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  • 2025-07-18IndiaIndia International Financial Services Centres Authority

    India International Financial Services Centres Authority initiates regulatory action against nine fund management entities for persistent non-compliance in GIFT IFSC

    The India International Financial Services Centres Authority (IFSCA) announced action against nine Fund Management Entities (FMEs) in GIFT IFSC for repeated breaches of the IFSCA (Fund Management) Regulations, 2025. Violations included premises being closed during operational hours and absence of Key Management Personnel (KMPs), contravening Regulation 7(5) and Regulation 10(1). IFSCA emphasized the need for FMEs to maintain functional offices and ensure KMP presence as per regulatory requirements.

    EnforcementInvestigations & enforcement actionsCompliance
  • 2025-07-18PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines hosts Stakeholders' Forum on Domestic Sukuk Issuance

    The Central Bank of the Philippines, through the BSP-led Islamic Finance Coordination Forum, hosted a Stakeholders' Forum on Domestic Sukuk Issuance to promote Islamic bonds and expand Shari’ah-compliant funding. Discussions covered the legal and regulatory framework for sukuk, ongoing policy work, and the need for collaboration following the government's USD 1 billion sukuk issuance. Over 100 participants, including public-sector bodies and Islamic finance advisers, attended.

    Policy & regulationCooperationMarket development
  • 2025-07-18VietnamVietnam State Securities Commission

    Vietnam State Securities Commission instructs applicants to pay VND 1,000,000 fee for reissued securities practising certificates

    The Vietnam State Securities Commission requires individuals listed in an attached notice to pay a VND 1,000,000 fee for the reissuance of securities practising certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer or directly, including recipient identification details. Failure to complete the reissuance procedure within one year will result in certificate cancellation.

    Policy & regulationRules & requirementsLicensing and supervisory fees
  • 2025-07-18GlobalBank for International Settlements

    Bank for International Settlements bulletin assesses Africa’s exposure to new US tariffs and highlights AfCFTA integration and digital finance as growth opportunities

    The Bank for International Settlements published a bulletin on Africa’s trade landscape, concluding that direct exposure to prospective new United States tariffs appears limited, but indirect spillovers via weaker global demand and tighter financial conditions could be significant. It highlights Africa’s small share of global goods trade and relatively high tariffs and non-tariff barriers, and argues that deeper regional integration under the African Continental Free Trade Area, higher value-added trade and stronger financial integration are key to resilience and medium-term growth.

    Research
  • 2025-07-18SerbiaNational Bank of Serbia

    National Bank of Serbia publishes inflation expectations survey showing financial sector at 3.5% and economy at 5.0%

    The National Bank of Serbia's Inflation Expectations Survey shows stable inflation expectations, with the financial sector's short-term expectations within the inflation target for eighteen months. June's short-term expectations were 3.5%, while July's Bloomberg poll indicated a slight decline to 3.4%. Medium-term expectations for the financial sector fell to 3.2%, while the economy's expectations remained at 5.0% for two and three years ahead.

    Data & statisticsEconomic data and developments
  • 2025-07-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission issues circular clarifying ETF market making, related-party index providers and BDR-ETF naming

    The Brazil Securities Commission (CVM) issued Circular Letter CVM/SIN 4/2025 to clarify rules on exchange-traded funds (ETFs), addressing market maker roles, index provider relationships, and naming practices for Brazilian Depositary Receipts of ETFs (BDR-ETFs). The circular prohibits portfolio managers from acting as market makers for their own funds but allows related parties. It clarifies exceptions to index provider relationship restrictions and permits "ETF Global" in BDR-ETF naming, provided compliance with regulations.

    Policy & regulationGuidance & interpretationMarket infrastructure
  • 2025-07-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission announces resignation of President João Pedro Nascimento and names Otto Lobo as interim head

    João Pedro Nascimento has resigned as President of the Brazil Securities Commission (CVM) for personal reasons, concluding his three-year term. His tenure focused on democratizing and modernizing Brazil’s capital markets. Otto Lobo, the most senior director, will assume interim responsibilities until a new nominee is appointed by the Presidency of the Republic.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission publishes three-year review highlighting ABERTO open capital markets programme and 70 regulatory resolutions

    The Brazil Securities Commission (CVM) reviewed initiatives under President João Pedro Nascimento, highlighting the ABERTO programme to enhance capital market participation. Key developments include increased funding, staffing enhancements, and a Regtech drive with digital upgrades. The CVM issued 70 new resolutions, including sustainability reporting requirements and investment portability rules, and reported significant growth in FIAGRO net assets and agribusiness receivables certificates.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-07-18PolandMinistry of Finance (Poland)

    Poland's Ministry of Finance reports on GIIF participation in the Egmont Group plenary where members agreed steps on FIU autonomy and the future of Egmont Secure Web

    Poland's Ministry of Finance reported on the General Inspector of Financial Information's participation in the 30th Egmont Group plenary session in Luxembourg, chaired by Deputy Director Elżbieta Franków-Jaskiewicz. Discussions included enhancing FIU autonomy, operational independence, resourcing, the future of the Egmont Secure Web platform, and establishing an International Day of FIUs. The session admitted four new FIUs, increasing total membership to 181.

    Policy & regulationCooperationAML and CFTDomestic cooperation
  • 2025-07-18AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan revokes Modenis LLC’s authorisation to issue electronic money

    The Central Bank of the Republic of Azerbaijan has amended Modenis LLC’s payment services licence, cancelling its authorization to issue electronic money and execute related transactions. This change, effective from 17 July 2025, follows a request from Modenis LLC. The firm will continue to operate as a payment institution.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-07-18AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan revokes Kabox LLC's payment institution licence for serious legal violations

    The Central Bank of the Republic of Azerbaijan has revoked Kabox LLC's licence to operate as a payment institution due to serious legal violations. The decision, based on Articles 54.1.7 and 54.1.9 of the Law on Payment Services and Payment Systems, was made by the Board on 17 July 2025.

    EnforcementSanctions & designationsLicence withdrawal
  • 2025-07-18AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan cancels TBC Kredit non-bank credit organisation licence on a voluntary basis

    The Central Bank of the Republic of Azerbaijan has cancelled the licence of "TBC Kredit" non-bank credit organisation LLC following the firm's application for withdrawal due to a strategic shift by TBC Bank Group. Effective 17 July 2025, this mandates TBC Kredit's cessation and liquidation under the Civil Code. A recent meeting between First Deputy Governor Aliyar Mammadeyarov and TBC Bank Group's Spartak Tetrashvili discussed financial trends and the group's potential future return to Azerbaijan.

