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2025-03-10•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) has initiated enforcement proceedings against Emerge Canada Inc., its directors, officers, and Independent Review Committee members for alleged Ontario securities law violations. The OSC claims Emerge engaged in self-dealing loans totaling CAD 6 million, breaching investor duties and lacking proper controls. The proceedings follow collaborative efforts across OSC's Registrations, Inspections, Examinations, Investment Management, and Enforcement divisions.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-03-10•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released its February 2025 periodical issue 189, detailing its regulatory, supervisory, and institutional activities. The publication also aims to assist consumers and investors in understanding the markets under its supervision.
Other
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2025-03-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia (BNM) reports ongoing interest in Digital Insurers and Takaful Operators (DITO) licences, with applications open until December 2026. The initiative aims to address insurance protection gaps and enhance digital consumer services. Prospective applicants must consult BNM and adhere to its Policy Document on the Licensing and Regulatory Framework for DITOs.
Policy & regulationRules & requirementsLicence approval
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2025-03-10•Global•United Nations Environment Programme Finance Initiative
The UNEP FI released a policy brief comparing sustainable finance taxonomies of five ASEAN Member States with the regional ASEAN Taxonomy, noting increased harmonization. The brief highlights alignment in environmental objectives and sector prioritization, with variations in assessment approaches and national priorities. UNEP FI anticipates further evolution through updates, transparency, and regional collaboration, offering insights for ASEAN states yet to develop taxonomies.
Policy & regulationInternational standards & recommendationsGreen taxonomy
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2025-03-10•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) launched a global campaign to boost voluntary nature-related reporting aligned with its recommendations, targeting COP30 in Belém, Brazil. By March 2025, TNFD reported over 530 adopters and commitments from over 500 companies and financial institutions across 54 countries, representing significant market capitalisation and assets under management. TNFD emphasized the need for capability-building support and alignment with the Global Biodiversity Framework.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-10•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority mandates that insurers engage only with agents registered with the Insurance Agents Association of Uganda (IAAU), citing Sections 82(1)(c) and 84(2) of the Insurance Act, Cap. 191. From 31 March 2025, all insurance agents must register with the IAAU and provide proof of subscription for new licences, renewals, and compliance certifications, with enforcement for non-compliance thereafter.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-03-10•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs reintroduced the updated Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act to establish a regulatory framework for U.S. dollar-denominated payment stablecoins. The bill outlines licensing procedures, reserve requirements, and regulatory standards, applying federal frameworks for issuers over USD 10 billion and allowing state regulation for smaller issuers. A vote on the GENIUS Act is scheduled for March 13, 2025.
Policy & regulationRules & requirementsStablecoins
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2025-03-10•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) released its annual report on money laundering risks and 2025 supervisory priorities. It will focus on sectors vulnerable to misuse, like crypto-asset trading and correspondent banking, and on smaller and mid-sized banks. The authority will also assess compliance with international sanctions and preventive measures against terrorist financing.
SupervisionSupervision approach, priorities & toolkitAML and CFT
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2025-03-10•Sweden•Finansinspektionen
Sweden's Finansinspektionen is investigating QB Europe AB (Quickbit) for compliance with anti-money laundering requirements, focusing on risk assessment and customer due diligence. The review aligns with the authority's priority on money laundering risks, particularly in crypto-asset trading, which is considered high-risk due to potential anonymity.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-03-10•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway reviewed BlueNord ASA’s 2023 financial statements, noting a lack of climate-related disclosures and shortcomings in decommissioning obligations reporting. BlueNord committed to addressing these issues in future reports, including a dedicated climate-related risks note and improved alignment of TCFD and Sustainability Report disclosures. The authority accepted these commitments and closed the matter, while highlighting incomplete IFRS 7 maturity analysis, which it deemed not proportionate to correct for 2023.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-03-10•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2024 Shared National Credit Program Report, noting moderate credit risk in large syndicated bank loans but weakened credit quality due to higher interest rates and compressed margins. The report highlights that 2025 risk levels will depend on borrowers' interest expense management, real estate conditions, and macroeconomic factors. The SNC portfolio, covering USD 6.5 trillion in commitments, saw "non-pass" commitments rise to 9.1%, with leveraged loans comprising nearly half of commitments and 79% of non-pass loans.
SupervisionRisk monitoring & watch pointsCredit riskAsset quality
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2025-03-10•Russia•Central Bank of Russia
The Central Bank of Russia's review of project finance in housing construction for Q4 2024 shows a 2% growth in banks' property development loan portfolios, down from 9% in the previous quarter. Escrow account balances decreased by 8% to RUB 6.4 trillion, with coverage of outstanding development loans dropping to 72%. The average rate on property development loans rose to 9.4% per annum amid higher market interest rates.
