The Mauritius Financial Services Commission announced that eMerchantPay Mauritius Limited has surrendered its Payment Intermediary Services Licence, effective 11 October 2023. The termination is based on sections 28(5) and 28(9) of the Financial Services Act 2007.
The Ukraine National Commission on Securities and Stock Market has updated its public warning list, adding five investment projects deemed high-risk: SIGNUM, IQ Matrix, Oxhey Finance, IQMAXTRADE LTD, and MATERIA LIMITED. The full list is available on the Commission's website under "Protection of Investors’ Rights," along with guidance on identifying dubious investment projects.
De Nederlandsche Bank (DNB) fined Amicorp Netherlands B.V. EUR 530,450 for inadequate customer due diligence under the Act on the Supervision of Trust Offices 2018. The fine was adjusted from a basic amount of EUR 2,500,000 due to Amicorp's previous non-compliance and subsequent corrective measures.
The Dutch Authority for the Financial Markets (AFM) is reviewing financial service providers and investment firms under the 'national regime' due to market growth and increased non-compliance signals. This regime exempts firms from certain MiFID II requirements, allowing them to provide investment advice and transmit orders in investment funds, subject to ongoing compliance with the Wft Exemption Regulation. The AFM will approach selected firms individually, with potential follow-up actions based on review outcomes.
The Central Bank of Latvia has granted AS Sincera Insurance non-life insurance licenses for land vehicles and miscellaneous financial loss insurance. The decision follows a review confirming compliance with Section 21(1) of the Insurance and Reinsurance Law. This authorization increases the number of licensed non-life insurance companies in Latvia to five.
The Central Bank of Latvia's Supervision Committee has granted insurance licenses to AS Sincera Insurance for land vehicles and miscellaneous financial loss insurance. The bank confirmed compliance with Section 21 of the Insurance and Reinsurance Law. Latvia now has five licensed non-life insurance companies.
The Central Bank of Venezuela's Committee for the Evaluation of Merits and Credentials is inviting applications for its Board of Directors from candidates meeting statutory eligibility requirements. Applicants must provide a hard-copy curriculum vitae summary for compliance verification with Article 18 of the Central Bank of Venezuela Law.
The Central Reserve Bank of El Salvador has released the third set of results from the 2024 Population and Housing Census via the BCR Geoportal. The platform offers access to detailed census data, including departmental, municipal, and district-level information, with interactive tools for demographic, social, and economic analysis.
The Central Reserve Bank of El Salvador released results from the Seventh Population Census and Sixth Housing Census, providing updated sociodemographic and territorial data after 17 years. New outputs include an anonymized census database, a geoportal for interactive exploration, and updated urban-rural classifications. Conducted digitally, the census reports a population of 6,029,976 with 70.7% living in urban areas, highlighting efforts to modernize the country's statistical system.
Bank of Italy Deputy Director General Paolo Angelini delivered the opening address at a conference on sustainability in the financial industry, held in collaboration with the Catholic University of the Sacred Heart. The event programme and his remarks are available for download.
The Bank of Italy and Consob have signed a memorandum of understanding to enhance collaboration between the Arbitro Bancario Finanziario and the Arbitro per le Controversie Finanziarie, aiming for improved customer protection. The agreement facilitates information-sharing and coordination to assist customers in identifying the appropriate arbitral body for their complaints.
People's Bank of China Governor Pan Gongsheng met with Bridgewater founder Ray Dalio and Starr Group Chairman Jeffrey Greenberg to discuss global economic and financial conditions and China's macroeconomic policy.
Deputy Governor Paolo Angelini of the Bank of Italy delivered opening remarks at the conference "Sustainability in the financial industry: old models for new scenarios?" in Milan. The event was organized in collaboration with Università Cattolica del Sacro Cuore.
The National Association of Insurance Commissioners unveiled its 2025 strategic roadmap, "Securing Tomorrow: Advancing State-Based Regulation," at its Spring National Meeting, focusing on catastrophe resilience, consumer market strengthening, and rising reinsurance costs. Key initiatives include the National Climate Resilience Strategy for Insurance, cybersecurity frameworks, and enhanced consumer protections. The NAIC also launched the RBC Model Governance Initiative for a comprehensive review of the risk-based capital framework and aims to foster international regulatory partnerships.
