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2025-07-07•Morocco•Central Bank of Morocco
The Central Bank of Morocco's Coordination and Systemic Risk Monitoring Committee approved the 2024 financial stability report and roadmap, noting resilience in banks and insurers but rising credit risks and strained public-sector pensions. Projections indicate GDP growth of 4.6% in 2025 and 4.4% in 2026, with inflation at 1.1% and 1.8%. The committee emphasized pension reform and progress in anti-money laundering and counter-terrorist financing before MENAFATF evaluations in 2026.
Policy & regulationReform agendas & priorities
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2025-07-07•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) issued an alert regarding a counterfeit surety bond policy falsely attributed to Croatia Osiguranje d.d., which the insurer has disowned. IVASS emphasized the importance of verifying insurers and intermediaries through its official registers and warnings. The Croatian Financial Services Supervisory Agency (HANFA) also flagged unrelated email addresses linked to the fraudulent activity.
SupervisionAlertsFraud and scams
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2025-07-07•Europe•European Council
The European Council published remarks by the Eurogroup President, confirming support for his continued tenure and setting priorities for fiscal coordination, the digital euro, and the savings and investment union. The Eurogroup reaffirmed fiscal restraint, except for defence spending, and confirmed the lev-to-euro conversion rate for Bulgaria's euro adoption. Ministers reported convergence on digital euro holding limits and will continue work on the Capital Markets Union agenda with an autumn stocktake of EU capital market performance.
Policy & regulationReform agendas & prioritiesCurrency and cash managementFinancial stability and systemic risk
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2025-07-07•Serbia•National Bank of Serbia
The National Bank of Serbia announced expanded cooperation with Discover, allowing Discover cards issued outside Serbia to be accepted via the DinaCard network. This follows the existing co-branded DinaCard-Discover product, which supports international use. Banka Poštanska štedionica will be the first bank to facilitate Discover card acceptance at its merchants and ATMs, with other banks expected to follow.
Policy & regulationCooperationCross-border payments
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2025-07-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and Kazakhstan’s Agency for Regulation and Development of the Financial Market held meetings to exchange regulatory experiences under a bilateral technical cooperation framework. Discussions included securities registration, Islamic securities regulation, securitisation, and green bonds. The visit, part of a Memorandum of Understanding signed in May 2025, aims to enhance information exchange and market oversight.
Policy & regulationCooperationCross-border cooperation
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2025-07-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has revised liquidity risk management rules, applying the Liquidity Coverage Ratio (LCR) in total and national currency. Systemically important banks must meet a national-currency LCR starting at 50% from 1 August 2025, increasing to 100% by 1 June 2027, while other banks start at 40%, reaching 100% by 1 December 2027. The amendments also expand high-quality liquid assets to include bank metals, state-guaranteed securities, overnight deposits, and short-term funds with the Central Bank.
Policy & regulationRules & requirementsLiquidity risk
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2025-07-07•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released Periodical No. 193 (June 2025), detailing its regulatory, supervisory, and institutional activities. The publication also aims to enhance consumer and investor understanding of the markets it oversees.
Other
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2025-07-07•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said disruptions in the Instant Payment System were caused by some entities breaching required authorization and crediting deadlines and using noncompliant mass messaging flows. It has implemented corrective measures and will determine participant-specific actions. The SPI is now operating normally.
SupervisionInterventionsOperational risk and resilience
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2025-07-07•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, in collaboration with the Derivative Broker Association in Cambodia, hosted a seminar on investment in Cambodia’s derivatives market. The event was supported by STMARKET Company Limited and Blackwell Global Investment (Cambodia) Co., Ltd, and presided over by SERC Director General Sou Socheat.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-07-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a consumer warning about a fake news article promoting investment opportunities with FortuixAgent, which is not licensed or regulated by the Commission. The article falsely uses the Commission’s logo, and consumers are advised to verify a company’s regulatory status before investing. The Commission also directed residents to its website for information on investment scams and reporting procedures.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-07-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has appointed four new Senior Decision Makers to its enforcement panel, now totaling 12 members. The expansion aims to enhance availability and expedite case outcomes, not due to increased enforcement activity, as ongoing cases have slightly decreased. New appointees include Mr Raymond Cox KC, Mr Jonathan Kinnear KC, Mr Thomas Munby KC, and Mr Andrew Webster KC.
