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  • 2025-02-27BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission launches second edition of TOP Personal Financial Planning book with Planejar

    The Brazil Securities Commission (CVM) has released the second edition of its TOP Book on Personal Financial Planning, in collaboration with Planejar. This edition updates content on financial planning professionals' roles in financial education and long-term saving, covering investments, retirement planning, and risk management. The book also outlines the financial planning process and the CFP® certification, serving as a reference for CVM’s TOP Teacher Training Programme.

    Financial literacy & educationFinancial literacy and education
  • 2025-02-27AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan schedules 5 March mobile public reception in Gazakh on financial services issues

    The Central Bank of the Republic of Azerbaijan will conduct a mobile public reception in the Gazakh district on 5 March 2025 to enhance consumer and investor rights protection. The event will address financial services inquiries from residents of Gazakh, Aghstafa, Gadabay, Shamkir, and Tovuz districts, with appointments available through the Central Bank's hotline and WhatsApp channel.

    Financial literacy & educationConsumer and investor protection
  • 2025-02-27AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority registers Banka Credins bond issuance offer and approves insurance governance and licensing actions

    The Albania Financial Services Authority approved an audit firm for its 2024 financial statements and registered Banka Credins’ bond issuance offering document. It also reappointed key personnel at Sigal Uniqa Group Austria and WVP – Insurance Intermediation, and appointed personnel at First Investment Bank. Additionally, the board renewed licences for insurance claims assessors and authorised insurance agent activities.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-02-27Papua New GuineaBank of Papua New Guinea

    Bank of Papua New Guinea confirms cyber incident contained with no impact on banking systems or financial data

    The Bank of Papua New Guinea confirmed a recent cyber incident was identified and contained without affecting financial data or banking systems, with unusual network activity detected and resolved between 21 and 23 February in an isolated test environment. The incident was unrelated to another cybersecurity event in Papua New Guinea.

    Institutional developmentOtherCyber resilience
  • 2025-02-27BahrainCentral Bank of Bahrain

    Central Bank of Bahrain hosts MEDEF International-led French business delegation to discuss financial services cooperation

    The Central Bank of Bahrain hosted a French business delegation led by MEDEF International to discuss cooperation in financial services. Governor Khalid Humaidan and MEDEF Chairman Frédéric Sanchez explored economic and investment links between Bahrain and France. The discussions also addressed MEDEF International's objectives and roles.

    Policy & regulationCooperationCross-border cooperation
  • 2025-02-27GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission corrects Russia sanctions details for OJSC Keremet Bank and reiterates asset freeze and banking restrictions

    The Guernsey Financial Services Commission issued a Russia sanctions notice correcting details for OJSC Keremet Bank, confirming its continued asset freeze under UK and Guernsey regulations. Businesses must verify and freeze accounts or assets linked to designated entities, report findings to the States of Guernsey Policy & Resources Committee, and comply with statutory reporting obligations. Firms must also inform the Commission and provide detailed reports on affected relationships or transactions.

    EnforcementSanctions & designationsSanctions list update
  • 2025-02-27ZambiaBank of Zambia

    Bank of Zambia warns investors of fraudulent emails demanding regulatory fees on government securities

    The Bank of Zambia issued a scam alert warning about fraudulent emails falsely claiming to be from the central bank and demanding "regulatory fees." The emails originate from info.boz.zambia@gmail.com, which is not an official address. The Bank emphasized it does not charge such fees and urged recipients to report suspicious communications to law enforcement.

    SupervisionAlertsFraud and scams
  • 2025-02-27GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission corrects UK Russia sanctions details for four designees and restates asset-freeze obligations

    The Guernsey Financial Services Commission issued a Russia sanctions notice correcting details for four designated persons and entities under the Russia (Sanctions) (EU Exit) Regulations 2019. Vasily Vitalyevich Abramov, Natalya Aleksandrovna Tyurina, JSC SIBERIA AIRLINES, and MONOLINK GROUP FZCO remain subject to asset freeze and trust services sanctions. Businesses must freeze related funds or assets and report to the States of Guernsey Policy & Resources Committee, ensuring compliance with statutory reporting requirements.

    Policy & regulationRules & requirementsSanctions list update
  • 2025-02-27PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission steps up AML CFT programme with Project HARBOR beneficial ownership registry and draft crypto-asset provider rules

    The Philippine SEC announced new anti-money laundering and counter-terrorist financing initiatives to prevent re-entry into the FATF grey list. Key measures include launching the Hierarchical Applicable Relations and Beneficial Ownership Registry (Project HARBOR) in 2025, continued AML/CFT examinations, and drafting new rules for crypto-asset service providers. The SEC also plans to enhance enforcement tools and leverage the Anti-Financial Account Scamming Act for broader oversight.

    Policy & regulationImplementation, projects & pilotsAML and CFTBeneficial ownership
  • 2025-02-27PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission steps up engagement in ASEAN capital market initiatives at Malaysia meetings

    The Philippine Securities and Exchange Commission attended ASEAN capital market meetings in Penang, Malaysia, focusing on sustainable finance, digital assets, and regulatory capacity-building. The 42nd ASEAN Capital Markets Forum Chairs’ Meeting prioritized aligning ASEAN markets with global standards and enhancing cross-border cooperation. SEC Philippines also engaged in technical training on Sustainability Disclosure Standards and participated in meetings on the ASEAN Sectoral Plan and other regional initiatives.

    Policy & regulationCooperationMarket development
  • 2025-02-27SeychellesSeychelles Financial Services Authority

    Seychelles Financial Services Authority warns public about fraudulent emails sent from contact@fsa-seychelles.com

    The Seychelles Financial Services Authority issued a scam alert regarding misleading messages from the email address contact@fsa-seychelles.com, falsely claiming to be official. The authority advised extreme caution and recommended against responding to or engaging with emails from this address.

    SupervisionAlertsFraud and scams
  • 2025-02-27UgandaUganda Insurance Regulatory Authority

    Uganda Insurance Regulatory Authority directs life insurers to resubmit endowment assurance products for re-approval by 7 March 2025

    The Uganda Insurance Regulatory Authority has mandated life insurers to review and remediate endowment assurance contracts, requiring re-submission for regulatory review. Insurers must enhance policy documentation, ensure clear communication with policyholders, and maintain agent training, with penalties for non-compliance. Compliance reports are due by 30 April 2025, with immediate implementation required.

