Regxplora • Regulatory and Central Bank Updates • Page 378

2025-07-22United StatesFederal Reserve Board

Federal Reserve Board opens conference to integrate review of the capital framework for large banks

Federal Reserve Chair Jerome H. Powell outlined a review of the US bank capital framework at the Integrated Review of the Capital Framework for Large Banks Conference. The review covers risk-based capital requirements, leverage requirements, surcharges for large banks, and stress tests, with ongoing proposals. Powell emphasized the importance of supervisory practices in maintaining bank safety and competitiveness and invited feedback from participants.

Policy & regulationGuidance & interpretationCapital adequacy

2025-07-22MoldovaNational Commission for Financial Markets

National Commission for Financial Markets outlines Moldovan law banning binary options and curbing leveraged derivative distribution to retail investors

Moldova's Parliament amended the capital markets framework to enhance retail investor protections against complex derivatives and aggressive marketing. The changes ban binary options promotion and restrict leveraged derivatives marketing to non-professional clients, specifically prohibiting CFDs. The National Commission for Financial Markets can issue alerts and block misleading ads, with breaches as criminal offences.

Policy & regulationRules & requirementsConsumer and investor protection

2025-07-22ChileChile Financial Market Commission

Chile Financial Market Commission publishes 24th Gender Report adding mutual fund coverage data and showing women hold 17% of directorships

The Chile Financial Market Commission's 24th annual Report on Gender in the Financial System highlights women's representation in governance roles and gender disparities in financial product access. Women hold 17% of directorships, with notable gaps in banking subsidiaries and non-banking payment card issuers. The report also notes gender differences in loan amounts, mutual fund investments, and insurance possession, with women showing better debt payment indicators.

Data & statisticsDiversity and inclusion

2025-07-22United StatesU.S. Securities & Exchange Commission

U.S. Securities & Exchange Commission chair calls for clearer rules for finders as Small Business Advisory Committee considers Regulation A changes

SEC Chair Paul S. Atkins addressed the Small Business Capital Formation Advisory Committee, discussing potential Regulation A enhancements and the ambiguity around "finders" connecting investors with small businesses. He stressed the need for a framework clarifying finder activities outside registered broker-dealers, referencing past recommendations and an unacted SEC proposed exemptive order. Atkins emphasized that committee recommendations should not undermine public markets while revitalizing initial public offerings.

Policy & regulationReform agendas & prioritiesSME financing

2025-07-22United StatesU.S. Securities & Exchange Commission

U.S. Securities & Exchange Commission issues statement on PCAOB Chair Erica Y. Williams stepping down

U.S. SEC Commissioner Caroline A. Crenshaw issued a statement on Erica Y. Williams’ departure as Chair of the PCAOB, noting her contributions to updating auditing standards and enhancing inspections. The statement highlighted inspections in over 50 jurisdictions, including China, and improvements in the timeliness of firm inspection reports. Crenshaw also acknowledged PCAOB Board Member Botic, who will assume his new role on July 23, 2025.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-07-22United StatesU.S. Securities & Exchange Commission

U.S. Securities and Exchange Commission Commissioner Peirce seeks advice on changes to Regulation A and a finder exemption from broker dealer registration

SEC Commissioner Hester M. Peirce urged the Small Business Capital Formation Advisory Committee to enhance Regulation A and reconsider exemptive relief for "finders" connecting entrepreneurs with investors. Peirce highlighted issues with broker-dealer registration triggers and critiqued the SEC's 2020 proposed exemptive order's two-tier approach. The committee's discussions aim to shape recommendations for the Commission.

Policy & regulationReform agendas & prioritiesCrowdfunding

2025-07-22VietnamState Bank of Vietnam

State Bank of Vietnam appoints leadership and completes restructuring of Regional Branch 14 covering Can Tho and Vinh Long

The State Bank of Vietnam announced organizational and staffing decisions for Regional Branch 14, aligning with new provincial boundaries effective 1 July 2025. The branch, covering Can Tho City and Vinh Long province, will focus on governance, digital transformation, and credit growth with risk control. By end-July 2025, outstanding loans reached over VND 491.7tn, with significant allocations to trade, services, and agriculture.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-07-22VietnamState Bank of Vietnam

State Bank of Vietnam publishes plan to boost Vietnam Bank for Social Policies funding with 30% state budget and 30% government-guaranteed bond targets by 2030

The State Bank of Vietnam released an implementation plan for Directive 39, focusing on enhancing social policy credit through the Vietnam Bank for Social Policies. The plan aims to modernize concessional lending, diversify funding sources, and set targets for state budget and bond funding by 2030. It also includes measures to expand borrower eligibility, prioritize disadvantaged groups, and advance digital banking and risk management.

Policy & regulationImplementation, projects & pilotsOther

2025-07-22VietnamState Bank of Vietnam

State Bank of Vietnam appoints new leadership for Regional Branch 13 and directs banks to expand priority-sector lending

The State Bank of Vietnam announced changes at Regional Branch 13, with Deputy Governor Nguyen Ngoc Canh overseeing management appointments and emphasizing smooth operations. The branch reported a 6.21% increase in outstanding credit, with significant lending to agriculture, rural areas, and SMEs. Supervisory priorities include expanding credit for high-tech agriculture and value-chain projects, maintaining stable interest rates, and advancing digital transformation.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-07-22EgyptCentral Bank of Egypt

Central Bank of Egypt reports narrower current account deficit but balance of payments shifts to USD 1.9 billion deficit on weaker capital inflows

The Central Bank of Egypt reported a 22.6% improvement in the current account deficit for July to March FY 2024/2025, narrowing to USD 13.2 billion. However, the overall balance of payments shifted to a USD 1.9 billion deficit from a USD 4.1 billion surplus, primarily due to a sharp decline in capital and financial account inflows to USD 7.7 billion from USD 20.0 billion, which previously included the USD 15.0 billion Ras El Hekma deal.

Data & statisticsBalance of payments and other external statistics

2025-07-22ParaguayCentral Bank of Paraguay

Central Bank of Paraguay holds policy rate at 6.00%

The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate at 6.00% on 22 July 2025, extending the unchanged stance maintained since January, as strong domestic activity and an upward revision to the 2025 inflation forecast were offset by medium-term inflation expectations that remain aligned with the 3.5% target. The Committee raised its 2025 gross domestic product growth projection to 4.4% from 4.0% and its 2025 inflation forecast to 4.0% from 3.8%, while noting renewed external uncertainty and saying it stands ready to act to ensure compliance with the target over the monetary policy horizon.

Monetary policyPolicy rate decisionsMonetary policy decisions and developments

2025-07-22South KoreaBank of Korea

Bank of Korea publishes June 2025 Producer Price Index showing a 0.1% monthly rise

The Bank of Korea reported preliminary Producer Price Index data for June 2025, indicating a 0.1% month-on-month and 0.5% year-on-year increase in producer prices. Sub-index movements included a 0.6% rise in agricultural, forestry, and marine products, stable manufacturing products, a 0.1% decline in electric power, gas, water, and waste, and a 0.3% increase in services.

