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3262894 pc Jun 24, 2026 adavies European Union European Securities and Markets Authority horizon scanning
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European Securities and Markets Authority Calls on Unauthorised Crypto-Asset Service Providers to Wind Down Operations

On June 23, 2026, the European Securities and Markets Authority (ESMA) issued a public statement clarifying expectations for unauthorised crypto-asset service providers (CASPs) to wind down activities following the end of the Markets in Crypto-Assets Regulation (MiCA) transitional period on July 1, 2026. While many CASPs will have obtained authorisation by the deadline, ESMA recognises that other entities, including significant providers currently servicing European Union clients under national regimes, may not be authorised. ESMA expects unauthorised CASPs to take immediate steps to wind down their EU activities in an orderly manner while protecting investors and mitigating risks to market integrity. Unauthorised CASPs must immediately cease onboarding new EU clients, refrain from opening new client relationships or accounts, and stop marketing activities and solicitation. The provision of services must be limited to actions necessary to sell or transfer crypto-assets, reallocate assets, or close positions. Custody of clients' crypto-assets can only continue for the period strictly necessary to complete an orderly exit. ESMA requires unauthorised CASPs to communicate clearly, promptly and repeatedly with clients about measures taken to safeguard their assets and wind-down plans, including a deadline by which residual positions would be closed automatically. Wind-down arrangements must comply with all relevant EU or national conduct laws and anti-money laundering and counter-terrorism financing (AML/CTF) obligations, including customer due diligence measures, transaction monitoring, and sanctions screening. ESMA also reminds CASPs established outside the EU that they cannot provide MiCA services to EU clients or solicit EU clients, including in a business-to-business context. ESMA and National Competent Authorities will coordinate monitoring of significant unauthorised cross-border CASPs to ensure they wind down without delay, focusing on client protection, financial stability and market integrity. Clients are invited to verify whether their provider is authorised under MiCA in the ESMA Register and transfer their crypto-assets to an authorised CASP or self-hosted wallet where necessary.

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European Securities and Markets Authority Issues Public Statement on Unauthorised Crypto-Asset Service Providers

On June 23, 2026, the European Securities and Markets Authority (ESMA) issued a public statement clarifying its expectations for unauthorised crypto-asset service providers (CASPs) to wind down activities following the end of Regulation (EU) 2023/1114 (Markets in Crypto-Assets Regulation – MiCA) transitional period on July 1, 2026. While many CASPs will have obtained authorisation by the deadline, ESMA recognises that other entities, including significant providers currently servicing European Union clients under national regimes, may not be authorised. ESMA expects unauthorised CASPs to take immediate steps to wind down their EU activities in an orderly manner while protecting investors and mitigating risks to market integrity. Unauthorised CASPs must immediately cease onboarding new EU clients, refrain from opening new client relationships or accounts, and stop marketing activities and solicitation. The provision of services must be limited to actions necessary to sell or transfer crypto-assets, reallocate assets, or close positions. Custody of clients' crypto-assets can only continue for the period strictly necessary to complete an orderly exit. ESMA also requires unauthorised CASPs to communicate clearly, promptly and repeatedly with clients about measures taken to safeguard their assets and wind-down plans, including a deadline by which residual positions would be closed automatically. ESMA also reminds CASPs established outside the EU that they cannot provide MiCA services to EU clients or solicit EU clients, including in a business-to-business context. ESMA and National Competent Authorities will coordinate monitoring of significant unauthorised cross-border CASPs to ensure they wind down without delay, focusing on client protection, financial stability and market integrity.
3267693 pc Jun 24, 2026 rghosh United Arab Emirates Central Bank of UAE horizon scanning
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Central Bank of UAE Imposes Financial Penalty of AED 20,000,000 on Foreign Bank Branch

On April 7, 2025, the Central Bank of the United Arab Emirates (CBUAE) imposed a financial penalty of AED 20,000,000 on a branch of a foreign bank. The CBUAE announcement did not specify the identity of the penalised institution or the regulatory violations that prompted the enforcement action. Financial penalties imposed by the CBUAE typically address breaches of banking regulations, anti-money laundering and counter-terrorism financing (AML/CTF) requirements, or other supervisory standards applicable to banks operating within the UAE. The substantial penalty amount indicates a significant compliance failure. Foreign bank branches operating in the UAE remain subject to CBUAE oversight and must comply with all applicable regulatory requirements, including those related to customer due diligence, transaction monitoring, and reporting obligations. The CBUAE enforces compliance through its regulatory framework governing licensed banks and financial institutions. This enforcement action demonstrates the regulator's commitment to maintaining the integrity of the UAE financial system and ensuring that all market participants, including foreign bank branches, adhere to established standards. REFERENCES: Central Bank of the United Arab Emirates. "CBUAE Imposes a Financial Penalty of AED 20,000,000 on a Branch of a Foreign Bank." April 7, 2025. https://www.cbuae.ae/

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Central Bank of the UAE Fines Foreign Bank AED20,000,000 for AML Violations

On June 24, 2026 the Central Bank of the UAE (CBUAE) announced its decision to impose a financial penalty of AED20,000,000 (approximately US$5,445,881) on a foreign bank for repeated failures in its anti-money laundering and combating the financing of terrorism (AML/CTF) framework. The CBUAE also imposed an individual penalty of AED300,000 (approximately US$81,688) on the Head of Compliance and Money Laundering Reporting Officer, pursuant to the provisions of the Federal Decree Law Regarding the Central Bank and Organization of Financial Institutions and Activities , and its amendments, due to his failure to fulfil his responsibilities and position functions.
3262927 pc Jun 23, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Sanctions Prince Group Transnational Criminal Organization and Related Entities

On June 23, 2026, the U.S. Department of the Treasury took coordinated action to disrupt the Prince Group Transnational Criminal Organization (Prince Group TCO), a Southeast Asia-based criminal enterprise targeting Americans through large-scale cyber-enabled fraud and scam operations. The Treasury's Office of Foreign Assets Control (OFAC) sanctioned nine individuals and 26 entities linked to Prince Group TCO, including leadership, investors in scam compounds, and front companies. In parallel, Treasury's Financial Crimes Enforcement Network (FinCEN) proposed amending its October 2025 Huione Group Final Rule to include H-Pay Service PLC and any successor entity, which served as a critical node for laundering proceeds of cyber heists and virtual currency investment scams used by Prince Group TCO. Treasury estimates that Americans lost at least $10 billion in 2024 to Southeast Asia-based scam operations, a 66 percent increase over the prior year. The most common schemes involve digital asset investment fraud, where perpetrators use text messages and false promises of romantic relationships to gain victims' trust before directing them to fraudulent investment platforms controlled by scammers. Prince Group TCO members own and operate scam compounds where coerced workers target U.S. and international victims. Today's action targets Hu Xiaowei, described as Prince Group TCO's "second-in-command," and his network of companies across the British Virgin Islands, Hong Kong, Singapore, Thailand, and the United Kingdom. The designations block all property and interests in property of designated persons within the United States or in U.S. persons' possession or control. These actions build on Treasury's October 2025 designation of Prince Group TCO and are taken pursuant to Executive Order 13581 ("Blocking Property of Transnational Criminal Organizations"), as amended. They further Treasury's implementation of President Trump's Executive Order 14390 of March 6, 2026, "Combating Cybercrime, Fraud, and Predatory Schemes Against American Citizens." FinCEN's Notice of Proposed Rulemaking is available for public comment within 30 days of publication in the Federal Register.

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US Department of the Treasury Takes Coordinated Sanctions and AML Action to Disrupt the Prince Group Transnational Criminal Organization

On June 23, 2026, the US Department of the Treasury took coordinated action to disrupt the Prince Group transnational criminal organization (TCO), a Southeast Asia-based criminal enterprise targeting Americans through large-scale cyber-enabled fraud and scam operations. This action builds on the Treasury's October 2025 designation of Prince Group and is taken pursuant to Executive Order 13581 ("Blocking Property of TCOs") and Executive Order 14390 ("Combating Cybercrime, Fraud and Predatory Schemes Against American Citizens"). As part of the action, the Treasury's Office of Foreign Assets Control (OFAC) sanctioned nine individuals and 26 entities linked to Prince Group, including its leadership, investors in scam compounds and front companies. The new sanctions designations block all US-based property of these targets and generally prohibit US individuals and entities from engaging in transactions with them, unless expressly authorized by OFAC. In parallel, the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a proposed rule to amend its October 2025 Huione Group final rule to include H-Pay Service PLC and any successor entity, which served as a critical node for laundering proceeds of cyber heists and virtual currency investment scams used by Prince Group. Interested parties may submit comments on the proposed rule until July 23, 2026 at this link .
3261449 gc Jun 23, 2026 prandeo Lithuania Parliament of the Republic of Lithuania gamblingcompliance
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Lithuania proposes revised customer identification requirements under AML Act for gambling operators

On June 23, 2026, the Lithuanian parliament proposed a draft law amending Article 9 of the Law on the Prevention of Money Laundering and Terrorist Financing, introducing revised customer identification and registration requirements for gambling operators. Under the proposal, gambling operators would be required to identify, verify and register customers when they deposit funds, receive winnings, acquire gambling instruments such as tokens or cards, or exchange such instruments for non-cash funds where the transaction exceeds €1,000, whether carried out as a single transaction or as several linked transactions. The obligation would not apply where the customer's identity and beneficial owner have already been established. The draft would also maintain the requirement for casinos to verify and register all customers entering casino premises. In addition, the amendment would revise the circumstances triggering customer due diligence by clarifying that identification and registration obligations apply where a customer acquires gambling instruments or exchanges them for non-cash funds in amounts exceeding €1,000 per day, or the equivalent amount in foreign currency. The proposed changes form part of Lithuania's anti-money laundering framework and are intended to clarify customer due diligence obligations applicable to gambling operators. If adopted, the law would enter into force on January 1, 2029.
3261450 gc Jun 23, 2026 prandeo Lithuania Parliament of the Republic of Lithuania gamblingcompliance
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Lithuania's Parliament Registers Bill Amending Gaming Act With Responsible Gaming and Remote Gaming Provisions

On June 23, 2026, the Parliament of the Republic of Lithuania (Seimas) registered a bill (XVP-1690) proposing comprehensive amendments to the Gaming Act No. IX-325. The Ministry of Finance of the Republic of Lithuania and the Government of the Republic of Lithuania prepared the bill, which modifies multiple sections of the existing gaming legislation and introduces new regulatory provisions. The bill amends Articles 2, 3, 6, 7-2, 10, 10-4, 12, 13, 15, 15-1, 15-2, 16, 17, 18, 19, 20-1, 20-5, 20-7, and 20-8 of the Gaming Act. It supplements the act with new Articles 10-5 and 29-4, while repealing Articles 8, 8-1, 9, and 10-1. Key amendments address responsible gaming organisation, gaming machine control information systems, chip inventory procedures in casinos, gaming regulations, winnings payouts, and measures against illegal remote gaming operators. The bill introduces provisions on player card issuance and usage, establishing requirements for gaming venue premises and formalising supervisory authority directives. The amendments reflect evolving regulatory priorities in Lithuania's gaming sector, particularly concerning responsible gaming practices, technological controls for gaming machines, and enforcement against unlicensed remote gaming operations. The bill applies to all gaming operators, including those operating automated gaming machines, bingo halls, casinos, betting points, totalisator operations, and remote gaming providers. The Seimas Chancellery is processing the bill. Further parliamentary procedures will determine the timeline for debate and adoption of these amendments to the Gaming Act.

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Lithuania's parliament proposes comprehensive reform of gambling law and player protections

On June 23, 2026, the Parliament of the Republic of Lithuania published a draft law proposing extensive amendments to the Gambling Law that would significantly strengthen responsible gambling requirements, modernise supervisory powers and enhance measures against illegal gambling. Among the key proposals is the introduction of a mandatory player card system, which would be used to monitor player activity and enforce gambling limits across operators. The draft would also require gambling operators to implement comprehensive responsible gambling controls, including monitoring of player behaviour, problem gambling risk assessments and mandatory intervention measures where high-risk gambling activity is identified. The proposal introduces mandatory deposit, spending and time limits for players and would require operators to conduct affordability assessments. Players seeking monthly gambling limits of €20,000 or more would be required to provide documentation demonstrating their income and financial capacity. The draft also provides for a transition towards cashless gambling. Cash payments at gambling venues would be prohibited, with operators required to establish technical and organisational arrangements for non-cash transactions by January 1, 2029. Additional measures include strengthened powers for the Gambling Supervisory Authority to combat illegal gambling and illegal gambling advertising, expanded enforcement powers including control purchases, enhanced technical certification requirements for gambling equipment and platforms, revised licensing and permit procedures, and increased responsible gambling reporting obligations. Most provisions would enter into force on May 1, 2027, while the player card system, cashless gambling requirements and certain responsible gambling measures would apply from January 1, 2029.
3266804 pc Jun 23, 2026 pdonofrio Colombia SBC Noticias gamblingcompliance
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Rhode Island General Assembly Enacts HB 7867 and SB 3075: Standards for Non-Bank Mortgage Servicers

On June 23, 2026, the Rhode Island General Assembly enacted companion bills HB 7867 and SB 3075 , which together amend Chapter 19-14 of the Rhode Island General Laws regarding licensed activities for financial institutions. The new laws establish new corporate governance, capital and liquidity requirements for non-bank mortgage servicers operating within the state. Specifically, this authority applies to non-bank entities that service loans secured by residential real estate located in Rhode Island, including those that own the servicing rights but contract with a third party. Regarding operational standards, the laws stipulate that: Non-bank mortgage servicers must meet newly defined capital and liquidity minimums. Servicers are required to undergo independent audits and maintain robust risk management programs. Servicers must establish formal board oversight procedures to ensure ongoing compliance. Additionally, the laws clarify regulatory definitions related to financial institutions, including updated classifications involving virtual currency. The laws also maintain existing stipulations that its provisions apply strictly to loans owed or due for personal, family or household purposes. The laws take effect immediately .
3259697 pc Jun 23, 2026 arahman Russia Bank of Russia financial services
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Bank of Russia Will Annually Assess Digitalization and Convenience of Payment Services

On June 22, 2026, the Bank of Russia announced it will conduct annual assessments of the digitalization and convenience of payment services across the Russian payment market. This marks the first time the central bank has evaluated citizen and business satisfaction with payment services and calculated a digitalization index for the national payment system. The Bank of Russia developed a digitalization index as a comprehensive indicator of payment market development, incorporating 15 components including the penetration of new technologies, business interest in their adoption, the range and accessibility of payment services, and the security and reliability of infrastructure. The index uses data from market participants and results from business surveys. The 2025 index value will serve as the baseline for measuring annual changes in the payment market. Satisfaction assessments reveal that citizens are generally satisfied with modern payment services and instruments, particularly valuing fast and seamless payment methods requiring minimal actions. However, citizens identified utility bill payments, educational services, and government services payments as insufficiently convenient, as these require entering full card details and confirming transactions with codes. Business satisfaction ratings proved more reserved, with settlement and cash services receiving relatively low satisfaction scores. Businesses cited unclear tariff policies, opaque bank criteria for blocking or restricting transfers, and difficulties making payments to foreign counterparties as key concerns. The Bank of Russia plans to discuss these findings with market participants to develop measures aimed at improving service convenience and quality, and enhancing transparency of conditions for both citizens and businesses. These annual assessments will supplement existing payment market indicators including the share of cashless payments in retail turnover and alternative payment methods.

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Central Bank of Russia Announces Annual Evaluation of Digitalisation and Convenience of Payment Services

On June 22, 2026, the Central Bank of Russia (CBR) announced it will conduct annual assessments of the digitalisation and convenience of payment services across the Russian payment market. This marks the first time the central bank has evaluated citizen and business satisfaction with payment services and calculated a digitalisation index for the national payment system. The CBR developed a digitalisation index as a comprehensive indicator of payment market development, incorporating 15 components including the penetration of new technologies, business interest in their adoption, the range and accessibility of payment services, and the security and reliability of infrastructure. The index uses data from market participants and results from business surveys. The 2025 index value will serve as the baseline for measuring annual changes in the payment market. Satisfaction assessments reveal that citizens are generally satisfied with modern payment services and instruments, particularly valuing fast and seamless payment methods requiring minimal actions. The CBR plans to discuss these findings with market participants to develop measures aimed at improving service convenience and quality, and enhancing transparency of conditions for both citizens and businesses. These annual assessments will supplement existing payment market indicators including the share of cashless payments in retail turnover and alternative payment methods.
3258604 pc Jun 23, 2026 csoo United Kingdom Competition and Markets Authority horizon scanning
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United Kingdom HM Treasury Issues Money Laundering Advisory Notice on High-Risk Third Countries

On June 19, 2026, HM Treasury published an advisory notice updating the list of high-risk third countries (HRTCs) under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The notice advises UK regulated businesses on enhanced customer due diligence (CDD) obligations in relation to jurisdictions identified by the Financial Action Task Force (FATF) as having strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CTF) regimes. Under Regulation 33 of the MLRs, relevant persons must apply enhanced CDD and enhanced ongoing monitoring to business relationships with persons established in HRTCs, and to relevant transactions where either party is established in an HRTC. HRTCs are defined as countries appearing on the FATF's "High-Risk Jurisdictions subject to a Call for Action" or "Jurisdictions Under Increased Monitoring" lists. The FATF updates these lists three times annually following Plenary meetings in February, June, and October. The advisory notice identifies 28 jurisdictions under increased monitoring and three jurisdictions subject to a call for action: the Democratic People's Republic of Korea, Iran, and Myanmar. Of these, ten jurisdictions are also subject to UK financial sanctions measures, requiring firms to implement additional compliance measures. HM Treasury emphasises that relevant persons should apply a risk-based approach to enhanced due diligence, proportionate to identified risks, and should refer to sector-specific guidance for further compliance advice. The Money Laundering and Terrorist Financing (Amendment) Regulations 2026, laid before Parliament on March 25, 2026, narrows the scope of mandatory enhanced due diligence to only the "High-Risk Jurisdictions subject to a Call for Action" list, effective June 30, 2026. Relevant persons will continue considering FATF mutual evaluations as a geographical risk factor under Regulation 33(6)(c). This notice supersedes all previous HM Treasury advisory notices on this subject.

