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2025-04-11•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi aims to fully digitise the financial sector by November 2025, focusing on modernising payment systems. The initiative includes upgrading the card switch for full interoperability and establishing a central transaction management system to support various payment channels. The system will accommodate both online and offline transactions, addressing concerns about internet coverage and smartphone access.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-04-11•India•Securities & Exchange Board of India
SEBI cautioned about rising securities market frauds on social media, involving fake SEBI registrations and deceptive trading calls. Investors should verify social media authenticity and only deal with SEBI-registered intermediaries, as disputes with unregistered entities aren't covered by SEBI's protection mechanisms. Investors are encouraged to report unregistered entities via SEBI’s Market Intelligence portal.
SupervisionAlertsFraud and scams
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2025-04-11•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) in the UK launched a campaign with short films to encourage pension schemes to prepare for pensions dashboards, emphasizing accurate, accessible, and digitised member data. While 80% of schemes are on track to meet their dashboard staging dates, 25% still hold non-digital data and outdated pension values. TPR outlined five priority actions for trustees and administrators, including data preparation and increased supervisory focus on data quality.
SupervisionSupervision approach, priorities & toolkitOther
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2025-04-11•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission announced winners of its first National Secondary Schools Investing Competition, awarding securities-investment prizes to top students. Alario Andalcio won first place with a $10,000 investment prize, followed by Sydney Look Fong and Antonio Andalcio. TTSEC CEO Kester Guy emphasized the need for collaboration with education stakeholders, proposing a memorandum of understanding with measurable success factors.
Financial literacy & educationFinancial literacy and education
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2025-04-11•Honduras•Central Bank of Honduras
The IMF and Honduran authorities reached a staff-level agreement on policies for the third review under Honduras’s Extended Credit Facility and Extended Fund Facility, with IMF Executive Board approval anticipated in June for a potential USD 155 million disbursement. The agreement highlights Honduras's 3.6% growth in 2024, 4.5% inflation within the Central Bank's target range, and increased international reserves. Key policy discussions focused on fiscal prudence, social cash transfers, energy-sector reforms, and anti-corruption measures ahead of the 2026 Financial Action Task Force evaluation.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-04-10•Greece•Bank of Greece
At the 10th Delphi Economic Forum, Bank of Greece Deputy Governor Christina Papaconstantinou and ECB SSM Director-General Korbinian Ibel discussed European and Greek banks' resilience amid rising geopolitical risks. Ibel noted improvements in capital, liquidity, profitability, and asset quality over the past decade. Both highlighted Greek banks' progress in reducing non-performing loans and increasing profitability. Papaconstantinou advocated for further European integration, including completing the Banking Union and Capital Markets Union.
SupervisionSupervision approach, priorities & toolkitAsset qualityCapital adequacyFinancial stability and systemic risk
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2025-04-10•Israel•Bank of Israel
The Bank of Israel's Governor Prof. Amir Yaron and the Monetary Committee met with financial forecasters to discuss economic assessments amid the ongoing war, following a presentation by Dr. Osnat Zohar on the central bank's recent assessment and interest rate announcement.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-04-10•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) issued guidance for relatives of Jet Set tragedy victims on accessing benefits under the Dominican Pension System. Legal beneficiaries may receive a survivor pension if covered by disability and survivorship insurance, or heirs can claim the deceased's account balance as inheritance without intermediaries. An online tool is available to identify the deceased's pension fund administrator.
Policy & regulationGuidance & interpretationOther
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2025-04-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus published February 2025 interest rate data for deposits and loans across credit institutions.
Data & statisticsFinancial and market indicators
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2025-04-10•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority's chair, Željko Drinčić, participated in the "Capital Days" conference in Ljubljana, focusing on regional cooperation and capital market development. Hosted by the Slovenia Securities Market Agency, the event featured discussions on Slovenian listed companies, individual investment accounts, and market trends, including increased retail interest in fund investing.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) secured Federal Court orders to appoint liquidators for Falcon Capital Limited and its related unregistered subsidiary funds, including the First Guardian Master Fund, due to management and investor risk concerns. A receiver was also appointed for Falcon director David Anderson's property. This follows a February 2025 asset freeze amid ongoing investigations. Falcon had suspended certain transactions since May 2024, with investors reportedly directed to financial advisors recommending superannuation investments in First Guardian funds. The investigation continues, with updates on ASIC's First Guardian Master Fund webpage.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-04-10•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) reported that former Gold Coast property developer Michael Steele pleaded guilty to four counts of fraud, misappropriating over AUD 1.3 million from 14 investors between May 2016 and February 2017. The funds, intended for a land development in Biggera Waters, Queensland, were used for personal purchases. The case, prosecuted by the Office of the Director of Public Prosecutions after an ASIC investigation, carries a maximum penalty of 12 to 20 years' imprisonment under the Criminal Code (Qld).
