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2025-11-06•Europe•European Central Bank
The European Central Bank released a policy contribution by Executive Board member Philip R. Lane, examining global economic shifts affecting the euro area and outlining policy priorities. The analysis addresses export-import dynamics, current account and exchange-rate patterns, and the need for stronger asset demand amid rising public debt. Lane emphasized a "savings and investments union" with measures to boost retail participation, pension development, market integration, and equity investment, alongside ongoing work on banking union and the digital euro.
Policy & regulationReform agendas & priorities
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2025-11-06•Europe•European Central Bank
The European Central Bank's Occasional Paper analyzes country-specific Additional Credit Claims (ACC) frameworks used to expand eligible collateral for Eurosystem refinancing during non-standard periods. It highlights ACCs' evolution from the sovereign debt crisis to their pandemic peak and decline, noting concentration among few banks and limited substitution with marketable instruments. The paper also discusses changes to the Eurosystem's collateral framework, including discontinuing several ACC components and integrating temporary measures into the general framework.
ResearchCredit risk
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2025-11-06•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia announced the first pilot cohort of the Malaysian ASEAN Business Entity (MyABE) initiative, recognizing companies expanding across ASEAN. The MyABE status includes MyABE-PLC for public listed companies and MyABE-MTC for mid-tier companies, with six companies selected. The pilot aims to refine support measures, including easing skilled talent movement.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-11-06•Germany•German Bundesbank
The German Bundesbank's Financial Stability Report 2025 highlights increased risks to the financial system due to macrofinancial deterioration, geopolitical tensions, and high market valuations. Rising credit risks at German banks, fragility in commercial real estate, and high public debt in Europe are noted as threats. The Bundesbank calls for simplified bank capital requirements and improved data access to assess risks from non-bank financial intermediaries.
Research
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2025-11-06•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission updated on its motor finance survey, initiated to collect consumer feedback post-implementation of the Lending, Credit and Finance Law on 1 July 2023. The Commission is reviewing responses and plans to release findings in early 2026. Les Bourgs Hospice was chosen to receive a donation from the Commission as part of the survey initiative.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-11-06•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a counter-terrorism sanctions notice designating Kieran James Gallagher and the New Irish Republican Army under the UK Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019, enforcing a full asset freeze in Guernsey. Firms must freeze assets, report to the States of Guernsey Policy & Resources Committee, and avoid providing funds to designated persons unless permitted. A Handbook Rule 12.37 report is required upon identifying affected relationships.
EnforcementSanctions & designationsNew sanctions designations
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2025-11-06•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay clarified the legal restrictions for candidates seeking the post of Superintendent of Retirement and Pensions. It said Article 21 disqualifications are absolute and cannot be remedied, while Article 22 incompatibilities are conflict of interest situations that can be cured before appointment. Any incompatibility must be cleared before the appointee takes office and before the Executive Branch issues the appointment decree.
Policy & regulationGuidance & interpretationLeadership change and appointments
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2025-11-06•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) warned about alleged virtual asset activities by SuperDAO INC via superex.com, noting the entity lacks authorisation under the Virtual Asset Service Providers Act, 2024. SuperDAO INC was dissolved on May 7, 2025, and is no longer a legal entity in Seychelles. The FSA advises consumers to verify the licensing of virtual asset service providers and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-06•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority warned about goldux.com, allegedly run by Roomter Limited, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. Roomter Limited was incorporated under the International Business Companies Act but dissolved on 1 January 2022. The authority advises consumers to verify virtual asset service providers' licensing and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-06•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has released draft guidelines for public comment on amending corporate documents via the eAMEND Portal. The proposal reclassifies processing types, with "Simple Processing" as complex transactions requiring a seven-day processing time, and "Regular Processing" as highly technical transactions with a 21-day timeframe. The draft includes penalties for late submissions, with fines and potential nullification of digital certificates for non-compliance.
Policy & regulationRules & requirementsLicence approval
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2025-11-06•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) released eight recommendations to enhance the nature data value chain, including a blueprint for a Nature Data Public Facility (NDPF). The proposals aim to improve data quality, accessibility, and usability, and establish funding mechanisms for data collection. A fee model is suggested to subsidize small enterprises, with a Nature Data Trust proposed to oversee NDPF operations and funding.
Policy & regulationInternational standards & recommendationsNature-related risk
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2025-11-06•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency (Hanfa) highlighted Board President Ante Žigman's remarks at the Zagreb Financial Forum 2025, emphasizing balancing innovation, regulation, and financial system resilience. Žigman underscored capital market development as crucial for economic growth and detailed Hanfa's efforts to maintain stability while fostering market development through initiatives like the RoadToMarket sandbox. He also noted regulatory changes aimed at reducing burdens and enhancing the competitiveness of the Croatian capital market.
