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2025-07-08•Serbia•National Bank of Serbia
The National Bank of Serbia reported a significant rise in distance contracting for financial services in Q1 2025, with 93,355 contracts concluded, marking a 58.4% increase from the previous year. Video-based user identification was used in 25,506 contracts, a 79.9% year-on-year increase, with non-bank payment service providers accounting for 3.8%. Distance contracting surged across various banking services, notably demand savings and term deposits, payment account openings, and cash loans.
Data & statisticsBNPL
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2025-07-08•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia and Durham University signed a Memorandum of Understanding to enhance cooperation in Islamic finance and the Islamic capital market. The inaugural Islamic Capital Market Summer School, targeting experienced Islamic finance professionals, will focus on strategic leadership and technical knowledge, offering joint certification from both institutions. The programme will run annually from 2025 to 2027, starting in a hybrid format in Q3 2025.
Policy & regulationCooperationCapacity building
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2025-07-08•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said its BCP Educa program reached about 1,100 people through financial education sessions in Concepción, Central and Itapúa during May and June. The training focused on insurance, its importance and the Paraguayan insurance market, and was aimed at students and other interested participants.
Financial literacy & educationFinancial literacy and education
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2025-07-08•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia and the International Financial Corporation co-organised a workshop on Green, Social, Sustainability, Sustainability-linked, and Transition Bonds to enhance market readiness for GSS+ bond issuance. Aimed at financial institutions and corporations, it provided foundational knowledge and practical tools for sustainability-linked and transition bond issuance, highlighting GSS+ bonds as a means to access new funding, improve reputation, and contribute to environmental outcomes.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-08•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC) supported a training programme on "Intelligence Investment" to enhance understanding of Cambodia’s securities sector among professors and students. The event, attended by approximately 100 participants, featured speakers from SERC and other financial institutions discussing investment basics, strategies, mutual funds, and trading accounts.
Policy & regulationImplementation, projects & pilotsFintech and insurtechFinancial literacy and education
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2025-07-08•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a sanctions notice designating two individuals and one entity under the UK Chemical Weapons (Sanctions) (EU Exit) Regulations 2019, resulting in an asset freeze. Businesses must freeze assets linked to Aleksey Viktorovich Rtishchev, Andrei Marchenko, and Joint Stock Company Federal Scientific and Production Centre Scientific Research Institute of Applied Chemistry, and report findings to the States of Guernsey Policy & Resources Committee. Firms must also inform the Commission and submit detailed reports under Handbook Rule 12.37.
EnforcementSanctions & designationsNew sanctions designations
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2025-07-08•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) has released a draft Action Plan for Truth and Reconciliation, seeking feedback from stakeholders including Indigenous organizations and market participants. The plan aims to foster a culturally aware and inclusive workforce, aligning with the Truth and Reconciliation Commission of Canada's Calls to Action. The OSC will incorporate feedback into its inaugural Action Plan.
Policy & regulationReform agendas & prioritiesDiversity and inclusion
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2025-07-08•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning against Satoshi Labs Ltd for offering the "$SATX" token without authorization under the Virtual Asset Service Providers Act, 2024. Satoshi Labs, incorporated in Seychelles, is not in good standing due to unpaid fees. The authority advises the public to research entities before transactions and report unauthorized activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-08•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a scam alert concerning Snap Technology Limited and the website https://www.crypto-cion.com/app/#/, noting they are not associated with any licensed or regulated entity by the FSA. The FSA advises the public to perform due diligence before engaging in transactions involving money exchanges or personal information.
SupervisionAlertsFraud and scams
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2025-07-08•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding "Xtrade" operating via https://www.xtradevip.com, falsely claiming FSA regulation under licence number SD034. The FSA clarified that "Xtrade" is not licensed or regulated by them, and the licence number belongs to a different entity. The public is advised to conduct thorough research before engaging in transactions or sharing personal information.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-07-08•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website https://www.cm-tradingpro.com/, which is not associated with any FSA-licensed or regulated entity. The FSA advises thorough research before engaging with financial entities and disclaims liability for losses from interactions with the mentioned site.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-07-08•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urged STRD24DA bondholders of Wastech Exponential Co., Ltd. to review information and attend the bondholders’ meeting. WTX seeks approval to waive defaults, adjust repayment terms, extend maturity, and modify interest rates, with additional security via a personal guarantee. The meeting is on 9 July 2025, with key agenda items needing joint approval.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-07-08•Malta•Central Bank of Malta
The Central Bank of Malta issued a public alert regarding fraudulent emails using its letterhead from the address info@malta-centralbank.org. The Bank clarified it does not send letters or emails concerning payments involving private individuals.
