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  • 2025-07-23SpainSpanish Securities Commission (CNMV)

    Spanish Securities Commission authorises MGH Continental Holding’s delisting tender offer for Minor Hotels Europe & Americas at EUR 6.51 per share

    The Spanish Securities Commission (CNMV) has authorized a delisting tender offer for Minor Hotels Europe & Americas, S.A. by MGH Continental Holding (Singapore) PTE. LTD. The offer targets 4.13% of shares, with 95.87% immobilized until completion, priced at EUR 6.51 per share. Supported by a valuation from Ernst & Young and bank guarantees from Bangkok Bank, the shares will be delisted upon settlement, with a potential squeeze-out if conditions are met.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-23GlobalISDA

    International Swaps and Derivatives Association publishes charter as Credit Derivatives Determinations Committees vote to create a governance committee

    The International Swaps and Derivatives Association (ISDA) has formed a new governance committee for the Credit Derivatives Determinations Committees (DCs) to oversee operations and manage rule changes, separate from credit event determinations. The committee, with representatives from 18 CDS-active firms, will propose and vote on DC rule changes, subject to a 30-day market consultation, while ISDA collaborates on further governance enhancements.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-07-23EuropeEuropean Banking Authority

    European Banking Authority finds no evidence to amend CRD rules on direct third-country banking services and calls for clearer interaction with UCITS and AIFMD

    The European Banking Authority (EBA) published a report on the direct provision of core banking services from third countries under Article 21c of the Capital Requirements Directive, finding no evidence to amend the article but recommending further clarification on its interaction with other sectoral legislation. The report highlights the regime's flexibility, including reverse solicitation and exemptions for interbank transactions, while noting the need for clarity on its interaction with UCITS and AIFMD. The EBA suggests using its Q&A tool for guidance.

    Policy & regulationGuidance & interpretationCross-border payments
  • 2025-07-23MalaysiaMinistry of Finance (Malaysia)

    Malaysia's Ministry of Finance introduces Consumer Credit Bill to regulate consumer credit providers and establish a Consumer Credit Commission

    The Ministry of Finance (Malaysia) proposed the Consumer Credit Bill to regulate consumer credit businesses, including digital services like instant loans and buy now pay later. It aims to address risks such as excessive charges and financial fraud by mandating fair treatment, transparency, and professional debt management guidelines. A new Consumer Credit Commission will oversee previously unregulated providers, consolidating regulatory functions across ministries.

    Policy & regulationRules & requirementsConsumer and investor protectionBNPL
  • 2025-07-23AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission permanently bans Matthew Beresford from financial services and credit activities after fraud conviction

    The Australian Securities & Investments Commission (ASIC) has permanently banned Matthew Allen Beresford from financial services and credit activities. Beresford used a false identity and fraudulent bank accounts to illegally offer financial advice, falsely claiming to hold an Australian Financial Services licence. Investors deposited approximately AUD 374,000 into accounts he opened. Following criminal charges by Victoria Police, Beresford pleaded guilty to false document and proceeds of crime offences, receiving an 85-day prison sentence and a 30-month Community Corrections order.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityFraud and scams
  • 2025-07-23AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission signals no rush to AI-specific rules for banks while preparing tougher use of existing powers

    The Australian Securities & Investments Commission (ASIC) supports customer-centric AI in banking but warns against harmful AI use. Chair Joe Longo noted existing laws like the Corporations Act apply to AI, and specific AI regulations may add complexity. ASIC's review found gaps in consumer risk assessment and governance in financial services using AI. A follow-up on the Better Banking for Indigenous Consumers initiative will address fee harm to low-income customers.

    Policy & regulationGuidance & interpretationArtificial intelligence
  • 2025-07-23TanzaniaTanzania Insurance Regulatory Authority

    Tanzania Insurance Regulatory Authority hosts East Africa regulators and ZEP-RE strategic forum on pre-arranged climate and disaster risk financing

    The Tanzania Insurance Regulatory Authority is hosting the 2025 Annual East Africa Insurance Regulators and ZEP-RE Strategic Forum in Zanzibar, focusing on strengthening insurance regulation and promoting inclusive markets. Discussions center on using insurance frameworks to bolster government resilience to climate-related shocks. The forum aims to advance regional regulatory harmonisation and climate risk insurance solutions.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-07-23UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market issues interpretation defining transactions with collective investment institution assets

    The Ukraine National Commission on Securities and Stock Market issued an official interpretation of "transactions with CII assets" to clarify legal uncertainties for asset management companies and collective investment institutions. It includes both profitable and loss-making transactions, provided they comply with the investment declaration, are economically feasible, and properly documented. The resolution is effective immediately upon publication on the Commission's website.

    Policy & regulationGuidance & interpretationOther
  • 2025-07-23Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority approves Dinar Investment Company’s public offering of Dinar US Equity Fund

    The Saudi Arabia Capital Markets Authority approved Dinar Investment Company's public offer of the Dinar US Equity Fund, confirming compliance with the Capital Market Law and Implementing Regulations. The CMA clarified that this approval is not a subscription recommendation and advised investors to review the fund's terms, strategy, and risks thoroughly.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-23EuropeEuropean Financial Reporting Advisory Group

    European Financial Reporting Advisory Group launches ESRS State of Play portal and releases analysis of 656 CSRD sustainability statements

    The European Financial Reporting Advisory Group (EFRAG) launched the "EFRAG 2025 State of Play" portal and report, revealing limited materiality coverage in early implementation of the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive. Only 10% of companies identified all 10 topical standards as material, with Climate Change, Own Workforce, and Business Conduct most disclosed. The study will guide EFRAG's work on ESRS simplification as mandated by the European Commission.

    ResearchESG
  • 2025-07-23PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan and IFC launch three-year ESG Pakistan Project to align corporates with international ESG standards

    The Securities and Exchange Commission of Pakistan, in collaboration with the International Finance Corporation, has launched the ESG Pakistan Project to align the corporate sector with international ESG standards. The initiative includes workshops, guidance materials, and impact assessments using SECP's ESG Sustain platform. Implementation is supported by the Facility for Investment Climate Advisory Services and funding from the CIFPAK facility.

