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2025-01-30•India•Reserve Bank of India
The Reserve Bank of India has revised its framework for monetary penalties and compounding contraventions under the Payment and Settlement Systems Act, 2007, effective immediately. It outlines contraventions that may trigger penalties, including unauthorized operations and non-compliance with Reserve Bank directions, with penalties up to INR 1 million or more. It also provides for compounding of eligible contraventions, with amounts payable within 30 days and mandatory disclosures in financial statements and Reserve Bank press releases.
Policy & regulationRules & requirements
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2025-01-30•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission reported on its response to a fatal collision in Ang Thong province, confirming insurance coverage for the involved vehicles and coordinating benefits access. Both vehicles had compulsory motor insurance, with the Bangkok-registered vehicle also holding a voluntary type 1 policy. The Office is working with insurers and associations to verify additional coverage and facilitate benefit distribution, while the case is under police investigation.
SupervisionInterventionsOther
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2025-01-30•Thailand•Thailand Office of Insurance Commission
Thailand’s Office of Insurance Commission reported its Secretary-General, Chuchart Pramoolpol, participated in the 29th Insurance Seminar focused on "Managing Emerging Risks." The event aimed to raise awareness of future risk factors and foster dialogue among industry leaders on risk management trends. The Commission emphasized its commitment to promoting a stable insurance sector and enhancing risk management in the digital era.
Policy & regulationImplementation, projects & pilotsRisk management
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2025-01-30•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has revoked Joint Stock Company KIWI BANK's licence as a payment system operator due to the termination of the CONTACT payment system. The Payment System Department has been instructed to update the relevant registers accordingly.
SupervisionAuthorisations & approvalsLicence approval
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2025-01-30•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan granted LLC RSM Tajikistan a licence to audit insurance and reinsurance organisations. The Insurance Supervision Department will record the firm in the registers of authorised audit organisations and licensing documents.
SupervisionAuthorisations & approvalsAuditing
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2025-01-30•Middle East•Arab Monetary Fund
The Arab Monetary Fund's December 2024 Monthly Bulletin reports a 1.03% increase in its Composite Index for Arab capital markets, driven by declining interest rates, lower inflation, and increased investment activity. Gains were noted in ten exchanges, with the Dubai Financial Market leading at 6.42%, while four exchanges saw declines, with Damascus experiencing the largest drop at 7.64%.
Data & statisticsFinancial and market indicatorsMarket development
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2025-01-30•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino joined a Sammarinese Banking Association roundtable on the EU Association Agreement, highlighting it as a pathway for San Marino’s financial system to access the EU single market. CBSM President Catia Tomasetti emphasized the importance of coordinated efforts among financial institutions and expressed confidence in San Marino's readiness to meet necessary assessments for market access.
Policy & regulationCooperationCross-border cooperation
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2025-01-30•South Africa•South African Reserve Bank
The South African Reserve Bank released its International Reserves Template for December 2024, detailing official reserve assets at USD 65,459 million. Other foreign currency assets totaled USD 23 million, with significant predetermined net drains on foreign currency assets within one year. The memorandum highlighted USD 62,340 million in SDR-basket currencies, including gold.
Data & statisticsBalance of payments and other external statistics
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2025-01-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has implemented regulatory relief for banks affected by Tropical Storm Kristine and Super Typhoons Leon, Ofel, and Pepito. Measures include a temporary grace period of up to six months for affected borrowers and exclude these loans from past-due and non-performing loan ratios, while maintaining prudential reporting. Thrift, rural, and cooperative banks will not face penalties for legal reserve deficiencies from 18 October 2024 for six months.
Policy & regulationRules & requirementsOther
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2025-01-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) issued Ordinance 84/2025, allowing associations representing pension plan participants and beneficiaries to be admitted as "interested parties" in administrative proceedings by PREVIC’s Licensing Directorate. This ordinance, implementing Article 152(2) of PREVIC Resolution 23/2023, aims to enhance access to information and participation during the licensing process. It became effective on 30 January 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-01-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has updated its Open Data Portal to include new and revised datasets for investment funds, reflecting the transition to CVM Resolution 175. This includes expanded data on share class structures and share capital composition for listed companies. The update also introduces new datasets for private equity funds and enhances reporting for various fund types.
Data & statisticsRegulatory reporting
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2025-01-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) reported a record BRL 966.8 billion in securities issuance for 2024, a 49% increase from 2023, driven by fixed-income and securitisation issuances. CVM-regulated participants rose 3.7% to 89,771, and the investment fund industry expanded to 31,952 funds, adapting to CVM Resolution 175. The total regulated market value was estimated at BRL 40.32 trillion, with significant growth in secondary markets and crowdfunding issuances.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan conducted a currency auction where demand reached USD 47.4 million, fully satisfied at a volume-weighted average exchange rate of 1.7000 manat per USD.
