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Capital Market Exposures Amendment Implementation Deferred to July 2026

The Reserve Bank of India has deferred the effective date of Amendment Directions on Capital Market Exposures by three months from April 1, 2026 to July 1, 2026. The deferral responds to representations from banks and industry associations citing operational and interpretational issues. The amendments include clarifications on acquisition finance (now including mergers), loan caps for individuals against securities, and credit facilities to capital market intermediaries.

India's Invisibles Q3 2025-26 data released

India's Invisibles Q3 2025-26 data released

Walnut Planet GmbH - Capital Investment Offer Without Required Prospectus

BaFin issued a consumer protection alert indicating that Walnut Planet GmbH, registered in Pfäffikon (Schwyz), Switzerland, is offering capital investments in walnut cultivation (combined lease and service agreements in Serbia) to the public in Germany without publishing the required prospectus under section 6 of the German Capital Investment Act (VermAnlG). The investment is offered via walnutplanet(.)com. Investors should verify prospectus approval status in BaFin's prospectus database before engaging with this or similar offerings.

BaFin fines TC Unterhaltungselektronik AG under WpHG for financial disclosure violation

BaFin imposed an administrative fine of €15,000 on TC Unterhaltungselektronik AG on 20 March 2026 for failing to publish the required announcement stating when and where its annual financial information for FY2024 would be publicly available. The company violated Section 40c of the German Securities Trading Act (WpHG), which mandates disclosure of financial report availability to ensure equal access for all stakeholders. The maximum statutory fine for this violation is €10 million or 5% of total revenue.

ISDA Position Paper on EC Market Integration and Supervision Package Proposal

ISDA published a position paper on March 30, 2026, responding to the European Commission's Market Integration and Supervision Package (MISP) proposal. The paper outlines four key reform recommendations: sequencing of Level 1 and Level 2 legislation effective dates, enhancement of no-action relief processes, inclusion of a secondary competitiveness mandate for ESMA, and provisions addressing supervisory failures and service suspensions. The MISP falls under the EU Savings and Investment Union agenda and is currently subject to political negotiations.

Next Steps on a Much Improved Basel III Endgame

ISDA CEO Scott O'Malia published informal comments on the revised US Basel III endgame proposal, noting it represents a major improvement over the 2023 original. The commentary highlights positive changes including removal of the output floor for market risk under FRTB, adjustments to internal models testing, and recognition of cross-product netting in SA-CCR calculations. However, ISDA flags that the SA-CCR methodology remains overly conservative and calibration needs further refinement.

Third Expert Panel Meeting on Corporate Governance Code Revision

Japan's Financial Services Agency announced the third meeting of the Expert Panel on the Revision of the Corporate Governance Code (2025-2026), scheduled for April 3, 2026, from 3:00 pm to 5:30 pm. The meeting will be held at Common Special Conference Room No.1, 13th floor, and streamed live on the FSA Official YouTube Channel. Minutes will be published after the meeting.

Revision of AML/CFT Guidelines for Financial Institutions

The Japan Financial Services Agency revised its Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism along with corresponding FAQs. The revisions aim to strengthen financial institutions' AML/CFT frameworks. Both the updated guidelines and FAQ document were published on March 31, 2026.

Trends in High-Speed Trading Report Update

The Japan Financial Services Agency published an updated version of its 'Trends in High-Speed Trading' report incorporating data as of December 2025. The report tracks registered high-speed trading operators under the Financial Instruments and Exchange Act registration framework that was established by May 2017 amendments and enforced in April 2018.

GLOPAC 28th Training Program for Overseas Banking Regulators

Japan's Financial Services Agency (JFSA) announced the completion of the 28th GLOPAC training program held January 27 to February 5, 2026, hosting 12 officials from overseas banking regulatory authorities. The program, conducted through the Global Financial Partnership Center, trained officials from emerging economies on Japan's approach to banking regulation and supervision.

BaFin Warning Against Investing In Unauthorized Financial Services

BaFin issued a consumer warning against 'Investing In' and its website investing-in.pro for suspected unauthorized financial and securities services in Germany. The unknown operators are suspected of offering financial services without the required BaFin authorization. BaFin reminds consumers that any entity offering financial or securities services in Germany must hold proper authorization.