Institutional developmentLeadership change & appointments
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2025-07-07•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued an investor alert regarding JC Team Capital Inc. and its director, Parthkumar Jani, for potentially encouraging investments without proper registration. The OSC highlighted that Mr. Jani may be active in the Scarborough and Markham areas and urged investors to verify registration status and report any approaches to the OSC.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-07•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC hosted its third annual Sustainability Week, focusing on sustainability practices and climate-risk awareness. The event included sessions on the Philippine Sustainable Finance Taxonomy Guidelines and sustainable investments, plus activities like tree planting. The SEC highlighted initiatives such as the 2024 Sustainable Enterprise Collaboration Network and mandatory annual sustainability reports for publicly listed companies.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-07•Poland•Central Bank of Poland
The National Bank of Poland reported a decrease in Poland’s official reserve assets to EUR 211.1 billion at the end of June 2025, down EUR 4.1 billion from May, while the US dollar value increased by USD 4.0 billion to USD 247.6 billion. The central bank emphasized that its foreign exchange reserve management prioritizes safety and liquidity, with investments primarily in Treasury securities and diversified global equity exposure.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission advised holders of 13 series of Energy Absolute Public Company Limited bonds to review information and exercise voting rights at the bondholders' meeting on 9 July 2025. The agenda includes waivers for procedural non-compliance and requests for event of default exemptions to modify restructuring proposals, including maturity extensions, interest rate increases, and principal repayment schedules. The SEC expects bondholders’ representatives to analyze the implications of approval or non-approval and encourages investor inquiries before voting.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-07•United Kingdom•Bank of England
The Bank of England’s Prudential Regulation Authority, the Financial Conduct Authority, and the Society of Lloyd’s will streamline regulatory approval for Lloyd’s managing agents, cutting the authorisation timeframe from 12-18 months to around six months. This revised approach, following a successful 2024 pilot, aims to improve efficiency and reduce oversight duplication while maintaining entry standards. The changes align with the PRA’s and FCA’s secondary competitiveness and growth objectives.
Policy & regulationCooperationLicence approval
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2025-07-07•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority's Coordination and Systemic Risk Monitoring Committee approved the 12th edition of Morocco’s 2024 Financial Stability Report, noting resilience in banks and insurers despite rising credit risk and pension imbalances. The committee projects domestic growth of 4.6% in 2025 and 4.4% in 2026, with inflation at 1.1% and 1.8% respectively, and stressed the need for pension reform and stronger anti-money laundering measures. The MASI equity index rose 25% by July 2025, and UCITS net assets increased 21.2% since end-2024.
SupervisionRisk monitoring & watch points
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2025-07-07•Europe•European Payments Council
The European Payments Council (EPC) seeks Directory Service Providers with directories of Bank Identifier Codes (BICs), national identifiers, and IBAN ranges to validate routing algorithms for the Verification of Payee (VOP) scheme. This initiative supports the EPC Directory Service, ensuring secure participant identification and enhancing reachability and interoperability within the VOP scheme. The EPC aims to verify Account Holding BICs and test the IBAN-to-BIC mapping algorithm for routing VOP requests.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini issued updated E10 and E20 banknotes reflecting the name change from Swaziland to Eswatini, maintaining design, colour, size, and substrate. The new notes feature enhanced security threads and Governor Dr. Phil Mnisi's signature, with a Government Gazette confirming their legal tender status effective 1 April 2025. The Bank advises vigilance against counterfeit and dye-stained notes, noting a decline in ATM bombing incidents.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-07-07•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper exploring development scenarios for the retail unit investment funds (UIFs) market. Key proposals include expanding eligible assets, revising financial leverage limits, and considering fund-of-funds structures. The paper also suggests reducing settlement timelines for UIF transactions and potentially allowing digital financial assets, subject to regulatory frameworks.
Policy & regulationRules & requirementsOther
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2025-07-07•Russia•Central Bank of Russia
The Central Bank of Russia reported on the BRICS finance ministers and central bank governors meeting in Rio de Janeiro, focusing on financial cooperation under Brazil's presidency. Key topics included cross-border payments, settlement infrastructure, reinsurance plans, the Contingent Reserve Arrangement, transition finance, and information security. The BRICS Innovation Hub also explored AI use and regulation in the financial market, with further expert work anticipated in late 2025 and India assuming the presidency in 2026.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-07-07•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has directed the Egyptian Pool for Compulsory Insurance for Civil Liability to expedite compensation payments for the Regional Ring Road accident victims, in accordance with the Unified Insurance Law. The pool is instructed to promptly engage with victims' families and injured parties to facilitate the payment of EGP 100,000 per death and injury compensation based on assessed disability percentages.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) has imposed a NOK 700,000 penalty on Forvis Mazars AS for serious deficiencies in audit execution, including a public interest entity audit. The report highlights issues in the firm's quality management, governance, and compliance with anti-money laundering requirements, citing inadequate audit evidence, procedural weaknesses, and errors in audit opinions. Finanstilsynet expects corrective actions in line with International Standard on Quality Management 1 (ISQM 1).
