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2025-12-08•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported a 21.9% decrease in consumer complaints in Tabasco from January to October 2025, with a 57.7% favourability rate for users. The most-complained-about products were the special credit report, credit card, and debit card, with multiple banking accounting for 39.7% of complaints. The total amount claimed was MXN 86.3 million, while recovered amounts rose by 34.2% to MXN 20.0 million.
Data & statisticsComplaints and dispute resolution
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2025-12-08•Jordan•Jordan Securities Commission
The Jordan Securities Commission hosted British Ambassador to Oman Philip Hall and London Stock Exchange Group’s Head of Core Markets for the Middle East and Africa, Abiy Ajayi, to discuss enhancing investment and capital markets coordination between the UK and Jordan. The meeting addressed investment opportunities, challenges, and cooperation between securities authorities, with updates on recent legislative and technological developments.
Policy & regulationCooperationCross-border cooperation
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2025-12-08•Liberia•Central Bank of Liberia
The Central Bank of Liberia said it will launch the Inclusive Instant Payment System on December 16, 2025. The platform will enable interoperable instant payments across banks and mobile money providers, including transfers between Lone Star MTN and Orange Liberia. Rollout will continue after launch with participating banks and operators.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-12-08•Liberia•Central Bank of Liberia
The Central Bank of Liberia said Liberia was unanimously endorsed to chair the West African subregion of the Association of African Central Banks for 2025/2026, with Sierra Leone as alternate chair. At the same meetings, Executive Governor Saamoi led a session on climate risk and outlined Liberia's agricultural and coastal vulnerabilities, along with the central bank's climate finance initiatives.
Institutional developmentLeadership change & appointmentsClimate risk and sustainable financeFinancial stability and systemic risk
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2025-12-08•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) issued Public Consultation Notice No 14/2025 on a draft resolution to update the regulatory framework for reinsurance. This proposal aligns with recent legal frameworks, replacing CNSP Resolution No 451/2022, and introduces changes like flexibility in retrocession limits and prohibitions on certain reinsurer clauses. Operational procedures will be detailed later by SUSEP, and the consultation is open for 20 days.
Policy & regulationRules & requirementsOther
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2025-12-08•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has initiated a public consultation on a draft resolution to standardize the submission and disclosure of insurance contract dispute information resolved through alternative dispute resolution methods. The proposal mandates electronic submission of non-identifiable dispute information by the administering chamber to SUSEP, which will publish it online. Insurers and cooperatives must ensure compliance, with sanctions for breaches.
Policy & regulationRules & requirementsComplaints and dispute resolution
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2025-12-08•Germany•BaFin
Germany's Federal Financial Supervisory Authority said a joint Operation Herakles action shut down 3,562 mostly German phone numbers used by suspected cybercriminals linked to fraudulent online platforms, along with 355 Austrian landline numbers. The numbers were allegedly used for online investment fraud and other scams, and the authorities said they will continue taking further measures.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-12-08•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) worked with the Cybercrime Centre and Baden-Württemberg State Criminal Police Office in Operation Herakles to dismantle infrastructure used by cybercriminals linked to fraudulent online platforms. By 5 December 2025, 3,562 German and 355 Austrian phone numbers suspected of facilitating scams were identified and shut down. The operation aims to disrupt crime-enabling telecommunications services and protect consumers, with further actions planned against cybertrading and other online fraud.
EnforcementInvestigations & enforcement actionsCyber resilience
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2025-12-08•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) emphasized transparency, integrity, and governance for International Anti-Corruption Day. PREVIC highlighted its Integrity Program and Regulatory Agenda as key mechanisms to prevent corruption and enhance accountability in the closed supplementary pension sector. The Regulatory Agenda serves as a transparency tool, while the Integrity Program aims to prevent, detect, and correct misconduct and promote ethical conduct.
Policy & regulationGuidance & interpretationCorporate governance
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2025-12-08•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission and Financial Supervisory Service, with Japan's Financial Services Agency, issued a joint readout from the Ninth Regular Korea-Japan Financial Shuttle Meeting and the 10th International Financial Cooperation Forum in Busan. They reviewed global macroeconomic developments, aligned on policy agendas, and discussed cooperation on financial stability, capital market reforms, and digital finance innovation. The authorities plan to reconvene for the 10th meeting in Japan next year.
Policy & regulationCooperationCross-border cooperation
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2025-12-08•Uganda•Uganda Capital Markets Authority
The Uganda Capital Markets Authority announced that employees under its market certification and competency standards must complete 35 annual Continuous Professional Development (CPD) hours, with up to 11 hours unstructured, starting 1 January 2028. CPD hours must be obtained from approved providers, with the cycle running from 1 July to 30 June. Compliance with these requirements will be part of representative licence conditions.