    Policy & regulationImplementation, projects & pilotsESG
  • 2025-07-23PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan licenses Alif Finance as a non-banking finance company

    The Securities and Exchange Commission of Pakistan has granted an Investment Finance Services licence to Alif Finance (Private) Limited, allowing it to operate as a Non-Banking Finance Company. Alif Finance, a subsidiary of Alif Capital Holdings, focuses on Shariah-compliant digital and conventional lending in Pakistan. This approval aligns with SECP's strategy to attract reputable foreign investment and enhance the NBFC sector's diversity.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-23IndonesiaBank Indonesia

    Bank of Indonesia banking survey reports higher new loan disbursements in Q2 2025 and slightly tighter lending standards

    Bank of Indonesia's Q2 2025 Banking Survey indicates an increase in new loan disbursements, with a Weighted Net Balance (WNB) of 85.22%, driven by working capital and investment loans. Lending standards were more cautious, with a Lending Standards Index (LSI) of 0.08, affecting credit lines and collateral requirements. Respondents anticipate continued credit growth in Q3 2025, supported by a favorable economic outlook and mitigated lending risks.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-23ChinaCentral Bank of the Republic of China

    People's Bank of China urges stronger EMEAP central bank cooperation at 30th Governors' Meeting

    The People's Bank of China reported Deputy Governor Zou Lan attended the 30th EMEAP Governors' Meeting, urging enhanced cooperation among member central banks for regional financial stability. The meeting addressed global and regional economic conditions, geo-economic fragmentation, inflation dynamics, and monetary policy frameworks. Zou also presented China's economic and financial conditions and macroeconomic policies.

    Monetary policyMonetary policy assessments & outlooksCross-border cooperation
  • 2025-07-23UkraineNational Bank of Ukraine

    National Bank of Ukraine survey finds banks expect loan portfolios to expand and loan quality to improve

    The National Bank of Ukraine's quarterly Bank Lending Survey shows optimism among banks for growth in corporate and retail lending, with expectations of improved loan quality for the first time in a year. Demand for corporate loans rose in Q2, driven by long-term borrowing and lending to large enterprises, while household demand increased for mortgages and consumer loans. Lending standards were relaxed, approval rates increased, and mortgage collateral requirements eased, though credit and operational risks rose, with no growth in foreign exchange risk reported for the first time in two years.

    Data & statisticsLendingAsset quality
  • 2025-07-23CroatiaMinistry of Finance (Croatia)

    Croatia's Ministry of Finance requires banks to provide a fee-free services package for accounts receiving regular income

    Croatia's Ministry of Finance amended the law on fee comparability, payment account switching, and access to a basic account, requiring credit institutions to offer a fee-free package of specified services for accounts receiving regular income. From 1 January 2026, this includes account maintenance, internet or mobile banking, and cash withdrawals, with additional provisions for vulnerable groups. By 1 January 2027, institutions must allow two fee-free monthly cash withdrawals at other institutions' ATMs for these accounts.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-07-23PortugalBank of Portugal

    Bank of Portugal reports EUR 7.9 billion rise in non-financial sector debt in May 2025 as household debt growth hits 6.1%

    The Bank of Portugal reported a EUR 7.9 billion increase in non-financial sector indebtedness in May 2025, reaching EUR 839.1 billion. Household indebtedness rose 6.1% year on year, marking the highest annual rate since December 2008. Public sector debt increased by EUR 4.4 billion, primarily due to external financing, while private sector debt rose by EUR 3.5 billion, driven by private corporations and mortgage lending.

    Data & statisticsBalance of payments and other external statistics
  • 2025-07-23GermanyBaFin

    Germany’s Federal Financial Supervisory Authority consults on amending audit report rules to specify DORA, EU Taxonomy and EU Disclosure reporting duties

    Germany’s Federal Financial Supervisory Authority (BaFin) has initiated a public consultation on a draft ordinance to amend the Audit Report Regulation (PrüfV). The amendments aim to clarify statutory auditors' reporting duties related to the EU Disclosure Regulation, EU Taxonomy Regulation, and Digital Operational Resilience Act (DORA), introducing new Sections 40a and 40b to the PrüfV. These changes apply to audit reports for financial years starting after 31 December 2024.

    Policy & regulationRules & requirementsDisclosures
  • 2025-07-23GreeceMinistry of National Economy and Finance (Greece)

    Greece’s Ministry of National Economy and Finance outlines National Customs Code bill with digitised procedures and stricter fines

    Greece's Ministry of National Economy and Finance outlined Deputy Minister Giorgos Kotsiras's speech on the draft National Customs Code, emphasizing digitization, stricter penalties, and EU alignment. The speech linked EUR 2 billion in revenue to digital processes and called for measures against tax evasion and smuggling. It also addressed bank fee amendments, integrating the Financial and Economic Crime Unit into the Independent Authority for Public Revenue, and specific tax and legal provisions.

    Policy & regulationRules & requirementsOther
  • 2025-07-23GreeceMinistry of National Economy and Finance (Greece)

    Greece’s Ministry of National Economy and Finance tables amendment to make bank ATM withdrawals free and cap third-party ATM fees at EUR 1.50

    Greece's Ministry of National Economy and Finance proposed amending the draft National Customs Code bill to regulate ATM withdrawal and payment service fees. The amendment mandates free withdrawals from banks' own ATMs, eliminates fees in areas with a single ATM, and caps third-party ATM fees at EUR 1.50 per transaction. It also introduces zero-fee rules for specific transactions and caps credit transfer fees at EUR 0.50 for amounts up to EUR 5,000 per day.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-07-23LaosBank of the Lao

    Bank of the Lao PDR and Bank of Korea sign cooperation agreement and hold first BOK-KPP 2025 technical seminar

    The Bank of the Lao PDR and the Bank of Korea signed a bilateral cooperation agreement and launched the BOK-KPP 2025 programme with a technical seminar focused on financial skills development to support economic stability in the Lao PDR. The seminar, co-chaired by officials from both banks, addressed economic and financial development, financial literacy, and strategic planning for financial education.

    Policy & regulationCooperationOther
  • 2025-07-23Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission reports court-appointed administrators distributed about HKD 19 million to Hong Kong Wan Kiu clients

    The Hong Kong Securities and Futures Commission (SFC) announced the distribution of approximately HKD 19 million to affected clients of Hong Kong Wan Kiu Investment Company Limited (HKWK) by court-appointed administrators, following a court-approved restoration order. This follows an SFC investigation revealing unauthorized sales and misappropriation of client securities by HKWK and its director, Connie Sham Khi Rose, who pleaded guilty to misappropriating HKD 58 million and received a community service sentence. HKWK's licence for dealing in securities was revoked in March 2024 after prior restrictions and asset freezes.

    EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
  • 2025-07-23AfghanistanCentral Bank of Afghanistan

    Central Bank of Afghanistan reports 0.79% Afghani appreciation and banking sector expansion in 1446 AH accountability briefing

    The Central Bank of Afghanistan (Da Afghanistan Bank) reported on its 1446 AH achievements, highlighting a 0.79% appreciation of the Afghani against the US dollar, growth in banking sector assets, profits and capital, and a AFN 7.9 billion increase in public bank deposits. It outlined measures to expand banking access and digital financial services, including new regulatory frameworks, licences for microfinance, electronic money and payment institutions, 62 new branches and mini-branches, branchless banking licences, and expanded Islamic finance with a 71% year-on-year increase in Islamic financing.

    OtherCapacity building
  • 2025-07-23Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority alerts public to bank-related scams involving fraudulent websites, phishing messages and a suspicious mobile app

    The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, internet banking login screens, a suspicious mobile app, and phishing messages linked to The Hongkong and Shanghai Banking Corporation Limited and Banque Pictet & Cie SA. The HKMA emphasized that banks will 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's Crime Wing Information Centre.