The Luxembourg Commission de Surveillance du Secteur Financier released redacted presentation slides from its annual AML/CFT conference for investment firms. The event featured contributions from the Luxembourg Financial Investigations Unit, Commission IRE PSF, and the Luxembourg Bankers’ Association. The materials are accessible in the CSSF’s studies and reports section.
The Bermuda Monetary Authority updated its notice on the prior approval regime for long-term block reinsurance transactions involving life commercial (re)insurers in Classes C, D, and E. The notice clarifies transaction scope, information expectations, and requires prior approval for modifications to existing block transactions. The BMA encourages early engagement and aims for a decision within two to four weeks if documentation is complete.
The National Bank of Ukraine reported allocating nearly UAH 2.7 billion for defense in March 2025 from its special account, with a balance of over UAH 2.1 billion as of 1 April 2025. Since the war began, total receipts have surpassed UAH 66 billion, with over UAH 45.1 billion from foreign remittances. Total allocations have exceeded UAH 64 billion, including significant disbursements to the Ministry of Defense, the Defence Procurement Agency, and the State Service of Special Communication and Information Protection of Ukraine.
Croatia's Ministry of Finance will host the "Support for Sustainable Finance" conference on 4 April 2025 in Zagreb, featuring discussions on sustainable finance and business transformation. The event will include presentations on the European Commission’s Omnibus package and panels on green financial products and alignment with EU sustainability rules. The conference will also introduce a TSI project and plans for a Sustainability Centre.
The Mauritius International Financial Centre reported a meeting between the Minister of Financial Services and Economic Planning and senior International Finance Corporation representatives to discuss cooperation priorities. Topics included capital market development, sustainable finance, and wealth management, aligning with Mauritius' economic planning vision and post-grey list reforms. The meeting also considered Mauritius' participation in the Africa CEO Forum to enhance its profile as an African financial centre.
Sweden's Riksbank published a Staff Memo evaluating AI-based forecasting models for Sweden’s GDP and CPI inflation. The study finds that random forests and neural networks outperform traditional models, with random forests significantly improving CPI inflation forecasts by 10–40% over a random-walk benchmark. The memo highlights that model nonlinearity is crucial for forecast accuracy, particularly for CPI inflation.
Costa Rica's General Superintendence of Insurance reported cases of online banking fraud affecting the Mandatory Complementary Pension Regime and the Labor Capitalization Fund. A disability pensioner lost over CRC 3 million due to a phishing scam. The Judicial Investigation Agency recorded over 22,000 fraud offences since 2020, with internet use being the most common subtype.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Natalia Sharipovna Turgumbayeva's appointment to the Management Board of Shinhan Bank Kazakhstan JSC.
Kazakhstan's Financial Market Agency and National Bank engaged with UAE counterparts to enhance capital markets cooperation and cross-border trading. Discussions covered trading results on Kazakhstan exchanges via UAE's Tabadul platform, regulatory approaches for digital assets, and developing capital market infrastructure, liquidity, investment partnerships, and AI infrastructure.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Bakytzhan Maidanovich Seitkazin as a senior officer in the securities market. His appointment is as a member of an executive body with responsibilities focused on information technology matters.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 0.6% rise in total banking assets to KZT 61.0tn as of March 2025, driven by a 1.1% increase in the loan portfolio. Loans to the economy grew 1.1% to KZT 33.8tn, with retail lending up 1.6% and business lending up 0.2%, while deposits rose 0.1% to KZT 40.4tn. The non-performing loan ratio increased to 3.3%, and capital adequacy ratios were 20.8% (k1) and 22.4% (k2).
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported a 1.0% rise in insurance sector assets to KZT 3.2tn in February 2025, while liabilities increased 1.7% to KZT 2.3tn, and equity fell 0.6% to KZT 955bn. Insurers faced a KZT 3.3bn loss due to a KZT 30.3bn negative foreign-currency revaluation. Insurance contracts rose 40.9% year-on-year to 4.1m, driven by accident insurance, with premiums up 23.8% to KZT 281.7bn year-to-date.
