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  • 2025-07-03Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia's Capital Markets Authority approves regulation to enforce close-out netting and financial collateral arrangements for qualified financial contracts

    Saudi Arabia's Capital Markets Authority (CMA) approved the Close-out Netting and Collateral Arrangements Regulation, establishing enforceability for netting agreements and financial collateral arrangements involving capital market institutions. The regulation ensures qualified financial contracts remain enforceable in default events, aligning with international practices. It includes definitions, scope, and exemptions from the Bankruptcy Law, and was publicly consulted on previously.

    Policy & regulationRules & requirements
  • 2025-07-03MontenegroCentral Bank of Montenegro

    Central Bank of Montenegro deepens cooperation talks with the Central Bank of Luxembourg to support supervision and digitalisation

    Montenegro's Central Bank Governor Irena Radovic met with Luxembourg's Governor Gaston Reinesch to enhance bilateral cooperation on financial supervision, digitisation, and capacity building. They discussed global economic trends and challenges, emphasizing strong institutions and resilient financial infrastructure. Both expressed commitment to ongoing cooperation and mutual support in reform efforts.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-03EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority selects Ediphy fairCT as the first EU consolidated tape provider for bonds

    The European Securities and Markets Authority (ESMA) has selected Ediphy fairCT as the first Consolidated Tape Provider for bonds in the EU, following a six-month assessment under the Markets in Financial Instruments Regulation. Ediphy fairCT met all selection criteria and achieved the highest score, and will be invited to apply for authorisation to operate the bond consolidated tape for five years under ESMA's supervision.

    SupervisionAuthorisations & approvalsMarket infrastructure
  • 2025-07-03EuropeEuropean Systemic Risk Board

    European Systemic Risk Board flags elevated EU financial stability risks and accelerates work on stablecoin fungibility

    The European Systemic Risk Board (ESRB) noted elevated EU financial stability risks due to trade uncertainty, geopolitical tensions, and market volatility. The ESRB plans to accelerate assessments of systemic risks from stablecoins and highlighted concerns over trade restrictions, Middle East developments, and sovereign risks from increased defense spending. It reviewed reports on non-bank financial intermediation and credit default swap markets, and released its 52nd risk dashboard, emphasizing a comprehensive framework for systemic risk assessment.

    SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMonetary policy decisions and developments
  • 2025-07-03Dominican RepublicCentral Bank of the Dominican Republic

    Central Bank of the Dominican Republic meets Tony Blair Institute to explore cooperation and prepares tender for 24/7 retail payments platform

    The Central Bank of the Dominican Republic, with the Tony Blair Institute and the Vice Presidency, reviewed strategic digital initiatives for national digital transformation. Key developments include enhanced cybersecurity, an agile payments system with World Bank support, and plans for a 24/7 retail payments platform. The bank reported significant financial inclusion progress with over 6,169 banking subagents and transaction volumes exceeding DOP 33 billion.

    Policy & regulationCooperationFintech and insurtechMarket development
  • 2025-07-03MontenegroInsurance Supervision Agency of Montenegro

    Insurance Supervision Agency of Montenegro launches quarterly Statistical Bulletin with Q1 2025 insurance sector indicators

    The Insurance Supervision Agency of Montenegro released its inaugural Statistical Bulletin, offering a quarterly overview of key data and indicators for Montenegro's insurance sector for Q1 2025. This publication aims to aid in the analysis and assessment of market conditions and trends.

    Data & statisticsSupervisory data
  • 2025-07-03BotswanaBank of Botswana

    Bank of Botswana warns of counterfeit P200 banknotes in circulation bearing serial number AA0123456

    The Bank of Botswana has issued a public alert regarding counterfeit P200 banknotes circulating in the southern region, identified by the serial number AA0123456. The Bank advises the public to verify notes using security features such as a zebra watermark, holographic stripe, and raised intaglio printing. Suspected counterfeits should be reported to local police or Bank of Botswana offices.

    SupervisionAlertsFraud and scams
  • 2025-07-03UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market publishes infographic on why auditing matters and says it is simplifying financial statement submissions

    The Ukraine National Commission on Securities and Stock Market emphasized the importance of financial statement audits in maintaining market integrity and aiding investor decisions. It is collaborating with market participants to streamline the submission process for financial statements, aiming for simplicity and clarity.

    Financial literacy & educationAuditing
  • 2025-07-03AngolaMinistry of Finance (Angola)

    Angola's Ministry of Finance calls for faster, coordinated application of the corporate recovery and insolvency regime as non-performing loans near 20%

    Angola’s Ministry of Finance, through Secretary of State Juciene de Sousa, stressed shifting the corporate recovery and insolvency framework towards restructuring over dissolution. Law No. 13/21 aligns with international standards, necessitating changes in market and court practices, institutional capacity, and specialist training. RECREDIT’s chair Valter Barros highlighted that high non-performing loans affect liquidity and economic stability, positioning RECREDIT as crucial in corporate revitalization.

    Policy & regulationImplementation, projects & pilotsRecovery and resolution
  • 2025-07-03NetherlandsDutch Authority for the Financial Markets

    Dutch Authority for the Financial Markets sets three focus areas to strengthen CSRD sustainability reporting after first ESRS reports

    The Dutch Authority for the Financial Markets assessed the first Corporate Sustainability Reporting Directive (CSRD) reports under the European Sustainability Reporting Standards (ESRS), noting progress in firms' impacts on people, the environment, and society. The reports are strategically relevant for management and supervisory boards, with improvements in structure and clarity. The AFM will maintain a gradual phase-in approach amid uncertainties from the European Commission’s Omnibus proposal, focusing on refining materiality analysis.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-07-03IndonesiaOJK

    Indonesia's Financial Services Authority to draft regulation strengthening the health insurance ecosystem and postpone Circular Letter 7/2025

    Indonesia's Financial Services Authority (OJK) will draft a new regulation to strengthen the health insurance ecosystem, delaying the implementation of OJK Circular Letter No. 7 of 2025. This regulation aims to provide a stronger legal basis and comprehensive rules, enhancing governance and prudential standards. OJK will continue coordinating with stakeholders, including policyholders, insurers, and healthcare facilities.

    Policy & regulationRules & requirementsOther
  • 2025-07-03North MacedoniaNational Bank of the Republic of North Macedonia

    National Bank of the Republic of North Macedonia reports expanded financial education outreach in the first half of 2025

    The National Bank of the Republic of North Macedonia reported enhanced financial education efforts in H1 2025, with increased outreach and participation. The program included 39 lectures for 1,059 participants and training for teachers, who then educated 2,622 students. Activities also featured a social media quiz and a workshop with secondary school students.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-03GeorgiaNational Bank of Georgia

    National Bank of Georgia Governor attends IMF and World Bank constituency meeting in Luxembourg and moderates green economy panel

    Governor Natia Turnava of the National Bank of Georgia attended the IMF and World Bank constituency meeting in Luxembourg, alongside Finance Minister Lasha Khutsishvili. Turnava will moderate a panel on central banks' roles in the green economy, featuring a keynote by Frank Elderson of the European Central Bank. The meeting gathers policymakers and financial leaders to address global challenges.

