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3192743 pc May 29, 2026 adavies Netherlands Official Gazette horizon scanning
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Netherlands Ministry of Finance Sets Entry Into Force Date for Amended Alternative Investment Fund Managers Directive Implementation Law

On May 28, 2026, the Netherlands Official Gazette published a decree setting the entry into force date for the Law Implementing the Amended Alternative Investment Fund Managers Directive and Undertakings for Collective Investment in Transferable Securities Directive (AIFM Directive and ICBE Directive). The decree, issued by the Ministry of Finance on May 4, 2026, establishes that the law will enter into force the day after publication in the Official Gazette. The law implements two European Union directives governing investment fund management and collective investment schemes. The implementation law will take effect immediately upon publication, with one exception: Articles 4:37n and 4:50a, which establish reporting obligations for alternative investment fund managers and ICBE managers to supervisory authorities, will enter into force on April 16, 2027. This delayed implementation date reflects requirements set by the European Commission, which requires additional time to establish technical regulatory standards and implementing standards to standardise the information to be reported and the reporting process itself. The reporting framework will align with EU-wide requirements once the Commission completes its technical work. The Ministry of Finance bears responsibility for implementing this decree and ensuring compliance with the new reporting obligations when they take effect in April 2027. REFERENCES: Staatsblad 2026, 121 — https://zoek.officielebekendmakingen.nl/stb-2026-121.html

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Dutch Ministry of Finance Sets Entry Into Force Date for Amended Alternative Investment Fund Managers Directive Implementation Law

On May 28, 2026, the Netherlands Official Gazette published a decree setting the entry into force date for the Law Implementing the Amended Alternative Investment Fund Managers Directive and Undertakings for Collective Investment in Transferable Securities Directive (AIFM Directive and ICBE Directive). The decree establishes that the law will enter into force the day after publication in the official gazette. However, Article I, parts T and Z enter into force on April 16, 2027.
3193306 pc May 29, 2026 adavies Liechtenstein LIECHTENSTEIN GAZETTE Neueste Landesgesetzblätter - Landesgesetzblatt | Lilex - Gesetzesdatenbank des Fürstentum Liechtenstein horizon scanning
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Liechtenstein Government Amends Data Protection Regulation Through Official Decree

On May 28, 2026, the Liechtenstein government published an amendment to the Data Protection Regulation (Datenschutzverordnung) through official decree. The amendment, designated as 2026.182 in the Liechtenstein Gazette (Landesgesetzblatt), represents a modification to the existing data protection framework governing the Principality of Liechtenstein. The decree was formally issued on May 26, 2026, and entered the official legislative database (Lilex) on May 28, 2026. The amendment falls under legislative reference number 235.11, indicating its classification within Liechtenstein's legal code structure. While the specific substantive changes introduced by this amendment are not detailed in the official gazette entry, the modification represents an update to Liechtenstein's data protection regulatory framework, which governs how personal data is processed, stored, and protected within the jurisdiction. Data protection regulations in Liechtenstein establish requirements for organisations and entities handling personal information, including compliance obligations, individual rights, and administrative procedures. Amendments to this regulation typically reflect evolving regulatory standards, international obligations, or operational improvements to the existing framework. The amendment is now in effect as of its publication date. Organisations and entities subject to Liechtenstein's data protection requirements should review the updated regulation to ensure compliance with any new or modified provisions. The full text of the amended regulation is available through the Lilex legislative database maintained by the Principality of Liechtenstein. REFERENCES: Lilex - Gesetzesdatenbank des Fürstentums Liechtenstein: https://lilex.li/

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Liechtenstein Government Amends Data Protection Regulation

On May 28, 2026, the Liechtenstein government published an amendment to the Data Protection Regulation (Datenschutzverordnung) in the official gazette. The amendment, designated as 2026.182, represents a modification to the existing data protection framework. It provides that third countries and international organisations that have an adequate level of data protection on the basis of the adequacy decisions of the European Commission applicable in Liechtenstein pursuant to Article 45 of Regulation (EU) 2016/679 (General Data Protection Regulation – GDPR) are: Brazil. The European Patent Organisation. The United Kingdom. The eegulation enters into force on May 29, 2026, one day after its publication.
3191094 pc May 28, 2026 kgurnani New Zealand Reserve Bank of New Zealand financial services
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New Zealand Reserve Bank Launches Consultation on Proposed Prudential Levy Framework

On May 28, 2026, the Reserve Bank of New Zealand (RBNZ) launched a consultation on a proposed prudential levy under the Reserve Bank of New Zealand Act 2021 (RBNZ Act). The Government announced its intention to introduce the levy as part of Budget 2026, with the Minister of Finance requesting the RBNZ to conduct the consultation on the Minister's behalf. Section 296(1) of the RBNZ Act enables the Government to introduce a levy to cover the costs of the RBNZ in performing or exercising its functions or powers under prudential legislation. The consultation will address three key areas: the portion of costs that should be met by levies (full or partial cost recovery); the sectoral scope of the levies; and the method of calculating or ascertaining the amount of the levy paid by individual regulated entities. The levy will apply to entities regulated under prudential legislation and will represent a shift toward industry funding of regulatory costs. This development is significant for New Zealand's regulated financial sector, as it will establish a new funding mechanism for prudential regulation and supervision activities. The consultation period runs from late July to October 2026. Following this period, the RBNZ will analyse feedback and present recommendations to Cabinet for final decisions in early 2027. Regulations will be made and gazetted between June and July 2027, with the levy coming into effect in August 2027. Regulated entities and industry participants should prepare for engagement with the RBNZ during the consultation phase and monitor developments regarding the levy's design and implementation.

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New Zealand Reserve Bank Signals the Launch of Consultation on Proposed Prudential Levy Framework

On May 28, 2026, the Reserve Bank of New Zealand (RBNZ) indicated that it will launch a consultation on a proposed prudential levy under the Reserve Bank of New Zealand Act 2021 (RBNZ Act) . The consultation will address three key areas: the portion of costs that should be met by levies (full or partial cost recovery) the sectoral scope of the levies the method of calculating or ascertaining the amount of the levy paid by individual regulated entities. The levy will apply to entities regulated under prudential legislation and will represent a shift toward industry funding of regulatory costs. The consultation period will likely run from late July to October 2026. Following this period, the RBNZ will analyse feedback and present recommendations to Cabinet for final decisions in early 2027. Regulations will be made and gazetted between June and July 2027, with the levy coming into effect in August 2027. Regulated entities and industry participants should prepare for engagement with the RBNZ during the consultation phase and monitor developments regarding the levy's design and implementation.
3191042 pc May 28, 2026 kgurnani Australia Federal Register of Legislation horizon scanning
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Australia's Department of the Treasury Designates Regulated Sectors Under Scams Prevention Framework

On May 28, 2026, Australia's Department of the Treasury brought into force the Competition and Consumer (Scams Prevention Framework—Regulated Sectors) Designation 2026 (F2026L00627). The designation, authorised under the Competition and Consumer Act 2010, establishes regulated sectors and sector regulators under Australia's Scams Prevention Framework (SPF). The designation identifies three primary regulated sectors: banking, telecommunications, and digital platforms. For the banking sector, the instrument designates relevant banking services as a regulated sector and appoints a sector regulator responsible for SPF compliance. The telecommunications sector designation similarly identifies telecommunications services and designates a telecommunications sector regulator. The digital platforms sector designation covers designated instant messaging services, designated internet search services, and designated social media services, establishing the regulatory framework for these entities. The instrument includes transitional application provisions for each regulated sector, establishing partial exceptions during the implementation period. These transitional provisions allow regulated entities in banking, telecommunications, and digital platforms time to align their operations with SPF obligations before full compliance requirements take effect. The framework establishes obligations for regulated sectors to implement scam prevention measures, including reporting requirements and consumer protection mechanisms. The designation represents a significant step in Australia's regulatory approach to combating scams across critical sectors of the economy. Regulated entities in banking, telecommunications, and digital platforms must now prepare for compliance with SPF requirements as outlined in the designation and any accompanying regulatory guidance from their respective sector regulators. REFERENCES: Federal Register of Legislation. Competition and Consumer (Scams Prevention Framework—Regulated Sectors) Designation 2026. Available at: https://www.legislation.gov.au/

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Australia's Department of the Treasury Publishes the Competition and Consumer (Scams Prevention Framework-Regulated Sectors) Designation 2026

On May 28, 2026, Australia's Department of the Treasury brought into force the Competition and Consumer (Scams Prevention Framework—Regulated Sectors) Designation 2026. The designation, authorised under the Competition and Consumer Act 2010 , establishes regulated sectors and sector regulators under Australia's Scams Prevention Framework (SPF). The designation identifies three primary regulated sectors Banking: Specifies banking services and designates the relevant SPF sector regulator for banking. Telecommunications: Specifies telecommunications services and designates the relevant SPF sector regulator for telecommunications. Digital Platforms: Covers specific digital services, clearly defining and designating "instant messaging services," "internet search services," and "social media services." The framework includes specific application, savings, and transitional provisions, outlining partial exceptions for the banking, telecommunications, and digital platform sectors to help them transition into the new regulatory requirements. These transitional provisions allow regulated entities in banking, telecommunications, and digital platforms time to align their operations with SPF obligations before full compliance requirements take effect. The timelines of the phased approach is as follows: March 29, 2026: Division 3, which relates to sector-specific codes, and section 58DB, which covers the Ministerial authorisation of External Dispute Resolution (EDR) schemes, apply immediately. This early commencement ensures that the required code-making delegations and External Dispute Resolution (EDR) scheme authorisations can be put in place. September 1, 2026: Section 58BZG takes effect, meaning entities are obligated to have membership in a Scams Prevention Framework (SPF) External Dispute Resolution (EDR) scheme from this date. March 31, 2027: The transitional partial exceptions will no longer apply. From this date forward, all provisions of Part IVF of the Competition and Consumer Act 2010 apply in full to the covered services across the regulated sectors, bringing all remaining obligations into effect.
3194168 pc May 28, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Designates Entities Facilitating Iran's Military Oil Sales

On May 28, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against entities facilitating illicit Iranian military oil sales. The action targets the financial networks supporting Iran's Armed Forces General Staff oil sales operations, which generate revenue for the regime's military reconstitution and regional threats. OFAC designated six entities pursuant to Executive Order 13224 (as amended): Growth Trading Co., Limited and Damai Technology Development Limited, both Hong Kong-based charterers of shadow fleet vessels transporting Iranian military crude oil; Tida Co., Limited, a Hong Kong-based front company serving as shipper and consignee of military oil cargoes; Mehdiyev Trading Co., Limited, a Hong Kong-based entity facilitating crude oil shipments to China; and Worth Seen Energy Limited, a Hong Kong-based company procuring refined petroleum products for Iran's National Iranian Oil Company (NIOC) on behalf of Sepehr Energy Jahan, the oil sales arm of Iran's Armed Forces General Staff. The designations follow Treasury's broader "Economic Fury" campaign, which Treasury said has disrupted tens of billions of dollars in regime revenue, frozen nearly half a billion dollars in regime-linked cryptocurrency, and targeted shadow fleet vessels sustaining Iran's illicit oil industry. Treasury warned that any person or vessel facilitating illicit Iranian oil trade risks U.S. sanctions exposure. The department cautioned foreign companies, including airlines, of sanctions risks for supporting Iranian commerce and indicated willingness to impose secondary sanctions on foreign financial institutions facilitating Iran's activities. Additionally, on May 27, 2026, Treasury designated Iran's "Persian Gulf Strait Authority," an Islamic Revolutionary Guard Corps (IRGC)-linked extortion scheme targeting international shipping transiting the Strait of Hormuz. The U.S. Department of State's Rewards for Justice program simultaneously offered up to $15 million for information disrupting IRGC financial mechanisms.

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US Office of Foreign Assets Control Sanctions Facilitators of Iranian Oil Sales and Issues Russia-Related General License

On May 28, 2026, the US Office of Foreign Assets Control (OFAC) designated a series entities facilitating illicit oil sales by the Iranian military. Specifically, OFAC designated six entities pursuant to Executive Order 13224 and as a part of its broader "Economic Fury" campaign. According to OFAC , the action targets the financial networks supporting Iran's Armed Forces General Staff (AFGS) oil sales operations, which generate revenue for the regime's military reconstitution and regional threats. The new sanctions designations block all US-based property of these targets and generally prohibit US individuals and entities from engaging in transactions with them, unless expressly authorized by OFAC. Additionally, OFAC issued Russia-related General License 131F , which authorizes certain transactions for the negotiation of and entry into contingent contracts for the sale of Lukoil International GmbH and related maintenance activities, as well as amending two related Russia-related frequently asked questions (FAQs): FAQ 1224 and FAQ 1225 .
3192862 pc May 28, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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Financial Conduct Authority Warns Financial Firms Must Strengthen Sanctions Compliance Controls

On May 28, 2026, the Financial Conduct Authority (FCA) published findings from its latest review of sanctions systems and controls across the UK financial services sector, highlighting both progress and persistent gaps in firms' ability to prevent sanctions breaches. The FCA has proactively assessed the sanctions systems and controls of over 150 firms since February 2022, working alongside the Office of Financial Sanctions Implementation (OFSI) and the Office of Trade Sanctions Implementation (OTSI). The review found that while firms have demonstrated strong controls in identifying potential sanctions breaches before they occur, repeated weaknesses persist in due diligence, alert management, transaction and name screening, and the management of frozen assets and compliance with licences. Firms continue to face particular challenges in detecting and preventing trade sanctions breaches, which relate to bans on the export and import of goods, technologies and services. The range of controls used for trade sanctions compliance is notably greater than those used for financial sanctions, indicating inconsistent application across sanctions regimes. Reports from firms continue to relate primarily to the Russian sanctions regime, though the FCA also identified reports relating to Libya, Iran, and North Korea. As of last year, £37 billion worth of assets had been frozen in the UK. On May 28, 2026, the FCA signed a Memorandum of Understanding (MoU) with OTSI, establishing formal arrangements for cooperation and intelligence sharing between the two organisations. This complements an existing MoU between the FCA and OFSI. The FCA is sharing identified good and poor practice with all firms to support further strengthening of sanctions controls across the sector.

