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2025-07-28•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia participated in an MoU signing between the Cambodia Association of Securities Firms and the Credit Guarantee Corporation of Cambodia to enhance cooperation in the securities market. Concurrently, SERC and partners launched "CSBA Phase III" to support the issuance of green and sustainability-linked bonds, aligning with Cambodia's climate priorities.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-28•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission (SEC) suspended Jia Financing Inc.'s certificate of authority for 60 days due to operating an illegal website and failing to disclose new loan products. The SEC ordered the removal of jia.ph for violating a moratorium on new online lending platforms and imposed a PHP10,000 penalty. Jia Financing's business plan also failed to disclose its lending operations, contravening SEC requirements.
EnforcementInvestigations & enforcement actionsLicence withdrawal
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2025-07-28•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has revoked the corporate registration and lending authority of Convenience Cash Lending Corp., operating as Zada Cash and Bloom Cash, due to unfair debt collection practices. This action followed over 600 complaints, including threatening messages and inappropriate delivery of funeral services to borrowers. Additionally, the company failed to comply with registration requirements under Republic Act No. 11765.
EnforcementInvestigations & enforcement actionsLending
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2025-07-28•United Kingdom•Bank of England
The Bank of England's Prudential Regulation Authority (PRA) fined Barents Reinsurance S.A., London Branch GBP 1,785,000 for governance and regulatory reporting failings, marking the first fine for a firm operating solely as a reinsurer. Barents failed to prepare for post-EU exit regulatory impacts and had inadequate governance and reporting systems, breaching several rules. Cooperation and early admissions reduced the penalty by 45%, with Barents now in supervised run-off, winding down its UK operations.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-28•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority released its June 2025 disclosure on transactions under listed companies' share buy-back programmes and liquidity contracts. For Maroc Telecom, the programme allows up to 10,165,623 shares with specific price limits, while BCP's programme authorises up to 1,500,000 shares. The report details execution volumes, weighted-average prices, and distinguishes between buy-back and liquidity contract activities.
Data & statisticsOther
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2025-07-28•Namibia•Bank of Namibia
The Bank of Namibia, in collaboration with the Ministry of Finance and NAMFISA, launched the Namibia Financial Sector Transformation Strategy 2025–2035. The strategy addresses challenges such as inequality, limited access to finance, and climate vulnerability, aiming to modernize and make the financial system more inclusive. It aligns with Vision 2030 and the Sixth National Development Plan to drive national transformation.
Policy & regulationReform agendas & prioritiesFinancial inclusionMarket development
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2025-07-28•Russia•Central Bank of Russia
The Central Bank of Russia's July 2025 monitoring results show a decline in maximum interest rates on Russian-ruble household deposits among the top 10 credit institutions, with rates dropping from 17.91% to 17.22% over the month. The report excludes special-category deposits and conditional rates, providing average maximum rates by maturity: 16.61% (up to 90 days), 16.94% (91 to 180 days), 16.25% (181 days to one year), and 14.69% (over one year).
Data & statisticsFinancial and market indicators
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2025-07-28•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets met with Bpifrance experts under the EU4Innovation East mission to enhance innovation financing. Discussions focused on a Fund of Funds for startups, attracting venture capital, and aligning regulations with EU standards for alternative investment vehicles. Led by CNPF Chair Dumitru Budianschi, the initiative aims to improve investor protection and access to finance for innovative enterprises.
Policy & regulationCooperationMarket development
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2025-07-28•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has amended its guidance to allow banks a one-year transition period before prohibiting loans to directors, general representatives, and related parties. This prohibition, outlined in the General Banking Act and Chapter 12-12 of the Updated Compilation of Banking Regulations, includes direct or indirect lending to these individuals and their close associates. Circular Letter No. 2,366 establishes this timeframe, following clarifications in Circular Letter No. 2,364 regarding the scope of related parties.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-28•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision updated its guide to internal models, reflecting changes under CRR3 and the revised Basel framework. Key updates include expectations for machine learning, credit risk model validation, and senior management responsibilities, alongside adjustments for market and counterparty credit risk. The revision aims to enhance transparency and harmonisation, with internal models accounting for about 60% of credit risk-weighted exposure for significant banks as of June 2024.
Policy & regulationGuidance & interpretationCapital adequacySupervision process and methodologies
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2025-07-28•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Region 14 branch and the Can Tho City People’s Committee held a conference to promote credit growth, reviewing local banking conditions and setting priorities for the latter half of 2025. As of 30 June 2025, deposits in Can Tho rose by 3.43% to VND 216.438 trillion, and outstanding credit increased by 6.85% to VND 308.477 trillion, with a non-performing loan ratio of 2.62%. Discussions focused on credit growth, non-performing loan resolution, and challenges in implementing SME credit guarantees.