TC Unterhaltungselektronik AG fined €15,000 for WpHG violation

BaFin imposed a €15,000 fine on TC Unterhaltungselektronik AG for violating § 114 Absatz 1 Satz 2 WpHG. The company failed to publish disclosure about when and where its FY2024 accounting documents were publicly accessible. The company retains the right to appeal the fine.

TC Unterhaltungselektronik fined €15k for WpHG breach

BaFin imposed a €15,000 administrative fine on TC Unterhaltungselektronik AG for breach of section 114(1) sentence 2 of the German Securities Trading Act (WpHG). The company failed to publish an announcement stating the date and website where its 2024 financial year accounting documents were made publicly available. The fine order was issued on 20 March 2026 and may be appealed.

Spectrum Equity Pulse GmbH Unauthorized Financial Services Warning

BaFin issued a consumer warning on March 31, 2026, regarding Spectrum Equity Pulse GmbH operating the website spectrumequitypulse.com without authorization. The entity allegedly provides financial services, securities services, and crypto asset services while falsely claiming BaFin and Deutsche Bundesbank supervision. A presented 'Business License' has been identified as a forgery. BaFin advises consumers to verify authorization status in its company database before engaging with any financial service provider.

RBI Commercial Banks Concentration Risk Management Amendment

The Reserve Bank of India issued amendments to its Commercial Banks Concentration Risk Management Directions, adding definitions for Acquisition Finance, Bridge Finance, Capital Market Intermediaries, Collateral Security, Non-debt Mutual Funds, and Primary Security. The amendments modify board oversight requirements and expand the scope of Capital Market Exposures (CME) to include both direct and indirect fund-based and non-fund based exposures such as investments in equity, preference shares, convertible instruments, mutual fund units, REITs, InvITs, and AIFs.

Commercial Banks Credit Facilities Amendment Directions (Revised)

The Reserve Bank of India issued revised Amendment Directions (RBI/2025-26/254) modifying credit facilities directions for commercial banks. The amendments introduce new definitions including 'Acquisition Finance,' 'Bridge Finance,' 'Capital Market Intermediaries,' 'Cash and cash equivalents,' and 'Eligible Securities,' while modifying the definition of 'Collateral security.' These changes affect how commercial banks structure, classify, and report various credit facilities under the Banking Regulation Act, 1949.

Commercial Bank Financial Statement Disclosure Requirements - Third Amendment

The Reserve Bank of India issued its Third Amendment Directions (RBI/2025-26/257) to the Commercial Banks Financial Statements Presentation and Disclosures Directions, 2025, effective March 30, 2026. The amendment modifies Chapter-III disclosure requirements by deleting sub-paragraph 10(5)(ii) and inserting a new sub-paragraph (iia) establishing detailed disclosure requirements for bank exposures to capital markets, including a standardized table format for reporting such exposures. All commercial banks operating in India are required to comply with these revised disclosure norms.

Capital adequacy norms, commercial banks, 30th Mar

Capital adequacy norms, commercial banks, 30th Mar

Second Amendment Directions for Small Finance Banks - Financial Statement Disclosures

The Reserve Bank of India issued Second Amendment Directions (Revised) dated March 30, 2026, modifying the Small Finance Banks – Financial Statements: Presentation and Disclosures Directions, 2025. The amendments delete sub-paragraph 10(5)(ii) and insert new sub-paragraph (iia) providing a detailed framework for reporting Exposure to Capital Markets, including a specific disclosure table. The changes are consequential to the earlier Credit Facilities Amendment Directions issued the same date.

Small Finance Banks Capital Adequacy Directions Revised

The Reserve Bank of India issued amendment directions (RBI/2025-26/261) revising capital adequacy requirements for small finance banks. The amendment modifies paragraph 74(6) regarding irrevocable payment commitments to clearing corporations, applying a 100% credit conversion factor but requiring capital only on the capital market exposure portion at 125% risk weight. The revised directions take effect upon implementation or July 1, 2026, superseding the February 2026 version.

