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3287440 pc Jul 02, 2026 adavies Iceland Central Bank - News financial services
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Iceland's Central Bank Enforces Licensing Requirement for Crypto-Asset Service Providers

On July 1, 2026, Iceland's Central Bank enforced a licensing requirement for all entities providing crypto-asset services in Iceland. Only entities holding a licence as a Crypto-Asset Service Provider (CASP) under Law 101/2025 on Markets for Crypto-Assets may provide such services from this date forward. Law 101/2025, which entered into force on January 1, 2026, implemented European Union Regulation 2023/1114 on Markets for Crypto-Assets (Markets in Crypto-Assets Regulation – MiCA). Under Article 143 of MiCA, service providers previously registered under Law 140/2018 on Anti-Money Laundering and Counter-Terrorism Financing received a transition period until July 1, 2026 to obtain a licence under the new regulatory framework. From July 1, 2026, service provision based on registration under Law 140/2018 is no longer permitted. Unlicensed service providers must cease crypto-asset activities, halt all marketing, cease accepting new customers, and take necessary steps to wind down operations in an orderly manner. Four entities—IsMynt ehf., Orange Gateway ehf., Rafmyntasjóður Íslands ehf., and Monerium hf.—were operating without CASP licences as of July 1, 2026. Monerium hf. continues operating as an e-money institution and electronic money token issuer under MiCA. Unlicensed providers must inform customers without delay about their status and available options, including procedures for transferring crypto-assets, closing positions, withdrawing funds, or transferring business to a licensed provider. Customers are encouraged to verify their provider's licence status via the Central Bank's website or the European Securities and Markets Authority (ESMA) public register. The Central Bank will monitor compliance and take enforcement action if unlicensed crypto-asset services continue beyond the transition period. REFERENCES: Seðlabanki Íslands (Central Bank of Iceland). "Óheimilt er að veita þjónustu með sýndareignir án starfsleyfis frá og með 1. júlí 2026" [It is prohibited to provide crypto-asset services without a licence from July 1, 2026]. Available at: https://www.cb.is/

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Central Bank of Iceland Enforces Licensing Requirement for Crypto-Asset Service Providers

On July 1, 2026, the Central Bank of Iceland issued a press release announcing the enforcement of licensing requirements for all entities providing crypto-asset services in Iceland. Only entities holding a licence as a Crypto-Asset Service Provider (CASP) under Law 101/2025 on Markets for Crypto-Assets may provide such services from this date forward. Law 101/2025, which entered into force on January 1, 2026, implemented Regulation (EU) 2023/1114 (Markets in Crypto-Assets – MiCA). Under Article 143 of MiCA, service providers previously registered under Law 140/2018 on Anti-Money Laundering and Counter-Terrorism Financing received a transition period until July 1, 2026 to obtain a licence under the new regulatory framework. Unlicensed service providers must cease crypto-asset activities, halt all marketing, cease accepting new customers, and take necessary steps to wind down operations in an orderly manner.
3287833 pc Jul 02, 2026 adavies European Union Media - EU Anti-Money Laundering Authority horizon scanning
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European Union Anti-Money Laundering Authority and European Data Protection Board Develop Joint Guidelines on Information Sharing Partnerships

On July 1, 2026, the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) and the European Data Protection Board (EDPB) announced they will develop joint guidelines to clarify how financial institutions and authorities can share information to combat financial crime while protecting personal data. Article 75 of the Anti-Money Laundering Regulation enables companies and professionals subject to anti-money laundering rules to share information with each other and public authorities to detect and prevent money laundering and terrorist financing. This information sharing capability becomes effective on July 10, 2027. The joint guidelines will provide practical clarity on establishing partnerships that balance effective information sharing with robust data protection safeguards. The guidelines will address how companies, supervisors, financial intelligence units (FIUs), and data protection authorities can set up successful information-sharing arrangements while complying with data protection requirements. A joint drafting team comprising members from both AMLA and the EDPB will lead the development process. AMLA and the EDPB will gather stakeholder input through an event scheduled for later in 2026 to collect early perspectives on elements requiring clarification. Following this consultation phase, the authorities plan to launch a public consultation on draft guidelines in the first half of 2027. Additional details regarding the scope and content of the guidelines will be shared as the work progresses.

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Europe's Anti-Money Laundering Authority and European Data Protection Board Develop Joint Guidelines on Information Sharing Partnerships

On July 1, 2026, Europe’s Anti-Money Laundering Authority (AMLA) and the European Data Protection Board (EDPB) announced they will develop joint guidelines to clarify how financial institutions and authorities can share information to combat financial crime while protecting personal data. Article 75 of Regulation (EU) 2024/1624 (Anti-Money Laundering Regulation – AMLR) enables companies and professionals subject to anti-money laundering rules to share information with each other and public authorities to detect and prevent money laundering and terrorist financing. This information sharing capability becomes effective on July 10, 2027. The joint guidelines will provide practical clarity on establishing partnerships that balance effective information sharing with robust data protection safeguards. The guidelines will address how companies, supervisors, financial intelligence units (FIUs), and data protection authorities can set up successful information-sharing arrangements while complying with data protection requirements. AMLA and the EDPB will gather stakeholder input through an event scheduled for later in 2026 to collect early perspectives on elements requiring clarification. Following this consultation phase, the authorities plan to launch a public consultation on draft guidelines in the first half of 2027.
3288316 pc Jul 02, 2026 adavies Iceland All regulations, laws, and circulars financial services
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Iceland's Central Bank Submits Documentation for Digital Operational Resilience Act Risk Management Framework Review

On July 1, 2026, the Central Bank of Iceland (Seðlabanki Íslands) submitted documentation regarding a review of its information and communications technology (ICT) risk management framework under the Digital Operational Resilience Act (DORA). The submission represents Iceland's compliance with DORA requirements, which establish harmonised standards for managing ICT-related operational risks across the financial sector. DORA requires financial institutions and competent authorities to implement robust governance structures, incident reporting protocols, and testing frameworks to ensure digital operational resilience. The Central Bank of Iceland's submission of documentation for this review demonstrates its commitment to aligning its ICT risk management practices with European Union regulatory standards applicable to Icelandic financial services. The framework review covers the Central Bank of Iceland's policies, procedures, and controls governing information security, business continuity, incident management, and third-party ICT service provider oversight. This assessment ensures the institution maintains adequate safeguards against cyber threats, system failures, and other digital operational risks that could compromise financial stability or market integrity. The documentation submission marks a key milestone in Iceland's implementation of DORA requirements. Financial institutions operating in Iceland should monitor guidance from the Central Bank of Iceland regarding compliance expectations and any subsequent regulatory updates or clarifications on ICT risk management standards. The Central Bank of Iceland may issue further circulars or guidance documents detailing specific compliance obligations for regulated entities. REFERENCES: Central Bank of Iceland. "Skil á gögnum vegna úttektar á áhættustýringarramma fyrir upplýsinga- og fjarskiptatækni samkvæmt DORA." July 1, 2026. https://www.cb.is/

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Central Bank of Iceland Publishes Circular on the Submission of DORA Data

On July 1, 2026, the Central Bank of Iceland (CBI) published circular 23/2026 on the submission of data for the assessment of the information and communication technology risk management framework under Regulation (EU) 2022/2554 (Digital Operational Resilience Act – DORA) DORA requires financial institutions and competent authorities to implement robust governance structures, incident reporting protocols, and testing frameworks to ensure digital operational resilience. The circular outlines the CBI’s request for information from financial entities to allow it to assess compliance with the requirements. The CBI has further outlined that banks, lending institutions, payment institutions, e-money incisions and virtual asset service providers are required to submit data annually, with the first submission falling on February 28, 2027. Other entities are required to submit data every three years, with the first submission being on February 28, 2029.
3281776 pc Jul 02, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Finalised Guidance on Consumer Duty Application to Cryptoasset Firms

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised guidance (FG26/5) explaining how cryptoasset firms should apply the Consumer Duty to their operations. The Consumer Duty requires firms to act to deliver good outcomes for all customers, including those in vulnerable circumstances. The guidance addresses the unique characteristics of cryptoasset markets, including distribution structures involving overseas product manufacturers, unfamiliar terminology for retail customers, and the high volatility and complexity of cryptoasset products. The FCA issued this guidance under section 139A of the Financial Services and Markets Act 2000 (FSMA) to supplement the Final non-Handbook Guidance for firms on the Consumer Duty (FG22/5). The guidance establishes three cross-cutting rules: firms must act in good faith towards retail customers; avoid causing foreseeable harm; and enable and support customers to pursue their financial objectives. It then details four outcomes: products and services must be designed for defined target markets; price and value must be fair; consumer understanding must be supported through clear communications; and consumer support must be accessible and responsive. The FCA clarifies that different firm types—manufacturers, distributors, and UK Qualifying Cryptoasset Trading Platform operators—have distinct responsibilities. Distributors must take reasonable steps to understand products and risks even where manufacturers are unregulated or unknown. Transactions on UK QCATPs are exempt from the Duty, though other operator interactions with retail customers remain subject to it. The guidance emphasises that while firms need not prevent all harm, they must address reasonably foreseeable risks and avoid exploiting customer vulnerabilities or lack of understanding. The guidance includes illustrative examples of good and poor practices across all four outcomes to assist firms in compliance.

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UK's Financial Conduct Authority Publishes Finalised Guidance on Consumer Duty Application to Cryptoasset Firms

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised guidance (FG26/5) explaining how cryptoasset firms should apply the Consumer Duty to their operations. The Consumer Duty requires firms to act to deliver good outcomes for all customers, including those in vulnerable circumstances. The guidance addresses the unique characteristics of cryptoasset markets, including distribution structures involving overseas product manufacturers, unfamiliar terminology for retail customers, and the high volatility and complexity of cryptoasset products. The FCA issued this guidance under section 139A of the Financial Services and Markets Act 2000 (FSMA) to supplement the Final non-Handbook Guidance for firms on the Consumer Duty (FG22/5). The guidance establishes three cross-cutting rules: Firms must act in good faith towards retail customers. Avoid causing foreseeable harm. Enable and support customers to pursue their financial objectives. It then details four outcomes: products and services must be designed for defined target markets; price and value must be fair; consumer understanding must be supported through clear communications; and consumer support must be accessible and responsive. The FCA clarifies that different firm types—manufacturers, distributors, and UK Qualifying Cryptoasset Trading Platform operators—have distinct responsibilities. Distributors must take reasonable steps to understand products and risks even where manufacturers are unregulated or unknown. Transactions on UK QCATPs are exempt from the Duty, though other operator interactions with retail customers remain subject to it. The guidance emphasises that while firms need not prevent all harm, they must address reasonably foreseeable risks and avoid exploiting customer vulnerabilities or lack of understanding. The guidance includes illustrative examples of good and poor practices across all four outcomes to assist firms in compliance.
3281773 pc Jul 02, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Finalised Guidance on Cryptoasset Operational Resilience

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised guidance on operational resilience requirements for cryptoasset firms under its new regulatory regime. The guidance, titled FG26/6, applies the FCA's existing operational resilience framework to cryptoasset businesses, incorporating requirements under SYSC 4 (General Risk Management Requirements), SYSC 7 (Risk Control), SYSC 8 (Outsourcing), and SYSC 15A (Operational Resilience Requirements). The guidance addresses cryptoasset-specific operational and technological risks that present distinct challenges compared to traditional financial services. Key risks identified include vulnerabilities in smart contract code, private key security threats, validator misconduct, service disruptions affecting distributed ledger technology (DLT) infrastructure, and cyber threats. The FCA emphasises that firms must maintain robust cyber and technology controls, implement secure processes for safeguarding cryptographic keys and supporting infrastructure, and establish continuity and disruption planning tailored to cryptoasset activities. The guidance provides five illustrative example firms—a qualifying stablecoin issuer, cryptoasset trading platform, staking service provider, custody provider, and intermediary arranging deals—demonstrating how operational resilience requirements apply across different business models. For each firm type, the FCA illustrates how to identify important business services, set impact tolerances, map dependencies, and conduct scenario testing. The FCA clarifies that permissionless DLT usage should not be treated as outsourcing under SYSC 8, though firms remain fully responsible for maintaining operational resilience when relying on such infrastructure. Firms must notify the FCA when outsourcing critical or important functions, including custody infrastructure, validator services, and cloud hosting. The guidance also addresses effective communication strategies for managing disruptions, including those beyond the firm's control such as blockchain forks or cyberattacks.

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UK's Financial Conduct Authority Publishes Finalised Guidance on Cryptoasset Operational Resilience

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised guidance (FG26/6) on operational resilience requirements for cryptoasset firms under its new regulatory regime. Under the new cryptoasset regime, the FCA is applying existing operational resilience framework from the Senior Management Arrangements, Systems and Controls Sourcebook (SYSC) to cryptoasset firms. This includes the following requirements and standards: SYSC 4 (General Risk Management Requirements) SYSC 7 (Risk Control) SYSC 8 (Outsourcing) SYSC 15A (Operational Resilience Requirements) In this guidance, the FCA focuses on: Focuses on cryptoasset-specific operational and technological risks that, due to the unique characteristics of cryptoassets, may happen more often in the cryptoasset sector than in traditional financial services, presenting distinct challenges for firms. Uses examples of cryptoasset business models to demonstrate how operational resilience requirements can apply in practice within regulated cryptoasset activities, giving firms examples of how they can build resilience. The FCA is also planning a forthcoming non-Handbook guidance on operational resilience for distributed ledger technology (DLT) use, which is aimed at supporting firms in managing DLT-specific operational and technological risks, using example firms to demonstrate how operational resilience requirements can apply in practice in permissionless and permissioned DLT use cases.
3281772 pc Jul 02, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Approach to International Cryptoasset Firms Guidance

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised non-Handbook guidance setting out its general approach to assessing international cryptoasset firms seeking authorisation in the United Kingdom for regulated cryptoasset activities. The guidance, titled "Approach to International Cryptoasset Firms" (ACIF FG26/7), provides clarity on how the FCA will evaluate whether such firms meet minimum threshold conditions both at the point of application and on an ongoing basis. The FCA's baseline expectation is that firms requiring authorisation must carry out their regulated cryptoasset activities from a UK legal entity. However, the guidance identifies specific exceptions where overseas cryptoasset firms may operate through a UK branch, provided their home regulator maintains comparable levels of regulatory protection and requirements. The FCA identified particular concerns regarding effective supervision, appropriate resources, and client asset protection, noting that international insolvency regimes may not provide equivalent protections to UK Client Assets Sourcebook (CASS) rules and UK insolvency law. The guidance applies to firms conducting activities including issuing qualifying stablecoins, safeguarding cryptoassets, operating qualifying cryptoasset trading platforms (QCATPs), and dealing in cryptoassets. The FCA outlined three exceptions to the UK legal entity requirement: QCATP operators may use UK branches to access global liquidity and improve execution outcomes for UK customers; branch-authorised QCATP operators may obtain restricted principal dealer permissions for matched principal trading on their platforms; and such operators may hold restricted safeguarding permissions for settlement wallet operations. All applications remain subject to case-by-case assessment. The FCA intends to review this guidance periodically as cryptoasset regulatory frameworks and supervisory cooperation arrangements evolve.

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UK's Financial Conduct Authority Publishes Finalised Guidance on Approach to International Cryptoasset Firms

On June 30, 2026, the Financial Conduct Authority (FCA) published finalised non-Handbook guidance (FG26/7)  setting out its general approach to assessing international cryptoasset firms seeking authorisation in the United Kingdom for regulated cryptoasset activities. This non-Handbook guidance sets out the FCA's approach to international cryptoasset firms providing, or seeking to provide, cryptoasset services that require authorisation in the UK. It aims to provide clarity on how the FCA will assess international cryptoasset firms against minimum standards both when they apply for authorisation and on an ongoing basis. The FCA's baseline expectation is for firms requiring FCA authorisation to carry out their regulated cryptoasset activities from a UK legal entity. This is subject to some specific exceptions where the FCA see a case for overseas cryptoasset firms serving UK customers through a UK branch to be authorised as a qualifying cryptoasset trading platform (QCATP) operator. In such cases the FCA expects the home regulator to have comparable levels of regulatory protection and regulatory requirements in place, as determined by the FCA. The FCA intends to review this guidance periodically as cryptoasset regulatory frameworks and supervisory cooperation arrangements evolve.
3283863 pc Jul 01, 2026 alapetina Georgia (US) Georgia Department of Banking and Finance financial services
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Georgia Department of Banking and Finance Authorizes Financial Institution Transaction Holds for Elder and Disabled Adult Protection

On July 1, 2026, Georgia's financial institution transaction hold authority becomes effective under O.C.G.A. §§ 7-1-239.12 through 7-1-239.19. The Georgia Department of Banking and Finance established this framework to combat financial exploitation of disabled and elderly adults by authorizing financial institutions to place holds on transactions where reasonable cause exists to suspect financial abuse. Under the law, financial institutions may place a hold on a transaction if they have reasonable cause to suspect it may involve, facilitate, result in, or contribute to financial exploitation of an eligible adult—defined as any disabled adult (aged 18 or older with mental or physical incapacity, Alzheimer's disease, or dementia) or any elderly adult (aged 65 or older). Holds may also be placed on accounts where an eligible adult is a beneficiary or on accounts of suspected perpetrators. The Department of Human Services or law enforcement agencies may also request holds by providing information demonstrating reasonable cause. Financial institutions must notify all authorized account parties and designated "trusted contacts" within three business days of placing a hold, unless they reasonably believe these individuals participated in the suspected exploitation. Institutions must initiate an investigation and may maintain the hold for up to 15 business days, extendable an additional 15 days if investigation results remain inconclusive but still suggest exploitation. Holds may be released earlier if investigation findings do not support financial exploitation concerns. Financial institutions must develop training policies, conduct annual employee training, and maintain written procedures addressing suspected financial exploitation. The law provides immunity from administrative, criminal, and civil liability for institutions acting in good faith with reasonable care, extending protection to officers, directors, and employees. Institutions should maintain detailed records documenting account holder information, hold placement dates, facts supporting suspicion, and resolution outcomes.

