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2025-04-29•Indonesia•Ministry of Finance (Indonesia)
Indonesia’s Ministry of Finance has formed a committee to appoint the Deputy Chair of the Board of Commissioners of the Indonesia Deposit Insurance Corporation for 2025–2030. Chaired by Finance Minister Sri Mulyani Indrawati, it includes representatives from the government, Bank Indonesia, the Financial Services Authority, and the financial sector. The committee will shortlist candidates for the President, who will forward names to the House of Representatives for final approval.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-04-29•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Dah Sing Bank, Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information by phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-29•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert that the firm on https://chinaskycredit.com is not authorised under the Banking Ordinance to conduct banking or deposit-taking in Hong Kong. The HKMA advises the public to verify the authorisation status of firms claiming HKMA approval before engaging in transactions or sharing personal information.
SupervisionAlertsLicence approval
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2025-04-29•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's Governor submitted the 2024 annual report to the National Assembly, as required by the Bulgarian National Bank Act. The report is available on the bank's website.
Data & statisticsAccounting and financial reporting
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2025-04-29•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released its Lending Statistical Bulletin, detailing aggregate lending data and trends in the banking sector as of 30 September 2024.
Data & statisticsSupervisory data
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2025-04-29•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released a Banking Statistical Bulletin detailing aggregate data on the Island’s banking sector, highlighting quarterly and annual trends as of 30 September 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-29•United Kingdom•UK Parliament
The UK Parliament's Public Accounts Committee report urges HM Revenue & Customs to simplify tax administration, modernize customer service, and update legacy technology to effectively utilize artificial intelligence. Tax collection costs rose by GBP 563 million from 2019-20 to 2023-24, while compliance productivity declined. The report highlights outdated service delivery and calls for integrating taxpayer needs into system design, noting significant costs associated with the Making Tax Digital initiative.
Policy & regulationReform agendas & prioritiesOther
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2025-04-29•United Kingdom•UK Parliament
The UK Parliament’s Treasury Committee report warns that declining cash acceptance could create a two-tier society, impacting vulnerable groups with higher costs for essentials. It calls for improved monitoring of cash acceptance, noting conflicting evidence on current practices and resilience benefits of cash use. The Economic Secretary to the Treasury stated there are no plans to mandate cash acceptance, though MPs suggest it may be necessary if cash users remain unsupported.
Policy & regulationReform agendas & prioritiesCurrency and cash management
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2025-04-29•India•Reserve Bank of India
The Reserve Bank of India amended the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015, extending the period for opening Diamond Dollar Accounts from two to three years. This change is reflected in Schedule II of the principal regulations and is effective from its publication date in the Official Gazette.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-04-29•Europe•European Central Bank
The European Central Bank's Economic Bulletin introduces a new five-year-ahead inflation expectations indicator in its Consumer Expectations Survey, showing long-term expectations remain near the ECB's 2% target despite recent inflation surges. The analysis reveals stable median expectations since 2022 and highlights the importance of monitoring these expectations across different horizons to assess their anchoring during inflation shocks.
Research
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2025-04-29•Europe•European Central Bank
ECB Executive Board member Piero Cipollone noted geopolitical tensions and US tariff hikes are fragmenting the economy, impacting growth, capital flows, and the monetary system. He stressed enhanced monitoring, monetary policy adaptation, international cooperation, and financial stability planning. Cipollone also discussed the ECB's pioneering role in cross-currency settlement services and the euro's potential international expansion with integrated European capital markets.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2025-04-29•United Kingdom•Joint Money Laundering Steering Group
The Joint Money Laundering Steering Group has obtained HM Treasury ministerial approval for its guidance material published in September 2024, October 2023, and July 2023. All revisions are accessible under the "Revisions" tab within "Guidance".
Policy & regulationGuidance & interpretationOther
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2025-04-29•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) detailed the new Complementary Law 213/2025, integrating mutualistic patrimonial protection groups and insurance cooperatives into the National System of Private Insurance. The law expands insurance cooperatives' scope, introduces mutualistic operation administrators, and emphasizes consumer protection and sustainability, with fines up to BRL 35 million for non-compliance. SUSEP also noted mandatory registration for vehicle protection associations and plans for public consultations in future regulations.
Policy & regulationRules & requirements
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2025-04-29•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) achieved 100% "active transparency" per Brazil’s Office of the Comptroller General, proactively disclosing information online to enhance public access and reduce repetitive requests, in line with Brazil’s Access to Information Law. SUSEP's disclosures include financial and institutional information on its website.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-29•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines updated its online list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) for non-resident investments in resident firms, covering changes from April 2020 to December 2022. These BSRDs, related to foreign exchange transactions, should not be used for capital repatriation or earnings remittance.
