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  • 2025-07-10VietnamState Bank of Vietnam

    State Bank of Vietnam hosts SWIFT delegation to review cross-border payments security and ISO 20022 transition preparations

    The State Bank of Vietnam (SBV) engaged with SWIFT to discuss priorities like international payment messaging security, foreign exchange reserve operations, and ISO 20022 adoption. SBV highlighted its role in the Vietnam SWIFT community and adherence to the SWIFT Customer Security Programme. It reported successful ISO 20022 testing with several international counterparts and outlined a plan for an MT-MX conversion tool in line with SWIFT's migration roadmap.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-10United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission charges First Liberty Building & Loan and its owner in alleged USD 140 million Ponzi scheme and secures consent to asset freeze

    The U.S. Securities and Exchange Commission (SEC) charged First Liberty Building & Loan, LLC and its founder, Edwin Brant Frost IV, with operating a Ponzi scheme defrauding 300 investors of at least USD 140 million. The SEC alleges misuse of funds, including personal expenses by Frost, and seeks emergency relief, asset freeze, and various legal remedies. The defendants consented to the SEC's requests without admitting or denying the allegations, with monetary remedies pending court decision.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-07-10EgyptCentral Bank of Egypt

    Central Bank of Egypt hosts People’s Bank of China governor and oversees MoUs to expand yuan settlement and UnionPay payments

    The Central Bank of Egypt and the People’s Bank of China discussed enhancing central bank cooperation, focusing on local currency swap agreements, payment system connectivity, and bilateral investment flows. The meeting concluded with the signing of three cooperation agreements, including MoUs to promote the use of the Chinese yuan in the China-Egypt Suez Economic and Trade Cooperation Zone and to expand UnionPay card acceptance in Egypt.

    Policy & regulationCooperationCross-border cooperationPayments and payment systems
  • 2025-07-10ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission simplifies subscription capital increases for public issuers and narrows unanimity requirement for pre-emptive right waivers

    The Argentina Securities Commission (CNV) approved General Resolution No. 1075, simplifying share capital increase conditions for issuers already in the public offering regime. The unanimity requirement for waiving pre-emptive rights now applies only to non-admitted issuers. This aligns with General Resolution No. 1072, enhancing the dynamic of company financing through capital markets.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-07-10ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission outlines fintech and crypto regulatory approach and cites 86 new resolutions since the start of the current administration

    CNV president Roberto E. Silva highlighted efforts to address regulatory challenges in fintech, crypto, and traditional markets, advocating for frameworks balancing innovation and compliance. Silva noted 86 general resolutions issued under the current administration, about 10% of all CNV rules, and emphasized collaboration with the Central Bank and Ministry of Economy to modernize Argentina's capital markets.

    Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptech
  • 2025-07-10BangladeshBangladesh Securities & Exchange Commission

    Bangladesh Securities and Exchange Commission bars former CAPM Advisory CEO Tania Sharmin from capital market activities for five years

    The Bangladesh Securities and Exchange Commission has barred Ms. Tania Sharmin, former Managing Director and CEO of CAPM Advisory Limited, from engaging in any capital market activities for five years. This enforcement action follows severe violations related to the initial public offering of Ring Shine Textile Limited. The Commission has also instructed market entities not to appoint her during this period.

    EnforcementInvestigations & enforcement actions
  • 2025-07-10BangladeshBangladesh Securities & Exchange Commission

    Bangladesh Securities and Exchange Commission bars former AFC Capital CEO Mahbub H. Mazumdar from capital market activities for five years

    The Bangladesh Securities and Exchange Commission has barred Mr. Mahbub H. Mazumdar, former CEO of AFC Capital Limited, from engaging in any capital market activities for five years. This enforcement action follows severe violations related to the IPO of Ring Shine Textile Limited, deemed likely to harm Bangladesh's capital market. The order prohibits his appointment by market intermediaries and listed companies during this period.

    EnforcementSanctions & designations
  • 2025-07-10MoldovaNational Bank of Moldova

    National Bank of Moldova publishes 2024 financial market infrastructure report covering SEPA accession and MIA instant payments growth

    The National Bank of Moldova's 2024 report details licensing, regulatory, and supervisory activities for payment service providers and electronic money issuers. It outlines Moldova's accession to the Single Euro Payments Area (SEPA) and the rollout of the MIA instant payments solution, highlighting the finalization of nine secondary legal acts, including rules on strong customer authentication and secure communication standards.

    Policy & regulationImplementation, projects & pilotsRegulatory reporting
  • 2025-07-10TaiwanTaiwan Financial Services Commission

    Taiwan Financial Services Commission reports May 2025 payment market statistics with 59.8 million effective credit cards and 32.63 million e-payment users

    The Taiwan Financial Services Commission's May 2025 statistics showed modest increases in credit card counts and electronic payment users. Credit card revolving credit was TWD 113.4 billion with a 0.3% delinquency ratio, while cash card loans were TWD 10.1 billion with a 1.146% delinquency ratio. Electronic payment accounts had 32.63 million users, with TWD 21.23 billion in agent collection/payment flows and TWD 30.12 billion in monthly stored value funds.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-10TaiwanTaiwan Financial Services Commission

    Taiwan Financial Services Commission reports May 2025 domestic bank NPL ratio unchanged at 0.16% and coverage ratio rising to 861.42%

    The Taiwan Financial Services Commission reported that the average non-performing loan (NPL) ratio for 38 domestic banks remained stable at 0.16% in May 2025, slightly lower than the previous year. Total outstanding loans decreased by TWD 329 billion to TWD 42.94 trillion, while NPL balances fell by TWD 1.76 billion to TWD 66.83 billion. The FSC deemed asset quality manageable and will require banks to enhance asset quality and financial structure.

    Data & statisticsAsset quality
  • 2025-07-10EuropeEuropean Insurance and Occupational Pensions Authority

    European Insurance and Occupational Pensions Authority launches consultation on Solvency II reporting and disclosure changes to cut requirements by at least 26%

    The European Insurance and Occupational Pensions Authority has launched a consultation proposing amendments to Solvency II reporting requirements to reduce the burden for (re)insurance undertakings. Key measures include lowering the frequency of certain templates, deleting some annual templates, and expanding proportionality, with an estimated reporting reduction of at least 26% for solo undertakings and 36% for small and non-complex undertakings. The package also addresses technical simplifications and error corrections.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-07-10EuropeEuropean Insurance and Occupational Pensions Authority

    European Insurance and Occupational Pensions Authority issues opinion setting supervisory expectations for IORP liquidity risk management

    The European Insurance and Occupational Pensions Authority (EIOPA) issued an Opinion for national authorities on liquidity risk management at Institutions for Occupational Retirement Provision (IORPs). It emphasizes monitoring liquidity risk exposures, stress testing cash flows, and maintaining liquid asset buffers, focusing on margin and collateral calls on derivatives. Supervisors should apply these expectations in a risk-based and proportionate manner across Member States.

