The Palestine Capital Market Authority delivered an online lecture on "The Future of Financial Technology: Opportunities and Challenges," organized by Palestine Ahliya University. Dr. Bashar Abu Zaarour discussed global fintech developments and the state of the fintech sector in Palestine, emphasizing non-banking financial sectors and technological transformation challenges.
The Central Bank of Brunei Darussalam, with DST Inno Lab, the FinTech Association of Brunei Darussalam, and Brunei Innovation Lab, hosted the inaugural FinTech Hackathon: FinTellect 2025, focusing on AI-enhanced financial services. Over 30 students developed AI-driven solutions, with top projects including POStah for MSME financial insights, AImanah for bank fraud detection, and BeeLanja for youth financial literacy.
The Financial Inclusion Technical thematic groups, co-chaired by the Palestine Capital Market Authority and the Palestine Monetary Authority, reviewed progress under the National Financial Inclusion Strategy and planned next steps. Discussions included recent achievements, decisions by the National Financial Inclusion Committee, and mechanisms for implementation. A new 2026–2028 action plan is being developed to expand beneficiaries and enhance digital financial services, alongside a strategy to improve SME access to financing with the Ministry of National Economy.
The South African Reserve Bank reported a 1.6% increase in the composite leading indicator for August 2025, marking the third consecutive monthly rise. This was driven by gains in residential building plans, job advertisement growth, and export commodity prices, among others. The composite coincident indicator rose by 0.4% in July, while the lagging indicator decreased by 0.1%.
The South African Reserve Bank's September Quarterly Bulletin notes that South Africa's debt-service costs are consuming more public resources, with interest payments projected to reach ZAR 385.6 billion in fiscal 2024/25. Debt-service costs have risen from 2% of GDP in 2008/09 to over 5% in 2024/25, surpassing spending on health, economic affairs, and housing. The report also highlights a shift in the investor base for domestic government debt and outlines National Treasury's plan to introduce fiscal rules and structural reforms to manage debt.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has amended rules to exempt Unit Investment Trust Funds (UITFs) accredited as Personal Equity and Retirement Account (PERA) from non-resident ownership restrictions, allowing investment in BSP securities. This change enables broader portfolio diversification for overseas Filipinos, as nine of 13 PERA-UITFs currently exceed the previous 10 percent non-resident ownership cap.
The New York State Department of Financial Services issued cybersecurity guidance emphasizing the risks of relying on third-party service providers. It clarifies that regulated entities remain accountable for consumer protection and nonpublic information under existing DFS cybersecurity regulations. The guidance outlines best practices and internal risk management controls without introducing new obligations.
European Central Bank President Christine Lagarde, at Norges Bank’s Climate Conference, identified Europe's energy shock as a strategic vulnerability due to fossil-fuel dependence. She advocated for scaling local clean energy, noting energy inflation peaked at 37% in 2022. Significant investment, estimated at EUR 1.2 trillion annually, primarily from the private sector, is needed for renewables. Lagarde emphasized integrated EU capital markets, stable green targets, predictable carbon pricing, and reduced permitting timelines to mobilize necessary investments.
European Central Bank Executive Board member Philip R. Lane emphasized the data-dependent approach to interest rate decisions, aiming to stabilize inflation at a 2% target. He introduced a "Macro-Finance" index, noting uneven monetary policy transmission amid uncertainty and euro appreciation. Lane highlighted credit growth in larger firms, tighter standards for smaller borrowers, and the impact of economic policy uncertainty and euro appreciation on bank lending and investment.
The National Bank of Slovakia’s Bank Board approved a decree establishing statistical reporting requirements for asset management entities, aligning with European Central Bank Regulation (EU) 2024/1988. Additionally, the Bank Board approved the issuance of a EUR 2 commemorative coin for "Trenčín – European Capital of Culture 2026," to be legal tender across the euro area with a mintage of one million, set for release in January 2026.
The Monetary Authority of Singapore announced 42 finalists for the 2025 Global FinTech Hackcelerator and Singapore FinTech Festival FinTech Excellence Awards. The Hackcelerator, themed "Artificial Intelligence for Financial Services," features 18 finalists with market-ready AI solutions, with top winners receiving SGD 80,000 and potential pilot opportunities. The FinTech Excellence Awards received 155 submissions across five corporate categories and an individual award, with finalists supported by nine sponsors in the 'FinTech Gives Back' initiative.
The Vietnam State Securities Commission released a draft circular amending Circular 118/2020/TT-BTC to align with recent legislative changes and simplify procedures for public offerings, securities issuance, and share buybacks. The draft updates templates and forms to reflect Law 56/2024/QH15 and Decree 245/2025/NĐ-CP, and proposes streamlined procedures for share buyback plans and employee stock programmes. It also updates prospectus templates in line with Project 06 on population data and electronic identification.
