Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
BSP Proposes Asset-Based Fine Framework for Bank Reporting Lapses in Philippines
The Bangko Sentral ng Pilipinas has proposed graduated fines of up to PHP 10,000 per day for large banks that fail to submit regulatory reports on time.
UAE formalises Digital Dirham as legal tender under new central bank law
Federal Decree-Law No. 6 of 2025, in force from 16 September 2025, replaces the 2018 central bank law and extends the CBUAE's remit to open finance and virtual-asset payment services.
Vietnam's State Bank Enacts Circular 27/2025 Requiring AML Reporting for Domestic Transfers Above VND 500 Million
Vietnam's SBV has enacted Circular 27/2025, mandating that banks file AML reports for domestic electronic fund transfers of VND 500 million or more, as Vietnam works to address its FATF grey-listing.
ANZ Admits Widespread Misconduct and Agrees to A$240 Million in Penalties Across Four ASIC Proceedings
ANZ admitted to unconscionable conduct and consumer misconduct affecting nearly 65,000 customers, agreeing with ASIC to seek A$240 million in Federal Court penalties.
Nigeria's Banking Sector Divides as Only Six Listed Banks Meet CBN Recapitalisation Threshold
Only six of Nigeria's 13 listed banks had met the CBN's new minimum capital requirement by September 2025, leaving the remainder facing mergers, capital raises, or licence downgrades.
FINTRAC Imposes $1.175 Million Penalty on Saskatchewan Indian Gaming Authority for AML Violations
Canada's FINTRAC has levied a $1.175 million administrative monetary penalty on SIGA for three violations of the Proceeds of Crime Act, which SIGA has appealed to the Federal Court.
OSFI Toughens Administrative Monetary Penalty Regime for Federally Regulated Financial Institutions
OSFI issued new AMP enforcement guidance on 11 September 2025, lowering its tolerance for contraventions and imposing penalties more promptly, including for minor infractions.
FDIC Revises Enforcement Manual to Allow Consent Order Termination on Substantial Compliance
The FDIC updated its Enforcement Actions Manual on 8 September 2025 to allow consent orders to be terminated on substantial compliance, replacing a full-compliance requirement.
Central Bank of Nigeria sets up compliance department covering financial crime, conduct, cyber risk and ESG
The CBN told banks and other financial institutions that a new Compliance Department now supervises non-prudential risks, from AML and sanctions to market conduct, cybersecurity and governance.
Bank of Ghana suspends Flutterwave and Cellulant remittance partnerships and bars Halges
Ghana's central bank suspended the remittance partnerships of Flutterwave and Cellulant Ghana for one month from 18 September 2025 and barred Halges Financial Technologies from remittance activities pending its approval.
Eleven Kenyan banks face Ksh 15 billion capital shortfall ahead of December deadline
Eleven Kenyan commercial banks must collectively raise about Ksh 15bn in core capital by December 2025 to meet the new Ksh 3bn minimum, or risk losing their licences.
Vietnamese banks set to close about 86 million accounts that failed biometric verification
Commercial banks in Vietnam were due to start closing accounts without completed biometric authentication from 1 September 2025, after the State Bank of Vietnam identified nearly 86 million inactive accounts.