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2025-07-11•Global•Bank for International Settlements
The Bank for International Settlements released a BIS Bulletin analyzing stablecoins' rapid growth and integration with traditional finance, highlighting policy challenges. It notes significant market concentration, price volatility, and integrity issues, with stablecoin usage impacting monetary sovereignty and safe-asset markets. It advocates for tailored regulatory frameworks leveraging blockchain traceability and emphasizes international cooperation and technological neutrality.
Policy & regulationInternational standards & recommendationsStablecoins
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2025-07-11•United Kingdom•UK Parliament
The UK Parliament’s Treasury Select Committee released the Government’s response to its inquiry into cash acceptance, confirming ongoing monitoring by the Bank of England through its consumer survey. The response highlights that UK legislation does not mandate cash acceptance, allowing businesses to refuse cash, potentially affecting vulnerable groups. The Committee will continue to monitor developments and connect further measures to the Government’s upcoming Financial Inclusion Strategy.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-11•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission's Secretary-General, Chuchat Pramoolpol, emphasized at the THAIFA Convention 2025 the need for life insurance agents to modernize their roles by focusing on trust and advisory services rather than mere product sales. He highlighted the importance of credibility and customer support, noting that agents account for over 50% of the THB 650 billion life insurance market.
Policy & regulationGuidance & interpretationOther
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2025-07-11•Middle East•Arab Monetary Fund
The Arab Monetary Fund’s Training and Capacity Development Institute conducted ten specialized training courses in June 2025, engaging 299 trainees from various Arab countries in areas such as macroeconomics, financial stability, and governance, with support from partners like the International Monetary Fund and HEC Paris.
Policy & regulationImplementation, projects & pilotsCapacity building
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2025-07-11•United Kingdom•Joint Money Laundering Steering Group
The Joint Money Laundering Steering Group has finalized amendments to Part I of its guidance, updating specific paragraphs and submitting them to HM Treasury for approval. Changes affect paragraphs 5.3.138A, 5.3.138B, 5.3.97A, 5.3.99, 5.6.36 to 5.6.38, and 2.16 to 2.24. The revised text is accessible under the guidance's "Revisions" tab.
Policy & regulationGuidance & interpretationAML and CFTRegulatory burden
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2025-07-11•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) reminded mutualistic property protection associations operating without authorization to complete mandatory registration by 15 July 2025 under Complementary Law No. 213 of 2025. Over 1,300 associations have registered since the system's launch in April. Non-compliance may result in administrative, civil, and criminal liability.
Policy & regulationRules & requirementsLicence approval
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2025-07-11•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has authorized Highland Rural Bank, Inc. to change its corporate name to HighlandBank. The Securities and Exchange Commission approved the amended Articles of Incorporation and By-Laws on 9 June 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-11•South Africa•South African Reserve Bank
The South African Reserve Bank released June 2025 settlement statistics for the Southern African Development Community Real-Time Gross Settlement system, noting 153,859 transactions valued at ZAR 235.39 billion. Cumulative settlements reached 5,159,610 transactions totaling ZAR 17.09 trillion. The TCIB payments scheme processed 229 transactions worth ZAR 323.67 million, with participation from 15 countries and 87 banks.
Data & statisticsPayments and payment systems
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2025-07-11•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) is working with industry stakeholders to integrate ESG concepts into pension fund investment policies, following National Monetary Council Resolution 5202/2025. Recent meetings with Anapar and Apep highlighted the need for a practical ESG framework adaptable to various pension fund realities, focusing on social and governance criteria, manager training, and cost-effective implementation. PREVIC plans to update PREVIC Resolution 23/2023 by year-end through a participatory public consultation process.
Policy & regulationRules & requirementsESG
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2025-07-11•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on three websites and instructed providers in Italy to block access. IVASS highlighted that 262 sites have been subject to cease-activity orders since November 2023 and advised consumers to verify the authorization of insurers and intermediaries through IVASS registers.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-11•Germany•German Bundesbank
The German Bundesbank's May 2025 capital market statistics show a significant expansion in debt securities, with gross issuance on the German bond market at EUR 135.6bn and a total outstanding volume increase of EUR 58.8bn. The public sector increased bond market liabilities by net EUR 23.0bn, while credit institutions recorded net issuance of EUR 12.7bn. Foreign investors were the largest net buyers of domestic bonds, acquiring EUR 30.2bn, as the Bundesbank's bond holdings decreased by EUR 4.1bn due to maturing Eurosystem purchase programme positions.
Data & statisticsFinancial and market indicators
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2025-07-11•Germany•German Bundesbank
The German Bundesbank reported a significant drop in Germany's current account surplus to EUR 9.6bn in May 2025, driven by a deficit in "invisible" transactions and a reduced goods trade surplus. The goods trade surplus decreased to EUR 14.5bn due to weaker exports, particularly to the United States, while net primary income fell sharply, contributing to the "invisible" transactions deficit. Net capital exports rose to EUR 29.1bn, with notable activity in direct and portfolio investments.
