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2025-07-03•Moldova•National Bank of Moldova
The National Bank of Moldova reported a net loss of MDL 35,252 thousand and total comprehensive income of MDL 92,735 thousand for the three months ended 31 March 2025. Interest income was primarily driven by MDL 753,135 thousand from securities, while total interest expenses amounted to MDL 364,795 thousand. Profit available for distribution was MDL 645,762 thousand, adjusted by foreign currency holdings and unrealised income allocations.
Data & statisticsAccounting and financial reporting
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2025-07-03•Denmark•National Bank of Denmark
The National Bank of Denmark reports that Danish insurance companies and pension funds have increased currency hedging of their US dollar investments to 73.5% from 61.8% since early 2025, amid a weaker dollar. By end-May 2025, US dollar investments totalled approximately DKK 1,431 billion, with hedging reducing potential currency losses by about DKK 80 billion. Despite this, year-to-date investment returns show a loss of DKK 4 billion, mainly due to negative exchange rate adjustments.
Data & statisticsForeign exchange policy and markets
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2025-07-03•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission has finalized draft amendments to Articles 31 and 35 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, easing reporting requirements for large companies. The amendments raise the reporting threshold for non-related-party transactions involving equipment and fixed-income investments to exceed 5% of paid-in capital. These changes will be effective upon promulgation.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-03•Europe•European Insurance and Occupational Pensions Authority
The European Supervisory Authorities, including the European Insurance and Occupational Pensions Authority, have signed a multilateral Memorandum of Understanding with the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism. This MoU outlines cooperation and information exchange to enhance supervisory convergence and cross-sectoral learning across the EU financial sector, fulfilling AMLA's regulatory requirement to establish a cooperation framework with the ESAs.
Policy & regulationCooperationCross-border cooperation
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2025-07-03•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released its 2024 oversight report detailing efforts to enhance supervisory capacity and convergence across the EU, focusing on prudential and conduct issues in cross-border business. EIOPA conducted 12 on-site visits, participated in 41 EU/EEA supervisory colleges, and coordinated seven collaboration platforms. Key activities included internal model oversight, conduct risk assessments, and monitoring consumer trends within frameworks like Solvency II and the Insurance Distribution Directive.
SupervisionCooperationSupervision process and methodologies
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2025-07-03•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released technical information on risk-free interest rate (RFR) term structures as of June 2025, aiding Solvency II calculations for (re)insurance obligations. This monthly publication ensures consistent technical provision calculations across Europe. The data is accessible on EIOPA's website, along with the 2025 release calendar and related resources.
Policy & regulationGuidance & interpretationFinancial and market indicators
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2025-07-03•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority released the Solvency II technical information for calculating the symmetric adjustment to the equity capital charge as of end-June 2025. This follows the framework outlined in Article 106 of the Solvency II Directive and Article 172 of the Solvency II Delegated Regulation.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-03•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago’s Ministry of Finance announced Finance Minister Davendranath Tancoo's participation in events in Seville, Spain, as Chairman of the Development Bank of Latin America and the Caribbean (CAF). At CAF’s 185th Board meeting, USD 5.2 billion was approved for 16 operations across 10 countries, including a USD 100 million loan to the Bahamas for energy reform and Barbados’ transition to full CAF membership. Discussions also covered a roadmap for the EU–Latin America and the Caribbean Global Gateway Investment Agenda and a EUR 3 million digital transformation programme for Trinidad and Tobago.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-07-03•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre (DIFC) and the Dubai Land Department have launched the Dubai PropTech Hub, the region's first dedicated PropTech innovation hub, to foster AI, blockchain, and Web3 solutions in real estate. The hub aims to support over 200 PropTech start-ups and scale-ups, create more than 3,000 jobs, and attract over USD 300 million in investment by 2030. It offers licensing options, workspaces, and support programmes, aligning with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-07-03•Barbados•Central Bank of Barbados
The Central Bank of Barbados and the Financial Services Commission launched the 2024 Financial Stability Report, assessing the soundness of Barbados' financial system. The report, discussed at a roundtable, highlighted stress test results and three key risks to financial stability. Participants included senior officials from the Central Bank, FSC, and major financial institutions.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskStress testing
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2025-07-02•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission hosted an award ceremony for its "CMC and Universities" scientific competition, aimed at promoting academic research and financial literacy. The Catholic University of Angola secured first place, receiving a cash prize and an internship. The Commission noted a 14% increase in submissions and recommended continuing the competition to enhance financial education and university-regulator ties.
