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3370004 pc Aug 03, 2026 rghosh US Track 3 FINRA -Guidance financial services
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Financial Industry Regulatory Authority Issues Cybersecurity Alert on Heightened Threats From Iranian Cyber Actors

On March 16, 2026, the Financial Industry Regulatory Authority (FINRA) issued a cybersecurity alert warning member firms of elevated risks from Iranian state-sponsored and Iran-aligned threat actors. Although FINRA is not aware of significant Iran-related cyberattacks against the financial services industry as of the alert date, it noted that Iranian threat actors are actively targeting U.S. financial institutions and critical infrastructure sectors amid ongoing geopolitical tensions in the Middle East. Iranian actors have historically demonstrated capability and intent to conduct disruptive and destructive cyber operations against U.S. organizations, particularly during periods of heightened geopolitical tension. FINRA identified common tactics, techniques and procedures (TTPs) used by Iranian threat actors, including gaining initial access through credential compromise via password spraying, brute-force attacks, spear phishing, social engineering, and exploitation of known vulnerabilities in internet-facing systems. For persistence and expansion, actors employ multi-factor authentication (MFA) bypass techniques such as "push bombing," modify MFA registrations, harvest credentials, and target third-party service providers. Disruptive actions include ransomware deployment, destructive wiper malware, distributed denial-of-service (DDoS) attacks, and hack-and-leak operations. FINRA recommended member firms prioritize defensive measures including vendor and third-party risk management, asset management and visibility of internet-facing systems, deployment of phishing-resistant MFA, ongoing security awareness training, vulnerability and patch management, security monitoring with retained logs, incident response planning, and maintenance of regularly tested backups. Member firms identifying data breaches should contact their Risk Monitoring Analyst and report incidents to FINRA via the Regulatory Tip Form, the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Cybersecurity and Infrastructure Security Agency (CISA).

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US Financial Industry Regulatory Authority Issues Cybersecurity Alert on Heightened Threats From Iranian Cyber Actors

On March 16, 2026, the Financial Industry Regulatory Authority (FINRA) issued a cybersecurity alert warning member firms of elevated risks from Iranian state-sponsored and Iran-aligned threat actors. Although FINRA is not aware of significant Iran-related cyberattacks against the financial services industry as of the alert date, it noted that Iranian threat actors are actively targeting U.S. financial institutions and critical infrastructure sectors amid ongoing geopolitical tensions in the Middle East. FINRA identified common tactics, techniques and procedures (TTPs) used by Iranian threat actors, including: Gaining initial access through credential compromise via password spraying. Brute-force attacks. Spear phishing. Social engineering. Exploitation of known vulnerabilities in internet-facing systems. For persistence and expansion, actors employ multi-factor authentication (MFA) bypass techniques such as "push bombing," modify MFA registrations, harvest credentials, and target third-party service providers. Disruptive actions include ransomware deployment, destructive wiper malware, distributed denial-of-service (DDoS) attacks, and hack-and-leak operations. FINRA recommended member firms prioritize defensive measures including vendor and third-party risk management, asset management and visibility of internet-facing systems, deployment of phishing-resistant MFA, ongoing security awareness training, vulnerability and patch management, security monitoring with retained logs, incident response planning, and maintenance of regularly tested backups. Member firms identifying data breaches should contact their Risk Monitoring Analyst and report incidents to FINRA via the Regulatory Tip Form, the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Cybersecurity and Infrastructure Security Agency (CISA).
3368722 pc Aug 03, 2026 tojuri Cyprus News financial services
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Cyprus Central Bank Introduces Pre-Application Exploratory Stage for Electronic Money and Payment Institution Licensing

On July 31, 2026, the Central Bank of Cyprus (CBC) announced changes to its licensing process for electronic money institutions and payment institutions, effective August 3, 2026. The CBC introduced a new pre-application exploratory stage that entities must complete before submitting a formal licensing application. During the pre-application exploratory stage, interested entities must submit specific information to the CBC for preliminary assessment. The CBC will charge a non-refundable fee of €5,000 for participation in this stage. The exploratory stage serves two primary objectives: enhancing transparency and improving entities' understanding of the CBC's licensing requirements and expectations, and facilitating early identification of issues that may affect subsequent application assessment, particularly regarding the criterion of good repute. The CBC also implemented additional changes to the overall licensing process. The fee for submitting a licensing application for an institution increased from €5,000 to €10,000. The CBC may require entities during the pre-application exploratory stage or applicants during assessment to submit an enhanced due diligence report prepared by a firm with relevant expertise. Inactive applications will be deemed withdrawn after a predefined period of non-response to comments or requests issued by the CBC. These changes form part of the CBC's comprehensive licensing and supervisory strategy for the electronic money institution and payment institution sector, as announced on December 20, 2024. Entities intending to submit licensing applications are encouraged to consult the CBC website for further details or contact the Licensing Section at LicensingSection@centralbank.cy.

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Central Bank of Cyprus Introduces New Licensing Process for E-Money Institutions and Payment Institutions

On July 31, 2026, the Central Bank of Cyprus (CBC) announced changes to its licensing process for electronic money institutions and payment institutions, effective August 3, 2026. The CBC introduced a new pre-application exploratory stage that entities must complete before submitting a formal licensing application. During the pre-application exploratory stage, interested entities must submit specific information to the CBC for preliminary assessment. The CBC will charge a non-refundable fee of €5,000 for participation in this stage. The exploratory stage serves two primary objectives: enhancing transparency and improving entities' understanding of the CBC's licensing requirements and expectations, and facilitating early identification of issues that may affect subsequent application assessment, particularly regarding the good repute criterion. The CBC also implemented additional changes to the overall licensing process. The fee for submitting a licensing application for an institution increased from €5,000 to €10,000. The CBC may require entities during the pre-application exploratory stage or applicants during assessment to submit an enhanced due diligence report prepared by a firm with relevant expertise. Inactive applications will be deemed withdrawn after a predefined period of non-response to comments or requests issued by the CBC. These changes form part of the CBC's comprehensive licensing and supervisory strategy for the electronic money institution and payment institution sector. Entities intending to submit licensing applications are encouraged to consult the CBC's website for further details or contact the Licensing Section at LicensingSection@centralbank.cy .
3369304 pc Aug 03, 2026 tojuri Spain Public Treasury horizon scanning
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Spain's Public Treasury Publishes National Strategic Plan to Combat Money Laundering for 2026-2030

On June 26, 2026, Spain's Commission for the Prevention of Money Laundering and Monetary Offenses (COPBLAC) published its National Strategic Plan to Combat Money Laundering (2026-2030), a comprehensive framework designed to strengthen the country's institutional response to evolving money laundering threats. The plan represents the first cohesive national strategy to address money laundering from a systemic perspective, aligning Spain's preventive framework with emerging risks identified in the 2026 National Risk Assessment and European Union regulatory developments. The Strategic Plan identifies six critical emerging trends affecting Spain: the growing use of crypto-assets and blockchain technology to obscure illicit fund flows; the intensive use of complex corporate structures to conceal beneficial ownership; the professionalisation of money laundering through "crime-as-a-service" networks; the exponential rise in digital fraud as a predicate offence; the misuse of artificial intelligence and deepfakes in identity theft and account opening; and the convergence of traditional and digital channels in money laundering schemes. The plan establishes six strategic objectives encompassing prevention, detection, prosecution, regulatory adaptation, private sector effectiveness, and inter-agency cooperation. Key measures include enhancing the Spanish Financial Intelligence Unit's (SEPBLAC) technological capabilities through artificial intelligence and data analytics; strengthening beneficial ownership transparency via the Central Register of Beneficial Ownership (RCTIR); implementing a three-year supervisory strategy; developing a National Asset Recovery Strategy; transposing recent European Union directives on money laundering prevention and asset recovery; and establishing collaborative mechanisms with the new European Union Anti-Money Laundering and Terrorist Financing Authority (ALBC). The COPBLAC will oversee implementation through annual monitoring reports assessing compliance with objectives and measures. The Financial Intelligence Task Force (GOIF) will examine progress prior to COPBLAC review. Regular consultation mechanisms with private sector associations will inform implementation and identify practical difficulties. A final compliance report will be approved before developing the subsequent strategic plan.

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Spain's Treasury Publishes National Strategic Plan to Combat Money Laundering for 2026-2030

On July 31, 2026, Spain's Treasury published the Commission for the Prevention of Money Laundering and Monetary Offences' (COPBLAC) National Strategic Plan to Combat Money Laundering (2026-2030), a comprehensive framework designed to protect the integrity of the financial system against its use for money laundering (ML) purposes, and to strengthen a coordinated, effective and risk-based institutional response. The plan represents the first cohesive national strategy to address money laundering from a systemic perspective, aligning Spain's preventive framework with emerging risks identified in the 2026 National Risk Assessment and European Union regulatory developments. The strategic plan identifies four critical emerging trends affecting Spain: Blockchain and money laundering, with the growing use of crypto-assets and blockchain technology to obscure illicit fund flows. The intensive use of complex corporate structures to conceal beneficial ownership. The professionalisation of money laundering through "crime-as-a-service" networks. The rise in digital fraud as a predicate offence, including the misuse of artificial intelligence and deepfakes in identity theft and account opening The plan establishes six strategic objectives encompassing prevention, detection, prosecution, regulatory adaptation, private sector effectiveness and inter-agency cooperation. Key areas of action include: Aligning the resources and capabilities of the national money laundering system with the identified risks. Promoting the use of new technologies in the ML detection phase, with a view to improving the system’s detection capabilities. Increasing the transparency, quality and accessibility of information on beneficial ownership. Strengthening the capabilities of the competent authorities to investigate money laundering. Adapting the national legal framework to changes at the European level. Strengthening cooperation with the new European Anti-Money Laundering Authority. Strengthening cooperation between national authorities within the system. COPBLAC will oversee implementation through annual monitoring reports that assess compliance with objectives and measures. The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (SEPBLAC) will coordinate COPBLAC's activities relating to the strategic plan. This includes facilitating the collection of information necessary for monitoring, coordinating contributions from various participating bodies and institutions, and preparing the annual monitoring reports and final compliance report. The strategic plan also takes into account the need for collaboration with the private sector, through regular consultation mechanisms, to ascertain their views on the application of the planned measures, identify any practical difficulties in their implementation and gather information on their impact on the preventive activities carried out by regulated entities.
3368649 pc Aug 03, 2026 msolomon Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank Establishes Procedures for Debit Transfers Without Payer Consent

On July 31, 2026, the National Bank of Ukraine (NBU) established procedures for payment service providers to execute debit transfers of funds without payer consent, including forced collection and levy of funds for tax debt repayment. The new rules address situations where insufficient or absent funds exist in a payer's account at the time a payment service provider receives a payment instruction from a collector. The NBU introduced these changes following proposals from Ukraine's State Tax Service in connection with the implementation of an electronic fund collection mechanism for tax debt repayment, which operates using the international ISO 20022 standard. The NBU amended the Instruction on Non-Cash Settlements in National Currency for Payment Services Users, originally approved by the NBU Board Decision No. 163 of July 29, 2022. The amendments enhance the procedure for accumulating funds in a payer's account when funds are absent or insufficient to execute a collector's payment instruction, thereby improving the efficiency of payment instruction execution. The NBU also strengthened requirements for completing the mandatory "Payer Code/Actual Payer Code/Transfer Service Payer Code" field when payers settle taxes, fees, and payments to state and local budgets. The NBU Board Resolution No. 83 of July 30, 2026, "On Approval of Amendments to the Instruction on Non-Cash Settlements in National Currency for Payment Services Users," takes effect on August 1, 2026. Payment service providers have one month from the effective date to align their operations with the updated regulatory requirements. REFERENCES: National Bank of Ukraine, "Унормовано порядок виконання дебетового переказу коштів без згоди платника" (Procedures for Debit Transfers Without Payer Consent Established), July 31, 2026, https://www.bank.gov.ua/ National Bank of Ukraine Board Resolution No. 83, "Про затвердження Змін до Інструкції про безготівкові розрахунки в національній валюті користувачів платіжних послуг" (On Approval of Amendments to the Instruction on Non-Cash Settlements in National Currency for Payment Services Users), July 30, 2026.

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Ukraine Publishes Resolution On Procedure for Debit Transfers Without Payer's Consent

On July 31, 2026, Ukraine published the Resolution "On the Approval of Amendments to the Instructions on Non-Cash Settlements in the National Currency for Payment Service Users". This regulates the procedure for payment service providers performing debit transfers of funds without the payer's consent, including for the repayment of tax debt. In line with the introduction of a mechanism for the electronic collection of funds for tax debt repayment, built on the use of the international standard ISO 20022, the State Tax Service of Ukraine submitted proposals for changes to the National Bank. Therefore the National Bank has amended the Instructions on non-cash payments in the national currency of payment service users, approved by the decision of the Board of the National Bank of Ukraine No. 163 (as amended) dated July 29, 2022, which includes the following changes: An improved procedure for accumulating funds in the payer's account in the event of their absence or insufficiency to fulfill the collector's payment instruction in order to increase the efficiency of the procedure for fulfilling the collector's payment instructions. Strengthened requirements for filling in the mandatory details "Payer code / actual payer / payer for the funds transfer service" when paying taxes, fees, and payments to the state and local budgets. These amendments come into force on August 1, 2026.
3367953 pc Jul 31, 2026 pdonofrio US Track 2 Federal Reserve Board horizon scanning
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Federal Reserve Board Requests Comment on Proposal to Modernize Mutual Banking Organization Rules

On July 31, 2026, the Federal Reserve Board (FRB) requested comment on a proposal to modernize rules governing mutual banking organizations. Mutual banks are owned by depositors rather than shareholders, with more than 90 percent holding less than $3 billion in total assets. The FRB assumed regulatory and supervisory authority over mutual banks from the Office of Thrift Supervision in 2011. The existing rules, first established in 1993, have not been updated for 30 years and have become overly burdensome and complex. The proposal aims to modernize the regulatory framework and increase flexibility for mutual banks to raise capital. Key changes include clarifying which instruments count as regulatory capital and reducing procedural burdens across the framework. The modernization is intended to allow mutual banks to continue growing and more effectively serve communities across the country while preserving their unique depositor-owned structure. Federal Reserve Vice Chair for Supervision Michelle W. Bowman said the proposal represents "an important step in our work to modernize the bank regulatory framework" and that the continued success of the mutual bank model "contributes to the institutional diversity of the U.S. banking system, which is one of the greatest strengths of our financial system." The comment period closes 60 days after publication in the Federal Register. Interested parties should submit responses within this timeframe. The FRB has published a Federal Register notice titled "Regulatory Modernization and Relief for Mutual Holding Companies" and a supporting board memo providing additional details on the proposal.

