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2025-11-07•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has initiated a public consultation on a draft rule to align Brazilian accounting standards with International Accounting Standards Board (IASB) standards, effective 1 January 2026. The proposal mandates updates to CPC Technical Pronouncements, including changes to IFRS 9 and IFRS 7, and adjustments to carbon credits and emission allowances guidance. No regulatory impact assessment was conducted due to exemptions under Decree 10.411/20.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-11-07•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM), with the Ibero-American Institute of Securities Markets and Spain's National Securities Market Commission, hosted an event in São Paulo on sustainable finance taxonomies and their role in capital mobilization for sustainable development. The event introduced new Taxonomy Interoperability Principles developed with international organizations. CVM officials emphasized the Brazilian Sustainable Taxonomy and CVM Resolution 193, supporting voluntary sustainability reporting based on ISSB standards.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the removal of Ahmad Hussain Al-Sharaa and Anas Hasan Khattab from the UK ISIL (Da'esh) and Al-Qaida sanctions list, effective in the Bailiwick of Guernsey. This follows the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. Further details on asset freezes and related issues are available on the States of Guernsey sanctions webpage.
EnforcementSanctions & designationsSanctions list update
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2025-11-07•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia reported international reserves of USD123.8 billion as of 31 October 2025. These reserves are sufficient to finance 4.8 months of imports and cover 0.9 times the total short-term external debt, which is primarily due to resident banks' foreign currency operations and multinational companies' overseas borrowings.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Albania•Albania Financial Services Authority
The Albania Financial Services Authority reported on a meeting with the International Monetary Fund, discussing non-bank financial markets, supervisory policies, and regulatory reforms. Key performance indicators showed significant growth in insurance premiums, investment funds, and private pension funds in 2025. The Authority noted progress in aligning with EU financial services regulations and highlighted the upcoming Financial Sector Assessment Program in 2026.
Policy & regulationCooperationOther
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2025-11-07•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia renewed its Memorandum of Understanding with Maybank International Holdings to enhance cooperation for Cambodia's capital market growth. The updated MoU focuses on capacity building, regulatory expertise sharing, and technical collaboration.
Policy & regulationCooperationCross-border cooperationMarket development
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2025-11-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan co-hosted the Nakhchivan Regional Bank Forum to discuss regional banking development and financial inclusion. Deputy Chairman Toghrul Aliyev highlighted growth in the national credit portfolio and regulatory measures for macroeconomic stability. The forum also addressed the economic outlook and banking infrastructure expansion in Nakhchivan, discussing sector development and cooperation opportunities.
Policy & regulationCooperationOther
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2025-11-07•Global•Network for Greening the Financial System
The Network for Greening the Financial System (NGFS) released explanatory notes to enhance clarity and usability of its long-term climate scenarios, addressing user feedback for greater transparency. The notes provide detailed analyses of the NetZero 2050, Current Policies, and Fragmented World scenarios, and include insights on energy investments and physical risks, utilizing the updated Climate Impact Explorer.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-11-07•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said officials from its Superintendency of Banks attended an international seminar in Colombia on combating money laundering and transnational crime. The Paraguayan delegation presented the country’s anti money laundering and terrorism financing policies and progress as part of GAFILAT’s intensified follow-up after the latest mutual evaluation.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-11-07•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation announced Dataswyft as the winner of the Global vLEI Hackathon for its solution using the verifiable Legal Entity Identifier to enhance MSME financing, while AEOTrade (Beijing) Technology Co., Ltd. was runner-up with its blockchain-integrated model for securing electronic bills of lading.
OtherSME financing
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2025-11-07•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning about the website https://hugosway.com, operated by Hugo's Way, which lacks authorization under the Virtual Asset Service Providers Act, 2024, and the Securities Act, 2007. The company was dissolved as of 1 April 2025 and is no longer a legal entity. The FSA advises due diligence before engaging with entities and disclaims liability for interactions with the site.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-07•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission will lead the sixth nationwide Investor Protection Week from 8 to 14 November, focusing on investor education to enhance financial decision-making and protection against scams. Activities include a Run for Financial Literacy and events at the SEC headquarters in Makati City, with participation from government and private-sector partners. This initiative aligns with the International Organization of Securities Commissions’ World Investor Week.
Financial literacy & educationConsumer and investor protectionFinancial literacy and education
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2025-11-07•Global•IOSCO
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions released reports on financial market infrastructures' management of business risks and losses. The assessment reveals serious concerns about liquid net assets funded by equity and deficiencies in recovery and wind-down planning. Proposed guidance aims to enhance risk management by FMIs and relevant authorities.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-11-07•Russia•Central Bank of Russia
The Central Bank of Russia concluded its regular assessment of the Mir payment system, determining it largely adheres to the Bank's risk management recommendations for payment systems.