    Policy & regulationGuidance & interpretationLiquidity risk
  • 2025-07-10United Arab EmiratesCentral Bank of the UAE

    Central Bank of the UAE fines a bank 3 million for failing to comply with AML/CFT instructions

    The Central Bank of the UAE imposed a financial sanction of 3,000,000 AED on a bank for non-compliance with anti-money laundering and counter-terrorism financing regulations. The penalty was issued under Article 14 of Federal Decree Law No. (20) of 2018 and Article 137 of Decretal Federal Law No. (14) of 2018.

    EnforcementSanctions & designationsAML and CFT
  • 2025-07-09Central African RepublicSecurities and Exchange Commission of Central Africa

    Securities and Exchange Commission of Central Africa opens consultation on draft instructions for issuer disclosure and real estate collective investment valuation reporting

    The Securities and Exchange Commission of Central Africa (COSUMAF) has initiated a public consultation on draft instructions to clarify provisions of the Central African financial market framework and COSUMAF General Regulation. The drafts address the content requirements for annual reports by valuation experts for real estate collective investment undertakings and disclosure obligations for issuers making public offerings.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-07-09AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission briefs market on draft non-bank financial institution governance code and issuer disclosure rules

    The Angola Capital Markets Commission presented two draft regulations for consultation: a corporate governance code for non-bank financial institutions and securities issuers’ information disclosure duties. The virtual session explained the proposals and invited market feedback.

    Policy & regulationRules & requirementsCorporate governanceDisclosures
  • 2025-07-09EuropeCommittee on Economic and Monetary Affairs

    European Parliament's Committee on Economic and Monetary Affairs schedules hearing and vote on Wolf Klinz’s renewal as EFRAG Financial Reporting Board Chair

    The European Parliament's Committee on Economic and Monetary Affairs will hold a public hearing with Dr. Wolf Klinz regarding his proposed renewal as Chair of the Financial Reporting Board of the European Financial Reporting Advisory Group. The hearing is scheduled for 14 July, followed by a committee vote on 15 July.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-09EuropeCommittee on Economic and Monetary Affairs

    European Parliament's Committee on Economic and Monetary Affairs to hold 15 July 2025 hearing with Single Resolution Board Chair Dominique Laboureix on SRM resolution tasks and CMDI package

    The European Parliament's Committee on Economic and Monetary Affairs will hold a public hearing on 15 July 2025 with Single Resolution Board Chair Dominique Laboureix. The session will address the Board’s execution of its mandate under the Single Resolution Mechanism Regulation and the new legislative package on crisis management and deposit insurance.

    Policy & regulationCooperationRecovery and resolution
  • 2025-07-09Dominican RepublicCentral Bank of the Dominican Republic

    Central Bank of the Dominican Republic completes ISO/IEC 27001:2022 information security recertification and expands scope to RTGS system administration

    The Central Bank of the Dominican Republic has completed its recertification under ISO/IEC 27001:2022 for information security management, now including its Real-Time Gross Settlement system. The recertification, validated by Der Norske Veritas, aims to enhance stakeholder confidence in information security and privacy. The bank has maintained ISO/IEC 27001 certification since 2012 for its investment certificates process.

    Institutional developmentTechnology & data transformationCyber resilience
  • 2025-07-09Hong KongHong Kong Mandatory Provident Fund Schemes Authority

    Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority and Hong Kong Mandatory Provident Fund Schemes Authority launch Anti-Scam Consumer Protection Charter 3.0

    The Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority, and Mandatory Provident Fund Schemes Authority launched the Anti-Scam Consumer Protection Charter 3.0 to combat financial frauds in Hong Kong. Supported by local organizations, Charter 3.0 outlines six principles for fraud reporting, advertiser checks, internal monitoring, and public education. The initiative emphasizes coordinated action among regulators, industry, and enforcement bodies to protect Mandatory Provident Fund interests.

    Policy & regulationCooperationFraud and scams
  • 2025-07-09Hong KongHong Kong Insurance Authority

    Hong Kong Monetary Authority, Hong Kong's Securities and Futures Commission, Hong Kong's Insurance Authority and Hong Kong's Mandatory Provident Fund Schemes Authority launch Anti-Scam Consumer Protection Charter 3.0

    The Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority, and Mandatory Provident Fund Schemes Authority launched the Anti-Scam Consumer Protection Charter 3.0 to combat financial frauds with technology and telecom firms. Charter 3.0 introduces six principles, including reporting suspected frauds, checking advertisers, and enhancing public education. The initiative is supported by the Consumer Council, Hong Kong Association of Banks, Hong Kong Police Force, and Office of the Communications Authority.

    Financial literacy & educationFraud and scamsConsumer and investor protection
  • 2025-07-09CyprusCentral Bank of Cyprus

    Central Bank of Cyprus hosts Cyprus Financial Literacy Committee board meeting to review OECD-linked survey, adult training programme and national website work

    The Central Bank of Cyprus hosted the fifth meeting of the Cyprus Financial Literacy Committee's Board to review the National Strategy for Financial Literacy and Education. Updates included progress from thematic working groups, actions by the Chambers of Commerce, and collaboration with the Organisation for Economic Co-operation and Development on financial literacy initiatives. Budget discussions covered KEHAP’s 2025 budget and the commission’s budget for the next year.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-09Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority approves amendments to investment fund and REIT rules expanding distribution channels and tightening retail and debt investment safeguards

    The Saudi Arabia Capital Markets Authority (CMA) has approved amendments to the Investment Funds Regulations, Real Estate Investment Funds Regulations, and CMA Glossary. Key changes include expanded distribution channels, revised fund termination and manager dismissal provisions, and new investment allowances for Real Estate Investment Traded Funds on the Parallel Market. The amendments also introduce caps on fixed income exposures and retail cash subscriptions, following three public consultation rounds.

    Policy & regulationRules & requirementsMarket development
  • 2025-07-09BelgiumBelgium Financial Services and Markets Authority

    Belgium Financial Services and Markets Authority closes first DORA information register collection on third-party service providers

    Belgium's Financial Services and Markets Authority (FSMA) concluded the initial collection of information registers on third-party service providers under the DORA Regulation, with nearly all supervised financial entities completing the process.

