The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has granted a licence for actuarial activities under Deputy Chair Bidaiybek Mereke Nurlankyzy’s Order No. B-240.
Kazakhstan's Financial Market Agency discussed a mandatory self-regulatory organisation (SRO) framework for microfinance and debt collection services, proposing a two-tier supervisory model. The sector's loan portfolio reached KZT 3.2 trillion, with significant growth in business microloans. Participants, including the National Bank of Kazakhstan and Bank of Russia representatives, supported the initiative and agreed to further develop the SRO model.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Zhanar Korganbekovna Tulegenova's appointment to the executive body of JSC "Unified Accumulative Pension Fund."
The Andorran Financial Authority (AFA) has issued a warning regarding QuantumAI, an investment platform advertised on social networks, which shows signs of fraud. QuantumAI is not authorised or registered to provide investment services in Andorra and lacks transparency and verifiable corporate information. The AFA advises against engaging with the platform and recommends verifying authorisation status in official registers before investing.
The Thailand Office of Insurance Commission, alongside the Securities and Exchange Commission and the Bank of Thailand, has launched the second "Responsible Voices for Finfluencer" programme. This initiative aims to improve the accuracy and societal awareness of financial influencers' content on social media. The programme includes training and workshops on responsible communication, with participants receiving certification upon meeting specific criteria.
The Central Bank of Kuwait, leading the Gulf Cooperation Council Central Banks Governors Committee, announced a joint awareness campaign with GCC central banks to combat financial cyber fraud, launching in October for Cybersecurity Awareness Month. The initiative, part of the Joint Gulf Action Plan, will focus on public awareness and financial literacy, addressing issues like phishing, social engineering, and AI-driven fraud, with materials shared via CBK's social media.
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Dazzle Brilliance Diamond (Pty) Ltd, which is soliciting public investments with promises of unrealistic returns. The FSCA clarified that Dazzle is not authorised to provide financial services and advised consumers to verify authorisation status and be wary of exaggerated returns and unsolicited offers.
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Lucas Sekhorane Maake, operating as Skuriey.rsa on Telegram, for unauthorized forex signals and account management services. The FSCA cautioned about risks from signal providers, including potential fictitious signals and broker commission benefits despite client losses. It advised verifying the authorisation status and FSP number through FSCA channels.
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Mr Michael Jacobs and AMFX Solutions for soliciting public investments with promises of unrealistic returns. Neither party is authorised to provide financial services in South Africa. The FSCA advises caution and verification of authorisation status to avoid scams.
South Africa's Financial Sector Conduct Authority published its FY2024/25 Integrated Report, detailing a clean audit, ZAR 1.2 billion in revenue, and a ZAR 202 million net surplus. Key achievements include the rollout of a two-component retirement system, licensing of 779 financial service providers, and ZAR 119 million in penalties. The report emphasizes strengthening market integrity frameworks and adopting a risk-based supervisory approach.
The Bank of Spain released supervisory statistics for credit institutions through Q2 2025, showing improvements in key prudential indicators. Common Equity Tier 1 (CET1) rose to 13.75%, with a liquidity coverage ratio of 174.82% and a non-performing loan ratio of 2.73%. The annualised return on equity increased to 14.50%, indicating stronger profitability.
The Central Bank of the Philippines has amended reporting, recordkeeping, and audit submission rules for Money Service Businesses (MSBs), including Remittance Transfer Companies, Money Changers/Foreign Exchange Dealers, Electronic-Money Issuers, and Virtual Asset Service Providers. The circular introduces a formal reporting governance framework, a financial reporting package for prudential reporting, and stricter sanctions for non-compliance. MSBs have a one-year observation period to adapt, with penalties applying to reports due after this period.
The Dominican Republic Superintendency of Banks held its fifth congress for external audit firms, focusing on trends, best practices, and challenges in auditing financial entities. Superintendent Alejandro Fernández W highlighted the link between supervisory effectiveness and a complex risk environment, emphasizing prudential operations. The event included discussions on International Financial Reporting Standards, collaboration between audit and supervision, and audit approaches to IT systems.
The Superintendency of Banks of the Dominican Republic is participating in the 27th International Book Fair in Santo Domingo, focusing on financial education for children through its ProUsuario Office. The initiative includes distributing the Ahorropolis magazine, featuring child-friendly content on saving, and engaging visitors with games and trivia on personal finance. The ProUsuario app is promoted for accessing credit information and educational content.