Policy & regulationCooperationLendingMarket development
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2025-07-28•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chairman Wu Qing and Swiss Financial Market Supervisory Authority Chair Marlene Amstad discussed enhancing bilateral and multilateral supervisory dialogue and cooperation in regulatory technology during a video meeting on 24 July 2025.
SupervisionCooperationCross-border cooperation
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2025-07-28•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission has directed local regulators, property insurers, and industry bodies to enhance disaster response and expedite insurance claims amid severe flooding in Beijing and Hebei. Insurers are urged to activate contingency plans, mobilize resources for claims adjustment, and provide targeted support to affected regions. The notice emphasizes simplified claims processes, proactive services, and improved assessment efficiency through mechanisms like the motor insurance catastrophe survey mutual-recognition.
SupervisionInterventionsOther
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2025-07-28•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury issued the Customs and Excise Acts (Application) (Amendment) Order 2025, updating the import and export control framework effective 1 August 2025. The Order enforces UK legislation against importing or exporting counterfeit currency, with penalties including fines and up to 14 years' imprisonment. It also mandates fireworks importers to notify authorities in advance, with non-compliance penalties of up to GBP 10,000 and six months' imprisonment.
Policy & regulationRules & requirementsOther
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2025-07-28•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre (DIFC) reported its strongest first-half performance, driven by record new firms and growth in employment and regulated financial services. Active registered companies rose to 7,700, with 1,081 new additions in H1 2025, and the workforce expanded to 47,901 professionals. Dubai Financial Services Authority-regulated entities increased to 980, and financial services authorisations rose to 78. DIFC also highlighted proposed Variable Capital Company Regulations, legal updates, and announced Dubai Future Finance Week for May 2026.
Policy & regulationRules & requirementsActivity and performance reporting
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2025-07-27•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority (CMA) approved prioritizing public debt offering reviews for issuers with a CMA-licensed credit rating, effective until the end of 2026. This aims to enhance market transparency, encourage credit ratings, broaden investor participation, and expedite reviews. Credit ratings assess default likelihood and potential loss severity.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-27•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority (CMA) approved prioritizing public offering reviews for debt instruments with a CMA-licensed credit rating, effective until end-2026. This aims to enhance market efficiency and transparency, broaden investor participation, and expedite CMA reviews. Credit ratings are crucial for investor risk assessment and aiding financial advisers in marketing to institutional and qualified investors.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-27•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) supported the establishment of the China Capital Market Society, electing CSRC Chair Wu Qing as president and Vice Chair Li Chao as executive vice president. The society will focus on areas including market stability, innovation, and international markets, and plans to build a digital research platform, launch an academic journal, and serve as a policy advisory platform.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-26•Nigeria•Nigeria Securities & Exchange Commission
The Nigeria Securities and Exchange Commission (SEC) announced it does not recognize The Tourist Company of Nigeria Plc's (TCN) Annual General Meeting held on July 25, 2025, due to its suspension. Resolutions from the meeting, including changes to board composition, are invalid. The SEC will uphold its regulatory oversight, maintaining the current board and SEC-appointed independent directors, and will use legal measures to protect investors and ensure market discipline.
SupervisionInterventionsCorporate governance
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2025-07-25•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has authorized SAVINGS – Sociedade Distribuidora de Valores Mobiliários (SDVM), S.A. to operate as a securities distributor. The authorization includes client order handling, market execution, own account dealing, and various advisory and financial services, including public offerings and foreign exchange services.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-25•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority released provisional Q1 2025 market statistics, showing total gross premiums of HKD 220.3 billion. Long term business saw a 43.1% increase in new office premiums to HKD 93.4 billion, while general business gross premiums reached HKD 31.2 billion. The authority will not publish separate statistics on Mainland visitors during a review of data collection criteria for non-local policyholders.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-25•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro adopted regulations to align its credit institutions framework with the EU Capital Requirements Directive and Regulation, fulfilling Benchmark 1 under Negotiation Chapter 9 on Financial Services. The package includes eleven decisions and five regulations for supervising the Development Bank, alongside amendments to the 2025 financial plan addressing SEPA implementation timelines, increased penalty revenues, and expenditures for EU reforms and digital upgrades.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-07-25•Angola•Angola Capital Markets Commission
Angola’s Capital Markets Commission, represented by Executive Administrator Vasco Januário, participated in the 40th Luanda International Fair, highlighting its regulatory and supervisory role in investor protection and market integrity. The discussion covered transparency, accountability, and reporting expectations for securities issuers and financial intermediaries, as well as financial literacy initiatives for investor preparedness.
