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2025-04-10•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency has imposed measures on AcnTurk Sigorta AŞ and Arex Sigorta AŞ for mismanagement and insurance legislation breaches. AcnTurk Sigorta is barred from new contracts and policy renewals until capital adequacy is restored. Arex Sigorta's surety line licence is cancelled, and it cannot write or renew business in other lines until conditions are met.
SupervisionAuthorisations & approvalsCorporate governance
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2025-04-10•Qatar•Qatar Central Bank
Qatar Central Bank announced that international reserves and foreign currency liquidity reached QAR 2,563 billion in March 2025, with international official reserves rising 4.60% year-on-year to QAR 197.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-04-10•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission and the Thai General Insurance Association held a session to discuss the Enterprise Risk Management and Own Risk Solvency Assessment (ERM-ORSA) framework and gather feedback. The meeting aimed to enhance technical understanding, address practical issues, and align the 2025 ERM-ORSA report template with the notification. It also linked ERM-ORSA implementation to insurers' progress toward "Group 1" status under the new Early Warning System.
SupervisionSupervision approach, priorities & toolkitOther
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2025-04-10•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston's research note reveals increased redemption sensitivity among retail investors in prime money market funds during the 2020 COVID-19 crisis compared to the 2008 Global Financial Crisis. Institutional investors showed consistent behavior across both crises, with similar net outflows. The study attributes changes in retail behavior to enhanced information availability post-U.S. Securities and Exchange Commission reforms, impacting financial-stability assessments.
ResearchMarket risk and volatilityFinancial stability and systemic risk
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2025-04-10•Middle East•Arab Monetary Fund
The Arab Monetary Fund's Director General, Dr. Fahad M. Alturki, engaged with Arab finance ministers and central bank governors in Kuwait to discuss the Fund's strategic directions, technical and financial support, economic reforms, digital transformation, credit rating improvements, and financial inclusion.
Policy & regulationCooperationDomestic cooperation
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2025-04-10•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan's MF251528 credit auction on 10 April 2025 offered TJS 30,000,000, receiving bids of TJS 18,500,000. Both the submitted and weighted-average annual interest rates were 8.85%.
Monetary policyMonetary policy instruments & operationsLiquidity riskPrudential risks
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2025-04-10•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) joined the Ministry of Education's inaugural Consciência e Ação programme meeting, aligning with Brazil’s National Strategy for Financial Education. SUSEP emphasized the Brazilian Financial Education Forum's role in integrating financial education into schools and highlighted the upcoming 12th National Financial Education Week, focusing on youth financial literacy.
Financial literacy & educationFinancial literacy and education
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2025-04-10•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) participated in the European Commission’s expert meeting on medium-term macroeconomic projections for EU candidate countries. The CBBH anticipates revising Bosnia and Herzegovina's projections in the spring, with inflation expected to rise and economic activity to decline compared to autumn 2024 projections. Global factors like potential trade wars and U.S. tariffs, alongside domestic issues such as a wage-inflation spiral, influence these revisions.
Policy & regulationCooperationEconomic data and developments
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2025-04-10•Spain•Bank of Spain
The Bank of Spain's updated Financial Accounts show a 1.6% rise in consolidated debt of non-financial corporations and households to EUR 1.706 trillion in 2024, while the debt-to-GDP ratio fell to 107.2%. Non-financial corporate debt reached EUR 1.0107 trillion, and household debt rose to EUR 695.6 billion, with GDP ratios of 63.5% and 43.7%, respectively. Household gross financial assets grew by 7.5% to EUR 3.132 trillion, raising the GDP ratio to 196.8%, and net financial wealth increased to EUR 2.374 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-10•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 20% decrease in foreign direct investment net inflows to USD 731 million in January 2025, primarily due to a 37.7% drop in nonresidents' net investments in debt instruments. Equity capital turned to net inflows of USD 88 million, with significant contributions from Japan, the United States, Singapore, and Malaysia, directed mainly to manufacturing, financial and insurance, and real estate sectors.
Data & statisticsBalance of payments and other external statistics
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2025-04-10•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam announced that the National Bank of Cambodia has joined the Regional Payment Connectivity initiative, bringing the total number of participating ASEAN central banks to nine. This was formalized during the launch of the second phase of the Malaysia–Cambodia cross-border QR payment linkage. The initiative, established in 2022, aims to enhance cross-border payments to support regional economic activities.
