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2025-11-04•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities & Commodities Authority, with ADGM Academy and Sandooq Al Watan, launched the third Financial Market Pioneers Program for 33 university students and early-career professionals. It includes modules on investment, risk management, derivatives, Islamic finance, sustainable finance, and regulation, plus internships and mentorships. This initiative aims to develop national talent and enhance the UAE's economic diversification and competitiveness.
Financial literacy & educationFinancial literacy and education
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2025-11-04•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed LLC RSM Tajikistan to conduct audits of credit institutions, invalidating its previous banking-system audit licence from June 2020.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-11-04•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) released a consultation paper on the proposed IFSCA (Pension Fund) Regulations, 2025, to establish a regulatory framework for launching pension schemes from GIFT-IFSC. The proposals aim to develop a forex pension framework for non-resident Indians, persons of Indian origin, and foreign expatriates, featuring voluntary participation, flexible contributions, diverse investment options, and integration with medical policies.
Policy & regulationRules & requirements
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2025-11-04•South Korea•South Korea Financial Supervisory Service
South Korea's Financial Supervisory Service reported a 3.0% rise in domestic financial holding companies' assets to KRW3,867.5 trillion and a 9.9% increase in net income to KRW15.4428 trillion for H1 2025. Banking assets and net income led growth, while substandard loans rose to 1.04% and the provision coverage ratio dropped to 104.3%. The FSS urged FHCs to monitor subsidiaries' financial soundness.
SupervisionRisk monitoring & watch pointsFinancial and market indicatorsSupervisory data
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2025-11-04•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation via insuranceniriass.eu and temporanea.assicurpoint.it, instructing Italian providers to block access. This raises the total number of blocked websites to 307 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers and intermediaries through its registers before making payments.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-11-04•Europe•European Central Bank
The European Central Bank released a Working Paper introducing a multi-country framework for compiling distributional national accounts, integrating household income and wealth data for euro area countries. Utilizing microdata from the Household Finance and Consumption Survey, it addresses micro-macro coverage gaps, revealing a skewed distribution of wealth and income, with capital-income components more unequally distributed than labor income. Robustness checks confirm the consistency of results, aligning broadly with Eurostat's distributional income accounts.
ResearchOther
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2025-11-04•Europe•European Central Bank
The European Central Bank released the disaggregated financial statement of the Eurosystem as of 3 October 2025, detailing assets and liabilities by national central bank and the European Central Bank, with total assets and liabilities at EUR 16,209,218 million. Key figures include EUR 4,168,246 million in euro-denominated securities of euro area residents on the asset side and EUR 1,591,429 million in banknotes in circulation on the liability side. Consolidation adjustments were EUR -241,642 million.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-11-04•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission announced cabinet approval of amendments to the Enforcement Decree under the Special Act on the Prevention of Loss Caused by Telecommunications-based Financial Fraud. The changes expand customer due diligence requirements to include specialized credit finance and consumer credit businesses with assets of KRW50 billion or more, aiming to curb vishing and related fraud. Non-compliance may result in fines up to KRW10 million and compensation obligations for victims.
Policy & regulationRules & requirementsFraud and scams
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2025-11-04•Europe•European Systemic Risk Board
The European Systemic Risk Board published a report on the credit default swaps market, warning that imperfections in the single-name segment can impede price discovery and limit the reliability of CDS spreads for assessing creditworthiness. It highlights low trading volumes, high counterparty concentration, incomplete post-trade transparency and data gaps, particularly for European sovereigns and Global Systemically Important Banks, and calls for better data quality, transparency and cross-jurisdictional coordination through a medium-term policy roadmap.
Policy & regulationReform agendas & prioritiesMarket infrastructureMarket development
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2025-11-04•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported a 5% decrease in banknote issuance and a 33% decrease in coin issuance in Q3 2025 compared to Q2. Coin returns dropped 44% from the previous quarter, while banknote returns increased by 7%. ATM cash withdrawals and deposits both fell by 7% year-on-year, with Estonia maintaining 662 ATMs and 700 retail cash-withdrawal points.
Data & statisticsCurrency and cash management
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2025-11-04•Poland•Ministry of Finance (Poland)
Poland's Ministry of Finance announced the Council of Ministers' adoption of a draft bill amending the legal framework for cooperative banks to streamline rules and reduce administrative burdens. Key changes include simplifying association agreement amendments, removing certain reporting obligations to the Polish Financial Supervision Authority, and empowering entities for faster support. The draft also introduces a presidents’ assembly as a new association body and clarifies accounting policies for protection-system aid funds.
Policy & regulationRules & requirementsOther
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2025-11-04•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has extended the comment period for its public consultation on proposed amendments to CVM Resolution 77, which regulates trading by public companies in their own shares. The changes aim to enhance the framework for listed companies and are part of the 2025 Regulatory Agenda.