    SupervisionAlertsFraud and scams
  • 2025-07-23CyprusCyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission flags ORES NOVUS RAIF as under liquidation after dissolution process begins

    The Cyprus Securities and Exchange Commission (CySEC) announced that ARGUS MANAGEMENT LTD has initiated the dissolution and liquidation of ORES NOVUS RAIF V.C.I.C. LTD. The fund will remain listed in the RAIFs Registry with an "under liquidation" notice until the process is complete. CySEC will remove the fund from the register upon completion and submission of all required documents.

    SupervisionAuthorisations & approvalsOther
  • 2025-07-23KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan signs trilateral banking supervision cooperation memorandum with the National Bank and China’s NFRA

    Kazakhstan's Financial Market Agency and National Bank signed a trilateral memorandum with China's National Financial Regulatory Administration to enhance banking regulation cooperation. The agreement aims to prevent unlawful activities, reinforce bank stability, and protect consumers, aligning with Basel Committee recommendations. Kazakhstan hosts three banks with Chinese participation, holding assets of KZT 2.1 billion, 3.3% of the banking system's total assets.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-23Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority highlights updated Cyber and Russia sanctions information published by Isle of Man Treasury

    The Isle of Man Financial Services Authority has issued a sanctions update highlighting new information on the Isle of Man’s Cyber and Russia financial sanctions regimes from the Isle of Man Treasury, Customs and Immigration Division. Regulated firms are directed to the Isle of Man Government news releases and the Treasury Division’s Sanctions and Export Control webpage for details.

    Policy & regulationGuidance & interpretationSanctions list update
  • 2025-07-23United StatesFederal Reserve Bank of Boston

    Federal Reserve Bank of Boston publishes interview with Board director Sushil Tuli on Leader Bank’s ethics-first community banking model

    The Federal Reserve Bank of Boston published an interview with Sushil Tuli, CEO of Leader Bank and a Class A director on the Boston Fed’s Board, discussing the bank's founding amid community bank consolidation and its ethical strategy. Tuli emphasized prioritizing customer outcomes during the 2008–2009 financial crisis and the COVID-19 pandemic, notably through significant Paycheck Protection Program lending. He also highlighted providing community banking insights to the Boston Fed board.

    OtherCorporate governance
  • 2025-07-23ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission orders insurer to halt disputed health insurance premium and coverage changes and submit remediation plan

    The Thailand Office of Insurance Commission (OIC) summoned an insurer to address public complaints about changes to health insurance coverage and premiums, instructing the cessation of actions affecting policyholder rights. Senior management discussed product development, risk management, and communication issues, with the OIC emphasizing clarity in sales information and premium-risk alignment. The insurer must submit a remediation plan by 30 July 2025 for further supervisory review.

    SupervisionInterventionsOther
  • 2025-07-23GlobalGPFI

    Global Partnership for Financial Inclusion advances G20 2025 deliverables on financial usage, MSME finance, innovative technology and remittances

    The Global Partnership for Financial Inclusion (GPFI) released the co-chairs’ summary of its second plenary meeting under South Africa’s G20 presidency, focusing on the 2025 work programme. Key discussions included transitioning from access to usage of financial services, an implementation framework for the G20 GPFI Action Plan on MSME Finance, and innovative technologies for inclusion. The World Bank presented a timetable for a new National Remittance Plan template, noting a decrease in global remittance costs.

    Policy & regulationImplementation, projects & pilotsFinancial inclusionMarket development
  • 2025-07-23GlobalGPFI

    G20 Global Partnership for Financial Inclusion hosts first webinar on its action plan to expand MSME financing

    The G20 Global Partnership for Financial Inclusion conducted its inaugural online webinar on the Action Plan for Micro, Small and Medium Enterprise financing, highlighting initiatives, challenges, and proposed actions to enhance MSME support. The event showcased best practices from Italy, India, and South Africa, with materials available for download.

    Policy & regulationCooperationSME financing
  • 2025-07-23GlobalGPFI

    G20 Global Partnership for Financial Inclusion publishes second MSME financing action plan webinar summary featuring Japan, Colombia, Türkiye and Egypt

    The G20 Global Partnership for Financial Inclusion (GPFI) released a summary from its second webinar on the G20 GPFI Action Plan on MSME Financing, highlighting initiatives and challenges. Japan introduced the Enterprise Value Charge, a secured-lending framework effective Spring 2026, while Colombia detailed its online movable-collateral registry and National Guarantee Fund. Türkiye and Egypt showcased support programs for MSMEs, including funding and lending quotas, with significant impacts reported.

    Policy & regulationImplementation, projects & pilotsSME financing
  • 2025-07-23TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan grants Humo Bank a banking licence and voids Humo’s 2017 licence

    The National Bank of the Republic of Tajikistan has issued a banking licence to Closed Joint-Stock Company Humo Bank for operations in both national and foreign currencies, following its conversion into a bank. Concurrently, the previous licence for CJSC “Humo” was invalidated. These actions align with Tajikistan’s legal framework on banking and licensing.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-23GlobalSustainable Banking and Finance Network

    Sustainable Banking and Finance Network admits Southern African Development Community Banking Association as newest member

    The Sustainable Banking and Finance Network (SBFN) announced the Southern African Development Community Banking Association (SADC BA) as its newest member, enhancing efforts to promote Environmental, Social, and Governance (ESG) adoption. SADC BA, representing 12 national banking associations, joined during the inaugural SADC Sustainable Finance Forum in Cape Town. This addition brings SBFN's membership to 101 across 72 emerging markets.

    Policy & regulationCooperationDomestic cooperation
  • 2025-07-23ArubaCentral Bank of Aruba

    Central Bank of Aruba publishes 2024 Financial Sector Supervision Report highlighting higher minimum solvency ratios and work on deposit insurance

    The Central Bank of Aruba's Financial Sector Supervision Report 2024 highlights that supervised institutions remain well-capitalized but urges vigilance due to geopolitical risks. The Bank has tightened solvency frameworks, progressed on a deposit insurance scheme, and introduced consumer credit reforms. It also emphasizes the need for a new AML/CFT/CPF National Risk Assessment and updates on technology risk and operational resilience guidance.

    SupervisionSupervision approach, priorities & toolkit
  • 2025-07-23Brunei DarussalamCentral Bank of Brunei Darussalam

    Central Bank of Brunei Darussalam reports May 2025 business conditions index at 49.7 with one-month outlook rising to 50.3

    The Central Bank of Brunei Darussalam released the Business Sentiment Index for May 2025, showing a slight decline in current business conditions to 49.7, primarily due to the Oil & Gas sector. The one-month-ahead index improved to 50.3, reflecting optimism among large enterprises. Sectoral performance varied, with Real Estate & Ownership of Dwellings being the most optimistic and Wholesale & Retail Trade the weakest.