    OtherClimate risk and sustainable finance
  • 2025-07-03PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan consults on amendments to cut bonus and rights share issuance timelines to 11 and 50 days

    The Securities and Exchange Commission of Pakistan has proposed draft amendments to the Companies (Further Issue of Shares) Regulations, 2020, aiming to significantly reduce timelines for bonus and right share issuances. The amendments propose reducing the bonus issue timeline from 85 to 11 days and the right issue timeline from 181 to 50 days. Additional changes include removing the requirement for a draft offer document in Urdu and mandating more information with the right offer document.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities and Investments Commission warns consumers about high-pressure superannuation switch pitches into risky investments

    The Australian Securities and Investments Commission (ASIC) warns Australians about aggressive sales tactics and misleading ads pressuring superannuation switches to risky schemes. Red flags include cold calls, free super "health checks," and offers to consolidate lost super, often with unlicensed advice. Consumers should verify salespersons' fund connections, seek independent advice, and disengage if pressured. This alert is part of a campaign against "pushy comparison" offerings, as Australian superannuation assets exceed AUD 4 trillion.

    SupervisionAlertsFraud and scams
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission warns of scam websites impersonating ASIC Connect and asic.gov.au

    The Australian Securities & Investments Commission (ASIC) warns of scam websites impersonating ASIC Connect and its main site to steal sensitive information. These sites mimic ASIC's design and may link to genuine content. ASIC advises verifying official sites like asic.gov.au before entering information and reporting suspicious sites. Victims should stop payments, contact financial institutions, and report scams to authorities.

    SupervisionAlertsFraud and scams
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission issues 2024-25 cost recovery statement estimating industry funding levies at AUD 349.3 million

    The Australian Securities & Investments Commission (ASIC) released its 2024-25 Cost Recovery Implementation Statement, projecting AUD 349.3 million in recoverable regulatory costs, a 6% increase from the previous year. This rise is due to funding for scams prevention, climate-related disclosures, beneficial ownership reforms, and enhancements to ASIC’s data and cybersecurity capabilities. The statement details estimated costs and levies for ASIC’s 52 regulated subsectors, highlighting significant variances in 16 subsectors. Final levies will be published in December 2025.

    Policy & regulationImplementation, projects & pilots
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on remaking deposit product disclosure relief with no changes

    The Australian Securities & Investments Commission (ASIC) seeks feedback on remaking the ASIC Corporations (Deposit Product Disclosure) Instrument 2015/683, which exempts authorised deposit-taking institutions from disclosing interest rates in Product Disclosure Statements (PDS) and termination values in periodic statements, provided the PDS explains how to access current interest rate information. This relief prevents the need for new or supplementary PDS issuance with each interest rate change.

    Policy & regulationRules & requirementsDisclosures
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission bans former Lighthouse Partners director Kiriley Roper for 10 years over fees for no service

    The Australian Securities & Investments Commission (ASIC) has banned former financial adviser Kiriley Roper, also known as Ms Suckling, from providing financial services for 10 years due to fees for no service (FFNS) conduct affecting 14 clients. Roper failed to report the FFNS or refund AUD 81,652.71 plus interest. The ban, effective 30 June 2025, is recorded on ASIC’s banned register. Roper can seek a review at the Administrative Review Tribunal.

    EnforcementSanctions & designations
  • 2025-07-03AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission reports Companies Auditors Disciplinary Board admonishes iSignthis FY18 review auditor and orders AUD 490,000 costs

    The Australian Securities & Investments Commission (ASIC) announced that the Companies Auditors Disciplinary Board (CADB) has admonished Simon Christopher Trivett, a partner at Grant Thornton Audit Pty Ltd, for inadequate performance as Review Auditor for iSignthis Ltd’s 2018 financial statements. Trivett must provide undertakings to ASIC and pay AUD 490,000 in costs. This marks the first CADB decision on the roles of Review Auditors and Engagement Quality Control Reviewers in audits. The enforcement action followed ASIC's application in February 2021 and a panel determination in September 2023.

    EnforcementInvestigations & enforcement actionsAuditing
  • 2025-07-03EuropeEuropean Banking Authority

    European Banking Authority and other European Supervisory Authorities sign cooperation MoU with the EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism

    The European Banking Authority and other European Supervisory Authorities have signed a Memorandum of Understanding with the EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism to enhance cooperation and information exchange. This agreement supports supervisory convergence, facilitates AML/CFT information sharing, and promotes cross-sector learning among supervisors. It is part of AMLA's broader framework to ensure consistent application of EU AML/CFT rules and directly supervise high-risk financial institutions.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-03LuxembourgLuxembourg Commission de Surveillance du Secteur Financier

    Luxembourg Commission de Surveillance du Secteur Financier reports fund net assets rose 2.61% to EUR 5,765.4bn at end-May 2025

    The Luxembourg Commission de Surveillance du Secteur Financier reported that total net assets of Luxembourg UCIs, specialised investment funds, and SICARs rose to EUR 5,765.403bn as of 31 May 2025, driven by a EUR 146.518bn increase from positive market impacts and net capital investment. The number of UCIs decreased slightly to 3,107, with market gains attributed to improved risk sentiment amid easing US-China tariff tensions. Notable trends included strong US equity performance and mixed fixed income flows, with money market outflows contrasting with High Yield bond inflows.

    Data & statisticsFinancial and market indicators
  • 2025-07-03UkraineNational Bank of Ukraine

    National Bank of Ukraine publishes recap of NBU-NBP ARC 2025 on economic and financial integration amid global fragmentation

    The National Bank of Ukraine summarized the 9th NBU-NBP Annual Research Conference on central banks' operations amid geopolitical turbulence. Discussions included integration strategies, currency roles, and monetary regimes, with contributions from Christine Lagarde, Andrew Bailey, and Kenneth Rogoff. The event was co-hosted with Narodowy Bank Polski and supported by Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH and the International Monetary Fund.

    ResearchGeopolitical riskMonetary policy decisions and developments
  • 2025-07-03United KingdomFinancial Conduct Authority

    Financial Conduct Authority review finds ongoing off-channel communications breaches at wholesale banks including 41% involving directors

    The Financial Conduct Authority (FCA) reviewed off-channel communications in eleven wholesale banks, noting improvements but ongoing breaches of internal policies. The review emphasized the need for firms to record and monitor in-scope communications per SYSC 10A, highlighting actions in policy, controls, and surveillance. The FCA warned that repeated breaches, especially by senior leaders, could attract supervisory attention.

