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2025-11-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SSE 8/2025, clarifying interpretations of CVM Resolution 175 and related annexes for receivables, real estate, and agribusiness investment funds. Key points include FIAGRO quota treatment, FIDC manager responsibilities, and FII investments in FIDC quotas. The clarifications respond to inquiries received by the Securitisation and Agribusiness Superintendence.
Policy & regulationGuidance & interpretationSecuritization
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2025-11-17•Zambia•Bank of Zambia
The Bank of Zambia has issued a warning about a fraudulent video and article falsely claiming Governor Dr. Denny H. Kalyalya's endorsement of an investment platform promising high returns. The video is a deepfake, and the article appears on a fake news site, both exhibiting typical online scam traits. The bank urges the public to verify information through official channels and has reported the matter to authorities for investigation.
SupervisionAlertsFraud and scams
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2025-11-17•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced the appointment of Gordana Kalezic and Milan Remikovic as vice-governors, following a unanimous approval by the Parliament of Montenegro. Both will join the Central Bank of Montenegro Council, the institution's highest governing body. These appointments align with Montenegro's EU accession negotiation obligations.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-17•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay's Superintendence of Securities has launched a public consultation on draft regulations for the new capital markets framework following Law No. 7572/2025. The drafts are designed to update the market rulebook, align it with international standards, and strengthen investor protection, transparency and competitiveness. Comments are open until Dec. 31, 2025.
Policy & regulationRules & requirementsMarket development
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation appointed Vivid Money as a Validation Agent in the Global LEI System, facilitating LEI acquisition for SMEs and freelancers in Europe. This partnership with Ubisecure RapidLEI supports compliance with EU regulations like the Instant Payment Regulation, Digital Operational Resilience Act, and Markets in Crypto-Assets Regulation, aiming to enhance LEI adoption in cross-border payments, supply chain digitalization, and ESG reporting.
Policy & regulationImplementation, projects & pilotsOther
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2025-11-17•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain (CBB) outlined supervisory priorities amid increasing digitalization in financial services, emphasizing the need for regulators to invest in digital tools to enhance safety and manage systemic risk. Governor Khalid Humaidan highlighted Supervisory Technology (SupTech) to balance oversight with innovation and urged commercial banks to invest in fintech. The CBB aims for consistent regulatory treatment across banks, non-banks, and fintechs, prioritizing systemic risk management.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-11-17•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain (CBB) announced Governor Khalid Humaidan led Bahrain’s delegation to the Singapore FinTech Festival to enhance cross-border financial innovation. The delegation, including CBB, Bahrain Economic Development Board, and Bahraini financial institutions, showcased digital solutions and engaged with regulators and technology providers. The event, attended by 65,000 participants, facilitated discussions on investment ties and technology partnerships.
Policy & regulationCooperationFintech and insurtechCross-border cooperation
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2025-11-17•Portugal•Bank of Portugal
The Bank of Portugal has maintained its 4% sectoral systemic risk buffer for institutions using the internal ratings-based approach on retail exposures to residential real estate in Portugal. This decision follows an assessment of the buffer's effectiveness and consultation with relevant authorities, including the European Central Bank. The buffer serves as a preventive measure, with potential adjustments if systemic risk in the real estate market arises.
Policy & regulationRules & requirementsMacroprudential policy and toolsPrudential risks
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2025-11-17•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC's Office of the General Accountant revoked E-Value Phils, Inc.'s accreditation and fined it PHP 1 million for unreliable valuation reports for Villar Land Holdings Corp., including a reported PHP 1.33 trillion fair value gain. The reports were non-compliant with International Valuation Standards, lacking documentation and misrepresenting compliance, potentially misleading investors. Villar Land subsidiaries were directed to submit new appraisal reports.
EnforcementInvestigations & enforcement actionsAuditing
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2025-11-17•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) has released a consultation report proposing updated recommendations for valuing collective investment schemes (CIS), revising its 2007 and 2013 principles. The updates address increased CIS holdings of less liquid assets, rising retail investment, and recent valuation challenges, with 13 recommendations covering governance, conflicts of interest, fair value, and more.
Policy & regulationInternational standards & recommendationsValuation
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2025-11-17•Poland•Central Bank of Poland
The Central Bank of Poland reported October 2025 core inflation indices, with inflation excluding food and energy at 3.0% year on year and the Consumer Price Index at 2.8%. Most core measures showed a decline from the previous month, with inflation excluding administered prices at 2.3% and the 15% trimmed mean at 2.6%. The bank emphasized using four core measures to identify inflation sources and assess persistence, highlighting the measure excluding food and energy for its relevance to monetary policy.
Data & statisticsMonetary data
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2025-11-17•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority's 2025 Life Insurance Stress Test showed major UK life insurers in the bulk purchase annuity market would remain above regulatory capital requirements under severe financial shocks. Conducted under the Solvency UK regime, the test revealed a GBP 8.6 billion drop in aggregate capital surplus and a decline in the solvency capital requirement coverage ratio from 185% to 154%. Exploratory scenarios indicated further potential risks, with the PRA considering future actions to address regulatory capital treatment of Funded Reinsurance transactions.