Policy & regulationReform agendas & prioritiesMarket development
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2025-11-06•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC signed an MoU with 15 agencies to combat tech-related crimes, including investment scams and money laundering via digital assets. Measures include account-blocking, information-sharing, and holding digital asset operators accountable for investor losses. Actions include suspending 32,671 mule accounts, seizing THB 228 million, and blocking access to unlicensed trading platforms.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-11-06•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revoked investment consultant Miss Napatcha Thanitniwat's approval for two years and six months due to unauthorized trading using an investor's account. The misconduct, occurring at Krungsri Pattanasin Securities, was deemed a failure to perform duties with honesty and good faith. The SEC advised investors to avoid letting others use their accounts and to verify transaction confirmations.
EnforcementSanctions & designations
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2025-11-06•Europe•European Banking Federation
The European Banking Federation responded to the European Commission’s Circular Economy Act initiative, recommending measures to enhance the bankability of circular economy projects. Key proposals include integrating circularity into EU financing tools, supporting service-based models, and improving data access. The EBF also suggests structural incentives, recycled-content standards, and a potential “Bank for Circularity” to support sustainable finance and innovation.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-11-06•Europe•European Payments Council
The European Payments Council has released documents highlighting the differences between the 2025 One-Leg Out Instant Credit Transfer and SEPA Instant Credit Transfer scheme rulebooks. These include an infographic and a detailed comparison to aid payment service providers in understanding the practical distinctions. The EPC plans to update these documents as needed.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-11-06•Canada•Department of Finance (Canada)
The Department of Finance Canada announced Budget 2025 measures to enhance competition and modernize the financial sector, including payments modernization and the Consumer-Driven Banking Act. Key proposals involve prohibiting account transfer fees, improving cheque fund access, and regulating fiat-backed stablecoin issuance. The government will consult with experts and stakeholders to further support a competitive financial sector.
Policy & regulationReform agendas & prioritiesCompetition and market structure
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2025-11-06•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) released data showing significant variability in variable mortgage rates among Sweden's largest lenders, with an average customer rate of 2.76% in September 2025. The authority noted a marked increase in mortgage-rate discounts, averaging 96 basis points compared to 54 basis points in 2020, and emphasized using average rates for consumer comparison and benchmarking.
Policy & regulationGuidance & interpretationLendingConsumer and investor protection
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2025-11-06•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority (FIN-FSA) has ordered Danko Koncar to pay supplementary amounts of a running conditional fine totaling EUR 120 million for failing to publish a public bid for shares in Afarak Group Plc. The fines cover accruals from September 2020 to September 2021, following a 2018 decision obliging Koncar to launch the bid. The decision is not legally binding and can be appealed to the Helsinki Administrative Court.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-11-06•United States•Federal Deposit Insurance Corporation
The FDIC issued guidance for regulatory relief to FDIC-supervised institutions in Alaska affected by severe weather and Typhoon Halong. It encourages banks to assist impacted borrowers and offers flexibility on supervisory requirements. Affected institutions should notify the FDIC’s San Francisco Regional Office of compliance disruptions, and the FDIC will expedite requests for temporary banking facilities in disaster areas.
Policy & regulationGuidance & interpretationOther
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2025-11-06•United States•Federal Deposit Insurance Corporation
The FDIC issued guidance for regulatory relief to institutions in the Leech Lake Indian Reservation, Minnesota, after severe weather and a federal disaster declaration. It encourages engagement with affected borrowers, favorable Community Reinvestment Act consideration, and potential reporting and operational relief. Institutions should coordinate with the FDIC’s Kansas City Regional Office for flexibility on reporting timelines and temporary facility operations.
Policy & regulationGuidance & interpretationOther
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2025-11-06•Europe•European Commission
The European Commission has initiated a consultation on the EU's prudential framework for banks' market risk under the Basel III Fundamental Review of the Trading Book (FRTB). This seeks to mitigate negative capital impacts for EU banks amid global implementation delays. A potential delegated act could apply until 2029, incorporating targeted adjustments and a "multiplier" to neutralise adverse capital effects.
Policy & regulationRules & requirementsPrudential risksMarket risk and volatility
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2025-11-06•Europe•European Commission
The European Commission has initiated antitrust proceedings to investigate potential breaches of EU competition rules by Deutsche Börse and Nasdaq in the European Economic Area market for financial derivatives. The investigation will examine possible non-competitive agreements, demand allocation, price coordination, and exchanges of sensitive information. This follows unannounced inspections in September 2024, with no set deadline for concluding the inquiry.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-11-06•United States•Federal Reserve Board
The Federal Reserve Board has executed enforcement actions against Belt Valley Bank in Montana and The Halstead Bank in Kansas for flood insurance violations, assessing civil money penalties. Both actions are dated September 12, 2025.
EnforcementInvestigations & enforcement actionsOther
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2025-11-06•Albania•Bank of Albania
Governor Gent Sejko of the Bank of Albania stressed the importance of high-quality, independent research for monetary and macroprudential policy at the 19th South-Eastern European Economic Research Workshop. He highlighted challenges like rapid technological change, demographic trends, and geopolitical uncertainties, while noting Albania's positive growth and stable financial conditions. Sejko advocated for prudent policies and reforms to address investment needs in green and digital transitions and enhance productivity and competitiveness.
