The Central Bank of Lesotho warned against four named illegal investment platforms and similar operations that promise high returns or falsely claim central bank authorization. Consumers should verify a provider’s current license directly with the central bank before investing or using its services.
The Central Bank of Lesotho warned against unlicensed investment platforms that solicit deposits or promise unusually high returns, with some falsely claiming central bank authorization. It named four schemes and urged investors to verify licenses before committing funds.
The Tanzania Insurance Regulatory Authority plans to enhance supervision of health insurance in the Tanga region to address service delivery challenges and ensure compliance with the universal health insurance law, as outlined by Dr. Emmanuel C. Lupilya during a regional meeting.
The Tanzania Insurance Regulatory Authority issued a brief New Year greeting message for 2026.
Cyprus Finance Minister Makis Keravnos will attend the Eurogroup meeting on 19 January 2026 and chair the ECOFIN meeting on 20 January in Brussels. The Eurogroup will discuss Bulgaria's euro adoption, euro area economic policy priorities, G7 finance meetings, France's 2026 presidency, and ECB Vice-President nominations. ECOFIN will address the Cyprus Presidency work programme, the economic impact of Russia's invasion of Ukraine, revised Recovery and Resilience Plans, the 2026 Alert Mechanism Report, and an excessive deficit procedure for Finland.
The Federal Reserve Bank of Kansas City announced director election results and appointments for its head office and branch boards, effective 1 January 2026. Key appointments include John J. Coyne III and Navin Dimond at the head office, with Jandel Allen-Davis designated as chair, and various reappointments and new designations at the Denver, Oklahoma City, and Omaha branches.
The Central Bank of Colombia released Operational and Services External Circular DFV-102 Subject 8, detailing that service fees from its Fiduciary and Securities Department are determined by the bank’s Administrative Council and listed in the Subject 08 fee schedule.
The Central Bank of Colombia reminded compensation account holders that the Informe de Movimientos for December 2025 operations can be submitted via the Sistema de Información Cambiaria until 2 February 2026, with deadlines adjusted if the last day of the month is not a business day. Stakeholders are encouraged to subscribe to the “Exchange Regime” mailing list for updates and training.
The Central Bank of Colombia released a working paper developing national and regional economic sentiment and uncertainty indices using text mining of economic news, which serve as near real-time signals for short-term macroeconomic analysis. These indices, constructed from digital media, show significant relationships with monthly macro variables and improve real-time predictions when used in forecasting models.
A European Central Bank working paper by Reiner Martin and co-authors evaluates public Asset Management Companies (AMCs) in financial-crisis support by purchasing delinquent loans. Using euro area data, the study suggests well-designed AMCs enhance bank lending and macroeconomic outcomes, with welfare gains of 0.2% to 0.5% of steady-state consumption. The paper highlights examples from Ireland, Slovenia, and Spain, where AMCs significantly impacted GDP.
The Intergovernmental Action Group against Money Laundering in West Africa has opened a call for a national individual consultant to conduct the mid-term evaluation of its 2023-2027 Strategic Plan. The review will assess delivery against objectives and KPIs, test the effectiveness of implementation and recommend adjustments for the remaining period. The assignment is expected to be completed by 31 March 2026, with applications due by 02 February 2026.
GIABA issued revised procedures for its second round AML/CFT mutual evaluations of member states. The framework sets the timetable and review steps from pre-on-site submissions through plenary adoption and publication. It also makes regular biennial follow-up the default while reserving annual enhanced follow-up for countries with specified technical compliance or effectiveness weaknesses.
The Inter-Governmental Action Group against Money Laundering in West Africa has issued revised procedures for its third round of AML/CFT/CPF mutual evaluations and follow-up. The framework sets risk-based rules for assessments, limits technical compliance reviews to changed areas, and defines thresholds for enhanced follow-up and FATF ICRG referral. It also expects members to address key recommended actions within three years and allows escalation if progress is insufficient.
