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  • 2025-09-29LithuaniaBank of Lithuania

    Bank of Lithuania co-hosts Tallinn conference on the digital euro and payment system resilience

    The Bank of Lithuania, with Estonia and Latvia's central banks, is hosting the "Payments & Policy in a Changing Environment" conference in Tallinn to discuss Europe's payment future and security, focusing on the digital euro. The agenda covers central bank digital currency policy, payment system integration, and resilience in European and Baltic sectors. Key speakers include Bank of Lithuania Board members Marius Skuodis and Evaldas Ruzgys, European Commissioner Valdis Dombrovskis, and European Central Bank Executive Board member Piero Cipollone.

    Policy & regulationCooperationCBDC
  • 2025-09-29PortugalBank of Portugal

    Bank of Portugal releases August data on the state guarantee scheme for under-35 primary residence mortgages

    The Bank of Portugal released updated BPstat data on the state personal guarantee regime for home purchase loans, noting EUR 416 million in guaranteed contracts signed in August. These contracts comprised 45.5% of the number and 47.0% of the amount contracted by borrowers aged up to 35, with a monthly decline of 14.7% and 12.9%, respectively. The scheme covers up to 15% of property value for transactions up to EUR 450,000, with a maximum duration of 10 years, applicable to contracts signed until 31 December 2026.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-09-29GermanyBaFin

    Germany's Federal Financial Supervisory Authority launches consultation on draft rules for Crypto Markets Supervision Act notifications

    Germany's Federal Financial Supervisory Authority (BaFin) has released a draft regulation for consultation detailing notification and documentation requirements under the Crypto Markets Supervision Act. It aims to streamline the notification process using standardised forms, aligning with existing regulations under the German Banking Act and the Payment Services Supervision Act. The consultation includes draft forms for various participations and activities, with submissions published online unless objected to by respondents.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-09-29Bosnia and HerzegovinaBanking Agency of the Federation of Bosnia and Herzegovina

    Banking Agency of the Federation of Bosnia and Herzegovina participates in Vienna Initiative Full Forum 2025 focused on the Savings and Investments Union

    Jasmin Mahmuzić, director of the Banking Agency of the Federation of Bosnia and Herzegovina, is attending the Vienna Initiative Full Forum 2025 in Brussels. The forum focuses on financial stability and capital market integration in Central, Eastern, and South-Eastern Europe. Discussions involve key financial institutions and address capital market integration, banking sector resilience, and cross-border cooperation. Mahmuzić emphasized the importance of supervisory authorities, market infrastructure development, and support for small and medium-sized enterprises.

    Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
  • 2025-09-29New ZealandDepartment of Internal Affairs

    New Zealand Department of Internal Affairs, Financial Markets Authority and Reserve Bank of New Zealand update AML/CFT designated business group guidelines and publish notification form

    The Department of Internal Affairs, the Financial Markets Authority, and the Reserve Bank of New Zealand have issued updated guidelines on designated business groups (DBGs) under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) framework. The updates include a Scope Guideline detailing shared obligations within DBGs and a Formation and Change Guideline outlining processes for establishing and modifying DBG arrangements. These replace the October 2022 versions, and reporting entities can manage DBGs via AML Online.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-09-29Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission issues financial review showing 14% profit increase to $28.9 billion and record $99.2 trillion transaction value in H1 2025

    The Hong Kong Securities and Futures Commission reported a 14% rise in profits to $28.9 billion and a record $99.2 trillion in total securities transaction value for the first half of 2025. Transaction values increased by 22% compared to the second half of 2024 and 57% year-on-year. Profit growth was driven by higher trading commissions and reduced overheads, with notable increases in net securities commission and corporate finance advisory income.

    ResearchActivity and performance reporting
  • 2025-09-29Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission reprimands and fines Roofer Securities HKD 2.1 million for mishandling client money

    The Hong Kong Securities and Futures Commission reprimanded and fined Roofer Securities Limited HKD 2.1 million for mishandling client money, including insufficient funds in its segregated client account. An investigation revealed 12 incidents of under-segregation due to using client money for margin calls, inadequate bank transfer management, and human error. The SFC considered Roofer's prompt rectification, enhanced controls, and cooperation in determining the sanctions.

    EnforcementInvestigations & enforcement actionsClient asset custody and safekeeping
  • 2025-09-29CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario tells regulated entities to use alternative delivery methods amid Canada Post service disruption

    The Financial Services Regulatory Authority of Ontario (FSRA) issued guidance for regulated entities during the Canada Post service disruption, emphasizing alternative communication methods to ensure fair treatment of consumers, pension plan beneficiaries, and credit union members. FSRA has adapted its processes to use alternative delivery channels. Canada Post employees have been off the job since September 25, 2025, affecting mail processing and delivery.

    Policy & regulationGuidance & interpretationOperational risk and resilience
  • 2025-09-29PortugalPortuguese Securities Commission (CMVM)

    Portuguese Securities Commission publishes 2024/2025 audit quality control report citing 121 findings and enforcement outcomes

    The Portuguese Securities Commission (CMVM) released its audit quality control report for 2024/2025, highlighting sector trends, technical recommendations, and sanctioning activity with European comparisons. The CMVM initiated 46 supervisory actions and closed 52, identifying 121 findings, including 27 of higher severity. The report notes increased supervision linked to a strengthened monitoring model, with 24 very serious and 32 serious infractions recorded, resulting in nine fines totaling EUR 52,500.

    SupervisionReviews, inspections & stress testsAuditing
  • 2025-09-29Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority publishes September 2025 Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report featuring Project Cargox trade finance research

    The Hong Kong Monetary Authority released its September 2025 Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report, offering insights into Hong Kong's monetary and financial developments. The Bulletin features "Project Cargox: Unlocking Trade Finance Value through Cargo Data," while the Report examines global and local economic conditions, monetary and financial stability, and banking sector risks.

    Research
  • 2025-09-29Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns public of bank-related scams involving fraudulent websites and phishing messages

    The Hong Kong Monetary Authority (HKMA) issued a scam alert following reports of fraudulent websites, fake internet banking login screens, and phishing messages involving several banks. The HKMA emphasized that banks will not send messages with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-09-29AustraliaReserve Bank of Australia

    Reserve Bank of Australia varies ATM System Access Regime to align with new ATM Access Standard effective 1 October 2025

    The Reserve Bank of Australia has announced a minor variation to the Access Regime for the ATM System, effective 1 October 2025, to accommodate the new ATM Access Standard replacing the industry-administered ATM Access Code, without altering substantive requirements.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-09-29Latin AmericaFinancial Action Task Force of Latin America (GAFILAT)

    Financial Action Task Force of Latin America holds first regional workshops on proliferation financing risk assessments

    GAFILAT held regional workshops in Santiago, Chile, to combat financing of weapons of mass destruction proliferation. Part of GAFILAT's risk assessment project, the workshops reviewed member progress on national risk assessments and discussed implementing targeted financial sanctions per Financial Action Task Force standards. Participants included officials from various national authorities, with sessions led by GAFILAT and international experts.