Data & statisticsLending
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2025-03-10•United States•Federal Reserve Board
The Federal Reserve Board and other federal banking regulatory agencies released the 2024 Shared National Credit report, indicating moderate credit risk in large syndicated bank loans despite weakening credit quality trends. This deterioration is attributed to higher interest rates affecting leveraged borrowers and compressed operating margins in certain sectors. The SNC portfolio, covering loans of USD 100 million or more, showed a 1.8% increase in commitments to USD 6.5 trillion, with non-pass loans rising to 9.1% of total commitments.
SupervisionRisk monitoring & watch pointsCredit riskAsset quality
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2025-03-10•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) issued a consent order imposing a CAD 35,000 penalty on HYI Finance Inc. and its director Andrew Yau for unregistered mortgage brokerage activities. They are also required to pay CAD 3,500 in investigation costs and must cease operations until registered. The order, under the Mortgage Brokers Act, highlights no prior disciplinary history for the respondents.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-03-10•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted a delegation from the Central Bank of West African States to showcase its advanced banknote printing house in the New Administrative Capital. The visit aimed to share Egypt's expertise as BCEAO considers establishing its own printing facility. The delegation reviewed the production cycle, security systems, and quality control measures.
Policy & regulationCooperationDomestic cooperation
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2025-03-10•Egypt•Central Bank of Egypt
The Central Bank of Egypt reported a significant decrease in annual inflation for February 2025, with urban headline CPI inflation dropping to 12.8% from 24.0% in January, and core CPI inflation falling to 10.0% from 22.6%. Month-on-month, urban headline CPI inflation was 1.4%, slightly down from 1.5% in January.
Data & statisticsEconomic data and developments
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2025-03-10•United States•U.S. Securities & Exchange Commission
U.S. SEC Acting Chairman Mark T. Uyeda has directed staff to re-engage with the Treasury, Federal Reserve, and market participants on potential regulatory changes for alternative trading systems trading government securities. Uyeda highlighted contrasts between a 2020 proposal and a 2022 re-proposal on expanding the exchange definition, which drew negative feedback. He also addressed the SEC’s Treasury central clearing mandate, noting extended deadlines and the need for clarity on extraterritorial scope and coordination with global regulators.
Policy & regulationRules & requirementsTradingMarket infrastructure
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2025-03-10•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2024 Shared National Credit Program Report, indicating moderate credit risk in large syndicated bank loans but noting weakening credit quality trends due to higher interest rates. The report reviewed USD 6.5 trillion in commitments, with "non-pass" commitments rising to 9.1% and leveraged loans comprising 79%. The agencies highlighted that 2025 risk levels will depend on borrowers' management of interest expenses and macroeconomic conditions.
SupervisionRisk monitoring & watch pointsCredit riskAsset quality
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2025-03-10•Asia•Asia/Pacific Group on Money Laundering (APG)
The Asia/Pacific Group on Money Laundering has issued a non-binding factsheet on proliferation financing risks in shipping registries to support members' fourth round mutual evaluation preparation. It explains that FATF standards and targeted financial sanctions obligations apply to vessel registration and flagging, and outlines controls such as sanctions screening, ownership checks and follow-up investigation. APG also urges members to review whether their counter-proliferation financing measures are adequate for these risks.
Policy & regulationGuidance & interpretationAML and CFT
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2025-03-10•India•Securities & Exchange Board of India
The Securities and Exchange Board of India, in partnership with the National Institute of Securities Markets, has introduced the AML and CFT Provisions in Securities Market Certification Examination to establish a knowledge benchmark for securities market intermediaries. The course covers anti-money laundering and combating the financing of terrorism concepts, including provisions under the Prevention of Money Laundering Act and SEBI Act.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-03-10•Barbados•Central Bank of Barbados
The Central Bank of Barbados has launched its 2024 Balance of Payments Survey to gather data on transactions between Barbados residents and external parties for balance of payments statistics and economic policy formulation. The Bank reported a 91% response rate last year and urged recipients to participate, offering guidance from trained officers.
Data & statisticsBalance of payments and other external statistics
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2025-03-10•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde has initiated an online survey to map the country's fintech ecosystem, aiming to inform its regulatory approach to digital innovation in financial services. The survey targets both financial-sector entities and fintech solution developers, including institutions like Sociedade Interbancária e Sistemas de Pagamentos and the Cape Verde Stock Exchange.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-03-09•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) marked the graduation of 68 participants from its Cyber Anti-Fraud Program, a three-month training at Cambridge University. This initiative, part of SAMA's effort to enhance domestic cyber threat capabilities, involved participants from SAMA, local banks, digital banks, and electronic wallet institutions. The training emphasized SAMA’s Counter-Fraud Framework, addressing fraud methods, risks, and prevention strategies.
