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2025-07-11•United States•Federal Deposit Insurance Corporation
The FDIC issued disaster-related supervisory guidance for institutions in Kerr County, Texas, affected by severe weather. The guidance includes regulatory relief measures like flexibility in reporting requirements and encourages banks to work with impacted borrowers by extending repayment terms and restructuring loans. The FDIC also highlights potential Community Reinvestment Act considerations and expedited processing for temporary banking facilities.
Policy & regulationGuidance & interpretationOther
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2025-07-11•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency have updated regulatory reporting instructions for Call Reports and FFIEC 002 under the Federal Financial Institutions Examination Council. Institutions must report loan modifications for borrowers in financial difficulty for 12 months post-modification. Pending U.S. Office of Management and Budget approval, these changes align with previous revisions and take effect on December 31, 2025, with optional early implementation.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a public warning regarding five unsupervised loan applications and filed a criminal complaint with the Public Prosecutor’s Office. The apps, including "FINANCIERA CENTA" and "SÚPER PRESTA", are available on Google Play and other websites. The CMF advises users to consult its Fraud Alerts Page to verify the supervision status of financial entities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a warning about fraudulent entities offering online loans while falsely claiming CMF supervision and demanding advance payments for non-existent loans. Complaints were filed against eight entities, including impersonators of regulated firms operating via websites and social media. The CMF advised the public to consult its Fraud Alerts Page for verification and protection guidance.
SupervisionAlertsFraud and scams
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted Pakistan's Ministry of Commerce, led by Minister Jam Kamal Khan, to discuss enhancing banking links for trade and investment. They considered updating the 2004 memorandum with the State Bank of Pakistan and Vietnam's advancements in banking digitalisation and polymer banknote production. Pakistan showed interest in Vietnam's cashless payment systems, planning further exchanges and study visits.
Policy & regulationCooperationCross-border cooperation
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam revised the structure and remit of Regional Branch 13, effective 1 July 2025, transferring transaction points between branches. Following the reorganization, Regional Branch 13 held conferences to align credit institutions with new supervisory approaches, focusing on stable deposit rates, cost reduction, digitalization, and directing credit to priority areas. Participants were briefed on implementing action plans and preparing reorganization plans per State Bank of Vietnam Circular 10/2025.
Institutional developmentMandate & organizational structureMandate change
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced inspection results by the Government Party Committee, highlighting effective implementation in five priority areas but noting areas for improvement. Governor Nguyen Thi Hong discussed challenges in restructuring the central bank's network and maintaining stability. The inspection credited flexible credit management for supporting over 7% economic growth and noted progress in digital transformation.
Institutional developmentMandate & organizational structureOther
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2025-07-11•Egypt•Central Bank of Egypt
The Central Bank of Egypt signed a memorandum with the People's Bank of China to establish a cooperation framework on central banking and financial sector priorities, including local currency settlement and CBDC collaboration. The framework includes information sharing, expertise exchange, and staff training in monetary policy, financial markets, and electronic payment systems. It also aims to support financial innovation and facilitate direct investments between Egypt and China.
Policy & regulationCooperationCross-border cooperation
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2025-07-11•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency announced the U.S. Senate's confirmation of Jonathan Gould as the new Comptroller of the Currency, succeeding Acting Comptroller Rodney E. Hood. Gould, the first Senate-confirmed Comptroller since 2020, will focus on tailoring regulatory requirements, fostering banking innovation, and ensuring fair access to financial services. Hood expressed support for a smooth leadership transition.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-11•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) reaffirmed its commitment to reforming Argentina’s capital markets regulatory framework at the Buenos Aires Stock Exchange's 171st anniversary. President Javier Milei emphasized addressing central bank and public finance issues, while BCBA President Adelmo Gabbi highlighted the importance of transparent capital markets. CNV Chair Roberto E. Silva credited coordinated efforts with the economic team for reforms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-11•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued the Measures on Product Suitability Management of Financial Institutions, effective 1 February 2026, to enhance financial consumer protection. The Measures require financial institutions to understand products and customers, assign risk ratings, and apply enhanced protections for ordinary investors. Breaches may lead to supervisory measures and penalties for institutions and individuals.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-11•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued the Product Suitability Management Measures for Financial Institutions, creating a unified framework for suitability obligations when issuing or selling investment-type and insurance products. The Measures require institutions to match products with suitable customers, grade product risk, and assess investors' risk tolerance. Implementation begins on 1 February 2026, with follow-up work to enhance industry standards and consumer risk awareness.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-11•China•China Banking and Insurance Regulatory Commission
Li Yunze, chair of the China Banking and Insurance Regulatory Commission, inspected Yunnan on 9–10 July, focusing on high-quality development, risk prevention, and financial supervision. He urged more resources for technology commercialization, industrial transformation, and support for micro and small enterprises through digital means and coordination. Li also called for stricter regulatory program implementation and improved sub-branch supervision.
