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  • 2025-04-11Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns public about fraudulent Bank of East Asia websites and internet banking login screens

    The Hong Kong Monetary Authority issued a public alert about fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who have shared personal information or conducted transactions on these fraudulent platforms should contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-04-11Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority alerts public to fraudulent Chong Hing Bank websites and internet banking login screens

    The Hong Kong Monetary Authority (HKMA) issued an alert following reports from Chong Hing Bank Limited about fraudulent websites and internet banking login screens. The HKMA reminded the public that banks will not request sensitive information or direct customers to websites via SMS or email hyperlinks. Affected individuals are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-04-11United StatesFederal Reserve Bank of Kansas City

    Federal Reserve Bank of Kansas City releases first-quarter Tenth District Energy Survey showing slight rise in energy activity and expansionary expectations

    The Federal Reserve Bank of Kansas City's first-quarter Tenth District Energy Survey noted a slight increase in regional energy activity with expectations for continued expansion. Drilling and business activity grew modestly, driven by stronger oil and gas prices, although revenues and profits declined. The survey includes diffusion indexes on drilling, capital spending, and employment, with firms projecting future oil and gas prices.

    Data & statisticsEconomic data and developments
  • 2025-04-11ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission coordinates with Bangkok Metropolitan Administration to expedite insurance checks and claims after earthquake building collapse

    The Thailand Office of Insurance Commission (OIC) is working with the Bangkok Metropolitan Administration and police to expedite insurance payouts for victims of an earthquake-related building collapse. The OIC is coordinating with local authorities to verify identities and insurance entitlements through the Insurance Bureau System, ensuring prompt claims processing. Relatives can request insurance checks via a 24-hour hotline.

    SupervisionInterventionsOther
  • 2025-04-11ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission updates premium reserve rules for short-term insurance to apply UPR and URR test by underwriting class

    The Thailand Office of Insurance Commission has updated the methodology for calculating premium reserves for short-term insurance contracts, requiring insurers to assess the higher of Unearned Premium Reserve (UPR) and Unexpired Risk Reserve (URR) for each underwriting class. This change aims to better reflect risk by business type, reduce insufficient reserves, and enhance transparency and supervisory monitoring. These changes have been approved in principle following stakeholder consultation.

    Policy & regulationRules & requirementsPrudential risksAccounting and financial reporting
  • 2025-04-11MexicoCONDUSEF

    Mexico's National Commission for the Protection and Defense of Users of Financial Services reports 3,105 complaints in Colima in 2024 and MXN 16 million recovered

    Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) reported a 33.6% decrease in complaints in Colima for 2024, with 3,105 complaints, and 561 in early 2025. Credit cards, special credit reports, and debit cards were the most complained-about products, with unrecognised transactions and credit history issues as leading causes. The multiple banking sector accounted for 52.8% of complaints, with 46.6% resolved in favor of users in 2024.

    Data & statisticsComplaints and dispute resolution
  • 2025-04-11Middle EastArab Monetary Fund

    Arab Monetary Fund publishes 2024 annual report outlining strategic direction, organisational updates and USD 1.033 billion of Arab Trade Financing Program transactions

    The Arab Monetary Fund's 2024 Annual Report, approved by its Board of Governors, outlines new strategic directions, updates to its organisational structure, and details financial and technical activities, including USD 1.033 billion in trade financing and 75 training programs with over 2,336 participants. The report also highlights the Buna regional payments platform's role in connecting Arab banking systems with global partners.

    Institutional developmentMandate & organizational structureOther
  • 2025-04-11EuropeEuropean Central Bank

    European Central Bank publishes weekly financial statement as total assets fall to EUR 6.33tn on lower monetary policy securities holdings

    The European Central Bank's weekly consolidated financial statement reported total assets and liabilities of EUR 6,329,821 million, a decrease of EUR 8,353 million from the previous week. Key changes included a reduction in securities held for monetary policy purposes by EUR 15,690 million and a decrease in liabilities to euro area credit institutions by EUR 12,008 million. Banknotes in circulation increased by EUR 2,719 million.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-11TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan discusses expanded banking supervision and payments cooperation with the Central Bank of Uzbekistan

    Gulbahor Naziri, deputy chair of the National Bank of Tajikistan, met with Timur Ishmetov, Chair of Uzbekistan's Central Bank, to enhance banking cooperation. Discussions included implementing regulatory agreements, supervising payment services, expanding correspondent banking, financial inclusion strategies, national payment card systems cooperation, and experience-sharing initiatives.

    Policy & regulationCooperationCross-border cooperation
  • 2025-04-11BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance lays out phased 2025 rulemaking to implement newly enacted insurance sector laws

    The Brazilian Superintendence of Private Insurance (SUSEP) announced a phased rulemaking programme in 2025 to implement two new laws impacting the insurance market. Superintendent Alessandro Octaviani emphasized Law 15.040/2024 for legal certainty and Complementary Law 213/2025 for market competition. The programme includes internal discussions, stakeholder meetings, and public consultations, focusing on consumer protection and new entrant supervision.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-04-11BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance meets Finance Ministry and insurers to discuss green bonds, carbon credits and rural and catastrophe insurance

    The Brazilian Superintendence of Private Insurance (SUSEP) participated in a meeting with Brazil’s Ministry of Finance and insurance market representatives in São Paulo. Discussions focused on green bonds, carbon credits, rural insurance, and social catastrophe insurance.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-04-11BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance publishes final working group report to support a National Policy for Access to Insurance

    The Brazilian Superintendence of Private Insurance (SUSEP) released its Working Group's final report on a National Policy for Access to Insurance, recommending enhancements to regulatory frameworks and expanded insurance access in Brazil. The report identifies market growth barriers and proposes strategies to increase accessibility for individuals and businesses. SUSEP emphasized this policy will remain a supervisory priority and will continue to accept feedback.

    Policy & regulationReform agendas & prioritiesOther
  • 2025-04-11GermanyBaFin

    Germany's Federal Financial Supervisory Authority expects insurers to conclude consumer claims within one month

    Germany's Federal Financial Supervisory Authority said insurers should generally conclude consumer claims within one month of notification in average cases where the policyholder has fully cooperated. It said staff shortages or high claims volumes do not justify persistent delays, although more complex cases may take longer. BaFin can take supervisory action where delays amount to deficiencies.

