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2025-07-16•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, arrested two individuals suspected of money laundering and operating an illegal cryptoasset exchange. The operation involved searches in southwest London and the seizure of seven crypto ATMs. The FCA emphasized the illegality of unregistered cryptoasset exchanges and ATMs in the UK and the criminality of non-compliance with money laundering regulations.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-16•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond reported on the FedNow Service's second year, noting over 1,400 participants and growth in transaction volumes. New developments include a request-for-payment capability and features for healthcare payments. FedNow has introduced risk-management tools like account activity thresholds and net send limits to manage liquidity and fraud risk.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-16•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued guidance for insurers to manage risky or complex investments per the Solvency II prudent person principle. Insurers must identify, measure, and manage risks, especially for non-traditional assets. Reviews will focus on holdings under specific CIC codes, and insurers should align investment strategies with their business models and risk appetites.
Policy & regulationGuidance & interpretationOther
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2025-07-16•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission's Asset and Wealth Management Activities Survey 2024 reported a 13% increase in assets under management to HKD 35.1 trillion, driven by net fund inflows of HKD 705 billion. Private banking and wealth management assets grew 15% to HKD 10.4 trillion, while Hong Kong-domiciled funds saw a 22% rise in net asset value to HKD 1.64 trillion by end-2024 and a further 21% increase to HKD 1.99 trillion by May 2025. The survey highlighted growth in non-equity investments, Mainland-related firms, and Type 9 licensees.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-16•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has banned Tong Ho Yin, former responsible officer of HF Asset Management Limited, from the industry for nine years and fined him HKD 350,000. This enforcement action follows findings of mismanagement and conflicts of interest in loan and stock lending arrangements, resulting in losses of HKD 25.6 million. The fine was reduced from HKD 700,000 due to Tong's financial position.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-16•Global•World Bank
The World Bank Group's Global Findex 2025 report highlights accelerated financial inclusion and formal saving in low- and middle-income economies, driven by mobile financial services. In 2024, 40% of adults in developing economies saved in a financial account, with mobile-money account usage for saving reaching 10%. The report also notes a narrowing gender gap in account ownership and increased digital merchant payments, while identifying security gaps in mobile protection.
Data & statisticsFinancial inclusion
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2025-07-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Deposit Protection Board's 2024-2025 Annual Report highlights the successful implementation of enhancements to the Deposit Protection Scheme, completed in two phases. Public promotion efforts increased awareness and confidence in the new protection limit of HKD 800,000.
Other
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2025-07-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites, fake internet banking login screens, and phishing emails linked to The Bank of East Asia, Dah Sing Bank, and The Hongkong and Shanghai Banking Corporation. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS.
SupervisionAlertsFraud and scams
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2025-07-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued licences to Amaranth Capital JSC and Centras Securities JSC, authorizing them to conduct banking operations in foreign currency. The licences, numbered 3.4.4 and 3.4.5, were granted under Deputy Chair orders No. B-184 and No. B-185.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan appointed Konstantin Saroyan as an independent director on the Board of Directors of Kazakhstan Stock Exchange JSC.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to the Haiti financial sanctions regime, directing firms to the Isle of Man Treasury's resources for current sanctions notices. The update also suggests using notification tools like an RSS feed and the UK Treasury email alert service for timely updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority's July 2025 update outlines policy work, supervisory priorities, and guidance, including efforts to enhance the insurance sector's competitiveness and new sustainable finance guidance. It details a two-year supervisory engagement programme and highlights strong responses to data requests from trust and corporate service providers. The update also notes progress on the National Risk Assessment, AML/CFT Handbook revisions, and upcoming outreach activities, including the Countering Financial Crime Conference in September.
Policy & regulationOtherClimate risk and sustainable finance
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2025-07-16•United States•Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland President Hammack delivered a keynote speech titled “The Cleveland Fed’s Excellent Community Development Adventure” at Cuyahoga County Community College’s Corporate College 20-Year Anniversary Celebration.
Other
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2025-07-16•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan met with the Central Bank of Malaysia to discuss licensing, supervision, and regulation of Islamic banks, including Shariah compliance and liquidity management. The meeting included exchanges on regulatory reforms and internal documents, concluding with an agreement to enhance cooperation through knowledge sharing.
Policy & regulationCooperationCross-border cooperation
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2025-07-16•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission highlighted Secretary-General Chuchat Pramoolpol’s remarks at the MDRT DAY 2025 seminar, emphasizing the role of life insurance agents and financial advisers in maintaining trust and professional standards. The Office is advancing modern supervisory approaches and public initiatives, including the OIC InsurTech Award and the Responsible Voice programme, to enhance insurance innovation and communication.
SupervisionSupervision approach, priorities & toolkitOther
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2025-07-16•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) reported a 15% decrease in consumer complaints in Puebla from January to April 2025, with 3,116 cases. The commission recovered MXN 40.4 million for users, a 9.5% decline year on year. Credit cards, debit cards, and personal loans were the most complained-about products, with banking accounting for 63.5% of complaints, and 44.3% linked to potential fraud.
