Regxplora • Regulatory and Central Bank Updates • Page 403

2025-06-16GlobalInternational Financial Reporting Standards Foundation

International Financial Reporting Standards Foundation’s IASB proceeds with seven illustrative examples on reporting uncertainties in financial statements

The International Accounting Standards Board (IASB) will proceed with seven illustrative examples to enhance reporting of uncertainties in financial statements, using climate-related scenarios. These examples aim to address inconsistencies between financial statements and other reports, demonstrating the application of IFRS Accounting Standards. A near-final draft is anticipated in early Q3 2025, with the final document expected in October 2025.

Policy & regulationGuidance & interpretationClimate risk and sustainable finance

2025-06-16KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves Talgat Salikhov and Andrey Usov as independent directors in the securities market

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Talgat Salikhov and Andrey Usov as independent directors and governing body members of Teniz Capital Investment Banking JSC and the securities market, respectively, under protocols No. 246/RCB and 247/RCB.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-06-16Hong KongHong Kong Monetary Authority

Hong Kong Monetary Authority issues scam alert covering fraudulent bank websites, login screens and social media accounts

The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake banking login screens, and phishing emails involving banks like The Bank of East Asia and Dah Sing Bank. The alert stresses that banks won't send SMS or emails with hyperlinks for transactions or request sensitive information like passwords. Affected individuals should contact their bank and report to the Hong Kong Police Force.

SupervisionAlertsFraud and scams

2025-06-16ZimbabweReserve Bank of Zimbabwe

Reserve Bank of Zimbabwe Holds Bank Policy Rate at 35%

The Reserve Bank of Zimbabwe kept the bank policy rate at 35% in June 2025 and left statutory reserve requirements unchanged, citing improved domestic macroeconomic conditions and the need to preserve price and exchange-rate stability, while maintaining tight liquidity management through recalibrated open market operations. The Monetary Policy Committee projected 6% gross domestic product growth in 2025, said annual ZiG inflation rose to 92.1% in May due to base effects but should fall below 30% by end-2025, and noted continued deepening of the foreign exchange interbank market with reserves fully covering ZiG reserve money and local-currency deposits.

Monetary policyPolicy rate decisionsMonetary policy decisions and developments

2025-06-16BulgariaNational Bank of Bulgaria

National Bank of Bulgaria publishes May 2025 statistics on the structure of banknotes and coins in circulation

The National Bank of Bulgaria released May 2025 statistical data on banknotes and coins in circulation, available in dynamic series format. The data is presented in the "Statistics of banknotes and coins in circulation" section, with an accompanying dissemination calendar.

Data & statisticsCurrency and cash management

2025-06-16GlobalBank for International Settlements

Bank for International Settlements survey finds households still expect about 8% inflation despite rates nearing targets

The Bank for International Settlements published research showing household inflation expectations remain high despite observed inflation nearing central bank targets. A survey across 29 economies showed median expected inflation at 8% over the next 12 months, with perceived cumulative price increases significantly impacting expectations. The study suggests enhancing central bank communications and financial literacy to better anchor inflation expectations.

Research

2025-06-16IndiaReserve Bank of India

Reserve Bank of India replaces 2018 electronic trading platform rules with new master directions effective immediately

The Reserve Bank of India (RBI) issued the Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2025, updating the authorisation and operating framework for electronic trading platforms (ETPs) and superseding the 2018 directions. The framework mandates prior RBI authorisation for ETPs, defines eligible instruments, and outlines operating requirements, including transparency, risk management, and technology standards. Exemptions apply to systems operated by scheduled commercial banks or standalone primary dealers, with the RBI retaining oversight and reporting authority.

Policy & regulationRules & requirementsTrading

2025-06-16IndiaReserve Bank of India

Reserve Bank of India revises agency commission rates for agency banks’ government business and expands commission coverage for payment transactions

The Reserve Bank of India revised agency commission rates under the Master Circular on Conduct of Government Business by Agency Banks, effective 1 April 2025. New rates include INR 40 per transaction for physical receipts, INR 12 for e-mode receipts, and INR 80 for pension payments, with 7 paise per INR 100 for other payments. Commission is payable on all transactions except pre-funded ones or where government compensation is provided, with other Master Circular instructions unchanged.

Policy & regulationRules & requirementsPayments and payment systems

2025-06-16United StatesFederal Reserve Bank of Atlanta

Federal Reserve Bank of Atlanta appoints Alexander Monge-Naranjo as vice president and senior economist in Research

The Federal Reserve Bank of Atlanta appointed Alexander Monge-Naranjo as vice president and senior economist in its Research Division. Monge-Naranjo, who joined the Atlanta Fed full-time in June 2025, will lead a team of economists with a focus on macroeconomics and human capital.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-06-16ThailandThailand Office of Insurance Commission

Thailand's Office of Insurance Commission partners with Bangkok Metropolitan Administration to study insurance coverage for frontline workers and communities

Thailand's Office of Insurance Commission and the Bangkok Metropolitan Administration will study insurance for high-risk frontline personnel and community volunteers. The study will explore coverage for municipal officers, disaster responders, and others, focusing on insurance for government and private assets, group insurance, and legal requirements. Ongoing coordination is planned as the framework and insurance design progress.

Policy & regulationCooperationCross-border cooperation

2025-06-16LiechtensteinLiechtenstein Financial Market Authority

Liechtenstein Financial Market Authority updates guidelines to align with the EU Investment Firm Directive and adds new supervisory provisions

The Liechtenstein Financial Market Authority has updated its guidelines to align with Directive (EU) 2019/2034 (Investment Firm Directive, IFD), revising and adding several sections for enhanced supervision. Key changes include updates to points 1, 3.2, 3.3, and 4.1, new provisions in points 5.5 to 5.8, and further specifications in points 5.1, 5.4, 6.1, and 8.1. The guidelines have also been reformatted to match the FMA's current standards.

Policy & regulationGuidance & interpretationRegulatory reporting

2025-06-16PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines authorises the consolidation of four rural banks into Agribank

The Central Bank of the Philippines announced the consolidation of four rural banks into Agribusiness Banking Corporation – A Rural Bank, known as Agribank. Approved by Monetary Board Resolution No. 88, the new entity received its Certificate of Authority from Bangko Sentral ng Pilipinas and commenced operations on 16 June 2025.

