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2025-11-24•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Madd Balas Company to offer debt-based crowdfunding solutions, raising the total number of SAMA-licensed providers to 14 and finance companies to 69. This decision aligns with SAMA's goals to enhance the finance sector's efficiency and promote innovative financial solutions for inclusion. SAMA emphasized the importance of engaging with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-24•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority hosted an "Intergenerational Dialogue on Finance" panel for students, as part of a project to enhance financial literacy among youth. The event featured discussions on capital markets, investing basics, and fintech influences, with participation from finance professionals. The Authority plans to continue such initiatives to support financial education for young people in Montenegro.
Financial literacy & educationFinancial literacy and education
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2025-11-24•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority released its September 2025 Statistical Digest, detailing MPF membership, accounts, total assets, and investment performance. Total MPF assets reached HKD 1,530 billion, with equity and mixed assets funds showing average annualised net returns of 5.1% and 4.5% respectively, against a 1.8% inflation rate since 2000. Default Investment Strategy assets amounted to HKD 160.9 billion, and Tax-deductible Voluntary Contributions accounts increased by 14% year on year.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-24•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has granted Al-Tijari Financial Brokerage Company a licence to operate as a qualified securities broker registered with the Securities Exchange, effective 23 November 2025. This authorization, under Resolution No. (115) of 2025, amends the company's existing licence to include the new activity.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-24•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) trained the Superintendence of Electricity staff on affiliates’ rights within the Dominican Pension System. This session began the Superintendence's process to earn SIPEN’s “Here We Know About Pensions” seal, awarded to institutions training over 70% of their workforce on social security topics. SIPEN also advised affiliates to contact their pension fund administrators for free legal support.
Policy & regulationImplementation, projects & pilotsCapacity building
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2025-11-24•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced the conviction of two directors of Sheffield Insurance Pty Ltd for failing to lodge financial statements and auditors’ reports for five years. Phillip Bird and Daniel Holmes pleaded guilty and were fined AUD 15,000 each, plus court costs. The case, prosecuted by the Commonwealth Director of Public Prosecutions, underscores ASIC's enforcement priority on reporting misconduct.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-11-24•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled Ivy League Capital Pty Ltd's financial services licence for failing to lodge audited reports and maintain Australian Financial Complaints Authority membership. Effective 17 November 2025, this affects the firm's ability to deal in and advise on financial products and provide custodial services. Ivy League Capital may seek a review by the Administrative Review Tribunal.
EnforcementInvestigations & enforcement actionsAuditing
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2025-11-24•Botswana•Bank of Botswana
The Bank of Botswana clarified licensing requirements under the Banking Act, 2023, categorizing banks into Tier 1 and Tier 2 based on initial capital requirements to support smaller banks. Only companies incorporated under the Companies Act may apply, involving pre-application meetings and publication steps. Minimum capital requirements are BWP 20 million for Tier 1 banks and BWP 5 million for Tier 2 banks, with specific fees for applications and annual licenses.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-11-24•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) reported a 13.5% increase in quarterly net income for FDIC-insured institutions, reaching USD 79.3 billion, driven by strong net interest income and reduced provision expenses. Despite favorable asset quality measures, certain portfolios showed ongoing weaknesses, while unrealized securities losses decreased but remained high.
Data & statisticsActivity and performance reporting
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2025-11-24•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets issued guidance on embedded insurance, detailing legal requirements and recommendations for insurers, intermediaries, and platforms to protect customer interests. It addresses risks like overinsurance and underinsurance, covering licensing, product development, information disclosure, and ongoing service expectations. The AFM highlights the growing prevalence of embedded insurance in physical and online sales, noting potential differences from traditional insurance products.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-11-24•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) announced a joint programme with Queen Maxima and other ministries to enhance financial health initiatives, consumer protection, and cooperation on fraud and scams. OJK Executive Head Friderica Widyasari Dewi emphasized the alignment with OJK's priorities on financial literacy and inclusion. Queen Maxima's visit includes discussions and meetings focused on these themes.
Policy & regulationCooperationFinancial literacy and education
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2025-11-24•Ireland•Department of Finance (Ireland)
Ireland’s Department of Finance will activate the Finance (Provision of Access to Cash Infrastructure) Act 2025 on 28 November 2025, establishing access-to-cash standards and a designated-entity regime. The Section 5 order sets criteria for ATM and cash service point accessibility across eight NUTS3 regions, while the Section 10 order defines thresholds for designated entities, with Allied Irish Bank, Bank of Ireland, and Permanent TSB meeting these criteria. The Central Bank of Ireland will oversee compliance quarterly and can direct entities to address issues.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-24•Norway•Department of Finance (Norway)
Norway's Ministry of Finance is consulting on proposed amendments to the Real Estate Brokerage Regulations, including a minimum bid acceptance deadline of 30 minutes and maintaining the ban on early bid deadlines. The proposal also suggests increasing mandatory security cover for real estate brokerage firms and lawyers from NOK 45 million to NOK 100 million, and raising the minimum transaction limit per claimant from NOK 15 million to NOK 25 million.