Data & statisticsComplaints and dispute resolution
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2025-07-16•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) announced that 2,217 associations registered under Complementary Law No. 213/2025 by the 15 July 2025 deadline, allowing them to continue operations while completing legal regularisation. Unregistered entities are considered irregular and may face legal consequences. Full regularisation requires a service agreement with a SUSEP-authorised administrator, pending approval of implementing regulations.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren warned that strong headline indicators obscure worsening affordability and financial fragilities, citing wage stagnation and rising household costs. She criticized recent tariff changes, a USD 4 trillion tax policy, and financial deregulation for increasing economic risks and delaying interest-rate cuts. Warren advocated for an "affordability agenda" focusing on domestic investment, strengthened bank oversight, and expanded federal investment in housing, child care, education, and health care.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsMonetary policy decisions and developments
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs highlighted Ranking Member Elizabeth Warren's warning that President Donald Trump's tariffs, tax cuts, and deregulation could lead to an economic crash akin to 2008. Warren argued these policies risk increasing consumer prices, tightening credit, and weakening regulatory safeguards, while rising U.S. debt raises concerns about economic stability. She proposed an agenda focused on investments in housing, education, health care, and childcare, funded by reversing corporate tax incentives.
Policy & regulationReform agendas & prioritiesMarket risk and volatility
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren criticized President Trump for allegedly seeking a pretext to remove Federal Reserve Chair Jerome Powell by focusing on the central bank’s renovation spending. Warren suggested addressing tariff policy, not threats to the Fed's leadership, to lower interest rates. She reaffirmed her support for Fed transparency and accountability, warning that Powell's removal could destabilize markets.
OtherMonetary policy decisions and developments
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2025-07-16•Philippines•Central Bank of the Philippines
The Bangko Sentral ng Pilipinas has revised its rules on disqualification and watchlisting for directors and officers of banks and non-bank financial institutions. The amendments introduce permanent disqualification for individuals who voluntarily abstain from participating in BSP-supervised institutions and outline procedures for final court convictions. Disqualified individuals will be included in the Bangko Sentral Watchlist Files and, upon Monetary Board approval, recorded in Disqualification File A (Permanent).
Policy & regulationRules & requirementsCorporate governance
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2025-07-16•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued a circular letter detailing approved applications for 48 new banking offices and 49 openings during Q1 2025. BDO Network Bank led approvals with 27 locations, followed by Security Bank and BDO Unibank. The disclosure includes universal, commercial, thrift, rural, and cooperative banks, covering regular branches, branch-lite units, and specialized formats.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has revised the implementation timeline for prudential standards under the Deposit Takers Act 2023, with standards to be issued by 31 May 2027 and effective from 1 December 2028. The timeline adjustment allows for a review of key capital settings, and the Bank has modified proposals to support a proportionate approach and enhance competition following consultation feedback.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-07-16•Romania•Romanian Financial Supervisory Authority
The Romanian Financial Supervisory Authority authorized decisions for non-bank financial markets, including insurance, capital markets, and private pensions. Key approvals include board and executive appointments for insurers, a new alternative investment fund manager, and changes to fund statutes and ownership structures. The Council also approved Delfin S.a.r.l.'s acquisition project for an indirect qualifying holding in Generali România Asigurare Reasigurare S.A.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Monetary Board revoked the BSP registrations of Prince Rockwell Money Changer Corporation, Kings Hopewell Group Corp., and World Reliance Trading Corp. due to serious violations, including breaches of anti-money laundering requirements. The cancellations were based on Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions. Requests for reconsideration by the entities were denied with finality.
EnforcementInvestigations & enforcement actionsForeign exchange policy and markets
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2025-07-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) is consulting on a draft rule to amend its credit rating framework, aligning it with international standards and enabling CVM-registered agencies to serve Brazilian issuers targeting foreign investors. Key proposals include recognizing ratings outlooks, enhancing transparency and governance, adjusting pricing policies, and managing conflicts of interest. This consultation is part of the CVM’s 2025 Regulatory Agenda.
Policy & regulationRules & requirementsCredit ratings
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2025-07-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Resolution CVM 233 to amend its bylaws, enhancing alignment on innovation by centralizing data analytics and AI under the Institutional Development and Modernisation Sectional Superintendence. This reorganisation consolidates responsibilities from the Investigation Intelligence Office and the Strategic Risk Supervision Intelligence Office into a new Intelligence Development Office. The resolution takes effect on 1 August 2025.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-07-16•Global•Network for Greening the Financial System
The Network for Greening the Financial System (NGFS) released a technical note to help micro-prudential authorities engage with banks and insurers on climate-related targets in transition plans, emphasizing strategic and risk implications. It outlines target-setting processes, potential risks like greenwashing, and includes supervisory questions, with a companion note on climate scenario analysis concluding an NGFS transition plan cycle.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-16•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority finalized amendments to the Depositor Protection Part of its Rulebook to implement the Bank Resolution (Recapitalisation) Act 2025. These changes enable the Financial Services Compensation Scheme to make recapitalisation payments as required by the Bank of England and levy the industry to recoup those payments, ensuring banking service continuity during failures. The amendments include defining recapitalisation payments, creating a new levy payer class, and updating levy structures, effective from 16 July 2025.
