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2026-05-20•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency announced the winners of its “Be the Hero of Your Story – Don’t Fall for Fraud!” competition for primary school students, aimed at raising awareness of financial fraud risks and online scams. Hanfa received 28 entries and assessed them on creativity, innovation and how effectively they addressed financial fraud and protection of personal financial assets, with the award ceremony part of its broader financial literacy and digital safety programme.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Capital Markets Authority has referred 17 suspects linked to Cenomi Retail, including former and current board members and senior finance staff, to the Public Prosecution, which filed a penal case before the Committee for Resolution of Securities Disputes for suspected breaches of the Capital Market Law, Market Conduct Regulations and Companies Law. A forensic inspection indicated suspected creation of a false and misleading impression of the company’s security value and misuse of company funds and delegated authority for personal benefit. The committee will publish violators’ identities once decisions are final, and harmed investors may seek compensation after filing a complaint.
EnforcementInvestigations & enforcement actionsAuditingCorporate governance
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority announced that Sukuk Capital Company has completed the commencement of business requirements to conduct custody activity in the securities business. The custody activity operates under a licence approved on 6 November 2025.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-20•Spain•Bank of Spain
The Bank of Spain will host a high-level international meeting in Madrid on 21–22 May on water and financial stability, with the OECD, the Network for Greening the Financial System and CDP. As part of the OECD Roundtable on Financing Water, it will examine how water-related shocks affect the financial system, including supply chain vulnerabilities, supervisory responses, fiscal and sovereign risk, insurance protection gaps and the pricing of water risks in transition pathways, with sessions livestreamed.
Policy & regulationCooperationClimate risk and sustainable financeFinancial stability and systemic risk
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2026-05-20•Serbia•National Bank of Serbia
The National Bank of Serbia reviewed global financial markets for 11–15 May 2026, highlighting a stronger United States dollar, higher United States and German government bond yields, and diverging commodity prices as gold fell and Brent oil rose. The report attributes these moves to uncertainty over the Middle East conflict and stronger-than-expected United States inflation data, and notes that the National Bank of Romania kept its policy rate at 6.50% amid elevated inflation and weak first quarter GDP in emerging European economies.
OtherFinancial and market indicatorsForeign exchange policy and markets
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2026-05-20•Comoros•Central Bank of Comoros
The Central Bank of Comoros and the Ministry of Finance have launched a Treasury bill market and published a quarterly issuance calendar. The new market is intended to broaden government funding sources and support more modern public debt management. The central bank will manage the market infrastructure.
Policy & regulationImplementation, projects & pilotsMarket development
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2026-05-20•Global•Bank for International Settlements
The Bank for International Settlements has published a working paper on how private sector agents learn a new asymmetric average inflation targeting strategy at the effective lower bound. Learning is concentrated around liftoff, can be delayed or halted by recessionary or large inflationary shocks, and even partial learning shortens effective lower bound episodes and improves macroeconomic outcomes relative to the old regime. Using the post-Covid United States as an illustration, the authors infer large monetary policy shocks that kept rates below the new rule’s prescriptions and shaped the learning process.
Research
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2026-05-20•Finland•Bank of Finland
The Bank of Finland’s annual assessment finds Finland’s financial system remains stable despite market shocks from international conflicts and a prolonged housing market downturn linked to higher interest rates. It highlights risks from a weaker economic outlook, rising cyber and hybrid threats, and warns that forthcoming looser rules for mortgages and housing company loans could increase housing market vulnerability. The assessment calls for deeper European capital markets, a common European deposit insurance scheme and less reliance on non-European ICT providers.
Research
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2026-05-20•Portugal•Portuguese Insurance Regulator (ASF)
At Seguros Summit 2026, the President of the Portuguese Insurance Regulator stated that longevity is a major challenge and opportunity for the insurance sector, requiring insurers to rethink their role and adapt products and services to an ageing population. He said the regulator aims to create regulatory conditions that enable market responses to longevity-related needs while ensuring developments remain safe, fair and sustainable.
Policy & regulationReform agendas & prioritiesOther
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2026-05-20•Norway•Norwegian Finanstilsynet
The Norwegian Finanstilsynet will require insurance undertakings’ Solvency II quantitative reporting and EIOPA reporting for the 25 largest pension funds for the 30 June 2026 reference date to be submitted via its new e-Reg reporting solution, with testing already available. Solvency II reports must use EIOPA taxonomy version 2.8.2 in XBRL and pension fund reports taxonomy version 2.9.0 in XBRL, and e-Reg will require prescribed file naming. During 2026, the Altinn Preparer/Submitter role will be discontinued and replaced by access packages.
SupervisionRegulatory reporting
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2026-05-20•Ghana•Ministry of Finance (Ghana)
The Ministry of Finance (Ghana) has established an inter-agency Technical Working Group to develop a national framework for managing unclaimed funds and other dormant assets across banking, pensions, insurance, securities and e-money services. The group will replace current estimates with verified sectoral data, address divergent dormancy and reporting practices, and extend coverage to assets including lottery and gaming winnings, court-awarded funds, intestacy-related property, public sector salary arrears and real estate.
Policy & regulationCooperationOther
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2026-05-20•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro reported that a mission by experts from Germany’s Federal Financial Supervisory Authority under the Twinning project has strengthened its risk-based insurance supervision in line with the Solvency II framework. The work focused on assessing insurers’ risk exposures, risk management quality and capital adequacy as part of broader efforts to modernize the regulatory framework and align supervision with European standards.