SupervisionAuthorisations & approvalsLicence approval

2025-06-16BrazilBrazilian Pension Funds Authority (PREVIC)

Brazilian Pension Funds Authority (PREVIC) swears in 30 new civil servants and launches six-week onboarding under CPNU recruitment

The Brazilian Pension Funds Authority (PREVIC) held a swearing-in ceremony for 30 new civil servants, starting a six-week onboarding programme. These appointments are part of 40 positions for Administrative Analyst and Supplementary Pension Specialist roles, linked to regulatory revisions, technology investment, and workforce reinforcement. PREVIC noted that pension funds manage around 11% of national GDP and announced plans to fill remaining vacancies and prepare for further recruitment next year.

Institutional developmentWorkforce & recruitmentHiring and recruitment

2025-06-16PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines reports April 2025 personal remittances up 4.1% to USD 2.97 billion

The Central Bank of the Philippines reported a 4.1% year-on-year increase in personal remittances to USD 2.97 billion in April 2025, with cumulative remittances for January to April rising 3.0% to USD 12.37 billion. Cash remittances through banks grew 4.0% to USD 2.66 billion in April, driven by higher inflows from the United States, Saudi Arabia, Singapore, and the UAE. The United States accounted for the largest share of total cash remittances, though the central bank noted limitations in country-source attribution.

Data & statisticsBalance of payments and other external statistics

2025-06-16ItalyItalian Institute for Insurance Supervision (IVASS)

Italian Institute for Insurance Supervision warns FWU Life Insurance Lux policyholders about new service offers including gold investments during liquidation

IVASS warned FWU Life Insurance Lux S.A. policyholders about new investment opportunities, including gold, to limit losses. This follows a warning from Luxembourg’s Commissariat aux Assurances about FWU's liquidation. IVASS advises caution, legitimacy verification, and consulting consumer associations if in doubt.

SupervisionAlertsFraud and scams

2025-06-16SerbiaNational Bank of Serbia

National Bank of Serbia reports Dina card installment turnover rose 27% to RSD 13bn in 2024

The National Bank of Serbia reported a 27% increase in installment payments using the Dina card, reaching RSD 13bn in 2024. Dina cardholders at select banks can pay in installments without additional credit, with over 15,000 points of sale in Serbia offering this service. The service is positioned as a faster alternative to cheque-based payments.

Policy & regulationImplementation, projects & pilotsBNPL

2025-06-16SerbiaNational Bank of Serbia

National Bank of Serbia updates list of systemically important banks and sets 1%–2% capital buffer rates

The National Bank of Serbia has established a list of systemically important banks and set capital buffer rates of 1% or 2% based on systemic importance. These measures are part of the bank's capital adequacy framework, with updates occurring at least annually. The decision takes effect on 30 June 2025.

Policy & regulationRules & requirementsCapital adequacyFinancial stability and systemic risk

2025-06-16BrazilBrazil Securities Commission (CVM)

Brazil Securities Commission highlights Brazil’s timetable to make ISSB sustainability standards mandatory

The Brazil Securities Commission (CVM) is recognized in an IFRS Foundation report for its commitment to adopting ISSB sustainability reporting standards, with mandatory adoption scheduled. The CVM's 2025 agenda includes sustainability reporting, surveys on CBPS 01 and CBPS 02 aligned with IFRS S1 and S2, and analysis of CVM Resolution 59 on ESG disclosures. Resolution 227 amendments facilitate voluntary adoption, with deadlines for listed companies to declare adoption by the end of 2024 and 2025.

Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance

2025-06-16BrazilBrazil Securities Commission (CVM)

Brazil Securities Commission approved to join the Brazilian Intelligence System as an associated body

Brazil’s Securities Commission (CVM) will join the Brazilian Intelligence System (Sisbin), enhancing cooperation with the Brazilian Intelligence Agency (ABIN) and others. This partnership aims to exchange strategic information on threats like organised crime, terrorism, and corruption, supporting CVM's efforts in combating money laundering. CVM's entry into Sisbin is pending a joint Work Plan with ABIN as outlined by Ordinance No 2,091/2024.

SupervisionCooperationAML and CFTDomestic cooperation

2025-06-16BrazilBrazil Securities Commission (CVM)

Brazil Securities Commission schedules sanctioning judgment in conflict-of-interest case involving Romes Gonçalves Ribeiro

The Brazil Securities Commission (CVM) will hold a public judgment session on 17 June to assess Romes Gonçalves Ribeiro's potential breach of conflict-of-interest laws. The case involves allegations of accepting a role with a competitor and omitting information about a formal link with a competitor, violating Law 6,404 and Law 13,303. The session will be held at CVM's headquarters with an option for videoconference participation.

EnforcementInvestigations & enforcement actionsCorporate governance

2025-06-16PolandMinistry of Finance (Poland)

Poland's Ministry of Finance outlines FATF and MONEYVAL discussions and Poland’s preparations for an AML CFT CFP evaluation

Poland's Ministry of Finance reported on a multi-agency delegation's participation in FATF and MONEYVAL meetings in Strasbourg, discussing updates to FATF lists, Russia's membership, and initiatives on financial exclusion and de-risking. The plenary adopted Latvia's mutual evaluation report, highlighting its effective AML/CFT/CFP system. Discussions also covered Poland's preparations for its evaluation, emphasizing inter-institutional cooperation and potential risks of negative outcomes.

Policy & regulationCooperationCross-border cooperation

2025-06-16PhilippinesPhilippine Securities and Exchange Commission

Philippine Securities and Exchange Commission revokes registrations and operating licences of 401 lending companies over reporting non-compliance

The Philippine SEC cancelled the registrations and licences of 401 lending companies for not complying with reportorial requirements. The SEC cited non-submission of audited financial statements and other reports, despite an amnesty programme in October 2023. Revocations were based on the Revised Corporation Code and SEC rules allowing action after a six-month grace period.

EnforcementInvestigations & enforcement actionsAuditing

2025-06-16CanadaFinancial Services Regulatory Authority of Ontario

Financial Services Regulatory Authority of Ontario releases phased strategic plan for P&C insurance market conduct supervision

The Financial Services Regulatory Authority of Ontario has released a strategic plan for market conduct supervision in property and casualty insurance, emphasizing a risk-based approach to enhance consumer protection and public confidence. The plan aims to prioritize supervisory activities, reduce regulatory burdens, and promote sound market practices. FSRA will use tools like thematic reviews and examinations to address conduct issues and engage with the industry as implementation progresses.

SupervisionSupervision approach, priorities & toolkitConsumer and investor protectionSupervision process and methodologies

2025-06-16GlobalTaskforce on Nature-related Financial Disclosures

Taskforce on Nature-related Financial Disclosures starts nature data access pilots to design a Nature Data Public Facility and launches SME assessment technology challenge

The Taskforce on Nature-related Financial Disclosures (TNFD) is advancing efforts to enhance market access to nature data, with recommendations expected at COP30 after consultations and pilot testing. A "Grand Challenge" with the United Nations Development Programme aims to develop technology solutions for SMEs to assess nature-related issues. Over 60 participants will pilot test, focusing on data quality, market use cases, and identifying data gaps.

Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance

2025-06-16GlobalIOSCO

International Organization of Securities Commissions announces World Investor Week 2025 themes on digital finance, artificial intelligence and fraud prevention

IOSCO announced themes for the 9th World Investor Week: Technology and Digital Finance, Artificial Intelligence, and Fraud Prevention. Supported by the G20 Presidency, it addresses risks from algorithm-driven services, data exploitation, and scams. Partner initiatives include the Financial Planning Standards Board’s World Financial Planning Day and a World Federation of Exchanges campaign.

Financial literacy & educationFinancial literacy and educationConsumer and investor protection

2025-06-16GlobalWorld Federation of Exchanges

World Federation of Exchanges publishes global guidance for transitions from T+2 to T+1 settlement

The World Federation of Exchanges has issued guidance on transitioning securities settlement cycles from T+2 to T+1, emphasizing operational readiness, regulatory collaboration, and liquidity management. The guidance draws on global experiences and advises against moving beyond T+1 without clear justification, highlighting the need for careful cost planning and management of cross-border frictions.

Policy & regulationGuidance & interpretation

2025-06-16PolandCentral Bank of Poland

Central Bank of Poland publishes May 2025 core inflation data with CPI at 4.0% and core net of food and energy at 3.3%

The Central Bank of Poland released its May 2025 core inflation indices, with headline CPI at 4.0% year on year and inflation net of food and energy at 3.3%, down from 3.4% the previous month. Other measures include inflation excluding administered prices at 2.5% and the 15% trimmed mean at 3.8%. These indices help identify inflation sources and assess persistence, with the net-of-food-and-energy measure being crucial for inflation targeting.

Data & statisticsMonetary data

2025-06-16MoroccoMoroccan Capital Markets Authority

Moroccan Capital Market Authority approves Attijariwafa Bank prospectus for two unlisted subordinated bond tranches capped at MAD 1.5bn each

The Moroccan Capital Market Authority approved Attijariwafa Bank's prospectus for issuing subordinated bonds in two unlisted tranches, each capped at MAD 1.5 billion with a seven-year maturity. Tranche A offers a fixed rate tied to the seven-year Treasury bills yield curve plus a 50 basis point premium, while Tranche B offers an annually revisable rate tied to the 52-week rate plus a 45 basis point premium. The bonds will be allocated via a pro rata auction and tradable over the counter.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-06-16MoroccoMoroccan Capital Markets Authority

Moroccan Capital Markets Authority registers Attijariwafa Bank’s 2024 reference document for its certificates of deposit programme dossier

The Moroccan Capital Markets Authority registered Attijariwafa Bank’s reference document for the 2024 financial year, updating the information dossier for its certificates of deposit programme. The dossier includes the reference document and the programme note registered in December 2023. It is accessible at the bank's headquarters, its website, and the AMMC website.

SupervisionRegulatory reporting

2025-06-16MoroccoMoroccan Capital Markets Authority

Moroccan Capital Market Authority awards Global Money Week 2025 winners of its Finance Quiz and Comic Strip contests

The Moroccan Capital Market Authority (AMMC) hosted an awards ceremony in Rabat to honor winners of the Quiz Finance and Comic Strip contests during Global Money Week 2025. Quiz Finance, initiated in 2021, engaged over 190 students from six high schools to enhance financial literacy through a mobile app. The Comic Strip contest awarded a prize for originality and contribution to public awareness on budgeting and investing.

Financial literacy & educationFinancial literacy and education

2025-06-16MoroccoMoroccan Capital Markets Authority

Moroccan Capital Market Authority approves prospectus for Wafasalaf subordinated bond issue with two unlisted MAD 200m tranches

The Moroccan Capital Market Authority approved Wafasalaf's prospectus for a subordinated bond issuance, comprising two unlisted tranches with a 7-year maturity and a ceiling of MAD 200,000,000 each. Tranche A offers a fixed rate based on the 7-year Treasury bills yield plus a 70 basis point premium, while Tranche B has an annually revisable rate starting with the 52-week Treasury bills yield plus a 60 basis point premium. The bonds will be allocated via a prorated auction and tradable over the counter.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-06-16MoroccoMoroccan Capital Markets Authority

Moroccan Capital Markets Authority registers WAFASALAF update raising its finance company bills programme ceiling to MAD 11bn

The Moroccan Capital Markets Authority has registered WAFASALAF’s reference document for the 2024 financial year and updated its finance company bills programme, raising the programme ceiling from MAD 7.1bn to MAD 11.0bn. The bills, with a nominal unit value of MAD 100,000, have maturities of two to seven years and carry fixed or variable interest rates.

Policy & regulationRules & requirementsRegulatory reporting

2025-06-16United KingdomHM Treasury

United Kingdom's HM Treasury publishes draft order to regulate buy-now pay-later lenders under the Financial Conduct Authority

HM Treasury has released a draft order to regulate Buy-Now, Pay-Later (BNPL) products under the Financial Conduct Authority (FCA), focusing on interest-free instalment credit by third-party lenders. The proposal includes FCA authorisation and supervision, consumer access to the Financial Ombudsman Service, and tailored disclosure and creditworthiness rules. Implementation will occur in two stages, with BNPL regulation expected by mid-2026.

Policy & regulationRules & requirementsBNPL

2025-06-16United KingdomHM Treasury

HM Treasury to exempt domestic premises suppliers from credit broking permissions when offering BNPL payment options

HM Treasury will amend its proposed Buy-Now, Pay-Later (BNPL) regulatory regime to exempt domestic premises suppliers from needing credit broking permissions. This decision follows industry feedback and aims to prevent small businesses from ceasing BNPL offerings due to regulatory burdens, while maintaining consumer protections. The government and the Financial Conduct Authority will continue to monitor the market for potential consumer harm.

Policy & regulationRules & requirementsBNPL

2025-06-16EuropeEuropean Third Party Providers Association

European Third Party Providers Association calls for targeted simplification of the EU Financial Data Access Regulation without narrowing scope or mandating EU API standards

The European Third Party Providers Association and other fintech groups sent a joint letter to EU policymakers supporting the European Commission’s proposed Regulation on Financial Data Access (FIDA). They endorse open finance measures but oppose reducing the regulation’s scope or imposing prescriptive technical requirements. The letter advocates alignment with the Payment Services Regulation and Payment Services Directive 3, retention of certain entities within scope, and market-led API functionality standards.

