The Union of Arab Securities Authorities released a study on due diligence and Know Your Customer requirements for financial institutions, aiming to align regulatory approaches across Arab jurisdictions and address electronic KYC procedures amid rising financial technology use.
The Inter-Governmental Action Group against Money Laundering in West Africa and the African Development Bank will hold the West African Compliance Summit 2025 in Praia, Cabo Verde, from July 28 to 31. The meeting will focus on emerging money laundering and terrorist financing risks, recent Financial Action Task Force standard changes, and readiness for GIABA's third round of mutual evaluations. GIABA expects 196 participants from all member states.
The Inter-Governmental Action Group against Money Laundering in West Africa has published Cabo Verde's sixth enhanced follow-up report. It reviews progress on technical compliance recommendations and gives re-ratings where sufficient progress has been demonstrated since the May 2019 mutual evaluation report.
The Inter Governmental Action Group against Money Laundering in West Africa has published Côte d’Ivoire’s second enhanced follow-up report. It assesses progress on technical compliance recommendations marked for re-rating and provides new ratings where sufficient progress has been shown.
The Inter Governmental Action Group against Money Laundering in West Africa has issued Benin’s fourth enhanced follow-up report, assessing technical compliance progress on 10 AML/CFT recommendations. Benin entered enhanced monitoring after its 2021 mutual evaluation found 11 weak effectiveness results and more than eight recommendations rated non-compliant or partially compliant. Earlier follow-up reports upgraded Recommendations 6, 7 and 34 from partially compliant to largely compliant.
The Inter-Governmental Action Group against Money Laundering in West Africa has launched an expression of interest process for firms to audit the accounts of the PAPEV child protection project implemented by the ECOWAS Centre for Gender Development. Eligible ECOWAS-based audit firms must meet experience and staffing thresholds, including seven financial audits and five similar partner-funded audits over the past 10 years. A shortlist of six to eight firms will be created for 24 months, and applications are due by 4 August 2025.
The Intergovernmental Action Group Against Money Laundering in West Africa has launched a call for country researchers in Côte d'Ivoire, The Gambia, Nigeria and Sierra Leone for a study on trade-based financial crimes. One consultant will be selected per country to assess trade-related money laundering, terrorist financing and proliferation financing risks, vulnerabilities, enforcement challenges and red flags. Applications close on 13 August 2025 at 17:00 GMT.
The Central Bank of San Marino has launched a public consultation on a draft Regulation for independent financial advisors to implement Article 25-bis of Law No. 165/2005, replacing the 2020 framework. The draft aligns with the investment services rulebook and MiFID II, expanding definitions, establishing a public register, and setting requirements for honourability, competence, and independence. It prohibits advisors from holding client assets or receiving third-party fees and mandates professional indemnity insurance and continuing education.
The Central Bank of San Marino's Q1 2025 Bulletin reports a 1.7% rise in system funding to EUR 6.603 billion and a drop in impaired exposures, with a gross NPL ratio of 17.7%. Regulatory updates include Law No. 30/2025, Delegated Decree No. 48/2025 on lending spreads, and BCSM Regulation 2025-01 on calendar provisioning and banking activities. BCSM also prepared a self-assessment questionnaire on professional secrecy for the European Banking Authority, aiding San Marino's EU integration.
The Jordan Securities Commission signed a memorandum of understanding with the Jordanian Economic and Social Council to enhance economic and financial stability, sustainable investment, and transparency through cooperation on training, research, and data-sharing.
The National Bank of the Republic of Tajikistan has licensed the closed joint-stock company micro deposit-taking credit organisation “Innovation Capital” to conduct banking operations in both national and foreign currencies. This is in accordance with the laws governing the National Bank, microfinance organisations, and the licensing system.
Eurosif and several organizations urged EU policymakers to maintain the core of the EU sustainable finance framework in the Omnibus I simplification initiative. The statement emphasizes the importance of sustainability reporting, transition plans, climate targets, and corporate due diligence for achieving the EU’s economic and sustainability goals, highlighting support for preserving key elements of the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive.
The South African Reserve Bank's Prudential Authority issued a Guidance Note under the Banks Act on the internal ratings-based (IRB) approach for credit risk, detailing supervisory expectations for banks using IRB models to calculate capital and reserve funds. It includes guidance on Basel III reforms, removal of the advanced IRB approach for certain asset classes, and clarifications on credit risk mitigation and reporting. The note also addresses modelling of exposures to local government and public sector entities under IRB.