    SupervisionRegulatory reportingOutsourcing and third-party risk management
  • 2025-07-09EuropeEuropean Banking Authority

    European Banking Authority launches consultation to shorten approval timelines for reducing own funds and eligible liabilities instruments to three months

    The European Banking Authority has initiated a public consultation to amend the EU Delegated Regulation on regulatory technical standards for own funds and eligible liabilities instruments. The proposal aims to reduce the application processing timeframe from four months to three months and eliminate the simplified procedure for MREL eligible liabilities for liquidation entities. These changes are based on recent experiences to enhance flexibility in capital planning.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-07-09ItalyItalian Securities Commission (Consob)

    Italian Securities Commission publishes 2024 statistical bulletin on Italian listed companies’ profitability and leverage

    The Italian Securities Commission (Consob) released its 2024 Statistical Bulletin, noting solid profitability for EXM-listed companies and a slowdown for small-cap firms on the EGM market. The report describes 2024 as a year of adjustment amid normalizing interest rates and geopolitical uncertainty, with improved profitability driven by operating efficiency and resilient margins. Financial leverage decreased across sectors except insurance, and dividend policies were balanced, reflecting varying priorities in balance-sheet strengthening and shareholder remuneration.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-09ChileMinistry of Finance (Chile)

    Chile's Ministry of Finance reports 67% public sector and 51% financial sector progress under the Green Agreement at regional sustainable finance meeting

    Chile's Ministry of Finance, UNEP FI, BancoEstado, and CAF launched the forum “Connecting the Southern Cone through Sustainable Finance” to showcase Chile’s progress in sustainable finance. The First Progress Report of the 2024 Green Agreement showed 67% progress for financial authorities and 51% for financial institutions, with challenges for insurers and stock exchanges. The forum highlighted structural gaps and the need for standardized information and international frameworks to improve coordination.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-07-09KuwaitKuwait Capital Markets Authority

    Kuwait Capital Markets Authority launches Qualified Broker model and grants first license for Central Broker CCP clearing service

    The Kuwait Capital Markets Authority (CMA) has launched the "Qualified Broker" model, issuing the first license for a clearing agency to offer Central Clearing Counterparty (CCP) services via a new "Central Broker" activity. Preliminary approvals were granted to nine brokerage firms for "Qualified Broker" activities. This is part of the Capital Market System Development Program, aimed at improving settlement, collateral management, and reducing counterparty risk.

    SupervisionAuthorisations & approvalsLicensing framework and process
  • 2025-07-09AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on five-year remake of electronic disclosure instruments and updates to RG 221

    The Australian Securities & Investments Commission (ASIC) is consulting on extending relief for digital financial services disclosures by remaking two electronic disclosure instruments expiring on 1 October 2025 and updating Regulatory Guide 221. The extensions allow digital disclosures and ease requirements, with RG 221 updates including simplified drafting and revised digital disclosure guidance.

    Policy & regulationRules & requirementsDisclosures
  • 2025-07-09AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on consolidated updates to Product Disclosure Statements guidance in Regulatory Guide 168

    The Australian Securities & Investments Commission (ASIC) seeks industry feedback on proposed updates to Regulatory Guide 168, consolidating guidance on Product Disclosure Statements (PDSs) and related obligations. The revisions integrate PDS disclosure, lodgement, and notification guidance into RG 168, removing guidance on Financial Services Guides and Statements of Advice. The guide reframes misleading conduct material to address general PDS disclosure concerns and clarifies the legislative basis for Good Disclosure Principles, ensuring compliance with the Corporations Act 2001.

    Policy & regulationGuidance & interpretationDisclosures
  • 2025-07-09AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission bans former MWL adviser Isaac McQueen for four years over Shield Master Fund advice

    The Australian Securities & Investments Commission (ASIC) has banned former financial adviser Isaac Jacob McQueen from providing financial services for four years due to inappropriate advice involving high-risk investments in the Shield Master Fund. This action is part of ASIC's broader investigation into the Shield Master Fund, with over AUD 480 million invested by at least 5,800 consumers since February 2022. The ban is effective from 17 June 2025 and is recorded on ASIC’s Banned and Disqualified Register, with Mr. McQueen having the right to appeal.

    EnforcementSanctions & designations
  • 2025-07-09AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission bans MWL adviser Matthew Bradley for eight years over Shield Master Fund advice

    ASIC has banned Sydney financial adviser Matthew Simon Bradley for eight years for giving inappropriate advice, recommending high-risk investments in the Shield Master Fund, and making misleading claims about its performance. Effective 3 July 2025, the ban is on ASIC’s Banned and Disqualified Register. ASIC's investigation into Shield and related entities continues, with over AUD 480 million invested by 5,800 consumers. Bradley may appeal.

    EnforcementSanctions & designations
  • 2025-07-09AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on remaking disclosure and advertising relief for offers of foreign securities to Australian investors

    The Australian Securities & Investments Commission (ASIC) proposes to remake six sunsetting legislative instruments, extending disclosure relief for foreign securities offers to Australian investors by five years. This relief eases participation by reducing multi-jurisdictional disclosure burdens and includes advertising restrictions relief for foreign-targeted ads incidentally published in Australia. Proposed refinements aim for clarity by consolidating exemptions and rewording ambiguities without changing the relief's operation.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-07-09EuropeEuropean Banking Authority

    European Banking Authority consults on revised product governance guidelines to address ESG features and greenwashing in retail banking products

    The European Banking Authority has launched a public consultation on revising its Guidelines for retail banking products with Environmental, Social, and Governance features to address greenwashing. The proposal clarifies existing requirements without new regulatory burdens, covering internal controls, target market assessment, and information flows. This aligns with the EBA’s greenwashing report and recent EU legislative changes, affecting manufacturers and distributors of products like mortgages and personal loans.

    Policy & regulationGuidance & interpretationClimate risk and sustainable financeConsumer and investor protection
  • 2025-07-09TanzaniaTanzania Insurance Regulatory Authority

    Tanzania Insurance Regulatory Authority hosts insurance education class for Kilimani Schools students at the Saba Saba exhibition

    The Tanzania Insurance Regulatory Authority conducted an insurance education session for Kilimani Schools students at the Saba Saba exhibition as part of its "Insurance Village" initiative. The session featured participation from various insurance companies, with professionals addressing students' inquiries. Teachers expressed gratitude and committed to further collaboration with TIRA to enhance insurance awareness among younger students.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-09UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market brings into force amendments to the approval procedure for heads, internal control officials and financial monitoring responsible persons at professional market participants

    Ukraine’s National Commission on Securities and Stock Market has implemented amendments to the approval process for key appointments in professional market participants, aiming to enhance corporate governance and capital market transparency. The changes were adopted on 20 June 2025 and registered by the Ministry of Justice on 7 July 2025.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-07-09IndonesiaOJK

    Indonesia's Financial Services Authority revokes PT Dana Mandiri Sejahtera’s venture capital licence for failure to meet minimum equity requirements

    Indonesia’s Financial Services Authority (OJK) has revoked the business licence of PT Dana Mandiri Sejahtera for failing to meet the minimum equity requirement. The firm is prohibited from conducting venture capital activities and must settle obligations with stakeholders, hold a general meeting to decide on dissolution, and establish a liquidation team. PT DMS is also barred from using "venture capital" or "Sharia venture capital" in its name.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-07-09IndonesiaBank Indonesia

    Bank of Indonesia reports retailers expect June 2025 sales growth to accelerate and price pressures to ease in August before rising by November

    Bank of Indonesia's June 2025 Retail Sales Survey forecasts a 2.0% year-on-year increase in the Real Sales Index (RSI) to 233.7, driven by sectors like Automotive Fuel and Clothing. The survey also anticipates a 0.5% month-on-month growth due to seasonal factors. Price expectations indicate easing in August but an increase by November 2025.

