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2026-05-13•Indonesia•OJK
The Indonesia Financial Services Authority published remarks from its Chief Executive of Banking Supervision stressing that sustainable credit growth requires legal certainty for banks, including a shared understanding of how the business judgment rule applies in criminal cases involving non-performing loans. At a banking forum, Supreme Court and Attorney General’s Office representatives outlined conditions under which the rule protects lending decisions taken in good faith, with prudence, proper procedures and no conflicts of interest, and emphasized that compliant business failures should not be criminalized. Speakers also called for uniform legal interpretation and for criminal enforcement to remain a last resort.
Policy & regulationGuidance & interpretationCredit riskSupervision process and methodologies
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2026-05-13•Malta•Central Bank of Malta
The Central Bank of Malta reported that annual real GDP growth accelerated to 6.4% in the fourth quarter of 2025, while inflation reached 2.5% and the labor market remained tight. The four-quarter fiscal deficit narrowed to 2.2% of GDP, public debt stood at 46.4% and the current account surplus reached 8.6% of GDP.
ResearchEconomic data and developments
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2026-05-13•Latvia•Ministry of Finance (Latvia)
Latvia’s Ministry of Finance and the Bank of Latvia have submitted 13 draft laws to transfer registration, licensing and supervision of non-bank consumer lenders and credit intermediaries, plus financial consumer protection, from the Consumer Rights Protection Centre to the Bank of Latvia. Centred on amendments to the Consumer Rights Protection Law, the reform would consolidate supervisory and consumer protection functions, extend the Bank’s remit to unfair commercial practices and advertising by financial market participants, and align related laws, with a phased transition from 2027 that has drawn objections from the Ministry of Economics, the Fintech Latvia Association and some consumer lenders.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-13•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy reported on a field visit by the Minister of Economy and Tourism to Dubai’s Gold Souk to review application of anti-money laundering, counter-terrorist financing and proliferation financing rules in the gold sector, supervised as a designated non-financial business and profession. The ministry reiterated the regulatory framework, including a federal policy, the UAE Good Delivery Standard and responsible sourcing due diligence rules, and highlighted supporting measures such as a bullion market committee, trader database, federal gold trading platform and technical assistance.
SupervisionReviews, inspections & stress testsOther
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2026-05-13•Latvia•Central Bank of Latvia
The Central Bank of Latvia’s Supervision Committee has granted SIA Paybis Europe a crypto-asset services licence and a separate payment institution licence, making it the first crypto-asset service provider in Latvia with simultaneous payment services authorisation and the third firm licensed under the EU Markets in Crypto-Assets Regulation. The crypto-asset licence covers custody, exchange, execution of orders, advice and transfer services, while the payment institution licence permits execution of payments, including transfers to payment accounts. Under MiCA, authorisation in one EU member state enables cross-border provision of services across the EU via a notification mechanism.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Latvia•Central Bank of Latvia
The Council of the Central Bank of Latvia has approved the bank’s 2025 annual report, showing total recognised gains of EUR 332 million (up from EUR 214 million), a 35% increase in capital and reserves to EUR 1.275 billion, and EUR 56 million paid to the state budget, with an unqualified audit opinion from SIA KPMG Baltics. The report highlights measures to enhance payment resilience and cash availability, support mortgage refinancing and lending, open the payment system to payment and electronic money institutions, and adjust pension and credit union frameworks, with financial service accessibility remaining a priority for 2026.
Institutional developmentGovernanceAuditing
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2026-05-13•Russia•Central Bank of Russia
The Central Bank of Russia has approved a revised basic standard for microfinance organisations that bans pre-ticked consent boxes for additional services and requires full disclosure of such services, including the right to refuse and the impact on microloan terms. The standard also prohibits using visual techniques to highlight favourable terms while obscuring others and updates requirements on handling consumer requests, information on agreements and risks, and debt recovery practices.
Policy & regulationRules & requirementsConsumer and investor protection
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2026-05-13•Global•Network for Greening the Financial System
The Network for Greening the Financial System has appointed Olaf Sleijpen, president of De Nederlandsche Bank, as its new chair from 1 July, succeeding Sabine Mauderer, first deputy governor of the Deutsche Bundesbank. The network highlighted Mauderer’s four-and-a-half-year leadership, during which membership expanded to 152 institutions and work advanced on integrating climate, adaptation and nature considerations into financial risk management.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-13•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority, together with the European Securities and Markets Authority, has launched a mandatory survey for supervised securities firms to assess preparations for the European Union’s move from T+2 to T+1 securities settlement on 11 October 2027. The survey aims to gauge firms’ progress, identify readiness gaps and support the authority’s supervisory monitoring of risks, with the national questionnaire integrated into ESMA’s to allow a single submission.
SupervisionRisk monitoring & watch pointsRegulatory burden
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2026-05-13•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission obtained a Court of First Instance order disqualifying former Qunxing Paper Holdings financial controller and company secretary Poon Tsz Hang for two years over failures related to the company’s false and misleading disclosures, and requiring him to pay legal costs. The court found Qunxing materially overstated turnover and understated bank borrowings in its 2007 IPO prospectus and later financial statements, and that Poon failed in his responsibilities. The proceedings, commenced in September 2019 under section 214 of the Securities and Futures Ordinance, followed earlier 2018 court orders requiring compensation to investors.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-05-13•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has published an irrevocable direction to Euronext Amsterdam N.V. after finding that conditions in its new settlement model breached Central Securities Depositories Regulation requirements for non-discriminatory, transparent access for central securities depositories (CSDs) to transaction flows. The direction required Euronext to withdraw three conditions restricting certain CSDs’ access, confirm continued access for existing CSDs and grant access to others that had requested it, which Euronext has done. The AFM will continue to monitor compliance and focus on fair, transparent, non-discriminatory access for CSDs, including for new access requests.
EnforcementInvestigations & enforcement actionsOther
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2026-05-13•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission has ordered a minimum 90-day grace period for specified payments and expiring coverage during the national energy emergency, alongside three months of relief for loan repayments. Regulated entities also receive a 30-day extension for reportorial requirements covering April through June without fines or penalties.
