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2025-12-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan and the Association of Financiers of Kazakhstan support a KPMG-hosted online seminar on assessing financed emissions under Scope 3 Category 15 using the PCAF methodology. The seminar will address the role of financed emissions in the financial system, the relevance of Scope 3 Category 15, and practical considerations for financial institutions in Kazakhstan.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-12-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan participated in the "Green Impulse" dialogue in Almaty, focusing on financial sector support for climate objectives and the green economy transition. Supported by UNESCO and other partners, the event addressed climate goals, carbon transformation, and the role of finance and regulation. The Agency emphasized embedding ESG principles in financial markets to mobilize capital for high ESG potential projects.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-12-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reiterated that individuals can repay loans early without penalties, while penalties apply only to legal entities since 31 August 2025. Borrowers can opt for full or partial repayments, with options to adjust loan terms or monthly instalments. Financial institutions may establish internal procedures for early repayment, and borrowers should clarify terms with their banks.
Policy & regulationGuidance & interpretationLiquidity riskPrudential risks
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2025-12-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan participated in a conference on integrating ESG principles into the financial sector. The agency is developing guidance for financial institutions, conducting climate stress tests, and promoting ESG products. It also focuses on digital lending monitoring and advancing gender equality through the WE Finance Code initiative.
Policy & regulationImplementation, projects & pilotsESG
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2025-12-02•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission hosted the "Insure Connect Fair" in Chiang Mai to boost insurance literacy and integration into financial planning. The event featured insurer and local business booths, discussions with industry partners, workshops, and youth-focused activities, contributing to the local economy. Chiang Mai was chosen for its economic significance and reported growth in insurance premiums from THB 18.8bn in 2023 to THB 19.9bn in 2024.
Financial literacy & educationFinancial literacy and education
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2025-12-02•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia issued a press release regarding activities for the Merry Day of Culture at the Bank of Slovenia Museum and Mala Galerija, with details available exclusively in Slovene.
OtherMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-12-02•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) has joined the Euro Area Business Cycle Network (EABCN), enhancing its research capabilities on the euro area business cycle. CBBH Chief Economist Belma Colakovic will serve on the EABCN Management Board, with the bank anticipating benefits for its macroeconomic projections and analysis of cycle spillovers to EU candidate countries.
Institutional developmentCooperation & capacity buildingCross-border cooperation
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2025-12-02•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) attended the 26th National Meeting of the National Federation of Private Pension and Life, with discussions led by Superintendent Alessandro Octaviani and Director Júlia Lins. Key topics included SUSEP’s 2026 regulatory plan, the universal life insurance product under CNSP Resolution No. 484/2025, and strategies to expand access to supplementary pension plans. Broader sessions addressed market development, AI in pension protection, and demographic transitions.
Policy & regulationCooperationOther
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2025-12-02•Iraq•Central Bank of Iraq
The Central Bank of Iraq outlined its banking reform agenda, prioritizing sector reconstruction and partnering with Oliver Wyman for comprehensive reforms to align with international standards. The Governor emphasized maintaining low inflation and exchange rate stability, while noting that the digital Iraqi dinar project is underway but requires further infrastructure development.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-12-02•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed the micro deposit-taking credit organisation "Oxus" to conduct banking operations in national and foreign currency. This follows Oxus's conversion to a limited liability company and is in accordance with relevant national laws.
SupervisionAuthorisations & approvalsLicence approval
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2025-12-02•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan collaborated with SECO and the Swiss Cooperation Office to review the World Bank’s “Strengthening the financial sector in Tajikistan” project (Phase II) and explore further support. Phase II advanced Basel II–III standards, risk-based supervision, climate risk integration, payments infrastructure, and consumer protection. The central bank seeks SECO's help in developing the macroprudential framework, enhancing legal consumer protections, and potentially launching Phase III.
Policy & regulationCooperationMarket developmentFinancial stability and systemic risk
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2025-12-02•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the Agency for State Financial Control and Combating Corruption reviewed the implementation of Tajikistan’s State Anti-Corruption Strategy through 2030. Approved by Presidential Decree No. 222, the strategy focuses on preventing corruption-related offences, with the 2025 action plan already in effect. Discussions emphasized practical prevention mechanisms and the importance of awareness-raising and fostering a legal culture intolerant of corruption.
Policy & regulationCooperationOther
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2025-12-02•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam, with Universiti Islam Sultan Sharif Ali and Bank Islam Brunei Darussalam, hosted the second Brunei Darussalam Islamic Finance Symposium 2025, focusing on digital advancements. The event highlighted global Islamic finance assets of USD 5.98 trillion and Southeast Asia's significant role, with Brunei ranking 13th in the ICD-LSEG Islamic Finance Development Report 2025. A new BDIF website was launched as a hub for industry growth, regulatory updates, and strategic initiatives.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-12-02•Brazil•Brazilian Pension Funds Authority (PREVIC)
At the third regional meeting of the Mixed Parliamentary Front for Strengthening Closed Supplementary Pension Entities in São Paulo, the Brazilian Pension Funds Authority (PREVIC) emphasized sector confidence linked to governance and its risk-based supervisory approach. PREVIC director-superintendent Ricardo Pena highlighted the withdrawal of investments from Banco Master by 12 EFPCs due to strong governance. São Paulo was presented as a key market with significant pension reserves and federal measures supporting sector development.