    Policy & regulationGuidance & interpretationAML and CFTSupervision process and methodologies
  • 2025-09-29GlobalBank for International Settlements

    Bank for International Settlements maps methodological gaps in Latin American financial conditions indices and links 2025 easing to US dollar moves

    The Bank for International Settlements released BIS Bulletin No 113, analyzing financial conditions indices (FCIs) in Latin America and their implications for monetary policy. The study highlights that foreign and global factors significantly influenced financial conditions in early 2025, with local-currency appreciation against the USD loosening conditions. Discrepancies in FCI signals due to differing methodologies impact monetary policy transmission and economic growth projections.

    Research
  • 2025-09-29KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves Sanzhar Ospanov as an executive body member of Alatau City Invest

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Sanzhar Mukhamedkalievich Ospanov's appointment to the executive body of JSC Alatau City Invest. This senior management approval pertains to the securities market.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-09-29KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves senior appointments in the insurance sector

    Kazakhstan's Financial Market Agency approved senior management appointments in the insurance sector, including Kremer E.A. as Chief Accountant and Shakenov R.K. and Kyrykbay S.S. in executive roles. Managers meeting qualifications can transfer within the sector without additional consent. Current consents are in the agency's registers of permits and notifications.

    SupervisionAuthorisations & approvalsHiring and recruitment
  • 2025-09-29KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issues guidance on fraudulent loans and creditor deadlines to suspend charges and write off debt

    The Agency for Regulation and Development of the Financial Market of Kazakhstan issued a memo on addressing fraudulent loans, including pausing interest and collections upon fraud confirmation. It outlines conditions for debt write-off, requiring law enforcement or court confirmation of fraud and lender breaches, with specific procedures for both out-of-court and court-ordered write-offs.

    Policy & regulationGuidance & interpretationLending
  • 2025-09-29KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Kazakhstan’s Agency for Regulation and Development of the Financial Market reiterates borrower pathways for loan term changes, ombudsman review and personal bankruptcy

    The Agency for Regulation and Development of the Financial Market of Kazakhstan reiterated the framework for borrower interactions with banks, microfinance organizations, and collection agencies, detailing procedures for altering repayment terms and escalating disputes. Borrowers can request term changes by submitting evidence of financial hardship, with decisions required within 15 days. The note also outlines personal bankruptcy options, including debt write-off under specific conditions and judicial bankruptcy for larger liabilities, with associated restrictions on future credit.

    Policy & regulationGuidance & interpretationLending
  • 2025-09-29KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan authorises Halyk Bank to acquire a significant stake in Uzbekistan's Click

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has authorized JSC Halyk Bank of Kazakhstan to acquire a significant stake in Uzbekistan's JSC Click, as per Resolution No. 63.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-09-29QatarQatar Central Bank

    Qatar Central Bank participates in OIC-COMCEC Central Banks Forum and discusses bilateral cooperation with Central Bank of the Republic of Turkiye

    Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani participated in the Seventh Meeting of the OIC-COMCEC Central Banks Forum in Istanbul and met with Central Bank of the Republic of Turkiye Governor Dr. Fatih Karahan to discuss enhancing banking and financial cooperation.

    Policy & regulationCooperationCross-border cooperation
  • 2025-09-29Middle EastUnion of Arab Securities Authorities

    Union of Arab Securities Authorities participates as observer in Arab central bank governors’ meeting approving 2025 financial stability and joint economic reports

    The Union of Arab Securities Authorities reported its Secretary General attended the 49th annual meeting of the Council of Arab Central Banks and Monetary Authorities’ Governors, where the 2025 Annual Financial Stability Report and Joint Arab Economic Report were approved. Discussions included monetary policy management amid uncertainty, central bank responses to trade war pressures, and enhancing financial sector cybersecurity, with a draft Joint Arab statement for the 2025 International Monetary Fund meetings endorsed.

    Policy & regulationCooperationFinancial stability and systemic riskMonetary policy decisions and developments
  • 2025-09-29Middle EastMiddle East and North Africa Financial Action Task Force (MENAFATF)

    Middle East and North Africa Financial Action Task Force and World Gold Council convene workshop on misuse of the gold sector for money laundering and terrorist financing

    The Middle East and North Africa Financial Action Task Force, in collaboration with the World Gold Council, conducted a workshop addressing the misuse of the gold sector for money laundering and terrorist financing, emphasizing the need for enhanced integrity, transparency, and cooperation. The event highlighted key risks, best practices, and the importance of strengthening legal frameworks and public-private partnerships.

    Policy & regulationCooperationAML and CFTMarket abuse
  • 2025-09-29Middle EastMiddle East and North Africa Financial Action Task Force (MENAFATF)

    Middle East and North Africa Financial Action Task Force holds workshop with the World Gold Council on gold sector money laundering and terrorist financing risks

    The Middle East and North Africa Financial Action Task Force, with the World Gold Council, held a workshop on gold sector misuse for money laundering and terrorist financing, stressing enhanced regional and international cooperation. Nearly 200 participants from various authorities discussed risks, best practices, regulatory challenges, and public-private partnerships.

    Policy & regulationCooperationAML and CFTMarket abuse
  • 2025-09-29MexicoCONDUSEF

    Mexico’s National Commission for the Protection and Defence of Users of Financial Services reports 3,094 complaints in Durango in January to August 2025

    Mexico’s National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported 3,094 complaints in Durango from January to August 2025, an 11.5% increase from 2024. Durango accounted for 1.7% of national complaints, with MXN 93.5 million claimed and MXN 27.8 million recovered. Credit cards, special credit reports, and personal loans were the most complained-about products, with multiple banking responsible for 51.2% of complaints.

    Data & statisticsComplaints and dispute resolution
  • 2025-09-29EuropeEurosif

    Eurosif supports EFRAG’s ESRS simplification approach but warns against further cuts that could reduce investor-relevant disclosures

    Eurosif responded to the European Financial Reporting Advisory Group's consultation on simplifying the European Sustainability Reporting Standards, supporting the balance between streamlining and meeting investors' needs. Eurosif warns that further reductions beyond the 57% cut in data points could limit useful disclosures and highlights risks in making anticipated financial effects disclosures voluntary, raising concerns about reduced alignment with the International Sustainability Standards Board and potential weakening of climate and biodiversity reporting, as well as implications for Sustainable Finance Disclosure Regulation reporting.