Policy & regulationRules & requirementsRecovery and resolution
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2025-07-16•Poland•Central Bank of Poland
The Central Bank of Poland released its June 2025 core inflation indices, reporting a Consumer Price Index inflation of 4.1% year on year and inflation excluding food and energy at 3.4%. Other measures include inflation excluding administered prices at 2.5%, inflation excluding the most volatile prices at 4.5%, and the 15% trimmed mean at 3.7%. The bank emphasizes using these indices to identify inflation sources and assess persistence, with the food-and-energy-excluded measure crucial for inflation targeting.
Data & statisticsMonetary data
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2025-07-16•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC advises holders of Energy Absolute’s EA257A bonds to review information and attend the bondholders’ meeting on 18 July 2025. The meeting will address non-compliance exemptions and consider a debt restructuring proposal, including maturity extensions and interest rate changes. The SEC mandates the bondholders’ representative to evaluate the proposal's implications to guide voting decisions.
SupervisionOtherCorporate governance
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2025-07-16•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has launched the ISDA Notices Hub and the ISDA 2025 Notices Hub Protocol to streamline and standardize time-sensitive notices under the ISDA Master Agreement, reducing uncertainty and potential losses from delivery failures. Supported by S&P Global Market Intelligence, the platform facilitates secure notice exchanges and updates address details, with 79 entities participating across North America, Europe, and Asia-Pacific.
Policy & regulationInternational standards & recommendationsMarket infrastructure
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2025-07-16•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada, with other authorities, warned against North Korean IT workers posing as freelancers, highlighting sanctions, financial crime, and cyber risks. The advisory outlines legal consequences under Canadian sanctions laws and emphasizes vigilance in hiring, including identity verification and avoiding cryptocurrency payments. Entities must report suspicious transactions related to money laundering, terrorist financing, or sanctions evasion to FINTRAC.
SupervisionAlertsCyber resilience
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2025-07-16•Europe•European Payments Council
The European Payments Council has released the SEPA Request-To-Pay Inter-SRTP Service Provider API Specifications, finalizing the documentation for the SEPA Request-To-Pay scheme. These specifications, aligned with the SRTP Scheme Rulebook version 4.0, define APIs for exchanges between SRTP service providers using the ISO 20022 messaging standard.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-16•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has issued a consumer alert about a surge in scams involving fake loan offers, with most warnings in early 2025 related to fraudulent loan promises. Scammers demand upfront fees, then disappear without providing loans, often pressuring consumers with threats or impersonating public bodies. The authority advises consumers to verify lenders through its warning list, company register, and IOSCO’s I-SCAN database.
SupervisionAlertsFraud and scams
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2025-07-16•United States•U.S. Financial Services Committee
U.S. House Committee on Financial Services Chairman French Hill endorsed the legislative path for digital asset regulation, emphasizing three priorities: the GENIUS Act for a U.S.-dollar-backed stablecoin, a digital asset market structure framework, and the Anti-CBDC Surveillance Act. These initiatives aim to establish federal regulation, protect privacy, and support private-sector payment innovation.
Policy & regulationReform agendas & prioritiesStablecoinsCBDC
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2025-07-16•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Housing and Insurance Subcommittee held a hearing on bipartisan proposals to modernize the Department of Housing and Urban Development’s HOME Investment Partnerships Program. The draft legislation aims to reduce project costs and expedite affordable housing delivery by addressing cost and delay drivers like environmental reviews and construction material requirements. The bill is expected to evolve based on testimony, member input, and stakeholder feedback.
Policy & regulationReform agendas & prioritiesOther
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2025-07-16•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee's National Security Subcommittee held a hearing on "U.S. Policy on Investment Security," focusing on CFIUS's role in safeguarding national security. Chair Warren Davidson stressed efficient threat management without burdening U.S. businesses and supported an outbound investment regime with sanctions to prevent aiding adversarial nations. The discussion referenced the 2018 FIRRMA and a recent presidential memorandum on investment oversight.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-07-16•Russia•Central Bank of Russia
The Central Bank of Russia has introduced a Code of Responsible Investment for institutional investors, including banks and insurers, focusing on equity instruments. The Code encourages active engagement with issuers to enhance corporate governance and shareholder value. Adherents are expected to publish annual reports on their implementation of the principles.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-16•Russia•Central Bank of Russia
The Central Bank of Russia attended a meeting of the Foreign Exchange Policy Advisory Board of Eurasian Economic Union central banks in Kyrgyzstan, discussing economic outlook, monetary policy, and regulatory coordination. Key topics included the countercyclical capital buffer, ESG activities, and joint cyber drills. Governor Elvira Nabiullina led the Russian delegation.
