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2025-02-04•Israel•Bank of Israel
The Bank of Israel’s Banking Supervision Department released its 2024 Household Satisfaction Survey, showing improved customer satisfaction with banks and credit card companies, though results varied across entities and service channels. The survey, expanded to 4,000 respondents, introduced a comparative dashboard and highlighted tools for public comparison of banks, with a separate survey for small businesses expected soon.
SupervisionRisk monitoring & watch pointsConsumer and investor protection
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2025-02-04•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and Germany's Ambassador Jörn Rohde discussed financial sector developments and the central bank's reform agenda, including SEPA membership and payments infrastructure enhancement. The meeting highlighted financial stability, regulatory framework advancements, and challenges like Green Card motor insurance system accession. Ongoing cooperation with German authorities, including Deutsche Bundesbank, was noted, with a commitment to further collaboration.
Policy & regulationImplementation, projects & pilotsCapacity building
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2025-02-04•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority (DFSA) has released its 2025-2026 Business Plan for the Dubai International Financial Centre, focusing on supervisory priorities to maintain an effective regulatory framework. Key areas include advancing a risk-based regulatory approach, aligning with international standards, and enhancing clarity in sectors like artificial intelligence and fintech. The plan emphasizes financial crime prevention, cybersecurity resilience, and investment in talent and culture, particularly targeting Emirati professionals.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-02-04•Ukraine•Ukraine National Commission on Securities and Stock Market
NSSMC Chair Ruslan Magomedov met with Francis Malige of the EBRD to discuss capital markets infrastructure development. They considered creating a consolidated structure under the EBRD to unify market elements, aiming to enhance capital markets as a financing channel and attract investment for Ukraine's recovery and integration into European and international markets.
Policy & regulationCooperationMarket developmentMarket infrastructure
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2025-02-04•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank's Steven Maijoor warned of potential disruptions to EU financial services from state-sponsored cyberattacks, emphasizing sector interconnections and reliance on shared providers. The European Digital Operational Resilience Act (DORA), effective 2025, mandates threat-led penetration testing and enhances cyber risk management in outsourcing. Maijoor highlighted the need for cross-sector cooperation and government-led cyber drills, citing Dutch exercises revealing weaknesses in information sharing and resource mobilization.
SupervisionSupervision approach, priorities & toolkitCyber resilience
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2025-02-04•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan participated in the Investor Connect Event 2025, highlighting its role in connecting Pakistani startups with global investors. SECP Commissioner Zeeshan Rehman Khattak emphasized the importance of incubators in supporting early-stage ventures and enhancing regulatory compliance. The SECP also discussed initiatives like regulatory sandboxes and simplified incorporation to facilitate startup growth and investor confidence.
Policy & regulationCooperationFintech and insurtechMarket development
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2025-02-04•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) conducted a capacity-building session in Karachi to aid banks in utilizing the Electronic Mortgage Register (EMR) portal. In collaboration with the Pakistan Banks’ Association, the session focused on EMR functionality and its role as a centralized mortgage information database to enhance decision-making and transparency.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-04•Georgia•National Bank of Georgia
The National Bank of Georgia concluded a meeting with an International Monetary Fund mission and the Ministry of Finance to review Georgia’s macroeconomic outlook and financial developments. Discussions included monetary and fiscal policy settings, with agreement on macroeconomic and fiscal forecasts. The NBG reaffirmed its commitment to price stability and ongoing cooperation under the IMF’s Article IV process.
Policy & regulationCooperationCross-border cooperation
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2025-02-04•Georgia•National Bank of Georgia
The National Bank of Georgia launched a Regulatory Sandbox project on tokenized deposits and certificates of deposit using distributed ledger technology (DLT), inviting participation from supervised entities. The initiative aims to develop a regulatory framework, diversify the financial ecosystem, and enhance product offerings without guaranteeing specific licensing or authorisation. Applications will be accepted starting 15 February 2025.
SupervisionInnovation & testingFintech and insurtechTokenization
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2025-02-04•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance has launched a public consultation on the EU Listing Act 2024, focusing on national discretions regarding prospectus requirements for stock exchange listings. Key considerations include setting the prospectus exemption threshold at EUR 12 million or EUR 5 million and determining whether issuers should publish a full or summarised prospectus. The Listing Act aims to streamline listings, reduce compliance costs, and enhance SME access to public markets while ensuring investor protection.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-02-04•Europe•European Banking Authority
The European Banking Authority (EBA) has released final draft Implementing Technical Standards to standardize reporting on charges for credit transfers, payment accounts, and transaction rejections due to EU sanctions. Harmonized reporting is delayed to April 2026, with data collection deprioritized in 2025. The European Commission is expected to adopt the standards, after which the EBA will develop taxonomy and validation rules, with reporting deferred to October 2026.
