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2025-05-12•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a public judgment session on 13 May on alleged audit irregularities by Pricewaterhousecoopers Auditores Independentes Ltda. and Marcos Paulo Putini in FII Torre Almirante's financial statements. The session will be at CVM’s headquarters in Rio de Janeiro, with videoconference access. If the accused or their representatives do not participate, the judgment will proceed via electronic voting.
EnforcementInvestigations & enforcement actionsAuditing
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2025-05-12•Serbia•National Bank of Serbia
The National Bank of Serbia reported a decrease in gross foreign exchange reserves to EUR 27,705.4 million at the end of April 2025, down EUR 822.0 million from March. The decline was primarily due to state net deleveraging and foreign-currency liability payments. Interbank foreign exchange turnover reached EUR 738.8 million in April, with the dinar remaining stable against the euro.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2025-05-12•Oman•Oman Financial Services Authority
The Oman Financial Services Authority has launched a campaign on green and sustainable funding instruments, focusing on green bonds and sustainable Sukuk. This initiative promotes investment in eco-friendly projects to support Oman’s 2050 net-zero goal. It covers regulatory requirements and introduces initiatives like Waqf Sukuk for social projects, using social media and visual content for outreach.
Financial literacy & educationClimate risk and sustainable finance
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2025-05-12•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia held a consultation workshop on the draft Securities Sector Development Master Plan 2025-2035 to gather stakeholder input for enhancing the plan's effectiveness. The event was presided over by SERC Director General Sou Socheat and Asian Development Bank Officer Anthony Gill, with approval from Deputy Prime Minister Aun Pornmoniroth.
Policy & regulationReform agendas & prioritiesMarket development
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2025-05-12•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice specifying ships under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, effective in Guernsey via local regulations. Businesses must screen for links to these vessels, report findings to the States of Guernsey Policy & Resources Committee, and submit a Handbook Rule 12.37 report to the Commission if an affected relationship is identified.
Policy & regulationGuidance & interpretationSanctions list update
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2025-05-12•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission (GFSC) issued a Russia sanctions notice designating 10 individuals and entities under the UK Russia (Sanctions) (EU Exit) Regulations 2019, effective in Guernsey. Firms are reminded to identify relevant relationships, freeze assets, and report findings to the Policy & Resources Committee and GFSC. Designated entities include Soglasie Insurance Company Limited and Nord Axis Ltd, among others.
Policy & regulationGuidance & interpretationNew sanctions designations
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2025-05-12•Switzerland•Swiss National Bank
The Swiss National Bank has renewed its Statement of Commitment to the FX Global Code, affirming that its internal processes align with the Code's principles. The Bank expects its regular counterparties to adhere to the agreed rules of conduct. The FX Global Code, first published in 2017 and revised in 2021 and 2024, outlines good practices in the wholesale foreign exchange market.
Policy & regulationInternational standards & recommendationsForeign exchange policy and markets
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2025-05-12•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario will issue a questionnaire to select Ontario individual life and health insurers to assess managing general agent distribution channels and insurer-MGA relationships. This initiative aims to identify market conduct and consumer risks and inform future supervisory priorities. The questionnaire follows recent FSRA reviews highlighting potential risks in these areas.
SupervisionRisk monitoring & watch pointsSupervision process and methodologies
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2025-05-12•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority approved the prospectus for selling 5,914,445 Renault shares to Moroccan employees at EUR 31.34 per share. The offer targets employees of Renault Tanger Exploitation, Renault Commerce Maroc, SOMACA, RCI Finance Maroc, and Renault Maroc Services. The prospectus and key documents are available at BMCI’s head office, Renault subsidiaries in Morocco, Renault’s website, and the Moroccan Capital Market Authority’s website.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-12•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria warns against fraudulent schemes falsely claiming CBN endorsement for contracts, loans, and grants. It has not authorized any agents to offer such benefits and does not engage in unsolicited communications or request fees for financial interventions. The public is urged to report such incidents to law enforcement or CBN branches as the Bank collaborates with security agencies to combat these scams.
SupervisionAlertsFraud and scams
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2025-05-12•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority met insurance and reinsurance industry leaders to review market developments, challenges and regulatory initiatives. Discussions focused on sector growth and stability, market efficiency and transparency.
Policy & regulationCooperationMarket development
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2025-05-12•Namibia•Bank of Namibia
The Bank of Namibia has introduced a modified Namibia Dollar 50 banknote featuring the signature of Governor Johannes Gawaxab, enhancing currency security and public confidence. This update completes a series of banknote upgrades aligned with the normal replenishment cycle. The central bank reported a 6.9% increase in currency circulation in 2024 and a 10.7% decline in counterfeit incidents.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-05-12•Hungary•National Bank of Hungary
The National Bank of Hungary's Commercial Real Estate Market Report indicates that prime yield increases ceased in 2024 Q2, with subdued GDP growth failing to boost market activity. The report notes a 28% decline in Hungarian CRE investment turnover to EUR 400 million in 2024, with domestic investors comprising 73% of flows, while the CEE region saw a 69% increase. Despite increased CRE-backed project lending, banks tightened terms for office buildings and logistics centres in late 2024, with no further tightening expected in early 2025.