SupervisionReviews, inspections & stress testsDomestic cooperation
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2025-07-11•Asia•Eurasian Group (EAG)
The Eurasian Group Secretariat held FATF standards training in Moscow for 41 experts from eight member states. The program covered updated AML/CFT/CPF standards and was designed to prepare experts and potential assessors ahead of the next round of Eurasian Group mutual evaluations. Further training is planned under the 2025-2026 work plan.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-07-11•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance mandates that applications for Timely Verification of Credits in insurer liquidations be submitted via the Remote Procedures Platform (TAD). Creditors must use a standard form as a sworn statement, and liquidation commissions must inform presiding judges of this new requirement.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-11•India•Securities & Exchange Board of India
SEBI has issued a master circular for ESG Rating Providers (ERPs), updating operational, governance, and disclosure requirements under the SEBI (Credit Rating Agencies) Regulations, 1999. The circular mandates standardized ESG rating products, restricts ERPs to a single revenue model, and sets transparency and conduct measures. It outlines governance provisions, extensive disclosure requirements, and compliance monitoring through annual audits.
Policy & regulationRules & requirementsESG
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2025-07-11•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has issued a Master Circular for Real Estate Investment Trusts (REITs), consolidating all applicable SEBI circulars into a single reference document. This comprehensive circular covers operational, transaction, and disclosure requirements, including online filings, public issuance processes, and governance compliance. It supersedes previous circulars while preserving prior actions and liabilities.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-11•India•Securities & Exchange Board of India
SEBI issued a master circular for Credit Rating Agencies (CRAs), consolidating directions under the SEBI (Credit Rating Agencies) Regulations, 1999. It standardizes registration, rating operations, disclosures, audits, and introduces an "orderly migration" framework for CRA suspension, cancellation, or surrender. It mandates standardized rating symbols, a press release template, and monthly "No Default Statements" from issuers, detailing conduct expectations and compliance measures.
Policy & regulationRules & requirementsCredit ratings
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2025-07-11•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has revoked the licence of Al Khazna Insurance Company P.S.C due to non-compliance with licensing requirements during its suspension. This action was taken under Article 33 of Federal Decree-Law No. 48 of 2023, following examinations that revealed failures to meet the Insurance Law and other regulatory standards.
SupervisionAuthorisations & approvals
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2025-07-11•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank announced the launch of a USD-denominated collective investment scheme by Unit Trust Corporation Global Balanced Fund Limited in Saint Kitts and Nevis, aimed at enhancing financial inclusion in the Eastern Caribbean Currency Union. Governor Timothy N. J. Antoine highlighted the fund's accessibility to retail investors and its alignment with the ECCB's "Big Push" wealth-creation agenda. The fund, the first mutual fund in the ECCU, is regulated by the Eastern Caribbean Securities Regulatory Commission.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-11•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank, ECCU Bankers’ Association, and ECCU Ease of Account Opening Working Group launched the ECCU First Step Savings Account to aid underserved individuals and small businesses. Offered by Licensed Financial Institutions, it features simplified due diligence, 2.0% annual interest, no fees, no minimum balance, and a deposit cap of EC$36,000 annually. A public town hall discussed the account, with future plans for a uniform simplified due diligence approach across the Currency Union.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-07-10•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission registered a new share issue by Shelly Group ED for trading on a regulated market, totaling BGN 52,501. It also approved Sofia Antonova and Milena Gencheva to the Board of Directors of Euroins Insurance Company and confirmed the completeness of Pridict Ltd.'s crowdfunding licensing application.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released interest rate data for deposits and loans at the credit institution level for May 2025, along with additional related information.
Data & statisticsFinancial and market indicators
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2025-07-10•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority (CMA) has approved amendments to facilitate investment account operations. These changes allow individual foreign investors residing in a Gulf Cooperation Council country to invest directly in Main Market shares. Former residents of Saudi Arabia or GCC countries can maintain investment accounts and invest in Main Market shares post-residency if the account was initially opened in the Kingdom.
Policy & regulationRules & requirementsMarket development
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2025-07-10•United Kingdom•Payment Systems Regulator
The Payment Systems Regulator (PSR) published its 2024/25 annual report, highlighting achievements like implementing the authorised push payment scams reimbursement requirement and expanding Confirmation of Payee requirements. The report notes the PSR's consolidation into the Financial Conduct Authority and alignment with the FCA’s 2025–30 strategy. Additionally, the PSR addressed competition and innovation issues, including digital wallets and card fees, and evolved open banking governance.
Institutional developmentGovernancePayments and payment systems
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2025-07-10•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority issued a supervisory press release noting that approved compliance officers are not adequately fulfilling their continuing education obligations. Officers must complete at least 40 hours of training every three years with FSMA-accredited providers, and regulated companies are responsible for ensuring compliance.