Kazakhstan's Financial Market Agency reported a 0.2% decline in equity market capitalisation to KZT 32.0trn in February 2025, with the KASE index down 0.4% to 5,620.34 points. Equity trading volumes rose 38.1% to KZT 25.9bn, while corporate bond turnover nearly doubled to KZT 200.0bn. Outstanding government debt rose 3.5% to KZT 27.9trn, and government securities turnover increased to KZT 670.5bn.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has drafted a resolution to amend regulatory acts, aligning them with the Law on Legal Acts. The proposal expands internet resources for publishing annual financial statements and introduces a "Debt Securities Buffer" segment on the stock exchange for issuers failing to meet bond coupon interest obligations.
Kazakhstan's Financial Market Agency reported on consumer protection, addressing borrower fraud, loan restructuring, and debt reduction. It reviewed 12,485 appeals, resulting in supervisory measures and administrative sanctions, including KZT 30.9 million in penalties. The update highlighted progress in the mortgage refinancing program, significantly alleviating borrowers' debt burdens.
The Portuguese Securities Commission (CMVM) has published the historical series of the Lisbon Stock Exchange Index from 1900 to 2013 on its website, compiled by researchers from Universidade Nova de Lisboa. This release, part of CMVM's Strategic Plan 2025–2028, aims to enhance research access to capital markets data. CMVM plans to update the series and publish new data as it becomes available.
The OECD's Economic Survey of Israel highlights the economy's resilience post-October 7 attacks, recommending policies to curb inflation, manage fiscal deficits, and address living costs while sustaining growth. GDP growth is projected at 3.4% in 2025 and 5.5% in 2026, with a call for tight monetary policy due to inflation concerns. The Survey advises fiscal discipline, trade barrier reduction, regulatory flexibility for AI growth, and leveraging the carbon tax for decarbonisation.
The Reserve Bank of Australia released a summary of stakeholder feedback from its consultation on the future system for monetary policy implementation, which has informed changes to its open market operations. The RBA received 11 written responses and held follow-up meetings, and it will continue engaging with stakeholders on the system's design.
Resolute Investment Management (Cyprus) Ltd has informed the Cyprus Securities and Exchange Commission (CySEC) of the decision to dissolve and liquidate the Selena Real Estate II investment compartment. CySEC will remove the compartment from the RAIFs’ Register upon completion of the liquidation process and submission of necessary documents, as per the Alternative Investment Funds Law of 2018.
The National Bank of Belgium released its annual climate-related disclosures for non-monetary policy portfolios, aligning with the Task Force on Climate-related Financial Disclosures framework. Key measures include a 50% carbon footprint reduction target by 2030 for European equities and foreign currency corporate bonds, and a shift to an EU climate transition benchmark index. The report integrates Scope 3 emissions into carbon intensity metrics, highlighting data-quality limitations and the use of 2023 year-end data.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Dah Sing Bank, Limited. The HKMA emphasized that banks will not request sensitive personal information or transactions via SMS, email, or embedded hyperlinks. Affected individuals are advised to contact Dah Sing Bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens associated with Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals should contact Chong Hing Bank Limited and report to the Police.
The Hong Kong Monetary Authority (HKMA) issued a warning about fraudulent websites and internet banking login screens linked to DBS Bank (Hong Kong) Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals are advised to contact the bank and report to the Police.
The Hong Kong Monetary Authority (HKMA) issued a public alert about a fraudulent website reported by The Hongkong and Shanghai Banking Corporation 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. It advised affected individuals to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
Turkey's Banking Regulation and Supervision Agency released its Banking Sector Monthly Bulletin for February 2025, detailing financial data submitted by institutions under the Banking Law. This publication aims to enhance transparency and inform the public as part of the agency's supervisory role.
The European Central Bank's Working Paper (No 3048) finds that increased volatility in euro area short-term money market rates weakens the transmission of monetary policy shocks on output and prices. Using data from January 2002 to February 2020, the study shows that higher short-rate volatility reduces the responsiveness of bank lending rates and loan volumes. The paper concludes that maintaining short-rate volatility within reasonable limits supports monetary policy transmission, despite potential trade-offs with money market activity.