Policy & regulationCooperationCross-border cooperationESG
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2025-07-16•Russia•Central Bank of Russia
The Central Bank of Russia's July Monitoring of Businesses commentary shows a slowdown in business activity, with the Business Climate Index dropping to 1.5 points from 3.0 in June. Output, demand, and short-term expectations have decreased, while business price expectations have risen. The central bank will now regularly publish monitoring indicators by macro region and provide time series survey results via its Official Statistics Retrieval Service.
Data & statisticsEconomic data and developments
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2025-07-16•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg and STATEC reported a provisional current account surplus of EUR 883 million for Q1 2025, up EUR 316 million from Q1 2024. The goods balance showed a deficit of EUR 184 million, with notable changes in exports and imports, while the services surplus rose 18% to EUR 1,273 million. In the financial account, there were significant portfolio investment inflows into Luxembourg equities and debt securities, alongside net disinvestment in foreign equities.
Data & statisticsBalance of payments and other external statistics
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2025-07-16•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved incorporations and licence amendments for real estate investment funds and SME and microfinance activities. The National Bank of Egypt and Qatar National Bank were cleared to deal in government securities and financial instruments in the secondary market. Key approvals include establishing Saqr Real Estate Investment Fund Company and Nawy Shares Real Estate Investment Fund Company, with authorizations for related firms to promote, underwrite, and manage real estate investment funds.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) outlined strategic priorities for reforming the non-bank financial sector, emphasizing market integrity, investor protection, digitalization, and product expansion. Key initiatives include developing digital market infrastructure, frameworks for SPAC shares, and updates to accounting standards. The FRA also highlighted launching a voluntary carbon market and plans for rules on digital platforms for real estate investment funds.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial inclusion
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2025-07-16•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) participated in the London Stock Exchange's "Egypt Day" to enhance strategic partnerships with international institutions. The delegation, including senior Egyptian financial officials, aims to expand cooperation with UK businesses and align Egypt's capital market with global practices.
Policy & regulationCooperationCross-border cooperation
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2025-07-16•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC), Federal Reserve, and Office of the Comptroller of the Currency proposed rescinding the 2023 Community Reinvestment Act (CRA) rule, reverting to the 1995 CRA regulations with technical amendments. This affects all FDIC-supervised and insured institutions, updating asset-size thresholds for "small bank" definitions and adjusting CRA Sunshine Requirements. The 2023 rule has not taken effect and remains under legal scrutiny.
Policy & regulationRules & requirementsOther
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2025-07-16•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency proposed rescinding the 2023 Community Reinvestment Act (CRA) rule, which is under legal challenge, and reinstating the 1995 CRA regulations with technical amendments. The proposal aims to restore certainty for stakeholders and reduce regulatory burden on banks while ensuring community service expectations are met.
Policy & regulationRules & requirementsOther
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2025-07-16•United States•Federal Reserve Board
Federal Reserve Board Governor Michael S. Barr's speech highlighted the historical pattern of financial regulation weakening during boom periods, increasing bank fragility and exacerbating downturns. Barr advocated for a through-the-cycle regulatory approach to maintain resilience, citing past crises like the Great Depression and the Savings and Loan crisis as examples of regulatory gaps leading to significant bank failures. He emphasized the need for continuous regulatory updates to address evolving risks and resist deregulatory pressures during economic expansions.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2025-07-16•United States•Federal Reserve Board
The US Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency proposed rescinding the 2023 Community Reinvestment Act (CRA) final rule, reverting to the 1995 CRA regulations with technical amendments. The 2023 rule, not yet in effect due to legal challenges, would be replaced to reduce regulatory burden while ensuring banks continue serving their communities.
Policy & regulationRules & requirementsOther
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2025-07-16•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester Peirce urged enhanced UK-US regulatory cooperation to foster innovation in global capital markets, proposing a cross-border "sandbox" for testing distributed ledger technology. Her speech emphasized existing cooperation tools and outlined critical sandbox design features, focusing on crypto and blockchain experimentation. Peirce encouraged joint discussions between firms and regulators and highlighted the SEC's call for public comment on Foreign Private Issuer eligibility.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-07-16•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Tran Anh Quy as Deputy Head of the Department of Credit for Economic Sectors for a five-year term. Deputy Governor Nguyen Ngoc Canh emphasized the department's focus on regulatory framework development, credit support programs, and managing risky sectors to achieve an 8% GDP growth target.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-16•Vietnam•State Bank of Vietnam
At a forum in Hanoi, State Bank of Vietnam Deputy Governor Pham Tien Dung highlighted digitalisation's impact on banking, with automation displacing traditional roles and a shift towards "smart" digital ecosystems. Key indicators included a daily throughput of VND 820 trillion in the interbank payment system and a rise in QR-code transactions. The forum also addressed the growing demand for IT skills due to AI and other technologies, with calls for enhanced training and a digital competency framework.