Financial literacy & educationFinancial literacy and education
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2025-07-02•Thailand•Thailand Securities & Exchange Commission
Thailand's Securities and Exchange Commission has updated regulations for investment analyst refresher courses, effective 1 July 2025, to better align with their roles. The new rules separate renewal criteria for investment analysts from consultants and planners, specifying curriculum requirements including ESG knowledge. The Stock Exchange of Thailand will define and approve training standards, with transitional provisions for those under prior criteria.
Policy & regulationRules & requirements
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2025-07-02•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay has issued a warning about fraudulent investment and credit offers using forged documents with the Bank's logo to falsely imply official authorization. The Bank highlighted red flags such as requests for upfront payments, unusually favorable credit terms, and unregistered financial advice. It reminded the public that acting as an Investment Adviser requires a specific license under Law No. 18,627.
SupervisionAlertsFraud and scams
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2025-07-02•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group (EFRAG) Sustainability Reporting Board has extended its public consultation on the Exposure Drafts for revising the European Sustainability Reporting Standards (ESRS) to 60 days, from late July to late September 2025. This extension follows a request from EU Commissioner Albuquerque, shifting the deadline for EFRAG's technical advice to the European Commission from 31 October to 30 November. EFRAG will conduct outreach events in late September and early October before submitting its advice.
Policy & regulationInternational standards & recommendationsAccounting and financial reporting
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2025-07-02•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic reported foreign direct investment reached USD 1,329 million in Q1 2025 and is projected to exceed USD 4,700 million by year-end, supporting exchange-rate stability and international reserves. The May economic activity indicator expanded 3.1% year-on-year, with GDP growth forecasted at 3.5% to 4.0% for 2025. Remittances and exports rose significantly, contributing to a current account deficit below 3% of GDP, fully covered by foreign direct investment.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-07-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released preliminary Q1 2025 external statistics, showing a widened current account deficit of EUR 1,207.8 million and increased net liabilities in the international investment position. Gross and net external debt decreased from the previous quarter, with gross external debt at EUR 243,398.8 million and net external debt reduced by EUR 1,391.9 million. Adjustments for special purpose entities indicate a slightly narrower current account deficit and different debt figures.
Data & statisticsBalance of payments and other external statistics
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2025-07-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its House Price Index report for Q1 2025, detailing real estate market developments and indicator results. The report and related time series are accessible on the Central Bank's website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-02•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has approved Al Ashghal Almoysra Company's capital increase from SAR 24 million to SAR 48 million through the issuance of bonus shares. This will involve issuing one bonus share for each existing share, funded by transferring SAR 24 million from retained earnings. The company is required to hold an extraordinary general assembly within six months to comply with regulatory requirements.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-02•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has been informed by Team One Company of its name change to Team One Capital.
SupervisionRegulatory reportingMandate change
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2025-07-02•Denmark•Danish Finanstilsynet
Henrik Brarup Damgaard is the new head of the Investor Protection Office at the Danish Financial Supervisory Authority, transitioning from his previous role overseeing ESG matters. Damgaard joined in 2021 and has led the Capital Markets Analysis and Sustainability Offices. The Investor Protection Office oversees investment firms, investment associations (UCITS), investment management companies, and managers of alternative investment funds (AIFMs).
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has begun evaluating Module Nineteen (Financial Technologies) under the Executive Bylaws of Law No. 7 of 2010. This phase assesses the regulatory framework's effectiveness for securities-based fintech services and identifies potential improvements. After the evaluation, the Authority will reopen applications for its Securities-Based Financial Technologies Register with updated instructions.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-07-02•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) completed a supervisory action with national authorities on investment firms' pre-trade controls under the Markets in Financial Instruments Directive II. Findings revealed varied implementation and governance practices, despite widespread integration into trading and risk management. ESMA plans to publish guidance to promote consistent approaches across EU firms.
SupervisionReviews, inspections & stress testsTradingSupervision process and methodologies
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2025-07-02•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority reprimanded Century Investment Planning Limited for failing to segregate client funds and fined another broker $12,000 for inadequate professional indemnity insurance. Century Investment misused client funds and delayed premium payments, breaching guidelines. The second broker miscalculated insurance coverage, resulting in an $11.8 million shortfall, but no harm to policyholders was noted.
EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
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2025-07-02•Panama•Panama Superintendencia del Mercado de Valores
Panama's Superintendency of the Securities Market reminded Casas de Valores to pay the supervision fee for 2025 based on Q2 activity within 30 days in July. Payments can be made via certified cheque or bank transfer, with coordination required for transfers. The notice references Laws 67 of 2011, 66 of 2016, Agreement 11-2013, and Resolution SMV-63-2021.