Policy & regulationRules & requirementsRegulatory reporting
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2025-02-04•Portugal•Bank of Portugal
The Bank of Portugal released updated statistics showing a decline in average rates for new term deposits and mortgage loans through December 2024, with record volumes of new housing loan contracts. Household term deposit rates averaged 2.16%, while corporate rates fell to 2.66%. New lending to households reached EUR 34.3bn, with mortgage contracts at EUR 17.6bn, and new corporate lending rose to EUR 26.7bn.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-02-04•United States•Financial Industry Regulatory Authority
FINRA fined Apex Clearing USD 3.2 million for violations in its fully paid securities lending program, marking the first enforcement of Rule 4330. Apex misrepresented compensation to retail investors and failed to deliver required disclosures, violating several rules. Apex settled without admitting or denying the findings and agreed to certify remediation.
EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
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2025-02-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency amended regulations to enhance the securities market, introducing an "account operator" role for banks to manage depositor accounts at the Central Securities Depository. These changes allow global custodians to transact in Kazakh securities and expand the Depository's remit to include settlement services and tax administration for foreign income, aiming to improve risk management and facilitate transactions within the Astana International Financial Centre and on foreign exchanges.
Policy & regulationRules & requirementsOther
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2025-02-04•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 reported to President Tokayev on 2024 financial sector outcomes, highlighting banking stability, supervisory work, and legislative initiatives. Key developments included a 19.7% increase in bank assets to KZT 61.6 trillion, a 20.9% rise in lending, and non-performing assets below 3.1%. The President directed the Agency to maintain financial stability, expand real sector lending, and enhance consumer protection.
Policy & regulationRules & requirementsLendingAsset qualitySupervision process and methodologies
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2025-02-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has amended rules on microcredit agreements, setting limits on borrower contact and introducing conduct requirements for microfinance organisations. The amendments prohibit unfair practices, allow borrowers to request contract changes, and shorten notification deadlines for payment delays. These changes align with legislative amendments and take effect on 28 February 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan is developing a draft Board resolution to amend rules on calculating and administering insurance payments under education savings insurance contracts. This initiative is part of the Keleshek unified voluntary accumulation system and aims to refine the legal framework for the State Educational Savings System.
Policy & regulationRules & requirementsOther
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2025-02-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency advises borrowers to review loan agreements, emphasizing the effective interest rate. Consumers should request a fee list, confirm insurance needs, and ensure clarity in repayment schedules and penalties. Financial literacy resources are on Fingramota.kz.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-02-04•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) announced that from 2025, the Cooperative Deposit Insurance Fund will cover deposits of member savers under the legal framework for savings and credit cooperatives (Coopac). Coverage applies to 131 Coopac that have paid contributions for 24 months, with insured savings up to PEN 5,000 for level 1 and 2 Coopac with assets up to 32,200 tax units (UIT), and up to PEN 10,000 for level 2 Coopac with assets above 32,200 UIT and level 3 Coopac. Deposit-taking Coopac not on the coverage list will be added once contributions are regularised.
Policy & regulationImplementation, projects & pilotsClient asset custody and safekeeping
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2025-02-04•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) addressed private health insurance directors on risk management, sustainability, and board effectiveness. APRA noted industry improvements, with nearly 15 million Australians insured, net insurance margins at 5%, and investment earnings at 4% of premium revenue in 2024. However, it highlighted pressures from medical inflation, demographic ageing, and cyber risks. APRA expressed concerns over risk governance maturity under CPS 220 and its integration with CPS 230 and CPS 234. It urged insurers to enhance exit planning under CPS 190 and noted the upcoming Financial Accountability Regime extension in March 2025, increasing accountability for directors and executives. APRA plans to focus on governance and propose changes to its prudential standards.
SupervisionSupervision approach, priorities & toolkitRisk managementPrudential risks
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2025-02-04•Global•CDP
CDP CEO Sherry Madera has joined the Global Advisory Council of Japan’s GX Acceleration Agency, which enhances international networks for green transformation. Established in July 2024, the agency supports Japan’s decarbonization with over JPY 150 trillion in planned GX investments and will manage carbon pricing and emissions trading from fiscal year 2026. The council will offer strategic advice on GX policy and bolster global communication of the GX agenda.
Institutional developmentLeadership change & appointmentsClimate risk and sustainable finance
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2025-02-04•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released a thematic report from a conduct-focused review of insurance intermediaries, highlighting compliance with legislation and customer treatment. The Prudential Supervision Division's two-phase review involved 27 firms responding to a questionnaire and a risk-based sample of seven firms undergoing a desk-based review. The report aims to inform sector risk assessment and urges firms to update and document their processes.
SupervisionReviews, inspections & stress testsAML and CFTSupervision process and methodologies
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2025-02-04•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert about fraudulent websites and phishing emails 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 like passwords via phone, email, or SMS. Affected individuals should contact DBS using details from the bank's press release and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-04•Global•Bank for International Settlements
The Bank for International Settlements announced that the Group of Central Bank Governors and Heads of Supervision has endorsed the Basel Committee on Banking Supervision’s 2025-26 work programme, focusing on Basel III implementation and emerging risks. The programme prioritises risk assessment, digital finance, and liquidity, with collaboration from standard-setting bodies and stakeholders. GHOS will review the Basel Committee’s work on climate-related financial risks in 2025.