Policy & regulationCooperationCross-border payments
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2025-04-10•United States•New York State Department of Financial Services
The New York State Department of Financial Services ordered Block, Inc. to pay a USD 40 million penalty and appoint an independent monitor due to significant Bank Secrecy Act/Anti-Money Laundering failures on the Cash App platform. The investigation found inadequate customer due diligence, insufficient risk controls, and ineffective transaction monitoring, especially with high-risk Bitcoin transactions. Block has cooperated and committed to addressing these deficiencies.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-04-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered Bravo Assessoria em Investimentos Ltda. and its partner, Iridan Luiz Ribeiro dos Santos, to cease public offerings of investment advisory and securities portfolio management services. The CVM issued a market warning after its Superintendence of Market and Intermediary Relations found the firm was operating without authorization. This action was formalized through CVM Declaratory Act 23,246.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Declaratory Act CVM 23,267, ordering Securcap Securities Limited to cease public offerings of securities intermediation services. The firm, operating under the XLNTRADE brand, was found attempting to attract Brazilian clients for securities transactions without authorization. CVM warned the public about the firm's unauthorized activities.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-10•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, focusing on enhancing regional financial resilience, cross-border payment connectivity, and sustainable finance. ASEAN pledged not to impose retaliatory measures against U.S. tariffs and will monitor capital flow volatility. Key initiatives include a multi-year payment connectivity roadmap, establishing "Nexus Global Payment" in Singapore, and endorsing the ASEAN Infrastructure Fund Action Plan for 2025-2028.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-10•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) has issued an alert regarding the unauthorised use of its name by the 'Ya Sobral' project, which falsely claims AFSA regulation and impersonates InvestRoom Ltd, a licensed AIFC firm. AFSA clarified that 'Ya Sobral' is not registered or licensed by AFSA and warned of potential criminal activities, urging the public to verify authorisations and avoid financial dealings with the project.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-10•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has released a list of individuals with qualification certificates for providing investment services and managing investment funds in the securities market. This publication aims to enhance market transparency and investor protection by detailing each certified individual's credentials.
Data & statisticsLicensing framework and process
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2025-04-10•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission issued Circular Letter No. 2025-09, adopting Omnibus Guidelines on Investments for insurance entities, expanding allowable investments and removing prior approval for certain instruments. The framework permits investments in structured products and supranational debt securities, subject to conditions like minimum credit ratings. It also eliminates prior approval for PHP- and foreign currency-denominated investments meeting market standards.
Policy & regulationRules & requirements
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2025-04-10•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur.
Policy & regulationCooperationOther
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2025-04-10•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released Periodical No. 190 for March 2025, detailing its regulatory, supervisory, and institutional activities. The publication aims to assist consumers and investors in understanding the markets under its supervision.
Financial literacy & educationOther
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia, with the United Nations Development Programme and the Asian Development Bank, released “Building Supply Chain Resilience: Insights into Greening Value Chains for ASEAN.” This guide helps businesses accelerate decarbonisation and enhance supply chain resilience, based on Malaysia’s Greening Value Chain pilot programme. The initiative provides technical training, emissions measurement tools, and competitive financing via the Low Carbon Transition Facility.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-10•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced that the UK Government updated sanctions, imposing director disqualification on designated persons under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020. This affects 2,996 individuals and 818 entities, prohibiting them from acting as directors or engaging in company management in Guernsey or Alderney without a licence or exception. Firms must report affected relationships to the States of Guernsey Policy & Resources Committee and the Commission, detailing the connection and actions taken.
EnforcementSanctions & designationsSanctions list update
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2025-04-10•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission added four individuals to the UK Global Human Rights Sanctions Regulations 2020 list, subjecting them to an asset freeze in the Bailiwick of Guernsey. Businesses must verify relationships, freeze relevant assets, and report to the States of Guernsey Policy & Resources Committee. Compliance with the Sanctions (Bailiwick of Guernsey) Law, 2018, is required, including reporting to the Commission and adhering to statutory obligations.
EnforcementSanctions & designationsNew sanctions designations
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the joint statement from the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, emphasizing financial resilience, cross-border payment connectivity, and sustainable finance. Key initiatives include a roadmap with 2025 targets for expanding cross-border payment linkages and increasing QR and peer-to-peer transactions, alongside efforts to combat fraud. The meeting also endorsed the ASEAN Infrastructure Fund Action Plan and proposed new financing facilities for regional projects.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2025-04-10•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia and the Bank of Thailand have signed a Memorandum of Understanding to enhance cooperation in cybersecurity and digital fraud protection. The agreement focuses on information sharing, capacity building, and exchanging best practices to bolster cybersecurity preparedness and consumer protection in both countries' financial sectors.
Policy & regulationCooperationCyber resilience
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2025-04-10•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has introduced new continuing education requirements for all mortgage agents and brokers, effective by March 31, 2026. The framework includes Conduct CE and Technical Knowledge/Professional Development components. Informational webinars will be held to guide compliance and outline qualifying Professional CE activities.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-10•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has issued a consultation on amendments to the Fees Part of the PRA Rulebook for the 2025/26 fee year, proposing new periodic fee rates and targeted cost allocations. Key changes include a £3.2 million allocation for the Future Banking Data programme, CPI-linked fee increases, and adjustments to minimum fees for certain firms. The consultation outlines a draft £4.0 million surplus for 2024/25 and notes enforcement fines of £33.9 million.