    Data & statisticsEconomic data and developments
  • 2025-07-23VietnamVietnam State Securities Commission

    Vietnam State Securities Commission securities training centre signs MoU with Ho Chi Minh City Banking University to strengthen securities education and practical research

    The Vietnam State Securities Commission's Securities Scientific Research and Training Center signed a memorandum of understanding with Ho Chi Minh City Banking University to enhance securities market training and talent development. The agreement supports joint training, practice-oriented research, and student opportunities for real-world experience.

    Institutional developmentCooperation & capacity buildingOther
  • 2025-07-23South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission confirms unchanged 2026 domestic systemically important banks and financial institutions and the 1% capital add-on

    The South Korea Financial Services Commission has designated five bank holding companies and five banks as domestic systemically important banks (D-SIBs) and financial institutions (D-SIFIs) for 2026, with no changes from the previous year. The entities include Shinhan Financial Group, KB Financial Group, Hana Financial Group, Woori Financial Group, NH Financial Group, and their respective banks. D-SIBs must maintain an additional 1.0% common equity capital, and D-SIFIs are required to submit recovery plans to the Financial Supervisory Service.

    Policy & regulationRules & requirementsFinancial stability and systemic risk
  • 2025-07-23South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission approves recovery and resolution plans for 10 domestic systemically important financial institutions

    The South Korea Financial Services Commission approved the 2025 recovery and resolution plans for 10 domestic systemically important financial institutions (D-SIFIs), including major financial holding companies and their banks. The plans, mostly meeting international standards, incorporate tools to enhance risk preparedness and expedite resolution proceedings. The Korea Deposit Insurance Corporation and D-SIFIs were notified of areas needing improvement.

    Policy & regulationImplementation, projects & pilotsRecovery and resolution
  • 2025-07-23South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission proposes individual-based Korea Exchange surveillance and tougher surcharges for unfair trading and disclosure breaches

    South Korea’s Financial Services Commission proposes amending the Enforcement Decree of the Financial Investment Services and Capital Markets Act to enhance market surveillance and tighten sanctions on unfair trading. The Korea Exchange would adopt individual-centred surveillance, significantly increase penalty surcharges for insider trading and disclosure violations, and introduce new aggravated sanctions criteria for misconduct, including unfair trading by financial company employees and false disclosures by listed companies.

    Policy & regulationRules & requirementsMarket abuse
  • 2025-07-23BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission rejects Cedarwood settlement bid and approves BRL 307,600 in settlements with Cambuci investor relations director and MV Auditores

    The Brazil Securities Commission (CVM) rejected a settlement proposal from Cedarwood Private Equity S.A. and nine individuals due to legal impediments and the seriousness of alleged fraudulent conduct. However, the CVM approved settlements with Roberto Estefano and MV Auditores Independentes S/S, involving payments of BRL 280,000 and BRL 27,600, respectively, for violations related to trading disclosures and professional education compliance.

    EnforcementInvestigations & enforcement actionsOther
  • 2025-07-23GermanyGerman Bundesbank

    German Bundesbank reports 11% rise in card payments to around 13 billion transactions in 2024

    The German Bundesbank's 2024 payments statistics reveal an 11% increase in card payments to 13 billion transactions, with SEPA instant credit transfers rising 37% to 337 million transactions. Credit transfers accounted for EUR 64 trillion, representing 90% of all payments. The number of ATMs and transfer terminals operated by German payment service providers declined by 3%.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-23GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission issues prohibition order banning Alex Phil from holding a supervised role until May 2028

    The Guernsey Financial Services Commission issued a prohibition order under section 33 of The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020. Mr. Alex Phil, formerly known as Alexei Filatov, is prohibited from holding a supervised role from 18 July 2025 to 18 May 2028.

    EnforcementSanctions & designations
  • 2025-07-23GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission fines ITI Trade GBP 175,000 and Alex Phil GBP 35,000 and bars him from supervised roles for 2 years 10 months

    The Guernsey Financial Services Commission took action against ITI Trade LTD and former director Alex Phil for regulatory failures, imposing penalties of GBP 175,000 on the firm and GBP 35,000 on Phil. The investigation found systemic AML/CFT and corporate governance failings, including inadequate risk assessments and customer due diligence, linked to an outsourced model in Russia. Phil was banned from a supervised role for nearly three years for misleading the regulator and lacking competence and diligence.

    EnforcementInvestigations & enforcement actionsAML and CFTCorporate governance
  • 2025-07-23CanadaOntario Securities Commission

    Ontario Securities Commission reports conviction and five-year jail sentence for Stéphane Gagnon in CAD 7.75 million fraud case

    The Ontario Securities Commission announced Stéphane Gagnon's conviction for fraud over CAD 5,000 and using a forged document, resulting in a five-year jail sentence and a repayment order exceeding CAD 7.75 million. Gagnon fraudulently obtained over CAD 20 million from more than 300 investors by falsely promising access to locked-in retirement funds. The case was prosecuted by the Ministry of the Attorney General after an OSC Criminal Investigations & Prosecutions team investigation.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-07-23GlobalSustainable Banking and Finance Network

    Sustainable Banking and Finance Network adds Southern African Development Community Banking Association as a new member

    The Sustainable Banking and Finance Network announced the Southern African Development Community Banking Association as its newest member, expanding the network to 101 financial sector regulators and industry associations across 72 emerging markets. The membership, signed during the SADC Sustainable Finance Forum, aims to support the adoption of environmental, social, and governance themes among SADC BA's members.

    Policy & regulationCooperationDomestic cooperation
  • 2025-07-23GlobalSustainable Banking and Finance Network

    Sustainable Banking and Finance Network adds Southern African Development Community Banking Association as new member

    The Sustainable Banking and Finance Network (SBFN) announced the Southern African Development Community Banking Association (SADC BA) as its newest member, expanding SBFN's reach to 101 members across 72 emerging markets. SADC BA, representing 12 national banking associations in Southern Africa, aims to leverage this membership to enhance ESG adoption among its members. The membership was formalized during the inaugural SADC Sustainable Finance Forum in Cape Town.

    Policy & regulationCooperationDomestic cooperation
  • 2025-07-23GlobalWorld Savings and Retail Banking Institute

    World Savings and Retail Banking Institute conducts Nigeria mission and kicks off climate-smart finance pilot with LAPO Microfinance Bank

    The World Savings and Retail Banking Institute conducted a mission to Nigeria, launching a pilot project with LAPO Microfinance Bank to support climate-smart adaptations for women smallholders and women-led enterprises. The initiative includes tailored credit and improved agricultural practices. The delegation also engaged with the Central Bank of Nigeria and UNESCO Abuja on financial inclusion and skills development.

