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2025-07-24•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission (GFSC) issued a sanctions notice on the UK's Global Irregular Migration and Trafficking in Persons (Sanctions) Regulations 2025, designating individuals and entities. Bailiwick legislation is expected soon. Businesses must check for relationships with designated persons and report to the States of Guernsey Policy & Resources Committee. Breaching UK immigration legislation is an offence in the Bailiwick, and firms must notify the GFSC and report under Handbook Rule 12.37 if affected relationships are identified.
SupervisionRegulatory reportingNew sanctions designations
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2025-07-24•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice updating the listing details for the ship VICTOR KONETSKY under the Russia (Sanctions) (EU Exit) Regulations 2019. Businesses must verify connections to the vessel, report findings to the States of Guernsey Policy & Resources Committee, and comply with section 14 reporting obligations under the Sanctions Law. Affected firms must also notify the Commission and submit a Handbook Rule 12.37 report after statutory reporting.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-24•Canada•Ontario Securities Commission
The Ontario Securities Commission's 2025 annual report for the Registration, Inspections and Examinations Division details key developments in registration, compliance reviews, and supervisory initiatives. It highlights a survey of the sales environment at bank-owned mutual fund dealers, a second phase of Client Focused Reforms sweeps, and a review of digital engagement practices. The report also notes significant settlement agreements and ongoing supervision of market participants in Ontario.
SupervisionOtherSupervision process and methodologies
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2025-07-24•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network released a white paper proposing a common definition of "inclusive sustainable finance" and highlighting a USD 2.5 trillion financing need for emerging markets to meet climate goals. The paper outlines five key building blocks and provides policy examples from various members, developed by the SBFN Inclusive Sustainable Finance Task Force.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-24•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced that WOT Global Solutions Ltd has voluntarily withdrawn its application for a Virtual Asset Service Providers licence under the Virtual Asset Service Providers Act, 2024, effective 15 April 2025. The firm has been instructed to cease any virtual asset-related services in or from Seychelles.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-24•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued Memorandum Circular No. 9, Series of 2025, to streamline the 45-day registration statement review process and offer a 30% discount on registration fees until 31 December 2025. The guidelines apply to various securities registrations, excluding agri-business corporations and hospitals, which have a 28-day processing period. The process includes timelines for fee payments, clearance requests, and responses to the Markets and Securities Regulation Department's comments.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-24•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency issued an alert regarding an investment scam involving fraudulent letters mimicking Hanfa, the European Central Bank, and FINRA. These letters use forged logos and signatures to demand payments for releasing funds, falsely claiming they are on hold. Hanfa advises investors to verify intermediaries through its public registers and report any suspicious activity to authorities.
SupervisionAlertsFraud and scams
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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," on inclusive sustainable finance for climate adaptation. It highlights a USD 2.5 trillion financing need for emerging markets and proposes a definition to improve capital access for vulnerable populations. The paper identifies five key building blocks, provides policy examples from SBFN members, and offers recommendations for further action.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-24•Uganda•Uganda Insurance Regulatory Authority
The Insurance Regulatory Authority of Uganda has issued 2025 directives for Deposit Administration Plans and Guaranteed Investment Funds, setting standards for life insurers. These require appointing a custodian licensed by the Bank of Uganda and professional advisers, including an accredited external auditor. The directives mandate segregated funds, separate accounts, and adherence to solvency calculations, with provisions for guaranteed interest rates in GIFs.
Policy & regulationRules & requirementsPrudential risks
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2025-07-24•United Kingdom•Bank of England
The Bank of England’s Prudential Regulation Authority (PRA) has finalized reforms to the UK Insurance Special Purpose Vehicle (UK ISPV) framework, introducing an accelerated application pathway for certain ISPVs, including catastrophe bonds, with approvals possible within 10 working days. The reforms streamline application processes, expand market practices, and clarify expectations for UK insurers ceding risks to ISPVs. The PRA is considering legislative changes proposed by HM Treasury to further develop the UK insurance-linked securities market and encourages industry engagement.
Policy & regulationRules & requirementsMarket development
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2025-07-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs will hold a legislative markup to consider the ROAD to Housing Act of 2025, a bipartisan package aimed at boosting housing supply and affordability, and enhancing oversight of federal housing regulators. The proposal includes measures to remove regulatory barriers, promote innovative construction, expand homeownership, and improve accountability and efficiency in housing programs. This is the committee's first bipartisan housing markup in over a decade.
Policy & regulationRules & requirementsOther
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2025-07-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs introduced the Community Investment and Prosperity Act to raise the cap on banks' "public welfare" investments from 15% to 20% of capital and surplus. This increase, the first since 2006, aims to boost private capital for affordable housing and community development projects. The bill has received endorsements from KeyBank, the Bank Policy Institute, and other industry groups.
