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3412598 pc no date arahman European Union European Data Protection Board horizon scanning
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European Data Protection Board Publishes Template for Personal Data Breach Notification

On June 10, 2026, the European Data Protection Board (EDPB) launched a public consultation on a template for personal data breach notification. The template is designed primarily for implementation by Data Protection Authorities (DPAs) via an IT tool and incorporates rules to collect information only when necessary. The template includes predefined values and recommended tooltips to facilitate responses from organisations reporting personal data breaches. It streamlines the notification process by enabling DPAs to gather standardised information efficiently while reducing administrative burden on reporting entities. The template addresses the practical implementation of personal data breach notification requirements under the General Data Protection Regulation (GDPR), ensuring consistency across DPAs in the European Union. By standardising the format and information collection process, the template aims to improve data quality, facilitate cross-border cooperation among DPAs, and enhance the overall effectiveness of breach notification procedures. The consultation provides stakeholders—including DPAs, organisations, civil society, and other interested parties—with an opportunity to review the template's content and submit feedback on its design, functionality, and practical applicability. The public consultation period runs until August 5, 2026, at 23:59 Central European Summer Time (CEST). Following the consultation, the EDPB will review feedback received and decide on the timeline for practical implementation of the template by all DPAs across the European Union. The downloadable template is available in DOCX format on the EDPB website.

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European Data Protection Board Publishes Template for Personal Data Breach Notification

On June 10, 2026, the European Data Protection Board (EDPB) launched a public consultation on a template for personal data breach notification. The template is designed primarily for implementation by Data Protection Authorities (DPAs) via an IT tool and incorporates rules to collect information only when necessary. The template includes predefined values and recommended tooltips to facilitate responses from organisations reporting personal data breaches. It streamlines the notification process by enabling DPAs to gather standardised information efficiently while reducing administrative burden on reporting entities. The template addresses the practical implementation of personal data breach notification requirements under the General Data Protection Regulation (GDPR), ensuring consistency across DPAs in the European Union. By standardising the format and information collection process, the template aims to improve data quality, facilitate cross-border cooperation among DPAs, and enhance the overall effectiveness of breach notification procedures. The consultation provides stakeholders—including DPAs, organisations, civil society, and other interested parties—with an opportunity to review the template's content and submit feedback on its design, functionality, and practical applicability. The public consultation period runs until August 5, 2026, at 23:59 Central European Summer Time (CEST). Following the consultation, the EDPB will review feedback received and decide on the timeline for practical implementation of the template by all DPAs across the European Union. The downloadable template is available in DOCX format on the EDPB website.
3410027 pc no date arahman European Union European Data Protection Board horizon scanning
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European Data Protection Board Publishes Guidelines on Article 48 General Data Protection Regulation

On June 5, 2025, the European Data Protection Board (EDPB) published the final version of Guidelines 02/2024 on Article 48 of the General Data Protection Regulation (GDPR). The guidelines provide clarification on the requirements and procedures outlined in Article 48 GDPR, which addresses transfers of personal data to third countries and the mechanisms available to organisations seeking to legitimise such transfers. Article 48 GDPR establishes the legal framework for international data transfers, permitting transfers only where specific conditions are met. The EDPB's guidelines clarify the application of these conditions and the tools available to controllers and processors to ensure compliance when transferring personal data outside the European Union. The guidelines address binding corporate rules (BCRs), adequacy decisions, and standard contractual clauses as mechanisms for facilitating lawful transfers. The EDPB developed these guidelines following public consultation on an earlier draft version, incorporating feedback from stakeholders to ensure comprehensive coverage of practical implementation issues. The guidelines are available in multiple languages, including English, German, French, Spanish, and others, reflecting the EDPB's commitment to accessibility across EU member states. Organisations handling personal data of EU residents must review these guidelines to ensure their data transfer mechanisms comply with GDPR requirements. The guidelines are particularly relevant for multinational enterprises, international service providers, and any organisation transferring personal data across borders. Controllers and processors should assess their current transfer mechanisms against the clarifications provided and implement any necessary adjustments to maintain compliance. The EDPB continues to issue related opinions on binding corporate rules applications, as evidenced by concurrent opinions on Flutter Group and Fluor Group BCRs published in June and July 2026. REFERENCES: European Data Protection Board. Guidelines 02/2024 on Article 48 GDPR. Available at: https://www.edpb.europa.eu/our-work-tools/our-documents/guidelines/guidelines-022024-article-48-gdpr_en

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European Data Protection Board Publishes Guidelines on Article 48 General Data Protection Regulation

On June 5, 2025, the European Data Protection Board (EDPB) published the final version of Guidelines 02/2024 on Article 48 of the General Data Protection Regulation (GDPR). The guidelines provide clarification on the requirements and procedures outlined in Article 48 GDPR, which addresses transfers of personal data to third countries and the mechanisms available to organisations seeking to legitimise such transfers. Article 48 GDPR establishes the legal framework for international data transfers, permitting transfers only where specific conditions are met. The EDPB's guidelines clarify the application of these conditions and the tools available to controllers and processors to ensure compliance when transferring personal data outside the European Union. The guidelines address binding corporate rules (BCRs), adequacy decisions, and standard contractual clauses as mechanisms for facilitating lawful transfers. The EDPB developed these guidelines following public consultation on an earlier draft version, incorporating feedback from stakeholders to ensure comprehensive coverage of practical implementation issues. The guidelines are available in multiple languages, including English, German, French, Spanish, and others, reflecting the EDPB's commitment to accessibility across EU member states. Organisations handling personal data of EU residents must review these guidelines to ensure their data transfer mechanisms comply with GDPR requirements. The guidelines are particularly relevant for multinational enterprises, international service providers, and any organisation transferring personal data across borders. Controllers and processors should assess their current transfer mechanisms against the clarifications provided and implement any necessary adjustments to maintain compliance. The EDPB continues to issue related opinions on binding corporate rules applications, as evidenced by concurrent opinions on Flutter Group and Fluor Group BCRs published in June and July 2026. REFERENCES: European Data Protection Board. Guidelines 02/2024 on Article 48 GDPR. Available at: https://www.edpb.europa.eu/our-work-tools/our-documents/guidelines/guidelines-022024-article-48-gdpr_en
3406388 pc no date ataylor Canada Competition Bureau Canada horizon scanning
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Canada Imposes Sanctions on Five Iranian Officials Contributing to Strait of Hormuz Obstruction

On August 14, 2026, Global Affairs Canada announced sanctions against five Iranian individuals whose activities contribute to Iran's efforts to obstruct navigation rights in and around the Strait of Hormuz. The sanctions were imposed pursuant to the Special Economic Measures Act and the Justice for Victims of Corrupt Foreign Officials Act. The newly sanctioned individuals are: Ali Abdollahi, Commander of Khatam al-Anbiya Central Headquarters and senior Islamic Revolutionary Guard Corps (IRGC) official; Lieutenant Colonel Ebrahim Zolfaghari, Spokesperson for Khatam al-Anbiya Central Headquarters; Ebrahim Azizi, parliamentarian and head of the Iranian parliament's National Security and Foreign Policy Committee; Shahram Irani, Commander of the Islamic Republic of Iran's "Artesh" Navy; and Hamid Hosseini, Chair of the Board of Directors and Spokesperson for the Iranian Oil, Gas and Petrochemical Products Exporters Union. These additions to Schedule 1 of the Special Economic Measures (Iran) Regulations bring Canada's total sanctions to 232 individuals and 260 entities across Iran's security, intelligence and economic apparatus, with the majority imposed since 2022. The sanctions follow Iran's announcement in February 2026 to close the Strait of Hormuz and threaten strikes against vessels transiting the waterway. As of August 2026, more than 1,500 vessels remain stranded in the Persian Gulf, with approximately 6,000 seafarers trapped on board. Iran has created a new state regulatory authority to authorize passage and suggested fees may apply to transiting vessels. The measures impose a dealings prohibition, freezing any assets sanctioned persons hold in Canada and prohibiting Canadian persons and entities from making property available to them. Listed individuals are also rendered inadmissible to Canada under the Immigration and Refugee Protection Act.

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Government of Canada Imposes Sanctions on Iranian Officials Under Special Economic Measures Act

On August 14, 2026, the announced that Canada is imposing additional sanctions against five Iranian individuals under the Special Economic Measures (Iran) Regulations for their involvement in activities related to conflict in Iran. The sanctions target senior officials of the Islamic Republic of Iran, including members of the Islamic Revolutionary Guard Corps (IRGC), for actions impacting a critical international waterway and obstructing navigation rights in and around the Strait of Hormuz. The measures impose a dealings prohibition, effectively freezing any assets that sanctioned persons may hold in Canada and prohibiting persons in Canada and Canadians abroad from making property available to sanctioned persons. Listed individuals are also rendered inadmissible to Canada under the Immigration and Refugee Protection Act . With these latest measures, Canada has now sanctioned a total of 232 Iranian individuals and 260 Iranian entities through the Special Economic Measures (Iran) Regulations.
3394080 pc no date msolomon Ukraine Regulatory Documents financial services
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Ukraine's National Bank Issues Amendment to February 2022 Regulatory Resolution

On August 10, 2026, the National Bank of Ukraine (NBU) Board issued Resolution No. 90, amending Resolution No. 18 adopted on February 24, 2022. The resolution modifies the existing regulatory framework established by the February 2022 resolution. The NBU Board, which serves as the central decision-making authority for Ukraine's monetary and banking regulatory policy, adopted this amendment to update provisions within the earlier resolution. The specific substantive changes introduced by Resolution No. 90 are contained within the full text of the document. The resolution became effective on August 10, 2026. The NBU has made the resolution available in multiple formats, including PDF and DOCX versions, to facilitate access for regulated entities and stakeholders subject to the amended regulatory requirements. REFERENCES: National Bank of Ukraine Board Resolution No. 90 (August 10, 2026)

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Ukraine's National Bank Issues Amendment to February 2022 Regulatory Resolution

On August 10, 2026, the National Bank of Ukraine (NBU) Board issued Resolution No. 90, amending Resolution No. 18 adopted on February 24, 2022. The resolution modifies the existing regulatory framework established by the February 2022 resolution. The NBU Board, which serves as the central decision-making authority for Ukraine's monetary and banking regulatory policy, adopted this amendment to update provisions within the earlier resolution. The specific substantive changes introduced by Resolution No. 90 are contained within the full text of the document. The resolution became effective on August 10, 2026. The NBU has made the resolution available in multiple formats, including PDF and DOCX versions, to facilitate access for regulated entities and stakeholders subject to the amended regulatory requirements. REFERENCES: National Bank of Ukraine Board Resolution No. 90 (August 10, 2026)
3393500 pc no date ataylor US Track 1 Federal Deposit Insurance Corporation financial services
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Federal Deposit Insurance Corporation Implements Two-Phase Approach for Processing Deposit Insurance Applications

On August 10, 2026, the Federal Deposit Insurance Corporation (FDIC) announced revised procedures for processing federal deposit insurance (FDI) applications, effective for all applications received after August 15, 2026. The FDIC introduced a two-phase approach designed to expedite the application process while maintaining rigorous review standards for proposed insured depository institutions. Under Phase 1, which spans 120 days from receipt of an FDI application, the FDIC will issue a contingent authorization to applicants that satisfy relevant requirements. Phase 2 follows immediately and spans up to 12 months, during which organizers complete necessary organizational steps and the FDIC issues final approval, including issuance of an FDI Order. The FDIC may complete Phase 2 more quickly depending on the facts and circumstances of each application. When applicants notify the FDIC that the institution is ready to open, the FDIC will affirm that all pre-opening conditions have been met. The revised procedures aim to promote the vitality of the banking industry and meet community credit and financial services needs. The FDIC welcomes applications from all types of proposed insured depository institutions presenting viable business plans consistent with favorable resolution of statutory factors enumerated in Section 6 of the Federal Deposit Insurance Act. The FDIC will coordinate with chartering authorities throughout the application process to promote efficiency, avoid duplication, and ensure timely action. Applicants may generally file applications concurrently with both the FDIC and the relevant chartering authority. The FDIC staff remains available to meet with organizers and answer questions at any stage of the process.

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US Federal Deposit Insurance Corporation Implements Two-Phase Approach for Processing Deposit Insurance Applications

On August 10, 2026, the Federal Deposit Insurance Corporation (FDIC) announced revised procedures for processing federal deposit insurance (FDI) applications, implementing a new two-phase approach to promote timely processing and reduce regulatory burden on de novo applicants. According to the FDIC press release , the reforms aim to help promote the strength of the banking industry and meet the credit, deposit, and other financial services needs of communities across the United States. The two-phase approach will apply to all FDI applications received after August 15, 2026. Key features of the two-phase approach include: Phase 1- Contingent Authorization: The FDIC will issue a contingent authorization letter within 120 days of receiving a complete FDI application. Applicants must submit a comprehensive business plan, three-year financial projections, ownership structure, capital raise details, biographical and financial reports for proposed directors and officers, copies of related applications to other regulatory agencies, a description of any planned business relationships involving the institution and its parent company, affiliates, or insiders, and a list of functions/services to be outsourced versus performed internally. Phase 2- Final Approval: Following contingent authorization, the FDIC will issue final approval within 12 months. Organizers must complete all organizational steps, including finalizing board and senior executive appointments, employment agreements, compensation plans, capital raise, organizational documents, third-party vendor agreements, and risk management and compliance policies. FDIC staff performs additional background checks and completes prior checks. Final approval and pre-opening conditions: FDIC staff will meet with organizers to discuss remaining pre-opening conditions (including prior notification of the planned opening date), seek the applicant's written agreement to proposed conditions for the FDI Order, and issue a transmittal letter communicating final disposition, including an Order and Statement. Concurrent filing and coordination: Applicants may file concurrently with the FDIC and chartering authority. The FDIC will coordinate with the chartering authority throughout the process to promote efficiency and avoid duplication. Pre-opening examination: Within 6 months from approval, a pre-opening examination will be completed 30 days before the institution's proposed opening, followed by issuance of a deposit insurance certificate. The FDIC noted that it welcomes applications from all types of proposed insured depository institutions that can present a viable business plan consistent with favorable resolution of the statutory factors under Section 6 of the Federal Deposit Insurance Act. The revised procedures apply to all FDI applications received after August 15, 2026.
3400227 pc no date rghosh US Track 3 Enforcement Actions - Commodity Futures Trading Commission (CFTC) financial services
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Commodity Futures Trading Commission Charges Goliath Ventures and Chief Executive with $400 Million Fraud Scheme

On August 11, 2026, the Commodity Futures Trading Commission (CFTC) filed a complaint in the U.S. District Court for the Middle District of Florida against Goliath Ventures Inc. and its chief executive, Christopher Delgado, a Florida resident. The CFTC alleges the defendants operated a Ponzi scheme by fraudulently soliciting and accepting funds from the public for crypto-asset trading, including bitcoin and ether. According to the complaint, the defendants misappropriated all customer funds despite representing that they would trade these assets. The scheme involved paying fictitious profits to existing customers, funding Delgado's personal lifestyle, and falsely guaranteeing the return of principal investments and profits. The defendants also issued false account statements reflecting nonexistent profits. Approximately 1,600 customers contributed at least $397 million to the fraud. The CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations. This enforcement action is part of a coordinated multi-agency response. In June 2026, Delgado pleaded guilty to federal criminal charges brought by the U.S. Attorney's Office for the Middle District of Florida. On the same day as the CFTC's action, the Securities and Exchange Commission (SEC) filed a parallel civil action against Delgado and Goliath for their roles in the fraud. The CFTC coordinated with both the U.S. Attorney's Office and the SEC on this matter. REFERENCES: Commodity Futures Trading Commission. "CFTC Charges Goliath Ventures Inc. and CEO with $400 Million Fraud Scheme." Press Release 9280-26, August 11, 2026. Available at: https://www.cftc.gov/PressRoom/PressReleases/9280-26

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US Commodity Futures Trading Commission Charges Goliath Ventures with $400 Million Fraud Scheme

On August 11, 2026, the Commodity Futures Trading Commission (CFTC) filed a complaint in the U.S. District Court for the Middle District of Florida against Goliath Ventures Inc. and its chief executive. The CFTC alleges the defendants operated a Ponzi scheme by fraudulently soliciting and accepting funds from the public for crypto-asset trading, including bitcoin and ether. According to the complaint, the defendants misappropriated all customer funds despite representing that they would trade these assets. The scheme involved paying fictitious profits to existing customers and falsely guaranteeing the return of principal investments and profits. The defendants also issued false account statements reflecting nonexistent profits. Approximately 1,600 customers contributed at least $397 million to the fraud. The CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations. This enforcement action is part of a coordinated multi-agency response.
3395170 pc no date pthandapani Australia Australian Securities and Investments Comission horizon scanning
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Australian Securities and Investments Commission Proposes Extension of Eight Financial Services Legislative Instruments

On August 11, 2026, the Australian Securities and Investments Commission (ASIC) released a consultation seeking feedback on its proposal to extend the operation of eight legislative instruments currently scheduled to self-repeal in 2027. ASIC assessed that each instrument operates effectively and efficiently and continues to form a necessary and useful part of the legislative framework. The regulator proposes to amend only the self-repeal date for each instrument, allowing them to continue operating until their aligned sunsetting dates. The eight instruments proposed for extension address various aspects of financial services regulation. These include ASIC Market Integrity Rules (Futures Markets) Class Waiver 2018/313, which addresses technical limitations in the ASX 24 New Trading Platform; ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301, which exempts authorised representatives from notifying ASIC of sub-authorisations for claims handling services; and ASIC Corporations (Cash Settlement Fact Sheet and Confirming Transactions) Instrument 2022/809, which provides conditional relief where cash settlement disclosures would pose risks of family violence. Additional instruments cover financial requirements for over-the-counter derivatives issuers, employer-sponsored superannuation notices, product disclosure statements, financial services guides, and employee share schemes. The proposed new expiry dates range from October 1, 2028 to April 1, 2033, depending on the instrument. ASIC confirmed that no substantive amendments to these instruments are necessary beyond extending their operation dates. The consultation period closes on September 8, 2026 at 5:00pm Australian Eastern Standard Time. Stakeholders should submit feedback to rri.consultation@asic.gov.au. ASIC will consider the regulatory impact of the proposal under the Australian Government Impact Analysis Framework before finalising its position.