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Georgia Department of Banking and Finance Issues Training Manual for Financial Institution Transaction Holds

The Georgia Department of Banking and Finance (DBF) has issued an On-the-Job Training Manual to assist financial institutions in implementing the employee training requirements under Georgia's new financial exploitation transaction hold law, which takes effect on July 1, 2026. The manual is intended to provide practical guidance to institutions as they develop and deliver training required under House Bill 945 . The new law authorizes financial institutions to place temporary holds on transactions when there is reasonable cause to suspect they involve the financial exploitation of a disabled or elderly adult. In addition to establishing procedures for placing and investigating transaction holds, the law requires financial institutions to adopt written policies and procedures addressing suspected financial exploitation and provide annual training to relevant employees. "Financial institution" is defined under the law to include both banks and corporations licensed to engage in the business of money transmission in the state of Georgia. The DBF's training manual supports these new obligations by providing a framework that institutions can use when training employees to recognize potential financial exploitation, respond appropriately to suspected abuse, and comply with the law's reporting, investigation, and recordkeeping requirements. Financial institutions subject to the law should review the training manual and ensure their policies, procedures, and employee training programs are updated.
3287792 pc Jul 01, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Sanctions Brazilian Criminal Network for Money Laundering Through U.S. Financial System

On July 1, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated two Brazilian nationals, three Brazilian companies, and one Portuguese company for their links to Primeiro Comando da Capital (PCC), Latin America's largest criminal gang. The action targets a money laundering network operated from Florida and São Paulo, Brazil, that has laundered more than $30 million in illicit drug proceeds generated across multiple U.S. cities. The designated individuals include Victor Henrique de Oliveira Shimada, a key link between Florida-based PCC operatives and foreign drug traffickers, and Stella Stefanie Nunes Henrique de Oliveira, Shimada's associate who facilitated bulk cash pickups. The designated companies—Victory Trading Intermediacão De Negocios Cobrancas E Tecnologia Ltda, Pixwave Solucoes De Pagamentos Ltda, Wave Construcoes Inteligentes Ltda, and Avenidas Flutuantes Unipessoal Lda—operate as financial services, construction, and transportation entities controlled by Shimada. The network utilised cryptocurrency to move funds to Brazil and engaged in trade-based money laundering through Chinese electronics distribution networks, moving over $190 million in seven months. Gene Lange, performing the duties of Under Secretary for Terrorism and Financial Intelligence, said the action addresses PCC's "increasing presence of illicit revenue generation within our borders." The designations were made pursuant to Executive Order 14059, targeting illicit drug proliferation, and Executive Order 13224, targeting terrorists and their supporters. This marks OFAC's third action against PCC since December 2021. All property and interests in property of the designated persons within the United States or controlled by U.S. persons are blocked. U.S. persons are prohibited from conducting transactions involving designated parties unless authorised by OFAC licence. Violations may result in civil or criminal penalties. Foreign financial institutions conducting significant transactions on behalf of designated persons risk secondary sanctions, including restrictions on correspondent and payable-through accounts in the United States.

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US Office of Foreign Assets Control Sanctions Brazilian Criminal Network

On July 1, 2026, the US Office of Foreign Assets Control (OFAC) announced sanctions against two Brazilian nationals, three Brazilian companies and one Portuguese company. These targets are linked to Primeiro Comando da Capital (PCC), a designated transnational criminal organization (TCO) based in Brazil. According to OFAC , PCC is heavily involved in drug trafficking, bulk cash smuggling and other illicit activities, with the sanctioned individuals and entities playing a crucial role in laundering illicit drug proceeds generated in the US back to Brazil, often utilizing cryptocurrency and extensive corporate networks to evade detection. As a result of the new sanctions, all US-based property and interests of the targeted individuals and entities are blocked, and US individuals and entities are generally prohibited from engaging in transactions with them, unless expressly authorized by OFAC.
3285563 pc Jul 01, 2026 kgurnani New Zealand Financial Markets Authority financial services
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New Zealand Financial Markets Authority Assumes Consumer Credit Regulation From Commerce Commission

On July 1, 2026, the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko assumed regulatory responsibility for the consumer credit sector from the Commerce Commission, becoming New Zealand's single conduct regulator for financial markets. The transfer, enabled by the Credit Contracts and Consumer Finance Amendment Act 2026, consolidates financial market conduct oversight under one authority. The FMA will centralise regulation of consumer credit alongside its existing financial services responsibilities, delivering clearer rules, enhanced regulatory tools, and more streamlined oversight for lenders and consumers. Clare Bolingford, FMA Executive Director Licensing and Conduct Supervision, said the alignment of credit regulation with broader financial services creates a framework that better supports responsible lending and consumer protection. The FMA identified consumer credit as playing an important role in helping New Zealanders manage finances and access funds for major purchases and everyday living costs. The FMA will build on expectations established by the Commerce Commission while focusing on three priority areas: lending practices, particularly suitability and affordability assessments; remuneration structures and how conflicts of interest are managed; and complaints handling processes. The authority aims to protect New Zealanders and ensure fair treatment across financial services, concentrating efforts on areas where it identifies the greatest potential for consumer harm. The consolidation represents a significant shift in New Zealand's financial services regulatory architecture, unifying conduct oversight across credit and broader financial markets under a single regulator.

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New Zealand Financial Markets Authority Assumes Consumer Credit Regulation From Commerce Commission

On July 1, 2026, the Financial Markets Authority (FMA) assumed regulatory responsibility for the consumer credit sector from the Commerce Commission, becoming New Zealand's single conduct regulator for financial markets. The transfer, enabled by the Credit Contracts and Consumer Finance Amendment Act 2026 , consolidates financial market conduct oversight under one authority. The FMA will centralise regulation of consumer credit alongside its existing financial services responsibilities, delivering clearer rules, enhanced regulatory tools, and more streamlined oversight for lenders and consumers. The FMA identified consumer credit as playing an important role in helping New Zealanders manage finances and access funds for major purchases and everyday living costs. The FMA will build on expectations established by the Commerce Commission while focusing on three priority areas: lending practices, particularly suitability and affordability assessments; remuneration structures and how conflicts of interest are managed; and complaints handling processes. The authority aims to protect New Zealanders and ensure fair treatment across financial services, concentrating efforts on areas where it identifies the greatest potential for consumer harm. The consolidation represents a significant shift in New Zealand's financial services regulatory architecture, unifying conduct oversight across credit and broader financial markets under a single regulator.
3282286 pc Jul 01, 2026 pthandapani India Reserve Bank of India financial services
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India's Reserve Bank Amends Foreign Exchange Management Deposit Regulations for International Financial Services Centre Accounts

On June 18, 2026, the Reserve Bank of India (RBI) published the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026, amending the principal Foreign Exchange Management (Deposit) Regulations, 2016. The amendment introduces regulatory changes governing Special Non-Resident Rupee Accounts (SNRR accounts) and expands their availability to International Financial Services Centres (IFSC) in India. The key amendments broaden the scope of SNRR accounts by permitting non-residents to open, hold, and maintain these accounts not only with authorised dealers in India or their branches outside India, but also within an IFSC in India. The regulations clarify that IFSC has the same meaning as defined in the International Financial Services Centres Authority Act, 2019. The amendment modifies the permitted transactions for SNRR accounts, allowing transfers from Non-Resident Ordinary (NRO) accounts within specified limits under the Foreign Exchange Management (Remittance of Assets) Regulations, 2016, and transfers to Non-Resident External (NRE) or SNRR accounts under the same limits. The regulations streamline Schedule 4 by deleting several existing paragraphs and substituting others to clarify that SNRR accounts may be used for permissible current and capital account transactions with persons resident in India, as well as bona fide transactions with persons resident outside India. Additionally, the amendment introduces provisions for transactions between non-residents involving SNRR accounts, allowing authorised dealer banks to effect transfers based on account holder instructions indicating the underlying transaction purpose. The regulations come into force upon publication in the Official Gazette of the Government of India. These amendments align with India's efforts to enhance the regulatory framework governing foreign exchange management and facilitate international financial services operations within designated centres. REFERENCE: Reserve Bank of India Notification No. FEMA 5(R)(6)/2026-RB, June 18, 2026

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Reserve Bank India Amends Foreign Exchange Management Deposit Regulations for International Financial Services Centre Accounts

The Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026. The amended regulations contain: New definitions prescribing the meaning of 'International Financial Services Centre' or 'IFSC', assigning it the exact meaning as defined in clause (g) of section 3 of the International Financial Services Centres Authority Act, 2019. Regulations prescribing the operational scope of Special Non-Resident Rupee (SNRR) accounts, explicitly allowing a person resident outside India to open, hold, and maintain an SNRR account with an authorized dealer in India or its branch outside India, including within an IFSC. Specific rules mandating that SNRR accounts can be utilized for putting through permissible current and capital account transactions with a person resident in India, as well as for any bona fide transaction with a person resident outside India. Provisions outlining expanded transfer capabilities, permitting fund transfers from Non-Resident (Ordinary) (NRO) accounts to Non-Resident (External) (NRE) or SNRR accounts, provided they remain within the limits specified in Regulation 4 of the Foreign Exchange Management (Remittance of Assets) Regulations, 2016. Administrative measures detailing that transactions between persons resident outside India involving SNRR accounts, which may not be subject to compliance under the Act, must be effected by the authorized dealer (AD) bank based on instructions or a mandate from the account holder indicating the underlying purpose of the transfer. Directives streamlining Schedule 4 of the principal regulations by officially deleting existing paragraphs 2, 5, 6, 7, and 8. The amendments take immediate effect.
3283164 pc Jul 01, 2026 pthandapani India Reserve Bank of India horizon scanning
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India's Reserve Bank Updates Voluntary Surrender Process for Non-Banking Financial Companies

On June 30, 2026, the Reserve Bank of India (RBI) updated its application form and indicative checklist for non-banking financial companies (NBFCs), including housing finance companies (HFCs), seeking voluntary surrender of their Certificate of Registration (CoR) for cancellation. The RBI initially announced the availability of the voluntary surrender application form and checklist on September 23, 2025, through the PRAVAAH portal. Following the issuance of the Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026, dated April 29, 2026, regarding Unregistered Type I NBFCs, the RBI revised both documents to reflect regulatory changes. Applicant NBFCs and HFCs must now submit the updated application form along with all requisite documents as specified in the revised checklist through the PRAVAAH portal. The RBI emphasised that submission of an application with supporting documents does not constitute automatic cancellation of an NBFC's or HFC's CoR. Until the RBI formally communicates cancellation of the CoR to the entity, NBFCs and HFCs must continue to comply with all applicable RBI guidelines and instructions, as well as those issued by the National Housing Bank (NHB) and other competent authorities. These entities must also continue submitting all requisite regulatory and supervisory returns as applicable during the pendency of their voluntary surrender application. The updated application form and checklist are available on the PRAVAAH portal for NBFCs and HFCs intending to voluntarily surrender their registration.

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Reserve Bank of India Updates Voluntary Surrender Process for Non-Banking Financial Companies

The Reserve Bank of India (RBI) has issued a press release regarding the voluntary surrender of the Certificate of Registration (CoR) by Non-Banking Financial Companies (NBFCs), including Housing Finance Companies (HFCs). The issued press release contains: Administrative measures detailing the revision of the application form and indicative checklist for the voluntary surrender of CoRs on the PRAVAAH portal, following the April 29, 2026, amendment directions regarding Unregistered Type I NBFCs. Provisions outlining the submission process, stipulating that applicant NBFCs and HFCs must submit the completely filled-in application form alongside all requisite documents through the PRAVAAH portal. Specific clarifications that the mere submission of an application and supporting documents must not be construed as an official cancellation of the entity's CoR. Regulations prescribing ongoing compliance, requiring entities to continue adhering to all applicable guidelines issued by the RBI, the National Housing Bank (NHB), and other competent authorities, as well as submitting requisite regulatory and supervisory returns, until the CoR is officially cancelled and the decision is communicated by the RBI.
3285659 pc Jul 01, 2026 csoo Italy Bank of Italy horizon scanning
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Italy's Bank of Italy and Securities and Exchange Commission Announce Nine Authorised Crypto-Asset Service Providers

On June 30, 2026, the Bank of Italy (Banca d'Italia) and the Italian Securities and Exchange Commission (Consob) announced the conclusion of the transitional period under the European Union's Markets in Crypto-Assets Regulation (MiCAR). From July 1, 2026, Virtual Asset Service Providers (VASPs) operating under national regimes must cease operations unless they have obtained authorisation as Crypto-Asset Service Providers (CASPs) under MiCAR or are already-regulated intermediaries that have notified their intention to provide crypto-asset services. In Italy, Consob has authorised eight CASPs in coordination with the Bank of Italy: CheckSig S.r.l., Conio S.r.l., CryptoSmart S.p.A., Hercle S.r.l., Hodlie S.r.l., Olliv S.r.l., Riv Digital S.r.l., and Young Platform S.p.A. Additionally, Banca Sella S.p.A., a banking intermediary, has notified the Bank of Italy of its intention to provide crypto-asset services, bringing the total to nine authorised entities. These operators are registered in the Crypto-Asset Service Provider Register maintained by the European Securities and Markets Authority (ESMA) and can offer services across all European Union member states under the European passport regime. Unauthorised operators must cease activities by July 1, 2026, and may only perform functions necessary to close existing client relationships, transfer assets, or liquidate positions while complying with anti-money laundering and counter-terrorism financing obligations. The Bank of Italy and Consob advise investors to verify their service providers' authorisation status by consulting the ESMA register and to confirm which legal entity provides services, as MiCAR protections apply only to authorised EU providers. Investors whose providers lack authorisation should transfer crypto-assets to authorised entities or self-hosted wallets, or close existing positions. The Bank of Italy and Consob will continue supervisory activities in coordination with ESMA to ensure uniform MiCAR implementation and adequate investor protection.

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Bank of Italy and Consob Announce End of MiCA Transitional Period and Publish List of Authorised Entities in Italy

On June 30, 2026, the Bank of Italy (Banca d'Italia) and the Italian Securities and Exchange Commission (Consob) announced the conclusion of the transitional period under the European Union's Markets in Crypto-Assets Regulation (MiCAR). From July 1, 2026, Virtual Asset Service Providers (VASPs) operating under national regimes must cease operations unless they have obtained authorisation as Crypto-Asset Service Providers (CASPs) under MiCAR or are already-regulated intermediaries that have notified their intention to provide crypto-asset services. In Italy, Consob, in close coordination with the Bank of Italy, has to date authorised 8 CASPs, listed below: CheckSig S.r.l. Conio S.r.l. CryptoSmart S.p.A. Hercle S.r.l. Hodlie S.r.l. Olliv Ltd Riv Digital Ltd Young Platform S.p.A. In addition, a banking intermediary, Banca Sella S.p.A., has notified the Bank of Italy of its intention to provide services relating to crypto-assets.
3283655 pc Jul 01, 2026 pthandapani Taiwan Financial Supervisory Commission (FSC) - Securities Bureau - Press releases financial services
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Taiwan's Legislative Yuan Passes Virtual Asset Services Law

On June 30, 2026, Taiwan's Legislative Yuan passed the Virtual Asset Services Law (VASL) on third reading. The Financial Supervisory Commission (FSC) expressed gratitude to legislators for their support and feedback, which it said strengthened the legislation. The law establishes comprehensive regulation of virtual asset service providers (VASPs), defining seven categories: exchange operators, trading platform operators, transfer operators, custodians, underwriters, lending operators, and other service providers. The legislation mandates VASPs comply with financial and operational requirements, including fitness and propriety standards for directors and staff, internal control and audit systems, cybersecurity management systems, virtual asset listing and delisting review mechanisms, segregated customer asset custody, outsourcing arrangements, and civil liability provisions to customers. VASPs must also file financial reports. The law explicitly regulates stablecoin issuance and management within Taiwan's jurisdiction. Stablecoin issuers must obtain approval from the Central Bank of the Republic of China (Taiwan) and the FSC, maintain full reserve assets, establish trust arrangements, and undergo periodic audits and information disclosure. The legislation strengthens market conduct rules, prohibiting fraudulent, deceptive, or price-manipulative behaviour. Violations carry penalties of three to ten years imprisonment and fines ranging from New Taiwan Dollar 10 million to 200 million. Existing VASPs and financial institutions already providing related services under FSC regulations must apply for FSC permits within twelve months of the law's implementation and obtain licences within twenty-one months. The FSC may extend this transition period by three months once if necessary. The FSC stated the law elevates VASP oversight from anti-money laundering focus to comprehensive operational and market conduct regulation, strengthening investor protections. The FSC will develop implementing regulations and engage stakeholders to complete the regulatory framework.

