Week of June 29 - July 5, 2026

🗓️ June 29, 2026

• SEC Obtains Final Judgment against Investment Adviser Charged with Making Misrepresentations in SEC Filing. The U.S. District Court for the District of Colorado entered a final judgment by default against AI Financial Education Foundation Ltd. for making material misrepresentations and unsubstantiated statements in its SEC Form ADV. The SEC’s complaint alleged that AI Financial Education falsely claimed to be an Exempt Reporting Adviser, operated from a Denver office, managed $10 million in U.S. assets, advised a private fund, and had a separate RIA reporting on the fund, none of which were substantiated. The judgment permanently enjoins AI Financial Education from future violations and orders a civil penalty of $1,182,254. 🔗 Read more
• SEC Obtains Final Judgment Against Four Entities and Two Individuals in Alleged Relationship Investment Scam. The U.S. District Court for the Eastern District of New York issued a final judgment by default against four entities and two individuals involved in a relationship investment scam centered around the fake crypto asset trading platform NanoBit. The SEC’s complaint, filed on September 17, 2024, detailed how the defendants deceived investors via social media, falsely claiming affiliations with SEC-registered brokers, and misappropriated over $2 million in funds. The judgment includes financial penalties and disgorgement orders, while the SEC warns investors about potential scams on social media and advises using Investor.gov for background checks. 🔗 Read more
• CFTC Orders Two Foreign Firms to Pay $2.5 Million for Illegal Off-Exchange Transactions with U.S. Customers. Washington - The Commodity Futures Trading Commission announced charges against Netrios LP Ltd. and Red Acre Ltd. for facilitating illegal off-exchange leveraged or margined retail commodity transactions involving U.S. customers who were not eligible contract participants. Netrios must pay a $1.75 million penalty, and Red Acre must pay a $750,000 penalty, with both firms required to cease the unlawful conduct. The Securities and Exchange Commission also filed and settled charges against the firms based on the same conduct, with assistance from the CFTC, the Central Bank of Ireland, the Financial Services Authority of Seychelles, and the Malta Financial Services Authority. 🔗 Read more
• The EBA publishes its 2025 Report on supervisory convergence, supporting a simpler and more efficient EU prudential framework. The European Banking Authority (EBA) published its 2025 Report on supervisory convergence, highlighting progress in aligning supervisory practices across the EU and identifying areas needing further convergence. The Report details the EBA’s work in prudential supervision, resolution, consumer protection, digital finance, and AML/CFT, showcasing advancements such as the 2025 European Supervisory Examination Programme, the rollout of MiCA and DORA, and the development of a new EU-wide payment fraud database. Additionally, the EBA supported supervisory convergence through peer reviews, training programs, and breach of Union law investigations, delivering 25 courses to over 2,900 participants. 🔗 Read more
• The EBA publishes a roadmap on the delivery of its mandates under the revised Deposit Guarantee Schemes Directive. The European Banking Authority (EBA) has published a roadmap detailing its role in implementing the revised Deposit Guarantee Schemes Directive (DGSD3) to enhance depositor protection across the EU. The roadmap outlines the development of 12 regulatory products over three years, aiming to improve depositor information, ensure faster repayment in bank failures, and strengthen cooperation between national schemes. These efforts are part of a broader strategy to bolster the EU bank crisis management framework and harmonize protection standards ahead of the Directive’s application in May 2028. 🔗 Read more
• Two admit General Election betting offences. Craig Williams and Amy Hind have pleaded guilty to cheating by using confidential information about the 2024 General Election date to place bets and profit. Williams, who was in a privileged position as Parliamentary Private Secretary to the Prime Minister and a member of the King’s Privy Council, attended meetings where the election date was discussed. Hind, a former Conservative Party employee, also placed bets using sensitive information. Amy Hind is due to be sentenced on 23 October, while Craig Williams’ sentencing is scheduled for a later date. 🔗 Read more
  