    Policy & regulationInternational standards & recommendationsESGDisclosures
  • 2025-09-29BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance highlights insurance broker rule consultation and regulatory innovation at CONEC 2025

    SUSEP highlighted its role in the Insurance Brokers Congress 2025, focusing on a public consultation for a new framework for insurance brokers. Director Airton Almeida discussed expanding professional self-regulation, the impact of Complementary Law No. 213/2025 on mutual protection cooperatives, and SUSEP's regulatory sandbox achievements. The LabSeg insurance innovation laboratory was also mentioned as a key initiative.

    Policy & regulationGuidance & interpretationFintech and insurtechRegulatory sandbox
  • 2025-09-29BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance runs consultations on draft CNSP rules implementing Complementary Law 213/2025

    The Brazilian Superintendence of Private Insurance (SUSEP) is conducting public consultations on draft National Council of Private Insurance (CNSP) resolutions to implement Complementary Law No. 213/2025. The consultations cover mutualist patrimonial protection operations, the role of insurance brokers, and insurance operations by cooperative societies. Feedback is being collected through SUSEP’s Public Consultation System.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-09-29TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan introduces 2025-issue coins in 1, 3 and 5 somoni and 20 and 50 diram denominations

    The National Bank of the Republic of Tajikistan has introduced new 2025-issue coins, including 1, 3, and 5 somoni and 20 and 50 diram denominations, effective 26 September 2025. These coins will circulate alongside existing coins.

    Monetary policyMonetary policy instruments & operationsCurrency and cash management
  • 2025-09-29TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan discusses closer banking cooperation with the Central Bank of the Republic of Turkey

    The National Bank of Tajikistan's chairman, Firdavs Tolibzoda, met with Turkey's Central Bank governor, Fatih Karahan, to discuss enhancing bilateral banking cooperation. Tolibzoda highlighted Tajikistan's recent banking reforms, stable foreign capital participation, and openness to Turkish banks' expansion. The meeting also explored leveraging Turkey's expertise in digitalisation and innovative banking technologies.

    Policy & regulationCooperationCross-border cooperation
  • 2025-09-29New ZealandReserve Bank of New Zealand

    Reserve Bank of New Zealand reports progress on nine monetary policy review recommendations and publishes interim assessment of the 2021–24 tightening cycle

    The Reserve Bank of New Zealand reports strong progress in implementing recommendations from its 2022 monetary policy review, noting that the Monetary Policy Committee's strategy successfully reduced inflation to within the 1 to 3% target by September 2024. The update highlights expanded use of high-frequency data, new tools for estimating neutral interest rates, and enhanced scenario analysis, with reflections to inform the next full review in 2027.

    Policy & regulationImplementation, projects & pilots
  • 2025-09-29BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority highlights Integrity Programme channels for confidential ethics reporting and support

    The Brazilian Pension Funds Authority (PREVIC) linked its Integrity Programme to September Yellow mental health awareness, emphasizing ethics, transparency, and respect in its 2024–2025 Integrity Plan. PREVIC outlined communication channels for confidential reporting and guidance, including the Ethics Committee, Ombudsman, and conflict-of-interest prevention system. A special edition of its "Oriente-se" materials focused on moral harassment and mental health.

    Institutional developmentGovernanceOther
  • 2025-09-29BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority orders 180-day special intervention in Instituto GEIPREV to protect 328 plan members

    The Brazilian Pension Funds Authority (PREVIC) has placed Instituto GEIPREV de Seguridade Social under a Special Intervention Regime for 180 days, effective 29 September, to protect the rights and assets of its 328 participants. This decision follows the identification of economic and financial imbalances in the entity's Administrative Management Plan, which failed to present a viable recovery strategy despite supervisory proceedings since 2022.

    SupervisionInterventionsSupervision process and methodologies
  • 2025-09-29United StatesNew York State Department of Financial Services

    New York State Department of Financial Services announces Superintendent Adrienne Harris departure and names Kaitlin Asrow acting superintendent from 18 October 2025

    The New York State Department of Financial Services announced Superintendent Adrienne A. Harris will depart after four years, with Kaitlin Asrow appointed as Acting Superintendent effective 18 October 2025. Asrow, previously Executive Deputy Superintendent of the Research & Innovation division, has overseen virtual currency regulation and policy work on innovation and financial inclusion. Under Harris, DFS recovered over USD 725 million in restitution and expanded its Virtual Currency Unit, preventing firms like FTX from operating in New York.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-09-29EuropeEuropean Central Bank

    European Central Bank advisory group AMI-SeCo issues recommendations on remaining barriers to EU securities post-trade integration

    The Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) published a report identifying barriers to integrating EU securities post-trade services and recommending actions to address legal, operational, and data fragmentation issues. Key recommendations include enhanced legal analysis, improved transparency tools, and wider adoption of common data models and ISO 20022. The report links settlement recommendations to the upcoming T+1 securities settlement cycle transition by October 2027, with AMI-SeCo committed to monitoring progress and compliance.

    Policy & regulationGuidance & interpretationMarket infrastructure
  • 2025-09-29EuropeEuropean Central Bank

    European Central Bank publishes research modelling pricing cascades that dampen monetary inflation but amplify supply shock swings through production networks

    The European Central Bank released a working paper by Mishel Ghassibe and Anton Nakov, presenting a non-linear, multi-sector model to analyze inflation episodes driven by sectoral shocks and firm repricing changes. The model shows that production networks dampen price adjustments after demand shocks but amplify repricing and inflation volatility following supply shocks. Calibrated to 39 euro area sectors, the framework accurately reflects the euro area's post-Covid repricing frequency increase and inflation peak.

    Research
  • 2025-09-29EuropeEuropean Central Bank

    European Central Bank working paper links Great Moderation performance to rule of law rather than central bank regimes and ties 2022 inflation surge to Russian import exposure

    The European Central Bank's paper analyzes inflation and growth stability across 37 advanced economies since 1986, emphasizing institutional quality, measured by the World Bank Rule of Law indicator, over central bank features. It finds reliance on Russian imports predicted the 2022 inflation surprise, with institutional quality and fiscal stance statistically insignificant. The 2022 inflation surge was driven by supply-side factors, not a reversal of Great Moderation dynamics.

    Research
  • 2025-09-29EuropeEuropean Central Bank

    European Central Bank sets out the case and core design features for a digital euro as legal tender

    ECB Executive Board member Piero Cipollone emphasized a digital euro's potential to provide universally accessible central bank money, complementing cash and enhancing payment choice. He noted declining cash use and reliance on non-European payment solutions, advocating for a digital euro to bolster autonomy and innovation. Cipollone stressed collaboration among the ECB, national central banks, and stakeholders for successful implementation.

