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2026-05-18•Ukraine•Ministry of Finance (Ukraine)
Ukraine’s Finance Ministry told a G7 meeting that the country’s external financing needs for 2026 to 2027 total USD 95 billion, with USD 52 billion for 2026 already secured. Finance Minister Sergii Marchenko also pointed to weaker first quarter growth, faster April inflation, and urgent energy infrastructure recovery needs. He welcomed the European Union’s Ukraine Support Loan mechanism and said an International Monetary Fund mission is expected soon for the next Extended Fund Facility review.
Policy & regulationCooperation
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2026-05-18•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority and the Bank of England, including the Prudential Regulation Authority, have issued a joint call for input on supporting the safe adoption of tokenisation in UK wholesale financial markets, setting out a shared regulatory vision and initial roadmap for tokenised securities across issuance, trading, settlement and safekeeping. They signal coexistence with non-tokenised infrastructures and broadly aligned regulatory treatment where legal rights and risks are equivalent. The authorities outline near-term steps for the Digital Securities Sandbox, including a defined route to permanent authorisation, potential changes to the Central Securities Depositories Regulation framework, expanded use of certain stablecoins for settlement, and a Bank of England synchronisation service by 2028 to enable settlement of digital asset ledgers in sterling central bank money via real-time gross settlement. They also clarify that Prudential Regulation Authority regulated firms will generally apply the same prudential treatment to tokenised traditional assets as to non-tokenised equivalents.
Policy & regulationImplementation, projects & pilotsTokenization
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2026-05-18•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 Almat Saule as Managing Director of Freedom Bank Kazakhstan Joint Stock Company. The decision is set out in a protocol dated 14 May 2026.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-18•Greece•Bank of Greece
The Bank of Greece said the central government cash balance posted a surplus of EUR 1.013 billion in January to April 2026, down from EUR 1.874 billion a year earlier. Ordinary budget revenue edged up to EUR 22.451 billion, while expenditure rose to EUR 21.600 billion.
Data & statisticsFinancial and market indicators
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2026-05-18•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 reissued licences to ADCB Islamic Bank JSC and Islamic Bank Zaman-Bank JSC to conduct banking and other operations performed by Islamic banks. The reissuances, made by separate deputy chair orders dated 15 May 2026, reflect changes to the names of the relevant operations rather than an expansion of activities.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-18•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro, under the Twinning project Support to Financial Services Regulation in Montenegro, completed an expert mission with the Romanian Financial Supervisory Authority to strengthen its supervisory capacity. The work focuses on establishing an Early Warning System for Montenegro’s insurance market in line with European Union regulatory standards and the Solvency II framework to support market stability and earlier identification of potential risks.
SupervisionCooperationSupervision process and methodologies
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2026-05-18•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, sent a letter urging Treasury Secretary Scott Bessent to correct testimony that grocery prices had fallen, citing federal data showing a 0.7 percent rise in April and a 2.3 percent increase in 2025. She links part of the increase to President Trump’s tariff policies and frames the request within her broader affordability probe into inflation, “Trump Fees,” and household cost pressures.
OtherEconomic data and developments
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2026-05-18•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico’s Financial Intelligence Unit has made preventive additions to the Blocked Persons List and imposed blocking measures based on reports from Mexican financial institutions tied to U.S. public allegations and alerts on politically exposed persons. It emphasized these are administrative, not final liability determinations, and that listed persons retain legal safeguards and avenues for administrative and judicial review. The unit continues reviewing information on politically exposed persons using its standard technical and analytical criteria.
EnforcementSanctions & designationsSanctions list update
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2026-05-18•Libya•Central Bank of Libya
The Central Bank of Libya and the Ministry of Interior agreed to create a joint task force to combat unlicensed financial operators and fictitious market speculation. The plan also targets the parallel foreign exchange market, smuggling and imports conducted outside the banking system. Unlicensed firms and shops will be given a period to regularize their status before legal action is taken.
Policy & regulationCooperationFinancial stability and systemic riskAML and CFT
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2026-05-18•Europe•European Central Bank - Banking Supervision
The European Central Bank – Banking Supervision’s Patrick Montagner said Europe should preserve the post-crisis banking framework, stressing that analysis does not show systematically higher capital requirements for EU banks than for US peers and that robust supervision remains necessary given Europe’s bank-based financing model. He identified banking union fragmentation, including constraints on intra-group capital and liquidity flows, barriers to cross-border mergers and the absence of a European deposit insurance scheme, as the main obstacle to competitiveness. Montagner urged easing intra-group flows, harmonising prudential rules by converting directives into regulations, advancing European deposit insurance and continuing supervisory simplification.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2026-05-18•India•Reserve Bank of India
The Reserve Bank of India has issued a sixth amendment to its 2025 directions on commercial banks’ financial statements, aligning presentation and disclosure requirements with recent changes to the investment portfolio framework. The amendment redefines revenue reserves and clarifies items excluded from reserves, and requires banks to disclose a tabular movement of provisions for non-performing investments for the current and previous year in INR crore.
Policy & regulationRules & requirementsAccounting and financial reporting
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2026-05-18•India•Reserve Bank of India
The Reserve Bank of India has issued a sixth amendment to its 2025 capital adequacy directions for commercial banks, removing sub-paragraph 21(i)(b) with immediate effect. The change follows a review conducted after the second amendment to the directions on classification, valuation and operation of investment portfolios for commercial banks.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-18•India•Reserve Bank of India
The Reserve Bank of India has amended financial statement presentation and disclosure requirements for Local Area Banks to align with its 2026 investment portfolio framework. The changes redefine “Revenue Reserve” and replace the generic investment provision disclosure with a specific requirement to report movements in provisions for non-performing investments in Indian rupees crore.
Policy & regulationRules & requirementsAccounting and financial reporting
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2026-05-18•India•Reserve Bank of India
The Reserve Bank of India has amended its directions on regional rural banks’ investment portfolios, revising the rules on the Investment Fluctuation Reserve. Regional rural banks must now build the reserve from realised gains on sale of investments, subject to net profit, until it reaches at least 2 per cent of the held for trading and available for sale portfolio, assessed annually on the book value as of the balance sheet date.
