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2025-05-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission reported that Darryl Brian Mapleson pleaded guilty to insider trading in the Supreme Court of Western Australia. Mapleson, a director of Rosdarem Pty Ltd, acquired 6,792,850 Beacon Minerals Limited shares in January 2017 while possessing inside information. A sentence hearing is set for 6 August 2025. Former Beacon Minerals project manager Alexander McCulloch pleaded not guilty to insider trading, with a trial scheduled for November 2026.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-16•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg and Luxembourg's Commission for the Supervision of the Financial Sector published a thematic report on artificial intelligence in the financial sector, focusing on generative AI risks. The report, based on a survey of 461 institutions, examines digital strategies, AI investments, and trustworthiness controls, and classifies AI use cases against EU AI Act risk categories.
ResearchArtificial intelligence
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2025-05-16•Greece•Bank of Greece
The Bank of Greece announced a central government cash balance surplus of EUR 1,874 million from January to April 2025, contrasting with a EUR 570 million deficit in the same period of 2024. This shift is attributed to an increase in ordinary budget revenue to EUR 22,232 million and a rise in expenditure to EUR 19,796 million.
Data & statisticsFinancial and market indicators
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2025-05-16•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in the IOSCO 50th Annual Meeting in Doha, engaging in technical sessions and working groups with global securities regulators. The delegation, including key CMC officials, contributed to discussions in various IOSCO committees and panels, emphasizing financial inclusion.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•India•Reserve Bank of India
The Reserve Bank of India issued a circular to Category I Authorised Dealer banks regarding the USD 700 million line of credit from Export-Import Bank of India to finance a crude oil refinery in Mongolia. The circular outlines eligibility for financing exports of Indian goods and services under the agreement, subject to India's Foreign Trade Policy. Banks are instructed to inform exporters and direct them to Exim Bank for detailed terms.
Policy & regulationGuidance & interpretationCross-border cooperation
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2025-05-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of SME Crowdfunder Pty Ltd, effective 2 May 2025, as the firm ceased providing financial services since September 2023. The decision was made under subsection 915B(3)(a) of the Corporations Act. SME may seek a review of this decision by the Administrative Review Tribunal.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) seeks feedback on extending its relief for "incidental retail cover" in business insurance contracts for five years. This exempts insurers and brokers from certain retail client obligations under Chapter 7 of the Corporations Act 2001 when the cover is part of a wholesale business insurance product. ASIC finds the instrument effective in reducing regulatory burdens and preventing compliance costs from being passed to businesses. The relief is tightly targeted, not applying where retail cover is optional or requires a separate purchase decision.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-16•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced the immediate termination of J. Kalachand & Co Ltd's insurance agent licence following its surrender. This action was taken in accordance with section 111 of the Insurance Act 2005 and section 28(9) of the Financial Services Act 2007.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-16•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission issued a circular reminding licensees and authorized persons of the 2025/2026 licence fee renewal deadline on 1 July, as per the Financial Services (Consolidated Licensing and Fees) Rules. Payments can be made via the FSC One Platform from 2 June 2025, with alternative bank transfer options available. Insurance companies are advised to inform intermediaries, and user support is available on the platform.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-05-16•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted decisions affecting collective investment fund issuances, governance approvals, and securities restrictions. Key actions include share issue registrations for JSC ZNVCIF KHARTOUM and JSC ZNVCIF SENSESTONE, termination of LLC AMC RENAISSANCE ASSET MANAGEMENT’s licence, and bans on securities transactions involving PJSC UICE. Additionally, senior appointments were approved, and several bond registrations were cancelled.
SupervisionAuthorisations & approvalsSecurities offerings and listingsLicence withdrawal
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2025-05-16•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market emphasized the necessity of licensing for investment consulting and urged market participants to legalize their activities. It reported that one company has completed the licensing process and is now authorized to provide investment advisory services. The Commission highlighted that a licence enhances legal standing, client trust, and business expansion opportunities.
Policy & regulationGuidance & interpretationLicence approval
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2025-05-16•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released its "Sector in beeld Pensioenen 2025" report, highlighting key issues as the Dutch pension system transitions to contribution-based arrangements under the Wet toekomst pensioenen (Wtp). The AFM emphasizes the need for clear communication on risk-based partner pensions and urges administrators to address transition-related complaints effectively. Additionally, the AFM notes significant variability in scenario amounts and stresses the importance of contextualizing these figures to manage expectations.
SupervisionRisk monitoring & watch points
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2025-05-16•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS), in partnership with FSD Africa, has launched the 2025 BimaLab Africa Insurtech Accelerator, inviting applications from African insurtech start-ups. The six-month programme offers technical training, mentoring, and investor matchmaking, with a focus on climate resilience, financial inclusion, and gender equality. The 2025 cohort aims to include 35 start-ups from 25 African countries.