The Inter Governmental Action Group against Money Laundering in West Africa has issued a guide governing how technical assistance information is shared within GIABA and with recipients, donors, other providers and the public. It makes basic information on technical assistance and project administration generally shareable, while treating underlying working material and final advice as confidential and subject to recipient consent, management approval and classification rules. The guidelines took effect on November 21, 2025.
GIABA has issued a 2026 strategy updating how it provides and coordinates AML, CFT and proliferation financing technical assistance. The framework ties support more closely to third round mutual evaluations, uses risk based prioritization, and defines the main delivery tools, eligibility rules and exclusions. It also formalizes governance, donor coordination and results-based monitoring.
GIABA has published Mali’s sixth enhanced follow-up report, upgrading 13 FATF technical compliance recommendations and leaving Recommendation 14 on money or value transfer services at Partially Compliant. The report says Mali has now exited enhanced follow-up, with three remaining Non-Compliant or Partially Compliant ratings and none of them a key recommendation. Mali will next prepare for an on-site visit in its third round mutual evaluation.
GIABA’s fourth enhanced follow-up report for Niger finds enough progress on technical compliance to upgrade five FATF recommendations. Recommendation 14 was raised to Compliant, while Recommendations 8, 10, 12 and 19 were raised to Largely Compliant. Niger remains under enhanced follow-up, with its next report expected in November 2026.
The Intergovernmental Action Group Against Money Laundering in West Africa has opened recruitment for eight permanent positions in Abidjan and Dakar, with applications due by 28 February 2026. The roles span AML/CFT policy, evaluation and research functions as well as administration, protocol, interpretation, human resources and documentation support. Applicants must be ECOWAS nationals, and some General Service posts are subject to local recruitment rules.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has amended its Manual of Regulations for Non-Bank Financial Institutions to introduce an annual supervision fee for NBFIs with trust authority, effective 15 days post-publication. The fee, calculated as 1/28 of 1% of average assessable assets, is due by 31 May each year, with non-payment potentially leading to sanctions. The circular clarifies these fees are tax-exempt for the BSP.
CAPSA released procedures to implement the 2020 Agreement on Multi-jurisdictional Pension Plans, amended in 2023. These outline how member authorities will coordinate supervision and communication between major and minor authorities, covering decision-making, dispute resolution, and information sharing. Effective 1 January 2026, they ensure consistent application of key provisions across jurisdictions.
Jordan Securities Commission chair Imad Abu Haltam and the board met with the Czech Republic’s ambassador and Volterra’s regional director to discuss cooperation on digital transformation and cybersecurity projects, aiming to support a secure investment technology environment amid the implementation of the virtual assets trading system.
The Central Bank of Nepal's Financial Information Unit released the "Strategic Analysis Report, 2025 on Virtual Assets," highlighting money laundering and terrorist financing risks linked to virtual assets, which remain illegal in Nepal. The report identifies criminal activities associated with virtual assets and recommends enhancing supervision, inter-agency coordination, and public awareness to address these challenges.
The National Bank of Ukraine has removed the Bulgarian lev from its official hryvnia exchange rate list, effective 2 January 2026, due to Bulgaria's accession to the euro area on 1 January 2026.
The Ukraine National Commission on Securities and Stock Market issued a New Year greeting, expressing wishes for peace, confidence, and good news in 2026, while acknowledging upcoming challenges and opportunities.
BaFin issued a time-limited order allowing certain cooperative banks to classify new member shares as Common Equity Tier 1 (CET1) and pre-approve repayments of CET1-eligible shares, provided they meet specific Capital Requirements Regulation criteria. This measure, effective until 31 December 2026, requires compliance with risk-based and leverage ratio requirements, and mandates reporting to BaFin and the Deutsche Bundesbank.
The European Central Bank issued a notice with only the date "1 January 2026" and no additional details.
The European Central Bank released a document for Eurosystem counterparties detailing the mobilisation, management, and return of eligible assets as collateral for credit operations. It outlines the Collateral Management Guideline framework and the Eurosystem Collateral Management System's role, covering mobilisation channels, non-marketable collateral procedures, operational parameters, and settlement discipline measures, including specific cut-off times and cross-border credit claim requirements.