Policy & regulationRules & requirementsAccounting and financial reporting
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2026-05-18•India•Reserve Bank of India
The Reserve Bank of India has amended its 2025 investment portfolio directions for rural co-operative banks, reducing operational constraints by revising the Investment Fluctuation Reserve requirement. Rural co-operative banks must now maintain an Investment Fluctuation Reserve of at least 5% of the book value of investments classified under the Current Category, assessed annually as of the balance sheet date.
Policy & regulationRules & requirementsPrudential risksAccounting and financial reporting
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2026-05-18•United States•U.S. Department of Justice
The U.S. Department of Justice reported that Mohammed Zohair Adi was sentenced in the Southern District of Alabama to 180 months in prison, a USD 50,000 fine and three years of supervised release for conspiracy to commit money laundering and providing false testimony. Adi used multiple corporate entities and bank accounts to launder millions of dollars in drug proceeds for a marijuana trafficking organization and structured transactions to evade reporting, and later lied to a court and the Drug Enforcement Administration about contacts with a co-defendant.
EnforcementInvestigations & enforcement actions
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2026-05-18•United Kingdom•HM Treasury
HM Treasury has outlined reforms to the UK bank ring-fencing regime to make it more agile and proportionate while maintaining depositor and financial stability protections, including a new Growth Allowance that could support up to GBP 80 billion of additional financing for UK businesses. The reforms would shift detailed requirements from legislation into Prudential Regulation Authority rules and enable banks to offer a wider range of products and services to growing firms. The package, set out in the report “Safeguarding Stability, Enabling Growth,” will be implemented through the forthcoming Enhancing Financial Services Bill, with ring-fenced banks remaining operationally separate from investment banking activities.
Policy & regulationReform agendas & prioritiesLending
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2026-05-18•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority reported on a meeting with the National Health Insurance Fund to coordinate implementation and supervision of universal health insurance in Tanzania. TIRA linked its supervisory role to the government’s goal of health insurance coverage for all Tanzanians by 2030 and committed to continued technical input under the Universal Health Insurance Act, while NHIF pledged ongoing cooperation.
SupervisionCooperationOther
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2026-05-18•United Kingdom•Bank of England
The Prudential Regulation Authority at the Bank of England will consult on reforms to rules governing shared operational services for ring-fenced banks, aiming to give large banking groups more flexibility in sharing functions such as data processing, information technology and back-office services while maintaining protections for retail deposits. The PRA said the reforms are enabled by developments in its prudential and resolution toolkit since ring-fencing was introduced and form part of HM Treasury’s wider package of changes to the UK ring-fencing regime.
Policy & regulationRules & requirementsOperational risk and resilience
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2026-05-18•Namibia•Bank of Namibia
The Bank of Namibia reported that Governor Ebson Uanguta concluded working visits to the Central Bank of Kenya, National Bank of Rwanda and Bank of Uganda to deepen technical cooperation and institutional learning. The visits resulted in a memorandum of understanding with the National Bank of Rwanda covering economic research, financial inclusion, digital transformation, sustainable finance, innovation and capacity development, plus discussions on payment modernisation and digital financial infrastructure.
Policy & regulationCooperationDomestic cooperationCapacity building
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2026-05-18•United States•Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas has appointed Arturo Barrio as vice president and regional executive for its El Paso branch, effective May 18. He will lead outreach to businesses, community groups, and border economy leaders to inform the bank’s assessment of economic conditions in West Texas, southern New Mexico, and the broader U.S.-Mexico border region.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Malta•Malta Financial Services Authority
The Malta Financial Services Authority has launched a consultation on the tokenisation of financial instruments and real-world assets to assess how distributed ledger technology could support tokenised markets in Malta. It is seeking views on market readiness, suitable asset classes, legal and infrastructure requirements, and whether existing European Union and national frameworks are sufficient or need targeted updates. Responses are due by 30 June 2026.
Policy & regulationReform agendas & prioritiesTokenizationBlockchain and distributed ledger technology
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2026-05-18•Latvia•Ministry of Finance (Latvia)
Latvia’s Ministry of Finance has proposed amendments to the Financial Instruments Market Law to allow shareholders of public interest entities to delegate appointment of audit committees to the supervisory board, while retaining the option to appoint them directly. The draft also shortens from three to two years the employment “cooling-off” period for audit committee candidates to broaden the pool of specialists, with estimated annual administrative cost savings of EUR 35,000–75,000 for larger entities.
Policy & regulationRules & requirementsCorporate governance
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2026-05-18•Global•International Monetary Fund
International Monetary Fund staff, in their preliminary 2026 Article IV consultation statement, said Singapore faces elevated global uncertainty from a position of strength, with the Middle East war expected to slow growth and raise inflation, and judged current monetary and fiscal settings appropriate. Staff endorsed the Monetary Authority of Singapore’s April 2026 tightening and urged a data-dependent stance with readiness to tighten further if second-round inflation pressures emerge, while calling for targeted fiscal support and vigilance over financial sector risks.
ResearchEconomic data and developmentsMonetary policy decisions and developments
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2026-05-18•Global•International Monetary Fund
The International Monetary Fund published a statement on its second high-level strategic dialogue with Saudi Arabia’s Ministry of Finance, confirming a USD 279 million, ten-year capacity development partnership focused on the Middle East and North Africa, Sub-Saharan Africa and global priorities. The IMF said support, delivered through its Regional Office in Riyadh, regional centers and thematic funds, aims to back economic reforms and rising demand for technical assistance and training amid uncertainty linked to the war in the Middle East.
