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Consolidation of Supervisory Instructions - Drafts for Comments

The Reserve Bank of India has published 64 draft consolidated Master Directions for supervisory instructions, seeking public comments by May 8, 2026. The consolidation will repeal 626 circulars across 11 types of regulated entities on up to nine functions/areas. This follows an earlier consolidation of over 9,000 regulatory circulars into 238 Master Directions, aiming to enhance clarity and reduce compliance burden for regulated entities.

RBI invites comments on Draft Governance Amendment Directions

The Reserve Bank of India has issued draft Amendment Directions revising governance requirements for Commercial Banks, Small Finance Banks, Payments Banks, and Local Area Banks. The amendments replace prescriptive 'seven themes' with principle-based guidance and rationalize board reporting requirements to enable more focused engagement on strategy and risk governance. Public comments are invited until May 7, 2026.

OSC Dialogue 2026: Competitive Edge - Toronto Conference

The Ontario Securities Commission announced OSC Dialogue 2026, a full-day conference scheduled for April 21, 2026, at the Fairmont Royal York in Toronto. The event brings together policy and regulatory experts to discuss capital market competitiveness, digital assets regulation, investor protection, and financial crime prevention. Media registration is open via the OSC.

OSC Establishes New Capital Markets Advisory Committee

The Ontario Securities Commission announced the establishment of a new Capital Markets Advisory Committee (CMAC) on a pilot basis. The committee will provide strategic insight on trends affecting Ontario's capital markets and advise on proposed rules and regulatory initiatives. Applications from senior leaders across Ontario's capital markets are due by April 30, 2026.

Court Order for Keyera Acquisition Investigation

The Competition Bureau obtained a Federal Court order requiring Inter Pipeline Ltd to produce records and information relevant to its investigation of Keyera Corp's proposed acquisition of Plains All American Pipeline LP's Canadian natural gas liquids business. The Bureau is assessing whether the transaction would substantially lessen competition or create barriers for competitors and new market entrants in Canada's oil and gas midstream industry.

FOMC Minutes Released, March 17-18 2026 Meeting

The Federal Reserve released the minutes of the FOMC meeting held on March 17-18, 2026. The minutes, published on April 8, 2026, describe economic and financial conditions considered by the Committee and are typically released three weeks after policy decisions. The full minutes are available in HTML and PDF formats on the Board's website.

Law on Credit Institution and Investment Firm Failure (Consolidated)

CSSF published the consolidated version of the Law of 18 December 2015 on the failure of credit institutions and certain investment firms, updated through April 2026. The law establishes the legal framework for managing the resolution and orderly winding-up of failing credit institutions and investment firms in Luxembourg, transposing relevant EU directives including BRRD. The consolidated text applies to credit institutions, investment firms, and consumers under CSSF supervision.

APRA Applies Additional $2m Capital Requirement to Sovereign Insurance Australia

APRA has applied an additional $2 million capital requirement to Sovereign Insurance Australia Pty Ltd (SIA) due to the insurer's heightened risk profile. APRA identified serious deficiencies in SIA's risk management framework and operational risk management, compounded by failures to comply with prudential standards and lodge audited financial accounts. The capital requirement takes effect immediately and will remain until APRA's concerns are fully addressed.

Michelle Alexopoulos Speech - OEA/CABE Spring Policy Conference

Bank of Canada announces External Deputy Governor Michelle Alexopoulos will deliver remarks at the Ottawa Economics Association and Canadian Association of Business Economics Spring Policy Conference on May 13, 2026 in Ottawa, Ontario. Remarks will be published on the Bank's website with live webcast available.

Treasury NPRM Defines State Stablecoin Regimes Substantially Similar to Federal

The U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (NPRM) to implement principles from the GENIUS Act for determining when state-level regulatory regimes for stablecoin issuers are "substantially similar" to the federal framework. The proposal defines the "federal regulatory framework" to include OCC implementing rules, BSA/AML/sanctions requirements, and Federal Reserve anti-tying regulations. It distinguishes between "uniform requirements" (one-to-one reserve backing, BSA/AML obligations) and "state-calibrated requirements" (capital, liquidity standards). Comments are due 60 days after Federal Register publication.

