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2025-06-25•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance is expanding the Just Development Transition Portfolio Fund to include islands with up to 3,100 residents in the North Aegean, South Aegean, and Crete regions. Part of the Just Development Transition Programme 2021–2027, the fund aims to enhance access to finance for island businesses, focusing on green and sustainable entrepreneurship. It provides EUR 70 million in investment and working-capital loans on favourable terms, complementing the "Doing Business Green" state-aid actions.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-06-25•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a state budget cash surplus of EUR 1.875bn for January–May 2025, surpassing the target of a EUR 2.475bn deficit and improving from a EUR 535mn deficit in the same period of 2024. The primary surplus reached EUR 5.343bn, exceeding the target of EUR 1.055bn. Net state budget revenues were EUR 28.969bn, driven by higher tax receipts, while expenditures were EUR 27.094bn, below target due to delayed transfers and reduced armament spending.
Data & statisticsOther
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2025-06-25•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance announced that the upcoming policy package at the Thessaloniki International Fair will focus on growth measures, easing middle-class burdens, and further digitalising tax compliance. Efforts include a digital client registry to curb tax evasion, digital invoices via ERP systems and the AADE web application, collaboration with the Bank of Greece and commercial banks on Swiss-franc borrower costs, and OPEKEPE's integration into AADE by early 2026.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2025-06-25•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance and Cyprus’s Finance Ministry agreed to enhance coordination in bilateral and EU forums, with Greece supporting Cyprus's EU Presidency in 2026. Discussions included geopolitical developments in the Middle East, EU priorities on energy, digitisation, green transition, and Greece's projected 2.3% growth in 2025. Cyprus also engaged in talks on investment, competitiveness, and EU resources, highlighting Greek investment in Cyprus.
Policy & regulationCooperationCross-border cooperation
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2025-06-25•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance has launched a public consultation on a draft bill to modernize the National Customs Code, aligning it with the EU Customs Code. The bill aims to simplify and digitize customs procedures, tighten penalties, and introduce flexible operating hours, while proposing tax and administrative measures to enhance compliance and expand the Independent Authority for Public Revenue's remit. Key tax proposals include integrating the Financial and Economic Crime Unit into the Authority, mandating bank payments for rents, and creating a Property Ownership and Management Registry.
Policy & regulationRules & requirementsTaxation
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2025-06-25•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC's Cryptocurrency Taskforce found illicit activity among high-value crypto ATM users, prompting law enforcement referrals and a national operation involving police contact with 90 individuals, mainly scam victims or money mules. Supported by New South Wales Police and the Australia-New Zealand Crypto Practitioners Working Group, the operation uncovered significant illegal transactions and substantial financial losses from scams. AUSTRAC announced new standards for crypto ATM providers, including a $5,000 cash transaction limit, enhanced due diligence, mandatory scam warnings, and improved monitoring.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-25•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) credit. The list reflects local economic conditions and updates the methodology for identifying underserved areas, consolidating urban influence codes from 12 to 9 categories. CRA consideration for qualifying activities applies for 12 months post-publication, with a one-year lag for areas removed from the 2024 list.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-06-25•Sweden•Riksbank
Riksbank's First Deputy Governor Anna Breman stressed transparency's role in reducing economic uncertainty at a Bank of England conference. She highlighted Riksbank's unique communication tools, like policy rate forecasts, alternative scenarios, and attributed minutes, enhancing accountability and predictability. Breman suggested publishing alternative scenarios may become more important for other central banks amid ongoing economic policy uncertainty.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-06-25•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) and Saudi Arabia’s Capital Market Authority (CMA) met in Hong Kong to enhance regulatory collaboration and market connectivity. Key topics included supervisory collaboration, dual listing of investment products, and recent market developments. The SFC and CMA also co-hosted a roundtable with asset managers to explore cross-border investment opportunities and potential partnerships.
Policy & regulationCooperationCross-border cooperation
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2025-06-25•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission's Annual Report 2024-25 highlights increased fund-raising and trading activity, with advancements in tokenisation and virtual assets, including authorising tokenised money market funds and virtual asset ETFs. Connectivity milestones include southbound inflows through Stock Connect and new Middle East links, while market development efforts have improved listing application timeframes and increased IPO fund-raising. Additional outcomes include a rise in market capitalisation for ETFs and leveraged products, more approved licence applications, and a successful anti-scam campaign.
OtherMarket developmentFinancial and market indicators
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2025-06-25•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) and Austria’s Federal Ministry of the Interior launched "Achtung, Betrug!", a pilot project under the “Sicher Bezahlen” initiative to enhance fraud awareness and digital payment security. The project involved workshops connecting students and older adults to address scams like phishing and credit card fraud, with input from police security officers. OeNB may expand the initiative to other regions after a positive evaluation.