Policy & regulationRules & requirementsConsumer and investor protectionClaims managementRegulatory reporting
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2026-05-13•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission ordered Vigattin Insurance and Antz Insurance to cease unauthorized insurance agency activities. It also suspended Antz Insurance’s licenses and required both businesses to pay penalties and return compensation from those activities, while leaving open further investigation under consumer protection law.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityComplianceConsumer and investor protection
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2026-05-13•Estonia•Central Bank of Estonia
The Central Bank of Estonia’s latest Financial Stability Review finds the financial sector remains generally sound, supported by strong capitalisation and liquidity, but notes heightened risks from geopolitical tensions and greater reliance on international bond markets. It highlights lending-related vulnerabilities, including around 10% annual growth in real estate and construction lending and housing loans, rising commercial real estate vacancy, elevated debt-funded housing transactions, and rapid lending growth in Latvia and Lithuania. The countercyclical capital buffer is maintained at 1.5%, with a possible reduction later this year if lending risks ease.
ResearchCredit riskFinancial stability and systemic risk
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2026-05-13•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Ministry of Finance of Uzbekistan reported on talks with the United Kingdom focused on expanding bilateral cooperation on economic reforms, macroeconomic and financial stability, privatisation and access to international capital markets. The parties agreed to deepen collaboration on the Green Inclusive Growth Fund, small and medium-sized enterprises, venture capital, innovative start-ups, private sector development, and logistics and transport infrastructure including high-speed rail and toll roads.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Israel•Bank of Israel
The Bank of Israel’s 2025 progress report on its Digital Shekel Project concludes that the expected benefits of a digital shekel would outweigh the costs for the Bank, system participants and the wider economy. The report outlines a proposed regulatory structure, assesses a multipurpose retail and wholesale central bank digital currency model, and summarizes technology consultations and stakeholder feedback. In 2026 the project will prioritize features, begin detailed design, prepare an issuance roadmap and submit a recommendation to the Governor on whether to issue a digital shekel.
Policy & regulationImplementation, projects & pilotsCBDC
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published a report finding that an accounting firm had appointed an engagement-responsible accountant who no longer held approval as a state-authorized accountant. The authority required the firm to remove the individual from engagement responsibility, review its systems and assess client impact, and closed the case after the firm implemented corrective measures, including strengthened quality assurance and quarterly checks of approval status.
SupervisionInterventionsAuditing
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published an inspection report on the Pension Fund for the Health Enterprises in the Capital Area, issuing supervisory remarks on governance, risk management, capital planning and the insurance framework. It expects the board to tighten suitability assessments, reinforce internal audit independence, clarify bylaws on nomination and capital contributions, and strengthen the own risk assessment, risk appetite, stress testing, insurance strategy, limits and interest guarantee premium principles. The authority will follow up on a new tariff notification for the interest guarantee premium and has requested board minutes and auditor notification.
SupervisionReviews, inspections & stress testsRisk managementCorporate governance
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2026-05-13•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has revoked the approval of a state-authorised accountant after a final court conviction for complicity in grossly negligent tax fraud, finding the individual no longer meets statutory conditions and that withdrawal is necessary to preserve trust in the profession. The conviction concerned unrecorded cash payments for cleaning services that concealed taxable turnover and income, leading to evaded VAT and tax of NOK 36,308, and resulted in a suspended 30-day prison sentence, a NOK 20,000 fine and confiscation of NOK 28,279. The individual may no longer use the state-authorised accountant title or hold key roles in accounting firms.
SupervisionAuthorisations & approvalsAccounting and financial reporting
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2026-05-13•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority has licensed United Capital Financial Services Rwanda Ltd as an investment bank and positioned Kigali as the firm’s East and Central African hub. The license covers a broad range of investment banking and capital markets services, including corporate finance, infrastructure finance, structured finance, trusteeship and advisory work.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-13•Australia•Department of Treasury (Australia)
The Australian Treasury has released an exposure draft of the Reserve Bank Regulations 2026 to replace the 2016 regulations, preserving secrecy declarations for Reserve Bank of Australia board members and the framework for disclosing protected information to prescribed bodies. The main change adds the Department of Home Affairs, the Australian Office of Financial Management and the Australian Signals Directorate to the list of prescribed bodies, linked to cyber security incident response and cooperation on Australian Government securities markets. The new regulations are scheduled to commence on 1 October 2026 and sunset on 1 October 2036.
Policy & regulationRules & requirementsOther
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2026-05-13•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force’s fourth enhanced follow-up report says Grenada has improved its technical compliance with the FATF standards since its 2022 mutual evaluation. It re-rated 11 recommendations, including upgrades on terrorist financing and targeted financial sanctions, leaving Grenada compliant or largely compliant on 31 of 40 recommendations. The report addresses technical compliance only, not effectiveness.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2026-05-13•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia has opened investigations into the transfer of COP 8.7 trillion in pension resources from private pension fund administrators to Colpensiones for 32,803 members who switched from the private to the public regime after securing pension rights. The review, which includes 24,331 members already receiving pensions from Colpensiones, follows the suspension of Decree 415 of 2026 by the Council of State and aims to support decisions to protect financial consumers and safeguard financial stability.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-13•Middle East•Arab Monetary Fund
The Arab Monetary Fund has launched its fifth remote workshop on enhancing the efficiency of public debt management in Arab countries, bringing together public debt directors, senior finance ministry officials and international institutions. The workshop will examine recent developments, challenges and international best practices in public debt management to support fiscal sustainability and economic stability, and is part of the Fund’s broader efforts to strengthen institutional capacity and policy dialogue.
Policy & regulationImplementation, projects & pilots
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2026-05-13•South Korea•Bank of Korea
The Bank of Korea published its March 2026 monetary and liquidity aggregates, reporting further month-on-month expansion in key money measures, with seasonally adjusted Narrow Money (M1) up 0.7%, Broad Money (M2) up 0.4% and Liquidity of Financial Institutions (Lf) up 0.5%, while Liquidity (L) fell 0.4%. In level terms, M1 reached KRW 1,368.7 trillion, M2 KRW 4,132.1 trillion, Lf KRW 6,194.1 trillion and L KRW 7,820.5 trillion, corresponding to year-on-year increases of 7.9%, 5.6%, 7.5% and 7.2% respectively.
