The Kuwait Capital Markets Authority has issued Resolution No. 56 of 2026 amending certain provisions of Module Fifteen on corporate governance in the executive bylaws under Law No. 7 of 2010. The amendments and additions update the framework to reflect international good governance practices and the practical experience of entities subject to the module.
The Kuwait Capital Markets Authority has issued a collective investment scheme licence for Ahli Capital Investment Company’s Ahli Capital Money Markets Fund in USD. The licence follows prior approval for the fund’s establishment and completion of the minimum capital requirement and is valid for a renewable three-year period.
De Nederlandsche Bank has issued a public warning against IDSG Capital B.V. for breaching the prohibition on attracting repayable funds from the public without a banking licence under the Dutch Financial Supervision Act. The central bank warned that clients may face an increased risk of losing all or part of their money as the firm is not under supervision and urged the public to check its register to verify firms’ licences and permitted activities.
The Saudi Arabia Capital Market Authority has approved Naba Alsaha Medical Services Company’s request to double its capital to SAR 210 million by issuing one bonus share for each existing share, increasing outstanding shares to 21 million. The capital increase will be funded by transferring SAR 93 million from retained earnings and SAR 12 million from reserves, subject to approval by an extraordinary general assembly and compliance with regulatory requirements.
The Kuwait Capital Markets Authority has amended parts of Book 15 on corporate governance in the Executive Regulations of Law No. 7 of 2010 and revised Appendix 2 on the corporate governance report template, with immediate effect and a compliance horizon to end-2026. Transitional provisions clarify that new conditions for independent board members in Article 2-3 apply upon election of new boards, while amended Article 13-1 requirements on forms submitted via the authority’s electronic governance portal apply from the date of issuance.
The Central Bank of the Republic of Kosovo has added gold to its official reserve portfolio for the first time as part of a long-term strategic allocation to modernise its reserve management framework, strengthen diversification, reduce risk and support resilience. The move follows a broader overhaul of asset management, administration and risk management, including enhanced internal policies and governance, expanded cooperation with international financial institutions and revised correspondent banking and custody arrangements.
Greece’s Ministry of National Economy and Finance published remarks by Minister and Eurogroup President Kyriakos Pierrakakis highlighting the Eurogroup’s priority to implement the European Commission’s Savings and Investments Union agenda and agree a common statement on digital finance. He framed the digital euro as the EU’s main strategic response to USD-linked stablecoins, aimed at strengthening the euro’s international role via a public payments and settlement infrastructure, and indicated that European Parliament action is expected this year with a 2029 delivery horizon viewed as acceptable despite opportunity costs.
The BIS Committee on Payments and Market Infrastructures and IOSCO have launched a consultation on targeted amendments to central counterparty resilience guidance and public quantitative disclosure standards to implement earlier policy proposals on initial margin in centrally cleared markets. The clarifications to the Principles for Financial Market Infrastructures would add requirements on margin simulation tools, measurement of initial margin responsiveness, governance and overrides of margin models, and expand CCP public disclosures, including more granular reporting on initial and variation margin, backtesting and a standardised margin responsiveness metric.
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions have issued for consultation proposed amendments to resilience guidance and public quantitative disclosure standards for central counterparties. The targeted updates would incorporate elements of the January 2025 BCBS-CPMI-IOSCO report on transparency and responsiveness of initial margin, including changes on simulation tools, measurement of initial margin responsiveness, governance of margin models, use of model overrides, and related CCP disclosures.
The European Central Bank updated its wage tracker for active collective bargaining agreements in nine euro area countries, showing a broadly unchanged forward-looking signal with negotiated wage growth stabilising around 2.6% by end-2026. The headline tracker with smoothed one-off payments indicates 3.2% growth in 2025 and 2.3% in 2026, with an intra-2026 upward profile driven by fading effects from large 2024 one-off payments. The forward-looking horizon remains capped at December 2026, with an extension to the first quarter of 2027 expected in the July 2026 release.
The Chile Financial Market Commission issued an investor alert stating that Soluciones FX, Flow Markets and Gate.io and related entities are not registered or authorized to provide services subject to its supervision. The authority urged investors to verify firm registration and management details on its website, conduct online checks for complaints or negative comments, and exercise caution regarding unsolicited contact, pressure to invest quickly, or unusually high promised returns.
The European Central Bank Banking Supervision has published the Eurosystem’s response to the European Commission’s consultation on EU banking sector competitiveness, arguing that competitiveness should be driven by a more integrated Banking Union, a simpler prudential framework and preserved resilience. The response calls for treating the Banking Union as a single jurisdiction, completing it through measures such as a European Deposit Insurance Scheme and a backstop to the Single Resolution Fund, and simplifying capital, MREL/TLAC, stress testing and reporting.
The Central Bank of Estonia published first-quarter 2026 cash circulation data showing issuance of 7.6 million banknotes worth EUR 252.1 million and 1.7 million coins worth EUR 1.1 million, down 11% from the previous quarter due mainly to lower banknote issuance. ATM cash withdrawals reached EUR 798 million and deposits EUR 419 million, both lower year on year, while the number of ATMs stood at 661 alongside cash services at 17 bank offices and about 700 shop tills. The central bank also reported ongoing kroon exchanges, an estimated EUR 43.3 million in unreturned kroon, and 70 counterfeit euro banknotes and 28 counterfeit coins.
The Bank of Israel detailed reforms by its Banking Supervision Department to open the banking market to new entrants, including approvals for Revolut Payments Israel Ltd. to progress in the banking licence process and for Esh Israel Bank Ltd. to gain access to and representation in payment systems. The reforms, anchored in the Promotion of Competition in the Banking Market (Legislative Amendments) Law, 5786–2026, establish a framework for micro and small banks, have enabled two new banks and expanded payment system access, and will be supported by a graduated regulatory regime tailored to banks’ size and complexity.
