Published

On 6 April 2026, Singapore's Ministry of Finance published the Variable Capital Companies (Revision of Defective Financial Statements, or Consolidated Financial Statements or Balance Sheet) (Amendment) Regulations 2026. The amendment modifies the Variable Capital Companies (Revision of Defective Financial Statements, or Consolidated Financial Statements or Balance Sheet) Regulations 2020 to strengthen financial reporting and audit requirements for variable capital companies (VCCs). Key changes include: Clarification that ministerial orders substituting accounting standards apply to revised financial statements and consolidated financial statements. Expansion of requirements from "a requirement" to "all or any of the requirements"; refinement of related company definitions to align with the Companies Act 1967. Removal of provisions relating to section 109(3) of the Variable Capital Companies Act 2018 from regulation 14. The amendment introduces a new regulation 15 establishing offences and penalties for obstructing auditor access and audit functions. Officers of VCCs and officers or auditors of subsidiary corporations who refuse or fail to allow auditors access to accounting records, provide required information or explanations, or otherwise hinder or obstruct auditors in performing their duties are guilty of an offence and liable on conviction to a fine not exceeding SGD 4,000 (USD 3113). The regulations come into operation on May 6, 2026.

On April 4, 2026, the Central Bank of Russia (CBR) published the Directive amending Bank of Russia Regulation No. 820-P of August 3, 2023, "On the Digital Ruble Platform". The exchange of electronic messges in the course of cross-border transfers shall be carried out subject to the following conditions: The exchange of electronic messages between the CBR and the operator of a foreign information system shall take place around the clock, except for the time required to carry out technical and other measures to update the platform. The method of exchanging electronic messages shall be determined by an agreement concluded between the CBR and the operator of the foreign information system. Interaction between the CBR and the operator of a foreign information system in the exchange of official correspondence, as well as in the event of disputes arising from the performance of cross-border transfers, shall be conducted in accordance with the procedures and methods agreed upon by the CBR and the operator of the foreign information system. If a platform participant receives a notice of suspension of its access to the digital ruble platform, the platform participant shall, no later than the business day following the day of receipt of such notification from the CBR, send a notification to its clients (platform users) stating that it is unable to continue providing access to the digital ruble platform to its clients. This directive shall enter into force ten days after its official publication.

On April 3, 2026, the Virginia State Corporation Commission (SCC) issued an order initiating a proceeding to amend the rules governing money transmitters. The proposed amended rules are prompted by the state's 2025 passage of House Bill 1942 , which will take effect July 1, 2026 and replace the existing state law regulating money transmitters with a complete adoption of the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act . The proposed amended rules were submitted to the SCC by the Virginia Bureau of Financial Institutions and are needed to conform existing regulations in Chapter 120 of the Virginia Administrative Code to the new statutory framework and implement various provisions of the modernized act. Key amendments include: Licensing and NMLS Integration : Applications for licensure must now be submitted through the Nationwide Multistate Licensing System and Registry (NMLS). Applicants are required to provide audited financial statements for the most recent fiscal year and the preceding two-year period. Reporting Obligations : Licensees must file a report with the Commissioner of Financial Institutions within three business days after the licensee has reason to know of an indictment, charge, or conviction of any of the following persons for a felony: the licensee, a key individual or person in control of the licensee, an authorized delegate of the licensee, or an employee of the licensee. Tangible Net Worth Requirements : In alignment with the new Chapter 19.1, licensees must demonstrate tangible net worth through audited financial statements and quarterly reports of condition (such as call reports) during the initial application. Surety Bond Standards : Every licensee must maintain a surety bond in a principal amount determined by the Commissioner. Notices of cancellation of the surety bond should be submitted to the Commissioner through NMLS. Permissible Investments : Investments must be unencumbered and held solely in the name of the licensee. Specific receivables (e.g., those funded by debit/credit cards from US-chartered banks) may be considered permissible if they are no more than seven days old. Any interested person may comment on, propose modifications or supplements to, or request a hearing on the proposed amended rules by following the instructions on the SCC's website: scc.virginia.gov/case-information/submit-public-comments no later than May 22, 2026.

On 1 April 2026, the Malta Tax and Customs Administration (MTCA) and the Malta Gaming Authority (MGA) announced enhancements to Malta's Value Added Tax (VAT) and gaming tax frameworks, effective from 1 October 2026. These reforms are outlined in Legal Notices 84 and 86 of 2026 and respond to feedback from gaming industry stakeholders as part of the Government of Malta's commitment to safeguard the long-term sustainability, competitiveness and regulatory certainty of the gaming sector. The VAT amendments clarify the scope of VAT exemptions for gambling supplies, particularly regarding sports betting and certain casino offerings. The reforms establish guidance on place of supply rules to ensure taxation occurs at the place of consumption. The changes introduce a mechanism allowing gaming operators to recover eligible input VAT costs, protecting VAT neutrality for the sector. Concurrently, the MGA is amending the Gaming Tax Regulations (Subsidiary Legislation 583.10) under the Gaming Act (Cap. 583 of the Laws of Malta) to complement the new VAT rules. Key changes include simplified and equitable gaming tax rates for both land-based and online operators offering qualifying gaming activities to players present in Malta. The existing gaming tax and gaming device levy will be consolidated into a single, streamlined gaming tax structure classified according to game type and mode of offer. These changes apply exclusively to gaming services provided within Malta's territory and are designed to ensure a balanced overall impact on the sector. The MTCA will issue supporting Guidelines to establish a reliable VAT framework, while further implementation guidance will be issued by both the MTCA and MGA to support stakeholders in adapting their operations. The 1 October 2026 effective date provides stakeholders with adequate lead time for compliance planning.

On April 2, 2026, the New Zealand Parliament passed the Racing Industry (Closure of Greyhound Racing Industry) Amendment Bill with overwhelming cross-party support, receiving 112 votes to 11 at its third and final reading. Racing Minister Winston Peters welcomed the passage of the legislation, stating it reflects the clear will of New Zealanders and delivers certainty for animal welfare, industry participants, and the public. The decision to end greyhound racing follows independent reviews conducted in 2013, 2017, and 2021 that documented serious animal welfare concerns. Despite improvements made to the industry, injury and death rates remained unacceptably high, resulting in the sport losing its social licence. The ban aligns with a wider global shift away from greyhound racing, with the sport now surviving in only a small number of countries. Following New Zealand's announcement, further jurisdictions including Scotland, Wales, and Tasmania have signalled they will also end the sport. The legislation enables the establishment of a transition agency to oversee the wind-down of racing and the rehoming of dogs. The transition agency will be headed by current members of the Ministerial Advisory Committee on greyhound racing: Heather Simpson (chairperson), Murray Johnson, and Dr Lindsay Burton, with a fourth member to be appointed. The agency's key responsibilities include providing assistance to greyhound owners for dog care and rehoming, partnering with existing rehoming agencies to expand capacity, delivering retraining and redeployment support for industry workers through the Ministry of Social Development, and providing mental health and wellbeing support services for affected individuals. The ban on greyhound racing takes effect from August 1, 2026, allowing time for a responsible and carefully managed transition with dedicated funding and support mechanisms in place.