ResearchEconomic data and developmentsMonetary policy decisions and developments
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2025-11-06•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved LAMDA DEVELOPMENT SA’s prospectus for a public offering and trading of up to 500,000 bonds on the Athens Stock Exchange. Additionally, it decided to delist KTIMA KOSTA LAZARIDI S.A. shares from the exchange at the company's request under Article 17(5) of Law 3371/2005.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-06•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) has suspended Balpreet Singh Bal and Fraseridge Realty Ltd. from providing real estate services and frozen accounts of related companies amid an investigation into alleged trust fund mishandling and unregistered services. A consumer alert has been issued for those with funds in the affected companies, and impacted consumers may seek support from the Special Compensation Fund. BCFSA will pursue penalties under the Real Estate Services Act, with fines up to CAD 250,000 for individuals and CAD 500,000 for corporations per contravention.
EnforcementInvestigations & enforcement actions
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2025-11-06•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) issued urgent orders suspending Balpreet Singh Bal and Fraseridge Realty Ltd from providing real estate services and freezing accounts of four brokerages amid an investigation into alleged trust fund mishandling and unregistered services. Affected consumers are advised to contact their real estate licensee, with potential support available through the Special Compensation Fund. BCFSA plans to pursue penalties for contraventions of the Real Estate Services Act, with fines up to $250,000 for individuals and $500,000 for corporations.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-06•Jersey•Jersey Financial Services Commission
The Jersey Financial Services Commission issued a fraud warning regarding iCap Law LLP, identifying it as a scam entity linked to advance fee fraud. The Commission highlighted tactics such as unsolicited offers to buy shares at inflated prices contingent on upfront payments, and advised the public to verify credentials independently. Warning signs include poor grammar, pressure tactics, and offers that seem too good to be true.
SupervisionAlertsFraud and scams
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2025-11-06•Global•Financial Stability Board
The Financial Stability Board Regional Consultative Group for Europe convened in Basel to discuss cyber risks, financial vulnerabilities, and regulatory responses to stablecoins and crypto-assets. The meeting also addressed operational preparedness for resolution tools and outlined the FSB's work priorities for 2026.
Policy & regulationCooperationCyber resilienceStablecoinsPrudential risks
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2025-11-06•China•China Banking and Insurance Regulatory Commission
Li Yunze, Party secretary and director of the China Banking and Insurance Regulatory Commission, visited Hunan and Hubei from 3 to 5 November. The visit focused on financial support for new productive forces and risk management, refining service models for advanced manufacturing, and enhancing the technology-finance system to support innovation. Li also emphasized implementing the Fourth Plenum of the 20th CPC Central Committee and strengthening branch-level supervisory capabilities.
SupervisionCooperationOther
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2025-11-06•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission President Roberto E. Silva outlined efforts to modernize Argentina's capital markets at the FinnLAC Forum 2025, emphasizing the introduction of a Tokenisation Regime and a regulatory framework for Virtual Asset Service Providers. Silva highlighted these measures as pioneering for Argentina and the region, noting the absence of such regulations two years prior.
Policy & regulationRules & requirementsFintech and insurtechStablecoinsTokenization
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2025-11-06•South Korea•Bank of Korea
The Bank of Korea released preliminary balance of payments data for September 2025, indicating a USD 13.47 billion current account surplus and a USD 12.90 billion rise in net assets on the financial account.
Data & statisticsBalance of payments and other external statistics
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2025-11-06•Bangladesh•Bangladesh Securities & Exchange Commission
The Bangladesh Securities and Exchange Commission has issued the Margin (Repeal) Rules, 2025, repealing the Margin Rules, 1999. Transitional provisions ensure continuity by treating actions under the 1999 rules as if done under the 2025 rules, while ongoing legal proceedings will continue under the 1999 rules.
Policy & regulationRules & requirementsOther
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2025-11-06•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a letter from Chairman Tim Scott and Senator Mike Rounds to Federal Reserve leaders, advocating for a holistic assessment of capital requirements in the Basel III Endgame rulemaking, anchored to pre-pandemic levels. The letter highlighted concerns that current high capital levels could lead to excessive requirements, increasing costs and limiting capital access for consumers and small businesses.
Policy & regulationReform agendas & prioritiesCapital adequacy
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2025-11-06•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) conducted an outreach programme in Raipur, Chhattisgarh, to enhance Urban Local Bodies' (ULBs) and state departments' capabilities in using securities markets for urban infrastructure financing. The programme covered municipal bonds, Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs), featuring sessions on market access and investor expectations. SEBI also met with Chhattisgarh ULB officials to discuss increasing bond market participation.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-11-06•India•Securities & Exchange Board of India
SEBI urged major social media and search platforms to enhance controls against online investment scams, aligning with the International Organization of Securities Commissions' call for increased investor protection. SEBI emphasized fast-tracking advertiser verification to ensure only SEBI-registered entities can advertise and called for distinct labelling of regulated trading apps. Additionally, SEBI reiterated investor guidance on using verified apps and payment methods.