SupervisionAlertsSupervision process and methodologies
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2025-07-10•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada launched an interactive dashboard to monitor Canadians' financial health, revealing increased overspending, borrowing for regular expenses, and debt levels in 2024. It also shows a rise in fraud cases and payday loan usage, with data from 2019 onwards, allowing exploration by topic, quarter, year, and demographic filters. Regular updates and user feedback are sought to enhance the dashboard's Research and Data Exchange features.
Data & statisticsFinancial literacy and education
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2025-07-10•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General after a licensed company, acting as a whistleblower, submitted incorrect and misleading data. This referral pertains to an offence under Item (3) of Article (127) of Law No. 7 of 2010, as amended.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-10•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General concerning a company's non-compliance with a Disciplinary Board decision under Article 127 of Law No. 7 of 2010. The company, previously listed on Boursa Kuwait, failed to pay a fine as required by Disciplinary Board Resolution No. 78/2024 and Authority Resolution No. 89/2024, despite being notified on 16 April 2025.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-10•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) released a synthesis of its SPOT thematic reviews on asset managers' voting and shareholder engagement policies, highlighting both good and poor practices. The reviews, part of AMF's sustainable finance supervisory priorities, found practices generally satisfactory but identified areas for improvement, particularly in investor disclosures and the use of external service providers for voting. The AMF encourages more detailed reporting on ESG engagement and better documentation of deviations from voting policies.
SupervisionReviews, inspections & stress testsCorporate governance
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2025-07-10•Israel•Bank of Israel
The Bank of Israel held a meeting with Governor Prof. Amir Yaron, the Monetary Committee, and financial forecasters to discuss economic developments amid the war, with presentations including the Research Department's assessment published on 7 July 2025. The session facilitated an exchange of opinions and assessments, and the presentation used was made available as an attachment.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-07-10•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has released a list of data contributors to the equity Consolidated Tape Provider (CTP), detailing trading venues and investment firms mandated or opting to contribute data. Under the Market in Financial Instruments Regulation (MiFIR), venues opting in must begin data contribution within 30 days of ESMA's notification. ESMA will update the list as venues start or end operations or opt in.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-07-10•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority reprimanded and disqualified LI Siu Man from registration as a Mandatory Provident Fund intermediary for eight months for failing to promptly enrol a client in an MPF scheme. The misconduct breached Manulife (International) Limited’s internal policies and the conduct requirement under the Mandatory Provident Fund Schemes Ordinance. The sanction considered the seriousness of the breach, the absence of prior disciplinary records, and the need for deterrence.
EnforcementSanctions & designations
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2025-07-10•Europe•European Securities and Markets Authority
ESMA reviewed the Malta Financial Services Authority's handling of a crypto-asset service provider under the Market in Crypto-Assets Regulation, noting areas for improvement in authorisation practices. Despite adequate resources and expertise, unresolved material issues and insufficient risk assessment were identified. ESMA advises national authorities to focus on risks related to business growth, governance, and unregulated services in their authorisation processes.
SupervisionPeer reviews and country evaluations
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2025-07-10•Australia•Australian Securities & Investments Commission
The Federal Court found Mayfair 101 Group director James Mawhinney involved in legal contraventions by Mayfair 101 Group companies, identifying false or misleading representations in marketing financial products and deceptive conduct due to undisclosed investor redemption suspensions. IPO Capital operated without a licence from 2016 to 2017. ASIC seeks injunctions to prevent Mawhinney from advertising and fundraising through financial products and transferring assets abroad. Further submissions on relief are pending.
EnforcementInvestigations & enforcement actions
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2025-07-10•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission has granted a five-year authorisation, with conditions, for the Australian Sustainable Finance Institute and industry participants to collaborate on sustainable finance initiatives, including information exchange and co-design of financial products. The authorisation addresses potential competition concerns and remains interim until the final determination is effective.
SupervisionAuthorisations & approvalsClimate risk and sustainable finance
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2025-07-10•Australia•Australian Securities & Investments Commission
ASIC has granted regulatory relief for Project Acacia, a collaboration with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre. The project examines integrating digital money with existing settlement infrastructure in Australian wholesale tokenised asset markets. Twenty-four use cases have been selected, including 19 pilot cases with real transactions and five proof-of-concept cases with simulated transactions, covering asset classes like fixed income and carbon credits. Testing involves stablecoins, bank deposit tokens, and a pilot wholesale CBDC on various distributed ledger platforms. Findings are expected in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Australia•Australian Securities & Investments Commission
The Federal Court ordered ACBF Funeral Plans Pty Ltd to pay a AUD 3.5 million penalty for falsely claiming Aboriginal ownership. This follows ASIC's successful appeal, bringing total penalties to AUD 4.7 million. The penalty concerns the Aboriginal Community Funeral Plan. Separate civil proceedings against former directors are ongoing.