Financial literacy & educationConsumer and investor protection
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2025-06-25•Hong Kong•Hong Kong Monetary Authority
HKMC Annuity Limited, a subsidiary of The Hong Kong Mortgage Corporation Limited, launched a six-month public education campaign, "Panda Mode ON!", to promote retirement financial planning. The campaign features television, outdoor, online, and social media advertising, along with exhibitions and outreach events across Hong Kong. It aims to enhance understanding of the HKMC Annuity Plan and longevity risk management.
Financial literacy & educationFinancial literacy and education
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2025-06-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced the release of The Hong Kong Mortgage Corporation Limited's Annual Report 2024. The report reviews HKMC's business performance, financial position, and environmental, social, and governance initiatives for the year.
Data & statisticsActivity and performance reportingESG
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2025-06-25•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 approved Aslan Talpakov, Alexander Naumov, and Iskander Vakhitov as independent directors on the Board of Directors of JSC Nurbank. The approvals were documented in protocols dated 16 June 2025.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-06-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued its first banking licence since 2010 to JSC BNK Commercial Bank, part of South Korea's BNK Financial Group Inc. This move aims to attract reputable foreign banks and boost competition in Kazakhstan's banking sector. BNK Commercial Bank, reorganized from BNK Finance Kazakhstan LLP, plans a strategy focusing on digital banking, risk management, and regional expansion.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-06-25•Isle of Man•Isle of Man Financial Services Authority
Aurum Insurance Limited has surrendered its authorization as an insurer under section 8 of the Insurance Act 2008, effective 24 June 2025, as announced by the Isle of Man Financial Services Authority.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-06-25•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released findings from a thematic review on compliance with the Financial Services Rule Book 2016, focusing on regulatory registers. The review, involving questionnaires and inspections, highlighted good practices and areas for improvement in managing Conflicts of Interest, Complaints, Breaches, and Pricing Errors.
SupervisionReviews, inspections & stress testsComplianceSupervision process and methodologies
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2025-06-25•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has granted a Financial Services Licence to T Rowe Price Investment Management, Inc. under section 7 of the Financial Services Act 2008. The licence covers class 2 (investment business) sub-classes (3) and (4), and class 3 (services to collective investment schemes) sub-class (6).
SupervisionAuthorisations & approvalsLicence approval
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2025-06-25•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait published the tenth edition of its quarterly report series, "Price Dynamics & Inflation and Macroeconomics Expectations," analyzing inflation trends and expectations, macroeconomic definitions, short-term growth, business cycles, and sustainable long-term growth drivers.
Research
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2025-06-25•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority appointed Franz-Anton Steurer as Executive Board member and Head of Asset Management and Markets, effective 1 July 2025. Steurer, a long-standing employee, has led the division on an interim basis since March and been involved in supervisory roles since 2012. The division oversees asset management companies, investment funds, alternative investment fund managers, and handles notifications and reporting for stock exchange-traded entities.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan, with credit institutions, insurance organisations, and development partners, hosted a financial literacy festival in Tursunzoda under the 2022–2026 National Financial Inclusion Strategy. The event featured educational sessions and a product showcase on Islamic banking, financial fraud prevention, household financial literacy, cashless payments, and insurance system digitisation. Activities included Q&A competitions, an exhibition, and a cultural programme with a prize draw.
Financial literacy & educationMarket development
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2025-06-25•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the Sou Segura Summit 2025, focusing on ESG and inclusion in the insurance market. Superintendent Alessandro Octaviani discussed SUSEP Circular No. 666/2022, emphasizing sustainability and inclusion, while Director Júlia Normande Lins highlighted the need for tailored insurance products and referenced the Working Group's report on the National Policy for Insurance Access.
Policy & regulationGuidance & interpretationESG
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2025-06-25•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) outlined its strategy for implementing Law No. 15.040/2024, focusing on aligning regulations with the new Insurance Contract Law. Director Jessica Bastos emphasized prioritizing reviews requiring significant systems changes and highlighted amending conflicting provisions without exceeding the law's scope. Discussions included artificial intelligence in claims handling, innovative products, complex claims adjustment, transparency, and the role of insurance brokers.
Policy & regulationRules & requirements
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2025-06-25•Iraq•Central Bank of Iraq
The Central Bank of Iraq released an IMF mission statement commending progress in liquidity absorption and foreign trade financing reforms, linking these to enhanced compliance with international transparency standards. The IMF urged further banking sector reforms, including reducing dollarization, enhancing governance, and improving digital infrastructure and anti-money laundering measures.
