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2025-06-27•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) accepted a court enforceable undertaking from David Makowa of DM Advisory Services due to significant audit quality issues. Makowa will surrender his company auditor registration and never re-apply. He admitted to inadequately conducting audits for Brite Advisors Pty Ltd from FY19 to FY22, failing to meet Australian Auditing Standards. This action is part of ASIC's ongoing investigation into Brite Advisors. The undertaking will be recorded on ASIC’s register.
EnforcementInvestigations & enforcement actionsAuditing
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2025-06-27•Australia•Australian Securities & Investments Commission
ASIC has initiated legal proceedings in the Supreme Court of New South Wales against Liberty Primary Metals Australia, Tahmoor Coal, and Liberty Bell Bay for failing to lodge required annual financial reports. Liberty Primary Metals Australia and Tahmoor Coal have not submitted reports for 2024, while Liberty Bell Bay has outstanding reports for 2021 to 2024. A directions hearing is scheduled for 7 July 2025.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-06-27•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has eased breach-reporting obligations for financial services and credit licensees. Key changes include extending the investigation reporting threshold from 30 to 60 days and recognizing breach reports submitted to APRA as lodged with ASIC. Exemptions apply to certain breaches rectified within 60 days, affecting up to 10 consumers, with losses under AUD 1,000. Broader legislative changes are deferred to the Government.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-27•Europe•European Banking Authority
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority have initiated a public consultation on draft Joint Guidelines for ESG stress testing. The guidelines aim to harmonize supervisory stress test approaches across the EU by integrating environmental, social, and governance risks, proposing a common framework for methodologies and standards. The guidance targets competent authorities without imposing new requirements for conducting ESG-focused stress tests.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-06-27•Europe•European Banking Authority
The European Banking Authority's Spring 2025 Risk Assessment Report shows EU/EEA banks are resilient in capital, liquidity, and profitability but face rising vulnerabilities due to geopolitical developments and market volatility. It highlights robust capital bases and high profits, yet warns of challenges from increased uncertainty and financial market volatility. Key risks include credit exposures to sectors impacted by tariffs and supply chain disruptions, rising operational risks from cyber threats, and climate-related risks affecting banks' exposures.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskGeopolitical risk
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2025-06-27•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) issued Circular CSSF 25/894, updating requirements for Luxembourg-established investment fund managers (IFMs) managing non-authorised funds. The circular mandates IFMs to notify the CSSF of their management of European UCITS and AIFs via a dedicated eDesk procedure, expanding the required dataset to include additional details on the fund’s service providers.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-27•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) issued Policy Statement PS25/7, announcing the decommissioning of two data returns and removing an event-driven notification requirement under its Transforming Data Collection programme. Effective 27 June 2025, the changes include removing FSA039, Section F of the Retail Mediation Activities Return, and Form G, with estimated annual cost savings of GBP 1.3 million for the industry. The FCA also highlighted further proposals in its June Quarterly Consultation Paper CP25/16 and related work on complaints reporting in CP25/13.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-27•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) convened its Consultative Council to review the 2024 Report on Regulation and Supervision of Market Conduct. The report serves as a transparency tool, detailing ASF's supervisory activities on market conduct and interactions between entities and consumers.
SupervisionOtherSupervision process and methodologies
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2025-06-27•Laos•Bank of the Lao
The Bank of the Lao and the SEACEN Research and Training Centre conducted a training programme in Vientiane on "Analysis and Modelling of Macro-Financial Linkages." The course aimed to enhance central bank staff's ability to analyze macroeconomic and financial system developments, covering growth, inflation, credit dynamics, and financial stability metrics. Experts led sessions for 30 participants from 11 SEACEN member central banks.
Institutional developmentCooperation & capacity buildingMacroprudential policy and toolsFinancial stability and systemic risk
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2025-06-27•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has released two Approach documents detailing its assessment of general insurance complaints, focusing on non-disclosure, misrepresentation, and the duty to take reasonable care not to misrepresent, reflecting legislative changes to the Insurance Contracts Act 1984 effective from 2021.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-06-27•United Kingdom•Financial Conduct Authority
The UK Financial Conduct Authority secured a guilty plea from John Burford for operating an unauthorised investment scheme that defrauded investors of over £1 million. Burford, as director of Financial Trading Strategies Limited, misled over 100 investors through a subscription service and unapproved fund management. Sentencing is set for 5 September 2025, with the FCA seeking confiscation orders to recover funds.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-27•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau and the Securities and Futures Commission have initiated a public consultation on licensing digital asset dealing and custodian service providers. The framework mandates SFC licensing for businesses offering digital asset services, covering activities from conversions to brokerage and custody. The SFC will set regulatory standards, with the Hong Kong Monetary Authority overseeing banks and stored value facilities, ensuring compliance with fit-and-proper criteria and investor protection measures.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-27•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong announced the reappointment of Ms Connie Lau Yin-hing as Chairperson of the Hong Kong Deposit Protection Board for a three-year term starting 1 July 2025. Mrs Helen Kan Ng Chau-yuk and Professor Darwin Choi have been appointed as new members, while Mr Andrew Mak Yip-shing has been reappointed. The appointments, made under the Deposit Protection Scheme Ordinance, were gazetted, with outgoing members Professor Chan Koon-hung and Professor Matthew Lee Kwok-on departing after six years.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) trained 100 representatives from 11 savings and credit cooperatives in Ayacucho and Apurímac to enhance financial education and cooperative system understanding. Led by SBS Superintendent Sergio Espinosa Chiroque, the program covered personal finance, credit use, consumer rights, and risk management. Ayacucho hosts the highest cooperative presence, with 222,000 members and deposits nearing PEN 1 billion.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-06-27•Hong Kong•Hong Kong Securities & Futures Commission
Hong Kong's Financial Services and the Treasury Bureau and the Securities and Futures Commission have initiated a consultation on regulatory regimes for virtual asset dealing and custodian services. The proposals aim to empower the SFC to license, supervise, and enforce standards, ensuring investor protection and market integrity. This aligns with the SFC's ASPIRe roadmap and the Government's Policy Statement 2.0 on digital asset development.
