Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
UAE and Morocco central banks signed supervisory and payments cooperation agreements
The UAE and Moroccan central banks signed two agreements covering supervisory information-sharing, Islamic finance and possible links between their instant-payment platforms, national card switches and financial-messaging systems.
Hong Kong granted Bakai Bank restricted licence for regional expansion
Hong Kong's monetary authority granted Kyrgyzstan's Bakai Bank a restricted licence, making it the seventeenth institution in that tier and the first Central Asian bank authorised to establish a branch there.
BCEAO mandated PI-SPI for regional electronic-money transfers across West Africa
BCEAO required interoperable electronic-money transfers to use PI-SPI from 2 November, while making domestic transfers up to CFA8,000 free and extending equivalent cross-border terms from June 2027.
South Korea ordered wider financial-sector probe after bank data breaches
President Lee Jae Myung ordered a broad investigation after cyberattacks hit major South Korean banks, while regulators demanded immediate system checks and stronger access controls across finance.
US SEC censured JPMorgan over 800 swaps involving disqualified employee
The SEC censured two JPMorgan entities after finding a disqualified employee executed or supervised at least 800 security-based swap transactions between November 2021 and March 2024.
US community banks sued OCC over crypto trust charter framework
The Independent Community Bankers of America sued the OCC, challenging a framework used to approve 21 national trust banks, at least 13 tied to cryptocurrency companies.
Morocco’s lower card interchange caps took effect across domestic payments
Morocco cut the general ceiling on domestic card interchange fees to 0.50% from 0.65%, with a 0.15% cap for government and proximity-commerce payments taking effect on 1 October.
ECB vice-president backed simpler European bank rules without lower capital
ECB Vice-President Boris Vujčić backed consolidating Europe’s bank capital stack into two buffers while preserving overall resilience, alongside simpler resolution rules and a proportionate regime for smaller lenders.
US Treasury sanctioned A7 network as FinCEN proposed payment restrictions
The US Treasury sanctioned the A7 network as a significant transnational criminal organisation, while FinCEN proposed barring covered institutions from certain funds transfers involving identified subagents.
Lebanon’s President Challenged Amended Bank Resolution Law Before Constitutional Council
President Joseph Aoun challenged Article 3 of Lebanon’s amended bank resolution law, prompting a constitutional review that the IMF said could affect whether the reform meets international standards.
UK FCA opened crypto authorisation gateway ahead of 2027 regime
The UK Financial Conduct Authority opened applications for crypto firms until 28 February 2027, ahead of a comprehensive regulatory regime taking effect on 25 October 2027.
Vietnam’s central bank set phased Basel III liquidity rules for lenders
Vietnam’s central bank raised the loan-to-deposit ceiling to 95% and scheduled LCR and NSFR requirements from October 2028 under Circular 50, with full ratios phased in by 2033.