    Policy & regulationImplementation, projects & pilotsFinancial inclusion
  • 2025-07-23ThailandThailand Securities & Exchange Commission

    Thailand Securities and Exchange Commission urges CHAYO bondholders to review proposed two-year maturity extensions and coupon increases ahead of 29 July vote

    The Thailand SEC advised bondholders of five CHAYO bond series to review information and join the electronic bondholders’ meeting on 29 July 2025, where key bond term changes will be voted on. Proposed changes include extending maturities by two years, adjusting coupon rates, and altering repayment terms, with conditions tied to land sale proceeds. The SEC mandated the bondholders’ representative to evaluate the proposals and provide informed opinions to bondholders.

    Policy & regulationGuidance & interpretationCorporate governance
  • 2025-07-23United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren announces opposition to five Trump nominees for HUD, Treasury, Export-Import Bank and Commerce

    The U.S. Senate Committee on Banking, Housing and Urban Affairs released remarks by Ranking Member Elizabeth Warren opposing five Trump Administration nominees. Warren criticized Craig Trainor and Ben DeMarzo for roles at the Department of Housing and Urban Development, and Francis Brooke and David Peters for positions at the Treasury and Commerce Departments. While acknowledging some positive commitments from Export-Import Bank chair nominee John Jovanovic, Warren cited tariff policy concerns for her opposition.

    SupervisionAuthorisations & approvalsLeadership change and appointments
  • 2025-07-23United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs releases discussion draft digital asset market structure legislation and opens request for information

    The U.S. Senate Committee on Banking, Housing and Urban Affairs released a discussion draft of digital asset market structure legislation and requested stakeholder feedback. The draft builds on the GENIUS Act and the CLARITY Act, proposing oversight division between the SEC and CFTC, and introducing "ancillary assets" with specific SEC rulemaking directives. Stakeholder input will aid in developing comprehensive digital asset legislation.

    Policy & regulationRules & requirements
  • 2025-07-23United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren releases Trump nominees’ Questions for the Record responses ahead of executive-session vote

    The U.S. Senate Committee on Banking, Housing and Urban Affairs released a minority press release highlighting incomplete responses from President Trump’s nominees ahead of a committee vote. Key issues include HUD nominee Craig Trainor's stance on fair housing protections, Ben DeMarzo's commitments on HUD inquiries, and John Jovanovic's pledge for transparency at the Export-Import Bank. Nominees Francis Brooke and David Peters did not provide clear answers on tariffs and technology safeguards.

    SupervisionAuthorisations & approvalsLeadership change and appointments
  • 2025-07-23United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs advances five Trump administration nominees including Export-Import Bank chair pick to the Senate floor

    The U.S. Senate Committee on Banking, Housing and Urban Affairs, chaired by Tim Scott, advanced five of President Trump’s nominees to the full Senate. The nominees are Ben DeMarzo and Craig Trainor for HUD, John Jovanovic for the Export-Import Bank, Francis Brooke for the Treasury, and David Peters for Commerce. Scott highlighted their roles in HUD accountability, Export-Import Bank leadership, Treasury representation, and Commerce export control enforcement.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-23TanzaniaBank of Tanzania

    Bank of Tanzania reports residential mortgage debt grew 3.6% to TZS 683.03bn as of 31 March 2025

    The Bank of Tanzania's mortgage market update shows a 3.6% quarterly rise in residential mortgage debt to TZS 683.03bn (USD 255.79m) as of 31 March 2025, with an annual growth of 11.14%. The market is concentrated, with the top five lenders holding 62% of the debt, led by CRDB Bank Plc. Constraints include high interest rates and limited affordable housing supply, while the Tanzania Mortgage Refinance Company Ltd has extended TZS 162.70bn (USD 60.93m) in refinancing to lenders.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-23United StatesU.S. Financial Services Committee

    U.S. House Committee on Financial Services-backed package of 12 bills passes the House to update SEC investor rules and expand sanctions and illicit finance tools

    The U.S. House Committee on Financial Services announced the passage of 12 bipartisan bills by the House, integrating SEC-led capital-markets and investor-protection measures with Treasury-related reporting and sanctions. Key measures include studies on IPO underwriting costs, SEC's "small entity" definition, an accredited investor qualification exam, and streamlined IPO financial statement requirements. The package also addresses illicit finance, China-related risks, and includes provisions for OFAC-licensed firms and World Bank securities.

    Policy & regulationRules & requirementsOther
  • 2025-07-23CanadaNew Brunswick Financial & Consumer Services Commission

    New Brunswick Financial and Consumer Services Commission warns that MuxCap is not registered to deal or advise in securities in New Brunswick

    The New Brunswick Financial and Consumer Services Commission issued a warning that MuxCap, based in Geneva, Switzerland, is not registered to deal or advise in securities in New Brunswick. The alert includes the firm's current and former websites and references related warnings from other regulatory authorities.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-07-23GlobalFinancial Markets Standards Board

    Financial Markets Standards Board launches consultation on transparency draft good practice for unauthorised trading frameworks

    The Financial Markets Standards Board has released a Transparency Draft Statement of Good Practice on Unauthorised Trading Frameworks for industry consultation, aiming to enhance oversight and controls and establish consistent expectations among firms and regulators. The draft addresses vulnerabilities in risk management and the lack of comprehensive guidance, with comments open until 15 September 2025.

    Policy & regulationGuidance & interpretationRisk managementMarket development
  • 2025-07-23AfghanistanCentral Bank of Afghanistan

    Central Bank of Afghanistan presents annual achievements including expanded licensing for microfinance and payment institutions

    The Central Bank of Afghanistan (Da Afghanistan Bank, DAB) reported key achievements for 1446 AH, including a 0.79% appreciation of the Afghani against the US dollar and growth in banking-sector assets, profits, and capital. DAB highlighted establishing a regulatory framework for microfinance, electronic money, and payment institutions, alongside expanding Islamic financial services and branchless banking. Easing restrictions on public bank deposits led to a notable increase in deposits over the last three months.

    SupervisionAuthorisations & approvalsCapacity building
  • 2025-07-23EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority launches its regulatory sandbox and signs fintech partnership MOUs

    The Egypt Financial Regulatory Authority launched its Regulatory Sandbox for fintech applications at the FRA Fintech Forum 2025, facilitating multiple memoranda of understanding with fintech ecosystem participants. These agreements aim to develop technology solutions for the non-banking financial sector and enhance data exchange and connectivity. Established under FRA Board Decision No. 163 of 2024, the sandbox allows non-banking financial services providers to test innovative fintech applications.

    SupervisionInnovation & testingFintech and insurtech
  • 2025-07-23EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority convenes FRA Fintech Forum 2025 focusing on digital tax compliance for startups and e-commerce

    The Egypt Financial Regulatory Authority hosted the FRA Fintech Forum 2025 to foster strategic partnerships and dialogue on digitalisation and fintech challenges. Egypt’s Minister of Finance highlighted efforts to advance digital transformation and improve tax services, focusing on startups and e-commerce. The Egyptian Tax Authority provided insights on tax compliance and facilitation for digital platforms.