Policy & regulationRules & requirementsOther
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2025-11-24•T?rkiye•Capital Markets Board of Türkiye
The Capital Markets Board of Türkiye attended the IOSCO Growth and Emerging Markets Committee meetings in Malta, discussing financial inclusion, sustainability, and fintech. The Board contributed to panels on fintech, cyber resilience, and International Sustainability Standards Board standards. At the IOSCO European Regional Committee meeting, discussions focused on retail investors' online safety and regulatory innovation, including AI, tokenisation, and crypto-assets.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-24•United States•National Futures Association
The National Futures Association (NFA) has permanently barred former commodity pool operator Rimar Capital Limited Partnership from reapplying for membership or serving as a principal of an NFA Member. Ryan Philip Gordon, a former associated person and principal, is barred from reapplying for two years and must pay a USD 75,000 fine if he seeks membership or principal status thereafter. This follows a Complaint alleging violations of NFA Compliance Rule 2-4 and Registration Rule 208, confirmed by the Hearing Panel.
EnforcementInvestigations & enforcement actionsOther
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2025-11-24•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency set the 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac at USD 88 billion each, totaling USD 176 billion. At least 50% of each Enterprise's multifamily business must focus on mission-driven affordable housing. Workforce housing loans are excluded from the caps, and the FHFA may adjust the caps to support market liquidity if necessary.
Policy & regulationRules & requirementsOther
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2025-11-24•Ghana•Securities and Exchange Commission Ghana
The Securities and Exchange Commission Ghana warned of a rise in fraudulent "money doubling" schemes advertised on 33 TV channels. The SEC confirmed it hasn't approved these schemes and cautioned against investing in unlicensed products. Promoters are reminded that advertising securities-related products without a licence is a criminal offence under the Securities Industry Act and the Companies Act.
SupervisionAlertsFraud and scams
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2025-11-24•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) is extending its collaboration with Fintech Cadence to support fintech founders in Ontario through regulation-focused initiatives. FSRA will engage startups in the Ascension accelerator program, offering a Masterclass on regulatory considerations and introducing an Innovation Stream to connect companies with experts. The initiative aims to facilitate product and business development via FSRA’s Test and Learn Environment.
SupervisionInnovation & testingFintech and insurtech
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2025-11-24•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported on Minister Kyriakos Pierrakakis’s meeting with Germany’s Vice Chancellor Lars Klingbeil, focusing on strengthening bilateral economic ties and EU financial integration. Discussions included advancing the Savings and Investments Union to unlock European capital and support mergers and partnerships. The ministers agreed to enhance cooperation in infrastructure, energy, technology, and digital transition, with Pierrakakis inviting Klingbeil to Greece for further talks.
Policy & regulationCooperationCross-border cooperation
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2025-11-24•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has amended its regulatory sandbox rules to enhance access for fintechs, startups, and technology ventures, promoting innovation and financial inclusion. Resolution SBS No. 04142-2025 expands eligibility to savings and credit cooperatives and AFOCAT, with participation limited to 30 months. New entry routes are available through SBS-led calls and firm-initiated requests, allowing trials of products or services not covered by the existing framework.
Policy & regulationRules & requirementsFintech and insurtechFinancial inclusion
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2025-11-24•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding Blackridge Partners Ltd, stating it is not authorised under the Banking Ordinance to conduct banking business or take deposits in Hong Kong. The entity also lacks approval to establish a local representative office. The HKMA advises the public to verify the status of organisations offering banking services online before engaging with them.
SupervisionAlertsLicence approval
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2025-11-24•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding phishing scams involving fraudulent websites and messages impersonating Bank of China (Hong Kong) Limited. The HKMA emphasized that banks will not send messages with 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’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-11-24•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced the dissolution and liquidation of the investment compartment HANSEATIC Shipping Fund I of Hanseatic Shipping AIF V.C.I.C. PLC, following the expiration of its operational period under Article 63(1)(b) of the Alternative Investment Funds Law of 2018. The dissolution was reported by the AIF's external manager, Hanseatic Capital Management Ltd, in accordance with Article 52(6). The compartment is undergoing voluntary liquidation, with licence number AIF27/2014.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-11-24•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced the dissolution and liquidation of five investment compartments of the AIF LifeGoals Common Fund AIF. The LifeGoals - Fixed Income Savings compartment is being dissolved due to a decision by the external manager, while the remaining compartments are being dissolved following full redemption of their units. The liquidations are voluntary and communicated to CySEC by the external manager.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-11-24•Cyprus•Cyprus Securities and Exchange Commission
MFO Asset Management Ltd has begun the dissolution and liquidation of the THOLOS EQUITY investment compartment of MFO II RAIF V.C.I.C. PLC, notifying the Cyprus Securities and Exchange Commission (CySEC) under Article 138(7)(a) of the Alternative Investment Funds Law 2018. The compartment will remain registered and marked "under liquidation" on CySEC’s website until the process is finalized and all required documents are submitted.
SupervisionAuthorisations & approvalsOther
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2025-11-24•Global•Ceres
Ceres CEO Mindy Lubber supported Massachusetts legislation to create a climate bank for financing climate projects. She emphasized leveraging private capital for energy transition and noted the success of 40 U.S. climate banks, which invested USD 10.6 billion in 2023. Lubber recommended prioritizing environmental justice, rural, and coastal communities for lending.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-11-24•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland's research reveals that US college graduates aged 22 to 27 no longer secure jobs significantly faster than non-degree holders, diminishing a key early-career advantage. This trend, linked to "education-neutral" labor demand growth and increased college attainment, contrasts with the strong job-finding rates of the 1990s. Despite this, college graduates still enjoy higher pay and job security.