Data & statisticsMonetary data
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2026-05-13•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service published December 2025 Korean Insurance Capital Standard ratios, showing modest quarter-on-quarter improvement, with the aggregate K-ICS ratio (with transitional measures) at 212.3% and the non-transitional ratio at 197.6%. Available capital rose by KRW9.3 trillion to KRW284.0 trillion, driven by net earnings and higher accumulated other comprehensive income, while required capital increased by KRW3.5 trillion to KRW133.8 trillion. Citing heightened financial market uncertainty linked to Middle East tensions, the authority said it will ensure insurers maintain sufficient capital buffers and press weaker firms to bolster high quality capital and risk management.
SupervisionRisk monitoring & watch pointsCapital adequacy
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2026-05-13•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission has approved revisions to Korea Exchange listing rules that tighten delisting standards for market capitalization, low share prices, capital impairment, and disclosure violations. Key changes include higher, phased market capitalization thresholds with longer recovery periods, new micro-cap delisting triggers for stocks trading below KRW1,000 and related limits on share consolidations, semi-annual capital impairment reviews, and lower disclosure demerit thresholds, with serious intentional breaches becoming standalone grounds for delisting. The new standards will be phased in from July 1, 2026, with a further market capitalization threshold increase from January 1, 2027.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-05-13•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye amended its circular on compulsory motor third-party liability insurance, setting June 2026 maximum premiums at 1.75% above May 2026 caps for each vehicle group and usage type. It also applied an additional 2% increase for taxis, certain minibuses, and buses with 18 or more seats, effective 1 June 2026.
Policy & regulationRules & requirementsOther
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2026-05-13•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic Pensions Superintendency (SIPEN) published remarks by the Superintendent of Pensions reviewing the system 25 years on, highlighting persistent savings gaps driven by labor informality and low contribution rates, and outlining the role of voluntary complementary pension plans. He noted that workers contribute for only 40% of the required periods, underscoring the need for mechanisms to guarantee a minimum pension and lifelong protection, and described the current total contribution rate of 9.97% as low by regional and international standards.
Financial literacy & education
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2026-05-13•Brazil•Central Bank of Brazil
The Central Bank of Brazil opened its 2026 Annual Conference with President Gabriel Galípolo stressing that repeated supply shocks have created a challenging environment for monetary policy but that the bank will not deviate from its inflation control mandate. He highlighted a gap between official inflation indicators and households’ perceived price changes, characterising current inflation as traditional but not necessarily demand-driven and warning against imprecise use of terms such as stagflation. The conference in Brasília covers macroeconomics, financial stability, financial intermediation and innovation, macroprudential regulation, the international economy and sustainability.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-05-13•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela and the Bank of Spain have agreed to restore technical and strategic relations after an eight-year interruption, setting a new bilateral roadmap focused on technical cooperation, data exchange and support for Venezuelan banks’ access to correspondent banking networks. The agreement was reached at a meeting in Tarragona during the first LatAm Economic Forum organised by the Bank of Spain, and the first remote technical session under the roadmap was held on 13 May with the Central Bank of Venezuela’s Economic Statistics team.
Policy & regulationCooperationCross-border cooperation
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2026-05-13•Uruguay•Ministry of Economy & Finance (Uruguay)
Uruguay’s Ministry of Economy and Finance outlined a policy agenda centred on a bill to strengthen and unify child transfer systems and a broader Competitiveness and Innovation bill to debureaucratize the economy, facilitate foreign trade and reshape competition and financial innovation frameworks. Measures include tax simplification for SMEs, stronger competition enforcement, regulatory sandboxes for fintech, updated investment fund rules, expanded financing for technology ventures and possible changes to retirement age. The ministry will also align with OECD and IMF work on regulatory and fiscal reforms and is preparing a 2026 agenda focused on infrastructure, energy, the financial system and greater trade openness.
Policy & regulationReform agendas & prioritiesOther
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2026-05-13•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission ruled on two settlement proposals in administrative sanctioning proceedings, rejecting an offer from Blue Tech Solutions EQI S.A. board chair Fábio Aylton Casal de Rey and accepting one from equity fund manager Rafael Nanni Trapé. Casal de Rey’s proposal was deemed inappropriate given the seriousness of alleged diligence failures, his prior history, limited procedural economy, and a previously rejected similar offer. Trapé agreed to fully reimburse affected fund unitholders, pay BRL 237,020.70 to the Commission, and accept a 12‑month suspension from portfolio management under CVM Resolution 21 for alleged fraudulent transactions in breach of CVM Resolution 62.
EnforcementInvestigations & enforcement actionsCorporate governance
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a floor speech by Ranking Member Elizabeth Warren urging senators to reject Kevin Warsh’s nomination to chair the Federal Reserve, calling it part of President Trump’s effort to influence the central bank. Warren cited alleged pressure on current Fed leadership, Warsh’s refusal to disclose the sources of more than USD 100 million in assets or address potential conflicts, and his record around the 2008 financial crisis, noting that all Committee Democrats opposed his nomination.
Institutional developmentLeadership change & appointmentsMonetary policy decisions and developments
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democrats on the U.S. Senate Banking Committee, led by Ranking Member Elizabeth Warren, have announced floor action to force 20 Senate votes on Joint Resolutions of Disapproval seeking to overturn Trump Administration Consumer Financial Protection Bureau rules across consumer finance areas. The resolutions, each sponsored by a Democratic senator, cover issues including medical debt, overdraft opt-in practices, buy now pay later lending, credit reporting, debt collection, remittance transfers, whistleblower protections, and protections for servicemembers and their dependents.
Policy & regulationRules & requirementsConsumer and investor protection
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2026-05-13•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 to Treasury Secretary Scott Bessent and SEC Chair Paul Atkins arguing that the Trump Administration’s deregulatory approach has heightened risks in the private credit market, increasing financial system vulnerability and threatening Americans’ retirement plans. She criticized limited oversight, including the absence of a requested Financial Stability Oversight Council stress test of private credit interconnectedness, and raised concerns that the SEC and Department of Labor are seeking to open 401(k) plans to private credit.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2026-05-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has released a consultation paper and draft licensing framework for locally incorporated Authorised Deposit-taking Institutions, including draft ADI Licensing Criteria and ADI Licensing Guidelines, to make the application process more transparent and efficient. The reforms build on APRA’s 2025 discussion paper and will implement Action 6 of the Council of Financial Regulators’ Review into Small and Medium-sized Banks when finalised in 2026, with submissions from the 2025 consultation also published.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-13•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has issued General Resolution 1139 to simplify and reorganise its anti-money laundering, terrorist financing and proliferation financing framework, extending obligations to Virtual Asset Service Providers. The resolution reduces information request forms from 19 to 10, refines reporting on beneficial owners, customer risk segmentation, transaction monitoring and politically exposed persons, and prohibits cash payments to and from clients except under a specific simplified tax regime, while allowing electronic cheques. It also clarifies evidentiary requirements for demonstrating suitability, integrity and solvency for CNV registration.
