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2025-07-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has launched a public consultation on a draft regulation to replace CVM Resolution 106, requiring listed companies to adopt CPC Technical Pronouncement 51 for financial statement presentation and disclosure from 1 January 2027. CPC 51 updates presentation requirements, including income and expense classification, aligning with IFRS 18 while incorporating Brazil-specific adaptations. No regulatory impact analysis was conducted due to an exemption under Decree 10.411/20.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-14•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) joined the International Organization of Securities Commissions’ International Securities and Commodities Alerts Network (I-SCAN) to combat online investment fraud. This membership allows AFSA to publish global fraud warnings and strengthens its oversight of digital financial services. AFSA also urged Kazakhstani online platforms to engage with I-SCAN, emphasizing compliance and information sharing.
SupervisionCooperationCross-border cooperation
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2025-07-14•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay is consulting on updated rules for Payment Initiation Service Providers in the Instant Payments System. The proposal aligns the regime with Law 7503/2025, brings fintech providers into scope and updates authorization, operational and security requirements. It also emphasizes information security, cybersecurity and fraud prevention.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-14•Paraguay•Central Bank of Paraguay
The executive branch has nominated Marco Aurelio González Maldonado to join the Central Bank of Paraguay's board. The nomination will be sent to Congress for approval, and he would take office on August 15, 2025, if confirmed. González has 25 years at the central bank and currently serves as Procurator General of the Republic.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Global•Institute of International Bankers
The Institute of International Bankers congratulated Jonathan Gould on his confirmation as Comptroller of the Currency by the U.S. Senate, noting his prior experience and expressing eagerness to engage with him on international banking issues. The statement also acknowledged Acting Comptroller Rodney Hood for his recent leadership.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, finance operations, and supply chains, with winning projects showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced the departure of Huston Loke, its first Executive Vice President, Market Conduct, effective 31 July 2025. Loke's tenure included significant contributions to insurance conduct, mortgage brokering, and title protection, as well as chairing the Canadian Council of Insurance Regulators. A transition plan will be announced shortly.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Poland•Central Bank of Poland
The Central Bank of Poland reported a widening current account deficit of PLN 7.4bn in May 2025, up from PLN 2.0bn in May 2024. The deficit was driven by primary income, trade in goods, and secondary income shortfalls, despite a services surplus. Goods exports increased by 3.4% year on year, with notable growth in toys, clothing, and pharmaceuticals, while imports rose 4.5%, influenced by armament deliveries and higher consumer goods inflows.
Data & statisticsBalance of payments and other external statistics
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2025-07-14•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has released a product approval checklist detailing required information and documentation for new or revamped insurance product applications. The checklist includes application forms, policy documentation, marketing materials, premium rating structures, actuarial analysis, and service level agreements. It mandates IRA approval for changes to submitted documents, excluding the business plan.
Policy & regulationGuidance & interpretationLicence approval
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2025-07-14•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has introduced a Product AML Risk Assessment tool for insurers to evaluate money laundering and terrorist financing risks in insurance products. It assesses product, client, geographical, and distribution channel risks, assigning low, medium, or high ratings based on a comprehensive matrix. It incorporates inputs like product class, premium details, customer type, and geographical coverage, mapping results to specific risk thresholds.
Policy & regulationGuidance & interpretationAML and CFT
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2025-07-14•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC urges bondholders of Energy Absolute's EA269A and EA289A series to review information and exercise their rights at a reconvened meeting on 16 July. Bondholders will vote on waiving non-compliance with meeting procedures and an event of default related to restructuring proposals, including changes to maturity, interest rates, and principal repayment schedules. The SEC requires the bondholders' representative to assess impacts of approval or rejection and encourages bondholders to seek further details before voting.
SupervisionRisk monitoring & watch pointsCorporate governance
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2025-07-14•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC updated its guidance on the Ministerial Directive for financial transactions linked to Iran, emphasizing high-risk treatment and enhanced due diligence. The directive applies to various financial entities, mandating comprehensive identification, recordkeeping, and reporting, regardless of transaction amount. FINTRAC outlines specific reporting instructions and notes potential compliance assessments and penalties for breaches.
Policy & regulationGuidance & interpretationAML and CFT
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2025-07-14•United Kingdom•HM Treasury
HM Treasury released guidance on the UK's outcomes-based approach for recognising overseas regulatory frameworks, detailing principles for designations and processes for monitoring and amending them. Designations, made by statutory instrument with parliamentary scrutiny, may be partial or conditional, and ongoing oversight includes proportionate monitoring. The guidance also plans to restate around 270 EU equivalence decisions in UK law and includes a memorandum of understanding with key regulators for coordination.
