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2025-07-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public scam alert following reports of bank-related fraud involving fake websites and phishing emails. The alert highlights that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-25•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) warned about fraudulent websites falsely claiming CySEC affiliation to help investors recover losses. Identified sites include getyourmoneyback.ltd and chargebackinternational.com, targeting online fraud victims for personal and financial information. CySEC clarified it does not contact individuals unsolicited, request personal data, or authorize compensation schemes, urging investors to verify communications before acting.
SupervisionAlertsFraud and scams
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2025-07-25•Global•Ceres
Ceres appointed Steven M. Rothstein as Chief Program Officer, overseeing all programmatic work to advance its mission globally. Rothstein's leadership at the Ceres Accelerator included advocacy with financial regulators and initiatives like the US SEC's climate-risk disclosure rule and California's climate disclosure surveys.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Bekzhan Olzhaevich Pirmatov as an independent board member of a second-tier bank.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, under an order dated 18 July 2025, withdrew its consent for the appointment of Irina Eduardovna Khondy to a managerial position.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency warns of increased scam risks for children during summer holidays, as fraudsters target their online activity to access parents' financial data. Common schemes include fake prize promotions, malicious apps, and suspicious links, leading to data breaches. Parents should discuss online risks with children, use antivirus software, and teach digital and financial literacy.
SupervisionAlertsConsumer and investor protection
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2025-07-25•Ghana•Bank of Ghana
The Bank of Ghana's Governor, Dr. Johnson P. Asiama, highlighted Non-Interest Banking and Finance (NIBF) as a profit-and-loss sharing model aimed at enhancing financial inclusion in Ghana. NIBF prohibits interest and speculative investments, focusing on ethical financing and excluding sectors like alcohol and gambling. The Governor noted the global NIBF balance sheet exceeds USD 5.5 trillion and linked instruments like Sukuk bonds to Ghana's infrastructure financing needs.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-07-25•Zambia•Zambia Securities & Exchange Commission
The Zambia Securities and Exchange Commission penalized Mr. George Nshindano Mtonga for unlicensed investment advice and promoting an unauthorized investment scheme, and Mukwa Fund Limited for dealing in securities without a license. Mr. Mtonga used social media to promote himself and Mukwa Fund, soliciting funds without proper licensing, while Mukwa Fund Limited advertised securities services online without authorization.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City's July Services Survey indicates a modest decline in services activity in the Tenth District, though future expectations remain positive. Input prices eased while selling prices were unchanged. New seasonal adjustment factors have been applied, resulting in slight revisions to historical indexes.
Data & statisticsEconomic data and developments
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2025-07-25•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan and the National Financial Regulatory Administration of China signed a Memorandum of Understanding to enhance cooperation on banking supervision. The MoU includes information exchange, coordination on anti-money laundering and counter-terrorism financing, and support for Chinese banks in Uzbekistan. It also encompasses mutual consultations and experience-sharing in financial and banking supervision.
SupervisionCooperationCross-border cooperationAML and CFT
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2025-07-25•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission participated in the 24th National Life Insurance Day, emphasizing life and health insurance as essential for financial planning amid Thailand's ageing society. The event, organized with industry associations, highlighted low insurance penetration and the need for innovation to expand coverage. Activities included insurer booths, financial guidance, and a blood donation campaign.
Financial literacy & educationOther
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2025-07-25•Kyrgyzstan•Ministry of Finance (Kyrgyzstan)
The State Financial Intelligence Service under the Ministry of Finance of Kyrgyzstan fined a commercial bank KGS 830,000 for violating national TEC/CCLC requirements. Infractions included inadequate internal control systems, non-compliance with information submission protocols, and breaches of financial sanctions related to countering terrorist financing and money laundering.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-25•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities and Commodities Authority fined a licensed company AED 5 million and referred it to the Public Prosecution for misrepresenting its licensing status and misleading clients. The firm violated anti-money-laundering regulations and failed to obtain necessary approvals for its investment plans. The SCA advised investors to verify the licensing status of service providers and report suspicious activities.
EnforcementInvestigations & enforcement actions
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2025-07-25•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) proposes allowing closed pension funds to accumulate up to three years of deficits before requiring a recovery plan, if the solvency ratio is above 75% and the deficit is cyclical. PREVIC also aims to revise the administrative sanctions framework, expanding violation typologies and increasing fines, with a draft decree introducing a “regular management act” to differentiate good-faith actions from misconduct. These proposals are under discussion and pending approval by relevant authorities.
Policy & regulationRules & requirementsPrudential risks
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2025-07-25•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten clarified that Fatum General Insurance N.V., Fatum Health N.V., and Fatum Life N.V. meet prudential requirements despite concerns about their shareholder's financial position. These insurers operate as independent entities with separate supervision and resources. The central bank will continue to monitor the situation and intervene if needed.