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Australian Securities and Investments Commission Proposes Extension of Eight Financial Services Legislative Instruments

On August 11, 2026, the Australian Securities and Investments Commission (ASIC) opened a consultation on extending eight financial services, credit and markets legislative instruments that are currently scheduled to self-repeal in 2027. ASIC considers that the instruments continue to operate effectively and form a necessary part of the regulatory framework. It therefore proposes to amend only their self-repeal dates, without changing their substantive provisions. The proposed extensions cover: ASIC Instrument 2018/313 , which conditionally exempts futures-market participants from requirements to enter aggregate loss limits that the ASX 24 trading platform cannot technically accommodate. ASIC Instrument 2022/301 , which exempts authorised representatives from notifying ASIC when employees are sub-authorised to provide claims-handling and settlement services relating to general or consumer credit insurance. ASIC Instrument 2022/809 , which provides conditional relief from providing a Cash Settlement Fact Sheet or transaction confirmation where doing so could expose a person experiencing family violence to unacceptable risk. ASIC Instrument 2022/705 , which requires issuers of over-the-counter derivatives to retail clients to maintain sufficient financial resources to cover anticipated expenses and unexpected operating losses. ASIC Instrument 2022/496 , which reduces duplication arising from substantially similar Product Disclosure Statements for employer-sponsored superannuation products and permits members to be directed to online product dashboards. ASIC Instrument 2022/497 , which permits issuers of certain complex products to provide a full rather than shorter Product Disclosure Statement and gives superannuation trustees and platform operators greater flexibility when delivering product disclosures. ASIC Instrument 2022/910 , which exempts certain authorised representatives handling claims for general or bundled consumer credit insurance from providing a Financial Services Guide. ASIC Instrument 2022/1021 , which provides relief supporting the operation of the employee share scheme regime under the Corporations Act. ASIC Instrument 2018/313 would be extended until October 1, 2028. ASIC Instruments 2022/301, 2022/809, 2022/705, 2022/496 and 2022/497 would be extended until October 1, 2032, while ASIC Instruments 2022/910 and 2022/1021 would be extended until April 1, 2033. These extensions would preserve the instruments’ existing requirements and exemptions without substantive amendment. Comments should be submitted to rri.consultation@asic.gov.au by 5:00 p.m. Australian Eastern Standard Time on September 8, 2026.
3395530 pc no date pthandapani Australia Australian Prudential Regulation Authority horizon scanning
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Australian Prudential Regulation Authority Clarifies Points of Presence Reporting for Co-Located Banking Channels

The Australian Prudential Regulation Authority (APRA) published guidance clarifying its expectations for reporting points of presence under Reporting Standard ARS 796.0 points of presence (ARS 796), with emphasis on co-located face-to-face service channels operated by Authorised Deposit-taking Institutions (ADIs). APRA's points of presence reporting framework aims to ensure consistent and accurate representation of physical banking service channels provided across Australia. As ADIs increasingly operate multiple face-to-face service channels within shared premises, APRA issued specific guidance to support consistent and reliable reporting across the industry. The reporting standard focuses on physical presence and service channels provided, rather than location alone. For non-co-located face-to-face service channels, APRA expects separate reporting where channels are located in different geographic locations, or where multiple channels operate within the same geographic location but are not co-located. This includes circumstances where service channels operate within the same building on different floors with separate customer entrances; each is considered a distinct point of presence and should be reported separately. For co-located face-to-face service channels, APRA expects multiple points of presence within the same geographic location to be reported as a single point of presence. If a branch is co-located with one or more other face-to-face service channels, the point of presence should be reported as a branch. If more than one other face-to-face service channel is co-located, ADIs should report a single "other face-to-face" point of presence. APRA expects ADIs to apply this guidance consistently and review existing reporting practices to ensure alignment with these expectations and maintain accuracy and comparability of data across the industry.

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Australian Prudential Regulation Authority Clarifies Points of Presence Reporting for Co-Located Banking Channels

On July 8, 2026, the Australian Prudential Regulation Authority (APRA) published guidance clarifying how authorised deposit-taking institutions should report physical banking service channels under Reporting Standard ARS 796.0 Points of Presence . According to the guidance face-to-face service channels must be reported separately where they operate at different geographical locations or are not co-located, including where they occupy different floors of the same building and have separate customer entrances. Multiple channels that are co-located must be reported as a single point of presence. Where one of those channels is a branch, the location must be reported as a branch; otherwise, it must be reported as a single “other face-to-face” point of presence. Authorised deposit-taking institutions should review their existing reporting practices and make any necessary adjustments to ensure that their data is accurate, consistent and comparable across the industry. The guidance clarifies the application of an existing reporting standard and does not establish a new reporting regime.
3397961 pc no date ggallwey Kenya CMA - News & Press Releases financial services
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Kenya's Capital Markets Authority Approves Innovative Banking Index Exchange Traded Fund

On August 11, 2026, the Capital Markets Authority (CMA) approved the listing of the WSA Banking Index Exchange Traded Fund (ETF) on the Nairobi Securities Exchange (NSE). The CMA Board granted approval in line with the Capital Markets Policy Guidance Note on Exchange Traded Funds, 2015. This approval brings the total number of ETFs listed on the NSE to three. The WSA Banking Index ETF is the first locally-domiciled ETF and is issued by Wallstreet Africa Group Limited in partnership with Tradiam Asset Managers Limited, which serves as the Fund Manager. The ETF provides investors with exposure to a diversified portfolio of listed banking sector equities and seeks to replicate the performance of the NSE Banking Index by investing in constituent banking sector shares. The underlying index comprises 11 listed banks: Equity Group, KCB Group, Co-operative Bank, Absa Bank Kenya, NCBA Group, Standard Chartered Bank Kenya, Stanbic Holdings, I&M Group, Diamond Trust Bank, HF Group, and BK Group. The ETF is structured as an open-ended scheme with units listed and traded on the NSE. Denominated in Kenya Shillings, the ETF eliminates foreign exchange risk exposure for investors. The value of ETF units will fluctuate based on changes in the market value of underlying banking sector shares and factors including equity market volatility, interest rate movements, changes in constituent bank operating performance, regulatory developments, and macroeconomic conditions. CMA Chief Executive Wyckliffe Shamiah said the ETF rollout aligns with the Authority's ambition to facilitate innovative capital market products, addressing growing investor demand for diversified investment options and deepening the capital markets through an expanded scope of products. Secondary market liquidity will be supported by appointed Market Makers or Authorised Participants, who facilitate ETF unit creation and redemption while maintaining orderly trading.

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CMA APPROVES INNOVATIVE EXCHANGE TRADED FUND TO DIVERSIFY AND DEEPEN THE CAPITAL MARKETS

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3392670 pc no date rghosh Colombia Ministry of Finance and Public Credit horizon scanning
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Ministry of Finance Decrees 2025: financial regulations - Minhacienda

I appreciate your detailed instructions, but I must note that the source material provided does not contain substantive regulatory content. The webpage excerpt consists entirely of metadata, document management information, and navigation elements from Colombia's Ministry of Finance and Public Credit (Ministerio de Hacienda y Crédito Público) website. The only identifiable regulatory document referenced is: **DECRETO No. 1013 DEL 5 DE AGOSTO DE 2026** (Decree No. 1013 of August 5, 2026) However, the source material does not include the actual text, content, or substantive details of this decree. The excerpt shows only: - File metadata (creation date August 5, 2026; modification date August 10, 2026) - Document properties (PDF format, 10.6 MB) - Administrative information (created by Fabio Cardozo) - Navigation menu structure **To generate a compliant Horizon Scanning update, I would require:** - The actual text or summary of Decree No. 1013's substantive provisions - Details of what the decree regulates or amends - The effective date and scope of application - Any specific regulatory changes or requirements it introduces Without this information, I cannot produce a factual update meeting the 200-250 word requirement and content standards outlined in your guidelines. I can only confirm that Colombia's Ministry of Finance and Public Credit issued Decree No. 1013 on August 5, 2026, but cannot determine its regulatory significance or impact. Please provide the decree's substantive content or a summary document to enable update generation.
3393065 pc no date msolomon Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank of Ukraine Implements Comprehensive Foreign Exchange Restrictions Relaxation Package

On August 10, 2026, the National Bank of Ukraine (NBU) implemented a significant package of foreign exchange (FX) restrictions relaxation measures, effective August 11, 2026. The package prioritises support for individuals while introducing important changes for legal entities and the financial sector. The NBU assessed that these relaxations will not create risks to FX market stability, given established preconditions and careful analysis of each measure. The relaxation is incorporated into the NBU's updated macroeconomic forecast, which projects international reserves reaching nearly $70 billion by the end of 2026. For individuals, the NBU increased the monthly limit for purchasing non-cash foreign currency from 50,000 hryvnia to 200,000 hryvnia, expanding available operations to include non-cash banking metals and foreign securities. Daily cash withdrawal limits from foreign currency accounts increased from 100,000 hryvnia to 200,000 hryvnia. The monthly limit for payments abroad using hryvnia accounts increased from 100,000 hryvnia to 200,000 hryvnia equivalent, now including rental payments and transfers via SWIFT. A separate 200,000 hryvnia monthly limit applies to foreign payments via account transfers. The existing 500,000 hryvnia monthly limit for accommodation payments expanded to include rental payments via card or transfer. For legal entities, daily cash withdrawal limits from hryvnia accounts increased to 200,000 hryvnia, while corporate card limits abroad increased to 140,000 hryvnia monthly. Limits for goods and services payments abroad using hryvnia corporate cards increased to 400,000 hryvnia monthly. The NBU introduced an "additional limit" for direct charitable contributions to Ukrainian armed forces, complementing the existing "donation limit." Exporters may now pay penalties, bonuses, and damages to foreign counterparties, capped at 10 percent of annual export contract values. For the financial sector, the Motor Insurance Bureau of Ukraine may now purchase foreign currency for centralised insurance reserve funds. Banks may gradually include previously excluded reserves in FX position calculations, effective September 1, 2026. Banks may return investor capital instruments rejected by the NBU to non-resident investors. The NBU adopted these measures via Board Resolution 90 (August 10, 2026) and Board Decision 239 (August 10, 2026).

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NBU implements a monetary easing package with main focus on supporting the population

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3386990 pc no date pthandapani Hong Kong Hong Kong Monetary Authority financial services
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HKMA Liquidity Facilities Framework

I appreciate you providing the detailed instructions and style guide, but I must note that the source material you've provided appears to be metadata and repository information from the Hong Kong Monetary Authority (HKMA) website rather than substantive regulatory content. The material shows: - A document repository index page - Document titles and version history (HKMA Liquidity Facilities Framework, dated August 7, 2026) - Navigation categories and topic tags - No actual regulatory content, guidance text, or substantive policy details **To generate a meaningful Horizon Scanning update, I would need:** 1. The actual content of the regulatory document or announcement (not just the metadata/index page) 2. Details about what has changed in the framework 3. Key policy provisions, requirements, or operational changes 4. Effective dates and implementation timelines 5. Who the requirements apply to and why they matter **What I can confirm from the metadata:** - Jurisdiction: Hong Kong - Authority: Hong Kong Monetary Authority (HKMA) - Document: HKMA Liquidity Facilities Framework - Issue Date: August 7, 2026 - Topic: Liquidity Risk Management - Applies to: All Authorized Institutions If you can provide the actual regulatory document, guidance, or announcement text, I will generate a complete Horizon Scanning update following all the specifications and style guidelines you've outlined.
3374954 pc no date kgurnani Australia Federal Register of Legislation horizon scanning
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Australia's Australian Securities and Investments Commission Updates Financial Requirements for Custodial Service Providers

On July 7, 2026, the Australian Securities and Investments Commission (ASIC) updated financial requirements for custodial and depository service providers through the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648. The instrument, administered by the Department of the Treasury, operates under the authority of the Corporations Act 2001. The instrument establishes financial standards that custodial and depository service providers must maintain to operate in Australia. These requirements form part of ASIC's regulatory framework designed to protect investors and ensure the financial stability of entities holding client assets. Custodial and depository service providers play a critical role in Australia's financial system by safeguarding securities, cash, and other assets on behalf of clients. By setting clear financial requirements, ASIC aims to mitigate risks associated with provider insolvency and ensure these entities maintain sufficient capital and liquidity to meet their obligations. The updated instrument applies to all Australian Financial Services Licensees (AFSL) and Australian Market Licence (AML) holders providing custodial or depository services. Compliance with the financial requirements is mandatory for all in-scope service providers. The instrument came into force on July 7, 2026. Service providers should review the updated requirements and ensure their financial arrangements comply with the new standards. The full text of the instrument is available on the Federal Register of Legislation website in both Word and PDF formats. REFERENCE: Federal Register of Legislation: ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648

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Australia's Australian Securities and Investments Commission Updates Financial Requirements for Custodial Service Providers

On July 7, 2026, the Australian Securities and Investments Commission (ASIC) updated financial requirements for custodial and depository service providers through the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648. The instrument, administered by the Department of the Treasury, operates under the authority of the Corporations Act 2001. The instrument establishes financial standards that custodial and depository service providers must maintain to operate in Australia. These requirements form part of ASIC's regulatory framework designed to protect investors and ensure the financial stability of entities holding client assets. Custodial and depository service providers play a critical role in Australia's financial system by safeguarding securities, cash, and other assets on behalf of clients. By setting clear financial requirements, ASIC aims to mitigate risks associated with provider insolvency and ensure these entities maintain sufficient capital and liquidity to meet their obligations. The updated instrument applies to all Australian Financial Services Licensees (AFSL) and Australian Market Licence (AML) holders providing custodial or depository services. Compliance with the financial requirements is mandatory for all in-scope service providers. The instrument came into force on July 7, 2026. Service providers should review the updated requirements and ensure their financial arrangements comply with the new standards. The full text of the instrument is available on the Federal Register of Legislation website in both Word and PDF formats. REFERENCE: Federal Register of Legislation: ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648
3376888 pc no date msolomon Ukraine All News - NBU financial services
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Proposed changes regarding the regulation of non-cash payments and the withdrawal of funds by banks to deposit (deposit) accounts

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3377267 pc no date ggallwey Japan Financial Services Agency financial services
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Japan's Financial Services Agency Publishes Report on Deposit-Taking Financial Institutions Monitoring

On July 31, 2026, the Financial Services Agency (FSA) published a "Report on the Monitoring and Analysis of Deposit-Taking Financial Institutions." The report summarises the FSA's prudential supervisory activities of deposit-taking financial institutions during Business Year 2025 (July 2025 to June 2026). The report addresses seven key areas of supervisory focus. These include trends in deposits following Japan's policy interest rate increase; trends in real estate-related loans amid rising real estate valuations; securities investment activities at deposit-taking financial institutions; loans to and investment in overseas funds, which major banks have increasingly emphasised; the FSA's off-site and on-site supervision of governance and internal controls; implementation of Basel III in Japan; and the FSA's initiatives on data analysis and new technology adoption. The report reflects the FSA's comprehensive approach to monitoring systemic risks and institutional compliance within Japan's deposit-taking sector, covering both macroeconomic trends and microeconomic supervisory oversight. The FSA has made an English translation of the executive summary available to international stakeholders. The full report remains available in Japanese. For further information, stakeholders can contact the Macro-financial Stability and Data Strategy Office, Risk Analysis Division, Strategy Development and Management Bureau, at the FSA's main office telephone line (+81-(0)3-3506-6000, extension 3676).

