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  • 2025-06-11United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission extends amended Form PF reporting compliance date to October 1, 2025

    The U.S. Securities and Exchange Commission has extended the compliance date for Form PF amendments to October 1, 2025, allowing more time for system development and addressing reporting questions. This decision follows industry feedback and ongoing work on XML reporting schema and validations. Commissioner Hester M. Peirce expressed concerns about the scope and cost of Form PF expansions, supporting a review of its alignment with systemic risk goals.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-06-11United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission sets agenda and panelists for June 26 roundtable on executive compensation disclosure requirements

    The U.S. Securities and Exchange Commission announced the agenda for its June 26, 2025 roundtable on executive compensation and disclosure requirements, featuring remarks from Chairman Paul Atkins and Commissioners. The event will include panels on executive compensation setting, investor use of pay information, and the evolution of disclosure rules, including Dodd-Frank Act mandates. Online viewing is available, and feedback can be submitted via the SEC event page.

    Policy & regulationImplementation, projects & pilotsCorporate governance
  • 2025-06-11MoldovaMinistry of Finance (Moldova)

    Moldova's Ministry of Finance advances a government-approved 2025–2030 capital market development strategy

    Moldova's Ministry of Finance has approved the National Strategy for the Development of the Capital Market for 2025–2030, aiming to enhance market dynamism and broaden investor participation. The strategy includes financial education, new financial instruments like mortgage and green bonds, and modernized infrastructure with electronic auctions. Oversight will be conducted by the National Commission for Financial Markets, reporting to Parliament.

    Policy & regulationReform agendas & prioritiesMarket developmentFinancial literacy and education
  • 2025-06-11ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission adds non-resident carve-out from ARS 200 million daily cap on transfers of certain Treasury securities to foreign depositories

    Argentina's Securities Commission (CNV) issued General Resolution No. 1068, exempting non-residents from the ARS 200 million daily limit on transfers of negotiable securities to foreign depository institutions. The exemption applies to National Treasury securities with amortisation dates at least 180 days from issuance, acquired in primary placements or auctions, and only up to the nominal amount subscribed. This measure is part of a broader easing of operating restrictions aligned with national government policy.

    Policy & regulationRules & requirementsCross-border payments
  • 2025-06-11South KoreaBank of Korea

    Bank of Korea publishes Financial Market Trends in May 2025

    The Bank of Korea issued its "Financial Market Trends in May 2025" report, detailing recent financial market developments. The release includes additional files on topics such as bank lending.

    Data & statisticsFinancial and market indicatorsMonetary data
  • 2025-06-11South KoreaBank of Korea

    Bank of Korea publishes 2024 financial statement analysis showing sales growth rebounded to 4.2% and operating margins rose to 6.5%

    The Bank of Korea's Financial Statement Analysis for 2024 indicates improved growth and profitability, with overall sales growth rising from -2.0% to 4.2% and operating profit margins increasing from 5.4% to 6.5%. Sector-specific gains were noted in manufacturing and non-manufacturing. Financial stability metrics remained stable, with slight declines in the debt and borrowing dependence ratios.

    Data & statisticsAccounting and financial reporting
  • 2025-06-11IndiaSecurities & Exchange Board of India

    Securities and Exchange Board of India to introduce validated UPI handles and SEBI Check verification for payments to registered intermediaries from 1 October 2025

    SEBI has introduced a payment security framework to enhance investor protection and prevent unauthorized fund collection. Effective 1 October 2025, SEBI-registered intermediaries must use a structured UPI address with a “@valid” handle and a category-identifying suffix, verified by the National Payments Corporation of India. The framework includes a new investor verification tool, “SEBI Check,” allowing investors to confirm UPI IDs and associated bank details.

    Policy & regulationRules & requirementsPayments and payment systemsConsumer and investor protection
  • 2025-06-11Cayman IslandsCayman Islands Monetary Authority

    Cayman Islands Monetary Authority issues insurance preparedness guidance for the 2025 hurricane season

    The Cayman Islands Monetary Authority issued guidance on hurricane-season insurance preparedness, highlighting a 30% protection gap in property insurance coverage. Property owners are advised to review policies for coverage details, reassess sums insured due to rising construction costs, and ensure they use licensed insurers.

    Policy & regulationGuidance & interpretationOther
  • 2025-06-11PalestinePalestine Monetary Authority

    Palestine Monetary Authority reassures on bank solvency and seeks to preserve correspondent banking links amid Israeli threats

    The Palestine Monetary Authority affirmed the financial soundness of Palestinian banks and the security of depositors' funds amid Israeli threats to sever correspondent banking relations. It emphasized that any disruption could jeopardize access to essential goods and services. The PMA is coordinating with political leaders and the international community to protect these banking relationships and maintain commercial transactions.

    SupervisionAlertsPayments and payment systems
  • 2025-06-10ItalyItalian Securities Commission (Consob)

    Italian Securities Commission adopts rules for a commitments procedure to close sanctioning proceedings without a penalty

    The Italian Securities Commission (Consob) has approved amendments to its sanctioning-proceedings framework, introducing "commitments" as an alternative to resolve enforcement cases without sanctions. This mechanism requires the addressee to undertake remedial measures and follows a market consultation initiated in January. The new regime will be effective the day after its publication in the Official Gazette.

    Policy & regulationRules & requirementsOther
  • 2025-06-10BulgariaBulgaria Financial Supervision Commission

    Bulgaria Financial Supervision Commission approves Tiz Invest bond prospectus and removes Orpheus Club Wellness and Plovdiv Tech Park from the public company register

    The Bulgaria Financial Supervision Commission approved a prospectus for Tiz Invest AD's BGN 7,000,000 bond issue for trading on a regulated market and registered the bonds accordingly. Additionally, the Commission delisted Orpheus Club Wellness AD and Plovdiv Tech Park AD as public companies, removing their share issues from the register.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-06-10AngolaAngola Insurance Authority (ARSEG)

    Angola Insurance Authority fines BIC Seguros AOA 70,000,000 for 2024 AML/CFT compliance breaches

    The Angola Insurance Authority (ARSEG) fined BIC Seguros AOA 70,000,000 for AML/CFT violations identified during an off-site inspection for 2024. The infractions included inadequate risk assessments, deficient identification and due diligence, poor record retention, and non-compliance with training requirements.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-06-10UruguayCentral Bank of Uruguay

    Central Bank of Uruguay president calls for economy to adapt to 4.5% inflation objective after meeting targets for first time in two decades

    The Central Bank of Uruguay's president, Guillermo Tolosa, emphasized the importance of firms and households internalizing the bank's 4.5% inflation target to support local-currency credit and investment. He highlighted Uruguay's achievement of its inflation goals for the first time in two decades as a credibility milestone, attributing this to a stronger currency, anchored inflation-targeting, and robust external positions. Tolosa noted reduced inflation sensitivity to US dollar movements and advocated planning based on the 4.5% target to minimize policy rate hikes and economic costs.

    Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
  • 2025-06-10South AfricaNational Credit Regulator

    National Credit Regulator updates departmental contact channels and escalation rules for industry queries and complaints

    The National Credit Regulator (NCR) issued Circular 03 of 2025, updating contact channels for departments to expedite query handling. Registrants should use departmental mailboxes and service channels, reserving personal emails for escalation if responses are delayed. Updated channels cover Debt Counselling, Credit Provider Compliance, Registrations, Call Centre and Complaints, Investigations and Enforcement, and Education and Communication, with specified turnaround times.

    Policy & regulationGuidance & interpretationOther
  • 2025-06-10KosovoCentral Bank of the Republic of Kosovo

    Central Bank of the Republic of Kosovo hosts World Bank supported workshop to prepare the insurance sector for IFRS 17

    The Central Bank of the Republic of Kosovo and the World Bank’s Centre for Financial Reporting Reform held a workshop to enhance financial reporting in the insurance sector, focusing on IFRS 17 and Solvency II. The event aimed to build capacity through knowledge exchange with local and international experts, including regional financial authorities and insurance companies, supported by the World Bank-backed EAASURE programme.

    Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
  • 2025-06-10ItalyMinistry of Finance (Italy)

    Italy's Ministry of Economy and Finance warns of growing crypto-asset use for money laundering and terrorist financing

    Italy's Ministry of Economy and Finance, via Minister Giancarlo Giorgetti, highlighted vulnerabilities in crypto-assets for illicit use, emphasizing priority attention. Giorgetti noted evolving money laundering methods and the Financial Intelligence Unit's role in anti-money laundering and counter-terrorist financing. He stressed international coordination to address these risks and ensure the system's adequacy against technological challenges.

    Policy & regulationReform agendas & prioritiesAML and CFT
  • 2025-06-10Dominican RepublicCentral Bank of the Dominican Republic

    Central Bank of the Dominican Republic meets Citi Bank and highlights foreign-currency inflows and banking sector solvency

    The Central Bank of the Dominican Republic reported on a meeting with Citi Bank, highlighting the country's economic outlook and foreign investment climate. Key indicators included a projected foreign-currency generation of USD 45.9 billion for 2025 and a 12.1% increase in remittances for January–April 2025. Citi Bank plans to facilitate meetings between international investors and Dominican authorities to boost sectoral investments.

    Data & statisticsCapital adequacyFinancial stability and systemic risk
  • 2025-06-10MontenegroCentral Bank of Montenegro

    Central Bank of Montenegro meets AiK Group following approval to acquire a qualified shareholding in Hipotekarna banka

    The Central Bank of Montenegro (CBCG) approved AiK Grupa's acquisition of a qualified shareholding in Hipotekarna banka AD Podgorica after a comprehensive assessment. Discussions between CBCG Governor Irena Radovic and AiK Grupa focused on banking sector stability, responsible governance, and strategic development in Montenegro. AiK Grupa plans to enhance competition and service quality through long-term investment and adherence to regulatory and ethical standards.

    SupervisionAuthorisations & approvalsCorporate governance
  • 2025-06-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission secures guilty pleas in Telegram-based pump-and-dump market rigging case

    Four individuals have pleaded guilty in the Downing Centre Local Court to criminal charges related to a scheme to inflate Australian share prices and sell at elevated levels via Telegram channels, as reported by the Australian Securities & Investments Commission (ASIC).

    EnforcementInvestigations & enforcement actionsMarket abuse
  • 2025-06-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission charges former BBY chief executive over alleged dishonest ASX communications tied to AUD 192 million Aquila share purchase

    Arunesh Narain Maharaj, former CEO of BBY Limited, appeared in court charged with aiding BBY’s dishonest conduct in a AUD 192 million share acquisition of Aquila Resources Ltd. The charge, under sections 1041G(1) and 1311 of the Corporations Act 2001 and section 11.2(1) of the Criminal Code, carries a maximum penalty of 10 years’ imprisonment or a fine of AUD 765,000. The Commonwealth Director of Public Prosecutions is prosecuting following ASIC's referral. Maharaj faces two other charges from the ongoing BBY investigation.

    EnforcementInvestigations & enforcement actionsMarket abuse
  • 2025-06-10LuxembourgCentral Bank of Luxembourg

    Central Bank of Luxembourg and Deutsche Bundesbank launch first Forum Alternance cross-border youth central banking programme

    The Central Bank of Luxembourg and Deutsche Bundesbank launched "Forum Alternance," a bilingual educational initiative to enhance economic literacy among youth, focusing on central banking in the Eurosystem. The inaugural event involved 70 students from Germany and Luxembourg in immersive sessions on monetary policy, digital payments, and central bank functions. Following positive feedback, the program is set to become an annual event.

    Financial literacy & educationFinancial literacy and education
  • 2025-06-10AngolaAngola Insurance Authority (ARSEG)

    Angola Insurance Authority imposes AOA 70 million AML and CFT fine on BIC Seguros

    The Angola Insurance Authority (ARSEG) fined BIC Seguros, S.A. AOA 70,000,000 after an off-site inspection revealed failures in anti-money laundering and counter-terrorist financing controls for 2024. Deficiencies included inadequate risk assessments, customer identification, due diligence, record-keeping, and training compliance.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-06-10AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission presents general capital markets statistics at Universidade Lusíada de Angola

    The Angola Capital Markets Commission presented the General Statistics of the Capital Markets at an event at Universidade Lusíada de Angola on 6 June. The session aimed to provide Economics students with insights into the Angolan capital market trends and indicators, combining statistical data with a discussion on their relevance to academic research.

    Financial literacy & education
  • 2025-06-10Council of Financial RegulatorsCouncil of Financial Regulators (CoFR)

    Australia's Council of Financial Regulators begins independent review and pauses new work

    Australia's Council of Financial Regulators (CoFR) has initiated an independent review to evaluate its effectiveness and propose strategic improvements, with a final report due in mid-July 2025. The review will focus on CoFR’s structure, governance, and statutory alignment, while ongoing external engagements and regulatory initiatives continue.

    Institutional developmentMandate & organizational structureOrganizational structure
  • 2025-06-10British Virgin IslandsMinistry of Finance (British Virgin Islands)

    Government of the Virgin Islands announces delegation to attend the FATF and MONEYVAL plenary in Strasbourg

    The Virgin Islands Government will attend a joint plenary session of the Financial Action Task Force and MONEYVAL in Strasbourg to discuss international Anti-Money Laundering, Countering the Financing of Terrorism, and Countering Proliferation Financing standards. The delegation will engage in discussions on enhancing the Territory’s financial intelligence use, strengthening sanctions capabilities, and combating international criminal networks. A further statement will be issued post-session.