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-04-10•France•France Autorite des marches financiers
France's Autorité des marchés financiers issued an update under section III.3 addressing efforts to combat money laundering and the financing of terrorism.
Policy & regulationGuidance & interpretationAML and CFT
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2025-04-10•Bahamas•Bahamas Securities Commission
The Securities Commission of The Bahamas warned that Incomemax Financial Enrollment Investment is not registered or licensed and may be conducting illegal activities. Incomemax solicits cryptocurrency deposits with promises of high returns, resembling a Ponzi scheme. The Commission urged caution and referenced prior notices on the illegality of such schemes under the Financial and Corporate Service Providers Act, 2020.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-10•Mexico•Central Bank of Mexico
In Senate testimony, the Central Bank of Mexico outlined its strategy to return inflation to the 3% target, reducing the policy rate from 11.25% to 9.00% through several cuts. The bank projects headline inflation reaching 3% by Q3 2026 amid economic slowdown and trade tensions. It also reported the financial system's strong capitalisation and liquidity, with measures to enhance competition and transparency, including a credit application platform and significant payroll-portability requests.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-04-10•Europe•European Securities and Markets Authority
The European Securities and Markets Authority released a final report with three draft technical standards under the MiFIR Review, focusing on simplification and burden reduction. Key updates include changes to the single volume cap, transparency calculations, and a new qualitative regime for Systematic Internalisers. The report aligns circuit breaker rules with the Digital Operational Resilience Act (DORA) framework and has been submitted to the European Commission for endorsement.
Policy & regulationRules & requirementsRegulatory burden
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2025-04-10•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) published a Final Report with draft Regulatory Technical Standards on investment firms' order execution policies to enhance execution and investor protection. The standards outline requirements for policy design, financial instrument classification, venue selection, and monitoring effectiveness. The report has been submitted to the European Commission, with ESMA offering further guidance if necessary.
Policy & regulationRules & requirementsTrading
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2025-04-10•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority now requires insurers to engage only authorised intermediaries, after finding two of twelve lacked authorisation. Insurers must verify authorisation via the authority's public register. The Insurance Mediation Act mandates authorisation for all mediation activities, with non-compliance subject to regulatory orders.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-04-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released March 2025 statistics for the Central Information Archive.
Data & statisticsSupervisory data
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2025-04-10•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) issued a joint warning and updated their blacklists of unauthorised websites offering unregulated forex and crypto-asset derivatives in France. Since early 2025, 15 forex and 8 crypto-asset derivatives sites have been added. Investors are advised to verify firm authorisation via official registers and the AMF list.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-10•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has initiated consultation CP 383 to propose publishing two public dashboards with firm-level Reportable Situations and Internal Dispute Resolution complaints data by late 2025. This aims to enhance transparency, accountability, and compliance by highlighting significant breaches and complaints. The consultation seeks feedback on these proposals, building on ASIC's previous insights, with submissions due by 14 May 2025.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2025-04-10•Botswana•Bank of Botswana
The Bank of Botswana has issued a public notice for depositors with Dafritech (Pty) Ltd to claim their funds following a court-ordered transfer of deposits to the central bank. This action follows a High Court ruling that Dafritech engaged in illegal deposit-taking, violating the Banking Act. Claimants must provide proof of identity and deposit, while representatives must show documentary proof of representation.
EnforcementInvestigations & enforcement actionsProcurement
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2025-04-10•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market reported on its delegation's visit to Germany's Federal Financial Supervisory Authority, focusing on electronic securities and digital financial infrastructure. Discussions highlighted distributed ledger technologies and regulatory exchanges. The Commission linked this cooperation to harmonising with International Organization of Securities Commissions principles and joining the IOSCO Multilateral Memorandum of Understanding.