Institutional developmentCooperation & capacity buildingCapacity building
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2025-03-09•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) celebrated the graduation of 68 participants from its Cyber Anti-Fraud Program, a three-month training at Cambridge University. This initiative aims to enhance domestic capabilities against cyber threats, involving SAMA staff, local banks, digital banks, and electronic wallet institutions. The program focused on SAMA’s Counter-Fraud Framework, covering governance, counter, monitoring, and response strategies.
Institutional developmentCooperation & capacity buildingCapacity building
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2025-03-09•Qatar•Qatar Central Bank
The Qatar Central Bank announced that Governor H.E. Sheikh Bandar bin Saoud Al Thani met with Samir Assaf, Senior Advisor to HSBC’s Group Chairman and Group CEO, to discuss recent global banking and finance developments.
OtherCross-border cooperation
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2025-03-09•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has set a deadline of 18 April 2025 for exchanging Kuwaiti banknotes from the fifth issue, after which requests will be disregarded. Exchanges must occur at the Central Bank's Banking Hall during official hours, in accordance with Article 10 of Law No. 32 of 1968 and Resolution No. 37/405/2015.
Policy & regulationRules & requirementsCurrency and cash management
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2025-03-09•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has set 18 April 2025 as the final deadline for exchanging banknotes from Kuwait’s fifth issue, requiring holders to exchange them in person at the Central Bank of Kuwait Banking Hall during official hours. Exchanges necessitate documentation, and no requests will be accepted after the deadline, as per Resolution No. (37/405/2015).
Policy & regulationRules & requirementsCurrency and cash management
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2025-03-09•Oman•Oman Financial Services Authority
The Oman Financial Services Authority released 2024 consumer-protection statistics, noting 22,544 requests, including 19,665 inquiries, 164 whistleblowing reports, and 2,627 insurance complaints. The data also includes complaints against public joint-stock companies, securities companies, and the authority itself. An online Consumer Protection Statistics page offers real-time updates on complaint resolutions.
Data & statisticsConsumer and investor protection
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2025-03-09•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) has streamlined its organisation, reducing units from 25 to 20 and cutting 52 units overall, effective 1 March 2025. The reorganisation led to significant reductions in departments and leadership positions, with 653 staff opting for early retirement or departure. The update was announced at a ceremony recognising affected units and commending early retirees.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-03-09•Egypt•Central Bank of Egypt
Central Bank of Egypt Governor Hassan Abdalla led Egypt's delegation at the G20 Finance Ministers and Central Bank Governors meeting in South Africa, emphasizing multilateral development finance, cross-border payment settlement, and climate-related financing. Abdalla advocated for dialogue with credit rating agencies and using technology for secure cross-border payments. Deputy Governor Rami Abulnaga participated in G20 and BRICS meetings, focusing on central bank issues under Brazil's BRICS presidency.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-03-08•Barbados•Central Bank of Barbados
The Central Bank of Barbados stressed incorporating women's perspectives in economic analysis, noting their roles in households, entrepreneurship, and leadership. Deputy Governor Michelle Doyle highlighted women's underrepresentation in economics, with only 13% of central banks led by women, and advocated for greater diversity in decision-making roles. She also addressed challenges like work-life balance and social expectations affecting women's professional advancement.
OtherDiversity and inclusion
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2025-03-07•United States•Federal Reserve Board
The Federal Reserve Board released a research paper evaluating the demographic representativeness of U.S. state border counties compared to nonborder counties, crucial for border-county difference-in-difference policy evaluations. The study reveals demographic disparities, such as higher proportions of White, older, and disabled populations in border counties, potentially affecting policy effect estimates. It emphasizes the importance of robustness checks and demographic considerations in border-based research designs.
ResearchOther
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2025-03-07•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced a mandatory cash takeover bid by Alyrick BV for Smartphoto Group NV. The press release is accessible exclusively on its French or Dutch website.
SupervisionAuthorisations & approvalsOther
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2025-03-07•Türkiye•Central Bank of Türkiye
The Central Bank of Türkiye is calling for research papers for a special issue of Central Bank Review focused on "Inflation Dynamics: Market Structures, Pricing Behaviors, and Expectations". This peer-reviewed issue aims to present theoretical and empirical research pertinent to central banks and policymakers.
Research
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2025-03-07•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the Board of the Kosovo Pension Savings Fund (FKPK) discussed strengthening regulatory and supervisory arrangements for the pension sector. Key topics included FKPK's investment strategy, legislative and governance changes, and the need for ongoing cooperation to protect contributors' interests. The central bank also highlighted financial sector reforms and initiatives related to inclusion and education.