SupervisionReviews, inspections & stress testsStress testing
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2025-11-17•Global•International Monetary Fund
The International Monetary Fund's Fintech Note on retail central bank digital currencies (rCBDCs) addresses applying existing AML/CFT standards. It examines rCBDC design features impacting money laundering and terrorism financing risks, challenges in implementing Financial Action Task Force Standards, and discusses supervisory considerations and opportunities for enhanced monitoring in unified ledger environments.
Policy & regulationGuidance & interpretationCBDC
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2025-11-17•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority announced the appointment of new members to its Enforcement Committee.
Institutional developmentLeadership change & appointmentsOther
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2025-11-17•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved the prospectus for SGTM's initial public offering, granting its visa for the transaction.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has appointed Vivid Money as a Validation Agent in the Global LEI System, facilitating LEI acquisition for European SMEs and freelancers. This integration aims to streamline compliance with EU regulations and promote broader LEI adoption in areas like cross-border payments and ESG reporting.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervision process and methodologies
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has appointed Vivid Money as a Validation Agent in the Global Legal Entity Identifier System, allowing its European SME and freelancer clients to obtain LEIs through standard onboarding processes. This supports compliance with EU regulations and aims to expand LEI use in areas like cross-border payments and ESG reporting.
Policy & regulationImplementation, projects & pilotsOther
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2025-11-17•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada's report from the 2024 Canadian Financial Capability Survey shows 35% of Canadians sought financial advice last year, mainly through free channels. Of nearly 8,000 respondents, 76% used free advice, primarily from friends or family, focusing on general financial planning. Younger Canadians aged 18 to 34 were more inclined to seek advice, often using informal sources like social media, while lower-income and less-educated individuals were less likely to seek advice.
Data & statisticsFinancial literacy and education
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is advancing a "smart regulation" model to enhance digital transformation in the non-banking financial sector, as detailed by FRA Chair Mohamed Farid at Cairo ICT 2025. Developments include 300,000 digital verification transactions, 250,000 authenticated digital contracts, and the approval of the first digital real estate investment platform. The initiative is supported by recent regulatory decisions on technology infrastructure, digital identity, and the establishment of the FRA Sandbox and FinTech Forum.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
At Cairo ICT 2025, Mohamed Farid, chair of Egypt's Financial Regulatory Authority, outlined a digital roadmap for the non-banking financial sector, emphasizing mandatory digitisation, data-driven supervision, and technology partnerships. Initiatives include collaborating with eFinance on a payments platform, partnering with eTax for invoice verification, adopting electronic know-your-customer (e-KYC) processes, and introducing online insurance sales and fractional ownership platforms.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's FRA Sandbox signed cooperation protocols with Liquid C2, Cyber Force, and JRNY at Cairo ICT 2025 to enhance cybersecurity, cloud capabilities, and support innovation in the non-banking financial sector. These partnerships aim to provide a secure testing environment for startups and aid the regulator in developing effective regulatory frameworks.
SupervisionInnovation & testingFintech and insurtechSupervision process and methodologies
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2025-11-17•Global•International Monetary Fund
The International Monetary Fund has outlined how Financial Action Task Force standards should apply to retail central bank digital currencies. Jurisdictions should assess money laundering and terrorism financing risks before launch and tailor safeguards to each currency’s design and use cases. Privacy, tiered access and offline payments require specific controls for customer due diligence, sanctions screening, transaction monitoring and record-keeping.
Policy & regulationGuidance & interpretationAML and CFTCBDCKYC
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2025-11-17•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets warns of a fraud scheme where criminals impersonate mobile network operators via messaging apps to control victims' phones and access banking services. The scam tricks individuals into installing fake support apps, allowing fraudsters access to banking apps and personal data. The Commission advises against installing remote-control apps, sharing sensitive information, and recommends verifying requests through official channels.
SupervisionAlertsFraud and scams
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2025-11-17•United States•U.S. Securities & Exchange Commission
SEC Commissioner Caroline A. Crenshaw discussed the Division of Corporation Finance's choice not to address no-action requests under Rule 14a-8 for excluding shareholder proposals this proxy season due to resource and timing constraints. Companies can still get staff "no objection" letters for proposal omissions based on Rule 14a-8 grounds, without staff evaluation. The announcement includes a carve-out for non-binding proposals and recent state law developments, emphasizing that past staff responses are non-binding and informal.
Policy & regulationGuidance & interpretationCorporate governance
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2025-11-17•United States•U.S. Securities & Exchange Commission
The SEC’s Division of Corporation Finance will not respond to most Rule 14a-8 no-action requests for the 2025–2026 proxy season, except under Rule 14a-8(i)(1), due to resource constraints. Companies must still provide the required informational notice under Rule 14a-8(j) but are not required to seek staff views. The Division will issue a non-objection letter for exclusions based on a company's unqualified representation, without evaluating the basis, and will continue to review Rule 14a-8(i)(1) requests.
Policy & regulationGuidance & interpretationCorporate governance
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2025-11-17•Egypt•Central Bank of Egypt
The Central Bank of Egypt reported a 45.1% year-on-year increase in remittances from Egyptians working abroad, totaling approximately USD 30.2 billion for January to September 2025. September 2025 alone saw a 30.9% rise to around USD 3.6 billion compared to the same month in 2024.