Policy & regulationReform agendas & prioritiesSupervision process and methodologiesFinancial stability and systemic risk
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2025-06-25•Iraq•Central Bank of Iraq
The Central Bank of Iraq launched the Al-Fursan programme to support entrepreneurs with investment opportunities and soft loans, aiming to enhance the private sector and youth engagement in the national economy. Governor Ali Mohsen Al-Alaq emphasized its alignment with banking reforms and the focus on youth-driven projects.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-06-25•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand released a snapshot on Maori access to capital, highlighting efforts by participating banks to reduce finance barriers and improve data and practices. The initiative, developed with Tawhia the Maori Bankers Ropu, aligns with the Minister of Finance’s 2025 expectations, focusing on competition-enhancing initiatives and reducing lending barriers for Maori freehold land.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-06-25•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten's June 2025 Economic Bulletin stresses the need for economic and fiscal reforms to sustain post-pandemic growth, highlighting labour-market reforms and investment in human capital. It warns of fiscal challenges, including refinancing Dutch state loans and demographic pressures on healthcare systems. The bulletin also addresses trade vulnerabilities due to import reliance and calls for climate resilience through actionable national adaptation plans.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-06-25•Estonia•Ministry of Finance (Estonia)
Estonia’s Ministry of Finance proposed legislative amendments to enhance the anti-money laundering and counter-terrorist financing framework, focusing on the Financial Intelligence Unit's database processing and strategic analysis. The amendments clarify data collection, usage, and processing, particularly for legal-person data, and introduce an annual reporting obligation to the Riigikogu special committee. The package also transposes an EU directive, updating governance and oversight arrangements, including beneficial ownership data accessibility.
Policy & regulationRules & requirementsAML and CFT
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2025-06-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines was named Currency Manager of the Year by Central Banking for its efforts in maintaining a reliable banknote supply and expanding its polymer banknote series. The award recognized the introduction of polymer notes, starting with the PHP 1,000 denomination in 2022, and subsequent agreements with Banque de France and Bundesdruckerei for currency management and production.
OtherCurrency and cash management
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2025-06-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines received Central Banking’s Currency Manager of the Year award for maintaining a quality currency supply, notably through its polymer banknote series. The award acknowledged BSP's cooperation with Banque de France, Germany’s Bundesdruckerei, and Note Printing Australia. Governor Eli M. Remolona, Jr. emphasized the importance of physical cash, while Assistant Governor Mary Anne Lim highlighted international collaborations supporting BSP's currency management.
Other
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2025-06-25•Estonia•Finantsinspektsioon
The Estonian Financial Supervision Authority issued an advisory guideline for credit servicers and purchasers to standardize debt collection practices, prohibiting the collection of time-barred debts and clarifying communication expectations. The guideline aims to harmonize market practices and clarify legislative requirements, with further analysis and potential clarifications planned.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-06-25•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) released its Financial Conduct Report for 2025/26, focusing on reducing regulatory burdens, enhancing supervision of emerging risks, and improving operational resilience. Key initiatives include collaborating with the Reserve Bank on the twin peaks regime, addressing scams, engaging in custody law reform, and intensifying oversight in financial advice, banking, insurance, and capital markets.
Policy & regulationReform agendas & prioritiesDisclosures
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2025-06-25•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released its Financial Conduct Report 2025, outlining supervisory priorities for the next 12 months, including consumer complaint improvements, investment scam disruption, and custody protection enhancements. The report also addresses market development through a single conduct licence, a regulatory sandbox for fintech, and focuses on virtual assets and operational resilience.
SupervisionSupervision approach, priorities & toolkitOther
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2025-06-25•Slovakia•National Bank of Slovakia
The National Bank of Slovakia approved its 2024 Annual Report and June 2025 Macroprudential Commentary, maintaining the countercyclical capital buffer rate. It also reviewed the Summer 2025 Economic and Monetary Developments report and the 2024 consumer protection activities report. These documents will be published on the NBS website.
Policy & regulationRules & requirementsActivity and performance reporting
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2025-06-25•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a VND 1,000,000 fee for a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly to the commission. Failure to complete the procedure within one year of notification will result in certificate cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-06-25•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles' Financial Stability Committee noted increased domestic financial stability risks amid global uncertainties, despite strong banking indicators. A shift towards consumer loans, particularly household borrowing, was observed, alongside potential challenges from upcoming assessments affecting financial stability. The Committee emphasized vigilance and proactive oversight as external risks from global trade tensions and geopolitical issues persist.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-06-25•Europe•European Council
The European Council and European Parliament have agreed on a reformed EU crisis management and deposit insurance framework for banks, enhancing resolution usability for small and medium-sized banks. It allows access to industry-funded financing tools alongside a bank's own loss-absorption resources, with deposit guarantee schemes and resolution funds bridging gaps when a bank lacks sufficient own funds and eligible liabilities. The reform amends key directives and regulations, retaining depositor preference and introducing a harmonised "least cost test" for using deposit guarantee scheme resources.