EnforcementInvestigations & enforcement actions
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2025-07-10•Australia•Australian Securities & Investments Commission
The Australian Securities and Investments Commission announced that the Full Federal Court dismissed an appeal by Cigno Australia Pty Ltd, BSF Solutions Pty Ltd, and their directors, affirming findings of unlicensed credit activity and prohibited fees. The court upheld that their "No Upfront Charge Loan Model" circumvented consumer protection laws, resulting in AUD 34 million in loans and over AUD 70 million in fees from July to December 2022. Directors Mark Swanepoel and Brenton Harrison were implicated, and the appellants must cover ASIC's appeal costs. The case will return to Justice Jackman for penalty determination.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-10•Botswana•Bank of Botswana
The Bank of Botswana issued a public alert regarding counterfeit BWP 200 banknotes detected in southern Botswana, urging vigilance in cash transactions. The counterfeit notes bear the serial number AA0123456. The Bank advised verifying security features on genuine notes and reporting suspected counterfeits to authorities.
SupervisionAlertsCurrency and cash management
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2025-07-10•Australia•Department of Treasury (Australia)
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have advanced Project Acacia by selecting 24 industry use cases to test digital money innovations in Australian wholesale tokenised asset markets, supported by ASIC, the Australian Prudential Regulation Authority, and the Australian Treasury. The next stage involves 19 pilot use cases with real transactions and five proof-of-concept use cases, utilizing stablecoins, bank deposit tokens, and pilot wholesale central bank digital currency (CBDC) across various distributed ledger technology platforms, with testing set for six months and findings due in 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Latvia•Central Bank of Latvia
The Central Bank of Latvia has authorized SIA Ascend Finance to provide crowdfunding services, connecting investors with businesses. SIA Ascend Finance is now listed in the national Register of Crowdfunding Service Providers and can offer services like loan portfolio management and credit scoring. This authorization complies with Regulation (EU) 2020/1503 and is recognized in the European Securities and Markets Authority’s EU Register.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-10•Latvia•Central Bank of Latvia
The Central Bank of Latvia has authorised SIA Ascend Finance to offer crowdfunding services, including loan facilitation and management, in compliance with Regulation (EU) 2020/1503. SIA Ascend Finance is now listed in both the national and European Securities and Markets Authority's EU-wide registers of Crowdfunding Service Providers.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-10•West Africa•Central Bank of West African States
The Central Bank of West African States’ Financial Stability Committee reported that the UMOA financial sector remains dynamic but faces short- to medium-term vulnerabilities. Despite improvements in capital adequacy and solvency ratios, risks persist from trade tensions, inflation, sovereign debt sustainability, and regional security challenges. The Committee urged increased vigilance, cooperation, and resilience-building measures among member states and financial regulators.
SupervisionRisk monitoring & watch points
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2025-07-10•Australia•Department of Treasury (Australia)
Australia's Treasury updated on Project Acacia, confirming 24 use cases for testing digital money in wholesale tokenised asset markets. The next stage involves 19 pilot use cases with real transactions and five proof-of-concept use cases with simulated transactions, covering various asset classes. The Australian Securities and Investments Commission is providing regulatory relief for responsible testing, with findings expected in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) is hosting the 6th Annual Conference of the African Pension Supervisors Association in Marrakech, focusing on resilience in Africa's pension landscape. The event will address governance, pension coverage expansion, emerging risks, and ESG integration, with sessions on risk-based supervision, climate change, cybersecurity, demographic risks, and micro-pension models.
SupervisionCooperationClimate risk and sustainable finance
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2025-07-10•Georgia•National Bank of Georgia
The National Bank of Georgia is assessing BasisBank's potential acquisition of a 95.99% stake in Liberty Bank for compatibility with the competitive environment. The review focuses on the potential concentration in the banking sector.
SupervisionReviews, inspections & stress testsMergers and acquisitions
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2025-07-10•United States•National Credit Union Administration
The National Credit Union Administration is voluntarily reviewing its regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to identify outdated or burdensome rules for federally insured credit unions. The review covers 10 regulatory categories, with public input sought through four Federal Register notices, each with a 90-day comment period. The first notice, published in May 2024, addressed applications, reporting, and powers and activities.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-10•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance, chaired by Prime Minister Evika Siliņa, discussed enhancing lending to non-financial companies and considered a draft framework to limit commission fees for early loan repayment or refinancing. The decision is paused pending a three-month market review. Additionally, a draft communication plan was reviewed to inform the public and international partners about Latvia's anti-money laundering and counter-terrorist financing assessment results.
Policy & regulationRules & requirementsMarket development
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2025-07-10•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator's President, Margarida Corrêa de Aguiar, emphasized insurance as a tool for financial stability at the NOVA School of Law’s conference on EU insurance law. She urged stakeholders to address the link between financial vulnerability and insurance access, advocating affordable solutions. The ASF highlighted its role in developing a seismic risk coverage system, crucial for Portugal's societal and economic resilience.