Institutional developmentWorkforce & recruitmentFintech and insurtechArtificial intelligence
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2025-07-16•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and J.P. Morgan discussed enhancing technical cooperation, focusing on foreign exchange reserve management and bond transactions. They highlighted ongoing exchanges and workshops on securities lending, custody, and central bank gold investment. The State Bank expressed interest in making these workshops an annual event to further expand cooperation.
Institutional developmentCooperation & capacity buildingCross-border cooperation
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2025-07-16•Vietnam•State Bank of Vietnam
Prime Minister Pham Minh Chinh has directed the State Bank of Vietnam to support a 2025 GDP growth target of 8.3–8.5% through proactive monetary policy, including adjusting the credit growth target and reducing borrowing costs. The central bank must ensure credit for priority sectors and implement a VND 500 trillion lending package for infrastructure and digital technology. Efforts will also focus on stabilizing the exchange rate and keeping inflation below 4.5%.
Monetary policyMonetary policy framework & strategyEconomic data and developments
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2025-07-16•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision released its final Guide on outsourcing cloud services, detailing expectations for banks under the Digital Operational Resilience Act (DORA). The non-binding Guide aims to enhance supervision consistency and outlines good practices for cloud outsourcing risk management. It incorporates feedback from a public consultation, clarifying distinctions between DORA requirements and ECB recommendations, and emphasizes a risk-based approach to IT security and cyber risks.
Policy & regulationGuidance & interpretationOutsourcing and third-party risk management
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2025-07-16•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency proposed rescinding the 2023 Community Reinvestment Act (CRA) final rule and reinstating the 1995 CRA regulations with technical amendments. This move aims to provide greater certainty amid pending litigation and reduce regulatory burden, as the 2023 rule has not taken effect and remains under legal scrutiny.
Policy & regulationRules & requirementsFinancial inclusionRegulatory burden
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2025-07-16•South Korea•Bank of Korea
The Bank of Korea released preliminary data for June 2025, indicating declines in both the Export and Import Price Indexes in Korean won terms. The Export Price Index fell 1.1% month-on-month and 4.5% year-on-year, while the Import Price Index decreased 0.6% month-on-month and 6.2% year-on-year. The Net Barter Terms of Trade Index improved by 4.0% year-on-year.
Data & statisticsEconomic data and developments
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2025-07-16•India•Securities & Exchange Board of India
SEBI issued an updated master circular for portfolio managers, consolidating requirements from previous circulars and superseding the June 2024 version. The framework covers registration, operating standards, client protection, investment controls, and disclosure obligations, including a minimum INR 50 lakh investment and cyber security compliance. Transition provisions ensure continuity for actions and applications under rescinded circulars, with ongoing reporting obligations maintained.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-16•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission released the 2024 Financial Inclusion Indicators, showing Taiwan surpassing global averages in access and usage metrics, including bank branches, ATMs, and digital payments. All 2024 targets were met, with notable achievements in online insurance sales and financial literacy. For 2025, the FSC revised one observatory indicator on futures market e-trading and raised target values for six performance indicators, maintaining 23 performance and four observatory indicators in the updated framework.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-07-16•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India (IRDAI) approved the transfer of 26% equity shares in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance from Allianz SE to Bajaj Finserv Limited, Bajaj Holdings & Investment Limited, and Jamnalal Sons Private Limited. The decision was made by IRDAI’s Panel of Whole Time Members on 15 July 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has fined a foreign bank branch AED 600,000 for non-compliance with Market Conduct and Consumer Protection Regulations and Standards. This enforcement action is based on Article 137 of Decretal Federal Law No. 14 of 2018, as amended.
EnforcementSanctions & designationsConsumer and investor protection
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2025-07-15•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported a current account surplus of USD 413.3 million for Q1 2025, equivalent to 8.0% of GDP, up from 4.1% in Q1 2024. Goods exports rose to USD 1,857.5 million, while imports increased to USD 2,540.0 million, resulting in a reduced trade deficit. Remittance inflows surged by 26.3% year-on-year to USD 1,441.3 million, and gross foreign direct investment inflows totaled USD 707.3 million.
Data & statisticsBalance of payments and other external statistics
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2025-07-15•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic announced that Governor Héctor Valdez Albizu discussed economic conditions with the Dominican College of Engineers, Architects and Surveyors, highlighting the release of DOP 81 billion for loans to productive sectors at a maximum interest rate of 9% and policy rate cuts totaling 125 basis points in 2024. The construction sector, accounting for 13.1% of GDP, saw private credit growth of 8% year on year by end-June, with projections of 10%–12% by year-end. CODIA is enhancing governance, training, and monitoring of construction costs.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-07-15•United Kingdom•Payment Systems Regulator
The Payment Systems Regulator unveiled a new model for UK retail payments infrastructure, redistributing roles among public authorities and industry while retaining Pay.UK's role. It focuses on public-private collaboration to improve the Faster Payments System and adopt new technologies, guided by international comparisons and past UK strategies, with coordination under an updated Memorandum of Understanding as the PSR consolidates into the Financial Conduct Authority.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-15•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has announced its 2025 continuing professional training programme for accredited auditors, to be held in person in Brussels. The programme includes sessions on 25 November for collective investment entities and on 2 December for occupational retirement institutions.
