Korea Replaces Its Merger Formula With Board Judgment. Investors Get Disclosure, Not a Price Rule.
A law taking effect on December 9 removes fixed pricing rules, while proposed implementing rules demand more explanation but set no valuation weights.
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Finance · Regulation
Markets, banking, fintech regulation, capital allocation and the financial impact of technology.
Brazil Opens Climate-Risk Data, but Smaller Institutions Remain Harder to Compare
Open files do not create a level comparison when S3 institutions can delay nine expanded tables and S4 institutions remain on a narrower disclosure set.
China Sets an 18-Month Exit Clock for Subsidiary Derivatives Desks
Futures parents can apply to absorb the businesses, but the rule does not show that group-level risk will fall.
Korea Would Standardize Insurers' Assumption Ledgers Before Setting the Capital Adjustment
Korea's proposal would give supervisors a consistent annual assumption trail and boards notice of material midyear changes, while leaving the outsourced-sales capital formula for later.
China Standardized the Data-Asset Ledger. Valuation Still Has No Common Unit.
Two national standards make data-asset records more consistent, but neither supplies ownership title, a valuation method or automatic balance-sheet recognition.
SEBI Proposes Market-Level Cyber Rules for Exchange Technology Subsidiaries
Two linked consultations would extend exchange-grade cyber controls to subsidiaries and formalise who can run critical control functions, while leaving SEBI to judge whether a shared-infrastructure entity deserves lighter treatment.
Argentina Reclassifies Banks Without Waiting for Confirmation
The BCRA collapsed three bank groups into two, widened the measurement window and removed the confirmation period. A classification label now moves capital and reserve obligations faster.
The UAE Deadline That Actually Binds This Week Is the SME Rulebook, Not the Central Bank Law
Article 184's reconciliation period can be extended by the central bank's board. Circular 2/2026, in force on 13 September, has no such release valve.
Japan Put Bitcoin Under Insider-Trading Law. Everyone Read the Tax Cut Instead.
The July 15 amendment reclassifies crypto as a financial instrument under the same statute as stocks, and the flat 20% tax that led the coverage does not arrive until 2028, a year after the disclosure and market-conduct rules that actually change how the market runs.
Colombia Forced Its Banks Into Open Finance. Mexico Left the Same Law Idle for Eight Years.
Same policy label, opposite outcomes: across Latin America the dividing line is whether the regulator compelled incumbents to open, or merely invited them.
The UK Forced Banks to Refund Scam Victims. A Year On, the Deterrence Question Is Still Open.
The PSR's first-year evaluation shows mandatory reimbursement cut Faster Payments fraud by roughly £73m a year, but the numbers cannot yet separate genuine deterrence from cost shifted onto payment firms and scams pushed to rails the scheme does not touch.
Nigeria's Central Bank Opens Its Sandbox to Crypto. The Real Test Is the Split With the SEC.
Cohort 2's virtual-asset track is the first live stress test of a CBN/SEC division that a July executive order wrote into law but has not yet proven under operational pressure.
APRA Moved From AI Guidance to Enforceable Expectations. It Never Has to Explain the Model.
Australia's prudential regulator turned AI risk from advice into a baseline it intends to test, and its sharpest move is refusing to police the model at all.
The Philippines Reopened Online Lending. Its Regulator Wants Out of the Business Entirely.
On 1 August the SEC ended a nearly five-year freeze on new online lending platforms. Weeks earlier it asked Congress to hand the whole sector to the central bank, which has already named predatory lending as its first target.
South Korea Just Made the Crypto-Exchange License a Prudential Test. The Gate Is a Balance Sheet.
From 20 August, Seoul screens who owns an exchange and caps operator leverage at a 200% debt ratio, months before it writes stablecoin law.
China Wrote One Disclosure Rulebook for Bank, Insurance and Trust Products. Look-Through Is What Makes It Bite.
A single framework taking effect on 1 September pulls bank wealth management, insurance asset management and trust products under one disclosure standard, and requires issuers to look through to the assets underneath.
RBI is trading the bank-board checklist for principles. The direction of travel is the story.
The Reserve Bank of India's Governance Amendment Directions 2026 scrap the "seven broad themes" for principle-based board oversight from 1 October, a bet against prescription that runs counter to the global regulatory mood.
Indonesia Puts Finfluencers Inside a Licensing Perimeter, and Keeps the Power to Block Them
OJK POJK 6 of 2026 wraps a licensing perimeter around financial-sector content, pushes liability up to the banks, and keeps the power to have violating accounts taken offline.
China Made Lenders Print the True Price of a Loan. The Fee Stack Lost Its Cover.
A single all-in cost disclosure form took effect on 1 August, and the ceilings lenders rushed to publish in response map exactly where the guarantee-fee stack was hiding.
Europe Wants a Single Supervisor for Crypto. The Fight Is Over Which Firms Count.
MiCA gave crypto firms one licence to trade across the EU, policed by whichever national regulator they chose to sit under. The Commission and the ECB now want to hand the biggest of them to ESMA in Paris. Member states want to keep the smaller ones at home. Where that line falls decides whether the passport's race to the bottom actually closes.
Japan Rebuilt Its Crypto Travel Rule Around Equivalence
From 3 August, licensed exchanges must collect full sender and receiver data for transfers to 63 approved jurisdictions and go blind to everyone else. The FSA calls it anti-money-laundering housekeeping. The list it drew works as an alignment map.
Saudi Arabia Just Opened Listed Private Credit to Retail. The Guardrails Are the Argument.
New CMA rules let non-bank lending funds list on the Saudi Exchange and reach ordinary investors for the first time. Whether that brings discipline to private credit or private-credit risk to retail comes down to a handful of caps.
Brazil Draws the Line the G20 Won't: Stablecoins Can Be Held, Not Used as FX Plumbing
Resolution 561 bars regulated foreign-exchange providers from settling the offshore leg of cross-border payments in crypto, routing Brazil's 6-to-8-billion-dollar-a-month flow back through a banking system the central bank can see, supervise, and tax.
Britain Just Put the Four Companies That Run Its Banks Under Direct Financial Supervision
HM Treasury designated AWS, Google Cloud, Microsoft Azure and Oracle as Critical Third Parties on July 13, the first use of FSMA 2023's CTP powers. Regulators spent a decade writing resilience rules for banks. They never wrote any for the servers every bank runs on. This is the structural fix.