Policy & regulationRules & requirementsSME financingFinancial inclusion
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2025-07-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs issued a statement on Chairman Tim Scott's visit with President Trump, White House officials, and Federal Reserve Chair Jerome Powell to review the Federal Reserve's renovation project and discuss cost overruns. Scott expressed concerns over the Federal Reserve's spending on lavish renovation features and called for increased transparency. The statement also detailed prior oversight actions, including letters and briefings questioning the expenses.
Policy & regulationOther
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2025-07-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs will hold an executive-session markup of the bipartisan ROAD to Housing Act of 2025, focusing on boosting housing supply, affordability, and enhancing oversight of federal regulators. The package includes measures to remove regulatory barriers, promote innovative construction, and support communities recovering from natural disasters, while addressing homeownership access, affordability, and homelessness.
Policy & regulationReform agendas & prioritiesOther
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2025-07-24•Malta•Central Bank of Malta
The Central Bank of Malta's latest business dialogue results show positive but sectorally varied business conditions in Q2 2025, with a 22% net share of respondents reporting activity expansion. Service-oriented firms led in expansion, while wholesale and retail faced negative conditions. Firms are optimistic about the near-term outlook, with a net 33% expecting improvement, slightly down from the previous quarter.
Data & statisticsEconomic data and developments
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2025-07-24•Namibia•Bank of Namibia
The Bank of Namibia has launched an upgraded series of Namibia dollar banknotes and a redesigned coinage series, maintaining existing denominations. The update aims to modernize the currency with enhanced security features to prevent counterfeiting and reinforce public trust.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-07-24•Europe•European Payments Council
The European Payments Council (EPC) issued guidance for SEPA Request-to-Pay (SRTP) scheme applicants, advising preliminary testing of SRTP rulebook implementation and API messages using an SRTP API Test Toolbox. Two SRTP Referenced Technical Solution Providers offer these toolboxes, which cover all scheme options and functionalities to aid applicants in validating their SRTP API implementation before homologation or production deployment.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-07-24•Tanzania•Bank of Tanzania
The Bank of Tanzania, with the National Bureau of Statistics and the Tanzania Investment and Special Economic Zones Authority, is surveying companies with foreign liabilities to assess foreign private investment's impact on the domestic economy and update financial statistics. The 2024 survey requires selected companies to submit financial statements and questionnaires, with compliance mandated by law. Data will be used for statistical purposes and published in aggregated form to ensure confidentiality.
Data & statisticsBalance of payments and other external statistics
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2025-07-24•Russia•Central Bank of Russia
The Central Bank of Russia reported a significant increase in the use of the Faster Payments System (SBP) for retail purchases, with over 2.5 million companies enabling SBP payments by the end of Q2 2025. The SBP processed 4.6 billion transactions worth RUB 24.8 trillion during this period, with nearly a third related to goods and services payments. Small businesses are the most active users, and payments to individuals from insurers and brokers rose 1.5 times in number and 1.4 times in value.
Data & statisticsPayments and payment systems
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2025-07-24•Russia•Central Bank of Russia
The Central Bank of Russia issued recommendations for credit and non-bank financial institutions on presenting information about complex financial products online, accessible only to qualified investors. These measures aim to prevent non-qualified investors from purchasing high-risk products. The bank reiterated the legal prohibition on offering certain complex products to non-qualified investors.
Policy & regulationGuidance & interpretationDisclosures
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2025-07-24•Canada•Payments Canada
Payments Canada's 2025 Q3 update on the Real-Time Rail (RTR) shows the technical build is nearly complete and will soon enter comprehensive testing. This includes real-time clearing and settlement, exchange replatforming, and centralized fraud services, with extensive testing for operational readiness and security. Concurrently, work on the RTR by-law and rules continues, with expected regulatory changes to expand participation eligibility under the Canadian Payments Act and Retail Payments Activities Act.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-24•Canada•Canadian Securities Administrators
The Canadian Securities Administrators issued blanket orders granting exemptive relief for eligible investment funds to participate in the Bank of Canada’s Contingent Term Repo Facility (CTRF). The CTRF provides Canadian-dollar funding for up to 30 days against government securities to address severe market-wide liquidity stress. This relief removes restrictions on funds exposed to Canadian-dollar money market and fixed income securities, enabling their use of the CTRF as a liquidity risk management tool.
Policy & regulationRules & requirements
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2025-07-24•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) resolved its case against Qian Bai, Chao Li, Lan Bai, Aipu Limited, and Fidefx Investments Ltd for operating fraudulent websites and misappropriating over USD 3.6 million. The U.S. District Court for the Western District of Washington imposed civil monetary penalties and restitution totaling over USD 19 million, along with permanent trading and registration bans. The CFTC noted that restitution may not be recovered if the defendants lack sufficient assets.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced personnel changes at Vietnam Deposit Insurance, reappointing Pham Bao Lam as Chair and Vu Van Long as Deputy CEO. Do Thi Hang and Tran Thanh Nga were appointed as Controllers. Deputy Governor Nguyen Ngoc Canh emphasized completing 2025 tasks, including finalizing the deposit insurance legal framework and preparing amendments to the Deposit Insurance Law.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-24•Canada•Alberta Securities Commission
The Alberta Securities Commission panel issued a decision detailing its November 2024 order regarding Greenfire Resources Ltd. securities. The order approved Waterous Energy Fund Management Corp.'s application to cease trade Greenfire’s shareholder rights plan and rejected Greenfire’s attempt to block share transfers under existing agreements.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-07-24•Canada•Alberta Securities Commission
The Alberta Securities Commission (ASC) panel issued a decision on its November 2024 order regarding Greenfire Resources Ltd., ceasing trading of its Shareholder Rights Plan and rejecting Greenfire's request to halt share transfers under purchase agreements. This followed Waterous Energy Fund Management Corp.'s agreements to purchase Greenfire shares, leading to conflicting applications to cease trade the rights plan and share transfers. The ASC granted Waterous's application and dismissed Greenfire's.
