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2025-09-24•Colombia•Superintendencia Financiera de Colombia
Juan Guillermo Aguilar of Colombia's Financial Superintendence stressed risk-based regulation at the 10th International LAFT América Congress. He discussed initiatives like open finance and regulatory optimization, emphasizing robust prevention under SARLAFT. Aguilar highlighted the economic impact of money laundering risks and the need for tailored prevention tools and controls.
SupervisionSupervision approach, priorities & toolkitAML and CFT
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2025-09-24•United States•Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas' Q3 2025 Energy Survey indicates a slight decline in oil and gas activity and production, with stable employment but rising cost pressures. The lease operating expense index increased to 36.9, and the finding and development costs index rose to 22.0. Elevated uncertainty led 78% of executives to delay investment decisions.
ResearchEconomic data and developments
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2025-09-24•Sweden•Riksbank
Sweden's Riksbank announced that First Deputy Governor Anna Breman will depart on 10 October to become Governor of the Reserve Bank of New Zealand. The Riksbank’s General Council will soon start recruiting a new Executive Board member. Until then, the Executive Board will operate with four members, with the Governor holding a casting vote in case of a tie.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-24•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency hosted European Commission financial services commissioner Marie Luís Albuquerque to discuss insurance sector challenges and the Savings and Investments Strategy. Key topics included Slovenia's earthquake insurance gap, regulatory reporting simplification, pension reform, and ESG reporting challenges. Albuquerque announced upcoming European Commission initiatives on pensions and financial literacy.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-09-24•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency released an explainer on the evolution of insurance from early risk-sharing to modern regulated markets, focusing on Slovenia's development. It covers historical milestones, the impact of crises on regulation, Slovenia's transition from mutual aid to domestic insurers, post-war nationalisation, and liberalisation post-1991. The publication also outlines the establishment of the Slovenia Insurance Supervision Agency and its alignment with European Union standards.
Other
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2025-09-24•Australia•Reserve Bank of Australia
The Reserve Bank of Australia's 2025 Assessment of ASX Clearing and Settlement Facilities found ASX not meeting expectations for critical market infrastructure, citing risk management shortcomings and calling for governance and cultural changes. Recommendations include addressing risk appetite gaps, enhancing business continuity, and improving data controls, with the RBA monitoring progress and considering further regulatory actions if needed.
SupervisionReviews, inspections & stress testsMarket infrastructureSupervision process and methodologies
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2025-09-24•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about several websites not linked to any authorised investment service providers under Article 5 of Law 87(I)/2017. CySEC advises investors to verify firm licensing via its register before engaging in business.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-24•Global•Ceres
Ceres President and CEO Mindy Lubber emphasized climate change as a material financial risk at Climate Week NYC 2025, urging continued integration of climate considerations despite political resistance. She noted significant climate-related economic damages and projected global clean energy investments of USD 2.2 trillion in 2025. Lubber also addressed challenges like claims against fiduciary duty, restrictive state bills, and congressional proposals limiting shareholder engagement.
Financial literacy & educationClimate risk and sustainable finance
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2025-09-24•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to the Russia financial sanctions regime, as released by the Isle of Man Treasury, Customs and Immigration Division. Firms are directed to the Treasury’s Sanctions and Export Control webpage for current notices and can subscribe to alerts for ongoing updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-09-24•Global•Bank for International Settlements
The Bank for International Settlements released a working paper proposing a two-stage AI framework for financial market monitoring, combining an interpretable recurrent neural network (RNN) with a large language model (LLM). Demonstrated on foreign exchange markets, it forecasts and explains market dysfunction using deviations from triangular arbitrage parity in the Euro-Yen currency pair. The paper highlights the model's ability to predict elevated dysfunction risk and plans to release code via the BIS gingado open-source library.
ResearchArtificial intelligenceMarket risk and volatility
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2025-09-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Dana Orazbayeva as an executive member of JSC Teniz Capital Investment Banking. It also agreed to Olzhas Taubayev's appointment as an independent director and Gulnaz Musabayeva's appointment as chair of a board of directors for securities market roles.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported on a financial literacy forum at Turan University, focusing on financial fraud, personal finance, and informed investing. University leaders, police cybercrime units, and bank security specialists offered insights into fraud prevention, personal budgeting, and investment verification. The Kazakhstan Stock Exchange discussed market principles and risks for new investors, while an academic session explored financial psychology.
