Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Senegal enacts Law 2025-04 transposing WAEMU uniform law on microfinance institutions
Senegal's new microfinance law replaces the framework for decentralised financial systems, renaming them microfinance institutions and tightening governance, client-protection and supervisory rules.
OCC Terminates 2018 Consent Order Against Wells Fargo, Marking Tenth Closure Since 2019
The OCC closed its 2018 compliance risk management consent order against Wells Fargo — the bank's tenth consent order terminated since 2019, with four orders from three regulators still in force.
Lisbon Appeals Court Overturns €225 Million in Fines Against Eleven Portuguese Banks in 'Banking Cartel' Case
Portugal's Lisbon Court of Appeal annulled €225 million in fines against eleven banks, ruling the 'banking cartel' case was time-barred under the statute of limitations.
Bahrain's Central Bank Reports Halving of Capital Markets Enforcement Actions in 2024
The CBB's 2024 compliance report recorded 13 non-compliance cases and 3 enforcement escalations, half the prior year's figures, which the CBB said indicated improved adherence among listed firms.
South Africa's Prudential Authority directs banks to submit regulatory returns under Directive 1 of 2025
D1/2025, effective 1 February 2025, sets out the Banks Act returns banks must submit to the PA as the regulator works to move the returns out of the Regulations relating to Banks under its Umoja project.
Spain fines Banca March €605,424 for very serious anti-money laundering breaches
The Council of Ministers imposed two fines of €302,712 and public reprimands over due diligence and special examination failures; the bank has appealed to the Supreme Court.
DNB Fines de Volksbank €20 Million for AML Failures and Risk Management Deficiencies
De Nederlandsche Bank imposed two administrative fines totalling €20 million on de Volksbank for broad risk management failures (2018 to 2023) and AML shortcomings (2020 to 2023).
SFC Fines Hang Seng Bank HK$66.4 Million for Investment Product Misconduct Spanning Nine Years
The SFC has fined and reprimanded Hang Seng Bank HK$66.4 million for regulatory failures spanning nine years, including unsuitable product sales and overcharging clients at least HK$22.4 million.
South Africa's Standard Bank Fined R13 Million by Prudential Authority for FIC Act Violations
South Africa's Prudential Authority has imposed a R13 million penalty on Standard Bank for six violations of the FIC Act, including failures to report thousands of suspicious transactions.
India's RBI Penalises Jammu and Kashmir Bank Over Basic Savings Account Compliance Failures
India's RBI has fined Jammu and Kashmir Bank ₹3.318 crore for lapses in complying with its directions on Basic Savings Bank Deposit Accounts, KYC and loans and advances.
RBI Fines Canara Bank ₹1.636 Crore for Priority Lending and Deposit Account Breaches
The Reserve Bank of India announced on 24 January 2025 a ₹1.636 crore penalty on Canara Bank, imposed by an order dated 7 January 2025, for non-compliance with priority sector lending, interest rate on deposits, and basic savings account norms.
Indonesia's OJK Issues Regulation 30/2024 on Financial Conglomerates and Holding Companies
Indonesia's OJK issued Regulation No. 30 of 2024 governing financial conglomerates and holding companies, superseding OJK Regulation 45/2020 and implementing the P2SK Law.