SupervisionRisk monitoring & watch pointsPrudential risks
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2025-07-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) supports the Department of Transportation's implementation of tap-to-pay and scan-QR technologies at Metro Rail Transit Line 3 stations to expand digital payments. This collaboration with G-Xchange Inc. (GCash) aims to streamline fare collection without requiring top-ups or single-use tickets. The BSP emphasizes compliance with interoperability and competition principles under the National Retail Payment System framework, with plans to extend these technologies to other transit systems.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Q2 2025 Senior Bank Loan Officers’ Survey indicates that most banks anticipate maintaining lending standards for enterprises and households in Q3, with a slight net tightening. For enterprise lending, 91.1% of banks expect unchanged standards, while 85.0% foresee the same for household lending. Business and household loan demand is expected to remain steady, with no banks predicting a decline.
Data & statisticsLending
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2025-07-25•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) announced that the liquidator of FWU Life Insurance Lux S.A. has begun distributing pre-filled forms for privileged creditors to file claims in the liquidation proceedings. Due to many affected customers, forms will be sent progressively, but receipt timing will not impact claim amounts or payment schedules. A notice will be posted on the liquidation website once distribution is complete for creditors who have not received their forms.
SupervisionInterventionsRecovery and resolution
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2025-07-25•Serbia•National Bank of Serbia
The National Bank of Serbia issued a consumer note on SMS phishing and investment scams, detailing how these frauds operate and offering advice to identify suspicious messages. The guidance highlights common impersonation tactics in Serbia and advises users to verify links independently and avoid disclosing confidential payment information. It also notes that while refunds may be possible for victims, banks are not liable for voluntary transfers in investment fraud cases.
Financial literacy & educationFraud and scams
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2025-07-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) updated reporting forms for Real Estate Investment Funds (FII) and enabled structured submission of the Portfolio Composition and Diversification Statement (CDA) for FIAGRO via Fundos.Net. New FII report versions will be available from 28 July 2025, with mandatory use from 1 September 2025. FIAGRO's CDA submissions must use the new format for the September 2025 base date, with optional early adoption for June 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-25•Germany•German Bundesbank
The German Bundesbank reported a rise in counterfeit euro banknotes in the first half of 2025, with 36,600 notes withdrawn, marking an 8% increase from the previous period, while the nominal value remained nearly unchanged at just under EUR 2.1 million. Counterfeits shifted towards EUR 50 and EUR 100 notes, while EUR 200 and EUR 500 notes saw a decline. Counterfeit coins also rose by 12%, predominantly affecting EUR 2 coins.
Data & statisticsFraud and scams
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2025-07-25•Albania•Albania Financial Services Authority
The Albania Financial Services Authority's Board approved the 2024 Supervision Report and made decisions on asset administration, audit arrangements, and governance appointments at regulated entities. Amendments to Regulation No. 146 on asset administration were approved, and an audit firm was appointed for SHAFP and SIK Raiffeisen Invest sh.a. Governance reappointments included positions at Eurosig sh.a., Credins Invest sh.a., Sigal Uniqa Invest sh.a., and the Albanian Securities Exchange ALSE sh.a.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-25•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said the direct investment figures used in ECLAC's latest regional report are preliminary estimates, not final 2024 data. Final 2024 figures will be published in October 2025 and added to the balance of payments tables in December 2025. The bank also said differences with ECLAC can be material because of both data revisions and methodology.
Policy & regulationGuidance & interpretationBalance of payments and other external statistics
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2025-07-25•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC filed criminal complaints against Creditable Lending Corporation and its employees for alleged abusive debt collection via the Easypeso app. The case involves violations of the Financial Products and Services Consumer Protection Act, Data Privacy Act, and Cybercrime Prevention Act, following arrests and seizures at the company's office. Additionally, the SEC issued a cease and desist order to halt all lending activities by Creditable Lending and Easypeso.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-07-25•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario revoked Expert Financial Corporation’s mortgage brokerage licence and imposed CAD 70,000 in penalties on the firm and two individuals. This action follows settlements over facilitating unlicensed mortgage business and other compliance breaches.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has introduced a lien creation form under the Insurance Act for liens on Central Securities Depository instrument accounts, naming the Authority as the beneficiary. The form details account specifics, value date, issue and maturity dates, and lien amount. It mandates that liens on insurers' or HMOs' security deposits in commercial banks require the Authority's prior written approval for withdrawal.
