Oversight

Canada will launch a new federal financial-crimes agency and change banking laws to clamp down on online fraud and other scams, the country’s Department of Finance announced on Monday. 

The Financial Conduct Authority (FCA) will serve as the sole anti-money laundering (AML) and counterterrorist-financing (CTF) supervisor for the UK’s legal, accountancy and trust and company service provider sectors under a plan announced on Tuesday. 

France’s banking supervisor is intensifying on-site anti–money laundering (AML) checks at cryptocurrency firms as it decides which of the country’s more than 100 registered platforms will qualify for EU–wide authorization in the coming months, Bloomberg reported.

UK regulators are holding up Revolut’s full banking license amid concerns that the fintech firm’s risk controls are not scaling fast enough with its rapid overseas growth, the Financial Times reported. 

European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported. 

The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.

U.S. Treasury Secretary Scott Bessent said new federal guidance on Suspicious Activity Reports (SARs) is intended to ease banks’ “pain points” and shift U.S. anti-money laundering oversight toward measurable effectiveness.

Pope Leo XIV has approved new rules that redistribute control over the Holy See’s financial investments, diluting the exclusive authority the Vatican Bank has held since 2022 and formalizing a shared model of oversight across church institutions.

The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.

UK digital bank Monzo is weighing a fresh attempt to secure a US banking license, four years after abandoning its previous bid when talks with regulators stalled, according to the Financial Times.