Policy & regulationOtherFinancial inclusion
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2025-07-10•Portugal•Bank of Portugal
The Bank of Portugal released updated financial national accounts for Q1 2025, showing the Portuguese economy as a net lender to the world at 2.6% of GDP. Households held the largest net lending position at 4.4% of GDP, while non-financial corporations were net borrowers at 4.1% of GDP. The financial sector's strongest inter-sector link was with the rest of the world, financing it by 4.5% of GDP through foreign debt securities purchases.
Data & statisticsEconomic data and developmentsFinancial and market indicators
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2025-07-10•Peru•Central Bank of Peru
Not applicable
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-07-10•Laos•Bank of the Lao
The Bank of the Lao hosted a courtesy visit from a Bank of China (Hong Kong) Limited delegation to discuss ongoing cooperation and congratulate Governor Bounkham Vorachit on his appointment. Discussions included the branch's business operations in Lao PDR, contributions to socio-economic development, and support for the domestic banking sector. Both parties emphasized continued collaboration on Basel II standards and future risk management.
Institutional developmentCooperation & capacity buildingOther
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2025-07-10•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) plans to review its client categorisation regime to enhance opportunities for wealthy and experienced investors, supporting capital markets and economic growth. This review is part of broader FCA growth reforms, with 10 initiatives completed since January and around 50 expected by year-end. Key initiatives include improving mortgage access, launching the PISCES private stock market, and extending pre-application support to various firms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-10•New Zealand•Ministry of Business, Innovation and Employment (New Zealand)
New Zealand's Ministry of Business, Innovation and Employment has launched the New Zealand Anti-Scam Alliance to enhance prevention and response to online financial scams. The initiative aims to improve coordination among government agencies, banks, telecommunications providers, digital platforms, and consumer groups. With over 60% of New Zealanders encountering scams monthly and an economic impact of nearly NZD 200 million annually, the programme will develop a national anti-scam strategy, update industry codes, raise public awareness, and provide tools for scam prevention and response.
Policy & regulationCooperationFraud and scams
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2025-07-10•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced that Mr. Lin Tai Fung and Mr. Or Chun Nin were sentenced to community service for market manipulation. They pleaded guilty to conspiracy to commit false trading in Pa Shun International Holdings Limited shares, and Lin also admitted to failing to notify changes in his share interest. The court considered imprisonment but chose community service due to mitigating factors and guilty pleas.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-07-10•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS released a draft rule to standardize insurers' identification of building typologies for natural disaster coverage. The proposal includes a manual by CISMID for classifying buildings, detailing structural typologies, sensitivity parameters, and reinsurance applications. The draft aims to enhance catastrophe exposure data quality for loss estimation and risk reserve calculations.
Policy & regulationRules & requirementsNature-related risk
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2025-07-10•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) emphasized the strategic importance of a digital euro as a secure, simple, and free legal digital payment means across the euro area. Governor Robert Holzmann highlighted geopolitical factors necessitating a digital euro to enhance euro area sovereignty and resilience, while the Eurosystem continues technical preparations. The OeNB stressed that the decision to proceed with a digital euro is political, urging swift agreement and noting ongoing stakeholder engagement.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-07-10•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation released educational material on using the International Sustainability Standards Board's industry-based guidance with the IFRS Sustainability Disclosure Standards. This material clarifies disclosure topics and metrics relevant to specific industries and serves as implementation support without altering existing ISSB Standards or proposed enhancements to SASB Standards.
Policy & regulationGuidance & interpretationAccounting and financial reportingDisclosures
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2025-07-10•France•Bank of France
The Bank of France reported a shift to a EUR 2.7 billion current account surplus in 2024, driven by a reduced goods trade deficit and a larger services surplus. The goods deficit narrowed due to a lower energy bill and recovering industrial goods exports, while the services surplus improved in business services and insurance. France's net international investment position remains vulnerable due to substantial net portfolio debt, particularly in public securities.
Data & statisticsBalance of payments and other external statistics
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2025-07-10•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia is soliciting proposals for events and anniversaries to feature on its annual occasional coins, beginning with the 2027 programme. Proposals must comply with the Occasional Coins Act and include a rationale for the event's significance.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-10•Australia•Reserve Bank of Australia
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have selected 24 industry use cases for Project Acacia to explore digital money's role in Australian wholesale tokenised asset markets, with regulatory relief from the Australian Securities and Investments Commission. The initiative includes 19 pilots with real transactions and five proof-of-concept tests, involving various asset classes and settlement assets, with testing over six months and a report due in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has rejected Gulmira Zhumadil's appointment as head of a governing body in the securities market.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-10•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has issued a guidance note to enhance awareness of climate change and nature loss risks within the regulated sector, clarifying expectations for firms' risk management frameworks. The guidance applies to entities under the Financial Services Act 2008, the Insurance Act 2008, and the Collective Investment Scheme Act 2008, emphasizing proportionality and materiality without introducing new requirements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-10•Global•Bank for International Settlements
The Bank for International Settlements released a working paper on El Niño Costero's impact on Peru's inflation, economic activity, and monetary policy. It finds El Niño shocks cause persistent supply-side disturbances, raising inflation and contracting GDP, with limited stabilization from a hawkish policy stance during large, recurrent shocks. The paper highlights short-term inflation driven by food and energy prices, notable GDP declines in primary sectors, and challenges in stabilizing inflation expectations.
