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2025-05-30•Brazil•Brazil Securities Commission (CVM)
Brazil's Ministry of Finance and the Brazil Securities Commission (CVM) announced B3's participation in the Brazil-China ETF Connect programme, enabling reciprocal ETF listings with Shanghai and Shenzhen exchanges. This marks Brazil as the first non-Asian country in the programme, part of broader Brazil-China capital markets integration. Initial listings include Bradesco Asset ETFs linked to Chinese indices, with plans to list Brazil-referenced indices in China.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-05-30•Albania•Albania Financial Services Authority
At the National Association of Insurance Commissioners’ International Insurance Forum 2025, Albania Financial Services Authority's Executive General Director, Mimoza Kaçi, highlighted Albania's insurance market digitalisation efforts. She emphasized international standards and tailored regulatory models' roles in advancing digitalisation and enhancing consumer protection in Southeast Europe, positioning digitalisation as a strategic catalyst for financial inclusion and the insurance sector's protective function.
Policy & regulationCooperationMarket development
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2025-05-30•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia hosted a bilateral meeting and knowledge-sharing seminar with the Lao Securities Commission Office in Siem Reap. The event was chaired by SERC Director General Sou Socheat and LSCO Secretary-General Phengsy Phengmuong.
Policy & regulationCooperationCross-border cooperation
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2025-05-30•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,129 details a parametric approach to modeling UK labour income risk using earnings data from 1975 to 2023. The study finds earnings growth distribution is sharply peaked with long tails, and business-cycle variations are concentrated in skewness rather than dispersion. The model, designed for macroeconomic frameworks, shows large negative earnings shocks are more likely in recessions, but lower-income households are not disproportionately affected.
Research
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2025-05-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the IMF Special Data Dissemination Standard breakdown of Malaysia’s international reserves as of end-April 2025, showing reserves at USD118,698.4 million and other foreign currency assets at USD1,753.9 million. Pre-determined short-term outflows over the next 12 months are USD14,075.1 million, with net short forward positions at USD24,036.3 million. Contingent short-term net drains are limited to USD419 million in government guarantees, with no foreign currency loans with embedded options or undrawn unconditional credit lines.
Data & statisticsBalance of payments and other external statistics
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2025-05-30•Zambia•Bank of Zambia
The Bank of Zambia congratulated Mr. Shebo Nalishebo on his election as Executive Director on the African Development Bank Group Board, representing Botswana, Malawi, Mauritius, and Zambia. The central bank expressed confidence in his ability to support private sector growth, sustainable infrastructure, regional integration, and macroeconomic stability, given his background in statistics, public finance, and policy analysis.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-30•Seychelles•Seychelles Financial Services Authority
The Financial Services Authority of Seychelles issued a scam alert regarding the website https://pc.fxgtpeo.cc/#/, clarifying it is not associated with any licensed or regulated entity. The Authority urges investors to perform due diligence before engaging with the site and disclaims liability for any interactions with it.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-05-30•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority clarified that MEXC Global Ltd has been dissolved and never had authorization to operate under the Virtual Asset Service Providers Act, 2024. MEXC Global Ltd was incorporated in 2020, struck off in August 2023, and dissolved in December 2024 without applying for a license during the transitional period. The FSA will continue monitoring the virtual asset sector and encourages reporting suspected unauthorized activities.
SupervisionAlertsLicence withdrawal
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2025-05-30•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported a current account deficit of EUR 373.26 million for Q1 2025, a 17.62% increase from the previous year, driven by a deeper goods trade deficit. The goods trade deficit reached EUR 1.29 billion, with exports down 3.46% and imports up 18.01%. Offsetting factors included surpluses in services, primary income, and secondary income, with remittances totaling EUR 402.93 million for the first four months of 2025.
Data & statisticsBalance of payments and other external statistics
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2025-05-30•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo attended a high-level conference on economic resilience in Central, Eastern, and South-Eastern Europe, organized by the Croatian National Bank and the IMF. He presented Kosovo's financial sector developments and reforms in a closed-door meeting with IMF Managing Director Kristalina Georgieva. Ismaili also held bilateral meetings to discuss cooperation on cash management reforms and currency counterfeiting.
Policy & regulationCooperationCross-border cooperation
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2025-05-30•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority approved VINCI's prospectus for a share offer reserved for its employees, involving a capital increase and/or share transfer of up to 8,848,427 shares. The offer targets employees of specific VINCI subsidiaries in Morocco, with a subscription price of EUR 125.33 (MAD 1,308.91), and runs from 2 to 13 June 2025. The prospectus includes key documents and bylaws, available at VINCI subsidiaries, BMCI, and online.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's May 2025 Economic Report highlights continued domestic expansion, moderated inflation, improved federation revenue, and stable financial conditions under a tight monetary policy. It notes a robust external position with a stable naira, higher trade surplus, and increased capital inflows. The outlook anticipates strong growth and further disinflation, while cautioning about risks like security issues and potential foreign exchange market pressures.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsFinancial and market indicators
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2025-05-30•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority appointed Jimmy Kvarnström as head of its Markets business area and a member of the management team. Kvarnström will assume the role in August, following his tenure as chief legal officer at Nordic Growth Market.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-30•Sweden•Finansinspektionen
Sweden's Finansinspektionen (FI) warned about fraudsters posing as FI staff to deceive consumers via phone and email, falsely offering help in recovering investment fraud losses. FI clarified it never contacts consumers for such purposes and advised against sharing personal banking information or allowing remote computer access. Consumers should report suspected fraud to the police and consult FI's warning list and the International Organization of Securities Commissions’ I-SCAN database for cross-border alerts.
