-
2025-05-29•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SRE 2/2025, detailing new procedures for intermediaries submitting registration requests for public distribution offerings under CVM Resolution 160. From 2 June 2025, a new ordinary-procedure module will be available in the Offers Registration System (Sistema SRE), requiring ordinary-procedure offerings, except CIC hoteleiro public offerings, to be filed through the system. The circular also introduces an expiry routine for offerings and allows lead coordinators to amend information in Sistema SRE post-registration.
Policy & regulationGuidance & interpretationSecurities offerings and listings
-
2025-05-29•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile public reception in Ganja to enhance the protection of financial services consumers' and investors' rights. The event aims to address financial services-related enquiries and applications from residents of Ganja and surrounding areas.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
-
2025-05-29•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro and the Croatian National Bank signed an agreement for operational cooperation on euro cash exchange. It covers the exchange of fit and unfit euro banknotes and coins under a "cash for cash" system, detailing technical, security, and logistical conditions. The agreement aims to enhance cash handling standards and optimize euro cash flow management in line with European central bank standards.
Policy & regulationCooperationCross-border cooperation
-
2025-05-29•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) has launched the OSC LaunchPad Long-Term Asset Fund Project to facilitate new investment fund products for retail investors, offering exposure to long-term assets. The initiative will explore novel exemptive relief requests and tailored investor protection controls, responding to feedback from the OSC's October 2024 consultation. Collaboration between the OSC's Investment Management Division and Office of Economic Growth and Innovation will drive the project, with stakeholder engagement invited on product structures and necessary exemptive relief.
Policy & regulationImplementation, projects & pilotsMarket development
-
2025-05-29•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission introduced the SEC RENT guidelines to simplify securities registration for real estate firms in rental pool arrangements. It mandates a 45-day review period for registration statements after pre-evaluation clearance. The launch, in collaboration with the Chamber of Real Estate & Builders’ Association, Inc., also highlighted alternative capital-raising channels like securitized real estate offerings.
Policy & regulationRules & requirementsSecurities offerings and listings
-
2025-05-29•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced the appointment of Steve Geist and Douglas E. Turnbull to its Board of Directors for two-year terms starting 1 May 2025. Joanne De Laurentiis was re-appointed as Chair with a six-month extension effective 28 June 2025. Peggy McCallum and Lucie Tedesco were re-appointed for three-year terms beginning 18 May 2025 and 13 July 2025, respectively.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-05-29•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC has directed NR Instant Produce Public Company Limited to rectify its 2024 and Q1 2025 financial statements after reviewing its accounting treatment of a shareholding change in Kairous Asia Limited. The SEC found NRF's initial classification as a business combination incorrect, requiring adjustment to an asset acquisition and assessment of potential impairment in SPAC-related assets. NRF must submit the rectified statements and disclose them via SETLink by 30 June 2025.
SupervisionInterventionsAccounting and financial reportingAuditing
-
2025-05-29•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC has filed criminal complaints against five digital asset trading platforms, including Bybit.com and OKX, for operating without a licence. The Ministry of Digital Economy and Society will restrict access to these platforms from 28 June 2025 under the Royal Decree on Technological Crimes. The SEC warns investors of potential risks, including lack of legal protection and exposure to scams and money laundering.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
-
2025-05-29•Global•ISDA
The International Swaps and Derivatives Association (ISDA) announced the first recalibration of the ISDA Standard Initial Margin Model under a new semiannual cycle, effective July 12, highlighting that EU counterparties must obtain regulatory authorization to continue using the model. Under the revised European Market Infrastructure Regulation (EMIR 3), EU entities must submit a complete application before using any new or modified initial margin model, with ISDA providing guidance on the new EU application process.
Policy & regulationRules & requirementsPrudential risksRegulatory reporting
-
2025-05-29•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC imposed a CAD 348,067.50 penalty on Crystal Currency Exchange Inc. for violations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Infractions included failing to report suspicious transactions, large cash transactions, and electronic funds transfers of CAD 10,000 or more, alongside compliance regime deficiencies like lack of a compliance officer and inadequate risk assessment.
EnforcementInvestigations & enforcement actionsAML and CFT
-
2025-05-29•Hungary•National Bank of Hungary
The National Bank of Hungary's Financial Stability Report highlights the robust condition of the Hungarian banking system, with high profitability, liquidity, and capitalisation, alongside a low non-performing loan ratio. Solvency stress tests confirm resilience under adverse scenarios, with a consolidated capital adequacy ratio of 20.5% and substantial free capital supporting potential additional lending. Despite a slight decline in profitability, liquidity remains ample, though expected to be affected by central bank loans and municipal deposit transfers in 2025.
ResearchCapital adequacyLiquidity risk
-
2025-05-29•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services introduced the bipartisan Digital Asset Market Clarity (CLARITY) Act to establish a regulatory framework for digital assets. The bill aims to provide clearer guidelines, enhance oversight, and protect consumers and investors, while supporting self-custody and transaction freedom. It builds on previous legislative efforts, including the Financial Innovation and Technology for the 21st Century Act and recent market structure discussions.