The Financial Stability Board warns that the rapidly growing private credit market, now estimated at USD 1.5 trillion to USD 2.0 trillion in assets, embeds material financial stability vulnerabilities, including deepening links with banks and other nonbanks, weaker borrower credit quality, opaque valuations, leverage, sector concentration and liquidity pressures. It highlights significant data gaps around bank credit lines and indirect exposures, and proposes comparable metrics and harmonised definitions to improve oversight, close data gaps, and strengthen analysis of links with private equity and insurers and of liquidity mismatches.
The Agency for Regulation and Development of the Financial Market of Kazakhstan outlined a new conduct supervision regime under the law on banks and banking activity, shifting from complaints-based to preventive consumer protection for banks and microfinance organizations. New rules require product suitability assessments, key information documents, bans on pre-ticked consents, and revised incentive structures, supported by governance and product reviews, AI-based mystery shopping, and conduct metrics for rapid intervention. Most measures take effect 60 days after publication, with product governance and unfair practice controls mandatory from 1 July 2026.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported that as of 1 April 2026 the banking sector comprised 23 second-tier banks with total assets of KZT 70.5tn, supported by a 0.9% increase in the loan portfolio to KZT 43.4tn and resident deposits of KZT 46.6tn amid dollarization of 19.9%. High-liquid assets were KZT 19.7tn, NPL90+ stood at 3.9% of loans with 61.9% provision coverage, capital adequacy ratios k1 and k2 were 20.8% and 21.5% respectively, and net profit reached KZT 592bn, down 10.8% year-on-year.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported modest March 2026 insurance sector balance sheet growth, with assets up 0.6% to KZT 4.0 trillion, liabilities up 1.2% to KZT 2.9 trillion and equity down 1.0% to KZT 1.1 trillion, mainly due to dividend payments. Premiums declined 4.8% year to date, driven by sharp falls in voluntary personal insurance after a June 2025 cap on agents’ commissions, while compulsory insurance premiums increased 17.4%. Claims rose 31.6% year on year to KZT 118.9 billion, mainly from voluntary personal insurance.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a stronger equity market in March 2026, with stock market capitalisation up 3.6% to KZT 46.3 trillion and equity trading volume up 17.8% to KZT 28.7 billion, driven mainly by KazMunayGas and KazTransOil. Government debt traded on the Kazakhstan Stock Exchange rose 6.7% to KZT 35.1 trillion, with total government securities trading up 17.9% to KZT 0.9 trillion and KZT 601.4 billion raised by the Ministry of Finance and regional administrations. Corporate bond trading declined 3.2% to KZT 345.0 billion, while assets under management in unit investment funds fell 6.1% to KZT 324.1 billion.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 16.1% month-on-month decline in March 2026 enquiries and complaints to 13,800, and imposed nine supervisory recommendations, two written orders and 17 administrative fines totaling KZT 10.4 million. It also reported progress under the Mortgage Housing Loans Refinancing Program, with banks refinancing 33,200 loans worth KZT 212.6 billion, converting or refinancing 16,200 foreign currency mortgages worth KZT 114.4 billion, and providing KZT 101.0 billion of additional support to 10,600 socially vulnerable borrowers.
The Uganda Insurance Regulatory Authority has directed all licensed insurance entities to begin implementing IFRS Sustainability Disclosure Standards, in line with Uganda’s national roadmap ahead of mandatory reporting from accounting periods beginning 1 January 2028. Firms must designate ESG and climate disclosure leads, build internal capacity, upgrade reporting systems, integrate climate-related risks into strategy and enterprise risk management, and set and disclose climate-related targets.
The Australian Securities & Investments Commission has issued infringement notices totalling AUD 792,000 to four companies in the Australian Canva Group for allegedly failing to lodge FY24 financial reports on time, with Canva Pty Ltd subsequently filing a consolidated report on 27 March 2026. ASIC said the action forms part of its 2026 enforcement priority on financial reporting misconduct, noting it has issued 21 infringement notices worth more than AUD 4 million and secured over AUD 1.1 million in court-imposed fines for alleged FY24 reporting breaches, with further investigations and enforcement ongoing.
The Honduras National Banking and Insurance Commission has announced the appointment of Omar Enrique Colindres Velásquez as Superintendent of Banks and Other Financial Institutions and Alejandra María Argueta Hernández as Risk Manager. The appointments were formalized under resolutions GAD No. 280/28-04-2026 and GAD No. 281/28-04-2026, both dated 28 April 2026.
The National Credit Union Administration has placed Jackson Area Federal Credit Union in Jackson, Mississippi into conservatorship due to unsafe and unsound practices, while maintaining full member services and operations. Member deposits remain protected by the National Credit Union Share Insurance Fund, which insures individual, joint, and certain retirement accounts each up to USD 250,000.
The U.S. Securities and Exchange Commission filed a civil complaint charging 21 individuals in an alleged 2018–2024 insider trading scheme that used material nonpublic information from multiple global law firms to trade ahead of more than a dozen U.S. corporate transactions, generating millions in illicit profits. The SEC alleges Los Angeles M&A lawyer Nicolo Nourafchan and Robert Yadgarov orchestrated the scheme, with confidential deal information passed through a tipping chain of traders. The defendants are charged with violating antifraud and, for some, tender offer provisions, with the SEC seeking injunctive relief, disgorgement with interest, and civil penalties, and the U.S. Attorney’s Office for the District of Massachusetts bringing parallel criminal charges.
The Superintendency of the Securities Market of Peru reported a sharp increase in corporate financing via primary public offerings, with 18 companies raising USD 701.24 million through 29 debt placements in the first four months of 2026, up 121% year-on-year. Nearly all issues were in soles, with maturities from 266 days to 12 years and average demand close to twice the amount offered. The authority said the data indicate that primary public offerings are consolidating as a competitive funding alternative, supported by regulatory facilities for securities registration and placement.
