reflects declines across major sectors in Q2 2025.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-31•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) released RiskOutlook2.0, detailing findings from its semiannual survey of insurance companies and pension fund management entities on risk assessments as of 31 December 2024.
SupervisionRisk monitoring & watch pointsRisk analysis and outlook
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2025-07-31•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance announced that Euronext will acquire the Athens Stock Exchange, as reported by Minister Kyriakos Pierrakakis. The transaction is positioned as a significant foreign investment, enhancing funding options for Greek companies and bolstering Greece's market credibility. The government will review the agreement details and oversee its implementation.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-07-31•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance plans legislative measures to combat illegal gambling, targeting unlicensed websites and venues, focusing on player and minor protection. The initiative includes stricter sanctions, enforcement, and licensing rules, with nearly 800,000 citizens involved in illegal gambling activities amounting to EUR 1.67 billion. The measures are anticipated to take effect in autumn, alongside the proposed appointment of Antonis Vartholomaios as president of the Gaming Supervision and Control Commission.
Policy & regulationRules & requirementsOther
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2025-07-31•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority led a delegation to Beijing to meet with senior officials of the National Financial Regulatory Administration, including Party Secretary and Minister Li Yunze. Discussions focused on developments in the Mainland and Hong Kong insurance markets and enhancing bilateral regulatory cooperation. The delegation included IA Chairman Stephen Yiu, CEO Clement Cheung, and stakeholders from the Hong Kong Federation of Insurers.
Policy & regulationCooperationCross-border cooperation
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2025-07-31•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority fined Sigma Broking Limited GBP 1,087,300 for failing to submit accurate transaction reports over five years, breaching Article 26 of the UK Markets in Financial Instruments Regulation and Principle 3 of the FCA’s Principles for Businesses. The firm submitted approximately 924,584 incorrect reports due to system setup errors and reporting process weaknesses. This is the second enforcement action against Sigma, following a 2022 fine for similar failures.
EnforcementInvestigations & enforcement actionsRegulatory reporting
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2025-07-31•Belize•Central Bank of Belize
The Central Bank of Belize now allows authorised dealers to approve foreign currency purchases up to BZ$100,000 for prepaid imports without prior approval. Transactions exceeding this require Central Bank approval. Dealers can approve payments with a valid pro forma invoice, per Exchange Control Direction Number 5 (2025).
Policy & regulationRules & requirementsCross-border payments
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2025-07-31•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) secured a Court of First Instance order disqualifying Mr. Zhang Yuqing from directorial roles in any corporation in Hong Kong for six years. This follows an SFC investigation revealing Zhang's failure to disclose unauthorized fund transfers and undervalued asset disposals at Zhongda International Holdings Limited. Despite no personal gain, Zhang's actions led to misleading financial disclosures, warranting disqualification.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-31•Austria•Austria Financial Market Authority
The Austria Financial Market Authority (FMA) warned of fraud via WhatsApp groups offering "exclusive" stock tips and high returns, often impersonating financial media or services. Recent cases include fake profiles using Executive Director Helmut Ettl’s name and cloned social media profiles. The FMA advises verifying invitations, being wary of high-return offers, and reporting suspicious profiles to relevant platforms and authorities.
SupervisionAlertsFraud and scams
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported the Exchange Fund's assets rose to HKD 4,297.1 billion at end-June 2025, up HKD 137.7 billion from end-May, with the backing ratio at 111.54%. Hong Kong dollar assets increased by HKD 88.5 billion, and foreign currency assets rose by HKD 49.2 billion, influenced by interest income and investment revaluation. The Monetary Base decreased by HKD 4.7 billion to HKD 2,120.2 billion, mainly due to Hong Kong dollar purchases under the Currency Board arrangements.
Data & statisticsBalance of payments and other external statistics
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) published data on Hong Kong's foreign currency reserves and liquidity for June 2025, following the IMF's Template on International Reserves and Foreign Currency Liquidity. The HKMA adheres to the IMF's Special Data Dissemination Standard, issuing four Exchange Fund data press releases monthly, including three SDDS-related releases and one on the Exchange Fund's balance sheet and Currency Board Account.
Data & statisticsBalance of payments and other external statistics
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's June 2025 residential mortgage survey showed increases in mortgage applications, approvals, and drawdowns, with outstanding mortgage lending rising slightly. Mortgage applications rose 4.8% to 8,581, and loans approved increased 3.3% to HKD 27.5 billion. HIBOR-linked mortgages dominated new loan pricing, comprising 94.7% of the market.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported the Exchange Fund's unaudited financial position at end-June 2025, with investment income of HKD 194.4 billion for the first half of the year and total assets of HKD 4,297.1 billion. Gains were primarily from bonds, Hong Kong equities, other equities, and a positive currency translation effect on non-Hong Kong dollar assets. Total assets increased by HKD 216.1 billion from end-2024, with an accumulated surplus of HKD 877.9 billion.