Data & statisticsBalance of payments and other external statistics
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2025-07-11•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the People’s Bank of China expanded cooperation in green and transition finance at the 3rd Singapore-China Green Finance Taskforce meeting. Key discussions focused on taxonomy interoperability, cross-border green financing, and technology use in sustainable finance. Progress was reported in taxonomy development, green product initiatives, and technology-enabled emissions monitoring.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-11•Serbia•National Bank of Serbia
The National Bank of Serbia reported gross foreign exchange reserves at EUR 27,403.6 million and net reserves at EUR 23,076.4 million by June 2025. Inflows included EUR 465.0 million from market interventions and EUR 34.4 million from banks' reserve requirements, while outflows were EUR 263.7 million due to state deleveraging. Interbank foreign exchange turnover rose to EUR 765.1 million in June, with the dinar stable against the euro.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2025-07-11•Serbia•National Bank of Serbia
The National Bank of Serbia's Q1 2025 report on the insurance sector indicates stable market conditions with 20 (re)insurance companies, showing growth in balance sheets and premiums, and solvency and liquidity ratios above requirements. Total premiums rose 8.0% year-on-year to RSD 45.0 billion, with non-life insurance dominating at 82.9%. The report notes upcoming supervisory and regulatory changes for alignment with the EU's Insurance Distribution Directive and Serbia's Solvency II strategy.
Data & statisticsCapital adequacyAsset quality
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2025-07-11•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) cancelled the issuer registration of TBM-Têxtil Bezerra de Menezes S/A under Article 14 of CVM Resolution 10 due to non-compliance with information requirements and a suspension exceeding 12 months. Consequently, the company's securities are barred from trading on regulated and unorganised markets. The cancellation does not absolve the company or its stakeholders from liability for previous infractions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-11•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held a training session for media representatives on National Press Day, focusing on its monetary policy and communication strategies. The session covered the Bank's new operational framework, policy instruments, and analysis processes, emphasizing the importance of price stability. Participants' questions were addressed, and the event marked the 150th anniversary of Azerbaijan's national press.
Financial literacy & educationMonetary policy decisions and developments
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2025-07-11•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has raised the limit on banks' forward transactions with nonresident holders of PYG-denominated Public Treasury Bonds issued in international markets to 50% of effective capital from 10%. The move expands foreign exchange hedging capacity for overseas investors as demand for local-currency sovereign debt increases. Nonresident participation in the latest June auction reached 42%.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-07-11•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has launched a public consultation on a mandatory fraud reduction strategy and monitoring rule for participants in Paraguay's payment system. The framework targets fraud in fund transfers, especially in the Instant Payment System and the Real Time Gross Settlement System. Comments are due by July 31, 2025.
Policy & regulationRules & requirementsPayments and payment systemsFraud and scams
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2025-07-11•Switzerland•Swiss National Bank
The Swiss National Bank (SNB) plans to build a new cash logistics centre in Bülach, Zurich, relocating its cash infrastructure from its Zurich head office. This investment aligns with the SNB's mandate to ensure cash supply, supported by survey results indicating 95% of Swiss citizens want cash to remain available. Additionally, the SNB is developing a tenth banknote series to uphold functionality and security standards.
Institutional developmentProcurementCurrency and cash management
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2025-07-11•Ukraine•Ministry of Finance (Ukraine)
Ukraine's Ministry of Finance signed a Memorandum of Understanding with Expertise France for international technical assistance on anti-money laundering and counter-terrorist financing, including preparation for Ukraine’s next MONEYVAL evaluation. The EU project, led by Expertise France and supported by the German Agency for International Cooperation, will provide expert recommendations, training, and study visits to EU institutions. The initiative is financed by the European Commission.
Policy & regulationCooperationAML and CFT
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2025-07-11•Ukraine•Ministry of Finance (Ukraine)
The Ministry of Finance of Ukraine, the Ministry of Economy, the National Bank of Ukraine, the National Securities and Stock Market Commission, and the European Bank for Reconstruction and Development signed a Memorandum of Understanding to develop an integrated capital market infrastructure. The initiative includes creating a unified market services framework, establishing a single holding with at least 25% state participation, selecting an international strategic investor, launching a new stock exchange, and optimizing governance for the National Depository and Settlement Center.
Policy & regulationCooperationMarket development
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2025-07-11•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission hosted the "Juan with SEC CARAVAN" during MSME Development Week, focusing on reforms to lower costs, reduce red tape, and expand financing access for micro, small, and medium enterprises. The event featured learning sessions on SEC policies, capital-market fundraising, and operational changes, including a 50% fee reduction for corporate document copies and plans to expand the OneSEC facility. Upcoming initiatives include finalizing a fee-reduction policy and promoting the Personal Property Security Act to enhance business financing.