Policy & regulationRules & requirementsCapacity building
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2025-12-08•Malaysia•Malaysia Securities Commission
The Advisory Committee on Sustainability Reporting, chaired by the Malaysia Securities Commission, outlined its approach to non-compliance with sustainability reporting under Malaysia’s National Sustainability Reporting Framework. The phased review will focus on capacity building, with non-compliance addressed through engagement and corrective action, though serious breaches may lead to enforcement. The framework applies to listed issuers on Bursa Malaysia’s Main and ACE Markets and large non-listed companies with annual revenue of at least MYR 2 billion.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-12-08•Europe•European Central Bank
The European Central Bank's Working Paper No. 3163 analyzes the impact of homeowners' misestimation of home values on financial decisions, using U.S. data. Findings indicate that overvaluing housing wealth correlates with reduced equity exposure, increased consumption, and a higher allocation to safe assets. The study highlights significant misestimation among households, with implications for stock market participation and asset allocation.
ResearchOther
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2025-12-08•Europe•European Central Bank
The European Central Bank published a paper analyzing the interaction between rising asset prices, wealth inequality, interest rates, and welfare. It suggests expanding the supply of safe assets can reduce wealth inequality and improve welfare for less-wealthy savers, while welfare effects for entrepreneurs are state-dependent. The ECB clarifies the paper reflects the author's views, not necessarily those of the ECB or Eurosystem.
ResearchOther
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2025-12-08•Europe•European Central Bank
ECB Executive Board member Piero Cipollone outlined the Eurosystem's strategy to adapt central bank money for digital finance, emphasizing a public-private partnership across retail, wholesale, and cross-border payments. Initiatives include a digital euro, DLT-based wholesale transaction settlement, and expanded interlinking of fast payment systems. Challenges include fragmentation in retail payments, risks in tokenised finance, and inefficiencies in cross-border payments.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-12-08•Europe•European Central Bank
European Central Bank Executive Board member Isabel Schnabel discussed the euro area economy's growth above potential and inflation around 2%, with inflation risks shifting upward. She expects policy rates to remain stable absent large shocks, aligning with market expectations of a rate hike. Schnabel highlighted domestic demand, fiscal spending, and private investment as growth drivers, while noting energy price volatility and wage dynamics affecting inflation.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-12-08•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has launched an upgraded iMessage system, expanding it to cover all SEC services and enabling real-time tracking of public inquiries and service requests. The system centralizes online submissions and provides a unified workflow for ticket management, accessible via an Electronic SEC Universal Registration Environment account. It is available across all SEC offices, including the headquarters in Makati City and extension offices nationwide.
Institutional developmentTechnology & data transformationComplaints and dispute resolution
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2025-12-08•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission proposed a draft circular introducing a tiered approach to minimum public ownership for IPOs, with thresholds based on expected market value. The framework outlines five tiers, from a 33% minimum float for companies valued up to PHP500 million to a 12% minimum for those over PHP150 billion. Post-listing, maintenance requirements vary by tier, with specific conditions for addressing shortfalls.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-12-08•Russia•Central Bank of Russia
The Central Bank of Russia announced a 27% growth in Russia's sustainable development finance market in 2025, driven by risk-based regulatory incentives for priority projects. These incentives allow banks to reduce capital usage by 10–15% for qualifying loans and bonds. Companies have raised RUB 119 billion through corporate bonds for infrastructure and transportation, with sustainability bonds potentially reaching RUB 255 billion by early 2026.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-12-08•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has mandated life insurers to revise endowment assurance products to enhance customer fairness, following a market review. Key changes include compliance with Regulation 51(2)(b), a minimum 30-day cooling-off period, and a 12-month reinstatement period with full disclosure. Insurers must resubmit products for re-approval, with non-compliance potentially resulting in fines.
Policy & regulationRules & requirementsOther
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2025-12-08•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission released a compilation of stakeholder comments and its responses regarding the draft circular amending Circular 98/2020/TT-BTC on securities investment fund management. This aligns with legislative requirements for issuing normative legal documents.
Policy & regulationGuidance & interpretationOther
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2025-12-08•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission held a workshop to gather feedback on a draft decree regulating the issuance and trading of privately placed corporate bonds domestically and internationally. The draft aims to enhance the legal framework, align with existing laws, improve transparency, propose decentralization of supervision, and impose stricter financial conditions. The Commission targets corporate bond outstanding amounts to reach at least 25% of GDP by 2030, incorporating stakeholder feedback to refine the decree.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-12-08•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an annex to pay a VND 1,000,000 fee for a securities practising certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person, with specific reference details required. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-12-08•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission requires individuals listed in an attached roster to pay a fee of VND 1,000,000 for securities practice certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the commission. Failure to complete the certification process within one year of the fee notice will result in cancellation of the certificate.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-12-08•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has finalised its first targeted reporting reductions under the Future Banking Data programme, deleting 37 regulatory reporting templates and consolidating Financial Reporting (FINREP) scoping provisions into a single PRA Rulebook section. The changes apply to PRA-authorised UK banks, building societies, PRA-designated UK investment firms and qualifying parent undertakings (excluding credit unions), and include FINREP consolidation, clarified scoping conditions, aligned remittance dates and amendments to Supervisory Statement SS34/15. The PRA made minor drafting clarifications following consultation and signalled a forthcoming discussion paper on Future Banking Data, including potential refinements to cost-benefit analysis for future reporting changes.