SupervisionReviews, inspections & stress testsPayments and payment systemsRisk management
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2025-11-07•Poland•Central Bank of Poland
The Central Bank of Poland reported its official reserve assets at EUR 228.0bn (USD 264.0bn) as of the end of October 2025, marking an increase of EUR 4.7bn and USD 1.5bn from the previous month. Reserve management focuses on safety and liquidity, with investments primarily in Treasury securities, non-government debt securities, global equity funds, and short-term deposits at highly rated banks.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission has mandated Samchai Steel Industries Public Company Limited to rectify and audit its 2024 and Q2 2025 financial statements due to inventory accounting issues and sales below cost. The special audit revealed non-compliance with financial reporting standards, affecting inventory records and cost accuracy. SAM must disclose the revised statements and rectification report via the Stock Exchange of Thailand’s SETLink by 8 December 2025.
SupervisionInterventionsAccounting and financial reportingAuditing
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2025-11-07•Iceland•Central Bank of Iceland
The Central Bank of Iceland has started publishing constant maturity interest rates based on Icelandic Treasury bond yields, offering daily benchmarks for three, five, and ten-year maturities on both indexed and nominal bonds. These rates, available by 11:00 each business day, include a daily par yield curve rate and zero-coupon rates, using a new methodology aligned with international practices.
Data & statisticsFinancial and market indicators
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2025-11-07•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation announced Dataswyft as the winner of the Global vLEI Hackathon for its solution using verifiable Legal Entity Identifier (vLEI) to enhance MSME financing, with AEOTrade (Beijing) Technology Co., Ltd. as runner-up for its blockchain-integrated model. Over 110 global submissions showcased vLEI's potential to improve identity verification and trust in cross-border trade.
OtherSME financing
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2025-11-07•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation announced Dataswyft as the winner of the Global vLEI Hackathon for its solution using verifiable Legal Entity Identifier (vLEI) to enhance MSME financing, while AEO Trade (Beijing) Technology Co., Ltd. was the runner-up for integrating vLEI with blockchain to secure electronic bills of lading. GLEIF received over 110 submissions, highlighting vLEI's potential to streamline cross-border workflows.
Policy & regulationImplementation, projects & pilots
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2025-11-07•United Kingdom•HM Treasury
The Payments Vision Delivery Committee, chaired by HM Treasury, released a Strategy for Future Retail Payments Infrastructure to advance UK retail payments under the National Payments Vision. It outlines five strategic outcomes, emphasizing account-to-account payments at point of sale, enhanced cross-border interoperability, and robust fraud protection. A multi-year programme will be led by the Bank of England's Retail Payments Infrastructure Board, with industry collaboration for implementation and oversight.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-11-07•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority will review Bankgirocentralen BGC AB's compliance with Sweden’s security protection regulatory framework. The investigation is part of the authority’s 2025 focus on ensuring banks and financial firms can operate securely in uncertain environments. The review emphasizes the Security Protection Act's requirements for security protection agreements to safeguard security-sensitive operations.
SupervisionReviews, inspections & stress testsOperational risk and resilience
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2025-11-07•Canada•New Brunswick Financial & Consumer Services Commission
The Financial and Consumer Services Commission of New Brunswick issued a warning that Enterprise2u is not registered to deal or advise in securities or derivatives in the province. Investors are advised to avoid unregistered firms due to potential lack of protections and to use the Commission's resources for guidance on crypto asset trading platforms.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-07•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary stressed at the Hungarian-Polish Central Bank Conference that reducing inflation expectations and maintaining price stability are crucial for Central and Eastern European countries. He advocated for a stability-oriented monetary policy to achieve sustainable inflation targets and highlighted the role of forint stability in disinflation. Varga also emphasized cooperation and knowledge-sharing between Hungarian and Polish central banks to reinforce stability and support growth.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developmentsDomestic cooperation
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2025-11-07•Global•Network for Greening the Financial System
The Network for Greening the Financial System released explanatory notes to enhance the clarity and usability of its long-term climate scenarios. These notes address user feedback for increased transparency on the assumptions and narratives of the NGFS scenarios, aiming to support deeper understanding and broader application.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-11-07•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation updated its Consumer Compliance Examination Manual, altering the examination frequency schedule for FDIC-supervised financial institutions. Institutions are now placed on a 66–78 month, 54–66 month, or 24–36 month cycle based on asset size, with mid-point risk analyses for those on longer cycles. More frequent supervision applies to institutions with adverse ratings.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-11-07•United States•Federal Reserve Board
Federal Reserve Governor Stephen I. Miran warned that rapid growth in USD-denominated stablecoins could lead to a "global stablecoin glut," impacting monetary policy by increasing demand for U.S. Treasury bills and other liquid USD assets. The GENIUS Act establishes a regulatory framework requiring U.S. issuers to hold one-to-one reserves in safe USD assets. Miran highlighted potential effects on interest rates and the U.S. current account deficit, while questioning stablecoin impacts on monetary policy transmission and global dollar usage.
Monetary policyMonetary policy assessments & outlooksStablecoins
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2025-11-07•United States•Federal Reserve Board
Federal Reserve Vice Chair Philip N. Jefferson discussed AI's uncertain impact on employment, inflation, and monetary policy, noting productivity gains and potential job displacement. He highlighted moderate U.S. economic growth and a cooling labor market, with inflation similar to last year. Jefferson supported a recent 25 basis point rate cut, emphasizing a data-dependent approach amid limited statistics due to the government shutdown.
