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3115030 pc Apr 30, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Non-Banking Financial Company Stressed Asset Resolution Directions

On April 29, 2026, the Reserve Bank of India (RBI) issued amendment directions to the Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025. The amendments establish a new framework for resolving exposures of non-banking financial companies (NBFCs) affected by natural calamities and external events such as riots or disturbances. The RBI introduced Chapter VI-A to the directions, which establishes a dedicated resolution mechanism for calamity-impacted borrowers. Eligible borrowers are those with accounts classified as 'Standard' and not in default for more than 30 days as of the calamity date. NBFCs may implement resolution plans upon recommendations from State Level Bankers' Committees (SLBCs), Union Territory Level Bankers' Committees (UTLBCs), or District Consultative Committees (DCCs). Resolution must be invoked within 45 days of calamity declaration and implemented within 135 days. The amendments permit NBFCs to invoke resolution suo moto without waiting for formal borrower requests, with borrowers retaining the option to opt out until day 135. Relief measures may include payment rescheduling, conversion of accrued interest into credit facilities, and sanction of additional finance. The framework requires NBFCs to factor in insurance proceeds, government interest subvention schemes, and relief already provided by state or central governments. For agricultural loans, revenue certificates may substitute original title records in affected areas. NBFCs must report relief measures half-yearly by September 30 and March 31 on the Centralized Information Management System (CIMS) portal. Consequential amendments were issued to the Credit Risk Management, Income Recognition Asset Classification and Provisioning, and Responsible Business Conduct directions. The amendments become effective July 1, 2026.

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Reserve Bank of India Amends Non-Banking Financial Company Stressed Asset Resolution Directions

On April 29, 2026, the Reserve Bank of India (RBI) issued amendment directions to the Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025. The amending directions prescribe: Definitions and board policies including introducing definitions for the date of invocation and natural calamity, and mandating that a non-banking financial company (NBFC) incorporate provisions for resolution into its board-approved policy, outlining objective principles for relief, verifiable parameters, and a delegation matrix for timely implementation. Scope of calamity resolutions stipulating that chapter VI-A shall govern resolutions for borrowers impacted by declared natural calamities or external events causing economic loss, clarifying that these instructions apply to fresh resolutions and do not apply to a NBFC's refinance portfolio, and requiring that decisions from special bankers' committee meetings be adequately publicized. Eligibility and implementation timelines requiring that eligible borrowers' accounts must be classified as standard and not in default for more than 30 days on the calamity occurrence date, and mandating that resolution must be invoked no later than 45 days and implemented within 135 days from the calamity declaration date. Resolution plans and ancillary measures outlining that resolution plans may include rescheduling payments, converting accrued interest, or sanctioning additional finance based on viability assessments, and allowing a NBFC to implement a plan while providing the borrower an opt-out option, factoring in insurance proceeds, and accepting alternative land ownership certificates for agricultural loans. Reporting requirements mandating that a NBFC upload data on relief measures half-yearly to the CIMS portal, or submit a 'NIL' statement if no measures are extended. The amendments will come into force with effect from July 1, 2026.
3114597 pc Apr 30, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Amendment Directions on Non-Banking Financial Company Registration Requirements

On April 29, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026. This follows a consultation period that concluded on March 4, 2026, during which the RBI sought stakeholder feedback on draft amendment directions initially released on February 10, 2026. The amendment directions introduce key changes to the regulatory framework for non-banking financial companies (NBFCs). The RBI has exempted NBFCs not availing public funds and not having customer interface—including Type I NBFCs—from registration requirements if their asset size is less than ₹1,000 crore, subject to specified conditions. The directions also establish procedures for deregistration or conversion of existing NBFCs not availing public funds and not having customer interface, including Type I NBFCs. The RBI examined all comments and feedback received during the consultation period and incorporated consequent modifications into the final amendment directions. A statement detailing the comments and feedback received has been provided in an annex to the press release. These amendments form part of the RBI's broader review of its regulatory framework for NBFCs and reflect a scale-based regulatory approach. The changes are intended to streamline compliance requirements for smaller NBFCs operating without public funds and customer-facing operations, while maintaining appropriate regulatory oversight. The amendment directions are effective immediately upon issuance. REFERENCE: Reserve Bank of India Press Release, April 29, 2026: RBI issues Amendment Directions on review of regulatory framework including registration requirement for 'NBFCs not availing public funds and not having customer interface'

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Reserve Bank of India Seeks Issues Amendments to its Directions for Registration, Exemptions and Framework for Scale Based Regulation for Non-Banking Financial Companies

The Reserve Bank of India (RBI) has released a series of amendments to its directions for registration, exemption and framework for scaled based regulation of non-banking financial companies (NBFCs). The directions prescribe: NBFC typology and definitions including introducing specific definitions for a type I NBFC as one not availing public funds and not having any customer interface, a type II NBFC as any other registered NBFC, and an unregistered type I NBFC as one exempted from registration provisions under the Reserve Bank of India Act, 1934. Registration exemptions and asset thresholds mandating that NBFCs not availing public funds and not having any customer interface with an asset size of less than INR 1,000 crore (US$120m) are exempted from specific registration provisions and may apply for deregistration, while those with an aggregate asset size of INR 1,000 crore (US$120m) or more must apply for registration as a type I NBFC through the PRAVAAH portal. Overseas investment and regulatory compliance stipulating that an unregistered type I NBFC intending to undertake overseas investment in the financial services sector must register with the Reserve Bank of India, prohibiting them from undertaking overseas investment in the non-financial sector, and requiring type I NBFCs to disclose their status regarding public funds and customer interface in the notes to accounts of their financial statements. The amendments will come into force from July 1, 2026.
3116662 pc Apr 30, 2026 ggallwey Brazil Central Bank of Brazil financial services
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Brazil's Central Bank Updates International Payment Service Rules to Enhance Security and Transparency

On April 30, 2026, the Central Bank of Brazil (BC) approved new regulations governing international payment and transfer services, commonly referred to as eFX (electronic foreign exchange). The update aims to strengthen security, transparency, and Brazil's alignment with global standards for preventing financial illicit activity. The eFX service facilitates international transactions including overseas purchases, international service contracts, and cross-border fund transfers. Following a public consultation conducted in 2025, the new regulation restricts eFX services to institutions authorised by the BC. Institutions lacking this authorisation may continue providing eFX services provided they request BC authorisation by May 2027. To enhance supervision and user protection, eFX service providers must submit detailed monthly information to the BC and maintain segregated accounts exclusively for eFX customer funds in transit. The regulation also expands eFX services to include transfers related to financial and capital market investments in Brazil or abroad, up to the equivalent of US$10,000. The regulation applies to all financial institutions offering eFX services in Brazil and impacts payment service providers, banks, and other authorised entities. The expansion of permitted transfer types reflects efforts to modernise Brazil's cross-border payment infrastructure while maintaining robust oversight mechanisms. BC Resolution 561 enters into force on October 1, 2026. Institutions without existing BC authorisation must apply before May 2027 to continue operating eFX services beyond the implementation date.

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Brazil Central Bank Updates International Payment Service Rules to Enhance Security and Transparency

On April 30, 2026, the Central Bank of Brazil (BCB) adopted Resolution No. 561, amending the regulatory framework for international payment and transfer services (eFX) under Resolution No. 277/2022 . The update strengthens operational, reporting and control requirements for cross-border payment activities, while expanding the scope of permitted transactions. The new regulation establishes that the eFX service will be restricted to institutions authorized to operate by the Central Bank. Institutions that do not yet have this authorization may continue to provide the eFX service, provided they request authorization to operate from the Central Bank by May 2027.Entities that fail to apply, or whose applications are rejected, must cease operations within 30 days. The regulation also expands the eFX service by allowing transfers related to investments in the financial and capital markets, in Brazil or abroad, up to the equivalent of US$10,000. It also establishes stricter operational controls, including a requirement that sending users be clients of the eFX provider and that providers maintain contractual arrangements with foreign counterparties. To enhance transparency and supervisory oversight, the regulation mandates monthly reporting through the Central Bank’s Exchange System by the tenth day of the following month and requires institutions to retain transaction data for a period of ten years. Fund flows must be conducted through regulated accounts or dedicated accounts used exclusively for eFX activity, with the offsetting of user funds prohibited. In addition, payments and receipts between eFX providers and foreign counterparties must be conducted via foreign exchange transactions or non-resident accounts, with the use of virtual assets explicitly prohibited. Resolution No. 561 enters into force on October 1, 2026, with transitional compliance deadlines extending through May 2027.
3114567 pc Apr 30, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Non-Banking Financial Company Income Recognition and Asset Classification Rules

On April 29, 2026, the Reserve Bank of India (RBI) issued amendment directions to the Reserve Bank of India (Non-Banking Financial Companies – Income Recognition, Asset Classification and Provisioning) Directions, modifying prudential norms applicable to non-banking financial companies (NBFCs). The amendments introduce provisions related to resolution plans implemented under Chapter VI-A of the Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025. Key changes include: borrower accounts classified as 'Standard' may be retained as such upon resolution plan implementation; accounts that slipped into non-performing asset (NPA) status between the calamity occurrence date and plan implementation shall be upgraded to 'Standard' upon implementation; and accounts restructured multiple times under the resolution framework shall continue to be classified as 'Standard'. The amendments establish additional specific provisioning requirements. NBFCs must maintain an additional five percent provision of outstanding debt for borrowers with implemented resolution plans, over and above applicable prudential provisions, subject to a 100 percent ceiling. For accounts requiring repeated restructuring, NBFCs must provision an additional five percent for each restructuring instance, similarly subject to the 100 percent ceiling. These additional provisions may be written back once borrowers pay at least 20 percent of outstanding debt without slipping into NPA or requiring further restructuring. The amendments also clarify interest income recognition: for accounts with implemented resolution plans, interest income shall be recognised on an accrual basis; for accounts requiring repeated restructuring, interest income shall be recognised on a cash basis. These amendments come into force on July 1, 2026. **Reference:** Reserve Bank of India. (2026). Reserve Bank of India (Non-Banking Financial Companies – Income Recognition, Asset Classification and Provisioning) Amendment Directions, 2026. RBI/2026-27/69 DOR.STR.REC.58/21-04-048/2026-27.

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Reserve Bank of India Amends Rules on Income Recognition and Asset Classification for Non-Banking Financial Companies

The Reserve Bank of India (RBI) has released the Reserve Bank of India (non-banking financial companies – income recognition, asset classification and provisioning) amendment directions, 2026. The amending directions prescribe: Asset classification norms stipulating that borrower accounts classified as standard may be retained as such upon the implementation of a resolution plan in adherence to chapter VI-A, mandating that accounts slipping into non-performing asset (NPA) status between the calamity occurrence and plan implementation be upgraded to standard, and ensuring that accounts previously restructured requiring subsequent restructuring under chapter VI-A continue to be classified as standard. Additional specific provisioning requiring a non-banking financial company (NBFC) to make an additional specific provision of five percent of the outstanding debt for borrowers with an implemented chapter VI-A resolution plan, mandating another five percent for each instance of repeated restructuring subject to a 100 percent ceiling, and allowing these provisions to be written back upon the borrower paying at least 20 percent of the outstanding debt without slipping into NPA status or requiring further restructuring. Interest income recognition prescribing that interest income recognition for borrower accounts with a chapter VI-A resolution plan shall be on an accrual basis, while stipulating that interest income for accounts undergoing repeated restructuring must be recognized on a cash basis. The amendments will come into force with effect from July 1, 2026.
3114562 pc Apr 30, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Non-Banking Financial Companies Responsible Business Conduct Directions

On April 29, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Amendment Directions, 2026. The amendment modifies the existing directions applicable to non-banking financial companies (NBFCs) operating in India. The amendment introduces new provisions under Chapter IV (Miscellaneous) of the directions, specifically adding Part E titled "Measures in case of declaration of calamity." Under the new Section 105A, NBFCs are granted discretionary authority to provide relief measures to customers in areas where a calamity has been declared. These relief measures may include waiver or reduction of various fees and charges. The relief period is capped at a maximum of one year from the date of calamity declaration. This provision enables NBFCs to support customers affected by declared calamities while maintaining flexibility in implementation. The amendment is issued under the powers conferred by sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934; sections 30A and 32 of the National Housing Bank Act, 1987; and section 3 read with sections 31A and 6 of the Factoring Regulation Act, 2011. The amendment comes into force with effect from July 1, 2026. NBFCs must ensure compliance with the new provisions from this effective date. **Reference:** Reserve Bank of India Notification RBI/2026-27/70 (April 29, 2026)

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Reserve Bank of India Amends Directions on Responsible Business Conduct for Non-Banking Financial Companies

The Reserve Bank of India (RBI) has issued the issued the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Amendment Directions, 2026 The amendment introduces new provisions under Chapter IV (Miscellaneous) of the directions, granting non-banking financial companies discretionary authority to provide relief measures waivers or reductions of various fees and charges to customers in areas where a calamity has been declared for up to a year. The amendments take effect on July 1, 2026.
3110024 pc Apr 30, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Capital Charge Directions for Commercial Banks Under Standardised Approach

On April 27, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Capital Charge for Credit Risk – Standardised Approach) Directions, 2026, effective from April 1, 2027. The directions establish prudential norms for calculating risk-weighted assets for credit risk using the Standardised Approach (SA), as prescribed under the Basel III framework finalised by the Basel Committee on Banking Supervision in December 2017. The directions apply to commercial banks under RBI jurisdiction, excluding Small Finance Banks, Payments Banks, and Local Area Banks. The SA framework permits banks to assign risk weights to banking book exposures based on either prescribed risk weights for specific exposure categories or ratings assigned by eligible credit rating agencies (ECRAs). Key exposure classes include domestic and foreign sovereigns, banks, corporates, retail exposures, micro, small and medium enterprises (MSMEs), real estate, non-performing assets, and equity investments in funds. The directions introduce comprehensive requirements for credit risk mitigation, including collateralised transactions using the comprehensive approach, on-balance sheet netting, and guarantees. Banks must implement robust due diligence procedures to ensure risk weights align with internal credit assessments. The framework establishes specific risk weight tables for various counterparty types and maturity profiles, with adjustments based on observed default rates published by ECRAs. Housing loans to individuals attract differentiated risk weights based on loan-to-value ratios and loan sequencing. The directions also prescribe treatment for unhedged foreign currency exposures and securitisation exposures. Banks must comply with these directions from April 1, 2027, replacing corresponding provisions in the Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025.