SupervisionOtherLicensing and supervisory fees
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2025-07-02•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission joined the Angolan Banks Association’s third Conference on Sustainability in Banking, highlighting sustainable finance and the need for a climate and social taxonomy for Angola. Discussions focused on the financial system's role in mobilizing resources for green projects and the importance of public policy and coordination to support the Sustainable Development Goals. Panelists included representatives from the National Bank of Angola, the United Nations Development Programme, and various banks.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-02•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced that Mr. Neermal Saddul has surrendered his Representative of Investment Adviser (Unrestricted) licence for AURIS GESTION (MAURICE) LTEE, effective 27 December 2024. This action complies with sections 28(5) and 28(9) of the Financial Services Act.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-02•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced that AURIS GESTION (MAURICE) LTEE has surrendered its Investment Adviser (Unrestricted) Licence No. IX20000078. The licence termination is effective from 27 December 2024, as per the Financial Services Act.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-02•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a list of Freedom Finance Ukraine LLC client assets eligible for the return of blocked assets, involving 19,679 individuals, 724 legal entities, and 38 investment funds. The list is under review by other authorities, with some entries pending confirmation or inspection for sanctions-related restrictions. A third regulatory act is being finalized to establish the refund process, allowing clients to apply through depository institutions and investment firms once adopted.
Policy & regulationImplementation, projects & pilotsSanctions list update
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2025-07-02•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released the 13th edition of its Market Watch, highlighting the impact of "wash trades" on price formation and trading algorithms. The AFM expects market participants to assess whether such trades generate misleading signals and report suspicious activities under the Market Abuse Regulation. Firms must file a Suspicious Transaction and Order Report (STOR) with the AFM when wash trades suggest potential market manipulation.
Policy & regulationGuidance & interpretationMarket abuse
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2025-07-02•Ireland•Central Bank of Ireland
The Central Bank of Ireland imposed a reprimand and a EUR 36,273 penalty on Swilly Mulroy Credit Union for breaching the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and the Credit Union Act 1997. The credit union bypassed anti-money laundering checks for non-account holders, processing EUR 8,751,694 in cash lodgements without scrutiny. The penalty, reduced from EUR 51,819 by a 30% settlement discount, awaits High Court confirmation.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-02•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) has partnered with the Indonesian Women's Congress (KOWANI) to enhance financial literacy among women and housewives as part of the National Strategy for Financial Literacy Indonesia 2021-2025. The initiative includes a Training of Trainers programme under OJK PEDULI, reaching 1,100 KOWANI members through hybrid sessions, covering topics like online lending, illegal investments, and financial management.
Financial literacy & educationFinancial literacy and education
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2025-07-02•Georgia•National Bank of Georgia
The National Bank of Georgia's First Vice-Governor Ekaterine Mikabadze participated in an IMF workshop for central banks in Vienna, focusing on monetary policy adjustments amid inflationary pressures. Discussions highlighted the importance of monetary policy communication and the economic impacts of uncertainty, with contributions from various central banks and institutions.
Institutional developmentCooperation & capacity buildingMonetary policy decisions and developments
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2025-07-02•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia attended the 95th Annual Meeting of the Bank for International Settlements in Basel, focusing on cross-border payment expansion and challenges in payment systems amid AI advancements. Turnava also met with European Central Bank President Christine Lagarde to discuss global financial system challenges and express gratitude for ECB support. The event included governors and senior officials from BIS member central banks and other high-level guests.
OtherCross-border cooperationPayments and payment systems
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2025-07-02•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority has introduced rules allowing shareholders of listed companies to participate in general meetings and vote remotely. The framework permits videoconference and other identification-secure communication tools, with voting carried out in real time.
Policy & regulationRules & requirementsCorporate governance
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2025-07-02•Bermuda•Ministry of Finance (Bermuda)
Bermuda’s Economic Development Department announced a Fintech Webinar on 4 July 2025, focusing on cybersecurity in fintech and related regulatory compliance. The session will feature Adrian Lodge, CEO of Bermuda Island Games, and cover best practices, case studies, and emerging trends.
Financial literacy & educationCyber resilience
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2025-07-02•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) cancelled the financial services licences of Downunder Insurance Services Ltd and Ipraxis Pty Ltd for not paying industry funding levies for over 12 months. The cancellations, effective 24 and 25 June 2025, were under section 915B(3)(e) of the Corporations Act 2001. Downunder Insurance dealt in general insurance products, while Ipraxis covered a broader range of financial products. Both firms can seek a review of ASIC's decision by the Administrative Review Tribunal.
EnforcementInvestigations & enforcement actionsCompliance
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2025-07-02•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has secured interim Federal Court orders preventing Falcon Capital Limited directors David Anderson and Simon Selimaj from leaving Australia and freezing Mr. Selimaj’s assets amid an investigation into the First Guardian Master Fund. These orders, effective until 27 February 2026, aim to ensure the directors' availability and preserve assets. This follows previous court actions, including asset freezes and the appointment of liquidators and a receiver for Falcon and related entities. ASIC is also pursuing the appointment of a receiver and manager for Mr. Selimaj’s personal property, with a case management hearing scheduled for 22 July 2025.