The Ontario Securities Commission issued an investor warning for September 30 to October 21, 2025, identifying 11 companies not registered to deal or advise in securities in Ontario. The OSC advises investors to verify registration status using its online resources and maintains a warning list to highlight potential risks.
The Bank of Mozambique introduced new data submission requirements for central bank statistics, covering securities, banking operations, and the National Payment System. It also approved Climate Risk Management Guidelines mandating institutions integrate climate risks into governance and controls. These measures apply to various financial entities and include detailed reporting specifications, with penalties for non-compliance.
The Bank of Mozambique updated rules for data submission for financial statistics, approved climate risk management guidelines, and set directives for equitable financial access. The new framework expands data requirements and includes detailed transaction metrics. Climate risk guidelines mandate integration into risk management, while financial inclusion directives focus on gender-sensitive policies and women's inclusion.
The Bank of Mozambique has expanded reporting requirements for regulated entities to improve statistics on securities, banking, credit, deposits, the external sector, and the National Payment System, replacing the 2020 framework. New directives mandate credit institutions, financial companies, and microfinance operators to implement policies for equitable access to financial services, emphasizing women's financial inclusion. These directives require annual reporting and designate a "Women Champion" to oversee policy implementation, with sanctions for non-compliance.
The Croatian Financial Services Supervisory Agency released its September 2025 statistics, highlighting a 0.7% increase in mandatory pension funds' net assets to EUR 25.8bn and a rise in membership to 2,387,760. Insurance gross written premiums reached EUR 1.5bn, up 8.1% year-on-year, while the Zagreb Stock Exchange turnover surged 88.2% to EUR 104.7m. UCITS net assets grew by 2.0% to EUR 3.93bn, with net inflows of EUR 51.6m.
The Croatian Financial Services Supervisory Agency and Ministry of Finance have launched a public consultation on RoadToMarket, an educational and simulation sandbox to aid entrepreneurs in capital markets and sustainable financing. The initiative seeks strategic partners and aims to assist SMEs, start-ups, and scale-ups in preparing for IPOs or venture capital funding. The consultation will gather evidence on capital market access barriers to inform future regulatory adjustments.
The Uganda Insurance Regulatory Authority has mandated insurers, reinsurers, and health maintenance organisations to submit quarterly risk assessment reports, starting with the quarter ended 30 September 2025. This requirement is in accordance with Regulation 23(a) of the Insurance (Licensing and Governance) Regulations, 2020.
ISDA and Tokenovate have launched a taskforce within FINOS to advance the Common Domain Model (CDM) for standardized post-trade processing. The taskforce will automate interest rate resets using the 2021 ISDA Interest Rate Derivatives Definitions, aiming to create an open-source library of CDM functions to enhance interoperability and reduce manual inconsistencies.
The Thailand Securities and Exchange Commission has revoked the ICO portal approval of BiTherb Co., Ltd., effective 21 October 2025, due to non-compliance with SEC regulations. BiTherb failed to maintain required qualifications in financial position, management structure, and work systems, breaching multiple provisions. The SEC noted BiTherb has no clients or outstanding transactions.
The Thailand Securities and Exchange Commission announced a reconvened electronic bondholders’ meeting for TTCL Public Company Limited on 24 October 2025, following a failed quorum on 16 October. Bondholders will vote on exemptions from events of default and amendments to bond terms, including maturity extensions, interest rate increases, and repayment schedules. The SEC mandates bondholders’ representatives to evaluate the implications of approval or non-approval and encourages bondholders to review the information before voting.
The European Fund and Asset Management Association, European Principal Traders Association, and Protiviti urge the European Securities and Markets Authority and European Commission to address gaps in the EU consolidated tape framework for equities and ETFs. Recommendations include expanding pre-trade quote depth, adding venue identification, extending scope to exchange-traded commodities and notes, and enhancing governance with data user representation. These issues should be included in the forthcoming Savings and Investment Union legislative package.
HM Treasury will reform the UK's anti-money laundering and counter-terrorism financing supervisory regime by implementing a Single Professional Services Supervisor model through the Financial Conduct Authority (FCA). This change consolidates supervision from 23 professional body supervisors to the FCA, covering Legal, Accountancy, and Trust and Company Service Providers. The transition, subject to legislation and funding, aims to leverage the FCA's expertise and streamline oversight for about 60,000 regulated firms.