Data & statisticsEconomic data and developments

2025-07-22United Arab EmiratesGeneral Pension and Social Security Authority

United Arab Emirates' General Pension and Social Security Authority launches Ma’ashi proactive services for automatic pension registration and contribution alerts

The UAE's General Pension and Social Security Authority, with the Ministry of Human Resources and Emiratisation and the Federal Authority for Government Human Resources, launched the Ma’ashi platform to automate pension processes. It includes automatic registration and notification of contribution obligations, enhancing efficiency and accuracy in pension administration. The platform also facilitates proactive disbursement of insurance benefits and updates data automatically, reducing paperwork and processing times.

Policy & regulationImplementation, projects & pilotsOther

2025-07-22TaiwanCentral Bank of Taiwan

Central Bank of Taiwan reports USD 963.7 billion net turnover in the Taipei foreign exchange market in June 2025

The Central Bank of Taiwan reported June 2025 statistics for the Taipei foreign exchange market, with a total net trading volume of USD 963.7 billion and an average daily turnover of USD 45.9 billion. Customer-related trades comprised 71.2% of the volume, while foreign exchange swaps were the predominant instrument at 50.4%. The New Taiwan dollar against foreign currencies accounted for USD 387.8 billion, primarily NTD/USD at USD 371.9 billion.

Data & statisticsForeign exchange policy and markets

2025-07-22Isle of ManThe Treasury (Isle of Man)

Isle of Man Treasury publicises UK Russia sanctions update adding 137 designations including 135 vessels

The Isle of Man Treasury has updated its Russia sanctions regime, aligning with the UK Sanctions List as of 21 July 2025. The update includes 137 new entries and amendments to two existing entries, imposing asset freezes, trust services sanctions, and shipping sanctions on specified vessels. Institutions are required to freeze relevant assets, avoid unauthorized dealings, and report to the Financial Intelligence Unit.

Policy & regulationRules & requirementsSanctions list update

2025-07-22EuropeEuropean Insurance and Occupational Pensions Authority

European Insurance and Occupational Pensions Authority launches consultations on resolution colleges and reporting templates under the Insurance Recovery and Resolution Directive

The European Insurance and Occupational Pensions Authority (EIOPA) has initiated consultations on draft technical standards to implement the EU’s Insurance Recovery and Resolution Directive, effective 2027. The proposals include criteria for establishing resolution colleges and procedures for insurers' resolution planning submissions. The standards aim to streamline collaboration and reporting, leveraging existing Solvency II processes.

Policy & regulationRules & requirementsRecovery and resolution

2025-07-22United Arab EmiratesDubai International Financial Centre

Dubai International Financial Centre welcomes Gordian Capital plan to establish a presence pending Dubai Financial Services Authority approval

Dubai International Financial Centre announced Gordian Capital's plan to expand to Dubai, establishing a fund platform in the DIFC pending approval from the Dubai Financial Services Authority. The platform aims to replicate Gordian's services in Singapore, Hong Kong, and Tokyo, targeting global firms with a regulated entry pathway. The initiative will leverage Gordian's expertise, managing USD17 billion in assets and over 115 funds for institutional investors.

SupervisionAuthorisations & approvalsLicence approval

2025-07-22United Arab EmiratesDubai International Financial Centre

Dubai International Financial Centre grants Hut 8 Investment Ltd a Commercial Licence for proprietary investment activity

Dubai International Financial Centre has issued a Commercial Licence to Hut 8 Investment Ltd, a subsidiary of Hut 8 Corp, for proprietary investments and certain non-financial activities. This licence aims to enhance Hut 8's capital strategy by facilitating active treasury management of Bitcoin reserves through structured derivatives strategies. The company expects its DIFC presence to improve access to institutional counterparties and products, enable direct trading on global derivatives markets, and reduce trading friction and transaction costs.

SupervisionAuthorisations & approvalsLicence approval

2025-07-21Sierra LeoneMinistry of Finance (Sierra Leone)

Sierra Leone's Ministry of Finance assumes chair of GIABA Ministerial Committee and sets priorities for more effective regional AML/CFT

Sierra Leone’s Finance Minister Ahmed Sheku Fantamadi Bangura is now Chair of the GIABA Ministerial Committee, focusing on combating financial crime in West Africa. At the GIABA meeting in Accra, Bangura emphasized enhanced regional cooperation, targeted capacity-building, and improved intelligence-sharing to tackle cybercrime and illicit financial flows. He stressed moving from technical compliance to demonstrable effectiveness with strong political commitment and policy alignment.

Institutional developmentLeadership change & appointmentsAML and CFTCross-border cooperation

2025-07-21MontenegroCentral Bank of Montenegro

Central Bank of Montenegro and Deutsche Bundesbank agree to deepen capacity-building cooperation aligned with European System of Central Banks standards

The Central Bank of Montenegro (CBCG) and Deutsche Bundesbank discussed enhancing cooperation to strengthen CBCG's capacity for European integration. Key initiatives include a third phase of the regional Instrument for Pre-accession Assistance project and a new twinning project to align Montenegro's regulatory framework with EU standards. The CBCG highlighted progress in European integration, including contributions to negotiation chapters and integration into the Single Euro Payments Area.

Policy & regulationCooperationCapacity buildingCross-border cooperation

2025-07-21AngolaAngola Capital Markets Commission

Angola Capital Markets Commission releases Njila Investor Guide to bolster financial literacy and curb unauthorized investment practices

The Angola Capital Markets Commission released the "Njila Investor Guide" to enhance informed and secure financial decision-making. This initiative supports investor protection and financial literacy amid the proliferation of digital financial content, promoting education and critical engagement with financial information.

Financial literacy & educationFinancial literacy and education

2025-07-21GlobalFinancial Markets Standards Board

Financial Markets Standards Board publishes Spotlight Review expanding its carbon markets update to include compliance schemes

The Financial Markets Standards Board published a Spotlight Review updating its assessment of carbon markets, expanding its 2022 focus on voluntary carbon markets to include compliance markets. The review highlights advances in market design, constraints like market fragmentation, and the need for international cooperation to integrate voluntary and compliance markets into a unified system.

ResearchClimate risk and sustainable finance

2025-07-21ItalyItalian Securities Commission (Consob)

Italian Securities Commission Consob report finds stronger ESG governance and growing climate-related disclosures among Italian listed companies

The Italian Securities Commission (Consob) released its seventh report on non-financial reporting by Italian listed companies, highlighting increased transparency and integration of sustainability into governance. The report notes a shift in financial reporting to include climate-change impacts, with 150 companies on Euronext Milan publishing non-financial statements in 2024. Additionally, 82% of reporters had sustainability committees, and 151 issuers incorporated non-financial factors into CEO pay, with ESG components averaging 18.8% of short-term and 20.6% of long-term variable pay.

