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2025-01-02•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners released a consumer explainer on differences between actual cash value (ACV) and replacement cost value (RCV) in homeowners insurance. ACV pays based on depreciated value, potentially leaving policyholders short, while RCV covers repair or replacement with similar materials, excluding market value. An example shows RCV pays full repair cost minus the deductible, whereas ACV reduces the payout further based on depreciation.
Financial literacy & education
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2025-01-02•Lithuania•Bank of Lithuania
The Bank of Lithuania's November 2024 statistics show a rise in Lithuanian resident deposits and lending by credit institutions, alongside a decrease in interest rates for new household borrowing and term deposits. Resident deposits increased by EUR 1,158.8 million, while loans grew by EUR 351.0 million, with notable growth in household and non-financial corporation sectors. Interest rates on new household loans fell to 5.74%, and rates on new household deposits decreased to 2.81%.
Data & statisticsMonetary data
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2025-01-02•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency and the U.S. Treasury amended the Preferred Stock Purchase Agreements for Fannie Mae and Freddie Mac, enhancing flexibility and clarifying FHFA capital requirements. Amendments remove suspended provisions, reinstate Treasury's consent right for conservatorship termination, and outline a process for exploring termination options beyond receivership. A side letter details steps for public input and market impact analysis before seeking Treasury consent.
Policy & regulationRules & requirementsOther
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2025-01-02•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) secured the first conviction of a Hong Kong practising solicitor, Mr Tse Yin Fung, for breaching the secrecy provision under the Securities and Futures Ordinance. Tse pleaded guilty to disclosing confidential information and was fined HKD 25,000, with additional orders to pay the SFC’s investigation costs. The breach was identified during SFC investigations into suspected ramp-and-dump cases.
EnforcementInvestigations & enforcement actionsOther
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2025-01-02•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for November 2024, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-01-02•Philippines•Department of Finance (Philippines)
The Philippines Department of Finance reported that the Land Bank and Development Bank of the Philippines exceed the Bangko Sentral ng Pilipinas' 10% regulatory threshold with Capital Adequacy Ratios of 16.42% and 14.78%, respectively. The department is advocating for Congressional approval of charter amendments to allow these banks to access private capital and streamline bond issuance processes, enhancing their financial standing and reducing reliance on government support.
Policy & regulationRules & requirementsCapital adequacy
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2025-01-02•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has opened the AML/CFT Annual Statistical Return for 2024, requiring completion via the STRIX portal by 31 March 2025. This data collection supports risk-based supervision and the Island's third National Risk Assessment. Updated Return Guidance, a "living document," will be maintained throughout 2025, with dedicated supervisory staff available for assistance.
SupervisionRegulatory reporting
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2025-01-02•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority issued a warning regarding the website ipswltd.com, which falsely claims to represent "Island Private Swift Ltd" and offers financial services from the Isle of Man. The Authority confirmed no association with any legitimate Isle of Man business and noted the company is not licensed or registered. The website's activities may be fraudulent, potentially targeting users for identity theft.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-01-02•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Neon Solutions Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 2 January 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-01-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding phishing messages linked to Welab Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact Welab Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority, with major banks, announced arrangements for exchanging new and good-as-new notes from 14 to 28 January for Chinese New Year. The HKMA also promoted electronic channels for lai-see, including the Faster Payment System and e-wallet services, with banks expected to offer promotions. Measures include extended branch hours, online booking for notes, and crowd-management strategies.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-01-02•India•Reserve Bank of India
The Reserve Bank of India has designated the State Bank of India as the lead bank for the newly established Meluri district in Nagaland, with district working code 02R. Lead bank assignments for other districts in Nagaland remain unchanged.
SupervisionAuthorisations & approvalsOther
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2025-01-02•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) has deployed officials to assist with insurance claims after a tour bus crash in Surat Thani province, causing five deaths and 22 injuries. The OIC confirmed coverage and initiated urgent loss tracking via its electronic reporting platform, providing on-site support to affected families.
SupervisionInterventionsOther
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2025-01-02•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission's Superintendence of Supervision of Institutional Investors has updated guidance on onboarding data and CPF tax identifiers for non-resident investors exempt from CVM registration under Resolution 13. The update clarifies that non-resident natural persons, including those in collective accounts, do not require CVM registration or authorization to operate. A joint CVM and B3 workshop on the project is postponed to February 2025.