SupervisionSupervision approach, priorities & toolkit
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2025-12-02•Europe•European Central Bank
The European Central Bank's Occasional Paper assesses ecosystem service degradation's impact on euro area economic activity, price stability, and financial stability, highlighting water-related services as the primary risk channel. It reveals 72% of euro area non-financial corporations are highly dependent on ecosystem services, with significant exposure to water scarcity risks affecting corporate bank lending. The paper urges improved data, modelling, and firm-level disclosures to enhance nature-related stress testing for euro area banks.
ResearchNature-related risk
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2025-12-02•Europe•European Central Bank
The European Central Bank's discussion paper examines euro area insurers' asset allocation and its market impact, noting increased sensitivity from alternative assets and home bias in sovereign bonds. Eurosystem bond purchases lead life insurers to rebalance portfolios, while climate shocks prompt non-life insurers to sell government bonds, affecting yields. The paper suggests advancing the Capital Markets Union to enhance bond diversification and mitigate feedback effects between insurance liquidity needs and sovereign funding.
ResearchAsset qualityMarket development
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2025-12-02•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) has cancelled the financial advice provider licence of Hope Group Limited due to serious conduct issues and material breaches in personal risk insurance advice, including submitting false information and unauthorized policy actions. HGL and its director, Junpu Wang, have been deregistered, with the matter reported to the Police, following client overpayments and improper commission generation.
EnforcementInvestigations & enforcement actionsLicence withdrawal
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2025-12-02•Portugal•Bank of Portugal
The Bank of Portugal reported a EUR 11.2bn decrease in general government debt to EUR 283.1bn in October 2025, primarily due to the redemption of a Treasury bond. Long-term debt securities fell by EUR 11.5bn, while deposit liabilities rose by EUR 0.3bn. Net of deposit assets, public debt increased by EUR 2.8bn to EUR 258.0bn.
Data & statisticsBalance of payments and other external statistics
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2025-12-02•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines, under Governor Eli M. Remolona, Jr., plans to prioritize financial health during the Philippines' ASEAN chairmanship in 2026. At a BIS event, Remolona emphasized enhancing financial health through improved access to financial markets and discussed potential regional initiatives with Queen Máxima.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-12-02•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste released an article outlining its vision for the country's financial future following its accession to the Association of Southeast Asian Nations (ASEAN).
Policy & regulationReform agendas & prioritiesOther
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2025-12-02•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation and blocking of six unauthorized insurance websites by internet service providers in Italy. This action is part of IVASS's ongoing efforts, with 323 sites blocked since November 2023, to combat unauthorized insurance activities. IVASS advises consumers to verify the legitimacy of insurance offers and intermediaries through its official registers.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-12-02•Oman•Oman Financial Services Authority
The Oman Financial Services Authority held its annual meeting with insurance managers to discuss standardizing motor insurance procedures, focusing on fairness and consumer protection. The discussions addressed challenges in claims handling and emphasized the need for clear procedures to enhance service quality and public confidence.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-12-02•Malawi•Reserve Bank of Malawi
The Reserve Bank of Malawi and the Ministry of Industrialization, Trade, Business and Tourism have implemented immediate foreign exchange measures for tourism enterprises under the Foreign Exchange Act, 2025. Businesses dealing with international tourists must be authorised to handle foreign currency and require payments in widely accepted convertible currencies. Firms must display foreign exchange rates, issue receipts, maintain transaction records, and submit monthly returns, with non-compliance subject to penalties.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-12-02•Poland•Ministry of Finance (Poland)
Poland’s General Inspector of Financial Information and Luxembourg Business Registers discussed legal and technological changes related to the EU Anti-Money Laundering Package. The meeting, with input from the Ministry of Justice and the Tax Administration Chamber in Bydgoszcz, addressed challenges in transposing EU rules, data verification, and criteria for accessing beneficial ownership data. Future joint consultations and deeper analysis of register operations were planned.
Policy & regulationCooperationBeneficial ownership
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2025-12-02•Europe•European Central Bank
The European Central Bank released the Eurosystem's disaggregated financial statement as of 31 October 2025, detailing assets and liabilities by national central bank in EUR millions. Key components include gold and foreign currency claims, euro-denominated claims, lending to euro area credit institutions, securities holdings, and intra-Eurosystem positions. Liabilities cover banknotes in circulation, credit institution deposits, revaluation accounts, capital and reserves, with potential negative capital for individual banks due to accumulated losses.
Data & statisticsMonetary data
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2025-12-02•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced a 2026 fees update, increasing most licensee fees by 3.9% in line with inflation, effective 1 January 2026. The update includes reduced fees for Private Investment Funds and Virtual Asset Service Providers, and introduces banded fees for Prescribed Businesses. These changes follow a consultation concluded in October 2025.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-12-02•Albania•Albania Financial Services Authority
Albania Financial Services Authority's Executive Director, Mimoza Kaçi, attended the Brezovica Economic Forum 2025, discussing Albania's non-bank financial market developments and initiatives to enhance access to finance. Emphasis was on expanding financial instruments, financial education for SMEs, and digitalisation. The panel included regional financial leaders and highlighted European Commission support for investment and integration.
