Insurance and pension sector firms must obtain prior authorization from the Gaming Supervision Institute for promotional raffles, contests and other random prize mechanisms. The requirement covers insurers, reinsurers, pension fund managers, insurance intermediaries and brokers.

Hong Kong Securities and Futures Commission Chairman Dr Kelvin Wong outlined a capital markets plan focused on renminbi and fixed income markets, Mainland connectivity, and market efficiency and infrastructure. The SFC will support more renminbi products and risk management tools, enhance Connect schemes and prepare for REIT Connect. Reforms will seek to reduce unnecessary barriers while maintaining investor protection, disclosure quality and market resilience.

Hong Kong Securities and Futures Commission Chief Executive Officer Julia Leung detailed plans to expand renminbi markets, Connect schemes and market efficiency under the regulator’s Strategic Action Plan. Targets include renminbi counter trading in southbound Stock Connect by July 1, 2027, REIT Connect in the first half of 2027 and a consultation on streamlined prospectus disclosures. The SFC is also studying T+1 settlement and collateral reforms while maintaining scrutiny of IPO quality and market misconduct.

The National Bank of the Kyrgyz Republic participated in the first meeting of an interagency commission on information security and cybersecurity. The initiative covers threat assessment, rapid information sharing and stronger coordination to protect financial infrastructure and information systems.

The National Bank of Moldova found adequate financial resilience and no excessive systemic risk at the end of the second quarter of 2026. Financial stress and banking vulnerability measures remained below their thresholds, while direct contagion risk was low. Credit risk remained the main banking exposure, but prudent household lending metrics and strong liquid asset buffers supported banks’ shock absorption capacity.

The European Securities and Markets Authority will begin a digital innovation supervisory priority in 2027, initially focusing on supervised entities’ use of AI and tokenisation. Authorities will map client facing uses, build common supervisory approaches and conduct initial checks on selected firms. The initiative will operate alongside the continuing cyber and operational resilience priority as the ESG disclosures priority closes.

Bank of Spain Deputy Governor Soledad Núñez called on banks to integrate geopolitical risk into strategy, stress testing and risk appetite frameworks, despite strong profitability, capital and liquidity. She highlighted rising housing risks, the need for greater transparency in private credit and the importance of financing energy and technological investment without relaxing credit standards.

The Bank of Italy has published a study finding that cross-border financial architecture is shifting from an integrated, Western-centric network toward a more fragmented and multipolar structure. Tighter regulation, declining correspondent banking and geopolitical tensions are driving alternative payment, messaging and regional infrastructure networks. Technology may improve integration, but political alignment is likely to determine how these networks connect.

The Dutch Authority for the Financial Markets found that many consumers have limited knowledge of their pensions and insurance and rarely revisit financial choices. One in seven used AI for financial matters in the past year, while embedded insurance and low reporting of suspected investment fraud highlight emerging consumer protection risks.

The Austrian Financial Market Authority reported that pension fund assets rose 5.9% to EUR 31.9 billion and employee provision fund assets increased 5.7% to EUR 25.2 billion in the second quarter. A proposal before the National Council would expand pension fund access from 2028 and create a more dynamic investment option without the existing capital guarantee or early termination payouts.