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United Kingdom HM Treasury Issues Money Laundering Advisory Notice on High-Risk Third Countries

On June 19, 2026, HM Treasury published an advisory notice updating the list of high-risk third countries (HRTCs) under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The notice advises UK regulated businesses on enhanced customer due diligence (CDD) obligations in relation to jurisdictions identified by the Financial Action Task Force (FATF) as having strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CTF) regimes. Under Regulation 33 of the MLRs, relevant persons must apply enhanced CDD and enhanced ongoing monitoring to business relationships with persons established in HRTCs, and to relevant transactions where either party is established in an HRTC. HRTCs are defined as countries appearing on the FATF's "High-Risk Jurisdictions subject to a Call for Action" or "Jurisdictions Under Increased Monitoring" lists. The FATF updates these lists three times annually following Plenary meetings in February, June, and October. The advisory notice identifies 28 jurisdictions under increased monitoring and three jurisdictions subject to a call for action: the Democratic People's Republic of Korea, Iran, and Myanmar. Of these, ten jurisdictions are also subject to UK financial sanctions measures, requiring firms to implement additional compliance measures. HM Treasury emphasises that relevant persons should apply a risk-based approach to enhanced due diligence, proportionate to identified risks, and should refer to sector-specific guidance for further compliance advice. The Money Laundering and Terrorist Financing (Amendment) Regulations 2026, laid before Parliament on March 25, 2026, narrows the scope of mandatory enhanced due diligence to only the "High-Risk Jurisdictions subject to a Call for Action" list, effective June 30, 2026. Relevant persons will continue considering FATF mutual evaluations as a geographical risk factor under Regulation 33(6)(c). This notice supersedes all previous HM Treasury advisory notices on this subject.
3263952 pc Jun 23, 2026 arahman North Macedonia Assembly of the Republic of North Macedonia – Materials (inc. draft laws) horizon scanning
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North Macedonia's Assembly Advances Draft Law on Electronic Communications and Postal Services

The Assembly of the Republic of North Macedonia is advancing draft legislation concerning electronic communications and postal services. The material has been registered within the Assembly's e-parliament system, indicating it is under consideration as part of the legislative process. This draft law represents a significant development in North Macedonia's regulatory framework for the electronic communications and postal sectors. Such legislation typically addresses the licensing, operation, and oversight of telecommunications providers and postal operators, establishing standards for service delivery, consumer protection, and infrastructure development. The advancement of this draft through the Assembly suggests the government is prioritising updates to these regulatory frameworks, which may reflect evolving market conditions, technological developments, or alignment with international standards and obligations. The draft law will require review and approval by the Assembly before it can proceed to adoption. Further details regarding the specific provisions, scope of application, and implementation timeline will become available as the legislative process progresses. Stakeholders in the electronic communications and postal services sectors should monitor the Assembly's proceedings for updates on this legislation, including any public consultation periods or scheduled debates that may provide opportunities for input or clarification on the proposed amendments. REFERENCES: Assembly of the Republic of North Macedonia – E-parliament Materials Portal

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North Macedonia Publishes Draft Law on Financial Leasing

On June 23, 2026, the North Macedonian Government published the Draft Law on Financial Leasing. The draft law aims to modernise North Macedonia's leasing framework by replacing the existing law with clearer rules on the establishment, operation and supervision of financial leasing providers. It responds to identified gaps in the current regime, including corporate governance, oversight, transparency, user protection and insufficiently precise reputation requirements for founders and management bodies. It also support the Reform Agenda goal of promoting leasing as an alternative financing tool. The draft introduces fit and proper criteria in line with MONEYVAL recommendations, strengthening anti-money laundering safeguards and the integrity of leasing providers. Its key provisions cover licensing and operating conditions, management suitability and reputation requirements, financial leasing agreements, registeres, enhanced Ministry of Finance supervision and sanctions for violations.
3259180 pc Jun 23, 2026 csoo Ireland Central Bank of Ireland horizon scanning
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Central Bank of Ireland Launches Consultation on Regulatory Impact Assessment and Stakeholder Engagement Approach

On June 22, 2026, the Central Bank of Ireland launched a public consultation seeking views on its approach to Regulatory Impact Assessment (RIA) and stakeholder consultation. The consultation forms part of the Central Bank's work to deliver a more effective and efficient regulatory framework, building on its recent supervisory approach and roadmap of regulatory initiatives. The Central Bank aims to ensure that regulation remains clear, coherent, and proportionate while continuing to support protections and resilience in the financial system. Governor Gabriel Makhlouf said the consultation reflects the Central Bank's commitment to strengthening its policy development process by setting out more clearly and consistently how it weighs evidence, assesses costs and impacts, and reaches judgements. The consultation seeks to ensure that regulation is well-founded and well understood by bringing together evidence, analysis, and stakeholder perspectives in a structured and proportionate way. The Central Bank is interested in hearing from stakeholders across the financial system, including industry, civil society and consumer representatives, the public, policymakers, and peer institutions. The Governor emphasized that effective institutions should be willing to challenge themselves, review their approaches, and adapt as circumstances evolve, and that good policymaking extends beyond the initial decision to include implementation and outcomes assessment. Submissions are welcomed through the dedicated online submission form, by email, or in writing. The deadline for submissions is September 30, 2026. The Central Bank will consider all submissions received and will publish a feedback statement in due course. **Reference:** Central Bank of Ireland Press Release, June 22, 2026: https://www.centralbank.ie/news/article/central-bank-launches-consultation-on-evolving-regulation

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Ireland's Central Bank Consults on Regulatory Impact Assessment and Stakeholder Engagement Approach

On June 22, 2026, the Central Bank of Ireland launched a consultation (CP 170) seeking views on its approach to Regulatory Impact Assessment (RIA) and stakeholder consultation. The consultation forms part of the Central Bank's work to deliver a more effective and efficient regulatory framework. In particular, this paper seeks feedback on: A draft Statement of Approach to Regulatory Impact Assessment. This element of sets out how the Central Bank proposes to assess regulatory interventions, including identifying problems, considering options and evaluating potential impacts. A proposed updated approach to public consultation. is reflects current practices and emerging thinking on how consultation can most effectively support policy development. Feedback on this section will inform an update of the Bank's consultation policy to be published in due course. The remainder of this consultation paper is structured as follows: Chapter 2 sets out the rationale for consulting on these matters and explains how the two elements are connected. Chapter 3 presents the draft Statement of Approach to RIA. Chapter 4 outlines the proposed approach to public consultation. Chapter 5 contains the consultation questions. Chapter 6 provides information on how to make a submission. The deadline for this consultation is September 30, 2026, and responses can be made through the online form or by email to stakeholderengagement@centralbank.ie with the following subject heading "Consultation Paper 170 – Approach to RIAs and Consultations".
3255992 pc Jun 23, 2026 csoo Ireland House of the Oireachtas horizon scanning
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Ireland's House of the Oireachtas Introduces Regulation of Artificial Intelligence Bill

On June 19, 2026, the House of the Oireachtas introduced the Regulation of Artificial Intelligence Bill 2026 (Bill 69 of 2026), sponsored by the Minister for Enterprise, Tourism and Employment. The bill establishes a new body called Oifig IS na hÉireann (the Irish AI Office) and transposes the European Union's Artificial Intelligence Act (Regulation (EU) 2024/1689) into Irish law. The bill amends four existing pieces of Irish legislation to facilitate AI regulation: the Central Bank Act 1942, the Communications Regulation Act 2002, the Competition and Consumer Protection Act 2014, and the Freedom of Information Act 2014. The EU Artificial Intelligence Act, adopted on June 13, 2024, establishes harmonised rules across the EU on artificial intelligence and amends multiple related regulations and directives covering sectors including transport, aviation, and consumer protection. The bill is currently at First Stage in Dáil Éireann (the lower house of the Irish parliament), where it was initiated on June 19, 2026. The legislative process will proceed through five stages in Dáil Éireann, followed by five stages in Seanad Éireann (the upper house), before final enactment by the President. The bill text and explanatory memorandum are available on the Houses of the Oireachtas website. The next stage in the legislative process is Second Stage in Dáil Éireann, where the general principles of the bill will be debated, though no date has been scheduled. REFERENCES: Houses of the Oireachtas. Regulation of Artificial Intelligence Bill 2026 (Bill 69 of 2026). Available at: https://www.oireachtas.ie/

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Ireland's Parliament Introduces Regulation of Artificial Intelligence Bill

On June 19, 2026, the House of the Oireachtas introduced the Regulation of Artificial Intelligence (AI) Bill 2026 (Bill 69 of 2026). The bill establishes a new body called the Oifig IS na hÉireann (the Irish AI Office) and transposes the European Union's Artificial Intelligence Act (Regulation (EU) 2024/1689) into Irish law. The EU AI Act, adopted on June 13, 2024, establishes harmonised rules across the EU on artificial intelligence covering areas such as the testing and supervision of high-risk AI systems, data protection and the creation of an AI register. The bill amends four existing pieces of Irish legislation to facilitate AI regulation: the Central Bank Act 1942 . the Communications Regulation Act 2002 . the Competition and Consumer Protection Act 2014 . the Freedom of Information Act 2014 . The bill is currently at First Stage in Dáil Éireann (the lower house of the Irish parliament), where it was initiated on June 19, 2026. The legislative process will proceed through five stages in Dáil Éireann, followed by five stages in Seanad Éireann (the upper house), before final enactment by the President.
3262931 pc Jun 23, 2026 arahman Slovakia Gazette - National Bank of Slovakia horizon scanning
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Slovakia's National Bank of Slovakia Determines Annual Contributions and Special Levies for Financial Market Supervisees in 2027

On June 8, 2026, the National Bank of Slovakia (NBS) issued Decision No. 7/2026 determining annual contributions and special levies payable by supervised financial market entities for 2027. The decision was published in the NBS Gazette on June 23, 2026. Annual contributions are mandatory payments owed by all supervised financial market entities that hold authorization or other permission to conduct financial market activities. These include banks, insurance companies, investment firms, payment institutions, crypto-asset service providers, loan servicers, and various other financial intermediaries. The contribution amounts are calculated based on asset volumes, with tiered percentage rates applied to different asset brackets. For example, banks with assets up to EUR 5,000,000 pay a minimum of EUR 1,000, while those with assets exceeding EUR 20,000,000 pay EUR 2,996,880 plus 0.0113 percent of assets above that threshold. Insurance companies, pension fund administrators, investment management companies, and other entity types have separate contribution schedules with varying rates. Special levies are imposed on supervised entities for each final administrative decision issued by the NBS in 2026 finding violations of consumer financial protection requirements. These levies are calculated as one percent of the entity's annual contribution, with minimum amounts of EUR 1,000 or EUR 50 depending on contribution calculation method, capped annually at five percent of the annual contribution. Contributions are payable in quarterly installments or as lump sums depending on amount, with payment deadlines beginning January 20, 2027. The NBS will issue individual notifications to each supervised entity detailing calculated amounts. Entities must remit payments to the NBS account with specific payment symbols corresponding to their entity type. The decision becomes effective January 1, 2027, and supersedes the previous 2026 contribution decision.

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Slovakia Publishes Decision on Annual Fees by Supervised Financial Market Entities

On June 23, 2026, Slovakia published the Decision No. 7/2026 determining annual contributions and special levies payable by supervised financial market entities for 2027 in the official gazette. Annual contributions are mandatory payments owed by all supervised financial market entities that hold authorization or other permission to conduct financial market activities. These include banks, investment firms, payment institutions, crypto-asset service providers, loan servicers, and various other financial intermediaries. The contribution amounts are calculated based on asset volumes, with tiered percentage rates applied to different asset brackets. The listed fees apply to: Banks or foreign branches of banks. Investment firms, including management firms. Securities dealers. Limited scope electronic money institutions. Electronic money institutions. Limited scope payment institutions. Payment institutions. Lending providers. Account information service providers. This decision shall take effect on June 23, 2026 and apply from January 1, 2027.
3262375 pc Jun 23, 2026 tojuri International Financial Action Task Force financial services
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Financial Action Task Force Updates Recommendation 6 to Support Humanitarian Financial Services Access

On June 23, 2026, the Financial Action Task Force (FATF) updated Recommendation 6 of its standards on targeted financial sanctions related to terrorism and terrorist financing. The update strengthens protections for humanitarian activities by requiring countries to comply with humanitarian exemptions contained in United Nations Security Council Resolutions (UNSCRs) 2664, 2761, and 2615. Recommendation 6 requires countries to implement targeted financial sanctions in compliance with UNSCRs relating to the prevention and suppression of terrorism and terrorist financing. The revised standards ensure that sanctions measures do not obstruct the flow of funds, assets, resources, goods, and services necessary for humanitarian assistance and basic human needs in line with the UN framework. This update reflects the FATF's commitment to balancing counter-terrorism objectives with the timely delivery of humanitarian aid. FATF President Elisa de Anda Madrazo said the revisions align counter-terrorism measures with UN frameworks, enabling both security objectives and humanitarian assistance to be upheld effectively. The updates form part of the FATF's broader strategy to mitigate unintended consequences caused by the misapplication of anti-money laundering and counter-terrorism financing measures. The FATF continues to promote a risk-based approach to combating financial crime while ensuring legitimate humanitarian operations can proceed without unnecessary obstruction. Countries should review the updated FATF Recommendations and implement the revised Recommendation 6 to align their domestic targeted financial sanctions regimes with the humanitarian exemptions now required by the FATF standards. REFERENCES: https://www.fatf-gafi.org/en/publications/Fatf-recommendations.html

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1795 chars · nid 93418

Financial Action Task Force Updates Recommendation 6 to Support Humanitarian Financial Services Access

On June 23, 2026, the Financial Action Task Force (FATF) updated Recommendation 6 of its standards on targeted financial sanctions related to terrorism and terrorist financing. The update strengthens protections for humanitarian activities by requiring countries to comply with humanitarian exemptions contained in United Nations Security Council Resolutions (UNSCRs) 2664, 2761, and 2615. Recommendation 6 requires countries to implement targeted financial sanctions in compliance with UNSCRs relating to the prevention and suppression of terrorism and terrorist financing. The revised standards ensure that sanctions measures do not obstruct the flow of funds, assets, resources, goods, and services necessary for humanitarian assistance and basic human needs in line with the UN framework. This update reflects the FATF's commitment to balancing counter-terrorism objectives with the timely delivery of humanitarian aid. FATF President Elisa de Anda Madrazo said the revisions align counter-terrorism measures with UN frameworks, enabling both security objectives and humanitarian assistance to be upheld effectively. The updates form part of the FATF's broader strategy to mitigate unintended consequences caused by the misapplication of anti-money laundering and counter-terrorism financing measures. The FATF continues to promote a risk-based approach to combating financial crime while ensuring legitimate humanitarian operations can proceed without unnecessary obstruction. Countries should review the updated FATF Recommendations and implement the revised Recommendation 6 to align their domestic targeted financial sanctions regimes with the humanitarian exemptions now required by the FATF standards. REFERENCES: https://www.fatf-gafi.org/en/publications/Fatf-recommendations.html
3259284 pc Jun 23, 2026 tojuri Malta Malta Financial Services Authority horizon scanning
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I appreciate you providing the detailed instructions and style guide. However, I must note that the webpage content you've provided does not contain substantive information suitable for generating a horizon scanning update. The content appears to be a navigation menu and footer structure from the Malta Financial Services Authority (MFSA) website, with a page title referencing "Assessing Retail Consumers' Perceptions and Attitudes Towards Crypto-Assets" dated June 22, 2026, but no actual body content, findings, consultation details, or regulatory action is present. To generate a compliant horizon scanning update, I would need: - The actual consultation document, report, or announcement content - Key findings or proposals (if a report) - Specific regulatory actions or changes being proposed - Applicable dates (consultation periods, effective dates, etc.) - Details on who the update affects and why it matters **Could you please provide:** 1. The full text or substantive content from the MFSA webpage or linked document? 2. A direct link to the consultation or publication? 3. The actual report or announcement content? Once you supply the source material with substantive content, I will immediately generate a compliant horizon scanning update following all the specifications and style guidelines you've outlined.