The Central Bank of the Philippines held an Economic and Financial Learning Program in Cotabato City to improve financial decision-making among farmers, fisherfolk, and agri-entrepreneurs. The program covered agri-business development, financing options, digital tools, and Islamic banking, highlighting barriers like limited bank access and low financial awareness. This is the fourth EFLP rollout in 2025, following sessions for students, MSMEs, and BSP employees.
The Central Bank of the Philippines is addressing cash needs and coordinating with financial institutions in Masbate following Typhoon Opong. It is facilitating emergency withdrawals and ensuring access to financial services through alternative channels. The central bank will continue monitoring the situation to support banking services in the area.
The Central Bank of the Philippines is ensuring cash availability and banking services in Masbate through its Legazpi Branch following Typhoon Opong. Banks are advised to accommodate emergency withdrawals, and alternative channels like Money Service Businesses are available for the public. The central bank is closely monitoring conditions to support ongoing financial services during recovery.
The Central Bank of the Philippines held its Economic and Financial Learning Program in Cotabato City to boost financial literacy among farmers, fishers, and agri-entrepreneurs. The program, themed “Financial knowledge for agricultural progress and a resilient future,” covered agribusiness development, financing, digital payments, and Islamic banking. This initiative follows the 2021 Financial Inclusion Survey, which found 73% of farmers and fishers remain outside the financial system.
The Central Bank of the Philippines reported that outstanding loans from universal and commercial banks grew 11.2% year on year in August, slowing from 11.8% in July. Loans to residents increased by 11.6%, while loans to non-residents declined by 5.9%. The central bank emphasized its commitment to monitoring bank lending to ensure alignment with its price and financial stability mandates.
The Central Bank of the Philippines reported that all banks in Masbate resumed operations by noon after Typhoon Opong, though some ATMs remain offline due to connectivity issues. The bank will continue to monitor the situation.
The European Central Bank's Working Paper No. 3129 examines how unrealized losses on banks' debt securities affect monetary policy transmission in the euro area. The study finds these losses significantly amplify credit supply contraction during the 2022–2023 tightening cycle, especially impacting weakly capitalized and less liquid banks. Banks with larger unrealized losses tend to raise capital buffers and adjust deposit rates, with smaller firms facing more severe lending contractions.
The Central Bank of the Philippines reported a 6.6% year-on-year growth in broad money (M3) to PHP 18.6 trillion in August, with a 0.5% month-on-month increase. Claims on the domestic sector rose 9.8% year-on-year, driven by private sector lending and increased government borrowings. The central bank affirmed its commitment to maintaining liquidity conditions aligned with price and financial stability goals.
The European Central Bank released a working paper examining the interaction between macroprudential and monetary policy with the growing non-bank financial intermediation (NBFI) sector in the euro area. It highlights the doubling of non-bank financial sector assets since 2010 and identifies key risks like liquidity mismatches and high leverage. The paper calls for enhanced NBFI resilience through improved data sharing, risk modelling, and coordinated regulatory measures.
The European Central Bank's research shows that increased US economic policy uncertainty reduces euro area bank lending, impacting investment and monetary policy rate cuts. A US uncertainty shock can slow loan growth by up to 0.5 percentage points, with further contraction during high financial market volatility. Euro area banks, especially those more exposed to the US dollar, cut credit supply, raise interest rates, and shorten loan maturities, with lower-liquidity banks experiencing a larger decline in loan growth.
The European Systemic Risk Board reported that financial stability risks in the European Union remain elevated amid geopolitical uncertainty, stretched asset valuations and sovereign risk sensitivities, although stress tests suggest banks are resilient. It highlighted vulnerabilities in third-country multi-issuer stablecoin schemes and in multi-function groups under more lenient prudential regimes, calling for an urgent policy response. The Board also announced forthcoming reports on stablecoins, crypto-investment products and artificial intelligence and systemic risk.
The Astana Financial Services Authority is consulting on updates to its regulatory fee framework for the Astana International Financial Centre, including fixed fee adjustments and new variable components. These changes aim to maintain a proportionate and transparent model amid the AIFC's growth, supporting AFSA's oversight and technology adoption. The framework, last updated in 2017, reflects AFSA's expanded responsibilities over 4,400 participants and USD 1.85 billion in assets.
