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  • 2025-06-24NetherlandsDe Nederlandsche Bank

    De Nederlandsche Bank reports Dutch current account surplus at 9.9% of GDP in Q1 2025 and revises 2023-2024 figures lower

    De Nederlandsche Bank published balance of payments statistics showing the Netherlands' current account balance at 9.9% of GDP in Q1 2025, unchanged from the previous year. Goods exports rose by EUR 8.4 billion, while imports increased by EUR 4.4 billion, resulting in a EUR 4.0 billion increase in the goods balance. DNB revised previous years' figures, adjusting the 2024 current account balance to 9.1% of GDP and the 2023 figure to 9.4%, mainly due to trade adjustments.

    Data & statisticsBalance of payments and other external statistics
  • 2025-06-24NetherlandsDutch Authority for the Financial Markets

    Dutch Authority for the Financial Markets warns financial service providers to tighten controls amid increasing signals of mortgage fraud

    The Dutch Authority for the Financial Markets has issued a warning about increasing signals of mortgage fraud, urging financial service providers to remain vigilant and scrutinize client documentation. The AFM highlights the role of providers as gatekeepers against fraud, which includes document forgery and misrepresentation. Consequences may include termination of agreements, contract dissolution, and supervisory measures affecting licenses.

    SupervisionAlertsFraud and scams
  • 2025-06-24MoroccoMoroccan Insurance Authority (ACAPS)

    Moroccan Insurance Authority ACAPS holds journalist master class on mandatory construction all risks and decennial liability insurance

    The Moroccan Insurance Authority (ACAPS) conducted a master class in Casablanca for journalists on compulsory "All Risks Construction" and "Decennial Civil Liability" insurance. The session aimed to outline the applicable framework, practical implementation, and foster dialogue with the Authority. ACAPS emphasized these policies as mechanisms to enhance protection in construction projects and compliance with regulations.

    Financial literacy & educationOther
  • 2025-06-24GeorgiaNational Bank of Georgia

    National Bank of Georgia hosts IMF CCAMTAC steering committee meeting to review activities and agree the coming-year work program

    The National Bank of Georgia and the Ministry of Finance hosted the IMF’s CCAMTAC Steering Committee meeting to review recent activities and discuss the upcoming work program. Discussions included regional workshops, financial resources, and initiatives, with contributions from IMF representatives and National Bank of Georgia officials. Key topics were fiscal risk management, banking supervision, and launching an educational platform for regional knowledge exchange.

    Policy & regulationCooperationCross-border cooperation
  • 2025-06-24PakistanSecurites & Exchange Commission of Pakistan

    Pakistan’s Securities and Exchange Commission and FPCCI run Lahore seminar to promote corporatization and regulatory compliance

    The Securities and Exchange Commission of Pakistan (SECP) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) held a seminar in Lahore to promote corporatization and regulatory compliance. SECP Commissioners discussed initiatives like BISP micro-insurance and digital micro-policies, emphasizing their role in protecting millions. The event included interactive sessions on the benefits of incorporation with business community members.

    Policy & regulationGuidance & interpretationMarket development
  • 2025-06-24ChinaCentral Bank of the Republic of China

    People's Bank of China and five agencies issue guidance to boost consumption finance and create a CNY 500 billion relending facility for service consumption and elderly care

    The People's Bank of China and national agencies issued guidance to boost consumption via financial policy, detailing 19 measures, including a CNY 500 billion relending facility for service consumption and elderly care. The guidance promotes credit support for trade-in programs, expanded funding channels, and enhanced payment services, emphasizing consumer protection and credit information sharing. The People's Bank of China will collaborate with other agencies to expedite implementation and monitor progress.

    Policy & regulationGuidance & interpretationConsumer and investor protection
  • 2025-06-24United StatesFederal Reserve Bank of New York

    Federal Reserve Bank of New York case study finds managers of affordable multifamily housing funds plan to increase new-development allocations to 24%

    The Federal Reserve Bank of New York released a case study on private investment vehicles in affordable multifamily rental housing, highlighting a planned increase in capital allocation to new developments from 7% to 24% between October 2024 and September 2026. Investment managers reported 293,735 affordable housing units in their portfolios, with significant contributions from banks and pension funds. Annual fundraising rose to USD 5.2 billion, up from USD 3.7 billion, with half of investments targeting households earning less than 60% of area median income.

    ResearchOther
  • 2025-06-24NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance sets 1 August 2025 commencement for securitisation and cross-border euro payment law changes

    Norway's Ministry of Finance announced that amendments to the Financial Institutions Act and the Financial Contracts Act will take effect on 1 August 2025. These changes implement EU securitisation rules and address cross-border payments under the Euro Regulation, aligning with the EEA Agreement timeline.

    Policy & regulationRules & requirementsSecuritization
  • 2025-06-24NorwayDepartment of Finance (Norway)

    Norway's Department of Finance sets out July 2025 rule changes including DORA and MiCA implementation and a higher IRB mortgage risk weight floor

    Norway's Department of Finance announced regulatory changes effective mainly from 1 July 2025, including implementing the Digital Operational Resilience Act (DORA) and a new crypto-assets law aligned with the EU's Markets in Crypto-Assets Regulation (MiCA). Key measures include raising average mortgage risk weights in internal ratings-based banks from 20% to 25% and amending the Real Estate Brokerage Act to ban secret bids. Additional updates involve extending the Accountants Act, clarifying the Anti-Money Laundering Act's applicability to law firms, and introducing various tax adjustments.

    Policy & regulationRules & requirementsTax transparency and information exchange
  • 2025-06-24NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance adopts implementing rules for the DORA digital operational resilience regime effective 1 July

    Norway's Ministry of Finance has issued regulations to implement the Digital Operational Resilience Act (DORA Act) for the financial sector, effective 1 July. Based on a draft by the Financial Supervisory Authority of Norway, these regulations ensure technical provisions align with the Act's commencement. Finanstilsynet will assess by mid-October if further regulations are needed, considering Norges Bank's proposal on responsibility division for threat-led penetration testing.

    Policy & regulationRules & requirementsOperational risk and resilience
  • 2025-06-24GreeceMinistry of National Economy and Finance (Greece)

    Greece's Ministry of National Economy and Finance discusses UniCredit’s increased stake in Alpha Bank with bank CEOs

    Greece's Ministry of National Economy and Finance announced discussions between Minister Kyriakos Pierrakakis, UniCredit CEO Andrea Orcel, and Alpha Bank CEO Vassilis Psaltis regarding UniCredit's increased shareholding in Alpha Bank. The transaction is viewed as a strategically important cross-border partnership, signaling confidence in Greece's banking sector recovery and supporting European financial integration.