    Policy & regulationRules & requirementsSales and distribution
  • 2025-02-27ThailandThailand Securities & Exchange Commission

    Thailand Securities and Exchange Commission urges EP253A bondholders to assess proposed maturity extension to March 2026 and interest rate increase ahead of 4 March meeting

    The Thailand Securities and Exchange Commission advises Eastern Power Group Public Company Limited’s EP253A bondholders to review information and exercise their rights at the upcoming meeting. The meeting will address the bondholder register closing date, a waiver for an event of default, extending the bond’s maturity by one year, and increasing the interest rate from 5.50% to 6.00% during the extension. The SEC mandates the bondholders’ representative to evaluate the proposals' implications and provide an informed opinion.

    Policy & regulationGuidance & interpretationCorporate governance
  • 2025-02-27United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs asks X to provide FHFA nominee Bill Pulte’s over 24,000 deleted posts

    Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, requested X CEO Linda Yaccarino recover Bill Pulte’s deleted social media posts before his nomination hearing for the Federal Housing Finance Agency. The Committee seeks to evaluate Pulte's policy positions and suitability for overseeing USD 8.1 trillion in mortgage financing.

    SupervisionAuthorisations & approvalsOther
  • 2025-02-27United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing, and Urban Affairs Chair Tim Scott urges rapid confirmation of Trump nominees for top economic and financial regulator posts

    The U.S. Senate Committee on Banking, Housing, and Urban Affairs released Chairman Tim Scott’s remarks urging swift Senate confirmation of President Trump’s nominees for key economic and regulatory positions. Scott linked the need for rapid confirmations to criticisms of the previous administration's economic performance, highlighting price increases and the importance of FHFA and CFPB leadership in addressing mortgage market liquidity and regulatory overreach.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-02-27United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs leaders urge the administration to oppose the EU Corporate Sustainability Due Diligence Directive

    The U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, urges the U.S. administration to oppose the EU’s Corporate Sustainability Due Diligence Directive (CSDDD). The committee cites concerns over U.S. competitiveness, extraterritorial reach, and potential compliance costs, litigation, and penalties for U.S. companies. The letter advocates pausing the CSDDD, removing certain articles, and clarifying that U.S. companies are not subject to EU-style net zero transition plans.

    Policy & regulationOtherClimate risk and sustainable finance
  • 2025-02-27United StatesU.S. Financial Services Committee

    U.S. House Financial Services Committee chairs urge Treasury to oppose the EU Corporate Sustainability Due Diligence Directive and back an indefinite pause

    U.S. House Financial Services Committee leaders and Senate counterparts have expressed concerns to the U.S. Treasury and National Economic Council about the EU's Corporate Sustainability Due Diligence Directive (CSDDD). They argue its extraterritorial reach could harm U.S. competitiveness, affecting at least 300 U.S. companies and imposing penalties up to 5% of global turnover. The lawmakers urged the Administration to support pausing CSDDD and clarify that U.S. firms are not bound by EU-style net zero transition plans.

    Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
  • 2025-02-27EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority details amendments to exchange listing and delisting rules including new SPAC mechanisms and a 25-working-day delisting timetable

    The Egypt Financial Regulatory Authority held a market dialogue on listing and delisting rule amendments, focusing on simplifying procedures, enhancing minority shareholder protection, and increasing disclosure. Key changes for SPACs include expanded acquisition methods, revised trading conditions, and new lock-up requirements. Voluntary delisting now requires 75% approval from meeting attendees and introduces new criteria for stock splits and remuneration scheme approvals.

    Policy & regulationRules & requirementsCorporate governance
  • 2025-02-27EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority revises Egyptian Exchange listing and delisting rules introducing SPAC provisions and tighter voluntary delisting safeguards

    The Egypt Financial Regulatory Authority issued Board Decision No. 46 of 2025, amending the Egyptian Exchange’s securities listing and delisting rules. Key changes include a detailed regime for special purpose acquisition companies (SPACs), updated requirements for SMEs moving to the main market, and tightened voluntary delisting processes. The amendments also address corporate actions, disclosure processes, and introduce requirements for mergers and asset disposals.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-02-27NorwayNorwegian Finanstilsynet

    Financial Supervisory Authority of Norway reports 15.4% 2024 bank ROE and improved results across insurance and pensions

    Norway's Financial Supervisory Authority's 2024 report shows increased profitability for banks, life insurers, pension funds, and non-life insurers compared to 2023. Banks' return on equity rose to 15.4%, aided by gains from the Fremtind Forsikring and Eika Forsikring merger and reduced operating costs. Life insurers and pension funds benefited from higher investment income, while non-life insurers' profit before tax increased to 27.5% of insurance income.

    SupervisionRisk monitoring & watch points
  • 2025-02-27NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority reports higher residential mortgage rule deviations in Q4 2024 while all sampled lenders stayed within flexibility quota limits

    The Norwegian Financial Supervisory Authority's quarterly review revealed an increase in residential mortgage deviations from regulatory requirements in Q4 2024, while consumer loan deviations slightly decreased. No institution exceeded the maximum permitted deviation share. The report also notes recent amendments to the lending regulation, effective 31 December 2024, which do not impact the Q4 data.

    SupervisionReviews, inspections & stress testsLending
  • 2025-02-27NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority clarifies buffer fund allocation and surplus treatment including 20% profit share on paid-up policy drawdowns

    The Norwegian Financial Supervisory Authority issued a letter clarifying buffer fund treatment for life insurance and pension funds. It mandates allocation to individual contracts, prohibits transfers between customers' buffer funds, and outlines surplus sharing rules for paid-up policies and occupational pension schemes. The letter also reflects ongoing discussions about enhancing legal clarity on surplus sharing rules.

    Policy & regulationGuidance & interpretationPrudential risks
  • 2025-02-27NorwayNorwegian Finanstilsynet

    Financial Supervisory Authority of Norway replaces supervisory circulars with new guidance format

    The Financial Supervisory Authority of Norway will now use "guidance" documents instead of "circulars" to describe its supervisory practices. These concise documents will be updated regularly, with notifications sent to subscribers of relevant supervisory areas. Existing circulars will remain accessible online until replaced by guidance, with previous versions available upon request.

    Policy & regulationGuidance & interpretationRegulatory reporting
  • 2025-02-27NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority issues Landkreditt Forsikring inspection report highlighting weaknesses in outsourced actuarial oversight and reserving documentation

    The Norwegian Financial Supervisory Authority (Finanstilsynet) released an inspection report on Landkreditt Forsikring AS, highlighting the need for improved oversight of outsourced actuarial tasks and enhanced documentation of insurance technical provisions. It identifies governance weaknesses, including incomplete suitability assessments for key personnel and outsourcing issues, with a transition to in-house actuarial oversight from January 2025. Finanstilsynet also calls for clearer ORSA presentations, proper registration of agents, and a reassessment of investment management limits.