SupervisionAlertsFraud and scams
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2025-05-30•Russia•Central Bank of Russia
Effective 30 May 2025, the Central Bank of Russia caps individual transfers at RUB 100,000 using simplified identification without a bank account. Transfers above this require full identification or a bank account. The maximum balance for e-wallets with simplified identification rises to RUB 100,000 from RUB 60,000, as part of anti-money laundering and counter-terrorist financing efforts.
Policy & regulationRules & requirementsCross-border paymentsAML and CFT
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2025-05-30•Russia•Central Bank of Russia
The Central Bank of Russia's Q1 2025 review highlights a shift in pension savings from non-governmental pension funds (NPFs) to the Long-term Savings Programme (LSP), resulting in a 564,000 decrease in NPF clients and a RUB 103 billion drop in pension savings. LSP participation surged nearly 50% to 4 million. NPF portfolios saw an increased share of OFZ and reduced money market instruments, with investment income primarily from debt security coupons.
Data & statistics
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2025-05-30•Russia•Central Bank of Russia
During Coin Week in April 2025, over 51 million coins worth RUB 242 million were returned to banks across 3,058 localities, weighing 235 tonnes—a 17.5% increase from autumn 2024. Moscow, St Petersburg, and Krasnodar Territory collected the most. The Central Bank of Russia encourages continued coin circulation through everyday payments.
Policy & regulationImplementation, projects & pilotsOther
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2025-05-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) announced actions against unlicensed non-banking financial activities, including closing Solv Consultations for operating without a license. FRA introduced digital channels for verifying licensing status and reporting suspicious activities, alongside a public negative list of rule-breaking entities. The authority is monitoring compliance and will disclose legal actions against non-compliant entities.
SupervisionInterventionsUnlicensed or unauthorized activityWhistleblowing
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2025-05-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority announced Chair Mohamed Farid's inauguration of the Egyptian Federation of Insurance Companies’ marathon, themed 'We run together… we outrun risk with insurance'. Farid highlighted a qualitative shift in Egypt’s insurance sector following the Unified Insurance Law, which includes measures to stimulate the sector such as expanding business lines for property insurers and increasing capital requirements. The event featured activities promoting health awareness and inclusion.
Other
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2025-05-30•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority reported a 9% increase in earnings-related daily allowance expenditure in 2024, reaching nearly EUR 2 billion. Variations were observed across funds, with some experiencing decreases and others increases in expenditure and beneficiaries. Notably, job alternation compensation expenditure surged 96% to just under EUR 50 million, while transition security allowance for those aged 55 or over rose 143% to EUR 12 million.
Data & statisticsEconomic data and developments
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2025-05-30•Chile•Central Bank of Chile
The Central Bank of Chile appointed José Manuel Garrido Bouzo and Jorge Antonio Sances Morales to the Technical Investment Council under new powers from the 2025 pension reform. Effective 1 June 2025 for four years, the appointments require extensive investment management experience and adherence to incompatibility rules. The Council focuses on pension fund investment reports and proposals to ensure returns and resource security.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-30•Canada•Payments Canada
Payments Canada held its second webinar on the legal framework for the Real-Time Rail (RTR), focusing on access and participation options amid public consultation. The session detailed regulatory and system requirements for RTR access, emphasizing expanded membership eligibility under the Canadian Payments Act. Participants can engage as direct or indirect settlement participants, settlement agents, or member non-participants, subject to specific requirements.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-05-30•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation released its April 2025 list of administrative enforcement orders against banks and individuals, noting no hearings are scheduled for June. The 14 orders include prohibition, restitution, consent, and civil money penalty actions, with details accessible on the FDIC website.
EnforcementInvestigations & enforcement actions
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2025-05-30•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released the lists of institutions scheduled for Community Reinvestment Act (CRA) examinations in Q3 and Q4 of 2025. The schedules, based on asset size and CRA rating, may change due to resourcing or application-related examinations. Public comments on scheduled institutions are encouraged and will be considered before the completion of a CRA examination.