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US Federal Reserve Board Requests Comment on Proposal to Modernize Mutual Banking Organization Rules

On July 31, 2026, the US Federal Reserve Board (FRB) announced a request for comment on a proposal to modernize rules governing mutual banking organizations, defined as banking organizations owned by depositors rather than shareholders, and with more than 90 percent of depositors holding less than $3bn in total assets. According to the FRB, the existing rules, first established in 1993, have not been updated for 30 years and have become overly burdensome and complex. The proposal aims to increase flexibility for certain mutual banks to raise capital while preserving their unique depositor-owned structure, with key changes including: Clarification of regulatory capital; outlining and clarifying which financial instruments will count as regulatory capital for mutual banks. Reduction of procedural burdens; introducing comprehensive updates designed to reduce the procedural and administrative burdens currently placed on these institutions. Support for community growth; easing restrictions to allow mutual banks to more effectively serve their local communities. Interested parties may submit comments on the proposal until September 29, 2026 at this link .
3367952 pc Jul 31, 2026 pdonofrio US Track 2 Federal Reserve Board horizon scanning
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Federal Reserve Board Requests Comment on Proposal to Modernize Insider Lending Rule

On July 31, 2026, the Federal Reserve Board (FRB) requested comment on a proposal to modernize Regulation O, which governs the extension of credit to bank "insiders"—bank executives, board members, and major shareholders who could potentially influence a bank's lending decisions. Regulation O has not undergone comprehensive updates since 1979. The proposal updates dollar-based thresholds and indexes them to economic growth going forward, addressing a unique challenge for community banks where board members and executives are often local business owners and civic leaders. The modernization maintains safeguards against preferential treatment while simplifying the rule's application. Key changes include updating outdated thresholds, addressing unnecessary applications of the rule to passive interests in companies held by investment funds, codifying statutory requirements, incorporating long-standing regulatory interpretations, and streamlining overall compliance standards. Michelle W. Bowman, Vice Chair for Supervision, said the proposal "modernizes Regulation O by updating outdated dollar-based thresholds and ensuring their future relevance, while preserving necessary safeguards." Bowman noted that community banks often face challenges recruiting experienced business leaders to serve as board members and executives, and that the rule recognizes the value of business owners' expertise by providing clearer, more straightforward standards that protect against potential conflicts of interest while supporting effective governance. The comment period closes 60 days after publication in the Federal Register. Interested parties can submit responses through the Federal Register notice titled "Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Bank Holding Companies." REFERENCES: - Federal Reserve Board Press Release, July 31, 2026: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260731a.htm

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US Federal Reserve Board Requests Comment on Proposal to Modernize Insider Lending Rule

On July 31, 2026, the US Federal Reserve Board (FRB) announced a request for comment on a proposal to modernize Regulation O , which governs the extension of credit to bank "insiders" (i.e., bank executives, board members and major shareholders potentially influencing a bank's lending decisions). The proposal would update US dollar-based thresholds for lending, as well indexing them to evolving economic growth metrics. The proposal would also maintain safeguards against preferential treatment, while simplifying  Regulation O's overall application. Key revisions to Regulation O contained within the proposal include, but are not limited to: Updating thresholds considered outdated by the FRB. Addressing applications of the rule considered unnecessary by the FRB to passive interests in companies held by investment funds. Codifying statutory requirements and incorporating long-standing regulatory interpretations. Streamlining general compliance standards. Interested parties may submit comments on the proposal until September 29, 2026 at this link .
3365431 pc Jul 31, 2026 pdonofrio US Track 2 Press Releases - Federal Reserve financial services
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Federal Reserve Board Issues Enforcement Action with Iuka Bancshares and The Iuka State Bank

On July 30, 2026, the Federal Reserve Board announced an enforcement action against Iuka Bancshares, Inc. and The Iuka State Bank, both based in Salem, Illinois. The Board executed a Written Agreement dated July 15, 2026, with the two entities. The enforcement action represents regulatory intervention by the Federal Reserve Board in response to compliance or operational concerns at the institutions. Written Agreements are formal enforcement tools used by the Federal Reserve to address deficiencies and require corrective action from banking organisations. The specific details of the violations or concerns addressed in the agreement are contained in the attached enforcement document. The enforcement action is effective immediately. Banking institutions and industry participants should monitor the Federal Reserve Board's enforcement actions database for additional details regarding the agreement's requirements and any conditions imposed on Iuka Bancshares, Inc. and The Iuka State Bank. The Federal Reserve Board maintains a searchable repository of all enforcement actions, which provides transparency regarding regulatory oversight and compliance expectations across the banking sector. **Reference:** Federal Reserve Board Press Release, July 30, 2026: https://www.federalreserve.gov/newsevents/pressreleases/enforcement_20260730a.htm

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US Federal Reserve Board Issues Enforcement Order with Iuka Bancshares and Iuka State Bank for Operational and Compliance Deficiencies

On July 30, 2026, the US Federal Reserve Board (FRB), in tandem with the Illinois Department of Financial and Professional Regulation (DFPR), issued an enforcement order against Iuka Bancshares and Iuka State Bank to address a number of operational and compliance deficiencies. According to the order, a May 2026 examination of the bank identified deficiencies related to internal controls, credit risk management, lending and credit administration, capital and liquidity and funds management. The examination also identified deficiencies in the bank's risk management and compliance with the Bank Secrecy Act (BSA) and anti-money laundering (AML) requirements. The order requires the bank's board of directors to submit written plans and programs to FRB and DFPR within designated timeframes to correct the identified deficiencies. These measures include, but are not limited to: Strengthening board oversight of the bank's major operations and activities, including establishing appropriate risk tolerance guidelines and limits. Strengthening credit risk management practices to identify, limit and manage concentrations of credit. Improving lending and credit risk management policies and procedures, including underwriting standards and collateral administration. Establishing effective, ongoing programs for loan grading and independent loan review. Designing an asset improvement plan to improve the bank's position on problem loans, other real estate owned and other assets past due.
3365204 pc Jul 31, 2026 pdonofrio Nebraska NE DBF Money Transmitter horizon scanning
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Nebraska Department of Banking and Finance Adopts Certification Procedures for Money Transmitter Foreign Adversary Control

On July 30, 2026, the Nebraska Department of Banking and Finance (Department) issued an order adopting certification procedures for money transmitter licensees and applicants regarding foreign adversary control, pursuant to amendments to the Nebraska Money Transmitters Act (Neb. Rev. Stat. §§ 8-2701 to 8-2754). The order establishes requirements under Neb. Rev. Stat. § 8-2750 and § 8-2751, which require applicants, licensees, key individuals, and persons in control to demonstrate they are not foreign adversary persons as defined in the Act. The Department presumes that failure to establish non-foreign adversary status indicates character and fitness concerns that would not serve the public interest in permitting money transmission services in Nebraska. The Department has developed a Certification Form to request information sufficient to demonstrate compliance with these provisions. Existing money transmitter licensees must complete the Certification Form within 60 days of receipt from the Department and upload the completed form into their Nationwide Multistate Licensing System (NMLS) record. Applicants with pending money transmitter license applications must complete and upload the Certification Form into their NMLS record before the Department will conduct a full licensing review. Licensees failing to provide requested information within 60 days or those the Department reasonably suspects are foreign adversary persons may face license revocation proceedings. The order remains in effect until subsequently modified or vacated by the Director. Existing licensees should anticipate receiving the Certification Form from the Department and ensure timely completion and submission to maintain compliance with Nebraska money transmitter regulations.

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Nebraska Department of Banking and Finance Issues Order on Certification Procedures for Money Transmitter Foreign Adversary Control

On July 30, 2026, the Nebraska Department of Banking and Finance (DBF) issued an order adopting certification procedures for money transmitter licensees and applicants regarding foreign adversary control, pursuant to recent amendments to the Nebraska Money Transmitters Act . Specifically, the order establishes requirements under Nebraska Revised Statutes § 8-2750 and § 8-2751, which require applicants, licensees, key individuals and persons in control to demonstrate they are not foreign adversary persons as defined under the Nebraska Money Transmitters Act. Per the order, the DBF presumes that failure to establish non-foreign adversary status indicates character and fitness concerns that would not serve the public interest in permitting money transmission services in Nebraska. The DBF has developed a certification form to request information sufficient to demonstrate compliance with these provisions. Existing money transmitter licensees must complete the certification form within 60 days of receipt from the DBF and upload the completed form into their Nationwide Multistate Licensing System (NMLS) record. Applicants with pending money transmitter license applications must complete and upload the certification form into their NMLS record before the DBF conducts a full licensing review. Licensees failing to provide requested information within 60 days or those the DBF reasonably suspects are foreign adversary persons may face license revocation proceedings. The order takes effect immediately , and remains in effect until subsequently modified or vacated by the DBF.
3364938 pc Jul 31, 2026 kgurnani Australia AUSTRAC horizon scanning
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AUSTRAC Publishes Enhanced Due Diligence Quick Guide for Remittance Service Providers

On July 30, 2026, the Australian Transaction Reports and Analysis Centre (AUSTRAC) published a quick guide to assist remittance service providers in applying enhanced customer due diligence (EDD) while mitigating tipping-off risks. The guide provides practical scenarios and customer-facing talking points to help remittance service providers navigate their anti-money laundering and counter-terrorism financing (AML/CTF) obligations under Australian legislation. Tipping off—the act of alerting a customer that they are subject to AML/CTF scrutiny—is prohibited under Australian law and can undermine the effectiveness of financial intelligence reporting. The guidance interprets how AUSTRAC views certain provisions of Australian legislation and associated rules and regulations, though it acknowledges that Australian courts retain ultimate responsibility for interpreting these laws and determining whether provisions have been contravened. AUSTRAC emphasises that the examples and scenarios presented in the guide are illustrative and not exhaustive, meaning they do not cover every possible situation remittance service providers may encounter. The guidance is presented in accessible language to avoid legal jargon and provides general information only; it is not a substitute for legal advice. AUSTRAC notes that many provisions of the law contain exceptions and important qualifications, and remittance service providers must consider their particular circumstances when determining how the law applies to their operations. Remittance service providers should review the quick guide to understand how to conduct EDD effectively while complying with tipping-off prohibitions. Those with specific questions about their AML/CTF obligations are encouraged to contact AUSTRAC directly for tailored guidance.

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1367 chars · nid 94347

Australia Transaction Report and Analysis Centre Publishes Enhanced Due Diligence Quick Guide for Remittance Service Providers

On July 30, 2026, the Australian Transaction Reports and Analysis Centre (AUSTRAC) published a quick guide to assist remittance service providers in applying enhanced customer due diligence (EDD) while mitigating tipping-off risks. The guide provides practical scenarios and customer-facing talking points to help remittance service providers navigate their anti-money laundering and counter-terrorism financing (AML/CTF) obligations under Australian legislation. Enhanced CDD is required where both: the provider is required to submit a suspicious matter report concerning a customer; and the provider continues to provide designated services to that customer. ECDD may involve obtaining additional KYC information, understanding the customer’s financial circumstances, establishing the purpose of transactions, verifying source of funds or wealth, identifying transfer destinations, or declining services where the risk exceeds the provider’s risk appetite. AUSTRAC clarifies that asking reasonable questions about unusual customer activity is not automatically tipping off. Staff should give genuine, neutral and process-based explanations, such as saying that information is required: to comply with AML/CTF obligations; to ensure customer records are accurate and current; or under standard company policies for particular transactions or circumstances.
3364735 gc Jul 31, 2026 apintea Bulgaria Official Gazette gamblingcompliance
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Bulgaria's Supreme Administrative Court Issues Decision on Gambling Administrative Case

On March 26, 2026, Bulgaria's Supreme Administrative Court (Върховен административен съд) issued Decision No. 3480 in administrative case No. 1727 of 2025. The decision was published in the Official Gazette (Държавен вестник) on July 31, 2026, in Issue 69. The Supreme Administrative Court decision addresses a gambling-related administrative matter that was initiated in 2025. As Bulgaria's highest administrative judicial body, the court's determination in this case establishes binding precedent for administrative proceedings within the gambling sector. The publication in the Official Gazette represents the formal notification of the court's ruling to all relevant parties, including regulatory authorities, operators, and other stakeholders within Bulgaria's gambling industry. Administrative decisions from the Supreme Administrative Court carry significant weight in Bulgaria's regulatory framework, particularly for matters concerning licensing, compliance, and enforcement actions against gambling operators. Such decisions often clarify the application of existing gambling regulations and establish procedural standards for future administrative proceedings. The specific details of the case, including the parties involved, the subject matter of the dispute, and the court's reasoning, are contained within the full decision published in the Official Gazette. Operators and regulatory bodies should review this decision to understand any implications for their operations or regulatory compliance obligations. REFERENCES: Държавен вестник (Official Gazette), Issue 69, July 31, 2026

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Law introducing affiliate licensing published in Bulgarian official gazette

On July 31, 2026, the law on the 2026 state budget was published in the Bulgarian official gazette. The law introduces a licensing regime for gambling affiliates and a two-part state levy on their commission fees: an annual fixed fee of €6,000 and a variable component of 10 percent on performance related commissions. The promotion of illegal gambling activity by licensed affiliates is prohibited, while licensed gambling operators can only use the services of a licensed affiliate. Affiliates who concluded agreements with licensed gambling operators as of August 1, 2026 are required to apply for a licence until August 15, 2026. Until the licence is issued, all the signed contracts remain valid. The law also expands the types of financial entities prohibited from processing payments to and from illegal gambling operators to include banks and electronic money institutions, alongside payment service providers and simplifies the procedure for website blocking. The gambling related provisions within the law enter into force on August 1, 2026, with the exception of Article 34(8) which becomes effective on January 1, 2027.
3366951 pc Jul 31, 2026 pthandapani South Korea Financial Services Commission horizon scanning
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South Korea's Financial Services Commission Imposes Business Suspension and Fine on Lotte Card for Data Breach

On July 31, 2026, the Financial Services Commission (FSC) resolved to impose a 1.5-month business suspension and a 5 billion won fine on Lotte Card following a data breach that exposed the credit information of approximately 2.97 million customers in August 2025. The FSC's action followed an investigation conducted by the Financial Supervisory Service (FSS) from September to October 2025, after Lotte Card reported the hacking incident on September 1, 2025. The FSS inspection identified multiple security violations under the Specialized Credit Finance Business Act and the Credit Information Use and Protection Act, including failure to implement system patches for the online payment system, non-encryption of resident registration numbers and passwords, and absence of antivirus software installation. The FSC determined this represented the first business suspension imposed for a hacking incident involving data breach. The 1.5-month suspension period reflects consideration of fairness with previous enforcement actions, the company's remedial efforts, and impacts on financial markets and consumers. The business suspension takes effect August 1, 2026, and concludes September 15, 2026. To minimize customer inconvenience, the FSC differentiated restrictions between existing and new members. Existing members retain full card service access, including payment transactions, limit increases, card reissuance, and new applications for card loans, cash advances, and revolving credit. New member card issuance is prohibited, with limited exceptions for public-purpose cards including welfare cards and military-related cards. The FSC announced plans to strengthen financial company security management systems through amendments to the Electronic Financial Transactions Act, including introducing punitive fines up to three percent of total revenue for serious security incidents and enhancing the authority of Chief Information Security Officers (CISOs). The FSC will continuously monitor impacts on financial consumers to ensure service continuity.

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South Korea's Financial Services Commission Imposes a Fine of KRW5bn and Suspends Lotte Card for Data Breach

On July 31, 2026, the Financial Services Commission (FSC) has imposed a fine of KRW5bn (US$3.46m) and a 1.5-month business suspension on Lotte Card Co., Ltd. (Lotte Card) for the leak of customer information in breach of the Specialized Credit Finance Business Act and the Credit Information Use and Protection Act . The FSC found that in August 2025, Lotte Card had allowed a hacking incident to compromise its systems, leading to the leakage of credit information belonging to 2.97 million customers. The FSC further found that Lotte Card did not have in place any procedures for executing information processing system patches or any procedures to ensure that resident registration numbers and passwords were encrypted and antivirus software was installed. These failures, coupled with the FSC’s findings that Lotte Card failed to meet its security obligations during the operation of its online payment system amounted to a breach of its responsibilities under both acts.
3366040 pc Jul 31, 2026 arahman European Union Press Releases - European Parliament horizon scanning
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European Union Adopts Restrictive Measures Against Russian Military-Industrial Complex Actors

On July 30, 2026, the Council of the European Union issued a statement by the High Representative on behalf of the EU regarding the alignment of certain countries with restrictive measures targeting actions undermining or threatening Ukraine's territorial integrity, sovereignty, and independence. On July 17, 2026, the Council adopted Decision (CFSP) 2026/1780, which imposed restrictive measures against one person and five entities responsible for actions undermining Ukraine's sovereignty. The decision specifically targeted actors involved in Russia's military-industrial complex. The measure forms part of the EU's broader sanctions regime in response to Russia's military aggression against Ukraine. Nine countries aligned themselves with the Council Decision, committing to ensure their national policies conform to the restrictive measures. These countries include Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Moldova, Montenegro, North Macedonia, Norway, and Ukraine. The EU welcomed these countries' commitment to align with the decision, noting that their participation strengthens the unified international response to threats against Ukraine's territorial integrity. The restrictive measures represent a coordinated effort among EU member states and aligned third countries to target individuals and entities supporting Russia's military capabilities and operations. The decision is published in the Official Journal of the European Union under reference OJ L 2026/1780 (July 17, 2026). REFERENCES: Council of the European Union. "Statement by the High Representative on behalf of the EU on the alignment of certain countries concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine." July 30, 2026. https://www.consilium.europa.eu/en/press/press-releases/2026/07/30/statement-by-the-high-representative-on-behalf-of-the-eu-on-the-alignment-of-certain-countries-concerning-restrictive-measures-in-respect-of-actions-undermining-or-threatening-the-territorial-integrity-sovereignty-and-independence-of-ukraine/

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Decision (CFSP) 2026/1780 Published in the Official Gazette