    Policy & regulationCooperationMarket development
  • 2025-06-24GreeceMinistry of National Economy and Finance (Greece)

    Greece's Ministry of National Economy and Finance announces EUR 1 million-plus systems investment for the Authority for Combating Money Laundering from Criminal Activities and highlights stolen cryptoasset freeze

    Greece's Ministry of National Economy and Finance detailed Minister Kyriakos Pierrakakis's visit to the Authority for Combating Money Laundering, highlighting enforcement actions like freezing cryptocurrency linked to a major theft. The Authority reported EUR 700 million in criminal proceeds for 2024, with significant asset-freezing orders and sanctions work related to Ukraine. The ministry announced over EUR 1 million in IT investments to enhance the Authority's systems and autonomy.

    EnforcementInvestigations & enforcement actionsAML and CFTSupervision process and methodologies
  • 2025-06-24LaosBank of the Lao

    Bank of the Lao PDR hosts Lao-French Bank leadership for talks on financing to government priority sectors

    The Bank of the Lao PDR hosted a courtesy visit from Lao-French Bank Limited's management, led by Regis Barriac of the BRED banking group, to discuss business operations and funding support for government-prioritized enterprises. Deputy Governor Sulisak Thamnouvong received an overview of the bank's contributions to Laos' economic infrastructure and expressed support for enhanced cooperation.

    Policy & regulationCooperationOther
  • 2025-06-24United KingdomFinancial Conduct Authority

    Financial Conduct Authority publishes discussion paper on mortgage rule reforms for first-time buyers and later-life borrowers

    The Financial Conduct Authority (FCA) released a discussion paper on the mortgage market, focusing on enhancing access to sustainable home ownership for diverse borrowers. It examines updates to responsible lending rules, consumer understanding flexibility, and innovation support, addressing changing borrower profiles and lender conduct standards. The FCA highlights collaboration with firms on affordability-check flexibility and recent consultations on easing mortgage changes.

    Policy & regulationReform agendas & prioritiesLending
  • 2025-06-24BelizeCentral Bank of Belize

    Central Bank of Belize successfully launches APSSS 2.0 upgrade incorporating SWIFT ISO 20022 messaging

    The Central Bank of Belize launched APSSS 2.0, an upgraded Automated Payments and Securities Settlement System, to modernize the National Payment System and support monetary policy and capital market development. Developed with the Government of Belize and domestic financial institutions, APSSS 2.0 aims to improve payment processing efficiency, enhance security, and adopt the SWIFT ISO 20022 messaging standard for standardized transaction data.

    Policy & regulationImplementation, projects & pilotsMarket infrastructurePayments and payment systems
  • 2025-06-24FinlandBank of Finland

    Bank of Finland publishes Responsible Investment 2024 report with first-time disclosure of its share of Eurosystem bond programme climate indicators

    The Bank of Finland released its Annual Report on Responsible Investment 2024, detailing its management of investment assets and climate impact reporting. For the first time, it discloses the Bank's share of climate indicators from the Eurosystem’s monetary policy programmes. The Bank aims for carbon neutrality by 2050, with interim targets and adherence to the Task Force on Climate-Related Financial Disclosures recommendations.

    ResearchClimate risk and sustainable finance
  • 2025-06-24United StatesFederal Housing Finance Agency

    Federal Housing Finance Agency reports April house prices fell 0.4% month on month and rose 3.0% year on year in the FHFA House Price Index

    The Federal Housing Finance Agency's monthly House Price Index revealed a 0.4% decline in U.S. house prices for April, with a 3.0% increase compared to April 2024. Regional monthly changes varied, with the West South Central and South Atlantic divisions experiencing declines of 1.3%, while the Middle Atlantic division saw a 1.2% increase. All divisions reported positive 12-month price changes, led by the Middle Atlantic division at 7.4%.

    Data & statistics
  • 2025-06-24PeruSuperintendencia de Banca, Seguros y AFP del Peru

    Peru's Superintendency of Banking, Insurance and Pension Funds moves to implement an IMF-supported financial-sector cybersecurity strategy

    Peru's SBS convened officials to review an IMF proposal for a financial-sector cybersecurity strategy, supported by IMF technical assistance. The strategy aims to coordinate cybersecurity initiatives amid rising digital services and cyber threats. IMF experts are conducting a training workshop on technology trends, cyber-risk regulation, and supervisory approaches, concluding with a cyber crisis simulation exercise.

    Policy & regulationImplementation, projects & pilotsCyber resilience
  • 2025-06-24AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority issues letter to RSE licensees on expenditure outcomes and members’ best financial interests

    The Australian Prudential Regulation Authority issued a letter to Registrable Superannuation Entity licensees highlighting initial observations, best practices, and areas for improvement in expenditure outcomes to enhance compliance with legal duties and member outcomes. This remains a supervisory focus due to its significant impact on members.

    SupervisionSupervision approach, priorities & toolkitCorporate governance
  • 2025-06-24Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of bank-related scams involving fraudulent websites and phishing attempts

    The Hong Kong Monetary Authority issued a scam alert about fraudulent websites and phishing linked to The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA stressed that banks won't send SMS or emails with transaction hyperlinks or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.

    SupervisionAlertsFraud and scams
  • 2025-06-24KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan sets out how citizens can obtain a free annual credit report and dispute inaccuracies

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on credit histories, detailing their formation, lender usage, and correction procedures. Citizens can access one free credit report annually, with additional requests incurring a fee. Reports are available through various channels, and inaccuracies can be disputed via Fingramota.kz.

    Policy & regulationGuidance & interpretationCredit riskAccounting and financial reporting
  • 2025-06-24Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority publishes DNFBP AML/CFT Forum recording and Q&A ahead of MONEYVAL 2026 evaluation

    The Isle of Man Financial Services Authority released an online recording and Q&A document from its April 2025 Anti-Money Laundering and Countering the Financing of Terrorism Forum for Designated Non-Financial Businesses and Professions. The session detailed DNFBP supervisory structure, Code obligations, and updates on the Island’s National Risk Assessment and MONEYVAL evaluation preparations. The Q&A document addresses themes relevant to all supervised entities.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-06-24GlobalBank for International Settlements

    Bank for International Settlements sets out tokenised unified ledger blueprint and warns stablecoins fall short without regulation

    The Bank for International Settlements (BIS) released a chapter in its Annual Economic Report 2025, outlining a blueprint for a tokenised unified ledger system involving central bank reserves, commercial bank money, and government bonds. The BIS emphasizes tokenisation's potential to enhance cross-border payments and securities markets while maintaining trust in central bank money. It also highlights ongoing projects like Project Agorá and Project Pine to advance these initiatives.