Financial literacy & educationFinancial and market indicatorsFinancial stability and systemic risk
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2025-09-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan has drafted a resolution to amend eight regulatory acts to enhance insurance regulation. Key proposals include insurer accountability for data accuracy, adjustments to "bonus-malus" calculations, expanded investment options for the Insurance Payments Guarantee Fund, mandatory disclosure of brokers' commission ranges, and requirements for issuing insurance policies.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Kanapyanov Chingiz Serzhanuly as a board member and independent director of JSC Bank of China in Kazakhstan.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-09-24•Middle East•Arab Monetary Fund
The Arab Monetary Fund, in collaboration with the Central Bank of Jordan, inaugurated the Jordan Fintech Festival 2025 in Amman, serving as a regional platform for discussions on digital finance and global trends. Concurrently, the AMF hosted its 14th Fintech Working Group meeting, focusing on digital payments, virtual assets, open finance, artificial intelligence, cybersecurity, and consumer protection.
Policy & regulationCooperationFintech and insurtechFinancial inclusion
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2025-09-24•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait announced the conclusion of the International Monetary Fund's periodic preliminary consultations with Kuwait under Article IV, with a link to the IMF mission’s concluding statement.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-09-24•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance has reopened Public Consultation No. 4/2025, extending the deadline to 29 September 2025. The consultation seeks feedback on a draft Regulatory Impact Analysis regarding flooding and inundation coverage in comprehensive residential insurance. Stakeholders are invited to comment on the methodology, dimensions, impacts, and scoring of alternatives to enhance market penetration.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan met with UAE-based Al Fardan Exchange to explore cooperation in foreign-exchange circulation, cash operations, and modern payment instruments. The discussions align with the central bank's goals of enhancing monetary and financial stability and strengthening the banking system. Al Fardan Exchange's AlfaNow unit showed interest in collaborating on financial services, money transfers, and payment-system improvements.
Policy & regulationCooperationOther
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2025-09-24•Spain•Bank of Spain
The Bank of Spain reported a 2.7% increase in net turnover for non-financial corporations in the first half of 2025, but a 4.6% decline in net ordinary profit, driven by the energy and oil-refining sectors. Despite positive sales growth, the ordinary return on net assets decreased to 4.7% from 5.0%. The profit decline was due to lower gross value added and higher staff costs, partially offset by increased financial income and reduced financial expenses.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-24•Europe•European Central Bank
The European Central Bank's Working Paper No 3120 examines the macroeconomic impacts of COVID-19 and the energy shock from Russia's invasion of Ukraine on the euro area. The study finds no structural break in March 2020, with supply chain disruptions as persistent cost-push shocks and energy supply shocks having a more transitory inflation effect. Sectoral analysis reveals heightened vulnerability in the automotive supply chain and energy-intensive industries during weak macroeconomic conditions.
Research
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2025-09-24•Europe•European Central Bank
The European Central Bank's working paper evaluates the climate impact of sustainability-related investment funds versus conventional funds, revealing that while green funds invest more in low-carbon sectors, their carbon footprints are similar. The analysis highlights inconsistencies between ESG labels and environmental outcomes, with significant greenwashing risks due to misleading fund naming. The paper suggests the need for stronger safeguards and clearer sustainability metrics to enhance accountability.
ResearchClimate risk and sustainable finance
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2025-09-24•Europe•European Central Bank
The European Central Bank's Economic Bulletin presents a dictionary-based daily index of "inflation attention" from over three million articles. Inflation attention has decreased from its 2022 peak but remains above pre-surge levels. The index, correlated with Harmonised Index of Consumer Prices inflation, shows energy inflation attention has normalized, while food inflation attention remains high, reflecting ongoing trends. This measure offers insights into inflation expectations and the transmission of monetary policy and shocks.
ResearchEconomic data and developments
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2025-09-24•Europe•European Central Bank
The European Central Bank's Economic Bulletin article examines euro cash demand during crises, revealing continued growth in banknote circulation despite digital payment trends. The analysis highlights sharp surges in cash demand linked to major events, such as the COVID-19 pandemic and geopolitical tensions, underscoring cash's role as a safe-haven and contingency payment method. The findings suggest operational and policy implications, including the need for robust cash supply systems and public guidance on maintaining cash reserves for emergencies.
ResearchCurrency and cash management
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2025-09-24•Europe•European Central Bank
The European Central Bank released quarterly data for EU27 credit institutions as of March 2025, showing a 1.54% increase in total assets to EUR 33.13 trillion and a slight rise in the non-performing loans ratio to 1.96%. The dataset, covering nearly 100% of the EU banking sector, includes indicators on profitability, balance sheet composition, and capital adequacy. It notes the use of International Financial Reporting Standards and the European Banking Authority’s standards, with some revisions to past data and Danish Q1 2025 values under quality review.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-24•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has launched a consultation on updated draft guidance for financial products with ethical characteristics, aiming to clarify ethical claims in disclosures and advertising to prevent misleading practices and greenwashing. The draft, which replaces previous frameworks, includes practical examples and is open for consultation until 7 November, with plans for industry collaboration post-finalization.