Policy & regulationOtherOpen banking and finance

2025-06-16RwandaNational Bank of Rwanda

National Bank of Rwanda sets FRW 5 million to 10 million fines and up to 100% penalties for unauthorized foreign-currency use

The National Bank of Rwanda issued Regulation No. 89/2025, amending the foreign exchange operations framework and imposing sanctions for unauthorized foreign currency activities. Unauthorized pricing or transactions in foreign currency incur fines of FRW 5,000,000 to FRW 10,000,000, or 50% to 100% of the transacted amount. The bank will collaborate with law enforcement to address violations and encourages reporting of illegal activities.

Policy & regulationRules & requirementsForeign exchange policy and markets

2025-06-16SwedenFinansinspektionen

Swedish Financial Supervisory Authority adds five suspected scam firms to its warning list of unauthorised operators

The Swedish Financial Supervisory Authority (Finansinspektionen, FI) added five entities to its warning list for operating without required authorization in Sweden and engaging in fraud. The entities include Lumina Capital Ltd/TradingLevel, MedMera Shore (clone), Pinnacle Trades Net, Marketside (clone), and Finadox. FI advises consumers to verify firms against its warning list, register, and IOSCO’s I-scan database, noting that fraudsters often change names and use unsolicited contact methods.

SupervisionAlertsNew sanctions designations

2025-06-16EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority nears issuing a new framework for online real estate platforms and pushes a real estate investment fund model

The Egypt Financial Regulatory Authority (FRA) is finalizing a study to create a regulatory framework for electronic platforms in the real estate sector, focusing on platforms selling real estate shares. The FRA plans to adopt the real estate investment fund model, with three operators applying to establish fund management entities. The FRA chair highlighted financing channels like stock exchange listings and securitisation, noting the issuance of EGP 60 billion in securitisation bonds by the New Urban Communities Authority.

Policy & regulationRules & requirementsAccounting and financial reportingSecurities offerings and listings

2025-06-16PolandPolish Financial Supervision Commission (KNF)

Polish Financial Supervision Commission meets ESMA to discuss the Savings and Investments Union, regulatory simplification and cross-border supervision

The Polish Financial Supervision Commission (KNF) and the European Securities and Markets Authority (ESMA) discussed EU initiatives to enhance the competitiveness of the European financial market, including the European Commission’s Savings and Investments Union. Key topics included simplifying regulation, reducing administrative burdens, and strengthening cross-border supervision, alongside measures to boost investor protection and confidence.

Policy & regulationCooperationCross-border paymentsRegulatory burden

2025-06-16United StatesFederal Reserve Board

Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency seek comment on actions to reduce payments and check fraud

The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency have issued a joint request for information on actions to mitigate payments fraud, with a focus on check fraud. The agencies seek input on collaboration, education, regulation, data sharing, and Federal Reserve Banks' tools to address fraud.

Policy & regulationOtherPayments and payment systemsFraud and scams

2025-06-16NorwayNorwegian Finanstilsynet

Financial Supervisory Authority of Norway finds anti-money laundering compliance deficiencies at Rogaland Sparebank and requires progress reporting

The Financial Supervisory Authority of Norway (Finanstilsynet) reported deficiencies in Rogaland Sparebank's compliance with anti-money laundering regulations following a document-based inspection. The bank's enhanced customer due diligence was found lacking, with generic information gathering and inadequate risk classification processes. Rogaland Sparebank has developed a remediation action plan and must report its progress semi-annually.

SupervisionReviews, inspections & stress testsAML and CFT

2025-06-16NorwayNorwegian Finanstilsynet

Norwegian Finanstilsynet publishes Advokattilsynet guidance ending passive lawyer licences and setting reapplication route for real estate brokerage employees

Norwegian Finanstilsynet published a letter from Advokattilsynet clarifying the impact of Norway’s Lawyers Act on lawyers with a "passive" practising licence, effective from 1 January 2025. Lawyers must now hold an active licence, and those with a passive licence must apply for a new one when practising law. Employees in real estate brokerage firms can submit a simplified application for a new licence, requiring an extended police certificate and separate security as a lawyer.

Policy & regulationGuidance & interpretationLicence approval

2025-06-16NorwayNorwegian Finanstilsynet

Financial Supervisory Authority of Norway finds anti-money laundering control deficiencies at SpareBank 1 Sør-Norge after Stavanger loan intermediation allegations

The Financial Supervisory Authority of Norway (Finanstilsynet) inspected SpareBank 1 Sør-Norge ASA after media allegations of illegal loan intermediation. The inspection found deficiencies in anti-money laundering compliance, including inadequate customer information, risk assessments, and transaction monitoring. The bank has developed a remediation plan and must report progress semi-annually to the supervisor.

SupervisionReviews, inspections & stress testsAML and CFT

2025-06-16United StatesCommodity Futures Trading Commission

Commodity Futures Trading Commission secures court orders requiring Agridime to pay USD 102.9 million restitution and permanently barring the firm and its founders from CFTC markets

The Commodity Futures Trading Commission announced a final judgment against Agridime LLC, imposing a permanent injunction and ordering USD 102.9 million in restitution, along with a ban from CFTC markets. Co-founders Joshua Link and Jed Wood face disgorgement orders and permanent trading and registration bans. The case involves a Ponzi-like fraud related to cattle purchase contracts.

EnforcementInvestigations & enforcement actionsFraud and scams

2025-06-16GreeceHellenic Capital Market Commission

Hellenic Capital Market Commission approves Alpha Bank prospectus for Athens Stock Exchange main market listing and CD-MEDIA mandatory offer document

The Hellenic Capital Market Commission approved Alpha Bank Société Anonyme's prospectus for listing all its shares on the Athens Stock Exchange's Main Category. It also approved CD-MEDIA Societas Europaea's offering document for a mandatory public offer to Intertek Société Anonyme's shareholders.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-06-16CanadaBritish Columbia Financial Services Authority

British Columbia Financial Services Authority CEO outlines a trust-based regulatory approach and engagement to access MLS transaction-level data

BCFSA CEO Tolga Yalkin emphasized trust as essential for effective supervision in a speech to Real Estate Regulators of Canada. BCFSA is engaging with data-holding entities to access transaction-level data from the MLS to enhance market visibility and enable proactive, risk-based supervision. This initiative aims to transition from a complaints-driven compliance model while ensuring confidentiality and reducing ad hoc information requests.

SupervisionSupervision approach, priorities & toolkitOther

2025-06-16GlobalFinancial Action Task Force

Financial Action Task Force aligns FATF-style regional bodies on a new mutual evaluation round and technical assistance coordination

The Financial Action Task Force (FATF) updated on its Annual High-Level Meeting with FATF-Style Regional Bodies, emphasizing a revised approach for mutual evaluations focusing on major risks and country context. The meeting also included a Technical Assistance Peer Exchange with over 100 representatives discussing challenges in supporting lower-resourced countries to implement global Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards.