Data & statisticsBalance of payments and other external statistics
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2025-11-17•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub released a white paper on Project Rio, a real-time market monitoring platform developed with central banks to enhance oversight of electronic markets, especially foreign exchange. The platform processes high-frequency data with sub-two-second latency, offering insights on liquidity, trading activity, and risks through a modular, scalable architecture and an intuitive dashboard.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-11-17•Macao•Monetary Authority of Macao
The Monetary Authority of Macao detailed its 2025 policy agenda, focusing on optimizing the bond market and modernizing the legal framework for investment funds. Key developments include a direct network service between Macao and Hong Kong's bond market infrastructures, a revised Investment Funds Law, and infrastructure upgrades for payments and digital finance. The authority reported over 1,000 bond issuances with a cumulative value exceeding MOP 1,000 billion by October 2025.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-11-17•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) released its 2025 Risk Monitor, highlighting intensified risks in financial and non-financial sectors, including real estate, credit, and cyber risks. FINMA emphasizes stronger controls over outsourcing and technological resilience, closely monitoring mortgage underwriting and cyber safeguards. The report also includes FINMA’s climate risk assessment, noting increased transition and physical risks from climate change.
SupervisionRisk monitoring & watch pointsClimate risk and sustainable finance
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2025-11-17•Nepal•Nepal Insurance Regulatory Authority
The Nepal Insurance Regulatory Authority has updated the production-based vegetable crop insurance framework to include potatoes in the insurable vegetable schedule. The circular specifies coverage details for various potato varieties, including sums insured and crop periods, under a new "Potato Group" classification. Insurers are directed to align potato crop insurance coverage with the updated schedule.
Policy & regulationRules & requirementsOther
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2025-11-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Region 6 branch conducted a training conference for People’s Credit Funds in Hai Phong city and Quang Ninh province, emphasizing cash vault safety and information system security. The training covered vault controls, key holder responsibilities, and information security requirements under Circular 09/2020/TT-NHNN. Participants were urged to review internal processes and implement the guidance provided.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-11-17•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub released a report on Project Rio, a cloud-based tool for real-time monitoring of foreign exchange trading venues to assist central banks in identifying market dislocations and liquidity issues. The tool employs open-source, modular technology for adaptability and features an interactive dashboard developed with central bankers.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-11-17•Luxembourg•Luxembourg Commissariat aux Assurances
The Luxembourg Commissariat aux Assurances published its Q3 2025 press communiqué detailing quarterly indicators for the Luxembourg insurance sector.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-17•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) submitted draft regulatory technical standards to the European Commission on new macroprudential tools under the revised Solvency II framework. These standards include liquidity risk management plans and mandatory macroprudential analyses, with criteria for medium and long-term liquidity assessments and integration into Own Risk and Solvency Assessments. The European Commission will review these drafts for potential adoption within three months.
Policy & regulationRules & requirementsLiquidity riskMacroprudential policy and tools
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2025-11-17•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE launched the UAE National Financial Inclusion Strategy (NFIS) 2026–2030 at the Middle East and North Africa Leaders’ Summit on Financial Inclusion in Abu Dhabi. Developed with the World Bank, OECD, and Arab Monetary Fund, the NFIS aims to enhance financial access, literacy, and digital transformation, with objectives like increasing financial account ownership and digital payment use by 2030. The summit also revealed the Arab region’s Findex results and announced the UAE as the host for Global Money Week in 2026.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-11-16•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has initiated a project to automate financial reporting by supervised entities, including a regulatory sandbox for testing automated data submissions. This initiative aims to enhance control, transparency, and efficiency in the financial system while identifying and mitigating systemic risks. The project will be implemented in multiple phases, with a focus on technology developments and information security.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-11-16•Palestine•Palestine Capital Market Authority
The Palestine Capital Market Authority and the Palestine Monetary Authority convened the Entrepreneurship, Small and Medium Enterprises Working Group to develop a three-year work plan under Palestine’s Financial Inclusion Strategy. The meeting emphasized alignment with the 2023 National Financial Inclusion Assessment and the National Strategy for Micro, Small, and Medium Enterprises (2025–2029), aiming to enhance financial products, encourage formal registration, and boost MSMEs' GDP contribution.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-11-16•Palestine•Palestine Capital Market Authority
The Palestine Capital Market Authority's Board Chairman, Ammar Aker, met with Turkish Ambassador Ismail Çobanoglu to discuss economic and developmental issues and PCMA's current operations. Aker highlighted efforts to stabilize sectors under PCMA supervision and appreciated Turkey's support. The ambassador praised PCMA's role and emphasized strengthening bilateral relations.