SupervisionAlertsFraud and scams
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2025-07-08•Russia•Central Bank of Russia
The Central Bank of Russia has expanded its list of foreign currencies for official exchange rate settings against the ruble, adding 12 new currencies including the Taka, Bahraini Dinar, and Saudi Riyal. Rates for these currencies will be set starting 10 July 2025.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-07-08•Russia•Central Bank of Russia
The National Financial Board of the Central Bank of Russia reviewed the 2024 Annual Report and discussed key regulatory activities for Q1 2025. The meeting addressed the digital ruble platform, capital market developments, concentration risks at systemically important institutions, and the shift towards Russian software. The NFB approved personnel costs, pension expenses, and accounting regulations for 2024.
Institutional developmentGovernanceOther
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2025-07-08•Russia•Central Bank of Russia
The Central Bank of Russia announced a new law prohibiting banks and microfinance organizations from imposing fees, penalties, or fines on the outstanding loans of deceased borrowers during the inheritance process. Effective from 1 September 2025 for six months, this applies to consumer loans, microloans, and mortgages unless altered by law or court ruling.
Policy & regulationRules & requirementsLending
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2025-07-08•United States•U.S. Department of Justice
The U.S. Department of Justice unsealed an indictment against Michael Shannon Sims and Juan Carlos Reynoso for allegedly operating OmegaPro, a scheme defrauding investors of over USD 650 million. The indictment claims OmegaPro falsely promised 300% returns from foreign exchange trading and misrepresented its legal status. If convicted, both face up to 20 years in prison per count, with investigations led by the FBI, IRS, and ICE.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-08•Chile•Central Bank of Chile
The Central Bank of Chile has launched the 22nd “Economía más cerca” national school contest to enhance financial education among secondary students. This year's contest, marking the Bank's centenary, invites students to explore its historical and future roles in inflation control and currency stability. Participants must submit a vertical video entry, with the contest organized in collaboration with Chilean public broadcaster TVN’s NTV.
Financial literacy & educationFinancial literacy and education
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2025-07-08•Albania•Bank of Albania
Governor Gent Sejko of the Bank of Albania emphasized enhancing credit to Albania's agricultural sector, noting its structural weakness despite its economic significance. The central bank adjusted its Financing Programme to focus on MSMEs to boost agricultural lending. Sejko highlighted the Government's sovereign guarantee scheme as a tool to mitigate risks and reduce collateral constraints, ensuring banks' financial stability.
Policy & regulationGuidance & interpretationLendingFinancial stability and systemic risk
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2025-07-08•Chile•Chile Financial Market Commission
The Chile Financial Market Commission is consulting on amendments to General Rule No. 258, enhancing credit risk and liquidity management for financial instrument clearing systems. The proposal includes bilateral portfolio compression instructions for central counterparty systems, aiming to reduce contract numbers and notional amounts while maintaining net counterparty risks and collateral requirements. It mandates compression requirements and traceability for central counterparties and participants.
Policy & regulationRules & requirementsCCPs
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2025-07-08•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued an alert warning that SUNFLOWER, operating via the sunflower.cl website, is not registered or authorised under the Fintech Act (Law No. 21,521). The CMF cannot supervise or sanction the entity or handle complaints. Investors are advised to verify firm registration and check for complaints or negative feedback via the CMF website and Fraud Alerts Page.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-08•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has appointed three new Deputy Directors to the Department for Management and Supervision of Credit Institutions, enhancing its leadership. The appointees, Huỳnh Nhật Lệ, Mai Khánh Dũng, and Đậu Thị Mai Hương, previously led divisions supervising various banks. Deputy Governor Phạm Quang Dũng emphasized the department's role in maintaining the safety and stability of the credit institution system amid recent structural reorganization.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-08•Egypt•Central Bank of Egypt
The Central Bank of Egypt has temporarily raised the daily maximum cash withdrawal limit in local currency from bank branches to EGP 500,000 for individuals and companies, up from EGP 250,000. This measure will stay in place until communication systems are fully restored.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-08•Malta•Malta Financial Services Authority
The Malta Financial Services Authority has initiated a public consultation on proposed amendments to the Capital Markets Rules to establish provisions for sukuk in Malta’s capital markets. The proposals aim to facilitate sukuk issuance on the Institutional Financial Securities Market by introducing specific requirements within the IFSM rulebook. The MFSA seeks stakeholder feedback to support structuring, issuance, and investment of Islamic finance products in Malta.