Policy & regulationGuidance & interpretationCross-border payments
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2025-07-14•Europe•European Payments Council
The European Payments Council and Swift have released videos to explain the EPC Directory Service for participants in the VOP scheme. The materials cover EDS registration, delegation of data management to Routing and Verification Mechanisms, use of the graphical user interface, and the automated download service for the daily EDS Local File. Technical specifications and user guides are available on the official EDS documentation page.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, finance operations, and supply chains, with winning projects to be showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, financial operations, and supply chains, with winning projects to be showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Russia•Central Bank of Russia
The Central Bank of Russia plans to enhance IPO regulation by improving issuer disclosures and tightening listing conditions. Key measures include converting the securities prospectus summary into a concise document with essential financial and strategic information, and requiring independent analytical reports on fair value. These changes aim to be finalized by the end of 2025.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-14•Global•Financial Standards Planning Board
The Financial Planning Standards Board (FPSB) released its 2024 Annual Report, detailing a 3.1% increase in CERTIFIED FINANCIAL PLANNER (CFP) professionals globally and highlighting initiatives such as updates to CFP certification, new educational content, and international collaborations, including engagement with the International Organization of Securities Commissions (IOSCO) and support for global financial education campaigns.
Financial literacy & educationOther
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2025-07-14•United States•U.S. Financial Services Committee
The U.S. House Financial Services and Agriculture Committees outlined their "Crypto Week" agenda, focusing on a regulatory framework for digital assets. Key developments include the bipartisan passage of the Digital Asset Market Clarity Act, clarifying roles for the SEC and CFTC, enhancing consumer protections, and supporting innovation. The agenda also considers bills to prevent a government-run digital dollar and establish a framework for payment stablecoins.
Policy & regulationReform agendas & priorities
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2025-07-14•Egypt•Egypt Financial Regulatory Authority
The Chair of the Egypt Financial Regulatory Authority announced expanded corporate governance expectations for approximately 3,500 non-banking financial institutions. Key initiatives include mandatory female board representation, ESG and TCFD disclosures, and the launch of Egypt’s first voluntary carbon market. The Authority is developing a unified methodology for evaluating company reports and has introduced classifications for sustainability bonds and criteria for green investment funds.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-07-14•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint statement on risk-management considerations for banks offering crypto-asset safekeeping services. It emphasizes adherence to existing risk-management principles and compliance with applicable laws, without introducing new supervisory expectations. The agencies are exploring further clarity on banks' involvement in crypto-asset activities.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-14•United States•Federal Reserve Board
The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency issued a joint statement on risk management for banks holding crypto-assets for customers. The statement reaffirms that existing risk-management principles apply and emphasizes compliance with laws and regulations. It clarifies that no new supervisory expectations are introduced, while further guidance on crypto-asset activities is being explored.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) finalized regulations for the Consolidated Debt Registry (REDEC) under Law No. 21,680, enhancing the Debt Report with new reporting entities and debtor rights. General Rule No. 540 outlines operational requirements, data security, and debtor rights, while the Information Systems Manual details reporting and management systems. Key changes include extending consent-based access for entities and clarifying audit requirements.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) has initiated a second public consultation on amendments to the Updated Compilation of Rules for Banks, aligning with the Fintech Act (Law No. 21,521). The proposal addresses customer service channels, including operating hours, service mechanisms, and conditions, incorporating feedback from the first consultation. The CMF also plans to repeal the December 31 banking holiday and may propose further regulatory changes.
Policy & regulationRules & requirementsFintech and insurtech
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2025-07-14•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) warns that the province's credit union model faces challenges from stagnant membership, declining market share, and uneven technology. Increasing demands in cybersecurity, conduct, and compliance outpace many institutions' capacities, necessitating a system redesign. Two approaches are proposed: consolidation into fewer, larger credit unions or maintaining local autonomy with centralized platforms and shared services.
Policy & regulationReform agendas & prioritiesOther
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2025-07-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported stable banking operations amid the transition to a two-tier local government model and initiated policy-backed lending for a rice cultivation scheme. Agribank leads the scheme without a credit cap, while seven other banks have registered VND 17,000 billion for the pilot phase, with VND 5,200 billion disbursed by June 2025. SBV will direct banks to expedite disbursements and collaborate with authorities to resolve challenges.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-14•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint statement on risk management for banks offering crypto-asset safekeeping services. It emphasizes adherence to existing risk-management principles and compliance with applicable laws, without introducing new supervisory expectations. The agencies are exploring further guidance on banks' involvement in crypto-asset activities.
Policy & regulationGuidance & interpretationClient asset custody and safekeepingTokenization
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2025-07-14•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency outlined Acting Comptroller Rodney E. Hood’s agenda, focusing on strengthening the federal banking system, reducing regulatory burdens, and promoting financial inclusion. Key actions include conditional approval of Discover Bank’s merger into Capital One, support for modifying leverage ratios and capital standards, and initiatives on digital assets and fintech partnerships. The update also highlights efforts to mitigate payments fraud and enhance financial literacy.