Policy & regulationImplementation, projects & pilotsOther
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2025-12-02•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) approved two settlement agreements totaling BRL 3,800,000 and rejected a third proposal worth BRL 21,285,000. Approved settlements include BRL 3,500,000 from IRB - Brasil Resseguros S.A. directors for alleged diligence breaches and BRL 300,000 from Richard Chagas Gerdau Johannpeter for alleged insider trading. The rejected proposal involved alleged fraudulent operations in the capital markets by Entre Investimentos e Participações Ltda. and others.
EnforcementInvestigations & enforcement actions
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2025-12-02•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan conducted a training session for banks and the national postal communications operator on anti-money laundering and counter-terrorist financing. The session addressed internal control programme shortcomings, real estate misuse, suspicious activity typologies, and risks in card transactions and electronic funds transfers. Legislative requirements and practical application were also discussed.
Policy & regulationGuidance & interpretationCapacity building
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2025-12-02•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan, led by Chairman Taleh Kazimov, is visiting the Republic of Korea to enhance bilateral financial cooperation. The delegation will meet with Korea’s financial supervisory authorities to discuss macroeconomic conditions, regulatory improvements, and technological innovations.
Policy & regulationCooperationCross-border cooperation
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2025-12-02•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued an investor warning from November 11 to December 2, 2025, highlighting companies not registered to deal or advise in securities in Ontario. Named entities include Marketsca, Efinanceproltd, Lastclickseo, Bank-bit, Trends Financial Group, TrayDai, Wefunder Inc., and TradeWealth. The OSC advises investors to verify registration through its "Check Before You Invest" and "Crypto businesses" webpages.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-12-02•Paraguay•Central Bank of Paraguay
Paraguay’s Social Security Council has advanced the selection process for the Superintendent of Retirement and Pensions to the interview stage. Seven candidates will be interviewed after no objections were filed against the Stage II admitted list. The next step is to form a merit-ranked shortlist of three candidates for the Executive Branch to appoint.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-12-02•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC announced the DOJ indicted two Fergus, Inc. officers for allegedly soliciting unauthorized investments. Charges include violating the Securities Regulation Code and Financial Products and Services Consumer Protection Act, linked to the Cybercrime Prevention Act, involving unregistered securities sales and fraud. The case follows an investigation prompted by Australian clients' fraud allegations, revealing Fergus's unauthorized investment activities despite its business process outsourcing registration.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-12-02•Russia•Central Bank of Russia
The Central Bank of Russia will extend bank support measures set to expire in 2025, with some continuing in modified form through 31 December 2026. Key extensions include non-disclosure of sanctions-sensitive information, targeted lending flexibility in new territories, and increased maximum yields on certain ruble-denominated instruments. Measures will be incorporated into regulation, such as maintaining borrower risk assessments for servicemen and SMEs, applying reduced risk weights to specific projects, and simplifying SME exposure treatments.
Policy & regulationRules & requirementsRegulatory reporting
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2025-12-02•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji has introduced a new series of polymer banknotes with enhanced security features and new reverse-side designs, set to circulate from 02 January 2026. The redesign, following a comprehensive review, includes a new supplier, Crane Currency, and plans to offset production emissions through a solar project, with current banknotes to be demonetised by 31 December 2026.
Monetary policyOtherCurrency and cash management
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2025-12-02•Vietnam•Vietnam State Securities Commission
Vietnam's Ministry of Finance and the Vietnam State Securities Commission are seeking feedback on a draft circular to amend guidance on securities transaction surveillance and compliance supervision. The draft proposes revisions to Circular 95/2020/TT-BTC and Circular 06/2022/TT-BTC, affecting the Vietnam Stock Exchange and the Vietnam Securities Depository and Clearing Corporation.
Policy & regulationRules & requirementsOther
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2025-12-02•Global•ISDA
The International Swaps and Derivatives Association (ISDA) stressed the need for proportionate, risk-sensitive Basel III capital requirements for trading, highlighting 2026 for jurisdictions finalizing implementation. ISDA noted US regulators' revisions to the Basel III endgame proposal, the European Commission's consultation on the Fundamental Review of the Trading Book (FRTB), and the UK's Basel 3.1 timeline, while recommending recalibrations to internal models and extending its Capital Models Benchmarking initiative.
Policy & regulationReform agendas & prioritiesCapital adequacyPrudential risks
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2025-12-02•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services announced the INVEST Act, a bipartisan package consolidating over 20 bills to support capital formation, investor access, and small business financing. Unveiled by Committee Chairman French Hill and key representatives, it includes Rep. Josh Gottheimer’s Senior Security Act to protect seniors from financial scams. The House of Representatives is expected to consider the package next week.
Policy & regulationRules & requirementsOther
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2025-12-02•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee held a hearing on prudential regulators, with Chairman French Hill emphasizing financial stability and tailored regulations to reduce duplicative burdens. Hill criticized the focus on climate and diversity initiatives, citing the Silicon Valley Bank failure as supervisory oversight, and highlighted efforts to reverse Biden-era regulations. He also addressed work on digital asset market structure, streamlined supervision, and merger review timelines.
