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2025-06-24•Spain•Bank of Spain
The Bank of Spain reported a 4.6% year-on-year increase in net turnover for non-financial corporations in Q1 2025, but a 17.9% decline in ordinary net result, with ordinary return on net assets falling to 3.6%. The decline was driven by weak performance in energy and oil refining, while commerce and hospitality sectors saw gains. Financial income decreased 27% due to lower dividends, and staff costs rose 4.2%, though financial expenses fell 9.9%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-24•South Africa•South African Reserve Bank
The South African Reserve Bank reported a 0.3% decline in the composite leading indicator for April 2025, with decreases in seven of ten component series, notably real M1 money supply and domestic manufacturing orders. In contrast, the coincident and lagging indicators rose by 0.2% and 0.4% in March 2025, driven by increased real wholesale, retail, and motor trade sales.
Data & statisticsEconomic data and developments
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2025-06-24•South Africa•South African Reserve Bank
The South African Reserve Bank released the 11th National Payment System Regulatory and Oversight Report, detailing developments from April 2024 to March 2025. Key initiatives include legal reforms to enhance competition, a draft exemption notice for non-bank access, and directives on cybersecurity and screen scraping. The report outlines future milestones, including the Vision 2025 progress report and the NPS Vision 2030+ strategy, with implementation beginning in 2026.
Policy & regulationRules & requirementsPayments and payment systems
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2025-06-24•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities & Commodities Authority has referred several board members of an unlisted public joint-stock company to the Public Prosecution for breaches of Federal Decree-Law No 32 of 2021. The violations pertain to governance and disclosure requirements, with the SCA warning of potential prosecution for such breaches.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-06-24•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten announced a public awareness campaign to combat payment fraud amid the rise of new payment methods. The National Payment Council (NPC) also reviewed progress on harmonising local payment card fees and discussed Instant Payment technology, drafting guidelines for real-time interbank transfers and exploring international instant payments.
Financial literacy & educationFraud and scamsConsumer and investor protection
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2025-06-24•United States•New York State Department of Financial Services
The New York State Department of Financial Services has released resources for homeowners managing insurance claims post-disaster, directing them to its Disaster and Flood Recovery Resource Center. The guidance includes filing claims, documenting damage, and using DFS channels for complaints and insurance information. DFS also provides assistance via its disaster hotline for coverage and property safeguarding inquiries.
Policy & regulationGuidance & interpretationOther
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2025-06-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) rejected a settlement proposal from Thaís Nogueira Alonso, investor relations director of Mitre Realty, in a case concerning alleged disclosure failures. The Settlement Committee deemed it inappropriate due to the seriousness of the allegations, including nondisclosure of a material fact, incomplete board meeting minutes, and omissions in the 2023 Reference Form. The case will proceed to a merits decision by the CVM Board.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-06-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has extended the deadline for public comments on proposed reforms to disclosure rules, now due by 18 July 2025. The draft rule aims to replace CVM Resolution 44, focusing on significant shareholdings and the use of Material Fact and Market Communication instruments.
Policy & regulationRules & requirementsDisclosures
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2025-06-24•Poland•Ministry of Finance (Poland)
Poland's Ministry of Finance announced the Council of Ministers' adoption of a draft law to align national legislation with the EU Markets in Crypto-Assets Regulation (MiCA). The framework aims to regulate the cryptoasset market, focusing on client and investor protection, with oversight by the Polish Financial Supervision Authority. Key provisions include supervisory tools for the KNF, criminal liability for severe violations, and compliance with anti-money laundering rules.
Policy & regulationRules & requirements
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2025-06-24•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission issued Guidelines on Product Governance to enhance investor protection and ensure responsible development of unlisted capital market products. Firms must prioritize investor interests, improve product suitability, and hold boards and senior management accountable, excluding ordinary shares, OTC derivatives, venture capital, private equity funds, and products on recognized market platforms. The principle-based guidelines require collaboration between issuers and distributors and will be effective from 2 January 2026.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-24•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan conducted a training session for credit unions on anti-money laundering and counter-terrorist financing (AML/CFT) legislation. The session focused on AML/CFT obligations, internal control programmes, customer due diligence, and monitoring suspicious transactions, including a presentation and Q&A.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-24•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has extended the application deadline to August 15, 2025, for two Credit Union Technical Advisory Committees: the Credit Union Policy Initiatives committee and the Deposit Insurance Reserve Fund committee. FSRA seeks senior professionals and stakeholders for three-year terms to advise on issues impacting Ontario’s credit union sector. Current members with expiring terms may also apply.
