The New Brunswick Financial and Consumer Services Commission issued a warning that MuxCap, based in Geneva, Switzerland, is not registered to deal or advise in securities in New Brunswick. The alert includes the firm's current and former websites and references related warnings from other regulatory authorities.
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 establish consistent expectations among firms and regulators. The draft addresses vulnerabilities in risk management and the lack of comprehensive guidance, with comments open until 15 September 2025.
The Central Bank of Afghanistan (Da Afghanistan Bank, DAB) reported key achievements for 1446 AH, including a 0.79% appreciation of the Afghani against the US dollar and growth in banking-sector assets, profits, and capital. DAB highlighted establishing a regulatory framework for microfinance, electronic money, and payment institutions, alongside expanding Islamic financial services and branchless banking. Easing restrictions on public bank deposits led to a notable increase in deposits over the last three months.
The Egypt Financial Regulatory Authority launched its Regulatory Sandbox for fintech applications at the FRA Fintech Forum 2025, facilitating multiple memoranda of understanding with fintech ecosystem participants. These agreements aim to develop technology solutions for the non-banking financial sector and enhance data exchange and connectivity. Established under FRA Board Decision No. 163 of 2024, the sandbox allows non-banking financial services providers to test innovative fintech applications.
The Egypt Financial Regulatory Authority hosted the FRA Fintech Forum 2025 to foster strategic partnerships and dialogue on digitalisation and fintech challenges. Egypt’s Minister of Finance highlighted efforts to advance digital transformation and improve tax services, focusing on startups and e-commerce. The Egyptian Tax Authority provided insights on tax compliance and facilitation for digital platforms.
The Canadian Securities Administrators (CSA) released an Oversight Review Report on the Canadian Investment Regulatory Organization (CIRO), evaluating its compliance with recognition orders and regulatory process effectiveness. The risk-based review focused on IT, membership intake, and trading conduct compliance, identifying three medium priority findings. CIRO has developed an action plan to address these findings, with no other concerns noted by CSA.
The Canadian Public Accountability Board and the Chartered Business Valuators Institute released a guide clarifying interactions among valuation experts, auditors, and management in financial reporting. It emphasizes role boundaries, good practices, and common valuation issues, recommending at least Estimate-level reports for significant risk cases. The guide also addresses scenarios like handling contradictory information and managing independence risks.
The Commodity Futures Trading Commission's Division of Market Oversight and Division of Clearing and Risk issued a no-action position for Chicago Mercantile Exchange Inc. regarding swap data reporting and recordkeeping obligations for binary option transactions. This relief exempts CME and its participants from specific compliance requirements, aligning with similar no-action letters for other designated contract markets and derivatives clearing organizations.
Moldova's National Commission for Financial Markets urged joint-stock company shareholders to update their information in the shareholder register. Outdated details could lead to missed notifications, unclaimed dividends, and loss of rights. Shareholders must report changes, and notifications sent to outdated addresses remain valid.
The British Columbia Securities Commission (BCSC) fined Richard Yung Shyang Chen CAD 4,001 for unregistered securities trading and failing to file a prospectus. Chen, a registered mutual fund dealing representative, facilitated two investment contract trades outside his registration, involving CAD 350,000 in a real estate opportunity without a filed prospectus.
The Hellenic Capital Market Commission approved the offering document for OLYMPIA HOLDINGS S.A.'s mandatory public offer to KTIMA KOSTA LAZARIDI S.A. shareholders. It also revoked the supplementary alternative investment fund manager authorisations of PREMIA REIC and Prodea REIC, following requests by the companies under new legal provisions.
The U.S. Securities and Exchange Commission (SEC) has begun appointing all five positions on the Public Company Accounting Oversight Board (PCAOB), including the Chairperson. The SEC oversees the PCAOB, which regulates audits of public companies, brokers, and dealers. The SEC's Office of the Chief Accountant manages the selection process, focusing on evaluating Board member compensation as part of the PCAOB's 2026 budget review.
The U.S. Securities and Exchange Commission (SEC) filed a status report with the U.S. Court of Appeals for the Eighth Circuit, stating it does not intend to review its Climate-Related Disclosure Rules amid ongoing litigation. The SEC argued it could not predict future policy decisions without a court ruling on its statutory authority. Commissioner Caroline A. Crenshaw criticized the report as unresponsive, emphasizing that changes to the rules must adhere to the Administrative Procedure Act’s notice-and-comment process.