SupervisionInnovation & testingFintech and insurtech
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2025-05-16•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has issued a cybersecurity advisory to all companies, highlighting increased threat alerts due to recent geopolitical tensions. The advisory urges firms to adopt best practices, including stricter access controls, reducing network vulnerabilities, and enhancing security incident readiness to prevent operational disruptions and data loss.
Policy & regulationGuidance & interpretationCyber resilience
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2025-05-16•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has released business line specific checklists for Non-Banking Finance Companies (NBFCs) to streamline documentation and procedural requirements for licensing and compliance. These checklists aim to reduce ambiguity and processing time for sponsors, applicants, and existing license holders. They cover various services including Asset Management, Investment Finance, Leasing, and Microfinance.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-05-16•Georgia•National Bank of Georgia
The National Bank of Georgia announced that Governor Natia Turnava and Finance Minister Lasha Khutsishvili met with Matteo Patrone, European Bank for Reconstruction and Development Vice President, to discuss ongoing cooperation between Georgia's financial sector and the EBRD. Turnava highlighted the Georgian banking sector's dynamism and transparency, noting the EBRD's USD 566 million contribution and expectations for continued collaboration.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Georgia•National Bank of Georgia
The National Bank of Georgia (NBG) and the National Bank of Poland reviewed projects under a "twinning" programme to enhance NBG's supervision and payment oversight. This supports Georgia's legislative alignment with EU directives, aiding its application for Single European Payments Area membership. The Georgian delegation also participated in the European Association of Clearing Houses forum, discussing instant payments and AI in fraud detection.
Policy & regulationCooperationCapacity buildingCross-border cooperation
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2025-05-16•Georgia•National Bank of Georgia
The National Bank of Georgia convened with microfinance stakeholders to assess financial performance and discuss challenges, focusing on legislative initiatives to raise the microcredit limit and enhance regulatory requirements. Planned amendments will address corporate governance and operational risk management. The central bank anticipates ongoing engagements with the sector.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskSupervision process and methodologies
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2025-05-16•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia met with the European Commission’s Director for the Western Balkans to discuss preparations for the country's accession to the Single Euro Payments Area (SEPA) by October 2025. The central bank is collaborating with the banking sector to ensure readiness and will provide technical assistance and regulatory oversight. Discussions also covered macroeconomic indicators and EU-supported projects to align with European standards, aiming to enhance cooperation.
Policy & regulationCooperationCross-border payments
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2025-05-16•Italy•Bank of Italy
The Bank of Italy concluded the 2024–2025 "Let's invent a banknote" competition, promoting financial education through banknote design with Italy’s Ministry of Education and Merit. Deputy Director General Chiara Scotti awarded EUR 10,000 each to three winning schools, with additional prizes for other finalists and special categories. The competition attracted 622 schools, including international participants, focusing on the theme "Achieving your dreams, investing in yourself: the economy at the service of young people."
Financial literacy & educationFinancial literacy and education
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2025-05-16•Italy•Bank of Italy
The Bank of Italy released a paper introducing a method to estimate climate transition risk's impact on the one-year default probability for Italian non-financial firms. This approach integrates EU Emissions Trading System data with firms' financials to assess credit risk through emissions costs and revenues. The findings indicate improved accuracy in measuring transition-risk impacts on credit quality compared to existing methods, aligning with the 12-month credit assessment horizon.
ResearchClimate risk and sustainable finance
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2025-05-16•Italy•Bank of Italy
The Bank of Italy released a paper on assessing climate-related transition risk's impact on the one-year default probability for Italian non-financial firms, using EU Emissions Trading System data. The framework combines EU-ETS data with market and corporate financial information, simulating price scenarios to evaluate creditworthiness. This approach offers a more precise transition-risk assessment than NGFS scenarios, resulting in some rating upgrades and aligning with the standard 12-month credit risk assessment horizon.
ResearchClimate risk and sustainable finance
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2025-05-16•China•Central Bank of the Republic of China
People's Bank of China Vice Governor Zhu Hexin attended the European Bank for Reconstruction and Development's 2025 annual meeting in London, discussing the bank's strategic development plan. Zhu also met with EBRD President Odile Renaud-Basso to explore strengthening bilateral cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Bermuda•Ministry of Finance (Bermuda)
Bermuda’s Ministry of Finance highlighted Premier David Burt’s participation at Consensus 2025, emphasizing Bermuda's progress as a digital finance jurisdiction. The update noted the issuance of eight digital asset business licences in 2024, bringing the total to 53 licensed entities. Future priorities include enabling digital payments for government services, expanding digital ID frameworks, and supporting AI use in financial services.
Policy & regulationReform agendas & prioritiesFintech and insurtechBlockchain and distributed ledger technology
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2025-05-16•Europe•European Banking Authority
The European Banking Authority has repealed its Guidelines on "high risk exposures" due to the implementation of the new Capital Requirements Regulation (CRR 3), which eliminates this exposure class. The Guidelines, initially issued in 2019, are now obsolete as Article 128 of CRR 3 pertains solely to "subordinated debt exposures."