The National Bank of Hungary (MNB) announced a stability-first policy, emphasizing real estate sector resilience for competitiveness and sustainable development. Deputy Governor Zoltán Kurali outlined new measures from January 2026 to mitigate real estate market risks and bolster banking system resilience. Kurali noted housing affordability issues and structural shifts in commercial real estate, highlighting the MNB's green preferential capital requirement programme for energy-efficient investments.
The Canadian Securities Administrators (CSA) announced that reporting issuers must resume normal delivery of proxy-related materials for shareholder meetings as Canada Post has resumed mail services. The CSA's temporary relief under Coordinated Blanket Order 51-932 applied only during a complete postal service suspension. Further guidance will be provided if postal disruptions escalate.
Governor Christopher J. Waller of the Federal Reserve Board announced plans at the Payments Innovation Conference to explore a "payment account" concept. This "skinny" master account prototype would provide basic Federal Reserve payment services to eligible institutions without a full master account, offering access to payment rails while limiting risk, including no interest on balances and no daylight overdraft privileges. Federal Reserve staff will assess the concept and consult stakeholders on its potential advantages and disadvantages.
The Egypt Financial Regulatory Authority reported total financing through FRA-regulated entities reached EGP 851.4bn from January to August 2025, with significant contributions from equity issuances and financial leasing contracts. The Movable Collateral Registry recorded EGP 3.9tn in registrations, and outstanding MSME financing balances were EGP 91.4bn. In the insurance sector, gross premiums collected were EGP 77.5bn, with claims paid amounting to EGP 40.1bn.
Moldova's National Commission for Financial Markets (CNPF) adopted decisions on capital markets authorisations, appointing Nina Dosca as president of the Moldova Stock Exchange and registering bond issuances for BC “MOLDOVA-AGROINDBANK” SA and Costești Mayor’s Office. The CNPF also recorded a share capital reduction for SA “ELIRI” and rejected requests from OCN “EASY CREDIT” SRL and OCN “FLEX FINANCIAL” SRL related to previous decisions.
The Chile Financial Market Commission (CMF) has launched a second consultation on regulatory amendments to enhance the repo, securitization, loan insurance, and derivatives markets, while refining Basel III standards. Key proposals include simplifying prudential treatment for repos, removing disincentives for self-securitizations, and setting conditions for recognizing loan insurance and derivatives as credit risk mitigants. This follows feedback from an earlier consultation and aligns with IMF's 2021 Financial Sector Assessment Program recommendations.
The Chile Financial Market Commission has amended rules for State-guaranteed loans, aligning supervisory reporting for Special Guarantee Fund (FOGAES) programmes and enhancing accounting granularity for a new housing loan subsidy programme. Banks must submit specific Information Systems Manual Files to standardize reporting. Additional accounts have been added to improve the assessment of the housing loan subsidy programme under Law No. 21,748.
Gibraltar's Ministry of Finance, through Gibraltar Finance, hosted the Innovate Gibraltar event to discuss developments in distributed ledger technology and other emerging technologies. The event aimed to position Gibraltar as a hub for innovation and digital finance.
The Bank of Cape Verde is launching a "Savings Week" from 24 October to 24 November 2025 to promote financial education and saving habits. The initiative includes discussions, lectures, and outreach activities in Praia and Assomada, targeting groups like the Cape Verde Armed Forces and creative industries. A World Savings Day conference on 31 October will focus on financial education for creative industries and entrepreneurship.
The Argentina Securities Commission (CNV) announced the launch of the first open-end mutual funds for qualified investors, denominated in USD and investing entirely in foreign assets, reporting "successful results." These funds, established under Article 7 bis of Law No. 24,083 and CNV General Resolution No. 1030, allow subscriptions and redemptions via "dólar cable" and are subject to distinct requirements.
The Monetary Authority of Macao held a swearing-in ceremony for Chan Kuan I as a new administrator on its Board of Directors, with her term running from 20 October 2025 to 15 August 2026. Chan, who has over 20 years of experience at the AMCM, previously served as director of the Insurance Supervision Department.
The State Bank of Vietnam announced a National Steering Committee on Data, chaired by Prime Minister Pham Minh Chinh, to coordinate national data policy and database development. The committee, with State Bank Governor Nguyen Thi Hong as a member, will advise on data strategies and oversee implementation across ministries and sectors. The Ministry of Public Security will serve as the standing agency, managing the committee's operations.
The Argentina Superintendency of Insurance presented an overview of recent actuarial regulations and innovation initiatives at the XXVI National and Latin American Actuarial Days in Buenos Aires. The event, hosted by the Professional Council of Economic Sciences of the City of Buenos Aires, addressed artificial intelligence regulation and risks, alongside broader challenges in actuarial practice amid technological advancements.