Monetary policyMonetary policy assessments & outlooksArtificial intelligence
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2025-11-07•Albania•Bank of Albania
The Bank of Albania, with the Reinventing Bretton Woods Committee, will host a high-level scientific conference on 11 November 2025 for its 100th anniversary. Central bank governors, international financial institution representatives, and academics will discuss challenges for small open economies and emerging markets amid geopolitical shifts and financial innovation. Key topics include global trade openness, monetary policy, digital finance, and the euro area's role in a multipolar economic order.
Other
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2025-11-07•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets issued Board decisions on capital markets authorisations and supervisory actions, including approving DAAC-AUTO LLC’s voluntary takeover offer and registering share capital increases for CARIERA ȘAPTEBANI JSC and DACIA-LV JSC. The Board set the 2026 fee schedule, rejected a suspension request from ÎM CIA TRANSELIT SA, and dismissed SRL INCONARM’s complaint. It also provided insurance compliance recommendations and initiated an investigation into a cryptocurrency launch in Moldova.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-07•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) settled with William Brent Meikle and Hit TV Brands Inc., requiring nearly CAD 4.2 million for fraud, misrepresentations, and illegal securities distributions. The misconduct involved misuse of investor funds and unauthorized securities distributions between February 2018 and December 2019. Meikle and Hit TV face permanent market bans, with a limited exception for Meikle to trade in his own account through a registered dealer.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-11-07•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has issued regulations detailing how General Fund Managers and other registered entities must submit information for supervisory purposes under General Rule No. 526. The regulations introduce new reporting requirements, covering business volume, customer numbers, equity, and crypto risk-weighted assets. An FAQ and related documents are available on the CMF website.
Policy & regulationRules & requirementsRegulatory reporting
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2025-11-07•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has approved the registration of platinum and palladium futures and options by the Guangzhou Futures Exchange. It will oversee the exchange's preparatory work to ensure a smooth launch and stable operation.
Policy & regulationRules & requirementsLicence approval
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2025-11-07•Argentina•Argentina Securities Commission (CNV)
At the First NOA Capital Markets Symposium, CNV Vice-President Sonia Salvatierra outlined plans to modernize capital markets rules and expand participation. Key initiatives include tokenization, regulation of virtual asset service providers, an Automatic Public Offering framework, and simplifying regulations. The program aims to streamline issuance processes, enhance SME financing access, and implement a CNV-approved financial education program.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial literacy and education
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2025-11-07•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) president, Roberto E. Silva, highlighted the CNV's pioneering regulatory work on asset tokenisation and Publicly Offered Securities and Assets (PSAVs) at the Latin American Bitcoin & Blockchain Conference. Silva emphasized the CNV's efforts to modernize capital markets by developing a framework for PSAV regulation, balancing innovation with investor protection.
Policy & regulationRules & requirementsFintech and insurtechBlockchain and distributed ledger technology
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2025-11-07•Global•Bank for International Settlements - Committee on Payments and Market Infrastructures
The Bank for International Settlements’ Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions released a report proposing supplemental guidance to the Principles for Financial Market Infrastructures on managing business risks and losses, including recovery and wind-down scenarios. The report clarifies the scope of these risks, provides guidance on governance and transparency, and invites comments by 6 February 2026.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-11-07•Global•Bank for International Settlements - Committee on Payments and Market Infrastructures
The Bank for International Settlements' Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions issued a Level 3 assessment revealing significant issues in how 34 financial market infrastructures across 27 jurisdictions implement Principle 15 of the Principles for Financial Market Infrastructures on general business risk. The review highlights weaknesses in determining liquid net assets funded by equity, recovery and wind-down plans, and the management of general business risk, with a consultative report published for further guidance.
Policy & regulationPeer reviews and country evaluationsMarket infrastructure
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2025-11-07•Global•Bank for International Settlements - Committee on Payments and Market Infrastructures
The Bank for International Settlements Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions released a report highlighting serious concerns in financial market infrastructures' management of general business risks and liquid net assets funded by equity. A consultative report proposes guidance to address these issues, with comments due by 6 February 2026.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-11-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has amended its framework for payment intermediary services, enhancing e-wallet requirements, safety controls, and information-sharing rules. Key changes include increased transaction limits, mandatory biometric verification, and expanded provider responsibilities for customer information accuracy and reporting. Providers can choose settlement measures, such as a dedicated guarantee account, to ensure service capacity.
Policy & regulationRules & requirementsPayments and payment systems
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2025-11-07•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance participated in the XII Insurance Conference in Buenos Aires, focusing on the transition of the insurance business amid disinflation. General Coordination Manager Valeria Hirschhorn discussed the regulator’s perspective on market challenges and opportunities. The event facilitated technical dialogue among industry stakeholders to enhance sector cooperation and market transparency.
Policy & regulationCooperationOther
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2025-11-07•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs highlighted Chairman Tim Scott's leadership on economic opportunity, financial literacy, and housing affordability, noting recent achievements including a comprehensive housing bill and the ROAD to Housing legislation. The committee also established a digital assets subcommittee and co-sponsored a law for the first U.S. regulatory framework for payment stablecoins.