Policy & regulationRules & requirementsRegulatory reporting
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2025-12-08•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC was involved in a CBSA enforcement case resulting in a CAN$36.9 million penalty against an Ontario business owner for failing to declare over 2,300 used vehicles exported to West Africa. Initiated in 2021, the investigation led to the seizure of extensive records and a Notice of Ascertained Forfeiture under the Customs Act. The CBSA received support from multiple agencies, including US Customs and Border Protection and Homeland Security Investigations.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-12-08•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC released a webinar on compliance obligations under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It covers risk-based supervision, enforcement, compliance officer appointment, risk assessments, know-your-client expectations, and major reporting and record-keeping requirements, including suspicious transaction and international electronic funds transfer reporting.
Policy & regulationGuidance & interpretationAML and CFT
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2025-12-08•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority has added 15 digital services to its TAMEEN portal. Insurance companies and service providers can now complete more registration, qualification, approval and operational procedures fully online.
Policy & regulationImplementation, projects & pilotsRegtech and suptechRegulatory reporting
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2025-12-08•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission is consulting on proposed amendments to rules for issuing and offering structured notes. These include aligning foreign securities qualifications with Thai standards, removing verification for SET100 index stocks, addressing program and single-issue offering rules, related fees, and clarifying requirements for the use of proceeds by debt instrument issuers. Additional exceptions are proposed for issuer qualifications when proceeds are used inconsistently with disclosed purposes, provided non-compliance is disclosed and approved.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-12-08•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has licensed Bereket Bank CJSC for banking operations in national and foreign currencies and authorized Aiyl Bank OJSC for specified precious metals operations in cash. These approvals, decided by the National Bank’s Board on 3 December 2025, include operations in refined bullion bars and coins of silver, gold, and platinum.
SupervisionAuthorisations & approvalsLicence approval
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2025-12-08•Hungary•National Bank of Hungary
The National Bank of Hungary (MNB) plans to enhance cooperation with the Hungarian Competition Authority (GVH) to lower inflation and maintain fair market competition. This collaboration will focus on joint research and analytical work to increase transparency and measure market competition. It will also support licensing, inspections, market supervision, and consumer protection efforts.
SupervisionCooperationDomestic cooperation
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2025-12-08•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini's June 2025 Annual Financial Stability Review shows a modest reduction in systemic risk, with the Aggregated Financial Stability Index at 0.32. However, vulnerabilities like fiscal imbalances and weakening bank profitability persist, with projections of rising systemic pressures if unaddressed. The Review also highlights legislative reviews for macroprudential tools, progress on a Deposit Protection Fund, and enhancements in macroprudential surveillance.
ResearchFinancial stability and systemic riskFinancial and market indicators
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2025-12-08•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria has issued final licences to 82 bureaux de change under the 2024 Regulatory and Supervisory Guidelines, effective 27 November 2025. Only those listed on the Bank's website are authorised to operate, with unlicensed operations being punishable under the Banks and Other Financial Institutions Act 2020. The approved entities are divided into Tier 1 (2 firms) and Tier 2 (80 firms).
SupervisionAuthorisations & approvalsLicence approval
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2025-12-08•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions’ Office of the Chief Actuary has released the 32nd Actuarial Report on the Canada Pension Plan (CPP), confirming its long-term financial sustainability. The report, based on demographic, economic, and investment trends, aims to guide policy decisions for CPP beneficiaries and contributors. An external peer review by Canadian Institute of Actuaries Fellows is scheduled for early 2026.
Research
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2025-12-08•United Kingdom•HM Treasury
HM Treasury's UK Anti-Corruption Strategy 2025 outlines over 100 commitments to combat dirty money and enhance integrity controls. Key measures include reforming the anti-money laundering supervisory system, expanding the City of London Police Domestic Corruption Unit with GBP 15 million in new funding, and increasing economic crime funding by GBP 110 million annually. The strategy targets professional enablers and strengthens integrity checks across police, prisons, and border functions, with plans for an illicit finance summit in 2026.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-12-08•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission hosted the annual Mediterranean Partnership of Securities Regulators meeting in Athens, focusing on cooperation and resilient capital markets. Key discussions included SME access to capital markets, AI and technological innovation, sustainable transition challenges, and financial stability.
SupervisionCooperationCross-border cooperationMarket development
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2025-12-08•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) and Greater Vancouver Realtors (GVR) have partnered to enhance regulatory oversight and reduce reporting burdens. BCFSA will access GVR's real estate transaction data for trend analysis and risk monitoring, while GVR gains on-demand access to BCFSA licensing data. This pilot aims to streamline data sharing and may expand province-wide after engaging with other real estate boards.
SupervisionCooperationData protectionRegulatory burden
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2025-12-08•United States•Office of the Comptroller of the Currency
Comptroller of the Currency Jonathan V. Gould emphasized efforts to encourage new bank charters at the Blockchain Association Policy Summit, highlighting the importance of a strong pipeline of de novo banks for a healthy financial system. He noted the OCC's commitment to leveraging its federal chartering authority to promote new entrants and referenced its history of chartering national trust banks with nearly USD 2 trillion in assets under custody.