Policy & regulationInternational standards & recommendationsAML and CFTDomestic cooperation

2025-06-16United StatesOffice of the Comptroller of the Currency

United States Federal Deposit Insurance Corporation, Federal Reserve Board and Office of the Comptroller of the Currency seek comment on measures to mitigate payments and check fraud

The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint request for information on reducing payments fraud, focusing on check fraud. The request seeks input on actions within their regulatory authorities, covering collaboration, education, regulation, data collection, and Federal Reserve Banks' tools. The agencies aim to enhance coordination with other state and federal entities.

Policy & regulationCooperationFraud and scamsAML and CFT

2025-06-16MaltaMalta Financial Services Authority

Malta Financial Services Authority’s 2024 annual report shows a 33% rise in supervisory interactions and EUR 926,485 in penalties

The Malta Financial Services Authority (MFSA) released its 2024 Annual Report, highlighting a 33% increase in supervisory interactions and 134 enforcement actions, resulting in EUR 926,485 in penalties. The sector contributes 8.2% to real Gross Value Added and employs 14,745 people as of October 2024. Key initiatives include consumer protection, training through the Financial Supervisors Academy, and collaboration with domestic and EU bodies on regulatory reporting and financial crime prevention.

OtherSupervision process and methodologiesConsumer and investor protection

2025-06-16MacaoMonetary Authority of Macao

Monetary Authority of Macao hosts bond market connectivity seminar and signals phased upgrades to Central Securities Depository services

The Monetary Authority of Macao (AMCM) hosted a seminar on bond market interconnection to strengthen ties between the Hong Kong and Macao bond markets and explore opportunities in the Guangdong–Hong Kong–Macao Greater Bay Area. AMCM board member Lei Ho Ian highlighted the direct linkage between Hong Kong and Macao bond market infrastructures and announced phased updates to the Central Securities Depository of Macao. Discussions covered international bond market trends, cross-border securities custody, and strategies to attract international investors to Macao.

Policy & regulationCooperationMarket development

2025-06-16MoldovaNational Bank of Moldova

National Bank of Moldova withdraws BCR Chișinău licence after absorption by Victoriabank, leaving 10 licensed banks

The National Bank of Moldova withdrew Banca Comercială Română Chișinău S.A.'s banking licence after its absorption by B.C. VICTORIABANK S.A., reducing licensed banks to ten as of 31 March 2025. The banking sector saw a 1.3% asset increase to MDL 172,603.7 million, a rise in non-performing loans to 4.3%, and a 27.8% profit growth year-on-year. Additionally, a regulatory amendment effective 16 February 2025 raised the maximum buffer for systemically important institutions from 2% to 3%, aligning with EU Directive 2019/878.

Data & statisticsLicence withdrawal

2025-06-16United Arab EmiratesGeneral Pension and Social Security Authority

General Pension and Social Security Authority exempts small private employers from additional charges for late registration and end-of-service processing delays

The General Pension and Social Security Authority (GPSSA) launched an initiative exempting small private-sector employers from penalties for late registration or delays in end-of-service benefits processing. This applies to companies with four or fewer Emirati workers for amounts due between 1 January 2024 and 30 April 2025. The measure, part of the Zero Government Bureaucracy programme, will automatically benefit 1,906 companies.

Policy & regulationImplementation, projects & pilotsOther

2025-06-16TaiwanCentral Bank of Taiwan

Central Bank of Taiwan releases May 2025 renminbi banking overview showing RMB 117.43 billion in deposits across 65 domestic and 56 offshore banking units

The Central Bank of the Republic of China (Taiwan) released its May 2025 overview of renminbi (RMB) business, detailing activities by 65 domestic banking units (DBUs) and 56 offshore banking units (OBUs). As of April 2025, RMB deposits were RMB 117.43 billion, with RMB 88.98 billion in DBUs and RMB 28.45 billion in OBUs. RMB remittances totaled RMB 159.94 billion, and RMB settlements by the Taipei Branch of the Bank of China reached RMB 486 billion.

Data & statisticsFinancial and market indicators

2025-06-16United Arab EmiratesDubai International Financial Centre

Dubai International Financial Centre announces Binghatti Capital launch as DFSA-authorised asset manager targeting USD 1 billion Shariah-compliant strategies

Dubai International Financial Centre launched Binghatti Capital Limited, an asset management firm by Binghatti Holding Ltd, authorized by the Dubai Financial Services Authority to manage USD 1 billion in Shariah-compliant private credit and real estate strategies. The firm will focus on supply chain financing in real estate and offer tailored portfolio mandates. Binghatti Capital is licensed to engage only with professional clients.

SupervisionAuthorisations & approvalsLicence approval

2025-06-16BahamasCentral Bank of the Bahamas

Central Bank of the Bahamas publishes 2025/26 Bahamas Registered Stock issuance calendar for monthly reopenings

The Central Bank of the Bahamas released the 2025/2026 Bahamas Registered Stock issuance calendar, detailing fixed-coupon reopening offers from July 2025 to May 2026. Monthly reopening amounts range from $20 million to $47.37 million, with tenors spanning 3 to 30 years. The schedule is subject to adjustments by the Central Bank in consultation with the Government.

Policy & regulationImplementation, projects & pilotsSecurities offerings and listings

2025-06-16BahamasCentral Bank of the Bahamas

Central Bank of the Bahamas publishes June 2025 Bahamas Registered Stock secondary market bid ask prices and yields

The Central Bank of the Bahamas released its June 2025 secondary market pricing sheet for Bahamas Registered Stock (BRS), detailing bid and ask prices for fixed-rate and floating-rate securities. It includes ISIN-level information like issue and maturity dates, nominal values, APR or annual coupon, and yields from 2.94% to 6.57%. Floating-rate securities have six-month coupon resets based on the prevailing market rate, with quoted prices excluding accrued interest.

Data & statisticsFinancial and market indicators

2025-06-15PeruCentral Bank of Peru

Central Bank of Peru reports 40.3% year-on-year jump in non-traditional exports in April

The Central Bank of Peru reported a 40.3% year-on-year increase in non-traditional exports in April, driven by a 42.6% rise in shipped volumes, particularly in fishing and agriculture. Traditional exports grew by 4%, with mining commodities and coffee prices contributing to the increase. From January to April 2025, non-traditional exports reached USD 6.983 billion, up 25.7%, while traditional exports rose 21.1% to USD 19.534 billion.