Monetary policyMonetary policy instruments & operationsForeign exchange policy and markets
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2025-01-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has formed working groups within financial sector associations to enhance consumer rights and expedite dispute resolution. These groups, under associations like the Azerbaijan Banks Association and Azerbaijan Insurers Association, aim to ensure legal compliance and improve handling of citizen appeals. An online meeting on 27 January discussed their operations and future plans, including proposals for safeguarding financial services consumers and investors.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-01-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan announced the World Bank Group's approval of a new 2025–2029 Country Partnership Framework for Azerbaijan. The framework aims to support a transition to a greener, more inclusive economy by strengthening economic resilience, promoting sector reforms, and enhancing financial resource management.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-01-30•Malawi•Reserve Bank of Malawi
The Reserve Bank of Malawi has revoked Carrick Wealth Limited’s registration as an investment adviser, citing the firm's cessation of business activities in Malawi. The action was taken under sections 26(1)(c) and 27(1)(h) of the Financial Services Act. The Registrar cautioned that engaging with Carrick Wealth Limited is at one's own risk.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-01-30•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay met with farm sector groups to review support measures for producers facing climate-related pressure ahead of the 2024/2025 crop season. It pointed to its Jan. 24 resolution allowing drought-affected producers to renew, refinance or restructure loans without harming their credit classification, subject to individual analysis in higher-risk cases. The bank said it may take further measures if conditions worsen.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-01-30•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the removal of Nikolay Ivanovich Bortsov from the UK Russia financial sanctions regime, lifting asset freeze, travel ban, and trust services sanctions. The UK consolidated list has been updated, and UK sanctions regulations continue to apply in Guernsey under the Brexit Regulations, 2020.
EnforcementSanctions & designationsSanctions list update
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2025-01-30•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) released its third Climate Change Adaptation Report, assessing banks' and insurers' progress in managing climate-related financial risks since October 2021. The report identifies areas needing improvement, such as governance consistency, risk management tools, and climate scenario analysis, and highlights the need for firms to integrate climate risks into capital adequacy assessments. A consultation on updating Supervisory Statement 3/19 is planned for 2025 to clarify expected outcomes for firms.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-01-30•Global•United Nations Environment Programme Finance Initiative
The United Nations Environment Programme Finance Initiative has launched the "Banking on Sustainability: From Principles to Practice" case study series and videos to aid member banks in implementing the UN Principles for Responsible Banking. Additionally, the "Responsible Banking Blueprint" provides a roadmap for action across climate, nature, biodiversity, and human rights, complementing UNEP FI’s strategy note by organizing responsible banking ambitions across seven key areas.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-01-30•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website https://www.worldinvest.org/#/ and the entity "Worldinvest Limited," which falsely claim FSA authorization and regulation. The FSA clarified that the entity is unknown to them and lacks a valid license. The public is advised to thoroughly research entities before engaging in business or sharing personal information.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-01-30•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has unveiled its Strategic Plan for 2025–2027, focusing on enhancing market confidence, digital technology, sustainability, long-term investment, and operational excellence. Key measures include stronger enforcement, improved investigative capabilities, and forthcoming share pledging regulations. The plan also emphasizes digital asset innovation, investor protection, and sustainability initiatives.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-01-30•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Royal Canadian Mounted Police charged a British Columbia resident with laundering CAD 47 million from illicit cannabis sales in Alberta and British Columbia. Charges include laundering proceeds of crime, failing to register with FINTRAC, and unauthorized possession of cannabis for sale.
EnforcementInvestigations & enforcement actions
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2025-01-30•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority issued guidance on avoiding "thought traps" leading to unnecessary purchases. Authored by economist Moa Langemark, it addresses invoice assumptions, impulsive buying, and reluctance to return goods. It advises spending within means, being wary of deferred payments, and recognizing sales tactics.
Financial literacy & educationConsumer and investor protection
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2025-01-30•Sweden•Finansinspektionen
In 2025, Sweden's Finansinspektionen will review if firms offering savings products comply with conduct rules, focusing on product suitability and "value for money." This follows numerous 2024 consumer complaints, especially about derivatives like CFDs, and concerns about alternative funds and unlisted shares. The assessment will also examine how firms manage conflicts of interest to prioritize consumer needs over compensation.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-01-30•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) is reviewing banks' compliance with providing consumers payment accounts, following concerns about refusals and closures. The review involves Handelsbanken, Nordea, SEB, and Swedbank, focusing on their 2023 and 2024 practices and balancing this duty with anti-money laundering responsibilities. Finansinspektionen is also considering further measures, like enhanced statistics on account refusals and terminations.