SupervisionReviews, inspections & stress testsOther
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2025-05-30•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation announced the retirement of Patrick Mitchell, Director of the Division of Insurance and Research. Mitchell, who joined the FDIC in 2010 and became director in 2022, oversaw risk monitoring and led the division's response to the 2023 regional bank failures.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-30•Albania•Bank of Albania
Bank of Albania Governor Gent Sejko highlighted Albania's 2024 economic growth of 4% and inflation reduction to 2.2% at an IMF and Croatian National Bank conference. He attributed growth to increased tourism income and stable financial conditions, noting improved sovereign credit ratings and progress in EU accession talks. IMF Managing Director Kristalina Georgieva commended Albania's macroeconomic performance and reform efforts, emphasizing the need to maintain central bank independence.
OtherEconomic data and developmentsFinancial stability and systemic risk
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2025-05-30•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board (CPAB) has modified a practice restriction on Smythe LLP, allowing the firm to accept new reporting issuers except high-risk ones. This follows a 2024 inspection with no significant findings, contrasting with earlier inspections that led to stricter measures due to audit quality concerns. Smythe must still meet requirements, including an audit quality action plan and enhanced regulatory monitoring, until CPAB is satisfied with sustained improvements.
EnforcementSanctions & designationsAuditing
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2025-05-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam emphasized digital identity as crucial for a smart financial ecosystem at the 2025 Banking Sector Digital Transformation Event. Over 70% of credit institutions have implemented digital transformation training, and 40% have adopted technology for biometric data management. Core payment infrastructures are robust, with significant transaction volumes, and banks are advancing VNeID integrations for remote digital signing and paperless processes.
Policy & regulationImplementation, projects & pilotsFintech and insurtechFinancial inclusion
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2025-05-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam clarified that "special lending" at 0% interest without collateral is a controlled tool for banking stability, with decision-making authority elevated to the Prime Minister under the revised 2024 Law on Credit Institutions. Governor Nguyễn Thị Hồng emphasized these loans are reserved for systemic risks like bank runs, not routine liquidity support. She also advocated for integrating Resolution 42 into the law to address non-performing loans with transparent procedures and governance.
Policy & regulationGuidance & interpretationLending
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2025-05-30•United States•Federal Reserve Board
The Federal Reserve Board released results from its Senior Financial Officer Survey, detailing banks' reserve balance management and related strategies. Conducted with the Federal Reserve Bank of New York, the survey includes responses from banks holding approximately three-fourths of total banking system reserve balances. It covers balance sheet expectations, deposit pricing strategies, and views on Federal Reserve facilities.
Data & statisticsSupervisory data
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2025-05-30•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets published its 2024 activity report, highlighting efforts to align national legislation with the EU acquis and develop a strategic framework for the capital market. Key achievements include completing secondary regulations for voluntary pension funds and crowdfunding platforms, streamlining authorisation and supervisory processes, and enhancing consumer protection and financial education initiatives.
Institutional developmentOtherMarket developmentFinancial literacy and education
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2025-05-30•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets has signed a cooperation agreement with the Faculty of Journalism and Communication Sciences of Moldova State University to enhance financial education and public communication. The partnership aims to support economic journalism students' professional development and strengthen financial literacy through internships, joint projects, and educational initiatives.
Financial literacy & educationFinancial literacy and education
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2025-05-30•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission suspended VIE FINANCE SA's cross-border services in Poland and fined it EUR 37,000 for AML breaches and late financial statements. ATHOS ASSET MANAGEMENT SA was fined EUR 7,000 for AML violations. BriQ Properties REIC's authorisation as an internally managed alternative investment fund was partially revoked, and BitGo Deutschland GmbH was removed from the digital wallet custody service providers register.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-30•Canada•British Columbia Financial Services Authority
At the 2025 Northwind event, British Columbia Financial Services Authority CEO Tolga Yalkin outlined a regulatory alignment framework, emphasizing coherent outcomes over uniform rulemaking. He described harmonization as a spectrum involving coordination, convergence, mutual recognition, and standardization, with the model choice depending on context and issue. Yalkin highlighted decision factors like efficiency gains, shared risk views, and institutional readiness, alongside execution conditions such as stakeholder engagement and transparency.
Policy & regulationGuidance & interpretationDomestic cooperation
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2025-05-30•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester M. Peirce advocated for diverse, cost-effective fundraising options, highlighting reliance on Regulation D Rule 506(b) and high costs of other exemptions. She suggested reducing disclosure burdens for crowdfunding and proposed changes to Regulation A, including at-the-market offerings and expanded federal preemption. Peirce also called for reassessing public market disclosure obligations amid declining IPO numbers.
Policy & regulationReform agendas & prioritiesSecurities offerings and listings
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2025-05-30•Malta•Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) released a thematic review of licensed investment firms, highlighting deficiencies in aligning advisory practices with EU sustainable finance rules. The review found inadequate client information on sustainable finance concepts, unclear ESG definitions, and insufficient methods for assessing sustainability preferences. The MFSA urged firms to enhance policies and disclosures, communicating expectations via a Dear CEO letter.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-05-30•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva emphasized aligning Argentina's cryptocurrency regulatory framework with Financial Action Task Force (FATF) recommendations following Law No. 27,739. Speaking with Financial Information Unit (UIF) supervision director Alberto Mendoza, Silva highlighted efforts to avoid the FATF "grey list" and adopt an advanced regulatory regime for virtual asset service providers.