Data & statisticsFinancial and market indicators
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert regarding fraudulent websites, a fake mobile application, and phishing messages linked to Welab Bank Limited. The HKMA emphasized that banks do not send messages 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 Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-07-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a decrease in residential mortgage loans (RMLs) in negative equity, with cases falling to 37,806 and the total value declining to HKD 190.2 billion as of end-June 2025. The unsecured portion also decreased, while the three-month delinquency ratio rose slightly to 0.21%. The survey, covering 99% of the industry, highlighted that most cases involved bank staff housing loans or RMLs under the mortgage insurance program.
Data & statisticsAsset quality
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2025-07-31•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced the dissolution and liquidation of the Alternative Investment Fund C.Q.I. Cyprus Quality Investment AIF V.C.I.C. PLC and its compartments, C.Q.I. Income Fund and CQI Growth Fund, following a shareholders' decision. The action, communicated by the external manager GMM Global Money Managers AIFM Ltd, complies with the Alternative Investment Funds Law of 2018. CySEC confirmed the AIF is in voluntary liquidation.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-31•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission's Q1 2025 bulletin reports 322 supervised management companies and collective investment undertakings with total assets under management (AUM) of EUR 10.7 billion, a 6.64% increase from Q4 2024. It details AUM distribution across management entities and investment allocations, highlighting significant investments in private equity and real estate. Additionally, 162 UCIs invest in Cyprus, with local investments totaling EUR 2.9 billion, representing 27.19% of total AUM.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-31•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 reminded financial entities of new regulations on insurance sold with loans, capping agent commissions at 10% of the premium. Lenders must not impose insurance requirements or limit insurer choice, emphasizing the voluntary nature of such insurance products. The law takes effect on 31 August 2025.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-07-31•Bulgaria•National Bank of Bulgaria
The Bulgarian National Bank will publish exchange rates of foreign currencies against the euro and vice versa, using European Central Bank rates, once Bulgaria adopts the euro. Concurrently, it will cease publishing gold prices in Bulgarian lev. This decision is based on Article 12(1) of the Currency Act.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-07-31•Bulgaria•National Bank of Bulgaria
The Bulgarian National Bank's Governing Council adopted three ordinances to implement the Law on the Introduction of the Euro in Bulgaria. Ordinance No. 46 outlines rules for the supply and distribution of euro cash, including starter kits and ATM loading. Ordinances No. 47 and No. 48 address banks' information obligations and procedures for exchanging damaged lev banknotes and coins into euros.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-31•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria has adopted Ordinance No. 18, establishing a national framework for quality control of euro banknotes and coins in circulation, aligning with EU rules. The ordinance outlines procedures for reproducing, replacing, and assessing euro banknotes and coins, including handling suspected counterfeits and compliance controls. It becomes effective with the new Law on the National Bank of Bulgaria.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-31•Bulgaria•National Bank of Bulgaria
The Governing Council of the National Bank of Bulgaria has set individual fees for 2024 to cover administrative costs, totaling BGN 36.839 million. This includes BGN 29.228 million for banking supervision, BGN 4.029 million for credit institution resolution, and BGN 3.582 million for payment supervision. The decision aligns with the Bulgarian National Bank Act and Ordinance No. 40.
Policy & regulationRules & requirementsMandate change
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2025-07-31•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority issued a Dear CEO letter to Designated Businesses under the Designated Businesses (Registration and Oversight) Act 2015, clarifying expectations for information submission and portal maintenance. The letter references the Designated Business Registration Website User Guide from December 2019 as supporting material.
Policy & regulationGuidance & interpretationAML and CFTSupervision process and methodologies
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2025-07-31•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has enhanced its supervision of insurers by mandating the submission of an Examination Form to assess governance and risk management. The form evaluates board performance and compliance risks, with findings revealing general compliance but some deficiencies in oversight and evaluation processes. The OIC is reviewing submissions and considering future cycles to align with insurers' risk profiles.
SupervisionRegulatory reportingSupervision process and methodologies
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2025-07-31•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) outlined a five-pronged strategy for the insurance sector's climate change response, focusing on supervisory tools, risk management, disclosure, investment flexibility, and product development. Key initiatives include climate-related stress testing for insurers, a Climate Risk Management Guideline, and an ESG disclosure framework. The OIC also emphasized green investment opportunities and product initiatives like microinsurance and crop insurance.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-31•Middle East•Arab Monetary Fund
The Arab Monetary Fund's quarterly bulletin reported a 1.55% quarterly and 6.73% annual rise in its composite index, with 11 Arab exchanges posting gains despite a 2.42% decline in total market capitalisation and an 8.04% drop in trading values. The index's performance was attributed to rising oil prices, easing global trade tensions, and accommodative monetary policies, including rate adjustments by major central banks.