Policy & regulationRules & requirements
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2025-06-27•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has introduced electronic forms to assist entities in complying with notification requirements under Prudential Standard CPS 230 Operational Risk Management. These forms address notifications for operational risk incidents, breaches of critical operation tolerance, and new or changed material arrangements or offshoring. They are accessible on APRA’s website.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-06-27•France•Bank of France
The Bank of France announced the winners of its seventh microcredit awards, recognizing Élodie Miesch and Farshad Ahmadi for personal and professional projects, respectively. Miesch received a EUR 2,000 loan for a vehicle, while Ahmadi secured EUR 3,800 for a mobile catering bike kitchen. The awards highlight social microcredit as a support tool for individuals facing difficulties.
OtherSME financing
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2025-06-27•France•Bank of France
The Bank of France’s Observatory for Banking Inclusion reported improvements in financial inclusion indicators for 2024, while highlighting the need for vigilance on household financial difficulties. The report noted a 6.3% increase in financially fragile customers and a 10.8% rise in overindebtedness filings, despite a long-term decline. It recommends lenders consult the National File of Consumer Credit Repayment Incidents before granting credit and anticipates tighter regulation of mini-loans and instalment payments.
ResearchFinancial inclusion
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2025-06-27•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to banks like The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Welab Bank. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-06-27•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) assessed Oman’s observance of Insurance Core Principles, noting compliance with most principles as Observed or Largely Observed. The review highlights Oman’s Financial Services Authority's regulatory advancements, including risk-based capital requirements and enhanced insurer supervision. The IAIS has completed five Member Assessment Programmes since 2019, with Costa Rica's evaluation set for mid-2026.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2025-06-27•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 Arman Galiaskarovich Dunaev as Chair of the Board of Directors of Halyk Bank JSC and Vladimir Bronislavovich Yun as Deputy Chief Accountant.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-06-27•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 Kymbat Mukhamedrakhimovna Trakpanova as chief accountant of JSC BCC Invest, a subsidiary of JSC Bank CenterCredit, as per protocol letter No. 248/RCB dated 23 June 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority updated its AML/CFT Handbook to include the Isle of Man Government’s National Risk Appetite Statement (NRAS). The NRAS addresses risks in the eGaming sector and related industries, particularly concerning serious and organised crime in East and Southeast Asia. The Handbook now includes links to NRAS FAQs and revised Business Risk Assessment guidance.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced a sanctions update from the Isle of Man Treasury’s Customs and Immigration Division, covering ISIL (Da’esh) and Al Qaida, Global Anti-Corruption, and Russia sanctions regimes. Regulated firms are directed to the Treasury’s Sanctions and Export Control webpage for current notices and subscription options for ongoing updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has launched a public consultation on a draft Financial Services (Miscellaneous Provisions) Bill to amend existing legislation for better alignment with international standards. The revisions target the Collective Investment Schemes Act 2008, Designated Businesses (Registration and Oversight) Act 2015, Financial Services Act 2008, and Insurance Act 2008, focusing on consumer protection, financial crime reduction, and efficient regulation.
Policy & regulationRules & requirementsAML and CFTRegulatory burden
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2025-06-27•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan, supported by the Asian Development Bank, published a survey on financial inclusion and literacy under the “Inclusive Financial Sector Development Program”. The study assessed the impact of measures from 2021 to 2023 on access to financial services, using methodologies from the World Bank Findex and OECD. Data was collected from 1,200 respondents and 198 participants across various regions, focusing on financial service usage, behavior, and literacy.
ResearchFinancial inclusionFinancial literacy and education
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2025-06-27•United States•Federal Reserve Bank of Boston
Federal Reserve Bank of Boston President Susan M. Collins discussed economic outlook and infrastructure's role in economic vitality during her visit to southeastern Massachusetts. The visit highlighted the new South Coast Rail service's impact on regional growth and travel patterns. Discussions also addressed affordable housing shortages and workforce training opportunities, including Cape Cod Community College's Aviation Maintenance Technology program.