Policy & regulationRules & requirementsFintech and insurtechRegtech and suptech
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2025-05-30•China•China Banking and Insurance Regulatory Commission
The Central Commission for Discipline Inspection and the National Supervisory Commission, in collaboration with Sichuan provincial authorities, have initiated a disciplinary review and investigation into Wang Zeping, former Communist Party secretary and director of the Sichuan Banking Regulatory Bureau, for alleged serious disciplinary and legal violations.
EnforcementInvestigations & enforcement actions
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2025-05-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority published its April 2025 Monthly Authorised Deposit-taking Institution Statistics, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-05-30•Macao•Monetary Authority of Macao
The Monetary Authority of Macao concluded a two-week advanced training programme for the Association of Lusophone Insurance Supervisors, with 19 participants from six Portuguese-speaking countries and Macao. Organized with Portugal’s Insurance and Pension Funds Supervisory Authority, it focused on insurance and technology topics, including digital transformation and financial technology regulation. Participants engaged with Macao’s insurance sector and explored insurtech applications and technology use in risk management and equity trading.
Policy & regulationCooperationCross-border cooperation
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2025-05-30•Asia•Eurasian Group (EAG)
The Eurasian Group’s 42nd Plenary approved Turkmenistan’s second enhanced follow-up report without rerating and backed China’s mutual evaluation under International Monetary Fund leadership, with related changes to the third-round evaluation schedule. It also adopted several AML CFT typology outputs, launched two new typology projects, and called for more technical assistance to Kyrgyzstan and a support plan for Iran. The group also approved its 2026 budget and granted observer status to the African Export-Import Bank Group.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-05-30•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance announced Superintendent Guillermo Plate's participation in the National Association of Insurance Commissioners’ International Insurance Forum 2025 in Washington, DC. The forum addressed trends like artificial intelligence, alternative investments, climate change, and innovation in emerging markets, with contributions from international bodies and industry executives.
Policy & regulationCooperationCross-border cooperation
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2025-05-30•Moldova•National Bank of Moldova
The National Bank of Moldova plans to amend its payment services rulebook to expand mandatory information for credit transfers and update reporting requirements. Changes include adding the Legal Entity Identifier to payment orders and revising reporting for domestic and cross-border transfers, including SEPA and card payment schemes. Amendments also address audit and outsourcing rules for non-bank payment service providers, clarifying audit team qualifications and easing document submission requirements.
Policy & regulationRules & requirementsPayments and payment systemsRegulatory reporting
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2025-05-30•Moldova•National Bank of Moldova
The National Bank of Moldova released a video on monetary policy's impact on daily life and the importance of EU central bank practices. It emphasizes EU rules in enhancing economic response and financial stability, and highlights coordination with the EU on capital movement, financial services, and economic policy for Moldova's EU accession.
Financial literacy & educationMonetary policy decisions and developments
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2025-05-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported on Governor Anca Dragu's discussions with IMF Managing Director Kristalina Georgieva about Moldova's cooperation with the IMF for economic and financial reforms tied to EU integration. The meeting reviewed the recent Financial Sector Assessment Program by the IMF and World Bank, supporting banking system strengthening and alignment with international standards. Dragu linked reform progress to Moldova's EU accession program, highlighting benefits like stability and financial protection.
Policy & regulationCooperationCross-border cooperation
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2025-05-30•Moldova•National Bank of Moldova
Governor Anca Dragu of the National Bank of Moldova attended a high-level conference in Dubrovnik, discussing Moldova's economic outlook amid EU accession efforts. She highlighted the central bank's role in reforms, including modernizing payment infrastructure and aligning policies with EU standards, and emphasized the importance of the IMF-supported programme and the Resilience and Sustainability Facility for green reforms. Broader discussions addressed external shock management and macroeconomic policy adaptation in a volatile global environment.
Policy & regulationCooperationDomestic cooperationFinancial stability and systemic risk
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2025-05-30•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor Anca Dragu discussed Moldova's economic developments and reform priorities with Alfred Kammer, Director of the IMF's European Department, emphasizing macroeconomic stability and digitalization. Dragu highlighted the central bank's role in aligning with European standards and appreciated the IMF's support during the Dubrovnik conference.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-05-30•India•Securities & Exchange Board of India
The Securities and Exchange Board of India and the Investor Education and Protection Fund Authority will host a Niveshak Shivir in Pune on 1 June 2025 to assist investors with unpaid dividends and unclaimed shares under the IEPFA framework. The event aims to facilitate the transfer of dividends held for 6–7 years, update KYC and nominations, and resolve claims. It is organized in collaboration with key market infrastructure institutions and registrar and transfer agents.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-05-30•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force said its 42nd Heads of Financial Intelligence Unit Forum focused on preparing FIUs and operational agencies for fifth round mutual evaluations, with particular emphasis on asset recovery and revisions to Immediate Outcome 8 in the 2022 FATF methodology. The forum also adopted a six-month update report on FIU activities and ML/TF risks, received an Egmont Group update, and saw cooperation MoUs signed among several member FIUs.