Policy & regulationRules & requirementsSME financing
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2025-07-11•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency has prohibited Cooperative Glas poduzetnika 2.0 from unauthorized investment intermediation and holding client funds without safeguards. The cooperative must cease activities and return uninvested funds after a supervisory inspection revealed unauthorized investment services and inadequate client money protection.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-11•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has extended the deadline for JKN Global Group Public Company Limited to submit its rectified 2023 financial statements to 9 September 2025. This extension allows for a comprehensive special audit addressing issues identified by the SEC, including expanded scope on transactions involving creditors, debtors, and content sales and purchases.
SupervisionInterventionsAuditing
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2025-07-11•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has imposed civil sanctions on Mr. Perajed Suwannapasri, former director of Gift Infinite Public Company Limited, for failing to perform his duties responsibly. Sanctions include a THB 982,265 penalty, reimbursement of investigative expenses, and a 30-month ban from serving as a director or executive in securities companies. The SEC found Mr. Perajed facilitated a competing business, benefiting from it and breaching the Securities and Exchange Act B.E. 2535 (1992).
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-11•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses published an interview with Babett Pavlics, CEO of KELER CCP, discussing future trends in clearing. Pavlics anticipates enhanced integration among clearing houses, expanded energy-related products, and increased use of AI and blockchain for automation and risk management. She also emphasizes the importance of visibility in career achievements and balancing professional and personal support.
Other
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2025-07-11•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC issued a Special Bulletin on detecting financial activities linked to evading counter-proliferation sanctions. It highlights trade-based money laundering, complex corporate structures, and virtual currency obfuscation, focusing on North Korea, Iran, and Russia. Reporting entities must file suspicious transaction reports when suspecting money laundering, terrorist financing, or sanctions evasion.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-11•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria invites research proposals for its CBN Knowledge Acceleration Programme workshops in Abuja, August 2025. Proposals should focus on development, international finance, or regulation, emphasizing systemic risks from nonbank financial intermediaries and implications for monetary policy and financial stability. Selected researchers will refine proposals into working papers for potential publication.
Policy & regulationImplementation, projects & pilotsFintech and insurtechFinancial stability and systemic risk
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2025-07-11•Tanzania•Bank of Tanzania
The Bank of Tanzania, via the National Council for Financial Inclusion, launched the Tanzania Financial Inclusion Awards 2025 to honor contributions to financial inclusion for underserved communities. The awards cover sectors like banking, microfinance, and insurance, with categories focusing on women, youth, and MSME financing, among others. Evaluation will be based on scale, impact, and innovation, with submissions open until 31 July 2025.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-07-11•Sweden•Finansinspektionen
Finansinspektionen has initiated a supervisory analysis to evaluate how credit institutions measure asset quality and implement the IFRS 9 expected credit loss framework. The review will assess models and processes for expected credit losses, guided by the European Banking Authority's guidelines, across a sample of nine institutions.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2025-07-11•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services outlined its "Crypto Week" agenda, highlighting three digital-asset bills for a full House vote: the CLARITY Act on crypto market structure, the GENIUS Act on dollar-backed payment stablecoins, and the Anti-CBDC Surveillance State Act. Chairman French Hill noted the CLARITY Act builds on previous legislation, while the GENIUS Act proposes stablecoins backed by short-dated US Treasuries. Hill emphasized that the Anti-CBDC Surveillance State Act requires congressional authorization for a consumer CBDC, citing privacy concerns.
Policy & regulationRules & requirementsCBDC
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2025-07-11•Eswatini•Central Bank of Eswatini
Central Bank of Eswatini Governor Dr. Phil Mnisi discussed the potential impact of recent geopolitical developments, including US tariff announcements and executive orders on foreign aid, on Eswatini's economy. The focus was on implications for inflation, monetary policy, and fiscal challenges.
Monetary policyMonetary policy assessments & outlooksGeopolitical riskMonetary policy decisions and developments
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2025-07-11•United States•Federal Deposit Insurance Corporation
The FDIC issued disaster-related supervisory guidance for institutions in Kerr County, Texas, affected by severe weather. The guidance includes regulatory relief measures like flexibility in reporting requirements and encourages banks to work with impacted borrowers by extending repayment terms and restructuring loans. The FDIC also highlights potential Community Reinvestment Act considerations and expedited processing for temporary banking facilities.
Policy & regulationGuidance & interpretationOther
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2025-07-11•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency have updated regulatory reporting instructions for Call Reports and FFIEC 002 under the Federal Financial Institutions Examination Council. Institutions must report loan modifications for borrowers in financial difficulty for 12 months post-modification. Pending U.S. Office of Management and Budget approval, these changes align with previous revisions and take effect on December 31, 2025, with optional early implementation.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a public warning regarding five unsupervised loan applications and filed a criminal complaint with the Public Prosecutor’s Office. The apps, including "FINANCIERA CENTA" and "SÚPER PRESTA", are available on Google Play and other websites. The CMF advises users to consult its Fraud Alerts Page to verify the supervision status of financial entities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a warning about fraudulent entities offering online loans while falsely claiming CMF supervision and demanding advance payments for non-existent loans. Complaints were filed against eight entities, including impersonators of regulated firms operating via websites and social media. The CMF advised the public to consult its Fraud Alerts Page for verification and protection guidance.