The Securities and Exchange Commission of Zimbabwe (SECzim) issued a notice warning against engaging with unlicensed market players for securities transactions and capital market services. Investors are urged to verify licensing through SECzim's resources and prospective operators are reminded of legal penalties for conducting business without a SECzim licence.
The Bank of Thailand's Governor, Sethaput Suthiwartnarueput, chaired the 30th Executives’ Meeting of East Asia-Pacific Central Banks, focusing on regional macro-financial issues. Key topics included geopolitical tensions' impact on trade and capital flows, evolving inflation dynamics, and artificial intelligence's influence on the financial sector. The meeting emphasized monitoring and policy assessment in digital finance over the next two to three years.
The State Bank of Vietnam has released an action plan to implement the country's science, technology, and innovation strategy in the banking sector through 2030. The plan aims for 80% of regulated entities to engage in innovation activities and outlines nine workstreams, including governance reform, data digitisation, and legal framework completion for digital banking. It also focuses on enhancing research institutions, skills development, infrastructure, and international cooperation.
The State Bank of Vietnam's action plan under Decision 2860/QD-NHNN aims to implement the National Strategy on waste prevention and control through 2035. It assigns responsibilities to banking entities to enhance resource efficiency and outlines objectives like streamlining structures, reducing administrative procedures, and accelerating digital transformation. The plan includes 10 task groups focusing on waste reduction, governance improvement, and restructuring credit institutions, emphasizing addressing non-performing loans and enhancing supervision.
The Central Bank of Egypt reported a 69.6% year-on-year increase in remittances from Egyptians abroad for FY 2024/2025, reaching approximately USD 32.8 billion by May. From January to May 2025, remittances rose 59% year on year to USD 15.8 billion, with May alone seeing a 24.2% increase to USD 3.4 billion, marking the highest inflows recorded for that month.
The Office of the Comptroller of the Currency appointed Kate Tyrrell as Chief of Staff and Senior Deputy Comptroller, joining Comptroller Jonathan V. Gould’s leadership team. Tyrrell will advance the Comptroller’s priorities, manage daily operations, oversee public affairs, and advise on policy and operations within the OCC and interagency. Her background includes senior roles in the private sector and positions at the Federal Housing Finance Agency and U.S. Department of the Treasury.
The Argentina Securities Commission (CNV) issued General Resolution No. 1076 to streamline procedures and expedite securities placements in the local capital market. Key changes include enhanced flexibility for Frequent Issuers, simplified CEDEAR and CEVA procedures, and updated dissemination timelines and minimum subscription amounts for negotiable securities. These measures aim to align local practices with global standards and boost market efficiency.
The Argentina Securities Commission (CNV) will implement the Remote Procedures System (TAD) for information requests in investigations or inspections from 1 September, as per General Resolution No. 1077. CNV-regulated entities must respond via TAD unless an impediment is justified, while non-regulated parties may use TAD or the in-person registry. TAD is optional for notifications and submissions in administrative disciplinary proceedings.
The Central Bank of Congo has issued a national open tender to procure solar equipment for its Provincial Directorate in Kananga. Bidders must meet eligibility criteria, including legal existence, financial statements, tax clearance, technical capacity, and a bank-guarantee bid security of CDF 6,000,000. Tender documents are available for a fee from the bank’s Projects and Public Procurement Management Unit.
The Bank of Korea's Consumer Tendency Survey for July 2025 shows the Composite Consumer Sentiment Index increased to 110.8, a rise of 2.1 points from June.
The National Bank of Moldova released monthly statistics on the non-cash foreign exchange market, highlighting SPOT transactions as the primary activity, with limited SWAP and no FORWARD turnover. Interbank SPOT purchases and sales were mainly in EUR, while intrabank transactions involved significant USD activity. The data, used to set the official Moldovan leu exchange rate, is based on banks' reports and converted to EUR using monthly average rates.
The National Bank of Moldova released data on its foreign exchange market operations, detailing spot transactions and FX swaps aligned with its monetary and exchange-rate policy. The report shows EUR 27.6 million in spot sales and EUR 9.7 million in FX swap purchases, with no spot purchases or swap sales. Transactions are recorded on the trade date and converted into EUR and USD using monthly average exchange rates.
The Insurance Regulatory and Development Authority of India has released an exposure draft of the Internal Insurance Ombudsman Guidelines, 2025, for public consultation. The guidelines propose an independent review mechanism within insurers to address policyholder grievances, applicable to insurers with over three years of operations, excluding reinsurers. The draft outlines the appointment, roles, and reporting structure of the Internal Insurance Ombudsman, handling claims up to INR 50 lakh.