SupervisionReviews, inspections & stress testsESGActivity and performance reporting

2025-07-21UkraineUkraine National Commission on Securities and Stock Market

Ukraine National Commission on Securities and Stock Market amends collective investment rules covering asset manager transitions and fund registration filings

The Ukraine National Commission on Securities and Stock Market has amended regulations to address legal gaps in collective investment activities, refining asset management and fund registration processes. Key updates include clarified timelines and actions for asset management company (AMC) transitions, electronic document retention, and agreement processes between AMCs and corporate investment funds. Prospectus registration rules now include additional deadlines and provisions for representative signatures.

Policy & regulationRules & requirementsRegulatory burden

2025-07-21PeruCentral Bank of Peru

Central Reserve Bank of Peru reports 11.8% rise in non-traditional textile exports in January to May

The Central Reserve Bank of Peru reported that non-traditional textile exports reached USD 712 million from January to May, marking an 11.8% increase year-on-year. This growth was driven by a 10.4% rise in export volumes and a 1.2% increase in prices. In May, exports totalled USD 148 million, with notable volume gains in alpaca and llama fibres to China and cotton fabrics to Colombia.

Data & statisticsBalance of payments and other external statistics

2025-07-21AndorraAndorran Financial Authority

Andorran Financial Authority reports Moody’s maintains Andorra’s Baa1 rating with stable outlook

The Andorran Financial Authority announced that Moody’s Ratings has affirmed Andorra’s sovereign rating at Baa1 with a stable outlook, citing strong macroeconomic and institutional fundamentals. Moody’s noted solid economic growth, a fiscal surplus of 2.2% of GDP in 2024, and moderate debt levels. The stable outlook is supported by expectations of sustained fiscal strength and potential economic diversification through an EU Association Agreement.

Data & statisticsCredit ratings

2025-07-21AustraliaAustralian Securities & Investments Commission

Australian Securities & Investments Commission obtains court orders compelling three GFG Alliance companies to lodge overdue annual reports

The Australian Securities & Investments Commission (ASIC) secured Supreme Court orders requiring Liberty Primary Metals Australia, Tahmoor Coal, and Liberty Bell Bay, part of GFG Alliance, to submit overdue reports. Liberty Primary Metals and Tahmoor Coal must file 2024 reports by 22 August 2025, while Liberty Bell Bay must lodge 2021-2023 reports by 3 October 2025 and the 2024 report by 31 October 2025. ASIC stressed timely reporting's importance for informed decision-making by creditors and stakeholders.

EnforcementInvestigations & enforcement actionsAccounting and financial reporting

2025-07-21AustraliaAustralian Securities & Investments Commission

Australian Securities & Investments Commission cancels Lendflex Holdings’ Australian credit licence after missed compliance certificate and key person nomination

The Australian Securities & Investments Commission (ASIC) has cancelled the Australian Credit Licence of Lendflex Holdings Pty Ltd, effective 15 July 2025, due to the firm's failure to lodge its 2024 annual compliance certificate and nominate a Key Person. Lendflex, which held ACL 548515 since September 2023, can seek a review of this decision by the Administrative Review Tribunal.

EnforcementInvestigations & enforcement actionsLicence withdrawal

2025-07-21LatviaMinistry of Finance (Latvia)

Latvia's Ministry of Finance prepares amendments to tighten insurance distribution rules and revise broker supervision fees

Latvia's Ministry of Finance proposes amendments to the Insurance and Reinsurance Distribution Law to enhance supervision and conduct for distributors, aiming to bolster market development, competition, and customer protection. Key changes include updated supervision and professional requirements, clarified registration for brokers and agents, and adjustments to supervisory information submissions. The proposal also addresses increased digital distribution, new EU sustainability rules, and revises the annual supervision fee for brokers due to inflation and resource needs.

Policy & regulationRules & requirementsMarket development

2025-07-21BermudaBermuda Monetary Authority

Bermuda Monetary Authority consults on a tiered licensing and prudential regime for Digital Identity Service Provider businesses

The Bermuda Monetary Authority has released a consultation paper proposing a regulatory framework for licensing and supervising Digital Identity Service Provider Businesses under a new Act. It mandates licensing for identity proofing and authentication, introduces three licence classes, and sets requirements including a Bermuda principal place of business, minimum net asset thresholds, and annual compliance certifications. Civil penalties up to 10 million USD and restrictions on unlicensed use of the term "digital identity service provider business" are also proposed.

Policy & regulationRules & requirementsLicensing framework and process

2025-07-21United KingdomFinancial Conduct Authority

United Kingdom's Financial Conduct Authority publishes motor insurance claims cost review with recommendations to improve affordability

The Financial Conduct Authority (FCA) reviewed the Government’s Motor Insurance Taskforce, noting UK motor insurance premiums have risen due to increased claims costs. Total claims costs rose 34% from 2019 to 2023, driven by higher vehicle values, repair complexities, and labour shortages. The FCA proposes actions to improve affordability, focusing on repair capacity, claims cost control, and fraud deterrence.

ResearchClaims management

2025-07-21United KingdomFinancial Conduct Authority

Financial Conduct Authority publishes multi-firm findings on benchmark administrators’ management of data risks

The Financial Conduct Authority (FCA) released findings from a review of benchmark administrators' data risk management, revealing inconsistent practices undermining a robust control environment. Based on FCA Principles 2 and 3 and the UK Benchmarks Regulation, the review highlighted strong practices like risk-based supplier onboarding and weaknesses such as inadequate management information and governance. The FCA plans further work on benchmark controls and corporate governance in 2025 and 2026.

SupervisionReviews, inspections & stress testsRegulatory reporting

2025-07-21United KingdomFinancial Conduct Authority

Financial Conduct Authority issues supervisory expectations on UK MiFID transaction reporting remediation back reporting and breach notifications

The FCA's July 2025 Market Watch newsletter highlights inefficiencies in UK MiFID transaction reporting. It emphasizes timely, accurate reporting and warns against delays affecting data reliability and market abuse detection. The FCA reviewed breach notifications, noting varying quality and setting best-practice expectations for clearer disclosures.

SupervisionRisk monitoring & watch pointsRegulatory reporting

2025-07-21GreeceMinistry of National Economy and Finance (Greece)

Greece's Ministry of National Economy and Finance tables amendment cutting ATM fees with EUR 1.50 cap and EUR 0.50 remittance fee ceiling

Greece's Ministry of National Economy and Finance proposed amending the draft National Customs Code bill to reduce ATM and bank service fees. Key measures include abolishing the EUR 1.50–2.00 commission for cash withdrawals at DIAS-member ATMs, capping fees at EUR 1.50 for non-DIAS transactions, and eliminating balance inquiry fees. The amendment also introduces a EUR 0.50 fee cap for remittances and ensures free withdrawals in areas with only one ATM.