Policy & regulationRules & requirements
-
2025-05-29•Russia•Central Bank of Russia
The Bank of Russia's 2025 Q1 Banking Regulation Review details prudential changes and reforms, including a new methodology for classifying systemically important credit institutions to support differentiated capital buffers. Updates include revised risk-sensitive limits on immobilised assets and temporary flexibility in loan quality classification for certain restructured corporate exposures. Future plans involve updated regulations for concession project funding and credit risk assessment for developers, with implementation expected in 2026.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
-
2025-05-29•Russia•Central Bank of Russia
The Central Bank of Russia has proposed draft amendments to its inspection procedures, eliminating triennial inspections in favor of a fully risk-based model. Inspections will be conducted as needed, based on assessments of entities' activities, affecting credit institutions, pension funds, insurers, and others. The aim is to reduce the administrative burden on compliant and transparent participants.
Policy & regulationRules & requirementsSupervision process and methodologies
-
2025-05-29•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) have extended the comment period for proposed amendments to National Instrument 23-101 Trading Rules, aiming to lower the active trading fee cap for U.S. Inter-listed Securities. The CSA is soliciting feedback on alternative fee caps, including CAD 0.0010, CAD 0.0014, and CAD 0.0017, or other suggestions. Previously received comments are accessible on the websites of the Alberta Securities Commission, Ontario Securities Commission, and Autorité des marchés financiers.
Policy & regulationRules & requirementsTrading
-
2025-05-29•Vietnam•State Bank of Vietnam
Deputy Governor Pham Thanh Ha of the State Bank of Vietnam joined the Prime Minister on an official visit to Malaysia for the 46th ASEAN Summit, focusing on economic cooperation and central bank capacity building. Discussions included potential tailored support from the Southeast Asian Central Banks (SEACEN) training centre and bilateral engagements with China on trade and infrastructure projects. Ha also explored regional central bank practices and cooperation in emerging areas like AI and digital transformation with Bank Negara Malaysia and SEACEN.
Institutional developmentCooperation & capacity buildingCross-border cooperation
-
2025-05-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam outlined the Banking Sector Digital Transformation Event 2025, emphasizing Prime Minister Pham Minh Chinh's push for digital transformation tied to a VND 500 trillion credit package. He stressed legal reforms, inclusive digital infrastructure, and enhanced cybersecurity, proposing expanded credit support with lower interest rates. Goals include a sector-wide data foundation, continuous payment infrastructure, integration with healthcare and education, and full online public service upgrades by 2025.
Policy & regulationReform agendas & prioritiesFintech and insurtechMarket development
-
2025-05-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's annual Banking Sector Digital Transformation 2025 event emphasized a customer-centric digital ecosystem driven by data. Key developments include an interbank electronic payment system processing VND 820 trillion daily, biometric verification for over 113 million records, and a VND 500 trillion credit program for infrastructure and digital technology projects. The central bank also highlighted cross-border QR retail payment connectivity with Thailand, Cambodia, and Laos.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
-
2025-05-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam, directed by Communist Party General Secretary To Lam, is tasked with reforming Vietnam's gold market management. Priorities include revising Decree 24/2012 for phased marketisation, improving domestic-international market linkages, and removing the state monopoly on gold bullion branding. Additional measures involve expanding import rights, developing the gold jewellery market, and exploring options for a national gold exchange or trading floor.
Policy & regulationReform agendas & prioritiesForeign exchange policy and markets
-
2025-05-29•United States•Federal Reserve Board
Federal Reserve Board Chair Jerome Powell met with the President at the White House to discuss economic developments, emphasizing that monetary policy expectations were not discussed. Powell noted that the policy path will depend on incoming economic data, with FOMC decisions guided by the mandate to support maximum employment and stable prices through objective analysis.
Monetary policyOtherMonetary policy decisions and developments
-
2025-05-29•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) has added 43 unregistered foreign entities to its Registration Deficient List (Red List), now totaling nearly 300. These firms seem to act as derivatives intermediaries without CFTC registration, especially in binary options and foreign exchange trading. The CFTC reiterates its consumer warning on fraud schemes involving binary options, including account manipulation and identity theft.
SupervisionAlertsSanctions list update
-
2025-05-29•United States•Commodity Futures Trading Commission
The US Commodity Futures Trading Commission (CFTC) awarded about USD 700,000 to a whistleblower whose information led to an investigation and order, despite a reduced award due to reporting delays and culpability. The CFTC's Whistleblower Program, established under the Dodd-Frank Act, has granted around USD 390 million since 2014, with awards ranging from 10 to 30 percent of collected sanctions. Whistleblowers are protected by confidentiality, and tips can be submitted electronically via Form TCR.
EnforcementWhistleblowing
-
2025-05-29•Chile•Chile Financial Market Commission
The Chile Financial Market Commission published its April 2025 Report on the Performance of the Banking System and Cooperatives, detailing activity, risk, and results for supervised entities.
Data & statisticsActivity and performance reporting
-
2025-05-29•United States•U.S. Securities & Exchange Commission
SEC Commissioner Caroline A. Crenshaw criticized a Division of Corporation Finance staff statement that protocol staking and related services aren't investment contracts under SEC jurisdiction. She argued this conflicts with the Howey test and recent court decisions, highlighting inconsistencies in treating staking services as securities. Crenshaw expressed concern over the absence of a formal regulatory framework following the SEC Crypto Task Force's launch, relying instead on informal measures.