OtherPrudential risksFinancial stability and systemic risk
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2025-12-02•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services held an oversight hearing on regulatory alignment by the Federal Reserve, FDIC, Office of the Comptroller of the Currency, and National Credit Union Administration. Key topics included prudential standards, community bank thresholds, and Bank Secrecy Act modernization. FDIC Acting Chairman Travis Hill discussed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, noting a proposed rule on stablecoin-issuing subsidiaries by December 2025.
Policy & regulationRules & requirementsPrudential risksRegulatory burden
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2025-12-02•Ecuador•Central Bank of Ecuador
The Financial and Monetary Policy and Regulation Board of Ecuador accepted Guillermo Avellán Solines's resignation as General Manager of the Central Bank, appointing Deputy General Manager Jorge Ponce Donoso as acting General Manager. Avellán's tenure included minting national fractional coinage and launching new economic statistics products. The Board is selecting a new permanent General Manager per Article 50 of the Monetary and Financial Organic Code.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-02•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 70,537.50 penalty on 2294235 Ontario Inc., operating as Global Currency Exchange, for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate compliance policies, risk assessments, training programs, and record-keeping.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-12-02•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic suspended the licence of OsOO Milan obmen for non-compliance with Kyrgyz legislation and National Bank regulations. Additionally, 11 individuals were fined KGS 17,500 each for conducting unlicensed cash foreign currency exchanges in Bishkek.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-12-02•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has initiated a public consultation on a draft Board resolution to amend regulatory acts related to countering the financing of criminal activity and money laundering, focusing on payment system rules. The proposal seeks to align with Financial Action Task Force standards and recent amendments to the Kyrgyz Republic’s AML/CFT law.
Policy & regulationRules & requirementsAML and CFT
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2025-12-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has asked the public prosecutor to file a civil lawsuit against Miss Pichaya Krimwongrat for PRINC share price manipulation, seeking maximum statutory civil sanctions. This follows her refusal to comply with previously imposed sanctions, unlike five other offenders. The SEC also reported the case to the Anti-Money Laundering Office, as unfair securities trading is a predicate offense under the Anti-Money Laundering Act.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-12-02•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association's Q3 2025 report highlights a 4.1% increase in net assets of UCITS and AIFs to EUR 24.52 trillion, with net inflows reaching EUR 275 billion, driven by record bond fund sales. UCITS saw EUR 252 billion in net inflows, while AIFs experienced EUR 23 billion in outflows. Article 9 funds faced EUR 7.2 billion in outflows, contrasting with positive inflows for long-term Article 8 funds, especially in bond funds.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-12-02•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka updated guidelines for Mobile Banking Units by Licensed Commercial Banks, detailing when prior regulatory approval is necessary. Approval isn't needed for non-cash activities like accepting loan applications, conducting promotions, onboarding to digital channels, or offering advisory services. For other activities, banks must apply to the Director of Bank Supervision 10 working days in advance.
Policy & regulationRules & requirementsLicensing framework and process
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2025-12-02•Hungary•National Bank of Hungary
The National Bank of Hungary's Housing Market Report highlights a sharp rise in house prices in 2025, with prices 19% above fundamentals in Q2. Demand surged following the Home Start Programme, with residential property demand up 46% year-on-year in August and transactions up 37% in September, leading to the EU's strongest nominal house price growth. Despite increased demand, supply remains tight, with Budapest seeing a 29.9% price increase in Q3 and new home prices at HUF 1.77 million per square metre.
Data & statistics
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2025-12-02•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria revised cash policies, effective 1 January 2026, removing cumulative cash deposit limits and setting new weekly cash withdrawal caps of NGN 500,000 for individuals and NGN 5 million for corporates, with excess withdrawals incurring fees. ATM withdrawals are capped at NGN 100,000 per day, contributing to a weekly maximum of NGN 500,000. Exemptions apply to government revenue accounts and certain financial institutions, while embassies and aid agencies lose previous exemptions.
Policy & regulationRules & requirementsPayments and payment systems
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2025-12-02•United States•Federal Deposit Insurance Corporation
In testimony to the U.S. House Committee on Financial Services, FDIC Acting Chairman Travis Hill outlined reforms to focus supervision on core financial risks, including raising the continuous examination threshold to USD 30 billion and extending examination cycles for smaller institutions. Key proposals include defining "unsafe or unsound practice," establishing an Office of Supervisory Appeals, and modifying leverage ratios for banks. The FDIC is also preparing to license and supervise payment stablecoin-issuing subsidiaries, planning to propose an application framework by December 2025.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-12-02•United States•U.S. Securities & Exchange Commission
SEC Chairman Paul S. Atkins, in a NYSE speech, prioritized reducing regulatory burdens and enhancing public listings by reforming disclosure rules. He emphasized focusing on financial materiality and tailoring requirements to company size and maturity, noting a 40% decline in U.S. listed companies since the mid-1990s. Atkins also proposed revisiting company size classifications and reforming securities litigation to curb frivolous suits.