European Central Bank President Christine Lagarde, in Dublin, stressed Europe's need for enhanced economic integration and decision-making to tackle geopolitical rivalry and protectionism. She highlighted economic risks from trade headwinds and uncertainty, advocating for integrated capital markets and removing internal Single Market barriers. Lagarde also urged structural changes in decision-making, including more qualified majority voting for collective action.
The National Bank of the Republic of Tajikistan awarded completion certificates for the Climate Transition Programme, emphasizing sustainable finance and climate risk management as priorities for economic stability. Representatives from major banks presented their ESG measures and plans. The central bank highlighted ongoing cooperation with international financial institutions on green initiatives.
The Brazilian Superintendence of Private Insurance (SUSEP) released its 2024 Management Report, detailing developments in insurance, reinsurance, open private pension, and capitalization markets. Highlights include technical provisions reaching BRL 1.8 trillion and sector revenue of BRL 435.6 billion, alongside legal reforms with Law 15.040/2024 and Complementary Law 213. The report marks the start of SUSEP’s 2024–2027 strategic planning cycle and outlines engagement with market participants for supervisory actions.
The Brazilian Superintendence of Private Insurance (SUSEP), led by Superintendent Alessandro Octaviani, participated in the Central Bank of Brazil's 60th-anniversary event, emphasizing institutional cooperation. Octaviani highlighted the central bank's role in economic stability and increasing interactions with SUSEP-supervised firms to enhance confidence, legal certainty, and innovation in financial and insurance markets.
The Central Bank of Liberia used the joint launch of its Financial Education Program and PAPSS rollout to announce nationwide financial literacy and payments adoption efforts. The literacy program follows a study showing 77% of respondents in eight counties had never received financial education, while PAPSS will be promoted through a nine-month awareness campaign targeting banks, traders and border communities. The bank also highlighted strong digital payments growth in 2024, including LRD 471 billion in mobile money transactions and a 17.7% rise in cross-border transactions to USD 494.5 million.
The New York State Department of Financial Services mandates health insurers to collect demographic data to analyze healthcare access disparities. Insurers cannot use this data for discrimination and must regularly attest compliance. The rule applies to insurers licensed in New York, including not-for-profits, health maintenance organizations, and student health plans.
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation and blocking of unauthorised insurance intermediation on three websites in Italy. This action increases the total number of websites targeted by IVASS blocking orders to 225 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers online, by phone, or via instant messaging by consulting its registers and lists.
The New Zealand Financial Markets Authority released its 2024 Financial Advice Providers industry snapshot, detailing data from regulatory returns for the period 1 July 2023 to 30 June 2024. Key findings include a decline in financial advisers since 2021, limited digital advice offerings, significant KiwiSaver provider switches, and the operational importance of outsourcing, with most complaints resolved within three months.
The Brazil Securities Commission (CVM) has ordered GRF Assessoria Ltda. and its sole shareholder, Guilherme Ricardo Fuhr, to halt public offerings of securities intermediation services. The firm used the INVESTINBROKER platform to solicit Brazilian clients without authorization. The suspension was enacted through Declaratory Act CVM 23,225.
The New Zealand Financial Markets Authority has released a consultation document outlining proposed terms of reference for a review of access to financial advice, seeking industry and stakeholder feedback by 30 May 2025.
The New Zealand Financial Markets Authority announced a review of access to financial advice to enhance consumer accessibility and inform a risk-based regulatory approach, alongside publishing analysis from its 2024 regulatory returns questionnaire. The review will explore consumer preferences, industry models, digital advice, and ease of provision, with feedback on draft terms open until 30 May.
The Brazil Securities Commission (CVM) has initiated a survey to assess the adoption of CBPS 01 (IFRS S1) and CBPS 02 (IFRS S2) in Brazil's capital markets. This effort aims to gather feedback from listed companies, investors, auditors, and consultancies to aid CVM's monitoring and support the transition to mandatory reporting. The survey is part of CVM's plan for voluntary adoption of sustainability-related financial reporting under ISSB standards.