On April 10, 2026, the Kansas Office of the State Bank Commissioner (OSBC) proposed permanent amendments to Kansas Administrative Regulation 17-24-6, which governs surety bond requirements for mortgage company licensees. The changes eliminate all tiered bonding based on geographic location (in‑state vs. out‑of‑state) and prior‑year loan volume, replacing them with a uniform $100,000 minimum bond for every mortgage company. The Bank Commissioner retains discretionary authority to increase the bond up to 1m under specific risk‑based criteria. These amendments align Kansas rules with K.A.R. 75‑6‑31 (supervised lenders under the Uniform Consumer Credit Code) and are expected to produce net economic savings for the industry overall. Establishes a uniform $100,000 minimum surety bond for all mortgage companies: Every applicant and licensee must maintain a surety bond of at least $100,000, regardless of whether the company maintains a physical office in Kansas or operates from out‑of‑state. Licensees must have at least $100,000 in surety bond coverage in place by January 1 annually, providing a clear compliance deadline. Removes the automatic bond increase tied to loan volume: No higher bond amount is automatically triggered by originating more than 50m in Kansas mortgage loans during the previous calendar year. Eliminates the lower bond amounts previously available to in‑state mortgage companies: The preferential $50,000 and $75,000 bond tiers for Kansas‑based licensees are removed; all companies now face the same $100,000 minimum. Authorizes the Commissioner to require a bond up to 1m under special circumstances: The Bank Commissioner may increase the bond requirement above $100,000, up to 1m, based on three specific factors: Use of technology or methods that may require additional regulatory oversight. Prior regulatory or disciplinary actions by any state or federal regulatory body. Business structure or activities that pose elevated risk requiring additional oversight. Use of technology or methods that may require additional regulatory oversight. Prior regulatory or disciplinary actions by any state or federal regulatory body. Business structure or activities that pose elevated risk requiring additional oversight. The changes are scheduled for a public hearing on June 8, 2026, with a 60-day public comment period beginning April 2, 2026.

On April 2,  2026, the Netherlands Gambling Authority (KSA) provided clarification to gambling providers regarding the charging of fees in relation to account closure and the handling of player payouts via customer service. The clarification follows reports from players and queries from operators. KSA confirmed that operators must close a player’s account upon request and ensure that any remaining balance is paid out without undue delay. It is not permitted to charge players a fee for closing their accounts, as this could create a barrier to account closure and undermine player protection. While account closure itself must be free of charge, the KSA noted that operators may, subject to transparency requirements, charge fees for account management, payout processing, or specific payment methods. Any such costs must be clearly and unambiguously disclosed to players in advance. In relation to payouts, the KSA emphasised that player funds must be paid out without undue delay upon request. Operators are not permitted to impose structural conditions, such as minimum payout thresholds. The KSA also addressed the use of customer service for processing smaller payouts. While this practice is not prohibited, it is only acceptable where players are clearly informed in advance, and the payout is processed immediately upon request. The clarification reinforces existing obligations on operators to ensure fair, transparent, and prompt handling of player funds.

The Canadian Securities Administrators (CSA) has released CSA Staff Notice 25-315, providing a comprehensive review of the oversight activities for the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF) during the 2025 calendar year. The report details the CSA's assessment of critical regulatory functions, rule consolidation progress, and the industry's response to significant cybersecurity events. Key regulatory developments and impacts: Rule Consolidation and Harmonization: The CSA continued to oversee CIRO’s multi-phase project to consolidate rules for investment dealers and mutual fund dealers. This includes efforts to harmonize continuing education (CE) programs and compensation options for dealing representatives. Operationalization of Delegated Functions: Significant focus was placed on CIRO’s new authority over registration functions and powers for dealers and individual registrants, as well as the implementation of a new proficiency model for investment dealers. Enforcement and Investor Protection: The report notes the upcoming launch of the Disgorgement Distribution Program on April 1, 2026. This program will enable CIRO to distribute funds collected from disciplinary orders directly to financially harmed investors. Cybersecurity and Operational Resilience: Regulators assessed CIRO’s response to a significant cybersecurity breach in August 2025. Following the incident, the CSA is actively evaluating CIRO’s remedial actions and future strategic plans to determine if additional oversight interventions are required to ensure regulatory compliance. CIPF Financial Modeling: The CSA’s evaluation of the credit-risk-based fund model remains ongoing as part of a multi-year modernization of the CIPF’s financial framework. While no implementation date has been set, the transition aims to shift toward a risk-management approach.

On April 2, 2026, the Washington State Department of Financial Institutions (DFI) entered a consent order against RBC Capital Markets, LLC (RBC Capital Markets) for violations of Washington securities law. According to the terms of the consent order, the DFI conducted an investigation and found that between May 2020 and May 2025, RBC Capital Markets charged unreasonable commissions exceeding 5 percent of the principal trade amount on equity transactions. Further, the DFI found that RBC Capital Markets failed to reasonably supervise certain transactions, including those subject to minimum equity commission charges, to ensure customers were charged reasonable commissions in accordance with applicable standards. Pursuant to WAC 460-20C-150 and in accordance with RCW 21.20.110(j) , it is a violation of the Securities Act for a registered broker-dealer firm to fail to establish and maintain a system to reasonably supervise its agents. The consent order requires RBC Capital Markets to pay a fine of $25,000 and provide restitution of $160,610.84 to affected customers. The order also includes a cease and desist provision prohibiting the continuation of the conduct that gave rise to the violations.

On April 1, 2026, Open Banking Limited (OBL) published version 4.0.1 of the Open Banking Standard . This update aims to improve clarity, consistency and ease of use across the standard. Specifically, version 4.0.1 focuses on refining existing requirements rather than introducing significant new functionality. The changes include: Improved consistency across documentation. Clarity on how key requirements should be implemented. Supporting participants in meeting their regulatory obligations.