Policy & regulationImplementation, projects & pilotsHiring and recruitment
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2025-06-24•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario revoked Warden Wellness Centre Ltd.'s service provider licence and fined Anusuya Gobinathan CAD 10,000 after the Financial Services Tribunal dismissed their hearing request. FSRA found Warden Wellness provided false, misleading, and incomplete information, violating Ontario’s Insurance Act, and deemed its conduct likely to continue unlawfully. Gobinathan was penalized for similar violations in the application process.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-24•Poland•Central Bank of Poland
The Central Bank of Poland reported a rise in the M3 money supply by PLN 22.8bn in May 2025, reaching PLN 2,569.9bn, primarily due to increased deposits and claims from non-financial corporations. Deposits in the non-financial corporate sector grew by PLN 10.2bn, while household debt increased by PLN 3.2bn. Additionally, central government net debt rose by PLN 5.9bn.
Data & statisticsMonetary data
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2025-06-24•Global•ISDA
ISDA CEO Scott O’Malia noted challenges in implementing US Treasury market clearing mandates, emphasizing adjustments in the US prudential framework to maintain banks' intermediation capacity. Key issues include the supplementary leverage ratio's impact on balance sheet capacity, potential capital increases under Basel III endgame rules, and the need for margin requirements to reflect actual risk, with market readiness efforts underway for mandates starting in late 2026.
Policy & regulationReform agendas & prioritiesPrudential risksMarket infrastructure
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2025-06-24•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority has approved the definitive prospectus for Nexans' capital increase reserved for the group's employees.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-24•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority transferred leadership of the Inherent Defects Insurance pool from Malath to Tawuniya for three years from June 24, 2025. The mandatory product, supported by 17 insurers, covers latent structural defects in residential and commercial buildings.
SupervisionAuthorisations & approvalsLeadership change and appointmentsCorporate governance
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2025-06-24•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority granted Howden Reinsurance Brokers a final license to provide reinsurance brokerage services through direct investment in the local market. The license supports competition, specialized expertise and regulated reinsurance arrangements between insurers and reinsurers.
SupervisionAuthorisations & approvalsCompetition and market structureMarket developmentCompliance
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2025-06-24•United Kingdom•HM Treasury
HM Treasury and the U.S. Department of the Treasury released a joint statement from the 11th UK-U.S. Financial Regulatory Working Group meeting, highlighting discussions on economic stability, regulatory initiatives, and digital finance. Key topics included non-bank financial intermediation, cybersecurity, stablecoin legislation, and the UK's move to a T+1 settlement cycle by October 2027. The group agreed to continue dialogue through their forum.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-06-24•Europe•European Payments Council
The European Payments Council has initiated the second phase of the EPC Directory Service Pilot, extending participation to all Verification Of Payee scheme participants and qualified Routing and/or Verification Mechanisms. The pilot will conclude in August, with a Live mode launch planned for early September 2025. Payment service providers and RVMs onboarded during the pilot will transition to the Live platform without re-onboarding.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-24•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that Lightning Shared Scooter Co. (LSSC) is not registered to deal or advise in securities in New Brunswick. The alert includes additional names used by the company, such as LSSC Canada Inc. and LSSC Edmonton Ltd., and advises investors to verify registration status via the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-06-24•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's April 2025 report details EGP 384bn in total financing across capital market and non-banking financial activities. Key figures include EGP 180.6bn in equity issuances, EGP 52.1bn in financial leasing, and EGP 31.8bn in MSME financing. By end-April, the movable collateral registry filings reached EGP 3.4trn, with insurance premiums at EGP 38.4bn and claims paid at EGP 18.4bn.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-24•United States•Federal Deposit Insurance Corporation
The FDIC announced measures to aid FDIC-supervised institutions in Tennessee affected by severe weather, following a FEMA disaster declaration. The FDIC encourages lenders to adjust loans and may offer relief from reporting and compliance requirements. It will expedite requests for temporary banking facilities and consider Community Reinvestment Act credit for recovery efforts.
SupervisionInterventionsOther
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2025-06-24•Chile•Central Bank of Chile
The Central Bank of Chile announced the design and issuance plan for a special-edition CLP 100 coin to commemorate its centenary, set to circulate from 21 July. The coin, featuring a centenary logo, will be legal tender and circulate alongside existing CLP 100 coins. Distribution will occur through commercial banks and established commerce.
Monetary policyMonetary policy instruments & operationsOther
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2025-06-24•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority stated that the Ministry of Finance upheld its decision requiring Fremtind Forsikring AS to stop marketing benefit programmes as product packages. The Ministry found the discounts offered were especially favourable and not justified by documented, quantifiable cost savings. Finanstilsynet expects banks and insurers to review their product packages for compliance and will monitor adherence through ongoing supervision.