Policy & regulationGuidance & interpretationSecurities offerings and listings
-
2025-05-29•United States•U.S. Securities & Exchange Commission
The U.S. SEC’s Division of Corporation Finance clarified that certain proof-of-stake blockchain protocol staking activities are not considered securities transactions under federal laws. This applies to self-staking and staking-as-a-service providers, even when bundled with ancillary services. The Division, alongside the SEC’s Crypto Task Force, will continue assessing the securities status of other network-consensus-related activities.
Policy & regulationGuidance & interpretationBlockchain and distributed ledger technology
-
2025-05-29•United States•U.S. Securities & Exchange Commission
The U.S. SEC’s Division of Corporation Finance clarified that certain "protocol staking" activities on proof-of-stake networks are not securities offerings under the Securities Act of 1933 or the Securities Exchange Act of 1934. The statement applies to "Covered Crypto Assets" on public, permissionless networks, noting that staking rewards are administrative, not profit-driven. It is a staff view without legal force and does not cover other staking forms like liquid staking.
Policy & regulationGuidance & interpretationSecurities offerings and listings
-
2025-05-29•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission's Investor Advisory Committee will meet on June 5, 2025, to discuss pass-through voting, non-GAAP financial disclosures, and mandatory arbitration clauses by SEC-registered investment advisers. The meeting will include panels on engaging beneficial owners and market perspectives on non-GAAP disclosures. The committee advises the SEC on investor-related regulatory priorities and can submit recommendations.
Policy & regulationOtherBeneficial ownership
-
2025-05-29•Egypt•Central Bank of Egypt
Hassan Abdalla, Governor of the Central Bank of Egypt, congratulated Dr. Khaled Sherif on his appointment as Executive Director for Egypt and Djibouti at the African Development Bank Group for a three-year term. The statement highlighted the role's importance in advancing the interests of both countries at the AfDB.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-05-29•United States•Office of the Comptroller of the Currency
Acting Comptroller Rodney E. Hood of the Office of the Comptroller of the Currency highlighted financial literacy education as crucial for financial inclusion and participation in his remarks to the Financial Literacy and Education Commission. He stressed the importance of updating education strategies to align with market innovations, including digital assets, and urged banks to support customers' financial health.
Financial literacy & educationFinancial literacy and education
-
2025-05-29•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) president highlighted the country's advanced regulatory framework for virtual asset service providers (PSAVs) during a postgraduate programme on anti-money laundering and counter-terrorist financing. He emphasized the CNV's commitment to effective regulation balancing compliance with innovation, avoiding overregulation. The programme also covered international standards and challenges related to bitcoin, fintech, and emerging technologies.
Policy & regulationGuidance & interpretationAML and CFTCompliance
-
2025-05-29•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission and the Democratic Republic of the Congo's insurance regulator signed a memorandum of understanding to enhance bilateral cooperation on insurance supervision. The agreement follows discussions on insurance market developments and regulatory collaboration priorities, aligning with understandings from the Forum on China-Africa Cooperation summit.
Policy & regulationCooperationCross-border cooperation
-
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 metrics for general, life, and private health insurance.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-05-29•Asia•Eurasian Group (EAG)
The Eurasian Group on Combating Money Laundering and Financing of Terrorism has opened its 42nd plenary session in Moscow. Discussions are centered on preparing countries for the next round of mutual evaluations, implementing updated FATF standards and strengthening AML/CFT training. The chair also highlighted shared risks from terrorism, transnational crime, corruption and the misuse of new technologies and virtual assets.
Policy & regulationCooperationAML and CFTSupervisory colleges
-
2025-05-29•Bangladesh•Bangladesh Securities & Exchange Commission
The Bangladesh Securities and Exchange Commission repealed its 28 May 2023 order reconstituting the Shari'ah Advisory Council (SAC) to better align with Islamic Shari’ah and support the Islamic capital market. This action was taken under section 20A of the Securities and Exchange Ordinance, 1969, and rule 3(1) of the Bangladesh Securities and Exchange Commission (Securities Market Shari'ah Advisory Council) Rules, 2022.
Policy & regulationRules & requirementsOrganizational structure
-
2025-05-29•Moldova•National Bank of Moldova
The National Bank of Moldova will actively participate in implementing Moldova's National Programme for EU accession from 2025 to 2029, focusing on harmonising financial and monetary frameworks with European norms. It will lead negotiations on capital movement, financial services, and economic and monetary policy, while contributing to financial stability and digitalisation. Moldova's EU accession talks began in June 2024 and are in the screening stage.