    Policy & regulationImplementation, projects & pilotsCBDC
  • 2025-09-29OmanCentral Bank of Oman

    Central Bank of Oman to host third Muscat International Forum on risk management in banks on 6–7 October

    The Central Bank of Oman, in partnership with the Union of Arab Banks, will host the third Muscat International Forum for Risk Management in Banks and Financial Institutions on 6-7 October. The event will feature panel discussions on liquidity risk, credit risk management, cyber risk, and innovation, as well as a roundtable on risk culture and governance. International speakers and experts from Oman and the Arab region will participate.

    Policy & regulationImplementation, projects & pilotsRisk management
  • 2025-09-29SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore and industry partners publish technical report on quantum key distribution sandbox for financial sector communications

    The Monetary Authority of Singapore, with DBS, HSBC, OCBC, UOB, SPTel, and SpeQtral, released a report on a sandbox evaluating Quantum Key Distribution (QKD) for secure financial communications. It highlights QKD's security potential and the need for stronger assurance, standards, and IT integration. MAS and partners are appointed network operators for Singapore’s National Quantum-Safe Network Plus by the Infocomm Media Development Authority.

    SupervisionInnovation & testingQuantum computing
  • 2025-09-29SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore appoints Abigail Ng as Chief Sustainability Officer from 6 October 2025

    The Monetary Authority of Singapore has appointed Ms Abigail Ng as Chief Sustainability Officer, effective 6 October 2025, succeeding Ms Gillian Tan. This leadership transition reflects the maturation of MAS’ sustainability agenda, with Ms Ng bringing experience from her role as head of the Markets Policy & Consumer Department. Ms Tan will continue as Group Head of the Development & International Group.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-09-29South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission rolls out one-off credit recovery support to expunge overdue debt history for up to 3.7 million borrowers

    The South Korea Financial Services Commission will launch a credit recovery support program from September 30, expunging overdue debt history for delinquent debtors who fully repay by December 2025. Eligible individuals and business owners with debts up to KRW50 million can benefit, potentially improving credit scores by 40 points for individuals and 31 points for business owners. Additionally, the FSC plans a long-term debt restructuring program to enhance inclusive finance support.

    Policy & regulationImplementation, projects & pilotsLending
  • 2025-09-29EstoniaCentral Bank of Estonia

    Central Bank of Estonia conference highlights digital euro as EU-controlled alternative to non-European payment providers

    The Central Bank of Estonia hosted a conference on the digital euro, highlighting its potential to support euro area payments and enhance strategic independence amid declining cash use. Keynote speakers from the European Commission and the European Central Bank emphasized readiness for a digital legal tender, though a final decision is pending. The digital euro is envisioned as a complement to cash, built on European infrastructure to ensure resilience and usability during disruptions.

    Policy & regulationCooperationCBDC
  • 2025-09-29VietnamVietnam State Securities Commission

    Vietnam State Securities Commission issues coordination rules for simultaneous IPO and stock listing review

    The Vietnam State Securities Commission has introduced a coordination framework with the Ho Chi Minh Stock Exchange to streamline the review of IPO and stock listing registration dossiers, aiming to expedite share trading post-IPO. This framework, implementing Article 111a of Decree 155/2020/ND-CP as amended by Decree 245/2025/ND-CP, involves parallel reviews and coordinated exchanges of financial and charter documents.

    Policy & regulationCooperationSecurities offerings and listings
  • 2025-09-29BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission publishes Q2 2025 enforcement activity report as warning letters more than double and stop orders rise to 10

    The Brazil Securities Commission (CVM) reported a significant rise in early-stage supervisory interventions in Q2 2025, with warning letters more than doubling to 115 and stop orders increasing to 10. The CVM initiated 26 investigative procedures, resulting in 21 ordinary and three simplified statements of charges, and concluded 20 proceedings with accusations. The Board approved 11 settlement agreements totaling BRL 9.44 million and imposed fines of BRL 2,508,919.60 in 10 sanctioning proceedings, while referring 23 cases to public prosecutors for suspected crimes.

    EnforcementEnforcement statisticsOther
  • 2025-09-29GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission issues Iran sanctions notice listing designated persons subject to asset freeze

    The Guernsey Financial Services Commission issued an Iran sanctions notice designating various individuals and entities under the UK's Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, effective in Guernsey. Designated banks, energy, and industrial companies, along with nine individuals, face an asset freeze and will appear on the consolidated list. Businesses must freeze relevant assets, report to the States of Guernsey Policy & Resources Committee, and submit a Handbook Rule 12.37 report to the Commission.

    Policy & regulationRules & requirementsNew sanctions designations
  • 2025-09-29SwitzerlandSwiss National Bank

    Swiss National Bank and European Central Bank launch exploration phase to assess interlinking of SIC instant payments and TIPS

    The Swiss National Bank and the European Central Bank have initiated an exploration phase to assess the feasibility of interlinking Switzerland’s SIC system with the Eurosystem’s TARGET Instant Payment Settlement service. This project aims to enable cross-currency instant payments and enhance the speed, cost, transparency, and accessibility of cross-border transactions.

    Policy & regulationCooperationCross-border payments
  • 2025-09-29SwitzerlandSwiss National Bank

    Swiss National Bank joins Swiss and US authorities in joint statement reaffirming non-competitive foreign exchange practices

    The Swiss National Bank, Swiss Federal Department of Finance, and US Department of the Treasury issued a joint statement reaffirming their commitment to not targeting exchange rates for competitive purposes, aligning with IMF and G20 principles. The statement emphasizes foreign exchange interventions as a key SNB monetary policy tool for price stability. Additionally, the SNB and Swiss Federal Department of Finance have been in dialogue with the US Department of the Treasury on macroeconomic and financial matters since 2022.

    Policy & regulationGuidance & interpretationForeign exchange policy and markets
  • 2025-09-29PhilippinesPhilippine Securities and Exchange Commission

    Philippine Securities and Exchange Commission and Financial Sector Forum complete fourth supervisory college for financial conglomerates and plan a fifth in the second half of 2025

    The Philippine Securities and Exchange Commission announced the completion of the Financial Sector Forum's Fourth Financial Conglomerate Supervisory College, aimed at enhancing consolidated monitoring of financial conglomerates. The programme involved cross-agency collaboration to assess risks, align supervisory frameworks, and develop a joint supervisory plan. FSF principals agreed to initiate a fifth supervisory college in late 2025.