The European Central Bank announced Bulgaria's adoption of the euro, making it the 21st euro area Member State, with the Bulgarian National Bank joining the Eurosystem and the Single Supervisory Mechanism. The ECB will supervise significant Bulgarian institutions, and Bulgaria will participate in ECB operations and TARGET services, following the official conversion rate set in July.
The Central Bank of Peru reported that inflation in Metropolitan Lima ended 2025 at 1.5%, the lowest in eight years and within the target range, marking Peru as having the lowest inflation rate in the region. The bank expects inflation to be 2% in 2026 and 2027, contingent on stable economic conditions and dissipating supply shocks.
The Central Bank of Bolivia announced that the quantitative targets from the Second Review of the 2025 Fiscal-Financial Program are within established limits, with monitoring now publicly accessible. Signed on 25 November 2025, the review tightened monetary policy and outlined a path for a more flexible foreign exchange regime to support balance of payments equilibrium and mitigate external shocks. The update expanded quantitative targets and introduced a robust management framework with monthly monitoring.
The Polish Financial Supervision Commission's Steering Committee of the National Working Group on Benchmark Reform recommended replacing WIBOR/WIBID benchmarks in PLN legacy portfolios for business clients with the POLSTR benchmark or the POLSTR Compound Index Family benchmarks.
The Angola Insurance Authority (ARSEG) released its main quarterly indicators for Q3 2025, now accessible on its website.
The Montenegro Capital Market Authority approved the prospectus for PRVA BANKA CRNE GORE's public offering of 3,000 subordinated bonds, each with a nominal value of EUR 1,000, totaling EUR 3,000,000. The issuance aligns with the bank's decision on issuing subordinated bonds.
The Montenegro Capital Market Authority has approved the prospectus for the public offering of 152,066 ordinary shares by the Institute for Physical Medicine, Rehabilitation and Rheumatology “Dr Simo Miloševic” A.D. Igalo, totaling EUR 23,560,634.64. The approval aligns with the issuer’s share issuance decision and was adopted at the Authority’s 163rd session on 29 December 2025.
The Montenegro Capital Market Authority has approved the trading of units in the Bluesmart Premium Equity Fund on the Montenegro market. Managed by Bluesmart Investments AD, the fund aims for long-term capital growth through investments in liquid equities. This approval seeks to enhance Montenegro investors' access to international investment products.
Indonesia's Financial Services Authority (OJK) met again with lenders to Dana Syariah Indonesia (DSI) to address repayment delays and review enforcement actions, including special supervision and account blocking. OJK instructed DSI's leadership to provide a clear repayment plan and imposed restrictions on business activities, banning new fundraising and financing, and limiting asset transfers and governance changes. This follows DSI's chief executive's previous commitment to a phased repayment plan and resolution strategy.
The Bank of Botswana announced enhancements to the clearing and settlement framework for Electronic Funds Transfers, mandating changes for all licensed commercial banks and the Bankers Association of Botswana. A fourth weekday settlement window will be added to the Botswana Interbank Settlement System, increasing daily cycles to four. Banks must credit beneficiaries' accounts immediately after each cycle or within 60 minutes of settlement confirmation.
Tanzania's Ministry of Finance directed TIB Development Bank to enhance its operating systems and refocus on its founding objectives to support the National Development Vision 2050. The bank must address financial issues, improve debt recovery, and implement governance reforms, with a strategy due within 12 months. TIB plans to invest over TZS 5 trillion in job creation, agricultural projects, and financial sector reforms over the next 25 years.
Saudi Arabia's Capital Markets Authority approved Dar Albalad For Business Solutions Company's application to register and offer 21,000,000 shares, representing 30% of its share capital. The prospectus will be published before the subscription period, detailing financial statements, business activities, and management. The approval is valid for six months and is not a recommendation to subscribe.
