The Central Bank of Cyprus released its Bank Lending Survey for Q2 2025, noting unchanged credit standards and lending terms for enterprises and households. However, there was an increase in net demand for loans, particularly in consumer, household, and housing loans.
The Central Bank of Montenegro awarded its 2025 Green Award to two academic papers on climate change's impact on the financial system. The winning papers, by Jelena Jovovic and Sanja Radusinovic, explore the relationship between banks' carbon footprints, environmental policies, and financial stability, as well as nature's role in Montenegro's economic development. Governor Irena Radovic emphasized the award's aim to foster responsible climate responses and encourage discourse.
The Montenegro Capital Market Authority recapped the third International “Montenegro Financial Markets” conference, highlighting Montenegro's imminent entry into the Single Euro Payments Area (SEPA) and the introduction of a new Corporate Governance Code. The event featured discussions on artificial intelligence, crypto-asset markets, and corporate bonds, alongside workshops on sustainable reporting and financial education initiatives.
The Montenegro Capital Market Authority concluded the Twinning Light project, enhancing governance and capacity, and introduced a Corporate Governance Code aligned with EU and OECD standards. Supported by Croatia’s Financial Services Supervisory Agency and the EU, the project involved training, workshops, and expert input, focusing on capacity-building for financial entities. The new code is crucial for closing Chapter 6 (Company law) in Montenegro’s EU accession talks, with ongoing efforts to align regulatory frameworks.
The European Parliament’s Committee on Economic and Monetary Affairs will hold a public hearing on 25 September 2025 to review financial sanctions, focusing on the financial sector and frozen Russian assets. The hearing will evaluate sanctions' effectiveness, enforcement, evasion strategies, and discuss strengthening EU measures. Key topics include implementing Council Decision (CFSP) 2024/1470, involving financial contributions by central securities depositories holding immobilised Russian Central Bank assets.
The European Securities and Markets Authority, alongside the European Banking Authority and the European Insurance and Occupational Pensions Authority, released the Autumn 2025 Joint Committee Report, stressing geopolitical uncertainty's impact on the EU financial system. It urges vigilance, liquidity stress tests, and integrating geopolitical risks into operations, noting transatlantic tensions and crypto-asset market contagion risks.
The Central Bank of the Republic of Kosovo and the Federal Reserve Bank of New York discussed ongoing cooperation on account services, reserve management, and capacity building. Key topics included Kosovo's financial integration with the EU, participation in the Single Euro Payments Area, and advancements in payment and securities infrastructure. Both institutions reaffirmed their commitment to continued collaboration and support.
The Belgium Financial Services and Markets Authority reached a settlement with Go West Invest, mandating a payment of EUR 10,000 and the publication of the firm's name on the FSMA website.
France's Autorité des marchés financiers (AMF) issued a warning about "hot" stock tips in private messaging groups, indicative of a pump and dump scheme. Retail investors reported being lured through online ads to buy shares, often US stocks, with promises of quick gains, only to suffer losses. The AMF advises verifying the authorization of investment service providers and being wary of unsolicited advice and promises of easy profits.
The Dominican Republic Pensions Superintendency attended the 52nd General Assembly of the Federation of Ibero-American Stock Exchanges in Madrid, focusing on enhancing pension fund investment in the Dominican securities market. Superintendent Francisco A. Torres discussed attracting new issuers, investment banking, and AI in exchange business. The event also addressed smart regulation, geopolitical shifts, and boosting investment in Latin American assets.
The Australian Securities & Investments Commission (ASIC) issued an interim stop order against the RELI Capital Mortgage Fund, a managed investment scheme by RELI Capital Limited, due to concerns over the fund's target market determination, risk assessment, and lack of distribution conditions. The order restricts RELI Capital from dealing in fund interests, issuing product disclosure statements, or advising retail clients on fund investments.
The Australian Securities & Investments Commission (ASIC) announced that Chair Joe Longo will not seek an extension to his term, ending on 31 May 2026. Longo highlighted ASIC's organisational restructure, increased investigations, and civil enforcement proceedings, alongside efforts to stabilise business registers and address regulatory complexity. ASIC will maintain its focus on superannuation misconduct, market efficiency, and the ASX review during Longo's remaining tenure.
The Australian Prudential Regulation Authority (APRA) announced that the Treasurer will seek candidates for the Deputy Chair position following Margaret Cole's decision to depart at the end of her term on 30 June 2026. APRA Chair John Lonsdale praised Ms. Cole's contributions since 2021, including her role in implementing the Your Future, Your Super reforms and the Financial Accountability Regime.