The Brazil Securities Commission (CVM) Board rejected a settlement offer from Fertilizantes Heringer S.A. executives in an administrative sanctioning case, despite the Settlement Committee's support. The case involves alleged voting and disclosure failures. Conversely, the Board approved settlements totaling BRL 270,000 with Oceanpact Serviços Marítimos S.A. and two executives to close inquiries related to suspected share trading violations.
The Republic of Serbia Securities Commission held a workshop on the European Markets in Crypto-Assets Regulation (MiCA) to assess Serbia's Law on Digital Assets alignment with MiCA, aiming for full legislative alignment with the EU acquis. Supported by the PLAC IV Project, the workshop included a gap analysis led by Croatian expert Sanja Vojak, highlighting differences between Serbia's legal framework and MiCA. Participants concluded Serbia is not lagging in applying the EU regulatory framework.
The Monetary Authority of Singapore and the Singapore Police Force issued a joint advisory warning of scams involving fraudsters impersonating MAS officials and using the MAS Register of Representatives e-service to deceive victims. Since March 2025, at least three cases have resulted in losses totaling $614,000. The advisory emphasizes that the register is not a list of MAS employees and warns against disclosing personal information or transferring funds to unknown accounts.
The Central Bank of Paraguay said Financiera de Ahorro y Aval SA is not authorized to operate in Paraguay. It also warned that a website linked to the firm’s advertising is not connected to the central bank, contains false information and should not be used to submit personal data. The site has been reported to CERT-PY for removal.
The Guernsey Financial Services Commission (GFSC) added 12 individuals and one entity to the UK consolidated list under the Global Anti-Corruption Sanctions Regulations 2021, imposing an asset freeze in Guernsey. Firms must freeze accounts involving these persons and report to the States of Guernsey Policy & Resources Committee and GFSC. The notice includes names like Alejandro Eduardo Giammattei Falla and the entity Evrazia, with strict prohibitions on providing funds or resources unless permitted by derogation or licence.
The Philippine SEC detailed capital market reforms at the InvestPH 2025 Conference, focusing on market liquidity, transparency, and business facilitation. Initiatives include expedited capital stock processing, streamlined registration, and tax cuts under the proposed Capital Markets Efficiency Promotion Act. The SEC is updating the 2019 Corporate Governance Code and reviewing credit rating agency regulations.
The Philippine SEC's Lipa Extension Office partnered with National University Lipa to boost financial literacy and company registration awareness. This collaboration, under the SEC CAN! program, includes creating educational materials and seminars on investing and investor protection. NU Lipa is the first partner of the Lipa Extension Office, opened in December 2024.
The Philippine SEC issued Memorandum Circular No. 2, Series of 2025, exempting certain funds from the single business group (SBG) investment limit, subjecting them to the single entity limit under Rule 6.8(b) of the Investment Company Act. No fines will be imposed for SBG limit breaches by covered funds from 15 May 2020 to 27 March 2025, but breaches of Rule 6.8(b) will incur penalties. Cross-border Qualifying Collective Investment Schemes must adhere to the 20% SBG limit under ASEAN standards.
The Financial Services Regulatory Authority of Ontario released its April 2025 "FSRA Highlights" newsletter, summarizing key activities and initiatives from the past month. The update encourages feedback and subscription to FSRA's mailing list.
The Monitoring Group, chaired by the International Organization of Securities Commissions, appointed Ryan Wolfe as its new Chair. Wolfe, the Acting Chief Accountant of the U.S. Securities and Exchange Commission, succeeds Paul Munter.
IOSCO released a final report from its Standards Implementation Monitoring review, assessing Regulator Principles 6 and 7 across 55 jurisdictions. The report notes high implementation levels but identifies gaps in systemic risk management and regulatory processes, especially in emerging markets. IOSCO plans to address these gaps by sharing best practices and offering capacity-building support.
The Moroccan Capital Market Authority approved the prospectus for Bel's issuance of 2,403,751 new shares as part of a capital increase for group employees. The offering targets employees of Fromageries Bel Maroc and Société d'Import Export de Produits Fromagers in Morocco, with subscriptions open from 8 to 29 April 2025 at EUR 26.34 per share. The prospectus includes Bel’s 2023 annual report, first half-year 2024 financial report, and key information documents for the FCPE compartments.