Policy & regulationImplementation, projects & pilotsCapacity building
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2026-05-18•Global•World Bank
The World Bank, through the International Bank for Reconstruction and Development, has priced a new catastrophe bond providing Jamaica with USD 200 million of hurricane insurance coverage, replacing earlier World Bank cat bonds that provided USD 150 million and were fully paid out after Hurricane Melissa in October 2025. The oversubscribed transaction, issued under the capital at risk notes program, uses parametric per-occurrence triggers based on storm path and intensity, with Jamaica paying a premium under a risk transfer agreement, and will settle on May 26, 2026, and mature on May 23, 2030.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeFinancial stability and systemic risk
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2026-05-18•Global•International Monetary Fund
The IMF’s preliminary end-of-mission statement for the 2026 Article IV consultation with Burundi finds that stabilization measures have improved growth and sharply reduced inflation, but large external imbalances and a high parallel exchange rate premium leave the economy vulnerable. Staff consider stabilization achievable if Burundi sustains fiscal discipline, tightens monetary policy, phases out the dual exchange rate through a sequenced roadmap, and advances revenue, public finance, financial sector, governance and key sector reforms. A staff report based on these findings will be prepared for Executive Board consideration.
Policy & regulationInternational standards & recommendationsEconomic data and developments
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2026-05-18•Global•International Monetary Fund
The International Monetary Fund Executive Board concluded its 2026 Article IV consultation with Peru, noting strong 2025 growth supported by record-high terms of trade and projecting 2.8 percent growth in 2026, while highlighting downside risks. Directors called for fiscal consolidation, revenue reforms, and addressing spending rigidities, endorsed a neutral, data-dependent monetary stance and a flexible exchange rate, and urged full implementation of remaining Financial Sector Assessment Program recommendations, stronger governance, climate integration, and action against illegal mining. Peru’s authorities requested more time to decide on publication of the staff report.
Policy & regulationGuidance & interpretationEconomic data and developments
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2026-05-18•Italy•Bank of Italy
The Bank of Italy, the Federal Reserve Board, the Bank of Canada, Sveriges Riksbank, the Bank of Japan and the Central Bank Research Association will co-organize the eighth ECONDAT conference on nontraditional data, machine learning and natural language processing in macroeconomics, to be held at the Bank of Japan in Tokyo on October 5-6, 2026. The conference will cover empirical and theoretical research in macroeconomics and financial economics using data science, nontraditional data and artificial intelligence, including AI-based methods for central bank analysis and new measures of economic activity and inflation, with keynote speeches by Melissa Dell and Matthew Shapiro.
Research
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2026-05-18•Russia•Central Bank of Russia
The Central Bank of Russia’s quarterly balance of payments assessment shows the current account surplus declined year on year in the first quarter of 2026, driven by a smaller trade surplus and a wider services deficit. The trade balance weakened as imports, supported by a stronger ruble and higher demand for foreign machinery, equipment and transport vehicles, grew faster than exports, while the services deficit widened on increased services imports, notably higher spending by Russian travellers abroad and construction services.
Data & statisticsBalance of payments and other external statistics
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2026-05-18•Italy•Bank of Italy
The Bank of Italy has submitted a memorandum to the Parliamentary Commission for Simplification arguing that transparency rules in banking and finance remain only partly effective, as lengthy and technical disclosures and customers’ limited processing capacity hinder real understanding. It calls for clearer and more standardised information, stronger financial education, direct conduct obligations on intermediaries, and enhanced supervisory tools, including artificial intelligence and suptech, to improve substantive transparency and address poor customer outcomes earlier.
Policy & regulationGuidance & interpretationConsumer and investor protectionFinancial literacy and education
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2026-05-18•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market reported staff participation in a webinar hosted by Spain’s National Securities Market Commission on developing markets for small and medium-sized enterprises, focusing on Spain’s SME Growth Market. The session covered SME access conditions, available instruments, incentives, operator requirements, disclosure obligations, Markets in Financial Instruments Directive II requirements, and recent changes to listing and trading rules.
Policy & regulationCooperationSME financing
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2026-05-18•Russia•Central Bank of Russia
The Central Bank of Russia reported that the maximum interest rate on Russian ruble deposits at the ten largest household deposit-taking credit institutions was 13.04% in the first 10 days of May 2026. It also made available updated data on changes in the monitoring series and average maximum deposit rates by maturity on its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-18•Hungary•National Bank of Hungary
At the Lámfalussy Conference, National Bank of Hungary Governor Mihály Varga said the new management has refocused the central bank on its primary statutory objectives and streamlined its organisation in response to a difficult global environment, stressing cooperation among independent central banks, particularly in Europe. He linked this to domestic stability indicators, including inflation’s return to the tolerance band, the forint’s appreciation to HUF 360 per EUR from HUF 410, foreign exchange reserves of about EUR 60 billion and gold holdings of 110 tonnes, and said the conference aims to strengthen the ability to address imbalances and deepen international cooperation.
Institutional developmentMandate & organizational structureDomestic cooperationFinancial stability and systemic risk
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2026-05-18•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority used opening remarks at Integrity Forum 2026 to reaffirm integrity, better governance and zero corruption as core operating standards and announced it is moving toward implementing the MS ISO 37001:2025 Anti-Bribery Management System. Deputy Director General Syahrul Imran Mahadzir said the framework is intended to strengthen discipline, controls and day-to-day integrity rather than serve as a certification exercise, linking market confidence to institutional reputation and decision-making.
Institutional developmentGovernanceOther
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2026-05-18•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency outlined supervisory and regulatory changes to reduce burden on community banks by tailoring examinations to size, complexity and risk, easing use of the community bank leverage ratio, and narrowing model risk, information technology and cybersecurity expectations. The OCC removed certain policy-based examination requirements, revised Community Reinvestment Act examination scheduling to be more risk-based, simplified leverage ratio capital calculations and reporting, and clarified that revised model risk guidance is non-prescriptive and generally excludes community bank models.