Policy & regulationGuidance & interpretationOther
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2025-07-25•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo released June 2025 statistics for non-bank financial institutions, noting asset increases for other financial intermediaries and insurance companies. Other financial intermediaries' assets rose to EUR 671.28 million, with loans comprising 74.44%. Insurance companies' assets increased to EUR 347.16 million, while pension fund assets totaled EUR 3.38 billion, predominantly in equities.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senior Democrats on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Senator Jeff Merkley and Ranking Member Elizabeth Warren, questioned FHFA Director William Pulte's directive for Fannie Mae and Freddie Mac to consider unconverted cryptocurrency assets in mortgage underwriting. They argue this could increase consumer risk and raise safety and soundness concerns for U.S. housing and financial markets, highlighting risks related to crypto volatility, liquidity, and potential conflicts of interest due to Pulte's dual role as chair of both Enterprises' boards.
Policy & regulationOther
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs reintroduced the Business of Insurance Regulatory Reform Act to clarify the Consumer Financial Protection Bureau's jurisdiction and reinforce state-based insurance regulation. The legislation asserts that the "business of insurance" is outside the CFPB's remit under Title X of the Dodd–Frank Act, aligning with the McCarran-Ferguson Act. Companion legislation is led in the U.S. House by Congressman Bryan Steil, supported by various trade groups.
Policy & regulationRules & requirementsOther
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2025-07-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs detailed the bipartisan “Build Now Act” by Elizabeth Warren and John Kennedy, linking Community Development Block Grant (CDBG) funding to housing supply outcomes. The bill proposes increased CDBG funding for communities improving housing construction, with reductions for underperformance after a two-year grace period. It targets areas with high housing demand and low supply, excluding those with low demand, economic distress, or recent natural disasters.
Policy & regulationReform agendas & prioritiesOther
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2025-07-25•Europe•European Payments Council
The European Payments Council released a collection of external reports from Q2 2025, focusing on the payments industry's evolution. The compilation includes key publications from the European Central Bank, Payments Europe, Bank for International Settlements, European Banking Authority, The Paypers, and PwC. The views in these reports are those of the authors and not attributed to the European Payments Council.
ResearchPayments and payment systems
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia clarified that banks are exempt from applying the statutory antifraud cooling-off period to car loans when proceeds are transferred directly to an auto dealer. This guidance precedes the 1 September 2025 requirement for a cooling-off period on loans above RUB 200,000, aimed at fraud prevention. The exemption is due to the minimal fraud risk when funds are credited directly to the seller’s account.
Policy & regulationGuidance & interpretationLending
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia revoked GS Invest LLC's depository licence effective 24 July 2025 due to non-compliance with securities market requirements under Russian President Executive Order No. 138. GS Invest LLC is required to cease depository activities and return all client assets by 24 November 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-25•Russia•Central Bank of Russia
The Central Bank of Russia has extended its partnership financing experiment through September 2028, originally set to end in 2025. The updated law expands permitted operations, introduces mutual insurance, and establishes a special committee for approving standards. It also mandates advertising disclosures and broadens criteria for participant entry and removal to mitigate risks.
Policy & regulationRules & requirementsSME financing
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2025-07-25•Pakistan•State Bank of Pakistan
The State Bank of Pakistan has introduced a consolidated customer onboarding framework to standardize and simplify account opening, including digital options for individuals and businesses. Banks and regulated entities must ensure account opening within two days and provide digital payment solutions like Raast QR codes or point of sale terminals to merchants. The framework also rationalizes documentation and categorizes merchants for low-cost onboarding.
Policy & regulationRules & requirementsFinancial inclusionPayments and payment systems
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2025-07-25•Chile•Central Bank of Chile
The Central Bank of Chile extended the application deadline to 8 August 2025 for selecting a full member of the Investment Technical Council, following Claudio Raddatz Kiefer's vacancy. The appointee must be a professional with expertise in financial and capital markets and meet specific legal requirements, including restrictions on holding certain positions in financial institutions. The Central Bank will communicate relevant selection process details on its website.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-07-25•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation released a list of administrative enforcement actions from June 2025, including 17 orders and one Notice of Charges. Actions involved orders terminating consent and civil money penalty orders, civil money penalties, prohibitions, insurance terminations, and Section 19 waiver terminations. No administrative hearings are scheduled for August 2025.
EnforcementInvestigations & enforcement actions
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2025-07-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets made decisions on capital markets authorizations and consumer protection, including securities issuers register changes. Actions included share registrations for ADMINISTRAȚIA NAȚIONALĂ A DRUMURILOR and ART-NIC, and cancellations for BAZA DE TRANSPORT AUTO-12 EDINEȚ and ECA invest. The Commission addressed breaches by OK CREDIT, ordering interest recalculations and refunds, and rejected CREDIT AUTO's pre-trial request to annul a prior decision.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets is collaborating with the UNDP’s Istanbul International Center for Private Sector in Development to create an SDG-aligned Investment Map for Moldova. The initiative aims to identify investment opportunities and develop instruments like green and social bonds to attract international capital. The Commission will provide capital market expertise, supporting mechanisms for small and medium-sized enterprises.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-25•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) announced Kazana Financial Inc. paid CAD 30,000 for facilitating over CAD 6 million in trades without required registration. Kazana distributed units to 166 investors from 2021 to 2023 without registration or exemption under British Columbia’s Securities Act. The firm later registered as an exempt market dealer, admitted wrongdoing, and cooperated with the investigation, with no evidence of investor harm.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-25•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision revised its policies on options and discretions under EU banking rules to enhance supervisory harmonization. Updates include clarifications on capital requirement calculations for operational and market risks, and the Danish Compromise on risk-weighting investments in insurance subsidiaries. The revisions incorporate feedback from a public consultation and align with the CRR III-CRD VI package and recent supervisory developments.