The National Bank of Moldova released its monthly statistics for the domestic cash foreign exchange market, showing a total turnover of EUR 446.5 million in September 2025. The euro dominated with 73.6% of the market share, followed by the US dollar at 15.7%. Total turnover decreased by 11.2% from the previous month but increased by 5.8% compared to September 2024.
The National Bank of Moldova reported that in September 2025, net foreign currency demand from economic agents was 83.6% covered by net supply from individuals, up from 79.2% in August. The BNM intervened in the interbank market with net sales of EUR 4.0 million. The average leu to euro exchange rate slightly decreased from 19.5715 in August to 19.5250 in September.
The National Bank of Moldova released its September 2025 statistics on licensed banks' foreign currency assets and liabilities, and the banking system's open foreign exchange position. Total foreign currency assets were MDL 52.94 billion, liabilities at MDL 52.72 billion, and the system-wide open FX position showed long positions of MDL 424.39 million and short positions of MDL -204.07 million. The report includes balance-sheet and off-balance-sheet items, indexed to foreign exchange rates and detailed by major currencies.
The National Bank of Moldova has released a draft decision and regulation to update its supervision of the Single Central Securities Depository, replacing the 2018 framework. The proposal outlines monitoring, inspection, and enforcement procedures, including routine reporting and complex controls, with inspections at least every three years. If adopted, the regulation will repeal the existing framework and take effect upon publication in the Official Gazette.
The Central Bank of the Bahamas released the BRS IPO Calendar for November 2025/2026.
The Islamic Development Bank and the Financial Times Group hosted the Global Sukuk Summit 2025 in London, emphasizing sukuk as a mainstream asset class linking capital markets to real-economy development. The Bank highlighted its €500 million Green Sukuk listed on the London Stock Exchange, which attracted record investor demand. Keynotes included discussions on sukuk's role in diversification, financial stability, and integration into global financial frameworks.
The Islamic Development Bank (IsDB) Group celebrated the London Stock Exchange listing of its EUR 500 million Green Sukuk, issued under its 2025 Sustainable Finance Framework. This marks IsDB's second Green Sukuk, following a five-times oversubscription, with proceeds aimed at financing renewable energy, climate adaptation, and sustainable food systems in member countries. The event precedes the FT–IsDB Global Sukuk Summit, focusing on Sukuk's role in capital markets.
The Dominican Republic's Pensions Superintendency (SIPEN) engaged with the creative community at the Festival of Creativity, Art and Entertainment in Santo Domingo to promote retirement financial planning. This initiative is part of SIPEN's broader financial education strategy targeting informal work segments, utilizing on-site QR codes to connect attendees with resources and encourage future financial preparedness.
Global Finance magazine named Héctor Valdez Albizu, Governor of the Central Bank of the Dominican Republic, as one of the world's best central bank governors, awarding him an A- grade in its 2025 Central Banker Report Card. The recognition, presented during the IMF and World Bank Group Annual Meetings, highlights achievements in inflation control, financial stability, and political independence. This marks the third time Valdez Albizu has received this accolade, with previous awards in 2017 and 2024.
The Superintendency of Banks of Panama announced training sessions under a memorandum of understanding to enhance cooperation against financial crimes, including money laundering and terrorist financing. The sessions involved various stakeholders, such as the Public Ministry and the Federal Bureau of Investigation, focusing on improving information requests and analysis quality.
The Central Bank of the Republic of Kosovo summarized its participation in the 2025 IMF and World Bank Annual Meetings, highlighting financial-sector developments and reform priorities. Key activities included signing a Letter of Intent for the regional fast payments project "TIPS Clone" and discussions on financial system resilience and digital transformation. Bilateral engagements focused on EU legal harmonisation, SEPA integration, and IMF assistance in banking supervision and payments infrastructure.
The Kuwait Capital Markets Authority chaired the thirty-first GCC Committee of Heads of Capital Markets Authorities meeting, focusing on financial-market integration and regulatory alignment across Gulf markets. Discussions included dual listings, bond and sukuk trading expansion, electronic linkage of depository and clearing institutions, and investor awareness initiatives. Participants emphasized ongoing coordination to advance joint projects under the unified financial markets strategy.
The Central Bank of Montenegro has extended the domestic payment system's operating hours to include weekends and holidays, adding 118 processing days annually and reducing transaction times. This change is expected to free EUR 32 million in capital and save EUR 1.6 million in financing costs annually. The extension aligns with preparations for the TIPS Clone project, aiming for 24/7/365 real-time payments by July 2026.