The Saudi Arabia Capital Market Authority (CMA) approved Mutlaq Al-Ghowairi Contracting Company's application to register and offer 240 million shares, representing 30% of its share capital. The prospectus will be published before the subscription period, detailing necessary investment information. CMA approval confirms compliance with legal requirements but is not a subscription recommendation.
The Saudi Arabia Capital Markets Authority approved Kesay Clinics Company's application to register and offer 2,000,000 shares, representing 5% of its share capital, in the Parallel Market, limited to Qualified Investors. The approval is valid for six months, contingent on completion of the offering and listing within this period.
The Saudi Arabia Capital Markets Authority confirmed that Alfanar United Capital Company has fulfilled the requirements to commence its Managing Investments activity under its securities business licence, approved on 5 May 2025.
The Saudi Arabia Capital Markets Authority approved Emkan Finance Company’s application to register and publicly offer debt instruments under a programme valued at SAR 5 billion. The prospectus, to be published before the subscription period, will include financial statements, management details, and risk factors. The approval is valid for six months and is not a subscription recommendation.
Governor Natia Turnava's year-end review of the National Bank of Georgia outlines 2025 policy actions, including monetary policy tightening to stabilize prices and reduce inflation. Key developments include scenario-based monetary policy communication, a foreign exchange policy targeting over USD 6 billion in reserves, and progress in larization and de-dollarization. Legislative changes enhance financial consumer protection and market oversight, with advancements in virtual asset supervision, payment competition, and capital markets, alongside an RTGS upgrade and instant payment system launch planned for 2026.
The National Bank of Georgia amended the Regulation on the Calculation of TIBR Indices, enhancing the Tbilisi Interbank Rate (TIBR) methodology for improved accuracy and timeliness. The updated approach uses 80% of transaction volumes, replacing the previous 70% transaction count method, and refines contingency arrangements. These changes were developed with input from money market participants and European Bank for Reconstruction and Development Treasury specialists.
The National Bank of the Republic of North Macedonia, led by Governor Trajko Slaveski, outlined an optimistic 2026 economic outlook, emphasizing growth driven by infrastructure investments and private consumption. The central bank will focus on maintaining currency stability and controlling inflation. However, risks remain due to global geopolitical uncertainties, including the war in Ukraine and EU-China relations.
The National Credit Union Administration issued Orders of Prohibition against Rita Hartman, Teresa Margiotta, and Evelyn Bittar, permanently barring them from participating in any federally insured depository institution. Each individual consented to the orders to settle claims by the National Credit Union Administration Board. These orders prevent future employment in such institutions and are part of the agency's broader enforcement measures.
The Central Bank of the Republic of China reported November data on China's financial markets, highlighting a total bond issuance of CNY 7.02 trillion and custody balances of CNY 196.3 trillion. Foreign institutions held CNY 3.6 trillion, primarily in government and policy bank bonds. Interbank cash bond turnover was CNY 30.5 trillion, with significant activity in trades of CNY 5–50 million and above CNY 90 million.
The People's Bank of China outlined priorities for 2026 foreign exchange reserve operations, emphasizing risk prevention, global economic monitoring, and high-quality reserve management. Governor Pan Gongsheng praised the Central Foreign Exchange Business Center's 2025 efforts in risk control and professionalism, linking these to asset safety and growth. He stressed aligning with central policy decisions and financial system requirements in the first year of the 15th Five-Year Plan.
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) released a draft regulatory standard for updating sums insured in housing-related property insurance policies starting or renewing in Q2 2026. The draft sets the Building Index at 583.79, the Household Contents Index at 359.38, and the Combined Index at 494.03, with noted percentage increases from the previous quarter and year. Policyholders should ensure insured values are appropriate, considering regional variations and asset changes.
The Financial Services and the Treasury Bureau of Hong Kong released the 2024-25 annual report of the Process Review Panel for the Securities and Futures Commission (SFC), confirming adherence to internal procedures and suggesting procedural enhancements. The review covered 60 cases, with the SFC showing cooperation and a positive response to recommendations. Public and market feedback on the PRP’s work was also invited.