Policy & regulationGuidance & interpretationCapital adequacyPrudential risks
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2025-07-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has directed credit institutions and foreign bank branches to implement urgent customer support measures following Typhoon No. 3 (Wipha) in Northern and North Central provinces. Institutions must review affected borrowers, restructure repayment schedules, consider interest waivers, and provide new loans. Regional branches are tasked with coordinating local efforts, advising provincial committees, and reporting unresolved issues to the State Bank.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-25•Global•Financial Stability Board
The Financial Stability Board convened its Regional Consultative Group for the Commonwealth of Independent States in Dilijan, marking a return to in-person meetings since 2021. Discussions centered on the G20 Roadmap for cross-border payments, the FSB's Global Regulatory Framework for Crypto-asset Activities, and strategies for crisis preparedness and cross-border cooperation.
Policy & regulationCooperationCross-border cooperationCross-border paymentsOther
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) held a mid-year meeting to review performance and set priorities, focusing on implementing the 'Guo Jiu Tiao' and '1+N' policy frameworks. Initiatives include strengthening market-stabilisation mechanisms, advancing STAR Market and ChiNext reforms, and enhancing enforcement against financial fraud and market manipulation. The CSRC aims to improve risk-response capabilities, promote long-term capital cultivation, and address bond default risks and illegal fund activities.
Policy & regulationReform agendas & prioritiesOther
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has approved the registration of linear low-density polyethylene, polyvinyl chloride, and polypropylene monthly average price futures on the Dalian Commodity Exchange. The exchange is required to complete preparatory work to ensure an orderly launch and stable operation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission released a draft revision of the Listed Company Governance Standards for public consultation to enhance governance by standardizing the conduct of directors, senior management, and controlling shareholders. Key proposals include a supervisory framework for directors, a remuneration system linked to performance, and stricter limits on same-industry competition. The draft aligns with existing regulations, updating requirements for shareholder rights and committee roles.
Policy & regulationRules & requirementsCorporate governance
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2025-07-25•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy and Tourism met with the Governor of the Palestine Monetary Authority to discuss enhanced cooperation on anti-money laundering, counter-terrorism financing, and financial crime prevention. The UAE highlighted its removal from the Financial Action Task Force grey list and progress on the National Economic Register. Both parties agreed to share best practices and develop training programs to address evolving financial crime patterns.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-07-25•China•China Securities Regulatory Commission
The China Securities Regulatory Commission published its 2024 departmental final accounts in a PDF document.
Data & statisticsAccounting and financial reporting
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2025-07-25•United Arab Emirates•Ministry of Economy (UAE)
The United Arab Emirates Ministry of Economy and Tourism met with the Governor of the Palestine Monetary Authority to enhance cooperation on anti-money laundering and combating the financing of terrorism. Discussions included global financial crime risks and the UAE's legislative updates aligning with international standards. The UAE also highlighted its Nomu National Economic Registry and efforts to unify beneficial ownership procedures.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-07-25•Maldives•Maldives Monetary Authority
The Maldives Monetary Authority (MMA) has partnered with NPCI International Payments Limited to integrate the Maldives National Instant Payment System, Favara, with India's Unified Payments Interface (UPI) for instant cross-border transfers. Part of MMA's three-year Strategic Plan, this initiative aims to enhance digital payment solutions and includes legislative reforms to establish Payment Maldives for strategic payment reforms. Additionally, MMA is developing a National QR code standard to support Favara adoption and facilitate low-cost digital payments.
Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
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2025-07-25•China•China Banking and Insurance Regulatory Commission
The Central Commission for Discipline Inspection and National Supervisory Commission, along with Fujian’s Quanzhou Municipal Supervisory Commission, concluded an investigation into Huang Runzhong, former Party committee member of the China Banking Association. Huang was expelled from the Communist Party, his illicit gains confiscated, and his case referred to prosecutors. The investigation revealed obstruction of oversight, acceptance of gifts, interference in personnel matters, and misuse of his position for personal gain.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-07-25•Argentina•Argentina Superintendency of Insurance
Argentina's Superintendency of Insurance issued Resolution SSN No. 382/2025, prohibiting La Nueva Cooperativa de Seguros Limitada from entering new insurance contracts and conducting administrative acts over its real estate and reinsurance relationships. The measure aims to safeguard policyholders' interests and ensure the entity meets its obligations.