Policy & regulationGuidance & interpretationOther
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2025-01-02•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Ordinance CVM 138, appointing 60 candidates from its 2024 recruitment process to CVM Analyst and Inspector roles. The ordinance specifies a maximum of 30 days for appointees to take office at their designated locations.
Institutional developmentWorkforce & recruitmentLicence approval
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2025-01-02•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore promotes Fit notes and e-hong baos for Lunar New Year gifting as a sustainable alternative to new notes, with DBS, OCBC, and UOB facilitating exchanges. Fit notes, verified by banknote processing machines, saw a 5% increase in exchanges, saving an estimated 408tCO2e. Banks will enhance access to Fit notes through increased ATMs and improved e-hong bao offerings, with pre-booking and collection details outlined for customers.
Policy & regulationImplementation, projects & pilotsOther
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2025-01-02•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the National University of Singapore have appointed Professor Atif Mian as the MAS Distinguished Term Professor in Economics and Finance from 2 to 17 January 2025. Professor Mian will deliver a public lecture and engage with NUS faculty and MAS policymakers on topics including inequality, financialisation, and international finance. Established in 2009, the Term Professorship scheme has been awarded to 23 scholars, with the partnership recently extended for another five years.
Institutional developmentCooperation & capacity buildingOther
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2025-01-02•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia issued the Insurers and Takaful Operators-Repairers Code of Conduct, effective 2 January 2025, setting minimum standards for motor claims settlements. The Code mandates compliance for Panel Repairers and allows voluntary participation for Non-Panel Repairers, requiring an Internal Dispute Resolution process for disputes. A review is scheduled 12 months post-launch to evaluate its effectiveness and consider an External Dispute Resolution process.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-01-02•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the removal of Abdelhafiz Zlitni from the UN Libya sanctions regime, updating the consolidated list accordingly. Firms must verify accounts or relationships with designated persons, freeze relevant funds, and comply with reporting obligations to the Policy & Resources Committee. Affected firms should notify the Commission and submit a detailed report under Handbook Rule 12.37.
Policy & regulationRules & requirementsSanctions list update
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2025-01-02•Malaysia (Labuan)•Labuan Financial Services Authority
Dato’ Wan Mohd Fadzmi Che Wan Othman Fadzilah has concluded his tenure as chairman of the Labuan Financial Services Authority as of 31 December 2024. The authority will announce a new chairman pending approval from the Ministry of Finance.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission (SEC) has amended its fee regulations, repealing the 20% filing fee reduction for listed companies' annual registration statements. This change reflects the SEC's assessment that the incentive objectives have been met, as most companies already comply with the conditions. Other fee reduction measures remain, including deductions for expenses related to greenhouse gas emissions disclosures.
Policy & regulationRules & requirementsRegulatory burden
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2025-01-02•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
U.S. Senate Banking Committee's Ranking Member Tim Scott and House Financial Services Vice Chair French Hill have requested a briefing from Treasury Secretary Janet Yellen on a China state-sponsored cybersecurity incident at the Treasury Department. The briefing will cover the responsible Advanced Persistent Threat actor, accessed information, and Treasury's preventive measures. Concerns focus on safeguarding sensitive federal information, including tax data and business ownership details.
OtherCyber resilience
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2025-01-02•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) announced a 2025 strategy shift from developing transition "building blocks" to addressing barriers to large-scale capital mobilization for net zero, emphasizing closing the investment gap. GFANZ will focus on mobilizing finance through public-private partnerships and scaling tools with multilateral development banks, while engaging with governments and regulators to tackle regulatory barriers.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-01-02•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero will shift its focus from developing transition "building blocks" to addressing capital mobilization barriers, emphasizing closing the investment gap for the net-zero transition in emerging markets. It will prioritize public-private partnerships and collaborate with multilateral development banks and governments on regulatory barriers and policy environments, while transitioning to an independent Principals Group led by CEOs.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-01-02•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority has revised the list of questionnaires for insurance undertakings and occupational pension firms.
SupervisionRegulatory reporting
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2025-01-02•Iceland•Central Bank of Iceland
The Central Bank of Iceland released minutes from the Financial Stability Committee's November and December 2024 meetings, detailing discussions on financial stability risks, countercyclical capital buffer policy, and economic developments, including household and corporate debt, real estate, and global uncertainties.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskPrudential risks
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2025-01-02•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority (FIN-FSA) outlined its 2025 priorities, emphasizing governance, risk management, and transparency. Key areas include operational preparedness, IT and cyber risks, ESG risks, and supervising new entities like crypto-asset providers. FIN-FSA will address credit risk, money laundering prevention, and compliance in banking, insurance, and capital markets, with thematic work on AI Regulation, the Digital Operational Resilience Act, and sustainability reporting.