Policy & regulationReform agendas & prioritiesMarket development
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2025-12-02•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a regulation on submitting board structure information under the More Women in Boards of Directors Act. From January 1, 2026, corporations must report the identification and sex of all board members. If they exceed the Act's suggested maximum proportion of directors of the same sex, they must provide reasons for non-compliance. The Act phases in maximum proportions, starting at 80% for 2026–2028, decreasing to 70% in 2029, and 60% in 2032.
Policy & regulationRules & requirementsCorporate governance
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2025-12-02•Chile•Chile Financial Market Commission
The Chile Financial Market Commission is consulting on a proposal to tighten procedures for third-party access to debt information in the Consolidated Debt Registry (REDEC). The proposal outlines best practices for financial institutions regarding debtor consent management and aims to enhance supervisory and complaint-handling processes. It also seeks to improve consent reporting, safeguard sensitive information, and formalize the right to revoke authorizations.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-12-02•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency released Comptroller Jonathan V. Gould’s testimony to the U.S. House Committee on Financial Services, detailing a reset of risk tolerance with a focus on material financial risks. Key initiatives include eliminating debanking, enhancing capital standards, and implementing the GENIUS Act.
SupervisionSupervision approach, priorities & toolkitRisk managementSupervision process and methodologies
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2025-12-02•Moldova•Ministry of Finance (Moldova)
Moldova's Ministry of Finance is advancing a draft law to enhance payment account fee transparency, simplify account switching, and ensure access to basic payment services. Developed by the National Commission for Financial Markets, the draft focuses on improving the payment accounts register and aligning with European standards. Key stakeholders, including the State Tax Service and banking sector, are involved in ongoing consultations.
Policy & regulationRules & requirementsPayments and payment systemsConsumer and investor protection
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2025-12-02•Bahamas•Bahamas Securities Commission
The Bahamas Office of the Attorney-General and Ministry of Legal Affairs has issued an implementation note on new nominee transparency obligations aligned with revised FATF Recommendation 24, supported by enhancements to the Beneficial Ownership Secure Search System (BOSSs). Legislative amendments prohibit nominee directors under the Companies (Amendment) Act, 2025, extend parallel provisions to international business companies, and impose new requirements on identification, verification, accuracy and timely accessibility of nominee information under the Register of Beneficial Ownership (Amendment) Act, 2025, ahead of The Bahamas’ CFATF mutual evaluation in October 2026.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-12-02•Romania•National Bank of Romania
The National Bank of Romania reported that foreign exchange reserves reached EUR 65.408 billion as of 30 November 2025, with total international reserves, including gold, at a record EUR 77.419 billion. November saw inflows of EUR 2.544 billion and outflows of EUR 2.483 billion, with gold holdings stable at 103.6 tonnes valued at EUR 12.011 billion.
Data & statisticsBalance of payments and other external statistics
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2025-12-02•Maldives•Ministry of Finance (Maldives)
The Maldives Ministry of Finance outlined fiscal reforms and support measures for SMEs at the Maldives MSME Awards 2025, highlighting a reduction in the fiscal deficit from 9.9% of GDP in 2024 to a projected 5.5% in 2025, and a budget surplus maintained for 40 weeks. Key initiatives include a USD 40 million SME Impact Fund with the Islamic Development Bank Group, repayment of a USD 100 million sovereign bond, and preparations for a Sharia-compliant bond listing.
Policy & regulationReform agendas & prioritiesSME financing
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2025-12-02•Macao•Monetary Authority of Macao
The Monetary Authority of Macao and Macao's Commission Against Corruption held a lecture on corporate governance and integrity for financial institutions, attended by over 300 managers from 70 institutions. The event emphasized proactive integrity building, robust internal controls, and leadership-driven governance systems. Participants were urged to enhance integrity culture and compliance management to bolster governance standards and market credibility.
Policy & regulationGuidance & interpretationCorporate governance
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2025-12-02•India•Securities & Exchange Board of India
The Securities and Exchange Board of India and the Investor Education and Protection Fund Authority will host the fourth "Niveshak Shivir" in Jaipur on December 6, 2025. The event aims to assist shareholders with transferring unpaid dividends, updating KYC and nominations, and resolving pending IEPFA claims. Participants include NSE, BSE, NSDL, CDSL, and several registrar and transfer agents.
Financial literacy & educationFinancial literacy and education
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2025-12-02•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the Bank of the Lao People's Democratic Republic signed a memorandum of understanding for 2026-2030 to enhance central bank collaboration. The agreement includes knowledge sharing, technical assistance, and training in areas such as monetary policy, foreign exchange management, and fintech oversight. It also aims to boost local currency use in bilateral trade and investment, reflecting growing economic ties.
Policy & regulationCooperationCross-border cooperation
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2025-12-02•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the launch of a bilateral Vietnam–China retail payment connection via QR codes, enabling Chinese tourists to make payments in Vietnam. Implemented by Vietnam National Payment Corporation (NAPAS) with UnionPay International, Industrial and Commercial Bank of China, and Vietcombank, the service is ready for rollout. Plans are underway to enable Vietnamese customers to make payments in China by early 2026.