    SupervisionInterventionsComplaints and dispute resolution
  • 2025-04-11PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines instructs banks not to honor lost Bangko Sentral Registration Document for ICAP Management Services’ USD 199,960 investment

    The Central Bank of the Philippines has issued a circular to authorized agent banks and related entities, advising that BSRD No. A001129-DS, linked to ICAP Management Services Limited's foreign direct investment, is lost and should not be honored for foreign exchange transactions. This directive is in accordance with Section 38 of the Manual of Regulations on Foreign Exchange Transactions.

    Policy & regulationGuidance & interpretationLicence withdrawal
  • 2025-04-11PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines revises peso FX derivatives rules and adds quarterly compliance certification for NDF activity

    The Central Bank of the Philippines has amended foreign exchange regulations, tightening controls on peso FX derivatives and streamlining documentation via expanded electronic submission. Authorized agent banks can only transact FX derivatives for hedging eligible exposures, with notional amounts capped by the underlying exposure. The framework includes updated reporting requirements, documentary standards, and settlement rules, with specific provisions for peso settlement and tenor limits.

    Policy & regulationRules & requirementsForeign exchange policy and markets
  • 2025-04-11BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority PREVIC joins London sustainable finance regulatory mission and holds bilateral talks with UK pension bodies ahead of COP 30

    The Brazilian Pension Funds Authority (PREVIC) joined an international mission in London on financial services regulation and sustainable finance, organized by the British Consulate in Brazil. Discussions focused on regulation's role in promoting sustainability and ecological transition ahead of COP 30. PREVIC's Director-Superintendent Ricardo Pena engaged in bilateral meetings to explore partnerships and shared insights on pension sector models.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-04-11ArubaCentral Bank of Aruba

    Central Bank of Aruba publishes 2024 Q4 Ease of Lending Survey showing more cautious bank lending sentiment

    The Central Bank of Aruba's Ease of Lending Survey for 2024 Q4 shows a decline in bank credit sentiment, with the unweighted credit conditions index dropping to 101.7 from 102.2. Individual lending sentiment turned pessimistic, while business loan conditions remained stable. Despite lower new consumer credit and housing mortgage values, banks anticipate improved credit conditions in 2025 Q1, with the future conditions index rising to 102.4.

    Data & statisticsLending
  • 2025-04-11New ZealandNew Zealand Financial Markets Authority

    New Zealand Financial Markets Authority files criminal charge against former adviser Prem Gounder over alleged false gifting certificate

    The New Zealand Financial Markets Authority has filed a criminal charge against former financial adviser Prem Gounder for dishonestly using a document under section 228 of the Crimes Act 1961, alleging he submitted a false gifting certificate for a home loan application. The investigation into Mr. Gounder’s conduct and associated persons is ongoing.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-04-11PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission launches consultation on rules and operational guidelines for crypto-asset service providers

    The Philippine Securities and Exchange Commission seeks comments on draft rules for Crypto-Asset Service Providers, proposing a licensing, conduct, and disclosure framework. The rules treat crypto-assets as financial products, requiring SEC licenses and authorizations, and mandate disclosure documents for public offerings. They include marketing restrictions, joint liability for providers and marketers, AMLA compliance, and outline SEC enforcement powers.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-04-11GermanyGerman Bundesbank

    German Bundesbank publishes February 2025 balance of payments showing current account surplus rising to EUR 20.0bn

    The German Bundesbank reported a current account surplus of EUR 20.0bn for February 2025, an increase of EUR 5.0bn from January, driven by a stronger goods trade balance. The goods trade surplus widened to EUR 19.4bn, notably due to higher exports to the United States. Net capital exports declined to EUR 6.3bn, with significant portfolio investment net outflows and increased Bundesbank TARGET claims.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-11EstoniaCentral Bank of Estonia

    Central Bank of Estonia publishes monthly balance of payments flash estimate and schedules Q1 2025 release for 11 June 2025

    The Central Bank of Estonia released its monthly flash estimate of the balance of payments for the previous month, with the quarterly balance of payments set for publication on 11 June 2025. The monthly estimate is based on limited data and subject to revision upon quarterly release, which uses comprehensive primary data sources. Statistical releases are distinct from economic policy announcements.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-11SerbiaNational Bank of Serbia

    National Bank of Serbia reports March decline in foreign exchange reserves and net EUR 210 million FX sales to support dinar stability

    The National Bank of Serbia reported a decline in gross foreign exchange reserves to EUR 28,527.4 million and net reserves to EUR 24,026.6 million by the end of March. The dinar remained stable against the euro in March but weakened by 0.2% year to date. Interbank FX market turnover in March was EUR 670.2 million, with the NBS selling EUR 210 million net.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-11AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan holds media training on macroprudential policy and the countercyclical capital buffer

    The Central Bank of the Republic of Azerbaijan conducted a training session for media representatives on the macroprudential policy framework and countercyclical capital buffer. The session covered the principles of macroprudential policy, systemic risks, and objectives, along with details on the new countercyclical capital buffer requirement for banks.

    Financial literacy & education
  • 2025-04-11AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority approves Sigal Uniqa Group Austria statute amendment and influential participation by new shareholder

    The Albania Financial Services Authority Board approved an amendment to Sigal Uniqa Group Austria sh.a.'s statute to reflect a change in its shareholding structure. The Board also authorized the influential participation of the company's new shareholder.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-04-11PolandMinistry of Finance (Poland)

    Poland's Ministry of Finance reports on informal ECOFIN discussions on US tariffs and capital markets integration

    Poland's Ministry of Finance summarized the first day of the informal ECOFIN meeting in Warsaw, where EU finance ministers and central bank governors discussed competitiveness and geopolitical risks, focusing on US tariff policy changes. The meeting addressed maintaining a common EU response through trade defence and diplomacy, and improving financial markets' competitiveness by integrating capital markets. Valdis Dombrovskis noted the EU would suspend its first package of countermeasures to allow negotiations, while keeping options open if talks fail.