SupervisionSupervision approach, priorities & toolkitRisk managementSupervision process and methodologies
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2025-01-02•United States•U.S. Department of Justice
The U.S. Department of Justice announced the extradition of Do Hyeong Kwon, co-founder of Terraform Labs, to face federal fraud charges in New York. The indictment alleges schemes to deceive investors and inflate Terraform’s cryptocurrency values, resulting in over USD 40 billion in losses. Kwon faces charges including commodities fraud, securities fraud, and money laundering conspiracy, with potential penalties up to 130 years.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-01-02•Iceland•Central Bank of Iceland
The Central Bank of Iceland released minutes from the Financial Stability Committee meetings in late 2024, detailing discussions on financial stability risks, macroprudential stance, and the countercyclical capital buffer, as well as economic developments, financial institutions' operations, and global uncertainties.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskPrudential risks
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2025-01-02•Chile•Chile Financial Market Commission
The Chile Financial Market Commission selected six joint research projects from eight academic proposals. Topics include payment card interchange rates, financial education impacts, gender differences in lending, insurance market sales, operational risk losses in banking, and REPO market development. Each project involves a CMF researcher and follows specific publication and collaboration guidelines without financial compensation.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-01-02•China•China Securities Regulatory Commission
The China Securities Regulatory Commission denied claims that regulators instructed listed companies to release negative news by 15 January and that insurance companies were making large-scale redemptions from public mutual funds. The Commission is investigating the source of these false rumors and plans to address the fabrication and dissemination of stock market misinformation.
SupervisionAlertsMarket abuse
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2025-01-02•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) highlighted its first-year achievements under President Roberto E. Silva, focusing on normalizing capital markets, aligning with international standards, and enhancing investor protection. Key developments include establishing the Registry of Virtual Asset Service Providers, issuing 55 General Resolutions, and coordinating with the Ministry of Economy and the Central Bank to ease foreign exchange constraints. CNV aims to support government innovation, remove obstacles, and issue new regulatory frameworks as needed.
Policy & regulationImplementation, projects & pilotsLeadership change and appointments
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2025-01-02•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has issued General Resolution No. 1045, extending the implementation of reporting regime changes from General Resolution No. 1033 to 16 January 2025. Resolution No. 1033 revises the information reporting framework for Settlement and Clearing Agents and Trading Agents, affecting client investments with CDI or CIE. It mandates continuous client information updates and due diligence by agents before processing orders on CNV-authorised markets.
Policy & regulationRules & requirementsRegulatory reporting
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2025-01-02•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) will shift from developing transition "building blocks" to addressing barriers in mobilizing capital for the net zero transition, emphasizing closing the investment gap. GFANZ will transition to an independent Principals Group to target capital mobilization barriers, prioritizing public-private partnerships and collaboration with multilateral development banks and governments.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-01-02•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission approved a new Public Company Accounting Oversight Board standard to withdraw inactive public accounting firms, ensuring the accuracy of the PCAOB’s register. The process is triggered if a firm fails to file annual reports and pay fees for two consecutive years, with a 60-day period to contest withdrawal. Out of 1,544 registered firms, 80 failed to meet these obligations and did not issue audit reports from January 2021 to August 2024.
Policy & regulationRules & requirementsAuditing
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2025-01-02•Moldova•National Bank of Moldova
The National Bank of Moldova detailed its communication strategy to enhance transparency and support financial stability, focusing on clear messaging to anchor inflation expectations. Objectives include improving public understanding of financial developments, increasing transparency in bank supervision, and promoting cashless payments. The strategy emphasizes two-way engagement, timely decision releases, and regular publication calendars for key reports and meetings.
Policy & regulationImplementation, projects & pilotsOther
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2025-01-02•Moldova•National Bank of Moldova
The National Bank of Moldova issued a Q&A note on foreign exchange rules for individuals and residents, covering exchange locations, rate setting, and authorisation for cross-border cash movements and capital transactions. Licensed banks and exchange units set their own rates, while the official Moldovan leu (MDL) rate is for accounting purposes only. The note outlines cash movement limits, authorisation for transactions above EUR 10,000, and the National Commission for Financial Market's role in consumer protection.