Policy & regulationCooperationDomestic cooperation
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2025-03-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission issued guidance for Cyclone Alfred victims on safety, insurance claims, financial aid, and scam avoidance. It advises following emergency services, documenting damage, consulting insurers before repairs, and keeping receipts. Early contact with insurers is crucial due to potential delays. Check bank statements or use the Insurance Council's hotline if insurer details are forgotten. ASIC warns against scams involving "free inspections" or upfront payments and suggests Moneysmart for crisis support and financial counseling.
Policy & regulationGuidance & interpretationOther
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2025-03-07•Colombia•Superintendencia Financiera de Colombia
The Superintendencia Financiera de Colombia, with the Superintendence of Companies and the Superintendence of Industry and Commerce, conducted the "Me informo y cuido mi dinero" campaign in Medellín to educate consumers on avoiding unauthorised fundraising and adopting safer online credit practices. The campaign highlighted risks of high-return promises and advised verifying online loan providers and app sources. Sessions were held at local universities and the Chamber of Commerce, with senior delegates engaging in media interviews to extend the campaign's reach.
Financial literacy & educationUnlicensed or unauthorized activity
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2025-03-07•Serbia•Ministry of Finance (Serbia)
Serbia's Ministry of Finance, led by First Deputy Prime Minister and Finance Minister Sinisa Mali, announced initiatives to develop the domestic capital market, focusing on corporate bond issuance and market infrastructure upgrades. Key measures include state support for bond issuance, consolidation of financial entities at Prokop business park, and digital enhancements like a new trading platform and information system by mid-2025. These efforts align with Serbia's investment-grade credit rating and favorable economic indicators, with World Bank support noted.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-03-07•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has issued tender notice 03/2025 for minting, packaging, and delivering Cyprus circulation euro coins, including commemorative coins. The contract will be awarded through an open procedure based on the lowest price criterion. Tender documents are available electronically from 7 March 2025.
Institutional developmentProcurement
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2025-03-07•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority featured an interview with Professor Olivija Drinčić on its “Kapital” financial education workshops for children, part of the 2023–2027 Programme for the Development of Financial Education. Now in their third iteration, the workshops use interactive activities and a board game competition to teach basic finance and capital market concepts. Drinčić highlighted strong student engagement and proposed further educational activities, following her pupils' success in a previous competition.
Financial literacy & educationFinancial literacy and education
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2025-03-07•Europe•European Securities and Markets Authority
The European Supervisory Authorities (ESAs) endorsed the European Commission's amendments to the draft Regulatory Technical Standard (RTS) on subcontracting under the Digital Operational Resilience Act (DORA), following its rejection for exceeding DORA's mandate. The ESAs confirmed the amendments align the RTS with DORA's powers and urged the Commission to finalize its adoption promptly.
Policy & regulationGuidance & interpretationOutsourcing and third-party risk management
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2025-03-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has indicted Antonio Stella on two counts of insider trading related to Cann Group Limited shares. Stella allegedly sold 2,561,286 shares in July 2021 while possessing inside information about a share placement, then reacquired 2,090,909 shares at a lower price, resulting in a profit of AUD 204,490.90 and loss avoidance of AUD 20,986.34. The Commonwealth Director of Public Prosecutions is prosecuting, with a plea hearing in the County Court of Victoria on 1 October 2025.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-03-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has imposed a seven-year ban on former financial adviser Harris John Kohu Shortland, following his conviction for cocaine-related offences. Effective from 4 March 2025, the ban prohibits Shortland from providing financial services or engaging in any financial services business activities. His firm, HJ Shortland & Co Wealth Management Pty Ltd, had its licence suspended in 2022 and cancelled in 2024. Shortland may seek a review of ASIC's decision by the Administrative Review Tribunal.
EnforcementSanctions & designationsFitness and propriety
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2025-03-07•Kenya•Central Bank of Kenya
The Central Bank of Kenya's survey on AI in banking highlights adoption, use cases, and governance. The report shows significant AI usage with uneven maturity and strategy gaps, noting the Central Bank's development of AI guidance. Key applications include credit risk assessment, cybersecurity, and customer service, with data quality and governance as primary risks.
ResearchArtificial intelligence
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2025-03-07•Nigeria•Ministry of Finance (Nigeria)
Nigeria's Ministry of Finance aims to remove the country from the FATF grey list by Q2 2025 by addressing deficiencies in its anti-money laundering and counter-terrorist financing regime. The government has directed agencies to meet FATF requirements, emphasizing transparency and cooperation. Successful removal is linked to enhanced international and investor confidence in Nigeria's financial system.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-03-07•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) has initiated Public Consultation No. 02/2025 on a draft regulatory standard to establish minimum share capital and financial structure requirements for insurance and reinsurance intermediaries. This proposal supports Law No. 6/24 and aims to enhance financial stability and confidence in Angola's insurance market. ARSEG will review consultation feedback before finalizing the regulation.