ResearchOther
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2025-11-24•Middle East•Union of Arab Securities Authorities
The Union of Arab Securities Authorities participated in the IOSCO Growth and Emerging Markets Committee annual meetings in Malta, focusing on emerging-market opportunities, capital-market development, and regulatory innovation, including discussions on crypto-assets and artificial intelligence.
Policy & regulationCooperation
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2025-11-24•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission conducted a Road Show in Nakhon Ratchasima to enhance insurance knowledge and awareness of fraud among students, SMEs, and the public. The programme covered insurance principles, policyholder rights, and fraud prevention, using interactive tools like games and quizzes. It also detailed the OIC's complaint and dispute resolution channels.
Financial literacy & educationFinancial literacy and education
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2025-11-24•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defence of Users of Financial Services reported 3,589 complaints in Chiapas from January to September 2025, a 21.4% increase from 2024, with MXN 127.2 million claimed and MXN 13.2 million recovered. Debit cards, credit reports, and credit cards were the main sources of complaints, driven by unrecognised transactions and aggressive debt-collection practices. Multiple banking accounted for 46.0% of complaints, with significant concerns over fraud and issues affecting older adults.
Data & statisticsComplaints and dispute resolution
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2025-11-24•South Africa•South Africa Financial Sector Conduct Authority
South Africa's Financial Sector Conduct Authority and Prudential Authority released their first report on AI in the financial sector, noting increased adoption in banks and payment providers. The report highlights benefits in data analytics and cybersecurity, alongside risks like data privacy and systemic vulnerabilities, with regulatory uncertainty and skills shortages hindering broader use. Recommendations include enhancing governance, improving AI explainability, and aligning with the Protection of Personal Information Act.
ResearchArtificial intelligence
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2025-11-24•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) warned about scams involving impersonation of the FSCA, authorised Financial Services Providers, and public figures to defraud the public, often via social media. Notable cases include a false FSCA "Chief Executive Investigator" and unauthorised schemes linked to Brokstock SA, Cloudtrade247, and others. The FSCA advises consumers to be cautious of unrealistic returns, upfront fees, and to verify authorisation through official FSCA channels.
SupervisionAlertsFraud and scams
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2025-11-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reviewed the National Financial Inclusion Strategy's progress, focusing on expanding banking access through infrastructure, remote identification, and interoperability enhancements. Key metrics showed significant growth, with 16 million bank accounts and 16.7 million electronic wallets opened. The Coordinating Council reported 76% of action items completed and emphasized ongoing efforts to improve financial service access.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-11-24•Global•Bank for International Settlements - Financial Stability Institute
The Bank for International Settlements’ Financial Stability Institute has published an FSI Brief reassessing the post-Great Financial Crisis bank capital framework, finding that while resilience has improved, the capital stack is overly complex and some elements provide limited loss absorbency. It proposes a redesign that adds a cycle-neutral adjustable component to the countercyclical capital buffer, removes the capital conservation buffer, sets a single Common Equity Tier 1 minimum, and replaces total capital and total loss-absorbing capacity layers with a loss-absorbing capacity requirement met fully with eligible junior debt, with resolution triggered only by breaches of the Common Equity Tier 1 minimum.
Policy & regulationInternational standards & recommendationsCapital adequacy
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2025-11-24•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) issued Ordinance No. 1,070/2025, updating its internal affairs framework to enhance investigations and disciplinary processes. It introduces an annual Corregedoria Management Report, evaluation parameters like the Index of Performance and Execution of Corregedoria Activity (Idecor), and new procedures for faster investigations and consensual resolutions. It also authorizes the use of the Office of the Comptroller General's sanctions calculator and remote hearings, prioritizing cases involving harassment.
Policy & regulationRules & requirements
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2025-11-24•South Africa•South African Reserve Bank
The Financial Sector Conduct Authority and Prudential Authority released their first report on AI adoption in South Africa's financial sector, noting increased use among banks and payment providers. It emphasizes improved data governance, model risk management, and disclosure practices, and calls for collaboration with the Information Regulator to align with the Protection of Personal Information Act and develop sector-wide guidance for ethical AI use.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-11-24•United States•New York State Department of Financial Services
The New York State Department of Financial Services announced legislation signed by Governor Kathy Hochul eliminating patient cost-sharing for asthma inhalers under state-regulated health insurance plans. The law mandates coverage for at least one rescue and one maintenance inhaler without deductibles or co-pays. This follows a 2024 law removing insulin cost-sharing, projected to save USD 14 million in 2025.
Policy & regulationRules & requirementsOther
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2025-11-24•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) reported a 21.2% increase in total life premiums to EUR 110.5bn in 2024, driven by growth in branch I and branch III premiums. Branch I recorded a positive net result of EUR 5.7bn, while branch III posted a loss of EUR 1.6bn due to high surrenders. By September 2025, insurers offered 529 insurance-based investment products, shifting towards defined-maturity products and new offerings linked to multiple segregated funds.