Policy & regulationRules & requirementsFintech and insurtechRegulatory burdenFinancial inclusion
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2025-07-14•Global•Financial Stability Board
FSB Chair Andrew Bailey outlined strategic priorities in a letter to G20 Finance Ministers and Central Bank Governors, emphasizing international coordination for financial stability. Priorities include enhancing surveillance, addressing financial stability risks, and strengthening FSB effectiveness, focusing on data improvement, cross-border payments, climate impacts, and leverage effects. The letter, submitted ahead of the G20 meeting in Durban, also stresses vigilance against market disruptions amid geopolitical tensions.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-07-14•Global•Financial Stability Board
Financial Stability Board Chair Andrew Bailey submitted three deliverables to the G20: policy recommendations on nonbank financial intermediation (NBFI) leverage, a workplan for nonbank data challenges, and an update on the climate risk roadmap. The NBFI report emphasizes monitoring leverage-related risks and calls for flexible policy measures, while the data workplan addresses challenges in data availability and quality. Bailey also outlined priorities such as enhancing surveillance, supporting NBFI policy implementation, and focusing on stablecoins and cross-border payments.
Policy & regulationImplementation, projects & pilots
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2025-07-14•Canada•Alberta Securities Commission
The Alberta Securities Commission has sanctioned Raymond Cawaling and RTAX Financial Corp. for illegal securities distribution and investor fraud, including misappropriating at least CAD 462,421. The ASC ordered them to pay CAD 462,421, an administrative penalty of CAD 175,000, and costs of CAD 81,755. Cawaling faces permanent market-access bans, and RTAX is permanently barred from trading or advising in securities or derivatives.
EnforcementInvestigations & enforcement actionsFraud and scamsSecurities offerings and listings
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2025-07-14•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy reported on the Economic Integration Committee's fifth 2025 meeting, chaired by Minister Abdulla bin Touq Al Marri, focusing on regulatory enhancements. Key developments include digital integration of the National Economic Register with emirate-level licensing authorities and preparations for the 2027 Financial Action Task Force mutual evaluation. The UAE's removal from the European Parliament’s high-risk third-country list was attributed to its robust regulatory framework and adherence to AML/CFT standards.
Policy & regulationImplementation, projects & pilots
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2025-07-14•Nepal•Central Bank of Nepal
The Central Bank of Nepal released a report from its Banking Sector Reform Suggestion Task Force, aimed at enhancing the banking sector. The task force, led by Prof. Dr. Rewat Bahadur Karki, submitted both preliminary and final reports to Governor Prof. Dr. Bishwanath Paudel.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2025-07-14•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance amended the General Regulation of Insurance Activity to streamline reserve valuation for judicial claims and enhance insurers' technical solvency, especially in workers’ compensation risks. The changes standardize reserve valuation procedures and introduce a transitional capital requirement allowing insurers to count court settlement payments toward up to 30% of the minimum required capital. These amendments apply to financial statements closed from 30 June 2025 onwards.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-14•Nepal•Nepal Insurance Regulatory Authority
The Nepal Insurance Regulatory Authority mandates life and micro-life insurers to include first insurance premiums, renewal premiums, and lapsed policies in professional target-setting for the next fiscal year. This applies to all levels of staff and offices. Insurers are also instructed to prioritize policies with regularly paid premiums to address issues of reduced access for low-income groups and increased policy lapses.
Policy & regulationRules & requirementsSales and distribution
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2025-07-14•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi has launched the Refinitiv platform for real-time money market transactions, facilitating interbank trades in foreign and local currencies. This initiative aims to modernize Burundi's money and foreign exchange market operations and align them with regional central banks. The platform is expected to enhance information access and improve commercial banks' responsiveness to customer funding requests.
Policy & regulationImplementation, projects & pilotsTradingMarket infrastructure
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2025-07-14•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) confirmed that Jane Street has complied with the July 3, 2025 interim order by depositing INR 48,435,770,168 into an escrow account with a lien in SEBI's favor. Jane Street made the deposit without prejudice to its legal rights and has requested the lifting of certain restrictions. SEBI is reviewing this request in line with the interim order's directions.
EnforcementInvestigations & enforcement actionsOther
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2025-07-14•Moldova•National Bank of Moldova
The National Bank of Moldova published statistical updates on the national currency in circulation, detailing the structure and total volume of cash as of 31 December 2024. The report includes comparative data for year-end positions from 2023, 2022, 2021, 2020, and 2018.
