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MLOLA License Revoked - Derek Shamo, Enforcement Case No. 25-18668

Michigan DIFS issued an Order Accepting Stipulation revoking the MLOLA license of mortgage loan originator Derek Shamo (NMLS ID: 784282) retroactively to April 28, 2024, after finding he provided false asset documentation to lenders in violation of the Mortgage Loan Originator Licensing Act. DIFS has prohibited Shamo from servicing, processing, underwriting, or originating any loans, and from being a control person of any licensee under the MBLSLA or Consumer Financial Services Act. The prohibitions may be lifted after five years upon application to the Director.

Prime Mortgage Funding Inc License Revoked for False Asset Documentation

MI DIFS issued an Order Accepting Stipulation revoking Prime Mortgage Funding Inc's mortgage broker license (FL-0020387, NMLS ID: 1475017), retroactively effective December 31, 2024. The action stems from DIFS allegations that the company provided false asset documentation to lenders, violating Section 22(b) of the Mortgage Brokers, Lenders, and Servicers Licensing Act (MBLSLA). The company neither admitted nor denied the allegations but agreed to the stipulation to resolve Enforcement Case No. 25-18668.

GASB Exposure Draft on Infrastructure Assets Recognition, Measurement, and Disclosures

The Governmental Accounting Standards Board (GASB) has issued an Exposure Draft proposing comprehensive guidance on infrastructure asset financial reporting. The proposal addresses definition, recognition, measurement, and note disclosure requirements for state and local government infrastructure assets. Comments are requested by June 26, 2026.

Warning: Afitaustin.com Operating Without Authorization in Luxembourg

The CSSF issued a warning on April 10, 2026, that the website www.afitaustin.com and its operators are not authorized to provide investment services or other financial services in or from Luxembourg. The entity used the name 'Afitaustin' and contact details including support@afitaustin.com and phone number +54 351 5938 2741. The CSSF has not granted any authorisation to this entity and it is not supervised by the CSSF.

Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company

The Federal Reserve published a notice announcing one change in bank control application under the Change in Bank Control Act. The Zachariah Spalj Escrow Trust and related parties seek to acquire voting shares of Deerwood Bancshares, Inc. and join the Spalj Family Control Group. Comments on the application are due by April 28, 2026.

CEO Pollard Fined $25,000 for Late Insider Reports

The BC Securities Commission fined Andrew Pollard, CEO of Blackrock Silver Corp., $25,000 for failing to file timely insider reports on the System for Electronic Disclosure by Insiders (SEDI). Between 2019 and 2025, Pollard failed to report 161 securities transactions valued at more than $950,000 within the required five-day deadline. Pollard voluntarily disclosed his failures, completed all required SEDI filings, and paid $5,700 in late fees.

Assignment of Lead Bank Responsibility for New Districts Polavaram and Markapuram in Andhra Pradesh

The Reserve Bank of India has assigned Lead Bank responsibility for two newly created districts in Andhra Pradesh to Union Bank of India. Polavaram district receives working code 02X and Markapuram district receives working code 02Y. The RBI notification confirms no changes to Lead Bank responsibilities for existing districts in the state.

Master Direction on Non-Resident Investment in Debt Instruments – Amendment

RBI issued A.P. (DIR Series) Circular No. 06 amending the Master Direction on Non-Resident Investment in Debt Instruments, 2025. The amendment consolidates directions relating to investments in debt instruments by Non-Resident Indians and use of such debt instruments as collateral for exchange traded derivative contracts. AD Category-I banks are required to notify constituents of the updated Master Direction.

ERGO Czech Portfolio Transfer to Generali Approved by FMA

The Austrian Financial Market Authority (FMA) granted approval for ERGO Versicherung Aktiengesellschaft (Vienna) to transfer its Czech branch establishment's portfolio of legal expenses insurance contracts to Generali Česká pojišťovna a.s. (Prague). The transfer was authorized via administrative decision dated 11 March 2026.

FMSG Recommends 0% Countercyclical Capital Buffer, Reviews AI and Stablecoins

The Financial Market Stability Board (FMSG) held its 48th meeting on 09 April 2026, recommending the FMA maintain a countercyclical capital buffer (CyCB) at 0% of domestic risk-weighted assets. At year-end 2025, three of sixteen indicators showed increased cyclical risks, while both Credit-to-GDP gap indicators remained below critical thresholds. The Board also reviewed impacts of AI and stablecoins on financial market stability, assessing stablecoin risks as currently low.