Policy & regulationRules & requirementsPayments and payment systems

2025-07-21United KingdomFinancial Conduct Authority

Financial Conduct Authority confirms simplified mortgage rules to make term changes and remortgaging easier

The Financial Conduct Authority (FCA) confirmed mortgage rule changes to simplify requirements and increase flexibility, making it quicker and cheaper for borrowers to adjust mortgages. The changes facilitate term shortening, remortgaging for cheaper products, and obtaining advice, while removing outdated guidance to reduce regulatory burden. These measures are part of the FCA's broader Mortgage Rule Review outlined in PS25/11.

Policy & regulationRules & requirementsLending

2025-07-21BoliviaFinancial System Supervisory Authority of Bolivia

Bolivia's Financial System Supervisory Authority clarifies criminal complaint over TikTok claims alleging risks to banks

The Financial System Supervisory Authority of Bolivia (ASFI) clarified its criminal complaint against a citizen for spreading alarmist content on TikTok about bank safety. Filed under Article 491 of Law No. 393, the complaint addresses false information that could undermine confidence in the National Financial System, potentially leading to mass deposit withdrawals. ASFI emphasized safeguarding public savings and urged reliance on official sources.

EnforcementInvestigations & enforcement actions

2025-07-21Hong KongHong Kong Securities & Futures Commission

Hong Kong Securities and Futures Commission secures seven-year director disqualification for former First Credit Finance executive over misleading placement and rights issue disclosures

The Hong Kong Securities and Futures Commission (SFC) secured a Court of First Instance order disqualifying Ms Ho Siu Man, former executive director of First Credit Finance Group Limited, from directorship roles for seven years due to breaches of fiduciary duties. The SFC's investigation revealed Mr Cho Kwai Chee acted as a de facto director and participated in misleading share placements. Proceedings against other former directors of First Credit are ongoing.

EnforcementSanctions & designationsCorporate governance

2025-07-21Hong KongHong Kong Monetary Authority

Hong Kong Monetary Authority issues scam alert over fraudulent website targeting HSBC customers

The Hong Kong Monetary Authority issued a scam alert regarding a fraudulent website linked to The Hongkong and Shanghai Banking Corporation Limited. The HKMA reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals should contact their bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.

SupervisionAlertsFraud and scams

2025-07-21GlobalInternational Association of Insurance Supervisors

International Association of Insurance Supervisors publishes G20 paper with the World Bank on narrowing natural catastrophe insurance protection gaps

The International Association of Insurance Supervisors and the World Bank Group published a paper for the G20 Sustainable Finance Working Group on natural catastrophe protection gaps in emerging markets. It outlines steps for governments, supervisors, and the insurance industry, including capacity building, risk-based frameworks, and solutions like parametric insurance and catastrophe bonds. The IAIS and World Bank will continue developing guidance and tools to help policymakers close these gaps.

Policy & regulationGuidance & interpretationClimate risk and sustainable finance

2025-07-21CyprusCyprus Securities and Exchange Commission

Cyprus Securities and Exchange Commission warns investors that Greymax and Finotive Funding websites are not linked to any authorised investment firm

The Cyprus Securities and Exchange Commission (CySEC) issued a warning that greymax.net and finotivefunding.com are not authorized to provide investment services under Article 5 of Law 87(I)/2017. CySEC advises investors to verify the licensing status of firms on its website before engaging in business.

SupervisionAlertsUnlicensed or unauthorized activity

2025-07-21KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reissues First Heartland Jusan Bank licence after renaming to Alatau City Bank

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reissued the banking licence to Joint Stock Company First Heartland Jusan Bank, now renamed Joint Stock Company Alatau City Bank, to conduct banking operations under Kazakhstan’s banking legislation.

SupervisionAuthorisations & approvalsLicence withdrawal

2025-07-21KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves Gulnara Shamshieva as chair of a second-tier bank’s board of directors

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Gulnara Zhamankulovna Shamshieva as chair of the board of directors of a second-tier bank, as per protocol No. 61/БВУ/Т dated 14 July 2025.

SupervisionAuthorisations & approvalsLeadership change and appointments

2025-07-21ThailandThailand Office of Insurance Commission

Thailand Office of Insurance Commission advances three insurance consumer protection measures including PPMS Phase 2 rollout and planned THB 20 million compulsory motor cover

The Thailand Office of Insurance Commission (OIC) outlined progress on consumer protection, including faster remediation for major loss events, tech-enabled complaints handling, and enhancements to compulsory motor insurance. Key initiatives include raising compulsory motor insurance cover to THB 20 million per accident and launching Phase 2 of the Policyholder Protection Management System. The OIC also plans to expand its Prachinburi road-safety pilot and enhance online insurance services for vulnerable groups.

Policy & regulationImplementation, projects & pilotsConsumer and investor protection

2025-07-21TajikistanNational Bank of the Republic of Tajikistan

National Bank of the Republic of Tajikistan approves Gojo&Company, Inc to acquire 90.71% of Arvand Bank

The National Bank of the Republic of Tajikistan approved Gojo&Company, Inc's acquisition of a 90.71% stake in Closed Joint Stock Company Bank Arvand under the Law on Banking Activity.

SupervisionAuthorisations & approvalsOther

2025-07-21TajikistanNational Bank of the Republic of Tajikistan

National Bank of the Republic of Tajikistan meets newly appointed IMF resident representative and reviews Policy Coordination Instrument cooperation

The National Bank of the Republic of Tajikistan reported on a meeting between its chairman, Firdavs Tolibzoda, and IMF Resident Representative Ghazi Shbaikait, discussing macroeconomic and reform cooperation. They noted positive economic trends and progress under the Policy Coordination Instrument to advance structural reforms. The meeting highlighted over 30 years of IMF support for Tajikistan, with plans to strengthen future cooperation.

Policy & regulationCooperationOther

2025-07-21BrazilBrazilian Superintendence of Private Insurance (SUSEP)

Brazilian Superintendence of Private Insurance publishes outcome assessment on the low uptake of the S4 segment under CNSP segmentation rules

The Brazilian Superintendence of Private Insurance (SUSEP) released a Regulatory Outcome Assessment report on the segmentation framework under National Council of Private Insurance Resolution No. 388/2020, focusing on segment S4. The report highlights that few entities have opted into S4, which offers regulatory exemptions, and uses three indicators to analyze the limited adoption.

Policy & regulationImplementation, projects & pilotsRegulatory burden

2025-07-21United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member Warren seeks FHFA Director Pulte schedule and social media records over posts about Fed Chair Powell

The U.S. Senate Committee on Banking, Housing and Urban Affairs minority released a letter from Ranking Member Elizabeth Warren to FHFA Director Bill Pulte, questioning his social media activity and focus on Federal Reserve Chair Jerome Powell. Warren requested details on Pulte's posts related to Powell, the time spent on social media, and his involvement in efforts to dismiss Powell. She also noted the lack of response to her previous request for deleted posts during Pulte's confirmation.