Policy & regulationGuidance & interpretationCross-border payments
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2025-01-02•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority published its Monthly Authorised Deposit-taking Institution Statistics for November 2024, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-01-02•India•Securities & Exchange Board of India
SEBI has introduced free tools and educational resources on its investor website and the SEBI Saarthi app to enhance investor awareness and decision-making. Features include a video learning repository, an interactive "Spot a Scam" tool, a "Financial Health Checkup" questionnaire, and 24 financial calculators. The Saarthi app also offers modules on KYC, mutual funds, ETFs, and investor grievance redressal.
Financial literacy & educationFinancial literacy and education
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2025-01-02•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) has withdrawn the recognition of Indian Commodity Exchange Limited (ICEX) as a recognized exchange. This follows ICEX's voluntary request to surrender its recognition, with SEBI's order permitting the exit dated December 10, 2024, and the withdrawal notification issued on December 26, 2024.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-01-02•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported November 2024 insurance industry figures, with a combined pre-tax profit of TWD 351.3 billion. Life insurers saw a significant increase in pre-tax profit to TWD 326.3 billion, while non-life insurers reported TWD 25.0 billion. The Taiwan dollar depreciated 5.31% against the US dollar, impacting life insurers' foreign exchange valuation reserve, resulting in a net effect of TWD -267.9 billion from exchange and hedging activities.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-02•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that foreign-currency denominated life insurance products generated new policy premium revenues of approximately TWD 239.814 billion as of end-October 2024, marking a 6% year-on-year increase. Investment-linked products contributed TWD 38.424 billion, a 34% decrease, while traditional insurance products rose 21% to TWD 201.390 billion.
Data & statisticsFinancial and market indicators
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2025-01-02•United States•U.S. Department of the Treasury
The U.S. Treasury and Federal Housing Finance Agency amended the Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac to support an orderly release from conservatorship. The amendments restore Treasury's consent rights for release and receivership actions and require public input on market impacts before termination. Technical updates include revised definitions and removal of certain business restrictions, while capital retention and dividend payments remain unchanged.
Policy & regulationRules & requirementsRecovery and resolution
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2025-01-02•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
The Trinidad and Tobago Ministry of Finance has extended the Tax Amnesty and National Insurance Amnesty deadlines from 31 December 2024 to 31 January 2025. The Tax Amnesty waives penalties and interest on taxes, including Individual Income Tax and Corporation Tax, for unpaid amounts up to 31 December 2023. The National Insurance Amnesty applies to interest and penalties on contributions paid before 1 October 2024, with conditions for employers registered before this date.
Policy & regulationRules & requirementsOther
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2025-01-02•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority has updated its regulatory framework to align with the Basel Committee on Banking Supervision’s Core Principles for effective banking supervision. These enhancements, following Consultation Paper No. 10 of 2024, include amendments to the FSRA Regulations, FEES Rules, and related FSRA Rules to simplify, clarify, and correct existing requirements.
Policy & regulationRules & requirementsRegulatory burden
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2025-01-02•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Abu Dhabi Global Market Financial Services Regulatory Authority updated its framework to align with the Basel Committee's Core Principles for effective banking supervision. Following Consultation Paper No. 10 of 2024, these enhancements aim to simplify, clarify, and correct existing requirements based on practical experience. Amendments were made to FSRA Regulations, FSRA Rules, and FEES Rules, with revised texts published.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-01-01•South Africa•National Credit Regulator
The National Credit Regulator (NCR) of South Africa issued guidance urging consumers to borrow responsibly post-festive season, highlighting risks of costly borrowing from unregistered credit providers. The guidance, part of the "Spend Wisely/Borrow Wisely" campaign, advises on budgeting, timely debt repayment, and checking credit reports, noting that 20.77 million of the 28.15 million credit-active consumers are struggling with debt repayment.
Policy & regulationGuidance & interpretationConsumer and investor protectionFinancial literacy and education
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2025-01-01•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan will adopt IFRS Sustainability Disclosure Standards, including IFRS S1 and IFRS S2, for listed companies starting July 2025. IFRS S1 mandates disclosure of sustainability-related financial risks, while IFRS S2 focuses on climate-related risks. Unlisted licensed public interest companies will be included in 2027, with auditor assurance required from the second year of reporting.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-01-01•Cyprus•Ministry of Finance (Cyprus)
Cyprus’s Ministry of Finance reported that Finance Minister Makis Keravnos met with Central Bank of Cyprus Governor Christodoulos Patsalides.