The International Organization of Securities Commissions (IOSCO) released a final report on Digital Engagement Practices (DEPs), proposing good practices for supervising market intermediaries using digital techniques to engage retail investors. The report highlights DEPs' potential benefits in broadening market access and financial literacy, alongside risks of riskier trading and conflicts of interest. It recommends designing DEPs to operate in investors' best interests, ensuring proper licensing, aligning prompts with suitability requirements, and improving disclosures and governance.
The Reserve Bank of New Zealand released its 2025/26 Statement of Performance Expectations, organizing performance measures into four output classes aligned with its objectives, with biannual reviews and reports to the Treasury Te Tai Ohanga against the SPE and the 2024–2028 Statement of Intent.
The Central Bank of Curaçao and Sint Maarten has implemented Curaçao’s statutory Deposit Guarantee Scheme (DGS) as of July 1, 2025, offering automatic protection for depositors if a credit institution fails. Deposits at credit unions are insured up to Cg 25,000, while banks and savings funds are covered up to Cg 50,000 per account holder. A similar scheme is being developed for Sint Maarten in collaboration with its Ministry of Finance.
The Central Bank of the Philippines and the Cooperative Development Authority launched the Credit Surety Fund Spotlight Forum Series to promote credit surety fund success stories and encourage participation in the MSME loan guarantee mechanism. The program enables MSMEs to borrow from banks without traditional collateral, with 46 registered cooperatives nationwide. The first session highlighted the Nueva Vizcaya Credit Surety Fund Cooperative, facilitating over PHP 509 million in loans since 2020.
The New Zealand Financial Markets Authority published its Statement of Performance Expectations for 2025/26, detailing performance measures, targets, and forecast financial statements, complementing its medium-term strategic objectives outlined in the Statement of Intent 2024–2028.
The Italian Institute for Insurance Supervision (IVASS) warned about a counterfeit surety bond falsely linked to Lucura Versicherungs AG, a captive insurer for BASF in Italy. Lucura disclaimed ties to certain emails and an unreachable website. IVASS advised verifying insurers and intermediaries through its online resources before payments.
The Philippine Securities and Exchange Commission has released an exposure draft memorandum circular outlining compliance guidelines for One Person Corporations (OPCs). The draft addresses officer appointments, financial statement submissions, fines for non-compliance, surety bonds, and adherence to SEC Memorandum Circular No. 28 series of 2020.
The Monetary Authority of Singapore is consulting on proposals to enhance Product Highlights Sheet disclosures and streamline distribution safeguards for complex products. Key measures include revised PHS templates with a question and answer format, a red label for complex products, and introducing a Product Knowledge Assessment. The proposals also suggest removing mandatory financial advice for complex products, except for "Selected Clients" who meet specific criteria.
The Monetary Authority of Singapore imposed composition penalties totaling SGD 960,000 on five Major Payment Institutions for breaches of anti-money laundering and countering the financing of terrorism requirements. The enforcement actions, covering April to June 2025, underscore MAS's commitment to deterrence and maintaining Singapore's financial integrity.
The Brazil Securities Commission (CVM) issued a circular letter providing regulatory guidance for copytrade services. It clarifies the definition of copytrade, its classification as a professional securities analysis activity, and the requirements for securities analyst accreditation. It emphasizes transparency on risks and warns that non-compliance may result in CVM sanctions and be deemed irregular market practice.
The Brazil Securities Commission (CVM) released its Q1 2025 Enforcement Activity Report and launched an internal research initiative on ESG information disclosure. Key actions included rejecting settlement agreements with financial entities, initiating proceedings on audit irregularities, and issuing public warnings against alleged irregular activities by various groups. Additional measures involved suspending registrations, updating a jurisprudence tool, and postponing new takeover bid regulations.
The Philippines Insurance Commission has lifted the cease and desist order against The Premier Life and General Assurance Corporation and released the company from conservatorship, effective 30 June 2025.
The Securities and Exchange Commission of the Republic of North Macedonia highlighted its commitment to financial education during a ceremony celebrating the country's second-place finish in the European Money Quiz. The event underscored the regulator's focus on financial literacy as part of its broader market oversight role, with initiatives supported by the National Bank and the Ministry of Education and Science.