The Philippines Insurance Commission mandates insurers to expedite claim payouts and simplify procedures for policyholders affected by the Cebu earthquake and Severe Tropical Storm "Opong". Insurers must assist in immediate payments, extend filing deadlines, enhance customer service, and fast-track processing for claims related to property damage, injuries, and loss of life. Policyholders can seek assistance through the Commission’s Claims Action Center in Cebu or the head office.
The Malaysia Securities Commission’s Advisory Committee on Sustainability Reporting has released two Illustrative Sustainability Reports aligned with International Sustainability Standards Board Standards to aid disclosures under the National Sustainability Reporting Framework. Targeting the plantation and construction sectors, these reports guide applying IFRS S1 and IFRS S2 standards. They are part of the ACSR’s PACE initiative and supported by the NSRF Preparers Programme, which includes modules on sustainability reporting and climate-related analysis.
The Vietnam State Securities Commission has mandated individuals listed in an appendix to pay a VND 1,000,000 fee for a securities practice certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to collect the certificate within one year of the fee-payment notice will result in cancellation.
At Vietnam’s National Innovation Festival, the Vietnam State Securities Commission outlined the Government’s pilot framework for a domestic crypto-assets market, as per Resolution 05/2025/NQ-CP. The pilot emphasizes safety, transparency, and efficiency, requiring issuers to be legal entities in Vietnam and to base issuance on real assets, with stricter standards for virtual asset service providers. Sessions also covered the legal landscape, global tokenisation trends, anti-money laundering, and international regulatory experiences.
The Central Bank of the Republic of Azerbaijan has joined the International Financial Consumer Protection Organisation (FinCoNet) as a full member, enhancing its role in financial consumer protection and market conduct regulation. This membership allows participation in FinCoNet working groups and contribution to international policy development.
The Central Bank of the Republic of Azerbaijan held a training session for media representatives to enhance understanding of systemically important financial institutions and their role in the financial system. The session included criteria for determining systemic importance and calculating the systemic importance index, alongside discussions on financial market development and professional cooperation with media.
The Bank of Uganda has committed to the FX Global Code, affirming its role as a market participant and adherence to the Code's principles in its wholesale foreign exchange activities. The central bank acknowledges the Code as a benchmark for good practice and has aligned its operations accordingly, considering the scale and complexity of its market engagement.
The Philippine Securities and Exchange Commission hosted the "SEC FARMS: Sowing the Seeds of Growth through the Capital Market" conference, urging agri-business firms to utilize capital markets for financing. The SEC FARMS programme, under SEC Memorandum Circular No. 8, Series of 2023, streamlines securities registration, allowing firms to raise up to PHP 500 million per project. The event featured sessions on programme requirements and insights from the Philippine Stock Exchange and Investment & Capital Corporation of the Philippines.
The Croatian Financial Services Supervisory Agency (Hanfa) hosted a conference to introduce Desitudo, a financial literacy board game for primary schools, planning to donate it nationwide by year-end. The event discussed integrating financial literacy into education and highlighted survey results showing strong teacher interest and pupil proficiency in basic financial concepts. Over 150 Desitudo games have already been distributed to schools.
The National Bank of the Kyrgyz Republic approved senior governance and control-function appointments at Aiyl Bank, Capital Bank Central Asia, Commercial Bank KSB, and Demir Kyrgyz International Bank. Key appointments include Oralbek Kanatbekovich Chomokov as chair of Aiyl Bank's board and Melis Tulindyevich Mambetzhanov as chair of Demir Kyrgyz International Bank's audit committee.
The National Bank of the Kyrgyz Republic has amended regulatory acts to align with the Law on Banks and Banking Activity, mandating automated systems for fraud detection with risk-based responses. These changes aim to enhance operational risk control, improve resilience to fraud, and protect customer assets, thereby supporting trust and digitalisation in the banking sector.
The Islamic Financial Services Board and Bank Indonesia concluded a high-level roundtable in Jakarta to enhance financial inclusion in the Islamic financial services sector. Senior representatives discussed challenges and solutions, emphasizing integrating Islamic finance with digitalization and a coordinated regulatory framework. An industry plan was established to identify gaps in current financial inclusion efforts.
ISDA supports the CFTC and SEC roundtable on regulatory harmonization, advocating for streamlined US derivatives rulemaking to reduce complexity and costs. ISDA highlights the need for permanent SEC rules aligning with CFTC processes, portfolio margining for US Treasury securities, and enhanced collateral infrastructure through tokenization and blockchain.