The Australian Prudential Regulation Authority announced that the Treasurer will advertise for the Deputy Chair role following Margaret Cole's decision to leave at the end of her term on 30 June 2026, acknowledging her contributions since 2021 in implementing key reforms and enhancing APRA's functions.
The Mauritius Financial Services Commission has issued Guidance Notes on the Responsible Use of Artificial Intelligence in financial services, effective 19 September 2025. The guidance sets expectations for AI use by FSC licensees, urging proportional incorporation based on activity scale and risk profile. The FSC will monitor AI developments and update regulations as necessary.
The Mauritius Financial Services Commission (FSC) participated in a TV programme discussing rising insurance policy costs, claims volumes, and regulatory measures. The FSC highlighted the importance of licensing as a defense mechanism, urging the public to engage only with FSC-licensed providers. It reiterated its role as the non-banking financial services regulator, overseeing insurance entities under the Insurance Act.
The Ukraine National Commission on Securities and Stock Market approved amendments mandating financial statements be submitted exclusively in eXtensible Business Reporting Language (XBRL) via the Financial Reporting Collection Center, effective 1 November 2025. This change eliminates the requirement for Extensible Markup Language (XML) filings. The amendments were developed with input from various financial and market entities.
The Ukraine National Commission on Securities and Stock Market (NSSMC) issued new rules on share issuance and amended financial statement submission regulations. It approved draft laws on protecting reporting entities during martial law and improving special inspection procedures. The NSSMC also terminated Comex Securities LLC’s licence, warned against dubious investment projects, and registered multiple share issues and prospectuses for companies.
Uruguay's Ministry of Economy and Finance released the IMF's concluding statement for the 2025 Article IV consultation, highlighting Uruguay's economic resilience and positive outlook amid global uncertainty. The IMF noted a rebound in agricultural output, inflation within the Central Bank's target, and favorable market access supported by investment-grade ratings. Proposed fiscal reforms were endorsed, emphasizing fiscal-rule targets and greater autonomy for the Fiscal Council.
EFRAG is hosting online workshops in November 2025 to gather insights on intangibles reporting for the IASB's Intangible Assets project. The sessions will explore key intangibles, their value creation, and user information needs, revealing diverse views across industries. Sessions are organized by intangible type to compare analytical approaches and economic rationales for adjustments.
Davit Onoprishvili, head of the Insurance State Supervision Service of Georgia, is attending an IAIS Executive and Macroprudential Committee meeting in Singapore, representing the Central, Eastern Europe, and Transcaucasia region. Discussions focus on insurance sector trends, systemic challenges, and significant structural changes within IAIS. His participation aims to align the Georgian insurance market with international supervisory standards.
The Central Bank of Costa Rica will begin sales of the third CRC 25 collectible coin in the "Emblematic Sites of Our Provinces" series on 24 September 2025, featuring the Casona de Santa Rosa in Guanacaste. The coin will be available in acrylic and presentation-case formats, priced at CRC 9,050, with a purchase limit of two per person. Concurrently, a standard CRC 25 circulation coin will be introduced, and old and new CRC coin designs will coexist until further notice in 2026.
Lithuania's Ministry of Finance announced Vice-Minister Kristupas Vaitiekunas will attend Eurogroup and ECOFIN meetings in Copenhagen on 19–20 September, focusing on geopolitical challenges and Europe's economic resilience. The Eurogroup will review economic trends and the digital euro project, while ECOFIN will discuss regulatory simplification and structural reforms. Discussions will address strategic vulnerabilities in defence, technology, AI, critical raw materials, and energy, with Bruegel presenting alternative geopolitical scenarios.
ASEAN central banks, co-chaired by Bank Indonesia and the State Bank of Vietnam, agreed to enhance regional financial integration at the 30th ASEAN Senior Level Committee on Financial Integration. Priorities include reducing non-tariff barriers, accelerating payment system connectivity, and expanding local currency use to bolster financial stability amid global challenges. The next meeting is set for the first quarter of 2026 in the Philippines.
Latvia's Ministry of Finance outlined its agenda for the Eurogroup and informal EU Economic and Financial Affairs Council meetings in Copenhagen. Discussions will focus on fiscal and economic policy coordination, the euro's development as an international and digital currency, and EU simplification initiatives. Key topics include the economic outlook amid geopolitical tensions, digital euro progress, and potential simplification of financial regulations.