On 30 March 2026, Australia's Department of Home Affairs brought into force the Anti-Money Laundering and Counter-Terrorism Financing Transitional Rules 2026. This legislative instrument was authorised by the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 and establishes transitional arrangements for entities subject to Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime. The transitional rules provide a framework for regulated entities to adjust their compliance obligations during the implementation period following the 2024 amendment act. These rules are designed to facilitate a smooth transition for financial institutions, reporting entities, and other organisations required to comply with AML/CTF requirements under Australian law. The rules specify timeframes and conditions under which entities may operate under modified compliance arrangements before full compliance with amended obligations becomes mandatory. The rules include: Registration and status continuity: Existing remittance providers have their status unchanged. Existing digital currency exchanges automatically become Virtual Asset Providers (VASPs) under the new regime. Existing remittance providers have their status unchanged. Existing digital currency exchanges automatically become Virtual Asset Providers (VASPs) under the new regime. Requirement for AML/CTF policies to deal with carrying out initial customer due diligence: A reporting entity is taken to comply with the AML/CTF Amendment Act if: The reporting entity maintains AML/CTF policies that: provide for the reporting entity to carry out customer due diligence using customer identification procedures that comply with the requirements of the AML/CTF Rules as in force on 30 March 2026 for applicable customer identification procedures; and identify the classes of customer such a customer identification procedure is to be applied to, in relation to commencing to provide a designated service at or through a permanent establishment in Australia; the AML/CTF policies relating to the use of customer identification procedures for classes of customers: are appropriate for managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and are appropriate to the nature, size and complexity of the reporting entity’s business. A reporting entity is taken to comply with the AML/CTF Amendment Act if: The reporting entity maintains AML/CTF policies that: provide for the reporting entity to carry out customer due diligence using customer identification procedures that comply with the requirements of the AML/CTF Rules as in force on 30 March 2026 for applicable customer identification procedures; and identify the classes of customer such a customer identification procedure is to be applied to, in relation to commencing to provide a designated service at or through a permanent establishment in Australia; the AML/CTF policies relating to the use of customer identification procedures for classes of customers: are appropriate for managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and are appropriate to the nature, size and complexity of the reporting entity’s business. The reporting entity maintains AML/CTF policies that: provide for the reporting entity to carry out customer due diligence using customer identification procedures that comply with the requirements of the AML/CTF Rules as in force on 30 March 2026 for applicable customer identification procedures; and identify the classes of customer such a customer identification procedure is to be applied to, in relation to commencing to provide a designated service at or through a permanent establishment in Australia; provide for the reporting entity to carry out customer due diligence using customer identification procedures that comply with the requirements of the AML/CTF Rules as in force on 30 March 2026 for applicable customer identification procedures; and identify the classes of customer such a customer identification procedure is to be applied to, in relation to commencing to provide a designated service at or through a permanent establishment in Australia; the AML/CTF policies relating to the use of customer identification procedures for classes of customers: are appropriate for managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and are appropriate to the nature, size and complexity of the reporting entity’s business. are appropriate for managing and mitigating the risks of money laundering, financing of terrorism and proliferation financing that the reporting entity may reasonably face in providing its designated services; and are appropriate to the nature, size and complexity of the reporting entity’s business. Establishment of Informal Value Transfer System (IVTS) reporting obligations transfer date as 31 March 2029. Delayed application of requirement to report transfers of value involving unverified self-hosted virtual asset wallets, Section 46A of the AML/CTF Act does not apply to a reporting entity in relation to a designated service if the reporting entity commences to provide the designated service before 31 March 2029. Establishment of specific rules for VASPS: Delayed application of certain Principal Act provisions. The following provisions of the AML/CTF Act do not apply, until 1 July 2026, to a reporting entity in its capacity as an entity that provides a registrable virtual asset service: Part 1A (which deals with AML/CTF programs); Part 2 (which deals with customer due diligence); Part 3 (which deals with reporting obligations); Part 5 (which deals with obligations relating to transfers of value); Divisions 2 to 6 of Part 10 (which deal with record keeping). Registration to provide registrable virtual asset services: Section 76A of the AML/CTF Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the service is provided on or before 30 June 2026; and the person submits an application for registration under section 76D of the Principal Act no later than 29 July 2026. Section 76A of the Principal Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the person has submitted an application for registration under section 76D of the Principal Act before providing the service; and the application was submitted no later than 29 July 2026; and at the time of providing the service, the AUSTRAC CEO has not given the person written notice of a decision to register the person or to refuse to register the person. Subsection 76D(4) of the AML/CTF Act does not apply in relation to an application for registration made between 31 March 2026 and 29 July 2026. Delayed application of certain Principal Act provisions. The following provisions of the AML/CTF Act do not apply, until 1 July 2026, to a reporting entity in its capacity as an entity that provides a registrable virtual asset service: Part 1A (which deals with AML/CTF programs); Part 2 (which deals with customer due diligence); Part 3 (which deals with reporting obligations); Part 5 (which deals with obligations relating to transfers of value); Divisions 2 to 6 of Part 10 (which deal with record keeping). Part 1A (which deals with AML/CTF programs); Part 2 (which deals with customer due diligence); Part 3 (which deals with reporting obligations); Part 5 (which deals with obligations relating to transfers of value); Divisions 2 to 6 of Part 10 (which deal with record keeping). Registration to provide registrable virtual asset services: Section 76A of the AML/CTF Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the service is provided on or before 30 June 2026; and the person submits an application for registration under section 76D of the Principal Act no later than 29 July 2026. Section 76A of the Principal Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the person has submitted an application for registration under section 76D of the Principal Act before providing the service; and the application was submitted no later than 29 July 2026; and at the time of providing the service, the AUSTRAC CEO has not given the person written notice of a decision to register the person or to refuse to register the person. Subsection 76D(4) of the AML/CTF Act does not apply in relation to an application for registration made between 31 March 2026 and 29 July 2026. Section 76A of the AML/CTF Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the service is provided on or before 30 June 2026; and the person submits an application for registration under section 76D of the Principal Act no later than 29 July 2026. the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the service is provided on or before 30 June 2026; and the person submits an application for registration under section 76D of the Principal Act no later than 29 July 2026. Section 76A of the Principal Act does not apply to the provision by a person of a registrable virtual asset service if: the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the person has submitted an application for registration under section 76D of the Principal Act before providing the service; and the application was submitted no later than 29 July 2026; and at the time of providing the service, the AUSTRAC CEO has not given the person written notice of a decision to register the person or to refuse to register the person. the service is not covered by item 50A of table 1 in section 6 of the Principal Act; and the person has submitted an application for registration under section 76D of the Principal Act before providing the service; and the application was submitted no later than 29 July 2026; and at the time of providing the service, the AUSTRAC CEO has not given the person written notice of a decision to register the person or to refuse to register the person. Subsection 76D(4) of the AML/CTF Act does not apply in relation to an application for registration made between 31 March 2026 and 29 July 2026. The transitional rules came into effect on 31 March 2026 and remain in force.

On April 1, 2026, the UK’s Prudential Regulation Authority (PRA) published consultation paper (CP) 6/26 on high loan to income (LTI) lending. The consultation paper sets out proposed amendments to the PRA rulebook and Financial Conduct Authority (FCA) general guidance on the Financial Policy Committee's (FPC) recommendation to amend implementation of its loan to income (LTI) flow limit in mortgage lending. Specifically, in July, 2025 , the FPC issued a recommendation that the FCA and PRA amend implementation of its LTI flow limit to allow individual lenders to increase their share of lending at high LTIs. Following on from this, the PRA has launched this consultation. The proposals include removing the current 15 percent high LTI flow limit for individual firms from the PRA rules and FCA general guidance. However, the PRA also proposes that lenders should have additional flexibility to determine their individual high LTI lending strategies, in line with their own risk appetite and business models. The PRA is seeking feedback on its consultation by July 1, 2026, which may be sent via email to CP6_26@bankofengland.co.uk .