Policy & regulationRules & requirementsRecovery and resolution
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2025-06-25•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Association of Banks in Singapore have established the Singapore Payments Network (SPaN) to oversee national payment schemes under a single entity. SPaN, a not-for-profit company, aims to enhance governance, foster payments innovation, and promote industry collaboration. An 11-member board will guide SPaN to operational readiness by end-2026, with plans to onboard additional participants and transition existing schemes.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-25•Malaysia•Malaysia Securities Commission
The Advisory Committee on Sustainability Reporting, led by the Securities Commission Malaysia, released a consultation paper on a proposed sustainability assurance framework, including external assurance requirements under the National Sustainability Reporting Framework. The proposals cover international standards adoption, oversight for assurance providers, competency requirements for assurance leaders, and timelines for implementation, aiming to combat greenwashing and bolster investor confidence.
Policy & regulationRules & requirementsAccounting and financial reportingDisclosures
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2025-06-25•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and the Azerbaijan Banks Association hosted Fintech Summit 2025 in Baku, focusing on digital currencies, modern banking products, cybersecurity, and fintech trends. Deputy Chairman Vusal Khalilov emphasized the central bank's initiatives in digital financial ecosystem development and cross-sector cooperation. The summit featured panel discussions on digital transformation, AI, innovation impacts, regulatory roles, and cybersecurity legal frameworks.
OtherFintech and insurtech
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2025-06-25•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile public reception in Mingachevir to enhance consumer and investor rights protection. The event will address requests from residents of Mingachevir and surrounding districts, with submissions accepted through the Central Bank’s hotline and WhatsApp channel.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-06-25•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has revised the rules for secondary trading of Letras de Regulación Monetaria. Any resident individual or legal entity can now buy the instruments in the secondary market from banks and finance companies that acquired them at primary issuance. The central bank also removed a minimum daily holding requirement for certain indirect participants to widen market participation and support yield curve formation.
Policy & regulationRules & requirementsTrading
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2025-06-25•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission released a feedback paper on its consultation regarding equity release and published a final version of the Lending, Credit and Finance Rules and Guidance with amendments. The Commission will start accepting licensing applications for equity release products from 1 January 2026, coinciding with the enactment of related legal amendments.
Policy & regulationRules & requirementsLicence approval
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2025-06-25•Canada•Ontario Securities Commission
The Ontario Securities Commission will provide up to CAD 875,000 over five years to the Osgoode Hall Law School Investor Protection Clinic. This funding supports pro bono legal assistance for Ontarians with investment losses who cannot afford representation, and aids the clinic's operations, including legal advice and investor education programs.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-06-25•Canada•Ontario Securities Commission
The Ontario Securities Commission has committed up to CAD 5.4 million over three years to Prosper Canada for investor education and financial coaching services. The initiative targets Ontarians with low and moderate incomes and includes collaboration with Indigenous community partners to create tailored financial resources.
Financial literacy & educationFinancial literacy and education
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2025-06-25•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro reported on Governor Irena Radovic’s meeting with Crnogorska Komercijalna Banka (CKB) leadership, discussing strategic plans and alignment with EU regulations, including payment services digitisation. CKB aims to enhance services and support SMEs, focusing on joining SEPA and preparing for a national instant payments system using TIPS technology. The bank is noted as stable and systemically important, with ongoing cooperation with the central bank and OTP Group.