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Malta Financial Services Authority Publishes Report on Assessment of Retail Consumers' Perceptions and Attitudes Towards Crypto-Assets

The Malta Financial Services Authority (MFSA) has published its findings from its research project into retail consumers’ perceptions and attitudes towards crypto-assets. The research was conducted to assist the MFSA in enhancing its understanding of consumers’ understanding and awareness of crypto-assets. The main objectives of the research were to: Measure general consumers’ understanding of crypto-assets and their perceived benefits and risks. Understand whether the public is aware of the different types of crypto-assets and their potential uses. Gain insights into retail investors’ expectations regarding transparency, security, and regulatory oversight in the crypto-asset market. Reveal what may be drivers or barriers to purchasing or holding crypto-assets. The report presents a summary of the MFSA’s key findings, which are that: 25 percent of the respondents primarily associate crypto-assets with digital instruments. Very few respondents are confident in their understanding of the underlying technology of crypto-assets; many express interest in learning more. Respondents report high awareness of both the risks and the benefits of crypto-assets. The majority of respondents consider a lack of knowledge to be a barrier to purchasing and holding crypto-assets. Overall, the research revealed that crypto-assets overcome traditional gender and age barriers in finance, and respondents expressed strong enthusiasm for future advancements and innovations. The MFSA acknowledges that the relevant stakeholders, including crypto-asset service providers, have a fundamental role to play in bridging the gap in consumer education. Industry players are encouraged to utilise the insights provided in the report to design financial products and services that are transparent and tailored to the needs and knowledge levels of their target markets, and to provide their clients with information on the risks of scams and how to avoid them.
3263343 gc Jun 23, 2026 apintea Spain Ministry Of Social Rights, Consumption and 2030 Agenda - News gamblingcompliance
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Spain's Ministry of Social Rights Approves Joint Deposit Limits System for Online Gambling Players

On June 23, 2026, Spain's Council of Ministers approved a Royal Decree introducing a joint deposit limits system for online gambling players, proposed by the Ministry of Social Rights, Consumption and 2030 Agenda. The new regulation replaces the previous system where deposit limits were set independently by each operator, allowing players to circumvent intended spending caps by distributing activity across multiple platforms. Under the new framework, the General Directorate for Gambling Regulation (Dirección General de Ordenación del Juego) will manage a system establishing global deposit limits per person across all operators where an individual holds an account. The default limits are set at €700 daily, €1,750 weekly, and €3,300 per four-week period. Players may voluntarily modify or remove these limits through a specific procedure with enhanced information safeguards regarding gambling risks. The system addresses a significant gap in player protection: approximately one-third of active Spanish online gambling players (31 percent) operate accounts across multiple operators. The joint limits system complements existing per-operator deposit restrictions and represents an additional preventive tool against problem gambling. The General Directorate for Gambling Regulation will develop technological infrastructure to verify real-time compliance with limits, eliminating unnecessary information exchanges between operators while strengthening personal data protection. The regulation also updates technical aspects of online gambling regulation and requires operators to provide enhanced information to users about available responsible gambling tools. Implementation of this joint deposit limits system reflects Spain's commitment to centering player protection in gambling regulation and promoting safer, more responsible gaming environments. REFERENCES: Ministry of Social Rights, Consumption and 2030 Agenda. "El Gobierno aprueba un nuevo sistema de límites conjuntos de depósito para reforzar la seguridad de los jugadores online." June 23, 2026. https://www.mscbs.gob.es/

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1814 chars · nid 51607

Spain's government approves joint deposit limits for online gambling

On June 23, 2026, Spain's Council of Ministers approved a Royal Decree introducing a joint deposit limits system for online gambling, proposed by the Ministry of Social Rights, Consumption and 2030 Agenda. The new regulation improves the previous system where deposit limits were set independently by each operator, allowing players to circumvent intended spending caps by distributing activity across multiple platforms. Under the new framework, the General Directorate for Gambling Regulation will manage a system establishing global deposit limits per person across all operators where an individual holds an account. The default limits are set at €700 daily, €1,750 weekly, and €3,300 per four-week period. Players may voluntarily modify or remove these limits through a specific procedure with enhanced information safeguards regarding gambling risks. The system addresses a significant gap in player protection: approximately one-third of active Spanish online gambling players (31 percent) operate accounts across multiple operators. The joint limits system complements existing per-operator deposit restrictions and represents an additional preventive tool against problem gambling. The General Directorate for Gambling Regulation will develop technological infrastructure to verify real-time compliance with limits, eliminating unnecessary information exchanges between operators while strengthening personal data protection. The regulation also updates technical aspects of online gambling regulation and requires operators to provide enhanced information to users about available responsible gambling tools. Implementation of this joint deposit limits system reflects Spain's commitment to centering player protection in gambling regulation and promoting safer, more responsible gaming environments.
3263731 pc Jun 23, 2026 arahman Russia Bank of Russia financial services
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Russia's Bank of Russia Announces Expanded Mortgage Payment Holiday Eligibility for Borrowers with Multiple Children

On June 23, 2026, the Bank of Russia announced that the State Duma has adopted legislation expanding eligibility for mortgage payment holidays (ипотечные каникулы). Borrowers who have given birth to or adopted a second child, or subsequent children, now qualify for this relief measure on an additional basis. Under the new framework, borrowers with two or more children can access mortgage payment holidays for up to 18 months, compared to the six-month maximum available under other eligibility grounds. During the holiday period, creditors cannot charge penalties, fines, or late fees, nor can they enforce foreclosure proceedings or pursue guarantors. However, from the seventh to the eighteenth month of the holiday period, borrowers may face increased costs on their loan agreements. The legislation aims to support households experiencing temporary financial difficulties while mitigating financial stability risks for lending institutions. The measure applies retroactively to mortgage agreements concluded before the effective date. The law enters into force on September 1, 2026. Borrowers meeting the eligibility criteria—including those with existing mortgage agreements—can apply for this relief once the legislation takes effect. The Bank of Russia will oversee implementation of this expanded mortgage holiday programme across Russian lending institutions.

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1072 chars · nid 93446

Central Bank of Russia Announces State Duma Passes Mortgage Holiday Law

On June 23, 2026, the Bank of Russia announced that the State Duma has adopted legislation expanding eligibility for mortgage payment holidays. Borrowers who have given birth to or adopted a second child, or subsequent children, now qualify for this relief measure on an additional basis. Under the new framework, borrowers with two or more children can access mortgage payment holidays for up to 18 months, compared to the six-month maximum available under other eligibility grounds. During the holiday period, creditors cannot charge penalties, fines, or late fees, nor can they enforce foreclosure proceedings or pursue guarantors. However, from the seventh to the eighteenth month of the holiday period, borrowers may face increased costs on their loan agreements. The legislation aims to support households experiencing temporary financial difficulties while mitigating financial stability risks for lending institutions. The measure applies retroactively to mortgage agreements concluded before the effective date. The law enters into force on September 1, 2026.
3263786 pc Jun 23, 2026 arahman Sweden Central Bank (Riksbank) horizon scanning
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Sweden's Central Bank Begins Negotiations on T2S Platform for Securities Settlement

On June 23, 2026, Sweden's Central Bank (Riksbank) announced it has decided to enter into contract negotiations with the Eurosystem regarding the use of the T2S platform for the settlement of securities denominated in Swedish kronor. Euroclear Sweden AB, the Swedish securities central depository, will also initiate contract negotiations with the Eurosystem and conduct preparatory work ahead of the transition to T2S. The Riksbank made a strategic decision in 2021 to migrate to the Eurosystem's securities settlement platform. The migration aims to align Swedish securities settlement with harmonised technical solutions and standardised processes across the European Union, creating more uniform flows for participating markets. T2S is the Eurosystem's technical platform for securities settlement and has been operational since 2015, currently used by 24 connected securities central depositories from 23 countries. Presently, securities are settled in either euros or Danish kronor on T2S, though the platform is designed to accommodate additional currencies. Christina Wejshammar, chief of the Payments Department at the Riksbank, said the T2S platform represents the most appropriate way to ensure the Swedish securities market remains harmonised with the rest of Europe over time. The platform facilitates operations for banks and other market participants active across multiple markets and maintains high levels of cybersecurity and operational redundancy. The transition to the T2S platform is planned for completion in September 2030 and will be conducted in collaboration with Euroclear Sweden AB. The Riksbank has published a decision document and an in-depth analysis of the T2S platform to support this migration.

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Sweden's Central Bank Begins Negotiations on T2S Platform for Securities Settlements

On June 23, 2026, Sweden's Central Bank (Riksbank) announced it has decided to enter into contract negotiations with the Eurosystem regarding the use of the T2S platform for the settlement of securities denominated in Swedish kronor. Euroclear Sweden AB, the Swedish securities central depository, will also initiate contract negotiations with the Eurosystem and conduct preparatory work ahead of the transition to T2S. The Riksbank made a strategic decision in 2021 to migrate to the Eurosystem's securities settlement platform. The migration aims to align Swedish securities settlement with harmonised technical solutions and standardised processes across the European Union, creating more uniform flows for participating markets. T2S is the Eurosystem's technical platform for securities settlement and has been operational since 2015, currently used by 24 connected securities central depositories from 23 countries. Presently, securities are settled in either euros or Danish kronor on T2S, though the platform is designed to accommodate additional currencies. Christina Wejshammar, chief of the Payments Department at the Riksbank, said the T2S platform represents the most appropriate way to ensure the Swedish securities market remains harmonised with the rest of Europe over time. The platform facilitates operations for banks and other market participants active across multiple markets and maintains high levels of cybersecurity and operational redundancy. The transition to the T2S platform is planned for completion in September 2030 and will be conducted in collaboration with Euroclear Sweden AB.
3263794 pc Jun 23, 2026 arahman Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank Revokes Financial Company License for Inspection Refusal

On June 23, 2026, the National Bank of Ukraine (NBU) revoked the financial services license held by LLC "FC SOLID GROUP" (registration number 43450984). The NBU's Committee on Supervision and Regulation of Non-Banking Financial Services Markets approved this decision on June 22, 2026. The license revocation followed the company's refusal to cooperate with an unscheduled inspection conducted by the NBU in May 2026. During the inspection attempt, the NBU established that the company failed to provide an authorized representative on the first day of the inspection, preventing the inspection from proceeding. This refusal to permit inspection constituted grounds for applying an enforcement measure under Ukraine's Law on Financial Services and Financial Companies and the NBU's Regulation on Corrective Measures, Early Intervention Measures, and Enforcement Measures in the Non-Banking Financial Services Markets, approved by NBU Board Resolution No. 183 of December 25, 2023. The revoked license covered financial services including factoring and provision of funds and banking metals on credit. Following license revocation, LLC "FC SOLID GROUP" loses the right to conduct financial services activities. However, the company remains obligated to fulfill its existing contractual obligations with customers regarding previously provided financial services. According to Article 56 of Ukraine's Law on the National Bank of Ukraine, administrative acts adopted by the NBU take effect from the date they are officially communicated through methods established by Ukraine's Law on Administrative Procedure. The effective date is the date the notice is sent by post. REFERENCES: National Bank of Ukraine. "Фінансовій компанії відкликано ліцензію" [Financial Company License Revoked]. June 23, 2026. Available at: https://www.bank.gov.ua/

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National Bank of Ukraine Revokes Licence of Solid Group for Conduct of Business Violations

On June 23, 2026, the National Bank of Ukraine (NBU) revoked the financial services license held by Solid Group. The NBU's Committee on Supervision and Regulation of Non-Banking Financial Services Markets approved this decision on June 22, 2026. The license revocation followed the company's refusal to cooperate with an unscheduled inspection conducted by the NBU in May 2026. During the inspection attempt, the NBU established that the company failed to provide an authorized representative on the first day of the inspection, preventing the inspection from proceeding. This refusal to permit inspection constituted grounds for applying an enforcement measure under Ukraine's Law on Financial Services and Financial Companies and the NBU's Regulation on Corrective Measures, Early Intervention Measures, and Enforcement Measures in the Non-Banking Financial Services Markets, approved by NBU Board Resolution No. 183 of December 25, 2023. The revoked license covered financial services including factoring and provision of funds and banking metals on credit. Following license revocation, Solid Group loses the right to conduct financial services activities. However, the company remains obligated to fulfill its existing contractual obligations with customers regarding previously provided financial services.
3259732 pc Jun 23, 2026 tojuri Greece Consultations - Open Government horizon scanning
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Greece's Ministry of Digital Governance Launches Public Consultation on Artificial Intelligence Regulation Implementation

On June 21, 2026, Greece's Ministry of Digital Governance launched a public electronic consultation on a draft law implementing Regulation (EU) 2024/1689 of the European Parliament and Council on artificial intelligence (AI Regulation). The consultation, conducted through Greece's Open Government platform, seeks public input on proposed measures to transpose the EU AI Regulation into Greek law. The draft law aims to amend Law 4961/2022 and introduce additional provisions necessary to implement the EU AI Regulation framework within Greece's legal system. The AI Regulation, adopted by the European Parliament and Council on June 13, 2024, establishes a risk-based approach to AI systems, setting requirements for high-risk AI applications, transparency obligations, and governance structures. The Greek implementation will align national legislation with these EU-wide requirements, ensuring compliance across public and private sectors operating within Greece's jurisdiction. The consultation enables stakeholders, including government bodies, private enterprises, civil society organisations, and individual citizens, to review the proposed legislative measures and submit comments. This public engagement process forms part of Greece's Open Government Partnership commitments to enhance transparency and democratic participation in policymaking. The consultation platform tracks engagement metrics, with the Open Government initiative reporting 1,263 total consultations, 429,268 comments submitted, and participation across multiple government ministries and regional authorities. Stakeholders wishing to participate in the consultation should submit their responses through Greece's Open Government portal. The specific deadline for comment submission and the expected publication date for consultation responses should be confirmed through the official Open Government website.

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Greek Government Launches Public Consultation on Artificial Intelligence Regulation Implementation

On June 21, 2026, Greece's Ministry of Digital Governance launched a public consultation on a draft law implementing Regulation (EU) 2024/1689 on artificial intelligence (AI Regulation). The draft law aims to amend Law 4961/2022 and introduce additional provisions necessary to implement the AI Regulation framework within Greece's legal system. The AI Regulation establishes a risk-based approach to AI systems, setting requirements for high-risk AI applications, transparency obligations and governance structures. The Greek implementation will align national legislation with these EU-wide requirements, ensuring compliance across public and private sectors operating within Greece's jurisdiction. Stakeholders are invited to submit comments and feedback on the draft legislation through the consultation portal by July 6, 2026.
3263793 pc Jun 23, 2026 arahman Ukraine National Bank of Ukraine (NBU) horizon scanning
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Ukraine's National Bank Applies Enforcement Measures Against Ukrainian Post Joint Stock Company

On June 23, 2026, the National Bank of Ukraine (NBU) applied enforcement measures against Ukrainian Post Joint Stock Company (AT "UKRPOSHTA"), a payment service provider. The NBU's Oversight Committee for Banking Supervision and Payment Infrastructure Regulation adopted these measures on June 22, 2026, following a scheduled inspection conducted by the NBU's Inspection Department between November 2025 and January 2026. The enforcement action comprises two components. First, the NBU imposed a fine of 2,544.9 thousand Ukrainian hryvnia (UAH) for violations of Ukraine's Payment Services Law and related regulations governing cash operations, payment instrument issuance and acquiring, payment service provider confidentiality requirements, and consumer protection requirements during payment service provision. Second, the NBU issued a written warning for violations of capital adequacy requirements for non-bank payment service providers, statistical reporting obligations, financial service provider authorization requirements, and governance system requirements. The violations identified relate to multiple regulatory instruments, including the Payment Services Law, the NBU Board Resolution No. 103 of September 25, 2018 on cash operations procedures, NBU Board Resolution No. 147 of July 14, 2022 on confidentiality rules, NBU Board Resolution No. 164 of July 29, 2022 on payment instrument issuance and acquiring, and various other prudential and authorization regulations. AT "UKRPOSHTA" must pay the fine within 14 calendar days of notification. The company must also remediate all identified violations and implement measures to prevent future non-compliance by September 30, 2026. Both enforcement decisions take effect upon notification to AT "UKRPOSHTA".

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National Bank of Ukraine Issues UAH25.449m Fine to Ukrposhta for Consumer Protection Failures

On June 23, 2026, the National Bank of Ukraine (NBU) applied enforcement measures against Ukrposhta, a payment service provider. The NBU's Oversight Committee for Banking Supervision and Payment Infrastructure Regulation adopted these measures on June 22, 2026, following a scheduled inspection conducted by the NBU's Inspection Department between November 2025 and January 2026. A penalty in the form of a fine of UAH25.449m (approximately €498,000) for violation of the following requirements: Law of Ukraine “On Payment Services”. Instructions on the procedure for organising cash operations by banks and conducting payment transactions by payment service providers in Ukraine, approved by Resolution of the Board of the National Bank of Ukraine dated September 25, 2018 No. 103 (as amended). Rules for the storage, protection, use and disclosure of the secret of the payment service provider, approved by the resolution of the Board of the National Bank of Ukraine dated July 14, 2022 No. 147 (as amended). Regulations on the procedure for issuing and acquiring payment instruments , approved by Resolution of the Board of the National Bank of Ukraine dated July 29, 2022 No. 164 (as amended). A disciplinary measure in the form of a written warning was applied for violation of the following requirements: Law of Ukraine “On Payment Services”, Resolution of the Board of the National Bank of Ukraine dated 13.06.2025 No. 64 “On Some Issues of Determining the Regulatory Capital of Non-Bank Payment Service Providers”. Regulations on requirements for regulatory capital of non-bank payment service providers, approved by Resolution of the Board of the National Bank of Ukraine dated June 13, 2025 No. 64. Rules for organising statistical reporting submitted to the National Bank of Ukraine in a special period, approved by Resolution of the Board of the National Bank of Ukraine No. 140 dated December 18, 2018 (as amended). Rules for the organisation of statistical reporting submitted to the National Bank of Ukraine, approved by Resolution of the Board of the National Bank of Ukraine dated November 13, 2018 No. 120 (as amended). Regulations on establishing prudential standards that are mandatory for non-bank payment service providers to comply with and determining the methodology for their calculation, approved by the Resolution of the Board of the National Bank of Ukraine dated August 25, 2022 No. 190 (as amended), in the version effective on the date of the violation (expired on June 18, 2025). Regulations on the authorisation of financial service providers and the conditions for their activities in the provision of financial services, approved by the resolution of the Board of the National Bank of Ukraine dated December 29, 2023 No. 199 (as amended). Regulations on the procedure for authorising the activities of providers of financial payment services and limited payment services, approved by the Resolution of the National Bank of Ukraine dated October 7, 2022 No. 217 (as amended). Regulations on requirements for the management system of a provider of financial payment services, approved by Resolution of the Board of the National Bank of Ukraine dated October 10, 2024 No. 123 (as amended). Ukrposhta is obliged to eliminate the violations identified by September 30, 2026.
3259763 pc Jun 23, 2026 tojuri Malta Malta Financial Services Authority horizon scanning
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Malta Financial Services Authority Issues Terrorist Financing and Sanctions Evasion Guidance for Credit Institutions

On June 17, 2026, the Malta Financial Services Authority (MFSA) issued a thematic review letter addressing terrorist financing (TF), proliferation financing (PF), and targeted financial sanctions (TFS) evasion risks across Malta's credit institution sector. The letter, directed to management bodies and money laundering reporting officers of all MFSA-licensed credit institutions, presents findings from a comprehensive thematic exercise and establishes supervisory expectations for strengthening financial crime compliance frameworks. The MFSA conducted the review across all locally-incorporated banks and branches of foreign banks operating in Malta, using an electronic questionnaire covering six key areas: risk understanding and governance; identification and verification; transaction monitoring; sanctions screening; artificial intelligence deployment; and training and awareness. The review was informed by Malta's National Risk Assessment, which identifies the banking sector as highly exposed to TF, PF, and TFS evasion risks due to its central role in fund movement. Key findings reveal that while 57 percent of respondents assessed inherent TF risk at medium-high levels, proliferation financing controls remain under-prioritised, with only 71 percent maintaining formal PF risk assessments compared to 100 percent for counter-terrorism financing. Sanctions screening is predominantly automated and third-party enabled, with 67 percent relying on external providers. Artificial intelligence adoption remains limited, with only 15 percent of respondents actively deploying AI tools. The MFSA emphasises that credit institutions must strengthen governance over restrictive measures, enhance transaction monitoring capabilities to detect suspicious activity, ensure robust outsourcing arrangements for sanctions screening, and maintain meaningful human oversight of AI systems. The Authority expects entities to align frameworks with recent regulatory developments, including the European Banking Authority's Restrictive Measures Guidelines and the EU Instant Payments Regulation.