The European Insurance and Occupational Pensions Authority (EIOPA) released a statement on a monitoring exercise regarding the integration of climate change-related risks into insurers' Own Risk and Solvency Assessment (ORSA). Findings show improved integration of climate risk assessments into risk management frameworks, though challenges and cross-country differences persist. EIOPA notes evolving supervisory practices and plans to support convergence and capacity building among national supervisors.
The Isle of Man Treasury amended General Licence IOM/2024/RUS042, updating Oil Price Cap permissions for shipping Russian crude oil, setting prices at USD 100 for “premium to crude” and USD 45 for “discount to crude.” Conditions include exclusions for Designated Persons and a per-voyage attestation process for Tier 1 and Tier 2 providers. Additionally, General Licence INT/2024/4423849 was amended to reduce the crude oil price cap from USD 60.00 to USD 47.60, effective 2 September 2025, with a 45-day wind-down period for existing contracts.
The Central Bank of the UAE (CBUAE) and Presight have launched a joint venture to advance the CBUAE’s Financial Infrastructure Transformation Programme. This initiative will provide AI-powered platforms and services for the UAE’s financial market infrastructure, focusing on systems like the Central Bank Digital Currency infrastructure, Instant Payments Platform, Domestic Card Scheme, National Card Switch, Real-Time Gross Settlement system, and Open Finance platform.
Mexico's National Banking and Securities Commission (CNBV) and the Tax Administration Service (SAT) signed an agreement to integrate SAT’s e.firma into regulatory processes, enhancing digitalisation and security. Initially, Regulatory Report R24 will use e.firma for secure data transmission and authentication. The agreement also allows CNBV to use SAT services to streamline procedures and reinforce the legal validity of electronic documents.
The Central Bank of Cyprus released its consolidated balance sheet statement as of 30 June 2025.
The Saudi Arabia Capital Markets Authority announced that Sahem Financial Company has fulfilled the requirements for its Financial Technology Experimental Permit to test activities related to offering and investment in debt instruments. This follows a CMA Board decision granting the permit under the Capital Market Law and related regulations.
The Securities Commission of The Bahamas warned that FMFW Ltd, a digital token exchange, is not registered or licensed. FMFW may be conducting activities requiring registration under Bahamian acts, including the Securities Industry Act, 2024, and the Digital Assets and Registered Exchanges Act, 2024. The Commission advises extreme caution when dealing with FMFW or its agents.
The Italian Securities Commission (Consob) reported a 13.6% increase in the total market value of shares traded on Italian markets, reaching EUR 949.7 billion by mid-2025. Trading activity surged across equity and fixed income markets, with notable increases in turnover for listed shares and government bonds. Despite this, the number of listed or traded companies declined, with Euronext Growth Milan experiencing its first negative net balance since 2020.
The Polish Financial Supervision Commission's National Working Group for benchmark reform has initiated a consultation on a draft recommendation for using the POLSTR reference index and related indices in new contracts. The recommendation applies to banking products, leasing, and factoring.
The Spanish Securities Commission (CNMV) reported its market stress indicator is in a medium-risk zone due to US tariff uncertainty and the Israel–Iran conflict, with a reading of 0.29. The Financial Stability Note highlights high geopolitical, operational, market, and contagion risks, along with medium-to-long-term risks like cybersecurity and cryptoassets. It also notes increased correlation between major cryptoassets and traditional financial instruments, raising potential financial stability concerns.
The Belgium Financial Services and Markets Authority's third Retail Investor Dashboard shows strong retail participation in Q1 2025, with significant increases in share and ETF trading after the 2 April US import tariff announcement. About 187,000 retail investors traded shares, and a record 94,000 traded ETFs, with ETFs attracting more new investors than shares for the second consecutive quarter. Despite increased trading, Belgian retail investors were net sellers of shares by value, mainly driven by men and those aged 60 and over.
The National Credit Regulator issued a consumer advisory urging men to manage personal finances better by adopting regular saving habits and cautious credit use amid rising household costs. The advisory highlights societal pressures on men as "breadwinners" leading to overspending and debt, and recommends practical steps such as budgeting, understanding rights under the National Credit Act, and using only NCR-registered credit providers.