The Dubai Financial Services Authority now regulates over 1,000 entities in the Dubai International Financial Centre (DIFC) and plans to evolve the DIFC funds regime to maintain its "best-in-class" status. DIFC has surpassed 8,000 active registered companies, with 289 licensed banks and capital markets companies managing approximately USD 240bn in banking assets. No timeline was provided for the funds-regime changes, aimed at supporting hedge funds, wealth and asset management, and alternative investment firms.
The Australian Securities & Investments Commission (ASIC) is consulting on extending two legislative instruments providing regulatory relief for litigation funding arrangements, conditional costs schemes, and related proof of debt arrangements until 31 March 2030. These instruments, expiring on 31 January 2026, offer relief from certain requirements under the National Consumer Credit Protection Act 2009 and the Corporations Act 2001. The extension aims to maintain certainty while the Government reviews its policy position.
De Nederlandsche Bank and the Dutch Authority for the Financial Markets warn that the Dutch financial sector's reliance on a few non-European IT service providers poses concentration and systemic disruption risks. The report highlights outsourcing critical IT functions and the geopolitical risks of such dependencies. It calls for institutions to prepare for disruptions and advocates for coordinated European solutions to reduce long-term dependence.
The Saudi Arabia Capital Markets Authority Board approved the merger of Tharawat Tuwaiq Financial Company into AlKhair Capital Saudi Arabia Company under the Capital Market Law and its Implementing Regulations.
The Dutch Authority for the Financial Markets and De Nederlandsche Bank warn that the financial sector's reliance on a few non-European IT suppliers poses concentration and systemic risks. They urge financial institutions to enhance digital resilience and work towards European digital autonomy. The report highlights the need for collaboration with IT suppliers and authorities to prepare for disruptive scenarios and emphasizes European-level solutions for long-term risk reduction.
The Dutch Authority for the Financial Markets released a report urging auditors to prioritize going concern and discontinuity in audits, emphasizing professional scepticism. It highlights increased audit reports with material uncertainty for clients that later went bankrupt, stressing early warnings. While auditors generally evaluate management’s assumptions seriously, challenges include insufficient distance from clients and a lack of holistic understanding.
The Central Bank of Uruguay's president, Guillermo Tolosa, announced at the IMF and World Bank Annual Meetings that private-sector inflation expectations have aligned with the central bank's target for the first time in 20 years, indicating strengthened monetary policy credibility. Tolosa highlighted the link between anchored expectations and increased foreign investment, lower sovereign bond spreads, and improved non-tradable inflation dynamics. Coordination with the Ministry of Economy and Finance and the Ministry of Labour and Social Security has supported wage-setting guidelines and a de-dollarisation strategy, with the draft budget projecting inflation at the target.
The Central Bank of Peru reported a 26.6% year-on-year increase in non-traditional agricultural exports, reaching USD 1.182 billion in August 2025, driven by a 48.3% rise in exported volumes. Significant growth was noted in blueberries, avocados, frozen mango, other frozen fruits, and cocoa, despite a 14.7% drop in average export prices due to increased global supply. From January to August 2025, exports totaled USD 7.138 billion, a 21.1% increase from the previous year, with cocoa products contributing 7.4% to the sector's export value growth.
Indonesia's Financial Services Authority (OJK) is collaborating with Bank Indonesia’s East Nusa Tenggara (NTT) office, regional banks, and the provincial government to enhance banking coordination and boost financing for NTT's key sectors. As of August 2025, NTT banking assets grew 4.04%, with lending up 1.52% and third-party funds increasing 5.96%. OJK aims to expand financial access and literacy, focusing on agriculture, fisheries, tourism, and MSMEs.
The Bank of Italy marked World Statistics Day by emphasizing its commitment to producing impartial, reliable, and accessible statistics in line with European and international standards. It covers areas such as the banking system, financial markets, and general government debt, disseminating data through publications and databases.
The Bank of Italy has mandated the "Verification of Payee" requirement for standard and instant bank transfers as of 9 October 2025, aimed at reducing fraud and payment errors. This system checks the correspondence between the IBAN and the beneficiary's name, providing real-time verification results. The Bank of Italy also applies these obligations when serving as a payment service provider for public administrations.
Vice Governor Ekaterine Galdava of the National Bank of Georgia attended a Danmarks Nationalbank meeting on digitalization and emerging payment forms' impact on monetary policy. The event highlighted NBG's initiatives to enhance payment system efficiency through financial technology and emphasized women's leadership in central bank governance. Female leaders from 25 countries, including major central banks, participated.
A Bermudian delegation conducted high-level meetings in London to enhance financial crime compliance and information-sharing with the UK, ahead of Bermuda’s 5th Round mutual evaluation by the Caribbean Financial Action Task Force. The delegation engaged with HM Treasury and the National Crime Agency to strengthen operational partnerships and support capacity-building commitments.