Data & statisticsActivity and performance reporting
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2025-11-24•Serbia•National Bank of Serbia
Governor Jorgovanka Tabakovic of the National Bank of Serbia attended the Executive Forum on Gold Reserve Management, emphasizing Serbia's strategic gold reserve increase before the 2022 demand surge, now over 50 tons. Organized by the World Gold Council and the Bank for International Settlements, the forum included central bank representatives and experts from over 40 countries. Her participation highlights Serbia's cooperation with the Bank for International Settlements on international-market gold purchases.
Monetary policyOther
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2025-11-24•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission announced that the Korea Financial Intelligence Unit (KoFIU) is enhancing anti-money laundering (AML) measures against transborder crimes targeting domestic citizens. KoFIU will work with financial companies to analyze suspicious transaction typologies and expects comprehensive reporting. It plans to tighten internal controls, prioritize on-site inspections in Southeast Asia, and strengthen international cooperation to improve AML responses.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-11-24•Europe•European Central Bank
European Central Bank President Christine Lagarde stressed the urgency for Europe to accelerate AI adoption to avoid lagging, citing high energy costs and fragmented regulation as obstacles. She noted AI could boost productivity, with annual growth potentially increasing by up to 1.3 percentage points. Lagarde advocated for a European strategy on data connectivity, reducing strategic dependencies, and enhancing foundational capacities like chips and data centers.
Policy & regulationReform agendas & prioritiesArtificial intelligence
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2025-11-24•Europe•European Central Bank
The European Central Bank plans to modernize central bank money with a digital euro, new wholesale transaction technologies, and cross-border interlinking. Initiatives include developing digital euro capacity, exploring distributed ledger technology and tokenization for wholesale markets, and enhancing cross-border payments through the Eurosystem’s instant payments service. Milestones include linking DLT platforms by Q3 2026, a digital euro pilot by mid-2027, and potential issuance readiness by 2029.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-11-24•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission announced the Financial Stability Coordination Council's (FSCC) 2026 priorities, focusing on mapping corporate linkages and developing a coordinated response protocol for systemic disruptions. The FSCC highlighted banking-sector resilience with strong capital and liquidity, while noting risks from the housing market and leverage. Efforts are also underway to standardize bond pricing and enhance open market operations.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMacroprudential policy and tools
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2025-11-24•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a notice correcting the UK sanctions list entry for Andrei Valerevich Kozlov, who remains sanctioned under the UK Cyber (Sanctions) (EU Exit) Regulations 2020. Businesses must freeze relevant assets, report to the States of Guernsey Policy & Resources Committee, and comply with the Sanctions (Bailiwick of Guernsey) Law, 2018. Firms must also notify the Commission and provide a report under Handbook Rule 12.37 when identifying affected relationships.
Policy & regulationGuidance & interpretationSanctions list update
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2025-11-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released a technical note summarizing a survey on sustainability-related reporting under CVM Resolution 193, focusing on CBPS 01 (IFRS S1) and CBPS 02 (IFRS S2). The survey, with 291 responses from various stakeholders, highlighted benefits like increased transparency and improved climate risk management. CVM will evaluate the findings to guide potential regulatory actions or market guidance, with voluntary reporting allowed for financial years starting on or after 1 January 2025.
Policy & regulationGuidance & interpretationESG
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2025-11-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has suspended the issuer registration of SUGOI S.A. due to over a year of non-compliance with information obligations under CVM Resolution 80. During the suspension, SUGOI S.A. cannot have its securities traded on regulated markets. The suspension does not absolve the company, its controlling shareholders, or officers from accountability for previous violations.
SupervisionInterventionsDisclosures
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2025-11-24•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning that Finandy Limited, operating the website finandy.com, is not authorised under the Virtual Asset Service Providers Act 2024. Although incorporated in Seychelles, Finandy Limited lacks the necessary licence to offer virtual asset services. The authority advises consumers to verify the licensing of virtual asset service providers and report any suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-24•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) has issued a scam alert regarding the website https://propx.pro, falsely claiming to be regulated by the FSA under licence number SD132. The FSA clarified that PropXPro Global Ltd is not licensed or regulated by them and urged the public to verify entities before engaging in business.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-11-24•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission (SEC) was recognized as the country's "Paper-less Champion" by the Development Academy of the Philippines for saving nearly 217 million pages through its online platforms. The SEC's Electronic Filing and Submission Tool (eFAST) and SEC Zuper Easy Registration Online (SEC ZERO) have significantly reduced paper use and costs, processing over 577,000 report submissions and nearly 7,000 applications. The SEC plans to continue enhancing its systems to improve services and sustainability.
Policy & regulationImplementation, projects & pilotsOperational excellence
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2025-11-24•Russia•Central Bank of Russia
The Central Bank of Russia reported a 13% year-on-year increase in cashless transactions for goods and services in Q3 2025, averaging 243 million payments per day. Non-card instruments, such as biometric payments and QR codes, rose to 14% of all purchases, up 4.5 percentage points from the previous year. Additionally, banks expanded payment acceptance infrastructure by adding over 500,000 terminals in retail outlets across Russia.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-24•Russia•Central Bank of Russia
The Central Bank of Russia released a report proposing standardised disclosure practices for public issuers to enhance annual report attractiveness and investor relevance. Key changes include formal requirements for report structure and content, corporate governance and sustainable development disclosures, and digitalisation of corporate reporting to reduce preparation costs. The initiative aims to streamline periodic publications and shorten reporting deadlines.