FCA Joint Taskforce Targets Motor Finance Claims Misconduct

The UK FCA has announced a joint taskforce with the Solicitors Regulation Authority, Information Commissioner's Office, and Advertising Standards Authority to tackle poor practices in motor finance claims handling. The taskforce will share intelligence and take coordinated enforcement action targeting unsolicited and misleading advertising, meritless claims, multiple representation, and unfair exit fees by claims management companies and law firms. This announcement follows the FCA's publication of its final policy statement on the motor finance redress scheme.

SEC Staff Grants No-Action Relief Under Rule 15c3-3 to Permit Use of Customer Equity Collateral in Securities Lending

The SEC Division of Trading and Markets issued a no-action letter permitting broker-dealers, under specified conditions, to pledge customer margin equity securities (Russell 1000 or S&P 500 stocks) as collateral to borrow securities for customer short sales and fails to deliver. The relief allows a debit under Item 11 of the Reserve Formula equal to market value of borrowed securities, representing a shift from restrictions limiting permissible collateral to cash, qualified securities, or letters of credit.

EBA Final Draft RTS on IRB Model Changes Under CRR

The European Banking Authority published a final report containing draft regulatory technical standards amending the framework for assessing materiality of changes to internal ratings-based (IRB) models under the Capital Requirements Regulation. The RTS introduces stronger quantitative thresholds and narrowed qualitative criteria to reduce the volume of model changes classified as material, addressing supervisory resource strain. The draft RTS will be submitted to the European Commission for endorsement before publication in the Official Journal.

FinCEN's Whistleblower Program for AML and Sanctions Enforcement

FinCEN published a Notice of Proposed Rulemaking on April 1, 2026, proposing to establish a formal Whistleblower Program under the AML Act of 2020 and AML Whistleblower Improvement Act of 2022. The proposed program would provide awards of 10-30% of monetary sanctions exceeding $1 million for tips leading to successful enforcement of BSA, IEEPA, TWEA, and Kingpin Act violations. The program mirrors the SEC whistleblower framework and includes anti-retaliation protections.

ECB Allows Faster Credit Risk Model Changes Starting October

The European Central Bank announced changes to streamline supervision of banks' internal credit risk models, effective October 1. Banks may now implement material model changes shortly after submitting complete applications without maintaining parallel models. When changes reduce risk weights, capital benefits face a supervisory floor cap until the ECB completes on-site review, though on-site investigations no longer automatically accompany material changes.

UK Supreme Court limits principal liability for ARs

The UK Supreme Court reversed the Court of Appeal in KVB Consultants Ltd v Jacob Hopkins McKenzie Ltd, limiting principal liability for appointed representative (AR) activities under FSMA. Principals are no longer exposed to liability for activities expressly prohibited or beyond their own FCA permissions. Financial services firms using AR arrangements gain greater certainty on compliance exposure.

CFTC Signals Crackdown on Prediction Market Insider Trading

Hogan Lovells analyzes CFTC enforcement signals regarding insider trading in prediction markets. Director of Enforcement David Miller named this a 'top priority' at NYU on March 31, 2026. The firm advises public companies to update compliance policies to address employee trading on prediction platforms tied to corporate events.

SEC Appoints David Woodcock as Director of Division of Enforcement

The SEC announced the appointment of David Woodcock as Director of the Division of Enforcement, effective May 4, 2026. Woodcock, currently a partner at Gibson, Dunn & Crutcher LLP, previously served as Director of the SEC's Fort Worth Regional Office from 2011 to 2015. He will succeed Acting Director Sam Waldon and lead the Division's 1,000+ enforcement professionals.

Mosaic Co 8-K Material Impairment Filing

The SEC received Form 8-K Item 2.06 disclosure from Mosaic Co reporting a material impairment event. The filing notifies investors and the public of an impairment charge that may materially affect the company's financial position or asset valuations. Public companies must file such disclosures within four business days of determining a material impairment has occurred.

Landolt Securities Reprimanded and Fined for Dealer Registration Violations

The Texas State Securities Board issued disciplinary Order No. LID-26-CAF-01 against Landolt Securities, Inc., reprimanding the firm and imposing a $10,000 administrative fine for failing to comply with suitability guidelines when selling GWG L Bonds to Texas investors. The firm approved investments that exceeded net worth concentration limits and age thresholds established in its own written supervisory procedures.