Policy & regulationReform agendas & prioritiesPrudential risksFinancial stability and systemic risk
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2025-02-04•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) released its 2025 roadmap for the insurance sector, focusing on consumer outcomes, insurer stability, and regulatory capability. Key initiatives include clearer compensation terms for motor insurance, enhanced regional compliance inspections, and improved market infrastructure with API and road safety projects. The roadmap also outlines plans for group-wide supervision, recalibrating risk-based capital, modernizing data-sharing, a phased Open Insurance rollout, and AI governance guidelines.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-02-04•Qatar•Qatar Central Bank
The Qatar Central Bank announced that Governor Sheikh Bandar bin Mohammad bin Saoud Al Thani met with Germany’s Federal Minister of Finance, Dr. Jörg Kukies, to discuss mutual interests and enhance bilateral cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-02-04•Europe•European Central Bank
The European Central Bank released the draft outcome of the 19th meeting of the digital euro scheme Rulebook Development Group, detailing the 2025 workplan for rulebook development and review. Key areas include mandatory digital euro services, liquidity management, offline functionality, and engagement with standardisation bodies like the European Payments Council. The update also covers ongoing workstreams such as fraud-risk recommendations, dispute management, and certification.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-02-04•Middle East•Union of Arab Securities Authorities
The United Arab Emirates Securities and Commodities Authority has appointed Waleed Saeed Abdul Salam Al Awadhi as its Chief Executive Officer.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-04•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has released a new data layout for the Operations Registration System (SRO) for non-life and personal insurance under the simple repair financial regime, as outlined in SUSEP Circular No. 710/2024. Insurers must adapt their systems for compliance by 2 March 2026. Updated technical information is available on registrars' internet portals and the SRO page on SUSEP’s website.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-02-04•Jordan•Jordan Securities Commission
The Jordan Securities Commission met with financial services companies and the Jordan Association of Securities Investors to discuss capital market conditions and gather feedback on decisions and incentives under the Economic Modernization Vision 2025. Key topics included legislative updates, tax issues for mutual funds, new financial products, and alignment with International Organization of Securities Commissions standards, aiming to shape future projects and potential trading-cost reforms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-02-04•Europe•Eurosif
Eurosif supports a joint investor appeal urging the European Commission to preserve the EU sustainable finance framework's integrity amid amendments. Over 200 financial entities, managing EUR 6.6 trillion, warn against revisions causing legal uncertainty and weakening sustainability disclosures. Signatories advocate targeted changes to streamline technical standards and enhance guidance, emphasizing long-term policy stability.
Policy & regulationOtherClimate risk and sustainable finance
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2025-02-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines updated the list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) as of Q3 2024, advising Authorized Agent Banks and related entities not to honor these for foreign exchange transactions. The update includes original and provisional BSRDs cancelled and replaced from April 2020 to December 2022 due to investment changes, per the amended Manual of Regulations on Foreign Exchange Transactions.
Policy & regulationGuidance & interpretationLicence withdrawal
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2025-02-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines announced the conversion of Dungganon Bank (A Microfinance Rural Bank), Inc. into a regular rural bank, now named Dungganon Bank (A Rural Bank), Inc. This follows the Securities and Exchange Commission's approval of the bank's Amended Articles of Incorporation and By-Laws on 4 December 2024.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-04•Iraq•Central Bank of Iraq
The Central Bank of Iraq, in collaboration with the Iraqi government and Oliver Wyman, announced a strategic reform initiative for the banking sector, focusing on governance, service standards, and alignment with international standards. The reforms aim to enhance financial resilience through improved capital and liquidity requirements, with further operational details to follow.
Policy & regulationReform agendas & prioritiesAML and CFTCorporate governancePrudential risks
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2025-02-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines highlighted its progress in developing the Islamic finance ecosystem during Abu Dhabi Finance Week, including licensing two new Islamic banks. Assistant Governor Arifa A. Ala emphasized the 2019 Islamic Banking Law, tax reforms, takaful guidelines, and the first sovereign sukuk issuance as key developments. The bank also leads the Islamic Finance Coordination Forum, focusing on public awareness and capacity-building efforts.
Policy & regulationImplementation, projects & pilots
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2025-02-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines, the Department of Education, and the BDO Foundation signed a memorandum of agreement to enhance financial literacy among K-12 learners, teachers, and Department of Education personnel. The Department of Education will focus on disseminating learning materials such as lesson exemplars and videos.
Financial literacy & educationFinancial literacy and education
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2025-02-04•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has issued a notice requiring individuals listed to pay a fee of VND 1,000,000 for the reissuance of securities practice certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly to the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-02-04•Aruba•Central Bank of Aruba
The Central Bank of Aruba has initiated a digital survey to assess residents' banked or unbanked status and payment behavior, running from 4 February to 25 February 2025. The survey aims to identify excluded groups and barriers to banking access, informing policies to enhance financial inclusion. Responses are anonymous and open to residents aged 18 and over.