Policy & regulationOtherCorporate governance
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2025-11-04•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, announced a São Paulo event on 7 November 2025 to discuss sustainable finance taxonomies and present new Taxonomy Interoperability Principles. It will feature presentations and panels with regulators and experts on cross-jurisdiction consistency and interoperable classification systems for sustainable capital allocation. The forum precedes COP30 in Belém, Pará.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-04•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has launched a financial literacy initiative by adding a Financial Literacy Resources page to its website, enhancing educational materials for the local community. This follows a partnership with EDUCFI, the French National Financial Literacy Strategy, and aims to provide clear, unbiased resources on topics like household debt and inflation.
Financial literacy & educationFinancial literacy and education
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2025-11-04•Albania•Albania Financial Services Authority
The Albania Financial Services Authority will host the International Association of Insurance Supervisors Annual Conference in Tirana from 10 to 14 November 2025, with the main event on 13 November. The programme includes IAIS technical committee meetings and the European Insurance and Occupational Pensions Authority Forum, focusing on European integration implications for candidate countries. AMF CEO Mimoza Kaçi emphasized the event's role in enhancing international supervisory cooperation and supporting Albania's reform agenda.
Policy & regulationCooperationOther
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2025-11-04•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan conducted AML/CFT training sessions for financial institutions, emphasizing customer due diligence and institutional risk assessment. Online sessions on 29–30 October targeted various financial entities, while an in-person session on 31 October focused on currency exchange offices, covering legislative obligations and risk assessment methodologies.
Policy & regulationGuidance & interpretationAML and CFTSupervision process and methodologies
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2025-11-04•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held a two-day "Sustainable Finance" training for the banking sector, facilitated by Ernst & Young, to enhance green transition capabilities. The program covered climate-related financial disclosures, including IFRS S1 and S2 standards, and methodologies for calculating banks' financed emissions. Executive Director Shahin Mahmudzadə emphasized the importance of human capital development and collaboration with partners.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-11-04•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay hosted the 43rd Meeting of Presidents of South American Central Banks in Asuncion, with delegates from seven countries discussing cryptoasset regulation, climate-related monetary policy challenges, payment systems and asset tokenization. Participants emphasized technical cooperation, safe financial innovation and macroeconomic stability. They also agreed to meet next in Chile in 2026 and Uruguay in 2027.
Policy & regulationCooperation
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2025-11-04•Bahrain•Central Bank of Bahrain
Governor Khalid Humaidan of the Central Bank of Bahrain outlined the Bank's digitalisation agenda at the Gateway Gulf Forum 2025, focusing on instant payments, payments infrastructure, and central bank digital currency (CBDC) use cases. He emphasized the financial sector's role as a major GDP contributor and foreign investment recipient. The agenda aims to enhance interbank payments, support the digital economy, and develop supervisory technology, balancing innovation with financial stability.
Policy & regulationReform agendas & prioritiesFintech and insurtechSupervision process and methodologies
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2025-11-04•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain announced a partnership between The BENEFIT Company and NPCI International Payments Limited to connect Bahrain and India's instant payment systems. This collaboration will link Bahrain’s Electronic Fund Transfer System, including the Fawri+ service, with India’s Unified Payments Interface (UPI), facilitating instant payments and transfers for residents in both countries.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-11-04•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation named the London Stock Exchange Group the winner of its Global vLEI Hackathon in the Digital Asset and Financial Infrastructures category for using the Legal Entity Identifier and verifiable LEI in automated compliance and trusted digital transactions. Clearstream was the runner-up for using the vLEI as a secure login standard for its ClearstreamXact platform, enhancing digital identity and operational efficiency.
Policy & regulationImplementation, projects & pilotsRegtech and suptech
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2025-11-04•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) warned about allegedly unauthorised activities by Bitfinity Ltd under the Virtual Asset Service Providers Act, 2024, linked to bitexbit.com. Bitfinity Ltd, registered as an international business company, lacks authorisation to offer virtual asset services. The FSA advises consumers to verify the licensing status of virtual asset service providers and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-04•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) warned about unauthorised virtual asset services linked to altify.app, allegedly operated by Revix International Limited. Revix is registered under the International Business Companies Act, 2016, but lacks authorisation under the Virtual Asset Service Providers Act, 2024. The FSA advises consumers to verify virtual asset service providers' licensing and report suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-04•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) released a report on the single-name credit default swaps (CDS) market, highlighting its illiquidity and concentration among few intermediaries. Prepared for the Financial Stability Board, the report evaluates the benefits and trade-offs of enhancing post-trade transparency, such as reduced information asymmetries and improved price efficiency. IOSCO will continue to monitor the market and consider further actions.