    SupervisionAuthorisations & approvalsLicensing and supervisory fees
  • 2025-07-18AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority publishes 25 July Board agenda including 2024 Supervisory Report approval and amendments to asset administration rules

    The Albania Financial Services Authority released the agenda for its Board meeting on 25 July 2025, which includes a draft decision to approve the 2024 Supervisory Report and amend Regulation No. 146 on asset administration. The agenda also addresses supervisory and market oversight, including financial analyses of insurance companies and proposed risk-based inspections at Ansig sh.a. and Eurosig sh.a.

    Policy & regulationRules & requirementsMandate change
  • 2025-07-18ParaguayCentral Bank of Paraguay

    Central Bank of Paraguay and World Bank hold financial risk management workshop for official institutional portfolios

    The Central Bank of Paraguay and the World Bank held a July 14 to 18 workshop on financial risk management for official institutional portfolios. The sessions covered investment policy, liquidity, counterparty risk, limits, backtesting and artificial intelligence in asset management, with additional case studies from the Bank of Spain and the Latin American Reserve Fund. The event was framed as part of the central bank’s broader reserve management modernization under the World Bank’s RAMP program.

    Institutional developmentCooperation & capacity buildingRisk management
  • 2025-07-18CambodiaSecurities and Exchange Regulator of Cambodia

    Securities and Exchange Regulator of Cambodia witnesses MOUs between the Hong Kong Gold Exchange and Cambodian market participants

    The Securities and Exchange Regulator of Cambodia (SERC) attended the inauguration of the Hong Kong Gold Exchange's board and the 115th anniversary of the Chinese Gold & Silver Exchange in Hong Kong. SERC witnessed the signing of memoranda of understanding between the Hong Kong Gold Exchange and Cambodian firms, including Cambodian Derivatives Exchange Co., Ltd, PP Link Securities Co., Ltd, Cambodia Securities Plc, and First Gold.

    Policy & regulationCooperationMarket development
  • 2025-07-18MalaysiaBank Negara Malaysia

    Bank Negara Malaysia opens applications for the MIFC Global Impact Challenge 2025 to advance impact-driven Islamic finance solutions

    Bank Negara Malaysia and the Malaysia International Islamic Financial Centre Leadership Council launched the MIFC Global Impact Challenge 2025 to find financial solutions for social resilience and climate challenges. It aims to foster innovation in Islamic finance and support fintech and impact-focused startups. Partners include the Hong Kong Trade Development Council, Islamic Finance Council UK, Islamic Development Bank, and World Bank Group, with winners announced at the Global Islamic Finance Forum 2025.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-07-18PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission convenes second ASTIG partners meeting to coordinate anti-scam enforcement and AFASA implementation

    The Philippine SEC held the second Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting to enhance collaboration against financial scams. The meeting included 21 representatives from various agencies, discussing the Anti-Financial Account Scamming Act and its regulations. The SEC introduced an "ASTIG One-Pager" to aid public identification and reporting of scams, urging dissemination through partner networks.

    Policy & regulationCooperationAML and CFT
  • 2025-07-18CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario appoints Antoinette Leung Executive Vice President for Market Conduct

    The Financial Services Regulatory Authority of Ontario appointed Antoinette Leung as Executive Vice President, Market Conduct, effective 1 August 2025. Leung currently leads conduct supervision for financial institutions and mortgage brokerages and chairs key regulatory groups in Canada.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-18CroatiaCroatian Financial Services Supervisory Agency

    Croatian Financial Services Supervisory Agency publishes June 2025 statistics with mandatory pension fund assets at EUR 24.6bn and UCITS assets at EUR 3.7bn

    The Croatian Financial Services Supervisory Agency released its June 2025 statistics, highlighting growth in mandatory pension funds to EUR 24.6bn and voluntary pension funds to EUR 1.52bn. Insurance premiums rose 8.3% year-on-year to EUR 1.0bn, while claims settled decreased by 9.3% to EUR 594.1m. The Zagreb Stock Exchange saw a turnover of EUR 70.2m, with UCITS net assets increasing to EUR 3.7bn, driven by inflows into money market funds.

    Data & statistics
  • 2025-07-18United KingdomPrudential Regulation Authority

    United Kingdom's Prudential Regulation Authority confirms 2026 Dynamic General Insurance Stress Test will commence in May 2026

    The Prudential Regulation Authority (PRA) confirmed the 2026 Dynamic General Insurance Stress Test (DyGIST) will commence in May 2026, maintaining its original objectives and format. Insurers representing over 80% of the PRA-regulated market will participate, with final scenarios revealed during the live phase. Workshops will be held to support logistics and gather feedback.

    SupervisionReviews, inspections & stress testsStress testing
  • 2025-07-18ThailandThailand Securities & Exchange Commission

    Thailand Securities & Exchange Commission consults on ICO portal rules easing knowledge test retakes and mandating two-yearly suitability reviews

    The Thailand Securities & Exchange Commission is consulting on draft regulations for ICO portals, focusing on investor communication and service provision. Key proposals include a knowledge test for non-institutional investors and a suitability test for all digital token investors, with updates every two years. The SEC Board approved these proposals in principle in June 2025.

    Policy & regulationRules & requirementsFintech and insurtechRegulatory burden
  • 2025-07-18NigeriaCentral Bank of Nigeria

    Central Bank of Nigeria publishes Q2 2025 credit conditions survey showing higher credit availability and rising defaults

    The Central Bank of Nigeria's Q2 2025 Credit Conditions Survey shows increased credit availability for secured, unsecured, and corporate lending. Demand is rising for secured and corporate loans but declining for unsecured loans. Increased credit availability is due to an improved economic outlook for secured and corporate lending and a changing risk appetite for unsecured lending. Default rates have risen across all categories, with loan spreads widening for household lending and narrowing for corporate loans.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-18MaltaCentral Bank of Malta

    Central Bank of Malta signs studies support collaboration agreement with University of Malta to strengthen postgraduate education and research

    The Central Bank of Malta, the University of Malta, and the University Research, Innovation and Development Trust have signed a Studies Support Collaboration Agreement. This initiative aims to enhance postgraduate education and research in economics, banking, finance, insurance, and public policy.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-07-18CanadaDepartment of Finance (Canada)

    Department of Finance Canada reports on Minister Champagne’s G7 and G20 finance meetings focused on trade uncertainty and supply chain resilience