Other
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2025-06-27•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority released its Q2 2025 macroprudential supervision update, evaluating national economic developments with an emphasis on international financial markets.
SupervisionRisk monitoring & watch pointsMacroprudential policy and toolsFinancial stability and systemic risk
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2025-06-27•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) announced the suspension of three 2025 decrees affecting the Tax on Financial Transactions (IOF), reverting to the 2007 framework. This reinstates a 0% IOF rate for transactions funding life insurance plans with survival coverage, including Vida Gerador de Benefício Livre (VGBL) plans, as per Decree 6.306/2007.
Policy & regulationRules & requirementsTax transparency and information exchange
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2025-06-27•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, led by Governor Jasmina Selimovic, met with an International Monetary Fund mission to discuss economic trends, central bank independence, and currency board sustainability. Discussions included financial sector stability, banking reform, and EU accession negotiations. The IMF expressed readiness to support through technical assistance and advisory work.
Policy & regulationCooperationOther
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2025-06-27•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) hosted a meeting with Sweden’s Ambassador, Helena Lagerlöf, discussing economic trends, monetary stability, and European integration. Ambassador Lagerlöf supported Bosnia and Herzegovina’s reforms and the central bank's independence, emphasizing institutional stability for EU integration. Both parties committed to enhancing cooperation between the CBBH and Swedish institutions.
Policy & regulationCooperationCross-border cooperation
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2025-06-27•South Africa•South African Reserve Bank
The South African Reserve Bank released a data story detailing the initial economic impacts of South Africa's "two-pot" retirement system, as outlined in its latest Quarterly Bulletin. The reforms divide retirement contributions into an accessible savings pot and a retirement pot locked until cessation of work. Key effects include increased tax revenue and insights into withdrawal patterns and retirement fund implications.
ResearchOther
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines announced the merger of MANOR Bank – A Rural Bank Corp. with Rural Bank of Casiguran (Aurora), Inc., effective 2 June 2025, with MANOR as the surviving entity. The Securities and Exchange Commission approved the merger on 29 April 2025, facilitating the transfer of all assets and liabilities to MANOR.
SupervisionAuthorisations & approvalsOther
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2025-06-27•Global•International Banking Federation
The International Banking Federation (IBFed) supports the ISSB standards as a global baseline but requests changes to reduce operational burdens. IBFed agrees with excluding certain emissions from Scope 3 Category 15 disclosures but opposes requiring quantitative information on excluded activities due to cost concerns. It supports flexibility in industry classification systems and recommends additional guidance for jurisdictional relief on the Greenhouse Gas Protocol Corporate Standard.
Policy & regulationInternational standards & recommendationsAccounting and financial reporting
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2025-06-27•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) revamped oversight of closed supplementary pension entities (EFPC) under Resolution PREVIC 23/2023, reinstating risk-based supervision and introducing the "regular management act" for standardized inspections. The new model uses an Annual Inspection Program based on a risk matrix, size, and complexity, replacing less transparent criteria. PREVIC aims to guide and solve problems while retaining disciplinary powers, with the Federal Court of Accounts incorporating the "regular management act" into its standards for legal certainty.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-06-27•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
José Jardim will step down as Financial Economic Director of the Central Bank of Sint Maarten & Curacao on 30 June 2025 to join a commercial bank. CBCS President Richard Doornbosch and Executive Director Leila Matroos-Lasten will temporarily assume his duties while a recruitment process is underway.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) has introduced a new Residential Property Price Index (RPPI) to replace the previous index, offering a more reliable measure of housing price trends. The RPPI uses a hedonic regression approach, incorporating property-specific characteristics and actual acquisition costs, and expands coverage to include new, pre-owned, and foreclosed houses. BSP applied this method retrospectively to data from Q1 2019 to Q4 2024, resulting in more stable index values and growth rates.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released the Q2 2025 Consumer Expectations Survey, showing a decline in the consumer confidence index to -14.0% from -13.0% in Q1, driven by concerns over inflation, income, and job opportunities. Despite the negative current-quarter index, future indices are positive, suggesting improved expectations. Households anticipate inflation to stay within the government's target range over the next year, aiding monetary policy formulation.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released its second-quarter 2025 Business Expectations Survey, showing cautious yet softened business sentiment with the confidence index dropping to 28.8% from 31.2% in the previous quarter. Concerns include reciprocal tariffs on U.S. exports, post-midterm election slowdown, and inflation expectations within the government's target range. The survey, conducted with 1,527 firms, serves as input for monetary policy formulation.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a slowdown in residential property price growth, with the Residential Property Price Index (RPPI) rising 7.6% year-on-year in Q1 2025, down from 9.8% in Q4 2024. The National Capital Region (NCR) drove the increase, recording a 13.9% rise, while areas outside the NCR saw a 3.0% increase. Condominium prices rose 10.6% year-on-year, and house prices increased 4.5%.