    Policy & regulationCooperationGeopolitical risk
  • 2025-04-11MontenegroCentral Bank of Montenegro

    Central Bank of Montenegro applies to join SEPA payment schemes with international payments targeted for 6 October 2025

    The Central Bank of Montenegro has applied to the European Payments Council to join the Single Euro Payments Area (SEPA) payment schemes, aiming to enhance Montenegro's cross-border payment efficiency. This follows Montenegro's inclusion in the SEPA geographical area in November 2024. The bank anticipates that SEPA integration will facilitate faster, cheaper, and safer international payments from 6 October 2025.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-04-11CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario submits total cost and performance reporting rule for segregated fund contracts for ministerial approval

    The Financial Services Regulatory Authority of Ontario submitted its Total Cost Reporting Rule to the Ontario Minister of Finance for approval. The rule mandates insurers provide enhanced annual statements on total costs and investment performance for segregated fund contracts, aligning with securities sector standards. Two exceptions were added to mitigate implementation costs, requiring insurers to meet specific conditions and submit attestations to FSRA.

    Policy & regulationRules & requirementsDisclosures
  • 2025-04-11PolandCentral Bank of Poland

    Central Bank of Poland reports Poland’s current account turned to a PLN 0.9bn deficit in February 2025 on weaker goods trade and a larger primary income shortfall

    The Central Bank of Poland reported a current account deficit of PLN 0.9bn in February 2025, contrasting with a PLN 7.1bn surplus in February 2024. The services account remained in surplus at PLN 14.5bn, but deficits in goods trade, primary income, and secondary income offset this. Notably, goods trade saw a deficit of PLN 3.8bn, with significant export declines in the automotive sector.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-11ThailandThailand Securities & Exchange Commission

    Thailand Securities and Exchange Commission approves SET amendments excluding non-SET100 shares from short selling and maintaining the Uptick Rule

    The Thailand Securities and Exchange Commission approved amendments to the Stock Exchange of Thailand's trading regulations to enhance oversight by tightening short selling rules. The changes exclude Non-SET100 Index securities from short selling and mandate compliance with the Uptick Rule, requiring short selling prices to be above the latest trading price. These regulations will be effective from 16 April 2025, with ongoing monitoring by the SEC and SET.

    Policy & regulationRules & requirementsTrading
  • 2025-04-11ThailandThailand Securities & Exchange Commission

    Thailand Securities and Exchange Commission files criminal complaint against Boon Vanasin over allegedly misleading statements about pledged Thonburi Healthcare Group shares

    The Thailand Securities and Exchange Commission (SEC) filed a criminal complaint against Mr. Boon Vanasin for allegedly making false statements about Thonburi Healthcare Group Public Company Limited (THG) shares. The SEC's investigation revealed inconsistencies in Mr. Vanasin's claims regarding the pledging of THG shares, potentially impacting securities prices and investment decisions. The case has been reported to the Anti-Money Laundering Office as it involves unfair securities trading, a predicate offence under the Anti-Money Laundering Act.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-04-11United KingdomHM Treasury

    HM Treasury reappoints Nikhil Rathi as Financial Conduct Authority chief executive for a second five-year term to September 2030

    HM Treasury has reappointed Nikhil Rathi as CEO of the Financial Conduct Authority (FCA) for a second five-year term. The Chancellor emphasizes the FCA's role in supporting government growth while maintaining consumer protection and market integrity, focusing on international competitiveness and reducing regulatory burdens. Rathi highlights the FCA's commitment to growth, smarter regulation, and targeted reforms, alongside ongoing priorities in consumer outcomes and market integrity.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-04-11United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs Democrats launch Substack newsletter featuring Warren’s warning on emergency powers and tariffs

    Democrats on the U.S. Senate Committee on Banking, Housing, and Urban Affairs launched a Substack newsletter to explain financial issues and promote economic fairness policies. The inaugural post by Ranking Member Elizabeth Warren warns that the Trump Administration's emergency powers and tariff agenda could destabilize the economy. The newsletter serves as a platform for committee members and experts to discuss economic policy priorities.

    Financial literacy & educationOther
  • 2025-04-11United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs minority urges state attorneys general to investigate possible insider trading and market manipulation around tariff policy reversals

    Democratic leaders on the U.S. Senate Banking Committee urged the National Association of Attorneys General to investigate potential insider trading or market manipulation by President Trump and others related to recent tariff policy changes. They cite market fluctuations following tariff announcements and Trump's social media posts, suggesting possible state law violations on fraud and corruption. The senators call for prosecution of any proven misconduct under state law.

    EnforcementInvestigations & enforcement actionsMarket abuse
  • 2025-04-11United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs Democrats seek Federal Reserve plan to safeguard data integrity for inflation and jobs decisions

    Senators Elizabeth Warren and Raphael Warnock queried Federal Reserve Chair Jerome Powell on safeguarding the integrity of economic data for policy decisions. They expressed concerns over Trump Administration actions that may compromise data independence and reliability, including dismantling advisory committees. The letter seeks clarification on the Federal Reserve's data vetting protocols and the impact of these changes on its dual mandate.

    OtherEconomic data and developments
  • 2025-04-11United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs members urge SEC to investigate possible tariff-related market manipulation and insider trading

    U.S. Senate Banking Committee members, led by Elizabeth Warren, urged the SEC to investigate potential securities law violations by President Trump and insiders related to tariff announcements. The inquiry focuses on possible insider trading and market manipulation, including trading ahead of a tariff pause announcement. Concerns were also raised about how SEC budget cuts might impact its enforcement capabilities.

    EnforcementInvestigations & enforcement actionsMarket abuse
  • 2025-04-11United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs chair introduces Credit Access and Inclusion Act to add rent and utility payments to credit reporting

    The U.S. Senate Committee on Banking, Housing and Urban Affairs announced the Credit Access and Inclusion Act by Chairman Tim Scott. The bill aims to expand credit access for consumers with limited credit histories by allowing property owners and utility providers to report payment data to credit agencies. This measure targets "credit invisible" consumers, potentially generating credit scores for about 26 million Americans without traditional credit records.

    Policy & regulationRules & requirementsCredit risk
  • 2025-04-11Saudi ArabiaSaudi Arabia Insurance Authority

    Saudi Arabia Insurance Authority publishes first-quarter 2025 complaints index for health and vehicle insurance

    The Saudi Arabia Insurance Authority published first-quarter 2025 complaint rates per 10,000 insured individuals for health and vehicle insurance. Policyholders and beneficiaries may escalate complaints if an insurer does not resolve them or respond within five business days after all requirements are met.