Policy & regulationGuidance & interpretationCredit risk
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2025-05-16•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier released a guide to assist financial entities in interpreting error and warning messages from European Supervisory Authorities during validation checks under the Digital Operational Resilience Act (DORA). The guide addresses market demand for detailed explanations and focuses on frequently failed validation checks, offering solutions for underlying issues.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-05-16•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier and the Central Bank of Luxembourg released their second thematic report on AI in the financial sector, emphasizing Generative AI's rise and related risks. Based on a survey of 461 financial institutions, the report examines AI use cases under the EU AI Act and highlights areas for further consideration. It also analyzes digital strategies, AI adoption support, and trustworthiness elements like bias management and human oversight.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-05-16•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC issued infringement notices totaling AUD 75,120 to Cointree Pty Ltd for failing to submit suspicious matter reports (SMRs) on time under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The action followed Cointree's voluntary disclosure of missed deadlines. AUSTRAC stressed timely SMR submission for effective intelligence sharing and noted increased money laundering risks in the digital currency exchange sector, as highlighted in its 2024 national risk assessment. Cointree paid the penalty, concluding the matter without admitting liability.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-16•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has updated its "Approaches" for superannuation topics, addressing delayed insurance claims, sections 29(6) and (7) of the Insurance Contracts Act, and superannuation death benefit complaints, with specific guidance for trustees on family violence issues. These updates reflect stakeholder feedback and clarify AFCA's assessment of complex complaint issues.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-05-16•New Zealand•Department of Internal Affairs
The Department of Internal Affairs, the Financial Markets Authority, and the Reserve Bank of New Zealand have updated the AML/CFT Audit Guideline for reporting entities. Key updates include a three-year audit cycle, guidance on auditor independence and qualifications, and supervisors' authority to request audit reports. The guideline also addresses record-keeping and restrictions on sharing suspicious activity report information.
Policy & regulationGuidance & interpretationAML and CFTAuditing
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2025-05-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency drafted a resolution to amend rules for voluntary pension contributions, focusing on automatic payouts from the Unified Accumulative Pension Fund for retirees who haven't withdrawn savings. This prevents unclaimed assets and ensures consistency in payments, aligning with legislative amendments on financial market development and consumer protection.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-05-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan authorized DEBEX LLP to operate an electronic trading platform for banking and microfinance assets. This permission was granted under the Deputy Chair’s Order No. 2 of 15 May 2024.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-16•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 reported by The Bank of East Asia, Limited. The HKMA reminded the public that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a two-year extension of Mr Howard Lee’s appointment as Deputy Chief Executive, effective October 2025. Mr Lee will continue overseeing reserves management, financial infrastructure, and fintech development, and remains an Executive Director of the Hong Kong Mortgage Corporation Limited.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and fake internet banking login screen linked to Shanghai Commercial Bank Limited. The HKMA reminded the public that banks will not send SMS or emails with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact Shanghai Commercial Bank Limited and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens associated with Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals affected by these fraudulent activities are advised to contact Chong Hing Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority warns that www.linacreinvestments.com may falsely claim to represent Linacre Investments Limited and offer unauthorized financial products. The genuine company, incorporated in the Isle of Man, is not associated with the site, and the services described require licensing, which it lacks. The Authority cautions the site could be used for fraud or identity theft and advises contacting local police.
SupervisionAlertsFraud and scams
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2025-05-16•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye approved HDI Sigorta Anonim Şirketi's licence application to operate in the Destek branch of the non-life insurance group, as per Board Decision No. 1072 dated 24 April 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-16•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) launched the 12th cohort of its free, online Insurance Diploma program. The 120-hour course covers risks, regulations, insurance types, and financial protection strategies, offering formal academic recognition upon completion.