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Japan's Financial Services Agency Publishes Report on Deposit-Taking Financial Institutions Monitoring

On July 31, 2026, Japan’s Financial Services Agency (FSA) published its Report on the Monitoring and Analysis of Deposit-Taking Financial Institutions. The report presents selected aspects of the FSA’s prudential supervisory activities during Business Year 2025, covering July 2025 to June 2026. The FSA notes that it is not a comprehensive account of its supervision or a checklist for inspections. The report examines deposit trends following Japan’s transition to positive interest rates. As changes in deposit and lending rates affect banks’ earnings and balance sheets, institutions are expected to strengthen asset-liability management across deposits, loans and securities. It also addresses real estate lending, including rising housing-loan amounts and the growth of ultra-long mortgages and “pair loans”. Banks should explain repayment risks to borrowers, conduct appropriate loan screening, and maintain robust credit-risk controls. The report also highlights growing unrealised losses on securities investments, particularly at regional institutions, and expects boards to establish and monitor appropriate loss limits. For loans to and investments in overseas funds, the FSA notes that institutions should improve group-wide oversight, data on fund sponsors and underlying assets, and stress testing of connections with non-bank financial institutions. The report further covers internal audit and governance weaknesses and the implementation of Basel III across all deposit-taking institutions. Finally, it describes the FSA’s use of data analysis and artificial intelligence to strengthen risk-based supervision. The report is informative and does not introduce new binding requirements, deadlines or penalties.
3377307 pc no date csoo France Autorité des Marchés Financiers financial services
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France's Financial Markets Authority Updates Crypto-Assets Advice Doctrine for Investment Advisers

On August 4, 2026, the Autorité des Marchés Financiers (AMF) updated its doctrine regarding the provision of advice on crypto-assets by financial investment advisers (FIAs) following the entry into application of the Markets in Crypto-assets Regulation (MiCA) and the end of its transitional period. Under MiCA, the provision of advice on crypto-assets is now subject to mandatory authorisation at the European level as a crypto-asset services provider (CASP). This represents a significant change from the previous regime, where FIAs could provide advice on digital assets either with optional approval as a digital asset services provider (DASP) or without such approval under general wealth management advice activities. The scope of advice on crypto-assets under MiCA is broader than investment advice under the Markets in Financial Instruments Directive (MiFID II), as it encompasses not only transactions in crypto-assets but also advice on the use of crypto-asset services. The AMF clarified that FIAs are not eligible for the notification procedure available to certain already-authorised entities, such as investment services providers. To address questions from FIAs, the AMF added a new question-and-answer section to its Position-Recommendation DOC-2006-23, which supplements guidance from the European Securities and Markets Authority (ESMA). The update provides non-exhaustive examples of situations in which FIAs do or do not require CASP status. Notably, FIAs do not need CASP authorisation when disseminating non-personalised information about crypto-assets or crypto-asset services to the public, or when providing advice on financial instruments with crypto-asset underlying assets, such as alternative investment funds or crypto-asset-linked debt securities. The AMF Position-Recommendation DOC-2006-23 is available on the AMF website.

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France's Financial Markets Authority Updates Crypto-Assets Advice Doctrine for Investment Advisers

On August 4, 2026, the Autorité des Marchés Financiers (AMF) updated its doctrine regarding the provision of advice on crypto-assets by financial investment advisers (FIAs) following the entry into application of the Markets in Crypto-assets Regulation (MiCA) and the end of its transitional period. Under MiCA, the provision of advice on crypto-assets is now subject to mandatory authorisation at the European level as a crypto-asset services provider (CASP). This represents a significant change from the previous regime, where FIAs could provide advice on digital assets either with optional approval as a digital asset services provider (DASP) or without such approval under general wealth management advice activities. The scope of advice on crypto-assets under MiCA is broader than investment advice under the Markets in Financial Instruments Directive (MiFID II), as it encompasses not only transactions in crypto-assets but also advice on the use of crypto-asset services. The AMF clarified that FIAs are not eligible for the notification procedure available to certain already-authorised entities, such as investment services providers. To address questions from FIAs, the AMF added a new question-and-answer section to its Position-Recommendation DOC-2006-23, which supplements guidance from the European Securities and Markets Authority (ESMA). The update provides non-exhaustive examples of situations in which FIAs do or do not require CASP status. Notably, FIAs do not need CASP authorisation when disseminating non-personalised information about crypto-assets or crypto-asset services to the public, or when providing advice on financial instruments with crypto-asset underlying assets, such as alternative investment funds or crypto-asset-linked debt securities. The AMF Position-Recommendation DOC-2006-23 is available on the AMF website.
3377305 pc no date ggallwey South Africa Government of South Africa financial services
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South Africa's Financial Intelligence Centre Publishes Consultation Note on Draft Directive 12 for Risk Management Programmes

The Government of South Africa released a consultation note regarding draft Directive 12 under the Financial Intelligence Centre Act (FICA). The directive addresses the submission of risk management and compliance programmes by regulated entities operating within South Africa's financial services sector. Directive 12 establishes requirements for financial institutions and other FICA-regulated entities to develop, implement, and submit comprehensive risk management and compliance programmes. These programmes are designed to strengthen the regulatory framework governing anti-money laundering and counter-terrorism financing (AML/CTF) compliance across South Africa's financial system. The directive sets out the standards and procedures that entities must follow when establishing internal controls, governance structures, and compliance mechanisms to identify, assess, and mitigate financial crime risks. The consultation note invites stakeholders—including banks, money transmitters, casino operators, and other regulated financial service providers—to submit comments and feedback on the proposed directive. This engagement process allows industry participants to raise concerns, suggest amendments, and provide input on the practical implementation of the requirements before the directive is finalised. The consultation represents a key step in South Africa's ongoing efforts to strengthen its AML/CTF regime and ensure compliance with international standards established by the Financial Action Task Force (FATF). Stakeholders wishing to participate in the consultation should review the draft directive and submit their responses in accordance with the timelines and procedures outlined in the consultation note. The final directive will incorporate feedback received during this consultation period before coming into effect. REFERENCES: South African Government. "Financial Intelligence Centre Act: Consultation note to draft Directive 12 on the submission of risk management and compliance programmes." Government Gazette. Available at: https://www.gov.za/

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South Africa's Financial Intelligence Centre Publishes Consultation on Draft Directive 12 for Risk Management Programmes

On July 31, 2026, South Africa’s Financial Intelligence Centre (FIC) published a consultation on draft Directive 12, which would require specified accountable institutions to submit copies of their risk management and compliance programme (RMCP) documentation to the FIC annually. For financial services and payments firms, the proposal is relevant to non-bank credit providers and cryptoasset service providers. With the exception of the South African Postbank, banks as credit providers are expressly excluded. Under the proposal, affected institutions would have to submit a copy of the documentation describing their RMCP through the FIC’s registration and reporting platform . The submissions would allow the FIC to monitor institutions’ overall compliance with their obligations under the FIC Act. Newly established affected institutions would have to submit their RMCP documentation within 90 days of commencing business. Institutions that update and approve their RMCP after the applicable annual deadline would have to submit the revised documentation within ten business days of approval. The South African Postbank and cryptoasset service providers would have an initial deadline of October 31, 2026. The proposal does not create the underlying obligation to develop and implement an RMCP, which already exists under the Financial Intelligence Centre Act. Instead, it would introduce a recurring submission requirement intended to help the FIC assess compliance with anti-money laundering and counter-terrorist financing obligations. Failure to comply with the final Directive could result in administrative sanctions. Comments are due by August 21, 2026 and can be submitted via the online consultation form .
3373187 pc no date msolomon Lithuania Seimas of the Republic of Lithuania horizon scanning
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Lithuania's Seimas Advances Amendments to Financial Instruments Market Law

On August 3, 2026, the Seimas of the Republic of Lithuania registered amendments to the Financial Instruments Market Law (Law No. X-1024) for consideration by the government. The amendments modify Articles 15-2, 15-4, 16, and 102 of the law, as well as its annex. The Ministry of Finance of the Republic of Lithuania prepared the draft amendments, with Ieva Vaštakaitė serving as the primary contact. The amendments underwent a public consultation and coordination process between April 27 and May 12, 2026, during which multiple stakeholders reviewed and approved the proposals. Coordinating institutions included the Ministry of Justice, the Ministry of Economy and Innovation, the Bank of Lithuania, the Audit, Accounting, Asset Valuation and Insolvency Management Service, and the State Data Protection Inspectorate. Industry bodies consulted included the Lithuanian Banks Association, the Lithuanian Financial Brokers Association, the Lithuanian Investment and Pension Funds Association, the Lithuanian Venture and Private Capital Association, the Lithuanian Investment Managers Association, and AB NASDAQ OMX Vilnius. The draft amendments have been formally submitted to the Lithuanian Government for further processing. The amendments are currently included in a legislative package alongside related proposals (registration numbers 26-6534(2), 26-6536(2), 26-6537(2), and 26-6538(2)). Market participants and financial services providers should monitor the government's consideration of these amendments, as they may introduce substantive changes to the regulatory framework governing financial instruments markets in Lithuania.

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Lithuania's Seimas Advances Amendments to Financial Instruments Market Law

On August 3, 2026, the Seimas of the Republic of Lithuania registered amendments to the Financial Instruments Market Law (Law No. X-1024) for consideration by the government. The amendments modify Articles 15-2, 15-4, 16, and 102 of the law, as well as its annex. The Ministry of Finance of the Republic of Lithuania prepared the draft amendments, with Ieva Vaštakaitė serving as the primary contact. The amendments underwent a public consultation and coordination process between April 27 and May 12, 2026, during which multiple stakeholders reviewed and approved the proposals. Coordinating institutions included the Ministry of Justice, the Ministry of Economy and Innovation, the Bank of Lithuania, the Audit, Accounting, Asset Valuation and Insolvency Management Service, and the State Data Protection Inspectorate. Industry bodies consulted included the Lithuanian Banks Association, the Lithuanian Financial Brokers Association, the Lithuanian Investment and Pension Funds Association, the Lithuanian Venture and Private Capital Association, the Lithuanian Investment Managers Association, and AB NASDAQ OMX Vilnius. The draft amendments have been formally submitted to the Lithuanian Government for further processing. The amendments are currently included in a legislative package alongside related proposals (registration numbers 26-6534(2), 26-6536(2), 26-6537(2), and 26-6538(2)). Market participants and financial services providers should monitor the government's consideration of these amendments, as they may introduce substantive changes to the regulatory framework governing financial instruments markets in Lithuania.
3365112 pc no date msolomon Russia Bank of Russia financial services
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Russia's Bank of Russia Expands Fast Payment System with Government Payment and Cash Services

On July 30, 2026, the Bank of Russia announced new services within the Fast Payment System (FPS), expanding its functionality to include government payments and cross-bank cash deposits. The Bank of Russia has mandated that credit institutions provide citizens with the ability to pay for childcare, extracurricular activities, taxes, fines, and other government payments (citizen-to-government payments, or C2G payments) through the FPS. Banks must offer this functionality on state and municipal service portals, on relevant government agency websites, and at citizen service points operated by budget organisations. The Ministry of Justice of Russia registered the corresponding directive from the Bank of Russia. Implementation timelines vary by institution size. The largest credit organisations must comply by April 1, 2027, while banks holding universal licences must implement the service by October 1, 2027. Some banks have voluntarily begun offering C2G payments ahead of these deadlines. Importantly, C2G payments through the FPS are free for citizens, and banks incur no commissions to the regulator for processing these transactions. Additionally, the Bank of Russia introduced a new cash deposit service within the FPS. This service allows customers to deposit cash through an automated teller machine (ATM) operated by one bank and have the funds credited to their account at another bank. Banks will independently decide whether to implement this cash-in functionality. These developments represent a significant expansion of the FPS infrastructure, enhancing accessibility to government payment services and improving interbank liquidity management capabilities across Russia's banking sector.

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Russia's Bank of Russia Expands Fast Payment System with Government Payment and Cash Services

On July 30, 2026, the Bank of Russia announced new services within the Fast Payment System (FPS), expanding its functionality to include government payments and cross-bank cash deposits. The Bank of Russia has mandated that credit institutions provide citizens with the ability to pay for childcare, extracurricular activities, taxes, fines, and other government payments (citizen-to-government payments, or C2G payments) through the FPS. Banks must offer this functionality on state and municipal service portals, on relevant government agency websites, and at citizen service points operated by budget organisations. The Ministry of Justice of Russia registered the corresponding directive from the Bank of Russia. Implementation timelines vary by institution size. The largest credit organisations must comply by April 1, 2027, while banks holding universal licences must implement the service by October 1, 2027. Some banks have voluntarily begun offering C2G payments ahead of these deadlines. Importantly, C2G payments through the FPS are free for citizens, and banks incur no commissions to the regulator for processing these transactions. Additionally, the Bank of Russia introduced a new cash deposit service within the FPS. This service allows customers to deposit cash through an automated teller machine (ATM) operated by one bank and have the funds credited to their account at another bank. Banks will independently decide whether to implement this cash-in functionality. These developments represent a significant expansion of the FPS infrastructure, enhancing accessibility to government payment services and improving interbank liquidity management capabilities across Russia's banking sector.
3363682 pc no date tojuri France Autorité des Marchés Financiers financial services
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France's Financial Markets Authority Confirms Money Market Fund Classification as Cash Equivalents

On July 30, 2026, the Autorité des Marchés Financiers (AMF) confirmed guidance from the Autorité des Normes Comptables (French Accounting Standards Authority, ANC) regarding the classification of money market funds (MMFs) as "cash equivalents" under European accounting standards. The clarification addresses requirements introduced by Directive (EU) 2024/927 (Alternative Investment Fund Managers Directive II, AIFMD II), which mandates that asset management companies select at least two liquidity management tools for UCITS and open-ended alternative investment funds (AIFs). However, funds authorised under Regulation (EU) 2017/1131 on MMFs are required to select only one liquidity management tool. In a letter dated July 8, 2026, the ANC confirmed that the presence of liquidity management tools—such as swing pricing—does not undermine the presumption that variable net asset value (VNAV) MMFs, whether standard or short-term, qualify for classification as "cash equivalents". This position responds to a question raised by the Association Française de la Gestion Financière (AFG), with analytical support from the AMF. The ANC noted that this presumption remains rebuttable, particularly during periods of market stress or when such liquidity management tools are activated. The AMF will incorporate this ANC position into its updated guide on money market funds. Asset managers relying on this guidance should monitor for any future updates to the AMF's guidance and remain alert to circumstances that could trigger the rebuttal of the presumption, particularly during volatile market conditions. **References:** - ANC letter of July 8, 2026 (in French only) - Directive (EU) 2024/927 of March 13, 2024 (AIFMD II) - Regulation (EU) 2017/1131 on money market funds

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Money market funds: the ANC has confirmed the presumption of classification as "cash equivalents"

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3358770 pc no date msolomon Poland Narodowy Bank Polski horizon scanning
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Poland's National Bank Establishes Artificial Intelligence Development and Security Commission

On July 27, 2026, Poland's Official Journal published the Act on Artificial Intelligence Systems (Ustawa o systemach sztucznej inteligencji), implementing the European Union's AI Regulation (EU) 2024/1689. The legislation, enacted July 3, 2026, establishes the Commission for Artificial Intelligence Development and Security (Komisja Rozwoju i Bezpieczeństwa Sztucznej Inteligencji) as Poland's primary market surveillance authority for AI systems and general-purpose AI models. The Commission will oversee compliance with EU AI Regulation requirements, manage market surveillance, support AI innovation and research competitiveness, and coordinate with national authorities and EU institutions. The legislation grants the Commission authority to conduct inspections, issue warnings, impose administrative penalties, and establish regulatory sandboxes. The Commission comprises a Chair, two Deputy Chairs, and four members appointed by the Office for Competition Protection, Financial Supervision Commission, National Broadcasting Council, and Electronic Communications Office. The Act establishes procedures for individual opinions on AI regulation compliance, with a 150 zloty application fee. Opinions are binding on the Commission and other state bodies for specified factual circumstances. The legislation also creates a Social Council for Artificial Intelligence to advise the Commission and enables the Commission to establish regulatory sandboxes supporting AI development through exemptions or compliance support. Participants include micro, small, and medium enterprises at no cost, while other entities pay scaled fees. The Act designates the Minister for Digitization as the notifying authority for conformity assessment bodies and grants the Commission enforcement powers including administrative penalties, system withdrawal orders, and immediate execution authority for decisions protecting public safety. The legislation enters into force August 10, 2026, with Chapter 3-5, 8, and 9 effective October 10, 2026.