Policy & regulationCooperationOther
-
2025-05-29•Argentina•Central Bank of Argentina
Central Bank of Argentina Vice President Vladimir Werning discussed monetary policy challenges at the CEMLA Meeting, highlighting the smooth transition to "Stage 3" of the economic programme with increased exchange-rate freedom. He credited orthodox macroeconomic policies and an IMF agreement for the non-disruptive transition, noting improvements in inflation, credit recovery, and external balance compared to the 2016–17 stabilisation attempt. The presentation is available for download.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
-
2025-05-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported insurance industry figures through April 2025, highlighting a 68.6% decline in life insurers' pre-tax profit to NT$44.9 billion, partially offset by stable non-life insurance results. The sector's owners' equity totaled NT$2,368.9 billion, with life insurers' equity down 6.5% and non-life insurers' equity up 9.5%. The New Taiwan Dollar appreciated 2.39% against the US Dollar, impacting foreign exchange reserves and overseas investment gains.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-05-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported a 34% year-on-year increase in new foreign-currency denominated policy premiums, totaling NT$99.476 billion as of March 2025. Investment-linked insurance products rose 67% to NT$15.497 billion, while traditional insurance products increased 30% to NT$83.979 billion.
Data & statisticsFinancial and market indicators
-
2025-05-29•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE imposed a financial sanction of 100 million AED on an exchange house for significant failures in its anti-money laundering and combating the financing of terrorism framework. The action was taken under Article 137 of Decretal Federal Law No. 14 of 2018. The CBUAE emphasized the obligation of exchange houses, their owners, and staff to adhere to UAE laws and CBUAE standards.
EnforcementInvestigations & enforcement actionsAML and CFT
-
2025-05-29•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) warns of critical Israeli shekel (ILS) accumulation in Palestinian banks, hindering trade financing with Israel due to transfer restrictions. This exacerbates financial burdens, complicates ILS transactions, and fosters a currency exchange black market. The PMA urges urgent international intervention to resolve the issue, warning that continued disruption could strain liquidity and slow economic activity in Palestine.
SupervisionRisk monitoring & watch pointsMarket risk and volatility
-
2025-05-28•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission (FSC) granted Elana Fund Management AD a permit to manage the national open-ended mutual fund “Elana Alternative Deposit” and registered it as a national investment fund. The FSC also approved amendments to the Bulgarian Stock Exchange AD’s market rules and the assignment of activities by the Bulgarian Receivables Fund REIT. Additionally, the FSC adopted its 2024 annual activity report.
SupervisionAuthorisations & approvalsLicence approval
-
2025-05-28•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia has implemented measures to facilitate public savings in Unidades de Fomento a la Vivienda (UFV) to help preserve purchasing power. These include offering redeemable UFV-denominated bills to financial entities and enabling direct electronic transfers between UFV accounts. Additionally, the bank will conduct training and outreach with the Financial System Supervision Authority to promote UFV savings understanding.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
-
2025-05-28•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) authorized Naturgy Energy Group, S.A.'s voluntary partial public tender offer to repurchase up to 88,000,000 shares, representing 9.08% of its share capital, at EUR 26.50 per share. The offer aims to increase treasury shares and liquidity, facilitating a return to major stock indices. Backed by four bank guarantees totaling EUR 2.332 billion, the offer will be oversubscribed, triggering allocation and proration rules.
SupervisionAuthorisations & approvalsSecurities offerings and listings
-
2025-05-28•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) met with the Inter-American Conference on Social Security (CISS) to assess the Dominican pension system and enhance CISS's technical support. The cooperation focuses on capacity-building, technical assistance, and governance best practices, with CISS providing actuarial support on pensions and longevity insurance. SIPEN highlighted five collaborative projects, including developing a longevity insurance mechanism and an actuarial training program.
Institutional developmentCooperation & capacity buildingCapacity buildingDomestic cooperation
-
2025-05-28•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia seeks feedback on proposed changes to the Basic Accounting and Financial Circular (CBCF), restructuring it into the Basic Circular on Risks, Prudential Matters, and Financial Information (CBRAPIF). The draft CBRAPIF addresses obsolescence and streamlines risk management and financial information alignment with prudential requirements. The initiative includes an equivalence table and change-control file to aid stakeholder review.
Policy & regulationRules & requirementsAccounting and financial reporting
-
2025-05-28•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
The National Banking and Securities Commission (CNBV) and the National Institute of Statistics and Geography (INEGI) released findings from the 2024 National Survey of Business Financing (ENAFIN 2024), highlighting progress in financial inclusion and persistent gaps in firms' access to the financial system. The survey provides detailed data by firm size, economic sector, and locality, and introduces new questions on financial planning, technology use, and digital services, including a gender perspective.
Data & statisticsFinancial inclusion
-
2025-05-28•Greece•Bank of Greece
Bank of Greece Governor Yannis Stournaras praised Unicredit's increased shareholding in Alpha Bank as a positive development, highlighting its potential to enhance Greek banking and the economy. He emphasized the transaction as a model for EU banking evolution, advocating for cross-border cooperation, completion of the Banking Union and Capital Markets Union, and procedural simplification to reduce fragmentation and improve efficiency.
Policy & regulationOtherCross-border cooperation
-
2025-05-28•Greece•Bank of Greece
The Bank of Greece reported a 0.8% decline in the insurance sector's balance sheet for Q1 2025, with total assets at EUR 21,059 million and insurance technical reserves down by EUR 244 million to EUR 15,555 million. Asset declines were noted in deposits and debt securities, while investment fund shares and equity holdings increased. On the liabilities side, own funds rose, but life and non-life technical reserves decreased.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-05-28•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has urged major tech companies, including Meta, TikTok, and Alphabet, to prevent the promotion of unauthorised financial services on their platforms. ESMA highlighted the rise of online scams misleading retail investors and causing financial losses, aligning its efforts with a recent initiative by the International Organization of Securities Commissions.