On July 17, 2026, Council Decision (CFSP) 2026/1780 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, was published in the Official Journal of the European Union. The decision imposed restrictive measures against five entities responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, in particular due to their involvement in Russia's military-industrial complex. The following entities have been added to the list: ABS ZEIM Automation: Joint Stock Company ABS ZEIM Automation has been sanctioned because it supplies automated control systems and equipment to Russia's oil and gas sector, including major refining, storage and transport facilities. As the energy sector is a significant source of revenue for the Russian government, the company is considered to support an industry that contributes to the Government of the Russian Federation. Asset Automation: This is a Russian company which is part of the ABS Electro group of companies and which is involved in developing and manufacturing electronic and radio-electronic components. All-Russian Scientific Research. Design and Technological Institute of Relay Construction with Pilot Production: This is a Russian company which is part of the ABS Electro group of companies and which is involved in developing and manufacturing electronic and radio-electronic components. Asset Electro: This is a Russian company which is part of the ABS Electro Group of companies and is involved in developing and manufacturing electronic and radio-electronic components. Sokol Asset: This is a Russian company which owns JSC VNIIR-Progress. JSC VNIIR-Progress is a Russian research and development institute that specialises in the production of advanced electronic warfare systems, in particular technologies for signal-jamming and intelligence-gathering. This decision comes into effect on July 17, 2026.
3364761 pc Jul 31, 2026 arahman European Union European Union Agency for Cybersecurity horizon scanning
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European Union Agency for Cybersecurity Publishes Secure by Design and Default Playbook

On July 30, 2026, the European Union Agency for Cybersecurity (ENISA) published the Secure by Design and Default Playbook, a practical guide addressing the challenges small and medium-sized enterprises (SMEs) face when implementing secure by design and secure by default principles. The playbook provides tangible guidance on applying secure by design and default requirements throughout a product's lifecycle. It translates these principles into clear, repeatable actions that organisations can integrate into existing engineering, product, and release processes. The publication recognises that while modern digital products are increasingly expected to be secure by design and secure by default, many SMEs lack targeted solutions to implement these concepts consistently across their operations. The playbook comprises 22 individual Secure by Design and Secure by Default playbooks, all available in an easy-to-navigate format on a dedicated GitHub repository at https://github.com/enisaeu/enisa-sbd-playbook/. The guidance is designed for national and EU authorities as well as the private sector, with particular emphasis on supporting smaller organisations in strengthening their cybersecurity posture. This publication aligns with ENISA's broader support activities for SMEs preparing for the Cyber Resilience Act (CRA). The agency has simultaneously released complementary resources, including the SME Cyber Resilience Maturity Assessment Model, to help micro, small, and medium-sized enterprises evaluate and strengthen their overall cyber resilience while meeting CRA requirements. Together, these resources provide SMEs with structured, practical approaches to understanding and implementing modern cybersecurity standards and regulatory obligations.

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European Union Agency for Cybersecurity Publishes Secure by Design and Default Playbook

On July 30, 2026, the European Union Agency for Cybersecurity (ENISA) published the Secure by Design and Default Playbook, a practical guide addressing the challenges small and medium-sized enterprises (SMEs) face when implementing secure by design and secure by default principles. The playbook provides tangible guidance on applying secure by design and default requirements throughout a product's lifecycle. It translates these principles into clear, repeatable actions that organisations can integrate into existing engineering, product, and release processes. The guidance groups secure by design principles into architectural foundations (covering secure system design, implementation and development) and operational integrity (covering secure distribution, installation, management and maintenance). Secure by default principles are divided into default hardening, which ensures products are secure from initial deployment, and guided protection, which helps users maintain secure configurations through clear defaults, warnings and recovery mechanisms. The report also includes practical playbooks for each principle, outlining implementation objectives, recommended actions and evidence organisations can use to demonstrate compliance. In addition, it maps these principles to the essential cybersecurity requirements set out in the Cyber Resilience Act.
3364887 pc Jul 31, 2026 arahman Montenegro Payment Operations and Payment Systems - CBCG horizon scanning
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Montenegro's Central Bank Amends Minimum Payment Transaction Threshold for RTGS System

On July 17, 2026, the Council of the Central Bank of Montenegro (CBCG) passed a decision amending the minimum value of payment transactions processed through the Real-Time Gross Settlement (RTGS) system. The amendment, issued pursuant to Article 44 paragraph (2) item 3 of the Central Bank of Montenegro Law and Article 159 paragraph (2) of the Payment System Law, modifies the Decision on Minimum Value of Payment Transactions to be Processed in RTGS System. The key change concerns the threshold for payment transactions initiated by payees. Article 3 of the original decision has been amended to permit payment transactions below EUR 3,000.00 to be executed in the RTGS system upon the payee's request. Previously, the RTGS system had higher minimum transaction thresholds. This amendment lowers the barrier to entry for smaller transactions, allowing payees greater flexibility in routing payments through the real-time settlement infrastructure. The change applies to transactions initiated by payees specifically and represents a shift toward accommodating lower-value payments within Montenegro's high-value payment system. This adjustment may enhance efficiency for smaller market participants and improve access to RTGS infrastructure for transactions that previously fell below the minimum threshold. The decision entered into force on the date of its publication in the Official Gazette of Montenegro. The amendment was signed by Irena Radović, Governor of the Central Bank of Montenegro, on July 17, 2026. REFERENCES: Central Bank of Montenegro Council Decision 0101-5744-4/2026 (July 17, 2026): Amending the Decision on Minimum Value of Payment Transactions to be Processed in RTGS System

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Montenegro's Central Bank Amends Minimum Payment Transaction Threshold for RTGS System

On July 17, 2026, the Council of the Central Bank of Montenegro (CBCG) passed a decision amending the minimum value of payment transactions processed through the Real-Time Gross Settlement (RTGS) system . Article 3 shall be amended to read: Payment transactions in the amount lower than €3,000 initiated by the payee may be executed in the RTGS system, upon the payee's request. This decision shall enter into force on the day of its publication in the official gazette.
3365406 pc Jul 31, 2026 arahman Denmark Official Gazette horizon scanning
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Denmark's Financial Supervisory Authority Issues Third-Party Payment Regulations for Investment Service Providers

On July 24, 2026, Denmark's Official Gazette published a decree on third-party payments and related matters, establishing comprehensive rules governing how investment service providers handle fees, commissions, and benefits received from third parties. The decree applies to a broad range of financial institutions, including credit institutions, mortgage credit institutions, investment firms, investment management companies, alternative investment fund managers, and investment advisers. It implements provisions from the Markets in Financial Instruments Directive (MiFID II) and related European Union regulations, including amendments from Directive (EU) 2024/2811. The regulation establishes strict requirements for discretionary portfolio management and independent investment advice. Companies providing these services must pass through to customers any fees, commissions, or benefits received from third parties as quickly as possible after receipt. For non-independent investment advice and other investment services, firms may accept payments from third parties only if three conditions are met: the payment enhances service quality, it does not create conflicts of interest, and the customer has been informed in advance. The decree permits receipt of minor-value benefits from third parties—such as conference attendance, research materials, and modest hospitality—provided these do not compromise the firm's duty to act fairly and professionally in customers' best interests. Firms must maintain documentation demonstrating compliance, including internal lists of received payments and records showing how payments improve service quality. The regulation introduces detailed requirements for third-party research payments, including provisions for separate research payment accounts, research budgets, and quality assessment criteria. Companies must disclose research costs to customers and manage research budgets based on reasonable assessments of client needs. The decree enters into force on August 4, 2026, repealing the previous regulation from November 26, 2021.

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Denmark Publishes Executive Order on Third-Party Payments in Official Gazette

On July 24, 2026, the Executive Order on Third-Party Payments was published in the official gazette, applicable to investment firms and banks authorised to provide investment services. Key points include: A firm that provides discretionary portfolio management or investment advice on an independent basis, that receives fees, commissions, or other payments in cash, must disclose these fees, commissions or other payments to the client as soon as possible after receipt. Benefits in kind of minor value must be reasonable and proportionate and of such a magnitude that they do not give rise to conflicts of interest in relation to the firm's duty to act honestly and professionally with the client's best interests. A research report prepared by an entity or by a third party and used by or distributed to entities, their clients or potential clients, must be fair, clear and not misleading. A firm must establish criteria for assessing the quality of purchased analyses. Non-compliance with the order is punishable by a fine, and companies may be held criminally liable. This order comes into effect on August 4, 2026.
3366479 pc Jul 31, 2026 arahman Albania News - Ministry of Finance financial services
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Albania's Ministry of Finance Adopts Legal Changes Strengthening Anti-Money Laundering Framework

On July 30, 2026, Albania's Council of Ministers approved a draft law on the prevention of money laundering and terrorism financing, proposed by the Ministry of Finance. The legal amendments align Albania's framework with recommendations from the Financial Action Task Force (FATF) and MONEYVAL, while implementing requirements from the European Union's sixth package and the EU Directive 2024/1640. The amendments aim to enhance beneficial ownership transparency and improve the quality of information reporting for financial and criminal investigations. The changes also strengthen mechanisms for implementing restrictive measures, including freezing and blocking of funds in accordance with international standards. Additionally, the reforms increase the effectiveness of inter-institutional and international cooperation through standardised reporting mechanisms, information exchange, and risk management procedures. Albania becomes the first Western Balkan country to undertake such a comprehensive alignment process with the new European framework in this area. The amendments strengthen the country's financial system, increase transparency, and protect Albania's economy from money laundering and terrorism financing risks. For EU member states, the legislative package enters into force in July 2027. Albania will implement the changes on January 1, 2028, providing time for domestic institutions to prepare for compliance with the new requirements. **Reference:** Ministry of Finance Albania Newsroom: https://financa.gov.al/en/newsroom/miratohen-ndryshimet-ligjore-per-forcimin-e-sistemit-te-parandalimit-te-pastrimit-te-parave-perafrim-i-kuadrit-ligjor-me-be/

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Albania's Council of Ministers Adopts Draft Law on Anti-Money Laundering

On July 30, 2026, Albania's Council of Ministers adopted a draft law on the prevention of money laundering and terrorism financing, proposed by the Ministry of Finance. The legal amendments align Albania's framework with recommendations from the Financial Action Task Force (FATF) and MONEYVAL, while implementing requirements from the European Union's sixth package and the EU Directive 2024/1640. The amendments aim to enhance beneficial ownership transparency and improve the quality of information reporting for financial and criminal investigations. The changes also strengthen mechanisms for implementing restrictive measures, including freezing and blocking of funds in accordance with international standards. Additionally, the reforms increase the effectiveness of inter-institutional and international cooperation through standardised reporting mechanisms, information exchange, and risk management procedures. The amendments strengthen the country's financial system, increase transparency, and protect Albania's economy from money laundering and terrorism financing risks. Albania will implement the changes on January 1, 2028, providing time for domestic institutions to prepare for compliance with the new requirements.
3365351 pc Jul 31, 2026 msolomon Croatia News financial services
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Croatia's Financial Services Regulator Orders Fima Plus d.o.o. to Cease Unauthorised Crypto-Asset Services

On July 29, 2026, the Croatian Financial Services Supervisory Agency (Hanfa) adopted a decision ordering Fima Plus d.o.o., a Varaždin-based company, to immediately cease the unauthorised provision of crypto-asset services. Hanfa established that between July 1, 2025 and January 23, 2026, Fima Plus d.o.o. provided crypto-asset services through the website https://fimacrypto.com without authorisation required under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). The company executed orders for crypto-assets on behalf of clients and provided crypto-asset custody services. Specifically, Fima Plus d.o.o. received client funds into its own bank account, transferred these funds to foreign crypto-asset trading platforms, and purchased crypto-assets on behalf of clients. The company also sold clients' crypto-assets on foreign platforms and paid proceeds directly to clients. Additionally, it held clients' crypto-assets and funds in accounts opened in its own name with foreign trading platforms, thereby providing unauthorised custody services. Hanfa's decision requires Fima Plus d.o.o. to immediately cease all such activities and return clients' assets. The company must inform its clients of the measures imposed and provide arrangements for asset return. This enforcement action reflects Hanfa's commitment to protecting consumers and ensuring compliance with MiCA requirements. The decision underscores the importance of regulatory authorisation for entities providing crypto-asset services in Croatia, particularly as mandatory licensing requirements for crypto-asset service providers came into effect on July 1, 2026.

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Croatian Financial Services Supervisory Agency Orders Fima Plus d.o.o. to Cease Provision of Crypto-Asset Services

On July 29, 2026, the Croatian Financial Services Supervisory Agency (Hanfa) announced it had ordered Fima Plus d.o.o. to cease their unauthorised provision of crypto-asset services. Hanfa found that, between July 1, 2025 and January 23, 2026, Fima Plus were providing crypto-asset services through their website without the required authorisation under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). The following breaches were found: Fima Plus were receiving funds from their clients into their own bank account, then transferring these funds to a foreign crypto-asset trading platform and using them to purchase crypto-assets on behalf of clients. Fima Plus sold clients’ crypto-assets on a foreign crypto-asset trading platform and subsequently paid the proceeds directly to those clients. Fima Plus held clients’ crypto-assets and funds in accounts opened in its own name with foreign trading platforms, thereby providing crypto-asset custody services. As a result of these breaches, Hanfa adopted a decision ordering Fima Plus to immediately cease the unauthorised provision of crypto-asset services and to return clients’ assets.
3366831 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Second Amendment Directions on Commercial Bank Deposit Interest Rates

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Second Amendment Directions, 2026, amending the original Directions dated November 28, 2025. The amendment revises instructions pertaining to interest rates on Rupee bulk deposits and the disclosure requirements for deposit interest rates offered by commercial banks. The RBI amended several key provisions under the Banking Regulation Act, 1949. First, banks must disclose interest rates on bulk deposits on their websites at 10:00 am, with a grace period of ten minutes (by 10:10 am) on each business day. Second, the amendment reinforces that interest rates on all deposits, including bulk deposits, must be uniform across all branches and for all customers, with no discrimination between deposits of similar amounts accepted on the same date. Third, the amendment introduces provisions allowing banks to offer differential interest rates on bulk deposits by considering differential run-off rates applicable under the Liquidity Coverage Ratio (LCR) framework, as specified in the Reserve Bank of India (Commercial Banks – Asset Liability Management) Directions, 2025. This applies to both domestic Rupee deposits and Rupee deposits of non-residents. The amendments aim to enhance transparency in deposit pricing while providing banks with flexibility to manage liquidity risk through differential pricing aligned with regulatory liquidity requirements. The Amendment Directions come into effect on October 1, 2026. Commercial banks must ensure compliance with the revised disclosure timelines and interest rate uniformity requirements by this date.

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Reserve Bank of India Issues Second Amendment Directions on Commercial Bank Deposit Interest Rates

On July 30, 2026, the Reserve Bank of India (RBI) issuedissued the Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) second amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing revised instructions pertaining to the interest rates on Rupee bulk deposits and the public disclosure of interest rates on deposits. Specific rules mandating that interest rates payable on deposits must be strictly as per the schedule disclosed in advance on the bank's website, with bulk deposit rates specifically required to be published between 10:00 am and 10:10 am on each business day. Regulations prescribing that interest rates offered on deposits must be uniform across all branches and for all customers, explicitly prohibiting any discrimination between deposits of similar amounts accepted on the same date. Provisions outlining that banks have the freedom to offer differential interest rates on both domestic and non-resident Rupee bulk deposits by considering the differential run-off rates applicable under the Liquidity Coverage Ratio (LCR) framework. The amendments take effect on October 1, 2026.
3366825 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Amendment Directions on Payments Banks Deposit Interest Rate Disclosure

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026. The amendment modifies the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Directions, 2025, which came into effect on November 28, 2025. The RBI reviewed its existing instructions and determined that revised guidance on the disclosure of interest rates on deposits was necessary and expedient in the public interest. The amendment introduces a revised requirement for payments banks regarding how they communicate deposit interest rates to customers. Under the amended Chapter II on General Guidelines (Interest Rate Framework), paragraph 6.3 now specifies that interest rates payable on deposits must be strictly in accordance with the schedule of interest rates disclosed in advance on the bank's website. This requirement ensures transparency and consistency between the rates advertised by payments banks and the rates actually offered to depositors. The amendment applies to all payments banks operating in India and affects how these institutions manage and communicate their deposit interest rate offerings. The RBI issued the amendment under the powers conferred by Section 35A of the Banking Regulation Act, 1949, and other enabling legislation. The Amendment Directions come into effect on October 1, 2026. Payments banks must ensure compliance with the revised disclosure requirements from this date onwards, aligning their interest rate schedules and website disclosures accordingly.