Financial literacy & educationFinancial literacy and education
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2025-05-16•Global•GPFI
The G20 Global Partnership for Financial Inclusion (GPFI) has released a draft 2025 work plan under South Africa’s G20 Presidency, focusing on financial inclusion deliverables aligned with the G20 2023 Financial Inclusion Action Plan. Key initiatives include a diagnostic study on transitioning from access to usage of financial products, exploration of digital financial inclusion technologies, and an implementation framework for MSME financing. The plan outlines the 2025 GPFI calendar, including plenary and G20 Finance Track meetings leading up to the Leaders’ Summit in November 2025.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-05-16•Global•GPFI
The Global Partnership for Financial Inclusion released the co-chairs’ summary of its first plenary meeting under South Africa’s G20 Presidency, outlining a 2025 work plan with three key deliverables: a diagnostic study on financial product usage, an implementation framework for the G20 Action Plan on MSME Finance, and a report on innovative technologies for financial inclusion. The plan includes a quantitative framework to address usage gaps, a structured survey on MSME finance, and ongoing efforts on remittances and AML/CFT guidance updates.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-05-16•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan met with Numisma Bank to discuss cooperation on the secure transportation of USD and EUR. Numisma Bank highlighted its logistics capabilities, and both parties agreed to pursue further expert-level negotiations to explore mutually beneficial cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Europe•European Central Bank
The European Central Bank (ECB) released a letter from President Christine Lagarde to a Member of the European Parliament, highlighting increased public trust in the ECB and support for the euro, as shown by the European Commission’s Eurobarometer survey. Awareness and potential usage of the digital euro have risen significantly, prompting the ECB to enhance communication efforts and engage with stakeholders. The ECB is prepared to support legislative discussions on the proposed Digital Euro Regulation.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-05-16•Europe•European Central Bank
ECB Executive Board member Philip R. Lane emphasized the benefits of the ECB's multi-layered communication strategy over publishing a conditional future policy rate path. He highlighted risks of unwarranted expectations and stressed meeting-by-meeting decisions supported by risk assessments. Lane noted these were his personal views, linked to the ECB's ongoing monetary policy strategy assessment, with an update expected in late 2025.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-05-16•Europe•European Central Bank
The European Central Bank (ECB) announced decisions affecting the Eurosystem’s collateral framework, TARGET market infrastructure, and banking supervision. Key changes include reclassification of agency issuers' haircut categories and a revised credit facility framework for central counterparties (CCPs) in TARGET. Additionally, the ECB reported banking supervision enforcement actions, including EUR 1.24 million in penalties for SEB Baltics banks.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-05-16•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
During the 12th National Financial Education Week, the Brazilian Superintendence of Private Insurance (SUSEP) and Brazil's National Treasury Secretariat compared Tesouro RendA+ with VGBL and PGBL private pension products in a livestream. The session highlighted each instrument's features, advantages, and limitations for long-term financial planning. SUSEP also announced participation in an upcoming financial inclusion and education event with the Federal University of Rio de Janeiro.
Financial literacy & educationFinancial literacy and education
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2025-05-16•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) and the Institute of Economics at the Federal University of Rio de Janeiro hosted a seminar on financial inclusion and education, concluding SUSEP’s events for the 12th National Financial Education Week. The seminar, aimed at students and the public, featured discussions on financial inclusion limits, consumer risks, and household indebtedness in Brazil.
Financial literacy & educationFinancial literacy and education
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2025-05-16•Europe•European Central Bank
The European Central Bank's weekly balance sheet data revealed a decrease in total assets and liabilities to EUR 6,291,674 million, a reduction of EUR 9,570 million from the previous week. This decline was primarily due to reduced securities holdings and lower deposit facility balances. Key changes included a EUR 11,103 million drop in securities of euro area residents and a EUR 15,703 million decrease in the deposit facility.
Data & statisticsBalance of payments and other external statistics
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2025-05-16•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Monetary Board disqualified four entities from registering with the Bangko Sentral ng Pilipinas (BSP) or obtaining a BSP license for any BSP-authorized activity due to operating as money service businesses without prior registration. The disqualification applies to Hanie Money Changing Services, Jonathan Sanoy Money Changer, Czasha Money Changer, and Rajahs Money Changer under Section 901-N of the BSP’s Manual of Regulations for Non-Bank Financial Institutions. This action is part of BSP's efforts to curb unauthorized money service businesses.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-05-16•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals to pay a VND 1,000,000 fee for securities practising certificates, as per the Ministry of Finance's framework. Payments can be made via bank transfer to designated accounts or in person at the Commission. Failure to collect the certificate within one year of the fee-payment notice will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-16•Malawi•Reserve Bank of Malawi
The Reserve Bank of Malawi announced the lapse of Malawi's Extended Credit Facility program, emphasizing its commitment to prudent monetary and exchange rate policies without devaluation. A home-grown macroeconomic framework has been developed to guide the economy, focusing on fiscal discipline, monetary control, and strategic foreign exchange management. The RBM highlighted the World Bank's approval of a USD 350 million grant for the Mpatamanga Hydropower Project and urged against speculative behavior affecting price stability.
Monetary policyMonetary policy framework & strategyEconomic data and developments
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2025-05-16•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission charged Dato’ Sri Liew Yew Chung, former executive director and CEO of London Biscuits Berhad, with 13 offences for falsifying financial statements and records. Allegations include a false financial statement to Bursa Malaysia and false sales transactions totaling MYR 2,354,430. Liew, who claimed trial, faces up to 10 years’ imprisonment and fines up to MYR 3 million for the false statement charge, with bail set at MYR 300,000.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-05-16•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,126 explores investor-provided liquidity in the UK corporate bond market, highlighting its impact on trading costs and market functioning during stress periods. The study finds that investor liquidity can alleviate dealers' balance sheet constraints, with transaction costs rising by 38% during the March 2020 "Dash-for-Cash" when liquidity provision ceased. Flexible-mandate investors enhance market resilience, while constrained investors lead to higher trading costs.