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Law of July 3, 2026 on Artificial Intelligence Systems

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3356451 pc no date rghosh Jamaica Financial Services Commission - News horizon scanning
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Jamaica's Financial Services Commission Launches Consultation on Fit and Proper Standards

On July 27, 2026, the Financial Services Commission (FSC) launched a public consultation on proposed Standards of Sound Practice for Fit and Proper requirements applicable to regulated entities in Jamaica. The consultation seeks feedback on standards designed to establish criteria for assessing the fitness and propriety of individuals and entities operating within Jamaica's financial services sector. The FSC is simultaneously consulting on complementary Standards of Sound Practice on Corporate Governance for Regulated Entities, reflecting a comprehensive approach to strengthening governance and oversight frameworks across the sector. The fit and proper standards establish baseline expectations for competence, integrity, and suitability of persons holding key positions within regulated financial institutions. These standards are intended to enhance consumer protection and maintain the stability and reputation of Jamaica's financial services industry by ensuring that individuals managing regulated entities meet defined professional and ethical criteria. The consultation materials include a cover letter outlining the FSC's objectives, a public consultation paper detailing the proposed standards, and appendices providing technical guidance. Regulated entities, industry participants, and other stakeholders are invited to submit responses during the consultation period. The FSC will use feedback received to refine the standards before finalising and implementing them. Specific response deadlines and submission procedures are available through the FSC's official channels.

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Jamaica's Financial Services Commission Launches Consultation on Fit and Proper Standards

On July 27, 2026, the Financial Services Commission (FSC) announced that it had launched a public consultation on proposed Standards of Sound Practice for Fit and Proper requirements running from July 8 - August 5, 2026. The consultation is applicable to regulated entities in Jamaica. The consultation seeks feedback on standards designed to establish criteria for assessing the fitness and propriety of individuals and entities operating within Jamaica's financial services sector. The standards apply to beneficial owners, controllers, directors, officers, senior managers, responsible officers, nominated officers, trustees, and shareholders with significant influence, as well as any natural person exercising significant influence over the governance or operations of a regulated entity. Where the applicant or licensee is an entity, the FSC will assess the natural persons connected to it. The FSC retains discretion to initiate or renew assessments on changes in ownership or control, appointment of new directors or officers, material adverse supervisory findings, evidence of misconduct, or developments within financial groups or outsourcing arrangements. Key provisions include: Core assessment criteria: Fitness and propriety is assessed against three core criteria: honesty, integrity, and reputation; competence and capability; and financial soundness. Honesty and integrity encompasses criminal convictions, adverse civil findings, regulatory sanctions, dismissals, bankruptcy, and candour with regulators. Competence and capability encompasses relevant qualifications, employment history, training, and understanding of the regulatory environment. Financial soundness encompasses personal solvency, outstanding judgments, source of wealth, and source of funds, assessed on a risk-based approach. Extended assessment criteria: The Standards introduce four extended criteria: independence and conflicts of interest, requiring disclosure and management of actual or potential conflicts; regulatory compliance and conduct history, covering sanctions, enforcement actions, and cooperation with regulators; ethical culture and accountability, covering promotion of compliance, fair treatment of customers, and acceptance of supervisory oversight; and group-wide and outsourcing considerations, requiring that persons exercising material influence over outsourced regulated activities also satisfy fit and proper standards. Obligations of financial service providers: The burden of demonstrating fitness and propriety rests with the sponsoring FSP or applicant, which must complete its own internal assessment prior to submission to the FSC, covering verification of qualifications, employment history, references, and probity checks. FSPs must maintain a written record of their internal assessment and provide it to the FSC on request. Repeated incomplete, inconsistent, or poor-quality submissions may be treated as a governance and compliance concern. Ongoing obligations: Persons in controlled functions are required to remain fit and proper on a continuous basis. FSPs must notify the FSC within 21 days of any material change affecting the fitness and propriety of a person in a controlled function, and must maintain ongoing internal monitoring of directors, officers, controllers, and other controlled function holders. Enforcement and sanctions: Where the FSC determines that a person is not, or no longer remains, fit and proper, enforcement measures available include refusal of application, suspension or removal from a controlled function, imposition of conditions or restrictions, administrative fines, public censure, revocation of licences, and referral to law enforcement. Enforcement is applied proportionately having regard to the nature and gravity of the misconduct, whether the breach was deliberate or negligent, duration and frequency, cooperation, and remedial action taken. Debarment, barring, or prohibition from specified roles may also be considered where the facts and applicable law permit. Procedural fairness: Where the FSC proposes an adverse fit and proper decision, the affected person will ordinarily be given an opportunity to be heard, with notice identifying the proposed action, its statutory basis, the material concerns, and the evidence relied upon. Where statute provides a right of appeal or review, the FSC will issue a decision letter identifying the decision, principal reasons, and applicable appeal route. Responses to the consultation may be sent by August 5, 2026 to Paul McAllister at respol@fscjamaica.org .
3356448 pc no date rghosh Jamaica Financial Services Commission - News horizon scanning
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Jamaica's Financial Services Commission Launches Consultation on Corporate Governance Standards for Regulated Entities

On July 27, 2026, the Financial Services Commission (FSC) released a public consultation on proposed standards of sound practice for corporate governance applicable to regulated entities in Jamaica. The FSC's consultation introduces comprehensive corporate governance standards designed to establish baseline requirements for regulated financial services entities. The proposed standards address governance structures, board composition, risk management frameworks, and accountability mechanisms for entities operating under FSC supervision. The consultation package includes a cover letter outlining the FSC's objectives, a public consultation paper detailing the proposed standards, and supporting appendices including standards of sound practice for fit and proper assessments of directors and senior management. The standards aim to strengthen the governance framework across Jamaica's regulated financial services sector by ensuring that regulated entities maintain robust internal controls, transparent decision-making processes, and effective oversight mechanisms. The standards are applicable to all entities regulated by the FSC, including banks, insurance companies, investment firms, and other financial services providers. The consultation seeks stakeholder feedback on the proposed governance requirements, including their feasibility, proportionality, and alignment with international best practices. Stakeholders, including regulated entities, industry associations, and other interested parties, are invited to submit responses to the consultation. The FSC has published the full consultation materials on its website, including the cover letter, public consultation paper, and appendices detailing the proposed standards of sound practice for corporate governance and fit and proper requirements.

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Jamaica's Financial Services Commission Launches Consultation on Corporate Governance Standards for Regulated Entities

On July 27, 2026, the Financial Services Commission (FSC) released a public consultation on proposed standards of sound practice for corporate governance applicable to regulated entities in Jamaica. The FSC's consultation introduces comprehensive corporate governance standards designed to establish baseline requirements for regulated financial services entities. The proposed standards address governance structures, board composition, risk management frameworks, and accountability mechanisms for entities operating under FSC supervision. The standards apply to the Governing Bodies of all regulated entities across the insurance, pension, securities, and trust and corporate services sectors, with proportional application based on the size, complexity, structure, nature of business, and risk profile of each entity. Where a regulated entity forms part of a group, it may rely on the group's corporate governance framework provided that framework meets Jamaican legal requirements; where gaps are identified, a tailored framework must be developed. Key provisions include: Corporate governance framework: Regulated entities must develop, enforce, and uphold a corporate governance framework ensuring effective and responsible management oversight while safeguarding stakeholder interests. The Governing Body must be constituted with a sufficient number of individuals possessing diverse skills, experience, and expertise, supported by documented internal governance practices, clearly defined responsibilities, succession plans, and nomination, appointment, and termination procedures for Directors and Senior Management. Sub-committees may be established to execute delegated functions, provided each operates under a defined charter and that the Governing Body retains ultimate oversight and accountability, including in respect of internal control, internal audit, risk management, and actuarial matters where applicable. Duties of the governing body and individual directors: The Governing Body must collectively oversee the entity's strategic direction, regulatory compliance, and risk management, and must assess its own composition, performance, and the effectiveness of risk management and internal control systems at least annually. Individual Directors are required to act with integrity, care, and diligence, maintain an up-to-date understanding of the entity's business, prioritise the interests of the entity and its stakeholders, and safeguard their independence from undue influence by Senior Management. Directors must notify the relevant regulator within seven days of becoming aware of any substantive issues that could materially affect the entity. Conflicts of interest and code of conduct: Regulated entities must maintain a formal conflicts of interest policy requiring declaration, avoidance, and recusal obligations for Directors and Senior Management. Directors must provide written annual declarations confirming all conflicts disclosed during the year. The Governing Body must adhere to a Code of Conduct grounded in the principles of selflessness, integrity, objectivity, accountability, openness, honesty, and leadership. Remuneration, reporting, and transparency: The Governing Body must establish a documented remuneration policy applicable to Directors, Senior Management, employees in Control Functions, and other personnel capable of materially influencing the entity's risk exposure, ensuring remuneration does not incentivise excessive or inappropriate risk-taking. Comprehensive financial and regulatory reporting processes must be maintained, supported by audit and compliance committees or comparable bodies. The Governing Body must convene at least annually, distribute agendas in advance, and maintain detailed minutes recording attendance, decisions, conflicts declared, and dissensions. Supervisory review and enforcement: The FSC will assess the adequacy and effectiveness of each entity's corporate governance framework, applying supervisory judgment based on the entity's size and risk profile. Entities that consider a specific standard inapplicable must provide full justification to the FSC. Non-compliance will be subject to the FSC's enforcement policies and procedures. The effective date of the Standards is to be confirmed. Responses to the consultation should be sent by August 6, 2026 to Paul McAllister at respol@fscjamaica.org .
3354148 pc no date kgurnani New Zealand New Zealand Legislation - Secondary Legislation financial services
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New Zealand Financial Markets Authority Grants Climate-Related Disclosures Exemption to MUFG Bank

On April 29, 2026, the Financial Markets Authority (FMA) issued the Financial Markets Conduct (Climate-related Disclosures – MUFG Bank, Ltd.) Exemption Notice 2026 under section 556 of the Financial Markets Conduct Act 2013. The exemption notice grants MUFG Bank, Ltd. relief from specified climate-related disclosure requirements under the Financial Markets Conduct Act 2013 (FMC Act). The exemption is effective from April 29, 2026, and remains in force until July 31, 2028. This temporary relief allows MUFG Bank to operate under modified climate disclosure obligations during this period. The FMA, which administers the FMC Act, issued this secondary legislation to provide targeted regulatory flexibility for the financial institution. The exemption represents the FMA's approach to managing transition periods for entities subject to evolving climate-related disclosure standards. By granting time-limited exemptions, the FMA balances regulatory compliance with practical implementation considerations for financial institutions adjusting to new disclosure frameworks. This measure applies specifically to MUFG Bank, Ltd., a major international financial institution, and does not affect broader climate disclosure requirements applicable to other market participants under the FMC Act. The exemption notice is published on the New Zealand Legislation website and administered by the Financial Markets Authority. The temporary nature of the exemption, with a defined end date of July 31, 2028, suggests the FMA expects MUFG Bank to achieve full compliance with climate-related disclosure requirements by that date.

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New Zealand Financial Markets Authority Grants Climate-Related Disclosures Exemption to MUFG Bank

On April 29, 2026, the Financial Markets Authority (FMA) issued the Financial Markets Conduct (Climate-related Disclosures – MUFG Bank, Ltd.) Exemption Notice 2026 under section 556 of the Financial Markets Conduct Act 2013. The exemption notice grants MUFG Bank, Ltd. relief from specified climate-related disclosure requirements under the Financial Markets Conduct Act 2013 (FMC Act). The exemption is effective from April 29, 2026, and remains in force until July 31, 2028. This temporary relief allows MUFG Bank to operate under modified climate disclosure obligations during this period. The FMA, which administers the FMC Act, issued this secondary legislation to provide targeted regulatory flexibility for the financial institution. The exemption represents the FMA's approach to managing transition periods for entities subject to evolving climate-related disclosure standards. By granting time-limited exemptions, the FMA balances regulatory compliance with practical implementation considerations for financial institutions adjusting to new disclosure frameworks. This measure applies specifically to MUFG Bank, Ltd., a major international financial institution, and does not affect broader climate disclosure requirements applicable to other market participants under the FMC Act. The exemption notice is published on the New Zealand Legislation website and administered by the Financial Markets Authority. The temporary nature of the exemption, with a defined end date of July 31, 2028, suggests the FMA expects MUFG Bank to achieve full compliance with climate-related disclosure requirements by that date.
3344468 pc no date kgurnani Australia Federal Register of Legislation horizon scanning
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Australia's Department of the Treasury Amends Business Registers Legislation Through Treasury Laws Amendment Instrument

On July 22, 2026, Australia's Department of the Treasury brought into force the Treasury Laws Amendment (Business Registers) Instrument 2026 (F2026N00527). This notifiable instrument amends legislation governing business registration and consumer credit protection in Australia. The instrument modifies three key pieces of legislation: the National Consumer Credit Protection Act 2009, the Business Names Registration Act 2011, and the Corporations Act 2001. The amendment addresses business register administration and related regulatory frameworks that govern how businesses register, operate, and comply with consumer credit and corporate obligations in Australia. The Treasury Laws Amendment (Business Registers) Instrument 2026 came into effect on July 22, 2026. The instrument is available in both Word and PDF formats through the Federal Register of Legislation, with the full text comprising six pages. The Department of the Treasury administers this instrument and oversees its implementation across affected business registration and consumer credit protection regimes. REFERENCES: Federal Register of Legislation. Treasury Laws Amendment (Business Registers) Instrument 2026. Available at: https://www.legislation.gov.au/

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Australia's Department of the Treasury Amends Business Registers Legislation Through Treasury Laws Amendment Instrument

On July 22, 2026, Australia's Department of the Treasury brought into force the Treasury Laws Amendment (Business Registers) Instrument 2026 (F2026N00527). This notifiable instrument amends legislation governing business registration and consumer credit protection in Australia. The instrument modifies three key pieces of legislation: the National Consumer Credit Protection Act 2009, the Business Names Registration Act 2011, and the Corporations Act 2001. The amendment addresses business register administration and related regulatory frameworks that govern how businesses register, operate, and comply with consumer credit and corporate obligations in Australia. The Treasury Laws Amendment (Business Registers) Instrument 2026 came into effect on July 22, 2026. The instrument is available in both Word and PDF formats through the Federal Register of Legislation, with the full text comprising six pages. The Department of the Treasury administers this instrument and oversees its implementation across affected business registration and consumer credit protection regimes. REFERENCES: Federal Register of Legislation. Treasury Laws Amendment (Business Registers) Instrument 2026. Available at: https://www.legislation.gov.au/
3345704 pc no date kgurnani Australia Australian Prudential Regulation Authority horizon scanning
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Australian Prudential Regulation Authority Updates Section 66 Banking Act Exemption for Foreign Entities

The Australian Prudential Regulation Authority (APRA) released a response to its consultation on minor proposals for instruments relating to section 66 of the Banking Act 1959 (the Banking Act). Under section 66 of the Banking Act, certain words and expressions are restricted in use within the context of a financial business, such as the word "bank" and words of like import, unless APRA has provided written consent for a person or class of persons to use those words and expressions. APRA updated a class exemption that allows foreign entities to use restricted terms when issuing debt securities in wholesale capital markets. The exemption now captures a broader set of foreign entities that commonly seek APRA's consent, reducing administrative burden for these entities. The update expands the scope of entities eligible for the exemption, streamlining the consent process for foreign issuers accessing Australian wholesale debt markets. Other aspects of the exemption remain unchanged. The updated exemption applies to foreign entities seeking to use restricted terminology in debt securities issuance, removing the need for individual consent applications for a wider range of entities that fall within the expanded class definition. APRA's response to submissions and the final legislative instrument are available on APRA's website. For further information, interested parties may contact APRA on 1300 558 849 or the APRA Media Unit on +61 2 9210 3636.