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Reserve Bank of India Issues Amendment Directions on Payments Banks Deposit Interest Rate Disclosure

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing the issuance of revised instructions pertaining to the disclosure of interest rates on deposits for payments banks. Specific rules mandating the substitution of paragraph 6.3 in Chapter II, which now strictly requires that the interest rates payable on deposits must be exactly as per the schedule of interest rates disclosed in advance on the bank's website. The amendments take effect on October 1, 2026.
3364878 pc Jul 31, 2026 csoo United Kingdom Payment Systems Regulator horizon scanning
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United Kingdom Payment Systems Regulator Strengthens Oversight of Mastercard and Visa

On July 30, 2026, the Payment Systems Regulator (PSR) issued two directions to Mastercard and Visa following its market review of card scheme and processing fees in the United Kingdom. The PSR confirmed new requirements to enhance transparency and accountability in how the card schemes operate. Card scheme and processing fees are charged by Mastercard and Visa to acquirers—the businesses that process card payments—and these costs are ultimately passed to consumers through prices for goods and services. The PSR's market review found that acquirers have struggled to understand these fees and reconcile them with billing statements, particularly as fees have risen significantly ahead of inflation in recent years. The PSR also identified a lack of transparency in Mastercard and Visa's internal pricing decision-making processes. The first direction requires Mastercard and Visa to provide acquirers with substantially clearer information about every fee charged, including what the fee is, how it is triggered, and how it is calculated. This will enable businesses to verify their bills more easily, avoid unnecessary charges, and compare optional services across providers. The second direction, termed the Pricing Governance remedy, requires Mastercard and Visa to consider the interests of businesses relying on their services when making pricing decisions and maintain clear records of their reasoning. David Geale, managing director of the PSR, said the measures "will improve transparency around card scheme and processing fees, make it easier for acquirers to reconcile charges, and strengthen accountability for Mastercard and Visa's pricing decisions." The Pricing Governance remedy will take effect within four months. The requirements for clearer information will be implemented over 12 months to accommodate necessary system changes. The PSR is also progressing work on Regulatory Financial Reporting, which will require Mastercard and Visa to report on their UK card business financial performance, enabling the regulator to monitor fee trends and profitability more closely.

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UK's Payment Systems Regulator Publishes Policy Statement Strengthening Oversight of Mastercard and Visa

On July 30, 2026, the Payment Systems Regulator (PSR) issued two directions to Mastercard and Visa following its market review of card scheme and processing fees in the United Kingdom. The PSR confirmed new requirements on information, transparency and complexity (ITC) and pricing governance. PS26/1 introduces the following changes: The ITC remedy requires clearer information on existing fees (ITC1) and on new or modified fees six months before implementation (ITC2), with behavioural fee impact information available on request three months ahead. Transaction-level identifiers have been dropped in favour of "fee logic" sufficient to reconcile billed fees to originating transactions. The schemes must comply with the substantive requirements of the ITC Direction from July 2027. The Pricing Governance remedy places three obligations on the schemes: they must pay due regard to a Pricing Decision Principle based on service users' interests, compile an Acquirer Fee Decision Record (AFDR) for each in-scope decision, and submit an annual overview and compliance report signed by a senior manager. Two timing points changed following consultation, in that the PSR will not request an AFDR until at least 30 days after the relevant decision, and schemes then have ten working days to produce it rather than five. Implementation runs to four months from publication, so fee decisions must be compliant from November 2026. The materiality threshold rises from £100,000 of net revenue to £250,000 of gross annual revenue. The same figure now applies to both remedies. Relevant fee decisions must comply with the Pricing Governance Direction from end of November 2026, and the substantive requirements of the ITC Direction apply from end of July 2027.
3366841 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Payments Banks Financial Statement Disclosure Requirements

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Payments Banks – Financial Statements: Presentation and Disclosures) Second Amendment Directions, 2026, modifying existing disclosure requirements for payments banks operating in India. The amendment follows the RBI's issuance of the Reserve Bank of India (Small Finance Banks - Prudential Norms on Capital Adequacy) Fifth Amendment Directions, 2026, which introduced changes to Basel Pillar 3 disclosure requirements. In response to these broader prudential norm updates, the RBI reviewed and amended the payments banks financial statement directions to maintain consistency across regulatory frameworks. The key modification deletes Paragraph 10(11) of the original Directions, which previously required payments banks to disclose information on remuneration. This deletion streamlines disclosure obligations for payments banks by removing the specific remuneration disclosure requirement that was previously mandated under the financial statements presentation and disclosure framework. The amendment applies to all payments banks licensed and operating under RBI supervision. Payments banks, which are a category of bank focused on payments and remittances services with restrictions on lending and deposit-taking activities, will need to adjust their financial reporting processes accordingly. The amendment comes into force on April 1, 2027, providing payments banks with a transition period to align their financial statement preparation and disclosure practices with the revised requirements. **Reference:** Reserve Bank of India. (2026). Reserve Bank of India (Payments Banks – Financial Statements: Presentation and Disclosures) Second Amendment Directions, 2026. RBI/DOR/2026-27/209.

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Reserve Bank of India Amends Payments Banks Financial Statement Disclosure Requirements

On July 30, 2026, the Reserve Bank of India (RBI) issued issued the Reserve Bank of India (Payments Banks – Financial Statements: Presentation and Disclosures) second amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing that the modifications are a consequence of the updated Basel Pillar 3 disclosure requirements under the fifth amendment directions for prudential norms on capital adequacy for small finance banks. Regulations prescribing the deletion of paragraph 10(11), which previously governed disclosures on remuneration within financial statements. The amendments take effect on April 1, 2027.
3366845 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Eighth Amendment Directions on Commercial Bank Financial Statement Disclosures

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Financial Statements: Presentation and Disclosures) Eighth Amendment Directions, 2026. The amendment modifies the Reserve Bank of India (Commercial Banks – Financial Statements: Presentation and Disclosures) Directions, 2025, following a review consequent to the issuance of the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Seventh Amendment Directions, 2026, which pertained to Basel Pillar 3 disclosures. The RBI exercised its powers under Section 35A of the Banking Regulation Act, 1949, to issue these amendments in the public interest. The amendment directions make two key modifications to the existing directions. First, Paragraph 10(2)(ii) and 10(2)(iii), which contained disclosures on Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) respectively, stand deleted. Second, Paragraph 10(13), which contained disclosures on remuneration, stands deleted. These deletions streamline the disclosure requirements for commercial banks operating in India. The amendments apply to all commercial banks regulated by the RBI and will come into force on April 1, 2027. This effective date provides banks with sufficient time to adjust their financial reporting processes and systems to comply with the revised disclosure framework. The changes align India's regulatory approach with evolving prudential standards and reduce redundant disclosure obligations for commercial banks.

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Reserve Bank of India Issues Eighth Amendment Directions on Commercial Bank Financial Statement Disclosures

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Financial Statements: Presentation and Disclosures) eighth amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing that the modifications are a consequence of the updated Basel Pillar 3 disclosure requirements under the seventh amendment directions for prudential norms on capital adequacy. Provisions outlining the deletion of paragraph 10(2)(ii) regarding disclosures on the Liquidity Coverage Ratio (LCR). Specific rules mandating the deletion of paragraph 10(2)(iii) concerning disclosures on the Net Stable Funding Ratio (NSFR). Regulations prescribing the deletion of paragraph 10(13), which previously governed disclosures on remuneration within financial statements. The amendments take effect on April 1, 2027.
3366843 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Payments Banks Governance Directions on Remuneration Disclosures

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Payments Banks – Governance) Third Amendment Directions, 2026, modifying governance requirements for payments banks operating in India. The amendment addresses two key areas of remuneration governance. First, it revises requirements for share-linked instruments as variable pay components. Under the updated framework, payments banks must fair value share-linked instruments on the grant date using the Black-Scholes model, with the resulting fair value recognised as an expense beginning with the accounting period for which approval has been granted. Banks must frame norms for granting share-linked instruments in conformity with relevant statutory provisions, incorporating these norms into their compensation policies. Details of share-linked instruments granted must be disclosed in accordance with the Reserve Bank of India (Payments Banks: Financial Statements – Presentation and Disclosures) Directions, 2025 and the Reserve Bank of India (Payments Banks – Prudential Norms on Capital Adequacy) Directions, 2025. Second, the amendment modifies disclosure requirements for remuneration of Whole-Time Directors (WTDs), Managing Directors and Chief Executives (MD&CEOs), and Material Risk Takers (MRTs). Payments banks must now disclose remuneration information for these roles on an annual basis at minimum in their Annual Financial Statements, as prescribed in the applicable RBI directions. The amendment was issued under Section 35A of the Banking Regulation Act, 1949, following a review consequent to the issuance of the Reserve Bank of India (Small Finance Banks – Prudential Norms on Capital Adequacy) Fifth Amendment Directions, 2026 pertaining to Basel Pillar 3 disclosures. The amendments come into force on April 1, 2027, providing payments banks with nine months to align their governance and disclosure practices accordingly.

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Reserve Bank of India Amends Payments Banks Governance Directions on Remuneration Disclosures

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (payments banks – governance) third amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Regulations prescribing that share-linked instruments must be included as a component of variable pay, and the norms for their grant must conform to statutory provisions and form part of a bank's compensation policy. Specific rules mandating that share-linked instruments must be fair valued on the date of grant using the Black-Scholes model, with the fair value recognised as an expense beginning with the accounting period for which approval was granted. Provisions outlining updated disclosure requirements, stipulating that the details of share-linked instruments must now be disclosed in accordance with the Reserve Bank of India (payments banks - prudential norms on capital adequacy) directions, 2025. Administrative measures detailing that a bank must disclose the remuneration of whole-time directors (WTDs), managing directors and chief executive officers (MD&CEOs), and material risk takers (MRTs) on at least an annual basis under the updated capital adequacy directions. The amendments take effect on April 1, 2027.
3367063 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Seventh Amendment to Commercial Bank Capital Adequacy Prudential Norms

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Seventh Amendment Directions, 2026. The amendment modifies the Pillar 3 disclosure requirements under the Basel Framework to ensure greater consistency with international standards and enhance market discipline through improved regulatory transparency. The amendment introduces significant changes to how commercial banks disclose prudential information to market participants. Key modifications include revised disclosure templates and tables that replace previous references to Table DF 4, Table DF 5, and Table DF 11 with updated templates (CR4, CR5, CR3, and CC1). The RBI has established five guiding principles for Pillar 3 disclosures: clarity, comprehensiveness, meaningfulness to users, consistency over time, and comparability across banks. These principles aim to reduce information asymmetry and promote transparency about banks' risk profiles and capital adequacy. The amendment strengthens internal control requirements by mandating that banks establish formal disclosure policies approved by their boards of directors. Senior officers at board level must attest in writing that Pillar 3 disclosures comply with approved internal control processes. Banks must maintain a dedicated Regulatory Disclosure Section on their websites with prominent links on homepages and archive Pillar 3 reports for at least five years. The amendment applies to all commercial banks, including those not listed on stock exchanges or required to publish financial results. The amendment takes effect April 1, 2027. Banks must publish quarterly disclosures beginning June 30, 2027, semi-annual disclosures beginning September 30, 2027, and annual disclosures beginning March 31, 2028. Until March 31, 2029, banks may publish disclosures within seven working days of financial report publication; from April 1, 2029, concurrent publication is required.

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Reserve Bank of India Issues Seventh Amendment to Commercial Bank Capital Adequacy Prudential Norms

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) seventh amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing that Pillar 3 disclosures shall apply at the top consolidated level of the banking group and must be made by all banks, including unlisted entities, to promote market discipline and reduce information asymmetry. Specific rules mandating the assurance of Pillar 3 data, requiring banks to implement a formal, board-approved disclosure policy, maintain strict internal controls, and ensure written attestation by at least one board-level senior officer. Regulations prescribing five guiding principles for Pillar 3 disclosures, establishing that the information provided to market participants must be clear, comprehensive, meaningful, consistent over time, and comparable across banks. Provisions outlining the frequency and timing of disclosures, stipulating publication within a maximum of seven working days from the release of financial reports until March 31, 2029, and concurrently with financial reports starting April 1, 2029. Directives establishing presentation formats, requiring banks to publish a standalone Pillar 3 report, supplement quantitative data with qualitative narratives, and maintain a prominently linked "Regulatory Disclosure Section" on their website with at least a five-year archive. The amendments take effect on April 1, 2027.
3367061 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Issues Second Amendment Directions on Commercial Banks Asset Liability Management

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Asset Liability Management) Second Amendment Directions, 2026, amending the Commercial Banks – Asset Liability Management Directions, 2025. The amendment follows the RBI's issuance of the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Seventh Amendment Directions, 2026, which introduced changes to Basel Pillar 3 disclosures. The RBI exercised powers conferred by Section 35A of the Banking Regulation Act, 1949, to issue the amendment in the public interest. The amendment modifies two key paragraphs of the existing Directions. Paragraph 204 is amended to clarify that for Liquidity Coverage Ratio (LCR) disclosure template and related instructions, commercial banks shall refer to relevant instructions in the Reserve Bank of India (Commercial Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 and the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Directions, 2025. Similarly, Paragraph 250 is amended to specify that for Net Stable Funding Ratio (NSFR) disclosure template and related instructions, banks shall refer to the same two sets of directions. These amendments align the asset liability management framework with updated prudential norms and disclosure requirements, ensuring consistency across the RBI's regulatory framework for commercial banks. The amendments become effective on April 1, 2027, providing commercial banks with sufficient time to implement the changes to their disclosure procedures and systems. **Reference:** Reserve Bank of India. (2026). Reserve Bank of India (Commercial Banks – Asset Liability Management) Second Amendment Directions, 2026. RBI/DOR/2026-27/205. https://www.rbi.org.in/

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Reserve Bank of India Issues Second Amendment Directions on Commercial Banks Asset Liability Management

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Asset Liability Management) second amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Administrative measures detailing that the modifications are a consequence of the updated Basel Pillar 3 disclosure requirements under the seventh amendment directions for prudential norms on capital adequacy. Provisions outlining updated references for the liquidity coverage ratio (LCR), stipulating that the LCR disclosure template and related instructions must now follow the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) directions, 2025. Specific rules mandating a similar regulatory shift for the net stable funding ratio (NSFR), requiring banks to refer to the updated capital adequacy directions for the NSFR disclosure template and related instructions, rather than the previous financial statements directions. The amendments come into force on April 1, 2027.
3367059 pc Jul 31, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Commercial Banks Governance Directions on Share-Linked Instruments

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Governance) Third Amendment Directions, 2026, modifying governance requirements for commercial banks operating in India. The amendment follows the RBI's issuance of the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) Seventh Amendment Directions, 2026, which introduced changes to Basel Pillar 3 disclosure requirements. The RBI exercised powers conferred under Section 35A of the Banking Regulation Act, 1949, to issue the amendment directions. The key modifications address share-linked instruments and remuneration disclosures. First, the amendment revises requirements for share-linked instruments as a component of variable pay. Banks must frame norms for granting share-linked instruments through their Promoter Verification Body (PVB) in conformity with relevant statutory provisions, with these norms forming part of the PVB's compensation policy. Share-linked instruments must be fair valued on the grant date using the Black-Scholes model, with the fair value recognised as an expense from the accounting period for which approval was granted. Details of share-linked instruments granted must be disclosed in accordance with the Reserve Bank of India (Commercial Banks: Financial Statements – Presentation and Disclosures) Directions, 2025. Second, the amendment modifies remuneration disclosure requirements. Banks must now disclose remuneration information for Whole-Time Directors (WTDs), Managing Directors and Chief Executives (MD&CEO), Chief Executives (CEO), and Material Risk Takers (MRTs) on an annual basis minimum, as part of their Annual Financial Statements as prescribed in the relevant RBI directions. The amendments come into force on April 1, 2027, providing banks with a transition period to implement the revised governance requirements.