The Bank of England's Prudential Regulation Authority fined George Jay Hambro, former non-executive director of Wyelands Bank Plc, GBP 72,000 for breaching Individual Conduct Rule 2. Hambro's conduct from July 2017 to February 2020 fell below expected standards, creating prudential risks related to capital recognition, large exposures, and conflict of interest management. This enforcement action follows previous measures against Wyelands and its executives.
The Global Legal Entity Identifier Foundation (GLEIF) has designated Finema, a Bangkok-based digital identity provider, as the first Southeast Asia-based Qualified verifiable Legal Entity Identifier (vLEI) Issuer, enhancing the vLEI issuance network in the region. This integration aims to support secure verification of organizations, aiding small and medium-sized enterprises in accessing cross-border trade and international finance.
Finansinspektionen has revised its list of surveys intended for insurance companies and occupational pension firms.
The Central Bank of Eswatini mandates payment service providers to shift low-value cross-border electronic funds transfers, under E5 million, from the Southern African Development Community real-time gross settlement system to a retail payment system by 31 March 2027. Effective 31 March 2025, this directive aims to enhance transparency, efficiency, and cost-effectiveness within the Common Monetary Area, comprising Eswatini, Lesotho, Namibia, and South Africa.
The New Brunswick Financial and Consumer Services Commission issued a warning that Bigvst is not registered to deal or advise in securities in New Brunswick. Investors are advised to use the National Registration Search tool to verify registration status.
Norwegian Finanstilsynet reviewed Grieg Seafood ASA’s Q4 2024 interim financial statements, identifying errors and omissions in compliance with IAS 36 Impairment of Assets. The report lacked critical disclosures on impairment drivers and allocation, affecting the understanding of a NOK 1,733 million impairment. Grieg Seafood acknowledged the deficiencies and committed to rectifying them in the 2024 annual financial statements.
The Central Bank of Russia released March 2025 data on maximum interest rates for Russian ruble deposits at the top 10 credit institutions by deposit volume, noting a decline from 20.74% to 20.28% over the month. Average maximum rates by maturity were 19.12% for up to 90 days, 19.59% for 91 to 180 days, 19.54% for 181 days to one year, and 17.68% for over one year. The monitoring excludes special client categories and conditional rates, with results based on indicative data from bank websites.
The Central Bank of Russia has released programme codes for its projection models, enhancing transparency in its macroeconomic modelling framework. The codes cover the Quarterly Projection Model for Russia with the Labour Market Component and the model used by the Bank of Russia Research and Forecasting Department. The bank advises that results from these codes are not its official forecast, which includes expert judgements and informs key rate decisions.
The Bank of Albania's Supervisory Council approved the Financial Stability Statement and Report for H2 2024, noting sustainable banking activity with contained risks. The report highlights expanded deposits and lending, improved profitability, and resilient capitalisation, while urging banks to enhance risk management. All banks met the intermediate MREL target of 18.2% by end-2024, with a capacity of 22.9%, aiming for a final target of 24.9% by 2027.
The Commodity Futures Trading Commission appointed Rahul Varma as Acting Director of its Division of Market Oversight. Varma has been with the CFTC since 2013, contributing to market surveillance and the establishment of the Market Intelligence Branch.
The British Columbia Financial Services Authority (BCFSA) imposed administrative penalties on four real estate licensees for false and misleading advertising under the Real Estate Services Act. Penalties ranged from CAD 4,000 to CAD 6,250 for claims lacking verification, such as unqualified rankings and awards. BCFSA emphasized adherence to its Advertising Guidelines and Consumer Fact Sheet on misleading advertising.
The Securities Commission of the Federation of Bosnia and Herzegovina and the Federal Agency for Confiscated Property Management signed a Memorandum of Mutual Cooperation to enhance coordination on confiscated securities and related enforcement activities. The agreement aims to improve data exchange and operational actions concerning financial investigations and asset management, including securities like shares and bonds, and is tied to Bosnia and Herzegovina's progress towards European Union accession.
The SEC's Office of Investor Education and Advocacy is launching a National Financial Literacy Month campaign in April to promote investing for financial goals and capital formation. The initiative includes free resources on Investor.gov, the "Ten Investment Tips for 2025 Investor Bulletin," and outreach activities targeting diverse groups, including students, older investors, and military service members.