    The Department of Finance Canada reported on Minister François-Philippe Champagne’s participation in the G7 and G20 meetings in Durban, focusing on trade, economic policy uncertainty, and global economic discussions. At the G20, Champagne addressed international financial architecture, taxation, and Africa’s growth prospects, while holding bilateral meetings. Co-chairing the G7 session, discussions included trade routes, supply chain resilience, and Russia’s war against Ukraine, with Canada hosting G7 meetings throughout 2025.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-18RussiaCentral Bank of Russia

    Central Bank of Russia reports June banking data showing continued mortgage growth and a one-off driven rise in sector profits

    The Central Bank of Russia released preliminary June 2025 data showing growth in mortgage lending and a decline in consumer credit, with household deposits rebounding and monthly profitability rising due to a non-recurring factor. Mortgages increased by 0.6% month on month, while consumer loans fell by 0.4%. The sector's monthly profit reached RUB 392 billion, driven by a one-off release of provisions.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-18United StatesU.S. Financial Services Committee

    U.S. House Financial Services Committee highlights bipartisan House passage of the CLARITY Act for digital asset market structure

    The U.S. House Financial Services Committee highlighted bipartisan support for the Digital Asset Market Clarity (CLARITY) Act, H.R. 3633, aiming to establish a clearer regulatory framework for digital asset markets. The bill delineates oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, strengthens disclosures, and safeguards customer funds. Stakeholders emphasize governance, risk management, and investor protections, urging further legislative action as the bill moves to the Senate.

    Policy & regulationRules & requirements
  • 2025-07-18EuropeEuropean Commission

    European Commission consults on Solvency II delegated act changes to encourage insurers’ long-term equity and securitisation investment

    The European Commission's draft delegated act revises the Solvency II Delegated Regulation, seeking feedback on insurers' liability valuation, solvency requirements, and reporting obligations. Key proposals aim to facilitate long-term equity investments, mitigate short-term market volatility impacts, and ease securitisation investment barriers. The package also suggests simplified reporting for smaller insurers and recalibrated capital requirements for natural catastrophe risks.

    Policy & regulationRules & requirementsClimate risk and sustainable finance
  • 2025-07-18EuropeEuropean Commission

    European Commission details EU 18th Russia sanctions package cutting oil price cap to USD 47.6 and expanding transaction bans to 45 banks

    The European Commission announced the EU's 18th sanctions package against Russia, targeting energy revenues, the financial sector, and the military-industrial complex, while also addressing Belarus. Key actions include lowering the crude Oil Price Cap, imposing transaction bans on Nord Stream pipelines, expanding asset-freeze and travel-ban listings, and converting financial messaging service bans into full transaction bans for 45 entities. The package broadens export restrictions, adds designations related to military supply chains, and introduces protective measures against sanctions-related arbitration risks.

    Policy & regulationRules & requirementsNew sanctions designations
  • 2025-07-18ChileCentral Bank of Chile

    Central Bank of Chile launches consultation to extend close-out netting and collateralisation rules to repo transactions

    The Central Bank of Chile is consulting on draft rules to extend the derivatives position netting framework to repurchase and reverse repurchase agreements under the Resilience Law. The proposal aims to ensure legal certainty for close-out netting and collateral arrangements in insolvency situations, introducing safeguards to maintain system liquidity. Existing derivatives netting rules remain unchanged.

    Policy & regulationRules & requirementsMarket infrastructure
  • 2025-07-18MauritiusBank of Mauritius

    Bank of Mauritius issues new MUR 200 polymer banknotes with updated security features

    The Bank of Mauritius has issued new MUR 200 polymer banknotes, featuring a transparent window and a dodo image with a SwingTM feature, under section 35 of the Bank of Mauritius Act 2004. These polymer notes will circulate alongside existing paper notes, both remaining legal tender. The Bank is collaborating with financial institutions to ensure a smooth transition.

    Policy & regulationImplementation, projects & pilotsCurrency and cash management
  • 2025-07-18United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission praises House passage of the GENIUS Act and progress on the CLARITY Act for digital asset markets

    CFTC Acting Chairman Caroline D. Pham welcomed the House's progress on digital asset legislation, including the GENIUS Act's passage and the CLARITY Act's advancement. Pham noted the GENIUS Act is now with the President and emphasized the CLARITY Act's importance in market regulation. She affirmed the CFTC's readiness to oversee its markets and acknowledged congressional leaders' efforts.

    Policy & regulationRules & requirements
  • 2025-07-18United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission convenes third annual London regulators roundtable on AI governance cyber resilience and digital assets

    CFTC Commissioner Kristin Johnson led the third annual international financial markets regulation roundtable in London, addressing challenges from emergent technologies like AI, cyber threats, and digital assets. Johnson stressed the need for robust governance, ethical design, and global regulatory coordination in AI use, highlighting cyber resilience as crucial for market integrity. Major regulatory bodies like the Bank of England, Financial Conduct Authority, and European Securities and Markets Authority participated.

    Policy & regulationCooperationArtificial intelligenceCyber resilience
  • 2025-07-18United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission withdraws staff advisory on prime brokerage arrangements and derivatives clearing organization registration

    The Commodity Futures Trading Commission’s Division of Clearing and Risk has withdrawn CFTC Letter No. 23-06, which was a staff advisory on prime brokerage arrangements and derivatives clearing organization registration. Market participants are advised to contact Division staff regarding any potential registration requirements.

    Policy & regulationGuidance & interpretationLicence withdrawal
  • 2025-07-18MoldovaNational Commission for Financial Markets

    Moldova's National Commission for Financial Markets orders TRANSELIT to stop aggressive insurance practices and tells AVENTUS FINANCE to refund unlawful consumer credit payments

    Moldova's National Commission for Financial Markets made decisions on securities issuance, insurance conduct, and consumer credit, including removing RENET SA's shares from the register and prohibiting TRANSELIT from aggressive claims practices. TRANSELIT breached consumer protection laws and must comply with previous decisions. AVENTUS FINANCE was directed to reimburse excess consumer credit payments due to a repayment schedule error.

    SupervisionInterventionsConsumer and investor protection
  • 2025-07-18United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission asks staff to assess guidance and possible rulemaking for registrants using payment stablecoins under the GENIUS Act

    The U.S. Securities & Exchange Commission (SEC) released a statement from Chairman Paul S. Atkins on the GENIUS Act, establishing a new framework for payment stablecoins and its impact on the securities industry. The SEC is considering if further guidance or rulemaking is needed to support registrants' use of payment stablecoins. Market participants are encouraged to engage with SEC staff to explore the Act's potential benefits for securities markets.