Data & statistics
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2025-06-27•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on four websites, instructing their blocking by Italian providers. This action is part of IVASS's ongoing efforts, with 254 sites blocked since November 2023. IVASS advises consumers to verify the authorization of firms and intermediaries before paying premiums, especially for temporary motor third-party liability policies.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-27•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that the High Court ordered former CBL Group CFO Carden Mulholland to pay a pecuniary penalty of NZD 641,250 and costs of NZD 606,216.53 for breaches of continuous disclosure requirements under the Financial Markets Conduct Act 2013. Mulholland was found liable for disclosure failures affecting regulatory solvency and reserve requirements, with related proceedings against CBL Corporation Limited and its directors resulting in penalties of $11.28 million.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-06-27•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles' Financial Stability Committee released its 2024 Financial Stability Report, highlighting the resilience of the financial sector, with improved banking performance and asset quality. The report notes increased insurance claims due to December 2023 disasters and ongoing AML/CFT risk management efforts. It emphasizes the FSC's focus on enhancing the financial stability framework from a governance perspective.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-06-27•Serbia•National Bank of Serbia
The National Bank of Serbia reported growth in payment card issuance and card-based retail purchases in Q1 2025, with 12.4 million cards issued, a 6.3% increase year-on-year. Card purchases in Serbia rose by 15.9% year-on-year, totaling 175.7 million transactions. The number of POS terminals increased by 21.2% to over 170,000, while the ATM network expanded by 4.2% to 3,219 machines.
Data & statisticsPayments and payment systems
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2025-06-27•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission announced measures to curb household debt in Seoul by reducing annual lending targets and tightening mortgage, jeonse, and credit loan constraints. Actions include halving financial companies' household loan targets, capping purchase mortgages at KRW600 million, and imposing stricter loan-to-value (LTV) ratios. The measures will be implemented immediately, with supervisors monitoring compliance and potential further regulatory actions.
Policy & regulationRules & requirementsLendingMacroprudential policy and tools
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2025-06-27•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released its insurance market update for January to May 2025, noting a 7.60% increase in gross written premiums to ALL 10,075 million and a 9.29% rise in insurance contracts. Non-life insurance dominated with a 90.58% share, while motor insurance accounted for 75.79% of gross paid claims, totaling ALL 2,504 million. Compulsory motor premiums increased by 13.03% to ALL 6,043 million, with voluntary insurance premiums up by 0.37%.
Data & statisticsFinancial and market indicators
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,132 examines firm-level borrowing constraints by analyzing interest rate spreads and capital-to-debt ratios among UK firms. Findings indicate intangible assets are less effective than tangible collateral in easing debt-market frictions, leading to tighter financing conditions for firms with higher intangible intensity. The research suggests increased intangible intensity correlates with higher financing costs and greater reliance on short-term debt.
ResearchPrudential risksCorporate governance
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,133 examines how inflation uncertainty affects UK households' consumption and saving. A randomized controlled trial shows reduced inflation uncertainty boosts planned spending and expected income, decreasing precautionary saving. Households view inflation as supply-side driven, with notable spending responses among non-hand-to-mouth and university-educated individuals.
Research
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,131 introduces a global index of exchange rate "fixity" to reassess trends in exchange rate regimes and anchor currencies. The study finds that global exchange rate arrangements are now more flexible, with fixity levels significantly lower than during Bretton Woods, and less global anchoring to the US dollar when indirect links are considered. The paper is research in progress and not indicative of Bank of England policy.
ResearchForeign exchange policy and markets
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2025-06-27•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice amending details for 14 individuals and two entities under the UK's Russia (Sanctions) (EU Exit) Regulations 2019. Rosneft Marine (UK) Limited and the Main Directorate of Deep-Sea Research remain subject to asset freeze and trust services sanctions in Guernsey. Businesses must report findings to the States of Guernsey Policy & Resources Committee and comply with asset freeze requirements unless a permitted derogation or licence applies.
Policy & regulationRules & requirementsSanctions list update
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2025-06-27•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has amended the identifying details of Abubakar Swalleh under the UK's ISIL and Al-Qaida sanctions regime. The designation remains active, requiring firms to freeze relevant assets and report any findings to the States of Guernsey Policy & Resources Committee. Firms must also notify the Commission and submit a report per Handbook Rule 12.37 if an affected relationship is identified.
SupervisionRegulatory reportingSanctions list update
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2025-06-27•Global•Institute of International Bankers
The Institute of International Bankers endorsed the removal of Section 899 from the One Big Beautiful Bill Act by Senate Finance Committee Chairman Mike Crapo and House Ways and Means Committee Chairman Jason Smith, while highlighting ongoing G7 negotiations led by Secretary Bessent for an alternative solution. The IIB emphasized the significant role of international banks in U.S. debt issuance and foreign direct investment, noting their contributions to the U.S. economy, including lending USD 1.3 trillion to U.S. companies in 2023.