Policy & regulationGuidance & interpretationDisclosuresESG
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2025-09-24•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released a consultation paper on proposed guidance for ethical investing disclosure, with submissions due by 7 November 2025.
Policy & regulationGuidance & interpretationDisclosuresESG
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2025-09-24•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles, Financial Intelligence Unit, and Financial Services Authority have signed a joint anti-money laundering and countering the financing of terrorism (AML/CFT) Enforcement Policy to enhance the Seychelles AML/CFT supervisory framework. The policy ensures fair, consistent, and effective enforcement, aligning with international standards and promoting compliance with relevant legislation. The signing ceremony on 18 September 2025 was attended by the National AML/CFT Committee.
Policy & regulationGuidance & interpretationAML and CFT
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2025-09-24•Estonia•Central Bank of Estonia
The Supervisory Board of the Central Bank of Estonia has nominated Andrus Alber, Ülo Kaasik, Kilvar Kessler, and Margus Rink as candidates for Governor of Eesti Pank, a role that includes membership in the European Central Bank’s Governing Council. The final selection requires at least six votes from the 11-member board and confirmation by the President of Estonia. The governor's term is seven years, limited to a single consecutive term.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has launched a public consultation on a draft rule to replace Resolution CVM 88, modernizing exempt public offerings via crowdfunding platforms. Key proposals include expanding eligible issuers to CVM-registered securitisation companies and agricultural entities, removing revenue caps for unregistered businesses, and setting fundraising caps. The draft also proposes changes to investment limits, offer procedures, and disclosure requirements, with no prior regulatory impact analysis due to applicable exemptions.
Policy & regulationRules & requirementsCrowdfunding
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2025-09-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) board reviewed and rejected a commitment proposal by Silvio Tini de Araújo related to alleged irregularities in Alpargatas S.A. share trading. The board partially accepted a global proposal by Sebastian Kunert, approving a settlement in one case involving alleged fraudulent options trading, requiring reimbursements and a payment to the CVM, while rejecting another case related to unregistered portfolio management.
EnforcementInvestigations & enforcement actions
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2025-09-24•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia imposed a RM193,500 penalty on Syarikat S.M. Ziaudeen Sdn. Bhd. for non-compliance with due diligence requirements under the Money Services Business Act 2011. The penalty followed an on-site examination revealing failures in due diligence on high-risk transactions. SSMZ has paid the penalty and reported enhancements to its procedures and employee training.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-09-24•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia imposed a RM340,000 penalty on Alipay Malaysia Sdn. Bhd. (now AIMY Merchant Services Sdn. Bhd.) for failing to comply with sanctions screening obligations under the Financial Services Act 2013. The breaches involved delays in updating the internal sanctions database, affecting customer screening and reporting. Alipay has since revised its policies to address these issues.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-09-24•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan hosted a delegation from the National Bank of Georgia to enhance dialogue between their financial regulators under a bilateral cooperation framework. Discussions focused on Georgia's regulation of bond issuance by international financial organisations and securities systems operations. The visit follows a memorandum of understanding on monetary policy, financial stability, banking supervision, and financial technologies.
Policy & regulationCooperationCross-border cooperation
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2025-09-24•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay announced the winners of the seventh edition of its annual education contest focused on saving. First and second place were decided by a jury, while third place went to the video with the most likes on the BCP Educa Facebook account. More than 60 videos were submitted by secondary school students from across the country.
Financial literacy & educationFinancial literacy and education
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2025-09-24•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay published a breakdown of the Monthly Economic Activity Indicator, including sectoral series and versions excluding agriculture and binational entities. It also incorporated new technical specifications and a Paraguay-specific calendar-effect adjustment into the seasonal adjustment model.
Data & statisticsEconomic data and developments
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2025-09-24•Canada•Ontario Securities Commission
The Ontario Securities Commission will host a virtual roundtable, "OSC Roundtable: Pathways to Truth and Reconciliation," on October 21, 2025, to discuss its draft Action Plan. The event aims to gather input from rightsholders, Indigenous organizations, market participants, and other stakeholders. The panel will include representatives from Aboriginal Legal Services, Borden Ladner Gervais LLP, Cedar Leaf Capital, Indigenomics Institute, Canadian Securities Administrators, Scotiabank, and the First Nations Financial Management Board.
Policy & regulationReform agendas & prioritiesDiversity and inclusion
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2025-09-24•Canada•Ontario Securities Commission
The Ontario Securities Commission released an analysis on the impact of Canada's transition to a T+1 settlement cycle for listed securities. The research indicates that market participants adapted to the shorter settlement window without major disruption, with no significant change in failed-trade measures post-implementation. The analysis utilized TMX CDS data from January 2021 to June 2025.