Data & statisticsFinancial and market indicatorsMonetary policy decisions and developments
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2025-07-31•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority released FMA Practice 2024, detailing supervisory decisions and rulings from the FMA Board of Appeal, the Administrative Court, and the EFTA Court. Key cases include the rejection of an insurance acquisition due to unmet legal requirements and a financial intermediary deemed untrustworthy following convictions. The report notes 34 ongoing proceedings, 84 concluded, 18 fines totaling CHF 971,500, and 20 warnings.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-07-31•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has issued a banking licence to closed joint-stock company Vasl Bank for operations in national and foreign currency, following its conversion into a bank. The licence previously granted to limited liability company non-bank credit organisation Vasl has been invalidated.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-07-31•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina hosted a workshop with the Croatian National Bank to discuss Croatia's experience with implementing SEPA standards. The event aimed to support Bosnia and Herzegovina's EU integration by focusing on SEPA process management, payment infrastructure, and regulatory frameworks. The workshop was supported by Bosnia and Herzegovina’s Directorate for European Integration and Croatia’s Ministry of Foreign and European Affairs.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-07-31•Spain•Bank of Spain
Spain's net lending capacity rose to 3.9% of GDP (EUR 63.7bn) in the 12 months to May 2025, according to the Bank of Spain's data. The current account surplus decreased to 2.7% of GDP, while the capital account surplus increased to 1.2% of GDP. A larger tourism surplus offset a weaker non-tourism goods and services balance, with the financial account balance excluding the Bank of Spain falling to 3.6% of GDP due to a decline in other investment flows.
Data & statisticsBalance of payments and other external statistics
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2025-07-31•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC), alongside the Brazilian Federal Revenue Service and the Superintendence of Private Insurance, issued a joint normative instruction amending procedures for contribution-history information in pension portability transfers. The update extends deadlines for closed supplementary pension entities to obtain and transmit historical data, addressing challenges faced in meeting the original timeline.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-31•Brazil•Brazilian Pension Funds Authority (PREVIC)
Directors of the Brazilian Pension Funds Authority analyzed CNPC Resolution 61/2024, reintroducing the classification of Brazilian federal securities as "held to maturity" for certain pension plans. This change aligns pension entities' business models with asset management, enhancing stability and pension security while supporting federal public debt management. The authors discuss impacts, opportunities, and potential regulatory adjustments.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-07-31•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Central American Council of Superintendents of Banks, Insurance and Other Financial Institutions (CCSBSO) expanded its multilateral memoranda for cross-border supervision and elected its 2025–2027 board, with Dominican superintendent Alejandro Fernández W. as president. Ecuador's Superintendency of Banks joined as a member, and the assembly reviewed accountability reports and strategic progress. The Sustainable Finance for Development initiative concluded, advancing sustainability training and regional green taxonomy development.
SupervisionCooperationLeadership change and appointments
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2025-07-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines and the Bureau of the Treasury signed a memorandum to enhance systems for government securities trading and large-value fund transfers. The agreement covers the Philippine Peso Real-Time Gross Settlement System, PhilPaSSPlus, and the National Registry of Scripless Securities, aiming to improve security, efficiency, and resilience. BSP Governor Eli M. Remolona, Jr. noted potential collaboration on systemic risk management and capital market development.
Policy & regulationCooperationMarket infrastructure
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2025-07-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported that other financial corporations held PHP 10.6 trillion in domestic assets at the end of Q1 2025, marking a 4.9% quarterly and 14.6% annual increase. Sector liabilities rose to PHP 11.2 trillion, up 6.2% quarter on quarter and 16.2% year on year. Net foreign assets increased by 34.1% from the previous quarter to PHP 0.6 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-31•Slovenia•Slovenia Securities Market Agency
The Slovenia Securities Market Agency warned about increased cryptoasset activity and aggressive marketing, highlighting their speculative nature and lack of investor protection. The agency noted that the EU Markets in Crypto-Assets Regulation (MiCA) doesn't protect investors dealing with unauthorised firms and stressed compliance with regulatory requirements for issuers. Investors should verify EU authorisation, secure their assets, and be cautious with high-return promises.
SupervisionAlertsConsumer and investor protectionFinancial stability and systemic risk
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2025-07-31•New Zealand•New Zealand Financial Markets Authority
New Zealand's Financial Markets Authority announced that Southern Cross Benefits Limited admitted liability for breaches of fair dealing laws and paid NZD 1,105,000 under an enforceable undertaking. The insurer misrepresented discounts on premiums, affecting NZD 3,501,221, but cooperated with the investigation and fully remediated affected customers.