The Bank of Lithuania reported a Q2 2025 current account surplus of EUR 137.9 million (0.7% of GDP), up from EUR 10.3 million in Q1, driven by a larger services surplus despite wider primary income and goods trade deficits. The financial account showed a net negative investment flow of EUR 1.8 billion (-8.8% of GDP), with negative net flows in other and direct investments partially offset by positive portfolio investment and increased official reserve assets. The net international investment position was -EUR 2.9 billion (-3.6% of GDP), with gross external debt at EUR 69.2 billion (85.4% of GDP).
Croatia's Ministry of Finance reported Finance Minister Marko Primorac's participation in the Eurogroup meeting, where a political agreement was reached on introducing a digital euro. The Eurogroup work programme, flexible to address geopolitical risks, focuses on completing the Capital Markets Union and Banking Union, and enhancing the Economic and Monetary Union's resilience and competitiveness. Discussions also covered climate and technological adaptation and included exchanges with Aurora Lalucq on economic developments.
Guernsey’s Committee for Economic Development, the Guernsey Financial Services Commission, Guernsey Finance, and the Guernsey International Business Association have commissioned a Finance Sector Policy Framework to enhance the island's finance sector over the next 5–10 years. Oliver Wyman will develop the framework, focusing on industry competition, emerging sectors, regulatory support for innovation, and strategies for talent and global positioning. Jointly funded by key stakeholders, the initiative will address fintech, digital assets, and sustainable finance, with work commencing in September 2025.
The Bank of the Lao PDR joined the 30th ASEAN Senior Level Committee on Financial Integration in Yogyakarta, Indonesia, where ASEAN central banks reviewed regional macroeconomic conditions and financial integration progress. Discussions highlighted ASEAN GDP growth of 4.4% and inflation projections of 2.4% for 2025. The meeting also addressed updates on the 2025 priority work plan and "Project Revive" findings to streamline governance and reporting.
Deputy Governor Aloun Bounyang of the Bank of the Lao attended a briefing on Lao Foreign Trade Bank Public Company's capital increase share issuance, structured as a rights offering and public offering. The event, organized with Lao-China Securities Public Company, included presentations on the offering's purpose, the bank's background, and financial indicators to bolster investor confidence.
Greece’s Ministry of National Economy and Finance announced that Minister Kyriakos Pierrakakis will chair discussions on innovation and digitalisation at the informal Eurogroup and ECOFIN meetings. Key agenda items include the digital euro, geopolitical economic impacts, and strategic EU cooperation in digital infrastructure and public procurement modernization.
The Hong Kong Securities and Futures Commission has initiated Court of First Instance proceedings under section 214 of the Securities and Futures Ordinance to seek disqualification orders against four former directors of Century Energy International Holdings Limited. The SFC alleges these directors failed to supervise subsidiaries, causing a $184 million loss and deconsolidation of major subsidiaries in 2019. It also claims inaccurate information was provided in a 2014 circular about one subsidiary, significantly impacting the company's revenue and assets.
The Financial Services Regulatory Authority of Ontario has published its 2025–28 Annual Business Plan, detailing its strategy, budget, and activities for the next three years. Approved by Ontario’s Minister of Finance, the plan emphasizes strengthening stakeholder relations, enhancing regulatory effectiveness, and implementing key reforms like auto reform initiatives. It incorporates feedback from a consultation on the 2025-26 Statement of Priorities.
The World Bank Group announced the International Finance Corporation's (IFC) first securitization transaction, a USD 510 million collateralized loan obligation (CLO) to attract private capital into emerging markets. The CLO, listed on the London Stock Exchange, includes a USD 320 million senior tranche, a USD 130 million mezzanine tranche, and a USD 60 million equity tranche. The World Bank Group plans regular issuances to create a scalable model for mobilizing private investment.
The Portuguese Securities Commission (CMVM) will participate in World Investor Week from 6 to 10 October 2025, focusing on enhancing financial literacy. The Portugal-wide programme includes a Financial Literacy Course with sessions on capital markets, banking, insurance, financial innovation, and fraud and cybersecurity, available both in person and online.
The Hong Kong Monetary Authority released Q2 2025 data on stored value facility (SVF) schemes, noting 82.75 million SVF accounts and 2.1 billion transactions totaling HKD 285.8 billion. Compared to the previous quarter, SVF accounts rose 2.3%, transaction count increased 1.8%, while transaction value decreased 0.9%. Year-on-year, accounts grew 9.8%, with transaction count and value up 6.1% and 31.7%, respectively.
The Hong Kong Monetary Authority (HKMA) issued a scam alert regarding fraudulent websites and phishing activities targeting several banks, including The Bank of East Asia and DBS Bank (Hong Kong). The alert emphasizes that banks will not send SMS or emails with links for transactions or request sensitive information. Customers affected by these scams should contact their bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority released Q2 2025 statistics on payment cards, noting a 4.2% quarterly increase in credit cards in circulation to 22.8 million and an 8.3% rise in transactions to 360.1 million. Despite higher transaction volumes, the value of credit card transactions fell 2.1% quarter on quarter to HKD 268.4 billion, while debit card transaction value decreased 9.9% to HKD 66.5 billion.