Policy & regulationImplementation, projects & pilotsAuditing
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2025-07-15•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) released a guide detailing criteria and procedures for identifying politically exposed persons in the insurance and pension funds sector.
Policy & regulationGuidance & interpretationKYC
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2025-07-15•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in a roundtable organized by Cape Verde's General Audit of the Securities Market, discussing financial intermediation market opportunities and challenges among Portuguese-speaking jurisdictions. Executive Administrator Nádia Pinto highlighted Angola's progress in regulation, digitalization, and diversification, while addressing challenges like financial literacy and system confidence.
Policy & regulationCooperationCross-border cooperation
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2025-07-15•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has licensed Gulf Capital Investment Company to establish the Pearl Money Market Fund, a USD-denominated fund compliant with Islamic Sharia. The licence, valid for three years, was issued under the Authority’s securities law and executive bylaws, referencing Resolution No. 88 of 2025 and Article Nine.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-15•Europe•European Securities and Markets Authority
The European Supervisory Authorities published a guide detailing oversight of critical ICT third-party service providers under the Digital Operational Resilience Act. The guide outlines governance, principles, and processes, including the use of Joint Examination Teams, and is non-binding. Stakeholders are encouraged to use the guide for preparation and refer to additional resources for implementing the DORA Oversight framework.
Policy & regulationGuidance & interpretationOperational risk and resilienceOutsourcing and third-party risk management
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2025-07-15•Australia•Australian Securities & Investments Commission
ASIC has charged Glenn Alexander Rosewall, former Executive Chairman of BBY Limited, with aiding and abetting the company's alleged dishonest conduct involving client money. Rosewall allegedly used AUD 1.95 million of client funds to pay an unrelated corporate invoice between March and May 2015. He faces charges under the Corporations Act 2001 and the Criminal Code, prosecuted by the Commonwealth Director of Public Prosecutions.
EnforcementInvestigations & enforcement actions
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2025-07-15•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced the conviction of Remedy Housing officials Brent Smith, Mahmoud Khodr, and Fue Mano for dishonesty offences related to promoting interest-free mortgages. They were found guilty of using their positions dishonestly between 2019 and 2021. Remedy Housing falsely claimed to offer interest-free mortgages and refunds, using deposits for operations and personal gain. The Commonwealth Director of Public Prosecutions prosecuted the case after an ASIC investigation. Interim orders and injunctions were previously obtained by ASIC. Sentencing is set for 9 September 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-15•Dominican Republic•Pensions Superintendency (SIPEN)
SIPEN held a training at the General Directorate of Internal Taxes on maximizing retirement outcomes under the Individual Capitalization System. The session highlighted the impact of ordinary and voluntary contributions on pension increases, using illustrative cases. This initiative is part of SIPEN's educational program to enhance pension literacy and award the DGII the “Aquí Sabemos de Pensiones” designation.
Financial literacy & educationFinancial literacy and education
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2025-07-15•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that Daniel Kirby, former director of Berndale Capital Securities Pty Ltd, was sentenced to 2 years and 11 months for dishonest conduct and misuse of funds, with possible release after 12 months on a AUD 1,000 recognisance and three years of good behaviour. Kirby pleaded guilty to charges including providing false information to an auditor. This case is the first under ASIC’s expanded corporate criminal jurisdiction in the Federal Court. Co-accused former director Mr. D’Amore has a case management hearing on 24 July 2025.
EnforcementInvestigations & enforcement actionsAuditingCorporate governance
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2025-07-15•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority participated in the 49th Saba Saba International Trade Fair, engaging with over 40 insurance companies and agent banks. Insurance providers reported strong outcomes, including customer acquisition and increased public visibility. Insurance Commissioner Dr Baghayo Saqware emphasized professionalism and transparency in operations.
Financial literacy & educationMarket development
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2025-07-15•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market released its June 2025 analytical digest, highlighting a significant increase in securities trading. Organised market turnover rose to UAH 96.3 billion, driven by government bonds, while unorganised market turnover reached UAH 58.8 billion, with notable activity in government and corporate bonds. Commodity exchange trading also increased to UAH 32.4 billion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-15•Peru•Central Bank of Peru
The Central Bank of Peru, with the Reinventing Bretton Woods Committee and the Inter-American Development Bank, stressed macroeconomic stability and regional reforms amid global uncertainty. The conference noted weaker growth prospects, trade pattern shifts, and US fiscal measures' impact on the dollar. Policy priorities include aligning monetary and fiscal policies, avoiding demand-driven inflation, and advancing infrastructure, digitalisation, and social protection reforms.