ResearchClimate risk and sustainable finance
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2025-07-10•Global•Bank for International Settlements
The Basel Committee on Banking Supervision released a report on interconnections between banks and non-bank financial intermediaries (NBFIs), highlighting potential risks. It details banks' provision of leverage and services to NBFIs, and NBFIs' exposures to banks, using case studies to illustrate impacts on financial stability. The Committee will continue monitoring these interconnections, focusing on synthetic risk transfers.
ResearchFinancial stability and systemic riskPrudential risks
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2025-07-10•Global•Bank for International Settlements
The Bank for International Settlements released a BIS Bulletin evaluating the potential of tokenising government bonds, noting tighter bid-ask spreads compared to conventional bonds but similar issuance costs. The analysis, based on 39 tokenised bonds, highlights two issuance models and discusses collateralised issuance variants. Broader adoption depends on resolving regulatory and infrastructure challenges, with further experimentation needed to assess benefits and risks.
ResearchTokenization
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2025-07-10•Spain•Bank of Spain
Bank of Spain Governor José Luis Escrivá stressed the need for a stronger, integrated European financial system to boost competitiveness and support SMEs. He outlined three pillars: the euro and payments, a robust banking system, and deep capital markets. Key points include the digital euro's role in payments, completing the banking union with a European deposit insurance scheme, and advancing the capital markets union to reduce reliance on bank intermediation.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-07-10•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) scored 2.91 out of 3 in the Comptroller General's Public Integrity Self-Assessment, achieving 95% of its target and fully meeting Level 1 Public Integrity Maturity. PREVIC scored 100% in Integrity Management and Performance, and 93% in Governance and Organisational Structure for Integrity and Organisational Capacity for Integrity. The assessment highlights PREVIC's Integrity Programme, established in 2018, focusing on ethics and integrity-risk management.
SupervisionReviews, inspections & stress testsCorporate governance
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2025-07-10•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 7.1% year-on-year increase in net foreign direct investment (FDI) inflows to USD 610 million in April 2025, driven by a 24.3% rise in nonresident debt instrument investments. However, net investments in equity capital excluding reinvested earnings plummeted by 94.1% to USD 4 million. Cumulatively, net FDI inflows from January to April 2025 fell by 33.4% to USD 2.4 billion, with the central bank highlighting differences in reporting standards compared to other sources.
Data & statisticsBalance of payments and other external statistics
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2025-07-10•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) supports the formation of the New Zealand Anti-Scam Alliance to combat scams, aligning with its regulatory priorities. Over the past year, the FMA issued 110 new warnings, updated existing ones, identified numerous suspicious websites, and took action against them, disseminating warnings through various channels including the International Securities & Commodities Alerts Network (I-SCAN).
SupervisionCooperationFraud and scams
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2025-07-10•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an accompanying notice to pay a statutory fee of VND 1,000,000 for the issuance of a securities practicing certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person, with specific identification details required. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-07-10•Serbia•National Bank of Serbia
The National Bank of Serbia clarified that Serbia's external debt includes only liabilities to the rest of the world, not domestic debts. As of March 2025, external debt was EUR 49.0 billion, or 58.6% of GDP, with public sector debt at EUR 26.4 billion and private sector debt at EUR 19.1 billion. The bank highlighted that debt to the International Monetary Fund (IMF) was EUR 2.4 billion, with significant portions in Eurobonds and borrowing from international financial institutions.
Policy & regulationGuidance & interpretationBalance of payments and other external statistics
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2025-07-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SEP 3/2025 detailing enhancements to the Empresas.Net system for issuer filings. Updates include changes to the Reference Form and Traded and Held Securities Form, as well as new support materials for document submissions. These enhancements aim to improve the submission process for publicly held companies and registered foreign issuers.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has approved an addendum to its 2022 cooperation agreement with BSM Supervisão de Mercados, enhancing coordination of supervisory activities for public offerings on the B3 exchange. Key changes include biweekly meetings, expanded datasets for CVM, and a new mechanism for data requests to improve supervisory information exchange.