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Taiwan's Legislative Yuan Passes Virtual Asset Services Law

Taiwan's Legislative Yuan has passed the Virtual Asset Services Law. The enacted act contains: New definitions for key terms including the types and scope of Virtual Asset Service Providers (VASPs), classifying them into seven categories such as exchanges, trading platforms, transferors, custodians, underwriters, lenders, and others. Regulations prescribing the supervision of VASP operations, covering financial reporting, internal controls, IT security management, virtual asset listing and delisting review mechanisms, separation of customer assets, and civil liability to customers. Specific rules mandating that the issuance of stablecoins within Taiwan requires prior consent from the central bank and approval from the FSC. Provisions outlining strict requirements for stablecoin issuers, mandating them to maintain 100 percent reserve assets in trust and conduct regular audits and information disclosure. Administrative measures detailing penalties to prevent unjust market practices, stipulating that fraudulent behavior or price manipulation will be punishable by 3 to 10 years of imprisonment and fines ranging from NT$10,000,000 (US$312,500) to NT$200,000,000 (US$6,250,000). Directives requiring existing VASPs that have completed AML registration to apply for FSC permission within 12 months of the Act's implementation, and to obtain their licenses within 21 months, with a possible one-time extension of 3 months. The law will go into force on a future date that will be specified by the Executive Yuan.
3279152 pc Jul 01, 2026 pthandapani Thailand bank of Thailand Regulations financial services
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Thailand's Bank of Thailand Amends Commercial Bank Reserve Requirement Regulations

On June 8, 2025, the Bank of Thailand (BOT) issued Notification No. 28/2569 amending the commercial bank reserve requirement regulations. The amendment modifies the definition of "deposits" under the existing reserve requirement framework to exclude certain funds held by commercial banks. The BOT introduced this amendment to support two key credit relief initiatives announced by the Cabinet on February 3, 2025. The first is the SMEs Credit Boost programme, designed to help small and medium-sized enterprises (SMEs) access necessary credit during economic uncertainty driven by trade volatility, technological change, environmental concerns, and geopolitical shifts. The second initiative provides assistance to borrowers affected by severe flooding in Thailand's southern region, classified as level 4 disaster areas. These programmes are funded through reduced contributions by financial institutions to the Financial Institution Development Fund (FIDF). Under the amended regulations, commercial banks may deposit funds designated for these credit relief initiatives and other future ad-hoc financial measures into current accounts at the BOT without these deposits counting toward reserve requirement calculations. The revised definition of "deposits" now excludes: advance deposits held under payment system laws; funds received by banks acting as agents for borrower assistance programmes; and funds deposited specifically for borrower assistance or implementation of financial programmes or measures. This exclusion ensures that the management of credit relief funding does not compromise the BOT's liquidity management objectives or monetary policy implementation, as reserve requirements remain a critical tool for system liquidity management. The notification takes effect from the day following its publication in the Royal Gazette.

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Bank of Thailand Amends Commercial Bank Reserve Requirement Regulations

The Bank of Thailand (BOT) has issued the Bank of Thailand Notification No. 28/2569 regarding the Prescription on Maintenance of Deposits at the Bank of Thailand by Commercial Banks (Reserve Requirement) (No. 4). The amended notification contains: New definitions for key terms including "Deposit", redefining it as the current account deposits of commercial banks at the BOT, and explicitly excluding advance payments held for safekeeping under the payment systems law, funds received for acting as an agent bank for debtor assistance programs, or funds deposited specifically for carrying out financial projects and measures. Regulations prescribing the calculation of reserve requirements, stipulating that funds allocated for targeted assistance, such as the SMEs Credit Boost and the Level 4 severe southern flood relief measures, shall not be counted as deposits. Provisions outlining the source of funding for these assistance measures, identifying that the funds stem from reduced Financial Institutions Development Fund (FIDF) fee contributions that financial institutions deposit in their BOT current accounts. Specific rules mandating the exclusion of these specific funds from reserve requirement calculations, ensuring that the administration of these relief measures does not interfere with the BOT's monetary policy implementation and system liquidity management. Administrative measures detailing the repeal and replacement of the definition of "Deposit" in Clause 4.1 of the previous Bank of Thailand Notification No.56/2558 dated September 21, 2015, and its subsequent amendments. The amendments take immediate effect.
3279150 pc Jul 01, 2026 pthandapani Thailand bank of Thailand Regulations financial services
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Thailand's Bank of Thailand Amends Reserve Requirement Rules for Finance and Credit Foncier Companies

On June 8, 2026, the Bank of Thailand (BOT) issued Notification No. 27/2569 amending reserve requirement regulations for finance companies and credit foncier companies. The amendment modifies the definition of "deposits" under the existing reserve requirement framework to exclude certain funds held by these institutions. The BOT introduced the amendment to support two government-backed financial assistance initiatives. The first is the Small and Medium-sized Enterprise (SME) Credit Boost programme, designed to provide targeted business operators with access to necessary credit amid economic uncertainty, trade volatility, and technological and geopolitical shifts. The second measure provides relief to borrowers affected by severe flooding in Thailand's southern region, classified as level-four disaster areas. The BOT and Ministry of Finance jointly implemented these measures, which the Cabinet approved on February 3, 2026. The funding for these initiatives derives from a reduction in the Financial Institution Development Fund (FIDF) fee contribution rate announced by the BOT. Finance and credit foncier companies deposit these funds in current accounts at the BOT. The amendment excludes from reserve requirement calculations: funds received by these institutions when acting as agent banks for borrower assistance programmes, and deposits designated specifically for implementing financial assistance or other government financial measures. This exclusion prevents the management of funds for these programmes from undermining the BOT's liquidity management objectives and monetary policy implementation. The amendment applies to all finance companies and credit foncier companies as defined under the BOT's existing reserve requirement notification dated March 23, 2017. The regulation takes effect from the day following its publication in the Royal Gazette.

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Bank of Thailand Amends Reserve Requirement Rules for Finance and Credit Foncier Companies

The Bank of Thailand (BOT) has issued the Bank of Thailand Notification No. 27/2569 regarding the Prescription on Maintenance of Deposits at the Bank of Thailand by Finance Companies and Credit Foncier Companies (Reserve Requirement) (No. 2). The amended notification contains: New definitions for key terms including "Deposit", redefining it as the current account deposits of finance companies and credit foncier companies at the BOT, and explicitly excluding funds received for acting as an agent bank for debtor assistance programs or funds deposited specifically for carrying out financial projects and measures. Regulations prescribing the calculation of reserve requirements, stipulating that funds allocated for targeted assistance, such as the SMEs Credit Boost and the Level 4 severe southern flood relief measures, shall not be counted as deposits. Provisions outlining the source of funding for these assistance measures, identifying that the funds stem from reduced Financial Institutions Development Fund (FIDF) fee contributions that financial institutions deposit in their BOT current accounts. Specific rules mandating the exclusion of these specific funds from reserve requirement calculations, ensuring that the administration of these relief measures does not interfere with the BOT's monetary policy implementation and system liquidity management. Administrative measures detailing the repeal and replacement of the definition of "Deposit" in Clause 4.1 of the previous Bank of Thailand Notification No. SorKorNgor. 28/2560 dated March 23, 2017. The amendments take immediate effect.
3286371 pc Jul 01, 2026 arahman Ukraine Regulatory Documents financial services
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Ukraine's National Bank Approves Changes to Risk Management System Regulations for Banks

On June 30, 2026, the National Bank of Ukraine (NBU) Board approved Resolution No. 70, which amends the Regulations on the Organisation of Risk Management Systems in Banks of Ukraine and Banking Groups, as well as other matters concerning the activities of banks in Ukraine. The resolution introduces changes to the existing risk management framework applicable to Ukrainian banks and banking groups. The amendments address the organisation and governance of risk management systems, establishing requirements for how financial institutions must structure their approach to identifying, measuring, monitoring, and controlling risks. The changes also cover specific operational matters affecting banking activities in Ukraine. These amendments are designed to strengthen the regulatory framework governing how banks manage various categories of risk, including credit risk, market risk, operational risk, and other material risks to which banking institutions are exposed. The regulation applies to all banks operating in Ukraine and banking groups subject to NBU supervision. The NBU previously initiated a consultation on draft requirements concerning third-party risk management in banks and banking groups, which informed the development of these amendments. The resolution becomes effective on July 1, 2026. Banks and banking groups are required to comply with the new requirements from this date forward. The full text of Resolution No. 70 is available on the NBU's official website in both PDF and DOCX formats. REFERENCES: National Bank of Ukraine. Resolution of the Board of the National Bank of Ukraine No. 70 of June 30, 2026 "On Approval of Amendments to the Regulations on the Organisation of Risk Management Systems in Banks of Ukraine and Banking Groups and on Certain Matters of the Activities of Banks of Ukraine and Banking Groups." Available at: [NBU Official Website]

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National Bank of Ukraine Adopts Changes to Risk Management System Regulations for Banks

On June 30, 2026, the National Bank of Ukraine (NBU) approved Resolution No. 70, which amends the Regulations on the Organisation of Risk Management Systems in Banks of Ukraine and Banking Groups, as well as other matters concerning the activities of banks in Ukraine. Ukrainian banks and responsible persons of banking groups must: Develop, finalise and implement internal bank risk management documents no later than June 30, 2027. Identify a list of critical legal entities or individuals that are business entities providing services directly to a bank or a member of a banking group (TPSP providers), in accordance with the criteria established in internal bank and intra-group documents for identifying critical services provided by TPSP-suppliers and the criteria for identifying critical functions supported by the services of TPSP-suppliers, no later than June 30, 2027. Banks that have service level agreements concluded with TPSP providers prior to the effective date of this resolution must, no later than December 31, 2026: Conduct an analysis of the bank’s compliance, in its relations with TPSP providers, with the requirements, restrictions, and prohibitions established by the laws of Ukraine. To notify the National Bank, in any form, of the decisions regarding TPSP providers adopted by the bank. This resolution shall enter into force on the day following the date of its official publication.
3286374 pc Jul 01, 2026 arahman Ukraine Regulatory Documents financial services
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Ukraine's National Bank Approves Amendments to Banking Regulation and Supervision Rules

On June 30, 2026, the National Bank of Ukraine (NBU) Board adopted Resolution No. 71, approving amendments to various regulatory acts governing the activities of banks and banking groups in Ukraine. The resolution represents a regulatory update to the NBU's normative framework for banking supervision and regulation. The amendments address multiple aspects of banking operations and group-level governance, though the specific substantive changes are not detailed in the available source material. The resolution was formally adopted by the NBU Board on June 30, 2026, and establishes the legal basis for implementation of these regulatory modifications across Ukraine's banking sector. Banks and banking groups operating in Ukraine are the primary entities affected by these amendments. The regulatory changes will apply to all institutions subject to NBU supervision and regulation. The resolution provides the formal authorization for the NBU to enforce the amended regulatory requirements across the sector. The resolution is available in multiple formats, including PDF and DOCX versions, through the NBU's official channels for public access and distribution to regulated entities.

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National Bank of Ukraine Adopts Amendments to Banking Regulation and Supervision Rules

On June 30, 2026, the National Bank of Ukraine (NBU) adopted Resolution No. 71, approving amendments to various regulatory acts governing the activities of banks and banking groups in Ukraine. A bank shall not include the following in the calculation of the aggregate amount of assets weighted by the credit risk: Assets or parts thereof that are included in deductions from the bank’s capital. Assets arising from transactions involving the purchase, sale, or exchange of securities, foreign currency, commodities, and the transfer/receipt of foreign currency cash in exchange for the same non-cash foreign currency, held in the trading or banking book, for which settlements are made on a non-delivery-versus-payment basis, and which are included in the calculation of the aggregate settlement risk. This resolution comes into effect on July 31, 2026, except for subparagraph 2 of paragraph 1, which shall enter into force on December 31, 2026.
3286373 pc Jul 01, 2026 arahman Ukraine Regulatory Documents financial services
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Ukraine's National Bank Amends Financial Payment Services Provider Authorization and Management System Rules

On June 30, 2026, the Board of the National Bank of Ukraine (NBU) adopted Resolution No. 72, which amends regulatory acts governing the authorization and management systems applicable to financial payment services providers in Ukraine. The resolution addresses requirements for authorization and governance frameworks for entities providing financial payment services. The amendments introduce changes to the NBU's existing regulatory framework to enhance oversight and operational standards for these service providers. The regulation focuses on strengthening management systems and authorization procedures, ensuring that financial payment services providers maintain adequate governance structures and risk management protocols. A key component of the amendments concerns third-party risk management requirements in the payment market. The NBU initiated consultation on these third-party risk management requirements, reflecting the regulator's commitment to comprehensive oversight of payment service ecosystems and the relationships between primary service providers and their third-party vendors or partners. The resolution becomes effective on July 1, 2026. Financial payment services providers operating in Ukraine must ensure compliance with the amended regulatory requirements by this date. Entities should review the full text of Resolution No. 72 to understand specific obligations related to authorization procedures, management system requirements, and third-party risk governance applicable to their operations. REFERENCES: National Bank of Ukraine. Resolution of the Board of the National Bank of Ukraine No. 72 of June 30, 2026 "On Amendments to Certain Regulatory Acts of the National Bank of Ukraine on Authorization and Management System of Financial Payment Services Providers." Available at: https://www.bank.gov.ua/

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National Bank of Ukraine Adopts Amendments to Financial Payment Services Provider Authorisation and Management System Rules

On June 30, 2026, the Board of the National Bank of Ukraine (NBU) adopted Resolution No. 72, amending regulatory acts governing the authorisation and risk management systems applicable to financial payment services providers in Ukraine. A financial payment service provider's risk report must contain the following information regarding third-party risk: The results of the assessment of third-party risk profiles, which must include a description of the third-party risks to which the financial payment service provider was exposed during the reporting period (including a breakdown by critical services and critical third-party providers), the method of risk management and qualitative and quantitative information based on the results of third-party risk measurement. The results of third-party risk stress testing, the methods and assumptions used for stress testing, and a risk sensitivity analysis, if such an analysis was conducted. Material changes in the payment service provider’s risk profile resulting from third-party risk. Breaches of established third-party risk limits. Issues requiring immediate response and escalation, including incidents, failures, or service interruptions at the third-party provider, and an increase in service concentration risk. Payment institutions and electronic money institutions must bring their activities into compliance with this resolution by March 31, 2027. This resolution comes into effect on the day following its official publication.
3283325 pc Jul 01, 2026 arahman Russia Bank of Russia financial services
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Bank of Russia Modifies Methodology for Ranking Banks by Consumer Credit Complaints

On June 30, 2026, the Bank of Russia updated its methodology for calculating rankings of credit institutions based on the number of complaints received regarding consumer lending. The new rankings for credit organisations covering 2025, published on the regulator's website, incorporate an expanded database of citizen complaints on credit matters. The revised methodology expands the complaints data to include substantiated grievances submitted not only to the Bank of Russia but also to the Financial Ombudsman (the financial upolnomochennyi). However, complaints to the Financial Ombudsman that are subject to ongoing court proceedings are excluded from the calculation. The Bank of Russia examines complaints alleging violations of federal legislation, while the Financial Ombudsman addresses property claims by citizens against credit organisations. This expansion enables consumers to form a more comprehensive understanding of banks' operations and their interactions with clients. Substantiated complaints are those where investigations reveal violations of consumer rights. A credit organisation's ranking position depends on the number of complaints per 100,000 contracts. Additionally, the Bank of Russia now categorises all ranking participants into two groups: large creditors with more than three million contracts, and all other institutions with fewer than three million contracts. This segmentation allows for meaningful comparisons between banks of comparable size. The same approach will be applied to microfinance and insurance organisations. Public rankings serve as a tool to enhance client-centricity among financial organisations. The Bank of Russia has positively assessed banks' efforts to modify their customer policies in response to this transparency measure.