Policy & regulationRules & requirementsOther
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2025-06-27•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Convenience Cash Lending Corporation, operating as Zada Cash and Bloom Cash, for unregistered lending activities. The enforcement action follows the company's non-compliance with a July 2023 order mandating registration with the Credit Information Corporation under Republic Act No. 11765.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-27•Global•Sustainable Insurance Forum
The Sustainable Insurance Forum, Taskforce on Nature-related Financial Disclosures, and KPMG have launched NATURE-INSURE, a global programme to enhance insurance supervisors' responses to nature-related financial risks. The initiative aims to improve understanding of biodiversity loss impacts on insurance markets and introduce practical tools like TNFD’s LEAP approach. It highlights global disclosure frameworks and emerging supervisory practices to boost capabilities and awareness of sustainability goals.
Policy & regulationImplementation, projects & pilotsNature-related risk
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2025-06-27•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) released an evidence review linking nature-related risks to financial outcomes, highlighting the need for integrated risk assessment and improved data. Co-authored with the University of Oxford and Global Canopy, it includes case studies and sector guidance for water utilities, emphasizing assessing dependencies and impacts on nature. TNFD also announced a public consultation and further work on nature-related opportunities.
Policy & regulationInternational standards & recommendationsNature-related risk
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2025-06-27•United Kingdom•Prudential Regulation Authority
The Bank of England and the Prudential Regulation Authority (PRA) released their annual report on whistleblowing disclosures for the period from 1 April 2024 to 31 March 2025. Out of 264 disclosures, 252 were deemed protected under the Employment Rights Act 1996, with 32 contributing to supervisory activity and 76 under ongoing assessment. Twelve disclosures were not protected due to issues outside the authorities' remit or insufficient context.
EnforcementWhistleblowing
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2025-06-27•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) released results from its 2024 Firm Feedback Exercise, showing improved average scores in supervision effectiveness compared to 2023. While firms praised their relationships with the PRA, feedback on the regulatory framework and policy was less favorable. Larger firms expressed concerns about the complexity of specialist engagements, while smaller firms highlighted the need for proportionality in supervisory activities.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-06-27•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority issued guidance to banks and insurance companies on obtaining borrowers' signatures on the Key Features Statement (KFS), emphasizing compliance with Regulation 51 of the Insurance (Licensing & Governance) Regulations, 2020. Banks may sign the KFS as co-insureds if borrowers are unreachable, and the signature requirement may be waived at renewal if the KFS was signed at inception and policy terms remain the same.
Policy & regulationGuidance & interpretationSales and distribution
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2025-06-27•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo approved its 2024 Annual Report, confirming financial sector stability and detailing measures to enhance banking capitalisation and supervision. The report notes 4.4% economic growth, 1.6% inflation, and public debt at 16.5% of GDP, alongside regulatory advancements and governance reforms. From EUR 30.8 million in distributable profits, over EUR 15.4 million was allocated to the state budget, with EUR 9.1 million paid in interest on state accounts.
Institutional developmentGovernanceFinancial stability and systemic riskSupervision process and methodologies
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2025-06-27•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission hosted the 10th Asia Pacific Regulators’ Dialogue on Market Surveillance in Bangkok, focusing on technology use in surveillance, market misconduct trends, and digital asset regulation. Participants included major Asia-Pacific regulators, discussing jurisdiction-specific challenges and cross-border cooperation.
Policy & regulationCooperationMarket abuseSupervision process and methodologies
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2025-06-27•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC rejected NR Instant Produce's request for a 60-day extension to submit rectified financial statements for 2024 and Q1 2025, citing insufficient grounds. The SEC instructed NRF to file and disclose the statements via the Stock Exchange of Thailand’s SETLink system without delay. The rectification involves accounting treatment of shareholding changes in Kairous Asia Limited and asset impairment considerations for Regeneration Capital Co., Ltd.
SupervisionAuthorisations & approvalsAccounting and financial reporting
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2025-06-27•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) announced that the European Commission does not object to its plan to extend risk weight floors for Swedish mortgage and commercial property exposures under Article 458 of the Capital Requirements Regulation. The existing floors are 25% for residential mortgages, 35% for commercial real estate, and 25% for commercial residential property. Finansinspektionen will decide before the current measures expire in 2025.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-27•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has released its annual supervisory disclosures under Article 143 of the Capital Requirements Directive for 2024. The update details Swedish laws, regulations, and guidance under the CRD, national options and discretions exercised, and provides aggregated data on CRD and Capital Requirements Regulation implementation.
SupervisionRegulatory reporting
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2025-06-27•Sweden•Finansinspektionen
Sweden’s Financial Supervisory Authority (Finansinspektionen) has appointed Gunnar Larsson as a new board member, effective 1 July 2025, succeeding Cecilia Renfors. Larsson previously held roles as Director General of the Swedish Consumer Agency and the Swedish Legal, Financial and Administrative Services Agency. His term will last until 30 June 2028.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its June 2025 Economic Indicators report, offering a chart-based overview of macroeconomic, financial market, and financial system developments, with detailed data accessible in spreadsheet format. The report includes nine chapters covering topics such as inflation, output, trade, labour market, public finance, asset markets, and the financial system, complemented by interactive indicators online.