ResearchTrading
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2025-05-16•Solomon Islands•Central Bank of the Solomon Islands
The Central Bank of the Solomon Islands launched the first market-based parametric micro-insurance product, offered by Trans Pacific Assurance Limited with support from the United Nations' Pacific Insurance and Climate Adaptation Programme, piloted through CBSI's regulatory sandbox. The initiative supports the National Financial Inclusion Strategy 3, aiming to reach 300,000 adults with financial services by 2025, with pilot rollout starting in Guadalcanal and Malaita.
SupervisionInnovation & testingClimate risk and sustainable finance
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2025-05-16•Tanzania•Tanzania Capital Market and Securities Authority
The Tanzania Capital Market and Securities Authority helped its Burundi counterpart obtain an internationally recognized professional certification.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Global•Institutional Investors Group for Climate Change
The Institutional Investors Group for Climate Change launched the Emerging Markets and Developing Economies Investor Taskforce to mobilize private investment in climate opportunities. Comprising leaders from 15 major financial organizations and UK government experts, it aims to develop solutions like capacity building and product innovation, focusing on Latin America, South and South East Asia, and Africa. The initiative will explore technical workstreams to address barriers to private capital flows, with no specific timetable or deliverables announced.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-16•Global•Islamic Financial Services Board
The Islamic Financial Services Board released its 13th Islamic Financial Services Industry Stability Report, noting a 14.9% increase in global IFSI assets to USD 3.88 trillion in 2024. The report highlights stable key indicators and growth across Islamic banking, sukuk, and insurance, but identifies structural constraints like underdeveloped market infrastructure and low trading volumes. It calls for coordinated action by regulators and industry stakeholders to address these challenges.
ResearchFinancial stability and systemic risk
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2025-05-16•Poland•Central Bank of Poland
The Central Bank of Poland reported April 2025 core inflation indices: Consumer Price Index inflation at 4.3% year on year, core inflation excluding food and energy at 3.4% (down from 3.6% in March), inflation excluding administered prices at 2.7% (down from 3.4%), inflation excluding the most volatile prices at 4.6% (down from 5.0%), and the 15% trimmed mean at 3.9% (down from 4.6%). The NBP emphasized monthly calculations to identify inflation sources and assess price pressure persistence, highlighting the core measure excluding food and energy for its relevance in inflation targeting.
Data & statisticsMonetary data
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2025-05-16•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the Information and Privacy Commissioner agreed to enhance cooperation on personal data protection and public education regarding safe digital access. Their joint agenda includes initiatives to support compliance with legislation and educate the public on secure financial transactions. The collaboration aims to strengthen security practices and privacy standards in the financial sector.
Policy & regulationCooperationData protection
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2025-05-16•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges bondholders of seven bond series by Grande Asset Hotels and Property Public Company Limited to review information and exercise their rights at an e-meeting on 21 May 2025. The meeting will vote on extending redemption maturities by eight months, increasing interest rates by 0.30% annually, and adding a cash flow allocation obligation for pro rata repayment. The SEC requires the bondholders’ representative to analyze the proposals' benefits, shortcomings, and impacts.
SupervisionOtherSecurities offerings and listings
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2025-05-16•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's April bulletin outlined revised documentation requirements for transactions via the Pan-African Payment and Settlement System (PAPSS) and emphasized compliance for bureau de change operators and banks. It detailed recapitalisation thresholds for banks and reported a 2024 balance of payments surplus of USD 6.83 billion and net foreign exchange reserves of USD 23.11 billion. The bulletin also highlighted exercises to test compliance with Anti-Money Laundering and related obligations.
Policy & regulationRules & requirementsEconomic data and developments
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2025-05-16•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Canada Revenue Agency announced the sentencing of Aeddy Leung, a Surrey bookkeeper, for GST/HST evasion, with the Financial Transactions and Reports Analysis Centre of Canada aiding the investigation. Leung received a conditional sentence and probation after pleading guilty to evading CAD 987,863 in taxes by filing false returns for two hotels from 2014 to 2018.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-16•Namibia•Bank of Namibia
The Bank of Namibia successfully migrated the Namibia Interbank Settlement System (NISS) to the ISO 20022 global payment messaging standard on 12 May 2025. NISS, the country's real-time gross settlement system, processed over 97,074 transactions valued at more than NAD 1.2 trillion between April 2024 and April 2025. The central bank emphasized NISS's systemic role and alignment with international standards.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-05-16•Russia•Central Bank of Russia
The Central Bank of Russia's review on information security incidents for January to March 2025 reveals banks thwarted 43.8 million fraud attempts, safeguarding RUB 4.6 trillion. Despite these efforts, 296,600 fraudulent transactions totaling RUB 6.9 billion occurred, primarily via remote banking channels. Additionally, the bank blocked 19,800 phone numbers and 7,100 fraudulent websites and social media pages.