Policy & regulationInternational standards & recommendationsMarket developmentMarket infrastructure
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2025-11-04•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji, with the Ministry of Environment and Climate Change, the United Nations Environment Programme, and NDC Partnership, launched Fiji’s Sustainable Finance Roadmap to align the financial system with national climate and Sustainable Development Goals. It focuses on enhancing ESG risk disclosure, directing capital to sustainable projects, and fostering climate resilience through financial inclusion.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-11-04•Kyrgyzstan•National Bank of the Kyrgyz Republic
The Talas regional office of the National Bank of the Kyrgyz Republic fined a Kyrgyz citizen KGS 17,500 for unlicensed cash foreign currency exchange operations.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-11-04•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has amended rules for ICO portals, easing the investment knowledge test burden while mandating investor suitability assessments for digital token investments. Non-institutional and non-high net worth investors must complete a knowledge test, with suitability assessments refreshed biennially. The changes align with existing securities and digital asset business operator requirements, effective 16 November 2025.
Policy & regulationRules & requirementsFintech and insurtech
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2025-11-04•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority has approved AXA's prospectus for an employee share issuance, involving a capital increase of up to 58,951,965 new shares. The offering targets employees of various AXA entities in Morocco, with subscription prices set at EUR 31.66 and EUR 37.04. The prospectus is supplemented by AXA's registration document filed with the French Financial Markets Authority and other key documents.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-04•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved Air Liquide SA's prospectus for a capital increase through the issuance of up to 850,000 new shares, exclusively for its employees. The offer in Morocco targets Air Liquide Maroc employees, with a subscription price of EUR 137.89 (MAD 1,481.45) per share. The prospectus includes the group international shareholding plan and related documents, available on the issuer, BMCI, and AMMC websites.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-04•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation announced London Stock Exchange Group as the winner of the Global vLEI Hackathon for demonstrating how Legal Entity Identifier and verifiable LEI can enhance compliance and transaction trust in digital asset and financial infrastructures. Clearstream was the runner-up for its proposal to use vLEI as a secure login standard for its ClearstreamXact platform.
Policy & regulationImplementation, projects & pilotsRegtech and suptech
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2025-11-04•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation announced the London Stock Exchange Group as the winner of its Global vLEI Hackathon for demonstrating how the Legal Entity Identifier and verifiable LEI can enhance automated compliance and digital transactions. Clearstream was the runner-up for using vLEI as a secure login standard to improve operational efficiency on its ClearstreamXact platform.
OtherRegtech and suptech
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2025-11-04•Canada•New Brunswick Financial & Consumer Services Commission
The Financial and Consumer Services Commission of New Brunswick's survey highlights gender, disability, and newcomer status as barriers to financial confidence, with online activity increasing risks. It reveals disparities in financial knowledge, comprehension issues with products, and rising losses to scams, especially cryptocurrency. These insights will guide the Commission's financial literacy and consumer protection efforts.
ResearchFinancial inclusion
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2025-11-04•Canada•Payments Canada
Payments Canada outlined the Government of Canada's Budget 2025 priorities, focusing on modernizing payments in safety, access, and speed. Key developments include the Bank of Canada's supervision of payment service providers under the Retail Payments Activities Act, expanded Payments Canada membership eligibility, and the forthcoming Real-Time Rail for instant transfers. The budget also addresses open banking, stablecoin regulation, and transparency in cross-border transfer fees.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-11-04•Canada•Payments Canada
Payments Canada appointed Derek Rego as Chief Information Officer and Shawn Van Raay as Chief Technology Operations Officer, effective 1 December 2025, to support the modernization of Canada's national payment infrastructure. Rego will lead technology strategy and roadmap development, while Van Raay will manage operational performance and security for systems including Lynx, ACSS, and the upcoming Real-Time Rail.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-11-04•Chile•Central Bank of Chile
The Central Bank of Chile released its Survey of Price Determinants and Expectations, highlighting stable pricing and sales conditions with slight cost increases and declining profit margins. Costs and the USD exchange rate are exerting more upward pressure on prices than in previous quarters. Median inflation expectations are 4% over 12 months and 3.5% over 24 months.
Data & statisticsEconomic data and developments
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2025-11-04•United States•Federal Reserve Board
The Federal Reserve Board has terminated enforcement actions involving written agreements with Riverbend Financial Corporation, Northwest Bancorporation of Illinois, Inc., and First Citizens Bank of Butte. The agreements, dated between 2011 and 2024, were concluded in late October 2025.
EnforcementInvestigations & enforcement actionsOther
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2025-11-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority signed a memorandum of understanding with Lebanon’s Insurance Control Commission to enhance cooperation in insurance regulation and supervision. The agreement includes coordination on anti-money laundering, cross-border supervision, and promoting investment in the insurance sector. It also covers training, technical cooperation, and collaboration on actuarial science and takaful insurance frameworks.
SupervisionCooperationCross-border cooperation
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2025-11-04•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision fined AS LHV Group EUR 405,000 for misreporting consolidated risk-weighted assets for market risk, understating capital requirements for foreign exchange exposures. The breach, over eight quarters from Q2 2022 to Q1 2024, involved incorrect inclusion of an intragroup GBP exposure and was deemed 'moderately severe' due to serious negligence in risk management. AS LHV Group may appeal the decision to the Court of Justice of the European Union.