The National Credit Union Administration will hold a public hearing on its 2026–2027 staff draft budget on 6 November 2025, which will be livestreamed. The deadline for written comments has been extended to 7 November 2025.
The National Credit Union Administration (NCUA) proposed a rule to remove reputation risk from its supervisory program, aiming to eliminate subjective assessments. The rule would prevent NCUA from directing credit unions to close accounts or terminate services based on protected class or political views, promoting data-driven supervision.
Bank of Indonesia's third-quarter 2025 Banking Survey shows positive growth in new loan disbursements, with a Weighted Net Balance (WNB) of 82.33%, down from 85.22% in the previous quarter but up from 80.64% year-on-year. Lending standards tightened in the third quarter, reflected by a Lending Standards Index (LSI) of 5.78, but are expected to loosen in the fourth quarter (LSI: -5.95) amid optimism for credit growth and a favorable outlook.
The Botswana Non-Bank Financial Institutions Regulatory Authority (NBFIRA) issued a guidance note for non-bank financial institutions on conducting institutional proliferation financing risk assessments under the Financial Intelligence Act, 2022. The guidance targets AML/CFT compliance and principal officers, aligning with section 49(1)(c) of the Act, and is intended for adoption by supervised entities.
Luxembourg’s Deputy Ambassador to Lao PDR, Thomas Lammar, visited the Bank of the Lao Governor Bounkham Vorachith to discuss bilateral cooperation and technical assistance. The discussions focused on training support in banking operations, microfinance, sustainable finance, and green bonds. Both parties emphasized the importance of the Lao–Luxembourg cooperation relationship and the intention to enhance collaboration.
Bank of the Lao PDR shared insights from its delegation's participation in the 2025 IMF and World Bank Group Annual Meetings, focusing on economic developments in Lao PDR and the region. Discussions covered global economic stability, poverty reduction, and IMF projections of global growth easing to 3.2% in 2025 and 3.1% in 2026, with inflation expected to decline. The IMF advised coordinating monetary and fiscal policies, reducing deficits, managing foreign exchange, and recalibrating trade policies to address tensions.
The Bank of the Lao received a courtesy call from EU Ambassador Mark Gallagher to discuss Laos' macroeconomic conditions and central bank policies. Topics included monetary policy, foreign exchange regulations, and AML/CTF efforts, with the EU expressing support for Laos in financial services access and AML/CTF. Both parties committed to enhancing bilateral cooperation.
BOFIT's 2025–2027 forecast for Russia predicts GDP growth at or below 1% due to war-related needs, labor shortages, and reduced public spending growth. Falling oil prices are expected to decrease tax revenues, while public spending will support domestic demand, especially in war-linked sectors. BOFIT highlights increasing downside risks from macroeconomic imbalances but notes Russia can sustain current military levels and maintain living standards.
The High Court has imposed a NZD 5.06 million penalty on Christchurch Casinos Limited for breaches of New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act 2009, following a settlement with the Department of Internal Affairs. The penalty addresses compliance failures from December 2018 to December 2023, including deficiencies in account monitoring, customer due diligence, suspicious activity reporting, record keeping, and the overall AML/CFT programme. The Court acknowledged the breaches were not deliberate but criticized the casino for insufficient action upon awareness of the issues.
The Hong Kong Securities and Futures Commission (SFC) participated in a seminar to enhance regulatory compliance awareness in the digital asset sector, with a focus on digital and tokenised funds. Dr. Eric Yip, SFC’s Executive Director of Intermediaries, delivered the keynote address, highlighting risk management and industry collaboration. This engagement aligns with the SFC's "ASPIRe" roadmap's Pillar Re (Relationship).
The Hong Kong Securities and Futures Commission fined UBS AG $8 million for internal system deficiencies that misclassified professional investors over 12 years. UBS's automated process misinterpreted portfolio requirements, incorrectly classifying joint accounts and providing services meant for professional investors to non-professionals. The SFC considered the prolonged failures, prior disciplinary action, and UBS's remedial actions and cooperation in setting the sanction.
The Financial Services Regulatory Authority of Ontario released an updated proposal to license life and health managing general agents (L&H MGAs) and initiated a second consultation on the proposed L&H MGA Rule. The rule aims to enhance oversight and consumer protection by improving agent screening, training, and supervision, while reducing regulatory burden through a tiered compliance approach. This follows the Ontario government's 2024 decision to establish a separate licensing class for L&H MGAs.