Data & statisticsEconomic data and developments
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2025-06-27•Russia•Central Bank of Russia
The Central Bank of Russia's June 2025 monitoring shows a decline in the average maximum interest rate on Russian rouble household deposits from 18.87% to 18.40% among the top 10 credit institutions. Rates by maturity were 17.43% for up to 90 days, 17.94% for 91 to 180 days, 17.52% for 181 days to one year, and 16.11% for over one year. The monitoring excludes special-category deposits and is based on data from major banks including Sberbank and VTB.
Data & statisticsFinancial and market indicators
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2025-06-27•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority (FIN-FSA) released findings from a review on AI usage among Finnish financial entities to guide future market supervision under the EU Artificial Intelligence Act. The review highlights widespread AI adoption, particularly in banking and insurance, with generative and general-purpose AI models used for internal processes. Key risks include data quality and protection, while governance measures such as AI strategies and ethical standards are being implemented.
SupervisionReviews, inspections & stress testsArtificial intelligence
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2025-06-27•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) maintained its macroprudential settings, keeping the systemic risk buffer (SyRB) at 1.0%, other systemically important institution (O-SII) buffers at 0.5%–2.5%, and the countercyclical capital buffer (CCyB) at 0.0%. The housing loan cap remains at 95% for first-home loans and 90% for other new housing loans. FIN-FSA also approved full reciprocation of Norway’s updated SyRB requirement at 4.5% for Finnish banks operating in Norway, effective 1 October 2025.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-06-27•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority released a review on AI use in the Finnish financial sector, highlighting widespread adoption among large and medium-sized firms, particularly in banking and insurance. Key risks include data quality, protection, and AI expertise, with the EU Artificial Intelligence Act expected to drive sector-wide changes. The review noted that supervisory and sanction powers will be effective from 2 August 2025.
SupervisionRisk monitoring & watch pointsArtificial intelligence
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2025-06-27•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority (FIN-FSA) Board has published an updated macroprudential strategy, enhancing its focus on financial system risk resilience. The revision includes new operational policy objectives and clarifies the application of macroprudential instruments. The FIN-FSA Board will annually review the strategy's effectiveness and relevance.
Policy & regulationReform agendas & prioritiesMacroprudential policy and tools
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2025-06-27•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation Board is considering a proposed rule to modify the enhanced supplementary leverage ratio (eSLR) for US global systemically important banks (GSIBs), linking it to each firm’s GSIB capital surcharge. The change is expected to reduce required Tier 1 capital by approximately USD 13 billion, or about 1.4%, and aims to alleviate leverage constraints on low-risk activities. Acting Chairman Travis Hill stated the FDIC will review public comments on the proposal.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-27•Canada•Payments Canada
Payments Canada elected Mairead Lavery as an Independent Director and Blair Wiley as a Member Director to its Board of Directors, while renewing the terms of Kevan Cowan and Jennifer Hawkins. The board acknowledged the service of outgoing directors Anju Virmani and Sean Goldrick. Payments Canada's board consists of 12 directors elected under the Canadian Payments Act, with a majority being independent.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•United States•Federal Deposit Insurance Corporation
The Office of the Comptroller of the Currency, the Federal Reserve, and the FDIC propose changes to the enhanced supplementary leverage ratio (eSLR) for U.S. GSIBs and subsidiaries. The proposal recalibrates the eSLR to support it as a backstop to risk-based capital requirements and addresses disincentives for low-risk activities. The Federal Reserve also suggests amendments to total loss-absorbing capacity and long-term debt requirements to align with the new eSLR approach.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-27•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation and other regulators exempt banks from directly collecting taxpayer identification numbers under the Customer Identification Program Rule, allowing third-party collection. This applies to all FDIC-supervised institutions if they maintain risk-based identity verification and comply with the CIP Rule. The Financial Crimes Enforcement Network supports this method as consistent with the Bank Secrecy Act, and its implementation is optional.
Policy & regulationRules & requirementsKYC
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2025-06-27•Chile•Central Bank of Chile
The Central Bank of Chile is consulting on proposed amendments to payment card regulations to enable open-loop card use in public transport systems. The amendments include safeguards against fraud in offline transactions, such as an issuer exposure cap of 0.1 unidad de fomento (UF) and a preventive blocking mechanism. Only nominative open-loop cards regulated by the Central Bank will be permitted.
Policy & regulationRules & requirementsPayments and payment systems
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2025-06-27•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released a list of administrative enforcement actions from May 2025, including 12 orders and two Notices. These actions featured one consent order, one order terminating a consent order, four orders of prohibition, and six orders terminating 100 Section 19 waiver orders. No administrative hearings are scheduled for July 2025.