    SupervisionCooperationSupervision process and methodologies
  • 2025-09-29GlobalUnited Nations Environment Programme Finance Initiative

    United Nations Environment Programme Finance Initiative highlights five COP30 negotiation outcomes that could shape global finance

    The United Nations Environment Programme Finance Initiative (UNEP FI) released a policy note ahead of COP30 in Belém, Brazil, highlighting five key negotiation areas impacting investment environments and climate strategy credibility. These include updated Nationally Determined Contributions (NDCs) due by 2025, climate finance mobilization goals, sustainable finance taxonomy expansion, and finalization of Article 6.4 carbon market rules. COP30 will focus on these areas, particularly just transition governance and NDC updates.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-09-29Malaysia (Labuan)Labuan Financial Services Authority

    Labuan Financial Services Authority hosts Malaysia’s Minister of Finance II to discuss captive insurance expansion and sukuk tokenisation

    The Labuan Financial Services Authority hosted Malaysia’s Minister of Finance II, Yang Berhormat Senator Datuk Seri Amir Hamzah Azizan, to discuss the Labuan International Business and Financial Centre's strategic initiatives. Key topics included advancing the insurance sector, exploring Islamic finance innovation through sukuk tokenisation, and developing the Labuan International School. This visit was part of the Minister's broader engagement with Ministry of Finance agencies in Labuan.

    Policy & regulationCooperationOther
  • 2025-09-29Malaysia (Labuan)Labuan Financial Services Authority

    Labuan Financial Services Authority marks Labuan IBFC 35th anniversary and outlines next five-year blueprint

    The Labuan Financial Services Authority celebrated the 35th anniversary of the Labuan International Business and Financial Centre, noting its growth to nearly 5,000 companies and over 800 licensed financial institutions. The centre's contributions to Islamic finance and digital fundraising, including the Islamic Digital Asset Centre and RAMZ, were highlighted. As the Labuan IBFC Strategic Roadmap 2022–2026 concludes, a new five-year plan is being developed to enhance niche sectors and intra-ASEAN linkages.

    Policy & regulationReform agendas & prioritiesOther
  • 2025-09-29KyrgyzstanNational Bank of the Kyrgyz Republic

    National Bank of the Kyrgyz Republic holds financial literacy outreach in Jalal-Abad and briefs on QR code payment standards

    The National Bank of the Kyrgyz Republic's Jalal-Abad regional office conducted a financial literacy lecture in Ala-Buka village, focusing on the central bank's role and updates on payments and QR code transactions. The session covered the bank's functions, numismatic products, and gold bullion bars, along with the state of the payment system and QR code development in the Kyrgyz Republic.

    Financial literacy & educationFinancial literacy and education
  • 2025-09-29KyrgyzstanNational Bank of the Kyrgyz Republic

    National Bank of the Kyrgyz Republic showcases unified QR-code payments and the digital som agenda at the OIC-COMCEC Central Banks Forum

    The National Bank of the Kyrgyz Republic's Chairman, Melis Turgunbaev, addressed the 7th OIC-COMCEC Central Banks Forum in Istanbul, discussing Kyrgyzstan's QR-based payment interoperability and central bank digital currency (CBDC) initiatives. Kyrgyzstan is the only Central Asian country with inter-system QR code integration based on a national standard. Turgunbaev also met with the Central Bank of Turkey's Governor to explore bilateral cooperation and potential integration of national payment systems.

    Policy & regulationImplementation, projects & pilotsCross-border cooperationPayments and payment systems
  • 2025-09-29GlobalIslamic Financial Services Board

    Islamic Financial Services Board urges stronger policy alignment among OIC members at OIC-COMCEC Central Banks Forum

    The Islamic Financial Services Board (IFSB) attended the 7th OIC-COMCEC Central Banks Forum in Istanbul. Secretary-General Dr. Ghiath Shabsigh stressed stronger cooperation among OIC members. Discussions covered the global economic outlook, trade fragmentation, geopolitical risks, and the OIC-2025 Programme, highlighting Islamic finance's role in resource mobilization and market strengthening. The IFSB is ready to support member countries in enhancing financial infrastructure and regulatory frameworks.

    Policy & regulationCooperationCross-border cooperation
  • 2025-09-29GlobalIslamic Financial Services Board

    Islamic Financial Services Board announces Central Bank of Oman will host the 17th IFSB Summit in Muscat in February 2026

    The Islamic Financial Services Board announced that the Central Bank of Oman will host the 17th IFSB Summit in Muscat from 2 to 4 February 2026. The summit will focus on the future of Islamic finance, covering topics such as disruptions, non-bank financial sector strengthening, Sukuk market enhancement, and financial inclusion. A pre-summit day will feature public participation and industry exhibitions.

    Policy & regulationCooperation
  • 2025-09-29GlobalSWIFT

    SWIFT to develop a blockchain-based shared ledger with over 30 banks to enable real-time 24/7 cross-border payments

    Swift will integrate a blockchain-based shared ledger into its infrastructure to facilitate regulated tokenised value movement across digital ecosystems, initially focusing on real-time 24/7 cross-border payments. Consensys will develop a prototype, and Swift will later define further phases, with plans to collaborate with global institutions on implementation and transaction orchestration across various networks.

    Institutional developmentTechnology & data transformationBlockchain and distributed ledger technologyPayments and payment systems
  • 2025-09-29United StatesU.S. Senate Committee on Banking, Housing and Urban Affairs

    U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren urges HUD inspector general investigation after housing civil rights whistleblowers are fired and suspended

    Senator Elizabeth Warren accused the Trump Administration of firing and suspending whistleblowers concerned about dismantling civil rights enforcement in housing. She referred these claims to the Department of Housing and Urban Development’s Acting Inspector General for an independent investigation, describing the actions as a systemic attack on fair housing and civil rights.

    EnforcementWhistleblowing
  • 2025-09-29GlobalISDA

    International Swaps and Derivatives Association sets out carbon market priorities and nears update to carbon credit trading definitions

    ISDA stressed the need for mature, globally consistent carbon markets amid rising AI energy demands, highlighting four key components for a functional global voluntary carbon market. ISDA welcomed EU efforts to simplify sustainable finance rules and noted the European Commission's proposal for limited international credits from 2036, while advancing legal frameworks and documentation standards for carbon credit transactions.

    Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
  • 2025-09-29GlobalISDA

    International Swaps and Derivatives Association publishes interview on close-out netting enforceability in Saudi Arabia under Saudi Central Bank rules

    The International Swaps and Derivatives Association (ISDA) published an interview with Yazeed Alnafjan, deputy governor for financial innovation at the Saudi Central Bank, highlighting the importance of netting enforceability in Saudi Arabia following ISDA's legal opinions affirming the enforceability of close-out netting under Saudi Central Bank regulations.

    Policy & regulationGuidance & interpretation
  • 2025-09-29Middle EastMiddle East and North Africa Financial Action Task Force (MENAFATF)

    Middle East and North Africa Financial Action Task Force and the World Gold Council convene workshop on gold-sector money laundering and terrorist financing risks

    The Middle East and North Africa Financial Action Task Force, in collaboration with the World Gold Council, conducted a workshop addressing money laundering and terrorist financing risks in the gold sector, emphasizing the need for strengthened legal frameworks and international cooperation.