SupervisionInterventionsSecurities offerings and listings
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2025-07-24•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy reported 1,063 anti-money laundering compliance violations in the first half of 2025, resulting in fines exceeding AED 42 million for non-compliant businesses. Precious metals and gemstones traders and real estate brokerages were most penalized, with fines of AED 20 million and AED 18.5 million, respectively. The ministry emphasized due diligence, risk assessment, and suspicious transaction reporting for compliance improvements.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-07-24•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced the first placement of a financial trust under the new medium-impact automatic authorisation regime. General Resolution No. 1051 established two automatic public offering regimes for financial trusts, with issuance caps of up to UVAs 1,000,000 and UVAs 7,000,000. These regimes streamline the process by waiving certain requirements, allowing issuers to offer securities without CNV review, while maintaining CNV's oversight.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-24•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde released its 2024 conduct supervision report, detailing oversight of financial product marketing and financial literacy initiatives. The central bank addressed 245 consumer complaints, leading to CVE 3,267,665 in customer reimbursements, and conducted five bank inspections. Financial literacy efforts reached 1,426 participants, emphasizing risks from digital financial services.
SupervisionReviews, inspections & stress testsConsumer and investor protectionComplaints and dispute resolution
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2025-07-24•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration held a symposium to discuss proposals from the 2025 National People’s Congress and Chinese People’s Political Consultative Conference, focusing on enhancing health insurance development. Topics included optimising policy environments, standardising city customised commercial medical insurance, and improving data sharing between basic and commercial medical insurance. The Administration plans to consolidate feedback and collaborate with departments to refine regulatory mechanisms and supervisory measures.
Policy & regulationReform agendas & prioritiesOther
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2025-07-24•China•China Banking and Insurance Regulatory Commission
Deputy Director Xiao Yuanqi of the China Banking and Insurance Regulatory Commission participated in the Executive Meeting of East Asia and Pacific Central Banks' fourteenth informal meeting. The online event focused on best practices for safe and inclusive digital finance.
Policy & regulationCooperationCross-border cooperation
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2025-07-24•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance issued Resolution SSN No. 371/2025, disqualifying "Ruta Productores y Asesores de Seguros" and "Ruta Seguros Generales" from operating under Article 8(g) of Law No. 22.400. This enforcement action prohibits them from lawfully intermediating insurance contract conclusions.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-07-24•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance has disqualified Mario Jorge Croce, a certified public accountant and external auditor, for three years under Article 59(d) of Law No. 20,091.
EnforcementSanctions & designationsAuditing
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2025-07-24•Argentina•Argentina Superintendency of Insurance
Argentina's Superintendency of Insurance issued Resolutions SSN 366/2025, 367/2025, and 368/2025, prohibiting Gonzalo Martín Campici, Mauricio Ariel Campici, and Carlos Martín Lufrano from serving in administrative, oversight, or senior management roles in insurance and reinsurance entities.
EnforcementSanctions & designationsOther
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2025-07-24•India•Securities & Exchange Board of India
The Securities and Exchange Board of India, in collaboration with Market Infrastructure Institutions and the Association of Mutual Funds in India, has launched the "SEBI vs SCAM" campaign to enhance investor protection and combat fraud in the securities market. The initiative educates investors on scam typologies, red flags, and verification protocols, while promoting trusted redressal mechanisms and good digital practices.
Financial literacy & educationFraud and scamsConsumer and investor protection
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2025-07-24•South Korea•Bank of Korea
The Bank of Korea released its advance estimate for Q2 2025, showing a 0.6% quarterly and 0.5% annual increase in real GDP. Real gross domestic income rose by 1.3% quarter on quarter and 1.4% year on year. GDP is measured on a chained volume basis.
Data & statisticsEconomic data and developments
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2025-07-24•South Korea•Bank of Korea
The Bank of Korea published its July 2025 Business Survey Index and Economic Sentiment Index, with detailed results available in an attachment.
Data & statisticsEconomic data and developments
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2025-07-24•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama released its Banking Activity Report for Panama’s International Banking Center, noting year-on-year growth in deposits, assets, and net credit through June 2025, driven by external business. Liquidity and capital indicators remain above regulatory thresholds, with supervision focusing on macrofinancial conditions and financial performance. The report highlights priorities in operational efficiency, funding structure, income diversification, asset quality, and prudential standards.