Policy & regulationRules & requirementsLicensing framework and process
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2025-03-07•China•Central Bank of the Republic of China
Deputy Governors of the People's Bank of China and the National Bank of Kazakhstan co-chaired the 13th financial cooperation sub-committee meeting, focusing on bilateral local-currency cooperation, payments, and trade financing. They reached broad consensus and signed the meeting minutes.
Policy & regulationCooperationCross-border cooperation
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2025-03-07•China•Central Bank of the Republic of China
The People's Bank of China held its 2025 financial rule-of-law conference, reviewing 2024 achievements and setting 2025 priorities. Key focuses include enhancing the financial legal framework, revising the People's Bank of China Law, and supporting the Financial Stability Law deliberations. The agenda also aims to refine governance, improve enforcement standards, and expand legal education and talent development.
Policy & regulationReform agendas & priorities
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2025-03-07•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reviewed 2024's statistical achievements and set 2025 priorities at a televised conference. Key focuses include enhancing the financial "five major articles" statistics, improving local government debt monitoring, and refining sub-sector statistical regimes. The agenda aims to bolster macroeconomic policy support and risk prevention through comprehensive data analysis and quality controls.
Data & statisticsRegulatory reportingSupervisory data
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2025-03-07•Mexico•Central Bank of Mexico
The Central Bank of Mexico announced that the Technical Committee of the Pension Fund for Wellbeing approved quarterly reports for October–December 2024 and amended the fund’s Operating Rules and Investment Regime. Changes aim to support the fund's objectives and diversify its investment portfolio. Documentation from the session is being made publicly available.
Policy & regulationRules & requirementsOther
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2025-03-07•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has amended Rule 14 of the Insurance Account Rules to align with IFRS 17, allowing eligible commercial insurers to use updated schedules for 2024 year-end reporting. This change applies to insurers reporting under IFRS, while those using GAAP or submitting complete financial statements remain unaffected.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-03-07•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) reviewed liquidity risk management among wholesale trading sell-side firms under the Investment Firms Prudential Regime. It found deficiencies in some firms' frameworks, particularly in addressing idiosyncratic risks and contingency planning. The FCA has taken supervisory actions, including Individual Liquidity Guidance and required attestations, and will continue engaging with firms to promote best practices without altering existing MIFIDPRU requirements.
SupervisionReviews, inspections & stress testsLiquidity risk
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2025-03-07•Ukraine•National Bank of Ukraine
Arsen Makarchuk has resigned as Director of the Strategy and Development Department at the National Bank of Ukraine (NBU). The NBU will seek a successor to oversee the Financial Sector Development Strategy, strategic analysis, and corporate governance improvements. The department, part of the General Bloc, is under the supervision of NBU Governor Andriy Pyshnyy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-07•Laos•Bank of the Lao
The Bank of the Lao hosted an event on its anti-corruption and anti-money laundering inspections, coinciding with International Anti-Corruption Day. Co-chaired by senior officials from the Bank of the Lao and the State Inspection Authority, the session aimed to reinforce Lao PDR’s commitment to the United Nations Convention against Corruption and train banking officials on corruption prevention and enforcement.
SupervisionCooperationOther
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2025-03-07•United States•Financial Industry Regulatory Authority
FINRA fined Robinhood Financial and Robinhood Securities USD 26 million and ordered USD 3.75 million in restitution for rule violations, including inadequate supervisory systems and ignoring misconduct red flags. Violations involved customer disclosures, anti-money laundering controls, technology supervision, and regulatory reporting. The firms settled without admitting or denying charges and agreed to certify remediation.
EnforcementInvestigations & enforcement actionsComplianceDisclosures
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2025-03-07•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) published research on firms' treatment of customers in vulnerable circumstances, revealing that only 42% disclose their situations to financial services providers. Vulnerable customers reported more negative experiences than non-vulnerable ones, but those who disclosed generally had better interactions. Reasons for non-disclosure included embarrassment, fear of differential treatment, and security concerns.
ResearchConsumer and investor protection
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2025-03-07•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 Kazakhstan has amended its framework for reporting by liquidation commissions of banks and branches of nonresident banks undergoing liquidation. Key changes include a unified submission deadline, updated reporting templates, and the removal of off-balance sheet account reports. Additionally, the report on a liquidating bank’s property is divided to enhance oversight of leasing activities.
Policy & regulationRules & requirementsRegulatory reporting
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2025-03-07•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 Kazakhstan joined the KASE "Ring the Bell for ALL Women and Girls" event, promoting gender equality and women's economic participation. Asel Amirbayeva highlighted women's leadership in Kazakhstan's financial sector and SMEs, crediting entrepreneurship support programs. The Agency plans to enhance women's access to finance by implementing environmental, social, and governance principles.