Research
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2025-09-24•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC supports amending bank secrecy laws to enhance enforcement against corruption and securities violations. Pending bills would allow the Bangko Sentral ng Pilipinas to examine deposits suspected of fraud or unlawful activity. The SEC notes current bank secrecy limits investigations and that reforms align with international recommendations to improve AML/CFT effectiveness and tax transparency.
Policy & regulationReform agendas & prioritiesBribery and corruptionAML and CFT
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2025-09-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Batken office fined a Kyrgyz citizen KGS 17,500 for unlicensed cash foreign currency exchange operations.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-09-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has suspended the licence of the Green Money (OsOO) exchange bureau in Bishkek from 23 to 30 September 2025. The suspension is due to violations of Kyrgyz Republic legislation and the National Bank's regulatory legal acts.
EnforcementInvestigations & enforcement actions
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2025-09-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic suspended the licence of Elegans Exchange LLC’s currency exchange bureau in Bishkek for violations of Kyrgyz legislation and National Bank regulations. The suspension is effective from 23 September to 7 October 2025.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-09-24•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has initiated a public consultation on a draft Board resolution to establish minimum anti-fraud requirements for payment organizations and system operators. The draft is available on the National Bank's website and the Kyrgyz Republic's public discussion portal.
Policy & regulationRules & requirementsFraud and scams
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2025-09-24•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency (Hanfa) hosted its 8th annual conference on IPOs, emphasizing transparency and sustainability. Hanfa's 2024 Annual Report on Corporate Governance showed a 72% compliance rate, with achievements in leadership and risk management but weaker results in board appointments and CSR. The report highlighted the first year of sustainability reporting under new European standards, noting challenges in climate risk methodologies and supply chain management.
Policy & regulationGuidance & interpretationCorporate governance
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2025-09-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Elizabeth Warren and Elissa Slotkin have requested investigations into potential conflicts of interest involving David Sacks and Steve Witkoff, focusing on their roles in relaxing national security restrictions on AI shipments to the UAE. The inquiry highlights connections between the Trump family's cryptocurrency firm and UAE-linked deals, including a USD 2 billion investment in President Trump's stablecoin, USD1. These ties are pertinent as Congress deliberates digital asset market structure legislation.
EnforcementInvestigations & enforcement actionsOther
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2025-09-24•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren has requested information from Treasury Secretary Scott Bessent on plans to reprivatize Fannie Mae and Freddie Mac, highlighting concerns over agency leadership, policy goals, and protection of housing market and taxpayer interests. Warren emphasizes the need for Congressional involvement and calls for an impact assessment, including economic analysis and public input, before proceeding with any plan.
Policy & regulationOther
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2025-09-24•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper on a national digital infrastructure (NDI) for the financial market, focusing on identification, payments, and data exchange. The paper seeks input on criteria for government and market participant roles in NDI development and potential transfer of components to market participants. The NDI will be discussed at the Finopolis 2025 Forum in October.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-09-24•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) and the African Development Bank Group (AfDB) have partnered to boost private sector capital flows into Africa, focusing on investment attraction and strengthening capital markets through the GFANZ Africa Network. The initiative will raise investor awareness, gather private sector feedback, and explore financial and policy innovations, supported by Dr. Mahmoud Mohieldin and AfDB leadership.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-09-24•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission issued an investor alert warning that Quantiumax is not registered to deal or advise in securities in New Brunswick. The alert highlights the firm's operations via quantiumax.com and quantiumax.net, with locations in London and Singapore, and advises investors to avoid unregistered firms. It clarifies that the warning does not apply to other businesses with similar names and directs investors to resources for avoiding crypto asset fraud.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-24•Iceland•Central Bank of Iceland
The Central Bank of Iceland will release the Financial Stability Committee statement and Financial Stability Report via webcast on 24 September 2025, followed by a press conference featuring key officials.
Monetary policyOtherFinancial stability and systemic risk
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2025-09-24•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee assessed the financial system as resilient, maintaining the countercyclical buffer at 2.5%. Despite geopolitical risks and high global asset prices, systemically important banks show strong capital and liquidity, while domestic resilience is supported by modest credit growth and a sound equity position.
Policy & regulationRules & requirementsFinancial stability and systemic riskMacroprudential policy and tools
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2025-09-24•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Report 2025/2 keeps the countercyclical capital buffer at 2.5% to support bank resilience, highlighting macroeconomic risks like geopolitical tensions, fiscal sustainability concerns, and protectionist trade policies. Domestically, it notes a widening current account deficit, a strong króna, and resilient households and businesses, alongside the need to bolster cyber resilience and operational security in financial market infrastructure.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-09-24•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved REAL CONSULTING SA's prospectus for listing its existing common shares with voting rights on the Athens Stock Exchange.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-24•Chile•Chile Financial Market Commission
The Chile Financial Market Commission fined Chubb Seguros Chile S.A. and Chubb Seguros de Vida Chile S.A. UF 150 each for violating Article 12 of the Insurance Act and General Rule No. 470. The sanctions were due to their failure to respond to the Insurance Inquiry System (SICS) requests for 19 consecutive days, as required under Exempt Resolution No. 9,541.