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Australian Prudential Regulation Authority Updates Section 66 Banking Act Exemption for Foreign Entities

The Australian Prudential Regulation Authority (APRA) released a response to its consultation on minor proposals for instruments relating to section 66 of the Banking Act 1959 (the Banking Act). Under section 66 of the Banking Act, certain words and expressions are restricted in use within the context of a financial business, such as the word "bank" and words of like import, unless APRA has provided written consent for a person or class of persons to use those words and expressions. APRA updated a class exemption that allows foreign entities to use restricted terms when issuing debt securities in wholesale capital markets. The exemption now captures a broader set of foreign entities that commonly seek APRA's consent, reducing administrative burden for these entities. The update expands the scope of entities eligible for the exemption, streamlining the consent process for foreign issuers accessing Australian wholesale debt markets. Other aspects of the exemption remain unchanged. The updated exemption applies to foreign entities seeking to use restricted terminology in debt securities issuance, removing the need for individual consent applications for a wider range of entities that fall within the expanded class definition. APRA's response to submissions and the final legislative instrument are available on APRA's website. For further information, interested parties may contact APRA on 1300 558 849 or the APRA Media Unit on +61 2 9210 3636.
3350572 pc no date tojuri France Autorité des Marchés Financiers financial services
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France's Financial Markets Authority Updates Doctrine Following European Benchmarks Regulation Revision

On July 23, 2026, the Autorité des Marchés Financiers (AMF) updated its doctrine to reflect the entry into application of Regulation (EU) 2025/914, which revised the European Benchmarks Regulation (BMR) effective January 1, 2026. The revision significantly narrowed the scope of indices subject to BMR requirements and introduced new procedures for deposits with the Caisse des Dépôts et Consignations (CDC). Under the previous BMR regime, all benchmark administrators had to comply with regulatory requirements regardless of the notional amount of financial instruments using their indices. The revised BMR excludes non-significant benchmarks (notional amount below €50 billion) that are neither Paris-Aligned nor Climate Transition indices and do not fall under commodity indices. Consequently, only critical benchmarks (notional amount ≥ €500 billion), significant benchmarks (notional amount ≥ €50 billion), and designated climate-related benchmarks remain within the BMR's scope. Administrators providing only excluded benchmarks no longer require authorisation or registration with competent authorities. The AMF updated Instructions DOC-2008-03 and DOC-2014-01 to clarify that benchmark administrator activities are subject to authorisation or registration only when administering benchmarks falling within the revised BMR scope. Additionally, the AMF updated Instructions DOC-2011-19, DOC-2011-20, DOC-2011-21, DOC-2011-22, DOC-2011-23, and DOC-2012-06 to specify that prospectus notices regarding benchmark administrators apply only when funds use indices within the BMR's scope. Existing UCITS and alternative investment funds (AIFs) using benchmarks now excluded from the BMR must update their prospectuses or rules by October 1, 2026. The AMF also implemented new requirements under Decree No. 2025-673 of July 18, 2025, requiring liquidators of UCITS or AIFs to notify the AMF of sums allocated to unit holders or shareholders whose identity could not be established, with deposits to the CDC required within one year thereafter.

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The Autorité des Marchés Financiers (AMF) is updating its doctrine in light of the recent revision of the European Benchmarks Regulation and the new regulatory framework for deposits with the Caisse des Dépôts et Consignations

[Auto-generated content is not available for this article. Please write the update manually based on the source.]
3346704 pc no date arahman Bosnia and Herzegovina Laws - Banking Agency of Rep financial services
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Bosnia and Herzegovina's Banking Agency Amends Domestic Payment Traffic Law to Strengthen Consumer Protection and Payment System Efficiency

The Banking Agency of the Republic of Srpska (Banking Agency) has enacted comprehensive amendments to the Law on Domestic Payment Traffic, establishing enhanced regulatory frameworks for payment services, consumer protection, and mandatory payment system registration. The amendments, enacted through multiple legislative updates between June 2019 and July 2026, modernize Bosnia and Herzegovina's domestic payment infrastructure in alignment with European Union directives. Key developments include the establishment of centralized registries for payment accounts held by individuals and businesses, managed by the Agency for Intermediary, Informatics and Financial Services (APIF). These registries enable efficient identification of accounts during enforcement proceedings and facilitate compliance with anti-money laundering requirements. The legislation mandates that authorized organizations maintain comprehensive account records and provide regular account statements to customers without charge. The amendments introduce mandatory transparency standards requiring authorized organizations to publish standardized fee information for representative payment services. Authorized organizations must provide customers with comparative fee disclosures and annual fee statements detailing all charges incurred. The Banking Agency establishes lists of representative payment services and standardized terminology to facilitate customer comparison across institutions. Significantly, the legislation establishes the right of individuals with residence in the Republic of Srpska to access basic payment accounts offering essential services at reasonable costs. For socially vulnerable users, including pensioners and social welfare recipients, fees cannot exceed 0.15 percent of average monthly net wages. The law prohibits authorized organizations from conditioning basic account access on purchase of additional services. The amendments establish registries for safe deposit boxes held by individuals and businesses, restricting access to authorized users including courts, law enforcement agencies, and financial crime prevention authorities. The legislation strengthens enforcement mechanisms for mandatory collection from accounts while protecting exempt funds and establishing procedural requirements for account blocking and unblocking. Authorized organizations must comply with new requirements within specified timeframes. The Banking Agency issues implementing regulations governing fee transparency, basic account operations, and registry management. The legislation remains subject to ongoing alignment with European Union payment services directives.

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Bosnia and Herzegovina's Banking Agency Publishes Amendments to Law on Inland Payment Transactions

On July 9, 2026, the Banking Agency of Republika Srpska published the amendments to the Law on Inland Payment Transactions. This law regulates the registers of current accounts, the register of safes and the enforcement collection from accounts in the domestic payment traffic in the Republic of Srpska. Key amendments include: An account that a firm is required to open for payment purposes, as well as an account that a natural person opens for conducting payment transactions, in accordance with the provisions of this law, is a current account as prescribed by the law regulating payment services. A firm authorised to provide payment services may also perform the following tasks: 1. Enforcement of collections from accounts. 2. Maintaining records of participants' accounts. 3. Maintaining other records and providing data and reports. A firm authorised to provide payment services may also perform the following tasks: 1. Enforcement of collections from accounts. 2. Maintaining records of participants' accounts. 3. Maintaining other records and providing data and reports. Cash payments are defined as the direct transfer of cash between participants, without the intervention of an intermediary. A business entity is prohibited from paying through accounts with payment institutions and other payment service providers and from redirecting monetary and financial flows to other persons, as well as from receiving payments and paying out monetary funds to the accounts of other persons if it has blocked accounts. Funds collected on accounts opened with payment service providers that are not authorised organisations must be transferred by the business entity with blocked accounts to its main account for the enforcement of compulsory collection. These amendments shall enter into force on the day it is published in the official gazette.
3340002 pc no date arahman
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Bosnia and Herzegovina Publishes Decision on Mandatory Reserves for Banks in the Official Gazette

On July 10, 2026, the Decision on Amendments to the Decision on the Determination and Maintenance of Mandatory Reserves and the Determination of the Fee on the Reserve Amount was published in the official gazette. Key amendments include: Mandatory reserves are maintained by holding cash deposits with the Central Bank and are calculated as average daily reserves over a ten-day period. The bank's fund balance on the account in the BiH Instant Payment System at the end of each business day during the maintenance period shall be the balance of the bank's reserve funds as of 4:00 PM each business day, which the Central Bank records and maintains under the reserve account in KM and which represents the book balance for that day. This decision shall enter into force on July 11, 2026 and apply from July 20, 2026.
3342530 pc no date kgurnani Australia Federal Register of Legislation horizon scanning
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Australia's Department of the Treasury Issues Banking Exemption No. 2 of 2026

On July 21, 2026, Australia's Department of the Treasury issued Banking Exemption No. 2 of 2026 under the Banking Act 1959. The exemption came into force on the same date and is now in effect. Banking exemptions under the Banking Act 1959 allow the Department of the Treasury to provide relief from certain regulatory requirements for banking institutions that meet specified criteria. These exemptions are typically issued to address operational challenges, facilitate compliance with evolving regulatory standards, or accommodate specific circumstances affecting authorised deposit-taking institutions (ADIs). The exemption is administered by the Department of the Treasury and represents an official legislative instrument registered on the Federal Register of Legislation under reference F2026L00983. The Department of the Treasury published both the legislative instrument and an accompanying explanatory statement to provide clarity on the exemption's scope and application. These documents are available in both Word and PDF formats from the Federal Register of Legislation website. The specific provisions and conditions of Banking Exemption No. 2 of 2026 are detailed in the legislative instrument and explanatory statement. Authorised deposit-taking institutions and other relevant stakeholders should review these documents to understand how the exemption applies to their operations and any compliance obligations that may arise. **References:** Federal Register of Legislation. (2026). Banking exemption No. 2 of 2026. Retrieved from https://www.legislation.gov.au/

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1583 chars · nid 94159

Australia's Department of the Treasury Issues Banking Exemption No. 2 of 2026

On July 21, 2026, Australia's Department of the Treasury issued Banking Exemption No. 2 of 2026 under the Banking Act 1959. The exemption came into force on the same date and is now in effect. Banking exemptions under the Banking Act 1959 allow the Department of the Treasury to provide relief from certain regulatory requirements for banking institutions that meet specified criteria. These exemptions are typically issued to address operational challenges, facilitate compliance with evolving regulatory standards, or accommodate specific circumstances affecting authorised deposit-taking institutions (ADIs). The exemption is administered by the Department of the Treasury and represents an official legislative instrument registered on the Federal Register of Legislation under reference F2026L00983. The Department of the Treasury published both the legislative instrument and an accompanying explanatory statement to provide clarity on the exemption's scope and application. These documents are available in both Word and PDF formats from the Federal Register of Legislation website. The specific provisions and conditions of Banking Exemption No. 2 of 2026 are detailed in the legislative instrument and explanatory statement. Authorised deposit-taking institutions and other relevant stakeholders should review these documents to understand how the exemption applies to their operations and any compliance obligations that may arise. **References:** Federal Register of Legislation. (2026). Banking exemption No. 2 of 2026. Retrieved from https://www.legislation.gov.au/
3339622 pc no date kgurnani Australia Australian Payments Network horizon scanning
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Australian Payments Network Urges Cheques Users to Explore Alternative Payment Options

On July 20, 2026, the Australian Payments Network (AusPayNet) released guidance encouraging consumers and organisations currently relying on cheque payments to explore alternative payment options as Australia's cheque system winds down. AusPayNet has identified specific user groups requiring targeted support during the cheques transition, including older Australians, Australians in rural and remote areas, charities, and small businesses. The network recognises that these cohorts may face particular challenges in transitioning away from cheque-based payments and has released dedicated media guidance for each group to facilitate their shift to alternative payment methods. The cheques phase-out represents a significant infrastructure change for the Australian payments system. AusPayNet's proactive approach aims to ensure a managed transition that minimises disruption to vulnerable and underserved populations. By providing tailored resources and guidance to specific user segments, AusPayNet seeks to support stakeholders in adopting alternative payment solutions suited to their circumstances and operational requirements. Users requiring further information on available alternatives and transition support should consult AusPayNet's dedicated cheques transition resources and the specific media releases targeting their user category.

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Australian Payments Network Urges Cheques Users to Explore Alternative Payment Options

On July 20, 2026, the Australian Payments Network (AusPayNet) released guidance encouraging consumers and organisations currently relying on cheque payments to explore alternative payment options as Australia's cheque system winds down. AusPayNet has identified specific user groups requiring targeted support during the cheques transition, including older Australians, Australians in rural and remote areas, charities, and small businesses. The network recognises that these cohorts may face particular challenges in transitioning away from cheque-based payments and has released dedicated media guidance for each group to facilitate their shift to alternative payment methods. The cheques phase-out represents a significant infrastructure change for the Australian payments system. AusPayNet's proactive approach aims to ensure a managed transition that minimises disruption to vulnerable and underserved populations. By providing tailored resources and guidance to specific user segments, AusPayNet seeks to support stakeholders in adopting alternative payment solutions suited to their circumstances and operational requirements. Users requiring further information on available alternatives and transition support should consult AusPayNet's dedicated cheques transition resources and the specific media releases targeting their user category.
3338750 pc no date arahman European Union European Securities and Markets Authority horizon scanning
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European Securities and Markets Authority Issues Statement on Trade Settlement T+1 Preparations and Key Deadlines

On June 20, 2024, the European Securities and Markets Authority (ESMA) issued a statement outlining key deadlines and action points for market participants preparing for the transition to T+1 (trade date plus one day) settlement in European securities markets. The statement, referenced as ESMA74-2119945926-3773, provides guidance on critical milestones and requirements that market participants must meet to ensure a smooth transition from the current T+2 (trade date plus two days) settlement cycle. ESMA's statement addresses the operational, technical, and procedural changes necessary for investment firms, central counterparties (CCPs), central securities depositories (CSDs), and other post-trading infrastructure providers to implement T+1 settlement. The statement identifies specific action points for market participants, including system upgrades, process modifications, and testing requirements. ESMA emphasises the importance of coordinated preparation across the post-trading ecosystem to manage risks associated with shortened settlement cycles. The guidance covers areas such as liquidity management, collateral arrangements, and contingency planning to ensure market stability during the transition period. Market participants, including investment firms, trading venues, and post-trading service providers, must prioritise implementation of the necessary changes to meet ESMA's specified deadlines. The statement serves as a key reference document for the European securities industry's preparation for T+1 settlement and outlines the regulatory expectations for successful transition management. The full statement is available on ESMA's website.

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European Securities and Markets Authority Issues Statement on Trade Settlement T+1 Preparations and Key Deadlines

On June 20, 2026, the European Securities and Markets Authority (ESMA) issued a statement outlining key deadlines and action points for market participants preparing for the transition to T+1 (trade date plus one day) settlement in European securities markets. Key points include: On 11 October 2027, the EU financial markets will move to a T+1 settlement cycle. As a next step in the process towards T+1, ESMA proposed amendments to Commission Delegated Regulation (EU) 2018/1229 to set new requirements, which are particularly relevant for the transition to T+1. These amendments have now been endorsed by the European Commission, and are currently under scrutiny by the European Parliament and the Council. Firms should consider these new requirements in combination with the recommendations of the EU T+1 Industry Committee4 , and accelerate the technical work needed to prepare for the transition to T+1 settlement on 11 October 2027. Insufficient preparedness among market participants could trigger significant operational and reputational risks for those concerned. These can include flawed interdependencies with financial market infrastructures and IT providers, inability to meet client demands, and higher IT and training costs stemming from last‑minute remediation efforts. Market participants will have to be fully compliant by the following deadlines: First deadline: 7 December 2026, with the requirements to improve the first post-trade step, the exchange of allocations and confirmations, in terms of timing and through the default use of international communication standards. Final deadline: 11 October 2027, with the requirements to optimise the settlement layer, including sending instructions early enough to securities settlement systems, and the generalisation of certain functionalities in CSDs, such as auto-partial settlement, hold & release, and auto-collateralisation.
3338711 pc no date csoo Iceland Official Gazette financial services
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Iceland's Official Gazette Publishes Planning Amendment for Akureyri Harbor District

On July 20, 2026, Iceland's Official Gazette published a planning amendment for the harbor area south of Glerá in Akureyri. The Akureyri Municipality Council approved the amendment on April 21, 2026, which modifies the detailed plan for the harbor district located south of Glerá. The amendment concerns a property at Laufásgötu 4 and establishes a new building plot on the site designated for sanitary facilities. The detailed plan amendment was processed in accordance with Article 41 of the Planning Act No. 123/2010 and became effective upon publication. Steinunn Karlsdóttir, planning project manager for Akureyri Municipality, signed the amendment on July 6, 2026. The amendment is now in effect and applies to all relevant parties undertaking development or construction activities in the specified harbor area. The full text of the amendment is available in the Official Gazette publication Nr. 821/2026. REFERENCES: Iceland Official Gazette (Stjórnartíðindi), Nr. 821/2026, July 20, 2026 Planning Act No. 123/2010

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Skoða nánar

[Auto-generated content is not available for this article. Please write the update manually based on the source.]
3331935 pc no date pthandapani Australia Office of the Australian Information Commissioner horizon scanning
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Australian Privacy Commissioner Orders American Express Australia Limited to Compensate Complainant for Privacy Interference

On June 15, 2026, the Office of the Australian Information Commissioner (OAIC) published its determination in the matter of 'BAM' and American Express Australia Limited. Australian Privacy Commissioner Carly Kind found that American Express Australia Ltd (AMEX) interfered with the complainant's privacy under the Privacy Act 1988 (Cth) by failing to take reasonable steps to protect the complainant's personal information from unauthorised access, in breach of Australian Privacy Principle (APP) 11.1. The investigation explored insider security risk within a financial institution, confirming that such risks remain a significant yet frequently overlooked threat to organisations and individuals. The OAIC found that AMEX failed to adequately mitigate risks that employees may seek unauthorised access to personal information for improper purposes, including financial fraud, domestic and family violence, or espionage. This risk is heightened in the financial services sector, which stores large volumes of personal information. Under the determination, AMEX must pay the complainant specified amounts for economic loss, non-economic loss caused by the privacy interference, and reimbursement of complaint-related expenses. AMEX must also issue a written apology signed by a representative with sufficient seniority, acknowledging the privacy interference. Additionally, AMEX must implement technical controls to restrict employee access to specific customer information, including protections for vulnerable or high-profile customers, and establish account-level access logging and action logging to create time-stamped entries when employees access or take action on customer records. The determination emphasises the critical role that information and communication technology systems' access controls play in protecting personal information from unauthorised employee access. The OAIC published a summary report rather than the full determination, citing confidentiality claims and potential harm to individuals and AMEX's cybersecurity.