    Policy & regulationGuidance & interpretationStablecoinsBlockchain and distributed ledger technology
  • 2025-07-18United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission Commissioner Peirce calls for SEC guidance after GENIUS Act confirms payment stablecoins are not securities

    U.S. SEC Commissioner Hester M. Peirce stated the GENIUS Act confirms payment stablecoins are not securities, placing oversight with state and federal banking regulators. Peirce urged the SEC to clarify registrants' use of payment stablecoins and invited engagement with the SEC’s Crypto Task Force to enhance customer service. The GENIUS Act aims to protect users and the financial system by establishing a regulatory framework for stablecoins.

    Policy & regulationGuidance & interpretationStablecoins
  • 2025-07-18VietnamState Bank of Vietnam

    State Bank of Vietnam releases environmental and social risk management handbook and reports green credit above VND 704 trillion

    The State Bank of Vietnam, with GIZ, IFC, and SECO, held a roundtable to advance the banking sector's action plan for Vietnam's 2021–2030 green growth strategy, releasing a handbook on environmental and social risk management for credit activities. Discussions highlighted a USD 250 billion funding shortfall, progress on the national green taxonomy, and the banking sector plan's status. The bank reported outstanding green credit of VND 704.244 trillion by March 2025, with plans to refine the legal framework and explore interest-rate support for green projects.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-07-18EuropeEuropean Central Bank - Banking Supervision

    European Central Bank imposes €6.94 million penalty on Belfius for internal model implementation and audit breaches

    The European Central Bank Banking Supervision has fined Belfius Banque S.A. €6.94 million for failing to comply with internal-rating-based model requirements for risk measurement. The penalty addresses delays in implementing updated models and inadequate internal audit testing and validation, with the breach classified as "severe." Belfius may contest the decision at the Court of Justice of the European Union.

    EnforcementInvestigations & enforcement actionsCapital adequacy
  • 2025-07-18United StatesOffice of the Comptroller of the Currency

    Office of the Comptroller of the Currency welcomes GENIUS Act enactment and prepares to regulate nonbank payment stablecoin issuers

    The Office of the Comptroller of the Currency (OCC) will expedite the implementation of the GENIUS Act, which extends its regulatory authority to nonbank payment stablecoin issuers, according to Comptroller Jonathan V. Gould.

    Policy & regulationImplementation, projects & pilotsStablecoinsTokenization
  • 2025-07-18ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission chair highlights enacted virtual asset service provider rules and tokenisation framework at crypto AML/CFT/CPF roundtable

    The Argentina Securities Commission's chair, Roberto E. Silva, discussed regulatory challenges of cryptoassets at a Public College of Lawyers event, highlighting CNV's initiatives for Virtual Asset Service Providers and tokenisation. Silva emphasized that these frameworks, developed with industry input, position Argentina as a leader in virtual asset regulation.

    Policy & regulationGuidance & interpretationFintech and insurtechRegtech and suptech
  • 2025-07-18ChinaChina Banking and Insurance Regulatory Commission

    China Banking and Insurance Regulatory Commission deploys party-building priorities and ties them to small financial institution reform and risk prevention

    The China Banking and Insurance Regulatory Commission, led by Party Secretary and Commissioner Li Yunze, held a meeting to prioritize embedding Party leadership in supervisory work. The plan emphasizes political development, anti-corruption, reform of small and medium-sized financial institutions, curbing formalism, and enhancing financial consumer protection. Party-building is integral to advancing reform and risk resolution.

    Institutional developmentGovernanceOrganizational structure
  • 2025-07-18IndiaSecurities & Exchange Board of India

    Securities and Exchange Board of India launches Securities Market Hackathon with BSE, CDSL, NSDL and KFintech at Global Fintech Fest 2025

    The Securities and Exchange Board of India launched a Securities Market Hackathon at Global Fintech Fest 2025 with BSE, CDSL, NSDL, and KFintech. It aims to develop digital-first solutions for securities market challenges, focusing on fraud prevention, retail investor education, liquidity improvement, and compliance monitoring. Cash prizes and mentorship through the SEBI Innovation Sandbox are offered for selected solutions.

    Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
  • 2025-07-18United Arab EmiratesGeneral Pension and Social Security Authority

    United Arab Emirates' General Pension and Social Security Authority launches phase two of the Wafra programme with NAFIS to boost financial literacy

    The UAE's Pension and Social Security Authority and Emirati Talent Competitiveness Council launched Wafra's second phase to enhance financial literacy among Emirati private sector employees. Delivered via the NAFIS platform, Wafra offers training on financial planning, investment strategies, social insurance laws, and debt management. The initiative aims to boost financial planning awareness by 80% and improve understanding of saving, investing, and pension rights.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-18MoldovaNational Bank of Moldova

    National Bank of Moldova publishes H1 2025 cash operations data showing bank cash withdrawals exceeded receipts by MDL 2,383.9 million

    The National Bank of Moldova reported that cash disbursements from bank cash desks exceeded receipts by MDL 2,383.9 million for January–June 2025. Receipts increased by 5.5%, driven by consumer goods sales and inflows to individuals' accounts, while disbursements rose by 5.9%, mainly due to foreign currency purchases and ATM withdrawals.

    Data & statisticsCurrency and cash management
  • 2025-07-18MoldovaNational Bank of Moldova

    National Bank of Moldova reports June 2025 new loans up 6% to MDL 6,952.8 million with higher leu rates and lower FX rates

    The National Bank of Moldova reported that new loans in June 2025 totaled MDL 6,952.8 million, a 6.0% increase from May, with leu-denominated loans comprising 75.6% of the total. The average nominal interest rate on new leu loans rose to 9.04%, while the rate on foreign-currency loans decreased to 5.20%. Households primarily borrowed for consumption, and legal entities saw a significant rise in foreign-currency and exchange-rate-indexed lending.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-18MoldovaNational Bank of Moldova

    National Bank of Moldova reports June 2025 new term deposits down 15.2% month on month to MDL 3,445.0 million

    The National Bank of Moldova reported a 15.2% decrease in new term deposits to MDL 3,445.0 million in June 2025, with Moldovan lei deposits falling 20.7% and foreign-currency deposits rising 4.6%. The average nominal rate on new MDL deposits decreased to 4.66%, while foreign-currency deposit rates increased to 1.47%. Household deposits saw a 66.3% year-on-year increase in MDL and a 12.3% rise in foreign currency, while corporate MDL deposits more than doubled and foreign-currency deposits rose 22.6% compared to June 2024.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-18United StatesThe White House

    The White House signs GENIUS Act into law establishing a federal regulatory framework for stablecoins

    President Donald J. Trump signed the GENIUS Act, creating the first federal regulatory framework for stablecoins. The Act mandates 100% reserve backing in liquid assets, monthly reserve disclosures, and marketing restrictions, aligning State and Federal frameworks. It prioritizes stablecoin holders in insolvency and subjects issuers to the Bank Secrecy Act, requiring technical capabilities to seize, freeze, or burn stablecoins as legally necessary.