EnforcementInvestigations & enforcement actionsCompliance
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2025-09-24•Chile•Chile Financial Market Commission
The Chile Financial Market Commission sanctioned Administradora Zeus Capital S.A. and Hedge Consultores S.A. for failing to submit quarterly financial information on time, violating General Rule No. 475. Zeus Capital was fined UF 250, while Hedge Consultores received a UF 70 fine. These submissions are crucial for maintaining updated data on private investment funds.
EnforcementSanctions & designationsAccounting and financial reporting
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2025-09-24•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released an inspection report on Solvang Revisjon AS, highlighting deficiencies in audit work and compliance. The review found insufficient audit evidence on inventories and revenues, errors in audit reports, inadequate client assessments, and independence breaches. Solvang Revisjon AS has begun implementing corrective measures.
SupervisionReviews, inspections & stress testsAuditing
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2025-09-24•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway (Finanstilsynet) released a report on DNB Group’s New York operations, highlighting increased risk from high credit growth in North American renewable energy. It emphasizes the need for robust risk management due to extensive group links and high political risk from reliance on support schemes. Finanstilsynet calls for improved processes to manage non-financial risks, including AML/CFT and IT risk, and notes plans to reduce settlement risk with the US central bank by establishing direct access in 2025.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-09-24•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority imposed a NOK 600,000 penalty on Unic Revisjon AS for breaches of the Norwegian Auditor Act due to insufficient audit evidence. The inspection revealed significant shortcomings in inventory and deferred tax asset audits, linked to inadequate internal policies and quality management. The penalty was reduced from NOK 750,000 after considering the firm's financial capacity, and Unic Revisjon AS has initiated remedial measures.
EnforcementSanctions & designationsAuditing
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2025-09-24•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission announced the retirement of Chief Operating Officer Ken Johnson in December 2025, concluding his tenure that began in December 2017. Johnson managed the SEC's operational and administrative functions and previously served as chief financial officer from 2010 to 2017. The SEC has not named a successor or provided transition details.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-24•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency's Mortgage Metrics Report for Q2 2025 shows a slight improvement in first-lien mortgage performance, with 97.5% current, up from 97.3% a year earlier. New foreclosures decreased from the previous quarter, while completed modifications rose by 6.7%, mostly "combination modifications." The report covers 10.8 million loans totaling USD 2.7 trillion, representing 20% of US residential mortgage debt.
Data & statisticsCredit riskAsset quality
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2025-09-24•Egypt•Central Bank of Egypt
The Central Bank of Egypt reported a 49.7% increase in remittances from Egyptians working abroad, reaching USD 23.2 billion from January to July 2025. July 2025 saw a record monthly remittance level of USD 3.8 billion, a 26.3% rise from July 2024.
Data & statisticsCross-border payments
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2025-09-24•Malta•Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) reviewed management companies of Alternative Investment Funds and UCITS, finding deficiencies in investment management execution and liquidity risk management. Issues included poor record keeping, unrealistic liquidity stress testing assumptions, and weak suitability assessments for Investment Committee members. The MFSA issued a Dear CEO letter outlining expectations for improved governance and oversight and will continue monitoring through supervision and guidance.
SupervisionReviews, inspections & stress testsLiquidity riskESG
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2025-09-24•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) and the African Development Bank Group (AfDB) have partnered to boost private-sector investment in Africa, leveraging GFANZ's convening capacity and AfDB's finance expertise. The initiative, anchored in the GFANZ Africa Network, aims to enhance investor awareness, gather private-sector feedback, and explore innovative financial and policy solutions to increase private capital flows.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-09-24•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde released a Payments System Report detailing 2024 advancements in efficiency, innovation, security, and inclusion within the payments market. Key initiatives include a national strategy for an Immediate and Inclusive Transfer System (STII) and legal reforms to modernize the market. The report highlights STII's role in financial inclusion and includes statistical data on the payments system's evolution.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-24•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission's Party Secretary and Director Li Yunze met with Bridgewater founder Ray Dalio to discuss the global economic and financial situation, global debt issues, and the outlook for China's financial sector development.
Other
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2025-09-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has removed three retired civil servants from its roster of judicial experts in the monetary and banking field. The individuals affected are Hoàng Thạch Ninh, Phạm Vĩnh Thái, and Bùi Đức Hoàn. Relevant units are instructed to retrieve and submit their judicial expert cards to the Department of Organisation and Personnel.