Policy & regulationInternational standards & recommendationsAML and CFT
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2025-05-30•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury, with Home Affairs, reported over GBP 154,000 in suspected criminal cash and more than GBP 880,000 in drugs seized at the island's airport and sea terminal since July 2024. Seizures, mainly involving cannabis and cocaine, were conducted under the Proceeds of Crime Act and the Customs and Excise Management Act as part of the Securing our Island Strategy. Outcomes include prosecutions, financial penalties, and civil forfeiture proceedings.
EnforcementEnforcement statisticsOther
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2025-05-30•Barbados•Central Bank of Barbados
The Central Bank of Barbados' first quarterly Survey of Bank Lending Conditions shows a modest increase in household and business credit demand and a slight improvement in banks' willingness to lend. Consumer loans dominated credit requests, with residential mortgages and business loans representing the largest values. Banks approved 75% of applications, with denials mainly due to borrower creditworthiness and collateral constraints.
Data & statisticsLending
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2025-05-29•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay's Board of Directors is now fully constituted with the appointment of Dr. Julio Luis Sanguinetti as a director, approved by the Senate and appointed by the President. Sanguinetti brings extensive experience in law, investments, and public service, including roles with international organizations and corporate boards.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-29•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) identified low contribution density as a key issue, with affiliates contributing only 41% of the required 360 contributions. SIPEN introduced voluntary complementary pension accounts to boost retirement savings, offering tax-exempt contributions and pre-retirement withdrawal options. It also emphasized the need for broader social security reform, with SIPEN analyzing proposals as Congress advances discussions.
SupervisionRisk monitoring & watch points
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2025-05-29•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand unveiled pre-production samples of a new 10-cent coin featuring King Charles III, detailing quality assurance processes before full production. Existing coins and NZD 20 banknotes with Queen Elizabeth II remain legal tender, with new coins expected around 2027 and circulation timing to be announced later.
Policy & regulationImplementation, projects & pilotsOther
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2025-05-29•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia and Banca de las Oportunidades released the 2024 Financial Inclusion Report, noting 96.3% of Colombian adults had a deposit or credit product, a 1.7 percentage point increase from 2023. The report highlighted regional disparities in financial product access, with rural areas lagging behind urban areas, and persistent gender gaps. It also noted shifts in product-level access, including increased credit card access and decreased microcredit penetration.
Data & statisticsFinancial inclusion
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2025-05-29•Montenegro•Central Bank of Montenegro
Central Bank of Montenegro Governor Irena Radovic detailed efforts to align with the European System of Central Banks and support EU accession, focusing on sustainable finance and digital transformation at the MICEB 2025 conference. Key reforms include payments modernization through the Single Euro Payments Area and a national instant payment system, with potential benefits estimated at EUR 160 million annually. Radovic also discussed geo-economic fragmentation and institutional reforms with Nobel laureate James Robinson to promote growth and reduce inequalities.
Policy & regulationReform agendas & prioritiesCross-border cooperationPayments and payment systems
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2025-05-29•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has initiated a public consultation on draft amendments to the rulebook for acquiring or increasing a qualifying holding in management companies of open-ended investment funds with a public offering. The amendments update the approval request content and refine assessment criteria for qualifying holdings.
Policy & regulationRules & requirementsOther
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2025-05-29•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's May 2025 Systemic Risk Survey shows the financial sector's strongest condition and resilience since 2021, with half of executives rating performance as good or very good. The war with Russia remains the primary systemic risk, while fraud and cyber warfare have risen in concern. Overall risk is moderately high, with slight improvement, and most respondents view the sector's resilience to high-impact events as medium or high.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-05-29•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) reported the multiple banking sector's capitalisation index (ICAP) at 19.90% as of end-March 2025. The Basic Capital Ratio (CCB) was 17.88%, and the Fundamental Capital Ratio (CCF) was 16.45%.
Data & statisticsCapital adequacy
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2025-05-29•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced that Mauritius rose six places to 42nd globally in the 11th Smart Centres Index, with a rating increase of 11 points to 659. It ranked fifth in the Middle Eastern and African region, due to innovation-friendly regulation, fintech ecosystem development, and digital finance and sustainability initiatives. The FSC highlighted ongoing regulatory enhancements and investment in supervisory technologies.
Data & statisticsFintech and insurtechSupervisory data
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2025-05-29•Ukraine•Ukraine National Commission on Securities and Stock Market
The Chairman of the Ukraine National Commission on Securities and Stock Market, Ruslan Magomedov, advised safe investing during wartime, emphasizing verified sources and conservative instruments like domestic government bonds and bank deposits. He highlighted the benefits of bonds in Ukrainian hryvnia, USD, and EUR for managing devaluation risk. The Commission is developing an "investment accounts" mechanism, with Draft Law No. 8111 pending parliamentary approval.