Payments Canada used its SUMMIT conference to reaffirm the centrality of payments modernization to Canada’s economic agenda and to provide an updated timetable for the Real-Time Rail, now in comprehensive testing, with industry testing to begin in Q3 2026 and launch planned for Q4 2026 subject to successful testing. Finance Minister François-Philippe Champagne linked the Real-Time Rail and recent changes to the Canadian Payments Act and other payment legislation to broader goals of productivity, security and competitiveness, while Payments Canada highlighted the system’s instant, irrevocable 24/7 payments, ISO 20022 messaging and centralized fraud detection, with phased onboarding once testing is complete.
The Central Bank of the Philippines’ Second Semester 2025 Report on the Philippine Financial System finds that banks and supervised non-bank financial institutions remained resilient, supporting the economy with growth in assets, deposits and lending and prudential metrics above regulatory minimums. As of end-December 2025, total bank assets reached PHP 29.9 trillion, deposits PHP 21.9 trillion and lending PHP 17.1 trillion, with a non-performing loan ratio of 3.1 percent and a consolidated capital adequacy ratio of 16.2 percent. The report also notes continued expansion in trust and foreign currency deposit unit services and ongoing reforms in governance, supervision, digital capabilities, and inclusive and sustainable finance.
The Angola Capital Markets Commission has launched Public Consultation Process No. 1/26 on a proposed law setting the legal regime for investment financial firms. The draft framework covers prudential requirements, minimum share capital, and governance of non-bank financial institutions linked to the capital markets and investment sector.
The Dubai Financial Services Authority has launched a public consultation on proposed enhancements to its Islamic finance regulatory framework for firms in the Dubai International Financial Centre. The proposals clarify when Authorised Persons require an Islamic endorsement to conduct Islamic financial business, strengthen disclosure requirements for Takaful sales, and introduce targeted technical amendments to the Islamic Finance Rules module of the DFSA Rulebook.
The International Monetary Fund has concluded its 2026 Article IV consultation with the Federated States of Micronesia, highlighting subdued medium-term growth and urging faster climate-resilient public investment, structural reforms and a credible medium-term fiscal framework that preserves buffers while supporting development and climate adaptation. The IMF projects growth of 0.7 percent in FY2026 with inflation at 3.2 percent, and recommends stronger public financial and investment management, tax modernization, continued reliance on grants and concessional borrowing, and prudent use of trust funds. The Board also noted a sound financial sector but rising nonperforming loans and called for digital banking, better information and stronger regulatory coordination to deepen finance and broaden credit access.
The Central Bank of the Bahamas has published its Bank Lending Conditions Survey, a 12‑question survey on private sector lending. The survey captures the number of loan applications received, approved and denied to gauge credit demand and collects banks’ assessments of quarterly changes in lending conditions.
The Bank of Italy has updated and streamlined its Guide for supervisory activities (Circular No. 269 of 2008), aligning prudential supervision methodologies and procedures for banks and non-banks with European efforts to simplify the regulatory, supervisory and reporting framework. The first phase introduces a modular structure with three levels of detail, presenting general principles, supervisory rationales and criteria for off-site and on-site supervision in a more linear format, with an extract of the 17th update published on its website. The Bank of Italy will consider further extensions of the public version and additional simplification and access functionalities as the framework evolves.
Greece's Ministry of National Economy and Finance published remarks by Eurogroup President Kyriakos Pierrakakis to the European Parliament outlining the Eurogroup’s priorities amid uncertainty from energy and geopolitical shocks, with the European Central Bank focused on returning inflation to 2% and fiscal support for energy prices remaining temporary, targeted and consistent with EU rules. He cited IMF analysis showing untargeted fuel and electricity support disproportionately benefits higher-income groups and stressed ongoing monitoring and coordination of national fiscal policies. Pierrakakis also highlighted investment in energy infrastructure, the Savings and Investments Union, deeper capital markets and banking integration, cyber resilience, and progress on the digital euro under the Markets in Crypto-Assets framework.
The Treasury of the Isle of Man announced that the Retirement Benefits Schemes (Amendment) Bill has completed its third reading in the House of Keys and will move to the Legislative Council. The bill would update the pensions regulatory framework, strengthen consumer protection, align the regime with international standards and bring pension providers within the scope of the Financial Services Act 2008, while allowing greater flexibility in how schemes may be established to support international pension products and the Island’s pension services sector.
The Guernsey Financial Services Commission has notified firms that 10 individuals and 8 entities have been designated under the United Kingdom’s Russia sanctions regime, which applies in the Bailiwick of Guernsey. Firms must identify any relationships with designated persons, freeze without delay related funds or assets, refrain from making funds or economic resources available unless a permitted derogation or licence applies, and report findings to the Policy and Resources Committee and the Commission in line with statutory and Handbook obligations.
The Guernsey Financial Services Commission has issued a feedback paper and updated its Handbook on Countering Financial Crime to clarify how firms may use technology within AML, CFT and countering proliferation financing controls. As part of the Commission’s Digital Finance Initiative, the changes provide guidance on tools such as electronic verification systems and digital signatures in client onboarding, monitoring and record-keeping, aiming to remove uncertainty and support responsible use of technology rather than implement new international standards.
The Chile Financial Market Commission has issued a public alert and filed a complaint with the Public Prosecutor's Office against five entities allegedly offering fraudulent credit while falsely claiming CMF supervision. The entities, including Prometheus Financial Cooperative, Credi Asset Group, Créditos Brokers, Condor Capital Cooperative and Credi Acceso, are accused of charging advance payments without disbursing loans, with two identified as imitators of authorised firms. The CMF also highlighted its Fraud Alert website for verifying supervised entities and reviewing alerts on unregulated activities.