EnforcementInvestigations & enforcement actions
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2025-07-31•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has launched a public consultation on proposed amendments to CVM Resolution 160 concerning public offerings. Key changes include enhanced disclosure obligations in securitisation transactions, revisions to economic indicators for debt offerings, and transparency in expense allocation for mixed public offerings. The amendments also align Resolution 160 with new legal requirements for securities with tax benefits.
Policy & regulationRules & requirementsSecuritization
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2025-07-31•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia held a MyCIF roadshow in Kota Kinabalu to connect Sabah MSMEs with equity crowdfunding and peer-to-peer financing. Supported by Invest Sabah Bhd, the event featured networking and exhibitor booths with SC-registered platform operators. MyCIF, administered by the SC, has co-invested over RM1 billion in more than 70,000 campaigns, benefiting over 9,500 MSMEs, with total funds raised surpassing RM6 billion.
Policy & regulationImplementation, projects & pilotsCrowdfunding
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2025-07-31•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission, UNDP Insurance and Risk Finance Facility, and CARD Mutual Benefit Association hosted a peer-to-peer learning exchange on microinsurance distribution using the mutual benefit association model. Regulators and stakeholders from Bangladesh, Thailand, Vietnam, and the Philippines explored mutual models for expanding microinsurance coverage and supporting MBA growth. Field visits highlighted CARD MBA's operations, governance, and its role as the largest microinsurance provider in the Philippines.
Policy & regulationCooperationOther
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2025-07-31•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission amended the designation details for Petr Olegovich Aven under the Russia (Sanctions) (EU Exit) Regulations 2019, maintaining his asset freeze and trust services sanctions. Businesses must freeze relevant funds and assets immediately and report findings to the States of Guernsey Policy & Resources Committee, complying with the Sanctions Law 2018. Firms must also notify the Commission of any affected relationships and actions taken, following statutory reporting requirements.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released its IMF Special Data Dissemination Standard disclosure for end-June 2025, detailing international reserves and foreign currency liquidity. Official reserve assets were USD120,609.7 million, with short-term outflows of USD12,989.1 million and net short forward positions of USD22,601.5 million. The report indicates Malaysia's international reserves remain usable, with minimal contingent short-term net drains.
Data & statisticsBalance of payments and other external statistics
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2025-07-31•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission updated its cyber sanctions list, correcting details for 19 entries under the UK Cyber (Sanctions) (EU Exit) Regulations 2020. Businesses must freeze assets of listed individuals and entities, avoid providing them with funds or resources, and report findings to the States of Guernsey Policy & Resources Committee and the Commission. Compliance with reporting obligations under the Sanctions Law and Handbook Rule 12.37 is mandatory.
Policy & regulationRules & requirementsSanctions list update
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2025-07-31•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced that Durham College will increase Life Licence Qualification Program exam fees by CAD 1–2 from 1 August 2025. The new fees will be CAD 66.00 for both paper-based and electronic in-person exams, and CAD 84.00 for virtual online exams, with HST at CAD 0.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-07-31•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC and Meta have launched a campaign to raise awareness of online investment and payment scams. It aims to enhance public investment literacy and promote verification before investing, focusing on scams involving cryptocurrency, romance, fake assets, and public figure impersonation. The campaign advises checking SEC licensing, being wary of high-return offers, and using Meta's tools for scam prevention and account security.
Financial literacy & educationFraud and scams
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2025-07-31•United Kingdom•Bank of England
The Prudential Regulation Authority (PRA) has released a discussion paper seeking industry feedback on simplifying capital requirements for mid-sized firms under the internal ratings based (IRB) approach in the residential mortgage market. It explores using a "foundation IRB approach" for loss given default (LGD) with PRA-prescribed values and considers eligibility criteria and scope. The PRA is also examining potential changes to probability of default (PD) estimation.
Policy & regulationOtherCapital adequacy
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2025-07-31•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority announced that Mohammed Bouzoubaa's direct stake in TGCC fell below the 66.66% threshold to 61% following a capital increase. The prospectus for this capital increase was approved by the AMMC.
SupervisionRegulatory reportingCorporate governance
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2025-07-31•Russia•Central Bank of Russia
The Central Bank of Russia will allow unit investment funds (UIFs) to reclassify from 'qualified' to 'non-qualified' status starting 1 March 2026. This targets funds initially engaged in high-risk strategies, enabling a shift to conservative approaches post-asset commissioning. Management companies must comply with non-qualified investor requirements, including fully paid units and no termination grounds, before submitting revised documents for registration.