EnforcementEnforcement statistics
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2025-06-27•United States•Federal Deposit Insurance Corporation
The FDIC is appointed receiver for The Santa Anna National Bank after its closure by the Office of the Comptroller of the Currency. Coleman County State Bank will assume insured deposits and some assets. The FDIC estimates a USD 23.7 million cost to the Deposit Insurance Fund, citing suspected fraud. The failed bank's office will reopen as a Coleman County State Bank branch, and depositors will retain FDIC insurance coverage.
SupervisionInterventionsRecovery and resolution
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2025-06-27•Albania•Bank of Albania
Bank of Albania Governor Gent Sejko attended the IMF and World Bank Group constituency meeting in Italy, discussing global economic developments and financial stability. Sejko highlighted Albania's limited exposure to US tariffs but warned of potential risks from a global tariff war. The meeting also addressed resilience to crises and disaster-related financing, with Banca d’Italia acknowledging collaboration on modernizing payment systems.
Policy & regulationCooperation
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2025-06-27•United States•Federal Reserve Board
The Federal Reserve Board's annual stress test results show 22 banks would stay above minimum CET1 capital requirements during a severe recession. The scenario projects a 1.8 percentage point decline in the aggregate CET1 capital ratio after over USD 550 billion in losses, significantly impacting credit card, commercial, and real estate loans. The Board plans to address model volatility and has proposed averaging stress test results over two years to stabilize capital requirements.
SupervisionReviews, inspections & stress testsStress testing
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2025-06-27•United States•Federal Reserve Board
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency proposed changes to regulatory capital standards to reduce leverage-based disincentives for low-risk activities and support US Treasury markets. The proposal recalibrates the enhanced supplementary leverage ratio (eSLR) for systemically important banks, aiming to maintain overall capital levels while reducing tier 1 capital standards by less than 2%. Conforming amendments will affect frameworks linked to the eSLR, including total loss-absorbing capacity and long-term debt requirements.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-27•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority has set the late payment interest rate at 12.25% per annum and the standard compensation for recovery costs at NOK 460 for the second half of 2025, effective 1 July. This is the first determination under the new delegation from the Ministry of Finance. The interest rate is adjusted semi-annually to match Norges Bank’s policy rate plus at least 8 percentage points, while the compensation amount aligns with EUR 40, adjusted for exchange-rate changes.
Policy & regulationRules & requirementsOther
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2025-06-27•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority published an inspection report on Assuranceforeningen Gard – Gjensidig, highlighting weaknesses in their Solvency II internal model governance. Issues include inadequate inflation risk treatment, outdated model parameters, and insufficient validation of interest rates and mortgage-backed securities. The authority calls for systematic improvements and further testing, with Gard expected to address these concerns in 2025.
SupervisionReviews, inspections & stress testsRisk managementSupervision process and methodologies
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2025-06-27•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published an inspection report on RSM Norge AS, revealing serious breaches of the Norwegian Auditor Act linked to loan fraud. The engagement partner relinquished his auditor authorisation following notification of its intended revocation. No further measures were imposed on RSM Norge AS due to prior fines and remediation efforts.
SupervisionReviews, inspections & stress testsAuditing
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2025-06-27•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) celebrated 100 years of banking regulation at its Annual Conference, discussing past and future supervision with key figures like the Finance Minister and an IMF speaker. CMF Chairwoman Solange Berstein highlighted progress on Basel III standards and the Fintech Act, while identifying priorities such as the Consolidated Debt Registry and deposit insurance framework. IMF Deputy Chief Dirk Jan Grolleman addressed global supervisory challenges, including financial interconnections and Basel III implementation disparities.
OtherSupervision process and methodologies
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2025-06-27•Chile•Chile Financial Market Commission
Chile's Financial Market Commission (CMF) has launched a consultation to modernize regulations for savings and credit cooperatives, including an Updated Compilation of Cooperative Regulations and an Information Systems Manual. This initiative aims to reorganize requirements and introduce cooperative-specific instructions, reflecting CMF's expanded remit under the Financial Resilience Act. The approach emphasizes proportional, risk-based supervision tailored to each cooperative's vulnerabilities.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-06-27•Chile•Chile Financial Market Commission
The Chile Financial Market Commission authorized Mastercard Administradora Chile S.A. and Visa Chile Sociedad Administradora de Cámara de Compensación de Pagos de Bajo Valor S.A. to operate low-value payment clearinghouses. This brings retail card payment settlements under CMF supervision, ensuring finality and irrevocability per international standards. The move follows the 2024 authorization of a similar clearinghouse for wire transfers.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Chile•Chile Financial Market Commission
The Chile Financial Market Commission's May 2025 report highlights weak real-term lending in banks, with a 0.05% annual decrease, but improved profitability due to lower taxes and operating expenses. Savings and credit cooperatives showed a 6.38% increase in loans and a 46.2% rise in profits, with consumer loans comprising 69.61% of operations. Key risk metrics for banks included a loan-loss provisions index of 2.55% and a 90+ days arrears ratio of 2.29%, while cooperatives had a provisions index of 4% and a 90+ days arrears ratio of 2.33%.