SupervisionSupervision approach, priorities & toolkitLiquidity riskCapital adequacyAsset quality
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2025-07-24•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released a follow-up report on its 2022 Peer Review on Outsourcing under Solvency II, evaluating 77 supervisory actions by National Competent Authorities (NCAs) in the European Economic Area. The report found 51 actions fulfilled, 22 partially fulfilled, and four not fulfilled, noting improvements in regulatory tools, internal procedures, and information systems, but identifying gaps in off-site supervision and operationalisation of tools. EIOPA will continue monitoring and may provide targeted guidance or facilitate best practice exchanges.
SupervisionPeer reviews and country evaluationsOutsourcing and third-party risk management
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2025-07-24•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority's 2024 report highlights priorities in digital assets, international standards alignment, and financial crime prevention. Key developments include a regulatory framework for fiat-referenced tokens, Basel Committee standards alignment, and an ADGM-wide whistleblowing framework. The report notes the UAE's removal from the Financial Action Task Force grey list and a 30% increase in FSRA-licensed firms to 272.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologiesRegulatory reporting
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2025-07-24•United Arab Emirates•Central Bank of the UAE
The Central Bank of the United Arab Emirates (CBUAE) and Mercury have launched Unitey Business Services, a joint venture to bolster the CBUAE’s Financial Infrastructure Transformation (FIT) programme. This public-private partnership aims to enhance efficiency, resiliency, and business continuity in the UAE's financial market infrastructure, leveraging Mercury's payments technology to advance digital transformation and financial inclusion.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-07-23•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo met with Bajram Fusha from the Slovenian Chamber of Businesses in Kosovo to discuss financial sector developments and stability. Key topics included Kosovo's SEPA membership, the TIPS Clone fast payments system, and regulatory frameworks for alternative financing. Both parties emphasized ongoing cooperation to enhance the investment climate and promote economic ties with Slovenian investors.
Policy & regulationCooperationCross-border cooperation
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2025-07-23•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama approved Agreement 5-2025, updating Articles 199 and 208 of the Banking Law to expand "banking consumer" definitions and raise monetary thresholds for consumer protections. Revised caps include PAB 68,000 for personal or family loans, PAB 169,000 for primary residence loans, PAB 27,000 for demand deposits, and PAB 68,000 for savings or fixed-term deposits. The update also adjusts the complaint resolution limit, reflecting a 35% consumer price index increase since 2008.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Dinar Investment Company's public offering of the Dinar US Equity Fund. The CMA emphasized that the approval is not a subscription recommendation and urged investors to thoroughly review the fund's terms, strategy, and risks, consulting the fund manager for clarity if needed.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-23•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority issued an opinion clarifying the definition of insurance distribution concerning websites offering insurance product comparison tools. It outlines criteria for assessing these activities and emphasizes consumer due diligence, advising users to verify the identity and nature of the comparison website before sharing personal data.
Policy & regulationGuidance & interpretationSales and distribution
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2025-07-23•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of KTESIOS – Consultoria e Avaliação Imobiliária, Lda. as a corporate entity for real estate appraisal expertise.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-23•Global•Financial Markets Standards Board
The Financial Markets Standards Board has released a transparency draft Statement of Good Practice on Unauthorised Trading Frameworks for industry consultation, aiming to enhance oversight and controls and standardize expectations among firms and regulators. The consultation, addressing risks and uneven standards in unauthorised trading, is open for comments until 15 September 2025.
Policy & regulationGuidance & interpretationRisk management
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2025-07-23•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) has authorized a delisting tender offer for Minor Hotels Europe & Americas, S.A. by MGH Continental Holding (Singapore) PTE. LTD. The offer targets 4.13% of shares, with 95.87% immobilized until completion, priced at EUR 6.51 per share. Supported by a valuation from Ernst & Young and bank guarantees from Bangkok Bank, the shares will be delisted upon settlement, with a potential squeeze-out if conditions are met.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-23•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has formed a new governance committee for the Credit Derivatives Determinations Committees (DCs) to oversee operations and manage rule changes, separate from credit event determinations. The committee, with representatives from 18 CDS-active firms, will propose and vote on DC rule changes, subject to a 30-day market consultation, while ISDA collaborates on further governance enhancements.
Policy & regulationRules & requirementsCorporate governance
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2025-07-23•Europe•European Banking Authority
The European Banking Authority (EBA) published a report on the direct provision of core banking services from third countries under Article 21c of the Capital Requirements Directive, finding no evidence to amend the article but recommending further clarification on its interaction with other sectoral legislation. The report highlights the regime's flexibility, including reverse solicitation and exemptions for interbank transactions, while noting the need for clarity on its interaction with UCITS and AIFMD. The EBA suggests using its Q&A tool for guidance.