EnforcementInvestigations & enforcement actionsSales and distribution
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2025-06-24•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a report on how selected banks manage terrorist financing risk, using data from seven Norwegian banks and three foreign branches. It emphasizes the distinct nature of terrorist financing risk compared to money laundering, highlighting the importance of transaction destination and small-value transfers. The report outlines good practices, including separate assessments of exposure by product, customer, and geography, and integrating emerging risks into customer risk-scoring and monitoring scenarios.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-06-24•Chile•Chile Financial Market Commission
The Chile Financial Market Commission issued a second consultation on draft regulations under the Fintech Act to permit insurers to offer parametric insurance, expanding insurable risks and indices. The framework outlines criteria for parametric insurance and proposes amendments to General Rule No. 306 on technical reserves for earthquake-specific contracts. The revisions reflect automatic index triggers, fixed insured sums, and binary payout structures.
Policy & regulationRules & requirementsFintech and insurtech
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2025-06-24•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved disclosure documents for Aegean Airlines SA's bond issuance and GI.EL.DI Holding's public offer for Kepenou Mills SA, while imposing fines for investment services and anti-money laundering breaches. Hellenic American Securities S.A. was fined EUR 8,000 for investment service regulation breaches, and MAVRIKIS AEPEY was fined EUR 4,000 for AML violations. FORIS DAX MT LIMITED was removed from the Commission’s crypto service registers.
SupervisionAuthorisations & approvalsSecurities offerings and listingsAML and CFT
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2025-06-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Payment Department held its 2025-2027 term congress, electing a new executive committee and receiving directives from Deputy Governor Pham Tien Dung on cashless payments, digital banking, and payment-system safety. Key tasks include enhancing the legal framework for digital banking, coordinating with the Ministry of Public Security on Project 06, and strengthening payment system supervision. The new committee will integrate these priorities into its action plan.
Institutional developmentLeadership change & appointmentsOrganizational structure
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2025-06-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted the IMF’s Article IV mission, discussing macroeconomic conditions and policy recommendations amid global risks. The central bank reported strong growth, controlled inflation, and stable foreign investment, while highlighting risks from global instability. The IMF recommended strengthening macroeconomic buffers and modernising the policy framework, noting Vietnam's institutional reforms and productivity gains for medium-term growth.
Policy & regulationInternational standards & recommendationsCross-border cooperation
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2025-06-24•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority imposed a CAD 75,000 penalty on Peter Ho Chiu Chu and 168 Rock Solid Homes Ltd. for unlicensed rental property management services, and a CAD 50,000 penalty on Rui (Rena) Liang and Rena Liang Personal Real Estate Corporation for related professional misconduct. Chu's activities spanned eight years, involving at least 31 properties, while Liang's misconduct included supporting Chu and misusing her corporation for a CAD 500,000 loan. Both face additional costs and remedial actions.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-24•Thailand•Ministry of Finance (Thailand)
Thailand's Ministry of Finance has received two shortlisted nominees for the next Governor of the Bank of Thailand from the selection committee. The committee concluded its mandate after interviewing candidates and reviewing their vision presentations. The Minister of Finance will now decide which nominee to propose to the Cabinet for royal appointment.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-06-24•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission announced a jury verdict in the U.S. District Court for the Southern District of California finding Thomas F. Casey liable for securities fraud. The scheme targeted retirees, inducing over 200 individuals to invest more than USD 10 million in Golden Genesis with false promises of high returns and secured investments. The SEC reported that the funds were misused, leading to approximately USD 8 million in losses.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-24•Angola•Ministry of Finance (Angola)
The Angola Ministry of Finance reported on a Luanda meeting of Southern African stock exchanges organized by BODIVA that focused on institutional strengthening, regulatory harmonization and regional market integration. Discussions also covered product development, capacity building and progress on CoSSE's strategic plan for the current year.
Policy & regulationCooperationMarket developmentDomestic cooperation
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2025-06-24•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has approved tokenisation rules under General Resolution 1069, establishing a regime for financial trusts and closed-end mutual investment funds focused on real world and non-listed assets. This framework follows a public consultation and involves collaboration with key financial entities. A second stage of the tokenisation rules is in progress.
Policy & regulationRules & requirementsTokenization
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2025-06-24•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority issued a letter to Registrable Superannuation Entity licensees detailing initial observations, best practices, and areas for improvement to enhance compliance with legal duties and improve member outcomes, with a focus on expenditure outcomes and members' best financial interests.
SupervisionSupervision approach, priorities & toolkitCorporate governance
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2025-06-24•Luxembourg•Ministry of Finance (Luxembourg)
The Luxembourg Ministry of Finance summarized Finance Minister Gilles Roth's participation in Eurogroup and Ecofin meetings, focusing on euro area fiscal developments, competitiveness, the digital euro, and Bulgaria’s euro area accession. Eurogroup ministers reviewed budgetary developments and the digital euro, while Ecofin addressed customs tax reform and energy developments. Roth emphasized Luxembourg’s support for the digital euro, noting unresolved legal questions.