Policy & regulationRules & requirementsAML and CFT
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2026-05-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a statement from Chairman Tim Scott following the Senate’s confirmation of Kevin Warsh as Chair of the Federal Reserve Board of Governors, calling it an important step toward restoring confidence and credibility at the central bank. Scott linked the leadership change to the Federal Reserve’s impact on household costs and incomes and urged the central bank to focus on stable prices, maximum employment, and the American people over politics.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-12•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has published a list of initiatives by financial institution groups related to the Emerging Manager Promotion Program as part of the government’s policy plan to realize an asset management nation. The list covers measures by banks, insurance companies and other financial institutions to support funding for emerging asset managers, including those with short business histories, through public-private partnerships.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-12•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has updated its disclosure on initiatives by major financial institution groups under the government’s asset management policy, including the status of firms’ enhancement plans on investment capabilities, governance and systems. The update clarifies that to be included on the agency’s list, financial business operators must position asset management within their management strategy, publish their enhancement plan online and submit the prescribed report form to the agency.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2026-05-12•Albania•Ministry of Finance (Albania)
Albania’s Finance Minister Petrit Malaj told the Albania-Israel Cyber Security Summit that protecting public financial systems is a strategic national priority and reaffirmed the government’s commitment to strengthening the legal and institutional framework against money laundering and terrorist financing. He cited progress in modernising public finance administration through digitalisation, interoperability and efficiency, and stressed international cooperation, including using Israel’s cyber security and data protection experience, to build more secure and transparent financial systems.
Policy & regulationReform agendas & prioritiesCyber resilienceDomestic cooperation
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2026-05-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit asserting that prediction markets fall within its exclusive jurisdiction and that the federal framework preempts state laws as applied to CFTC-regulated markets. The brief, in KalshiEx LLC v. Matthew T. Schuler, et al., is part of the CFTC’s broader effort to oppose state regulation of prediction markets, including related lawsuits, a preliminary injunction in Arizona, and prior amicus filings in the Ninth Circuit and Massachusetts.
Policy & regulationGuidance & interpretationOther
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2026-05-12•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia outlined its expanded role under Decree 0368 in implementing the government’s mandatory open finance model, acting as regulator, supervisor and coordinator. It will set technology and security standards, administer the participant directory, establish monitoring metrics and oversee efficient, risk-based operation to support competition, innovation and financial inclusion while addressing technology, cybersecurity and data misuse risks. Working groups with system participants will define the timetable for standardising the model.
Policy & regulationImplementation, projects & pilotsOpen banking and finance
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2026-05-12•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission has fined Coteminas director and chief executive (and since 14 December 2023, investor relations director) Josué Christiano Gomes da Silva BRL 55,000 for failing to ensure preparation and timely filing of the company’s 2023 financial statements, in breach of Article 176 of Brazil’s Corporations Law and CVM Resolution 80 on annual financial reporting. The board acquitted Josué Gomes and Barbara Gomes da Silva on one disclosure charge and acquitted João Batista da Cunha Bonfim on another charge under CVM Resolution 80, and the sanctioned respondent may appeal to the National Financial System Appeals Council.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-05-12•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas has published the third iteration of its semi-annual Bank Account Opening Survey, analysing developments in the account opening process at commercial banks for the first half of 2025. The survey tracks indicators to establish a baseline for improving access to transactional banking and payments services and is intended to inform policies and reforms to enhance outcomes for customers of supervised financial institutions.
Data & statisticsSupervisory data
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2026-05-12•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic confirmed its official USD reference exchange rates at the close of 11 May as DOP 59.5747 (selling) and DOP 58.6723 (buying), applicable to its operations until the close of 12 May, and noted that an incorrect Google quote of DOP 30.80 per USD has been corrected. It will publish reference rates for 13 May operations before 6 pm on 12 May and urged market participants to rely on its official channels while it works with the technology company and its price providers to prevent similar errors.
Monetary policyMonetary policy instruments & operationsForeign exchange policy and markets
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2026-05-12•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic Pensions Superintendency marked the 25th anniversary of Law 87-01 by highlighting social security expansion, with the National Social Security Council noting that 97.20 percent of the population is now affiliated. Officials set an agenda to raise and index the guaranteed minimum pension, extend coverage to domestic, digital platform and self-employed workers, count child care periods toward pensions, update Law 87-01, strengthen primary care in the contributory regime, improve public education, and enhance retirement savings through more efficient investments and stronger supplementary plans.
Policy & regulationReform agendas & prioritiesOther
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2026-05-12•France•France Autorite des marches financiers
The French Financial Markets Authority has launched a short survey of all financial market participants to assess preparedness for the move to T+1 settlement, complementing a detailed Industry Committee survey covering EU member states. The national survey will inform the authority’s view of domestic market conditions and feed into bilateral discussions on any difficulties identified, ahead of the mandatory shift from T+2 to T+1 under Regulation 909/2014 as amended by Regulation 2025/2075 and related settlement discipline changes being finalised by ESMA and the European Commission.
SupervisionRisk monitoring & watch pointsMarket infrastructure
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2026-05-12•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica reported that the March 2026 Monthly Index of Economic Activity rose 4.6 percent year on year on the trend-cycle series, bringing average first-quarter growth to 4.7 percent compared with 2025. Definitive regime activity grew 3.8 percent, driven by construction, accommodation and food services, and a recovery in agriculture, while special regimes rose 5.3 percent but decelerated sharply due to base effects, slower medical product exports, and company exits in 2025.