SupervisionReviews, inspections & stress testsFinancial inclusion
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2025-01-30•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that Wiser-Investment.co is not registered to deal or advise in securities in New Brunswick. The alert highlights the use of multiple names by the entity and advises investors to verify registration through the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-01-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority announced reforms to modernize Egyptian Accounting Standards, aligning them with international practices. Updates include amendments to EAS 34 on investment property, EAS 13 on foreign exchange effects, and EAS 47 on financial instruments, plus a new interpretation for carbon emission reduction certificates. Chairman Mohamed Farid emphasized ongoing standards-setting efforts and the critical role of external auditors in maintaining corporate financial reporting integrity.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-01-30•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority fined Interoil Exploration and Production ASA NOK 800,000 for errors in Q1 2024 financial reporting. The company wrongly recognized 100% of sales revenue from a joint operation instead of its 51% share, violating IFRS 11, and failed to meet IAS 8 and IAS 34 requirements in its half-year report. These errors significantly impacted reported revenue and profit figures, and the company did not respond to the authority's notice of proposed penalty.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-01-30•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) will apply a Swedish macroprudential measure to Norwegian banks using the internal ratings-based approach with significant exposures in Sweden. This mandates a risk-weight floor of 35% for corporate exposures secured by commercial real estate and 25% for those secured by commercial residential property, applicable at both solo and consolidated levels for exposures exceeding SEK 5 billion. The decision follows a reassessment after Norwegian banks' exposures in Sweden surpassed the materiality threshold.
SupervisionInterventionsMacroprudential policy and tools
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2025-01-30•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has ordered internet providers to block access to six websites offering unauthorised financial services in Italy, using its statutory powers. This action brings the total number of blocked websites to 1,211 since July 2019. Consob advises investors to ensure service providers are authorised and that a prospectus is available for financial products.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-01-30•Russia•Central Bank of Russia
The Central Bank of Russia and Moscow Exchange have launched a shareholder value creation programme for Russian public joint-stock companies, establishing a "benchmark issuer" group and a dedicated stock index. The initiative aims to support corporate best practices, with participation open to issuers on Moscow Exchange’s Level One and Level Two lists. A committee will assess applications based on governance, transparency, and financial indicators, with annual status reconfirmation required.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2025-01-30•Russia•Central Bank of Russia
The Central Bank of Russia has doubled the property-based asset threshold for qualified investor status from RUB 6 million to RUB 12 million, with a further increase to RUB 24 million effective 1 January 2026. This measure ensures individuals understand the risks of complex financial instruments and is part of broader reforms to expand qualification pathways based on knowledge and experience. The ordinance was registered by the Russian Ministry of Justice.
Policy & regulationRules & requirements
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2025-01-30•Russia•Central Bank of Russia
The Central Bank of Russia's December 2024 review shows cooling credit dynamics, with corporate and unsecured consumer loan portfolios contracting and modest mortgage growth. Corporate loans fell 0.2% due to foreign-currency repayments, while unsecured consumer lending dropped 1.9% amid macroprudential measures and higher rates. Banks' net profit decreased to RUB 187 billion, impacted by foreign-exchange revaluation losses and increased operating expenses.
ResearchLending
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2025-01-30•Russia•Central Bank of Russia
The Central Bank of Russia reported a decrease in the current account surplus for Q4 2024, attributed to contracting exports and expanding imports. Export values fell due to declining global oil prices and reduced oil production under OPEC+ agreements, while imports increased year on year, driven by stronger domestic demand.
Data & statisticsBalance of payments and other external statistics
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2025-01-30•Argentina•Argentina Securities Commission (CNV)
Roberto E. Silva, president of the Argentina Securities Commission (CNV), announced progress on regulating virtual asset service providers at the Pioneering Progress 2025 event in San Salvador. He also engaged with El Salvador’s National Commission of Digital Assets to enhance technical cooperation. Discussions included PSAV registration, innovation-linked regulation, stablecoins, digital currencies, and tokenisation of real-world assets.
Policy & regulationRules & requirementsFintech and insurtechRegtech and suptech
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2025-01-30•United States•U.S. Securities & Exchange Commission
The SEC’s Small Business Capital Formation Advisory Committee will meet on 25 February 2025 to discuss capital-raising challenges for emerging fund managers and small public companies not listed on national exchanges. The meeting will feature an overview of the SEC Office of the Advocate for Small Business Capital Formation’s 2024 Annual Report and discussions with industry experts. The event will be publicly accessible via webcast on the SEC’s website.
Policy & regulationOtherSME financing
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2025-01-30•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission appointed Natalia Díez Riggin as Senior Advisor and Acting Director of the Office of Legislative and Intergovernmental Affairs. Riggin brings extensive experience from the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and her expertise is expected to aid the SEC in capital formation and regulatory efficiency.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-30•Malta•Malta Financial Services Authority
The Malta Financial Services Authority released a Strategic Update on its 2023–2025 Strategic Statement, highlighting milestones achieved by June 2024 and areas lagging. Key developments include enhanced supervision, regulatory process improvements, and increased engagement with policymakers and licensed entities. The update also covers sector-specific governance codes, supervisory guidelines, and advancements in sustainable and digital finance.