Policy & regulationOtherMonetary policy decisions and developments
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2025-06-24•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate at 6.00% on 24 June 2025, where it has remained since January, citing solid domestic activity, inflation expectations aligned with the 3.5% target over the policy horizon, and higher external uncertainty linked to Middle East tensions and oil price volatility. The Committee said May annual inflation was 3.6% and 12-month inflation expectations eased to 3.7%, and it reiterated that it will closely monitor domestic and external developments to ensure compliance with the target.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-06-24•South Korea•Bank of Korea
The Bank of Korea's June 2025 Consumer Tendency Survey shows the Composite Consumer Sentiment Index rose to 108.7, a 6.9-point increase from May.
Data & statisticsEconomic data and developments
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2025-06-24•Moldova•National Bank of Moldova
The National Bank of Moldova reported a meeting between Governor Anca Dragu and Irena Radović, Governor of the Central Bank of Montenegro, focusing on institutional transformation, European integration, and SEPA engagement. The discussion emphasized cooperation on enhancing women's leadership in the financial sector. Both central banks, led by women for the first time, expressed commitment to deepening cooperation and sharing reform experiences.
Policy & regulationCooperationCross-border cooperation
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2025-06-24•Moldova•National Bank of Moldova
The National Bank of Moldova's First Deputy Governor, Petru Rotaru, attended a workshop to align Moldova's anti-money laundering and counter-terrorist financing framework with EU standards. The event focused on strengthening AML/CFT capabilities and discussed the EU's legislative package, including Directive (EU) 2024/1640 and Regulation (EU) 2024/1624. Rotaru highlighted Moldova's progress in financial integrity, noting acceptance into SEPA and improvements cited in a MONEYVAL report.
Policy & regulationCooperationAML and CFT
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2025-06-24•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury and HM Treasury reaffirmed bilateral cooperation following the 11th U.S.-UK Financial Regulatory Working Group meeting, focusing on financial stability, regulatory developments, and digital finance. Discussions included economic outlooks, non-bank financial intermediation, banking regulation, cybersecurity, digital assets, and capital markets reforms. The group plans to reconvene by early 2026.
Policy & regulationCooperationCross-border cooperationRegtech and suptech
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2025-06-24•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that foreign currency denominated life insurance products saw new-policy premium revenue of NT$124.945 billion as of end-April 2025, a 30% increase year on year. Investment-linked products contributed NT$19.268 billion, up 36%, while traditional products accounted for NT$105.677 billion, up 29%.
Data & statisticsFinancial and market indicators
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2025-06-24•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has fined an exchange house AED 2,000,000 for non-compliance with anti-money laundering and counter-terrorist financing regulations, following an examination. The penalty was issued under Article 137 of Decretal Federal Law No. 14 of 2018, as amended.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-23•Israel•Bank of Israel
The Bank of Israel's first-quarter 2025 update reports a 1.3% increase in nonfinancial private sector debt, totaling approximately NIS 2.3 trillion, with business sector debt rising by 1.5% to NIS 1.4 trillion and household debt increasing to NIS 855 billion, primarily due to housing debt growth.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-06-23•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in an investor roundtable at the 25th Annual General Assembly of African Trade & Investment Development Insurance, focusing on reducing the cost of capital in Africa. Discussions highlighted the role of capital markets in expanding financing options and lowering funding costs, with emphasis on Angola's Privatization Programme and the use of multilateral guarantees.
Policy & regulationCooperationCross-border cooperation
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2025-06-23•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released a discussion paper seeking input on integrating funds supervisory reporting to ease compliance burdens in asset management. The paper proposes centralizing processes and infrastructure to address fragmentation from national and EU-level regimes. This initiative is part of ESMA's broader effort to simplify and reduce reporting burdens, moving towards a more integrated approach like financial transaction reporting.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-06-23•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority issued a note on best practices for internal controls and employee screening in financial firms to mitigate risks like money laundering and terrorist financing. Based on firm responses and supervisory insights, it covers hiring practices, ongoing monitoring, and handling suspicious employee behavior. The note is not legal guidance and introduces no new requirements.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-23•British Virgin Islands•Ministry of Finance (British Virgin Islands)
The British Virgin Islands Ministry of Finance issued a policy on accessing beneficial ownership information for BVI business companies and limited partnerships, focusing on AML, CFT, and CPF purposes. The framework, with privacy safeguards, allows requests via the VIRRGIN platform for individuals with 25% or more ownership, with an objections process. This policy is part of broader reforms since early 2024, with draft regulations and industry consultations forthcoming.
Policy & regulationRules & requirementsBeneficial ownership
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2025-06-23•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro's Vice-Governor, Zorica Kalezic, opened the CEF Forum 2025, highlighting reform milestones to enhance services and support Montenegro's European integration. Key initiatives include joining the Single Euro Payments Area, developing a national instant payment system, aligning regulations with EU standards, and a strategic plan for 2025–2028. The forum also featured discussions on institutional capacity building in Southeast Europe.