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India's Reserve Bank Issues Capital Charge Directions for Commercial Banks Under Standardised Approach

On April 27, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Capital Charge for Credit Risk – Standardised Approach) Directions, 2026, effective from April 1, 2027. The directions establish prudential norms for calculating risk-weighted assets for credit risk using the Standardised Approach (SA), as prescribed under the Basel III framework finalised by the Basel Committee on Banking Supervision in December 2017. The directions apply to commercial banks under RBI jurisdiction, excluding Small Finance Banks, Payments Banks, and Local Area Banks. The SA framework permits banks to assign risk weights to banking book exposures based on either prescribed risk weights for specific exposure categories or ratings assigned by eligible credit rating agencies (ECRAs). Key exposure classes include domestic and foreign sovereigns, banks, corporates, retail exposures, micro, small and medium enterprises (MSMEs), real estate, non-performing assets, and equity investments in funds. The directions introduce comprehensive requirements for credit risk mitigation, including collateralised transactions using the comprehensive approach, on-balance sheet netting, and guarantees. Banks must implement robust due diligence procedures to ensure risk weights align with internal credit assessments. The framework establishes specific risk weight tables for various counterparty types and maturity profiles, with adjustments based on observed default rates published by ECRAs. Housing loans to individuals attract differentiated risk weights based on loan-to-value ratios and loan sequencing. The directions also prescribe treatment for unhedged foreign currency exposures and securitisation exposures. Banks must comply with these directions from April 1, 2027, replacing corresponding provisions in the Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025.
3117928 gc Apr 30, 2026 prandeo Denmark Gaming advertising news gamblingcompliance
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Denmark's Gaming Advertising Board Criticises Betano for Missing Responsible Gaming Messages and Age Markings

On April 30, 2026, Denmark's Gaming Advertising Board (Spilreklamenævnet) issued a critical decision against gaming operator Betano for failing to include responsible gaming messaging and age markings in a Facebook advertisement. The Gaming Advertising Board received a complaint on December 30, 2025, regarding a Facebook post from "Vores Liga," a football podcast group where Betano serves as a partner and sponsor. The complaint alleged that the post lacked a responsible gaming message, references to support resources including "StopSpillet" and "ROFUS," and an age marking ("18+"). Under points 9 and 14 of the industry's Code of Conduct, gaming operators must include such information when disseminating gaming marketing materials (referred to as "disclosure obligations"). The Gaming Advertising Board determined that the Facebook post constituted gaming marketing in the form of "branding" and therefore was subject to disclosure obligations, regardless of whether specific products from Betano were being marketed. Consequently, the board issued a critical statement against Betano for failing to comply with these requirements. The Gaming Advertising Board is a self-regulatory body established by the gaming industry to adjudicate complaints regarding gaming marketing in Denmark and issue critical statements where operators market in violation of the industry's adopted Code of Conduct. The board comprises a judge as chair, three representatives from the gaming industry, and three representatives of gaming consumers. Further information regarding the board and its operations is available at www.spilreklamenaevnet.dk.

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Danish Gaming Advertising Board criticises Betano over missing responsible gambling messages and age restrictions

On April 30, 2026, Denmark's Gaming Advertising Board issued a critical decision against Betano for failing to include responsible gambling messaging and age markings in a Facebook advertisement. The Gaming Advertising Board received a complaint on December 30, 2025, concerning a Facebook post published by “Vores Liga”, a football podcast group for which Betano acts as a partner and sponsor. The complaint alleged that the post lacked a responsible gambling message, references to support resources including “StopSpillet” and “ROFUS”, and an age marking (“18+”). Under sections 9 and 14 of the industry’s Code of Conduct, gambling operators are required to include such information when disseminating gambling marketing materials (referred to as the “duty to provide information”). The Gaming Advertising Board determined that the Facebook post constituted gambling marketing in the form of “branding” and was therefore subject to these disclosure obligations, regardless of whether specific Betano products were promoted. Consequently, the Board issued criticism against Betano for failing to comply with the applicable responsible gambling and age-related disclosure requirements.
3114580 pc Apr 30, 2026 kgurnani Abu Dhabi Abu Dhabi Global Market (ADGM) financial services
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Abu Dhabi Global Market's Financial Services Regulatory Authority Updates Rulebooks on Staking

On 29 April 2026, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) published updated rulebooks governing staking activities within its jurisdiction. In accordance with Part 2 of the Financial Services and Markets Regulations 2015, the FSRA made three rulebook amendments effective on 29 April 2026. These comprise updates to the Conduct of Business Rulebook (COBS_VER23.290426), the Funds Rulebook (FUNDS_VER12.290426), and the Glossary Rulebook (GLO_VER27.290426). The amendments address regulatory requirements specific to staking services and related conduct obligations for financial services firms operating within the ADGM. The updated rulebooks establish the regulatory framework governing staking activities, including conduct of business standards applicable to firms offering staking services and requirements for funds engaged in staking arrangements. The Glossary Rulebook amendments provide updated definitions and terminology relevant to the staking regulatory regime. These rulebook updates apply to all financial services firms licensed or operating within the ADGM that engage in staking-related activities. The amendments came into effect on 29 April 2026 and represent the FSRA's formal regulatory response to staking as an emerging financial services activity within the ADGM's jurisdiction. The updated rulebooks are available on the ADGM Legal Framework portal, with detailed amendments outlined in the appendices accompanying each rulebook version. **Reference:** Abu Dhabi Global Market, Financial Services Regulatory Authority, 29 April – FSRA Rules (Staking), available at: https://www.adgm.com/

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Abu Dhabi Global Market's Financial Services Regulatory Authority Updates Rulebooks on Staking

On 29 April 2026, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) published updated rulebooks governing staking activities within its jurisdiction. In accordance with Part 2 of the Financial Services and Markets Regulations 2015, the FSRA made three rulebook amendments effective on 29 April 2026. The amendments address regulatory requirements specific to staking services and related conduct obligations for financial services firms operating within the ADGM. Key amendments are: Staking is explicitly regulated Staking of virtual assets is formally recognised as a regulated activity under ADGM rules. Firms cannot offer staking services unless authorised under FSRA permissions. The rules also clarify that staking includes validator participation, delegated staking on behalf of clients, and any arrangement where firms generate yield from locking client assets. Only Accepted Virtual Assets (AVAs) can be used for staking in regulated activities and firms must still meet AVA assessment criteria before offering staking. 2. Client asset protection heightened Firms offering staking must clearly segregate client assets, maintain ownership clarity, and disclose risks of slashing, lock-up periods, illiquidity. 3. Disclosure and transparency obligations enhanced Firms must provide a clear explanation of how rewards are generated, fee structures, validator selection process, and ongoing reporting on staking performance. 4. Prudential and risk management expectations made clear Staking providers must implement operational risk controls, technology risk management, and governance over validator selection.
3102392 pc Apr 30, 2026 pthandapani Taiwan The Executive Yuan Gazette Online horizon scanning
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Taiwan's Financial Supervisory Commission Amends Futures Commission Merchant Financial Reporting Regulations

On April 27, 2026, Taiwan's Financial Supervisory Commission (FSC) issued an order amending partial articles of the "Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants." The amended regulations will govern how futures commission merchants prepare and present their financial reports. The FSC's amendment addresses specific provisions within the existing regulatory framework to ensure futures commission merchants maintain appropriate financial reporting standards and transparency. This update reflects the FSC's ongoing efforts to strengthen financial oversight and ensure compliance within Taiwan's futures market. The amended regulations will come into force from fiscal year 2028, providing futures commission merchants with sufficient time to implement the necessary changes to their financial reporting procedures and systems. Futures commission merchants operating in Taiwan should review the amended regulations and assess their current financial reporting practices to ensure full compliance ahead of the effective date. For further information, contact the Financial Supervisory Commission at +886(2)23924146 or [email protected]. **Reference:** Executive Yuan Gazette Online, Vol. 032 No. 074 (April 27, 2026)

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Taiwan's Financial Supervisory Commission Amends Futures Commission Merchant Financial Reporting Regulations

The Financial Supervisory Commission (FSC) of Taiwan has released amendments to its regulations on financial reporting by futures commission merchants. The regulations prescribe: Financial reporting definitions and structure mandating that a financial report includes financial statements, detailed schedules of vital accounting items, and other disclosures that assist primary users in decision-making, and requiring financial statements to encompass balance sheets, statements of comprehensive income, statements of changes in equity, and cash flow statements, typically presented on a two-period comparative basis. Materiality assessments stipulating that information is deemed material if its omission or misstatement could influence users' decisions, with such assessments relying on quantitative factors (e.g., impact amounts) and qualitative factors (e.g., unexpected variations or geographical location). Statements of comprehensive income classification requiring futures commission merchants to present all recognized income and expenses in a single statement of comprehensive income, classifying recognized income and expenses into operating, investing, financing, income taxes, or discontinued operations categories based on their nature. Disclosures and detailed schedules stipulating that financial reports must disclose the nature, timing, and uncertainty of revenue and cash flows arising from customer contracts, relevant lease information, and detailed schedules of vital accounting items, such as cash and cash equivalents, financial assets at fair value through profit or loss, and various margin accounts. Goodwill impairment testing mandating that goodwill recognized in a merger must be reported as a single line item on the balance sheet and tested for impairment at least annually. The amendments will come into force starting from the 2028 fiscal year.
3125185 pc Apr 30, 2026 rghosh South Africa Government of South Africa financial services
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South Africa's Information Regulator Invites Comments on Protection of Personal Information Act Notice

On an unspecified date, South Africa's Information Regulator released a notice under the Protection of Personal Information Act (POPIA), inviting public comments on proposed measures or guidance related to personal data protection compliance. The Information Regulator, established under POPIA, is responsible for enforcing South Africa's data protection framework and ensuring compliance with the act's requirements. This notice represents part of the regulator's ongoing work to develop, clarify, or update guidance, standards, or procedural requirements affecting organisations that process personal information in South Africa. The specific content of the proposed measures is contained within the accompanying notice document. The notice is applicable to all entities processing personal information in South Africa, including private sector organisations, government agencies, and other institutions that handle personal data. This may encompass requirements related to lawful processing, consent mechanisms, data subject rights, security measures, or breach notification procedures under POPIA. Stakeholders and interested parties are invited to submit written comments on the notice by Thursday, May 14, 2026, at 12:00. Comments should be submitted in accordance with the procedures outlined in the notice documentation. The Information Regulator will consider all submissions received within the comment period before finalising any measures or guidance. The full notice is available on the South African Government website. REFERENCES: South African Government. Protection of Personal Information Act: Notice: Information Regulator (South Africa): Comments invited. Available at: https://www.gov.za/

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South Africa's Information Regulator Issues Consultation on Protection of Personal Information Act

On April 30, 2026, South Africa's Information Regulator released a consultation under the Protection of Personal Information Act (POPIA), inviting public comments on proposed measures or guidance related to personal data protection compliance. The consultation establishes a code of conduct for firms. It is applicable to all entities processing personal information in South Africa, including private sector organisations, government agencies, and other institutions that handle personal data. This may encompass requirements related to lawful processing, consent mechanisms, data subject rights, security measures, or breach notification procedures under POPIA. The purpose of the code of conduct is to: To prescribe sector specific obligations that give practical effect to the eight conditions for lawful processing under POPIA in gated access environments. To promote appropriate practices by all gated accesses in governing the processing of personal information in terms of POPIA. To ensure proportionality between security needs and privacy rights; standardise lawful access control practices. Regulate high risk technologies (including CCTV and biometric systems); strengthen governance and accountability. Provide effective complaints and enforcement mechanisms. Stakeholders and interested parties are invited to submit written comments on the notice by Thursday, May 14, 2026, at 12:00. Comments should be submitted to email address: POPIACompliance@inforegulator.org.za .
3112444 pc Apr 30, 2026 adavies European Union Official Gazette horizon scanning
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European Commission Refers Seven Member States to Court of Justice for Failing to Transpose Critical Entities Resilience Directive

On April 29, 2026, the European Commission referred Bulgaria, France, Luxembourg, the Netherlands, Poland, Spain, and Sweden to the Court of Justice of the European Union (CJEU) for failing to transpose and notify national measures implementing the Directive on the Resilience of Critical Entities (CER Directive). The CER Directive requires Member States to conduct regular risk assessments to identify critical entities and ensure they implement appropriate measures to protect the uninterrupted provision of essential services. It applies to key sectors including energy, transport, health, water, banking, and digital infrastructure. The directive adopts an all-hazards approach, covering natural and man-made risks such as terrorist attacks, cyber threats, criminal infiltration, and sabotage. It also establishes measures to identify and mitigate cross-border risks. Member States were required to transpose the CER Directive into their national legal orders by October 17, 2024. Most Member States have notified complete transposition; however, the seven referred Member States have not. The Commission sent letters of formal notice to these Member States in November 2024 and reasoned opinions in July 2025. In the absence of any notification of national transposing measures, the Commission is now referring them to the CJEU and requesting the Court impose financial sanctions on each Member State. The CER Directive forms part of the European Union's broader effort to strengthen resilience against hybrid threats and protect critical infrastructure. The infringement procedures reference numbers are: Bulgaria (INFR(2024)0258), France (INFR(2024)0275), Luxembourg (INFR(2024)0283), the Netherlands (INFR(2024)0289), Poland (INFR(2024)0291), Spain (INFR(2024)0271), and Sweden (INFR(2024)0297).

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European Commission Refers Seven Member States to Court of Justice for Failing to Transpose Critical Entities Resilience Directive

On April 29, 2026, the European Commission announced that it had referred Bulgaria, France, Luxembourg, the Netherlands, Poland, Spain and Sweden to the Court of Justice of the European Union (CJEU) for failing to transpose and notify national measures implementing Directive (EU) 2022/2557 (Resilience of Critical Entities Directive - CERD). The CERD requires member states to conduct regular risk assessments to identify critical entities and ensure they implement appropriate measures to protect the uninterrupted provision of essential services. Member states were required to transpose the CERD into their national legal orders by October 17, 2024. Most member states have notified complete transposition; however, the seven referred member states have not. The commission sent letters of formal notice to these member states in November 2024 and reasoned opinions in July 2025. In the absence of any notification of national transposing measures, the commission is now referring them to the CJEU and requesting the court impose financial sanctions on each member state.
3115861 pc Apr 30, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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Russia's Central Bank 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 official website. The consultations cover a range of financial sector matters and are open to stakeholder feedback through designated email addresses. The draft acts under consultation include: amendments to procedures for electronic document exchange between tax authorities and banks regarding account suspension decisions; modifications to existing Central Bank directives on anti-money laundering and counter-terrorism financing (AML/CTF) requirements; revisions to credit reserve formation procedures for residential and commercial real estate lending; disclosure requirements for securities issuers; and updates to internal control rules and qualification standards for compliance officers at financial institutions. The consultations address key regulatory areas including client identification and beneficial ownership verification for AML/CTF purposes, internal control frameworks for money services organisations, and information disclosure standards for capital markets participants. One draft act seeks to repeal a Central Bank directive from 30 July 2014 (No. 3352-U). Comments on the draft regulatory acts are being accepted through May 2026, with individual deadlines ranging from 4 May to 15 May 2026. Stakeholders must submit feedback to designated email addresses corresponding to each draft act. The Bank of Russia has also published explanatory notes and a template for submitting comments as part of its regulatory impact assessment process. All draft acts are available on the Bank of Russia website, with additional materials accessible through the Federal Portal for Draft Regulatory Legal Acts (regulation.gov.ru). REFERENCES: Central Bank of the Russian Federation. Проекты нормативных актов Банка России. Available at: www.cbr.ru

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Central Bank of Russia Consults on Tax Reporting Requirements for Banks