Research
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2025-05-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has extended the deadline for submitting periodic financial statements for entities under its supervision, including those listed on the Egyptian Exchange, by 15 days to 30 May 2025. This extension applies to statements for the financial period ending 31 March 2025. The decision will be published in the Official Gazette and on relevant websites.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-12•Egypt•Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority chair Mohamed Farid is attending the IOSCO annual meeting in Doha, focusing on capital markets, sustainable finance, fintech, and retail investor protection. Farid will participate in IOSCO meetings and chair the GEMC Network on international sustainability standards. The agenda includes discussions on the enhanced IOSCO Multilateral Memorandum of Understanding and an IOSCO-OECD roundtable on retail investor empowerment.
Policy & regulationCooperationOther
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2025-05-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's chair, Mohamed Farid, led the GEMC meeting at IOSCO's 50th annual event, focusing on regulatory frameworks for resilience in emerging markets. Discussions included strengthening fixed income and government securities markets, capacity building, and monitoring standards implementation. Farid also announced the next GEMC meeting in Malta in November 2025.
Policy & regulationCooperationMarket developmentFinancial inclusion
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2025-05-12•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency have updated host state loan-to-deposit ratios, replacing those from May 2024. These ratios assess compliance with restrictions on banks establishing or acquiring out-of-state branches primarily for deposit gathering. Accompanying information details the application of these ratios for compliance assessments.
Policy & regulationRules & requirementsLiquidity risk
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2025-05-12•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) released its annual report on ICT risks and vulnerabilities in the financial sector, summarizing supervisory findings from 2024 and 2025. Additionally, it published a report on fraud and related losses in the second half of 2024.
SupervisionRisk monitoring & watch pointsCyber resilienceOperational risk and resilience
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2025-05-12•Vietnam•State Bank of Vietnam
The State Bank of Vietnam published an article by Communist Party General Secretary Tô Lâm on economic development, emphasizing private sector growth and institutional reforms. Key proposals include legal changes to support private sector development, a fair competition framework, and financial mechanisms for small businesses. Next steps include a National Assembly resolution and a national steering committee for implementation.
Policy & regulationReform agendas & prioritiesOther
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2025-05-12•United States•Federal Reserve Board
The Federal Reserve Board, in collaboration with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, released updated host state loan-to-deposit ratios. These ratios assess banks' compliance with restrictions on establishing or acquiring out-of-state branches primarily for deposit gathering. The updates replace the May 2024 ratios and include details on their application in compliance evaluations.
Policy & regulationRules & requirementsLiquidity risk
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2025-05-12•Egypt•Central Bank of Egypt
The Central Bank of Egypt reported a 72.4% increase in remittances from Egyptians working abroad, reaching USD 32.6 billion from March 2024 to February 2025, following economic reforms. February 2025 remittances more than doubled to USD 3.0 billion, marking the highest February inflows on record.
Data & statisticsCross-border payments
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2025-05-12•United States•U.S. Securities & Exchange Commission
SEC Chairman Paul S. Atkins proposed a regulatory framework for on-chain securities and crypto markets, moving from ad hoc enforcement to rulemaking. He emphasized clearer guidelines for crypto asset distributions, custody, and trading, advocating for registration exemptions, safe harbors, and modernized trading systems. The SEC's Crypto Task Force will coordinate this agenda, with engagement from the Administration and Congress.
Policy & regulationReform agendas & prioritiesTokenizationBlockchain and distributed ledger technology
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2025-05-12•United States•U.S. Securities & Exchange Commission
At the SEC's Crypto Task Force roundtable, Commissioner Caroline A. Crenshaw questioned rebuilding securities-market infrastructure for blockchain, citing definitional uncertainty and systemic risks. She highlighted scalability issues with public blockchains and questioned regulatory adjustments for private blockchains. Crenshaw emphasized the importance of the current T+1 settlement cycle for reducing trade obligations and compliance checks, cautioning against changes impacting traditional markets.
Policy & regulationGuidance & interpretationTokenization
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2025-05-12•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester M. Peirce stressed the need for legal clarity to realize the potential of tokenizing traditional financial assets on crypto networks. She highlighted uncertainties about crypto networks as master securityholder files, custody issues, and proposed amendments affecting tokenized securities. Peirce advocated treating tokenized securities like traditional ones and addressed follow-on work related to DeFi integration and regulatory requirements.