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Central Bank of Russia Modifies Methodology for Ranking Banks by Consumer Credit Complaints

On June 30, 2026, the Central Bank of Russia (CBR) updated its methodology for calculating rankings of credit institutions based on the number of complaints received regarding consumer lending. The new rankings for banks covering 2025, published on the regulator's website, incorporate an expanded database of citizen complaints on credit matters. The revised methodology expands the complaints data to include substantiated grievances submitted not only to the CBR but also to the Financial Ombudsman. However, complaints to the Financial Ombudsman that are subject to ongoing court proceedings are excluded from the calculation. The Bank of Russia examines complaints alleging violations of federal legislation, while the Financial Ombudsman addresses property claims by citizens against banks. This expansion enables consumers to form a more comprehensive understanding of banks' operations and their interactions with clients. Substantiated complaints are those where investigations reveal violations of consumer rights. A bank's ranking position depends on the number of complaints per 100,000 contracts. Additionally, the CBR now categorises all ranking participants into two groups: large creditors with more than 3m contracts, and all other institutions with fewer than 3m contracts. This segmentation allows for meaningful comparisons between banks of comparable size. The same approach will be applied to lending providers. Public rankings serve as a tool to enhance client-centricity among financial organisations. The CBR has positively assessed banks' efforts to modify their customer policies in response to this transparency measure.
3285713 pc Jul 01, 2026 arahman Sweden Swedish Competition Authority horizon scanning
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Swedish Competition Authority Issues Guidance on Protecting Competition During Market Disruptions

On June 30, 2026, the Swedish Competition Authority (Konkurrensverket) published guidance recommending that companies and public actors maintain effective competition when managing market disruptions. The authority issued the recommendations to address risks to competition arising from supply shocks—sudden changes in the availability of goods or services—such as those caused by the COVID-19 pandemic, the war in Ukraine, and ongoing conflicts in the Middle East. The Swedish Competition Authority emphasised that competition remains critical before, during, and after market disruptions or crises. Functioning competition creates incentives for efficient resource use, productivity, and innovation, enabling markets to adapt to changed circumstances. Conversely, weak competition can prolong disruptions and slow recovery, while consumers face risks including unjustified price increases when firms face reduced competitive pressure. The guidance sets out recommendations to mitigate risks of competition restrictions. Companies must make business decisions independently during disruptions and avoid exchanging commercially sensitive information—such as future prices or pricing strategies—with competitors. Any collaborations must be necessary, proportionate, and time-limited. When public actors or organisations convene competing firms to address disruptions, it is critical to minimise risks that such collaborations or information exchanges undermine competition. Particular risks include firms sharing commercially sensitive data and participating firms gaining unfair advantages or disadvantages compared to excluded competitors. The Swedish Competition Authority recommends that competition considerations be integrated into measures addressing severe market disruptions. Given that disruptions and market conditions vary, the impact on competition must be analysed case-by-case. The authority offers its expertise to support such analysis.

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Swedish Competition Authority Issues Guidance on Protecting Competition During Market Disruptions

On June 30, 2026, the Swedish Competition Authority (Konkurrensverket) published guidance recommending that companies and public actors maintain effective competition when managing market disruptions. The authority issued the recommendations to address risks to competition arising from supply shocks, such as sudden changes in the availability of goods or services; for example, those caused by the COVID-19 pandemic, the war in Ukraine and ongoing conflicts in the Middle East. The Swedish Competition Authority emphasised that competition remains critical before, during and after market disruptions or crises. Functioning competition creates incentives for efficient resource use, productivity and innovation, enabling markets to adapt to changed circumstances. Conversely, weak competition can prolong disruptions and slow recovery, while consumers face risks, including unjustified price increases, when firms face reduced competitive pressure. The guidance sets out recommendations to mitigate risks of competition restrictions. Companies must make business decisions independently during disruptions and avoid exchanging commercially sensitive information, such as future prices or pricing strategies, with competitors. Any collaborations must be necessary, proportionate and time-limited. When organisations convene competing firms to address disruptions, it is critical to minimise risks that such collaborations or information exchanges undermine competition. Particular risks include firms sharing commercially sensitive data and participating firms gaining unfair advantages or disadvantages compared to excluded competitors. The Swedish Competition Authority recommends that competition considerations be integrated into measures addressing severe market disruptions. Given that disruptions and market conditions vary, the impact on competition must be analysed on a case-by-case basis. The authority offers its expertise to support such analysis.
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Turkey Publishes Amendments to Regulations on Advertising and Unfair Practices

On July 1, 2026, amendments to the Regulations on Commercial Advertising and Unfair Commercial Practices were published in the official gazette. Key amendments include: If artificial intelligence or other software is used in advertisements in a way that will significantly affect the economic behaviour of consumers regarding a good or service, or if digital characters that are indistinguishable from humans are used using artificial intelligence, this fact shall be stated in a clear, understandable and distinguishable way. In cases where advertisements are made through social media, influencers must be clear, understandable and distinguishable. In such cases, it should be clearly stated that the content is an advertisement. The content should be clearly indicated as an advertisement from the moment consumers first encounter it, without requiring them to scroll through the screen or redirect them to another area. These amendments come into force on August 1, 2026.
3285492 pc Jul 01, 2026 arahman Sweden News - Government horizon scanning
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Sweden's Government Publishes Report on Effective Interventions Against Cybercrime

On June 30, 2026, the Swedish Government published a partial report titled "Effective Interventions Against Crime in the Cyber Environment" (SOU 2026:45) from the Ministry of Justice's inquiry into secret and preventive coercive measures. The report concludes that increased digitalisation and technological development have created new opportunities for criminals, with nearly all crime now containing a digital component. Cybercrime represents a growing threat to both individuals and national security. The report identifies that law enforcement agencies lack effective tools to address contemporary cybercrime, necessitating a new strategy focused on preventing, disrupting, and interrupting crime and criminal activity in the cyber environment. The inquiry proposes a new law on police interventions in the cyber environment, granting the Swedish Police Authority (Polismyndigheten), the Security Police (Säkerhetspolisen), and the Swedish Customs Agency (Tullverket) authority to intervene against cybercrime during criminal investigations and intelligence operations. Interventions may be conducted where particularly important for preventing or interrupting crime, disrupting criminal activity, or mapping whether an information system is being used for criminal purposes. The agencies would gain rights to access information systems and modify or block data within them. In certain cases, agencies may also delete data, such as abuse material or malware, though deletion must be used restrictively when less intrusive measures prove insufficient and the intervention is of particular importance. The report proposes safeguards including clear requirements for crimes' connection to Sweden, proportionality, documentation, special oversight, and protection for particularly sensitive information systems and data. Interventions must concern crime of a certain severity level and remain limited to what is necessary for the purpose. The proposed law is set to enter into force on July 1, 2027, and will be time-limited, applying for five years.

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Sweden's Government Publishes Report on Effective Interventions Against Cybercrime

On June 30, 2026, the Swedish government published a partial report titled "Effective Interventions Against Crime in the Cyber Environment" from the Ministry of Justice's inquiry into secret and preventive coercive measures. The report concludes that increased digitalisation and technological development have created new opportunities for criminals, with nearly all crime now containing a digital component. Cybercrime represents a growing threat to both individuals and national security. The report identifies that law enforcement agencies lack effective tools to address contemporary cybercrime, necessitating a new strategy focused on preventing, disrupting and interrupting crime and criminal activity in the cyber environment. The inquiry proposes a new law on police interventions in the cyber environment, granting the Swedish Police Authority (Polismyndigheten), the Security Police (Säkerhetspolisen) and the Swedish Customs Agency (Tullverket) authority to intervene against cybercrime during criminal investigations and intelligence operations. Interventions may be conducted where particularly important for preventing or interrupting crime, disrupting criminal activity or mapping whether an information system is being used for criminal purposes. The agencies would gain rights to access information systems and modify or block data within them. In certain cases, agencies may also delete data, such as abuse material or malware, although deletion must be used restrictively when less intrusive measures prove insufficient and the intervention is of particular importance. The report proposes safeguards, including clear requirements for the connection of crimes to Sweden, proportionality, documentation, special oversight and protection for particularly sensitive information systems and data. Interventions must concern crime of a certain severity level and remain limited to what is necessary for the purpose. The proposed law is set to enter into force on July 1, 2027, and will be time-limited for five years.
3283577 pc Jul 01, 2026 rghosh South Africa Reserve Bank of South Africa horizon scanning
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South Africa's Reserve Bank Publishes Revised Interest Rate Risk Requirements for Banks

On June 30, 2026, the Reserve Bank of South Africa (SARB) published Directive 3 of 2026, which sets out revised requirements related to interest rate risk in the banking book (IRRBB). The directive updates prudential standards for banks operating in South Africa, establishing new frameworks for how deposit-taking institutions must identify, measure, monitor, and manage interest rate risk exposure within their banking books. Interest rate risk in the banking book refers to the potential impact on a bank's earnings and economic value when interest rates fluctuate, affecting the repricing of assets, liabilities, and off-balance-sheet items that are not held for trading purposes. The revised requirements aim to strengthen the resilience of South African banks by ensuring they maintain adequate capital and liquidity buffers against adverse interest rate movements. The directive applies to all banks and deposit-taking institutions regulated by the SARB's Prudential Authority (PA). The updated standards reflect evolving international best practices and align with global regulatory frameworks for managing interest rate risk, ensuring South African banks remain competitive and stable in a dynamic financial environment. The directive became effective on June 30, 2026. Banks must ensure compliance with the revised requirements as set out in Directive 3 of 2026. The full text of the directive and detailed requirements are available on the SARB's official publications portal.

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South Africa's Reserve Bank Publishes Revised Interest Rate Risk Requirements for Banks

On June 30, 2026, the South African Reserve Bank's Prudential Authority (PA) issued Directive 3 of 2026 (D3/2026)  directing all banks, controlling companies, and branches of foreign institutions to comply with revised requirements related to interest rate risk in the banking book (IRRBB), with effect from July 1, 2026. The directive implements the Basel Committee on Banking Supervision (BCBS) adjustments to interest rate shocks published on July 16, 2024, incorporating the recalibrated shocks into South Africa's domestic regulatory framework. The PA noted that as a BCBS member, South Africa is committed to the full and consistent implementation of all relevant BCBS frameworks and standards. Key points include: The detailed IRRBB requirements previously contained in regulation 30 of the Regulations relating to Banks are being deleted following a recommendation to the Minister of Finance and National Treasury, with the revised requirements now incorporated into the Directive. Banks, controlling companies, and branches of foreign institutions must comply with the revised IRRBB requirements, including the recalibrated interest rate shocks, set out in Annexure 1 to the Directive, with effect from July 1, 2026. The PA confirmed that no further comments were received following the second consultation on the proposed Directive issued on April 1, 2026, and the Directive has been finalised without amendment. The PA intends to subsequently convert the Directive into a Prudential Standard issued under section 105 of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017). Institutions are required to provide a copy of the Directive to their external auditors and return a signed acknowledgement of receipt, executed by both the Chief Executive Officer and the external auditors, to the PA as soon as possible. The directive comes into effect upon publication.
3284376 pc Jul 01, 2026 rghosh Israel Department of Justice - News horizon scanning
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Israel's Anti-Money Laundering and Terrorist Financing Authority Updates High-Risk and Monitored Jurisdictions List

On June 30, 2026, Israel's Authority for Prohibition of Money Laundering and Terrorist Financing (the Authority) published an update reflecting the Financial Action Task Force (FATF) announcements from June 19, 2026, regarding high-risk jurisdictions and those under increased monitoring. The FATF identified three jurisdictions on its "black list" (High-Risk Jurisdictions subject to a Call for Action): Iran, North Korea, and Myanmar. For Iran, the FATF noted that while Iran submitted updates in January 2026 regarding ratification of the United Nations Convention Against Transnational Organized Crime (Palermo Convention) and the International Convention for the Suppression of the Financing of Terrorism, Iran has not met international standards in implementation. Iran has failed to implement most milestones from its action plan since 2016. The FATF called on all countries to implement effective countermeasures against Iran, including prohibiting Iranian financial institutions from establishing subsidiaries or representative offices, restricting correspondent banking relationships, and implementing risk-based restrictions on business transactions with Iran and Iranian nationals. The FATF emphasised that humanitarian aid, food, health products, diplomatic costs, and personal remittances must be appropriately handled. Iran will remain on the black list until it fully completes its action plan. For North Korea, the FATF reiterated concerns about the country's failure to address significant deficiencies in its anti-money laundering and terrorist financing regime, and called for enhanced due diligence procedures and closure of North Korean banks in other jurisdictions. For Myanmar, the FATF called for enhanced due diligence and increased monitoring, while permitting humanitarian assistance and legitimate remittances. If Myanmar does not demonstrate progress by October 2026, the FATF will consider implementing financial countermeasures. The FATF removed Namibia and Algeria from its "grey list" (Jurisdictions under Increased Monitoring). The updated grey list includes 21 jurisdictions requiring enhanced monitoring due to strategic deficiencies in their regimes. The Authority's notice applies to banking corporations, postal banks, stock exchange members, portfolio managers, institutional bodies, financial asset and credit service providers, precious stone traders, business service providers, credit mediation system operators, and merchant venues. These entities must implement enhanced control measures for activities involving the listed jurisdictions and report all transactions of 5,000 Israeli new sheqels or more involving specified countries including Lebanon, Egypt, Syria, Saudi Arabia, Jordan, Iraq, Yemen, Iran, Algeria, Afghanistan, Palestinian Authority, Gaza Strip, Libya, Gulf Cooperation Council states, Malaysia, Morocco, Sudan, Somalia, Pakistan, Tunisia, Turkey, and North Korea.

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Israel's Anti-Money Laundering and Terrorist Financing Authority Updates High-Risk and Monitored Jurisdictions List

On June 30, 2026, the Head of Israel's Authority for the Prohibition of Money Laundering and Terrorist Financing published a notice updating the lists of high-risk and monitored countries following FATF statements published on June 19, 2026. The notice applies to banking corporations, the Postal Bank, stock exchange members, portfolio managers, institutional entities, financial asset and credit service providers, precious stone traders, business service providers, credit brokerage system operators, and trading platforms. Iran, North Korea, and Myanmar remain on the blacklist. Key countermeasures called for include: Refusing to allow Iranian and North Korean financial institutions to establish subsidiaries, branches, or representative offices. Prohibiting new correspondent relationships with Iranian and North Korean financial institutions and VASPs, with risk-based monitoring of existing relationships. Applying risk-based restrictions on business relationships and financial transactions, including virtual asset transactions, with Iran and its nationals. Applying enhanced due diligence to Myanmar, with financial preventive measures to be considered if no progress on its action plan is demonstrated by October 2026. The updated grey list comprises: Angola, Bolivia, Bulgaria, Cameroon, Côte d'Ivoire, Democratic Republic of the Congo, Haiti, Iraq, Kenya, Kuwait, Laos, Lebanon, Monaco, Nepal, Papua New Guinea, South Sudan, Syria, Venezuela, Vietnam, British Virgin Islands, and Yemen. Supervised entities must apply enhanced control measures to all grey and blacklisted jurisdictions and report any transaction of NIS 5,000 or more involving Lebanon, Egypt, Syria, Saudi Arabia, Jordan, Iraq, Yemen, Iran, Algeria, Afghanistan, the Palestinian Authority, the Gaza Strip, Libya, GCC countries, Malaysia, Morocco, Sudan, Somalia, Pakistan, Tunisia, Turkey, and North Korea, unless prohibited.
3283472 pc Jul 01, 2026 arahman Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank Revokes Financial Company Licence for Risky Activities

On June 29, 2026, the National Bank of Ukraine (NBU) revoked the financial services licence held by LLC "GOLD SPLIT" (registration number 40065194). The NBU's Committee on Supervision and Regulation of Non-Bank Financial Services Markets made this decision following an unscheduled inspection conducted between February and April 2026. The NBU revoked the licence because LLC "GOLD SPLIT" engaged in risky activities that threatened the interests of clients and creditors. The company provided credit funds, banking metals, factoring, guarantees, and financial leasing services. The inspection identified multiple violations of prudential requirements, including breaches of minimum capital adequacy standards and leverage ratios under the Regulation on Prudential Requirements for Financial Companies. Additionally, the NBU found that the company conducted transactions lacking economic justification and engaged in activities that resulted in two or more prudential requirement violations within six months preceding the inspection date. The company also breached capital adequacy and maximum risk concentration norms under the Regulation on the Regulation of Financial Company Activities for Guarantee Providers within a single reporting period during the calendar year preceding the inspection. The NBU's decision takes effect from the date the decision is communicated through official channels, with the communication date being the day the decision is sent by post. Following licence revocation, LLC "GOLD SPLIT" loses the right to provide financial services but remains obligated to fulfil its existing contractual commitments to clients and creditors.