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UK's Financial Conduct Authority Publishes Review of Firms' Sanctions Systems and Controls

On May 28, 2026, the Financial Conduct Authority (FCA) published findings from its latest review of sanctions systems and controls across the UK financial services sector, highlighting both progress and persistent gaps in firms' ability to prevent sanctions breaches. In its latest review, the FCA found: Repeated examples of firms exhibiting strong controls and identifying potential sanctions breaches before they occurred. The most common root causes of reported sanctions breaches were weaknesses in due diligence, alert management, transaction and name screening, as well as the management of frozen assets and compliance with licences. Firms face challenges in detecting and preventing specific breaches of trade sanctions. The range of controls used for trade sanctions compliance - related to bans on the export and import of goods, technologies and services - was greater than those used for financial sanctions. The FCA has further provided examples of good and poor practice in their report. Additionally, the FCA has signed a Memorandum of Understanding (MoU) with the Office of Trade Sanctions Implementation (OTSI ) , which sets out the arrangements for cooperation and the sharing of intelligence between the two organisations
3188655 pc May 28, 2026 csoo United Kingdom Bank of England horizon scanning
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Bank of England Prudential Regulation Authority Restates Capital Requirements Regulation Definitions in Rulebook

On May 27, 2026, the Bank of England's Prudential Regulation Authority (PRA) published Policy Statement 14/26 (PS14/26), providing feedback on consultation responses and finalising its approach to restating Capital Requirements Regulation (CRR) definitions within the PRA Rulebook. This policy statement follows Consultation Paper 19/25, published in July 2025, which proposed transferring CRR definitions from Articles 4, 4A, 4B and 5 into the PRA Rulebook Glossary. The PRA received three responses to its consultation, with respondents generally supporting the objective of transferring definitions into the PRA Rulebook and simplifying where possible. The PRA made targeted refinements to its draft policy based on feedback, including consistent italicisation of embedded CRR terms within Glossary definitions, amendments to the "branch" definition to better align with CRR wording, and updates to the "recognised exchange" definition reflecting policy confirmed in PS6/26. The PRA also updated Supervisory Statement 15/13 on Groups to clarify its interpretation of "maintaining links on a long-term basis" in relation to the "participation" definition. The final rules restated the vast majority of CRR definitions without material changes to policy substance, with amendments primarily enhancing clarity and coherence. The changes apply to PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and their qualifying parent undertakings, though given the scope of transferred definitions and consequential amendments across multiple Rulebook Parts, the policy is potentially relevant to all PRA-regulated persons and their counterparties. The PRA Rulebook: Definitions and Interpretation (CRR) Instrument 2026, contained in Appendix 1, will become effective on January 1, 2027, alongside the Basel 3.1 package implementation.

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UK's Prudential Regulation Authority Restates Capital Requirements Regulation Definitions in Rulebook

On May 27, 2026, the Prudential Regulation Authority (PRA) published Policy Statement 14/26 (PS14/26), providing feedback on consultation responses and finalising its approach to restating Capital Requirements Regulation (CRR) definitions within the PRA Rulebook. The PS also contains the PRA’s final policy, as follows: Changes to the PRA Rulebook Glossary and consequential changes across other Parts of the PRA Rulebook (see PRA Rulebook: Definitions and Interpretation (CRR) Instrument 2026 in Appendix 1 ). Corresponding provisions table ( Appendix 2) . Amendments to supervisory statement (SS) 15/13 – Groups ( Appendix 3 ). This PS is most relevant to PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and their qualifying parent undertakings (including financial holding companies and mixed financial holding companies). However, given the scope of some definitions that will be transferred to the PRA Rulebook Glossary and the range of Parts to which consequential amendments have been made, it is of potential relevance to all persons subject to PRA rules and their counterparties
3192773 pc May 28, 2026 pthandapani Taiwan The Executive Yuan Gazette Online horizon scanning
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Taiwan's Financial Supervisory Commission Opens Public Comment Period on Virtual Asset Fraud Prevention Regulations

On May 28, 2026, Taiwan's Financial Supervisory Commission (FSC) announced a public consultation on draft amendments to the "Regulations Governing Fraud Crime Hazard Prevention by Financial Institutions and Businesses or Personnel Providing Virtual Asset Services." The FSC is seeking public feedback on proposed modifications to the regulatory framework governing fraud prevention obligations for financial institutions and entities or individuals providing virtual asset services. The amendment aims to strengthen protections against fraud crimes within Taiwan's financial and virtual asset sectors by updating compliance requirements and hazard prevention measures that financial institutions and virtual asset service providers must follow. The consultation targets financial institutions, virtual asset service businesses, and relevant personnel operating in Taiwan's financial system. The proposed amendments are significant as they reflect the FSC's ongoing efforts to address emerging fraud risks in the virtual asset space, an area of growing regulatory focus globally and within Taiwan's financial sector. The public comment period closes on June 29, 2026. Interested parties can submit comments via telephone at +886(2)23924146, facsimile at +886(2)2356-9970, email to [email protected], or by post to the FSC at 6F, No.2-2, Sec.1, Jinan Road, Taipei City 10051, Taiwan. The FSC will review submissions and publish its response to the consultation feedback following the comment period closure.

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Taiwanese Financial Supervisory Commission Seeks Feedback on Proposed Amendments to the Virtual Asset Fraud Prevention Regulations

The Financial Supervisory Commission (FSC) of Taiwan has proposed amendments to the "Regulations Governing Anti-Fraud Measures by Financial Institutions and Virtual Asset Service Providers." The proposed amendments prescribe: Virtual asset service provider adjustments: Revising the definition of virtual asset accounts to clarify that they are provided to customers by virtual asset service providers (VASPs) for using virtual asset services, rather than being directly opened by the VASPs. Furthermore, the amendments stipulate procedures for when a virtual account linked to a VASP's trust deposit account is flagged as a warning account. The amendments also permit VASPs to sell remaining virtual assets in a warning account and return the proceeds in fiat currency to the victim, and require VASPs to notify victims through the remitting institution, while establishing cooperation mechanisms among institutions to facilitate the return of funds. Expanded definitions and scope: Expanding the criteria for identifying abnormal deposit accounts, electronic payment accounts, credit cards, or virtual asset accounts suspected of involvement in fraud, thereby enabling earlier early-warning detection. Additionally, the term "Anti-Fraud Platform" and its participating institutions are explicitly defined. Cross-sector cooperation and joint defense: Authorizing cross-sector inquiries among deposit institutions, electronic payment institutions, credit card business institutions, and VASPs, and specifying the required information each sector must provide upon inquiry. The amendments also detail the joint defense mechanisms among these institutions, including protocols for freezing funds, tracing the flow of fraudulent funds across different account types, and responding to notifications from law enforcement. Anti-Fraud Platform regulations: Introducing a new chapter (Chapter VI) that mandates institutions establishing an Anti-Fraud Platform to apply for FSC approval by submitting specific documents. The amendments also specify the operations participating institutions can perform using the platform and the scope of customer information they can collect, process, and utilize. Victim protection and procedures: Expanding the types of documents victims can use to apply for the return of remaining funds, now including proof of report documents issued by any judicial police authority, rather than just the police. Furthermore, the amendments clarify the channels available to account holders, users, or cardholders if they have disputes regarding the freezing of their accounts by law enforcement. Feedback may be submitted via the FSC's draft regulation portal by June 29,2026.
3189937 gc May 28, 2026 mschanke Arizona Arizona Department of Gaming gamblingcompliance
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Arizona regulator reopens event wagering licensing

On May 27, 2026, the Arizona Department of Gaming announced it will begin accepting new applications for event wagering licenses on June 26, 2026. According to the announcement, the department will accept applications for at least one event wagering license reserved for Arizona tribes and at least one one event wagering license reserved for Arizona sports franchises. The department will evaluate all applications received in accordance with the established criteria set forth in the state's event wagering rules and statutes. To access detailed information on eligibility requirements, application procedures, and relevant timelines, visit the Forms, Licensing, and Fees web page . Additionally, the Frequently Asked Questions page is available to help answer common questions. Event wagering operator fees are as follows: Application fee: $100,000 Initial license fee: $750,000 Annual license fee: $150,000 The application window for event wagering licenses will open on June 26, 2026, and will close on July 10, 2026 at 5 p.m. MST. Applicants must submit their completed applications within this timeframe to be considered for a license.
3184367 pc May 28, 2026 pthandapani Taiwan Press Releases - Banking Bureau horizon scanning
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Taiwan Financial Supervisory Commission Imposes Administrative Penalties on Taishin International Commercial Bank

On May 26, 2026, Taiwan's Financial Supervisory Commission (FSC) announced administrative penalties against Taishin International Commercial Bank (Taishin Bank) for violations of banking regulations. The FSC found that a former wealth management specialist at Taishin Bank misappropriated approximately New Taiwan Dollar (NTD) 1.57 million from customers between December 2020 and October 2022, affecting two customers. The bank failed to report this incident to the FSC as required by law. Taishin Bank violated the Banking Act Article 45-1(1), internal control and audit system regulations, and demonstrated conduct that jeopardised sound business operations. The FSC identified significant deficiencies in the bank's internal control systems, including inadequate mechanisms for detecting abnormal automated teller machine (ATM) transactions, insufficient controls over wealth management specialists' consultation room activities, and weak confirmation procedures for transactions conducted on behalf of customers. The bank also failed to properly execute its major incident reporting procedures and did not adequately supervise employee compliance with conduct standards. The FSC imposed a fine of NTD 14 million and issued a correction order. Additionally, Taishin Bank must suspend accepting new customers for high-net-worth financial products and services for one month, and suspend accepting new customers for pilot business operations at its Kaohsiung wealth management centre for one month. The bank may resume these activities only after the FSC approves its remedial improvements. The FSC also required Taishin Bank to report the offending employee to the Banking Association, conduct comprehensive responsibility reviews, strengthen employee training, enhance internal controls and audit mechanisms, and increase capital provisions for operational risk under capital adequacy regulations.

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Taiwan Financial Supervisory Commission Imposes Administrative Penalties on Taishin International Commercial Bank

The Taiwanese Financial Supervisory Commission (FSC) has fined Taishin International Bank NT$14m (US$463,000) after an employee exploited inadequate internal controls to misappropriate customer funds and the bank concealed the incidents. The FSC’s investigation found that, between December 2021 and October 2023, Taishin failed to implement effective safeguards for: Detecting abnormal ATM transactions, Controlling wealth managers' activities inside client negotiation rooms, Confirming transactions submitted by wealth managers on behalf of clients, and Executing the reporting mechanism for major incidental events. These deficiencies breached Article 45-1, Paragraph 1 of the Banking Act, as well as Articles 3(1), 8(1), and 8(3) of the Internal Control and Internal Audit Regulations and enabled an employee to carry out NT$1.57 million (US$52,000) in misappropriations affecting 2 customers. In addition to the fine and a one-month suspension of specific high-asset wealth management services, the FSC has also requested that Taishin: Report the offending employee to the Bankers Association of the Republic of China. Review the responsibilities of head office supervisors and legal compliance officers in accordance with its responsibility map, and comprehensively investigate if other major incidents were unreported. Strengthen employee education and training, and actively educate customers to regularly review statements and refrain from handing over cash, bank cards, or passwords to staff. Increase its operational risk capital charge by NT$2.6 billion under the Pillar 2 supervisory review process.
3193231 pc May 28, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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Russia's Central Bank of the Russian Federation Publishes Draft Regulatory Acts for Public Consultation

The Central Bank of the Russian Federation (Bank of Russia) has published multiple draft regulatory acts for public consultation on its website. The consultation process invites stakeholders to submit comments and recommendations on proposed amendments and new regulations across various financial sectors. The draft acts under consultation address several key areas. These include amendments to regulations governing capital adequacy requirements for banks holding universal licences; modifications to payment system rules; changes to procedures for bank orders; requirements for trade organisers' own funds; and provisions relating to digital rouble platform operations and tax authority interactions. Additional drafts concern risk management and capital systems in credit organisations and banking groups, qualified investor recognition procedures, and amendments to regulations on mandatory motor vehicle liability insurance. The Bank of Russia has established specific comment deadlines for each draft act, ranging from May 28, 2026 to June 20, 2026. Stakeholders must submit comments via designated email addresses corresponding to each regulatory proposal. The Bank of Russia has also published explanatory notes accompanying each draft, detailing the rationale and objectives for the proposed changes. Summary tables of previously submitted comments and recommendations are available for certain draft acts, providing transparency on the consultation process. The regulatory acts are published on the Bank of Russia's official website and through the Federal Portal of Draft Regulatory Legal Acts (regulation.gov.ru). All draft acts undergo corruption risk assessment as part of the regulatory impact evaluation process.

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Central Bank of Russia Consults on Draft Instruction on Banks With a Universal Licence

On May 28, 2026, the Central Bank of Russia (CBR) launched a consultation on the Draft Bank of Russia Instruction "On Amendments to Bank of Russia Instruction No.220-I "On Mandatory Standards and Supplements to Capital Adequacy Standards for Banks With a Universal Licence and on the Bank of Russia's Supervision of Compliance Therewith". The CBR is proposing to update the prudential treatment of a broad range of exposures to ensure banks hold capital that better reflects the underlying risks of their assets. The amendments affect: Capital adequacy ratios. Risk weights applied to loans and securities. Credit risk calculations. Digital financial assets. Mortgage lending exposures. The proposal introduces new risk treatments for digital financial assets, credit default swaps, infrastructure financing, specialised financial vehicles and state-backed entities, while increasing reliance on Russian credit ratings and refining risk-weighting methodologies for corporate, mortgage and project-finance exposures. Comments and feedback are welcome up until June 10, 2026 and can be sent via email to svc_normativ_dbra@cbr.ru .
3193882 pc May 28, 2026 arahman Finland Official Gazette horizon scanning
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Finland's Ministry of Finance and Interior Ministry Publish Anti-Money Laundering and Counter-Terrorism Financing Strategy

On May 28, 2026, Finland's Ministry of Finance and Ministry of the Interior published the country's first national strategy to prevent money laundering, terrorism financing, and the circumvention of targeted economic sanctions. The State Council approved the strategy as a principle decision on May 28, 2026. Finland's overall money laundering risk level is assessed as significant, while terrorism financing risk is assessed as moderately significant. The strategy aims to guide authorities and key stakeholders toward coordinated, risk-based, and evidence-driven action to prevent criminal and terrorist actors from exploiting Finland's financial markets and to safeguard financial market and societal stability. The threat landscape is multifaceted and closely linked to digitalisation, international crime, and geopolitical changes. The greatest risks relate to informal money transfer systems, cryptocurrency services, and payment services. Terrorism financing often involves international money flows transferred through registered hawala-type money remitters and unregistered hawalas. Key national vulnerabilities include limited supervisory resources, gaps in customer knowledge requirements, and information-sharing constraints. The ministries simultaneously published action plans for 2026–2029 designed to mitigate identified risks and implement the strategy's objectives. For the first time, a dedicated action plan addresses the non-profit organisation (NPO) sector, responding to a national NPO sector money laundering and terrorism financing risk assessment published in 2024. Action plans assign responsible parties, resources, implementation timelines, and performance metrics for each measure. The strategy, risk assessments, and action plans form a comprehensive framework reflecting Finland's national understanding of money laundering and terrorism financing risks and their management approaches. REFERENCES: - Valtiovarainministeriö (Ministry of Finance): https://vm.fi/ - Sisäministeriö (Ministry of the Interior): https://sm.fi/

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Finland's Ministry of Finance and Interior Ministry Publish Anti-Money Laundering and Counter-Terrorism Financing Strategy

On May 28, 2026, Finland's Ministry of Finance and Ministry of the Interior published the country's first national strategy to prevent money laundering, terrorism financing and the circumvention of targeted economic sanctions. The State Council approved the strategy as a principal decision on May 28, 2026. Finland's overall money laundering risk level is assessed as significant, while terrorism financing risk is assessed as moderately significant. The strategy aims to guide authorities and key stakeholders toward coordinated, risk-based and evidence-driven action to prevent criminal and terrorist actors from exploiting Finland's financial markets and to safeguard financial market and societal stability. The threat landscape is multifaceted and closely linked to digitalisation, international crime and geopolitical changes. The greatest risks relate to informal money transfer systems, cryptocurrency services and payment services. Terrorism financing often involves international money flows transferred through registered hawala-type money remitters and unregistered hawalas. Key national vulnerabilities include limited supervisory resources, gaps in customer knowledge requirements and information-sharing constraints. The ministries simultaneously published action plans for 2026–2029 designed to mitigate identified risks and implement the strategy's objectives. Action plans assign responsible parties, resources, implementation timelines and performance metrics for each measure. The strategy, risk assessments, and action plans form a comprehensive framework reflecting Finland's national understanding of money laundering and terrorism financing risks and their management approaches.
3194553 pc May 28, 2026 arahman Russia Bank of Russia financial services
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Bank of Russia Signs Cooperation Memorandum with National Bank of Kazakhstan

On May 28, 2026, the Bank of Russia and the National Bank of the Republic of Kazakhstan signed a memorandum of understanding to strengthen cooperation on combating fraudulent operations. The memorandum establishes mutual understanding between the two central banks on addressing fraudulent transactions, with particular focus on cross-border money transfer mechanisms. The agreement aims to expand collaboration and information exchange to identify, prevent, suppress, and analyse fraudulent operations, including those conducted through transnational payment channels. The two authorities have agreed to establish a bilateral working group to implement the memorandum's provisions and coordinate joint activities. The Bank of Russia said the memorandum represents an important step in developing the ongoing interaction between the two central banks. The bilateral working group will oversee execution of the memorandum's measures and facilitate continued coordination on financial market protection and fraud prevention initiatives.