    Data & statisticsComplaints and dispute resolutionConsumer and investor protection
  • 2025-04-11EuropeEuropean Payments Council

    European Payments Council opens participation call for first-phase pilot of EPC Directory Service supporting Verification Of Payee

    The European Payments Council has initiated a call for participation in the first phase of the pilot for its EPC Directory Service, aimed at enhancing cross-border interoperability for the API-based Verification Of Payee scheme. The pilot, starting in May 2025, will prepare participants for the scheme's official launch on 5 October 2025. Selected participants will receive feedback and a briefing prior to the pilot's commencement.

    Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
  • 2025-04-11VietnamState Bank of Vietnam

    State Bank of Vietnam joins ASEAN finance ministers and central bank governors as leaders adopt joint statement and back Project Revive review

    The State Bank of Vietnam attended the 12th ASEAN Finance Ministers and Central Bank Governors Meeting in Kuala Lumpur, reaffirming commitments to financial stability and regional integration. Discussions covered financial services liberalization, banking integration, and sustainable finance, with Malaysia prioritizing improved access to finance and enhanced payment connectivity. A dialogue with global financial institutions highlighted risks from US tariffs and economic volatility, emphasizing regional cooperation and domestic reforms.

    Policy & regulationCooperationCross-border cooperation
  • 2025-04-11VietnamState Bank of Vietnam

    State Bank of Vietnam rolls out 2025 banking-sector savings and anti-waste programme with tighter budget and investment controls

    The State Bank of Vietnam convened a conference to implement the 2025 programme on thrift and waste combat, setting measurable savings targets and enhancing oversight through audits. Priorities include reducing non-essential spending, tightening budget management, and embedding thrift practices in audits and inspections. The SBV reported significant 2024 actions, such as excluding non-urgent projects from plans and achieving high public investment disbursement.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-04-11VietnamState Bank of Vietnam

    State Bank of Vietnam highlights Banking Times and FPT launch of Vietnam’s first nationwide online financial education programme for school students

    The State Bank of Vietnam, in collaboration with Banking Times and FPT Group, has announced a nationwide financial education programme for school students as part of the National Financial Inclusion Strategy. The "Smart Finance" initiative aims to enhance personal finance skills for students in grades 1 to 12, targeting 5 million students initially and expanding to 22 million across ASEAN. Banking Times also plans to introduce an AI tool on financial inclusion within two months.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-11VietnamState Bank of Vietnam

    State Bank of Vietnam seeks Deutsche Bank input on international financial centre framework and crypto-asset market pilot

    The State Bank of Vietnam (SBV) met with Deutsche Bank AG to discuss macroeconomic conditions, policy priorities, and cooperation on financial-sector initiatives, including a crypto-asset market pilot and an international financial centre model. SBV emphasized that virtual currencies are not recognized as lawful payment in Vietnam and highlighted ongoing legislative efforts on digital and crypto assets. SBV is committed to implementing a Financial Action Task Force action plan on anti-money laundering, while Deutsche Bank will contribute expertise on international financial centre models.

    Policy & regulationCooperationCross-border cooperation
  • 2025-04-11RussiaCentral Bank of Russia

    Central Bank of Russia cancels IK Title Broker’s depository licence for breaching special economic measures on securities trading

    The Central Bank of Russia has revoked the depository licence of IK Title Broker LLC due to non-compliance with special economic measures under Executive Order No. 138. The licence is void from 11 April 2025, and the firm must cease depository activities, ensuring client asset returns by 11 August 2025.

    SupervisionAuthorisations & approvalsMarket abuse
  • 2025-04-11RussiaCentral Bank of Russia

    Central Bank of Russia reports 2024 credit rating market results and adds tools to improve transparency

    The Central Bank of Russia released an update on the 2024 domestic credit rating agency market, emphasizing enhanced transparency and usability of rating information. The update includes a comparison table of national rating scales and a repository of all rating activities by Russian CRAs.

    Policy & regulationImplementation, projects & pilotsCredit ratings
  • 2025-04-11MoldovaNational Commission for Financial Markets

    Moldova's National Commission for Financial Markets approves takeover offer and MDL 150 million Moldova-Agroindbank bond issue and plans court action over EuroCreditBank clauses

    Moldova's National Commission for Financial Markets (CNPF) approved several capital-market authorizations, including a voluntary takeover offer by Realchimie & CC and new equity and debt issuances. The CNPF also addressed consumer protection issues, finding EuroCreditBank in breach of pre-contractual transparency requirements and ordering Intact Asigurări Generale to regularize a motor insurance claim. Additionally, securities of liquidated issuers were deregistered.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-04-11United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission’s Peirce raises potential guidance and exemptive pilots for crypto trading models

    SEC Commissioner Hester M. Peirce discussed crypto market regulatory challenges at a roundtable, highlighting "pairs trading" and jurisdictional coordination. Peirce noted SEC rules don't prohibit trading securities against crypto assets, but existing regulations may not fully address non-traditional quoting and settlement. She suggested using exemptive authority for limited market testing to guide future rulemaking.

    Policy & regulationReform agendas & prioritiesTrading
  • 2025-04-11United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Acting Chairman Uyeda proposes time-limited conditional exemptive relief to support blockchain-based securities trading

    The U.S. SEC's Acting Chairman, Mark T. Uyeda, addressed regulatory challenges for tokenized securities at the Crypto Task Force’s roundtable. Uyeda discussed potential time-limited, conditional exemptive relief and contrasted state oversight with a possible federal framework for trading tokenized and non-security crypto assets. He highlighted issues with existing securities rules, including the impracticality of Rule 611 compliance and the unsuitability of federal securities laws for blockchain-based trading functions.

    Policy & regulationGuidance & interpretationTrading
  • 2025-04-11ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission launches public consultation on one-year sandbox regime for tokenized securities representations

    The Argentina Securities Commission (CNV) has initiated a public consultation on a proposed tokenization regime for digital representation of publicly offered negotiable securities using distributed ledger technology (DLT). The framework permits digital representation of securities, including shares and corporate bonds, while upholding traditional issuance and deposit requirements. The initiative will run in a one-year regulatory sandbox, with registered virtual asset service providers managing the digital environment.