    SupervisionReviews, inspections & stress testsComplianceSupervision process and methodologies
  • 2025-07-03PortugalPortuguese Insurance Regulator (ASF)

    Portuguese Insurance and Pension Funds Supervisory Authority publishes list of insurers adopting recommendations to distinguish health insurance from health plans

    The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) listed insurers adopting its recommendations to distinguish health insurance from "health plans." These measures aim to enhance regulation of the Sickness line by ensuring clearer product positioning and informed consumer choices. Recommendations include avoiding the term "plan" for coverage packages, revising policy wording, and conducting digital information campaigns.

    Policy & regulationGuidance & interpretationConsumer and investor protection
  • 2025-07-03GreeceMinistry of National Economy and Finance (Greece)

    Greece's Ministry of National Economy and Finance urges EU-wide industrial policy to create European champions and reports a 4.8% primary surplus

    Greece’s Minister of National Economy and Finance, Kyriakos Pierrakakis, advocated for a unified EU industrial policy to create "European champions" and address challenges. He highlighted Greece's fiscal achievements, including a primary surplus of 4.8% of GDP, and initiatives like the MITOS platform for public service modernization. The minister noted Euronext's proposal to acquire the Athens Stock Exchange as strategically significant and emphasized the EU Recovery Fund's role in financing reforms.

    Policy & regulationReform agendas & prioritiesOther
  • 2025-07-03AustraliaAustralian Transaction Reports and Analysis Centre (AUSTRAC)

    Australian Transaction Reports and Analysis Centre orders external audit of Western Union Financial Services Australia over AML and counter-terrorism financing compliance concerns

    AUSTRAC has mandated Western Union Financial Services Australia to appoint an external auditor due to concerns over compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act. Issues include inadequate customer due diligence and non-compliant reporting. Despite Western Union's self-disclosure and remediation efforts, AUSTRAC remains unconvinced. The auditor will report to AUSTRAC to assess compliance improvements and determine further regulatory actions.

    SupervisionInterventionsAML and CFTCompliance
  • 2025-07-03EuropeAuthority for Anti-Money Laundering and Countering the Financing of Terrorism

    Authority for Anti-Money Laundering and Countering the Financing of Terrorism and European Central Bank sign Memorandum of Understanding to coordinate AML/CFT and prudential supervision

    The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) and the European Central Bank (ECB) signed a Memorandum of Understanding to enhance cooperation and information exchange, aiming to strengthen supervisory effectiveness. The framework supports coordination in overlapping mandates, including AMLA's direct supervision of entities exposed to cross-border money laundering risks, and establishes principles for information exchange, policy alignment, and cooperation on supervisory measures and sanctions.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-03EuropeAuthority for Anti-Money Laundering and Countering the Financing of Terrorism

    European Union's Authority for Anti-Money Laundering and Countering the Financing of Terrorism signs information sharing and cooperation MoU with the European Supervisory Authorities

    The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) signed a Memorandum of Understanding with European Supervisory Authorities, including the European Banking Authority, Insurance and Occupational Pensions Authority, and Securities and Markets Authority. This MoU establishes cooperation and information exchange to enhance supervisory convergence and cross-sectoral learning within the EU financial sector, aligning with AMLA Regulation requirements.

    Policy & regulationCooperationCross-border cooperation
  • 2025-07-03EuropeAuthority for Anti-Money Laundering and Countering the Financing of Terrorism

    Authority for Anti-Money Laundering and Countering the Financing of Terrorism and European Central Bank sign MoU to coordinate AML/CFT and prudential supervision

    The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) and the European Central Bank (ECB) have signed a Memorandum of Understanding to enhance cooperation and information exchange, aiming to improve supervisory effectiveness and avoid duplication. The agreement supports coordination where AMLA’s supervision intersects with the ECB’s prudential oversight, committing both to consistent policy approaches and cooperation on supervisory measures, including internal controls, governance, and sanctions, fulfilling the EU anti-money laundering package's requirements.

    SupervisionCooperationCross-border cooperation
  • 2025-07-03SwedenRiksbank

    Sweden's Riksbank Governor Thedéen sets out EU Savings and Investment Union do’s and don’ts, warning against politicised product rules and full supervisory centralisation

    Riksbank Governor Erik Thedéen advocated for a market-led approach to the EU’s Savings and Investment Union, emphasizing exchange interoperability and regional financial centre development while cautioning against politicisation. He called for uniform implementation of EU rules like the Market Abuse Regulation and highlighted Sweden’s investment savings account as a model for broadening retail participation. Thedéen critiqued limited progress on EU initiatives like the Pan-European Personal Pension Product and suggested an optional EU insolvency regime to enhance cross-border investment.

    Policy & regulationReform agendas & prioritiesMarket development
  • 2025-07-03SwedenRiksbank

    Sweden's Riksbank flags persistent Bankomat ATM disruptions and directs the public to availability information

    The Riksbank reported significant disruptions in cash withdrawals and deposits at Bankomat ATMs, with up to 30% of machines closed due to operational issues following Bankomat's takeover from Loomis. The Swedish Post and Telecom Authority is responsible for ensuring cash-service availability compliance. The Riksbank advises users to consult Bankomat's website for operational ATMs and consider alternatives like Kontanten, ICA Bank, and Forex.

    SupervisionRisk monitoring & watch pointsCurrency and cash management
  • 2025-07-03Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission fines Freeman Commodities now Arta Global Futures HKD 3.4 million and suspends former responsible officer for AML and monitoring failures

    The Hong Kong Securities and Futures Commission (SFC) reprimanded and fined Freeman Commodities Limited, now Arta Global Futures Limited, HKD 3.4 million for AML/CFT and regulatory failures from June 2017 to December 2018. The firm failed to conduct due diligence on customer systems and lacked effective monitoring of client accounts and trading patterns. Mr. Li Chun Kei, a former responsible officer, was suspended for four months, with the SFC considering the firm's financial position and business cessation in setting the sanctions.

    EnforcementInvestigations & enforcement actionsAML and CFTCorporate governance
  • 2025-07-03Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission welcomes HKEX launch of Order Routing Service on Integrated Fund Platform

    The Hong Kong Securities and Futures Commission endorsed Hong Kong Exchanges and Clearing Limited's launch of an Order Routing Service on the Integrated Fund Platform, enhancing market infrastructure for the retail funds industry. This service aims to improve communication and connectivity within Hong Kong's fund distribution network, boosting operational efficiency and cost optimisation. The platform is being implemented in phases, with the SFC collaborating with HKEX and others for its full deployment.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-07-03AustriaAustria Financial Market Authority

    Austria Financial Market Authority relays IMF assessment of a healthy financial system while urging vigilance on credit risks

    The Austria Financial Market Authority summarized the IMF's Article IV Consultation, which found Austria's financial sector healthy with appropriate macroprudential measures. The IMF advised vigilance on credit risks and ensuring banks adhere to sustainable loan criteria for residential real estate. It also supported a sectoral systemic risk buffer for commercial real estate financing.