The Financial Services and the Treasury Bureau of Hong Kong acknowledged the annual report of the Process Review Panel for the Securities and Futures Commission, reviewing the SFC's internal processes and operational procedures for 2024-25. The report includes observations and recommendations to enhance the fair and consistent exercise of the SFC’s regulatory powers. The PRP, an independent panel, assessed enforcement, licensing, supervision of intermediaries, and complaint handling.
The Hong Kong Securities and Futures Commission (SFC) acknowledged the Process Review Panel’s 2024-25 annual report, which includes observations and recommendations from a review of 60 SFC cases. The recommendations aim to enhance regulatory effectiveness and support cross-divisional and cross-agency collaboration. The SFC will evaluate these suggestions to improve operational procedures.
The Financial Services Regulatory Authority of Ontario will implement a new labour mobility licensing process on 1 January 2026, enabling eligible financial services professionals from other Canadian jurisdictions to receive expedited work authorization in Ontario. This "as of right" approach allows applicants to start working upon FSRA's receipt of a complete application, with set timelines for regulatory response and penalties for false representations. The change affects sectors such as mortgage brokering, insurance agents, insurance adjusters, and health service providers.
Peru's SBS has amended regulations for electing representatives to CMAC boards, aligning with Law No. 32515. Changes include candidates' moral suitability, board chairs' continuity, and Vice Ministry involvement. Amendments also address board operational continuity, internal audit verification, and nomination regulations for CMACs with third-party shareholders.
The Austrian Financial Market Authority (FMA) released guidance on when insurers can adjust premiums and the rights of policyholders in such cases. Premium adjustments must be based on clear clauses in the insurance policy or general terms, often linked to price indices or fixed percentages. The FMA advises policyholders on options like objecting or adapting tariffs but warns of potential drawbacks when switching insurers.
The Hong Kong Monetary Authority released analytical data on Hong Kong's foreign currency reserves and liquidity for November 2025, adhering to the International Monetary Fund's Special Data Dissemination Standard. The HKMA issues four monthly Exchange Fund data press releases, including SDDS monetary data and an abridged balance sheet, under its transparency policy.
The Hong Kong Monetary Authority released the Exchange Fund Abridged Balance Sheet and Currency Board Account for November 2025, noting a decrease in total Exchange Fund assets to HKD 4,106.9 billion. The Monetary Base increased by 0.3% to HKD 2,032.2 billion, and Backing Assets rose by 0.6% to HKD 2,241.3 billion, raising the Backing Ratio to 110.29%. Foreign currency assets fell by HKD 9.9 billion, while Hong Kong dollar assets decreased by HKD 0.8 billion, driven by market revaluations and bond issuances.
The Hong Kong Monetary Authority's November 2025 residential mortgage survey reported declines in mortgage applications, approvals, and drawdowns, despite a slight increase in outstanding mortgage loans to HKD 1,913.5 billion. Applications fell 2.9% to 8,019, and approved loans decreased 7% to HKD 29.1 billion, with primary market financing dropping 12.6% and refinancing down 9.6%. The delinquency ratio remained at 0.14%, and the rescheduled loan ratio was nearly 0%.
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites and fake internet banking login screens linked to OCBC Bank (Hong Kong) Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information by phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
The Hong Kong Monetary Authority completed its annual assessment of Domestic Systemically Important Authorized Institutions, confirming no changes to the designated list or Higher Loss Absorbency requirements. Under Hong Kong’s D-SIB framework, these institutions must integrate a Higher Loss Absorbency requirement of 1% to 3.5% into their regulatory capital buffer, extending the Basel III Capital Conservation Buffer and imposing restrictions on discretionary distributions if the Common Equity Tier 1 ratio falls within the extended buffer range.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reissued a licence to Home Credit Bank JSC, now legally named Home Credit Bank Joint Stock Company (Subsidiary Bank of ForteBank JSC), for banking operations under Kazakhstan’s banking legislation. This follows Deputy Chair’s order No. B-345 dated 30 December 2025.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued a securities market licence to JSC Central Securities Depository, effective 29 December 2025.