Institutional developmentWorkforce & recruitmentLeadership change and appointments
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2025-09-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam Regional Branch 13 held its first Steering Committee meeting on anti-corruption, establishing the committee and setting priorities for 2025. Chaired by Pham Minh Tu, the meeting reviewed inspection findings and discussed enhancing oversight and complaint resolution. The chair emphasized the need for intensified checks and strict handling of corruption and negative conduct.
Institutional developmentMandate & organizational structureBribery and corruption
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2025-09-24•South Korea•Bank of Korea
The Bank of Korea released updated input-output tables for 2023, with detailed materials accessible through attached files.
Data & statisticsEconomic data and developments
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2025-09-24•South Korea•Bank of Korea
The Bank of Korea's September 2025 Consumer Tendency Survey reports a decline in the Composite Consumer Sentiment Index to 110.1, a decrease of 1.3 points from August.
Data & statisticsOther
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2025-09-24•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi released the East African Community's Cross-Border Payment System Master Plan, outlining a five-year strategy to modernize and harmonize regional payment systems. It addresses high transaction costs and regulatory fragmentation, aiming to enhance regional economic integration and financial inclusion. Key priorities include harmonizing regulatory frameworks, upgrading payment infrastructure, deepening financial markets, and strengthening institutional capacity.
Policy & regulationReform agendas & prioritiesCross-border paymentsMarket infrastructure
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2025-09-24•Denmark•National Bank of Denmark
The National Bank of Denmark estimates a slightly positive output gap of 0.5% for mid-2025, lower than model-only estimates. This gap, the difference between actual GDP and potential output, includes expert judgement to address uncertainties and revisions. Factors like increased foreign labour and structural production shifts support the Bank's assessment, indicated by easing labour-market pressures and manufacturing capacity utilisation.
Research
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2025-09-24•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis suggests that increasing Danish defence spending to meet NATO's 3.5% GDP target from 2026 could moderately pressure capacity, lifting real GDP by about 1% annually from 2025 to 2029. Consumer prices may rise nearly 1% by 2029, with effects sensitive to import content. This spending can be financed within existing fiscal plans without significantly raising the debt ratio, though prioritisation may be needed due to capacity pressures.
ResearchGeopolitical risk
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2025-09-24•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis highlights a 32% rise in food and non-alcoholic beverage prices since 2021, driven by global supply-side pressures. These items, accounting for 12% of the net price index, contributed nearly half of the inflation increase in August 2025, with significant hikes in coffee, chocolate, and beef. The report attributes these trends to post-pandemic uncertainty, the war in Ukraine, and climate issues, with commodity futures indicating continued high prices short term.
ResearchEconomic data and developments
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2025-09-24•Moldova•National Bank of Moldova
The National Bank of Moldova (NBM) released updated monthly data on its foreign exchange market activities, reporting zero interbank spot and swap transactions and no forward operations for the period. The report clarifies the distinction between direct interventions affecting money supply and reversible foreign exchange swaps. Transactions are recorded on the trade date, with currency equivalents calculated using monthly average exchange rates.
Data & statisticsForeign exchange policy and markets
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2025-09-24•Moldova•National Bank of Moldova
The National Bank of Moldova released monthly statistics on non-cash foreign exchange transactions against the Moldovan leu, excluding central bank activities. In the reporting period, interbank spot turnover was EUR 26.6 million in purchases and EUR 31.9 million in sales, while intrabank turnover was EUR 449.5 million in purchases and EUR 793.3 million in sales. The data, used for setting the official exchange rate, show no SWAP or FORWARD transactions.
Data & statisticsCurrency and cash management
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2025-09-24•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority (FSRA) issued an alert about false claims by Oscar Markets Limited on oscarmarkets.com. The entity falsely claims to offer trading in Contracts for Difference and a physical presence in ADGM, without FSRA authorisation or incorporation in ADGM. FSRA advises verifying firm authorisation on the FSRA Public Register and checking incorporation status on the ADGM Registration Authority’s Public Register.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-23•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission joined Rádio Platina’s “Dia Alegre” to promote financial literacy and responsible investing during World Investor Week. Mário Kadi and finfluencer Maria dos Santos discussed investment instruments, their risks and advantages, and the role of financial intermediaries. The Commission plans to continue activities to enhance public understanding of capital market opportunities.