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Central Bank of Russia Signs Cooperation Memorandum with National Bank of Kazakhstan

On May 28, 2026, the Central Bank of Russia (CBR) and the National Bank of the Republic of Kazakhstan signed a memorandum of understanding to strengthen cooperation on combating fraudulent operations. The memorandum establishes mutual understanding between the two central banks on addressing fraudulent transactions, with particular focus on cross-border money transfer mechanisms. The agreement aims to expand collaboration and information exchange to identify, prevent, suppress and analyse fraudulent operations, including those conducted through transnational payment channels. The two authorities have agreed to establish a bilateral working group to implement the memorandum's provisions and coordinate joint activities.The bilateral working group will oversee the execution of the memorandum's measures and facilitate continued coordination on financial market protection and fraud prevention initiatives.
3194550 pc May 28, 2026 arahman Russia Bank of Russia financial services
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Russia's Bank of Russia Revises Professional Market Participant Categorisation Thresholds

On May 28, 2026, the Bank of Russia announced it is revising the criteria for categorising brokers, asset managers, dealers, and depositaries into large, medium, and small organisation categories. The Bank of Russia said the existing threshold values no longer reflect the scale of the financial market. The Bank of Russia published a draft directive for public consultation. The categorisation of professional market participants determines the regulatory requirements applicable to each entity and the intensity of supervisory oversight. The assessment of companies considers the volume of transactions they execute and the nature of their operations. Between 2020 and 2025, the financial market landscape changed significantly, resulting in substantial growth in professional market participants' actual performance indicators. Client bases expanded, transaction volumes increased several times over, and the volume of assets held in client accounts grew considerably. The revised threshold values aim to eliminate excessive regulatory and supervisory burden on companies that do not hold a significant market share and do not represent material sources of risk. The Bank of Russia said the new threshold values will ensure that regulatory requirements and supervisory intensity are appropriately calibrated to each participant's actual market significance and risk profile. The consultation period and deadline for submitting responses were not specified in the announcement. REFERENCES: Bank of Russia. "Категоризация профучастников: новые пороговые значения" (Categorisation of Professional Market Participants: New Threshold Values). May 28, 2026. Available at: www.cbr.ru

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Central Bank of Russia Revises Professional Market Participant Categorisation Thresholds

On May 28, 2026, the Central Bank of Russia (CBR) published draft amendments to the Bank of Russia Regulation dated July 27, 2015, No.481-P. When evaluating companies, the volume of transactions they conduct and the nature of their operations are considered by the CBR. Depending on the category into which a professional participant falls, the list of regulatory requirements imposed on them and the degree of oversight over their activities will be determined. The new indicator values ​​will eliminate excessive regulatory and supervisory burdens on companies that do not hold significant market share and pose no significant risks. Comments and feedback are welcome up until June 11, 2026 and can be sent via email to regulation_DIFP@cbr.ru .
3195477 gc May 28, 2026 apintea Finland Ministry of The Interior gamblingcompliance
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Finland's Ministry of the Interior Publishes National Strategy for Countering Money Laundering and Terrorist Financing

On May 28, 2026, Finland's Ministry of Finance and Ministry of the Interior published the country's first national strategy for countering money laundering, terrorist financing, and the evasion and circumvention of targeted financial sanctions. The Government adopted a resolution on the strategy, risk assessments, and action plans on the same date. According to Finland's national risk assessment, the overall money laundering risk is significant, and the risk of terrorist financing is moderately significant. Finland faces diverse threats linked to digitalisation, international crime, and geopolitical shifts. The greatest risks relate to unofficial money transfer systems, crypto-asset services, and payment services. Terrorist financing often involves international cash flows transferred through registered hawala-type money remittance services and unregistered hawalas. The assessment identifies supervision resources, insufficient expertise, and limited information exchange as the most significant national vulnerabilities. The strategy aims to guide public authorities and other key actors toward coordinated, risk- and knowledge-based actions to prevent criminals and terrorists from using Finland's financial markets and to safeguard financial stability. The Ministry of Finance and Ministry of the Interior also published action plans to mitigate identified risks and achieve strategic goals. For the first time, the non-profit organisation (NPO) sector received its own action plan, responding to the 2024 national risk assessment of money laundering and terrorist financing in the NPO sector. The action plans designate responsible parties, resources, implementation schedules, and metrics for measures included within them. The plans cover the period 2026 to 2029 and address technological transformation and the national security situation through a risk-based approach and enhanced cooperation among authorities.

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Finland publishes national strategy for countering money laundering and terrorist financing

On May 28, 2026, Finland's Ministry of Finance and Ministry of the Interior published the country's first national strategy for countering money laundering, terrorist financing, and the evasion and circumvention of targeted financial sanctions. The Government adopted a resolution on the strategy, risk assessments, and action plans on the same date. According to Finland's national risk assessment, the overall money laundering risk is significant, and the risk of terrorist financing is moderately significant. Finland faces diverse threats linked to digitalisation, international crime, and geopolitical shifts. The greatest risks relate to unofficial money transfer systems, crypto-asset services, and payment services. The assessment identifies supervision resources, insufficient expertise, and limited information exchange as the most significant national vulnerabilities. The strategy aims to guide public authorities and other key actors toward coordinated, risk- and knowledge-based actions to prevent criminals and terrorists from using Finland's financial markets and to safeguard financial stability. The Ministry of Finance and Ministry of the Interior also published action plans to mitigate identified risks and achieve strategic goals.  The action plans designate responsible parties, resources, implementation schedules, and metrics for measures included within them. The plans cover the period 2026 to 2029 and address technological transformation and the national security situation through a risk-based approach and enhanced cooperation among authorities.
3195887 pc May 28, 2026 arahman Russia Bank of Russia financial services
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Russia's Bank of Russia Launches Consultation on Artificial Intelligence Use in Financial Markets

On November 20, 2025, the Bank of Russia (CBR) launched a public consultation on a report addressing the application of artificial intelligence (AI) in the financial market, examining the current status and conditions for further development of AI technologies within Russia's financial sector. The consultation report, titled "Application of Artificial Intelligence in the Financial Market: Current Status and Conditions for Further Development," seeks to gather feedback from market participants, industry stakeholders, and the public on AI implementation across financial services. The initiative reflects the CBR's recognition of AI's growing role in financial markets and the need to establish a regulatory framework that balances innovation with financial stability and consumer protection. The report likely addresses key considerations including governance frameworks for AI-driven systems, risk management protocols, transparency and disclosure requirements for AI-based financial products and services, and safeguards against algorithmic bias and market manipulation. The consultation also appears designed to identify barriers to responsible AI adoption and establish conditions that support technological advancement while maintaining market integrity. The CBR is accepting responses, questions, and suggestions regarding the report until December 30, 2025 (inclusive). Stakeholders should submit their feedback to ai_doklad@cbr.ru. The CBR plans to publish a summary report of the public consultation outcomes on May 28, 2026, which will inform the development of future AI governance guidance for Russia's financial markets. REFERENCES: Bank of Russia. "Доклад для общественных консультаций 'Применение искусственного интеллекта на финансовом рынке: текущий статус и условия дальнейшего развития'." Accessed November 20, 2025. https://www.cbr.ru/

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Central Bank of Russia Publishes Consultation Response on Artificial Intelligence Use in Financial Markets

On May 28, 2026, the Central Bank of Russia (CBR) published the consultation response to the Public Consultation Report on the Application of Artificial Intelligence (AI) in the Financial Market: Current Status and Conditions for Further Development . Key points include: The CBR will continue to work to create favourable conditions for the development of AI. It will continue to adhere to a risk-oriented and technology-neutral approach. The CBR considers it premature to prepare a separate management guide. This issue may be further addressed based on the results of monitoring compliance with the Code of Ethics for the Development and Application of AI in the Financial Market. Together with financial market participants, the CBR will create a collection of best practices for compliance with the Code of Ethics. The CBR will conduct comprehensive annual monitoring of compliance with the Code of Ethics, including through a general survey on the use of AI in the financial market. The CBR will develop proposals to remove barriers to the use of data privacy-enhancing technologies in the financial market. The CBR will continue to work to create favourable conditions for the development of AI in the financial market in collaboration with relevant agencies and market participants.
3194801 pc May 28, 2026 arahman Sweden Finansinspektionen financial services
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Sweden's Financial Supervisory Authority Issues Administrative Fine to Norion Bank for Anti-Money Laundering Violations

On May 28, 2026, the Swedish Financial Supervisory Authority (Finansinspektionen or FI) issued Norion Bank AB (Norion) an administrative fine of 90 million Swedish kronor and a remark for violations of anti-money laundering regulations. FI conducted an investigation into Norion's compliance with customer due diligence provisions under the Anti-Money Laundering and Counter-Terrorist Financing Act (2017:630). The investigation focused on measures the bank implemented for customers who are legal entities. FI found that Norion failed to take necessary measures to adequately assess whether customers associated with medium or high risk of money laundering and terrorism financing had beneficial owners who were politically exposed persons or family members or known colleagues of such persons. Additionally, the bank did not implement enhanced customer due diligence measures to obtain detailed information about high-risk customers' business activities, financial situation, or the source of their money. Norion Bank holds authorisation to conduct banking business under the Banking and Financing Business Act (2004:297) and offers corporate and real estate loans, savings accounts, factoring services, and payment services to both natural persons and legal entities. FI determined that the violations did not warrant withdrawal of Norion's authorisation or issuance of a warning. The administrative fine of 90 million Swedish kronor, accompanied by a remark, constitutes an adequate intervention. This enforcement action reflects FI's continued focus on ensuring financial institutions maintain robust anti-money laundering and counter-terrorism financing compliance frameworks.

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Sweden's Financial Supervisory Authority Issues SEK90m Administrative Fine to Norion Bank for Anti-Money Laundering Violations

On May 28, 2026, the Swedish Financial Supervisory Authority (FI) issued Norion Bank AB (Norion) with an administrative fine of SEK90m (approximately €8.3m) and a remark for violations of anti-money laundering regulations. The FI conducted an investigation into Norion's compliance with customer due diligence provisions under the Anti-Money Laundering and Counter-Terrorist Financing Act (2017:630). The investigation focused on the measures the bank implemented for customers who are legal entities. The FI found that Norion failed to take necessary measures to adequately assess whether customers associated with a medium or high risk of money laundering and terrorism financing had beneficial owners who were politically exposed persons, family members, or known colleagues of such persons. Additionally, the bank did not implement enhanced customer due diligence measures to obtain detailed information about high-risk customers' business activities, financial situation, or the source of their money. Norion Bank holds authorisation to conduct banking business under the Banking and Financing Business Act (2004:297) and offers corporate and real estate loans, savings accounts, factoring services, and payment services to both natural persons and legal entities. The FI determined that the violations did not warrant withdrawal of Norion's authorisation or issuance of a warning. The administrative fine of SEK90m, accompanied by a remark, constitutes an adequate intervention.
3190621 pc May 28, 2026 arahman Belarus Ministry of Communications and Informatization - News horizon scanning
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Belarus Ministry of Communications and Informatization Announces Twenty to Twenty-Five New Artificial Intelligence Standards by Year End

On May 27, 2026, Belarus's State Standard (Госстандарт) announced it will develop between 20 and 25 new artificial intelligence (AI) standards by the end of 2026. Aleksandr Burak, first deputy chairman of the State Standard, said the development process incorporates international experience and practices from Russian colleagues. The State Standard is developing these standards to support critical sectors including healthcare, education, energy, transport, agriculture, and tourism. Burak said standardization is necessary for the rapid implementation of AI solutions across these industries. Belarus is actively participating in the International Organization for Standardization (ISO) technical committee on AI, which includes more than 80 countries. Currently, 42 ISO standards are ready for implementation, with 49 international standards under development and approximately 100 normative technical documents expected by 2030. Belarus has designated OAO Giprosvyaz as its full observer representative to the ISO technical committee. At the Commonwealth of Independent States (CIS) level, Belarus participates in the Interstate Technical Committee 566 on Artificial Intelligence, where work has already standardized AI terminology and definitions. The State Standard is developing quality assessment standards for AI systems and lifecycle process standards based on international documents. The national technical committee for standardization, Technical Committee BY 41 on Digital Development and Communications, is also contributing to this standardization effort.