🗓️ June 30, 2026

• Agencies release list of distressed or underserved nonmetropolitan middle-income geographies. Federal bank regulatory agencies released the 2026 list of geographies eligible for Community Reinvestment Act (CRA) credit, focusing on distressed or underserved nonmetropolitan middle-income areas. These designations are based on local economic conditions such as unemployment and poverty, and eligible activities can receive CRA consideration for 12 months after publication. A one-year lag period applies to areas previously designated in 2025 but no longer considered distressed or underserved. 🔗 Read more
• SEC Seeks Public Comment on Novel Exchange-Traded Funds. Washington D.C. - The Securities and Exchange Commission has issued a request for public comment on exchange-traded funds (ETFs) that invest in innovative asset classes or use novel strategies. The focus is on facilitating innovation while protecting investors and maintaining efficient markets. The SEC seeks input on the status, regulation, and registration process of these novel ETFs to support the market’s growth and innovation. 🔗 Read more
• Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies. Washington - Federal bank regulatory agencies released the 2026 list of geographies eligible for Community Reinvestment Act (CRA) credit, focusing on distressed or underserved nonmetropolitan middle-income areas. These designations are based on local economic conditions like unemployment and poverty, and eligible activities can receive CRA consideration for 12 months after publication. A one-year lag period applies to areas previously designated in 2025 but no longer considered distressed or underserved. 🔗 Read more
• The EBA clarifies its Product Oversight and Governance Guidelines which address greenwashing risks in ESG products. The European Banking Authority (EBA) has published revised Guidelines on product oversight and governance for retail banking products, focusing on ESG features and addressing greenwashing risks. These Guidelines ensure robust standards in designing and distributing ESG-related products to prevent consumer misinformation and ensure products meet consumer needs. The Guidelines, which include updates to align with the 2020 EBA Founding Regulation and other directives, will be available in all 24 languages by 2026 and will apply from 11 January 2027. 🔗 Read more
• EU deposit guarantee scheme funds to protect depositors against bank failures continue to grow and have reached a volume of €85bn, the EBA observes. All national deposit guarantee schemes (DGSs) in the European Union reached the minimum target level of 0.8% of covered deposits by the end of 2024, with available funds reaching €85bn by the end of 2025. Covered deposits increased by 2.9% to €9.1tn between 2024 and 2025, while DGS funds grew faster at 4.9%, as some schemes built buffers above the minimum. The European Banking Authority published end-2025 data on DGSs, enhancing transparency and accountability across the EU, with 32 of 33 EU DGSs meeting or exceeding the target threshold. 🔗 Read more
• EIOPA peer review follow-up shows progress in product oversight and governance supervision. The European Insurance and Occupational Pensions Authority (EIOPA) published a follow-up report assessing the progress of National Competent Authorities (NCAs) in implementing Peer Review on Product Oversight and Governance (POG) recommendations. The report highlights overall progress in POG supervision, with NCAs strengthening their frameworks and moving towards more operational, risk-based, and product-focused approaches, although progress remains uneven across Member States. Many NCAs have developed conduct risk assessment frameworks and implemented systematic supervisory work, leading to remedial actions such as product changes and withdrawals. 🔗 Read more
• ESMA consults on simplifying EU Taxonomy disclosure framework. The European Securities and Markets Authority (ESMA) has initiated a consultation to provide technical advice to the European Commission on selected KPIs under the Taxonomy Disclosures Delegated Act, aiming to simplify and reduce reporting burdens for market participants. This effort is part of the Commission’s Omnibus package and focuses on simplifying the reporting framework while maintaining its relevance for investors, with proposals including simplifications for non-financial undertakings and asset managers, and feedback sought on group-level reporting solutions. The European Commission has asked each European Supervisory Authority to provide advice on specific aspects of the Taxonomy disclosure framework review. 🔗 Read more
• Petfre (Gibraltar) Limited to pay £900,000 for regulatory failures. An online gambling business, Petfre (Gibraltar) Limited, will pay £900,000 after a Commission investigation revealed social responsibility failures, including inadequate processes to identify and address gambling harm. The Commission found that the company’s procedures delayed interactions with customers showing signs of harm, resulting in significant financial losses for some. Despite these issues, Petfre has since implemented interim controls and an action plan to meet regulatory requirements, and the Commission expects other operators to learn from this case.  🔗 Read more
  