Policy & regulationReform agendas & prioritiesOther
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2025-06-23•Australia•Australian Securities & Investments Commission
The Federal Court dismissed Reginald Lance Williams' appeal against the Companies Auditors Disciplinary Board's decision to cancel his auditor registration and ordered him to pay ASIC's costs. The CADB's 2018 decision followed Williams' inadequate performance in auditing the LM Managed Performance Fund's 2012 financial report. The Court upheld the CADB's expertise and procedural fairness in its June 2025 judgment.
EnforcementInvestigations & enforcement actionsAuditing
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2025-06-23•Belgium•Belgium Financial Services and Markets Authority
Belgium's Financial Services and Markets Authority (FSMA) approved amendments to the market rules for Euronext Brussels and the Euronext Brussels Derivative Instruments Market. The approval, granted on 3 June 2025 under Article 34, §1 of the Law of 21 November 2017, aligns with Directive 2014/65/EU. The updated rules are available on Euronext’s website.
Policy & regulationRules & requirementsMarket infrastructure
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2025-06-23•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority fined Arabi Holding Group Company and executives for violating disclosure, transparency, and corporate governance rules. Breaches included not disclosing a KWD 7,430,316 settlement, issuing misleading disclosures, and non-compliance with financial reporting standards. Fines ranged from KWD 5,000 to KWD 10,000.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-06-23•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KWD 5,000 penalty on Burgan Company for Well Drilling, Trading and Maintenance for breaching disclosure and transparency requirements. The company failed to disclose material litigation developments, including first-instance and appeal judgments, in a timely manner, only disclosing the cassation judgment in December 2024. This violation pertains to Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-06-23•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KD 3,000 penalty on Giad Holding Company for breaching disclosure and transparency requirements. The company failed to update its insiders list within five working days, as mandated by Clause (2) of Article (3-5-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010. The violation involved not disclosing changes related to the board secretary's status on the insiders list.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-06-23•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority's Disciplinary Board issued a warning to Securities House Company for breaches in promotional advertising of its automated investment adviser service, "Robo Zad." The violations included omissions of required disclosures and incorrect historical returns in ads on Instagram. The penalty includes a warning and a caution against repeating the conduct.
EnforcementInvestigations & enforcement actions
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2025-06-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) prioritizes regulating financial advice, targeting high-pressure sales and adviser qualifications. ASIC warns against online promotions for high-risk investments and mandates adviser qualification standards by January 2026. A review of offshore outsourcing focuses on governance and data protection. Enforcement includes court actions, investigations, and a social media campaign for consumer guidance. Licensees must verify qualifications and report misconduct, aided by a temporary ASIC dataset.
Policy & regulationReform agendas & prioritiesConsumer and investor protection
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2025-06-23•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group released a video on using the VSME Digital Template and Template to XBRL Converter for digitalising sustainability reporting by SMEs. It details features like interactive checkboxes and automatic calculations, and demonstrates converting files into machine-readable reports using the open-source converter. AI-translated versions and related resources are available on EFRAG's webpage.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-06-23•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has initiated a call for evidence to simplify supervisory reporting under its Data Strategy, aiming to reduce costs while maintaining transparency. ESMA is pausing changes to MiFIR reporting rules during this consultation, addressing industry concerns about overlapping obligations and unsynchronized regulatory changes. Two simplification approaches are proposed: removing overlaps or adopting a unified "report once" template.
Policy & regulationImplementation, projects & pilotsRegulatory burdenRegulatory reporting
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2025-06-23•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority has received and is reviewing the first interim report from independent investigators on Nordea Denmark's debt collection case. The report is available on Nordea's website.
SupervisionReviews, inspections & stress testsOther
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2025-06-23•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market's May 2025 digest reports a rise in organized market turnover to UAH 78.2 billion, driven by government bonds. Unorganized market turnover increased to UAH 55.8 billion, with significant activity in government and corporate bonds, CIF shares, and investment certificates. The Commission will maintain open access to statistical data and analytics for market participants.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority (CMA) approved Jamjoom Fashion Trading Company's application to register and offer 2,384,340 shares, representing 30% of its share capital, on the Parallel Market, limited to Qualified Investors. The CMA emphasized that its approval is not an investment recommendation but confirms compliance with legal requirements. The approval is valid for six months from the resolution date.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Alwazn Almithali for Trading Company's application to register and offer 451,500 shares in the Parallel Market, representing 15% of its share capital. The offer is limited to Qualified Investors as per the CMA's Glossary of Defined Terms. The approval is valid for six months and is not an investment recommendation.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Quencia Capital Company's public offering of the Quencia Saudi Equity Fund. Investors are advised to review the fund's terms, conditions, and risk factors, and to consult the fund manager for any clarifications. The approval confirms compliance with legal requirements under the Capital Market Law and its Implementing Regulations, not a subscription recommendation.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-23•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus, as chair of the SWIFT National User Committee, convened an online meeting with SWIFT and Cypriot financial institutions to discuss the transition to the ISO 20022 messaging standard and its implications for payments. The meeting also covered SWIFT's support for the SEPA Validation of Payee initiative and updates on payment speed, transparency, regulatory compliance, and anti-fraud measures.