Senator Elizabeth Warren urged President Trump to ensure the Bureau of Labor Statistics releases the September 2025 Employment Situation report on October 3, despite the federal government shutdown. She emphasized that withholding the data would increase economic uncertainty and hinder the Federal Reserve's interest rate decisions. Warren also addressed the Office of Management and Budget and the Acting BLS Commissioner, highlighting that the data had been fully collected and processed.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) fined HRA Group Holdings CAD 132,000 for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate compliance policies, risk assessments, training programs, and effectiveness reviews. The penalty has been paid, and the case is closed.
The Thailand Securities and Exchange Commission imposed civil sanctions on nine individuals for manipulating the share price and trading volume of V.L. Enterprise Public Company Limited. Penalties include THB 10,854,500 in fines, trading bans, and prohibitions on serving as directors or executives. The sanctions follow an investigation revealing coordinated trading tactics to mislead the market between December 2019 and March 2020.
HM Treasury and the European Commission issued a joint statement on the fourth Joint EU-UK Financial Regulatory Forum, emphasizing regulatory dialogue and cooperation on anti-money laundering and sanctions. Discussions included macro-economic stability, Basel implementation, securitisation reforms, and cross-border resolution, with updates on capital markets, asset management, and digital finance. Both parties agreed to coordinate on accelerated settlement and follow up on discussed topics, including an EU consultation on investor exits from private companies.
The European Payments Council (EPC) released standard test cases for the Verification of Payee (VOP) scheme to aid stakeholders in implementing IBAN-to-BIC mapping for routing VOP requests. The test set includes reference IBANs, prefixes, and expected BICs for European Economic Area countries, with an Excel-based IBAN generator for validation. The EPC plans to periodically update the file.
The National Bank of Hungary announced the Hungarian Chamber of Commerce and Industry will join its "five strikes" initiative against cyberfraud, enhancing efforts to combat corporate transfer fraud. The initiative includes the Central Fraud Detection System using AI, increased bank compliance monitoring, targeted investigations, legislative amendments, and a fraud prevention information campaign. In Q2 2025, 1,129 fraud cases totaling HUF 2.4 billion were reported.
The Egypt Financial Regulatory Authority has established a regulatory framework for digital platforms facilitating investment in private equity and venture capital funds. It mandates stringent operational requirements, including investor onboarding, secure payment channels, and comprehensive disclosure obligations. It also allows private equity funds to meet redemption requests up to 20% of total issued units, with specific conditions on unit holding and resale.
The Egypt Financial Regulatory Authority reported that total financing through supervised entities reached EGP 773bn from January to July 2025, with significant contributions from equity issuances and financial leasing contracts. The Movable Collateral Registry recorded EGP 3.9trn in registered notices, while insurance premiums collected totaled EGP 67.8bn, with claims paid amounting to EGP 34.9bn.
The Norwegian Financial Supervisory Authority will host a digital seminar on 12 November 2025, focusing on financial reporting and regulatory requirements for listed companies. The event will cover 20 years of financial reporting supervision, International Financial Reporting Standards, sustainability reporting, and priorities for 2025 annual reports. It will also address the authority's role as prospectus authority and issues related to disclosing inside information.
The Australian Prudential Regulation Authority released its Annual Report for the 2024-25 financial year, with an accessible version to follow.
The Alberta Securities Commission has permanently banned Dane Michael Skinner from market participation following his conviction for fraud and money laundering. Skinner was sentenced to eight years in prison and ordered to pay CAD 2.37 million in restitution after defrauding at least 70 investors of CAD 2.97 million. The ASC order prohibits Skinner from trading, purchasing securities, or holding positions related to securities market activities.
The Alberta Securities Commission has permanently banned Dane Michael Skinner from market activities following his conviction for fraud and money laundering. Skinner misled investors with false claims about a fracking product, defrauding at least 70 investors of CAD 2.97 million. He was sentenced to eight years in prison and ordered to pay CAD 2.37 million in restitution.
Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam attended SIBOS 2025 in Frankfurt, engaging with SWIFT leadership and showcasing Vietnam's digital finance initiatives. The Vietnamese delegation, including Permanent Deputy Prime Minister Nguyen Hoa Binh, proposed hosting a future SIBOS in Vietnam and highlighted the country's commitment to advancing international financial connectivity. SWIFT acknowledged Vietnam's strategic importance and pledged continued cooperation to enhance global payment systems.