    Policy & regulationRules & requirementsTokenization
  • 2025-04-11ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission relaxes manager-level limits for foreign-currency qualified investor open-end funds investing only in domestic instruments

    The Argentina Securities Commission (CNV) issued General Resolution No. 1059, amending the regime for open-end mutual funds targeting Qualified Investors. The amendment removes restrictions on foreign-currency denominated funds investing exclusively in Argentine financial instruments, excluding them from the maximum percentage limit for management companies. This updates the framework established by General Resolution No. 1030 in November 2024.

    Policy & regulationRules & requirementsOther
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration launches consultation on revised trust company rules raising minimum capital and reshaping permitted business

    China's National Financial Regulatory Administration has released a draft revision of measures for trust companies, updating the framework established in 2007. The draft focuses on tightening the trustee role, revising permitted activities, and enhancing governance, risk management, and supervisory tools. Key changes include consolidating trust business categories, reinforcing risk principles, and strengthening governance and risk controls.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration issues revised consolidated supervision measures for insurance groups

    China's National Financial Regulatory Administration issued new Measures for the Consolidated Supervision and Management of Insurance Groups, revising guidelines to enhance oversight and risk prevention. The Measures emphasize consolidated management, internal governance, and enterprise-wide risk management, addressing risks like concentration and contagion. They also mandate stronger controls over intragroup transactions and asset-liability management to mitigate leverage risk.

    Policy & regulationRules & requirementsAccounting and financial reporting
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration launches consultation on revised trust company rules to refocus business scope and raise minimum capital

    China's National Financial Regulatory Administration released a draft revision of the Trust Company Management Measures for public consultation. It aims to refocus trust companies on core trustee functions and enhance risk prevention by reframing trust activities, tightening governance, and strengthening supervision. This includes increased capital requirements and comprehensive risk management frameworks. The measures seek to eliminate implicit guarantees by enforcing seller due diligence and buyer risk-bearing principles.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration issues 16-point guidance to tighten oversight and refocus financial asset management companies on risk disposal

    China's National Financial Regulatory Administration issued Guiding Opinions with 16 measures to enhance financial asset management companies' governance, risk prevention, and supervision. The guidance emphasizes stronger Party leadership, improved corporate governance, and focuses on non-performing asset management, especially in small and medium-sized financial institutions and the real estate sector. It aims to strengthen regulatory frameworks, intensify supervision, and improve coordination across oversight channels.

    Policy & regulationGuidance & interpretationCorporate governance
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration issues revised consolidated supervision measures for insurance groups

    China's National Financial Regulatory Administration has introduced measures for consolidated supervision of insurance groups, enhancing oversight and limiting cross-regional, cross-market, and cross-border risk transmission. The measures emphasize core business focus, simplified shareholding structures, clear accountability, strengthened audit oversight, and governance constraints. Risk management provisions include concentration risk indicators, tighter internal transaction controls, and improved risk isolation mechanisms.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-04-11ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration repeals two CBRC notices on bank self-service device risk and internal control compliance

    China's National Financial Regulatory Administration repealed two legacy China Banking Regulatory Commission circulars from 2014 and 2017 to enhance the supervisory framework's timeliness and alignment with industry needs. The administration will continue monitoring regulatory consistency and coordinating the clean-up of normative documents.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-04-11ArgentinaArgentina Superintendency of Insurance

    Argentina Superintendency of Insurance publishes conference synthesis centred on risk-based supervision, AI and regulatory simplification

    Argentina's Superintendency of Insurance (SSN) summarized insights from the 23rd Annual Conference on Insurance Regulation in Latin America, emphasizing AI integration, risk-based supervision, simplified regulations, financial education, and innovative solutions like parametric insurance. The SSN is reviewing to reduce overregulation and enhance anti-money laundering and counter-terrorist financing measures.

    SupervisionSupervision approach, priorities & toolkitSupervision process and methodologiesMarket development
  • 2025-04-11ArgentinaArgentina Superintendency of Insurance

    Argentina Superintendency of Insurance conference hears Economy Minister Caputo call for tax incentives and a larger role for insurance in capital market development

    Argentina’s Superintendency of Insurance highlighted Economy Minister Luis Caputo's keynote at the XXIII Annual Conference on Insurance Regulation in Latin America. Caputo emphasized insurance's role in deepening domestic capital markets and channeling savings into long-term investments, with potential fiscal incentives. He also mentioned an understanding with the International Monetary Fund for a new program, pending approval, including a USD 20 billion disbursement and additional financing from the World Bank, Inter-American Development Bank, and CAF.

    Policy & regulationReform agendas & prioritiesMarket development
  • 2025-04-11ArgentinaArgentina Superintendency of Insurance

    Argentina Superintendency of Insurance outlines regulatory simplification drive and reports revoking four insurers’ operating authorisations

    At the XXIII Annual Conference on Insurance Regulation and Supervision in Latin America, Guillermo Plate, Superintendent of the Argentina Superintendency of Insurance, outlined an agenda to simplify and modernize insurance regulation. He emphasized removing bureaucratic practices, including amending Article 25 of the RGAA to reduce administrative burdens and focus on substantive risks. Plate also noted revoking operating authorizations for four insurers and urged market participants to engage in the reform process.

    Policy & regulationReform agendas & prioritiesRegulatory burden
  • 2025-04-11ArgentinaArgentina Superintendency of Insurance

    Argentina Superintendency of Insurance convenes ASSAL-IAIS 2025 panel on insurers’ contribution to capital markets

    The Argentina Superintendency of Insurance highlighted the XXIII ASSAL-IAIS 2025 Conference on insurance's role in capital market development. Central Bank director Federico Furiase emphasized insurance's potential in enhancing capital efficiency and credit growth, linking it to macroeconomic stabilization. Superintendent Guillermo Plate noted the importance of real investments backing insurance policies, paralleling central bank monetary controls.