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Australian Privacy Commissioner Orders American Express Australia Limited to Compensate Complainant for Privacy Interference

On June 15, 2026, the Office of the Australian Information Commissioner (OAIC) published its determination in the matter of 'BAM' and American Express Australia Limited. Australian Privacy Commissioner Carly Kind found that American Express Australia Ltd (AMEX) interfered with the complainant's privacy under the Privacy Act 1988 (Cth) by failing to take reasonable steps to protect the complainant's personal information from unauthorised access, in breach of Australian Privacy Principle (APP) 11.1. The investigation explored insider security risk within a financial institution, confirming that such risks remain a significant yet frequently overlooked threat to organisations and individuals. The OAIC found that AMEX failed to adequately mitigate risks that employees may seek unauthorised access to personal information for improper purposes, including financial fraud, domestic and family violence, or espionage. This risk is heightened in the financial services sector, which stores large volumes of personal information. Under the determination, AMEX must pay the complainant specified amounts for economic loss, non-economic loss caused by the privacy interference, and reimbursement of complaint-related expenses. AMEX must also issue a written apology signed by a representative with sufficient seniority, acknowledging the privacy interference. Additionally, AMEX must implement technical controls to restrict employee access to specific customer information, including protections for vulnerable or high-profile customers, and establish account-level access logging and action logging to create time-stamped entries when employees access or take action on customer records. The determination emphasises the critical role that information and communication technology systems' access controls play in protecting personal information from unauthorised employee access. The OAIC published a summary report rather than the full determination, citing confidentiality claims and potential harm to individuals and AMEX's cybersecurity.
3332397 pc no date msolomon Czech Republic Czech National Bank horizon scanning
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I appreciate the detailed instructions, but I must note that the source material provided appears to be a navigation menu or administrative index page from the Czech National Bank (ČNB) website rather than substantive regulatory content. The page contains only structural elements: section headings, file reference numbers, and navigation links related to the CNB's supervisory decisions database. The only specific case detail present is: - File reference: S-Sp-2026/00092/CNB/581 - Company: Zeus capital s.r.o. (ID: 06334300) - Decision issued: March 30, 2026 - Decision became legally binding: July 5, 2026 - Administrative proceedings commenced: April 3, 2026 However, the actual content of the decision—what action the CNB took, what violation or issue prompted it, and what requirements or sanctions apply—is not included in the source material provided. The page only indicates that a full text document exists but does not reproduce it. **To generate a meaningful Horizon Scanning update, I would need:** - The substantive text of the CNB's decision regarding Zeus capital s.r.o. - Details of the violation, breach, or regulatory action taken - Any specific requirements, sanctions, or compliance obligations imposed - The regulatory basis for the decision Without this information, I cannot produce an update that meets the standard of factual accuracy and substantive content required by the guidelines. Please provide the full decision text or additional source material containing the regulatory substance.

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Details of the final decision

I appreciate the detailed instructions, but I must note that the source material provided appears to be a navigation menu or administrative index page from the Czech National Bank (ČNB) website rather than substantive regulatory content. The page contains only structural elements: section headings, file reference numbers, and navigation links related to the CNB's supervisory decisions database. The only specific case detail present is: - File reference: S-Sp-2026/00092/CNB/581 - Company: Zeus capital s.r.o. (ID: 06334300) - Decision issued: March 30, 2026 - Decision became legally binding: July 5, 2026 - Administrative proceedings commenced: April 3, 2026 However, the actual content of the decision—what action the CNB took, what violation or issue prompted it, and what requirements or sanctions apply—is not included in the source material provided. The page only indicates that a full text document exists but does not reproduce it. **To generate a meaningful Horizon Scanning update, I would need:** - The substantive text of the CNB's decision regarding Zeus capital s.r.o. - Details of the violation, breach, or regulatory action taken - Any specific requirements, sanctions, or compliance obligations imposed - The regulatory basis for the decision Without this information, I cannot produce an update that meets the standard of factual accuracy and substantive content required by the guidelines. Please provide the full decision text or additional source material containing the regulatory substance.
3321752 pc no date kgurnani Australia The Treasury horizon scanning
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Australian Treasury Responds to Senate Report on Financial Market Infrastructure Bill

On July 13, 2026, the Australian Treasury published its formal government response to recommendations raised in a Senate Economics Legislation Committee inquiry into the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024. The Senate Economics Legislation Committee originally handed down its report on May 3, 2024, examining the provisions of the bill. The Australian Government tabled its formal response on June 25, 2026, addressing the committee's recommendations regarding financial market infrastructure reforms and related measures. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 proposes amendments to Australia's financial market infrastructure framework. The bill aims to modernise and strengthen the regulatory framework governing financial market infrastructure, including provisions affecting banking and finance sectors and broader business and industry operations. The government response document outlines how the Treasury has considered each recommendation made by the Senate committee during its inquiry. The response provides the government's position on the proposed amendments and details how it intends to address the committee's concerns and suggestions regarding the bill's provisions. The Treasury has published the government response in two formats, available for download from its website. The response represents the formal conclusion of the government's consideration of the Senate committee's inquiry findings and provides stakeholders, including financial institutions, market participants, and industry bodies, with clarity on the government's approach to the recommended reforms. REFERENCES: Australian Treasury. Government response to Senate report on the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024. July 13, 2026. https://treasury.gov.au/

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Australian Treasury Responds to Senate Report on Financial Market Infrastructure Bill

On July 13, 2026, the Australian Treasury published its formal government response to recommendations raised in a Senate Economics Legislation Committee inquiry into the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024. The Senate Economics Legislation Committee originally handed down its report on May 3, 2024, examining the provisions of the bill. The Australian Government tabled its formal response on June 25, 2026, addressing the committee's recommendations regarding financial market infrastructure reforms and related measures. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 proposes amendments to Australia's financial market infrastructure framework. The bill aims to modernise and strengthen the regulatory framework governing financial market infrastructure, including provisions affecting banking and finance sectors and broader business and industry operations. The government response document outlines how the Treasury has considered each recommendation made by the Senate committee during its inquiry. The response provides the government's position on the proposed amendments and details how it intends to address the committee's concerns and suggestions regarding the bill's provisions. The Treasury has published the government response in two formats, available for download from its website. The response represents the formal conclusion of the government's consideration of the Senate committee's inquiry findings and provides stakeholders, including financial institutions, market participants, and industry bodies, with clarity on the government's approach to the recommended reforms. REFERENCES: Australian Treasury. Government response to Senate report on the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024. July 13, 2026. https://treasury.gov.au/
3318188 pc no date csoo United Kingdom Competition and Markets Authority horizon scanning
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United Kingdom Department for Science, Innovation and Technology Publishes Artificial Intelligence Security Research Review

On July 10, 2026, the Department for Science, Innovation and Technology (DSIT) published a thematic review and gap analysis on the security of artificial intelligence (AI). The department commissioned Lancaster University to conduct the independent research, which examined peer-reviewed publications on AI security from January 2021 to January 2026. The review identified 9,109 relevant publications across 12 thematic areas, providing a comprehensive overview of the current state of research in AI security. The analysis revealed significant gaps in the existing literature, with five prevalent areas identified where further research is needed. DSIT undertook this review to develop a detailed understanding of research trends and deficiencies in AI security, contributing to the government's broader efforts to assess the cyber security implications of critical and emerging technologies. The findings support the UK government's work to enhance the nation's cyber resilience in response to technological advancement. The report represents independent research and does not constitute UK government policy; the views and findings are derived from Lancaster University's research leadership. This initiative forms part of the government's wider strategy to understand how emerging technologies, particularly AI, present both opportunities and security challenges to the United Kingdom's critical infrastructure and digital systems. The full thematic review and gap analysis is available on the GOV.UK website.

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1516 chars · nid 93985

United Kingdom Department for Science, Innovation and Technology Publishes Artificial Intelligence Security Research Review

On July 10, 2026, the Department for Science, Innovation and Technology (DSIT) published a thematic review and gap analysis on the security of artificial intelligence (AI). The department commissioned Lancaster University to conduct the independent research, which examined peer-reviewed publications on AI security from January 2021 to January 2026. The review identified 9,109 relevant publications across 12 thematic areas, providing a comprehensive overview of the current state of research in AI security. The analysis revealed significant gaps in the existing literature, with five prevalent areas identified where further research is needed. DSIT undertook this review to develop a detailed understanding of research trends and deficiencies in AI security, contributing to the government's broader efforts to assess the cyber security implications of critical and emerging technologies. The findings support the UK government's work to enhance the nation's cyber resilience in response to technological advancement. The report represents independent research and does not constitute UK government policy; the views and findings are derived from Lancaster University's research leadership. This initiative forms part of the government's wider strategy to understand how emerging technologies, particularly AI, present both opportunities and security challenges to the United Kingdom's critical infrastructure and digital systems. The full thematic review and gap analysis is available on the GOV.UK website.
3318151 pc no date arahman Finland Ministry of Justice horizon scanning
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Finland's Ministry of Justice Seeks Consultation on Artificial Intelligence Biometric Identification Authorisation Procedures

On July 24, 2026, Finland's Ministry of Justice launched an additional consultation on implementing the European Union's Artificial Intelligence Regulation ((EU) 2024/1689) at the national level, specifically regarding authorisation procedures for post-remote biometric identification systems. The consultation addresses Article 26(10) of the EU Artificial Intelligence Regulation, which requires member states to establish authorisation procedures for post-remote biometric identification. A working group, established by the Ministry of Employment and Economy on April 25, 2024, has been preparing Finland's national implementation of the regulation. Following feedback from an initial consultation conducted by the Ministry of Employment and Economy on April 25, 2025 (reference VN/31658/2024), the Ministry of Justice refined the draft government proposal. The ministry now seeks additional feedback on the proposed authorisation procedure framework for post-remote biometric identification systems, which will be incorporated into a separate law implementing Article 26(10) of the EU regulation. The proposed regulation forms part of a broader government proposal scheduled for submission in week 43 of 2026. The consultation period is shorter than standard timelines because it addresses a narrow aspect of the broader proposal and stakeholders have already had one opportunity to comment on this specific element. Responses must be submitted by July 24, 2026, through the consultation service at lausuntopalvelu.fi or alternatively to the Ministry of Justice registry at [email protected] or by post to Sisäministeriö, PL 26, 00023 Valtioneuvosto. All submissions should reference case number VN/21235/2026. REFERENCES: https://intermin.fi/hankkeet/hankesivu?tunnus=SM014:00/2026

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1789 chars · nid 93944

Finland's Ministry of Justice Seeks Consultation on Artificial Intelligence Biometric Identification Authorisation Procedures

On July 24, 2026, Finland's Ministry of Justice launched an additional consultation on implementing the European Union's Artificial Intelligence Regulation ((EU) 2024/1689) at the national level, specifically regarding authorisation procedures for post-remote biometric identification systems. The consultation addresses Article 26(10) of the EU Artificial Intelligence Regulation, which requires member states to establish authorisation procedures for post-remote biometric identification. A working group, established by the Ministry of Employment and Economy on April 25, 2024, has been preparing Finland's national implementation of the regulation. Following feedback from an initial consultation conducted by the Ministry of Employment and Economy on April 25, 2025 (reference VN/31658/2024), the Ministry of Justice refined the draft government proposal. The ministry now seeks additional feedback on the proposed authorisation procedure framework for post-remote biometric identification systems, which will be incorporated into a separate law implementing Article 26(10) of the EU regulation. The proposed regulation forms part of a broader government proposal scheduled for submission in week 43 of 2026. The consultation period is shorter than standard timelines because it addresses a narrow aspect of the broader proposal and stakeholders have already had one opportunity to comment on this specific element. Responses must be submitted by July 24, 2026, through the consultation service at lausuntopalvelu.fi or alternatively to the Ministry of Justice registry at [email protected] or by post to Sisäministeriö, PL 26, 00023 Valtioneuvosto. All submissions should reference case number VN/21235/2026. REFERENCES: https://intermin.fi/hankkeet/hankesivu?tunnus=SM014:00/2026
3308842 pc no date kgurnani Australia Australian Prudential Regulation Authority horizon scanning
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Australian Prudential Regulation Authority Publishes Updated Guidelines on External Credit Assessment Institution Recognition

The Australian Prudential Regulation Authority (APRA) published updated guidelines on Recognition of an External Credit Assessment Institution (ECAI) following completion of its review. The guidelines were temporarily withdrawn in May 2026 to allow for comprehensive review and updating. The updated guidelines clarify the pathways for recognition as an ECAI and incorporate minor stylistic and drafting changes to improve clarity and accessibility. A key enhancement is the explicit inclusion of insurers alongside banks, recognising that insurers may also utilise credit ratings provided by ECAIs in their operations. This expansion reflects the broader application of ECAI recognition across APRA's regulated entities and ensures the guidelines comprehensively address the needs of all relevant institutions. APRA, as the prudential regulator of Australia's financial services industry, oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. The authority currently supervises institutions holding approximately $9.8 trillion in assets for Australian depositors, policyholders, and superannuation fund members. The updated guidelines are now available on APRA's website. Institutions seeking recognition as an ECAI or requiring further information should consult the published guidelines or contact APRA directly on 1300 558 849 for enquiries, or the APRA Media Unit on +61 2 9210 3636 for media-related matters.

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1543 chars · nid 93933

Australian Prudential Regulation Authority Publishes Updated Guidelines on External Credit Assessment Institution Recognition

The Australian Prudential Regulation Authority (APRA) published updated guidelines on Recognition of an External Credit Assessment Institution (ECAI) following completion of its review. The guidelines were temporarily withdrawn in May 2026 to allow for comprehensive review and updating. The updated guidelines clarify the pathways for recognition as an ECAI and incorporate minor stylistic and drafting changes to improve clarity and accessibility. A key enhancement is the explicit inclusion of insurers alongside banks, recognising that insurers may also utilise credit ratings provided by ECAIs in their operations. This expansion reflects the broader application of ECAI recognition across APRA's regulated entities and ensures the guidelines comprehensively address the needs of all relevant institutions. APRA, as the prudential regulator of Australia's financial services industry, oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. The authority currently supervises institutions holding approximately $9.8 trillion in assets for Australian depositors, policyholders, and superannuation fund members. The updated guidelines are now available on APRA's website. Institutions seeking recognition as an ECAI or requiring further information should consult the published guidelines or contact APRA directly on 1300 558 849 for enquiries, or the APRA Media Unit on +61 2 9210 3636 for media-related matters.
3313978 pc no date arahman Sweden News - Government horizon scanning
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Sweden's Government Tasks National Cybersecurity Center With Coordinating Artificial Intelligence Security Efforts

On July 9, 2026, the Swedish government assigned the National Cybersecurity Center (NCSC) at the Swedish Armed Forces Radio Institute (Försvarets radioanstalt, FRA) to coordinate and strengthen cybersecurity work related to artificial intelligence (AI) development across Swedish society. The assignment responds to cybersecurity challenges arising from rapid AI advancement. While AI models have significantly improved the ability to identify software vulnerabilities faster than previously possible, enabling organisations to detect and remediate security gaps more effectively, the same technology can be exploited by malicious actors to discover vulnerabilities and conduct advanced cyberattacks. Carl-Oskar Bohlin, Sweden's minister for civil defence, said the government is implementing a comprehensive billion-kronor investment to strengthen cybersecurity nationwide, with the NCSC serving as the hub. He added that AI model development necessitates accelerating cybersecurity efforts further. The NCSC has been tasked with coordinating work at the national level with relevant authorities to prevent, detect, and counter AI-driven cyber threats. This includes analysing risks, vulnerabilities, and dependencies linked to advanced AI model usage in cybersecurity, and identifying necessary measures. The NCSC will also coordinate Sweden's participation in relevant international and European forums addressing AI from a cybersecurity perspective, and serve as a contact point for companies developing advanced AI models. The NCSC must report orally to the government chancellery by November 13, 2026, on progress and findings from this assignment.