Policy & regulationRules & requirementsRegulatory reporting
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2025-11-24•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals on a specified list to pay a VND 1,000,000 fee to obtain a securities practising certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission's offices. Failure to complete the procedure within one year will result in certificate cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-11-24•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) released slides from roundtables with 21 firms on AI and ML adoption in model risk management per Supervisory Statement 1/23. Key themes include boards defining model risk appetite, governance linked to model lifecycle, and addressing inconsistencies in model tiering and inventory submissions. The PRA plans ongoing engagement through roundtables and the Artificial Intelligence Consortium, with upcoming research on explainability methods.
Policy & regulationGuidance & interpretation
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2025-11-24•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) released insurer-specific results for the Life Insurance Stress Test 2025 (LIST 2025) under the Solvency UK regime. The results detail projected movements in Solvency Capital Requirement (SCR) coverage and eligible own funds for 11 UK insurers, highlighting variations based on business mix, risk profile, and management actions. SCR coverage ratios at the end of the core scenario ranged from 112% to 213%, with no capital distributions or business changes in 2025 included.
SupervisionReviews, inspections & stress testsStress testing
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2025-11-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic suspended the licence of Dimayk exchange bureau for regulatory breaches and fined an individual KGS 17,500 for unlicensed foreign currency exchange operations in Bishkek. The suspension of licence No. 6524 is effective from 22 November to 6 December 2025.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-11-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic’s Batken regional office conducted an outreach seminar for presidential staff in Batken Oblast on 21 November 2025. Topics included the history of the national currency, personal financial management, QR code payment expansion, credit restrictions in the “Tunduk” app, and basic cybersecurity measures.
Financial literacy & educationFinancial literacy and education
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2025-11-24•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission has revoked the approval of Pi Advisory Co., Ltd. and Mr. Sumritchai Thangharat for 10 years due to serious misconduct and due diligence failures related to an IPO application. The SEC identified dishonest intent in concealing material facts, gross negligence in due diligence, and inadequate internal controls. The revocations are effective from 21 November 2025, with no future applications considered until the period concludes.
EnforcementSanctions & designationsCorporate governance
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2025-11-24•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has directed digital asset operators dealing with Worldcoin (WLD) to prioritize client interests and ensure clear communication, including trading alerts. This follows a directive from the Office of the Personal Data Protection Committee to halt iris data collection and destroy existing data. The SEC also cautioned investors to use licensed operators to avoid legal risks and potential scams.
Policy & regulationGuidance & interpretationConsumer and investor protectionSupervision process and methodologies
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2025-11-24•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved the prospectus for Les Eaux Minérales d’Oulmès for a bond issuance redeemable in shares.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-24•Europe•European Banking Federation
The European Banking Federation (EBF) responded to the European Commission’s consultation on boosting lending for energy renovation of buildings, emphasizing the need to address constraints in the EU renovation market. The EBF advocates for EU-level initiatives to enhance the economic case for energy efficiency investments, coordinated awareness campaigns, and streamlined access to public financial support. It also calls for a deeper public-private partnership to mitigate high credit risk and collateral challenges for vulnerable households.
Policy & regulationOtherClimate risk and sustainable finance
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2025-11-24•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria issued guidelines for handling dud cheques, establishing a framework for reporting and barring customers with insufficient funds. The rules apply to various financial institutions and mandate reporting dud cheques within one hour, notifying customers within two days, and enforcing restrictions on barred customers. Penalties for non-compliance range from NGN 1,000,000 to NGN 5,000,000, depending on the institution and infraction.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-24•Canada•Office of the Superintendent of Financial Institutions
In a speech, OSFI Superintendent Peter Routledge outlined the 2025 focus on integrity and security threats, emphasizing geopolitical instability, technological advancements, and third-party reliance as key risk drivers. He highlighted AI's dual role as a productivity tool and a risk factor, urging responsible adoption with robust governance. On climate risk, Routledge reiterated the importance of Guideline B-15 and other measures to enhance institutions' capacity to quantify climate-related financial risks.
Policy & regulationReform agendas & prioritiesCyber resilienceArtificial intelligence
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2025-11-24•Canada•Office of the Superintendent of Financial Institutions
Canada’s Office of the Superintendent of Financial Institutions has appointed a three-member external panel to review the 32nd Actuarial Report on the Canada Pension Plan, with the UK Government Actuary’s Department advising on the selection and providing an independent opinion. The panel consists of Stephen Butterfield, Iyad Hourani, and Michel St-Germain, all Fellows of the Canadian Institute of Actuaries. The review will follow the report's tabling, expected by 31 December 2025, with findings published subsequently.
SupervisionPeer reviews and country evaluationsAccounting and financial reporting
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2025-11-24•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation reported Q3 2025 results for FDIC-insured institutions, highlighting a net income of USD 79.3 billion and a return on assets of 1.27 percent, driven by strong net interest income and reduced provision expenses. Despite favorable asset quality, weaknesses in certain loan portfolios and elevated unrealized losses remain concerns. The Deposit Insurance Fund balance rose to USD 150.1 billion, with a reserve ratio increase to 1.40 percent.