EnforcementInvestigations & enforcement actionsLicence withdrawal
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2025-07-02•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that the Federal Court convicted former Wealth and Risk Management director Joshua Fuoco of contempt for violating a 2018 injunction prohibiting his involvement in financial services. Fuoco's conduct, involving five companies and affecting hundreds of consumers, generated over AUD 2.2 million and was described as premeditated defiance. He received a 12-month suspended sentence and agreed never to engage in financial services or credit activities.
EnforcementInvestigations & enforcement actions
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2025-07-02•Europe•European Banking Authority
The European Banking Authority has initiated a public consultation on draft amended Guidelines under the Capital Requirements Regulation, retaining the 1% net present value loss threshold for debt restructuring. The draft also proposes extending the exceptional treatment of days past due for non-recourse factoring from 30 to 90 days. A shorter probation period for certain forborne exposures is considered but not included in the draft.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-02•Europe•European Banking Authority
The European Banking Authority has launched a public consultation on draft Guidelines for estimating credit conversion factors (CCFs) under the Capital Requirements Regulation. Part of the IRB repair programme, it aims to harmonize supervisory expectations and simplify CCF estimation approaches. The draft aligns with existing guidance on Probability of Default and Loss Given Default, seeking feedback on reducing complexity while maintaining prudence.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-02•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority acknowledged a public statement by Custodian Life Limited’s joint provisional liquidators, confirming the company has been in court-ordered provisional liquidation since 24 November 2023.
SupervisionOtherRecovery and resolution
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2025-07-02•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg CSSF has updated the procedure for internalised settlement reporting under Article 9(1) of the Central Securities Depositories Regulation. The update clarifies submission methods for quarterly reports on securities transactions settled outside a securities settlement system, detailing requirements for aggregated transaction volume and value. Reports can be submitted via the CSSF’s eDesk portal or an API solution using the S3 protocol.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-02•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released a draft regulatory standard detailing indices for updating insured amounts in home insurance for Q4 2025. The Building Index is 559.63, Household Contents Index 348.52, and Combined Contents and Buildings Index 475.18, with respective quarterly changes of -0.31%, +2.41%, and +0.47%. ASF emphasizes policyholders' responsibility to ensure appropriate insured sums, considering regional variations and asset changes.
Policy & regulationRules & requirementsOther
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2025-07-02•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority has revoked the licence of Penrich Insurance Brokers (Proprietary) Limited under the Non-Bank Financial Institutions Regulatory Authority Act, 2023, prohibiting it from providing insurance brokerage services. Penrich has 30 days to wind down operations, with clients advised to contact underwriters directly for claims and premium payments.
EnforcementInvestigations & enforcement actionsLicence withdrawal
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2025-07-02•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance, via Deputy Minister Giorgos Kotsiras, announced a customs code overhaul to modernize procedures and enhance enforcement against tax evasion and smuggling. The draft code proposes digitizing customs controls, stricter penalties, improved connectivity with enforcement bodies, extended customs hours, and mandatory instant payments via the IRIS system. The ministry projects over EUR 2 billion in 2024 revenue from anti-evasion efforts and aims to reduce the VAT gap to the EU average by 2029.
Policy & regulationRules & requirementsOther
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2025-07-02•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Funds has launched a free "SOAT/CAT and Vehicle Insurance Report" for checking a vehicle's mandatory insurance coverage and claims history. The report, accessible via the SBS website, provides five years of data on SOAT and CAT certificates, insurance policies, and claims records. This initiative supports due diligence in the buying or selling of used vehicles.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-02•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has received the final independent expert report on BUSS (Queensland) Pty Ltd, trustee for The Building Unions Superannuation Scheme (Queensland) (BUSSQ). The report, commissioned under licence conditions imposed in August 2024 and varied in March 2025, reviews BUSSQ’s fit and proper processes and expenditure management practices. BUSSQ is now required to publish the report under these conditions.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-07-02•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia reviewed its 2019 macroprudential measures for household lending, noting credit expansion with sustainable borrower risk indicators and low non-performing exposures. By April 2025, consumer and housing loans increased significantly due to economic factors, while compliance with debt-service-to-income and loan maturity limits remained within exemptions. Some banks offered products outside the measures, prompting a planned re-evaluation to assess consumer creditworthiness criteria.