SupervisionAlertsUnlicensed or unauthorized activity
-
2025-05-28•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has renewed the mandates of Klaus Löber as Chair of the Central Counterparties Supervisory Committee, and Nicoletta Giusto and Froukelien Wendt as Independent Members, effective 1 December for five years. The Committee oversees EU and third-country central counterparties under the European Market Infrastructure Regulation, focusing on supervisory standards, convergence, and risk management.
Institutional developmentLeadership change & appointmentsMandate change
-
2025-05-28•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) released a joint declaration from the Group of Eight Chairs, reaffirming commitment to corporate governance principles like accountability, trust, and transparency. It emphasizes clear, principles-based frameworks to address fragmented regulatory environments and international expectations, particularly concerning ESG and DEI. It advocates for governance codes balancing entrepreneurial freedom with accountability, especially amid challenges like cybersecurity and artificial intelligence.
Policy & regulationCooperationCorporate governance
-
2025-05-28•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority held an awareness session at Kigali Independent University Gisenyi campus to introduce students to investment opportunities and promote a savings culture. The event is part of CMA's educational campaign on the benefits of investing in the Rwanda Stock Exchange. The campaign will culminate in a Capital Market Youth Forum in Kigali on 20 June 2025.
Financial literacy & educationFinancial literacy and education
-
2025-05-28•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority, in partnership with the Rwanda Stock Exchange and Rwanda National Investment Trust Ltd, conducted the Capital Market Youth Forum Up-Country Roadshow at INES-Ruhengeri to enhance financial literacy among youth. About 400 students attended sessions on saving, investment strategies, and financial planning, with presentations from key industry figures. The event emphasized practical engagement in Rwanda’s capital markets and included interactive discussions with faculty and industry participants.
Financial literacy & educationFinancial literacy and education
-
2025-05-28•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority participated in launching 11 books to enhance public understanding of insurance through fiction, as part of a Tanzania Fasihi Fund event in Dar es Salaam. TIRA was recognized for supporting the arts as a means of insurance education and as a major festival sponsor. The initiative aligns with the government's 2030 goals for insurance awareness, with books to be distributed to libraries, schools, and universities.
Financial literacy & educationFinancial literacy and education
-
2025-05-28•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a draft regulatory act to amend the settlement mechanism for over-the-counter transactions in foreign-currency-denominated government bonds, aligning with IMF commitments. The proposal mandates non-bank financial institutions to conduct these transactions on a delivery versus payment basis through the Settlement Center. The NSSMC highlighted potential issues with current regulations that could prevent legal entities from selling existing bonds and has requested the National Bank of Ukraine to address this.
Policy & regulationRules & requirementsForeign exchange policy and markets
-
2025-05-28•Angola•Ministry of Finance (Angola)
Angola's Ministry of Finance announced a cooperation protocol between the Insurance Regulatory and Supervisory Agency (ARSEG) and the General Tax Administration (AGT) to enhance financial stability. The agreement focuses on information sharing, coordinated supervision, and technical exchange to improve insurance oversight and tax compliance. ARSEG aims to reduce tax evasion, while AGT plans to use shared databases for better compliance assessment and develop platforms for effective taxation and misconduct verification.
Policy & regulationCooperationDomestic cooperation
-
2025-05-28•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets released a report titled “Challenges and opportunities in the digital provision of pension information,” recommending improvements for digital delivery of legally required pension information. It highlights benefits and risks of digital channels, emphasizing providers' responsibility to ensure disclosures reach all participants, including those less digitally skilled. A review of 36 pension providers revealed varied delivery methods and monitoring practices.
Policy & regulationGuidance & interpretationOther
-
2025-05-28•Peru•Central Bank of Peru
The Central Bank of Peru reported a USD 6.886 billion goods trade surplus for Q1 2025, representing 9.3% of GDP, up 2.1 percentage points from the previous year. The surplus was driven by higher prices and volumes of traditional exports, notably industrial and precious metals, and increased shipments of fishmeal and mining products. Non-traditional exports rose 21.6% in value, with significant growth in agriculture, metalworking, and textiles, while import prices fell due to lower oil and input costs.
Data & statisticsBalance of payments and other external statistics
-
2025-05-28•Congo•Congo Insurance Regulation and Control Authority
The Congo Insurance Regulation and Control Authority and China's National Financial Regulatory Administration signed a memorandum of understanding in Beijing to enhance cooperation in insurance regulation, supervision, and digitalisation.
Policy & regulationCooperationCross-border cooperation
-
2025-05-28•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) held a Digital Financial Literacy programme at Universitas Pendidikan Muhammadiyah Sorong, West Papua, to enhance understanding of digital financial services and risks. Part of OJK’s annual literacy programme, it addressed fraud risks highlighted by nearly 80,000 reports and IDR 1.7 trillion in losses. Discussions included blockchain, AI, and big data, featuring OJK officials and industry representatives.