    Policy & regulationInternational standards & recommendationsCBDCTokenization
  • 2025-06-24United KingdomUK Parliament

    UK Parliament’s Public Accounts Committee faults Department for Business and Trade over Post Office Horizon compensation, GBP 1.9bn Bounce Back Loan fraud and unclear priority industry support

    The UK Parliament’s Public Accounts Committee (PAC) reports insufficient progress by the Department for Business and Trade (DBT) in compensating Post Office Horizon scandal victims and recovering Bounce Back Loan Scheme (BBLS) fraud losses. Only a fraction of affected postmasters responded to compensation notifications, with GBP 1.9bn estimated lost and only GBP 130m recovered. The PAC also criticizes DBT's unclear support for priority industries, urging transparency in policy decisions affecting economic growth and competitiveness.

    Other
  • 2025-06-24UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan approves termination of Oriyonbank representative office in Uzbekistan

    The Central Bank of the Republic of Uzbekistan has terminated the activities of the Representative Office of Tajikistan’s OJSC Oriyonbank in Uzbekistan. This follows Oriyonbank’s Supervisory Board decision to close the office, which had been operational since August 4, 2022.

    SupervisionAuthorisations & approvalsOutsourcing and third-party risk management
  • 2025-06-24UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan expands financial literacy outreach to 71 remote districts

    The Central Bank of the Republic of Uzbekistan has expanded its financial literacy initiatives to 71 remote districts, focusing on entrepreneurship and banking services. In the Surkhandarya region, nine roundtable discussions were held, reaching 683 participants, including youth, women, and entrepreneurs, covering topics such as self-employment, microfinance, and financial security.

    Financial literacy & educationFinancial literacy and education
  • 2025-06-24UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan convenes 11 commercial banks to develop a strategy for financial services supporting women’s entrepreneurship

    The Central Bank of the Republic of Uzbekistan is collaborating with 11 commercial banks to develop a "Strategy for Providing Financial Services to Support Women’s Entrepreneurship" under Presidential Decree No. PP-103. A separate meeting in May with Hamroh, the Chamber of Commerce and Industry, and banks like Xalq Bank and Microcreditbank focused on creating tailored financial products, training, and mentorship for women entrepreneurs.

    Policy & regulationCooperationFinancial inclusion
  • 2025-06-24MexicoCONDUSEF

    Mexico’s National Commission for the Protection and Defense of Users of Financial Services signs financial education agreement with Tala and promotes the Confianzómetro 2025 anti-fraud tool

    Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) partnered with digital lender Tala to combat digital fraud through enhanced financial and digital education. Tala launched Confianzómetro 2025, a free tool to help users identify risks in digital credit offers. Findings show improved digital hygiene, with 78% of users checking for official websites before downloading apps, up from 43% in 2023.

    Financial literacy & educationFinancial literacy and education
  • 2025-06-24GlobalGPFI

    G20 Global Partnership for Financial Inclusion publishes outcomes from Pretoria side event on shifting financial inclusion from access to usage

    The G20 Global Partnership for Financial Inclusion (GPFI) released materials from its event "Moving the needle – Advancing financial inclusion, from access to usage," focusing on Africa and the shift from account access to active usage. Discussions included modernizing digital infrastructure, measuring inclusion with a gender lens, and enhancing customer protection in digital finance. The narrative emphasized the need for relevant financial products, digital capability, and robust frameworks, highlighting the potential of digital ID to unlock significant economic value.

    Policy & regulationGuidance & interpretationFinancial inclusionConsumer and investor protection
  • 2025-06-24TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan reviews REMIT PRIME implementation and financial inclusion cooperation with IFAD

    The National Bank of the Republic of Tajikistan and the International Fund for Agricultural Development discussed enhancing cooperation, focusing on the REMIT PRIME programme and Tajikistan’s National Financial Inclusion Strategy for 2022–2026. They also addressed the development of a financial literacy programme for 2026–2030 and plans for a banking academy. Both parties expressed commitment to aligning efforts with national priorities.

    Policy & regulationCooperationOther
  • 2025-06-24TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan notes IMF completion of Tajikistan Article IV consultation and second PCI review

    The National Bank of the Republic of Tajikistan reported strong economic growth in 2025, with acceptable inflation and a declining public debt-to-GDP ratio. The International Monetary Fund completed its Article IV consultation and the second review under the Policy Coordination Instrument, meeting all quantitative targets except one. The IMF urged governance and transparency reforms to address structural vulnerabilities and improve the business environment.

    Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsFinancial and market indicators
  • 2025-06-24Bosnia and HerzegovinaCentral Bank of Bosnia and Herzegovina

    Central Bank of Bosnia and Herzegovina and EBRD set implementation priorities for the WE Finance Code for women entrepreneurs

    The Central Bank of Bosnia and Herzegovina, with the European Bank for Reconstruction and Development, hosted a conference on implementing the Women Entrepreneurs Finance Code. The event addressed financing challenges for women entrepreneurs and established action plans to enhance access to finance, including monitoring mechanisms and capacity building for financial institutions. The initiative supports the coordinated implementation of the WE Finance Code.

    Policy & regulationImplementation, projects & pilotsDiversity and inclusion
  • 2025-06-24MoroccoCentral Bank of Morocco

    Central Bank of Morocco Holds Key Interest Rate at 2.25%

    The Central Bank of Morocco held its key interest rate at 2.25%, citing inflation consistent with its medium-term price stability objective, stronger non-agricultural growth and anchored inflation expectations amid significant uncertainty. It forecasts inflation of around 1% in 2025 and 1.8% in 2026, and economic growth of 4.6% and 4.4%, respectively.

    Monetary policyPolicy rate decisionsMonetary policy decisions and developments
  • 2025-06-24SpainBank of Spain

    Bank of Spain publishes Q1 2025 Central Balance Sheet data as non-financial firms’ sales rise 4.6% and ordinary net result falls 17.9%

    The Bank of Spain reported a 4.6% year-on-year increase in net turnover for non-financial corporations in Q1 2025, but a 17.9% decline in ordinary net result, with ordinary return on net assets falling to 3.6%. The decline was driven by weak performance in energy and oil refining, while commerce and hospitality sectors saw gains. Financial income decreased 27% due to lower dividends, and staff costs rose 4.2%, though financial expenses fell 9.9%.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-06-24South AfricaSouth African Reserve Bank

    South African Reserve Bank reports 0.3% April fall in leading business cycle indicator and March increases in coincident and lagging indicators

    The South African Reserve Bank reported a 0.3% decline in the composite leading indicator for April 2025, with decreases in seven of ten component series, notably real M1 money supply and domestic manufacturing orders. In contrast, the coincident and lagging indicators rose by 0.2% and 0.4% in March 2025, driven by increased real wholesale, retail, and motor trade sales.