Data & statisticsBalance of payments and other external statistics

2025-06-15PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines requires BSP-supervised institutions to register CAPO inquiry email accounts by 25 July 2025

The Central Bank of the Philippines issued guidelines requiring BSP-supervised institutions to register official e-mail accounts for communications with the Consumer Account Protection Office (CAPO) under BSP Circular No. 1214. Institutions must register up to three e-mail accounts by 25 July 2025, with at least one linked to a senior officer. Submissions from unregistered accounts will be rejected, and specific protocols are outlined for account changes and compromised accounts.

Policy & regulationRules & requirementsOther

2025-06-15PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines enjoins all banks to promote Savings Consciousness Week 2025 from 30 June to 6 July

The Central Bank of the Philippines (BSP) has issued a circular urging banks to promote Savings Consciousness Week 2025, aligned with Presidential Proclamation No. 380. The campaign, themed “A secure future starts with consistent saving habits,” will run from 30 June to 6 July 2025, with banks encouraged to use specified communications and hashtags across various platforms.

Policy & regulationGuidance & interpretationFinancial literacy and education

2025-06-15OmanOman Financial Services Authority

Oman Financial Services Authority warns Oman International Audit and Consulting for breaches of auditing standards and record-keeping requirements

The Oman Financial Services Authority's Professional Conduct Committee issued a warning to Oman International Audit and Consulting for breaching auditing and professional standards. The firm conducted audits without necessary documentation, failed to retain audit files, and did not comply with International Auditing Standard 700.

EnforcementInvestigations & enforcement actionsAuditing

2025-06-15EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority sets conditions for temporary licences for specialised medical insurers and healthcare programme managers

The Egypt Financial Regulatory Authority (FRA) has issued rules for specialised medical insurance and healthcare programme management companies to obtain temporary licences while aligning with the Unified Insurance Law. New companies must apply for permanent licences under the same law. Temporary authorisation requires meeting capital and operational requirements, restricts cash dividends until capital thresholds are met, and is renewable subject to FRA approval.

Policy & regulationRules & requirementsLicensing framework and process

2025-06-15EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority extends Unified Insurance Law compliance deadline for insurers by one year from 11 July 2025

The Egypt Financial Regulatory Authority has extended the compliance deadline for insurance companies under the Unified Insurance Law by one year, now set for 11 July 2025. This pertains to Article 7 of Law No. 155 of 2024, which initially required compliance within one year and permits extensions up to three years. The law introduces new investment rules, financial statement timelines, and regulatory provisions for insurance and reinsurance companies.

Policy & regulationRules & requirementsOther

2025-06-15EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority doubles insurers’ cap on commodity and metals fund investments to 10% and sets single-fund concentration limit

The Egypt Financial Regulatory Authority amended investment rules for insurers and reinsurers, increasing the cap on commodity and metals investments to 10% from 5%. A new concentration limit restricts investment in a single fund to the lower of 5% of total allocated funds or 15% of the fund's net asset value. These changes aim to enhance diversification and market liquidity, aligning with Egypt's Unified Insurance Law No. 155 of 2024.

Policy & regulationRules & requirementsLiquidity risk

2025-06-15GlobalFinancial Action Task Force

Financial Action Task Force announces forthcoming terrorist financing case analysis and webinar to strengthen counter-terrorist financing effectiveness

The Financial Action Task Force (FATF) updated its efforts to combat terrorist financing, emphasizing financial intelligence and support for over 200 jurisdictions to enhance counter-terrorist financing (CFT) measures. The update highlights gaps in mutual evaluations, evolving risks like social media and virtual assets abuse, and condemns the recent terrorist attack in Pahalgam. FATF plans to release a comprehensive analysis of terrorist financing and host a webinar to aid public and private sectors in understanding emerging threats.

Policy & regulationGuidance & interpretationAML and CFTCrowdfunding

2025-06-14BoliviaMinistry of Finance (Bolivia)

Bolivia's Ministry of Finance details bill to halt social housing foreclosures and defer small-borrower debt payments for six months

Bolivia's Ministry of Finance submitted a draft law to the Plurinational Legislative Assembly proposing a six-month suspension of financial enforcement actions for families with social-interest housing loans and a deferral of debt payments for micro economic units and small borrowers. The measure aims to provide temporary relief without disrupting financial system stability and does not constitute debt forgiveness or contract intervention.

Policy & regulationRules & requirementsLending

2025-06-14PeruCentral Bank of Peru

Central Bank of Peru reports 12-month trade surplus reaches record USD 26,712 million in April

The Central Bank of Peru reported a record trade surplus of USD 26,712 million over the past 12 months as of April, with a monthly surplus of USD 1,334 million, USD 503 million higher than April 2024. April exports rose 12.4% year on year to USD 5,802 million, driven by increased metal prices and export volumes, while imports grew 3.1% to USD 4,468 million. Traditional exports increased 4.0% to USD 4,100 million, and non-traditional exports surged 40.3% to USD 1,685 million, led by fisheries and agriculture.

Data & statisticsBalance of payments and other external statistics

2025-06-14BoliviaMinistry of Finance (Bolivia)

Bolivia's Ministry of Finance outlines draft law to suspend social-interest housing foreclosures and defer small-borrower repayments for six months

Bolivia's Ministry of Finance announced a draft bill submitted by President Luis Arce to the Plurinational Legislative Assembly, proposing a six-month suspension of enforcement actions on social-interest housing loans and a deferral of debt payments for small borrowers. The measure aims to provide temporary relief without debt forgiveness or contract intervention, ensuring financial system stability while preventing social and economic harm.

Policy & regulationRules & requirementsLending

2025-06-14ThailandThailand Office of Insurance Commission

Thailand Office of Insurance Commission launches staff training on enforcing insurance law across criminal, administrative and administrative fine cases

The Thailand Office of Insurance Commission (OIC) launched a training programme to enhance staff expertise in applying and enforcing insurance laws. Conducted from 15 May to 5 June 2025, it covered civil and commercial insurance law, litigation, administrative enforcement, and public procurement. The initiative addresses rising compliance challenges and aims for consistent legal tool application for fair claims handling and risk management.

Institutional developmentCooperation & capacity buildingOther

2025-06-14PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines readies New Clark City complex for contractor procurement as detailed design is finalized

The Central Bank of the Philippines announced progress on its New Clark City Project, with Aidea Inc. completing the Detailed Architectural and Engineering Design documents. This aims to decongest Metro Manila and enhance disaster preparedness. Key projects include the North-South Commuter Railway and a rail link from Clark International Airport to the BSP complex, with feasibility and loan agreements expected by end-2025.