Policy & regulationRules & requirementsRegulatory reporting
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2025-04-10•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced the cessation of Mr. Andrey Stoychev’s accreditation as a Securities Dealer’s Representative for Nexo Markets Ltd, effective 21 March 2025, under the Financial Services Authority Act 2013.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-04-10•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is collaborating with Meta Platforms, Inc. and Facebook Thailand to train businesses on protecting brand assets and intellectual property rights. The program covers Meta community standards, brand protection strategies, and Meta’s Brand Rights Protection tool. This initiative aligns with the SEC Strategic Plan for 2025–2027, focusing on investor protection through enhanced public-private cooperation.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-04-10•United Kingdom•HM Treasury
HM Treasury published a record of a meeting with the Financial Conduct Authority (FCA) on the regulatory perimeter, focusing on balancing regulatory burden and consumer protection. Key developments include legislative progress on Buy-Now-Pay-Later activities and ESG ratings, with further consideration needed for non-financial spread betting and the Consumer Credit Act boundary for SME lending. HM Treasury plans to consult on Consumer Credit Act reforms and respond to the Pensions Investment Review consultation.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-10•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs minority, led by Ranking Member Elizabeth Warren, urged Deputy Attorney General Todd Blanche to reverse DOJ decisions to scale back cryptocurrency investigations and disband the National Cryptocurrency Enforcement Team (NCET). The senators argue that mixers are often used for laundering stolen cryptocurrency and other criminal activities, highlighting NCET's role in prosecuting illicit cases. They express concerns about potential links between DOJ's actions and cryptocurrency ventures involving President Trump and his family.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released Chairman Tim Scott’s remarks urging swift consideration of six nominees for senior roles in the Trump administration and federal financial regulators. Key nominations include Michelle Bowman as Vice Chairman for Supervision at the Federal Reserve and John Hurley as Under Secretary for Terrorism and Financial Crimes at the Treasury. Scott emphasized accountability in bank supervision and priorities in anti-money laundering and counter-terrorist financing.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-10•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) has warned about seven fraudulent companies targeting Swedish consumers with fake investment and loan offers. These entities, including Lendix Finanx and Valbury Capital Group, are not authorised to conduct financial business in Sweden. FI advises consumers to verify authorisation through its company register and warning list.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-04-10•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority (Finansinspektionen) announced that Director General Daniel Barr will leave on 18 June, with Malin Alpen appointed as acting Director General from 19 June. Barr will lead an inquiry into strengthening the Swedish bond market post-departure. The government will begin the search for a permanent successor, with Alpen leading in the interim.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has released a revised 2025–2026 plan for the banking sector, focusing on counter-terrorism, terrorist financing, and financing of weapons of mass destruction proliferation. The plan emphasizes risk reduction, enhanced monitoring, and compliance with anti-money laundering and counter-terrorism laws, requiring institution-level arrangements and coordination with relevant bodies. It replaces the previous plan issued in January 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam convened commercial banks to implement a VND 500 trillion preferential-rate credit programme for infrastructure and digital technology investments. Banks agreed to participate, funding primarily from their own resources while maintaining standard credit conditions and offering support through interest-rate concessions and co-financing. The programme targets priority projects in transport, electricity, and digital technology, with disbursements running until 2030 or until funds are exhausted.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-04-10•Vietnam•State Bank of Vietnam
The State Bank of Vietnam joined ASEAN dialogues in Kuala Lumpur, focusing on regional payment connectivity, digital transformation, and combating cross-border financial scams. Deputy Governor Nguyen Ngoc Canh emphasized digital payments for SMEs, regulatory harmonization, and cross-border digital infrastructure. Discussions also covered supply chain resilience, banking digitalization, and strong safeguards in capital account liberalization for financial stability.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia found that 16 banks failed to include potential interest rate increases in the total cost of credit (TCC) ranges for subsidised mortgage loans on their websites. The banks have been ordered to align their disclosures with legal requirements, which mandate that TCC be calculated based on maximum possible loan costs.
SupervisionInterventionsDisclosures
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia reported a 5.1% year-on-year increase in cash turnover, totaling RUB 130.1 trillion in 2024. Cash deposits reached RUB 63.6 trillion, while withdrawals amounted to RUB 66.5 trillion, with significant activity in individuals' bank accounts and trade. Moscow led regional cash turnover with RUB 28.2 trillion.
Data & statisticsCurrency and cash management
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia has recommended that investment platform operators enhance website disclosures by publishing investors’ actual returns on matured loans and non-performing loan ratios. Actual returns should include all payments due, while NPL statistics must be categorized by days past due and published within a month after quarter-end.
Policy & regulationGuidance & interpretationCrowdfundingDisclosures
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia announced the programme for its Financial Congress in St Petersburg from 2–4 July 2025. The event will feature 21 panel sessions, including discussions on sustainable economic growth, macroeconomic policy, financial system risks, and digital infrastructure development. Participants include Bank of Russia management, financial institutions, government authorities, and experts.