    Policy & regulationOtherMarket development
  • 2025-04-11BurundiBank of the Republic of Burundi

    Bank of the Republic of Burundi briefs stakeholders on full financial sector digitisation project due to conclude in November 2025

    The Bank of the Republic of Burundi aims to fully digitise the financial sector by November 2025, focusing on modernising payment systems. The initiative includes upgrading the card switch for full interoperability and establishing a central transaction management system to support various payment channels. The system will accommodate both online and offline transactions, addressing concerns about internet coverage and smartphone access.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-04-11IndiaSecurities & Exchange Board of India

    Securities and Exchange Board of India cautions investors on rising securities scams on social media platforms

    SEBI cautioned about rising securities market frauds on social media, involving fake SEBI registrations and deceptive trading calls. Investors should verify social media authenticity and only deal with SEBI-registered intermediaries, as disputes with unregistered entities aren't covered by SEBI's protection mechanisms. Investors are encouraged to report unregistered entities via SEBI’s Market Intelligence portal.

    SupervisionAlertsFraud and scams
  • 2025-04-11United KingdomThe Pensions Regulator

    United Kingdom's The Pensions Regulator launches saver video campaign urging schemes to get pensions dashboards-ready ahead of October 2026 connection deadline

    The Pensions Regulator (TPR) in the UK launched a campaign with short films to encourage pension schemes to prepare for pensions dashboards, emphasizing accurate, accessible, and digitised member data. While 80% of schemes are on track to meet their dashboard staging dates, 25% still hold non-digital data and outdated pension values. TPR outlined five priority actions for trustees and administrators, including data preparation and increased supervisory focus on data quality.

    SupervisionSupervision approach, priorities & toolkitOther
  • 2025-04-11Trinidad & TobagoTrinidad & Tobago Securities & Exchange Commission

    Trinidad and Tobago Securities and Exchange Commission awards winners of inaugural National Secondary Schools Investing Competition

    The Trinidad and Tobago Securities and Exchange Commission announced winners of its first National Secondary Schools Investing Competition, awarding securities-investment prizes to top students. Alario Andalcio won first place with a $10,000 investment prize, followed by Sydney Look Fong and Antonio Andalcio. TTSEC CEO Kester Guy emphasized the need for collaboration with education stakeholders, proposing a memorandum of understanding with measurable success factors.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-11HondurasCentral Bank of Honduras

    International Monetary Fund reaches staff-level agreement with Honduras on third Extended Credit Facility and Extended Fund Facility review enabling potential USD 155 million disbursement

    The IMF and Honduran authorities reached a staff-level agreement on policies for the third review under Honduras’s Extended Credit Facility and Extended Fund Facility, with IMF Executive Board approval anticipated in June for a potential USD 155 million disbursement. The agreement highlights Honduras's 3.6% growth in 2024, 4.5% inflation within the Central Bank's target range, and increased international reserves. Key policy discussions focused on fiscal prudence, social cash transfers, energy-sector reforms, and anti-corruption measures ahead of the 2026 Financial Action Task Force evaluation.

    Policy & regulationReform agendas & prioritiesEconomic data and developments
  • 2025-04-10GreeceBank of Greece

    Bank of Greece Deputy Governor discusses bank resilience to geopolitical risks and Greek NPL progress at Delphi Economic Forum

    At the 10th Delphi Economic Forum, Bank of Greece Deputy Governor Christina Papaconstantinou and ECB SSM Director-General Korbinian Ibel discussed European and Greek banks' resilience amid rising geopolitical risks. Ibel noted improvements in capital, liquidity, profitability, and asset quality over the past decade. Both highlighted Greek banks' progress in reducing non-performing loans and increasing profitability. Papaconstantinou advocated for further European integration, including completing the Banking Union and Capital Markets Union.

    SupervisionSupervision approach, priorities & toolkitAsset qualityCapital adequacyFinancial stability and systemic risk
  • 2025-04-10IsraelBank of Israel

    Bank of Israel Monetary Committee meets financial forecasters to exchange views on the economic outlook

    The Bank of Israel's Governor Prof. Amir Yaron and the Monetary Committee met with financial forecasters to discuss economic assessments amid the ongoing war, following a presentation by Dr. Osnat Zohar on the central bank's recent assessment and interest rate announcement.

    Monetary policyMonetary policy assessments & outlooksEconomic data and developments
  • 2025-04-10Dominican RepublicPensions Superintendency (SIPEN)

    Dominican Republic's Pensions Superintendency issues guidance for Jet Set tragedy families on survivor pensions and inherited account balances

    The Dominican Republic's Pensions Superintendency (SIPEN) issued guidance for relatives of Jet Set tragedy victims on accessing benefits under the Dominican Pension System. Legal beneficiaries may receive a survivor pension if covered by disability and survivorship insurance, or heirs can claim the deceased's account balance as inheritance without intermediaries. An online tool is available to identify the deceased's pension fund administrator.

    Policy & regulationGuidance & interpretationOther
  • 2025-04-10MontenegroMontenegro Capital Market Authority

    Montenegro Capital Market Authority chair participates in Ljubljana Capital Days conference

    The Montenegro Capital Market Authority's chair, Željko Drinčić, participated in the "Capital Days" conference in Ljubljana, focusing on regional cooperation and capital market development. Hosted by the Slovenia Securities Market Agency, the event featured discussions on Slovenian listed companies, individual investment accounts, and market trends, including increased retail interest in fund investing.

    Policy & regulationCooperationCross-border cooperation
  • 2025-04-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission secures Federal Court order to wind up Falcon Capital and the First Guardian Master Fund

    The Australian Securities & Investments Commission (ASIC) secured Federal Court orders to appoint liquidators for Falcon Capital Limited and its related unregistered subsidiary funds, including the First Guardian Master Fund, due to management and investor risk concerns. A receiver was also appointed for Falcon director David Anderson's property. This follows a February 2025 asset freeze amid ongoing investigations. Falcon had suspended certain transactions since May 2024, with investors reportedly directed to financial advisors recommending superannuation investments in First Guardian funds. The investigation continues, with updates on ASIC's First Guardian Master Fund webpage.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-04-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission reports former Gold Coast property developer pleads guilty to investor fund fraud

    The Australian Securities & Investments Commission (ASIC) reported that former Gold Coast property developer Michael Steele pleaded guilty to four counts of fraud, misappropriating over AUD 1.3 million from 14 investors between May 2016 and February 2017. The funds, intended for a land development in Biggera Waters, Queensland, were used for personal purchases. The case, prosecuted by the Office of the Director of Public Prosecutions after an ASIC investigation, carries a maximum penalty of 12 to 20 years' imprisonment under the Criminal Code (Qld).