    Data & statisticsEconomic data and developments
  • 2025-06-24South AfricaSouth African Reserve Bank

    South African Reserve Bank publishes 2024–25 national payment system report detailing NPS Bill preparation and payments modernisation programme

    The South African Reserve Bank released the 11th National Payment System Regulatory and Oversight Report, detailing developments from April 2024 to March 2025. Key initiatives include legal reforms to enhance competition, a draft exemption notice for non-bank access, and directives on cybersecurity and screen scraping. The report outlines future milestones, including the Vision 2025 progress report and the NPS Vision 2030+ strategy, with implementation beginning in 2026.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-06-24United Arab EmiratesUAE Securities & Commodities Authority

    UAE Securities & Commodities Authority refers unlisted public joint-stock company board members to the Public Prosecution for governance breaches

    The UAE Securities & Commodities Authority has referred several board members of an unlisted public joint-stock company to the Public Prosecution for breaches of Federal Decree-Law No 32 of 2021. The violations pertain to governance and disclosure requirements, with the SCA warning of potential prosecution for such breaches.

    EnforcementInvestigations & enforcement actionsCorporate governance
  • 2025-06-24Sint Maarten & CuracaoCentral Bank of Sint Maarten & Curacao

    Central Bank of Curaçao and Sint Maarten’s National Payment Council agrees to launch public campaign against payment fraud

    The Central Bank of Curaçao and Sint Maarten announced a public awareness campaign to combat payment fraud amid the rise of new payment methods. The National Payment Council (NPC) also reviewed progress on harmonising local payment card fees and discussed Instant Payment technology, drafting guidelines for real-time interbank transfers and exploring international instant payments.

    Financial literacy & educationFraud and scamsConsumer and investor protection
  • 2025-06-24United StatesNew York State Department of Financial Services

    New York State Department of Financial Services issues insurance claims guidance and points policyholders to disaster and flood recovery resources after severe storms

    The New York State Department of Financial Services has released resources for homeowners managing insurance claims post-disaster, directing them to its Disaster and Flood Recovery Resource Center. The guidance includes filing claims, documenting damage, and using DFS channels for complaints and insurance information. DFS also provides assistance via its disaster hotline for coverage and property safeguarding inquiries.

    Policy & regulationGuidance & interpretationOther
  • 2025-06-24BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission rejects settlement proposal in Mitre Realty investor disclosure case

    The Brazil Securities Commission (CVM) rejected a settlement proposal from Thaís Nogueira Alonso, investor relations director of Mitre Realty, in a case concerning alleged disclosure failures. The Settlement Committee deemed it inappropriate due to the seriousness of the allegations, including nondisclosure of a material fact, incomplete board meeting minutes, and omissions in the 2023 Reference Form. The case will proceed to a merits decision by the CVM Board.

    EnforcementInvestigations & enforcement actionsCorporate governance
  • 2025-06-24BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission extends to 18 July 2025 the consultation on reforms to material fact and market communication disclosure rules

    The Brazil Securities Commission (CVM) has extended the deadline for public comments on proposed reforms to disclosure rules, now due by 18 July 2025. The draft rule aims to replace CVM Resolution 44, focusing on significant shareholdings and the use of Material Fact and Market Communication instruments.

    Policy & regulationRules & requirementsDisclosures
  • 2025-06-24PolandMinistry of Finance (Poland)

    Poland's Ministry of Finance announces government adoption of a MiCA-aligned cryptoasset market bill placing the sector under KNF supervision

    Poland's Ministry of Finance announced the Council of Ministers' adoption of a draft law to align national legislation with the EU Markets in Crypto-Assets Regulation (MiCA). The framework aims to regulate the cryptoasset market, focusing on client and investor protection, with oversight by the Polish Financial Supervision Authority. Key provisions include supervisory tools for the KNF, criminal liability for severe violations, and compliance with anti-money laundering rules.

    Policy & regulationRules & requirements
  • 2025-06-24MalaysiaMalaysia Securities Commission

    Malaysia Securities Commission introduces product governance guidelines for unlisted capital market products

    The Malaysia Securities Commission issued Guidelines on Product Governance to enhance investor protection and ensure responsible development of unlisted capital market products. Firms must prioritize investor interests, improve product suitability, and hold boards and senior management accountable, excluding ordinary shares, OTC derivatives, venture capital, private equity funds, and products on recognized market platforms. The principle-based guidelines require collaboration between issuers and distributors and will be effective from 2 January 2026.

    Policy & regulationGuidance & interpretationCorporate governance
  • 2025-06-24AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan trains credit unions on applying AML CFT legislation

    The Central Bank of the Republic of Azerbaijan conducted a training session for credit unions on anti-money laundering and counter-terrorist financing (AML/CFT) legislation. The session focused on AML/CFT obligations, internal control programmes, customer due diligence, and monitoring suspicious transactions, including a presentation and Q&A.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-06-24CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario extends application deadline for Credit Union Policy Initiatives and Deposit Insurance Reserve Fund advisory committees

    The Financial Services Regulatory Authority of Ontario has extended the application deadline to August 15, 2025, for two Credit Union Technical Advisory Committees: the Credit Union Policy Initiatives committee and the Deposit Insurance Reserve Fund committee. FSRA seeks senior professionals and stakeholders for three-year terms to advise on issues impacting Ontario’s credit union sector. Current members with expiring terms may also apply.

    Policy & regulationImplementation, projects & pilotsHiring and recruitment
  • 2025-06-24CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario revokes Warden Wellness Centre service provider licence and imposes CAD 10,000 penalty on principal representative

    The Financial Services Regulatory Authority of Ontario revoked Warden Wellness Centre Ltd.'s service provider licence and fined Anusuya Gobinathan CAD 10,000 after the Financial Services Tribunal dismissed their hearing request. FSRA found Warden Wellness provided false, misleading, and incomplete information, violating Ontario’s Insurance Act, and deemed its conduct likely to continue unlawfully. Gobinathan was penalized for similar violations in the application process.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-06-24PolandCentral Bank of Poland

    Central Bank of Poland reports PLN 22.8bn rise in M3 in May 2025 driven by higher non-financial corporate deposits

    The Central Bank of Poland reported a rise in the M3 money supply by PLN 22.8bn in May 2025, reaching PLN 2,569.9bn, primarily due to increased deposits and claims from non-financial corporations. Deposits in the non-financial corporate sector grew by PLN 10.2bn, while household debt increased by PLN 3.2bn. Additionally, central government net debt rose by PLN 5.9bn.