Institutional developmentOther
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2025-01-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) outlined its 2025 governance priorities for superannuation trustees, emphasizing scrutiny on member money expenditure and announcing a review to consolidate governance standards across banking, insurance, and superannuation. APRA released 2024 fund-level expenditure data and highlighted the need for improvements in valuation governance and liquidity risk frameworks among trustees, with plans to update Governance SPS 510 and Fit and Proper SPS 520 standards.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-01-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) released its 2024 annual superannuation statistics, now including fund-level expenditure and detailed insurance data. Total industry expenditure reached AUD 12.7 billion, a 15% increase from the previous year, with APRA using this data to assess spending where member benefits may not be evident.
Data & statisticsActivity and performance reporting
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2025-01-30•Global•Financial Action Task Force
The Financial Action Task Force (FATF) released its 2023-2024 annual report, highlighting efforts to enhance the international financial system's integrity under the Singapore presidency. Key initiatives include risk-based mutual evaluations, strengthening beneficial ownership transparency, and addressing emerging risks like cyber-enabled fraud and terrorism financing. The report also notes a list of jurisdictions with significant virtual asset service provider activity and the transition of FATF presidency to Elisa de Anda Madrazo.
Policy & regulationInternational standards & recommendationsAML and CFTBeneficial ownership
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2025-01-30•Denmark•National Bank of Denmark
The National Bank of Denmark reported that Danish private investors in equity funds earned a 19.7% return in 2024, driven largely by gains in US technology stocks like NVIDIA, Apple, and Amazon. Bond funds returned 4.3%, and mixed funds 10.6%, benefiting from falling interest rates that led to capital gains and positive bond returns.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-30•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) recommends updating Solvency II standard formula calibrations for natural catastrophe underwriting risk, using recent climate data and advanced risk modelling. The proposals introduce new risk factors for perils like flood, hail, earthquake, and windstorm across 24 regions, with significant flood risk updates in ten countries. EIOPA submitted these proposals to the European Commission for consideration, following a reassessment mandated by the Solvency II Review.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-01-30•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) advised the European Commission on implementing the amended Solvency II Directive's proportionality framework. The advice supports classifying insurance undertakings as small and non-complex undertakings (SNCUs) and outlines conditions for applying proportionality measures to other (re)insurers. Eligible undertakings can benefit from reduced requirements, with EIOPA endorsing a supervisory regime that adjusts proportionality measures based on specific risk and governance criteria.
Policy & regulationGuidance & interpretationPrudential risksRegulatory burden
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2025-01-30•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority released the Residential Property Price Index for Q4 2024, showing a 0.46% quarter-on-quarter decline to 107.6 points, with an annual decrease of 0.38% compared to Q4 2023. The house price index fell by 0.79% while the apartment price index remained stable. The data exclude the Gaza Strip due to ongoing conflict, and the report highlights that property prices are influenced by specifications, land prices, and location.
Data & statisticsEconomic data and developments
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2025-01-30•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank imposed a EUR 5 million fine on de Volksbank N.V. for significant anti-money laundering control failures under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act. The deficiencies, including inadequate customer monitoring and alert follow-up, persisted from July 2020 to April 2023, despite previous enforcement actions. The fine reflects the bank's size, breach severity, and ongoing remediation efforts.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-01-29•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro and the World Bank are evaluating electronic payments in Montenegro, focusing on service acceptance and usage. Stakeholder discussions will inform recommendations to enhance digital payment uptake, alongside Montenegro's inclusion in the Single Euro Payments Area and a national instant payments system. This assessment is part of the World Bank’s Western Balkans Payments Modernization Project, which includes regional efforts on licensing harmonisation and cybersecurity.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-01-29•Bahamas•Bahamas Securities Commission
The Securities Commission of The Bahamas announced that the Supreme Court approved a claim subordination agreement with the joint official liquidators of FTX Digital Markets Ltd, prioritizing customer and creditor recoveries over the Commission’s USD 221.55 million regulatory penalties claim. This ensures payments to customers and creditors, including interest, precede the Commission’s claim. The penalties relate to breaches of the Digital Assets and Registered Exchanges Act and the Financial Transactions Reporting Act.
EnforcementInvestigations & enforcement actions
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2025-01-29•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported a 12.5% increase in remittance inflows for 2024, totaling USD 5.2431bn. The United States was the largest source, contributing 82.8% of the total, followed by Costa Rica and Spain. Managua received the highest share of domestic remittances at 25.4%.