Data & statisticsCurrency and cash management
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2025-07-14•Moldova•National Bank of Moldova
The National Bank of Moldova's Q1 2025 assessment of the insurance sector shows a rise in assets and technical reserves, but a decline in average solvency and liquidity indicators, with net profit falling by 52.0%. Total insurer assets reached MDL 5,566.8 million, with a solvency ratio for general insurance at 172.1% and life insurance at 559.6%. Gross written premiums increased by 10.6% year on year, while claims paid rose by 17.2%.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskPrudential risks
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2025-07-14•Taiwan•Central Bank of Taiwan
The Central Bank of the Republic of China (Taiwan) granted foreign exchange business permissions for June 2025, including CTBC Bank's issuance of dollar-denominated structured notes linked to equity derivatives. Cathay Life Insurance and Nan Shan Life Insurance were approved for foreign exchange-related wealth management activities, while Tarobo Investment Advisors LTD received authorization for offshore fund distribution. By end-June 2025, Taiwan had 3,450 authorised banks, including 3,410 domestic, three Mainland, and 37 foreign banks.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-14•United States•U.S. Department of the Treasury
The U.S. Treasury’s Terrorist Financing Targeting Center announced joint designations of three ISIS facilitators in Africa, marking its eighth round of such actions. The designees, Zayd Gangat, Hamidah Nabagala, and Abdiweli Mohamed Yusuf, are key financiers and operatives supporting ISIS activities in the Democratic Republic of the Congo, Somalia, and South Africa. They were designated by the Office of Foreign Assets Control under Executive Order 13224.
EnforcementSanctions & designationsNew sanctions designations
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2025-07-14•Cayman Islands•Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority has updated its Virtual Asset Service Providers application form on the REEFS portal to streamline registration, licensing, and waiver processes. The revised form, effective 8 July 2025, includes additional questions and clarifies document requirements to enhance submission completeness and align with the Virtual Asset Service Provider Act (2024 Revision) and related regulations.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-14•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority has initiated a consultation on revised Guidelines for information exchange within Colleges of Supervisors to enhance cooperation among National Competent Authorities in the European Economic Area. The proposal updates the 2015 framework by adding a Guideline on the group Own Risk and Solvency Assessment report and revising technical annexes and legal references. The Guidelines aim to supplement existing operational guidelines for supervisory colleges.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-07-14•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) submitted three draft technical standards to the European Commission and published revised guidelines for Solvency II Directive implementation. The package addresses insurance undertakings within groups, cross-border activity assessment, public-sector exposure treatment in capital calculations, and updates on undertaking-specific parameters. The European Commission has three months to decide on adopting these standards, which aim to guide Solvency II framework's new features.
Policy & regulationRules & requirementsPrudential risksSupervision process and methodologies
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2025-07-14•Middle East•Islamic Development Bank
Moody’s reaffirmed the Islamic Development Bank's Aaa long-term and P-1 short-term issuer ratings with a stable outlook, citing robust capital, strong liquidity, and member support. Key factors include high liquid assets, low leverage, and benchmark sukuk issuer status. Despite challenges in conflict regions, prudent risk management and a diversified sovereign portfolio have maintained asset performance stability.
ResearchCredit ratings
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2025-07-13•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed financial penalties totaling KD 33,000 on Dimah Capital Investment Company for breaches of anti-money laundering and counter-terrorism financing regulations. The sanctions were decided at the Board meeting on 9 July 2025, addressing violations of specific articles within the Executive Bylaws of Law No. 7 of 2010.
EnforcementSanctions & designationsAML and CFT
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2025-07-13•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority reported an alleged crime under Article 118 of Law No. 7 of 2010 to the Attorney General, involving a licensed investment portfolio manager accused of using internal client information to trade shares of First Company for Local Fuel Marketing, Kuwait Business City Real Estate Company, and Soor Fuel Marketing Company for personal gain between October 2024 and March 2025. The case has been referred for further action.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-13•Peru•Central Bank of Peru
The Central Bank of Peru reported a 3.9% year-on-year increase in total formal employment in May, marking 14 consecutive months of growth. Private-sector formal employment rose 5.1%, with significant gains in services, agriculture, and commerce.
Data & statistics
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2025-07-13•Mexico•CONDUSEF
The National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported that 15 financial institutions in the Financial Services Providers Registry System (SIPRES) were impersonated by entities deceiving credit seekers using their names and branding. The incidents involved unauthorised use of commercial names, corporate names, logos, and sometimes fiscal or administrative data. CONDUSEF advised users to verify institutions through SIPRES to ensure they are duly constituted and registered.
SupervisionAlertsFraud and scams
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2025-07-13•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Supervisory Board of the Central Bank of Curaçao and Sint Maarten addressed concerns over its former Financial and Economic Director's departure, emphasizing safeguards and supporting the Minister of Finance's concerns. The current statute lacks provisions for external transfers and standardized dismissal procedures, but revisions supported by the International Monetary Fund will introduce a cooling-off period for executive board members. The revised statute is expected to be submitted to the governments later this year.
Policy & regulationRules & requirementsLeadership change and appointments
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2025-07-13•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services highlighted Chairman French Hill's remarks on upcoming votes for the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act during 'Crypto Week'. Hill emphasized the CLARITY Act's role in defining digital asset regulations and noted Senate efforts on the GENIUS Act for a dollar-backed stablecoin. The committee advanced these issues through votes and discussions, including a 32-19 vote on the CLARITY Act.