Financial literacy & educationFinancial literacy and education
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2025-09-23•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission approved the registration of BNS TUNDAVALA I, a closed-end venture capital fund offered by private subscription. The fund aims to invest in advanced-maturity, distressed, and early-stage companies, with up to 50% of assets in regulated markets. It will be managed by Black N Share – Sociedade Gestora de Organismos de Investimento Colectivo, S.A., with Banco Valor, S.A. as depositary.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-23•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has adopted a new Corporate Governance Code for joint-stock companies on Montenegro’s regulated market, developed with Croatia’s Financial Services Supervisory Agency under an EU-funded project. The Code aligns with EU and OECD standards and includes guidelines for one-tier and two-tier board models. It covers governance structure, risk management, shareholder meetings, and transparency. While mandatory for regulated-market issuers, other companies may adopt it voluntarily.
Policy & regulationRules & requirementsCorporate governance
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2025-09-23•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg's Cahier d’études No. 200 examines how wealth and life expectancy interact, showing income influences early-life health through preventive investments. Prevention subsidies boost health and productivity but don't reduce inequality, while income redistribution decreases inequality but may lower overall health and income. The views expressed are those of the authors, not necessarily the Central Bank of Luxembourg or the Eurosystem.
ResearchOther
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2025-09-23•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority has launched "IA Files," a four-episode TV drama series with Radio Television Hong Kong to illustrate its regulatory, investigative, and enforcement work while educating consumers on insurance. Based on real-life cases, the series addresses conduct issues like policy misrepresentation and unlicensed selling, reflecting the IA's commitment to raising professional standards and ensuring fair treatment of customers.
Financial literacy & educationConsumer and investor protection
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2025-09-23•Denmark•Danish Finanstilsynet
The Danish Finanstilsynet issued enforcement orders to two companies for providing consumer residential credit agreements secured by real estate without proper authorization as property credit institutions. Such lending requires a license under section 2(1) of the Act on Property Credit Institutions, even if not the firm's main business. It also highlighted potential oversight by professional advisers and clarified that seller-financed mortgage deeds in home sales may require authorization when the buyer is a consumer.
EnforcementInvestigations & enforcement actionsLicence approval
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2025-09-23•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) will host the 11th Financial Education Day on 6 October, emphasizing financial literacy under the slogan “Get informed. Plan. Decide.” The event, part of the Financial Education Plan with the Bank of Spain and the Ministry of Economy, will feature speeches from key financial figures and include the presentation of the Finanzas Para Todos awards and the School Financial Education Contest final.
Financial literacy & educationFinancial literacy and education
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2025-09-23•Italy•Bank of Italy
The Bank of Italy released a survey on the Italian market for cybersecurity testing services, highlighting the supply of Threat-Led Penetration Testing (TLPT) amid EU digital operational resilience rules. The study reveals a dynamic market dominated by domestic providers, with significant variability in service standardization and challenges such as skilled labor shortages and high costs.
ResearchCyber resilience
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2025-09-23•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has initiated the final phase of the Exchange Settlement Account System (ESAS) application process, allowing entities meeting expanded access criteria to apply for New Zealand’s high-value real-time settlement system. Applications are assessed in order of receipt, with eligibility based on alignment with ESAS’s purpose and risk profile, including anti-money laundering compliance and governance standards.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-09-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that Bell Group Holdings Pty Limited restated its FY23 financial figures after an ASIC review found a consolidation error. Bell Group failed to consolidate Bell Financial Group Limited, in which it held a 45.6% shareholding, under AASB 10. The restatement increased net assets by AUD 129.8 million, profit after tax by AUD 13.5 million, and reduced net cash outflows by AUD 72.4 million, underscoring ASIC's expectations for proper assessment of control and consolidation under Australian Accounting Standards.
SupervisionReviews, inspections & stress testsAuditingAccounting and financial reporting
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2025-09-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has initiated Federal Court proceedings against RACQ Insurance Limited for allegedly issuing misleading insurance renewal documents by overstating prior-period premiums, affecting over 570,000 documents. ASIC claims the misleading figures distorted renewal price increases and that RACQ continued the practice despite customer complaints. ASIC seeks declarations, civil penalties, and publicity orders for contravening section 12DB of the ASIC Act.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-09-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) secured Federal Court orders disqualifying Queensland director David Paul Hodgson from managing corporations for five years and permanently restraining him from financial services without a licence. The Court found Hodgson, MacroLend Pty Ltd, and Great Southland Limited conducted unlicensed financial services, raising AUD 109 million from investors, and engaged in misleading conduct regarding Kradle Software Pty Ltd's assets. Hodgson and the companies must pay ASIC’s costs.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-09-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) secured Federal Court travel restraint orders against Darren Geddes, director of Global Investment Marketing Pty Ltd, preventing him from leaving Australia until March 2026. This action is part of an investigation into alleged misappropriation of customer investment funds by GIM and its directors. The orders were unopposed by Mr. Geddes.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-09-23•Kenya•Central Bank of Kenya
The Central Bank of Kenya announced Governor Dr. Kamau Thugge received an 'A' grade from Global Finance magazine for his leadership in monetary policy. The recognition highlights CBK's efforts in inflation control, currency stability, and interest rate management. Thugge credited the CBK team and recent policy decisions, including a revised Risk Based Credit Pricing Model, for maintaining inflation below target and stabilizing the exchange rate.