GAFILAT, supported by Paraguay’s Secretariat for the Prevention of Money or Asset Laundering, hosted a regional workshop in Asunción on digital transformation for AML/CFT supervisors. Discussions focused on digital tools for supervision, technology risks, AI in compliance, and regulatory challenges. Participants included GAFILAT member delegations, the Association of Banking Supervisors of the Americas, and private-sector representatives.
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about fraudulent emails targeting CySEC-licensed entities and investors, falsely claiming to be from CySEC officers. These emails seek to extract money through fake certificate renewals and related services. CySEC emphasized it never requests payments from investors and urged the public to report suspicious communications.
Kazakhstan's Financial Market Agency proposed draft laws to the Mazhilis for managing insolvent banks, aligning with international standards. The framework includes enhanced supervision, financial stability restoration, and resolution, requiring banks to update recovery and resolution plans annually. State support is limited to systemically important banks, involving temporary state capital entry with strict conditions, and the Agency oversees plan execution and crisis regime application.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Marlen Orazbekuly Mirzabekov as head of Nova Leasing JSC and Aliya Erzhanqyzy Sauytbekova as a Management Board member and Deputy Chair, effective 17 September 2025.
Kazakhstan's Financial Market Agency proposed changes to banking laws to enhance governance, supervision, and streamline requirements. Key measures include stricter director independence, a nine-year board tenure limit, and a three-year cap on foreclosed property retention. The proposals also aim to accommodate technological change, promote financial technology, and liberalize digital asset circulation.
The Central Bank of the Republic of Uzbekistan partnered with the 20th International Shariah Scholars Forum in Tashkent and signed an MoU with INCEIF University to advance Islamic finance education and research. The agreement includes translating Islamic finance books into Uzbek and developing educational programs. Discussions at the forum covered Islamic banking models, Shariah governance, regulatory challenges, and integrating social finance tools.
The Thailand Office of Insurance Commission (OIC) announced the development of an Onsite Examination System (OES) to digitize the examination process for insurers, incorporating AI for risk-based supervision. The OES will facilitate structured risk analysis, centralized data sharing, and real-time tracking of risk issues and corrective actions. It is expected to be operational in 2026, with insurers advised to enhance data management and connectivity.
The Central Bank of the Republic of San Marino issued Regulation No. 2025-02, establishing new rules for independent financial advisors in alignment with MiFID II, effective 25 September 2025. This replaces Regulation No. 2020-03 and complements Regulation No. 2024-05, which applies to investment service providers. The final text was adopted without significant changes due to the absence of consultation feedback and qualified advisors in San Marino.
The Central Bank of San Marino's Quarterly Information Bulletin for Q2 2025 reports a stable financial system with a 2.7% increase in total banking system funding to EUR 6.779 billion and a slight rise in customer lending. Impaired exposures remained stable, while NPL ratios decreased to 17.5% gross and 11.9% net. The bulletin also covers regulatory activities, including domestic public debt issuances and supervisory expectations for managers.
The South Africa Financial Sector Conduct Authority imposed sanctions on DSL Solutions (Pty) Ltd and Opes Trust for non-compliance with the Financial Intelligence Centre Act, 2001. DSL was fined ZAR 200,000 and Opes ZAR 500,000, with ZAR 250,000 conditionally suspended for two years. Both firms were found deficient in risk management, customer due diligence, and compliance with UN sanctions lists, among other breaches.
The Brazilian Superintendence of Private Insurance (SUSEP) reported total sector revenues of BRL 247.45 billion from January to July 2025, a 0.98% nominal decrease from the same period in 2024. Property and personal insurance revenues rose by 7.54% nominally, with motor insurance holding the largest share at 42% and life insurance expanding by 10.83% nominally. Claims, surrenders, benefits, and prize draws increased by 9.30% year on year.
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the ASEL conference in Maputo, discussing Brazilian supervisory and legislative developments. SUSEP highlighted the 2024 market expansion, the new insurance contract legal framework, and updates to the National System of Private Insurance framework. Key topics included SUSEP's extended supervisory perimeter and regulatory changes focused on innovation and sustainability.