SupervisionCooperationSupervision process and methodologies
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2026-05-20•Albania•Bank of Albania
In a keynote address, Bank of Albania Deputy Governor Ahmetaj outlined a vision of sustainable, client‑centric microfinance focused on financing micro and small enterprises, backed by caps on effective interest rates and penalties, stronger risk management and transparency, more selective licensing, and supervisory action against weak entities. He warned that excessive consumer credit heightens over‑indebtedness and reputational risks, and stressed that digital financial services must rely on robust data, sound credit assessment, qualified staff and ongoing supervision. The Bank is considering legislation to clearly separate non‑bank lending from non‑performing loan management to reduce conflicts of interest and improve transparency.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2026-05-20•Macao•Monetary Authority of Macao
The Monetary Authority of Macao held a promotion session in Xiamen on the advantages and development opportunities of Macao’s investment fund sector, concluding a mainland China roadshow linked to the implementation of Macao’s Investment Funds Law and related tax incentives. The initiative targets attracting qualified investment fund management companies to establish operations in Macao, with the authority stating it will continue promotional efforts through various channels.
Policy & regulationImplementation, projects & pilotsMarket development
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2026-05-20•Iceland•Central Bank of Iceland
Central Bank of Iceland’s Monetary Policy Committee lifted the seven-day term deposit rate by 25 bp to 7.75 % in a second straight hike, citing persistent domestic pressures, higher energy costs and inflation at 5.2 %. The MPC warned it may tighten further despite forecasts for weaker GDP growth and rising unemployment to steer inflation back to the 2.5 % target.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Mauritius•Bank of Mauritius
Bank of Mauritius raised its Key Rate 25 bp to 4.75 %, the first hike since February 2025, citing energy-led price pressures and geopolitical risks and vowing to continue draining excess liquidity and watch foreign-exchange markets to anchor inflation expectations. It now sees 2026 headline inflation at about 5.5 % and real GDP growth easing to 2.8 %, says banks remain well capitalised and is prepared to meet between scheduled sessions if conflict spillovers worsen.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Indonesia•Bank Indonesia
Bank Indonesia raised the BI-Rate by 50 bp to 5.25 %, also lifting the Deposit and Lending Facility rates to 4.25 % and 6.00 %, marking its first hike since 2025 to defend the rupiah and anchor 2026-27 inflation within the 2.5 ± 1 % target. The central bank signalled a persistently tight stance, combining stepped-up on- and offshore FX interventions, higher SRBI yields and liquidity support to attract portfolio inflows and sustain growth.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore reported the conviction and sentencing of Tan Chun Yong and Xie Jianfeng in separate Securities and Futures Act cases for false trading and insider trading. Tan, a former trading representative, received 10 weeks’ imprisonment for abetting false trading in KTL shares and enabling unauthorised trading through six client accounts, while Xie, a former finance department general manager, was fined SGD 200,000 for insider trading in Sasseur REIT units and paid additional amounts in profit disgorgement and a voluntary charity contribution.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-20•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau (Hong Kong) reported that the Pilot Green and Sustainable Finance Capacity Building Support Scheme has approved over 10,400 applications with reimbursements exceeding HKD 59 million, providing up to HKD 10,000 per applicant. More than 60 per cent of beneficiaries are practitioners from banking, asset and wealth management, insurance and accounting, with the remainder comprising students and graduates, and the scheme now covers 117 programmes and qualifications. The Government will continue to review implementation and promote participation, with the scheme extended to 2028.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeFinancial literacy and education
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2026-05-20•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic reported that Chairperson Almaz Baketaev held an open dialogue with commercial banks to gather feedback on regulatory burden, digitalisation, consumer protection, new technological solutions and central bank–market interaction. The meeting established a basis for continued engagement, with both sides expressing readiness to work jointly on solutions for the sustainable development of the financial system.
SupervisionCooperationRegulatory burdenMarket development
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2026-05-20•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic adopted a resolution setting a minimum working capital requirement for exchange bureaus to support sector development and strengthen operating requirements. A second resolution amends licensing rules for exchange bureaus and microfinance organizations to align with international standards, revise conversion timelines for microcredit entities and credit unions, and adjust conditions for lifting restrictions on microfinance companies’ term deposit licenses.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-20•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 approved Galimzhan Adilbekovich Shishingarin as Deputy Chairman of the Management Board and member of the Management Board of Kaspi Bank JSC. The decision is recorded in protocol No. 29/BVU/T dated 14 May 2026.
Institutional developmentLeadership change & appointmentsLicence approval
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2026-05-20•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Murat Tursynuly Sharipov as a member of the executive body in the securities market. The decision is set out in Protocol No. 261/RCB dated 19 August 2025.
Institutional developmentLeadership change & appointmentsLicence approval
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2026-05-20•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan has issued a draft resolution on operating a digital platform for collective settlement of unsecured consumer bank loans and microcredit agreements. The draft defines interaction among borrowers, creditors and other participants, and sets requirements for user identification, data protection, information security, system integration, information storage, participant roles, access procedures, monitoring obligations and platform continuity.
Policy & regulationRules & requirementsLendingPrudential risks
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2026-05-20•Qatar•Qatar Central Bank
The Qatar Central Bank announced that the Eidiya ATM service will be available from Thursday, 21 May 2026. The service will dispense QR5, QR10, QR50 and QR100-200 denominations.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-20•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission and the Anti-Money Laundering Department of the State Bank of Vietnam held a training conference for securities and fund management companies on reporting obligations and updated rules on anti-money laundering, terrorist financing and proliferation financing. The event supported Vietnam’s national action plans ahead of the Asia-Pacific Group on Money Laundering’s third mutual evaluation and highlighted recent legal reforms, including Decree 306/2025/ND-CP on sanctions and work on additional sanctions for a draft decree on crypto assets and the crypto asset market.