Extension of Regulation 14C and Schedule 14C Information Collection Under OMB Control No. 3235-0057

The SEC published a notice seeking public comments on extending OMB Control No. 3235-0057 for Regulation 14C and Schedule 14C under the Paperwork Reduction Act. Regulation 14C (17 CFR 240.14c-1 through 14c-7) sets requirements for information statements that issuers who do not solicit proxies must provide to security holders. The SEC estimates 149.74 hours per response with 354 annual respondents, totaling 39,756 hours of annual reporting burden and $7,951,194 in external professional costs.

SEC Form ADV-H Extension Requested for OMB Review

SEC Form ADV-H Extension Requested for OMB Review

CFTC Announces Innovation Task Force Staff

The CFTC announced the members of its Innovation Task Force (ITF), led by Michael J. Passalacqua. The ITF comprises staff from various CFTC divisions and offices, as well as individuals with private sector experience in crypto assets, blockchain, AI, and prediction markets. The task force will work with the Commission to develop a clear regulatory framework for innovators in these emerging technology areas.

CFTC Reintroduces Agricultural Advisory Committee and Announces Members

The CFTC announced the re-establishment of its Agricultural Advisory Committee and named 37 members from across the agricultural sector. Chairman Michael S. Selig will sponsor the committee, with Emma Johnston serving as designated federal officer. The AAC aims to provide a direct communication channel between the CFTC and agricultural market participants to inform policy decisions affecting farmers and ranchers nationwide.

Court Blocks Arizona Criminal Charges Against CFTC-Regulated Prediction Markets

The CFTC obtained a temporary restraining order from the U.S. District Court for the District of Arizona blocking Arizona from pursuing criminal charges against CFTC-regulated designated contract markets. The court action follows the CFTC's complaint seeking declaratory judgment that federal law grants the CFTC exclusive authority to regulate event contracts. Arizona's attempt to apply state criminal law to federally regulated prediction markets was deemed preempted by federal law.

FDIC Rescinds Supervisory Guidance on Multiple Re-Presentment NSF Fees

The FDIC has rescinded FIL-32-2023, which previously described the agency's supervisory approach regarding multiple non-sufficient funds (NSF) fees arising from the re-presentment of unpaid transactions. The FDIC concluded that FIL-32-2023 was overly broad in scope and created uncertainty about when re-presentment disclosures might raise unfairness concerns under Section 5 of the FTC Act. The rescission is effective immediately.

Industry Groups Propose £6B Commodity Derivatives Clearing Threshold Response to FCA

ISDA, CMCE, ETE, and FIA submitted a joint response to FCA's Quarterly Consultation CP26/8 proposing an increase to the commodity derivatives clearing threshold under UK EMIR. The industry groups support raising the threshold from €3 billion but advocate for €6 billion rather than the FCA's proposed €5 billion, citing changes in market structure, commodity prices, and volatility since the original threshold was set over a decade ago. The response notes this is a temporary measure pending a comprehensive Treasury review of Title II of UK EMIR.

Using Credit Data to Identify Financial Distress Risk

The FCA has published a blog post explaining its proof-of-concept using credit file data from a major Credit Reference Agency and advanced statistical methods to track consumer credit journeys and identify financial distress risk earlier. The approach assigns consumers to 5 segments (Distress, At Risk, Vulnerable, Coping, and Healthy) to spot patterns of emerging or disproportionate harm among consumer groups. The FCA will eventually incorporate Product Sales Data to further identify triggers of financial distress across different consumer groups.

Third Extension Order, Fair Fund Distribution

The SEC issued a third extension order granting the Division of Enforcement until July 31, 2026, to submit a Proposed Plan of Distribution for the $105,481,755.94 Fair Fund established in connection with settled cease-and-desist orders against VTB Capital plc and Credit Suisse Group AG. The extension is needed to complete development of the distribution methodology. The underlying 2021 orders resolved FCPA violations involving an offering fraud with Mozambican state-owned entities from 2013-2016.