    Data & statisticsEconomic data and developments
  • 2025-07-09GreeceMinistry of National Economy and Finance (Greece)

    Greece's Ministry of National Economy and Finance reports record June volumes in the Out-of-Court Debt Settlement Mechanism

    Greece's Ministry of National Economy and Finance reported a record number and value of restructurings under the Out-of-Court Debt Settlement Mechanism in June, with 1,995 agreements totaling over EUR 670 million. The increase is attributed to higher income and asset eligibility thresholds and recent legislative improvements. Additionally, bilateral loan restructurings with major credit servicers reached EUR 0.5 billion in May, with a 41% focus on mortgages and an 83.7% approval rate.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-07-09GreeceMinistry of National Economy and Finance (Greece)

    Greece's Ministry of National Economy and Finance cites 203 tenders and 102 suppliers in defence of EUR 1.8 billion Recovery and Resilience Facility digital projects

    Greece's Ministry of National Economy and Finance, via Minister Kyriakos Pierrakakis, addressed allegations of irregularities in government digital projects funded by the Recovery and Resilience Facility, emphasizing a 26-stage review process. The minister highlighted that 203 projects were tendered, with EUR 1.8 billion awarded to 102 companies, and noted a Competition Commission review initiated by the Ministry of Development. Pierrakakis stated he would pursue legal action against defamatory claims.

    Policy & regulationReform agendas & prioritiesOther
  • 2025-07-09GreeceMinistry of National Economy and Finance (Greece)

    Greece’s Ministry of National Economy and Finance says the new EU fiscal rule leaves EUR 1.5 billion of fiscal space for 2026

    Greece’s Ministry of National Economy and Finance proposed legislation to align with the EU's new fiscal rule, creating EUR 1.5 billion of fiscal space for 2026. Kyriakos Pierrakakis highlighted a primary surplus of 4.8% and an overall surplus of 1.3%, linking fiscal room to measures like connecting POS terminals to cash registers. He noted a EUR 1.1 billion package for rent returns, pensioner payments, and public investment, and clarified the EU defence escape clause, securing 2024 as the base year for EUR 500 million of fiscal space.

    Policy & regulationGuidance & interpretationOther
  • 2025-07-09United StatesFinancial Industry Regulatory Authority

    Financial Industry Regulatory Authority publishes 2025 Industry Snapshot with new data on off-hours NMS trading and Bitcoin exchange-traded products

    FINRA released the 2025 Industry Snapshot, detailing statistics on registered representatives, brokerage firms, and market activity. The report includes metrics on FINRA membership, firm revenues, and trading activity, with new topics on off-hours trading and Bitcoin exchange-traded products. Updates provide firm-size and account-owner-type breakdowns for trading and order volumes.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-09Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission posts Julia Leung’s opening remarks for the Anti-Scam Consumer Protection Charter 3.0 launch

    The Hong Kong Securities and Futures Commission released a speech by Ms. Julia Leung titled “A New Charter for a Safer Digital Ecosystem,” presented at the launch of the “Anti-Scam Consumer Protection Charter 3.0.”

    Policy & regulationGuidance & interpretationConsumer and investor protection
  • 2025-07-09AustriaAustrian National Bank (OeNB)

    Austrian National Bank approves around EUR 2.9 million in Jubilee Fund grants for 13 research projects

    The Austrian National Bank (OeNB) has allocated approximately EUR 2.9 million from its Jubilee Fund to finance 13 research projects. These projects cover topics such as monetary policy transmission, shadow banks, term structure modelling, digital media transformation, and the interplay between public finances and climate policy.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-07-09AustriaAustria Financial Market Authority

    Austrian Financial Market Authority releases second 1 Minute – 1 Begriff video warning consumers about memecoins

    The Austrian Financial Market Authority (FMA) released the second video in its "1 Minute – 1 Begriff" series, explaining memecoins and warning of their speculative and fraudulent nature. This initiative is part of the FMA's broader consumer information campaign, "Let’s talk about money," which includes content on Instagram and YouTube.

    Financial literacy & educationConsumer and investor protection
  • 2025-07-09Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns cshtb.com is not authorised to conduct banking or deposit-taking business in Hong Kong

    The Hong Kong Monetary Authority (HKMA) issued a public alert stating that "Chong Sing Heritage Trust Bank" is not authorised under the Banking Ordinance to conduct banking or deposit-taking business in Hong Kong. The HKMA advised the public to verify the status of organisations offering banking services online and referenced its list of authorised institutions for verification.

    SupervisionAlertsLicence approval
  • 2025-07-09Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority issues scam alert over Dah Sing Bank fraudulent website and fake internet banking login screen

    The Hong Kong Monetary Authority issued a scam alert regarding a fraudulent website and internet banking login screen involving Dah Sing Bank, Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals should contact their bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-07-09KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlines new law allowing insurers to develop software and acquire stakes in IT companies

    Kazakhstan's Financial Market Agency announced legislative amendments allowing the insurance sector to engage in IT activities, including software development and acquiring IT company interests. The Insurance Payout Guarantee Fund's functions now include software development and professional training. These changes aim to enhance access to insurance products, reduce service costs, and boost market competition.

    Policy & regulationRules & requirementsFintech and insurtechRegulatory reporting
  • 2025-07-09KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan publishes draft banking service rule changes on accessibility, loan payment calculators and three-month tariff notice

    The Agency for Regulation and Development of the Financial Market of Kazakhstan drafted a resolution to amend the National Bank's 2017 banking rules. The amendments aim at financial market development, consumer protection, and reducing regulatory burdens, requiring banks to enhance accessibility for people with disabilities, publish loan calculators, and provide advance notice of fee increases. The draft is available on the “Open NLA” portal and the Agency’s website.