SupervisionRisk monitoring & watch pointsLendingAsset quality
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2025-06-27•Chile•Chile Financial Market Commission
The Chile Financial Market Commission amended rules prohibiting banks from granting loans to directors, general representatives, and related parties, clarifying definitions and treating civil partners as spouses. The framework specifies corporations subject to the ban and defines "indirectly" per the General Banking Act, with exclusions for collective participation below 5%. Reporting requirements were updated, and breaches incur sanctions equal to the loan amount or surplus value.
Policy & regulationRules & requirementsCorporate governance
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2025-06-27•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced amendments to the Law on Credit Institutions, approved by Vietnam’s National Assembly, effective 15 October 2025. Key changes include a refined framework for special lending and new conditions for seizing collateral backing non-performing loans. The Government will issue guidance on inspection, supervisory, and enforcement mechanisms and develop a decree on collateral seizure conditions.
Policy & regulationRules & requirementsOther
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2025-06-27•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Banking Times has introduced a "Banking Law Advice" column to offer legal guidance on financial and banking issues, following amendments to the Law on Credit Institutions. The column will address reader inquiries on topics such as credit agreements and collateral handling, in collaboration with the State Bank of Vietnam’s Legal Department and legal experts.
Policy & regulationGuidance & interpretationOther
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2025-06-27•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the re-election of Pham Chi Quang as Party cell secretary and the election of Mai Thi Trang as deputy secretary for its Monetary Policy Department. The congress emphasized proactive and flexible monetary policy management, coordination with fiscal policies, and digital transformation in banking. Priorities include modernizing the monetary policy framework and enhancing policy advice quality.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority released an inspection report on Storebrand Asset Management AS, highlighting misleading sustainability-related disclosures under Regulation (EU) 2019/2088 (SFDR). The report criticized the firm's website presentation of its "Storebrand sustainability score" and found issues with disclosures for Article 8 and Article 9 funds. Storebrand has removed the score from marketing materials and initiated a review of fund documentation.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-06-27•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority reminded consumers on National Insurance Awareness Day to review their insurance policies for adequate natural disaster coverage. It emphasizes that wildfires and floods may not be automatically covered and highlights the need for separate earthquake insurance. The authority also directs consumers to resources on natural disaster coverage and home insurance tips.
Financial literacy & educationConsumer and investor protection
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2025-06-27•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency appointed the Federal Deposit Insurance Corporation as receiver for The Santa Anna National Bank in Texas due to unsafe or unsound conditions. The bank faced substantial asset and earnings dissipation, with assets falling below obligations. As of March 31, 2025, the bank reported approximately USD 77 million in total assets.
SupervisionInterventionsOther
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2025-06-27•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency seek comments on proposed changes to capital standards for major banking organizations. The proposal adjusts leverage requirements to backstop risk-based standards without discouraging low-risk activities. Changes include modifying the enhanced supplementary leverage ratio (eSLR) based on systemic risk, with expected Tier 1 capital reductions for some entities.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-27•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration, with Financial Crimes Enforcement Network's concurrence, exempted banks and credit unions from directly collecting taxpayer identification numbers under the Customer Identification Program Rule. This allows third-party methods to obtain TINs, addressing consumer reluctance due to data breaches and identity theft concerns. Institutions must still maintain risk-based procedures to verify customer identities.
Policy & regulationRules & requirementsKYC
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2025-06-27•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency issued an order exempting banks from the Customer Identification Program rule, allowing them to obtain Taxpayer Identification Number information from third parties under certain conditions. This exemption is part of Bank Secrecy Act modernization, facilitating online and mobile banking and enhancing financial inclusion. The order offers an optional compliance approach without imposing new requirements or weakening the BSA's ability to combat illicit finance.
Policy & regulationRules & requirementsKYC
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2025-06-27•China•China Securities Regulatory Commission
The China Securities Regulatory Commission announced penalties against delisted Nanjing Yuebo Power System Co., Ltd. for financial fraud and will extend enforcement to third-party accomplices. From 2018 to 2022, Yuebo Power inflated revenue and profits through fabricated sales and sham asset disposals, leading to proposed fines totaling CNY 30.8 million and market bans for involved individuals. The CSRC emphasized its commitment to comprehensive enforcement, including criminal referrals and leniency for cooperative accomplices.
EnforcementInvestigations & enforcement actionsFinancial benchmarksDisclosures
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2025-06-27•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has introduced electronic forms for regulated entities to fulfill notification requirements under Prudential Standard CPS 230 Operational Risk Management, covering operational risk incidents, breaches of critical operation tolerance, and changes to material arrangements or offshoring.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-06-27•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission President Roberto E. Silva highlighted the CNV's efforts to support financial innovation at Fintech Meetup Rosario. He emphasized the pioneering regulation of PSAVs in the virtual-assets space, developed through public consultation and compliant with Law No. 27.739, aiming to balance regulation with industry innovation incentives.
Policy & regulationGuidance & interpretationFintech and insurtech