Policy & regulationImplementation, projects & pilotsMacroprudential policy and toolsMonetary policy decisions and developments
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2025-04-10•Russia•Central Bank of Russia
The Central Bank of Russia's latest Monitoring of Sectoral Financial Flows review indicates continued growth in business activity, with March incoming payments 8.2% above the 2024 Q4 average. Excluding certain sectors, payments rose by 17.1%, with consumer and investment demand sectors showing increases, while public and external demand sectors saw seasonally adjusted declines.
Data & statisticsEconomic data and developments
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2025-04-10•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority (Finanstilsynet) found Carnegie AS in breach of the Market Abuse Regulation for disclosing inside information during a large buy order in Solstad Offshore ASA shares. The breach involved sharing key order terms with shareholders without proper information handling, despite the market being closed. Finanstilsynet did not impose a penalty but emphasized the need for documented assessments and procedures to prevent misuse, noting Carnegie's commitment to improvement.
SupervisionReviews, inspections & stress testsMarket abuse
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2025-04-10•Albania•Bank of Albania
The Bank of Albania and the Albanian Association of Banks have applied to the European Payments Council for Albanian banks to join the SEPA Credit Transfer scheme, targeting cross-border euro transactions by October 2025. The European Payments Council approved Albania's inclusion in SEPA schemes in November 2024, with applications starting in April 2025. The Bank of Albania is facilitating this process by addressing gaps and supporting technical adjustments for cheaper cross-border transactions.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-10•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority fined a company NOK 150,000 for breaching Market Abuse Regulation Article 19 by reporting a securities transaction over four weeks late. The transaction involved selling 9,300 equity certificates by Sandnes Sparebank, exceeding the EUR 5,000 threshold, without timely notification. The penalty considered trade size, delay length, and absence of mitigating factors, highlighting the need for adequate systems.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-04-10•Chile•Chile Financial Market Commission
The Chile Financial Market Commission fined Tanner Corredora de Seguros Limitada and several insurers a total of UF 19,250 for delays and non-compliance in refunding unearned insurance premiums. Tanner was fined UF 10,000 for not ensuring timely UF-adjusted refunds and failing to inform changes of attorneys-in-fact. BCI Seguros Vida, BCI Seguros Generales, Chubb Seguros de Vida Chile, and Chubb Seguros Chile received fines ranging from UF 1,000 to UF 5,000 for similar severe infractions affecting client funds.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-04-10•United States•Federal Reserve Board
The Federal Reserve Board's FEDS Note indicates geopolitical fragmentation is reshaping U.S. outward foreign direct investment (FDI), shifting from China and Hong Kong to Mexico, India, and Vietnam. Using Bureau of Economic Analysis data, it highlights declines in U.S. capital expenditures and employment in China, contrasted with growth in India and Mexico. Despite measurement challenges, the note observes stagnating U.S. exposure to China, with limited reshoring and localization changes by 2022, except in high-tech and advanced manufacturing sectors.
ResearchGeopolitical risk
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2025-04-10•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) released its Annual Priorities for fiscal year 2026, focusing on consolidating dealer rule frameworks and advancing advice-related policy projects. Key initiatives include finalizing a harmonized rulebook, proposed rule changes on proficiency and disclosure, and oversight of crypto-trading platforms. CIRO also aims to enhance efficiency, reduce regulatory burdens, support open banking, and monitor industry trends like AI and DIY investing.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•Thailand•Ministry of Finance (Thailand)
Thailand’s Ministry of Finance reported Deputy Finance Minister Paopoom Rojanasakul’s participation in ASEAN finance meetings, highlighting disaster risk financing and reinsurance as key strategies. The meetings endorsed Malaysia’s ASEAN Chair Priority Economic Deliverables for 2025, focusing on trade, inclusivity, integration, and digital transformation. Thailand emphasized technology's role in regional financial connectivity and its Thailand Financial Hub Initiative.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•Egypt•Central Bank of Egypt
The Central Bank of Egypt is overseeing a financial inclusion initiative offering fee-waived bank account openings and other services until the end of April for Arab Financial Inclusion Day. The campaign includes issuing prepaid and debit cards, e-wallets, and promoting financial literacy, with activities held in public locations in collaboration with various entities.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-04-10•United States•U.S. Securities & Exchange Commission
The SEC’s Division of Corporation Finance issued guidance on federal securities law disclosure for crypto asset offerings. Registration isn't required if a crypto asset isn't a security or part of an investment contract. The guidance highlights disclosure areas like development timelines and securityholder rights. The Division and the SEC’s Crypto Task Force are seeking feedback and developing further guidance on registration requirements for crypto asset issuers.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-04-10•United States•U.S. Securities & Exchange Commission
The U.S. SEC’s Division of Corporation Finance issued a statement clarifying federal disclosure requirements for crypto-asset offerings and registrations. It addresses common issues under Regulation S-K, emphasizing tailored business descriptions, robust risk factor discussions, and comprehensive descriptions of crypto assets. This aims to provide clarity while the SEC's Crypto Task Force develops a broader regulatory framework.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-04-10•United States•U.S. Securities & Exchange Commission
At the 44th Annual Small Business Forum, SEC Acting Chairman Mark T. Uyeda suggested revising capital formation rules to support smaller companies while ensuring investor protection. He proposed simplifying offering exemptions to reduce compliance costs for early-stage fundraising and revisiting the accredited investor framework for growth-stage companies. Uyeda also highlighted the need to update thresholds for small-cap public companies' reporting obligations, unchanged since 2005.
Policy & regulationReform agendas & prioritiesSME financing
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2025-04-10•United States•U.S. Securities & Exchange Commission
At the SEC’s 44th Annual Small Business Forum, the Director of the Office of the Advocate for Small Business Capital Formation emphasized the event's role in gathering stakeholder input to improve small business capital formation. Participants will prioritize recommendations across three lifecycle stages, with a report to Congress including the top five from each. The speech noted ongoing capital access challenges, despite small businesses creating 80% of net new jobs since 2011 and IPOs rising in 2024.
Policy & regulationReform agendas & prioritiesSME financing
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2025-04-10•Thailand•Bank of Thailand
The Bank of Thailand and Bank Negara Malaysia signed a Memorandum of Understanding to enhance cooperation on cybersecurity and digital fraud protection. The agreement aims to improve information sharing, capacity building, and best practice exchanges to bolster cybersecurity in both countries' financial sectors.
Policy & regulationCooperationCyber resilienceCross-border cooperation
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2025-04-10•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing and Macao's Secretary for Administration and Justice Zhang Yongchun discussed economic and financial developments in the mainland and Macao. They explored how capital markets can support the Hengqin Guangdong-Macao In-depth Cooperation Zone.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration outlined 2025 priorities focusing on full-chain governance and tighter risk control, following a review of 2024 progress in coordination and systemic approaches. The agenda emphasizes strengthening joint working mechanisms, stricter market-entry controls, improved monitoring systems, and expanded public education to address illegal financial activities and reduce legacy risks.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•Asia•Eurasian Group (EAG)
The Eurasian Group said its secretariat participated in a Financial Action Task Force Global Network meeting in Abu Dhabi focused on coordination for the next round of mutual evaluations. Secretariats exchanged best practices on how to support member jurisdictions and address operational challenges in the assessment process.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-10•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu highlighted the central bank's role in digital transformation at the Blockchain Intelligence Forum, emphasizing AI, blockchain, and cybersecurity advancements. She noted Moldova's progress in aligning financial legislation with EU standards amid its EU accession process. Dragu also discussed initiatives to modernize the payments system and align with the EU's Markets in Crypto-Assets Regulation (MiCA).
Policy & regulationReform agendas & prioritiesBlockchain and distributed ledger technologyArtificial intelligence
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2025-04-10•Moldova•National Bank of Moldova
The National Bank of Moldova released a draft decision amending its regulation on banks' governance, focusing on management bodies, board diversity, and conflict-of-interest management. Key updates include new definitions, enhanced oversight duties for boards, and tightened committee governance. The draft also addresses technology-enabled credit processes and introduces non-discrimination policies, with implementation set for five months after publication.
Policy & regulationRules & requirementsCorporate governance
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2025-04-10•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority announced amendments to the sanctions list against Belarus, effective 11 April 2025, as updated by the Swiss Federal Department of Economic Affairs, Education and Research. Financial intermediaries must implement prohibitions, freeze assets, and report affected relationships to the State Secretariat for Economic Affairs. Reporting does not exempt them from further clarifications under the Anti-Money Laundering Act, with mandatory reporting to the Money Laundering Reporting Office if suspicions persist.
Policy & regulationRules & requirementsSanctions list update
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2025-04-10•Argentina•Central Bank of Argentina
The Central Bank of Argentina and the People’s Bank of China have renewed the full activated portion of their bilateral swap arrangement, maintaining RMB 35 billion (USD 5.0 billion) available for an additional 12 months. This extension supports the Central Bank of Argentina's efforts to reduce risk during its transition to a sustainable monetary and exchange-rate regime amid challenging global capital flow conditions.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-04-10•South Korea•Bank of Korea
The Bank of Korea released preliminary 2024 flow of funds data, showing net lending by the total economy at KRW 116.6 trillion, a significant increase from KRW 46.8 trillion in 2023.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-04-10•Denmark•National Bank of Denmark
The National Bank of Denmark released climate-related indicators showing the Danish financial sector financed 11.8 million tonnes of CO2e in 2024 through investments in listed equities and corporate bonds, a 13% increase from 2023. The ten highest-emitting companies accounted for over 20% of financed emissions despite representing only 1% of investment value. The indicators exclude emissions from bank loans and unlisted securities, with plans to expand coverage as data becomes available.
Data & statisticsClimate risk and sustainable finance
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2025-04-10•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis on systemic risks emphasizes their impact on financial stability and methods for identifying vulnerabilities disrupting credit provision. It distinguishes systemic from institution-specific risks, focusing on collective behaviors causing self-reinforcing effects. The paper outlines cyclical and structural risks, citing housing market dynamics and climate-related risks, and reviews tools for identifying these risks without proposing specific mitigation measures.
ResearchFinancial stability and systemic risk
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2025-04-10•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released February 2025 statistics for credit cards, cash cards, and electronic payment institutions, detailing volumes, balances, retail sales, write-offs, and delinquency indicators. Taiwan had 32 credit card issuers with 58.75 million effective cards and a delinquency ratio of 0.3%. Electronic payments included 190.75 million stored value cards with NT$15.28 billion in stored value.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-10•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) reports on climate-related financial risks for UK private occupational pension schemes, urging small defined contribution schemes to improve governance or consolidate. It reveals inadequate trustee understanding in small schemes, with only 17% dedicating resources to climate risk, compared to 100% for master trusts. TPR emphasizes the need for trustees to address financial risks from climate change, pledging ongoing education and enforcement of statutory duties.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-10•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) has appointed Julian Lyne as interim Executive Director of Market Oversight and SV Rangan as Senior Advisor to enhance its financial services expertise. These appointments align with the 2023 Independent Review's recommendation for TPR to bolster its regulatory and sector expertise.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-04-10•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced the addition of four individuals to the UK Sanctions List under the Global Human Rights sanctions regime, subjecting them to an asset freeze in the Isle of Man. The designations relate to alleged failures to address serious violations during protests. Institutions must freeze assets of designated persons, avoid transactions unless legally exempt, and report to the Financial Intelligence Unit.
EnforcementSanctions & designationsSanctions list update
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2025-04-10•Palestine•Palestine Monetary Authority
Governor Yahya Shunnar of the Palestine Monetary Authority attended a high-level session in Kuwait on development goals amid financial uncertainty and debt risks. Organized by the Arab Monetary Fund and the Arab Fund for Economic and Social Development, with the International Monetary Fund and the World Bank, the session highlighted challenges like growing debt burdens and limited fiscal policy space in Arab countries. Shunnar emphasized the need for adaptable financial policy tools to enhance resource efficiency, expand social protection, and ensure equitable opportunity distribution.
Policy & regulationReform agendas & priorities
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2025-04-10•Palestine•Palestine Monetary Authority
PMA Governor Yahya Shunnar met with the IMF and AMF in Kuwait to enhance cooperation and support for the Palestinian economy and banking sector. Discussions with the IMF focused on financial stability, economic growth, and technical assistance, while the AMF meeting addressed digital transformation, financial inclusion, and economic reform. Both meetings underscored the PMA's commitment to international best practices and the readiness of the IMF and AMF to support these initiatives.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) warned about scams using FSRA-licensed firms' names to deceive individuals into making payments or investing in fake opportunities. These scams appear professional and spread through fake websites and social media. The FSRA advises verifying identities through official channels and checking the ADGM Registration Authority’s Public Register for authenticity and regulatory status.
SupervisionAlertsFraud and scams
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2025-04-10•Caribbean•Eastern Caribbean Central Bank
Eastern Caribbean Central Bank Governor Timothy N.J. Antoine discussed geopolitical impacts and a tariff war, noting risks like inflation and slowing growth affecting tourism recovery. He emphasized the EC dollar's strength, supported by high reserves, and outlined priorities: a "growth mindset," food and energy security, and regional integration. Antoine advocated for a less seasonal tourism model, remote work opportunities, and a data and AI strategy to address regional data deficits.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsMonetary policy decisions and developments
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2025-04-09•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission and the French Financial Markets Authority propose revising the EU Pilot Regime for DLT market infrastructures to boost competitiveness and effectiveness. Key proposals include a flexible approach based on project size, expanded authorisation for electronic money tokens, increased eligibility and capitalisation limits, and improved interoperability with traditional systems. Despite its March 2023 introduction, market uptake has been limited.
Policy & regulationRules & requirementsBlockchain and distributed ledger technology
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2025-04-09•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission adopted supervisory and authorization decisions, including revoking its application of certain EIOPA guidelines. It approved VC Investment Group AD’s BGN 5,000,000 bond issue and registered Republika Holding AD’s share issue. Additionally, it made several executive appointments, removed an insurance broker from the register, and addressed licensing and exam admissions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-09•France•France Autorite des marches financiers
The French Financial Markets Authority and the Italian Companies and Exchange Commission have proposed joint measures to the European Commission to recalibrate the EU Distributed Ledger Technology Pilot Regime due to limited market uptake. Key proposals include enhancing flexibility, expanding the regime's scope, and promoting interoperability with traditional infrastructures. These measures aim to support consistent supervision, broaden eligible assets, and improve adoption of DLT-issued financial assets.
Policy & regulationRules & requirementsBlockchain and distributed ledger technology
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2025-04-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority has opened a public consultation on a draft framework to improve rules for offering and listing share types, including disclosure and capital increase requirements. The draft enhances disclosure for redeemable shares, conversion disclosures, and capital increase frameworks, allowing new share types to be registered. It also proposes a notification requirement for owning 5% or more of an issuer’s voting rights, replacing the current trigger based on total shares.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-09•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has initiated the process to appoint a new external member to its Monetary Policy Committee, with the appointment expected by the end of September and the new member starting on 1 October 2025. The selection will be based on expertise in monetary policy, macroeconomics, and understanding of conflicts of interest, with external members serving up to four years and eligible for reappointment.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-09•Colombia•Central Bank of Colombia
The Central Bank of Colombia released Board of Directors Bulletin 16 of 2025, detailing the Unidad de Valor Real (UVR) values effective from 16 April to 15 May 2025, in accordance with External Resolution No. 13 of 2000.
Monetary policyMonetary policy instruments & operationsOther
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2025-04-09•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro and the United Nations Development Programme have partnered under the FINSTEM project to advance digital transformation and modernize Montenegro’s financial sector. The agreement focuses on aligning with European standards, enhancing digital infrastructure, fostering innovation, and promoting sustainable financial practices. It also aims to strengthen system security and resilience while supporting EU regulatory harmonization.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable finance
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2025-04-09•Israel•Bank of Israel
The Bank of Israel's quarterly Credit Officers Survey reveals increased consumer and housing credit demand in Q1 2025, with moderated growth among micro and small businesses and eased credit terms across most segments. Looking to Q2, banks anticipate continued consumer credit growth, stable housing credit demand, and rising construction industry demand, with easing supply conditions driven by competitive pressures and high capital ratios.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-09•India•Reserve Bank of India
The Reserve Bank of India updated the penal interest rates for banks' shortfalls in cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements, following a 25 basis point reduction in the Bank Rate to 6.25%. The penal rates are now set at Bank Rate plus 3.0 percentage points or 5.0 percentage points, resulting in revised rates of 9.25% and 11.25%, respectively.
Monetary policyMonetary policy instruments & operationsPrudential risksLiquidity risk
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2025-04-09•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) confirmed the Polish Short-Term Rate (POLSTR) as the benchmark to replace WIBOR and WIBID, with publication set for Q2 2025. The roadmap includes adopting full Benchmarks Regulation documentation for POLSTR and preparing for POLSTR-referenced PLN Treasury bonds by December 2025. In 2026, the plan anticipates increased issuance of POLSTR-based bonds and derivatives, with a potential regulatory event under Article 23c(1) of the Benchmarks Regulation to formalize the transition.
Policy & regulationReform agendas & prioritiesFinancial benchmarks
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2025-04-09•Ghana•Ghana National Insurance Commission
The Ghana National Insurance Commission and the Nairobi Declaration Secretariat hosted Africa’s first Sustainability Insurance Conference in Accra. The event focused on integrating sustainability and climate resilience into insurance, discussing sustainable underwriting and climate risk mitigation. Key figures emphasized the need for African regulators to adopt Environmental, Social, and Governance principles and climate risk disclosures in regulatory frameworks.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-04-09•United States•Federal Reserve Board
The Federal Reserve Board's research examines the impact of the secular decline in US real interest rates since the 1980s on wages, unemployment, and earnings inequality. The study finds that lower real rates reduced labor’s share of output and the unemployment rate while increasing earnings inequality, driven by rising household debt and wage dispersion. Quantitatively, the decline in real rates led to a 6 percentage point fall in labor’s share, a 0.3 percentage point drop in the unemployment rate, and an increase in earnings variance from 0.66 to 0.75.
Research
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2025-04-09•United States•Federal Reserve Board
The Federal Reserve Board's research paper evaluates the impact of monetary policy rules that incorporate long-run inflation expectations. Findings suggest these rules enhance inflation anchoring, reduce macroeconomic volatility, and mitigate effective lower bound risks. The approach aligns with current central bank communication strategies, complementing existing policy discussions.
Research
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2025-04-09•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released results of its 2024 Common Supervisory Action on ESG disclosures under the Benchmarks Regulation, recommending amendments to BMR Level 2 measures to reduce regulatory burden and improve ESG transparency. ESMA will work with National Competent Authorities and the European Commission to ensure consistent supervision of ESG disclosures across the EU.
SupervisionReviews, inspections & stress testsDisclosuresESG
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2025-04-09•Australia•Council of Financial Regulators
Australia's Council of Financial Regulators, following its 9 April meeting, highlighted ongoing global financial market volatility and affirmed the strength of the Australian financial system. The Council stressed the importance of robust information security controls for superannuation funds, including multifactor authentication, amid recent cyber-attacks, with continued coordination with the Government and trustees.
Policy & regulationCooperationFinancial stability and systemic riskCyber resilience
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2025-04-09•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority hosted a 12-member delegation from Eswatini for a study visit on insurance market supervision and regulatory matters. Discussions included Tanzania's insurance market, legal framework, supervisory powers, and ICT systems, as well as TIRA's priorities like the Universal Health Insurance law and an agricultural insurance consortium. Eswatini aims to enhance its legal framework and continue cooperation with TIRA.
SupervisionCooperationDomestic cooperation
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2025-04-09•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE signed a Memorandum of Understanding with the National Bank of Kazakhstan and the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market to enhance cooperation and information exchange. The MoU focuses on best practices and regulatory approaches in financial markets, FinTech, and central bank digital currencies, including cross-border CBDC transactions. It also includes collaboration on Islamic banking, cybersecurity, and technical cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-04-09•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange are seeking stakeholder feedback on proposed amendments to PSX regulations for listing companies via court-sanctioned schemes. The draft framework allows unlisted companies to gain listing status through demergers of business segments from listed companies, subject to specific criteria. The amendments aim to address the trend of unlisted companies bypassing public offering and listing requirements.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-09•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) warned about unauthorized online trading platforms like Qxbroker (Quotex) targeting Pakistani investors with high-risk products without regulatory approval. SECP highlighted risks of fraud and total investment loss, urging the public to avoid such platforms and verify entities via SECP's authorized list. The issue has been referred to the Federal Investigation Agency, Pakistan Telecommunication Authority, and Google for action.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-09•North Macedonia•National Bank of the Republic of North Macedonia
Governor Anita Angelovska-Bezhoska of the National Bank of the Republic of North Macedonia stressed the importance of formal financial education over unverified online sources during Global Money Week. She highlighted research showing young people's reliance on internet influencers for financial advice and noted gaps in financial literacy and account ownership in North Macedonia compared to the EU. Angelovska-Bezhoska called for collaborative efforts to enhance early-age financial education.
Financial literacy & educationFinancial literacy and education
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2025-04-09•Czech Republic•Ministry of Finance (Czech Republic)
The Czech Republic's Ministry of Finance and the Czech National Bank advised against setting a target date for euro area entry, citing unmet Maastricht criteria and structural economic challenges. The assessment highlighted strong trade links and a robust banking sector but noted real convergence gaps and fiscal sustainability issues. Recommendations include aligning any future target date with an electoral cycle's start for effective preparation and coordination.
Policy & regulationGuidance & interpretationEconomic data and developments
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2025-04-09•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance plans a national ATM network with commercial banks for free cash withdrawals at any participating ATM. This replaces an earlier proposal for five free withdrawals at other banks' ATMs, which the Croatian National Bank warned could threaten banks' stability. A draft memorandum will be sent to banks for comments, with the provision for five free transactions likely to remain in the bill with a suspensive clause.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-09•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority’s Investor Education Foundation released preliminary findings from its National Financial Capability Study, showing state-by-state variation in financial knowledge and improved understanding of inflation. Based on a quiz of over 25,500 US adults, Minnesota led with 34.78% answering at least five questions correctly. Nationally, 27% achieved this benchmark, with notable gains in inflation understanding among 18 to 34 year olds.
Financial literacy & educationFinancial literacy and education
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2025-04-09•Sweden•Riksbank
Sweden's Riksbank has opened its settlement system, RIX, to payment and electronic money institutions, allowing them to apply for participant status from 9 April. This move follows amendments to the Settlement Act and aims to enhance competition and foster innovative payment solutions.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-04-09•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The European Union's Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has signed a lease for new office space in Frankfurt’s MesseTurm, establishing its first official seat in the city. AMLA will occupy the tower’s top floors, formalizing its long-term presence and enhancing its connection with Frankfurt.
Institutional developmentProcurementHiring and recruitment
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2025-04-09•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The European Union’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism has signed a lease for new office space in Frankfurt's Messeturm, formalizing its long-term presence in the city. The agency has been hosted in the building since the start of the year.
Institutional developmentProcurementHiring and recruitment
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2025-04-09•Austria•Austrian National Bank (OeNB)
The Austrian National Bank reported Austrian banks' profit after tax and minority interests at EUR 11.5 billion in 2024, down EUR 1.1 billion from 2023. Operating income rose to EUR 37.4 billion, driven by net interest income and trading results, despite higher administrative expenses and depreciation. The OeNB emphasized using strong earnings to bolster capital and corrected the 2023 after-tax result to EUR 12.6 billion following audited adjustments.
Data & statisticsFinancial and market indicatorsActivity and performance reporting