The European Central Bank's weekly financial statement shows total assets and liabilities at EUR 6,070,545 million, a decrease of EUR 12,942 million from the previous week. Key changes include an EUR 18,345 million reduction in securities for monetary policy and a EUR 34,172 million decrease in liabilities to euro area credit institutions related to monetary policy operations. Lending to euro area credit institutions rose by EUR 638 million, while banknotes in circulation decreased by EUR 1,258 million.
The Romanian Financial Supervisory Authority has alerted investors and the public to a rise in telephone and online fraud attempts impersonating capital market institutions like the Bucharest Stock Exchange. These scams involve requests for personal data and banking details. The authority emphasized that such institutions do not solicit confidential information via phone or email and urged caution and verification of caller identities.
The Central Bank of the Philippines (BSP) issued Circular No. 1218, mandating cash transactions over PHP 500,000 or equivalent in foreign currency be conducted through traceable channels. Transactions above this threshold require enhanced due diligence and potentially a suspicious transaction report by BSP-Supervised Financial Institutions (BSFIs). BSFIs may impose lower internal limits based on risk assessments and customer profiles.
The New Zealand Financial Markets Authority published a High Court ruling clarifying the eligible investor exclusion under the Financial Markets Conduct Act for wholesale investment offers. Certificates must state grounds for certification but need not detail investment experience. Offerors can rely on confirmations by financial advisers, lawyers, or accountants. The FMA will continue collaborating with the Ministry of Business, Innovation and Employment on policy settings and addressing misleading conduct in wholesale investments.
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorised insurance intermediation through four websites and initiated their blocking by internet providers in Italy. IVASS noted that the total number of websites subject to such orders has reached 279 since November 2023. Consumers are advised to verify quotes and contracts with authorised firms and intermediaries using IVASS registers, especially for offers received online or via messaging services.
The National Bank of Serbia mandates banks to compensate customers deceived by a fraudulent SMS scheme under the Law on Payment Services, reimbursing losses over RSD 3,000 unless extreme negligence is proven. Consequently, 11 banks reimbursed 124 beneficiaries a total of RSD 5,223,413.02. The central bank stressed consumer vigilance against fraud and highlighted its more victim-friendly approach compared to most EU countries.
The South Korea Financial Services Commission plans to transform the financial industry towards "productive finance" with a KRW150 trillion National Growth Fund and recalibrated capital regulations. Policy financial institutions will focus on high-tech and regional financing, while capital market measures will introduce business development companies and security token offerings. Changes include raising the minimum risk weight on domestic home mortgage loans and adjusting risk weights for securities and venture capital investments, with further banking and insurance sector reforms planned.
The Vietnam State Securities Commission has mandated individuals listed in a notice to pay a VND 1,000,000 licensing fee to obtain a securities practising certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the commission. Failure to collect the certificate within one year of notification will result in cancellation.
The Securities Commission Malaysia issued Guidelines on Social Exchange Platforms to facilitate Malaysia's first social exchange for non-profit organisations' fundraising for social impact projects. The framework outlines obligations for platform operators and NPOs, including eligibility, disclosure, and reporting requirements. This initiative aligns with the 13th Malaysia Plan, positioning the social exchange as a capital market-based fundraising avenue for the third sector.
The Guernsey Financial Services Commission has issued a Russia sanctions notice designating four individuals and entities under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, now effective in Guernsey, subjecting them to an asset freeze. Firms must verify relationships with these designated persons, freeze relevant assets, and report findings to the Policy & Resources Committee and the Commission. The designations include Otar Anzorovich Partskhaladze, Levan Shioyevich Vasadze, HeliCo Group LLC, and AEZA INTERNATIONAL LTD.
The Guernsey Financial Services Commission issued a Russia sanctions notice identifying two ships under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, implemented in Guernsey. Firms must verify business links to the vessels BAVLY and KARAKUZ and comply with reporting and sanctions obligations. Findings should be reported to the States of Guernsey Policy & Resources Committee and the Commission, including a detailed Handbook Rule 12.37 report.
The Bank of England released a paper examining the "dilemma" hypothesis on US monetary policy's international effects. It finds US monetary tightening raises credit spreads and reduces real GDP and exports in small open economies, despite currency depreciation. The paper highlights financial and pricing frictions and suggests exchange rate regimes and countercyclical instruments can influence economic volatility.
The National Reserve Bank of Tonga's 2025 Annual General Meeting highlighted a profit of 32.5 million, with a 22.8 million distribution to the government, and discussed price stability, financial sector stability, and a stable pegged exchange rate amid global uncertainty. The Bank's net worth doubled over two years due to prudent management, and updated monetary policy aims to bolster economic resilience.