Policy & regulationCooperationCross-border paymentsPayments and payment systems
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2025-06-23•Peru•Central Bank of Peru
The Central Bank of Peru reported a 190.2% year-on-year increase in non-traditional fishery exports to USD 272 million in April, driven by a 140.1% rise in volumes due to increased pota biomass. From January to April 2025, exports reached USD 663 million, up 51.2% year-on-year, with volumes and prices rising 24% and 21.9%, respectively.
Data & statisticsBalance of payments and other external statistics
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2025-06-23•Samoa•Central Bank of Samoa
The Central Bank of Samoa has activated the Instant Funds Transfer functionality within the Samoa Automated Transfer System, allowing real-time transfers between commercial bank clients. This service supports small-value payments up to $1,000 and aims to enhance secure retail payment options. Future plans include integrating government financial services into SATS and further retail service enhancements over the next two years.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-23•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia met with Subir Lall from the IMF to discuss regional cooperation, focusing on the IMF’s Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia (CCAMTAC). The meeting reviewed CCAMTAC’s recent activities and future work program, emphasizing the importance of IMF support. Turnava also highlighted the National Bank's interest in educational initiatives through the “Educational Space Project.”
Policy & regulationCooperationCapacity buildingDomestic cooperation
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2025-06-23•Georgia•National Bank of Georgia
The National Bank of Georgia released a draft Market Conduct Supervision Strategy for 2025–2027, outlining its approach to market conduct supervision and consumer protection. The strategy aims to enhance transparency regarding the bank's vision, priorities, and planned actions, and includes evaluation indicators and a monitoring process.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protection
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2025-06-23•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released its Decarbonisation Programme, assessing its greenhouse gas footprint and setting near-term reduction goals. ASF aims to cut fleet CO2 emissions by at least 50% by 2029 and explore renewable electricity sources by 2030. The programme is managed by the ASF Board, with support from a Sustainability Committee and a Decarbonisation Programme Manager.
Institutional developmentOtherClimate risk and sustainable finance
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2025-06-23•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance released Minister Kyriakos Pierrakakis’ speech urging banks to move beyond post-crisis caution and enhance funding for the real economy, particularly SMEs and new national champions. He highlighted public dissatisfaction with banks' services and emphasized leveraging the current recovery to boost investment and growth. The Minister noted geopolitical risks but expressed confidence in Greek banks' resilience and the domestic economy's strength as buffers against external challenges.
Policy & regulationReform agendas & prioritiesMarket development
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2025-06-23•Portugal•Bank of Portugal
The Bank of Portugal reported a EUR 4.4 billion increase in non-financial sector indebtedness for April 2025, reaching EUR 829.5 billion, driven by public sector debt. Public sector indebtedness rose due to higher external debt and increased deposit liabilities, while private sector debt remained stable with a slight increase in household debt offsetting a decrease in private company debt.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-23•Laos•Bank of the Lao
The Bank of the Lao PDR announced senior leadership changes, including Bounkham Volachit's transfer from the Ministry of Natural Resources and Environment to the central bank and his appointment as Secretary of the Bank’s Party Executive Committee. The event, chaired by Deputy Prime Minister Saleumxay Kommasith, also covered the appointment of a deputy secretary and a deputy governor, and a review of the Bank’s 2025 plans.
Institutional developmentLeadership change & appointmentsOther
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2025-06-23•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) released an updated factsheet and a new External Dispute Resolution (EDR) response guide to address complaints about general insurance premium increases, clarifying complaint handling under its Rules and aiding firms in efficient dispute resolution.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-06-23•Belize•Central Bank of Belize
The Central Bank of Belize has licensed CRIF Information Services Belize Limited as the country's first credit bureau, establishing a comprehensive credit reporting system. CRIF will collect and maintain credit data to generate reports and scores for lenders, under the supervision and regulation of the Central Bank. The bureau is anticipated to launch later this year after testing and stakeholder preparation.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-23•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau is consulting on proposals to enhance regulation of licensed money lenders, aiming to curb excessive borrowing and promote responsible lending. Key measures include stricter regulation of unsecured personal loans, improved protection for loan referees, and optimised affordability assessments. Feedback will be considered in finalising the proposals.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-23•Gibraltar•Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission (GFSC) released presentation slides from its annual Insurance Industry Event, detailing supervisory priorities and operational updates. CEO Kerry Blight introduced a new portal feature for RI applications, confirmed Q1 SLS target achievements, and updated on the Gibraltar Authorisations Regime. The event also covered future-proofing themes, operational resilience, and the GFSC’s Digital Transformation Strategy.