Policy & regulationGuidance & interpretationMarket development
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2025-07-25•Europe•European Banking Authority
The European Banking Authority will publish the results of the 2025 EU-wide stress test on 1 August 2025. The test includes a baseline scenario based on December 2024 national central bank projections and an adverse scenario reflecting financial stability risks identified by the European Systemic Risk Board. The methodology aligns with the new EU banking package effective from 1 January 2025, covering 64 banks.
SupervisionReviews, inspections & stress testsStress testing
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2025-07-25•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance has blocked the bank accounts of Hernán Bermúdez Requena and associated entities amid a financial investigation. The Financial Intelligence Unit (UIF) ordered the asset freeze due to suspected illicit activities, including money laundering and tax simulation schemes. Concurrently, the Ministry of the Interior suspended operations of gaming companies linked to relatives of Tabasco's former public security secretary.
EnforcementSanctions & designationsBribery and corruptionAML and CFT
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2025-07-25•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) has issued a public warning and updated its blacklist of websites offering crypto-assets or related services illegally in France, adding 19 new names since 2025. The blacklist is accessible on the AMF and Assurance Banque Épargne Info Service websites and is updated frequently. Users are advised to consult the AMF's whitelist of authorised Digital Asset Service Providers and Crypto-Asset Service Providers to verify legitimacy.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-25•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro is consulting on draft amendments to its rulebook regarding the content, method, and deadlines for reports and notifications submitted to the supervisor. The draft text and comment submission template are available for download.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has approved a procedure for returning blocked assets to clients of Freedom Finance Ukraine LLC, marking the final regulatory step. It outlines eligible entities, client entitlement confirmation, and exclusions due to sanctions or opaque ownership. The mechanism will launch after an official adjustment, with detailed instructions and a client list forthcoming.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-07-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted new procedures for asset return and financial sanctions enforcement, including fines for legislative breaches. Amendments were made to decisions and draft legislation concerning the Deposit Guarantee Fund, National Bank of Ukraine, and collective investment institutions. The Commission updated registration, licensing, and supervision protocols, terminated PrJSC Stock Exchange Perspektiva’s clearing licence, and approved share issues for various entities.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-25•Latvia•Central Bank of Latvia
The Central Bank of Latvia released Working Paper 3/2025, "Details Matter: Loan Pricing and Transmission of Monetary Policy in the Euro Area," examining the relationship between loan pricing and monetary policy transmission in the euro area.
ResearchLending
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2025-07-25•Latvia•Central Bank of Latvia
The Central Bank of Latvia published Working Paper 3/2025 titled “Details Matter: Loan Pricing and Transmission of Monetary Policy in the Euro Area.”
ResearchLending
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2025-07-25•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has set the reference interest rate at 11.53% under Article 314A of the Penal Code Law, Cap. 154. Exceeding this rate in financial transactions related to loans or payment terms is an offence, punishable by up to five years' imprisonment or a fine of up to EUR 30,000, or both.
Policy & regulationRules & requirementsFinancial benchmarks
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2025-07-25•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported an acceleration in deposit inflows and loan growth for June 2025, with total deposits rising by EUR 654.7 million (7.1% annual growth) to EUR 56.6 billion and total loans increasing by EUR 672.3 million (6.8% annual growth) to EUR 26.3 billion. Deposits from Cyprus residents grew by EUR 652.7 million, driven by non-financial corporations and households, while loans to residents increased by EUR 471.1 million, mainly to households and non-financial corporations.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-25•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its third Payment Statistics report for H2 2024, detailing developments in non-cash payment instruments and public use of payment cards and terminals. The report, based on data from Cyprus-resident payment service providers, will be published semi-annually in Greek and English.
Data & statistics
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2025-07-25•West Africa•Central Bank of West African States
The Central Bank of West African States’ Banking Commission imposed disciplinary and pecuniary sanctions on five banks in Benin, Burkina Faso, Niger, Senegal, and Togo for regulatory breaches. Three banks were fined XOF 300 million each, while two received XOF 151 million fines for governance, risk management, and anti-money laundering deficiencies. The penalties were based on second and third category infringements under Instruction No. 006-05-2018.
EnforcementInvestigations & enforcement actionsAML and CFTCorporate governance
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2025-07-25•Peru•Central Bank of Peru
The Central Bank of Peru reported a 9.3% year-on-year expansion in the agricultural and livestock sector for May, attributed to improved climatic conditions. Agricultural activity rose 11.6%, with export production up 33% due to a rebound in olive and avocado harvesting and increased cocoa output. Livestock activity grew 3.3%, driven by a 3.9% increase in poultry production.