The National Bank of the Kyrgyz Republic conducted a financial literacy lecture for senior students at V.I. Lenin secondary school in Batken, covering topics such as prudent spending, financial planning, and risk protection. The session also addressed the development of QR codes in the Kyrgyz Republic, including national standards and fraud prevention measures.
The Global Financial Markets Association and other industry groups responded to the European Securities and Markets Authority's call for evidence on simplifying financial transaction reporting. They support reducing operational burdens through clearer reporting obligations, single-sided reporting, and a targeted review of reportable fields. The proposals aim to eliminate duplication, reduce costs, and align EU practices with global standards.
The National Bank of the Kyrgyz Republic fined seven exchange bureaus in Bishkek KGS 55,000 each for breaching national legislation and the bank's regulatory legal acts.
The National Bank of the Kyrgyz Republic fined four individuals KGS 17,500 each for unlicensed cash foreign-currency exchange operations in Bishkek and the Chui region.
The National Bank of the Kyrgyz Republic hosted a roundtable in Bosteri with key banking stakeholders to discuss regulatory priorities. Topics included interest rate transparency, anti-fraud measures, virtual asset regulation, Islamic finance expansion, and an upcoming anti-money laundering assessment. The roundtable aims to facilitate ongoing dialogue for strategic sector development.
The Taskforce on Nature-related Financial Disclosures (TNFD) Secretariat responded to EFRAG's consultation on revised European Sustainability Reporting Standards (ESRS) with a technical note and plans a formal submission. Supported by the G20, TNFD guides on nature-related financial disclosures, with over 500 organizations managing USD 17 trillion in assets committed to its recommendations, which align with major global sustainability reporting standards.
The Croatian Financial Services Supervisory Agency's August 2025 report highlights a rise in mandatory pension funds' net assets to EUR 25.3bn and UCITS net assets to EUR 3.9bn, despite a decline in Zagreb Stock Exchange turnover to EUR 55.7m. Insurance companies saw a 7.3% increase in gross written premiums to EUR 1.4bn for the first eight months of 2025. The report also notes decreased payments related to personal account closures and a slight increase in voluntary pension fund net assets.
The Croatian Financial Services Supervisory Agency (Hanfa) concluded the Twinning Light project to enhance corporate governance in Montenegro, resulting in a new Corporate Governance Code aligned with EU and OECD standards. Supported by training and presented by Hanfa and the Capital Market Authority of Montenegro, the project is linked to Montenegro's EU accession process. The EU Delegation emphasized ongoing efforts to advance Montenegro's alignment with European company law.
Senate Banking Committee Ranking Member Elizabeth Warren, Senator Andy Kim, and House Financial Services Committee Ranking Member Maxine Waters questioned Treasury Secretary Scott Bessent's decision to delay the compliance date for the 2024 anti-money laundering rule for investment advisers from 2026 to 2028. They argue the delay increases national security and economic risks, citing the sector's growth to USD 144.6 trillion in assets under management and potential management of funds by sanctioned entities. The letter seeks clarification on external influences, Treasury's interim measures, and plans to revisit the rule's substance.
Minority members of the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Elizabeth Warren, urged the Administration to resume targeted Russia sanctions and clarify its stance on China's acceptance of Arctic LNG 2 deliveries. The letter warns that without a swift response, these deliveries could undermine sanctions and boost Russian revenue. The Senators seek details on reinforcing sanctions, deterring future deliveries, and discussions with PRC officials.
The Central Bank of Russia has issued supervisory recommendations to banks to address the use of minors as money mules in fraudulent schemes. The guidance emphasizes early risk warnings, parental involvement, and enhanced monitoring of minors' accounts. Banks are advised to update contractual terms, define indicators of illegal activity, and set transaction limits to prevent misuse.
The European Fund and Asset Management Association's Q2 2025 release shows a slowdown in long-term UCITS net sales amid tariff uncertainty, though retail fund purchases remained robust. UCITS and Alternative Investment Funds (AIFs) saw net assets rise 1.6% to EUR 23.6 trillion, with UCITS attracting EUR 154 billion in net inflows and AIFs experiencing EUR 12 billion in net outflows. Long-term SFDR Article 9 funds faced their seventh consecutive quarter of negative net sales, while Article 8 funds attracted EUR 33.6 billion.
The U.S. House of Representatives passed a short-term continuing resolution extending the Defense Production Act and the National Flood Insurance Program. U.S. House Committee on Financial Services Chairman French Hill emphasized the importance of these extensions for maintaining flood insurance access and crisis supply production. Hill plans to work on further extending the DPA and enhancing the NFIP.