Financial literacy & educationFinancial literacy and education
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2025-05-29•Peru•Central Bank of Peru
The Central Bank of Peru reported a 16.4% increase in Peru's terms of trade for Q1 2025, driven by a 13.8% rise in export prices and a 2.2% decline in import prices. Export price gains were primarily due to higher prices for traditional mining products and non-traditional exports like fishery and chemicals, while lower import prices were influenced by a significant drop in oil and industrial input prices.
Data & statisticsBalance of payments and other external statistics
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2025-05-29•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) signed a partnership to establish a national export credit insurance scheme as part of Morocco’s foreign trade roadmap. The scheme aims to protect exporters against commercial and political risks, focusing on 15 priority African markets, with government guarantees and participation from credit insurers and the national reinsurer. ACAPS will oversee the scheme's integration into the prudential framework, ensuring financial balance and sustainability.
Policy & regulationImplementation, projects & pilots
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2025-05-29•Ireland•Central Bank of Ireland
The Central Bank of Ireland's 2024 Annual Report outlines a refreshed three-year strategy focusing on organizational and supervisory enhancements. Key initiatives include changes to the Fitness and Probity regime, macroprudential measures for GBP liability-driven investment funds, and an innovation sandbox to combat financial crime. The report also details contributions to Ireland’s National Payment Strategy, the Digital Euro project, and preparations for EU legislation like the Markets in Crypto-Assets Regulation and the Digital Operational Resilience Act.
Institutional developmentMandate & organizational structureOther
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2025-05-29•Georgia•National Bank of Georgia
The National Bank of Georgia reported a meeting between Governor Natia Turnava and Central Bank of Iceland Governor Ásgeir Jónsson, discussing monetary policy, macroeconomic developments, and financial stability in Georgia. They explored future bilateral cooperation and joint projects, emphasizing alignment with European Union standards. Jónsson is attending a conference in Georgia marking the 30th anniversary of the lari and will join a panel on global financial shifts.
Policy & regulationCooperationOther
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2025-05-29•Georgia•National Bank of Georgia
The National Bank of Georgia reported that Governor Natia Turnava met with Taejun Shin, CEO of Gojo & Company, highlighting Georgia's stable macroeconomic environment and financial sector resilience. Gojo & Company, holding a 16.8% stake in Credo Bank, views Georgia as having strong growth potential and plans to expand investments to support regional communities.
Other
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2025-05-29•Nigeria•Nigeria Securities & Exchange Commission
The Nigeria Securities and Exchange Commission has extended the deadline for registered Capital Market Operators to complete its Technology Adoption Survey to 31 May 2025. Participation remains mandatory for all non-responding firms, with compliance being monitored by the SEC.
SupervisionRegulatory reporting
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2025-05-29•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority published a notice for Banque de Développement Local shareholders. The bank’s ordinary and extraordinary general meetings are scheduled for 29 June 2025 at 9:30 a.m. at the Sheraton hotel in Algiers.
SupervisionOther
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2025-05-29•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) detailed its management of Australia's new mandatory climate-related reporting regime during a keynote by Commissioner Kate O’Rourke. The framework, introduced in three cohorts by entity size, adds sustainability reporting to annual reports, covering climate risks, metrics, governance, and scenario analysis. ASIC updated its sustainability guide, Regulatory Guide 280, to include scenario analysis and scope 3 emissions. ASIC is reviewing relief applications, planning educational materials for smaller entities, and will focus on serious misconduct and greenwashing in enforcement.
SupervisionSupervision approach, priorities & toolkitClimate risk and sustainable finance
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2025-05-29•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance and the Bank of Greece view UniCredit's increased stake in Alpha Bank as positive for the Greek economy. Minister Kyriakos Pierrakakis and Governor Yannis Stournaras discussed European financial integration, Greece’s economic outlook, and fiscal and banking issues. Pierrakakis advocated reducing barriers in the services sector and highlighted banking's role in combating tax evasion through digitization.
Policy & regulationReform agendas & prioritiesOther
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2025-05-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DSP-471, detailing regulations for the Settlement Operating Mechanism. This module aims to enhance interoperability among immediate low-value payment systems.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Circular Externa Operativa y de Servicios DSP-470 (Asunto 19), setting operational regulations for the Centralized Directory (DICE). This module aims to facilitate interoperability among immediate low-value payment systems.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DSP-470, Subject 19, detailing regulations for the Centralized Directory DICE.
Policy & regulationRules & requirementsMarket infrastructure
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2025-05-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DSP-471, Subject 20, detailing regulations for the Operational Mechanism for Settlement (MOL).