Financial literacy & educationFinancial literacy and education
-
2025-05-28•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has launched an interactive tool on its website to visualize aggregated spot foreign exchange transactions between the public and authorized intermediaries. The dashboard provides detailed breakdowns by person type, institutional sector, economic activity, and trade regime, and allows rate comparisons for US dollar trades. Data is available from April 2024 and updated monthly, complementing existing reports.
Data & statisticsCurrency and cash management
-
2025-05-28•Georgia•National Bank of Georgia
The National Bank of Georgia will host an international conference in Tbilisi to mark the 30th anniversary of the lari, Georgia’s national currency. The event will feature central bank governors, international financial institutions, and private sector representatives, with panels on global financial systems and monetary policy. Additional anniversary activities include issuing commemorative coins and stamps, and educational initiatives.
OtherMonetary policy decisions and developments
-
2025-05-28•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia addressed the 27th Annual International Conference of the Microfinance Center, highlighting regulatory reforms that have strengthened Georgia's microfinance sector. She emphasized its role in fostering economic resilience and inclusive growth amid geopolitical, climate, and digital challenges. The conference, themed "Shifts, Shocks and Solutions: Microfinance in the Shadow of Geopolitics," gathers over 400 delegates from 40 countries.
Policy & regulationReform agendas & prioritiesFinancial inclusion
-
2025-05-28•China•Central Bank of the Republic of China
At the ASEAN-China-Gulf Cooperation Council summit, the Cross-Border Interbank Payment and Settlement Company (CIPS) and the Central Bank of the United Arab Emirates signed an MOU to enhance payment infrastructure and cross-border payment efficiency. The agreement includes joint R&D on interconnecting payment systems for local-currency services in the Middle East and North Africa, and exchanges on risk, compliance, and system security.
Policy & regulationCooperationCross-border cooperationCross-border payments
-
2025-05-28•Indonesia•Bank Indonesia
Bank of Indonesia and Banque de France announced a Memorandum of Understanding to enhance cooperation in central banking, effective 15 May 2025. The MoU focuses on monetary policy, macroprudential policy, financial stability, and payment systems, with workstreams on digital innovation, sustainable finance, and AML/CFT/CPF frameworks. Initiatives include policy dialogues, knowledge-sharing, joint research, and capacity-building programs.
Policy & regulationCooperationClimate risk and sustainable finance
-
2025-05-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) cancelled Spectre Financial Group Australia's financial services licence for failing to maintain organisational competence. The licence, suspended since May 2024, was revoked due to insufficient skilled managers. Spectre, inactive for three years, can seek a review by the Administrative Review Tribunal.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
-
2025-05-28•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) emphasized catastrophe preparedness as a key initiative for state insurance regulators, advancing the NAIC National Resilience Strategy. In response to Hurricane Helene and major wildfires, the NAIC plans to develop a Disaster Preparedness Guide and highlighted state-level consumer protection measures, resilience incentives, and proposed legislation to enhance disaster readiness and recovery.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
-
2025-05-28•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) plans to develop a Disaster Preparedness Guide to enhance state insurance regulators' catastrophe readiness and expedite consumer recovery. This initiative is part of NAIC's 2025 key projects, supporting the National Resilience Strategy. The guide will be a resource on climate adaptation, resilience, risk mitigation, and protection gaps, consolidating best practices and promoting cross-state collaboration.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
-
2025-05-28•Europe•European Banking Authority
The European Banking Authority (EBA) has released the final technical package for version 4.1 of its reporting framework, effective from the second half of 2025. This framework identifies significant crypto asset providers and centralizes prudential disclosures in the EBA Pillar 3 data hub. It includes validation rules, a data point model, and XBRL taxonomies, integrating various reporting standards and addressing feedback from the draft version.
Policy & regulationRules & requirementsRegulatory reporting
-
2025-05-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) seeks feedback on remaking a legislative instrument providing relief for financial services licensees distributing basic deposit and general insurance products. This relief, exempting licensees from appointing distributors as authorised representatives, expires on 1 October 2025. ASIC found it effective and proposes a five-year extension to reduce compliance burdens and costs while maintaining consumer protection under the Corporations Act 2001.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-05-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian Financial Services (AFS) licence of Spectre Financial Group Australia Pty Ltd due to insufficient organisational competence. The firm lacked responsible managers with the necessary knowledge and skills for financial product advice and dealing in derivatives and foreign exchange contracts. ASIC is concerned about potential client financial losses if services resume. Spectre may seek a review of this decision by the Administrative Review Tribunal.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
-
2025-05-28•Australia•Australian Securities & Investments Commission
ASIC Commissioner Simone Constant highlighted governance failures in superannuation trustee member services. With funds nearing AUD 4.2 trillion, service quality, especially in death benefit claims handling, has lagged. Complaints about delays have surged, prompting ASIC to escalate enforcement, including actions against AustralianSuper and Cbus. A March roadmap with 34 recommendations showed 78% of delays were due to controllable factors like staff errors. ASIC emphasized tracking claims handling times and analyzing complaint data per Regulatory Guide 271. The Chair will soon announce the next phase of the member services project as the Financial Accountability Regime expands to superannuation trustees.