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-04-10BahamasBahamas Securities Commission

    Securities Commission of The Bahamas warns Incomemax is unlicensed and shows hallmarks of an unlawful Ponzi scheme

    The Securities Commission of The Bahamas warned that Incomemax Financial Enrollment Investment is not registered or licensed and may be conducting illegal activities. Incomemax solicits cryptocurrency deposits with promises of high returns, resembling a Ponzi scheme. The Commission urged caution and referenced prior notices on the illegality of such schemes under the Financial and Corporate Service Providers Act, 2020.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-04-10MexicoCentral Bank of Mexico

    Central Bank of Mexico projects inflation reaching 3% in 2026 and signals scope for further rate cuts

    In Senate testimony, the Central Bank of Mexico outlined its strategy to return inflation to the 3% target, reducing the policy rate from 11.25% to 9.00% through several cuts. The bank projects headline inflation reaching 3% by Q3 2026 amid economic slowdown and trade tensions. It also reported the financial system's strong capitalisation and liquidity, with measures to enhance competition and transparency, including a credit application platform and significant payroll-portability requests.

    Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
  • 2025-04-10EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority publishes MiFIR Review draft standards to simplify transparency reporting and update SI and trading venue requirements

    The European Securities and Markets Authority released a final report with three draft technical standards under the MiFIR Review, focusing on simplification and burden reduction. Key updates include changes to the single volume cap, transparency calculations, and a new qualitative regime for Systematic Internalisers. The report aligns circuit breaker rules with the Digital Operational Resilience Act (DORA) framework and has been submitted to the European Commission for endorsement.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-04-10EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority publishes final technical standards on investment firms’ order execution policies and effectiveness assessments

    The European Securities and Markets Authority (ESMA) published a Final Report with draft Regulatory Technical Standards on investment firms' order execution policies to enhance execution and investor protection. The standards outline requirements for policy design, financial instrument classification, venue selection, and monitoring effectiveness. The report has been submitted to the European Commission, with ESMA offering further guidance if necessary.

    Policy & regulationRules & requirementsTrading
  • 2025-04-10DenmarkDanish Finanstilsynet

    Danish Financial Supervisory Authority reinforces requirement that insurers use only authorised insurance intermediaries

    The Danish Financial Supervisory Authority now requires insurers to engage only authorised intermediaries, after finding two of twelve lacked authorisation. Insurers must verify authorisation via the authority's public register. The Insurance Mediation Act mandates authorisation for all mediation activities, with non-compliance subject to regulatory orders.

    Policy & regulationGuidance & interpretationLicensing framework and process
  • 2025-04-10FranceFrance Autorite des marches financiers

    France's Financial Markets Authority and Prudential Supervision and Resolution Authority add 15 forex and 8 crypto-asset derivatives sites to warning lists

    France's Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) issued a joint warning and updated their blacklists of unauthorised websites offering unregulated forex and crypto-asset derivatives in France. Since early 2025, 15 forex and 8 crypto-asset derivatives sites have been added. Investors are advised to verify firm authorisation via official registers and the AMF list.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-04-10AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on publishing firm-level breach and complaints dashboards from H2 2025

    The Australian Securities & Investments Commission (ASIC) has initiated consultation CP 383 to propose publishing two public dashboards with firm-level Reportable Situations and Internal Dispute Resolution complaints data by late 2025. This aims to enhance transparency, accountability, and compliance by highlighting significant breaches and complaints. The consultation seeks feedback on these proposals, building on ASIC's previous insights, with submissions due by 14 May 2025.

    Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
  • 2025-04-10BotswanaBank of Botswana

    Bank of Botswana asks Dafritech depositors to claim funds after High Court order on illegal deposit-taking

    The Bank of Botswana has issued a public notice for depositors with Dafritech (Pty) Ltd to claim their funds following a court-ordered transfer of deposits to the central bank. This action follows a High Court ruling that Dafritech engaged in illegal deposit-taking, violating the Banking Act. Claimants must provide proof of identity and deposit, while representatives must show documentary proof of representation.

    EnforcementInvestigations & enforcement actionsProcurement
  • 2025-04-10UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market holds second study visit with Germany's Federal Financial Supervisory Authority on electronic securities and distributed ledger technology

    The Ukraine National Commission on Securities and Stock Market reported on its delegation's visit to Germany's Federal Financial Supervisory Authority, focusing on electronic securities and digital financial infrastructure. Discussions highlighted distributed ledger technologies and regulatory exchanges. The Commission linked this cooperation to harmonising with International Organization of Securities Commissions principles and joining the IOSCO Multilateral Memorandum of Understanding.

    Policy & regulationCooperationCross-border cooperationMarket development
  • 2025-04-10AngolaMinistry of Finance (Angola)

    Angola's Ministry of Finance outlines higher capital and responsibility requirements under new insurance mediation regime

    Angola's Ministry of Finance highlighted the strategic role of insurance intermediaries and stricter market entry expectations under the new legal regime. Since 2019, supervisory enhancements include a dedicated regulatory structure and Law No. 6/24, which strengthens institutional robustness and imposes higher capital and organizational requirements. ARSEG reported AOA 112.1 billion of the AOA 473.7 billion in 2024 premiums were generated through insurance mediation.

    Policy & regulationRules & requirementsSupervision process and methodologies
  • 2025-04-10PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan consults on draft reforms to streamline public offerings and reduce IPO processing time to 14 working days

    The Securities and Exchange Commission of Pakistan has released draft amendments for public consultation to streamline the framework for public offers of shares, debt securities, and REIT units. Key proposals include reducing IPO processing time, enhancing disclosure requirements, and reforming book building to encourage underwriter participation. The amendments also introduce technology measures like QR codes, electronic signatures, and a transition to e-IPO applications.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-04-10ItalyBank of Italy

    Bank of Italy opens call for papers for October 2025 conference on monetary policy and heterogeneity using microdata

    The Bank of Italy, in collaboration with Collegio Carlo Alberto–University of Turin and Norges Bank, has announced a call for papers for a conference on monetary policy and heterogeneity in households, firms, and financial intermediaries. The conference, drawing on microdata insights, will be held in Rome on 13–14 October 2025. It will explore new modelling approaches and empirical evidence related to heterogeneity in economic behaviour.