Data & statisticsBalance of payments and other external statistics
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2025-01-29•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's December 2024 Indicators of the Banking and Finance System reported strong performance with double-digit growth in credit and public deposits, improved asset quality, and profitability. Liquidity and solvency remained above regulatory limits, with a liquidity ratio of 32.4% and capital adequacy at 18.4%. Public deposits rose by 10.3% to NIO 239,015.6 million, and the credit portfolio grew by 19.3% to NIO 212,525.6 million.
Data & statisticsActivity and performance reporting
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2025-01-29•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama plans to optimize the bank account opening process by analyzing the regulatory framework and market context with local banks. The initiative aims to align account opening and customer due diligence with a digital environment, adhering to international standards. This may lead to updates to agreements and operational guidance, ensuring compliance with anti-money laundering and counter-terrorist financing requirements.
Policy & regulationImplementation, projects & pilotsAML and CFTFinancial inclusion
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2025-01-29•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported a significant rise in monetary financial institutions deposits and loans for December 2024, with deposits increasing by EUR 1,977.4 million and loans by EUR 503.2 million. The annual growth rates for deposits and loans reached 6.6% and 2.8%, respectively, influenced by seasonal factors. Cyprus residents' deposits grew by EUR 877.2 million, primarily from households, while loans to residents increased by EUR 150.7 million, driven by household and non-financial corporation lending.
Data & statisticsMonetary data
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2025-01-29•India•Reserve Bank of India
The Reserve Bank of India revised the framework for Housing Finance Companies (HFCs) issuing non-convertible debentures (NCDs) through private placements, aligning it with the Non-Banking Financial Company (NBFC) framework. The updated guidelines replace the previous HFC-specific framework and apply to all new private placements from the circular's issuance date.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-01-29•Greece•Bank of Greece
The Bank of Greece reported December 2024 statistics showing an increase in total credit growth to 5.3% and stable deposit growth at 4.6%. The private sector saw a net credit flow of EUR 3.048bn, with annual growth slowing to 8.9%. Total deposits increased by EUR 5.243bn, with private-sector deposits rising by EUR 5.654bn, though their annual growth rate slightly decreased to 4.5%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-01-29•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo, led by Deputy Governor Dardan Fusha, participated in the Central Banks and Sovereign Funds Forum in Luxembourg. The delegation held bilateral meetings to enhance reserve management and explore PayPal services in Kosovo. Discussions with Clearstream Banking SA and PayPal focused on establishing account relationships and enabling international payment access for Kosovo's citizens and businesses.
Policy & regulationCooperationCross-border cooperation
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2025-01-29•Australia•Australian Securities & Investments Commission
The Administrative Review Tribunal upheld the Australian Securities & Investments Commission's decision to disqualify MD Nazrul Islam as an approved SMSF auditor for failing to comply with auditing standards. It emphasized SMSF system integrity and auditors' critical role, warning that inadequate audits could lead to scrutiny and penalties. ASIC can disqualify auditors under the Superannuation Industry (Supervision) Act 1993 if duties are not performed adequately.
EnforcementSanctions & designationsAuditing
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2025-01-29•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) warned against Derwent Investments for unauthorized activities, advising consumers to avoid the firm. The FSMA noted the firm's operations resemble potentially fraudulent boiler room schemes involving unsolicited offers and investment pressure. Consumers should consult FSMA resources to verify compliance with financial legislation.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-01-29•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has initiated the submission of 2023 and 2024 interim financial reports through the Financial Reporting System, adhering to Taxonomy UA XBRL IFRS 2023. Enterprises required to report under International Financial Reporting Standards must file electronically, with templates provided by 1 February 2025. Entities changing their reporting method from 2023 must notify the regulator with their enterprise name and EDRPOU code.
Policy & regulationRules & requirementsRegulatory reporting
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2025-01-29•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) announced a court ruling that the "Regulation tackling flash credit" is not legally binding, allowing EU-based online payday loan providers to bypass the Dutch 14% maximum credit charge rate. These providers relocated to other EU states due to domestic enforcement, prompting the Ministry of Finance's regulatory attempt. The AFM is evaluating the ruling's implications and will consult with the Ministry of Finance on potential actions.
Policy & regulationGuidance & interpretationLending
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2025-01-29•West Africa•Central Bank of West African States
The Central Bank of West African States will host a regional consultation with UMOA high courts on 30 January 2025 to discuss banking and financial regulation. The meeting aims to enhance uniform application of Union laws through dialogue between the central bank and senior judicial leaders. BCEAO Governor Jean-Claude Kassi Brou will chair sessions focused on harmonising Union rules and strengthening synergies between national courts and community institutions.