Other
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2025-01-01•Germany•BaFin
Germany's BaFin allows cooperative credit institutions not directly supervised by the ECB to classify new member shares as CET1 and repay member capital from terminated shares under a standardised approach. CET1 recognition requires compliance with Articles 28 and 29 of the Capital Requirements Regulation, with repayments limited by a 0.5% threshold relative to end-2024 CET1. Institutions must report newly issued and terminated shares to BaFin and the Deutsche Bundesbank, with the order effective until 31 December 2025.
Policy & regulationRules & requirementsCapital adequacy
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2025-01-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia released a working paper analyzing retail payment behavior and the impact of mobile wallets on payment preferences, highlighting regional and individual variations in adoption and use. The study, using spatial econometric models and machine learning, finds that mobile wallets complement traditional payment methods and are influenced by factors such as income, age, gender, and digital connectivity.
Monetary policyOtherMonetary policy decisions and developments
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2025-01-01•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin article assesses counterparty credit risk (CCR) from banks' derivatives and securities financing transactions, noting significant concentration in global systemically important and investment banks. Despite CCR being limited to EUR 340 billion or 3.9% of risk-weighted assets, the article warns of potential liquidity strains from margin calls and stresses the importance of granular data and cross-jurisdictional cooperation to monitor interconnectedness. A contagion simulation shows substantial losses, especially for investment banks and asset managers, under system-wide defaults of non-bank financial intermediation counterparties.
ResearchCredit riskMacroprudential policy and tools
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2025-01-01•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin explores non-bank financial intermediation in euro area government bond repo markets, focusing on central clearing's benefits and trade-offs. With 60% already centrally cleared, marginal benefits appear limited. Alternatives like entity-based measures and activity-based tools are also considered, impacting market functioning and monetary policy.
ResearchMarket developmentFinancial stability and systemic risk
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2025-01-01•India•Reserve Bank of India
The Reserve Bank of India clarified that the National Bank for Financing Infrastructure and Development (NaBFID) can participate in financial markets as an All-India Financial Institution (AIFI), engaging in credit default swap and repo transactions. This update to the Credit Derivatives Directions and Repurchase Transactions Directions confirms NaBFID's regulation under the Reserve Bank of India Act, 1934. The changes are effective immediately.
Policy & regulationRules & requirementsLicensing framework and process
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa has issued its 2025 technical assistance report, identifying AML/CFT/PF support needs across 17 member states and guiding coordination ahead of the third round of mutual evaluations. The report finds that technical compliance ratings outpace real-world effectiveness and points to common needs in training, equipment, risk assessments, beneficial ownership, virtual assets and enforcement capacity. It is designed to help GIABA and partners target assistance to deficiencies identified in mutual evaluations and national risk assessments.
Policy & regulationImplementation, projects & pilotsAML and CFTSupervision process and methodologies
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa has issued Nigeria's 2024 third enhanced follow-up report reviewing progress since the August 2021 mutual evaluation report and assigning technical compliance re-ratings where sufficient progress has been shown.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa has published Senegal’s sixth enhanced follow-up report on its anti-money laundering and counterterrorist financing technical compliance. The report reviews progress against recommendations considered for re-rating and assigns new ratings where satisfactory progress has been shown.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa published Sierra Leone’s fourth enhanced follow-up report reviewing progress on the Financial Action Task Force technical compliance recommendations being re-rated since the December 2020 mutual evaluation.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa is recruiting a permanent Senior Law Enforcement Officer at P3/P4 for its Evaluation and Compliance directorate in Dakar, with a 7 March 2025 application deadline. The role centers on mutual evaluations, follow-up reviews, law enforcement capacity building and input into FATF-related standards and GIABA procedures. Applicants must be ECOWAS nationals and meet specified legal qualifications, experience and language requirements.
Institutional developmentWorkforce & recruitmentAML and CFTCompliance
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Intergovernmental Action Group against Money Laundering in West Africa has invited firms to bid for interpretation and translation services for its African Development Bank-funded AML/CFT capacity-building project in 10 West African transition states. The contract covers English, French and Portuguese support for project events and documents, with at least 12 language experts required. Firms must show AIIC membership and at least four years of relevant experience, and expressions of interest are due by 10 February 2025.