Policy & regulationImplementation, projects & pilotsCross-border cooperationPayments and payment systems
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2025-12-02•Denmark•National Bank of Denmark
The National Bank of Denmark reported Danish insurance companies and pension funds held DKK 5,101 billion in investments at October 2025's end, driven by positive returns from US technology stocks and currency hedges. Equities now make up 53% of total investments, up from 35% in 2018, due to higher returns and a shift from bonds to stocks. The transition from average-rate to market-rate products contributed to this shift, despite a weaker US dollar reducing unhedged exchange-rate returns.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-12-02•Cayman Islands•Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority (CIMA) released a Strix XBRL Overview User Guide to assist regulated entities in preparing and uploading return files to the Strix platform. The guide supports CIMA's integration of XBRL functionality, which automates data entry and reduces errors, enhancing data submission efficiency and analysis. CIMA advises entities to adopt these enhancements in their reporting processes.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-12-02•Moldova•National Bank of Moldova
The National Bank of Moldova received a Silver Award at the Romanian PR Award 2025 for its "A thousand reasons to try MIA" campaign, promoting the MIA instant payments system. MIA facilitates 24/7 immediate transfers between bank accounts in Moldova and has reached 800,000 retail users and over 11,000 business acceptance points. The system supports payments exceeding MDL 100 million monthly and public service payments via EVO and MPay platforms.
Other
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2025-12-01•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia will publish a daily reference value for the US dollar based on transactions by Financial Intermediation Entities to provide a clear market benchmark. The reference buy rate will be the weighted average of EIF-client transactions, while the sell rate will include the maximum exchange rate plus transfer costs. This initiative addresses the recent lack of an official reference, leading to multiple unverified USD quotations.
Policy & regulationImplementation, projects & pilotsForeign exchange policy and markets
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2025-12-01•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's November Business Outlook Survey showed a decline in the composite business activity expectations index to 49.4, below the neutral threshold of 50, due to intensified aerial attacks and rising costs. Sector results varied, with trading companies optimistic, while industry showed the weakest performance. The survey, covering 592 companies, highlighted differing pricing and employment intentions across sectors.
Data & statisticsEconomic data and developments
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2025-12-01•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) imposed a fine of AOA 85,000,000 on Aliança Seguros, S.A. for violations of anti-money laundering, counter-terrorist financing, and proliferation financing regulations. The breaches included inadequate risk assessments, failure to apply due diligence, and insufficient record retention. ARSEG cited specific articles of Law No. 05/20, as amended by Law No. 11/24, in its decision.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-12-01•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of the Republic of Kosovo outlined the bank's strategy to manage climate risks and promote green financing at the Green Business and Industry Summit 2025. Initiatives include integrating climate risk management into the Strategic Plan, joining the Sustainable Banking and Finance Network, and adopting guidelines for green financing and ESG-aligned investments. He emphasized enhanced cooperation for the green transition and highlighted the Western Balkans TIPS Clone instant payments project as a model for regional collaboration.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-12-01•France•France Autorite des marches financiers
The French Financial Markets Authority has appointed Rémi Bouchez as its Ombudsman, effective 1 December 2025, succeeding Marielle Cohen-Branche. Appointed by AMF Chair Marie-Anne Barbat-Layani for a renewable three-year term, the Ombudsman facilitates independent, impartial, and confidential mediation between retail investors and financial intermediaries. Bouchez, an honorary section president at the French Council of State, will be supported by the mediation unit’s legal teams.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-01•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro adopted drafts of three laws to align its financial services with EU standards, including the Digital Operational Resilience Act and amendments to laws on financial conglomerates and collateral arrangements. The 2026 policy document outlines activities to enhance institutional capacity and align processes with EU and Eurosystem frameworks. The Council also designated systemically important credit institutions required to maintain prescribed buffer rates.
Policy & regulationRules & requirementsRegulatory burden
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2025-12-01•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority's twenty-second quarterly electronic magazine features updates on market development, risks of unlicensed securities analysis, and capital markets governance. Highlights include licensing international entities like Goldman Sachs International and BlackRock Advisors, discussions on cyber threats, fintech developments, and the Gulf Smart Investor Competition. It also notes the upcoming replacement of International Accounting Standard 1 with International Financial Reporting Standard 18 in 2027.
Financial literacy & educationOther
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2025-12-01•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General involving alleged crimes by a suspended listed company and related parties, impacting trading in the company's shares. The allegations include violations of Kuwait’s capital markets framework, Companies Law, and Penal Code, involving deceit of shareholders, submission of forged documents, and misleading financial statements affecting share prices on Boursa Kuwait.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-12-01•Israel•Bank of Israel
The Bank of Israel hosted the “Payments in the New Age” conference, where Governor Prof. Amir Yaron emphasized modernizing national payments infrastructure to enhance efficiency and competition. Ofer Golan outlined a five-year strategic plan focusing on regulatory and technological advancements for a secure and efficient payments system, with discussions on topics such as ISO 20022 implementation, cross-border payments, and fintech innovation.