Policy & regulationCooperationCross-border cooperationMarket development
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2025-04-10•Angola•Ministry of Finance (Angola)
Angola's Ministry of Finance highlighted the strategic role of insurance intermediaries and stricter market entry expectations under the new legal regime. Since 2019, supervisory enhancements include a dedicated regulatory structure and Law No. 6/24, which strengthens institutional robustness and imposes higher capital and organizational requirements. ARSEG reported AOA 112.1 billion of the AOA 473.7 billion in 2024 premiums were generated through insurance mediation.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-04-10•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has released draft amendments for public consultation to streamline the framework for public offers of shares, debt securities, and REIT units. Key proposals include reducing IPO processing time, enhancing disclosure requirements, and reforming book building to encourage underwriter participation. The amendments also introduce technology measures like QR codes, electronic signatures, and a transition to e-IPO applications.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-10•Italy•Bank of Italy
The Bank of Italy published Legal Research Notebook No. 103, examining the Markets in Crypto-Assets (MiCA) Regulation in the context of banking regulation and payment services rules.
ResearchFintech and insurtechPayments and payment systems
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2025-04-10•Italy•Bank of Italy
The Bank of Italy published Giuseppe Siani's written submission for his Senate hearing, detailing prudential supervision rules and supervisory controls in the banking, financial, and insurance system.
Policy & regulationGuidance & interpretationOther
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2025-04-10•Italy•Bank of Italy
The Bank of Italy, in collaboration with Collegio Carlo Alberto–University of Turin and Norges Bank, has announced a call for papers for a conference on monetary policy and heterogeneity in households, firms, and financial intermediaries. The conference, drawing on microdata insights, will be held in Rome on 13–14 October 2025. It will explore new modelling approaches and empirical evidence related to heterogeneity in economic behaviour.
ResearchOther
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2025-04-10•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia anticipates domestic banks will connect to the Single Euro Payments Area (SEPA) by October 2025, enhancing cross-border euro payment efficiency. The central bank is overseeing banks' alignment with European standards and plans to simplify procedures for capital and inbound transactions. It aims for faster, cost-effective transfers, with banks expected to reduce fees for customers.
Policy & regulationRules & requirementsCross-border payments
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2025-04-10•China•Central Bank of the Republic of China
The People's Bank of China announced a second round of online reservations and exchanges for commemorative coins and a banknote, including the Northeast Tiger and Leopard National Park and Peking Opera Art coins. Participating banks will manage online reservations from 6 to 7 May 2025, with exchanges from 9 to 13 May 2025 at designated branches. Customers must present valid identity documents, with specific per-person limits and provisions for proxy exchanges.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-10•Italy•Bank of Italy
The Bank of Italy released Legal Research No. 103, analyzing the Markets in Crypto-Assets (MiCA) Regulation within the framework of banking regulation and payment services.
Policy & regulationGuidance & interpretationFintech and insurtechPayments and payment systems
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2025-04-10•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance announced that Minister for Finance and Eurogroup President Paschal Donohoe will chair the Eurogroup and participate in the Informal Economic and Financial Affairs Council meeting in Warsaw. Discussions will focus on economic developments, fiscal conditions, and euro area policy coordination amid global volatility, with input from European Parliament Economic and Monetary Affairs Committee Chair Aurore Lalucq. The Informal ECOFIN will address trade's macroeconomic impact, European financial market competitiveness, and security and defence financing.
Policy & regulationCooperationOther
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2025-04-10•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance announced the passage of the Financial Services and Pensions Ombudsman (Amendment) Bill 2023, enhancing consumer protection by broadening FSPO access for all mortgage holders. The reforms address issues for loans sold before 2015 and between 2015 and 2018, ensuring FSPO protections for customers of financial service providers that have exited the Irish market. The Bill, aligning FSPO functions with constitutional requirements post-Zalewski decision, awaits the President's signature to become law.
Policy & regulationRules & requirementsMandate change
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2025-04-10•Norway•Department of Finance (Norway)
Norway's Ministry of Finance has revised its notification approach for the mortgage risk-weight floor for internal ratings-based banks, using the process under Article 458(2) to (4) of the Capital Requirements Regulation. The mortgage floor will increase from 20% to 25% effective 1 July 2025, while the commercial real estate floor remains at 35%. The EFTA States' Standing Committee will assess the measure based on recommendations from the EFTA Surveillance Authority, considering input from the European Systemic Risk Board and the European Banking Authority.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-10•Norway•Department of Finance (Norway)
Norway's Ministry of Finance proposed a bill to include accountants' confirmation services under the Accountancy Act and clarify fines for law firms breaching the Money Laundering Act. It subjects accounting confirmations to the Financial Supervisory Authority's oversight and confirms the Lawyer Supervisory Authority's mandate to penalize law firms for violations. The proposal is detailed in Proposition 120 L (2024–2025).