    SupervisionReviews, inspections & stress testsRisk managementPrudential risks
  • 2025-02-27MoldovaNational Commission for Financial Markets

    National Commission for Financial Markets approves Moldova-Agroindbank MDL 1.5bn bond programme and registers JLC and Farmaco capital increases

    The National Commission for Financial Markets approved a bond prospectus for Commercial Bank Moldova-Agroindbank, part of a MDL 1.5bn programme, and updated capital markets authorisations and issuer registries. The bond programme includes ten tranches of non-convertible bonds with a floating coupon linked to the National Bank of Moldova's rates. Additionally, the issuer register was updated for JLC and ÎNTREPRINDEREA MIXTĂ FARMACO, while MONSATO's securities were removed after its conversion to a limited liability company.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-02-27RussiaCentral Bank of Russia

    Central Bank of Russia urges banks to extend repayment holidays for borrowers in Belgorod, Bryansk and Kursk Regions

    The Central Bank of Russia advised creditors to contact borrowers in Belgorod, Bryansk, and Kursk Regions with repayment holidays or loan restructurings, assessing further support and extending holidays for six months upon request. Banks should use existing borrower documents and avoid re-requesting them. Interest accrual during payment suspensions is governed by loan agreements, with creditor programmes waiving interest during restructuring highlighted as socially valuable.

    Policy & regulationGuidance & interpretationLending
  • 2025-02-27United StatesFederal Reserve Board

    US Federal Reserve Board research estimates a global factor explains around two thirds of remittance growth variation

    The Federal Reserve Board's FEDS Note analyzes global workers’ remittances, identifying a "global remittances factor" accounting for 60% of remittance growth variation. It links major remittance swings during the Global Financial Crisis and COVID-19 to changes in global financial conditions and economic activity. The analysis highlights remittances' significant role, especially in low- and middle-income countries, where they can surpass foreign direct investment and official development assistance.

    ResearchCross-border payments
  • 2025-02-27RussiaCentral Bank of Russia

    Central Bank of Russia reports BRICS financial deputies set 2025 agenda on national-currency settlements, market interoperability and information security

    The Central Bank of Russia reported on the first 2025 BRICS financial track meeting, highlighting cooperation on national currency settlements, financial market interoperability, and information security. The meeting, organized by Brazil, also emphasized transition finance and financial technology development, with Indonesia participating as a new member. These discussions will inform future work and the upcoming BRICS summit.

    Policy & regulationCooperationCross-border cooperationPayments and payment systems
  • 2025-02-27RussiaCentral Bank of Russia

    Central Bank of Russia publishes behavioural assessment on why borrowers do not read loan terms and conditions

    The Central Bank of Russia's behavioural assessment reveals that many borrowers do not read loan agreement terms, often due to lengthy documentation and reliance on bank managers. Nearly half of borrowers sign agreements remotely via banking apps. The findings will inform enhancements to consumer lending regulation.

    ResearchConsumer and investor protection
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission dismisses Coinbase civil enforcement action with prejudice and pivots crypto policy work to the Crypto Task Force

    The U.S. SEC dismissed its civil enforcement action against Coinbase, signaling a shift to a policy-led approach under the new Crypto Task Force. Commissioner Hester M. Peirce criticized the previous "regulation-by-enforcement" strategy, highlighting the complex application of the Howey test to crypto. The SEC aims to develop a workable crypto framework through public engagement, while maintaining enforcement for suitable cases.

    EnforcementInvestigations & enforcement actionsRegulatory burden
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Division of Corporation Finance states that typical meme coin transactions are not securities offerings

    The SEC’s Division of Corporation Finance stated that "meme coins" generally aren't considered securities under federal law, so participants needn't register under the Securities Act of 1933. However, fraudulent activities involving meme coins may still face enforcement by other agencies.

    Policy & regulationGuidance & interpretationSecurities offerings and listings
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission charges Justinas Butkus over USD 4.1 million non-existent mutual fund offering fraud

    The U.S. Securities and Exchange Commission (SEC) has charged Justinas Butkus and his entities, HMC Trading LLC and HMC Management LLC, for allegedly raising USD 4.1 million from investors through non-existent mutual funds. The SEC claims Butkus used fictitious firms and false statements to promote sham investments, diverting funds for personal use. The complaint seeks injunctive relief, disgorgement, and civil penalties, naming DK Auto LLC as a relief defendant.

    EnforcementInvestigations & enforcement actionsFraud and scams
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Commissioner Crenshaw challenges staff view that meme coin offers are generally not securities

    SEC Commissioner Caroline A. Crenshaw criticized the Division of Corporation Finance's statement on meme coins, arguing it presents an unsupported legal view by suggesting these coins fall outside SEC jurisdiction. Crenshaw emphasized that the Howey test requires assessing economic realities to determine if an asset is a security. She noted that practices like token supply retention and marketing strategies could influence profit expectations, challenging the notion that meme coins are generally not securities.

    Policy & regulationGuidance & interpretationSecurities offerings and listings
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission moves to dismiss its civil enforcement action against Coinbase citing forthcoming crypto task force recommendations

    The U.S. Securities and Exchange Commission (SEC) seeks to dismiss its enforcement action against Coinbase, citing potential recommendations from its new Crypto Task Force. Commissioner Caroline A. Crenshaw criticized this unprecedented reversal, saying it undermines legal clarity and the SEC's enforcement credibility. She emphasized that existing securities laws should apply to crypto assets unless new rules are adopted or Congress intervenes.

    EnforcementInvestigations & enforcement actions
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Investor Advisory Committee to examine AI-related disclosure and retail investor fraud at March 6 public meeting

    The U.S. Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting on March 6, featuring panels on AI's impact on company operations and retail investor fraud. The committee will also discuss a potential recommendation regarding investors' rights under Section 11 of the Securities Act of 1933.

    Policy & regulationOtherArtificial intelligenceDisclosures
  • 2025-02-27United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission moves to dismiss civil enforcement action against Coinbase in light of Crypto Task Force work

    The U.S. SEC has dismissed its civil enforcement action against Coinbase Inc. and Coinbase Global Inc., citing its Crypto Task Force's work on a regulatory framework for crypto assets. Acting Chairman Mark T. Uyeda emphasized transparency in crypto policy development. The SEC stated the dismissal is strategic for reforming regulatory practices, not a judgment on the case's merits, and confirmed its Cyber and Emerging Technologies Unit will continue addressing misconduct in the crypto sector.