Policy & regulationRules & requirementsMarket infrastructure
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2025-05-29•United Kingdom•Financial Conduct Authority
The Upper Tribunal upheld the Financial Conduct Authority's decision to ban Toni Fox and David Brian Price from financial services, revoke their senior management approvals, and impose financial penalties for misconduct in pension transfer advice. The Tribunal endorsed recalculated fines of GBP 567,584 for Fox and GBP 465,415 for Price, citing serious breaches of FCA rules and a risk of customer harm. The misconduct involved advising on 1,470 pension transfers worth over GBP 392 million, including cases related to the British Steel Pension Scheme.
EnforcementSanctions & designations
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2025-05-29•United States•National Futures Association
The National Futures Association fined NinjaTrader Clearing LLC USD 250,000 for breaches of NFA Compliance Rules related to supervision and anti-money laundering controls. The decision followed a complaint alleging inadequate anti-money laundering programs and supervision failures, with the firm neither admitting nor denying the allegations in its settlement offer.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-05-29•United States•National Futures Association
The National Futures Association (NFA) has fined OANDA Corporation USD 600,000 and mandated restitution to certain customers following a Business Conduct Committee (BCC) order. The BCC found OANDA violated multiple NFA Financial Requirements and Compliance Rules, including failures in net capital maintenance, security deposit collection, and supervisory practices. OANDA neither admitted nor denied the allegations in the settlement.
EnforcementInvestigations & enforcement actionsCapital adequacyPrudential risks
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2025-05-29•Bolivia•Financial System Supervisory Authority of Bolivia
The Financial System Supervisory Authority of Bolivia (ASFI) has retained its ISO 9001:2015 Quality Management System certification after an audit by the Bolivian Institute of Standardization and Quality. The certification pertains to ASFI's processes for public enquiries and consumer complaints management. From July 2023, ASFI handled 186,102 enquiries and 2,911 second-instance complaints, resolving 2,185 in favor of consumers.
Institutional developmentGovernanceOperational excellence
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2025-05-29•New Zealand•Department of Internal Affairs
New Zealand's Department of Internal Affairs has issued guidance for a customer risk-rating system under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Effective 1 June 2025, entities must risk-rate new customers, maintain records, and update them as part of due diligence. The guidance emphasizes a tailored, risk-based approach, considering customer and country exposure, with simple frameworks for smaller businesses and sophisticated tools for larger ones. Records must be retained for at least five years.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-29•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency attended a seminar on supervising sustainability risks, focusing on climate change's impact on the economy and financial system. Discussions covered the insurance industry's shift to sustainable models and challenges in climate-related oversight, highlighted by a case study on the 2024 floods in Spain with insured losses over EUR 4.5 billion. The seminar included representatives from the European Insurance and Occupational Pensions Authority, national regulators, insurers, and a pension fund.
SupervisionCooperationClimate risk and sustainable finance
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2025-05-29•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) issued a warning about eight entities operating without authorisation to take money from the public. These entities, including COOPAC La Troyca and Finniu App, may falsely claim SBS authorisation and promise high returns. The SBS advises the public to verify investment legitimacy and report unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-29•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) and Saudi Arabia’s Capital Market Authority (CMA) agreed to enhance collaboration and work towards a memorandum of understanding for cross-border investment initiatives. Senior executives witnessed the listing of Asia’s first investment grade Sukuk exchange-traded fund (ETF) in Hong Kong. The SFC highlighted growth in linked ETF products, with significant increases in the size of Saudi and Hong Kong-listed ETFs.
Policy & regulationCooperationCross-border cooperation
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2025-05-29•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation released Q&A educational material to clarify applying IFRS S2 Climate-related Disclosures on GHG emissions measurement and disclosure. This aids in implementing the International Sustainability Standards Board’s Standards and understanding IFRS S2’s requirements without altering them, covering the context, rationale, and specific aspects of GHG emissions-related disclosure requirements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-05-29•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its quarterly industry aggregate insurance statistical publications for March 2025, detailing performance statistics for general insurance, life insurance, and private health insurance.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-29•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan issued a note cautioning consumers about phishing scams and providing steps to mitigate credential and payment-data theft. The guidance highlights tactics used by fraudsters, such as fake websites and suspicious links, and advises on protective measures like verifying URLs, using antivirus software, and employing virtual cards for online purchases.
Financial literacy & educationFraud and scams
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2025-05-29•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and the Hong Kong University of Science and Technology’s Business School have signed a Memorandum of Understanding to collaborate on applied cybersecurity research for Hong Kong’s financial sector. The partnership aims to advance research, develop practical applications, and explore Suptech and Regtech solutions, including large language models, to enhance supervisory capabilities and cybersecurity resilience. Financial institutions will validate research outcomes and address evolving cybersecurity challenges.
Policy & regulationCooperationCyber resilienceRegtech and suptech
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2025-05-29•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released a discussion paper on implementing Basel III liquidity standards, emphasizing the Liquidity Coverage Ratio (LCR). The paper includes draft reporting forms, guidance, and a summary reporting form by significant currency, following the October 2024 implementation roadmap.