The Chile Financial Market Commission’s Insurance Market Financial Report for year-end 2025 shows total insurance sales of USD 17,737 million, up 9.3% in real terms, with life insurance up 17.6% to USD 12,215 million and general insurance down 5.4% to USD 5,522 million. Profits reached USD 1,311.2 million, up 13.6%, with life insurers earning USD 983.2 million and general insurers USD 328 million, supported by higher retained premiums and stronger investment and intermediation results despite higher claims costs. Investment portfolios remained concentrated in domestic fixed-income instruments, at 53.7% for life insurers and 78.0% for general insurers.
The SEC’s Trading and Markets Director, following the April 16 roundtable, highlighted three potential options market structure improvements: better execution quality disclosure, limiting strike proliferation, and more efficient cross-market clearly erroneous trade policies, while stressing no immediate rulemaking is planned. He cited rapid options growth, rising 0DTE volumes, fewer market makers, and additional ideas including periodic specialist selection, auction review, expanded penny classes, stronger risk management for clearing capacity, and recent actions such as rescinding FINRA’s Pattern Day Trading rule and industry-led Options Regulatory Fee reform.
The U.S. Securities & Exchange Commission has proposed amendments to allow issuers to file semiannual reports instead of quarterly reports, with companies retaining the option to continue quarterly reporting. The proposal is framed as easing the reporting burden of public company status and seeks feedback on whether to reduce the substance of Form 10-Q requirements as an alternative or complement to optional quarterly reporting.
The Bank of Finland’s BOFIT research unit forecasts that China’s actual GDP growth has likely been below official figures and will slow from around 4 percent in 2026 to about 3 percent in 2028, with no rebound in domestic demand. Growth is expected to remain heavily export-driven amid weak consumption and investment, persistent real estate stress, large public deficits and trade surpluses, and elevated uncertainty linked to limited reforms, data reliability concerns and rising geopolitical tensions.
The National Bank of Moldova reported on a meeting between Governor Anca Dragu and European Parliament member Carla Tavares during the annual high-level Economic and Financial Dialogue between the EU and candidate countries. Discussions covered macroeconomic stability, central bank independence, financial sector reforms including payment infrastructure modernisation and Moldova’s accession to the Single Euro Payments Area, and the strategic goal of EU recognition of equivalence of Moldova’s banking prudential framework, within the broader EU support framework for meeting accession criteria and implementing the 2025-2027 Growth Plan.
The National Bank of Moldova reported that Governor Anca Dragu held talks in Brussels with the European Commission’s Directorate-General for Enlargement and the Eastern Neighbourhood on intensifying cooperation in Moldova’s European integration, including regulatory alignment with EU standards, access to technical assistance and strengthening central bank independence. Discussions also covered Moldova’s accession process, participation in the Single Euro Payments Area, and assessing equivalence between Moldova’s banking prudential framework and the EU framework under European Banking Authority methodology.
The National Bank of Moldova reported on high-level talks in Brussels between Governor Anca Dragu and European Commissioner Maria Luís Albuquerque on strengthening cooperation in financial services, financial sector stability and Moldova’s integration into the EU financial market. Discussions covered potential recognition of the equivalence of Moldova’s banking prudential framework with the EU framework, the impact of connecting to the Single Euro Payments Area, implementation of the Reform Agenda under the EU Growth Plan for Moldova, and further alignment of financial regulation and supervision with EU legislation.
The Central Bank of Libya has invited commercial banks to subscribe to Issue No. 15-2026 of unrestricted Mudaraba Deposit Certificates, following the same procedures and controls as previous issuances and the tenors and maturity dates specified in the announcement.
The Isle of Man Financial Services Authority has launched a short, non-mandatory survey to gather feedback from Island firms on its anti-money laundering and countering the financing of terrorism guidance and wider industry communications. Responses will inform a refresh of guidance documents, including sector-specific guidance, focusing on how firms use the material and potential improvements in awareness, navigation and clarity, as well as preferences for communication channels and platforms.
The U.S. Securities and Exchange Commission has proposed rule and form amendments to allow eligible public companies to satisfy interim reporting obligations with a single semiannual Form 10-S instead of three quarterly Form 10-Q filings, while retaining the option to continue quarterly reporting. Form 10-S would include the same disclosures and financial information as Form 10-Q for a six-month period, with the election made annually, and the proposal would also amend Regulation S-X to accommodate semiannual reporting and simplify age of financial statements requirements.
The Central Bank of Armenia held its refinancing rate at 6.50% in May, balancing above-target inflation and strong domestic demand against weaker global growth and lower country risk premiums. Annual inflation reached 4.5% in March, above the 3% medium-term target, while economic activity grew about 6.6%.
The U.S. Securities and Exchange Commission has proposed amendments to allow public companies to file a single semiannual report on new Form 10-S instead of three quarterly reports on Form 10-Q, while maintaining disclosure of material information. The proposal outlines factors issuers may consider in choosing their reporting cadence and notes that earnings calls and releases would remain at companies’ discretion. Chairman Paul S. Atkins said staff are exploring possible amendments to Regulation S-K and that further proposals are expected as part of a broader review of reporting and capital-raising rules.
The Brazilian Pension Funds Authority (PREVIC) reminded closed supplementary pension entities (EFPCs) to pay the Taxa de Fiscalização e Controle da Previdência Complementar (Tafic) for the second four-month period of 2026, calculated on guarantee resources in the March 2026 accounting trial balance. Payments must be made via PREVIC’s GRU issuance system using a Gov.br account, with late payments subject to interest and penalties under PREVIC Resolution 23/2023. Tafic, established by Law 12.154/2009, finances PREVIC’s supervision of pension funds covering over 8.2 million participants.