Policy & regulationImplementation, projects & pilotsLicence withdrawal
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2025-04-29•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) issued guidance to closed complementary pension entities on applying CNPC Resolution 62/2024 regarding the Administrative Management Plan (PGA). The circular clarifies reporting and disclosure requirements, including Article 17 procedures for the 2026 Annual Information Report and public availability of PGA rules and budgets. Entities must amend PGA rules, prepare a multi-year budget, and conduct a feasibility study within a year from 24 March 2025.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-04-29•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has allowed the India International Bullion Exchange to extend trading hours for spot contracts and removed net worth requirements for most customer classes, except Qualified Jewellers and Suppliers. These changes, part of the IFSCA (Bullion Market Regulations), 2025, aim to enhance market participation and facilitate timely bullion and cash deployment.
SupervisionAuthorisations & approvalsMarket development
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2025-04-29•Estonia•Ministry of Finance (Estonia)
The Ministry of Finance (Estonia), with Eesti Pank, the Estonian Financial Supervisory Authority, and the Estonian Banking Association, announced the 2025 Rahatarkuse Vedur awards. Five leaders and four initiatives were honored for advancing financial literacy and personal finance skills in Estonia, with categories including financial literacy promotion and contribution. The event emphasized targeting groups most in need, such as women and vulnerable populations.
Financial literacy & educationFinancial literacy and education
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2025-04-29•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued a supervisory update on the CIMB incident involving unauthorized fund transfers, confirming that affected customers' funds have been restored. CIMB is investigating to prevent future occurrences, with the central bank maintaining engagement and readiness to take necessary actions. Further updates will be communicated by CIMB and the central bank.
SupervisionInterventionsOperational risk and resilienceUnlicensed or unauthorized activity
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2025-04-29•Estonia•Finantsinspektsioon
Finantsinspektsioon has licensed Finterest Eesti OÜ to operate as a credit intermediary, allowing it to issue consumer credit and facilitate credit agreements. The firm's management board includes Eitautas Bartuškevičius and Mihkel Rembel, and it is listed on Finantsinspektsioon’s register of supervised entities.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-29•Estonia•Finantsinspektsioon
The Estonian Financial Supervision Authority, with the Ministry of Finance, the Bank of Estonia, and the Estonian Banking Union, held an awards ceremony to honor contributions to financial literacy in Estonia. Awards were given to Naisinvestorite Klub, Helen Karus, Marko Oolo, and a project in five schools in Lääne-Virumaa. Commendations recognized efforts by the Pesapuu consultation and training centre, Kaidi Kornak, Viivika Vilja, Marin Vallikivi, and Investingwomen/girlsmoneymind.
Financial literacy & educationFinancial literacy and education
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2025-04-29•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on three websites and instructed providers in Italy to block access. This action raises the total number of blocked websites to 235 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers through its online registers before making payments.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-29•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission announced the Ministry of Finance’s Decision 1541/QD-BTC, establishing the schedule of securities-sector service prices for the Vietnam Stock Exchange and its subsidiaries, as well as the Vietnam Securities Depository and Clearing Corporation. The decision is effective immediately.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-29•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) issued an alert regarding counterfeit surety policies linked to ALM. Brand Forsikring A/S, a Denmark-based insurer. IVASS advised caution and urged verification of insurance offers to ensure they are from authorised insurers and intermediaries, directing stakeholders to its website for checks and warnings on counterfeiting and unauthorised entities.
SupervisionAlertsFraud and scams
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2025-04-29•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has selected six fintech firms to participate in its pilot regulatory sandbox, including ECDD Holdings Limited and Emerge Group Limited, to test innovative financial products and services. The selection was based on criteria such as innovation, consumer benefit, low risk, and management experience.
SupervisionInnovation & testingFintech and insurtech
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2025-04-29•Slovakia•National Bank of Slovakia
The National Bank of Slovakia's Bank Board has approved its assessment of domestic systemically important banks, maintaining the list of other systemically important institutions (O-SIIs) and their capital buffer rates for 2026. The O-SII buffer rates will remain at 2.00% for Slovenská sporiteľňa, 1.75% for Všeobecná úverová banka, 1.50% for Tatra banka, 1.25% for Československá obchodná banka, and 0.25% for Prima banka.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-29•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its Economic Bulletin for Q1 2025, noting a significant rise in securities offerings via electronic investment crowdfunding platforms, totaling BRL 0.79 billion. Total securities issuance reached BRL 173 billion, with debentures and notes comprising BRL 107.3 billion. CVM-regulated participants increased by 3.7% year-on-year to 90,423, with investment funds growing 11.5% to BRL 9.91 trillion.
Data & statisticsActivity and performance reporting
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2025-04-29•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has imposed a 60-month ban on Pedro Henrique Cruzeiro Rabelo for irregular securities portfolio management. The decision followed a unanimous vote by the CVM Board, excluding Director Marina Copola due to an institutional engagement. Rabelo may appeal to the National Financial System Appeals Council.