Policy & regulationImplementation, projects & pilotsOperational risk and resilience

2025-06-14VietnamState Bank of Vietnam

State Bank of Vietnam highlights opening of Ting Ting Day 2025 Cashless Day festival to promote non-cash payments

The State Bank of Vietnam launched the Ting Ting Day 2025 Cashless Day festival in Ho Chi Minh City to promote non-cash payments and digital transformation, marking a key event in the final year of the 2021–2025 national programme. Co-organised with Tuoi Tre newspaper, the SBV's Payment Department, Banking Times, and NAPAS, the festival featured fintech applications and international card organisations. A seminar on cashless payments as a driver of digital economy growth was held alongside Ho Chi Minh City’s “Shopping Season 2025” campaign, involving over 10,000 businesses and nearly 80,000 promotions.

Policy & regulationImplementation, projects & pilotsPayments and payment systems

2025-06-14VietnamState Bank of Vietnam

State Bank of Vietnam’s Credit Institutions System Safety Department holds first party cell congress for the 2025-2027 term

The State Bank of Vietnam's Department of Safety of the Credit Institutions System held its first congress for the 2025-2027 term, focusing on performance review and future priorities amid restructuring. The unit highlighted its role in legal drafting, macroprudential supervision, and non-performing loan resolution, including advising on Prime Minister Decision 689/QĐ-TTg. Deputy Governor Doan Thai Son emphasized developing solutions aligned with Politburo resolutions on technology, digital transformation, and legal reform to enhance supervisory effectiveness.

Institutional developmentGovernanceLeadership change and appointments

2025-06-13FranceMinistry of Economics & Finance (France)

France's Ministry of Economics and Finance Tracfin reports record 211,165 suspicious transaction reports in 2024

France's Ministry of Economics and Finance, via Tracfin, reported a record 215,410 suspicious transaction reports in 2024, a 13.2% increase from 2023. The financial sector contributed 93.1% of reports, with banks and credit institutions responsible for 57.2%, while crypto-asset service providers saw a 112.1% rise. The report highlights expanded AML/CFT obligations and anticipates further additions under the EU's sixth AML/CFT package, alongside efforts to harmonize bank transaction statements.

Data & statisticsActivity and performance reporting

2025-06-13GlobalEgmont Group

Egmont Group participates in FATF-MONEYVAL plenary and schedules July review of informal international cooperation report

The Egmont Group participated in the June 2025 FATF-MONEYVAL Plenary, where a report on enhancing informal international cooperation was approved, with further review scheduled for the Egmont Group’s 30th anniversary Plenary in July 2025. The Plenary also approved several outputs, including updated Targeted National Risk Assessment Guidance and amendments to FATF Recommendation 16, and acknowledged leadership changes within FATF and MONEYVAL.

Policy & regulationCooperationAML and CFTDomestic cooperation

2025-06-13MontenegroCentral Bank of Montenegro

Central Bank of Montenegro hosts regional summit spotlighting SEPA integration and deeper policy coordination

The Central Bank of Montenegro opened the XII Regional Summit in Bečići, advocating for regional coordination on systemic challenges and SEPA integration to align the Western Balkans with the EU. Governor Irena Radović emphasized the need for coordinated responses to issues like energy security and digital risks. European Commission Director-General Gert Jan Koopman highlighted SEPA's role in reducing costs, enhancing investment, and curbing the grey economy.

Policy & regulationCooperationCross-border cooperation

2025-06-13AngolaAngola Capital Markets Commission

Angola Capital Markets Commission discusses audit quality control at OCPCA session and points to joint work on a draft audit supervision law

The Angola Capital Markets Commission participated in a session hosted by the Order of Accountants and Accounting Experts of Angola, emphasizing the importance of quality control for accounting professionals. CMC board member Edna Mascarenhas highlighted the CMC–OCPCA partnership in drafting a law on the legal regime for audit supervision.

Policy & regulationCooperationAuditing

2025-06-13MexicoMexico Comision Nacional Bancaria y de Valores (CNBV)

Mexico's National Banking and Securities Commission supports IFRS recognition of Mexico’s adoption of ISSB sustainability disclosure standards

Mexico's National Banking and Securities Commission (CNBV) announced that the IFRS Foundation has recognized Mexico for adopting the ISSB Sustainability Disclosure Standards. This follows regulatory amendments to incorporate ESG criteria into Mexico's framework, enhancing issuer disclosure quality and comparability. The CNBV will continue collaborating with the IFRS Foundation and international bodies on sustainability regulation.

Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance

2025-06-13AustraliaAustralian Securities & Investments Commission

Australian Securities & Investments Commission refuses Bakken Holdings’ credit licence application for debt management services

The Australian Securities & Investments Commission (ASIC) denied Bakken Holdings Pty Ltd's application for an Australian credit licence to provide debt management services, requiring them to cease operations. Debt management services are regulated by the National Consumer Credit Protection Act 2009. ASIC reminded credit licensees not to conduct business with unlicensed entities and highlighted free alternatives like the National Debt Helpline. Bakken may seek a review by the Administrative Review Tribunal.

SupervisionAuthorisations & approvalsLicence withdrawal

2025-06-13AustraliaAustralian Securities & Investments Commission

Australian Securities & Investments Commission cancels Financial Services Group Australia AFS licence effective 7 June 2025 and permanently bans responsible manager Graham Holmes

ASIC has cancelled the AFS licence of Financial Services Group Australia Pty Ltd (FSGA) and permanently banned its manager, Graham Holmes, from providing financial services. FSGA failed to ensure appropriate advice, maintain resources, lodge financial statements on time, and comply with conditions. Despite the cancellation, FSGA must remain an AFCA member and maintain insurance until June 2026. FSGA and Holmes can seek a review, and investigations continue.

EnforcementInvestigations & enforcement actionsOther

2025-06-13SpainSpanish Securities Commission (CNMV)

Spanish Securities Commission authorises CIE Automotive voluntary partial self-tender for up to 9.68% of shares at EUR 24

The Spanish Securities Commission (CNMV) has authorized CIE Automotive, S.A.'s voluntary partial offer to repurchase up to 11,591,517 shares, representing 9.68% of its share capital, at EUR 24 per share. The offer is unconditional and backed by bank guarantees totaling EUR 278,196,408, with the intention to increase free float within 24 months. The price was set by the bidder and not assessed as equitable under Spanish securities legislation.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-06-13New ZealandNew Zealand Financial Markets Authority

New Zealand Financial Markets Authority decides in principle on a class exemption easing unsolicited offer rules for listed issuers buying back quoted debt

The New Zealand Financial Markets Authority has issued a consultation paper on a proposed class exemption allowing listed issuers to buy back their own quoted debt securities with relief from certain unsolicited offer regulations. Submissions are invited by 25 July 2025, with plans to finalize a notice to implement the exemption.