Institutional developmentProcurementAML and CFT
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2025-01-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa has issued its 2024 mutual evaluation report on Sao Tome and Principe, assessing the country’s AML/CFT framework as of the 12–26 June 2023 on-site visit against the FATF 40 Recommendations and system effectiveness, and including recommendations for improvement.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-01-01•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released Circular No. 1207, amending regulations for banks and non-bank financial institutions regarding eligible counterparties for Bangko Sentral issued securities. The update specifically pertains to trust entities transacting through investment management accounts.
Policy & regulationRules & requirementsOther
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2025-01-01•Iraq•Central Bank of Iraq
The Central Bank of Iraq has completed its transition of external transfer activities from an electronic platform to Iraqi banks using foreign correspondent banks, aligning with international practices. The Central Bank will continue to support Iraqi banks in enhancing governance, compliance, and anti-money laundering efforts to bolster confidence among international and regional banks.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-01-01•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has amended Vietnam’s Securities Law under Law No. 56/2024/QH15, effective 1 January 2025, with some requirements deferred to 2026. Key changes include expanding the definition of professional securities investors, adjusting conditions for public offerings, and strengthening public company rules. Amendments also clarify market infrastructure, including establishing a central counterparty in the cash securities market.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-01-01•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has issued the International Financial Services Centres Authority (Informal Guidance) Scheme, 2024, effective from 1 January 2025. The scheme outlines a framework for seeking informal guidance, with submission formats available on the IFSCA website.
Policy & regulationGuidance & interpretationRegulatory burden
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC) participated in the 50th IOSCO Annual Meeting in Doha, engaging in discussions on ISSB sustainability disclosure standards, crypto-asset frameworks, and private finance vulnerabilities. The event included an IOSCO-OECD roundtable and sessions on retail investor protection. Egypt was announced as the host for the 51st IOSCO Annual Meeting in 2026.
Policy & regulationCooperationCross-border cooperation
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia's Director General, Sou Socheat, led a delegation to the 43rd ASEAN Capital Markets Forum Chairs' Meeting and the ACMF International Conference 2025 in Vientiane, Lao PDR. The participation was approved by Deputy Prime Minister and Minister of Economy and Finance Aun Porn Moniroth.
Policy & regulationCooperationCross-border cooperation
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC) has released the list of candidates for the 29th Examination in the Securities Sector. The examination will take place on 9 May 2025 in Phnom Penh.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia has approved ACLEDA Bank Plc’s prospectus, authorizing the bank to offer debt securities to qualified investors under Decision No. 07/25 SERC/SSR.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia officiated the listing of SchneiTec Dynamic Co., Ltd., a special purpose vehicle for a 60MW solar power plant. It approved the issuance of a 15-year green infrastructure bond to qualified investors, aiming to raise KHR 196.64 billion (USD 49.16 million).
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, alongside Royal Group Securities Plc., hosted its inaugural investor forum on "Long Term Investment in Securities Market" for civil servants. The event, held at the Non-Banking Financial Services Authority Building, attracted approximately 100 participants and featured speeches from SERC Director General Sou Socheat and other senior officials.
Financial literacy & educationFinancial literacy and education
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia supported a training programme on "Intelligence Investment" for professors and students, organized by Acleda Securities Plc with the Cambodia Securities Exchange and other partners. Presided over by SERC Deputy Director Seang Thirith, it covered investment basics, strategies, mutual fund investing, and trading account opening. About 100 participants attended, with speakers from SERC, CSX, Acleda Securities, and Banjaran Asset Management.
Financial literacy & educationFintech and insurtechFinancial literacy and education
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2025-01-01•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, in partnership with Canadia Securities Co., Ltd., hosted an investor education seminar in Phnom Penh on 20 March 2025. The event, supported by the Cambodia Securities Exchange and De Montfort University Cambodia, was attended by around 70 participants and chaired by SERC Director General Sou Socheat.
Financial literacy & educationFinancial literacy and education
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2025-01-01•United Kingdom•Bank of England
The Bank of England released Staff Working Paper No. 1,109, analyzing the impact of monetary policy on inflation expectations in the UK. The study finds that tightening shocks generally lower inflation expectations, with varied responses among households, firms, and financial markets. The paper highlights monetary policy's role in stabilizing inflation expectation dispersion 12–18 months post-shock.