EnforcementInvestigations & enforcement actions
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2025-04-29•Estonia•Central Bank of Estonia
The Central Bank of Estonia has updated its statistics release calendar, confirming the publication of second-quarter 2025 statistics on savings and loan associations on 29 July 2025. These statistics, published monthly with a quarterly summary, cover active associations' assets, loans, deposits, and interest rates.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-29•Albania•Albania Financial Services Authority
The Albania Financial Services Authority’s Board approved regulations on life insurance linked to collective investment undertakings and procedures for debt securities issuance documentation. It registered Banka Credins JSC’s bond offer and confirmed compliance of several entities with Law No. 76/2023 on private pension funds. Amendments to Insig Life JSC’s statute and insurance agent activity were also approved.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-29•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC) conducted a workshop to promote financing through debt securities issuance under the Medium-Term Note Framework. The event, presided over by Sou Socheat, aimed to raise awareness among listed companies, potential issuers, the Cambodia Securities Exchange, and other market participants.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-04-29•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia has appointed Prof. Dr. Amir Shaharuddin and Prof. Dr. Abdul Rahim Abdul Rahman to its Shariah Advisory Council (SAC), increasing its membership to nine. The SAC, chaired by Dato’ Prof. Dr. Ashraf Md Hashim, is the highest authority on Islamic law for financial matters in Malaysia. The appointments are effective from 1 May 2025 to 30 April 2027.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Europe•European Central Bank
The European Central Bank's March Consumer Expectations Survey shows stable perceived inflation over the past year, with increased inflation expectations for the next one and three years, and unchanged five-year expectations. Nominal income growth expectations remained at 1.0%, while expected spending growth decreased to 3.4%. The survey also noted a slight decline in the expected unemployment rate to 10.4% and an increase in expected home price growth to 3.1%.
Data & statisticsEconomic data and developments
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2025-04-29•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji appointed Ms Jacinta Hesaie as Chief Manager of the Economics Group, effective 1 May 2025, where she will lead monetary policy formulation and economic analysis. Ms Hesaie has been with the Bank since 2006 and has served in various roles, including a secondment to the International Monetary Fund.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Saudi Arabia•Saudi Arabia Insurance Authority
Saudi Arabia's Insurance Authority has launched a master's program in actuarial science and insurance and risk management with Bayes Business School and the Financial Academy. The program offers internationally recognized accreditation and aims to strengthen the technical and leadership skills of insurance professionals in the Kingdom.
Financial literacy & educationRisk management
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2025-04-29•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero announced a financing agreement for the Saguling floating solar photovoltaic plant in West Java, Indonesia, under the Just Energy Transition Partnership, with DEG, Proparco, and Standard Chartered committing USD 60 million. Developed by PLN Indonesia Power and ACWA Power, the project aims to reduce carbon emissions by at least 63,100 tonnes annually and serves as a public-private partnership model for future clean energy initiatives.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-04-29•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini announced that Mukuru Financial Services (Pty) Limited will cease operations on 30 June 2025, undertaking a voluntary wind-down under the Bank's supervision. The process aims to be orderly, meeting regulatory requirements while protecting customers and stakeholders. Pending transactions will be honoured during the transition, with further updates provided as necessary.
SupervisionInterventionsRecovery and resolution
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2025-04-29•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Capital Markets Subcommittee held a hearing to scrutinize the influence of proxy advisory firms, particularly ISS and Glass Lewis, on shareholder voting outcomes. Subcommittee Chair Ann Wagner highlighted concerns over market concentration, conflicts of interest, and the impact of proxy advisor recommendations on corporate governance. Wagner urged the SEC to enhance oversight and ensure transparency and accountability in the proxy system.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-04-29•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee’s Subcommittee on Capital Markets examined the influence of proxy advisory firms, focusing on Institutional Shareholder Services and Glass Lewis, which control about 97% of the market. Concerns were raised about their impact on vote outcomes, lack of fiduciary obligations, potential conflicts of interest, and limited transparency. The hearing also addressed issues related to vote execution and control over voting software platforms.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-04-29•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Financial Institutions Subcommittee held a hearing on reforms to enhance bank supervision accountability and interagency coordination. Chair Andy Barr emphasized reducing compliance burdens for community banks and criticized shifts from tailored, risk-based regulation, citing the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act as a model. The hearing also addressed supervisory inconsistency and the need for objective, risk-based metrics in examinations.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-29•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee’s Subcommittee on Financial Institutions held a hearing to assess if bank regulation is overly burdensome and not tailored to firm size and risk. Discussions focused on reforms for fairness, transparency, and accountability, with calls for objective, risk-based metrics in examinations and stronger tailoring of prudential standards. Concerns were raised about the impact on community banks, which play a significant role in small business and agricultural lending.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-29•United Kingdom•HM Treasury
HM Treasury released draft legislation to regulate cryptoasset activities in the UK, extending oversight to firms offering services for assets like Bitcoin and Ethereum. The proposals aim to enhance investor confidence and consumer protection by imposing transparency, consumer protection, and operational resilience standards on crypto firms. Additionally, the update highlights ongoing UK–US collaboration on digital assets through the UK–U.S. Financial Regulatory Working Group.