Policy & regulationCooperationSupervision process and methodologies
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2025-06-25•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has finalized its policy on fees and levies for the 2025/26 fee year, introducing a Future Banking Data fee and setting the minimum periodic fee to GBP 0 for non-directive insurers and small and medium-sized credit unions. The Total Funding Requirement is GBP 350.2 million, with an Annual Funding Requirement of GBP 336.4 million, primarily for deposit takers, general insurers, and life insurers. The PRA Fees Amendment Instrument 2025 will be effective from 2 July 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-25•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges holders of 14 Energy Absolute Public Company Limited bond series to review information and exercise their rights at the rescheduled bondholders’ meeting on 27 June 2025. The agenda includes exemptions for joint vote counting, non-compliance with meeting notice terms, and a proposed seven-year maturity extension with interest rate adjustments. Bondholders’ representatives must analyze the implications of the restructuring proposal.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-25•Malta•Central Bank of Malta
The Central Bank of Malta hosted a delegation from the Republic of Kosovo, focusing on anti-money laundering and countering the financing of terrorism best practices. Presentations covered payments policy, compliance, and the Bank's collaboration with other regulatory bodies in AML/CFT and financial stability.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-06-25•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has released updated 2024 disclosures under Article 57 of the Investment Firms Directive (EU) 2019/2034. The update details Swedish laws, regulations, and guidance, national options and discretions, supervisory review criteria, and aggregated statistical data on the directive's implementation.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-06-25•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has appointed Leonard Weber Landgren as the new head of its Insurance business area, effective 15 July. He will also join the authority’s executive management team. Weber Landgren has been with the authority since 2014, most recently serving as head of the Insurance Law department.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Capital Markets Subcommittee held a hearing to assess the Sarbanes-Oxley Act's implementation, focusing on Section 404(b) auditor attestation requirements. Subcommittee Chair Ann Wagner highlighted concerns over high compliance costs for smaller firms, questioning the proportionality of benefits given persistent internal control weaknesses. The hearing aims to gather testimony on the real-world impacts of Sarbanes-Oxley compliance.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-06-25•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that Nanoquix is not registered to deal in or advise on securities in New Brunswick. Nanoquix is located in St Vincent and the Grenadines, with an online presence on various social media platforms. The Commission emphasized the importance of registration for investor protection and recommended using the National Registration Search tool for verification.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-06-25•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper proposing revisions to its supervisory tools for assessing banks' economic situations, aiming to improve risk ranking accuracy. This approach will support dialogue with banks' senior management and inform differentiated insurance contribution rates to the Compulsory Deposit Insurance Fund. Implementation is planned for 2027–2028, following the regulatory framework development from 2025–2027.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-06-25•Russia•Central Bank of Russia
The Central Bank of Russia has proposed amendments to a draft law in the State Duma, setting phased deadlines for the adoption of digital ruble payments by banks and merchants based on size. The largest banks must enable digital ruble transactions by 1 September 2026, with further stages extending to 1 September 2028. The digital ruble will circulate alongside cash and non-cash rubles, with transactions remaining fee-free for Russian citizens.
Policy & regulationRules & requirementsCBDC
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2025-06-25•Russia•Central Bank of Russia
The Bank of Russia's latest Russian Journal of Money and Finance explores banking-sector competition's impact on monetary policy transmission, introduces a new RUONIA forecasting method, and presents a regional macroeconomic model for the Southern macroregion. The issue also examines Russian banks' market power and international applications of behavioural economics to improve financial decision-making.
Research
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2025-06-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is using digitisation and fintech regulation to improve access to non-banking financial services, focusing on electronic onboarding and digital contracting. Achievements include growth in gold investment fund accounts, capital market investors, and listed-market capitalisation. The Authority is developing regulations for digital platforms in real estate investment funds and a new close-out netting law for exchange-traded derivatives.
Policy & regulationRules & requirementsFintech and insurtechFinancial inclusion
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2025-06-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved seven entities, including five banks and two securities firms, to regularise their status for inclusion in the FRA register for secondary market dealings in government securities. This decision, under FRA Board Decision No. 232 of 2024 and FRA Chairman Decision No. 394 of 2025, allows these entities to engage in government debt instruments trading.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-25•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) consideration. Based on local economic conditions, it identifies areas where revitalization or stabilization activities may qualify as community development activities. The agencies also updated the methodology for identifying underserved tracts, consolidating urban influence code categories from 12 to 9.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•Global•International Monetary Fund
The International Monetary Fund finds that interoperability helped India’s Unified Payments Interface increase digital payment adoption, user choice and provider competition. Districts with larger interoperability gains recorded an additional INR 8 per person per month in peer-to-merchant payments during the first year after integration. Policymakers should support enabling infrastructure and monitor dominant apps to preserve an open system.
ResearchPayments and payment systemsCompetition and market structureDigital identity
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2025-06-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets (CNPF) identified an abusive clause in BC “COMERȚBANK” SA's floating-rate term deposit contract, allowing unilateral interest-rate changes, and will seek a court declaration of nullity. The CNPF also approved a regulation for voluntary pension fund transfers and authorised several corporate restructuring actions, including share deregistrations and capital adjustments.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-06-25•United States•Federal Reserve Board
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) credit. Reflecting local economic conditions, the list allows CRA consideration for revitalization or stabilization activities for 12 months. The agencies updated the methodology for designating underserved areas, consolidating urban influence codes from 12 to 9 categories.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) released its annual Enforcement Report detailing last year's enforcement activities, including complaint intake, investigations, and proceedings against dealers and approved persons for rule breaches. CIRO reviewed 4,127 complaints, conducted 176 investigations with 34% referred for prosecution, completed 57 proceedings, and imposed CAD 10.3 million in fines and costs. Updates include transitioning mutual fund dealer event reporting to ComSet and launching a new E-Discovery and Evidence team.