EnforcementInvestigations & enforcement actionsCapital adequacyMarket risk and volatility
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2025-11-04•Egypt•Central Bank of Egypt
The Central Bank of Egypt's Financial Stability Report for FY 2024 and Q1 2025 highlights a rise in the financial stability index due to improved macroeconomic indicators and introduces the CBE's macroprudential policy framework. The report notes strong foreign currency financing capacity, Net International Reserves of USD 47.8 billion, and robust banking soundness with a capital adequacy ratio of 18.3%. Stress tests indicate resilience across banking and non-banking sectors under adverse scenarios.
Policy & regulationGuidance & interpretation
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2025-11-04•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) plans to open China's capital markets and enhance cooperation with Hong Kong by easing cross-border investment, expanding market connectivity, and strengthening supervision. Measures include optimizing the Qualified Foreign Investor regime, expanding Stock Connect securities, and supporting Hong Kong's renminbi initiatives. The CSRC also aims for deeper supervisory cooperation with the Hong Kong Securities and Futures Commission to monitor cross-border capital flows and prevent risk transmission.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-11-04•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde refuted a newspaper article on a bank's disposal, emphasizing that acquisition assessments are based on an objective legal framework, not automatic. Decision timing depends on involved parties and process complexity. It criticized publishing confidential information without context and reaffirmed its commitment to a risk-based review process and independence from external pressures.
SupervisionSupervision approach, priorities & toolkitLicensing and supervisory fees
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2025-11-04•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued a warning about fraud attempts using its name and logo via social networks, fake websites, and phishing emails. The CNV clarified it does not request payments or personal data through email or contact the public via WhatsApp, social media, or phone. Official communications are only made through institutional channels and published on its website.
SupervisionAlertsFraud and scams
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2025-11-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has mandated credit institutions and regional branches to implement relief measures for those affected by Typhoons 10, 11, and 12, and flooding in Central Vietnam. Measures include debt restructuring, interest and fee reductions, and preferential credit to aid recovery. Institutions must assess affected customers' operations and apply support under existing rules, with regional branches coordinating local efforts.
Policy & regulationGuidance & interpretationOther
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2025-11-04•South Korea•Bank of Korea
The Bank of Korea and the Korea Institute of Finance hosted a conference on developing the short-term financial market and promoting the Korea Overnight Financing Rate (KOFR). Discussions addressed policy tasks for establishing KOFR as a benchmark rate, enhancing repo market stability, and the Bank of Korea's role in supporting the domestic money market through open market operations.
Policy & regulationReform agendas & prioritiesFinancial benchmarks
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2025-11-04•Global•Financial Action Task Force
The Financial Action Task Force (FATF) has released Asset Recovery Guidance and Best Practices to enhance efforts in tracing, securing, confiscating, and returning criminal proceeds. The guidance supports implementing strengthened FATF Recommendations on asset recovery, addressing low global confiscation rates. It includes over 85 case examples and techniques, emphasizing asset recovery as a policy and operational priority.
Policy & regulationGuidance & interpretation
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2025-11-04•Namibia•Namibia Financial Institutions Supervisory Authority
NAMFISA released a draft standard for approving transfers, mergers, and reorganisations of collective investment schemes (CIS). It requires consent from holders of 51% in value of participatory interests and NAMFISA's approval, with exemptions under specific conditions. NAMFISA seeks stakeholder feedback within 30 days to finalize the standard.
Policy & regulationRules & requirementsOther
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2025-11-04•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub launched Project Nadim to develop a proof of concept for cross-border information sharing on fraud patterns, enhancing collaborative financial crime detection across jurisdictions.
Policy & regulationImplementation, projects & pilots
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2025-11-04•Argentina•Central Bank of Argentina
The Central Bank of Argentina has introduced an online query tool for goods exporters, offering personalized access to information in the SECOEXPO system. Exporters can use their tax credentials on the ARCA website to check shipping permit statuses, including those certified, in breach, or nearing expiry. The tool allows customized queries and easy downloading of results based on the latest data from Customs and financial institutions.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-11-04•United States•U.S. Department of the Treasury
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned eight individuals and two entities for laundering proceeds from DPRK schemes, including cybercrime and IT worker fraud. The action updates the Specially Designated Nationals and Blocked Persons List, highlighting cryptocurrency activities linked to First Credit Bank. Property of designated persons in the U.S. is blocked, and U.S. persons are generally prohibited from transactions with them without authorization.