    Policy & regulationRules & requirementsConsumer and investor protection
  • 2025-07-09KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan details new law capping loan-linked insurance agent commissions at 10%

    Kazakhstan's Financial Market Agency announced amendments capping insurance agents’ commissions on contracts linked to bank loans or microcredits at 10% of the insurance premium. The amendments prohibit banks from mandating insurance or restricting borrowers' choice of insurer, making credit-related insurance voluntary. These changes take effect 60 days after the law's first official publication.

    Policy & regulationRules & requirementsPrudential risksSupervision process and methodologies
  • 2025-07-09KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan announces extension of Insurance Payments Guarantee Fund cover to all savings life insurance

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan announced legislative amendments extending the Insurance Payments Guarantee Fund’s coverage to all types of savings life insurance. Previously, the fund's guarantees applied only to compulsory insurance, excluding imputed insurance, State Education Savings System contracts, and pension annuity contracts.

    Policy & regulationRules & requirementsOther
  • 2025-07-09KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan gains powers to bar listed terrorism and extremism financing persons from insurance broker ownership and force stakes below 10%

    Kazakhstan's Financial Market Agency announced a law restricting market access for entities linked to terrorism financing. It prohibits listed individuals from holding significant shares in insurance brokers and empowers the Agency to enforce stake reductions below 10%. These measures align with Financial Action Task Force standards and apply to banks, insurance organizations, and investment portfolio managers.

    Policy & regulationRules & requirementsAML and CFT
  • 2025-07-09Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority flags Isle of Man Treasury updates to Chemical Weapons financial sanctions information

    The Isle of Man Financial Services Authority announced updates to the Isle of Man sanctions regimes, as notified by the Isle of Man Treasury, Customs and Immigration Division. The update includes new information on financial sanctions related to chemical weapons and directs stakeholders to relevant online resources for further details.

    Policy & regulationGuidance & interpretationSanctions list update
  • 2025-07-09Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority publishes thematic review findings on low impact financial advisory firms

    The Isle of Man Financial Services Authority released a report from a thematic review of low impact financial advisory firms, highlighting good practices and areas for improvement. The review involved questionnaire responses from 20 class 2 licenceholders and onsite inspections at four firms. Findings aim to enhance the Authority's understanding of the sector and guide future outreach and engagement.

    SupervisionReviews, inspections & stress testsSupervision process and methodologies
  • 2025-07-09TürkiyeInsurance and Private Pension Regulation and Supervision Agency of Türkiye

    Insurance and Private Pension Regulation and Supervision Agency of Türkiye issues Building Completion Insurance guide for urban transformation and prepaid housing projects

    Türkiye's Insurance and Private Pension Regulation and Supervision Agency released a guide on Building Completion Insurance (Bina Tamamlama Sigortası, BTS), a surety-type insurance for construction projects. It details BTS requirements or alternative security, guarantee certificate issuance, and insurer obligations in contractor defaults, including cash compensation or project completion. It advises verifying insurer licensing and policy validity via the Insurance Information and Monitoring Center’s Sigortam360 tools.

    Policy & regulationGuidance & interpretationOther
  • 2025-07-09ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission orders KWI Insurance to raise at least THB 30 million in paid-up capital and maintain a temporary stop on non-life underwriting

    The Thailand Office of Insurance Commission has mandated KWI Insurance Public Company Limited to enhance its financial position by increasing its paid-up capital by at least THB 30 million within July 2025, while maintaining a temporary halt on underwriting non-life insurance. The company must continue capital raising efforts to ensure liquidity during ongoing business sale negotiations. KWI Insurance may appeal the order within 15 days, with potential further actions if conditions are unmet or risks to policyholders arise.

    SupervisionInterventionsLicence withdrawal
  • 2025-07-09TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan marks SECO leadership handover and reaffirms cooperation on banking-sector reforms

    The National Bank of the Republic of Tajikistan met with Switzerland’s Cooperation Office to mark the leadership transition from Salome Steib to Denise Luci, emphasizing ongoing banking collaboration. Chairman Firdavs Tolibzoda acknowledged Steib's contributions to enhancing banking-system capacity and transparency and expressed commitment to continued partnership with SECO. Discussions included optimizing existing capacities and exploring new cooperation areas.

    Institutional developmentLeadership change & appointmentsCross-border cooperation
  • 2025-07-09Bosnia and HerzegovinaCentral Bank of Bosnia and Herzegovina

    Central Bank of Bosnia and Herzegovina deepens economic research cooperation with the National Bank of Austria

    The Central Bank of Bosnia and Herzegovina hosted a delegation from the National Bank of Austria to enhance cooperation on monetary policy strategy and macroeconomic research. Discussions included the European Central Bank’s revised monetary policy strategy, macroeconomic trends, and the implications for Bosnia and Herzegovina's currency board regime. The central bank plans to intensify collaboration with the National Bank of Austria.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-09United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs hearing probes whether crypto market structure bills could weaken SEC oversight and intensify presidential conflict risks

    The U.S. Senate Committee on Banking, Housing and Urban Affairs released a transcript of Ranking Member Elizabeth Warren's remarks at a hearing on crypto market structure proposals. Warren raised concerns about potential legislation undermining the U.S. Securities and Exchange Commission's authority and creating conflicts of interest related to President Trump's crypto holdings. Former officials warned that exemptions for decentralized trading could weaken SEC oversight and benefit Trump's crypto interests.

    Policy & regulationOther
  • 2025-07-09SpainBank of Spain

    Bank of Spain Governor analyses tourism’s contribution to Spain’s growth outperformance and flags sector challenges

    The Bank of Spain published a speech by Governor José Luis Escrivá highlighting tourism's role in Spain's economic growth from 2022 to 2024, with tourism exports contributing positively and foreign tourist arrivals increasing significantly. The speech noted diversification in tourism flows and improved quality indicators, while also addressing challenges such as climate change adaptation and labour shortages.

    OtherMarket development
  • 2025-07-09SpainBank of Spain

    Bank of Spain financial accounts show household and corporate debt falls to 106.1% of GDP in Q1 2025

    The Bank of Spain's updated Financial Accounts show a decline in the consolidated debt of non-financial corporations and households to 106.1% of GDP in Q1 2025, down from 111.1% a year earlier, despite a nominal increase to EUR 1,710bn. Non-financial corporate debt rose to EUR 1,009bn, with its GDP ratio at 62.6%, the lowest since Q3 2001, while household debt increased to EUR 701bn, with its GDP ratio at 43.5%, the lowest since Q1 2000. Household financial assets grew to EUR 3,171bn, driven by revaluation and net acquisitions, leading to an 8.1% rise in net financial wealth to EUR 2,408bn.