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Belarus' Ministry of Communications and Informatisation Announces Upcoming AI Standards

On May 28, 2026, Belarus' State Standard announced it will develop between 20 and 25 new artificial intelligence (AI) standards by the end of 2026. Aleksandr Burak, first deputy chairman of the State Standard, said the development process incorporates international experience and practices from Russian colleagues. Belarus is actively participating in the International Organisation for Standardisation (ISO) technical committee on AI, which includes more than 80 countries. Currently, 42 ISO standards are ready for implementation, with 49 international standards under development and approximately 100 normative technical documents expected by 2030. Belarus has designated OAO Giprosvyaz as its full observer representative to the ISO technical committee. At the Commonwealth of Independent States (CIS) level, Belarus participates in the Interstate Technical Committee 566 on Artificial Intelligence, where work has already standardised AI terminology and definitions. The State Standard is developing quality assessment standards for AI systems and lifecycle process standards based on international documents. The national technical committee for standardisation, Technical Committee BY 41 on Digital Development and Communications, is also contributing to this standardisation effort.
3215419 pc May 28, 2026 arahman Bosnia and Herzegovina Banking By Laws - Banking Agency of Fed financial services
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Bosnia and Herzegovina Banking Agency Amends Interest Rate Risk Management Decision

On June 4, 2026, the Banking Agency of the Federation of Bosnia and Herzegovina (FBA) published amendments to its Decision on Interest Rate Risk Management in the Banking Book. The amendments were published in the Official Gazette of the Federation of Bosnia and Herzegovina, Issue 41/26. The Decision on Interest Rate Risk Management in the Banking Book establishes requirements for banks operating in the Federation of Bosnia and Herzegovina to identify, measure, monitor, and manage interest rate risk exposure in their banking books. Interest rate risk in the banking book refers to the potential impact of adverse movements in interest rates on a bank's capital and earnings from non-trading activities. The amendments modify the existing decision framework governing how banks must manage and report interest rate risk. The specific technical changes introduced by the amendments are not detailed in the source material; however, the revisions represent the FBA's ongoing regulatory refinement of interest rate risk management standards for the banking sector. The amended Decision becomes effective on September 30, 2026. Banks operating in the Federation of Bosnia and Herzegovina must ensure compliance with the revised requirements by this date. The FBA will enforce the new provisions from the effective date forward. REFERENCES: Banking Agency of the Federation of Bosnia and Herzegovina. Decision on Amendments and Supplements to the Decision on Interest Rate Risk Management in the Banking Book. Official Gazette of the Federation of Bosnia and Herzegovina, Issue 41/26. June 4, 2026. Available at: https://www.fba.ba/

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Bosnia and Herzegovina Banking Agency Amends Decision on Interest Rate Risk Management

On May 28, 2026, the Banking Agency of the Federation of Bosnia and Herzegovina (FBA) adopted amendments to its Decision on Interest Rate Risk Management in the Banking Book (IRRBB). Key amendments include: For measuring IRRBB, a bank is required to use at least one measure based on net interest income after changes in the market value of instruments and at least one economic value measurement method, which together include all components of IRRBB. A bank shall consistently apply one of the following approaches for identifying, measuring, monitoring and managing IRRBB: Internal Measurement Systems (IMS). The standardised approach. The simplified standard approach. Internal Measurement Systems (IMS). The standardised approach. The simplified standard approach. A bank shall regularly, and at least quarterly, calculate the effect of: Interest rate shocks on the measure of the economic value of capital. Parallel shocks to the net interest income measure, namely, one-year net interest income. Interest rate shocks on the measure of the economic value of capital. Parallel shocks to the net interest income measure, namely, one-year net interest income. This decision shall enter into force on the eighth day following its publication in the official gazette and shall apply from September 30, 2026.
3263410 pc May 28, 2026 arahman Kosovo Central Bank for the Republic of Kosovo (BQK) - Regulations (Payment Systems) horizon scanning
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Kosovo's Central Bank Approves Regulation on Reporting Statistics of Payment Instruments

On May 28, 2026, the Board of the Central Bank for the Republic of Kosovo (BQK) approved a new Regulation on Reporting Statistics of Payment Instruments. The regulation establishes rules for payment service providers and payment system operators to report statistics on payment instruments and payment services to the BQK, with the aim of ensuring accurate and comparable data collection to support transparency, analysis, and decision-making within Kosovo's payments sector. The regulation applies to all payment service providers and payment system operators in Kosovo, including banks, electronic money institutions, payment institutions, postal institutions authorised to provide payment services, and the BQK itself when not acting as a monetary authority. Reporting entities must submit statistical data within fifteen calendar days after the end of each reference period, covering account data, domestically issued cards, payment terminals, payment transactions by instrument type and terminal type, active electronic money value, and fraud or misuse reports. The BQK will publish aggregated statistics on a monthly, quarterly, and annual basis as open data on its official website. Data may be revised if omissions, inaccuracies, or errors are identified following publication. The BQK will verify reported data through on-site inspections and may require additional clarifications or corrections to ensure compliance with defined statistical standards. Reporting entities must ensure submitted data are accurate, complete, and verified before submission. Violations of the regulation's provisions are subject to corrective measures and civil administrative sanctions in accordance with applicable Kosovo legislation. The regulation repeals the previous Regulation on Payment Instrument Statistics approved on February 28, 2023. The BQK will issue a detailed Guideline on Reporting Statistics of Payment Instruments to define reporting procedures, data structure, deadlines, and technical submission formats. The regulation enters into force fifteen days following its approval.

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Kosovo's Central Bank Approves Regulation on Reporting Statistics of Payment Instruments

On May 28, 2026, the Board of the Central Bank for the Republic of Kosovo (CBK) approved a new Regulation on Reporting Statistics of Payment Instruments. Firms shall be obliged to submit to the CBK data that includes: Account data. Cards issued domestically. Devices enabling the intiation of payment terminals. Payment transactions by instruments and types. Payment transaction by terminal type. Terminals by municipality. Active value of electronic money. Report on attempted fraud or misuse through payment instruments. Statistical reports on payment instruments shall be submitted to the CBK within 15 calendar days after the end of the reference period for which the data is reported. The CBK shall publish statistics as open data, based on the data reported by the firms. This information will be published on the official website on a monthly, quarterly and annual basis. This regulation shall enter into force on June 12, 2026.
3208062 pc May 28, 2026 arahman Ukraine Regulatory Documents financial services
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Ukraine's National Bank Approves Amendments to Bank Premises Protection Rules

On May 28, 2026, the Board of the National Bank of Ukraine (NBU) approved amendments to the Rules for Organizing the Protection of Bank Premises in Ukraine through Resolution No. 58. The amendments update security protocols governing the protection of premises for both banking and non-banking financial institutions operating in Ukraine. The changes represent a revision to existing regulatory frameworks that establish minimum security standards and organizational requirements for physical protection of financial institution facilities. These updates address contemporary security considerations and operational requirements for banking sector participants. The amendments apply to all banks and non-banking financial institutions subject to NBU supervision and regulation. The updated rules establish requirements for premises protection measures, including security infrastructure, access controls, and facility management protocols that institutions must implement to maintain compliance with NBU standards. The amendments come into effect on July 31, 2026, providing financial institutions with a transition period to implement any required changes to their physical security arrangements and operational procedures. Institutions should review the amended rules and assess their current security protocols against the new requirements to ensure full compliance by the effective date. REFERENCES: National Bank of Ukraine. Resolution of the Board of the National Bank of Ukraine No. 58 of May 28, 2026 "On Approval of Amendments to the Rules for Organizing the Protection of Bank Premises in Ukraine." Available at: https://www.nbu.ua/

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National Bank of Ukraine Adopts Amendments to Bank Premises Protection Rules

On May 28, 2026, the National Bank of Ukraine (NBU) adopted the Resolution on the Approval of Amendments to the Rules on the Organisation of Protection of Bank Premises in Ukraine. The amendments update security protocols governing the protection of premises for banking institutions operating in Ukraine. The changes represent a revision to existing regulatory frameworks that establish minimum security standards and organisational requirements for the physical protection of financial institution facilities. These updates address contemporary security considerations and operational requirements for banking sector participants. The updated rules establish requirements for premises protection measures, including security infrastructure, access controls and facility management protocols that institutions must implement to maintain compliance with NBU standards. A bank is obliged to install a video camera, equipped with a technological video control system, in the customer area, near each cashier's workplace, on the side of the structural elements, at a height of 1 to 1.5 metres from the cash acceptance and transmission device. This camera must cover the area from the cash acceptance and transmission device on the client's side. This resolution enters into force on July 31, 2026.
3205874 pc May 28, 2026 arahman Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank of Ukraine Establishes Enhanced Prudential Standards Framework for Banks

On May 28, 2026, the National Bank of Ukraine (NBU) approved a regulation establishing enhanced prudential standards for Ukrainian banks through Resolution No. 57, which took effect on June 3, 2026. The regulation implements provisions of European Parliament and Council Directive 2013/36/EU on prudential supervision of credit institutions and incorporates recommendations from the European Banking Authority (EBA) and Basel Committee on Banking Supervision standards. The regulation enables the NBU to set elevated capital adequacy and liquidity requirements for individual banks based on their risk profiles and supervisory review and evaluation process (SREP) assessments. The NBU may establish enhanced requirements for regulatory capital adequacy ratios, tier-one capital adequacy ratios, common equity tier-one capital adequacy ratios, and liquidity coverage ratios across all currencies. The regulation defines methodologies for determining enhanced prudential norms, conducting SREP assessments, and ensuring bank compliance with elevated standards. The framework aims to maintain sufficient capital and liquidity buffers covering bank-specific risks, strengthen banking system resilience, and enhance depositor and creditor protection. The regulation implements a phased approach for enhanced capital adequacy requirements. From 2026, banks must meet requirements accounting for 50 percent of the additional capital determined under the regulation; from 2027 onwards, requirements will reflect 100 percent of the additional capital. This initiative aligns with Ukraine's European integration commitments and implements obligations under the Memorandum on Economic and Financial Policy with the International Monetary Fund. REFERENCES: National Bank of Ukraine. Resolution No. 57 of May 28, 2026, on Approval of the Regulation on Establishing Enhanced Values of Prudential Standards for Banks of Ukraine. Available at: https://www.bank.gov.ua/

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National Bank of Ukraine Adopts Resolution on Increased Prudential Standards for Banks

On May 28, 2026, the National Bank of Ukraine (NBU) adopted the Resolution on the Approval of the Regulation on Establishing Increased Prudential Standards for Banks in Ukraine. The regulation implements provisions of European Parliament and Council Directive 2013/36/EU on prudential supervision of credit institutions and incorporates recommendations from the European Banking Authority (EBA) and Basel Committee on Banking Supervision standards. The regulation enables the NBU to set elevated capital adequacy and liquidity requirements for individual banks based on their risk profiles and supervisory review and evaluation process (SREP) assessments. The regulation defines: The procedure for determining increased capital adequacy and liquidity ratios, which takes into account the risks inherent in a particular bank's activities that are not fully covered by minimum regulatory requirements. The procedure for setting higher capital adequacy and liquidity standards. Approaches to conducting an SREP assessment. Requirements for banks to comply with the established prudential standards. The NBU will be able to set higher values for banks on an individual basis regarding: Regulatory capital adequacy ratio. Tier 1 capital adequacy ratio. Liquidity coverage ratio across all currencies. The resolution comes into force on June 3, 2026.
3189228 pc May 28, 2026 adavies Iceland Official Gazette financial services
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Iceland's Central Bank Implements Rules on Supervisory Decisions for Financial Institution Capital Requirements

On May 27, 2026, Iceland's Official Gazette published regulations establishing rules for joint supervisory decisions regarding the application of certain methods for calculating capital requirements for financial institutions. The Central Bank of Iceland (Seðlabanki Íslands) issued these regulations under authority granted by the Financial Undertakings Act, No. 161/2002. The regulations establish a framework for financial institutions seeking permission to apply specific methods for calculating capital requirements under EU Regulation (EU) No. 575/2013 on prudential requirements for credit institutions and investment firms. The rules implement two European Commission implementing regulations into Icelandic law: Commission Implementing Regulation (EU) 2016/100 from October 16, 2015, which sets out the joint decision-making procedure for applications for specific prudential permissions, and Commission Implementing Regulation (EU) 2025/2338 from November 20, 2025, which amends the 2016 regulation with updated technical implementation standards. Both regulations were incorporated into the European Economic Area (EEA) Agreement through EEA Joint Committee decisions and apply within Iceland's financial regulatory framework. The regulations apply to all financial institutions operating in Iceland that seek to use alternative methods for capital requirement calculations under the EU prudential framework. These rules replace previous regulations on supervisory decisions regarding certain methods for calculating capital requirements for financial institutions, No. 793/2022, which are hereby repealed. The regulations took effect immediately upon publication on May 27, 2026. Financial institutions requiring guidance on the joint decision-making procedure or seeking approval for alternative capital calculation methods should consult the Central Bank of Iceland's financial supervision division.

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Iceland's Government Publishes Rules on Supervisory Decisions for Financial Institution Capital Requirements

On May 27, 2026, Iceland's government published the Rules on joint decisions of supervisory authorities on the application of certain methods for calculating capital requirements of financial undertakings in the official gazette. The rules apply to joint decisions of supervisory authorities pursuant to Regulation (EU) No. 575/2013 (Capital Requirements Regulation – CRR). It implements two European regulations, namely: Commission Implementing Regulation (EU) 2016/100. Commission Implementing Regulation (EU) 2025/2338. The rules enter into force immediately.
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Iceland's Ministry of Finance and Economic Affairs Amends Payment Services Regulation Implementation Rules

On May 19, 2026, Iceland's Ministry of Finance and Economic Affairs (Fjármála- og efnahagsráðuneytið) published Regulation 555/2026, amending the implementation rules for European Union (EU) regulations governing cooperation and information exchange in payment services. The amendment updates Article 1 of the existing Regulation 300/2023 to incorporate two EU delegated regulations. First, it references Commission Delegated Regulation (EU) 2017/2055 from June 23, 2017, which supplements Directive (EU) 2015/2366 of the European Parliament and of the Council. This regulation establishes technical regulatory standards for cooperation and information exchange between competent authorities regarding payment institutions' use of passporting rights and freedom to provide services. Second, the amendment incorporates Commission Delegated Regulation (EU) 2025/212 from September 13, 2024, which corrects the 2017/2055 regulation. Both delegated regulations were incorporated into the European Economic Area (EEA) Agreement through decisions of the EEA Joint Committee: Decision 165/2019 from June 14, 2019, and Decision 210/2025 from September 19, 2025, respectively. The amendment ensures Iceland's payment services regulatory framework remains aligned with EU technical standards for competent authority cooperation and information sharing. The regulation entered into force immediately upon publication on May 27, 2026, under the authority of the Payment Services Act (Lög um greiðsluþjónustu), no. 114/2021. The amendment applies to all entities subject to Iceland's payment services regulatory regime. REFERENCE: Iceland Official Gazette (Stjórnartíðindi), Regulation 555/2026, May 27, 2026.

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Iceland's Government Amends Payment Services Regulation Implementation Rules

On May 27, 2026, Iceland's government published Regulation 555/2026, amending the Regulation implementing rules for European Union regulations governing cooperation and information exchange in payment services . The amendment updates Article 1 of the existing Regulation 300/2023 to incorporate Commission Delegated Regulation (EU) 2017/2055 as amended by Commission Delegated Regulation (EU) 2025/212 . The amending regulations enter into force immediately.
3182326 pc May 27, 2026 pthandapani Pakistan State Bank of Pakistan horizon scanning
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Pakistan's State Bank Issues Framework for Foreign Exchange Services Distribution by Intermediaries

On May 22, 2026, the State Bank of Pakistan (SBP) issued Foreign Exchange Circular No. 01 of 2026, introducing a new framework governing the distribution of foreign exchange services by intermediaries and aggregators operating in Pakistan. The circular addresses the acquisition of services from abroad by Pakistani firms and companies, which is governed under Paragraph 11, Chapter 14 of the Foreign Exchange Manual. To facilitate companies seeking to act as intermediaries or aggregators between foreign service providers and domestic service acquirers, the SBP introduced a separate framework through the insertion of Paragraph 11A in Chapter 14 of the Foreign Exchange Manual. This new framework specifically governs intermediaries and aggregators that collect funds locally in Pakistani Rupees for onward remittance to foreign service providers. The circular was addressed to the presidents and chief executives of all Authorized Dealers (ADs) in foreign exchange. The SBP directed ADs to communicate these developments to all their constituents to ensure meticulous compliance with the updated framework. The specific provisions of the new framework are detailed in Annexure A of the circular, which outlines the operational requirements and conditions for intermediaries and aggregators seeking to facilitate foreign exchange service distribution in Pakistan. This development is significant for financial institutions, intermediaries, and aggregators operating in Pakistan's foreign exchange market, as it establishes clear regulatory parameters for service distribution activities involving cross-border fund transfers.