The Institutional Investors Group on Climate Change (IIGCC) endorsed a statement urging EU policymakers to preserve the EU sustainability framework's integrity amid proposed changes by the European Commission’s Omnibus I. The statement emphasizes safeguarding double materiality reporting, interoperability with international frameworks, and maintaining robust CSRD and CSDDD standards. It also highlights concerns over proposed thresholds and due diligence obligations that could weaken sustainability reporting and transition plans.
The Network for Greening the Financial System (NGFS) released its 2024 Annual Report, detailing key developments like the Transition Plan Package for supervisors, updates to long-term climate scenarios, and guidance on sustainable investment for central banks. The report also highlights replacing the Blended Finance Initiative with the Task Force on Adaptation, an increase in membership, and upcoming supervisory notes and scenario tools for 2025.
The Philippine SEC has joined the Financial Sector Forum's Protect Your Money Campaign to boost investor protection and financial literacy, focusing on digital platforms to combat financial fraud. The campaign, involving the SEC, Bangko Sentral ng Pilipinas, Insurance Commission, and Philippine Deposit Insurance Corporation, addresses rising online scams. The SEC plans to produce digital content and advocate for the Capital Market Development Act to institutionalize financial literacy in education.
The World Federation of Exchanges published a paper advocating for enhanced oversight and data in private markets, citing risks to market integrity and retail investor protection due to rapid growth. It recommends harmonized transparency standards, regulatory reviews, and supervisory reporting to address systemic risks from leverage, opaque valuations, and secondary trading platforms.
The Prudential Regulation Authority (PRA) summarized its roundtable with UK firms' CFOs on the Future Banking Data project, focusing on regulatory reporting improvements. Key initiatives include consulting on removing underused reporting templates and developing a digital portal for regulatory transactions. The PRA aims to establish a multi-year reporting change programme by the end of 2025, with further consultations and updates planned.
The World Savings and Retail Banking Institute released a joint statement from European Credit Sector Associations endorsing private-sector efforts to interconnect European retail payment solutions. It highlights initiatives by the European Payments Alliance and Initiative as crucial for enhancing interoperability and supporting European sovereignty in retail payments, noting the involvement of Bancomat, Bizum, MB WAY, and Vipps MobilePay.
The Moroccan Capital Markets Authority announced it is hosting the 23rd annual meeting of the Francophone Institute of Financial Regulation.
The Central Bank of Malta's Acting Governor, Alexander Demarco, attended the IMF and World Bank Group constituency meeting in Varese, Italy. The meeting, hosted by Italy's Ministry of Finance and the Bank of Italy, included discussions on disaster risk management, industrial policy, and competitiveness and growth considerations among officials from several countries.
HM Treasury issued a memorandum with the Bank of England, Prudential Regulation Authority, and Financial Conduct Authority to coordinate roles on Overseas Recognition Regimes. The MoU outlines procedures for jurisdiction assessments, designation decisions, and regulatory advice, with designations subject to Parliamentary oversight. It also addresses engagement with overseas authorities and ongoing monitoring of designated jurisdictions.
The Bank of Tanzania's first quarterly Uchumi Wetu magazine details a reduction of the Central Bank Rate (CBR) to 5.75% for July–September 2025 and introduces mandatory self-regulation for tier-2 microfinance institutions, requiring them to join TAMFI or TAMIU for oversight. The central bank retains licensing and policy duties. Additionally, the bank launched the SEMA NA BOT digital consumer complaints system and a fintech regulatory sandbox guide.
The Swedish Financial Supervisory Authority has updated its list of surveys intended for insurance and occupational pension firms.
The National Bank of Hungary has launched the Central Fraud Detection System (CFDS), an AI tool to detect fraudulent bank transfers, as part of the governor’s “five strikes” package against financial cyberfraud. From 1 July 2025, domestic banks must submit instant transfer data to the CFDS and integrate its risk scores into their fraud controls. The package also includes enhanced supervisory expectations, potential legal amendments for bank liability, and a customer information campaign on fraud prevention.
The Central Bank of Russia reported a 6% decline in consumer credit cooperatives (CCCs) to 1,247 in Q1 2025, with 86 removed for legal violations. New procedures for the state register and additional requirements for firms handling maternity capital have enhanced market transparency and reduced unfair practices. Loan issuance continued to decline, with the top 50 CCCs holding 73% of the RUB 45.6 billion total loan portfolio.
The Central Bank of Russia will introduce "social bank account" and "social deposit" agreements for benefit recipients, effective 1 July 2025, via the Public Services Portal. Social deposits offer a one-year term with the highest bank interest rate for similar maturities and a RUB 50,000 cap, while social bank accounts must pay at least half the key rate on balances up to RUB 50,000. Major banks will initially offer these products, with plans to expand participating banks.