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Reserve Bank of India Amends Commercial Banks Governance Directions on Share-Linked Instruments

On July 30, 2026, the Reserve Bank of India (RBI) issued the Reserve Bank of India (Commercial Banks – Governance) third amendment directions, 2026, which modify the principal directions from 2025. The amended directions contain: Regulations prescribing that share-linked instruments must be included as a component of variable pay, and the norms for their grant must conform to statutory provisions and form part of a private sector bank's (PVB) compensation policy. Specific rules mandating that share-linked instruments must be fair valued on the date of grant using the Black-Scholes model, with the fair value recognised as an expense beginning with the accounting period for which approval was granted. Provisions outlining updated disclosure requirements, stipulating that the details of share-linked instruments must be disclosed in accordance with the Reserve Bank of India (Commercial Banks - Prudential Norms on Capital Adequacy) directions, 2025. Administrative measures detailing that a private sector bank (PVB) must disclose the remuneration of whole-time directors (WTDs), managing directors and chief executive officers (MD&CEOs), chief executive officers (CEOs), and material risk takers (MRTs) on at least an annual basis under the updated capital adequacy directions. The amendments take effect from April 1, 2027.
3364903 pc Jul 30, 2026 pdonofrio US Track 2 News Releases - Office of the Comptroller of the Currency (OCC) financial services
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Office of the Comptroller of the Currency Issues Revised Community Bank Leverage Ratio Framework

On July 30, 2026, the Office of the Comptroller of the Currency (OCC) issued a revised compliance guide for the community bank leverage ratio (CBLR) framework, which became effective on July 1, 2026. The updated guide helps community banking organizations understand revisions to the optional CBLR framework, which provides a simplified measure of capital adequacy for certain community banking organizations while reducing regulatory burden and promoting safety and soundness. The revised framework is designed to free up an estimated $64 billion to support additional lending to Main Street. Approximately 95 percent of community banks are eligible to benefit from the burden-reducing framework. The OCC said the revisions reflect its commitment to addressing challenges facing community banks through a series of regulatory relief measures. These include creating a distinct supervisory line focused on community banks, removing previously required examination activities and tailoring examination scope and frequency based on risk, and increasing the upper asset range of the community bank supervision portfolio to allow organic growth or acquisitions without increased scrutiny. The OCC also updated model risk management guidance to clarify that requirements should be risk-based and tailored to a bank's size and complexity, excluding community banks from unnecessary requirements. Additional actions include simplifying licensing requirements, establishing tailored Bank Secrecy Act (BSA) and anti-money laundering examination procedures reflecting community banks' generally low money laundering and terrorist financing risk levels, and eliminating duplicative data collection requirements. The OCC proposed guidance for a simplified Community Reinvestment Act (CRA) strategic plan process to help community banks focus resources on local credit needs. The revised CBLR compliance guide is available on the OCC website.

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US Office of the Comptroller of the Currency Updates Guidance on Community Bank Leverage Ratio Framework

On July 30, 2026, the US Office of the Comptroller of the Currency (OCC) issued a revised compliance guide for the new community bank leverage ratio (CBLR) framework , which took effect on July 1, 2026. According to an OCC news release , the updated guidance is intended to help community banks understand the recent revisions to the optional CBLR framework, which provides a simplified measure of capital adequacy for certain community banks, while also reducing regulatory burden and promoting safety and soundness. The revised framework is designed to provide an estimated $64bn to support additional lending by community banks, with approximately 95 percent of community banks eligible to benefit from it. The guidance summarizes key revisions to the CBLR framework, including but not limited to: Lowering the minimum leverage ratio requirement from greater than 9 percent to greater than 8 percent. Revising the grace period for a community bank that elects to use the CBLR framework but temporarily fails to meet all of the qualifying criteria, including the leverage ratio requirement, to provide that: The community bank will have four quarters to return to compliance, provided the community bank maintains a leverage ratio greater than 7 percent and does not exceed a limit of eight quarters in the grace period over a five-year period. A community bank that has a leverage ratio equal to or less than the grace period minimum of 7 percent will be required to comply with the applicable risk-based capital standards. The community bank will have four quarters to return to compliance, provided the community bank maintains a leverage ratio greater than 7 percent and does not exceed a limit of eight quarters in the grace period over a five-year period. A community bank that has a leverage ratio equal to or less than the grace period minimum of 7 percent will be required to comply with the applicable risk-based capital standards. The OCC noted that the compliance guide does not carry the effect of law or regulation and that, in addition to referencing it, community banks should review the full text of the CBLR framework in the capital rule.
3364913 pc Jul 30, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Designates Six Entities Supporting Iran's Mahan Air and IRGC

On July 30, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated six entities and individuals located in China, India, Russia, and Iran for providing support to Mahan Air and Iran's Islamic Revolutionary Guard Corps (IRGC). The designations target general sales agents and front companies facilitating the airline's global operations. OFAC designated Shanghai Wings International Logistics Co, its managing director Tang Xin, Shanghai Elite International Travel Co, Skiez Travels and Logistics Private Limited, and Air Cargo Pro Limited pursuant to Executive Order 13224, as amended. These entities serve as general sales agents for Mahan Air, coordinating transport of electronics and facilitating travel for IRGC-Qods Force personnel. OFAC also designated DadeNegar Startup Studio, an IRGC-affiliated front company that solicited locations of American and Israeli equipment to support Iranian military targeting and received strike requests for U.S. targets in the Middle East. Although Mahan Air presents itself as a civilian carrier, it has long facilitated the IRGC's movement of weapons, operatives, and military equipment globally, including unmanned aerial vehicle systems. Treasury Secretary Scott Bessent said those providing financial services, logistics, or commercial support to the IRGC or Mahan Air are helping sustain a terrorist enterprise. This action advances Treasury's efforts to intensify economic pressure on the Iranian regime, particularly in response to its attacks against regional states and commercial vessels in the Strait of Hormuz. As a result of these designations, all property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked. U.S. persons are generally prohibited from engaging in transactions involving the designated entities. Violations may result in civil or criminal penalties. OFAC may also impose secondary sanctions on foreign financial institutions that knowingly conduct or facilitate significant transactions on behalf of designated persons.

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US Office of Foreign Assets Control Designates Networks Supporting Mahan Air and the Islamic Revolutionary Guard Corps

On July 30, 2026, the US Office of Foreign Assets Control (OFAC) designated six individuals and entities located in Iran, as well as in China, India and Russia, for providing support to Mahan Air and the Islamic Revolutionary Guard Corps (IRGC). The designations were made pursuant to the counter-terrorism provisions of Executive Order 13224 . Regarding Mahan Air, the designations target general sales agents and front companies facilitating the airline's global operations, including Shanghai Wings International Logistics Company and its managing director Tang Xin. DadeNegar Startup Studio, an IRGC-affiliated front company, was also designated. According to an OFAC news release , the company solicited the locations of American and Israeli equipment on the IRGC's behalf to support Iranian military targeting and received strike requests for US targets in the Middle East. As a result of the new sanctions designations, all US-based property and interests of these targets are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC.
3362118 pc Jul 30, 2026 rghosh Argentina Ministry of Justice and Human Rights financial services
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Argentina's National Securities Commission Implements Digital Platform for Anti-Money Laundering Compliance Management

Argentina's National Securities Commission (CNV) has implemented a digital platform called TAD (Trámites a Distancia) to manage anti-money laundering, counter-terrorism financing, and counter-proliferation financing (LA/FT/FP) requirements. Roberto E. Silva, CNV president, said the implementation represents a modernisation of internal processes that will streamline procedures, simplify interactions with regulated entities, and strengthen supervisory tasks. Under the new system, all obligated subjects registered with the CNV—including those operating in the capital markets and subject to the Financial Intelligence Unit (UIF)—must respond to LA/FT/FP prevention requirements exclusively through the TAD platform. Compliance officers at obligated entities may establish a special electronic address through TAD to receive valid communications and notifications from the CNV. This requirement applies to all regulated entities under CNV jurisdiction, ensuring uniform implementation across the financial services sector. The CNV introduced this measure as part of the broader modernisation initiative of Argentina's National Public Administration (APN). The initiative reflects the CNV's commitment to efficiency, transparency, and continuous improvement in managing administrative procedures. The platform consolidates multiple regulatory interactions into a single digital channel, reducing administrative burden on regulated entities while enhancing the CNV's supervisory capacity. Regulated entities should ensure their compliance teams are prepared to access and utilise the TAD platform for all future LA/FT/FP-related communications from the CNV. The implementation was formalised through CNV General Resolution N° 1158.

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Argentina's National Securities Commission Implements Digital Platform for Anti-Money Laundering Compliance Management

On July 29, 2026, the National Securities Commission (CNV) of Argentina announced General Resolution No. 1158 , implementing a streamlined digital framework for managing information requests related to the prevention of Money Laundering, Terrorist Financing, and Proliferation Financing (LA/FT/FP). Under previous procedures, the issuance and reception of information and documentation requests in the context of LA/FT/FP investigations or supervisions lacked a unified digital approach. The CNV considers that continuing to rely on older administrative methods can create inefficiencies and delays, and that modernizing internal processes is necessary to strengthen supervisory tasks. The CNV therefore mandates the implementation of the Remote Procedures System (Trámites a Distancia - TAD), under which all requests and submissions related to LA/FT/FP prevention must proceed exclusively through this centralized digital platform. To comply with the newly implemented digital process, regulated entities will be required to: Respond to all information and documentation requirements issued in the framework of LA/FT/FP prevention exclusively through the TAD platform Establish, if specifically requested by the regulator, a special electronic domicile for the Compliance Officers of Obligated Subjects Recognize communications and notifications issued through the TAD platform to this special electronic domicile as legally valid Ensure full transition to the TAD system for these specific regulatory interactions starting August 10, 2026 The mandate applies broadly across the market. Both obligated subjects reporting to the Financial Information Unit (UIF) that operate in the capital market, as well as all other subjects registered with the CNV, will be subject to this exclusive communication channel for LA/FT/FP supervision. This initiative serves as an additional modernization step for the National Public Administration (APN). In considering the adoption of the system, the CNV assessed matters including the regulator's commitment to efficiency, transparency, and continuous improvement in the management of its administrative procedures. The traditional non-digital methods for managing these specific LA/FT/FP requirements will no longer be available. These procedures will now remain governed exclusively by the TAD platform, pursuant to the provisions set out in General Resolution No. 1158. The resolution is relevant to Obligated Subjects before the UIF, their Compliance Officers, all other entities registered with the CNV, and their professional advisers. Affected parties must ensure readiness to utilize the TAD system for LA/FT/FP requirements by the implementation date of August 10, 2026.
3364682 pc Jul 30, 2026 csoo United Kingdom Payment Systems Regulator horizon scanning
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United Kingdom Payment Systems Regulator Consults on Removing Confirmation of Payee Expiry Date

On July 30, 2026, the Payment Systems Regulator (PSR) launched a consultation on proposed amendments to Specific Direction 17 (SD17), which underpins participation in the Confirmation of Payee (CoP) scheme. CoP is a system that helps reduce misdirected payments and certain types of authorised push payment (APP) fraud by verifying whether a payee's account details match those held by their payment service provider (PSP). More than 320 organisations currently offer CoP, with the scheme processing over 2 million checks daily. SD17 is scheduled to expire on November 1, 2026. The PSR's consultation proposes two key amendments to ensure CoP continues providing strong protections for payment system users as the payments market evolves. First, the PSR proposes removing SD17's expiry date so it remains in force beyond November 1, 2026. Second, the PSR is seeking views on whether to expand SD17's scope to place all PSPs currently offering CoP on equal regulatory footing, including those offering it on a voluntary basis. The PSR intends these proposals to maintain broad and consistent participation in CoP, helping sustain protections against misdirected payments and certain types of APP fraud. The consultation is open to anyone with an interest in UK payments, particularly PSPs, businesses, consumer groups, and organisations involved in fraud prevention. The comment period closes at 5pm on August 20, 2026, and responses should be submitted to the PSR. The PSR will use feedback from this consultation to inform its final decision on SD17's future framework.

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UK's Payment Systems Regulator Consults on Removing Confirmation of Payee Expiry Date

On July 30, 2026, the Payment Systems Regulator (PSR) launched a consultation (CP26/2) on proposed amendments to Specific Direction 17 (SD17), which underpins participation in the Confirmation of Payee (CoP) scheme. The PSR is consulting on two proposed changes to SD17: Removing the expiry date from SD17. SD17 is currently due to expire on November 1, 2026 . The PSR proposes making the Direction permanent so that firms remain under a continuing legal obligation to provide CoP, rather than allowing the legal obligation to lapse. SD17 is currently due to expire on November 1, 2026 . The PSR proposes making the Direction permanent so that firms remain under a continuing legal obligation to provide CoP, rather than allowing the legal obligation to lapse. Expanding the scope of firms subject to SD17. Amend the Direction so that new payment service providers (PSPs) that begin operating after the Direction came into force are automatically brought within its scope if they meet the relevant criteria. Amend the Direction so that new payment service providers (PSPs) that begin operating after the Direction came into force are automatically brought within its scope if they meet the relevant criteria. The consultation closes at 5pm on August 20, 2026, and responses should be submitted by email to APPscams@psr.org.uk .
3364215 gc Jul 30, 2026 gkaliraman Northern Territory Northern Territory Racing Commission gamblingcompliance
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Northern Territory Wagering Commission Fines Bet Nation for Responsible Gambling Breaches

On June 29, 2026, the Northern Territory Wagering Commission issued a decision notice finding that Amused Australia Pty Ltd, trading as Bet Nation, contravened its licence conditions by failing to comply with the Northern Territory Code of Practice for Responsible Service of Online Gambling 2019 (the Code). The Commission identified two breaches. First, Bet Nation failed to detect red flag behaviours displayed by a complainant between September 27 and October 6, 2022, and did not take appropriate customer interactions to assist or protect the customer. The complainant deposited $49,728 and placed numerous wagers over approximately two weeks, with significant increases in deposit frequency and amounts on September 27 and September 30, 2022. The Commission found that Bet Nation's responsible gambling call on October 6, 2022, lasting one minute and 28 seconds, was insufficient to discharge its obligations under clause 3.2 of the Code. Second, Bet Nation breached clause 8.9 of the Code by continuing to send marketing material to the complainant after he requested to be unsubscribed on January 6, 2023. The operator sent ten marketing text messages between January 6 and February 18, 2023. The Commission imposed disciplinary action totalling $38,556 in fines: $27,540 (170 penalty units at 100 percent of the maximum penalty) for the responsible gambling breach, and $11,016 (68 penalty units at 40 percent of the maximum penalty) for the marketing breach. The Commission also declared all bets placed by the complainant from September 28, 2022, onwards as not lawful and ordered Bet Nation to return $30,161 to the complainant, representing the value of all wagers adjusted for withdrawals. The Commission noted that Bet Nation has since enhanced its responsible gambling policies and procedures. REFERENCE: Northern Territory Wagering Commission Decision Notice and Reasons for Decision (June 29, 2026)

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Northern Territory Wagering Commission fines Bet Nation A$38,556 for responsible gambling breaches

On June 29, 2026, the Northern Territory Wagering Commission issued a decision notice finding that Amused Australia Pty Ltd, trading as Bet Nation, contravened its licence conditions by failing to comply with the Northern Territory Code of Practice for Responsible Service of Online Gambling 2019 (the Code). The Commission identified the following two breaches: Bet Nation failed to detect red flag behaviours displayed by a complainant between September 27 and October 6, 2022, and did not take appropriate customer interactions to assist or protect the customer. The complainant deposited A$49,728 (US$35,000) and placed numerous wagers over approximately two weeks, with significant increases in deposit frequency and amounts on September 27 and September 30, 2022. The Commission found that Bet Nation's responsible gambling call on October 6, 2022, lasting one minute and 28 seconds, was insufficient to discharge its obligations under clause 3.2 of the Code. Second, Bet Nation breached clause 8.9 of the Code by continuing to send marketing material to the complainant after he requested to be unsubscribed on January 6, 2023. The operator sent ten marketing text messages between January 6 and February 18, 2023. The Commission imposed disciplinary action totalling A$38,556 (US$27,000) in fines: A$27,540 (US$19,300) (170 penalty units at 100 percent of the maximum penalty) for the responsible gambling breach, and A$11,016 (US$7,700) (68 penalty units at 40 percent of the maximum penalty) for the marketing breach. The Commission also declared all bets placed by the complainant from September 28, 2022, onwards as not lawful and ordered Bet Nation to return $30,161 to the complainant, representing the value of all wagers adjusted for withdrawals. The Commission noted that Bet Nation has since enhanced its responsible gambling policies and procedures.
3361726 pc Jul 30, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Sanctions Iranian Regime's Strait of Hormuz Extortion Network

On July 29, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated two firms and eight vessels as part of coordinated sanctions targeting Iran's maritime extortion scheme and shadow fleet operations. OFAC designated the Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority for operating an Islamic Revolutionary Guard Corps (IRGC)-backed extortion network that forces commercial vessels to purchase mandatory maritime "insurance" to transit the Strait of Hormuz. The PGMIC, established by Iran's Central Insurance of the Islamic Republic of Iran and approved by the U.S.-designated Persian Gulf Strait Authority (PGSA), brokers policies ostensibly covering risks such as vessel seizures—risks predominantly created by Iran itself. HormuzSafe, developed by Iran's Ministry of Economy, accepts payment in Bitcoin and other digital assets to circumvent Western sanctions and generate revenue for IRGC operations. Treasury Secretary Scott Bessent said the regime is "desperate for cash" with triple-digit inflation and a collapsing economy, and that "the United States will not allow Iran to hold global commerce hostage." OFAC simultaneously designated eight shipping companies and identified eight vessels as blocked property for transporting Iranian crude oil and petrochemical products. The designated companies include Qi Hang Ship Management Limited, Marinova Freight Limited, Vast Mighty Limited, Ocean Tranquility Limited, Branch Saying International Trading Co Ltd, Confident Apex Limited, Billion Nexus Int'l Co. Limited, and Nevada Spirit Company Limited. The blocked vessels—WELL SAIL, NATSUMI, CRYSTAL, NIRETA, YEHOPE, LILY, AL SALMI, and BREEZE V—transported millions of barrels of Iranian oil to China and the United Arab Emirates since 2022. Since the beginning of 2026, OFAC has sanctioned over 100 vessels linked to Iran's shadow fleet. These actions advance Executive Order 13902 and the President's National Security Presidential Memorandum 2, imposing maximum economic pressure on Iran's petroleum and petrochemical sectors. All property and interests in property of designated persons within the United States or controlled by U.S. persons are blocked. U.S. persons are generally prohibited from conducting transactions involving blocked persons unless authorized by OFAC. Violations may result in civil or criminal penalties.