Policy & regulationReform agendas & prioritiesPayments and payment systemsFintech and insurtech
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2025-12-01•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo co-organised a panel at the Brezovica Economic Forum 2025, focusing on diversifying funding sources and advancing European financial integration. Governor Ahmet Ismaili highlighted Kosovo's financial system, equivalent to 157% of GDP, and noted developments like the country's first sovereign credit rating of BB- and progress in SEPA integration. Emphasis was placed on open banking, digital identity, and capital-market infrastructure, including corporate bond issuance and investor protection.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-12-01•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has revised the control checklist for audit firms regarding annual financial reports of listed companies, adding new requirements on crypto-assets. Auditors must now disclose whether issuers hold crypto-assets, including cryptocurrencies and tokens, and provide details on their accounting treatment and associated risks. The updated checklist is accessible on Consob’s website.
Policy & regulationRules & requirementsAuditing
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2025-12-01•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority published Jean-Paul Servais’s closing remarks from an international conference on audit quality. Servais emphasized the importance of a critical mindset and strong ethical standards in audit quality, urging collaboration between regulators and the audit profession to enhance governance and auditor conduct frameworks.
Policy & regulationGuidance & interpretationAuditing
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2025-12-01•Italy•Bank of Italy
The Bank of Italy released Legal Research No. 107, a reflection paper advocating for a Consolidated European Banking Act (EUBA).
ResearchOther
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2025-12-01•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis on operational emergency preparedness in the financial sector emphasizes the need for enhanced resilience against severe disruptions, such as cyberattacks or physical sabotage, to maintain critical payment and money transfer functions. Supported by the Financial Sector Operational Resilience collaboration, the report provides recommendations to bolster financial stability and infrastructure capabilities.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-12-01•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released a report on model risk management by asset managers, highlighting increased error risks from complex models and AI in portfolio decisions. It outlines eight good practices, including clear model responsibilities, a central model inventory, and sufficient in-house expertise. The AFM will continue monitoring and encourages dialogue with supervisors and model providers, especially regarding external models and AI.
Policy & regulationGuidance & interpretationRisk management
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2025-12-01•Latvia•Central Bank of Latvia
The Central Bank of Latvia has approved its Statistical Programme for 2026 and a Medium-Term Statistical Work Programme for 2027–2029, outlining planned statistical collections and publications. Key developments include new reporting requirements for insurers aligned with EU law, publication of pension data, and household interviews for the Household Finance and Consumption Survey. The programmes will be available on the Central Bank's website.
Data & statisticsBalance of payments and other external statistics
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2025-12-01•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported a 13.5% increase in exports to USD 23,438 million in Q3 2025, driven by higher prices for traditional products and increased volumes of non-traditional products, notably in agriculture and fishing. Key contributors included blueberries, avocados, frozen mango, cocoa products, and jumbo flying squid. Exports accounted for 26.6% of GDP on a trailing four-quarter basis, up from 25.4% a year earlier.
Data & statisticsBalance of payments and other external statistics
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2025-12-01•Ireland•Central Bank of Ireland
The Central Bank of Ireland's research reveals low direct retail participation in capital markets among Irish households, who prefer property, life assurance, and pensions. Investment is concentrated among wealthier, educated, and employed individuals, primarily in Dublin. Barriers include lack of resources, trust, and knowledge, with recommendations for financial education and product options to enhance participation.
ResearchConsumer and investor protection
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2025-12-01•Australia•Australian Securities & Investments Commission
ASIC has warned financial advisers to update qualifications on the Financial Advisers Register by 31 December 2025. Failure to meet standards by 1 January 2026 may end authorisation. A spot-check found 2,326 providers non-compliant, with 827 needing courses for tax advice services.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-12-01•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) updated its Internal Dispute Resolution (IDR) data reporting handbook to reflect legislative changes affecting the buy now, pay later and digital asset sectors, and introduced a new category for mutual risk products. Firms must adjust their reporting systems, with the updated handbook applicable for the July to August 2026 submission window. ASIC will amend the relevant legal instrument to implement these changes.
Policy & regulationGuidance & interpretationBNPLComplaints and dispute resolution
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2025-12-01•Australia•Council of Financial Regulators
Australia's Council of Financial Regulators (CFR) released its annual update, highlighting 2025 progress and outlining four focus areas for 2026: geopolitical risks, operational vulnerabilities, systemic liquidity risk, and high household leverage. Initiatives included enhanced coordination on cyber resilience, systemic liquidity stress testing, and monitoring housing and lending standards. The CFR will address broader vulnerabilities, including climate change and digital assets, with oversight by Deputy Chairs and regular progress reports.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskGeopolitical risk
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2025-12-01•North Macedonia•National Bank of the Republic of North Macedonia
Governor Trajko Slaveski of the National Bank of the Republic of North Macedonia visited the Bank of England to enhance cooperation and exchange expertise, focusing on managing North Macedonia's monetary gold reserves. Meetings with Bank of England officials addressed operational procedures for gold storage, security, and access to the London gold market, alongside discussions on monetary policy challenges and financial sector innovation.
Policy & regulationCooperationDomestic cooperation
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2025-12-01•Ukraine•National Bank of Ukraine
The National Bank of Ukraine (NBU) has launched TrekSEP, a tracking service within its System of Electronic Payments (SEP) for 24/7 monitoring of payment transactions. Initially covering account-to-account transfers, TrekSEP uses a Unique End-To-End Transaction Reference (UETR) for detailed tracking. This initiative is part of the NBU's SEP development roadmap for 2025–2030, which includes transitioning to SEP-4 based on ISO 20022 and integrating with SEPA for cross-border transfers.