    Data & statisticsMonetary data
  • 2025-06-24GlobalISDA

    ISDA urges US banking agencies to reform leverage and capital rules to support mandatory US Treasury and repo clearing

    ISDA CEO Scott O’Malia noted challenges in implementing US Treasury market clearing mandates, emphasizing adjustments in the US prudential framework to maintain banks' intermediation capacity. Key issues include the supplementary leverage ratio's impact on balance sheet capacity, potential capital increases under Basel III endgame rules, and the need for margin requirements to reflect actual risk, with market readiness efforts underway for mandates starting in late 2026.

    Policy & regulationReform agendas & prioritiesPrudential risksMarket infrastructure
  • 2025-06-24Saudi ArabiaSaudi Arabia Insurance Authority

    Saudi Arabia Insurance Authority transfers inherent defects insurance pool leadership to Tawuniya for three years

    The Saudi Arabia Insurance Authority transferred leadership of the Inherent Defects Insurance pool from Malath to Tawuniya for three years from June 24, 2025. The mandatory product, supported by 17 insurers, covers latent structural defects in residential and commercial buildings.

    SupervisionAuthorisations & approvalsLeadership change and appointmentsCorporate governance
  • 2025-06-24Saudi ArabiaSaudi Arabia Insurance Authority

    Saudi Arabia Insurance Authority grants Howden final reinsurance brokerage license

    The Saudi Arabia Insurance Authority granted Howden Reinsurance Brokers a final license to provide reinsurance brokerage services through direct investment in the local market. The license supports competition, specialized expertise and regulated reinsurance arrangements between insurers and reinsurers.

    SupervisionAuthorisations & approvalsCompetition and market structureMarket developmentCompliance
  • 2025-06-24United KingdomHM Treasury

    HM Treasury and the U.S. Department of the Treasury publish joint statement on the 11th UK-U.S. Financial Regulatory Working Group and plan to reconvene by early 2026

    HM Treasury and the U.S. Department of the Treasury released a joint statement from the 11th UK-U.S. Financial Regulatory Working Group meeting, highlighting discussions on economic stability, regulatory initiatives, and digital finance. Key topics included non-bank financial intermediation, cybersecurity, stablecoin legislation, and the UK's move to a T+1 settlement cycle by October 2027. The group agreed to continue dialogue through their forum.

    Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
  • 2025-06-24EuropeEuropean Payments Council

    European Payments Council launches second phase of EPC Directory Service pilot for Verification of Payee participants and routing mechanisms

    The European Payments Council has initiated the second phase of the EPC Directory Service Pilot, extending participation to all Verification Of Payee scheme participants and qualified Routing and/or Verification Mechanisms. The pilot will conclude in August, with a Live mode launch planned for early September 2025. Payment service providers and RVMs onboarded during the pilot will transition to the Live platform without re-onboarding.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-06-24CanadaNew Brunswick Financial & Consumer Services Commission

    New Brunswick Financial and Consumer Services Commission warns Lightning Shared Scooter Co is not registered to deal or advise in securities

    The New Brunswick Financial and Consumer Services Commission issued a warning that Lightning Shared Scooter Co. (LSSC) is not registered to deal or advise in securities in New Brunswick. The alert includes additional names used by the company, such as LSSC Canada Inc. and LSSC Edmonton Ltd., and advises investors to verify registration status via the National Registration Search tool.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-06-24EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority publishes April 2025 figures showing EGP 384bn in supervised financing and EGP 38.4bn in insurance premiums

    The Egypt Financial Regulatory Authority's April 2025 report details EGP 384bn in total financing across capital market and non-banking financial activities. Key figures include EGP 180.6bn in equity issuances, EGP 52.1bn in financial leasing, and EGP 31.8bn in MSME financing. By end-April, the movable collateral registry filings reached EGP 3.4trn, with insurance premiums at EGP 38.4bn and claims paid at EGP 18.4bn.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-06-24United StatesFederal Deposit Insurance Corporation

    Federal Deposit Insurance Corporation offers supervisory relief for FDIC-supervised institutions supporting disaster recovery in storm-affected Tennessee counties

    The FDIC announced measures to aid FDIC-supervised institutions in Tennessee affected by severe weather, following a FEMA disaster declaration. The FDIC encourages lenders to adjust loans and may offer relief from reporting and compliance requirements. It will expedite requests for temporary banking facilities and consider Community Reinvestment Act credit for recovery efforts.

    SupervisionInterventionsOther
  • 2025-06-24ChileCentral Bank of Chile

    Central Bank of Chile announces 30 million centenary CLP 100 coins to enter circulation from 21 July

    The Central Bank of Chile announced the design and issuance plan for a special-edition CLP 100 coin to commemorate its centenary, set to circulate from 21 July. The coin, featuring a centenary logo, will be legal tender and circulate alongside existing CLP 100 coins. Distribution will occur through commercial banks and established commerce.

    Monetary policyMonetary policy instruments & operationsOther
  • 2025-06-24NorwayNorwegian Finanstilsynet

    Financial Supervisory Authority of Norway reports Ministry of Finance upheld order for Fremtind to stop marketing and selling product packages

    Norway's Financial Supervisory Authority stated that the Ministry of Finance upheld its decision requiring Fremtind Forsikring AS to stop marketing benefit programmes as product packages. The Ministry found the discounts offered were especially favourable and not justified by documented, quantifiable cost savings. Finanstilsynet expects banks and insurers to review their product packages for compliance and will monitor adherence through ongoing supervision.

    EnforcementInvestigations & enforcement actionsSales and distribution
  • 2025-06-24NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority issues thematic review on banks’ management of terrorist financing risk

    The Norwegian Financial Supervisory Authority released a report on how selected banks manage terrorist financing risk, using data from seven Norwegian banks and three foreign branches. It emphasizes the distinct nature of terrorist financing risk compared to money laundering, highlighting the importance of transaction destination and small-value transfers. The report outlines good practices, including separate assessments of exposure by product, customer, and geography, and integrating emerging risks into customer risk-scoring and monitoring scenarios.

    SupervisionReviews, inspections & stress testsAML and CFT
  • 2025-06-24ChileChile Financial Market Commission

    Chile Financial Market Commission opens second consultation on rules to enable parametric insurance and revise earthquake technical reserve methodologies

    The Chile Financial Market Commission issued a second consultation on draft regulations under the Fintech Act to permit insurers to offer parametric insurance, expanding insurable risks and indices. The framework outlines criteria for parametric insurance and proposes amendments to General Rule No. 306 on technical reserves for earthquake-specific contracts. The revisions reflect automatic index triggers, fixed insured sums, and binary payout structures.