SupervisionInterventionsOther
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2025-07-25•Moldova•National Bank of Moldova
The National Bank of Moldova, in collaboration with the National Bank of Romania and the Bucharest Academy of Economic Studies, has launched the fourth edition of the “School of Modern Finance” programme for students from the Academy of Economic Studies of Moldova. Running from 26 July to 3 August 2025 in Bucharest, it includes lectures, discussions, and cultural visits, with plans to expand to journalism students and economic journalists from September 2025. Participants will later conduct financial education sessions in rural areas.
Financial literacy & educationFinancial literacy and education
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2025-07-25•Moldova•National Bank of Moldova
The National Bank of Moldova has issued a new commemorative coin in the "Personalities" series, honoring Paul Gore's 150th birth anniversary. The coin, with a nominal value of MDL 50, is made of 999/1000 silver, weighs 16.5 g, and has a mintage of 250 pieces. The obverse features Moldova's coat of arms, while the reverse displays Gore's effigy and family coat of arms.
Other
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2025-07-25•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India (IRDAI) penalized Star Health and Allied Insurance Co. Ltd. INR 33.9 million for breaches of information and cyber security requirements. The enforcement action, under Section 14(1) of the IRDA Act, 1999 and Section 102 of the Insurance Act, 1938, also included a formal warning.
EnforcementSanctions & designationsCyber resilience
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2025-07-25•Barbados•Central Bank of Barbados
The Central Bank of Barbados reported a 2.5% real GDP growth for January–June 2025, driven by construction, services, trade, and tourism, with unemployment at a record low of 6.3%. Foreign investment and strong tourism boosted international reserves to 3.9 billion BBD, despite a widening current account deficit. Fiscal outcomes improved with a surplus of 372.9 million BBD, reducing the debt-to-GDP ratio to 102%, while the financial sector remained stable.
ResearchEconomic data and developments
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2025-07-24•Ghana•Ghana National Insurance Commission
The Ghana National Insurance Commission and the Youth Employment Agency signed a memorandum to train and employ 500 young people in Ghana's insurance sector, addressing youth unemployment and low insurance penetration. NIC will lead training through the Ghana Insurance College, with participants deployed to licensed insurance entities to promote insurance awareness. The initiative aims to alleviate the shortage of qualified insurance personnel and improve access to insurance services.
Policy & regulationImplementation, projects & pilotsCapacity buildingFinancial inclusion
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2025-07-24•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) hosted a roundtable on "New Trends in Pensions" with stakeholders like the Inter-American Conference on Social Security and the World Bank Group to discuss modernising social security systems. Key topics included actuarial analysis, supplementary savings, individual savings models, new work arrangements, and the potential for a guaranteed minimum pension through eligibility changes.
Policy & regulationCooperation
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2025-07-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority (CMA) has compensated investors affected by trading violations in Watani Iron Steel Co. shares using a Compensation Fund. Five individuals were ordered to pay SAR 41.4 million in illegal gains, with some compensations exceeding SAR 1 million. The fund, under Article 59 of the Capital Market Law, allows investors not included in the distribution to file claims with the Committee for Resolution of Securities Disputes.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-07-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Alpha Capital's public offering of the Alpha Capital Freestyle GCC Equity Fund, emphasizing that this approval confirms compliance with legal requirements but is not a subscription recommendation. Investors are advised to thoroughly review the fund's terms, strategy, and risk factors, and consult the fund manager for clarification on any provisions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-24•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority (BMA) is consulting on amending the Bermuda Monetary Authority Act 1969 to create a legal gateway for information sharing with the Bermuda Deposit Insurance Corporation (BDIC) and revise insurance-related fees. Proposed changes include adding BDIC to entities eligible for information disclosure, aligning the Deposit Insurance Act 2011 with statutory functions, and introducing confidentiality requirements. Fee adjustments involve increased registration and annual fees for innovative insurers and Internationally Active Insurance Groups, effective 1 January 2026.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-24•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) will transition to a single volume cap mechanism for trading under the reference price waiver in October 2025, limiting it to 7% of the total aggregated EU trading volume per instrument. Breaches will require a three-month suspension of the waiver. ESMA will use transaction reporting data from National Competent Authorities for calculations, decommissioning the double volume cap in January 2026.
Policy & regulationRules & requirementsMarket infrastructure
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2025-07-24•Belgium•Belgium Financial Services and Markets Authority
Belgium’s Financial Services and Markets Authority (FSMA) warned about fraudulent online trading platforms, highlighting fake celebrity adverts and recruitment websites. The FSMA advises avoiding offers promising quick high returns and verifying authorisations via its “Check your provider” resource. It recommends suspected victims cease transactions, inform their bank, report to the FSMA and police, and be cautious of recovery scams.