Policy & regulationGuidance & interpretationAML and CFT
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2026-05-20•United Arab Emirates•Dubai International Financial Centre
The Dubai International Financial Centre announced that Gordian Capital has received Dubai Financial Services Authority approval to expand its institutional cross-border fund platform and solutions into Dubai from a new DIFC office, adding regulated fund infrastructure for institutional managers, asset owners and investment professionals in the Middle East. The licence permits Gordian to manage collective investment funds, advise on financial products, arrange custody and investment deals, manage assets within or from DIFC, and operate a fund platform for experienced investment professionals.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-20•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission, together with the Securities and Exchange Commission and the Bank of Thailand, launched the third Responsible Voices for Finfluencer programme to improve the quality of financial, investment and insurance content by online creators. The initiative trains selected finfluencers to provide accurate information, understand the impact of online communication and work with licensed businesses, with successful participants receiving certification and recognition by the Securities and Exchange Commission.
Financial literacy & educationOther
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2026-05-20•Albania•Ministry of Finance (Albania)
Albania’s Finance Ministry reported that Minister Petrit Malaj joined the fifth international No Money for Terror ministerial conference in Paris, reaffirming Albania’s commitment to combating terrorist financing and protecting financial system integrity. Albania is strengthening anti-money laundering and counter-terrorist financing by investing in institutional capacity, modernising financial monitoring and intelligence, expanding expertise in crypto assets and digital finance, and aligning its legal and regulatory framework with international and EU standards.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2026-05-20•Europe•European Central Bank
The European Central Bank’s March 2026 survey on euro‑denominated securities financing and non‑centrally cleared OTC derivatives showed a slight easing in overall credit terms between December 2025 and February 2026, especially for banks and dealers, driven by better market liquidity, competition and counterparty strength. In securities financing, funding demand, offered amounts and maturities rose, haircuts were stable, and financing rates and spreads increased. In non‑centrally cleared derivatives, initial margins fell slightly and non‑price terms were largely unchanged. Respondents expected a further slight easing in funding conditions from March to May 2026, while compared with a year earlier non‑price terms were broadly stable and price terms had tightened.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan reported a Q1 2026 current account surplus of USD 62.53 billion, USD 32.84 billion higher year-on-year, driven by a USD 30.97 billion increase in the goods trade surplus to USD 58.01 billion as exports benefited from emerging technology applications. The financial account showed a net asset increase of USD 64.86 billion, reflecting higher outward and inward direct investment, increased overseas portfolio holdings by residents, reduced Taiwanese equity holdings by foreign investors, and higher overseas deposits and trade credit, alongside a USD 4.66 billion decline in reserves.
Data & statisticsBalance of payments and other external statistics
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2026-05-20•Czech Republic•Czech National Bank
At the European Supervisor Education Initiative Conference, Czech National Bank Deputy Governor Jan Frait said the CNB backs simplifying financial regulation but warned against using it to reduce bank capital requirements, highlighting the bank’s repeal of 36 decree rules and proposals to remove statutory duties for financial market participants. He argued that extra regulation is needed for a sovereign risk tool to address credit and concentration risks from banks’ government bond holdings, noting that prior EU work on sovereign exposure treatment stalled at ECOFIN and is unlikely to resume soon.
Policy & regulationRules & requirementsRegulatory burden
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2026-05-20•France•Ministry of Economics & Finance (France)
The French Ministry of Economics and Finance released the concluding readout of the G7 finance ministers and central bank governors meeting under France’s presidency, highlighting efforts to reduce global imbalances, deepen partnerships with developing countries, and strengthen critical minerals supply chains. Discussions covered coordinated responses to global economic challenges, the impact of the Middle East crisis on trade and commodity prices, and continued support for Ukraine through sanctions on Russia and financial assistance. The ministry also cited the agreed G7 Finance communiqué, a joint statement on mobilising domestic public resources, and a communiqué on the global economy with partner countries.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2026-05-20•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance reported first-quarter 2026 GDP growth of 3.6 percent year on year and 1.7 percent quarter on quarter, supported by stronger corporate earnings, domestic demand, tax receipts and job creation. It cited an improved external position, with South Korea’s export ranking rising to fifth, a record current account surplus of USD 73.8 billion, KOSPI surpassing 7000 and increased foreign purchases of Korean Treasury bonds after inclusion in the World Government Bond Index. The ministry said an oil price ceiling and fuel tax cuts helped keep April consumer inflation at 2.6 percent.
Data & statisticsEconomic data and developments
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2026-05-20•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy & Finance said it remains fully prepared for foreign exchange market volatility linked to external uncertainties, including the Middle East war, and will act as needed while monitoring markets around the clock to curb speculative trading. It reiterated its commitment to align Korea’s foreign exchange and capital markets with global standards and support larger long-term allocations by major institutional and pension investors.
Policy & regulationGuidance & interpretationGeopolitical risk
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2026-05-20•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has warned drivers aged 17 to 25 about “ghost broking” scams selling fake or invalid motor insurance via social media and messaging platforms, which can leave buyers uninsured and exposed to prosecution, fines and vehicle seizure. Citing research that nearly half of young drivers have bought insurance through these channels and many struggle to spot fake policies, the FCA urges caution over unusually cheap offers, advises use of its Firm Checker to verify firms, and is working with influencers to raise awareness.
SupervisionAlertsFraud and scams
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2026-05-20•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has opened its Scale-up Unit to solo-regulated firms, extending tailored regulatory support to fast-growing and innovative financial services businesses. The unit offers a dedicated contact point and practical assistance on regulatory processes, product development and policy changes, building on a pilot with six dual-regulated firms and feeding insights into wider policy and process improvements.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2026-05-20•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait will provide a temporary ATM service at four shopping malls to dispense new Kuwaiti dinar banknotes, particularly smaller denominations, ahead of Eid al-Adha. The central bank added that local banks have already received new notes and allocated 304 branches and 89 ATMs across Kuwait to meet customer demand.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2026-05-20•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority fined an insurance company SAR 875,000 for multiple anti-money laundering and counter-terrorist financing breaches. The deficiencies covered risk assessments, due diligence, monitoring, ongoing reviews and compliance management.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2026-05-20•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority fined an insurance company SAR 250,000 for multiple AML and CTF compliance violations. The deficiencies involved risk assessment and the monitoring and ongoing review of transactions and activities.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-20•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority and Ministry of Sport agreed to develop specialized coverage for sports facilities and athletes. Their work will include assessing potential mandatory insurance, improving products and facilitating policy verification through technical integration.