SupervisionRisk monitoring & watch pointsFraud and scams
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2025-05-16•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) announced the retirement of Arthur J. Murton, Deputy to the Chairman for Financial Stability and Director of the Division of Complex Institutions Supervision and Resolution, effective May 31, 2025. Murton, who has been with the FDIC for 39 years, played a key role in advising on policy issues, overseeing systemically important financial institutions, and responding to banking crises.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-16•Vietnam•State Bank of Vietnam
The State Bank of Vietnam stresses a national "digital literacy" movement to aid the transition to a digital economy by equipping citizens and businesses with essential skills. Challenges include skills gaps and low online public service usage. Proposed measures involve integrating digital skills into education and expanding internet access. Policy targets include 80% non-cash transactions and a digital economy comprising 30% of GDP by 2030.
Financial literacy & educationFinancial literacy and education
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2025-05-16•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and Visa Asia Pacific discussed enhancing cooperation to advance financial inclusion and cashless payments. The meeting covered collaboration on payments system development, anti-money laundering, and the use of artificial intelligence. Visa expressed interest in continuing to work with the central bank to support innovation and payment security in Vietnam.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Moldova•National Commission for Financial Markets
The National Commission for Financial Markets has initiated public consultations on revising maximum fees for securities registrar firms and setting annual contributions for the Investor Compensation Fund for 2024. The Board also adopted capital markets authorisation decisions, including share issuance and company conversions, and launched supervisory actions on insurance conduct and shareholder control. A thematic inspection was opened into compliance with consumer protection and insurance laws, and a pre-litigation challenge by BC "VICTORIABANK" SA was rejected.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-16•Tanzania•Tanzania Capital Market and Securities Authority
The Tanzania Capital Markets and Securities Authority said it facilitated a six-week, Chartered Institute for Securities and Investment recognized certification program in Dar es Salaam for Burundi regulator staff and market practitioners. Twenty-nine participants from Burundi were among 93 candidates certified, gaining eligibility to offer securities market services across East Africa and internationally. The initiative forms part of East African regulatory cooperation on capacity building and market development.
Policy & regulationImplementation, projects & pilotsCapacity buildingDomestic cooperation
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2025-05-16•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester M. Peirce urged SEC policy to focus on economic fundamentals and its impact on competition and innovation in equity markets. She suggested reforms, including changes to the Order Protection Rule and exchange liability limitations. Peirce also proposed a roundtable on options market structure and advocated for more economic research to guide regulatory decisions.
Policy & regulationReform agendas & prioritiesMarket development
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2025-05-16•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission will host a roundtable to review its executive compensation disclosure requirements, assessing their complexity and usefulness to investors. The event will discuss potential streamlining of disclosures, experiences with the 2006 framework, Dodd-Frank requirements, and issues with newer rules on pay-versus-performance and clawbacks. Public input is invited for inclusion in the public record under File Number 4-855.
Policy & regulationGuidance & interpretationCorporate governance
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2025-05-16•United States•U.S. Securities & Exchange Commission
SEC Chairman Paul S. Atkins stressed the need for high-quality economic analysis in rulemaking at the 12th Annual Conference on Financial Market Regulation. He cautioned against expanding regulation without thorough analysis, citing risks of unnecessary burdens and unintended consequences. Atkins urged transparency in showing the benefits, costs, and potential negative effects of proposed rules to balance investor protection with capital formation and market efficiency.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-05-16•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) will hold a roundtable on June 26, 2025, to discuss executive compensation disclosure requirements. SEC Chairman Paul S. Atkins issued a statement with questions for SEC staff and invited public input. The event will be open to the public, streamed live, and recorded for later viewing.
Policy & regulationGuidance & interpretationDisclosures
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2025-05-16•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has amended the Administrative Measures for Major Asset Restructurings of Listed Companies to reform the M&A and restructuring regime. Key changes include phased payment for share consideration, a simplified review process with shorter decision timelines, and revised lock-up rules. The amendments aim to stimulate M&A activity, with over 600 restructurings disclosed in 2025 and a transaction value exceeding CNY 200 billion.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-05-16•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued a notice to standardize administrative inspections, limit excessive activity, and reduce compliance burdens on financial institutions. It mandates no more than two on-site inspections per institution annually, with exceptions for specific cases, and emphasizes a risk-based, differentiated approach for inspection targeting. The regulator aims to balance reduced burdens with enhanced risk prevention and supervision.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-16•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission's Q1 2025 report shows a 6.7% year-on-year increase in banking financial institutions' total assets to CNY 458.3 trillion, with large commercial banks holding 43.3%. Inclusive finance lending grew, especially in loans to small and micro enterprises, while commercial banks maintained a non-performing loan ratio of 1.51%. Solvency and liquidity ratios remained robust, with banks reporting a liquidity coverage ratio of 146.20% and insurers a solvency adequacy ratio of 204.5%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-16•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced its president, Roberto E. Silva, attended the 50th Annual Meeting of the International Organization of Securities Commissions (IOSCO) in Doha. Silva participated in sessions, including the IOSCO Board and Growth and Emerging Markets Committee meetings, focusing on adopting ISSB Sustainability Disclosure Standards. The next Inter-American Regional Committee meeting will be in Buenos Aires in the latter half of 2025.