The United States Securities and Exchange Commission has proposed a more flexible Exchange Act reporting framework allowing companies to meet interim obligations with semiannual reports on new Form 10-S instead of quarterly Form 10-Q filings, with corresponding Regulation S-X amendments. The proposal aims to better align reporting cadence with different business models and investor expectations, while retaining Form 8-K current reporting and other disclosure channels, and responds to concerns that quarterly reporting drives short-termism and disproportionate compliance costs.
Senator Elizabeth Warren, ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has asked Stanley Druckenmiller, Chairman and CEO of Duquesne Family Office LLC, to release Federal Reserve chair nominee Kevin Warsh from confidentiality agreements that prevent disclosure of more than USD 100 million in assets. Warren argues the undisclosed holdings pose conflict-of-interest risks, questions how Warsh’s interests would be redeemed if he is confirmed, and has requested a response before the Senate vote.
The Banking Agency of the Federation of Bosnia and Herzegovina marked its 30th anniversary with a conference in Sarajevo on the role of the banking regulator in a changing financial order, emphasising its mission to preserve stability, protect depositors and strengthen confidence in the banking sector. Participants discussed the role of central banks and regulators amid market transformation, technological change and climate challenges, underscoring the importance of regulatory cooperation and alignment with international standards.
The Monetary Authority of Macao and the Economic and Technological Development Bureau have enhanced the 2026 catastrophe property insurance scheme for SMEs by adding typhoon parametric cover and increasing premium subsidies funded by the Industrial and Commercial Development Fund. Eligible firms can buy one policy per establishment from six local insurers with sums insured between MOP 100,000 and MOP 500,000, and receive either assessed-loss indemnity or a parametric payout of 10 percent of the sum insured if tropical cyclone signal No. 10 is in force for at least 10 hours. Government support now covers 70 percent of annual premiums after no-claim discounts, capped at MOP 35,000, with 114 subsidised policies issued to date and five claims paid.
The Securities & Exchange Board of India has warned securities market intermediaries about cyber risks from advanced AI tools and created a cyber-suraksha.ai task force for a coordinated response. The task force will assess AI-driven cybersecurity risks, develop a uniform mitigation strategy, facilitate threat intelligence sharing, and review third-party providers. SEBI’s advisory sets expectations for immediate and virtual patching, enhanced vulnerability assessments and SOC monitoring, stronger vendor and API controls, and longer-term plans for AI-based detection and mitigation.
The Securities and Exchange Board of India has issued a circular defining when benchmarks and indices based on listed securities qualify as Significant Indices under the SEBI Index Providers Regulations, 2024, and has published an initial list of 48 such indices. An index qualifies if mutual fund schemes tracking or benchmarking it have daily average cumulative assets under management above INR 20,000 crore for each of the past six months in the half years ending 30 June and 31 December. Index providers of listed Significant Indices must register with SEBI within six months unless all their Significant Indices are notified or classified by the Reserve Bank of India, and entities currently conducting index provider activities departmentally must transfer these to a separate legal entity within two years.
Federal Reserve Vice Chair for Supervision Michelle W. Bowman outlined a coordinated response to rising consumer and payments fraud, citing survey data showing 21 percent of American adults experienced fraud in 2024 and non‑credit card fraud caused USD 84 billion in losses, with consumers absorbing an estimated USD 63 billion. She said feedback on a joint request for information by the Federal Reserve, FDIC, and OCC is informing potential enhanced bank guidance, stronger fraud tools across Fed payment platforms, and standardized fraud and scam classifier models. Bowman also highlighted planned public‑private engagement and a broader review of whether existing regulations remain fit for modern fraud threats and victim recovery.
The Financial Transactions and Reports Analysis Centre of Canada imposed an administrative monetary penalty of CAD 42,075 on VersaBank for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. Deficiencies included failures to maintain senior officer–approved written compliance policies and procedures and to take special measures for high-risk clients; the penalty has been paid in full and the case is closed.
The Financial Transactions and Reports Analysis Centre of Canada has imposed an administrative monetary penalty of CAD 24,750 on RE/MAX Twin City Realty Inc. for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. A compliance examination found the brokerage failed to assess and document the risk of a money laundering or terrorist financing offence, and FINTRAC confirmed the penalty has been paid in full and the case is closed.
The Financial Transactions and Reports Analysis Centre of Canada imposed an administrative monetary penalty of CAD 51,562.50 on Birks Group Inc., operating as Birks, on 11 March 2026 following a compliance examination. The dealer in precious metals and precious stones was sanctioned for failures relating to written compliance policies and procedures, risk assessment and documentation, and the required biennial compliance review under Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Indonesia’s Financial Services Authority (OJK) said the financial system remains stable, with solid credit growth, strong capital and manageable asset quality despite global uncertainty and market volatility. OJK announced extended reporting deadlines for insurers, changes to the Financial Information Service System, new banking social media guidance, capital market roadmaps, enhanced insurance broker verification and extended stock market stabilisation tools. It also flagged upcoming rules on financial groups, digital and tokenised assets and governance, and detailed licence revocations, special supervision of insurers and pension funds, cross‑sector sanctions and action against online gambling‑related accounts.
The Central Bank of Barbados has suspended the licence of Zeemoney (Barbados) Limited from 5 May 2026 to 4 June 2026, prohibiting it from conducting any money or value transmission service provider business. The action follows a supervisory review and developments that heightened concerns over the firm’s financial condition, governance, operational continuity and compliance, and Zeemoney has been directed to remediate all deficiencies under Section 50(1)(a) of the Financial Institutions Act, Cap. 324A or face further supervisory action.
The Zimbabwe Insurance and Pensions Commission has published a notice cancelling the licence of Heritage Life Limited Company pursuant to section 22 of the Insurance Act Chapter 24-07.