    Policy & regulationCooperationAML and CFTSupervision process and methodologies
  • 2025-06-10EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority publishes Spotlight on Markets newsletter featuring MiFID II retail investor journey call for evidence and MiCA market abuse guidance

    The European Securities and Markets Authority (ESMA) released its Spotlight on Markets newsletter, highlighting supervisory and policy developments in EU financial markets for April and May. Key topics include evidence-gathering on the retail investor journey under MiFID II, crypto-asset market abuse, and online scams. ESMA urged major online platforms to curb unauthorised financial services promotion and issued guidelines on market abuse under the Market in Crypto Assets Regulation (MiCA).

    Policy & regulationOtherMarket abuse
  • 2025-06-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission starts two-year trial to shorten ASX fast-track IPOs with early offer document review and a retail application no-action position

    ASIC has launched a two-year trial to expedite IPOs on the ASX via a fast-track process. This includes an informal prelodgement review and a class 'no action' position for eligible companies to accept retail applications during the public exposure period. The trial targets listings with a market cap above AUD 100 million and no escrow. ASIC aims to complete reviews within 14 days, minimizing supplementary documents and avoiding exposure period extensions, while retaining stop order authority. This trial is part of broader regulatory changes for Australia's public markets.

    Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
  • 2025-06-10UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market approves draft AML and CFT supervision procedure and clears securities registrations

    The Ukraine National Commission on Securities and Stock Market approved a draft decision for supervising compliance with anti-money laundering and counter-terrorism financing laws by primary financial monitoring entities. It also authorized several market activities, including bond issuances by TO ULF-FINANCE LLC and LLC FC European Debt Recovery Agency, and registered a collective investment share issuance for JSC ZNVCIF UNIVERSAL INVESTMENTS.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-06-10UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market approves updated draft rules for OTC transactions in foreign-currency domestic government bonds

    The Ukraine National Commission on Securities and Stock Market approved an updated draft to regulate over-the-counter transactions in foreign currency-denominated domestic government bonds. Key changes include exemptions for banking institutions, with settlement governed by National Bank of Ukraine regulations, and legal restrictions on selling foreign-currency bonds by legal entities. The Commission plans to re-engage with the National Bank to address these issues and advises market participants to direct disputes to the National Bank.

    Policy & regulationRules & requirementsCross-border payments
  • 2025-06-10NetherlandsDe Nederlandsche Bank

    De Nederlandsche Bank publishes irrevocable instruction requiring Erez Corporate Service to remediate AML gatekeeper shortcomings

    De Nederlandsche Bank (DNB) issued enforcement instructions to Erez Corporate Service B.V. after unsuccessful objections and court proceedings. The enforcement addresses Erez's failures in legal gatekeeper obligations, including customer due diligence and compliance frameworks. DNB found deficiencies in Erez's integrity risk assessments, compliance programmes, and audit functions, requiring corrective measures by specified deadlines.

    EnforcementInvestigations & enforcement actionsKYCCompliance
  • 2025-06-10NetherlandsDutch Authority for the Financial Markets

    Dutch Authority for the Financial Markets adjusts standard living-cost amounts for maximum credit calculations in Caribbean Netherlands from 1 June 2025

    The Dutch Authority for the Financial Markets has updated the standard amounts for calculating the maximum credit in Caribbean Netherlands, effective 1 June 2025. Set in the Financial Markets BES Regulation 2012, these amounts are adjusted annually based on local price indexation, with 2025 reflecting increases of 2.6% on Bonaire, 2.2% on Sint Eustatius, and 2.3% on Saba. The update aids affordability and creditworthiness assessments by standardizing assumptions for consumers' living expenses.

    Policy & regulationRules & requirementsLending
  • 2025-06-10NetherlandsDutch Authority for the Financial Markets

    Dutch Authority for the Financial Markets urges legislative changes on pension data quality, regulated market ownership approvals, audit profession rules and insider transaction reporting

    The Dutch Authority for the Financial Markets proposed legislative changes to enhance financial supervision, focusing on consumer protection and reducing administrative burdens. Key proposals include stricter pension information accuracy standards, threshold bandwidths for market declarations, reintroducing audit regulation approvals, and aligning transaction reporting for listed issuers with EU standards. The legislative letter was sent to the House of Representatives with De Nederlandsche Bank's letter.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-06-10ItalyBank of Italy

    Bank of Italy presents annual 2024 report on the economies of the Autonomous Provinces of Trento and Bolzano

    The Bank of Italy's 2024 regional report shows real GDP growth of 0.7% in Trento and Bolzano, matching the national rate. Consumption increased slightly with recovering incomes and lower inflation, but weak foreign demand and flat investment offset gains. Sector performance varied: manufacturing turnover declined, construction contracted in Trentino, services expanded due to high tourism demand, and bank lending fell amid easing financing conditions and improved credit quality.

    Data & statisticsOther
  • 2025-06-10ItalyBank of Italy

    Bank of Italy annual report finds Basilicata economy contracted 0.2% in 2024 as industry weakened

    The Bank of Italy's annual report on Basilicata reveals economic stagnation in 2024, with a 0.2% decline in real terms due to weaker industrial activity and a contraction in the Melfi automotive district. Despite increased oil production, the extractive sector's value declined due to lower gas prices, while business investment remained weak and construction activity slowed. Employment growth decelerated, household income rose, and lending to households strengthened, but credit to the productive sector declined amid weak demand.

    Data & statisticsOther
  • 2025-06-10ItalyBank of Italy

    Bank of Italy publishes Paolo Angelini opening remarks on post-pandemic developments and challenges in sovereign debt markets

    Deputy Director General Paolo Angelini of the Bank of Italy delivered opening remarks at the 11th International Conference on Sovereign Bond Markets, focusing on post-pandemic developments and challenges. The event, themed "Sovereign Bond Markets: Sailing in Calm and Stormy Waters," was organized in Venice with collaboration from several international financial institutions.

    OtherMonetary policy decisions and developments
  • 2025-06-10ItalyBank of Italy

    Bank of Italy publishes 2024 Friuli Venezia Giulia report showing 0.5% real GDP growth and weaker corporate credit

    The Bank of Italy's annual report on Friuli Venezia Giulia highlighted a 0.5% GDP growth in 2024, supported by consumption and public spending, despite weak external demand. Industrial activity declined, while construction and non-financial private services saw modest growth. Loans to firms decreased, but household lending expanded, with credit quality remaining high despite a slight late-year deterioration.