Policy & regulationCooperationDomestic cooperation
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2025-01-29•Ecuador•Superintendencia de Bancos de Ecuador
Roberto Romero von Buchwald has assumed office as Superintendent of Banks in Ecuador, emphasizing transparency and efficiency in financial supervision. His priorities include enhancing regulation and control policies, modernizing supervisory processes with technology, and extending oversight to social security entities to protect citizens' rights.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-29•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan will host the InsureImpact Conference Pakistan 2025 in Karachi on 12 February, focusing on collaboration and innovation in the insurance sector. The agenda includes discussions on the insurance ecosystem, climate-related insurance, mandatory insurance expansion, health insurance potential, and digitalisation. The conference supports SECP's five-year Strategic Plan, "Journey to an Insured Pakistan," aiming for sector-wide consensus and cooperation by 2028.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-01-29•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) clarified its role in insider trading and market manipulation investigations, stating it has referred completed cases to the Federal Investigation Agency (FIA) under the anti-money laundering framework. The SECP investigates these offences under the Securities Act, 2015, while the FIA handles money laundering aspects under the Anti-Money Laundering Act, 2010. The SECP provided the FIA with details of 27 criminal complaints filed since 2008, emphasizing that referrals identify individuals involved, not issuers or brokerage houses.
Policy & regulationGuidance & interpretationMarket abuse
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2025-01-29•Georgia•National Bank of Georgia
The National Bank of Georgia hosted an international seminar on global economic trends, emphasizing regional challenges and financial stability. Vice Governor Ekaterine Mikabadze highlighted disinflation since early 2023, with inflation below the 3% target, attributing success to flexible and transparent monetary policy. Advisers David Vavra and Douglas Laxton reviewed the monetary policy framework, noting Georgia's effective inflation management compared to advanced economies.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-01-29•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia initiated a workshop to prepare domestic banks for joining the Single Euro Payments Area (SEPA) by October 2025. Governor Anita Angelovska-Bezhoska highlighted SEPA access as a means for North Macedonian banks to engage with European payment systems, facilitating faster and cheaper cross-border transactions. A steering committee within the European Commission’s Directorate-General for Neighbourhood and Enlargement Negotiations will support the process.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-01-29•United States•National Credit Union Administration
National Credit Union Administration Chairman Kyle S. Hauptman appointed Sarah Bang as Chief of Staff and Senior Policy Advisor. Bang, with nearly 40 years of credit union industry experience, previously served as Hauptman's Senior Policy Advisor since December 2020.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-29•Lithuania•Bank of Lithuania
The Bank of Lithuania's December 2024 MFI balance sheet and interest rate statistics show increased resident deposits and lending growth to non-financial corporations and households. Interest rates on new term deposits declined, corporate borrowing costs fell, and household loan rates rose. Transaction-adjusted deposits grew by EUR 898.4 million, with household deposits up EUR 1.3 billion and non-financial corporation deposits up EUR 91.4 million.
Data & statisticsMonetary data
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2025-01-29•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's quarterly Bank Funding Survey shows a rise in retail deposit volumes in most banks in Q4 2024, with some also seeing corporate deposit growth, while average funding costs declined. For Q1 2025, banks expect household deposits to increase slightly, corporate deposit costs to rise, and foreign currency funding to decrease. The survey, covering 96% of banking system assets, highlights profitability as a key driver of anticipated capital growth.
Data & statisticsFinancial and market indicators
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2025-01-29•Laos•Bank of the Lao
The Bank of the Lao conducted a review meeting on its 2024 efforts to monitor and inspect targets suspected of illegal foreign-currency exchange. The session involved the Foreign Exchange Management Department and other relevant entities, focusing on lessons learned and strategies to address non-compliant foreign-currency transactions.
SupervisionSupervision approach, priorities & toolkitOther
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2025-01-29•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau report reveals that U.S. servicemembers incur higher costs and face greater financial risks than civilians when financing vehicles. Analysis of over 20 million auto loans from 2018 to 2022 shows servicemembers typically take out larger loans with smaller down payments, resulting in higher monthly payments over longer terms. Additionally, servicemembers often purchase add-on products, further increasing costs.
ResearchConsumer and investor protection
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2025-01-29•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has rejected Olga Gennadyevna Trubacheva's appointment to a management board position in the securities market, as per protocol No. 218/РУБ/Т dated 27 January 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-01-29•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued a note on cryptocurrency investment risks, highlighting higher risks than traditional assets and potential total loss. It details extreme price volatility, fraud, and cyber risks, citing significant losses like the 2022 FTX collapse and USD 14 billion in scams in 2021. It also highlights the EU’s Markets in Crypto-Assets Regulation, effective 2025, mandating asset segregation, capital requirements, and supervision of crypto providers.
Financial literacy & educationAML and CFTConsumer and investor protection
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2025-01-29•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority (FMA) released a new edition of "Let’s talk about money," highlighting risks with financial influencers on social media. It advises consumers to scrutinize credentials and motives behind financial recommendations, especially regarding paid workshops and affiliate marketing. It warns that "finfluencer" is not a protected term and urges caution with profit promises lacking credible risk disclosure.