Policy & regulationReform agendas & prioritiesLeadership change and appointments
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2025-11-07•Global•Financial Action Task Force
The Financial Action Task Force (FATF) and GIABA held their annual Joint Experts Meeting in Accra, Ghana, with over 270 experts from more than 40 countries discussing money laundering and terrorist financing risks. Topics included fraud, terrorist financing, and trade-based financial crimes, with input from 73 private-sector participants to enhance public-private partnerships. Insights will inform FATF's ongoing work for the February 2026 Plenary and GIABA's project on trade-based financial crimes due November 2026.
Policy & regulationCooperation
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2025-11-07•Europe•Council of Europe
The Council of Europe’s MONEYVAL published its 2024 annual report, noting progress in implementing international anti-money laundering and counter-terrorist financing standards, but identifying significant shortcomings in asset confiscation and financial intelligence use. The report highlights 193 technical compliance upgrades and nine downgrades, mainly related to new product and technology risks. MONEYVAL completed its 5th round assessments and launched the 6th round in 2024, with Latvia's report adopted in June 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2025-11-07•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced the UN Security Council has removed Anas Hasan Khattab and Ahmed Al-Sharaa from the ISIL and Al-Qaida sanctions list, lifting their asset freeze. The sanctions regime is enforced in the Isle of Man through the ISIL and Al-Qaida (UN Sanctions) (EU Exit) Regulations 2019 and the Sanctions (Implementation of UK Sanctions) Regulations 2024. The Treasury emphasized firms must freeze assets immediately if a person matches the UK Sanctions List and report suspected breaches to the Financial Intelligence Unit.
Policy & regulationGuidance & interpretationSanctions list update
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2025-11-07•Moldova•National Bank of Moldova
The National Bank of Moldova reported a decrease in official reserve assets to EUR 5,141.43 million as of 31 October 2025, down EUR 22.26 million from the previous month. The decline was primarily due to foreign exchange sales interventions and external public debt service payments, partially offset by exchange rate gains and reserve management income. Net foreign assets also fell to EUR 5,108.66 million, marking a EUR 95.54 million decrease since the end of 2024.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•United Arab Emirates•Dubai Virtual Assets Regulatory Authority
The Dubai Virtual Assets Regulatory Authority (VARA) issued a circular to Virtual Asset Service Providers (VASPs) clarifying expectations under the Compliance and Risk Management Rulebook on AML/CFT Business Risk Assessments (BRA). Following inspections revealing deficiencies, VASPs must maintain a documented, data-driven BRA addressing risks like money laundering and terrorist financing, incorporating UAE National Risk Assessment results. Compliance is mandatory, with VARA planning a thematic review in Q2 2026, and non-compliance may lead to reassessment and potential enforcement actions.
Policy & regulationGuidance & interpretationAML and CFT
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2025-11-07•United Arab Emirates•Dubai Virtual Assets Regulatory Authority
The Dubai Virtual Assets Regulatory Authority (VARA) issued a circular to Virtual Asset Service Providers (VASPs) clarifying expectations for AML/CFT Business Risk Assessments (BRAs) under Part III Rule III.D of the Compliance and Risk Management Rulebook. VASPs must maintain a documented, data-driven BRA with quarterly reviews and updates for material changes, addressing deficiencies found in recent inspections. The circular outlines minimum BRA features, including coverage of ML/TF/PF risks, alignment with UAE assessments, and integration into AML/CFT policies, with immediate compliance mandatory.
Policy & regulationGuidance & interpretationAML and CFT
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2025-11-06•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia shared remarks by Financial Superintendent César Ferrari at a seminar in Beijing, emphasizing China's rapid financial development and regulatory practices. Ferrari highlighted the impact of digitization on banks, insurers, and financial markets, and the implementation of Open Finance and digital supervision by Chinese authorities.
Policy & regulationCooperationCross-border cooperation
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2025-11-06•Global•Egmont Group
The Egmont Group attended the International Financial Crime Tech Forum 2025 in Kuala Lumpur. Executive Secretary Jérôme Beaumont discussed emerging financial crime risks, technology's impact on compliance, and public-private partnerships' role in enhancing compliance frameworks. Beaumont emphasized technology-driven threats to Financial Intelligence Units and advocated for better intelligence sharing and resource allocation.
Policy & regulationCooperationAML and CFTArtificial intelligence
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2025-11-06•Global•Egmont Group
The Egmont Group participated in the Forum of Financial Intelligence Units of GIABA Member States Annual Retreat in Accra, focusing on regional cooperation in West Africa. Vice-Chair Mohammed Shahid Ahmed emphasized the importance of strategic foresight, ethical leadership, and regional harmonization in combating money laundering, terrorist financing, and proliferation financing.