The Middle East and North Africa Financial Action Task Force (MENAFATF) published a high-level overview of its 2025 activities under the Jordan presidency.
The Thailand Office of Insurance Commission (OIC) implemented monitoring and consumer support measures during the New Year "seven dangerous days" from 30 December 2025 to 5 January 2026, focusing on Phuket due to high travel and accident risks. The OIC Secretary-General assessed local conditions and agency coordination at the Tha Chat Chai checkpoint. The OIC also promoted microinsurance products, including "Aun Jai Kham Pi" and "Ban Aun Jai," with premiums starting at THB 10.
The Arab Monetary Fund's study, “The Productivity and Growth Assessment Framework (PGAF),” analyzes economic growth sources, emphasizing total factor productivity and production inputs, and benchmarks Arab countries against regional and international peers. It underscores efficient resource use and structural factors for sustainable growth, advocating balanced, data-driven economic policies in Arab economies.
The Jordan Securities Commission signed a memorandum of understanding with Al-Mamlaka TV to enhance investor education through television bulletins and content on investment basics, risks, and warnings against unlicensed companies and fake profit offers. The initiative focuses on managing investment risks, verifying licensing, and avoiding misleading advertisements.
The Liechtenstein Financial Market Authority announced that Ganten Treuhand AG has waived its registration as a TT Depositary, effective 23 December 2025, resulting in the lapse of its registration. Consequently, the firm is no longer authorized to provide TT services requiring registration. The waiver and lapse are cited under Articles 12(1), 2(1)(n), and 20(1)(a) of the TVTG.
The Liechtenstein Financial Market Authority has authorized Bank Frick AG, Balzers, under Article 60(1) of Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR). The bank is permitted to offer safekeeping, administration, order execution, and transfer services for crypto-assets, effective 23 December 2025.
The Liechtenstein Financial Market Authority has issued Directive 2026/1 and Notice 2026/1, updating requirements for special statutory auditing and reporting by auditors. The new guidelines apply to financial intermediaries with fiscal years ending on or after 1 January 2026, and replace the previous notice from 2024.
The Central Bank of Brunei Darussalam released the Business Sentiment Index for November 2025, showing stable current business conditions at 50.0 and slight optimism for December at 50.1. The investment sub-index remained mildly expansionary, while employment was marginally contractionary at 49.9. Costs were expected to ease in November and rise in December, with sector sentiment slightly positive in Finance, Insurance, Real Estate, and Manufacturing.
The South African Reserve Bank released its Template on International Reserves and Foreign Currency Liquidity for November 2025, detailing official reserve assets of USD 72.068 billion. The report includes a breakdown of short-term foreign currency assets, liabilities, and liquidity, with USD 68.687 billion in Special Drawing Rights currencies and USD 3.381 billion in other currencies. Predetermined net drains within one year total USD 3.885 billion, and contingent liabilities amount to USD 1.231 billion.
The South African Reserve Bank released updated gross external debt statistics, indicating an increase to USD 193,047 million as of 30 September 2025 from USD 180,237 million at 30 June 2025. The general government remains the largest component at USD 93,981 million, primarily in long-term debt securities. Deposit-taking corporations excluding the central bank reported USD 38,832 million, predominantly short-term debt.
The South African Reserve Bank reported a marginal increase in South Africa's net international investment position to ZAR 2,488 billion at end-September 2025, driven by a rise in foreign assets. Foreign assets grew by 4.8% to ZAR 10,454 billion, while foreign liabilities increased by 5.9% to ZAR 7,966 billion, influenced by higher portfolio investment liabilities and non-resident purchases of government bonds.
Bank Negara Malaysia has reappointed three members to its Shariah Advisory Council (SAC) for terms from 1 January 2026 to 31 December 2028, maintaining the council's composition at eight members. The SAC, the highest authority for Islamic law in Malaysia's financial sector, advises on Shariah issues and provides rulings for Islamic financial institutions. Datuk Prof. Dr. Mohamad Akram Laldin will complete his service on 31 December 2025.