Data & statisticsEconomic data and developments
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2025-07-25•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC has concluded its enforceable undertaking with NAB after the bank improved compliance with AML/CTF laws. An independent auditor confirmed NAB's compliance and suggested further enhancements, which NAB agreed to implement. AUSTRAC emphasized that the finalization does not equate to a "clean bill of health," urging NAB to continue strengthening its AML/CTF controls.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-25•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) supports law enforcement actions against Adrian Asharyanto Gunadi, former President Director of PT Investree Radhika Jaya, wanted for alleged financial crimes. OJK criticized Qatar's approval of Gunadi as CEO of JTA Investree Doha Consultancy and plans to enhance coordination with law enforcement. Previous measures include revoking Investree's business license, banning Gunadi from controlling roles, and designating him a suspect in an unlicensed fundraising case.
EnforcementInvestigations & enforcement actions
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2025-07-25•Georgia•National Bank of Georgia
The National Bank of Georgia released interactive press releases detailing trends in resident commercial banks' loan portfolios and deposits as of June 2025. These are accessible in the statistics section of its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-25•Georgia•National Bank of Georgia
The National Bank of Georgia conducted training seminars under its Educational Space initiative, focusing on non-bank sector resilience, transparency, and reporting. The sessions provided practical guidance on financial reporting, operational risk reduction, corporate governance, and anti-money laundering measures. Participation increased significantly, with nearly 200 representatives from currency exchange offices attending.
Policy & regulationGuidance & interpretationFinancial literacy and education
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2025-07-25•Georgia•National Bank of Georgia
The National Bank of Georgia welcomed American Express's decision to open its payment scheme in Georgia, allowing access to all eligible financial institutions. American Express plans to collaborate with interested banks for card issuance and acquisition. This development is linked to promoting competition in the payments industry, with Georgia's legislation emphasizing fair access to payment systems.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-07-25•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has intensified efforts to recover penalties, collecting PKR 26 million, or 30% of fines levied in the financial year 2024-25. Recovery actions involve periodic communications, legal proceedings, and collaboration with the Land-Revenue Department and High Courts. Excluded are PKR 334 million in penalties against four unlisted companies for illegal deposit-taking, with recovery proceedings underway.
EnforcementEnforcement statistics
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2025-07-25•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has reiterated the obligation for supervised entities to report ICT-related incidents as per Circular CSSF 25/893 and/or Circular CSSF 24/847, regardless of public or media attention. Entities must review and adhere to the reporting thresholds, timelines, and procedures.
SupervisionRegulatory reportingCyber resilience
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2025-07-25•Lithuania•Bank of Lithuania
The Bank of Lithuania released June 2025 MFI balance sheet and interest rate statistics, highlighting a EUR 337.9 million (0.8%) increase in deposits by Lithuanian residents and a EUR 400.4 million (1.3%) rise in loans. Household deposits grew by EUR 324.8 million (1.3%), while non-financial corporation deposits decreased by EUR 137.0 million (1.3%). Interest rates on new loans and deposits declined, with household loan rates at 5.01% and non-financial corporation loan rates at 4.53%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-25•Lithuania•Bank of Lithuania
The Bank of Lithuania's Q1 2025 Banking Activity Review highlights continued lending growth, increased deposits, and strong capitalisation, despite declining net interest income due to lower rates. Sector profitability remains high, with net profit up 2.7% year on year to EUR 267.3 million, though return on assets and equity have decreased. The review also notes recurring cyberattacks and financial fraud challenges, with banks enhancing ICT risk management under the Digital Operational Resilience Act.
SupervisionRisk monitoring & watch pointsLendingAsset quality
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2025-07-25•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has launched a consultation on reforms to the UK listing regime, proposing a new UK Listing Rules sourcebook and a simplified structure to replace the current premium and standard segments. Key changes include a single "commercial companies" category, removal of certain premium-listing eligibility requirements, and a shift towards a disclosure-based approach for transactions. The proposals also address significant transactions, related party transactions, dual or multiple class share structures, and recalibration of the sponsor regime.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-25•Portugal•Bank of Portugal
The Bank of Portugal released updated June 2025 statistics on loans and deposits for households and companies, showing household credit growth at 7.4% year on year and mortgage lending up 7.3%, the highest since August 2008. Corporate lending increased by 3.6%, the highest since January 2022, while household deposits rose 5.2%, marking an eighth consecutive month of deceleration. The data series were revised back to June 2022 due to improved data sources.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-25•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a central government budget deficit of EUR 564 million for January–June 2025, well below the EUR 2.795 billion target, and a primary surplus of EUR 4.519 billion, exceeding the EUR 2.235 billion target. Net revenues were EUR 34.381 billion, 1.4% above target, driven by higher tax receipts, despite the delayed EUR 1.350 billion concession payment for the Egnatia Odos motorway. Expenditure was EUR 1.746 billion below target due to timing effects, with delayed transfer and defence procurement payments.
Data & statisticsOther
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2025-07-25•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has banned Jes Staley, former Barclays CEO, from senior management roles in financial services and imposed a £1.1m fine, following the Upper Tribunal's support. The case involved misleading statements approved by Staley about his relationship with Jeffrey Epstein, with evidence of continued contact beyond claimed dates. The Tribunal reduced the fine from £1.8m due to Barclays' decision not to allow Staley to receive deferred shares.