🗓️ July 1, 2026

• Federal Reserve issues initial findings from its 2025 triennial payments study. The Federal Reserve’s 2025 triennial payments study revealed that noncash payments by consumers and businesses reached 236.6 billion in 2024, more than tripling since 2000. Cards were the most frequently used method, with debit cards leading in number but credit cards growing faster for the first time in nearly a decade. ACH payments dominated by value, reaching almost three-quarters, while check payments and ATM withdrawals declined. 🔗 Read more
• SEC Publishes Updated Market Statistics, Highlighting Increase in IPOs and Proceeds Raised. Washington D.C. - The Securities and Exchange Commission’s Division of Economic and Risk Analysis (DERA) has published updated statistics and data visualizations for key segments of the U.S. capital markets, including new asset-backed securities and municipal advisor data visualizations. In the first quarter of 2026, IPO and follow-on offering activity showed significant growth, with 99 IPOs raising over $22 billion and 264 follow-on registered offerings raising over $44.2 billion, marking an approximately 86% increase in proceeds raised compared to the previous year. These statistics and visuals are available on the SEC’s public webpage, providing interactive and downloadable resources for the investing public. 🔗 Read more
• SEC Files Proposed Partial Judgments in Connection with Fraud Charges Against Advisory Firm and its Owner. Washington D.C. - The U.S. Securities and Exchange Commission filed proposed partial judgments against David Kushner and his company, La Mancha Funding Corp., for allegedly defrauding nearly two dozen investors out of approximately $2.1 million through private securities offerings. The SEC’s complaint, filed on November 21, 2024, accuses Kushner and La Mancha of making material misrepresentations about fund usage and misappropriating funds for personal expenses. Kushner and La Mancha consented to judgments that would enjoin them from future violations, with monetary relief to be determined later, while Kushner has also pled guilty to related criminal charges. 🔗 Read more
• The EBA launches consultation on key performance indicators of Taxonomy disclosures. The European Banking Authority (EBA) has published a Discussion Paper on key performance indicators (KPIs) and aspects of the Disclosures Delegated Act under the Taxonomy Regulation to consult the public on simplifying and enhancing information disclosure by credit institutions and investment firms. The consultation is open until 12 August 2026, and the EBA’s response includes proposals for simplifying various KPIs and aligning provisions with the EU Green Bond Regulation, while coordinating with EIOPA and ESMA on cross-cutting issues. The European Supervisory Authorities (ESAs) will submit their responses to the European Commission in October 2026. 🔗 Read more
• EIOPA consults on enhancements to insurance corporate disclosures under EU Taxonomy for environmentally sustainable activities. The European Insurance and Occupational Pensions Authority (EIOPA) has initiated a consultation on proposed changes to insurance corporate disclosures under the EU Taxonomy framework to enhance transparency and simplify reporting. Key amendments include revising the ‘underwriting KPI’ to focus on Taxonomy-eligible lines of business, introducing a ‘Green Insured Activities KPI’ for measuring Taxonomy-aligned insured activities, and standardizing the calculation of eligible activities in the Eligibility ratio. Additionally, EIOPA suggests simplifying reporting templates and streamlining group reporting to emphasize the parent company’s main business. 🔗 Read more
• ESMA recognises the Clearing Corporation of India Limited as a Tier 1 third-country CCP. The European Securities and Markets Authority (ESMA) has recognised The Clearing Corporation of India Limited (CCIL) as a Tier 1 third-country central counterparty (CCP) under the European Market Infrastructure Regulation (EMIR). This recognition, effective from 30 June 2026, allows CCIL to provide clearing services to EU clearing members and trading venues, based on its compliance with EMIR conditions, including regulatory equivalence, effective supervision by the Reserve Bank of India (RBI), and cooperation arrangements between ESMA and RBI. 🔗 Read more
• Anti-money laundering and counter terrorism laws cover thousands more businesses. Criminals are exploiting Australia’s real estate market and complex company structures to hide and move illicit money, prompting a major expansion of the country’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. From today, tens of thousands more businesses, including real estate agents, lawyers, and accountants, are covered by these laws, which aim to close gaps and increase scrutiny on high-risk transactions. The reforms, effective from 1 July, require businesses to have AML/CTF programs and compliance officers in place, with registration mandatory for certain higher-risk services, and AUSTRAC is providing extensive support to help businesses comply. 🔗 Read more
  