Policy & regulationRules & requirementsSME financing
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2025-07-08•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has imposed its largest sanction on GUARDATI TORTI S.A., a Clearing and Settlement Agent, for account management irregularities and breaches of information and reporting obligations. Sanctions include a record fine, disqualification of officials, and a prohibition on capital market operations. The firm misused client funds, failed to provide requested information, and continued operations despite financial distress.
EnforcementInvestigations & enforcement actionsClient asset custody and safekeepingCompliance
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2025-07-08•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued General Resolution No. 1074 to streamline rules for financial trusts with automatic authorisation for frequent issuances. Financial fiduciaries can choose from three options for prospectus supplements: an annual and abbreviated supplement per issuance, an annual supplement without updates requiring a full supplement upon expiry, or a full supplement for each issuance under the General Regime.
Policy & regulationRules & requirementsRegulatory burden
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2025-07-08•Luxembourg•Ministry of Finance (Luxembourg)
Luxembourg's Finance Minister Gilles Roth aims to boost the financial centre's competitiveness with potential tax incentives for performance-related bonuses and a focus on digitalisation and tokenised financial products. Positioned as a key EU gateway with a strong international banking presence and fund industry, Luxembourg benefits from recent regulations like the Markets in Crypto-Assets Regulation and blockchain law. Initiatives include a sustainable finance action plan and efforts to attract digital banks, with a proposed tax regime for bonuses expected by end-2025.
Policy & regulationReform agendas & prioritiesOther
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2025-07-08•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance mandates that, from 10 July 2025, investment information must be submitted via the Information Regime (RI) platform, replacing SINENSUP. This transition aims to modernize reporting by reducing manual entry and errors, enhancing data quality, and supporting automated supervision. Insurers yet to transition must begin the process using the TAD procedure SSNA00192.
SupervisionRegulatory reporting
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2025-07-08•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance issued Resolution 347/2025, establishing guidelines for Employment Cessation Insurance under Decree 847/2024 and Law No. 27.742. The framework, developed in consultation with the insurance sector, aims to clearly define the coverages included in this collective bargaining agreement-based tool.
Policy & regulationRules & requirementsOther
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2025-07-08•South Korea•Bank of Korea
The Bank of Korea's preliminary flow-of-funds data for Q1 2025 indicates a decline in the total economy's net lending to KRW 18.5 trillion from KRW 41.0 trillion in the previous quarter.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-08•Global•Financial Action Task Force
The Financial Action Task Force (FATF) released a report on evolving terrorist financing risks, noting 69% of assessed jurisdictions have significant deficiencies. The report highlights diverse TF methods, including digital platforms and legal entity abuse, stressing the need for risk-based countermeasures. Recommendations include enhancing international cooperation and developing targeted public-private partnerships.
Policy & regulationInternational standards & recommendationsAML and CFT
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2025-07-08•Anguilla•Anguilla Financial Services Commission
The Anguilla Financial Services Commission issued guidelines for Trust and Corporate Service Providers (TCSPs) on appointing a custodian to maintain records after a TCSP licence cancellation. The guidelines detail custodian responsibilities, agreement terms, and assessment criteria, including expertise and compliance with Anti-Money Laundering requirements. Custodian appointments require Commission approval and involve ongoing reporting and compliance obligations.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-08•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor, Anca Dragu, stressed the need for action in women's financial inclusion at a UN Women Moldova event, highlighting the country's seventh-place ranking in the World Economic Forum’s 2025 Global Gender Gap Index. Dragu outlined the bank's initiatives, such as the "FinanciarELE – community of female leadership" project, noting women constitute 64% of staff and 53% of managerial roles. A subsequent workshop aimed to generate practical solutions for enhancing women's access to financial services.
Financial literacy & educationDiversity and inclusion
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2025-07-08•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission announced the Legislative Yuan's approval of an amendment to extend tax exemptions for offshore insurance branches to 31 December 2035. The exemptions cover business income tax, business tax, stamp tax, and income tax withholding. This measure aims to position Taiwan as an Asian asset management center by encouraging product development and strengthening ties with offshore banking and securities branches.
Policy & regulationRules & requirementsOther
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2025-07-08•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced three new entries under the Chemical Weapons sanctions regime, aligning with the UK sanctions list update on 7 July 2025. The additions include Major General Aleksey Viktorovich Rtishchev, Major General Andrei Marchenko, and a Russian research institute, all subject to asset freezes and trust services sanctions. The Treasury emphasized immediate asset freezing and reporting obligations for suspected matches.
