Regxplora • Regulatory and Central Bank Updates • Page 442

2025-04-21MoroccoMoroccan Capital Markets Authority

Moroccan Capital Markets Authority approves Nexans preliminary prospectus for employee share offer of up to 600,000 shares

The Moroccan Capital Markets Authority approved a preliminary prospectus for a NEXANS share offer reserved for group employees, involving a capital increase and/or share transfer of up to 600,000 shares. The offer is available to employees of NEXANS Maroc and SIRMEL, with the reservation period in Morocco from 5 to 22 May 2025. The prospectus includes NEXANS’s universal registration document filed with the French Financial Markets Authority and other key documents.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-04-21ThailandThailand Securities & Exchange Commission

Thailand Securities and Exchange Commission urges TPOLY26NA bondholders to assess proposed default waiver and collateral coverage ratio changes ahead of 24 April vote

The Thailand Securities and Exchange Commission advises holders of Thai Polycons Public Company Limited’s TPOLY26NA bond to review information and exercise their rights before an electronic bondholders’ meeting on 24 April 2025. The meeting will address a proposed waiver of an event of default and amendments to collateral coverage requirements, including a temporary interest rate increase. Bondholders are urged to consult with the issuer and representative before voting.

Policy & regulationGuidance & interpretationCorporate governance

2025-04-21United StatesCommodity Futures Trading Commission

US Commodity Futures Trading Commission seeks comment on potential move to 24/7 trading in CFTC-regulated derivatives markets

The Commodity Futures Trading Commission's Divisions of Market Oversight, Clearing and Risk, and Market Participants are seeking comments on the potential extension of CFTC-regulated derivatives markets to a 24/7 trading basis. The request examines implications for trading, clearing, and risk management, focusing on market integrity, customer protection, and retail trading.

Policy & regulationReform agendas & prioritiesTrading

2025-04-21United StatesCommodity Futures Trading Commission

US Commodity Futures Trading Commission launches request for comment on perpetual derivatives

The Commodity Futures Trading Commission (CFTC) has issued a request for comment on its approach to perpetual contracts in derivatives markets, focusing on their uses, benefits, and risks. The request examines the characteristics of perpetual derivatives and their implications for trading, clearing, and risk management, while also seeking input on market integrity and customer protection concerns.

Policy & regulationRules & requirementsTrading

2025-04-21ArgentinaMinistry of Finance (Argentina)

Argentina's Ministry of Finance confirms Luis Caputo’s participation in the IMF and World Bank Spring Meetings with senior-level bilateral talks

Argentina’s Economy Minister Luis Caputo will attend the IMF and World Bank Spring Meetings in Washington, DC, engaging with IMF, World Bank leaders, and European and Indian counterparts. Caputo will participate in the International Monetary and Financial Committee plenary, G20 sessions, and the IMF and Financial Stability Board Early Warning Exercise. Finance Secretary Pablo Quirno will join meetings with the Inter-American Development Bank and a U.S. Chamber of Commerce event.

OtherCross-border cooperation

2025-04-21United StatesU.S. Securities & Exchange Commission

U.S. Securities and Exchange Commission swears in Paul Atkins as Chair as Mark Uyeda ends his acting tenure

The U.S. Securities and Exchange Commission announced Paul S. Atkins as the new Chairman, succeeding Acting Chairman Mark T. Uyeda. During his tenure, Uyeda established a Crypto Task Force, withdrew certain crypto enforcement actions, and updated guidance on Schedule 13G and the Advisers Act marketing rule. Additional actions included issuing Staff Legal Bulletin 14M, removing personal data from the Consolidated Audit Trail, and extending compliance dates for Treasury securities clearing.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-04-21United StatesU.S. Securities & Exchange Commission

U.S. Securities and Exchange Commission swears in Paul S Atkins as Chairman

The U.S. Securities and Exchange Commission has appointed Paul S. Atkins as its 34th Chairman, following his nomination by President Donald J. Trump and confirmation by the U.S. Senate. Atkins, previously CEO of Patomak Global Partners and an SEC Commissioner, brings extensive experience from roles including independent director at BATS Global Markets and member of the Congressional Oversight Panel for the Troubled Asset Relief Program.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-04-21United StatesU.S. Securities & Exchange Commission

U.S. Securities and Exchange Commission awards approximately USD 6 million to joint whistleblowers for information leading to an examination and enforcement action

The U.S. Securities and Exchange Commission awarded approximately USD 6 million to joint whistleblowers for providing information that initiated an examination and enforcement action. The award is funded by the SEC’s investor protection fund, sourced from sanctions paid by securities law violators. Whistleblowers can receive 10% to 30% of collected sanctions exceeding USD 1 million, with confidentiality protected under the Dodd-Frank Act.