EnforcementInvestigations & enforcement actionsAuditing
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Nguyen Tat Thai as Deputy Head of its Forecasting, Statistics and Monetary and Financial Stability Department. This appointment aligns with the bank's integration of functions and staff from the National Financial Supervisory Commission, part of a broader political system streamlining.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Nguyen Huyen Diu as Deputy Director General of its Monetary Policy Department for a five-year term, effective from 4 July 2025. Diu, previously Head of the Research and Synthesis Division, was appointed to address the department's increasing workload and its pivotal role in monetary policy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Lê Hoàng Chính Quang as Director General of its Information Technology Department. Deputy Governor Phạm Tiến Dũng emphasized priorities such as enhancing system integration, digitizing administrative processes, and developing a technology renewal roadmap. The department will also focus on data repository research and ensuring system security.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Võ Minh Tuấn as director of Regional Branch 2 and confirmed its revised operating model effective 1 July 2025. The branch, covering Ho Chi Minh City and Dong Nai, oversees monetary, credit, and foreign-exchange policy, managing over 700 credit institution branches. It will prioritize cash operations, payment connectivity, and inspection while aligning with State Bank and local government directives for the latter half of 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has approved a 2025 plan to streamline 76 administrative procedures impacting production and business activities. The plan includes 69 procedures in foreign exchange, one in payments, three in monetary operations, and three in banking information technology. SBV departments are responsible for drafting the necessary legal documents to implement these measures.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-07-07•United States•U.S. Securities & Exchange Commission
The SEC’s Small Business Capital Formation Advisory Committee will meet publicly on July 22, 2025, to discuss Regulation A updates and approaches for "finders" in private-market capital raising. The agenda includes finalizing Regulation A improvements and exploring a limited exemption from broker registration for finders. Industry experts will provide insights on regulatory solutions and safeguards.
Policy & regulationReform agendas & prioritiesCrowdfunding
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2025-07-07•Egypt•Central Bank of Egypt
The Central Bank of Egypt has mandated banks to assist exporting clients in meeting international sustainability standards, including the Carbon Border Adjustment Mechanism (CBAM). This directive aims to align carbon emissions with EU and UK benchmarks to ease market entry for Egyptian goods. Banks are required to report their exporting clients to the Central Bank to manage potential banking stability risks associated with CBAM.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-07-07•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde's Governor and Administrator attended the symposium "Credibility of Central Banks and Monetary Policy" in Maputo, focusing on central bank credibility, transparency, and financial inclusion. Discussions underscored credibility as crucial for anchoring inflation expectations and promoting financial stability, while noting that monetary policy and communication alone may not ensure price stability.
OtherMonetary policy decisions and developments
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2025-07-07•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde participated in the Cape Verde Investment Forum, highlighting investment opportunities and digitalisation initiatives. Discussions covered tourism, transport, digitalisation, renewable energy, and the blue economy, with a focus on artificial intelligence, blockchain, and central bank digital currency. The event also addressed the Global Gateway in Cape Verde and European investment tools.
Policy & regulationCooperationFintech and insurtechArtificial intelligenceBlockchain and distributed ledger technology
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2025-07-07•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde's Behavioral Supervision Office joined ADECO's "Easy Financial Services for Everyone" project, conducting sessions to enhance understanding and safe use of financial services. Linked to a protocol with ADECO and statutory responsibilities under the Basic Law of the Financial System, the initiative aimed to strengthen financial literacy, consumer rights awareness, and knowledge of complaints and protection mechanisms. Sessions covered financial products, payment services, and consumer protection across banking, capital markets, and insurance.
Financial literacy & educationFinancial literacy and education
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2025-07-07•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde and the West African Monetary Union Banking Commission signed a cooperation convention to enhance information sharing and joint supervision of regulated institutions, including cross-border entities. The agreement was signed by Central Bank of West African States Governor Jean-Claude Kassi Brou and Bank of Cape Verde Governor Óscar Santos in Maputo.
SupervisionCooperationCross-border cooperation
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2025-07-07•Cape Verde•Bank of Cape Verde
Governor Óscar Santos and Alice Benchimol of the Bank of Cape Verde attended the African Development Bank's 60th Annual Meeting and the African Development Fund's 51st Annual Meeting in Abidjan. The meetings focused on leveraging Africa's resources for structural transformation towards inclusive, greener, and resilient economies, discussing digital transformation, institutional strengthening, and governance. These efforts align with the Sustainable Development Goals, the Paris climate agreement, Agenda 2063, and the African Development Bank's "High 5" priorities.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-07•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub Nordic Centre has initiated Phase 2 of Project Aurora, focusing on payment data, privacy-enhancing technologies, and advanced analytics to enhance anti-money laundering detection. This phase will include learning initiatives, real-world proofs of concept, and stakeholder engagement, building on Phase 1's findings that demonstrated increased detection capabilities and reduced false positives.
Policy & regulationImplementation, projects & pilotsAML and CFTArtificial intelligence
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2025-07-07•India•Securities & Exchange Board of India
SEBI released a study comparing trading in the Equity Derivatives Segment and the cash market post-October 2024 measures to enhance the equity index derivatives framework. The study highlights a year-on-year decline in index options turnover and individual investor participation, despite higher activity levels compared to two years ago. SEBI will continue monitoring index options turnover to ensure investor protection and market stability, referencing its May 2025 measures for improved derivatives risk monitoring and oversight.
ResearchTrading
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2025-07-07•United Arab Emirates•General Pension and Social Security Authority
The UAE's General Pension and Social Security Authority (GPSSA) will enforce penalties on employers for late pension contributions for GCC national employees, starting 1 July 2025. Contributions are due between the 1st and 15th of each month, with a 0.1% daily penalty for late payments. Employers must register GCC nationals within one month of employment and remit contributions to the employee’s home country per the unified insurance protection system.