    Policy & regulationRules & requirementsFintech and insurtech
  • 2025-06-24GreeceHellenic Capital Market Commission

    Hellenic Capital Market Commission fines two investment firms and removes FORIS DAX MT from crypto service registers

    The Hellenic Capital Market Commission approved disclosure documents for Aegean Airlines SA's bond issuance and GI.EL.DI Holding's public offer for Kepenou Mills SA, while imposing fines for investment services and anti-money laundering breaches. Hellenic American Securities S.A. was fined EUR 8,000 for investment service regulation breaches, and MAVRIKIS AEPEY was fined EUR 4,000 for AML violations. FORIS DAX MT LIMITED was removed from the Commission’s crypto service registers.

    SupervisionAuthorisations & approvalsSecurities offerings and listingsAML and CFT
  • 2025-06-24VietnamState Bank of Vietnam

    State Bank of Vietnam sets 2025-2027 priorities for its Payment Department including stronger oversight of payment systems and SIMO deployment

    The State Bank of Vietnam's Payment Department held its 2025-2027 term congress, electing a new executive committee and receiving directives from Deputy Governor Pham Tien Dung on cashless payments, digital banking, and payment-system safety. Key tasks include enhancing the legal framework for digital banking, coordinating with the Ministry of Public Security on Project 06, and strengthening payment system supervision. The new committee will integrate these priorities into its action plan.

    Institutional developmentLeadership change & appointmentsOrganizational structure
  • 2025-06-24VietnamState Bank of Vietnam

    State Bank of Vietnam briefs IMF Article IV mission on 2025 monetary policy stance and forthcoming systemic risk circular

    The State Bank of Vietnam hosted the IMF’s Article IV mission, discussing macroeconomic conditions and policy recommendations amid global risks. The central bank reported strong growth, controlled inflation, and stable foreign investment, while highlighting risks from global instability. The IMF recommended strengthening macroeconomic buffers and modernising the policy framework, noting Vietnam's institutional reforms and productivity gains for medium-term growth.

    Policy & regulationInternational standards & recommendationsCross-border cooperation
  • 2025-06-24CanadaBritish Columbia Financial Services Authority

    British Columbia Financial Services Authority fines Peter Chu CAD 75,000 for unlicensed rental property management and penalises Rena Liang CAD 50,000 for professional misconduct

    The British Columbia Financial Services Authority imposed a CAD 75,000 penalty on Peter Ho Chiu Chu and 168 Rock Solid Homes Ltd. for unlicensed rental property management services, and a CAD 50,000 penalty on Rui (Rena) Liang and Rena Liang Personal Real Estate Corporation for related professional misconduct. Chu's activities spanned eight years, involving at least 31 properties, while Liang's misconduct included supporting Chu and misusing her corporation for a CAD 500,000 loan. Both face additional costs and remedial actions.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-06-24ThailandMinistry of Finance (Thailand)

    Thailand's Ministry of Finance selection committee submits two nominees for Bank of Thailand governor

    Thailand's Ministry of Finance has received two shortlisted nominees for the next Governor of the Bank of Thailand from the selection committee. The committee concluded its mandate after interviewing candidates and reviewing their vision presentations. The Minister of Finance will now decide which nominee to propose to the Cabinet for royal appointment.

    Institutional developmentLeadership change & appointmentsLicence approval
  • 2025-06-24United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission wins jury verdict finding Thomas F. Casey liable for fraud in USD 10 million Golden Genesis offering

    The U.S. Securities & Exchange Commission announced a jury verdict in the U.S. District Court for the Southern District of California finding Thomas F. Casey liable for securities fraud. The scheme targeted retirees, inducing over 200 individuals to invest more than USD 10 million in Golden Genesis with false promises of high returns and secured investments. The SEC reported that the funds were misused, leading to approximately USD 8 million in losses.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-06-24AngolaMinistry of Finance (Angola)

    Angola Ministry of Finance highlights Luanda stock exchange meeting focused on regional market integration and regulatory strengthening

    The Angola Ministry of Finance reported on a Luanda meeting of Southern African stock exchanges organized by BODIVA that focused on institutional strengthening, regulatory harmonization and regional market integration. Discussions also covered product development, capacity building and progress on CoSSE's strategic plan for the current year.

    Policy & regulationCooperationMarket developmentDomestic cooperation
  • 2025-06-24ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission presents first-stage tokenisation regime for real world assets in publicly offered trusts and closed-end funds

    The Argentina Securities Commission (CNV) has approved tokenisation rules under General Resolution 1069, establishing a regime for financial trusts and closed-end mutual investment funds focused on real world and non-listed assets. This framework follows a public consultation and involves collaboration with key financial entities. A second stage of the tokenisation rules is in progress.

    Policy & regulationRules & requirementsTokenization
  • 2025-06-24AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority issues letter to superannuation RSE licensees on expenditure outcomes and members’ best financial interests

    The Australian Prudential Regulation Authority issued a letter to Registrable Superannuation Entity licensees detailing initial observations, best practices, and areas for improvement to enhance compliance with legal duties and improve member outcomes, with a focus on expenditure outcomes and members' best financial interests.

    SupervisionSupervision approach, priorities & toolkitCorporate governance
  • 2025-06-24LuxembourgMinistry of Finance (Luxembourg)

    Luxembourg Ministry of Finance outlines Eurogroup and Ecofin agenda with focus on digital euro and Bulgaria’s euro area accession

    The Luxembourg Ministry of Finance summarized Finance Minister Gilles Roth's participation in Eurogroup and Ecofin meetings, focusing on euro area fiscal developments, competitiveness, the digital euro, and Bulgaria’s euro area accession. Eurogroup ministers reviewed budgetary developments and the digital euro, while Ecofin addressed customs tax reform and energy developments. Roth emphasized Luxembourg’s support for the digital euro, noting unresolved legal questions.

    Policy & regulationOtherMonetary policy decisions and developments
  • 2025-06-24ParaguayCentral Bank of Paraguay

    Central Bank of Paraguay Holds Policy Rate at 6.00%

    The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate at 6.00% on 24 June 2025, where it has remained since January, citing solid domestic activity, inflation expectations aligned with the 3.5% target over the policy horizon, and higher external uncertainty linked to Middle East tensions and oil price volatility. The Committee said May annual inflation was 3.6% and 12-month inflation expectations eased to 3.7%, and it reiterated that it will closely monitor domestic and external developments to ensure compliance with the target.