Policy & regulationGuidance & interpretationFraud and scamsConsumer and investor protection
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2025-11-06•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi conducted training for staff on anti-money laundering and counter-terrorist financing (AML/CFT) to support a risk-based supervisory approach under the new AML/CFT law. The programme, supported by the World Bank’s PRETE project, aims to develop tools for effective AML/CFT supervision.
Institutional developmentCooperation & capacity buildingAML and CFT
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2025-11-06•Denmark•National Bank of Denmark
The National Bank of Denmark's climate transition analysis combines transition scenarios with firm-level borrowing data to assess economic and financial-sector risks. It finds that achieving a 2035 emissions target may require higher carbon taxes, with minimal impact on economic stability or the financial sector. The analysis also explores increased carbon capture subsidies, noting limited macroeconomic and banking impacts, while highlighting potential risks when combined with other shocks.
ResearchClimate risk and sustainable finance
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2025-11-06•United Kingdom•The Pensions Regulator
The Pensions Regulator confirmed the transfer of all 2,800 members of the Boxclever Group Pension Scheme into the ITV Pension Scheme, upgrading their benefits and ceasing regulatory action against ITV. This follows an anti-avoidance investigation and legal proceedings, resulting in a settlement with ITV in July 2024 and a completed transfer on 1 October 2025.
EnforcementInvestigations & enforcement actions
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2025-11-06•Isle of Man•The Treasury (Isle of Man)
The Treasury (Isle of Man) announced two new entries under the Counter Terrorism (Domestic) sanctions regime, aligning with the UK Sanctions List via the Sanctions (Implementation of UK Sanctions) Regulations 2024. The New Irish Republican Army and Kieran James Gallagher are now subject to an asset freeze, with Gallagher also facing a director disqualification. Institutions must freeze assets of designated persons, report to the Financial Intelligence Unit, and ensure compliance to avoid offences.
EnforcementSanctions & designationsSanctions list update
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2025-11-06•Moldova•National Bank of Moldova
The National Bank of Moldova issued Decision No. 51 on 5 March 2009, approving a regulation for authorizing certain foreign exchange operations. This regulation has been effective since 20 March 2009 after registration with the Ministry of Justice and publication in the Official Monitor.
Policy & regulationRules & requirementsLicensing framework and process
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2025-11-06•Barbados•Central Bank of Barbados
The Central Bank of Barbados released an educational video on credit reporting, highlighting how lenders assess past payment behaviour to determine lending decisions and interest rates. The video also warns that failing to pay can harm future borrowing capabilities.
Financial literacy & educationCredit risk
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2025-11-06•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste has granted Finance Hub, S.A. a final license to operate as a finance company in Timor-Leste. The decision followed an assessment that found the application met all licensing requirements, including on shareholder financial capacity, management qualifications and the business plan.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-06•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority's analysis shows Danish credit institutions achieved record pre-tax profits of DKK 71bn in 2023 and DKK 76bn in 2024, driven by increased core income and favorable interest-rate conditions. However, profitability growth slowed in the first half of 2025, with concerns over lending margins not adequately compensating for expected loss risk. The authority warns that if deposit demand weakens, banks may need to raise deposit rates, potentially compressing margins and affecting loan earnings.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-11-05•Italy•Bank of Italy
The Bank of Italy issued a warning about a fraudulent website that unlawfully used its name and logo to capture users' banking credentials. The site falsely claimed to relate to "Anti-Money Laundering Supervision and Regulation" and prompted users to enter credentials on a fake login page. The Bank has taken down the site, informed authorities, and advised users to avoid entering personal data on suspicious websites.
SupervisionAlertsFraud and scams
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2025-11-05•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic's 10th International Communications Seminar emphasized sustainability, with Governor Héctor Valdez Albizu highlighting climate risks and resilient economic systems. Initiatives include updates to Payment and Securities Settlement System Regulation, public consultations on financial services user protection, expanding banking access, and supporting low-cost housing. A new payments platform will enable 24/7 transfers with rapid account crediting.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-11-05•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) released liquidity indicators for Q3 2025, showing all banks exceeded the 100% regulatory minimum for Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR). Median individual LCR was 367%, consolidated LCR was 326%, individual NSFR was 148%, and consolidated NSFR was 141%. The publication adheres to CNBV's liquidity requirements framework.
SupervisionRegulatory reporting
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2025-11-05•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported its defense forces fundraising account received over UAH 34.3 billion in October 2025, with a balance exceeding UAH 33.7 billion as of 1 November 2025. Since the war's onset, the account has accumulated over UAH 120.6 billion, with significant allocations to the Ministry of Defense and other security agencies. The balance is updated daily, and donations are accepted via bank transfer or card.