Policy & regulationCooperationRisk managementComplianceData management
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2026-05-20•Indonesia•OJK
The Indonesia Financial Services Authority has issued two capital markets regulations that overhaul the operating framework for securities firms and investment managers through tiered business categories, higher capital thresholds, and enhanced governance and risk management requirements. The new regime introduces three PEKU categories for underwriters and broker-dealers with minimum paid-up capital ranging from IDR 1 billion to IDR 110 billion and corresponding adjusted net working capital floors, and two MIKU categories for investment managers with higher capital and adjusted net working capital linked to assets under management.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-20•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas is consulting on proposed Guidelines to Assess the Fitness and Propriety of Compliance Officers, adding role-specific requirements to its existing framework for regulated functions. The draft sets out authorisation requirements, outsourcing considerations, and an annual attestation by supervised financial institutions, and clarifies expectations for governance, oversight, independence and resourcing of the compliance function.
Policy & regulationGuidance & interpretationFitness and propriety
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2026-05-20•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore outlined its sustainable finance agenda across blended finance under the Financing Asia’s Transition Partnership, market frameworks, and financing for carbon markets, adaptation and resilience. MAS reported expanded partnerships and an International Advisory Board under FAST-P, an ongoing review of the Singapore Asia-Taxonomy with the Singapore Sustainable Finance Association, and initiatives to grow carbon market financing, catastrophe risk solutions and adaptation and resilience guidance with regional and industry partners.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeCarbon markets
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2026-05-20•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore has revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd with effect from 14 May 2026, prohibiting it from providing digital payment token services under the Payment Services Act 2019. MAS cited serious breaches identified in a 2025 onsite inspection, including significant weaknesses in risk management and conflicts of interest, failures to meet outsourcing guidelines, and the provision of false or misleading information. BSQ, which reported no outstanding customer monies or assets, must obtain an auditor-issued closure certificate, and MAS is reviewing the responsibilities of its key officers.
EnforcementInvestigations & enforcement actionsOutsourcing and third-party risk management
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2026-05-20•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has launched a consultation on new regulations and guidelines for consumer credit to align with the new EU Consumer Credit Directive and proposed national legislation. The package would replace existing guidance on lending practice and creditworthiness assessments, introduce a new framework for mortgages and other consumer credits, and set detailed requirements for non-mortgage credit providers and intermediaries, including authorization and governance standards. The consultation also proposes amendments to the fit and proper regime and changes to rules on mortgage rate information and credit risk management.
Policy & regulationRules & requirementsLending
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2026-05-20•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has outlined how Sweden’s new consumer credit regime will bring ancillary credit intermediaries and creditors, including retailers offering credit as a secondary activity, under supervision from 20 November 2026, with oversight split between the Authority and the Swedish Consumer Agency. Allocation depends on firm size and product features, with larger ancillary intermediaries and certain ancillary creditors requiring authorisation under the new LVBK framework. The Authority has also consulted on proposed regulations and general guidelines for firms under its supervision ahead of LVBK’s expected entry into force.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2026-05-20•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has amended rules to recalibrate maximum exposure limits of Unit Investment Trust Funds (UITFs) to exchange-traded equity securities, allowing UITFs with equity exposures to invest up to 20% in a single entity and permitting equity index-tracking UITFs to follow actual index weights even if these exceed 20%. Any exposure above 15% and up to 20% must be solely in exchange-traded equity of the same issuer, with aggregate exposures to entities and related parties monitored under risk controls and breaches rectified within prescribed timeframes.
Policy & regulationRules & requirementsPrudential risksMarket risk and volatility
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2026-05-20•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has amended its risk-based capital framework to introduce a positive neutral countercyclical capital buffer for universal, commercial and digital banks and to lower the minimum Common Equity Tier 1 ratio to 4.5% from 6%, while keeping the minimum Tier 1 ratio at 7.5% and total capital adequacy ratio at 10%. The Monetary Board will set a uniformly applicable buffer rate of up to 2.5% of risk-weighted assets, with quarterly reviews, and the circular also adjusts distribution restrictions, aligns Internal Capital Adequacy Assessment Process and capital planning rules, updates the domestic systemically important bank framework, and recalibrates prudential real estate exposure limits.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-20•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission has revised its Guidelines on Recognized Markets for Digital Asset Exchanges, streamlining product approvals while raising standards for accountability, client asset safeguards, governance, financial stability, shareholding and management proficiency. DAX operators must join the Financial Markets Ombudsman Service in 2026, and the Commission is increasing enforcement against unregistered DAXs, including administrative actions and cooperation with technology companies to restrict promotions. The amendments took effect on 20 May 2026 after benchmarking, stakeholder engagement and public consultation.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2026-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan clarified that its pilot special tax regime for individual entrepreneurs does not cover non-commercial money transfers between individuals, including family transfers, which will not be taxed. The pilot reduces the tax rate for individual entrepreneurs from 6 percent to 3 percent with automatic calculation, provides 1 percent cashback to buyers to promote non-cash payments, and reiterates that electronic wallets, bank cards and other modern payment instruments remain safe and subject to full bank secrecy.