Policy & regulationGuidance & interpretationTokenization
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2025-05-12•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency have updated host state loan-to-deposit ratios, replacing those from May 2024. These ratios assess compliance with laws preventing banks from establishing or acquiring out-of-state branches primarily to gather deposits without meeting local credit needs.
Policy & regulationRules & requirementsComplianceConsumer and investor protection
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2025-05-12•Maldives•Maldives Monetary Authority
The Maldives Monetary Authority's Q1 2025 Quarterly Business Survey shows sectoral divergences: wholesale and retail trade strengthened, construction declined, and tourism and transportation growth slowed. Employment rose in tourism and trade but fell in construction. Financial conditions improved in tourism and trade but worsened in transportation, with credit access challenges across sectors.
Data & statisticsEconomic data and developments
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2025-05-12•China•China Banking and Insurance Regulatory Commission
China Banking and Insurance Regulatory Commission deputy head Xiao Yuanqi attended a seminar in Macau hosted by the Insurance Regulators Association of Portuguese-speaking countries and regions. He delivered a keynote on the global insurance industry outlook and key regulatory focus areas.
Policy & regulationCooperationOther
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2025-05-12•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority has inaugurated the 50th Annual Meeting of the International Organization of Securities Commissions in Doha, focusing on regulatory and market priorities. Key topics include digitalisation, cybersecurity, market sustainability, fintech, artificial intelligence, and investor protection. The event features closed-door meetings with IOSCO committees and representatives from over 130 member jurisdictions.
Policy & regulationCooperationCross-border cooperationMarket development
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2025-05-12•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority is hosting the 50th Annual Meeting of the International Organization of Securities Commissions in Doha, focusing on digitalization, cybersecurity, and market sustainability. The event features closed-door meetings and discussions on market efficiency, investor protection, and fintech developments, with participation from senior IOSCO leadership and representatives from over 130 member states.
Policy & regulationCooperationCross-border cooperationMarket development
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2025-05-12•Macao•Monetary Authority of Macao
The Monetary Authority of Macao and Portugal’s Insurance and Pension Funds Supervisory Authority have launched a training programme for the Association of Lusophone Insurance Supervisors, focusing on insurance sector development amid digital transformation. It includes seminars on fintech, data governance, and cybersecurity, with senior officials and industry specialists participating. AMCM highlighted Macao's bond market linkage with Hong Kong and the study of a risk-based capital framework to enhance local insurance standards.
SupervisionCooperationSupervision process and methodologies
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2025-05-12•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority hosted the 50th Annual Meeting of the International Organization of Securities Commissions (IOSCO) in Doha, focusing on regulatory best practices in digitalisation, cybersecurity, and market sustainability. The event featured high-level participation from IOSCO leaders and representatives from over 130 member jurisdictions, with discussions on market efficiency, investor protection, and fintech developments.
Policy & regulationCooperationCross-border cooperationMarket development
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2025-05-12•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance revised data submission requirements for lawsuits and mediations under section 39.6.4 of the General Regulation of Insurance Activity, enhancing the INFOGEYE system. Key changes include eliminating the Trámites a Distancia platform requirement, expanding reportable cases, and introducing flexible submission windows with immediate processing feedback.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-12•Dominica•Dominica Financial Services Unit
The Dominica Financial Services Unit issued a cease-and-desist directive to offshore banks under the Offshore Banking Act No. 8 of 1996, prohibiting them from using terms like "Crypto Bank" in marketing materials. The directive aims to prevent misleading public perceptions about the banks' regulatory status and service scope. Non-compliance may result in penalties, including licence suspension or revocation.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-05-12•Europe•Single Resolution Board
The Single Resolution Board (SRB) released its bi-annual report to the Eurogroup, detailing progress in banks' ex-ante capacity building, operational capabilities, crisis management toolkit development, and international cooperation. The note emphasizes preparedness to manage bank crises, prevent bail-outs, and maintain financial stability, while underscoring ongoing coordination with the Single Supervisory Mechanism and other authorities.
Policy & regulationImplementation, projects & pilotsSupervisory data
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2025-05-12•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has sanctioned five insurance brokers for non-compliance with anti-money laundering and counter-terrorism financing regulations under Article 14 of Decree Federal Law No. 20 of 2018. Two brokers were fined, while three received official warnings.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-05-11•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic's governor, Héctor Valdez Albizu, informed Morgan Stanley executives of a projected GDP growth of 4.0%–4.5% for 2025 and inflation within the 4% ± 1% target range. The bank expects foreign-currency generation of USD 45.7bn and a current-account deficit of 3.0% of GDP in 2025. Regulatory updates include amendments to the Operational Risk Regulation and User Protection Regulation, and the approval of mark-to-market accounting starting 1 January 2026.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-05-11•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority participated in the launch of Suma JKT Life Insurance in Dar es Salaam. Insurance Commissioner Dr. Baghayo Saqware emphasized professionalism, integrity, and innovation, noting regulatory support for the new insurer. The event highlighted industry backing and Suma JKT's economic contributions.
