Financial Conduct Authority Chief Executive Nikhil Rathi called for wholesale tokenisation to move from pilots to adoption at scale. An upcoming joint roadmap with the Bank of England will set out the transition to established market infrastructure, while the FCA intends to consult on safeguards for relevant tokenised investment assets. Industry feedback highlighted opportunities in post-trade processes and obstacles involving settlement, interoperability and regulatory accountability.

The Danish Financial Supervisory Authority found that insurers and pension companies are advancing their DORA implementation but still have weaknesses in governance, risk management documentation, skills, operational testing and incident learning. Companies with deficiencies must submit remediation plans, while targeted inspections and inadequate progress may result in supervisory action.

The OECD has issued nonbinding guidance calling for consistent transparency standards across retail cross-border payment and remittance providers, instruments and channels. Providers should disclose total costs, foreign exchange charges, delivery times, tracking information and service terms before execution. A review of 41 jurisdictions found widespread cost disclosure rules but substantial gaps in payment tracking and consistent market coverage.

The Basel Committee on Banking Supervision found that capital and leverage ratios for large internationally active banks remained broadly stable at the end of 2025. Full implementation of final Basel III would raise their Tier 1 minimum required capital by an average of 2.2%, with an aggregate capital shortfall of EUR 1.4 billion. All sampled banks exceeded the 100% Liquidity Coverage Ratio and Net Stable Funding Ratio minimums.

The Financial Action Task Force found that Türkiye has strengthened financial intelligence and international cooperation but still has material effectiveness gaps in supervision, beneficial ownership, complex money laundering cases and asset recovery. Türkiye is compliant or largely compliant with 38 of 40 FATF Recommendations, yet eight of 11 effectiveness outcomes are rated moderate. It has entered enhanced follow-up with a three-year improvement roadmap.

The European Supervisory Authorities identified non-EU dependencies, cyber and emerging technology threats, and private credit as key vulnerabilities, while assessing the EU financial system as resilient overall. They called for stronger crisis preparedness, monitoring and stress testing of external and private credit exposures, and early action on risks from artificial intelligence and quantum computing.

The Luxembourg Insurance Commission has published the country’s first assessment of targeted financial sanctions risks related to proliferation and terrorist financing. Luxembourg’s cross-border financial activity creates indirect exposure despite limited direct links to sanctioned countries and actors. Foreign trusts, domestic fiduciary arrangements and certain nonprofit organisations retain very high residual risk, while most regulated financial sectors are rated low after mitigation.

The South Korea Financial Services Commission revoked Shilla Asset Management’s collective investment authorizations and Zenith Investment Advisory’s advisory and discretionary management registrations after inspections found capital, accounting and disclosure violations. The firms received combined fines and penalties of KRW 2.794 billion, alongside dismissal related sanctions concerning current or former executives.

The Rwanda Capital Markets Authority has proposed a one-year pilot framework for designated market makers in government securities, initially covering three-year, 10-year and 15-year on-the-run Treasury bonds. Eligible firms would provide continuous firm two-way quotes, participate in primary auctions and meet capital, reporting, governance and conduct requirements. The National Bank of Rwanda would designate and evaluate market makers, with the Capital Markets Authority and Rwanda Stock Exchange responsible for regulatory and trading oversight.

South Korea's Financial Services Commission has finalized a K-IFRS amendment requiring companies to disclose officially assessed values for land accounted for under the cost model. The requirement applies from annual financial statements ending Dec. 31, 2026, with retrospective comparative information. Officially assessed values are not fair values and may differ from them.

South Korea's Financial Services Commission filed a criminal complaint in one suspected virtual asset manipulation case and referred three others to investigators. The cases involve automated API trading used to create artificial activity and raise prices, as well as wash trades that accounted for more than 90% of one asset’s volume. The commission warned investors to scrutinize unexplained price and volume surges and verify information in white papers and disclosures.

The National Bank of Georgia presented its payments modernization agenda at Global Fintech Fest 2026, emphasizing ISO 20022, instant payments and future international interoperability. Meetings with Indian payments authorities and firms explored cooperation on instant and cross-border payments, infrastructure and innovative services.