Policy & regulationRules & requirementsFintech and insurtechConsumer and investor protection
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2025-04-29•United Kingdom•HM Treasury
HM Treasury appointed Julia Black, Anita Kimber, John Ball, and Stéphane Malrait as Non-Executive Directors to the FCA Board, extending Richard Lloyd's term by one year. The appointees bring expertise in financial regulation, technology, pensions, and market innovation, pending vetting and security clearances. The recruitment process was fair and open, per the Office of the Commissioner for Public Appointments regulations.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•United States•U.S. Department of Justice
The U.S. Department of Justice sentenced a former vice president and controller of a NASDAQ-listed consumer goods company to 13 months in prison for an insider trading scheme yielding over USD 1.6 million in profits. Stephen George used non-public information to trade shares and options, resulting in a USD 10,000 fine, over USD 200,000 in restitution, and over USD 1.6 million in forfeiture. The FBI Miami Field Office and the Financial Industry Regulatory Authority assisted in the investigation.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-04-29•Russia•Central Bank of Russia
The Central Bank of Russia appointed Ruslan Baluev as Director of its Information Technology Department, effective 29 April 2025. Baluev has over 14 years of experience at the bank, including serving as Deputy Director of the same department since January 2024.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Russia•Central Bank of Russia
The Central Bank of Russia reported a decline of 0.5 million borrowers in 2024 H2, with total borrowers slightly above 50 million, indicating reduced household over-indebtedness. This trend is attributed to changes in banks' retail lending practices, including smaller and shorter cash loans. Mortgage borrower numbers remained stable at 10.2 million, with fewer long-term mortgages and a reduced reliance on consumer loans for down payments.
ResearchLending
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2025-04-29•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority reviewed Navamedic ASA's financial reporting, identifying significant deficiencies in its 2023 annual and 2024 interim reports regarding loans to Observe Medical ASA. The main loan was credit-impaired in 2023, requiring recognition of expected credit loss under IFRS 9, with disclosure errors under IAS 1, IFRS 7, and IFRS 13. Navamedic has agreed to correct these issues in its 2024 annual financial statements, which the authority has accepted, closing the matter.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2025-04-29•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority's ICT inspection of Sparebanken Øst found significant shortcomings in ICT governance, including inadequate management reporting, elevated key-person risk, and insufficient incident reporting. The report calls for improved independent assurance, business impact analysis, supplier access control, and crisis preparedness. The authority requested the report be shared with the bank’s auditor and board meeting minutes where it is discussed.
SupervisionReviews, inspections & stress testsIT managementOperational risk and resilience
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2025-04-29•Chile•Chile Financial Market Commission
Chile's Financial Market Commission (CMF) chair Solange Berstein presented the 2024 Institutional Public Account, highlighting progress in prudential supervision, market conduct, and development, including Basel III implementation and new Fintech Act responsibilities. The CMF oversees over 8,000 entities, covering 76.5% of Chile’s financial market assets, and received numerous applications under the Fintech Act. Enforcement actions included fines totaling UF 42,159, with ongoing challenges in implementing new laws like the Open Finance System and the Financial System Resilience Act.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-29•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) announced the departure of Amanda L. Olear on May 2 after over 17 years, most recently as Acting Director of the Division of Market Oversight. Olear's tenure included roles such as Director of the Market Participants Division and Associate Director of the Managed Funds Section.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission delisted TERNA ENERGY from the Athens Stock Exchange and revoked licences for an absorbed real estate investment company. It also imposed AML enforcement actions, including a EUR 40,000 fine on XBITS OU and de-registration from its registers. Additional fines were levied on several firms for failing to submit required AML auditor assessment reports.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-04-29•Egypt•Central Bank of Egypt
Central Bank of Egypt Governor Hassan Abdalla met with a Beijing delegation led by Vice Mayor Sun Shuo to enhance bilateral relations and economic cooperation. Discussions included collaboration within China's Belt and Road initiative framework.