On April 30, 2026, the Central Bank of Russia (CBR) launched a consultation on the Draft Decree on the Procedure for Banks to Send Certain Bank Documents to Tax Authorities in Electronic Form and on the Procedure for Determining the Date and Time of Receipt by a Bank of a Tax Authority's Decision to Suspend Transactions on the Accounts of a Corporate Taxpayer at the Bank and the Transfer of its Electronic Funds in Electronic Form. This decree establishes the following: The procedure for the Federal Tax Service (FTS) is to send the following documents to the bank in electronic form. Decisions of the FTS to suspend transactions on the accounts of a corporate taxpayer at a bank and transfers of its electronic funds. The procedure for the bank to send the following documents to the FTS in electronic form: Notifications of non-execution (partial execution) of a taxpayer's instruction or an instruction from the tax authority. Notification containing information on the balances of funds of the corporate taxpayer in bank accounts and on the balances of electronic funds. The procedure for determining the date and time of the bank's receipt of the FTS' decision to suspend transactions on the corporate taxpayer's bank accounts and transfers of its electronic funds in electronic form. Notifications of non-execution (partial execution) of a taxpayer's instruction or an instruction from the tax authority. Notification containing information on the balances of funds of the corporate taxpayer in bank accounts and on the balances of electronic funds. The procedure for determining the date and time of the bank's receipt of the FTS' decision to suspend transactions on the corporate taxpayer's bank accounts and transfers of its electronic funds in electronic form. Comments and feedback are welcome up until May 14, 2026 and can be sent via email to SVC_DNPS_PSBR_ORG@cbr.ru .
3117719 pc Apr 30, 2026 arahman Armenia State Commission for the Protection of Economic Competition - Newsfeed horizon scanning
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Armenia Adopts Consumer Rights Protection Amendments Following European Union Partnership Agreement

On April 30, 2026, the State Commission for the Protection of Economic Competition (SCPEC) announced that the National Assembly of Armenia adopted legislative amendments to consumer protection laws on April 16, 2026. The amendments were jointly developed by the Ministry of Economy and the SCPEC and establish new safeguards for consumer rights in Armenia. The legislative package implements commitments undertaken by Armenia under the Comprehensive and Enhanced Partnership Agreement (CEPA) between the Republic of Armenia and the European Union, the European Atomic Energy Community, and their member states. The amendments establish criteria for determining the conformity of goods offered for sale and actually purchased by consumers, methods for remedying non-conforming goods, and place the burden of proof regarding product conformity on sellers. The legislation also introduces criteria for assessing the fairness of terms in adhesion contracts between economic operators and consumers, specifies minimum information requirements for distance and off-premises contracts concluded before contract formation, and defines permissible circumstances for comparative advertising. The reforms aim to establish a more effective and comprehensive consumer protection system in Armenia. To ensure effective implementation of the legislative changes, the SCPEC plans to conduct awareness-raising activities with economic operators and other interested parties. The amendments enter into force on July 1, 2026. The legislative packages are available at the Armenian Parliament website through the following links: http://www.parliament.am/drafts.php?sel=showdraft&DraftID=16109&Reading=1 and http://www.parliament.am/drafts.php?sel=showdraft&DraftID=16110&Reading=1

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Armenia Adopts Consumer Rights Protection Amendments

On April 30, 2026, the State Commission for the Protection of Economic Competition (SCPEC) announced that the National Assembly of Armenia adopted legislative amendments to consumer protection laws on April 16, 2026. The amendments were jointly developed by the Ministry of Economy and the SCPEC and establish new safeguards for consumer rights in Armenia. The legislative package implements commitments undertaken by Armenia under the Comprehensive and Enhanced Partnership Agreement (CEPA) between the Republic of Armenia and the European Union, the European Atomic Energy Community, and their member states. The amendments establish criteria for determining the conformity of goods offered for sale and actually purchased by consumers, methods for remedying non-conforming goods, and place the burden of proof regarding product conformity on sellers. The legislation also introduces criteria for assessing the fairness of terms in adhesion contracts between economic operators and consumers, specifies minimum information requirements for distance and off-premises contracts concluded before contract formation, and defines permissible circumstances for comparative advertising. The reforms aim to establish a more effective and comprehensive consumer protection system in Armenia. To ensure effective implementation of the legislative changes, the SCPEC plans to conduct awareness-raising activities with economic operators and other interested parties. The amendments enter into force on July 1, 2026.
3115802 gc Apr 30, 2026 gkaliraman Sweden Regulator - news gamblingcompliance
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Sweden's Gambling Authority Issues Remark to Polar Limited for Unlawful Bonus Offers

On April 30, 2026, Sweden's gambling regulator issued a remark to Polar Limited for providing unlawful bonus offers to Swedish customers on two occasions. Under Swedish gambling legislation, specifically Chapter 14, Section 9 of the Gambling Act (2018:1138), bonus offers may only be provided once when a player first engages with any of a licence holder's games. Polar Limited breached this requirement by incorrectly providing bonuses to Swedish customers beyond this initial offer period. The regulator determined that the company's conduct constituted a violation of the statutory bonus restrictions and issued a formal remark as an enforcement action. This decision reflects the regulator's commitment to ensuring licence holders comply with consumer protection rules governing promotional activities in the Swedish gambling market. The remark serves as a formal notice of non-compliance and may inform future regulatory oversight of the operator's activities.

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Swedish regulator issues remark to Polar Limited for unauthorised bonus offers

On April 30, 2026, the Swedish Gambling Authority (Spelinspektionen) issued a remark to Polar Limited for providing unlawful bonus offers to Swedish customers on two occasions. Under Swedish gambling legislation, specifically Chapter 14, Section 9 of the Gambling Act (2018:1138) , bonus offers may only be provided once when a player first engages with any of a licence holder's games. Polar Limited breached this requirement by incorrectly providing bonuses to Swedish customers beyond this initial offer period. The authority determined that the company's conduct constituted a violation of the statutory bonus restrictions and issued a formal remark as an enforcement action. This decision reflects the regulator's commitment to ensuring licence holders comply with consumer protection rules governing promotional activities in the Swedish gambling market. The remark serves as a formal notice of non-compliance and may inform future regulatory oversight of the operator's activities.
3111030 pc Apr 30, 2026 adavies European Union European Banking Authority financial services
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European Banking Authority Streamlines Guidelines on Connected Clients Following New EU Legislation

On April 29, 2026, the European Banking Authority (EBA) partially deleted sections of its Guidelines on connected clients to align with new directly applicable European Union legislation. The EBA Guidelines on connected clients (EBA/GL/2017/15), originally adopted in 2017, provided guidance to credit institutions on identifying groups of connected clients, including situations involving control relationships, economic dependency, and combined control and economic dependency. The streamlining follows the entry into force of Commission Delegated Regulation (EU) 2024/1728, which introduces binding regulatory technical standards developed by the EBA. These standards establish the circumstances in which institutions must identify groups of connected clients. Since Commission Delegated Regulation (EU) 2024/1728 now applies directly across the EU, certain provisions of the EBA Guidelines are no longer necessary to ensure consistent application of Union law. The EBA determined that removing these redundant provisions maintains clarity and consistency in the framework used by credit institutions while eliminating duplication with the directly applicable regulatory technical standards. The decision was adopted pursuant to Articles 16(2a) and 29(1)(d) of Regulation (EU) No 1093/2010 (the EBA Regulation), Article 4(4) of Regulation (EU) No 575/2013 (the Capital Requirements Regulation), and Articles 1, 2 and 3 of Commission Delegated Regulation (EU) 2024/1728. The EBA has published the Decision together with a consolidated version of the Guidelines on connected clients, reflecting the partial deletions, on its website. The consolidated guidelines are available in all EU official languages. REFERENCES: https://www.eba.europa.eu/news-and-events/news/eba-streamlines-its-guidelines-connected-clients-align-new-eu-legislation

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European Banking Authority Streamlines Guidelines on Connected Clients Following New EU Legislation

On April 29, 2026, the European Banking Authority (EBA) published Decision EBA/DC/644 concerning the partial deletion of EBA/GL/2017/15 guidelines on connected clients. The EBA guidelines on connected clients, originally adopted in 2017, provided guidance to credit institutions on identifying groups of connected clients, including situations involving control relationships, economic dependency, and combined control and economic dependency. The decision deletes certain sections of the guidelines due to the entry into force of Delegated Regulation (EU) 2024/1728 , which introduces binding regulatory technical standards developed by the EBA. These standards establish the circumstances in which institutions must identify groups of connected clients. The following provisions of the guidelines are deleted: Paragraphs 11 to 15 which correspond to Section 4. Paragraphs 21 to 30 which correspond to Section 6. Paragraphs 31 to 33 which correspond to Section 7. The EBA’s decision enters into force immediately.
3139519 pc Apr 30, 2026 rghosh United Arab Emirates Government website - Latest legislations financial services
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United Arab Emirates Issues Executive Regulations for Federal Competition Law

On April 20, 2026, the United Arab Emirates (UAE) government issued Cabinet Decision No. 59 of 2026 establishing the executive regulations for Federal Decree-Law No. 36 of 2023 on Competition Regulation. The executive regulations provide the implementing framework for the UAE's competition law, which governs competitive practices and market conduct across the Emirates. The regulations detail the operational procedures, compliance requirements, and enforcement mechanisms necessary to administer the competition framework established under the federal decree-law. This includes provisions addressing anti-competitive conduct, market practices, and related administrative processes for entities operating within UAE jurisdiction. The executive regulations came into effect on July 30, 2026, following their publication in the Official Gazette on April 30, 2026 (Issue No. 822). The regulations apply to all businesses and entities subject to UAE competition law, including financial services providers, and establish the standards by which competitive conduct will be assessed and enforced. REFERENCES: Government of the United Arab Emirates. Cabinet Decision No. 59 of 2026 on the Executive Regulations for Federal Decree-Law No. 36 of 2023 on Competition Regulation. Official Gazette, Issue No. 822 (April 30, 2026).

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United Arab Emirates Issues Executive Regulations for Federal Competition Law

On April 30, 2026, the United Arab Emirates (UAE) government announced the issuance of Cabinet Decision No. 59 of 2026 establishing the executive regulations for Federal Decree-Law No. 36 of 2023 on Competition Regulation. The executive regulations provide the implementing framework for the UAE's competition law, which governs competitive practices and market conduct across the Emirates. The regulations detail the operational procedures, compliance requirements, and enforcement mechanisms necessary to administer the competition framework established under the federal decree-law. This includes provisions addressing anti-competitive conduct, market practices, and related administrative processes for entities operating within UAE jurisdiction. The regulations apply to all businesses and entities subject to UAE competition law, including financial services providers, and establish the standards by which competitive conduct will be assessed and enforced. The executive regulations will come into effect on July 30, 2026, following their publication in the Official Gazette on April 30, 2026 (Issue No. 822).
3111208 pc Apr 30, 2026 adavies European Union European Securities and Markets Authority horizon scanning
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European Union's Securities and Markets Authority Launches Consultation on Environmental, Social and Governance Rating Endorsement Guidelines

On 29 April 2026, the European Securities and Markets Authority (ESMA) launched a consultation on guidelines governing the endorsement of environmental, social and governance (ESG) ratings under Article 11 of the ESG Rating Regulation. The consultation period runs until 29 May 2026. The ESG Rating Regulation entered into force on 3 January 2025 and will apply from 2 July 2026. From this date, entities will have one month to notify ESMA of their intention to apply for authorisation, registration or recognition under the Regulation. Entities applying for authorisation may also apply to endorse ESG ratings from legal entities established outside the European Union. The guidelines aim to complement the legal requirements set out in Article 11(1) and 11(2) of the ESG Rating Regulation by providing guidance on documentation that applicants must submit as part of their endorsement applications, and on processes ESMA expects to be demonstrated following authorisation to endorse. The consultation paper is divided into two parts: information requirements and ongoing requirements. Respondents are invited to provide views on the appropriateness of the proposed guidance for each section. Stakeholders, including credit rating agencies, asset managers, investment services providers, issuers and other market participants, are invited to submit responses by 29 May 2026. Following the four-week consultation period, ESMA will finalise the guidelines and publish a Final Report on its website. The finalised guidelines will then be used by applicants to inform their applications for authorisation to endorse ESG ratings. Responses can be submitted via ESMA's consultation portal.

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European Securities and Markets Authority Launches Consultation on Environmental, Social and Governance Rating Endorsement Guidelines

On April 29, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on guidelines governing the endorsement of environmental, social and governance (ESG) ratings under Article 11 of Regulation (EU) 2024/3005 (ESG Rating Regulation – ESGRR). The ESG Rating Regulation entered into force on January 3, 2025 and will apply from July 2, 2026. From this date, entities will have one month to notify ESMA of their intention to apply for authorisation, registration or recognition under the regulation. Entities applying for authorisation may also apply to endorse ESG ratings from legal entities established outside the European Union. The guidelines aim to complement the legal requirements set out in Article 11(1) and 11(2) of the ESGRR by providing guidance on documentation that applicants must submit as part of their endorsement applications, and on processes ESMA expects to be demonstrated following authorisation to endorse. ESMA is seeking feedback on its consultation by May 29, 2026, which can be submitted via this link .
3114141 pc Apr 30, 2026 adavies European Union European Securities and Markets Authority horizon scanning
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European Securities and Markets Authority Launches Call for Evidence on European Equity Market Structure

On 30 April 2026, the European Securities and Markets Authority (ESMA) published a call for evidence (CfE) on the structure of European equity markets. The CfE presents a data-driven analysis of trading evolution in European equity markets between 2022 and 2025, based on Markets in Financial Instruments Regulation (MiFIR) transaction reporting data, and invites stakeholder feedback on observed trends and their potential regulatory implications. ESMA's analysis indicates that European equity markets continue to function well overall. The share of addressable liquidity has remained stable at approximately 85 percent of total trading volume, while on-book trading has accounted for around 75–80 percent of trading volume over the period. However, ESMA observes a decline in lit continuous trading between 2022 and 2025, which has been offset by increased activity in other trading mechanisms, including closing auctions, frequent batch auctions, and systematic internaliser (SI) trading. The paper also analyses liquidity allocation across different trading mechanisms on a country-by-country basis and seeks input on the concept of addressable liquidity and its treatment under Regulatory Technical Standards (RTS) 1, including possible adjustments to the post-trade transparency flagging framework. Additionally, ESMA has repealed a Q&A clarifying that periodic auctions are subject to the tick-size regime. ESMA invites stakeholders' views on the functioning of European stock markets by 30 June 2026. ESMA will issue a feedback statement in the second half of 2026 on this call for evidence and will continue monitoring market developments, considering recent MiFIR changes, including the move to a single volume cap and enhanced SI transparency obligations, as well as different types of trading mechanisms such as closing auctions. Responses can be submitted via the reply form available on ESMA's website.

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European Securities and Markets Authority Launches Call for Evidence on European Equity Market Structure

On April 30, 2026, the European Securities and Markets Authority (ESMA) published a call for evidence (CfE) on the structure of European equity markets. The CfE invites stakeholder feedback on observed trends and their potential regulatory implications. ESMA's analysis indicates that European equity markets continue to function well overall. The share of addressable liquidity has remained stable at approximately 85 percent of total trading volume, while on-book trading has accounted for around 75-80 percent of trading volume over the period. ESMA is seeking responses on its CfE by June 30, 2026, which may be provided via this link .
3111499 pc Apr 30, 2026 adavies European Union European Banking Authority financial services
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European Banking Authority Publishes Final Guidelines on Supervisory Independence

On 29 April 2026, the European Banking Authority (EBA) published its final Guidelines on Supervisory Independence under the Capital Requirements Directive (CRD). The Guidelines clarify the arrangements that competent authorities must establish to prevent and manage conflicts of interest involving staff and governance body members. The Guidelines address key areas of supervisory independence through harmonised standards. They establish minimum requirements for declarations of interest to be submitted on a pre-employment, annual and ad-hoc basis. The Guidelines specify procedural requirements for the sale or disposal of financial instruments that may create conflicts of interest and further define the prohibition on trading in financial instruments under the CRD. Additionally, they provide procedures and assessment criteria for competent authorities to determine appropriate cooling-off periods where national laws permit periods beyond the minimum set out in the CRD, ensuring a proportionate and consistent approach across the European Union. The Guidelines also clarify arrangements related to the appointment of members of governance bodies and the duration of their tenure to safeguard trust in the governance of competent authorities and ensure transparency of procedures. These measures aim to strengthen the framework for managing risks to supervisory independence, which pose challenges to the soundness of supervision and good governance. The Guidelines have been developed pursuant to Article 4a(9) of Directive 2013/36/EU and build on existing EU and international standards and principles related to supervisory independence and conflict of interest management, including the Joint European Supervisory Independence criteria published on 25 October 2023. The final report is available on the EBA website and is currently awaiting translation into the EU official languages.