Small Finance Bank Concentration Risk Management Amendment Directions

RBI issued amendment directions (RBI/2025-26/260) revising Small Finance Bank Concentration Risk Management Directions, 2025. Key changes include adding new definitions for Capital Market Intermediaries, Collateral Security, Non-debt Mutual Funds, and Primary Security; deleting paragraph 3(7); and replacing paragraph 28 with new paragraph 28A that comprehensively defines Capital Market Exposures (CME) to include both direct and indirect exposures across investment and credit categories.

Small Finance Bank Credit Facility Directions Revised

The Reserve Bank of India has issued amendments to the Small Finance Bank Credit Facilities Directions, 2025, introducing new definitions for Capital Market Intermediaries, Eligible Securities, Loan to Value, Margin, and other key terms. The revisions clarify collateral security requirements, expand the list of eligible securities to include REITs, InvITs, and specific mutual fund units, and modify board governance provisions.

Commercial Banks Financial Services Amendment Directions

The Reserve Bank of India issued amendment directions modifying paragraph 18(4) of Chapter-III of the Commercial Banks – Undertaking of Financial Services Directions. The amendments revise provisions on acquisition finance and bridge finance for promoter's stakes in new companies, and update lending terms for individuals against eligible securities. Banks must implement these changes by July 1, 2026 or upon deciding to implement the related Credit Facilities Amendment Directions, whichever is earlier.

Small Finance Banks Credit Facilities Amendment Directions

The Reserve Bank of India issued revised amendment directions modifying the Small Finance Banks – Credit Facilities Directions, 2025. The amendments introduce new definitions for key terms including Capital Market Intermediaries, Eligible Securities, Loan to Value ratios, and Margin requirements. These changes affect how Small Finance Banks extend credit facilities against securities and manage collateral.

Small Finance Banks Capital Adequacy Amendment Directions

The Reserve Bank of India issued revised Second Amendment Directions to the Small Finance Banks Prudential Norms on Capital Adequacy, modifying paragraph 74(6) regarding irrevocable payment commitments issued by banks to clearing corporations on behalf of clients. The amendment clarifies that while such commitments carry a 100% Credit Conversion Factor (CCF) as financial guarantees, capital must only be maintained on the portion reckoned as Capital Market Exposure (CME) with a 125% risk weight. The directions supersede the previous February 13, 2026 amendment.

Small Finance Banks Financial Statement Amendment Capital Market Exposures

The Reserve Bank of India issued amendment directions on March 30, 2026, modifying Small Finance Banks' financial statement disclosure requirements. The amendment deletes sub-paragraph 10(5)(ii) and inserts new sub-paragraph (iia) establishing detailed capital market exposure reporting with a nine-category disclosure table. Small Finance Banks must report current and previous year figures for direct equity investments, advances for capital market purposes, credit facilities to intermediaries, and underwriting commitments.

RBI capital adequacy directions amended for commercial banks

RBI capital adequacy directions amended for commercial banks

Commercial Banks Undertaking Financial Services Amendment Directions 2026

The Reserve Bank of India issued Amendment Directions (Revised) modifying paragraph 18(4) of Chapter-III of the Commercial Banks – Undertaking of Financial Services Directions, 2025. The amendments replace provisions on acquisition finance and bridge finance for promoter's stakes in new companies and lending to individuals against eligible securities. These changes take effect from the date banks implement the related Credit Facilities Amendment Directions or July 1, 2026, whichever is earlier.

Commercial Banks Financial Statement Disclosure Amendments - Capital Markets Exposures

RBI issued Third Amendment Directions (2026) amending Commercial Banks – Financial Statements: Presentation and Disclosures Directions. The amendment deletes sub-paragraph 10(5)(ii) and inserts new sub-paragraph (iia) regarding 'Exposure to Capital Markets' disclosure requirements. Banks must now provide detailed line-item disclosures for capital market exposures including direct equity investments, IPO financing, acquisition finance, and underwriting commitments.