    Policy & regulationPeer reviews and country evaluationsCredit riskMacroprudential policy and tools
  • 2025-07-03Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of scams using fraudulent bank websites and internet banking login screens

    The Hong Kong Monetary Authority issued a scam alert about fraudulent websites and spoofed internet banking login screens linked to The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-07-03KazakhstanAgency 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 warns of Kazpost impersonation scams seeking SMS verification codes

    Kazakhstan's Financial Market Agency warns of fraud schemes impersonating Kazpost to steal data and arrange online loans. Scammers use SMS and WhatsApp calls to obtain verification codes. The agency advises against sharing SMS codes, following unknown links, or disclosing personal information, and recommends using official channels for verification and activating a voluntary refusal for loans via eGov.kz.

    SupervisionAlertsFraud and scams
  • 2025-07-03TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan grants Zinda Capital a licence to operate as a micro deposit-credit organisation

    The National Bank of the Republic of Tajikistan granted a licence to Zinda Capital, a closed joint-stock company micro deposit-credit organisation, to conduct banking operations in both national and foreign currencies. This authorization aligns with the laws governing the National Bank, microfinance organisations, and the licensing system.

    SupervisionAuthorisations & approvalsOther
  • 2025-07-03TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan joins Islamic Financial Services Board annual meeting and holds cooperation talks on Islamic finance

    Firuz Sharifzoda, First Deputy Chairman of the National Bank of Tajikistan, attended the 23rd Islamic Financial Services Board meeting in Morocco to discuss international cooperation and Islamic finance development. Hosted by the Central Bank of Morocco, the meeting addressed Islamic financial system stability, legal framework improvements, and regulatory enhancements. Sharifzoda also engaged with central bank leaders and international organizations on cooperation, resource access, and training in Islamic finance.

    Policy & regulationCooperationOther
  • 2025-07-03TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan to introduce new TJS 20 to TJS 500 banknotes from 2024 and 2025 issues

    The National Bank of the Republic of Tajikistan will introduce new paper banknotes in TJS 200 and TJS 500 denominations from the 2024 issue, and TJS 20, TJS 50, and TJS 100 denominations from the 2025 issue. These will circulate alongside existing banknotes of the same denominations.

    Monetary policyMonetary policy instruments & operationsCurrency and cash management
  • 2025-07-03TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan reports MF252728 credit auction results with TJS 20 million allotted at 8.40%

    The National Bank of the Republic of Tajikistan announced the results of its MF252728 credit auction on 3 July 2025, allocating TJS 20,000,000 at an annual interest rate of 8.40%. The auction matched bids totaling TJS 20,000,000 with a weighted average rate of 8.40%.

    Monetary policyMonetary policy instruments & operationsRegulatory reporting
  • 2025-07-03BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance earns Level 2 IA-CM internal audit capability certification

    The Brazilian Superintendence of Private Insurance (SUSEP) achieved Level 2 "Infrastructure" certification under the Internal Audit Capability Model (IA-CM) after external validation by Brazil’s Office of the Comptroller General. This follows SUSEP's internal audit improvement programme initiated in 2021, culminating in a successful self-assessment and external validation in 2024. SUSEP plans to pursue Level 3 certification in future assessments.

    Institutional developmentCooperation & capacity buildingAuditing
  • 2025-07-03BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance reiterates that the new insurance contracts law will override conflicting regulations from 11 December 2025

    The Brazilian Superintendence of Private Insurance (SUSEP) issued guidance on implementing Brazil’s new legal framework for insurance contracts under Law No. 15,040/2024, effective 11 December 2025. SUSEP emphasized that statutory provisions will override conflicting sub-legal rules and urged compliance from insurers and market participants. Ongoing work includes reviewing existing regulations, drafting complementary rules, and assessing impacts, with public consultations planned as draft rules are developed.

    Policy & regulationGuidance & interpretationOther
  • 2025-07-03BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance discusses digital transformation and the new Insurance Contract Law at Insurtech Brasil 2025

    The Brazilian Superintendence of Private Insurance (SUSEP) joined Insurtech Brasil 2025, discussing digital transformation in insurance. Superintendent Alessandro Octaviani highlighted advances under the new Insurance Contract Law and SUSEP's support for innovation. Key topics included regulatory innovation, legislative changes for insurance cooperatives, and AI integration in insurance processes.

    Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptech
  • 2025-07-03EuropeEurosif

    Eurosif calls for minimum-criteria ESG product categories and stronger disclosures in the SFDR review

    Eurosif's report for the European Commission's end-2025 review of the SFDR advocates for clearer, consistent, and user-friendly regulations. It suggests defining ESG categories, enhancing disclosures, and aligning SFDR with other EU rules. While SFDR has increased transparency since March 2021, it has been used as a product classification system without necessary definitions, leading to gaps the review could address.

    Policy & regulationReform agendas & prioritiesESG
  • 2025-07-03SpainBank of Spain

    Bank of Spain Governor Escrivá sets out how migration and industrial policy governance shape Spain’s growth outlook under trade uncertainty

    The Bank of Spain's Governor José Luis Escrivá emphasized migration and industrial policy as key to sustaining Spain's economic growth amid global volatility at the Banco de España-CEMFI-UIMP Conference. Spain's GDP growth is projected to slow to 2.4% in 2025 and 1.8% in 2026, with potential further declines under adverse scenarios involving retaliatory tariffs. The speech highlighted the significant role of foreign-born individuals in job creation and stressed the need for robust policy assessments and regulatory stability.

    Monetary policyMonetary policy assessments & outlooksGeopolitical risk
  • 2025-07-03PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines cancels registrations of Prince Rockwell, Kings Hopewell and World Reliance and denies reconsideration

    The Central Bank of the Philippines has cancelled the registrations of Prince Rockwell Money Changer Corporation, Kings Hopewell Group Corp, and World Reliance Trading Corp due to serious violations of anti-money laundering regulations. The cancellations, approved by the Monetary Board under various resolutions, were based on breaches of Section 601-N and related regulations. Requests for reconsideration by the entities were denied with finality.

    EnforcementSanctions & designationsAML and CFT
  • 2025-07-03South AfricaSouth African Reserve Bank

    South African Reserve Bank publishes Corporation for Public Deposits financial statements showing ZAR 775 million comprehensive income and no dividend

    The South African Reserve Bank released the Corporation for Public Deposits’ annual financial statements for the year ending 31 March 2025, showing a total comprehensive income of ZAR 775 million, all transferred to its contingency reserve. The CPD, a subsidiary of the Reserve Bank, invests in short-term money market instruments and securities under CPD Investment Guidelines. Audited by SNG Grant Thornton Inc., the statements adhere to the CPD Act and IFRS standards with reduced disclosure on market and credit risk.

    Data & statisticsAccounting and financial reporting
  • 2025-07-03South AfricaSouth African Reserve Bank

    South African Reserve Bank outlines how to exchange withdrawn old-series Big Five R200 banknotes

    The South African Reserve Bank (SARB) issued guidance on exchanging withdrawn old-series Big Five ZAR 200 banknotes, emphasizing their removal due to high-quality counterfeits. Exchanges are now limited to the SARB Head Office in Johannesburg on specific days, while upgraded notes with signatures of former governors remain valid. Key security features for verification include watermark, security thread, and tactile identifiers.