Policy & regulationRules & requirementsAML and CFTAccounting and financial reporting
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2025-04-10•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority (BMA) issued Guidance Notes for insurers' recovery planning under the Insurance (Prudential Standards) (Recovery Plan) Rules 2024, emphasizing it as a management process to restore financial strength under stress. Formal Recovery Plans are mandated for insurers deemed economically important or systemically significant, with criteria including domestic business and asset or premium thresholds. The guidance outlines plan components such as solvency triggers, governance, recovery options, and communication protocols, with board approval and periodic updates required.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-04-10•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has initiated a public consultation on draft Guidance Notes to aid Bermuda commercial insurers in meeting recovery planning requirements. These notes aim to complement the Insurance (Prudential Standards) (Recovery Plan) Rules 2024 by outlining the expected structure and content of a Recovery Plan.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-04-10•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority released a stakeholder letter and draft Guidance Note on recovery planning requirements for Bermuda commercial insurers. This provides further guidance under the Insurance (Prudential Standards) (Recovery Plan) Rules 2024.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-04-10•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released findings from a review of trading apps, highlighting positive practices and areas for improvement in product governance, pricing, and digital engagement. The review of 28 firms identified risks with introducer models and emphasized clarifying trading agreements with overseas entities. The FCA expects firms to define target markets, manage conflicts from revenue drivers, ensure fair value, and conduct robust appropriateness tests for complex products.
SupervisionReviews, inspections & stress testsTrading
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2025-04-10•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) released an information note regarding a 2023 questionnaire assessing the activities of management bodies and supporting committees of insurance and pension fund management companies based in Portugal.
SupervisionRegulatory reportingSupervision process and methodologies
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2025-04-10•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) published findings from a review of banks' and building societies' handling of bereavement and power of attorney, noting improvements in customer support since the Consumer Duty's introduction. However, the FCA identified issues with staff clarity and response times, affecting customer access to funds and support during emergencies. The review contributes to the FCA's focus on treating vulnerable consumers.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-04-10•Global•G30
The Group of Thirty (G30) appointed Raghuram G. Rajan as Chair, succeeding Mark Carney. Rajan, a former Governor of the Reserve Bank of India, brings extensive experience in central banking and international finance. The G30 highlighted its tradition of orderly leadership succession.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-10•Austria•Austria Financial Market Authority
The Austria Financial Market Authority released the April edition of its “Reden wir über Geld” podcast, focusing on consumer lending and the risks of buy now, pay later models. FMA experts discuss high interest rates and financial management challenges associated with deferred payments. The episode also highlights advance payment loan fraud.
Financial literacy & educationBNPLConsumer and investor protection
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2025-04-10•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 approved Azamat Alpysbayuly Kurmanov as a board member of JSC Information and Accounting Center, focusing on information technology and security.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-04-10•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) released its March 2025 capital markets benchmarks. Stakeholders are encouraged to subscribe to notifications via the CMVM's Institutional and Investor Portals for email updates.
Data & statisticsFinancial and market indicators
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2025-04-10•Latin America•Financial Action Task Force of Latin America (GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT) reported on a meeting in Abu Dhabi from 7 to 9 April, aimed at enhancing dialogue and cooperation within the FATF Global Network. Organized by the UAE's National Committee on Anti Money Laundering, the event included participation from the FATF Secretariat and regional bodies, focusing on sharing good practices and supporting members ahead of the fifth round of mutual evaluations.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding phishing instant messages reported by Mox Bank Limited. The HKMA emphasized 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 Mox Bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority, Police Force, and Association of Banks announced measures to combat fraud and scam-related money laundering, focusing on mule account networks. The initiative includes expanded Scameter data use, legislative amendments for bank-to-bank information sharing, and enhanced public messaging. An upgraded Financial Intelligence Evaluation Sharing Tool platform is expected by year-end, with ongoing thematic reviews and industry coordination to strengthen controls.
Policy & regulationImplementation, projects & pilotsFraud and scamsAML and CFT
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2025-04-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen linked to 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. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen reported by The Bank of East Asia, Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who interacted with the fraudulent site should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding a fraudulent website and internet banking login screen reported by Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks 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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2025-04-10•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency has imposed measures on AcnTurk Sigorta AŞ and Arex Sigorta AŞ for mismanagement and insurance legislation breaches. AcnTurk Sigorta is barred from new contracts and policy renewals until capital adequacy is restored. Arex Sigorta's surety line licence is cancelled, and it cannot write or renew business in other lines until conditions are met.