    Policy & regulationCooperationAML and CFTMarket abuse
  • 2025-09-29RussiaCentral Bank of Russia

    Central Bank of Russia replaces the Basel LCR with a National Liquidity Coverage Ratio for systemically important credit institutions

    The Central Bank of Russia has introduced a National Liquidity Coverage Ratio (NLCR) for systemically important credit institutions, effective 30 October 2025, replacing the Basel Liquidity Coverage Ratio. The NLCR reflects the Russian financial market's specifics, including an expanded set of high-quality liquid assets and updated cash outflow rates. SICIs will report NLCR data using the existing Basel LCR form until the new form is implemented in January 2026.

    Policy & regulationRules & requirementsLiquidity riskPrudential risks
  • 2025-09-29RussiaCentral Bank of Russia

    Central Bank of Russia reports pawnshops issued RUB 190 billion in loans in 2025 H1 and effective interest rates declined in Q2

    The Central Bank of Russia reported a rise in pawnshop loans in the first half of 2025, totaling RUB 190 billion, with borrower numbers increasing by 12%. Following the end of the moratorium on the effective interest rate for microloans, pawnshop loan interest rates fell in Q2 2025, with 75% of new microloans having an EIR below 100% per annum. Pawnshops continue to screen customers and collateral, rejecting loans with ownership doubts or missing documents.

    Data & statisticsLending
  • 2025-09-29EuropeEuropean Banking Federation

    European Banking Federation urges EFRAG to further streamline ESRS sustainability reporting and better reflect banks’ specificities

    The European Banking Federation (EBF) responded to EFRAG's consultation on revised European Sustainability Reporting Standards (ESRS), advocating for streamlined reporting to reduce banks' burdens while maintaining material information. Key recommendations include flexibility in GHG emission targets, consistent relief for missing data, and a phased approach to "anticipated financial effects" disclosures. The EBF emphasizes adaptable value chain reporting for financial institutions and cautions against assuming fewer data points will lessen reporting efforts.

    Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
  • 2025-09-29CanadaNew Brunswick Financial & Consumer Services Commission

    Financial and Consumer Services Commission of New Brunswick reminds businesses to report and remit unclaimed monetary property via FundsFinderNB.ca

    The Financial and Consumer Services Commission of New Brunswick reminded businesses to comply with the Unclaimed Property Act by reviewing and reporting unclaimed monetary property, such as uncashed cheques and unpaid wages. Businesses must attempt to notify owners before reporting and remitting funds through FundsFinderNB.ca during the annual reporting period from January 1 to March 31.

    Policy & regulationGuidance & interpretationOther
  • 2025-09-29HungaryNational Bank of Hungary

    National Bank of Hungary Governor Varga highlights the bank’s use of artificial intelligence and warns Europe risks falling behind

    Governor Mihály Varga of the National Bank of Hungary emphasized at the AI Workshop that AI is transforming the global economy and labor markets, with the bank using AI to boost analytical efficiency. Varga warned the EU risks lagging behind due to concentrated AI developments in the U.S. and Asia, noting AI's potential impact on 25% of jobs by 2030, focusing on task transformation over job replacement. He urged collaboration between state and market actors to advance Hungary's AI adoption.

    Policy & regulationOtherArtificial intelligence
  • 2025-09-29CanadaFinancial Consumer Agency of Canada

    Financial Consumer Agency of Canada imposes CAD 5.5 million penalty on Toronto-Dominion Bank for inaccurate cost of borrowing disclosures

    The Financial Consumer Agency of Canada imposed a CAD 5.5 million penalty on Toronto-Dominion Bank for violating the Bank Act by failing to provide accurate cost of borrowing disclosures. The breach, affecting 160,658 loan accounts from 2001 to 2024, resulted in a financial impact of over CAD 12.1 million, which TD has reimbursed. FCAC expects federally regulated financial institutions to review and apply the findings to their practices.

    EnforcementInvestigations & enforcement actionsConsumer and investor protection
  • 2025-09-29FinlandFinanssivalvonta

    Finland’s Financial Supervisory Authority finds rising rejections and terminations for legal-person accounts and issues de-risking recommendations to banks

    The Finnish Financial Supervisory Authority (FIN-FSA) released a review on de-risking, noting increased rejection rates for legal-person account applications and terminations due to anti-money laundering (AML) obligations. It identifies gaps in banks' documentation and monitoring, recommending better statistics compilation and adherence to processing timelines. FIN-FSA will continue supervising banks with inadequate practices and assess risk management's impact on financial inclusion.

    SupervisionReviews, inspections & stress testsAML and CFTFinancial inclusion
  • 2025-09-29EgyptEgypt Financial Regulatory Authority

    Egypt Financial Regulatory Authority announces long-term insurance awareness campaign and steps up action against unlicensed non-banking finance activity

    The Egypt Financial Regulatory Authority (FRA) launched a long-term campaign to raise insurance awareness, with future campaigns for capital markets and non-banking finance. FRA Chair Mohamed Farid emphasized priorities like Basel III-aligned solvency standards for non-banking finance and tighter consumer finance regulation. Other initiatives include updates to Egyptian Accounting Standards, growth in gold investment funds, and regulation of digital platforms for real estate fund certificates.

    Financial literacy & educationFinancial and market indicatorsSupervision process and methodologies
  • 2025-09-29United StatesFederal Reserve Board

    United States Federal Reserve Board Governor Waller promotes regulated stablecoins and highlights DLT and AI as next frontier for payments

    Federal Reserve Board Governor Christopher J. Waller, in his Sibos 2025 speech, discussed emerging technologies like stablecoins, distributed ledger technology, and AI to enhance payment efficiency, stressing the need for consumer and financial system safeguards. He highlighted stablecoins as new private money, contingent on regulatory protections, and explored DLT-enabled cross-border payment models. Waller emphasized the Federal Reserve's role in supporting innovation through stakeholder engagement, regulatory clarity, and research on tokenization and AI.

    Policy & regulationGuidance & interpretation
  • 2025-09-29CanadaBritish Columbia Securities Commission

    British Columbia Securities Commission compliance report card finds 130 deficiencies in Client Focused Reforms reviews led by know-your-client and suitability gaps

    The British Columbia Securities Commission's Compliance Report Card highlights a 2024 review of B.C. registered firms' adherence to Client Focused Reforms. The review found 130 deficiencies across 19 compliance reviews, with know-your-client and suitability issues most prevalent. Significant failures led to registration conditions, compliance actions against two dealer firms, and four referrals to the Enforcement Division.