South Africa's National Credit Regulator issued a consumer advisory for July's Savings Month and Men's Month, urging men to save consistently and use credit responsibly amid rising living costs. It emphasizes small, regular savings to build financial resilience and reduce reliance on high-interest credit. It also advises on understanding rights under the National Credit Act, sticking to a budget, and using only NCR-registered credit providers.
ASIC has sued Fortnum Private Wealth Limited in the NSW Supreme Court for inadequate cybersecurity management as a financial services licensee. Allegations include insufficient policies, a data breach affecting over 9,000 clients, inadequate training, and lack of expertise. ASIC seeks declarations and a penalty.
The Australian Securities & Investments Commission (ASIC) will review the debt management and credit repair sector for compliance, amid concerns of unfair practices affecting vulnerable consumers. The review will scrutinize about 100 licensees, focusing on unmet agreements, excessive fees, and poor communication. Following the 2021 licensing regime and actions against Bakken Holdings Pty Ltd and Chapter Two Holdings Pty Ltd, ASIC plans a public report in 2026 and may enforce against unfair or unlawful practices.
The Ukraine National Commission on Securities and Stock Market reported a 29.5% increase in commodity exchange turnover to UAH 188.5 billion in H1 2025, driven primarily by a 58.5% rise in electricity trading. Unprocessed timber, natural gas, and coal also saw trading increases, while oil-industry commodities experienced declines, comprising 13.9% of total volume.
Ukraine’s National Securities and Stock Market Commission approved technical parameters for submitting financial statements in XBRL format to the Financial Reporting Center and the electronic format of the Taxonomy UA IFRS XBRL 2024. This move aims to standardize reporting conditions and enhance transparency and accountability. A complete transition to XBRL format for financial statements and management reports is planned for 2026.
The Ukraine National Commission on Securities and Stock Market clarified the Law of Ukraine On Collective Investment Institutions and made several decisions. Key actions include registering share issues for PJSC Mandarin Plaza and JSC ZNVKIF G Investments, approving bond issuance for NOVA POSHTA LLC, and cancelling JSC ZNVCIF Bilgroup's share issue registration. Amendments to previous resolutions and the appointment of a risk manager at LLC AMC OTP Capital were also approved.
The Angola Insurance Authority (ARSEG) has cancelled the licences of inactive insurance intermediaries under Law No. 6/24 on Insurance Mediation and Brokerage. This law mandates cancellation if intermediaries are unreachable for over 90 days or inactive for more than six months. The cancellation results in the automatic transfer of contract rights and obligations to insurance companies, which must notify policyholders and inform them of their right to appoint a new intermediary.
The Dutch Authority for the Financial Markets released the Financial Stability Committee's 9 July 2025 meeting readout, highlighting financial stability pressures from geopolitical tensions and economic vulnerabilities. The committee reviewed IMF recommendations on mortgage lending governance and emphasized diversifying trade relations and strengthening the European internal market. It noted the benefits and risks of US economic ties, citing initiatives like the European Payments Initiative and the Digital Operational Resilience Act as key to resilience and strategic autonomy.
The Central Reserve Bank of El Salvador reported USD 4,837.5 million in family remittances for the first half of 2025, marking a continued increase primarily from the United States. June 2025 saw remittances rise 29% year-on-year to USD 829.9 million, with notable growth in average monthly remittance values and geographic distribution within El Salvador. Investment-purpose remittances totaled USD 59.3 million, while consumption-purpose remittances reached USD 4,778.3 million, with financial institutions handling most payouts.
The Central Reserve Bank of El Salvador reported goods exports reached USD 574.1 million in June 2025, a 12.5% year-on-year increase, with significant contributions from coffee and manufactured items. From January to June 2025, exports totaled USD 3,418.3 million, up 6.5% from the same period in 2024, while imports rose 11.5% to USD 8,681.6 million. Key export markets included Central America and the United States, accounting for 82% of total exports.
AUSTRAC has cancelled an enforceable undertaking with PayPal Australia after completing a two-year remediation plan to improve its international funds transfer systems. This followed a 2020 audit revealing inadequate anti-money laundering and counter-terrorism financing controls. AUSTRAC highlighted increased regulatory scrutiny on payment platforms due to sector growth and compliance concerns.
AUSTRAC has closed Gold Corporation’s enforceable undertaking after confirming compliance with Anti-Money Laundering and Counter-Terrorism Financing Act obligations. Initiated in November 2023, the undertaking addressed serious deficiencies in Gold Corporation’s systems and reporting. AUSTRAC emphasized ongoing vigilance due to money laundering risks associated with bullion and highlighted bullion dealers as a focus in its 2024 regulatory priorities.