The Egypt Financial Regulatory Authority directed the Egyptian Compulsory Insurance Pool for Civil Liability to assist families affected by the Monufia accident in expediting compensation claims, including EGP 100,000 per death. The pool's policy covers deaths and injuries from car accidents, with compensation for injuries based on disability assessments by the medical commission.
The Polish Financial Supervision Commission (KNF) Chair, Jacek Jastrzebski, highlighted discussions on an optimal covered bond issuance model and a specialised issuance vehicle structure during a European Financial Congress. He suggested reviewing mortgage bank requirements and linked the covered bond agenda to the Long-Term Funding Ratio project, aimed at addressing maturity mismatches in Polish banks and supporting financial stability.
The Commodity Futures Trading Commission announced a consent order by the U.S. District Court for the Northern District of Illinois against LJM Partners Ltd, LJM Management Ltd, and key individuals, imposing penalties and registration bans for misleading statements and risk management failures. The order includes USD 4.6 million in disgorgement and USD 700,000 in penalties, with registration bans for Anthony J. Caine and Anish Parvataneni. This follows a CFTC complaint about false statements and significant losses in February 2018.
The Norwegian Financial Supervisory Authority has introduced new requirements under the amended Real Estate Brokerage Act, effective 1 July 2025. Real estate brokerage firms must assess the suitability of settlement assistants and trainee brokers and notify the authority within 14 days of hiring. Notifications must include a police certificate and diploma, submitted via the Altinn form KRT-1157.
The Chile Financial Market Commission (CMF) updated reporting requirements under Law No. 20,009 (Fraud Act), aligning them with Law No. 21,673 on fraud-claim processing. The regulation amends General Rule No. 487, revising deadlines for fraud claim reporting to a quarterly cadence and requiring entities to publish aggregated data on objected wire transfers and card payments. It also repeals previous management letters related to these requirements.
The Chile Financial Market Commission's Financial Report for Q1 2025 reveals insurance sales increased by 9.2% to USD 3,982.9 million, while industry profits fell 22.7% to USD 282.7 million. Life insurance sales rose 14.9%, driven by pension insurance, whereas general insurance sales declined 1.4%. Life insurers' profits dropped 37% due to higher annuity costs, while general insurers' profits rose 28.4% owing to improved margins and lower claims costs.
The Norwegian Financial Supervisory Authority (Finanstilsynet) released an ICT inspection report for OBOS-banken AS, highlighting deficiencies in governance and controls over ICT operations. Issues include inadequate ICT strategy alignment with business objectives, insufficient business impact analysis, and gaps in compliance reporting and change management. OBOS-banken plans to revise its ICT strategy, update its business impact analysis, and enhance compliance and risk reporting.
The State Bank of Vietnam held a roundtable under a SECO-funded project to support the implementation of Decree 94/2025/ND-CP, focusing on sandbox testing in the banking sector. The decree outlines solutions for credit scoring, data sharing via Open APIs, and P2P lending. The central bank plans to review and potentially expand eligible solutions, emphasizing the need for clearer guidance on service scope and participation conditions.
The U.S. SEC’s Division of Corporation Finance issued a staff statement on federal securities law disclosure requirements for crypto asset exchange-traded products (ETPs). It addresses common disclosure issues in ETP filings, focusing on Regulation S-K and S-X requirements, and highlights expectations for tailored risk factor disclosures and detailed business and operational information. It reflects staff views without legal force and invites questions on applying SEC disclosure rules to crypto asset ETP offerings and registrations.
Thailand's Ministry of Finance, in collaboration with the Bank of Thailand and financial institutions, reported ongoing participation in the "You Fight, We Help" programme. Over 1.4 million debtors, representing more than 1.9 million accounts, have registered interest and are awaiting eligibility checks as of 30 June 2025.
The United States Office of the Comptroller of the Currency released Community Reinvestment Act performance evaluations for 22 institutions, with seven rated "outstanding" and 15 "satisfactory." No institutions received ratings of "needs to improve" or "substantial noncompliance." The OCC maintains a searchable database of CRA evaluations and lists institutions scheduled for future examinations.