    Policy & regulationRules & requirementsStablecoins
  • 2025-07-18United StatesU.S. Department of the Treasury

    U.S. Department of the Treasury welcomes enactment of GENIUS Act as regulatory clarity for stablecoins

    The U.S. Department of the Treasury announced the GENIUS Act, signed by the President, to provide regulatory clarity for the stablecoin market and bolster the USD's role in digital finance. Treasury Secretary Scott Bessent highlighted stablecoins as a potential global payment rail that could enhance access to the dollar economy and increase demand for U.S. Treasuries. The Act is expected to support the stablecoin market's growth into a multitrillion-dollar industry.

    Policy & regulationGuidance & interpretationStablecoins
  • 2025-07-18United KingdomThe Pensions Regulator

    The Pensions Regulator fines NOW: master trust and trustee GBP 100,000 for failing to report significant events and legal breaches promptly

    The Pensions Regulator (TPR) fined NOW: Pensions Ltd and NOW: Pension Trustee Ltd GBP 50,000 each for failing to promptly report significant events and breaches of law, affecting over 80,000 statutory communications. The enforcement highlights deficiencies in reporting processes under the significant event regime, impacting members' rights under automatic enrolment legislation. TPR's report details the actions taken and notes improvements in NOW's reporting processes.

    EnforcementInvestigations & enforcement actionsOperational risk and resilience
  • 2025-07-18Cayman IslandsCayman Islands Monetary Authority

    Cayman Islands Monetary Authority to require notarised affidavits again for mutual and private fund applications from 15 October 2025

    The Cayman Islands Monetary Authority will withdraw its COVID-19-era allowance permitting fund operators to submit operator letters instead of notarised affidavits for registration and licensing applications under the Mutual Funds Law and Private Funds Law, effective 15 October 2025. Applications must include duly notarised affidavits per standard requirements, with non-compliance potentially delaying processing.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-07-18Isle of ManThe Treasury (Isle of Man)

    Isle of Man Treasury publicises 19 new cyber sanctions asset-freeze designations and amends two existing GRU entries

    The Isle of Man Treasury updated the UK Sanctions List under the UK cyber sanctions regime, adding nineteen new entries and amending two, all subject to an asset freeze. The amended entries pertain to Russian military intelligence cyber units, with updated identifying information and reasons for designation. Institutions must comply with asset freeze requirements, manage false positives, and report to the Financial Intelligence Unit.

    Policy & regulationRules & requirementsSanctions list update
  • 2025-07-18AustraliaDepartment of Treasury (Australia)

    Australia's Department of the Treasury launches consultation on sustainable investment product labels with a 2027 commencement target

    Australia's Treasury released a consultation paper on a Sustainable Financial Product Labelling framework to help retail investors identify sustainable investments. It addresses investor confusion and greenwashing risks, proposing design choices, mandatory labelling triggers, and substantiation methods. It references existing disclosure obligations and ASIC's greenwashing enforcement, including an AUD 11.3 million penalty against Mercer Superannuation (Australia) Limited.

    Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
  • 2025-07-18MontserratMinistry of Finance & Economic Management (Montserrat)

    Montserrat's Ministry of Finance & Economic Management attends 111th Eastern Caribbean Central Bank Monetary Council meeting in Barbuda

    Montserrat's Ministry of Finance & Economic Management announced Premier Reuben T. Meade's participation in the 111th ECCB Monetary Council meeting in Barbuda. The meeting, chaired by Antigua and Barbuda’s Finance Minister Gaston Browne, included a report by ECCB Governor Timothy N.J. Antoine on global economic developments, the ECCU economic outlook, and updates on regional projects.

    Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
  • 2025-07-17BulgariaBulgaria Financial Supervision Commission

    Bulgaria Financial Supervision Commission approves FS Holding BGN 18 million bond prospectus and registers Green Innovation share issue for regulated market trading

    The Bulgaria Financial Supervision Commission approved a prospectus for FS Holding AD's BGN 18 million bond issue and registered Green Innovation AD's share issue for trading. Additionally, the FSC granted authorisations and approvals affecting an asset manager, a REIT, and a feeder fund structure. Manikyan Capital AD was notified of a pending management company licence contingent on capital certification.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-17AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission registers TECNOESTRUTURA as a real estate valuation expert for collective investment undertakings

    The Angola Capital Markets Commission has approved TECNOESTRUTURA-Engenharia e Gestão de Projectos, Lda. as a Real Estate Valuation Expert for Collective Investment Undertakings. Additionally, individual valuers Manuel José Pascoal and Terêncio Culhinga Muandumba Araújo are registered to act exclusively for TECNOESTRUTURA. The firm is authorized to value real estate assets in collective investment portfolios.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-17AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission approves registration of Standard Rendimento+ closed-end special securities investment fund

    The Angola Capital Markets Commission approved the Standard Rendimento+ Fundo Especial de Investimento em Valores Mobiliários Fechado, a closed-end special investment fund. The fund aims for portfolio diversification with competitive returns compared to traditional short-term placements. Its strategy includes Treasury bonds, corporate debt, and short-term instruments in Angola's money and capital markets.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-17AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission approves registration of the BFA AM Emerging Income Fund for public subscription

    The Angola Capital Markets Commission has approved the registration of the BFA AM Emerging Income Fund, a closed-end special securities investment fund. The fund aims to generate income and capital growth through long-term exposure to emerging markets, with potential investments outside Angola.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-17AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission approves registration of Jim Simons Commodities closed-end public subscription securities investment fund

    The Angola Capital Markets Commission approved the Jim Simons Commodities – Closed-End Special Securities Investment Fund for public subscription. The fund aims to build a portfolio of assets in the national currency, focusing on short-term interest rate movements, exchange rate variation, and issuer credit quality. Its investment strategy includes money market instruments, debt securities, equities, and other financial instruments.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-17South AfricaNational Treasury (South Africa)

    South Africa's National Treasury outlines agenda for final G20 Finance Ministers and Central Bank Governors meeting focused on international financial architecture reform

    South Africa's National Treasury released Finance Minister Enoch Godongwana’s remarks for the G20 Finance Ministers and Central Bank Governors meeting, highlighting fragile global growth, rising debt vulnerabilities, and a USD 4 trillion annual financing gap for Sustainable Development Goals. The agenda includes discussions on global macroeconomic risks, international financial architecture reform, infrastructure finance mobilisation, and challenges to development and growth in Africa, as well as sustainable finance, financial sector issues, and financial inclusion.

    Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
  • 2025-07-17Saudi ArabiaMinistry of Finance (Saudi Arabia)

    Saudi Arabia's Ministry of Finance to head delegation to third G20 finance ministers and central bank governors meeting under South Africa’s presidency

    Saudi Arabia’s Finance Minister Mohammed Aljadaan will lead the Kingdom’s delegation, including Saudi Central Bank Governor Ayman Al-Sayari, to the G20 Finance Ministers and Central Bank Governors meeting in South Africa on July 17-18. The meeting will address global economic developments and financial stability, with participation from G20 finance ministers, central bank governors, and international financial organisations.

    Policy & regulationCooperation
  • 2025-07-17BoliviaCentral Bank of Bolivia

    Central Bank of Bolivia reports BCB Bicentenario bond sales exceed BOB 102 million across all nine departments

    The Central Bank of Bolivia reported that demand for the Bono BCB Bicentenario has driven total placements above BOB 102 million as of 15 July, with La Paz accounting for 77.0% of placements. The bond offers a 9.75% fixed annual rate plus a variable return indexed to the international gold price, potentially reaching a total return of 14.75%. Available until 31 August 2025, the bond can be purchased by individuals through the central bank's website and partner financial institutions.

    Monetary policyMonetary policy instruments & operationsOther
  • 2025-07-17AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission issues infringement notices to AFS licensees over personal advice given while advisers were unregistered

    The Australian Securities & Investments Commission (ASIC) fined Sky Money Pty Ltd and Smart Financial Capital Pty Ltd AUD 31,300 each for allowing unregistered advisers to provide personal advice to retail clients. Both firms registered the advisers and self-reported the breaches, which ASIC considered in its enforcement. ASIC emphasized that advisers must be registered before giving personal advice, noting five infringement notices issued in 2025 for similar breaches. Payment of the notice does not imply guilt or liability.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-17AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission cancels seven credit licences and suspends one for failing to maintain AFCA membership

    The Australian Securities & Investments Commission (ASIC) cancelled seven Australian credit licences and suspended one for not maintaining mandatory membership with the Australian Financial Complaints Authority (AFCA). This occurred between 24 March and 11 July 2025, affecting entities like Glove Finance Pty Ltd and Capital House Pty Ltd. ASIC also noted failures in lodging annual compliance certificates, paying industry funding levies, and ceasing credit activities. Affected licensees may appeal to the Administrative Review Tribunal.

    SupervisionAuthorisations & approvalsCompliance
  • 2025-07-17AustraliaAustralian Competition and Consumer Commission

    Australian Competition and Consumer Commission grants AusPayNet interim authorisation to continue IAC certification suspension and termination provisions pending reauthorisation

    The Australian Competition and Consumer Commission granted interim authorisation for Australian Payments Network Limited to maintain certain regulatory provisions while assessing its reauthorisation application, as the current authorisation expires on 1 August 2025.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-17AlgeriaCentral Bank of Algeria

    Central Bank of Algeria issues instruction setting travel foreign exchange allowance at EUR 750 for adults and EUR 300 for minors

    The Central Bank of Algeria issued Instruction No. 05-2025, setting the foreign exchange travel allowance for resident national citizens at EUR 750 for adults and EUR 300 for minors, effective 20 July 2025. The bank has coordinated operational arrangements to ensure smooth distribution.

    Policy & regulationRules & requirementsCurrency and cash management
  • 2025-07-17MozambiqueMinistry of Finance (Mozambique)

    Mozambique's Ministry of Finance holds Inhambane seminar on DNFBP AML and CFT obligations to support exit from the FATF grey list

    Mozambique's Ministry of Finance held a seminar in Inhambane to educate non-financial businesses on anti-money laundering and counter-terrorist financing. Part of efforts to exit the Financial Action Task Force grey list, it addressed grey-listing's impact on investor confidence and currency circulation, emphasizing improved supervision of sectors like casinos, bureaux de change, and real estate to prevent illicit funds.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-07-17UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market reiterates oversight as the 2025–26 grain exchange trading season begins

    The Ukraine National Commission on Securities and Stock Market announced the commencement of the new grain exchange trading season, with initial contracts already concluded on the Ukrainian Universal Exchange. An early deal involved 100 tonnes of new-crop wheat valued at over UAH 800,000. The Commission emphasized exchange trading's role in fair pricing, risk reduction, and transparency, while promoting compliance and modern technologies.

    SupervisionSupervision approach, priorities & toolkitTrading
  • 2025-07-17AngolaMinistry of Finance (Angola)

    Angola's Ministry of Finance highlights strengthened AML/CFT and governance requirements for insurers including independent compliance functions

    Angola's Ministry of Finance noted the insurance sector's stable claims ratio and transformation due to strengthened AML/CFT and governance expectations. Recent legislative updates include amendments to Law 5/20 and Law 18/22, affecting AML/CFT obligations and insurers' structures. The pending publication of amended Notice 3/21 was noted as a forward-looking step.

    Policy & regulationRules & requirementsAML and CFTCorporate governance
  • 2025-07-17PeruCentral Bank of Peru

    Central Bank of Peru reports non-traditional exports up 17% year on year in May

    The Central Bank of Peru reported a 17% year-on-year increase in non-traditional exports for May, driven by a 21.5% rise in exported volumes from fisheries and agriculture. Non-traditional exports reached USD 8.698 billion from January to May 2025, marking a 24% increase from the same period in 2024. Peru led regional growth in non-traditional exports over the past 12 months at 22.4%, surpassing Colombia, Chile, Mexico, and Brazil.