    ResearchOther
  • 2025-04-10North MacedoniaNational Bank of the Republic of North Macedonia

    National Bank of the Republic of North Macedonia sets October 2025 pathway for banks to join SEPA and simplifies cross-border payment procedures

    The National Bank of the Republic of North Macedonia anticipates domestic banks will connect to the Single Euro Payments Area (SEPA) by October 2025, enhancing cross-border euro payment efficiency. The central bank is overseeing banks' alignment with European standards and plans to simplify procedures for capital and inbound transactions. It aims for faster, cost-effective transfers, with banks expected to reduce fees for customers.

    Policy & regulationRules & requirementsCross-border payments
  • 2025-04-10ChinaCentral Bank of the Republic of China

    People's Bank of China launches second-round online reservations and exchanges for 2025 commemorative coins and banknotes

    The People's Bank of China announced a second round of online reservations and exchanges for commemorative coins and a banknote, including the Northeast Tiger and Leopard National Park and Peking Opera Art coins. Participating banks will manage online reservations from 6 to 7 May 2025, with exchanges from 9 to 13 May 2025 at designated branches. Customers must present valid identity documents, with specific per-person limits and provisions for proxy exchanges.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-04-10IrelandDepartment of Finance (Ireland)

    Ireland's Department of Finance announces Minister Donohoe will chair April Eurogroup and attend Informal ECOFIN in Warsaw

    Ireland's Department of Finance announced that Minister for Finance and Eurogroup President Paschal Donohoe will chair the Eurogroup and participate in the Informal Economic and Financial Affairs Council meeting in Warsaw. Discussions will focus on economic developments, fiscal conditions, and euro area policy coordination amid global volatility, with input from European Parliament Economic and Monetary Affairs Committee Chair Aurore Lalucq. The Informal ECOFIN will address trade's macroeconomic impact, European financial market competitiveness, and security and defence financing.

    Policy & regulationCooperationOther
  • 2025-04-10IrelandDepartment of Finance (Ireland)

    Ireland's Department of Finance welcomes Oireachtas passage of Financial Services and Pensions Ombudsman Amendment Bill strengthening consumer protections

    Ireland's Department of Finance announced the passage of the Financial Services and Pensions Ombudsman (Amendment) Bill 2023, enhancing consumer protection by broadening FSPO access for all mortgage holders. The reforms address issues for loans sold before 2015 and between 2015 and 2018, ensuring FSPO protections for customers of financial service providers that have exited the Irish market. The Bill, aligning FSPO functions with constitutional requirements post-Zalewski decision, awaits the President's signature to become law.

    Policy & regulationRules & requirementsMandate change
  • 2025-04-10NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance renotifies 25 percent mortgage risk-weight floor under the full CRR Article 458 procedure

    Norway's Ministry of Finance has revised its notification approach for the mortgage risk-weight floor for internal ratings-based banks, using the process under Article 458(2) to (4) of the Capital Requirements Regulation. The mortgage floor will increase from 20% to 25% effective 1 July 2025, while the commercial real estate floor remains at 35%. The EFTA States' Standing Committee will assess the measure based on recommendations from the EFTA Surveillance Authority, considering input from the European Systemic Risk Board and the European Banking Authority.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-04-10NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance proposes extending the Accountancy Act to confirmation services and clarifying Lawyer Supervisory Authority powers to fine law firms for AML breaches

    Norway's Ministry of Finance proposed a bill to include accountants' confirmation services under the Accountancy Act and clarify fines for law firms breaching the Money Laundering Act. It subjects accounting confirmations to the Financial Supervisory Authority's oversight and confirms the Lawyer Supervisory Authority's mandate to penalize law firms for violations. The proposal is detailed in Proposition 120 L (2024–2025).

    Policy & regulationRules & requirementsAML and CFTAccounting and financial reporting
  • 2025-04-10BermudaBermuda Monetary Authority

    Bermuda Monetary Authority issues recovery planning guidance with USD 10bn asset and USD 5bn premium scope indicators

    The Bermuda Monetary Authority (BMA) issued Guidance Notes for insurers' recovery planning under the Insurance (Prudential Standards) (Recovery Plan) Rules 2024, emphasizing it as a management process to restore financial strength under stress. Formal Recovery Plans are mandated for insurers deemed economically important or systemically significant, with criteria including domestic business and asset or premium thresholds. The guidance outlines plan components such as solvency triggers, governance, recovery options, and communication protocols, with board approval and periodic updates required.

    Policy & regulationGuidance & interpretationRecovery and resolution
  • 2025-04-10BermudaBermuda Monetary Authority

    Bermuda Monetary Authority consults on draft guidance for commercial insurers’ recovery planning

    The Bermuda Monetary Authority has initiated a public consultation on draft Guidance Notes to aid Bermuda commercial insurers in meeting recovery planning requirements. These notes aim to complement the Insurance (Prudential Standards) (Recovery Plan) Rules 2024 by outlining the expected structure and content of a Recovery Plan.

    Policy & regulationGuidance & interpretationRecovery and resolution
  • 2025-04-10United KingdomFinancial Conduct Authority

    Financial Conduct Authority publishes trading-app neo-broker review highlighting product governance, fair value and appropriateness testing weaknesses

    The Financial Conduct Authority (FCA) released findings from a review of trading apps, highlighting positive practices and areas for improvement in product governance, pricing, and digital engagement. The review of 28 firms identified risks with introducer models and emphasized clarifying trading agreements with overseas entities. The FCA expects firms to define target markets, manage conflicts from revenue drivers, ensure fair value, and conduct robust appropriateness tests for complex products.

    SupervisionReviews, inspections & stress testsTrading
  • 2025-04-10PortugalPortuguese Insurance Regulator (ASF)

    Portuguese Insurance Regulator launches questionnaire to assess governance activities at insurers and pension fund management companies

    The Portuguese Insurance Regulator (ASF) released an information note regarding a 2023 questionnaire assessing the activities of management bodies and supporting committees of insurance and pension fund management companies based in Portugal.

    SupervisionRegulatory reportingSupervision process and methodologies