Acting Comptroller Rodney E. Hood highlighted homeownership as a key to financial inclusion and generational wealth at the Detroit REACh Homebuyers Fair. The Office of the Comptroller of the Currency is working to expand affordable homeownership through Project REACh and its collaboration with NeighborWorks America, aiming to integrate unbanked and underbanked individuals into the banking system.
The Malta Financial Services Authority and the Malta Gaming Authority have signed a Memorandum of Understanding to enhance collaboration on regulatory matters, focusing on information sharing and enforcement. This bilateral agreement complements an existing multi-party MoU on anti-money laundering and related issues, and includes provisions for training and education to improve supervisory skills and institutional competencies.
The Australian Prudential Regulation Authority has implemented Prudential Standard CPS 230 Operational Risk Management, enhancing expectations for banks, insurers, and superannuation funds to ensure continuity of critical services and effective response to disruptions. The standard mandates identification of key business services, testing of business continuity plans, and improved third-party risk management, with smaller entities given an additional year to comply.
The Swiss Federal Department of Finance released the IMF's 2025 Article IV mission statement, praising Switzerland's economic resilience but noting challenges in federal spending and financial stability. The IMF forecasts 1.3% real growth in 2025, supported by private consumption and construction, while highlighting external risks. It calls for stronger financial supervision and crisis management, aligning with the Federal Council's reform proposals.
Sunil Jayawant Kadam has been appointed as Executive Director of the Securities and Exchange Board of India (SEBI) in Mumbai, overseeing several departments including Information Technology and Investor Assistance. Kadam, who joined SEBI in 1996, previously served as Chief General Manager and has extensive experience in market regulation and corporate finance.
SEBI held a Municipal Bond Outreach Programme in Thiruvananthapuram to educate Urban Local Bodies on municipal debt securities and market-based financing for urban development. The event covered bond structuring, regulatory compliance, and credit rating, highlighted by Vadodara Municipal Corporation's launch of "The Green Book – On Climate Finance & Green Municipal Bonds," showcasing Asia's first globally certified green municipal bond.
Danish households significantly increased net purchases of European stocks, exceeding DKK 9 billion from January to May 2025, while being net sellers of American and Danish stocks. Defence stocks, particularly Rheinmetall and Saab, constituted 32% of these European purchases, with Rheinmetall becoming the largest European holding due to price increases. Despite these shifts, American stocks still represented 29% of households' total stock portfolios as of May.
The U.S. Department of the Treasury and the European Commission issued a joint statement on the EU-U.S. Joint Financial Regulatory Forum held in June 2025, highlighting cooperation across seven themes including financial stability, digital finance, and AML/CFT. Discussions involved elevated asset valuations, crypto developments, cross-border payments, and Basel III reforms. The Forum included key EU and U.S. regulatory bodies, with continued engagement planned ahead of the next meeting in late 2025.
Taiwan's Financial Supervisory Commission announced that the Legislative Yuan approved amendments to the Securities Investor and Futures Trader Protection Act, enhancing the institution's ability to sue company directors and supervisors. The amendments allow independent grounds to initiate derivative and discharge suits in cases of securities fraud and other misconduct and expand operational funding sources. The revised provisions apply to ongoing lawsuits not yet finalized.
The Cayman Islands Monetary Authority has extended the filing deadline to 7 July 2025 for funds with a 31 December 2024 financial year-end due to technical disruptions. No penalties will be imposed during this period, and filing options remain available through the REEFS Portal. Funds with financial year-ends after 31 December 2024 must adhere to the standard six-month filing requirement or request an extension with a fee.
The Isle of Man Treasury updated the UK sanctions list under the Russia sanctions regime, amending entries for Yegor Yurievich Karasev, Anatoliy Moiseevich Cherner, and the Main Directorate of Deep-Sea Research of the Ministry of Defence of the Russian Federation. These entries remain subject to an asset freeze and now include trust services sanctions. Institutions must freeze assets of designated persons, avoid unauthorized dealings, and report to the Financial Intelligence Unit. Breaches constitute criminal offences.
The Angola Capital Markets Commission attended an International Conference on Cybercrime, where board chair Elmer Serrão highlighted rising fraud risks in Angola’s financial market via digital channels. Serrão noted Ponzi schemes, fake investment platforms, and unlicensed cryptoassets. The Commission is drafting a Legal Regime for Collaborative Financing to establish clearer rules for crowdfunding platforms and investor protections.