OtherDiversity and inclusion
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2025-03-07•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) has joined the National CSIRT Network, a collaborative platform of over 60 entities focused on cyber threat management. This integration aims to enhance CMVM's information security processes and foster collaboration with other specialized teams.
Institutional developmentCooperation & capacity buildingCyber resilience
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2025-03-07•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that the Supreme Constitutional Court overturned the Administrative Court's decision upholding an EUR 80,000 fine against Constantinou Bros Hotels Plc for violating Article 130 of the Cyprus Securities and Stock Exchange Law. The Supreme Court found the initial ruling unjustified for not addressing a specific appeal ground and ordered a re-trial. The case will return to the Administrative Court for further proceedings.
EnforcementInvestigations & enforcement actions
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2025-03-07•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that the Administrative Court annulled its 2014 decision to fine Constantinou Bros Hotels Plc €80,000 for breaching Article 130 of the Cyprus Securities and Stock Exchange Law. The court found that Article 130, incorporating Article 65(1) of Directive 2001/34/EC, was irrelevant to the violation, as it pertains only to information obligations to security holders.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-03-07•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance announced that Minister Riikka Purra will attend the EU Economic and Financial Affairs Council in Brussels to discuss simplifying EU rules for competitiveness and investment. The agenda includes sustainability reporting, corporate responsibility, and sanctions against Russia. Under-Secretary Leena Mörttinen will represent Finland in the Eurogroup on euro area economic developments and crypto-asset markets.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-03-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to China Construction Bank (Asia) Corporation Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA emphasized that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information through such means. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a decrease in Hong Kong's foreign currency reserve assets to USD 416.4 billion at the end of February 2025, down from USD 421.5 billion in January. Including unsettled foreign exchange contracts, the reserves totalled USD 415.9 billion. The HKMA also outlined its monthly Exchange Fund data release schedule, with upcoming releases on 14 and 31 March 2025.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to 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.
SupervisionAlertsFraud and scams
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2025-03-07•Europe•European Central Bank
Banking, payments, and merchant associations gave feedback to the European Central Bank's Euro Retail Payments Board on integrating the digital euro, highlighting concerns over high costs for providers and merchants. They urged maximum reuse of existing infrastructure, clearer remuneration, and a staggered rollout focusing on simple digital use cases. Merchants emphasized technology-neutral requirements and lower fees, with some advocating for removing inter-PSP fees and aligning liability with digital euro intermediaries.
Policy & regulationCooperationCBDC
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2025-03-07•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) reported a 9.3% decline in consumer complaints in Querétaro for 2024, with MXN 35.6 million recovered, a 52.8% increase from 2023. Credit cards, special credit reports, and basic accounts were the most complained-about products, with commercial banks accounting for 60.1% of complaints. CONDUSEF emphasized its services are free and accessible online, cautioning users against fraudulent fee requests.
Data & statisticsComplaints and dispute resolution
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2025-03-07•Europe•European Central Bank
The European Central Bank's analysis of euro area labour markets reveals a narrowing gender earnings gap, decreasing from 50% in 2005 to 35% in 2023, though progress has slowed. Key factors include reduced employment rate and part-time work gaps, with persistent unexplained pay differences in some regions. The analysis suggests policy measures like childcare investment and parental leave to address these disparities.
ResearchDiversity and inclusion
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2025-03-07•Europe•European Central Bank
The European Central Bank (ECB) staff responded to the European Commission's proposal to amend the net stable funding ratio (NSFR) treatment of securities financing transactions (SFTs). While the Commission seeks to make the current transitory NSFR treatment permanent, ECB staff support a temporary extension for short-term SFTs backed by Level 1 collateral, subject to review. They caution that ending the transitional treatment could increase regulatory costs, reduce market depth, and impact liquidity distribution and government bond absorption.
Policy & regulationGuidance & interpretationPrudential risks
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2025-03-07•Europe•European Central Bank
The European Central Bank has set the total annual supervisory fees for 2024 at EUR 680,564,120, divided between significant entities (EUR 651,368,183) and less significant entities (EUR 29,195,937). These fees reflect actual supervisory costs and adjustments, including interest deductions and net amounts under Article 7(3). The decision becomes effective five days post-publication in the Official Journal of the European Union.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-03-07•Europe•European Central Bank
Isabel Schnabel, a European Central Bank Executive Board Member, highlighted gender disparities in financial literacy and decision-making, noting their impact on financial outcomes and poverty risk. She emphasized the importance of diversity in monetary policy, citing the underrepresentation of women in the ECB's Governing Council. Schnabel outlined ECB initiatives to boost female representation, including childcare support, a European School, and targeted hiring and promotion strategies.