Data & statisticsAsset qualityCapital adequacyLiquidity risk
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2025-11-24•Canada•Payments Canada
Payments Canada has amended the Automated Clearing Settlement System (ACSS) and Lynx Rules, effective 24 November 2025, to streamline operations and align with global standards. Key changes include harmonising interest rate calculations with the Bank of Canada’s monetary policy, removing references to the Swift MT format as payments transition to ISO 20022, and standardising Lynx payment return procedures. These updates ensure consistency across payment systems and reflect the end of the Swift MT and MX coexistence.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-24•Chile•Central Bank of Chile
The Central Bank of Chile concluded its 28th Annual Conference, themed “Monetary policy, financial markets and future challenges,” marking its centenary. Discussions covered the US dollar's role as a global safe asset, monetary policy risk management, and fiscal considerations, with a keynote on stablecoins' impact on the international monetary regime. The conference attracted around 200 in-person attendees daily and nearly 2,000 online participants.
OtherMonetary policy decisions and developments
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2025-11-24•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) announced measures to reduce regulatory burdens for community banks, including changes to Bank Secrecy Act and Anti-Money Laundering examination procedures and discontinuing a data collection process. The OCC issued guidance to tailor examination procedures based on each bank's risk profile and requested information on challenges with third-party service providers. Additional reforms, including a proposal to lower the community bank leverage ratio requirement, are forthcoming.
Policy & regulationGuidance & interpretationAML and CFTRegulatory burden
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2025-11-24•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde's Board has approved Coris Holding's acquisition of 59.81% of Banco Comercial do Atlântico, S.A., resulting in a change of control. The decision followed a review of Coris Holding's non-objection application, addressing concerns about the acquirer's structure, financial soundness, and AML/CFT compliance. The acquisition must be completed within the timeframe set by the supervisory authority.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-24•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde extended its Emergency Assistance Programme (PAE) to support lending to families, companies, legal entities, and municipalities in Santiago Norte affected by recent torrential rains. Established in August 2025 after storm Erin, the PAE offers central bank financing at 0.75% up to CVE 10 billion with maturities of up to five years. The central bank highlighted climate-related events as increasing risks to financial stability and monetary policy.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-11-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Regional Branch 4 held an operational guidance conference for People’s Credit Funds (PCFs) to ensure compliance and governance ahead of the 2025 financial year-end. The conference covered financial settlement procedures, personnel matters, and operational reminders, emphasizing the need for PCFs to meet 2025 targets and address deficiencies. This session is part of ongoing training for PCFs in Phu Tho, Tuyen Quang, and Lao Cai provinces.
Policy & regulationGuidance & interpretationOther
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2025-11-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) held a roundtable to discuss reforming its performance review process for SBV units and individuals, aligning with Party Regulation 366-QD/TW. The reform emphasizes output- and evidence-based assessments using qualitative and quantitative criteria, focusing on task outcomes, timelines, and accountability. Preparatory work includes developing evaluation software and engaging stakeholders to integrate the new approach with existing banking-sector data systems.
Institutional developmentTechnology & data transformationOther
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2025-11-24•Isle of Man•The Treasury (Isle of Man)
The Treasury (Isle of Man) announced an amendment to a single entry on the UK Sanctions List under the cyber sanctions regime, maintaining an asset freeze. The update concerns Andrei Valerevich Kozlov, linked to cyber activity through Media Land LLC. Firms must freeze assets and report suspected breaches if they match the UK Sanctions List.
Policy & regulationRules & requirementsSanctions list update
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2025-11-24•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Abu Dhabi Global Market Financial Services Regulatory Authority issued Consultation Paper No. 12 of 2025, proposing enhancements to its framework for funds and fund managers. Key proposals include streamlined regulations for fund managers of smaller funds and those targeting institutional investors, amendments to facilitate employee investment in private funds, and revisions for foreign fund managers. Feedback is being sought on these aspects of the regime.
Policy & regulationRules & requirementsLicensing framework and process
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2025-11-23•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic announced Governor Héctor Valdez Albizu co-chaired the 305th Central American Monetary Council meeting, highlighting the IMF's positive Article IV Staff Report. The report noted improved macroeconomic performance, a reclassification to a floating exchange rate regime, and policy space to manage global uncertainty. The central bank projected USD46.0bn in foreign currency inflows for 2025, with economic growth expected to rise from 2.5% in 2025 to 4.0%–5.0% in 2026.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-11-23•Iraq•Central Bank of Iraq
The Central Bank of Iraq convened the Iraqi Payments Council, led by Governor Ali Mohsen Ismail, to assess electronic payment technologies and digital transformation in government institutions, focusing on integration with financial technologies and enhancing private sector investment. The meeting reviewed financial inclusion indicators and the impact of payment infrastructure development, emphasizing strengthening banking culture and financial awareness.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsFinancial inclusion
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2025-11-23•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has launched a consultation on a proposed "Buy Now Pay Later" (BNPL) Module for its Rulebook, targeting short-term credit offerings. The draft includes a minimum capital requirement of BHD 250,000, a risk-based exposure cap, and consumer protection measures like marketing and disclosure standards, fee restrictions, and customer affordability assessments. Licensee feedback is sought through an accompanying questionnaire.