SupervisionAuthorisations & approvalsMarket development
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2025-05-11•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority published a notice that Alliance Assurances Spa will hold its ordinary and extraordinary general meetings on 5 June 2025 at 9:00 a.m. in Hydra, Algiers.
SupervisionOther
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2025-05-11•Greece•Ministry of National Economy and Finance (Greece)
Greece's Minister of National Economy and Finance, Kyriakos Pierrakakis, will attend the Eurogroup and ECOFIN meetings in Brussels on 12-13 May to discuss Banking Union implementation, the digital euro, and EU economic policy priorities. The Eurogroup will address the Banking Union roadmap, European Stability Mechanism preparations, and global economic developments, while ECOFIN will focus on the Savings and Investments Union, EU defence financing, and the economic impact of Russia's actions in Ukraine. Bilateral meetings with European officials are planned.
Other
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2025-05-11•Israel•Bank of Israel
The Bank of Israel announced the appointment of Mr. Ofer Golan as Director of the Payment and Settlement Systems Department, effective June 1, 2025, following a selection process led by Deputy Governor Andrew Abir. Golan brings extensive experience in risk management, regulation, and payments from his roles at KPMG, Wix, and CAL.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-10•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia released its inaugural Report on the Implementation of Macroprudential Policy, detailing measures to enhance banking resilience and financial stability. Borrower-based measures since mid-2023 aim to curb excessive risk-taking and household overindebtedness, while capital buffers have significantly increased the capital adequacy ratio. The report highlights the institutionalization of macroprudential policy through legislative amendments, with ongoing risk analysis and instrument adjustments planned.
Policy & regulationImplementation, projects & pilotsMacroprudential policy and tools
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2025-05-10•Europe•European Central Bank
European Central Bank Executive Board member Isabel Schnabel, at the Hoover Monetary Policy Conference, advocated for keeping euro area policy rates neutral to manage post-pandemic inflation. She noted medium-term inflation pressures from fiscal expansion and protectionism, with a stronger monetary response needed only if tariff pass-through, labor market conditions, or inflation expectations worsen significantly. Current inflation expectations, according to the ECB’s Consumer Expectations Survey, have risen but are not persistently unanchored.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-05-10•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services nullified two CFPB rules after President Trump's signing of Congressional Review Act resolutions. S.J. Res. 18 nullifies the rule on overdraft fees for large financial institutions, while S.J. Res. 28 nullifies the rule expanding CFPB authority over digital consumer payment applications. Both resolutions passed the House narrowly.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam emphasized green credit's role in transitioning to green industrial parks and achieving net-zero goals, with plans to enhance the legal framework and promote green lending. By March 2025, 58 credit institutions reported green loan balances exceeding VND 704.244 trillion, 4.3% of total credit. Challenges include the absence of a national green taxonomy and capacity constraints, with calls for improved frameworks and coordinated support from ministries and local authorities.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-05-09•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission hosted a guided visit for 50 students from the Instituto Politécnico Privado Internacional as part of its financial education programme. The initiative aimed to enhance understanding of Angola’s financial market and promote financial literacy among young people.
Financial literacy & educationFinancial literacy and education
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2025-05-09•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay is investing USD 100 million of its foreign reserves in a fixed-income ETF focused on Socially Responsible Investing (SRI) criteria. Managed by Amundi and developed by the Latin American Reserve Fund, the ETF targets instruments with ethical, social, and environmental standards. This investment serves as a diversification tool with intermediate interest-rate risk and low global credit risk, and the central bank plans to further integrate SRI considerations into its reserve strategies.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-09•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay hosted ASBA meetings in Montevideo with member authorities, the European Central Bank, the Financial Stability Institute, and Canada's Office of the Superintendent of Financial Institutions. Discussions focused on improving supervisory and regulatory practices for banking sector challenges. ASBA includes 41 supervisory institutions from 36 jurisdictions, aiming to enhance banking supervision and financial stability in the Americas.
SupervisionCooperationCross-border cooperation
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2025-05-09•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) announced initiatives to enhance understanding of the pension system and introduced complementary pension plans to broaden retirement savings access. SIPEN launched an employer recognition seal linked to a digital induction course on pensions, aiming to improve employer guidance. The new plans allow independent workers and expatriates to save for retirement with options for housing, education, or emergencies.