On April 2, 2026, the Capital Markets Authority (CMA) released its Report on the State of Corporate Governance of Issuers of Securities to the Public, demonstrating a five percentage point improvement in overall governance scores among listed companies and corporate bond issuers. The CMA's assessment methodology has evolved from a disclosure-based approach to an implementation-based approach, requiring issuers to document specific initiatives demonstrating application of CG Code provisions. The Authority identified emerging governance issues requiring proactive issuer attention, including: Cybersecurity risk governance Artificial intelligence oversight Institutional investor stewardship Minority investor protection

On April 2, 2026, the Netherlands Gambling Authority (KSA) issued a warning to Legs Eleven Limited, organiser of “Bingo Loco”, for hosting unlicensed bingo events in the Netherlands, including at venues in Rotterdam and Maastricht. The KSA also warned the venue operator Maassilo in connection with the events. The regulator determined that the events constituted games of chance that did not meet the legal conditions under which bingo may be organised without a licence. As a result, the activities were deemed unlawful. Following engagement with the KSA, the organiser and involved parties adjusted the events, converting them into a music quiz format so that they no longer fall within the scope of gambling regulation. Under Dutch law, bingo may only be organised without a licence under strict conditions, including that it is conducted by a qualifying non-profit association, proceeds are directed to a pre-declared charitable cause, and prize limits of €400 per prize and €1,550 per event are respected. Events must also be notified to the relevant municipality in advance. The KSA found that the Bingo Loco events were large-scale, commercial in nature and involved prizes, meaning they did not qualify for these exemptions. The authority reiterated that it will continue to monitor compliance and may take enforcement action, including fines or penalty payment orders, against illegal gambling offerings.

On 1 April 2026, the Commission de Surveillance du Secteur Financier (CSSF), announced its application of the European Securities and Markets Authority (ESMA) Guidelines for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation ( Regulation (EU) 2023/1114 - MiCA). The CSSF has integrated the guidelines into its administrative practices and regulatory approach. The guidelines establish consistent supervisory practices across the European System of Financial Supervision and ensure uniform application of Articles 68(5) and 81(7) of MiCA. The guidelines provide important guidance to assist crypto-asset service providers (“CASP”) in meeting their obligations to act in their clients' best interests and to assist competent authorities in adequately assessing how CASP meet these obligations. The guidelines also establish organisational requirements, including annual management body reviews of compliance policies, staff assessment procedures, and supervision protocols for staff lacking necessary qualifications or experience. The guidelines apply to all CASPs as defined in Article 3(1)(15) MiCA from July 28, 2026.

On April 1, 2026, the Icelandic government published the Regulation amending the Regulation on measures against terrorist activities . The amending regulations implement the following European acts in Norway: Council Decision (CFSP) 2025/2398 . Council Regulation (EU) 2025/2397 . In addition, the amending regulation amends Article 5 to now read: The obligation to freeze funds and economic resources without delay under this Regulation shall apply to: A person designated in the lists under this Regulation when a freezing obligation is provided for. A person designated on the basis of United Nations Security Council Resolution No. 1373 . The amending regulation enters into force immediately.

On April 1, 2026, the Dutch Authority for the Financial Markets (AFM) published its expectations for investment firms and banks using algorithmic trading and direct electronic access (DEA) providers. The expectations align with recommendations from the European Securities and Markets Authority (ESMA) supervisory briefing on algorithmic trading and establish consistent application of obligations across the European Union. The AFM has identified three key supervisory priorities: Artificial intelligence (AI) and machine learning - investment firms and banks must demonstrate a concrete understanding of risks associated with AI and machine learning, ensuring trading algorithms and strategies remain explainable, controllable, and unintentionally non-trading, with clear accountability lines. Definitions and retesting of algorithms - firms must adopt consistent definitions of what constitutes a trading algorithm and when substantial modifications occur. Direct Electronic Access (DEA) -  pre- and post-trade controls remain essential for managing market and credit risks for both DEA providers and users. The AFM will integrate ESMA's recommendations into sector supervision and has announced administrative simplifications. Firms are no longer required to include Articles 14 and 18 of Commission Delegated Regulation (EU) 2017/589 (RTS 6) in annual self-assessments, as these topics now fall under the Digital Operational Resilience Act ( Regulation (EU) 2022/2554 - DORA). Additionally, interim notifications under Articles 17(2) and 17(5) of the Markets in Financial Instruments Directive ( Directive 2014/65/EU - MiFID II) are no longer required. Investment firms and banks need only notify the AFM when commencing or terminating algorithmic trading on Dutch trading platforms and when beginning or ending DEA provision. Firms that use algorithmic trading and providers of DEA are required to conduct an annual assessment of their trading systems, algorithms, trading controls, and the associated governance framework. In the third quarter of 2026, the AFM will request validation reports from selected investment firms and banks regarding their annual self-assessments under RTS 6.

On April 1, 2026, the Reserve Bank of India (RBI) issued a comprehensive Master Direction consolidating guidelines on incentives for currency distribution and exchange, alongside penalty and penal provisions for bank branches and currency chests (CCs). The directive applies to all banks, with specific provisions for CC-holding institutions. The RBI established a financial incentive scheme to encourage banks to strengthen currency management infrastructure and customer service aligned with the Clean Note Policy. Banks operating CCs in North-Eastern regions and inaccessible areas of Jammu and Kashmir and Ladakh can claim up to 100 percent reimbursement of capital expenditure (capped at ₹50 lakh) and 50 percent of revenue costs for five years. Additional incentives include ₹2 per packet for soiled note exchanges, ₹2 per piece for mutilated note adjudication, and ₹65 per bag for coin distribution, with an additional ₹10 per bag in rural and semi-urban areas. The directive establishes penalties for service deficiencies, including ₹10,000 for branch-level exchange failures and ₹5 lakh for multiple violations. ATM cash-outs exceeding ten hours monthly attract ₹10,000 per ATM penalties. CC operational violations incur ₹5,000 to ₹10,000 penalties depending on severity and recurrence. For transaction reporting, CCs must report all movements through the CyM-CC portal by 7 pm on transaction dates. Delayed or incorrect reporting attracts penal interest at 2 percent above the prevailing bank rate. Wrong reporting of soiled note remittances or diversions incurs a flat ₹50,000 penalty. Appeals against penalties must be submitted within one month to regional directors, with limited grounds for waiver consideration. The Master Direction consolidates and withdraws three previous circulars issued between April 2025 and August 2021, effective immediately upon publication on the RBI website.