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European Banking Authority Publishes Final Guidelines on Supervisory Independence

On April 29, 2026, the European Banking Authority (EBA) published its final Guidelines on Supervisory Independence under Directive 2013/36/EU (Capital Requirements Directive – CRD). The guidelines clarify the arrangements that competent authorities must establish to prevent and manage conflicts of interest involving staff and governance body members. The guidelines address key areas of supervisory independence through harmonised standards. They establish minimum requirements for declarations of interest to be submitted on a pre-employment, annual and ad-hoc basis. The guidelines will apply two months after the translated versions are published on the EBA’s website.
3113237 pc Apr 30, 2026 tojuri International Financial Action Task Force horizon scanning
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Financial Action Task Force Publishes Austria's Anti-Money Laundering Mutual Evaluation Report

On 30 April 2026, the Financial Action Task Force (FATF) published its mutual evaluation report on Austria's anti-money laundering, counter-terrorist financing and proliferation financing (AML/CFT/CPF) measures. Led by the International Monetary Fund (IMF), the assessment evaluated Austria's compliance with FATF Recommendations based on an on-site visit conducted between June and July 2025. The evaluation found that Austria has strengthened its AML/CFT legal and regulatory framework, with notable improvements in beneficial ownership transparency, financial sector supervision and terrorist financing investigations. However, the report identified significant gaps requiring remedial action. Key findings indicate that Austria must increase operational capacity and resources within its financial intelligence unit (FIU), law enforcement and prosecution to effectively investigate sophisticated money laundering cases and confiscate criminal proceeds. The assessment notes that Austria faces money laundering threats primarily from fraud, tax offences, drug-related crimes, organised crime, corruption proceeds and smuggling. The report highlights deficiencies in Designated Non-Financial Businesses and Professions (DNFBP) supervision, fragmentation in oversight, and insufficient asset recovery effectiveness. Additionally, restrictive interpretations of money laundering offences continue to limit investigations and prosecutions, with overall case numbers remaining low. Austria has been placed in enhanced follow-up status and must complete a roadmap of Key Recommended Actions within three years. These actions include deepening understanding of domestic and transnational money laundering threats, ensuring adequate FIU resourcing, and strengthening prosecution capabilities across the full range of money laundering offences. Austria will report progress to the FATF throughout this period. **Reference:** Financial Action Task Force. (2026). Mutual Evaluation Report of Austria – 2026. Retrieved from https://www.fatf-gafi.org/

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Financial Action Task Force Publishes Austria's Anti-Money Laundering and Counter-Terrorist Financing Mutual Evaluation Report

On April 30, 2026, the Financial Action Task Force (FATF) published its mutual evaluation report assessing Austria's anti-money laundering, counter-terrorist financing and proliferation financing (AML/CTF/CPF) measures. The assessment evaluated Austria's compliance with FATF Recommendations based on an on-site visit conducted between June and July 2025. The evaluation found that Austria has strengthened its AML/CTF legal and regulatory framework, with notable improvements in beneficial ownership transparency, financial sector supervision and terrorist financing investigations. However, the report identified significant gaps requiring remedial action. Key findings indicate that Austria must increase operational capacity and resources within its financial intelligence unit (FIU), law enforcement and prosecution to effectively investigate sophisticated money laundering cases and confiscate criminal proceeds. The assessment notes that Austria faces money laundering threats primarily from fraud, tax offences, drug-related crimes, organised crime, corruption proceeds and smuggling. The report highlights deficiencies in designated non-financial businesses and professions (DNFBP) supervision, fragmentation in oversight, and insufficient asset recovery effectiveness. Austria has been placed in enhanced follow-up status and must complete a roadmap of key recommended actions within three years. These actions include deepening understanding of domestic and transnational money laundering threats, ensuring adequate FIU resourcing and strengthening prosecution capabilities across the full range of money laundering offences.
3111690 pc Apr 29, 2026 pdonofrio New York New York AG - Letitia James (D) horizon scanning
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New York Attorney General Secures Over $5 Million Settlement from Cryptocurrency Platform Uphold

On April 29, 2026, New York Attorney General Letitia James secured more than $5 million from cryptocurrency platform Uphold HQ, Inc. (Uphold) for misleading investors and promoting a fraudulent investment scheme orchestrated by Cred, LLC (Cred) and its Chief Executive Officer, Daniel Schatt. The Office of the Attorney General (OAG) investigation found that Uphold misleadingly promoted and offered Cred's investment product, CredEarn, to its customers in violation of New York law. From January 2019 through October 2020, Uphold advertised CredEarn as a reliable savings product, when in reality, Cred was making risky micro-loans to video game players in China with low monthly incomes, no credit histories, and no access to traditional credit. Uphold also falsely claimed that CredEarn was covered by "comprehensive insurance," despite no such investor protection existing in the cryptocurrency industry. The OAG also determined that Uphold illegally promoted CredEarn without registering as a broker or commodity broker-dealer. When Cred declared bankruptcy in November 2020 due to significant losses from its risky lending practices and mismanagement, thousands of Uphold customers worldwide lost millions of dollars. As part of the settlement, Uphold will pay $5 million to harmed investors—more than five times the fees it collected—and must register as a broker with the OAG. All payments Uphold receives from Cred's bankruptcy proceedings, totalling $545,189, will also be distributed to affected customers. Additionally, Uphold must maintain and improve its due diligence policies before partnering with or recommending third-party investment products. Investors will receive notification from Uphold regarding fund distribution to their accounts. REFERENCES: Office of the New York Attorney General. "Attorney General James Secures Over $5 Million from Crypto Platform for Promoting Fraudulent Investment Scheme." April 29, 2026. https://ag.ny.gov/

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New York Attorney General Finalizes $5m Settlement with Uphold for Promoting Fraudulent Investment Scheme

On April 29, 2026, New York Attorney General Letitia James announced a US$5m settlement agreement with cryptocurrency platform Uphold for misleading investors and promoting a fraudulent investment scheme orchestrated by its commercial partner, Cred. The Office of the Attorney General (OAG) investigation found that Uphold misleadingly promoted and offered Cred's investment product, CredEarn, to its customers in violation of New York law. Specifically, the OAG determined that, from January 2019 through October 2020, Uphold advertised CredEarn as a reliable savings product, when in reality, Cred was making risky micro-loans to borrowers in China with low monthly incomes, no credit histories and no access to traditional credit. The OAG also found that Uphold  falsely claimed that CredEarn was covered by "comprehensive insurance", despite no such investor protection existing in the cryptocurrency industry. Additionally, the OAG found that Uphold illegally promoted CredEarn without registering as a broker or commodity broker-dealer. According to the OAG , when Cred declared bankruptcy in November 2020 due to significant losses from its risky lending practices and mismanagement, thousands of Uphold customers worldwide lost millions of dollars. As part of the settlement, Uphold is ordered to pay more than US$5m to harmed investors and must register as a broker with the OAG. All payments Uphold receives from Cred's bankruptcy proceedings must also be distributed to affected customers. Additionally, Uphold is ordered to maintain and improve its due diligence policies before partnering with or recommending third-party investment products.
3111292 pc Apr 29, 2026 pdonofrio US Track 2 Ministry of Finance horizon scanning
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United States Treasury Department Issues Russia-Related General License for Lukoil International Sale Negotiations

On April 29, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Russia-related General License 131E, authorizing certain transactions for the negotiation of and entry into contingent contracts for the sale of Lukoil International GmbH and related maintenance activities. The general license permits specified transactions related to the potential sale of Lukoil International GmbH, a Russia-related entity, while maintaining compliance with U.S. sanctions programmes. The license authorizes parties to engage in negotiations and enter into contingent contracts necessary for facilitating the sale transaction, as well as activities related to the maintenance of the entity during this period. This authorization operates within the framework of OFAC's existing Russia sanctions regime and allows for limited commercial activity where otherwise prohibited. Concurrently, OFAC amended two Russia-related Frequently Asked Questions—FAQs 1224 and 1225—to provide clarification and guidance on the application and scope of the general license. These amendments are intended to assist regulated entities and stakeholders in understanding their obligations and permissible activities under the new authorization. Entities engaged in transactions involving Lukoil International GmbH or seeking to undertake activities authorized under General License 131E should review the full license terms and the updated FAQs for specific requirements and limitations. Additional information regarding OFAC's Russia sanctions programmes, including the general license, updated guidance, and the Specially Designated Nationals List, is available on OFAC's official website.

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US Office of Foreign Assets Control Issues Russia-Related General License and FAQs

On April 29, 2026, the US Office of Foreign Assets Control (OFAC) issued Russia-related General License 131E , which authorizes certain transactions for the negotiation of and entry into contingent contracts for the sale of Lukoil International GmbH and related maintenance activities. Additionally, OFAC issued two amended Russia-related frequently asked questions (FAQ) sheets pertaining to authorized transactions involving Lukoil International GmbH.
3109421 gc Apr 29, 2026 prandeo Denmark Danish Gambling Authority - Rulings and Reactions gamblingcompliance
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Danish Gambling Authority Issues Reprimands and Police Report Against Insipia Limited for Anti-Money Laundering Violations

On April 27, 2026, the Danish Gambling Authority issued two reprimands to Insipia Limited (trading as Betano) and filed a police report for violations of the Anti-Money Laundering Act during the period from May 2025 to January 13, 2026. The first reprimand concerns failure to conduct enhanced customer due diligence procedures in a timely manner. A newly established customer deposited DKK 199,500 into their gambling account over 16 days without Insipia Limited obtaining documentation of the customer's income and assets. The Authority determined that enhanced due diligence should have been initiated immediately, as the deposit amount significantly deviated from typical customer behaviour and indicated increased risk of money laundering. Insipia Limited did not attempt to obtain such information until six months after the deposits were made. The second reprimand addresses failure to investigate unusually large transactions. Insipia Limited should have investigated the background and purpose of the customer's DKK 199,500 deposits within the initial 16-day period to confirm or disprove suspicion of money laundering. Instead, the investigation occurred six months after the deposits. The Authority also filed a police report alleging gross negligence in violating enhanced customer due diligence requirements under section 17(1) of the Anti-Money Laundering Act and the duty to investigate unusually large amounts under section 25(1)(1)(b). The reprimands carry no obligation to act as the violations no longer exist. The Authority has issued guidance for gambling operators, emphasizing the importance of risk-based customer assessments, designing anti-money laundering systems to address criminal financing risks, and establishing clear thresholds for identifying unusually large transactions during ongoing customer monitoring. REFERENCE: Danish Gambling Authority - Spillemyndigheden (April 29, 2026). Two reprimands and a police report against Insipia Limited (Betano) for violation of the Anti-Money Laundering Act.

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Danish Gambling Authority issues reprimands against Insipia Limited for AML violations

On April 29, 2026, the Danish Gambling Authority issued two reprimands to Insipia Limited (trading as Betano) having violated the requirements of the Anti-Money Laundering Act (AML Act) regarding enhanced customer due diligence procedures. The first reprimand concerns failure to conduct enhanced customer due diligence procedures in a timely manner. A newly established customer deposited DKK199,500 into their gambling account over 16 days without Insipia Limited obtaining documentation of the customer's income and assets. The Authority determined that enhanced due diligence should have been initiated immediately, as the deposit amount significantly deviated from typical customer behaviour and indicated increased risk of money laundering. Insipia Limited did not attempt to obtain such information until six months after the deposits were made. The second reprimand addresses failure to investigate unusually large transactions. Insipia Limited should have investigated the background and purpose of the customer's DKK199,500 deposits within the initial 16-day period to confirm or disprove suspicion of money laundering. Instead, the investigation occurred six months after the deposits. The Authority also filed a police report alleging gross negligence in violating enhanced customer due diligence requirements under section 17(1) of the AML Act and the duty to investigate unusually large amounts under section 25(1)(1)(b). The reprimands carry no obligation to act as the violations no longer exist. The Authority has issued guidance for gambling operators, emphasising the importance of risk-based customer assessments, designing anti-money laundering systems to address criminal financing risks, and establishing clear thresholds for identifying unusually large transactions during ongoing customer monitoring.
3111206 pc Apr 29, 2026 csoo United Kingdom News, blogs and speeches - ICO horizon scanning
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United Kingdom's Information Commissioner's Office Publishes Final Storage and Access Technologies Guidance

On 29 April 2026, the Information Commissioner's Office (ICO) published finalised guidance on Storage and Access Technologies (SATs), covering how the Privacy and Electronic Communications Regulations (PECR) and the UK General Data Protection Regulation (UK GDPR) apply to cookies, tracking pixels, device fingerprinting and similar technologies. The guidance incorporates updates following two consultations and amendments introduced by the Data (Use and Access) Act. It includes new examples and clarification points to assist organisations in complying with applicable law. The ICO notes the guidance reflects the law as it currently stands and sits separately from its ongoing work to review regulation 6 of PECR for online advertising purposes, with further updates expected in the coming weeks. William Malcolm, Executive Director Regulatory Risk and Innovation at the ICO, stated the guidance provides online service providers with regulatory certainty to enable responsible innovation and practical compliance assistance. The ICO reports that 99 percent of the United Kingdom's top 1,000 websites now meet compliance standards for cookie banners following focused ICO engagement with industry. The ICO intends to continue its compliance work and interventions to develop a fairer, more transparent online tracking ecosystem that provides individuals with meaningful control over their data usage. The guidance is available on the ICO website. REFERENCES: Information Commissioner's Office, Final storage and access technologies guidance published, 29 April 2026, https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2026/04/final-storage-and-access-technologies-guidance-published/

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UK's Information Commissioner's Office Publishes Guidance on Storage and Access Technologies

On April 29, 2026, the UK's Information Commissioner's Office (ICO) published its finalised guidance on storage and access technologies (SATs). The guidance covers how the Privacy and Electronic Communications Regulations (PECR) , and where relevant the UK General Data Protection Regulation , apply to cookies, tracking pixels, device fingerprinting and similar technologies. The updated guidance includes: Substantial amendments following two consultations on the draft guidance: the significant update to the previous detailed cookies guidance in December 2024, and the consultation on the changes to PECR following the Data (Use and Access) Act in July 2025. The ICO have provided summarised responses to both consultations. The addition of two new sub-chapters: “what does a ‘simple means of objecting’ mean?” and “can we use the same storage and access technology for multiple purposes?"
3111241 gc Apr 29, 2026 prandeo Ireland Gambling Regulatory Authority of Ireland - Latest News gamblingcompliance
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Ireland's Gambling Regulatory Authority Signs Memorandum of Understanding with Alderney Gambling Control Commission

On April 29, 2026, the Gambling Regulatory Authority of Ireland (GRAI) signed a Memorandum of Understanding (MOU) with the Alderney Gambling Control Commission. Anne Marie Caulfield, GRAI chief executive, and Andrew Gellatly, Alderney Gambling Control Commission executive director, signed the agreement at GRAI offices. The MOU establishes a cooperative framework between the two regulatory bodies, aiming to strengthen their working relationship across all aspects of gambling regulation. The agreement reflects shared regulatory principles between Ireland and the Channel Islands, emphasising proportionate, innovative, and professional regulation of gambling activities. The collaboration is designed to ensure a consistent approach to gambling regulation across counterpart jurisdictions. Caulfield stated that the MOU signifies the GRAI's commitment to working with the Alderney Gambling Control Commission to protect the public. She noted that as the GRAI begins issuing licences in summer 2026, it will look to counterpart regulators like the Alderney Gambling Control Commission for guidance and support. The GRAI's public health mandate includes protecting vulnerable individuals, particularly young people. The MOU comes as the GRAI's licensing function is underway. The authority has indicated that such agreements with other regulatory authorities are important to ensure close collaboration and consistent regulatory approaches across jurisdictions.

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Ireland's Gambling Regulatory Authority signs Memorandum of Understanding with Alderney Gambling Control Commission

On April 29, 2026, the Gambling Regulatory Authority of Ireland (GRAI) signed a Memorandum of Understanding (MOU) with the Alderney Gambling Control Commission. Anne Marie Caulfield, GRAI chief executive, and Andrew Gellatly, Alderney Gambling Control Commission executive director, signed the agreement at GRAI offices. The MOU establishes a cooperative framework between the two regulatory bodies, aiming to strengthen their working relationship across all aspects of gambling regulation. The agreement reflects shared regulatory principles between Ireland and the Channel Islands, emphasising proportionate, innovative, and professional regulation of gambling activities. The collaboration is designed to ensure a consistent approach to gambling regulation across counterpart jurisdictions. Caulfield stated that the MOU signifies the GRAI's commitment to working with the Alderney Gambling Control Commission to protect the public. She noted that as the GRAI begins issuing licences in summer 2026, it will look to counterpart regulators like the Alderney Gambling Control Commission for guidance and support. The GRAI's public health mandate includes protecting vulnerable individuals, particularly young people. The MOU comes as the GRAI's licensing function is underway. The authority has indicated that such agreements with other regulatory authorities are important to ensure close collaboration and consistent regulatory approaches across jurisdictions.
3110023 pc Apr 29, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues New Commercial Bank Asset Classification and Provisioning Directions for 2026

On April 27, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026, which will come into force on April 1, 2027. These directions apply to commercial banks in India, excluding Small Finance Banks, Payment Banks, and Local Area Banks. The directions introduce a significant shift in prudential norms by implementing an Expected Credit Loss (ECL) framework to replace the existing Income Recognition, Asset Classification and Provisioning (IRACP) norms. Key changes include: adoption of a three-stage approach for asset classification based on significant increases in credit risk (SICR); introduction of forward-looking ECL-based provisioning; and implementation of the Effective Interest Rate (EIR) method for income recognition on loans originated on or after April 1, 2027. The framework establishes product-wise and stage-wise prudential floors for various loan categories, including secured retail loans, corporate loans, agricultural credit, and real estate exposures. Banks must classify financial instruments into Stage 1 (12-month ECL), Stage 2 (lifetime ECL with SICR), or Stage 3 (credit-impaired assets with lifetime ECL). The directions retain existing non-performing asset (NPA) classification criteria while introducing the ECL staging framework alongside them. Transitional arrangements allow banks to add back a portion of the ECL transition impact to Common Equity Tier 1 capital over the period ending March 31, 2031. Banks must transition all outstanding loans to the EIR regime by March 31, 2030. First reporting under the ECL framework will occur on June 30, 2027, with comparative figures required from March 31, 2028 onwards. Banks must continue parallel reporting under existing regulations until December 31, 2027. REFERENCES: Reserve Bank of India. (2026). Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026. RBI/DOR/2026-27/398. Retrieved from https://www.rbi.org.in/

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Reserve Bank of India Issues New Asset Classification and Provisioning Directions for Commercial Banks

The Reserve Bank of India (RBI) has released a new set of directions on asset classification and provisioning for commercial banks. The directions prescribe: Implementation of the expected credit loss (ECL) framework mandating banks to adopt a forward-looking provisioning approach by classifying financial instruments into a three-stage approach, utilizing stage 1 for assets with no significant increase in credit risk (SICR) requiring a 12-month ECL, stage 2 for assets with SICR requiring a lifetime ECL, and stage 3 for credit-impaired assets also requiring a lifetime ECL. Asset classification and income recognition retaining the 90-day overdue standard for non-performing asset (NPA) classification while adopting the effective interest rate (EIR) method for measuring financial assets at amortized cost and recognizing interest income. Fair valuation and transition arrangements requiring banks to fair value their entire loan portfolio on the transition date of April 1, 2027, adjusting the difference against retained earnings, and permitting a phased transitional adjustment to common equity tier 1 (CET1) capital over a period ending March 31, 2031. Prudential floors and specific provisioning establishing stage-wise and product-wise prudential floors that act as regulatory backstops for ECL computations, and requiring additional provisions for specific cases like fraud, foreign exchange fluctuations, and willful defaulters. Model risk management and governance instituting a three-tier model risk management framework encompassing front-line operations, risk management and compliance, and internal audit, while outlining broad principles for model selection, documentation, validation, and the incorporation of macroeconomic variables. The directions will come into force from April 1, 2027.
3114937 gc Apr 29, 2026 gkaliraman Sweden Regulator - news gamblingcompliance
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Sweden's Gambling Authority Issues Compliance Notice to Norrköping Bingo Association for Inadequate Information Provision

On April 29, 2026, Spelinspektionen (Sweden's gambling regulator) issued a compliance notice to Norrköpings bingoallians (Norrköping Bingo Association) for deficiencies in information provision at its bingo hall. Spelinspektionen conducted an inspection to assess how licensed operators comply with requirements regarding information that must be available in bingo halls. The regulator identified that bingo halls must make certain information readily accessible to players, including the licensee's contact details and responsible gambling information. Following its examination, Spelinspektionen determined that Norrköpings bingoallians failed to meet these information provision requirements and issued a formal notice of non-compliance. The notice represents Spelinspektionen's enforcement action against the operator for breaching information accessibility obligations. Norrköpings bingoallians is expected to remedy the identified deficiencies to ensure compliance with Swedish gambling regulations governing bingo hall operations. REFERENCES: Spelinspektionen (April 29, 2026). Norrköpings bingoallians får anmärkning för bristande information i bingohall. Available at: [Source URL]

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Swedish regulator issues a remark to Norrköping Bingo Association for inadequate information provision

On April 29, 2026, the Swedish Gambling Authority (Spelinspektionen) issued a remark to Norrköpings bingoallians (Norrköping Bingo Association) for deficiencies in information provision at its bingo hall. The authority had conducted an inspection to assess how licensed operators comply with requirements regarding information that must be available in bingo halls. The regulator identified that bingo halls must make certain information readily accessible to players, including the licensee's contact details and responsible gambling information. Following its examination, the authority determined that the entity had failed to meet the information provision requirements and issued a formal notice of non-compliance. The notice represents the authority's enforcement action against the operator for breaching information accessibility obligations. Norrköpings bingoallians is expected to remedy the identified deficiencies to ensure compliance with Swedish gambling regulations governing bingo hall operations.
3110703 pc Apr 29, 2026 kgurnani Australia The Treasury horizon scanning
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Australian Government Responds to Parliamentary Committee Report on ASIC Licence Transfers

On 24 March 2026, the Australian Treasury tabled its formal government response to the Parliamentary Joint Committee on Corporations and Financial Services' report on ASIC Licence Transfers. The response addresses four recommendations made by the Committee in its final report, which was delivered on 10 July 2023. The Parliamentary Joint Committee on Corporations and Financial Services conducted an inquiry into the Australian Securities and Investments Commission (ASIC) licence transfer processes. The Committee's final report outlined recommendations intended to improve the efficiency and effectiveness of ASIC's licence transfer procedures. The government response provides the Australian Government's position on each of the Committee's recommendations, detailing how it intends to address the issues raised. The formal response was made publicly available on 9 April 2026 through the Treasury website, with downloadable copies of the government response document provided for public access. This response represents the government's commitment to addressing the Committee's findings and implementing any necessary reforms to ASIC's licence transfer framework. Stakeholders in the financial services sector, including financial institutions and ASIC, should review the response to understand the government's intended course of action regarding the Committee's recommendations. REFERENCES: Australian Treasury. "Australian Government response to the Parliamentary Joint Committee on Corporations and Financial Services." Accessed April 9, 2026. https://treasury.gov.au

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Australian Government Responds to Parliamentary Committee Report on ASIC Licence Transfers

On April 9 2026, the Australian government published a response to the Parliamentary Joint Committee on Corporations and Financial Services' inquiry into Australian Securities and Investments Commission licence transfer, specifically how entities acquire ASIC licences through transfers or changes in control rather than applying for a new licence directly. The report focuses on concerns that some firms may be 'buying' regulated status by acquiring an existing licence holder, rather than undergoing the full licensing assessment process themselves. This is particularly relevant for high-risk financial services, credit, and market infrastructure licences. The key themes of the response include: Greater transparency on licence transfers The Committee recommended that ASIC publish annual data on how many transfers or changes in control occur across major licence types, including: Australian Financial Services Licences (AFSLs) Australian Credit Licences Auditor registrations Market licences Benchmark operator licences Clearing and settlement licences The Government did not formally commit to this, but said it expects ASIC to act transparently and supports ASIC considering whether more public reporting is appropriate and how best to publish it. Audit of firms using licence transfers after failed applications The Committee asked ASIC to investigate and publish how often firms acquired a licence through transfer after previously having an application for the same licence type refused, withdrawn, rejected, cancelled, or suspended. The government again only “noted” the recommendation. It said ASIC may consider such an audit, but warned that doing so would likely divert resources away from other regulatory priorities. Closer scrutiny of high-risk licence transfers The Committee recommended ASIC examine all high-risk licence transfers or changes in control, particularly for: Market licences Benchmark operator licences Clearing and settlement licences Large or complex AFSL and credit licence transfers The Government’s response was that ASIC already applies a risk-based supervisory model and has sufficient regulatory tools to focus on areas of greatest harm. It supports ASIC continuing this targeted approach rather than creating a blanket review obligation. Review of why firms prefer buying licences over applying The Committee also recommended a review into the economic incentives behind licence acquisition through transfers rather than fresh applications. Possible reasons identified include: Avoiding licensing delays Preserving business goodwill Acquiring an existing client base Established trading history Maintaining going concern status Expanding market share or diversifying operations The Government declined to launch a formal review for now, saying this would be resource-intensive and Treasury and the Financial Regulator Assessment Authority currently have higher priorities. However, it said it would keep the issue in mind if review capacity becomes available.
3111613 pc Apr 29, 2026 ggallwey Colombia Super Financiera financial services
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Colombia's Financial Superintendent and Market Self-Regulator Sign Cooperation Memorandum

On April 29, 2026, the Superintendencia Financiera de Colombia (SFC) and the Autorregulador del Mercado de Valores de Colombia (AMV) signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation and information exchange mechanisms between the two entities. The agreement operates within the legal and regulatory competencies of each authority and aims to optimise institutional coordination in supervision, investigation, and disciplinary matters while enhancing investor protection and promoting transparency and integrity in Colombia's capital markets. The MoU is grounded in Law 964 of 2005 and Decree 2555 of 2010, which encourage collaboration between supervisory authorities and self-regulatory organisations to avoid duplication and maximise effectiveness. Key provisions include: establishing conditions for information exchange under strict confidentiality and data protection standards; creating a Coordination and Monitoring Committee responsible for defining protocols and information delivery mechanisms; adopting internal information management protocols ensuring secure and timely exchange; and maintaining full respect for each entity's respective competencies without delegating functions or modifying applicable legal frameworks. The agreement will remain in effect for three years and is renewable by mutual consent. It includes mechanisms for resolving differences through coordination and cooperation channels. SFC Superintendent César Ferrari highlighted that the MoU will advance a more coordinated supervisory scheme supported by relevant and timely information exchange, enabling more effective responses to potential violations and benefiting the financial system and investors. AMV President Hernán Alzate noted that the memorandum strengthens the self-regulatory framework and ensures effective coordination to promote a more solid, reliable capital market aligned with international best practices.

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Financial Superintendency of Colombia Signs Cooperation Memorandum with the Self-Regulatory Body of the Colombian Securities Market

On April 29, 2026, the Financial Superintendency of Colombia (SFC) and the Self-Regulatory Body of the Colombian Securities Market (AMV) signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation and information exchange mechanisms between the two entities. The agreement operates within the legal and regulatory competencies of each authority and aims to optimize institutional coordination in supervision, investigation, and disciplinary matters while enhancing investor protection and promoting transparency and integrity in Colombia's capital markets. The MoU is grounded in Law 964 of 2005 and Decree 2555 of 2010 , which encourage collaboration between supervisory authorities and self-regulatory organizations to avoid duplication and maximize effectiveness. Key provisions include: establishing conditions for information exchange under strict confidentiality and data protection standards; creating a Coordination and Monitoring Committee responsible for defining protocols and information delivery mechanisms; adopting internal information management protocols ensuring secure and timely exchange; and maintaining full respect for each entity's respective competencies without delegating functions or modifying applicable legal frameworks. SFC Superintendent César Ferrari highlighted that the MoU will advance a more coordinated supervisory scheme supported by relevant and timely information exchange, enabling more effective responses to potential violations and benefiting the financial system and investors. AMV President Hernán Alzate noted that the memorandum strengthens the self-regulatory framework and ensures effective coordination to promote a more solid, reliable capital market aligned with international best practices. The agreement will remain in effect for three years and is renewable by mutual consent. It includes mechanisms for resolving differences through coordination and cooperation channels.
3110496 gc Apr 29, 2026 gkaliraman Sweden Regulator - news gamblingcompliance
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Sweden's Gambling Authority Issues New Regulation on Spelpaus.se Self-Exclusion Registry Controls

On April 29, 2026, the Swedish Gambling Authority (Spelinspektionen) issued a new regulation governing how licensed operators must conduct checks against Spelpaus.se, Sweden's national self-exclusion registry. The regulation applies to all licensed operators required to register players under Chapter 12, Section 1 of the Gambling Act (2018:1138). Under the new rules, operators must use their unique connection credentials assigned by Spelinspektionen when checking against Spelpaus.se. Operators are required to perform checks using the application programming interface (API) that corresponds to the purpose of the control. The regulation clarifies that a control is considered complete once it has determined whether a person is excluded from gambling or not. The regulation aims to standardise and strengthen operator compliance with Sweden's self-exclusion framework by ensuring consistent and accurate verification procedures across the licensed gambling market. This development reflects Spelinspektionen's continued focus on player protection and the effective implementation of self-exclusion mechanisms. The new regulation enters into force on August 1, 2026. Operators must ensure their systems and procedures align with the new requirements by this date. **Reference:** Spelinspektionens föreskrifter om det nationella självavstängningsregistret (SIFS 2026:3)

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Swedish regulator issues new regulation on the self-exclusion registry controls

On April 29, 2026, the Swedish Gambling Authority (Spelinspektionen) issued a new regulation governing how licensed operators must conduct checks against Spelpaus.se , Sweden's national self-exclusion registry. The regulation applies to all licensed operators required to register players under Chapter 12, Section 1 of the Gambling Act (2018:1138) . Under the new rules, operators must use their unique connection credentials assigned by the Authority when checking against the registry. Furthermore, operators are required to perform checks using the application programming interface (API) that corresponds to the purpose of the control. The regulation clarifies that a control is considered complete once it has determined whether a person is excluded from gambling or not. The regulation aims to standardise and strengthen operator compliance with Sweden's self-exclusion framework by ensuring consistent and accurate verification procedures across the licensed gambling market. This development reflects the Authority's continued focus on player protection and the effective implementation of self-exclusion mechanisms. The new regulation enters into force on August 1, 2026, requiring operators to ensure their systems and procedures align with the new requirements by this date.
3103435 pc Apr 29, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom's Financial Conduct Authority Faces Legal Challenge to Motor Finance Compensation Scheme

On April 27, 2026, the Financial Conduct Authority (FCA) announced that its motor finance compensation scheme has been subject to legal challenge. The FCA stated that it is considering its approach to the challenge and will provide further details later in the week. The FCA characterised its compensation scheme as "the quickest, fairest and most efficient way to compensate consumers" affected by motor finance issues. The authority expressed concern that the legal challenge will delay consumer payouts and prolong uncertainty for stakeholders involved in the motor finance market. The FCA noted that for many consumers, compensation payments would be timely given current household financial pressures, including rising bills. The FCA indicated that the legal challenge creates broader market implications, stating that prolonged uncertainty is detrimental to investment and the health of the motor finance market generally. The FCA committed to setting out its response and next steps later in the week of April 27, 2026. Further details regarding the nature of the challenge, the parties involved, and the FCA's formal response were not disclosed in this initial statement. Consumers and market participants should monitor FCA communications for updates on how the authority intends to proceed and any potential impacts on the compensation scheme's implementation timeline.