Policy & regulationRules & requirementsCBDC
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2025-07-13•Egypt•Central Bank of Egypt
The Central Bank of Egypt's Governor Hassan Abdalla attended the Annual Meeting of the Permanent Bureau of the Council of Arab Central Banks and Monetary Authorities’ Governors in Abu Dhabi. The meeting reviewed outcomes from various Arab committees and task forces, and discussed preparing the Arab Financial Stability Report and Joint Arab Economic Report for 2025. These reports are slated for approval at the Council’s September 2025 meeting.
Policy & regulationCooperationCross-border cooperation
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2025-07-13•China•China Securities Regulatory Commission
The China Securities Regulatory Commission's disciplinary inspection group and Wuxi authorities concluded an investigation into Wu Guofang, former deputy director of the CSRC Legal Department, uncovering serious violations, including suspected bribery. Wu was expelled from the Communist Party, dismissed from public office, and had illicit gains confiscated. The investigation highlighted misconduct such as misuse of influence, obstruction of reviews, and illegal acceptance of gifts and property.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-07-13•Bangladesh•Bangladesh Securities & Exchange Commission
The Bangladesh Securities and Exchange Commission has revised its 2021 directive on cash dividends, mandating issuers and mutual funds to transfer declared dividends into a dedicated bank account for disbursement, verified by a bank certificate. For annual or final dividends, transfers must occur around the AGM or record date, with specific procedures for interim dividends and banking companies. The directive is effective immediately.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-13•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority has instructed banks to defer loan instalment collections from individual borrowers in the Gaza Strip until the end of 2025, extending previous measures due to the ongoing conflict. The loan portfolio in the region is approximately USD 1 billion, with banks facing significant losses from the suspension. Loan repayments will gradually resume in January 2026, starting with 25% of monthly instalments and capping at 50% of the borrower's salary by mid-2026.
Policy & regulationRules & requirementsLending
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2025-07-12•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority issued Resolution No. 101 of 2025 to advance the Capital Market System Development Program, implementing changes under Law No. 7 of 2010. Key initiatives include licensing the Kuwait Clearing Company for central broker activity, upgrading brokerage firms, and enhancing cash settlement processes. Systems for bond and sukuk offerings and exchange-traded fund indices have been developed, with draft amendments to the executive regulations prepared to support these initiatives.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-07-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force (MENAFATF) conducted a regional workshop in Cairo to enhance technical capabilities in investigating and prosecuting money laundering, with participation from over 40 experts from 14 member countries. The event, hosted by Egypt’s Money Laundering and Terrorist Financing Combating Unit, covered financial investigations, legal foundations for prosecution, and cooperation mechanisms.
Policy & regulationImplementation, projects & pilotsAML and CFTDomestic cooperation
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2025-07-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The MENAFATF held a regional workshop in Cairo to enhance technical capabilities in investigating and prosecuting money laundering, in collaboration with various international organizations. Over 40 experts from 14 member countries attended, focusing on financial investigations, legal foundations, and beneficial ownership information.
Policy & regulationImplementation, projects & pilotsAML and CFTDomestic cooperation
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2025-07-12•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has amended the Law on Credit Institutions, enhancing its powers for emergency liquidity support and collateral enforcement, effective 15 October 2025. The law allows the central bank to issue special loans at 0% interest without collateral and introduces rules on collateral seizure and attachment. The amendments were approved by the National Assembly with overwhelming support.
Policy & regulationRules & requirementsOther
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2025-07-12•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a workshop on restructuring the People’s Credit Funds and the Vietnam Cooperative Bank from 2025 to 2030 to enhance microfinance for rural low-income groups. Issues include weak governance, non-performing loans over 5.5%, and limited product diversification. The State Bank will incorporate feedback, finalize the scheme for government submission, and urge regional units and credit funds to improve operations and gather further input.
Policy & regulationReform agendas & prioritiesOther
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2025-07-12•China•China Securities Regulatory Commission
The China Securities Regulatory Commission and Suzhou City authorities concluded a disciplinary investigation into Li Xiaoqiang, former deputy director of the CSRC’s Issuance Supervision Department. Li was expelled from the Communist Party, had illegal gains confiscated, and faces prosecution for abusing regulatory power and engaging in corrupt practices, including illegal stock trading and accepting bribes. The case will be transferred to the procuratorate for further examination and prosecution.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-07-11•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported a 2.2% increase in the Monthly Index of Economic Activity (IMAE) for April 2025 compared to April 2024, with cumulative growth of 2.7% from January to April. Sectoral gains were led by hotels and restaurants (13.6%) and financial services (4.6%), while fishing and aquaculture declined by 48.9%. The report attributes mining growth to higher gold extraction and the contraction in fishing to reduced shrimp output.