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US Office of Foreign Assets Control Sanctions Iranian Regime's Strait of Hormuz Extortion Network

On July 29, 2026, the US Office of Foreign Assets Control (OFAC) issued designations against ten entities, including eight shipping companies, as part of coordinated sanctions targeting Iran's maritime extortion scheme and shadow fleet operations. Specifically, according to an OFAC news release , it designated the Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority for operating an Islamic Revolutionary Guard Corps (IRGC)-backed extortion network that forces commercial vessels to purchase mandatory maritime insurance to transit the Strait of Hormuz. Concurrently, OFAC designated eight shipping companies and identified eight vessels as blocked property for transporting Iranian crude oil and petrochemical products. The designated companies include Qi Hang Ship Management Limited, Marinova Freight Limited, Vast Mighty Limited, Ocean Tranquility Limited, Branch Saying International Trading Company Limited, Confident Apex Limited, Billion Nexus International Company Limited and Nevada Spirit Company Limited. As a result of the new sanctions designations, all US-based property and interests of these targets are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC.
3355531 pc Jul 30, 2026 kgurnani South Africa Reserve Bank of South Africa horizon scanning
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South Africa's Reserve Bank Introduces Angolan Kwanza as Settlement Currency in SADC-RTGS System

On July 27, 2026, the South African Reserve Bank (SARB) formally announced the introduction of the Angolan kwanza as a settlement currency in the Southern African Development Community real-time gross settlement (SADC-RTGS) system. Lesetja Kganyago, Governor of the SARB and Chairperson of the SADC Committee of Central Bank Governors (CCBG), and Manuel Tiago Dias, Governor of the Banco Nacional de Angola, made the joint announcement to support regional payments modernisation efforts. The kwanza becomes the second settlement currency in the SADC-RTGS system, which has exclusively settled transactions in South African rand since its inception in 2013. The system currently includes 15 participating countries. The introduction aligns with Group of Twenty (G20) cross-border payment goals of reducing costs, increasing speed and improving efficiency in cross-border transactions. By enabling direct settlement in kwanza, participants transacting in the currency can reduce foreign exchange conversion requirements, thereby lowering transaction costs for participants and their customers. The multi-currency capability strengthens regional financial integration, promotes greater use of local and regional currencies in cross-border trade and reduces reliance on non-SADC currencies. The SARB intends to onboard additional regional currencies, such as the Botswana pula, in due course. A more diverse set of settlement currencies makes it easier for businesses and customers to transact across SADC countries in local currencies, while faster settlement helps businesses manage cash flow more efficiently and access funds more quickly when trading across the region. The SARB has also noted an increase in cross-border payment facilitator activities in the region, reflecting growing demand for enhanced payment infrastructure and services across SADC member states.

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South Africa's Reserve Bank Introduces Angolan Kwanza as Settlement Currency in SADC-RTGS System

On July 27, 2026, the South African Reserve Bank (SARB) formally announced the introduction of the Angolan kwanza as a settlement currency in the Southern African Development Community real-time gross settlement (SADC-RTGS) system. This makes the kwanza the second settlement currency in the SADC-RTGS system, which has exclusively settled transactions in South African rand since its inception in 2013. The system currently includes 15 participating countries. The introduction aligns with Group of Twenty (G20) cross-border payment goals of reducing costs, increasing speed and improving efficiency in cross-border transactions. By enabling direct settlement in kwanza, participants transacting in the currency can reduce foreign exchange conversion requirements, thereby lowering transaction costs for participants and their customers. The multi-currency capability strengthens regional financial integration, promotes greater use of local and regional currencies in cross-border trade and reduces reliance on non-SADC currencies. The SARB intends to onboard additional regional currencies, such as the Botswana pula, in due course. The SARB has also noted an increase in cross-border payment facilitator activities in the region, reflecting growing demand for enhanced payment infrastructure and services across SADC member states.
3363467 pc Jul 30, 2026 kgurnani Australia Australian Securities and Investments Comission horizon scanning
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Australian Securities and Investments Commission Simplifies Beneficial Ownership Disclosure Requirements for Listed Entities

On December 4, 2026, the Australian Securities and Investments Commission (ASIC) implemented enhanced beneficial ownership reforms that streamline compliance obligations for listed entities on Australian financial markets. The reforms, which passed in December 2025, introduce simplified disclosure requirements designed to improve transparency regarding ultimate ownership, control, and significant economic exposure to listed companies. ASIC has consolidated three separate forms into a single Substantial Holding Notice (SHN) form, simplifying the calculation methodology for determining deemed economic interests and offsetting short positions in listed securities. The regulator has also implemented an index-based format for registers of relevant interests (RORI). These changes reflect ASIC's commitment to minimising regulatory burden while maintaining market transparency and oversight. ASIC registered the ASIC Corporations (Listed Entities Enhanced Beneficial Ownership) Instrument 2026/482 on the Federal Register of Legislation and made the ASIC Corporations (Amendment and Repeal) Instrument 2026/483 to amend and repeal related relief instruments. ASIC has updated multiple regulatory guides to reflect the reforms, including Regulatory Guide 5 (Relevant interests and deemed economic interests), Regulatory Guide 9 (Takeover Bids), and Regulatory Guide 222 (Substantial holding disclosure and tracing requirements). The regulator has also made consequential amendments to Regulatory Guides 6, 10, 74, 128, and 193. Until June 4, 2027, interest holders may comply using either the new SHN or three replacement forms replacing Forms 603, 604, and 605. ASIC is exploring with market operators a web-based portal for submitting substantial holding information to further streamline the process.

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Australian Securities and Investments Commission Simplifies Beneficial Ownership Disclosure Requirements for Listed Entities

On July 30, 2026, the Australian Securities and Investments Commission (ASIC) implemented enhanced beneficial ownership reforms that streamline compliance obligations for listed entities on Australian financial markets. The reforms, which passed in December 2025, introduce simplified disclosure requirements designed to improve transparency regarding ultimate ownership, control, and significant economic exposure to listed companies. The main changes are: A new consolidated Substantial Holding Notice, replacing three earlier forms. Broader disclosure of economic exposure obtained through instruments such as equity derivatives, even where the holder does not have direct voting rights. A simplified method for calculating deemed economic interests and offsetting short positions. A standard index-based format for listed entities’ registers of relevant interests. Updated guidance in RG 5 , RG 9 and RG 222 covering substantial holdings, takeovers, tracing notices, securities lending and prime-broking arrangements. Extension of the regime to foreign-incorporated entities listed on Australian securities exchang es , aligning them with Australian-listed entities. The changes come into effect on December 4, 2026. Until June 4, 2027, substantial holders may use either the new consolidated notice or the replacement versions of the existing forms.
3362766 pc Jul 30, 2026 arahman European Union Press Releases - European Parliament horizon scanning
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1145 chars · nid 94313

Council Decision (CFSP) 2026/1713 Published in the Official Gazette

On July 13, 2026, Council Decision (CFSP) 2026/1713 amending Decision (CFSP) 2019/797 was published in the Official Journal of the European Union. The decision added four entities to the list of natural and legal persons, entities and bodies subject to restrictive measures. The following entities have been added to the list: Media Land LLC: Since 2016, Bullet Proof Hosting service Media Land LLC has facilitated a wide array of malware attacks against the Member States and globally by offering hosting services that hide user identities and resist law enforcement takedowns, leading to significant financial losses. ML Cloud: ML Cloud is the sister company of Media Land LLC, and provides the technical infrastructure for Media Land LLC. Impuls LLC: This is a Russian company owned by Evgeniy Viktorovich Bashev, a member of the Russian Military Intelligence Agency GRU. Z-Pentest: Z-Pentest is a pro-Russia hacktivist group, composed of members from CARR (Cyber Army of Russia Reborn) and NoName057, globally targeting critical infrastructure, especially the energy and water sector. This decision comes into effect on July 13, 2026.
3362768 pc Jul 30, 2026 arahman European Union Press Releases - European Parliament horizon scanning
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490 chars · nid 94310

Council Decision (CFSP) 2026/1723 Published in the Official Gazette

On July 13, 2026, Council Decision (CFSP) 2026/1723 amending Decision (CFSP) 2020/1999 was published in the Official Journal of the European Union. The decision added one entity to the list of natural and legal persons, entities and bodies subject to restrictive measures. Sizo 2 has now been added to the list as it is a Russian detention facility used to hold Ukrainian prisoners of war and civilians, including journalists and women. This decision enters into effect on July 13, 2026.
3362764 pc Jul 30, 2026 arahman European Union Press Releases - European Parliament horizon scanning
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European Union Council Adopts Restrictive Measures Against Russia and Adds Sanctioned Persons and Entities

On July 29, 2026, the High Representative of the European Union (EU) issued a statement on behalf of the EU regarding the alignment of certain countries with restrictive measures concerning the situation in Russia. On July 13, 2026, the Council of the European Union adopted Decision (CFSP) 2026/1709, which amended the sanctions regime established under Decision (CFSP) 2024/1484. The Council added 11 natural persons and 5 entities to the list of natural and legal persons, entities and bodies set out in Annex I to Decision (CFSP) 2024/1484. This expansion of the sanctions list represents a continuation of the EU's response to Russia's war against Ukraine. Nine countries aligned themselves with the Council Decision: Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Moldova, Montenegro, North Macedonia, Norway, and Ukraine. These countries committed to ensuring that their national policies conform to the Council Decision, demonstrating coordinated international support for the EU's sanctions regime. The EU welcomed the alignment of these countries with the restrictive measures, noting their commitment to implementing the sanctions in their respective jurisdictions. The decision reflects the continued international effort to respond to Russia's military actions through coordinated economic and diplomatic measures. The Official Journal of the European Union published the decision on July 13, 2026, under reference ELI: http://data.europa.eu/eli/dec/2026/1709/oj. This alignment by non-EU member states and candidate countries strengthens the effectiveness of the EU's sanctions framework by extending its reach beyond EU borders and demonstrating broader international consensus on restrictive measures related to Russia.

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Council Decision (CFSP) 2026/1709 Published in the Official Gazette

On July 13, 2026, Council Decision (CFSP) 2026/1709 amending Decision (CFSP) 2024/1484 concerning restrictive measures in the view of the situation in Russia was published in the Official Journal of the European Union. The decision added five entities to the list of natural and legal persons, entities and bodies subject to restrictive measures. The following entities have been added to the list: VK (previously known as Mail.ru group or VK Company Limited): VK is the parent company of Communication Platform LLC, the developer and manager of the state-supported mobile phone application Max. According to numerous experts, the Max application has extensive surveillance features and can monitor communications, including the use of virtual private networks (VPNs), gather data on other applications installed on phones, monitor address books, identify users' locations, and install autonomous updates. Communication Platform LLC: a subsidiary of VK (formerly VKontakte) and the developer and manager of the state-supported mobile app Max. VAS Experts: VAS Experts manufactures, develops, and sells hardware and software related to the so-called System of Operative Investigative Measures (SORM). SORM is a surveillance system used since the mid-1990s to control internet and mobile communications in Russia. Norsi Trans: This company manufactures, develops, and sells hardware and software related to the so-called System of Operative Investigative Measures (SORM). LLC Citadel: LLC Citadel operates in Moscow and Nizhny Novgorod and develops, implements and provides support for software and hardware of the so-called SORM. This decision shall enter into force on July 13, 2026.
3362769 pc Jul 30, 2026 arahman European Union Press Releases - European Parliament horizon scanning
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423 chars · nid 94308

Decision (CFSP) 2026/1767 Published in the Official Gazette

On July 20, 2026, Council Decision (CFSP) 2026/1767 amending Decision (CFSP) 2021/1277 on restrictive measures in view of the situation in Lebanon was published in the Official Journal of the European Union. The decision extends the framework for imposing targeted restrictive measures to address the situation in Lebanon for an additional year, until July 31, 2027. This decision shall enter into force on July 21, 2026.
3363690 pc Jul 30, 2026 arahman European Union The Single Resolution Board - News financial services
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European Union's Single Resolution Board Publishes Operational Guidance on Business Reorganisation Plan Analysis Reports

On July 30, 2026, the Single Resolution Board (SRB) published its Operational Guidance for banks on Business Reorganisation Plan Analysis Reports (BRP AR) alongside a complementary quantitative template. The guidance follows a public consultation that ran from February 3 to March 30, 2026. The Operational Guidance provides banks with a consolidated, transparent framework to strengthen their crisis preparedness and resolvability without introducing new requirements. The SRB developed the guidance in response to an industry request for a publicly available, standardised reference to harmonise expectations and enhance consistency in reorganisation planning. The documents compile and clarify already existing expectations rather than imposing additional obligations on financial institutions. The guidance addresses expectations regarding business reorganisation plan analysis reports and the production of business reorganisation plans (BRPs), which must be prepared following the application of open bank bail-in (OBBI). The non-mandatory quantitative template provides practical support to banks in meeting these expectations. SRB Chair Dominique Laboureix said the new guidance aligns with the SRB's broader efforts to strengthen banks' resolvability self-assessment and resolvability testing, fostering a robust and standardised approach to crisis preparedness across the banking sector. The SRB reserves the right to deviate from the actions and expectations described in the guidance depending on specific situations and in line with applicable legal frameworks. The feedback statement to the public consultation, the Operational Guidance document, and the quantitative template are all available on the SRB's website. Banks should consider the guidance when evidencing capabilities regarding business reorganisation plans required in crisis situations. REFERENCES: https://www.srb.europa.eu/en/news/srb-publishes-renewed-operational-guidance-business-reorganisation-plan-analysis-reports

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European Union's Single Resolution Board Publishes Operational Guidance on Business Reorganisation Plan Analysis Reports

On July 30, 2026, the Single Resolution Board (SRB) published its Operational Guidance for banks on Business Reorganisation Plan Analysis Reports (BRP AR) alongside a complementary quantitative template . The guidance provides banks with a consolidated, transparent framework to strengthen their crisis preparedness and resolvability without introducing new requirements. Key highlights include: A response to an industry request for a publicly available, standardised reference to harmonise expectations and enhance consistency in reorganisation planning. A single, coherent framework compiling and clarifying already existing expectations. Practical support for banks is provided through the non-mandatory quantitative template.
3361602 pc Jul 30, 2026 arahman European Union European Parliament horizon scanning
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European Parliament Receives Commission Document on Protecting European Union Financial Interests Against Fraud

On July 28, 2026, the European Commission submitted a document (COM(2026)0411) to the European Parliament concerning the protection of the European Union's (EU) financial interests and the fight against fraud. The submission forms part of the 37th Annual Report on this subject. The document addresses the EU's efforts to safeguard its financial interests against fraudulent activities. The European Parliament's Committee on Budgetary Control (CONT) has been designated as the committee responsible for examining the proposal. Multiple parliamentary committees have been appointed to provide opinions on the document, including the Committee on International Trade (INTA), the Committee on Economic and Monetary Affairs (ECON), the Committee on Regional Development (REGI), the Committee on Agriculture and Rural Development (AGRI), the Committee on Fisheries (PECH), and the Committee on Civil Liberties, Justice and Home Affairs (LIBE). On July 29, 2026, the document was internally referred to the relevant parliamentary committees, marking the beginning of the preparatory phase within Parliament. The procedure is currently in its early stages, with committees expected to review the Commission's proposals and provide their assessments. The involvement of multiple committees reflects the cross-cutting nature of financial protection and fraud prevention across various policy areas including trade, economic affairs, regional development, agriculture, fisheries, and civil liberties. Further documentation and follow-up materials related to this procedure are available through the European Parliament's Documentation Gateway.