    Data & statisticsBalance of payments and other external statistics
  • 2025-07-09PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines requires quasi-banks and trust entities to publish and submit 30 June 2025 statements of condition

    The Central Bank of the Philippines requires non-bank financial institutions with quasi-banking functions and trust entities to publish their Statement of Condition and Consolidated Statement of Condition or balance sheet as of 30 June 2025 in a local newspaper or, if unavailable, in a Metro Manila publication within 20 working days. Institutions must also submit PDF copies of these documents and the publisher’s certificate within specified deadlines.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-07-09PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines renames its residential property price index and waives notarization for quarterly real estate loan and appraisal reports

    The Central Bank of the Philippines issued Memorandum No. M-2025-026, renaming the Residential Real Estate Price Index (RREPI) to the Residential Property Price Index (RPPI) and simplifying quarterly reporting requirements for banks. The update removes the notarization requirement for submissions, replacing it with scanned forms signed by authorized officials, aligning with international standards.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-07-09IndiaIndia International Financial Services Centres Authority

    India International Financial Services Centres Authority issues public advisory to IFSC consumers on avoiding online scams and frauds

    The India International Financial Services Centres Authority (IFSCA) warned consumers in GIFT IFSC about rising online scams, especially via social media and messaging platforms. The advisory details common scams like unsolicited investment offers and impersonation, urging consumers to verify entities through the IFSCA directory and report suspicious activities. It stresses due diligence and highlights IOSCO's call for platform providers to combat online harm.

    SupervisionAlertsFraud and scams
  • 2025-07-09United StatesNew York State Department of Financial Services

    New York State Department of Financial Services leads multistate USD 4.2 million settlement with Wise US over AML CFT program deficiencies

    The New York State Department of Financial Services and regulators from five other states reached a multistate settlement with Wise US, Inc. over deficiencies in its AML/CFT program. Wise will pay a USD 4.2 million penalty and implement corrective measures, including enhanced reporting, due diligence, and system improvements. An independent third party will verify compliance, with Wise required to submit quarterly progress reports for two years.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-07-09SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore publishes Sustainability Report outlining climate resilience and sustainable finance strategy

    The Monetary Authority of Singapore released its Sustainability Report 2024/2025, outlining strategies for climate resilience and environmental sustainability. The report focuses on enhancing the financial sector's resilience to environmental risks, developing a sustainable finance ecosystem, and building a climate-resilient investment portfolio.

    Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
  • 2025-07-09South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission expands mandatory corporate governance reporting to all KOSPI-listed firms from 2026

    The South Korea Financial Services Commission has approved revisions to the Korea Exchange disclosure rules, mandating all KOSPI-listed companies to publish a corporate governance report from 2026 using a "comply or explain" approach. This expands the requirement from 541 firms to 842 firms. The Korea Exchange and the Korea Listed Companies Association will provide guidance and training to support implementation.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-07-09South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission designates seven non-holding financial groups for 2025 supervision

    South Korea's Financial Services Commission (FSC) has designated seven non-holding financial groups for 2025 under the Act on the Supervision of Financial Conglomerates, including Samsung, Hanwha, and Mirae Asset. These groups must appoint a representative entity, assess group-wide risks, establish internal controls, disclose material information for consumer protection, calculate a capital adequacy ratio, and undergo a supervisory risk assessment every three years.

    SupervisionSupervision approach, priorities & toolkitCorporate governance
  • 2025-07-09South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission, Financial Supervisory Service and Korea Exchange set out one strike out measures against unfair stock market trading

    South Korea's Financial Services Commission, with the Financial Supervisory Service and the Korea Exchange, announced measures to combat unfair stock trading, including price manipulation. Initiatives include a joint investigative team, enhanced market surveillance using pseudonymized data, and increased sanctions. Delisting rules will tighten, with higher thresholds and expedited processes for underperforming companies.

    Policy & regulationRules & requirementsMarket abuse
  • 2025-07-09SerbiaNational Bank of Serbia

    National Bank of Serbia warns users about spoofed SMS prize scams seeking payment card details

    The National Bank of Serbia has issued a warning about fraudulent SMS messages that mimic mobile network operators to harvest payment card data. These scams direct recipients to fake websites offering prizes in exchange for card details. The central bank advises users to contact their bank immediately if they have submitted card information and plans to enforce rules on payment service user protection to prevent such fraud.

    SupervisionAlertsFraud and scams
  • 2025-07-09BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission reverses suspension of Auzza Securitizadora’s public company registration after periodic filings submitted

    The Brazil Securities Commission (CVM) has lifted the suspension of Auzza Securitizadora S.A.'s registration as a publicly-held company. The suspension was removed after the company submitted all required periodic information, following a previous suspension due to non-compliance with CVM Resolution 80.

    SupervisionAuthorisations & approvalsRegulatory reporting
  • 2025-07-09BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission orders Genesis Tech to immediately stop offering securities portfolio management services without authorisation

    The Brazil Securities Commission (CVM) issued a market alert and ordered the immediate suspension of securities portfolio management services by Gênesis Capital (Gênesis Tech) due to lack of CVM authorization. The Institutional Investors Relations Superintendence identified that the services were offered via the company's website and Instagram account. The suspension was enacted through CVM Deliberation 900.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-09OmanOman Financial Services Authority

    Oman Financial Services Authority launches online system for accounting and auditing licence applications and renewals

    The Oman Financial Services Authority has launched an electronic system for licensing and renewing practice licences for accountants and auditors, enabling online submission and tracking. This aims to reduce processing time and enhance transparency, following the transfer of regulatory oversight to the FSA under Royal Decree No. 20/2024. Detailed regulations are in preparation, with stakeholder feedback invited on the proposed rules.

    Policy & regulationImplementation, projects & pilotsLicensing framework and process
  • 2025-07-09MalaysiaMalaysia Securities Commission

    Securities Commission Malaysia launches Young Regulators Development Programme with Durham University

    Securities Commission Malaysia and Durham University have launched the Young Regulators Development Programme, a two-week annual course for early-career capital market regulators from 2025 to 2027. Held in Kuala Lumpur, it covers capital market development, regulation, digital assets, fintech, cybersecurity, sustainability, ESG, and Islamic finance. An ASEAN Financial Regulators Scholarship is available for ASEAN regulators pursuing an MSc in Law and Finance at Durham University.