    EnforcementInvestigations & enforcement actionsOther
  • 2025-02-27MaltaMalta Financial Services Authority

    Malta Financial Services Authority extends compliance outcomes-based supervision across all financial services sectors in 2025

    The Malta Financial Services Authority (MFSA) has published its Supervisory Priorities for 2025, emphasizing a compliance outcomes-based approach across the Maltese financial services sector. This approach, piloted in 2024, will focus on Governance, Risk and Compliance, Financial Crime Compliance, Consumer Protection, Resilience, Sustainable Finance, Digital Finance, and Cross-Border Supervision. The MFSA aims to refine this approach, address emerging risks, and align with European Supervisory Authorities' focus on supervisory convergence.

    SupervisionSupervision approach, priorities & toolkitCompliance
  • 2025-02-27United StatesOffice of the Comptroller of the Currency

    Office of the Comptroller of the Currency releases second and third quarter 2025 CRA evaluation schedule and invites public comment

    The Office of the Comptroller of the Currency (OCC) released its Community Reinvestment Act (CRA) evaluation schedule for national banks and federal savings associations for Q2 and Q3 2025. The OCC invites public comments on CRA activities, which will be considered if submitted before the evaluation month. CRA performance evaluations will feature updated formatting and presentation for examinations starting in Q2 2025.

    SupervisionReviews, inspections & stress testsOther
  • 2025-02-27ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration and the People's Bank of China publish implementation plan to accelerate high-quality green finance in banking and insurance

    China's National Financial Regulatory Administration and the People's Bank of China have issued a plan to advance green finance in banking and insurance, focusing on ESG risk management and performance improvement. The plan emphasizes financing for industrial upgrades, low-carbon transport, and energy transition, while promoting green credit, insurance systems, and products like energy-efficiency lending and carbon trading insurance. It includes measures for ESG risk frameworks, climate risk methodologies, and sector-specific stress testing.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-27ChinaChina Banking and Insurance Regulatory Commission

    China’s National Financial Regulatory Administration and the People’s Bank of China issue implementation plan to advance high-quality green finance in banking and insurance

    China’s National Financial Regulatory Administration and the People’s Bank of China released a plan to guide banks and insurers in expanding green finance and supporting low-carbon development. It outlines 24 measures focusing on green finance targets, financial support for key sectors, and enhanced risk management, emphasizing industrial upgrading, low-carbon energy transition, and development of green financial products and standards.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-27AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority releases December 2024 superannuation statistics with assets rising to AUD 4.2 trillion

    The Australian Prudential Regulation Authority (APRA) released its Quarterly Superannuation Performance and MySuper Statistics for December 2024, noting total superannuation assets of AUD 4,166.9 billion, a 2.1% quarterly and 11.5% annual increase. APRA-regulated assets reached AUD 2,916.6 billion, with significant growth in contributions and benefit payments across various segments.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-27AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority confirms consultation on annuity capital settings including a revised illiquidity premium to lower capital requirements

    The Australian Prudential Regulation Authority will launch a public consultation in Q2 2025 on revising capital settings for annuity products, proposing reduced capital requirements for life insurers contingent on specific risk controls. This initiative aims to enhance the availability of retirement products, following discussions from a July 2024 industry roundtable.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-02-27AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority consults on mortgage lending treatment of HELP debts and outlines enforcement actions including ANZ $750 million capital add-on

    The Australian Prudential Regulation Authority (APRA) outlined priorities, including a consultation on assessing Higher Education Loan Program debts in mortgage lending, debt-to-income reporting, and an imminent governance prudential standards update. APRA highlighted intensified scrutiny of superannuation fund expenditure, recent enforcement actions, and upcoming cross-industry initiatives, including extending the Financial Accountability Regime and new operational risk management requirements.

    SupervisionSupervision approach, priorities & toolkitFinancial stability and systemic riskPrudential risks
  • 2025-02-27United StatesFinancial Crimes Enforcement Network

    Financial Crimes Enforcement Network pauses enforcement of Corporate Transparency Act beneficial ownership reporting deadlines pending interim final rule

    FinCEN announced a temporary non-enforcement policy for companies not filing or updating beneficial ownership information (BOI) reports under the Corporate Transparency Act until an interim final rule is effective. FinCEN plans to extend BOI reporting deadlines and provide guidance, focusing on entities posing significant law enforcement and national security risks. Public comments will be solicited to inform potential revisions aimed at reducing burdens on small businesses while maintaining BOI utility for security and law enforcement.

    Policy & regulationRules & requirementsBeneficial ownership
  • 2025-02-27IndiaSecurities & Exchange Board of India

    Securities and Exchange Board of India launches Bond Central centralised corporate bond database portal

    The Securities and Exchange Board of India launched Bond Central, a centralized database for corporate bonds, developed by the Online Bond Platform Providers Association with Market Infrastructure Institutions. The portal offers consolidated bond listings, price comparison tools, risk assessments, and standardized data to reduce information asymmetry. The first phase is live, with more features to be added based on stakeholder feedback.

    Policy & regulationImplementation, projects & pilotsMarket infrastructure
  • 2025-02-27BhutanRoyal Monetary Authority of Bhutan

    Royal Monetary Authority of Bhutan takes enforcement action against bank account sharing networks with BTN 3.63 million confiscated

    The Royal Monetary Authority of Bhutan announced actions against 20 individuals for sharing bank accounts, resulting in 16 convictions and penalties, including confiscation of BTN 3.63 million. Despite warnings, account-sharing networks facilitated financial crimes, risking financial system integrity and national security. The RMA will maintain strict enforcement with national law enforcement agencies.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-02-27DenmarkNational Bank of Denmark

    National Bank of Denmark reports ordinary mortgage instalments fell to DKK 18,750 per DKK 1 million in 2024 despite more amortising debt

    The National Bank of Denmark's analysis shows Danish homeowners' ordinary mortgage instalments per DKK 1 million of debt decreased by 4.8% in 2024, despite increased mortgage debt with instalments since 2023. This decline is due to higher interest rates steepening amortisation profiles, reducing instalments earlier in the loan term. The report also notes a rise in extraordinary debt reduction, with average extraordinary instalments increasing to DKK 1,850 per DKK 1 million borrowed in 2024.