Policy & regulationCooperationOther
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2025-11-16•Egypt•Egypt Financial Regulatory Authority
Egypt's Financial Regulatory Authority revoked the microfinance licenses of 258 category C civil associations and institutions for non-compliance with regulations under Law No. 141 of 2014, as amended by Law No. 201 of 2020. Violations included failure to conduct activities, refusal to submit reports, and non-compliance with the credit inquiry system. The FRA will continue to provide technical support and training for compliant entities and may implement further measures to maintain market discipline.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-11-16•Egypt•Egypt Financial Regulatory Authority
Egypt’s Prime Minister has appointed Dr Ahmed Abdel Aziz as Deputy Chairman of the Board of the Egypt Financial Regulatory Authority. This follows a presidential decree renewing Dr Mohamed Farid Saleh's chairmanship for one year, marking his fourth term. Abdel Aziz, with over 25 years of experience in the insurance sector, will serve for the remaining term of the current board.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-16•Egypt•Central Bank of Egypt
The Central Bank of Egypt is participating in the 12th PAFIX International Conference, focusing on digital transformation in banking, FinTech, and AI. The bank showcased its "Digital Financial Identity" platform, enabling remote e-KYC and digital account access. Senior officials will discuss global banking shifts and AI's impact on the sector during the conference.
Policy & regulationCooperationFintech and insurtechArtificial intelligence
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2025-11-16•Nepal•Central Bank of Nepal
The Central Bank of Nepal submitted its annual report for financial year 2079/80, highlighting an 11% increase in net profit to NPR 10.41 billion and a 23% rise in assets and liabilities to NPR 1.86 trillion. A Board decision allocated funds and made NPR 12 billion available to the Government of Nepal. The report fulfills statutory obligations under the Nepal Rastra Bank Act, 2058.
Data & statisticsActivity and performance reporting
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2025-11-15•Nepal•Central Bank of Nepal
The Central Bank of Nepal hosted a seminar in Kathmandu for Dr. Yadav Prasad Pant's 110th birth anniversary, highlighting his role in shaping Nepal's modern economy. Finance Minister Rameshwar Prasad Khanal and Governor Prof. Dr. Bishwanath Paudel emphasized Pant's contributions to monetary and fiscal policy, including structural reforms and international relations. The event featured a working paper and a documentary on Pant's legacy.
Other
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2025-11-15•Global•Egmont Group
The Egmont Group marked 30 years of combating financial crimes by facilitating secure exchanges among 182 financial intelligence units (FIUs) and published five reports to aid FIUs in tackling evolving threats. The reports focus on FIUs' roles in addressing environmental crime and enhancing international cooperation on money laundering with guidance from the Financial Action Task Force, INTERPOL, and the United Nations Office on Drugs and Crime.
Policy & regulationCooperationAML and CFT
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2025-11-15•Greece•Ministry of National Economy and Finance (Greece)
Greece's Minister of National Economy and Finance, Kyriakos Pierrakakis, outlined the economic and digital transformation agenda, emphasizing productivity, support for vulnerable groups, and capital market reforms. He highlighted the potential acquisition of the Athens Stock Exchange by Euronext for deeper European liquidity. The speech praised Greece’s Public Debt Management Agency and reiterated the importance of fiscal balance, a healthy banking system, and reforms.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-11-15•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia announced new initiatives to enhance financial literacy at the Karnival Celik Kewangan Pulau Pinang. These include a pilot "Just-in-Time Financial Education" programme targeting youth and civil servants, and a Medical and Health Insurance/Takaful guide for consumers. Additionally, the Financial Education Network has renewed the National Strategy for Financial Literacy 2026–2030.
Financial literacy & educationFinancial literacy and education
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2025-11-15•Global•United Nations Environment Programme Finance Initiative
The UNEP FI released guidance for banks and insurers in Latin America and the Caribbean on integrating a "just transition" into operations, focusing on climate, social, and human rights. The report, informed by regional UNEP FI members and advisory institutions, outlines practical approaches for financial solutions supporting climate action and social goals, while engaging local stakeholders. The guidance is available in Spanish, with an executive summary in English and Portuguese.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-11-15•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs, through Chairman Tim Scott, criticized the Federal Reserve for ongoing ethics scandals, citing the investigation of former Governor Adriana Kugler as evidence of inadequate guardrails and accountability. Scott urged the next Federal Reserve Chair to restore integrity and transparency to regain public trust.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-11-14•Albania•Ministry of Finance (Albania)
Albania's Ministry of Finance, in a joint press conference with the IMF and the Bank of Albania, outlined the government's macroeconomic outlook and fiscal strategy in the draft 2026 budget. Finance Minister Petrit Malaj reported GDP growth of 3.6% in the first half of 2025, projecting 3.9% for the full year, focusing on maintaining a positive primary balance and fiscal space for emergencies. The IMF's Anke Weber highlighted debt reduction due to prudent fiscal policy and emphasized the need for reforms to achieve EU accession by 2030.
Policy & regulationOtherMonetary policy decisions and developments
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2025-11-14•Belgium•Belgium Financial Services and Markets Authority
Belgium Financial Services and Markets Authority Chairman Jean-Paul Servais, at a BIS symposium, linked IOSCO’s agenda to financial health outcomes. He emphasized finance technology's role in financial inclusion and highlighted FSMA's Wikifin programme initiatives for investor protection and financial literacy. Servais also discussed financial education's importance in helping retail investors navigate new technologies and prevent online scams.
Financial literacy & educationFinancial literacy and educationConsumer and investor protection
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2025-11-14•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama held the seventh College of Supervisors for Ficohsa Financial Group to enhance cross-border supervision through information sharing. The forum aimed to strengthen cooperation and supervisory effectiveness among jurisdictions, focusing on the group's performance, risk management, and economic challenges. Participants included regulators from Guatemala, Honduras, Nicaragua, and Panama, as well as board members and senior management from the group's entities.