Data & statisticsFinancial inclusion
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2025-02-04•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) accepted three settlement agreements totaling BRL 1,630,382.06 to resolve two administrative and one ongoing sanctioning proceeding related to alleged market abuse and governance failures. The cases involve Banco Pine S.A., Oi S.A., and Even Construtora e Incorporadora S.A., with payments required to settle allegations of undisclosed trading and disclosure failures. The CVM's Federal Attorney’s Office found no legal impediment to the settlements, which were recommended by the Term of Commitment Committee and accepted by the board.
EnforcementInvestigations & enforcement actionsOther
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2025-02-04•Slovakia•National Bank of Slovakia
The National Bank of Slovakia's Bank Board approved two decrees revising bank licensing and prior-approval proceedings under the Banking Act, effective 1 March 2025. The updates align Slovak requirements with EU regulations, modify application elements for foreign banks, and address crypto-asset obligations. Additionally, a EUR 10 silver collector coin commemorating the 950th anniversary of the Benedictine abbey in Hronský Beňadik will be issued in March 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-04•Estonia•Central Bank of Estonia
The Central Bank of Estonia released Q4 2024 data on cash circulation, noting a 6% increase in banknote issuance and a 28% decrease in coin issuance year on year. ATM withdrawals and cash deposits declined by 5% and 4%, respectively, while counterfeit detections included 105 euro banknotes and 46 coins. The report also highlighted the implementation of a rounding rule for cash payments from 1 January 2025, rounding totals to the nearest five cents.
Data & statisticsCurrency and cash management
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2025-02-04•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission released a report detailing findings from a thematic review of reserving methodologies and practices among licensed general insurers. The review involved questionnaires to 20 firms and on-site visits to five, focusing on reserve setting and monitoring. Firms are encouraged to use the report's insights and self-assurance questionnaire to enhance their frameworks.
SupervisionReviews, inspections & stress testsPrudential risksSupervision process and methodologies
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2025-02-04•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission reported a record 52,304 new company registrations in 2024, a 6% increase from 2023, attributed to digital transformation initiatives. Stock corporations comprised 75% of new registrations, with significant growth in one-person corporations. The SEC plans to expand its digital services in 2025 to enhance accessibility.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-02-04•Global•United Nations Environment Programme Finance Initiative
The UNEP FI outlined strategic priorities from its 2024 Leadership Council meeting, emphasizing unified action on climate, nature, and pollution. Key 2025 priorities include engaging policymakers and clients, sharing best practices, and supporting climate finance mobilisation. Discussions highlighted the need for consistent climate policies, carbon pricing clarity, and regulatory alignment with international agreements.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-02-04•Global•Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) has appointed Abdullah Haron as Deputy Secretary-General, effective 4 February 2025. Haron brings over 30 years of experience in financial regulation, risk management, and Islamic finance, with previous roles at the International Monetary Fund, Central Bank of the UAE, Bank Negara Malaysia, and IFSB.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-04•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC assisted the Lethbridge Police in a multi-jurisdictional identity fraud investigation, charging five individuals. Hundreds of forged identity documents and equipment were linked to victims across provinces. The accused allegedly used stolen identities for financial fraud and other crimes, with further seizures and alleged crimes in Calgary, Edmonton, and Ontario.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren criticized the Department of the Treasury's response to her inquiries regarding Secretary Bessent's alleged granting of access to government payment systems to Elon Musk and DOGE. Warren highlighted inconsistencies between Treasury's claims and public reports, questioning the authorization process and access details. She urged clarification on protections for the economy, national security, and private data.
Other
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2025-02-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Elizabeth Warren and Ron Wyden have asked the Government Accountability Office to investigate Treasury Secretary Scott Bessent's decision to grant Elon Musk and others access to sensitive Treasury payment systems. The request cites economic and national security risks, privacy concerns, and questions about the removal of Treasury's top career official, David Lebryk. It also highlights potential conflicts of interest, including X's planned payments partnership with Visa and Tesla's ties to China.
SupervisionReviews, inspections & stress testsOther
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2025-02-04•Vietnam•State Bank of Vietnam
State Bank of Vietnam Standing Deputy Governor Dao Minh Tu urged Vietnam Cooperative Bank (Co-opBank) to fulfill its public-policy mandate and 2025 business plan while ensuring safe and sustainable operations. Co-opBank CEO Pham Thi Hong Minh highlighted 2024 achievements amid economic challenges, and Chairman Nguyen Quoc Cuong emphasized plans for modernization and meeting 2025 goals.
SupervisionReviews, inspections & stress testsLeadership change and appointments
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2025-02-04•Vietnam•State Bank of Vietnam
State Bank of Vietnam Governor Nguyen Thi Hong reviewed 2024 economic and banking outcomes at VietinBank, citing 7.09% GDP growth and 3.63% inflation. She emphasized innovation for an 8% growth target in 2025 and highlighted efforts in inflation control, digital transformation, and typhoon recovery support. The Governor also noted the amended Law on Credit Institutions and praised VietinBank's asset and credit growth.