Policy & regulationCooperationCross-border cooperationAML and CFT
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2025-11-06•Global•Egmont Group
The Egmont Group committed to combating environmental crime using financial intelligence and cross-border cooperation among Financial Intelligence Units (FIUs) at the United for Wildlife Global Summit. Chair Elzbieta Franków-Jaskiewicz highlighted FIUs' role in tracing illicit financial flows, supporting asset recovery, and uncovering corruption linked to illegal resource exploitation, with collaboration from INTERPOL, UNODC, and the Financial Action Task Force.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-06•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission registered Republic Holding AD's subsequent issue of 5,320,086 ordinary voting shares for trading on a regulated market. The shares are dematerialized, freely transferable, and have a nominal value of BGN 1 each.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-06•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia released the first Boliviano Digital report, outlining a roadmap for developing a wholesale central bank digital currency (CBDC) by 2026. The plan includes technical dialogues with stakeholders, a survey of potential CBDC participants, and developing functional prototypes to test technological and operational aspects. This initiative follows a 2024 board resolution supporting electronic payment channels and aligns with similar efforts by other Latin American central banks.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-11-06•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission attended the OECD's International Network on Financial Education meeting in Paris and was invited to join. The INFE enhances financial literacy and inclusion through shared practices and tools. The invitation recognizes the CMC's efforts in financial education and consumer protection in Angola, promoting collaboration with financial supervisors and educational ministries.
Policy & regulationCooperationFinancial literacy and education
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2025-11-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has licensed KFIC Financial Brokerage Company as a qualified securities broker on the Amman Stock Exchange, effective 03 November 2025. This follows the company's application under Resolution No. (116) of 2025 and aligns with Law No. (7) of 2010 and its Executive Bylaws. The firm's existing licence was amended to reflect this change.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-06•Israel•Bank of Israel
The Bank of Israel reported foreign exchange reserves of USD 231,954 million at the end of October 2025, a USD 74 million increase from September, representing 41.3% of GDP. The rise was primarily due to a USD 607 million revaluation, partially offset by USD 550 million in government foreign exchange activity.
Data & statisticsBalance of payments and other external statistics
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2025-11-06•Europe•European Securities and Markets Authority
The European Securities and Markets Authority released a report assessing total costs for investors in Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs) in the European Economic Area. Distribution costs constitute 48% of total UCITS costs, with inducements significantly impacting ongoing costs. The findings aim to inform the ongoing debate on retail participation.
ResearchFinancial and market indicatorsSupervisory data
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2025-11-06•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendency of the Securities Market reported companies raised USD 1,022.9 million through primary public offerings of debt instruments in the first 10 months of 2025, a 15% increase from 2024. The SMV noted 57 placements by 30 companies, with demand nearly double the amount offered, and significant issuance acceleration in October 2025. Most placements were denominated in soles, with maturities ranging from 180 days to 10 years.
Data & statisticsFinancial and market indicators
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2025-11-06•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission attended the Africa Financial Summit 2025 in Casablanca. Executive Administrator Vasco Januário discussed capital markets' role in facilitating exits from private equity and venture capital investments. He highlighted Angola's venture capital industry, with about USD 65 million in assets under management, as a key investment channel, noting improving IPO market conditions. The Commission emphasized its commitment to enhancing institutional presence and experience-sharing in international forums.
Institutional developmentCooperation & capacity buildingMarket development
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2025-11-06•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority released its 2024 overview of institutions for occupational retirement provision, noting a 7% increase in total assets to EUR 48.9bn and a rise in the average coverage level to 123%. Membership grew by 5% to 2.66 million, with investments primarily in equity and bond funds yielding an 8.6% return. The FSMA attributed the improved coverage ratio to positive asset returns and provided additional financial statements and sector statistics online.
Data & statistics
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2025-11-06•Italy•Bank of Italy
The Bank of Italy released the testimony of Fabrizio Balassone, Deputy Head of the Directorate General for Economics, Statistics and Research, at the parliamentary hearing on Italy’s 2026-2028 Budget Law. The testimony was presented before a joint session of the Senate’s 5th Committee and the Chamber of Deputies’ V Committee.
Policy & regulationOther
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2025-11-06•Italy•Bank of Italy
The Bank of Italy released findings from its 2025 Business Outlook Survey, focusing on industrial and service firms.
Data & statisticsEconomic data and developments
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2025-11-06•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced the High Court dismissed an appeal by Cigno Australia director Mark Swanepoel and BSF Solutions director Brenton Harrison, affirming the Full Federal Court's decision on their unlicensed credit activity and charging prohibited fees. The High Court ordered the appellants to pay ASIC's costs, with over 100,000 consumers affected, many vulnerable. The case returns to Justice Jackman on 7 April 2026 for a penalty hearing.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-11-06•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine National Commission on Securities and Stock Market has approved draft regulations for public discussion, setting requirements for rating agencies, including foreign entities, operating in Ukraine. The drafts outline the authorisation process, documentation, and rules for ongoing activities and reporting, aligning with the Law of Ukraine "On Rating".
Policy & regulationRules & requirementsCredit ratings
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2025-11-06•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has updated its list of dubious investment projects, adding Bulenox and Taxtrade, bringing the total to 454 projects flagged for potential fraud or legal violations. The Commission highlights warning signs such as lack of licences, transparency, and risk disclosure.
SupervisionAlertsSanctions list update
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2025-11-06•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets reported a significant rise in retail investment in crypto-based products, with one in ten investors participating in 2025, up from one in 100 in 2022. The AFM emphasized the high risk and volatility of these products and advised consumers to invest cautiously. Despite the increase in crypto investments, traditional investment funds and shares remain the most popular choices among investors.