    ResearchEconomic data and developments
  • 2025-06-10NigeriaNigeria Securities & Exchange Commission

    Nigeria Securities and Exchange Commission warns public to avoid CBEX and ST Technologies International Ltd as unregistered investment operators

    The Nigeria Securities and Exchange Commission warned that CBEX (Crypto Bridge Exchange) and ST Technologies International Ltd are not registered to offer investment services in Nigeria. Reports indicate CBEX demands payments for withdrawals, prompting enforcement actions and collaboration with law enforcement under the Investments and Securities Act 2025. Investors should verify platform registration before transactions.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-06-10ItalyBank of Italy

    Bank of Italy Deputy Governor Paolo Angelini delivers conference welcome address on post-pandemic sovereign debt market challenges

    Bank of Italy Deputy Governor Paolo Angelini delivered the welcome address at the 11th International Conference on Sovereign Bond Markets in Venice. The event, themed “Sovereign Bond Markets: Sailing in Calm and Stormy Waters,” was organized by the Bank of Italy with partners including the Bank of Canada, Deutsche Bundesbank, and the European Central Bank.

    Policy & regulationCooperationOther
  • 2025-06-10EuropeEuropean Banking Authority

    European Banking Authority advises NCAs to defer and streamline PSD2 authorisation for CASPs transacting e-money tokens until 2 March 2026

    The European Banking Authority issued a no-action letter advising against long-term dual authorisation for electronic money token (EMT) transactions under PSD2 and MiCA. It sets interim supervisory expectations for national authorities to limit PSD2 licensing and enforcement, treating certain EMT-related services as payment services only until March 2026. The Opinion clarifies that crypto-to-fiat and crypto-to-crypto exchanges, and intermediation of crypto-asset purchases with EMTs, should not require PSD2 authorisation.

    Policy & regulationGuidance & interpretationPayments and payment systemsRegulatory burden
  • 2025-06-10NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance confirms 1 July 2025 commencement of real estate brokerage reforms and updates brokerage regulations

    Norway's Ministry of Finance will implement amendments to the Real Estate Brokerage Act and related regulations on 1 July 2025, following the Storting's adoption on 8 April 2025. Key changes include a ban on secret bids, stricter broker requirements, and enhanced enforcement tools for the Financial Supervisory Authority of Norway. The Authority must also submit a consultation paper by 14 November 2025 on further regulatory amendments.

    Policy & regulationRules & requirementsOther
  • 2025-06-10LithuaniaBank of Lithuania

    Bank of Lithuania requires crypto-asset service providers to obtain payment institution authorisation for certain electronic money token services by March 2026

    The Bank of Lithuania issued a No Action letter clarifying the interaction between the EU Payment Services Directive (PSD2) and the Markets in Crypto-Assets Regulation (MiCA) for crypto-asset service providers (CASPs) dealing with electronic money tokens (EMTs). From 2 March 2026, CASPs conducting EMT-related activities qualifying as payment services must obtain additional authorisation. The letter outlines EMTs as dual-purpose instruments and provides guidance on authorisation processes, capital requirements, and consumer protection during the transition.

    Policy & regulationGuidance & interpretationLicence approval
  • 2025-06-10LaosBank of the Lao

    Bank of the Lao PDR briefs the National Assembly on 2025 monetary management and projects inflation to fall to single digits by end-2025

    The Bank of the Lao PDR briefed the National Assembly on the 2025 monetary plan, highlighting declining inflation, improved exchange rate stability, and increased export value management through the banking system. The central bank aims to maintain inflation control, exchange rate stability, and enhance foreign-exchange transactions while streamlining credit processes to improve business funding access.

    Monetary policyMonetary policy assessments & outlooksOther
  • 2025-06-10AustraliaAustralian Financial Complaints Authority

    Australian Financial Complaints Authority extends mandatory dispute resolution access to Buy Now Pay Later customers under new credit licensing rules

    From 10 June 2025, Australian consumers using Buy Now Pay Later (BNPL) products can access the Australian Financial Complaints Authority's (AFCA) external dispute resolution service, following BNPL's inclusion under the National Credit Act. This mandates BNPL providers to hold an Australian Credit Licence and comply with responsible lending obligations, credit reporting, and financial hardship response requirements.

    Policy & regulationImplementation, projects & pilotsConsumer and investor protectionComplaints and dispute resolution
  • 2025-06-10Bosnia and HerzegovinaBanking Agency of the Federation of Bosnia and Herzegovina

    Banking Agency of the Federation of Bosnia and Herzegovina and High Judicial and Prosecutorial Council establish institutional cooperation

    The Banking Agency of the Federation of Bosnia and Herzegovina and the High Judicial and Prosecutorial Council of Bosnia and Herzegovina have signed an agreement to enhance institutional cooperation. This initiative aims to strengthen capacity, professionalisation, and transparency, supporting trust in public institutions and the rule of law.

    Institutional developmentCooperation & capacity buildingDomestic cooperation
  • 2025-06-10SwedenRiksbank

    Sveriges Riksbank publishes Financial Stability Council minutes highlighting higher risks and cyber preparedness needs

    Sveriges Riksbank released minutes from the Swedish Financial Stability Council's May 2025 meeting, highlighting increased stability risks despite overall financial system stability. Key concerns include geopolitical and economic uncertainties, particularly U.S. trade policy shifts, and the need for civil preparedness against cyberattacks. The council noted weaker economic recovery prospects and discussed joint crisis exercises and international financial-market cooperation.

    Policy & regulationCooperationFinancial stability and systemic riskGeopolitical risk
  • 2025-06-10AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority directs superannuation trustee boards to review CPS 234 controls and strengthen authentication after credential stuffing attacks

    The Australian Prudential Regulation Authority (APRA) directed Registrable Superannuation Entity (RSE) licensee board chairs to enhance information security and authentication controls due to recent credential stuffing attacks. APRA emphasized compliance with Prudential Standard CPS 234, urging RSEs to self-assess security controls, implement multi-factor authentication for high-risk activities, report significant control weaknesses, and designate Accountable Persons under the Financial Accountability Regime for CPS 234 compliance.

    SupervisionInterventionsCyber resilience
  • 2025-06-10KazakhstanAgency 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 drafts rules for collective restructuring of overdue unsecured consumer loans

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has drafted a Board resolution to establish procedures for reviewing changes to bank loan agreement terms. This includes a mechanism for collective restructuring of overdue debt for individuals with multiple unsecured consumer loans from different creditors.

    Policy & regulationRules & requirementsLendingPrudential risks
  • 2025-06-10KazakhstanAgency 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 drafts rules to introduce collective restructuring of overdue unsecured microcredits

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has drafted a Board resolution to establish rules for amending microcredit agreements, introducing a mechanism for collective restructuring of overdue debt. The draft focuses on citizens with multiple consumer unsecured microcredits from different creditors.