Small Finance Banks Concentration Risk Management Amendment

The RBI issued revised amendment directions to Small Finance Banks regarding Concentration Risk Management. The amendment adds new definitions (Capital Market Intermediaries, Collateral Security, Non-debt Mutual Funds, Primary Security) and introduces paragraph 28A defining Capital Market Exposures (CME) to include both direct and indirect fund-based and non-fund-based exposures through investment and credit channels. Small Finance Banks must update their risk management frameworks to incorporate these revised CME definitions.

Deputy Commissioner and General Counsel Appointment

The Massachusetts Division of Banks announced the appointment of Christine Docherty as Deputy Commissioner and General Counsel, effective March 30, 2026. Ms. Docherty brings over two decades of regulatory experience, most recently serving as Vice President and Deputy General Counsel at the Federal Reserve Bank of Dallas. This is a routine personnel announcement with no regulatory or compliance implications for regulated entities.

Eurosystem Sets Out Comprehensive Strategy for Future of European Payments

The Eurosystem published its comprehensive payments strategy outlining the vision for Europe's payment ecosystem amid technological transformation. The strategy covers wholesale, business-to-business, retail and cross-border payments, and takes into account tokenisation and distributed ledger technology adoption. It establishes four strategic aims: maintaining central bank money's role, enhancing payment autonomy, promoting integrated and competitive payments, and supporting the euro's international role.

Peken Global Limited Fined $500,000 for Operating KuCoin Exchange Without Registration

Peken Global, $500k penalty, KuCoin registration violation

Annual Report 2025 Economic and Monetary Review and Financial Stability Review

Bank Negara Malaysia released its Annual Report 2025, Economic and Monetary Review 2025, and Financial Stability Review for Second Half 2025. Malaysia's economy grew 5.2% in 2025 anchored by resilient domestic demand, with inflation at a five-year low of 1.4%. The reports project Malaysia to grow 4-5% in 2026, with the financial system remaining resilient to support economic expansion amid global uncertainties.

Monthly Monetary and Financial Developments Report

Bank Negara Malaysia published its monthly statistical report on monetary and financial developments for February 2026. The report covers headline inflation at 1.4% (down from 1.6% in January), core inflation at 2% (down from 2.3%), manufacturing production growth of 7.3%, private sector credit growth of 5.6%, banking system liquidity with a 149.4% Liquidity Coverage Ratio, and gross impaired loans at 1.4%.

Evolving Roles of Central Banks in Changing Landscape

Bank Negara Malaysia Governor delivered a keynote address at the Central Banking Meetings in Kuala Lumpur on the evolving roles of central banks amid structural shifts in the global economy. The address emphasized that central banks must transition from merely ensuring stability to actively architecting resilience in the face of geopolitical conflicts, trade fragmentation, digital transformation, and climate pressures. The speech drew on Malaysia's experience through the Asian Financial Crisis and COVID-19 pandemic as examples of institutional resilience building.

Malaysia International Reserves, February 2026, Detailed Breakdown

Malaysia international reserves, February 2026, detailed breakdown

Joint Taskforce on Motor Finance Claims Handling

The FCA, SRA, ICO, and ASA have launched a joint taskforce to tackle poor practice in motor finance claims handling by claims management companies (CMCs) and law firms. The regulators will coordinate enforcement actions against unsolicited marketing, misleading advertising, meritless claims, multiple representation, and unfair exit fees. The taskforce aligns with the FCA's upcoming free motor finance redress scheme.

Shojin crowdfunding platform enters administration

The FCA announced that Shojin Financial Services Limited, a regulated crowdfunding platform, entered administration on 23 March 2026. Joint Administrators Simon Carvill-Biggs and Ian Corfield of FRP Trading Advisory Limited were appointed. The FCA is engaging with the firm and administrators to seek the best outcomes for investors who funded property development loans.

Motor Finance Compensation Scheme for Car Loan Customers

The FCA has confirmed a compensation scheme for motor finance customers who were unfairly treated due to undisclosed commission arrangements between 2007-2024. Approximately 12.1 million car loan agreements are eligible, with estimated total redress of £7.5 billion and an average payout of £830 per agreement. Firms must implement the scheme by June/August 2026 and complete compensation by early 2027.