    SupervisionReviews, inspections & stress testsKYC
  • 2025-09-29CanadaBritish Columbia Securities Commission

    British Columbia Securities Commission collects CAD 30,000 from former RoccaVerde CEO over illegal securities distributions

    The British Columbia Securities Commission (BCSC) announced that Arthur Griffiths, former director and CEO of RoccaVerde Wellness Corporation, paid CAD 30,000 for misconduct related to illegal securities distribution. RoccaVerde raised CAD 192,600 without a prospectus or exemption, using finders to solicit investors, many of whom were not accredited. Griffiths admitted insufficient compliance with the Securities Act, resulting in total investor losses.

    EnforcementInvestigations & enforcement actionsSecurities offerings and listings
  • 2025-09-29ChileChile Financial Market Commission

    Chile Financial Market Commission launches consultation on condominium fire insurance rules and mortgage insurance tender amendments

    The Chile Financial Market Commission is consulting on a proposed regulation for fire insurance in condominiums under the new Law on Housing Co-ownership (Law No. 21,442). It aims to streamline insurance policies to prevent duplicative premiums and amend General Rule No. 469 to align coverage with lender requirements. The proposal mandates that compensation for partial damage to mortgaged units be used for repairs before mortgage repayment.

    Policy & regulationRules & requirements
  • 2025-09-29ChileChile Financial Market Commission

    Chile Financial Market Commission publishes August 2025 banking and cooperatives report showing 2.03% real annual loan growth in banks

    The Chile Financial Market Commission's August 2025 report highlights accelerated lending growth, eased credit risk, and improved bank profitability. Total bank loans reached USD 284,647 million, with consumer lending recovery driving a 2.03% real-term increase over 12 months. Savings and credit cooperatives saw a slight loan decline, with a consumer portfolio share of 69.38% growing 4.74% in real terms over the year.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-09-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission seeks comment on exemptive relief for a multi-class fund structure combining ETF and mutual fund shares

    The U.S. Securities and Exchange Commission seeks public comment on an application for exemptive relief to allow a multi-class ETF structure, enabling a single fund to offer both exchange-traded and mutual fund shares. The proposal aims to enhance investor choice, operational efficiency, and tax treatment, with safeguards like board oversight and conflict monitoring. This notice indicates the SEC's preliminary determination to grant relief, pending public input.

    Policy & regulationOtherSecurities offerings and listings
  • 2025-09-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Commissioner Uyeda calls for SEC-CFTC harmonization to avoid duplicative oversight of blockchain, AI and DeFi

    SEC Commissioner Mark T. Uyeda noted at an SEC-CFTC roundtable that innovations like blockchain, AI, and decentralized finance blur lines between securities and commodities, risking overlapping jurisdiction and duplicative regulation. He urged coordination on functional risks and existing mitigants before new jurisdictional claims. Uyeda cited the CFTC's 2012 amendments as a cautionary tale, noting dual registration and increased costs without clear benefits.

    Policy & regulationCooperation
  • 2025-09-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission Commissioner Crenshaw urges mission-led SEC-CFTC regulatory harmonization

    U.S. Securities and Exchange Commission Commissioner Caroline A. Crenshaw emphasized at an SEC-CFTC roundtable that regulatory harmonization should not overshadow each agency's statutory mission, particularly investor protection. She highlighted the distinct missions of the SEC and the Commodity Futures Trading Commission, warning against harmonization efforts that could undermine statutory mandates or blur market differences.

    Policy & regulationGuidance & interpretationRegulatory burden
  • 2025-09-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities and Exchange Commission chair outlines SEC-CFTC harmonization agenda to reduce duplicative regulation

    SEC Chairman Paul S. Atkins stressed the need for closer coordination with the CFTC to reduce regulatory duplication and provide clarity for market participants. He emphasized harmonization, not a merger, to address costs and inefficiencies from regulatory fragmentation. Atkins invited industry input and signaled ongoing dialogue with the CFTC, Congress, and the Administration.

    Policy & regulationCooperationRegulatory burden
  • 2025-09-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission staff issues DoubleZero no-action letter on DePIN token distributions

    The U.S. Securities & Exchange Commission’s Division of Corporation Finance issued a no-action letter regarding DoubleZero’s token distributions for a decentralized physical infrastructure network. Commissioner Hester M. Peirce highlighted the engagement with innovation while adhering to the SEC’s mandate, arguing that these tokens serve as functional incentives rather than securities, thus not satisfying the Howey test.

    Policy & regulationGuidance & interpretationTokenization
  • 2025-09-29NorwayNorwegian Finanstilsynet

    Norwegian Finanstilsynet imposes NOK 100000 penalty on Borea Asset Management for late major holding disclosure in Sparebanken Møre

    Norwegian Finanstilsynet imposed a NOK 100,000 penalty on Borea Asset Management AS for late disclosure of crossing the 5% threshold in Sparebanken Møre equity certificates. The breach was due to inadequate monitoring systems, though no financial gain or market impact was noted. Borea did not contest the penalty, which will be published on Finanstilsynet’s website.

    EnforcementInvestigations & enforcement actionsCorporate governance
  • 2025-09-29CanadaAlberta Securities Commission

    Alberta Securities Commission imposes two-year market participation ban and CAD 30,000 penalty on James Domenic Floreani and Jayconomics Inc

    The Alberta Securities Commission (ASC) has banned James Domenic Floreani and Jayconomics Inc. from the Alberta capital market for two years due to Securities Act breaches related to undisclosed promotions. An ASC panel imposed a CAD 30,000 penalty and CAD 10,185.10 in costs, prohibiting investor relations activities and public dissemination of securities information until payment. The decision highlights risks posed by "finfluencers" when disclosure is lacking, affecting investor confidence and market integrity.

    EnforcementInvestigations & enforcement actions
  • 2025-09-29CanadaAlberta Securities Commission

    Alberta Securities Commission bans James Domenic Floreani and Jayconomics from Alberta capital markets for two years over undisclosed issuer promotion

    The Alberta Securities Commission (ASC) has barred James Domenic Floreani and Jayconomics Inc. from Alberta’s capital market for two years due to breaches of the Securities Act (Alberta) related to undisclosed online promotion of securities. The ASC imposed a CAD 30,000 administrative penalty and CAD 10,185.10 in costs, prohibiting the respondents from investor relations activities and securities promotion until the penalty is paid.

    EnforcementInvestigations & enforcement actions
  • 2025-09-29United StatesFinancial Crimes Enforcement Network

    United States' Financial Crimes Enforcement Network seeks comments on proposed survey of AML CFT compliance costs for non-bank financial institutions

    The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) seeks feedback on a proposed survey to assess compliance costs with AML/CFT requirements for non-bank financial institutions. Targeting sectors like casinos, money services businesses, and insurance companies, it aims to inform deregulatory proposals. FinCEN clarified the survey data won't be used for supervisory or enforcement purposes.