SupervisionCooperationCross-border cooperation
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2025-07-10•Oman•Oman Financial Services Authority
The International Association of Insurance Supervisors (IAIS) completed a Member Assessment Program on Oman, finding its insurance regulatory framework largely compliant with Insurance Core Principles. Oman is the fifth jurisdiction assessed, following Guernsey, Morocco, Mexico, and Albania. The Oman Financial Services Authority welcomed the findings and emphasized its commitment to global supervisory standards.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2025-07-10•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission issued the first licences for takaful window operations to Pru Life U.K. and Etiqa, marking a significant step in the domestic rollout of Shari’ah-compliant insurance. This initiative aligns with the National Strategy for Financial Inclusion 2022–2028 and aims to bolster the Philippines’ Islamic finance ecosystem.
SupervisionAuthorisations & approvalsFinancial inclusion
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2025-07-10•Solomon Islands•Central Bank of the Solomon Islands
The Central Bank of the Solomon Islands announced regulatory actions in response to new fees by the Bank of South Pacific Financial Group Limited, Solomon Islands Branch, citing customer grievances and invoking the CBSI Act 2012 and Financial Institution Act 1998. It emphasized the requirement for effective complaints handling by banks and advised customers to escalate unresolved issues to the Central Bank.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-07-10•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) has charged Usman Asif with fraud and breaching a cease trade order related to his role at Lendle Corporation. Asif allegedly issued a promissory note to All Ships Investors Incorporated while under a cease trade order, using the CAD 315,000 investment for personal expenses. The OSC Tribunal found Asif and his companies guilty of fraud, leading to a permanent trading ban in June 2024.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-10•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC announced that the Department of Justice has indicted Maria Francesca Tan Group of Companies, Inc., Foundry Ventures I, Inc., and their officers for unauthorized investment solicitation. Charges include violations of the Securities Regulation Code related to unregistered securities, fraud, and failure to register as brokers or dealers. The SEC's complaint, initiated in April 2024, highlighted an alleged Ponzi scheme and implicated Isla Lipana & Co. (PwC Philippines) and its auditors for purportedly validating false financial statements.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-10•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission approved Filinvest Development Corporation's registration for a preferred share offering of up to PHP 8 billion, pending compliance with remaining requirements. The offering includes up to eight million perpetual, cumulative, non-voting, non-participating, non-convertible, redeemable, and re-issuable shares priced at PHP 1,000 each. Proceeds are earmarked for refinancing, capital expenditures, and general corporate purposes, with BPI Capital Corporation as sole issue manager among joint lead underwriters.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-10•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) proposed to the EFRAG Sustainability Reporting Board to consolidate the European Sustainability Reporting Standards ESRS E2 to E5 into a single integrated nature standard. This revised 'E2' would address four drivers of nature change and span all realms of nature, while promoting the TNFD LEAP framework and reducing quantitative datapoints. TNFD highlighted growing market adoption of its disclosures, with 600 organizations managing over EUR 13 trillion in assets.
Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
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2025-07-10•Kosovo•Central Bank of the Republic of Kosovo
Deputy Governor Dardan Fusha participated in the World Bank Global Payments Week 2025, discussing Kosovo's efforts to modernize payment systems and enhance cross-border payments. Initiatives include the EU-backed Payment Systems Modernisation Project and SECO-funded Remittances Programme, aligning with SEPA for potential savings of over EUR 55 million. Challenges like high cross-border fees and EU payments infrastructure access were also addressed, alongside themes like instant payments interoperability and AI for security.
Policy & regulationImplementation, projects & pilotsCross-border paymentsMarket development
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2025-07-10•United States•U.S. Senate Committee on Finance
The U.S. Senate Committee on Finance announced the confirmation of Jonathan Gould as Comptroller of the Currency, approved by a 50-45 vote. Chairman Mike Crapo highlighted Gould's prior experience and anticipates his leadership in enhancing banking safety, soundness, and fair access to financial services.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-10•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee announced that the U.S. House will review three digital-asset bills during "Crypto Week": the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. The CLARITY Act focuses on consumer protection for digital asset market participants. The Anti-CBDC Surveillance State Act aims to prevent federal issuance of a central bank digital currency, while the GENIUS Act proposes a regulatory framework for payment stablecoins, which currently lack federal oversight.