    Policy & regulationImplementation, projects & pilotsRegulatory burden
  • 2025-07-09AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan meets Swiss National Bank delegation and discusses expanding cooperation

    The Central Bank of the Republic of Azerbaijan hosted a Swiss National Bank delegation, led by Chair Martin Schlegel, to discuss macro-financial developments and institutional cooperation. Talks with Central Bank Chair Taleh Kazimov covered global economic trends, monetary policy, financial stability, and digital financial initiatives. Both parties expressed satisfaction with current Azerbaijan–Switzerland economic relations and explored further cooperation opportunities.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-09GlobalGlobal Legal Entity Identifier Foundation

    Global Legal Entity Identifier Foundation approves Singapore-based TradeGo as Qualified vLEI Issuer

    The Global Legal Entity Identifier Foundation has approved TradeGo Pte. Ltd. as a Qualified vLEI Issuer, enabling it to issue cryptographically verifiable organizational identities within the vLEI ecosystem. This approval supports fraud reduction, compliance efficiency, and aligns with trade digitalisation laws in Singapore and the UK.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-09CanadaOntario Securities Commission

    Ontario Securities Commission and Canadian Investment Regulatory Organization publish report flagging sales culture concerns at five bank-affiliated dealers

    The Ontario Securities Commission and the Canadian Investment Regulatory Organization released a report highlighting sales culture concerns at five bank-affiliated dealers in Canada. The report reveals potential investor harm due to sales practices, with issues such as inappropriate product recommendations and misinformation. The next review phase will examine sales practices and controls for conflicts of interest.

    SupervisionReviews, inspections & stress testsSales and distribution
  • 2025-07-09MontenegroCentral Bank of Montenegro

    Central Bank of Montenegro caps SEPA credit transfer fees and extends domestic payment system operating hours

    The Central Bank of Montenegro has implemented measures to reduce costs and enhance payment service availability, including caps on bank fees for SEPA credit transfers and extended operating hours for domestic payment systems. Banks cannot charge above specified maximum fees for SEPA transfers, with estimated annual savings of EUR 13.9 million. Additionally, the domestic RTGS and DNS systems will have extended hours, and weekend operations are planned from mid-October 2025.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-07-09PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission orders Fortune Wave group to stop soliciting investments and selling unregistered securities

    The Philippine SEC issued a cease and desist order against Fortune Wave Solution Hub OPC and related entities for unauthorized investment solicitation and offering unregistered securities. The order, dated 3 July, targets those marketing unlicensed investment contracts with promised returns of 3% to 330% on Facebook. The SEC found these entities lacked the necessary secondary licence to operate as brokers or dealers.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-09PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission issues cease and desist order against PU Prime over unregistered securities and unlicensed leveraged trading

    The Philippine SEC issued a cease and desist order against Pacific Union LLC for allegedly soliciting investments without necessary approvals. The order halts unregistered securities offerings and leveraged trading services, and prohibits asset transfers to protect investors. The SEC found the group lacked registration and licenses, with investors promised high returns on investments ranging from USD 50 to USD 10,000.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-09CroatiaCroatian Financial Services Supervisory Agency

    Croatian Financial Services Supervisory Agency publishes 2024 complaints report showing record 214 cases and 41 conduct shortcomings

    The Croatian Financial Services Supervisory Agency (Hanfa) reported a record 214 complaints in 2024, with insurance issues comprising 56%, mainly concerning motor vehicle liability and claims handling. The report highlights recurring insurance issues and a rise in online fraud and suspicious investment offers. Hanfa identified conduct shortcomings in 41 cases, mainly in insurance, and incorporated these findings into supervisory activities and recommendations.

    SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
  • 2025-07-09GlobalWorld Federation of Exchanges

    World Federation of Exchanges calls on UK to zero-rate VAT on carbon credits and recognise them as financial instruments

    The World Federation of Exchanges responded to the UK Government’s consultation on Voluntary Carbon and Nature Markets, supporting higher standards and market integrity. It recommends tax and legal changes, including zero-rating VAT on carbon credit transactions and recognizing carbon credits as financial instruments. It advocates a "climate-first" approach, alignment of legal and tax frameworks, and flexibility in international standards, urging firms to publish transition plans and participate in Article 6 carbon credit mechanisms under the Paris Agreement.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-07-09United KingdomPrudential Regulation Authority

    Bank of England and the United Kingdom's Prudential Regulation Authority publish 2024 Cyber Stress Test findings on settlement disruption and financial stability planning

    The Bank of England and the Prudential Regulation Authority shared 2024 Cyber Stress Test findings with PRA-regulated firms, emphasizing the need to understand the Financial Policy Committee’s payments impact tolerance. While response capabilities are mature, gaps in transaction prioritization and sector coordination were identified, with liquidity risks and financial stability implications noted. Firms should integrate these insights into operational resilience policies and share experiences with stakeholders.

    SupervisionReviews, inspections & stress testsCyber resilienceStress testing
  • 2025-07-09United KingdomPrudential Regulation Authority

    Prudential Regulation Authority offers modification by consent to suspend the 15% high loan-to-income mortgage lending cap during its review

    The Prudential Regulation Authority (PRA) is reviewing its loan-to-income (LTI) ratio requirements for residential mortgage lending and offering a modification by consent that temporarily disapplies the 15% flow limit on high LTI lending. Lenders opting for this must report monthly on high LTI mortgage approvals and update their business plans and risk management frameworks. The modification is valid until 30 June 2026 or until the PRA concludes its review and potentially revises the LTI flow limit requirement.

    Policy & regulationRules & requirementsLending
  • 2025-07-09United KingdomBank of England

    Bank of England imposes first financial market infrastructure penalty, fining Vocalink GBP 11.9 million for non-compliance with remediation direction

    The Bank of England fined Vocalink Limited GBP 11.9 million for failing to comply with a remediation directive under the Banking Act 2009, marking the first such penalty for a financial market infrastructure firm. Vocalink's shortcomings included an ineffective risk management framework and inadequate controls, governance, and escalation processes. Early admission and cooperation reduced the original GBP 20 million penalty by 45%.

    EnforcementInvestigations & enforcement actionsCompliance
  • 2025-07-09NigeriaCentral Bank of Nigeria

    Central Bank of Nigeria rolls out new non-interest market instruments and curbs capital distributions for banks under forbearance

    The Central Bank of Nigeria introduced new non-interest liquidity management instruments, including the Nigerian Non-Interest Financial Institutions' Master Repurchase Agreement and CBN Non-Interest Asset-Backed Securities. Banks under regulatory forbearance face restrictions on dividend payments, bonuses, and foreign investments until compliance is verified. The central bank confirmed the June 3, 2025 deadline for Bureau De Change recapitalisation, maintaining capital requirements of NGN 2 billion for Tier-1 and NGN 500 million for Tier-2.