SupervisionAlertsFraud and scams
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted Pakistan's Ministry of Commerce, led by Minister Jam Kamal Khan, to discuss enhancing banking links for trade and investment. They considered updating the 2004 memorandum with the State Bank of Pakistan and Vietnam's advancements in banking digitalisation and polymer banknote production. Pakistan showed interest in Vietnam's cashless payment systems, planning further exchanges and study visits.
Policy & regulationCooperationCross-border cooperation
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam revised the structure and remit of Regional Branch 13, effective 1 July 2025, transferring transaction points between branches. Following the reorganization, Regional Branch 13 held conferences to align credit institutions with new supervisory approaches, focusing on stable deposit rates, cost reduction, digitalization, and directing credit to priority areas. Participants were briefed on implementing action plans and preparing reorganization plans per State Bank of Vietnam Circular 10/2025.
Institutional developmentMandate & organizational structureMandate change
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2025-07-11•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced inspection results by the Government Party Committee, highlighting effective implementation in five priority areas but noting areas for improvement. Governor Nguyen Thi Hong discussed challenges in restructuring the central bank's network and maintaining stability. The inspection credited flexible credit management for supporting over 7% economic growth and noted progress in digital transformation.
Institutional developmentMandate & organizational structureOther
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2025-07-11•Egypt•Central Bank of Egypt
The Central Bank of Egypt signed a memorandum with the People's Bank of China to establish a cooperation framework on central banking and financial sector priorities, including local currency settlement and CBDC collaboration. The framework includes information sharing, expertise exchange, and staff training in monetary policy, financial markets, and electronic payment systems. It also aims to support financial innovation and facilitate direct investments between Egypt and China.
Policy & regulationCooperationCross-border cooperation
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2025-07-11•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency announced the U.S. Senate's confirmation of Jonathan Gould as the new Comptroller of the Currency, succeeding Acting Comptroller Rodney E. Hood. Gould, the first Senate-confirmed Comptroller since 2020, will focus on tailoring regulatory requirements, fostering banking innovation, and ensuring fair access to financial services. Hood expressed support for a smooth leadership transition.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-11•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) reaffirmed its commitment to reforming Argentina’s capital markets regulatory framework at the Buenos Aires Stock Exchange's 171st anniversary. President Javier Milei emphasized addressing central bank and public finance issues, while BCBA President Adelmo Gabbi highlighted the importance of transparent capital markets. CNV Chair Roberto E. Silva credited coordinated efforts with the economic team for reforms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-11•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued the Measures on Product Suitability Management of Financial Institutions, effective 1 February 2026, to enhance financial consumer protection. The Measures require financial institutions to understand products and customers, assign risk ratings, and apply enhanced protections for ordinary investors. Breaches may lead to supervisory measures and penalties for institutions and individuals.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-11•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued the Product Suitability Management Measures for Financial Institutions, creating a unified framework for suitability obligations when issuing or selling investment-type and insurance products. The Measures require institutions to match products with suitable customers, grade product risk, and assess investors' risk tolerance. Implementation begins on 1 February 2026, with follow-up work to enhance industry standards and consumer risk awareness.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-11•China•China Banking and Insurance Regulatory Commission
Li Yunze, chair of the China Banking and Insurance Regulatory Commission, inspected Yunnan on 9–10 July, focusing on high-quality development, risk prevention, and financial supervision. He urged more resources for technology commercialization, industrial transformation, and support for micro and small enterprises through digital means and coordination. Li also called for stricter regulatory program implementation and improved sub-branch supervision.
SupervisionReviews, inspections & stress testsDomestic cooperation
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2025-07-11•Asia•Eurasian Group (EAG)
The Eurasian Group Secretariat held FATF standards training in Moscow for 41 experts from eight member states. The program covered updated AML/CFT/CPF standards and was designed to prepare experts and potential assessors ahead of the next round of Eurasian Group mutual evaluations. Further training is planned under the 2025-2026 work plan.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-07-11•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance mandates that applications for Timely Verification of Credits in insurer liquidations be submitted via the Remote Procedures Platform (TAD). Creditors must use a standard form as a sworn statement, and liquidation commissions must inform presiding judges of this new requirement.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-11•India•Securities & Exchange Board of India
SEBI has issued a master circular for ESG Rating Providers (ERPs), updating operational, governance, and disclosure requirements under the SEBI (Credit Rating Agencies) Regulations, 1999. The circular mandates standardized ESG rating products, restricts ERPs to a single revenue model, and sets transparency and conduct measures. It outlines governance provisions, extensive disclosure requirements, and compliance monitoring through annual audits.