    Policy & regulationCooperationFintech and insurtech
  • 2025-07-23CanadaCanadian Securities Administrators

    Canadian Securities Administrators publish CIRO oversight review report identifying three medium priority findings

    The Canadian Securities Administrators (CSA) released an Oversight Review Report on the Canadian Investment Regulatory Organization (CIRO), evaluating its compliance with recognition orders and regulatory process effectiveness. The risk-based review focused on IT, membership intake, and trading conduct compliance, identifying three medium priority findings. CIRO has developed an action plan to address these findings, with no other concerns noted by CSA.

    SupervisionReviews, inspections & stress testsSupervision process and methodologies
  • 2025-07-23CanadaCanadian Public Accountability Board

    Canadian Public Accountability Board and CBV Institute publish joint guidance clarifying the use of valuation experts in financial reporting

    The Canadian Public Accountability Board and the Chartered Business Valuators Institute released a guide clarifying interactions among valuation experts, auditors, and management in financial reporting. It emphasizes role boundaries, good practices, and common valuation issues, recommending at least Estimate-level reports for significant risk cases. The guide also addresses scenarios like handling contradictory information and managing independence risks.

    Policy & regulationGuidance & interpretationAccounting and financial reporting
  • 2025-07-23United StatesCommodity Futures Trading Commission

    US Commodity Futures Trading Commission staff grant CME no-action relief on binary option swap data reporting and recordkeeping

    The Commodity Futures Trading Commission's Division of Market Oversight and Division of Clearing and Risk issued a no-action position for Chicago Mercantile Exchange Inc. regarding swap data reporting and recordkeeping obligations for binary option transactions. This relief exempts CME and its participants from specific compliance requirements, aligning with similar no-action letters for other designated contract markets and derivatives clearing organizations.

    EnforcementInvestigations & enforcement actionsRegulatory reporting
  • 2025-07-23MoldovaNational Commission for Financial Markets

    Moldova's National Commission for Financial Markets urges shareholders to update personal data in shareholder registers

    Moldova's National Commission for Financial Markets urged joint-stock company shareholders to update their information in the shareholder register. Outdated details could lead to missed notifications, unclaimed dividends, and loss of rights. Shareholders must report changes, and notifications sent to outdated addresses remain valid.

    Policy & regulationGuidance & interpretationOther
  • 2025-07-23CanadaBritish Columbia Securities Commission

    British Columbia Securities Commission reports conviction and fine for unregistered trading and prospectus breaches

    The British Columbia Securities Commission (BCSC) fined Richard Yung Shyang Chen CAD 4,001 for unregistered securities trading and failing to file a prospectus. Chen, a registered mutual fund dealing representative, facilitated two investment contract trades outside his registration, involving CAD 350,000 in a real estate opportunity without a filed prospectus.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-23GreeceHellenic Capital Market Commission

    Hellenic Capital Market Commission approves Olympia Holdings mandatory offer document and revokes supplementary AIFMC authorisations for Premia REIC and Prodea REIC

    The Hellenic Capital Market Commission approved the offering document for OLYMPIA HOLDINGS S.A.'s mandatory public offer to KTIMA KOSTA LAZARIDI S.A. shareholders. It also revoked the supplementary alternative investment fund manager authorisations of PREMIA REIC and Prodea REIC, following requests by the companies under new legal provisions.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-23United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission solicits candidates for all five PCAOB board seats including the chair

    The U.S. Securities and Exchange Commission (SEC) has begun appointing all five positions on the Public Company Accounting Oversight Board (PCAOB), including the Chairperson. The SEC oversees the PCAOB, which regulates audits of public companies, brokers, and dealers. The SEC's Office of the Chief Accountant manages the selection process, focusing on evaluating Board member compensation as part of the PCAOB's 2026 budget review.

    SupervisionAuthorisations & approvalsAccounting and financial reporting
  • 2025-07-23United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission tells Eighth Circuit it does not intend to revisit climate-related disclosure rules

    The U.S. Securities and Exchange Commission (SEC) filed a status report with the U.S. Court of Appeals for the Eighth Circuit, stating it does not intend to review its Climate-Related Disclosure Rules amid ongoing litigation. The SEC argued it could not predict future policy decisions without a court ruling on its statutory authority. Commissioner Caroline A. Crenshaw criticized the report as unresponsive, emphasizing that changes to the rules must adhere to the Administrative Procedure Act’s notice-and-comment process.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-07-23ZimbabweSecurities & Exchange Commission of Zimbabwe

    Securities and Exchange Commission of Zimbabwe warns investors against unlicensed capital market players and highlights penalties for operating without a licence

    The Securities and Exchange Commission of Zimbabwe (SECzim) issued a notice warning against engaging with unlicensed market players for securities transactions and capital market services. Investors are urged to verify licensing through SECzim's resources and prospective operators are reminded of legal penalties for conducting business without a SECzim licence.

    SupervisionAlertsLicence approval
  • 2025-07-23ThailandBank of Thailand

    Bank of Thailand chairs 30th EMEAP governors meeting on geopolitical tensions, inflation and AI-related financial sector implications

    The Bank of Thailand's Governor, Sethaput Suthiwartnarueput, chaired the 30th Executives’ Meeting of East Asia-Pacific Central Banks, focusing on regional macro-financial issues. Key topics included geopolitical tensions' impact on trade and capital flows, evolving inflation dynamics, and artificial intelligence's influence on the financial sector. The meeting emphasized monitoring and policy assessment in digital finance over the next two to three years.

    Monetary policyMonetary policy assessments & outlooksGeopolitical riskMonetary policy decisions and developmentsArtificial intelligence
  • 2025-07-23VietnamState Bank of Vietnam

    State Bank of Vietnam issues banking-sector action plan to implement science, technology and innovation strategy through 2030

    The State Bank of Vietnam has released an action plan to implement the country's science, technology, and innovation strategy in the banking sector through 2030. The plan aims for 80% of regulated entities to engage in innovation activities and outlines nine workstreams, including governance reform, data digitisation, and legal framework completion for digital banking. It also focuses on enhancing research institutions, skills development, infrastructure, and international cooperation.

    Policy & regulationReform agendas & prioritiesFintech and insurtechMarket development
  • 2025-07-23VietnamState Bank of Vietnam

    State Bank of Vietnam issues banking-sector action plan to implement national strategy on waste prevention and control through 2035

    The State Bank of Vietnam's action plan under Decision 2860/QD-NHNN aims to implement the National Strategy on waste prevention and control through 2035. It assigns responsibilities to banking entities to enhance resource efficiency and outlines objectives like streamlining structures, reducing administrative procedures, and accelerating digital transformation. The plan includes 10 task groups focusing on waste reduction, governance improvement, and restructuring credit institutions, emphasizing addressing non-performing loans and enhancing supervision.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-07-23EgyptCentral Bank of Egypt

    Central Bank of Egypt reports sharp rise in remittances from Egyptians working abroad

    The Central Bank of Egypt reported a 69.6% year-on-year increase in remittances from Egyptians abroad for FY 2024/2025, reaching approximately USD 32.8 billion by May. From January to May 2025, remittances rose 59% year on year to USD 15.8 billion, with May alone seeing a 24.2% increase to USD 3.4 billion, marking the highest inflows recorded for that month.