SEC Orders Second Disbursement of $17,266 to Poloniex Investors

The SEC has ordered the transfer of $17,266.07 from the Poloniex Fair Fund to the escrow account at The Huntington National Bank for distribution to investors. This is the second disbursement; a prior order distributed $4,584,409.75. The remaining balance in the Fair Fund is $6,533,379.53, with a reserve of $319,034.38 for taxes and administrative costs. The disbursement will compensate claimants not included in the initial distribution who have since cured or filed their claims.

FSC Chairman Meets AMCHAM Korea Chairman to Discuss Financial Hub Competitiveness

FSC Chairman Lee Eog-weon met with AMCHAM Korea Chairman James Kim on April 10, 2026 to discuss ways to strengthen Korea's financial hub status and attract foreign investments. The meeting addressed AMCHAM Korea's 'Korea's Financial Hub Agenda' report and follow-up measures for MSCI developed markets index inclusion. Seoul ranked 8th and Busan 23rd in GFCI 39.

Scam Alert: Bank of Singapore Fraudulent Social Media Account

The HKMA issued a scam alert on 10 April 2026 warning members of the public about a fraudulent social media account associated with Bank of Singapore Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks directing them to conduct transactions, nor will they request sensitive information such as login passwords or One-Time Passwords by phone, email, or SMS. Individuals who may have disclosed personal information or conducted transactions through such scams should contact their bank and report to the Hong Kong Police Force at 2860 5012.

HSBC, Anchorpoint Receive Stablecoin Issuer Licences in Hong Kong

The HKMA announced the granting of stablecoin issuer licences under the Stablecoins Ordinance to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited. The licences took effect on 10 April 2026, and the licensees intend to launch business in the coming months. The HKMA maintains a public Register of Licensed Stablecoin Issuers on its website.

OCC, FDIC, NCUA Propose AML/CFT Program Amendments for Banks

The OCC, FDIC, and NCUA have issued a joint notice of proposed rulemaking to amend AML/CFT program requirements for banks. The proposed rule would require banks to establish and maintain effective programs reasonably designed to identify, assess, and mitigate risks of illicit finance, aligning with FinCEN's concurrent proposals under the Anti-Money Laundering Act of 2020. The rule aims to modernize Federal supervision of AML/CFT programs and enhance FinCEN's role in supervision and enforcement.

NCUA Proposes Amendment to Associational Common Bond Requirements for Credit Union Membership

The NCUA Board proposes to amend associational common bond provisions in its Chartering and Field of Membership Manual. The amendment would eliminate an automatic eligibility bar for associations that require purchase of a product or service as a condition of membership, allowing case-by-case evaluation of circumstances instead. Credit unions and groups seeking federal charter may submit comments through June 8, 2026.

ASEAN Finance Ministers and Central Bank Governors Joint Statement 13th AFMGM

ASEAN Finance Ministers and Central Bank Governors issued their 13th AFMGM joint statement reaffirming regional financial cooperation commitments. The statement notes ASEAN's economic growth revised upward to 4.5% for 2025, with FDI inflows exceeding USD 230 billion in 2024 and tourism arrivals reaching 147 million. Ministers expressed concerns over Middle East tensions, geopolitical risks, and trade uncertainties while endorsing priority deliverables including sustainable capital markets, regional payments connectivity, and financial health initiatives under the Philippines' 2026 ASEAN Chairmanship.

Reserve Money and Money Supply Data for fortnight ended March 31, 2026

The Reserve Bank of India released statistical data on Reserve Money and Money Supply for the fortnight ended March 31, 2026. The data has been published via Press Release 2026-2027/67 and is available in downloadable Excel format. No new regulatory requirements or compliance obligations are imposed by this announcement.

Auction of 91-Day, 182-Day and 364-Day Treasury Bills

RBI announces the auction of Government of India Treasury Bills totaling ₹24,000 crore, comprising 91-day (₹12,000 crore), 182-day (₹6,000 crore), and 364-day (₹6,000 crore) tranches. The auction is scheduled for April 15, 2026, with settlement on April 16, 2026. Bids must be submitted electronically via the RBI E-Kuber system during designated timings.

Directions Under Section 35A Read with Section 56 of Banking Regulation Act - Motiram Agrawal Jalna Merchants Cooperative Bank Limited

RBI has issued binding Directions to Motiram Agrawal Jalna Merchants Cooperative Bank Limited, Jalna, effective April 10, 2026, restricting the bank from granting loans, making investments, incurring liabilities, accepting fresh deposits, disbursing payments, or disposing of assets without prior RBI approval. The Directions were imposed due to a shortfall in liquid assets after engagement with the bank's Board and Senior Management failed to produce adequate remedial measures. Depositors are entitled to insurance claims from DICGC up to Rs 5 lakh per depositor.