    Policy & regulationGuidance & interpretationCurrency and cash management
  • 2025-07-03BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority prioritises updated sanctions regime for closed pension funds as Social Security Minister backs pending decree

    The Brazilian Pension Funds Authority (PREVIC) outlined its regulatory priorities to Brazil’s Minister of Social Security, stressing the need to update the sanctions regime under Decree 4,942/2003 for legal certainty. Other priorities include revising National Complementary Pension Council Resolution 30/2018, pursuing a technical cooperation agreement with the Federal Court of Accounts, and developing a generative AI tool for internal processes. PREVIC also highlighted advances like consolidating guidance for closed pension funds and contributing to various resolutions and laws.

    Policy & regulationRules & requirementsSupervision process and methodologies
  • 2025-07-03PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines launches redesigned BSP website with improved navigation and performance

    The Central Bank of the Philippines has launched a redesigned website as part of its digital transformation agenda, enhancing accessibility and responsiveness for stakeholders. The site features a modern mobile-responsive layout, improved usability, and dedicated sections for exchange rates and press releases. This follows the BSP Mobile App rollout in April 2025, with ongoing refinements planned.

    Institutional developmentTechnology & data transformationIT management
  • 2025-07-03PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines circulates draft circular to require banks and e-money issuers to curb online gambling risks on digital platforms

    The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) plans to issue a circular to enhance user protection on digital platforms against online gambling risks, following stakeholder feedback. The proposed rules would require BSP-supervised institutions, such as banks and electronic money issuers, to implement measures like limiting gaming access through regulated platforms. This initiative builds on previous BSP actions, including directives against unlicensed gambling operators and the removal of e-sabong links.

    Policy & regulationRules & requirementsConsumer and investor protection
  • 2025-07-03ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision orders blocking of five unauthorised insurance intermediation websites

    The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of insurance intermediation through five unauthorized websites and instructed Italian providers to block access. The affected domains include serviziopreventivionline.com and massimilianocoiana.it. IVASS advises consumers to verify the authorization of insurance offers, particularly for short-term motor third-party liability policies, before making payments.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-03SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore publishes Guardian FX workstream report on tokenised bank liabilities for transaction banking

    The Monetary Authority of Singapore published a Guardian FX workstream report, developed with the foreign exchange industry group, highlighting the potential of tokenised bank liabilities supported by shared ledger infrastructures. The report suggests these innovations could facilitate 24/7 real-time cross-border settlement and enhance liquidity management in transaction banking.

    Policy & regulationImplementation, projects & pilotsCross-border paymentsTokenization
  • 2025-07-03SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore and United Kingdom authorities deepen cooperation on tokenisation, AI and sustainable finance at the 10th Financial Dialogue

    The Monetary Authority of Singapore and UK counterparts concluded the 10th UK-Singapore Financial Dialogue, expanding their agenda on digital finance, innovation, and sustainable finance. Key agreements include collaboration on asset tokenisation through Project Guardian and developing a joint AI regulation programme in financial services. Discussions also covered sustainable finance, capital markets, and international regulatory developments, with MAS noting full implementation of Basel III reforms from January 2025.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-07-03SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore extends Seller’s Stamp Duty holding period to four years and raises rates by four percentage points per tier

    The Monetary Authority of Singapore announced changes to the Seller’s Stamp Duty (SSD) on residential properties, extending the holding period from three to four years and increasing rates by four percentage points for each tier. The revised SSD applies to properties purchased from 4 July 2025 and does not affect HDB owners. The changes revert to pre-2017 conditions due to a rise in short-term private residential transactions.

    Policy & regulationRules & requirementsOther
  • 2025-07-03SerbiaNational Bank of Serbia

    National Bank of Serbia notes Post of Serbia now executes urgent payment orders as instant payments at counters

    The National Bank of Serbia announced that the Post of Serbia now offers instant payments for urgent orders up to RSD 300,000 at its counters. These payments are processed through the National Bank of Serbia’s Instant Payment System, with funds credited within seconds. The Post of Serbia participates indirectly via Postal Savings Bank a.d. Belgrade.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-07-03SerbiaNational Bank of Serbia

    National Bank of Serbia reports 40.1% increase in online card and e-money purchases and growth in domestic online stores in Q1 2025

    The National Bank of Serbia reported a 40.1% year-on-year increase in online payments via cards and electronic money, totaling 23.6 million transactions in Q1 2025. Dinar-denominated transactions rose 43.4% to 16.5 million, while euro payments on foreign websites increased 65% to 5.0 million. The dinar, euro, and U.S. dollar accounted for 98.2% of online payments.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-07-03BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission launches free online personal finance course for musicians with Brazilian Union of Composers support

    The Brazil Securities Commission (CVM) has launched a free online personal finance course for music industry professionals, hosted on B3’s Educational Hub. Supported by the Brazilian Union of Composers (UBC), the course covers financial planning, investment products, risks in sports betting and online casinos, and saving behaviors. The CVM plans to expand this pilot model to other professional associations.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-03BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission orders Infinite Trade LLC and partners to immediately halt public offers of securities intermediation services

    The Brazil Securities Commission (CVM) has ordered Infinite Trade LLC and its partners to halt public offerings of securities intermediation services, citing unauthorized solicitation of Brazilian clients. The CVM identified the use of the pocketoption.com website by Infinite Trade LLC, APN Pay Ltda., and Anderson Permanhani do Nascimento to attract clients. The suspension was enforced through Declaratory Act CVM 23,561.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-07-03BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission establishes the FÁCIL simplified regime for issuers with revenue below BRL 500 million

    The Brazil Securities Commission (CVM) issued Resolutions 231 and 232, establishing the FÁCIL regime, a simplified framework for issuer registration and public offerings for Companhias de Menor Porte (CMP) with annual revenue below BRL 500 million. Key features include a "direct offering" process, reduced disclosure requirements, and exemptions from certain financial reporting and voting rules. Effective 2 January 2026, the resolutions allow existing issuers to opt into the regime and provide flexibility for capital raising and compliance.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-07-03BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission issues guidance on registration and ongoing obligations for investment crowdfunding platforms under CVM Resolution 88

    The Brazil Securities Commission (CVM) issued Circular Letter CVM/SSE 4/2025 to guide electronic investment crowdfunding platforms on compliance with CVM Resolution 88, focusing on registration and supervisory processes. The circular outlines the new platform registration system, required documentation, and procedures for ownership control and reporting. It also details access protocols to CVM systems and available support channels.