Policy & regulationRules & requirementsPayments and payment systems
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2025-12-01•Belgium•National Bank of Belgium
The National Bank of Belgium has redesignated eight domestic systemically important institutions and maintained their existing additional capital buffers. Five institutions remain subject to a 1.5% buffer and three to a 0.75% buffer, reflecting the potential impact of their failure on the financial system and real economy.
SupervisionRisk monitoring & watch pointsCapital adequacyFinancial stability and systemic riskMacroprudential policy and tools
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2025-12-01•Belgium•National Bank of Belgium
Hans Dewachter will become head of the National Bank of Belgium’s Economics and Research Department at the beginning of 2026, succeeding Xavier Debrun.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-01•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier will launch its 2025 AML/CFT questionnaire on 23 February 2026, with submissions due by 3 April 2026 via the CSSF eDesk platform. It aims to collect standardized data on money laundering and terrorism financing risks and mitigation measures. Additionally, an ad hoc questionnaire will be launched in the first half of 2026 to aid in selecting entities for direct supervision by the European Anti-Money Laundering Authority starting 1 January 2028.
SupervisionRegulatory reporting
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2025-12-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Bulletin 41 of 2025, certifying December's per-gram prices for gold, silver, and platinum for mineral exploitation revenue settlements. The bulletin notes that the LBMA Gold and Silver Prices, published by Intercontinental Exchange Benchmark Administration, are used in royalty calculations, with related trademark licensing and disclaimers included.
Data & statisticsFinancial benchmarks
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2025-12-01•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy and Public Finance appointed Gustavo Blacutt Alcalá as Vice Minister of Pensions and Financial Services and Zoila Tania Olmos Tejada as Executive Manager of the Administration of Port Services – Bolivia. Blacutt's mandate includes promoting fintech, expanding financial inclusion, and enhancing supervision in line with Basel standards, while Olmos is tasked with digitising port processes and optimising tariffs to cut logistics costs.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-01•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy and Public Finance appointed Gustavo Blacutt Alcalá as Vice Minister of Pensions and Financial Services and Zoila Tania Olmos Tejada as Executive Manager of the Port Services Administration, both tasked with modernization agendas. Blacutt will focus on fintech, digital payments, financial inclusion, and Basel-aligned supervision, while Olmos Tejada will digitize port processes, optimize tariffs, and enhance private sector collaboration. These appointments aim to modernize public institutions, boost competitiveness, and enhance transparency.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-12-01•New Zealand•Ministry of Business, Innovation and Employment (New Zealand)
New Zealand's Ministry of Business, Innovation and Employment (MBIE) has enacted regulations under the Customer and Product Data Act 2025, requiring ANZ, ASB, BNZ, and Westpac to implement open banking systems. This aims to enhance innovation and competition. Data sharing needs explicit customer consent and is limited to MBIE-accredited businesses. Kiwibank must comply by mid-2026 for payment services and by the end of 2026 for other services.
Policy & regulationRules & requirementsOpen banking and finance
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2025-12-01•Sweden•Riksbank
Riksbank Governor Erik Thedéen emphasized the importance of central bank independence for economic stability, noting it must be earned and is not absolute. He highlighted that central banks' remits are set by elected officials and should not expand without political support. Thedéen also stressed the need for transparency and external scrutiny to maintain democratic accountability.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-12-01•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance reported that Minister Kyriakos Pierrakakis met with Ireland’s Deputy Prime Minister Simon Harris in Dublin to reaffirm bilateral ties and cooperation on European priorities. Discussions included preparations for their EU presidencies, the Savings and Investment Union, the digital euro, and integrating the Athens Stock Exchange into Euronext. Pierrakakis also outlined Greece’s digital reform programme, emphasizing its role in reducing bureaucracy and enhancing the investment environment.
Policy & regulationCooperationCross-border cooperation
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2025-12-01•Greece•Ministry of National Economy and Finance (Greece)
Greece's Minister of National Economy and Finance, Kyriakos Pierrakakis, emphasized Europe's need for a unified digital economy to foster technology champions, citing Greece's digital reforms as a model. He advocated for smart regulation of digital money and stablecoins, highlighting the dominance of US dollar-denominated stablecoins and the potential of the digital euro. Pierrakakis also noted Greece's economic recovery, with a projected debt-to-GDP ratio decrease and significant tax cuts.
Policy & regulationReform agendas & prioritiesOther
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2025-12-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert following reports from Chiyu Banking Corporation Limited about fraudulent websites and fake internet banking login screens. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-12-01•Global•International Organisation of Pension Supervisors
The International Organisation of Pension Supervisors released a working paper on its 2024 survey of pension funds' infrastructure and ESG investments, highlighting challenges in data acquisition, valuation, and ESG integration. Issues include lack of granular data, weak regulatory frameworks, and fragmented valuation methodologies, with recommendations for standardised reporting, harmonised valuation guidelines, and enhanced governance. The report also calls for improved ESG taxonomies and consistent sustainability reporting aligned with international standards.
Policy & regulationGuidance & interpretation