Policy & regulationOther

2025-07-21PhilippinesCentral Bank of the Philippines

Central Bank of the Philippines requires PRIME XML submission of demand deposit account reconciliation statements from the 31 December 2025 reference period

The Central Bank of the Philippines requires banks and non-banks with quasi-banking functions to submit Demand Deposit Account Reconciliation Statements in XML via the Prudential Reporting Innovation and Monitoring Engine (PRIME). A parallel run starts 30 June 2025, with live submissions beginning 31 December 2025, replacing previous methods. The guidelines outline process expectations and supersede earlier memoranda from February and August 2022.

SupervisionRegulatory reporting

2025-07-21BrazilBrazilian Pension Funds Authority (PREVIC)

Brazilian Pension Funds Authority PREVIC integrates 30 CPNU recruits into technical departments after 105-hour induction

The Brazilian Pension Funds Authority (PREVIC) has integrated 30 new civil servants from the 2024 Unified National Public Service Examination into its technical areas after a six-week induction. The program included 105 classroom hours on PREVIC operations and pension fund legal frameworks, with input from the Ministry of Social Security, Abrapp, and Anapar. PREVIC outlined priorities such as staff training, technology modernization, and workforce strengthening, with plans for further recruitment in 2026.

Institutional developmentWorkforce & recruitmentHiring and recruitment

2025-07-21Brunei DarussalamCentral Bank of Brunei Darussalam

Central Bank of Brunei Darussalam launches survey on digital payment usage to inform the 2026–2030 Digital Payment Roadmap

The Central Bank of Brunei Darussalam, in collaboration with several banks, is conducting a public survey to inform the Digital Payment Roadmap (2026–2030). The survey aims to gather insights on digital payment usage, preferences, and challenges, with distribution online and in person. Responses will remain confidential, collecting only demographic data, and the public is cautioned against impersonation attempts.

Policy & regulationImplementation, projects & pilotsPayments and payment systems

2025-07-21VietnamVietnam State Securities Commission

Vietnam State Securities Commission sets VND 1,000,000 fee and payment process for reissued securities practitioner certificates

The Vietnam State Securities Commission has instructed individuals listed in a notice to pay a re-issuance fee of VND 1,000,000 for a securities practitioner certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to pay and collect the certificate within one year will result in cancellation.

SupervisionAuthorisations & approvalsLicensing and supervisory fees

2025-07-21VietnamVietnam State Securities Commission

Vietnam State Securities Commission hosts risk management training for securities companies with Singapore Exchange experts

The Vietnam State Securities Commission held a training programme on risk management for securities companies, focusing on legal frameworks and strategies amid rapid market growth. The programme featured contributions from Tan Boon Gin of the Singapore Exchange and covered financial, liquidity, and operational risks. Vice Chair Ha Duy Tung highlighted the VN-Index's growth and surpassing investor account targets.

Policy & regulationImplementation, projects & pilots

2025-07-21SingaporeMonetary Authority of Singapore

Monetary Authority of Singapore appoints first EQDP asset managers with SGD 1.1 billion mandate and expands equity research and listings grants while preparing investor recourse consultation

The Monetary Authority of Singapore appointed Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management under its SGD 5 billion Equity Market Development Programme, with an initial SGD 1.1 billion allocation. MAS also committed SGD 50 million to enhance the Grant for Equity Market Singapore Scheme, increasing funding for equity research and supporting a broader listed product ecosystem. Consultations will address investor compensation mechanisms and legal action facilitation, with a final report expected by end-2025.

Policy & regulationImplementation, projects & pilotsMarket development

2025-07-21BrazilBrazil Securities Commission (CVM)

Brazil Securities Commission to judge sanctioning case against PwC and auditor Claudia Miranda over alleged breaches of Brazilian auditing standards

The Brazil Securities Commission (CVM) will hold a judgment session on Administrative Sanctioning Proceeding 19957.010029/2021-61 to evaluate PriceWaterhouseCoopers Auditores Independentes Ltda. and Claudia Eliza Medeiros de Miranda for alleged non-compliance with Brazilian audit standards. The case involves audit work for a Real Estate Investment Fund for the year ending 31 December 2018, potentially breaching Article 20 of CVM Instruction 308. The public session is on 22 July, with provisions for electronic voting if necessary.

EnforcementInvestigations & enforcement actionsAuditing

2025-07-21MalaysiaMalaysia Securities Commission

Malaysia Securities Commission reports MyCIF has reached MYR 1.19 billion in co-investments and sets out Budget 2025 Islamic risk-sharing incentives

The Malaysia Securities Commission reported that the Malaysia Co-Investment Fund (MyCIF) surpassed MYR 1 billion in total co-investments, reaching MYR 1.19 billion by the end of 2024. The fund, supporting over 9,500 micro, small, and medium enterprises (MSMEs), attracted 4.1 times private sector funding for each ringgit invested. Under Budget 2025, MyCIF plans to allocate MYR 40 million to promote Islamic risk-sharing financing through equity crowdfunding and peer-to-peer platforms.

Policy & regulationImplementation, projects & pilotsSME financing

2025-07-21GuernseyGuernsey Financial Services Commission

Guernsey Financial Services Commission launches public survey on motor finance ahead of thematic conduct review

The Guernsey Financial Services Commission launched a public survey to gather experiences with motor finance since 1 July 2023, following the regulation of loans and consumer credit products under the Lending, Credit and Finance Law. The survey aims to identify trends for a thematic review on conduct risks in the motor finance sector, assessing customer treatment and compliance with new requirements. Results will contribute to a review planned for later this summer, with conclusions expected early next year.

SupervisionReviews, inspections & stress testsConsumer and investor protection

2025-07-21GuernseyGuernsey Financial Services Commission

Guernsey Financial Services Commission notifies firms of corrected UK cyber sanctions entries for Main Centre for Special Technologies and 85th Main Special Service Centre

The Guernsey Financial Services Commission issued a cyber sanctions notice correcting entries for two entities on the consolidated list, which remain subject to an asset freeze under the UK Cyber (Sanctions) (EU Exit) Regulations 2020. Businesses must verify relationships with these entities, ensure associated assets are frozen, and report findings to the States of Guernsey Policy and Resources Committee. Firms must also notify the Commission and submit a report under Handbook Rule 12.37 if an affected relationship is identified.

EnforcementSanctions & designationsSanctions list update

2025-07-21GuernseyGuernsey Financial Services Commission

Guernsey Financial Services Commission issues Russia sanctions notice on four new UK designations

The Guernsey Financial Services Commission issued a Russia sanctions notice designating four individuals and entities under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, effective in Guernsey. Firms must apply asset freezes, report findings to the States of Guernsey Policy & Resources Committee, and comply with reporting and funds-availability prohibitions. The designated parties include Artyom Sergeevich Kureyev, Anna Sergeevna Zamaraeva, Victor Aleksandrovich Lukovenko, and African Initiative.