Policy & regulationRules & requirementsBNPL
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2025-11-23•Bahrain•Central Bank of Bahrain
Central Bank of Bahrain Governor Khalid Humaidan highlighted AI's role in enhancing cross-border payments at the Saudi Central Bank’s Innovation Summit. He stressed public-private collaboration in developing data-driven financial services and underscored regulators' roles in managing privacy and cybersecurity risks. Humaidan cited Bahrain’s instant payments system as a successful model and emphasized efforts to integrate it with international networks.
Policy & regulationCooperationCross-border paymentsArtificial intelligence
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2025-11-23•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, led by Chair Mohamed Farid, announced an overhaul of Egypt's accounting and audit framework, including new standards for auditing and assurance engagements. Previous standards will be canceled from 1 January 2027, aligning Egyptian practices with international norms. Additional initiatives include new standards for SMEs, amendments to corporate governance standards, and a project to digitize audit firms.
Policy & regulationRules & requirementsAccounting and financial reportingAuditing
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2025-11-23•Egypt•Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority chair Mohamed Farid, in a virtual lecture at King’s College London, emphasized IOSCO's global standard-setting role and the importance of strong disclosure for investor confidence. He discussed IOSCO's oversight of over 95% of global securities markets and highlighted initiatives on secondary market disclosures, operational resilience, and cryptoasset regulation. Farid noted the uneven application of IOSCO principles and the need for global consistency and cooperation in cryptoasset regulation.
Financial literacy & educationOther
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2025-11-23•Egypt•Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority Chair Mohamed Farid stressed the need for ongoing professional education to align with economic reforms. He highlighted new governance requirements for insurance companies and mandatory training for accountants and auditors. Farid also reported progress in gender inclusion on company boards, with plans to launch a "Women Empowerment" app to connect women with board opportunities and provide leadership training.
Policy & regulationReform agendas & prioritiesFinancial literacy and education
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2025-11-22•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of the Republic of Kosovo attended the Austrian National Bank’s Conference on European Economic Integration 2025, discussing capital market development, cross-border cooperation, and financial-sector digitalisation. He highlighted Kosovo's progress in establishing a capital market, digitalisation efforts like joining the Single Euro Payments Area, and the stable banking sector with low non-performing loans and high liquidity. Ismaili also noted Kosovo's improved credit rating and removal from the IMF's list of fragile countries.
Policy & regulationImplementation, projects & pilotsMacroprudential policy and toolsFinancial stability and systemic risk
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2025-11-22•Indonesia•OJK
The Indonesia Financial Services Authority (OJK) released its Q4 2025 Banking Business Orientation Survey, indicating continued optimism for banking performance through year-end. The survey, covering 102 banks, showed a Banking Business Orientation Index of 66, with expectations of stronger domestic growth, a lower Bank Indonesia policy rate, and a strengthening rupiah. Key sectors for credit growth include manufacturing, mining, and transportation, with confidence in meeting 2025 bank business targets.
Data & statistics
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2025-11-22•China•Central Bank of the Republic of China
The People's Bank of China and the South African Reserve Bank discussed enhancing bilateral financial cooperation in Pretoria. They witnessed the signing of cooperation memoranda between China UnionPay and South African partners, and agreements involving the renminbi Cross-border Interbank Payment System. These initiatives aim to expand UnionPay's services in South Africa and facilitate cross-border renminbi transactions.
Policy & regulationCooperationCross-border cooperation
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2025-11-22•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia launched a Central Securities Depository (CSD) system and Ts’ega, the first National Investor Portal, digitizing core post-trade market infrastructure. The CSD supports securities safekeeping, ownership transfers, clearing, settlement, and portfolio reporting, while Ts’ega offers investors real-time securities information. Existing processes for banks and intermediaries remain unchanged.
Policy & regulationImplementation, projects & pilotsMarket infrastructureMarket development
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2025-11-22•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines stated that the Financial Stability Coordination Council (FSCC) will prioritize mapping corporate linkages in 2026 and is developing a response protocol for systemic disruptions. The FSCC emphasized banking sector resilience, noting strong capital, liquidity, and loan loss provisioning, with stress tests showing capital adequacy ratios above regulatory thresholds. Additionally, the FSCC highlighted risks from non-financial corporations' ties to the financial system and is working on capital market development, including a standardized bond pricing convention.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskMacroprudential policy and tools
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2025-11-22•Oman•Oman Financial Services Authority
The Oman Financial Services Authority updated peers at the Growth and Emerging Markets Committee meeting on its progress in aligning sustainability reporting with IFRS S1 and IFRS S2, stating readiness to adopt these standards. Discussions included legal requirements, sustainability-disclosure frameworks, financial inclusion, and digital technologies. The FSA emphasized cyber-resilience and digital finance as regulatory priorities.