EnforcementWhistleblowing

2025-04-21QatarQatar Financial Markets Authority

Qatar Financial Markets Authority participates in GCC capital market heads meeting on integration strategy and regulatory coordination

The Qatar Financial Markets Authority's CEO, Dr. Tamy bin Ahmad Al-Binali, attended the 30th meeting of the Committee of the Heads of Capital Market Authorities in the Gulf Cooperation Council (GCC) countries. The meeting in Kuwait addressed the GCC Capital Markets Integration Strategy and coordination among GCC regulators, with discussions on artificial intelligence applications and human capital in securities markets.

Policy & regulationCooperationCross-border cooperationArtificial intelligence

2025-04-20PeruCentral Bank of Peru

Central Bank of Peru reports February export growth with traditional exports up 13.6% and non-traditional exports up 20.3%

The Central Bank of Peru reported a 13.6% increase in traditional exports and a 20.3% rise in non-traditional exports in February 2025. Traditional exports, totaling USD 4,675 million, were driven by higher prices, particularly in mining, fishing, natural gas, and oil. Non-traditional exports grew due to increased volumes in agriculture, steel, metal products, and textiles, with Peru achieving the highest regional growth in non-traditional exports over the past year.

Data & statisticsEconomic data and developments

2025-04-20IraqCentral Bank of Iraq

Central Bank of Iraq adopts project to launch a virtual bank in Iraqi universities starting at Al-Muthanna University

The Central Bank of Iraq has initiated a project to establish the first virtual bank hosted by Iraqi universities, starting with Al-Muthanna University, to provide practical banking experience and promote financial inclusion. The initiative was unveiled at Al-Muthanna University's second scientific conference on artificial intelligence and labor market requirements.

Policy & regulationImplementation, projects & pilotsFintech and insurtech

2025-04-20OmanCentral Bank of Oman

Central Bank of Oman upgrades direct debit service and launches electronic authorization with fee waiver

The Central Bank of Oman has enhanced its direct debit service by implementing electronic authorization for mandates through banks' electronic channels, supported by the National Payment Systems Law No. 8/2018. The framework includes legal protections and penalties for misuse, with no fees on direct debit transactions to encourage adoption and reduce cheque usage. Initially soft-launched in 2021, the system is expected to be fully implemented by banks in 2025.

Policy & regulationImplementation, projects & pilotsPayments and payment systems

2025-04-20OmanOman Financial Services Authority

Oman Financial Services Authority launches Dhamani National Health Insurance Platform after successful pilot

The Oman Financial Services Authority launched the National Health Insurance Platform, Dhamani, connecting insurers with healthcare institutions for data exchange and claims processing. It processed about three million transactions in Q1 2025, aiming to streamline settlements, enhance service quality, and improve fraud detection and data security. The authority also highlighted Decision No. 83/2023 and upcoming digital initiatives to advance the sector.

Policy & regulationImplementation, projects & pilotsOther

2025-04-20BahrainCentral Bank of Bahrain

Central Bank of Bahrain Board approves new organizational structure at its second 2025 meeting

The Central Bank of Bahrain's Board of Directors approved a new organizational structure to align with its dual mandate of maintaining financial stability and supporting sector development. The revised structure aims to enhance leadership competencies within the financial sector.

Institutional developmentMandate & organizational structureOrganizational structure

2025-04-20BahrainCentral Bank of Bahrain

Central Bank of Bahrain appoints new executive management team under its new organisational structure

The Central Bank of Bahrain announced executive management appointments to implement its new organisational structure, with roles in central banking, macro-prudential oversight, policy and enforcement, supervision, market development, and corporate services. Yousif Rashid Al-Fadhel will serve as Advisor to the Governor from 20 April 2025. The appointments are linked to the Board of Directors’ decision to adopt the new structure.

Institutional developmentLeadership change & appointmentsLeadership change and appointments

2025-04-19AlgeriaAlgeria Market Authority (COSOB)

Algeria Market Authority supports Jeune Idée caravan to promote financial education and alternative funding for youth

The Algeria Market Authority said it is supporting the Jeune Idée national caravan to promote financial education and economic awareness among young project holders. Its participation focuses on explaining alternative financing options, including capital market financing, private equity and crowdfunding.