SupervisionRisk monitoring & watch pointsCredit riskMacroprudential policy and tools
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2025-07-02•Philippines•Department of Finance (Philippines)
The Philippines' Capital Markets Efficiency Promotion Act (Republic Act No. 12214) has taken effect, introducing tax and market reforms to lower transaction costs and broaden participation. Key measures include reducing the Stock Transaction Tax to 0.1%, removing the Documentary Stamp Tax on mutual funds, and standardizing the tax on interest income at 20%. The Act is projected to generate over PHP 25 billion in revenues from 2025 to 2030.
Policy & regulationRules & requirementsMarket development
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2025-07-02•Australia•Reserve Bank of Australia
The Reserve Bank of Australia and the Australian Treasury support a public consultation by Australian Payments Network and Australian Payments Plus on the future of Australia's account-to-account payments system. The RBA released a paper outlining its public interest framework for evaluating the system's direction. This follows the RBA's risk assessment of decommissioning the Bulk Electronic Clearing System, emphasizing access, cost-effectiveness, reliability, safety, governance, infrastructure resilience, and competition.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-07-02•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released the final Application Paper on AI supervision, detailing how supervisors should apply Insurance Core Principles to insurers' AI use. The paper emphasizes governance, accountability, and risk-based supervision, maintaining existing conduct expectations. Consultation feedback and IAIS responses are also available.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-07-02•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors' Executive Committee has set principles for developing the methodology to assess the Insurance Capital Standard (ICS) implementation. Adopted in December 2024, the ICS is a globally comparable, risk-based group capital standard for internationally active insurance groups. These principles will guide the ICS implementation assessment methodology, with jurisdictional assessments starting in 2027 and a self-assessment questionnaire in 2026.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-02•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission awarded two annual student prizes totaling EUR 1,000 as part of its financial literacy initiative. The awards, in memory of CySEC’s first Chairman, Frixos Sorokkos, were presented to Myria Pornari and Loukas Philippou at their respective university graduation ceremonies.
Financial literacy & educationFinancial literacy and education
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2025-07-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has approved senior appointments in the insurance sector, including A.O. Aldambergen as a governing body member and independent director. The agency clarified that under Kazakhstan’s Law on Insurance Activity, senior executives can transfer within the sector without additional consent if they meet qualification requirements.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Kanat Sagynaev's appointment to the board of directors of JSC Alatau City Bank.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-02•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance released a draft bill for a new Act on the Prevention of Money Laundering and Terrorist Financing to align with the EU's framework. The proposal includes establishing the EU Anti-Money Laundering Authority and implementing the Sixth Anti-Money Laundering Directive, with most provisions effective on 10 July 2027. The reform aims to enhance compliance with Financial Action Task Force recommendations and improve regulatory effectiveness and consistency.
Policy & regulationRules & requirementsAML and CFT
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2025-07-02•Türkiye•Banking Regulation and Supervision Agency
Turkey's Banking Regulation and Supervision Agency released its Banking Sector Monthly Bulletin for May 2025, detailing financial data submitted by institutions under the Banking Law. The bulletin aims to enhance transparency and public awareness.
Data & statisticsSupervisory data
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2025-07-02•Qatar•Qatar Central Bank
The Qatar Central Bank appointed Sheikh bin Hamad bin Mubarak Al Thani as Acting Head of the Financial Information Unit, effective immediately, as per Decision No. 1 of 2025 issued by Governor H.E. Sheikh Bandar bin Saoud Al Thani.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) and the Thailand Development Research Institute are drafting a strategic plan for Private Voluntary Health Insurance (PVHI). The project aims to strengthen private health insurance and improve access for lower-income households, with a short-term strategy and a long-term roadmap for integration with public welfare. A working group of public and private stakeholders has been established to support implementation, with its first meeting on 17 June 2025.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-02•Middle East•Union of Arab Securities Authorities
The Union of Arab Securities Authorities published guiding principles for Sharia-compliant sukuk issuance and listing in Arab capital markets to support Islamic capital market development and align regulatory approaches across member countries. Developed by a working group, the framework covers regulatory, supervisory, governance, investor protection, and market innovation aspects to enhance transparency and support cross-border investment and Arab market integration.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-07-02•Middle East•Union of Arab Securities Authorities
The Union of Arab Securities Authorities published a study under its 2021–2025 Strategic Plan outlining best practices for promoting financial inclusion in Arab capital markets. Prepared by a Board-mandated working group, it offers core concepts, guiding principles, and tools to enhance access for underserved segments, emphasizing financial technology's role and aiming to support legislative alignment and cross-border market integration.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-07-02•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan granted Moor Stephens LLC a licence to audit credit institutions. This decision is based on the Law on the Licensing System and the regulation on licensing certain activities.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-07-02•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the Islamic Financial Services Board discussed enhancing cooperation to advance Islamic finance in Tajikistan, focusing on implementing IFSB standards and developing a regulatory framework for sukuk issuance. Talks included access to resources and training for Islamic finance staff, with support for studying international practices in takaful, sukuk, and Islamic financial technology. The National Bank, an IFSB member since 2010, regulates banking and insurance, including takaful.