    Policy & regulationRules & requirementsSME financing
  • 2025-06-10Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns public about fraudulent bank websites and phishing scams affecting four banks

    The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites, fake internet banking login screens, and phishing emails involving The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Hang Seng Bank. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords by phone, email, or SMS.

    SupervisionAlertsFraud and scams
  • 2025-06-10United KingdomUK Parliament

    UK Parliament’s Treasury Committee warns HMRC over undisclosed phishing breach affecting 100,000 taxpayers and costing GBP 47 million

    The UK Parliament’s Treasury Committee criticized HM Revenue and Customs (HMRC) for not reporting a breach affecting approximately 100,000 taxpayers, costing around GBP 47 million. The breach was only disclosed on HMRC’s website on the day of a live session. The Association of Chartered Certified Accountants stated it was unaware of the incident before the Committee's hearing on 4 June.

    SupervisionRisk monitoring & watch pointsData protection
  • 2025-06-10United StatesFederal Reserve Bank of Cleveland

    Federal Reserve Bank of Cleveland research finds lower-income households faced higher inflation but gained 4.5 percentage points of purchasing power through 2024

    Research from the Federal Reserve Bank of Cleveland shows postpandemic inflation and wage growth varied by income group. Lower-income households faced the highest inflation but achieved wage gains offsetting price increases by the end of 2024. Households in the bottom and middle 40 percent of the income distribution gained about 4.5 percentage points in purchasing power, while the top 20 percent gained about 3.5 percentage points.

    Research
  • 2025-06-10MexicoCONDUSEF

    Mexico's National Commission for the Protection and Defense of Users of Financial Services alerts on impersonation of 10 SIPRES-registered financial institutions in May 2025

    Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) issued an alert regarding the impersonation of 10 registered financial institutions in May 2025. The impersonation involved unauthorized use of corporate identities to deceive individuals seeking credit. CONDUSEF emphasized the use of the Registry of Financial Service Providers (SIPRES) for verifying legitimate financial service providers.

    SupervisionAlertsFraud and scams
  • 2025-06-10San MarinoCentral Bank of San Marino

    Central Bank of the Republic of San Marino launches consultation on Investor Compensation Fund rules with EUR 20,000 investor cap

    The Central Bank of the Republic of San Marino has launched a public consultation on draft regulations to create an Investor Compensation Fund for the investment services sector, offering protection similar to depositor guarantees. The fund would compensate up to EUR 20,000 per investor when providers enter Administrative Compulsory Liquidation and cannot return client assets. Membership is mandatory for most providers, with funding based on member contributions proportional to protected investments, capped at specific limits.

    Policy & regulationRules & requirementsOther
  • 2025-06-10TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan grants Bima a licence for reinsurance activities

    The National Bank of the Republic of Tajikistan has granted a licence to LLC “Insurance and Reinsurance Organization Bima” for reinsurance activities. This authorization complies with Tajikistan’s licensing and insurance legislation and related regulations.

    SupervisionAuthorisations & approvalsLicensing framework and process
  • 2025-06-10LiberiaCentral Bank of Liberia

    Central Bank of Liberia clarifies court bond directive and confirms pre approval requirements for insurers

    The Central Bank of Liberia said its new court bond directive is not a ban or suspension, but a pre-approval regime for insurers issuing court bonds. Insurers must obtain written clearance, submit certified audited financial statements, and disclose outstanding bonds before issuing new ones. The reform began after the Supreme Court raised concerns that some insurers lacked the capacity to honor appellate bonds.

    Policy & regulationGuidance & interpretationLicensing framework and process
  • 2025-06-10PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines reports March 2025 FDI net inflows fell 27.8% to USD 498 million

    The Central Bank of the Philippines reported a 27.8% year-on-year decline in foreign direct investment (FDI) net inflows to USD 498 million in March 2025, with all major components decreasing. For Q1 2025, net inflows fell 41.1% to USD 1.8 billion compared to Q1 2024. The decline was driven by reduced nonresidents’ net investments in debt instruments and weaker net equity capital inflows, with equity capital mainly from Singapore, Japan, the U.S., South Korea, and Malaysia.

    Data & statisticsBalance of payments and other external statistics
  • 2025-06-10ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision warns that Lucura Versicherungs AG does not issue surety policies to third parties

    IVASS warned about surety bond policies allegedly issued by Lucura Versicherungs AG, clarifying that Lucura doesn't issue such policies outside its corporate group in Italy. Lucura, a Germany-based insurer supervised by BaFin, operates in Italy only as a captive insurer for the BASF group. IVASS advises verifying insurer authorizations through its registers and warning lists.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-06-10VietnamVietnam State Securities Commission

    Vietnam State Securities Commission and Ministry of Finance consult on amendments to reporting requirements for fund managers and securities firms’ branches

    Vietnam’s Ministry of Finance and the Vietnam State Securities Commission released a draft circular for consultation to amend the regulatory reporting regime for securities investment fund management companies and related entities. The draft invites feedback from both domestic and international stakeholders.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-06-10VietnamVietnam State Securities Commission

    Vietnam State Securities Commission instructs listed applicants to pay VND 1,000,000 fee for securities practitioner certificates

    The Vietnam State Securities Commission requires individuals listed in an attached notice to pay a VND 1,000,000 fee for a securities practicing certificate, per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer to the Commission’s accounts at Vietinbank or Vietcombank, or directly at the Commission. Failure to collect the certificate within one year of the fee-payment notice will result in cancellation.

    Policy & regulationRules & requirementsLicensing and supervisory fees
  • 2025-06-10SlovakiaNational Bank of Slovakia

    National Bank of Slovakia sets 2026 supervisory contributions and postpones SIPS connectivity for payment and e-money institutions to 6 October 2025

    The National Bank of Slovakia’s Bank Board approved the 2026 contributions for supervised financial market participants and amended the Slovak Interbank Payment System rules, delaying the connection of payment and electronic money institutions to October 6, 2025. The Board also reviewed a regulatory burden reduction document and approved the issuance of two collector coins, set for sale in September 2025.

    Policy & regulationRules & requirementsLicensing and supervisory fees
  • 2025-06-10SerbiaNational Bank of Serbia

    National Bank of Serbia Governor reports gold reserves above 50 tonnes and projects inflation to return to 3% by year end

    Governor Jorgovanka Tabaković of the National Bank of Serbia highlighted macroeconomic priorities at an investor conference, noting foreign exchange reserves include over 50 tonnes of gold and a focus on dinar-euro exchange rate stability. She reported economic improvements, with fixed investment over 24% of GDP, unemployment reduced to 8.6%, and foreign direct investment averaging EUR 4 billion annually. The Governor discussed cautious monetary policy easing since June 2024 and projected inflation slowing towards a 3% target by year-end.

    Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
  • 2025-06-10AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan warns on unlawful sales of simulated banknotes and reiterates reproduction requirements

    The Central Bank of the Republic of Azerbaijan issued a notice emphasizing that reproductions of banknotes must adhere to specific conditions to avoid being classified as counterfeit. The Bank highlighted that many imitations sold in markets do not meet these requirements, potentially leading to criminal liability under Article 204 of the Criminal Code. The public is urged to report suspected cases to law enforcement or the Central Bank.

    Policy & regulationGuidance & interpretationFraud and scamsCurrency and cash management
  • 2025-06-10AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority publishes issue 192 of its May 2025 periodical

    The Albania Financial Services Authority released issue 192 of its May 2025 periodical, detailing its regulatory, supervisory, and institutional activities. The publication aims to assist consumers and investors in understanding the markets under its supervision.

    Financial literacy & educationOther
  • 2025-06-10GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission issues updated Prospectus Rules effective 1 July 2025 with higher offer threshold and new exemptions

    The Guernsey Financial Services Commission updated its Prospectus Rules, 2025, to clarify requirements and align with international standards. Key changes include exempting Professional Investors from promotions of Category 2 Controlled Investments and raising the prospectus registration offer threshold from 50 to 200 non-Professional Investors. Material exemptions apply to prospectuses of Registered Collective Investment Schemes listed on the London Stock Exchange.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-06-10CanadaOntario Securities Commission

    Ontario Securities Commission reports four-year jail sentence and CAD 22.7 million restitution order for Strike Holdings fraud

    The Ontario Securities Commission announced that Kevin Carmichael has been sentenced to four years in jail for defrauding investors in Strike Holdings Inc., making misleading statements, and trading securities without registration. He was ordered to pay CAD 22.7 million in restitution. The case involved forged bank statements and a debenture raise based on false claims, with investigative support from the Halton Regional Police Service.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-06-10CanadaOntario Securities Commission

    Ontario Securities Commission sets 2025-26 examination priorities spanning artificial intelligence cybersecurity sales practices and the exempt market

    The Ontario Securities Commission's Registration, Inspections and Examinations Division has released its 2025-26 Examination Priorities, highlighting focus areas such as artificial intelligence, cybersecurity, financial institution sales practices, and the exempt market. The initiative aims to enhance compliance oversight and awareness of regulatory obligations in Ontario's capital markets.

    SupervisionSupervision approach, priorities & toolkitCyber resilienceCompliance
  • 2025-06-10PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission welcomes Francis Ed Lim as chairperson with pledge to clear pending applications and streamline requirements

    The Philippine Securities and Exchange Commission has appointed Atty. Francis Ed Lim as its new chairperson, succeeding Emilio B. Aquino. Lim aims to expedite application processing, streamline regulatory requirements, and collaborate with key financial and governmental entities to enhance capital market accessibility. Lim previously served as president and CEO of the Philippine Stock Exchange and as a senior legal counsel at ACCRA Law.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-06-10EuropeEuropean Association of CCP Clearing Houses

    European Association of CCP Clearing Houses urges more centralised EU CCP supervision and streamlined EMIR 3 processes in Commission capital markets consultation

    The European Association of CCP Clearing Houses responded to the European Commission's consultation on EU capital markets integration, advocating for reduced regulatory fragmentation and centralized CCP supervision. It highlights concerns over ESMA's complex draft standards under EMIR 3 and calls for harmonized reporting and incentives for settlement flow migration to TARGET2-Securities. The response supports transforming the Settlement Finality Directive and Financial Collateral Directive into Regulations and expanding protections and eligible collateral under EMIR.

    Policy & regulationReform agendas & prioritiesMarket developmentMarket infrastructure
  • 2025-06-10EuropeEuropean Association of CCP Clearing Houses

    European Association of CCP Clearing Houses profiles Deutsche Börse’s Viktoria Hackenberg on future clearing priorities

    The European Association of CCP Clearing Houses published a career profile and Q&A with Viktoria Hackenberg, Vice-President Regulatory Affairs at Deutsche Börse Group, discussing the future of central clearing. Hackenberg emphasizes balancing a robust regulatory framework with agility to address emerging risks and a shift in Europe's regulatory focus toward growth and competitiveness. The profile also includes her career insights and advice.

    Other
  • 2025-06-10GlobalISDA

    ISDA publishes IQ issue highlighting report that 87.1% of major companies use over-the-counter derivatives

    The International Swaps and Derivatives Association (ISDA) released the June 2025 issue of IQ, highlighting a report on the value of derivatives and their use by firms, with 87.1% of nearly 1,200 major companies using over-the-counter derivatives. The issue also reviews market initiatives like margin requirements for non-cleared derivatives and the LIBOR transition, and recaps ISDA’s 39th Annual General Meeting in Amsterdam.

    ResearchMarket development
  • 2025-06-10CanadaFinancial Transactions and Reports Analysis Centre of Canada

    Financial Transactions and Reports Analysis Centre of Canada imposes CAD 116,160 administrative monetary penalty on Cambrian Credit Union for AML reporting and compliance failures

    FINTRAC imposed a CAD 116,160 penalty on Cambrian Credit Union for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included failures in reporting suspicious transactions and international electronic funds transfers, maintaining compliance policies, and assessing money laundering risks. The penalty has been paid, concluding the proceedings.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-06-10EuropeEuropean Commission

    European Commission updates EU high-risk AML/CFT third-country list adding 10 jurisdictions and removing 8 including the United Arab Emirates

    The European Commission updated its list of high-risk third-country jurisdictions with AML/CFT deficiencies, adding Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela, while removing Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the UAE. This aligns with the Financial Action Task Force's process and involves a technical assessment based on FATF information and bilateral dialogues. Changes take effect after scrutiny by the European Parliament and the Council.

    Policy & regulationRules & requirementsSanctions list update
  • 2025-06-10United StatesU.S. Financial Services Committee

    U.S. Financial Services Committee marks up the CLARITY Act to set a U.S. regulatory framework for digital assets

    The U.S. Financial Services Committee released Chairman French Hill’s statement on the CLARITY Act, aimed at establishing a regulatory framework for U.S. digital assets. The Act clarifies jurisdictional boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission, addressing regulatory uncertainty while promoting innovation and consumer protection. The committee's agenda also included bills on financial institutions, housing, and crowdfunding.