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Malta Financial Services Authority Issues Dear CEO Letter on Terrorist Financing and Sanctions Evasion for Credit Institutions

On June 22, 2026, the Malta Financial Services Authority (MFSA) issued a Dear CEO Letter addressing risks of terrorist financing (TF), proliferation financing (PF) and targeted financial sanctions (TFS) evasion across Malta's credit institution sector. The letter, addressed to management bodies and money laundering reporting officers at all MFSA-licensed credit institutions, presents findings from a comprehensive thematic exercise and sets out supervisory expectations to strengthen financial crime compliance frameworks. The MFSA conducted the review across all locally incorporated banks and branches of foreign banks operating in Malta, and it was informed by Malta's national risk assessment (NRA), which identifies the banking sector as highly exposed to TF, PF and TFS evasion risks due to its central role in the movement of funds. The letter sets out the MFSA’s key findings across six key areas, as well as its expectations of credit institutions operating in Malta: Risk understanding and governance - the MFSA found that many credit institutions are aligning their entity-level assessments with Malta’s NRA and making substantive use of it within their frameworks. The MFSA expects entities to keep this link current by periodically refreshing NRA-derived assumptions and to ensure that any such assessment and associated risk rating are updated periodically. The MFSA expects entities to keep this link current by periodically refreshing NRA-derived assumptions and to ensure that any such assessment and associated risk rating are updated periodically. Identification and verification - the MFSA found that the implementation of dedicated systems to detect forged and fake identification documents was consistent with the fact that the majority of credit institutions in Malta onboard customers through face-to-face interactions. The MFSA expects entities to ensure that, when considering the procurement and deployment of identity-verification systems and tools, the solution’s capabilities and assurance level are appropriate for their intended use, and that the authentication checks are sufficiently reliable to detect forged or fake documents. The MFSA expects entities to ensure that, when considering the procurement and deployment of identity-verification systems and tools, the solution’s capabilities and assurance level are appropriate for their intended use, and that the authentication checks are sufficiently reliable to detect forged or fake documents. Transaction monitoring - the MFSA found that transaction monitoring controls are in place, with variations reflecting the differing sizes, complexities, and business models of Maltese-licensed credit institutions. The majority of entities indicated that they screen payment messages prior to settlement. The MFSA expects entities to determine, on a proportionate and risk-sensitive basis, whether transaction monitoring is to be performed through an automated tool or via a hybrid approach. When an automated solution is deployed, entities must demonstrate governance and transparency regarding the scenarios, typologies, and detection rules in use. The MFSA expects entities to determine, on a proportionate and risk-sensitive basis, whether transaction monitoring is to be performed through an automated tool or via a hybrid approach. When an automated solution is deployed, entities must demonstrate governance and transparency regarding the scenarios, typologies, and detection rules in use. Sanctions screening - the MFSA found that across credit institutions, sanctions screening is automated and predominantly third-party-enabled, and that screening tools are either updated in real time or within 24-48 hours of an update to the lists screened against. The MFSA expects entities to evidence robust outsourcing governance and, when in place, to carry out regular compliance checks by the service provider, assess the effectiveness of the services covered by the agreement, and take any necessary mitigating measures. The MFSA expects entities to evidence robust outsourcing governance and, when in place, to carry out regular compliance checks by the service provider, assess the effectiveness of the services covered by the agreement, and take any necessary mitigating measures. Artificial intelligence deployment: the MFSA found that AI adoption within TF, PF, and TFS compliance frameworks remains limited and in its early stages across credit institutions. The MFSA expects entities that have deployed or are planning to deploy AI to demonstrate a clear understanding of the system’s design, functionality, and limitations, including how the system maintains an audit trail of alerts raised. The MFSA expects entities that have deployed or are planning to deploy AI to demonstrate a clear understanding of the system’s design, functionality, and limitations, including how the system maintains an audit trail of alerts raised. Training and awareness - the MFSA found that credit institutions reported delivering a comprehensive suite of annual, induction, and ongoing training through a blended approach that combined e-learning modules with in-person, instructor-led sessions. The board of directors and senior management are also provided with training on regulatory developments and the evolving financial crime risk landscape. The MFSA expects entities to maintain a risk-sensitive and role-specific training framework that ensures all employees receive ongoing, substantive training proportionate to their exposure to money-laundering and terrorist-financing risks. The MFSA expects entities to maintain a risk-sensitive and role-specific training framework that ensures all employees receive ongoing, substantive training proportionate to their exposure to money-laundering and terrorist-financing risks. The observations highlighted in the letter indicate that while a number of sound practices are already embedded, there remain aspects of TF, PF and TFS’ compliance frameworks which would benefit from further strengthening to ensure full alignment with supervisory expectations. The MFSA encourages Authorised Entities and MLROs to review the letter alongside other relevant guidance, such as the MFSA’s Guidance for MLROs in the Financial Services Secto r and the Financial Intelligence Analysis Unit’s issued guidance.
3259367 pc Jun 23, 2026 adavies Iceland Official Gazette financial services
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Iceland's Official Gazette Publishes Regulation Amending Iran Sanctions Measures

On June 22, 2026, Iceland's Official Gazette published Regulation 702/2026, which amends Regulation 384/2014 on sanctions measures concerning Iran. The regulation was signed on June 11, 2026, by Iceland's Ministry of Foreign Affairs and implements European Union sanctions decisions adopted on March 30, 2026. The regulation incorporates two key EU measures into Icelandic law. First, it references Council Decision (CFSP) 2026/762 of March 30, 2026, which modifies Council Decision 2010/413/CFSP on Iran sanctions. Second, it incorporates Council Regulation (EU) 2026/759 of March 30, 2026, which amends Regulation (EU) 267/2012 on Iran sanctions and repeals Regulation (EU) 961/2010. These EU measures reinstate sanctions against Iran related to nuclear matters, following the resumption of United Nations sanctions in accordance with UN Security Council Resolution 2231 (2015). The amendments update references to dual-use goods and technology controls, replacing outdated provisions from Council Regulation (EC) 428/2009 with references to Regulation (EU) 2021/821 on export controls for dual-use items. The regulation reimposes restrictions on the direct or indirect supply, sale, or transfer of dual-use goods and technology to Iran for use in or benefit to Iran. Member states must notify each other and the European Commission within four weeks regarding authorisations granted for specified dual-use products and technology. The regulation entered into force immediately upon publication. Sanctions lists identifying entities, items, technology, and other subjects of sanctions measures are published on the EU Official Journal website and the European Commission's sanctions portal, with updates automatically taking effect upon publication.

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324 chars · nid 93413

Icelandic Government Publishes Regulation Amending Iran Sanctions Measures

On June 22, 2026, the Icelandic government published Regulation 702/2026, which amends Regulation 384/2014 on sanctions measures concerning Iran . The regulation implements European Union sanctions decisions: Council Decision (EU) 2026/762. Council Regulation (EU) 2026/759. The regulation enters into force immediately.
3262804 pc Jun 23, 2026 rghosh South Africa Reserve Bank of South Africa horizon scanning
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South African Reserve Bank Develops Regulatory Framework for Cross-Border Payment Facilitators

On June 23, 2026, the South African Reserve Bank (SARB) announced it is developing a coordinated regulatory approach to address the increasing activity of cross-border payment facilitators (PFs) operating in South Africa. PFs aggregate and acquire payment transactions in South Africa on behalf of offshore merchants selling goods or services, including digital products. Although PFs operate under sponsorship arrangements with authorised domestic acquirers, they currently remain unregulated in South Africa. The SARB's National Payment System Department (NPSD) and Financial Surveillance Department (FinSurv) are jointly developing this coordinated approach to ensure consistent regulatory requirements and reduce regulatory arbitrage risks. PFs will be required to comply with the NPSD's regulatory requirements relating to their sponsorship arrangements for domestic acquiring, as well as FinSurv's application, operational, and compliance requirements. This coordinated framework addresses both domestic payment system oversight and cross-border foreign exchange considerations. In December 2025, FinSurv issued a draft circular for public consultation on Authorised Dealer and PF responsibilities, cross-border settlement, and reporting requirements. The NPSD has published a draft directive titled "Directive for conduct within the national payment system in respect of issuing and acquiring payments for goods and services provided by offshore merchants - Directive No. X of 2026." Stakeholders must submit comments only on the NPSD draft directive, not the FinSurv circular. Upon finalisation, both the NPSD directive and FinSurv circular will be published simultaneously. The comment period closes on July 17, 2026, with responses to be submitted via the SARB's official channels.

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South African Reserve Bank Develops Regulatory Framework for Cross-Border Payment Facilitators

On June 23, 2026, the South African Reserve Bank (SARB)  published a joint industry communication setting out its coordinated regulatory approach to cross-border payment facilitators, accompanied by two documents open for public consultation: a draft directive issued by the National Payment System Department and a draft exchange control circular issued by the Financial Surveillance Department. The South African Reserve Bank attributes the regulatory action to two structural concerns: the misclassification of domestically delivered payments as cross-border transactions where issuers and acquirers are not registered in South Africa; and the emergence of unregulated cross-border payment facilitator models in which payment instructions for offshore merchants are aggregated and acquired domestically under sponsorship arrangements with authorised domestic acquirers. The South African Reserve Bank identifies associated risks including merchant identity opacity and the potential circumvention of customer due diligence, anti-money laundering, counter-terrorist financing, and balance of payments reporting obligations. The draft directive and draft circular establish the following: The National Payment System Department requires domestic payment instruments to be issued exclusively by domestic issuers and prohibits any person from acquiring domestic transactions unless that person is a domestic acquirer, with foreign issuers and acquirers prohibited from operating domestically unless they are also registered as domestic entities. The National Payment System Department permits cross-border payment facilitators, defined as South African-registered limited liability companies, to operate in the national payment system under acquiring sponsorship arrangements, subject to compliance with the directive and the Financial Surveillance Department circular, and reserves the right to require such facilitators to obtain domestic acquirer authorisation if their scale, volumes, or market concentration pose systemic risk. The National Payment System Department requires domestic acquirers to obtain prior written approval before sponsoring a cross-border payment facilitator, and makes domestic acquirers fully accountable for acquiring, settlement, scheme compliance, and all applicable regulatory obligations in respect of transactions processed through the facilitator. The National Payment System Department requires acquiring sponsorship arrangements to provide for: written agreements without exclusivity clauses; transaction flow compliance with anti-money laundering, counter-terrorist financing, proliferation financing, and sanctions obligations; consumer protection measures covering fee transparency, exchange rate disclosure, dispute resolution, and chargeback mechanisms; offshore merchant fund segregation in a separate South African bank account; and the ability to produce any information relating to the sponsorship arrangement within 24 hours upon request. The National Payment System Department requires sponsoring acquirers to submit biannual reports at the end of January and July each year, covering the number of onboarded facilitators and offshore merchants, merchant names and business descriptions, and aggregated transaction volumes and values per merchant. The directive repeals and replaces Directive No. 1 of 2020 and enters into effect within six months of publication. The Financial Surveillance Department permits payment aggregators to partner with an Authorised Dealer to process low-value, high-volume payments for cross-border retail e-commerce transactions by resident individuals, with consolidated funds transferred through an Authorised Dealer to the designated foreign bank account of the international merchant in compliance with exchange control policy. Individual transactions are capped at R50,000, and splitting transactions to circumvent that limit is prohibited. The Financial Surveillance Department requires Authorised Dealers to obtain written approval for each aggregator partnership and amends the Currency and Exchanges Manual for Authorised Dealers to introduce definitions of "Aggregator" and "e-commerce transactions" and a new section A.5 setting out guidelines and procedures for aggregator-facilitated cross-border retail e-commerce transactions. The NPSD has published a draft directive on issuing and acquiring payments for goods and services provided by offshore merchants. Stakeholders must submit comments on the NPSD draft directive by July 17, 2026, with responses to be submitted via the SARB's official channels. Further clarifications can be requested from media@resbank.co.za.
3259364 pc Jun 23, 2026 adavies European Union European Banking Authority financial services
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European Banking Authority Publishes Latest Minimum Requirement for Own Funds and Eligible Liabilities Dashboard

On June 22, 2026, the European Banking Authority (EBA) published its latest semi-annual dashboard on the minimum requirement for own funds and eligible liabilities (MREL), providing updated information on resolution planning and resources that banks are using to meet their requirements across the European Union (EU). As of December 31, 2025, MREL requirements range from 24.6% to 28.9% of risk-weighted assets (RWAs), depending on bank category. Global systemically important institutions (G-SIIs) face an average external MREL binding requirement of 28.9% of RWAs, while top-tier and "fished" banks face 28.4%, and other banks face 24.6%. The average subordination requirement stood at 21.4% of RWAs for G-SIIs and 21.7% for top-tier and fished banks. Banks primarily meet their requirements through own funds instruments, which account for 19.8% to 21.9% of RWAs depending on bank category. For eligible liabilities, G-SIIs and top-tier banks rely mainly on senior non-preferred debt and senior unsecured debt, while other banks rely more heavily on senior unsecured debt. The dashboard covers 303 banks earmarked for resolution across the EU, based on data reported by resolution authorities and banks. Bail-in remains the preferred resolution strategy in terms of RWAs, accounting for 94% of decisions, while transfer strategies remain broadly balanced at 52% and 48% respectively, reflecting a tendency to favour transfer strategies for smaller banks. MREL instruments set to become ineligible by December 2026 represent EUR 231 billion in rollover needs over the next 12 months. The EBA publishes the MREL dashboard as part of its mandate under the Bank Recovery and Resolution Directive (BRRD) to monitor MREL setting by authorities and resource build-up by institutions. This edition reflects new Implementing Technical Standards (ITS) on reporting of MREL decisions, which introduce a semi-annual reporting cycle, replacing the previous annual submission. The MREL dashboard and related documents are available on the EBA website.

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European Banking Authority Publishes Latest Minimum Requirement for Own Funds and Eligible Liabilities Dashboard

On June 22, 2026, the European Banking Authority (EBA) published its latest semi-annual dashboard on the minimum requirement for own funds and eligible liabilities (MREL), providing updated information on resolution planning and resources that banks are using to meet their requirements across the European Union (EU). As of December 31, 2025, MREL requirements range from 24.6 percent to 28.9 percent of risk-weighted assets (RWAs), depending on bank category. Global systemically important institutions (G-SIIs) face an average external MREL binding requirement of 28.9 percent of RWAs, while top-tier and "fished" banks face 28.4 percent, and other banks face 24.6 percent. Banks primarily meet their requirements through own funds instruments, which account for 19.8 percent to 21.9 percent of RWAs depending on bank category. For eligible liabilities, G-SIIs and top-tier banks rely mainly on senior non-preferred debt and senior unsecured debt, while other banks rely more heavily on senior unsecured debt.
3259357 pc Jun 23, 2026 adavies European Union European Banking Authority financial services
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European Banking Authority Updates Pillar 3 Disclosure Requirements on Environmental, Social and Governance Risks

On June 22, 2026, the European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) amending the Pillar 3 disclosure framework on environmental, social and governance (ESG) risks, equity exposures, and aggregate exposures to shadow banking entities. The ITS finalise the implementation of disclosure requirements introduced by the Capital Requirements Regulation (CRR 3) and form part of the EBA's broader simplification agenda. The amended framework introduces a "core plus supplement" approach calibrated to institutions' size and complexity. Large institutions will disclose 37 percent fewer datapoints than currently required, with taxonomy-related disclosures eliminated. Medium institutions will disclose 17 percent fewer datapoints, while Small and Non-Complex Institutions (SNCIs) will disclose 84 percent fewer datapoints than large institutions. The EBA will centrally pre-fill and disclose ESG information in the Pillar 3 Data Hub on behalf of SNCIs based on supervisory reporting. The ITS extend ESG disclosure requirements to all institutions in a proportionate manner for the first time. The framework aligns with the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD), enabling institutions to cross-refer to information disclosed under Pillar 3 in their ESRS public reporting, thereby reducing duplication. The ITS incorporate recommendations from the Joint Bank Reporting Committee on semantic integration, ensuring integrated reporting. The EBA will submit the final draft ITS to the European Commission for adoption and will develop a Data Point Model and XBRL taxonomy for submission to the Pillar 3 Data Hub. An updated mapping tool linking Pillar 3 disclosures with supervisory reporting will be published in 2026. The ITS are expected to apply with a reference date of December 31, 2026, and December 31, 2027, for SNCIs, subject to further adjustments following the European Commission's finalisation of its work.