The China Banking and Insurance Regulatory Commission and several ministries have revised work safety liability insurance measures, mandating coverage for high-risk sectors and enhancing product terms, pricing, and accident-prevention services. The national minimum liability limit for production safety accidents is raised to CNY 400,000 per person, requiring coverage for all workers, including temporary hires. Insurers must follow standard policy wording and pricing guidelines, with a budget for accident-prevention services capped at 21% of premiums.
The National Bank of Moldova reported on Governor Anca Dragu’s meeting with France’s ambassador, focusing on macroeconomic issues, bilateral cooperation, and Moldova’s European integration. The update emphasized aligning Moldova’s legislative framework with EU standards and highlighted intensified cooperation with the Banque de France, including technical assistance on cash management and IT infrastructure modernization. France is willing to expand bilateral cooperation.
FinCEN hosted a public-private partnership event in Washington, D.C., with 16 global financial institutions and federal law enforcement to address Iran's access to the global financial system. Part of the "Iran Maximum Pressure and Counter Terrorism" (IMPACT) Exchange series, it focused on Iran's oil trade and "shadow banking" networks. Discussions aimed to enhance understanding of US sanctions compliance and identify sanctions evasion typologies.
The National Bank of Denmark reported a DKK 1.2 billion decrease in the foreign-exchange reserve to DKK 655.9 billion in March 2025, driven by net foreign-exchange sales and government debt repayment. The central government's net financing requirement was DKK -47.4 billion, with banks' net position falling by DKK 40.1 billion due to government liquidity impacts. Policy rates remained unchanged since 7 March 2025, with a balance-sheet total of DKK 749.5 billion.
The Pensions Regulator (TPR) has introduced a new framework to supervise professional trustee firms, enhancing its risk-based regulatory approach to protect pension savers. This follows evidence from 11 major trustee firms, revealing diverse business models and a rise in professional trustees, with 10 firms managing over GBP 1 trillion in retirement income. TPR's Market Oversight team will establish supervisory relationships with these firms, identifying risks in areas such as employer relationships and remuneration models.
Treasury Secretary Scott Bessent outlined a renewed "Maximum Pressure" strategy on Iran, focusing on sanctions and public-private information sharing to disrupt sanctions evasion and terrorism financing. The strategy targets Iran's oil supply chain to cut off revenues supporting its nuclear and missile programs and proxies. Additionally, Treasury highlighted efforts against money laundering linked to Mexico-based cartels and human trafficking.
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) hosted a public-private event in Washington, D.C. with financial institutions and federal law enforcement to address Iran's global financial access. The "Iran Maximum Pressure and Counter Terrorism" (IMPACT) Exchange series focuses on Iran's oil and shadow banking networks and U.S. sanctions compliance. This initiative supports National Security Presidential Memorandum-2 and is part of the FinCEN Exchange, established in 2017 and codified in the Anti-Money Laundering Act of 2020.
The Single Resolution Board (SRB) has launched a public consultation on its Expectations on Valuation Capabilities, detailing how banks should prepare data for resolution valuation. The initiative emphasizes the importance of valuations in crisis resolution and introduces a Valuation Data Index, Data Repositories for Resolution, and valuation playbooks. The SRB may deviate from these expectations during a crisis, subject to legal frameworks.
The European Insurance and Occupational Pensions Authority (EIOPA) launched its "Occasional Research Papers" series, with the inaugural paper analyzing European insurers' and banks' fixed-income portfolio allocations. The study identifies "domestic projection bias" and "going native bias" as frictions not explained by traditional factors, impacting efforts to integrate European capital markets. The series combines EIOPA's expertise with external research, utilizing Solvency II and IORP II data.
Deputy Governor Michelle Doyle of the Central Bank of Barbados is participating in the Joint International Monetary Fund and Banco Central del Ecuador Regional Central Bank Governance Forum in Quito, Ecuador, from 2 to 4 April 2025. Doyle will be a panellist in a session on executive management structures and challenges in central banks, discussing regional models and governance challenges with other key figures.