Policy & regulationCooperationCross-border cooperation
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2025-04-29•United States•U.S. Securities & Exchange Commission
The U.S. SEC filed a civil complaint against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner for a Ponzi scheme raising at least USD 91 million from over 200 investors. Run through Vanguard Holdings Group Irrevocable Trust, it falsely promised high returns and misappropriated funds for personal use. The SEC seeks permanent injunctions, disgorgement, and civil penalties for antifraud and registration violations.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-04-29•United States•Office of the Comptroller of the Currency
Acting Comptroller of the Currency Rodney E. Hood highlighted the Office of the Comptroller of the Currency's efforts to ensure ethical and responsible use of artificial intelligence and other technologies by banks. He also discussed promoting innovation through Project REACh during his remarks at the National Fair Housing Alliance’s Responsible AI Symposium.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-04-29•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration head Li Yunze and Hong Kong Monetary Authority Chief Executive Eddie Yue discussed economic and financial developments, bilateral supervisory cooperation, and support for Hong Kong as an international financial centre.
SupervisionCooperationCross-border cooperation
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2025-04-29•Asia•Eurasian Group (EAG)
The Eurasian Group secretariat took part in a Vienna seminar on implementing the revised FATF standards under Recommendation 8. Discussions covered the recommendation's core concepts and implementation practice, with the secretariat highlighting the need to reflect member states' national legal frameworks.
Policy & regulationCooperationAML and CFT
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2025-04-29•Macao•Monetary Authority of Macao
The Monetary Authority of Macao and the Macao SAR Government’s Legal and Judicial Training Centre hosted a seminar for judges and prosecutors on bond market supervision and development trends. Experts from AMCM and Hong Kong shared insights on Macao's bond market evolution, supervisory frameworks, and practical case studies. Future training sessions are planned to meet the growing demand for integrated financial and legal expertise as Macao's financial sector diversifies.
Policy & regulationGuidance & interpretationMarket development
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2025-04-29•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) cautioned against "opinion trading platforms" that facilitate trades based on yes or no event outcomes and are outside SEBI's regulatory scope. SEBI clarified these platforms are not recognized stock exchanges and are neither registered nor regulated by SEBI, warning that trading on them would be illegal if the opinions qualify as securities. SEBI advised recognized stock exchanges to take action, emphasizing that investor protection mechanisms do not apply to these trades.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-29•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis of Greenland's economy highlights slowed growth, persistent capacity pressures, and the need for ambitious reforms to address labour shortages and future-proof public finances. Fishing remains a key economic driver, though its support is waning, with seafood export values declining and shrimp quotas reduced. The 2025 Finance Act projects a DKK 130 million deficit, with rising risk exposure and long-term sustainability challenges due to demographic shifts.
ResearchEconomic data and developments
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2025-04-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released March 2025 financial statistics for the insurance industry, noting a pre-tax profit of TWD 93.1 billion. Life insurers' pre-tax profit fell 11.6% year-on-year to TWD 84.9 billion, while non-life insurers' profit decreased 11.8% to TWD 8.2 billion. The Taiwan dollar depreciated 1.21% against the US dollar, with life insurers' foreign exchange valuation reserve increasing to TWD 283.6 billion, despite a net loss of TWD 49.9 billion from exchange and hedging activities.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that premium revenues from new foreign-currency denominated life insurance policies reached TWD 67.354 billion by end-February 2025, marking a 41% year-on-year increase. Investment-linked products accounted for TWD 9.42 billion, a 122% rise, while traditional products totaled TWD 57.934 billion, up 33%.
Data & statisticsFinancial and market indicators
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2025-04-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported Q1 2025 data on life insurers' sales of spillover-effect and in-kind payment insurance products, revealing contrasting trends. Spillover-effect products saw an 18% decline in new contracts but a 110% increase in first-year premium income. In contrast, in-kind payment products experienced a 58% rise in new contracts but a 62% drop in first-year premium income.
Data & statisticsSales and distribution
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2025-04-29•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) released its Annual Funding Statement for defined benefit schemes, noting improved funding levels and a shift from deficit recovery to endgame planning. TPR reports 54% of schemes are in surplus on a buyout basis, expecting 80% to meet the Fast Track approach, reducing regulatory engagement. The statement also covers employer covenant assessments, potential surplus release requests, and upcoming digital tools for scheme valuation submissions.
Policy & regulationGuidance & interpretation
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2025-04-29•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) has initiated six consultations to implement the EU’s Insurance Recovery and Resolution Directive (IRRD). The consultations propose draft regulatory technical standards and guidelines on recovery and resolution planning, insurer resolvability assessment, and criteria for identifying critical functions. These efforts are essential for the IRRD's practical application, set to become operational in 2027.
Policy & regulationRules & requirementsRecovery and resolution
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2025-04-28•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) has initiated an administrative investigation into Ekopak NV's compliance with market information obligations. The Investigations Officer will conduct the investigation, which may lead to adversarial proceedings, a settlement, or case closure. The FSMA will inform the Public Prosecutor if charges constitute a criminal offence and will update the market as permitted by professional secrecy.