Luxembourg's Ministry of Finance and Ministry of the Economy have launched the Competitiveness and Sustainability Loan (PCP) to enhance local companies' competitiveness and resilience. Targeted at small and medium-sized enterprises, the PCP offers interest-free financing under the EU de minimis regime, with SNCI cofinancing up to 80% of projects capped at EUR 200,000. Delivered through SNCI intermediary banks, the loan complements commercial bank funding and supports digital and green transition projects.
The Pensions Superintendency (SIPEN) participated in the 20th International Labour Organization Regional Conference in Punta Cana, highlighting labour-market developments amid global shifts. Labour Minister Eddy Olivares reported a record employment rate of 62.8% in Q2 2025, with 121,164 new jobs and a 2.2% reduction in informality year-on-year. SIPEN emphasized its role in supporting a more inclusive retirement system in the Dominican Republic.
The Bank of Korea released preliminary balance of payments data for August 2025, indicating a USD 9.15 billion current account surplus. Additionally, there was a USD 7.88 billion increase in net assets on the financial account.
The Securities Commission of The Bahamas released its 2024 annual report, detailing its strategic plan for 2025–2027 and 84% progress on 2021–2024 initiatives. Key developments include implementing the Securities Industry Act 2024 and the Digital Assets and Registered Exchanges Act 2024, operational modernisation, and regulatory framework enhancements. For 2025, the Commission plans to advance Project Butterfly, update its Digital Asset Policy, and develop a capital markets green paper and sustainability disclosure standards.
The National Bank of Denmark reported a decrease in Denmark’s foreign-exchange reserve by DKK 0.1 billion in September 2025 to DKK 678.6 billion, due to a net sale of foreign exchange. From January to September 2025, net foreign-exchange purchases totalled DKK 12.3 billion, with the reserve increasing by DKK 24.1 billion. Policy rates remained unchanged, with the discount rate and current-account rate at 1.6% per annum.
The Maldives Monetary Authority will establish Payments Maldives to enhance the country's retail payment system. A public competition has been launched to design the company's logo.
The National Bank of Moldova reported a Q2 2025 current account deficit of USD 1,005.91 million, a 41.6% increase from the previous year, equating to 21.1% of GDP. The deficit was driven by a larger goods trade deficit, weaker primary income balance, and reduced services surplus, despite a higher secondary income surplus. Capital account inflows decreased significantly, while financial account inflows were influenced by reduced residents' external financial assets and increased liabilities to non-residents.
The National Bank of Moldova is drafting amendments to update the list of foreign currencies against which the Moldovan leu is quoted. This involves revising Annex 1 of the Regulation on establishing the official exchange rate, initially adopted in 2009.
The National Bank of Moldova reported a Q2 2025 current account deficit of USD 1,005.91m, a 41.6% increase from Q2 2024, driven by a larger goods trade deficit and deteriorating primary income balance. The international investment position was minus USD 7,250.82m, with gross external debt at USD 11,408.70m, representing 60.6% of GDP. The release includes a full analytical report and updated statistics in the bank's database.
The National Bank of Moldova reported a 10.5% increase in Moldova's gross external debt in the first half of 2025, totaling USD 11,408.70 million, or 60.6% of GDP. Public external debt rose by 11.1% to USD 4,794.34 million, while private external debt increased by 10.1% to USD 6,614.36 million. Further details are available in the provisional Q2 2025 international accounts and related publications.
The National Bank of Moldova released provisional Q2 2025 statistics showing a widened current account deficit of USD 1,005.91 million (21.1% of GDP) due to a larger goods trade deficit and a swing in primary income. Net financial inflows were driven by reduced residents’ external assets and increased liabilities, with gross external debt rising to USD 11,408.70 million. Transactions with Ukraine are now recorded under "other countries" instead of the CIS, with historical data adjusted for comparability.
The National Bank of Moldova reported a provisional net debtor position of USD 7,250.82 million for Moldova's international investment position as of 30 June 2025, marking a 19.3% increase from end-2024. The net debtor IIP-to-GDP ratio rose to -38.5%, up 5.1 percentage points from end-2024. External financial assets increased by 5.4% to USD 8,281.91 million, while external liabilities grew by 11.5% to USD 15,532.72 million.