Policy & regulationGuidance & interpretation
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2025-07-15•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance clarified that fines reported for CI Banco, Intercam, and Vector Casa de Bolsa are the same as those communicated on 25 June. The updated MXN 185 million reflects breaches in administrative processes identified through regular reviews. The ministry stated it has no conclusive evidence of illicit activities but will act decisively if such evidence arises.
Policy & regulationGuidance & interpretationComplianceSupervision process and methodologies
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2025-07-15•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) released “Getting to Know and Understand Carbon Trading for the Financial Services Sector” to bolster the sector's role in green economy transition, as mandated by Law No. 4 of 2023. The publication outlines principles, regulatory foundations, and trading mechanics for carbon trading, highlighting market potential, challenges, and the need for strong governance. OJK reported Indonesian carbon market data, including a traded volume of 1,599,336 tonnes of carbon dioxide equivalent valued at IDR 78 billion.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-15•Indonesia•OJK
The Indonesia Financial Services Authority (OJK) mandates investment managers to implement risk management and undergo soundness assessments, aligning with risk-based supervision. Effective 9 May 2025, it outlines requirements for risk management, soundness assessments, and follow-up actions, consistent with International Organization of Securities Commissions guidance. Obligations commence on 9 May 2027, revoking Article 47 of OJK Regulation No. 17/POJK.04/2022.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-15•Georgia•National Bank of Georgia
The National Bank of Georgia and the Bank of Korea have initiated a project to advance cashless payments in Georgia, linked to Real-Time Gross Settlement modernisation and instant payment solutions. The collaboration will leverage Korean expertise in payment system modernisation, focusing on technological innovation, consumer behaviour, infrastructure constraints, and financial inclusion. The project includes meetings with banking and fintech stakeholders and aims to develop policy, regulatory, and technological recommendations for Georgia's payments landscape.
Policy & regulationCooperationPayments and payment systems
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2025-07-15•Georgia•National Bank of Georgia
The National Bank of Georgia published an interactive update detailing money transfer statistics for June 2025, accessible on its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-15•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has released the Draft Women EquiSmart Policy 2025–2028 for public consultation, marking its first comprehensive gender equality framework for SECP-regulated sectors. The policy, structured around six pillars, aims to enhance women's leadership, entrepreneurship, and workplace inclusivity, aligning with national and global priorities. Stakeholders are encouraged to provide feedback on the proposed recommendations and action plan.
Policy & regulationReform agendas & prioritiesDiversity and inclusion
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2025-07-15•China•Central Bank of the Republic of China
People's Bank of China Governor Pan Gongsheng and Bernard Mensah, President of Bank of America International, discussed the global economic and financial situation, China's macroeconomic policies, and financial market development.
OtherCross-border cooperation
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2025-07-15•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance has drafted amendments to the Alternative Investment Funds and their Managers Law to support sector development and reduce administrative burdens. The amendments refine rules for managers, enhance registration requirements, and update anti-money laundering and counter-terrorist financing expectations. They propose new requirements for fund unit issuance, closed-end fund frameworks, and empower Latvijas Banka to fine unnotified acquisitions of holdings in registered managers.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-15•Europe•European Banking Authority
The European Supervisory Authorities, including the European Banking Authority, have released a guide on oversight activities under the EU Digital Operational Resilience Act (DORA). It details the use of Joint Examination Teams to oversee critical ICT third-party service providers and explains the oversight framework's governance, processes, and tools. It is non-binding and aims to assist stakeholders in preparing for DORA's implementation.
Policy & regulationGuidance & interpretationOperational risk and resilienceOutsourcing and third-party risk management
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2025-07-15•United Kingdom•Financial Conduct Authority
The UK Financial Conduct Authority and the UK Financial Ombudsman Service propose reforms to enhance predictability, consistency, and firm accountability in mass redress events. Key proposals include a six-criteria assessment framework, updated FCA Handbook guidance, and changes to complaint handling. The reforms also aim to improve Financial Services Compensation Scheme efficiency through simplified eligibility and broader default-determination powers.
Policy & regulationRules & requirements
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2025-07-15•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a provisional state budget deficit of EUR 416 million for January–June 2025, significantly below the target of EUR 2,795 million. The primary surplus was EUR 4,667 million, exceeding the target of EUR 2,235 million. Net revenues were 1.4% above target, driven by strong tax receipts, while expenditure was EUR 1,891 million below target due to timing delays in payments.
Data & statisticsOther
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2025-07-15•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance, via Deputy Minister Georgios Kotsiras, presented the draft Property Taxation Code to the Greek Parliament’s Standing Committee on Economic Affairs. The code aims to consolidate decades of real estate tax legislation to enhance legal certainty and transaction security. Kotsiras also highlighted the government's broader tax policy achievements since 2019, including reductions and efforts to combat tax evasion.