SupervisionSupervision approach, priorities & toolkitOperational risk and resilience
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2025-06-23•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru’s Superintendency of Banking, Insurance and Pension Funds (SBS) has revised the registration framework for regional or provincial traffic accident fund associations (Afocat), mandating SBS prior authorisation for bylaw changes. Previously, Afocat did not require such authorisation, despite managing traffic accident funds and issuing Traffic Accident Certificates (CAT) for public transport units.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-23•Global•International Financial Reporting Standards Foundation
The IFRS Foundation has issued guidance to help entities apply IFRS S2 Climate-related Disclosures, focusing on transition plans. It aims to enhance disclosure quality and comparability, using material from the Transition Plan Taskforce. While IFRS S2 doesn't mandate a transition plan, it requires disclosing material sustainability-related risks and opportunities.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-06-23•Global•International Financial Reporting Standards Foundation
The International Accounting Standards Board (IASB) issued a revised Practice Statement on management commentary to enhance narrative reporting's quality and global alignment with financial statements. This update addresses investor-identified shortcomings and serves as a benchmark for regulators updating national requirements. The development was coordinated with the International Sustainability Standards Board (ISSB) to align financial and sustainability reporting.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-06-23•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority reported a 5.1% decline in foreign currency lending to private households in Q1, reducing the outstanding stock to EUR 5.75 billion, or 3.3% of all household loans. Since the 2008 ban on new foreign currency loans, the volume has decreased by 90%, with nearly all remaining loans in Swiss francs. The FMA anticipates most bullet loans will mature between 2029 and 2033, urging annual meetings between borrowers and lenders.
Data & statisticsFinancial and market indicatorsForeign exchange policy and markets
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2025-06-23•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) released its 2024 Annual Report, highlighting regulatory, supervisory, and enforcement activities focused on market integrity, financial stability, and investor protection. Key initiatives included consultations on digital operational resilience and crypto-assets, thematic reviews on audit and asset management, and enforcement actions resulting in 24 condemnations and EUR 527,500 in fines. The report noted the extension of alternative dispute resolution to investment firms and the completion of 85% of the 2022–2024 Strategic Plan objectives.
OtherOperational excellenceSupervision process and methodologies
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2025-06-23•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and The Hong Kong Association of Banks launched the “Smart Seniors Anti-Scam Ambassador Programme” to enhance anti-scam outreach to elderly residents. The initiative includes visits to elderly centres and “Money Safe” protections for deposits, with 14 banks implementing interim measures by June's end and full implementation by all retail banks by year-end. Eligibility and service details may vary, with some banks limiting services to customers aged 65 or above.
Financial literacy & educationFraud and scamsConsumer and investor protection
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2025-06-23•Europe•European Central Bank
The European Central Bank released the Eurosystem's consolidated balance sheet as of 31 December 2024, showing total assets and liabilities of EUR 6,420,536 million, down from EUR 6,887,265 million the previous year. Key changes include an increase in gold and gold receivables to EUR 872,156 million and a decrease in securities of euro area residents to EUR 4,532,962 million. Liabilities to euro area credit institutions fell to EUR 2,991,283 million, mainly due to a reduction in the deposit facility.
Data & statisticsBalance of payments and other external statistics
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2025-06-23•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait launched the Buy Now Pay Later (BNPL) Project as part of its Initiative Accelerator Program, inviting regulated entities to participate in this initiative aimed at fostering innovation in the Kuwaiti financial sector.
Policy & regulationImplementation, projects & pilotsBNPL
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2025-06-23•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan's Compliance Council met with government regulators and financial organisations to discuss preventing illegal banking activities and enhancing cooperation. Topics included monitoring suspicious transactions, updating procedures for freezing terrorism-linked assets, and sharing best practices to prevent misuse of bank accounts. Proposals were submitted to improve coordination, with the Compliance Council advising the interagency commission on AML/CFT/CPF.
SupervisionCooperationAML and CFTCompliance
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2025-06-23•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in a forum discussing the impacts of Brazil's new insurance legal framework on cargo shippers, transport operators, and insurers. The panel focused on the implications of Law No. 15.040/2024, Law No. 14.599/2023, and CNSP Resolution No. 472/2024 on logistics and risk management. Broader topics included ESG, compliance, and insurance's role in transport-sector sustainability.
OtherClimate risk and sustainable finance
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2025-06-23•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has released the Union Collection Guides (GRUs) for the 3rd quarter 2025 supervision fee, with payment due on 10 July 2025. The GRUs are accessible via the SUSEP website, and support channels are available for related inquiries.