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UK's Financial Conduct Authority Faces Legal Challenge to Motor Finance Compensation Scheme

On April 27, 2026, the Financial Conduct Authority (FCA) announced that its motor finance compensation scheme has been subject to legal challenge. The FCA expressed concern that the legal challenge will delay consumer payouts and prolong uncertainty for stakeholders involved in the motor finance market. The FCA committed to setting out its next steps later in the week of April 27, 2026.
3110320 pc Apr 29, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom's Financial Conduct Authority Reviews Annual Percentage Rate Communications in Credit Advertising

On April 29, 2026, the Financial Conduct Authority (FCA) published a Discussion Paper and Consultation Paper reviewing whether Annual Percentage Rates (APRs) effectively help consumers understand borrowing costs and support their purchasing decisions in credit markets. APRs indicate the yearly cost of borrowing, including interest and fees, with a representative APR meaning at least half of consumers receive that rate or better. Current rules require representative APRs in most credit advertising. The FCA's research, conducted by its behavioural economics team and PwC, reveals that while APRs are useful for product comparison, they do not always enable consumers to understand the true cost of credit. When an APR alone was presented to consumers, 80 percent correctly identified the cheapest product when the lower APR corresponded to lower repayment costs. However, fewer than one in five did so when the lower APR did not indicate cheaper borrowing. The research indicates that additional information, such as total repayment figures tailored to specific products, can enhance consumer understanding, though inconsistent presentation formats may complicate comparisons. The FCA is proposing to simplify the Consumer Credit rule book on credit advertising by removing duplication and outdated requirements where the Consumer Duty already establishes clear expectations for firms to support consumer understanding. The proposals explore more flexible ways of presenting loan costs to help borrowers make better-informed choices. Alison Walters, FCA director of consumer finance, stated the authority is seeking views on whether alternative approaches could better support consumers navigating credit products. The comment period for both papers closes on June 17, 2026. Responses can be submitted via the FCA's consultation portal.

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UK's Financial Conduct Authority Consults on Financial Promotions Rules for Consumer Credit

On April 29, 2026, the Financial Conduct Authority (FCA) consulted on proposed changes to simplify financial promotions rules consumer credit sourcebook (CONC 3) and opened a discussion on ways to improve how cost of credit information is presented to consumers. This consultation paper (CP26/15) proposes the following changes: Remove provisions in CONC 3 which may be unnecessarily prescriptive. Instead, the FCA proposes to rely on firms delivering the Duty’s consumer understanding outcome to ensure their communications meet consumers’ information needs and are likely to be understood. Make minor amendments to CONC 3.3.1AG to reflect changes made by the Digital Markets, Competition and Consumer Act 2024 (DMCCA) . CP26/15 also contains a discussion paper (Chapter 4) discussing three key areas regarding cost disclosures that the FCA is seeking views on: The extent to which disclosure of the Representative APR supports consumer understanding of the cost of the credit and what alternatives might be considered. Whether the mandatory inclusion of a representative example when triggered supports consumer understanding. Whether the current 51 percent threshold for determining a Representative APR remains appropriate. Depending on the responses, the FCA will consider whether to consult further on possible policy interventions Responses can be made through email to cp26-15@fca.org.uk or via the online response form by the consultation deadline of June 17, 2026.
3108252 pc Apr 29, 2026 tojuri Cyprus News financial services
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Central Bank of Cyprus - Central Bank of Cyprus Annual Report for 2025

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3109203 pc Apr 29, 2026 tojuri Spain Bank of Spain financial services
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Bank of Spain Publishes 2025 Supervision Report

On April 28, 2026, the Bank of Spain published its 2025 Supervision Report (Memoria de Supervisión 2025), which provides an overview of the financial sector's resilience and supervisory developments during the year. The report highlights the Spanish financial sector's capacity to withstand adverse scenarios, demonstrating robust resilience in the face of challenging conditions. However, the Bank of Spain emphasises the need for continued caution given ongoing geopolitical and macroeconomic tensions that could impact banking sector activity. The report reflects the Bank of Spain's prudential supervision approach and its role within the Single Supervisory Mechanism (SSM), the European banking supervision framework under which it operates. The 2025 Supervision Report is prepared by the Bank of Spain's Directorate General of Supervision and serves as a key document outlining supervisory priorities, risks identified in the financial sector, and the regulatory actions taken throughout the year. The report provides transparency on the Bank of Spain's supervisory activities and the overall health of Spain's banking system. REFERENCES: Bank of Spain. (2026). Memoria de Supervisión 2025. Available at: https://www.bde.es/

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Banco de España Publishes 2025 Supervision Report

On April 28, 2026, the Bank of Spain published its 2025 Supervision Report, which provides an overview of the financial sector's resilience and supervisory developments during the year. The report details the actions taken during the year and the results achieved, reflecting a financial system well-positioned to withstand adverse conditions. However, caution is warranted given the persistence of geopolitical and economic tensions, which could affect banking activity. The report summarises the functions and organisation of the bank's supervision in 2025, including the supervision of entities, which is structured in three areas: Microprudential, focused on the solvency and risk management of each entity. Macroprudential, aimed at safeguarding the stability of the entire financial system. The conduct of entities, which ensures transparency and customer protection.
3107463 pc Apr 29, 2026 tojuri Malta Malta Financial Services Authority financial services
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Malta Financial Services Authority Issues Circular on Correspondent Banking Payment Transaction Reporting Template Amendments

On April 28, 2026, the Malta Financial Services Authority (MFSA) issued a circular to credit institutions regarding amendments to the reporting template for correspondent banking payment transactions. The circular provides updated guidance on reporting requirements for credit institutions engaged in correspondent banking activities. Correspondent banking involves the provision of payment and other services by one financial institution (the correspondent) to another financial institution (the respondent), typically across borders. The amended reporting template establishes standardised requirements for how credit institutions must report information on correspondent banking payment transactions to the MFSA. The circular forms part of the MFSA's ongoing supervisory framework for banking institutions operating in Malta. It ensures that credit institutions maintain consistent and accurate reporting standards in relation to their correspondent banking operations, supporting the authority's supervision and monitoring of cross-border payment flows and financial crime compliance. Credit institutions authorised to operate in Malta are required to comply with the requirements set out in the circular. The amendments to the reporting template reflect evolving regulatory expectations and supervisory priorities within the correspondent banking sector. The circular and accompanying reporting template are available on the MFSA website alongside other supervisory guidance and resources for regulated firms. **REFERENCES:** Malta Financial Services Authority. Circular to Credit Institutions on Amendments to the Reporting Template on Correspondent Banking Payment Transactions. April 28, 2026. Available at: https://www.mfsa.mt/

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Malta Financial Services Authority Issues Circular on Correspondent Banking Payment Transaction Reporting Template Amendments

On April 28, 2026, the Malta Financial Services Authority (MFSA) issued a circular to credit institutions regarding amendments to the reporting template for correspondent banking payment transactions. The circular informs credit institutions of the amendments made to the reporting template for the submission of information on correspondent banking payment transactions and are intended to improve the consistency, completeness and overall quality of the data reported to the MFSA. Key amendments include: A set of data quality checks has been incorporated into the “Checks” tab. All operational currencies have been incorporated as columns in both the Inward and Outward reporting tabs. The MFSA reminds credit institutions that no structural changes are to be made to the reporting template as provided.
3117734 pc Apr 29, 2026 arahman Russia Bank of Russia financial services
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Russia's Bank of Russia Tightens Macroprudential Limits for Mortgage and Consumer Lending in 2026 Q3

On April 29, 2026, the Bank of Russia announced adjustments to its macroprudential policy framework, effective from July 1, 2026 (Q3 2026), targeting high-risk lending segments across the financial sector. The Bank of Russia tightened macroprudential limits (MPLs) for mortgage loans, reflecting rising delinquencies in housing finance. As of April 1, 2026, mortgages overdue for more than 90 days reached 1.0 percent, up from 0.6 percent a year earlier, driven primarily by loans issued during the 2023–2024 subsidised mortgage programme. The regulator reduced MPLs for mortgages with debt service-to-income (DSTI) ratios above 80 percent or down payments below 20 percent, from 7 percent to 5 percent for housing under construction and from 20 percent to 15 percent for existing housing. For individual housing construction (IHC) mortgages and home equity loans, the Bank of Russia established new restrictions targeting borrowers with DSTI above 50 percent, with stricter sub-limits for those exceeding 80 percent DSTI. IHC mortgage delinquencies reached 4.4 percent and home equity loan delinquencies climbed to 6.1 percent as of April 1, 2026. The regulator maintained unchanged MPLs for unsecured consumer loans and car loans, noting that leading indicators of loan servicing are gradually improving. However, it tightened MPLs for general-purpose consumer loans secured by motor vehicles, reducing the limit for borrowers with DSTI above 50 percent from 20 percent to 18 percent. The Bank of Russia also maintained the national countercyclical buffer at 0.5 percentage points, determining that banks hold sufficient capital buffers to support sustainable credit expansion. The macroprudential add-on for large highly leveraged companies remains at the elevated 100 percent level set in March 2026, with no revisions to corporate foreign currency credit add-ons.

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Central Bank of Russia Tightens Macroprudential Limits for Mortgage and Consumer Lending

On April 29, 2026, the Central Bank of Russia (CBR) announced adjustments to its macroprudential policy framework, effective from July 1, 2026 (Q3 2026), targeting high-risk lending segments across the financial sector. The CBR tightened macroprudential limits (MPLs) for mortgage loans, reflecting rising delinquencies in housing finance. To limit lending to borrowers with very high debt service-to-income ratio (DSTI), the CBR has tightened the MPLs in these segments for Q3 2026. The regulator has set a new MPL for IHC mortgages to restrict the issue of loans to borrowers with DSTI above 50 percent. The regulator maintained unchanged MPLs for unsecured consumer loans and car loans, noting that leading indicators of loan servicing are gradually improving.
3108402 pc Apr 29, 2026 tojuri France National Assembly horizon scanning
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France's National Assembly Introduces Bill to Limit Banking Fees

On April 28, 2026, the French National Assembly introduced Proposition de loi n° 2730 (Bill n° 2730), a legislative proposal containing multiple justice measures designed to limit banking fees. The bill addresses consumer protection in the banking sector by implementing measures to regulate and reduce the fees charged by financial institutions to their customers. The proposal aims to enhance fairness in banking practices and provide relief to consumers facing excessive charges. The bill has been referred to the Commission des finances (Finance Committee) for examination and deliberation. The legislative process will now proceed through committee review, during which amendments may be proposed and debated. The Finance Committee will assess the bill's provisions and prepare recommendations for the full National Assembly. The bill is available in multiple formats, including PDF, HTML, and XML versions, for public access and review. Further developments will occur as the committee progresses through its examination of the proposal and as amendments are considered.

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Bill to Limit Banking Fees Submitted to France's National Assembly

On April 28, 2026, Bill No. 2730 was introduced to the French National Assembly. The legislative proposal contains multiple legal measures to limit banking fees. The bill addresses consumer protection in the banking sector by implementing measures to regulate and reduce the fees financial institutions charge their customers. The proposal aims to enhance fairness in banking practices and provide relief to consumers facing excessive charges. The bill introduces provisions to eliminate most bank overdraft fees and commissions related to bank interventions. The bill is currently in the first stage of the legislative process.
3107665 pc Apr 29, 2026 adavies European Union Official Gazette horizon scanning
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European Commission Review Confirms Digital Markets Act Remains Fit for Purpose

On 28 April 2026, the European Commission published its first review of the Digital Markets Act (DMA), concluding that the regulation remains fit for purpose and has delivered positive impacts during its first two years of application. The review, based on analysis of over 450 contributions from stakeholders including small and medium-sized enterprises (SMEs), gatekeepers, civil society organisations, and academics, found that the DMA has opened new opportunities for businesses and developers while enhancing user control. Key achievements include enabling users to transfer data between services and devices, select alternative search engines and web browsers as defaults, and exercise meaningful choice regarding personal data combination across services. The regulation has also facilitated ecosystem opening, with manufacturers of connected devices gaining enhanced interoperability access, alternative app stores launching, and new messaging applications emerging through interoperability obligations. The review identifies cloud services and artificial intelligence as priority areas for future enforcement to further advance the DMA's objectives of fairness and market contestability. The Commission notes that simplifying procedures, enhancing transparency, and monitoring emerging digital trends would strengthen the DMA's effectiveness. The review also highlights significant untapped potential to fully achieve the regulation's objectives, requiring continuous regulatory dialogue and rigorous enforcement. The Commission published a complementary study on social network interoperability, finding no clear demand from consumers and businesses for interoperability between designated social networks, though it will continue monitoring these services. The DMA requires a comprehensive review every three years as mandated by the regulation itself to ensure continued effectiveness in evolving digital markets. The report is addressed to the European Parliament, the Council, and the European Economic and Social Committee.