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European Banking Authority Publishes Final Draft Implementing Technical Standards on Disclosures for ESG Risks

On June 22, 2026, the European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) amending amending Commission Implementing Regulation (EU) 2024/3172 , as regards the disclosures on  environmental, social and governance (ESG) risks, equity exposures and the aggregate exposure to shadow banking entities. The ITS finalise the implementation of disclosure requirements introduced by Regulation (EU) 2024/1623 (Capital Requirements Regulation 3 – CRR 3) and form part of the EBA's broader simplification agenda. The amended framework introduces a "core plus supplement" approach calibrated to institutions' size and complexity. Large institutions will disclose 37 percent fewer datapoints than currently required, with taxonomy-related disclosures eliminated. Medium institutions will disclose 17 percent fewer datapoints, while Small and Non-Complex Institutions (SNCIs) will disclose 84 percent fewer datapoints than large institutions. The EBA will centrally pre-fill and disclose ESG information in the Pillar 3 Data Hub on behalf of SNCIs based on supervisory reporting. The draft ITS will be submitted to the European Commission for adoption. If adopted, it will apply after its publication in the Official Journal of the European Union.
3267249 pc Jun 23, 2026 rghosh Ghana Directives and Guidelines – Securities and Exchange Commission Ghana horizon scanning
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Ghana's Securities and Exchange Commission Issues Directive on Online Investment Platform Registration

On June 23, 2026, Ghana's Securities and Exchange Commission (SEC) issued Directive SEC/DIR/001/06/2026 requiring market operators, fintech service providers, and persons owning or operating online investment and trading platforms to register and obtain appropriate licensing from the SEC. The directive addresses a growing trend of unregistered online investment applications and trading platforms facilitating access to securities trading in local and foreign markets. The SEC identified significant risks posed by fraudulent and unregulated online investment-related platforms, prompting implementation of strengthened investor protection measures. The directive applies to licensed market operators owning investor-facing investment technology or online platforms, fintech service providers performing SEC-licensed activities, and any person operating a digital platform serving as a digital intermediary. The directive does not apply to ancillary technology services supporting back-office operations, transaction screening systems, anti-money laundering and counter-terrorism financing (AML/CTF) regulatory technology solutions, online reporting and complaints portals, or educational platforms used solely for investor protection and fraud awareness. All persons subject to the directive must complete the licensing and registration process before August 31, 2026. The registration process requires applicants to complete a Platform Owners' Entry Form, participate in platform demonstrations, receive SEC feedback and regulatory guidance, pay applicable registration or licensing fees, and obtain a Registration or Licensing Certificate. The SEC will communicate specific requirements, conditions, and obligations attached to each license or registration, including regulatory reporting obligations. The SEC warned that any person or entity operating an unapproved, unlicensed, or unregistered online investment application or trading platform must immediately cease operations. The directive takes immediate effect and remains in force until revised, amended, varied, or revoked. Inquiries should be directed to the SEC at info@sec.gov.gh, 0302768970-2, or toll-free 0800100065.

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Ghana Securities and Exchange Commission Issues Directive to Market Operators, Fintech Service Providers and Persons Owning and/or Operating Online Investment and Trading Platforms

On June 23, 2026 the Securities and Exchange Commission (SEC) of Ghana issued a directive requiring all online investment platforms, fintech operators, and digital trading service providers to regularise their operations by obtaining the necessary licences and approvals before August 31, 2026. The regulator stated that the directive comes amid the increasing presence of online investment and trading platforms offering access to both local and foreign securities markets without the required regulatory approval. Key highlights of the directive are: Any entity already operating without a licence must cease operations immediately. Licensed market operators running investor-facing platforms must obtain a separate approval for each platform they operate, whilst fintech intermediaries offering SEC-regulated services must also secure the appropriate registration before the deadline. Back-office systems, anti-money laundering compliance tools, investor complaint portals, and educational platforms focused solely on awareness are excluded from the scope of the directive. Operators that miss the August 31, 2026 deadline face sanctions under section 209(4) of the Securities Industry Act, 2016 (Act 929). The directive comes into effect upon publication.
3260216 pc Jun 23, 2026 tojuri Luxembourg Regulatory Framework - Commission de Surveillance du Secteur Financier financial services
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Luxembourg's Financial Services Regulator Applies European Banking Authority Guidelines on Ancillary Services Undertakings

On June 22, 2026, the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's financial services authority, issued Circular CSSF 26/913 to apply the European Banking Authority (EBA) Guidelines on ancillary services undertakings (EBA/GL/2026/01), which were published on January 9, 2026. The Guidelines specify criteria for identifying activities that qualify as ancillary services undertakings under Article 4(1)(18) of Regulation (EU) No 575/2013 (Capital Requirements Regulation). The CSSF has integrated these Guidelines into its administrative practice and regulatory approach to promote supervisory convergence across the European Union. The Guidelines establish three categories of ancillary services undertakings: activities constituting a direct extension of banking; activities ancillary to banking such as operational leasing, property ownership or management, and data processing services; and other similar activities identified by the EBA. The Guidelines address innovative and digital business models, including fintech and technology-driven services, to capture emerging forms of ancillary risks within banking groups. The Circular applies immediately to all Less Significant Institutions designated under the Single Supervisory Mechanism and all Capital Requirements Regulation investment firms incorporated under Luxembourg law. Competent authorities across the EU must notify the EBA of their compliance status by May 4, 2026. The Guidelines themselves apply from May 4, 2026. The CSSF's adoption of these Guidelines aims to establish clear, consistent criteria for identifying ancillary services undertakings, promote a level playing field among institutions, and enhance comparability of prudential requirements across member states. REFERENCES: - Circular CSSF 26/913: Application of the Guidelines of the European Banking Authority on ancillary services undertakings (June 22, 2026) - EBA/GL/2026/01 - Guidelines on ancillary services undertakings (January 9, 2026) - Regulation (EU) No 575/2013 (Capital Requirements Regulation)

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Luxembourg's Commission de Surveillance du Secteur Financier Applies European Banking Authority Guidelines on Ancillary Services Undertakings

On June 22, 2026, the Commission de Surveillance du Secteur Financier (CSSF) issued Circular CSSF 26/913 to apply the European Banking Authority (EBA) Guidelines on ancillary services undertakings ( EBA/GL/2026/01 ). The guidelines specify criteria for identifying activities that qualify as ancillary services undertakings under Article 4(1)(18) of Regulation (EU) No. 575/2013 (Capital Requirements Regulation). The CSSF has integrated these guidelines into its administrative practice and regulatory approach to promote supervisory convergence across the European Union. The guidelines establish three categories of ancillary services undertakings: Activities constituting a direct extension of banking. Activities ancillary to banking. Other similar activities. The guidelines address innovative and digital business models, including fintech and technology-driven services, to capture emerging forms of ancillary risks within banking groups. The circular applies to all less significant institutions and all Capital Requirements Regulation investment firms incorporated under Luxembourg law. The guidelines apply from May 4, 2026, and the circular takes effect immediately.
3259244 pc Jun 22, 2026 ataylor Florida Florida Office of Financial Regulation - Division of Administrative Hearings horizon scanning
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Florida Office of Financial Regulation Settles Enforcement Action Against Money Services Business

On June 22, 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order resolving an enforcement action against TJC Distributing Inc., operating as Moneytoaccount.com, and its President and 51 percent owner, Tito Abenojar Andrada (Case Number 132704). The OFR conducted an examination of the respondents for the period April 1, 2023 through March 31, 2025, to assess compliance with Chapter 560, Florida Statutes, which governs money services businesses. The examination identified that the respondents failed to timely report changes to their business address within 30 days of the change, in violation of Rule 69V-560.201(2), Florida Administrative Code, and thereby Section 560.126(2), Florida Statutes. TJC Distributing Inc. holds money services business license number FT230000067. Rather than pursue formal litigation, the OFR and respondents resolved the matter through a Stipulation and Consent Agreement. Under the settlement terms, the respondents agreed to cease and desist from future violations of Chapter 560, Florida Statutes, and comply with all applicable provisions. The respondents also agreed to pay an administrative fine of $3,500 to the OFR at the time of execution. The fine was to be submitted via wire transfer, cashier's check, or money order payable to the Office of Financial Regulation, referencing Case Number 132704, and sent to the Agency Clerk at Post Office Box 8050, Tallahassee, Florida 32314-8050. By consenting to the Final Order, the respondents waived their rights to a separate statement of findings and conclusions of law, notice of rights, an administrative hearing, and any right to appeal or contest the agreement's validity in any administrative or judicial forum. The Final Order constitutes final agency action by the OFR.

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Florida Office of Financial Regulation Fines TJC Distributing Inc. $3,500 for Regulatory Reporting Violation

On June 22, 2026, the Florida Office of Financial Regulation (OFR) issued a final order approving a stipulation and consent agreement with TJC Distributing Inc. (TJC Distributing), a licensed money transmitter doing business as "Moneytoaccount.com". The OFR found that TJC Distributing failed to report a change to its business address within thirty days of the change, in violation of Rule 69V-560.201(2) , Florida Administrative Code and Section 560.126(2) , Florida Statutes. The OFR imposed an administrative fine of $3,500 against TJC Distributing. The money transmitter agreed to pay the fine and comply with all requirements.
3259667 pc Jun 22, 2026 pdonofrio US Track 2 U.S. Department of the Treasury horizon scanning
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U.S. Department of the Treasury Designates ISIS Facilitators and Money Service Businesses

On June 22, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated three individuals and six entities across Europe, the Middle East, and West Africa for facilitating financial transactions on behalf of the Islamic State of Iraq and Syria (ISIS). The action targets key facilitators who enable ISIS to move funds among its regional affiliates and protect the rights of religious minorities targeted by ISIS and ISIS-inspired violence. Treasury Secretary Scott Bessent said, "ISIS continues to seek new methods and tools to finance terrorist attacks. The United States will leverage every tool at its disposal to crush ISIS's remaining capabilities and protect American lives." The designations were made pursuant to Executive Order 13224, as amended, which authorises counterterrorism sanctions. The designated individuals include Miloud Abderrahmane (France-based), Abdelhakim Boukich (Syria-based), and Mohamad Alhmidan (previously designated in March 2016). Abderrahmane conducted transactions with known ISIS affiliates and provided explosives manufacturing information to ISIS supporters. Boukich controls Bitcoin Xchange, a Syria-based money service business (MSB) established in late 2020 that transferred funds on behalf of ISIS associates from multiple countries including Norway, Belgium, the Netherlands, South Africa, and the United States. Alhmidan owns Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi (Spider), a Turkiye-based MSB, with Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi (Alkaram) operating on its behalf. Spider originated as a hawala operating in Syria and transferred money from ISIS-controlled regions to other areas. Additionally, OFAC designated Mukhtar Adamu Muhammad, a Nigeria-based ISIS in West Africa (ISIS-WA) financial facilitator, and three Nigeria-based MSBs he owns or controls: Nine to Nine Exchange Bureau de Change Limited, Manhattan Bureau de Change Limited, and Generation Currency Bureau de Change Limited. As a result of these designations, all property and interests in property of the designated persons in the United States or controlled by U.S. persons are blocked. U.S. persons are generally prohibited from conducting transactions involving blocked persons. Violations may result in civil or criminal penalties. Non-U.S. persons are prohibited from causing U.S. persons to violate sanctions or engaging in conduct that evades U.S. sanctions.

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US Office of Foreign Assets Control Designates ISIS Facilitators to Disrupt Terrorist Financial Networks

On June 22, 2026, the US Office of Foreign Assets Control (OFAC) designated three individuals and six entities across Europe, the Middle East and West Africa for facilitating financial transactions on behalf of the Islamic State of Iraq and Syria (ISIS). According to OFAC , the new designations target key facilitators who enable ISIS to move funds among its regional affiliates, and were made pursuant to Executive Order 13224 , which authorizes counter-terrorism sanctions. The designated targets include Miloud Abderrahmane (France-based), Abdelhakim Boukich (Syria-based) and Bitcoin Xchange, a Syria-based money service business (MSB). The designations block all US-based property of these targets and generally prohibit US individuals and entities from engaging in transactions with them, unless expressly authorized by OFAC.
3259354 pc Jun 22, 2026 pdonofrio US Track 2 Newsroom - Office of the Comptroller of the Currency (OCC) financial services
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Office of the Comptroller of the Currency Proposes Anti-Money Laundering Rules for Stablecoin Issuers

On June 22, 2026, the Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking to implement anti-money laundering and countering the financing of terrorism (AML/CFT) and sanctions compliance standards for OCC-supervised permitted payment stablecoin issuers (PPSI), as required by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule would require OCC-supervised PPSIs to comply with the Bank Secrecy Act (BSA), sections 4(a)(5) and 4(a)(6)(B) of the GENIUS Act, and applicable regulations issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control. The OCC would establish a supervision and enforcement framework for OCC-supervised PPSIs' AML/CFT programs and create a framework for consultation between the OCC and FinCEN when the OCC intends to initiate an AML/CFT enforcement action or significant AML/CFT supervisory action. The proposed rule would also permit PPSIs to share with the FinCEN Director certain nonpublic OCC information relating to an existing or potential AML/CFT enforcement action or significant AML/CFT supervisory action. The proposed rule applies to federal qualified payment stablecoin issuers and state qualified payment stablecoin issuers for which the OCC has regulatory or enforcement authority pursuant to the GENIUS Act. The OCC seeks comment on all provisions of the proposed rule and aspects of the proposed regulatory framework. The comment period ends 30 days after publication in the Federal Register. Further information can be obtained by contacting Ji Cheon, Assistant Director; Henry Barkhausen, Counsel; or Melissa Lisenbee, Counsel, Chief Counsel's Office, at (202) 649-5490.

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US Office of the Comptroller of the Currency Proposes AML/CTF and Sanctions Rules for Stablecoin Issuers

On June 22, 2026, the US Office of the Comptroller of the Currency (OCC) issued a proposed rule to implement anti-money laundering/counter-terrorism financing (AML/CTF) and sanctions compliance standards for OCC-supervised permitted payment stablecoin issuers (PPSIs), as required by the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act . The proposed rule would require OCC-supervised PPSIs to comply with the Bank Secrecy Act (BSA), Sections 4(a)(5) and 4(a)(6)(B) of the GENIUS Act and applicable regulations issued by both the US Financial Crimes Enforcement Network (FinCEN) and US Office of Foreign Assets Control (OFAC). Under the proposed rule, the OCC would establish a supervision and enforcement framework for OCC-supervised PPSIs' AML/CFT programs and create a framework for consultation between the OCC and FinCEN when the OCC intends to initiate an AML/CFT enforcement action or other significant AML/CFT-related supervisory action. The proposed rule would also permit PPSIs to share with FinCEN certain nonpublic OCC information relating to an existing or potential AML/CFT enforcement action or significant supervisory action. The proposed rule applies to federally qualified PPSIs and state-qualified PPSIs for which the OCC has regulatory authority pursuant to the GENIUS Act. Interested parties may submit comments on the proposed rule until July 22, 2026 at this link .
3259029 pc Jun 22, 2026 pdonofrio US Track 2 Ministry of Finance horizon scanning
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United States Office of Foreign Assets Control Issues Iran General License X for Crude Oil and Petrochemical Products

On June 22, 2026, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Iran General License X, authorizing the production, delivery, and sale of crude oil, petrochemical products, and petroleum products of Iranian origin through August 21, 2026. General licenses issued by OFAC permit specific activities that would otherwise be prohibited under U.S. sanctions programs without requiring individual license applications. Iran General License X authorizes entities to engage in transactions involving Iranian-origin crude oil and related petroleum products within the specified timeframe. This license represents a targeted authorization allowing designated economic activities with Iran that fall outside the scope of broader sanctions restrictions. The license applies to any person or entity subject to U.S. jurisdiction seeking to conduct authorized transactions in Iranian crude oil and petrochemical products. Entities engaging in these activities must ensure compliance with all terms and conditions set forth in the license and applicable sanctions regulations administered by OFAC. The authorization remains in effect until August 21, 2026. Entities should monitor OFAC's website for any amendments, revocations, or additional guidance regarding Iran General License X. For further information on license terms, compliance requirements, or to report transactions conducted under this authorization, entities may consult OFAC's official resources or contact OFAC directly. REFERENCES: Office of Foreign Assets Control, "Issuance of Iran-related General License," June 22, 2026, https://ofac.treasury.gov/

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US Office of Foreign Assets Control Issues Iran-Related General License X for Crude Oil and Petrochemical Products

On June 22, 2026, the US Office of Foreign Assets Control (OFAC) issued Iran-related General License X , authorizing the production, delivery and sale of crude oil, petrochemical products and similar products of Iranian origin through August 21, 2026. The general license represents a targeted authorization, allowing designated economic activities with Iran that fall outside the scope of broader sanctions restrictions. It applies to any individual or entity subject to US jurisdiction seeking to conduct authorized transactions in Iranian crude oil and petrochemical products. Individuals and entities engaging in these activities must ensure compliance with all terms and conditions set forth in the general license and applicable sanctions regulations administered by OFAC.
3257434 pc Jun 22, 2026 kgurnani Australia Australian Securities and Investments Comission horizon scanning
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Australian Securities and Investments Commission Proposes Remaking Four Exchange-Traded Derivatives and Securities Relief Instruments

On June 20, 2026, the Australian Securities and Investments Commission (ASIC) opened a consultation on its proposal to remake four legislative instruments providing relief related to exchange-traded derivatives and securities. The four instruments—ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883, ASIC Corporations (Securities: NZ FASTER System) Instrument 2016/891, ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893, and ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821—are scheduled to sunset in September and October 2026 under the Legislation Act 2003, which requires all legislative instruments to automatically expire after ten years unless preserved. ASIC determined that all four instruments are operating effectively and continue to form a necessary and useful part of the legislative framework. The instruments provide targeted relief across multiple areas: the first modifies Product Disclosure Statement requirements under Part 7.9 of the Corporations Act 2001 for exchange-traded derivatives issued by intermediaries and market participants; the second provides exemptions and modifications to Part 7.11 to recognise securities transferred through New Zealand's NZCDC Legal Title Transfer system; the third enables foreign company securities quoted on ASX Limited's financial market to transfer with statutory warranties and indemnities; and the fourth provides relief to securities lending participants regarding substantial holding disclosure obligations under Chapter 6C. ASIC proposes to remake all four instruments for a five-year period with minor amendments. The substantive effect of each instrument will remain unchanged upon remake. Stakeholders must submit feedback to rri.consultation@asic.gov.au by 5pm AEST on Monday, July 20, 2026. Further detail is available in ASIC consultation paper CS 56 Proposed Remake of Exchange-Traded Derivative and Securities-Related Instruments.