Joint Paper on MIFIR PTT Proposals in EC Market Integration Package

ISDA, AFME, ICMA and EBF published a joint paper supporting the European Commission's proposals under MIFIR to narrow post-trade transparency (PTT) requirements. The associations back removing forward rate agreements and basis swaps from public transparency due to their illiquid nature, and support disapplying PTT for OTC derivatives on certain third-country trading venues. The paper urges co-legislators to extend these exemptions to all asset classes and to transactions executed away from trading venues.

ISDA, AFME and ICMA Publish Paper on Removal of SI Regime for Derivatives and Bonds in the UK

ISDA, AFME and ICMA published an updated paper on April 2, 2026, analyzing the practical implications of the systematic internalizer (SI) regime removal for derivatives, bonds and other non-equity financial instruments in the EU and UK. The SI regime was fully removed in the EU in September 2025 and in the UK on March 27, 2026. The associations concluded that the impact of removal has been minimal and is expected to remain so.

Single-sided Derivatives Reporting Data Integrity Paper

ISDA published a paper arguing that single-sided derivatives reporting does not compromise supervisory data quality. The paper addresses regulator concerns about moving from dual-sided reporting and highlights cost reduction and administrative burden benefits aligned with the EU's simplification agenda. The paper also notes enhanced consistency with global reporting regimes.

CISA Advisory Warns Critical Infrastructure of Iran Cyberattacks

The ABA Banking Journal reports that CISA, alongside FBI, NSA, and Treasury agencies, issued a joint advisory warning critical infrastructure operators—including financial institutions and water systems—of increased Iran-linked cyber threat activity. The advisory highlights potential attacks targeting operational technology and claims of successful intrusions by Iranian threat actors against organizations worldwide.

Americans lost $20.9B to cybercrime in 2025

ABA Banking Journal reports FBI data showing Americans lost $20.9 billion to cybercrime in 2025, a 26% increase from the prior year. The article discusses common attack vectors affecting banks and their customers, along with recommended defensive measures. Financial institutions should note the escalating threat landscape when reviewing cybersecurity programs.

FinCEN proposes fundamental Bank Secrecy Act reform

FinCEN and federal banking agencies have proposed a comprehensive overhaul of Bank Secrecy Act compliance requirements for financial institutions. The proposal aims to modernize AML program obligations and reporting thresholds. ABA Banking Journal reports on the reform implications for community and commercial banks.

FDIC Proposes Stablecoin Rulemaking Under GENIUS Act

The FDIC has proposed rulemaking to implement stablecoin regulations under the GENIUS Act framework. The proposal would establish federal oversight requirements for banks and financial institutions engaged in stablecoin issuance, custody, and payment activities. Banks and fintech companies involved in digital asset payments should monitor this development as the comment period opens.

Tenth Circuit to Review Colorado Rate Cap Law

The Tenth Circuit Court of Appeals has agreed to review a Colorado law capping interest rates on consumer loans. The case, which may set precedent for rate cap regulations, will examine whether the state's 36% rate cap violates federal law or preemption principles. Banks and alternative lenders offering consumer credit products in Colorado should monitor this proceeding.

Big tech ad fraud, accountability, KYC rules

The ABA Banking Journal published a podcast episode (Fraudcast) examining how big tech advertising platforms may be facilitating scam ecosystems, and exploring accountability mechanisms and KYC (Know Your Customer) requirements as potential regulatory responses. The episode discusses compliance implications for banks addressing fraud risks linked to digital advertising.

Pittsfield Cooperative and Adams Community Bank Announce Merger, $1.5B Assets

Pittsfield Cooperative Bank and Adams Community Bank announced a merger agreement creating a combined institution with approximately $1.5 billion in assets. The merger would unite two Massachusetts community banks, expanding their market presence and operational scale. Final terms and regulatory approval timeline were not disclosed.