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European Commission Issues Review of Regulation (EU) 2022/1925 (Digital Markets Act - DMA)

On April 28, 2026, the European Commission published its first review of Regulation (EU) 2022/1925 (Digital Markets Act – DMA), concluding that the regulation remains fit for purpose and has delivered positive impacts during its first two years of application. The review, based on analysis of more than 450 contributions from stakeholders including small and medium-sized enterprises (SMEs), gatekeepers, civil society organisations and academics, found that the DMA has opened new opportunities for businesses and developers while enhancing user control. Key achievements include enabling users to transfer data between services and devices, select alternative search engines and web browsers as defaults, and exercise meaningful choice regarding personal data combination across services. The regulation has also facilitated ecosystem opening, with manufacturers of connected devices gaining enhanced interoperability access, alternative app stores launching and new messaging applications emerging through interoperability obligations. The review identifies cloud services and artificial intelligence as priority areas for future enforcement to further advance the DMA's objectives of fairness and market contestability. The review also highlights significant untapped potential to fully achieve the regulation's objectives, requiring continuous regulatory dialogue and rigorous enforcement.
3107065 pc Apr 29, 2026 adavies European Union European Payments Council horizon scanning
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European Payments Council Publishes Guidelines Supporting Optional Verification Of Payee Data Exchange

On April 28, 2026, the European Payments Council (EPC) published guidelines to support the optional exchange of data sets under the Verification Of Payee (VOP) scheme. The guidelines are designed to facilitate rapid, transparent, and structured handling of issues between VOP scheme participants through an inquiry process framework. The guidelines introduce two key templates to standardise interactions between participants: a structured inquiry request template to facilitate information exchange between VOP scheme participants, and a refund request template. These tools aim to streamline communication and resolution processes within the VOP scheme ecosystem. The guidelines and templates are provided for informational and guidance purposes only and do not constitute mandatory requirements for VOP scheme participants. Participation in this optional process is voluntary, and VOP scheme participants may elect to begin using these templates and guidelines from May 1, 2026, at their discretion. The EPC has made the guidelines and templates available for download on its website, allowing participants to assess their applicability to their operations and implement them according to their individual circumstances and requirements. **Reference:** European Payments Council. Guidelines to support an optional exchange of data sets under the Verification Of Payee (VOP) scheme. April 28, 2026. Available at: https://www.europeanpaymentscouncil.eu/

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European Payments Council Publishes Guidelines Supporting Optional Verification Of Payee Data Exchange

On April 28, 2026, the European Payments Council (EPC) published guidelines to support the optional exchange of data sets under the verification Of payee (VOP) scheme. The guidelines are designed to facilitate rapid, transparent, and structured handling of issues between VOP scheme participants through an inquiry process framework. The guidelines introduce two key templates to standardise interactions between participants: A structured inquiry request template to facilitate information exchange between VOP scheme participants. A refund request template. These tools aim to streamline communication and resolution processes within the VOP scheme ecosystem. Participation in this process is voluntary, and VOP scheme participants may elect to begin using these templates and guidelines from May 1, 2026.
3111403 pc Apr 28, 2026 ataylor Florida Florida Office of Financial Regulation - Division of Administrative Hearings horizon scanning
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Florida Office of Financial Regulation Orders Money Services Business License Surrender by Evita Pay, Inc.

On April 28, 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order concluding administrative proceedings against Evita Pay, Inc. and Iurii Gugnin, the company's president and sole owner. The order approved a Stipulation and Consent Agreement resolving violations identified during an examination of the money services business. Evita Pay, Inc. held money services business license number FT230000481 under Chapter 560, Florida Statutes. The OFR's examination (Exam No. 131142) identified that Respondents failed to maintain a corporate surety bond or collateral deposit in the required amount, in violation of Section 560.209(5), Florida Statutes. Rather than pursue further litigation, the parties agreed to resolve the matter through settlement. Under the terms of the agreement, Evita Pay, Inc. voluntarily surrendered its money services business license effective upon entry of the Final Order. All rights and privileges associated with the license terminated immediately. Additionally, Iurii Gugnin and Evita Pay, Inc. are prohibited from acting as affiliated parties of any money services business licensed or required to be licensed by the OFR, and cannot apply for any license under Chapter 560, Florida Statutes, for a period of ten years from the date of the Final Order. The respondents agreed to cease and desist from violations of Chapter 560, Florida Statutes, and comply with all provisions thereof. The agreement constitutes final agency action, and respondents waived their rights to an administrative hearing, appeal, and judicial review of the settlement terms. REFERENCES: State of Florida Office of Financial Regulation. Final Order, Case Number 130794 (April 28, 2026).

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Florida Office of Financial Regulation Revokes Evita Pay's License for Surety Bond Violation

On April 28, 2026, the Florida Office of Financial Regulation issued a final order approving a stipulation and consent agreement with Evita Pay, Inc. (Evita), a licensed money services business. The OFR's primary finding was that Evita did not at all times maintain a corporate surety bond, a core requirement for money services businesses under Florida law. Evita voluntarily surrendered its money services business license. In addition, Evita is barred from acting as an affiliated party of any money service business licensed or required to be licensed in Florida, and from applying for any license under Chapter 560 for a period of ten years from the date of the final order. No administrative fine was imposed.
3106305 pc Apr 28, 2026 pthandapani South Korea Financial Services Commission horizon scanning
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South Korea's Financial Services Commission Amends Specialized Credit Finance Law to Streamline Card Merchant Enrollment and Expand Intermediary Services

On April 28, 2026, South Korea's Financial Services Commission (FSC) approved amendments to the Specialized Credit Finance Business Act Enforcement Decree following cabinet approval. The amendments introduce regulatory improvements focused on institutionalizing innovative financial services and enhancing operational efficiency for credit card merchants and specialized credit finance companies. The key amendments address two primary areas. First, the enforcement decree now permits non-face-to-face business verification for credit card merchant enrollment. Previously, merchant recruiters were required to physically visit business locations to verify operations, creating delays for small business owners. The amendment allows recruiters to conduct verification electronically using location-tagged photographs uploaded through mobile applications, a practice previously permitted under the innovative financial services framework since November 2020. This change is expected to expedite merchant enrollment and business commencement for small business operators. Second, the amendments clarify and expand the scope of specialized credit finance companies' operations by explicitly permitting them to engage in intermediary and brokerage services for lease and installment products offered by other companies. Previously, the legal basis for such intermediary activities remained unclear, creating operational uncertainty. Additionally, the FSC is implementing follow-up measures announced at the November 20, 2025 Credit Finance Company Chief Executive Officer meeting regarding payment convenience for minors. These measures, effective May 4, 2026, include institutionalizing minor family card issuance without requiring separate innovative financial services designation, increasing post-payment transit card usage limits for minors aged 12 and above from 50,000 won to 100,000 won monthly, and lowering the minimum issuance age for post-payment transit-free check cards from 12 to 7 years old. The enforcement decree amendments are scheduled for promulgation on May 4, 2026, with immediate implementation.

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South Korea's Financial Services Commission Amends Enforcement Decree of Specialized Credit Finance Act

The Financial Services Commission (FSC) has released the amendment to the enforcement decree of the specialized credit finance business act. The amendments prescribe: Non-face-to-face credit card merchant verification allowing merchant recruiters to use electronic methods to verify business operations without directly visiting the site, thereby institutionalizing a previously limited innovative financial service to expedite the sign-up process for small business owners. Lease and installment product brokerage stipulating that specialized credit finance companies are explicitly permitted to engage in the brokerage and arrangement of lease and installment products of other companies. Card payment convenience for minors mandating the institutionalization of family card issuance for minors without needing special designation, raising the monthly post-paid transaction limit on minors' check cards from KRW 50,000 (US$34) to KRW 100,000 (US$68), and lowering the issuance age for minors' check cards without post-paid transaction features from 12 years to 7 years of age. The amendments will come into force immediately upon promulgation, which is tentatively scheduled for May 4, 2026.
3106190 pc Apr 28, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Stressed Asset Resolution Directions for Commercial Banks

On April 27, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Amendment Directions, 2026, modifying the existing 2025 Directions. The amendments align the stressed asset resolution framework with the newly issued Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026. The amendments introduce new triggers for identifying stressed assets, including significant downgrades in external or internal credit ratings, material changes in collateral values, delays in fee or charge payments, and expected changes in loan documentation that may result in covenant waivers, amendments, or interest payment holidays. The amendments also clarify provisioning requirements across multiple scenarios: restructured accounts, accounts undergoing insolvency resolution, accounts receiving debt cascade credit obligation (DCCO) deferment, and project loans. All provisioning obligations now reference the 2026 Asset Classification Directions. Additionally, the amendments modify provisions relating to income recognition for non-performing assets (NPAs), the freezing of provisions during insolvency proceedings, and restructuring of loans following natural calamities. The amendments delete paragraph 162 of the original Directions entirely. Commercial banks in India must implement these amendments by April 1, 2027. Banks should review their internal policies, systems, and processes to ensure compliance with the new triggers for stressed asset identification and the updated provisioning requirements across all asset categories and resolution scenarios. REFERENCE: Reserve Bank of India. (2026). Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Amendment Directions, 2026. RBI/2026-27/23. Available at: https://www.rbi.org.in/

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Reserve Bank of India Amends Stressed Asset Resolution Directions for Commercial Banks

The Reserve Bank of India (RBI) has released amendments to its directions on the resolution of stressed assets for commercial banks. The directions prescribe: Expanded indicators of financial stress including adding significant downgrades in external or internal credit ratings, significant changes in collateral value, delays in payment of fees or charges, and expected changes in loan documentation such as covenant waivers, interest payment holidays, interest rate step-ups, or delays in scheduled reviews to the existing framework. Comprehensive regulatory alignment mandating that the new Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026 , shall now govern the provisions required for restructured accounts, interim finance during insolvency processes, natural calamity relief, and project loans. Asset classification and income recognition updates stipulating that the aging criteria for asset classification, income recognition for non-performing assets (NPAs), and the definition of farm credit must align with the newly issued 2026 directions, and requiring additional specific provisions over and above applicable staging provisions for standard accounts that have availed a date of commencement of commercial operations (DCCO) deferment. Resolution plan and insolvency modifications specifying that the facility for freezing provisions lapses immediately if the adjudicating authority rejects the submitted resolution plan, and confirming that the conditions for implementing a resolution plan must strictly comply with paragraphs 31 to 40 of the framework. The amendments will come into force from April 1, 2027.
3106958 pc Apr 28, 2026 adavies European Union European Commission horizon scanning
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European Commission Publishes Communication on Simplifying and Enforcing European Union Rulebook

On April 28, 2026, the European Commission published a communication titled "A Simpler, Clearer and Better Enforced EU Rulebook." The communication was issued by the Secretariat-General and addresses regulatory reform across the European Union. The communication sets out the European Commission's approach to improving the clarity, accessibility, and enforcement of EU legislation. It focuses on three core objectives: simplifying existing rules to reduce complexity for stakeholders; clarifying regulatory requirements to ensure consistent interpretation and application; and strengthening enforcement mechanisms to ensure compliance across member states. The initiative recognises that overly complex or unclear regulations can create barriers for businesses, particularly small and medium-sized enterprises, whilst also hindering effective regulatory oversight by national authorities. The communication includes two annexes providing supplementary detail on specific regulatory areas and implementation considerations. These annexes outline priority sectors for regulatory simplification and propose mechanisms for improving coordination between EU institutions and member states on enforcement activities. The European Commission intends this communication to serve as a framework for ongoing regulatory review and reform efforts. Member states and stakeholders are expected to engage with the proposals outlined in the communication as part of broader EU policymaking processes. The communication is available in English alongside its two supporting annexes on the European Commission website. REFERENCES: European Commission. (2026). A Simpler, Clearer and Better Enforced EU Rulebook. Retrieved from https://ec.europa.eu/

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European Commission Proposes Plan for Simpler, Clearer and Better Enforced EU Rules

On April 28, 2026, the European Commission published its proposed plan to modernise EU law making, ensuring that laws are clearer, simpler and more efficiently enforced. The plan calls for the commission to act in five key areas: Simplicity by design: EU laws must be easy to understand, apply and enforce. The commission aims to embed "simplicity by design" into every proposal, ensuring clarity on who must act, how to comply and the consequences of non-compliance. Strengthening the better regulation framework: the better regulation system sets out the principles that the European Commission follows when preparing new initiatives. It will be further improved to enhance transparency, stakeholder engagement and efficiency. Regulatory deep cleaning: while the Union continues to pursue ambitious policies, it must also put its large stock of existing legislation in order. An action plan will tackle inconsistencies, overlapping and overly complex provisions in 12 priority areas. Tackling regulatory gold-plating: the commission will help member states identify and tackle unnecessary complexity and barriers to the Single Market where they apply stricter or more extensive requirements than those set out in EU law. Faster, robust enforcement: the commission will strengthen enforcement of the Single Market rulebook in selected policy areas. A focus will also be placed on reducing the number of long-standing infringement cases. In doing so, the commission has also identified 12 priority areas where action is needed to remove outdated rules and eliminate contradictions. Financial services is included within those priority areas. For the regulatory cleaning, it is expected to result in legislative or other measures that address outdated provisions, overlaps, inconsistencies or requirements creating unnecessary burden. It will also foster consolidation in areas characterised by high regulatory fragmentation, and it may lead to the withdrawal of individual commission proposals; for example, in cases where these might no longer reflect current realities or where legislative negotiations have stalled.
3106015 pc Apr 28, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Commercial Banks' Credit Risk Transfer Directions

On April 27, 2026, the Reserve Bank of India (RBI) issued amendment directions to the Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025. The amendments modify provisions governing how commercial banks recognise, measure, and transfer credit risk, particularly concerning stressed loans and asset transfers. The key amendments include: insertion of Paragraph 52A, which requires permitted transferees to recognise and measure acquired loans in accordance with the Reserve Bank of India (Commercial Banks - Asset Classification, Provisioning and Income Recognition) Directions, 2026; deletion of Paragraph 53; insertion of Paragraph 70A, which mandates that stressed loans acquired by banks be classified as purchased or originated credit-impaired financial assets (POCI) and be subject to POCI-related guidelines for provisioning, recognition, measurement, and disclosure; deletion of Paragraph 73; and modification of Paragraph 81 to clarify that when stressed loans are transferred to an Asset Reconstruction Company (ARC) at a price below net book value, banks must debit the shortfall to the profit and loss account in the year the transfer occurs. These amendments align the credit risk transfer framework with updated asset classification and provisioning standards. The amendments apply to commercial banks engaged in transferring or distributing credit risk through permitted transferees and ARCs. The amendments come into force on April 1, 2027, providing banks with a transition period to implement the revised requirements. **Reference:** Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Amendment Directions, 2026, RBI/2026-27/24, April 27, 2026

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Reserve Bank of India Amends Directions Credit Risk Transfers for Commercial Banks

The Reserve Bank of India (RBI) has released amendments to its directions on credit risk transfers for commercial banks. The amending directions prescribe: Initial recognition and measurement for permitted transferees including mandating that the initial recognition and subsequent measurement of acquired loans must align with the Reserve Bank of India (Commercial Banks - Asset Classification, Provisioning and Income Recognition) Directions, 2026 . Stressed loan classification and POCI guidelines stipulating that stressed loans acquired by banks shall be classified as purchased or originated credit-impaired financial assets (POCI) and must follow POCI related guidelines for provisioning, initial recognition, subsequent measurement, and relevant disclosures. Accounting for shortfalls on transfers to ARCs requiring that when a stressed loan is transferred to an asset reconstruction company (ARC) at a price below the net book value (NBV) at the time of transfer, the bank shall debit the shortfall to the profit and loss account for the year in which the transfer takes place. The amending directions also remove two provisions dealing with general capital adequacy and the recording of stressed loans in banks books. The directions take effect on April 1, 2027.
3107579 pc Apr 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 35 Entities and Individuals Facilitating Iran's Shadow Banking System

On April 28, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated 35 entities and individuals operating within Iran's shadow banking architecture as part of the Economic Fury campaign. These designations target networks that facilitate the movement of tens of billions of dollars through sanctions evasion and support Iran's sponsorship of terrorism. The shadow banking system enables Iran's armed forces, including the Islamic Revolutionary Guard Corps (IRGC), to access the international financial system to receive payments for illicit oil sales, purchase sensitive components for missiles and weapons systems, and transfer funds to Iran's terrorist proxies. The designations specifically target rahbar companies—private firms that manage thousands of overseas shell companies used to execute payments for Iranian imports and exports. These companies coordinate with Iranian exchange houses and front companies across multiple jurisdictions to facilitate sanctioned trade on behalf of the IRGC, Iran's Armed Forces General Staff, the National Iranian Oil Company (NIOC), and other sanctioned entities. The action was taken pursuant to Executive Order 13902, targeting persons operating in Iran's financial sector, and Executive Order 13224, a counterterrorism authority. It builds on OFAC's January 15, 2026 action targeting the rahbar networks of Bank Melli and Bank-e Shahr. Since February 2025, OFAC has sanctioned approximately 1,000 Iran-related persons, vessels, and aircraft as part of this maximum economic pressure campaign. All property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked. Unless authorized by OFAC or exempt, U.S. persons are prohibited from engaging in transactions involving any property or interests of blocked persons. Violations may result in civil or criminal penalties. Non-U.S. persons are also prohibited from causing U.S. persons to violate sanctions or engaging in conduct that evades U.S. sanctions.