EnforcementSanctions & designationsSanctions list update
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) received the WSIS Champion 2025 award at the World Summit on the Information Society Forum for its "Financial Inclusion Dashboard: Enabling Data-Driven Decisions for Inclusive Growth" project. Recognized among the top five in the "WSIS Action Line: Access to Information and Knowledge" category, it provides real-time data to support financial inclusion and sustainable economic growth. The award, presented by ITU Secretary-General Doreen Bogdan-Martin, followed competition against over 60 projects.
OtherFinancial inclusion
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) Governor met with Italy’s Consul General in Jerusalem to discuss financial stability amid an ILS accumulation crisis due to Israeli currency transfer limits. The PMA warned of potential severed banking relations with Israeli correspondent banks, impacting citizens and commercial supply chains. Italy committed to supporting Palestine's financial stability and cooperation in enhancing digital infrastructure and electronic payment systems.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority and Palestinian Land Authority have launched a service for electronic payment of Land Authority fees via E-SADAD. Initially, fees can be paid through banking apps and e-wallets, with future plans for electronic property purchase payments. This aims to reduce cash reliance amid the banks' Israeli shekel accumulation crisis.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Israel•Bank of Israel
The Bank of Israel's July 2025 staff forecast projects GDP growth of 3.3% in 2025 and 4.6% in 2026, with inflation at 2.6% and 2.0% respectively, and an average policy rate of 3.75% by Q2 2026. The forecast, assuming no renewed conflict in Gaza, highlights high uncertainty due to geopolitical factors, US tariffs, and fiscal decisions, with fiscal deficits projected at 4.9% of GDP in 2025 and 4.2% in 2026, and debt at 70% and 71% of GDP.
ResearchEconomic data and developments
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2025-07-07•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has launched a new e-commerce payments interface to bolster national payments infrastructure and support the e-commerce sector. This interface facilitates integration between the "mada" payment system and global networks, expands payment options, and introduces a centralized registration service for banks to offer financing solutions. It also includes payment card tokenization to enhance transaction security.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia announced that sales of its Bono BCB Bicentenario reached over Bs45.3 million in the first eight days, indicating strong demand. La Paz led with 77.56% of sales, and most transactions occurred in person. The bond offers a fixed rate of 9.75% plus a variable component linked to gold price changes, with a projected total return of up to 14.75%.
Monetary policyMonetary policy instruments & operationsFinancial and market indicators
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2025-07-07•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported solid performance in its Banking and Finance System indicators for May 2025, driven by growth in credit and deposits. Public deposits rose 9.9% year-on-year to NIO 255,529.6 million, while the credit portfolio increased 15.8% to NIO 220,996.2 million. Liquidity was strong at 34.1%, with profitability and capital metrics improving, including a return on equity of 13.6% and a capital adequacy ratio of 18.6%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-07•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay's Vice President, Ana Claudia de los Heros, participated in the Mercosur meeting of economy ministers and central bank presidents in Buenos Aires. The session, chaired by Argentina’s Economy Minister Luis Caputo, focused on maintaining fiscal stability and advancing economic and trade integration within the bloc.
Policy & regulationCooperationOther
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2025-07-07•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its consolidated balance sheet statement as of 31 May 2025.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority (CMA) approved a framework for Saudi depositary receipts representing foreign shares. This allows foreign companies to register and offer these receipts in Saudi Arabia, contingent on CMA approval, aligning with existing requirements. Amendments to related rules were published by Tadawul and the Securities Depository Center Company (Edaa) after public consultation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority announced that Osool & Bakheet Investment Company has fulfilled the requirements to commence the Arranging activity in the securities business. This follows the CMA's prior approval of the firm's license for Arranging under the Capital Market Law and its Implementing Regulations.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-07•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported a 1.67% monthly decline in the aggregate balance sheet total of Luxembourg credit institutions to EUR 967.803bn as of 31 May 2025, due to reduced claims on banks and lower debts to other sectors. The interbank balance decreased by EUR 13.363bn (5.34%), while loans to non-bank customers fell by EUR 0.779bn (0.68%) month on month but rose by EUR 2.330bn (2.08%) year on year. Resident non-bank deposits contracted by EUR 3.766bn (1.21%) from April to May but increased by EUR 24.581bn (8.68%) over the year, with significant growth in deposits from other financial intermediaries.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission held a session for media on its Information Dissemination System (SDI), highlighting its role in publishing investor-relevant information for securities on regulated markets. The SDI ensures timely disclosure of issuer information per the Securities Code, with issuers responsible for accuracy. The CMC emphasized the SDI as the primary channel for capital market information and encouraged collaboration with issuers and media.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority’s Disciplinary Board fined IFA Hotels and Resorts Company KWD 20,000 and its auditor, Grant Thornton Office, KWD 5,000 for breaches of Listing Rules and the Securities Activities framework related to 2023 financial statements. The violations involved non-compliance with International Accounting Standard 28, where IFA inflated its investment in an associate, and Grant Thornton failed to report this in its audit.