EnforcementSanctions & designationsWhistleblowing
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2025-07-25•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau announced the appointment of five new members and the reappointment of 22 members to the Insurance Appeals Tribunal (IAT) for a term from 26 July 2025 to 25 July 2027. The IAT, under the Insurance Ordinance, reviews decisions made by the Insurance Authority, with hearings comprising the chairperson and two ordinary members.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-25•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) appointed Liam Coleman as interim chair of the Financial Ombudsman Service, effective 10 October 2025, after Baroness Zahida Manzoor CBE's departure. Coleman will lead the board temporarily until a permanent chair is found, leaving his role as a non-executive director on the FCA board. Concurrently, the FCA and the Ombudsman are modernizing the financial services redress system, planning to consult on varying case fees to enhance resolution efficiency and fairness.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-25•Ghana•Securities and Exchange Commission Ghana
The Securities and Exchange Commission Ghana warned of rising fraudulent investment schemes lacking SEC licensing, urging the public to avoid offers with scam indicators. These schemes misuse public figures' images, AI-generated content, operate on unverifiable platforms, and promise high returns. The SEC is working with law enforcement to dismantle these operations and advises investors to verify the licensing status of entities offering investment products.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-07-25•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) conducted "Leverage," targeting a syndicate suspected of share manipulation and corruption, arresting a company's former chairman and executive director. Searches at 14 locations uncovered false documents and market manipulation involving over HKD 20 million. The ICAC investigates corruption, while the SFC addresses market misconduct under the Securities and Futures Ordinance.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-07-25•Global•World Bank
The World Bank's Angola Economic Update stresses inclusive financial development to sustain growth and reduce poverty after a 4.4% GDP increase in 2024. The report projects a 2.9% average growth from 2025 to 2027, highlighting the need for diversification beyond oil. It recommends enhancing digital payments, MSME finance, and insurance access, while addressing financial service inequalities, especially in rural areas.
ResearchFinancial inclusion
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2025-07-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public scam alert following reports of bank-related fraud involving fake websites and phishing emails. The alert highlights that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-25•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) warned about fraudulent websites falsely claiming CySEC affiliation to help investors recover losses. Identified sites include getyourmoneyback.ltd and chargebackinternational.com, targeting online fraud victims for personal and financial information. CySEC clarified it does not contact individuals unsolicited, request personal data, or authorize compensation schemes, urging investors to verify communications before acting.
SupervisionAlertsFraud and scams
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2025-07-25•Global•Ceres
Ceres appointed Steven M. Rothstein as Chief Program Officer, overseeing all programmatic work to advance its mission globally. Rothstein's leadership at the Ceres Accelerator included advocacy with financial regulators and initiatives like the US SEC's climate-risk disclosure rule and California's climate disclosure surveys.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-25•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 approved Bekzhan Olzhaevich Pirmatov as an independent board member of a second-tier bank.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-25•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, under an order dated 18 July 2025, withdrew its consent for the appointment of Irina Eduardovna Khondy to a managerial position.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency warns of increased scam risks for children during summer holidays, as fraudsters target their online activity to access parents' financial data. Common schemes include fake prize promotions, malicious apps, and suspicious links, leading to data breaches. Parents should discuss online risks with children, use antivirus software, and teach digital and financial literacy.
SupervisionAlertsConsumer and investor protection
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2025-07-25•Ghana•Bank of Ghana
The Bank of Ghana's Governor, Dr. Johnson P. Asiama, highlighted Non-Interest Banking and Finance (NIBF) as a profit-and-loss sharing model aimed at enhancing financial inclusion in Ghana. NIBF prohibits interest and speculative investments, focusing on ethical financing and excluding sectors like alcohol and gambling. The Governor noted the global NIBF balance sheet exceeds USD 5.5 trillion and linked instruments like Sukuk bonds to Ghana's infrastructure financing needs.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-07-25•Zambia•Zambia Securities & Exchange Commission
The Zambia Securities and Exchange Commission penalized Mr. George Nshindano Mtonga for unlicensed investment advice and promoting an unauthorized investment scheme, and Mukwa Fund Limited for dealing in securities without a license. Mr. Mtonga used social media to promote himself and Mukwa Fund, soliciting funds without proper licensing, while Mukwa Fund Limited advertised securities services online without authorization.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City's July Services Survey indicates a modest decline in services activity in the Tenth District, though future expectations remain positive. Input prices eased while selling prices were unchanged. New seasonal adjustment factors have been applied, resulting in slight revisions to historical indexes.