SupervisionAlertsFraud and scams
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2025-07-24•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has proposed updates to Regulatory Guide 183 on financial services industry codes of conduct, seeking stakeholder feedback. The revisions incorporate changes from the Financial Sector Reform (Hayne Royal Commission Response) Act 2020, clarify ASIC's role and approval criteria, and aim to simplify guidance. While code approval is not mandatory, ASIC approval signals consumer confidence.
Policy & regulationGuidance & interpretationOther
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2025-07-24•Australia•Australian Prudential Regulation Authority
At the Australian Banking Association Conference, APRA Chair John Lonsdale announced plans to cut banks' compliance costs while upholding prudential standards, focusing on cyber, operational, and geopolitical risks. APRA will adopt a three-tier proportionality approach, streamline internal-ratings based accreditation, and amend the bank licensing framework. The 2024 stress test confirmed banks' ability to meet obligations despite downturns and cyber incidents. Macroprudential settings remain unchanged, with discussions on riskier mortgage lending limits planned. APRA will start prudential reviews under CPS 230 and assess compliance with CPS 234.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskOperational risk and resilienceCyber resilience
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2025-07-24•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) plans to reduce compliance burdens and enhance proportionality for small and medium banks, focusing on rising risks like cyber, operational, and geopolitical threats. APRA will implement a three-tier banking proportionality framework, streamline internal ratings-based accreditation, and improve communication on capital decisions, while macroprudential settings remain unchanged. Further reviews will assess compliance with operational risk and information security standards.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskOperational risk and resilienceCyber resilience
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2025-07-24•Australia•Australian Competition and Consumer Commission
ACCC Chair Gina Cass-Gottlieb discussed the commission's expanding role in consumer protection, competition, and digital regulation at the Australian Banking Association’s Banking 2025 Conference. Topics included the National Anti-Scam Centre's progress, Digital ID growth, Consumer Data Right priorities, findings from the Digital Platform Services Inquiry on Apple and Google, and initiatives for payments resilience and cash distribution regulation.
Policy & regulationReform agendas & prioritiesConsumer and investor protectionFraud and scams
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2025-07-24•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority has issued guidelines on managing insurance claims and complaints, accessible through a public link.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-07-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Alpha Capital's public offer of the Alpha Capital Freestyle GCC Equity Fund. The authority emphasized that its approval confirms compliance with legal requirements but is not a subscription recommendation, and advised investors to thoroughly review the fund's terms and conditions due to potential high risks.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority (CMA) has compensated investors affected by violations related to Watani Iron Steel Co's shares, following a SAR 41.4 million penalty against five individuals. The compensation, facilitated through a CMA-established fund, reflects the scale of violations and investor harm, with some payments exceeding SAR 1 million. The CMA emphasizes that compensation funds complement other legal avenues and are assessed under Article 59 of the Capital Market Law based on criteria such as the feasibility of collecting illegal gains and the impact of violations.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-07-24•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) signed an agreement with the Directorate General of General Legal Administration to exchange data for licensing and supervision. This aims to enhance the Fiduciary Guarantee Law, improve beneficial ownership data for anti-money laundering and counter-terrorism financing, and support the National Strategy for Corruption Eradication by integrating and verifying legal entity profiles.
SupervisionCooperationCross-border cooperation
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2025-07-24•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) has launched the integrated Governance, Risk, and Compliance Information System (SI-GRC) to enhance governance and support regulatory functions in the financial sector. SI-GRC consolidates risk management and internal control systems into a single platform with real-time risk reporting. OJK emphasizes the need for stronger risk awareness and strategic engagement, particularly in cyber risk management.
Institutional developmentTechnology & data transformationCorporate governanceRisk management
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2025-07-24•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has expanded payment card interoperability, allowing merchants to accept American Express, Mastercard, and Visa using existing point-of-sale terminals for in-person and e-commerce transactions. This complies with Law 9831, enhancing efficiency, security, and cost-effectiveness in the payment card system. Merchants with acquiring services from specified banks and providers can now accept all three card brands without needing multiple acquiring providers.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-24•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority said the subscription for Tosyali Algeria's bond issue has closed and raised DZD 15 billion.
Data & statisticsSecurities offerings and listings
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2025-07-24•United States•National Credit Union Administration
At the National Credit Union Administration Board's fourth 2025 meeting, AI use cases and potential regulatory clarity were discussed. The Board reviewed a U.S. Government Accountability Office report suggesting updates to model risk management guidance for AI. Updates on the Office of the Ombudsman, post-exam survey results, and the Central Liquidity Facility's financial performance were also provided.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-07-24•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has banned former financial advisers Rocco D’Amelio and Robert Crossing from providing financial services for seven and six years, respectively, due to inappropriate advice and misleading statements about superannuation investments in the Shield Master Fund. The bans are recorded on ASIC’s Banned and Disqualified Register, and the broader investigation continues, including into Keystone Asset Management Ltd and other involved parties. Both advisers may seek a review of the decisions by the Administrative Review Tribunal.