Data & statisticsEconomic data and developments
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2026-05-12•Europe•European Central Bank
The European Central Bank has published a working paper finding that the pass-through of energy prices to inflation is stronger and more persistent when supply chain uncertainty is elevated, as firms treat energy prices as both a cost shock and a signal of broader logistical disruption. Evidence for the United States and euro area shows larger responses of headline and core inflation when supply chain uncertainty is in the top 20% of its distribution. In a New Keynesian model, this creates an endogenous uncertainty wedge in the Phillips Curve, implying that the conventional prescription to look through supply-driven energy shocks may fail under high supply chain uncertainty and that monetary policy should condition on upstream supply chain volatility as well as energy prices.
ResearchNature-related riskClimate risk and sustainable finance
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2026-05-12•Europe•European Central Bank
The European Central Bank has published a Working Paper on the impact of the 2017 Portuguese wildfires on hotel firms’ cashflows and financing decisions, finding large revenue declines for both directly damaged hotels and nearby establishments. Directly affected hotels increased long-term bank borrowing, reinvested in tangible fixed assets and built cash reserves, while indirectly affected hotels cut investment and cash holdings and relied only marginally more on short-term debt. The paper attributes indirect effects mainly to landscape destruction.
ResearchNature-related riskClimate risk and sustainable finance
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2026-05-12•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission, with the Thai Listed Companies Association, has launched the Financial Well-being in Workplace project to promote financial and investment literacy and long-term retirement savings among employees of listed companies, with an initial pilot for 80 firms. Participating companies must complete SEC-led training, run internal financial literacy activities using SEC resources, and report outcomes, and may receive a certificate, disclose activities in Form 56-1 One Report, and have them considered in Corporate Governance Report assessments.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2026-05-12•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has issued a master circular for broker dealers and clearing members in GIFT IFSC, consolidating requirements into a single framework for registration, supervision, conduct and operations. Structured across eleven chapters, it introduces streamlined registration via SWITS, governance and risk-based supervision standards, a tiered system audit framework, client asset protection, technical glitch and business continuity provisions, vendor risk and software resilience requirements, market access via authorised persons, and periodic reporting and compliance audits, and supersedes applicable Securities and Exchange Board of India circulars issued before 1 October 2020.
Policy & regulationRules & requirementsMarket infrastructure
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2026-05-12•Brunei Darussalam•Ministry of Finance (Brunei Darussalam)
The Revenue Division of the Brunei Darussalam Ministry of Finance and Economy and the Brunei Darussalam Institute of Certified Public Accountants opened a two-day Accounting Forum and Exhibition on “Redefining the Profession Shaping the Future of Accounting in Brunei Darussalam.” In his keynote, the Minister at the Prime Minister’s Office and Minister of Finance and Economy II stressed the profession’s role in financial integrity, transparency, accountability and sustainable growth, and urged greater use of data and artificial intelligence in decision-making, risk mitigation and forecasting.
Financial literacy & educationAccounting and financial reportingArtificial intelligence
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2026-05-12•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay reported that its president, Guillermo Tolosa, chaired a panel at the first LatAm Economic Forum hosted by the Bank of Spain on how geopolitical and technological changes are reshaping the relationship between interest rates, exchange rates and inflation. Panelists agreed that credible monetary policy remains a key tool for managing external shocks and supporting macroeconomic stability, amid growing geopolitical fragmentation and the use of tariffs and other economic policy tools that are altering macroeconomic dynamics and challenging traditional frameworks.
Monetary policyOtherMonetary policy decisions and developmentsGeopolitical risk
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2026-05-12•United States•Federal Reserve Board
The Federal Reserve Board has terminated enforcement actions and associated written agreements against F & M Holding Company, Inc. of Manchester, Georgia, and Thread Bancorp, Inc. of Rogersville, Tennessee. The actions, originally imposed in 2011 and 2010 respectively, were both terminated on May 6, 2026.
EnforcementInvestigations & enforcement actionsOther
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2026-05-12•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism has issued a standardised reporting package for national supervisors to identify obliged entities for potential inclusion in the 2027 selection for direct supervision. The package comprises a reporting template and interpretative note, with national supervisors responsible for data collection from obliged entities and AMLA setting the technical specifications as the ultimate data recipient.
Policy & regulationGuidance & interpretationAML and CFTSupervision process and methodologies
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2026-05-12•Global•International Monetary Fund
The IMF staff and Tanzanian authorities have reached a staff-level agreement on the final reviews under the Extended Credit Facility and the Resilience and Sustainability Facility, which, subject to Executive Board approval, would make SDR 283.85 million (about USD 375.5 million) available and bring total support to SDR 795.58 million and SDR 426.2 million respectively. The IMF says program objectives have broadly been achieved but stresses targeted support to vulnerable groups, readiness to tighten policy if inflation pressures rise, and continued fiscal discipline. Over the medium term, it projects growth at 6.3 percent with inflation within the 3 to 5 percent target range, contingent on reforms in revenue mobilisation, public financial management, central bank independence, the business environment and climate-related policies.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2026-05-12•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Republicans on the U.S. Senate Banking Committee released fact sheets and a myth-versus-fact briefing on the bipartisan CLARITY Act, which would create a federal market structure for digital assets, distinguish digital asset securities from commodities, and preserve SEC enforcement over digital asset securities and primary offerings of ancillary assets. The materials describe expanded investor disclosures and safeguards, extension of Bank Secrecy Act obligations and new anti–illicit finance tools for digital asset intermediaries, kiosk registration, a safe harbor to pause suspicious transactions, enhanced FinCEN resourcing, and a joint SEC–CFTC advisory committee. The briefing also highlights protections for software developers, preservation of self-custody, and sanctions and risk-management requirements for centralized intermediaries interacting with decentralized finance protocols.
Policy & regulationRules & requirements
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2026-05-12•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing, and Urban Affairs published a statement from Ranking Member Senator Elizabeth Warren arguing that President Donald Trump’s policies are raising household costs rather than lowering them. Warren cited earlier tariffs and the conflict with Iran as drivers of higher prices, stating Americans have paid USD 25 billion more for gasoline and that April data show essentials such as food, housing, and electricity rising faster than wages.
OtherEconomic data and developments
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2026-05-12•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The United States Senate Committee on Banking, Housing and Urban Affairs’ Ranking Member Elizabeth Warren issued a statement opposing the Republican majority’s new crypto market structure bill ahead of committee markup. She argued the bill would endanger investors, national security and the financial system, and criticized it for lacking provisions to address alleged conflicts of interest related to President Donald Trump and his family’s crypto activities, which she said generated at least USD 1.4 billion in one year.