Policy & regulationRules & requirementsOther
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2025-07-31•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services seeks public feedback on potential changes to federal consumer financial data privacy law, particularly Title V, Subtitle A of the Gramm-Leach-Bliley Act (GLBA). The inquiry considers amending or replacing GLBA, establishing a federal preemptive standard, and revising key definitions. It also explores operational proposals like consent requirements for data collection and data retention limits.
Policy & regulationReform agendas & prioritiesData protection
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2025-07-31•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada (FCAC) released a supervisory highlight on complaint-handling procedures at small and medium-sized banks under the Financial Consumer Protection Framework. The review identified deficiencies, including failure to treat all consumer dissatisfaction as complaints and inconsistent adherence to the 56-day resolution timeline. Six banks were reviewed, informed of findings, and must take corrective actions, with FCAC monitoring compliance.
SupervisionReviews, inspections & stress testsComplaints and dispute resolution
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2025-07-31•Canada•Canadian Securities Administrators
The Canadian Securities Administrators announced leadership changes to its Investor Advisory Panel, appointing Jason Alcorn as Chair and Sophie Jean as Vice-Chair. Eric Spink's term as Chair ends on 31 August 2025. The CSA also reappointed four panel members to advise on policy and rule-making initiatives affecting retail investors.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-31•United States•Federal Reserve Board
The Federal Reserve Board, in coordination with other federal agencies and the Financial Crimes Enforcement Network, now allows banks and credit unions to use third-party sources to obtain customers' tax identification numbers. This optional method provides flexibility in verifying customer identities while maintaining risk-based procedures.
Policy & regulationGuidance & interpretationKYC
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2025-07-31•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Division of Market Oversight has adopted a no-action position for reporting counterparties that do not submit a swap data error correction notification, provided the error affects no more than five percent of their open swaps in the relevant asset class.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-31•Chile•Chile Financial Market Commission
The Chile Financial Market Commission announced workshops with private-sector representatives for its Capital Market Development Agenda, aiming to produce a Policy Document on Capital Market Modernization by mid-2026. The workshops will address corporate governance, small business financing, savings promotion, and market infrastructure. Over 200 proposals from various stakeholders have been received and will be published on the CMF's website.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-07-31•United States•U.S. Securities & Exchange Commission
SEC Chair Paul S. Atkins announced "Project Crypto" to modernize securities rules for on-chain financial markets. It involves drafting rules for crypto asset distributions, custody, and trading, aligning with the President’s Working Group on Digital Asset Markets recommendations. The SEC will explore regulatory adaptations for decentralized finance, on-chain software systems, and trading of tokenized securities.
Policy & regulationRules & requirementsFintech and insurtechBlockchain and distributed ledger technology
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2025-07-31•China•China Banking and Insurance Regulatory Commission
Li Yunze, Director of China's National Financial Regulatory Administration, met with Hong Kong Insurance Authority leaders to discuss recent developments in the Mainland and Hong Kong insurance markets. The meeting focused on enhancing bilateral regulatory cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-07-31•Macao•Monetary Authority of Macao
The Monetary Authority of Macao will implement the revised Insurance Intermediation Activity Law on 1 August, enhancing licensing and supervision of insurance intermediaries to better protect clients' rights. Key changes include stricter market entry requirements, a "principal" regime for oversight, and increased sanctions. New tools such as an online enquiry service and electronic reporting platform will support transparency and compliance.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-07-31•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) announced that Switzerland's Federal Department of Foreign Affairs has amended the annex to the ordinance on asset freezing related to Syria, effective 31 July 2025. Under the Federal Act on the Freezing and Restitution of Illicit Assets of Foreign Politically Exposed Persons, entities in Switzerland must freeze and report relevant assets to the Money Laundering Reporting Office Switzerland (MROS), particularly affecting financial intermediaries.
Policy & regulationRules & requirementsSanctions list update
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2025-07-31•Argentina•Argentina Superintendency of Insurance
Argentina's Superintendency of Insurance announced that the Revenue and Customs Control Agency issued General Resolution 5740/2025, exempting Employment Termination Insurance benefits from income tax withholding. This complements SSN Resolution 347/2025, which established parameters for the coverage, supporting the employment separation regime under Decree 847/2024. Together, these measures aim to consolidate economic protection for workers at termination.
Policy & regulationRules & requirementsOther
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2025-07-31•Moldova•National Bank of Moldova
The National Bank of Moldova has approved a new Regulation on the leverage ratio and amended related normative acts. These changes will take effect on 1 January 2026.