Research
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2025-01-01•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC has released draft rules to enhance fundraising and investment opportunities while strengthening investor protections. Key areas include oversight of crypto-asset service providers, Philippine Green Equity, seasoned issuer designation, and Sukuk issuance guidelines. The proposals aim to address consumer harms, systemic risks, and support sustainable and Islamic finance.
Policy & regulationRules & requirementsMarket developmentRegulatory burden
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2025-01-01•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority released its December 2024 report on share buy-back programmes and liquidity contracts, as per Decree No 2-02-556. Maroc Telecom reported buying 382,000 shares and selling 8,406 shares, while BCP's programme, running until October 2025, saw 107,884 shares purchased and 1,381,072 sold in December.
SupervisionRegulatory reportingOther
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2025-01-01•United Kingdom•HM Treasury
HM Treasury will maintain the exemption for pension funds from the clearing obligation for certain derivatives, with secondary legislation to prevent its expiration in June 2025. This decision follows stakeholder feedback on derivatives in liability-driven investment strategies and concerns over liquidity pressures from mandatory clearing. HM Treasury will review the policy with UK regulatory authorities.
Policy & regulationRules & requirementsCCPs
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2025-01-01•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini revised its inflation projections for 2025–2027, citing higher food inflation due to adverse weather and risks from exchange rates and oil prices. The 2025 annual inflation forecast increased to 5.25% from 4.87%, with quarterly forecasts also adjusted upwards. For 2026 and 2027, forecasts were set at 4.80% and 4.57%, respectively, reflecting lower oil price assumptions and a slightly improved rand.
Monetary policyMonetary policy assessments & outlooks
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2025-01-01•United States•Federal Reserve Board
The Federal Reserve Board released a research paper developing predictive models for financial distress and closure of US colleges from 2002 to 2023. The study highlights pervasive missing data among institutions that close and demonstrates that machine learning models using comprehensive data outperform existing federal screening tools. Simulations suggest that demographic shifts could significantly increase college closures.
ResearchFinancial stability and systemic risk
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2025-01-01•United States•Federal Reserve Board
The Federal Reserve Board released a research paper introducing a framework for estimating time-varying impulse response functions in structural vector autoregressions using external instruments. The approach enhances kernel-based estimators for nonparametric time variation and provides asymptotic distributions, remaining usable with weak instruments. An empirical example evaluates the changing impact of global oil supply news shocks on US industrial production.
ResearchOther
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2025-01-01•United States•Federal Reserve Board
The Federal Reserve Board released research analyzing the impact of the Volcker Rule on trading revenue at the 21 largest US trading firms during the COVID-19 crisis. The study found that trading profits aligned with volume-driven fees and widening bid-ask spreads, suggesting the rule contributes to financial stability and reduced market shock exposure.
ResearchTradingPrudential risksFinancial stability and systemic risk
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2025-01-01•Australia•Department of Treasury (Australia)
Australia's Department of the Treasury proposed the Scams Prevention Framework (SPF) after introducing the Scams Prevention Framework Bill 2024. The SPF mandates enforceable obligations on banks, digital platforms, and telecommunications providers to prevent, detect, and disrupt scams, with penalties up to AUD 50 million for non-compliance. It also establishes mechanisms for intelligence sharing and consumer redress, including a single external dispute resolution avenue via the Australian Financial Complaints Authority.
Policy & regulationGuidance & interpretationFraud and scams
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2025-01-01•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin outlines a framework to assess financial stability risks from leveraged alternative investment funds (AIFs), highlighting hedge funds and liability-driven investment (LDI) funds as most vulnerable. Using AIFMD, EMIR, and SFTR data, it reveals LDI funds' sensitivity to interest rate shocks and significant leverage in relative value hedge funds. Stress tests indicate substantial potential losses for LDI funds under interest rate shifts, with a broader European Systemic Risk Board analysis forthcoming.
Research
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2025-01-01•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin evaluates the Financial Stability Board's proposed minimum haircut framework for non-centrally cleared securities financing transactions, finding it would reduce leverage among euro area non-bank financial intermediaries. The analysis shows a 13% reduction in leverage on repo, with the largest borrowers experiencing a 42% decrease. The impact varies, with smaller declines for entities at the 75th and 90th percentiles.
ResearchMacroprudential policy and tools