On March 30, 2026, the Hellenic Capital Market Commission (HCMC) announced that it has incorporated the European Securities and Markets Authority (ESMA) Guidelines for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation (MiCA) into its supervisory practice. The guidelines establish criteria for assessing the knowledge and competence of individuals and entities operating within crypto-asset markets under MiCA. The guidelines cover competence assessments for various roles within crypto-asset service providers and market participants, supporting HCMC's objective of protecting market integrity and investor protection in the crypto-asset sector. The HCMC has published the ESMA Guidelines on its website under the Legal Framework section,  making them accessible to regulated entities and market participants subject to the HCMC's supervision.

On April 2, 2026, the Government of Vietnam issued a decree introducing several key changes to competition enforcement penalties. It increases monetary fines for administrative violations, particularly where an enterprise has zero revenue on the relevant market in the preceding financial year, expanding to cover economic concentration cases where participating enterprises operate on different markets or at different stages of production, distribution or supply chains. The decree clarifies how to calculate total revenue for enterprises participating in economic concentration arrangements. The decree establishes new penalty frameworks for failure to notify economic concentration, with fines ranging from 500 million Vietnamese dong to 2 billion Vietnamese dong depending on enterprise size and market turnover. It also introduces penalties of 1-5 percent of relevant market revenue for violations of economic concentration conditions, alongside remedial measures including mandatory divestiture or asset sales. Penalties for providing false or incomplete information to the National Competition Commission increase to 20-50 million Vietnamese dong. The decree grants the National Competition Commission authority to revoke notifications and decisions if submitting parties provide misleading information affecting assessment outcomes. Additionally, the decree expands payment methods for fines to include direct cash payment at the State Treasury or commercial banks, and electronic transfer through the National Public Service Portal or bank payment services. The decree takes effect on May 20, 2026.

On 2 April 2026, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced expanded anti-money laundering and counter-terrorism financing (AML/CTF) laws designed to strengthen safeguards against money laundering through cryptocurrency and other virtual assets. The reforms introduce greater regulatory oversight of the virtual asset sector, which AUSTRAC has identified as a high money-laundering risk. A key change involves renaming digital currency exchange (DCE) providers to the internationally recognised term virtual asset service providers (VASPs), reflecting the expanding range of crypto-related products and services now captured under Australia's AML/CTF regime. The reforms align Australia with global standards and close known gaps that criminals have exploited. Prior to the legislative changes, AUSTRAC conducted a targeted review of the DCE register in late 2025, implementing a "Use It or Lose It" compliance blitz. This initiative engaged with 128 inactive businesses, resulting in 62 businesses exiting the sector through registration action or voluntary withdrawal. A searchable public VASP register is now publicly available, providing greater transparency and making it harder for criminals to operate through inactive or shell entities. Under the new laws, all businesses providing virtual asset services must register with AUSTRAC and comply with Australia's AML/CTF obligations. The virtual asset sector remains a priority focus for AUSTRAC, as outlined in the national risk assessment and AUSTRAC's 2025–26 regulatory priorities.

On March 30, 2026, the Danish Financial Supervisory Authority (Finanstilsynet) published an inspection report following a routine inspection of Norm Invest Fondsmæglerselskab A/S conducted in December 2025. The inspection covered the company's business model, organisation, capital adequacy, portfolio management, risk management, compliance, and conflicts of interest. Norm Invest operates an online investment platform offering automated investment services, including discretionary portfolio management and investment advisory services based on an underlying static investment model. The authority identified significant governance and compliance deficiencies. The company does not systematically or regularly report identified and relevant risks to its board of directors. Additionally, portfolio performance reporting by risk profile does not enable the board to properly evaluate performance and costs associated with individual portfolio management solutions. The authority has ordered the company to ensure comprehensive reporting to the board that enables it to monitor and evaluate relevant risks and the business model. The authority also found that the compliance function is inadequately resourced, as the compliance officer holds other substantial roles within the company. This prevents the compliance function from conducting sufficient and continuous monitoring of relevant compliance risks and from exercising adequate control over identified risk areas. Consequently, Finanstilsynet instructed the company to strengthen its compliance function.

On March 31, 2026, the French Financial Markets Authority (AMF) has published a summary of its Operational and Thematic Supervision of Practices (SPOT) inspection examining the compliance and internal control functions within asset management companies (AMCs). The AMF inspected five AMCs with different profiles in terms of size, organisation and strategy, and the summary outlines the inspection findings, the good and poor practices observed, and the regulatory framework on which the AMF based the inspections. The investigation focused on areas within the AMC’s compliance and internal control systems, including: Organisation, and human and technical resources dedicated to the compliance and internal control function - the AMF observed that all of the AMCs inspected had identified these functions, which were usually entrusted to a chief compliance and internal control officer with direct access to senior management. Control plans governing the conduct of internal control - the AMF found that there were varying levels of maturity, with some companies lacking a formalised plan that covered all material risks. Follow-up on recommendations resulting from internal controls or external audits - the AMF found that these were sometimes only partially implemented. Periodic control - the AMF expects AMCs with significant assets and complex activities under management and staff to set up an independent periodic control function. Reporting to senior management - the AMF found that senior management at all inspected AMCs receive a report at least once a year providing an overview of the recommendations issued by the internal control function. Quality of the regulatory data sent to the AMF - the AMF found shortcomings in the quality of the regulatory information recieved, particularly in annual disclosure sheets, despite senior managers of the inspected companies being involved in the process of validating these documents. Among the good practices, the AMF identified: Introducing a detailed training plan indicating the target audience and topics covered, which facilitates more effective monitoring of employee compliance skills. Asking each operational team to update the risk map so that it accurately reflects the entity's risk areas. ensuring that the Chief Compliance and Internal Control Officer participates, in decision-making bodies and management bodies, and that they are effectively present at the meetings of these bodies. Conversely, the AMF identified poor practices, such as: Not including the results of recent audits on the same topic when preparing a periodic control report. Entrusting responsibility for a key internal procedure to an external employee. Failing to include the rules and timetable for the intervention of the compliance team when a new project is created.

On April 2, 2026, the Financial Supervisory Authority (FIN-FSA) published a thematic review examining procedures concerning related party and close circle lending among credit institutions under its direct supervision. The review assessed compliance with Chapter 15, Section 13, and Chapter 5, Section 15 of the Credit Institutions Act (610/2014), as well as the European Banking Authority (EBA) Guidelines on internal governance (EBA/GL/2021/05) regarding the maintenance of related party registers, the granting of loans to related parties, and the internal control framework. The FIN-FSA identified several deficiencies across the sampled institutions. Banks' internal guidelines for related party registers and related party lending were found to be partially deficient or inconsistent, particularly concerning the management of conflicts of interest, loan-granting procedures, and documentation of processes and responsibilities. The authority noted shortcomings in verifying related party information against external sources, especially regarding the investigation of potential company affiliations of natural persons in the close circle. Related party registers are generally maintained separately from core banking systems with manual data transfers performed with delays. Risk assessments for related party loans followed standard credit risk processes without specific considerations for related party lending, such as conflicts of interest or reputational risk. Decision-making regarding related party loans was partially delegated from the board of directors to lower levels without clearly defined thresholds. Additionally, reporting to the board of directors on related party lending was found to be either insufficiently detailed or completely absent in some instances. The FIN-FSA expects supervised entities to remediate the identified deficiencies and has issued bank-specific supervision letters to address these findings. The observations will inform the authority's future supervisory targeting.