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European Commission Publishes Report on European Union's Financial Interests and the Fight Against Fraud

On July 28, 2026, the European Commission published a report on the protection of the European Union's Financial Interests and the Fight Against Fraud 2025. The review is necessary given the growing threats posed by organised crime and fraudsters exploiting emerging technologies such as artificial intelligence and cryptocurrencies. The annual report outlines six priorities: Enhancing cooperation and coordination between competent authorities. Strengthening fraud prevention measures. Improving detection of fraudulent activities. Ensuring high-quality reporting. Improving investigation and prosecution capabilities. Streamlining recovery processes. The report indicates that EU anti-fraud policy is evolving towards a more integrated, prevention-focused and performance-driven framework, supported by improved reporting, data sharing, technological tools and closer cooperation between EU and national anti-fraud authorities.
3361742 pc Jul 29, 2026 ataylor Canada News - Canadian Investment Regulatory Organization financial services
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Canada's Securities Regulators Issue Guidance on Foreign-Listed Exchange-Traded Fund Practices

On July 29, 2026, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) issued Staff Notice 81-339, providing guidance on industry practices relating to the marketing and sale of exchange-traded funds (ETFs) listed on foreign exchanges but not on Canadian exchanges. The guidance addresses stakeholder concerns about foreign ETF availability to Canadian investors through registered dealers. While stakeholders broadly support continued investor access to foreign ETFs, some raised concerns about availability and highlighted the need for enhanced disclosure. The CSA and CIRO developed the guidance to respond to these concerns by reminding market participants that active marketing or promotion of a foreign ETF in Canada could trigger prospectus requirements and, in certain jurisdictions, investment fund manager registration requirements. The guidance clarifies how know-your-product, know-your-client, and suitability determination obligations apply to foreign ETF sales. It also encourages order execution-only dealers to provide improved disclosure to investors before they purchase foreign ETFs, supporting more informed investment decisions. Stan Magidson, CSA Chair and Chair and Chief Executive of the Alberta Securities Commission, said the guidance encourages practices supporting investors in making informed decisions when choosing between Canadian and foreign ETFs. Andrew J. Kriegler, CIRO President and Chief Executive, said the guidance will help ensure Canadian investors purchasing foreign ETFs have a clear understanding of the products they are investing in. The CSA and CIRO will continue monitoring developments in this area to assess whether further policy initiatives are needed. Staff Notice 81-339 follows the June 2025 publication of CSA Consultation Paper 81-409, which proposed enhancements to the ETF regulatory framework based on an Ontario Securities Commission study of the Canadian ETF market and International Organization of Securities Commissions guidance on exchange-traded funds.

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Canadian Securities Administrators and Canadian Investment Regulatory Organization Issue Guidance on Foreign-Listed Exchange-Traded Funds

On July 29, 2026, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) published Joint Staff Notice 81-339, which sets out guidance on industry practices relating to the marketing and sale of exchange-traded funds (ETFs) listed on a foreign exchange but not also listed on a Canadian exchange. The Notice responds to stakeholder feedback received during the CSA's consultation on enhancing ETF regulation, which identified broad support for maintaining investor access to foreign ETFs but also concerns about regulatory differences, investor misunderstanding, and the need for enhanced disclosure. Key guidance includes: Marketing of foreign ETFs: The Notice reminds managers of foreign ETFs that active marketing or promotion in Canada could trigger the prospectus requirement and, in Ontario, Quebec, and Newfoundland and Labrador, the investment fund manager registration requirement. The Notice further explains that managers of Foreign ETFs must not distribute a security unless a prospectus has been filed and a receipt for the prospectus has been issued. Therefore, an investment fund, including a foreign ETF, must file and receive a receipt for a prospectus before it can distribute its securities in Canada, absent an exemption. Activities constituting active marketing include soliciting dealers, providing compensation or incentives, or placing advertisements in Canadian social media. Know Your Product and due diligence: Dealers must not make foreign ETFs available to clients unless they have assessed the securities' structure, features, risks, and costs, approved the securities, and monitored for significant changes. For foreign ETFs, this includes assessing disclosure, tax considerations, currency exposure, and implications of the manager not being registered in Canada or the ETF not being distributed under a Canadian prospectus. Know Your Client and suitability: Before recommending a foreign ETF, representatives must consider whether the client understands the key differences between foreign and Canadian ETFs, including regulatory differences, tax considerations, and currency implications. Representatives may only recommend a foreign ETF if it is suitable for the client and puts the client's interest first. Representatives must also periodically review accounts to ensure foreign ETF holdings continue to be suitable. Order execution-only dealers: The Notice encourages order execution-only dealers to provide alerts at critical interaction points prior to a client's purchase of a foreign ETF to inform investors of the key differences between foreign and Canadian ETFs such as tax considerations and currency conversion costs. Such alerts could be communicated through pop-up windows, confirmation checkboxes, or oral communication for phone orders. The guidance is based on existing securities regulatory requirements and does not create new legal requirements. The CSA and CIRO will continue to monitor developments in this area and consider whether further policy initiatives are needed.
3361531 gc Jul 29, 2026 apintea Malta Malta Gaming Authority-news gamblingcompliance
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Malta Gaming Authority Publishes Thematic Review Findings on Governance Assurance Key Functions

The Malta Gaming Authority (MGA) published findings from its Thematic Review on Governance Assurance – Key Functions, a supervisory priority identified for 2025. The review assessed governance arrangements across a sample of business-to-business (B2B) and business-to-consumer (B2C) Authorised Persons, focusing on the effectiveness of the chief executive, Compliance, Internal Audit, and Prevention of Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) functions in practice. The MGA conducted the review through Supervisory Reviews and Supervisory Meetings, finding that many Authorised Persons have established mature governance frameworks supported by active senior leadership, engaged Key Function Holders, and increasingly risk-based approaches to governance, compliance, internal audit, and AML/CTF oversight. However, the review identified opportunities for further enhancement across the sector. Common themes included over-reliance on a limited number of senior decision-makers, insufficient evidence of challenge and impact assessment in strategic decision-making, and weaknesses in audit trails. The strongest governance arrangements were characterised by active leadership engagement, empowered Key Function Holders, effective collaboration across assurance functions, and governance processes embedded into day-to-day decision-making. Examples of good practice included structured escalation procedures, risk-based monitoring programmes, independent assurance functions, governance committees, and proactive consideration of regulatory implications when entering new markets or implementing significant business changes. The MGA intends the publication to support Authorised Persons in assessing the effectiveness of their governance arrangements, identifying opportunities for improvement, and strengthening oversight, accountability, and assurance across key governance functions. The Authority remains committed to promoting transparency, consistency, and high standards of governance across the online gaming sector through ongoing supervisory engagement and outreach.

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Malta Gaming Authority publishes thematic review findings on governance assurance key functions

On July 29, 2026, the Malta Gaming Authority (MGA) published findings from its thematic review on governance assurance – key functions, a supervisory priority identified for 2025. The review assessed governance arrangements across a sample of business-to-business (B2B) and business-to-consumer (B2C) authorised persons, focusing on the effectiveness of the chief executive, compliance, internal audit, and prevention of anti-money laundering and counter-terrorism financing (AML/CTF) functions in practice. The MGA conducted the review through supervisory reviews and supervisory meetings, finding that many authorised persons have established mature governance frameworks supported by active senior leadership, engaged key function holders, and increasingly risk-based approaches to governance, compliance, internal audit, and AML/CTF oversight. However, the review identified opportunities for further enhancement across the sector. Common themes included over-reliance on a limited number of senior decision-makers, insufficient evidence of challenge and impact assessment in strategic decision-making, and weaknesses in audit trails. The strongest governance arrangements were characterised by active leadership engagement, empowered key function holders, effective collaboration across assurance functions, and governance processes embedded into day-to-day decision-making. Examples of good practice included structured escalation procedures, risk-based monitoring programmes, independent assurance functions, governance committees, and proactive consideration of regulatory implications when entering new markets or implementing significant business changes. T The MGA intends the publication to support authorised persons in assessing the effectiveness of their governance arrangements, identifying opportunities for improvement, and strengthening oversight, accountability, and assurance across key governance functions. The authority remains committed to promoting transparency, consistency, and high standards of governance across the online gaming sector through ongoing supervisory engagement and outreach.
3358803 pc Jul 29, 2026 pthandapani Hong Kong News - Securities and Futures Commission financial services
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Hong Kong Securities and Futures Commission Fines Luk Fook Securities $2.1 Million for Inadequate Cybersecurity Controls

On July 28, 2026, the Securities and Futures Commission (SFC) reprimanded and fined Luk Fook Securities (HK) Limited (LFSHK) $2.1 million for failing to implement adequate and effective cybersecurity control measures. The firm's deficient controls contributed to its inability to withstand a ransomware attack on September 19, 2022, and resulted in approximately three weeks of system recovery time until October 7, 2022. The September 2022 cyberattack compromised LFSHK's critical IT infrastructure, including file servers, domain controllers, email servers, trading application servers, and accounting servers. During the recovery period, clients could not trade via the firm's mobile trading app or internet platform and could only place orders through account executives. The SFC's investigation identified multiple systemic cybersecurity deficiencies that increased LFSHK's vulnerability to attack and delayed recovery. These included: lack of firewall protection and adequate network monitoring; outdated operating systems and antivirus software; weak user access and privileged account controls; poor password management practices, including storing credentials in unencrypted files; insufficient remote access and external device controls; lack of regular cybersecurity awareness training for staff; and inadequate data backup and business continuity arrangements. The hacker exploited LFSHK's remote access system to gain entry to its servers. The SFC determined that LFSHK failed to fully comply with cybersecurity requirements applicable to its regulated activities under the Securities and Futures Ordinance. LFSHK holds licences for Type 1 (dealing in securities), Type 4 (advising on securities), and Type 9 (asset management) activities. In mitigation, the SFC considered that LFSHK appointed an independent reviewer to assess the incident, implemented system enhancements, cooperated with the SFC, maintained a clean disciplinary record, and no clients suffered losses from the deficiencies.

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Hong Kong Securities and Futures Commission Fines Luk Fook Securities (HK) Limited $2.1 Million for Inadequate Cybersecurity Controls

On July 28, 2026,  the Hong Kong Securities and Futures Commission (SFC) has imposed a fine of HK$2.1 million on Luk Fook Securities (HK) Limited (LFSHK) for failing to implement adequate and effective cybersecurity control measures in breach of the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission and the Guidelines for Reducing and Mitigating Hacking Risks Associated with Internet Trading . The SFC found that between September 19, 2022 and October 7, 2022, LFSHK had suffered a ransomware attack resulting from a hacker exploiting remote access to its environment, which disrupted critical IT infrastructure and left clients unable to trade via the mobile trading app or internet platform. The SFC further found that LFSHK did not have in place sufficient network security controls for protecting its network devices or any procedures to ensure its operating systems, remote access protocols, and antivirus protection were adequately updated and shielded against external threats. These failures, coupled with the SFC’s findings that LFSHK failed to implement an adequate business continuity plan and safeguard daily data backups to withstand the ransomware attack amounted to a breach of its responsibilities under both regulatory frameworks.
3360457 pc Jul 29, 2026 msolomon Austria Federal Gazette financial services
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Austria Amends Consumer Rights Legislation and Repeals Remote Financial Services Act

On July 28, 2026, Austria's Federal Gazette published the Consumer Rights Amendment Act 2026 (Verbraucherrechts-Änderungsgesetz 2026 – VerbRÄG 2026), a comprehensive legislative reform amending multiple consumer protection and financial services statutes. The act modifies five existing laws: the Distance and Off-Premises Contracts Act (Fern- und Auswärtsgeschäfte-Gesetz), the Consumer Protection Act (Konsumentenschutzgesetz), the Insurance Contract Act (Versicherungsvertragsgesetz), the Payment Services Act 2018 (Zahlungsdienstegesetz 2018), and the Consumer Authority Cooperation Act (Verbraucherbehördenkooperationsgesetz). Additionally, the legislation repeals the Remote Financial Services Act (Fern-Finanzdienstleistungs-Gesetz) entirely. The reform implements European Union Directives 2023/2673 and 2024/0825, aligning Austrian consumer protection frameworks with updated EU requirements. The amendments address consumer rights across distance contracting, insurance, payment services, and financial services provision, consolidating regulatory oversight under the amended statutes while eliminating the standalone remote financial services regime. The Austrian National Parliament (Nationalrat) passed the legislation on July 7, 2026, following committee review. The Federal Council (Bundesrat) approved the measure on July 15, 2026. The act entered into force upon publication in the Federal Gazette on July 28, 2026. REFERENCES: Austrian Federal Gazette (Bundesgesetzblatt) I Nr. 59/2026, published July 28, 2026 https://www.ris.bka.gv.at/eli/bgbl/I/2026/59/20260728

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Austria Publishes Consumer Rights Amendment Act 2026

On July 28, 2026, the Consumer Rights Amendment Act 2026 (Verbraucherrechts-Änderungsgesetz 2026 – VerbRÄG 2026) was published in the Austrian federal gazette. The act implements Directive (EU) 2023/2673 governing distance marketing of consumer financial service and Directive (EU) 2024/825 broadening the scope of unfair commercial practices. The act modifies five existing laws: the Distance and Off-Premises Contracts Act, the Consumer Protection Act , the Insurance Contract Act, the Payment Services Act 2018, and the Consumer Authority Cooperation Act. It also repeals the Distance Financial Services Act entirely, where provisions governing financial services contracts concluded with a consumer at a distance have been set to date. However Directive (EU) 2023/2673 provides a transparent framework as well as the provision for the inclusion of a mandatory withdraw button for consumers. The Distance Financial Services Act expires on  September 30, 2026, but will continue to apply to contracts concluded beforeOctober 1,2026.
3360431 pc Jul 29, 2026 pthandapani Vietnam Vietnam Government Portal financial services
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Vietnam Government Issues Decree on Administrative Penalties for Crypto-Assets and Crypto-Asset Markets

On July 16, 2026, the Vietnam Government issued Decree 284/2026/NĐ-CP establishing administrative penalties for violations related to crypto-assets and crypto-asset markets. The decree takes effect on September 1, 2026. The decree establishes a regulatory framework for enforcing compliance with rules governing crypto-assets and the crypto-asset market in Vietnam. It sets out administrative penalties applicable to entities and individuals that violate regulations concerning crypto-asset activities and market conduct. The decree applies to all participants in Vietnam's crypto-asset ecosystem, including traders, service providers, and market intermediaries. By establishing clear penalty provisions, the decree aims to create enforceable standards for market conduct and protect market integrity within Vietnam's crypto-asset sector. The decree represents a significant step in Vietnam's regulatory approach to crypto-assets, formalising administrative enforcement mechanisms that were previously absent or unclear. This development signals the government's commitment to establishing a structured regulatory environment for digital assets, which has become increasingly important as crypto-asset adoption grows across Vietnam. The decree came into effect on September 1, 2026. Market participants and crypto-asset service providers operating in Vietnam should ensure compliance with the penalty provisions outlined in the decree to avoid administrative sanctions. **REFERENCE:** Vietnam Government Portal, Decree 284/2026/NĐ-CP on Administrative Penalties for Violations Concerning Crypto-Assets and Crypto-Asset Markets, July 16, 2026. Available at: congbao.chinhphu.vn