Policy & regulationRules & requirementsCapital adequacy
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2025-07-31•Moldova•National Bank of Moldova
The National Bank of Moldova and the Government of the Republic of Moldova announced a public event to commemorate the first anniversary of MIA Instant Payments for businesses and to unveil the system's extension to public services.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-07-31•Moldova•National Bank of Moldova
The National Bank of Moldova and the Government have introduced Person to Government (P2G) functionality in the MIA Instant Payments system, enabling citizens to make instant, secure, fee-free payments for over 120 public services via mobile banking. Integrated into the EVO application and MPay platform, it streamlines payments for education fees, taxes, and more. Since its March 2024 launch, MIA has processed over 9 million transactions, totaling more than MDL 8 billion.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-31•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury released Treasury Secretary Scott Bessent’s remarks at the White House launch of the Digital Assets Report, a blueprint for federal digital asset policy. The report includes over 100 recommended actions on issues like illicit finance, crypto taxation, stablecoins, and bank regulation modernization. Bessent emphasized the need for Senate action on market structure legislation, referencing the House’s CLARITY Act.
Policy & regulationGuidance & interpretation
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2025-07-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported a combined pre-tax loss of TWD 19.4bn for the insurance industry as of June 2025. Life insurers' pre-tax profit dropped 98.4% to TWD 3.5bn, while non-life insurers' profit rose 4.6% to TWD 15.9bn. Owners’ equity for life insurers decreased 16.0% to TWD 2,215.2bn, whereas non-life insurers' equity increased 4.9% to TWD 150.8bn. The Taiwan dollar's 9.63% appreciation against the US dollar since end-2024 contributed to a TWD 13.9bn rise in life insurers' foreign exchange valuation reserve, despite a TWD -522.0bn impact from exchange and hedging volatility.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that foreign-currency denominated products sold by the life insurance industry generated new-policy premium revenues of NT$151.444 billion as of end-May 2025, marking a 26% increase year on year. Investment-linked insurance products contributed NT$22.26 billion, reflecting a 21% growth, while traditional insurance products accounted for NT$129.184 billion, up 27% from the previous year.
Data & statisticsFinancial and market indicators
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2025-07-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported Q2 2025 data on life insurers' spillover-effect and in-kind payment insurance products. Spillover-effect insurance saw a 6% decline in new contracts but a 67% increase in first-year premium income. In contrast, in-kind payment insurance experienced a 78% rise in new contracts but a 53% drop in first-year premium income.
Data & statisticsSales and distribution
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2025-07-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission has opened applications for "digital insurers," supported by draft amendments expanding the scope for internet-only insurers. The framework mandates that innovative insurance products account for at least 20% of total premium income or policies sold annually, with specific reporting requirements. The regulations update governance structures, exempt new digital insurers from certain conditions, and emphasize fintech expertise in product review committees.
Policy & regulationRules & requirementsLicence approval
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2025-07-31•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority's July 2025 Insurance Risk Dashboard, based on Q1 2025 Solvency II and end-June 2025 market data, assesses the European insurance sector's risks as stable at a medium level but with a negative outlook due to geopolitical tensions and market volatility. Macroeconomic and credit risks are stable, while market risks remain a concern due to fixed income volatility. Liquidity, funding, and insurance-specific risks are stable, but rising ESG, cyber, and digitalisation risks warrant close monitoring.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskPrudential risks
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2025-07-31•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released its July 2025 Risk Dashboard for Institutions for Occupational Retirement Provision (IORPs), indicating stable overall risks at medium levels but highlighting vulnerabilities due to market volatility and geopolitical uncertainty. Market and asset return risks are high, with liquidity risks rising despite comfortable stock-based indicators. The dashboard covers defined contribution and defined benefit schemes in the European Economic Area, using data from 625 IORPs and market information up to June 2025.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMarket risk and volatilityLiquidity risk
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2025-07-31•United Arab Emirates•Dubai Virtual Assets Regulatory Authority
Dubai’s Virtual Assets Regulatory Authority (VARA) reminded Virtual Asset Service Providers (VASPs) and commercial entities of the requirements for Virtual Asset (VA) proprietary trading. Entities must have a valid commercial trade licence with the activity code “VA Proprietary Trading” and a VARA No Objection Certificate (NoC). VARA emphasized the need for an assessment to determine regulatory oversight and maintain a consolidated emirate-level registry of entities engaged in VA activities.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-07-31•United Arab Emirates•Dubai Virtual Assets Regulatory Authority
Dubai’s Virtual Assets Regulatory Authority (VARA) reminded Virtual Asset Service Providers (VASPs) of the licensing requirements for conducting Virtual Asset (VA) proprietary trading. Entities must undergo regulatory assessment, obtain a No Objection Certificate (NoC), and hold a valid commercial trade licence with the activity code VA Proprietary Trading. Entities without a valid licence are in breach of VARA Regulations 2023.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-07-31•United Arab Emirates•Central Bank of the UAE
The UAE Central Bank's report on the Digital Dirham project details achievements and ongoing R&D as it nears the launch of the central bank digital currency. It outlines design principles, policy frameworks, and references standards from the IMF and BIS. The report highlights collaboration with the financial sector, intended capabilities like offline usability and cross-border transactions, and aligns with the Central Bank’s Financial Infrastructure Transformation programme.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-07-31•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has revoked the licence of Gomti Exchange and removed it from the Register due to significant non-compliance with Anti-Money Laundering and Combating the Financing of Terrorism regulations. This enforcement action follows examinations under Article (137) of Decretal Federal Law No. (14) of 2018. The CBUAE emphasized the obligation of exchange houses to adhere to UAE laws and CBUAE standards.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-07-30•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved TBI Bank EAD's EUR 34 million bond issue prospectus and licensed Manikyan Capital AD as a management company. It also made governance decisions, including board position approvals and refusals for various insurance companies and an investment intermediary. Additionally, the FSC requested more information from Up Trend Ltd. on passporting notification data for services in multiple European countries.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-30•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia and El Salvador’s National Commission of Digital Assets signed a memorandum of understanding to enhance cooperation on cryptoassets and virtual assets. The agreement focuses on technical and regulatory knowledge-sharing, including blockchain intelligence tools and risk analysis. This comes amid a significant increase in Bolivia's virtual-asset usage, rising from 46.5 million USD to 294 million USD within a year.