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1356 chars · nid 93913

Sweden's Government Tasks National Cybersecurity Center With Coordinating Artificial Intelligence Security Efforts

On July 9, 2026, the Swedish government assigned the National Cybersecurity Centre (NCSC) at the Swedish Armed Forces Radio Institute (Försvarets radioanstalt, FRA) to coordinate and strengthen cybersecurity work related to artificial intelligence (AI) development across Swedish society. The assignment responds to cybersecurity challenges arising from rapid AI advancement. While AI models have significantly improved the ability to identify software vulnerabilities faster than previously possible, enabling organisations to detect and remediate security gaps more effectively, the same technology can be exploited by malicious actors to discover vulnerabilities and conduct advanced cyberattacks. The NCSC has been tasked with coordinating work at the national level with relevant authorities to prevent, detect, and counter AI-driven cyber threats. This includes analysing risks, vulnerabilities, and dependencies linked to advanced AI model usage in cybersecurity, and identifying necessary measures. The NCSC will also coordinate Sweden's participation in relevant international and European forums addressing AI from a cybersecurity perspective, and serve as a contact point for companies developing advanced AI models. The NCSC must report orally to the government chancellery by November 13, 2026, on progress and findings from this assignment.
3311899 pc no date ggallwey Kyrgyzstan National Bank of the Kyrgyz Republic (NBKR) horizon scanning
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Kyrgyzstan's National Bank of the Kyrgyz Republic Amends Regulations on Specialized Financial Institution Licensing

On July 8, 2026, the National Bank of the Kyrgyz Republic (NBKR) adopted Resolution No. 2026-P-17/35-6-(NPA) introducing amendments to several regulatory legal acts concerning the licensing and regulation of specialized financial institutions. The resolution aims to support and develop the operations of specialized financial institutions by establishing clearer frameworks for their organizational and legal structures, permitted operations, regulatory requirements, and technical standards. The amendments specify the types of organizational forms these institutions may adopt, provide a comprehensive list of authorized operations, and set out regulatory and technical requirements for their operations. The resolution addresses key aspects of specialized financial institution governance, including licensing procedures, operational parameters, and compliance standards. By clarifying these regulatory requirements, the NBKR seeks to create a more transparent and predictable operating environment for specialized financial institutions operating within Kyrgyzstan's financial system. The full text of the resolution is available on the NBKR's official website under the section "About the Bank/Laws on Banking/Resolutions of the National Bank Board" at www.nbkr.kg. Interested parties and stakeholders can access the complete regulatory amendments through this portal to understand the specific modifications to licensing and regulatory requirements for specialized financial institutions.

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1498 chars · nid 93896

Kyrgyzstan's National Bank of the Kyrgyz Republic Amends Regulations on Specialized Financial Institution Licensing

On July 8, 2026, the National Bank of the Kyrgyz Republic (NBKR) adopted Resolution No. 2026-P-17/35-6-(NPA) introducing amendments to several regulatory legal acts concerning the licensing and regulation of specialized financial institutions. The resolution aims to support and develop the operations of specialized financial institutions by establishing clearer frameworks for their organizational and legal structures, permitted operations, regulatory requirements, and technical standards. The amendments specify the types of organizational forms these institutions may adopt, provide a comprehensive list of authorized operations, and set out regulatory and technical requirements for their operations. The resolution addresses key aspects of specialized financial institution governance, including licensing procedures, operational parameters, and compliance standards. By clarifying these regulatory requirements, the NBKR seeks to create a more transparent and predictable operating environment for specialized financial institutions operating within Kyrgyzstan's financial system. The full text of the resolution is available on the NBKR's official website under the section "About the Bank/Laws on Banking/Resolutions of the National Bank Board" at www.nbkr.kg. Interested parties and stakeholders can access the complete regulatory amendments through this portal to understand the specific modifications to licensing and regulatory requirements for specialized financial institutions.
3300638 pc no date kgurnani Australia Office of the Australian Information Commissioner horizon scanning
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Australia's Digital Platform Regulators Forum Strengthens Joint Oversight Through Memorandum of Understanding

On June 17, 2026, the Digital Platform Regulators Forum (DP-REG) signed a Memorandum of Understanding to strengthen coordination in regulating digital platforms across Australia. The agreement formalises how member regulators will share information and work together on cross-cutting issues, including scams, privacy, online safety and competition concerns. DP-REG comprises four member organisations: the Australian Competition and Consumer Commission (ACCC), the Australian Communications and Media Authority (ACMA), the eSafety Commissioner and the Office of the Australian Information Commissioner (OAIC). Formally established in March 2022, DP-REG enables its members to collaborate on issues where competition, consumer protection, privacy, online safety and data concerns intersect. Under the agreement, DP-REG members may share information where permitted by law and coordinate activity on matters of mutual interest relating to digital platforms. This includes responding to emerging risks, monitoring market developments and addressing issues associated with the conduct and market power of large digital platform operators. The Memorandum of Understanding recognises that digital platforms are complex and rapidly evolving, with consumer protection, competition, privacy and online safety issues often intersecting. The coordinated regulatory approach aims to address these shared challenges more effectively while reducing compliance costs for businesses and supporting international regulatory cooperation. While each regulator will continue to carry out its statutory functions independently, the agreement establishes a more structured approach to cooperation, building on existing collaboration between members. DP-REG's primary goals are to build regulatory capability, promote coherence across regulatory approaches and respond to emerging risks and opportunities in the digital platform sector.

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1916 chars · nid 93892

Australia's Digital Platform Regulators Forum Strengthens Joint Oversight Through Memorandum of Understanding

On June 17, 2026, the Digital Platform Regulators Forum (DP-REG) signed a Memorandum of Understanding to strengthen coordination in regulating digital platforms across Australia. The agreement formalises how member regulators will share information and work together on cross-cutting issues, including scams, privacy, online safety and competition concerns. DP-REG comprises four member organisations: the Australian Competition and Consumer Commission (ACCC), the Australian Communications and Media Authority (ACMA), the eSafety Commissioner and the Office of the Australian Information Commissioner (OAIC). Formally established in March 2022, DP-REG enables its members to collaborate on issues where competition, consumer protection, privacy, online safety and data concerns intersect. Under the agreement, DP-REG members may share information where permitted by law and coordinate activity on matters of mutual interest relating to digital platforms. This includes responding to emerging risks, monitoring market developments and addressing issues associated with the conduct and market power of large digital platform operators. The Memorandum of Understanding recognises that digital platforms are complex and rapidly evolving, with consumer protection, competition, privacy and online safety issues often intersecting. The coordinated regulatory approach aims to address these shared challenges more effectively while reducing compliance costs for businesses and supporting international regulatory cooperation. While each regulator will continue to carry out its statutory functions independently, the agreement establishes a more structured approach to cooperation, building on existing collaboration between members. DP-REG's primary goals are to build regulatory capability, promote coherence across regulatory approaches and respond to emerging risks and opportunities in the digital platform sector.
3307908 pc no date arahman European Union European Securities and Markets Authority horizon scanning
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European Securities and Markets Authority Launches Consultation on Central Securities Depository Regulation Guidelines Amendments

On May 26, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on amendments to its Guidelines on standardised procedures and messaging protocols under the Central Securities Depository Regulation (CSDR). The consultation period runs until July 7, 2026. The consultation paper addresses standardised procedures and messaging protocols applicable to central securities depositories (CSDs) and their participants. ESMA is seeking feedback from investment firms, credit institutions, their professional clients, CSDs, and CSD participants on proposed amendments to these guidelines. The consultation invites comments on all matters covered in the paper, with particular focus on specific questions detailed in Annex I of the consultation document. ESMA emphasises that responses should directly address the stated questions, clearly identify which question is being addressed, provide clear rationale for comments, and describe any alternative approaches ESMA should consider. All contributions must be submitted online using the provided response form in docx format. Following the close of the consultation, ESMA will publish all received contributions unless respondents explicitly request confidentiality. Respondents should clearly and prominently indicate any sections they do not wish to be publicly disclosed; standard confidentiality statements in email messages will not be treated as requests for non-disclosure. Personal data contained in submissions will be published as submitted unless respondents choose not to have their response published on the ESMA website. Stakeholders must submit responses by July 7, 2026, through ESMA's online consultation portal. The consultation paper and reply form are available for download on ESMA's website.

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1787 chars · nid 93889

European Securities and Markets Authority Launches Consultation on Central Securities Depository Regulation Guidelines Amendments

On May 26, 2026, the European Securities and Markets Authority (ESMA) launched a consultation on amendments to its Guidelines on standardised procedures and messaging protocols under the Central Securities Depository Regulation (CSDR). The consultation period runs until July 7, 2026. The consultation paper addresses standardised procedures and messaging protocols applicable to central securities depositories (CSDs) and their participants. ESMA is seeking feedback from investment firms, credit institutions, their professional clients, CSDs, and CSD participants on proposed amendments to these guidelines. The consultation invites comments on all matters covered in the paper, with particular focus on specific questions detailed in Annex I of the consultation document. ESMA emphasises that responses should directly address the stated questions, clearly identify which question is being addressed, provide clear rationale for comments, and describe any alternative approaches ESMA should consider. All contributions must be submitted online using the provided response form in docx format. Following the close of the consultation, ESMA will publish all received contributions unless respondents explicitly request confidentiality. Respondents should clearly and prominently indicate any sections they do not wish to be publicly disclosed; standard confidentiality statements in email messages will not be treated as requests for non-disclosure. Personal data contained in submissions will be published as submitted unless respondents choose not to have their response published on the ESMA website. Stakeholders must submit responses by July 7, 2026, through ESMA's online consultation portal. The consultation paper and reply form are available for download on ESMA's website.
3307336 pc no date rghosh Massachusetts News and Announcements | Mass.gov horizon scanning
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Massachusetts Attorney General Announces $45 Million Multistate Settlement With Block, Inc. Over Cash App Deceptive Practices

On July 8, 2026, Massachusetts Attorney General Andrea Joy Campbell announced a $45 million multistate settlement with Block, Inc., the company operating the peer-to-peer payments application Cash App. The settlement resolves allegations that Block misled consumers about Cash App's safety, failed to protect users from fraud, and failed to provide promised fraud protection and resolution required by law. Massachusetts will receive $730,000 under the settlement terms. The investigation found that Block advertised Cash App as safe while knowing fraud on the platform was rising sharply. Block promoted direct deposits of paychecks and government benefits into Cash App, particularly targeting unbanked and underbanked consumers who relied on the app as their primary financial account. However, Block's policies actively facilitated fraud: the sign-up process lacked identity verification, enabling fraudsters to create accounts; Cash App had no phone support for years, causing users to contact fake numbers operated by scammers; and Block ran the "Cash App Fridays" promotion encouraging users to publicly post their unique identifiers, which fraudsters exploited to steal login information. Users experienced prolonged account lockouts and received no recourse for unauthorized transactions. Under the settlement, Block must implement responsible practices including maintaining 24-hour customer support with human phone availability at least 13.5 hours daily and live chat at least 18 hours daily; ceasing false or misleading claims about Cash App's safety; discontinuing marketing practices known to increase fraud; directly educating consumers about fraud types; and fulfilling legal obligations to investigate fraud claims and reimburse users for unauthorized transactions. The settlement reaffirms Block's commitment to distribute between $75 million and $120 million to compensate consumers nationwide as part of a separate Consumer Financial Protection Bureau (CFPB) settlement.

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1980 chars · nid 93866

Massachusetts Attorney General Announces US$45m Multistate Settlement With Block, Inc. Over Cash App Deceptive Practices

On July 8, 2026, Massachusetts Attorney General Andrea Joy Campbell announced a US$45m multistate settlement with Block, Inc., the company operating the peer-to-peer payments application Cash App. The settlement resolves allegations that Block misled consumers about Cash App's safety, failed to protect users from fraud, and failed to provide promised fraud protection and resolution required by law. Massachusetts will receive US$730,000 under the settlement terms. The investigation found that Block advertised Cash App as safe while knowing fraud on the platform was rising sharply. Block promoted direct deposits of paychecks and government benefits into Cash App, particularly targeting unbanked and underbanked consumers who relied on the app as their primary financial account. However, Block's policies actively facilitated fraud: The sign-up process lacked identity verification, enabling fraudsters to create accounts. Cash App had no phone support for years, causing users to contact fake numbers operated by scammers. Block ran the "Cash App Fridays" promotion encouraging users to publicly post their unique identifiers, which fraudsters exploited to steal login information. Users experienced prolonged account lockouts and received no recourse for unauthorized transactions. Under the settlement, Block must implement responsible practices including maintaining 24-hour customer support with human phone availability at least 13.5 hours daily and live chat at least 18 hours daily; ceasing false or misleading claims about Cash App's safety; discontinuing marketing practices known to increase fraud; directly educating consumers about fraud types; and fulfilling legal obligations to investigate fraud claims and reimburse users for unauthorized transactions. The settlement reaffirms Block's commitment to distribute between US$75m and US$120m to compensate consumers nationwide as part of a separate Consumer Financial Protection Bureau (CFPB) settlement.
3308318 pc no date rghosh Argentina Ministry of Justice and Human Rights financial services
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Argentina's National Securities Commission Establishes Exceptions to Restricted Subjects Definition

Argentina's National Securities Commission (CNV) has introduced new exceptions to the definition of "Restricted Subjects" under General Resolution No. 1151 (RG N° 1151), expanding regulatory clarity for market participants. The CNV president, Roberto E. Silva, said the amendments reflect the commission's commitment to market transparency and integrity by clarifying the scope of restricted subject definitions and providing greater regulatory certainty. The new exceptions exempt two categories from restricted subject classification: the National Treasury and entities controlled directly or indirectly by financial institutions. These exemptions apply where entities are subject to special regulatory regimes and their principal activity consists of providing financial services, including professional wealth management services, securities brokerage services, fiduciary services, insurance and reinsurance services, leasing, payment management services, and technology services developed in open and competitive markets. Agents must observe specific conditions before processing transactions for restricted subjects. Daily nominal trading volume per security cannot exceed 25 percent of the average daily volume from the five preceding trading days when trading occurred in that security, or alternatively, five percent of the outstanding balance of that negotiable security. For public fixed-income securities, daily nominal trading volume cannot exceed five percent of the outstanding balance of the respective security. These volume and limit requirements do not apply to negotiable securities held in portfolio and acquired before the new regulation's entry into force, though other existing conditions for transactions in those securities remain in effect. The amendments take effect under RG N° 1154.

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1604 chars · nid 93865

Argentina's National Securities Commission Establishes Exceptions to Restricted Subjects Definition

On July 8, 2026 Argentina's National Securities Commission (CNV) introduced new exceptions to the definition of "Restricted Subjects" under General Resolution No. 1151 (RG N° 1151) , expanding regulatory clarity for market participants. The new exceptions exempt two categories from restricted subject classification: the National Treasury and entities controlled directly or indirectly by financial institutions. These exemptions apply where entities are subject to special regulatory regimes and their principal activity consists of providing financial services, including professional wealth management services, securities brokerage services, fiduciary services, insurance and reinsurance services, leasing, payment management services, and technology services developed in open and competitive markets. Agents must observe specific conditions before processing transactions for restricted subjects. Daily nominal trading volume per security cannot exceed 25% of the average daily volume from the five preceding trading days when trading occurred in that security, or alternatively, five percent of the outstanding balance of that negotiable security. For public fixed-income securities, daily nominal trading volume cannot exceed five percent of the outstanding balance of the respective security. These volume and limit requirements do not apply to negotiable securities held in portfolio and acquired before the new regulation's entry into force, though other existing conditions for transactions in those securities remain in effect. The amendments take effect upon publication in the gazette.
3303590 pc no date rghosh Colombia Financial Reguation Unit horizon scanning
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Colombia's Financial Regulation Unit Establishes Exceptions to Large Exposures Framework

On June 2026, Colombia's Financial Regulation Unit (URF) published a technical document proposing amendments to the large exposures regime for credit institutions. The proposals introduce specific exceptions to operations that currently count toward large exposure limits under Decree 1533 of 2022, which established a 10 percent threshold for identifying large exposures and a 25 percent individual counterparty limit based on basic capital. The URF identified operational distortions arising from three categories of transactions: foreign exchange settlement operations conducted through compensation accounts, receivables from merchant acquiring activities, and intraday or very short-term payment system operations. Although these transactions can reach significant amounts temporarily, they are characterized by transitional nature, low balance sheet permanence, absence of discretionary risk assumption, and no economic financing relationship. Currently, these operations count toward large exposure limits, creating technical breaches despite being driven by exogenous factors such as time zone differences, settlement cycles, and market infrastructure dependencies. The URF determined this treatment overestimates concentration risk and inefficiently allocates regulatory capital. The proposal adds two new exceptions to Article 2.1.2.1.4 of Decree 2555 of 2010. First, foreign exchange spot operations settled through Bank of the Republic compensation accounts would be excluded up to T+3 (three business days following negotiation). Second, receivables from merchant acquiring activities, including tax payment operations channeled through authorized banks to the National Tax and Customs Directorate (DIAN), would be excluded. The proposals align with Basel Committee standards and practices in the European Union and Australia, which similarly exclude technical settlement flows from large exposure calculations. Additionally, the URF proposes granting Financiera de Desarrollo Nacional (FDN), a state development bank, a differentiated treatment permitting exposure limits up to 45 percent of the capital base for infrastructure project financing, subject to board approval and documentation submitted to the Financial Superintendency of Colombia. The URF received comments from 14 stakeholders between May 12 and May 27, 2026, and incorporated several clarifications regarding foreign exchange settlement timelines and compensation account definitions. The regulations enter into force upon publication, with the Financial Superintendency of Colombia required to issue implementing instructions within six months.