Policy & regulationCooperationOther
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2025-07-02•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) mandates associations in mutual property protection register by 15 July 2025 under Complementary Law No. 213/2025. Over 600 associations have registered since April 2025, requiring bylaw amendments to comply with SUSEP Resolution No. 49/2025. SUSEP clarified only associations can provide mutual property protection, and non-compliant entities must cease activities or face liability.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-07-02•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Deliberation CVM 899, ordering Nexx Focus Capital A Ltda. to cease marketing or offering securities portfolio management services in Brazil, as the firm is not authorised by the CVM. Non-compliance may result in a daily fine of BRL 100,000 and potential sanctions under Article 11 of Law 6,385.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-02•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) accepted a settlement with Daniella de Souza Guanabara Santos, investor relations director of Allos S.A., involving a payment of BRL 470,000. This resolves an administrative proceeding over alleged failure to timely disclose material information about negotiations to acquire a shopping centre, linked to unusual trading activity in April 2024. The Settlement Committee recommended the agreement, and the Federal Specialized Attorney’s Office at the CVM found it legally permissible.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-07-02•Albania•Albania Financial Services Authority
The Albania Financial Services Authority, with the German Agency for International Cooperation, held a workshop to support Albania's EU accession negotiations under Chapter 9 on Financial Services. The focus was on aligning Albania's legal and regulatory framework with the EU acquis. Participants emphasized the importance of coordination, inter-institutional cooperation, and capacity building in meeting Chapter 9 obligations.
Policy & regulationCooperationCapacity building
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2025-07-02•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice amending designation details for two individuals and one entity under the UK's Russia sanctions regime. The asset freeze and trust services sanctions remain in effect in Guernsey, and firms must freeze any funds or resources linked to designated persons and report findings to the States of Guernsey Policy and Resources Committee. Compliance with statutory reporting requirements and Handbook Rule 12.37 is mandatory for affected relationships.
Policy & regulationRules & requirementsSanctions list update
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2025-07-02•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has launched a physical Public Assistance and Complaints Desk at its Makati City headquarters to handle on-site inquiries and provide prompt responses. This initiative aligns with Anti-Red Tape Authority standards and Republic Act No. 11032, ensuring continuous operation and special lanes for senior citizens, pregnant women, and persons with disabilities.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-02•Global•United Nations Environment Programme Finance Initiative
The UNEP FI launched "Underwriting the Transition," a global guide to help insurers, reinsurers, and brokers develop credible transition plans for underwriting portfolios. Presented at the FIT Transition Insurance Summit, it addresses gaps in existing guidance and supports evolving sustainability disclosure expectations. It is the second deliverable of the FIT Transition Plan Project, with a third scheduled for release at the 2025 UN Climate Conference in Belém, Brazil.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-02•Global•World Federation of Exchanges
The World Federation of Exchanges' 11th Annual Sustainability Survey reveals increased sustainability initiatives among exchanges, with an average of 10.5 initiatives per exchange and 82% offering sustainability-related products. Key drivers include investor demand and regulatory pressure, while challenges involve data reliability and resourcing, with notable engagement in UN Sustainable Development Goals and gender equality efforts.
Data & statisticsESG
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2025-07-02•Global•Islamic Financial Services Board
The Islamic Financial Services Board concluded its 2025 Annual Meetings in Rabat, setting priorities under the Strategic Plan 2025–2027 and approving new standards to enhance resilience and address regulatory gaps in Islamic finance. Key outputs include IFSB-31 on Shari’ah governance supervision and Guidance Note-10 on takaful recovery and resolution. The Council admitted new members and appointed Khalid Ebrahim Humaidan and Olayemi Michael Cardoso as Chairman and Deputy Chairman of the IFSB Council for 2026.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-02•Global•Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) concluded its Annual Meetings in Rabat, Morocco, reaffirming priorities to address regulatory gaps and enhance resilience in the Islamic financial services industry. Key developments include the approval of IFSB-31 on Shari'ah governance supervision, issuance of Guidance Note 10 on takaful recovery and resolution, and the admission of new members. Khalid Ebrahim Humaidan and Olayemi Michael Cardoso were appointed as Chairman and Deputy Chairman of the IFSB Council for 2026.