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National Bank of Ukraine Revokes Gold Split's Licence for Prudential Requirement Failures

On June 30, 2026, the National Bank of Ukraine (NBU) revoked the financial services licence held by Gold Split for the activity of financial leasing and provision of funds on credit. The NBU's Committee on Supervision and Regulation of Non-Bank Financial Services Markets made this decision following an unscheduled inspection conducted between February and April 2026. The NBU revoked the licence because Gold Split engaged in risky activities that threatened the interests of clients and creditors. The inspection identified multiple violations of prudential requirements, including breaches of minimum capital adequacy standards and leverage ratios under the Regulation on Prudential Requirements for Financial Companies . Additionally, the NBU found that the company conducted transactions lacking economic justification and engaged in activities that resulted in two or more prudential requirement violations within six months preceding the inspection date. The company also breached capital adequacy and maximum risk concentration norms under the Regulation on the Regulation of Financial Company Entitled to Provide Guarantees within a single reporting period during the calendar year preceding the inspection.
3286479 pc Jul 01, 2026 tojuri Hungary Hungarian National Bank horizon scanning
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Hungarian National Bank Publishes Guidance on Connected Client Groups Under Capital Requirements Regulation

On June 25, 2026, the Hungarian National Bank (MNB) published Recommendation 7/2026 establishing expectations for identifying and classifying connected client groups under Article 4(1)(39) of Regulation (EU) 2013/575 (Capital Requirements Regulation or CRR). The recommendation aims to enhance predictability in legal application and promote uniform implementation of prudential requirements for credit institutions and investment firms. It applies to Hungarian-based credit institutions and investment firms, as well as third-country branches of institutions from outside the European Economic Area. The MNB developed the guidance by considering the European Banking Authority's (EBA) guidelines on connected clients (EBA/GL/2017/15) and the European Commission's delegated regulation (EU) 2024/1728 supplementing the CRR with technical standards on identifying connected client groups. The recommendation establishes two primary connection types: control-based relationships and economic dependencies. For control-based connections, institutions must identify when one or more clients exercise control over others through shareholding majorities, board appointment rights, or decisive influence. For economic dependencies, institutions must assess whether financial difficulties of one client would likely cause financing or repayment difficulties for another. The MNB specifies that institutions must conduct proportionate investigations based on exposure size, with enhanced scrutiny when total exposure to a single client or group exceeds 5 percent of the institution's core capital. The recommendation requires institutions to establish comprehensive procedures for identifying, documenting, monitoring, and updating connected client relationships. Institutions must maintain current registries of connected client groups and conduct regular reviews, at minimum annually or when material exposure changes occur. For large exposures reaching 95 percent of the large exposure limit, quarterly reviews are mandatory. The MNB expects the highest credit risk decision-making forum to approve and monitor exposures to connected client groups classified as large exposures under CRR Article 392. Institutions must apply these expectations from July 1, 2026, replacing the previous MNB recommendation 28/2018 on the same subject.

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Hungarian National Bank Issues Recommendation on Connected Client Groups Under Capital Requirements Regulation

On June 25, 2026, the Hungarian National Bank (MNB) published Recommendation 7/2026 establishing expectations for identifying and classifying connected client groups under Article 4(1)(39) of Regulation (EU) 2013/575 (Capital Requirements Regulation - CRR). The recommendation aims to enhance predictability in the application of the law and promote uniform implementation of prudential requirements for credit institutions and investment firms. It applies to Hungarian-based credit institutions and investment firms, as well as third-country branches of institutions from outside the European Economic Area. The recommendations set out the MNB’s expectations regarding how institutions should categorise and treat connected client groups. The MNB expects the institution to classify all persons and organisations with whom it has an exposure under the CRR, or with whom it plans to enter into a contract involving the assumption of risk, into a client group. Institutions are expected to determine which clients are linked through control in accordance with Article 4(1)(39)(a) of the CRR and to identify which clients are linked through economic dependence in accordance with Article 4(1)(39)(b) of the CRR. The recommendations also set out the MNB’s expectations regarding control and management procedures for identifying related clients, including requiring institutions to have comprehensive knowledge of their customers and their relationships, and to ensure that their staff understand and apply the provisions set out in the recommendations. Institutions must apply these expectations from July 1, 2026, replacing the previous MNB recommendation 28/2018 on the same subject.
3286667 gc Jul 01, 2026 gkaliraman United Kingdom Advertising Standards Authority gamblingcompliance
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United Kingdom Advertising Standards Authority Upholds Ruling Against Videoslots Ltd Social Media Gambling Advertisement

On July 1, 2026, the Advertising Standards Authority (ASA) upheld a ruling against Videoslots Ltd, trading as Mr Vegas, for a paid Facebook advertisement seen on February 5, 2026. The ad promoted online gambling games and featured imagery from five slot games, including "Pink Elephants 2," "Razor Returns," "Sweet Bonanza," and "Big Bass Bonanza," alongside responsible gambling messaging and age-restriction logos. The ASA determined the advertisement breached the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) rule 16.3.12, which prohibits gambling advertisements from being likely to appeal strongly to under-18s. The ASA identified two tiles as particularly problematic: the "Pink Elephants 2" tile, featuring a large pink cartoon elephant in a psychedelic style reminiscent of children's cartoons and the Ice Age franchise; and the "Razor Returns" tile, depicting a robotic shark with exaggerated features against a brightly coloured seascape. The ASA considered both images likely to appeal strongly to children despite their intended adult audience. Videoslots Ltd argued the game imagery was intrinsic to commercially published slot games licensed by the Gambling Commission and intended exclusively for adults. The company also maintained robust age-verification controls were in place through Meta Ads Manager, restricting the ad to users aged 18 and older. However, the ASA found these controls insufficient, citing Ofcom research indicating that 30 percent of children aged 3 to 17 use Facebook and approximately 20 percent of 8- to 17-year-olds had registered user ages of at least 18 years, suggesting significant numbers of under-18s could access the advertisement despite targeting restrictions. The ASA directed that the advertisement must not appear again in its current form and instructed Videoslots Ltd not to feature content likely to appeal strongly to under-18s.

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UK advertising authority upholds ruling against Videoslots Ltd social media gambling ad

On July 1, 2026, the UK Advertising Standards Authority (ASA) upheld a ruling against Videoslots Ltd, trading as Mr Vegas, for a paid Facebook advertisement seen on February 5, 2026. The ad promoted online gambling games and featured imagery from five slot games, including "Pink Elephants 2," "Razor Returns," "Sweet Bonanza," and "Big Bass Bonanza," alongside responsible gambling messaging and age-restriction logos. The ASA determined the advertisement breached the Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) rule 16.3.12 , which prohibits gambling advertisements from being likely to appeal strongly to under-18s. The ASA identified two tiles as particularly problematic: the "Pink Elephants 2" tile, featuring a large pink cartoon elephant in a psychedelic style reminiscent of children's cartoons and the Ice Age franchise; and the "Razor Returns" tile, depicting a robotic shark with exaggerated features against a brightly coloured seascape. The ASA considered both images likely to appeal strongly to children despite their intended adult audience. Videoslots Ltd argued the game imagery was intrinsic to commercially published slot games licensed by the Gambling Commission and intended exclusively for adults. The company also maintained robust age-verification controls were in place through Meta Ads Manager, restricting the ad to users aged 18 and older. However, the ASA found these controls insufficient, citing Ofcom research indicating that 30 percent of children aged 3 to 17 use Facebook and approximately 20 percent of 8- to 17-year-olds had registered user ages of at least 18 years, suggesting significant numbers of under-18s could access the advertisement despite targeting restrictions. The ASA directed that the advertisement must not appear again in its current form and instructed Videoslots Ltd not to feature content likely to appeal strongly to under-18s.
3286291 gc Jul 01, 2026 gkaliraman United Kingdom Gambling Search results - gov.uk gamblingcompliance
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United Kingdom Department for Culture, Media and Sport Implements 25 Percent Gambling Commission Fee Increase

On March 30, 2026, the Department for Culture, Media and Sport (DCMS) published its government response to a consultation on Gambling Commission operating licence fee changes. The DCMS received 47 responses to its consultation, which ran from January 27, 2026 to March 30, 2026, primarily from gambling operators, suppliers, and their representatives. The consultation proposed three options: a 30 percent headline increase, a 20 percent increase, or a 20 percent increase with an additional 10 percent ringfenced for tackling illegal markets. The government will not proceed with any of these options. Instead, it will implement a 25 percent headline increase to operating licence fees through secondary legislation, effective October 1, 2026. Society lotteries will be exempt from fee increases, with fees frozen at current levels. General betting (limited) operating licences will transition from a days-of-operation basis to a gross gambling yield (GGY) approach. Under this revised methodology, 44 percent of general betting (limited) operators will receive fee reductions, and a further 53 percent will experience increases of only £22. Personal licences, supplementary operating licences, single machine permits, and application fees for licence variations and changes of corporate control will all increase by 25 percent. First annual fees will continue to be charged at 75 percent of annual fees. The Gambling Commission currently operates with annual budget deficits of approximately £4 million. Even with the 25 percent increase, it must identify efficiency savings of at least £8 million over five years. The Commission will develop its strategy to tackle illegal gambling using £26 million in additional funding confirmed by HM Treasury over three years. Detailed fee schedules for all licence types, application fees, and ancillary charges are provided in the annexes to the response document. REFERENCE: https://www.gov.uk/government/consultations/proposed-changes-to-gambling-commission-fees/outcome/government-response-to-the-propsals-for-changes-to-gambling-commission-fees-from-1-october-2026

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UK government announces a 25 percent gambling fee increase

On June 30, 2026, the UK Department for Culture, Media and Sport (DCMS) published its government response to a consultation on Gambling Commission operating licence fee changes. The DCMS received 47 responses to its consultation, which ran from January 27, 2026 to March 30, 2026, primarily from gambling operators, suppliers, and their representatives. The consultation proposed three options: a 30 percent headline increase, a 20 percent increase, or a 20 percent increase with an additional 10 percent ringfenced for tackling illegal markets. The government will not proceed with any of these options. Instead, it will implement a 25 percent headline increase to operating licence fees through secondary legislation, effective October 1, 2026. Society lotteries will be exempt from fee increases, with fees frozen at current levels. General betting limited (non-remote) operating licences will transition from a days-of-operation basis to a gross gambling yield (GGY) approach. Under this revised methodology, 44 percent of general betting (limited) operators will receive fee reductions, and a further 53 percent will experience increases of only £22. Personal licences, supplementary operating licences, single machine permits, and application fees for licence variations and changes of corporate control will all increase by 25 percent. First annual fees will continue to be charged at 75 percent of annual fees. The Gambling Commission currently operates with annual budget deficits of approximately £4 million. Even with the 25 percent increase, it must identify efficiency savings of at least £8 million over five years. The Commission will develop its strategy to tackle illegal gambling using £26 million in additional funding confirmed by HM Treasury over three years. Detailed fee schedules for all licence types, application fees, and ancillary charges are provided in the annexes to the response document.
3284186 pc Jul 01, 2026 adavies European Union European Banking Authority horizon scanning
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European Banking Authority Clarifies Product Oversight and Governance Guidelines Addressing Greenwashing Risks

On June 30, 2026, the European Banking Authority (EBA) published revised Guidelines on product oversight and governance (POG) for retail banking products. The revised Guidelines clarify requirements for products with environmental, social and governance (ESG) features offered and sold to consumers, with explicit focus on addressing greenwashing risks. The EBA designed the Guidelines to ensure that financial institutions apply robust standards when designing and distributing ESG-related retail products, reducing the risk of consumers being misled or sold products that do not meet their needs. Targeted amendments make ESG and greenwashing considerations more explicit throughout the product lifecycle, particularly where such products are marketed to consumers. Key sections receiving updates include manufacturers' internal control functions, identification of the target market, distribution channels, and information provided to distributors. The Guidelines also include non-substantive updates reflecting changes introduced in 2020 to the revised EBA Founding Regulation and revisions to EBA Guidelines on internal governance under the Capital Requirements Directive (CRD) and sound management of third-party risk (SMTPR). These updates remove outdated provisions and ensure consistency with the current regulatory framework. The EBA Guidelines apply to manufacturers and distributors of products within its remit, including mortgages, personal loans, deposits, payment accounts, payment services and electronic money. The European Supervisory Authorities (ESAs) define greenwashing as practices whereby sustainability-related statements, declarations, actions or communications do not clearly and fairly reflect the underlying sustainability profile of an entity, financial product or financial service. The EBA will publish the Guidelines in all 24 languages in 2026, with an effective date of January 11, 2027. The EBA first issued its POG Guidelines in 2016 to address conduct risks and strengthen consumer protection in retail banking.

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European Banking Authority Clarifies Product Oversight and Governance Guidelines Addressing Greenwashing Risks

On June 30, 2026, the European Banking Authority (EBA) published revised Guidelines on product oversight and governance (POG) for retail banking products. The revised Guidelines clarify requirements for products with environmental, social and governance (ESG) features offered and sold to consumers, with explicit focus on addressing greenwashing risks. The EBA designed the Guidelines to ensure that financial institutions apply robust standards when designing and distributing ESG-related retail products, reducing the risk of consumers being misled or sold products that do not meet their needs. Targeted amendments make ESG and greenwashing considerations more explicit throughout the product lifecycle, particularly where such products are marketed to consumers. Key sections receiving updates include manufacturers' internal control functions, identification of the target market, distribution channels, and information provided to distributors. The guidelines will next be translated into all official EU languages. Upon publication, national competent authorities must report within two months whether they intend to comply with the guidelines. The guidelines will apply on January 11, 2027.
3285342 pc Jul 01, 2026 adavies European Union Official Gazette financial services
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European Central Bank Amends TARGET Settlement System Guidelines to Enable Cross-Currency Instant Payments

On May 4, 2026, the European Central Bank (ECB) published Guideline (EU) 2026/1473, amending Guideline (EU) 2022/912 on the Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET). The amendment introduces several operational enhancements to TARGET's instant payment settlement (TIPS) service and modifies participation eligibility criteria. The guideline establishes cross-currency settlement functionality within TIPS, enabling participants adhering to the European Payments Council's SEPA One-Leg Out Instant Credit Transfer (OCTs Inst) scheme to send and receive payments from November 14, 2026. From June 15, 2026, participants gain access to automatic liquidity transfer facilities between main cash accounts (MCAs) and TIPS dedicated cash accounts (TIPS DCAs), triggered when floor or ceiling limits are breached. The amendment clarifies eligibility requirements for applicant participants subject to restrictive measures adopted by the Council of the European Union or Member States under Articles 65(1)(b), 75, or 215 of the Treaty on the Functioning of the European Union, ensuring commensurable treatment with minimal discretion for TARGET component operators. National central banks (NCBs) retain the ability to accelerate participant obligations following defaults resulting in participation termination, though they may now elect not to accelerate obligations where defaults result in participation suspension only. From July 1, 2026, real-time gross settlement dedicated cash account (RTGS DCA) fees are amended, introducing revised pricing structures for monthly fees and transaction charges based on payment order volumes. National central banks must implement these amendments and notify the ECB of compliance measures by May 18, 2026, with measures from Annexes I and II applying from June 15, 2026, and measures from Annexes III and IV applying from November 14, 2026.

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European Central Bank Amends TARGET Settlement System Guidelines to Enable Cross-Currency Instant Payments

On July 1, 2026, the European Central Bank (ECB) published Guideline (EU) 2026/1473, amending Guideline (EU) 2022/912 on the Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET). The amendment introduces several operational enhancements to TARGET's instant payment settlement (TIPS) service and modifies participation eligibility criteria. The guideline establishes cross-currency settlement functionality within TIPS, enabling participants adhering to the European Payments Council's SEPA One-Leg Out Instant Credit Transfer (OCTs Inst) scheme to send and receive payments from November 14, 2026. From June 15, 2026, participants gain access to automatic liquidity transfer facilities between main cash accounts (MCAs) and TIPS dedicated cash accounts (TIPS DCAs), triggered when floor or ceiling limits are breached. The amended guideline enters into force on the day of its notification to the national central banks of the Member States
3284017 pc Jun 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 Criminal Facilitators Behind CJNG Cross-Border Fuel Smuggling Schemes

On June 30, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) announced coordinated actions targeting fuel smuggling schemes linked to Cartel de Jalisco Nueva Generacion (CJNG), a designated foreign terrorist organization and specially designated global terrorist. OFAC sanctioned two Mexican nationals and nine entities involved in cross-border fuel smuggling, falsified customs documentation, and shell company operations that generate tens of millions of dollars annually for the cartel while evading Mexican taxes. FinCEN issued a supplemental alert providing guidance on financial typologies and red flags indicative of CJNG and other Mexico-based transnational criminal organizations smuggling fuel from the United States into Mexico. The action reflects collaboration between OFAC and FinCEN, coordinated with a South Texas Homeland Security Task Force-led investigation involving the Drug Enforcement Administration (DEA), Homeland Security Investigations (HSI), Federal Bureau of Investigation (FBI), Internal Revenue Service – Criminal Investigation (IRS-CI), Department of Commerce – Bureau of Industry and Security (BIS), U.S. Customs and Border Protection (CBP), and Mexico's Unidad de Inteligencia Financiera (UIF). Among those designated is Oscar Guillermo Juraidini Silva, who operates as an accountant and mastermind behind financial operations for CJNG, creating shell companies and falsifying customs documents to facilitate fuel smuggling. Juraidini owns six Mexican businesses and one United Kingdom-based entity. OFAC also designated J. Refugio Ruiz Villagomez, who plays a role in Jomadi Logistics & Cargo and Ahavat Logistics Solution, both involved in fuel smuggling without proper permits. All designated persons' property and interests in the United States are blocked, and U.S. persons are prohibited from transacting with them unless authorized by OFAC license.