Policy & regulationReform agendas & prioritiesCorporate governance
-
2025-05-28•Australia•Australian Securities & Investments Commission
ASIC has initiated civil penalty proceedings against Mr. Liang (Allan) Guo, former director of Blockchain Global Ltd, for alleged breaches of directors’ duties related to the ACX Exchange. The platform collapsed in December 2019, with over $20 million in unsecured creditor claims. Allegations involve mishandling customer funds and record-keeping. Mr. Guo left Australia in September 2024.
EnforcementInvestigations & enforcement actionsOperational risk and resilience
-
2025-05-28•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg CSSF issued two circulars updating ICT incident classification and reporting per the Digital Operational Resilience Act (DORA). Circular CSSF 25/893 outlines reporting procedures for major ICT incidents and cyber threats, extending DORA frameworks to payment service providers outside DORA's scope. Circular CSSF 25/892 implements guidelines on estimating costs and losses from ICT incidents, applicable to DORA entities excluding microenterprises.
Policy & regulationGuidance & interpretationCyber resilience
-
2025-05-28•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's Emerging Researcher Forum 2025 featured 20 young researchers from nine Ukrainian universities, focusing on monetary policy and financial stability. Three winners were recognized for work on climate change impacts, import transformation during the war, and regional employment trends, receiving publication recommendations and internship offers at the central bank.
ResearchOther
-
2025-05-28•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has initiated a consultation on a proposed prudential regime for firms issuing qualifying stablecoins and safeguarding qualifying cryptoassets. The regime introduces new Handbook sourcebooks, COREPRU and CRYPTOPRU, setting capital, liquidity, and risk management expectations, with a minimum capital requirement of GBP 350,000 for stablecoin issuance. The FCA plans further consultations on additional elements before finalizing rules and guidance.
Policy & regulationRules & requirementsStablecoins
-
2025-05-28•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released a list of insurers that have fully implemented its recommendations for premium payment notices. These notices must display both the upcoming and previous year's premium amounts, with clear explanations of any changes. An information note and the compliance list are available online.
SupervisionReviews, inspections & stress testsDisclosures
-
2025-05-28•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) initiated a public consultation on a draft regulatory standard to repeal Regulatory Standard No. 5/2021-R. This action is pursuant to Article 47 of ASF's statutes, approved by Decree-Law No. 1/2015.
Policy & regulationRules & requirementsRegulatory burden
-
2025-05-28•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong’s Financial Services and the Treasury Bureau announced Secretary Christopher Hui met with Manulife and Sun Life executives in Toronto to promote re-domiciling to Hong Kong under new legislation, emphasizing legal and tax benefits. The regime allows non-Hong Kong companies to re-domicile while retaining their legal identity, with tax credits to prevent double taxation. An international insurance group announced plans to re-domicile on the regime's first day, and Hui will meet Canadian financial officials in Ottawa on 28 May.
Policy & regulationRules & requirementsCross-border cooperation
-
2025-05-28•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
Jasmin Mahmuzić, director of the Banking Agency of the Federation of Bosnia and Herzegovina, attended a Vienna conference on financial stability amid geopolitical turbulence, organized by the World Bank’s FinSAC centre. Mahmuzić stressed the importance of cooperation with supervisors in parent banks' home jurisdictions for better oversight of cross-border banking groups. The panel also noted the positive impact of EU banking groups in Bosnia and Herzegovina, including skilled employment, tax revenues, and innovation.
SupervisionCooperationCross-border cooperation
-
2025-05-28•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru’s Superintendence of Banking, Insurance and AFP closed the premises of “Oficina de Seguros América” in Trujillo for unauthorized insurance marketing and intermediation. The entity was not registered in the official insurance intermediaries register, violating Law No. 26702. The SBS urged the public to use authorized insurers and report unauthorized activities.
SupervisionInterventionsUnlicensed or unauthorized activity
-
2025-05-28•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation has issued a webcast and updated Educational Module 11 to assist SMEs in implementing amendments to Section 11 Financial Instruments in the third edition of the IFRS for SMEs Accounting Standard.
Policy & regulationGuidance & interpretationAccounting and financial reporting
-
2025-05-28•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority's March 2025 Quarterly Superannuation Performance reported total superannuation assets at AUD 4.1 trillion, a 0.8% quarterly decrease but a 5.9% annual increase. APRA-regulated assets rose 7.4% year-on-year to AUD 2,890.8 billion. Contributions for entities with over six members surged 14.4% annually to AUD 202.8 billion, with employer contributions up 10.3% and member contributions up 26.9%. Benefit payments increased 11.6% to AUD 127.5 billion.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-05-28•Austria•Austria Financial Market Authority
The Austria Financial Market Authority (FMA) released a new edition of its "Let's talk about money" series, advising investors on securities account transfers. Key considerations include costs, timelines, tradeability issues during transfers, and tax implications, especially for foreign elements. The guidance is accessible in English on the FMA's website and distributed through Instagram and a podcast.