Policy & regulationRules & requirementsRegulatory burdenSupervision process and methodologies
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2026-05-18•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance rejected PASOK leader Nikos Androulakis’s private debt proposals, defending the existing framework as protecting vulnerable borrowers and the middle class while preserving financial stability. The ministry said it is strengthening the out-of-court debt workout mechanism, including automated procedures, broader coverage and main residence protection, and argued that restoring a Katseli-type regime, expanding borrower buybacks, limiting guarantor liability, mandating creditor participation, shifting Swiss franc loan losses to creditors, or tightening servicer sanctions would create instability or shift costs to taxpayers.
Policy & regulationGuidance & interpretationOther
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2026-05-18•Ukraine•National Bank of Ukraine
The National Bank of Ukraine presented a weaker 2026 outlook and tighter-for-longer stance, projecting 9.4% inflation and 1.3% GDP growth in 2026, with the key rate at 15% until Q2 2027 and inflation reaching the 5% target in 2028. It cited faster price pressures, weaker activity and ongoing exchange-rate smoothing, and upgraded its end-2026 reserves forecast to USD 64.8 billion. The NBU also reported substantial progress on FX liberalization, with most current transactions already liberalized and further easing to proceed gradually and conditionally.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2026-05-18•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission appointed DJ Hennes as director of the Market Participants Division. Chairman Michael S. Selig cited Hennes’ governance, risk, compliance, enforcement, crypto asset, and prediction market experience as relevant to the agency’s rule updates in those areas. Hennes previously held senior risk and compliance roles at KPMG LLP and Promontory Financial Group.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Oman•Oman Financial Services Authority
The Oman Financial Services Authority used Oman Sustainability Week 2026 to highlight the non-banking financial sector’s role in sustainability, ESG adoption and responsible investment. Its joint pavilion with the Muscat Stock Exchange includes workshops on corporate disclosure, integrating the Sustainable Development Goals into business practices and international sustainability experience.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable financeESG
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2026-05-18•Central African Republic•Securities and Exchange Commission of Central Africa
The Securities and Exchange Commission of Central Africa has opened a public consultation on a draft instruction for the core and ancillary activities of brokers, collective investment scheme managers and investment advisers. The measure is designed to clarify the application of the 2022 Central African market regulation and the COSUMAF General Regulation. The consultation runs from May 22 to June 1, 2026, after which COSUMAF will review responses and publish a report.
Policy & regulationGuidance & interpretationOther
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2026-05-18•Kyrgyzstan•State Service for Regulation and Supervision of Financial Markets
The Kyrgyz Republic’s State Service for Regulation and Supervision of Financial Markets issued a public warning about a rise in illegal online lotteries, naming Sonun Chance, lo.to6145, Ishenim and Bereke as under investigation. It highlighted typical red flags such as lack of authorization, upfront payments, missing rules and unrealistic prize promises, and urged citizens to avoid sharing personal data or money and to verify that lottery operators are licensed and registered.
SupervisionAlertsFraud and scams
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2026-05-18•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia and Bursa Malaysia have issued a public consultation on proposed LEAP Market 2.0 enhancements to expand capital market access for micro, small and medium enterprises and mid-tier companies. Proposals include a new admission route for eligible equity crowdfunding issuers with simplified disclosure, calibrated retail investor limits, greater fee flexibility for advisers, and a more efficient transfer process from the LEAP Market to the ACE Market.
Policy & regulationRules & requirementsSME financing
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2026-05-18•Sweden•Riksbank
The Riksbank’s spring 2026 Financial Market Survey reports that most participants view Sweden’s foreign exchange and fixed-income markets as functioning well, but a majority have reduced risk-taking compared with autumn 2025, mainly due to the war in the Middle East and, to a lesser extent, US trade policy. Respondents cited slightly weaker yet still favourable liquidity in Swedish krona foreign exchange markets, improved liquidity and supply in nominal government bonds following the Riksbank’s bond sales, and reduced secondary market liquidity in inflation-linked government bonds due to lower issuance.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-18•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission’s 2025 corporate governance data show women held 37.52% of board seats across listed companies, with 64 of 112 issuers, including 27 Ibex 35 members, meeting or exceeding the 40% representation target under Organic Law 2/2024. Only three of the largest companies remain below the 2026 threshold and each needs one additional woman director to comply. Women held 25.18% of senior management roles (excluding director-executives) and 9.87% of executive directorships, while 23 listed companies had no women in senior management.
Data & statisticsDiversity and inclusion
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2026-05-18•Europe•European Central Bank
The European Central Bank has published an Occasional Paper arguing that the EU’s dependence on imported fossil fuels and fragmented energy markets exposes firms to high, volatile energy costs that undermine growth, competitiveness and energy security. The paper concludes that a genuine European Energy Union, with coordinated market integration, infrastructure, funding, taxation and industrial policy, would better support decarbonisation and reduce vulnerability to external shocks as renewables gain importance.
Research
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2026-05-18•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported results of its 18 May 2026 foreign exchange purchase intervention auction, which attracted 18 participants. Satisfied bids ranged from USD 100,000 to USD 21,320,000 at a weighted average rate of 9.3368 USD/TJS.
Monetary policyMonetary policy instruments & operationsOther
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2026-05-18•Maldives•Maldives Monetary Authority
The Maldives Monetary Authority has granted a banking licence and operational approval to Maldives Premier Bank Private Limited to conduct commercial banking activities in the Maldives. The decision follows a pre-operational approval issued in May 2025, during which the authority approved changes to the bank’s name and ownership structure, and is positioned as part of efforts to deepen the financial sector, increase banking competition, and broaden access to financial services.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-18•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority is consulting on draft amendments to the securities business regulatory framework to simplify licensing and business commencement requirements and recalibrate minimum capital thresholds. Proposals include reducing the custody capital requirement to SAR 20 million from SAR 50 million, setting a SAR 2 million minimum for arranging activities involving client funds in securities-based crowdfunding, and aligning capital for dealing sub-activities to their risk. The draft would also permit institutions licensed only for advising to undertake other businesses under controls, adjust combinations of registrable functions, and update Know Your Client requirements based on money laundering and terrorism financing risk classification.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-18•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority has approved Al Rajhi Capital’s public offering of the Al Rajhi GCC Equity Fund Excluding KSA, confirming compliance with the Capital Market Law and implementing regulations. The authority clarified that the approval does not constitute a subscription recommendation and urged investors to review the fund’s terms, strategy and risk factors and to consult the fund manager as needed.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-18•Chile•Chile Financial Market Commission
The Chile Financial Market Commission appointed Diego Peralta Valenzuela as General Legal Director, effective 1 June 2026, following a public competition. Peralta joins from Carey, where he co-led the banking and finance group, and brings prior experience at the Office of the Comptroller General of the Republic, Citicorp and Citibank in Chile, and the Advisory Board of the Chilean Capital Market.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency published an article highlighting very low earthquake insurance coverage in Slovenia, noting that around 80 percent of residential properties are not insured against earthquake risk. Based on survey data and insurer feedback, it attributes low take-up to misconceptions about earthquake probability, the scope of basic home insurance, and expected state support, and notes similarly low coverage for business, industrial buildings and apartment blocks. The agency also stresses that insuring only an individual apartment may be insufficient if the wider building is not covered and outlines typical policy requirements for proving earthquake-related damage.