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Vietnamese Government Issues Decree on Administrative Penalties for Crypto-Assets and Crypto-Asset Markets

On July 16, 2026, the Vietnamese Government issued Decree No. 284/2026/NĐ-CP regarding administrative penalties for crypto assets and the crypto asset market. The issued decree contains: Regulations prescribing the scope of administrative violations, penalty forms, fine levels, and remedial measures for activities within the crypto asset market in Vietnam. Specific rules mandating the maximum fine limits, which are set at VND 200m (US$7,598) for organizations and VND 100m (US$3,799) for individuals, alongside supplementary penalties such as license revocation or the suspension of trading activities. Administrative measures detailing the specific violations and associated fines for the offering and issuance of crypto assets, the organization of trading platforms, and the responsibilities of service providers. Provisions outlining severe financial penalties for non-compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, including failures in customer identification or suspicious transaction reporting. Directives establishing the enforcement of remedial measures, which include forcing the cancellation of illegal crypto asset offerings, refunding invested money to investors, and confiscating any illegal profits obtained from violations. The decree takes effect on September 1, 2026.
3360814 pc Jul 29, 2026 kgurnani United Arab Emirates Capital Market Authority - Latest Regulations horizon scanning
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United Arab Emirates Capital Market Authority Amends Technical Services Fees for Market Participants

On July 23, 2026, the Capital Market Authority (CMA) of the United Arab Emirates amended its technical services fees through Chairman's Resolution No. (18/Chairman) of 2026. The resolution modifies the CMA's fee structure established under the previous Chairman's Resolution No. (32) of 2018, reflecting changes to the regulatory framework following the adoption of Federal Decree by Law No. (33) of 2025 Regarding the Regulation of Capital Market. The CMA introduced new fees applicable to various market activities and services. These include a 75,000 United Arab Emirates dirham (AED) fee for approval of public offering prospectuses for shares of local public joint-stock companies and entities incorporated outside the state or in free zones; a 5,000 AED fee for approval of listing tradeable product contracts; a 30,000 AED fee for registration of capital increase shares for entities incorporated outside the state for listing purposes; and a 5,000 AED fee for requests to temporarily suspend a license, approval, or registration. The CMA also established new fees for credit rating activity licensing (5,000 AED), in-kind assets valuer registration for funds (2,000 AED plus 1,000 AED per entity evaluated annually), and amendments to public offering prospectuses (2,000 AED). Simultaneously, the CMA repealed fifteen existing fees, including charges for address or branch location changes, promotional advertising campaign approvals, investment fund reviews, and various cancellation fees for licenses and registrations related to investment funds, Global Depositary Receipts (GDRs), covered warrants, and financial products. The resolution comes into effect ten business days following its publication in the Official Gazette.

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United Arab Emirates Capital Market Authority Amends Technical Services Fees for Market Participants

The UAE Capital Market Authority (CMA) issued Chairman’s Resolution No. 18 of 2026, amending the technical-services fee schedule established under Chairman’s Resolution No. 32 of 2018. The resolution clarifies that the Authority may charge the fees in the amended schedule for technical services provided under the UAE’s 2025 Capital Market Law and its implementing decisions. New fees include: AED75,000 for approving a public offering prospectus for shares issued by UAE public joint-stock companies, overseas entities and entities established in UAE free zones or financial free zones. AED2,000 for approving certain post-approval amendments to public offering prospectuses. AED5,000 for approving an extension of a public offering period. AED30,000 for registering capital-increase shares of overseas or free-zone entities for listing purposes. AED5,000 for approving the listing of tradeable product contracts, plus a AED1,000 cancellation or deregistration fee. AED2,000 for amending the specifications of listed tradeable product contracts. The resolution also establishes a fee structure for credit-rating activities, in-kind asset valuers for funds, and temporary suspension requests. The Authority removes 15 existing fees, including charges relating to: Changes to the address or branch location of licensed firms. Approval of promotional advertising campaigns. Review of proposed new investment funds. Cancellation of local fund licenses and foreign-fund registrations. Cancellation of registrations for Global Depository Receipts (GDRs), covered warrants and financial products promoted in the UAE. Decisions on grievances. Retrieval of bank guarantees. Approval of certain combined positions. Outsourcing specified risk-management and credit-rating roles. The resolution is relevant principally to: Share issuers and entities undertaking public offerings. Overseas and free-zone entities seeking UAE listings. Operators or issuers of listed tradeable product contracts. Credit-rating agencies. Fund asset valuers. Investment funds, fund promoters and other CMA-licensed or registered entities. The new fees come into effect on August 2, 2026.
3357927 pc Jul 29, 2026 msolomon Germany Official Gazette horizon scanning
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Germany Publishes Implementation Law for European Union Artificial Intelligence Regulation

On July 28, 2026, Germany's Official Gazette published the Act for Implementation of Regulation (EU) 2024/1689 on Harmonised Rules for Artificial Intelligence (AI Regulation Implementation Act). The Federal Ministry for Digital Affairs and State Modernisation led the development of this legislation, which was signed on July 22, 2026. The act implements the European Union's AI Regulation 2024/1689, adopted by the European Parliament and Council on June 13, 2024. This regulation establishes harmonised rules for artificial intelligence across the EU and amends multiple existing regulations and directives covering aviation safety, railway interoperability, motor vehicle requirements, maritime equipment, aviation personnel licensing, and consumer rights protection. The German implementation law ensures compliance with these harmonised AI standards at the national level and integrates the EU framework into German law. The legislation addresses artificial intelligence governance across multiple sectors and establishes requirements for AI system development, deployment, and oversight. The act modifies provisions across several regulatory domains, including those governing transport safety, consumer protection, and administrative procedures. The Federal Ministry for Digital Affairs and State Modernisation is responsible for coordinating implementation across relevant German authorities and ensuring alignment with EU requirements. The full text of the AI Regulation Implementation Act is available in the German Official Gazette (Bundesgesetzblatt Teil I, Nr. 223, 2026) and has been published in accessible and barrier-reduced PDF format. The legislation entered into force upon publication on July 28, 2026. REFERENCES: Bundesgesetzblatt Teil I, Nr. 223 (July 28, 2026): Gesetz zur Durchführung der Verordnung (EU) 2024/1689

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965 chars · nid 94286

Germany Publishes Act Implementing the Regulation on Artificial Intelligence

On July 28, 2026, the Act Implementing the Regulation on Artificial Intelligence was published in the German federal gazette. This act implements Regulation (EU) 2024/1689, laying down harmonised rules on artificial intelligence (AI). The act establishes requirements for AI system development, deployment, and oversight and modifies provisions across several sectors including financial services. The legislation designates the Federal Financial Supervisory Authority (BaFin) as the competent market surveillance authority for AI systems directly related to a regulated financial activity which are placed on the market, put into service or used by undertakings supervised by BaFin including the following: credit institutions; issuers of asset-backed tokens; providers of crypto-asset services; investment holding companies; financial holding companies; mixed financial holding companies; payment institutions; e-money institutions; and securities institutions.
2998427 pc Jul 29, 2026 tojuri Spain Congress of Deputies horizon scanning
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I appreciate your detailed instructions, but I must note that the source material provided appears to be a navigation menu and metadata from the Congress of Deputies website rather than substantive legislative content about a specific bill or initiative. The only identifiable legislative item in the source is: **Proyecto de Ley de protección y resiliencia de las entidades críticas** (Bill 121/000088) - Presented: March 18, 2026 - Qualified: March 24, 2026 - Author: Government However, this metadata alone lacks the substantive detail required to generate a meaningful horizon scanning update (such as the bill's purpose, scope, key provisions, affected entities, consultation periods, or effective dates). **To generate a compliant update, I would need:** - The bill's full text or official summary - Details on what protections and resilience measures it proposes - Which critical entities or sectors it covers - Any consultation or parliamentary procedures underway - Expected next steps or voting dates Could you provide the actual bill content or a more detailed source document? I'm ready to generate the update immediately upon receipt of substantive material.

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899 chars · nid 94291

Spanish Government Submits Bill on the Resilience of Critical Entities to Congress of Deputies

The Spanish government has submitted a draft law on the protection and resilience of critical entities to the Congress of Deputies. The bill serves to transpose the provision of Directive (EU) 2022/2557 on the resilience of critical entities, which lays down obligations on member states to take specific measures aimed at ensuring that they are essential for the maintenance of vital societal functions or economic activities, including banking and the financial market infrastructures. The bill aims to ensure that critical infrastructure operators take measures to minimise the risk of disruption to the provision of essential services and to extend protection to essential sectors other than transport and energy, in line with the essential services sectors set out in the draft bill transposing Directive (EU) 2022/2555 . The bill is currently in the early stages of the legislative process.
3359983 gc Jul 29, 2026 gkaliraman United Kingdom Advertising Standards Authority gamblingcompliance
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United Kingdom Advertising Standards Authority Upholds Ruling Against BoyleSports Gambling Advertisement

On July 29, 2026, the Advertising Standards Authority (ASA) upheld a ruling against BoyleSports (Gibraltar) Ltd t/a BoyleSports regarding a paid-for online display advertisement for a sports betting promotion. The ad, which appeared on the Racing Post website on March 3, 2026, featured text promoting "BANK BUILDER JACKPOT" and "UP TO £60 IN FREE BETS SHARE OF £10K EVERY WEEK." The ASA determined that the promotion encouraged socially irresponsible gambling behaviour and could lead to financial harm. The promotion required customers to place and settle eligible bets of at least £10 per day on four to seven days within promotional weeks running from February 9 to March 8, 2026. While BoyleSports argued that participation was voluntary and lower-tier rewards were available, the ASA found that the mechanics encouraged frequent and repetitive participation. Customers betting on five or six days weekly would necessarily bet on consecutive days, and those pursuing the maximum benefit required betting every day for 28 days, costing at least £280. The ASA also noted that free bets credited after the promotion ended required use within five days, further encouraging immediate subsequent gambling participation. BoyleSports submitted customer data indicating that only approximately 2.5 percent of qualifying customers reached the seven-day tier and that average betting activity had not increased significantly during the promotion. However, the ASA concluded this evidence was insufficient to demonstrate the ad avoided encouraging frequent or repetitive participation. The ASA ruled that the advertisement breached CAP Code (Edition 12) rules 16.3 and 16.3.1 concerning gambling marketing communications. BoyleSports must ensure future advertisements do not encourage gambling behaviour that is socially irresponsible or could lead to financial harm, particularly by avoiding encouragement of frequent and repetitive participation.

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2049 chars · nid 52039

UK advertising regulator upholds ruling against BoyleSports gambling advertisement

On July 29, 2026, the UK Advertising Standards Authority (ASA) upheld a ruling against BoyleSports (Gibraltar) Ltd t/a BoyleSports regarding a paid-for online display advertisement for a sports betting promotion. The ad, which appeared on the Racing Post website on March 3, 2026, featured text promoting "BANK BUILDER JACKPOT" and "UP TO £60 IN FREE BETS SHARE OF £10K EVERY WEEK." The ASA determined that the promotion encouraged socially irresponsible gambling behaviour and could lead to financial harm. The promotion required customers to place and settle eligible bets of at least £10 per day on four to seven days within promotional weeks running from February 9 to March 8, 2026. While BoyleSports argued that participation was voluntary and lower-tier rewards were available, the ASA found that the mechanics encouraged frequent and repetitive participation. Customers betting on five or six days weekly would necessarily bet on consecutive days, and those pursuing the maximum benefit required betting every day for 28 days, costing at least £280. The ASA also noted that free bets credited after the promotion ended required use within five days, further encouraging immediate subsequent gambling participation. BoyleSports submitted customer data indicating that only approximately 2.5 percent of qualifying customers reached the seven-day tier and that average betting activity had not increased significantly during the promotion. However, the ASA concluded this evidence was insufficient to demonstrate the ad avoided encouraging frequent or repetitive participation. The ASA ruled that the advertisement breached rules 16.3 and 16.3.1 of the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) (Edition 12) , concerning gambling marketing communications. The ASA directed BoyleSports to ensure future advertisements do not encourage gambling behaviour that is socially irresponsible or could lead to financial harm, particularly by avoiding encouragement of frequent and repetitive participation.
3358662 pc Jul 29, 2026 csoo United Kingdom Competition and Markets Authority horizon scanning
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United Kingdom Home Office Launches Call for Evidence on Unauthorised Fraud

On July 15, 2026, the United Kingdom Home Office published a call for evidence seeking input from individuals and organisations with experience of unauthorised fraud in the UK. Unauthorised fraud occurs when fraudulent transactions are made without the victim's knowledge or consent, distinguishing it from fraud where victims are deceived into authorising transactions themselves. The government is undertaking a comprehensive review of the UK's response to unauthorised fraud. Through this call for evidence, the Home Office seeks data, intelligence, case studies, operational insights, technical assessments, and evaluations of existing or proposed prevention measures. This initiative aims to gather insights from stakeholders across the financial services sector, law enforcement, technology providers, and other relevant organisations to inform policy development and strengthen the UK's defences against unauthorised fraud. The call for evidence applies to all individuals and organisations with relevant expertise or experience in unauthorised fraud prevention, detection, or response. This includes financial institutions, payment service providers, technology companies, fraud prevention specialists, consumer advocates, and law enforcement agencies. The Home Office published the call for evidence in both English and Welsh, with a Welsh translation added on July 28, 2026. Responses must be submitted by October 7, 2026, at 11:59pm. Stakeholders can respond online or submit written responses via email to financecfe@homeoffice.gov.uk or by post to the Call for Evidence – Unauthorised Fraud, Homeland Security Group, 6th Floor, Peel Building, Home Office, 2 Marsham Street, London SW1P 4DF.

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2810 chars · nid 94290

UK's Home Office Launches Call for Evidence on Unauthorised Fraud

On July 15, 2026, the United Kingdom Home Office published a call for evidence seeking input from individuals and organisations with experience of unauthorised fraud in the UK. The scope is strictly limited to fraud where transactions are made without the victim's knowledge, consent, or participation. It explicitly excludes Authorised Push Payment (APP) fraud (where victims are manipulated into initiating the payment themselves). The call primarily focuses on three main types of unauthorised fraud: Unauthorised card fraud, including remote purchase fraud, counterfeit cards, lost/stolen cards, and card ID theft. Unauthorised remote banking fraud, covering online, mobile, and telephone banking channels. Unauthorised cheque fraud. The scope of this inquiry is structured around six core areas: Criminal Methodologies & Emerging Threats: Exploring how stakeholders define and differentiate unauthorised fraud (especially from authorised fraud), the specific methodologies criminals use, the prevalence of first-party fraud (e.g., in disputes and remote purchases), and the anticipated threats over the next 3 to 5 years. Drivers of Unauthorised Fraud: Investigating the root factors enabling these crimes, with a specific focus on the exploitation of new technologies like digital commerce, e-sims, app-based banking, digital wallets (pass-through and in-device), and the role of Artificial Intelligence both now and in the near future. Origins of the Attacks: Gathering data on where these fraud attempts most commonly originate (including specific platforms, devices, networks, and geographies) and analyzing the multi-channel, multi-step stages criminals use to execute them. Barriers to Reduction: Identifying the primary obstacles preventing a reduction in unauthorised fraud, determining which actors (e.g., government, industry, regulators) are best equipped to remove these barriers, and assessing how organisations balance commercial friction (speed and accessibility) with robust security. Existing Countermeasures: Assessing the current steps organisations have taken to prevent fraud, evaluating the effectiveness of firms' current transaction risk monitoring capabilities, and gathering international or UK-based examples of best practices that have successfully disrupted these crimes. Technical Standards, Controls & Authentication: Evaluating the effectiveness of existing authentication methods (such as PINs, One-Time Passwords, biometrics, and behavioural analytics), identifying commonly exploited weaknesses in current regulatory standards, and proposing new safeguards or controls to improve systemic resilience. This call for evidence closes on October 7, 2026, and responses can be submitted by email to financecfe@homeoffice.gov.uk or through the Smart Survey form .
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