Financial literacy & educationFinancial literacy and education
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2025-05-09•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) participated in National Social Security Day and the 24th anniversary of Law 87-01, emphasizing its commitment to strengthening the social security system and promoting pension awareness. Led by CNSS General Manager Edward Guzmán and SIPEN Executive Director Joan Carlo Henríquez Solís, the events highlighted the need for system evolution and refinement of social security rights. Key attendees included representatives from DIDA, TSS, SISALRIL, and the Ministry of Labour.
Other
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2025-05-09•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) joined a Senate symposium on reforming Social Security Law 87-01, focusing on health, pensions, and occupational risks. Superintendent Francisco A. Torres highlighted the pension system's financial sustainability and the potential for complementary plans to cover informal workers. While SIPEN cannot propose legislative changes, it supports reform discussions using an actuarial model from the International Labour Organization to analyze alternative scenarios.
Policy & regulationReform agendas & priorities
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2025-05-09•Colombia•Superintendencia Financiera de Colombia
The Superintendencia Financiera de Colombia has begun the second phase of overhauling the Basic Accounting and Financial Circular, proposing a reissue as the Circular on Risks, Prudential Matters and Financial Information. This new structure will cover risks, prudential matters, financial information, and other topics, using criteria like obsolescence and unnecessary burdens. The authority has provided review tools, including an equivalence table and change-tracking file.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-05-09•Montenegro•Central Bank of Montenegro
Governor Irena Radovic of the Central Bank of Montenegro highlighted Montenegro's fiscal consolidation efforts at the Reykjavik Economic Conference, noting a reduction in gross public debt from 105.34% of GDP in 2020 to 61.32% in 2024. She attributed these improvements to the central bank's regulatory and supervisory policies, which enhance banking sector resilience and align with European standards.
Monetary policyOther
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2025-05-09•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority launched the first phase of an education programme on the Corporate Governance Code for companies with listed shares, focusing on transparency, disclosure, and supervisory considerations. The session, in collaboration with the Croatian Financial Services Supervisory Agency, also covered financial reporting, accounting standards, and sustainability reporting. Further phases are planned in the coming months.
Policy & regulationGuidance & interpretationCorporate governance
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2025-05-09•Australia•Australian Securities & Investments Commission
ASIC has charged Michael Dunjey, director of Ascent Investment and Coaching Pty Ltd, with 33 criminal offences for fund misrepresentations and mishandling investor funds. Charges include 23 counts of fraudulently obtaining over AUD 4 million, five counts of failing to act in good faith concerning nearly AUD 2.5 million, and five counts of falsifying company books. These proceedings relate to ASIC's 2022 civil action to wind up Ascent and its unregistered investment scheme, prosecuted by the Commonwealth Director of Public Prosecutions.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-05-09•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced updates to the CABRIO application for intermediaries and credit providers. A new feature will allow users to verify their identity using itsme® when accessing CABRIO.
Policy & regulationGuidance & interpretationOther
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2025-05-09•Africa•GABAC
The Central Africa Anti-Money Laundering Action Group (GABAC) and the Bank of Central African States (BEAC) discussed GABAC's 2025–2027 strategic action plan, focusing on regional institutional framework strengthening, technical assistance expansion, and Financial Action Task Force (FATF) evaluations. They also addressed the International Cooperation Review Group (ICRG) action plan for Cameroon and the Democratic Republic of the Congo, budgetary autonomy for Financial Intelligence Units, and BEAC's progress on CEMAC anti-money laundering texts.
Policy & regulationRules & requirementsAML and CFTDomestic cooperation
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2025-05-09•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority released a joint letter from Nordic resolution authorities to the European Banking Authority, advocating for a simplified and adaptable Single Rulebook to enhance financial stability and operational efficiency. The letter emphasizes the need for flexibility to accommodate structural diversity across Member States and supports a risk-based approach to improve resource allocation.
Policy & regulationCooperationRecovery and resolution
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2025-05-09•Belgium•Belgium Financial Services and Markets Authority
Belgium's Financial Services and Markets Authority has suspended trading in Codic International financial instruments on Euronext Brussels at the company's request. The suspension, effective from 9 May 2025 at 10:53 CET, will remain until a press release is issued.
SupervisionInterventionsTrading
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2025-05-09•Botswana•Bank of Botswana
The Bank of Botswana's Financial Stability Council assessed the domestic financial system as stable but noted vulnerabilities like a deteriorating fiscal position, low liquidity, and increased funding concentration. In response, the Bank reduced the primary reserve requirement to zero and extended repurchase agreement maturities. Ongoing initiatives include enhancing corporate governance, crisis management, consumer protection, and strengthening the AML/CFT framework.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-05-09•Rwanda•Rwanda Capital Markets Authority
Thapelo Tsheole, CEO of the Rwanda Capital Markets Authority, stressed at the 8th Africa Congress of Accountants the need for innovation-oriented regulation to boost sustainable growth and investor confidence in Africa's capital markets. He supported aligning standards with the International Sustainability Standards Board framework and integrating ESG principles. Tsheole highlighted the growing role of Green, Social, Sustainability, and Sustainability-linked instruments in financing sectors like renewable energy and healthcare.