Data & statisticsEconomic data and developments
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2025-07-11•Italy•Ministry of Finance (Italy)
At the Italian Banking Association assembly, the Ministry of Economy and Finance noted that despite stronger balance sheets, Italian banks haven't eased credit conditions and should refocus on intermediation. Giancarlo Giorgetti highlighted a shift from credit intermediation to wealth management, reducing firm lending. He emphasized transitioning from Covid-era public support to standard credit assessment amid tighter European fiscal constraints.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2025-07-11•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama reported that the IMF’s Regional Technical Assistance Center conducted a course in Panama City on 10–11 July for the Resolution and Crisis Management Committee of the Central American Council of Superintendents. The training aimed to enhance supervisors' capacity to evaluate banks' recovery plans, focusing on operational continuity, governance, and resilience. Superintendent Milton Ayón Wong emphasized recovery plans as a critical defence mechanism during stress periods.
Institutional developmentCooperation & capacity buildingRecovery and resolution
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2025-07-11•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced Aedifica NV/SA's intention to launch a voluntary public exchange offer for all voting shares in Cofinimmo NV/SA, offering 1.185 new Aedifica shares per Cofinimmo share. Conditions include achieving over 50% ownership of Cofinimmo shares and no significant adverse changes in specified indices or EPRA NTA per share. If Aedifica acquires 95% of shares, it plans a simplified squeeze-out offer.
SupervisionRegulatory reporting
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2025-07-11•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission announced a USD 15,000,000 commercial paper issuance in the domestic market, structured as a private offer to institutional investors. Etu Energias, S.A. issued the paper, with Kyros – Sociedade Distribuidora de Valores Mobiliários, S.A. as the intermediation agent. The Commission clarified that such private offers do not require prior regulatory approval under Articles 18 and 19 of the legal regime for commercial paper.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-07-11•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission concluded the Programa Emergentes roadshow in Luanda, linking SMEs with venture capital managers and investors for capital market funding. Hosted at the National School of Administration and Public Policies, the event featured business plan presentations from eight companies and emphasized entrepreneurship support, financial inclusion, and investor engagement. CMC Executive Administrator Vasco Januário and INAPEM Administrator Ana Celeste highlighted the programme's focus on technical guidance, mentoring, and expanding access to investor networks.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-07-11•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) issued a warning about the "halo effect" leading investors to overlook risks when authorised crypto-asset service providers offer both regulated and unregulated products. ESMA advises these providers to clearly communicate the regulatory status of each offering to prevent client confusion and ensure fair, professional conduct.
SupervisionAlertsConsumer and investor protection
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2025-07-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned New South Wales insurance broker Jason Damien Prasad from financial services and credit activities after his fraud convictions. Convicted on 28 November 2024, Prasad received a 16-month intensive correction and must pay AUD 16,175.25 in compensation and fines. Effective 3 July 2025, the bans also prevent him from controlling or working for any financial services business, with the decision on ASIC’s banned and disqualified register. Prasad may appeal to the Administrative Review Tribunal.
EnforcementSanctions & designationsFraud and scams
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2025-07-11•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance highlighted the Capital Markets Tribunal (CMT) as an independent forum for resolving capital markets disputes, including ownership issues and delayed payments, and reviewing supervisory authority decisions. Chaired by a High Court judge, the CMT interprets capital markets laws to prevent misconduct and support market integrity, focusing on investor protection against embezzlement and rule breaches.
Policy & regulationGuidance & interpretationOther
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2025-07-11•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a revised draft decision on asset return procedures for clients and depositors under asset blocking sanctions. It also endorsed rule-making initiatives, including amendments to Cabinet resolutions and draft laws on investment funds and sanctions. Additionally, the Commission addressed registration and licensing matters, including share issue registrations and supervisory actions for professional participants.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-07-11•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market approved a revised procedure for returning blocked assets to Freedom Finance Ukraine LLC clients. Developed with input from the National Bank of Ukraine, the Central Depository, and the Settlement Center, it outlines asset return steps and provides a legal basis for client claims. Official approval by the NBU and registration by the Ministry of Justice are pending.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-07-11•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market, key ministries, and the European Bank for Reconstruction and Development signed a memorandum to develop an integrated capital markets infrastructure. This cooperation aims to enhance market efficiency, transparency, and investor appeal, while supporting economic growth and reducing capital costs. The initiative also seeks to integrate Ukraine’s capital market into the global financial system.