Data & statisticsOther
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2025-11-05•Angola•Angola Capital Markets Commission
Elmer Serrão, Chair of Angola's Capital Markets Commission, stressed corporate governance's importance for market credibility and investor protection at the IV Angolan Corporate Governance Congress. He emphasized transparency, accountability, and corporate responsibility for financial system trust, urging stronger management roles, updated governance practices, and better internal controls. The congress discussed transparency in issuing companies, institutional investors' roles, and conflict of interest mitigation.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-11-05•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) held a Student Integrity Campaign at Universitas Andalas, stressing integrity's role in a sustainable financial sector. Audit Board Chair Sophia Wattimena noted survey findings of high ethical idealism among Gen Z and millennials and detailed OJK's governance measures, including financial reporting integrity regulations and an Anti-Bribery Management System. The event is part of OJK's Roadshow Governansi to promote integrity and good governance across Indonesia.
Financial literacy & educationCorporate governance
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2025-11-05•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's Financial Stability Council reviewed systemic risks, including a potential 50% tax on bank profits in 2026, which could hinder lending, investment, and compliance with EU and IMF commitments. The Council also advanced plans for regulating Ukraine's virtual assets market, emphasizing the need for clear regulatory roles and a transition period to establish market infrastructure.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2025-11-05•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in a seminar by the National Public Procurement Service on "Investment Opportunities in the Capital Market for Individuals," emphasizing retail investment instruments and financial education. The event highlighted the role of capital markets in mobilizing savings and financing the economy, with a focus on shares, bonds, and investment fund units.
Financial literacy & educationFinancial literacy and education
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2025-11-05•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority visited Slovenia’s Securities Market Agency to exchange regulatory experience and align with European standards. The programme focused on digital assets, the EU Digital Operational Resilience Act (DORA), and AML/CFT procedures. Opportunities for further cooperation and joint educational programmes were identified, following a recently signed memorandum of cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-11-05•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) reported a record EUR 4.22 trillion in financial instruments held by supervised intermediaries as of June 2025, driven by increases in Italian equities, government bonds, and investment funds. Despite a rise in investment services activity, profits for asset management companies and investment firms declined due to higher operating costs and lower net commissions. Gross premiums on insurance products with financial content surged, particularly unit-linked policies, while assets under management grew to EUR 1.641 trillion.
Data & statisticsAsset quality
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2025-11-05•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) has launched the second season of its financial education campaign, “Les mystères d’Investipolis,” targeting young investors. It aims to help them recognize behavioural biases like herding, confirmation bias, and illusions of control and knowledge, as part of the AMF’s strategy to enhance investor protection. The campaign includes a site for testing financial knowledge and is distributed on Instagram and TikTok.
Financial literacy & educationFinancial literacy and education
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2025-11-05•South Africa•National Treasury (South Africa)
South Africa's National Treasury appointed Lebogang Paul Mogashoa as the Pension Funds Adjudicator for a three-year term starting 8 December 2025. Mogashoa has extensive experience in pension fund law and governance, having held roles at the Eskom Pension and Provident Fund and the South African Tourism Board's pension fund manager. The Treasury also expressed gratitude to outgoing Adjudicator Muvhango Antoinette Lukhaimane for her service.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-05•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission announced that the National Working Group for benchmark reform is soliciting stakeholder feedback on a draft recommendation for a fallback rate application for the Warsaw Interbank Offered Rate (WIBOR) in interest rate derivatives.
Policy & regulationGuidance & interpretationFinancial benchmarks
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2025-11-05•Australia•Australian Securities & Investments Commission
ASIC Chair Joe Longo emphasized supervisory focus on private credit and superannuation switching misconduct, calling for clearer licensing and stronger data transparency. He urged industry standards based on U.S. and U.K. models and highlighted governance failings in a report on 28 funds. Longo suggested cooling-off periods to mitigate high-risk superannuation switches and stressed trustees' legal responsibilities even when outsourcing functions.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegulatory burden
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2025-11-05•Australia•Australian Securities & Investments Commission
ASIC Chair Joe Longo outlined a policy agenda to modernize Australia's capital markets, focusing on public-private market convergence and technology's role. Key initiatives include streamlining the IPO process, revisiting regulatory settings to reduce arbitrage, and addressing risks in the growing private credit sector. ASIC also announced a review and re-launch of its Innovation Hub and highlighted collaborations to enhance data utilization.
Policy & regulationReform agendas & prioritiesMarket developmentRegulatory burden
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2025-11-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released a roadmap to enhance Australia's capital markets, focusing on modernizing public markets and strengthening private market supervision, especially in private credit. Detailed in ASIC's response paper REP 823, it includes new listing frameworks, streamlined IPOs, and improved disclosure for public markets. For private markets, ASIC calls for enhanced supervisory tools, better data collection, and independent audits, emphasizing superannuation's role and signaling potential regulatory action if practices don't improve.
Policy & regulationReform agendas & prioritiesMarket developmentRegulatory burden
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2025-11-05•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets published a speech by Natalie Aartsen at the Bureau Kredietregistratie symposium, focusing on financial inclusion. Aartsen discussed the evolution of consumer credit risks and the impact of new products and technology on inclusion, warning of potential disparities in access and costs. The speech is available in written form, with emphasis on the spoken word.