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State Bank of Pakistan Issues Framework for Foreign Exchange Services Distribution by Intermediaries

The State Bank of Pakistan (SBP) has released a framework for foreign exchange services distribution by intermediaries. . The framework prescribes: Scope and eligibility allowing authorized dealers (ADs) to execute remittances for companies in Pakistan acting as intermediaries for foreign digital advertising and information technology (IT)-related services, including subscription video on demand (SVOD) and digital music, provided these companies are not involved in inward remittance businesses. Prohibited payments and currency stipulating that underlying agreements must not contain late payment charges, interest, or payments for digital assets, gambling, or immoral activities, and requiring that all local fund collections be made in Pakistani Rupees into a dedicated, exclusive account. Remittance limits and acknowledgment permitting ADs to process remittances up to US$5m annually per entity for specific foreign service providers (Google LLC, Meta Platforms Inc., Microsoft Corporation, and Oracle Corporation), but mandating that arrangements with non-listed providers or those exceeding the US$5m limit require prior acknowledgment from the Foreign Exchange Operations Department (FEOD), SBP Banking Services Corporation (SBP-BSC). Due diligence and auditing requiring ADs to conduct thorough anti-money laundering (AML), combating the financing of terrorism (CFT), and countering proliferation financing (CPF) due diligence. Furthermore, for related-party transactions, an external auditor with a satisfactory quality control review (QCR) rating must confirm arm's length pricing, and before any remittance is executed, an auditor must verify the services, reconcile the funds, and ensure no prohibited payments are included. Reporting requirements mandating that designated ADs submit a consolidated monthly report to the FEOD, SBP-BSC via the regulatory approval system (RAS) within five working days of the month's end. The framework takes immediate effect.
3190002 pc May 27, 2026 pdonofrio US Track 2 Ministry of Finance horizon scanning
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United States Office of Foreign Assets Control Adds Individual to Sanctions Designation List for International Criminal Court-Related Activity

On May 27, 2026, the Office of Foreign Assets Control (OFAC), a component of the U.S. Department of the Treasury, added an individual to its Specially Designated Nationals List (SDN List) pursuant to International Criminal Court-related executive order authority. OFAC designated Francesca Paola Albanese, an Italian national born on March 30, 1977, in Ariano Irpino, Italy, and currently residing in Tunis, Tunisia. The designation was made under executive order ICC-EO14203. Albanese's Italian passport, number YA4652441, expired on January 8, 2024. The addition to the SDN List means that U.S. persons and entities are generally prohibited from engaging in transactions with the designated individual, and any assets subject to U.S. jurisdiction must be blocked. Financial institutions and other parties are required to report blocked transactions to OFAC. The SDN List is OFAC's primary sanctions designation tool and identifies individuals and entities with which U.S. persons cannot conduct business. Designations under International Criminal Court-related authority reflect U.S. policy to address individuals involved in activities that warrant sanctions under relevant executive orders. The addition of Albanese to the SDN List expands OFAC's enforcement reach regarding International Criminal Court-related matters and signals continued U.S. commitment to sanctions compliance in this area. U.S. persons and entities must ensure their compliance programs account for this designation and implement appropriate screening procedures to prevent prohibited transactions. REFERENCES: Office of Foreign Assets Control. "International Criminal Court-related Designation." May 27, 2026. https://ofac.treasury.gov/recent-actions/20260527

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US Office of Foreign Assets Control Adds Individual to Sanctions Designation List for International Criminal Court-Related Activity

On May 27, 2026, the US Office of Foreign Assets Control (OFAC) added an individual to its Specially Designated Nationals (SDN) list, pursuant to International Criminal Court (ICC)-related executive order authority. OFAC designated Francesca Paola Albanese, an Italian national currently residing in Tunisia. The new sanctions designation blocks all US-based property of Albanese and generally prohibits US individuals and entities from engaging in transactions with her, unless expressly authorized by OFAC.
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U.S. Department of the Treasury Sanctions Iranian Persian Gulf Strait Authority for Maritime Extortion

On May 27, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated the Persian Gulf Strait Authority (PGSA), an Iranian government agency controlled by the Islamic Revolutionary Guard Corps (IRGC), as a blocked entity under Executive Order 13224, as amended. The designation targets Iran's scheme to extort vessels transiting the Strait of Hormuz through illegitimate toll payments and demands for sensitive vessel information. The PGSA operates as a coordinated extortion mechanism between the Iranian government and the IRGC Navy, requiring commercial vessels to submit information and follow Iranian-designated routes near Iran's coast in exchange for passage through the Strait of Hormuz. Funds collected from these illegitimate tolls are funneled directly to the IRGC, designated as a Foreign Terrorist Organization. OFAC designated the PGSA for materially assisting, sponsoring, and providing financial, material, and technological support to the IRGC. Treasury Secretary Scott Bessent said the designation reflects Iran's desperation following the Trump Administration's "Economic Fury" campaign, which has disrupted tens of billions of dollars in revenue accessible to the Iranian regime and frozen nearly half a billion dollars in regime-linked cryptocurrency. As a result of the designation, all property and interests in property of the PGSA in the United States or in the possession or control of U.S. persons are blocked. U.S. persons and entities are generally prohibited from conducting transactions involving the PGSA unless authorized by OFAC license. Non-U.S. persons are prohibited from causing U.S. persons to violate sanctions or engaging in conduct that evades sanctions. Violations may result in civil or criminal penalties. Foreign financial institutions that knowingly conduct or facilitate significant transactions on behalf of the PGSA risk exposure to secondary sanctions, including restrictions on maintaining correspondent or payable-through accounts in the United States. REFERENCES: U.S. Department of the Treasury Press Release: Economic Fury Targets Iranian Maritime Extortion (May 27, 2026) https://home.treasury.gov/news/press-releases/jy1445

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US Office of Foreign Assets Control Sanctions Persian Gulf Strait Authority for Maritime Extortion

On May 27, 2026, the US Office of Foreign Assets Control (OFAC) designated the Persian Gulf Strait Authority (PGSA), an Iranian government agency controlled by the Islamic Revolutionary Guard Corps (IRGC), as a blocked entity under Executive Order 13224 . According to OFAC , the designation targets Iran's scheme to extort vessels transiting the Strait of Hormuz through illegitimate toll payments and demands for sensitive vessel information. The PGSA operates as a coordinated extortion mechanism between the Iranian government and the IRGC, requiring commercial vessels to submit information and follow Iranian-designated routes near Iran's coast in exchange for passage through the Strait of Hormuz. Funds collected from these illegitimate tolls are funneled directly to the IRGC, designated as a foreign terrorist organization (FTO). The new sanctions designation blocks all US-based property of PGSA and generally prohibits US individuals and entities from engaging in transactions with PGSA, unless expressly authorized by OFAC.
3187359 gc May 27, 2026 gkaliraman United Kingdom Advertising Standards Authority gamblingcompliance
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United Kingdom Advertising Standards Authority Rules Betway Instagram Post Featuring Thierry Henry Not in Breach

On May 27, 2026, the Advertising Standards Authority (ASA) published a ruling on a complaint regarding an Instagram post by Betway Ltd featuring retired footballer Thierry Henry. The ASA determined the ad did not breach the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code). The post, seen in November 2025, featured an image of Henry with text discussing Arsenal's squad depth and included Betway's logo, an 18+ symbol, and the begambleaware.org logo. A researcher from the University of Bristol complained that the ad featured an individual likely to appeal strongly to under-18s, potentially breaching CAP Code rules 16.1, 16.3, and 16.3.12 (Gambling), which prohibit marketing communications for gambling products from including persons likely to appeal strongly to those under 18 years old. Betway argued that Henry, aged 48 at the time and retired from professional football for over a decade, primarily appealed to adult audiences. The operator provided data showing Henry had 4.32 million Instagram followers globally, with only 19,483 estimated to be based in the UK and under 18 years old—significantly below the 100,000-follower threshold CAP Guidance indicates as indicative of strong appeal to under-18s. Betway noted Henry's punditry work was primarily for CBS Sports, an American network unavailable in the UK, with only occasional guest appearances on Sky Sports' Monday Night Football. The ASA assessed Henry's profile as a retired footballer-turned-pundit and concluded his social media presence and television appearances were unlikely to indicate strong appeal to UK under-18s. The authority considered viral moments from his punditry work centred on tactical analysis rather than content resonating with younger audiences. The ASA upheld Betway's position and ruled the ad did not breach the CAP Code.

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UK advertising authority rules Betway Instagram post featuring Thierry Henry not in breach

On May 27, 2026, the UK Advertising Standards Authority (ASA) published a ruling on a complaint regarding an Instagram post by Betway Ltd featuring retired footballer Thierry Henry. The ASA determined the ad did not breach the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code). The post, seen in November 2025, featured an image of Henry with text discussing Arsenal's squad depth and included Betway's logo, an 18+ symbol, and the begambleaware.org logo. A researcher from the University of Bristol complained that the ad featured an individual likely to appeal strongly to under-18s, potentially breaching CAP Code rules 16.1, 16.3, and 16.3.12 (Gambling) , which prohibit marketing communications for gambling products from including persons likely to appeal strongly to those under 18 years old. Betway argued that Henry, aged 48 at the time and retired from professional football for over a decade, primarily appealed to adult audiences. The operator provided data showing Henry had 4.32 million Instagram followers globally, with only 19,483 estimated to be based in the UK and under 18 years old—significantly below the 100,000-follower threshold CAP Guidance indicates as indicative of strong appeal to under-18s. Betway noted Henry's punditry work was primarily for CBS Sports, an American network unavailable in the UK, with only occasional guest appearances on Sky Sports' Monday Night Football. The ASA assessed Henry's profile as a retired footballer-turned-pundit and concluded his social media presence and television appearances were unlikely to indicate strong appeal to UK under-18s. The authority considered viral moments from his punditry work centred on tactical analysis rather than content resonating with younger audiences. The ASA upheld Betway's position and ruled the ad did not breach the CAP Code.
3192262 pc May 27, 2026 rghosh Israel BOI - Press Releases financial services
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Israel's Central Bank Announces Contactless Cash Withdrawal Framework for Automated Teller Machines

On May 27, 2026, the Bank of Israel (BOI) announced a framework for implementing contactless cash withdrawals from automated teller machines (ATMs) using payment cards and digital wallets. The BOI's ATM Committee established this initiative to enhance efficiency and innovation within Israel's payments system. Under the framework, ATMs will be gradually upgraded to enable contactless cash withdrawal functionality. Currently, cash withdrawals require customers to insert a payment card into a card reader. The new system will allow withdrawals via contactless card technology and digital wallets, improving user experience and accessibility for the broader public. The implementation will occur in three phases. In the first phase, by July 2026, contactless withdrawals will be available at ATMs supporting the required technology within the customer's home bank. Subsequently, by December 2027, cross-bank contactless withdrawals will be enabled across all compatible ATMs regardless of the customer's banking institution. In the second phase, beginning June 2027, newly installed ATMs must support contactless withdrawal capability. In the third phase, by the end of 2030, all existing ATMs will be converted to support contactless withdrawals. Offer Golan, head of the BOI's Payments and Clearing Department, said the initiative represents a significant milestone in strengthening efficiency and innovation in Israel's payments infrastructure. The contactless withdrawal service will deliver advanced, convenient, and more accessible user experiences while reflecting the BOI's commitment to continuously improving Israel's payments system in alignment with evolving technological environments. The ATM Committee serves as a platform for all relevant market participants to discuss professional and technological matters concerning cash withdrawal operations, aiming to increase efficiency and competition while maintaining system stability.

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Israel's Central Bank Announces Contactless Cash Withdrawal Framework for ATMs

On May 27, 2026, the Bank of Israel (BOI) announced a framework for implementing contactless cash withdrawals from automated teller machines (ATMs) using payment cards and digital wallets. The BOI's ATM Committee established this initiative to enhance efficiency and innovation within Israel's payments system. Under the framework, ATMs will be gradually upgraded to enable contactless cash withdrawal functionality. Currently, cash withdrawals require customers to insert a payment card into a card reader. The new system will allow withdrawals via contactless card technology and digital wallets, improving user experience and accessibility for the broader public. The implementation will occur in three phases. In the first phase, by July 2026, contactless withdrawals will be available at ATMs supporting the required technology within the customer's home bank. Subsequently, by December 2027, cross-bank contactless withdrawals will be enabled across all compatible ATMs regardless of the customer's banking institution. In the second phase, beginning June 2027, newly installed ATMs must support contactless withdrawal capability. In the third phase, by the end of 2030, all existing ATMs will be converted to support contactless withdrawals. The ATM Committee serves as a platform for all relevant market participants to discuss professional and technological matters concerning cash withdrawal operations, aiming to increase efficiency and competition while maintaining system stability.
3227024 pc May 27, 2026 rghosh South Africa Government of South Africa financial services
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South Africa's Government Commences Financial Intelligence Centre Act

The Government of South Africa published a notice commencing the Financial Intelligence Centre Act (FICA). The notice, published in the Government Gazette, formally brings the act into effect, establishing the legal framework for anti-money laundering and counter-terrorism financing (AML/CTF) regulation in South Africa. FICA creates the institutional and regulatory foundation for combating financial crime. The act establishes the Financial Intelligence Centre (FIC) as the central authority responsible for receiving, analysing, and disseminating financial intelligence to combat money laundering, terrorism financing, and related predicate offences. The legislation imposes obligations on financial institutions, including banks, money services businesses, casinos, and other designated non-financial businesses and professions, to implement AML/CTF compliance programmes, conduct customer due diligence, and report suspicious transactions to the FIC. The act applies to all entities operating in South Africa's financial system and those engaged in designated activities. Compliance obligations include establishing internal compliance functions, training staff on AML/CTF requirements, maintaining records, and reporting to the FIC in accordance with prescribed timelines and thresholds. The legislation also establishes penalties for non-compliance and provides the FIC with investigative and enforcement powers. Financial institutions and designated non-financial businesses and professions must ensure their systems, policies, and procedures align with FICA's requirements. Organisations should review their existing AML/CTF frameworks to confirm compliance with the act's provisions and implement any necessary operational changes to meet their obligations under the new regulatory regime. REFERENCES: Government of South Africa. Financial Intelligence Centre Act: Commencement. Government Gazette. Available at: https://www.gov.za/

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South Africa's Government Announces the Commencement ofthe Financial Intelligence Centre Act

On May 27, 2026 the Government of South Africa published a notice commencing the Financial Intelligence Centre Act (FICA). The notice formally brings the act into effect, establishing the legal framework for anti-money laundering and counter-terrorism financing (AML/CTF) regulation in South Africa. FICA creates the institutional and regulatory foundation for combating financial crime. The act establishes the Financial Intelligence Centre (FIC) as the central authority responsible for receiving, analysing, and disseminating financial intelligence to combat money laundering, terrorism financing, and related predicate offences. The legislation imposes obligations on financial institutions, including banks, money services businesses, casinos, and other designated non-financial businesses and professions, to implement AML/CTF compliance programmes, conduct customer due diligence, and report suspicious transactions to the FIC. The act applies to all entities operating in South Africa's financial system and those engaged in designated activities. Compliance obligations include establishing internal compliance functions, training staff on AML/CTF requirements, maintaining records, and reporting to the FIC in accordance with prescribed timelines and thresholds. The legislation also establishes penalties for non-compliance and provides the FIC with investigative and enforcement powers. Financial institutions and designated non-financial businesses and professions must ensure their systems, policies, and procedures align with FICA's requirements.
3195606 pc May 27, 2026 arahman Ukraine Regulatory Documents financial services
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Ukraine's National Bank Issues Regulatory Amendments on Bank and Banking Group Supervision

On May 27, 2026, the National Bank of Ukraine (NBU) Board adopted Resolution No. 55 amending several regulatory and legal acts governing the supervision of banks and banking groups in Ukraine. The resolution introduces amendments to the NBU's existing normative and legal framework applicable to banks and banking groups operating under Ukrainian jurisdiction. While the specific substantive changes are not detailed in the available source material, the resolution represents a regulatory update to the NBU's supervisory framework for credit institutions and their consolidated groups. The resolution was adopted by the NBU Board on May 27, 2026, and is available in PDF and DOCX formats on the NBU's official website for public access and review.