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Australian Securities and Investments Commission Proposes Remaking Four Exchange-Traded Derivatives and Securities Relief Instruments

On June 22, 2026, the Australian Securities and Investments Commission (ASIC) opened a consultation on its proposal to remake four legislative instruments providing relief related to exchange-traded derivatives and securities. The instruments are due to sunset between September - October 2026, and ASIC says they are operating effectively and remain necessary parts of the legislative framework. ASIC proposes to remake the instruments for a further five years, with only minor amendments. The four instruments are: ASIC Corporations (Exchange-Traded Derivatives: Multiple Issuers) Instrument 2016/883 : This modifies Product Disclosure Statement requirements for certain exchange-traded derivatives where the derivative is treated as issued by both an intermediary and a market participant. The relief means only the market participant needs to provide the PDS, while the intermediary’s disclosure obligations are modified. ASIC Corporations (Securities: NZ FASTER System) Instrument 2016/891 : This provides exemptions and modifications so that securities transferred through New Zealand’s settlement system are legally recognised in Australia. ASIC Corporations (Transfers of Division 3 Securities) Instrument 2016/893 : This allows shares or debentures of foreign companies quoted on ASX to be transferred with statutory warranties and indemnities under Division 3 of Part 7.11 of the Corporations Act. ASIC Corporations (Securities Lending Arrangements) Instrument 2021/821 : This gives relief for persons involved in securities lending in relation to substantial holding disclosure requirements under Chapter 6C of the Corporations Act. Stakeholders must submit feedback to rri.consultation@asic.gov.au by 5pm AEST on Monday, July 20, 2026.
3259700 pc Jun 22, 2026 arahman Russia Bank of Russia financial services
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Bank of Russia Publishes Concept for Subordinated Instrument Regulation Reform

On June 22, 2026, the Bank of Russia published a concept for reforming the regulation of subordinated instruments issued by credit organisations. The reform aims to enhance banks' ability to independently restore capital adequacy during stress periods and increase the attractiveness of subordinated debt to investors. Key innovations for banks include raising the capital adequacy trigger level at which write-down or conversion of Additional Tier 1 (AT1) subordinated debt occurs, enabling faster capital restoration mechanisms and smoother credit contraction effects during stress. The Bank of Russia will restrict interest accrual and payment when capital adequacy ratios fall below specified thresholds: 7.5 percent for H1.1, 9 percent for H1.2, and 11 percent for H1.0, allowing banks to preserve capital when most needed. The reform prohibits systemically important credit organisations (SICOs) from issuing Tier 2 (T2) subordinated instruments, which trigger only when H1.1 falls to 2 percent—an unacceptable level for SICOs. Replacing T2 instruments with new AT1 will enhance financial stability and reduce systemic risks. For investors, the concept introduces the possibility of AT1 nominal value recovery following write-down if the bank's financial condition improves, maintaining investor confidence. For floating-rate subordinated instruments, the maximum rate increases to the key rate plus 10 percentage points. The reform removes the perpetuity requirement for AT1, establishing a minimum 10-year maturity instead, improving attractiveness for investors unwilling to lock capital indefinitely. The Bank of Russia will apply these reforms only to newly issued subordinated instruments. Implementation occurs in two phases: the first phase (by January 2027) will establish regulatory frameworks enabling new triggers and rates; the second phase will introduce legislative amendments (perpetuity removal, recovery possibility, T2 prohibition for SICOs), potentially adopted in Q1 2028. The Bank of Russia invites comments and suggestions until July 15, 2026.

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Central Bank of Russia Consults on Concept for Subordinated Instrument Regulation Reform

On June 22, 2026, the Central Bank of Russia published a concept for reforming the regulation of subordinated instruments issued by credit institutions. Key innovations for banks include: Increasing the capital adequacy level (trigger) for the write-off/conversion of subordinated debt included in additional capital (AT1). Banks will be able to more quickly initiate mechanisms to replenish their core capital and mitigate the effects of credit crunch in times of stress. Limiting the accrual and payment of interest if the capital adequacy ratio is below a certain level (N1.1 – 7.5 percent; N1.2 – 9 percent; N1.0 – 11 percent). This will allow banks to conserve capital when it is most needed. A ban on raising subordinated additional capital (T2) instruments for systemically important credit institutions (SICIs). T2 instruments are triggered late, when H1.1 falls to 2 percent. For SSIs, a reduction in capital adequacy to such a level is unacceptable. Replacing these instruments with new AT1 instruments will increase the financial stability of such banks and reduce systemic risks. Comments and feedback must be submitted to the Central Bank of Russia no later than July 15, 2026.
3260205 pc Jun 22, 2026 arahman Russia Bank of Russia financial services
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Russia's Central Bank Publishes Draft Recommendations on Transition Climate Risk Stress Testing for Banks

On June 3, 2026, the Bank of Russia released a draft recommendation report for public consultation on conducting climate stress testing (CST) for transition climate risks in banks. The report, prepared by the Bank of Russia's Financial Stability Department, provides a comprehensive methodology for assessing how banks' credit portfolios may be affected by the energy transition and tightening climate regulation over a 20 to 25-year horizon. The draft recommendations address a critical gap identified in a 2025 Bank of Russia survey, where financial institutions cited the absence of data and methodologies for evaluating climate risks through stress testing. The proposed approach focuses exclusively on transition risks—the long-term financial impacts of decarbonisation and climate policy tightening—rather than physical climate risks. The methodology recommends that the largest banks, particularly systemically important credit institutions, conduct CST using two macroeconomic scenarios: a baseline scenario reflecting current policy trends and a stress scenario modelling accelerated global climate action. Banks should employ a static balance sheet approach, fixing their portfolio structure at the reporting date and projecting credit losses over five-year intervals without assuming dynamic portfolio adjustments or profit modelling. The recommendations require assessment of credit risk across corporate loans, corporate bonds, leasing portfolios, and factoring exposures, with particular focus on "brown" companies—those vulnerable to transition risks due to high carbon intensity or hydrocarbon production. The Bank of Russia will provide standardised macroeconomic scenarios based on Network for Greening the Financial System (NGFS) frameworks, though banks may develop their own science-based scenarios. Key outputs include expected credit loss (ECL) calculations measuring portfolio vulnerability and identifying optimal timeframes for strategic portfolio adjustments. The consultation period closes on July 8, 2026. Banks and stakeholders should submit responses to mmm1@cbr.ru, sidorovskiymo@cbr.ru, or ChigirevaDA@cbr.ru, addressing nine specific discussion questions regarding scenario design, portfolio assessment methodologies, and portfolio adaptation strategies.

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Central Bank of Russia Launches Consultation on Stress Testing for Climate Risks

On June 22, 2026, the Central Bank of Russia launched a consultation on the public consultation report "On Stress Testing Transitional Climate Risks in Banks: Draft Recommendations". The report recommends that banks conduct stress testing of risks associated with the gradual transition of many countries away from fossil fuels and toward renewable energy sources. Stress testing will assess the resilience of banks' loan portfolios to climate-related risks and identify the borrowers and sectors most vulnerable to them. This will enable banks to proactively adapt their strategies, portfolio structure and client engagement approaches. The central bank plans to develop and present macro-scenarios to banks for stress testing. Comments and feedback are welcome up until July 8, 2026 and can be sent via email to the following email addresses: mmm1@cbr.ru , sidorovskiymo@cbr.ru and chigirevaDA@cbr.ru .
3258909 pc Jun 22, 2026 csoo United Kingdom Bank of England horizon scanning
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United Kingdom's Bank of England Launches Policy Statement and Draft Rules on Regulating Systemic Stablecoins

On June 22, 2026, the Bank of England published its policy statement and draft Code of Practice (rules) for systemic stablecoin issuers, establishing the UK's regulatory framework for sterling-denominated systemic stablecoins. The framework aims to support safe innovation while enabling UK-issued stablecoins to develop as trusted forms of digital money, potentially enabling faster, cheaper and more flexible payment services, including cross-border use cases. The policy statement and draft rules reflect feedback from the Bank's consultation conducted last year. Key policy decisions include revised backing asset requirements, with the maximum share held in interest-bearing assets (short-term UK government debt) increased from 60 percent to 70 percent, with the remainder held in central bank deposits to enable issuers to meet redemptions promptly. The Bank will implement a temporary issuance guardrail for each systemic stablecoin, initially set at £40 billion, rather than introducing temporary holding limits. This approach delivers the same policy outcome while being cheaper and easier to implement, and allows unrestricted use by households and businesses. The guardrail will be reviewed regularly and removed once risks to credit provision have been addressed. Sarah Breeden, Deputy Governor for Financial Stability, said the framework represents "a major milestone in delivering greater choice and innovation in UK payments" and establishes "the foundations of that trust for a new form of money." The Bank intends to finalise the Code of Practice by the end of 2026, subject to feedback by September 22, 2026. The Bank is working closely with the Financial Conduct Authority (FCA) to deliver an end-to-end regime, with further detail to be published alongside the FCA's final rules. This framework will allow regulated stablecoins to operate in the UK from 2027. The regime does not cover stablecoins used for non-systemic purposes, such as buying and selling cryptoassets, which remain supervised solely by the FCA.

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UK's Bank of England Publishes Policy Statement and Draft Rules on Regulating Systemic Stablecoins

On June 22, 2026, the Bank of England (BoE) published its policy statement and draft Code of Practice (rules) for systemic stablecoin issuers, establishing the UK's regulatory framework for sterling-denominated systemic stablecoins. The policy statement confirms the following non-exhaustive list of changes: Backing assets Revision to a 70/30 backing asset composition: 70% short-term UK government debt and 30 percent unremunerated BoE deposits, consistent with historical liquidity risk events. Premitting, within backing assets, UK government debt securities with a residual maturity of up to 6 months. Both overnight repurchase (repo) and reverse repo with sterling-denominated UK government debt securities of 6 month or less maturity will be permitted. Deposits at the central bank will remain unremunerated. Commercial bank deposits will not be permitted due to financial and operational risks, and the contagion risks this would create. Similarly, a broader set of eligible assets will not be allowed. Holding limits Temporary guardrail on the level of issuance per systemic stablecoin – initially set at £40bn. Temporary guardrails on the level of issuance have been sized to achieve the same level of credit provision as holding limits. The guardrail will be regularly reviewed and removed once the risk to credit provision has been effectively mitigated. Capital and reserve requirements Updated the approach to be in line with new guidance issued by the CPMI-IOSCO for financial market infrastructure. Added guidance on the approach, calculation and avoiding duplicated resources. Proportionate application of requirements for systemic at launch issuers on case-by-case basis. The BoE plans, in future, to explore jointly with the Prudential Regulation Authority (PRA) the approach to capital requirements for issuers that are part of a banking group. Updated the GBR requirement to be the higher of: 6 months’ operating expenses; or Cost of recovery and orderly wind-down plans (excluding amounts held in wind down reserve). 6 months’ operating expenses; or Cost of recovery and orderly wind-down plans (excluding amounts held in wind down reserve). Code of Practice (CoP) provides details of how the wind-down reserve is calculated and avoids duplicated resources. Safeguarding and trust arrangements BoE will proceed with the statutory trust mechanism, it does not consider that alternative approaches provide adequate protection. There will be two trusts, one to protect coinholders’ holdings and the other to ensure an orderly wind down and return those holdings. HMT has agreed to introduce legislation to give the Bank enabling powers for statutory trusts. Allow an excess of 5% in the backing asset pool, and no limits to excesses in other reserves. Third parties must be separate legal entities but may be in the same group as the issuer. Issuance, legal claim and redemption Coinholders should have a robust legal claim for the value of their stablecoins directly against the issuer and should be able to withdraw their funds on demand at face value without undue constraint or cost. Define ‘end of the day’ as issuers having 24 hours from receipt of a full redemption request to complete a redemption on a rolling basis. Start the clock once issuers have received the request, completed AML/KYC checks and received the stablecoins in their wallet from the person/business making the redemption request. Stop the clock once the issuer instructs a valid payment order for the transfer of funds to the holder’s account. Issuers need to ensure liquidity is prepositioned for payment orders to meet redemption requests. That may be supported by the availability of funds held in the central bank deposit account. Systemic issuers remain responsible if redemptions are outsourced. They need to demonstrate that risks are sufficiently mitigated and all coinholders can redeem in normal and stress times. Issuers remain responsible for third parties’ ability to comply with the Bank’s redemption requirements by placing the obligation for redemption on issuers in the rule. The Bank will not restrict redemption models. Issuers will be required to comply with the requirements set out in the Recognised Payment System Code of Practice , to be updated in 2027, including those relating to operational resilience, third-party risk management, and recovery planning. Remuneration and rewards for coinholders Systemic stablecoins should not pay interest to coinholders, consistent with other international regimes. BoE will clarify that this policy relates to issuers paying interest or income to the holding or retention of a stablecoin, including any payment calculated by reference to the period for which a systemic stablecoin is held. BoE will permit coinholders to receive activity-based rewards and other benefits or incentives that are consistent with the use of a stablecoin as a means of payment. Payment system access BoE maintains that systemic issuers should access payment systems directly rather than through a sponsoring participant. Step-up approach for ‘systemic at launch’ issuers Proportionate application of capital requirements for systemic at launch issuers on case-by-case basis. Approach for systemic at launch firms and transitional arrangements for firms moving from FCA solo regulation will be set out in a separate Bank-FCA publication, which the Bank intends to publish shortly. An expanded set of permissible backing assets will not be permitted under the step-up approach. Section 3.2 of this policy statement includes consultation questions on the proposed Code of Practice, deadline for the consultation is September 22, 2026 and responses can be sent through the web form or by email to CP-systemicstablecoin@bankofengland.co.uk . The Bank intends to finalise the Code of Practice by the end of 2026. This framework will allow regulated stablecoins to operate in the UK from 2027. The regime does not cover stablecoins used for non-systemic purposes, such as buying and selling cryptoassets, which remain supervised solely by the FCA.
3257572 gc Jun 22, 2026 apintea New South Wales News & media - Liquor & Gaming NSW gamblingcompliance
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New South Wales Liquor and Gaming Authority Seeks Feedback on Public Lotteries Regulation

On June 22, 2026, Liquor & Gaming NSW launched a public consultation on how public lotteries are regulated in New South Wales. The Public Lotteries Regulation 2016 is set to expire on September 1, 2026, and Liquor & Gaming NSW intends to renew the regulation to maintain the legislative framework for lottery regulation while ensuring it remains fit for purpose. The draft Public Lotteries Regulation 2026 and accompanying Regulatory Impact Statement are open for consultation until July 10, 2026. Liquor & Gaming NSW proposes retaining most existing provisions with minor amendments to modernise the regulatory framework, remove outdated provisions, and improve clarity, consistency, and effectiveness. The regulation establishes standards for the conduct of public lotteries and implements consumer protections for lottery ticket purchasers. Key objectives include ensuring public lotteries are conducted properly and in line with community interests and expectations, with appropriate harm minimisation measures in place. The formal review process required before the regulation can be remade includes consultation with the public, interest groups, and industry or businesses likely to be affected by the draft regulation. This consultation is a critical component of the regulatory renewal process. Stakeholders, industry participants, and members of the community with an interest in public lottery regulation are encouraged to submit feedback during the consultation period. Submissions can be made via the NSW Government Have Your Say website at https://www.haveyoursay.nsw.gov.au/public-lotteries-regulation-2026. The consultation period closes on Friday, July 10, 2026.

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New South Wales consults on public lotteries regulation

On June 22, 2026, Liquor & Gaming NSW launched a public consultation on how public lotteries are regulated in New South Wales. The Public Lotteries Regulation 2016 is set to expire on September 1, 2026, and Liquor & Gaming NSW intends to renew the regulation to maintain the legislative framework for lottery regulation while ensuring it remains fit for purpose. Liquor & Gaming NSW proposes retaining most existing provisions with minor amendments to modernise the regulatory framework, remove outdated provisions, and improve clarity, consistency, and effectiveness. The regulation establishes standards for the conduct of public lotteries and implements consumer protections for lottery ticket purchasers. Stakeholders, industry participants, and members of the community with an interest in public lottery regulation are encouraged to submit feedback during the consultation period. Submissions can be made via the NSW Government Have Your Say website at https://www.haveyoursay.nsw.gov.au/public-lotteries-regulation-2026. The consultation period closes on Friday, July 10, 2026.
3248548 pc Jun 22, 2026 kgurnani New Zealand Reserve Bank of New Zealand financial services
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New Zealand Reserve Bank Opens Consultations on Crisis Preparedness and Final Tranche of Deposit Taker Standards

On June 18, 2026, the Reserve Bank of New Zealand (RBNZ) - Te Pūtea Matua opened consultations on six draft standards and a crisis preparedness policy package for deposit takers under the Deposit Takers Act 2023 (DTA). This consultation marks the third and final tranche of DTA standards and guidance to be issued in 2027, with crisis preparedness standards to follow separately in 2028. The crisis preparedness package aims to enable the orderly resolution of deposit taker failures while preserving critical customer services and avoiding the use of public funds. Angus McGregor, Acting Assistant Governor Financial Stability, said the framework is essential for reducing economic damage and disruption. The package reflects several years of policy work drawing from international practice and addressing New Zealand's unique context. Key requirements include recovery planning and resolution pre-positioning, requiring deposit takers to establish contingency plans and internal capabilities for managing severe financial stress, and the design of loss-absorbing capacity instruments for domestic systemically important banks. The RBNZ is also consulting on six draft standards covering Capital Internal Models, Operational Resilience, Outsourcing, Disclosure, and Related Party Exposures. These standards apply to deposit takers using specific regulatory models and frameworks under the DTA. Both consultations are open for twelve weeks, with submissions due by 5pm on Friday, September 11, 2026. All DTA standards except those relating to crisis preparedness will be issued by May 31, 2027, and come into effect on December 1, 2028. Crisis preparedness standards will be issued in 2028 and come into effect in 2029, with implementation timeframes varying to allow deposit takers reasonable compliance time.