Institutional developmentWorkforce & recruitmentDiversity and inclusion
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2025-03-07•Europe•European Central Bank
The European Central Bank reported a weekly decrease in total assets to EUR 6,287,780m, down EUR 31,751m, primarily due to a reduction in securities held for monetary policy purposes. Lending to euro area credit institutions also fell, while monetary policy-related liabilities increased, driven by a rise in current accounts. Liabilities to other euro area residents decreased, mainly due to a decline in general government deposits.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•Europe•European Central Bank
The European Central Bank (ECB) hosted an International Women’s Day event on financial literacy, announcing commitments to reduce the gender gap. ECB President Christine Lagarde and panellists agreed to create a financial literacy network with central banks and national authorities to enhance financial literacy for women and harmonise data across Europe. The event highlighted survey findings on gender disparities in financial understanding and marked the start of annual initiatives to promote awareness and cooperation.
Financial literacy & educationFinancial literacy and educationDiversity and inclusion
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2025-03-07•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has authorized LLC Insurance Organisation Bima to provide compulsory civil liability insurance for vehicle owners in Tajikistan.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-03-07•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait announced that Fitch Ratings has affirmed Kuwait's sovereign credit rating at AA- with a stable outlook.
OtherCredit ratings
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2025-03-07•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has launched its 2025–2026 Integrity Plan under the Integrity Programme (PROGRIDE) to enhance its integrity framework and address risks. The plan, developed collaboratively, focuses on governance, risk management, communication, training, and performance measurement. SUSEP reported a 95% completion rate for the previous plan's actions, with 80% completed on time.
Institutional developmentGovernanceComplianceCapacity building
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2025-03-07•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in gross reserves to USD 66,264 million and the international liquidity position to USD 61,733 million as of 28 February 2025. Gold reserves rose by USD 230 million, SDR holdings by USD 44 million, and foreign exchange reserves by USD 114 million. The rise was driven by a higher US dollar gold price and valuation adjustments, despite foreign exchange payments made on behalf of the government.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•South Africa•South African Reserve Bank
The South African Reserve Bank issued a variation notice amending Yoco Technologies' designation as a clearing system participant under the National Payment System Act. The amendment replaces Absa Bank with Citibank N.A., South Africa Branch as Yoco's settlement system participant and removes Yoco's participation in the American Express and Diners Club clearing houses. Citibank must monitor and report Yoco's settlement activity and submit an annual report on its association with Yoco.
Policy & regulationRules & requirementsMarket infrastructure
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2025-03-07•South Africa•South African Reserve Bank
The South African Reserve Bank released its statement of assets and liabilities as of 28 February 2025, showing total assets of ZAR 1.28 trillion, a decrease of ZAR 4.91 billion from January. Gold and foreign assets remained the largest component at ZAR 1.22 trillion, with notable changes including a decline in foreign exchange reserves and an increase in the gold position. The rand price per fine ounce of gold rose to ZAR 52,844.92.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten will launch its third stakeholder survey to evaluate its performance and communications, focusing on priorities such as supervision and the introduction of the Caribbean guilder. Conducted by RE-Quest, the survey targets a broad range of stakeholders, with results to be shared publicly after analysis.
SupervisionSupervision approach, priorities & toolkitOther
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2025-03-07•Brazil•Brazilian Pension Funds Authority (PREVIC)
Brazil’s National Superintendence for Complementary Pensions (PREVIC) launched ProtocoloGOV PREVIC, a digital tool for document submission using GovBR authentication, integrated with the Electronic Information System (SEI). Offered free via PREVIC’s portal, it replaces email submissions, enhancing traceability, security, and transparency. Developed with the Ministry of Management and Innovation in Public Services, it allows real-time monitoring and automated notifications.
Institutional developmentTechnology & data transformationOther
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2025-03-07•India•India International Financial Services Centres Authority
India's International Financial Services Centres Authority (IFSCA) proposes including oilfield equipment in operating leases as a financial product under the IFSCA Act, 2019. This follows specifications for ships and aircraft-related equipment, with significant growth in registered leasing entities. The proposal suggests using the oilfield equipment definition from a Goods and Services Tax notification for concessional tax treatment.
Policy & regulationRules & requirementsOther
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2025-03-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported an increase in gross international reserves to USD 106.70 billion at end-February 2025, up from USD 103.3 billion at end-January. This rise was attributed to higher national government net foreign currency deposits, valuation adjustments of gold holdings, and net income from foreign investments. The reserves serve as a liquidity buffer, covering 7.5 months of imports and 3.8 times short-term debt.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) collaborated with the Brazilian Financial and Capital Markets Association (ANBIMA) on settlement agreements with five market participants over fund portfolio compliance and distribution-related suitability issues. Two settlements addressed portfolio limit and classification problems, while others involved due diligence and advertising irregularities. Since September 2024, a new agreement has formalized information exchange, enhancing CVM's ability to leverage ANBIMA’s monitoring efforts.