Financial literacy & educationFintech and insurtechConsumer and investor protection
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2025-11-06•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority announced final decisions against 24 investors and a real estate company for market manipulation and unlicensed securities activities. Twenty-three investors were fined SAR 1 million, ordered to disgorge SAR 1.21 million, and banned from trading for a year. Bandar bin Abdulrahman bin Hamdan Alghamdi and his company were fined SAR 2.7 million for unlicensed activities. Affected parties may seek compensation or contract rescission.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-11-06•Ireland•Central Bank of Ireland
The Central Bank of Ireland fined Coinbase Europe Limited EUR 21,464,734 for breaches of anti-money laundering and counter-terrorism financing obligations under the Criminal Justice Act 2010. The enforcement action followed failures in Coinbase Europe's transaction monitoring system, affecting over 30 million transactions totaling more than EUR 176 billion. The settlement, reached under the Central Bank’s Administrative Sanctions Procedure, awaits High Court confirmation.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-11-06•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) reviewed personal advice on self-managed super funds (SMSFs), finding widespread non-compliance with the best interests duty and potential client detriment. Out of 100 advice files, 62 failed to demonstrate compliance, and 27 raised significant concerns about client detriment. ASIC is considering regulatory responses, including enforcement actions, due to these issues in an SMSF sector valued at approximately AUD 1 trillion.
SupervisionReviews, inspections & stress tests
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2025-11-06•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan released a report from its Annuity Working Group, outlining recommendations and an implementation roadmap to enhance the retirement income market and post-retirement financial security. The report highlights gaps in the current retirement landscape and suggests measures to expand access to lifetime income solutions. SECP seeks feedback from pension industry stakeholders, insurance providers, policy experts, and the public on the report's proposals.
Policy & regulationReform agendas & priorities
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2025-11-06•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan announced guidelines allowing minors under 18 to open trading accounts in Pakistan's capital markets through guardians. The guidelines detail the process, compliance safeguards, and transition to regular accounts at age 18, including tax implications.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-11-06•Indonesia•Bank Indonesia
Bank of Indonesia's Q3 2025 Residential Property Price Survey shows limited growth, with the Residential Property Price Index rising 0.84% year on year, down from 0.90% in the previous quarter. Sales conditions were mixed, with small residential properties seeing positive sales, while medium and large units remained sluggish. Developers relied heavily on non-bank financing, while consumers predominantly used bank-disbursed housing loans.
Data & statistics
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2025-11-06•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) signed a Memorandum of Understanding with Mashreq Bank Pakistan Limited for same-day corporate bank account openings via digital integration. This connects SECP’s eZfile system with Mashreq Bank’s platform for real-time corporate data verification, enhancing speed, transparency, and security. It is part of SECP’s “Paper to Platform” transformation and aligns with its standardized Board Resolution framework for consistent banking processes.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-11-06•Europe•European Banking Authority
The European Banking Authority's follow-up peer review on EU authorities' supervision of credit valuation adjustment (CVA) risk exclusions for transactions with non-financial counterparties in third countries found that authorities generally assess CVA risk adequately, with improvements since the 2023 review. However, only one authority upgraded its compliance with the Exclusion Regulatory Technical Standard to "fully applied", while others remained "largely applied".
SupervisionPeer reviews and country evaluationsCredit risk
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2025-11-06•Europe•European Banking Authority
The European Banking Authority updated the overview of EU authorities' disclosures on implementing the revised Capital Requirements Directive (CRD V) and Investment Firms Directive (IFD). This aims to enhance transparency and comparability of supervisory practices across Member States without increasing reporting burdens. It includes national laws, supervisory methodologies, and aggregate data on implementation and penalties.
Data & statisticsRegulatory reporting
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2025-11-06•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority reported ongoing progress on its Embedded Supervision pilot, which tests how technology-enabled, real-time data infrastructures and machine-readable policy logic within blockchain systems could support continuous regulatory oversight of decentralised financial markets. The proof-of-concept with Chainlink Labs, Apex Group Ltd., Hacken and Blueprint will inform policy considerations for decentralised finance under Bermuda’s Digital Asset Business Act, with further pilots potentially covering on-chain reporting, tokenised instruments and AI-driven analytics.
SupervisionInnovation & testingSupervision process and methodologies
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2025-11-06•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has initiated criminal proceedings against Chan Hoi Shing and Li Po Ching for allegedly orchestrating a fraudulent scheme involving illegal short selling of shares in 28 Hong Kong-listed companies, violating section 300 of the Securities and Futures Ordinance. The defendants are accused of falsely representing shareholdings to facilitate illegal short selling, generating approximately HKD 11 million in profit. Both were granted bail with conditions, and the case is adjourned to 6 February 2026.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-11-06•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance, through Minister Kyriakos Pierrakakis, emphasized community dialogue in reforms and criticized the Hellenic Post restructuring for lacking consultation. Pierrakakis supported restructuring due to market pressures and highlighted ELTA's improved market position. He discussed the Recovery Fund's impact, the National Development Programme, and the need for private investment, while outlining planned regulatory and fiscal measures to address housing and inflation issues.
Policy & regulationReform agendas & prioritiesOther
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2025-11-06•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance proposed a draft tax reform bill to reduce tax burdens for families with children, younger workers, and smaller communities. Measures include linking income tax rates to the number of children, significant tax reductions for workers under 30, and exemptions for self-employed new mothers. The bill abolishes the ENFIA property tax in small settlements and introduces housing-related tax incentives to increase home availability.