The Central Bank of Nicaragua reported total external debt for Q1 2025 at USD 15,778.9 million, with public-sector debt at 55.1% and private-sector debt at 44.9%. External debt decreased by USD 3.2 million from December 2024, driven by a decline in private external debt and an increase in public external debt. Quarterly disbursements amounted to USD 749.6 million, primarily for electricity, gas, water, and trade sectors.
The Central Bank of the Republic of Kosovo has amended its regulation on the Bonus-Malus system for compulsory motor third-party liability insurance. The changes rectify issues where registration delays resulted in higher premiums for insured individuals without traffic accidents. The revised regulation, approved on 25 June 2025, will be effective from 4 August 2025.
The Hong Kong Mandatory Provident Fund Schemes Authority is addressing the Process Review Panel’s 2024 Annual Report recommendations to enhance the adequacy and consistency of its internal procedures and operational guidelines.
The Egmont Group of Financial Intelligence Units will hold its annual Plenary in Luxembourg from July 6 to 11, 2025, marking its 30th anniversary. The event will focus on international coordination in anti-money laundering and counter-terrorism financing, featuring thematic sessions, operational training, and the Best Egmont Case Award competition.
The Superintendency of Banks of Panama's latest report highlights the National Banking System's solid financial position as of May 2025, supported by strong risk management and liquidity. The International Banking Center's credit portfolio grew by 9.5% year-on-year to USD 98,506 million, with notable increases in agriculture, trade, and personal consumption. The report emphasizes maintaining operational efficiency, income diversification, and asset quality amid potential impacts from recent disruptions.
The Central Bank of Cyprus reported May 2025 statistics showing minimal growth in total deposits, with a net increase of EUR 1 million, bringing the stock to EUR 56.1 billion and reducing the annual growth rate to 5.8%. Lending expanded by EUR 116.8 million, raising the balance to EUR 25.7 billion and increasing the annual growth rate to 5.1%. These figures reflect transactions, excluding reclassifications and exchange-rate effects.
The Saudi Arabia Capital Markets Authority (CMA) approved Abdulaziz Ahmad Altwijri Trading Co’s application to register and offer 1,000,000 shares on the Parallel Market, representing 20% of its share capital, limited to Qualified Investors. The CMA emphasized that its approval confirms compliance with legal requirements and is not an investment recommendation. The approval is valid for six months, contingent on completing the offering and listing within this timeframe.
The Bank of Israel has completed transitioning the ZAHAV system to the ISO 20022 payments messaging standard for real-time shekel-denominated transfers, aligning with international standards to enhance data quality, processing speed, and transaction security. This upgrade aims to foster innovation and transparency, supporting a more open and competitive financial market.
The Bank of Israel reported a 1% increase in the public’s financial assets portfolio, reaching approximately NIS 6.3 trillion in Q1 2025, driven by a rise in corporate bonds and equities. Institutional investors' assets grew by 0.9% to NIS 2.89 trillion, while mutual funds in Israel saw a 3.3% increase to NIS 617.4 billion, bolstered by net new investments in domestic bond, money market, and equity funds.
The European Securities and Markets Authority (ESMA) released a report on the 2023–2024 Common Supervisory Action with National Competent Authorities, evaluating the investment management sector's integration of sustainability risks and disclosures. While overall compliance was satisfactory, the review highlighted the need for improvements under the Sustainable Finance Disclosure Regulation (SFDR). ESMA plans to continue discussions with NCAs and urges proactive engagement with market participants to address identified vulnerabilities.
The Central Bank of the Republic of Kosovo and the Kosovo Intelligence Agency have signed a Memorandum of Cooperation to enhance inter-institutional collaboration. The agreement establishes a framework for secure information exchange to support their constitutional and legal responsibilities, aiming to strengthen security, transparency, and institutional resilience.
Danish Finanstilsynet will phase out certain data submissions for credit institutions, effective Q3 2025, as the information is either redundant or obtainable through other reporting. The final reporting for the affected templates is based on a reference date of 30 June 2025. This includes various reporting forms related to loans, foreign bank branches, financial statements, and risk assessments.
The Danish Financial Supervisory Authority reviewed banks' practices in advising customers on mortgage loan conversions, emphasizing the need for clear communication of risks and financial impacts. The Authority identified seven focus points to ensure homeowners understand potential uncertainties, particularly when interest rates fluctuate. The review was based on materials and responses from selected banks.
SIPEN and the World Bank released a study on the Dominican Pension System, focusing on labour informality's impact. It highlights that prolonged contribution or non-contribution affects workers' status changes, with younger cohorts showing more polarisation. It recommends reviewing eligibility parameters for the guaranteed minimum pension due to potential limitations in ensuring lifetime minimum pensions.