Policy & regulationReform agendas & prioritiesOther
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2025-12-08•Global•Bank for International Settlements
The Bank for International Settlements' Quarterly Review reports an 87% rise in global interest rate derivatives turnover from April 2022 to April 2025, driven by benchmark reform, hedge fund arbitrage, and shifts in monetary policy expectations. Exchange-traded markets grew significantly, with overnight index swaps dominating over-the-counter markets. The study highlights challenges in market deepening due to central clearing complexities and the lack of exchange-traded government bond futures in many regions.
Research
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2025-12-08•Global•Bank for International Settlements
The Bank for International Settlements reported a 27% increase in average daily over-the-counter foreign exchange turnover to USD 9.5 trillion in April 2025, driven by US tariff-induced volatility and US dollar depreciation. Growth was notable in hedging instruments, with spot turnover up 42%, forwards up 51%, and options up 108% compared to April 2022. Despite increased activity, liquidity remained resilient, with no US dollar funding stress, and emerging market currencies' share of global turnover rose to 29%, led by the Chinese renminbi at 8.8%.
ResearchForeign exchange policy and markets
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2025-12-08•Global•Bank for International Settlements
The Bank for International Settlements (BIS) published a Quarterly Review article on using its derivatives statistics to analyze global markets and track structural changes. Key developments include the transition from Libor to risk-free rates in interest rate derivatives and increased use of foreign exchange derivatives for cross-border portfolio allocation. The BIS is reviewing its OTC derivatives statistics to address data gaps, particularly in FX derivatives, to enhance financial stability analysis.
Data & statisticsMarket development
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2025-12-08•China•China Banking and Insurance Regulatory Commission
At the Asian Insurance Forum 2025, the China Banking and Insurance Regulatory Commission highlighted challenges like interest-rate volatility, climate risks, AI adoption, and ties with non-bank financial assets. It urged insurers to adapt to interest-rate swings, reassess actuarial assumptions due to climate change, and manage risks from complex non-bank assets. The Commission also emphasized enhanced solvency and leverage constraints and ongoing cooperation with Hong Kong and international exchanges to improve regulatory frameworks.
SupervisionSupervision approach, priorities & toolkitClimate risk and sustainable finance
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2025-12-08•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced that Moody’s reaffirmed the Isle of Man Government’s Aa3 stable credit rating, citing economic diversity and substantial reserves. Moody’s projects real GDP growth of 2.5% in 2025, stabilizing to 3% in the medium term. The Government’s Summary Management Accounts forecast a full-year income surplus of GBP 24.1m, with total reserves exceeding GBP 2bn, despite a projected GBP 11.1m overspend by Manx Care.
Data & statisticsCredit ratings
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2025-12-08•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) has launched a market intelligence project to analyze investment strategies in growth assets by defined contribution and defined benefit pension schemes, focusing on private markets and infrastructure. This initiative involves collaboration with investment consultancies and industry bodies to identify market opportunities and constraints, aligning with efforts like the Mansion House Accord. TPR emphasizes improved governance and professional advice for trustees, with potential consolidation for underperforming schemes.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-12-08•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India (IRDAI) will host the 8th Asia-Pacific Regional High-Level Meeting on Insurance Supervision and the 20th Annual Meeting and Seminar of the Asian Forum of Insurance Regulators (AFIR) in Hyderabad from 9-11 December 2025. The events will address supervisory mandates, regulatory developments, protection gaps, and AI's role in insurance supervision, focusing on inclusive insurance and climate risk modelling.
SupervisionCooperationSupervision process and methodologies
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2025-12-08•Europe•European Insurance and Occupational Pensions Authority
EIOPA has elected Evelyne Massé, First Deputy Secretary General of the Autorité de contrôle prudentiel et de résolution, to its Management Board. Massé succeeds Margarida Corrêa de Aguiar and will serve a two-and-a-half-year term, with a possible extension. The Management Board, including the Chairperson, six national supervisory representatives, a European Commission representative, and the Executive Director, oversees EIOPA's mission and tasks.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-08•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas has launched a public consultation on proposed reforms to reduce cheque usage and transition to modern payment systems. Key proposals include capping cheque item limits, removing mandatory cheque payment provisions, and amending various acts to support digital payment instruments. The consultation is part of the bank's payments modernisation agenda.
Policy & regulationRules & requirementsPayments and payment systems
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2025-12-07•Israel•Bank of Israel
The Bank of Israel reported that Israel's foreign exchange reserves decreased by USD 529 million to USD 231,425 million at the end of November 2025, representing 39.7% of GDP, primarily due to government foreign exchange activity.
Data & statisticsBalance of payments and other external statistics
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2025-12-07•Global•Egmont Group
The Egmont Group announced the 2025 Global Top 50 Financial Crime Prevention Leaders list, highlighting the prominence of Financial Intelligence Unit leaders and their role in the anti-money laundering and counter-terrorist financing framework. Honourees include key figures from FINTRAC, FIU Netherlands, Egmont Group, U.S. FinCEN, NFIU, and AUSTRAC, with the selection based on innovation, impact, policy influence, leadership, and global reach.