SupervisionAuthorisations & approvalsCorporate governance
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2025-04-10•Qatar•Qatar Central Bank
Qatar Central Bank announced that international reserves and foreign currency liquidity reached QAR 2,563 billion in March 2025, with international official reserves rising 4.60% year-on-year to QAR 197.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-04-10•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission and the Thai General Insurance Association held a session to discuss the Enterprise Risk Management and Own Risk Solvency Assessment (ERM-ORSA) framework and gather feedback. The meeting aimed to enhance technical understanding, address practical issues, and align the 2025 ERM-ORSA report template with the notification. It also linked ERM-ORSA implementation to insurers' progress toward "Group 1" status under the new Early Warning System.
SupervisionSupervision approach, priorities & toolkitOther
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2025-04-10•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston's research note reveals increased redemption sensitivity among retail investors in prime money market funds during the 2020 COVID-19 crisis compared to the 2008 Global Financial Crisis. Institutional investors showed consistent behavior across both crises, with similar net outflows. The study attributes changes in retail behavior to enhanced information availability post-U.S. Securities and Exchange Commission reforms, impacting financial-stability assessments.
ResearchMarket risk and volatilityFinancial stability and systemic risk
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2025-04-10•Middle East•Arab Monetary Fund
The Arab Monetary Fund's Director General, Dr. Fahad M. Alturki, engaged with Arab finance ministers and central bank governors in Kuwait to discuss the Fund's strategic directions, technical and financial support, economic reforms, digital transformation, credit rating improvements, and financial inclusion.
Policy & regulationCooperationDomestic cooperation
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2025-04-10•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan's MF251528 credit auction on 10 April 2025 offered TJS 30,000,000, receiving bids of TJS 18,500,000. Both the submitted and weighted-average annual interest rates were 8.85%.
Monetary policyMonetary policy instruments & operationsLiquidity riskPrudential risks
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2025-04-10•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) joined the Ministry of Education's inaugural Consciência e Ação programme meeting, aligning with Brazil’s National Strategy for Financial Education. SUSEP emphasized the Brazilian Financial Education Forum's role in integrating financial education into schools and highlighted the upcoming 12th National Financial Education Week, focusing on youth financial literacy.
Financial literacy & educationFinancial literacy and education
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2025-04-10•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) participated in the European Commission’s expert meeting on medium-term macroeconomic projections for EU candidate countries. The CBBH anticipates revising Bosnia and Herzegovina's projections in the spring, with inflation expected to rise and economic activity to decline compared to autumn 2024 projections. Global factors like potential trade wars and U.S. tariffs, alongside domestic issues such as a wage-inflation spiral, influence these revisions.
Policy & regulationCooperationEconomic data and developments
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2025-04-10•Spain•Bank of Spain
The Bank of Spain's updated Financial Accounts show a 1.6% rise in consolidated debt of non-financial corporations and households to EUR 1.706 trillion in 2024, while the debt-to-GDP ratio fell to 107.2%. Non-financial corporate debt reached EUR 1.0107 trillion, and household debt rose to EUR 695.6 billion, with GDP ratios of 63.5% and 43.7%, respectively. Household gross financial assets grew by 7.5% to EUR 3.132 trillion, raising the GDP ratio to 196.8%, and net financial wealth increased to EUR 2.374 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-10•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 20% decrease in foreign direct investment net inflows to USD 731 million in January 2025, primarily due to a 37.7% drop in nonresidents' net investments in debt instruments. Equity capital turned to net inflows of USD 88 million, with significant contributions from Japan, the United States, Singapore, and Malaysia, directed mainly to manufacturing, financial and insurance, and real estate sectors.
Data & statisticsBalance of payments and other external statistics
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2025-04-10•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam announced that the National Bank of Cambodia has joined the Regional Payment Connectivity initiative, bringing the total number of participating ASEAN central banks to nine. This was formalized during the launch of the second phase of the Malaysia–Cambodia cross-border QR payment linkage. The initiative, established in 2022, aims to enhance cross-border payments to support regional economic activities.