Monetary policyMonetary policy assessments & outlooksOther
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2025-02-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs introduced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, a bipartisan bill to regulate dollar-denominated payment stablecoins. The Act proposes licensing procedures, reserve requirements, and regulatory standards, applying the Federal Reserve's framework to issuers over USD 10 billion while allowing smaller issuers to remain state-regulated. It includes consumer protection measures such as one-to-one reserves and a ban on algorithmic stablecoins.
Policy & regulationRules & requirementsStablecoins
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2025-02-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced the formation of a bicameral working group to develop a regulatory framework for digital assets, aiming to bolster U.S. leadership in the sector. The group will include members from the Senate Banking, House Financial Services, and Senate and House Agriculture Committees. The announcement was made at a press conference with key congressional and White House figures.
Policy & regulationCooperation
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2025-02-04•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has issued a consultation on proposed regulations and guidelines for debt collection and amendments to non-performing credit agreement management. The proposals outline authorisation requirements and conduct standards for debt collection, aligning with European Banking Authority guidelines. These changes reflect FI's expanded supervisory role since January 2024.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-04•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority's 2024 report on investment fraud highlights fake social media ads and cryptoasset claims deceiving consumers. The authority warned about 4,500 entities, a 37% increase from the previous year, driven by foreign warnings. Notable scams involved false claims of AI-managed crypto investments and unauthorized trading services, with consumers advised to consult the authority's warning list.
SupervisionAlertsFraud and scams
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2025-02-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) finalized the framework for Egypt's voluntary carbon market, treating carbon emission reduction certificates as tradable financial instruments. Key developments include Capital Market Law amendments, a trading platform on the Egyptian Exchange, and a Committee for Supervision of Carbon Emission Reduction Units. The FRA reported over 160,000 registered carbon certificates and 26 projects, with preparations for the first auction and a renewable energy certificates framework.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-02-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority announced measures to bolster fintech and innovation in non-banking financial activities, including reducing entry capital requirements for fintech startups and enabling robo-advisory services. The authority introduced SPAC listing controls and launched a regulatory sandbox for testing fintech applications. Minimum capital for fintech startups is now EGP 15 million, while SPACs must increase capital to EGP 100 million within three months of listing.
Policy & regulationRules & requirementsFintech and insurtechRegulatory sandbox
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2025-02-04•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet supports the Savings Bank Committee's proposals to amend savings banks' capital structure and equity certificate rules to align with the Capital Requirements Regulation. It endorses easing conversion requirements into joint-stock savings banks and abolishing customer dividends, while advocating for a stronger link between owner capital size and equity certificate holders' influence. Finanstilsynet plans to engage with the European Banking Authority on these changes, considering consultation feedback and the Ministry of Finance's assessment.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-02-04•United States•U.S. Department of Justice
The U.S. Department of Justice announced that Stephen George, a former vice president and controller at a NASDAQ-listed company, pleaded guilty to securities fraud for insider trading, generating over USD 1.6 million in illicit profits. George used non-public information to trade shares and options, selling them after the company reported better-than-expected earnings. He faces up to 20 years in prison, with sentencing set for April 28.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-02-04•Canada•Payments Canada
Payments Canada has launched a 30-day public consultation on policy proposals to amend its by-laws and rules ahead of changes to the Canadian Payments Act, broadening membership eligibility. The proposals cover membership, governance, system participation, and compliance, including Stakeholder Advisory Council eligibility and compliance penalties. Feedback will guide drafting by-law amendments and rule changes through the regulatory approval process.
Policy & regulationRules & requirementsPayments and payment systems
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2025-02-04•Iceland•Central Bank of Iceland
The Central Bank of Iceland will release a Monetary Policy Committee statement and Monetary Bulletin on 5 February 2025, with a press conference to follow at 09:30 led by key officials.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-04•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released a list of state nonmember banks evaluated for Community Reinvestment Act (CRA) compliance, including ratings from November 2024. The CRA mandates assessments of banks' efforts to meet community credit needs, with results publicly disclosed as required by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
Policy & regulationImplementation, projects & pilotsCompliance
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2025-02-04•Chile•Chile Financial Market Commission
Chile’s Financial Market Commission (CMF) reported on the implementation of the Fintech Act, requiring firms to file enrolment and authorisation applications by 3 February 2025 to continue operations. The CMF received 335 enrolment requests, with 160 simultaneous authorisation applications, and approved 26 requests for investment advisory services. Entities operating without filing may face inspections and sanctions.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-02-04•Europe•European Central Bank
The European Central Bank's quarterly transparency update reported no errors affecting the euro short-term rate (€STR) for Q4 2024 above the reporting threshold. The update confirmed no incidents where the absolute impact on €STR exceeded 0.1 basis points.