SupervisionSupervision approach, priorities & toolkitFinancial inclusion
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2025-11-05•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released a bulletin titled “Cyprus Interest Rates in a European Context: Analysis and Comparison,” which examines existing statistics from the European Central Bank and the Central Bank of Cyprus. The bulletin aims to provide comprehensive insights into interest rates within the Cypriot banking system compared to the euro area.
Research
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2025-11-05•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendence of Banks joined a UN anti-money laundering initiative, where Superintendent Roberto Romero highlighted risks from unauthorized financial entities. Annually, about 50 such entities are detected, posing significant risks to citizens. The Superintendence regularly sanctions these entities to prevent irregular financial operations.
SupervisionAlertsAML and CFT
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2025-11-05•Ireland•Central Bank of Ireland
The Central Bank of Ireland and the South African Reserve Bank signed a Memorandum of Understanding to cooperate on mitigating climate-related financial risks and advancing cross-border payments. This aligns with the G20 agenda under South Africa’s presidency, focusing on cost, speed, access, and transparency in payments, emphasizing the central banks' roles in ensuring financial stability and enhancing financial market infrastructures.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-05•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has initiated a public consultation on draft amendments to the Companies (Further Issue of Shares) Regulations, 2020. The changes would allow listed companies to proceed with rights issues despite overdues or defaults, provided there are enhanced investor disclosures. This follows stakeholder feedback highlighting that current restrictions hinder financially distressed companies from raising necessary funds.
Policy & regulationRules & requirementsCorporate governance
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2025-11-05•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has signed memoranda of understanding with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, and Raqami Islamic Digital Bank Limited to expedite same-day corporate bank account opening for startups and newly incorporated companies. This initiative uses secure, API-based integration between the SECP’s eZfile system and the banks' platforms. The collaboration follows the SECP's introduction of a Standard Format for Board Resolutions to enhance uniformity and transparency in banking integration.
Policy & regulationCooperationFintech and insurtechFinancial inclusion
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2025-11-05•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) and Quetta Electric Supply Company Limited (QESCO) held an awareness session for large industrial and commercial electricity consumers on business formalisation and company incorporation via SECP’s digital channels. The session covered SECP’s regulatory functions, the incorporation process through the eZfile portal, and recent updates on company registration facilitation efforts. Participants discussed regulatory and procedural issues.
Policy & regulationGuidance & interpretationOther
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2025-11-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has unveiled a roadmap to enhance capital markets, focusing on capital formation and risk management in private credit and public market access. It advocates modernizing public markets with new listing frameworks and streamlined IPOs, and calls for stronger supervisory tools for private markets, like improved data collection and audits. ASIC plans to publish guidance on fund managers' legal obligations and engage with industry bodies to elevate standards, with potential for stricter regulatory action if necessary.
Policy & regulationReform agendas & prioritiesMarket developmentRegulatory burden
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2025-11-05•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica, in collaboration with the International Finance Corporation, has introduced a standardized local master agreement for bilateral financial derivatives transactions. This agreement, aligned with international standards and adapted to Costa Rican law, aims to serve as the reference contract for local counterparties, reducing legal uncertainty and supporting risk management.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-11-05•Indonesia•Bank Indonesia
Bank of Indonesia has launched the 2025/2026 cycle of the Joint Movement for Consumer Protection (GEBER PK), focusing on consumer protection in digital transactions through education and literacy to combat digital fraud. Initiatives include Protect Your Data, Protect Your Funds, CERDAS PeKA centres, and the Duta PeKA programme to enhance awareness and safer digital consumer behaviour. GEBER PK is a collaborative effort involving multiple agencies, ministries, and industry bodies, addressing the rising complexity of fraud threats.
Financial literacy & educationConsumer and investor protectionFinancial literacy and education
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2025-11-05•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority held a study day with the University of Ain Temouchent on nontraditional financing for the national economy. The discussions covered alternative funding mechanisms, capital market instruments and opportunities for startups, and the event ended with a cooperation agreement on research, training, joint activities and financial culture.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-11-05•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York's Center for Microeconomic Data reported a USD 197 billion (1%) increase in total US household debt in Q3 2025, reaching USD 18.59 trillion, with mortgage originations rising and delinquency dynamics stabilizing. Mortgage balances grew by USD 137 billion to USD 13.07 trillion, while credit card and student loan balances also increased. Overall delinquency remained high at 4.5%, with notable increases in early delinquency for credit card and student loans.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-05•Europe•European Banking Authority
The European Banking Authority issued final Guidelines on environmental scenario analysis, detailing supervisory expectations for integrating environmental risks into stress-testing frameworks and resilience analysis. These Guidelines aim to enhance banks' forward-looking assessment and management of environmental risks, supporting consistent risk management across the EU banking sector. They are based on Article 87(a)5 of the Capital Requirements Directive and Article 177(2a) of the Capital Requirements Regulation.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-11-05•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has issued a discussion paper on asset tokenisation, seeking stakeholder input on opportunities, risks and regulatory considerations for representing real-world assets on distributed ledger technology under Bermuda’s digital asset regime. The paper assesses overlaps across the Digital Asset Business Act 2018, Investment Business Act 2003, Investment Funds Act 2006 and Digital Asset Issuance Act 2020, and examines implications for tokenisation platforms, tokenised funds, insurance-linked securities and alternative assets. It also addresses permissioned versus permissionless DLT, platform-level risk concentration, embedded AML/CFT features, cyber risks and financial stability concerns.