On March 30, 2026, the State Agency for Gambling and Lotteries Control (PlayCity Agency) in Ukraine issued Decision No. 86-Р imposing a financial sanction against limited liability company Bookmaker Company Favbet for violations of gambling legislation. The decision represents an enforcement action by Ukraine's gambling regulator against the operator for breaching requirements under the country's gambling laws. PlayCity Agency, as the competent authority responsible for state supervision and licensing activities in the gambling sector, utilises financial penalties as a regulatory tool to ensure compliance with applicable legislation. The specific violations committed by Bookmaker Company Favbet and the amount of the financial sanction are detailed in the decision document. This enforcement action reflects PlayCity Agency's ongoing regulatory oversight of licensed gambling operators in Ukraine. The agency maintains responsibility for licensing activities, state supervision, and regulatory engagement with industry participants and the public. The decision has been published on the agency's official website and is available for download in PDF format. **Reference:** State Agency for Gambling and Lotteries Control (PlayCity Agency), Decision No. 86-Р (March 30, 2026)

HM Revenue and Customs (HMRC) has published updated gambling duty rates applicable from the tax year 2026 to 2027 and accounting periods beginning on or after 1 April 2026. Gaming Duty rates have been restructured on a tiered basis according to gross gaming yield. For accounting periods commencing on or after 1 April 2026, the first £2,686,000 of yield is taxed at 15 percent, the next £1,852,000 at 20 percent, the next £3,243,000 at 30 percent, the next £6,845,000 at 40 percent, and the remainder at 50 percent. General Betting Duty remains at 15 percent of net stake receipts for fixed odds bets and totalisator bets on horse or dog races, 3 percent for financial spread bets, and 10 percent for all other spread bets. Lottery Duty is set at 12 percent of the price paid or payable on lottery tickets or chances. Machine Games Duty applies differentiated rates based on machine type and cost of play parameters. Type 1 machines with a maximum cost of play not exceeding 20p and maximum cash prize not exceeding £10 are taxed at 5 percent of net takings. Machines where the cost to play cannot exceed £5 are taxed at 20 percent, while machines where the maximum cost to play can exceed £5 are taxed at 25 percent. Pool Betting Duty is set at 15 percent of promoters' net pool betting receipts from dutiable pool bets. Remote Gaming Duty remains at 40 percent of remote gaming profits. These rates apply to the tax year 2026 to 2027 unless otherwise specified.

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On February 19, 2026, Kenya's Parliament published the Artificial Intelligence Bill, 2026. The bill underwent its first reading on April 2, 2026, and establishes a comprehensive regulatory framework for artificial intelligence (AI) in Kenya while creating the Office of the Artificial Intelligence Commissioner. T The bill's principal objectives include: Ensuring ethical and transparent AI use. Fostering innovation. Safeguarding human rights. Data protection. Aligning Kenya with international AI standards. The bill addresses concerns regarding AI's impact on employment, academic originality, and usage by minors. The Office of the Artificial Intelligence Commissioner will serve as an independent state office headed by a commissioner appointed by the President with parliamentary approval, following nomination by the Public Service Commission. The bill classifies AI systems by risk level: Unacceptable. Limited. Minimal risk High-risk Systems classified as high risk will require risk assessments, human rights impact assessments, transparency measures, and compliance with data protection requirements. It establishes regulatory sandboxes for safe innovation testing and mandates workforce impact assessments where AI affects employment. The bill creates an Advisory Committee on Artificial Intelligence comprising government representatives, experts in ethics and human rights, county government nominees, and civil society representatives. Penalties for violations include fines up to five million shillings or imprisonment up to two years for serious offences. The Cabinet Secretary must review the act every three years and report recommendations to Parliament. The Senate Committee must submit its report by May 2, 2026. Comments may be submitted to ictcommittee.senate@parliament.go.ke.

On April 1, 2026, the European Payments Council (EPC) launched a public consultation on proposed change requests for version 2.0 of the verification of payee (VOP) scheme rulebook . The VOP scheme rulebook was developed to support payment service providers (PSPs) in meeting new obligations under Regulation (EU) 2024/886 (Instant Payments Regulation  – IPR). Following a call for change requests from December 18, 2025, to February 15, 2026, the EPC has identified modifications for potential inclusion in version 2.0 of the rulebook. The EPC is seeking feedback on its consultation by June 30, 2026. Feedback may be submitted via email to vop@epc-cep.eu using this template .

On April 1, 2026, the European Securities and Markets Authority (ESMA) announced that it has published questions and answers (Q&As) on the onboarding of data contributors to the EU’s consolidated tapes and on the operational rules for the consolidated tape providers. In addition, ESMA reminds that trading venues and authorised publication arrangements have a legal obligation to contribute data to the consolidated tape providers from the go-live of the consolidated tapes. The Q&As may be found at this link .

On April 1, 2026, the Washington Department of Financial Institutions (DFI) entered into a consent order with RBC Capital Markets, LLC (RBC) to settle violations of the Securities Act of Washington . The order resolves a coordinated multistate investigation led by Washington into the broker-dealer's commission practices on equity transactions. According to the terms of the consent order, between May 16, 2020 and May 16, 2025, RBC charged unreasonable commissions exceeding 5 percent of the principal amount on approximately 89,900 equity transactions nationwide, totalling approximately $3.4m. In Washington specifically, RBC executed 4,109 equity transactions with unreasonable commissions totalling $160,610.84. The violations occurred because RBC maintained a minimum fixed commission of $95 for equity transactions, which resulted in commissions exceeding 5 percent on small principal trades. RBC's trade review system failed to flag transactions where the minimum commission exceeded the 5 percent guideline established under Financial Industry Regulatory Authority (FINRA) Rule 2121 Supplementary Material .01 . Additionally, RBC did not reasonably supervise these transactions to ensure customers were charged fair commissions. The consent order requires RBC to: provide restitution of at least $160,610.84 plus 6 percent annual interest to affected Washington customers within 120 days; pay an administrative fine of $25,000 within 15 days; cease the prohibited conduct; accept a censure; and update its commission schedule, trading systems, and policies to ensure commissions do not exceed 5 percent of principal amounts.