The Financial Services Regulatory Authority of Ontario (FSRA) has proposed an Eligible Financial Contracts (EFC) Rule to define qualifying contracts under section 234.1 of the Credit Unions and Caisses Populaires Act, 2020. The rule aims to clarify counterparties during resolutions and align Ontario's approach with federal regulations to minimize cross-jurisdictional inconsistencies. It also supports the FSRA CEO's enhanced resolution powers in the credit union sector.
The Austrian National Bank (OeNB) announced that the Austrian Association of Cities and Towns has joined its agreement with the Austrian Association of Municipalities to ensure uninterrupted cash access across Austria, now including urban areas. The initiative, emphasizing euro cash as Austria's sole legal tender, involves deploying up to 120 new OeNB ATMs by the end of 2026 to address cash access gaps. The cities association highlighted cash's importance for individuals without bank accounts and during outages.
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to Bank of China (Hong Kong) Limited and Citibank (Hong Kong) Limited. 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.
The Portuguese Securities Commission (CMVM) has initiated its sixth public survey to evaluate the risk profiles of investors and non-investors. The survey aims to assess financial knowledge and investment tendencies, informing CMVM's financial literacy priorities.
The Reserve Bank of Australia has appointed Martin Thomas as General Counsel, effective 10 November 2025, to lead its Legal team in managing legal risk and providing strategic advice. Thomas previously served as Executive General Manager and General Counsel at Commonwealth Bank of Australia.
GAFILAT conducted a course in Brasília, Brazil, on supervising designated non-financial businesses and professions (DNFBPs) using a risk-based approach to implement FATF standards. Led by GAFILAT’s Executive Secretariat and Spanish experts, the training included exercises and case studies for over 20 officials from various supervisory authorities. Brazil’s Council for Financial Activities Control (COAF) supported the initiative.
Türkiye's Insurance and Private Pension Regulation and Supervision Agency has amended the Private Health Insurances Regulation, effective 1 January 2026, standardizing lifetime renewal guarantees and revising waiting periods and policyholder disclosure requirements. The lifetime renewal guarantee is centrally monitored, with eligibility based on three years of uninterrupted coverage and a claims-to-premium ratio below 80%. Insurers must provide complete and accurate information on coverage and terms to policyholders.
H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank, met with Goldman Sachs Group Chairman and CEO David Solomon in New York to discuss recent developments in global finance and investment.
Mexico's National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported a 28.5% increase in consumer complaints in Nayarit for January to September 2025, totaling 3,547 cases. Tepic accounted for the majority, with common issues involving credit reports, credit cards, and personal loans. The total claimed amount was MXN 101.1 million, with MXN 12.2 million recovered. Multiple banking accounted for 46.7% of complaints, notably involving older adults and potential fraud.
Mexico's National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) concluded its final regional event ahead of the 18th National Financial Education Week (SNEF) 2025, transitioning to the national opening and online programme. The prequel events focused on university students and included sessions on financial skills, ETFs, retirement plans, and cybersecurity. SNEF 2025 will be inaugurated on 23 October in Mexico City, with a digital edition running until 31 December.
The European Central Bank's Working Paper No 3139 examines how euro area households adjust beliefs after fiscal policy announcements during the cost-of-living crisis. The study finds these announcements increase perceived inflation by 0.19 percentage points and decrease perceived unemployment by 0.17 percentage points, with negligible effects on inflation expectations. A New Keynesian model suggests the signalling component of fiscal announcements largely drives these belief changes.
The European Central Bank's blog highlights research recognized by the Sveriges Riksbank Prize, emphasizing technological progress as a driver of sustained euro area growth. It notes Joel Mokyr's insights on the Industrial Revolution, technology diffusion, and skilled practitioners, alongside Aghion and Howitt's "creative destruction" framework. The post suggests increased R&D investment and streamlined regulation to boost innovation and competitiveness, acknowledging innovation-led growth's disruptive impact.
ECB Executive Board member Isabel Schnabel discussed Europe's growth challenges, citing productivity lags from missed digital opportunities, competitiveness pressures from China, and high energy costs. She proposed integration, innovation, and sovereignty, emphasizing an EU-wide legal framework for business expansion, increased venture capital, and strengthened defense and technology sectors. Schnabel also stressed de-risking supply chains and enhancing the euro's international role.
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning about Telegram groups falsely claiming affiliation with Quantum Wealth Management (Pty) Ltd and its director, Ms Alicia De Klerk. These groups, which are not authorised to provide financial services, promise unrealistic investment returns and exhibit common scam indicators. The FSCA advises consumers to verify a provider's authorisation through official FSCA channels.