Policy & regulationImplementation, projects & pilotsLicensing and supervisory fees
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2025-06-23•Spain•Bank of Spain
The Bank of Spain released Q1 2025 statistics showing Spain's net international investment position worsened to -44.5% of GDP (EUR -717.4bn), while gross external debt was 162% of GDP (EUR 2.612trn). Net lending increased to 3.9% of GDP (EUR 63.5bn), driven by a larger services surplus offsetting a wider goods deficit.
Data & statisticsBalance of payments and other external statistics
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2025-06-23•South Africa•South African Reserve Bank
The South African Reserve Bank's Working Paper introduces NiGEM-SA, a new macroeconometric model for South Africa within the global NiGEM system. It aims to enhance analysis of global spillovers and climate-related shocks, featuring a detailed financial sector representation. The model includes a banking sector module linking credit conditions and regulatory shocks to economic outcomes, with simulations illustrating impacts of currency depreciation, carbon price increases, and changes in bank capital adequacy.
Research
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2025-06-23•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) updated the segmentation of closed private pension entities (EFPC) for 2026, affecting supervision and regulatory treatment. The new classification, effective 1 January 2026, allocates entities into four segments based on size and complexity. PREVIC aims to enhance regulatory proportionality by balancing information requirements and compliance costs with supervisory needs.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-06-23•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
During Risk Management Week, the Dominican Republic's Superintendency of Banks highlighted measures to mitigate risks in information security, staff, and operational continuity. Superintendent Alejandro Fernández W. attributed recent progress to a 2020 institutional transformation, leading to international certifications and infrastructure upgrades. The Superintendency is pursuing a compliance certification and conducted internal outreach, including staff training and a cybersecurity session for employees' children.
Institutional developmentCooperation & capacity buildingOperational risk and resilience
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2025-06-23•Oman•Central Bank of Oman
The Central Bank of Oman’s Board approved the CBO Strategy for 2026–2030 and the draft Close Out Netting Law, and appointed an external auditor for 2025–2027. The meeting reviewed banks’ financial soundness indicators, CBO’s financial position, reserve levels, foreign investments, and liquidity reports. Global and regional developments were also discussed for their potential impact on Oman.
Policy & regulationRules & requirementsOther
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2025-06-23•Vietnam•Vietnam State Securities Commission
Vietnam’s Ministry of Finance and the Vietnam State Securities Commission released a document summarizing stakeholder feedback on a draft circular amending financial safety indicators for securities businesses. The document outlines accepted changes and explanations, relating to amendments of Circular 91/2020/TT-BTC. This publication is part of the procedural requirements under Decree 78/2025/ND-CP.
Policy & regulationGuidance & interpretationPrudential risksSupervision process and methodologies
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2025-06-23•Serbia•National Bank of Serbia
The National Bank of Serbia's Commission for Taking the Professional Exam for Acquiring the Title of Certified Actuary announced the final list of candidates who passed the June 2025 exam. The successful candidates are Vera R. Tešic, Isidora P. Catic, and Ivana V. Stanoevski.
SupervisionAuthorisations & approvalsOther
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2025-06-23•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released the agenda for its Board meeting on 30 June 2025, addressing IT security policies and supervisory, authorisation, and governance issues across various financial sectors. Key items include a proposed inspection at Union Bank, updates on the financial position of private pension and collective investment markets, and votes on fund approvals and senior appointments.
Institutional developmentGovernanceIT management
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2025-06-23•Global•Institute of International Bankers
The Institute of International Bankers submitted a comment letter to the Federal Reserve Board recommending changes to the annual stress test framework for US operations of internationally headquartered banks. Key suggestions include revising the global market shock threshold to exclude Category III and below firms, eliminating the dividend add-on for intermediate holding companies, and excluding these companies from operational risk elements in future Basel III proposals.
Policy & regulationOtherStress testing
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2025-06-23•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a scam alert regarding Copypro Market Ltd, which falsely claims to be licensed by the Authority. The entity is not known to the FSA, holds no valid licence, and the cited licence number belongs to another regulated entity. The FSA advises the public to conduct thorough research before engaging with such entities.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-06-23•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 25,000 penalty on Murteza Mohamedali and added conditions to his insurance agent licence. The Financial Services Tribunal found Mohamedali violated Ontario Regulation 347/04 by falsely representing premium funds' sources on life insurance applications.
EnforcementInvestigations & enforcement actions
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2025-06-23•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency reported growth in May 2025 for pension fund assets, positive net inflows into UCITS, and increased insurance premiums, despite a decline in Zagreb Stock Exchange turnover. Mandatory pension funds rose 1.8% to EUR 24.3bn, voluntary pension funds increased 1.6% to EUR 1.49bn, insurance premiums rose 8.7% to EUR 844.0m, and UCITS net assets grew 1.3% to EUR 3.6bn.
Data & statistics