Policy & regulationGuidance & interpretationOther
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2026-05-20•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has asked investment firms, investment institutions, insurers and pension funds to complete national and European surveys on readiness for the move from T+2 to T+1 securities settlement on 11 October 2027. The AFM will use the national survey, shared with the European Securities and Markets Authority, to assess T+1 preparedness in the Netherlands, while the EU T+1 Industry Committee will use the European survey to track and publish anonymised, aggregated progress across the EU.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2026-05-20•Estonia•Central Bank of Estonia
The Central Bank of Estonia has published the results of the 2024 Household Finance and Consumption Survey, providing updated statistics on the assets and liabilities of Estonian households. The release, produced under a harmonised European Central Bank methodology, covers household real estate, vehicles, business assets, financial investments, liabilities, income and consumption, and is presented separately from economic policy communications.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Estonia•Central Bank of Estonia
The Central Bank of Estonia and Statistics Estonia reported that Estonian household net wealth rose by 16 percent in real terms between 2021 and 2024, with lower debt burdens, reduced financial fragility, and a shift from deposits toward shares and investment fund units. Median household net wealth reached EUR 103,300 in 2024, financial assets increased to 20 percent of total assets, bank deposits fell to 40 percent of financial assets, and household debt and wealth inequality remained broadly in line with euro area averages, though liquid assets stayed low.
Data & statisticsEconomic data and developmentsFinancial and market indicators
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2026-05-20•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic reported that staff from its Batken regional office delivered a financial literacy lecture to students at Bokonbaev Secondary School in Batken. The session covered prudent budget management, sensible use of money, payment system modernisation through QR technology, and prevention of offences linked to money mule activity.
Financial literacy & educationFinancial literacy and education
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2026-05-20•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority and the Hellenic Capital Market Commission have signed a memorandum of understanding establishing a formal framework for cooperation and mutual assistance in capital markets supervision. The MoU provides for structured information exchange, supports joint efforts to combat money laundering, terrorist and proliferation financing and sanctions evasion, and aims to enhance coordination on cross-border activity, investor protection and market integrity.
Policy & regulationCooperationCross-border cooperation
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2026-05-20•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority held an awareness session for market participants on Rwanda’s new virtual assets framework after Parliament approved the draft law on virtual assets business. The authority said the regime is designed to provide legal clarity, support safe innovation and protect investors while addressing money laundering and terrorism financing risks. Effective implementation will require technical capacity and coordination across regulators and other stakeholders.
Policy & regulationGuidance & interpretation
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2026-05-20•Jamaica•Bank of Jamaica
Bank of Jamaica’s Monetary Policy Committee kept the policy rate at 5.50 % on 20 May, judging it adequate to limit second-round inflation from conflict-driven oil shocks that could push headline inflation above the 4–6 % target in the June and September quarters. The Committee will maintain direct FX support to energy importers and pre-announced interventions, and signalled readiness to tighten if pressures persist ahead of its 29 June decision.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Australia•Department of Treasury (Australia)
The Australian Treasury has released the communiqué from the fourth First Nations Economic Partnership meeting, outlining next steps on the First Nations Economic Framework, access to capital, Specialist Investment Vehicles and employment initiatives. Working groups will advise on how Specialist Investment Vehicles can better support First Nations economic empowerment, co-design a First Nations Investment and Finance Council model, and develop measures to expand jobs and economic inclusion, including in the community-controlled sector.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-20•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance said Deputy Prime Minister Koo Yun-cheol joined the expanded G7 Finance Ministers and Central Bank Governors Meeting in Paris as an invited-country delegate, marking South Korea’s first participation in the full programme. Koo urged simultaneous policy action by surplus and deficit countries to address global current account imbalances, outlined South Korea’s strategy to boost domestic demand and investment, and called on the G7 to prioritise AI capacity building for developing countries. He also discussed supply chains, critical minerals, energy security, defence and advanced industries cooperation in bilateral meetings with Germany and Canada, and agreed with the Bank of Korea Governor to coordinate on domestic financial market stability.
Policy & regulationCooperation
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2026-05-20•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service published preliminary first quarter 2026 results for 20 domestic banks, reporting net income of KRW6.7 trillion, down 3.9 percent year-on-year as weaker non-interest income and lower profitability ratios offset higher interest income. Interest income rose 6.4 percent to KRW15.8 trillion on higher net interest margin and asset growth, while non-interest income fell 35.6 percent and return on equity declined to 8.68 percent. The Financial Supervisory Service said it will guide banks to strengthen loss-absorbing capacity and balance social responsibilities with sound profitability.
SupervisionRisk monitoring & watch pointsFinancial and market indicatorsActivity and performance reporting
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2026-05-20•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission announced government approval of revisions to enforcement decrees under the Financial Investment Services and Capital Markets Act and the Act on External Audit of Stock Companies, removing caps on whistleblower rewards and tightening penalties for accounting fraud. Rewards will be set at up to 30 percent of illicit gains or penalties and broadened to cover reports to other authorities and certain accomplices, while repeated accounting fraud will attract additional penalties and sanctions on individuals who benefited. The revisions take effect upon promulgation on May 26, with subordinate rules to be updated.
Policy & regulationRules & requirementsWhistleblowing
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2026-05-20•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador marked the second anniversary of its Mi Viaje Financiero bus, an interactive financial education initiative for students aged 13 to 18 and a priority component of the National Financial Education Strategy. The programme has travelled across all 14 departments and 96 districts, reaching 58,147 people to date, and in 2026 alone has visited 27 districts and 11,297 beneficiaries, using interactive stations and VR to teach savings, everyday expenses and digital payment tools.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has submitted to the Council of the European Union and the European Parliament a shortlist of candidates for its next Chair, with the incoming Chair envisaged to start on 1 November 2026. ESMA’s Board of Supervisors shortlisted Karen Dortea Abelskov and Carlo Comporti following an open, competitive process based on merit, skills, financial markets knowledge, and supervisory and regulatory experience.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-20•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions announced a media technical briefing on measures to be released in its second Quarterly Release Day of 2026, including draft prudential updates for deposit-taking institutions and banks on large exposure limits, liquidity, interest rate risk in the banking book, and crypto-asset exposures, plus an update to insurance Minimum Capital Test risk factors. OSFI will also provide status updates on an updated Guide to Intervention for Federally Regulated Deposit-Taking Institutions and on a crypto-asset exposure disclosure notice.