The Croatian National Bank hosted a Regional Governors’ Meeting in Osijek, focusing on inflation and payment technologies. Discussions included the inflation outlook, efficient payment systems in the EU, and the digital euro project. Governor Boris Vujčić highlighted inflation risks in Croatia and advocated for modernizing payment infrastructure to align with EU standards.
The Angola Capital Markets Commission issued an alert regarding "finfluencers" who disseminate financial content via social media, warning of potential risks due to insufficient quality and neutrality. Investors are advised to verify finfluencer information against official sources and be cautious of unrealistic promises. The Commission emphasizes that finfluencers are not registered securities investment advisers.
The European Securities and Markets Authority (ESMA) has released its first code package on GitHub to enhance access to its data, including tools for searching and downloading data from public registers. This complements ESMA's interactive dashboards, which use Market in Financial Instruments Directive data to improve data visualization and usability. These initiatives support ESMA's Data Strategy 2023–2028, aiming to provide market information in machine-readable form.
The Hong Kong Insurance Authority issued a public alert regarding a phishing email and fraudulent website impersonating AIA International Limited to steal personal or payment information. The phishing email originates from "info@ala-hk[.]site" and links to "hxxps://ala-hk[.]site/". AIA confirmed no connection to these and the case is under investigation by the Hong Kong Police Force.
Panama's Superintendency of Banks reported a 7.7% year-on-year growth in the International Banking Center’s net loan portfolio, reaching USD 95,663 million, driven by geographic diversification and improved delinquency indicators. External lending rose 12.3% to USD 33,268 million, while domestic lending increased 5.4% to USD 62,395 million, highlighting the need for risk monitoring. Total assets grew 4.1% to USD 155,707 million, with liquidity and solvency ratios exceeding regulatory minimums.
The Danish Financial Supervisory Authority announced board changes with Anne Marie Jess Hansen joining as a new member, replacing Martin Tvede Zachariasen. Hansen, CEO of the CBS Executive Foundation, begins her three-year term on 1 April 2025. Marianne Rørslev Bock and Carsten Nøddebo Rasmussen have been reappointed for additional three-year terms.
The Central Bank of Montenegro's Governor Irena Radovic participated in a regional meeting of central bank governors in Osijek, discussing inflation dynamics and payment system modernisation. Radovic noted Montenegro's gradual inflation slowdown, with risks from geopolitical uncertainty and market imbalances, and highlighted efforts in SEPA integration and a TIPS clone project to enhance payment efficiency and financial inclusion.
The Central Bank of Montenegro has transitioned to ISO 20022 for international payment transactions, replacing the SWIFT MT messaging format as part of a broader payment system modernization. This change enhances data richness, processing speed, security, and transaction transparency. The bank plans to extend ISO 20022 to domestic transactions to further align with European standards.
The Belgium Financial Services and Markets Authority suspended trading in Greenyard’s financial instruments on Euronext Brussels at the company's request from 1 April 2025 at 15:10 CET until a press release is issued.
The Reserve Bank of India issued a revised master circular on agency commission for banks managing Central and State government business, consolidating instructions up to March 31, 2025. It outlines eligible transactions, operational requirements, and penalties for incorrect claims, with commission rates unchanged since July 1, 2019. The circular specifies reporting protocols for GST, ICEGATE, and direct tax collections, emphasizing timely submissions and penalties for late reporting.
The Reserve Bank of India released an updated master circular on the board of directors for primary (urban) co-operative banks, consolidating and updating previous instructions and guidelines. This new circular supersedes the one issued on April 1, 2024, and is directed to the managing directors and CEOs of these banks.
The Reserve Bank of India issued an updated master circular on Basel III capital regulations, consolidating prudential guidelines on capital adequacy for scheduled commercial banks, excluding small finance, payments, and regional rural banks. It incorporates Basel III guidelines issued to date, with Annex 26 listing the consolidated circulars. Small finance and payments banks should refer to their specific licensing and operating guidelines for capital adequacy.
The Reserve Bank of India released a revised master circular on prudential norms for capital adequacy for all Primary (Urban) Co-operative Banks. This circular consolidates and updates instructions and guidelines up to March 31, 2025, superseding the previous compilation from April 1, 2024.