EnforcementSanctions & designationsAccounting and financial reportingDisclosures
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority Disciplinary Board fined Trade Centers Real Estate Company and its executives for corporate governance breaches, including unauthorized share sales, undisclosed disciplinary decisions, and resource mismanagement. Sanctions included KWD 5,000 and KWD 2,000 fines on the company, plus additional fines and warnings for the board chair, CEO, and audit committee members.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KD 15,000 penalty on a MENA Real Estate Company board member for violating disclosure and transparency rules. The violations involved purchasing shares during a prohibited period and late disclosure of a share purchase. The decision includes notifying the CMA Board of Commissioners and relevant parties.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority's Disciplinary Board fined Kuwait and Gulf Link Transport Company and several executives for breaching listing and corporate governance rules. The violations involved non-compliance with IFRS 13 Fair Value Measurement in an impairment testing valuation document. The company was fined KD 10,000, and individual fines of KD 5,000 were imposed on the chairman, vice chairman, three former board members, and the CFO.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KWD 5,000 penalty on Independent Petroleum Group Company for failing to disclose several credit facilities contracts, breaching disclosure and transparency requirements. The undisclosed agreements, signed between January 2023 and September 2024, involved amounts up to USD 360 million and KWD 89.2 million, affecting asset ratios from 7.4% to 22.3%.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-07-07•Israel•Bank of Israel
The Bank of Israel reported that foreign exchange reserves reached USD 228,250 million at the end of June 2025, an increase of USD 4,611 million from the previous month, driven mainly by a revaluation gain of USD 5,215 million. Reserves accounted for 41.6 percent of GDP, with USD 223,651 million held outside the International Monetary Fund and USD 4,599 million at the IMF.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Australia•Australian Securities & Investments Commission
ASIC is consulting on remaking five legislative instruments for financial reporting relief, expiring on 1 October 2025. It plans to retain the relief with minor updates, including drafting style changes and clarifying that Instrument 2015/251 excludes registrable superannuation entities. The instruments under review are ASIC Corporations Instruments 2015/841, 2015/842, 2015/839, 2015/838, and 2015/251.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned financial adviser Barry David King from providing financial services due to his lack of fitness and propriety. King concealed information, made false representations, mismanaged client funds, and failed to inform clients about investments. The ban, effective 1 July 2025, is recorded on ASIC’s Banned and Disqualified Register. King may seek a review, and ASIC's investigation continues, with court orders preventing his departure from Australia extended to 1 July 2025.
EnforcementSanctions & designationsFitness and propriety
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2025-07-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has appealed the Federal Court's decision dismissing part of its case against HCF Life Insurance Company Pty Ltd over a "pre-existing condition" term. The Court found the term misleading but not unfair, which ASIC contests. ASIC argues it allowed denial of coverage based on retrospective medical opinions. The term, used in HCF Life's Recover range, was replaced in November 2023. HCF Life contacted affected policyholders, published a corrective notice, and was fined AUD 750,000.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-07-07•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority’s Insurance Commission issued an opinion on delaying the repeal of Article 23 of the Law on compulsory motor vehicle liability insurance. The opinion was requested by Deputy Prime Minister David Clarinval and is available in French and Dutch.