Policy & regulationGuidance & interpretationNew sanctions designations

2025-07-21GuernseyGuernsey Financial Services Commission

Guernsey Financial Services Commission lists UK cyber sanctions designees now subject to an asset freeze in Guernsey

The Guernsey Financial Services Commission issued a cyber sanctions notice designating 18 individuals and the 161st Specialist Training Centre under the UK's Cyber (Sanctions) (EU Exit) Regulations 2020, subjecting them to an asset freeze in Guernsey. Businesses must verify relationships with these designees, freeze related assets, and report findings to the States of Guernsey Policy & Resources Committee. Compliance with reporting requirements and notification to the Commission under Handbook Rule 12.37 is mandatory.

Policy & regulationGuidance & interpretationNew sanctions designations

2025-07-21PhilippinesPhilippine Securities and Exchange Commission

Philippine Securities and Exchange Commission highlights CMEPA tax incentives including a new PERA employer deduction and a 0.1% stock transaction tax

The Philippine Securities and Exchange Commission announced Republic Act No. 12214, the Capital Markets Efficiency Promotion Act, introducing tax measures to boost Personal Equity and Retirement Account (PERA) participation and reduce capital market costs. Changes include a 50% tax deduction for employers matching PERA contributions, a stock transaction tax reduction to 0.1%, and a documentary stamp tax cut on share issuance to 0.75%. The law standardizes the final withholding tax on interest income at 20% and sets a 15% capital gains tax on foreign corporation shares.

Policy & regulationRules & requirementsOther

2025-07-21PhilippinesPhilippine Securities and Exchange Commission

Philippine Securities and Exchange Commission warns public about job offer scams using a tasking and recharging scheme

The Philippine Securities and Exchange Commission issued a warning about "job offer scams" targeting jobseekers through messaging platforms like Viber, Messenger, and Telegram. Scammers entice victims with paid tasks on a fake e-commerce platform, requiring initial deposits that escalate to unlock higher-paying tasks. Victims face demands for further deposits upon withdrawal attempts, leading to financial loss when operators vanish.

SupervisionAlertsFraud and scams

2025-07-21GlobalWorld Federation of Exchanges

World Federation of Exchanges research maps governance and local conditions shaping ESG progress across 66 exchanges

The World Federation of Exchanges published research on ESG progress at exchanges, highlighting governance as the primary focus, with 39% of ESG efforts, especially in jurisdictions with high literacy and low corruption. The study notes increased regulatory pressure since 2017 and a rise in sustainability-linked products, with 86% of exchanges offering them in 2023, driven by sustainability concerns, reputational motivations, and cultural and environmental factors.

ResearchESG

2025-07-21KosovoCentral Bank of the Republic of Kosovo

Central Bank of the Republic of Kosovo discusses SEPA preparation and the TIPS Clone fast payments project with Hungary’s new ambassador

The Central Bank of the Republic of Kosovo hosted Hungary’s Ambassador for discussions on financial sector developments, including legal reforms and system resilience. Governor Ahmet Ismaili highlighted preparations for joining the Single Euro Payments Area (SEPA) and progress on the "TIPS Clone" fast payments system. The meeting also addressed internal reforms and cooperation to align Kosovo’s legal framework with European Union standards.

Policy & regulationCooperationDomestic cooperation

2025-07-21NigeriaNigeria National Insurance Commission

Nigeria National Insurance Commission holds capacity-building workshop on Group Life Assurance Policy with the civil service office

The Nigeria National Insurance Commission and the Office of the Head of the Civil Service of the Federation conducted a workshop in Abuja to enhance understanding of the Group Life Assurance Policy in the federal public sector. The event emphasized insurance as a means to protect public servants' welfare and ensure financial security for their families.

Policy & regulationImplementation, projects & pilotsOther

2025-07-21NigeriaNigeria National Insurance Commission

Nigeria's National Insurance Commission convenes 4th joint committee meeting on insurance for public buildings and buildings under construction

Nigeria's National Insurance Commission (NAICOM) held the fourth meeting of the Joint Committee on Insurance for Public Buildings and Buildings Under Construction to assess implementation progress and challenges. Chaired by Deputy Commissioner Ekerete Ola Gam-Ikon, the meeting introduced new members from the quantity surveying profession and discussed extending enforcement from third-party motor insurance to public buildings, emphasizing coordination with other regulators.

Policy & regulationImplementation, projects & pilotsOther

2025-07-21NigeriaNigeria National Insurance Commission

Nigeria National Insurance Commission convenes Nigeria–Ghana stakeholder engagement on marine cargo insurance practices

Nigeria’s National Insurance Commission held a meeting in Lagos with Nigerian and Ghanaian stakeholders to exchange experiences on marine cargo insurance and explore collaboration opportunities. Participants discussed technical aspects in Nigeria, including port safety, policy terms, and claims processes. Ghana's delegation noted the insights would aid in implementing Ghana's new marine insurance policy.

Policy & regulationCooperationCross-border cooperation

2025-07-21ThailandThailand Securities & Exchange Commission

Thailand Securities & Exchange Commission revokes investment consultant approval for 10 years over THB 15.1 million client asset misappropriation

The Thailand Securities & Exchange Commission revoked Ms. Usa Pullkerd’s approval as a general investment consultant and imposed a 10-year ban on future applications, effective 22 July 2025, due to misconduct at Bangkok Bank Public Company Limited. The misconduct involved unauthorized withdrawals from a client's account, resulting in losses of THB 15.1 million. The SEC emphasized regular account reviews and cautioned against pre-signing transaction documents.

EnforcementSanctions & designations

2025-07-21ThailandThailand Securities & Exchange Commission

Thailand Securities and Exchange Commission urges GRAND bondholders to review waiver requests and collateral term changes ahead of 24 July meeting

The Thailand Securities and Exchange Commission urged bondholders of five bond series by Grande Asset Hotels and Property Public Company Limited to review information and vote at e-meetings on 24 July 2025. The meetings will address waivers for covenant breaches and amendments to collateral terms, including valuation and review changes. Bondholders are advised to consider the representative's assessment of potential impacts and seek further information before voting.

SupervisionInterventionsCorporate governance

2025-07-21GlobalFinancial Markets Standards Board

Financial Markets Standards Board publishes Spotlight Review on carbon markets and highlights fragmentation barriers to scaling

The Financial Markets Standards Board published a Spotlight Review updating its 2022 analysis on voluntary carbon markets and expanding it to compliance carbon markets. It highlights ongoing progress but notes structural challenges hindering market scalability. The review emphasizes increased coverage and tighter emissions caps in compliance schemes, improved certification in voluntary markets, and the need for international cooperation to address market fragmentation and credit non-fungibility.

ResearchClimate risk and sustainable finance

2025-07-21EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority discusses training partnership with the Chartered Insurance Institute and prudential supervision cooperation with the Bank of England

The Egypt Financial Regulatory Authority (FRA) held discussions in London with the Chartered Insurance Institute and Sam Woods, Deputy Governor of the Bank of England, to explore cooperation on training and qualifications. The FRA aims to enhance market stability through professional certifications and leadership programs and outlined its supervisory approach for non-banking financial institutions. Additionally, the FRA referenced the Unified Insurance Law No. 155 of 2024, mandating staged increases in insurers' capital and setting investment and reporting rules.