The European Commission welcomed the entry of 18 Serbian banks into the Single Euro Payments Area schemes, which is expected to make euro transactions with the European Union more reliable, faster and cheaper, and could save individuals and businesses up to EUR 400 million. The move, decided by the European Payments Council after Serbia entered SEPA’s geographical scope in May 2025, is intended to simplify international transactions for small and medium-sized enterprises and support cross-border trade under the Growth Plan for the Western Balkans.
The European Central Bank published a keynote speech by Executive Board member Philip R. Lane on integrating climate change and the green transition into the ECB’s economic analysis, projections and monetary policy, noting that climate shocks can affect potential output, inflation, volatility and monetary transmission. The speech cites ECB and Eurosystem analysis of climate and policy shocks on euro area inflation, including alternative pathways to the EU’s 2030 emissions target and the impact of the planned EU Emissions Trading System 2, and notes emerging bank differentiation of credit conditions by climate profile. It confirms that the Eurosystem will further embed climate scenarios into projections and models and recalls climate-related adjustments to corporate bond reinvestments and collateral frameworks.
The Egypt Financial Regulatory Authority published remarks by Chairperson Islam Azzam highlighting arbitration as key to improving the investment climate and reducing court reliance. He cited a Prime Ministerial decision amending the Egyptian Center for Voluntary Arbitration’s statute to introduce electronic arbitration rules and an expedited track for disputes up to EGP 25 million. Azzam linked enhanced arbitration and mediation to the Authority’s priorities for non-banking financial activities, including greater use of financial technology, and signalled continued support for strengthening dispute resolution.
The Egypt Financial Regulatory Authority has approved six fintech-related initiatives in non-bank financial activities, including the establishment of Value for SME finance as a fintech startup and preliminary sandbox entry for an Orient Insurance motor insurance project using remote inspection and damage assessment technology. CFH and Beltone Securities Holding were authorised to conduct custody activities using V-Lens for electronic verification, while Cairo Capital Securities and Al Ahly Pharos Securities were authorised to conduct securities trading using V-Lens, following recommendations from the committee overseeing fintech applications.
The Central Bank of Seychelles has issued Guidelines on Unfair Contract Terms in Financial Services to enhance fairness and transparency in contracts between regulated financial service providers and consumers. The guidelines define automatically unfair clauses, introduce a Fairness Test for other potentially unfair terms, and require providers to review and amend existing contracts, with compliance monitored through supervisory processes and the power to mandate removal of unfair terms.
Latvia’s Ministry of Finance reported that Finance Minister Arvils Ašeradens told the EU Economic and Financial Affairs Council that Latvia supports capital market integration and is open to targeted EU-level supervision of significant cross-border market infrastructure, provided it adds clear value, limits fragmentation and maintains a balanced division of responsibilities with ESMA. He said any new centralised supervisory arrangements should be assessed for effectiveness and cost, with alternatives such as stronger supervisory colleges considered, and that supervision of smaller market participants, including small crypto-asset service providers, should remain national and proportionate. Ašeradens also urged continued EU support for Ukraine, welcomed the EUR 90 billion loan, backed using frozen Russian assets and a 20th sanctions package, and supported combining macroeconomic assistance with investment in Ukraine’s defence industry.
The National Bank of Georgia published a monthly review of banking and financial sector conditions and key macroeconomic indicators, reporting annual inflation of 5.9% in April and services inflation of 3.7%. Banking sector loan growth reached 14.9% year on year in March, with deposit dollarization at 46.6% and credit portfolio dollarization at 42.5%. In the external sector, March goods imports rose 4.7% year on year to USD 1.6 billion and exports increased 24.0% to USD 697.0 million, while international reserves stood at USD 6.3 billion.
The Central Bank of Luxembourg published provisional March 2026 balance sheet statistics for credit institutions, reporting an aggregate balance sheet total of EUR 1,026,980 million, up 2.60% month-on-month and 4.06% year-on-year, mainly driven by higher interbank claims and liabilities to other sectors. The interbank balance rose 6.14% to EUR 236,077 million, loans to non-bank customers increased 1.05% over the month and 4.88% over 12 months, and resident non-bank sector deposits grew 4.51% over the month and 6.25% year-on-year, with inflows from other financial intermediaries partly offset by lower deposits from non-financial corporations.
The Central Bank of Luxembourg set the reserve requirement for the 25 March 2026 to 5 May 2026 maintenance period at EUR 6.649 billion, an increase of EUR 201 million from the previous period. It also noted that statistical series on credit institutions’ minimum reserves are available on its website.
The Federal Deposit Insurance Corporation has published its latest list of Community Reinvestment Act performance ratings for 46 state nonmember banks based on evaluations completed in February 2026. Eight institutions were rated Outstanding and 38 Satisfactory, with none rated Needs to Improve or Substantial Noncompliance.
International Monetary Fund staff reached a staff-level agreement with Guinea-Bissau on policies underpinning the eleventh review of the Extended Credit Facility arrangement, following achievement of all end-March 2026 program targets. Subject to implementation of prior actions and approval by IMF management and the Executive Board, Guinea-Bissau could draw SDR 1.18 million (about USD 1.6 million), bringing total disbursements under the arrangement to SDR 38.58 million (about USD 52.8 million).
The Ukraine National Commission on Securities and Stock Market took part in an Interagency Working Group on European Integration meeting, where Ukrainian authorities briefed European Union representatives on progress and planned measures to align with EU standards and meet negotiation benchmarks. EU participants focused on the status of anti-corruption reform and the pending anti-corruption strategy, while the Commission reiterated it must align 187 regulatory acts and prepare 22 draft laws in the capital markets area.