Policy & regulationGuidance & interpretationTokenization
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2025-11-05•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released supervisory interpretations on compulsory insurance, clarifying policy drafting to ensure mandatory cover and minimum sums. Guidance includes notice periods for termination, compulsory minimum capital, and restrictions on policyholder duties. It addresses interpretations for personal accident, fire, and liability covers, emphasizing protection of injured third parties and identifying incompatible clauses in motor and condominium insurance.
Policy & regulationGuidance & interpretationOther
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2025-11-05•Portugal•Portuguese Insurance Regulator (ASF)
Portuguese Insurance Regulator (ASF) President Gabriel Bernardino stressed the need for a stable fiscal framework and simpler long-term savings and retirement products at the Seguros Summit 2025. He advocated redirecting savings from bank deposits to long-term retirement products to enhance diversification and support infrastructure and health investments. The discussion also covered financial literacy, flexible risk assessment, innovation, regulatory simplification, and protection gaps.
Policy & regulationReform agendas & prioritiesFinancial literacy and education
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2025-11-05•Laos•Bank of the Lao
The Bank of the Lao welcomed an International Monetary Fund (IMF) team to commence the 2025 Article IV macroeconomic consultation with the Lao PDR. Led by mission chief Angana Baneriji, the IMF team will engage with various stakeholders from 5 to 19 November 2025. The Bank of the Lao expressed its commitment to cooperate and support the consultations.
Policy & regulationCooperationOther
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2025-11-05•United States•National Futures Association
The National Futures Association (NFA) has permanently barred VBI Company, a former member, from reapplying for membership or principal status, and imposed a six-month ban on Peter Mark Vanden Berge, a former associated person. This enforcement action follows a complaint alleging violations of NFA Compliance Rules 2-10(a) and 2-9(a) related to pre-trade communications and supervision, which VBI and Vanden Berge settled without admitting or denying the allegations.
EnforcementInvestigations & enforcement actionsCompliance
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2025-11-05•Finland•Bank of Finland
The Bank of Finland and the Finnish Financial Supervisory Authority are hosting a seminar in Helsinki on 5–6 November 2025 to explore AI's impact on the financial sector and supervision. Discussions will focus on practical AI applications, challenges, and opportunities, emphasizing automation, skill shifts, and investment in technology and workforce development. The seminar highlights AI use cases in forecasting, risk management, and service development, stressing the importance of trust and cybersecurity.
Policy & regulationCooperationArtificial intelligence
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2025-11-05•Belize•Central Bank of Belize
The Central Bank of Belize has expanded exchange control authority for authorised dealers, allowing domestic banks to approve foreign currency transactions up to BZ$100,000 for eight additional purposes without prior approval. These purposes include advertisements, consultancy, freight charges, insurance, and more. Transactions exceeding this threshold still require Central Bank approval.
Policy & regulationRules & requirementsCross-border payments
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2025-11-05•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission published a speech by Dr. Kelvin Wong, titled “Transforming Global Challenges into Asian Growth Opportunities,” delivered at the 2025 Global Financial Leaders’ Investment Summit.
Policy & regulationOther
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2025-11-05•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has permanently banned Cheung Ngai Yi, a former Hang Seng Bank account manager, following his criminal conviction for stealing client assets. Cheung was sentenced to 30 months in prison for misappropriating HKD 1,530,500 through unauthorised ATM withdrawals and other fraudulent activities. The SFC highlighted the breach of trust and premeditated nature of his misconduct in determining the sanction.
EnforcementSanctions & designations
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2025-11-05•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission concluded the Global Financial Leaders’ Investment Summit, featuring the “Conversations with Global Investors” forum. Co-organised with the Hong Kong Monetary Authority and the Hong Kong Academy of Finance, the event gathered around 300 leaders to discuss investment opportunities, geo-economic fragmentation, and the impact of AI and digital innovation on investment practices. The summit attracted over 100 top executives from various financial sectors.
OtherMarket development
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2025-11-05•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance outlined plans to attract foreign capital by accelerating strategic partnerships and supporting cross-border mergers and acquisitions. Minister Kyriakos Pierrakakis highlighted upcoming legislation to identify and value state-linked assets and unclaimed inheritances. He emphasized Greece's investment-friendly environment and the role of energy and infrastructure in future investment prospects.
Policy & regulationReform agendas & prioritiesOther
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2025-11-05•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has dissolved the savings and credit cooperative Grupo Confía, a Level 01 cooperative, with deposits insured by the Cooperative Deposit Insurance Fund (FSDC) up to S/ 5,000 per depositor. Some member-depositors may have outstanding obligations, delaying the publication of eligible depositor lists for FSDC repayments. The dissolution is governed by Law No 30822, SBS Resolution No 5061-2008, and SBS Resolution No 03762-2025.