    Policy & regulationImplementation, projects & pilotsRegulatory reporting
  • 2025-09-29GlobalSWIFT

    SWIFT launches development of a blockchain-based shared ledger to support real-time 24/7 cross-border payments

    SWIFT is integrating a blockchain-based shared ledger into its infrastructure to enable instant, 24/7 cross-border transactions and support regulated tokenised value movement. Collaborating with over 30 financial institutions, SWIFT aims to develop a secure, interoperable ledger with Consensys, alongside solutions for interoperability between distributed ledger technology and fiat currency systems.

    Policy & regulationImplementation, projects & pilotsBlockchain and distributed ledger technologyPayments and payment systems
  • 2025-09-29SwitzerlandFederal Department of Finance (Switzerland)

    Switzerland's Federal Department of Finance joins Swiss National Bank and US Treasury in statement reaffirming non-competitive exchange rate practices

    Switzerland’s Federal Department of Finance, the Swiss National Bank, and the US Department of the Treasury issued a joint statement reaffirming their commitment to not targeting exchange rates for competitive purposes and adhering to International Monetary Fund principles. The statement clarifies that foreign exchange interventions are a key monetary policy tool for the Swiss National Bank to ensure price stability, while noting it is not legally binding. Swiss authorities have been in dialogue with the US Treasury on macroeconomic and financial matters since 2022.

    Policy & regulationCooperationForeign exchange policy and markets
  • 2025-09-29United StatesU.S. Department of the Treasury

    U.S. Department of the Treasury, Swiss Federal Department of Finance and Swiss National Bank reaffirm non-competitive exchange rate commitments and FX transparency practices

    The U.S. Department of the Treasury and Swiss authorities reaffirmed commitments to avoid exchange rate manipulation for competitive purposes, emphasizing transparency and regular disclosure of foreign exchange interventions. Both nations agreed that foreign exchange intervention is suitable for addressing excessive volatility, while macroprudential measures should not target exchange rates. The U.S. reiterated its G7 commitment to focus fiscal and monetary policies on domestic goals.

    Policy & regulationCooperationForeign exchange policy and markets
  • 2025-09-29DenmarkNational Bank of Denmark

    National Bank of Denmark data show households buying DKK 25.5bn of equity funds since 2024 and holding most foreign stocks via Danish funds

    The National Bank of Denmark reports a shift in Danish households' investments from bond funds to equity funds since 2024, accelerating from May 2025. Households have purchased DKK 25.5 billion in equity funds and sold DKK 14.6 billion in bond funds, while reducing direct stock and bond holdings by DKK 8 billion and DKK 5 billion, respectively. Total household investment in funds is DKK 570 billion, with significant allocations to American and Danish stocks.

    Data & statisticsFinancial and market indicators
  • 2025-09-29MoldovaNational Bank of Moldova

    National Bank of Moldova reports MDL 4,281.4 million in new term deposits in August 2025 and slightly higher average rates

    The National Bank of Moldova reported that new term deposits in August 2025 totalled MDL 4,281.4 million, an 11.4% increase from July, with average nominal deposit rates slightly rising. MDL-denominated deposits comprised 72.3% of the total, while household deposits grew by 46.8% year-on-year in MDL. Corporate deposits increased by 31.9% month-on-month but declined year-on-year by 12.7% in MDL and 27.8% in foreign currency.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-09-29MoldovaNational Bank of Moldova

    National Bank of Moldova discusses SEPA connectivity and prudential equivalence with the European Commission at the Vienna Initiative Full Forum

    The National Bank of Moldova (NBM) attended the Vienna Initiative Full Forum 2025 in Brussels, discussing Moldova's European financial integration and SEPA connectivity with the European Commission. Governor Anca Dragu met with John Berrigan, Director-General for Financial Stability, Financial Services and Capital Markets Union, to focus on cooperation in the integration process. The Brussels programme included meetings with key EU officials on financial stability and alignment with European standards.

    Policy & regulationCooperationCross-border cooperation
  • 2025-09-29MoldovaNational Bank of Moldova

    National Bank of Moldova reports August 2025 new lending fell 7.6% to MDL 6,480.1 million

    The National Bank of Moldova reported a 7.6% decrease in new loans for August 2025, totaling MDL 6,480.1 million, with leu-denominated loans comprising 73.3% and declining by 10.9%. The average nominal rate on leu-denominated loans rose to 9.38%, while foreign-currency loans increased to 5.34%. Household loans decreased by 5.2% to MDL 2,469.6 million, with consumption lending at 60.7%, and new lending to legal entities fell 9.0% to MDL 3,949.5 million.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-09-29MoldovaNational Bank of Moldova

    National Bank of Moldova reports bank cash withdrawals exceeded receipts by MDL 3,800.7 million in January–August 2025

    The National Bank of Moldova reported that cash withdrawals from banks' cash desks totaled MDL 123,915.8 million from January to August 2025, surpassing cash receipts by MDL 3,800.7 million. Cash receipts increased by 5.0% year-on-year, driven by consumer goods sales and cash credited to individuals' accounts. Cash withdrawals rose by 4.9% compared to the previous year, including transactions in commemorative coins.

    Data & statisticsCurrency and cash management
  • 2025-09-29EuropeSingle Resolution Board

    Single Resolution Board publishes infographic marking 10 years of the Single Resolution Mechanism and the €80 billion Single Resolution Fund

    The Single Resolution Board released an infographic marking the 10th anniversary of the Single Resolution Mechanism, highlighting its role in managing bank failures and shifting losses to shareholders and creditors. The infographic notes the Single Resolution Fund, financed by the banking industry, now stands at €80 billion. The SRM, in collaboration with national authorities, supports financial stability and confidence in the banking system.

    Policy & regulationOtherRecovery and resolution
  • 2025-09-29BahamasCentral Bank of the Bahamas

    Central Bank of the Bahamas launches Monthly Economic and Financial Developments series and reports August 2025 liquidity and reserve declines

    The Central Bank of the Bahamas released its August 2025 report, noting slower domestic activity, tighter banking liquidity, and declining external reserves. The Bank will maintain an accommodative policy for private sector credit while monitoring foreign exchange. Tourism earnings growth slowed, with visitor arrivals down 3.3% year-on-year in July, and unemployment rose to 10.8% in Q1 2025.

    Data & statisticsEconomic data and developments
  • 2025-09-29United Arab EmiratesCentral Bank of the UAE

    Central Bank of the UAE and Dubai Finance sign MoU to support AED government bond issuance and capital market development

    The Central Bank of the UAE and Dubai Finance signed a memorandum to enhance cooperation in developing the UAE's capital markets. The agreement allows Dubai Finance to use the Central Bank's infrastructure for issuing AED-denominated government bonds and covers financial technology, payment systems, and a central bank digital currency platform. It also includes initiatives for financial inclusion and capacity-building through training and expertise exchange.

    Policy & regulationCooperationCross-border cooperation