The Central Bank of Ireland appointed Colm Kincaid as Deputy Governor, Consumer & Investor Protection, effective 1 August. Kincaid will lead strategic development and execution of consumer and investor protection policies and represent the Bank in various forums. He previously held senior roles at the Central Bank, including Director of Enforcement and Director of Consumer Protection.
Indonesia's Financial Services Authority (OJK) issued Regulation No. 16 of 2025, mandating fit and proper assessments for key individuals in the Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets sector to enhance governance and integrity. The regulation targets controlling shareholders, directors, and boards of commissioners, focusing on integrity, financial reputation, and competence. It implements Law No. 4 of 2023 and takes effect on 1 October 2025.
The Securities and Exchange Commission of Pakistan has issued the country's first digital-only non-life insurance license to Digi Insurance Limited, enabling a fully digital operating model without physical branches. This move supports SECP's strategy to promote technology-driven insurance distribution, aiming to lower costs and expand access to underserved areas while fostering competition and innovation in the non-life insurance sector.
The National Credit Union Administration (NCUA) released its Office of the Ombudsman 2024 Annual Report, detailing core programs and activities, including engagement with examiners and independent reviews. The report highlights the processing of 44 inquiries related to data breaches and cyber threats, one recommendation to the NCUA Board on consumer complaints, and the resolution of 598 inquiries.
The People's Bank of China summarized the G20 finance ministers and central bank governors meeting in Durban, highlighting global downside risks and IMF quota reform. The meeting emphasized the need for a strong, quota-based IMF and urged completion of domestic approval processes for the 16th General Review of Quotas. Deputy Governor Tao Ling noted China's economic improvement and the central bank's role in advancing the G20 Sustainable Finance agenda.
The People's Bank of China reported Q2 2025 lending statistics, with outstanding RMB loans at CNY 268.56 trillion, a 7.1% year-on-year increase. Notable growth areas include medium to long term industry loans up 10.7% to CNY 26.27 trillion, and tech-based SME loans up 22.9% to CNY 3.46 trillion. Methodological changes were noted, affecting comparability of inclusive finance, green loans, and rural-area statistics.
The National Bank of Ukraine's quarterly Bank Funding Survey reveals banks increased retail deposits and wholesale funding in Q2, with expectations for further rises in Q3. Funding costs are anticipated to increase due to higher interest rates on retail deposits, while the share of foreign-currency funding declined. Nearly all banks reported higher total capital, driven by profitability, despite potential regulatory and macroeconomic challenges.
The Bank of France has launched the 2025 “Young Researchers in Green Finance” prize, offering EUR 3,000 to early-career researchers in green finance. Eligible candidates must be affiliated with a French academic institution and either hold a PhD and be under 40 or be enrolled in a PhD programme. Applications are due by 10 October 2025.
The Hong Kong Monetary Authority concluded enforcement actions against 33 Financial Services Limited (33FS) for breaching the Payment Systems and Stored Value Facilities Ordinance, imposing a penalty of HKD 1,600,000. 33FS failed to maintain adequate systems of control for anti-money laundering and counter-financing of terrorism compliance. The penalty reflects the seriousness of the violations, the firm's history, and its cooperation and remedial efforts.
The Hong Kong Monetary Authority fined Indian Overseas Bank, Hong Kong Branch, HKD 8.5 million and Bank of Communications entities HKD 7.7 million for deficiencies in monitoring customer relationships. The penalties considered the seriousness of deficiencies, deterrence needs, remedial actions, and the banks' cooperation.
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites and fake internet banking login screens linked to The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Vladimir Vladimirovich Tsapko's appointment to the Board of Directors of a second-tier bank.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Shalkar Amangosovich Jusupov's appointment to the board of directors of a second-tier bank.
Kazakhstan's Financial Market Agency released an explainer on CASCO, a voluntary motor insurance covering vehicle damage, including theft and accidents. It outlines claims procedures, evidence requirements, and settlement options, emphasizing prompt incident reporting and insurer notification. It also advises on handling additional damage discovered during repairs and provides recourse options for disputed claims.
The National Bank of Bulgaria issued an alert regarding fraudulent phone calls from individuals impersonating central bank employees, falsely claiming to offer loans. The bank emphasized these calls are scams and advised the public not to share personal data or follow instructions from such calls. It urged those suspecting fraud to contact their bank and report to the Ministry of Interior.