Financial literacy & educationConsumer and investor protection
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2025-01-29•Austria•Austria Financial Market Authority
The Austria Financial Market Authority released its Austrian Digital Financial Landscape analysis, highlighting firms' digital risk profiles and ICT interdependencies to guide 2025 supervisory priorities, including EU Digital Operational Resilience Act preparedness. Key findings include widespread cloud service use, growing AI adoption, and significant ICT resilience challenges, particularly in third-party risk management. The FMA's DORA gap analysis shows progress but uneven maturity across sectors.
SupervisionRisk monitoring & watch pointsFintech and insurtechSupervision process and methodologies
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2025-01-29•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) issued five anonymised decisions in administrative infraction proceedings, resulting in four fines of EUR 25,000 and one reprimand. Two cases involved breaches of disclosure duties related to prospectus publication, with partial fine suspensions. Other cases addressed anti-money laundering, financial intermediary duties, and market integrity violations, with varying penalties and suspensions.
EnforcementInvestigations & enforcement actionsDisclosuresAML and CFT
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2025-01-29•Global•International Association of Deposit Insurers
The International Association of Deposit Insurers (IADI) released a community update featuring a Korea Deposit Insurance Corporation research paper on climate risk externalities and an IADI–Financial Stability Institute tutorial on deposit insurance and resolution. The KDIC paper was discussed in an IADI Research Webinar, while the tutorial outlines the role of deposit insurers in managing bank failures.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-01-29•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission is enhancing the Cyprus Stock Exchange by engaging stakeholders in a roundtable to propose measures for revitalizing investor interest and expanding listed securities. Discussions included facilitating start-up listings, introducing government and semi-government bonds, and offering tax incentives. Additional proposals focused on improving financial literacy, upgrading infrastructure, and fostering international market cooperation.
Policy & regulationReform agendas & prioritiesMarket development
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2025-01-29•Australia•Reserve Bank of Australia
The Reserve Bank of Australia has appointed Craig O’Hagan as Head of Audit, effective May, to oversee governance, risk management, and internal controls. O’Hagan joins from KPMG with over 28 years of experience in internal audit and governance across multiple sectors.
Institutional developmentLeadership change & appointmentsAuditingLeadership change and appointments
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2025-01-29•United Kingdom•UK Parliament
The UK House of Lords concluded the report stage of the Data (Use and Access) Bill, adopting amendments for assessment reports on the data commissioner's performance and a 'data dictionary' for consistent definitions. Additional amendments include accuracy obligations for public authorities, regulation of digital verification, and limitations on the scientific research exception for data reuse. Proposals for additional AI safeguards and a digital verification service trust framework were rejected.
Policy & regulationRules & requirementsData protection
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2025-01-29•Europe•European Central Bank
The European Central Bank reported a slowdown in the annual growth rate of broad money M3 to 3.5% in December 2024, down from 3.8% in November. Narrower money M1 increased to 1.8%, and lending momentum improved with adjusted loans to households and non-financial corporations rising to 1.1% and 1.5%, respectively. Household deposits remained stable at 3.5% growth, while deposits from non-financial corporations increased to 2.9%.
Data & statisticsMonetary data
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2025-01-29•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan met with Standard Chartered Bank to discuss cooperation in international reserves management and securing international financing. The meeting addressed global market trends, support for small and medium-sized enterprises, capital market development, and expanding direct financing access for local businesses. Both parties expressed commitment to enhancing cooperation to bolster Uzbekistan's investment potential and economic growth.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-01-29•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan and Standard Chartered Bank reviewed their cooperation, focusing on international reserves management and securing international financing. Discussions included global market trends, SME support, capital market development, and expanding direct financing access for local businesses. Both parties expressed a commitment to deepen their collaboration.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-01-29•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan held an internal meeting to discuss President Emomali Rahmon’s policy address, focusing on banking system tasks and digitalization. Key points included 2024 macroeconomic outcomes, with GDP exceeding TJS 150 billion and real growth of 8.4%, and directives for expanding digital technologies and non-cash payments by 2025. The bank aims to increase lending to over TJS 100 billion by 2027, enhance public confidence, and improve financial access in remote areas.
Policy & regulationImplementation, projects & pilotsOther
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2025-01-29•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has issued a new licence to Open Joint-Stock Company “Mehmonsaroyi Tojikiston” for foreign currency operations at its hotel, invalidating the previous licence No. 08/21 from December 2021.
SupervisionAuthorisations & approvalsLicence approval
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2025-01-29•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait announced the sixth round of its "Certified Shari’a Auditor" Program to enhance Shari’a auditing governance in Kuwait's Islamic banking sector, under the Kafa’a Initiative with Kuwaiti banks. Managed by the Kuwait Institute of Banking Studies, the certification is now a prerequisite for Shari’a auditing in Central Bank of Kuwait- and Capital Markets Authority-regulated Islamic institutions, aligning with 2016 governance rules.