Other
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2025-12-07•Global•Egmont Group
Egmont Group Vice Chair Daniel Thelesklaf participated in FIU Hong Kong's first international webinar on combating financial crime, emphasizing FIUs as data-driven intelligence hubs and the importance of technology and privacy-enhancing technologies. The event highlighted evolving cross-border information exchange and public-private partnerships, with participation from FIUs and law enforcement from 65 jurisdictions.
Policy & regulationCooperationAML and CFTRegtech and suptech
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2025-12-07•Qatar•Qatar Central Bank
Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani met with World Economic Forum President Børge Brende at the Doha Forum to discuss recent global economic developments.
Other
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2025-12-07•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission launched Insure Mall Thailand 2025, a digital platform offering insurance products from over 50 partners, with enhancements like improved product displays and gamification features. The "Insure Week" campaign from 8 to 14 December 2025 offers premium discounts and member-only benefits. Last year's platform recorded over 1.1 million visits and insurance purchases exceeding THB 247 million.
Policy & regulationImplementation, projects & pilotsOther
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2025-12-07•Thailand•Thailand Office of Insurance Commission
Thailand’s Office of Insurance Commission conducted an on-site visit in Songkhla to address flooding impacts and expedite indemnity payments for affected policyholders. Measures include accelerating claims settlement, enhancing damage assessment, and easing documentation requirements. The Secretary-General instructed OIC Region 9 to coordinate with insurers and establish local service points to assist residents and businesses.
SupervisionInterventionsOther
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2025-12-07•United States•U.S. Financial Services Committee
U.S. House Financial Services Chairman French Hill plans to advance housing affordability solutions in December 2025, after Senate-passed housing provisions were excluded from the Fiscal Year 2026 National Defense Authorization Act. Hill emphasized reducing regulatory barriers, increasing housing supply, and enhancing accountability, distinguishing the current Senate bill from the ROAD to Housing Act he previously sponsored.
Policy & regulationReform agendas & prioritiesOther
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2025-12-07•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority mandates government insurance funds to invest in equities on Egyptian exchanges via open-ended funds, applicable to those with investments over EGP 100 million. Allocations must be 5% to 20% of total assets, with exposure to any single fund capped at 5% of the insurance fund's assets or 10% of the open-ended fund's net asset value. This affects funds serving 29 million beneficiaries, with total investments of EGP 2.1 billion as of June 2025.
Policy & regulationRules & requirements
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2025-12-07•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the National Defense Authorization Act includes key national security priorities like the Protect Our Bases Act, an extension of the Defense Production Act, and the Foreign Investment Guardrails to Help Thwart China Act. These measures aim to enhance oversight of foreign land purchases near sensitive U.S. sites, strengthen critical supply chains, and regulate U.S. investments in sensitive technologies in China.
Policy & regulationRules & requirementsGeopolitical risk
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2025-12-06•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) and the North Kalimantan Regional Police completed a criminal investigation into alleged banking offences at PT BPD Kalimantan Timur dan Kalimantan Utara (Bankkaltimtara). The investigation uncovered alleged false entries in bank documents related to 47 credit facilities granted to 16 debtors. OJK applied relevant articles of the Banking Law and the 2023 Financial Sector Development and Strengthening Law, while the police are investigating under the Anti-Corruption Law, focusing on state loss recovery.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-12-06•China•Central Bank of the Republic of China
At the 2025 China Finance Society Academic Annual Meeting, People's Bank of China Vice Governor Lu Lei emphasized the renminbi's strength and potential for further strengthening. China Finance Society chairman Yi Gang highlighted building a modern financial system focused on inclusive and green finance, advocating for people-centred, commercially sustainable approaches and market-based solutions for a green transition.
Policy & regulationOtherFinancial stability and systemic riskMonetary policy decisions and developments
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2025-12-06•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission convened the International Insurance Symposium 2025 in Bangkok, focusing on building an "Insurance Community" to enhance Thailand's insurance capabilities amid changes. Linked to the Fifth Insurance Development Plan (2026–2030), it emphasized research, personnel standards, technology adoption, and InsurTech development. Sessions covered global economic trends, AI risks, ESG product innovation, and future cooperation with Japan, China, and South Korea.
Policy & regulationImplementation, projects & pilotsOther
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2025-12-06•China•China Securities Regulatory Commission
The China Securities Regulatory Commission emphasized function-first, higher-quality development, and creating world-class investment banks during the "15th Five-Year" period. It noted firms' weaknesses, signaled stronger regulation, and stressed cautious monitoring of financial innovation and crypto-assets. The Commission urged the Securities Association of China to enhance governance and self-regulation.
Policy & regulationReform agendas & prioritiesOther
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2025-12-06•Nepal•Central Bank of Nepal
The Central Bank of Nepal has signed a memorandum of understanding with the International Finance Corporation to develop climate finance in Nepal. The initiative includes creating a climate finance strategy, an implementation roadmap, and providing training and capacity-building for the Central Bank and the financial sector to address climate-related financial risks.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-12-05•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission presented its General Capital Markets Statistics at the Independent University of Angola, highlighting key market trends and indicators. The session, part of an ongoing academic lecture series, aimed to demonstrate the role of statistical data in economic and financial analysis to over 160 participants.