Financial literacy & educationFinancial literacy and educationMarket development

2025-04-19EgyptEgypt Financial Regulatory Authority

Egypt Financial Regulatory Authority outlines risk-based strategy for non-banking finance with updates on SPACs, fintech and voluntary carbon market

The Egypt Financial Regulatory Authority outlined priorities for non-banking financial markets, focusing on disciplined growth, financial stability, and participant protection. Key initiatives include reforms to Egyptian Exchange listing rules, fintech market development, and amended investment rules for private insurance funds. The FRA is advancing sustainability infrastructure and nearing completion of a regulatory framework for crowdfunding in real estate and equity fund structures.

Policy & regulationReform agendas & prioritiesMarket developmentFinancial inclusion

2025-04-19VietnamState Bank of Vietnam

State Bank of Vietnam urges Co-opBank to raise capital and strengthen oversight of the People’s Credit Fund system

Deputy Governor Doan Thai Son urged Vietnam Cooperative Bank to modernize operations and support People’s Credit Funds. Priorities include increasing charter capital, upgrading staff, investing in technology, and aligning with the 2024 Law on Credit Institutions. The agenda also emphasizes strengthening internal controls, resolving non-performing loans, and supporting governance and product development for PCFs.

Policy & regulationGuidance & interpretationOther

2025-04-19VietnamState Bank of Vietnam

State Bank of Vietnam pushes banks to fast-track VND 145 trillion social housing lending for Vinh Phuc’s Kira Home project

The State Bank of Vietnam updated on Governor Nguyễn Thị Hồng’s directives at the Kira Home social housing project groundbreaking, urging banks to enhance the social housing credit programme's implementation. The programme, now at VND 145 trillion, is funded by commercial banks and involves four state-owned banks as core lenders. Lending will commence once the Vĩnh Phúc People’s Committee releases the list of eligible projects.

Policy & regulationImplementation, projects & pilotsOther

2025-04-18TanzaniaTanzania Insurance Regulatory Authority

Tanzania Insurance Regulatory Authority runs insurance education seminar for children and youth at CSEE

Tanzania Insurance Regulatory Authority (TIRA) held a seminar for children and youth on insurance education, covering TIRA's mandate, types of insurance, and Tanzania's insurance market status, plus the Universal Health Insurance initiative. TIRA's Eastern Zone office offers registration, licensing, and public insurance education in Dar es Salaam, Pwani, and Morogoro.

Financial literacy & educationFinancial literacy and education

2025-04-18UkraineUkraine National Commission on Securities and Stock Market

Ukraine National Commission on Securities and Stock Market approves multiple collective investment securities issues and rejects KINTO substantial participation increase

The Ukraine National Commission on Securities and Stock Market approved securities issuance and disclosure actions for collective investment funds, including new share issues and prospectus changes. It also appointed a state representative to the National Depository of Ukraine’s electronic AGM, approved an implementation plan for European Commission recommendations, amended prior decisions, and confirmed compliance of AMC UNIVES LLC and FC INTERSVIT LLC with government criteria.

SupervisionAuthorisations & approvalsSecurities offerings and listings

2025-04-18PakistanSecurites & Exchange Commission of Pakistan

Securities and Exchange Commission of Pakistan registers 2,757 new companies in March 2025 with 99.9% processed digitally

The Securities and Exchange Commission of Pakistan reported 2,757 new company registrations in March 2025, with 99.9% processed digitally, raising the total to 249,365. Private limited companies comprised 54% of new registrations, followed by single-member companies at 40%. Information Technology and e-commerce led sector additions, and 73 companies received foreign investment from countries including Australia and China.

Data & statisticsLicensing framework and process

2025-04-18ChinaCentral Bank of the Republic of China

People's Bank of China deputy governor Zhu Hexin visits Japan for talks on macro-financial conditions and financial cooperation

Deputy Governor Zhu Hexin of the People's Bank of China visited Japan to discuss macroeconomic and financial cooperation with Japanese counterparts and China-funded financial institutions.

Policy & regulationCooperationCross-border cooperation

2025-04-18United StatesNational Credit Union Administration

National Credit Union Administration confirms removal of two Board members and asserts it can operate with a single-member quorum

The National Credit Union Administration (NCUA) confirmed that President Donald J. Trump terminated the positions of Board members Todd Harper and Tanya Otsuka, leaving only one Board member. The NCUA assured that it can continue to meet its operational and statutory requirements with a single Board member, citing historical precedent and standing delegations of authority.

Institutional developmentLeadership change & appointmentsLeadership change and appointments