Policy & regulationRules & requirementsCapital adequacyLiquidity riskPrudential risks
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2026-05-20•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered the immediate suspension of four public offerings of Multiplike Plus FIDC quotas after identifying irregularities in the registration applications under CVM Resolutions 160 and 175. The suspension, which covers specified mezzanine and senior quota series of the fund’s first issuance, will remain in effect until 19 June 2026, after which the offerings will be withdrawn and registrations canceled if the issues are not remedied.
SupervisionInterventionsSecurities offerings and listings
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2026-05-20•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission deployed senior representatives to support victims of the recent train–bus collision, focusing on insurance rights and claims. The Office is coordinating with insurers to verify coverage, facilitate access to benefits for injured victims and families of those killed, and expedite compensation in line with policy terms, and will continue hospital visits and coordination with relevant agencies.
SupervisionInterventionsOther
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2026-05-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission and the Australian Accounting Standards Board are providing three free webinars and eight e-learning modules to build introductory capability on new sustainability reporting requirements. The material targets smaller and mid-size companies preparing climate-related financial disclosures, but is also relevant to other reporting entities and stakeholders such as directors, advisers, employees and creditors.
Policy & regulationGuidance & interpretationClimate risk and sustainable financeDisclosures
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2026-05-20•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, has urged Federal Reserve Vice Chair for Supervision Michelle Bowman to revise the 2026 bank stress testing scenarios to incorporate a 140 percent oil price shock before results are released in June. She argues that the Federal Reserve weakened the oil shock and other elements of the stress testing framework under industry pressure, undermining the tests’ forward-looking nature and leaving banks and the public less prepared for crises.
Policy & regulationRules & requirementsStress testing
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2026-05-20•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Jeanne Shaheen and Elizabeth Warren sent a letter to Secretary of State Marco Rubio and Treasury Secretary Scott Bessent seeking an explanation for the Trump Administration’s decision to remove sanctions on Delcy Rodríguez, acting President of Venezuela. They question how this move advances U.S. national security given Rodríguez’s alleged role in repression and United Nations findings that Venezuela’s repressive structures remain intact. The senators urge the administration to keep individuals responsible for serious human rights abuses, corruption, or antidemocratic acts out of the U.S. financial system.
Policy & regulationOtherSanctions list update
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2026-05-20•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission used IFAC CONNECT LATAM 2026 to restate its capital market priorities, emphasizing deregulation, modernization and stronger international coordination. President Roberto E. Silva said the programme includes over 150 general resolutions on foreign exchange restrictions, private and automatic offerings, the Fiscal Innocence Regime, the Big Bang reform package, Labor Assistance Funds, and PSAV and tokenization rules. Vice President Sonia Salvatierra stressed cooperation with bodies such as IOSCO and the IFRS Foundation to enhance harmonization, transparency and information quality.
Policy & regulationReform agendas & prioritiesAccounting and financial reportingMarket development
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2026-05-19•Haiti•Bank of the Republic of Haiti
The Bank of the Republic of Haiti reported on the third cohort of seven projects financed by its BRH Research and Development Fund, with total funding of HTG 66,029,374 across initiatives in waste management, agriculture, health and climate education. All projects began on 23 September 2025, have received a first disbursement with rates of 30–35 percent, and show execution progress between 30 and 75 percent, with the smart-bin waste and school-based climate science projects most advanced.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeGreen taxonomy
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2026-05-19•Dominican Republic•Superintendencia del Mercado de Valores de la Republica Dominicana
The Superintendency of the Securities Market of the Dominican Republic reported on an executive training session on regulatory compliance and bribery prevention, after which its senior leadership signed an institutional declaration of commitment. The initiative, aligned with ISO 37001 and ISO 37301, included a diagnostic review of the anti-bribery compliance system, consideration of recent legal changes such as the new Criminal Code, and planning for certification focused on public offerings, offence prevention and investigation, and procurement.
Institutional developmentCooperation & capacity buildingBribery and corruptionCapacity building
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2026-05-19•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic completed a seven-month training programme to help financial entities develop more inclusive offerings for underserved groups, focusing on women-led MSMEs, persons with disabilities, older adults and migrants. It highlighted a persistent gender credit gap, with women’s average outstanding balances at DOP 68,003 versus DOP 99,843 for men, and promoted greater use of data, sex-disaggregated metrics and performance management tools. The authority will continue supporting entities and identified the Financial Inclusion Ranking as a key instrument to track progress.
Policy & regulationImplementation, projects & pilotsFinancial inclusionFinancial literacy and education
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2026-05-19•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission held a workshop under its Financial Education Programme for 120 students at the Portuguese School of Luanda on how capital markets and the economy operate in everyday life. The session aimed to strengthen young people's understanding of Angola's financial market, the importance of money, saving and investment, and the commission's role as capital markets regulator and supervisor.
Financial literacy & educationFinancial literacy and education
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2026-05-19•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has promulgated a partial amendment to the designation of sustainability disclosure standards under Article 19-9(5) of the Cabinet Office Ordinance on corporate disclosure and published the consultation outcome. The agency reported no substantive comments and stated that comments unrelated to the amendment would not be addressed.
Policy & regulationRules & requirementsDisclosures
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2026-05-19•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has finalized amendments to the Cabinet Office Ordinance on Electronic Payment Instruments and related guidelines to expand foreign trust beneficiary rights qualifying as electronic payment instruments and exclude them from treatment as securities under the Financial Instruments and Exchange Act. The amendments clarify that business operators should assess foreign instruments by reference to the equivalence of the foreign legal framework with Japan’s regime, and the agency published a summary of consultation comments and responses.