EnforcementSanctions & designationsNew sanctions designations
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2025-11-04•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force's third enhanced follow-up report on Venezuela upgrades two technical compliance ratings but does not assess effectiveness. Venezuela moved to Largely Compliant on national AML/CFT coordination and to Partially Compliant on targeted financial sanctions related to terrorism, bringing it to 10 of 40 FATF Recommendations rated Compliant or Largely Compliant.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2025-11-04•Denmark•National Bank of Denmark
The National Bank of Denmark reported a DKK 3.1 billion decrease in the foreign-exchange reserve to DKK 675.5 billion in October 2025, due to net foreign exchange sales and government debt repayment. From January to October 2025, the reserve increased by DKK 21.0 billion, with significant foreign-exchange purchases and government borrowing. The central government's net financing requirement was DKK 74.8 billion in October, while banks' and mortgage-credit institutes' net position rose by DKK 74.3 billion, with policy rates unchanged since June 2025.
Data & statisticsForeign exchange policy and markets
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2025-11-03•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) released a whitepaper on federated learning at Hong Kong FinTech Week, promoting cross-sector data collaboration while maintaining privacy. IA CEO Clement Cheung emphasized balancing regulation and innovation, highlighting initiatives like the Open API Framework and the Cyber Resilience Assessment Framework. Developed with ASTRI, the whitepaper outlines federated learning's role in training AI models on decentralized datasets.
Policy & regulationGuidance & interpretationFintech and insurtechArtificial intelligence
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2025-11-03•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's October 2025 Business Outlook Survey shows a positive performance outlook despite wartime disruptions, with the business activity expectations index at 50.3. Trading and construction sectors are optimistic due to infrastructure spending and seasonal factors, while industrial and services sectors face challenges from facility destruction and labour shortages. Firms anticipate raising selling prices, with mixed labour market conditions across sectors.
Data & statisticsEconomic data and developments
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2025-11-03•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission conducted a financial education session at Liceu No. 5106 in Viana, Luanda, focusing on the organization of the financial system and investment. Led by Adilson Calueio, the session aimed to enhance students' understanding of capital markets and promote financial literacy and research.
Financial literacy & educationFinancial literacy and education
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2025-11-03•Council of Financial Regulators•Council of Financial Regulators (CoFR)
New Zealand's Council of Financial Regulators (CoFR) has accepted an independent review by Sapere as a catalyst for change, committing to redesign its operations with a new model incorporating selective engagement and taskforce elements, to be detailed in December. The review highlighted CoFR's strong foundation but noted a blurred focus and outdated structures.
Institutional developmentMandate & organizational structureOther
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2025-11-03•Ukraine•National Bank of Ukraine
The National Bank of Ukraine held an online meeting with business leaders to discuss its updated macroeconomic outlook, policy stance, and gather feedback. Inflation slowed to 11.9% in September, with projections of 9.2% in 2025 and 6.6% in 2026, while the key policy rate remains at 15.5% amid inflation risks. The bank plans to maintain regular meetings and encourages participation in its Monthly Business Outlook Surveys.
Monetary policyMonetary policy assessments & outlooksOther
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2025-11-03•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission and the Office of the Attorney General held their second technical workshop under a cooperation protocol, focusing on criminal liability and financial investigation. The event aimed to enhance coordination and knowledge-sharing between market supervision and financial crime investigations. Presentations covered corporate criminal liability, compliance, and investigation techniques in money laundering cases.
SupervisionCooperationCross-border cooperation
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2025-11-03•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission, represented by Executive Administrator Edna Mascarenhas, participated in the launch of the BFAAM Emerging Income Fund in Luanda. Mascarenhas emphasized new products and partnerships in expanding investment opportunities and highlighted growth in the collective investment undertakings industry, with over 6,000 participants and AOA 1.4 billion in assets. She reaffirmed the Commission's commitment to a stable, transparent, and innovative regulatory environment to support capital market development.
Policy & regulationOtherMarket development
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2025-11-03•Council of Financial Regulators•Council of Financial Regulators (CoFR)
New Zealand's Council of Financial Regulators (CoFR) will develop a new operating model incorporating elements from an independent review by Sapere, which highlighted CoFR's strong foundation but noted areas needing clearer focus and updated structures. Details on the new model will be released with CoFR's quarterly update in early December.
Institutional developmentMandate & organizational structureOther
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2025-11-03•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission is consulting on remaking its legislative relief for providers of generic financial calculators, set to sunset on 1 April 2026. The proposal aims to preserve relief from certain Corporations Act licensing requirements while introducing minor amendments for consistency and simplification. The relief applies to calculators offering general numerical calculations about financial products, excluding superannuation.
Policy & regulationRules & requirementsOther
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2025-11-03•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's 2025 bank industry solvency stress test results show the five largest banks maintained capital ratios above minimum requirements despite severe scenarios involving geopolitical risks and a cyber-attack. Liquidity buffers were sufficient for stressed outflows, with the Reserve Bank’s overnight borrowing facility crucial in managing liquidity shocks.
SupervisionReviews, inspections & stress testsStress testingGeopolitical risk
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2025-11-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a draft Procedure on Disclosure of Information on Managers’ Transactions, aligning with EU regulations. It mandates notification to issuers and the Commission when managerial transactions in shares or debt securities exceed UAH 200,000 annually. The Procedure outlines notification requirements, closed period rules, and applies to instruments on regulated markets or traded exclusively on BTM or OTM platforms.