Data & statisticsRegulatory reporting
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2025-02-04•Europe•European Central Bank
The European Central Bank released the disaggregated financial statement of the Eurosystem as of 3 January 2025, detailing assets and liabilities by each euro area national central bank and the ECB. The consolidated balance sheet totaled EUR 6,412,636 million, with significant figures including EUR 872,158 million in gold and gold receivables and EUR 1,585,418 million in banknotes in circulation. The statement also highlights intra-Eurosystem positions and notes potential negative "capital and reserves" for individual national central banks due to losses.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-04•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has reorganized the Division of Enforcement, consolidating task forces into two units to enhance focus on fraud victims and governance. The Complex Fraud Task Force, led by Deputy Director Paul Hayeck, will address complex fraud and manipulation, while the Retail Fraud and General Enforcement Task Force, under Deputy Director Charles Marvine, will focus on retail fraud and general enforcement. This restructuring aims to improve consistency, fairness, and due process in enforcement.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-04•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Division of Market Oversight issued a no-action letter allowing Korea Exchange to offer KOSPI 200 Futures Contracts to U.S. persons while reviewing a certification request under CFTC Regulation 30.13. This follows changes in the KOSPI 200's classification, which will shift to exclusive CFTC jurisdiction on 6 February 2025. Similar no-action letters were issued in 2021 and 2022 when the index became broad-based.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-02-04•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission announced a default judgment by the US District Court for the Southern District of Florida against Emerson Pires, Flavio Goncalves, and Joshua Nicholas for fraud related to the EmpiresX commodity pool scheme. The defendants must pay significant monetary sanctions and are permanently barred from CFTC registration and trading in CFTC-regulated markets. The judgment resolves a CFTC complaint and follows related actions by the Department of Justice and the Securities and Exchange Commission.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-04•United States•Federal Reserve Board
The Federal Reserve Board has terminated two enforcement actions against Wells Fargo related to deficient mortgage servicing and lending practices from 2011. However, the 2018 enforcement action restricting the firm's growth remains in effect.
EnforcementInvestigations & enforcement actionsCompliance
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2025-02-04•Russia•Central Bank of Russia
The Central Bank of Russia's survey reveals limited compliance with its climate-risk recommendations among financial institutions, with banks more engaged than non-governmental pension funds and insurance companies. The central bank plans to enhance methodologies for climate risk management and stress testing, urging financial institutions to independently assess these risks as Russia's trading partners shift towards a low-carbon economy.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-02-04•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission announced executive staff appointments under Acting Chairman Mark T. Uyeda, including Gabriel Eckstein as Chief of Staff and Steven Levine as Deputy Chief of Staff. Key appointments for the Crypto Task Force include Richard Gabbert, Taylor Asher, and Landon Zinda in senior advisory roles. Antonia Apps and Sebastian Gomez Abero were named Acting Deputy Directors for the Divisions of Enforcement and Corporation Finance.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-04•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester M. Peirce outlined the SEC's new Crypto Task Force's focus on regulatory clarity for crypto assets and market engagement. Initiatives include examining when crypto assets are securities, adjusting registration pathways, and clarifying securities laws for crypto-lending and staking. The Task Force is also considering temporary relief for certain token offerings and exploring a cross-border sandbox for experimentation.
Policy & regulationGuidance & interpretationFintech and insurtechRegulatory reporting
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2025-02-04•Moldova•National Bank of Moldova
The National Bank of Moldova stressed energy resilience's importance for stability during talks on enhancing energy independence. Discussions with Prime Minister Dorin Recean and European Commissioner Marta Kos highlighted monetary policy's role in supporting macroeconomic stability and energy infrastructure investment. The bank also coordinates with the Ministry of Finance on EU-related groups concerning capital movement, financial services, and economic policy.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-02-04•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) emphasized the need for strengthened governance and risk management in the private health insurance sector amid a challenging environment, highlighting pressures from inflation, demographics, and cyber risks. APRA plans to enhance supervisory focus on governance, with the Financial Accountability Regime extending to insurers in March and a forthcoming discussion paper on governance standards.
SupervisionSupervision approach, priorities & toolkitRisk managementPrudential risks
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2025-02-04•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance has introduced two digital tools: a New Information Reporting Regime and a Monitoring Dashboard (SIEP) to enhance supervision and streamline reporting. The regime modernizes data management with APIs, replacing the SINENSUP system, and expands supervisory coverage to include financial, solvency, and operational data. The SIEP dashboard provides real-time data visualization and benchmarking tools to support risk management.
SupervisionRegulatory reportingSupervision process and methodologies
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2025-02-04•Denmark•National Bank of Denmark
The National Bank of Denmark's January 2025 data shows a DKK 0.8 billion decrease in the foreign-exchange reserve to DKK 653.7 billion, driven by a DKK 2.9 billion net sale of foreign exchange and DKK 2.1 billion in net foreign borrowing by the central government. Banks’ and mortgage-credit institutions’ net position with the central bank fell by DKK 3.9 billion to DKK 256.6 billion. As of 31 January 2025, key interest rates include a discount rate of 2.35% and a lending rate of 2.50%.
Data & statisticsForeign exchange policy and markets
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2025-02-04•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) and a World Bank delegation discussed cooperation, with the World Bank pledging continued technical and advisory support. Key topics included promoting financial stability, enhancing the electronic payments ecosystem, and supporting sectoral financing. Efforts to strengthen anti-money laundering and counter-terrorism financing frameworks and restore banking services in the Gaza Strip were also addressed.