Other
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2025-09-23•Mozambique•Ministry of Finance (Mozambique)
Mozambique's Ministry of Finance noted low insurance uptake at the 29th Annual Conference of Portuguese-speaking Insurance Supervisors, stressing the need to improve access. Only 17% of the population holds insurance, with penetration at 1.2% of GDP, compared to 4% among ASEL members. The conference aimed to generate proposals to strengthen the insurance market and promote financial inclusion.
Policy & regulationCooperationFintech and insurtechFinancial inclusion
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2025-09-23•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved rulemaking, registration, and supervisory decisions to align with EU capital markets legislation amid Ukraine's EU accession. This includes draft amendments to Cabinet of Ministers acts, securities issuance registrations, and key appointments at market participants. Additionally, the NSSMC addressed significant participation acquisitions and sustainable development reporting under the Law on Accounting and Financial Reporting in Ukraine.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-09-23•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank reported a EUR 23 billion decline in Dutch institutions' foreign government bond holdings in H1 2025, mainly due to rising interest rates affecting European sovereigns. Despite EUR 18 billion in sovereign debt purchases, including EUR 11.5 billion in German bonds, significant value declines were noted in German, French, and Austrian bonds. Non-European bonds saw some gains, notably from the U.S., but overall incurred a EUR 14 billion loss from currency fluctuations.
Data & statisticsBalance of payments and other external statistics
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2025-09-23•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador has obtained ISO 37001 certification for its anti-bribery management system, certified by AENOR. This certification encompasses the bank's strategic, core, and support processes, including financial system monitoring, payment systems oversight, and international reserves management. The accreditation aligns with the bank's obligations under Article 16 of the Public Procurement Law.
Institutional developmentCooperation & capacity buildingBribery and corruption
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2025-09-23•Ireland•Central Bank of Ireland
The Central Bank of Ireland has launched its second Innovation Sandbox Programme, themed “Innovation in Payments,” to foster industry engagement and advance safer, faster, and more inclusive payment solutions. Open to firms and partnerships at all development stages, the programme aims to enhance payments outcomes using innovative technology. The initiative will begin in January 2026 and last six months.
SupervisionInnovation & testingFintech and insurtechPayments and payment systems
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2025-09-23•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) has appointed Bank Indonesia Deputy Governor Juda Agung as an ex officio member of its Board of Commissioners. This appointment, made under Presidential Decree No. 72/P of 2025, completes the 11-member board, which includes nine selected commissioners and two ex officio members from Bank Indonesia and the Ministry of Finance.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-23•Europe•European Banking Authority
The European Banking Authority (EBA) advised the European Commission on the EU covered bond framework, finding it broadly fit but suggesting targeted changes to reduce fragmentation and enhance investor protections. Recommendations include aligning national regimes with the Covered Bond Directive, improving transparency, and introducing a third-country equivalence regime. The EBA's analysis, developed with national authorities, responds to the Commission's request to assess the framework's performance and potential enhancements.
Policy & regulationGuidance & interpretationSecuritizationSecurities offerings and listings
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2025-09-23•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance, with Altum, drafted amendments to the Development Finance Institution Law to clarify Altum's decision-making under state aid and development programmes and enhance governance. The draft mandates Altum align internal policies with operational risks and stipulates decisions based on economic and risk considerations will be resolved under civil procedure, not administrative courts.
Policy & regulationRules & requirementsCorporate governance
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2025-09-23•Portugal•Bank of Portugal
The Bank of Portugal released updated public debt statistics for Portugal as part of the 2025 Excessive Deficit Procedure notification to Eurostat. In 2024, the public debt-to-GDP ratio decreased to 93.6%, while Maastricht public debt rose by EUR 9.0 billion to EUR 270.9 billion, driven by increased debt securities and loans. Non-residents held 45% of the debt, with 50% having a residual maturity over five years.
Data & statisticsBalance of payments and other external statistics
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2025-09-23•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DSP-155 detailing fees for the low-value payment systems it manages.
Policy & regulationRules & requirementsPayments and payment systems
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2025-09-23•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) released its H1 2025 report on senior role registrations and pension fund processes. ASF noted 190 registrations and 150 cancellations for key positions, with a rise in pension fund extinction processes due to RJFP non-alignment. Insurance intermediary registrations decreased, while suspensions and lifts of suspension increased, and cancellations fell.
SupervisionRegulatory reporting