The Central Bank of Kenya has revoked Bank Al-Habib Ltd's authorization to operate a representative office in Kenya, leading to its closure. This decision, effective May 15, 2025, aligns with Bank Al-Habib's strategy to streamline its foreign operations. The office, established in 2018, served as a marketing and liaison hub for the bank and its affiliates.
The Ukraine National Commission on Securities and Stock Market announced efforts to modernize its communication platforms to enhance transparency and financial literacy. The Commission emphasized its website as the main source for decisions, news, and regulatory information, and highlighted its presence on social media and the "Contribution" portal for novice investors.
The Dutch Authority for the Financial Markets issued a sector letter to AIFM-light managers, highlighting non-compliance with legal obligations, including late or incorrect AIFMD reporting and missing essential information documents. The review also found deficiencies in compliance with the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act and the Sanctions Act, as well as errors in investor classification and deregistration processes. The letter offers guidance for aligning with supervisory expectations.
The Dutch Authority for the Financial Markets published research on asset managers' engagement with investee companies in sustainable investment strategies, highlighting challenges in demonstrating effectiveness. The study suggests engagement is resource-intensive but valuable, needing clearer reporting on integration into strategies and methodologies. It emphasizes quality over quantity, recommending focused engagement on select companies and ESG themes, supported by credible escalation and collaboration.
The Central Bank of Ireland's annual pre-budget letter from Governor Gabriel Makhlouf urges resilience against changing geoeconomic relationships by broadening the tax base and addressing infrastructure gaps. It calls for a credible fiscal anchor, rigorous expenditure control, and sustainable spending increases, noting EUR 265bn needed by 2050. The letter supports transfers to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund, emphasizing reforms to improve infrastructure planning and construction productivity.
Indonesia's Financial Services Authority (OJK) has launched the Database Agen Asuransi Indonesia and Database Polis Asuransi Indonesia to centralize data on licensed insurance agents and policy information, enhancing governance and consumer protection. The agent database integrates with the SPRINT platform for digital licensing, while the policy database supports risk-based supervision and transparency through monthly submissions via the Online Reporting Application (APOLO). OJK emphasizes the importance of consistent use by insurance companies, industry associations, and the public for the initiative's success.
The National Bank of Georgia released updated gross external debt statistics, showing a total of USD 25.5 billion (GEL 70.5 billion) as of 31 March 2025, representing 74.2% of GDP. The increase in debt was primarily driven by exchange rate changes, with public sector debt at USD 11.0 billion and banking sector debt at USD 8.6 billion. Notably, 88.6% of the gross external debt was denominated in foreign currency.
The National Bank of Georgia released updated International Investment Position statistics, revealing a net IIP of USD -31.5 billion (GEL -87.0 billion) as of 31 March 2025, equating to -91.7% of GDP. This marks a USD 1.4 billion deterioration from the previous quarter, with international assets at USD 17.2 billion and liabilities increasing to USD 48.7 billion.
Governor Dr. Trajko Slaveski of the National Bank of the Republic of North Macedonia attended the BIS Annual General Meeting, where the BIS's activity and financial reports were adopted. Discussions emphasized central bank policies for crisis mitigation, economic stability, and future trends in digitalization. The National Bank highlighted its full BIS membership and voting rights.
National Bank of Georgia Governor Natia Turnava attended the 24th Annual Bank for International Settlements conference in Basel, focusing on central banks' evolving roles amid digitalisation and economic fragmentation. The event featured discussions on digital finance, liquidity, and policy challenges, with keynotes from European Central Bank President Christine Lagarde and participation from senior central bank leaders, including U.S. Federal Reserve Chair Jerome Powell.
The National Bank of Georgia reported a Q1 2025 current account deficit of USD 660.1 million (GEL 1.9 billion), or 8.5% of GDP, driven by a wider goods trade gap and negative income balance. Goods trade deficit rose 15.1% year-on-year to USD 1.7 billion, while services and current transfers contributed positively. Net foreign direct investment was USD 74.2 million, with statistics compiled under the IMF Balance of Payments Manual, fifth edition.
The National Credit Union Administration issued a notice of prohibition and a consent-based order of prohibition in June 2025, barring two individuals from involvement with any federally insured depository institution. Christian Wright, formerly of Mid American Credit Union, was prohibited following a theft conviction, while Kevin Spratt, formerly of Police & Fire Federal Credit Union, consented to the prohibition to settle claims.