The Central Bank of Samoa seeks a consultant to train commercial banks and insurance providers on ESG and green finance, as part of the Global Green Growth Institute's initiative to enhance financial system sustainability in Pacific Island Countries. This effort supports implementing Samoa's ESG Guidelines and Sustainable Finance Roadmap, aiming for standardized definitions and data reporting to develop a national green taxonomy.
The Isle of Man Financial Services Authority released a discussion paper and draft Net Stable Funding Ratio reporting forms to gather feedback on updating the Isle of Man’s Basel III liquidity standards implementation.
The Thailand Office of Insurance Commission's Advanced Insurance Institute launched its 13th insurance leadership programme, emphasizing a supervisory reform agenda. Secretary-General Chuchart Pramoolpol announced plans for full-consolidation group-wide supervision by 2026, enhanced investment flexibility, and updated standards for insurer financial stability. The agenda also includes new ESG requirements, controls on agents and brokers, and electronic premium-payment channels.
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a discussion draft of digital asset market structure legislation, building on the House-passed CLARITY Act, and issued a Request for Information (RFI) for stakeholder feedback. The draft proposes defining "ancillary assets," tailored disclosure requirements, and a new "Regulation DA" to exempt certain offers from SEC registration. It also seeks input on regulatory clarity, investor protection, trading venues, custody, and banking innovation.
The South African Reserve Bank reported a 1.3% decrease in the composite leading indicator for May 2025, driven by declines in residential building plans and domestic manufacturing orders. Conversely, the composite coincident and lagging indicators rose in April 2025, supported by industrial production and trade sales. The only positive contribution to the leading indicator was an increase in the US dollar-denominated export commodity index.
The Superintendency of Banks of the Dominican Republic, with the Ministry of Foreign Affairs, introduced digital mechanisms for financial entities to verify document authenticity. Implemented via Circular SB: CSB-REG-202400010, the measures aim to prevent fraud and enhance traceability using QR codes, digital certificates, or unique verification links. Entities can select the most suitable solution, ensuring user-friendly verification for documents like bank reference letters and account statements.
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation via the websites www.ostiassicurazioni.com and ostiassicurazioni.com, instructing Italian internet service providers to block access. This action is part of IVASS's efforts to combat scams, with 263 websites blocked since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers and intermediaries through its online registers before making payments.
The South Korea Financial Services Commission announced cabinet approval for legislative revisions raising the maximum deposit protection coverage to KRW100 million from KRW50 million, effective 1 September 2025. This applies to deposits at banks, savings banks, insurance companies, financial investment businesses, and mutual finance businesses under the Korea Deposit Insurance Corporation. The FSC and the Korea Deposit Insurance Corporation will oversee implementation and review deposit insurance premium rates, with updates expected in 2028.
The Astana Financial Services Authority released three consultation papers on proposed amendments to the Astana International Financial Centre regulatory framework, focusing on capital markets, digital assets, and crowdfunding. Key proposals include streamlining securities offering processes, revising digital asset service provider obligations, and enhancing crowdfunding platform disclosures and eligibility requirements. The amendments aim to align regulations with broader frameworks and improve market efficiency.
The Brazil Securities Commission (CVM) acquitted PricewaterhouseCoopers Auditores Independentes S.A. and Claudia Eliza Medeiros de Miranda in a proceeding concerning alleged audit irregularities for Vince Shopping Centers Fundo de Investimento Imobiliário's 2018 financial statements. The decision, supported by Acting Chair Otto Lobo and Director João Accioly, faced partial dissent from Director Marina Copola, who advocated a warning due to specific audit failures.
The German Bundesbank's July Bank Lending Survey shows tightened lending standards for corporate and household loans in Q2 2025, despite rising credit demand. Standards tightened by +3% for SME corporate loans and +11% for housing and consumer loans, due to higher perceived credit risk and lower risk tolerance. For Q3 2025, banks plan to ease corporate lending standards but may tighten household lending if creditworthiness declines, with demand expected to rise across all segments.
The Central Bank of the Republic of Azerbaijan announced a three-year programme starting 1 August 2025 to expand real-sector access to finance by enabling banks and non-bank credit organisations to hedge foreign funding. Funds from non-resident financial institutions will be converted into manat and hedged using the Central Bank’s instrument, targeting loans and leasing for micro, small, and medium-sized enterprises, family-farm households, and the self-employed. Eligible funding raised before the start date can switch to the Central Bank’s facility, with 50% of savings directed to easing credit terms for customers.