Policy & regulationRules & requirementsSecurities offerings and listings

2025-06-13UkraineUkraine National Commission on Securities and Stock Market

Ukraine National Commission on Securities and Stock Market approves planned significant participations and refuses DM BROK financial recovery plan

The Ukraine National Commission on Securities and Stock Market issued decisions on foreign currency government bonds transactions during martial law, significant participations in capital market entities, and rejected DM BROK LLC's financial improvement plan. It approved draft laws on the timber market and amended NSSMC Order No. 538. The Commission registered a collective investment share issue for JSC “ZNVCIF ‘EDFORD’” and approved key appointments at several professional participants.

Policy & regulationRules & requirementsSecurities offerings and listings

2025-06-13UkraineUkraine National Commission on Securities and Stock Market

Ukraine National Commission on Securities and Stock Market revises OTC rules for foreign currency domestic government bonds with DVP and NBU authorisation requirements

The Ukraine National Commission on Securities and Stock Market has approved stricter regulations on over-the-counter transactions in foreign currency-denominated domestic government bonds during martial law. Investment firms can only trade these bonds outside initial placements if transactions follow the "delivery of securities against payment" principle via the Settlement Center. Depository institutions must receive orders or notifications from the National Bank of Ukraine before processing related accounting entries.

Policy & regulationRules & requirementsForeign exchange policy and markets

2025-06-13TürkiyeCentral Bank of Türkiye

Central Bank of Türkiye and People’s Bank of China renew TRY-CNY currency swap line up to TRY 189 billion

The Central Bank of the Republic of Türkiye and the People’s Bank of China renewed their Turkish lira-Chinese yuan bilateral currency swap arrangement, allowing exchanges up to TRY 189 billion or CNY 35 billion. This arrangement aims to support bilateral trade and financial cooperation and is effective for three years, with the possibility of extension.

Monetary policyMonetary policy instruments & operationsCross-border cooperationForeign exchange policy and markets

2025-06-13TürkiyeCentral Bank of Türkiye

Central Bank of Türkiye and People’s Bank of China sign MoU to establish renminbi clearing arrangements

The Central Bank of Türkiye and the People’s Bank of China signed a memorandum of understanding to establish renminbi clearing arrangements to facilitate bilateral trade and investment. The agreement was signed by Governors Fatih Karahan and Pan Gongsheng.

Policy & regulationCooperationCross-border cooperation

2025-06-13NetherlandsDe Nederlandsche Bank

De Nederlandsche Bank announces Olaf Sleijpen will become president from 1 July 2025

De Nederlandsche Bank (DNB) announced Olaf Sleijpen as its next President, effective 1 July 2025, succeeding Klaas Knot. Sleijpen, currently on DNB's Executive Board, will leave the Monetary Affairs position vacant. The Supervisory Board will consider a successor for this role.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-06-13EuropeCommittee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)

FATF and the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism adopt Latvia mutual evaluation report under the new assessment round

At a joint plenary in Strasbourg, the Financial Action Task Force (FATF) and MONEYVAL adopted a mutual evaluation report on Latvia, marking the first evaluation under a new round assessing anti-money laundering and counter-terrorist financing controls. The plenary also approved changes to FATF Standards to enhance cross-border payment safety and updated the list of jurisdictions under increased monitoring, removing Croatia due to its progress.

Policy & regulationPeer reviews and country evaluationsAML and CFTCross-border cooperation

2025-06-13CyprusCentral Bank of Cyprus

Central Bank of Cyprus strengthens supervision of electronic money and payment institutions with a new risk-based strategy and peer exchanges

The Central Bank of Cyprus is enhancing oversight of electronic money and payment institutions by meeting with central banks from Lithuania and the Netherlands to exchange supervisory practices. This initiative, developed with international consultancy, includes improved licensing procedures, risk-based supervision, and expanded supervisory tools. A dedicated Directorate oversees 30 electronic money institutions and 11 payment institutions.

SupervisionSupervision approach, priorities & toolkit

2025-06-13MexicoMexico Comision Nacional Bancaria y de Valores (CNBV)

Mexico's National Banking and Securities Commission orders management intervention in Sofipo CAME to suspend operations

Mexico's National Banking and Securities Commission (CNBV) has intervened in Consejo de Asistencia al Microemprendedor, S.A. de C.V., Sociedad Financiera Popular (CAME), suspending its operations due to accounting irregularities and significant capital loss. CAME is in category 4 of the Capitalisation Level (NICAP), indicating financial insolvency. A revocation procedure for non-compliance with capital requirements is ongoing, with deposits covered by the Protection Fund up to 25,000 UDIS.

SupervisionInterventionsPrudential risksSupervision process and methodologies

2025-06-13El SalvadorCentral Reserve Bank of El Salvador

Central Reserve Bank of El Salvador signs memorandum with Mastercard to accelerate payments digitalisation and financial inclusion

The Central Reserve Bank of El Salvador and Mastercard have signed a memorandum of understanding to enhance payments digitalisation, financial inclusion, and technological innovation in El Salvador. The partnership will focus on modernising payments infrastructure and integrating micro and small merchants, with workstreams on financial inclusion and knowledge transfer.

Policy & regulationCooperationCross-border cooperationFinancial inclusion

2025-06-13PakistanSecurites & Exchange Commission of Pakistan

Securities and Exchange Commission of Pakistan consults on Voluntary Pension System rule changes to let employer pension funds serve multiple employers

The Securities and Exchange Commission of Pakistan issued a consultation paper proposing amendments to the Voluntary Pension System Rules, 2005, to expand access and improve efficiency in the employer pension fund market. The proposal would allow Employer Pension Funds to cover multiple employers through a common fund structure, supporting economies of scale and reducing costs. The SECP identified changes needed to improve operational efficiency, broaden pension coverage, and align with international best practices.

Policy & regulationRules & requirements

2025-06-13LithuaniaMinistry of Finance (Lithuania)

Lithuania's Ministry of Finance reports two-year progress on Fintech Development Guidelines with EU clients served rising to 30.7 million

Lithuania's Ministry of Finance released a two-year update on the Fintech Sector Development Guidelines for 2023–2028, highlighting sector growth and regulatory support. The report notes an increase in EU customers served by Lithuanian fintech companies to 30.7 million, with rising income and employment. The plan includes 59 actions, with 14 completed, aiming to establish Lithuania as a leading European fintech hub by 2028.

Policy & regulationImplementation, projects & pilotsFintech and insurtech