SupervisionCooperationCross-border cooperation
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2025-11-14•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama hosted an IMF mission for the annual Article IV review, focusing on Panama's economic and financial situation. Superintendent Milton Ayón Wong emphasized the visit as a technical exchange to assess progress in the banking system and analyze regulatory and supervision challenges. The IMF mission, led by Bas Bakker, will engage with various stakeholders to evaluate Panama's macroeconomic performance and financial system evolution.
SupervisionCooperationEconomic data and developmentsFinancial stability and systemic risk
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2025-11-14•Global•Group of International Finance Centre Supervisors
The Group of International Finance Centre Supervisors held a plenary meeting in the Virgin Islands, discussing Basel III implementation in smaller jurisdictions and conducting a workshop on asset recovery with the World Bank and the United Nations Office on Drugs and Crime. The agenda included asset recovery roles, data sharing, TCSP supervision, and sustainable finance practices, with the next meeting planned for London in April 2025.
SupervisionCooperationPrudential risks
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2025-11-14•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) and the Alliance for Financial Inclusion (AFI) published a study on financial inclusion among 18–29-year-olds in rural and suburban areas, focusing on behavioral barriers and gender norms. The pilot intervention, conducted with local partners, improved financial habits, increased use of formal financial products, and addressed gender stereotypes. Findings will guide future programs to enhance financial education and equitable inclusion for young people in Mexico.
ResearchFinancial inclusion
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2025-11-14•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) and the Alliance for Financial Inclusion (AFI) published a study on financial inclusion among 18 to 29 year olds in rural and suburban areas, highlighting barriers like distrust in the financial system and gender norms. A pilot intervention improved financial behaviours and increased use of formal financial products. CNBV and AFI plan to use these findings to design future programmes for enhanced financial education and inclusion.
ResearchFinancial inclusion
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2025-11-14•Kosovo•Central Bank of the Republic of Kosovo
At the "Risk Management 2025" forum, Kosovo's Central Bank Deputy Governor Milot Cakaj emphasized commitment to financial stability and EU-aligned supervision. At a Kosovo Banking Association event, Cakaj and Banking Supervision Director Terziqi stressed the importance of supervisory dialogue and strategic risk management, highlighting proactive approaches to liquidity, capital, and funding amid evolving market conditions.
SupervisionSupervision approach, priorities & toolkitRisk managementFinancial stability and systemic risk
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2025-11-14•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) warns about fraudulent websites and "investment firms" falsely claiming FSMA authorisation. Entities like Aether Groups Inc. and others are not authorised in Belgium. FSMA advises using its "Check your provider" tool and clarifies it doesn't recover investments or request financial information.
SupervisionAlertsFraud and scams
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2025-11-14•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand will ease loan-to-value ratio (LVR) restrictions from 1 December, increasing the share of new lending allowed with higher LVRs for owner-occupiers and investors. The changes follow the introduction of debt-to-income restrictions and will be monitored by the Financial Policy Committee, which will review LVR settings annually.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-11-14•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) announced that Insurance Commissioner Dr. Baghayo Saqware has commenced a tour of ten regional zones to evaluate zonal performance and insurance service accessibility. The initiative aims to ensure insurance coverage for all citizens, with recent visits to the Lake Tanganyika Zone focusing on universal health insurance implementation and infrastructure development.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-11-14•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted decisions affecting real estate transaction funds, ownership structures, and market infrastructure. Measures include regulations on fund certificates, ownership structures, and amendments for property management. Supervisory actions involved asset blocking sanctions and prohibitions on depository system changes, while licensing decisions included bond issue registrations and senior appointments.
Policy & regulationRules & requirementsLicensing framework and process
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2025-11-14•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a regulation standardizing ownership structure requirements and the approval process for significant participation in capital and commodity markets. It applies to entities seeking or holding licenses and those acquiring significant participation, with compliance required by February 2026. Existing licensing conditions remain applicable unless they conflict with the new regulation.
Policy & regulationRules & requirementsCorporate governance
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2025-11-14•Uruguay•Central Bank of Uruguay
Central Bank of Uruguay President Guillermo Tolosa discussed the impact of Uruguay’s inflation-targeting regime on exchange-rate dynamics and corporate funding. He highlighted the free-floating exchange rate and no central bank intervention in the foreign-exchange market for over four years. Tolosa cautioned against relying on USD deposits as a hedge, emphasizing active risk management to protect enterprise value amid exchange rate volatility.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-11-14•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia's Head, Davit Onoprishvili, is attending the IAIS 2025 Week of Committees and annual conference in Tirana, representing the Central, Eastern Europe and Transcaucasia region. Discussions focus on implementing IAIS strategic goals, enhancing cooperation, and promoting unified global insurance supervision approaches. The event concludes with the IAIS annual conference on 14 to 15 November.