RBI Cancels Licence of National Urban Cooperative Bank Ltd., Pratapgarh

The Reserve Bank of India has cancelled the licence of National Urban Cooperative Bank Ltd., Pratapgarh, Uttar Pradesh, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The bank ceases all banking business operations effective close of business on April 10, 2026. The RBI cited inadequate capital, non-compliance with regulatory requirements, prejudice to depositor interests, inability to pay depositors in full, and adverse public interest as grounds for cancellation.

Draft NBFC-UL Amendment Directions - Asset Size Criteria and Government NBFC Inclusion

The Reserve Bank of India has issued two draft Amendment Directions for public consultation until May 4, 2026, proposing to replace the existing NBFC-UL identification methodology with an absolute asset size criterion of ₹1,00,000 crore and above. The draft directions also propose including eligible Government owned NBFCs in the Upper Layer and allow all NBFC-UL to use State Government guarantees as credit risk transfer instruments without limit, subject to specified conditions.

Utkarsh 2029: Medium-Term Strategy Framework April 2026-March 2029

RBI has released Utkarsh 2029, its medium-term strategy framework covering April 2026 to March 2029. The framework builds on the prior Utkarsh 2.0 (2023-2025) and includes six strategic pillars: Robust Regulations, Customer Centricity and Inclusive Finance, Competitive Markets, Effective Technology, Future-ready Organisation, and Global India. Progress will be monitored by a Sub-committee of RBI's Central Board.

Four in Ten US Adults Report Fraud Victimization

The ABA Banking Journal reported on an AARP survey finding that approximately 40% of US adults report being victims of fraud. The survey highlights widespread consumer concern about financial scams and fraud schemes targeting Americans across demographic groups.

ABA Recommends Rescinding SEC Item 106 Cybersecurity Disclosure Rule

The American Bankers Association submitted comments to the SEC recommending rescission of Item 106 cybersecurity disclosure requirements applicable to public companies. The ABA's comment letter addresses cybersecurity incident disclosure obligations and suggests revising the current SEC framework for how banks and other public companies must disclose material cybersecurity incidents.

March CPI Reaches 3.3%, Gasoline Prices Surge 21.2%

The ABA Banking Journal reports that the Consumer Price Index for March reached 3.3%, reflecting a re-acceleration driven by a 21.2% surge in gasoline prices. This economic data is published in the ABA Databank section as part of routine economic indicator tracking for the banking industry.

ABA Releases Latest Banking Industry DataBank Statistics

The American Bankers Association released the latest DataBank statistics for the banking industry, providing comparative data on bank financial and operational metrics. The release offers banks benchmark data across various banking performance indicators. No regulatory compliance obligations are imposed by this statistical release.

Factory Orders Steady at $620.1B in February

ABA Banking Journal reports that U.S. factory orders held steady at $620.1 billion in February. This economic indicator provides macroeconomic data for banking compliance professionals monitoring industrial activity. No regulatory actions, compliance obligations, or deadlines are associated with this report.

FDIC Rescinds 2023 Representment NSF Fee Letter

The FDIC has withdrawn its 2023 informal guidance on representment nonsufficient funds (NSF) fees. The rescission removes a prior supervisory expectation regarding how banks assess representment fees on returned transactions. Banks previously adhering to the 2023 guidance may now have increased flexibility in their fee assessment practices.

Michigan Consumer Sentiment Index Drops to 47.6

The American Bankers Association reports that its consumer sentiment indicator fell to 47.6 in April, reflecting declining consumer confidence in economic conditions. This economic sentiment data is published for informational purposes and does not establish any regulatory requirements or compliance obligations.

88% of Leading Banks Deploy Data Solutions, 67% Push Marketing

The American Bankers Association published a survey reporting that 88% of leading banks have deployed financial data solutions for customer engagement, while 67% leverage these insights for marketing purposes. The survey examines how banks are using financial data insights to enhance customer engagement strategies.