EnforcementEnforcement statistics
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2025-06-25•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter allowing MIAX Futures Exchange, LLC to temporarily trade Minneapolis Hard Red Spring Wheat options on futures exclusively through block trades, under specified conditions. This relief enables market participants, including non-Eligible Contract Participants, to manage open positions due to the lack of an electronic trading system. The no-action position is effective from June 29 to August 29, 2025.
EnforcementInvestigations & enforcement actionsTrading
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority reviewed compliance with sustainability-related disclosure rules among investment firms and fund managers, finding widespread misunderstandings and misinterpretations. Issues include unclear disclosures, incorrect exemptions, misleading marketing practices, and confusion between sustainability risk and adverse impacts. The authority offers guidance to clarify disclosure requirements.
SupervisionReviews, inspections & stress testsDisclosures
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) published an inspection report on DNB Bank ASA, identifying ongoing weaknesses in anti-money laundering and counter-terrorist financing compliance despite improvements since 2020. Key issues include deficiencies in risk assessment, customer due diligence, transaction monitoring, and internal controls. DNB must implement an action plan and report progress. Finanstilsynet will monitor execution and has requested the bank to share the report with its auditor.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority reported deficiencies in Nordea Bank Abp's Norway branch regarding clarity and transparency for retail clients using its "Nora" robo-adviser. The report criticized fund recommendations, cost disclosures, and sustainability preference information. Nordea has made changes, updating website disclosures and cost statements.
SupervisionReviews, inspections & stress testsDisclosures
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on the AIIB Board of Governors' meeting in Beijing, where Zou Jiayi was elected AIIB President for 2026-2031. Her priorities include multilateralism, infrastructure finance, and regional cooperation, aiming to increase AIIB lending from USD 10 billion to USD 15 billion by 2030. The Vietnamese delegation also discussed potential investments and regional projects with AIIB leaders.
Institutional developmentLeadership change & appointmentsOther
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted the International Monetary Fund's Article IV mission, discussing macroeconomic conditions and policy recommendations amid global uncertainty. Both parties agreed to enhance cooperation through expert exchanges and technical assistance. The IMF noted Vietnam's strong growth and controlled inflation, recommending a focus on macroeconomic stability, structural reforms, and financial-system strengthening.
Policy & regulationCooperationCross-border cooperation
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported on the 2025–2030 congress of the Party cell of the Standing Agency of the Vietnam Banks Association, chaired by SBV Deputy Governor Pham Tien Dung. The congress reviewed past performance, introduced new leadership, and highlighted initiatives like establishing a Consumer Finance Club and a Debt Resolution Club. The Deputy Governor urged the new leadership to finalise regulations and engage in policy commentary, particularly on emerging banking sector issues.
Institutional developmentGovernanceLeadership change and appointments
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's action plan aims to reduce administrative burdens and reform inspections, cutting at least 30% of processing time and compliance costs by 2025, with further reductions later, emphasizing digital transformation. It also proposes a 2% annual interest rate subsidy for private sector financing of green and circular projects.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-25•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission’s Office of the Investor Advocate submitted a report to Congress outlining its objectives for fiscal year 2026, focusing on retail investor risks and enhancing investor information. Key priorities include research on retail disclosures, addressing financial fraud concerns, and examining private market investments in retirement accounts and China-based variable interest entities on U.S. exchanges.
Policy & regulationReform agendas & prioritiesDisclosures
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2025-06-25•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has extended the compliance date to 30 June 2026 for amendments to Rule 15c3-3, requiring certain broker-dealers to shift from weekly to daily reserve computations. This extension allows additional time for necessary system changes and testing to prevent operational challenges.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-06-25•Thailand•Bank of Thailand
The Bank of Thailand's Board approved senior management changes effective 1 October 2025, including appointing Ms Suwannee Jatsadasak as Deputy Governor for Corporate Development. Mr Somchai Lertlarpwasin will rotate to Assistant Governor, Supervision Group, while Ms Wipawin Promboon and Mr Chiranuwat Tanyacharoen will be promoted to Assistant Governor roles in their respective groups.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) consideration. This list, reflecting local economic conditions, allows certain bank activities in these areas to qualify as community development. The agencies also revised the methodology for designating underserved tracts, consolidating urban influence codes from 12 to nine categories.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency approved a proposed rulemaking to adjust the enhanced supplementary leverage ratio (eSLR) for the largest banking organizations, making it a backstop rather than a primary constraint. The proposal reduces the tier 1 capital requirement for subsidiaries of global systemically important bank holding companies (GSIBs) and sets the eSLR based on risk profiles, ranging from 3.5% to 4.25%. This shift supports low-risk activities and the functioning of U.S. Treasury markets without materially changing overall capital levels.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-25•Argentina•Argentina Securities Commission (CNV)
At the AML 2025 Conference, Argentina Securities Commission (CNV) President Roberto E. Silva highlighted the CNV's innovative regulatory framework for virtual asset service providers. Silva emphasized balancing compliance with Law No. 27.739, avoiding overregulation, and supporting innovation. The conference included discussions on compliance, financial regulation, and emerging risks with domestic and international stakeholders.