    Policy & regulationRules & requirements
  • 2025-06-10RussiaCentral Bank of Russia

    Central Bank of Russia reports pawnshop lending rose to RUB 302 billion in 2024 on higher gold prices

    The Central Bank of Russia reported that pawnshops issued RUB 302 billion in loans in 2024, driven by rising gold prices, with the number of loan agreements stable at 16.6 million. Gold items were collateral for 94% of loans, and the average loan size rose to RUB 21,000. The report highlights increased digitalisation, with over half of large pawnshop chains offering non-cash loans and online payments.

    Data & statisticsLending
  • 2025-06-10RussiaCentral Bank of Russia

    Central Bank of Russia consults on new capital treatment for PPP project finance with rules planned from October 2026

    The Central Bank of Russia proposed a new regulatory approach to ease banks' capital burden in financing public-private partnership (PPP) projects, allowing for state repayment of loans under certain agreements. The regulation applies to PPP projects involving the Russian Federation or its territories with a national credit rating of at least A, with new rules effective from October 2026.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-06-10RussiaCentral Bank of Russia

    Central Bank of Russia reports higher European Accident Statement payout cap to RUB 200,000 when accident parties disagree

    The Central Bank of Russia announced a new law doubling the maximum compensation under the European Accident Statement for compulsory motor third-party liability insurance to RUB 200,000 when accidents are documented without police involvement and disagreements exist, provided photos are submitted. Existing limits remain unchanged for cases without disagreements. In 2024, the European Accident Statement was used in 40% of reported accidents, with over 80% of compensations below RUB 100,000.

    Policy & regulationRules & requirementsOther
  • 2025-06-10RussiaCentral Bank of Russia

    Central Bank of Russia releases Q1 2025 statistics showing rapid growth in QR and biometric payments as card transactions soften

    The Central Bank of Russia reported a significant increase in cashless transactions using QR codes, e-wallets, and biometric payments, rising by one third year on year to nearly 11 billion in Q1 2025. QR code and biometric payments nearly doubled to 800 million transactions, with purchases exceeding RUB 1.1 trillion. Despite bank cards remaining the primary payment method, their transaction counts declined for the second consecutive quarter.

    Data & statistics
  • 2025-06-10EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority renews Zeila, RSM and Premier registrations in its financial advisers register for three years

    The Egypt Financial Regulatory Authority renewed the registration of Zeila Financial Consultancy for Securities, RSM Financial Consultancy, and Premier Financial Consultancy for three years, allowing them to continue financial valuations and fair value studies. The register, established under FRA Board decision No. 114/2018, includes 57 firms and mandates conditions like licensing, professional risk insurance, and separate accounts. Foreign entities must be supervised by an equivalent regulator, with additional board membership requirements for entities with securities listed on the Egyptian Exchange.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-06-10EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority clears 10 banks and a broker for secondary market trading in government securities and licenses four investment firms

    The Egypt Financial Regulatory Authority's Incorporation and Licensing Committee approved 11 entities, including 10 banks and one securities brokerage, to regularise their status for dealing in government securities and financial instruments in the secondary market. Additionally, the committee licensed four companies for activities such as securities portfolio management, promotion and underwriting of securities offerings, and investment funds activity. These approvals align with the Egypt Financial Regulatory Authority Board Decision No. 232 of 2024 and the Chairman’s Decision No. 394 of 2025.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-06-10EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority approves disclosure report for U for Consumer Finance in first dividend-based ownership broadening listing

    The Egypt Financial Regulatory Authority approved a trading disclosure report for U for Consumer Finance, facilitating its share listing and trading via a dividend distribution mechanism. This first for the Egyptian market allows listing without a public or private offering or capital increase. The FRA emphasized converting indirect to direct ownership and expanding ownership in non-banking financial services, with U for Consumer Finance being the first consumer finance company listed.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-06-10AlbaniaBank of Albania

    Bank of Albania hosts Central Bank of Kosovo delegation to launch cooperation on bank resolution and emergency intervention

    The Bank of Albania hosted representatives from the Central Bank of the Republic of Kosovo for meetings on bank resolution and emergency intervention. Discussions covered Albania’s resolution legal framework, critical function identification, and coordination with domestic and international authorities. The Bank of Albania will support Kosovo in developing its resolution capacities and is open to further cooperation.

    Policy & regulationCooperationRecovery and resolutionDomestic cooperation
  • 2025-06-10NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority identifies governance and risk appetite reporting improvements for SpareBank 1 Nord-Norge

    The Norwegian Financial Supervisory Authority published an inspection report on SpareBank 1 Nord-Norge, highlighting areas for improvement in governance and risk management. Key recommendations include enhancing board involvement in risk appetite, improving risk reporting, and refining ownership governance. The bank plans to address these issues and share the report with its auditor.

    SupervisionReviews, inspections & stress testsRisk managementCorporate governance
  • 2025-06-10VietnamState Bank of Vietnam

    State Bank of Vietnam Region 8 sets end-2025 priorities for 115 People’s Credit Funds and steps up inspections

    The State Bank of Vietnam Region 8 held its inaugural regional conference for People’s Credit Funds (PCFs) in Nghe An, Ha Tinh, and Quang Binh, reviewing 2024 performance and setting 2025 priorities. As of April 2025, the region's 115 PCFs reported over 287,000 members and VND 26,829.3 billion in operating funds. Key 2025 priorities include aligning PCFs with cooperative purposes, implementing restructuring plans, enhancing credit quality, and intensifying inspections to prevent violations.

    SupervisionSupervision approach, priorities & toolkitOther
  • 2025-06-10VietnamState Bank of Vietnam

    State Bank of Vietnam and World Bank agree to deepen cooperation and information sharing to mobilise development finance for Vietnam

    The State Bank of Vietnam and the World Bank agreed to enhance cooperation, positioning the central bank as a key counterpart in mobilizing World Bank resources for Vietnam. The World Bank plans to mobilize USD 130 billion annually for development programs, prioritizing climate action, energy transition, and infrastructure. The State Bank of Vietnam emphasized policy efforts for macroeconomic stability and streamlined procedures for development assistance projects.

    Policy & regulationCooperationCross-border cooperation
  • 2025-06-10VietnamState Bank of Vietnam

    State Bank of Vietnam proposes 1 August 2025 effective date for Credit Institutions Law amendments and will tighten rules for zero interest special loans

    The State Bank of Vietnam's Governor presented a report to the National Assembly on proposed amendments to the Law on Credit Institutions, focusing on "special loans" and bad-debt resolution measures. The amendments include conditions for zero interest, unsecured central bank loans, and procedures for collateral seizure, with safeguards against misuse. The Government proposed the amended law take effect on 1 August 2025, and instructed further review and potential guidance issuance.