Policy & regulationGuidance & interpretationCross-border payments
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2025-07-23•Malaysia•Ministry of Finance (Malaysia)
The Ministry of Finance (Malaysia) proposed the Consumer Credit Bill to regulate consumer credit businesses, including digital services like instant loans and buy now pay later. It aims to address risks such as excessive charges and financial fraud by mandating fair treatment, transparency, and professional debt management guidelines. A new Consumer Credit Commission will oversee previously unregulated providers, consolidating regulatory functions across ministries.
Policy & regulationRules & requirementsConsumer and investor protectionBNPL
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2025-07-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned Matthew Allen Beresford from financial services and credit activities. Beresford used a false identity and fraudulent bank accounts to illegally offer financial advice, falsely claiming to hold an Australian Financial Services licence. Investors deposited approximately AUD 374,000 into accounts he opened. Following criminal charges by Victoria Police, Beresford pleaded guilty to false document and proceeds of crime offences, receiving an 85-day prison sentence and a 30-month Community Corrections order.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityFraud and scams
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2025-07-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) supports customer-centric AI in banking but warns against harmful AI use. Chair Joe Longo noted existing laws like the Corporations Act apply to AI, and specific AI regulations may add complexity. ASIC's review found gaps in consumer risk assessment and governance in financial services using AI. A follow-up on the Better Banking for Indigenous Consumers initiative will address fee harm to low-income customers.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-07-23•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority is hosting the 2025 Annual East Africa Insurance Regulators and ZEP-RE Strategic Forum in Zanzibar, focusing on strengthening insurance regulation and promoting inclusive markets. Discussions center on using insurance frameworks to bolster government resilience to climate-related shocks. The forum aims to advance regional regulatory harmonisation and climate risk insurance solutions.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-23•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued an official interpretation of "transactions with CII assets" to clarify legal uncertainties for asset management companies and collective investment institutions. It includes both profitable and loss-making transactions, provided they comply with the investment declaration, are economically feasible, and properly documented. The resolution is effective immediately upon publication on the Commission's website.
Policy & regulationGuidance & interpretationOther
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2025-07-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Dinar Investment Company's public offer of the Dinar US Equity Fund, confirming compliance with the Capital Market Law and Implementing Regulations. The CMA clarified that this approval is not a subscription recommendation and advised investors to review the fund's terms, strategy, and risks thoroughly.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-23•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group (EFRAG) launched the "EFRAG 2025 State of Play" portal and report, revealing limited materiality coverage in early implementation of the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive. Only 10% of companies identified all 10 topical standards as material, with Climate Change, Own Workforce, and Business Conduct most disclosed. The study will guide EFRAG's work on ESRS simplification as mandated by the European Commission.
ResearchESG
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2025-07-23•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan, in collaboration with the International Finance Corporation, has launched the ESG Pakistan Project to align the corporate sector with international ESG standards. The initiative includes workshops, guidance materials, and impact assessments using SECP's ESG Sustain platform. Implementation is supported by the Facility for Investment Climate Advisory Services and funding from the CIFPAK facility.
Policy & regulationImplementation, projects & pilotsESG
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2025-07-23•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has granted an Investment Finance Services licence to Alif Finance (Private) Limited, allowing it to operate as a Non-Banking Finance Company. Alif Finance, a subsidiary of Alif Capital Holdings, focuses on Shariah-compliant digital and conventional lending in Pakistan. This approval aligns with SECP's strategy to attract reputable foreign investment and enhance the NBFC sector's diversity.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-23•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority said the financial market one stop shop met to examine the application for the market introduction of innovative startup Diar Dzair.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-23•Indonesia•Bank Indonesia
Bank of Indonesia's Q2 2025 Banking Survey indicates an increase in new loan disbursements, with a Weighted Net Balance (WNB) of 85.22%, driven by working capital and investment loans. Lending standards were more cautious, with a Lending Standards Index (LSI) of 0.08, affecting credit lines and collateral requirements. Respondents anticipate continued credit growth in Q3 2025, supported by a favorable economic outlook and mitigated lending risks.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-23•China•Central Bank of the Republic of China
The People's Bank of China reported Deputy Governor Zou Lan attended the 30th EMEAP Governors' Meeting, urging enhanced cooperation among member central banks for regional financial stability. The meeting addressed global and regional economic conditions, geo-economic fragmentation, inflation dynamics, and monetary policy frameworks. Zou also presented China's economic and financial conditions and macroeconomic policies.
Monetary policyMonetary policy assessments & outlooksCross-border cooperation
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2025-07-23•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's quarterly Bank Lending Survey shows optimism among banks for growth in corporate and retail lending, with expectations of improved loan quality for the first time in a year. Demand for corporate loans rose in Q2, driven by long-term borrowing and lending to large enterprises, while household demand increased for mortgages and consumer loans. Lending standards were relaxed, approval rates increased, and mortgage collateral requirements eased, though credit and operational risks rose, with no growth in foreign exchange risk reported for the first time in two years.