Policy & regulationRules & requirementsESG
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2025-07-11•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has issued a Master Circular for Real Estate Investment Trusts (REITs), consolidating all applicable SEBI circulars into a single reference document. This comprehensive circular covers operational, transaction, and disclosure requirements, including online filings, public issuance processes, and governance compliance. It supersedes previous circulars while preserving prior actions and liabilities.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-11•India•Securities & Exchange Board of India
SEBI issued a master circular for Credit Rating Agencies (CRAs), consolidating directions under the SEBI (Credit Rating Agencies) Regulations, 1999. It standardizes registration, rating operations, disclosures, audits, and introduces an "orderly migration" framework for CRA suspension, cancellation, or surrender. It mandates standardized rating symbols, a press release template, and monthly "No Default Statements" from issuers, detailing conduct expectations and compliance measures.
Policy & regulationRules & requirementsCredit ratings
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2025-07-11•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has revoked the licence of Al Khazna Insurance Company P.S.C due to non-compliance with licensing requirements during its suspension. This action was taken under Article 33 of Federal Decree-Law No. 48 of 2023, following examinations that revealed failures to meet the Insurance Law and other regulatory standards.
SupervisionAuthorisations & approvals
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2025-07-11•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank announced the launch of a USD-denominated collective investment scheme by Unit Trust Corporation Global Balanced Fund Limited in Saint Kitts and Nevis, aimed at enhancing financial inclusion in the Eastern Caribbean Currency Union. Governor Timothy N. J. Antoine highlighted the fund's accessibility to retail investors and its alignment with the ECCB's "Big Push" wealth-creation agenda. The fund, the first mutual fund in the ECCU, is regulated by the Eastern Caribbean Securities Regulatory Commission.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-11•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank, ECCU Bankers’ Association, and ECCU Ease of Account Opening Working Group launched the ECCU First Step Savings Account to aid underserved individuals and small businesses. Offered by Licensed Financial Institutions, it features simplified due diligence, 2.0% annual interest, no fees, no minimum balance, and a deposit cap of EC$36,000 annually. A public town hall discussed the account, with future plans for a uniform simplified due diligence approach across the Currency Union.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-07-10•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission registered a new share issue by Shelly Group ED for trading on a regulated market, totaling BGN 52,501. It also approved Sofia Antonova and Milena Gencheva to the Board of Directors of Euroins Insurance Company and confirmed the completeness of Pridict Ltd.'s crowdfunding licensing application.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-07-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released interest rate data for deposits and loans at the credit institution level for May 2025, along with additional related information.
Data & statisticsFinancial and market indicators
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2025-07-10•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority (CMA) has approved amendments to facilitate investment account operations. These changes allow individual foreign investors residing in a Gulf Cooperation Council country to invest directly in Main Market shares. Former residents of Saudi Arabia or GCC countries can maintain investment accounts and invest in Main Market shares post-residency if the account was initially opened in the Kingdom.
Policy & regulationRules & requirementsMarket development
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2025-07-10•United Kingdom•Payment Systems Regulator
The Payment Systems Regulator (PSR) published its 2024/25 annual report, highlighting achievements like implementing the authorised push payment scams reimbursement requirement and expanding Confirmation of Payee requirements. The report notes the PSR's consolidation into the Financial Conduct Authority and alignment with the FCA’s 2025–30 strategy. Additionally, the PSR addressed competition and innovation issues, including digital wallets and card fees, and evolved open banking governance.
Institutional developmentGovernancePayments and payment systems
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2025-07-10•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority issued a supervisory press release noting that approved compliance officers are not adequately fulfilling their continuing education obligations. Officers must complete at least 40 hours of training every three years with FSMA-accredited providers, and regulated companies are responsible for ensuring compliance.
SupervisionAlertsSupervision process and methodologies
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2025-07-10•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada launched an interactive dashboard to monitor Canadians' financial health, revealing increased overspending, borrowing for regular expenses, and debt levels in 2024. It also shows a rise in fraud cases and payday loan usage, with data from 2019 onwards, allowing exploration by topic, quarter, year, and demographic filters. Regular updates and user feedback are sought to enhance the dashboard's Research and Data Exchange features.
Data & statisticsFinancial literacy and education
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2025-07-10•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General after a licensed company, acting as a whistleblower, submitted incorrect and misleading data. This referral pertains to an offence under Item (3) of Article (127) of Law No. 7 of 2010, as amended.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-10•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General concerning a company's non-compliance with a Disciplinary Board decision under Article 127 of Law No. 7 of 2010. The company, previously listed on Boursa Kuwait, failed to pay a fine as required by Disciplinary Board Resolution No. 78/2024 and Authority Resolution No. 89/2024, despite being notified on 16 April 2025.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-10•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) released a synthesis of its SPOT thematic reviews on asset managers' voting and shareholder engagement policies, highlighting both good and poor practices. The reviews, part of AMF's sustainable finance supervisory priorities, found practices generally satisfactory but identified areas for improvement, particularly in investor disclosures and the use of external service providers for voting. The AMF encourages more detailed reporting on ESG engagement and better documentation of deviations from voting policies.