Policy & regulationRules & requirementsDisclosures
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2025-11-03•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's National Commission on Securities and Stock Market plans to enhance ESG reporting by aligning state requirements and reducing business burdens. The initiative includes developing a unified ESG taxonomy, issuing guidance, resuming the Scorecard project, and enhancing business education on ESG. Despite over 11,000 issuers, only about two dozen companies have submitted substantial sustainability reports, highlighting the need for improved reporting quality and uptake.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-11-03•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets issued its second update on the European Accessibility Act (EAA), urging financial firms to integrate accessibility into governance and operations. The update emphasizes the EAA's broad applicability, including consumer banking and financial e-commerce services, and highlights the need for a strategic approach. Firms must notify when they fail to meet EAA requirements or rely on exemptions, with another update anticipated in early 2026.
Policy & regulationGuidance & interpretationOther
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2025-11-03•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Arbah Capital Company's public offer of the Arbah Saudi Equity Fund. The CMA emphasized the importance of investors thoroughly reviewing the fund's terms, strategy, and risks, and consulting the fund manager if needed. The approval signifies compliance with legal requirements, not a subscription recommendation.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-03•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL conducted a week-long assessors training in Valletta, Malta, on sixth-round mutual assessment procedures and revised FATF Standards. Attended by 39 experts from 26 countries, the training aimed to enhance skills in evaluating technical compliance and effectiveness in anti-money laundering and counter-terrorism financing frameworks. Completion is necessary for experts to participate as evaluators in MONEYVAL and FATF assessments.
Policy & regulationImplementation, projects & pilotsAML and CFTSupervision process and methodologies
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2025-11-03•Indonesia•OJK
Indonesia's Financial System Stability Committee reported maintained financial stability in Q3 2025, with growth projected up to 5.2% for the year, supported by IDR 34.2 trillion in stimulus. Bank Indonesia implemented easing measures, including BI-Rate reductions and foreign exchange interventions, while the Financial Services Authority introduced regulations to enhance financing access for micro, small, and medium enterprises. The committee plans to finalize regulations under the Financial Sector Development and Strengthening Law by January 2026.
SupervisionRisk monitoring & watch pointsEconomic data and developmentsFinancial stability and systemic risk
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2025-11-03•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) inaugurated the International Islamic Finance Summit 2025 in Surabaya, emphasizing market deepening and sharia governance through the Sharia Finance Development Committee (KPKS). Priorities include product diversification, digitalization, and enhanced access for micro, small, and medium-sized enterprises. The summit also addressed regulatory alignment and policy directions across Islamic finance sectors.
Policy & regulationImplementation, projects & pilotsMarket developmentFinancial inclusion
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2025-11-03•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) revoked PT Sarana Aceh Ventura's (PT SAV) business licence for not meeting the minimum equity requirement after a business freeze. The revocation, under OJK Regulation No. 35/POJK.05/2015 and No. 25/2023, prohibits PT SAV from conducting venture capital business and mandates settling obligations and legal compliance. PT SAV must hold a general meeting of shareholders within 30 days to decide on dissolution and establish a liquidation team.
EnforcementInvestigations & enforcement actionsLicence withdrawal
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2025-11-03•Georgia•National Bank of Georgia
The National Bank of Georgia highlighted Vice Governor Nino Jeladze's remarks on the renewed partnership between TBC Leasing and the Black Sea Trade and Development Bank, backed by a EUR 10 million credit line. This facility aims to finance equipment leasing for local micro, small, and medium-sized enterprises (MSMEs) to enhance innovation, sustainability, and competitiveness. Jeladze noted the renewal reflects confidence in Georgia's financial system and underscores the importance of long-term MSME financing for economic growth.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-11-03•North Macedonia•National Bank of the Republic of North Macedonia
Governor Trajko Slaveski of the National Bank of the Republic of North Macedonia stressed the necessity of saving for sustainable growth and financial stability at a World Savings Day event. He noted household deposits reached MKD 427 billion in September 2025, highlighting increased denar-denominated and longer-term deposits as key to economic resilience. Slaveski urged regional economies to enhance domestic savings to boost growth potential and reduce reliance on external financing.
Monetary policyOtherFinancial stability and systemic risk
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2025-11-03•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has launched a mobile app, "Indicadores Económicos BCCR," providing real-time access to key economic indicators such as exchange rates, interest rates, and inflation. Available for free on Google Play and Apple's App Store, the app features dynamic visualizations that update automatically with changes in official databases.