Data & statisticsLendingAsset quality
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2025-07-23•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance amended the law on fee comparability, payment account switching, and access to a basic account, requiring credit institutions to offer a fee-free package of specified services for accounts receiving regular income. From 1 January 2026, this includes account maintenance, internet or mobile banking, and cash withdrawals, with additional provisions for vulnerable groups. By 1 January 2027, institutions must allow two fee-free monthly cash withdrawals at other institutions' ATMs for these accounts.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-23•Portugal•Bank of Portugal
The Bank of Portugal reported a EUR 7.9 billion increase in non-financial sector indebtedness in May 2025, reaching EUR 839.1 billion. Household indebtedness rose 6.1% year on year, marking the highest annual rate since December 2008. Public sector debt increased by EUR 4.4 billion, primarily due to external financing, while private sector debt rose by EUR 3.5 billion, driven by private corporations and mortgage lending.
Data & statisticsBalance of payments and other external statistics
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2025-07-23•Germany•BaFin
Germany’s Federal Financial Supervisory Authority (BaFin) has initiated a public consultation on a draft ordinance to amend the Audit Report Regulation (PrüfV). The amendments aim to clarify statutory auditors' reporting duties related to the EU Disclosure Regulation, EU Taxonomy Regulation, and Digital Operational Resilience Act (DORA), introducing new Sections 40a and 40b to the PrüfV. These changes apply to audit reports for financial years starting after 31 December 2024.
Policy & regulationRules & requirementsDisclosures
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2025-07-23•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DSP-155, detailing tariffs for low-value payment systems managed by Banco de la República.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-23•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance outlined Deputy Minister Giorgos Kotsiras's speech on the draft National Customs Code, emphasizing digitization, stricter penalties, and EU alignment. The speech linked EUR 2 billion in revenue to digital processes and called for measures against tax evasion and smuggling. It also addressed bank fee amendments, integrating the Financial and Economic Crime Unit into the Independent Authority for Public Revenue, and specific tax and legal provisions.
Policy & regulationRules & requirementsOther
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2025-07-23•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance proposed amending the draft National Customs Code bill to regulate ATM withdrawal and payment service fees. The amendment mandates free withdrawals from banks' own ATMs, eliminates fees in areas with a single ATM, and caps third-party ATM fees at EUR 1.50 per transaction. It also introduces zero-fee rules for specific transactions and caps credit transfer fees at EUR 0.50 for amounts up to EUR 5,000 per day.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-23•Laos•Bank of the Lao
The Bank of the Lao PDR and the Bank of Korea signed a bilateral cooperation agreement and launched the BOK-KPP 2025 programme with a technical seminar focused on financial skills development to support economic stability in the Lao PDR. The seminar, co-chaired by officials from both banks, addressed economic and financial development, financial literacy, and strategic planning for financial education.
Policy & regulationCooperationOther
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2025-07-23•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) announced the distribution of approximately HKD 19 million to affected clients of Hong Kong Wan Kiu Investment Company Limited (HKWK) by court-appointed administrators, following a court-approved restoration order. This follows an SFC investigation revealing unauthorized sales and misappropriation of client securities by HKWK and its director, Connie Sham Khi Rose, who pleaded guilty to misappropriating HKD 58 million and received a community service sentence. HKWK's licence for dealing in securities was revoked in March 2024 after prior restrictions and asset freezes.
EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
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2025-07-23•Afghanistan•Central Bank of Afghanistan
The Central Bank of Afghanistan (Da Afghanistan Bank) reported on its 1446 AH achievements, highlighting a 0.79% appreciation of the Afghani against the US dollar, growth in banking sector assets, profits and capital, and a AFN 7.9 billion increase in public bank deposits. It outlined measures to expand banking access and digital financial services, including new regulatory frameworks, licences for microfinance, electronic money and payment institutions, 62 new branches and mini-branches, branchless banking licences, and expanded Islamic finance with a 71% year-on-year increase in Islamic financing.
OtherCapacity building
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2025-07-23•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, internet banking login screens, a suspicious mobile app, and phishing messages linked to The Hongkong and Shanghai Banking Corporation Limited and Banque Pictet & Cie SA. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-07-23•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that ARGUS MANAGEMENT LTD has initiated the dissolution and liquidation of ORES NOVUS RAIF V.C.I.C. LTD. The fund will remain listed in the RAIFs Registry with an "under liquidation" notice until the process is complete. CySEC will remove the fund from the register upon completion and submission of all required documents.
SupervisionAuthorisations & approvalsOther
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2025-07-23•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency and National Bank signed a trilateral memorandum with China's National Financial Regulatory Administration to enhance banking regulation cooperation. The agreement aims to prevent unlawful activities, reinforce bank stability, and protect consumers, aligning with Basel Committee recommendations. Kazakhstan hosts three banks with Chinese participation, holding assets of KZT 2.1 billion, 3.3% of the banking system's total assets.