Policy & regulationCooperationDomestic cooperation

2025-07-21ChileCentral Bank of Chile

Central Bank of Chile starts distribution of 30 million centenary special edition CLP 100 coins

The Central Bank of Chile has begun the gradual rollout of a special edition CLP 100 coin featuring its centenary logo, with 30 million coins to be issued through commercial banks. The coin retains the same physical characteristics as the current bimetallic CLP 100 coin, with changes to the obverse design. Both the special edition and existing coins will circulate alongside the larger monometallic CLP 100 coin.

Monetary policyMonetary policy instruments & operationsOther

2025-07-21United StatesFederal Deposit Insurance Corporation

United States Federal Deposit Insurance Corporation, Federal Reserve Board and Office of the Comptroller of the Currency open fourth EGRPRA comment round to reduce regulatory burden

The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a fourth notice requesting public comment to reduce regulatory burden under the Economic Growth and Regulatory Paperwork Reduction Act. The notice seeks input on Banking Operations, Capital, and the Community Reinvestment Act as part of a 12-category review. The agencies will hold outreach meetings to gather feedback from interested parties.

Policy & regulationImplementation, projects & pilotsRegulatory burden

2025-07-21United StatesFederal Reserve Board

Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency open fourth EGRPRA comment round on Banking Operations, Capital and Community Reinvestment Act rules

The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency issued a fourth notice seeking public comment on reducing regulatory burdens under the Economic Growth and Regulatory Paperwork Reduction Act. The agencies are focusing on Banking Operations, Capital, and the Community Reinvestment Act, with comments open for 90 days. Outreach meetings will be held to gather direct feedback.

Policy & regulationRules & requirementsRegulatory burden

2025-07-21ChileChile Financial Market Commission

Chile Financial Market Commission raises fees for enrolment rights approvals and certifications

Chile's Financial Market Commission, under Law No. 21,755, has raised fees for enrolment rights, approvals, and certifications. The updated amounts are detailed in the Commission's List of Procedures Subject to Fees.

Policy & regulationRules & requirementsLicensing and supervisory fees

2025-07-21United StatesU.S. Securities & Exchange Commission

U.S. Securities & Exchange Commission to host September 18 roundtable on Reg NMS trade-through prohibitions

The U.S. Securities & Exchange Commission will hold a public roundtable on 18 September 2025 to discuss trade-through prohibitions in the National Market System stock and listed options markets. The event will be streamed live from the SEC’s Washington, D.C. headquarters, with public comments invited for the roundtable record.

Policy & regulationGuidance & interpretationTrading

2025-07-21United StatesU.S. Securities & Exchange Commission

U.S. Securities and Exchange Commission designates George R. Botic as acting PCAOB chair effective July 23, 2025

The U.S. Securities and Exchange Commission has appointed George R. Botic as Acting Chair of the Public Company Accounting Oversight Board (PCAOB) effective July 23, 2025, following Erica Y. Williams' resignation. Botic, a Certified Public Accountant and PCAOB Board Member since October 2023, previously led the PCAOB’s Division of Registration and Inspections.

Institutional developmentLeadership change & appointmentsAccounting and financial reporting

2025-07-21VietnamState Bank of Vietnam

State Bank of Vietnam's Regional Branch 8 reviews merged-branch rollout and reports VND 547 trillion deposits and VND 632 trillion credit

The State Bank of Vietnam’s Regional Branch 8 reviewed its first half of 2025, following its formation from the merger of several branches and remit expansion. The branch oversaw 285 units, with deposits and outstanding credit rising by 10.59% and 8.03%, respectively. Priorities for the second half include enhancing IT application and maintaining full digitisation of administrative procedures.

SupervisionSupervision approach, priorities & toolkitOperational excellence

2025-07-21CanadaBank of Canada

Bank of Canada introduces CSCE indicator and reports a second-quarter decline as tariff uncertainty weakens spending intentions

The Bank of Canada's Q2 2025 Canadian Survey of Consumer Expectations introduced a new indicator summarizing consumer views on spending, the labour market, and personal finances. The indicator declined for a second consecutive quarter due to tariff threats and uncertainty impacting spending intentions. Despite stable short-term inflation expectations, consumers anticipate higher motor vehicle prices and cite tariffs as a key factor affecting inflation control.

Data & statisticsEconomic data and developments

2025-07-21CanadaBank of Canada

Bank of Canada reports tariffs still weighing on firms in second-quarter 2025 Business Outlook Survey as inflation expectations ease

The Bank of Canada's Q2 2025 Business Outlook Survey shows tariffs and trade uncertainty still affect firms' outlooks, though worst-case scenarios are less likely. Sales expectations remain pessimistic, with cautious hiring and investment plans, while short-term inflation expectations have decreased to late 2024 levels. Business sentiment has improved, with fewer firms anticipating a recession, but sectors facing US tariffs, like steel, aluminum, and auto, continue to experience weakness.

Data & statisticsEconomic data and developments

2025-07-21United StatesOffice of the Comptroller of the Currency

United States Federal Deposit Insurance Corporation, Federal Reserve Board and Office of the Comptroller of the Currency seek further EGRPRA comments on banking operations, capital and Community Reinvestment Act regulations

The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a fourth notice seeking public comment to reduce regulatory burden under the Economic Growth and Regulatory Paperwork Reduction Act. The agencies are focusing on Banking Operations, Capital, and the Community Reinvestment Act. Outreach meetings will be held to gather direct feedback.

Policy & regulationRules & requirementsRegulatory burden

2025-07-21ChinaChina Securities Regulatory Commission

China Securities Regulatory Commission streamlines inheritance of deceased investors’ small brokerage and mutual fund holdings up to CNY 50,000

The China Securities Regulatory Commission has simplified the process for heirs to inherit small-value assets from deceased investors held with securities companies, public fund managers, and fund sales institutions. The framework includes a capped "small estate" pathway, documentation requirements, and options for asset transfer or liquidation, with eligibility limited to onshore natural persons related to the deceased. Effective 25 July 2025, the measures exclude overseas individuals and allow the CSRC to adjust the CNY 50,000 threshold over time.

Policy & regulationRules & requirementsOther

2025-07-21ChinaChina Banking and Insurance Regulatory Commission

China Banking and Insurance Regulatory Commission warns consumers about “professional debt-bearer” loan fraud schemes

The China Banking and Insurance Regulatory Commission issued a consumer alert on scams involving "professional debt-bearers" promising quick wealth and claiming loans won't need repayment. The alert warns of false marketing and forged documents, emphasizing legal liabilities and potential criminal exposure for participants. Consumers are urged to protect their credit, avoid informal services, and report suspicious activities, as authorities crack down on illegal financial networks.