Bank Negara Malaysia disclosed Malaysia's international reserves as of end-November 2025, in line with the International Monetary Fund Special Data Dissemination Standard. Official reserve assets were USD124,121.5 million, with other foreign currency assets at USD266.2 million. The reserves remain usable, with detailed projections of foreign currency inflows and outflows over the next 12 months.
Bank Negara Malaysia imposed a MYR 10,200 penalty on Mayfair Forex Sdn. Bhd. for failing to comply with customer due diligence requirements under relevant financial regulations. The breach, identified during an on-site examination, involved a money-changing transaction exceeding MYR 3,000. Mayfair has since improved its compliance measures, and the penalty reflects the severity of the non-compliance and the company's remedial actions.
Bank Negara Malaysia imposed Administrative Monetary Penalties on 10 money services business licensees for non-compliance with regulatory requirements, including failures to submit statistical information and meet minimum capital funds. Penalties ranged from MYR 1,500 to MYR 3,000, based on non-compliance frequency and historical records. All firms have paid the penalties and taken remedial actions.
The Brazil Securities Commission (CVM) released the second edition of "TOP Derivatives Market in Brazil – Concepts, Products and Operations," updating educational material on derivatives as risk-management and investment tools. It includes expanded coverage of new structures like flexible barrier options and Structured Operations Certificates, reflecting updates to CVM rules and market developments since 2015. The book is available for free on the Investor Portal as part of the TOP Books series.
The Saudi Arabia Insurance Authority has launched the second phase of a master's program covering actuarial science and insurance and risk management, starting in 2026. The program, delivered with Bayes Business School and coordinated with the Saudi Financial Academy, will provide relevant professional accreditation and prepare Saudi nationals for specialized insurance roles.
Vietnam's State Securities Commission (SSC) has issued a tender for a consultancy to oversee the implementation of its IT system for management and supervision. The contract, funded by public investment, will last 12 months and be awarded through a domestic open tender using a one-stage, two-envelope procedure on the National E-Procurement System.
The Vietnam State Securities Commission's Technology and Digital Transformation Department has issued a tender for consultancy services to oversee the implementation of its centralised Data Warehouse project. The 12-month consultancy, funded by the state budget, will be selected through a domestic open tender on the National E-Procurement System using a one-stage, two-envelope process.
The Vietnam State Securities Commission has requested 11 individuals to pay a VND 1,000,000 fee for a securities practising certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person. Failure to complete the procedure within one year will result in certificate cancellation.
The Middle East and North Africa Financial Action Task Force released highlights of its 2025 activities under the Jordan presidency.
The Central Bank of Malta announced the appointment of Alexander Demarco as Governor for a five-year term starting 1 January 2026, following unanimous approval by the Parliamentary Public Appointments Committee. Demarco, previously Deputy Governor responsible for Monetary Policy, has served in various roles including Acting Governor and member of the European Central Bank’s Supervisory Board.
The National Bank of the Kyrgyz Republic approved a new regulation establishing minimum internal control requirements for exchange bureaus to combat criminal financing and money laundering. This aligns with recent amendments to national law, Cabinet of Ministers' measures, and Financial Action Task Force standards. The resolution was adopted on 19 December 2025 and is available on the National Bank's website.
The National Bank of the Kyrgyz Republic has amended its regulatory framework for microfinance organisations (MFOs) and guarantee funds, including updates to MFO periodic reporting forms. The changes address rules for MFOs, including those using Islamic financing principles, and adjust regulations for guarantee fund activities.
The Bank of Botswana published its exchange rate framework for 2026, with no further details provided.
The State Bank of Pakistan has launched the Pakistan Financial Inclusion Index (P-FII), a composite measure assessing access, usage, and quality of financial services, with a 2024 inclusion score of 58.1. The index, comprising 69 indicators, supports the National Financial Inclusion Strategy 2024–28 and aligns with international practices. Results will be disseminated annually, with a detailed methodology paper available on the SBP website.
