Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Central Bank of Nigeria sets N100 million penalty for FX deals without proper documents
Nigeria’s revised Foreign Exchange Manual, effective 1 June 2026, sets a N100 million fine for authorised dealers that process FX transactions without adequate documentation.
India exempts foreign investors from tax on government securities income
An ordinance promulgated on 5 June removes tax on interest and capital gains from government securities for foreign institutional investors and the BIS, backdated to income from 1 April 2026.
Pakistan's SECP fines 36 state-owned firms over governance non-compliance issues
Pakistan's securities regulator fined 36 state-owned enterprises a total of Rs3.175 million for non-compliance and governance violations, imposing penalties for breaches of corporate governance and regulatory requirements.
India's RBI proposes more flexibility for banks pricing rupee bulk deposits
The Reserve Bank of India issued draft directions that would give banks greater flexibility to price rupee bulk deposits, while ensuring uniformity in the disclosure of interest rates on deposits.
Federal Reserve sharpens focus on US banks' private credit exposures, Bowman says
The Federal Reserve began collecting data from banks to clarify how their funding supported private credit, Federal Reserve Vice Chair for Supervision Michelle Bowman told lawmakers, signalling heightened supervisory scrutiny.
Bank of England and FCA review memorandum on UK financial market infrastructure supervision
The regulators' annual joint statement said feedback from clearing houses, exchanges and securities depositories showed their cooperation arrangements remain effective, with no material duplication.
Hong Kong gazettes banking bill to modernise regulation and ease compliance burden
The Banking Legislation (Miscellaneous Amendments) Bill 2026 covers bank holding companies, skilled-person reviews, enforcement powers and a move to a two-tier banking system, and goes to the Legislative Council on 17 June.
UK Prudential Regulation Authority chief says AI cyber security risk tops threats list
Sam Woods, outgoing head of the UK Prudential Regulation Authority, said AI-driven cyber security risk was at the top of the list of threats, and he warned about lenders' IT vulnerabilities.
IOSCO publishes final report and recommendations on valuing collective investment schemes
The global securities-regulator body set out recommendations on valuation governance, conflicts of interest, methodologies, third-party valuation providers and transparency for CIS.
OCC Issues Consent Order Against Community Federal Savings Bank Over BSA/AML Deficiencies
The Office of the Comptroller of the Currency cited failures in the New York-based lender's anti-money laundering compliance programme.
Basel Committee Agrees to Publish ICT Risk Management Report and Advances Cryptoasset Standards Review
The Basel Committee agreed to publish a report on ICT risk management practices and progressed an expedited review of the prudential standard for banks' cryptoasset exposures.
ACPR Fines Société Générale €20 Million for Failing to Disclose Bundled Insurance Information
France's ACPR fined Société Générale €20 million and issued a reprimand over pre-contractual information and advice failings on an insurance contract automatically included in its Sobrio bundled offer.