Financial literacy & educationOther
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2026-05-18•Serbia•National Bank of Serbia
The National Bank of Serbia detailed SEPA implementation, confirming Serbia joined on 22 May 2025 and that domestic banks enabled the SEPA Credit Transfer scheme from 4–5 May 2026 for standardized cross-border EUR payments. SEPA Credit Transfer is currently the only scheme, subject to scheme conditions, Serbian foreign exchange rules and execution within one business day for properly submitted orders, with erroneous transfers not guaranteed to be recovered. The rollout is in an initial phase with bank-set fees, and SEPA Instant Credit Transfer will be introduced later, depending on the readiness of European banks and payment infrastructures.
Policy & regulationGuidance & interpretationCross-border payments
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2026-05-18•Serbia•National Bank of Serbia
The National Bank of Serbia has published for consultation a draft law on financial conglomerates to align Serbia’s framework with European Union Directive 2002/87/EC under accession Chapter 9 on financial services. The draft sets rules for identifying financial conglomerates and for supplementary supervision of authorised credit institutions, investment firms, insurance and reinsurance undertakings, and various fund and pension management companies within such groups.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-18•Romania•National Bank of Romania
The National Bank of Romania published provisional balance of payments and external debt data for January–March 2026, reporting a narrowed current account deficit of EUR 5,338 million versus EUR 6,153 million a year earlier, driven by a smaller goods deficit and stronger secondary income. Non-residents’ direct investment declined to EUR 1,130 million from EUR 1,635 million, while total external debt rose by EUR 3,062 million to EUR 231,525 million, with long-term debt at 79.0% of the total. The long-term external debt service ratio fell to 11.8%, and foreign exchange reserve coverage of residual short-term external debt increased to 108.1%.
Data & statisticsBalance of payments and other external statistics
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2026-05-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has issued an action program to implement the government’s state sector development agenda, assigning tasks to its internal units, state-owned credit institutions, enterprises under its oversight, and affiliated public service units. The program prioritises reviewing banking rules, cutting administrative procedures and compliance costs, increasing decentralisation and autonomy, and shifting from ex ante controls to risk-based ex post supervision. It also calls for clearer separation of state ownership and commercial functions, stronger leadership and talent policies, improved data infrastructure and coordinated inspections, and protection for officials acting in the public interest where there is no corruption or personal gain.
Policy & regulationReform agendas & prioritiesOther
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2026-05-18•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has announced an agreed settlement requiring payment of EUR 150,000. The settlement also requires publication of the party’s name on the authority’s website.
EnforcementInvestigations & enforcement actionsOther
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2026-05-18•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority reported that its chairperson, Islam Azam, visited Cairo University to promote financial literacy and explain the authority’s supervisory role across capital markets, insurance and non-bank financial activities. Azam highlighted recent non-bank market developments, including derivatives and index futures, and growing youth interest in precious metals funds, while officials also presented the authority’s broader regulatory role and its Iinvest platform for non-bank financial services.
Financial literacy & educationOther
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2026-05-18•Moldova•National Bank of Moldova
The National Bank of Moldova has published a draft decision to amend anti-money laundering and counter-terrorist financing rules for banks and non-bank payment service providers, transposing Commission Delegated Regulation (EU) 2019/758. The draft sets minimum actions and additional risk-based measures for groups with branches or majority-owned subsidiaries in states where local law restricts full application of group-wide AML and CFT policies, including enhanced risk assessment, senior management oversight, additional controls, and potential market exit where risks cannot be effectively managed.
Policy & regulationRules & requirementsAML and CFT
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2026-05-18•Moldova•Ministry of Finance (Moldova)
The Ministry of Finance of Moldova signalled interest in diversifying state and corporate financing, including potential green, social and SDG-linked bonds, while stressing fiscal sustainability, transparency and efficiency. At a UNDP Debt4SDGs workshop, it highlighted government securities market development as a strategic priority and cited measures such as enhanced issuance transparency, the eVMS.md platform and cooperation with rating agencies. The ministry said it will continue to support capital market development and modern financing instruments to advance Moldova’s sustainable development.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable financeGreen taxonomy
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2026-05-18•Albania•Bank of Albania
The Bank of Albania’s Supervisory Council has granted a licence for the Albanian branch of foreign bank Turkiye Cumhuriyeti Ziraat Bankasi A.S. to conduct banking and financial activities, subject to the conditions set out in the licence. The decision follows preliminary approval issued in August 2025 and is based on an assessment under Law 9662/2006 on banks and Supervisory Council Regulation 14/2009 on the licensing and activity of banks and branches of foreign banks in Albania.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-18•France•Ministry of Economics & Finance (France)
France’s Ministry of Economics and Finance published materials for the fifth No Money For Terror conference, to be held in Paris as a flagship event of France’s G7 presidency and bringing together more than 70 international delegations to strengthen cooperation against terrorist financing. The agenda focuses on preventing misuse of financial innovation, addressing links with organized crime, countering funding models based on territorial control, and supporting financial reinclusion, drawing on the Financial Action Task Force’s July 2025 global review of terrorist financing risks.