Data & statisticsEconomic data and developments
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2025-07-25•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan and the National Financial Regulatory Administration of China signed a Memorandum of Understanding to enhance cooperation on banking supervision. The MoU includes information exchange, coordination on anti-money laundering and counter-terrorism financing, and support for Chinese banks in Uzbekistan. It also encompasses mutual consultations and experience-sharing in financial and banking supervision.
SupervisionCooperationCross-border cooperationAML and CFT
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2025-07-25•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission participated in the 24th National Life Insurance Day, emphasizing life and health insurance as essential for financial planning amid Thailand's ageing society. The event, organized with industry associations, highlighted low insurance penetration and the need for innovation to expand coverage. Activities included insurer booths, financial guidance, and a blood donation campaign.
Financial literacy & educationOther
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2025-07-25•Kyrgyzstan•Ministry of Finance (Kyrgyzstan)
The State Financial Intelligence Service under the Ministry of Finance of Kyrgyzstan fined a commercial bank KGS 830,000 for violating national TEC/CCLC requirements. Infractions included inadequate internal control systems, non-compliance with information submission protocols, and breaches of financial sanctions related to countering terrorist financing and money laundering.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-25•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities and Commodities Authority fined a licensed company AED 5 million and referred it to the Public Prosecution for misrepresenting its licensing status and misleading clients. The firm violated anti-money-laundering regulations and failed to obtain necessary approvals for its investment plans. The SCA advised investors to verify the licensing status of service providers and report suspicious activities.
EnforcementInvestigations & enforcement actions
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2025-07-25•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) proposes allowing closed pension funds to accumulate up to three years of deficits before requiring a recovery plan, if the solvency ratio is above 75% and the deficit is cyclical. PREVIC also aims to revise the administrative sanctions framework, expanding violation typologies and increasing fines, with a draft decree introducing a “regular management act” to differentiate good-faith actions from misconduct. These proposals are under discussion and pending approval by relevant authorities.
Policy & regulationRules & requirementsPrudential risks
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2025-07-25•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten clarified that Fatum General Insurance N.V., Fatum Health N.V., and Fatum Life N.V. meet prudential requirements despite concerns about their shareholder's financial position. These insurers operate as independent entities with separate supervision and resources. The central bank will continue to monitor the situation and intervene if needed.
SupervisionRisk monitoring & watch pointsPrudential risks
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2025-07-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) supports the Department of Transportation's implementation of tap-to-pay and scan-QR technologies at Metro Rail Transit Line 3 stations to expand digital payments. This collaboration with G-Xchange Inc. (GCash) aims to streamline fare collection without requiring top-ups or single-use tickets. The BSP emphasizes compliance with interoperability and competition principles under the National Retail Payment System framework, with plans to extend these technologies to other transit systems.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Q2 2025 Senior Bank Loan Officers’ Survey indicates that most banks anticipate maintaining lending standards for enterprises and households in Q3, with a slight net tightening. For enterprise lending, 91.1% of banks expect unchanged standards, while 85.0% foresee the same for household lending. Business and household loan demand is expected to remain steady, with no banks predicting a decline.
Data & statisticsLending
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2025-07-25•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) announced that the liquidator of FWU Life Insurance Lux S.A. has begun distributing pre-filled forms for privileged creditors to file claims in the liquidation proceedings. Due to many affected customers, forms will be sent progressively, but receipt timing will not impact claim amounts or payment schedules. A notice will be posted on the liquidation website once distribution is complete for creditors who have not received their forms.
SupervisionInterventionsRecovery and resolution
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2025-07-25•Serbia•National Bank of Serbia
The National Bank of Serbia issued a consumer note on SMS phishing and investment scams, detailing how these frauds operate and offering advice to identify suspicious messages. The guidance highlights common impersonation tactics in Serbia and advises users to verify links independently and avoid disclosing confidential payment information. It also notes that while refunds may be possible for victims, banks are not liable for voluntary transfers in investment fraud cases.
Financial literacy & educationFraud and scams
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2025-07-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) updated reporting forms for Real Estate Investment Funds (FII) and enabled structured submission of the Portfolio Composition and Diversification Statement (CDA) for FIAGRO via Fundos.Net. New FII report versions will be available from 28 July 2025, with mandatory use from 1 September 2025. FIAGRO's CDA submissions must use the new format for the September 2025 base date, with optional early adoption for June 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-25•Germany•German Bundesbank
The German Bundesbank reported a rise in counterfeit euro banknotes in the first half of 2025, with 36,600 notes withdrawn, marking an 8% increase from the previous period, while the nominal value remained nearly unchanged at just under EUR 2.1 million. Counterfeits shifted towards EUR 50 and EUR 100 notes, while EUR 200 and EUR 500 notes saw a decline. Counterfeit coins also rose by 12%, predominantly affecting EUR 2 coins.