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1954 chars · nid 93849

Colombia's Financial Regulation Unit Establishes Exceptions to Large Exposures Framework

In June 2026, Colombia's Financial Regulation Unit (URF) published a technical document proposing amendments to the large exposures regime for credit institutions under Decree 2555 of 2010. The URF received comments from 14 stakeholders between May 12 and 27, 2026, and incorporated several clarifications before finalizing the draft. The principal changes are: New exemption for foreign exchange settlement transactions: Foreign exchange spot operations settled through Banco de la República compensation accounts are excluded from the large exposure limit calculation, provided settlement occurs within three business days following negotiation. New exemption for acquiring and tax payment transactions: Receivables arising from merchant acquiring activities  including tax payment flows channeled through authorized banks to the National Tax and Customs Directorate (DIAN) are excluded from the large exposure limit calculation, provided settlement does not exceed one business day. Internal controls requirement for exempted transactions: Credit institutions must establish internal policies, controls, and capital-referenced limits for managing concentration risk arising from all exempted transaction categories, in accordance with instructions from the Financial Superintendency of Colombia. Differentiated large exposure limit for the FDN: The National Development Finance Corporation (FDN) may, subject to Board of Directors approval and submission of a project-specific technical document to the Financial Superintendency of Colombia, set large exposure limits of up to 45 percent of its capital base for the financing of infrastructure projects executed through Public-Private Partnership schemes, public works contracts, or the specialized financing of high-quality projects. The regulations enter into force upon publication, with the Financial Superintendency of Colombia required to issue implementing instructions within six months.
3303417 pc no date csoo Ireland Statutory Instruments - Irish Statute Book financial services
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Ireland's Minister for Justice Establishes Administrative Sanctions Framework for Money Laundering and Terrorist Financing Compliance

On June 29, 2026, Ireland's Minister for Justice, Home Affairs and Migration enacted Statutory Instrument No. 307/2026, establishing a comprehensive administrative sanctions regime for money laundering and terrorist financing violations. The regulations implement Directive (EU) 2024/1640 of the European Parliament and of the Council of May 31, 2024, which requires Member States to establish mechanisms for preventing the misuse of the financial system for money laundering or terrorist financing purposes. The framework introduces a new Chapter 11 to the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, creating an adjudication system to investigate and sanction breaches of relevant obligations by trust and company service providers. The Minister appoints independent adjudication officers—practitioners with at least ten years' standing as barristers or solicitors—to conduct investigations and impose administrative sanctions. These sanctions take two forms: financial penalties capped at the greater of twice any derived benefit or €1,000,000; and daily penalty payments not exceeding two percent of an individual's average daily income or three percent of a provider's average daily turnover. The regulations establish procedural safeguards including commitment agreements allowing providers to remedy compliance issues without formal sanctions, detailed investigation protocols, oral hearing provisions, and appellate review mechanisms through the Circuit Court and High Court. Adjudication officers possess powers comparable to High Court judges, including witness examination and document production authority. The framework incorporates proportionality requirements, ensuring sanctions reflect breach severity and deter future violations while preserving provider viability. The regulations came into operation on June 30, 2026, and apply to acts or omissions occurring after that date. Notice of the statutory instrument's making was published in Iris Oifigiúil on July 3, 2026.

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2017 chars · nid 93839

Ireland's Minister for Justice Establishes Administrative Sanctions Framework for Money Laundering and Terrorist Financing Compliance

On June 29, 2026, Ireland's Minister for Justice, Home Affairs and Migration enacted Statutory Instrument No. 307/2026, establishing a comprehensive administrative sanctions regime for money laundering and terrorist financing violations. The regulations implement Directive (EU) 2024/1640 of the European Parliament and of the Council of May 31, 2024, which requires Member States to establish mechanisms for preventing the misuse of the financial system for money laundering or terrorist financing purposes. The framework introduces a new Chapter 11 to the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, creating an adjudication system to investigate and sanction breaches of relevant obligations by trust and company service providers. The Minister appoints independent adjudication officers—practitioners with at least ten years' standing as barristers or solicitors—to conduct investigations and impose administrative sanctions. These sanctions take two forms: financial penalties capped at the greater of twice any derived benefit or €1,000,000; and daily penalty payments not exceeding two percent of an individual's average daily income or three percent of a provider's average daily turnover. The regulations establish procedural safeguards including commitment agreements allowing providers to remedy compliance issues without formal sanctions, detailed investigation protocols, oral hearing provisions, and appellate review mechanisms through the Circuit Court and High Court. Adjudication officers possess powers comparable to High Court judges, including witness examination and document production authority. The framework incorporates proportionality requirements, ensuring sanctions reflect breach severity and deter future violations while preserving provider viability. The regulations came into operation on June 30, 2026, and apply to acts or omissions occurring after that date. Notice of the statutory instrument's making was published in Iris Oifigiúil on July 3, 2026.
3305834 pc no date csoo United Kingdom Bank of England financial services
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Bank of England Sets Financial Market Infrastructure Supervision Fees for Central Counterparties and Central Securities Depositories 2026/27

On July 8, 2026, the Bank of England published a policy statement confirming its fees regime for financial market infrastructure (FMI) supervision for the 2026/27 fee year, which runs from March 1, 2026 to February 28, 2027. The statement provides feedback to five consultation responses received between April 17 and May 18, 2026, and confirms fee rates for central counterparties (CCPs) and central securities depositories (CSDs). The Bank of England Levy will total £700 million for 2026/27, comprising £357 million in operational policy costs and £343 million in costs of transition from the legacy Cash Ratio Deposit scheme. This represents a £104 million increase from 2025/26, reflecting higher interest differentials between Bank Rate and returns on the legacy gilt portfolio. The overall core levies are constrained to increase by no more than Consumer Price Index inflation at 3 percent. For FMI supervision specifically, category 1 CCPs will pay £3.92 million (including £0.58 million for rulebook development), category 2 CCPs will pay £2.24 million, and category 1 CSDs will pay £1.80 million. The Bank extended the phased recovery period for UK CCP rulebook costs, maintaining the 2026/27 instalment at £1.50 million and deferring excess costs to 2027/28. Non-UK CCPs and CSDs face separate fee structures based on risk categorisation. The Bank confirmed it will begin levying supervision fees for the Digital Securities Sandbox in 2026/27. Invoices for the 2026/27 fee year are expected to be issued before August 31, 2026. The Bank will consult separately on annual supervision fees for recognised payment systems and specified service providers once HM Treasury completes its consultation on increasing the statutory fee cap for these entities. All FMIs currently paying FMI supervisory fees or expecting to do so within the 2026/27 fee year are subject to this regime.

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1888 chars · nid 93837

Bank of England Sets Financial Market Infrastructure Supervision Fees for Central Counterparties and Central Securities Depositories 2026/27

On July 8, 2026, the Bank of England published a policy statement confirming its fees regime for financial market infrastructure (FMI) supervision for the 2026/27 fee year, which runs from March 1, 2026 to February 28, 2027. The statement provides feedback to five consultation responses received between April 17 and May 18, 2026, and confirms fee rates for central counterparties (CCPs) and central securities depositories (CSDs). The Bank of England Levy will total £700 million for 2026/27, comprising £357 million in operational policy costs and £343 million in costs of transition from the legacy Cash Ratio Deposit scheme. This represents a £104 million increase from 2025/26, reflecting higher interest differentials between Bank Rate and returns on the legacy gilt portfolio. The overall core levies are constrained to increase by no more than Consumer Price Index inflation at 3 percent. For FMI supervision specifically, category 1 CCPs will pay £3.92 million (including £0.58 million for rulebook development), category 2 CCPs will pay £2.24 million, and category 1 CSDs will pay £1.80 million. The Bank extended the phased recovery period for UK CCP rulebook costs, maintaining the 2026/27 instalment at £1.50 million and deferring excess costs to 2027/28. Non-UK CCPs and CSDs face separate fee structures based on risk categorisation. The Bank confirmed it will begin levying supervision fees for the Digital Securities Sandbox in 2026/27. Invoices for the 2026/27 fee year are expected to be issued before August 31, 2026. The Bank will consult separately on annual supervision fees for recognised payment systems and specified service providers once HM Treasury completes its consultation on increasing the statutory fee cap for these entities. All FMIs currently paying FMI supervisory fees or expecting to do so within the 2026/27 fee year are subject to this regime.
3304584 pc no date arahman Ukraine All News - NBU financial services
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Ukraine's National Bank Applies Enforcement Measures to Four Banks and One Non-Bank Financial Institution

On July 7, 2026, the National Bank of Ukraine (NBU) announced that it had applied enforcement measures to four banks and one non-bank financial institution in June 2026 for violations of anti-money laundering and counter-terrorism financing (AML/CTF) legislation and foreign exchange regulations. The NBU imposed the following measures: PUMB Bank received a fine of 10,000,000 Ukrainian hryvnia (UAH) and a written warning for multiple violations including failure to conduct proper due diligence on new and existing customers, failure to apply enhanced due diligence measures for high-risk clients, failure to apply a risk-based approach to clients whose beneficial owners are citizens of states conducting armed aggression against Ukraine, and untimely reporting of threshold financial transactions. Ukrsibbank received a fine of 400,000 UAH for failing to develop and implement adequate internal AML/CTF documentation. Tascombank received a fine of 200,000 UAH for inadequate application of a risk-based approach in its operations. Universal Bank received a written warning for insufficient due diligence on existing customers. AI Lombard, a non-bank financial institution, received fines totalling 4,196,000 UAH and two written warnings for multiple violations including inadequate organisation and conduct of primary financial monitoring, failure to develop proper internal AML/CTF documentation, insufficient due diligence procedures, failure to apply a risk-based approach, inadequate measures for politically exposed persons, incomplete provision of information to the NBU, and violations of foreign exchange regulations including failure to document procedures for currency exchange operations and failure to maintain proper currency reserves. These enforcement actions reflect the NBU's ongoing supervision of financial institutions' compliance with AML/CTF and foreign exchange legislation.

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1903 chars · nid 93834

Ukraine's National Bank Applies Enforcement Measures to Four Banks and One Non-Bank Financial Institution

On July 7, 2026, the National Bank of Ukraine (NBU) announced that it had applied enforcement measures to four banks and one non-bank financial institution in June 2026 for violations of anti-money laundering and counter-terrorism financing (AML/CTF) legislation and foreign exchange regulations. The NBU imposed the following measures: PUMB Bank received a fine of 10,000,000 Ukrainian hryvnia (UAH) and a written warning for multiple violations including failure to conduct proper due diligence on new and existing customers, failure to apply enhanced due diligence measures for high-risk clients, failure to apply a risk-based approach to clients whose beneficial owners are citizens of states conducting armed aggression against Ukraine, and untimely reporting of threshold financial transactions. Ukrsibbank received a fine of 400,000 UAH for failing to develop and implement adequate internal AML/CTF documentation. Tascombank received a fine of 200,000 UAH for inadequate application of a risk-based approach in its operations. Universal Bank received a written warning for insufficient due diligence on existing customers. AI Lombard, a non-bank financial institution, received fines totalling 4,196,000 UAH and two written warnings for multiple violations including inadequate organisation and conduct of primary financial monitoring, failure to develop proper internal AML/CTF documentation, insufficient due diligence procedures, failure to apply a risk-based approach, inadequate measures for politically exposed persons, incomplete provision of information to the NBU, and violations of foreign exchange regulations including failure to document procedures for currency exchange operations and failure to maintain proper currency reserves. These enforcement actions reflect the NBU's ongoing supervision of financial institutions' compliance with AML/CTF and foreign exchange legislation.
3302879 pc no date arahman European Union European Central Bank financial services
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European Central Bank Introduces Climate Factors Into Collateral Framework for Corporate Bonds

On June 15, 2026, the European Central Bank (ECB) introduced climate factors into its collateral framework to address financial losses linked to climate change. The climate factors ensure that firms' vulnerability to transition shocks are considered when assessing the value of corporate bonds used as collateral in lending to banks. The ECB lends money to banks to steer short-term interest rates and maintain inflation close to its target. To mitigate financial risks when granting these loans, the ECB requests high-quality collateral and applies risk control measures including "haircuts"—reductions in the value assigned to collateral assets to maintain a safety buffer. Climate change introduces unprecedented and potentially severe economic consequences that may not be reflected in historical price data used to calibrate asset haircuts. Unexpected transition shocks linked to the move towards a low-carbon economy can affect firms' business models, profitability, and asset values. Climate factors further reduce the value the ECB assigns to certain corporate bonds depending on the issuer's exposure to climate-related uncertainties. The ECB constructs an uncertainty score for each corporate bond using a two-step approach. The score comprises three components: stressor (potential impact of a transition shock on financial asset values by sector); exposure (assessed at firm level using greenhouse gas emissions, decarbonisation targets and climate disclosures); and vulnerability (represented by the square root of the asset's residual maturity). Bonds issued by firms with higher emissions, weaker transition plans or less comprehensive climate disclosures, as well as bonds with longer residual maturities, receive higher uncertainty scores. In the second step, uncertainty scores are transformed into climate factors rescaled to vary within a narrow range set by the ECB's Governing Council. Climate factors represent an additional reduction in collateral value on top of regular valuation haircuts. The ECB's Governing Council will regularly review climate factors to reflect new data, regulatory developments and advances in risk assessment capabilities.

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2174 chars · nid 93833

European Central Bank Introduces Climate Factors Into Collateral Framework for Corporate Bonds

On June 15, 2026, the European Central Bank (ECB) introduced climate factors into its collateral framework to address financial losses linked to climate change. The climate factors ensure that firms' vulnerability to transition shocks are considered when assessing the value of corporate bonds used as collateral in lending to banks. The ECB lends money to banks to steer short-term interest rates and maintain inflation close to its target. To mitigate financial risks when granting these loans, the ECB requests high-quality collateral and applies risk control measures including "haircuts"—reductions in the value assigned to collateral assets to maintain a safety buffer. Climate change introduces unprecedented and potentially severe economic consequences that may not be reflected in historical price data used to calibrate asset haircuts. Unexpected transition shocks linked to the move towards a low-carbon economy can affect firms' business models, profitability, and asset values. Climate factors further reduce the value the ECB assigns to certain corporate bonds depending on the issuer's exposure to climate-related uncertainties. The ECB constructs an uncertainty score for each corporate bond using a two-step approach. The score comprises three components: stressor (potential impact of a transition shock on financial asset values by sector); exposure (assessed at firm level using greenhouse gas emissions, decarbonisation targets and climate disclosures); and vulnerability (represented by the square root of the asset's residual maturity). Bonds issued by firms with higher emissions, weaker transition plans or less comprehensive climate disclosures, as well as bonds with longer residual maturities, receive higher uncertainty scores. In the second step, uncertainty scores are transformed into climate factors rescaled to vary within a narrow range set by the ECB's Governing Council. Climate factors represent an additional reduction in collateral value on top of regular valuation haircuts. The ECB's Governing Council will regularly review climate factors to reflect new data, regulatory developments and advances in risk assessment capabilities.
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