The Guernsey Financial Services Commission issued a Russia sanctions notice under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, applicable in Guernsey, detailing ships subject to sanctions. Firms must identify and report any business links to these ships to the States of Guernsey Policy & Resources Committee and comply with section 14 of the Sanctions (Bailiwick of Guernsey) Law 2018. Affected firms should notify the Commission with a Rule 12.37 report detailing relevant transactions and relationships.
The Securities and Exchange Regulator of Cambodia, in collaboration with Australia, organized a workshop to enhance public awareness on the Prakas on the Offering of Infrastructure Debt Securities and related guidelines. The event, chaired by SERC Director General Sou Socheat and Australian Ambassador Derek Yip, included participation from various stakeholders and expert speakers from GuarantCo and CGIF.
The Guernsey Financial Services Commission has designated INTERSHIPPING SERVICES LLC and LITASCO MIDDLE EAST DMCC under the UK Russia (Sanctions) (EU Exit) Regulations 2019, imposing an asset freeze and trust services sanctions. Businesses must freeze any funds linked to these entities and report findings to the Policy & Resources Committee and the Commission. Firms are prohibited from providing funds to the designated entities unless permitted by a derogation or licence.
The Guernsey Financial Services Commission issued a Russia sanctions notice after UK designation amendments for Yegor Yurievich Karasev and OJSC Keremet Bank, maintaining asset freeze and trust services sanctions under the Russia (Sanctions) (EU Exit) Regulations 2019. Businesses must check for relationships with designated persons, freeze funds, and report findings to the States of Guernsey Policy & Resources Committee. Affected firms should also notify the GFSC and submit a report under Handbook Rule 12.37.
The Network for Greening the Financial System published a paper advocating for integrating adaptation and resilience into climate transition plans, highlighting the need to manage physical climate risks and identify adaptation opportunities. It outlines adaptation objectives and response options, emphasizing developing metrics and targets to address underfunded adaptation efforts, serving as input for the G20 Sustainable Finance Working Group's 2025 priority on scaling up adaptation finance.
The Network for Greening the Financial System (NGFS) released an input paper for the G20 Sustainable Finance Working Group, detailing methods to integrate climate adaptation and resilience into transition plans. The paper outlines a maturity pathway for institutions to develop adaptation metrics and targets, emphasizing public-sector conditions and real-economy planning to enhance adaptation-inclusive transition planning.
The Wolfsberg Group issued a statement advocating for a risk-based approach (RBA) to financial crime compliance, emphasizing proportionality and effectiveness while rejecting a "zero failure" approach. The statement aligns with the Financial Action Task Force’s reforms and includes plans to update the Wolfsberg Group’s 2006 RBA guidance and related materials.
The Central Bank of Poland reported a PLN 15.9bn increase in the M3 money supply for June 2025, reaching PLN 2,585.8bn, primarily driven by a rise in deposits and other claims of non-financial corporations. Deposits for non-financial corporations increased by PLN 22.0bn, while those for households rose by PLN 1.6bn. Debt of non-financial corporations increased by PLN 11.6bn, whereas net debt of the central government decreased by PLN 3.7bn.
The Uganda Insurance Regulatory Authority issued directives to enhance local insurance personnel development by restricting foreign staffing and requiring regulator approval for work permits. Each insurance company may employ only one foreign staff member, excluding the Chief Finance Officer. The Immigration Department will not issue or renew work permits without IRA's prior written approval, effective immediately for new and renewing contracts.
The Thailand Securities and Exchange Commission issued an alert urging holders of JCK International Public Company Limited’s JCK213A and JCK217A bonds to review information and vote at the reconvened bondholders’ meeting on 25 July 2025. The meeting will address proposed changes to bond terms, including maturity extension and rescheduling of principal repayments. Bondholders’ representatives must analyze the implications of the proposals and provide their opinions.
Thailand's Securities & Exchange Commission imposed civil sanctions on three individuals for insider trading of AAPICO Hitech shares, resulting in payments of THB 7,167,579 and barring them from executive roles in securities companies for specified periods. The sanctions follow a referral from the Stock Exchange of Thailand and relate to trading before AH disclosed its Q3 2022 results. If offenders refuse to comply, the SEC will seek a Civil Court order for maximum sanctions.