Data & statisticsFraud and scams
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2025-07-25•Albania•Albania Financial Services Authority
The Albania Financial Services Authority's Board approved the 2024 Supervision Report and made decisions on asset administration, audit arrangements, and governance appointments at regulated entities. Amendments to Regulation No. 146 on asset administration were approved, and an audit firm was appointed for SHAFP and SIK Raiffeisen Invest sh.a. Governance reappointments included positions at Eurosig sh.a., Credins Invest sh.a., Sigal Uniqa Invest sh.a., and the Albanian Securities Exchange ALSE sh.a.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-25•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said the direct investment figures used in ECLAC's latest regional report are preliminary estimates, not final 2024 data. Final 2024 figures will be published in October 2025 and added to the balance of payments tables in December 2025. The bank also said differences with ECLAC can be material because of both data revisions and methodology.
Policy & regulationGuidance & interpretationBalance of payments and other external statistics
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2025-07-25•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC filed criminal complaints against Creditable Lending Corporation and its employees for alleged abusive debt collection via the Easypeso app. The case involves violations of the Financial Products and Services Consumer Protection Act, Data Privacy Act, and Cybercrime Prevention Act, following arrests and seizures at the company's office. Additionally, the SEC issued a cease and desist order to halt all lending activities by Creditable Lending and Easypeso.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-07-25•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario revoked Expert Financial Corporation’s mortgage brokerage licence and imposed CAD 70,000 in penalties on the firm and two individuals. This action follows settlements over facilitating unlicensed mortgage business and other compliance breaches.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has introduced a lien creation form under the Insurance Act for liens on Central Securities Depository instrument accounts, naming the Authority as the beneficiary. The form details account specifics, value date, issue and maturity dates, and lien amount. It mandates that liens on insurers' or HMOs' security deposits in commercial banks require the Authority's prior written approval for withdrawal.
Policy & regulationGuidance & interpretationOther
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2025-07-25•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo released June 2025 statistics for non-bank financial institutions, noting asset increases for other financial intermediaries and insurance companies. Other financial intermediaries' assets rose to EUR 671.28 million, with loans comprising 74.44%. Insurance companies' assets increased to EUR 347.16 million, while pension fund assets totaled EUR 3.38 billion, predominantly in equities.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senior Democrats on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Senator Jeff Merkley and Ranking Member Elizabeth Warren, questioned FHFA Director William Pulte's directive for Fannie Mae and Freddie Mac to consider unconverted cryptocurrency assets in mortgage underwriting. They argue this could increase consumer risk and raise safety and soundness concerns for U.S. housing and financial markets, highlighting risks related to crypto volatility, liquidity, and potential conflicts of interest due to Pulte's dual role as chair of both Enterprises' boards.
Policy & regulationOther
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs reintroduced the Business of Insurance Regulatory Reform Act to clarify the Consumer Financial Protection Bureau's jurisdiction and reinforce state-based insurance regulation. The legislation asserts that the "business of insurance" is outside the CFPB's remit under Title X of the Dodd–Frank Act, aligning with the McCarran-Ferguson Act. Companion legislation is led in the U.S. House by Congressman Bryan Steil, supported by various trade groups.
Policy & regulationRules & requirementsOther
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs detailed the bipartisan “Build Now Act” by Elizabeth Warren and John Kennedy, linking Community Development Block Grant (CDBG) funding to housing supply outcomes. The bill proposes increased CDBG funding for communities improving housing construction, with reductions for underperformance after a two-year grace period. It targets areas with high housing demand and low supply, excluding those with low demand, economic distress, or recent natural disasters.
Policy & regulationReform agendas & prioritiesOther
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2025-07-25•Europe•European Payments Council
The European Payments Council released a collection of external reports from Q2 2025, focusing on the payments industry's evolution. The compilation includes key publications from the European Central Bank, Payments Europe, Bank for International Settlements, European Banking Authority, The Paypers, and PwC. The views in these reports are those of the authors and not attributed to the European Payments Council.
ResearchPayments and payment systems
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia clarified that banks are exempt from applying the statutory antifraud cooling-off period to car loans when proceeds are transferred directly to an auto dealer. This guidance precedes the 1 September 2025 requirement for a cooling-off period on loans above RUB 200,000, aimed at fraud prevention. The exemption is due to the minimal fraud risk when funds are credited directly to the seller’s account.
Policy & regulationGuidance & interpretationLending
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia revoked GS Invest LLC's depository licence effective 24 July 2025 due to non-compliance with securities market requirements under Russian President Executive Order No. 138. GS Invest LLC is required to cease depository activities and return all client assets by 24 November 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia has extended its partnership financing experiment through September 2028, originally set to end in 2025. The updated law expands permitted operations, introduces mutual insurance, and establishes a special committee for approving standards. It also mandates advertising disclosures and broadens criteria for participant entry and removal to mitigate risks.