    Data & statisticsBalance of payments and other external statistics
  • 2025-07-23United StatesOffice of the Comptroller of the Currency

    Office of the Comptroller of the Currency appoints Kate Tyrrell as Chief of Staff and Senior Deputy Comptroller

    The Office of the Comptroller of the Currency appointed Kate Tyrrell as Chief of Staff and Senior Deputy Comptroller, joining Comptroller Jonathan V. Gould’s leadership team. Tyrrell will advance the Comptroller’s priorities, manage daily operations, oversee public affairs, and advise on policy and operations within the OCC and interagency. Her background includes senior roles in the private sector and positions at the Federal Housing Finance Agency and U.S. Department of the Treasury.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-23ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission eases Frequent Issuer offerings, simplifies CEDEAR and CEVA filings and cuts dissemination to one business day

    The Argentina Securities Commission (CNV) issued General Resolution No. 1076 to streamline procedures and expedite securities placements in the local capital market. Key changes include enhanced flexibility for Frequent Issuers, simplified CEDEAR and CEVA procedures, and updated dissemination timelines and minimum subscription amounts for negotiable securities. These measures aim to align local practices with global standards and boost market efficiency.

    Policy & regulationRules & requirementsMarket development
  • 2025-07-23ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission to move information requests for investigations and inspections to the Remote Procedures System from 1 September

    The Argentina Securities Commission (CNV) will implement the Remote Procedures System (TAD) for information requests in investigations or inspections from 1 September, as per General Resolution No. 1077. CNV-regulated entities must respond via TAD unless an impediment is justified, while non-regulated parties may use TAD or the in-person registry. TAD is optional for notifications and submissions in administrative disciplinary proceedings.

    Policy & regulationRules & requirementsSupervision process and methodologies
  • 2025-07-23CongoCentral Bank of Congo

    Central Bank of Congo launches national open tender to procure solar equipment for its Kananga provincial directorate

    The Central Bank of Congo has issued a national open tender to procure solar equipment for its Provincial Directorate in Kananga. Bidders must meet eligibility criteria, including legal existence, financial statements, tax clearance, technical capacity, and a bank-guarantee bid security of CDF 6,000,000. Tender documents are available for a fee from the bank’s Projects and Public Procurement Management Unit.

    Institutional developmentProcurement
  • 2025-07-23MoldovaNational Bank of Moldova

    National Bank of Moldova publishes monthly non-cash foreign exchange market data excluding central bank transactions

    The National Bank of Moldova released monthly statistics on the non-cash foreign exchange market, highlighting SPOT transactions as the primary activity, with limited SWAP and no FORWARD turnover. Interbank SPOT purchases and sales were mainly in EUR, while intrabank transactions involved significant USD activity. The data, used to set the official Moldovan leu exchange rate, is based on banks' reports and converted to EUR using monthly average rates.

    Data & statisticsCurrency and cash management
  • 2025-07-23MoldovaNational Bank of Moldova

    National Bank of Moldova publishes foreign exchange intervention data showing EUR 27.6m spot sales and EUR 9.7m equivalent FX swap purchases

    The National Bank of Moldova released data on its foreign exchange market operations, detailing spot transactions and FX swaps aligned with its monetary and exchange-rate policy. The report shows EUR 27.6 million in spot sales and EUR 9.7 million in FX swap purchases, with no spot purchases or swap sales. Transactions are recorded on the trade date and converted into EUR and USD using monthly average exchange rates.

    Data & statisticsForeign exchange policy and markets
  • 2025-07-23IndiaInsurance Regulatory and Development Authority of India

    Insurance Regulatory and Development Authority of India consults on Internal Insurance Ombudsman Guidelines requiring insurers to handle escalated complaints up to INR 50 lakh

    The Insurance Regulatory and Development Authority of India has released an exposure draft of the Internal Insurance Ombudsman Guidelines, 2025, for public consultation. The guidelines propose an independent review mechanism within insurers to address policyholder grievances, applicable to insurers with over three years of operations, excluding reinsurers. The draft outlines the appointment, roles, and reporting structure of the Internal Insurance Ombudsman, handling claims up to INR 50 lakh.

    Policy & regulationRules & requirementsComplaints and dispute resolution
  • 2025-07-23EuropeEuropean Insurance and Occupational Pensions Authority

    European Insurance and Occupational Pensions Authority finds progress but uneven approaches in insurers’ climate risk integration in ORSA

    The European Insurance and Occupational Pensions Authority (EIOPA) released a statement on a monitoring exercise regarding the integration of climate change-related risks into insurers' Own Risk and Solvency Assessment (ORSA). Findings show improved integration of climate risk assessments into risk management frameworks, though challenges and cross-country differences persist. EIOPA notes evolving supervisory practices and plans to support convergence and capacity building among national supervisors.

    SupervisionRisk monitoring & watch pointsClimate risk and sustainable finance
  • 2025-07-23Isle of ManThe Treasury (Isle of Man)

    Isle of Man Treasury amends Russia oil price cap general licence setting USD 100 premium and USD 45 discount thresholds

    The Isle of Man Treasury amended General Licence IOM/2024/RUS042, updating Oil Price Cap permissions for shipping Russian crude oil, setting prices at USD 100 for “premium to crude” and USD 45 for “discount to crude.” Conditions include exclusions for Designated Persons and a per-voyage attestation process for Tier 1 and Tier 2 providers. Additionally, General Licence INT/2024/4423849 was amended to reduce the crude oil price cap from USD 60.00 to USD 47.60, effective 2 September 2025, with a 45-day wind-down period for existing contracts.

    Policy & regulationRules & requirementsSanctions list update
  • 2025-07-23United Arab EmiratesCentral Bank of the UAE

    Central Bank of the United Arab Emirates and Presight launch joint venture to deliver AI-powered technology services for the FIT programme

    The Central Bank of the UAE (CBUAE) and Presight have launched a joint venture to advance the CBUAE’s Financial Infrastructure Transformation Programme. This initiative will provide AI-powered platforms and services for the UAE’s financial market infrastructure, focusing on systems like the Central Bank Digital Currency infrastructure, Instant Payments Platform, Domestic Card Scheme, National Card Switch, Real-Time Gross Settlement system, and Open Finance platform.

    Policy & regulationImplementation, projects & pilotsFintech and insurtechArtificial intelligenceMarket infrastructure
  • 2025-07-22MexicoMexico Comision Nacional Bancaria y de Valores (CNBV)

    Mexico's National Banking and Securities Commission signs agreement with the Tax Administration Service to introduce e.firma for regulatory processes

    Mexico's National Banking and Securities Commission (CNBV) and the Tax Administration Service (SAT) signed an agreement to integrate SAT’s e.firma into regulatory processes, enhancing digitalisation and security. Initially, Regulatory Report R24 will use e.firma for secure data transmission and authentication. The agreement also allows CNBV to use SAT services to streamline procedures and reinforce the legal validity of electronic documents.