SupervisionReviews, inspections & stress testsCompliance
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2025-04-28•Mexico•Central Bank of Mexico
The Central Bank of Mexico reported an operating surplus of MXN 17,994.8 million for fiscal year 2024, to be transferred to the Federal Government. Net income was MXN 836,766.8 million, with MXN 737,539.8 million used to amortise past losses and MXN 81,232.2 million added to the capital reserve. The financial statements were audited by an independent auditor approved by the Ministry of Finance and the Chamber of Deputies’ oversight body.
OtherActivity and performance reporting
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2025-04-28•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's President, Ovidio Reyes, is attending the 2025 IMF and World Bank Spring Meetings to discuss Nicaragua's work agenda and economic issues. Reyes met with IMF officials, including the Mission Chief for Nicaragua, and attended sessions with the IMF constituency represented by Brazil and the World Bank Vice President for Latin America and the Caribbean. He will also hold a bilateral meeting with IMF officials to discuss Nicaragua's economic situation and the 2025 agenda.
Policy & regulationCooperationCross-border cooperation
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2025-04-28•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's first-quarter 2025 Remittances Report reveals a 26.3% year-on-year increase in inbound remittances, totaling USD 1,441.3 million. The United States remains the largest source, contributing USD 1,208.0 million, while Managua leads in receiving, accounting for 25.7% of remittances. Average remittance value rose 8.8% to USD 264.3, with transaction numbers up 16.1%.
Data & statisticsBalance of payments and other external statistics
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2025-04-28•Uruguay•Central Bank of Uruguay
Central Bank of Uruguay President Guillermo Tolosa, at the IMF and World Bank Spring Meetings, emphasized achieving a 4.5% inflation target more symmetrically, transitioning from an inflation range to a specific target. He reaffirmed the policy interest rate as the primary monetary tool and highlighted efforts to enhance central bank independence and refine the inflation targeting regime. Tolosa noted public support from President Yamandú Orsi and stressed improved macroeconomic coordination to support disinflation.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-04-28•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo, with the EU Office in Kosovo and the Croatian National Bank, is enhancing Kosovo's framework to combat counterfeit currency. This includes a draft legal framework aligned with EU standards, national centres for counterfeit analysis, and a shared information system. Efforts are also underway to ratify the International Convention for the Suppression of Counterfeiting Currency to bolster international cooperation.
Policy & regulationRules & requirementsAML and CFT
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2025-04-28•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority has approved Arabian Pipes Company's capital increase from SAR 150 million to SAR 200 million through the issuance of bonus shares. The increase will be executed by issuing one bonus share for every three existing shares, funded by transferring SAR 50 million from retained earnings. An extraordinary general assembly must be held within six months, and all regulatory requirements must be met.
SupervisionAuthorisations & approvalsCapital adequacy
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2025-04-28•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Tamawal to offer finance aggregation services, raising the number of authorised providers to six. This move aligns with SAMA's goals to enhance financial sector efficiency and promote innovative solutions for financial inclusion. SAMA advises customers to engage only with authorised institutions, referencing its register of licensed entities.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-28•Israel•Bank of Israel
The Bank of Israel confirmed that the NIS 200 banknote will remain in circulation, as no professional justification has been presented to the Governor to warrant its cancellation. Suggestions to cancel the note lack proper presentation and coordination with the Bank and are unlikely to be implemented.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-04-28•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) is hosting the IAIS Regional Seminar for Sub-Saharan Africa from 28 April to 2 May. Co-organised with the International Association of Insurance Supervisors and the Financial Stability Institute, the seminar focuses on "Inclusive and Sustainable Insurance Markets in Sub-Saharan Africa."
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-04-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) cancelled Viridian Equity Group Pty Ltd's financial services licence after the Compensation Scheme of Last Resort (CSLR) paid AUD 450,000 for unpaid Australian Financial Complaints Authority (AFCA) determinations. ASIC's action on 17 April 2025 was mandatory, as CSLR requires licence cancellation when compensation is paid for unpaid AFCA determinations. Since CSLR's inception, ASIC has cancelled five AFS licences and four credit licences.
EnforcementSanctions & designationsOther
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2025-04-28•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market processed approximately 100 citizen requests via its hotline this quarter, offering consultations on topics such as general meetings of joint stock companies and securities ownership. The NSSMC aims for prompt issue resolution or referral to appropriate authorities.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-04-28•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has licensed Tamawal to offer finance aggregation services, increasing the total number of such licensed companies in Saudi Arabia to six. This move aligns with SAMA's strategy to enhance financial sector efficiency and promote innovative solutions for financial inclusion. SAMA also emphasized the importance of engaging only with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-28•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia updated its statistics agenda, receiving positive feedback from the IMF on data quality and alignment with the IMF’s Special Data Dissemination Standard Plus. The Bank is enhancing public communication, expanding its financial accounts dataset, and improving data transmission timelines to meet EU standards. Efforts continue to digitize reporting, simplify cross-border payment reporting, and develop methodological improvements for remittances with the IMF.