Data & statisticsEconomic data and developments
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2025-11-03•United States•National Credit Union Administration
The National Credit Union Administration plans to distribute over USD 3.4 million in Community Development Revolving Loan Fund grants to low-income designated credit unions. Credit unions should use a pre-recorded webinar for the 2025 application process and note recent security updates to the CyberGrants portal, including multi-factor authentication. Applicants must ensure an active System for Award Management registration, requiring annual renewal.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-11-03•China•Central Bank of the Republic of China
The People's Bank of China has renewed a bilateral local-currency swap agreement with the Bank of Korea, approved by the State Council, with a swap size of CNY 400 billion and KRW 70 trillion. The five-year agreement aims to enhance monetary and financial cooperation, facilitate bilateral trade, and maintain financial market stability.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-11-03•Europe•European Banking Authority
The European Banking Authority has initiated a public consultation on draft Guidelines for authorising third-country branches under the Capital Requirements Directive. The Guidelines aim to harmonize market access and ensure consistent application across competent authorities, detailing application requirements and processes. They also require a non-opposition statement from the third-country competent authority to support the safe establishment of branches.
Policy & regulationGuidance & interpretationLicence approval
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2025-11-03•Europe•European Banking Authority
The European Banking Authority reports that as of December 2024, third-country subsidiaries held 9.8% of EU banking sector assets, with significant derivatives and loans activity. EU and EEA banks increased foreign currency exposures, mainly in US dollars. US and UK-controlled subsidiaries saw a market share decline, while China remained stable, and Japan and Switzerland increased. Unsecured wholesale and repo funding made up over 75% of foreign currency funding.
Data & statisticsFinancial and market indicatorsForeign exchange policy and markets
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2025-11-03•Norway•Department of Finance (Norway)
Norway's Department of Finance has directed the Financial Supervisory Authority of Norway to evaluate banks' deposit products and compliance with regulations. This review will address concerns about the variability and fairness of deposit interest rates and assess consumer protection adequacy within the current regulatory framework.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-11-03•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) fined First Trust Portfolios L.P. USD 10 million for excessive non-cash compensation and related misconduct in distributing its securities. Violations included exceeding Rule 2341 limits, falsifying expense records, and providing misleading reports to client firms. First Trust consented to FINRA's findings and will provide annual compliance certifications for three years.
EnforcementInvestigations & enforcement actionsSales and distribution
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2025-11-03•Laos•Bank of the Lao
The Bank of the Lao PDR and China UnionPay discussed enhancing Laos–China cross-border payments and modernizing Laos' payment systems. Key topics included improving payment connectivity, introducing modern technology, and exchanging oversight and risk management lessons. Both parties agreed to ongoing cooperation for future payment-system development.
Policy & regulationCooperationCross-border payments
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2025-11-03•Laos•Bank of the Lao
The Bank of the Lao initiated its 2025 training programme at the Banking Institute to enhance inspection skills within the banking sector. Co-chaired by Arun Boonyong and Dr Daoboualapha Bavongphet, the programme involves over 60 participants from various banking departments and focuses on party and state inspection work, including oversight of party activities and procurement processes.
Institutional developmentCooperation & capacity buildingOther
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2025-11-03•Laos•Bank of the Lao
The Bank of the Lao’s Banking Institute launched its 2025 training programme on party and state inspection work in the banking sector, co-chaired by Arun Bounyoung and Dr. Daobualapha Bavongphet. The programme, attended by over 80 participants, covered key resolutions and directives, focusing on party and state inspection processes.
Institutional developmentCooperation & capacity buildingOther
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2025-11-03•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission issued circulars for SFC-licensed virtual asset trading platforms to enhance global liquidity and expand offerings under its ASPIRe roadmap. The shared liquidity framework allows order matching across affiliated platforms with risk management safeguards. Platforms can also offer trading in virtual assets without a 12-month track record for professional investors and distribute tokenised securities and digital asset-related products.
Policy & regulationGuidance & interpretationFintech and insurtechMarket development
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2025-11-03•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission released a summary of CEO Julia Leung's discussion at Hong Kong FinTech Week 2025, focusing on strategies to sustain growth in Hong Kong's digital asset ecosystem. Additional speeches and synopses are available in the "Published resources > Speeches" section.
Other
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2025-11-03•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance outlined a tax reform bill at the Athens Tax Forum 2025, focusing on reducing tax rates and combating tax evasion. The reform aims to benefit families and young people, support regional development, and address housing pressures with measures like an intermediate rental income tax rate and enhanced leasing incentives. The bill is under parliamentary debate.
Policy & regulationReform agendas & prioritiesTax transparency and information exchange
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2025-11-03•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance and the Ministry of Climate Crisis and Civil Protection announced a 12-month suspension of compulsory enforcement measures for those affected by the June to August 2025 wildfires. This includes auctions, seizures, evictions, and personal detention orders, excluding maintenance claims, for certified individuals and businesses in specified regions. Eligibility requires enrollment in the state aid framework or housing assistance program, with the moratorium starting from the wildfire date in each area.