The South Africa Financial Sector Conduct Authority (FSCA) warned about individuals on Telegram impersonating Sterling Private Wealth (Pty) Ltd and its director to solicit Bitcoin investments. These impersonators falsely claim affiliation with Sterling and promise unrealistic returns, such as turning ZAR 10,000 into ZAR 100,000. The FSCA advises the public to verify authorisation through official channels and be wary of common scam tactics like guaranteed returns and urgent payment requests.
The South Africa Financial Sector Conduct Authority (FSCA) warned about individuals impersonating Capitec Bank Limited to solicit investments via WhatsApp, Facebook, and fake websites. These impersonators falsely claim to offer high returns on investments in Johannesburg Stock Exchange-listed companies. The FSCA advises caution with unsolicited offers on social media and recommends verifying the legitimacy of financial service providers through its channels.
Governor Jasmina Selimovic of the Central Bank of Bosnia and Herzegovina attended the IMF and World Bank Group Annual Meetings, discussing economic outlooks and women's inclusion. IMF Managing Director Kristalina Georgieva noted a slight global growth slowdown, while World Bank President Ajay Banga stressed job creation and regulatory improvements. Selimovic committed to promoting gender inclusion through financial education and initiatives like the We-Fi Initiative and OECD networks.
The Brazilian Superintendence of Private Insurance (SUSEP) discussed the new legal framework for insurance contracts and Complementary Law No. 213/2025 at the IBDS X International Insurance Law Congress. Superintendent Alessandro Octaviani emphasized Law No. 15,040/2024's role in enhancing contractual clarity, while Director Carlos Queiroz highlighted the need for robust prudential rules for mutual protection arrangements. Finance Minister Fernando Haddad stressed the importance of insurance in supporting credit, investment, and development.
The UAE National AML and CFT Committee’s General Secretariat signed an agreement with the University of Birmingham Dubai to develop specialized anti-financial crime education and training. The programs will prepare UAE professionals to address emerging risks, including those linked to fintech, artificial intelligence and cross-border financial crime.
Estonia's Ministry of Finance released its third national risk assessment for 2020–2024, identifying threats in money laundering, terrorism financing, and weapons proliferation financing. The report highlights improved anti-money laundering cooperation and increased capacity of the Financial Intelligence Unit, but notes rising risks in cash-based sectors and money laundering services. Terrorism financing risk remains low, primarily linked to foreign sources, particularly Russia.
The South African Reserve Bank's working paper examines climate-related fiscal and prudential tools' impact on emissions, macro-financial outcomes, and inequality in South Africa. Using a computable general equilibrium model, it finds that combining carbon taxes with targeted prudential adjustments is most effective. It highlights trade-offs like increased energy prices and wage inequality from risk-weighted capital surcharges, and potential emissions rebound from green capital discounts.
The Italian Institute for Insurance Supervision (IVASS) warned of counterfeit surety bond insurance policies falsely attributed to S.C. ASITO KAPITAL S.A., urging consumers to verify insurer authenticity. S.C. ASITO KAPITAL S.A., a Romanian insurer, clarified it is not operating in the surety class in Italy and identified false email addresses linked to the fraud. IVASS provided resources for verifying authorised insurers and intermediaries and highlighted alerts on counterfeit cases and non-compliant websites.
The Italian Institute for Insurance Supervision (IVASS) has ordered five websites to cease unauthorized insurance intermediation and instructed their blocking by Italian internet service providers. This action is part of IVASS's ongoing efforts, with 299 sites blocked since November 2023, to protect consumers from fraudulent insurance offers. IVASS advises consumers to verify the legitimacy of insurance offers through its registers and lists.
The European Central Bank reported a euro area current account surplus of EUR 12 billion in August 2025, down from EUR 30 billion in July. Over the 12 months to August 2025, the surplus decreased to EUR 303 billion (2.0% of GDP) from EUR 404 billion (2.7%) the previous year, with declines across all components. The financial account showed net acquisitions of non-euro area portfolio investment securities by residents at EUR 848 billion and by non-residents at EUR 745 billion, while the Eurosystem's reserve assets rose to EUR 1,507.8 billion.
The European Systemic Risk Board published a report on systemic risks in the crypto-asset ecosystem and adopted a Recommendation targeting stablecoins jointly issued by EU and non-EU entities, highlighting growing links with traditional finance and vulnerabilities from reserve assets held at commercial banks. It calls for closer monitoring of stablecoins, crypto-asset investment products and multi-function groups, improved supervisory cooperation and group-level reporting, and stresses the need for high-quality, liquid reserve assets. The ESRB urges the European Commission to clarify that third-country multi-issuer stablecoin schemes are not permitted under the current Markets in Crypto-Assets Regulation framework.