Policy & regulationCooperationCross-border cooperation
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2025-02-04•Caribbean•Eastern Caribbean Central Bank
The Interim Regulatory Commission, under the Eastern Caribbean Central Bank, has appointed Lydia Elliott to draft uniform legislation for a Regional Regulator for Citizenship by Investment Programmes in the Eastern Caribbean Currency Union. The Regulator will set, regulate, and enforce standards, investigate complaints, and facilitate stakeholder engagement. Elliott's consultancy will last seven months, with stakeholder consultations beginning in March 2025.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-03•Global•GPFI
The G20 Global Partnership for Financial Inclusion (GPFI) released a voluntary Action Plan for MSME Financing to address a USD 5.7 trillion credit gap in emerging markets. The plan shifts focus from credit market infrastructure to a holistic agenda, emphasizing diversified funding, fintech, and a gender lens. It outlines eight action areas, including modernizing credit systems, regulatory approaches for nonbank providers, and enhancing consumer protection and cybersecurity.
Policy & regulationReform agendas & prioritiesSME financing
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2025-02-03•Panama•Panama Superintendencia del Mercado de Valores
Panama’s Superintendency of the Securities Market has concluded the administrative forced liquidation of BPA Valores, S.A. and cancelled its securities house licence. This decision was formalized in Resolution No. SMV-25-25, referencing Article 302 of Panama’s Securities Market Law.
EnforcementInvestigations & enforcement actionsLiquidity risk
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2025-02-03•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo has integrated financial account verification and credit report services into the eKosova platform, allowing citizens free online access. A memorandum with the Kosovo Pension Savings Fund facilitates direct account validation for pension withdrawals, streamlining the process. The bank is collaborating with international partners to enhance efficiency and transparency through further technical improvements.
Policy & regulationImplementation, projects & pilotsFintech and insurtechFinancial inclusion
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2025-02-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) published survey results on legal entity identifiers, revealing a strong industry preference for continuing with the Legal Entity Identifier (LEI) due to significant costs of alternatives. The survey, part of ESMA's Data Strategy 2023–2028, highlighted the average cost of EUR 360,000 per firm for adapting reporting systems. ESMA plans a follow-up workshop to discuss findings and future actions.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-02-03•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Bulletin 11 of 2025, certifying per-gram prices for gold, silver, and platinum for February 2025 revenue liquidation. This aligns with provisions from Law 488 of 1998, Law 141 of 1994 as amended by Law 756 of 2002, and the Mining-Energy Planning Unit's December 2024 resolution.
Policy & regulationRules & requirementsOther
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2025-02-03•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its second Payment Statistics report, detailing developments in non-cash payment instruments and usage of payment cards and terminals in Cyprus. The report categorizes transactions into credit transfers, direct debits, payment cards, electronic money payments, cheques, and remittances, with data sourced from resident payment service providers.
Data & statistics
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2025-02-03•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has established a Sustainability Committee at the Governing Council level to guide its Sustainability Strategy and net zero carbon efforts. This committee will work alongside an existing Sustainability Group to integrate climate considerations into the bank's operations. The approach aligns with the European Central Bank and follows the Network for Greening the Financial System guidelines.
Institutional developmentGovernanceOther
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2025-02-03•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) issued a warning about scammers using its name and logo, and those of other supervisors, to deceive consumers. Fraudsters claim the FSMA can recover lost funds and request payments under false pretenses. The FSMA emphasized it does not recover investments, demand payments, or make unsolicited contact, and official emails only come from the fsma.be domain.
SupervisionAlertsFraud and scams
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2025-02-03•France•Ministry of Economics & Finance (France)
France's Ministry of Economics and Finance unveiled a French Tech Finance Partners action plan with 10 recommendations to facilitate technology company listings in France and Europe. Key proposals include mobilizing institutional investors, enhancing market functioning, and improving post-IPO conditions. The plan also emphasizes digitalizing stock market processes, supporting liquidity, and promoting regulatory and tax stability.
Policy & regulationReform agendas & prioritiesSecurities offerings and listingsMarket development
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2025-02-03•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) reported its market stress indicator stayed in the low-risk zone in late 2024, closing at 0.13, but rose to 0.21 in early 2025 due to increased volatility. This real-time systemic risk gauge aggregates 18 inputs across six segments, with notable deviations in August 2024 amid market turbulence. The report highlights elevated geopolitical risks, potential monetary policy divergence, and medium- to long-term risks, including cybersecurity and cryptoassets, while noting high fund interconnectedness in non-bank financial intermediation.