ACH and Stablecoins: Complementary Rails for a Converging Payments Ecosystem

NACHA published a white paper exploring how the ACH Network serves as the primary on- and off-ramp for stablecoin transactions, addressing integration of tokenized money with traditional banking rails. The paper analyzes the GENIUS Act's compliance requirements for payment stablecoin issuers and provides practical guidance on ACH return scenarios, fraud risks, and transaction monitoring for financial institutions entering the stablecoin ecosystem.

Nacha Announces Walrus Security as Preferred Partner for Account Validation and Fraud Prevention

Nacha announced Walrus Security as a new Preferred Partner for Account Validation, Fraud Monitoring, and Risk and Fraud Prevention. Walrus Security's DoubleCheck platform verifies ACH payment details before transactions are released, authenticating counterparty information using multiple identity signals to prevent credit-push frauds such as business email compromise.

IPR Center Partners with Rx-360 to Combat Counterfeit Pharmaceuticals

The National IPR Coordination Center (IPR Center) announced a partnership with Rx-360, the International Pharmaceutical Supply Chain Consortium, to strengthen enforcement against counterfeit pharmaceuticals and medical devices. The IPR Center will share investigative leads and areas of concern with Rx-360's network of pharmaceutical and medical device manufacturers, while both organizations will conduct joint outreach and training at industry events. This collaboration aims to enhance supply chain security and protect patient safety.

Comptroller Statement on Final Rule Eliminating Reputation Risk from Bank Supervision

The OCC and FDIC jointly issued a final rule removing reputation risk as a basis for bank supervisory action. The rule, presented by Comptroller Jonathan V. Gould, prohibits regulators from using subjective reputation-based grounds to deny banking services to lawful businesses and individuals. The rule implements the President's fair banking Executive Order and requires ongoing review of alleged debanking actions at the largest national banks.

FedNow Intermediary Access Proposal

The Federal Reserve Board issued a proposal on April 8, 2026, allowing U.S. banks and credit unions to use intermediaries for FedNow Service fund transfers. Currently, FedNow transfers are limited to two U.S. banks per transaction. The proposal would expand functionality to enable correspondent banking relationships and cross-border payment facilitation. The Federal Reserve is seeking public comments for 60 days following Federal Register publication.

Financial Empowerment Month: NH AG's Office hosting free scam prevention training

The New Hampshire Department of Justice Elder Abuse and Financial Exploitation Unit announced three free community scam prevention sessions in Rochester and Manchester, NH this April. The sessions, part of the 'Protect Your Wallet, Protect Yourself' initiative, target older adults age 60 and older to help them recognize, avoid, and respond to financial fraud.

FTC Consumer Alert regarding phishing scam about expiring reward points

The FTC issued a consumer alert warning about phishing scams targeting reward program members with fraudulent texts claiming points are expiring. The scammer-directed messages attempt to steal personal information or install malware. Consumers are advised to verify reward status directly through official company websites or apps rather than clicking embedded links.

Insurance Producer License Revoked for Consent Violations

MI DIFS issued an Order Accepting Stipulation revoking Samuel Christmas's insurance producer license (Case No. 25-18214). The revocation stems from DIFS allegations that Christmas violated MCL 500.2003(1) by submitting enrollment documents without the knowledge or consent of insureds—a deceptive practice under MCL 500.2018. Christmas admitted the violations and agreed to the revocation as the sole regulatory penalty, with the license revoked effective immediately.

Hassan Jawad Insurance License Revocation - Fraud

Michigan DIFS revoked Hassan Jawad's insurance license (Enforcement Case No. 25-18675) after finding he obtained the license through misrepresentation and engaged in fraudulent or dishonest practices in business under MCL 500.1239. The revocation is effective immediately with a permanent bar on reapplication.

Directors Order - Alicia Ahrens Stipulation Accepted

The Michigan Department of Insurance and Financial Services (DIFS) accepted a stipulation and issued a Directors Order against Alicia Ahrens on April 6, 2026, resolving an enforcement matter involving alleged violations of Michigan consumer financial services and securities statutes (MCL 451.2001 et seq., MCL 451.2101 et seq., and MCL 451.904). The order imposes administrative sanctions and obligations on the respondent following investigation.

