May 2026 brings a significant cluster of regulatory milestones for payments and financial services professionals. Drawing on data from the Horizon Scanning Regulatory Deadlines Calendar, this month features 59 regulatory deadlines in total — 33 consultation periods closing and requiring formal responses, alongside 20 actionable deadlines coming into force. According to Vixio, here is what compliance teams need to have on their radar.
This recent review was part of a recent post by Vixio detailing payments regulatory deadlines to watch in May 2026.
Belarus tightens payments rules to tackle drug trafficking
A decree issued by the President of the Republic of Belarus on 13 November 2025 came partially into force on 14 May 2026, expanding the country’s existing framework for combating unauthorised payment transactions. Decree No. 394 amends Decree No. 269 (August 2023) to incorporate transactions linked to the illegal trafficking of narcotic drugs, psychotropic substances, and related analogues.
Under the new rules, the National Bank of the Republic of Belarus must organise information-sharing between law enforcement agencies and payment service providers (PSPs), define which payment services are subject to reporting obligations, and establish procedures for distributing incident data through the ASOI system to relevant authorities including the Investigative Committee and Ministry of Internal Affairs.
Crucially, information shared through this system will not constitute a breach of banking secrecy, and personal data may be processed without customer consent in relevant cases. The National Bank and Council of Ministers have six months from publication to align legislation and implement the changes.
Tanzania launches electronic matching system for interbank FX
On 28 April 2026, the Bank of Tanzania designated eight financial institutions as Market Makers under its newly established Electronic Matching System (EMS) for the Interbank Foreign Exchange Market.
The EMS, which became officially effective on 18 May 2026, is designed to support liquidity, orderly market conduct, and efficient price discovery. Designated Market Makers are required to continuously post two-way quotes and associated volumes throughout trading hours. All EMS participants — including commercial banks and non-bank institutions — have been informed of the appointments and are expected to factor them into their market operations.
Vietnam raises the bar on competition enforcement penalties
A government decree issued on 2 April 2026, taking effect on 20 May 2026, introduces meaningful changes to how Vietnam enforces competition rules. The reforms increase monetary fines for administrative violations, particularly in situations where an enterprise recorded zero revenue on the relevant market during the preceding financial year.
The scope of economic concentration enforcement has also been widened to cover enterprises operating across different markets or at varying stages of production, distribution, or supply chains. For failure to notify an economic concentration, fines now range from 500m Vietnamese dong to 2bn Vietnamese dong, calibrated according to enterprise size and market turnover.
Ukraine sets deadline for payment institutions to overhaul governance
Ukraine’s National Bank adopted amendments in December 2025 to its regulation on management system requirements for payment institutions (PIs) and electronic money institutions (EMIs), with a compliance deadline of 31 May 2026. The changes introduce tighter controls around senior risk and compliance functions: internal auditors, chief risk managers, and chief compliance managers will no longer be permitted to hold additional roles at a PI, EMI, or any affiliated legal entity.
Institutions must also ensure continuous professional development for internal audit staff and maintain formal internal documents setting out audit strategy, procedures, and methodology. Firms are required to develop or update their internal policies on internal audits and bring all activities into line by the end of the month.
EU publishes landmark anti-corruption directive
On 11 May 2026, the European Union published Directive (EU) 2026/1021 in the Official Journal of the European Union, with the legislation entering into force on 31 May 2026. The directive establishes minimum standards across EU member states for defining criminal offences and imposing both criminal and non-criminal penalties in the area of corruption. It replaces the earlier Council Framework Decision 2003/568/JHA and the associated convention on corruption involving EU officials. Key areas covered include bribery in both the public and private sectors, trading in influence, enrichment from corruption offences, and provisions on prevention, reporting, and investigation. The directive applies to all EU institutions and is intended to create a more consistent and robust anti-corruption framework across the bloc.
With nearly 60 deadlines falling in May alone, financial institutions and FinTech firms operating across multiple jurisdictions face a demanding compliance calendar. Staying ahead of these developments — particularly where legislation is entering into force rather than simply opening for consultation — will be critical for those looking to avoid regulatory exposure.
Read the full Vixio post here.
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