Policy & regulationCooperationCross-border cooperationRegtech and suptech
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2025-07-30•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance and Public Credit released the 2024 Performance Evaluation of Multiple Banking Institutions, rating 45 out of 49 banks as “Satisfactory,” with Banco Shinhan de México rated “Not satisfactory.” The evaluation focuses on banks' contributions to productive development and inclusive growth, excluding financial condition assessments. The Strategic Outlook uses these results to propose strategies for enhancing access, efficiency, and depth in Mexico’s financial system.
SupervisionReviews, inspections & stress testsActivity and performance reporting
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2025-07-30•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) highlighted issues in the pension system, including irregular contributions and limited member awareness of their pension fund administrator. SIPEN noted a structural gap with only 2.3 million of 5.4 million affiliates contributing regularly and clarified survivor benefits procedures. The briefing reiterated contribution parameters and emphasized the importance of member engagement with account statements and pension simulation tools.
Financial literacy & educationOther
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2025-07-30•Dominican Republic•Pensions Superintendency (SIPEN)
Francisco A. Torres, superintendent of the Dominican Republic's Pensions Superintendency (SIPEN), highlighted structural challenges in the pension system, emphasizing inclusivity and sustainability amid labor market changes. He noted the system's bias towards dependent employees, disadvantaging informal and self-employed workers, and stressed the importance of stronger retirement savings habits. Torres assured that affiliates' funds are protected and reported a historical return of 11% (5% in real terms), surpassing the regional average.
Policy & regulationReform agendas & priorities
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2025-07-30•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority released a discussion paper on responsible AI use in financial services, proposing supervisory expectations and seeking industry feedback. It advocates a principles-based, outcomes-focused approach, integrating AI governance into existing risk frameworks and assigning accountability to boards. Key proposals include risk-proportionate governance, data governance, model validation, transparency, and specific controls for generative and agentic AI.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-07-30•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) reported a slight decrease in investor complaints and enquiries for 2024, with 1,220 files closed and 759 complaints admitted, down 14.3% from 2023. Firms rectified issues in 80.5% of investor-favourable cases, and 87% of outcomes involved favourable reports, concessions, or agreements. Most complaints related to post-sale information, fees, and pre-sale information, with 59.4% linked to collective investment undertakings.
SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
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2025-07-30•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia and El Salvador’s National Commission of Digital Assets have signed a memorandum to enhance cooperation on digital assets, including cryptoassets for international transactions. The agreement focuses on sharing technical and regulatory expertise, particularly in digital asset traceability and blockchain intelligence tools. This collaboration is linked to a significant increase in Bolivia's virtual asset usage, rising from USD 46.5 million to USD 294 million between June 2024 and June 2025.
Policy & regulationCooperationFintech and insurtechDomestic cooperation
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2025-07-30•Israel•Bank of Israel
The Bank of Israel's Banking Supervision Department reported a modest decline in household banking service costs for 2024, with average monthly fees dropping to NIS 25, largely due to a post-war assistance program. The report also noted increased fee income from large business clients, a NIS 3 billion relief package effective April 2025, and a draft fee reform under public consultation.
SupervisionRisk monitoring & watch pointsActivity and performance reporting
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2025-07-30•Europe•European Banking Authority
The European Banking Authority released metadata, a data dictionary, and a guide for automating analysis of the 2025 EU-wide stress test data. This aims to assist users in preparing for the data's release on 1 August.