Policy & regulationGuidance & interpretationLiquidity riskPrudential risks
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2025-05-29•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has granted Providence Life Assurance Company (Bermuda) Limited a permit under section 22 of the Insurance Act 2008 to conduct Class 1 and Class 2 insurance business. The permit is effective immediately.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-29•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland has established a Financial Markets Advisory Council, appointing 14 members to provide insights on economic and financial market conditions. The council includes leaders from major financial institutions such as Bank of America, Goldman Sachs, and the New York Stock Exchange. Members will serve three-year terms, with Cleveland Fed staff restricted from sharing non-public information.
Institutional developmentGovernanceOther
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2025-05-29•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
MENAFATF and EAG held a Joint Forum in Moscow to discuss digitalisation-related risks, including cybercrime and terrorist financing, with international experts and organizations. The event aimed to enhance cooperation and share best practices among supervisory authorities, the private sector, and international bodies.
Policy & regulationCooperationAML and CFTCyber resilienceArtificial intelligence
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2025-05-29•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
MENAFATF and EAG held a joint forum in Moscow on May 28, 2025, focusing on evolving risk management frameworks in response to new technologies. Attended by senior officials and international representatives, the event addressed cybercrime, digital risks, and AI in know-your-customer controls, highlighting regional cooperation as a model for tackling emerging financial crime challenges.
Policy & regulationCooperationAML and CFTCyber resilienceArtificial intelligence
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2025-05-29•Middle East•Arab Monetary Fund
The Arab Monetary Fund's 57th Arab Financial Market Monthly Bulletin reports a broad decline in Arab financial markets in April 2025 due to global volatility from U.S. tariff hikes, with six markets gaining and seven declining. The bulletin notes a global sell-off linked to the tariff announcement, with recoveries following a three-month suspension, and highlights interest rate cuts by several central banks amid rising protectionism concerns.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-29•San Marino•Central Bank of San Marino
At a seminar on "Fintech in Micro States," Central Bank of San Marino's Director General Andrea Vivoli emphasized the benefits of partnerships between traditional banks, financial intermediaries, and fintech operators. He expressed the bank's commitment to collaborating with trade associations and financial operators to develop a fintech action plan, highlighting the need for robust infrastructure and regulatory measures like sandboxes, incorporating international experience and best practices.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-05-29•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has launched the fifth edition of the Cybersecurity Leaders Program to enhance cyber resilience in the banking and financial sector, in collaboration with Kuwaiti banks and the Kuwait Institute of Banking Studies. The three-month program, part of the Kafa’a initiative, includes training with the SANS Cyber Institute and a workshop with the Bank for International Settlements, with applications open from 29 May to 30 June 2025.
Policy & regulationImplementation, projects & pilotsCyber resilience
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2025-05-29•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan concluded its MF252228 credit auction on 29 May 2025, placing TJS 30,000,000. Submitted bids matched the issuance volume, with both the offered and weighted-average annual interest rate set at 9.00%.
Monetary policyMonetary policy instruments & operationsLicence approval
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2025-05-29•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) highlighted director Carlos Queiroz’s discussion at the ENS event on the impact of new CNSP and SUSEP regulations under Brazil’s new Insurance Contract Law. Queiroz noted the law consolidates judicial interpretations, modernizes the insurance contract framework, incorporates Superior Court of Justice jurisprudence, and establishes specific rules and protections for policyholders and insurers.
Policy & regulationGuidance & interpretationOther
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2025-05-29•South Africa•South African Reserve Bank
The South African Reserve Bank's 2025 Biennial Conference reviewed 25 years of inflation targeting, discussing post-pandemic framework evolution. Participants supported lowering South Africa's 3–6% inflation target to enhance price stability, aligning with 2-3% targets of other economies. The conference addressed benefits of lower inflation, such as reduced uncertainty and fiscal gains, while considering constraints like administered prices and fiscal deficits.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-05-29•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority's research, "Good Cents: Kiwis on Savings and Debt," reveals a disconnect between New Zealanders' financial goals and investment behaviors, with discomfort in discussing finances. The report calls for better alignment of investment choices with goals, improved debt management understanding, increased consumer comfort in seeking financial guidance, and invites industry engagement to address these insights.
ResearchFinancial literacy and education
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2025-05-29•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) announced the appointment of Ms Goh Swee Chen and Professor Ho Teck Hua to its Board of Directors, alongside the re-appointment of Mr Lim Hng Kiang, each for a three-year term starting 1 June 2025. Ms Goh is Chairman of the National Arts Council and NTU Board of Trustees, while Professor Ho is President of NTU. Mr Lim serves as Special Advisor to the Ministry of Trade and Industry.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-29•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore has tasked the Corporate Governance Advisory Committee (CGAC) with reviewing the Code of Corporate Governance to enhance practices among listed companies. The review will involve industry consultation and focus on meaningful implementation, corporate culture, board effectiveness, and risk management in areas like artificial intelligence. Recommendations will be developed for potential updates to the corporate governance framework.
Policy & regulationGuidance & interpretationCorporate governance