Policy & regulationCooperationMarket developmentMarket infrastructure
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2025-07-11•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) appointed Marije Lely as a statutory board member to lead its digital transformation and oversee operational support, effective 1 October 2025. Lely, with 20 years of experience in financial services, joins the board alongside Laura van Geest, Hanzo van Beusekom, and Jos Heuvelman.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-11•Nigeria•Nigeria Securities & Exchange Commission
The Nigeria Securities & Exchange Commission has issued a warning against Forsman & Bodenfors LTD, stating it is not registered and is unauthorized to operate in the Nigerian capital market. The entity is suspected of being a fraudulent scheme, falsely presented as a branch of a Swedish company, and promoted online. The public is advised to avoid engagement and verify firms' statuses through the Commission's portal.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-11•Georgia•National Bank of Georgia
The National Bank of Georgia's Governor, Natia Turnava, addressed the 27th Board of Governors meeting of the Black Sea Trade and Development Bank, focusing on geopolitical challenges and the Bank's regional exposure. A business forum on resilience in small economies and cooperation with the BSTDB was held alongside the meeting, with participation from senior officials and international organizations.
OtherCross-border cooperation
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2025-07-11•Georgia•National Bank of Georgia
The National Bank of Georgia has revoked the brokerage license of LLC Fidelis Wealth Management and placed the firm into liquidation by decree of the Governor. Creditors must submit documentation to the liquidator, Roin Tsatsiashvili, within 30 days to have their claims recognized.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-11•Georgia•National Bank of Georgia
Vice Governor Ekaterine Galdava of the National Bank of Georgia attended the World Bank’s Global Payments Week 2025 in Brasília, discussing instant payment systems and digital financial services security. The event, with representatives from over 70 countries, addressed digital payment innovations and cybersecurity. Galdava also engaged with central bank officials and the European Central Bank on risk management and regulatory interoperability.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-07-11•China•Central Bank of the Republic of China
The People's Bank of China and the Central Bank of Egypt signed a memorandum to enhance financial cooperation, focusing on local currency settlements and CBDC innovation. The agreement includes business exchanges, information sharing, and aims to boost local currency use. Additionally, China UnionPay and the Cross-border Interbank Payment and Clearing company signed agreements with Egyptian partners to expand payment services and promote cross-border renminbi transactions.
Policy & regulationCooperationCross-border cooperation
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2025-07-11•Europe•European Banking Authority
The European Banking Authority has launched three public consultations on draft Regulatory Technical Standards and Guidelines to support the new Capital Requirements Directive framework for EU branches of third-country credit institutions. The proposals address booking arrangements, eligible instruments for capital endowment, and supervisory cooperation to enhance consistency and comparability across Member States.
Policy & regulationRules & requirementsOther
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2025-07-11•Ukraine•National Bank of Ukraine
The National Bank of Ukraine signed the Human Capital Resilience Charter at the Ukraine Recovery Conference 2025 to promote inclusive HR practices for war-affected employees, including veterans and displaced workers. Developed with the Ministry of Economy and the Ministry of Veterans Affairs, the Charter outlines principles for veteran employment, reintegration, and workforce sustainability. Signatories, including major Ukrainian companies, commit to integrating these principles into HR strategies, with state support for HR development and workplace modernisation.
Policy & regulationCooperationOther
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2025-07-11•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) reported an 18.4% increase in direct insurance production to over EUR 4.2 billion in Q1 2025, while direct claims paid decreased by 17.8% to EUR 2.34 billion. Insurers' investment portfolios totaled EUR 52.7 billion, with solvency coverage ratios declining to 204% for the Solvency Capital Requirement and 535% for the Minimum Capital Requirement. Life insurance grew 30.2% to EUR 2.00 billion, driven by a 72.1% rise in linked life, while non-life insurance increased 9.4% to EUR 2.20 billion, led by disease and motor sectors.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-11•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority reported a sharp rise in pension fund contributions in Q1 2025, with total contributions reaching EUR 218.5m, up 85% year on year. Despite this, total assets under management fell 1.8% to EUR 18.9bn due to financial losses. The number of pension funds increased to 242, with a stable portfolio mix but higher exposure to investment funds.
SupervisionRisk monitoring & watch pointsActivity and performance reporting
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2025-07-11•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC reported on two financial crime initiatives: findings from its Cryptocurrency Taskforce and a Fintel Alliance operation. The taskforce found individuals aged 60–70 frequently used crypto ATMs, often linked to scams or money laundering. The Fintel Alliance, involving financial analysts and law enforcement, detected criminal financial flows. Future steps and alliance expansion plans were discussed with the Minister for Home Affairs.
Policy & regulationImplementation, projects & pilots
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2025-07-11•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance released Minister Kyriakos Pierrakakis’ speech highlighting fiscal achievements, including a 4.8% primary surplus and reduced public debt to 153.5% of GDP. The speech emphasized the strategic importance of the Euronext proposal for the Athens Stock Exchange and advocated for European competitiveness by removing internal market barriers. Key economic indicators included 2.3% growth, exports at 42% of GDP, and advancements in tax administration digitalisation.