    SupervisionCooperationSupervision process and methodologies
  • 2025-07-22Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority clears Sahem Financial Company to begin FinTech experiment for offering and investing in debt instruments

    The Saudi Arabia Capital Markets Authority announced that Sahem Financial Company has fulfilled the requirements for its Financial Technology Experimental Permit to test activities related to offering and investment in debt instruments. This follows a CMA Board decision granting the permit under the Capital Market Law and related regulations.

    SupervisionAuthorisations & approvalsRegulatory sandbox
  • 2025-07-22BahamasBahamas Securities Commission

    Securities Commission of The Bahamas re-issues public warning that FMFW Ltd is not registered or licensed for digital asset business

    The Securities Commission of The Bahamas warned that FMFW Ltd, a digital token exchange, is not registered or licensed. FMFW may be conducting activities requiring registration under Bahamian acts, including the Securities Industry Act, 2024, and the Digital Assets and Registered Exchanges Act, 2024. The Commission advises extreme caution when dealing with FMFW or its agents.

    SupervisionAlertsSecurities offerings and listings
  • 2025-07-22ItalyItalian Securities Commission (Consob)

    Italian Securities Commission statistical bulletin reports 13.6% rise in market capitalisation in H1 2025 alongside continued net delistings

    The Italian Securities Commission (Consob) reported a 13.6% increase in the total market value of shares traded on Italian markets, reaching EUR 949.7 billion by mid-2025. Trading activity surged across equity and fixed income markets, with notable increases in turnover for listed shares and government bonds. Despite this, the number of listed or traded companies declined, with Euronext Growth Milan experiencing its first negative net balance since 2020.

    Data & statisticsFinancial and market indicators
  • 2025-07-22PolandPolish Financial Supervision Commission (KNF)

    Polish Financial Supervision Commission working group launches consultation on using POLSTR reference index in new banking, leasing and factoring contracts

    The Polish Financial Supervision Commission's National Working Group for benchmark reform has initiated a consultation on a draft recommendation for using the POLSTR reference index and related indices in new contracts. The recommendation applies to banking products, leasing, and factoring.

    Policy & regulationGuidance & interpretationFinancial benchmarks
  • 2025-07-22SpainSpanish Securities Commission (CNMV)

    Spanish Securities Commission financial stability note keeps market stress in a medium risk zone and flags higher retail Ibex 35 trading

    The Spanish Securities Commission (CNMV) reported its market stress indicator is in a medium-risk zone due to US tariff uncertainty and the Israel–Iran conflict, with a reading of 0.29. The Financial Stability Note highlights high geopolitical, operational, market, and contagion risks, along with medium-to-long-term risks like cybersecurity and cryptoassets. It also notes increased correlation between major cryptoassets and traditional financial instruments, raising potential financial stability concerns.

    SupervisionRisk monitoring & watch pointsRisk analysis and outlookFinancial and market indicators
  • 2025-07-22BelgiumBelgium Financial Services and Markets Authority

    Belgium Financial Services and Markets Authority releases Retail Investor Dashboard showing record 94,000 ETF traders and 1.17 million share transactions in Q1 2025

    The Belgium Financial Services and Markets Authority's third Retail Investor Dashboard shows strong retail participation in Q1 2025, with significant increases in share and ETF trading after the 2 April US import tariff announcement. About 187,000 retail investors traded shares, and a record 94,000 traded ETFs, with ETFs attracting more new investors than shares for the second consecutive quarter. Despite increased trading, Belgian retail investors were net sellers of shares by value, mainly driven by men and those aged 60 and over.

    Data & statisticsActivity and performance reporting
  • 2025-07-22South AfricaNational Credit Regulator

    South Africa's National Credit Regulator urges men to save consistently and be credit savvy amid rising living costs

    The National Credit Regulator issued a consumer advisory urging men to manage personal finances better by adopting regular saving habits and cautious credit use amid rising household costs. The advisory highlights societal pressures on men as "breadwinners" leading to overspending and debt, and recommends practical steps such as budgeting, understanding rights under the National Credit Act, and using only NCR-registered credit providers.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-22South AfricaNational Credit Regulator

    South Africa's National Credit Regulator urges men to build savings and be credit savvy amid rising living costs

    South Africa's National Credit Regulator issued a consumer advisory for July's Savings Month and Men's Month, urging men to save consistently and use credit responsibly amid rising living costs. It emphasizes small, regular savings to build financial resilience and reduce reliance on high-interest credit. It also advises on understanding rights under the National Credit Act, sticking to a budget, and using only NCR-registered credit providers.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-22AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission sues Fortnum Private Wealth over alleged inadequate cybersecurity controls following a 9,000-client data breach

    ASIC has sued Fortnum Private Wealth Limited in the NSW Supreme Court for inadequate cybersecurity management as a financial services licensee. Allegations include insufficient policies, a data breach affecting over 9,000 clients, inadequate training, and lack of expertise. ASIC seeks declarations and a penalty.

    EnforcementInvestigations & enforcement actionsCyber resilience
  • 2025-07-22AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission launches review of debt management and credit repair services

    The Australian Securities & Investments Commission (ASIC) will review the debt management and credit repair sector for compliance, amid concerns of unfair practices affecting vulnerable consumers. The review will scrutinize about 100 licensees, focusing on unmet agreements, excessive fees, and poor communication. Following the 2021 licensing regime and actions against Bakken Holdings Pty Ltd and Chapter Two Holdings Pty Ltd, ASIC plans a public report in 2026 and may enforce against unfair or unlawful practices.

    SupervisionReviews, inspections & stress testsConsumer and investor protection
  • 2025-07-22UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market reports 29.5% rise in H1 2025 commodity exchange trading to UAH 188.5 billion

    The Ukraine National Commission on Securities and Stock Market reported a 29.5% increase in commodity exchange turnover to UAH 188.5 billion in H1 2025, driven primarily by a 58.5% rise in electricity trading. Unprocessed timber, natural gas, and coal also saw trading increases, while oil-industry commodities experienced declines, comprising 13.9% of total volume.

    Data & statistics
  • 2025-07-22UkraineUkraine National Commission on Securities and Stock Market

    Ukraine’s National Securities and Stock Market Commission sets technical parameters for XBRL filings and approves UA IFRS XBRL 2024 taxonomy format

    Ukraine’s National Securities and Stock Market Commission approved technical parameters for submitting financial statements in XBRL format to the Financial Reporting Center and the electronic format of the Taxonomy UA IFRS XBRL 2024. This move aims to standardize reporting conditions and enhance transparency and accountability. A complete transition to XBRL format for financial statements and management reports is planned for 2026.

    Policy & regulationRules & requirementsRegulatory reporting