Policy & regulationCooperationAML and CFT
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2026-05-18•United Kingdom•HM Treasury
HM Treasury has issued a policy statement and response to its first phase consultation on reforming the Consumer Credit Act, initiating the first broad modernisation of the regime in over 50 years. The government plans to move many detailed requirements into the Financial Conduct Authority rulebook to allow more flexible updating of rules for credit products, while maintaining existing protections and enforcement. Regulations will be informed by consumer testing and aim to improve the clarity and accessibility of information, including for vulnerable consumers.
Policy & regulationReform agendas & prioritiesConsumer and investor protection
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2026-05-18•United Kingdom•Bank of England
The Bank of England has launched a consultation on extending Real-Time Gross Settlement (RTGS) and CHAPS operating hours toward near 24x7, including a preferred sequence of adding Sunday and certain UK bank holiday settlement from no earlier than 2029, followed by longer daily hours from no earlier than 2031. The paper outlines a potential move to 22x6 operation, explores a 22x7 or 23.5x7 end-state, and seeks evidence on use cases, costs, operational and liquidity implications, and differing operating models for CHAPS and other RTGS services.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2026-05-18•Japan•Japan Financial Services Agency
Japan’s Financial Services Agency reported Finance Minister Katayama’s account of the G7 Finance Ministers and Central Bank Governors Meeting, which addressed Middle East-driven inflation and market volatility, secure navigation in the Strait of Hormuz, and food and fertilizer supply chain risks. Katayama said ministers advanced work on critical minerals, frontier AI cyber risk, financial crime and global imbalances, including responses to China’s critical mineral policies, faster sharing of cyber risk countermeasures, and stronger FATF engagement on terrorist financing and crypto assets. He said there was no discussion of coordinated G7 bond market or FX intervention, and experts will develop more concrete measures for the Evian Summit.
Policy & regulationCooperationFinancial stability and systemic riskGeopolitical risk
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2026-05-18•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority published a letter from Executive Directors David Bailey, Charlotte Gerken and Rebecca Jackson addressed to chief executive officers of all banks and designated investment firms. The letter’s content is not disclosed in the summary.
Policy & regulationGuidance & interpretationOther
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2026-05-18•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has updated its interim expectations for the prudential treatment of tokenised assets, stablecoins and other cryptoasset exposures, replacing its 2022 guidance while retaining the requirement to apply the full prudential framework and a 100% market risk capital charge for unbacked cryptoassets. It confirms that tokenised traditional assets should generally receive the same prudential treatment as equivalent non-tokenised assets where legal rights and risks are comparable, using Basel Committee standards as a reference where rules allow discretion. A full prudential framework will be consulted on only after the Basel Committee completes its targeted review, not before 2028.
Policy & regulationGuidance & interpretationPrudential risksStablecoinsTokenization
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2026-05-18•Serbia•Republic of Serbia Securities Commission
At a conference on digital assets enforcement, the Republic of Serbia Securities Commission outlined practical experience with implementing the Law on Digital Assets, including market development via white papers and digital asset service providers and potential integration with the capital market. The Commission stressed that financial literacy, legal clarity, and stronger market infrastructure are necessary for sustainable development and further alignment with European standards.
Policy & regulationGuidance & interpretation
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2026-05-18•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau announced the reappointment of Lisa Chen Ping as Executive Director Legal Services and the appointment of Elisa Ng Ka-li as Executive Director Investment Products of the Securities and Futures Commission, both for three-year terms starting in May and June 2026 respectively. Chen continues to lead the Legal Services Division, while Ng joins from senior asset management and funds roles following an open recruitment process led by a selection panel chaired by the Securities and Futures Commission Chairman.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced the appointment of Elisa Ng as Executive Director of Investment Products and the reappointment of Lisa Chen as Executive Director of Legal Services for a further three-year term. Ng joins from J.P. Morgan Asset Management Hong Kong, where she was Chief Executive Officer and Head of Hong Kong Funds and Institutional Business, and previously served as Chairman of the Hong Kong Investment Funds Association and as a member of the SFC Advisory Committee.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert after Hong Kong Interbank Clearing Limited identified a fraudulent website impersonating HKICL and directing users to WhatsApp chats with fraudsters posing as customer service. HKICL clarified it has no affiliation with the site, does not use WhatsApp or proactively contact the public, and urged users to verify suspicious communications via its official website and report suspected fraud to the Police.
SupervisionAlertsFraud and scams
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2026-05-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has issued a public warning on scams involving fraudulent bank websites, fake internet banking login screens, phishing emails and related activities. It reiterated that banks do not send embedded hyperlinks for transactions or request sensitive information such as passwords or one-time passwords by phone, email or SMS, and advised affected individuals to contact their bank and the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2026-05-18•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission reported that the Federal Court ordered Walker Stores Pty Ltd, trading as Snaffle, to pay an AUD 33.5 million penalty for unlawfully overcharging consumers under credit contracts. The Court found the firm miscalculated interest on more than 38,000 contracts between September 2021 and February 2025, causing nearly AUD 20 million in excess interest and breaching the 48% annual cost rate cap. Walker Stores must also publish an adverse publicity notice and pay ASIC’s legal costs.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2026-05-18•Georgia•National Bank of Georgia
The National Bank of Georgia held an introductory meeting with India’s new ambassador, Shri Amit Kumar Mishra, to discuss closer cooperation between the two countries’ central banks, including a planned memorandum of understanding. Talks focused on prospects for collaboration in payment systems and financial services, as well as the National Bank of Georgia’s current and planned projects.