Policy & regulationRules & requirementsPayments and payment systems
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2026-05-19•Japan•Japan Securities and Exchange Surveillance Commission
Japan’s Securities and Exchange Surveillance Commission recommended that the Prime Minister and the Financial Services Agency Commissioner take administrative action against Kurosai Co., Ltd. for breaching its duty of loyalty and advertising rules under the Financial Instruments and Exchange Act. An inspection found an adviser front‑ran client stock recommendations, internal controls over personal trading and conflicts of interest failed, and the firm used materially inaccurate website advertising about stock picks and investor gains.
EnforcementInvestigations & enforcement actions
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2026-05-19•Europe•European Parliament
The European Parliament has approved revised EU rules making foreign investment screening mandatory in all Member States for sensitive sectors such as defence, semiconductors, artificial intelligence, critical raw materials and financial services, including certain intra-EU transactions with non-EU ultimate owners. The framework streamlines national screening procedures, strengthens cooperation with the European Commission on cross-border security risks and commits the Commission to set conditions for foreign investment in specific strategic sectors. The regulation still requires Council approval before entering into force.
Policy & regulationRules & requirements
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2026-05-19•Europe•European Parliament
The European Parliament’s plenary agenda centres on a vote on an agreement with the Council to update EU rules on screening foreign investments in strategic sectors, including defence, semiconductors, artificial intelligence and critical raw materials. MEPs will also assess security implications of advanced AI models and question EU foreign policy chief Kaja Kallas on the EU strategy for crises in the Middle East, alongside votes and debates on EU steel safeguards, the Commission’s fertiliser action plan, EU governance, the EU response to reduced US military deployment in Europe and public-space security.
Policy & regulationRules & requirementsOther
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2026-05-19•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services released a resolution to bring the 21st Century ROAD to Housing Act to the House floor, including a House amendment to the Senate-passed version. The amended package restores community banking provisions, streamlines housing development and affordability, and adds measures to limit institutional investor competition with homebuyers, reform housing programs, support affordable and innovative housing, and strengthen renter and community protections.
Policy & regulationRules & requirementsOther
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2026-05-19•Global•International Monetary Fund
The International Monetary Fund published a technical assistance report on two 2023 missions to the National Bank of the Kyrgyz Republic, finding the central bank’s core macroeconomic projection tool broadly adequate for its inflation-targeting framework and noting only marginal forecast accuracy gains from recalibration. The report highlights a new forecast quality monitoring tool to track errors and provide early warnings, and recommends continued human resource development and retention of expertise.
ResearchOther
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2026-05-19•Canada•Department of Finance (Canada)
The Department of Finance Canada reported that Finance Minister François-Philippe Champagne attended the G7 Finance Ministers and Central Bank Governors meeting in Paris and held bilateral meetings to promote economic partnerships, trade and investment, while highlighting financing needs for defence, security, critical minerals and the proposed Defence, Security and Resilience Bank. He also participated in the fifth No Money for Terror Ministerial Conference, where Canada reiterated measures from Budget 2025 and the Spring Economic Update 2026, including funding for a new Financial Crimes Agency via Bill C-29, new measures targeting criminal abuse of cryptocurrency ATMs and money services businesses, and additional resources for the Financial Transactions and Reports Analysis Centre of Canada.
OtherCross-border cooperation
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2026-05-19•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic’s Pensions Superintendency (SIPEN) proposed amending the social security law to introduce a guaranteed minimum pension for workers who do not meet the 25-year contribution requirement, gradually increase mandatory contributions from the current 9.97% of salary, and diversify pension fund investments. Superintendent Francisco A. Torres said the International Labour Organization–based proposals could raise pensions by 25% to 50%, index the minimum pension to inflation every two years, and expand complementary pension plans for self-employed and variable-income workers with tax benefits and flexible use for housing, education and medical emergencies.
Policy & regulationReform agendas & priorities
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2026-05-19•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission issued a staff advisory outlining the Division of Enforcement’s new cooperation policy, which replaces prior advisories and introduces a potential declination route for respondents that voluntarily self-report, fully cooperate, remediate, and provide restitution or disgorgement. The advisory details how the division will assess cooperation and self-reporting and clarifies the levels of cooperation credit available in enforcement matters involving insider trading, fraud, manipulation, and other market abuse.
EnforcementEnforcement frameworkMarket abuse
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2026-05-19•Moldova•National Commission for Financial Markets
Moldova’s National Commission for Financial Markets clarified that Beeyond Investments SA is the only firm specifically authorised as an investment consultant, but 12 other licensed investment firms may also provide investment advice, rejecting monopoly claims. It stressed that actions against Double-Case targeted banned promotion of leveraged financial instruments rather than financial education, and noted that a draft law under consultation would regulate leveraged instruments and firms dealing in them by transposing Directive 2014/65 on markets in financial instruments.
Policy & regulationGuidance & interpretationLicensing framework and process
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2026-05-19•Zimbabwe•Securities & Exchange Commission of Zimbabwe
The Securities and Exchange Commission of Zimbabwe has appointed Commissioner Tichaona Mushambadope as acting chief executive officer with effect from 1 May 2026. He has served on the SECZim board since July 2024, and the commission said governance arrangements will apply during the interim tenure.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-19•Switzerland•Federal Department of Finance (Switzerland)
The Federal Department of Finance (Switzerland) announced that the fifth Point Zero Forum will be held in Zurich from 23 to 25 June 2026 as part of Swiss FinTech Week, focusing on how stablecoins, tokenisation, artificial intelligence and quantum technologies are reshaping financial infrastructure. Organised by the Swiss State Secretariat for International Finance and the Global Finance and Technology Network under the theme “A Financial System Rewired: Trust, Compliance and Protocols in a Shifting World”, the forum will examine regional models for next generation finance, control of new financial rails, Switzerland’s role in programmable finance and policy responses to monetary sovereignty.