EnforcementSanctions & designationsOther
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2025-07-07•Moldova•National Bank of Moldova
The National Bank of Moldova released a video detailing its role in supporting Moldova's European integration by aligning the financial system with EU standards. The video emphasizes EU accession as a chance to harmonize legislation, enhance investor confidence, and improve citizen protections. Governor Anca Dragu highlights the bank's role as a catalyst in financial-sector reforms and Moldova's entry into the Single Euro Payments Area.
Financial literacy & educationCross-border cooperation
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2025-07-07•Moldova•National Bank of Moldova
The National Bank of Moldova reported an increase in official reserve assets to EUR 5,070.24 million as of 30 June 2025, up EUR 221.49 million from the previous month. This rise was primarily driven by inflows from the Ministry of Finance, including significant contributions from European Commission budget-support lending and grants. Offsetting factors included exchange-rate depreciation and FX sale interventions.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) is working with industry stakeholders to create a voluntary net zero transition plan template for trust-based occupational pension schemes, based on the UK Transition Plan Taskforce framework. This template helps trustees manage transition risks and identify investment opportunities, integrating climate, nature, societal factors, and adaptation. TPR will continue collaborating with UK authorities, has joined the United Nations Global Compact, and is expanding its climate and sustainability team.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-07•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE imposed financial sanctions totaling 4,100,000 AED on three exchange houses for non-compliance with anti-money laundering and combating the financing of terrorism (AML/CFT) policies. This enforcement action follows examinations conducted under Article (14) of Federal Decree Law No. (20) of 2018 and its amendments.
EnforcementSanctions & designationsAML and CFT
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2025-07-07•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank marked 49 years of the Eastern Caribbean dollar's fixed exchange rate to the US dollar at EC$2.70 to USD 1.00, emphasizing its role in monetary stability. Governor Timothy N. J. Antoine noted the 1976 shift from the pound sterling to the US dollar, attributing it to low inflation and enhanced investor confidence.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-07-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General concerning non-compliance with a Disciplinary Board decision by former and current board members of a company previously listed on Boursa Kuwait. The decision, requiring payment of a fine, was validly served in May 2025 under Resolution No. (83/2024 Disciplinary Board – 114/2021 Authority).
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-07-06•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) showcased its initiatives to promote the insurance sector at the Saba Saba trade fair, receiving commendation from the Deputy Permanent Secretary of the Ministry of Finance, Jenifa C. Omolo. TIRA's participation included over 30 insurance service providers and educational seminars, with a focus on supervising health insurance schemes.
Financial literacy & educationOther
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2025-07-06•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority highlighted the importance of implementing universal health insurance laws and expanding public education during the Saba Saba exhibition. CPA Moremi Marwa, chair of the Bima ya Taifa board, commended TIRA for organizing an 'Insurance Village' to facilitate collaboration among insurers, agents, and the National Health Insurance Fund.
Financial literacy & educationOther
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2025-07-06•Mexico•CONDUSEF
Mexico’s CONDUSEF reported a 10.1% increase in complaints in Yucatán, totaling 3,083 from January to May 2025, with disputed amounts reaching MXN 87.5 million. Credit and debit cards were the most cited products, with unrecognised online purchases and abusive collection practices as leading issues. Commercial banks accounted for 52.9% of complaints, with a significant portion related to older adults and potential fraud.
Data & statisticsComplaints and dispute resolution
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2025-07-06•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission highlighted a government conference where Prime Minister Pham Minh Chinh directed institutional reform, decentralization, and digital transformation. Actions include integrating all online public services into the National Public Service Portal by July 2025 and piloting a crypto-asset market. The Ministry of Finance must adjust provincial growth targets and enhance public investment disbursement.
Policy & regulationReform agendas & prioritiesOther
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2025-07-06•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority and the Ministry of Foreign Affairs have revised the personal accident insurance policy for Egyptians working abroad, effective July 2025. The optional policy raises the coverage limit for death and total permanent disability to EGP 250,000 and extends eligibility to all Egyptians abroad, including those without work permits. The Egyptian Pool for Travel Insurance Abroad will manage the policy, allowing subscriptions via its website, app, or WhatsApp.
Policy & regulationRules & requirementsOther
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2025-07-06•Egypt•Central Bank of Egypt
The Central Bank of Egypt and the COMESA Monetary Institute conducted a five-day training on micro and macro stress testing for central banks. Held at the Egyptian Banking Institute in Cairo, it included 28 participants from 11 COMESA member states and covered credit, liquidity, climate change, and interbank contagion risks. The event concluded with proposals on stress testing and regulatory frameworks to be discussed by central bank governors in November 2025.
Policy & regulationImplementation, projects & pilotsCapacity buildingMacroprudential policy and tools
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2025-07-05•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) warned against PT Investindo Public Optima, clarifying it hasn't approved the firm's operations or use of its name and logo. The OJK emphasized unauthorized use is illegal and may lead to criminal sanctions, urging the public to engage only with licensed entities. It reiterated that no fees are charged for licensing beyond those specified in Government Regulation No. 41 of 2024.