    Policy & regulationGuidance & interpretationLicensing framework and process
  • 2025-07-03BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission orders Falcon Ltd to immediately halt public offers of securities intermediation services via SeguroFX

    The Brazil Securities Commission (CVM) ordered Falcon Ltd to suspend public offerings of securities intermediation services, citing unauthorized activities. CVM's Market and Intermediaries Superintendence found Falcon Ltd, via the SeguroFX platform, was targeting Brazilian residents for securities transactions without authorization.

    SupervisionInterventionsUnlicensed or unauthorized activity
  • 2025-07-03PolandMinistry of Finance (Poland)

    Poland's Ministry of Finance secures government approval for deregulation bills on tax audit interest, electronic complaints, compulsory insurance and investment fund unit mergers

    Poland's Ministry of Finance announced the Council of Ministers' adoption of draft deregulation laws affecting tax administration and financial-market regulation. Key measures include limiting late-payment interest during extended audits, simplifying corporate income tax exemptions for holding companies, and modernizing complaint-handling with electronic processes. Changes also address insurance termination rules and relax conditions for merging investment fund units.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-07-03BahrainCentral Bank of Bahrain

    Central Bank of Bahrain reports 16 new financial institution licences granted and 52 applications in progress

    The Central Bank of Bahrain reported increased licensing activity, approving 16 new financial firms and processing 52 applications from early 2024 to mid-2025. The 68 applications cover wholesale banking, payments, investment services, insurance, and crypto-asset services, with nearly 75% from international applicants. The bank's unified regulatory model provides a single contact point for licensees to streamline compliance and oversight.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-07-03TongaNational Reserve Bank of Tonga

    National Reserve Bank of Tonga to seek appeal after Supreme Court refuses bid to strike out Anti-Corruption Commission claim

    The National Reserve Bank of Tonga's application to strike out the Anti-Corruption Commission's statement of claim was refused by the Supreme Court, which questioned the Commission's powers under the Anti-Corruption Commissioner Act. The bank plans to appeal the decision, which involves a judicial review of its $5,000 staff award for its 35th anniversary.

    EnforcementInvestigations & enforcement actionsOther
  • 2025-07-03PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission outlines ease-of-doing-business and capital market reform priorities including digital tracking and fee cuts

    The Philippine SEC and Department of Finance are advancing reforms to improve business ease and deepen the capital market, as discussed with Finance Secretary Ralph G. Recto. SEC Chairperson Francis Ed. Lim's programme includes streamlining processes, reducing costs, market development, reviewing fee schedules, and enhancing enforcement against illegal lending. The agenda also covers implementing the Capital Markets Efficiency Promotion Act, revising crypto-asset service rules, and developing a roadmap for alternative investment products and derivatives.

    Policy & regulationReform agendas & prioritiesLeadership change and appointments
  • 2025-07-03CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario releases Licensing and Market Conduct Enforcement Report

    The Financial Services Regulatory Authority of Ontario (FSRA) released its Licensing and Market Conduct Enforcement Report, detailing oversight and enforcement outcomes. The report aims to enhance consumer confidence by ensuring professionals are licensed and addressing misconduct through compliance measures like educational courses, fines, and enforcement actions. FSRA emphasizes its commitment to protecting consumers, maintaining market integrity, and deterring fraud.

    EnforcementEnforcement statisticsLicensing and supervisory feesSupervision process and methodologies
  • 2025-07-03CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario reports Ontario credit union assets rose to $99.61 billion in Q4 2024

    The Financial Services Regulatory Authority of Ontario released its Q4 2024-25 Sector Outlook report, highlighting a rise in total assets to $99.61 billion for Ontario's credit union sector. Residential mortgage loans grew by 1.02% year over year, while commercial loans and cash investments increased by 5.66% and 9.44%, respectively. Profitability improved slightly, with a return on average assets of 24 basis points, despite a rise in residential mortgage delinquency rates to 0.87%.

    SupervisionRisk monitoring & watch pointsAsset quality
  • 2025-07-03United KingdomPrudential Regulation Authority

    Prudential Regulation Authority finalises capital buffers framework updates including a new policy approach to G-SII identification and buffers

    The Prudential Regulation Authority (PRA) has finalized its policy on UK capital buffers, enhancing clarity by shifting materials from legislation to PRA policy. It includes a new statement on global systemically important institutions (G-SIIs), updates for other systemically important institutions (O-SIIs), and changes to the PRA Rulebook for CRR firms. Effective 31 July 2025, these updates apply to PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and relevant subsidiaries, excluding credit unions.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-07-03GlobalIslamic Financial Services Board

    Islamic Financial Services Board stability forum calls for structural reforms including deeper local currency sukuk markets

    The Islamic Financial Services Board (IFSB) held its 23rd Islamic Financial Stability Forum in Rabat, Morocco, presenting the Islamic Financial Services Industry Stability Report 2025. The report highlighted the industry's growth and structural gaps, particularly in non-bank segments, and called for reforms to enhance resilience. Priorities include developing local currency sukuk markets, expanding the investor base, and improving legal, regulatory, and market infrastructure for Islamic insurance and funds.

    Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
  • 2025-07-03United KingdomPrudential Regulation Authority

    Prudential Regulation Authority publishes UK approach to identifying G-SIIs and setting 1.0%–3.5% CET1 G-SII buffers

    The Prudential Regulation Authority (PRA) has issued a policy statement on UK Global Systemically Important Institutions (G-SIIs) buffers, aligned with the Basel Committee framework. Effective 31 July 2025, it applies to PRA-authorised UK banks, building societies, and investment firms, requiring G-SII buffers to be met with Common Equity Tier 1 capital. Identification follows an annual BCBS indicator-based scoring methodology, with buffer rates from 1.0% to 3.5% of risk-weighted assets.

    Policy & regulationRules & requirementsFinancial stability and systemic riskPrudential risks
  • 2025-07-03ThailandThailand Securities & Exchange Commission

    Thailand Securities and Exchange Commission appoints three governors to the Stock Exchange of Thailand board from 5 August 2025

    The Thailand Securities and Exchange Commission has appointed three governors to the Board of the Stock Exchange of Thailand, including the reappointment of Professor Kitipong Urapeepatanapong and new appointments Ms. Penchun Jarikasem and Mr. Somchai Lertsutiwong. Their three-year term begins on 5 August 2025, as Professor Dr. Kittipong Kittayarak and Miss Sopawadee Lertmanaschai complete their terms.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-07-03JerseyFinancial Services Unit (Jersey)

    Jersey's Financial Services Unit schedules 23 July conference to update on financial services competitiveness programme

    Jersey’s Financial Services Unit will present the Government-led Financial Services Competitiveness Programme at a public conference on 23 July 2025. The programme aims to identify growth areas for Jersey’s financial sector, with Deputy Ian Gorst outlining progress and future plans. Sessions will address tax, regulatory improvements, and global trends impacting international finance centres.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-07-03GlobalISDA

    International Swaps and Derivatives Association and Ant International publish Project Guardian report on tokenised bank liabilities and shared ledgers for FX settlement and cross-border payments

    The International Swaps and Derivatives Association (ISDA) and Ant International, under the Monetary Authority of Singapore’s Project Guardian, released a report on implementing tokenised bank liabilities and shared ledger infrastructure for cross-border payments and foreign exchange settlement. It outlines design principles, risk management frameworks, and potential cost savings, with plans to expand applications to integrate with existing banking systems and support other digital assets.