Policy & regulationOtherAML and CFT
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2025-06-25•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
FINMA announced amendments to the sanctions list for Guatemala, updated by Switzerland’s Federal Department of Economic Affairs. Financial intermediaries must implement prohibitions, freeze assets, report to SECO, and conduct checks under the Anti-Money Laundering Act. The update is in the SESAM sanctions database and effective immediately.
Policy & regulationRules & requirementsSanctions list update
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2025-06-25•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) will adjust its Board of Directors' composition following Rene W. Keller's resignation, effective 30 June 2025. From 1 July 2025, the board will consist of eight members for the 2024–2027 term, with Marlene Amstad as Chair. The board is responsible for setting strategic objectives, deciding significant matters, issuing circulars, and appointing the CEO, subject to Federal Council approval.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•Switzerland•Federal Department of Finance (Switzerland)
Rene W. Keller will resign from the Board of Directors of the Swiss Financial Market Supervisory Authority (FINMA) effective 30 June 2025, due to a planned career change. Keller has been a board member since February 2024. The Federal Department of Finance will address his replacement later.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•Financial Crimes Enforcement Network
The US Financial Crimes Enforcement Network (FinCEN) has identified CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns linked to illicit opioid trafficking, prohibiting certain fund transfers. These actions, under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, complement recent US designations of major Mexico-based cartels as Foreign Terrorist Organizations. The orders prohibit covered financial institutions from transmitting funds to or from these entities, including convertible virtual currency accounts.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-25•Moldova•National Bank of Moldova
The National Bank of Moldova's Q1 2025 Financial Stability Assessment Report shows the banking sector's resilience, with no systemic vulnerabilities detected. The financial stress index and banking-sector vulnerability indicator are below critical thresholds. Credit risk, especially in real estate lending, is the main concern. Rising residential real estate prices in Chișinău and increased exposures to non-bank financial institutions are noted, but liquidity buffers are robust except in extreme scenarios.
ResearchFinancial stability and systemic riskPrudential risksLiquidity risk
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2025-06-25•Moldova•National Bank of Moldova
The National Bank of Moldova completed the second stage of the 2025 Financial Sector Assessment Program (FSAP 2025) with the International Monetary Fund and the World Bank. Conducted from April to May 2025, the diagnostic mission evaluated banking, capital markets, insurance, and non-bank lending, focusing on macrofinancial risk, crisis management, and financial inclusion. FSAP 2025 consists of three stages, with the final stage set to present findings to national authorities.
SupervisionReviews, inspections & stress testsSupervision process and methodologiesMacroprudential policy and tools
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2025-06-25•United Arab Emirates•General Pension and Social Security Authority
The General Pension and Social Security Authority’s board reviewed first-half 2025 performance, approving the 2024 final accounts and 2026 budget. Insured Emiratis rose 16% to 166,411, and registered employers increased 47.6% to 27,235. The board emphasized digital transformation, investment diversification, and initiatives like Emiratisation.
Institutional developmentGovernanceOther
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2025-06-25•United States•U.S. Department of the Treasury
The U.S. Treasury's FinCEN has designated CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns linked to opioid trafficking. These actions, under the Fentanyl Sanctions Act and FEND Off Fentanyl Act, prohibit U.S. financial institutions from transacting with these Mexico-based entities. The orders cite anti-money laundering and counter-financing of terrorism control failings and connections to Mexico-based cartels and precursor chemical procurement from China.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-25•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority released a paper analyzing how European Economic Area insurers invest in mutual funds with large outflows. The study reveals insurers act as contrarian traders, buying when others sell, helping mitigate liquidity stress in open-ended funds. It also highlights that insurers' financial health influences their ability to stabilize these funds, with better-capitalized insurers more likely to provide support.
ResearchLiquidity riskFinancial stability and systemic risk
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2025-06-25•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago's Ministry of Finance appointed Larry Howai as Governor of the Central Bank of Trinidad and Tobago, replacing Dr. Alvin Hilaire. The appointment follows a Cabinet request to the President to revoke Hilaire's appointment. Further details are expected to be released soon.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE suspended new customer onboarding in a bank's Islamic window for six months and fined it 3,502,214 AED under Article 137 of Decretal Federal Law No. (14) of 2018. This enforcement action followed Sharia supervision examinations revealing non-compliance with CBUAE instructions and Sharia governance provisions. The measures align with the CBUAE's mandate to ensure compliance with UAE laws and standards.