People's Bank of China Governor Pan Gongsheng participated in the Bank for International Settlements governors’ meeting in Basel, discussing the international economic outlook, new payment instruments, and trade policy challenges. He also held bilateral meetings with BIS General Manager Agustín Carstens and several central bank governors.
The Central Bank of the Republic of China published May statistics on China's financial markets, detailing bond issuance of CNY 7.20 trillion and total bond custody of CNY 187.2 trillion. Overseas institutions held CNY 4.4 trillion, primarily in government bonds. Interbank cash bond trading volume reached CNY 30.7 trillion, with significant concentration in interbank corporate credit bonds among the top 50 investors.
ASIC has initiated Federal Court proceedings against Venture 5 Group Pty Ltd, trading as CashnGo Australia, for alleged unconscionable debt recovery practices, unfair contract terms, and non-compliant direct debit notices affecting 67,545 consumers. From April 2022 to May 2025, CashnGo managed 227,148 small credit contracts, impacting 34,833 consumers with unscheduled debits, while reportedly earning 77 million AUD in revenue.
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of Ballast Financial Management Pty Ltd, effective 20 June 2025, under section 915B of the Corporations Act 2001, after the firm ceased operations. Ballast, which held licence number 233180 since 2003, was authorised to provide financial product advice to retail and wholesale clients and may seek a review of ASIC's decision by the Administrative Review Tribunal.
The Australian Securities & Investments Commission (ASIC) has initiated civil penalty proceedings against Delta Power & Energy (Vales Point) Pty Ltd in the Federal Court of Australia. ASIC alleges Delta manipulated the ASX 24 market for electricity futures contracts on 30 occasions between 8 September and 6 October 2022, improperly influencing the daily settlement price, a financial benchmark. The regulator seeks declarations and pecuniary penalties.
The Australian Securities & Investments Commission (ASIC) has updated Regulatory Guides 132 and 136 for managed investment schemes with minor amendments reflecting legislative changes and ASIC relief. These updates, which do not alter legal requirements or add regulatory burdens, include references to the new Australian Standard AS ISO 37301:2023 for compliance management systems and provisions for virtual or hybrid scheme member meetings under the Corporations Act. No external consultation was conducted as the changes are administrative.
The European Banking Authority (EBA) issued technical advice to the European Commission on fees for the EBA's central validation of pro forma models under the European Market Infrastructure Regulation (EMIR). Recommendations include recovering costs through fees, simplifying fee calculations based on OTC derivatives, and detailing payment and invoicing processes. This advice follows feedback from a March 2025 discussion paper and aims to aid the Commission in finalizing the delegated act under Article 11(12a) of EMIR.
The Egmont Group of Financial Intelligence Units said its 30th anniversary plenary will be held in Luxembourg from July 6 to 11, 2025, with more than 550 delegates attending. The meeting will focus on the future of international AML and CFT coordination, with sessions on FIU independence, illicit finance resourcing and the future of the Egmont Secure Web. Workshops, training and the annual Best Egmont Case Award competition will also form part of the program.
Ukraine’s Financial Stability Council approved a Mortgage Lending Development Strategy and updated the Strategy of Ukrainian Financial Sector Development, aligning with commitments to international partners, primarily the IMF. The mortgage strategy includes implementing Directive 2014/17/EU, enabling mortgage insurance against war risks, and introducing European standards for property appraisal. The financial sector strategy updates sector analysis and targets, addressing systemic risks, with the full-scale war and geopolitical uncertainty as key concerns.
The Bank of Lithuania reported a rise in household deposits by EUR 192.4 million (0.7%) and a decline in non-financial corporation deposits by EUR 335.5 million (3.0%) for May 2025. Loans to Lithuanian residents increased by EUR 533.4 million (1.7%), with notable growth in loans to non-financial corporations and households. Interest rates on new household loans remained stable, while rates for non-financial corporations increased.
The Bank of Lithuania released Q1 2025 balance of payments data, showing service exports of EUR 5.6 billion (up 11.7% year on year) and imports of EUR 3.4 billion (up 16.0%), resulting in a services surplus of EUR 2.2 billion. Transport services dominated both exports and imports, with road transport showing the largest surplus and sea freight the largest deficit. Exports to EU Member States rose 8.8%, with Germany as the top export partner, while imports from the EU increased 13.9%, led by Poland.