Policy & regulationCooperationCross-border cooperation
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2025-05-16•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) announced Switzerland's alignment with the EU's 16th sanctions package against Russia, effective 15 May 2025. Financial intermediaries must freeze assets and report to the State Secretariat for Economic Affairs (SECO). Measures include tightened export restrictions on dual-use goods, a ban on chrome ores, and expanded prohibitions on chemicals and Russian aluminium. Additionally, 48 individuals, 35 companies, and 74 ships were added to the sanctions list, with financial intermediaries required to conduct further clarifications under the Anti-Money Laundering Act.
Policy & regulationRules & requirementsSanctions list update
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2025-05-16•Moldova•National Bank of Moldova
The National Bank of Moldova and the International Finance Corporation held an online workshop to implement electronic know-your-customer (eKYC) in Moldova, aligning with Regulation No. 281/2024. Attended by 140 financial institution representatives, it covered regulatory expectations, challenges, and international standards for eKYC solutions. The National Bank of Moldova emphasized its commitment to providing guidance for compliant implementation.
Policy & regulationGuidance & interpretationKYC
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2025-05-16•Moldova•National Bank of Moldova
The National Bank of Moldova released an explanatory video on the free movement of capital, a key aspect of Moldova's EU accession talks. The video outlines potential benefits such as improved cross-border transfers and wider access to EU financial services. Governor Anca Dragu emphasized the bank's efforts to harmonize legislation and modernize financial infrastructure in alignment with EU single market requirements.
Financial literacy & educationCross-border payments
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2025-05-16•Moldova•National Bank of Moldova
The National Bank of Moldova attended a workshop on anti-money laundering and counter-terrorist financing, emphasizing compliance. Organized by Crowe Moldova and AmCham Moldova, the event covered recent legislative changes, compliance challenges, and operational resilience's role in preventing illicit activities. The central bank reaffirmed its commitment to engaging with the business community to meet regulatory expectations.
Policy & regulationCooperationAML and CFT
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2025-05-16•South Korea•Bank of Korea
The Bank of Korea reported preliminary April 2025 data showing declines in both export and import price indexes in KRW terms month-on-month. The Export Price Index decreased by 1.2% from the previous month but increased by 0.7% year-on-year, while the Import Price Index fell by 1.9% month-on-month and 2.3% year-on-year. The Net Barter Terms of Trade Index improved by 1.2% year-on-year.
Data & statisticsEconomic data and developments
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2025-05-16•India•Securities & Exchange Board of India
The Securities and Exchange Board of India issued a reminder for investors to submit claims to the National Stock Exchange (NSE) regarding Karvy Stock Broking Limited, declared a defaulter on 23 November 2020. Claims are invited under NSE bye-laws, rules, and regulations.
SupervisionAlertsConsumer and investor protection
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2025-05-16•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan's monthly report details RMB business by 65 domestic banking units (DBUs) and 56 offshore banking units (OBUs) as of April 30, 2025. Total RMB deposits reached RMB 112.73 billion, with RMB 83.00 billion in DBUs and RMB 29.73 billion in OBUs. RMB remittances in March 2025 totaled RMB 184.59 billion, and the Taipei Branch of the Bank of China processed RMB settlements of RMB 517 billion in April 2025.
Data & statisticsFinancial and market indicators
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2025-05-16•Barbados•Central Bank of Barbados
The Central Bank of Barbados issued a warning about a fraudulent website, centralbankorg.com, falsely claiming affiliation with the Bank. The site attempts to scam users by requesting personal banking information for "re-verification." The Bank emphasized it does not request such information and advised the public to report incidents to their bank and the Barbados Police Service’s Cyber Crime Unit.
SupervisionAlertsFraud and scams
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2025-05-15•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority has authorized Mahlan Financial Consultancy Company to conduct Advising Activity in the Securities Business, following the completion of business commencement requirements. The license was granted under a CMA resolution dated 12 June 2024, in accordance with the Capital Market Law and its Implementing Regulations.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-15•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority received the sixth interim report in the Danske Bank debt collection case, focusing on compensation payments in closed estates. Some issues in the report are deemed civil law matters beyond the authority's remit but are included for transparency and to reflect the case's complexity.
SupervisionReviews, inspections & stress testsOther
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2025-05-15•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority released the fifth episode of its “Pulse of the Capital Market” podcast featuring Finance Minister Novica Vuković. The discussion highlights regulatory improvements, the role of capital markets in transitioning to a green economy, and the potential introduction of green and retail bonds. It also addresses financial literacy initiatives and the implications of a credit rating upgrade for investments.