Policy & regulationCooperationDomestic cooperation
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2026-05-18•France•France Autorite des marches financiers
The French Financial Markets Authority, via a mediator blog post on a variable-capital SCPI complaint, clarified that withdrawal requests with minimum required elements may be recorded in the chronological register on receipt but remain non-executable until all documents are provided. The management company concerned now requires incomplete requests to be completed within 30 days to retain their original rank, otherwise they are re-dated to when missing documents are received. Referring to Article 422-218 of the AMF General Regulation, the post stresses that SCPI documentation should clearly set out minimum information for registration, required documents for execution, and any deadlines and consequences for curing incomplete files.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2026-05-18•Laos•Bank of the Lao
The Bank of the Lao PDR’s Monetary Policy Committee kept the 7‑day policy rate at 8% and reaffirmed a coordinated policy mix to contain inflation and support exchange rate stability amid renewed price pressures and ongoing foreign exchange and debt constraints. It reviewed earlier decisions and approved continued foreign exchange management, Treasury Single Account consolidation, central bank bond issuance, and joint work with fiscal and industry authorities to adjust credit policies supporting production, import substitution and exports.
Monetary policyPolicy rate decisionsFinancial and market indicatorsSupervision process and methodologies
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2026-05-18•China•Central Bank of the Republic of China
The People's Bank of China held its 2026 internal audit work conference and set nine priorities for internal audit units, emphasizing accurate problem identification, higher audit quality, stronger follow-up remediation and closer alignment with the bank’s broader priorities. The bank called for more standardized, law-based, technology-enabled audit practice, closer cooperation with other oversight functions, and stricter integrity standards, noting that 2025 audits had identified key issues and driven rectification and process improvements.
Institutional developmentGovernanceAuditing
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2026-05-18•Spain•Bank of Spain
The Bank of Spain has launched “Imagine your banknotes”, inviting children aged 6 to 12 to submit drawings based on the Eurosystem’s shortlisted themes for the next euro banknote series, European culture or rivers and birds of Europe. The initiative, which includes prizes and a virtual exhibition of selected drawings, forms part of the wider European Central Bank process to select the final design for the new euro banknotes by end-2026.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-18•Iraq•Central Bank of Iraq
The Central Bank of Iraq has granted a licence to Al Nahla Company to provide financial services, electronic payment, blockchain and digital technologies. The authorisation enables Al Nahla Company to operate as a regulated provider in Iraq’s financial services and digital technology sector.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-18•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission has rescinded Rule 202.5(e), ending its requirement that parties settling enforcement actions with sanctions agree not to publicly deny the allegations. The Commission will not enforce existing no-deny provisions or reopen settled cases for breaches, and said the change aligns its practice with other federal agencies and supports more flexible, resource-efficient settlements without altering its general approach to admissions.
Policy & regulationRules & requirementsOther
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2026-05-18•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission conducted internal training to prepare staff for the 2026 Integrity and Transparency Assessment of public agencies under revised criteria set by the National Anti Corruption Commission. The programme emphasised the updated, more qualitative assessment approach and supports efforts to strengthen understanding of the framework, improve public disclosure processes, and upgrade communication and service systems for more effective scrutiny.
Institutional developmentCooperation & capacity buildingCapacity building
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2026-05-18•Zambia•Bank of Zambia
In launch remarks, the Bank of Zambia officially introduced a standardized mobile money agent training manual to create uniform standards for agent conduct, compliance, customer protection and service delivery. The bank urged payment service providers to embed the manual in onboarding and monitoring and tied the move to broader digital finance growth, interoperability reforms and rising cyber and fraud risks.
Policy & regulationGuidance & interpretationConsumer and investor protectionFinancial inclusion
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2026-05-18•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held a training program on financial technologies and digital transformation for nearly 50 students at Baku Higher Oil School to support the digital financial technology ecosystem and develop human capital. Sessions covered data-driven economic management, digital financial products, payment systems and innovation, data management, and regulation of virtual assets, with central bank representatives sharing current approaches and practical examples.
Financial literacy & educationFintech and insurtech
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2026-05-18•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has set its 2026–27 priorities for financial reporting, audit and sustainability reporting oversight, focusing on complex judgements in revenue recognition, asset impairment, financial instruments and decommissioning provisions. It will review financial reports across entities, examine 25 audit files with emphasis on audit quality and independence, and focus on mandatory climate and sustainability reports from Group 1 entities. ASIC will engage with large audit firms on responses to independence findings and assurance methodologies, and participate in the Government’s consultation on reforms to reduce sustainability reporting burdens.
SupervisionSupervision approach, priorities & toolkitFinancial and market indicatorsSupervisory data
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2026-05-18•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has issued early observations on the first sustainability reports under Australia’s mandatory regime, noting more consistent climate-related disclosure than under the previous voluntary framework but identifying several practices requiring improvement. ASIC warns against disclaimers that conflict with the statutory framework, calls for clearer disclosure of climate-related risks, judgements and assumptions, tighter use of cross-references, and proper treatment of legally imposed climate targets.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2026-05-18•Global•World Bank
The World Bank has priced a USD 200 million catastrophe bond for Jamaica under the IBRD’s capital at risk notes program, renewing and expanding parametric hurricane protection after the previous USD 150 million cover was triggered by Hurricane Melissa in October 2025. Oversubscription enabled an upsizing from the initial target, with the bond providing pre-arranged funding for low-frequency, high-impact events as part of Jamaica’s disaster risk financing strategy. The notes, which settle on May 26, 2026 and mature on May 23, 2030, pay compounded SOFR plus a 0.12% funding margin and a 6.75% risk margin and will be listed on the Singapore Exchange.
Policy & regulationImplementation, projects & pilots
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2026-05-18•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Ministry of Finance of the Republic of Uzbekistan announced the start of trading of the UzNIF fund on the London Stock Exchange, bringing a portfolio of strategic state assets in sectors including energy, aviation, telecommunications, transport and banking to international capital markets. The ministry highlighted interest from international investors such as BlackRock, Franklin Templeton and Redwheel, and noted the participation of senior presidential officials at the London launch event.