SupervisionReviews, inspections & stress testsCorporate governance
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2025-07-10•Israel•Bank of Israel
The Bank of Israel held a meeting with Governor Prof. Amir Yaron, the Monetary Committee, and financial forecasters to discuss economic developments amid the war, with presentations including the Research Department's assessment published on 7 July 2025. The session facilitated an exchange of opinions and assessments, and the presentation used was made available as an attachment.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-07-10•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has released a list of data contributors to the equity Consolidated Tape Provider (CTP), detailing trading venues and investment firms mandated or opting to contribute data. Under the Market in Financial Instruments Regulation (MiFIR), venues opting in must begin data contribution within 30 days of ESMA's notification. ESMA will update the list as venues start or end operations or opt in.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-07-10•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority reprimanded and disqualified LI Siu Man from registration as a Mandatory Provident Fund intermediary for eight months for failing to promptly enrol a client in an MPF scheme. The misconduct breached Manulife (International) Limited’s internal policies and the conduct requirement under the Mandatory Provident Fund Schemes Ordinance. The sanction considered the seriousness of the breach, the absence of prior disciplinary records, and the need for deterrence.
EnforcementSanctions & designations
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2025-07-10•Europe•European Securities and Markets Authority
ESMA reviewed the Malta Financial Services Authority's handling of a crypto-asset service provider under the Market in Crypto-Assets Regulation, noting areas for improvement in authorisation practices. Despite adequate resources and expertise, unresolved material issues and insufficient risk assessment were identified. ESMA advises national authorities to focus on risks related to business growth, governance, and unregulated services in their authorisation processes.
SupervisionPeer reviews and country evaluations
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2025-07-10•Australia•Australian Securities & Investments Commission
The Federal Court found Mayfair 101 Group director James Mawhinney involved in legal contraventions by Mayfair 101 Group companies, identifying false or misleading representations in marketing financial products and deceptive conduct due to undisclosed investor redemption suspensions. IPO Capital operated without a licence from 2016 to 2017. ASIC seeks injunctions to prevent Mawhinney from advertising and fundraising through financial products and transferring assets abroad. Further submissions on relief are pending.
EnforcementInvestigations & enforcement actions
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2025-07-10•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission has granted a five-year authorisation, with conditions, for the Australian Sustainable Finance Institute and industry participants to collaborate on sustainable finance initiatives, including information exchange and co-design of financial products. The authorisation addresses potential competition concerns and remains interim until the final determination is effective.
SupervisionAuthorisations & approvalsClimate risk and sustainable finance
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2025-07-10•Australia•Australian Securities & Investments Commission
ASIC has granted regulatory relief for Project Acacia, a collaboration with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre. The project examines integrating digital money with existing settlement infrastructure in Australian wholesale tokenised asset markets. Twenty-four use cases have been selected, including 19 pilot cases with real transactions and five proof-of-concept cases with simulated transactions, covering asset classes like fixed income and carbon credits. Testing involves stablecoins, bank deposit tokens, and a pilot wholesale CBDC on various distributed ledger platforms. Findings are expected in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Australia•Australian Securities & Investments Commission
The Federal Court ordered ACBF Funeral Plans Pty Ltd to pay a AUD 3.5 million penalty for falsely claiming Aboriginal ownership. This follows ASIC's successful appeal, bringing total penalties to AUD 4.7 million. The penalty concerns the Aboriginal Community Funeral Plan. Separate civil proceedings against former directors are ongoing.
EnforcementInvestigations & enforcement actions
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2025-07-10•Australia•Australian Securities & Investments Commission
The Australian Securities and Investments Commission announced that the Full Federal Court dismissed an appeal by Cigno Australia Pty Ltd, BSF Solutions Pty Ltd, and their directors, affirming findings of unlicensed credit activity and prohibited fees. The court upheld that their "No Upfront Charge Loan Model" circumvented consumer protection laws, resulting in AUD 34 million in loans and over AUD 70 million in fees from July to December 2022. Directors Mark Swanepoel and Brenton Harrison were implicated, and the appellants must cover ASIC's appeal costs. The case will return to Justice Jackman for penalty determination.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-10•Botswana•Bank of Botswana
The Bank of Botswana issued a public alert regarding counterfeit BWP 200 banknotes detected in southern Botswana, urging vigilance in cash transactions. The counterfeit notes bear the serial number AA0123456. The Bank advised verifying security features on genuine notes and reporting suspected counterfeits to authorities.