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New Zealand Reserve Bank Opens Consultations on Crisis Preparedness and Final Tranche of Deposit Taker Standards

On June 18, 2026, the Reserve Bank of New Zealand (RBNZ) opened consultations on six draft standards and a crisis preparedness policy package for deposit takers under the Deposit Takers Act 2023 (DTA) . The consultation package covers draft standards and guidance on: Capital Standard: Sets minimum capital requirements for deposit takers in New Zealand, intended to ensure that deposit takers can absorb losses and remain resilient during economic shocks. It covers capital requirements, components of capital, credit risk, credit risk mitigation, market risk, operational risk, funds management, securitisation, insurance and loan transfers. It will replace existing capital requirements for registered banks in the Banking Prudential Requirements and for non-bank deposit takers under the Non-Bank Deposit Takers Act 2013 . The draft is largely based on existing Banking Prudential Requirements (BPRs), amended for DTA policy decisions and the 2025 Capital Review, but it intends to redraft the Capital Standard more fully after DTA implementation to improve clarity. Internal Models Standard: Sets methods for calculating risk-weighted assets and expected losses, which feed into capital ratio calculations under the Capital Standard. It will replace existing internal ratings-based capital requirements currently found in BPR133 and BPR134, and includes elements of BPR130 . Operational Resilience Standard: designed to ensure deposit takers can manage operational risk and remain resilient during disruption. It covers four main areas: operational risk management, ICT and cyber risk, material service providers, and business continuity planning. RBNZ notes this should be read together with the Outsourcing Standard where both apply. Outsourcing Standard: Sets risk-mitigation requirements for third-party arrangements that support critical operations. It is particularly focused on ensuring that outsourcing does not obstruct resolution if a deposit taker fails or is separated from its wider group. Required outcomes include maintaining daily clearing and settlement obligations, monitoring financial positions, giving RBNZ/resolution managers access to systems and data, and continuing basic banking services for existing customers. The standard includes requirements such as prescribed contractual terms, parallel rights or direct contracts with independent third parties, back-up capability or alternatives, and RBNZ approval for certain material service provider arrangements, back-up capability, alternative arrangements and separation plans. It will replace most of the existing BS11 Outsourcing Policy , with some requirements instead moved into the Operational Resilience Standard. Disclosure Standard: Sets requirements for prudential disclosure statements that certain deposit takers must publish. This tranche adds disclosure content on risk management, counterparty exposures, capital adequacy and fiduciary activities such as insurance business. Related Party Exposures Standard: Addresses financial-stability risks from deposit takers’ exposures to related parties, such as directors, senior managers, close family members or entities with significant influence over the deposit taker. It includes quantitative and qualitative requirements, including maximum exposure limits and requirements that related-party transactions be on the same terms as ordinary third-party transactions. It replaces the existing connected exposure requirements for registered banks under BS8 and the related-party exposure requirements for NBDTs under the Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010 . An updated version of the tranche 2 draft. RBNZ is asking stakeholders to focus on the additional sections, not to resubmit feedback already given on tranche 2 content. It also includes a definition of “credit rating” intended to apply to all deposit takers.
3256780 pc Jun 22, 2026 tojuri Luxembourg Publications and data – CSSF horizon scanning
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Luxembourg's Financial Services Commission Publishes Form for Investment Fund Managers Providing Ancillary Services

On June 19, 2026, the Commission de Surveillance du Secteur Financier (CSSF) published a dedicated notification form for Luxembourg-based investment fund managers (IFMs) seeking to provide ancillary services to third parties. The form implements requirements introduced by the Law of March 3, 2026, which transposed Directive (EU) 2024/927 into Luxembourg law. Under Article 5(4)(b)(iv) of the Law of July 12, 2013 on alternative investment fund managers and Article 101(3)(b), fourth indent of the Law of December 17, 2010 relating to undertakings for collective investment (UCI), national competent authorities may authorise IFMs to provide certain functions or activities to third parties, provided these functions are already delivered by the IFM in relation to a UCI it manages or services it provides. IFMs wishing to provide ancillary services for the first time must request authorisation from the CSSF by submitting the completed form. Simultaneously, the IFM's articles of incorporation must be updated to specify the possibility of providing these ancillary services within the corporate object. The CSSF clarified that adding supplementary activities under updated articles of incorporation requires only notification rather than new authorisation. The CSSF reserves the right to request additional information regarding initial or supplementary notifications at any time. The CSSF emphasised that this form does not apply to requests for other non-core services under Article 5(4)(b)(i) to (iii) of the Law of 2013 or Article 101(3)(b), first to third indent of the Law of 2010. IFMs should submit notifications using the new form available on the CSSF website. The form applies to alternative investment fund managers and management companies under Chapter 15 of Luxembourg's regulatory framework.

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Luxembourg’s Commission de Surveillance du Secteur Financier Informs on Notification of Intention of Luxembourg-Based Investment Fund Managers to Provide Ancillary Services to Third Parties

On June 19, 2026, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) issued a notice to the investment fund industry in relation to the notification of the intention of a Luxembourg-based investment fund manager (IFM) to provide ancillary services to third parties. Following the adoption of the Law of March 3, 2026 to transpose Directive (EU) 2024/927 (AIFMD II), additional activities and functions have been introduced for UCITS management companies and authorised alternative investment fund managers. Any IFMs wishing to perform these activities and/or functions for the first time must request authorisation from the CSSF by completing and submitting the CSSF's new dedicated form . Additionally, the IFM's articles of incorporation must be updated to specify the provision of these ancillary services as an object of the corporation. Adding supplementary activities and/or functions under the updated articles of incorporation does not require new authorisation from the CSSF, only notification. The CSSF reserves the right to request additional information about the initial or any supplementary notification at any time.
3255708 pc Jun 22, 2026 tojuri Belgium Financial Services and Markets Authority financial services
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Belgium's Financial Services and Markets Authority Publishes Anti-Money Laundering Newsletter

On June 18, 2026, the Financial Services and Markets Authority (FSMA) published its latest anti-money laundering and counter-terrorism financing (AML/CTF) newsletter for anti-money laundering compliance officers (AMLCOs). The newsletter forms part of the FSMA's supervisory mandate to inform regulated entities of applicable legal and regulatory obligations in the AML/CTF space. The current issue provides an in-depth examination of politically exposed persons (PEPs), clarifying the definition of who constitutes a PEP and outlining specific due diligence obligations that AMLCOs must apply when engaging with PEPs and their close associates. The FSMA directs readers to publications issued by the Financial Intelligence Unit–Financial Intelligence Centre (CFI-CTIF) containing national risk analyses covering money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction. The newsletter also addresses miscellaneous matters, including updates to the Financial Action Task Force (FATF) grey list and changes to the AML questionnaire under new European legislation. These updates reflect evolving regulatory requirements and international standards applicable to Belgian financial institutions and other regulated entities subject to AML/CTF supervision. The newsletter is available in French and Dutch, enabling compliance professionals across Belgium's financial sector to access guidance in their preferred language. This publication supports AMLCOs in maintaining compliance with current obligations and understanding emerging trends in AML/CTF regulation. The FSMA continues to use its newsletter as a key communication tool to disseminate regulatory expectations and best practices to the compliance community.

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Belgium's Financial Services and Markets Authority Publishes Anti-Money Laundering Newsletter

On June 18, 2026, the Financial Services and Markets Authority (FSMA) published its latest anti-money laundering and counter-terrorism financing (AML/CTF) newsletter for anti-money laundering compliance officers (AMLCOs). The newsletter provides an in-depth examination of politically exposed persons (PEPs), clarifying who constitutes a PEP and outlining the specific due diligence obligations that AMLCOs must fulfil when engaging with PEPs and their close associates. The FSMA also directs readers to publications issued by the Financial Information Processing Unit (CFI-CTIF), which contain national risk analyses covering money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction. The newsletter also addresses other matters, including updates to the Financial Action Task Force (FATF) grey list and changes to the AML questionnaire under new European legislation. These updates reflect the evolving regulatory requirements and international standards applicable to Belgian financial institutions and other entities under AML/CTF supervision.
3255019 pc Jun 22, 2026 tojuri International Financial Action Task Force horizon scanning
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Financial Action Task Force Identifies Three High-Risk Jurisdictions Subject to Call for Action

On June 19, 2026, the Financial Action Task Force (FATF) published its updated list of high-risk jurisdictions subject to a call for action, identifying the Democratic People's Republic of Korea (DPRK), Iran, and Myanmar as countries with significant strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes. For the DPRK, the FATF reiterated longstanding concerns about the country's failure to address deficiencies in its AML/CFT regime and the serious threats posed by illicit activities related to proliferation of weapons of mass destruction financing. The FATF calls on all members and jurisdictions to apply countermeasures, including terminating correspondent relationships with DPRK banks, closing any subsidiaries or branches of DPRK banks, and limiting business relationships and financial transactions with DPRK persons. The FATF emphasised that increased financial connectivity with the international system raises proliferation financing risks requiring greater vigilance. Regarding Iran, the FATF acknowledged Iran's re-engagement but assessed that Iran has failed to address the majority of its action plan since 2016. The FATF noted Iran's reservations to the United Nations Convention against Transnational Organized Crime and the United Nations Convention for the Suppression of the Financing of Terrorism are overly broad and that domestic compliance is not aligned with FATF standards. The FATF calls on jurisdictions to apply effective countermeasures, including refusing establishment of financial institution subsidiaries or branches from Iran and prohibiting new correspondent relationships. For Myanmar, the FATF called for enhanced due diligence rather than countermeasures, noting some progress in financial intelligence usage and criminal proceeds confiscation. However, the FATF identified extensive fraud and cyber scam activities as presenting significant illicit finance risks. Myanmar must urgently implement its action plan by October 2026 to avoid countermeasures.

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Financial Action Task Force Announces High-Risk Jurisdictions Subject to Call for Action (Black List) - June 2026

The Financial Action Task Force (FATF) has released a list of high-risk jurisdictions subject to a call for action as of June 2026. The jurisdictions identified in FATF’s February update remain unchanged. The Democratic People's Republic of Korea (DPRK) and Iran are the jurisdictions subject to a FATF call on its members and other jurisdictions to apply countermeasures. FATF also calls on its members and other jurisdictions to apply enhanced due diligence measures, and not countermeasures, proportionate to the risks arising from Myanmar . FATF calls on all members to apply enhanced due diligence and, in potentially the most serious cases, to take countermeasures to protect the international financial system. As a result of the increased risks of proliferation financing, FATF reiterates its call for countermeasures to be applied to these high-risk jurisdictions.
3258549 pc Jun 22, 2026 rghosh Japan Financial Services Agency horizon scanning
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Japan's Financial Services Agency Reports on Failed Financial Institution Resolution Measures

On June 22, 2024, Japan's Financial Services Agency (FSA) submitted a report to parliament detailing measures taken to resolve failed financial institutions. The report, compiled under Article 5 of the Emergency Measures Act for Financial Function Restoration, covers the period from October 1, 2023, through March 31, 2024. The FSA's report documents the actions and interventions undertaken during this six-month period to manage the resolution and restructuring of failed financial institutions. The submission to parliament fulfils the FSA's statutory obligation to provide regular updates on resolution activities and the effectiveness of emergency measures implemented to stabilise Japan's financial system. This reporting mechanism ensures transparency and parliamentary oversight of the FSA's crisis management and institutional recovery efforts. The report provides comprehensive details on resolution strategies, financial support mechanisms, and operational measures deployed to protect depositors, maintain financial stability, and facilitate the orderly wind-down or restructuring of failed institutions. The FSA's resolution framework operates under the Emergency Measures Act for Financial Function Restoration, which grants the agency broad authority to implement necessary interventions during financial crises. Interested parties can access the full report details through the FSA's official website. For further inquiries regarding financial administration and the report's contents, the FSA's Supervision Bureau General Affairs Division, Credit Institution Response Office, is available during business hours (10:00am to 5:00pm on weekdays) via telephone at 0570-016-8811 (or 03-5251-6811 for IP phone users).

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Japan's Financial Services Agency Reports on Failed Financial Institution Resolution Measures

On June 22, 2026, Japan's Financial Services Agency (FSA) submitted a report to parliament detailing measures taken to resolve failed financial institutions. The report, compiled under Article 5 of the Emergency Measures Act for Financial Function Restoration , covers the period from October 1, 2025, through March 31, 2026. The FSA's report documents the actions and interventions undertaken during this six-month period to manage the resolution and restructuring of failed financial institutions. The report provides comprehensive details on resolution strategies, financial support mechanisms, and operational measures deployed to protect depositors, maintain financial stability, and facilitate the orderly wind-down or restructuring of failed institutions. Key findings include: No new bank failures requiring intervention: During the reporting period, no financial institution was placed under special administrative management (i.e., no formal failure resolution actions were initiated). No new cash grants to rescue acquirers: The Deposit Insurance Corporation of Japan provided no new cash grants to acquiring/rescuing financial institutions during the period. No new asset purchases from failed institutions: No assets were purchased from failed financial institutions during the period. Public capital support: Under the Financial Function Strengthening Act , capital support was injected into Noto Kyoei Shinkin Bank. Most special government-backed accounts have no debt outstanding: As of March 2026, the following accounts had zero outstanding borrowings/bonds: General account Financial reconstruction account Early strengthening account Crisis response account General account Financial reconstruction account Early strengthening account Crisis response account As per the report, Japan’s banking system remained stable, with no new failures or emergency resolutions during the period. The main policy action was targeted capital support for regional institutions.
3255017 pc Jun 22, 2026 tojuri International Financial Action Task Force horizon scanning
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Financial Action Task Force Updates Jurisdictions Under Increased Monitoring List to Nineteen June 2026

On June 19, 2026, the Financial Action Task Force (FATF) published an updated list of jurisdictions under increased monitoring, commonly referred to as the "grey list." The list identifies 20 jurisdictions actively working with the FATF and FATF-style regional bodies (FSRBs) to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. The jurisdictions under increased monitoring are Angola, Bolivia, Bosnia and Herzegovina, Bulgaria, Cameroon, Côte d'Ivoire, Democratic Republic of the Congo, Haiti, Iraq, Kenya, Kuwait, Lao PDR, Lebanon, Monaco, Nepal, Papua New Guinea, South Sudan, Syria, Venezuela, Vietnam, Virgin Islands (UK), and Yemen. The FATF notes that jurisdictions placed under increased monitoring have committed to resolving identified strategic deficiencies within agreed timeframes and remain subject to ongoing monitoring. The FATF emphasises that placement on the increased monitoring list does not constitute a call for enhanced due diligence measures. Instead, the FATF encourages its members and all jurisdictions to apply a risk-based approach when considering actions based on the information presented. The FATF specifically calls on jurisdictions to ensure that flows of funds for humanitarian assistance, legitimate non-profit organisation activity, and remittances are neither disrupted nor discouraged, and to consider international obligations under United Nations Security Council Resolution 2761 (2024) regarding humanitarian exemptions to asset freeze measures. The FATF also announced that Algeria and Namibia have been removed from the increased monitoring list following significant progress in strengthening their anti-money laundering and counter-terrorism financing regimes.

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Financial Action Task Force Announces Jurisdictions Under Increased Monitoring (Grey List) - June 2026

The Financial Action Task Force (FATF) has published an updated list of jurisdictions under increased monitoring, as of June 2026. Jurisdictions under increased monitoring are actively working with FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing (AML/CTF). Countries placed under increased monitoring have committed to resolving the identified strategic deficiencies within agreed-upon timeframes and are subject to increased monitoring. FATF and FATF-style regional bodies continue to work with the jurisdictions as they report on the progress in addressing their strategic deficiencies. Following this recent round of review, FATF has made the following decisions: Bosnia and Herzegovina and Iraq have been added to the list of jurisdictions subject to FATF’s increased monitoring process and have made a high-level political commitment to work with FATF and a FATF-style regional body to strengthen the effectiveness of their AML/CTF regimes. Algeria and Namibia have been removed from the list of jurisdictions subject to FATF’s increased monitoring process.
3256100 pc Jun 22, 2026 adavies Norway Lovdata horizon scanning
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Norway's Ministry of Finance Amends Financial Undertakings Act to Implement Capital Requirements Directive Changes

On June 19, 2026, Norway's Ministry of Finance (Finansdepartementet) published amendments to the Financial Undertakings Act (finansforetaksloven) and related legislation implementing changes from European Union Directive 2024/1619 on capital requirements. The amendments address capital requirements, confidentiality obligations, administrative penalties, and governance requirements for financial institutions. The amendments introduce significant changes across multiple areas of financial regulation. Key modifications include new provisions requiring securities firms exceeding asset thresholds of 30 billion euros to obtain credit institution licenses; enhanced governance requirements establishing minimum board composition standards and employee representation rights; updated capital adequacy frameworks aligned with the Capital Requirements Regulation; and expanded liquidity and financing stability requirements. The legislation introduces new administrative penalty provisions, including breach fines up to 50 million Norwegian kroner for individuals and up to 50 million kroner or 10 percent of annual turnover for undertakings, whichever is higher. The amendments also establish prohibitions on holding management functions for up to five years for individuals involved in serious violations. The legislation amends 18 existing laws including the Insurance Activities Act, Securities Trading Act, Securities Fund Act, Alternative Investment Fund Management Act, Credit Rating Agency Act, Financial Reference Values Act, Banks' Guarantee Fund Act, Anti-Money Laundering and Counter-Terrorism Financing Act, Securities Depository Act, Auditing and Auditors Act, Insurance Mediation Act, Loan Mediation Act, and others. The amendments strengthen oversight of financial stability, introduce enhanced requirements for identifying and managing sustainability-related risks, and expand the Financial Supervisory Authority's (Finanstilsynet) enforcement powers. Entry into force is determined by the King in Council. REFERENCES: Lovdata. (2026, June 19). Lov om endringer i finansforetaksloven mv. (gjennomføring av endringer i kapitalkravsdirektivet, taushetsplikt, overtredelsesgebyr mv.). Retrieved from https://lovdata.no/

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835 chars · nid 93371

Norwegian Government Publishes Act on Amendments to the Financial Institutions Act

On June 19, 2026, the Norwegian government published the Act on amendments to the Financial Institutions Act in the Official Gazette. The act implements changes from Directive (EU) 2024/1619 (Capital Requirements Directive VI – CRD VI). In particular, the amendments address capital requirements, confidentiality obligations, administrative penalties, and governance requirements for financial institutions. Key modifications include: New provisions requiring securities firms exceeding asset thresholds of €30bn to obtain credit institution licenses. Enhanced governance requirements establishing minimum board composition standards and employee representation rights. Updated capital adequacy frameworks. Expanded liquidity and financing stability requirements. The Act enters into force on a date to be determined by the King.
3256355 pc Jun 22, 2026 rghosh Kenya Weekly Bulletin | CBK horizon scanning
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Kenya's Central Bank Publishes Non-Deposit Taking Credit Providers Regulations

In May 2026, the Central Bank of Kenya (CBK) published a Regulatory Impact Statement on the Central Bank of Kenya (Non-Deposit Taking Credit Providers) Regulations, 2026. The regulations establish a comprehensive framework for licensing, registration, and operation of non-deposit taking credit providers (NDTCPs), replacing the previous Central Bank of Kenya (Digital Credit Providers) Regulations, 2022. The regulations derive authority from Sections 57(1), (3) and (4) of the Central Bank of Kenya Act and the Statutory Instruments Act. The CBK Act was amended by the Business Laws (Amendment) Act, 2024, which expanded the scope of the regulatory framework by replacing the term "digital" with "non-deposit taking" to clarify coverage of all credit providers not regulated under other laws. The new regulations address ongoing challenges including high loan costs, unethical debt collection practices, and misuse of personal information. The regulations comprise eleven parts covering licensing procedures, registration processes, operational requirements, consumer protection safeguards, anti-money laundering and counter-terrorism financing obligations, reporting requirements, a Code of Conduct, enforcement mechanisms, and review procedures. Key provisions include mandatory fit and proper certification, corporate governance standards, risk management requirements, credit information exchange, loan appraisal and collection procedures, customer protection principles, loan agreement content specifications, pricing parameters, and customer complaints mechanisms. The CBK determined that no new financial costs will be imposed on compliant institutions. The regulations will enhance compliance among CBK-licensed institutions and strengthen the integrity of the financial sector. The Central Bank of Kenya (Digital Credit Providers) Regulations, 2022, will be revoked upon publication of the new regulations.