    Policy & regulationImplementation, projects & pilotsCross-border paymentsTokenization
  • 2025-07-03CanadaFinancial Transactions and Reports Analysis Centre of Canada

    Financial Transactions and Reports Analysis Centre of Canada imposes CAD 544,500 administrative monetary penalty on Canaccord Genuity for AML reporting and compliance regime failures

    The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 544,500 penalty on Canaccord Genuity Corp. for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included failure to report suspicious transactions and inadequate compliance policies. FINTRAC aims to encourage compliance changes, having issued 12 violation notices totaling CAD 26,115,999.50 in 2023–24.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-07-03United KingdomHM Treasury

    HM Treasury releases Financial Services Compensation Scheme 2024/25 report showing GBP 327m compensation paid and GBP 56.2m recoveries

    HM Treasury published the FSCS Annual Report for 2024/25, detailing GBP 327 million in compensation to 32,634 customers and GBP 56.2 million recovered from failed firms. The report highlights a transition to a new claims service model and ongoing development of a five-year strategy for 2026–31. FSCS is also preparing for a consultation outcome on increasing the deposit protection limit from GBP 85,000 to GBP 110,000.

    Data & statisticsFinancial stability and systemic riskConsumer and investor protection
  • 2025-07-03United KingdomHM Treasury

    HM Treasury publishes near-final draft instrument to simplify the Ancillary Activities Exemption and give the FCA power to set a new test and annual threshold

    HM Treasury released a near-final draft statutory instrument and policy note to amend the UK’s Ancillary Activities Exemption for commodity derivatives and emissions allowances trading. The amendment introduces two exemption routes: demonstrating ancillary activity to the main business or meeting an FCA-set annual threshold. The Financial Conduct Authority will gain rulemaking powers to specify criteria and set thresholds, with the new regime effective from 1 January 2027.

    Policy & regulationRules & requirementsOther
  • 2025-07-03United KingdomHM Treasury

    UK's HM Treasury and the Monetary Authority of Singapore set out deeper cooperation on tokenisation, AI and sustainable finance at the 10th Financial Dialogue

    HM Treasury and the Monetary Authority of Singapore issued a joint statement from the 10th UK-Singapore Financial Dialogue, highlighting collaboration in digital finance, sustainable finance, capital markets, and international regulatory developments. Key initiatives include joint efforts on asset tokenisation, AI innovation, sustainable finance frameworks, and capital market reforms. The dialogue addressed international regulatory priorities, with the UK reaffirming Basel III commitments and Singapore confirming full implementation.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-07-03United StatesU.S. Financial Services Committee

    U.S. House Committee on Financial Services sets Crypto Week for House floor action on CLARITY, GENIUS and Anti-CBDC bills

    The U.S. House Committees on Financial Services and Agriculture have designated the week of 14 July as Crypto Week to consider the CLARITY Act, Anti-CBDC Surveillance State Act, and Senate’s GENIUS Act. These bills aim to clarify digital asset regulations, set stablecoin rules, and block a U.S. central bank digital currency. The committees have reported the CLARITY Act and Anti-CBDC Surveillance State Act to the full House, planning to advance them to the Senate and President.

    Policy & regulationRules & requirementsCBDC
  • 2025-07-03United StatesU.S. Financial Services Committee

    U.S. House Committee on Financial Services Chairman Hill praises House passage of the Senate-amended One Big Beautiful Bill Act

    The U.S. House Committee on Financial Services Chairman French Hill welcomed the House's passage of the Senate amendment to H.R. 1, the One Big Beautiful Bill Act. Hill emphasized the bill's role in promoting fiscal responsibility and highlighted the Committee's contributions to spending reductions.

    Policy & regulationRules & requirements
  • 2025-07-03RussiaCentral Bank of Russia

    Central Bank of Russia publishes June 2025 monitoring showing top 10 banks’ maximum ruble deposit rates falling to 18.32%

    The Central Bank of Russia reported a decline in average maximum interest rates on Russian ruble deposits at the 10 largest credit institutions, from 18.87% in early June 2025 to 18.32% by month's end. The rates, calculated as an arithmetic mean, exclude special client categories and products with additional conditions. Average maximum rates by maturity were 17.34% for up to 90 days, 17.85% for 91–180 days, 17.41% for 181 days to one year, and 15.76% for over one year.

    Data & statisticsFinancial and market indicators
  • 2025-07-03United StatesFederal Deposit Insurance Corporation

    Federal Deposit Insurance Corporation publishes 2024 Consumer Compliance Supervisory Highlights on violations and complaint trends

    The Federal Deposit Insurance Corporation released its annual Consumer Compliance Supervisory Highlights, detailing consumer compliance issues identified in 2024 among state non-member banks and thrifts. The report covers compliance performance, frequently cited violations, and trends in consumer complaints for all FDIC-supervised institutions.

    SupervisionReviews, inspections & stress testsConsumer and investor protection
  • 2025-07-03ChileCentral Bank of Chile

    Central Bank of Chile publishes EDEP survey showing firms’ 12- and 24-month inflation expectations steady at 4%

    The Central Bank of Chile's Survey of Price Determinants and Expectations shows slight easing in cost pressures and stable inflation expectations at 4% for 12- and 24-month horizons. Profit margins have risen since late 2024, while sales levels and input availability remain neutral. The survey indicates reduced exchange rate influence and fewer firms expecting higher input costs or selling prices next year.

    Data & statisticsEconomic data and developments
  • 2025-07-03United StatesFederal Deposit Insurance Corporation

    Federal Deposit Insurance Corporation publishes April 2025 Community Reinvestment Act examination ratings for state nonmember banks

    The Federal Deposit Insurance Corporation (FDIC) released its list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA), detailing ratings assigned in April 2025. The CRA mandates the FDIC to assess banks' efforts in meeting community credit needs, including those of low- and moderate-income neighborhoods. Public disclosure of CRA evaluations and ratings is required under the Financial Institutions Reform, Recovery, and Enforcement Act.

    Policy & regulationImplementation, projects & pilotsCompliance
  • 2025-07-03CanadaCanadian Securities Administrators

    Canadian Securities Administrators issue guidance flagging misleading disclosure and inflated valuations in certain asset or business acquisitions

    The Canadian Securities Administrators issued guidance on concerns about asset or business acquisitions in venture markets, where issuers may issue securities for assets with little value or history at inflated prices. CSA Staff Notice 51-366 warns of risks like misleading disclosures, unsupported valuations, and promotional campaigns, emphasizing these practices could constitute market manipulation. The guidance does not introduce new requirements but indicates ongoing regulatory scrutiny for such acquisitions.