EnforcementSanctions & designationsConsumer and investor protectionCorporate governance
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2025-07-24•Australia•Australian Securities & Investments Commission
The Full Court of the Federal Court dismissed ASIC's appeal in the Finder Wallet case, affirming that the crypto-asset product Finder Earn is not a debenture and did not breach the Corporations Act. ASIC acknowledged the decision highlights challenges in regulating debentures and applying financial services laws to crypto assets. It emphasized that crypto-related products might still qualify as financial products, subject to Australian financial services licensing and other legal requirements.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-07-24•United States•National Association Of Insurance Commissioners
Members of the National Association of Insurance Commissioners (NAIC) visited wildfire-impacted areas in California to assess damage and gather insights from disaster response teams. This visit supports the NAIC National Climate Resilience Strategy for Insurance, aimed at improving risk reduction, data gathering, and consumer resilience against natural disasters.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-24•Lithuania•Bank of Lithuania
The Bank of Lithuania clarified that EstateGuru Lietuva, UAB is not authorised to provide crowdfunding services in Lithuania and is not supervised by the Bank. EstateGuru Lietuva was removed from the public list of crowdfunding platform operators and lacks a licence under Regulation (EU) 2020/1503. Only firms licensed by the Bank of Lithuania or another Member State authority can provide such services in Lithuania.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-24•Laos•Bank of the Lao
Deputy Governor Sulisack Thammavong of the Bank of the Lao addressed the 2025 China-ASEAN Financial Conference, emphasizing cross-border payment services and regional financial cooperation. He highlighted integrating local currencies for trade settlements and using technology and AI to enhance financial services, fraud detection, and cybersecurity. The delegation also visited the China-ASEAN Artificial Intelligence Collaborative Innovation Center and toured Guangxi Beibu Gulf International Port Group operations.
Policy & regulationCooperationOther
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2025-07-24•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) fined Jean-Noel Alba, former deputy CEO of H2O AM LLP, £1,049,500 and banned him from the financial services industry for misleading the FCA during its investigation into H2O. Alba provided false statements and documentation. This action is part of the FCA's broader investigation into H2O's failure to conduct proper due diligence on high-risk investments linked to the Tennor Group, resulting in a EUR 250 million compensation agreement for affected investors.
EnforcementInvestigations & enforcement actions
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2025-07-24•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation released near-final examples to enhance disclosure of uncertainties in financial statements under IFRS Accounting Standards, using climate-related scenarios. Developed by the International Accounting Standards Board, these examples address stakeholder concerns about insufficient and inconsistent information. Coordination with the International Sustainability Standards Board ensures alignment with sustainability-related disclosure requirements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-24•Austria•Austria Financial Market Authority
The Austria Financial Market Authority's annual study on state-sponsored retirement provision (PZV) reveals continued contraction in 2024, with contracts dropping to 782,000 from over 1.6 million in 2012. New contracts rose slightly to 8,077 but failed to offset expiries, while annual premium inflows decreased by 4.8% to EUR 637 million. The market remains concentrated, with only four insurers offering new contracts and one group receiving over half of the premium volume.
ResearchOther
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2025-07-24•France•Bank of France
The Bank of France's National Payments Committee 2024 report highlights that access to cash in metropolitan France remains high, with over 99% of the population having access within a 15-minute drive. Despite a 3.5% decline in ATMs to 42,578, retailer-based cash distribution points increased by 3.9% to 28,479. The Ministry of the Economy and the Bank of France are committed to maintaining cash accessibility amid declining cash usage.
Data & statisticsCurrency and cash management
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2025-07-24•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites and internet banking login screens targeting OCBC Bank (Hong Kong) Limited. It emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency has eased requirements for foreign banks to open subsidiaries and branches, lowering the minimum consolidated assets threshold from USD 20 billion to USD 10 billion and streamlining documentation. Effective 1 July 2025, the amendments expand permissible activities for foreign bank branches, including foreign exchange operations and custodial services. Enhanced "impeccable business reputation" requirements will take effect from 31 August 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-24•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has extended the deadline for responses to its consultation on the Financial Services (Miscellaneous Provisions) Bill by three weeks. The draft Bill proposes revisions to the Collective Investment Schemes Act 2008, the Designated Businesses (Registration and Oversight) Act 2015, the Financial Services Act 2008, and the Insurance Act 2008.
Policy & regulationRules & requirementsAML and CFTRegulatory burden
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2025-07-24•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye has updated the minimum appraisal fee schedules for insurance experts, indexed to the consumer price index change for the first half of 2025. The revised tariffs, effective July 2025, detail tiered fees for motor vehicle and non-motor insurance, with specific rates for different vehicle types and assessment services.