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US Department of the Treasury Targets Facilitators of Cartel’s Cross‑Border Fuel Smuggling Schemes

On June 30, 2026, the US Department of the Treasury announced that its sub-agencies, the US Office of Foreign Assets Control (OFAC) and US Financial Crimes Enforcement Network (FinCEN) had taken coordinated action to combat cross-border fuel smuggling schemes orchestrated by the Cartel de Jalisco Nueva Generacion (CJNG), a Mexico-based transnational criminal organization (TCO). According to the Treasury, these fuel smuggling schemes, along with corresponding tax evasion tactics, have become one of the most significant non-drug revenue sources for cartels, generating tens of millions of dollars annually to fund their criminal operations. As part of the coordinated action, OFAC sanctioned two individuals and nine entities directly tied to the CJNG fuel smuggling enterprise. In parallel, FinCEN issued a supplemental alert providing financial institutions with guidance on red flags and financial typologies associated with these schemes. This alert is intended to help financial institutions spot and report suspicious money laundering patterns related to illicit fuel sales, such as the use of complicit US fuel distributors, shell companies, mislabeled "waste oil" and the laundering of proceeds through luxury goods and real estate.
3283597 pc Jun 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 Hizballah Financial Institutions and Senior Officials

On June 30, 2026, the U.S. Department of the Treasury announced joint designations targeting Hizballah's financial infrastructure through the Terrorist Financing Targeting Center (TFTC). The designations encompassed five entities and 16 individuals, including major Hizballah institutions Al-Qard Al-Hassan (AQAH) and Bayt al-Mal, along with their senior leadership. All targets announced were previously designated by the United States; this action marks coordinated sanctions by TFTC member states to disrupt Hizballah's access to the international financial system. AQAH operates as a non-governmental organization (NGO) under a Lebanese Ministry of Interior license but functions as an illicit financial services provider, moving funds through shell accounts and facilitators. Bayt al-Mal serves as Hizballah's unofficial treasury, holding and investing assets while operating under direct supervision of the Hizballah Secretary General. Key designated individuals include Ibrahim Ali Daher, chief of Hizballah's Central Finance Unit; Adel Mohamad Mansour, executive director of AQAH; and Ahmad Mohamed Yazbeck, AQAH's financial director. Five AQAH officials—Abbas Hassan Gharib, Mustafa Habib Harb, Ezzat Youssef Akar, Hasan Chehadeh Othman, and Yazbeck—maintained joint bank accounts in Lebanese banks that facilitated transfers exceeding $500 million over a decade despite existing sanctions. Additional designated entities include Al-Khobara for Accounting, Auditing, and Studies; Tashilat SARL; and Auditors for Accounting and Auditing. The TFTC conducts joint sanctions actions, exchanges actionable intelligence on terrorist financing networks, and builds member capacity to counter terrorist threats. By restricting Hizballah's funding access, member states aim to protect the international financial system's integrity, support the Lebanese people, and counter terror networks threatening regional stability and global trade. This marks the third TFTC designation action in the current administration and the ninth since the center's creation in May 2017.

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US Department of the Treasury Designates Hizballah Financial Institutions and Senior Officials

On June 30, 2026, the US Department of the Treasury announced joint designations targeting Hizballah's financial infrastructure through the Terrorist Financing Targeting Center (TFTC). The designations encompass 16 individuals and five entities, including major Hizballah institutions Al-Qard Al-Hassan (AQAH) and Bayt al-Mal, along with their senior leadership. All targets announced were previously designated under existing US sanctions regimes, with this latest action marking coordinated sanctions by TFTC member states to disrupt Hizballah's access to the international financial system. The TFTC conducts joint sanctions actions, exchanges actionable intelligence on terrorist financing networks and builds member capacity to counter terrorist threats. By restricting Hizballah's funding access, member states aim to protect the international financial system's integrity, support the Lebanese people and counter terrorism networks threatening regional stability and global trade.
3282817 pc Jun 30, 2026 csoo United Kingdom Competition and Markets Authority horizon scanning
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United Kingdom Competition and Markets Authority Opens Call for Evidence on NFC Access Issues on iOS

On June 30, 2026, the Competition and Markets Authority (CMA) launched a call for evidence seeking views on key issues relating to Near Field Communication (NFC) access on iOS. The CMA is investigating technical methods for NFC access on Apple's mobile platform and the pricing of such access, as Apple is designated as having strategic market status in the provision of its mobile platform. The call for evidence invites stakeholders to submit their views on NFC access arrangements on iOS. The CMA has confirmed that any non-disclosure agreement a party may have in place with Apple should not prevent them from responding to this call for evidence. Apple has further confirmed that it will not use any confidentiality provision with a party to prevent them from responding to the CMA's inquiry. This assurance aims to encourage open participation from affected parties and ensure the CMA receives comprehensive evidence on the issues under investigation. The call for evidence closes at 11:59pm on July 21, 2026. Responses should be submitted to mobilesms@cma.gov.uk. The CMA's investigation forms part of its broader work examining competition issues across mobile platforms, particularly regarding access to key functionalities and fair pricing practices. Stakeholders with relevant experience or concerns regarding NFC access on iOS are encouraged to submit evidence within the consultation period. REFERENCES: Competition and Markets Authority. "Issues relating to NFC access on iOS – Call for evidence." June 30, 2026. Available at: https://www.gov.uk/cma-cases/issues-relating-to-nfc-access-on-ios

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UK's Competition and Markets Authority Launches Call for Evidence on NFC Access Issues on iOS

On June 30, 2026, the Competition and Markets Authority (CMA) launched a call for evidence seeking views on key issues relating to Near Field Communication (NFC) access on iOS. The CMA is investigating technical methods for NFC access on Apple's mobile platform and the pricing of such access, as Apple is designated as having strategic market status in the provision of its mobile platform. The call for evidence invites stakeholders to submit their views on NFC access arrangements on iOS. The CMA has confirmed that any non-disclosure agreement a party may have in place with Apple should not prevent them from responding to this call for evidence. Apple has further confirmed that it will not use any confidentiality provision with a party to prevent them from responding to the CMA's inquiry. The CMA is keen to open up access to NFC on Apple smartphones to enable fintechs and other developers to support contactless transactions from within their own iOS apps. This work is particularly important to the UK given the potential for contactless transactions for future use cases such as account-to-account (A2A) payments, digital identity and digital keys. The CMA is seeking responses and evidence on two specific design elements relating to: The technical method by which NFC access should be provided; and The price charged for such access. The call for evidence closes at 11:59pm on July 21, 2026, and responses can be submitted to mobilesms@cma.gov.uk .
3281770 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority and Bank of England Set Out Joint Regulation Approach for Systemic Stablecoin Issuers

On June 30, 2026, the Financial Conduct Authority (FCA) and the Bank of England published a joint approach outlining how they and other relevant authorities will regulate systemic stablecoin issuers in the United Kingdom. The joint approach clarifies how regulatory responsibilities will be divided between the FCA, the Bank of England, and HM Treasury. It establishes a framework for stablecoin issuers to transition from FCA supervision to joint regulation once HM Treasury recognises them as systemic. This transition mechanism ensures that as the stablecoin market develops, firms operating systemic stablecoins will move into a coordinated regulatory regime tailored to their systemic importance. The approach aims to provide clarity and predictability for firms operating in the UK stablecoin market. By setting out the division of responsibilities and the pathway for systemic recognition, the FCA and Bank of England seek to reduce regulatory uncertainty and support market development while maintaining financial stability and consumer protection. Stablecoin issuers currently supervised by the FCA should monitor developments regarding systemic designation, as this will determine whether they transition to joint regulation with the Bank of England and HM Treasury. The framework reflects the UK's commitment to establishing a comprehensive regulatory regime for digital assets as the sector matures. REFERENCES: Financial Conduct Authority. "FCA and the Bank of England set out approach to joint regulation of systemic stablecoin issuers." Published June 30, 2026. https://www.fca.org.uk/

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UK's Financial Conduct Authority and Bank of England Consult on Joint Regulatory Approach for Systemic Stablecoin Issuers

On June 30, 2026, the Financial Conduct Authority (FCA) and the Bank of England (BoE) published a joint consultation on their approach to how they, and other relevant authorities, will regulate systemic stablecoin issuers in the UK. The joint approach clarifies how regulatory responsibilities will be divided between the FCA, the Bank of England, and HM Treasury. It establishes a framework for stablecoin issuers to transition from FCA supervision to joint regulation once HM Treasury recognises them as systemic. This transition mechanism ensures that as the stablecoin market develops, firms operating systemic stablecoins will move into a coordinated regulatory regime tailored to their systemic importance. The approach aims to provide clarity and predictability for firms operating in the UK stablecoin market. By setting out the division of responsibilities and the pathway for systemic recognition, the FCA and Bank of England seek to reduce regulatory uncertainty and support market development while maintaining financial stability and consumer protection. This document sets out how the Bank and the FCA will apply the UK’s stablecoin regime jointly to systemic stablecoin issuers. The Bank’s proposed rules can be found in its Policy Statement and consultation on draft Code of Practice , while the FCA’s are available in its Stablecoin Issuance Policy Statement . This consultation sets out the following: How supervisory responsibilities will be allocated where issuers fall within the remit of multiple authorities. Which issuers will be subject to Bank requirements. How Bank requirements interact with FCA rules. How FCA rules apply or will be disapplied when a firm becomes jointly regulated. How transition arrangements will operate where an FCA-authorised stablecoin issuer is recognised by HMT as systemic and brought into the joint regulatory framework. How the Bank intends to apply its rules during the transition period for firms moving to joint regulation. The application of the UK’s stablecoin regime to systemic stablecoin issuers that are recognised as systemic at launch (SaL). Stablecoin issuers currently supervised by the FCA should monitor developments regarding systemic designation, as this will determine whether they transition to joint regulation with the Bank of England and HM Treasury. This consultation closes on September 30, 2026, responses can be made through the web form or by email to CP-systemicstablecoin@bankofengland.co.uk .
3281777 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Final Policy Statement on Handbook Application for Regulated Cryptoasset Activities

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/13, setting out final rules and guidance on how key cross-cutting FCA Handbook obligations will apply to regulated cryptoasset activities in the United Kingdom. The policy statement confirms that most firms carrying on regulated cryptoasset activities will be subject to requirements including the Consumer Duty, Conduct of Business Standards (COBS), Dispute Resolution, Financial Ombudsman Service access, Senior Management Arrangements Systems and Controls (SYSC), the Senior Managers and Certification Regime (SM&CR), Environmental Social and Governance (ESG), the Client Asset Sourcebook (CASS), and regulatory reporting. The FCA has maintained its proposed framework while making targeted refinements to improve clarity and proportionality. Key changes include excluding UK-issued qualifying stablecoins from the definition of restricted mass market investments, making focused amendments to SYSC, COBS, DISP, CASS and reporting requirements, and adjusting the enhanced threshold for SM&CR qualifying UK stablecoin issuers to £20 billion in backing assets calculated as a three-year rolling average. The policy statement provides clarifications to non-Handbook guidance on the Consumer Duty, including territorial scope, fair value, consumer support and consumer understanding. The FCA has also given further clarity on operational resilience expectations under SYSC 15A and clarified its approach to international cryptoasset firms, allowing dual-regulated firms to operate in the UK through a branch where the Prudential Regulation Authority (PRA) is satisfied that threshold conditions are met. The final rules and guidance come into force on October 25, 2027, when the FCA authorisation gateway opens for regulated cryptoasset activities.

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UK's Financial Conduct Authority Publishes Final Policy Statement on Handbook Application for Regulated Cryptoasset Activities

On June 30, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/13, setting out final rules and guidance on how key cross-cutting FCA Handbook obligations will apply to regulated cryptoasset activities in the UK. The policy statement confirms that most firms carrying on regulated cryptoasset activities will be subject to requirements including the Consumer Duty, Conduct of Business Standards (COBS), Dispute Resolution, Financial Ombudsman Service access, Senior Management Arrangements Systems and Controls (SYSC), the Senior Managers and Certification Regime (SM&CR), Environmental Social and Governance (ESG), the Client Asset Sourcebook (CASS), and regulatory reporting. Key changes include: Excluding UK-issued qualifying stablecoins from the definition of restricted mass market investments. Making focused amendments to SYSC, COBS, DISP, CASS and reporting requirements. Adjusting the enhanced threshold for SM&CR qualifying UK stablecoin issuers to £20 billion in backing assets calculated as a three-year rolling average. The policy statement provides clarifications to non-Handbook guidance on the Consumer Duty, including territorial scope, fair value, consumer support and consumer understanding. Further clarity on operational resilience expectations under SYSC 15A and clarified its approach to international cryptoasset firms, allowing dual-regulated firms to operate in the UK through a branch where the Prudential Regulation Authority (PRA) is satisfied that threshold conditions are met. The final rules and guidance come into force on October 25, 2027.
3282037 gc Jun 30, 2026 apintea Ukraine PlayCity Ukraine - Decisions gamblingcompliance
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Ukraine's PlayCity Agency Issues Financial Sanction Against Gorilla Bet Limited Liability Company

On June 26, 2026, Ukraine's PlayCity Agency (the state gambling regulator) issued Decision No. 246-Р imposing a financial sanction against Gorilla Bet Limited Liability Company (ТОВ "ГОРИЛЛАБЕТ"). The decision followed an unannounced remote inspection conducted by the agency. The sanction was applied following the agency's findings during the inspection process. PlayCity Agency, formally known as the State Agency for Gambling and Lottery Regulation, exercises regulatory oversight of Ukraine's gambling sector and holds authority to conduct inspections of licensed operators and impose penalties for regulatory violations. The decision document was published on June 26, 2026, and is available on the PlayCity Agency website. The agency's regulatory authority encompasses licensing activities, state supervision of gambling operations, and enforcement actions against operators that breach applicable legislation or regulatory requirements. REFERENCES: PlayCity Agency Decision No. 246-Р (June 26, 2026): https://playcity.gov.ua/

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Ukraine's gambling regulator issues financial penalty to Gorillabet LLC

On June 26, 2026, the state authority responsible for regulating gambling and lotteries in Ukraine, the PlayCity Agency, published an enforcement decision imposing a UAH4.3m (€84,687) financial penalty on LLC "Gorillabet" for violations of Ukrainian gambling legislation. The online casino operator had allowed self-excluded players to participate in gambling activities and failed to pay the annual licensing fee on time. The decision may be challenged in the administrative court within three months from the date it becomes binding. This enforcement action demonstrates the regulator's ongoing monitoring and compliance activities within the Ukrainian gambling market.
3281778 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Final Prudential Framework for Regulated Cryptoasset Firms

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/12, which sets out the final prudential framework for CRYPTOPRU firms—authorised persons carrying on regulated cryptoasset activities in the United Kingdom. The framework establishes comprehensive capital, liquidity, risk management and public disclosure requirements designed to ensure firms maintain adequate financial resources and operate with appropriate governance structures. The final rules apply to firms undertaking activities including issuing qualifying stablecoins, safeguarding cryptoassets, operating qualifying cryptoasset trading platforms, dealing in qualifying cryptoassets as principal or agent, and arranging qualifying cryptoasset staking. The framework introduces permanent minimum capital requirements ranging from £75,000 to £750,000 depending on the regulated activity, alongside activity-based K-factor requirements and fixed overhead requirements. Key recalibrations from the consultation proposals include reducing the operational risk capital requirement for stablecoin issuance from 2% to 1%, simplifying the market risk framework for net cryptoasset positions to a single 40% requirement for qualifying cryptoassets admitted to UK qualifying cryptoasset trading platforms, and introducing proportionality in public disclosure obligations. The framework also establishes an issuer liquid assets requirement for qualifying stablecoin issuers to address price volatility in backing asset pools, and introduces an overall risk assessment requirement for firms to identify, monitor and mitigate material harms from their business operations. The rules come into force on October 25, 2027, providing firms with a lead time from publication to the opening of the authorisation gateway in autumn 2026. The FCA has published the Core Prudential Sourcebook (COREPRU) and the Prudential Sourcebook for CRYPTOPRU Firms (CRYPTOPRU) as part of this instrument, alongside supporting non-Handbook guidance consultations to assist firms with implementation.

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UK's Financial Conduct Authority Publishes Policy Statement on Final Prudential Framework for Regulated Cryptoasset Firms

On June 30, 2026, the Financial Conduct Authority (FCA) published a Policy Statement (PS26/12), which sets out the final prudential framework for CRYPTOPRU firms, authorised persons carrying on regulated cryptoasset activities in the UK. The framework establishes comprehensive capital, liquidity, risk management and public disclosure requirements designed to ensure firms maintain adequate financial resources and operate with appropriate governance structures. The FCA has published the Core Prudential Sourcebook (COREPRU) and the Prudential Sourcebook for CRYPTOPRU Firms (CRYPTOPRU) as part of this instrument, alongside supporting non-Handbook guidance consultations to assist firms with implementation. The final rules apply to firms undertaking activities including issuing qualifying stablecoins, safeguarding cryptoassets, operating qualifying cryptoasset trading platforms, dealing in qualifying cryptoassets as principal or agent, and arranging qualifying cryptoasset staking. PS26/12 introduces the following non-exhaustive rules: Permanent minimum capital requirements ranging from £75,000 to £750,000 depending on the regulated activity, alongside activity-based K-factor requirements and fixed overhead requirements. Reducing the operational risk capital requirement for stablecoin issuance from 2 percent to 1 percent. Simplifying the market risk framework for net cryptoasset positions to a single 40 percent requirement for qualifying cryptoassets admitted to UK qualifying cryptoasset trading platforms, and introducing proportionality in public disclosure obligations. The framework also establishes an issuer liquid assets requirement for qualifying stablecoin issuers to address price volatility in backing asset pools, and introduces an overall risk assessment requirement for firms to identify, monitor and mitigate material harms from their business operations. The rules come into force on October 25, 2027, providing firms with a lead time from publication to the opening of the authorisation gateway in autumn 2026.
3280909 pc Jun 30, 2026 pdonofrio US Track 3 Enforcement Actions - Commodity Futures Trading Commission (CFTC) financial services
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Commodity Futures Trading Commission Orders Two Foreign Firms to Pay $2.5 Million for Illegal Off-Exchange Transactions

On June 29, 2026, the Commodity Futures Trading Commission (CFTC) announced an enforcement order against Netrios LP Ltd. and Red Acre Ltd. for facilitating illegal off-exchange leveraged or margined retail commodity transactions involving U.S. customers who were not eligible contract participants. Under the order, Netrios must pay a $1.75 million civil monetary penalty, and Red Acre must pay a $750,000 civil monetary penalty. Both firms must cease and desist from the unlawful conduct. The CFTC found that Netrios sold a specialized service providing essential functions used to offer and sell leveraged or margined retail commodities through offshore, off-exchange branded platforms that solicited U.S. customers without regard for whether those customers met eligible contract participant requirements. Red Acre intentionally supported Netrios by providing customer and other support services. In doing so, Netrios carried out activities that lawfully could only be performed on a CFTC-registered exchange, and Red Acre aided and abetted Netrios's illegal activities. The enforcement action targets firms operating outside regulatory frameworks to serve U.S. retail customers in violation of CFTC rules governing off-exchange transactions. The order demonstrates the CFTC's commitment to protecting retail customers from unlicensed commodity trading platforms and ensuring compliance with eligibility requirements for leveraged trading. The Securities and Exchange Commission (SEC) announced the filing and settling of charges against both firms based on the same underlying conduct. The CFTC coordinated with the SEC, the Central Bank of Ireland, the Financial Services Authority of Seychelles, and the Malta Financial Services Authority in this enforcement action.