Policy & regulationCooperationCross-border payments
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2025-04-10•United States•New York State Department of Financial Services
The New York State Department of Financial Services ordered Block, Inc. to pay a USD 40 million penalty and appoint an independent monitor due to significant Bank Secrecy Act/Anti-Money Laundering failures on the Cash App platform. The investigation found inadequate customer due diligence, insufficient risk controls, and ineffective transaction monitoring, especially with high-risk Bitcoin transactions. Block has cooperated and committed to addressing these deficiencies.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-04-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered Bravo Assessoria em Investimentos Ltda. and its partner, Iridan Luiz Ribeiro dos Santos, to cease public offerings of investment advisory and securities portfolio management services. The CVM issued a market warning after its Superintendence of Market and Intermediary Relations found the firm was operating without authorization. This action was formalized through CVM Declaratory Act 23,246.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Declaratory Act CVM 23,267, ordering Securcap Securities Limited to cease public offerings of securities intermediation services. The firm, operating under the XLNTRADE brand, was found attempting to attract Brazilian clients for securities transactions without authorization. CVM warned the public about the firm's unauthorized activities.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-10•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, focusing on enhancing regional financial resilience, cross-border payment connectivity, and sustainable finance. ASEAN pledged not to impose retaliatory measures against U.S. tariffs and will monitor capital flow volatility. Key initiatives include a multi-year payment connectivity roadmap, establishing "Nexus Global Payment" in Singapore, and endorsing the ASEAN Infrastructure Fund Action Plan for 2025-2028.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-10•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) has issued an alert regarding the unauthorised use of its name by the 'Ya Sobral' project, which falsely claims AFSA regulation and impersonates InvestRoom Ltd, a licensed AIFC firm. AFSA clarified that 'Ya Sobral' is not registered or licensed by AFSA and warned of potential criminal activities, urging the public to verify authorisations and avoid financial dealings with the project.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-10•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has released a list of individuals with qualification certificates for providing investment services and managing investment funds in the securities market. This publication aims to enhance market transparency and investor protection by detailing each certified individual's credentials.
Data & statisticsLicensing framework and process
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2025-04-10•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission issued Circular Letter No. 2025-09, adopting Omnibus Guidelines on Investments for insurance entities, expanding allowable investments and removing prior approval for certain instruments. The framework permits investments in structured products and supranational debt securities, subject to conditions like minimum credit ratings. It also eliminates prior approval for PHP- and foreign currency-denominated investments meeting market standards.
Policy & regulationRules & requirements
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2025-04-10•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur.
Policy & regulationCooperationOther
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2025-04-10•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released Periodical No. 190 for March 2025, detailing its regulatory, supervisory, and institutional activities. The publication aims to assist consumers and investors in understanding the markets under its supervision.
Financial literacy & educationOther
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia, with the United Nations Development Programme and the Asian Development Bank, released “Building Supply Chain Resilience: Insights into Greening Value Chains for ASEAN.” This guide helps businesses accelerate decarbonisation and enhance supply chain resilience, based on Malaysia’s Greening Value Chain pilot programme. The initiative provides technical training, emissions measurement tools, and competitive financing via the Low Carbon Transition Facility.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-10•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced that the UK Government updated sanctions, imposing director disqualification on designated persons under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020. This affects 2,996 individuals and 818 entities, prohibiting them from acting as directors or engaging in company management in Guernsey or Alderney without a licence or exception. Firms must report affected relationships to the States of Guernsey Policy & Resources Committee and the Commission, detailing the connection and actions taken.
EnforcementSanctions & designationsSanctions list update
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2025-04-10•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission added four individuals to the UK Global Human Rights Sanctions Regulations 2020 list, subjecting them to an asset freeze in the Bailiwick of Guernsey. Businesses must verify relationships, freeze relevant assets, and report to the States of Guernsey Policy & Resources Committee. Compliance with the Sanctions (Bailiwick of Guernsey) Law, 2018, is required, including reporting to the Commission and adhering to statutory obligations.
EnforcementSanctions & designationsNew sanctions designations
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, emphasizing financial resilience, cross-border payment connectivity, and sustainable finance. Key initiatives include a roadmap with 2025 targets for expanding cross-border payment linkages and increasing QR and peer-to-peer transactions, alongside efforts to combat fraud. The meeting also endorsed the ASEAN Infrastructure Fund Action Plan and proposed new financing facilities for regional projects.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia and the Bank of Thailand have signed a Memorandum of Understanding to enhance cooperation in cybersecurity and digital fraud protection. The agreement focuses on information sharing, capacity building, and exchanging best practices to bolster cybersecurity preparedness and consumer protection in both countries' financial sectors.
Policy & regulationCooperationCyber resilience
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2025-04-10•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has introduced new continuing education requirements for all mortgage agents and brokers, effective by March 31, 2026. The framework includes Conduct CE and Technical Knowledge/Professional Development components. Informational webinars will be held to guide compliance and outline qualifying Professional CE activities.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-10•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has issued a consultation on amendments to the Fees Part of the PRA Rulebook for the 2025/26 fee year, proposing new periodic fee rates and targeted cost allocations. Key changes include a £3.2 million allocation for the Future Banking Data programme, CPI-linked fee increases, and adjustments to minimum fees for certain firms. The consultation outlines a draft £4.0 million surplus for 2024/25 and notes enforcement fines of £33.9 million.