Policy & regulationCooperationStablecoinsArtificial intelligenceQuantum computing
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2026-05-19•Colombia•Ministry of Finance & Public Credit (Colombia)
Colombia’s Ministry of Finance and Public Credit reported that the Council of State has provisionally suspended Decree 415 of 2026, halting the transfer of pension savings from private funds to Colpensiones and delaying resources for pension payments, with around 20,000 beneficiaries most immediately affected. The suspension stems from two court orders that together blocked more than COP 25 trillion in transfers for approximately 117,000 members, leaving Decree 415 fully suspended while the Council of State reviews its possible annulment.
Policy & regulationRules & requirementsOther
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2026-05-19•Canada•Ontario Securities Commission
The Ontario Securities Commission warned that Aksia Elite Circle, Blue-Rock Wealth and FXTampa are not registered to deal or advise in securities in Ontario and may pose a risk to investors. The alert forms part of the OSC’s investor warnings and alerts program, and the commission urged investors to verify registration, including via its Check Before You Invest and Crypto businesses pages, and to contact the OSC if approached by these or other unregistered firms.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-05-19•Zimbabwe•Zimbabwe Insurance and Pensions Commission
The Zimbabwe Insurance and Pensions Commission has launched a regulatory sandbox for insurance and pensions innovation and opened the Cohort Two application window from 15 May 2026 to 31 August 2026. The framework allows local and international applicants to test products, technologies and business models in a supervised environment before broader market rollout.
SupervisionInnovation & testingFintech and insurtechRegulatory sandbox
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2026-05-19•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has proposed two rule packages to ease capital raising in registered offerings and simplify public company reporting. The offering proposal would expand access to Form S-3, shelf and at-the-market offerings, certain research and communications safe harbors, and preempt state securities law registration for all registered offerings, with parallel changes for some funds and annuities. The reporting proposal would raise the large accelerated filer threshold to USD 2 billion and reclassify other issuers as non-accelerated filers with exemptions from auditor attestation of internal control over financial reporting and extended Form 10-K and Form 10-Q deadlines.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-05-19•Serbia•National Bank of Serbia
The National Bank of Serbia warned citizens and businesses against intentionally damaging dinar banknotes, stating that notes with writing are unfit for circulation and that it will file a criminal complaint in a reported case. It reiterated that deliberate damage to banknotes may constitute the criminal offence of harming the reputation of the Republic of Serbia and called on authorities to act, stressing that such acts cannot be justified as freedom of expression or artistic creativity.
SupervisionAlertsFraud and scams
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2026-05-19•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission has proposed amendments to ease access to public markets and reduce compliance burdens for issuers. The first proposal would modernize the registered offering framework, including eliminating the one-year seasoning requirement and the USD 75 million public float threshold for unrestricted Form S-3 use, and revising delaying amendments. The second would simplify filer status classifications and recalibrate the large accelerated filer threshold to reduce disclosure burdens for smaller companies.
Policy & regulationRules & requirementsRegulatory burden
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2026-05-19•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has proposed two rulemakings to ease going public and post-listing capital raising, particularly for small and mid-sized issuers. One proposal would simplify filer status categories, expand scaled disclosure and accommodations, and create an expanded IPO on-ramp, while the other would broaden access to registered shelf offerings by tying eligibility mainly to timely reporting and extending most well-known seasoned issuer flexibilities to more exchange-listed domestic companies. The Commission is seeking feedback and signalled that further public company framework changes would build on these proposals.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-05-19•Ukraine•Ministry of Finance (Ukraine)
The Ministry of Finance of Ukraine said talks with key partners at the Group of Seven meetings focused on Ukraine’s financing needs, with defense set to remain the top 2026 budget priority and external aid still needed for social and humanitarian spending. The ministry highlighted the European Union’s EUR 90 billion support package for 2026 to 2027, including an expected EUR 45 billion this year, and called for continued work on frozen Russian assets and structural reforms.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-19•Congo•Congo Insurance Regulation and Control Authority
The Congo Insurance Regulation and Control Authority has provided SNECA CHECK computer terminals to the national police to support digital roadside checks of compulsory motor third party liability insurance. The authority outlined the compulsory insurance framework and demonstrated how the SNECA system operates, while the police indicated the tool should modernize control operations and ease congestion at checkpoints.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2026-05-19•Belgium•National Bank of Belgium
The National Bank of Belgium’s Annual General Meeting re-elected three regents, elected five new regents, and reappointed KPMG Réviseurs d’entreprises Bedrijfsrevisoren, represented by Stephane Nolf, as auditor for a further three-year term. The Council of Regency now comprises the five members of the Board of Directors led by Governor Pierre Wunsch, five regents proposed by the social partners, and nine regents proposed by the minister of finance, with Bart Buysse joining the social partner nominees and the other four new regents joining the minister’s nominees.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-19•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council has proposed revisions to the CAMELS supervisory rating system to better align ratings with institutions’ safety and soundness by focusing on material financial risks and improving transparency. The proposal retains the CAMELS framework but updates the definitions and evaluation factors for the composite rating and the six component ratings—capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk—marking the first comprehensive overhaul in 30 years.
Policy & regulationRules & requirementsPrudential risksAsset quality
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2026-05-19•Ecuador•Superintendencia de Bancos de Ecuador
The Superintendency of Banks of Ecuador warned that 19 unauthorized entities have been detected taking funds from the public in breach of Article 254 of the Organic Monetary and Financial Code, which reserves such activities to the national financial system. It published the names of these entities, urged the public to verify providers against its register of authorized institutions, and noted that alerts and complaints are assessed under the applicable legal framework for further action.
SupervisionAlertsUnlicensed or unauthorized activity