SupervisionAlertsCurrency and cash management
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2025-07-10•Australia•Department of Treasury (Australia)
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have advanced Project Acacia by selecting 24 industry use cases to test digital money innovations in Australian wholesale tokenised asset markets, supported by ASIC, the Australian Prudential Regulation Authority, and the Australian Treasury. The next stage involves 19 pilot use cases with real transactions and five proof-of-concept use cases, utilizing stablecoins, bank deposit tokens, and pilot wholesale central bank digital currency (CBDC) across various distributed ledger technology platforms, with testing set for six months and findings due in 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Latvia•Central Bank of Latvia
The Central Bank of Latvia has authorized SIA Ascend Finance to provide crowdfunding services, connecting investors with businesses. SIA Ascend Finance is now listed in the national Register of Crowdfunding Service Providers and can offer services like loan portfolio management and credit scoring. This authorization complies with Regulation (EU) 2020/1503 and is recognized in the European Securities and Markets Authority’s EU Register.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-10•Latvia•Central Bank of Latvia
The Central Bank of Latvia has authorised SIA Ascend Finance to offer crowdfunding services, including loan facilitation and management, in compliance with Regulation (EU) 2020/1503. SIA Ascend Finance is now listed in both the national and European Securities and Markets Authority's EU-wide registers of Crowdfunding Service Providers.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-10•West Africa•Central Bank of West African States
The Central Bank of West African States’ Financial Stability Committee reported that the UMOA financial sector remains dynamic but faces short- to medium-term vulnerabilities. Despite improvements in capital adequacy and solvency ratios, risks persist from trade tensions, inflation, sovereign debt sustainability, and regional security challenges. The Committee urged increased vigilance, cooperation, and resilience-building measures among member states and financial regulators.
SupervisionRisk monitoring & watch points
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2025-07-10•Australia•Department of Treasury (Australia)
Australia's Treasury updated on Project Acacia, confirming 24 use cases for testing digital money in wholesale tokenised asset markets. The next stage involves 19 pilot use cases with real transactions and five proof-of-concept use cases with simulated transactions, covering various asset classes. The Australian Securities and Investments Commission is providing regulatory relief for responsible testing, with findings expected in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) is hosting the 6th Annual Conference of the African Pension Supervisors Association in Marrakech, focusing on resilience in Africa's pension landscape. The event will address governance, pension coverage expansion, emerging risks, and ESG integration, with sessions on risk-based supervision, climate change, cybersecurity, demographic risks, and micro-pension models.
SupervisionCooperationClimate risk and sustainable finance
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2025-07-10•Georgia•National Bank of Georgia
The National Bank of Georgia is assessing BasisBank's potential acquisition of a 95.99% stake in Liberty Bank for compatibility with the competitive environment. The review focuses on the potential concentration in the banking sector.
SupervisionReviews, inspections & stress testsMergers and acquisitions
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2025-07-10•United States•National Credit Union Administration
The National Credit Union Administration is voluntarily reviewing its regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to identify outdated or burdensome rules for federally insured credit unions. The review covers 10 regulatory categories, with public input sought through four Federal Register notices, each with a 90-day comment period. The first notice, published in May 2024, addressed applications, reporting, and powers and activities.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-10•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance, chaired by Prime Minister Evika Siliņa, discussed enhancing lending to non-financial companies and considered a draft framework to limit commission fees for early loan repayment or refinancing. The decision is paused pending a three-month market review. Additionally, a draft communication plan was reviewed to inform the public and international partners about Latvia's anti-money laundering and counter-terrorist financing assessment results.
Policy & regulationRules & requirementsMarket development
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2025-07-10•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator's President, Margarida Corrêa de Aguiar, emphasized insurance as a tool for financial stability at the NOVA School of Law’s conference on EU insurance law. She urged stakeholders to address the link between financial vulnerability and insurance access, advocating affordable solutions. The ASF highlighted its role in developing a seismic risk coverage system, crucial for Portugal's societal and economic resilience.
Policy & regulationOtherFinancial inclusion
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2025-07-10•Portugal•Bank of Portugal
The Bank of Portugal released updated financial national accounts for Q1 2025, showing the Portuguese economy as a net lender to the world at 2.6% of GDP. Households held the largest net lending position at 4.4% of GDP, while non-financial corporations were net borrowers at 4.1% of GDP. The financial sector's strongest inter-sector link was with the rest of the world, financing it by 4.5% of GDP through foreign debt securities purchases.
Data & statisticsEconomic data and developmentsFinancial and market indicators
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2025-07-10•Peru•Central Bank of Peru
Not applicable
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-07-10•Laos•Bank of the Lao
The Bank of the Lao hosted a courtesy visit from a Bank of China (Hong Kong) Limited delegation to discuss ongoing cooperation and congratulate Governor Bounkham Vorachit on his appointment. Discussions included the branch's business operations in Lao PDR, contributions to socio-economic development, and support for the domestic banking sector. Both parties emphasized continued collaboration on Basel II standards and future risk management.