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National Bank of Ukraine Issues Regulatory Amendments on Bank and Banking Group Supervision

On May 27, 2026, the National Bank of Ukraine (NBU) adopted the Resolution on Amendments to Certain Regulatory Legal Acts of the NBU on the Regulation of the Activities of Banks and Banking Groups. The resolution aims to align with Regulation (EU) No. 575/2013 on prudential requirements for credit institutions and improve the procedure for determining the minimum risk exposure by Ukrainian banks and banking groupds. Banks must calculate the minimum settlement risk for each reporting date between June 1, 2026 and July 31, 2026 for statistical reporting files that have a daily reporting frequency. The results must be submitted to the NBU in the statistical reporting file 6SX - "Data on Determining by Banks the Minimum Size of Settlement Risk". These amendments come into force on the day following its official publication except for amendments to Regulation No.158 and No.43, which shall enter into force on June 30, 2026.
3194599 pc May 27, 2026 arahman Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank Extends Authorization Deadline for Non-Bank Payment Service Providers Offering Card Acquiring

On May 28, 2026, the National Bank of Ukraine (NBU) extended the deadline for non-bank payment service providers to complete authorization for card acquiring activities to September 2, 2026. The extension applies enforcement forbearance, meaning the NBU will not impose enforcement measures against non-bank payment service providers conducting card acquiring without proper authorization during this extended period, provided they have submitted required documentation and met other regulatory requirements. The extension covers non-bank payment service providers that timely submitted necessary documents to the NBU and complied with requirements established under two NBU Board resolutions: Resolution 103 from August 28, 2025, addressing specific issues related to identifying characteristics of card acquiring; and Resolution 122 from September 30, 2025, concerning how financial companies can acquire payment institution status without suspending provision of financial payment services. Eligible non-bank payment service providers may continue offering card acquiring services within the extended timeframe without incurring violations or facing enforcement action from the NBU. The changes were approved by NBU Board Resolution 54 on May 27, 2026, and took effect on May 29, 2026. This extension provides additional time for non-bank payment service providers to complete their authorization processes while transitioning to the updated regulatory framework governing card acquiring activities in Ukraine's payments market. REFERENCES: National Bank of Ukraine Board Resolution 54 (May 27, 2026): https://www.bank.gov.ua/ua/news/all/prodovzheno-termin-dlya-zavershennya-avtorizaciyi-diyalnosti-z-ekvayringu-z-urахuvannyam-jogo-onovlenih-oznak

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National Bank of Ukraine Extends Authorisation Deadline for Non-Bank Payment Service Providers Offering Card Acquiring

On May 27, 2026, the National Bank of Ukraine (NBU) extended the deadline for non-bank payment service providers to complete authorisation for card acquiring activities to September 2, 2026. The extension applies enforcement forbearance, meaning the NBU will not impose enforcement measures against non-bank payment service providers conducting card acquiring without proper authorisation during this extended period, provided they have submitted the required documentation and met other regulatory requirements. The extension covers non-bank payment service providers that timely submitted necessary documents to the NBU and complied with requirements established under two NBU Board resolutions: Resolution 103 from August 28, 2025, addressing specific issues related to identifying characteristics of card acquiring; and Resolution 122 from September 30, 2025, concerning how financial companies can acquire payment institution status without suspending provision of financial payment services. Eligible non-bank payment service providers may continue offering card acquiring services within the extended timeframe without incurring violations or facing enforcement action from the NBU. The changes were approved by NBU Board Resolution 54 on May 27, 2026, and take effect on May 29, 2026.
3185126 pc May 27, 2026 tojuri Malta Untitled horizon scanning
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Malta's Financial Intelligence Analysis Unit Outlines Preparatory Steps for European Anti-Money Laundering Authority Direct Supervision Selection

On May 26, 2026, Malta's Financial Intelligence Analysis Unit (FIAU) informed subject persons of developments issued by the European Anti-Money Laundering Authority (AMLA) regarding the framework for AMLA's direct supervision of selected financial institutions and groups within the European Union. On May 12, 2026, AMLA published a reporting package designed to support national supervisory authorities in identifying provisionally eligible obliged entities that may fall under AMLA's direct supervisory remit from 2028 onwards. This marks a significant milestone ahead of AMLA's first selection cycle, scheduled for 2027. Financial institutions or groups operating in six or more EU Member States may be considered eligible for selection. The identification process will rely on a harmonised EU-wide risk assessment methodology developed under the new anti-money laundering and counter-terrorism financing (AML/CTF) legislative package. Competent authorities will be responsible for collecting and validating the required information from entities under their supervision. AMLA has issued a standardised reporting template and an interpretative note to ensure consistent data collection across Member States. AMLA will host a public webinar on June 10, 2026, from 10:00–12:00 Central European Summer Time to provide a practical walkthrough of the reporting template. The session is open to all interested participants with capacity for up to 3,000 attendees and requires no registration. Participants may submit questions in advance through a dedicated survey by June 5, 2026, and a full recording will be made available following the session. The deadline for national supervisors to complete the data collection exercise is August 15, 2026, with the provisional list of eligible entities to be published by the end of September 2026. The FIAU encourages subject persons, particularly those with cross-border operations within the EU, to review AMLA's reporting requirements and consider the potential implications of the upcoming supervisory framework.

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Malta's Financial Intelligence Analysis Unit Updates on AMLA Direct Supervision Selection

On May 26, 2026, Malta's Financial Intelligence Analysis Unit (FIAU) informed subject persons of developments issued by the European Anti-Money Laundering Authority (AMLA) regarding the framework for AMLA's direct supervision of selected financial institutions and groups within the European Union. Financial institutions or groups operating in six or more EU member states may be considered eligible for selection. The identification process will rely on a harmonised EU-wide risk assessment methodology developed under the new anti-money laundering and counter-terrorism financing (AML/CTF) legislative package. Competent authorities will be responsible for collecting and validating the required information from entities under their supervision. AMLA has issued a standardised reporting template and an interpretative note to ensure consistent data collection across member states. The FIAU encourages subject persons, particularly those with cross-border operations within the EU, to review AMLA's reporting requirements and consider the potential implications of the upcoming supervisory framework.
3184722 pc May 27, 2026 tojuri Hungary Government of Hungary horizon scanning
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Hungary's Government Publishes Draft Amendments to Financial Sector Legislation for Harmonization

On May 26, 2026, the Government of Hungary published draft amendments to multiple laws affecting the financial sector, aimed at legal harmonization. The Ministry of Finance released the proposed modifications for public consultation. The draft amendments address various aspects of financial sector regulation to ensure alignment with applicable legal frameworks. The government has made available supporting documentation including a content summary, normative text, justification, and impact assessment to facilitate stakeholder review and understanding of the proposed changes. The consultation period runs until June 2, 2026. Stakeholders and interested parties are invited to submit comments and observations on the draft amendments to kozigazgatasiegyeztetes@ngm.gov.hu. The government requests that submissions include the subject line identifying the specific legislation being commented upon to facilitate processing of responses. REFERENCES: Government of Hungary, Ministry of Finance. "Egyes pénzügyi szektort érintő törvények jogharmonizációs célú módosításáról" [Draft Amendments to Laws Affecting the Financial Sector for Harmonization Purposes]. Accessed May 26, 2026. Available at: https://kozigazgatas.kormany.hu/

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Hungary's Government Publishes Draft Amendments to Financial Sector Legislation for Harmonisation

On May 26, 2026, the Hungarian government published draft amendments to multiple laws affecting the financial sector, aimed at legal harmonisation, for public consultation. The draft amendments address various aspects of financial sector regulation to ensure alignment with applicable legal frameworks. Proposed amendments have been made to: Act CXX of 2002 on the Capital Market. Act CXXXVIII of 2007 on Investment Firms and Commodity Exchange Service Providers. Act LXXXV of 2009 on the Provision of Payment Services. Act CLXII of 2009 on Consumer Credit Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises. Act XVI of 2014 on Collective Investment Schemes and their Managers. Act XII of 2025 on Servicers of Non-Performing Loan Agreements and Purchasers of Non-Performing Loan Agreements. Stakeholders and interested parties are invited to submit comments and observations on the draft amendments to kozigazgatasiegyeztetes@ngm.gov.hu by June 2, 2026. The government requests that submissions include the subject line identifying the specific legislation being commented upon to facilitate processing of responses.
3190947 pc May 27, 2026 msolomon Lithuania Parliament of the Republic of Lithuania horizon scanning
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Lithuania's Parliament Registers Legislation Implementing European Union Artificial Intelligence Act

On May 27, 2026, the Parliament of the Republic of Lithuania registered a bill to implement Regulation (EU) 2024/1689, the European Union's Artificial Intelligence Act (AI Act). The bill, registered under number XVP-1564, was prepared by the Ministry of Economy and Innovation and the Government of Lithuania. The legislation establishes the institutional framework and competencies for implementing the EU AI Act within Lithuania. It designates multiple state institutions with specific responsibilities for AI governance, including the Ministry of Economy and Innovation, the National Accreditation Body, the State Data Protection Inspectorate, the State Data Agency, the National Cyber Security Centre, and sector-specific market supervision authorities. The bill also creates provisions for establishing and operating restricted artificial intelligence regulatory sandboxes, which allow controlled testing of AI systems in controlled environments. The legislation includes comprehensive complaint-handling procedures, investigation mechanisms, and enforcement provisions. It establishes procedures for submitting complaints regarding AI system violations, investigation protocols for market surveillance authorities, and a sanctions framework. Sanctions include warnings, fines, and corrective measures, with penalties calculated based on turnover or revenue depending on the entity type. The bill also includes provisions for document retention, appeals of regulatory decisions, and an ex post impact assessment requirement. The bill entered the parliamentary register on May 27, 2026, and remains in registered status. It will require parliamentary approval before becoming law.

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Lithuania Introduces Draft Law On the Implementation of the European Union Artificial Intelligence Act

On May 27, 2026, the Lithuania Seimas introduced a draft law “On the Implementation of the European Union Artificial Intelligence Act”, implementing Regulation (EU) 2024/1689 (AI Act) and focuses on regulating the actions of state institutions and bodies. The AI Act is a directly applicable EU legal act and does not require transposition from Member States. Therefore the draft law does not adress operators of AI systems (providers, implementers and their authorised representatives) in efforts to avoid excessive regulation at the national level. Instead the draft law seeks to establish the competence of state institutions and bodies implementing the AI ​​Act, the procedure for examining complaints and conducting investigations regarding possible violations of the AI ​​Act as well as liability for violations committed, including rules on the application of sanctions established in the AI ​​Act. If passed, the law is set to enter into force on August 2, 2026. The Seimas has confirmed that, once the  European Commission has approved 10 new harmonised standards and has prepared a series of methodological documents which should provide additional, legal clarity regarding the application of the rules set out within the AI ​​Act, they will assess the need for additional national legal provisions.
3186840 pc May 27, 2026 rghosh Japan Japan Virtual Currency Exchange Dealers Association financial services
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Japan Virtual Currency Exchange Dealers Association Opens Public Comment Period on Constitutional and Regulatory Amendments

On May 26, 2026, the Japan Virtual Currency Exchange Dealers Association (JVCEA) opened a public comment period for proposed amendments to its articles of association and internal regulations. The JVCEA is seeking stakeholder feedback on the creation and amendment of its constitutional and regulatory framework. This consultation represents an opportunity for crypto-asset exchange dealers, industry participants, and other interested parties to provide input on governance and operational standards within Japan's virtual currency exchange sector. The association's regulatory framework governs the conduct of its member institutions and establishes compliance requirements for crypto-asset trading activities. Public consultations of this nature typically address updates to operational procedures, member conduct standards, risk management requirements, or other governance matters relevant to the association's oversight function. The comment period runs from May 26, 2026 to June 11, 2026 at 3:00 PM Japan Standard Time. Stakeholders wishing to submit comments should follow the submission procedures outlined on the JVCEA's public comment portal. The JVCEA will review all submissions received during the consultation window and use this feedback to inform final decisions on any proposed amendments to its constitutional and regulatory instruments.

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Japan Virtual Currency Exchange Dealers Association Launches Consultation on Constitutional and Regulatory Amendments

On May 26, 2026, the Japan Virtual Currency Exchange Association (JVCEA) published draft amendments to its Articles of Incorporation and multiple self-regulatory rules and guidelines for public consultation. The draft amendments address the regulation of crypto asset and electronic payment instrument businesses, including the introduction of new rules for intermediary activities. Proposed amendments and new rules have been made to: Articles of Incorporation Rules on the Enforcement of the Articles of Incorporation Rules and Guidelines on Business Related to Crypto Asset Intermediary Activities Rules and Guidelines on the Delegation of Crypto Asset Intermediary Business Rules and Guidelines on Business Related to Electronic Payment Instrument Intermediary Activities Rules and Guidelines on the Delegation of Electronic Payment Instrument Intermediary Business Rules and Guidelines on the Handling of Electronic Payment Instruments Rules and Guidelines on User Management and Disclosure for Electronic Payment Instrument Businesses Policy on Disciplinary Measures against Members Rules and Guidelines on the Issuance of Electronic Payment Instruments Rules on the Adoption and Compliance with Ethics Codes by Business Members Rules and Guidelines on User Management and Disclosure for Crypto Asset Exchange Businesses Stakeholders and interested parties are invited to submit comments on the draft amendments to public@jvcea.or.jp by June 11, 2026 at 15:00 JST, or by post to JVCEA's Tokyo office. Submissions should be made in writing (email body text only; attachments and links are not accepted) and must include the respondent's name and contact details, along with identification of the specific rule being commented upon.
3186815 pc May 27, 2026 kgurnani Australia Australian Securities and Investments Comission financial services
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Australian Securities and Investments Commission Orders Westpac to Pay $26 Million Penalty for Hardship Failures

On a date in 2025, the Federal Court ordered Westpac Banking Corporation (Westpac) to pay $26 million in civil penalties for failing to respond to customers experiencing financial hardship. Justice McEvoy found that Westpac failed to respond to over 200 online hardship requests within the time required by law between 2017 and 2023. The Australian Securities and Investments Commission (ASIC) brought the enforcement action against Westpac and its subsidiaries St George Bank, Bank SA and Bank of Melbourne. Under the National Credit Code, customers experiencing difficulties meeting repayments must receive a response to hardship notices within a specified timeframe. Westpac admitted contravening Section 72(4) of the National Credit Code and Sections 47(1)(a) and 47(4) of the National Credit Act. Justice McEvoy described the contraventions as "very serious," noting they arose from inadequate systems and operational failures rather than deliberate misconduct, and impacted vulnerable customers over an extended period. Some customers waited weeks beyond the legal deadline for responses; others received no response at all. The court found that some customers subsequently had adverse credit information recorded and debts sold to third-party debt purchasers, compounding harm. ASIC Deputy Chair Sarah Court said the penalty sent a clear message to lenders to prioritise customers struggling financially. Westpac admitted contraventions and paid more than $1.7 million in remediation to affected customers, including refunds of fees and interest and compensation for non-financial loss. This enforcement action aligns with ASIC's broader focus on lender compliance with hardship obligations. The Australian Financial Complaints Authority (AFCA) handles customer complaints regarding hardship decisions. Consumers experiencing financial hardship can access support through the National Debt Helpline (1800 007 007) or ASIC's Moneysmart website.