Policy & regulationInternational standards & recommendationsAccounting and financial reporting
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2025-11-22•Europe•European Central Bank
In a keynote speech, ECB President Christine Lagarde countered the fiscal dominance narrative in Europe, highlighting rapid policy and quantitative tightening. She warned of "fiscal stagnation" risks, noting euro area debt improvements, and advocated for growth through spending reallocation, resource pooling, and leveraging EU budget instruments. Lagarde emphasized investment and structural reforms, referencing the European Commission’s Readiness 2030 initiative and reallocating GDP towards research and education.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-11-22•Tanzania•Bank of Tanzania
The Bank of Tanzania issued a notice refuting deceptive reports of a cyber-attack on banks, affirming the security of national payment systems and customer deposits. The central bank urged the public to keep deposits in banks, highlighting benefits such as interest, safekeeping, and insurance. It warned against spreading misinformation and will collaborate with law enforcement to take legal action against offenders.
SupervisionAlertsCyber resilience
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2025-11-22•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, supports imposing "tough, targeted" sanctions on Russia, with plans to advance related legislation to President Trump. Scott highlighted bipartisan efforts by Senators Lindsey Graham and Richard Blumenthal, aiming to weaken President Putin's war efforts and increase pressure on the Kremlin.
Policy & regulationReform agendas & prioritiesSanctions list update
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2025-11-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam conducted a training course at the Banking Academy focused on modern monetary policy amid macroeconomic instability. Deputy Governor Pham Thanh Ha and Director General Pham Chi Quang discussed monetary policy management, inflation stabilization, and policy tools, comparing approaches with major central banks. The program aimed to enhance participants' analytical and forecasting skills in a volatile economic environment.
Institutional developmentCooperation & capacity buildingMonetary policy decisions and developments
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2025-11-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam set operational requirements for Regional Branch 2 after streamlining, emphasizing smooth credit institution operations. The branch, overseeing Ho Chi Minh City and Dong Nai, reported stable money markets and a focus on socio-economic development and poverty reduction. Governor Nguyen Thi Hong urged enhanced monitoring of money-market developments and coordination with local authorities.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-11-21•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission (FSC) has made several decisions in its recent meeting. It decided not to impose a final ban on Unique Inves...
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-21•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama has updated its Memorandum of Understanding with Montserrat’s Financial Services Commission to enhance consolidated and cross-border supervision of banks. The revised agreement, signed by representatives from both authorities, aims to strengthen cooperation and information exchange to support banking supervision and financial stability.
SupervisionCooperationCross-border cooperation
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2025-11-21•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama held its VIII Awareness-Raising Forum to enhance compliance culture among financial entities, focusing on preventing money laundering and terrorism financing. The event provided tools for risk management, compliance with financial sanctions, and addressing challenges related to virtual assets and consumer protection. Contributions from the World Bank emphasized applying regulations and best practices.
Policy & regulationImplementation, projects & pilotsAML and CFTCompliance
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2025-11-21•Italy•Bank of Italy
The Bank of Italy's Financial Stability Report No. 2-2025 highlights limited domestic financial stability risks but notes significant international instability concerns, with rising riskier asset prices and low market volatility posing correction risks. The macrofinancial environment remains stable, supported by narrowing bond spreads, moderate credit recovery, and a sound banking system, though growth prospects are muted. Special-focus areas include stablecoin regulation, hydrogeological risks, stress-testing for smaller banks, European banking crisis management, and Italy's crowdfunding market.
ResearchFinancial stability and systemic riskMarket risk and volatility
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2025-11-21•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission and the General Tax Administration held their second technical workshop under a cooperation protocol, focusing on property tax and fiscal topics related to financial instruments. The workshop aimed to enhance technical development, strategic alignment, and the sharing of regulatory and tax best practices. CMC's Juceline Paquete emphasized harmonizing interpretations and building institutional capacity to bolster financial system integrity.
Policy & regulationCooperationCross-border cooperation
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2025-11-21•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission conducted a lecture at Instituto Superior de Angola on 20 November 2025, focusing on the role of statistical data in analyzing economic and financial information. The session, part of ongoing outreach initiatives, provided insights into capital market trends in Angola and globally, attracting over 100 participants.
Financial literacy & educationFinancial literacy and education
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2025-11-21•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission attended the International Organization of Securities Commissions’ Growth and Emerging Markets Committee meeting in Malta, presenting Angola's "100-day plan for 2025" to facilitate investment initiatives. The meeting focused on enhancing regulation, developing financial infrastructure, and promoting investment-friendly environments. The Commission aims to deepen international dialogue and explore technical cooperation opportunities.
Policy & regulationCooperationCross-border cooperation
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2025-11-21•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) reported that non-bank financial intermediation in Spain expanded in 2024 while maintaining a low risk profile. Assets under the Financial Stability Board's strict measure reached nearly EUR 400 billion, a 13.8% increase from 2023, representing 7.2% of Spain's financial system. The CNMV noted stable credit risk, improved liquidity risk, and low leverage for investment funds, with stress tests showing resilience to severe redemption scenarios.
ResearchFinancial stability and systemic risk
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2025-11-21•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua launched a "Complaints Portal" for confidential reporting of unauthorized financial service providers. The bank regulates Financial Technology Payment Services, Virtual Asset Services, Remittance Payment Services, and Currency Exchange Services. Legal entities and individuals must hold the appropriate licence or credential to offer these services.
SupervisionInterventionsUnlicensed or unauthorized activity