Policy & regulationOther
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2026-05-12•Canada•Ontario Securities Commission
The Ontario Securities Commission’s Investor Advisory Panel has published its 2025 annual report, highlighting the impact on retail investors of technological change, expanding product and distribution channels, and economic and geopolitical uncertainty, and emphasizing investor protection as central to OSC policy and rule-making. The panel recommends clearer disclosure for do-it-yourself investors, additional tools and supports with safeguards, further measures on finfluencers and digital engagement, stronger enforcement powers and sanctions, binding authority for the Ombudsman for Banking Services and Investments, clearer guidance on artificial intelligence-related responsibilities and liabilities, and investor protection assessments for capital formation initiatives, while supporting greater domestic harmonization and international engagement.
Policy & regulationOtherConsumer and investor protection
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2026-05-12•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority announced that Standard Chartered Capital Saudi Arabia Company has completed the commencement of business requirements to conduct managing investments and operating funds activities under its securities business licence. The authority had approved this licence on 5 May 2025.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission published keynote remarks by Chairman Michael S. Selig outlining efforts with the Securities and Exchange Commission to harmonize policymaking and oversight across securities and derivatives markets, including planned joint requests for comment on portfolio margining and swap data reporting. Selig highlighted coordination through a memorandum of understanding, a joint harmonization initiative, participation in the SEC’s Project Crypto and work on a crypto asset taxonomy, and said swap data reporting alignment aims to reduce discrepancies with SEC Regulation SBSR and improve data quality. He also called for greater coordination between the Financial Industry Regulatory Authority and the National Futures Association on examinations, recordkeeping, surveillance and emerging risks.
Policy & regulationCooperationCross-border cooperation
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2026-05-12•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Trillium Mortgage Services Inc., Frank Manzo, Paramjeet Kaur, and Vatsal Pareshkumar Khamar for alleged breaches of Ontario mortgage brokering requirements, proposing CAD 250,000 in administrative penalties and a compliance order against Khamar. Allegations include failures in mortgage suitability, borrower identity verification, record-keeping, supervisory lapses by Manzo, dishonesty and false or misleading information by Kaur, and unlicensed mortgage dealing by Khamar, with all respondents requesting hearings before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2026-05-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has approved a comparability determination and order permitting certain CFTC-registered nonbank swap dealers in France to meet specified capital and financial reporting requirements via substituted compliance with French law implementing the EU’s Investment Firms Regulation and Investment Firms Directive, subject to conditions. The order takes effect upon publication in the Federal Register, and firms must notify the CFTC and obtain staff confirmation before relying on the substituted compliance relief.
Policy & regulationRules & requirementsCapital adequacyAccounting and financial reporting
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2026-05-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force reported that the second day of its 42nd Plenary included, for the first time, participation by research and training centers. These institutions presented academic initiatives, specialised programmes and training efforts on anti-money laundering and countering terrorist financing, underscoring an expanded role for capacity building and cooperation with regional and international authorities.
Policy & regulationCooperationAML and CFT
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2026-05-12•United States•U.S. Department of Justice
The U.S. Department of Justice reached a settlement with PayPal Inc. over a fair lending investigation into its 2020 Economic Opportunity Fund, which allegedly gave preferences based on race, color, and national origin. PayPal must establish a new Small Business Initiative that excludes protected characteristics from eligibility criteria, waive processing fees on USD 1 billion of transactions for eligible U.S. small businesses, appoint a director for the initiative, enhance Equal Credit Opportunity Act training, and provide annual reports to the United States.
EnforcementInvestigations & enforcement actionsLending
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2026-05-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force reported that its 42nd Plenary in Rabat saw bilateral memoranda of understanding to strengthen cooperation and expertise exchange on anti-money laundering, counter-terrorist financing and counter-proliferation financing. Agreements between the Libyan Financial Information Unit and the State of Palestine’s Financial Follow-up Unit, and between the Libyan Financial Information Unit and Mauritania’s Financial Information Analysis Commission, aim to reinforce technical partnerships and support regional AML/CFT/CPF frameworks.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2026-05-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
At its 42nd plenary, the Middle East and North Africa Financial Action Task Force heard a presentation from France on asset recovery through the Agency for the Management and Recovery of Seized and Confiscated Assets. Italy also presented on its experience in the Financial Action Task Force’s fifth round mutual evaluation process.
Policy & regulationCooperationCross-border cooperation
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2026-05-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force reported that research and training centres participated for the first time in activities on the second day of its 42nd Plenary. These centres presented academic initiatives, training programmes and specialised work on combating financial crimes, underscoring a focus on capacity building and enhanced cooperation with regional and international authorities.
Policy & regulationCooperationAML and CFT
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2026-05-12•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia used remarks at the Action for Nature event in Bogota to stress that natural capital is a strategic asset and that biodiversity loss and ecosystem degradation pose material financial risks requiring preventive supervisory management. The authority highlighted progress in integrating sustainability into its regulatory framework, aligning with international standards such as the Taskforce on Nature-related Financial Disclosures, and pointed to opportunities in biodiversity finance, green bonds and circular economy models.
SupervisionSupervision approach, priorities & toolkitClimate risk and sustainable financeGreen taxonomy
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2026-05-12•Europe•European Banking Authority
The European Banking Authority issued an opinion to the European Commission on the Austrian Financial Market Authority’s plan to raise the sectoral systemic risk buffer for commercial real estate exposures in Austria from 1% to 3.5%, and raised no objection. The measure applies on a consolidated, sub-consolidated and individual basis, excludes exposures to limited-profit housing associations, and is phased in via a 2% rate from July 2026 before reaching 3.5% from July 2027. The EBA cited elevated macroprudential risks in commercial real estate, potential internal market frictions and overlap with other capital requirements, and called for continued coordination and information sharing among authorities.
Policy & regulationGuidance & interpretationMacroprudential policy and tools
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2026-05-12•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York’s Center for Microeconomic Data reported that total US household debt rose by USD 18 billion (0.1%) in Q1 2026 to USD 18.8 trillion, with modest increases in most categories offset by a seasonal decline in credit card balances and aggregate delinquency stable at 4.8%. Mortgage, home equity line of credit and auto loan balances all increased, while credit card balances fell and student loan balances were broadly flat, amid mixed delinquency dynamics including a slight rise in serious mortgage delinquencies and more student loan balances 90 or more days past due.