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Australian Securities and Investments Commission Orders Westpac to Pay AU$26 Million Penalty for Hardship Failures

Australia's Federal Court ordered Westpac Banking Corporation (Westpac) to pay $26 million in civil penalties for failing to respond to customers experiencing financial hardship. The Court found that Westpac failed to respond to over 200 online hardship requests within the time required by law between 2017 and 2023. The Australian Securities and Investments Commission (ASIC) brought the enforcement action against Westpac and its subsidiaries St George Bank, Bank SA and Bank of Melbourne. Under the National Credit Code, customers experiencing difficulties meeting repayments must receive a response to hardship notices within a specified timeframe. Westpac admitted contravening Section 72(4) of the National Credit Code and Sections 47(1)(a) and 47(4) of the National Credit Act . Justice McEvoy described the contraventions as "very serious," noting they arose from inadequate systems and operational failures rather than deliberate misconduct, and impacted vulnerable customers over an extended period. Some customers waited weeks beyond the legal deadline for responses; others received no response at all. The court found that some customers subsequently had adverse credit information recorded and debts sold to third-party debt purchasers, compounding harm. ASIC Deputy Chair Sarah Court said the penalty sent a clear message to lenders to prioritise customers struggling financially. Westpac admitted contraventions and paid more than $1.7 million in remediation to affected customers, including refunds of fees and interest and compensation for non-financial loss. This enforcement action aligns with ASIC's broader focus on lender compliance with hardship obligations.
3199997 pc May 27, 2026 arahman Ukraine Official website of the President of Ukraine - News financial services
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Ukraine Introduces New Sanctions Packages in Synchronization with European Union Decisions

On May 30, 2026, President of Ukraine Volodymyr Zelenskyy signed two decrees enacting decisions of the National Security and Defense Council of Ukraine to synchronize sanctions with those adopted by the European Union. The synchronization covers the EU's 20th sanctions package, which targets 120 individuals and entities across key sectors of the Russian economy. Ukraine's action introduces additional restrictions on 16 Russian citizens and 31 companies registered in Russia, Belarus, the United Arab Emirates, Kyrgyzstan, Kazakhstan, Uzbekistan, and Ukraine's temporarily occupied territories. The targeted individuals include executives of Russian strategic enterprises, public institutions, and units of the Russian military, as well as persons serving Russian interests in occupied Ukrainian territories. The sanctioned entities comprise enterprises within the Russian military-industrial complex, manufacturers of electronic warfare systems, drone software and components, and companies engaged in oil, gas, and gold extraction. Specific companies targeted include Atlant Aero LLC, a Russian aerospace products and drone components manufacturer, and Irz-Svyaz LLC, which produces communication systems and components for unmanned aerial vehicles and missiles. Sanctions also apply to companies from the UAE selling machine tools, laboratory equipment, chemical products, and aircraft spare parts, alongside a Belarusian oil exporter. Ukraine additionally imposed restrictive measures on three Russian individuals: prosecutor Lyudmila Balandina, judge Dmitry Gordeev, and editor Maria Sittel, all accused of involvement in repression, human rights violations, and disinformation. The sanctions package extends to 19 Iranian nationals, seven Sudanese nationals, and 11 Iranian companies involved in Iran's ballistic missile and drone production programs. Advisor Vladyslav Vlasiuk said Ukraine expects further pressure on Russia and its supporters, noting that joint work on the EU's 21st sanctions package is underway.

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Ukraine Introduces New Sanctions Packages in Synchronisation with European Union Decisions

On May 27, 2026, the National Bank of Ukraine (NBU) adopted the Resolution on Amendments to Certain Regulatory Legal Acts of the NBU on Supervision Issues. The synchronisation covers the EU's 20th sanctions package, which targets 120 individuals and entities across key sectors of the Russian economy. The NBU has provided for the following changes and additions: The frequency of NBU on-site inspections and/or on-site supervision of banks and institutions, taking into account their risk level. The procedure for a bank to submit an action plan to the NBU based on the results of on-site supervision has been simplified. The list of electronic signatures that can be used to sign electronic documents has been expanded. The temporary regulations introduced during the martial law period regarding the specifics of organising, conducting and preparing materials for an unscheduled on-site inspection of the structural and separate divisions of an institution engaged in currency exchange transactions will be used on a permanent basis. Issues related to notifying the institution of the decision to apply sanctions for violations in the field of financial monitoring, as well as the written requirement for the institution to comply with the legislation in this field, have been resolved. The resolution enters into force on May 30, 2026.
3190952 pc May 27, 2026 arahman Serbia National Bank of Serbia - Drafts horizon scanning
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National Bank of Serbia Consults on Law on the Protection of Users of Financial Services

On May 27, 2026, the National Bank of Serbia launched a consultation on the Draft Amendments to the Law on the Protection of Financial Services Users in Distance Contracting. The amendments aim to regulate the rights of consumers of financial services when using contracting financial services with remote communication means. Key points include: The service provider is obliged to provide the user, within a reasonable period, before concluding the distance contract, with information about the service provider, the financial service, the distance contract and the method of dispute resolution. This information must be clear, easy to understand and appropriate for the means of distance communication used, and the service provider is obliged to clearly state their commercial purpose. The service provider is obliged to act in good faith when providing such information and must not mislead the consumer with regard to the provision of financial services. Information on the service provider includes: The trading name and registered address. The service provider's line of business. Contact details where the consumer can lodge a complaint. The name of the authority which issued the licence for the service provider. The trading name and registered address. The service provider's line of business. Contact details where the consumer can lodge a complaint. The name of the authority which issued the licence for the service provider. Comments and feedback are welcome up until June 5, 2026 and can be sent via email to zastita.korisnika@nbs.rs .
3192317 pc May 27, 2026 arahman Russia State Duma - News financial services
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Russia's State Duma Advances Legislation Establishing Criminal Penalties for Unlawful Cryptocurrency Mining

On an unspecified date, Russia's State Duma adopted in first reading a bill amending the Criminal Code (Уголовный кодекс) and the Criminal Procedure Code (Уголовно-процессуальный кодекс) to establish criminal liability for unlawful cryptocurrency mining and the operation of mining infrastructure without proper registration. Under the proposed legislation, individuals conducting cryptocurrency mining without being registered in the appropriate registry, or providing mining infrastructure operator services without registration, face criminal penalties if their actions cause significant harm to citizens, organisations, or the state, or generate income in substantial amounts. Penalties include fines up to 1.5 million rubles. Enhanced penalties apply when offences are committed by organised groups or cause particularly severe harm to citizens, organisations, or the state, or generate income in particularly large amounts. These aggravated offences carry sentences of up to five years imprisonment. The bill also introduces corresponding amendments to Article 104.1 of the Criminal Code to expand the scope of asset confiscation provisions to cover unlawful cryptocurrency mining and unlawful mining infrastructure operator activities. These confiscation measures apply to property derived from or used in connection with these offences. The legislation establishes a regulatory framework requiring cryptocurrency miners and mining infrastructure operators to register in a designated registry to operate lawfully in Russia. The bill represents the State Duma's effort to regulate and control cryptocurrency mining activities within its jurisdiction through criminal enforcement mechanisms. The bill will proceed to subsequent readings in the State Duma before potential adoption and implementation.

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Russia's State Duma Announces Bill Establishing Criminal Penalties for Unlawful Cryptocurrency Mining

On May 27, 2026, Russia's State Duma adopted in first reading a bill amending the Criminal Code and the Criminal Procedure Code to establish criminal liability for unlawful cryptocurrency mining and the operation of mining infrastructure without proper registration. Under the proposed legislation, individuals conducting cryptocurrency mining without being registered in the appropriate registry, or providing mining infrastructure operator services without registration, face criminal penalties if their actions cause significant harm to citizens, organisations or the state, or generate income in substantial amounts. Penalties include fines of up to RUB1.5m (approximately €18,186). Enhanced penalties apply when offences are committed by organised groups or cause particularly severe harm to citizens, organisations or the state, or generate income in particularly large amounts. These aggravated offences carry sentences of up to five years' imprisonment. The bill also introduces corresponding amendments to Article 104.1 of the Criminal Code to expand the scope of asset confiscation provisions to cover unlawful cryptocurrency mining and unlawful mining infrastructure operator activities. These confiscation measures apply to property derived from or used in connection with these offences. The legislation establishes a regulatory framework requiring cryptocurrency miners and mining infrastructure operators to register in a designated registry to operate lawfully in Russia.
3186760 pc May 27, 2026 kgurnani Australia Australian Prudential Regulation Authority horizon scanning
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Australian Prudential Regulation Authority Formalises Three-Tiered Proportionality Approach for Banking

On May 27, 2026, the Australian Prudential Regulation Authority (APRA) confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking. The measure responds to the Council of Financial Regulators' Review into Small and Medium-Sized Banks, undertaken in consultation with the Australian Competition and Consumer Commission (ACCC), and aligns with APRA's strategic commitment to balance its primary mandate for financial safety and stability with considerations of competition and efficiency. Following a consultation that closed earlier in 2026, APRA confirmed it will proceed with three key proposals: introducing a third tier of Most Significant Financial Institutions (MSFIs) for banks with total assets greater than $300 billion; raising the asset value threshold for banks to qualify as a Significant Financial Institution (SFI) from $20 billion to $30 billion; and automatically providing a 12-month transition period when a regulated institution moves to a higher tier. APRA also commits to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate. These changes embed additional proportionality into the banking framework and are designed to drive competition in the industry. Therese McCarthy Hockey, APRA Executive Board Member, said the changes reflect APRA's ongoing commitment to building further proportionality into the banking framework and supervision practices, with proportionality expected to deepen over time as APRA identifies more opportunities for greater differentiation between banking tiers. The changes take effect from July 1, 2026. APRA's formal letter responding to consultation submissions is available on the APRA website.

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Australian Prudential Regulation Authority Formalises Three-Tiered Proportionality Approach for Banking

On May 27, 2026, the Australian Prudential Regulation Authority (APRA) confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking. The measure responds to the Council of Financial Regulators' Review into Small and Medium-Sized Banks, undertaken in consultation with the Australian Competition and Consumer Commission (ACCC), and aligns with APRA's strategic commitment to balance its primary mandate for financial safety and stability with considerations of competition and efficiency. Following the consultation that closed earlier in 2026, APRA confirmed it will proceed with three key proposals: Introducing a third tier of Most Significant Financial Institutions (MSFIs) for banks with total assets greater than $300 billion Raising the asset value threshold for banks to qualify as a Significant Financial Institution (SFI) from $20 billion to $30 billion Automatically providing a 12-month transition period when a regulated institution moves to a higher tier. APRA also commits to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate. The changes take effect from July 1, 2026.
3186760 pc May 27, 2026 kgurnani Australia Australian Prudential Regulation Authority horizon scanning
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Australian Prudential Regulation Authority Formalises Three-Tiered Proportionality Approach for Banking

On May 27, 2026, the Australian Prudential Regulation Authority (APRA) confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking. The measure responds to the Council of Financial Regulators' Review into Small and Medium-Sized Banks, undertaken in consultation with the Australian Competition and Consumer Commission (ACCC), and aligns with APRA's strategic commitment to balance its primary mandate for financial safety and stability with considerations of competition and efficiency. Following a consultation that closed earlier in 2026, APRA confirmed it will proceed with three key proposals: introducing a third tier of Most Significant Financial Institutions (MSFIs) for banks with total assets greater than $300 billion; raising the asset value threshold for banks to qualify as a Significant Financial Institution (SFI) from $20 billion to $30 billion; and automatically providing a 12-month transition period when a regulated institution moves to a higher tier. APRA also commits to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate. These changes embed additional proportionality into the banking framework and are designed to drive competition in the industry. Therese McCarthy Hockey, APRA Executive Board Member, said the changes reflect APRA's ongoing commitment to building further proportionality into the banking framework and supervision practices, with proportionality expected to deepen over time as APRA identifies more opportunities for greater differentiation between banking tiers. The changes take effect from July 1, 2026. APRA's formal letter responding to consultation submissions is available on the APRA website.

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APRA formalises three-tiered approach to proportionality in banking prudential framework

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3187359 gc May 27, 2026 gkaliraman United Kingdom Advertising Standards Authority gamblingcompliance
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United Kingdom Advertising Standards Authority Rules Betway Instagram Post Featuring Thierry Henry Not in Breach

On May 27, 2026, the Advertising Standards Authority (ASA) published a ruling on a complaint regarding an Instagram post by Betway Ltd featuring retired footballer Thierry Henry. The ASA determined the ad did not breach the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code). The post, seen in November 2025, featured an image of Henry with text discussing Arsenal's squad depth and included Betway's logo, an 18+ symbol, and the begambleaware.org logo. A researcher from the University of Bristol complained that the ad featured an individual likely to appeal strongly to under-18s, potentially breaching CAP Code rules 16.1, 16.3, and 16.3.12 (Gambling), which prohibit marketing communications for gambling products from including persons likely to appeal strongly to those under 18 years old. Betway argued that Henry, aged 48 at the time and retired from professional football for over a decade, primarily appealed to adult audiences. The operator provided data showing Henry had 4.32 million Instagram followers globally, with only 19,483 estimated to be based in the UK and under 18 years old—significantly below the 100,000-follower threshold CAP Guidance indicates as indicative of strong appeal to under-18s. Betway noted Henry's punditry work was primarily for CBS Sports, an American network unavailable in the UK, with only occasional guest appearances on Sky Sports' Monday Night Football. The ASA assessed Henry's profile as a retired footballer-turned-pundit and concluded his social media presence and television appearances were unlikely to indicate strong appeal to UK under-18s. The authority considered viral moments from his punditry work centred on tactical analysis rather than content resonating with younger audiences. The ASA upheld Betway's position and ruled the ad did not breach the CAP Code.