The National Bank of Hungary published remarks by Governor Mihály Varga highlighting that Hungary has preserved macro-financial stability despite an unfavourable global environment, supported by a balance of payments surplus, a strengthening forint, nearly EUR 60 billion in reserves, and a banking system with adequate liquidity and free capital reserves. He noted that inflation has fallen significantly over the past year, with the stronger forint and price restriction measures slowing price increases, but warned that the Iranian conflict and new government economic policies will be important for the inflation outlook.
The Ministry of National Economy and Finance (Greece) published remarks by Minister and Eurogroup President Kyriakos Pierrakakis at ECOFIN supporting the European Commission’s approach on the Savings and Investments Union and urging implementation. He backed strengthening the European Securities and Markets Authority, arguing for EU-level supervision based on objective criteria such as cross-border activity and operational importance, while maintaining national capabilities, and linked this logic to cross-border bank integration, the digital euro and broader capital markets union measures.
Sweden’s Ministry of Finance has proposed a bill to expand Statistics Sweden’s Fasit microsimulation model to include household debt and debt payment data, to strengthen analysis of household resilience to economic shocks and support policy design. Statistics Sweden would collect mortgage and other loan information from lenders, with processing limited to a smaller set of personal data from Fasit’s MSTAR sample of about 31,000 households and 92,000 individuals, subject to parliamentary approval.
The Central Bank of the Republic of Uzbekistan met Standard Chartered at the 59th Asian Development Bank Annual Meeting to discuss cooperation on international reserve management and digital finance. Talks covered diversifying and automating reserve management while maintaining a conservative approach, plus digital banking, fintech, digital assets, custody, and cross-border settlement infrastructure. Both parties agreed to continue dialogue on practical cooperation, including custody services, clearing solutions, technical assistance, and broader financial market infrastructure.
The Central Bank of the Republic of Uzbekistan met Zuercher Kantonalbank on the sidelines of the Asian Development Bank’s 59th Annual Meeting to discuss cooperation in international reserve management, money market and foreign exchange operations, gold trade, and professional training. The parties reviewed bilateral cooperation since 2019, highlighted the money market as a key ongoing focus, and signalled readiness to deepen collaboration, including through Zuercher Kantonalbank training programmes.
The Bank of Greece’s Financial Stability Review finds Greek banks further strengthened resilience in 2025 but face risks from higher international energy prices, geopolitical uncertainty and potential sharp repricing of financial assets. Profit after tax rose to EUR 4.7 billion, capital ratios remained satisfactory (CET1 15.3%, Total Capital 19.7%) and the non-performing loan ratio fell to 3.3%, the lowest since euro area entry. The review also covers the Systemic Risk Heatmap, distributed ledger technology in financial markets and implementation of the Digital Operational Resilience Act ICT third-party risk framework, warning that a prolonged Middle East conflict could weaken borrowers’ financial positions and banks’ portfolio quality.
The Financial Services and the Treasury Bureau said Secretary Christopher Hui used the Asian Development Bank Annual Meeting in Samarkand to position Hong Kong as a regional platform for green and sustainability finance and to promote a world-class international gold trading market. Hui highlighted Hong Kong’s ability to channel capital to projects with positive social and environmental impact and said it is exploring regional dialogue to build a more connected and innovative gold ecosystem, while also promoting Hong Kong’s financial and professional services to Thai officials.
The French Financial Markets Authority has updated its inspection charter to add new CORE Risk Observation and Lessons campaigns for financial investment advisers and to reflect changes in inspection practices and cooperation expectations. The revised framework replaces large-scale desk-based inspections with simultaneous document-based CORE campaigns that may lead to on-site inspections, clarifies that deliberately inaccurate information breaches the duty of loyalty, expands remote interview provisions, and confirms that the right to remain silent does not apply during inspections before a statement of objections. For CORE cases without on-site follow-up, advisers will receive observation letters with an analysis grid, and the authority will publish annual syntheses of lessons learned.
The Hellenic Capital Market Commission approved the information sheet for PRODEA Real Estate Investment Company’s optional public offer to holders of its 2021 CBL bonds. The offer covers the acquisition of up to 50,000 bonds, representing 16.667% of the total outstanding bond principal, under Article 6(2) and other proportionally applicable provisions of Law 3461/2006.
The Superintendency of Banks of Ecuador has requested supervised entities provide anti-money laundering and counter-terrorist financing due diligence data on individuals identified in financial intelligence analyses tied to Case Encuentro, covering January 2021 to December 2024. Acting under its supervisory and AML legal powers and in coordination with the Financial and Economic Analysis Unit, it seeks details on financial products, onboarding and know-your-customer records, risk profiles, transaction monitoring alerts, and any Suspicious Transaction Reports, noting the request does not imply any determination of liability.
The European Securities and Markets Authority has launched a consultation on revising how calibration parameters for stress test scenarios are updated under the Money Market Funds framework. ESMA proposes to stop annually amending Section 5 of the Guidelines and instead publish the updated calibration parameters each year on its website, which would remain the single access point while the Guidelines continue to set out the stress testing framework and methodology. The change is intended to enable immediate application of updated parameters and reduce compliance and supervisory burdens.
The European Central Bank has published a working paper on its 2024 Cyber Resilience Stress Test, finding that supervisory scrutiny was associated with materially higher cybersecurity investment by euro area banks that had previously underinvested relative to their cyber risk profiles. Using confidential data for 109 Significant Institutions from 2019 to 2024, the authors estimate that the March 2023 announcement of the exercise was followed by an average 45 percent increase in cybersecurity investment across the sector and about 80 percent among laggard banks. The paper is presented as research and states that the views are those of the authors and do not necessarily reflect those of the European Central Bank.
The European Central Bank has published a working paper mapping cross-sector financial exposures across the 20 euro area economies using who-to-whom data for Q4 2024, finding that banks sit at the core of national financial networks in most countries. Cyprus, Ireland, Luxembourg and Malta are exceptions, where investment funds and other financial institutions are more central and more strongly linked to the rest of the world than to domestic sectors. The paper also suggests pension funds appear less likely to transmit shocks, while some small sectors, including money market funds and insurance corporations, could act as shock transmitters in some countries.
European Central Bank President Christine Lagarde said the ECB has moved from merely recognising climate risk to systematically integrating climate and nature-related risks into monetary policy and central banking. Its Climate, Nature and Monetary Policy Conference aims to deepen analysis of their macroeconomic effects. She cited ECB research on inflation and output impacts of climate shocks, including last summer’s heatwave and water scarcity, and said the new EU emissions trading system for buildings and road transport is already built into projections, adding an estimated 0.2 percentage points to euro area headline inflation in 2028. The roadmap from the 2021 strategy review has been largely implemented across stress testing, risk assessment, corporate bond holdings and the collateral framework.
The European Central Bank has published the disaggregated financial statement of the Eurosystem for 3 April 2026, reporting total assets and liabilities of EUR 6,253,432 million. Key assets include EUR 3,928,753 million in euro‑denominated securities of euro area residents, largely held for monetary policy purposes, and EUR 1,392,650 million in gold and gold receivables. Main liabilities comprise EUR 2,504,954 million in monetary policy‑related liabilities to euro area credit institutions and EUR 1,618,975 million in banknotes in circulation. Capital and reserves may be negative for some national central banks due to accumulated losses carried forward.
The Thailand Securities and Exchange Commission has signed a memorandum of understanding with LINE Company Thailand Limited to distribute investment fraud prevention and investor education content via the LINE TODAY platform, covering the capital and digital asset markets. The cooperation aims to broaden public access to information on scam prevention, investor protection and investment knowledge, with the regulator urging investors to verify the authorization or licensing status of individuals, products and companies through official channels.
The Croatian Financial Services Supervisory Agency published decisions from its 68th management board meeting, including a new rulebook on covert supervision under the Capital Market Act, amendments to the fee rulebook for management companies, and alignment with ESMA guidelines on liquidity management tools for UCITS and open-ended AIFs. It approved restructurings for several investment funds, authorised a new UniCredit Invest umbrella UCITS with target-maturity fixed income sub-funds, imposed remediation measures on OTP invest, Blok Be and FiatBit Technologies, closed a supervision case against EUROHERC osiguranje, and issued various insurance, leasing and distribution authorisations.
The Central Bank of Chile has published its Determinants and Expectations of Prices Survey for January–March 2026, indicating renewed cost pressures, stable selling prices, unchanged sales volumes and slightly lower profit margins. Firms report stronger upward pressure on prices from costs and input availability, partly offset by weak sales, and more expect higher input costs and selling prices over the next 12 months. Median inflation expectations rose to 3.3% at 12 months, while the 24‑month median remained at 3%.
The European Banking Federation submitted responses to the European Commission’s consultation on the possible use of international carbon credits toward the 2040 European Union Climate Law targets. It also responded to the Greenhouse Gas Protocol public consultation on Scope 2 guidance.
The Slovenia Ministry of Finance reported on EU Economic and Financial Affairs Council talks on granting the European Public Prosecutor’s Office and the European Anti-Fraud Office centralised access to EU VAT data, with broad support subject to legal certainty, proportionality and data protection. Slovenia backed the savings and investment union market integration and supervision package, supporting simplified cross-border fund distribution, harmonised trading and settlement, and a stronger role for ESMA for significant cross-border entities, while seeking safeguards for smaller markets and balanced governance. Ministers also reviewed support for high energy prices, simplification and cost-benefit assessment of EU legislation, implementation of the Recovery and Resilience Facility, and the economic and financial impact of the wars in Ukraine and the Middle East.
The Azerbaijan Ministry of Finance held bilateral meetings at the Asian Development Bank Annual Meeting, agreeing with Georgia to prepare and sign a cooperation memorandum between their finance ministries. Talks with Georgia addressed Middle Corridor transport and transit policy, regional energy initiatives, and public finance reforms, while separate discussions with China’s Ministry of Finance and the Asian Infrastructure Investment Bank focused on expanding investment in industrial zones, export diversification, and financing for energy, transport, sustainable infrastructure, and digital projects.
The National Bank of Serbia announced that Serbia’s banking sector is now fully operational for cross-border euro payments and collections via the SEPA Credit Transfer scheme, integrating the country into the Single Euro Payments Area. The central bank will execute SEPA payments for budget users, while 18 domestic commercial banks will provide SEPA services to households and businesses. The scheme is expected to shorten execution times, lower and make fees more transparent, and enhance predictability, security and ease of international transactions.
The Central Bank of Slovenia published climate-related disclosures for its financial asset portfolio, reporting green, social and sustainable bond holdings of EUR 748 million at end-2025, up EUR 122 million year-on-year and sufficient to meet its first medium-term climate target. These bonds now account for about 11.5% of its portfolio. The weighted carbon intensity of its non-financial corporate bond and equity portfolios has fallen by about 50% and 74%, respectively, and is around 81% and 84% lower than comparable reference indices. The bank targets at least EUR 800 million in green, social and sustainable bonds by 2030 and aims to bring portfolio greenhouse gas emissions as close as possible to net zero by 2050.
The Isle of Man Financial Services Authority has published an initial consultation on introducing a legitimate interest route for access to beneficial ownership information via an application-based process. The proposals would require the Central Registry to assess applications case by case, with tests on legitimate purpose and necessity, evidential requirements, limits on disclosed information, and safeguards including exemptions and restrictions on use. The initiative follows a joint commitment by the Isle of Man, Jersey and Guernsey to enhance access to beneficial ownership information while protecting privacy and personal safety.