🗓️ July 2, 2026

• Federal Reserve Board issues enforcement action with Small Business Bank and announces termination enforcement actions with BNP Paribas S.A., BNP Paribas USA, Inc., BNP Paribas Securities Corp., and Community Bankshares, Inc. The Federal Reserve Board announced the execution of a PCA Directive for Small Business Bank in Lenexa, Kansas, dated June 29, 2026. Additionally, it terminated enforcement actions against BNP Paribas S.A., BNP Paribas USA, Inc., and BNP Paribas Securities Corp., with the Cease and Desist Order dated July 17, 2017, terminated on June 25, 2026, and against Community Bankshares, Inc., with the Cease and Desist Order dated April 14, 2026, also terminated on June 25, 2026. 🔗 Read more
• FDIC Issues List of Banks Examined for CRA Compliance. Washington - The Federal Deposit Insurance Corporation (FDIC) has released a list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA) in April 2026. The CRA, a 1977 law, mandates the FDIC to assess a bank’s efforts in meeting the credit needs of its community, including low- and moderate-income areas, while ensuring safe operations. Public disclosure of these evaluations has been required since July 1, 1990, and can be accessed through the FDIC’s Public Information Center or directly from the banks. 🔗 Read more
• Targeted EBA peer review finds high compliance on Pillar 3 disclosures but calls for greater consistency. The European Banking Authority (EBA) published the results of its targeted Peer Review on the supervision of compliance with the Capital Requirements Regulation (CRR) and the Bank Recovery and Resolution Directive (BRRD) provisions related to market discipline through bank disclosure (“Pillar 3”). The Review found that most competent authorities have fully or largely embedded Pillar 3 requirements into their supervisory frameworks, with four authorities achieving a very high standard, though some differences in implementation remain, such as one authority being rated “partially applied” and another mostly “not applied” due to differing views on the financial stability risks of non-compliance. 🔗 Read more
• ESMA identifies up to €1 billion in potential annual savings from simplifying EU transaction reporting. The European Securities and Markets Authority (ESMA) has published its final report on simplifying transaction reporting, advocating for a ‘Report Once’ approach to enhance market transparency and reduce costs. The report highlights that frequent regulatory changes and duplication have increased complexity and costs, and proposes a staged approach with a single integrated framework across MiFIR, EMIR, and SFTR. This model is expected to yield annual net savings of €250 million to €1.0 billion and a 10-year cumulative net benefit of €1.2 billion to €4.9 billion, with implementation costs recovered in three to four years. 🔗 Read more
• Moody’s Germany fined EUR 2,145,000 for misreporting to ESMA. The European Securities and Markets Authority (ESMA) fined Moody’s Deutschland GmbH EUR 2,145,000 for four breaches of the Credit Rating Agencies Regulation, which involved failing to provide complete, accurate, and up-to-date data to ESMA. The errors, which did not affect Moody’s Germany’s website, were due to negligence and highlighted deficiencies in its regulatory reporting framework. ESMA emphasized the importance of high-quality reporting for detecting risks and maintaining transparency in EU financial markets. 🔗 Read more
  

🗓️ July 3, 2026

• ESMA reminds firms of existing rules and obligations under binary option measures amid growing popularity of prediction markets globally. The European Securities and Markets Authority (ESMA) has issued a statement reminding firms to assess if newly offered products, such as prediction markets or event contracts, fall under existing product intervention measures on binary options. These event contracts, which have a binary financial outcome based on a yes-or-no question about a future event, may qualify as financial instruments and are subject to national prohibitions on marketing to retail clients. Additionally, distributing such event contracts as financial instruments in the EU requires authorization as an investment firm, even for non-retail clients. 🔗 Read more
• AUSTRAC finalises enforceable undertaking with Sportsbet. AUSTRAC has finalized an enforceable undertaking with Sportsbet Pty Ltd after the company addressed serious deficiencies in its anti-money laundering and counter-terrorism financing controls. The undertaking, accepted in May 2024, required Sportsbet to improve five key areas of its AML/CTF policies and processes, with independent assurance confirming the completion of all necessary remediation. AUSTRAC CEO Brendan Thomas emphasized the importance of robust systems in higher-risk sectors and the need for continued vigilance against money laundering risks, particularly in the online gambling sector. 🔗 Read more
• ESMA launches Common Supervisory Action with NCAs on the risk management function. The European Securities and Markets Authority (ESMA) is initiating a Common Supervisory Action (CSA) on the risk management function of UCITS management companies and Alternative Investment Fund Managers (AIFMs) across the EU, to be conducted in 2026 and 2027 with National Competent Authorities (NCAs). The CSA aims to evaluate compliance with key risk-related provisions under the UCITS and AIFMD frameworks, focusing on the effectiveness, independence, and expertise of the risk management function. NCAs will assess governance, risk identification and monitoring, and reporting, using a common framework developed by ESMA to ensure a comprehensive and convergent approach. 🔗 Read more