Financial literacy & educationFinancial literacy and education
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2025-12-05•India•Reserve Bank of India
The Reserve Bank of India amended its Non-Operative Financial Holding Company Master Direction, clarifying banking group organization and requiring prior RBI approval for new activities. Banks must conduct activities under Section 6(1)(a) to (o) of the Banking Regulation Act, 1949 directly, while specialized activities like mutual fund and insurance management must be through subsidiaries or joint ventures. NOFHCs must notify the RBI within 15 days of board resolutions for specialized activities, but prior approval is required for other business forms.
Policy & regulationRules & requirementsOther
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2025-12-05•India•Reserve Bank of India
The Reserve Bank of India has amended its Payments Banks – Undertaking of Financial Services Directions, 2025, updating the framework for payments banks offering third-party financial products through agency and referral arrangements. The amendments redefine "Agency Business" and "Referral Services," specifying permitted activities and restrictions on bank involvement in third-party processes. These changes, effective December 5, 2025, follow a review and stakeholder consultation.
Policy & regulationRules & requirementsOther
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2025-12-05•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported its delegation's visit to the Bank of Estonia and the Estonian Financial Supervision Authority to enhance cooperation and share expertise in central banking and supervision. Discussions covered macroeconomic developments, regulatory alignment with European standards, and supervisory tools. The visit aims to strengthen bilateral cooperation and support financial stability and supervisory quality.
Policy & regulationCooperationCross-border cooperation
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2025-12-05•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority published the 2024 Hong Kong insurance business statistics, revealing total gross premiums of HKD 635.2 billion. The data is based on regulatory returns from authorised insurers, with a summary annexed and further details accessible online.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-12-05•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission has adopted amendments to ordinances concerning insurance broker qualifications and the fee schedule. Changes update professional qualification examination terms and recognition of EU qualifications, and amend the fee collection ordinance. Promulgation in the State Gazette is pending.
Policy & regulationRules & requirementsLicensing framework and process
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2025-12-05•Kosovo•Central Bank of the Republic of Kosovo
Deputy Governor Dardan Fusha of the Central Bank of Kosovo discussed payments' future at the EU Winter School 2025, emphasizing regulation's role in fostering innovation and stability. He highlighted Kosovo's efforts to align with EU standards, integrate into the Single Euro Payments Area, and implement open banking and a national QR code standard. Fusha also noted regional cooperation on instant payments through a TIPS Clone initiative with support from the Bank of Italy and the World Bank.
Policy & regulationGuidance & interpretationFintech and insurtechPayments and payment systems
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2025-12-05•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission will hold a webinar for transfer agents on Dec. 17 as part of its compliance outreach series related to the 2024 amendments to Regulation S-P. The session will cover updated compliance obligations, including the Safeguards Rule, and provide guidance on examination interactions. A third event for small firms will be announced later.
Policy & regulationGuidance & interpretationCompliance
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2025-12-05•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) urged financial firms to enhance resilience and support government initiatives, including housing development and MSME financing. Key measures include a lower risk weight for residential mortgages and a focus on payment timeliness for mortgage asset quality. OJK emphasized the importance of digitalization paired with robust cybersecurity and will oversee banks' efforts to improve MSME credit access.
Policy & regulationGuidance & interpretationMarket development
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2025-12-05•Montenegro•Central Bank of Montenegro
Central Bank of Montenegro Governor Irena Radovic attended the EU–Western Balkans Summit, emphasizing Montenegro's reform progress and EU financial integration priorities, including payment system modernization. Radovic stressed regional economic cooperation and market integration for competitiveness and growth. Discussions with EU representatives focused on strengthening cooperation under Negotiation Chapters 4, 9, and 17 to support Montenegro's EU financial market integration.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-12-05•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) amended pawnshop regulations to streamline licensing and adjust supervisory and operational requirements, facilitating easier authorisation for district and city-level businesses while ensuring prudent governance. Key changes include simplified licensing for existing operators, revised appraiser rules, eased lending administration, and a framework for overseas branches. Effective 26 November 2025, the regulation supports new sharia pawnshop companies and expands cooperation between conventional and sharia financial institutions.
Policy & regulationRules & requirementsLicensing framework and process
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2025-12-05•Italy•Bank of Italy
The Bank of Italy is hosting a webinar on "The digital resilience and cybersecurity of the financial system: the role of central banks and supervisory authorities." The event is part of its International Technical Cooperation activities and is invitation-only for central banks from selected new EU Member States, EU candidates, EU neighbourhood policy countries, and other emerging economies.
Policy & regulationCooperationCyber resilience
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2025-12-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) issued an interim stop order against Stratos Trading Pty Limited (FXCM), preventing it from issuing contracts for difference (CFDs) to retail clients due to deficiencies in its target market determination (TMD). ASIC found FXCM's TMD unsuitable for medium-risk investors given the leverage, volatility, liquidity, and pricing risks of CFDs. The order also restricts FXCM from opening new retail trading accounts, though existing clients can still vary or close their positions.