Policy & regulationRules & requirementsRegulatory reporting
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2025-04-10•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced the cessation of Mr. Andrey Stoychev’s accreditation as a Securities Dealer’s Representative for Nexo Markets Ltd, effective 21 March 2025, under the Financial Services Authority Act 2013.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-04-10•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is collaborating with Meta Platforms, Inc. and Facebook Thailand to train businesses on protecting brand assets and intellectual property rights. The program covers Meta community standards, brand protection strategies, and Meta’s Brand Rights Protection tool. This initiative aligns with the SEC Strategic Plan for 2025–2027, focusing on investor protection through enhanced public-private cooperation.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-04-10•United Kingdom•HM Treasury
HM Treasury published a record of a meeting with the Financial Conduct Authority (FCA) on the regulatory perimeter, focusing on balancing regulatory burden and consumer protection. Key developments include legislative progress on Buy-Now-Pay-Later activities and ESG ratings, with further consideration needed for non-financial spread betting and the Consumer Credit Act boundary for SME lending. HM Treasury plans to consult on Consumer Credit Act reforms and respond to the Pensions Investment Review consultation.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-10•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs minority, led by Ranking Member Elizabeth Warren, urged Deputy Attorney General Todd Blanche to reverse DOJ decisions to scale back cryptocurrency investigations and disband the National Cryptocurrency Enforcement Team (NCET). The senators argue that mixers are often used for laundering stolen cryptocurrency and other criminal activities, highlighting NCET's role in prosecuting illicit cases. They express concerns about potential links between DOJ's actions and cryptocurrency ventures involving President Trump and his family.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released Chairman Tim Scott’s remarks urging swift consideration of six nominees for senior roles in the Trump administration and federal financial regulators. Key nominations include Michelle Bowman as Vice Chairman for Supervision at the Federal Reserve and John Hurley as Under Secretary for Terrorism and Financial Crimes at the Treasury. Scott emphasized accountability in bank supervision and priorities in anti-money laundering and counter-terrorist financing.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-10•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) has warned about seven fraudulent companies targeting Swedish consumers with fake investment and loan offers. These entities, including Lendix Finanx and Valbury Capital Group, are not authorised to conduct financial business in Sweden. FI advises consumers to verify authorisation through its company register and warning list.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-04-10•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority (Finansinspektionen) announced that Director General Daniel Barr will leave on 18 June, with Malin Alpen appointed as acting Director General from 19 June. Barr will lead an inquiry into strengthening the Swedish bond market post-departure. The government will begin the search for a permanent successor, with Alpen leading in the interim.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has released a revised 2025–2026 plan for the banking sector, focusing on counter-terrorism, terrorist financing, and financing of weapons of mass destruction proliferation. The plan emphasizes risk reduction, enhanced monitoring, and compliance with anti-money laundering and counter-terrorism laws, requiring institution-level arrangements and coordination with relevant bodies. It replaces the previous plan issued in January 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam convened commercial banks to implement a VND 500 trillion preferential-rate credit programme for infrastructure and digital technology investments. Banks agreed to participate, funding primarily from their own resources while maintaining standard credit conditions and offering support through interest-rate concessions and co-financing. The programme targets priority projects in transport, electricity, and digital technology, with disbursements running until 2030 or until funds are exhausted.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam joined ASEAN dialogues in Kuala Lumpur, focusing on regional payment connectivity, digital transformation, and combating cross-border financial scams. Deputy Governor Nguyen Ngoc Canh emphasized digital payments for SMEs, regulatory harmonization, and cross-border digital infrastructure. Discussions also covered supply chain resilience, banking digitalization, and strong safeguards in capital account liberalization for financial stability.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia found that 16 banks failed to include potential interest rate increases in the total cost of credit (TCC) ranges for subsidised mortgage loans on their websites. The banks have been ordered to align their disclosures with legal requirements, which mandate that TCC be calculated based on maximum possible loan costs.
SupervisionInterventionsDisclosures
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia reported a 5.1% year-on-year increase in cash turnover, totaling RUB 130.1 trillion in 2024. Cash deposits reached RUB 63.6 trillion, while withdrawals amounted to RUB 66.5 trillion, with significant activity in individuals' bank accounts and trade. Moscow led regional cash turnover with RUB 28.2 trillion.