Policy & regulationRules & requirementsSME financing
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2025-07-25•Pakistan•State Bank of Pakistan
The State Bank of Pakistan has introduced a consolidated customer onboarding framework to standardize and simplify account opening, including digital options for individuals and businesses. Banks and regulated entities must ensure account opening within two days and provide digital payment solutions like Raast QR codes or point of sale terminals to merchants. The framework also rationalizes documentation and categorizes merchants for low-cost onboarding.
Policy & regulationRules & requirementsFinancial inclusionPayments and payment systems
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2025-07-25•Chile•Central Bank of Chile
The Central Bank of Chile extended the application deadline to 8 August 2025 for selecting a full member of the Investment Technical Council, following Claudio Raddatz Kiefer's vacancy. The appointee must be a professional with expertise in financial and capital markets and meet specific legal requirements, including restrictions on holding certain positions in financial institutions. The Central Bank will communicate relevant selection process details on its website.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-07-25•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation released a list of administrative enforcement actions from June 2025, including 17 orders and one Notice of Charges. Actions involved orders terminating consent and civil money penalty orders, civil money penalties, prohibitions, insurance terminations, and Section 19 waiver terminations. No administrative hearings are scheduled for August 2025.
EnforcementInvestigations & enforcement actions
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2025-07-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets made decisions on capital markets authorizations and consumer protection, including securities issuers register changes. Actions included share registrations for ADMINISTRAȚIA NAȚIONALĂ A DRUMURILOR and ART-NIC, and cancellations for BAZA DE TRANSPORT AUTO-12 EDINEȚ and ECA invest. The Commission addressed breaches by OK CREDIT, ordering interest recalculations and refunds, and rejected CREDIT AUTO's pre-trial request to annul a prior decision.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets is collaborating with the UNDP’s Istanbul International Center for Private Sector in Development to create an SDG-aligned Investment Map for Moldova. The initiative aims to identify investment opportunities and develop instruments like green and social bonds to attract international capital. The Commission will provide capital market expertise, supporting mechanisms for small and medium-sized enterprises.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-25•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) announced Kazana Financial Inc. paid CAD 30,000 for facilitating over CAD 6 million in trades without required registration. Kazana distributed units to 166 investors from 2021 to 2023 without registration or exemption under British Columbia’s Securities Act. The firm later registered as an exempt market dealer, admitted wrongdoing, and cooperated with the investigation, with no evidence of investor harm.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision revised its policies on options and discretions under EU banking rules to enhance supervisory harmonization. Updates include clarifications on capital requirement calculations for operational and market risks, and the Danish Compromise on risk-weighting investments in insurance subsidiaries. The revisions incorporate feedback from a public consultation and align with the CRR III-CRD VI package and recent supervisory developments.
Policy & regulationGuidance & interpretationCapital adequacyPrudential risks
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2025-07-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has directed credit institutions and foreign bank branches to implement urgent customer support measures following Typhoon No. 3 (Wipha) in Northern and North Central provinces. Institutions must review affected borrowers, restructure repayment schedules, consider interest waivers, and provide new loans. Regional branches are tasked with coordinating local efforts, advising provincial committees, and reporting unresolved issues to the State Bank.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-25•Global•Financial Stability Board
The Financial Stability Board convened its Regional Consultative Group for the Commonwealth of Independent States in Dilijan, marking a return to in-person meetings since 2021. Discussions centered on the G20 Roadmap for cross-border payments, the FSB's Global Regulatory Framework for Crypto-asset Activities, and strategies for crisis preparedness and cross-border cooperation.
Policy & regulationCooperationCross-border cooperationCross-border paymentsOther
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) held a mid-year meeting to review performance and set priorities, focusing on implementing the 'Guo Jiu Tiao' and '1+N' policy frameworks. Initiatives include strengthening market-stabilisation mechanisms, advancing STAR Market and ChiNext reforms, and enhancing enforcement against financial fraud and market manipulation. The CSRC aims to improve risk-response capabilities, promote long-term capital cultivation, and address bond default risks and illegal fund activities.
Policy & regulationReform agendas & prioritiesOther
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has approved the registration of linear low-density polyethylene, polyvinyl chloride, and polypropylene monthly average price futures on the Dalian Commodity Exchange. The exchange is required to complete preparatory work to ensure an orderly launch and stable operation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission released a draft revision of the Listed Company Governance Standards for public consultation to enhance governance by standardizing the conduct of directors, senior management, and controlling shareholders. Key proposals include a supervisory framework for directors, a remuneration system linked to performance, and stricter limits on same-industry competition. The draft aligns with existing regulations, updating requirements for shareholder rights and committee roles.
Policy & regulationRules & requirementsCorporate governance