Policy & regulationGuidance & interpretationOther
-
2025-05-28•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) issued four decisions in administrative infraction proceedings, imposing fines for breaches of anti-money laundering and counter-terrorism financing (AML/CTF) obligations, prudential requirements, and market disclosure duties. Fines ranged from EUR 25,000 to EUR 60,000, with several fully or partially suspended. A Constitutional Court ruling also upheld previous decisions in a separate administrative infraction case.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
-
2025-05-28•Latin America•Financial Action Task Force of Latin America (GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT) warned about misuse of its name in fraudulent schemes involving fictitious service fees and false asset recovery services. GAFILAT clarified it has no investigative powers, does not intervene in individual cases, and cannot seize or confiscate funds. The alert highlighted scams using official-looking materials and advised the public to report suspected fraud to local authorities.
SupervisionAlertsFraud and scams
-
2025-05-28•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan’s Agency for Regulation and Development of the Financial Market approved senior appointments at JSC Altyn Bank, a subsidiary of China Citic Bank Corporation Limited. Murat Baysynov was appointed as Chair of the Management Board, while O Sonho and Yu Jin were cleared for roles on the bank's board of directors.
SupervisionAuthorisations & approvalsLeadership change and appointments
-
2025-05-28•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) has outlined its agenda for the June Executive Committee meeting and Strategic Retreat, focusing on the IAIS Strategic Plan 2025–2029 and governance improvements. Key initiatives include finalizing supervisory guidance on artificial intelligence in insurance, transitioning to risk-based solvency regimes, and reviewing systemic risk monitoring results. Upcoming milestones include a July consultation on operational resilience and publishing an Application Paper on artificial intelligence supervision.
Policy & regulationGuidance & interpretationSupervision process and methodologies
-
2025-05-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen linked to China Construction Bank (Asia) Corporation Limited. The HKMA reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
-
2025-05-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen reported by The Bank of East Asia, Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
-
2025-05-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen reported by Shanghai Commercial Bank Limited. The HKMA reminded the public that banks will not send communications with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
-
2025-05-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding a fraudulent website and internet banking login screen linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact Chong Hing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
-
2025-05-28•Global•Ceres
Ceres has urged Canadian Prime Minister Mark Carney to adopt policies for a cleaner, resilient economy, emphasizing investor expectations on climate transition. Backed by 19 investors managing USD 1.7 trillion, the letter calls for stronger carbon pricing, a national clean electricity strategy, and equitable clean energy project regulations. It also advocates for methane emission reductions, reassessment of fossil fuel subsidies, Indigenous equity participation, and a robust sustainability disclosure framework.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
-
2025-05-28•Ghana•Bank of Ghana
Bank of Ghana Governor Dr. Johnson Asiama, at the African Development Bank Annual Meetings, highlighted Ghana's macroeconomic stabilization, maintaining the policy rate at 28% to support disinflation. The Bank is shifting to Open Market Operations and tightening foreign exchange regulations, with fiscal consolidation and an IMF agreement aiding stabilization. Key indicators include a 21.5% appreciation of the cedi, a 4.0% GDP growth forecast for 2025, and gross international reserves rising to USD 10.67 billion.
Monetary policyPolicy rate decisionsEconomic data and developments
-
2025-05-28•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Anthony Markham Consulting Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 28 May 2025.
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
-
2025-05-28•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait announced the launch of a FinTech MBA internal scholarship programme for Kuwaiti nationals by the Kuwait Institute of Banking Studies, in collaboration with Kuwaiti banks and the Gulf University for Science and Technology, as part of its strategy to develop national talent for the financial sector. Applications are open from 28 May to 14 August 2025.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
-
2025-05-28•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan met with Asad Alam to discuss ongoing projects and cooperation priorities, including financial inclusion and transitioning to a cashless economy. Discussions highlighted reforms to enhance financial sector efficiency and access, with ongoing work in phase 2 of key development projects. The meeting also explored new partnership areas in insurance, climate change, and gender equality.
Policy & regulationCooperationCross-border cooperationMarket development
-
2025-05-28•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) outlined its 2025 priorities at Conseguro 2025, focusing on regulating Complementary Law 213/2025 and the new Insurance Contract Law to enhance market competition and legal certainty. Superintendent Alessandro Octaviani emphasized collaboration with stakeholders and creating a strategic core to address sector challenges. SUSEP officials also participated in panels discussing regulatory improvements, financial education, and recent legal developments.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
-
2025-05-28•Europe•European Central Bank
The European Central Bank's analysis suggests that average interest rates on euro area mortgages will continue to rise despite recent policy rate cuts, due to the gradual repricing of the mortgage stock following the 2022-23 tightening cycle. Around a quarter of mortgages are adjustable-rate, with fixed-rate mortgages resetting to higher rates over time, impacting private consumption until at least 2030. Survey data indicates that higher debt-service costs have already led 46% of mortgagors to reduce spending, with further cutbacks anticipated.
ResearchLending
-
2025-05-28•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported core inflation at 4.17% and services sector inflation at 4.68% for the first four months of 2025, based on consumer price index data. Monthly inflation movements were uniform, influenced by electricity price hikes and minimum wage increases. Core inflation showed less volatility than headline inflation, aligning closely with the March nowcast.
Data & statisticsEconomic data and developments