Data & statisticsCurrency and cash management
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia has recommended that investment platform operators enhance website disclosures by publishing investors’ actual returns on matured loans and non-performing loan ratios. Actual returns should include all payments due, while NPL statistics must be categorized by days past due and published within a month after quarter-end.
Policy & regulationGuidance & interpretationCrowdfundingDisclosures
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia announced the programme for its Financial Congress in St Petersburg from 2–4 July 2025. The event will feature 21 panel sessions, including discussions on sustainable economic growth, macroeconomic policy, financial system risks, and digital infrastructure development. Participants include Bank of Russia management, financial institutions, government authorities, and experts.
Policy & regulationImplementation, projects & pilotsMacroprudential policy and toolsMonetary policy decisions and developments
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia's latest Monitoring of Sectoral Financial Flows review indicates continued growth in business activity, with March incoming payments 8.2% above the 2024 Q4 average. Excluding certain sectors, payments rose by 17.1%, with consumer and investment demand sectors showing increases, while public and external demand sectors saw seasonally adjusted declines.
Data & statisticsEconomic data and developments
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2025-04-10•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority (Finanstilsynet) found Carnegie AS in breach of the Market Abuse Regulation for disclosing inside information during a large buy order in Solstad Offshore ASA shares. The breach involved sharing key order terms with shareholders without proper information handling, despite the market being closed. Finanstilsynet did not impose a penalty but emphasized the need for documented assessments and procedures to prevent misuse, noting Carnegie's commitment to improvement.
SupervisionReviews, inspections & stress testsMarket abuse
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2025-04-10•Albania•Bank of Albania
The Bank of Albania and the Albanian Association of Banks have applied to the European Payments Council for Albanian banks to join the SEPA Credit Transfer scheme, targeting cross-border euro transactions by October 2025. The European Payments Council approved Albania's inclusion in SEPA schemes in November 2024, with applications starting in April 2025. The Bank of Albania is facilitating this process by addressing gaps and supporting technical adjustments for cheaper cross-border transactions.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-10•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority fined a company NOK 150,000 for breaching Market Abuse Regulation Article 19 by reporting a securities transaction over four weeks late. The transaction involved selling 9,300 equity certificates by Sandnes Sparebank, exceeding the EUR 5,000 threshold, without timely notification. The penalty considered trade size, delay length, and absence of mitigating factors, highlighting the need for adequate systems.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-04-10•Chile•Chile Financial Market Commission
The Chile Financial Market Commission fined Tanner Corredora de Seguros Limitada and several insurers a total of UF 19,250 for delays and non-compliance in refunding unearned insurance premiums. Tanner was fined UF 10,000 for not ensuring timely UF-adjusted refunds and failing to inform changes of attorneys-in-fact. BCI Seguros Vida, BCI Seguros Generales, Chubb Seguros de Vida Chile, and Chubb Seguros Chile received fines ranging from UF 1,000 to UF 5,000 for similar severe infractions affecting client funds.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-04-10•United States•Federal Reserve Board
The Federal Reserve Board's FEDS Note indicates geopolitical fragmentation is reshaping U.S. outward foreign direct investment (FDI), shifting from China and Hong Kong to Mexico, India, and Vietnam. Using Bureau of Economic Analysis data, it highlights declines in U.S. capital expenditures and employment in China, contrasted with growth in India and Mexico. Despite measurement challenges, the note observes stagnating U.S. exposure to China, with limited reshoring and localization changes by 2022, except in high-tech and advanced manufacturing sectors.
ResearchGeopolitical risk
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2025-04-10•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) released its Annual Priorities for fiscal year 2026, focusing on consolidating dealer rule frameworks and advancing advice-related policy projects. Key initiatives include finalizing a harmonized rulebook, proposed rule changes on proficiency and disclosure, and oversight of crypto-trading platforms. CIRO also aims to enhance efficiency, reduce regulatory burdens, support open banking, and monitor industry trends like AI and DIY investing.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•Thailand•Ministry of Finance (Thailand)
Thailand’s Ministry of Finance reported Deputy Finance Minister Paopoom Rojanasakul’s participation in ASEAN finance meetings, highlighting disaster risk financing and reinsurance as key strategies. The meetings endorsed Malaysia’s ASEAN Chair Priority Economic Deliverables for 2025, focusing on trade, inclusivity, integration, and digital transformation. Thailand emphasized technology's role in regional financial connectivity and its Thailand Financial Hub Initiative.
Policy & regulationCooperationCross-border cooperation