Policy & regulationImplementation, projects & pilotsMergers and acquisitions
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2026-05-18•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has asked the public prosecutor to file a Civil Court lawsuit against four offenders for manipulating the share price or trading volume of Triton Holding Public Company Limited after they refused civil sanctions imposed by the Civil Sanction Committee. The SEC seeks maximum statutory civil sanctions, including payment of THB 40,923,541.40 plus interest, trading and director/executive bans, and has referred the case to the Anti-Money Laundering Office as unfair securities trading is a predicate offense under the Anti-Money Laundering Act B.E. 2542 (1999).
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-18•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported that domestic securities firms’ overseas businesses in 2025 generated USD455.8 million in net income, up 67.8% year-on-year, with assets rising 4.3% to USD35.74 billion and shareholders’ equity up 7.8% to USD8.77 billion. Sixteen firms operated 83 subsidiaries and 10 offices in 15 countries, with 71.0% of operations in Asia and overseas activities accounting for 7.2% of aggregate assets, 17.3% of equity and 8.7% of net income. Of the 83 subsidiaries, 51 were profitable and overseas businesses were profitable in 13 jurisdictions including the US and Hong Kong, while China and Japan recorded net losses.
Data & statisticsFinancial and market indicators
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2026-05-18•South Korea•South Korea Financial Services Commission
South Korea’s Financial Services Commission reported outstanding household loans across all financial sectors rose by a preliminary KRW3.5 trillion in April 2026, with faster mortgage lending offset by a sharp decline in other loans. Banks drove most of the increase, while nonbank lending growth slowed and some segments stayed in contraction. The authority flagged risks from stronger bank mortgage growth and will closely monitor mortgage loan management targets and continue inspections of lending rule breaches in the housing market.
SupervisionRisk monitoring & watch pointsLending
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2026-05-18•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published results of its 2025 financial transparency supervision of 15 multiple banks’ credit card current account products, finding four institutions fully compliant and ten partially compliant after remediation. The two-stage review focused on clarity and consistency of customer information and disclosure materials, with the average score rising from 5.2 to 8.3, and did not assess commissions, interest rates or card suitability.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-05-18•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published 2025 supervision results on financial transparency for 11 banks offering simple loans to individuals, reporting an average score improvement from 5.1 to 7.8 after remediation, with only three institutions fully compliant. The review identified persistent deficiencies in disclosure of commissions, complaint and contract termination procedures, credit report authorization, account statement and payment terms, transaction receipts, and website information, and CONDUSEF stated that supervisory action will continue and that corrections do not preclude sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-18•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published results of its 2025 financial transparency supervision of seven banks offering current account credit, finding only one fully compliant institution after remediation and an average score rising from 5.2 to 6.4. The review identified persistent breaches in disclosure of commissions, complaints procedures, contract termination, account statements, credit report authorisation, marketing restrictions for users in REUS, transaction receipts and website information, and CONDUSEF stressed that remediation does not preclude sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-18•Australia•Reserve Bank of Australia
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre published a Project Acacia report on how digital money and settlement innovations could support wholesale tokenised asset markets, finding potential efficiency and resilience gains but also scaling challenges requiring further regulatory and industry work. The project, conducted with industry and supported by ASIC, APRA and the Australian Treasury, tested 20 use cases across multiple asset classes using various forms of digital settlement, including a pilot wholesale central bank digital currency, tokenised commercial bank deposits and stablecoins. The report outlines a multi‑stream work program, including enhanced industry‑regulator cooperation and a potential regulatory sandbox for digital market infrastructure.
Policy & regulationImplementation, projects & pilotsTokenizationMarket development
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2026-05-18•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has rescinded its long-standing policy that barred settling defendants from publicly denying allegations in enforcement actions. Settling parties will no longer face restrictions on their public statements as a condition of settlement, with the SEC stating that the public can now assess its case alongside any denials by defendants.
EnforcementEnforcement frameworkOther
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2026-05-18•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission opened ENEF 2026 financial education week by announcing an expansion of its financial education work, with continued emphasis on investor training and evidence-based public policy. CVM highlighted a planned national financial literacy survey with Banco Central do Brasil under an OECD International Network on Financial Education initiative, and outlined a programme addressing financial inclusion, longevity planning and related investor education topics.
Financial literacy & educationFinancial literacy and education
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2026-05-18•Belgium•National Bank of Belgium
The National Bank of Belgium announced that Claire Tillekaerts’ term as chairperson of the Council of Regency has ended.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-18•Global•International Monetary Fund
The IMF Executive Board’s Article IV consultation with Trinidad and Tobago noted a gradual recovery, with projected real GDP growth of 0.8 percent in 2025, low inflation, a current account surplus and a well-capitalized banking system, but also elevated uncertainty, persistent fiscal deficits, rising public debt and declining reserves. Directors backed stronger fiscal consolidation, including closing tax gaps, cutting non-priority transfers, better targeting social programmes, rebuilding buffers and adopting a medium-term fiscal framework with a fiscal rule and debt anchor. They also urged monetary tightening toward neutral, improved foreign exchange market functioning, greater exchange rate flexibility over time, and vigilance over sovereign-financial linkages and cyber and climate risks.
Policy & regulationInternational standards & recommendationsEconomic data and developments
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2026-05-18•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Elizabeth Warren and Jeanne Shaheen, Ranking Members of the Senate Banking and Foreign Relations Committees, criticized the Trump Administration for extending Treasury’s temporary sanctions relief for Russian oil after General License 134B expired on May 16, 2026. They argued the extension sustains Russian oil revenues without clear benefits for U.S. consumers or energy markets, does not limit prices Russia can charge, and reduces sanctions risk, enabling higher Russian oil prices amid ongoing Russian military actions and support for Iran.
OtherSanctions list update
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2026-05-17•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, together with Royal Group Securities Plc. and the Cambodia Securities Exchange, held the fourth Investor Forum for civil servants from five ministries and government institutions on 11 May 2026. The event, attended by about 100 participants, provided an overview of investment opportunities in the securities market and practical guidance on stock trading via the CSX Trade application.
Financial literacy & educationSecurities offerings and listings