SupervisionCooperationCross-border cooperation
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2025-11-14•Lebanon•Central Bank of Lebanon
The Central Bank of Lebanon issued Basic Circular No. 171, requiring banks and regulated institutions to comply promptly with requests from the Central Bank or the Banking Control Commission to lift banking secrecy. Requests can seek information on entities or individuals up to ten years retroactively and must be transmitted securely. Non-compliance may result in sanctions, with the Banking Control Commission overseeing implementation and potentially specifying further measures.
Policy & regulationRules & requirementsOther
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2025-11-14•Lebanon•Central Bank of Lebanon
Lebanon's Central Bank mandates non-banking financial institutions use "Currency Transaction – Form RF1" to collect and transmit KYC and transaction data for currency transactions of USD 1,000 or more. This applies to BdL-regulated entities, exchange institutions, and e-wallet providers, requiring encrypted data transmission within two business days. Non-compliance may result in administrative sanctions under Article 208 of the Code of Money and Credit.
Policy & regulationRules & requirementsKYC
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2025-11-14•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has amended the Non-Banking Finance Companies Regulations, 2008, impacting lending NBFCs, peer-to-peer platforms, and non-banking microfinance companies. Key changes include a regulated credit guarantee activity, relaxed experience requirements for NBFC founders and CEOs, and a simplified borrower factsheet. The reforms enhance transparency, credit reporting, and governance standards, with increased loan size limits for microfinance and revised board requirements.
Policy & regulationRules & requirementsLendingPrudential risks
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2025-11-14•China•Central Bank of the Republic of China
The People's Bank of China reported Vice Governor Xuan Changneng's participation in a BIS governors' meeting in Basel and meetings with UK financial authorities, focusing on international policy dialogue and cooperation. Discussions included the global economic outlook, cross-border payments, non-bank financial institutions' impact on monetary policy, and population ageing's effect on financial stability. In London, Xuan engaged with UK authorities on China-UK monetary cooperation and financial regulation, with both parties expressing intent to enhance collaboration.
Policy & regulationCooperationCross-border cooperation
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2025-11-14•China•Central Bank of the Republic of China
The People's Bank of China has issued the Interbank Market Brokerage Business Management Measures to enhance oversight and standardize conduct in interbank market brokerage activities, effective 1 January 2026. The framework outlines permissible brokerage services across various markets and mandates strengthened internal controls and client responsibilities. It also reinforces supervisory arrangements to prevent violations and market disruptions.
Policy & regulationRules & requirementsMarket infrastructure
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2025-11-14•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) released its September 2025 Insurance Sector Risk Dashboard, maintaining macroeconomic and credit risks at medium-high and revising liquidity risk down to low. Market risk is on a downward trajectory, while profitability and solvency risks remain medium-low. ASF noted improved sector profitability and flagged potential asset price correction risks in Portugal's real estate market.
SupervisionRisk monitoring & watch pointsPrudential risksMarket risk and volatilityLiquidity risk
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2025-11-14•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong announced the reappointment of Ms Julia Leung as CEO of the Securities and Futures Commission for a two-year term starting January 1, 2026. Ms Leung has led the SFC's regulatory and market development efforts, including securities market reforms and enhancing market access between Mainland China and Hong Kong. She has been with the SFC since 2015, serving in various leadership roles.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-14•Colombia•Superintendencia Financiera de Colombia
Colombia’s Financial Superintendency reported that the financial system remains resilient, with credit institutions maintaining solvency and liquidity above regulatory minimums. The loan portfolio shows positive growth, and delinquency rates are declining, despite some commercial sector challenges. The committee highlighted favourable global financial conditions, though uncertainty remains regarding their persistence.
SupervisionRisk monitoring & watch pointsPrudential risksLiquidity risk
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2025-11-14•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced the re-appointment of Ms. Julia Leung as Chief Executive Officer for another two-year term starting 1 January 2026. The extension aims to advance regulatory reform, market development, and operational continuity, with a focus on data, talent, succession planning, investor protection, market integrity, and innovation.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-14•Greece•Ministry of National Economy and Finance (Greece)
At a Centre for European Policy Studies event, Greece's Minister of National Economy and Finance, Kyriakos Pierrakakis, emphasized fiscal prudence and reforms as key to Greece's economic recovery post-euro referendum. He highlighted nearly 100 reforms over six years and discussed challenges like productivity and investment. Pierrakakis also advocated for the EU's Savings and Investment Union and digital reforms focused on citizen services.
Policy & regulationReform agendas & prioritiesOther
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2025-11-14•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance, led by Minister Kyriakos Pierrakakis, filed a criminal complaint against unknown administrators of a Facebook page for a misleading investment ad using AI-altered deepfake material. The ad falsely depicted the minister promoting "high-return programmes." Prosecutorial authorities and the Cyber Crime Division of the Hellenic Police have been notified.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-11-14•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance outlined macro-fiscal assumptions for the 2026 budget, forecasting 2.4% GDP growth and a 2.8% primary surplus, with public debt projected to fall to 137.6% of GDP. Debt management plans include a "light" 2026 borrowing programme and early repayment of the first bailout package by 2031. Minister Pierrakakis supported Euronext's offer for the Athens Stock Exchange and emphasized a legally robust approach to frozen Russian assets, with an EU decision expected soon.