SupervisionAlertsSecurities offerings and listings
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2025-07-05•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) has launched the fourth year of its "OIC: Be Smart First Jobber" programme at Khon Kaen University, focusing on insurance-based financial and risk management skills for students. This year's initiative, held in Thailand's northeast, includes career discussions, insurance lectures, and a mini job fair. The programme has previously engaged over 30,000 participants across nine locations.
Financial literacy & educationOther
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2025-07-05•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten addressed reports of potential counterfeit 20-guilder banknotes, stating no such notes have been received by the Bank or police, and the likelihood of counterfeits entering circulation is low. The Bank emphasized the advanced security features of Caribbean guilder banknotes and urged the public to familiarize themselves with these features and report any suspected counterfeits. Guidance on identifying genuine notes is available online and via the My Caribbean Guilder app.
SupervisionAlertsFraud and scams
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2025-07-05•Global•Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) Council adopted IFSB-31, a new standard for supervising Shari’ah governance in Islamic financial institutions, promoting proportionate implementation and consistent outcomes. Additionally, the Council approved GN-10 to aid in developing recovery and resolution frameworks for takaful undertakings, aligning with international standards.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-05•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has reorganized its Region 12 branch, appointing Tạ Thành Long as Director and several Deputy Directors, with headquarters in Hung Yen province. The branch will oversee banking operations in Hung Yen and Bac Ninh, managing 130 credit-institution branches and 196 People’s Credit Funds. This reorganization aligns with broader administrative streamlining and provincial-level mergers.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-07-04•Italy•Ministry of Finance (Italy)
Italy's Ministry of Economy and Finance has released a draft regulation to update the public system for preventing fraud in consumer credit, focusing on identity theft and aligning with the EU General Data Protection Regulation. The proposal introduces anti-money laundering measures, provisions for personal data processing, and reduces fees for data verification requests. A public consultation is open for feedback.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-04•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released statistics on the Central Information Archive for June 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-04•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission released results for the 29th Financial Advisers Exam, conducted in June 2025 by the Australian Council for Educational Research. Of 237 candidates, 66% passed, with 75% being first-time examinees. Unsuccessful candidates will receive feedback on underperformance areas. To date, 21,991 candidates have taken the exam, with a 92% pass rate.
Data & statisticsOther
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2025-07-04•Australia•Australian Securities & Investments Commission
The Federal Court has dismissed the Australian Securities & Investments Commission's (ASIC) civil penalty proceedings against TerraCom's managing director and former officers over alleged false disclosures to the Australian Securities Exchange and failures in director duties. ASIC is considering an appeal. Separately, ASIC's whistleblower victimisation case against TerraCom is set for a case management hearing on 11 July 2025.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-04•Montenegro•Central Bank of Montenegro
Governor Irena Radovic of the Central Bank of Montenegro attended the IMF and World Bank Constituencies Annual Meeting, addressing geopolitical and economic uncertainty, fiscal resilience, and the green transition. Radovic moderated a session on EU enlargement, stressing the importance of adopting the EU acquis and regional cooperation. She also held bilateral meetings to enhance Montenegro's institutional capacities and discussed cooperation models with the International Finance Corporation under the World Bank Group's Partnership Framework.
Institutional developmentCooperation & capacity buildingGeopolitical riskFinancial stability and systemic risk
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2025-07-04•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority released provisional data showing strong investment returns for the Mandatory Provident Fund as of June 2025. Equity Funds and Mixed Asset Funds achieved 19.3% and 12.5% net returns over the past year, while the Core Accumulation Fund under the Default Investment Strategy reported a 10.5% net return. The MPFA emphasized the long-term nature of MPF investments and highlighted features of the Default Investment Strategy, including global diversification and a fee cap reduction upon joining the eMPF Platform.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-04•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) is hosting an exhibition at the Central Government Offices to promote the eMPF Platform to civil servants, supported by the Civil Service Bureau. Running from 30 June to 11 July, the event includes registration assistance via the “iAM Smart” app and information on MPF schemes. MPFA Chairman Mrs Ayesha Macpherson Lau emphasized timely registration for over 130,000 civil servants enrolled in MPF schemes.
Financial literacy & educationOther
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2025-07-04•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority (DFSA) issued Consultation Paper 167 to enhance the DFSA Rulebook, aligning it with the Basel Core Principles. Key proposals focus on risk governance, credit risk, concentration risk, and related person transactions, with significant changes for Authorised Firms in prudential Categories 1, 2, and 5. The proposals include clearer risk management responsibilities, updated credit risk provisioning rules, and expanded definitions and requirements for concentration and related person risks.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-07-04•Panama•Superintendencia de Bancos de Panama
The Panama Superintendency of Banks hosted the 115th session of the Board of Directors of the Association of Bank Supervisors of the Americas (ASBA), focusing on strategic priorities for regional financial system development. Discussions included ASBA's operational initiatives, the Strategic Plan 2026–2029, banking digital transformation, and supervisory approach evolution. The session aimed to enhance coordination and joint actions among ASBA's 41 member institutions from 36 jurisdictions.