    Data & statisticsEconomic data and developments
  • 2025-07-17AustraliaAustralian Transaction Reports and Analysis Centre (AUSTRAC)

    Australian Transaction Reports and Analysis Centre sets 2025–26 regulatory priorities as AML/CTF reforms prepare to bring 80,000 new tranche 2 businesses into scope

    AUSTRAC has released its 2025–26 regulatory priorities, emphasizing an outcomes-focused approach in the anti-money laundering and counter-terrorism financing framework. The strategy prioritizes sector-level risk assessments, particularly in cash and digital currencies, and outlines expectations for current and tranche 2 reporting entities to enhance controls and compliance by mid-2026. AUSTRAC plans to support these efforts with tailored guidance, education, and direct sector communications.

    Policy & regulationReform agendas & prioritiesAML and CFT
  • 2025-07-17EcuadorSuperintendencia de Bancos de Ecuador

    Ecuador's Superintendence of Banks advances the CLEAR platform project to strengthen PEP monitoring and anti-money laundering supervision

    Ecuador's Superintendence of Banks launched a modernization project to enhance supervisory and risk-control mechanisms for money laundering, focusing on politically exposed persons. Supported by the U.S. Embassy and the Organization of American States, the initiative includes an interoperable technology platform with advanced analytics and financial crime prevention tools. The project aims for widespread adoption of the PEP query platform and improved information sharing.

    Institutional developmentTechnology & data transformationAML and CFT
  • 2025-07-17IndonesiaOJK

    Indonesia Financial Services Authority issues three circular letters tightening periodic reporting and competency certification across insurance, guarantee and pension funds

    Indonesia’s Financial Services Authority (OJK) issued three circular letters to enhance transparency and accountability in the insurance, guarantee, and pension fund sectors. These include updated reporting requirements for pension funds and insurance intermediaries, and detailed rules on competency certification for industry staff. Affected entities must adjust internal policies to comply, with OJK overseeing implementation.

    Policy & regulationRules & requirementsAccounting and financial reporting
  • 2025-07-17GeorgiaInsurance State Supervision Service of Georgia

    Insurance State Supervision Service of Georgia presents 2024 sector report and 2025-2029 development strategy to its Supervisory Board

    The Insurance State Supervision Service of Georgia presented its 2024 insurance sector report and 2025-2029 development strategy to the Supervisory Board, noting 18% market growth in 2024 and increases in insurers' assets and net profits. Medical insurance was identified as the largest segment, comprising 42% of the market, with plans to introduce voluntary private pension schemes in 2025. The meeting included board members, ministers, and representatives from the Business and Employers’ Associations.

    SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
  • 2025-07-17GeorgiaNational Bank of Georgia

    National Bank of Georgia advances cooperation talks with China’s CIPS to expand Georgian banks’ access to cross-border payments

    The National Bank of Georgia and China's Cross-Border Interbank Payment System (CIPS) discussed enhancing Georgian financial institutions' access to CIPS's global payment network. The meeting, following a memorandum with the People’s Bank of China, focused on improving payment connectivity and Georgia's role in the Middle Corridor. CIPS, with over 4,700 participating banks globally, aims to streamline transactions between Georgia and China.

    Policy & regulationCooperationCross-border payments
  • 2025-07-17ChinaCentral Bank of the Republic of China

    People's Bank of China and Ministry of Agriculture and Rural Affairs set out measures to expand credit and financing tools for rural reform and rural revitalisation

    The People's Bank of China and the Ministry of Agriculture and Rural Affairs issued guidance to enhance financial services for rural reform and revitalisation, focusing on increased financial resource allocation to priority rural areas. Key measures include expanded credit support for grain security, rural infrastructure, and agricultural technology, alongside new collateral approaches and rural revitalisation bonds. The guidance also emphasizes improved credit management and reforms for rural credit unions and village banks.

    Policy & regulationGuidance & interpretationFinancial inclusion
  • 2025-07-17PortugalPortuguese Insurance Regulator (ASF)

    Portugal's Insurance and Pension Funds Supervisory Authority publishes a consolidated market conduct and complaints handling rulebook for insurers and pension fund managers

    Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released a framework on market conduct and complaints management for insurers and pension fund managers. The rules extend to cross-border occupational pension institutions and require board-approved procedures, a central complaint-handling function, and structured supervisory reporting. Firms must assign board-level responsibility for market conduct and ensure periodic internal audits, with phased implementation provisions for governance and reporting requirements.

    Policy & regulationRules & requirementsComplaints and dispute resolution
  • 2025-07-17United KingdomFinancial Conduct Authority

    Financial Conduct Authority consults on regulating unregulated BNPL with affordability checks, customer support requirements and Ombudsman access from 2026

    The Financial Conduct Authority (FCA) proposes regulating unregulated Buy Now Pay Later (BNPL) lending by 2026, aligning protections with consumer credit regulations. Lenders must assess borrower affordability, support customers in financial difficulty, and ensure access to the Financial Ombudsman Service for disputes. The FCA will rely on existing requirements, including the Consumer Duty, and implement a temporary permissions regime for the transition to full authorisation.

    Policy & regulationRules & requirementsBNPL
  • 2025-07-17BoliviaFinancial System Supervisory Authority of Bolivia

    Bolivia's Financial System Supervisory Authority reports credit portfolio up 4.4% year on year to BOB 226.721bn at end-June 2025

    Bolivia's Financial System Supervisory Authority reported mid-year financial indicators, with credit outstanding at BOB 226.721bn, a 4.4% increase from the previous year, and deposits at BOB 224.106bn, up 1.3%. The non-performing loan ratio remained stable at 3.2%, while the capital adequacy ratio was 14.6%. Sector profits rose 29.2% to BOB 1.140bn, with liquid assets at BOB 71.151bn and a liquidity ratio of 63.2%.

    Data & statisticsLiquidity riskPrudential risks
  • 2025-07-17Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission reports Market Misconduct Tribunal orders over HKD 1 million disgorgement and four-year bans for Dan Form insider dealing

    The Hong Kong Securities and Futures Commission announced that the Market Misconduct Tribunal found Cynthia Chen Si Ying and her associate Wen Lide guilty of insider dealing in Asiasec Properties Limited shares, ordering disgorgement of over HKD 1 million in illicit profits. Chen was disqualified from managing any listed corporation in Hong Kong for four years, and both were subjected to cold shoulder and cease and desist orders. The Tribunal also recommended disciplinary action against Chen by the Hong Kong Chartered Governance Institute.

    EnforcementInvestigations & enforcement actionsMarket abuse
  • 2025-07-17FranceBank of France

    Bank of France annual report on regulated savings reports EUR 20.1bn net inflows in 2024 and lower Livret A and LEP rates from August 2025

    The Bank of France's 2024 report on regulated savings highlights continued household use of products like Livret A and the Popular Savings Booklet (LEP) amid slowing inflation and adjusted remuneration rates. Net flows into regulated savings reached EUR 20.1bn, with Livret A accounting for EUR 432bn of outstandings. The report also notes EUR 21bn in new loans for social housing and EUR 240bn in loans supporting energy transition, with the household saving rate at 18% of disposable income.