Policy & regulationReform agendas & priorities
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2025-11-14•Austria•Austrian National Bank (OeNB)
The Austrian National Bank hosted the TIBER-EU Provider Conference, now "T-REX 2025," in Vienna, focusing on threat-led penetration testing (TLPT) mandated by the EU Digital Operational Resilience Act (DORA). With DORA in effect, TLPT is now compulsory for many financial firms, transitioning from voluntary TIBER tests while maintaining the TIBER-EU framework. The event emphasized experience-sharing and cooperation among 200 participants, highlighting TLPT as both a learning exercise and a supervisory tool.
Policy & regulationCooperationCyber resilience
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2025-11-14•Zimbabwe•Zimbabwe Insurance and Pensions Commission
Zimbabwe's Insurance and Pensions Commission will host the Organization of African Insurance Supervisory Authorities Annual General Assembly in Harare from 17 to 20 November 2025. The event will focus on regulatory cooperation, resilient insurance markets, consumer protection, and financial inclusion, featuring discussions on agricultural index-based insurance and opportunities related to the African Continental Free Trade Area.
SupervisionCooperationCross-border cooperation
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2025-11-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the Exchange Fund’s analytical accounts for October 2025, revealing a HKD 50.0 billion increase in foreign assets to HKD 3,509.1 billion. The Monetary Base stood at HKD 2,026.7 billion, with claims on the private sector at HKD 313.4 billion and foreign liabilities at HKD 36.5 billion. The HKMA issues four Exchange Fund data releases monthly, including under the International Monetary Fund’s Special Data Dissemination Standard.
Data & statisticsBalance of payments and other external statistics
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2025-11-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites and phishing targeting The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA emphasized banks will not send SMS or emails with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Crime Wing Information Centre of the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-11-14•Global•Ceres
Ceres backs California's proposal for major insurers to submit plans for managing climate and financial risks, calling it a pioneering US solvency requirement. The letter cites recent market stress, including $25-40 billion in losses from the January 2025 Los Angeles wildfires and growth in the California FAIR Plan. Ceres suggests aligning with Task Force on Climate-related Financial Disclosures cycles, offering guidance for smaller carriers, mandating public disclosure, and updating plans regularly.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-11-14•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
At the XIII Congress of Kazakhstan Financiers, the Agency for Regulation and Development of the Financial Market outlined its reform agenda, focusing on a draft new Banking Law and prudential measures. Key reforms include "basic" and "universal" banking licenses, proportional regulation, and measures to rebalance credit growth. Additionally, a new law mandates a decision-making period for unsecured loans and requires banks to implement antifraud systems.
Policy & regulationReform agendas & prioritiesOther
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2025-11-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) conducted an ESG-focused study visit in Chiang Rai to enhance its internal ESG capacity-building programme. The delegation examined sustainability practices at the Mae Fah Luang Foundation and Singha Park Chiang Rai, focusing on holistic development, green operations, and social enterprise initiatives. The OIC aims to integrate these insights into its internal processes and governance.
Institutional developmentCooperation & capacity buildingESG
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2025-11-14•Mexico•CONDUSEF
Mexico's CONDUSEF issued an alert about the impersonation of AHORA TÚ, MÁS, S.A.P.I. de C.V., SOFOM, E.N.R. Fraudsters use WhatsApp and lendrock.com.mx to offer fake car loans and request upfront payments. AHORA TÚ, MÁS clarified it does not provide auto financing and urged users to verify financial institutions in SIPRES and treat advance payment requests as red flags.
SupervisionAlertsFraud and scams
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2025-11-14•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia reported that Slovenia's GDP grew by 0.8% quarter-on-quarter and 1.7% year-on-year in Q3, surpassing euro area growth rates. Despite strong domestic demand and increased public infrastructure investment, export activity declined, and the central bank anticipates weaker GDP growth for the year compared to the previous two years, with new projections expected in December.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-11-14•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, with the Institute for Youth Development KULT and the Embassy of Sweden, presented findings showing youth financial literacy below OECD standards. The study noted limited economic understanding, with young people prioritizing spending over saving but showing a positive attitude towards responsible borrowing. Recommendations include practical financial education, digital tools, and partnerships with financial institutions to improve literacy.
ResearchFinancial literacy and education
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2025-11-14•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported on Governor Jasmina Selimovic’s meeting with Germany’s ambassador, Alfred Grannas, discussing macroeconomic projections, monetary stability, and Bosnia and Herzegovina’s integration with the European market. Key topics included SEPA membership, German foreign direct investment, and cooperation with the Deutsche Bundesbank. Both parties agreed to focus on financial stability, payment system modernization, and support for European integration.
Policy & regulationCooperationCross-border cooperation
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2025-11-14•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the 45th Brazilian Congress of Internal Audit, focusing on the evolving role of internal audit in corporate governance. Discussions included using artificial intelligence, data analytics, and continuous auditing to enhance governance, risk management, and internal controls. SUSEP aims to integrate its audit function more closely with its Governance, Risk and Controls Committee and integrity bodies.
Institutional developmentCooperation & capacity buildingAuditing
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2025-11-14•Global•IOSCO
IOSCO released a final report on pre-hedging, proposing a definition and guidance for jurisdictions considering regulatory changes. The report aims to harmonize interpretation across regions and enhance clarity for market participants, emphasizing that IOSCO's recommendations are not legally binding. Key recommendations include limiting pre-hedging to risk management, ensuring client benefit, and implementing robust governance and compliance measures.