Policy & regulationInternational standards & recommendations
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2025-05-09•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority supports the launch and annual meeting of the International Association of Special Investigation Units Tanzania branch to enhance coordination and skills against insurance fraud. Scheduled for 14-16 May 2025 in Arusha, it will gather stakeholders to discuss fraud challenges and detection. Key attendees include Zanzibar's President, Dr. Hussein Ali Mwinyi, and senior officials.
Policy & regulationCooperationFraud and scams
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2025-05-09•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved authorisations for several collective investment vehicles, including share and investment certificate issues, and senior management appointments at regulated entities. It also approved the 2025 financial plan for a state stock market infrastructure body and a draft amendment to an existing Commission decision.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-09•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market emphasized European integration as a key operational priority, aiming to align its financial market with European Union standards. The Commission is actively cooperating with international bodies like the International Organization of Securities Commissions and European regulators to enhance economic security and financial stability.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-05-09•Netherlands•Dutch Authority for the Financial Markets
Dutch Authority for the Financial Markets chair Laura van Geest emphasizes supervisory independence, highlighting appointment arrangements, funding, and operational autonomy. She advocates for fixed, non-renewable terms to reduce political influence and discusses funding models ensuring adequate resources. Van Geest stresses prioritizing based on risk analysis and warns against legislative overreach limiting autonomy.
SupervisionSupervision approach, priorities & toolkitCorporate governance
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2025-05-09•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia stressed central bank independence for monetary policy and economic stability, as noted by the IMF’s mission chief. An IMF assessment praised the bank's governance and alignment with international standards, including high scores in the 2022 Central Bank Transparency Code. North Macedonia's entry into the Single Euro Payments Area is expected to enhance cross-border EUR payments through regulatory harmonization.
Policy & regulationInternational standards & recommendationsOther
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2025-05-09•Italy•Bank of Italy
The Bank of Italy's outreach initiative, "In viaggio con la Banca d’Italia," will visit Arezzo on 14–15 May 2025 to promote financial literacy and engage with the public. Events include a session on digital payment fraud prevention and a roundtable on financial education for social inclusion. An open day at the Arezzo branch will feature educational workshops on the central bank's role and activities.
Financial literacy & educationFinancial literacy and education
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2025-05-09•China•Central Bank of the Republic of China
The People's Bank of China (PBOC) issued the Measures for the Administration of Data Security in the PBOC Business Domain, setting compliance requirements aligned with the Data Security Law. Applicable to financial institutions and PBOC-approved entities, it covers data processing in monetary policy, cross-border renminbi, and anti-money laundering. The framework includes data classification, security controls, risk monitoring, and cross-agency coordination, with exemptions and lighter penalties to prevent service disruptions.
Policy & regulationRules & requirementsData protection
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2025-05-09•China•Central Bank of the Republic of China
The People's Bank of China has introduced a "service consumption and elderly care" relending facility with a CNY 500 billion quota, 1.5% annual interest rate, and a maximum three-year use period, running through 2027. Access is limited to 26 financial institutions, including major banks, which will set loan terms and apply for relending equal to 100% of the loan principal for eligible sectors. The central bank will ensure compliance through ex post verification and supervisory oversight.
Policy & regulationImplementation, projects & pilotsLending
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2025-05-09•China•Central Bank of the Republic of China
The People's Bank of China (PBoC) issued the Measures for Data Security Management, detailing governance, operational, technical, and oversight requirements for financial institutions processing data related to PBoC functions. These Measures implement the People's Republic of China Data Security Law, covering monetary policy, cross-border renminbi, and anti-money laundering. Effective 30 June 2025, they outline data lifecycle security controls and supervisory responsibilities for the PBoC and its branches.
Policy & regulationRules & requirementsData protection
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2025-05-09•Indonesia•Bank Indonesia
Bank Indonesia's April 2025 Consumer Survey indicates sustained consumer optimism, with the Consumer Confidence Index rising to 121.7 from 121.1 in March. The Current Economic Condition Index increased to 113.7 from 110.6, while the Consumer Expectation Index remained optimistic at 129.8, despite a slight decrease from 131.7.
Data & statisticsEconomic data and developments
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2025-05-09•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority announced that the Supreme Court of Bermuda ordered the winding-up of Sagehi Equity Fund Ltd under the Investment Funds Act 2006. The court appointed Mathew Clingerman and Dylan Marshall of Kroll Bermuda Limited as joint provisional liquidators. The Authority cited breaches, including failures in appointing key roles and conducting business prudently, leading to impaired assets and inability to meet liabilities.