Senators Elizabeth Warren and Jack Reed expressed concerns to SEC Chairman Paul S. Atkins about the revised compliance date for Form PF amendments, emphasizing risks to systemic risk monitoring. They argue Form PF data is crucial for detecting large-scale risks in private funds, as authorized by the Dodd-Frank Act. The letter also references SEC Commissioner Crenshaw’s dissent on the deadline extension and potential loss of benefits from delayed data collection.
Senator Elizabeth Warren warned BNY Mellon CEO Robin Vince that acquiring Northern Trust could be "presumptively illegal" under federal antitrust law and increase financial stability risks. The letter notes the combined entity's custodial services market share would exceed 30%, with significant market concentration increases. Warren also cited past enforcement actions against BNY Mellon and requested a briefing on the potential merger.
Senator Elizabeth Warren welcomed a U.S. District Court decision reinstating National Credit Union Administration Board Members Todd Harper and Tanya Otsuka, who were removed by President Trump in April. Warren described the firings as illegal and the court's decision as beneficial for credit unions, consumers, and the economy.
The Moroccan Capital Market Authority announced that REIM International Limited has fallen below the 5% voting rights threshold in CFG Bank after selling 43,480 shares. Post-transaction, REIM holds 4.96% of CFG Bank's voting rights. REIM plans to continue selling shares within the next six months.
The Department of Finance Canada has initiated public consultations and released a paper to review the federal deposit insurance framework for federally regulated financial institutions. This review, conducted with the Canada Deposit Insurance Corporation and other agencies, aims to evaluate depositor protection amid evolving financial systems. The last review in 2014 led to legislative changes in 2018, enhancing coverage and rules for various deposit categories.
The Central Bank of Russia announced a law allowing SMEs, individual entrepreneurs, and self-employed persons to request six-month loan repayment holidays every five years for loans under subsidised SME lending programmes. Approval depends on loan size limits, with interest accruing at the contractual rate during the holiday. The law takes effect on 1 October 2025, permitting applications for agreements signed before its adoption but no earlier than 1 March 2024.
The Central Bank of Russia and Moscow Exchange have chosen initial participants for the Shareholder Value Creation Programme to boost market capitalisation for fast-growing companies. A new stock index includes shares of these issuers, limited to those on Moscow Exchange’s Level 1 or Level 2 quotation lists. Index inclusion decisions are made by a committee evaluating corporate governance, transparency, and financial performance.
The Central Bank of Russia will supervise buy-now-pay-later (BNPL) operators under new laws prohibiting pricing practices disguising interest and setting limits on late payment fees. The framework mandates BNPL operators report liabilities over RUB 50,000 to credit history bureaus and standardizes product pricing regardless of payment method. The maximum zero-interest period will be reduced to six months by April 2026 and to four months by April 2028.
The U.S. House Financial Services Committee released Chairman French Hill’s statement for a markup session on bipartisan bills to enhance small business capital access and modernize venture capital regulations. Key proposals include adjusting the Securities and Exchange Commission's exemption threshold for inflation, expanding fund managers' capital-raising abilities, and reforming Federal Deposit Insurance Corporation board requirements. The session also included a vote to reauthorize the Monetary Policy Task Force.
The European Commission has launched a consultation on a draft Communication to clarify favourable prudential treatment under the Capital Requirements Regulation (CRR) for banks' equity investments in qualifying legislative programmes. Supported by EU and national laws, these programmes involve public and private financing to aid specific sectors, allowing banks reduced capital requirements. The draft ensures consistent CRR rule application and outlines eligibility conditions, including significant public subsidies or guarantees and public authority oversight.
Egypt’s Financial Regulatory Authority (FRA) outlined priorities for digital transformation in non-banking financial activities, emphasizing fintech enablement to expand access and support savings and investment. Chair Mohamed Farid highlighted the FRA's focus on digitization, cybersecurity, and service continuity, supported by frameworks like Fintech Law No. 5 of 2022 and recent decisions on technology, digital identity, and outsourcing. The FRA is also advancing crowdfunding frameworks and supporting fintech startups with flexible licensing and reduced regulatory costs.
Egypt's Financial Regulatory Authority (FRA) launched a regulatory sandbox for fintech in the non-banking financial sector to enhance supervision and support innovation. It's open to non-banking financial service providers and firms in the FRA's fintech outsourcing register, based on originality, market efficiency, and consumer protection. FRA also announced hackathons and reported significant digitisation uptake, including digital verification checks and contracts.