On April 1, 2026, the US Department of the Treasury issued a notice of proposed rulemaking (NPRM) seeking public comment on its implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act . The NPRM establishes broad-based principles for determining whether state-level regulatory regimes are substantially similar to the federal regulatory framework for stablecoins. Under the GENIUS Act, payment stablecoin issuers with a consolidated total outstanding issuance not exceeding $10bn may elect to operate under a state-level regulatory regime, provided it meets the Treasury's similarity criteria. The NPRM builds on an Advance Notice of Proposed Rulemaking (ANPRM) issued by the Treasury in 2025, which sought public comment on wider implementation matters relating to the GENIUS Act. Interested parties may submit comments on the NPRM until May 31, 2026 at this link .

On April 1, 2026, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) updated its publication regarding transfer-restricted crypto-assets in accordance with the Rules on Information Provision and Disclosure of Transfer-Restricted Crypto-Assets. The update reflects the JVCEA's ongoing obligation to maintain and publish information concerning crypto-assets subject to transfer restrictions. This requirement ensures transparency within Japan's crypto-asset trading market by requiring member institutions to disclose details of any digital assets that have limitations on their transferability. The disclosure framework is designed to protect market participants and maintain market integrity by ensuring that information about restricted assets is readily available to stakeholders.

On 1 April 2026, the Bank of Uganda (BoU) and the International Fund for Agricultural Development (IFAD) launched an interactive remittance dashboard providing detailed, publicly accessible data on Uganda's remittance market. The initiative addresses a significant information gap by offering transaction-based reporting from financial institutions rather than relying on migration estimates or survey data. The dashboard provides comprehensive information on remittance inflows and outflows, including transaction values and volumes, sending and receiving countries, transfer channels, termination methods, and demographic distribution across Uganda's districts. I The dashboard will be updated monthly and is accessible through RemitSCOPE.org, the IFAD and Financing Facility for Remittances platform. The dashboard was developed with technical support from IFAD through the Platform for Remittances, Investment and Migrants' Entrepreneurship in Africa (PRIME Africa) programme, co-funded by the European Union. The initiative forms part of the National Remittance Stakeholder Network, which convenes regulators, industry players and development partners to advance Uganda's remittance ecosystem.

On April 1, 2026, the US Office of Foreign Assets Control (OFAC) updated its Specially Designated Nationals (SDN) list for Venezuela. Specifically, OFAC deleted one individual from the list: Delcy Rodríguez, the Acting President of Venezuela.

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On April 1, 2026, the Bank of Korea announced the implementation of a bilateral QR code-based payment service between South Korea and Indonesia. The service enables cross-border payments using QR code technology, facilitating electronic financial transactions between the two countries. The QR code-based payment service represents an expansion of digital payment infrastructure in the region, allowing consumers and businesses in both nations to conduct transactions more efficiently. This development follows ongoing cooperation between the Bank of Korea and Bank Indonesia  to establish interconnected payment systems. The service is designed to streamline cross-border payment processes and enhance financial accessibility for users in both jurisdictions. The Electronic Finance Division of the Bank of Korea is responsible for overseeing the implementation and operation of this service.

The Bank of Thailand (BOT) has issued a set of guidelines for financial institutions establishing a comprehensive framework for financial institutions to manage risks associated with the provision of financial services to customers. The guidelines: Mandate that boards of directors approve risk management policies while senior management ensures implementation through an effective "three lines of defense" structure. Require financial institutions to align their management practices with specific customer risk levels across all products and services, incorporating factors like geography, product type, and service channels. Outline rigorous know your customer (KYC) and customer due diligence (CDD) protocols, including the mandatory use of "smart card" readers for Thai nationals and strict documentation requirements for foreign customers to prevent identity theft. Mandate the implementation of effective systems to track, detect, and investigate unusual transactions or behaviors based on both internal and official regulatory criteria. Require enhanced CDD for high-risk customers or those with suspicious activity, with an obligation to cease transactions if sufficient verification cannot be completed. Lay out customer recordkeeping obligations according to statutory timelines and requires the reporting of abnormal financial movements to the Bank of Thailand. The guidelines take effect on on April 1, 2026.

The Philippines Anti-Money Laundering Council has declared March 30-31, 2026  as a non-reporting days. These dates should thus be excluded when calculating prescribed reporting periods.

On April 1, 2026, the Reserve Bank of India (RBI) issued a comprehensive Master Direction consolidating guidelines on incentives for currency distribution and exchange, alongside penalty and penal provisions for bank branches and currency chests (CCs). The directive applies to all banks, with specific provisions for CC-holding institutions. The RBI established a financial incentive scheme to encourage banks to strengthen currency management infrastructure and customer service aligned with the Clean Note Policy. The directive establishes penalties for service deficiencies, including ₹10,000 (approximately USD 107) for branch-level exchange failures and ₹5 lakh for multiple violations. ATM cash-outs exceeding ten hours monthly attract ₹10,000 per ATM penalties. CC operational violations incur ₹5,000 to ₹10,000 penalties depending on severity and recurrence. For transaction reporting, CCs must report all movements through the CyM-CC portal by 7 pm on transaction dates. Delayed or incorrect reporting attracts penal interest at 2 percent above the prevailing bank rate. Wrong reporting of soiled note remittances or diversions incurs a flat ₹50,000 penalty. Appeals against penalties must be submitted within one month to regional directors, with limited grounds for waiver consideration. The Master Direction comes into effect immediately upon publication on the RBI website.

On April 1, 2026, the Hong Kong Monetary Authority (HKMA) issued guidance on current good practices for addressing vulnerabilities related to operational resilience. The guidance applies to all authorized institutions operating in Hong Kong's banking system. The HKMA's guidance addresses operational resilience by identifying and mitigating vulnerabilities that could impact banking institutions' ability to continue critical operations during adverse conditions.  The guidance provides authorized institutions with best practices for strengthening their operational frameworks, ensuring continuity of essential services, and managing risks that could compromise service delivery to customers and the broader financial system. It is structured to help authorized institutions assess their operational vulnerabilities, implement preventive measures, and develop robust recovery capabilities. It complements existing HKMA requirements on business continuity planning and operational risk management, providing a comprehensive approach to building institutional resilience. The HKMA has published the guidance alongside an annex containing detailed good practices for addressing operational resilience vulnerabilities. All authorized institutions should review the guidance and assess their current operational frameworks against the recommended practices. The guidance is effective immediately and institutions should implement the recommended practices as part of their ongoing operational risk management frameworks.