EnforcementInvestigations & enforcement actionsAuditingCorporate governance
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2025-05-09•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority petitioned the Supreme Court of Bermuda to wind up Stonebridge Capital Hedge Fund Limited due to serious breaches of the Investment Funds Act 2006, including failure to prepare audited financial statements and appoint an auditor. The Court ordered the fund's liquidation on 31 January 2025, appointing Rachelle Frisby and Robert Cowie of Interpath (Bermuda) Limited as joint provisional liquidators.
EnforcementInvestigations & enforcement actionsAuditing
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2025-05-09•Belize•Central Bank of Belize
The Central Bank of Belize now allows customers to buy foreign currency directly from domestic banks for specified service-based transactions up to BZ$100,000 without prior approval. This applies to 12 categories, including accounting, engineering, and legal services. Transactions over BZ$100,000 or outside these categories still need Central Bank approval.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-05-09•Belize•Central Bank of Belize
The Central Bank of Belize completed public education sessions under its "Know Your Money" initiative to prepare stakeholders for the circulation of redesigned banknotes. Over 700 participants, including financial institutions and government agencies, were briefed on the banknotes' design, security features, and handling. The initiative also included internal readiness sessions for central bank staff.
Financial literacy & educationFinancial literacy and education
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2025-05-09•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds has implemented Law No. 32294, requiring financial firms to provide reasons for credit application rejections within seven business days, unless based on prudential rules. This consumer protection amendment must be communicated through pre-established channels, with non-compliance considered a minor infringement. Firms have 60 days to update internal procedures accordingly.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-05-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens reported by Shanghai Commercial Bank Limited. The HKMA reminded customers that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert about a fraudulent website and internet banking login screen linked to The Hongkong and Shanghai Banking Corporation Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to The Bank of East Asia, 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. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has launched the 2025 Green Fintech Competition, co-hosted with the Hong Kong Institute of Bankers and other partners, to invite green fintech solutions for sustainability-related use cases in the financial industry. The competition will evaluate entries across five themes, including sustainable supply chains and climate risk modelling. Winners will present at the Green Fintech Symposium during Hong Kong Green Week.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens reported by 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 are advised to contact Chong Hing Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-09•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria and Bulgaria’s Economic and Social Council signed a memorandum to enhance coordination for Bulgaria's euro area accession and euro introduction. The agreement aims to leverage the Council's platform for stakeholder engagement, drawing on the central bank's expertise for related communications. Future initiatives will focus on the impact of euro area entry on education, incomes, and job prospects for young people.
Policy & regulationCooperationDomestic cooperation
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2025-05-09•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Phildraw Properties Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 9 May 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-09•United Kingdom•UK Parliament
The UK Parliament announced that the Property (Digital Assets etc.) Bill has completed its legislative process and received Royal Assent, becoming an Act of Parliament. The Act establishes that digital assets like crypto-tokens and non-fungible tokens can attract property rights, though it does not classify any specific category as property.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-09•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland released President Beth Hammack's speech titled "The Outlook for the Economy and Monetary Policy," presented at the Hoover Institution on May 9, 2025.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-05-09•Qatar•Qatar Central Bank
The Qatar Central Bank announced that international reserves and foreign currency liquidity reached QAR 257.1 billion in April 2025, with international official reserves rising 4.6% year-on-year to QAR 197.9 billion.
Data & statisticsMonetary data
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2025-05-09•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority has updated its guidance to align with Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR) and the EEA MiCA Implementation Act, updating terminology. Changes to Articles 7 and 25 DDO incorporate electronic identification per the eIDAS Regulation and provide additional explanations on delegation. The amendments clarify Adverse Media Screening procedures, allowing limited subsequent screening for due diligence subjects that cannot be "white listed."
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-05-09•Europe•European Central Bank
The European Central Bank released the Eurosystem’s weekly consolidated financial statement, reporting total assets and liabilities of EUR 6,301,244 million, a decrease of EUR 12,358 million from the previous week. Key changes include a EUR 4,994 million reduction in lending to euro area credit institutions and a EUR 15,366 million increase in the deposit facility. The statement noted a decline in banknotes in circulation and liabilities to non-euro area residents.
Data & statisticsBalance of payments and other external statistics
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2025-05-09•Brunei Darussalam•Ministry of Finance (Brunei Darussalam)
The Ministry of Finance (Brunei Darussalam) reported that Minister Dr Awang Haji Mohd Amin Liew attended the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting and the ADB Annual Meeting in Milan, where regional authorities endorsed a joint statement. Brunei highlighted policy priorities like renewable energy, food security, and digital transformation, emphasizing unity amid global uncertainty. The minister also discussed Brunei's economic outlook and potential cooperation with ADB President Masato Kanda.