    ResearchLending
  • 2025-02-27TaiwanTaiwan Financial Services Commission

    Taiwan Financial Services Commission reports January 2025 insurance sector pre-tax profit of TWD 35.7bn

    Taiwan's Financial Services Commission reported January 2025 insurance industry results, with pre-tax profits of TWD 35.7bn and owners' equity of TWD 2,748.2bn. Life insurers saw a 0.9% increase in pre-tax profit to TWD 32.1bn, while non-life insurers experienced a 24.1% rise to TWD 3.6bn. The Taiwan dollar appreciated 0.3% against the USD, affecting foreign exchange valuation reserves and overseas investment performance for life insurers.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-27CaribbeanEastern Caribbean Central Bank

    Eastern Caribbean Central Bank commission launches consultations on creating a regional regulator for citizenship by investment programmes

    The Eastern Caribbean Central Bank announced that the Interim Regulatory Commission will conduct consultations to establish a Regional Regulator for Citizenship by Investment Programmes. Starting in Saint Christopher and Nevis on 4 March 2025, the consultations aim to enhance transparency, accountability, and integrity. Legal drafting consultant Lydia Elliott will present the legislative framework, with feedback from stakeholders including government, industry, and social partners.

    Policy & regulationCooperationOther
  • 2025-02-26GreeceBank of Greece

    Bank of Greece concludes joint visit by ECB Banking Supervision and Single Resolution Board chairs focused on coordination with Greek supervisors

    The Bank of Greece hosted a two-day visit by Claudia Buch, Chair of the European Central Bank Supervisory Board, and Dominique Laboureix, Chair of the Single Resolution Board, to enhance cooperation with European bodies. Discussions with Governor Yannis Stournaras and other officials focused on Greek banks' prospects, supervisory cooperation, and economic challenges, including climate change and sustainability.

    SupervisionCooperationSupervision process and methodologies
  • 2025-02-26BulgariaBulgaria Financial Supervision Commission

    Bulgaria Financial Supervision Commission approves Tiz Invest bond prospectus, updates the public issuer register and exempts Aurubis Bulgaria from investment intermediary licensing for 2025

    The Bulgaria Financial Supervision Commission issued decisions on securities admissions, governance approvals, rule amendments, and a derivatives trading licensing exemption. Key actions include approving Tiz Invest AD’s bond prospectus, registering Weiser Technology AD’s new share issue, and removing ELG AD and BG AGRO AD from the public companies register. Aurubis Bulgaria AD received a licensing exemption for 2025, and Nayden Nedelchev was approved as Head of Internal Audit at MMV Insurance EAD.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-02-26AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission cancels two Australian credit licences over unpaid levies and compliance failures

    ASIC revoked the credit licences of Queensland-based Tracie Lee Hanson and William James Lawrence due to unpaid levies and compliance breaches. Hanson failed to lodge compliance certificates and pay fees, leading to her licence cancellation on 4 October 2024. Lawrence's licence was cancelled on 28 January 2025 after six years of unpaid levies. Both can seek review through the Administrative Review Tribunal.

    SupervisionAuthorisations & approvalsCompliance
  • 2025-02-26Saudi ArabiaSaudi Arabia Capital Markets Authority

    Saudi Arabia Capital Market Authority clears Forsah Capital Company to begin managing investments and operating funds

    Saudi Arabia's Capital Market Authority announced that Forsah Capital Company has fulfilled the requirements to commence business under its licence for managing investments and operating funds in the securities sector. The licence was granted under the Capital Market Law and its implementing regulations, following approval on 04 November 2024.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-02-26Hong KongHong Kong Insurance Authority

    Hong Kong Insurance Authority welcomes 2025-26 Budget and highlights three-year extension of the Pilot Insurance-linked Securities Grant Scheme

    The Hong Kong Insurance Authority welcomed the 2025-26 Budget's policy initiatives, including a three-year extension of the Pilot Insurance-linked Securities Grant Scheme and measures for insurer re-domiciliation to Hong Kong. Since 2021, six catastrophe bonds have been issued under the scheme, enhancing alternative risk transfer solutions. The IA is working with overseas-incorporated insurers to expedite their re-domiciliation to Hong Kong.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-02-26FranceFrance Autorite des marches financiers

    France's Autorité des marchés financiers publishes 2023 asset management key figures report

    The Autorité des marchés financiers released a report detailing 2023 key figures for the asset management sector, including profiles of management companies, assets under management, activity levels, profitability, control arrangements, and own funds.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-26SpainSpanish Securities Commission (CNMV)

    Spanish Securities Commission publishes 2025 activity plan with 44 objectives and a new retail investor protection and financial education department

    The Spanish Securities Commission (CNMV) released its 2025 Activity Plan, outlining three strategic lines and 44 objectives to enhance supervision and support capital markets. Key initiatives include a new department for retail investor protection, focus on cryptoassets, sustainable finance, AI, and a review of internal procedures. The plan addresses investor protection, capital market support, and institutional improvements, including a three-year cybersecurity strategy and digital transformation efforts.

    Institutional developmentMandate & organizational structureFintech and insurtechSupervision process and methodologies
  • 2025-02-26MexicoMexico Comision Nacional Bancaria y de Valores (CNBV)

    Mexico's National Banking and Securities Commission reports brokerage houses’ December 2024 capitalisation ratio at 30.18% with all firms in Category I

    Mexico's National Banking and Securities Commission reported that the Capitalisation Index for brokerage houses was 30.18% as of December 2024. All brokerage houses were classified in Category I, indicating compliance with the 8% minimum capitalisation requirement and a 2.5% capital conservation buffer, with no immediate supervisory action needed.

    SupervisionRisk monitoring & watch pointsCapital adequacy
  • 2025-02-26KosovoCentral Bank of the Republic of Kosovo

    Central Bank of the Republic of Kosovo agrees with Luxembourg to deepen cooperation on reserves management and payments modernisation

    The Central Bank of the Republic of Kosovo's Governor, Ahmet Ismaili, met with Luxembourg’s Ambassador to discuss financial sector reforms and cooperation. Key topics included legal and regulatory progress, financial inclusion, education, and Kosovo's pre-application for the Single Euro Payments Area. The meeting emphasized the partnership with the Central Bank of Luxembourg, focusing on international reserve management and capacity building.

    Policy & regulationCooperationCross-border cooperation
  • 2025-02-26DenmarkDanish Finanstilsynet

    Danish Financial Supervisory Authority clarifies which firms must file 2024 annual reports in iXBRL, XHTML or PDF

    The Danish Financial Supervisory Authority reminded large companies to submit 2024 annual reports to the Danish Business Authority in new digital formats. Firms preparing group accounts under International Financial Reporting Standards or subject to sustainability reporting must use Inline XBRL (iXBRL), while others must file in XHTML or PDF. From 2025, mandatory taxonomy tagging will apply to financial companies filing in iXBRL.

    Policy & regulationGuidance & interpretationRegulatory reporting
  • 2025-02-26AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission launches discussion paper seeking feedback on shifts between public and private capital markets

    The Australian Securities & Investments Commission (ASIC) has released a discussion paper on the evolving dynamics between Australia's public and private capital markets, seeking feedback on regulatory adaptations. It addresses declining public listings, private market growth, and superannuation funds, highlighting risks like opacity and valuation uncertainty. ASIC plans increased supervision of private equity and credit funds in 2025, focusing on governance, valuation, and disclosure compliance.

    Policy & regulationReform agendas & prioritiesMarket developmentMarket infrastructure
  • 2025-02-26Saudi ArabiaMinistry of Finance (Saudi Arabia)

    Saudi Arabia's Ministry of Finance chairs the Kingdom’s delegation at the first G20 finance ministers and central bank governors meeting under South Africa’s presidency

    Saudi Arabia's Finance Minister, Mohammed Aljadaan, will lead the Kingdom's delegation to the G20 Finance Ministers and Central Bank Governors meeting in Cape Town on February 26-27, 2025. The delegation includes officials from the Ministry of Finance and the Saudi Central Bank. The meeting will address the global economic outlook, international financial architecture, infrastructure, sustainable finance, international taxation, and financial sector issues.

    Policy & regulationCooperation
  • 2025-02-26NetherlandsDutch Authority for the Financial Markets

    Dutch Authority for the Financial Markets flags widespread homeowner misconceptions about paying for uninsurable foundation damage

    The Dutch Authority for the Financial Markets' Consumer Monitor reveals many mortgage holders underestimate foundation risks, wrongly expecting repair costs to be covered by insurers or the government. The report links these misconceptions to climate-related risks, noting around 425,000 buildings could face moderate to severe foundation damage by 2035. The AFM advises homeowners to proactively assess their foundation's condition to understand potential damage risks.

    Financial literacy & educationOther
  • 2025-02-26EuropeCommittee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)

    MONEYVAL launches typologies project on virtual assets and virtual asset service providers in money laundering and sanctions evasion

    The Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL) has initiated a project to investigate the use of virtual assets and service providers in laundering criminal property and evading financial sanctions. The project, involving representatives from several countries, aims to enhance understanding of virtual asset-related risks and aligns with Financial Action Task Force Recommendation 15 and the Travel Rule. A preliminary draft report is expected by December 2025, with final adoption in the second quarter of 2026.

    Policy & regulationImplementation, projects & pilotsAML and CFT
  • 2025-02-26PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan says 18 Ijarah Sukuk auctions through capital market institutions raised PKR 2.25 trillion

    The Securities and Exchange Commission of Pakistan (SECP) supported the Debt Management Office in conducting 18 auctions of Ijarah Sukuk, raising PKR 2.25 trillion since December 2023. This follows the Ministry of Finance's decision to use capital market institutions for Shariah-compliant government debt issuance and trading, requiring regulatory changes and new processes. SECP will continue collaborating with the Ministry of Finance to develop Pakistan’s domestic debt market.

    Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
  • 2025-02-26LuxembourgLuxembourg Commission de Surveillance du Secteur Financier

    Luxembourg Commission de Surveillance du Secteur Financier restricts U1.1 reporting submissions to specified transmission methods from 28 February 2025

    The Luxembourg Commission de Surveillance du Secteur Financier reiterated that from 28 February 2025, U1.1 reports must be submitted exclusively via approved methods. Stakeholders are advised to consult the user guide for submission procedures.

    SupervisionRegulatory reporting
  • 2025-02-26United StatesNational Association Of Insurance Commissioners

    National Association of Insurance Commissioners releases 2021–2022 Auto Insurance Database Report on US premiums, losses and state averages

    The National Association of Insurance Commissioners released its 2021–2022 Auto Insurance Database Report, noting a national average premium per vehicle of USD 1,258 in 2022, a 5.75% increase from 2021. The report highlights a 19.4% rise in total liability incurred losses to USD 103.8 billion in 2021 and an 18.6% increase in average incurred loss per collision claim from 2020 to 2021. The NAIC cautions against direct state comparisons due to varying underwriting costs, driving conditions, and state insurance laws.

    Data & statisticsActivity and performance reporting
  • 2025-02-26NorwayDepartment of Finance (Norway)

    Norway's Ministry of Finance launches consultations on MiFID II and MiFIR review changes and EEA rules for financial supervision and CCP crisis management

    Norway's Ministry of Finance has launched consultations on changes to securities market rules, EEA financial supervision, and central counterparties' recovery and resolution. Proposed amendments to the Securities Trading Act aim to enhance investor access to market data, while changes to EEA financial supervision and central counterparties' regulations align with EU obligations. These initiatives seek to strengthen market infrastructure, preserve critical functions, and maintain financial stability.

    Policy & regulationRules & requirementsSecurities offerings and listings
  • 2025-02-26PortugalBank of Portugal

    Bank of Portugal publishes 2024 direct investment statistics showing EUR 13.2bn inward flows and an inward stock of EUR 200.3bn

    The Bank of Portugal reported that foreign direct investment into Portugal reached EUR 13.2bn in 2024, with Portuguese direct investment abroad at EUR 7.2bn. Inward investment was primarily driven by equity capital and real estate, with Spain, Luxembourg, and the Netherlands as major investors. Direct investment income paid to non-residents was EUR 12.0bn, while income received was EUR 5.4bn.

    Data & statisticsBalance of payments and other external statistics
  • 2025-02-26GhanaSecurities and Exchange Commission Ghana

    Securities and Exchange Commission Ghana issues 2025 market levy guidelines setting operator fees and transaction and admission levies

    The Securities and Exchange Commission Ghana has issued Guidelines on Market Levies for 2025, detailing annual levies for market operators and transaction and admission levies. Key levies include GH¢ 50,000 for stock exchanges and securities depositories, and 0.018% admission levy on fixed-income securities. Operators must remit payments within specified timelines, with non-compliance subject to enforcement under the Securities Industry Act.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-02-26KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves Andrey Zavarzin as Halyk Bank deputy chair for information technology

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Andrey Vladimirovich Zavarzin's appointment as Deputy Chair and Management Board member of JSC Halyk Bank of Kazakhstan, focusing on information technology.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-02-26Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission backs 2025-26 budget measures and flags listing regime work and index-derivatives position-limit consultation

    The Hong Kong Securities and Futures Commission endorsed the 2025-2026 budget measures and outlined initiatives, including collaboration with Hong Kong Exchanges on a new channel for tech and biotech issuers. Key focuses include reviewing listing requirements, a roadmap for fixed income and currency markets, and guidance for the virtual asset market. The SFC plans a market consultation on raising position limits for exchange-traded index derivatives and a flagship forum for fixed income and currency markets later this year.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-02-26AustriaAustrian National Bank (OeNB)

    Austrian National Bank agrees with the Austrian Association of Municipalities to install up to 120 new rural ATMs

    The Austrian National Bank (OeNB) has entered a five-year agreement with the Austrian Association of Municipalities to deploy up to 120 OeNB-owned ATMs in rural areas lacking cash-withdrawal facilities. This initiative aims to enhance cash access and security standards, prioritizing municipalities based on size, distance to the nearest ATM, and infrastructure. Up to 60 ATMs are planned for initial deployment, with further installations to follow.

    Policy & regulationImplementation, projects & pilotsCurrency and cash management
  • 2025-02-26GlobalCDP

    CDP cautions EU Omnibus simplification package against narrowing CSRD scope and weakening CSDDD obligations

    CDP criticized the European Commission’s Omnibus Simplification Package, warning it could weaken sustainability disclosure and market transparency. The organization opposed removing sector-specific standards and reducing the scope of the Corporate Sustainability Reporting Directive (CSRD), emphasizing the need for robust data for environmental risk assessment. CDP also cautioned against delaying Corporate Sustainability Due Diligence Directive (CSDDD) obligations, highlighting its importance for company action.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-02-26IndonesiaMinistry of Finance (Indonesia)

    Indonesia’s Ministry of Finance marks the inauguration of the country’s first bullion bank services at Pegadaian and Bank Syariah Indonesia

    Indonesia's Ministry of Finance announced the inauguration of the country's first bullion bank services by President Prabowo Subianto, with operations by Pegadaian and Bank Syariah Indonesia. This initiative aims to bolster the national gold industry and support the government's Asta Cita programme, projecting an IDR 245 trillion GDP increase and 1.8 million new jobs.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-02-26Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent Chong Hing Bank website and internet banking login screen

    The Hong Kong Monetary Authority (HKMA) issued a public alert regarding a fraudulent website and internet banking login screen linked to Chong Hing Bank Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who interacted with the fraudulent site are advised to contact Chong Hing Bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-02-26Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent China Construction Bank Asia website and internet banking login screen

    The Hong Kong Monetary Authority (HKMA) has issued an alert regarding a fraudulent website and internet banking login screen linked to China Construction Bank (Asia) Corporation Limited. The HKMA emphasized that banks will not request sensitive information through SMS, email, or embedded hyperlinks. Individuals who interacted with the fraudulent site are advised to contact the bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-02-26Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns the public about phishing instant messages linked to Industrial and Commercial Bank of China (Asia)

    The Hong Kong Monetary Authority (HKMA) issued a public alert about phishing messages linked to Industrial and Commercial Bank of China (Asia) Limited. The HKMA stressed that banks will not send SMS or emails with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who responded to such messages should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.

    SupervisionAlertsFraud and scams
  • 2025-02-26Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns public about fraudulent Shanghai Commercial Bank website and internet banking login screen

    The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen reported by Shanghai Commercial Bank Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals should contact the bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-02-26Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority updates AML/CFT Handbook and revises sector guidance to reflect October 2024 legislative changes

    The Isle of Man Financial Services Authority has updated its Anti-Money Laundering and Countering the Financing of Terrorism Handbook, incorporating minor amendments and enhanced clarity post-legislative changes. Key updates include colour-coded guidance, clarified Customer Risk Assessment, and revised sector-specific guidance for accountancy, tax advisors, and moneylenders. A comprehensive review of sector-specific guidance is anticipated after the Island's National Risk Assessment publication.

    Policy & regulationGuidance & interpretationAML and CFTRegulatory reporting
  • 2025-02-26UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan and UNDP agree pilot projects to expand digital financial inclusion for rural women

    The Central Bank of the Republic of Uzbekistan and a United Nations Development Programme delegation agreed to implement pilot projects to enhance financial literacy and integrate financial education into ongoing initiatives. The cooperation aims to improve digital inclusivity and access to financial services for women in rural areas, utilizing multiple channels and potential sociological research to identify behavioural factors.

    Policy & regulationCooperationFinancial inclusionFinancial literacy and education
  • 2025-02-26UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan publishes working paper estimating the natural rate of interest around 4 percent

    The Central Bank of the Republic of Uzbekistan released a working paper estimating the country's natural rate of interest at approximately 4.0%. The analysis, conducted by I. Inkhomiddinov, utilized the Holston-Laubach-Williams model, a modified version, and the Central Bank’s Quarterly Projection Model, yielding estimates of 4.5%, 4.1%, and 3.4% respectively.

    Research
  • 2025-02-26ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission coordinates claims support and confirms cover after Prachinburi bus crash with 18 dead and 31 injured

    The Thailand Office of Insurance Commission (OIC) deployed teams to assist victims of a bus accident in Prachinburi province, focusing on verifying insurance coverage and expediting claims via its electronic platform. The bus was insured with Mittare Insurance Public Company Limited under compulsory and voluntary Type 3 motor insurance. The OIC is coordinating with insurers to settle hospital bills directly and is working with insurance associations to identify additional compensation policies.

    SupervisionInterventionsOther
  • 2025-02-26EuropeEuropean Central Bank

    European Central Bank working paper finds COVID-19 mortgage forbearance lifted consumption most for low-wealth and ineligible households

    The European Central Bank's Working Paper No 3034 examines COVID-19 debt forbearance using data from a Portuguese bank, revealing increased household consumption and bank deposits, with significant heterogeneity among households. Financially fragile households were more likely to enter forbearance, with liquid wealth being a stronger predictor of take-up than pandemic wage declines. Post-moratoria, consumption and deposit saving adjustments were incomplete, with a small fraction of borrowers opting for additional relief measures.

    ResearchLendingConsumer and investor protection
  • 2025-02-26EuropeEuropean Central Bank

    European Central Bank publishes CAMEG 2024 conference abstracts and outlines next wave of crypto-asset monitoring work

    The European Central Bank released an Occasional Paper summarizing the inaugural Crypto-Asset Monitoring Expert Group (CAMEG) conference and recent analytical work on crypto-asset monitoring. The paper concludes that crypto-asset risks are limited and manageable within existing frameworks but highlights the need for enhanced monitoring and preparedness. CAMEG's next phase will focus on early warning indicators and expanding membership beyond the Eurosystem.

    ResearchSupervision process and methodologies
  • 2025-02-26JordanJordan Securities Commission

    Jordan Securities Commission holds workshop with Central Bank of Jordan on subscription mechanisms for government securities

    The Jordan Securities Commission, in collaboration with the Central Bank of Jordan, conducted a workshop to educate financial services employees on subscribing to and managing government securities, now tradable on the Amman Stock Exchange. The initiative aims to expand investment tools, including government bonds and Islamic sukuk, for retail and institutional investors.

    Policy & regulationImplementation, projects & pilotsMarket development
  • 2025-02-26IsraelBank of Israel

    Bank of Israel proposes voluntary NIS 1.5 billion annual bank-funded relief program for retail customers in 2025 and 2026

    The Bank of Israel proposed a voluntary program for banks to allocate NIS 1.5 billion annually in 2025 and 2026 to finance relief measures for retail customers, with allocations based on market share. The program aims to eliminate the need for specific taxation and legislative processes, while enhancing competition by removing barriers and advancing infrastructure.

    Policy & regulationGuidance & interpretationMarket development
  • 2025-02-26IraqCentral Bank of Iraq

    Central Bank of Iraq AML/CTF Office holds workshop to improve reporting quality in line with FATF and mutual evaluation findings

    The Central Bank of Iraq’s Anti-Money Laundering and Terrorism Financing Office conducted a workshop to enhance report quality from reporting authorities, focusing on Financial Action Task Force requirements and Iraq’s mutual evaluation process. The workshop included an analytical study methodology and input from international expert Lotfi Hashisha on upcoming procedures and a dashboard to assess their impact over the next six months.

    Policy & regulationGuidance & interpretationRegulatory reporting
  • 2025-02-26IraqCentral Bank of Iraq

    Central Bank of Iraq governor outlines steps toward a national digital currency as financial inclusion rises to 40%

    The Central Bank of Iraq's Governor, Ali Mohsen Al-Alaq, announced advancements in electronic payments and outlined plans for banking digitalisation, including a central bank digital currency and a domestic data centre, at the ninth Finance and Banking Services Exhibition and Conference. He noted a rise in financial inclusion to 40% and emphasized the shift towards digital payments and smart digital platforms.

    Policy & regulationReform agendas & prioritiesFinancial inclusionPayments and payment systems
  • 2025-02-26United StatesNew York State Department of Financial Services

    New York State Department of Financial Services adopts behavioral health network adequacy rules with 10-business-day access standard effective July 1 2025

    The New York State Department of Financial Services and the Department of Health have adopted regulations mandating maximum wait times for behavioral health services, ensuring initial appointments within 10 business days or seven days post-hospital discharge. Insurers must offer out-of-network coverage at in-network rates if these timeframes are unmet and enhance provider directories with detailed information. The regulations apply to commercial health insurance plans and take effect on July 1, 2025, with similar rules proposed for health maintenance organizations.

    Policy & regulationRules & requirementsOther
  • 2025-02-26ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision orders blocking of five unauthorised insurance intermediation websites

    The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of illegal insurance intermediation through five websites and instructed providers in Italy to block access. The blocking process may take several days due to technical reasons. IVASS has issued cessation orders for 208 websites since November 2023 and advises consumers to verify insurance offers with authorized intermediaries.

    SupervisionInterventionsUnlicensed or unauthorized activity
  • 2025-02-26South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission and Financial Supervisory Service propose limiting equity linked security sales to qualified bank branches and tightening suitability controls

    South Korea's Financial Services Commission and Financial Supervisory Service proposed measures to prevent mis-selling of complex financial products after losses from Hong Kong index-linked securities. Proposals include restricting bank distribution, enhancing suitability and disclosure practices, and tightening internal controls and monitoring. Key measures involve qualified branches for ELS sales, consumer protection standards, and redesigning KPIs to reduce short-term sales focus.

    Policy & regulationGuidance & interpretationSales and distribution
  • 2025-02-26AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority publishes January 2025 insurance statistics with gross written premiums up 11.37% and claims paid up 12.95%

    The Albania Financial Services Authority's January 2025 Statistical Bulletin reports an 11.37% increase in gross written insurance premiums to ALL 1,976 million and an 18.75% rise in concluded insurance contracts. Non-life insurance dominated with 90.38% of premium volume, while compulsory insurance accounted for 60.56% of premiums. Motor insurance claims reached ALL 515 million, representing 75.07% of total claims, with notable increases in average claim sizes.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-26GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission notes issuance of a new Russia sanctions general licence replacing an expiring licence

    The Guernsey Financial Services Commission announced the issuance of general licence GY/RUSSIA/2025/GL1 under the Russia sanctions regime, replacing the expiring GY/RUSSIA/2024/4. This licence was issued under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, as implemented in Guernsey through the Brexit Regulations 2020.

    Policy & regulationRules & requirements
  • 2025-02-26GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission updates Russia sanctions notice after UK delists Francois Edouard Mauron

    The Guernsey Financial Services Commission announced the removal of Francois Edouard Mauron from the UK Russia financial sanctions regime, lifting his asset freeze, travel ban, and trust services sanctions. The consolidated list has been updated to reflect this change. UK sanctions regulations are implemented in the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020.

    EnforcementSanctions & designationsSanctions list update
  • 2025-02-26PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission renders effective Megawide’s registration for up to PHP 5.95 billion preferred shares offering

    The Philippine Securities and Exchange Commission approved Megawide Construction Corporation's public offering of Series 6 preferred shares, allowing for 30 million shares with an oversubscription option of up to an additional 30 million. Priced at PHP 100 each, the shares could raise up to PHP 5.95 billion if fully subscribed. Proceeds will fund pipeline projects, share redemption, and general corporate purposes, with the offering scheduled from 10 to 19 March and listing on the Philippine Stock Exchange Main Board on 28 March.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-02-26CroatiaCroatian Financial Services Supervisory Agency

    Croatian Financial Services Supervisory Agency approves Čakovečki mlinovi takeover bid for Zagrebačke pekarne Klara at EUR 120.25 per share

    The Croatian Financial Services Supervisory Agency approved Čakovečki mlinovi d.d.'s takeover bid for Zagrebačke pekarne Klara d.d. at EUR 120.25 per share. Čakovečki mlinovi, holding 244,294 shares, aims to acquire the remaining 39,466 shares. The offeror collaborates with several entities, including Mlin i pekare d.o.o. and Allianz ZB d.o.o.

    SupervisionAuthorisations & approvalsSecurities offerings and listings