    Monetary policyPolicy rate decisionsMonetary policy decisions and developments
  • 2025-06-24MoldovaNational Bank of Moldova

    National Bank of Moldova and Central Bank of Montenegro reaffirm cooperation on SEPA engagement and institutional transformation

    The National Bank of Moldova reported a meeting between Governor Anca Dragu and Irena Radović, Governor of the Central Bank of Montenegro, focusing on institutional transformation, European integration, and SEPA engagement. The discussion emphasized cooperation on enhancing women's leadership in the financial sector. Both central banks, led by women for the first time, expressed commitment to deepening cooperation and sharing reform experiences.

    Policy & regulationCooperationCross-border cooperation
  • 2025-06-24MoldovaNational Bank of Moldova

    National Bank of Moldova flags areas to strengthen national AML/CFT rules to align with the EU package at capacity-building workshop

    The National Bank of Moldova's First Deputy Governor, Petru Rotaru, attended a workshop to align Moldova's anti-money laundering and counter-terrorist financing framework with EU standards. The event focused on strengthening AML/CFT capabilities and discussed the EU's legislative package, including Directive (EU) 2024/1640 and Regulation (EU) 2024/1624. Rotaru highlighted Moldova's progress in financial integrity, noting acceptance into SEPA and improvements cited in a MONEYVAL report.

    Policy & regulationCooperationAML and CFT
  • 2025-06-24United StatesU.S. Department of the Treasury

    U.S. Department of the Treasury and HM Treasury reaffirm bilateral regulatory cooperation through the U.S.-UK Financial Regulatory Working Group and plan early 2026 meeting

    The U.S. Department of the Treasury and HM Treasury reaffirmed bilateral cooperation following the 11th U.S.-UK Financial Regulatory Working Group meeting, focusing on financial stability, regulatory developments, and digital finance. Discussions included economic outlooks, non-bank financial intermediation, banking regulation, cybersecurity, digital assets, and capital markets reforms. The group plans to reconvene by early 2026.

    Policy & regulationCooperationCross-border cooperationRegtech and suptech
  • 2025-06-24TaiwanTaiwan Financial Services Commission

    Taiwan Financial Services Commission reports April 2025 surge in life insurers’ foreign currency policy sales

    The Taiwan Financial Services Commission reported that foreign currency denominated life insurance products saw new-policy premium revenue of NT$124.945 billion as of end-April 2025, a 30% increase year on year. Investment-linked products contributed NT$19.268 billion, up 36%, while traditional products accounted for NT$105.677 billion, up 29%.

    Data & statisticsFinancial and market indicators
  • 2025-06-24United Arab EmiratesCentral Bank of the UAE

    Central Bank of the UAE fines an exchange house AED 2 million for AML CFT compliance failures

    The Central Bank of the UAE has fined an exchange house AED 2,000,000 for non-compliance with anti-money laundering and counter-terrorist financing regulations, following an examination. The penalty was issued under Article 137 of Decretal Federal Law No. 14 of 2018, as amended.

    EnforcementSanctions & designationsNew sanctions designations
  • 2025-06-23IsraelBank of Israel

    Bank of Israel reports nonfinancial private sector debt rose to NIS 2.3 trillion in Q1 2025

    The Bank of Israel's first-quarter 2025 update reports a 1.3% increase in nonfinancial private sector debt, totaling approximately NIS 2.3 trillion, with business sector debt rising by 1.5% to NIS 1.4 trillion and household debt increasing to NIS 855 billion, primarily due to housing debt growth.

    Data & statisticsFinancial and market indicatorsMonetary data
  • 2025-06-23AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission participates in ATIDI investor roundtable on reducing the cost of capital in Africa

    The Angola Capital Markets Commission participated in an investor roundtable at the 25th Annual General Assembly of African Trade & Investment Development Insurance, focusing on reducing the cost of capital in Africa. Discussions highlighted the role of capital markets in expanding financing options and lowering funding costs, with emphasis on Angola's Privatization Programme and the use of multilateral guarantees.

    Policy & regulationCooperationCross-border cooperation
  • 2025-06-23EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority launches discussion paper on integrating funds reporting to cut compliance burden

    The European Securities and Markets Authority (ESMA) released a discussion paper seeking input on integrating funds supervisory reporting to ease compliance burdens in asset management. The paper proposes centralizing processes and infrastructure to address fragmentation from national and EU-level regimes. This initiative is part of ESMA's broader effort to simplify and reduce reporting burdens, moving towards a more integrated approach like financial transaction reporting.

    Policy & regulationReform agendas & prioritiesRegulatory burden
  • 2025-06-23DenmarkDanish Finanstilsynet

    Danish Financial Supervisory Authority issues good practice note on employee screening and internal controls to mitigate money laundering risks

    The Danish Financial Supervisory Authority issued a note on best practices for internal controls and employee screening in financial firms to mitigate risks like money laundering and terrorist financing. Based on firm responses and supervisory insights, it covers hiring practices, ongoing monitoring, and handling suspicious employee behavior. The note is not legal guidance and introduces no new requirements.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-06-23British Virgin IslandsMinistry of Finance (British Virgin Islands)

    British Virgin Islands Ministry of Finance publishes policy on legitimate-interest access to beneficial ownership register with 25% threshold

    The British Virgin Islands Ministry of Finance issued a policy on accessing beneficial ownership information for BVI business companies and limited partnerships, focusing on AML, CFT, and CPF purposes. The framework, with privacy safeguards, allows requests via the VIRRGIN platform for individuals with 25% or more ownership, with an objections process. This policy is part of broader reforms since early 2024, with draft regulations and industry consultations forthcoming.

    Policy & regulationRules & requirementsBeneficial ownership
  • 2025-06-23MontenegroCentral Bank of Montenegro

    Central Bank of Montenegro opens CEF Forum 2025 and outlines reform milestones including SEPA participation and an instant payments system

    The Central Bank of Montenegro's Vice-Governor, Zorica Kalezic, opened the CEF Forum 2025, highlighting reform milestones to enhance services and support Montenegro's European integration. Key initiatives include joining the Single Euro Payments Area, developing a national instant payment system, aligning regulations with EU standards, and a strategic plan for 2025–2028. The forum also featured discussions on institutional capacity building in Southeast Europe.

    Policy & regulationReform agendas & prioritiesOther
  • 2025-06-23AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission secures Federal Court dismissal of former LM Managed Performance Fund auditor’s challenge to registration cancellation

    The Federal Court dismissed Reginald Lance Williams' appeal against the Companies Auditors Disciplinary Board's decision to cancel his auditor registration and ordered him to pay ASIC's costs. The CADB's 2018 decision followed Williams' inadequate performance in auditing the LM Managed Performance Fund's 2012 financial report. The Court upheld the CADB's expertise and procedural fairness in its June 2025 judgment.

