The Saudi Arabia Insurance Authority has barred United Cooperative Insurance Company from issuing or renewing policies across all insurance products, expanding earlier restrictions on compulsory and motor coverage. The company remains responsible for existing policies and related claims and must protect policyholders and beneficiaries.

The Argentina Securities Commission has finalized new rules for primary securities placements, strengthening transparency, conflict controls, investor identification and standardized reporting. The regime covers domestic placements and local tranches of international offerings, while excluding international placing agents that do not operate in Argentina.

The Financial Industry Regulatory Authority ordered American Portfolios to pay USD 1.23 million plus interest to 295 investors and fined the firm USD 400,000. Its inadequate supervision failed to detect repeated recommendations to sell unit investment trusts before maturity and buy new UITs, resulting in unnecessary sales charges and fees.

The Office of the Commissioner of Financial Institutions of Puerto Rico restricted Banex chairman and sole shareholder Luis A. Gasparini Sr. from controlling bank funds or disposing of assets allegedly financed with depositor money. The complaint seeks at least USD 13.78 million in restitution, USD 800,000 in fines and his removal and disqualification. The proposed sanctions remain subject to an administrative hearing on Oct. 6, 2026.

The Cyprus Ministry of Finance has formalized the appointments of Giorgos Karatzias as chair and Loukas Lagoudis as vice chair of the Cyprus Securities and Exchange Commission. Their appointments have been effective since Sept. 15, 2026.

The Office of the Commissioner of Financial Institutions of Puerto Rico immediately revoked Banex International Bank’s license, ordered it to cease operations and placed it into receivership and liquidation after finding it insolvent. The regulator cited more than USD 24 million in untraceable funds, capital funded with depositors’ money and extensive related-party receivables. It also proposed USD 534,000 in administrative fines, subject to adjudication.

The Office of the Commissioner of Financial Institutions of Puerto Rico ordered Banex International Bank into liquidation and appointed Driven P.S.C. as receiver after finding it insolvent. The regulator cited USD 46.9 million in depositor obligations against USD 10.2 million in cash and cash equivalents, more than USD 24 million in unverified in transit funds and extensive related party receivables. The receiver will take control of the institution, recover and liquidate assets, and administer depositor and creditor claims.

The Cyprus Ministry of Finance formalized the appointments of George Karatzias as CySEC chairman and Loukas Lagoudis as vice chairman. Their appointments have been effective since Sept. 15, 2026.

The Central Bank of the Dominican Republic is consulting on changes to the prudential capital adequacy rules that would incorporate operational risk capital into the solvency ratio formula. The amendments would align the framework with the revised Regulation on Operational Risk and apply from April 12, 2027.

Egypt’s Financial Regulatory Authority and the National Council for Women signed a protocol to expand women’s access to nonbank finance, financial technology and financial education while strengthening fraud prevention. The initiative includes joint training, data sharing and support for women-owned businesses, overseen by a joint committee.

Saudi Arabia’s Capital Market Authority is consulting on tighter IPO rules that would require book building orders to reflect participants’ actual liquidity and become binding for payment. The proposals would strengthen underwriting obligations and require issuers to provide at least one year of forward looking financial information. If approved, the provisions will take effect on Nov. 2, 2026.

The Reserve Bank of India has standardized commercial banks’ valuation of InvIT and REIT instruments with immediate effect. Quoted holdings follow existing quoted security rules, while unquoted units generally use disclosed net asset value and must be valued at INR 1 if required disclosures are not made or the units are classified as infrequently traded.