Policy & regulationRules & requirementsCBDCStablecoins
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2025-07-10•Russia•Central Bank of Russia
The Central Bank of Russia's latest Monitoring of Sectoral Financial Flows review indicates a 0.1% increase in incoming payments processed in June, following a decline in May. Excluding mining, quarrying, petroleum refining, and general government, receipts fell by 0.6%, with declines noted in consumer, investment, and external demand sectors.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-10•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission warned investors that Marketsca, PandoraProfit, and TW Pro are not registered to deal or advise in securities in the province. The Commission highlighted misleading claims about regulatory status and advised using the National Registration Search tool for verification.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-10•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that Marketsca is not registered to deal in or advise on securities in New Brunswick. The firm claims an office in North York, Ontario, operated by Finalto (BVI) Ltd, and also uses the name MarketsHelp. Investors are advised to verify registration through the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-10•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission warns that PandoraProfit, claiming a Toronto base, isn't registered to deal or advise in securities in New Brunswick. The alert notes misleading claims on PandoraProfit's website about regulation by the Financial Services Authority Saint Vincent and the Grenadines. Investors should use the National Registration Search tool to verify registration status.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-10•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued an investor alert regarding TW Pro, which is not registered to deal or advise in securities in New Brunswick. The warning includes TW Pro's alternate names, TW-pro and Pro-TW, and mentions a London, UK location.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-10•Russia•Central Bank of Russia
The Central Bank of Russia has proposed measures to enhance issuers' disclosures by reducing duplicative reporting, standardizing annual reports, and transitioning to electronic formats. Key changes include synchronizing the publication of financial statements and explanatory reports. These proposals are open for public discussion.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-10•Russia•Central Bank of Russia
The Central Bank of Russia released its 2024 ranking of insurers based on confirmed consumer-rights violations in compulsory motor third-party liability insurance (CMTPLI) complaints. The ranking categorizes insurers into those with more than two million CMTPLI contracts and those with fewer, using a consumer risk indicator to order firms by complaints per 10,000 contracts. Insurers with only one complaint are excluded from the ranking.
SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
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2025-07-10•United Kingdom•HM Treasury
UK HM Treasury recommends the FCA integrate international competitiveness and growth into policymaking under the Financial Services and Markets Act 2000. The FCA's five-year strategy prioritizes regulatory streamlining, flexible disclosure rules, and initiatives for informed risk-taking. Plans include an Open Finance roadmap, workplace pensions consultations, and climate disclosure rule updates.
Policy & regulationReform agendas & prioritiesOther
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2025-07-10•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, in a meeting with Prime Minister Mostafa Madbouly, announced initiatives for the non-banking financial sector, including a fintech forum in July to discuss legislation for digital transformation and funding support. The Authority highlighted its digital transformation efforts, success stories of licensed firms, and participation from venture capital firms. It is also nearing the application of Basel III standards to non-banking finance companies to enhance capital adequacy and solvency.
Policy & regulationReform agendas & prioritiesFintech and insurtechMarket development
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2025-07-10•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve, and Office of the Comptroller of the Currency proposed revisions to the FFIEC 031 Call Report to align with regulatory capital amendments. Key changes include new line items for leverage buffer standards for subsidiaries of U.S. global systemically important bank holding companies and revised instructions for reporting eligible retained income and discretionary bonus payments. The FFIEC 041 and FFIEC 051 Call Reports will be extended without changes.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-10•Chile•Central Bank of Chile
Starting 10 July 2025, the Central Bank of Chile will publish the Sales by Stratum Indicator (IVE) monthly, providing experimental statistics on nominal sales in manufacturing, commerce, and business services by firm size and economic activity. The IVE will classify firms into micro, small, medium-sized, and large enterprises, aiding sectoral analysis. Data will be available in the "Experimental Statistics" section of the Statistical Database and on the Central Bank’s website, with potential for significant revisions as the series develops.
Data & statisticsEconomic data and developmentsFinancial and market indicators
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2025-07-10•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) have finalized amendments to increase system fees for SEDAR+ and the National Registration Database (NRD) over five years starting 28 November 2025, ensuring sufficient funding for national systems. The amendments maintain a flat per-filing fee model, with fees rising proportionally based on system use, and introduce WKSI-related fees aligned with a new expedited shelf prospectus regime. Implementation is contingent on obtaining necessary approvals.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-10•United States•Federal Reserve Board
Federal Reserve Board Governor Christopher J. Waller explained the Fed's balance sheet is larger than in 2007 due to quantitative easing and an ample-reserves regime. The balance sheet is about USD 6.7 trillion, down from nearly USD 9 trillion in early 2022. Waller stressed reserves should exceed 9 percent of GDP for market stability and emphasized shifting the portfolio toward shorter-duration assets like Treasury bills while maintaining passive runoff of maturing securities.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-07-10•United States•Federal Reserve Board
The Federal Reserve Board seeks comments on revising its supervisory rating framework for large bank holding companies to clarify "well managed" criteria. A firm would be well managed with no more than one deficient-1 rating across capital, liquidity, and governance. Similar changes are proposed for insurers, with further revisions under consideration.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-10•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) released a Phase 1 white paper and proposed rule amendments to streamline account transfers, addressing delays and operational friction. The proposals mandate automated systems for eligible transfers, electronic communications, and a 10-day settlement period. CIRO seeks feedback on these amendments and proposals for a technology solution to digitize transfers, with a Phase 2 white paper expected in 2026.
Policy & regulationRules & requirementsAccounting and financial reporting