The U.S. Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing to evaluate AI deployment by financial regulators and firms, focusing on supervision, consumer protection, and market integrity. Discussions highlighted AI's efficiency and fraud detection benefits, alongside risks like AI-enabled fraud. Witnesses stressed embedding security and governance in AI, advocating a risk-based control framework and expanding AI use cases in financial services.
The Federal Deposit Insurance Corporation released its annual Summary of Deposits survey, detailing branch office deposit totals for all FDIC-insured institutions as of June 30, 2025. The dataset encompasses deposits from over 76,000 domestic offices of more than 4,400 FDIC-insured entities, with historical data available since 1994. The SOD offers online tools for geographic bank office location and custom market share report generation.
The Bank of Mauritius issued a notice refuting claims of impropriety in its catering services contract allocation, detailing the procurement process. The tender launched in February 2025, with former Second Deputy Governor Mr Gérard Sanspeur approving the proposal and appointing an Evaluation Committee. The contract was awarded after a Tender Committee review and Board approval, with Mr Sanspeur signing the award letter.
The Bank of Mauritius issued a public notice addressing media reports about the Bank of Africa, detailing courtesy meetings with its representatives and refuting claims of compromised independence, impartiality, and confidentiality. The notice clarified the timeline of meetings, including those involving Governor Dr. Rama Sithanen and Acting Governor Rajeev Hasnah, and noted the unlawful publication of a letter from the Bank of Africa.
The Bank of Mauritius refuted media claims of altered Board Minutes from November 2024 and initiated a full inquiry. It clarified that no Board meetings occurred on the disputed dates and emphasized that official records are maintained physically, with electronic archives held separately. The Bank also addressed an unauthorized IT audit request by former Second Deputy Governor Gerard Sanspeur and urged media to verify information before publishing.
The Bank of Albania reported on Governor Gent Sejko’s meeting with Slovenia’s Ambassador, focusing on Albania’s macro-financial conditions and cooperation opportunities. Key topics included Albania’s economic growth, debt risk reductions by Moody’s and Standard and Poor’s, and payment-system modernization through SEPA accession. The discussion also emphasized collaboration via the Centre of Excellence in Finance and Albania’s EU integration.
SEC Commissioner Caroline Crenshaw, at a Better Markets conference, warned against expanding retail investor access to private markets without proper disclosure, liquidity protections, or oversight. She noted private markets' growth and discussed reforms like changing investment limits and definitions of "Accredited Investor." Crenshaw questioned private markets' suitability for retail retirement savings and criticized delays in enhanced reporting requirements, arguing they weaken the SEC's ability to monitor systemic risk.
The U.S. Securities & Exchange Commission announced a jury verdict finding Steven M. Gallagher liable for securities fraud and manipulative trading. Gallagher used Twitter to promote stocks he owned, selling them without disclosing his actions, generating over USD 2.6 million in illicit profits. The jury also found manipulative trading in two stocks through "marking the close."
The Financial Stability Board's Deputy Secretary General Martin Moloney emphasized challenges in EU supervision quality, highlighting the need for effective risk management and improved cyber resilience under the Digital Operational Resilience Act. He stressed comprehensive threat intelligence, DORA registers for systemic risks, and the complexities of implementing the EU's Markets in Crypto-Assets Regulation. Moloney underscored consistent supervision across member states and the importance of cross-border coordination in crypto-asset regulation.
The China Securities Regulatory Commission (CSRC) held an enlarged Party committee meeting to discuss implementing the Communist Party’s “Central Eight-point Rules” and review the CSRC’s education programme. The meeting emphasized institutionalizing conduct and discipline requirements, linking them with rectification actions from inspections and audits, and enhancing compliance monitoring and discipline enforcement. These measures align with the capital market agenda of risk prevention, stronger supervision, high-quality development, and accelerating market reform and opening.
The US Department of the Treasury issued an Advance Notice of Proposed Rulemaking to gather public input on implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This initiative aims to develop a regulatory framework fostering innovation in payment stablecoins while addressing illicit finance risks. The notice builds on a previous request for comment on detecting illicit activity in digital assets.
The China Banking and Insurance Regulatory Commission reported on Party Secretary and Director Li Yunze’s visit to Jiangxi and Anhui, emphasizing banking and insurance support for technology and industrial innovation. The visit highlighted the need for tailored financial products for advanced manufacturing and strategic industries, stressing financial risk prevention and resolution. Li reviewed clean energy and quantum technology projects, advocating for high-quality financial services and improvements to the tech-finance system.
The Argentina Securities Commission (CNV) engaged in a dialogue with the UK Minister for Trade Policy and Economic Security, focusing on open finance and its potential to enhance financial access. The session, attended by industry representatives and officials from both countries, discussed regulatory innovations in Argentina and market growth opportunities. This meeting builds on previous engagements aimed at promoting investment in Argentina.