Policy & regulationReform agendas & prioritiesOther
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2025-11-06•Sweden•Riksbank
Sweden's Riksbank confirmed banks and credit institutions met the interest-free deposit requirement, depositing about SEK 40 billion by the 31 October deadline. Effective January 2025, this measure aims to bridge the gap between the Riksbank's target and current equity levels, reducing interest costs and enhancing earnings. The Riksbank will annually assess the necessity and size of future deposit requirements based on equity changes.
Policy & regulationImplementation, projects & pilotsLiquidity risk
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2025-11-06•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation will launch a new ePub product for IFRS Accounting Standards, replacing PDFs and reducing reliance on bound volumes. The ePub format will feature interactive note-taking, annotations, mobile-optimized viewing, offline access, and improved search capabilities. By 2026, all major IFRS Accounting Standards publications will be available as ePubs, with bound volumes continuing only for Annotated publications.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-11-06•Global•International Financial Reporting Standards Foundation
The IFRS Foundation’s Trustees reaffirmed their focus on delivering financially material information through IFRS Accounting and Sustainability Disclosure Standards in a two-year transformation. They reviewed cost-savings and funding strategies, prioritizing the International Accounting Standards Board and International Sustainability Standards Board. Upcoming steps include a 2026 consultation on board diversity amendments and concurrent agenda consultations in 2027.
Policy & regulationReform agendas & prioritiesAccounting and financial reporting
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2025-11-06•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding scams involving a fraudulent website and phishing emails impersonating The Bank of East Asia and DBS Bank (Hong Kong). The HKMA emphasized that banks will not request sensitive information via SMS, email, or phone and advised affected individuals to contact their bank and report to the Hong Kong Police.
SupervisionAlertsFraud and scams
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2025-11-06•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT and Chile’s UAF conducted a training in Santiago on the FATF’s 40 Recommendations to enhance anti-money laundering and counter-terrorist financing. Held from 13 to 17 October, it included 44 representatives from 21 Chilean institutions, such as the Central Bank and Financial Market Commission. Spanish experts and the GAFILAT Executive Secretariat facilitated the course.
Policy & regulationImplementation, projects & pilotsAML and CFTCapacity building
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2025-11-06•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released a Global Insurance Market Report highlighting how natural catastrophe insurance protection gaps threaten financial stability, especially in emerging markets. The report links uninsured disaster losses to increased risks for the real economy and financial system, noting these gaps can shift risk onto banks and disrupt sectors like agriculture and housing. IAIS plans to work with members to address these gaps through improved data collection, global collaboration, and guidance for policymakers.
ResearchNature-related riskFinancial stability and systemic risk
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2025-11-06•Belgium•National Bank of Belgium
The National Bank of Belgium's research shows Belgium generates many new firms but struggles to scale them into fast-growing businesses, limiting job creation compared to neighbors. Weak scale-up outcomes are due to global forces favoring "superstar" firms and local issues like a tightly regulated labor market and high wage costs. It suggests supporting growing firms by easing hiring risks, improving access to growth finance, and enhancing management and export capabilities.
ResearchMarket development
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2025-11-06•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority is consulting on proposed regulatory fee updates for 2026/27, including a 2.9% increase aligned with September 2025 CPI inflation. The consultation also addresses sector-specific changes, fee rebalancing for designated non-financial businesses and professions, and consolidating fee regulations into a single order. Additionally, it proposes a mechanism for future fee adjustments based on CPI inflation.
Policy & regulationRules & requirements
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2025-11-06•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
Governor Jasmina Selimovic of the Central Bank of Bosnia and Herzegovina outlined priorities on inclusive and sustainable finance at the MICROBALKANS25 conference, focusing on gender-disaggregated financial data and digitalisation initiatives. She emphasized microcredit's role for rural areas and women entrepreneurs, noting banks hold 87.7% of financial assets while microcredit accounts for 3.4%. The central bank is developing a Gender Policy and participates in networks for sustainable finance and greening the financial system.
Policy & regulationReform agendas & prioritiesESGFinancial inclusion
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2025-11-06•Spain•Bank of Spain
The Bank of Spain will launch a pilot programme on 24 November, opening an in-person citizen guidance point at its Valencia premises to provide general orientation on personal finance and Bank procedures. This initiative, part of the Strategic Plan 2030, aims to enhance outreach and financial education, complementing existing support services. The pilot's results will be evaluated in summer 2026 to determine potential expansion to other branches.
Policy & regulationImplementation, projects & pilotsConsumer and investor protectionFinancial literacy and education
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2025-11-06•Global•Bank for International Settlements - Financial Stability Institute
The Bank for International Settlements’ Financial Stability Institute published an FSI Insights paper on how authorities use loss-absorbing capacity requirements to support the resolvability of systemic banks that are not global systemically important banks, highlighting the lack of an internationally aligned standard and materially different jurisdictional approaches. The paper compares frameworks in six jurisdictions, contrasting uniform capital-based and bank-specific calibration methods, and underscores trade-offs between tailoring and simplicity, as well as between broad scope and reliance on specific instrument types, including minimum long-term debt and statutory “Flac” instruments.
Research
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2025-11-06•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) attended a regional meeting, where Director-Superintendent Ricardo Pena highlighted sector advances and plans for modernizing oversight. Achievements include a new tax regime and automatic enrolment, with future work on the sanctions framework, solvency model, and ESG criteria. Pena noted PREVIC is monitoring 213 pension-related bills in the National Congress, mostly seen as regressive for workers.
Policy & regulationReform agendas & prioritiesOther
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2025-11-06•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has initiated High Court civil proceedings against Franco Belgiorno-Nettis for alleged trade-based market manipulation of Steel and Tube Holdings Limited shares, involving 66 causes of action under the Financial Markets Conduct Act 2013. The proceedings seek declarations of contravention, civil pecuniary penalties, and costs, following an investigation prompted by ASB's report to NZ RegCo.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-11-06•South Africa•South African Reserve Bank
The South African Reserve Bank's Working Paper analyzes climate risk and policy impacts on international capital flows in Southern African Development Community economies. It finds increased climate risk and extensive policy adoption correlate with reduced cross-border capital movements, affecting inflows and outflows across direct, portfolio, and other investments. Using data from 2000 to 2022, the paper aims to provoke discussion and feedback.
ResearchClimate risk and sustainable finance
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2025-11-06•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released the 2024 Systemic Risk Dialogue proceedings, co-organized with the International Monetary Fund and Bank Indonesia. It highlights discussions on non-bank finance and digitalisation in Asia, emphasizing growing complexity and interlinkages in financial markets. Governor Eli M. Remolona, Jr. noted generative artificial intelligence's role in transforming non-bank financial markets and consumer demands.
Policy & regulationCooperationFintech and insurtechFinancial stability and systemic risk
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2025-11-06•South Korea•South Korea Financial Supervisory Service
South Korea's Financial Supervisory Service reported a 23.9% year-on-year increase in asset-backed securities (ABS) issuance to KRW13.3 trillion in Q3 2025, driven by a 36.2% rise in loan-based securitisations. Mortgage-backed securities issuance reached KRW5.1 trillion, while real estate project financing ABS rose to KRW1.2 trillion. The total ABS outstanding balance was KRW243.5 trillion at the end of September 2025, a 5.9% drop from the previous year.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-06•Oman•Central Bank of Oman
The Central Bank of Oman held its inaugural meeting with CEOs of banks in the Islamic banking sector to establish a strategic dialogue aligned with Oman Vision 2040. Discussions focused on enhancing competitiveness, Sharia governance, product innovation, and national talent development. The Governor emphasized the need for robust capital, liquidity, risk management, and alignment with national priorities, noting Islamic banking's growth to 20% of total banking assets by June 2025.
Policy & regulationCooperationOther
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2025-11-06•Serbia•National Bank of Serbia
Governor Jorgovanka Tabakovic of the National Bank of Serbia stressed the importance of strong monetary, fiscal, and macroprudential frameworks in mitigating inflation and maintaining financial stability amid global shocks at the IMF’s Regional Economic Outlook for Europe. She highlighted IMF recommendations on resource efficiency, market integration, and trade policy, noting that reducing trade barriers could offset US tariffs on EU exports. Tabakovic also underscored Serbia's fiscal resilience, citing increased foreign exchange reserves and a declining public debt trajectory.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-11-06•Europe•European Central Bank
At the ECB Conference on Money Markets 2025, ECB Executive Board member Isabel Schnabel discussed the Eurosystem’s balance sheet reduction as "quantitative normalisation," highlighting strong bank liquidity. She outlined a future balance sheet responsive to banks' liquidity demand, emphasizing collateralised lending and refinancing operations. Schnabel noted ECB staff scenario analysis suggests a demand for excess reserves between EUR 600 billion and EUR 2.2 trillion, advocating for structural operations to mitigate risks.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-11-06•Serbia•National Bank of Serbia
The National Bank of Serbia hosted the IMF's Regional Economic Outlook for Europe, highlighting sluggish growth and necessary reforms for productivity and stability. Governor Jorgovanka Tabaković emphasized Serbia's economic resilience, citing record foreign exchange reserves, a stable dinar, and a robust banking sector. The IMF's assessment noted Serbia's fiscal and external buffers, moderate public debt, and supportive monetary policy.
ResearchEconomic data and developments
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2025-11-06•Europe•European Central Bank
The European Central Bank published an Occasional Paper analyzing the effects of standard monetary policy rate shocks on euro area output and prices, using harmonized simulations across European System of Central Banks models. The research highlights differences in model responses due to monetary policy rule specifications and Phillips curve slopes, and examines the "forward guidance puzzle." Findings show varied responses across countries and sectors, with stronger inflation responses and dampened output effects during high-inflation periods.
Research
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2025-11-06•Europe•European Central Bank
The European Central Bank's working paper analyzes monetary and fiscal policy responses to an inflationary cost-push shock in a monetary union using euro area model simulations. It finds that aggressive rate hikes lead to faster disinflation but result in greater economic activity losses and increased public debt, while fiscal support can cushion consumption with limited impact on inflation. The study highlights that fiscal measures increase the debt-to-GDP ratio, with variations depending on the type of fiscal intervention.
Research