Policy & regulationGuidance & interpretationSupervisory dataFinancial and market indicators
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2025-07-30•Global•Bank for International Settlements
The Bank for International Settlements’ Financial Stability Institute released FSI Insights No 67, examining the use of public resources in bank resolution when internal loss-absorbing capacity is insufficient. The report highlights the necessity of public backstops to maintain financial stability, advocating for their integration as last-resort tools with clear governance and conditionality. It notes a trend towards indirect support models, such as loans to deposit insurance funds, and discusses examples like the FDIC's loss-share arrangements and the Swiss treasury's guarantee to UBS.
ResearchRecovery and resolution
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2025-07-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) proposes revisions to its ADI licensing framework to streamline and expedite the process for new entrants like banks and credit unions. The changes include explicit licensing criteria, a 12-month compliance requirement, and a three-month decision timeline. The review notes the framework's success but seeks improved clarity and efficiency, citing limited use of the Restricted ADI pathway.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) is consulting on changes to its authorised deposit-taking institution licensing framework to simplify and expedite the process, with a 12-month application period and a three-month decision target. Feedback is sought on the Restricted ADI pathway, with submissions due by 31 October 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-30•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) released its Weather Events Claims Insights report, highlighting improvements and necessary changes in claims handling by seven insurers after the 2023 Auckland Anniversary Weekend Floods and Cyclone Gabrielle. Based on a self-reflection survey, the report will guide supervisory workplans under the Conduct of Financial Institutions regime, focusing on communication, project management, consumer vulnerability, resourcing, complaints handling, and business continuity.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-07-30•Peru•Central Bank of Peru
The Central Bank of Peru reported a 5.8% year-on-year increase in the outstanding stock of housing loans, reaching PEN 72,585 million in June 2025. Growth was primarily driven by mortgages in soles, which rose 6.9% year on year. Mortgage credit dollarisation decreased to 6.6% from 7.9% in December 2023.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-30•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC has initiated Federal Court civil penalty proceedings against Mount Pritchard District and Community Club (Mounties) for alleged serious breaches of Australia's anti-money laundering and counter-terrorism financing (AML/CTF) framework. Allegations include inadequate risk assessment, insufficient staff training, and failure to maintain a compliant AML/CTF program, particularly in outsourced aspects to Betsafe. The Federal Court will decide on the contraventions and potential orders.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-30•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority (COSOB) has granted the first approval for the creation of a Fonds Commun de Placement à Risque (FCPR) in Algeria, authorizing the Afiya Investments fund to be established under the management of investment fund management company Tell Markets.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-30•Australia•Australian Securities & Investments Commission
ASIC has initiated a consultation on updates to Regulatory Guide 181 for managing conflicts of interest by AFS licensees. The revisions align the 2004 guidance with current legal developments and insights from ASIC's surveillance. The draft outlines the legal framework, conflict types, and the need for tailored arrangements, including obligations under section 912A(1)(aa) of the Corporations Act 2001. Findings on auditors' compliance will be released in 2025.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-30•Australia•Australian Securities & Investments Commission
In a keynote speech, ASIC Chair Joe Longo announced increased surveillance, consumer messaging, and enforcement to combat misconduct in superannuation switching into high-risk investments. Highlighting a rise in complaints, Longo cited cases involving over AUD 1 billion. Current actions include a consumer awareness campaign and intensified enforcement, with new investigations nearly doubling. ASIC plans to review platform trustee practices and scrutinize advice licensees, while considering law reforms on conflicts of interest and higher standards for gatekeepers.
EnforcementInvestigations & enforcement actions
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2025-07-30•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has permanently banned Emmanuel Adu from credit activities after he falsified Australian Federal Police certificates to hide his criminal history in job applications. Convicted on 26 November 2024 for document falsification under the Criminal Code Act 1995, Adu is prohibited from participating in or controlling credit activities, with the ban effective from 1 July 2025 and recorded on ASIC’s banned and disqualified register.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-07-30•Australia•Australian Securities & Investments Commission
ASIC has imposed a five-year ban on Ian Wailes Potter from providing financial services or managing a financial services business. This action is due to his role at Superannuation Advice Australia Pty Ltd, where advice was not in clients' best interests, lacked proper inquiries, and included misleading projections. The ban, effective from 25 July 2025, is on ASIC’s Banned and Disqualified Register, with an appeal option.
EnforcementSanctions & designationsSupervision process and methodologies
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2025-07-30•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority announced the launch of the Bermuda Sanctions Alert Subscription Service by the Bermuda Financial Sanctions Implementation Unit. This service provides real-time updates on sanctions developments, including those from the United Nations and the United Kingdom, and allows users to customize alert preferences. The Authority encouraged supervised entities to subscribe.
Policy & regulationImplementation, projects & pilotsSanctions list update