Policy & regulationRules & requirementsOther
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2025-07-24•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) held its second "OIC: Be Smart First Jobber" event at Prince of Songkla University to boost insurance awareness and career opportunities for students. The event included discussions with industry leaders, a mini job fair, and highlighted the insurance sector's economic impact, with investment assets exceeding THB 4.5 trillion. This initiative aligns with OIC's efforts to strengthen financial resilience and broaden insurance access as part of its development plans.
Financial literacy & educationOther
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2025-07-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan announced that Chairman Firdavs Nazrimat Tolibzoda met with First Deputy Prime Minister Hokim Holiqzoda and IMF Resident Representative Ghazi Shbaykat to discuss cooperation under IMF-supported reform programmes, including the Policy Coordination Instrument (PCI). The meeting emphasized the need for a permanent IMF representative for ongoing dialogue and timely policy decisions, highlighting the PCI's role in structural reforms and fiscal transparency. Tajikistan has completed two PCI review stages and plans to continue reforms in investment climate, economic digitisation, financial inclusion, and sustainable energy.
Policy & regulationCooperationOther
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2025-07-24•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network (SBFN) released a white paper, “Leaving No One Behind: Unlocking Finance in Emerging Markets,” outlining approaches to inclusive sustainable finance to bolster resilience in emerging markets. The paper estimates a need for USD 2.5 trillion to achieve climate adaptation and resilience goals, emphasizing practices that expand access to capital for vulnerable populations. It identifies five building blocks and provides policy examples from SBFN members and industry bodies, recommending steps to enhance inclusivity.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-24•South Africa•South African Reserve Bank
The South African Reserve Bank concluded its investigation into Steinhoff International Holdings N.V., now the Ibex Group, with a settlement over alleged violations of the Exchange Control Regulations, 1961. The agreement includes a forfeiture of approximately ZAR6.3 billion plus interest to the State and permits the group's structured winding-down process. The Ibex Group withdrew its legal challenge, and SARB agreed not to pursue further enforcement actions, abandoning all related litigation and judgments.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-07-24•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam (BDCB) updated its Alert List, adding entities like Fast Privacy Online Loan BN and Online Loan Jaya Trusted BN, which may be wrongly perceived as licensed. The central bank advises engaging only with licensed financial institutions and warns against unlicensed services, emphasizing these entities lack BDCB's regulatory protections. BDCB will continue monitoring and encourages reporting suspicious financial activities.
SupervisionAlertsSanctions list update
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2025-07-24•Morocco•Central Bank of Morocco
The Central Bank of Morocco's 2024 banking supervision report highlights a 50 basis point policy rate cut to 2.50%, 4.6% growth in bank credit, and 9.2% growth in customer deposits. Key supervisory priorities include climate risk management, digital payment reforms, and enhanced cyber-risk oversight. The report also notes reforms in bank crisis management, emergency liquidity mechanisms, and draft laws on non-performing loans and crypto-assets.
SupervisionOtherClimate risk and sustainable finance
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2025-07-24•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles has extended the timeline for phasing out local currency cheques for businesses, with banks stopping cheque book issuance from 1 September 2026 and acceptance ending by 1 January 2027. This decision, approved by the Cabinet of Ministers, follows consultations with stakeholders addressing business concerns. A dedicated team will oversee the transition, promoting digital payment alternatives and engaging with affected sectors.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-24•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore has proposed amendments to MAS Notice FHC-N133, focusing on the valuation and capital framework for designated financial holding companies that are licensed insurers. The changes aim to update the group capital framework under existing requirements.
Policy & regulationRules & requirementsCapital adequacy
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2025-07-24•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore released consultation paper P012-2025 outlining a proposed method for calculating the general insurance catastrophe risk requirement. The consultation period has concluded.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-24•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission requires individuals listed in an attached notice to pay a VND 1,000,000 fee for securities practising certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer to Vietinbank or Vietcombank or directly at the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-07-24•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission issued an alert warning of forged documents falsely attributed to the Ministry of Finance and the Commission, used by scammers to impersonate state bodies. Investors are advised to verify information and licences before engaging in transactions and report suspected fraud to the police.
SupervisionAlertsFraud and scams
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2025-07-24•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission updated the Russia sanctions notice for LITASCO MIDDLE EAST DMCC on the UK list, maintaining its designation under the Russia Sanctions EU Exit Regulations 2019. The entity remains subject to an asset freeze, director disqualification, transport sanctions, and trust services sanctions in the Bailiwick. Businesses must freeze assets linked to designated persons and report to the States of Guernsey Policy and Resources Committee, complying with the Sanctions Bailiwick of Guernsey Law 2018.
EnforcementSanctions & designationsNew sanctions designations