Roberto E. Silva, chair of the Argentina Securities Commission (CNV), discussed Argentina's new framework on tokenisation and regulation of Payment Service Providers (PSAVs) at the P2P Financial Systems Workshop in Montevideo. Organized by the Central Bank of Uruguay and the University of the Republic, the event addressed topics like CBDCs, DeFi regulation, and AI in financial systems. Silva also met with El Salvador's National Commission of Digital Assets and the Central Bank of Uruguay to exchange regulatory experiences on PSAVs.
The State Bank of Vietnam reported on the 30th ASEAN Senior Level Committee on Financial Integration meeting, co-chaired with Bank Indonesia, focusing on the ASEAN Economic Community 2026–2030 Strategic Plan and Finance Sectoral Plan. Discussions included global and regional economic outlooks, risks from financial volatility, and initiatives like the ASEAN Green Map and payments connectivity. Vietnam highlighted cybersecurity, regulatory fragmentation, and digital innovation in its Risk Monitoring Report.
The Asia/Pacific Group on Money Laundering said its annual meeting in Tokyo agreed the group’s strategic direction for the Global 5th Round and adopted Mutual Evaluation reports for Niue and the Maldives, completing the last round. Brunei Darussalam was appointed Co-Chair for 2026 to 2028 and will host the 2026 meeting, while BIMSTEC joined as a new observer. The related technical assistance forum also produced new agreements on support delivery for the coming year.
The National Bank of Moldova and the National Bank of Romania held a bilateral meeting to enhance cooperation under their collaboration agreement, focusing on aligning financial systems with European standards. Discussions included technical assistance from the National Bank of Romania, supporting Moldova's SEPA accession and strengthening regulatory capacities. The meeting coincided with an international conference co-organised with the Banque de France.
The National Bank of Moldova, in collaboration with the National Bank of Romania and Banque de France, is hosting the hybrid international conference "New Technology for Old Markets" in Chisinau. The event will address the future of finance in emerging markets.
The National Bank of Moldova, with the National Bank of Romania and Banque de France, hosted the inaugural "New Technology for Old Markets" conference in Chișinău, focusing on technology's impact on finance in emerging markets. Discussions included cryptocurrencies, financial literacy, AI for risk monitoring, and digital transformation, emphasizing Moldova's EU accession preparation. The event aims to establish an annual platform for collaboration among researchers, central banks, and the private sector.
The Treasury (Isle of Man) added six entries to the Russia sanctions regime, aligning with the UK Sanctions List. Effective under the Sanctions (Implementation of UK Sanctions) Regulations 2024, the sanctions include asset-freeze measures and trust services sanctions on two individuals, two entities, and two vessels. Institutions must comply by freezing assets, avoiding unauthorized transactions, and reporting to the Financial Intelligence Unit.
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority released their Autumn 2025 Joint Committee Report, highlighting increased risks in the EU financial system due to geopolitical uncertainty. The report advises financial entities to enhance vigilance, maintain adequate provisions, and incorporate geopolitical risks into operations. It emphasizes stress testing liquidity, monitoring crypto-asset contagion risks, and supporting the Savings and Investments Union initiative.
The European Insurance and Occupational Pensions Authority released an updated factsheet on institutions for occupational retirement provision (IORPs) in the European Economic Area, based on 2024 data. It details the allocation of approximately EUR 2.7 trillion across asset types, with government bonds, corporate bonds, equities, and investment funds comprising 92% of portfolios. The factsheet also includes data on pension fund membership, contributions, and benefits, using a "look-through" approach for detailed analysis.
The Ministry of Finance of Trinidad and Tobago introduced two Bills to strengthen the anti-money laundering and counter-financing framework before the Financial Action Task Force's evaluation in March 2026. The Miscellaneous Provisions (FATF Compliance) Bill, 2025 amends 13 laws, including trust registration and corruption offences. The Counter-Proliferation Financing Bill, 2025 mandates reporting duties for financial institutions and sets penalties for non-compliance, with oversight by the Central Bank, Securities and Exchange Commission, and Financial Intelligence Unit.
The Saudi Arabia Capital Markets Authority approved Raydan Food Company's request to reduce its share capital from SAR 158,084,670 to SAR 73,136,030, subject to Extraordinary General Assembly approval and procedural compliance. Raydan must publish a disclosure document detailing the capital reduction method and effects before the meeting. The CMA's approval confirms regulatory compliance but not the feasibility of the capital decrease.