The National Bank of Moldova met in Brussels with the European Commission’s Directorate-General for Economic and Financial Affairs, focusing on Moldova’s macroeconomic stability and EU integration. Discussions included Moldova’s Growth Plan, IMF-supported reforms, and the National Bank’s measures for price stability. The meeting also addressed Moldova’s upcoming integration into the Single Euro Payments Area and aligning its banking prudential framework with EU standards.
The National Bank of Moldova's Executive Committee amended regulations concerning requirements for management bodies of banks and financial holding companies, as well as key function holders and bank liquidators. These amendments will take effect on 2 November 2025, with certain exceptions.
The National Bank of Moldova has approved a Regulation on counterparty credit risk treatment for banks and amended related normative acts under Decision No. 220. These changes will take effect on 1 October 2026.
The Central Bank of The Bahamas has launched a public consultation on legislative reforms to boost financial sector resilience and payment services. The proposals aim to strengthen resolution and crisis management frameworks, expand depositor protection, and improve oversight of payment services. Reforms for cooperative credit unions focus on establishing resolution frameworks, enhancing supervisory powers, and updating governance and capital requirements.
The Central Bank of the Bahamas warns of frauds using deepfake technology to impersonate financial institutions and promote fake investments. Official communications are only through the Central Bank’s verified channels, and suspicious activities should be reported to the Royal Bahamas Police Force. Government securities issued through the Central Bank include Bahamas Registered Stock, Bahamas Savings Bond, and Treasury Bills.
The Central Bank of the UAE and the Central Bank of Türkiye signed a currency swap agreement worth AED 18 billion and TRY 198 billion, alongside two MoUs. The agreements aim to enhance the use of the UAE dirham and Turkish lira in cross-border transactions, improve payment system interoperability, and support bilateral trade. The MoUs focus on expanding local currency settlements, facilitating cross-border payments, and integrating the UAE's instant payment platform Aani with Türkiye's FAST system.
The Eastern Caribbean Central Bank released a Legal and Regulatory Review Report to aid in drafting harmonised data protection and privacy legislation for the Eastern Caribbean Currency Union. The report includes a gap analysis of current laws, identifies barriers to data flow, and recommends harmonisation strategies, while reviewing international best practices and enforcement models. Stakeholder feedback is invited to refine these proposals.
The Bank of Cape Verde will host an international conference on "Artificial Intelligence in promoting efficiency and innovation in the financial system" on 3 October 2025, as part of its 50th anniversary. The event will feature keynotes and panels on AI's role in data processing, operations, regulatory compliance, and risk management, with participation from central banks, financial institutions, and academia. Opening and closing addresses will be delivered by prominent officials, including the Bank of Cape Verde Governor and the Cabo Verde Prime Minister.
Saudi Arabia's Capital Markets Authority is consulting on a draft framework to allow all non-resident foreign investors direct access to the Main Market, eliminating the Qualified Foreign Investor concept and swap agreements. This aims to diversify the investor base, attract more investments, and enhance market liquidity. The proposal follows recent measures to simplify investment account procedures for certain foreign investors.
The Saudi Arabia Capital Markets Authority has authorized Najm Almarzam Company for Investment to conduct Managing Investments activities in the securities business, following the completion of business commencement requirements. The license was granted by a CMA resolution dated 28 July 2025.
The Saudi Arabia Capital Markets Authority (CMA) approved Red Sea International Company's plan to convert up to SAR 476,023,821 of debt into equity, pending approval from the company's extraordinary general assembly and regulatory procedures. A shareholders' circular will explain the capital increase, and the CMA advises shareholders to review it and consult a financial adviser if needed. The CMA clarified that its approval confirms compliance with the Capital Market Law and its Implementing Regulations.
The Saudi Arabia Capital Markets Authority approved Tabuk Agricultural Development Company's request to reduce its capital from SAR 391,767,000 to SAR 184,356,390, pending extraordinary general assembly approval and regulatory procedures. The company must publish a disclosure document detailing the capital reduction method and its effects before the assembly meeting. The authority clarified that its approval confirms compliance with the Capital Market Law and its Implementing Regulations, not the reduction's feasibility.
The Angola Capital Markets Commission has approved the registration of GRAÇA SOBRE GRAÇA, LDA. as a corporate external auditor authorized to conduct audit activities in the securities and derivatives market under its supervision.