Policy & regulationRules & requirementsOther
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2025-07-15•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance shared Deputy Minister Giorgos Kotsiras's priorities at the 8th InvestGR Forum, focusing on reducing bureaucracy and enhancing the business environment through tax policy and digitalisation. Kotsiras emphasized efforts to lower taxes, combat tax evasion, and streamline administrative processes. A new Customs Code, aimed at digitising trade processes, is anticipated to be voted on next week.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-07-15•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) stresses robust AML/CFT protections for firms in crypto activities, focusing on Crypto-Asset Service Providers (CASPs) in its 2025 Work Programme. AMLA expects more licensed CASPs under the Markets in Crypto-Assets Regulation (MiCA) and notes the risk of inconsistent application across jurisdictions. Coordination with national authorities and European bodies will uphold high AML/CFT standards and conduct joint financial intelligence analyses.
Policy & regulationGuidance & interpretationAML and CFT
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2025-07-15•Bolivia•Financial System Supervisory Authority of Bolivia
Bolivia’s Financial System Supervisory Authority (ASFI) has implemented a new framework for Financial Technology Companies (ETFs), including a Controlled Testing Environment (ECP) for testing innovative services. The regulation emphasizes responsible innovation, interoperability, and confidentiality, with requirements for data protection, cybersecurity, and risk management. Existing firms must begin adapting by 31 December 2025 while continuing declared services.
Policy & regulationRules & requirementsFintech and insurtech
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2025-07-15•Global•International Association of Deposit Insurers
The International Association of Deposit Insurers (IADI) announced the Reserve Bank of New Zealand's membership and updates on deposit insurance policy activities. The consultation on Core Principles for Effective Deposit Insurance Systems has closed, while the e-money and deposit insurance consultation remains open. IADI is also conducting a digitalisation webinar series addressing issues like stablecoin regulation and Brazil's Digital Brazilian Real (Drex).
Policy & regulationInternational standards & recommendationsOther
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2025-07-15•Australia•Reserve Bank of Australia
The Reserve Bank of Australia has released a consultation paper proposing the removal of surcharges on eftpos, Mastercard, and Visa cards, reduced interchange fee caps, and increased fee transparency. Feedback is due by 26 August 2025, with final conclusions and an implementation timeline expected by the end of 2025.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-15•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan approved senior appointments at the newly converted second-tier bank from JSC “Microfinance Organization KMF.” Appointments include Olga Vladislavovna Yugay, Karlygash Tlekovna Raikhanova, and Dmitry Mikhailovich Larin as Deputy Chairs, Evgeniy Yuryevich Chernykh as chief accountant, and board members Konstantin Tsereteli, Yoachim Bold, and Andrew Pospilovski.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-15•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Alexander Alexandrovich Kamchatny for appointment to an executive body in the securities market.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-07-15•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on rising mobile device fraud, highlighting threats from malicious apps and fake links. Recommended precautions include using antivirus software, downloading apps from official stores, and employing strong passwords. The agency advises against storing sensitive information on phones and outlines steps for responding to device loss or suspected compromise.
Financial literacy & educationCyber resilienceConsumer and investor protection
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2025-07-15•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria released June 2025 statistical data on banknotes and coins in circulation, available in a tabular format in its "Statistics of banknotes and coins in circulation" section. The dissemination calendar is accessible online.
Data & statisticsCurrency and cash management
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2025-07-15•Ghana•Bank of Ghana
In a keynote address, the Bank of Ghana's Governor, Dr. Johnson P. Asiama, outlined strategies to sustain cedi stability, highlighting a 42% cedi appreciation and USD 11.1 billion in reserves. The turnaround is attributed to coordinated policies, including a 28% monetary policy rate, FX market discipline, and fiscal consolidation under an IMF program. Future plans include expanding FX forward auctions, developing derivatives markets, enforcing legal tender laws, integrating eCedi with payment systems, and finalizing a regulatory framework for Virtual Asset Service Providers.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-07-15•United Kingdom•UK Parliament
The UK Parliament’s Public Accounts Committee (PAC) criticizes HM Revenue & Customs (HMRC) for failing to accurately assess tax payments and avoidance by UK billionaires, urging enhanced transparency and tax yield from wealthy individuals, including offshore assets. Despite increased revenue from wealthy taxpayer compliance, the PAC questions HMRC's tax gap estimates and highlights enforcement issues, such as reduced penalties and lengthy investigations. The PAC calls for better utilization of data and sanctions to address non-compliance among the wealthy.
Policy & regulationReform agendas & prioritiesTax transparency and information exchange
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2025-07-15•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan commenced a study tour in Kuala Lumpur on Islamic finance, supported by the Asian Development Bank and the International Centre for Education in Islamic Finance. The programme involves representatives from various Uzbek ministries and covers regulatory frameworks, Shariah governance, taxation, and liquidity management.
Institutional developmentCooperation & capacity buildingCapacity buildingFinancial inclusion