SupervisionRisk monitoring & watch pointsFinancial and market indicatorsSupervisory data
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2025-02-03•Denmark•National Bank of Denmark
The National Bank of Denmark estimates that approximately DKK 3 billion in older banknotes and current DKK 1,000 notes will remain unredeemed before the final redemption deadline, with the recalled notes remaining legal tender until 31 May 2025 and exchangeable until 31 May 2026. A public information campaign is planned for spring 2025 to emphasize these deadlines.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-02-03•Australia•Australian Securities & Investments Commission
Former financial adviser Anthony Paul Torre pleaded guilty to stealing and fraud involving AUD 1,030,000 of client funds, occurring between March 2010 and January 2015. Torre appeared in the District Court of Western Australia and is in custody pending a sentencing hearing on 9 June 2025. The case is prosecuted by the Commonwealth Director of Public Prosecutions after an ASIC investigation.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-03•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) warns of a scam involving fake investment bonds, where scammers impersonate Bunnings Warehouse to promote fraudulent "sustainability" bonds with false claims of high returns and government protection. The scam uses a fake website and spam emails, offering investments between AUD 50,000 and AUD 250,000 with returns up to 9%. ASIC advises consumers to verify promoters on its website and report suspected scams to banks and Scamwatch.
SupervisionAlertsFraud and scams
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2025-02-03•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority conducted a one-day internal training for staff on mental health and ethics in the public service to enhance employee wellbeing and discourage corruption. The training, opened by Insurance Commissioner Dr. Baghayo Saqware, addressed workplace stress management and ethical principles such as service delivery and integrity.
Institutional developmentCooperation & capacity buildingOther
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2025-02-03•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) and the Tanzania Police Force’s Traffic Division are collaborating to enhance road safety by proposing system integration for quicker handling of accident information and insurance claims. A workshop in Dodoma is planned to strategize on reducing road accidents, with a focus on strengthening insurance education for police commanders.
Policy & regulationCooperationDomestic cooperation
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2025-02-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has prohibited the withdrawal of foreign issuer securities from the depository accounting system during martial law, effective January 1, 2025, as an urgent IMF structural benchmark. The Commission is also progressing on EFF-related tasks, including a reorganisation strategy, updating the Code of Ethics, and initiating an independent assessment of Commission members. Terms of reference for a review of senior management’s compliance with the Code of Ethics have been agreed with the IMF.
Policy & regulationRules & requirementsOther
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2025-02-03•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority seeks proposals for a pilot project to test "embedded supervision" in decentralised finance (DeFi), integrating regulatory oversight into DeFi technology. The initiative invites stakeholders to explore risk-based DeFi models, real-time supervision, and data transmission to regulators. Pilot concepts include regulatory decentralised autonomous organisations, smart contract coding of regulatory requirements, and real-time compliance reporting tools.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-02-03•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority's second-half 2024 bulletin highlights a new AML, terrorist financing and proliferation financing regime, with related instructions on supervision, customer due diligence, reporting, qualified investors and order handling. It also records approvals for several bond and equity offerings, including a Tosyali transaction of up to DZD 20 billion and Banque de Développement Local's 30% capital increase, as well as new brokerage authorizations and digital platforms.
Policy & regulationRules & requirementsAML and CFTSecurities offerings and listings
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2025-02-03•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority (BMA) warned about fraudulent social media posts and a PDF falsely claiming to be official BMA materials, promoting the unlicensed PrimeAurora crypto-currency platform. The content includes a fabricated report and unauthorized BMA logo, misleadingly suggesting legal actions by the "Central Bank of Bermuda." The BMA emphasized the risks of engaging with unregulated entities, especially those introduced through fraudulent claims.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-02-03•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia released a video interview with Governor Anita Angelovska-Bezoska discussing reforms to align domestic regulations with European standards to boost foreign direct investment (FDI) and economic growth. She emphasized harmonizing banking and payments laws with EU regulations to facilitate integration into the Single Euro Payments Area (SEPA) ahead of EU accession. Angelovska-Bezoska noted that two-thirds of FDI originates from the EU and highlighted SEPA integration's potential benefits for reducing cross-border trading costs and enhancing competitiveness.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-02-03•Italy•Bank of Italy
The Bank of Italy has announced a call for papers for its inaugural Annual Research Conference on Monetary Policy, scheduled for 12-13 June 2025. The event will feature keynote speakers Professor George-Marios Angeletos and Professor Vasso Ioannidou, focusing on topics such as information frictions, monetary-fiscal interactions, and policy transmission through financial intermediaries.
Research
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2025-02-03•Italy•Bank of Italy
The Bank of Italy released five Occasional Papers addressing topics such as commercial real estate loan-to-value and default risk, banks’ carbon pledges, cost differences between unit-linked policies and mutual funds, renewable energy development in Italy, and a local logit approach for forecasting corporate default probabilities.
ResearchClimate risk and sustainable finance
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2025-02-03•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has updated the Collective Investment Sector Reporting Tool (CISERO) on its eDesk platform, incorporating changes from Circular CSSF 24/856 and supervisory feedback. Updates include modifications to the Self-Assessment Questionnaire (SAQ) and Separate Report, focusing on passive non-compliance classification and NAV determination. A new CISERO Dashboard section supports the submission of letters for modified audit opinions, with changes in submission procedures for UCIs with financial year-ends from 31 December 2024.
Policy & regulationImplementation, projects & pilotsRegulatory reporting