Data & statisticsConsumer and investor protectionFinancial and market indicators
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2026-05-12•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board commented on the IAASB’s and IESBA’s 2028–2031 strategies, urging closer coordination with other standard setters and regulators and a focus on issues affecting audit quality and public trust in Canada. CPAB highlighted digital transformation, faster standard setting, changing firm structures and staffing, and growth in non-assurance services, and called for clearer guidance on technology-enabled audits, scalable and timely standard-setting, and a principles-based approach to firm culture and governance aligned with International Standard on Quality Management 1.
Policy & regulationInternational standards & recommendationsAuditing
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2026-05-12•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank has urged trust offices to submit transaction reports to the Financial Intelligence Unit more quickly, noting that reporting volumes remain low compared with other financial sectors and that many offices have never filed a report. It warned this raises the risk of suspicious transactions going unreported and highlighted ongoing efforts, including a Financial Expertise Centre project with other authorities and an investigation into the splitting of trust services, to address illegal trust service provision and improve monitoring.
SupervisionSupervision approach, priorities & toolkitAML and CFT
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2026-05-12•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority has announced that Samson Nganga’s accreditation as the representative of FxFair Ltd under his Securities Dealer’s Representative Licence was terminated with effect from 6 November 2025. The authority clarified that the notice is for information and public awareness only and does not constitute an enforcement action or adverse determination against any person or entity referred to.
SupervisionAuthorisations & approvalsOther
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2026-05-12•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission reported that the Steering Committee of the National Working Group on Benchmark Reform has adopted a recommendation on determining interest rates for new agreements and replacing the Warsaw Interbank Offered Rate (WIBOR) in existing PLN-denominated discount product agreements. This measure represents a further step in implementing Poland’s benchmark interest rate reform following the group’s work and public consultation.
Policy & regulationGuidance & interpretationFinancial benchmarks
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2026-05-12•Czech Republic•Ministry of Finance (Czech Republic)
The Cyprus Ministry of Finance, in a speech marking the 30th anniversary of the Cyprus Stock Exchange, underscored the government’s ongoing efforts to privatize the exchange as a strategic step to enhance its flexibility, competitiveness and outward orientation. Privatization is linked to upgrading technology and automation, expanding products and investment activity, and aligning further with European Union capital markets integration and reduced market fragmentation.
Policy & regulationReform agendas & prioritiesOther
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2026-05-12•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported that employment in Luxembourg credit institutions reached 26,490 as of 31 March 2026, an increase of 206 quarter on quarter and 339 year on year. The authority noted that the related statistical series are available on its website.
Data & statisticsActivity and performance reporting
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2026-05-12•Latvia•Central Bank of Latvia
The Central Bank of Latvia reported progress on its Fintech Strategy, highlighting increased fintech licensing, first licences for crypto-asset service providers, and growing use of central bank payment infrastructure by non-bank firms. It has issued eight fintech licences in 2025 and seven in 2026 to date, with strong crypto-asset licensing interest and early uptake of the new specialised credit institution licence for neobanks and digital models. The bank also noted broader participation in its Electronic Clearing System and wider euro area use of its Instant Verification Service.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2026-05-12•Moldova•National Bank of Moldova
The National Bank of Moldova Governor used the Black Sea and Balkans Security Forum to outline the central bank’s role in safeguarding financial stability during European integration, prioritising banking sector resilience to hybrid and cyber threats and transposition of the EU’s Markets in Crypto-Assets Regulation and Digital Operational Resilience Act. She highlighted modernisation of payment infrastructure, strengthened supervision in anti-money laundering and counter-terrorist financing, closer alignment with European financial infrastructure and the Single Euro Payments Area, and noted Moody’s upgrade of Moldova’s sovereign rating to B2 as evidence of improved economic and institutional conditions.
Policy & regulationReform agendas & prioritiesGeopolitical risk
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2026-05-12•United States•Federal Reserve Board
The Federal Reserve Board has terminated two written agreements with F & M Holding Company, Inc. of Manchester, Georgia, dated May 31, 2011, and Thread Bancorp, Inc. of Rogersville, Tennessee, formerly Volunteer Bancorp, Inc., dated May 25, 2010. Both enforcement actions were terminated on May 6, 2026.
EnforcementInvestigations & enforcement actionsOther
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2026-05-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has issued a comparability determination and order permitting certain CFTC-registered nonbank swap dealers in France, regulated under the EU’s Investment Firms Regulation and Directive, to satisfy specified Commodity Exchange Act capital and financial reporting requirements via substituted compliance with French law, subject to conditions. Eligible firms must notify the CFTC and obtain staff confirmation before relying on the order, which takes effect upon publication in the Federal Register with an additional 180 days for compliance.
Policy & regulationRules & requirementsCapital adequacyAccounting and financial reporting
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2026-05-12•Ukraine•National Bank of Ukraine
The National Bank of Ukraine and other financial authorities reported that 77% of the Strategy of Ukrainian Financial Sector Development’s 104 measures were completed or on schedule by end-2025, with 12 fully completed and four of 14 strategic benchmarks reaching target values. Key 2025 actions included bank resilience assessments and stress tests, a Mortgage Lending Development Strategy, enhanced clearing and T+ settlement, new information and cyber security regulations, and progress on capital markets, deposit guarantees, war-risk insurance and EU alignment. For 2026, authorities aim to raise fully implemented measures to 35% and will prioritise a managed flexibility exchange rate regime, easing exchange restrictions if conditions permit, resolving nonperforming loans, strengthening capital markets infrastructure, and advancing open banking and digital financial resilience.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskMarket development
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2026-05-12•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit in KalshiEx LLC v. Matthew T. Schuler, et al., arguing that prediction markets fall within its exclusive jurisdiction and that conflicting state laws are preempted. The Commission asks the court to overturn what Chairman Michael S. Selig described as an improperly narrow view of its authority by a federal district court in Ohio, and highlights related litigation and amicus activity in multiple courts as part of its broader effort to oppose state encroachment on federally regulated prediction markets.