SupervisionInterventionsTradingConsumer and investor protection
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2025-12-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) detailed its regulatory simplification program at the International Small Business Summit, aiming to enhance accessibility via a modernised business registry and improved website. Initiatives include a redesigned website, new regulatory resources search, and the RegistryConnect program. ASIC also discussed climate-related financial disclosure, highlighting that while mandatory for large entities, small businesses may face indirect requests and will receive support through educational materials and roadshows.
Policy & regulationImplementation, projects & pilotsRegulatory burden
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2025-12-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission released results from the 31st Financial Advisers Exam cycle, showing a 67.5% pass rate among 308 candidates, with 75.6% being first-time sitters. The exam results are governed by the Corporations (Relevant Providers – Education and Training Standards) Determination 2021, and unsuccessful candidates will receive feedback on areas of underperformance.
Data & statisticsOther
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2025-12-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has extended transitional relief for foreign financial services providers (FFSPs) by 12 months, exempting them from holding an Australian financial services licence until 31 March 2027. This applies to various ASIC instruments. Additionally, the Australian Government has introduced legislation for a new licensing exemption regime for FFSPs, set to commence 12 months after Royal Assent, with ASIC planning related measures by 1 April 2027.
Policy & regulationRules & requirementsLicence approval
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2025-12-05•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market approved amendments to its 2025 rule-making plan and advanced draft amendments to existing decisions and martial law procedures. It imposed supervisory prohibitions on depository accounting changes and securities transactions, and adopted registration and licensing decisions for share issues, bond documentation, and corporate investment funds.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-12-05•Angola•Ministry of Finance (Angola)
Angola's Ministry of Finance unveiled the National Financial Inclusion Strategy 2025–2027, aiming for 65% financial inclusion by 2027 through better access to savings, credit, insurance, and payment systems. With 51% of Angolans outside the formal financial system, the strategy emphasizes financial literacy, digital banking, and microcredit expansion. The National Bank of Angola and the Ministry of Education will collaborate on regulatory updates and financial education initiatives to support this strategy.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-12-05•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye has launched a "Center of Payments" website to consolidate information on its payment initiatives. The site covers the FAST System, CBRT Payment Systems, the Digital Turkish Lira, TR QR Code, Open Banking, and the Security Overlay Service, and is available in Turkish only.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-12-05•Ireland•Central Bank of Ireland
The Central Bank of Ireland has initiated a public consultation on implementing its new responsibilities under the Access to Cash legislation. The consultation addresses procedures for identifying local deficiencies in cash infrastructure and proposes guidelines for ATM service standards, including notification requirements and operational criteria. Feedback is sought on these proposals ahead of regulations set for 2026.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-12-05•Panama•Panama Superintendencia del Mercado de Valores
Panama’s Superintendency of the Securities Market (SMV) issued a public warning against Profit Team Pty, identifying it as a non-authorised entity.
SupervisionAlertsLicence withdrawal
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2025-12-05•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia adopted its 2026 Work Programme, detailing 179 activities to meet its statutory mandate and Strategic Plan 2025–2027. Key priorities include modernizing monetary instruments, enhancing risk monitoring, and upgrading payment infrastructure for SEPA compliance and instant payments. The revised framework maintains central bank bills as the main monetary policy instrument, with a reduced maturity of seven days and market-based auction principles, while abolishing the seven-day standing deposit facility.
Monetary policyMonetary policy framework & strategy
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2025-12-05•United States•National Credit Union Administration
The National Credit Union Administration reported third quarter 2025 data showing growth in assets, loans, and insured shares at federally insured credit unions, with a net worth ratio increase to 11.24%. Total assets rose by USD 86 billion to USD 2.40 trillion, and loans increased by USD 72.3 billion to USD 1.70 trillion. Insured shares and deposits grew by USD 76 billion to USD 1.84 trillion, while net income reached USD 19.1 billion, up 21%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-12-05•China•Central Bank of the Republic of China
The People's Bank of China and the Monetary Authority of Macao have renewed and upgraded their bilateral currency swap agreement into a standing swap arrangement with an open-ended term, increasing the swap size to CNY 50 billion/MOP 57 billion. This aims to support financial stability, enhance bilateral economic and trade links, and promote the development of Macao’s offshore renminbi market.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-12-05•Europe•European Banking Authority
The European Banking Authority has launched a public consultation on draft Regulatory and Implementing Technical Standards for prudentially material transactions under the Capital Requirements Directive. The proposals clarify supervisory expectations for acquisitions, asset transfers, and mergers, promoting consistent prudential assessment across the EU. The draft standards outline notification requirements, assessment methodologies, and cooperation procedures among supervisory authorities.
Policy & regulationRules & requirementsCapital adequacy
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2025-12-05•Europe•European Banking Authority
The European Banking Authority's follow-up peer review highlights improvements in Member State supervisory practices for authorising payment and electronic money institutions under PSD2 but identifies ongoing disparities in governance and internal controls risking regulatory arbitrage. Covering 2022–2024, the review notes significant variations in application volumes and authorisation timelines, with a median of 9.5 months in the EEA. Despite increased efficiency through clearer guidance and streamlined procedures, the EBA urges further convergence to address persistent delays and divergent supervisory approaches.