Policy & regulationInternational standards & recommendationsSupervision process and methodologies
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2025-07-02•Global•Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) Council adopted IFSB-31, a standard on Guiding Principles for Effective Supervision of Shari’ah Governance, and approved GN-10, a guidance note on Recovery and Resolution for Takaful Undertakings. IFSB-31 enhances supervisory oversight of Shari’ah governance in Islamic finance, while GN-10 supports takaful-specific recovery and resolution frameworks. Both measures align with international standards for consistent supervisory outcomes across jurisdictions.
Policy & regulationInternational standards & recommendationsSupervision process and methodologies
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2025-07-02•United Kingdom•Bank of England
The Bank of England has launched a public consultation to decide the theme for its next banknote series, keeping the monarch's portrait unchanged. Six themes are proposed: historical figures, architecture, arts, events, innovation, and nature, with public suggestions welcomed. The Bank highlighted the multi-year process of designing and printing banknotes and may seek further feedback on specific images.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-02•Malta•Central Bank of Malta
The Central Bank of Malta published its seventeenth Financial Stability Report, examining domestic and global macro-financial dynamics and their impact on systemic risk and the resilience of Malta's financial sector. The report includes developments from 2024 and updates on the current macroeconomic context.
ResearchFinancial stability and systemic riskMacroprudential policy and tools
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2025-07-02•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority has appointed Jimmy Leonborn as head of its IT area, effective 1 October. Leonborn will also join the authority’s management group.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Monetary Policy Committee submitted its biannual report to Parliament, detailing its activities from January to June 2025, including three regular meetings, the last of which was on 21 May 2025.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-07-02•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee decided to maintain the countercyclical capital buffer at 2.5% and outlined priorities to enhance the resilience of Iceland’s payment intermediation. Discussions included domestic and global financial stability risks, the real estate market, financial institutions' resilience, and the need for secure and efficient financial market infrastructure.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-07-02•Canada•Payments Canada
Payments Canada has updated its Member Advisory Council (MAC), appointing Shakepay as a new member and reappointing five existing organizations, effective 1 July 2025. The MAC advises on clearing and settlement systems and the development of new technologies. Shakepay will be represented by Eric Richmond, while returning members include TD Bank, Scotiabank, Wealthsimple, Citi, and Wells Fargo.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Chile•Central Bank of Chile
The Central Bank of Chile has initiated a selection process to appoint a new member to the Technical Investment Council (CTI), replacing Claudio Raddatz Kiefer until June 2028. Candidates must have recognized expertise in finance and capital markets and adhere to statutory independence restrictions. The CTI provides reports and opinions on pension fund investments and related regulations, including investment limits and risk measurement.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-07-02•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization published research highlighting the significant role of community and personal relationships in do-it-yourself investing. The study notes that DIY investors use social media alongside offline sources for investment decisions, with risks associated with unregulated information from "finfluencers." It identifies financial, instrumental, and identity-based motivations driving DIY investing.
ResearchFintech and insurtechConsumer and investor protection
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2025-07-02•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) appointed Helena Gottschling as an Independent Director to its Board, effective July 2, 2025. Gottschling, former Chief Human Resources Officer at RBC, succeeds Janet Woodruff, who resigned from the CIRO board.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-02•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet has amended section 3-1 of the Insurance Mediation Regulations to increase the minimum coverage amounts for mandatory liability insurance for insurance intermediaries, aligning with EEA directive obligations. The new minimums are EUR 1,564,610 per claim, with annual aggregate limits of EUR 2,315,610 for firms with 10 or fewer intermediaries and EUR 4,514,170 for larger firms.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-02•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority has allowed banks and financial undertakings to defer their Pillar 3 publication to 25 August 2025, following the postponed second-quarter 2025 capital reporting deadline. This extension is due to the reliance of Pillar 3 disclosures on capital reporting data.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-02•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) identified deficiencies in Eiendomsmegler 1 Nord-Norge AS's risk assessments, compliance with the Real Estate Brokerage Act, and the Money Laundering Act. Key issues include weaknesses in client money handling, AML controls, and new-build sales guarantees. The firm plans to enhance risk assessments, routines, and controls, including broader sanctions screening and better archiving access.
SupervisionReviews, inspections & stress testsAML and CFTCompliance
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2025-07-02•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted a workshop in Ho Chi Minh City to facilitate the implementation of Decree 94/2025, establishing a regulatory sandbox for fintech in the banking sector. The initial phase will test credit scoring, data sharing via Open API, and peer-to-peer lending. The central bank plans to assess emerging models for potential inclusion and develop guidance and reporting arrangements for participating firms.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-07-02•Malta•Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) released findings from inspections of investment services providers, noting improvements and persistent shortcomings in compliance with the Market Abuse Regulation (MAR). Some firms have strengthened frameworks, but issues remain with outdated procedures, lack of Suspicious Transaction and Order Reports (STOR), and inadequate MAR training. The MFSA urges providers to enhance compliance and will continue monitoring adherence through supervision and potential enforcement actions.