    Policy & regulationRules & requirementsOther
  • 2025-06-10VietnamState Bank of Vietnam

    State Bank of Vietnam deputy governor sets priorities for NAPAS to enhance technology and payment system security at its 2025-2030 congress

    The State Bank of Vietnam reported on the second congress of the Party Committee of Vietnam National Payment Corporation (NAPAS) for the 2025-2030 term, where priorities were set, and a new Party Executive Committee was elected. NAPAS's role in Vietnam's cashless payments programme was highlighted, with NAPAS 247 fast transfers comprising 93.6% of transactions in 2024. For 2025-2030, NAPAS aims to expand connectivity and apply AI and Big Data for improved monitoring and risk prevention.

    Institutional developmentLeadership change & appointmentsOther
  • 2025-06-10ChileChile Financial Market Commission

    Chile Financial Market Commission warns of three fake loan providers and files fraud complaints with the Public Prosecutor’s Office

    The Chile Financial Market Commission (CMF) warned about three entities falsely claiming CMF supervision while offering loans and reported them for alleged advance-fee fraud. Financiera Arauco, Big Sky Cooperativa, and Cooperativa de Ahorro y Crédito Principal requested upfront payments for loans that never materialized. The CMF advised the public to use its Fraud Alerts Page to verify supervision and review alerts on unregulated entities.

    SupervisionAlertsFraud and scams
  • 2025-06-10ChileChile Financial Market Commission

    Chile Financial Market Commission warns consumers about 24 unregulated loan apps and plans criminal complaints

    The Chile Financial Market Commission (CMF) issued a warning about 24 unsupervised mobile applications offering allegedly usurious loans, available on platforms like Google Play. The CMF plans to file complaints with the Public Prosecutor’s Office against those responsible. Consumers are advised to use the CMF's Fraud Alerts Page to verify the supervision status of financial service providers.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-06-10NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority identifies severe sustainability disclosure shortcomings at Forte Fondsforvaltning and steps back from planned rectification order

    The Norwegian Financial Supervisory Authority's report on Forte Fondsforvaltning AS revealed significant deficiencies in sustainability-related disclosures for an Article 8 fund under the Disclosure Regulation (EU) 2019/2088. Despite corrective actions, issues like misleading sustainability ratings and inadequate integration of sustainability risks into investment decisions persisted. The authority expects further remediation and has requested the firm to share the report with its auditor and depositary.

    SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
  • 2025-06-10CanadaBritish Columbia Financial Services Authority

    British Columbia Financial Services Authority warns homeowners and buyers on wildfire insurance risks and offers an optional 30-day wildfire clause for home purchases

    The British Columbia Financial Services Authority (BCFSA) issued a consumer alert advising property owners and prospective homebuyers to evaluate wildfire and extreme weather risks and ensure adequate home insurance coverage. The alert highlights an optional BCFSA wildfire clause for Contracts of Purchase and Sale to address insurance and mortgage-financing challenges during active wildfires. BCFSA recommends reviewing policy details, obtaining fire insurance quotes before offers, and considering contingencies with insurers and lenders.

    SupervisionAlertsOther
  • 2025-06-10ThailandMinistry of Finance (Thailand)

    Thailand's Ministry of Finance reports Cabinet approval of draft Securities and Exchange Act amendment for electronic securities

    Thailand's Ministry of Finance announced Cabinet approval of a draft amendment to the Securities and Exchange Act to address electronic securities. The draft, reviewed by the Office of the Council of State, will proceed through the remaining legal process to become law.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-06-10United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission will immediately resume processing registration applications from Swiss-based investment advisers

    The U.S. SEC will resume processing registration applications for Swiss-based investment advisers after discussions with the Swiss Financial Market Supervisory Authority on supervisory access issues, including providing books and records to SEC staff and conducting on-site visits under U.S. and Swiss laws. SEC Chair Paul S. Atkins emphasized prompt consideration for delayed applications.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-06-10United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission announces departure of Investment Management Director Natasha Vij Greiner effective July 4 2025

    The U.S. Securities and Exchange Commission announced that Natasha Vij Greiner will depart as Director of the Division of Investment Management on July 4, 2025, concluding over 23 years at the SEC. Greiner has led the division since March 2024 and previously held senior roles across the agency, earning multiple Chairman’s awards.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-06-10CanadaAlberta Securities Commission

    Alberta Securities Commission expands interim cease trade order to all securities and extends it against GIC Capital and Maljaars Financial respondents

    The Alberta Securities Commission has extended and broadened an interim order against GIC Capital Corp., Maljaars Financial Inc., Jeff Barrie Wilkie, and Robert Jacob Maljaars, prohibiting them from trading in all securities until the enforcement proceeding is resolved. The original order, issued in June 2024, was due to potential contraventions of Alberta securities laws. A Notice of Hearing alleges fraud and non-compliance with the cease trade order, with a hearing date set for July 15, 2025.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-06-10AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority instructs RSE licensees to self-assess CPS 234 controls and strengthen multi-factor authentication after credential stuffing attacks

    The Australian Prudential Regulation Authority has reminded Registrable Superannuation Entity licensee board chairs of their obligations under Prudential Standard CPS 234 Information Security, following credential stuffing attacks. Entities must conduct a self-assessment of security controls, implement multi-factor authentication for high-risk activities, and report any material control weaknesses to APRA.

    Policy & regulationGuidance & interpretationCyber resilience
  • 2025-06-10SwitzerlandSwiss Financial Market Supervisory Authority (FINMA)

    Swiss Financial Market Supervisory Authority and US Securities and Exchange Commission agree examination modalities as SEC restarts processing Swiss Registered Investment Adviser applications

    The Swiss Financial Market Supervisory Authority (FINMA) announced that the US Securities and Exchange Commission (SEC) will resume processing applications from FINMA-supervised Swiss entities seeking to register as Registered Investment Advisers (RIAs) in the US. This follows discussions clarifying examination procedures for Swiss SEC-registered advisers, aligning with Swiss and US regulatory requirements.

    SupervisionAuthorisations & approvalsCross-border cooperation
  • 2025-06-10MoldovaNational Bank of Moldova

    National Bank of Moldova hosts Slovenian delegation to deepen EU-alignment cooperation and CEF-backed institutional learning project

    The National Bank of Moldova hosted a meeting with Slovenia's delegation, led by Deputy Prime Minister Tanja Fajon, to discuss bilateral cooperation and Moldova's alignment with EU standards after joining the Single Euro Payments Area (SEPA). Discussions included Slovenia's transition lessons and support through the Center of Excellence in Finance under the #NBM LearnOrgLab project. The visit is part of Moldova's strategy to enhance dialogue with European institutions for reform and integration into European financial systems.

    Policy & regulationCooperationCross-border cooperation