Policy & regulationGuidance & interpretationOther
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2025-07-07•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported international reserves at USD 45,065.6 million as of 1 July 2025, a 1.2% increase from June, driven by significant inflows from international partners. Inflows under the G7 Extraordinary Revenue Acceleration for Ukraine initiative totaled USD 4,087.3 million, with contributions from Canada, the World Bank, and the IMF. The reserves cover 5.6 months of future imports, with the National Bank of Ukraine being a net seller of USD 2,955.0 million in June.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Kenya•Central Bank of Kenya
The Central Bank of Kenya has launched a survey to gather feedback on its Total Cost of Credit website, developed with the Kenya Bankers Association to enhance transparency in loan product comparisons. The survey aims to assess usability and identify improvements as the platform is updated to reflect changes in the financial landscape.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-07-07•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market outlined its roadmap for sustainable financial instruments in post-war reconstruction, emphasizing green, social, and sustainable bonds. Key priorities include countering greenwashing, enhancing transparency, and aligning domestic frameworks with international standards. Discussions also focused on attracting private capital for Ukraine's green reconstruction through these bonds.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-07-07•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has launched a new e-commerce payments interface to enhance Saudi Arabia’s national payment infrastructure and support the e-commerce sector. This interface integrates the mada payment system with global networks and introduces a centralized registration service for banks to offer financing solutions. The initiative aligns with SAMA's strategy to develop the e-payments ecosystem and advance digital payments and financial technology objectives.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan concluded 1,761 adjudication proceedings in FY 2024-25, imposing penalties totaling PKR 425 million. Key issues included unauthorized investments, weak governance, and financial reporting lapses among 267 publicly listed companies, with actions against Non-Banking Finance Companies and AML/CFT breaches. The SECP also addressed violations in the brokerage and insurance sectors, issuing penalties and directives for compliance.
EnforcementInvestigations & enforcement actionsCompliance
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2025-07-07•United States•National Credit Union Administration
The National Credit Union Administration (NCUA) is monitoring severe weather in Texas, offering support to affected credit unions and ensuring member deposits are protected. NCUA examiners are assessing operations and assistance, reiterating insurance coverage limits of up to USD 250,000. The NCUA may encourage prudent loans, reschedule examinations, and provide liquidity support, with low-income credit unions eligible for Urgent Needs grants.
SupervisionInterventionsOperational risk and resilience
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2025-07-07•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance outlined key topics for the Eurogroup and Economic and Financial Affairs Council meetings, including euro area fiscal policy coordination, the digital euro legislative framework, and Bulgaria's euro area accession. Discussions will address the euro area fiscal stance for 2026 budgets, digital euro regulations, and Bulgaria's accession legal acts. ECOFIN will also consider EU securitisation framework improvements and other economic impacts, including Russia's war in Ukraine.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2025-07-07•Europe•European Banking Authority
The European Banking Authority has initiated a public consultation on draft Guidelines for Ancillary Services Undertakings, clarifying criteria under Article 4(1)(18) of the Capital Requirements Regulation. The Guidelines aim to ensure consistent application of the prudential framework by defining activities as a "direct extension of banking" or "ancillary to banking," promoting convergence and comparability of prudential requirements across the EU.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-07•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has launched a testing phase for its new "Management of MMF reports" procedure on the eDesk PREPROD platform, ahead of changes to money market fund reporting methods effective 1 September 2025. Available since 1 July 2025, the platform supports two collection methods and is designed for professionals to test procedures. The CSSF has updated the user guide and reiterated the platform's purpose.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-07-07•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) convened the second meeting of the Advisory Board of its Health Insurance Observatory. Established in 2024, the Observatory aims to enhance published information by consulting and sharing diverse member perspectives.
Policy & regulationImplementation, projects & pilotsOrganizational structure
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2025-07-07•Portugal•Bank of Portugal
The Bank of Portugal updated its long-run statistical series for the banking sector, revealing a record net profit of EUR 6,288 million in 2024, driven by increased net interest income and reduced provisions for credit defaults. The data also shows a continued contraction in the branch network and a rise in employment, with significant shifts towards electronic payments.
Data & statisticsActivity and performance reporting
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2025-07-07•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
Botswana’s Non-Bank Financial Institutions Regulatory Authority has lifted the statutory management of Westlife Insurance Botswana (Pty) Ltd, terminating the Statutory Manager's appointment. All business dealings with Westlife are now to be directed to its management. This action was taken under Section 64(2) of the Non-Bank Financial Institutions Regulatory Act, 2023.
SupervisionInterventionsOther
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2025-07-07•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance announced Minister Kyriakos Pierrakakis will attend the Eurogroup and ECOFIN meetings in Brussels on 7-8 July. Key issues include adopting European Commission recommendations on Greece's national escape clause for defence expenditure, potentially allowing an additional EUR 500 million in 2026. The meetings will also address electing a new Eurogroup president, fiscal coordination, the digital euro, and Denmark's Presidency priorities.
Policy & regulationInternational standards & recommendationsOther
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2025-07-07•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) released data on 2024 mortgage lending transactions under the Home Mortgage Disclosure Act (HMDA) from 4,908 U.S. financial institutions, including a new national loan-level snapshot dataset. The release also includes updated HMDA datasets for 2023 and 2021, and enhancements to the Data Browser Dataset Filtering tool for customized report downloads.
Data & statisticsRegulatory reportingSupervisory data
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-475 regarding COP 10,000 banknotes, replacing Circular DTE-203 due to a shift in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-478 on COP 100,000 banknotes, replacing Circular DTE-363 due to a shift in regulatory responsibility to a different internal area.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DEP-474 concerning COP 5,000 banknotes, superseding Circular DTE-202 from July 2024 due to a change in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-477 concerning COP 50,000 banknotes, superseding Circular DTE-205 from June 2025. This update reflects a change in the regulatory oversight area.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released Operational and Services External Circular DEP-476 concerning COP 20000 banknotes, superseding External Circular DTE-204 from December 2024. This update reflects a change in the internal area responsible for the regulation.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DEP-473 concerning COP 2,000 banknotes, superseding Circular DTE-201 due to a shift in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia has issued an external circular on COP 2,000 banknotes, repealing the previous DTE-201 circular from 16 April 2025 in its Treasury Manual.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued a new Operational and Services External Circular for the Treasury Manual concerning COP 50,000 banknotes, repealing the previous circular from 18 June 2025.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Laos•Bank of the Lao
The Bank of the Lao reported on the Securities Commission's second meeting of 2025, which reviewed past resolutions and approved the work plan for H2 2025. Chaired by Deputy Prime Minister Saleumxay Kommasith, the meeting emphasized strengthening the Lao capital market, supporting state-owned enterprise reform, promoting green bonds, and implementing International Financial Reporting Standards for listed companies.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•Laos•Bank of the Lao
The Bank of the Lao PDR reported on Governor Bounkham Vorachit's meeting with a delegation from the Export-Import Bank of Thailand to discuss economic, trade, and investment developments. The discussions included potential cooperation to support Lao and Thai businesses and a strategy to provide Lao kip credit through Lao commercial banks with collateral.
Policy & regulationCooperationOther
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2025-07-07•United States•National Futures Association
The US National Futures Association (NFA) has barred Revankar Consultancy LLC and its former principal, Shailendra Revankar, from reapplying for NFA membership or acting as principals of an NFA Member. This enforcement action follows a Business Conduct Committee decision based on a complaint alleging violations of NFA Compliance Rules, including improper handling of pool assets and failure to prioritize participants' interests.
EnforcementInvestigations & enforcement actionsCompliance
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2025-07-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) held its second Digital Asset Consultative Panel meeting with licensed virtual asset trading platforms, focusing on regulatory developments in Hong Kong's digital asset sector. Discussions included proposals for regulatory regimes for virtual asset dealing and custodian service providers, as well as expanding market accessibility and product offerings. The panel's name was updated to align with the Government’s Policy Statement 2.0 on digital assets.
Policy & regulationCooperation
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2025-07-07•Zimbabwe•Zimbabwe Insurance and Pensions Commission
The Zimbabwe Insurance and Pensions Commission (IPEC) conducted a workshop in Harare to address IFRS 17 compliance issues among funeral assurers and their actuarial advisers. The sector has struggled with reporting due to capacity and skills gaps, impacting its ability to publish quarterly reports since December 2023. The workshop focused on IFRS 17 principles and measurement models, with the sector committing to improve reporting accuracy.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-07-07•Austria•Austria Financial Market Authority
Mariana Kühnel has assumed the role of Executive Director at the Austrian Financial Market Authority (FMA) as of 6 July 2025, succeeding Eduard Müller. Nominated by the Federal Minister of Finance and appointed by the Federal President, Kühnel brings extensive experience in European policy and financial services, including senior positions at Erste Group Bank and the Austrian Federal Economic Chamber.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported Hong Kong's foreign currency reserve assets at USD 431.9 billion as of end-June 2025, up from USD 431.1 billion in May. Including unsettled foreign exchange contracts, the total was USD 431.8 billion. These figures are part of the HKMA's monthly Exchange Fund data releases, aligned with the IMF's Special Data Dissemination Standard.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, phishing emails, and fake internet banking screens affecting Bank of Singapore Limited, China CITIC Bank International Limited, and OCBC Bank (Hong Kong) Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the relevant bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-07•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released an Application Paper on fair treatment of consumers to aid in implementing Insurance Core Principle 19 on conduct of business. The guidance addresses embedding fair treatment in business culture and throughout the insurance product lifecycle, covering areas such as product design, distribution, and customer assistance. The IAIS also published public consultation comments from 2024 and announced a webinar for discussion.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-07-07•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that AIFCAP Managers Ltd has initiated the dissolution and liquidation of ACORN TO OAKS RAIF V.C.I.C. PLC. The fund will remain on the RAIFs Registry with a "under liquidation" notice until the process is finalized. CySEC will remove the fund from the registry upon completion and submission of required documents.
SupervisionAuthorisations & approvalsRecovery and resolution
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2025-07-07•Global•Bank for International Settlements
The Bank for International Settlements released a working paper proposing a method to integrate physical climate risk into banks' credit risk models and capital calculations. The approach modifies the Vasicek framework by adding a physical-risk component, affecting probability of default and loss given default. An example shows risk-weighted assets could increase by 8% to 16% under certain conditions, highlighting the impact of climate-adjusted metrics.
ResearchClimate risk and sustainable finance
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2025-07-07•Global•Bank for International Settlements
The Bank for International Settlements released a paper on achieving "quantum-readiness" in finance, stressing immediate preparation against future quantum threats. It calls for a coordinated overhaul of cryptographic infrastructure, with post-quantum cryptography as a near-term solution and quantum key distribution as a longer-term option. The paper highlights risks like "harvest now, decrypt later" and migration challenges, including performance trade-offs and the need for updated protocols like TLS 1.3.
ResearchQuantum computing
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2025-07-07•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission, with the Thai General Insurance Association and Khon Kaen Chamber of Commerce, launched a pilot project in Khon Kaen to promote "embedded insurance" in the restaurant sector. The initiative connects local operators with insurers, providing third-party public liability coverage to 30 participating restaurants. Plans are underway to expand the project to other regions, including Chiang Mai, Phuket, Chonburi, and Bangkok.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank reported its official gold and foreign exchange reserves at USD 68,415 million as of 30 June 2025, an increase of USD 299 million from the previous month. The international liquidity position rose by USD 412 million to USD 65,216 million, influenced by valuation adjustments and asset price movements, despite a lower US dollar gold price and government foreign exchange payments.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank released a strategic paper on its Payments Ecosystem Modernisation Programme to enhance digital payments and reduce cash dependency. Key initiatives include a new licensing framework for non-bank participation, a national payment utility for improved interoperability, and a real-time gross settlement platform. The programme comprises five sub-programmes, with plans for industry engagement and a majority independent board for the national payment utility.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank's June 2025 statement showed total assets of ZAR 1.27 trillion, a decrease of ZAR 1.12 billion from May. Gold and foreign assets fell to ZAR 1.22 trillion, with lower gold holdings and foreign exchange reserves, partially offset by increased special drawing rights. Liabilities saw an increase in notes and coin circulation, while bank deposits and the contingency reserve account decreased.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported that the Financial Stability Coordination Council reviewed the financial stability outlook and proposed reforms to the deposit insurance system. Despite global and local shifts, Philippine banks are well-capitalized with sufficient liquidity buffers. The Council also examined vulnerabilities related to geopolitical tensions and domestic liquidity shifts, and discussed enhancements to its analytical toolkit for systemic risk monitoring.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported an 11.3% year-on-year increase in outstanding loans from universal and commercial banks in May, driven by business and consumer lending. Lending to residents rose by 11.8%, while loans to non-residents decreased by 6.6%. The bank emphasized its role in monitoring lending as a key monetary policy tool to maintain liquidity and financial stability.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-07•Philippines•Central Bank of the Philippines
Digital payments in the Philippines accounted for 57.4% of monthly retail transactions by volume and 59.0% by value in 2024, up from 52.8% and 55.3% in 2023. Merchant payments, person-to-person transfers, and business-to-business supplier payments were key drivers, comprising 93.2% of digital payment volume. The BSP is committed to enhancing the payments ecosystem through interoperability, partnerships, and consumer safety initiatives.
ResearchPayments and payment systems
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a rise in the country's gross international reserves to USD 105.3 billion at end-June 2025, up from USD 105.2 billion in May, driven by government foreign currency deposits and BSP investment income. The reserves cover 7.2 months of imports and 3.3 times the short-term external debt. Net international reserves also increased by USD 0.3 billion to USD 105.3 billion.
Data & statisticsBalance of payments and other external statistics