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US Commodity Futures Trading Commission Fines Two Foreign Firms $2.5m for Illegal Off-Exchange Transactions

On June 29, 2026, the US Commodity Futures Trading Commission (CFTC) announced enforcement orders against Netrios LP Ltd. and Red Acre Ltd. for facilitating illegal off-exchange leveraged or margined retail commodity transactions involving US customers who were not eligible contract participants. Under the order, Netrios must pay a $1.75m civil monetary penalty, and Red Acre must pay a $750,000 civil monetary penalty. Both firms must also cease and desist from the unlawful conduct. The CFTC found that Netrios sold a specialized service providing essential functions used to offer and sell leveraged or margined retail commodities through offshore, off-exchange branded platforms that solicited US customers without regard for whether those customers met eligible contract participant requirements. Red Acre intentionally supported Netrios by providing customer and other support services. In doing so, Netrios carried out activities that lawfully could only be performed on a CFTC-registered exchange, and Red Acre aided and abetted Netrios's illegal activities.
3280544 pc Jun 30, 2026 pdonofrio US Track 2 Federal Financial Institutions Examination Council financial services
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Federal Financial Institutions Examination Council Releases Statement on Promoting De Novo Depository Institution Formation

On June 29, 2026, the Federal Financial Institutions Examination Council (FFIEC) released a statement on behalf of its member entities promoting de novo depository institution formation. The statement provides applicants with agency-specific resources to support the de novo formation process. The FFIEC clarified that the statement does not constitute new instructions or regulatory requirements. Rather, it offers increased transparency into existing de novo formation procedures, helping prospective applicants understand the application process and available support mechanisms across member agencies. De novo depository institutions are newly chartered banks or credit unions entering the financial services market, and the FFIEC's statement aims to facilitate their formation by consolidating guidance and resources from its constituent regulatory bodies. The statement includes links to agency-specific resources tailored to applicants seeking to establish de novo depository institutions. These resources are designed to streamline access to information and guidance from the various FFIEC member entities involved in the chartering and examination process. The full statement and accompanying agency resources are available on the FFIEC's official announcement page (Announcement 2026-05). **Reference:** Federal Financial Institutions Examination Council. "FFIEC Statement on Promoting De Novo Depository Institution Formation." June 29, 2026. https://www.ffiec.gov/

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US Federal Financial Institutions Examination Council Releases Statement on Promoting De Novo Depository Institution Formation

On June 29, 2026, the US Federal Financial Institutions Examination Council (FFIEC) released a statement on behalf of its member entities promoting de novo depository institution formation. The statement provides applicants with agency-specific resources to support the de novo formation process. The FFIEC clarified that the statement does not constitute new instructions or regulatory requirements. Rather, it offers increased transparency into existing de novo formation procedures, helping prospective applicants understand the application process and available support mechanisms across member agencies. De novo depository institutions are newly chartered banks or credit unions entering the financial services market, and the FFIEC's statement aims to facilitate their formation by consolidating guidance and resources from its constituent regulatory bodies. The statement includes links to agency-specific resources tailored to applicants seeking to establish de novo depository institutions. These resources are designed to streamline access to information and guidance from the various FFIEC member entities involved in the chartering and examination process.
3281779 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Comprehensive Cryptoasset Regime Policy Statement

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/11, which sets out final rules and guidance for regulated cryptoasset activities. This represents the culmination of the FCA's consultation process on the new cryptoasset regulatory framework, which came into force on October 25, 2027. The policy statement covers eight core cryptoasset activities: operating qualifying cryptoasset trading platforms (QCATPs), dealing in qualifying cryptoassets as principal or agent, arranging deals in qualifying cryptoassets, safeguarding cryptoassets, arranging cryptoasset safeguarding, cryptoasset lending and borrowing, and arranging qualifying cryptoasset staking. The FCA has implemented targeted amendments to its original proposals following consultation feedback, while retaining the overall framework. Key changes include removing principal dealers from pre-trade transparency requirements, clarifying best execution expectations to permit flexible arrangements rather than mechanical transaction-by-transaction checks, and introducing a 2 percent settlement float limit for UK QCATPs (increased from the originally proposed 1 percent). The FCA confirmed that retail protections apply to cryptoasset lending, borrowing, and staking services, with mandatory over-collateralisation requirements and negative balance protection for retail clients engaging in cryptoasset borrowing. For decentralised finance (DeFi), the FCA confirmed its approach that rules apply where an identifiable controlling entity exists. The cost-benefit analysis estimates total costs to firms at £920 million over a ten-year appraisal period, with quantified benefits to consumers estimated at £1.14 billion, primarily through reduced custody failures and improved regulatory protections. The FCA intends to monitor outcomes of the regime and conduct an evaluation at a future date.

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UK's Financial Conduct Authority Publishes Cryptoasset Regime Policy Statement

On June 30, 2026, the Financial Conduct Authority (FCA) published Policy Statement (PS 26/11), which sets out final rules and guidance for regulated cryptoasset activities. The policy statement covers eight core cryptoasset activities: Operating qualifying cryptoasset trading platforms (QCATPs). Cryptoasset intermediaries, covering those dealing in qualifying cryptoassets as principal or agent, arranging deals in qualifying cryptoassets. Pre- and post-trade transparency. Record keeping and client reporting. Cryptoasset lending and borrowing. Safeguarding cryptoassets, arranging cryptoasset safeguarding. Arranging qualifying cryptoasset staking. Decentralised Finance (DeFi). The FCA has implemented targeted amendments to its original proposals following consultation feedback, while retaining the overall framework. Key changes include: Removing principal dealers from pre-trade transparency requirements Clarifying best execution expectations to permit flexible arrangements rather than mechanical transaction-by-transaction checks, Introducing a 2 percent settlement float limit for UK QCATPs (increased from the originally proposed 1 percent). The FCA confirmed that retail protections apply to cryptoasset lending, borrowing, and staking services, with mandatory over-collateralisation requirements and negative balance protection for retail clients engaging in cryptoasset borrowing. For DeFi, the FCA confirmed its approach that rules apply where an identifiable controlling entity exists. The FCA intends to monitor outcomes of the regime and conduct an evaluation at a future date.
3279373 pc Jun 30, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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Russia's Central Bank of Russian Federation Opens Public Consultation on Multiple Regulatory Amendments

The Central Bank of Russian Federation (CBR) launched public consultations on multiple draft regulatory amendments across financial markets and institutional governance. The consultations are part of the CBR's 2026 regulatory agenda and invite stakeholder feedback through designated submission deadlines and email addresses. The draft amendments cover several key areas. The first addresses changes to Regulation No. 646-P from July 4, 2018, concerning the methodology for determining own funds (capital) of credit organisations under Basel III standards. The second proposes amendments to the list of insider information maintained by the CBR under Regulation No. 5140-U from May 6, 2019. Additional drafts modify Regulation No. 5514-U from July 27, 2020; Regulation No. 6876-U from September 30, 2024; and Regulation No. 6818-U from August 5, 2024. The CBR also proposes new procedures governing the selection of bankruptcy trustees and self-regulatory organisations of bankruptcy trustees for credit organisation insolvencies, alongside accreditation procedures for bankruptcy trustees serving as competitive administrators. A further draft establishes a qualification examination programme for individuals seeking membership in the self-regulatory organisation of actuaries. These amendments affect credit institutions, bankruptcy administrators, self-regulatory organisations, and actuaries operating within Russia's financial system. The proposals aim to refine capital adequacy frameworks, insider information protocols, and professional qualification standards. Stakeholders must submit comments by the specified deadlines, ranging from July 1, 2026, to July 12, 2026. Submissions should be directed to designated CBR email addresses provided for each consultation. All draft regulations and explanatory notes are available on the CBR website for public review.

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Central Bank of Russia Consults on Amendments to the Methodology of Determining Own Funds for Banks

On June 29, 2026, the Central Bank of Russia (CBR) launched a consultation on the Draft CBR Instruction "On Amendments to Bank of Russia Regulation No. 646-P of July 4, 2018 "On the Methodology for Determining the Equity (Capital) of Credit Institutions (Basel III)". The key proposed changes include: Updating cross-references to newer CBR prudential rules, especially replacing older references such as Regulation No. 611-P with Regulation No. 878-P. Allowing phased inclusion of certain software intangible assets in the capital calculation, subject to conditions such as the software supporting technological independence and security of critical information infrastructure, being included in Russian software registers, and being confirmed by an audit firm. Revising the treatment of subordinated instruments, including when interest must be suspended and when conversion/write-down triggers apply, with new capital adequacy thresholds and transitional treatment for instruments included before January 1, 2027. Setting eligibility and interest-rate conditions for subordinated loans, deposits and bonds that may be included in own funds/capital. Comments and feedback are welcome up until July 12, 2026 and can be sent via email to shmatokev@cbr.ru .
3281854 pc Jun 30, 2026 arahman Denmark Financial Supervisory Authority horizon scanning
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Denmark's Financial Supervisory Authority Issues Enforcement Orders to Jyske Bank Following Operational Risk Inspection

On June 29, 2026, Denmark's Financial Supervisory Authority (FSA) published an inspection report concerning the management of operational risk at Jyske Bank A/S. The FSA conducted the inspection in February 2026 to assess whether the bank's operational risk management complied with relevant policies, procedures, and requirements under the Management Order (ledelsesbekendtgørelsen). The FSA identified significant deficiencies in the bank's operational risk governance. The bank did not follow a clear and documented methodology for systematically identifying risks, creating an elevated risk that relevant operational risks remained unidentified. Although the bank implemented a requirement in 2021 to link identified risks to specific processes or systems, this had only been completed for approximately one-third of risks. The FSA found that the bank's risk descriptions, assessments, and documentation of risk-reducing controls varied substantially in scope and quality, with insufficient documentation supporting the bank's risk evaluations and control effectiveness assessments. Additionally, the bank recorded operational loss events only to a limited extent and failed to link these events to identified risks, reducing opportunities to improve risk identification and assessment practices. The FSA noted that while the bank maintained a reasonable operational risk policy approved by its board, the risk officer and management had failed to implement it satisfactorily over several years. Consequently, the FSA issued two enforcement orders: the bank must ensure that all group entities manage operational risks in accordance with its operational risk policy, and the risk officer must establish a sufficiently documented basis for the board's assessment of operational risks, including evaluation of whether risks are correctly identified, measured, managed, and reported. The bank had appointed a new leader for its non-financial risk management function and committed to allocating additional resources, though these were not in place at the time of inspection. The inspection did not result in changes to the bank's solvency requirements.

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Denmark's Financial Supervisory Authority Issues Remedial Action Order to Jyske Bank for Operational Risk Failures

On June 29, 2026, Denmark's Financial Supervisory Authority (FSA) published an inspection report concerning the management of operational risk at Jyske Bank A/S. The FSA conducted the inspection in February 2026 to assess whether the bank's operational risk management complied with relevant policies, procedures and requirements under the Management Order (ledelsesbekendtgørelsen). The FSA identified significant deficiencies in the bank's operational risk governance. The bank did not follow a clear and documented methodology for systematically identifying risks, creating an elevated risk that relevant operational risks remained unidentified. Although the bank implemented a requirement in 2021 to link identified risks to specific processes or systems, this had only been completed for approximately one-third of risks. The FSA found that the bank's risk descriptions, assessments and documentation of risk-reducing controls varied substantially in scope and quality, with insufficient documentation supporting the bank's risk evaluations and control effectiveness assessments. Additionally, the bank recorded operational loss events only to a limited extent and failed to link these events to identified risks, reducing opportunities to improve risk identification and assessment practices. The FSA noted that although the bank maintained a reasonable operational risk policy approved by its board, the risk officer and management had failed to implement it satisfactorily over several years. Consequently, the FSA issued two remedial action orders: the bank must ensure that all group entities manage operational risks in accordance with its operational risk policy, and the risk officer must establish a sufficiently documented basis for the board's assessment of operational risks, including evaluation of whether risks are correctly identified, measured, managed and reported. The bank had appointed a new leader for its non-financial risk management function and committed to allocating additional resources, although these were not in place at the time of inspection. The inspection did not result in changes to the bank's solvency requirements.
3281827 pc Jun 30, 2026 arahman Turkey TCMB - Publications horizon scanning
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Turkey's Central Bank and Hong Kong Monetary Authority Sign Financial Technologies Cooperation Memorandum

On June 30, 2026, the Central Bank of the Republic of Türkiye (TCMB) and the Hong Kong Monetary Authority (HKMA) signed a Memorandum of Understanding (MOU) to establish a framework for cooperation in financial technologies and innovation. The MOU creates a basis for facilitating information sharing in the field of financial innovation and enhancing cooperation on innovative projects between the two institutions. The agreement reflects both authorities' commitment to advancing their innovation capacities and exploring collaborative opportunities in fintech development. The MOU was signed by TCMB Governor Fatih Karahan and HKMA Chief Executive Eddie Yue. The cooperation framework enables the TCMB and HKMA to exchange knowledge and best practices regarding financial technology initiatives, supporting both institutions' efforts to foster innovation within their respective jurisdictions. This bilateral arrangement strengthens ties between Turkey and Hong Kong in the financial technology sector and may facilitate future joint projects or initiatives in areas such as digital payments, distributed ledger technology, or other emerging financial technologies. For further information, contact the TCMB at basin@tcmb.gov.tr.

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Turkey's Central Bank and Hong Kong Monetary Authority Sign Financial Technologies Cooperation Memorandum

On June 30, 2026, the Central Bank of the Republic of Türkiye (TCMB) and the Hong Kong Monetary Authority (HKMA) signed a memorandum of understanding (MOU) to establish a framework for cooperation in financial technologies and innovation. The MOU creates a basis for facilitating information sharing in the field of financial innovation and enhancing cooperation on innovative projects between the two institutions. The agreement reflects both authorities' commitment to advancing their innovation capacities and exploring collaborative opportunities in fintech development. The cooperation framework enables the TCMB and HKMA to exchange knowledge and best practices regarding financial technology initiatives, supporting both institutions' efforts to foster innovation within their respective jurisdictions.
3281938 pc Jun 30, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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I appreciate you providing this content, but I must inform you that the source material you've provided appears to be severely corrupted or garbled text. The content consists primarily of fragmented Cyrillic characters that do not form coherent Russian language text, making it impossible to extract meaningful information about any government action, regulation, appointment, or institutional change. To generate an accurate Horizon Scanning update, I require source material that contains: - Legible text in a recognizable language - Coherent sentences or structured information - Identifiable regulatory content, announcements, or official actions **I cannot proceed with generating an update based on this corrupted source material**, as doing so would violate the core requirement that Horizon Scanning updates must be "factual only" and accurately reflect the source content. **Please provide:** 1. A corrected or uncorrupted version of the source document 2. A link to the original source material 3. Or alternative source content in a readable format Once you supply legible source material, I will generate a compliant Horizon Scanning update following all specified guidelines.