SupervisionPeer reviews and country evaluationsLicensing and supervisory fees
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2025-12-05•Ukraine•National Bank of Ukraine
The Council of the National Bank of Ukraine appointed Volodymyr Lepushynskyi as Deputy Governor, effective 8 December 2025. Lepushynskyi, noted for his role in introducing inflation targeting in 2015, will lead the Monetary Stability vertical. As Deputy Governor, he will join the NBU Board, which includes the Governor, First Deputy Governor, and four other Deputy Governors.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-05•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) will unveil its Strategic Plan for 2026-2028, themed “Protect the Present, Finance the Future”, detailing its mission, values, vision, and strategic priorities. The plan is based on a comprehensive assessment of ASF’s internal and external environment and includes input from various stakeholders.
Institutional developmentGovernanceOther
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority secured a confiscation order of GBP 5,963,376.15 against Guy Flintham, linked to a GBP 19 million fraudulent investment scheme affecting over 240 investors. Flintham, serving a six-year sentence, faces an additional two-year term if the order is not satisfied within three months. Confiscated funds will be distributed to victims.
EnforcementSanctions & designationsFraud and scams
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority announced six winning projects in its economic research competition aimed at enhancing understanding of regulation's role in economic growth. Each project will receive up to GBP 30,000 in funding, covering topics such as productivity in UK financial services, fintech sector risks, and the impact of post-crisis regulatory changes on financial stability. The research is expected to be completed by 31 March 2025.
ResearchRegulatory burden
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has initiated criminal proceedings against Kerry Nelson and Jacqueline Stephens for alleged fraud, forgery, and money laundering involving Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited, resulting in £2m in client losses. Ms. Nelson, a director of both firms, faces additional charges related to funds allegedly used for personal expenses. The case, which progressed to charges in 24 months, will proceed to Portsmouth Crown Court on 31 March 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority's review of private market valuation processes found firms generally exhibit good practices but need to enhance governance and control frameworks. Improvements are needed in conflict of interest documentation, valuation independence, and ad hoc valuation approaches during market disruptions. These findings will inform updates to the Alternative Investment Fund Managers Directive and contribute to IOSCO's review of global standards.
SupervisionReviews, inspections & stress testsValuation
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has released its 2025-2030 strategy, focusing on becoming a smarter regulator, supporting economic growth, aiding consumers, and combating financial crime. Key changes include streamlining supervision and authorisations, investing in technology, and integrating the Payment Systems Regulator to advance Open Finance. The FCA aims to enhance efficiency, reduce business burdens, and improve consumer information.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has unveiled its 2025–2030 strategy, including establishing a presence in the United States and Asia-Pacific to enhance cross-border regulatory engagement. Tash Miah will represent the FCA in Washington, DC, focusing on UK–US financial services policy, while Camille Blackburn will lead the new Asia-Pacific office, supporting firms entering the UK market and UK firms expanding in the region. This initiative aligns with the FCA's commitments on exports and inward investment.
Institutional developmentLeadership change & appointmentsCross-border paymentsMarket development
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) seeks input on reforms to the UK's regime for alternative asset managers to streamline the framework and reduce entry barriers while ensuring risk management and consumer protection. The proposals align with the Government's consultation on repealing EU-derived AIFMD requirements, with the FCA considering rulebook replacements and changes to existing rules. The FCA is also exploring bespoke regimes for investment trusts and venture capital firms with the Treasury.
Policy & regulationReform agendas & prioritiesLicensing framework and process
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has issued a consultation to simplify rules on what funds investment firms can count as regulatory capital, without altering the required capital amounts. The initiative aims to replace complex, bank-oriented definitions with clearer rules, reducing legal text by approximately 70%. The FCA anticipates no changes to firms' capital arrangements.
Policy & regulationRules & requirementsCapital adequacy
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) secured confiscation orders totaling GBP 305,284 against Raheel Mirza, Cameron Vickers, and Opeyemi Solaja for an investment fraud, with funds to be returned to investors. The fraud involved cold calling and misrepresenting investments in binary options, affecting 120 victims, with the defendants sentenced to a combined 24.5 years in 2023. The FCA also reported a confiscation order against Reuben Akpojaro, with proceedings adjourned.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-12-05•United Kingdom•Financial Conduct Authority
The UK's Financial Conduct Authority (FCA) proposed revisions to its insurance rulebook to eliminate ineffective or redundant requirements, aiming to simplify compliance while safeguarding smaller customers. Key proposals include a new definition for large commercial insurance customers, a risk-based product value review cycle, and streamlined compliance responsibilities. The package also suggests removing duplicate reporting requirements and revising training mandates.
Policy & regulationRules & requirementsRegulatory burden
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2025-12-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has finalized rules for PISCES, a private stock market for intermittent secondary trading of private company shares. PISCES will operate through a sandbox, with trading expected to start in late 2025, accessible to institutional investors, high-net-worth individuals, sophisticated investors, and company employees. The FCA aims to refine the framework using sandbox insights before establishing a permanent regime by 2030.
Policy & regulationRules & requirementsMarket development