SupervisionCooperationComplianceSupervision process and methodologies
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2025-03-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission has released the BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (S.I. No. 63 of 2025) in its legislation library.
Policy & regulationRules & requirementsBeneficial ownership
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2025-03-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission has enacted the British Virgin Islands Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025, as per notice S.I. No. 64 of 2025.
Policy & regulationRules & requirementsBeneficial ownership
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2025-03-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission released the BVI Business Companies Amendment of Schedule 1 Order 2025, now available in its legislation library. The amendment is identified as Statutory Instrument No. 62 of 2025.
Policy & regulationRules & requirementsOther
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2025-03-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission released a guidance document titled “BO Implementation Timeline for Key Transactions”. The document is accompanied by a PDF attachment.
Policy & regulationGuidance & interpretationOther
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2025-03-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission updated beneficial ownership filings under the BVI Business Companies and Limited Partnerships (Beneficial Ownership) Regulations 2024. It addresses technical, legislative, and logistical issues, clarifying filings, exemptions, and penalties as the VIRRGIN system rolls out. Batch filing will be available from 17 April 2025, with a bulk filing schema expected by 31 March 2025.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-03-07•Serbia•National Bank of Serbia
The National Bank of Serbia's latest "It is useful to know" column explores inflation dynamics, including "greedflation" and "excuseflation," where inflation is driven by rising profit margins and price increases exceeding cost growth. It also examines "cheapflation" in Serbia, noting that the cheapest brands of processed food and beverages rose by about 40% from 2022 to 2024, compared to 35% for the most expensive brands, highlighting issues like low food-demand price elasticity and market-structure imperfections.
Financial literacy & education
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2025-03-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has granted Algoritma LLC an indefinite licence to operate as an electronic money institution under the Law on Payment Services and Payment Systems. The decision was approved by the Central Bank Board on 25 December 2024. Assessments of other licence applications are ongoing.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-07•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay held a forum on gender equity, financial inclusion and women's leadership in the economy. Speakers highlighted leadership gaps, the need for financial products tailored to women, and inclusion and financial education efforts in insurance, where women account for 45% of purchasers. The event also reiterated the central bank's commitment to equal opportunity within the institution.
Financial literacy & educationDiversity and inclusion
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2025-03-07•Poland•Central Bank of Poland
The Central Bank of Poland reported Poland's official reserve assets at EUR 220.5 billion (USD 229.2 billion) as of end-February 2025, marking an increase of EUR 3.4 billion from the previous month. The bank prioritises safety and liquidity in reserve management, with investments primarily in Treasury securities, international institutions, and government agency securities, alongside holdings in monetary gold and term deposits.
Data & statisticsBalance of payments and other external statistics
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2025-03-07•Poland•Ministry of Finance (Poland)
Poland's Finance Minister Andrzej Domański met with European Commissioner Maria Luís Albuquerque to discuss EU financial market development and economic strengthening. They emphasized simplifying regulations, mobilizing private capital, and deepening the Savings and Investments Union to support sectors like defence and energy. The European Commission will publish a communication on the Savings and Investments Union on 19 March, with further discussions at an informal ECOFIN meeting in April.
Policy & regulationReform agendas & prioritiesMarket development
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2025-03-07•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia held a public consultation on a draft prakas concerning the offering of infrastructure debt securities and guidelines on eligible assets. The meeting was chaired by Director General Sou Socheat, with participation from Deputy Director General Seang Thirith and Securities Issuance Supervision Department Director Thay Sokphalline.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-03-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission amended details for Tinkoff Bank under the UK’s Russia (Sanctions) (EU Exit) Regulations 2019, maintaining the asset freeze. Businesses must verify accounts with designated entities, freeze assets, and report findings to the States of Guernsey Policy & Resources Committee. Firms must notify the Commission and provide a report under Handbook Rule 12.37 if an affected relationship is identified.
Policy & regulationGuidance & interpretationSanctions list update
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2025-03-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced that ROSBANK PJSC and ACTIVE DENIZCILIK have been removed from the UK Russia financial sanctions regime, lifting their asset freeze. The UK consolidated list has been updated, and UK sanctions regulations continue to apply in Guernsey under the 2020 Brexit Regulations.
Policy & regulationRules & requirementsSanctions list update
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2025-03-07•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia reported international reserves of USD118.3 billion as of 28 February 2025, sufficient to finance 5.0 months of imports and cover 0.9 times total short-term external debt. The short-term external debt, primarily linked to resident banks and multinational corporations, does not constitute claims on BNM's reserves.
Data & statisticsBalance of payments and other external statistics