Policy & regulationImplementation, projects & pilotsAuditing
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2025-01-29•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait, in collaboration with the World Bank, hosted the fourth annual conference of the Regional Research Network of central banks in the Middle East and North Africa.
OtherEconomic data and developments
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2025-01-29•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP), represented by Director Jessica Bastos, participated in CNseg’s event on the insurance sector's role in sustainability. Bastos highlighted insurance's potential to promote good practices and discussed SUSEP's 2024 working group findings on ecological transformation, linking them to CNSP Resolution No. 473 on sustainable insurance classification.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-01-29•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority stated that the phased-in reporting obligation under Regulation (EU) 2015/2365 on securities financing transactions will commence on 1 February 2025. This applies to Liechtenstein investment firms, banks, and certain third-country entities, with additional details in Guidance 2022/1.
Policy & regulationRules & requirementsRegulatory reporting
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2025-01-29•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines’ Financial Inclusion Steering Committee has launched the Youth Financial Inclusion Initiative, prioritizing youth under the National Strategy for Financial Inclusion 2022–2028. The initiative includes a YFI Ambassadors Program and a YFI Hackathon to promote financial inclusion and generate solutions to financial challenges. It also addresses financial education, consumer protection, and regulatory support, with a Youth Congress planned for 2025.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-01-29•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has issued cease-and-desist and blocking orders against six unauthorized insurance websites, instructing internet providers in Italy to disable access. This action is part of IVASS's ongoing efforts, with 194 websites targeted since November 2023. IVASS advises consumers to verify the authorization of insurers and intermediaries, especially for online and short-term motor liability policies.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-01-29•Morocco•Central Bank of Morocco
The Central Bank of Morocco has achieved ISO certification for its management systems, including quality, occupational health and safety, environmental, information security, and anti-bribery management. The certification, following an audit by a global firm, covers ISO 9001, ISO 45001, ISO 14001, ISO 27001, and ISO 37001. The Bank plans to continue modernizing and expanding these systems to additional standards.
Institutional developmentCooperation & capacity buildingAuditing
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2025-01-29•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) accepted a BRL 300,000 settlement with RB Investimentos and three directors to resolve an administrative proceeding related to deficiencies in internal controls and risk assessment reports. The CVM Board rejected proposals from Rio Paranapanema Energia S.A. directors over conflicted voting and from a fund manager and investors in a front-running case due to insufficient compensation proposals.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-01-29•Estonia•Central Bank of Estonia
The Central Bank of Estonia announced its regular publication cycle for statistics on savings and loan associations, featuring monthly updates and a separate quarterly release. The quarterly release covers active associations and details changes in assets, loans, deposits, and interest rates, distinct from economic policy releases.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-29•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released 2024 data on the off-exchange market for government securities, highlighting dominance by primary market activities and redemption at maturity. In the secondary market, long-term instruments accounted for 64.17% of volume, with individual investors making up 97.48% of transactions. Notably, "own-account trading when executing client orders" surged 111.65% to ALL 10,019.67 million, despite a decline in transaction numbers.
Data & statisticsFinancial and market indicators
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2025-01-29•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, led by Director General Sou Socheat, met with Cambodia Securities Exchange COO Bae Hueng Soo to discuss support and mechanisms for developing Cambodia’s securities sector.
Policy & regulationCooperationMarket development
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2025-01-29•Tonga•National Reserve Bank of Tonga
The National Reserve Bank of Tonga announced that a court order has set aside a default judgment awarding Tonga Development Bank and others approximately 30 million USD against the NRBT and Governor Moeaki. The NRBT is also enhancing prudential supervision of licensed banks to mitigate risks and protect depositors' funds.
EnforcementInvestigations & enforcement actionsPrudential risksSupervision process and methodologies
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2025-01-29•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency outlined its regulatory priorities, emphasizing a stable business framework, innovation support, and adapting pension and insurance systems to demographic changes. Board President Ante Žigman highlighted challenges from technologies like AI and blockchain, advocating for regulatory sandboxes. He also stressed the importance of Croatia-Slovenia cooperation in capital markets.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegulatory sandbox
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2025-01-29•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website monocomm.com, which falsely claims affiliation with Monocom Markets Ltd as an FSA-authorized entity. The FSA clarified that Monocom Markets Ltd is neither licensed nor regulated by the Authority and advised the public to exercise caution and conduct thorough research before engaging with the site.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-01-29•Global•ISDA
ISDA Chief Executive Scott O’Malia outlined priorities for digital transformation in the derivatives market, emphasizing industry-wide standards and automation to replace manual processes and reduce operational risk. Key initiatives include the Common Domain Model for standardizing financial products, the Digital Regulatory Reporting initiative for machine-executable compliance, and the upcoming ISDA Notices Hub for efficient delivery of termination-related notices.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptech