In this latest issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance, asking six key questions in the following jurisdictions: United Kingdom, United States, Canada, EU, Luxembourg, France, Italy, Poland, Hong Kong, China, UAE, Australia and South Africa.
Read the issue here.
On 26 June 2025, the Financial Action Task Force (FATF) published its sixth report on the global implementation of the FATF Standards for virtual assets (VAs) and virtual asset service providers (VASPs). It provides an overview of the global implementation of FATF Recommendation 15, including the Travel Rule.
FATF
On 22 June 2025, the Financial Action Task Force (FATF) updated its non-binding Guidance Paper “Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion”.
Background
The Guidance Paper does not provide a single model for promoting financial inclusion in the anti-money laundering / countering the financing of terrorism (AML/CFT) context.
On 19 June 2025, the Financial Stability Board issued a report on vulnerabilities in non-bank commercial real estate investors. The report assesses vulnerabilities in the non-bank investors that intermediate commercial real estate assets in the form of debt and equity, hold them on balance sheet, or provide financing to those that do (i.e. property owners
AIFMD 2: Quick guide to Member State activity
On 26 March 2024, the final legislative text of the Alternative Investment Fund Managers Directive 2 (AIFMD 2) was published in the Official Journal of the EU. The publication marked the conclusion of the AIFMD Review process that formally began in 2020. AIFMD 2 amends
CRD VI: Quick guide to Member State activity
On 27 October 2021, the European Commission adopted a Banking Package which set out proposed amendments to EU banking rules contained in the Capital Requirements Regulation and the Capital Requirements Directive IV. The main purpose of the amendments was to implement the outstanding elements of the Basel
On 18 June 2025, the Financial Action Task Force (FATF) announced that changes to Recommendation 16 of the FATF standard, also referred to as the ‘Travel Rule’ in the context of virtual assets, were agreed by members at the FATF’s June 2025 Plenary meeting. The changes will come into effect by the end
On 10 June 2025, the Basel Committee on Banking Supervision issued proposals for a technical amendment to the Basel Framework concerning the standardised approach for operational risk.
The Basel Committee has also finalised a set of frequently asked questions regarding the standardised approach for credit risk. The deadline for comments on the proposed amendments is
On 7 June 2025, the chair of the Financial Stability Board (FSB), Klass Knot, addressed the 93rd Group of Thirty (G30) Plenary and shared his thoughts regarding financial innovation and stability. He underscored the imperative for regulators to maintain vigilance and adaptability in the face of rapid financial innovation.
Key highlights from