    Data & statistics
  • 2025-07-17GlobalInternational Association of Insurance Supervisors

    International Association of Insurance Supervisors and World Bank Group to publish G20 guide for action on narrowing natural catastrophe insurance protection gaps

    The International Association of Insurance Supervisors, G20 South African Presidency, and World Bank Group hosted a G20 side event on natural catastrophe insurance protection gaps and disaster risk mitigation. The event highlighted a 62% global protection gap in 2023, with higher rates in emerging markets, and advocated for public-private partnerships, parametric insurance, and regional risk pooling. An IAIS-World Bank Group input paper will be published next week to guide jurisdictions on these issues.

    Policy & regulationGuidance & interpretationNature-related risk
  • 2025-07-17CyprusCyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission announces Administrative Court annulment of EUR 6,388,300 and EUR 50,000 fines over improper board composition

    The Cyprus Securities and Exchange Commission (CySEC) announced that the Administrative Court annulled its 2017 sanctions against Ioannis and Amalia Vardinoyiannis related to their share acquisition in Sea Star Capital Plc. The court found procedural issues, specifically improper board composition during a critical meeting, leading to the annulment of fines totaling EUR 6,438,300.

    EnforcementSanctions & designationsMarket abuse
  • 2025-07-17CyprusCyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission appeal dismissed as Supreme Constitutional Court upholds annulment of EUR 45,000 fine

    The Cyprus Securities and Exchange Commission's appeal was dismissed by the Supreme Constitutional Court, which upheld the annulment of a EUR 45,000 fine against Stavros Hadjikyriakos. The fine, originally imposed for breaches of investment law, was annulled due to the unlawful composition of CySEC's Board at the time. The court found the appointment of a CySEC Board member by the Council of Ministers to be improper and invalid.

    EnforcementInvestigations & enforcement actionsOther
  • 2025-07-17UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan signs MoU with two Tashkent universities to expand research and training opportunities

    The Central Bank of the Republic of Uzbekistan signed a Memorandum of Understanding with Tashkent State University of Economics and Westminster International University in Tashkent to foster academic cooperation and talent development. The agreement includes opportunities for master's and PhD students, collaborative research, internships, and expert-led seminars.

    Institutional developmentCooperation & capacity buildingCapacity building
  • 2025-07-17TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan advances insurance rulemaking and builds a Unified Electronic Insurance System

    The National Bank of the Republic of Tajikistan reviewed the insurance sector's performance, setting priorities to enhance supervision and digitisation, aligning with international standards. Regulatory acts were drafted under the Law on Insurance Activity, addressing reserve funds, policy information, financial statement deadlines, and account descriptions. The bank is also developing a "Unified Electronic Insurance System" to digitise operations and improve service quality.

    Policy & regulationRules & requirementsFinancial stability and systemic riskMarket development
  • 2025-07-17EuropeEurosif

    Eurosif launches the Eurosif Club and announces its first partner firms

    Eurosif has launched the Eurosif Club to unite European companies in sustainable finance, promoting EU sustainable finance rules. The club serves as a forum for discussing sustainable finance requirements, implementation issues, and regulatory changes amid the European Commission's Omnibus programme. Initial partners include Amundi, Astra Diligence, Deloitte (Luxembourg), Generation Impact Global, Mirova, Pax Asset Management, and Tauw.

    OtherClimate risk and sustainable finance
  • 2025-07-17United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs chairman welcomes House passage of GENIUS Act payment stablecoin framework

    The U.S. Senate Committee on Banking, Housing and Urban Affairs announced the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, co-sponsored by Senate Banking Committee Chairman Tim Scott. The Act establishes a regulatory framework for payment stablecoins focusing on consumer protection and national security. It is the first bipartisan digital assets legislation to pass both the Senate and the House. Led by Senator Bill Hagerty, the bill was advanced by the Senate Banking Committee in March and passed by the Senate on June 17, 2025, with President Trump endorsing it.

    Policy & regulationRules & requirements
  • 2025-07-17United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member urges FSOC to stress test private credit and questions rating agencies on product ratings

    Senator Elizabeth Warren urged the Financial Stability Oversight Council (FSOC) to conduct a stress test on nonbank financial institutions' private credit exposures, highlighting risks such as opacity and liquidity in the USD 1.7 trillion private credit market. She also requested credit rating agencies to clarify their business practices and rating methodologies for private credit products.

    Policy & regulationImplementation, projects & pilotsCredit riskStress testing
  • 2025-07-17SpainBank of Spain

    Bank of Spain reports general government debt declined to 102.3% of GDP in May 2025 under the Excessive Deficit Procedure

    The Bank of Spain reported that the Spanish general government debt ratio was 102.3% of GDP in May 2025, a decrease of 2 percentage points from the previous year. In absolute terms, debt rose to EUR 1.663 trillion, a 3.5% increase year on year. State debt increased by 4.4% to EUR 1.509 trillion, while social security debt rose by 8.6% to EUR 126 billion, attributed to State loans to the General Treasury of Social Security.

    Data & statisticsBalance of payments and other external statistics
  • 2025-07-17United Arab EmiratesUAE Securities & Commodities Authority

    UAE Securities & Commodities Authority CEO Waleed Al Awadhi elected chair of IOSCO Africa and Middle East Regional Committee

    Waleed Saeed Al Awadhi, CEO of the UAE Securities & Commodities Authority, has been elected chair of the International Organization of Securities Commissions’ Africa and Middle East Regional Committee. In this role, he will focus on enhancing cross-border regulatory cooperation and investor protection. The appointment underscores the UAE's leadership in regional capital market development.

    Institutional developmentLeadership change & appointmentsCross-border cooperation
  • 2025-07-17PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines spotlights research and unconventional tools at its 5th International Research Fair in Cebu

    The Central Bank of the Philippines highlighted Governor Eli M. Remolona, Jr.'s remarks at the 5th BSP International Research Fair, emphasizing central bank research's role amid global economic fragmentation. The event addressed challenges from shifting trade dynamics, geopolitical tensions, and supply chain disruptions, urging updates to policy frameworks and analytical models. Research from various central banks and institutions was presented to over 100 attendees.

    ResearchMonetary policy decisions and developments