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US Office of Foreign Assets Control Designates Individuals and Entities Facilitating Iran's Shadow Banking System

On April 28, 2026, the US Office of Foreign Assets Control (OFAC) designated 35 individuals and entities operating within Iran's shadow banking system as part of  its "Economic Fury" initiative. The designations target networks that facilitate the movement of tens of billions of dollars through sanctions evasion and support Iran's sponsorship of terrorism. The designations specifically target "rahbar" companies — private firms that manage thousands of overseas shell companies used to execute payments for Iranian imports and exports. According to OFAC , these companies coordinate with Iranian exchange houses and front companies across multiple jurisdictions to facilitate sanctioned trade on behalf of the Iranian Revolutionary Guard Corps (IRGC), Iran's Armed Forces General Staff, the National Iranian Oil Company (NIOC) and other sanctioned entities. The action was taken pursuant to Executive Order 13902 , targeting Iran's financial sector, and Executive Order 13224 , a counterterrorism authority. All property and interests in property of the designated individuals and entities are blocked, and US individuals and entities are generally prohibited from conducting transactions with them unless expressly authorized by OFAC.
3107578 pc Apr 28, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Warns Financial Institutions of Sanctions Risks Linked to China-Based Oil Refineries

On April 28, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued an alert to financial institutions regarding sanctions risks associated with independent "teapot" oil refineries in China, particularly in Shandong Province, due to their continued importation and refining of Iranian crude oil. China purchases approximately 90 percent of Iran's oil exports, with teapot refineries accounting for the majority of these imports. Revenue from this trade benefits the Iranian regime, its weapons programs, and military activities. Some Chinese teapot refineries have utilised the U.S. financial system to conduct dollar-denominated transactions and procure U.S. goods. OFAC identified common evasion tactics employed in this trade, including the use of front companies in Asia and the United Arab Emirates, intermediary brokers, and a "shadow fleet" using deceptive shipping practices such as ship-to-ship transfers, falsified documentation, and vessel identity manipulation. The alert directs financial institutions to implement risk-based controls to avoid facilitating transactions involving designated teapot refineries or other refineries importing Iranian oil; conduct enhanced due diligence on transactions involving China-based refineries, particularly in Shandong Province; and implement clear communication of sanctions compliance expectations to correspondent banks. Since March 2025, OFAC has designated multiple China-based teapot refineries that have collectively processed billions of dollars' worth of Iranian-origin oil. The Treasury indicated it is prepared to deploy secondary sanctions against foreign financial institutions that continue to support Iran's activities. Financial institutions should review the full alert and implement appropriate compliance measures immediately.

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US Office of Foreign Assets Control Warns Financial Institutions of Sanctions Risks Linked to Chinese Oil Refineries

On April 28, 2026, the US Office of Foreign Assets Control (OFAC) issued an alert to financial institutions regarding sanctions risks associated with independent "teapot" oil refineries in China, particularly in Shandong Province, due to their continued importation and refining of Iranian crude oil. According to OFAC , China purchases approximately 90 percent of Iran's oil exports, with these refineries accounting for the majority of their imports, and with revenue from this trade benefiting the Iranian regime, its weapons programs and military activities. Some Chinese refineries utilize the US financial system to conduct dollar-denominated transactions and procure US goods. In the alert, OFAC identifies common evasion tactics employed in this trade, including the use of front companies in Asia and the Middle East, intermediary brokers and a "shadow fleet" using deceptive shipping practices such as ship-to-ship transfers, falsified documentation and vessel identity manipulation. The alert directs financial institutions to implement risk-based controls to avoid facilitating transactions involving designated refineries or other refineries importing Iranian oil; conduct enhanced due diligence on transactions involving China-based refineries; and implement clear communication of sanctions compliance expectations to correspondent banks.
3106017 pc Apr 28, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Credit Card Past Due Reporting and Late Payment Charge Requirements

On April 27, 2026, the Reserve Bank of India (RBI) issued amendment directions to the Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025. The amendment modifies paragraph 23(5) to establish revised requirements for credit card past due reporting and late payment charge calculation. Under the amended directions, commercial banks issuing credit cards must report a credit card account as "past due" to credit information companies (CICs) or levy penal charges—including late payment charges and related charges—only when a credit card account remains past due for more than three days. Previously, reporting and charges could be applied earlier. The number of days past due and late payment charges are computed from the payment due date specified in the credit card statement, as outlined in the Reserve Bank of India (Commercial Banks - Asset Classification, Provisioning and Income Recognition) Directions, 2026. The amendment clarifies that late payment charges and other related charges apply only to the outstanding amount after the due date, not to the total amount due. This change aims to protect consumers by providing a grace period before penalties are applied and ensuring charges are calculated on a more limited basis. The amendment directions were issued under section 35A of the Banking Regulation Act, 1949 and come into force on April 1, 2027, providing banks with a transition period to implement the revised procedures. REFERENCE: Reserve Bank of India. (2026). Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) - Amendment Directions, 2026. RBI/2026-27/29 DOR.STR.REC.11/24-01-041/2026-27. https://www.rbi.org.in/

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Reserve Bank of India Amends Directions on Issuing Credit and Debit Cards for Commercial Banks

The Reserve Bank of India (RBI) has released the Reserve Bank of India (commercial banks – credit cards and debit cards: issuance and conduct) - amendment directions, 2026. The amendments stipulate that: Banks may only report a credit card holder as pat due and begin levying late charges when three days since the due date has elapsed. The aforementioned due date should only be calculated based on the due date stated in the credit card statement. Any late or penalty charges levied should only be calculated based on the outstanding amount overdue from the due date and not on the total balance. The amendments take effect on April 1, 2027.
3106019 pc Apr 28, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Commercial Banks' Capital Adequacy Prudential Norms

On April 27, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Third Amendment Directions, 2026, amending the existing capital adequacy framework for commercial banks operating in India. The amendments, issued under Section 35A of the Banking Regulation Act, 1949, align the capital adequacy directions with the recently issued Reserve Bank of India (Commercial Banks - Asset Classification, Provisioning and Income Recognition) Directions, 2026. Key modifications include the introduction of Stage 1, Stage 2, and Stage 3 asset classifications into the capital adequacy framework, consistent with the new asset classification standards. The amendments revise provisions relating to Tier 2 capital, specifying that general provisions on standard assets (Stage 1 or Stage 2 assets) and excess provisions arising from non-performing asset (NPA) sales may qualify for inclusion in Tier 2 capital, subject to a maximum of 1.25 percent of total credit risk-weighted assets under the standardised approach. Banks may alternatively net off floating provisions from gross NPAs to arrive at net NPA. The directions clarify that specific provisions on NPAs and Stage 3 exposures, whether at individual account or portfolio level, shall be excluded from Tier 2 capital calculations. Additionally, the amendments delete Paragraph 130(2) and the note to Paragraph 223 from the existing directions. The amendments come into force on April 1, 2027, providing commercial banks with a transition period to align their capital adequacy frameworks with the new asset classification and provisioning standards. Banks should review their capital management policies and systems to ensure compliance with the revised requirements by the effective date.

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India's Reserve Bank Amends Capital Adequacy Prudential Norms for Commercial Banks

The Reserve Bank of India (RBI) has issued the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Third Amendment Directions, 2026, amending the existing capital adequacy framework for commercial banks operating in India. Key modifications include: Definitions and regulatory alignments including mandating that the terms stage 1, stage 2, and stage 3 shall have the same meaning as defined in the Reserve Bank of India (Commercial Banks - Asset Classification, Provisioning and Income Recognition) Directions, 2026 . Tier 2 capital inclusions stipulating that provisions or loan-loss reserves held against future, presently unidentified losses shall qualify for inclusion within tier 2 capital, permitting general provisions on standard assets such as stage 1 or stage 2 assets and excess provisions from the sale of non-performing assets (NPAs) to qualify up to a maximum of 1.25 percent of total credit risk-weighted assets under the standardised approach, and allowing banks to either net off floating provisions from gross NPAs or reckon them as part of tier 2 capital. Tier 2 capital exclusions requiring that provisions ascribed to identified deterioration of particular assets or loan liabilities be excluded, specifically excluding provisions on NPAs or stage 3 exposures at the individual account or portfolio level, provisions in lieu of diminution in the fair value of restructured advances, and provisions against depreciation in the value of investments. The amendments will come into force from April 1, 2027.
3086383 pc Apr 28, 2026 kgurnani Dubai Dubai Financial Services Authority financial services
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Dubai Financial Services Authority Releases Consultation Paper on Miscellaneous Changes

On 27 March 2026, the Dubai Financial Services Authority (DFSA) released Consultation Paper No. 171 (CP 171) – Miscellaneous Changes for public consultation. The consultation paper addresses miscellaneous amendments to the DFSA's regulatory framework. While specific details of the proposed changes are contained within the consultation paper itself, this release invites stakeholders to submit feedback on the proposed modifications to DFSA rules and guidance. The consultation is open to all interested parties, including financial services firms, industry associations, and other market participants operating within the Dubai International Financial Centre (DIFC). The DFSA is seeking comments from the financial services industry and other stakeholders to ensure that any regulatory changes are appropriately calibrated and take into account the views of those affected by the rules. This consultation process forms part of the DFSA's broader regulatory development and policy-making framework. The deadline for submitting comments on CP 171 is 26 April 2026. Responses should be submitted through the DFSA's consultation portal or via the methods specified in the consultation paper. The DFSA will review all feedback received during the consultation period before finalising any proposed amendments to its regulatory framework. **Reference:** Dubai Financial Services Authority. Notice of Consultation Paper Release: CP 171. Available at: https://www.dfsa.ae/

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Dubai Financial Services Authority Releases Consultation Paper on Miscellaneous Changes to Prudential and Conduct of Business Modules

On 27 March 2026, the Dubai Financial Services Authority (DFSA) released Consultation Paper No. 171 (CP 171) – Miscellaneous Changes for public consultation. It proposes a series of technical and operational updates to the DFSA Rulebook, primarily focusing on the Prudential – Investment, Insurance Intermediation and Banking (PIB) and Conduct of Business (COB) modules. The key themes of of the consultation include: 1. Shift Toward Proportionality in Capital Requirements (PIB): The paper proposes moving from daily to monthly metrics for calculating certain components of the Annual Based Capital Requirement (ABCR). This is intended to reduce the administrative burden on firms while maintaining regulatory oversight. However, daily monitoring remains required for specific risks, such as K-factors related to Client Orders Handled (K-COH). 2. Updates to Client Money Framework (COB): The consultation suggests technical corrections to the client money reconciliation framework. A notable proposal is the removal of the trade settlement date requirement for certain client money processes, aimed at streamlining operations for firms handling client funds. The consultation is primarily relevant for authorized firms, compliance officers, and finance teams operating within the Dubai International Financial Centre (DIFC). Companies can send comments online by clicking here by 27 April 2026. Changes to the COB will be effective on 1 May, and changes to the PIB will be effective on 1 July 2026.
3106367 pc Apr 28, 2026 kgurnani Japan Financial Services Agency horizon scanning
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Japan's Financial Services Agency Issues Request on Cryptocurrency-Based Real Estate Transactions

On April 28, 2026, the Financial Services Agency (FSA) issued a request regarding cryptocurrency-based real estate transactions. The FSA coordinated this request with the Ministry of Land, Infrastructure, Transport and Tourism, the National Police Agency, and the Ministry of Finance. The request was directed at industry associations and relevant stakeholders concerning the use of cryptocurrency in real estate transactions. The FSA's action reflects growing regulatory attention to the intersection of digital assets and property markets in Japan. This coordinated multi-agency approach indicates heightened concern about potential risks associated with cryptocurrency use in real estate dealings, including anti-money laundering and counter-terrorism financing considerations, as well as consumer protection matters. The request represents a proactive regulatory stance on emerging financial practices that combine cryptocurrency with traditional real estate markets. By engaging industry bodies, the FSA aims to establish expectations and standards for handling such transactions before formal regulatory frameworks are implemented. Stakeholders in Japan's real estate and cryptocurrency sectors should monitor further guidance from the FSA and its partner agencies regarding compliance expectations for cryptocurrency-based property transactions. The FSA's Comprehensive Policy Bureau, Risk Analysis and Coordination Division, Cryptocurrency, Blockchain and Innovation Division, remains the responsible office for inquiries related to this matter. REFERENCE: Financial Services Agency of Japan. "Request Regarding Real Estate Transactions Using Cryptocurrency" (April 28, 2026). Available at: https://www.fsa.go.jp/

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1901 chars · nid 92236

Japan's Financial Services Agency Issues Request on Cryptocurrency-Based Real Estate Transactions

On April 28, 2026, Japan's Financial Services Agency (FSA), in coordination with other government ministries, issued a notice warning the real estate industry about the risks of using crypto assets in real estate transactions, particularly for money laundering and unregistered crypto exchange activity. The authorities highlighted a few risks related to such transactions: Real estate involves high-value transactions and is often used for asset preservation and investment, making it attractive for domestic and international criminal organisations seeking to launder criminal proceeds. Crypto assets increase this risk because they can be transferred instantly across borders and may be used to obscure the source of funds. If a real estate broker or seller receives crypto assets as payment for property and then converts those crypto assets into legal tender (fiat), this may constitute a “crypto asset exchange business” under Japan’s Payment Services Act. Under the Act on Prevention of Transfer of Criminal Proceeds, real estate brokers must: carefully verify transaction timing and customer circumstances pay close attention to expensive transactions that do not match the customer’s profile or attributes report suspicious transactions to the relevant authorities notify police where criminal activity is suspected carefully verify transaction timing and customer circumstances pay close attention to expensive transactions that do not match the customer’s profile or attributes report suspicious transactions to the relevant authorities notify police where criminal activity is suspected If a person receives crypto assets from overseas exceeding the equivalent of JPY 30 million (~$188,000) and acquired Japanese real estate, a “Report on the Acquisition of Real Estate or Rights Related Thereto Located in Japan” may be required, under the Foreign Exchange and Foreign Trade Act.
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