SupervisionReviews, inspections & stress testsMarket abuse
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2025-07-02•Canada•Alberta Securities Commission
The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Terrance Anthony Sweeney for allegedly defrauding investors and making misleading statements to ASC staff. Sweeney is accused of raising approximately CAD 222,800 from 15 investors for foreign exchange trading but misappropriating funds for personal use, leading to significant losses. The allegations remain unproven, with a hearing date to be set on August 13, 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-02•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) held an expanded meeting to study Xi Jinping's financial strategies and set priorities for capital market reform. Key focuses include enhancing market mechanisms, investor protection, and supervision, while promoting innovation and balancing political and professional oversight. The CSRC aims to advance reform and improve market stability through measures addressing bond defaults and private fund risks.
Policy & regulationReform agendas & prioritiesOther
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2025-07-02•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority received the final independent expert report on BUSS (Queensland) Pty Ltd, trustee for The Building Unions Superannuation Scheme (Queensland), reviewing its fit and proper processes and expenditure management practices, with a requirement for BUSSQ to publish the report.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-07-02•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission approved General Resolution No. 1073, changing prospectus update requirements and removing the annual ratification for Frequent Issuer status. Issuers can update prospectuses after annual financial statement approval, with updates included in prospectus supplements for each issuance under Global Programmes. The resolution applies to Global Programmes for negotiable obligations under the CNV SME Regime and CNV SME GUARANTEED Regime, maintaining issuer status contingent on compliance.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-02•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance and Central Bank participated in the MENAP meeting, emphasizing regional coordination and reforms amid global uncertainty. They advocated for expanded use of the IMF's Resilience and Sustainability Trust for job creation, youth empowerment, non-oil sector growth, and digital transformation, stressing the importance of strengthening institutional capacities and multilateral partnerships with flexible, country-specific policies.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsDomestic cooperation
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2025-07-02•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance and Central Bank concluded their participation in the 2025 World Bank and IMF Spring Meetings, focusing on economic resilience, policy coordination, and financial stability. Minister Al Hussaini emphasized partnerships, sustainable transformation, innovative financing, and expanding the IMF’s Resilience and Sustainability Trust. Discussions included macroeconomic stability, trade transparency, and rising debt risks in emerging markets.
Policy & regulationCooperationEconomic data and developmentsFinancial stability and systemic risk
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2025-07-02•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance has issued a public warning that Elemental Seguros S.A. is not authorized to operate as an insurer or market insurance in any capacity. This notice aims to protect potential policyholders from engaging with an unlicensed firm.
SupervisionAlertsLicence withdrawal
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2025-07-02•South Korea•Bank of Korea
The Bank of Korea published its 2020 Regional Input-Output Statistics, detailing industrial structure, interregional interdependence, and composition, with specific data for the Seoul Metropolitan area.
Data & statisticsEconomic data and developments
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2025-07-02•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has mandated a Common Contract Note with a single Volume Weighted Average Price for trades across multiple exchanges, effective 27 June 2025. This replaces the previous system of separate trade confirmations per exchange, aiming to streamline post-trade communication, enhance cost efficiency, and reduce compliance burdens.
Policy & regulationRules & requirementsMarket infrastructure
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2025-07-02•Moldova•National Bank of Moldova
The National Bank of Moldova released balance sheet totals, reporting consolidated assets of MDL 121.73 billion, liabilities of MDL 112.27 billion, and capital and reserves of MDL 9.46 billion. Individual assets were MDL 121.73 billion, liabilities MDL 112.27 billion, and capital and reserves MDL 9.45 billion.
Data & statisticsOther
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2025-07-02•Moldova•National Bank of Moldova
The National Bank of Moldova announced Governor Anca Dragu is leading the delegation to the IMF and World Bank Group Constituency meeting in Luxembourg from 2–4 July 2025. Discussions will address fiscal policy, infrastructure investment challenges, and the twin transition of climate change and digital transformation. Dragu will also meet with senior officials from the IMF, World Bank Group, and European Commission to enhance cooperation and support financial sector reforms in Moldova.
Policy & regulationCooperationCross-border cooperation
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2025-07-02•Moldova•National Bank of Moldova
The National Bank of Moldova reported a consolidated net profit of MDL 6,006,652 thousand and an individual net profit of MDL 6,005,820 thousand. Total comprehensive income was MDL 6,086,704 thousand consolidated and MDL 6,085,872 thousand individual, with profit available for distribution at MDL 3,221,941 thousand.
Data & statisticsAccounting and financial reporting