Policy & regulationReform agendas & prioritiesOther
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2025-07-11•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) updated its Responsible Lending Approach to refine wording and clarify guidance on loss calculations and serviceability assessments, incorporating the Low-Cost Credit Contracts regulatory regime and clarifying APRA guidance on interest rate buffers for residential mortgage loans, without expanding to issues like unjust transactions and broker conduct.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-07-11•T?rkiye•Capital Markets Board of Türkiye
The Capital Markets Board of Türkiye hosted the IOSCO Committee 1 meeting at Borsa Istanbul, focusing on accounting, auditing, and public disclosure. Discussions included sustainability integration, non-GAAP financial measures, and dialogues with bodies like ESMA. The event featured subcommittee sessions and working groups, with nearly 50 participants from 20 countries.
Policy & regulationCooperationAccounting and financial reporting
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2025-07-11•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau has reached a settlement with FirstCash, Inc. and its subsidiaries over alleged violations of the Military Lending Act (MLA) concerning pawn loans to servicemembers. The proposed order, pending court approval, mandates USD 5 million for redress, a USD 4 million payment to the CFPB’s victims relief fund, and ongoing MLA compliance measures.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-07-11•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau has appointed three new Convenors and seven new members to the Financial Reporting Review Panel (FRRP) for a three-year term starting 16 July 2025. These appointments, under the Accounting and Financial Reporting Council Ordinance, support statutory enquiries into non-compliance in listed entities’ financial reports. The FRRP assists the Accounting and Financial Reporting Council by forming committees to submit enquiry reports for consideration and follow-up action.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-11•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina, in collaboration with the World Bank, has released a methodology for supervisory stress resilience testing focused on climate risks. This initiative aims to enhance banks' capacity to assess climate risks, understand data limitations, and identify best practices for future regulatory work. Banks are required to complete and submit the prescribed templates as part of this exercise.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-07-11•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency released a statement from William J. Pulte, chairman of Fannie Mae and Freddie Mac, expressing support for reports of Jerome Powell's potential resignation, suggesting it would benefit the economy. The agency reiterated its regulatory role over Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks, which collectively provide over USD 8.5 trillion in funding for US mortgage markets.
OtherLeadership change and appointments
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2025-07-11•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia, with the Ministry of Finance and the Ethiopian Securities Exchange, has initiated securities trading and listed Government of Ethiopia Treasury bills on the Ethiopian Securities Exchange. The central bank emphasized establishing the Central Securities Depository and modernizing market infrastructure for transparent and efficient trading. Governor Mamo Mihretu described this as a step towards enhancing the capital market ecosystem.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listingsMarket infrastructure
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2025-07-11•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission secured disqualification orders against five former directors of Superb Summit International Group Limited, barring them from directorial roles for five to ten years. The Court found these directors involved in schemes to misappropriate assets through acquisitions of non-existent or low-value assets, causing significant losses. The directors admitted to breaches of duty, and proceedings against other former directors are ongoing.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-11•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) held meetings in Iquitos with local councils and financial institutions to discuss corporate governance and capital strengthening. Led by Superintendent Sergio Espinosa Chiroque, these meetings are part of SBS's strategy to enhance dialogue with municipal councils and cooperatives, aiming to strengthen management and transparency. The SBS highlighted similar engagements in Cusco and Piura, emphasizing the role of microfinance institutions in serving nearly six million people.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-07-11•France•Bank of France
The Bank of France’s Observatoire des Délais de Paiement reported worsening inter-company payment behaviour in 2024, with private sector late payments averaging 13.6 days, above the European average. Large companies were the worst payers, impacting SMEs and microenterprises by EUR 15bn. The report noted improved central government payment times, regional disparities in local authorities, deteriorating public healthcare payments, intensified DGCCRF enforcement, and a new good-practice guide.
Data & statisticsEconomic data and developments
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2025-07-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent documents falsely claiming HKMA issuance, alleging an investment company's assets are frozen and advising asset transfers to a partner institution for a fee. The HKMA confirmed the documents are fake, and neither the company nor the partner institution is regulated by the HKMA. The public is urged to verify documents and institution regulation status via HKMA's official registers and report suspected fraud to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-11•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 Dah Sing Bank, Limited. The HKMA emphasized that banks do not send SMS or emails with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-11•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about several websites not linked to authorized entities under Article 5 of Law 87(I)/2017. Investors are advised to verify the licensing status of firms on CySEC’s website before engaging in investment activities. The English text of the warning is unofficial and not legally binding.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-11•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 appointed Erbol Erlanovich Toybayev to the executive body in the securities market. His responsibilities will focus on security, administrative and economic matters, and information technology.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-07-11•Samoa•Central Bank of Samoa
The Central Bank of Samoa reported on a five-day regional workshop in Apia focused on monetary policy analysis and forecasting, hosted by the International Monetary Fund and its affiliates, with participation from central banks across the Pacific region. Governor Maiava Atalina Ainuu-Enari emphasized the importance of monetary policy within macroeconomic frameworks and the role of central bankers in policy implementation.
Policy & regulationImplementation, projects & pilotsMonetary policy decisions and developments