ABA Urges CFPB to Revert 2023 Credit Card Plan Survey Changes

The American Bankers Association (ABA) has formally urged the Consumer Financial Protection Bureau (CFPB) to revert changes made to its 2023 credit card plan survey methodology. The ABA's recommendation seeks to restore prior survey parameters for assessing credit card issuer practices and compliance. The CFPB's survey is used to inform regulatory oversight of credit card issuers.

Canada Gazette Part III: Acts of Parliament Index 2025

Justice Canada published the Canada Gazette Part III index for 2025, listing six Acts of Parliament that received Royal Assent. The indexed acts include the An Act to amend the Department of Foreign Affairs, Trade and Development Act (supply management) (S.C. 2025, c. 1), the One Canadian Economy Act (S.C. 2025, c. 2), and four Appropriation Acts for the 2025–26 fiscal year (S.C. 2025, c. 3–6). An Act to amend the Citizenship Act (2025) (S.C. 2025, c. 5) is also included.

OCC and FDIC Final Rule Codifying Elimination of Reputation Risk from Bank Supervision

The OCC and FDIC have adopted a final rule to eliminate reputation risk from their supervisory programs. The rule prohibits the agencies from criticizing or taking adverse action against banks based on reputation risk, and from requiring institutions to close accounts or modify services based on political, social, cultural, or religious views or constitutionally protected speech. The rule also forbids supervisory actions designed to punish lawful business activities the agencies disfavor.

OCC Meets Anchorage Digital Bank, April 8

The Office of the Comptroller of the Currency (OCC) published a meeting record documenting its April 8 meeting with representatives of Anchorage Digital Bank. The document provides a summary of the regulatory discussion between OCC officials and the digital asset bank's leadership. This type of meeting reflects the OCC's ongoing supervisory engagement with federally regulated institutions engaged in digital asset activities.

OCC Anti-Money Laundering Rule Comment Form

The Office of the Comptroller of the Currency (OCC) is accepting public comments on a proposed anti-money laundering rule through its Regulations.gov portal. Commenters may submit up to 5,000 characters directly or attach files up to 10MB. The consultation applies to national banks, federal savings associations, and other OCC-regulated entities subject to Bank Secrecy Act requirements.

AML/CFT Programs for Banks Proposed Rule

The OCC, FDIC, and NCUA have proposed amendments requiring banks to establish and maintain effective anti-money laundering and countering the financing of terrorism (AML/CFT) programs reasonably designed to identify, assess, and mitigate illicit finance risks. The proposed rule would align with FinCEN's concurrent proposals implementing the Anti-Money Laundering Act of 2020 and enhance FinCEN's role in AML/CFT supervision and enforcement. Comments are due June 9, 2026.

OSC Alleges Securities Fraud Against Emerita Resources Corp and Associated Individuals

The Ontario Securities Commission announced enforcement proceedings against Emerita Resources Corp., five directors and officers, and one related individual for alleged securities fraud. The OSC alleges the individuals diverted lithium mining claims in Brazil (the Falcon Project) to a newly formed company, Lithium Ionic Corp., for their personal benefit while misleading Emerita investors about the project's status. The OSC also alleges misleading statements regarding a zinc project in Spain and that two individuals misled OSC investigators. A case management hearing is scheduled before the Capital Markets Tribunal on May 8, 2026.

Federal Reserve Approves Burke & Herbert Financial Services Corp. Merger with LINKBANCORP

The Federal Reserve Board approved the application by Burke & Herbert Financial Services Corp. of Alexandria, Virginia, to merge with LINKBANCORP, Inc. of Camp Hill, Pennsylvania, thereby indirectly acquiring LINKBANK. The Board also approved Burke & Herbert Bank and Trust Company to merge with LINKBANK and establish and operate branches at LINKBANK locations.

Vermont Securities Regulation Revised

The Vermont Department of Financial Regulation has revised Regulation S-2016-01 governing securities regulation in the state, updating requirements for broker-dealers, investment advisers, and securities issuers. The revision takes effect April 10, 2026.

Malaysia Economic Statistics Report February 2026

Bank Negara Malaysia published its monthly economic statistics for February 2026, containing monetary and banking data, financial and capital market indicators, external sector statistics, insurance and takaful data, and other macroeconomic indicators. The release includes updates to statistical datasets, new data series on credit to the private non-financial sector, and downloadable Excel and PDF files.