Policy & regulationRules & requirementsOther
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2025-11-03•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) is seeking new members for its Consumer Advisory Panel to provide consumer insights for policy and decision-making. Panel members will serve two-year terms, contributing to meetings and working groups, with selection based on expertise in FSRA-regulated sectors and diverse representation.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-11-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has launched "Fintech 2030," a strategy to advance fintech through four "DART" pillars and over 40 initiatives. Key measures include developing next-generation data and payment infrastructure, promoting responsible AI adoption, and enhancing cybersecurity with a fintech-specific certification framework. The strategy also focuses on accelerating tokenisation of real-world assets and exploring blockchain settlement with digital currencies like the e-HKD.
Policy & regulationReform agendas & prioritiesFintech and insurtechArtificial intelligenceMarket development
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2025-11-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority alerted about scams with fake websites, internet banking screens, and phishing emails targeting Livi Bank Limited and Fubon Bank (Hong Kong) Limited. HKMA stressed banks won't send SMS or emails with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-11-03•Indonesia•Ministry of Finance (Indonesia)
Indonesia's Ministry of Finance reported the financial system remained stable in Q3 2025, supporting economic growth, according to the Financial System Stability Committee's meeting. The committee emphasized vigilance against global risks and enhanced policy coordination among financial authorities. The Finance Minister noted global uncertainties, including U.S. import tariffs, and highlighted domestic growth projections above 5.5% for Q4 2025 and 5.2% for the full year.
Policy & regulationCooperationFinancial stability and systemic risk
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2025-11-03•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Sigma Accounting under section 12(1)(a) of the Designated Businesses (Registration & Oversight) Act 2015, effective 3 November 2025.
SupervisionAuthorisations & approvalsAML and CFTOther
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2025-11-03•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Jb Quirk under section 12(1)(a) of the Designated Businesses (Registration & Oversight) Act 2015, effective 3 November 2025.
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
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2025-11-03•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Cornerstone Crew Management Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 03 November 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
PwC Kazakhstan partner Alvaro Benzo assessed the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan's proposed shift to an ex-post financing model for bank regulation. This model aims to reduce reliance on government funds during financial crises while maintaining financial stability and consumer protection. Benzo noted that excessive supervisory and capital requirements could hinder banks' lending capacity.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved resolutions allowing JSC ForteBank to acquire JSC Home Credit Bank and LLP Home ITTech as subsidiaries.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Agency for Regulation and Development of the Financial Market reported banking sector growth as of 1 October 2025, with assets rising 0.6% in September to KZT 67.0 trillion and a stable NPL90+ ratio at 3.5%. Credit to the economy increased by 1.8% to KZT 38.7 trillion, driven by business and household lending, while resident deposits grew 1.5% to KZT 43.4 trillion. The sector's capital adequacy ratios remained strong at 19.1% (k1) and 20.3% (k2), with a net profit of KZT 2.1 trillion for January–September.
Data & statisticsLendingAsset quality
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 2.0% rise in insurance sector assets in September 2025, reaching KZT 3.8 trillion, with KZT 118.2 billion in premiums. Year-to-date, assets rose 20.1%, driven by insurance operations and securities investments, while liabilities and equity increased by 21.0% and 18.0%. Insurance contracts grew 11.4% from 2024, notably in life insurance and voluntary property insurance premiums.
Data & statisticsSupervision process and methodologies
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 1.6% rise in equity market capitalization to KZT 40.2 trillion as of October 1, 2025, with the KASE Index up 2.2% to 7,149.42 points. Equity trading turnover increased 9.0% to KZT 27.0 billion, driven by Air Astana and Bank CenterCredit shares, while corporate bond turnover surged 35.0% to KZT 670.8 billion. Government debt outstanding rose 2.1% to KZT 30.7 trillion, despite a 22.3% decline in government securities turnover.
Data & statisticsFinancial and market indicatorsMarket development
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2025-11-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported on its September 2025 consumer protection and supervisory activities, addressing borrower complaints, loan restructuring, and debt reduction. It reviewed 11,672 appeals, a 4.5% increase from August, and issued supervisory measures, orders, and fines totaling KZT 1.2 million. The update also highlighted progress in a mortgage refinancing programme, with significant refinancing of mortgages and foreign-currency loans.
SupervisionInterventionsLending
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2025-11-03•Qatar•Qatar Central Bank
Qatar Central Bank announced that Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani participated in the launch of Qatar Development Bank's National Funding Gate "TAM KEEN," aimed at improving companies' access to funding in Qatar.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-11-03•Mexico•CONDUSEF
Mexico's CONDUSEF reported a 7.8% increase in complaints in San Luis Potosí, totaling 4,325 from January to September 2025. The claimed amount decreased by 6.9% to MXN 107.3 million, while recoveries rose by 5.8% to MXN 21.9 million. Credit cards, special credit reports, and personal loans were the most complained-about products, with multiple banking accounting for 53.7% of complaints, primarily involving older adults and potential fraud.
Data & statisticsComplaints and dispute resolution