Financial literacy & educationOther
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2025-05-15•Greece•Bank of Greece
The Bank of Greece's May 2025 Financial Stability Review highlights exogenous risks to Greece's financial stability from geopolitical tensions and trade protectionism, with indirect economic impacts. Greek banks improved in 2024, with increased profitability, stronger capital ratios, and reduced non-performing loans. The Review discusses adjustments to the EU macroprudential policy toolkit and prudent credit standards in residential real estate lending, cautioning on potential impacts from slower euro area activity and global financial asset repricing.
ResearchFinancial stability and systemic riskPrudential risksCapital adequacyAsset quality
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2025-05-15•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of Kosovo's Central Bank met with Single Resolution Board officials in Brussels to align Kosovo’s regulatory framework with EU standards. Discussions covered financial stability, bank resolution, consumer protection, Kosovo’s SEPA membership pre-application, and real-time payments system development with Banca d’Italia. The SRB expressed readiness to support Kosovo's resolution framework development.
Policy & regulationCooperationRecovery and resolutionDomestic cooperation
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2025-05-15•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority announced that Deputy Director Rikke-Louise Ørum Petersen has been nominated to join the top management of the EU’s new Anti-Money Laundering Authority (AMLA). If appointed, she will step down from Finanstilsynet’s executive management. AMLA, headquartered in Frankfurt, will supervise high-risk financial firms and coordinate national anti-money laundering efforts across the EU.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-15•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) renewed its warning about fraudulent online trading platforms promising quick profits, often using tactics like celebrity-linked ads and fake profiles. The FSMA flagged platforms such as Jexoro and Trilox AI, advising against engaging with others, including clone sites impersonating legitimate firms. Victims are urged to cease transactions, contact their bank, report to authorities, and use FSMA's verification tool to avoid scams.
SupervisionAlertsFraud and scams
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2025-05-15•Australia•Australian Securities & Investments Commission
ASIC is consulting on consolidating three financial advice-related legislative instruments into one, extending it five years beyond their sunset on 1 October 2025. The effective instruments will largely remain unchanged except for minor adjustments. The package addresses relief and modifications for general advice in advertising, general advice warnings, and Financial Services Guides, including exemptions from Australian financial services licensing and specific disclosure requirements.
Policy & regulationRules & requirementsOther
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2025-05-15•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market and Taras Shevchenko National University of Kyiv signed a memorandum to enhance education, science, and financial literacy. The cooperation includes joint projects, analytical material development, and internships, aiming to expand practical opportunities for students and academic staff.
Financial literacy & educationFinancial literacy and education
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2025-05-15•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank President Klaas Knot emphasized diversity and inclusion in central banks at the International Diversity and Inclusion Conference. DNB aims for full gender balance by 2028, with women currently comprising 43% of management, and seeks 26% representation of employees with a migrant background. Initiatives include a Diversity Board, a Diversity Dashboard, and an Out & Proud Statement supporting LGBTIQ+ inclusion.
Institutional developmentGovernanceDiversity and inclusion
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2025-05-15•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
The Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL) has initiated its sixth-round mutual evaluation of Czechia, beginning with a high-level exchange involving key Czech financial and regulatory figures. This was followed by a training session in Prague to acquaint over 195 stakeholders with Financial Action Task Force standards and MONEYVAL’s evaluation methodology.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2025-05-15•West Africa•Central Bank of West African States
The UMOA Banking Commission of the Central Bank of West African States has imposed disciplinary measures and fines on four banks in Burkina Faso, Côte d’Ivoire, and Niger, and an electronic money institution in Senegal for breaches of legal and regulatory requirements. Penalties, ranging from XOF 38 million to XOF 300 million, address governance, risk management, and AML/CFT deficiencies. These actions follow inspections revealing weaknesses in compliance with prudential standards.
EnforcementInvestigations & enforcement actionsCorporate governanceAML and CFT
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2025-05-15•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia and Finance Minister Lasha Khutsishvili are attending the European Bank for Reconstruction and Development annual meetings to discuss Georgia's macroeconomic environment and investment climate. Turnava emphasized Georgia's economic resilience and the central bank's success in maintaining price stability and sustainable growth despite global challenges.
Monetary policyMonetary policy assessments & outlooksCross-border cooperation
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2025-05-15•Georgia•National Bank of Georgia
The National Bank of Georgia released an interactive press release detailing money transfer statistics for April 2025. The data is accessible in the statistics section of its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-15•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority said its chairman participated in IOSCO’s annual meetings in Doha from May 12 to 15, 2025. Discussions covered sustainability disclosure, retail investor protection, crypto-asset regulation and private financing risks, and included bilateral talks with other regulators on cooperation and expertise exchange.
Policy & regulationCooperationCross-border cooperationClimate risk and sustainable finance