Policy & regulationGuidance & interpretationTrading
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2026-05-12•Oman•Oman Financial Services Authority
The Oman Financial Services Authority and Riyada held a workshop to explain how startups and SMEs can use Oman’s capital market, with a focus on the Capital Market Incentive Programme and the Alternative Investment Market at the Muscat Stock Exchange. The session highlighted incentives including tax refunds, fee exemptions, procurement preferences and listing support for eligible companies. It also covered listing requirements and financing access challenges facing startups.
Financial literacy & educationMarket developmentSME financing
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2026-05-12•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission’s annual update on suspicious transaction and order reports recorded 218 notifications in 2025, a 21% decline from 2024, mainly due to fewer referrals from other authorities. Equity instruments accounted for 84% of communications, and nearly 75% involved actual or attempted use of inside information. The authority reported more timely, higher‑quality submissions and reiterated expectations for proportionate continuous monitoring, annual testing via audits and internal reviews, calibrated surveillance alerts, and robust expert analysis before filing.
SupervisionRisk monitoring & watch pointsMarket abuse
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2026-05-12•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association has published its position on the Anti-Money Laundering Authority’s draft regulatory technical standards for customer due diligence, warning that the current text would create barriers to domestic and cross-border fund sales and reduce the availability of EU funds. EFAMA argues that requiring asset managers to perform due diligence on underlying investors, where distribution is through intermediaries, is redundant and risks making distribution models unworkable. It calls on the Authority to revise the standards so that harmonised rules reflect the asset management sector’s specific characteristics and existing risk mitigants.
Policy & regulationRules & requirementsAML and CFT
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2026-05-12•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Uzbekistan Ministry of Finance outlined the 2026 housing provision programme, envisaging UZS 23 trillion of mortgage resources to support more than 73,000 families, higher mortgage caps, an expanded subsidy framework and new instruments to support down payment formation and access to credit. Funding will come from the state budget, commercial banks and the Mortgage Refinancing Company, with measures including increased maximum mortgage amounts, targeted subsidies for lower income borrowers and qualified teachers, full digitisation of subsidy applications, a pilot mortgage savings mechanism and a planned mortgage guarantee fund to reduce bank risks and support new products.
Policy & regulationImplementation, projects & pilotsLending
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2026-05-12•Indonesia•Ministry of Finance (Indonesia)
Indonesia’s Deputy Finance Minister Juda Agung urged fintech firms to prioritise safety, transparency and consumer protection to maintain public trust as the digital economy grows. Speaking at the Indonesian Fintech Association’s annual meeting, he highlighted risks in digital lending, including information asymmetry, problematic loans and non-transparent interest and collection practices, and called on the Association to strengthen transparency, enforce its code of ethics and promote digital literacy.
Policy & regulationGuidance & interpretationFintech and insurtechFinancial inclusion
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2026-05-12•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority relayed an alert from Hong Kong Interbank Clearing Limited about a fraudulent website impersonating HKICL that harvests login credentials and redirects users to WhatsApp chats with fraudsters posing as customer service staff. HKICL clarified it has no affiliation with the site, does not operate any WhatsApp channel, and does not proactively contact the public, advising individuals to verify suspicious communications via its general line and report suspected fraud to the Police.
SupervisionAlertsFraud and scams
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2026-05-12•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has published an overview of the evolution of Kuwait’s payments landscape between 2010 and 2025, highlighting a shift toward digital payments driven by technical and regulatory enhancements that improved infrastructure efficiency and expanded digital channels. The report traces the progression from expanded mobile digital banking to near field communication contactless payments and digital wallets such as Apple Pay and Samsung Pay, and notes the 2024 launch of the WAMD instant payment service enabling immediate person-to-person payments and wider use of electronic payments in everyday transactions.
ResearchPayments and payment systems
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2026-05-12•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has published results of a review of how five large banks tackle discrimination in their services, setting out five supervisory expectations and related recommendations. The AFM finds banks have taken constructive steps and increasingly recognise experienced discrimination, and calls for stronger board-level ownership, organisational arrangements, culture, communication and use of signals and complaints to prevent indirect exclusion of certain groups.
SupervisionReviews, inspections & stress testsDiversity and inclusion
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2026-05-12•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan published the results of its foreign exchange intervention purchase auction held on 12 May 2026, which attracted 15 participants. Accepted bids ranged from USD 100,000 to USD 15,705,000, with a weighted average rate of 9.3562 USD/TJS on accepted bids.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2026-05-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority published its first report on investment fund performance for Q1 2026, highlighting strong growth in net asset value to EGP 410.6 billion, an increase in operating funds to 187, and a rise in total fund units to 31.4 billion, with individuals holding 74.34%. Egyptian pound money market funds accounted for the largest net asset value at EGP 276.5 billion, while precious metals funds more than doubled in size and recorded the highest average quarterly return at 20.37%.
Data & statisticsAsset quality
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2026-05-12•Iraq•Central Bank of Iraq
The Central Bank of Iraq is advancing its banking sector reform programme, with banks completing second-phase requirements on compliance, governance, transparency and institutional performance to strengthen the financial system and align with international standards. It is contracting an independent audit firm to assess banks that met phase one criteria, confirm compliance with external transfer requirements and relevant standards, and enable them to regain access to foreign currency transfer channels, including EUR, AED, CNY and other approved currencies.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2026-05-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority said its chair, Islam Azzam, in his role as chair of IOSCO’s Growth and Emerging Markets Committee, led the committee’s first virtual general meeting of 2026 and set a work agenda aligned with emerging market needs. The meeting focused on investor protection, market integrity and financial stability amid higher interest rates, refinancing risks, fintech, AI, digital assets and cross-border activity, and reviewed capacity-building, supervisory technology and flexible, risk-based, technology‑neutral regulation. Azzam said the committee will work with the IOSCO secretariat and partners including the World Bank and IMF to ensure future meetings and workshops reflect these priorities.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2026-05-12•Global•World Federation of Exchanges
The World Federation of Exchanges announced the winners of its WFEClear Innovation Awards, naming Eurex Clearing’s distributed ledger technology-enabled collateral mobilisation service as the top project for addressing collateral fragmentation while preserving legal certainty, regulatory compliance and operational resilience. NSE Clearing was runner-up for its phased migration of the Indian securities market to a T+1 settlement cycle, reducing margin requirements by 50 percent while maintaining settlement stability and improving liquidity.
OtherMarket infrastructureCCPs