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Central Bank of Russia Publishes Directive on the Application of Measures Against BNPL Providers

On January 14, 2026, the Central Bank of Russia (CBR) published the Directive on the Application of Measures by the CBR Against an Instalment Service Provider. This directive establishes the procedure by which the CBR may impose supervisory measures on instalment payment service providers under Federal Law No. 283-FZ of July 31, 2025, "On Activities Related to the Provision of Instalment Payment Services". Where an instalment service provider breaches the requirements of the Instalment Services Law, other federal laws within the CBR's supervisory remit, or related CBR regulations, the CBR must decide within 90 business days of identifying the breach whether to apply one or both of the following measures: Require the provider to remedy the identified violations. Restrict the provider's activities. A requirement to remedy violations is imposed by an authorised CBR official, while a decision to restrict an instalment service provider's activities is made by the Financial Supervision Committee of the CBR under Federal Law No. 86-FZ. Any supervisory measure is formalised through a CBR order, which specifies the provider's details, the legal provisions breached, the supervisory measure imposed, any deadlines for remediation, the duration of any activity restrictions and the documents or information the provider must submit to demonstrate compliance with the CBR's directive.
3281940 pc Jun 30, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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Central Bank of Russia Publishes Regulation on Instalment Payment Services

On March 24, 2026, the Central Bank of Russia (CBR) published Regulations on the issuance by the Bank of Russia of the instructions specified in Part 6 of Article 8 and Parts 4 to 6 of Article 9 of Federal Law No. 283-FZ of July 31, 2025, “On Activities Related to the Provision of Instalment Payment Services", and their forms, on the procedure for determining the number of shares (stakes) of an instalment service operator in the cases provided for in Parts 14 and 15 of Article 9 of Federal Law No. 283-FZ of July 31, 2025, “On Activities Related to the Provision of Instalment Payment Services”, and on the form of the Bank of Russia’s act revoking the directive specified in Parts 4 to 6 of Article 9 of Federal Law No. 283-FZ of July 31, 2025, “On Activities Related to the Provision of Instalment Payment Services”. These regulations establish: The procedure and deadlines for the CBR to issue the directive provided for in Part 6 of Article 8 of Federal Law No. 283-FZ of July 31, 2025 “On Activities Related to the Provision of Installment Payment Services, ” as well as the procedure for the Bank of Russia to issue the directive specified in Parts 4 to 6 of Article 9 of Federal Law No. 283-FZ of July 31, 2025, “On Activities Related to the Provision of Installment Payment Services”. The list of persons to whom copies of the directive specified in Parts 4 to 6 of Article 9 of Federal Law No. 283-FZ of July 31, 2025, “On Activities Related to the Provision of Instalment Payment Services” are sent, as well as the procedure by which the CBR sends copies of said directive to such persons and to the instalment service operator. The procedure by which the instalment service operator notifies its shareholders (participants) of the receipt of a copy of the order. The procedure for determining the number of shares (stakes) of the instalment service provider that confer voting rights on each shareholder (member) who is part of a group of persons holding more than 10 percent of the shares (interests) of the instalment service provider, effective from the day following the date on which the instalment service provider receives a copy of the order. These regulations enter into force ten days after their official publication.
3281941 pc Jun 30, 2026 arahman Russia The central Bank of Russian Federation horizon scanning
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Central Bank of Russia Publishes Regulation on Documents Submitted by Investment Firms

On March 23, 2026, the Central Bank of Russia (CBR) published the Regulation on the Procedure for the Registration (Approval) by the Bank of Russia of Documents of a Trading Organiser, Clearing Organisation, Repository, Central Securities Depository, Investment Platform Operator and Amendments Thereto, the List of Documents to be Attached and the Requirements for Such Documents. The regulation establishes: The procedure for the CBR to register the rules of organised trading and amendments thereto. The procedure for the CBR to register clearing rules. The procedure for the CBR to register rules for the conduct of depository activities. The procedure and deadlines for obtaining approval from the CBR for the internal documents of the central securities depository. The procedure for the CBR's approval of the rules of an investment platform. The list of documents to be attached to an application, on the basis of which the CBR decides whether to approve the rules of the investment platform or to refuse such approval. This regulation shall enter into force on April 1, 2027.
3280782 pc Jun 30, 2026 arahman Denmark Financial Supervisory Authority financial services
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Denmark's Financial Supervisory Authority Simplifies Recovery Plan Requirements for Smaller Banks

On June 29, 2026, Denmark's Financial Supervisory Authority (FSA) published new regulations and guidance simplifying recovery plan requirements for smaller and medium-sized credit institutions. The new rules take effect on July 1, 2026. Recovery plans are documents that credit institutions, mortgage credit institutions, ship financing institutions, and investment firms must prepare to demonstrate how they would restore financial stability if facing economic difficulties. The FSA's changes expand the number of institutions eligible to use simplified obligations within their recovery plans and reduce submission frequency from annually to every three years for qualifying institutions. Institutions using simplified obligations will therefore submit their next recovery plan in 2028. Additionally, the FSA raises the threshold for the smallest credit institutions to submit a capital raising plan instead of a full recovery plan from DKK 1 billion to DKK 2 billion in total assets. The FSA will designate annually which credit institutions may apply simplified obligations, with designations to be made as soon as possible after the rules take effect on July 1, 2026. These changes form part of the FSA's national proportionality regime project, which tailors regulatory requirements to institutions' size, complexity, and risk profile where European rules permit. The initiative aims to reduce administrative burdens on smaller, less complex institutions while maintaining financial robustness and consumer protection. The new rules implement the European Commission's delegated regulation (EU) 2019/348 and the Bank Recovery and Resolution Directive (BRRD). REFERENCES: Financial Supervisory Authority (FSA) – https://www.finanstilsynet.dk/

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1592 chars · nid 93589

Denmark's Financial Supervisory Authority Simplifies Recovery Plan Requirements for Smaller Banks

On June 29, 2026, Denmark's Financial Supervisory Authority (FSA) published new regulations and guidance simplifying recovery plan requirements for smaller and medium-sized credit institutions. Recovery plans are documents that credit institutions and mortgage credit institutions must prepare to demonstrate how they would restore financial stability if facing economic difficulties. The FSA's changes expand the number of institutions eligible to use simplified obligations within their recovery plans and reduce submission frequency from annually to every three years for qualifying institutions. Institutions using simplified obligations will therefore submit their next recovery plan in 2028. Additionally, the FSA raises the threshold for the smallest credit institutions to submit a capital raising plan instead of a full recovery plan from DKK1bn to DKK2bn in total assets. The FSA will designate annually which credit institutions may apply simplified obligations, with designations to be made as soon as possible after the rules take effect. These changes form part of the FSA's national proportionality regime project, which tailors regulatory requirements to institutions' size, complexity and risk profile where European rules permit. The initiative aims to reduce administrative burdens on smaller, less complex institutions while maintaining financial robustness and consumer protection. The new rules implement the European Commission's Delegated Regulation (EU) 2019/348 and the Bank Recovery and Resolution Directive (BRRD) . The new rules take effect on July 1, 2026.
3281775 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Non-Handbook Guidance on CRYPTOPRU Overall Risk Assessment

On June 30, 2026, the Financial Conduct Authority (FCA) launched a consultation on non-Handbook guidance (NHG) for Chapter 7 of CRYPTOPRU, the new prudential sourcebook for cryptoasset firms. The guidance clarifies FCA expectations regarding how cryptoasset firms should conduct overall risk assessments to comply with prudential requirements. The FCA developed this guidance to enhance the accessibility of its rules by distinguishing supporting material from core Handbook content, making it easier for firms to navigate requirements and adopt prudential standards consistently. The guidance addresses risk identification, stress testing, recovery actions, and wind-down planning. It covers key risk categories including market risk, leverage, credit risk, liquidity risk, operational risk, market liquidity, and concentration risk. The FCA expects firms to conduct forward-looking assessments reflecting both current and projected future positions, including the impact of new products, business lines, or material operating changes. The guidance emphasises stress testing as critical to understanding how risks, mitigants, and financial resources behave under both normal and stressed conditions. Firms must apply severe but plausible stresses and use reverse stress testing to identify the point at which their business model becomes unviable, informing recovery and wind-down planning. The FCA provides examples of firm-specific stresses (such as cyber-attacks or trading partner failures), market-wide stresses (such as cryptoasset price declines), and combined stresses. The guidance also addresses own funds and liquid asset requirements, wind-down planning, and group risk considerations specific to cryptoasset firms. The consultation period runs from June 30, 2026, until July 30, 2026. The FCA will accept responses via its website or email to gc26-5@fca.org.uk. Following the consultation, the FCA plans to publish the final non-Handbook guidance by September 30, 2026.

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UK's Financial Conduct Authority Consults onNon-Handbook Guidance on CRYPTOPRU: Overall Risk Assessment

On June 30, 2026, the Financial Conduct Authority (FCA) launched a guidance consultation (GC26/5) on non-Handbook guidance (NHG) for Chapter 7 of CRYPTOPRU, the new prudential sourcebook for cryptoasset firms. The guidance clarifies FCA expectations regarding how cryptoasset firms should conduct overall risk assessments to comply with prudential requirements. The FCA developed this guidance to enhance the accessibility of its rules by distinguishing supporting material from core Handbook content, making it easier for firms to navigate requirements and adopt prudential standards consistently. The guidance addresses the following areas: Risk identification. Stress testing. Recovery actions. Wind-down planning. Covers key risk categories including market risk, leverage, credit risk, liquidity risk, operational risk, market liquidity, and concentration risk. The FCA expects firms to conduct forward-looking assessments reflecting both current and projected future positions, including the impact of new products, business lines, or material operating changes. The guidance emphasises stress testing as critical to understanding how risks, mitigants, and financial resources behave under both normal and stressed conditions. Firms must apply severe but plausible stresses and use reverse stress testing to identify the point at which their business model becomes unviable, informing recovery and wind-down planning. The FCA provides examples of firm-specific stresses (such as cyber-attacks or trading partner failures), market-wide stresses (such as cryptoasset price declines), and combined stresses. The guidance also addresses own funds and liquid asset requirements, wind-down planning, and group risk considerations specific to cryptoasset firms. This consultation is relevant to: Firms seeking authorisation and regulation for the Regulated Activities outlined in the Cryptoasset Regulations. Firms that participate in, or support the services of, regulated cryptoasset activities. Industry groups, law firms and trade bodies representing firms in the cryptoasset sector. Professional advisers in the cryptoasset sector and law firms. Consumers and groups representing consumer interests. The consultation closes on July 30, 2026, and responses can be made through either the online form or by email to gc26-5@fca.org.uk . Following the consultation, the FCA plans to publish the final non-Handbook guidance by September 30, 2026.
3281774 pc Jun 30, 2026 csoo United Kingdom Financial Conduct Authority horizon scanning
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United Kingdom Financial Conduct Authority Publishes Final Rules for Cryptoasset Admissions, Disclosures and Market Abuse Regime

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/9, setting out final rules for the Admissions and Disclosures (A&D) regime and the Market Abuse Regime for Cryptoassets (MARC) under the Designated Activities Regime. These rules implement requirements from the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026. The A&D regime establishes a gateway for qualifying cryptoassets admitted to trading on UK qualifying cryptoasset trading platforms (UK QCATPs). Retail UK QCATP operators must conduct due diligence and ensure qualifying cryptoasset disclosure documents (QCDDs) are published before admission. The regime requires operators to establish risk-based admission criteria, assess whether admission would be detrimental to retail investor interests, and maintain records for five years. QCDDs must contain material information enabling retail investors to make informed decisions. The FCA removed a proposed exception for fungible cryptoassets, requiring separate QCDDs for each admission. Supplementary disclosure documents must be published if material new information or inaccuracies arise before admission. Withdrawal rights apply where supplementary disclosure documents are published before trading commences. The MARC regime prohibits insider dealing, unlawful disclosure of inside information, and market manipulation. UK QCATP operators and cryptoasset intermediaries must establish effective systems and controls to prevent, detect and disrupt market abuse. Large UK QCATPs (those with average revenue of £10 million or more annually over three years) face additional requirements including on-chain monitoring of linked wallet activity and cross-platform information sharing with other large operators. The regime requires public disclosure of inside information as soon as possible, with limited delayed disclosure permitted where immediate disclosure would prejudice legitimate interests. The rules come into force on October 25, 2027.

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UK's Financial Conduct Authority Publishes Final Rules for Cryptoasset Admissions, Disclosures and Market Abuse Regime

On June 25, 2026, the Financial Conduct Authority (FCA) published Policy Statement (PS26/9), setting out final rules for the Admissions and Disclosures (A&D) regime and the Market Abuse Regime for Cryptoassets (MARC) under the Designated Activities Regime. These rules implement requirements from the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 . The A&D regime establishes a gateway for qualifying cryptoassets admitted to trading on UK qualifying cryptoasset trading platforms (UK QCATPs). PS 26/9 sets out the following: Bans public offers of qualifying cryptoassets in the UK, subject to certain exceptions including exceptions for offers connected with admissions to trading. New requirements including the specification of a Digital Token Identifier (DTI) standard, refining the limited exception to preparing a qualifying cryptoasset disclosure documents (QCDDs), strengthening withdrawal rights notifications, and clarifying areas such as admission criteria, due diligence requirements and the trigger for an supplementary disclosure documents (SDDs). The regime requires operators to establish risk-based admission criteria, assess whether admission would be detrimental to retail investor interests, and maintain records for five years. QCDDs must contain material information enabling retail investors to make informed decisions. The FCA removed a proposed exception for fungible cryptoassets, requiring separate QCDDs for each admission. Supplementary disclosure documents must be published if material new information or inaccuracies arise before admission. Withdrawal rights apply where supplementary disclosure documents are published before trading commences. The MARC regime prohibits insider dealing, unlawful disclosure of inside information, and market manipulation. UK QCATP operators and cryptoasset intermediaries must establish effective systems and controls to prevent, detect and disrupt market abuse. Large UK QCATPs (those with average revenue of £10m or more annually over three years) face additional requirements including on-chain monitoring of linked wallet activity and cross-platform information sharing with other large operators. Creates a statutory compensation regime for QCDDs and SDDs in relation to losses suffered as a result of untrue or misleading statements or omissions of material information. The A&D rules will apply to: The admission to trading of qualifying cryptoassets on UK QCATPs that allow retail participation, defined as a ‘retail UK QCATP’. Public offers to retail investors made in reliance on the exceptions in paragraph 6 of Part 1 of Schedule 1 to the Cryptoassets Regulations. These exceptions allow offers that are conditional on an admission to trading or where the qualifying cryptoasset is, at the time of the offer, admitted to trading on a UK QCATP. Advertisements relating to the admission to trading of qualifying cryptoassets on UK QCATPs. The regime requires public disclosure of inside information as soon as possible, with limited delayed disclosure permitted where immediate disclosure would prejudice legitimate interests. The rules come into force on October 25, 2027.
3278826 pc Jun 30, 2026 kgurnani Australia Australian Prudential Regulation Authority financial services
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Australian Prudential Regulation Authority Launches Consultation on Credit Risk Capital Requirements for Deposit-Taking Institutions

On June 29, 2026, the Australian Prudential Regulation Authority (APRA) released a consultation paper outlining targeted, risk-sensitive reforms to credit risk capital requirements and guidance for authorised deposit-taking institutions (ADIs). The consultation, titled "Getting the balance right on financial resilience – Workstream 1: Credit risk capital," forms part of APRA's broader program of capital and liquidity reforms for ADIs. The proposals aim to improve risk sensitivity in capital requirements, support productive lending, and maintain "unquestionably strong" capital settings. APRA released draft standards and guidance accompanying the consultation, including a draft Reporting Standard (ARS 112 Capital Adequacy), draft Prudential Standard (APS 112 Capital Adequacy), and draft Prudential Practice Guide (APG 112 Capital Adequacy). These documents are available in both clean and marked-up versions to facilitate stakeholder review. The consultation addresses workstream 1 of APRA's capital and liquidity reform program, focusing specifically on credit risk capital frameworks. The reforms are designed to enhance the risk sensitivity of capital requirements while supporting ADIs' ability to lend productively to the economy. Written submissions must be sent to policydevelopment@apra.gov.au by September 7, 2026. APRA will publish all submissions on its website unless respondents specifically request confidentiality in writing; automatically generated confidentiality statements do not satisfy this requirement. Submissions may be subject to requests for access under the Freedom of Information Act 1982 (FOIA), though information about APRA-regulated entities identified as confidential will be protected under section 56 of the Australian Prudential Regulation Authority Act 1998.

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Australian Prudential Regulation Authority Launches Consultation on Credit Risk Capital Requirements for Deposit-Taking Institutions

On June 29, 2026, the Australian Prudential Regulation Authority (APRA) released a consultation paper outlining targeted, risk-sensitive reforms to credit risk capital requirements and guidance for authorised deposit-taking institutions (ADIs). This is Workstream 1 of APRA’s broader 2026 reform package on bank capital and liquidity settings. The package is intended to preserve Australia’s “unquestionably strong” bank capital framework while making targeted changes that support lending, productivity and competition. The key proposal in the paper involves introducing a new 65% risk weight for high-quality unrated corporate borrowers, above the existing investment-grade category. Under the current approach, ADIs can categorise unrated corporate non-SME borrowers as investment grade, attracting an 85% risk weight, or non-investment grade, attracting a 110% risk weight. Entities without an approved methodology to categorise borrowers continue to apply a 100% risk weight. APRA is now proposing a further distinction of a new 65% risk weight for high-quality investment grade unrated corporate borrowers, where the borrower is risk-graded as equivalent to an A- credit rating or better. APRA is also proposing updates to APG 112 and ARS 112.0 to support the changes, including a new reporting category for unrated exposures subject to the proposed 65% risk weight. Submissions are due by 7 September 2026. APRA expects to finalise amendments to APS 112, ARS 112.0 and APG 112 in late 2026, with implementation proposed for 1 April 2027.
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