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Betway Ltd

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3185175 pc May 27, 2026 adavies European Union European Securities and Markets Authority horizon scanning
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European Securities and Markets Authority Consults on Revised Guidelines for T+1 Settlement Allocations and Confirmations

On May 26, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on updated guidelines for standardised procedures and messaging protocols to support the transition to T+1 settlement. The consultation addresses post-trade communication requirements under the Central Securities Depositories Regulation (CSDR) and reflects amendments proposed in ESMA's Final Report on Amendments to the Regulation (EU) 2014/909 on Settlement Discipline (RTS on Settlement Discipline). The revised guidelines mandate the use of electronic, standardised communication channels and international messaging standards for allocations and confirmations. ESMA is removing references to non-electronic and non-machine-readable communication methods, including oral allocations and confirmations, except in cases of temporary technical disruptions. These changes aim to make post-trade communication faster, clearer, and more consistent across the European Union, enabling market participants to meet tighter timelines under the T+1 settlement framework. The revised guidelines are scheduled to apply from December 7, 2026, aligning with the expected application date of new requirements under the RTS on Settlement Discipline. This timing precedes the formal endorsement of the RTS by the European Commission, providing stakeholders adequate time to submit feedback and prepare for implementation. ESMA emphasises the importance of preparing for the broader regulatory transition to T+1 settlement, which takes effect on October 11, 2027. Stakeholders, including investment firms, credit institutions, and central securities depositories, should submit feedback by July 7, 2026. ESMA will consider responses and expects to publish the final report with updated guidelines by October 2026.

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European Securities and Markets Authority Consults on Revised Guidelines for T+1 Settlement Allocations and Confirmations

On May 26, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on amendments to its guidelines on standardised procedures and messaging protocols used between investment firms and their professional clients under Article 6(2) of Regulation (EU) No. 909/2014 (Central Securities Depositories Regulation – CSDR). The consultation addresses post-trade communication requirements under the CSDR and reflects amendments proposed in ESMA's Final Report on Amendments to the Regulation (EU) 2014/909 on Settlement Discipline (RTS on Settlement Discipline). The revised guidelines mandate the use of electronic, standardised communication channels and international messaging standards for allocations and confirmations. ESMA is removing references to non-electronic and non-machine-readable communication methods, including oral allocations and confirmations, except in cases of temporary technical disruptions. These changes aim to make post-trade communication faster, clearer and more consistent across the European Union, enabling market participants to meet tighter timelines under the T+1 settlement framework. The revised guidelines are scheduled to apply from December 7, 2026, aligning with the expected application date of new requirements under the RTS on Settlement Discipline. This timing precedes the formal endorsement of the RTS by the European Commission, providing stakeholders adequate time to submit feedback and prepare for implementation. ESMA is seeking feedback on its consultation by July 7, 2026, which can be submitted via this link .
3187360 gc May 27, 2026 gkaliraman United Kingdom Advertising Standards Authority gamblingcompliance
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United Kingdom Advertising Standards Authority Upholds Ruling Against Oddschecker Over High-Appeal Footballer Imagery

On May 27, 2026, the Advertising Standards Authority (ASA) upheld a ruling against Cyan Blue Odds Ltd, trading as Oddschecker, for breaching advertising standards in two Instagram posts featuring high-profile footballers. The posts, seen in November 2025, compared betting odds from bookmakers. The first featured Harry Kane with text stating "Harry Kane is the most backed player to win the Ballon d'Or in 2026 (32% of bets)". The second featured Erling Haaland with text stating "NORWAY ARE THE MOST BACKED TO WIN 2026 WC" and included specific odds information. A University of Bristol researcher complained that the ads breached the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) by featuring individuals with strong appeal to under-18s. Oddschecker argued the posts were editorial commentary rather than advertisements and claimed account-level age restrictions—setting the account to 18+ and including an age disclaimer in the bio—mitigated risks. The ASA determined both posts constituted advertisements falling within the scope of the CAP Code, as they promoted placing bets through Oddschecker's service. The ASA found the ads breached CAP Code rule 1.3 (Social responsibility), which requires gambling marketing communications not be of strong appeal to children or feature persons whose example would be followed by those under 18. The ASA noted that despite Instagram's AI technology for detecting underage users, significant numbers of under-18s access the platform, including those with self-declared ages over 18. The ASA classified both Kane and Haaland as high-risk individuals due to their prominence in top-flight football and international play, making them particularly appealing to minors. The ASA directed that the ads must not appear again in their complained-of form and instructed Oddschecker not to feature persons with strong appeal to under-18s in future gambling advertisements.

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UK advertising authority upholds ruling against Oddschecker over high-appeal footballer imagery

On May 27, 2026, UK's Advertising Standards Authority (ASA) upheld a ruling against Cyan Blue Odds Ltd, trading as Oddschecker, for breaching advertising standards in two Instagram posts featuring high-profile footballers. The posts, seen in November 2025, compared betting odds from bookmakers. The first featured Harry Kane with text stating "Harry Kane is the most backed player to win the Ballon d'Or in 2026 (32% of bets)" . The second featured Erling Haaland with text stating "NORWAY ARE THE MOST BACKED TO WIN 2026 WC" and included specific odds information. A University of Bristol researcher complained that the ads breached the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) by featuring individuals with strong appeal to under-18s. Oddschecker argued the posts were editorial commentary rather than advertisements and claimed account-level age restrictions—setting the account to 18+ and including an age disclaimer in the bio—mitigated risks. The ASA determined both posts constituted advertisements falling within the scope of the CAP Code, as they promoted placing bets through Oddschecker's service. The ASA found the ads breached CAP Code rule 1.3 (Social responsibility), which requires gambling marketing communications not be of strong appeal to children or feature persons whose example would be followed by those under 18. The ASA noted that despite Instagram's AI technology for detecting underage users, significant numbers of under-18s access the platform, including those with self-declared ages over 18. The ASA classified both Kane and Haaland as high-risk individuals due to their prominence in top-flight football and international play, making them particularly appealing to minors. The ASA directed that the ads must not appear again in their complained-of form and instructed Oddschecker not to feature persons with strong appeal to under-18s in future gambling advertisements.
3222389 pc May 27, 2026 arahman Montenegro Payment Operations and Payment Systems - CBCG horizon scanning
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Montenegro's Central Bank Amends Minimum Payment Transaction Value for RTGS System Processing

On May 27, 2026, the Council of the Central Bank of Montenegro (CBCG) passed a decision amending the Decision on Minimum Value of Payment Transactions to be Processed in the Real-Time Gross Settlement (RTGS) System. The amendment modifies the implementation timeline for the minimum transaction value requirements governing which payments must be processed through Montenegro's RTGS infrastructure. The decision, adopted pursuant to Article 44, paragraph (2), item 3 of the Central Bank of Montenegro Law and Article 159, paragraph (2) of the Payment System Law, replaces the original provision that required the minimum value threshold to apply seven days after the decision's entry into force. The amended provision establishes a specific effective date of June 20, 2026, for the minimum transaction value requirements to take effect. This change provides payment system participants with a defined implementation date rather than a rolling timeline calculated from publication. The RTGS system is Montenegro's critical infrastructure for high-value, time-sensitive payment settlement. The minimum transaction value threshold determines which payments must route through this system versus alternative payment processing channels. By establishing a fixed effective date, the CBCG enables payment service providers and financial institutions to plan operational adjustments and system configurations with certainty. The decision entered into force upon publication in the Official Gazette of Montenegro. Payment service providers and other participants in Montenegro's payment system should ensure compliance with the minimum transaction value requirements by June 20, 2026.

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Montenegro's Central Bank Amends Decision on Minimum Payment Transaction Value for RTGS System Processing

On May 27, 2026, the Council of the Central Bank of Montenegro (CBCG) passed a Decision amending the Decision on Minimum Value of Payment Transactions to be Processed in the Real-Time Gross Settlement (RTGS) System . The amendment modifies the implementation timeline for the minimum transaction value requirements governing which payments must be processed through Montenegro's RTGS infrastructure. The Decision on Minimum Value of Payment Transactions to be Processed in the RTGS System shall apply from June 20, 2026. The amending decision shall enter into force on the day of its official publication in the official gazette.
3186725 pc May 27, 2026 adavies European Union Press Releases - European Parliament horizon scanning
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European Union Council Extends Restrictive Measures Against Russian Human Rights Violators Until May 2027

On May 26, 2026, the Council of the European Union extended its framework for restrictive measures targeting those responsible for serious human rights violations and abuses in Russia. The measures remain in effect until May 28, 2027, and currently apply to 72 individuals and one entity. The restrictive measures include asset freezes on listed individuals and entities, prohibitions on European Union citizens and companies from making funds available to those sanctioned, and travel bans preventing individuals from entering or transiting through EU territories. The framework also encompasses trade restrictions on exporting equipment to Russia that could be used for internal repression or telecommunications monitoring and interception. The Council established this sanctions regime in March 2024 in response to accelerating and systematic repression in Russia, including the death of Alexei Navalny. The framework targets those responsible for repression of civil society and democratic opposition, undermining democracy and the rule of law, and those providing support for or involved in such misconduct. The European Union expressed deep concern about the continuing deterioration of the human rights situation in Russia, particularly in the context of Russia's war of aggression against Ukraine, and remains unwavering in its condemnation of human rights violations and repressions in the country. The extension reflects the EU's commitment to holding accountable those responsible for serious human rights abuses in Russia. The measures will remain in place for a further 12 months, with the possibility of future renewal based on the evolving situation. Human rights abuses in Russia: EU sanctions (background information): https://www.consilium.europa.eu/en/policies/sanctions/restrictive-measures-against-russia-over-ukraine/human-rights/ Council Decision (CFSP) 2024/1484 of May 27, 2024: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32024D1484

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Council of the European Union Extends Restrictive Measures Against Russian Human Rights Violators Until May 2027

On May 26, 2026, the Council of the European Union announced that it had extended its framework for restrictive measures targeting those responsible for serious human rights violations and abuses in Russia. The measures remain in effect until May 28, 2027, and currently apply to 72 individuals and one entity. The restrictive measures include asset freezes on listed individuals and entities, prohibitions on European Union citizens and companies from making funds available to those sanctioned, and travel bans preventing individuals from entering or transiting through EU territories.
3185290 pc May 27, 2026 adavies Iceland All regulations, laws, and circulars financial services
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Iceland's Financial Supervisory Authority Implements European Banking Authority Guidelines on Ancillary Activities

On May 21, 2026, Iceland's Central Bank (Seðlabanki Íslands) issued a circular distributing guidelines from the European Banking Authority (EBA) on the definition of ancillary activities under Regulation (EU) No. 575/2013 (Capital Requirements Regulation or CRR), as amended by Regulation (EU) 2024/1623 (CRR III). The guidelines, designated EBA/GL/2026/01, became effective on May 4, 2026. The guidelines establish clear, uniform criteria for determining which activities qualify as ancillary activities under Article 4(18) of the CRR. An ancillary activity is defined as a company whose main business—whether serving entities within a financial group or external customers—consists of direct continuation of banking activities, operational leasing, property ownership or management, data processing services, or other activities supplementary to banking services or comparable activities as determined by the EBA. The guidelines clarify how competent authorities and financial institutions should assess whether activities constitute direct continuation of banking services, are linked or supplementary to banking services, or are comparable to such services. The guidelines also establish a process whereby competent authorities may notify the EBA of activities not directly falling within these categories, providing reasoned justification for determining comparability. Iceland's Central Bank directs financial institutions to familiarize themselves with these guidelines and apply them as appropriate in their operations. The Central Bank will use the guidelines in supervisory activities and when assessing compliance with relevant provisions. The circular will be published on the Central Bank's website alongside a link to the English version of the EBA guidelines.

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Iceland's Financial Supervisory Authority Implements European Banking Authority Guidelines on Ancillary Activities

On May 21, 2026, the Central Bank of Iceland (CBI) issued a circular (No. 15/2026) directing financial institutions to familiarise themselves with the European Banking Authority (EBA) guidelines ( EBA/GL/2026/01 ) specifying the criteria for the identification of activities referred to in Article 4(1)(18) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR). The guidelines establish clear, uniform criteria for determining which activities qualify as ancillary activities under Article 4(18) of the CRR. An ancillary activity is defined as a company whose main business, whether serving entities within a financial group or external customers, consists of direct continuation of banking activities, operational leasing, property ownership or management, data processing services, or other activities supplementary to banking services or comparable activities as determined by the EBA. The guidelines clarify how competent authorities and financial institutions should assess whether activities constitute direct continuation of banking services, are linked or supplementary to banking services, or are comparable to such services. The guidelines also establish a process whereby competent authorities may notify the EBA of activities not directly falling within these categories, providing reasoned justification for determining comparability. The CBI will use the guidelines in supervisory activities and when assessing compliance with relevant provisions.
3184363 pc May 27, 2026 msolomon Germany Official Gazette horizon scanning
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Germany Publishes Regulation on Crypto-Asset Market Notification and Documentation Requirements

On May 26, 2026, Germany's Official Gazette published the Regulation on Notifications and Submission of Documents under the Crypto-Asset Markets Supervision Act (Kryptomärkteanzeigenverordnung — KMAnzV), which the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) led. The regulation, issued on May 20, 2026, establishes procedural requirements for notifications and documentation submissions related to crypto-asset market activities under Germany's crypto-asset regulatory framework. The KMAnzV sets out the administrative procedures that market participants must follow when notifying relevant authorities and submitting required documentation in connection with crypto-asset market operations. The regulation classifies as a supervisory law provision and forms part of Germany's broader regulatory infrastructure governing crypto-assets. The Federal Financial Supervisory Authority (BaFin) oversaw the regulation's development and implementation, reflecting its role as Germany's primary financial services regulator. The regulation entered into force upon publication in the Official Gazette (BGBl. I Nr. 153). Market participants engaged in crypto-asset activities must ensure compliance with the notification and documentation requirements established under the KMAnzV. Entities subject to the regulation should review the full text to understand their specific obligations regarding timing, format, and content of notifications and submissions to BaFin. The regulation is available for download from the Official Gazette website, with both individual and bundled document formats provided.

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Federal Law Gazette Part I - Ordinance on Notifications and Submission of Documents under the Crypto Markets Supervision Act

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3185064 pc May 26, 2026 arahman Finland Financial Supervisory Authority horizon scanning
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Finland's Financial Supervisory Authority Terminates Banking System Status Reporting Requirements

On May 26, 2026, Finland's Financial Supervisory Authority (FSA) announced the termination of banking system status S-reporting requirements. The FSA repealed sections of Regulation and Guidance 1/2014 on Credit Institution Risk Data Collection that pertained to banking system status reporting. The amendments to Regulation and Guidance 1/2014 take effect on June 15, 2026. This change eliminates the obligation for credit institutions to submit banking system status S-reports to the FSA, streamlining regulatory reporting requirements for the banking sector. The removal of this reporting obligation represents a reduction in administrative burden for credit institutions operating in Finland. For further information regarding this regulatory change, credit institutions and other stakeholders may contact Torsten Groschup, senior specialist at the FSA, by telephone at 09 183 5333 or by email at torsten.groschup@finanssivalvonta.fi.

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Finland's Financial Supervisory Authority Terminates Banking System Status Reporting Requirements

On May 26, 2026, Finland's Financial Supervisory Authority (FSA) announced the termination of banking system status S-reporting requirements. The FSA repealed sections of Regulation and Guidance 1/2014 on Credit Institution Risk Data Collection that pertained to banking system status reporting. The amendments to Regulation and Guidance 1/2014 take effect on June 15, 2026. This change eliminates the obligation for credit institutions to submit banking system status S-reports to the FSA, streamlining regulatory reporting requirements for the banking sector. The removal of this reporting obligation represents a reduction in administrative burden for credit institutions operating in Finland.
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