SupervisionCooperationCross-border cooperation
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2025-07-04•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released May 2025 data showing a decline in short-term deposit and consumer loan rates, with slight increases in mortgage and corporate loan rates. Net new lending decreased to EUR 297.8 million, with notable rises in consumer and home purchase lending, while lending to larger non-financial corporations fell. Cyprus loan rates remain near the euro area average, with comparative data available via the European Central Bank’s Data Portal.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-04•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance is separating the fiduciary business of CIBanco and Intercam Banco to temporarily transfer it to Mexican development banks. This will be coordinated with supervisory authorities, maintaining oversight by the National Banking and Securities Commission. A mechanism will be implemented to permanently transfer the fiduciary business to private institutions, ensuring continuity and legal certainty.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-07-04•North Macedonia•National Bank of the Republic of North Macedonia
Governor Dr. Trajko Slaveski and Finance Minister Gordana Dimitrieska-Kochoska led North Macedonia's delegation to the IMF and World Bank annual meeting in Luxembourg. Discussions with senior IMF and World Bank officials emphasized the central bank's role in macroeconomic stability, financial inclusion, digitalization, and regulatory framework enhancement.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-07-04•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan's Appellate Bench resolved 124 appeals in the 2024–2025 financial year, upholding 113 decisions and overturning 11. The appeals addressed regulations like the Insurance Ordinance, Securities Act, Companies Ordinance, Non-Banking Finance Companies Regulations, and Anti-Money Laundering and Countering Financing of Terrorism Regulations. Additionally, 73 new appeals were registered, with sessions held in regional offices to accommodate appellants outside Islamabad.
SupervisionOtherAML and CFT
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2025-07-04•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia attended the IMF and World Bank Constituency Meeting, highlighting the bank's sustainable finance framework and taxonomy. Effective since 2023, it defines green, social, and sustainable finance loans and mandates disclosure requirements, with green loans comprising 2% of the total loan portfolio by December 2024. Turnava emphasized the need for regional and international harmonisation to reduce fragmentation and support cross-border alignment.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-04•Europe•European Banking Authority
The European Banking Authority released a hotfix for Reporting Framework 4.1 to address technical issues and enhance reporting consistency and accuracy. It postponed the mandatory use of the xBRL-CSV format from December 2025 to March 2026 in Reporting Framework 4.2. The hotfix includes an issues list detailing inconsistencies and interim solutions pending version 4.2 updates.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-04•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority achieved LEED certification for BMA House, highlighting its commitment to sustainability. Additionally, Bermuda's new two- and five-dollar banknotes received international recognition for design and security, with the five-dollar note winning the International Bank Note Society’s Bank Note of the Year for 2024. The notes, printed on polymer by De La Rue, feature enhanced durability and advanced security elements.
Institutional developmentOtherClimate risk and sustainable finance
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2025-07-04•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) hosted a seminar on regulation amid digital transformation, with opening remarks by President Margarida Corrêa de Aguiar. The address highlighted digital transformation's impact on insurers' models and risks, stressing the need for balanced supervision. Corrêa de Aguiar emphasized ASF's commitment to addressing digitalisation challenges and integrating technological innovation into supervisory activities.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-07-04•Portugal•Bank of Portugal
The Bank of Portugal released Q1 2025 Central Balance Sheet statistics, noting a second consecutive quarterly decrease in corporate financing costs to 4.7%. Financial autonomy remained stable at 45.6%, while profitability was largely unchanged at 9.3%. The report highlights sector-specific variations, with declines in head offices and electricity, gas, and water, and increases in transport, storage, and construction.
Data & statisticsBalance of payments and other external statistics
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2025-07-04•Portugal•Bank of Portugal
The Bank of Portugal released updated May 2025 statistics on interest rates and volumes for new bank loans and deposits. The average rate on new household term deposits fell to 1.49%, marking the 17th consecutive monthly decline, while new housing credit rates dropped to 2.96%. New household borrowing totalled EUR 3,289 million, with consumer credit contracts reaching EUR 628 million, the highest since 2014.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-04•Laos•Bank of the Lao
The Bank of the Lao's Governor, Bounkham Vorachit, hosted Vietnam’s Ambassador to Laos, Nguyen Minh Tam, to discuss Laos–Vietnam banking cooperation. The meeting emphasized experience exchange, ongoing support, and strengthening ties between the Bank of the Lao, the State Bank of Vietnam, and commercial banks.
Other
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2025-07-04•Laos•Bank of the Lao
The Bank of the Lao participated in the 43rd ASEAN+3 Bond Market Forum and the 32nd Cross-Border Settlement Infrastructure Forum in Kyoto, Japan, discussing its use of information technology in foreign exchange management and the Lao foreign exchange market system (LFX). Deputy Governor Soulisack Thammavong highlighted LFX's role in enhancing transaction safety, transparency, and currency stability, noting improved convenience and exchange-rate stability since its launch in August 2024. Inflation in Lao PDR decreased from double digits in 2024 to 7.2% in June 2025.
Policy & regulationCooperationCross-border cooperation
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2025-07-04•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority secured convictions against Raymondip Bedi and Patrick Mavanga, resulting in a combined 12 years' imprisonment for a crypto investment fraud defrauding GBP 1,541,799 from at least 65 investors. The fraud involved cold-calling and selling fake crypto investments between 2017 and 2019. Sentences included conspiracy to defraud, breach of the Financial Services and Markets Act 2000, money laundering, and other offences, with confiscation proceedings ongoing.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-04•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia announced that Deputy Delegate for Capital Markets, Magda Fernanda Vásquez, attended the 26th Meeting of Authorities of the Ibero-American Institute of Securities Markets in San Salvador. Discussions focused on capital markets development, innovation, and supervision of new actors, with Panama elected to preside over the IIMV for the next two years. Colombia aims to enhance its supervisory capabilities through involvement in the IIMV.
Policy & regulationCooperationMarket developmentSupervision process and methodologies
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2025-07-04•Colombia•Superintendencia Financiera de Colombia
Superintendent César Ferrari of the Financial Superintendence of Colombia emphasized the importance of credit access for the popular economy at Asobancaria’s “Popular Economy Awards.” He highlighted challenges faced by small businesses, which constitute 98% of Colombia's business fabric, including limited access to credit. The awards celebrated initiatives supporting small merchants, rural women, and housing projects.
Policy & regulationReform agendas & prioritiesOther
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2025-07-04•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism appointed Nicolas Vasse as its new Executive Director, marking a milestone in AMLA's operationalisation. Vasse brings over 20 years of experience from EU agencies and advisory roles, including positions at the European Securities and Markets Authority and the Single Resolution Board. He will oversee AMLA's operations, budget implementation, and human resources management.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-04•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has appointed Nicolas Vasse as its new Executive Director, marking a milestone in the agency’s operationalisation. Vasse will manage AMLA’s operations, including budget implementation and human resources oversight, and support the Executive Board on strategic decisions. He brings over 20 years of experience from EU agencies and advisory roles, including his tenure as Head of Operations at the European Securities and Markets Authority.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-04•Bolivia•Financial System Supervisory Authority of Bolivia
The Financial System Supervisory Authority of Bolivia is showcasing its commitment to financial inclusion and education at the La Paz Expone fair through an interactive stand featuring ASFI Digital and virtual assistant IAN. The stand offers technology-based content and audiovisual presentations on financial regulation and supervision as part of Bolivia's bicentennial celebrations.
Financial literacy & educationFinancial literacy and education
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2025-07-04•Sweden•Riksbank
Sweden's Riksbank has mandated more detailed and frequent reporting of payment statistics by payment service providers and system operators to enhance monitoring of the Swedish payments market. The regulations, effective from October 2026, require reporting on transaction flows and stock-type information with varying frequencies. Reporting agents must submit data electronically and may need to correct inaccuracies or explain anomalies.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-04•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority's Quarterly Report reveals a 1.2% decrease in Austrian investment funds’ assets under management to EUR 227.8 billion in Q1 2025, despite net inflows. Mixed funds remained the largest category, while equity and real estate funds experienced notable declines. The report highlights that 80% of Austrian funds complied with the European Securities and Markets Authority's ESG naming guidelines, with 186 funds amending rules and 53 removing ESG references or closing.
SupervisionRisk monitoring & watch pointsFinancial and market indicatorsSupervisory data
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2025-07-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan participated in the 43rd ASEAN+3 Bond Market Forum in Kyoto, presenting the state and prospects of its domestic bond market. The forum, part of the ASEAN+3 initiative, aims to integrate regional bond markets with a multi-currency issuance framework. Kazakhstan, which gained observer status in May, was represented by the National Bank, Kazakhstan Stock Exchange, and Central Securities Depository.
Policy & regulationCooperationOther
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2025-07-04•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 reissued the securities market licence of JSC Alatau City Bank, formerly JSC First Heartland Jusan Bank, to reflect its name change. This was enacted under a 2 July 2025 order by the Deputy Chairman (No. B-179).
SupervisionAuthorisations & approvalsLicence approval
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2025-07-04•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has released a consultation paper on proposed legislative changes to modernize the regulatory framework for pension schemes and providers, outlined in a draft Retirement Benefits Schemes (Amendment) Bill. The draft Bill aims to revise the Retirement Benefits Schemes Act 2000 and amend related financial legislation to enhance consumer protection and support a risk-based supervisory approach. Further consultations on the detailed framework are anticipated.
Policy & regulationRules & requirementsAML and CFTRegulatory burden
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2025-07-04•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing Chilean customs and firm-to-firm transaction data to quantify CO2 emissions and assess the macroeconomic effects of green transition policies like carbon taxes. Covering data from 2005 to 2022, it highlights electricity generation as the largest emissions source, with significant downstream impacts, while copper mining is most affected by carbon tax scenarios. The paper finds private consumption and exports contribute 47% and 40% to emissions, respectively.
ResearchClimate risk and sustainable finance
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2025-07-04•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has approved changes to the calculation of premium reserves and risk capital requirements for short-term insurance contracts, shifting from an aggregate to an underwriting category basis. This aims to better reflect underlying risk and align with international standards. The amendments, endorsed on 22 May 2025, will take effect on 31 December 2025.
Policy & regulationRules & requirementsPrudential risks
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2025-07-04•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority announced that HilCap Asset Management Trust reg., now HilCap Trust reg., had its asset management company licence expire on 2 July 2025. This follows the firm's written waiver of the licence granted in October 2006, rendering it unauthorized to provide or broker services under Article 3 of the VVG.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-04•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority's Annual Report 2024 outlines major regulatory updates, including a new legal framework for banks and investment firms, and pre-implementation of the Markets in Crypto-Assets Regulation and the Digital Operational Resilience Act. Key changes involve separate prudential laws, revised licensing and compliance requirements, and new ICT security supervisory processes. The report also details enforcement activities, with fines totaling CHF 971,500 and 41 criminal complaints filed, and notes upcoming regulatory transitions and legislative revisions.
SupervisionSupervision approach, priorities & toolkitAccounting and financial reportingSupervision process and methodologies
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2025-07-04•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
Governor Jasmina Selimovic of the Central Bank of Bosnia and Herzegovina attended the Belgian-Dutch Constituency annual meeting in Luxembourg, discussing EU enlargement and policy priorities amid geopolitical fragmentation. Sessions addressed EU enlargement conditions, World Bank Group priorities, climate transition, digital transformation, and fiscal policy under new geopolitical conditions. Selimovic also held bilateral meetings on cooperation and aligning with Eurosystem central bank practices.
Policy & regulationCooperationCross-border cooperation
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2025-07-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) launched "The Governors Speak," a book series compiling speeches by Philippine central bank governors to document the evolution of central banking. BSP Governor Eli M. Remolona, Jr. highlighted the importance of clear and credible communication during the launch, which coincided with the BSP’s 32nd anniversary celebrations. The series is available digitally on the BSP website.
Other
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2025-07-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) launched "The Governors Speak," a three-volume series compiling speeches from past and present governors to document the evolution of central banking in the Philippines. The series covers early governance, transformative leadership, and current initiatives. BSP Governor Eli M. Remolona, Jr. emphasized the importance of clear communication in central banking during the launch, attended by former governors.
Other
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2025-07-04•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) continues its investigation into Senior Trust Capital Limited regarding compliance with the Financial Markets Conduct Act 2013, following the company's withdrawal of its public share offer. The FMA has also engaged with the company to ensure investor communication and issued a separate update on a related entity, Senior Trust Retirement Village Income Generator Limited.
SupervisionReviews, inspections & stress testsDisclosures
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2025-07-04•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) imposed SGD 27.45 million in penalties on nine financial institutions, including Credit Suisse Singapore Branch and United Overseas Bank Limited, after supervisory examinations related to the August 2023 money laundering case. The breaches were due to inadequate AML/CFT controls. MAS issued prohibition orders and reprimands to several individuals, published supervisory expectations and best practice papers, and will continue monitoring remediation efforts.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-04•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore imposed S$27.45 million in penalties on nine financial institutions for anti-money laundering and countering the financing of terrorism breaches linked to the August 2023 money laundering case. Penalties were levied on institutions including Credit Suisse Singapore Branch and United Overseas Bank Limited, due to poor implementation of AML/CFT frameworks. MAS issued prohibition orders to individuals and reprimands to senior managers, with potential further actions pending court proceedings.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-07-04•Serbia•National Bank of Serbia
The National Bank of Serbia reported that the IPS NBS system processed 8,794,619 transactions in June 2025, with an average execution time of 1.0 seconds. The system, operating continuously, handled an average of 293,154 payments daily, totaling RSD 113.1 billion in turnover.
Data & statisticsFinancial and market indicators
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2025-07-04•Serbia•National Bank of Serbia
The National Bank of Serbia reported June 2025 operational statistics for its RTGS, Clearing, and Foreign Exchange Clearing Systems, noting 19.0 million payments processed with a total turnover of RSD 15,038.4bn in RTGS. The systems maintained 100% availability with no downtime across 11,685 minutes of production time, and interbank foreign exchange transactions totalled EUR 165.7 million.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-04•Brazil•Brazil Securities Commission (CVM)
The Corporate Relations Superintendency of the Brazil Securities Commission (CVM) identified nine listed companies as delinquent for not submitting required filings for at least three months. The notice informs investors and the public about missing disclosures, including the Standardized Financial Statements, Quarterly Information, and Reference Forms. Companies in judicial recovery, bankruptcy, liquidation, or with suspended registration under CVM Resolution 80 are excluded.
SupervisionAlertsAccounting and financial reporting