The Federal Deposit Insurance Corporation (FDIC) updated resolution planning expectations for covered insured depository institutions (CIDIs) as it prepares amendments to the IDI Rule, highlighting 2026 rulemaking priorities and capabilities testing for its virtual data room. Amendments will codify content requirement exemptions and address overlaps with the Title I Rule, focusing on rapid, low-cost resolution under the Federal Deposit Insurance Act. CIDIs with USD 50 billion or more in assets will have adjusted submission requirements for 2026, with capabilities testing beginning early that year.
Moldova's National Commission for Financial Markets made decisions on capital markets, consumer protection, and its supervisory programme. Actions include registering a share restructuring by VIITORUL NOSTRU SA, approving valuation reports for securities sales by fiduciary administrators, and upholding a decision against Victoriabank SA for misleading currency exchange rate displays. The Commission also approved its 2026 inspection activity plan.
Egypt's Prime Minister appointed Mahmoud Jibril, Walid Anwar, and Counsellor Ahmed Mohamed Taher Sheta as assistants to the chairman of the Egypt Financial Regulatory Authority (FRA). These appointments enhance the FRA's leadership under Chairman Dr. Mohamed Farid Saleh, appointed by presidential decree in August 2025. Jibril, Anwar, and Sheta bring extensive experience in market protection, non-banking financial supervision, and legal expertise.
The Chile Financial Market Commission (CMF) warned about three entities falsely claiming CMF supervision while offering loans that require advance payments but never materialize. The CMF filed fraud complaints against Proel Finanzas, CREDIPOL, and CrediJusto with the Public Prosecutor's Office. The CMF also emphasized its online Fraud Alerts Page for verifying supervision and reviewing alerts on unregulated entities.
The Chile Financial Market Commission (CMF) issued a public alert regarding five unsupervised mobile applications offering predatory loans and filed a criminal complaint against those responsible. The apps, available on Google Play and other websites, include APP YAPI CASH and APP SABA PRESTAMO SEGURO. The CMF advises users to consult its Fraud Alerts Page for information on supervised entities and client protection guidance.
The Ministry of Finance (Thailand) announced Cabinet approval of medium-term monetary policy objectives and 2026 objectives, as agreed by the Monetary Policy Committee and the Minister of Finance. This aligns with Section 28/8 of the Bank of Thailand Act 1942 as amended.
The China Securities Regulatory Commission (CSRC) endorsed expanding special representative litigation and voluntary advance compensation in securities misrepresentation disputes. Highlighting recent cases, the CSRC emphasized the "explicit opt-out, implicit join" design as a cost-effective collective pathway for investors. The CSRC will continue supporting the China Securities Investor Services Center in its public-interest role and encourage voluntary advance compensation under the Securities Law.
The China Securities Regulatory Commission has issued a programme to enhance the real estate investment trusts (REITs) market, focusing on commercial real estate REITs' growth, market supply expansion, and risk prevention. Key measures include refining issuance and listing processes, supporting asset management company participation, and promoting REITs in the Shanghai-Shenzhen-Hong Kong Stock Connect. The programme also aims to standardize offering practices, improve transparency, and strengthen full-chain supervision.
The China Securities Regulatory Commission has launched a pilot programme for commercial real estate real estate investment trusts (REITs), establishing definitions, fund registration, operational requirements, and an oversight framework. The framework includes fund manager responsibilities, compliance standards, and regulatory oversight. Following public consultation, the CSRC will now focus on implementing the regime.
The China Securities Regulatory Commission released draft Regulatory Rules for Board Secretaries of Listed Companies for public consultation to standardize functions and enhance governance. The draft outlines responsibilities in disclosure, governance, and communication, introducing safeguards and stricter appointment criteria. It mandates regular performance evaluations and accountability measures for board secretaries.
The China Securities Regulatory Commission has approved the Dalian Commodity Exchange's registration of coking coal options. It will oversee the exchange's preparatory work to ensure a smooth launch and stable operation.