    EnforcementInvestigations & enforcement actionsAuditing
  • 2025-06-23BelgiumBelgium Financial Services and Markets Authority

    Belgium Financial Services and Markets Authority approves modified market rules for Euronext Brussels and its derivatives market

    Belgium's Financial Services and Markets Authority (FSMA) approved amendments to the market rules for Euronext Brussels and the Euronext Brussels Derivative Instruments Market. The approval, granted on 3 June 2025 under Article 34, §1 of the Law of 21 November 2017, aligns with Directive 2014/65/EU. The updated rules are available on Euronext’s website.

    Policy & regulationRules & requirementsMarket infrastructure
  • 2025-06-23KuwaitKuwait Capital Markets Authority

    Kuwait Capital Markets Authority issues disciplinary fines for Arabi Holding Group and senior officials over disclosure and corporate governance breaches

    The Kuwait Capital Markets Authority fined Arabi Holding Group Company and executives for violating disclosure, transparency, and corporate governance rules. Breaches included not disclosing a KWD 7,430,316 settlement, issuing misleading disclosures, and non-compliance with financial reporting standards. Fines ranged from KWD 5,000 to KWD 10,000.

    EnforcementInvestigations & enforcement actionsCorporate governance
  • 2025-06-23KuwaitKuwait Capital Markets Authority

    Kuwait Capital Markets Authority disciplinary board fines Burgan Company KWD 5,000 for failing to disclose court rulings on time

    The Kuwait Capital Markets Authority imposed a KWD 5,000 penalty on Burgan Company for Well Drilling, Trading and Maintenance for breaching disclosure and transparency requirements. The company failed to disclose material litigation developments, including first-instance and appeal judgments, in a timely manner, only disclosing the cassation judgment in December 2024. This violation pertains to Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010.

    EnforcementInvestigations & enforcement actionsDisclosures
  • 2025-06-23KuwaitKuwait Capital Markets Authority

    Kuwait Capital Markets Authority fines Giad Holding KD 3,000 for breach of insiders list disclosure and transparency rules

    The Kuwait Capital Markets Authority imposed a KD 3,000 penalty on Giad Holding Company for breaching disclosure and transparency requirements. The company failed to update its insiders list within five working days, as mandated by Clause (2) of Article (3-5-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010. The violation involved not disclosing changes related to the board secretary's status on the insiders list.

    EnforcementInvestigations & enforcement actionsDisclosures
  • 2025-06-23KuwaitKuwait Capital Markets Authority

    Kuwait Capital Markets Authority imposes warning on Securities House Company for deficient Robo Zad Instagram advertising

    The Kuwait Capital Markets Authority's Disciplinary Board issued a warning to Securities House Company for breaches in promotional advertising of its automated investment adviser service, "Robo Zad." The violations included omissions of required disclosures and incorrect historical returns in ads on Instagram. The penalty includes a warning and a caution against repeating the conduct.

    EnforcementInvestigations & enforcement actions
  • 2025-06-23AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission sets financial advice priorities targeting high-pressure sales, 1 January 2026 adviser qualification compliance and offshore outsourcing risks

    The Australian Securities & Investments Commission (ASIC) prioritizes regulating financial advice, targeting high-pressure sales and adviser qualifications. ASIC warns against online promotions for high-risk investments and mandates adviser qualification standards by January 2026. A review of offshore outsourcing focuses on governance and data protection. Enforcement includes court actions, investigations, and a social media campaign for consumer guidance. Licensees must verify qualifications and report misconduct, aided by a temporary ASIC dataset.

    Policy & regulationReform agendas & prioritiesConsumer and investor protection
  • 2025-06-23EuropeEuropean Financial Reporting Advisory Group

    European Financial Reporting Advisory Group publishes educational video on the VSME Digital Template and Template to XBRL Converter

    The European Financial Reporting Advisory Group released a video on using the VSME Digital Template and Template to XBRL Converter for digitalising sustainability reporting by SMEs. It details features like interactive checkboxes and automatic calculations, and demonstrates converting files into machine-readable reports using the open-source converter. AI-translated versions and related resources are available on EFRAG's webpage.

    Policy & regulationGuidance & interpretationAccounting and financial reporting
  • 2025-06-23EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority launches call for evidence on streamlining supervisory reporting and pauses MiFIR reporting RTS changes

    The European Securities and Markets Authority (ESMA) has initiated a call for evidence to simplify supervisory reporting under its Data Strategy, aiming to reduce costs while maintaining transparency. ESMA is pausing changes to MiFIR reporting rules during this consultation, addressing industry concerns about overlapping obligations and unsynchronized regulatory changes. Two simplification approaches are proposed: removing overlaps or adopting a unified "report once" template.

    Policy & regulationImplementation, projects & pilotsRegulatory burdenRegulatory reporting
  • 2025-06-23UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market releases May 2025 capital market digest with higher turnover across organized and unorganized trading

    The Ukraine National Commission on Securities and Stock Market's May 2025 digest reports a rise in organized market turnover to UAH 78.2 billion, driven by government bonds. Unorganized market turnover increased to UAH 55.8 billion, with significant activity in government and corporate bonds, CIF shares, and investment certificates. The Commission will maintain open access to statistical data and analytics for market participants.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-06-23Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority approves Jamjoom Fashion Trading Company to offer 2,384,340 shares equal to 30% of capital on the Parallel Market

    The Saudi Arabia Capital Markets Authority (CMA) approved Jamjoom Fashion Trading Company's application to register and offer 2,384,340 shares, representing 30% of its share capital, on the Parallel Market, limited to Qualified Investors. The CMA emphasized that its approval is not an investment recommendation but confirms compliance with legal requirements. The approval is valid for six months from the resolution date.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-06-23Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority approves Alwazn Almithali for Trading Company to register and offer 451,500 shares in the Parallel Market

    The Saudi Arabia Capital Markets Authority approved Alwazn Almithali for Trading Company's application to register and offer 451,500 shares in the Parallel Market, representing 15% of its share capital. The offer is limited to Qualified Investors as per the CMA's Glossary of Defined Terms. The approval is valid for six months and is not an investment recommendation.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-06-23Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Markets Authority approves public offering of Quencia Saudi Equity Fund

    The Saudi Arabia Capital Markets Authority approved Quencia Capital Company's public offering of the Quencia Saudi Equity Fund. Investors are advised to review the fund's terms, conditions, and risk factors, and to consult the fund manager for any clarifications. The approval confirms compliance with legal requirements under the Capital Market Law and its Implementing Regulations, not a subscription recommendation.

    SupervisionAuthorisations & approvalsSecurities offerings and listings