EnforcementSanctions & designationsCompliance
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2025-06-25•Barbados•Central Bank of Barbados
The Central Bank of Barbados released FAQs for the 3.0% Government of Barbados USD Denominated Domestic Bond 2026, detailing eligibility, subscription, settlement, and tax compliance. Subscriptions require payment from a foreign-currency account, with a minimum investment of USD 500. Interest is paid semi-annually in foreign currency, and non-residents are exempt from withholding tax upon confirmation by the Barbados Revenue Authority.
Policy & regulationGuidance & interpretationOther
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2025-06-24•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's Q1 2025 report highlights significant growth in transaction volumes and values across the country's payment systems compared to Q1 2024. Key findings include a 57.3% increase in transaction volume and an 18.4% rise in value, with electronic funds transfers and debit cards being the most utilized payment instruments. Cash circulation increased by 9.7%, while non-presential channels saw substantial growth in both value and volume.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority approved Alinma Capital's public offer of the Alinma Nomu Market Equity Fund, confirming compliance with the Capital Market Law and its Implementing Regulations. The CMA stressed that this approval is not a subscription recommendation and advised investors to review the fund's terms, strategy, and risks thoroughly.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-24•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro, in collaboration with the World Bank, conducted a workshop on enhancing financial literacy through digital communication for institutions involved in Montenegro's 2023–2027 financial education programme. The event, part of the Payment Systems Modernisation Project, focused on digital content creation, audience targeting, and campaign impact measurement, with contributions from the World Bank and Banca d’Italia.
Financial literacy & educationFinancial literacy and education
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2025-06-24•Australia•Australian Securities & Investments Commission
ASIC has updated its guidance for financial services licensees to mitigate share sale fraud risks amid rising identity theft incidents. The revised Information Sheet 237 outlines fraud methods and prevention practices, emphasizing independent verification of onboarding materials, monitoring unusual trading activities, and conducting due diligence on client detail changes. ASIC recommends using Digital ID Act 2024-accredited services and enhancing account security with multi-factor authentication.
Policy & regulationGuidance & interpretationFraud and scams
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2025-06-24•Australia•Australian Securities & Investments Commission
ASIC has released Consultation Paper 384 to regulate employee redundancy funds under the Corporations Act 2001, as ASIC’s transitional relief expires on 1 April 2026. The paper proposes three options: full compliance, targeted relief, or remaking existing relief with conditions. It also considers redefining “employee redundancy funds” and notes sector growth from AUD 500 million in 2003 to AUD 2 billion in 2015.
Policy & regulationRules & requirementsOther
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2025-06-24•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) released a guide detailing criteria and procedures for identifying beneficial owners in the insurance and pension funds sector.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-06-24•Ghana•Ghana National Insurance Commission
Dr. Abiba Zakariah, Acting Commissioner of Ghana's National Insurance Commission, urged insurers to create accessible products for all demographics, especially the informal sector, at the new Insurance House inauguration in Accra. She emphasized broader insurance inclusion for financial protection and sector resilience. The facility, a landmark project according to the Ghana Insurers Association’s President, aims to drive practical sector transformation.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-06-24•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has released a FAQ document to assist Authorised Firms and Registered Auditors in preparing for the revised Client Assets regime effective 1 January 2026. The changes aim to enhance protections for Client Money, Client Investments, and Client Crypto Tokens in the Dubai International Financial Centre. Key updates include clarifications on requirements for firms controlling but not holding Client Assets and a new mandate for certain firms to maintain a Client Asset Crisis Preparedness Pack.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-06-24•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has launched two public consultations following the review of the European Market Infrastructure Regulation (EMIR 3). The consultations focus on transparency regarding clearing service costs and margin-related disclosures and tools. They address information disclosure requirements for clearing service providers and central counterparties.
Policy & regulationRules & requirementsMarket infrastructureDisclosures
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2025-06-24•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market (NSSMC) adopted decisions on rule-making, registration, and supervision, including amendments to 2023 decisions and a draft resolution for supervisory boards of state enterprises. The NSSMC approved registration and licensing actions, such as amendments to Martin LLC’s bond placements and share issue registrations for several JSCs. It also issued investor alerts on dubious projects and refused BENEFIT BROK LLC’s financial improvement plan.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-24•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has implemented new requirements for financial statement disclosure and submission in XBRL for capital market and organised commodity market participants, effective immediately. From 2026, exclusive XBRL filing via the Collection Center will be mandatory, with submissions treated as filed with the Commission. The requirements include using the UA IFRS XBRL taxonomy and may be supplemented.
Policy & regulationRules & requirementsRegulatory reporting