Policy & regulationCooperationCross-border cooperation
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2025-07-23•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has issued a sanctions update highlighting new information on the Isle of Man’s Cyber and Russia financial sanctions regimes from the Isle of Man Treasury, Customs and Immigration Division. Regulated firms are directed to the Isle of Man Government news releases and the Treasury Division’s Sanctions and Export Control webpage for details.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-23•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston published an interview with Sushil Tuli, CEO of Leader Bank and a Class A director on the Boston Fed’s Board, discussing the bank's founding amid community bank consolidation and its ethical strategy. Tuli emphasized prioritizing customer outcomes during the 2008–2009 financial crisis and the COVID-19 pandemic, notably through significant Paycheck Protection Program lending. He also highlighted providing community banking insights to the Boston Fed board.
OtherCorporate governance
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2025-07-23•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) summoned an insurer to address public complaints about changes to health insurance coverage and premiums, instructing the cessation of actions affecting policyholder rights. Senior management discussed product development, risk management, and communication issues, with the OIC emphasizing clarity in sales information and premium-risk alignment. The insurer must submit a remediation plan by 30 July 2025 for further supervisory review.
SupervisionInterventionsOther
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2025-07-23•Global•GPFI
The Global Partnership for Financial Inclusion (GPFI) released the co-chairs’ summary of its second plenary meeting under South Africa’s G20 presidency, focusing on the 2025 work programme. Key discussions included transitioning from access to usage of financial services, an implementation framework for the G20 GPFI Action Plan on MSME Finance, and innovative technologies for inclusion. The World Bank presented a timetable for a new National Remittance Plan template, noting a decrease in global remittance costs.
Policy & regulationImplementation, projects & pilotsFinancial inclusionMarket development
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2025-07-23•Global•GPFI
The G20 Global Partnership for Financial Inclusion conducted its inaugural online webinar on the Action Plan for Micro, Small and Medium Enterprise financing, highlighting initiatives, challenges, and proposed actions to enhance MSME support. The event showcased best practices from Italy, India, and South Africa, with materials available for download.
Policy & regulationCooperationSME financing
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2025-07-23•Global•GPFI
The G20 Global Partnership for Financial Inclusion (GPFI) released a summary from its second webinar on the G20 GPFI Action Plan on MSME Financing, highlighting initiatives and challenges. Japan introduced the Enterprise Value Charge, a secured-lending framework effective Spring 2026, while Colombia detailed its online movable-collateral registry and National Guarantee Fund. Türkiye and Egypt showcased support programs for MSMEs, including funding and lending quotas, with significant impacts reported.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-07-23•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has issued a banking licence to Closed Joint-Stock Company Humo Bank for operations in both national and foreign currencies, following its conversion into a bank. Concurrently, the previous licence for CJSC “Humo” was invalidated. These actions align with Tajikistan’s legal framework on banking and licensing.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-23•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network (SBFN) announced the Southern African Development Community Banking Association (SADC BA) as its newest member, enhancing efforts to promote Environmental, Social, and Governance (ESG) adoption. SADC BA, representing 12 national banking associations, joined during the inaugural SADC Sustainable Finance Forum in Cape Town. This addition brings SBFN's membership to 101 across 72 emerging markets.
Policy & regulationCooperationDomestic cooperation
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2025-07-23•Aruba•Central Bank of Aruba
The Central Bank of Aruba's Financial Sector Supervision Report 2024 highlights that supervised institutions remain well-capitalized but urges vigilance due to geopolitical risks. The Bank has tightened solvency frameworks, progressed on a deposit insurance scheme, and introduced consumer credit reforms. It also emphasizes the need for a new AML/CFT/CPF National Risk Assessment and updates on technology risk and operational resilience guidance.
SupervisionSupervision approach, priorities & toolkit
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2025-07-23•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam released the Business Sentiment Index for May 2025, showing a slight decline in current business conditions to 49.7, primarily due to the Oil & Gas sector. The one-month-ahead index improved to 50.3, reflecting optimism among large enterprises. Sectoral performance varied, with Real Estate & Ownership of Dwellings being the most optimistic and Wholesale & Retail Trade the weakest.
Data & statisticsEconomic data and developments
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2025-07-23•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission's Securities Scientific Research and Training Center signed a memorandum of understanding with Ho Chi Minh City Banking University to enhance securities market training and talent development. The agreement supports joint training, practice-oriented research, and student opportunities for real-world experience.
Institutional developmentCooperation & capacity buildingOther
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2025-07-23•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission has designated five bank holding companies and five banks as domestic systemically important banks (D-SIBs) and financial institutions (D-SIFIs) for 2026, with no changes from the previous year. The entities include Shinhan Financial Group, KB Financial Group, Hana Financial Group, Woori Financial Group, NH Financial Group, and their respective banks. D-SIBs must maintain an additional 1.0% common equity capital, and D-SIFIs are required to submit recovery plans to the Financial Supervisory Service.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-07-23•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission approved the 2025 recovery and resolution plans for 10 domestic systemically important financial institutions (D-SIFIs), including major financial holding companies and their banks. The plans, mostly meeting international standards, incorporate tools to enhance risk preparedness and expedite resolution proceedings. The Korea Deposit Insurance Corporation and D-SIFIs were notified of areas needing improvement.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-07-23•South Korea•South Korea Financial Services Commission
South Korea’s Financial Services Commission proposes amending the Enforcement Decree of the Financial Investment Services and Capital Markets Act to enhance market surveillance and tighten sanctions on unfair trading. The Korea Exchange would adopt individual-centred surveillance, significantly increase penalty surcharges for insider trading and disclosure violations, and introduce new aggravated sanctions criteria for misconduct, including unfair trading by financial company employees and false disclosures by listed companies.