Institutional developmentCooperation & capacity buildingOther
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2025-07-10•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) plans to review its client categorisation regime to enhance opportunities for wealthy and experienced investors, supporting capital markets and economic growth. This review is part of broader FCA growth reforms, with 10 initiatives completed since January and around 50 expected by year-end. Key initiatives include improving mortgage access, launching the PISCES private stock market, and extending pre-application support to various firms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-10•New Zealand•Ministry of Business, Innovation and Employment (New Zealand)
New Zealand's Ministry of Business, Innovation and Employment has launched the New Zealand Anti-Scam Alliance to enhance prevention and response to online financial scams. The initiative aims to improve coordination among government agencies, banks, telecommunications providers, digital platforms, and consumer groups. With over 60% of New Zealanders encountering scams monthly and an economic impact of nearly NZD 200 million annually, the programme will develop a national anti-scam strategy, update industry codes, raise public awareness, and provide tools for scam prevention and response.
Policy & regulationCooperationFraud and scams
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2025-07-10•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced that Mr. Lin Tai Fung and Mr. Or Chun Nin were sentenced to community service for market manipulation. They pleaded guilty to conspiracy to commit false trading in Pa Shun International Holdings Limited shares, and Lin also admitted to failing to notify changes in his share interest. The court considered imprisonment but chose community service due to mitigating factors and guilty pleas.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-07-10•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS released a draft rule to standardize insurers' identification of building typologies for natural disaster coverage. The proposal includes a manual by CISMID for classifying buildings, detailing structural typologies, sensitivity parameters, and reinsurance applications. The draft aims to enhance catastrophe exposure data quality for loss estimation and risk reserve calculations.
Policy & regulationRules & requirementsNature-related risk
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2025-07-10•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) emphasized the strategic importance of a digital euro as a secure, simple, and free legal digital payment means across the euro area. Governor Robert Holzmann highlighted geopolitical factors necessitating a digital euro to enhance euro area sovereignty and resilience, while the Eurosystem continues technical preparations. The OeNB stressed that the decision to proceed with a digital euro is political, urging swift agreement and noting ongoing stakeholder engagement.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-07-10•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation released educational material on using the International Sustainability Standards Board's industry-based guidance with the IFRS Sustainability Disclosure Standards. This material clarifies disclosure topics and metrics relevant to specific industries and serves as implementation support without altering existing ISSB Standards or proposed enhancements to SASB Standards.
Policy & regulationGuidance & interpretationAccounting and financial reportingDisclosures
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2025-07-10•France•Bank of France
The Bank of France reported a shift to a EUR 2.7 billion current account surplus in 2024, driven by a reduced goods trade deficit and a larger services surplus. The goods deficit narrowed due to a lower energy bill and recovering industrial goods exports, while the services surplus improved in business services and insurance. France's net international investment position remains vulnerable due to substantial net portfolio debt, particularly in public securities.
Data & statisticsBalance of payments and other external statistics
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2025-07-10•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia is soliciting proposals for events and anniversaries to feature on its annual occasional coins, beginning with the 2027 programme. Proposals must comply with the Occasional Coins Act and include a rationale for the event's significance.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-10•Australia•Reserve Bank of Australia
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have selected 24 industry use cases for Project Acacia to explore digital money's role in Australian wholesale tokenised asset markets, with regulatory relief from the Australian Securities and Investments Commission. The initiative includes 19 pilots with real transactions and five proof-of-concept tests, involving various asset classes and settlement assets, with testing over six months and a report due in early 2026.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-07-10•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 rejected Gulmira Zhumadil's appointment as head of a governing body in the securities market.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-10•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has issued a guidance note to enhance awareness of climate change and nature loss risks within the regulated sector, clarifying expectations for firms' risk management frameworks. The guidance applies to entities under the Financial Services Act 2008, the Insurance Act 2008, and the Collective Investment Scheme Act 2008, emphasizing proportionality and materiality without introducing new requirements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-10•Global•Bank for International Settlements
The Bank for International Settlements released a working paper on El Niño Costero's impact on Peru's inflation, economic activity, and monetary policy. It finds El Niño shocks cause persistent supply-side disturbances, raising inflation and contracting GDP, with limited stabilization from a hawkish policy stance during large, recurrent shocks. The paper highlights short-term inflation driven by food and energy prices, notable GDP declines in primary sectors, and challenges in stabilizing inflation expectations.
ResearchClimate risk and sustainable finance
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2025-07-10•Global•Bank for International Settlements
The Basel Committee on Banking Supervision released a report on interconnections between banks and non-bank financial intermediaries (NBFIs), highlighting potential risks. It details banks' provision of leverage and services to NBFIs, and NBFIs' exposures to banks, using case studies to illustrate impacts on financial stability. The Committee will continue monitoring these interconnections, focusing on synthetic risk transfers.
ResearchFinancial stability and systemic riskPrudential risks
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2025-07-10•Global•Bank for International Settlements
The Bank for International Settlements released a BIS Bulletin evaluating the potential of tokenising government bonds, noting tighter bid-ask spreads compared to conventional bonds but similar issuance costs. The analysis, based on 39 tokenised bonds, highlights two issuance models and discusses collateralised issuance variants. Broader adoption depends on resolving regulatory and infrastructure challenges, with further experimentation needed to assess benefits and risks.
ResearchTokenization