The Angola Capital Markets Commission joined Rádio Eclésia’s “Radar” programme to discuss financial education's role in preventing scams ahead of World Investor Week. Promoted by the International Organization of Securities Commissions, the initiative aims to enhance financial literacy and investor protection. The discussion included practical guidance on financial planning and highlighted the importance of regulated financial intermediaries and key investment instruments.
The Angola Capital Markets Commission joined Rádio Mindset’s “Café com CFO” programme, where Executive Administrator Dr Vasco Januário discussed Angola’s capital market evolution and key public offerings (OPVs). The discussion highlighted OPVs involving BFA, BAI, BCGA, ENSA, and BODIVA, addressing challenges in enhancing market dynamism and accessibility. Priorities include promoting new instruments, financial education, and international cooperation.
The National Bank of Ukraine's September 2025 Business Outlook Survey shows a slightly positive economic outlook, with the business activity expectations index rising to 50.4 from 49.0 in August. Improved sentiment is due to sustained consumer demand, stable energy and foreign exchange markets, and decelerating inflation, despite intensified attacks and high reconstruction costs. Trading is the most optimistic sector, while construction and services show mixed expectations, and industry lags slightly below neutral.
The Financial Superintendence of Colombia granted SET ICAP Securities S.A. a Temporary Operating Certificate for a two-year pilot in its Controlled Testing Space to trade non-standardised derivatives. Starting 1 October 2025, the pilot will focus on UVR/COP non-delivery forwards, allowing monthly maturities from 1 to 24 months for short-term inflation hedging. The initiative does not alter existing regulations, and any regulatory dispensations are limited to the pilot's duration.
The Central Bank of Mexico has launched a public consultation on draft amendments to its open market operations rules, aiming to enhance banks' access to central bank funding and improve liquidity management. Key changes include expanding eligible collateral to encompass foreign-currency-denominated Federal Government debt, development bank debt, and U.S. Treasury securities.
Central Bank of Montenegro Governor Radovic highlighted the importance of participating in the Single Euro Payments Area (SEPA) and the TARGET Instant Payment Settlement (TIPS) service for integrating Montenegro's payment system into Europe.
The Central Bank of the Republic of Kosovo, led by Governor Ahmet Ismaili, joined the European Banking Coordination Forum in Brussels, highlighting Kosovo's European integration goals, including joining SEPA. Discussions focused on the Savings and Investments Union and capital market integration in Central, Eastern, and South-Eastern Europe. The central bank aims to advance legislation to expand finance access, create a capital market, and reform payment systems to enhance Kosovo's financial ecosystem.
The Dubai Financial Services Authority issued Consultation Paper 168 to seek feedback on proposed changes to its Crypto Token regulatory framework in the Dubai International Financial Centre. The proposals include replacing the recognition model with a framework requiring entities to assess Crypto Token suitability, supported by governance and transparency measures. The DFSA will retain responsibility for assessing Fiat Crypto Tokens and plans to remove certain jurisdictional and investment restrictions, while introducing new reporting obligations.
Nexia Perth Audit Services Pty Ltd paid AUD 78,250 to settle an ASIC infringement notice for allegedly breaching the APES 110 Code of Ethics during a listed company audit. ASIC claims a Nexia Perth Audit network firm provided prohibited tax services to the audit client, posing a self-review threat to auditor independence. This issue was identified through ASIC's proactive surveillance on auditor independence, with further findings and actions expected soon.
The Australian Securities and Investments Commission (ASIC) has disqualified Veronica Roberts from managing corporations for five years due to her involvement in four failed Victorian construction businesses, citing insolvent trading and unpaid employee-related liabilities. ASIC found failures in care, diligence, and record-keeping, with unsecured creditor debts totaling approximately AUD 3.5 million, including AUD 1.2 million for unpaid wages and entitlements. Roberts may seek a review of the decision by the Administrative Review Tribunal.
Ghana’s Ministry of Finance has launched a Joint Action Plan with regulatory and enforcement bodies to enhance Anti-Money Laundering and Counter-Terrorist Financing compliance in the extractive sector, focusing on artisanal and small-scale gold mining. The plan outlines responsibilities among stakeholders, including the Bank of Ghana and the Financial Intelligence Centre, with support from the British High Commission. This initiative is crucial as Ghana prepares for its 2026 Financial Action Task Force mutual evaluation to avoid potential blacklisting and economic repercussions.