Policy & regulationRules & requirementsMarket abuse
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2025-07-23•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) rejected a settlement proposal from Cedarwood Private Equity S.A. and nine individuals due to legal impediments and the seriousness of alleged fraudulent conduct. However, the CVM approved settlements with Roberto Estefano and MV Auditores Independentes S/S, involving payments of BRL 280,000 and BRL 27,600, respectively, for violations related to trading disclosures and professional education compliance.
EnforcementInvestigations & enforcement actionsOther
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2025-07-23•Germany•German Bundesbank
The German Bundesbank's 2024 payments statistics reveal an 11% increase in card payments to 13 billion transactions, with SEPA instant credit transfers rising 37% to 337 million transactions. Credit transfers accounted for EUR 64 trillion, representing 90% of all payments. The number of ATMs and transfer terminals operated by German payment service providers declined by 3%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-23•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a prohibition order under section 33 of The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020. Mr. Alex Phil, formerly known as Alexei Filatov, is prohibited from holding a supervised role from 18 July 2025 to 18 May 2028.
EnforcementSanctions & designations
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2025-07-23•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission took action against ITI Trade LTD and former director Alex Phil for regulatory failures, imposing penalties of GBP 175,000 on the firm and GBP 35,000 on Phil. The investigation found systemic AML/CFT and corporate governance failings, including inadequate risk assessments and customer due diligence, linked to an outsourced model in Russia. Phil was banned from a supervised role for nearly three years for misleading the regulator and lacking competence and diligence.
EnforcementInvestigations & enforcement actionsAML and CFTCorporate governance
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2025-07-23•Canada•Ontario Securities Commission
The Ontario Securities Commission announced Stéphane Gagnon's conviction for fraud over CAD 5,000 and using a forged document, resulting in a five-year jail sentence and a repayment order exceeding CAD 7.75 million. Gagnon fraudulently obtained over CAD 20 million from more than 300 investors by falsely promising access to locked-in retirement funds. The case was prosecuted by the Ministry of the Attorney General after an OSC Criminal Investigations & Prosecutions team investigation.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-23•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network announced the Southern African Development Community Banking Association as its newest member, expanding the network to 101 financial sector regulators and industry associations across 72 emerging markets. The membership, signed during the SADC Sustainable Finance Forum, aims to support the adoption of environmental, social, and governance themes among SADC BA's members.
Policy & regulationCooperationDomestic cooperation
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2025-07-23•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network (SBFN) announced the Southern African Development Community Banking Association (SADC BA) as its newest member, expanding SBFN's reach to 101 members across 72 emerging markets. SADC BA, representing 12 national banking associations in Southern Africa, aims to leverage this membership to enhance ESG adoption among its members. The membership was formalized during the inaugural SADC Sustainable Finance Forum in Cape Town.
Policy & regulationCooperationDomestic cooperation
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2025-07-23•Global•World Savings and Retail Banking Institute
The World Savings and Retail Banking Institute conducted a mission to Nigeria, launching a pilot project with LAPO Microfinance Bank to support climate-smart adaptations for women smallholders and women-led enterprises. The initiative includes tailored credit and improved agricultural practices. The delegation also engaged with the Central Bank of Nigeria and UNESCO Abuja on financial inclusion and skills development.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-07-23•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC advised bondholders of five CHAYO bond series to review information and join the electronic bondholders’ meeting on 29 July 2025, where key bond term changes will be voted on. Proposed changes include extending maturities by two years, adjusting coupon rates, and altering repayment terms, with conditions tied to land sale proceeds. The SEC mandated the bondholders’ representative to evaluate the proposals and provide informed opinions to bondholders.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-23•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released remarks by Ranking Member Elizabeth Warren opposing five Trump Administration nominees. Warren criticized Craig Trainor and Ben DeMarzo for roles at the Department of Housing and Urban Development, and Francis Brooke and David Peters for positions at the Treasury and Commerce Departments. While acknowledging some positive commitments from Export-Import Bank chair nominee John Jovanovic, Warren cited tariff policy concerns for her opposition.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-23•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a discussion draft of digital asset market structure legislation and requested stakeholder feedback. The draft builds on the GENIUS Act and the CLARITY Act, proposing oversight division between the SEC and CFTC, and introducing "ancillary assets" with specific SEC rulemaking directives. Stakeholder input will aid in developing comprehensive digital asset legislation.
Policy & regulationRules & requirements