Motor Finance Redress Scheme Confirmation

The FCA has published PS26-3, confirming a final motor finance redress scheme requiring firms to compensate customers for undisclosed commission on agreements from April 2007 to January 28, 2021. The scheme covers 12.1 million eligible agreements with estimated redress of £7.5 billion and total costs to firms of £9.1 billion. Lenders must complete compensation by August 2026, with most cases resolved by end of 2027.

Updated PIE Auditor Regulations Strengthen Audit Oversight

The FRC published updated Public Interest Entity (PIE) Auditor Registration Regulations for the UK audit market, effective 20 April 2026. The key change requires PAR-registered audit firms to notify the FRC as early as reasonably possible before planned governance or ownership changes, rather than up to 10 working days after completion. The updates also include simplified re-registration, new exemptions, and more flexible submission timescales.

AEP Fund Administrator Appointment and $19M Penalty Distribution

The SEC issued an order appointing Epiq Class Action and Claims Solutions, Inc. as fund administrator for the $19,000,000 Fair Fund created from the civil penalty assessed against American Electric Power Company, Inc. The administrator's bond is set at $19,000,000, and the Office of Financial Management is authorized to pay administrator fees from the Fair Fund. The Fair Fund will be distributed to harmed investors pursuant to Section 308(a) of the Sarbanes-Oxley Act.

Wetalu Trademark - Electronic Payment Processing Services

USPTO received trademark application TM99731334 for "WETALU" under Intent-to-Use provisions on March 29, 2026. The application covers electronic payment processing services including ACH, credit card, debit card, electronic check, and electronic funds transfer processing in International Class 036 (Insurance and Financial Services).

COMMONS trademark application covering banking and financial services

USPTO received trademark application TM99731613 for COMMONS filed March 29, 2026 as an Intent to Use application. The application covers an extensive list of banking and financial services including online banking, investment services, cryptocurrency services, and securities brokerage. This is a routine trademark filing that establishes priority rights for the mark in Class 036 (Insurance and Financial Services).

Tippedoff Trademark Application - Financial Information Services

The USPTO received a trademark application (Serial No. TM99731647) for the word mark TIPPEDOFF, filed under Intent-to-Use basis on March 29, 2026. The application covers financial information and financial analyses services provided via a website, classified under Class 36 (Insurance and Financial). The mark has been published in the USPTO's ChangeBridge feed for Insurance & Finance trademark applications.

Merchant Card Payment Surcharging Reform Conclusions

The Reserve Bank of Australia Payments System Board has published its Conclusions Paper on the Review of Merchant Card Payment Costs and Surcharging, finalizing decisions to remove merchant surcharging on debit, prepaid, and credit cards across eftpos, Mastercard, and Visa networks, lower interchange fee caps, and increase transparency requirements for card networks. Most changes take effect 1 October 2026, with remaining changes effective 1 April 2027.

Dub Advisors Fined $500K for Misleading Social Media Advertising

The Massachusetts Securities Division issued a Consent Order imposing a $500,000 civil monetary penalty on Dub Advisors, LLC for failing to reasonably supervise its agents and investment adviser representatives in ensuring advertising materials contained full and fair disclosures of material information. The violations involved misleading social media advertising for a copy trading platform during the period of December 13, 2024 to March 8, 2025.

Doral Man Guilty of $3.6 Million Auto Lending Fraud

The Florida Office of Financial Regulation announces the conviction of Alejandro Soto on one count of conspiracy to commit wire fraud and three counts of wire fraud. Soto orchestrated an auto loan fraud scheme that defrauded lenders of more than $3.6 million by recruiting straw buyers to purchase vehicles for a car-sharing rental program. The investigation was conducted by the OFR, FBI, and U.S. Attorney's Office for the Southern District of Florida.

KOFR Benchmark Rate Reform Plan

The Financial Services Commission announced it will raise the KOFR-OIS target from 50% to 70% by June 2030, accelerating adoption by 15 percentage points annually instead of the previous 10 percentage points. New KOFR-FRN targets were established at 50% for commercial banks and 65% for policy financial institutions by June 2031. The CD rate will be removed as a critical statutory benchmark rate at the end of 2030.