On April 1, 2026, the Reserve Bank of India (RBI) issueda  circular RBI/2026-27/02 providing reporting requirements and operational guidance for authorised persons under the Foreign Exchange Management (Guarantees) Regulations, 2026 (FEMA 8 (R)). The circular establishes a standardised reporting framework for guarantee-related transactions. Authorised persons must use three designated forms to report guarantee activity: Form GRN Issue for reporting guarantee issuance; Form GRN Modification for reporting changes to guarantee terms, including guarantee amount, period extension, or pre-closure. Form GRN Invocation for reporting guarantee invocation. Authorised dealer banks must submit these returns to the RBI within thirty calendar days from the end of each respective quarter through the Centralised Information Management System (CIMS). For each guarantee issuance reported via Form GRN Issue, authorised dealer banks must provide a unique Guarantee Transaction Number before submission. The circular also specifies late submission fee computation methodology: for delayed Form GRN Invocation reporting, the amount involved is the liability created towards the surety on invocation; for delayed Form GRN Issue and Form GRN Modification reporting, the amount is considered nil as these returns do not capture flows. Authorised persons are required to communicate the circular's contents to their customers and constituents. The directions are issued under sections 10(4), 11(1), and 11(2) of the Foreign Exchange Management Act, 1999 , and take effect immediately.

On April 1, 2026, India's Income-tax Act 2025 came into force, replacing the 60-year-old Income-tax Act 1961. The new act represents a comprehensive modernisation of India's direct tax structure, introducing simplified language, streamlined structure, and reader-friendly presentation while maintaining the underlying tax policy framework. The act was passed by Parliament on August 12, 2025, and received presidential assent on August 21, 2025. To implement the new act's provisions, the Central Board of Direct Taxes (CBDT) notified the Income-tax Rules 2026 on March 20, 2026, alongside new simplified and standardised forms. The restructured forms and procedures aim to simplify compliance for taxpayers and tax administrators. The new legislation introduces greater clarity and ease of compliance through its modernised framework. The act applies to all entities subject to India's direct tax regime, including individuals, businesses, and other taxable entities. The Finance Ministry has positioned the act as a significant step towards India's development agenda, marking a new chapter in the country's tax administration. All relevant rules, forms, and notifications have been made available through official gazette notifications.

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On April 1, 2026, the Central Bank of Russia (Bank of Russia) published the Final XBRL Taxonomy version 8.0, establishing standardised data requirements for supervisory, statistical, and consolidated financial reporting by non-credit financial organisations and professional financial market service providers. The taxonomy version 8.0 contains finalised requirements for reporting data across multiple financial market segments, including: stock investment funds; investment fund management companies; mutual investment funds; financial platform operators; digital financial asset issuance system operators; digital financial asset exchange operators; professional securities market participants; and instalment service operators. The taxonomy also incorporates requirements for cash flow operations reporting and annual consolidated financial reporting. The version 8.0 taxonomy is intended for familiarisation and pilot test reporting collection, with formal implementation details to be announced separately. A corrective version, taxonomy 8.1, is planned for publication with an anticipated effective date of January 1, 2027, incorporating refined control ratios and targeted adjustments. The taxonomy does not include requirements for accounting (financial) reporting of non-credit financial organisations and professional service providers, nor supervisory reporting requirements for credit history bureaus, payment acceptance operators, and self-regulatory organisations in the financial market sector. These entities will continue using earlier taxonomy versions. Supporting materials, methodological recommendations, and external reference directories (including accounting charts and operation type codes) are available on the Bank of Russia's official website.

On April 1, 2026, the Bank of Russia implemented a legal provision to reduce the maximum overpayment permitted on loans and borrowing. The maximum overpayment cap decreases from 130 percent to 100 percent of the loan amount. This regulatory change applies to new loans and borrowing with a term of no more than one year issued by banks and microfinance organisations (MFO). Under the new rules, the accrual of interest, penalties, and all other payments ceases once their combined total reaches 100 percent of the principal debt. The overpayment limitation must be displayed on the first page of the loan or borrowing agreement, preceding the table containing individual credit or borrowing terms. The Bank of Russia actively participated in developing this legislation, which aims to protect borrower interests and reduce the level of household debt in Russia. The new cap represents a significant reduction in the maximum permissible cost of borrowing for short-term loans and borrowing products, particularly affecting consumers utilising microfinance services and other non-bank lending institutions. Article 3 of the amendments come into effect on April 1, 2026 and Article 1 of the amendments comes into effect on October 1, 2026.

On 1 April 2026, Japan's Personal Information Protection Commission (PPC) released its Global Strategy, outlining a medium- to long-term international approach to personal information protection and cross-border data transfer. The strategy supports Japan's whole-of-government "Data Free Flow with Trust" (DFFT) initiative, which aims to facilitate secure and seamless international data flows while respecting diverse protection systems across jurisdictions. The strategy comprises three pillars: Pillar 1 focuses on developing an international environment for secure cross-border personal information transfer. Key actions include expanding mutual adequacy arrangements with the European Union and United Kingdom to cover academia and the public sector; promoting participation in the Global Cross-Border Privacy Rules (CBPR) Forum; establishing Global Model Contractual Clauses in cooperation with relevant countries and regions; and addressing risks such as unlimited government access to personal data. Pillar 2 strengthens cooperative relationships with like-minded countries and regions through multilateral and bilateral frameworks, including the G7 Data Protection and Privacy Authorities Roundtable, the Global Privacy Assembly (GPA), and the Asia Pacific Privacy Authorities (APPA). The PPC will pursue new Memoranda of Cooperation and support personal information protection legislation development, prioritising the Asia-Pacific region. Pillar 3 establishes mechanisms for monitoring international developments including technological innovations such as artificial intelligence and communicating the PPC's initiatives domestically and internationally through its website and social media channels. Pillar 3 establishes mechanisms for monitoring international developments including technological innovations such as artificial intelligence and communicating the PPC's initiatives domestically and internationally through its website and social media channels.

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On March 31, 2026, Italy's Financial Intelligence Unit (UIF) issued a communication addressing money laundering risks associated with subsidies and public contracts The communication aims to inform entities required to identify suspicious transactions, including public administrations, to the most significant cases identified based on the unit’s experience. The guidance addresses anomalies across four key areas: Irregularities regarding the background of the parties involved. Specific anomalies regarding the requirements for accessing the subsidy or for the award of the contract. Anomalies regarding the operations of the parties involved. Relevance of specific operational methods. The UIF emphasises the importance of information sharing between all obligated entities — public administrations, banking and financial intermediaries, and professionals — to ensure coordinated assessment of fragmented operations.

On March 31, 2026, the Bank of Italy (BoI) launched a consultation on proposed amendments to Circular No. 262 of December 22, 2005 on bank financial statements and the Bank of Italy's provision of November 17, 2022 on financial statements of international financial reporting standards (IFRS) intermediaries. The proposed amendments are intended to implement: The amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures, which are effective for financial statements beginning on or after January 1, 2026. The new international accounting standard IFRS 18 Presentation and Disclosure of Financial Statements, which will replace IAS 1 Presentation of Financial Statements effective January 1, 2027. The BoI is seeking feedback on its consultation by May 31, 2026. Feedback may be submitted via email to ram@pec.bancaditalia.it or servizio.ram.bilanci@bancaditalia.it.