South Africa's National Credit Regulator issued Circular 10 of 2025, updating the credit industry on projects via the Credit Industry Forum (CIF) aimed at resolving operational issues related to the amended National Credit Act. The update follows the CIF's 41st meeting and outlines the progress of sub-committees tackling these challenges.
The Ukraine National Commission on Securities and Stock Market reminds supervised entities, including securities issuers and capital market participants, to submit financial statements by 31 October 2025 via the Financial Reporting Collection Center in XBRL format. This includes annual and interim statements for periods of non-submission during martial law. The Commission is ensuring technical feasibility for compliance.
The Ukraine National Commission on Securities and Stock Market endorsed a draft decision to streamline financial reporting for commodity exchanges by transitioning to a single XBRL format. This change aims to eliminate double reporting and make data accessible to more authorised users. The draft will be submitted to the Commission for final approval and publication.
The Insurance Supervision Institute of Mozambique and Angola’s Insurance Regulation and Supervision Agency signed a cooperation protocol to enhance institutional relations and insurance market development through staff training, experience-sharing, and technical assistance. The agreement establishes a framework for exchanging technical and regulatory information, promoting joint training, and addressing cross-border challenges like climate change and digital transformation. The protocol aligns with shared priorities to increase insurance penetration and advance risk-based supervision.
The Insurance Supervision Institute of Mozambique hosted the 22nd General Assembly of the Association of Lusophone Insurance Supervisors in Maputo, where Mozambique assumed the presidency. Key discussions included financial inclusion, artificial intelligence, and the establishment of an ASEL advanced training centre. The next assembly is scheduled for 2026 in São Tomé and Príncipe.
The Insurance Supervision Institute of Mozambique hosted the XXIX Annual Conference of the Association of Lusophone Insurance Supervisors in Maputo, focusing on local content in oil and gas projects, climate change implications for insurance, and AI use. Discussions highlighted the need for a coherent legal framework for national participation in oil and gas, insurers' role in climate adaptation, and AI's potential to enhance operational efficiency. A study on insurance distribution revealed common regulatory requirements and challenges in AI regulation.
Panama’s Superintendency of the Securities Market reminded licensed securities houses and stock exchanges to pay the 2025 third-quarter supervision fee within 30 days in October, based on their transactions. Following Agreement 2-2025, securities houses are no longer required to submit the RP-DS-3 form. Payments can be made via certified cheque or bank transfer, with receipts issued upon confirmation.
Indonesia's Financial Services Authority (OJK) has appointed senior officials at deputy commissioner and department head levels to strengthen its framework under the Law on Development and Strengthening of the Financial System. Key appointments include Darmansyah as Deputy Commissioner for Strategic Planning and Deden Firman H. for Financial Conglomerate Supervision. These changes aim to enhance financial sector supervision and consumer protection.
Mexico's Ministry of Finance reported that the Financial System Stability Council's updated risk assessment confirms the financial system's resilience despite global uncertainties. It highlights slower global growth, mixed inflation trends, and a cautious stance from central banks, with eased financial conditions and improved risk appetite. The Council noted that commercial banks' capital and liquidity exceed regulatory requirements, with macroeconomic scenarios set for the annual capital adequacy assessment.
The Central Bank of Nicaragua reported a total external debt of USD 15,886.7 million for Q2 2025, with the public sector holding 55.5% and the private sector 44.5%. Disbursements reached USD 750.1 million, primarily from private creditors, while external debt service totaled USD 820.9 million. The weighted average interest rate was 5.26% for private long-term debt and 2.81% for public debt.
The Central Bank of Nicaragua reported robust growth in the Banking and Finance System for August 2025, with public deposits increasing by 11.6% and the loan portfolio by 13.5% year on year. Asset quality remained strong, with a performing portfolio at 95.6% and a reduced delinquency ratio of 1.1%. Liquidity and capital metrics were solid, with liquidity at 34.6% and capital adequacy at 19.1%.
National Bank of Georgia Governor Natia Turnava met with 360T executives at SWIFT’s SIBOS conference to discuss developing Georgia’s FX trading market and launching a 360T platform. The initiative aims to reduce bid-ask spreads, increase turnover, and enhance regulatory supervision. Turnava will also deliver a keynote address at SIBOS, a first for a National Bank of Georgia Governor.