    Policy & regulationGuidance & interpretationDisclosures
  • 2025-07-03MoldovaNational Commission for Financial Markets

    Moldova's National Commission for Financial Markets launches Green Credit inspection and plans court action to void OTP Bank consumer loan clauses

    Moldova's National Commission for Financial Markets (CNPF) adopted consumer-protection and capital-market decisions, including inspecting non-bank lender GREEN CREDIT SRL and legal action against OTP Bank SA for breaching consumer credit rules. The CNPF recorded a share issue by Construction Enterprise EDIFICIU SA, removed securities from the issuers register for two companies, and authorised a reorganisation for BAZA DE TRANSPORT AUTO-12 EDINET. Additionally, CNPF rejected TOPAZ SA's complaint regarding administrative proceedings.

    SupervisionReviews, inspections & stress testsConsumer and investor protectionSupervision process and methodologies
  • 2025-07-03ChileChile Financial Market Commission

    Chile Financial Market Commission consults on changes to Disability and Survivors’ Insurance technical reserve methodology

    The Chile Financial Market Commission is consulting on amendments to General Rule No. 243, which governs technical reserves for Disability and Survivors’ Insurance. The proposed changes aim to enhance reserve calculation methods, align with international standards like IFRS and Solvency II, and improve consistency in reserve models and premium sufficiency tests.

    Policy & regulationRules & requirementsAccounting and financial reporting
  • 2025-07-03VietnamState Bank of Vietnam

    State Bank of Vietnam convenes workshop to roll out Decree 94 controlled testing mechanism for fintech in banking

    The State Bank of Vietnam (SBV) held a workshop in Da Nang to implement Decree 94/2025/ND-CP, establishing a controlled testing mechanism for banking solutions. Supported by the Swiss State Secretariat for Economic Affairs and managed by the Asian Development Bank, the session clarified the decree's requirements and enhanced understanding of the legal framework for fintech trials. SBV emphasized the decree's role in piloting fintech solutions under supervision and highlighted ongoing digitalization efforts in banking.

    Policy & regulationGuidance & interpretationFintech and insurtech
  • 2025-07-03EuropeEuropean Central Bank - Banking Supervision

    European Central Bank Banking Supervision and the European Anti-Money Laundering Authority sign cooperation agreement for information sharing and coordinated supervision

    The European Central Bank Banking Supervision and the Authority for Anti-Money Laundering and Countering the Financing of Terrorism have signed a Memorandum of Understanding to enhance cooperation and information exchange, aiming to strengthen supervisory effectiveness and prevent duplication. The agreement includes collaboration on policies, supervisory standards, and coordinated measures on internal controls, governance, and sanctions. This fulfills Article 92(3) of the AMLA Regulation and aligns with the EU anti-money laundering package.

    SupervisionCooperationCross-border cooperation
  • 2025-07-03ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission backs Junior Achievement student investment simulation under its financial education programme

    The Argentina Securities Commission (CNV) participated in the student "Rueda de capitalización" at the Buenos Aires Grain Exchange, part of its financial education programme. Students aged 15 to 18 presented entrepreneurship projects and engaged in an investment-fair simulation to raise initial capital. CNV Vice President Sonia Salvatierra highlighted the initiative's role in preparing youth for informed decision-making in capital markets.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-03GlobalFinancial Standards Planning Board

    Financial Planning Standards Board schedules World Financial Planning Day for 8 October 2025 alongside IOSCO World Investor Week

    Financial Planning Standards Board Ltd. announced the ninth annual World Financial Planning Day on 8 October 2025, coinciding with the International Organization of Securities Commissions’ World Investor Week. The campaign will involve over 230,000 CERTIFIED FINANCIAL PLANNER professionals globally, with events and programs to be detailed on the WFPD website in September.

    Financial literacy & educationFinancial literacy and education
  • 2025-07-03SwitzerlandSwiss Financial Market Supervisory Authority (FINMA)

    Swiss Financial Market Supervisory Authority launches consultation on new ordinances replacing three bank circulars on risk diversification and liquidity

    The Swiss Financial Market Supervisory Authority (FINMA) has initiated a consultation on two new ordinances for banks and securities firms, focusing on risk diversification and liquidity. These ordinances aim to replace three existing FINMA circulars, aligning requirements with the Financial Market Supervision Act. Changes include updates to risk diversification under Basel III standards and technical provisions for liquidity, with limited new regulatory content expected.

    Policy & regulationRules & requirementsPrudential risksRegulatory burden
  • 2025-07-03AustraliaAustralian Competition and Consumer Commission

    Australian Competition and Consumer Commission proposes 18-month authorisation for payments industry coordination on the future of account-to-account infrastructure

    The ACCC issued a draft determination proposing conditional authorisation for collaboration among Australian Payments Network Limited, Australian Payments Plus Limited, and others to develop a common vision for Australia's account-to-account payments infrastructure. The authorisation covers vision-setting and alignment discussions only, with submissions due by 18 July 2025, and interim authorisation granted on 1 May 2025 remains in place.

    SupervisionAuthorisations & approvalsPayments and payment systems
  • 2025-07-03BangladeshBangladesh Securities & Exchange Commission

    Bangladesh Securities and Exchange Commission requires brokers to transfer 25% of consolidated customers’ account interest to Investors’ Protection Fund and report deposits

    The Bangladesh Securities and Exchange Commission amended the Securities and Exchange Rules, 2020, mandating stock-brokers and stock-dealers to deposit 25% of interest earned from consolidated customers’ accounts into the Investors’ Protection Fund semi-annually. The amendment also introduces a reporting requirement to stock exchanges and the Commission, effective immediately.

    Policy & regulationRules & requirementsOther
  • 2025-07-03ArgentinaCentral Bank of Argentina

    Central Bank of Argentina releases ADEBA update on provincial Gross Receipts Tax treatment for financial institutions

    The Central Bank of Argentina released data from the Argentine Banks Association on the Gross Receipts Tax for financial institutions, highlighting provincial variations in rates and bases. Since 2004, most provinces have broadened the tax base, increasing the tax burden, except San Luis and Santiago del Estero, which maintain the previous "spread" base. The report also notes increased rates and the inclusion of government securities and mortgage loans in the taxable base, raising concerns about public credit and home lending costs.

    Data & statisticsRegulatory reporting
  • 2025-07-03MoldovaNational Bank of Moldova

    National Bank of Moldova publishes unaudited March 2025 balance sheet reporting MDL 116,607,863 thousand in assets

    The National Bank of Moldova released its unaudited financial statement as of 31 March 2025, showing total assets of 116.6 billion MDL and liabilities of 107.1 billion MDL. Capital and reserves amounted to 9.5 billion MDL, with a profit available for distribution of 645.8 million MDL. Comparative figures for 31 December 2024 were also provided, with assets at 121.7 billion MDL and liabilities at 112.3 billion MDL.

    Data & statisticsAccounting and financial reporting