Data & statisticsBalance of payments and other external statisticsSupervisory data
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2025-04-28•China•Central Bank of the Republic of China
The People's Bank of China highlighted the need for IMF governance reform during a meeting between Governor Pan Gongsheng and IMF Managing Director Kristalina Georgieva. Pan emphasized accelerating adjustments to members’ quota shares to better reflect global economic weights and enhance emerging market representation. He also stressed the importance of advancing multilateral cooperation to maintain global economic stability.
Policy & regulationInternational standards & recommendationsCross-border cooperation
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2025-04-28•Indonesia•Bank Indonesia
Bank of Indonesia's Q1 2025 Banking Survey indicates continued positive growth in new loan disbursements, though at a moderated pace from Q4 2024, with a Weighted Net Balance (WNB) of 55.07%. Lending standards eased, reflected in a Lending Standards Index (LSI) of -1.32, and are expected to remain loose in Q2 2025. Respondents anticipate accelerated disbursements in Q2 with a WNB of 81.99% and are optimistic about credit growth through end-2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-28•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) has commenced the spring session of its virtual International Fellows Program, celebrating its 20th anniversary with 202 insurance regulators from 37 jurisdictions. The program, running through May 12, focuses on the U.S. state-based insurance regulatory system and includes 24 lectures by NAIC experts. Participants represent diverse regions, including Africa, Asia, and Europe.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-04-28•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority released a consultation paper on proposed Corporate Service Provider Business Rules 2025 to enhance oversight and transparency, aligning with international standards. Key proposals include mandatory annual and quarterly returns, minimum net asset requirements of $12,000 for limited licences and $50,000 for unlimited licences, and stringent client money safeguards. The BMA aims to finalize and implement these rules following the consultation and legislative amendments.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-28•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) reviewed its 2020–2024 Strategic Plan, highlighting advancements in risk-based supervision, consumer support, and digital transformation. Key initiatives include integrating sustainable finance and AI into risk matrices, enhancing consumer protection through a new complaints-handling system, and launching digital platforms like the Operators Portal. ASF plans to introduce a Statistics Portal in early 2025.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-04-28•Portugal•Bank of Portugal
The Bank of Portugal revised its framework for identifying Other Systemically Important Institutions (O-SIIs) and setting the O-SII capital buffer, effective January 2026. The updated methodology raises the O-SII buffer cap from 2% to 3% and aligns with the European Central Bank's floor methodology. It also considers structural changes in the Portuguese banking system, like increased EU banking group presence and decreased regional concentration.
Policy & regulationRules & requirementsCapital adequacyFinancial stability and systemic risk
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2025-04-28•Finland•Bank of Finland
The Bank of Finland’s Institute for Emerging Economies (BOFIT) forecasts a gradual slowdown in China's GDP growth to 3.5% in 2025 and 2026, and 3% in 2027, citing structural constraints, weak confidence, and trade uncertainty. The report highlights issues in the real estate sector, subdued consumer confidence, and potential impacts from the US–China trade war. BOFIT anticipates additional policy stimulus but warns of widening public sector imbalances and challenges in meeting China's growth target for 2025.
ResearchEconomic data and developments
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2025-04-28•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) released Edition 6 of its Systemic Issues Insights Report, highlighting systemic issues resolved in the first half of FY24-25, impacting over 187,000 consumers and resulting in more than AUD 3.1 million in refunds. The report identifies sector-wide improvement opportunities, such as enhancing scams responses and customer support, and reducing insurance claims handling delays.
SupervisionRisk monitoring & watch pointsConsumer and investor protection
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2025-04-28•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia outlined its macroeconomic reform programme during a "Governor’s Talk" at the 2025 IMF-World Bank Spring Meetings. Key reforms include adopting a price-based monetary policy framework, transitioning to a market-determined exchange rate, and enhancing financial sector resilience and transparency. Early results show reduced inflation, improved foreign exchange reserves, and strengthened external sector stability.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-04-28•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS amended the Private Pension System to expedite pension access. Changes include faster disability and survivors’ pension processes, preliminary payments during beneficiary validation, and streamlined insurer-funded contribution liquidation. The amendments also enhance funeral expense claims flexibility and expand eligibility for beneficiaries studying abroad.
Policy & regulationRules & requirements
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2025-04-28•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission fined Interactive Brokers Hong Kong Limited HKD 4.2 million for mishandling client assets due to expired standing authorities. The breaches, affecting 7,911 clients, occurred between December 2017 and October 2020 and were attributed to a programming error. The sanction considered the firm's remedial actions, self-reporting, and cooperation, with no evidence of client loss or deliberate misconduct.
EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
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2025-04-28•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan discussed a draft Law on Credit Rating Agencies to establish rules for rating activities and protect stakeholders. Aligned with international practices, it addresses principles for rating activity, agency requirements, and conflict-of-interest management. Deputy Chair Maria Khadzhieva emphasized its role in enhancing credit risk assessment, transparency, and ESG mechanisms while reducing reliance on international agencies.
Policy & regulationRules & requirementsCredit ratings
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2025-04-28•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) published its Year in Review 2024 report, detailing activities, achievements, and the new Strategic Plan for 2025-2029. The 57-page report outlines IAIS's mission, strategy, and role in global financial supervision, and highlights progress across its committees and working groups. It also marks the Association's 30th anniversary with a section on quantifiable deliverables.
Policy & regulationReform agendas & prioritiesOther
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2025-04-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has launched an Expert Panel on Project Cargox to enhance the digital trade finance ecosystem by leveraging cargo data. This multi-year initiative aims to streamline trade finance processes, improve SME access to finance, and explore international data partnerships. The panel will produce a roadmap by end-2025 for digitising cargo data and integrating it with the Commercial Data Interchange.
Policy & regulationImplementation, projects & pilots
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2025-04-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and Hong Kong Cyberport Management Company Limited have launched the second cohort of the Generative Artificial Intelligence Sandbox. This initiative offers a risk-controlled environment for banks to develop AI solutions, focusing on risk management, anti-fraud measures, and customer experience. The programme also includes workshops to address AI-related risks, such as deepfake-enabled scams.
SupervisionInnovation & testingArtificial intelligence
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2025-04-28•India•Reserve Bank of India
The Reserve Bank of India has mandated banks and White Label ATM Operators to ensure ATMs dispense INR 100 and INR 200 notes to enhance public access. By 30 September 2025, 75% of ATMs must comply, increasing to 90% by 31 March 2026.
Policy & regulationRules & requirementsCurrency and cash management
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2025-04-28•India•Reserve Bank of India
Starting 1 May 2025, the Reserve Bank of India requires all regulated entities to submit applications for regulatory authorisations, licences, and approvals exclusively through PRAVAAH, its centralised web-based portal. This applies to banks, co-operative banks, All-India financial institutions, non-banking financial companies, primary dealers, non-bank payment system operators, and credit information companies. Despite PRAVAAH facilitating nearly 4,000 applications since its launch, some submissions continue outside the portal, which the RBI aims to address.
Policy & regulationRules & requirementsLicence approval
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2025-04-28•Middle East•Arab Monetary Fund
The Arab Monetary Fund stressed the importance of integrating people with disabilities and vulnerable groups into the formal financial system for sustainable development and social justice on Arab Financial Inclusion Day 2025. The AMF highlighted enabling policies, awareness campaigns, and digital technologies in expanding access to financial services, noting varying inclusion rates across the Arab region and ongoing efforts with central banks to address challenges and foster inclusive growth.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-04-28•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait commended Kuwaiti banks for their role in the 2024 "Diraya" banking awareness campaign, which enhanced financial education through digital outreach and targeted initiatives. Governor Basel A. Al-Haroon acknowledged strong participation from banks like Kuwait Finance House and the National Bank of Kuwait in raising public awareness on financial topics, including electronic fraud.
Financial literacy & educationFinancial literacy and education
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2025-04-28•Europe•European Central Bank
The European Central Bank's digital euro project prompted feedback from the European Banking Federation (EBF) and EuroCommerce on its integration into the payment ecosystem. The EBF emphasizes a simple fee structure for a viable business case for payment service providers, while EuroCommerce advocates for a shared, open payment infrastructure prioritizing basic transactions. Both stress the importance of standardization and a phased approach to feature inclusion to support adoption.
Policy & regulationOtherCBDC
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2025-04-28•Europe•European Central Bank
The European Central Bank and Eurostat released revised euro area sector accounts for Q4 2024, showing stable net saving at €838 billion and a decline in net non-financial investment to €434 billion. Euro area net lending remained steady at €431 billion, with households increasing net lending to €579 billion, while non-financial corporations' net lending decreased to €173 billion. Household leverage improved, with the debt-to-income ratio dropping to 82.1% and the debt-to-GDP ratio to 51.5%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-28•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of Tajikistan's chairman, Firdavs Tolibzoda, met with the Industrial and Commercial Bank of China and the World Bank’s Reserve Advisory and Management Partnership during the IMF and World Bank Group Spring Meetings. They discussed expanding cooperation in treasury services, correspondent banking, asset and reserve management, and staff capacity building. Potential advisory technical assistance and investment in high-quality financial instruments were also explored.
Institutional developmentCooperation & capacity buildingCross-border cooperation