    Policy & regulationRules & requirementsEconomic data and developments
  • 2025-07-09MoroccoMoroccan Capital Markets Authority

    Moroccan Capital Market Authority approves prospectus for Suez employee reserved capital increase of 189.5 million shares

    The Moroccan Capital Market Authority (AMMC) has approved Suez's prospectus for a capital increase through the issuance of 189,500,000 new shares reserved for group employees. The offer targets employees of several Moroccan subsidiaries, with subscription prices set at EUR 1.00 and EUR 1.2048. Supporting documents are accessible via Moroccan subsidiaries, BMCI, Suez's website, and the AMMC website.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-07-09GlobalGlobal Legal Entity Identifier Foundation

    Global Legal Entity Identifier Foundation approves Singapore’s TradeGo as a Qualified vLEI Issuer

    The Global Legal Entity Identifier Foundation has approved TradeGo Pte. Ltd. as a Qualified vLEI Issuer, enabling it to issue cryptographically verifiable organisational identities within the vLEI ecosystem. This supports its blockchain-based platform for cross-border commodity trading, shipping, and payments, linked to fraud reduction, compliance efficiency, and alignment with trade digitalisation laws in Singapore and the UK, with early indications of cost and efficiency gains.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-09GlobalGlobal Legal Entity Identifier Foundation

    Global Legal Entity Identifier Foundation approves TradeGo as a Qualified vLEI Issuer for digital trade and payments use cases

    The Global Legal Entity Identifier Foundation has approved TradeGo Pte. Ltd. as a Qualified verifiable Legal Entity Identifier (vLEI) Issuer, allowing it to issue cryptographically verifiable organizational identities. This supports fraud reduction and compliance efficiency, aligning digital trade processes with laws in Singapore and the UK, with early results indicating significant cost and efficiency gains.

    Policy & regulationImplementation, projects & pilotsBlockchain and distributed ledger technologyCross-border payments
  • 2025-07-09RussiaCentral Bank of Russia

    Central Bank of Russia highlights financial education volunteers’ priorities on scam prevention and market malpractice detection

    The Central Bank of Russia outlined priorities from the 11th All-Russian Congress of Financial Education Volunteers, focusing on distinguishing scams from legitimate offers and improving financial understanding for people with disabilities. Initiatives included tailored projects for adults, such as family budgeting for newlyweds and scam prevention for servicemen. The bank's register includes 19,000 financial education volunteers.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-09RussiaCentral Bank of Russia

    Central Bank of Russia circulates an advisory Code of Ethics for AI in finance based on five principles

    The Central Bank of Russia issued an advisory Code of Ethics for Artificial Intelligence in Finance, outlining five principles to guide AI use and bolster user confidence. The Code emphasizes human-centricity, fairness, transparency, security, and responsible risk management, with expectations for customer interaction and operational assessments. It is positioned as "soft regulation" to facilitate experience sharing and best practice implementation in the Russian market.

    Policy & regulationGuidance & interpretationArtificial intelligence
  • 2025-07-09EuropeEuropean Commission

    European Commission opens applications for the third Platform on Sustainable Finance to advise on EU taxonomy review and transition finance

    The European Commission is calling for applications to join the third Platform on Sustainable Finance, an advisory body for the EU taxonomy and sustainable finance framework. The platform will review technical screening criteria in the Taxonomy Climate and Environmental Delegated Acts and advise on criteria for additional economic activities. It will have up to 35 members, with 28 selected through applications and seven appointed by the Commission.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-07-09IcelandCentral Bank of Iceland

    Central Bank of Iceland submits mandatory report to Government after June 2025 inflation exceeds the target

    The Central Bank of Iceland reported to the Government after June 2025 inflation exceeded the target deviation threshold, requiring an explanation and response plan under a 2001 joint declaration. The Bank also released a letter to the Prime Minister and referenced supporting materials, including the Monetary Bulletin 2025/2 and recent Monetary Policy Committee documents.

    Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
  • 2025-07-09EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority to support activation of the Agricultural Takaful Fund and expansion of insurance cover for crops and livestock

    The Egypt Financial Regulatory Authority (FRA) and the Minister of Agriculture discussed accelerating the Agricultural Takaful Fund's work plan to enhance insurance protection for farmers under the Unified Insurance Law. The FRA will provide technical support to ensure efficient fund operation, focusing on expanding coverage to crops and livestock and simplifying access to benefits. Established by presidential and prime ministerial decisions, the fund aims to mitigate climate-related and pest risks.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-07-09AfghanistanCentral Bank of Afghanistan

    Central Bank of Afghanistan joins Islamic Financial Services Board annual meeting and discusses Shariah-aligned banking sector management

    The Central Bank of Afghanistan's Acting Governor Noor Ahmad Agha attended the Islamic Financial Services Board's 23rd annual meeting in Rabat, where members reviewed IFSB activities and reports on Islamic banking. Discussions covered Shariah-based banking standards, financial stability, digitalisation, and global challenges in Islamic finance. Agha also met with the IFSB Secretary-General to discuss Shariah-aligned management improvements and capacity-building for Afghanistan's banking sector.

    Policy & regulationCooperationOther
  • 2025-07-09ChileCentral Bank of Chile

    Central Bank of Chile publishes first Payment Behaviour Study showing debit cards lead while cash remains widely used

    The Central Bank of Chile released its first Payment Behaviour Study, combining a survey and a "Payments Diary" to analyze payment habits across the country. The study found debit cards to be the most used payment method, while cash was primarily used for low-value transactions in markets and transport. Despite a growing preference for debit, cash remains prevalent, especially among lower-income groups and for small purchases.

    Research
  • 2025-07-09CanadaCanadian Investment Regulatory Organization

    Ontario Securities Commission and Canadian Investment Regulatory Organization report flags sales culture concerns at five major bank-affiliated dealers

    The Ontario Securities Commission and the Canadian Investment Regulatory Organization released a report on sales culture concerns at major bank-affiliated mutual fund dealers in Canada. Based on a survey of nearly 3,000 mutual fund dealing representatives, it indicates potential client harm from sales pressure and incentives, including misaligned recommendations and incorrect product information. The next phase will examine sales practices and controls to address conflicts of interest.

    SupervisionRisk monitoring & watch pointsSales and distribution
  • 2025-07-09United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission Division of Enforcement issues advisory on Department of Justice referrals for criminal regulatory offenses

    The Commodity Futures Trading Commission's Division of Enforcement issued an advisory on addressing criminally liable regulatory offenses under Executive Order 14294. It outlines criteria for referring potential violations to the US Department of Justice, including harm caused, potential gain, expertise, awareness of unlawfulness, recidivism, and the need for DOJ involvement. This advisory replaces Federal Register publication due to the lack of a majority Commission vote.

    EnforcementEnforcement frameworkOther
  • 2025-07-09United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission extends Part 45 swap reporting no-action relief for counterparties clearing through Relief DCOs

    The Commodity Futures Trading Commission's Division of Market Oversight extended the no-action position from CFTC Staff Letter No. 22-18 regarding Part 45 swap reporting requirements. This extension applies to counterparties clearing swaps through derivatives clearing organizations operating under a CFTC exemptive order or a Division of Clearing and Risk no-action letter.

    Policy & regulationGuidance & interpretationRegulatory reporting