SupervisionInterventionsLiquidity riskPrudential risks
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2025-11-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority concluded the Global Financial Leaders’ Investment Summit, featuring the “Conversations with Global Investors” forum. The event gathered around 300 leaders to discuss geo-economic fragmentation, asset management dynamics, and the impact of AI and digital innovation on investment practices. Notable speakers included SFC Chairman Kelvin Wong, Hong Kong SAR Financial Secretary Paul Chan, and HKMA Chief Executive Eddie Yue.
OtherFintech and insurtechArtificial intelligence
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2025-11-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-11-05•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) has lifted the trading suspension of Impresa - SGPS, SA shares. This decision was based on Articles 214 and 213(2)(b) of the Securities Code following the disclosure of relevant market information.
SupervisionAuthorisations & approvalsOther
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2025-11-05•Philippines•Department of Finance (Philippines)
The Philippines Department of Finance is finalising a memorandum circular to regulate lending and financing companies by capping interest rates and fees on unsecured general-purpose loans up to PHP 20,000. The proposed caps include a maximum nominal interest rate of 6% per month and an effective interest rate of 10% per month, with penalties for noncompliance ranging from fines to permit revocation. This initiative, supervised by Finance Secretary Ralph G. Recto, aims to curb abusive practices and is empowered by Republic Act No. 11765.
Policy & regulationRules & requirementsLending
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2025-11-05•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to Iran-related sanctions, as published by the Isle of Man Treasury, Customs and Immigration Division. Regulated entities are directed to the Isle of Man Government news releases and the Treasury Division’s Sanctions and Export Control webpage for details. Subscription options for ongoing notifications include an RSS feed and email alerts from the UK Treasury’s Office of Financial Sanctions Implementation.
Policy & regulationGuidance & interpretationSanctions list update
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2025-11-05•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency announced the Mazhilis approved draft laws to update banking frameworks and amend financial market regulations. The new law aims to enhance financial stability, corporate governance, supervision, and treatment of insolvent banks. It seeks alignment with international standards by introducing proportional regulation, supporting Islamic banking, and regulating digital financial assets.
Policy & regulationRules & requirementsOther
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2025-11-05•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan hosted a delegation from the Swiss National Bank (SNB) led by Chairman Martin Schlegel to discuss cooperation on financial stability, monetary policy, and analytical capabilities. Schlegel also delivered a lecture on the SNB’s mandates and central bank digital currency (CBDC) policy, followed by discussions on its impact on the Swiss banking system and financial stability.
Policy & regulationCooperationCross-border cooperation
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2025-11-05•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Fast Track Global Trade, which is not authorised to provide financial services in South Africa. The platform is reported to offer unrealistic investment returns and charge high fees, prompting the FSCA to advise the public to verify FSCA authorisation and be wary of common investment scams.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-11-05•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Mr Daniel Karabo Tshabalala, who is soliciting funds for investment purposes without authorization. The FSCA advises caution, highlighting red flags such as unrealistic returns and social media-based offers, and urges verification of a provider's authorization status and FSP number.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-11-05•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) warned against Mr. Joash Naidoo for allegedly soliciting investment funds without authorization. Naidoo claims to offer copy trading and forex signals, falsely associating with TD Markets (Pty) Ltd. The FSCA advises verifying the authorization status of financial service providers, especially for unsolicited offers or those made via social media.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-05•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) will conduct a virtual public hearing to discuss draft regulations for mutualistic property protection operations under Complementary Law No. 213. This initiative follows extensive studies and consultations, aligning with SUSEP's strategy to enhance the National Policy for Access to Insurance.
Policy & regulationRules & requirementsOther
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2025-11-05•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) issued CNSP Resolution No. 484/2025, updating rules for universal life insurance to enhance flexibility and align with Brazil's market conditions. This replaces Resolution No. 344/2016 and clarifies that universal life insurance is not a pension or investment product, impacting tax treatment. The resolution follows extensive consultations and aligns with SUSEP’s 2023/2024 Regulatory Plan.
Policy & regulationRules & requirementsOther
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2025-11-05•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) issued CNSP Resolution No. 485/2025, setting environmental, social, and climate-related guidelines for rural insurance. Part of SUSEP's "Insurance and Ecological Transformation" initiative, it aligns with the Federal Government's Ecological Transformation Plan and rural credit regulations. It mandates compliance with ESG rules for rural insurance eligibility and takes effect 180 days post-publication.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-11-05•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has initiated Public Consultation No. 09/2025 on a draft resolution to enhance DOCS Mercado, the document system for market participants. The proposal aims to replace existing rules, expand platform functionality, and include non-supervised parties, allowing two-way communication and file uploads. Changes will maintain compatibility with current channels, with electronic petitioning as the official submission route for non-response documents.
Policy & regulationRules & requirementsRegulatory burden