Christopher Wodkiewicz License Revoked for Fraud and Misrepresentation

MI DIFS issued an Order Accepting Stipulation revoking the insurance license of Christopher Wodkiewicz (System ID No. 1332769) effective April 6, 2026. Wodkiewicz admitted to obtaining his license through misrepresentation or fraud under MCL 500.1239(1)(a) and to using fraudulent or dishonest practices demonstrating untrustworthiness under MCL 500.1239(1)(g). The license revocation is immediate, with continued jurisdiction retained by DIFS for any compliance violations.

Tyler Reid Insurance License Revocation - Exam Proxy Fraud

MI DIFS issued an Order Accepting Stipulation in Case No. 26-18934, revoking Tyler Reid's insurance license effective April 6, 2026. The revocation stems from Respondent's admission that he obtained a license through misrepresentation by using an exam proxy, constituting fraud under MCL 500.1239(1)(a) and demonstrating untrustworthiness under MCL 500.1239(1)(g). Respondent is permanently barred from reapplying for any DIFS-administered license.

Maximum Effective Rate of Interest for Home Loans - May 2026

The Tennessee Department of Financial Institutions announces the maximum effective interest rate for home loans for May 2026 at 10.43% per annum, calculated as four percentage points above the Average Prime Offer Rate (APOR) of 6.43%. The rate is set pursuant to Public Chapter 290 enacted by the Tennessee General Assembly in 2025.

Weekly Formula Rate of Interest Announcement - April 2026

Commissioner Greg Gonzales announced Tennessee's weekly maximum formula rate of interest at 10.75% per annum, based on a 4% ceiling over the Federal Reserve's weekly average prime loan rate of 6.75%. This rate applies under Chapter 464, Public Acts of 1983, which mandates weekly formula rate announcements.

Central Bank Exempts Principal Home Bridging Loans from LTI Limit

The Central Bank of Ireland published a targeted amendment to its macroprudential mortgage measures, exempting certain principal home bridging loans from the Loan-to-Income (LTI) limit. The exemption applies to short-term bridging loans (maximum 18 months) where repayment comes from property sale proceeds rather than regular income. The LTV limit and all other mortgage measure elements remain unchanged.

Financial Conditions of Credit Unions Report 2025

The Central Bank of Ireland published its annual Financial Conditions of Credit Unions Report for FY2025 ending 30 September 2025. The sector reported total assets of €22.5bn (up 5%), gross loans of €7.7bn (up 8%), and member savings of €18.7bn. The report provides statistical commentary on lending diversification, reserves, and return on assets.

Santander to Acquire Webster Financial Corporation - Federal Reserve Application Notice

The Federal Reserve published a notice that Banco Santander S.A. and Santander Holdings USA, Inc. have applied to acquire Webster Financial Corporation and its subsidiary Webster Bank, National Association, both of Stamford, Connecticut. The application also involves indirect acquisition of MW Advisor entities for investment advisory activities. Public comments on the application must be submitted by May 7, 2026.

Change in Bank Control Act Application - Gregory P. Mayo / First Holding Company of Cavalier

The Federal Reserve Board published notice of an application under the Change in Bank Control Act for Gregory P. Mayo and the Barbara J. Mayo 2020 GST Trust to acquire and retain voting shares of First Holding Company of Cavalier, Inc., which indirectly controls United Valley Bank, both of Cavalier, North Dakota. The public may submit comments on the application through April 23, 2026.

Federal Reserve Bank Holding Company Applications Notice

The Federal Reserve published a notice listing pending bank holding company applications requiring public comment by May 8, 2026. Applications include 1887 Bancorp MHC (StonehamBank conversion), Revolut Group Holdings Ltd. (acquiring Revolut Bank US N.A.), and CSB Financial Inc. (acquiring Community Savings Bank). Interested parties may submit comments to the relevant Federal Reserve Bank or Board of Governors.

Sunshine Act Meeting Notice - April 2026 Board Meeting

The FDIC announced a Sunshine Act Board meeting for April 7, 2026, to consider three items: a proposed rulemaking on GENIUS Act requirements for stablecoin issuers and insured depository institutions, a proposed rulemaking on AML/CFT programs, and a final rule prohibiting use of reputation risk by regulators. The meeting will be open to public observation via webcast.