Policy & regulationInternational standards & recommendationsTrading
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2025-11-14•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten hosted the 65th Bi-Annual Meeting of CARICOM Central Bank Governors, focusing on regional economic resilience and global challenges like climate risk. Discussions included developing a Regional Green Financial Taxonomy and piloting the CARICOM Payment and Settlement System (CAPSS) to enhance financial inclusion and cross-border transactions. Governors emphasized the importance of public institutions in digital technology evolution, addressing cybersecurity and the role of the U.S. dollar amid stablecoin growth.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-11-14•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten hosted the 2025 Adlith Brown Memorial Lecture, featuring Jeanette Semeleer, President of the Central Bank of Aruba, as the keynote speaker. Semeleer discussed Aruba's strategy for economic resilience through diversification, human capital investment, and environmental stewardship. The lecture emphasized crisis management and institutional collaboration in addressing geopolitical and climate challenges.
OtherClimate risk and sustainable finance
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2025-11-14•South Africa•South African Reserve Bank
The South African Reserve Bank has released a list of registered and active institutional investors on its website.
Data & statisticsOther
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2025-11-14•South Africa•South African Reserve Bank
The South African Reserve Bank's Prudential Authority, with Finance Minister approval, exempts specified payment activities from the Banks Act under conditions. These include issuing electronic money, payment instruments, and third-party payment services, regulated under the National Payment System Act. The exemption facilitates these activities under Reserve Bank oversight, excluding credit and investment activities.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-14•South Africa•South African Reserve Bank
The South African Reserve Bank's draft directive proposes an activity-based framework for authorising and supervising entities in domestic payment activities. It outlines requirements for e-money and payment instrument issuance, excluding cross-border payments, with tiered thresholds and capital requirements based on transaction values. It mandates safeguarding client funds, governance standards, and reporting expectations, with specific capital requirements for non-bank applicants.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas) issued a public alert against fraudulent text messages mimicking legitimate financial institutions with malicious links. The BSP emphasized that banks will not send clickable links via text or email, referencing BSP Memorandum No. M-2022-015. The public is advised to avoid clicking links, enable multi-factor authentication, and report incidents to relevant authorities.
SupervisionAlertsFraud and scams
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2025-11-14•Philippines•Central Bank of the Philippines
During the 36th National Statistics Month, the Central Bank of the Philippines emphasized reliable data's role in policy design and monitoring Sustainable Development Goals. The event, themed “Accelerating the Sustainable Development Goal Pace of Progress: Mobilizing Data for All,” included activities by the Philippine Statistical System to promote inclusive data use. The Philippine Statistics Authority acknowledged contributions from various sectors in advancing effective statistical practices.
Other
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2025-11-14•South Korea•South Korea Financial Supervisory Service
In October 2025, foreign investors were net buyers of KRW4.2050 trillion in South Korean stocks and net sellers of KRW178.0 billion in bonds. European investors, especially from the UK and Ireland, led stock purchases, while the US was the largest net seller. Bond activity showed net purchases from Europe but net sales from Asia and the Middle East, with significant selling in bonds maturing in less than one year.
Data & statisticsForeign exchange policy and markets
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2025-11-14•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission and the Credit Counseling and Recovery Service launched the KRW550 billion "New Leap Loan" programme to aid debtors with overdue debts of seven years or more. Formalized through an MOU with major banks and Seoul Guarantee Insurance, it offers loans up to KRW15 million at 3.0% to 4.0% interest for three years. Additionally, a special restructuring support programme is available for debtors with overdue debts of five years or more, providing principal reductions and instalment plans.
Policy & regulationImplementation, projects & pilotsLending
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2025-11-14•Europe•European Central Bank
ECB Executive Board member Frank Elderson stressed "simplification without deregulation" at the ECB Forum on Banking Supervision 2025, aiming to reduce prudential regulation complexity while maintaining bank resilience. He highlighted reforms to the Supervisory Review and Evaluation Process (SREP) and the "next-level supervision" project, using machine learning and fast-track processes. The ECB's Governing Council has set up a High-Level Task Force on Simplification to propose further regulatory simplifications by the end of 2025.
Policy & regulationReform agendas & prioritiesCapital adequacyAsset quality
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2025-11-14•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) is reviewing the AIFC Public Register to verify the operational status of registered entities and enhance oversight. This involves checking annual report submissions, registration details, and compliance with AIFC Acts, with non-responsive firms potentially being struck off. The initiative aligns with international anti-money laundering and counter-terrorist financing standards.
SupervisionReviews, inspections & stress testsOther
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2025-11-14•Europe•European Council
At the Sixth European Central Bank Forum on Banking Supervision, the European Council stressed enhancing euro area banking resilience and financial integration. The speech emphasized deeper capital markets, the Savings and Investment Union, and completing the Banking Union, while warning against regulatory fragmentation and advocating for supervisory independence and transparency. It also called for regulatory simplification and action on recommendations from Enrico Letta and Mario Draghi.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskSupervision process and methodologies