SupervisionAlertsFraud and scams

2025-07-21ArgentinaArgentina Superintendency of Insurance

Argentina Superintendency of Insurance confirms timely claims verification deadline has expired in Boston Compañía Argentina de Seguros judicial liquidation

The Argentina Superintendency of Insurance announced the expiration of the 18 July 2025 deadline for creditors to file timely claims in the judicial liquidation of Boston Compañía Argentina de Seguros S.A. Creditors who missed the deadline may pursue late verification through an incidental filing in the ongoing case before the National Commercial Court of First Instance No. 25.

SupervisionOtherRecovery and resolution

2025-07-21IndiaSecurities & Exchange Board of India

Securities and Exchange Board of India lodges cyber police complaint over Navbharat advertisement promoting illegal dabba trading

SEBI has taken action following an ad promoting illegal "dabba trading" in Navbharat. SEBI raised concerns with Navbharat, filed a cyber police complaint, and referred the issue to the Advertising Standards Council of India for potential violations. The National Stock Exchange also warned investors to trade only through SEBI-registered brokers and on recognized exchanges.

EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity

2025-07-21IndiaSecurities & Exchange Board of India

Securities and Exchange Board of India says Jane Street interim directions will cease after escrow of INR 4,843,57,70,168 is created

SEBI clarified that interim directions from its July 3, 2025 order on alleged index manipulation by the Jane Street group will cease once entities comply with the escrow requirement of INR 4,843,57,70,168. SEBI reiterated that entities must avoid fraudulent practices, with stock exchanges monitoring Jane Street's activities until the investigation concludes. Compliance with these directives has been confirmed by the entities and exchanges.

EnforcementInvestigations & enforcement actionsMarket abuse

2025-07-21IndiaSecurities & Exchange Board of India

Securities and Exchange Board of India introduces NSE-hosted common compliance reporting platform for stock brokers

The Securities and Exchange Board of India, with stock exchanges, has launched Samuhik Prativedan Manch, a tech platform by the National Stock Exchange of India for unified compliance reporting by stock brokers. This aims to reduce compliance costs by eliminating the need for brokers to file identical reports with multiple exchanges. Phased implementation begins on August 1, 2025, initially covering 40 compliance reports for about 990 brokers.

Policy & regulationImplementation, projects & pilotsRegulatory reporting

2025-07-21MoldovaNational Bank of Moldova

National Bank of Moldova reports June 2025 FX coverage ratio drops to 78.1% and records net EUR 29.1m interbank sales

In June 2025, the National Bank of Moldova reported that net foreign currency supply from individuals covered 78.1% of economic agents' demand, down from 86.4% in May, prompting the bank to sell EUR 29.1 million in the interbank market. Net supply from individuals rose by EUR 11.0 million to EUR 272.8 million, while demand from economic agents increased by EUR 46.1 million to EUR 349.1 million. The leu-euro exchange rate rose by 0.7% to 19.6668 MDL per EUR.

Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics

2025-07-21MoldovaNational Bank of Moldova

National Bank of Moldova drafts green finance taxonomy with IFC support ahead of public consultation

The National Bank of Moldova, supported by the International Finance Corporation, is developing a sustainable finance taxonomy to align with EU accession commitments. This taxonomy classifies environmentally sustainable activities to direct investment towards projects supporting environmental protection and resource efficiency. A preliminary version has been discussed with stakeholders, and the draft will be refined and finalized as a normative act for public consultation.

Policy & regulationRules & requirementsGreen taxonomy

2025-07-21MoldovaNational Bank of Moldova

National Bank of Moldova reports June 2025 cash foreign exchange turnover of EUR 432.8 million

The National Bank of Moldova released June 2025 cash foreign exchange market statistics, showing a total turnover of EUR 432.8 million, a 2.2% increase from May. The euro dominated with EUR 313.3 million, while the US dollar accounted for EUR 76.2 million. Compared to June 2024, overall turnover rose 2.3%, with euro turnover up 11.7% and US dollar turnover down 19.6%.

Data & statisticsCurrency and cash management

2025-07-21MoldovaNational Bank of Moldova

National Bank of Moldova publishes June 2025 banking system foreign currency position data showing MDL 50.49bn in assets and MDL 50.24bn in liabilities

The National Bank of Moldova released June 2025 data on licensed banks' foreign currency assets and liabilities, showing total foreign currency assets at MDL 50.49 billion and liabilities at MDL 50.24 billion. Major asset components included foreign currency liquidity and loans, while liabilities were dominated by client current accounts and term deposits. The gross long open foreign exchange position was MDL 467.86 million, with regulatory capital at MDL 21.81 billion.

Data & statisticsCurrency and cash managementSupervisory data

2025-07-21United StatesU.S. Department of the Treasury

U.S. Department of the Treasury calls for an interagency reset of financial regulation and urges regulators to drop the dual capital requirement approach

Treasury Secretary Scott Bessent outlined a strategic, whole-of-government approach for U.S. financial regulatory policy, emphasizing reforms beyond incremental measures, focusing on Main Street and community banks, and opposing debanking based on political or religious views. Key actions include recalibrating leverage capital requirements, modernizing the regulatory capital framework, and aligning illicit finance policy with national security priorities. Treasury plans interagency consultations to define strategic policy direction and address deficiencies in the capital framework.

Policy & regulationReform agendas & prioritiesCapital adequacy

2025-07-21United StatesU.S. Department of the Treasury

U.S. Department of the Treasury’s FinCEN to delay investment adviser AML rule effective date to 2028 and revisit scope

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) plans to delay the effective date of its anti-money laundering and countering the financing of terrorism (AML/CFT) rule for investment advisers from January 1, 2026, to January 1, 2028. This postponement aims to better tailor the rule to the sector's diverse business models and ease compliance costs. FinCEN will issue exemptive relief and revisit the rule's scope and related customer identification program requirements with the SEC.

Policy & regulationRules & requirementsAML and CFT

2025-07-21Isle of ManThe Treasury (Isle of Man)

Isle of Man Treasury launches sanctions awareness presentation to support sanctions compliance

The Isle of Man Treasury has introduced a Sanctions Awareness presentation to aid industry understanding of sanctions compliance, accessible via YouTube and the government sanctions website. The presentation explains the basics of sanctions, website navigation for relevant information, and offers practical compliance tips.

Policy & regulationGuidance & interpretationSanctions list update

2025-07-21United Arab EmiratesCentral Bank of the UAE

Central Bank of the UAE imposes AED 800,000 financial sanction on an exchange house for ML CFT compliance failures

The Central Bank of the UAE imposed a financial sanction of AED 800,000 on an exchange house for non-compliance with anti-money laundering and counter-terrorist financing policies. This action, under Article (137) of Decretal Federal Law No. (14) of 2018, aligns with the CBUAE's mandate to enforce compliance with UAE laws and standards.

EnforcementSanctions & designationsNew sanctions designations