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Central Bank of Kenya Publishes Non-Deposit Taking Credit Providers Regulations

On June 20,2026, the Central Bank of Kenya (CBK) announced the publication of a Regulatory Impact Statement on the Central Bank of Kenya (Non-Deposit Taking Credit Providers) Regulations, 2026. The regulations establish a comprehensive framework for licensing, registration, and operation of non-deposit taking credit providers (NDTCPs), replacing the previous Central Bank of Kenya (Digital Credit Providers) Regulations, 2022 . The new regulations address ongoing challenges including high loan costs, unethical debt collection practices, and misuse of personal information. The regulations comprise eleven parts covering: Licensing procedures Registration processes Operational requirements Consumer protection safeguards Anti-money laundering and counter-terrorism financing obligations Reporting requirements Code of conduct Enforcement mechanisms Review procedures Key provisions include : Mandatory fit and proper certification Corporate governance standards Risk management requirements Credit information exchange Loan appraisal and collection procedures Customer protection principles Loan agreement content specifications Pricing parameters Customer complaints mechanisms The regulations will enhance compliance among CBK-licensed institutions and strengthen the integrity of the financial sector. The Central Bank of Kenya (Digital Credit Providers) Regulations, 2022, will be revoked upon publication of the new regulations.
3260684 pc Jun 22, 2026 rghosh Dubai VARA horizon scanning
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Dubai's Virtual Assets Regulatory Authority Issues Fine Against CoinMENA FZE for Compliance Failures

On June 22, 2026, the Virtual Assets Regulatory Authority (VARA) issued a Notice of Fines against CoinMENA FZE (Ref: VL/23/09/001), a virtual asset service provider licensed to conduct VA Broker-Dealer Services. CoinMENA received its Virtual Asset Service Provider Licence on November 30, 2023. Following ongoing supervisory inspections covering full market operations from inception through the 2025 financial year, VARA identified administrative issues with CoinMENA's internal systems and controls that resulted in compliance failures relating to its anti-money laundering (AML) programme. In response, VARA imposed a financial penalty against CoinMENA. VARA emphasised that CoinMENA cooperated fully throughout the enforcement process, providing all necessary information to the regulator, accepting the identified findings, and implementing a coordinated remediation plan to strengthen its assurance standards. This enforcement action reflects VARA's commitment to maintaining robust compliance standards among virtual asset service providers operating in Dubai. The notice has been published to provide market awareness and consumer information regarding VARA's supervisory and enforcement activities. VARA stated that the notification does not constitute professional or legal advice and does not substitute for investors' own due diligence. Virtual asset service providers should ensure their internal systems and controls, particularly those related to AML compliance, meet VARA's regulatory requirements. The enforcement notice is available on VARA's website alongside other regulatory notices issued by the authority.

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Dubai's Virtual Assets Regulatory Authority Fines CoinMENA FZE for Compliance Failures

On June 22, 2026, the Virtual Assets Regulatory Authority (VARA) of Dubai fined CoinMENA FZE, a virtual asset service provider licensed to conduct VA Broker-Dealer Services. VARA identified administrative issues with CoinMENA's internal systems and controls that resulted in compliance failures relating to its anti-money laundering (AML) programme. In response, VARA imposed a financial penalty against CoinMENA. The exact fine amount has not been disclosed by VARA yet.
3258319 pc Jun 21, 2026 rghosh Israel BOI - Press Releases financial services
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Israel's Bank of Israel Publishes Reform on Household and Small Business Banking Fees

On June 21, 2026, the Bank of Israel (BOI) published a comprehensive reform governing fees charged to households and small businesses for payment account management services and debit card fees. The reform aims to simplify banking services, improve price transparency, and enhance competition in the banking sector. The reform introduces a new standardised "payment account management" service bundling everyday transaction services such as account debits and credits, cash deposits and withdrawals, transfers to other accounts, cheque deposits and withdrawals, and bill payments. Under the new system, banks may charge a fixed monthly fee for up to 100 transactions per month, replacing the previous tiered system established in 2014. The maximum fee for the first 100 monthly transactions is 10 new Israeli shekels (NIS); for accounts with zero to two monthly transactions, the fee is capped at 5 NIS; and each additional transaction beyond 100 is capped at 1 NIS. The service will become the default for all customers without requiring active enrolment. The reform also regulates debit card fees at a maximum of 7 NIS monthly, protecting vulnerable populations and those unable to access credit cards. This replaces the current arrangement offering three-year fee exemptions conditional on holding a concurrent credit card. Additionally, banks may now create flexible service bundles combining services across departments at full tariff rates, subject to supervisor approval. The debit card fee regulation takes effect in October 2026, while the new payment account management service enters force in July 2027, though banks may implement it earlier if desired. Banks are prohibited from charging fees for certain services including returned cheques due to technical reasons, account tracing, and estate administration.

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Bank of Israel Reforms Payment Account Management Fees and Debit Card Charges

On June 21, 2026, the Bank of Israel published a press release announcing a reform of the fees charged to households and small businesses for payment account management services (including current accounts) and immediate debit (debit) cards. The reform enters into force on a staged basis in October 2026 and July 2027. Key elements of the reform include: Introduction of a new "payment account management" service that consolidates all basic day-to-day current account services, including account credits and debits, cash deposits and withdrawals, transfers to other accounts, cheque withdrawals, redemptions and deposits, and voucher payments. Banking corporations may charge individual and small business customers holding an active payment account a fixed "payment account management" fee covering 100 transactions per month, an increase from the existing basic tier of 10 self-service transactions and one counter transaction.  he new charging method enters into force in July 2027, though banking corporations that wish to do so may implement it earlier. The Bank of Israel sets the following maximum regulated prices within the payment account management service: a maximum fee of NIS 10 for the first 100 transactions in a month. a maximum fee of NIS 5 where between zero and two transactions are carried out in a month. a maximum fee of NIS 1 per transaction for each additional transaction beyond 100. a maximum fee of NIS 10 for the first 100 transactions in a month. a maximum fee of NIS 5 where between zero and two transactions are carried out in a month. a maximum fee of NIS 1 per transaction for each additional transaction beyond 100. Introduction of a regulated cap on the monthly immediate debit card fee, set at a maximum of NIS 7, replacing the existing arrangement under which customers holding a concurrent credit card received a three-year exemption from the debit card fee. The cap enters into force in October 2026 and extends protection to a broader population for a longer period, including customers from vulnerable groups and those refused credit cards for whom the immediate debit card is the only means of conducting digital transactions. Provisions for banking corporations to offer flexible service packages that combine services from different sections of the full tariff, including the payment account management service, into a single bundle tailored to customer needs. Banking corporations require the approval of the Supervisor of Banks before adding such packages to their tariff schedule. Prohibition of the charging of fees in respect of the following: returning a cheque for technical reasons; account location services; and the handling of inheritances and estates.
3257378 pc Jun 21, 2026 rghosh Egypt News - Central Bank of Egypt horizon scanning
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Egypt's Central Bank Adopts International ISO 20022 Standard for Financial Transfers

On June 21, 2026, the Central Bank of Egypt announced that the Egyptian banking sector will adopt the ISO 20022 international standard for SWIFT messaging in interbank financial transfers, effective immediately. Hassan Abdallah, governor of the Central Bank of Egypt, said the transition represents a fundamental shift in modernising Egypt's digital payment infrastructure in line with international best practices. The ISO 20022 standard is the unified and most advanced international standard for financial messaging. It enhances settlement efficiency between banks through faster and more accurate processing, while improving the quality of transfer data by enabling additional information to be included in transactions. This capability streamlines cross-border payments by providing standardised data that facilitates automated processing and reduces manual intervention, thereby accelerating transaction execution and improving operational efficiency. The standard strengthens banks' capacity to automatically screen transactions according to international and local anti-money laundering and counter-terrorism financing recommendations, making this upgrade a strategic necessity for facilitating cross-border payments and enabling seamless integration with regional payment platforms. The adoption also supports modern financial services, including open banking and advanced data analytics, while enabling banks and financial institutions to develop innovative banking and financial products. The Central Bank of Egypt has updated its real-time settlement system to comply with this standard, positioning Egypt's payment infrastructure among the world's most advanced settlement systems and establishing it as a cornerstone of the country's digital financial services infrastructure.

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Egypt's Central Bank Adopts ISO 20022 for Financial Transfers

On June 21, 2026, the Central Bank of Egypt announced that the Egyptian banking sector will adopt the ISO 20022 international standard for SWIFT messaging in interbank financial transfers, effective immediately. The ISO 20022 standard is the unified and most advanced international standard for financial messaging. The standard strengthens banks' capacity to automatically screen transactions according to international and local anti-money laundering and counter-terrorism financing recommendations, making this upgrade a strategic necessity for facilitating cross-border payments and enabling seamless integration with regional payment platforms. The adoption also supports modern financial services, including open banking and advanced data analytics, while enabling banks and financial institutions to develop innovative banking and financial products. The Central Bank of Egypt has updated its real-time settlement system to comply with this standard.
3255982 pc Jun 20, 2026 arahman Albania Albania Central Bank financial services
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Albania Central Bank Approves Regulation on Interchange Fees for Card-Based Payment Transactions

On an unspecified date in 2026, Albania's Central Bank Governing Council approved a regulation establishing interchange fee caps for domestic card-based payment transactions conducted within Albania's territory. The regulation applies when both the payer's payment service provider and the payee's payment service provider are located within Albania. The regulation sets maximum interchange fees at 0.2 percent of transaction value for debit card transactions and 0.3 percent for credit card transactions. These caps apply to payment service providers offering or requesting interchange fees for consumer card transactions. The regulation excludes certain categories of card-based payment instruments, including commercial cards, automated teller machine (ATM) withdrawals, and transactions involving three-party payment card schemes, though specific exemptions apply to four-party schemes under certain licensing conditions. The regulation establishes business rules requiring separation between card payment schemes and processing entities regarding accounting, organisation, and decision-making processes. It prohibits discrimination between scheme members and other contractual partners, and mandates that payment schemes allow co-badging of multiple payment brands on a single card instrument. The regulation also requires merchants to receive individually specified tariff information for different card categories and brands, prohibits rules forcing merchants to accept all cards within a scheme, and permits merchants to guide consumers toward preferred payment instruments while informing them of applicable fees. Payment service providers must report interchange fee implementation details to Albania's Central Bank as specified by the bank. The regulation enters into force 15 days after publication in the Official Gazette and remains in effect until Albania's accession to the European Union. Albania's Central Bank serves as the responsible supervisory authority, with enforcement powers including supervisory measures and sanctions under payment services legislation.

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Bank of Albania Publishes Draft Regulation on Interchange Fees for Card-Based Payments

On June 20, 2026, the Bank of Albania published the Draft Regulation "On Interchange Fees for Card-Based Transactions". Payment service providers shall not charge or require an interchange fee for any transaction that is higher than: 0.2 percent of the transaction value, when it is carried out with a debit card. 0.3 percent of the transaction amount, when it is carried out with a credit card. Card payment schemes and processing entities: Must be independent with respect to accounting, organisation and decision-making processes. Do not present the prices for the card payment scheme and processing activities in a bundled manner and do not cross-subsidise these activities. Do not discriminate in any way between their affiliates or shareholders, users of the card payment schemes and other contractual partners. The Bank of Albania may require a card payment scheme to provide an independent report confirming the scheme's compliance.
3256358 pc Jun 20, 2026 rghosh Kenya Weekly Bulletin | CBK horizon scanning
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Kenya's Central Bank Introduces New Banking Fees Regulations to Replace 1994 Framework

In April 2026, the Central Bank of Kenya (CBK) published a Regulatory Impact Statement on the Banking (Fees) Regulations, 2026, which will replace the Banking (Fees) Regulations, 1994. The new regulations, developed pursuant to Section 55(1) of the Banking Act, establish application fees payable to the CBK, prescribe the manner of fee payment, define sanctions for non-payment, and set annual fee rates for CBK-licensed institutions. The CBK undertook this comprehensive regulatory overhaul to align supervisory costs with modern banking dynamics and international standards. Kenya's banking sector has experienced substantial growth over the past 32 years: total assets increased more than 40-fold from Kenyan Shilling (Ksh) 202 billion in 1994 to Ksh 8.4 trillion by December 2025; deposits increased more than 34 times; and the loan portfolio expanded more than 37 times. Despite this expansion, annual fees for commercial banks remained unchanged since 1994. The CBK's regulatory mandate has become increasingly complex, requiring enhanced resources for consolidated and cross-border supervision, anti-money laundering and counter-terrorism financing (AML/CTF) activities, and cybersecurity measures. The CBK evaluated multiple fee methodologies—branch-based, deposit-based, asset-based, revenue-based, and standard set fees—before adopting a Gross Annual Revenue (GAR) methodology. The initial proposed rate of one percent, prorated over three years, was revised downward to 0.15 percent of GAR following stakeholder consultation. A sensitivity analysis confirmed the proposed fees will not adversely affect profitability or convert profitable institutions into loss-making entities. The regulations will enhance supervisory oversight to strengthen banking sector integrity. The CBK recommends adoption and publication of the Banking (Fees) Regulations, 2026, with implementation details and compliance dates outlined in the accompanying schedule.

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Central Bank of Kenya Introduces New Banking Fees Regulations

On June 20, 2026, the Central Bank of Kenya (CBK) announced the publication of a Regulatory Impact Statement on the Banking (Fees) Regulations, 2026, which will replace the Banking (Fees) Regulations, 1994 . The new regulations, establish: Application fees payable to the CBK. Prescribe the manner of fee payment. Define sanctions for non-payment. Set annual fee rates for CBK-licensed institutions. The CBK recommends adoption and publication of the Banking (Fees) Regulations, 2026.
3254349 pc Jun 19, 2026 pthandapani India Securities and Exchange Board of India financial services
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Securities and Exchange Board of India Launches Consultation on Margin Trading Facility Framework Review

On June 18, 2026, the Securities and Exchange Board of India (SEBI) launched a consultation on the review of the Margin Trading Facility (MTF) framework. The MTF allows investors to trade securities using borrowed funds, amplifying both potential gains and losses. SEBI's consultation seeks to gather stakeholder feedback on potential modifications to the existing MTF regulations that govern how brokers and market participants facilitate margin-based trading in Indian securities markets. The consultation addresses the regulatory framework governing margin trading practices, including borrowing limits, risk management procedures, and investor protection mechanisms. SEBI is reviewing the MTF framework to ensure it remains aligned with current market conditions, technological developments, and international best practices while maintaining appropriate safeguards for retail investors. The review considers how margin trading practices have evolved since the framework's last significant update and whether existing regulations adequately address emerging risks in leveraged trading activities. The consultation is relevant to brokers, investment firms, market participants engaged in margin trading, and retail investors utilising MTF services. SEBI's review aims to balance market efficiency with investor protection, particularly given the risks associated with leveraged trading instruments. Stakeholders can submit their comments and feedback through SEBI's public comments portal. The specific comment deadline has not been provided in the available source material. Responses will inform SEBI's development of any revised MTF guidelines or regulatory amendments. REFERENCES: https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes

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Securities and Exchange Board of India Launches Consultation on Margin Trading Facility Framework Review

The Securities and Exchange Board of India (SEBI) has issued a consultation paper on the review of the margin trading facility (MTF) framework. The consultation paper contains: New provisions proposing a uniform list of eligible collaterals for both cash and MTF transactions, allowing EPI sell credits as collateral, and granting a 30-day rebalancing period if a security moves out of the Group I or Trade-for-Trade categories. Regulations expanding the permitted sources of funds for MTF to include non-convertible debentures (NCDs) and other debt instruments, while increasing the minimum net worth eligibility for stock brokers from INR30m (US$317,800) to INR50m (US$529,650) and allowing limited liability partnerships (LLPs) to offer these services. Provisions outlining that a broker's maximum MTF exposure can reach up to 5.5 times their remaining net worth after ring-fencing a specified amount, and clarifying that passive breaches of the 10 percent single-client limit will not be treated as violations if corrected within 30 days. Administrative measures mandating all stock exchanges to jointly prepare a uniform rights and obligations (R&O) document within 30 days to ensure clarity for brokers and clients. Directives permitting the fungibility of unencumbered funds or securities between a client's normal ledger and MTF ledger, while maintaining the higher maintenance margin requirement of value at risk (VaR) plus 5 times the extreme loss margin (ELM) when cash margin is used as pay-in. Feedback may be submitted via this link by July 9, 2026.
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