Policy & regulationCooperationCross-border cooperation
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2025-05-09•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority reported that the Court of Appeal upheld the conviction in the Pushpay insider trading case, increasing the fine to NZD 200,000 and dismissing the appeal for name suppression, which remains interim for seven days. The case involved insider information about former Pushpay co-founder Eliot Crowther's resignation and share sell-down, with the defendant convicted in August 2023 and sentenced to community detention.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-09•United States•New York State Department of Financial Services
The New York State Department of Financial Services announced the FY26 budget, expanding its oversight to include pharmacy benefit managers and granting authority to regulate Buy Now, Pay Later loans. The budget also introduces measures to stabilize New York’s for-hire vehicle insurance market, addressing livery insurance challenges and enhancing drivers' access to reliable coverage options.
Policy & regulationReform agendas & prioritiesBNPLConsumer and investor protection
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2025-05-09•United States•New York State Department of Financial Services
The New York State Department of Financial Services announced FY 2026 consumer protection measures covering online subscriptions, e-commerce returns, BNPL lending, and algorithm-driven pricing. Key provisions include subscription renewal notifications, clear online return policies, a BNPL licensing framework, and algorithmic pricing disclosures. The measures also target overdraft fee reforms to eliminate exploitative banking fees and improve customer communications.
Policy & regulationRules & requirementsBNPLConsumer and investor protection
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2025-05-09•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission is seeking price quotations from providers for equipment and services to aid in preparing a feasibility study report for a centralized sector-specific data warehouse project.
Institutional developmentTechnology & data transformationOutsourcing and third-party risk management
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2025-05-09•Serbia•Republic of Serbia Securities Commission
The Republic of Serbia Securities Commission updated guidelines for assessing money laundering and terrorism financing risks, aligning with the 2024 National Risk Assessment and recent legal amendments. These guidelines apply to entities under its supervision, including investment firms and digital token service providers, and include revised indicator lists and updated questionnaire templates. The Commission encourages reporting entities to familiarize themselves with these updates.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-09•Estonia•Central Bank of Estonia
The Central Bank of Estonia has launched its annual economic research award competition in memory of Urmas Sepp, inviting master's and doctoral-level researchers with ties to Estonia to participate. The awards, EUR 3,000 for PhD-related research and EUR 2,000 for master's-level research, aim to recognize outstanding academic contributions. The bank reserves the right to withhold awards if submissions do not meet quality standards.
ResearchOther
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2025-05-09•Albania•Albania Financial Services Authority
The Albania Financial Services Authority will assess the suitability of private pension fund managers and depositary banks at its board meeting on 21 May 2025, in line with Law No. 76/2023. The agenda includes evaluations for Credins Invest, Sigal Uniqa Invest, and related pension funds, as well as depositary activities of Banka Credins and Banka Kombëtare Tregtare. Licensing proposals and governance approvals for financial entities will also be reviewed.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-09•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia conducted its 29th Examination in the Securities Sector for various firms, including securities business and derivative business firms. A total of 99 candidates participated, with 15 being foreign candidates. Results are expected by 23 May 2025.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-05-09•Switzerland•Swiss National Bank
The Swiss National Bank (SNB) is transferring CHF 890.6 million to Fondssuisse, the Confederation, and the cantons, representing 90% of the unexchanged value of sixth-series banknotes recalled by 30 April 2025. This allocation follows the Federal Act on Currency and Payment Instruments, which mandates distribution 25 years post-recall. The SNB retains CHF 99.0 million to fulfill its unlimited exchange obligation.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-05-09•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC was recognized for reforms aiding the country's exit from the FATF grey list. Key measures included enhancing beneficial ownership transparency, prohibiting bearer shares, and implementing an amnesty program, raising compliance rates. The SEC plans to sustain these reforms and address emerging AML/CFT risks, with the launch of the HARBOR registry for beneficial ownership updates.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-05-09•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) warned against Donald Newton Mason, Mason Built Financial Inc., Mason Built Financials, and 1000111224 Ontario Inc., stating they are unlicensed for mortgage brokering in Ontario. FSRA highlighted risks of dealing with unlicensed entities, including reduced legal protections and unsuitable mortgage advice. Consumers, especially seniors, have been targeted to downsize and invest home sale proceeds with these parties. FSRA urged verification of licensing through its public registry.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-09•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website “defi.qtnimint.top”, falsely claiming to be licensed as a securities dealer. Qtum (SC) Ltd is not authorized by the FSA, and the website is not linked to any FSA-regulated entity. The FSA advises caution and will not be liable for any losses incurred.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity