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2025-09-16•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has issued a Notice of Proposal for enforcement action against Gordon Kimberley Hinkson and Ocean West Financial Group, proposing to refuse their insurance agent licence renewals and impose penalties. Allegations include unlicensed activity and providing false information, with proposed penalties of CAD 60,000 for Hinkson and CAD 50,000 for Ocean West. Both parties have requested a hearing before the Tribunal.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-09-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites and phishing scams linked to press releases from eight banks, including The Bank of East Asia and Bank of China (Hong Kong). The HKMA emphasized that banks will not send communications with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-09-16•Bulgaria•National Bank of Bulgaria
The Bulgarian National Bank (BNB) has revised its 2026 Coin Programme and preliminary programme for 2027–2028 to align with Bulgaria's euro area entry on 1 January 2026. From this date, BNB will issue collector euro coins, ceasing lev-denominated coin issuance. The programmes have been renamed and reorganized, with collector euro coins set at denominations of EUR 5, 10, 20, 50, and 100 for precious metals and EUR 5 for copper.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-09-16•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 M.A. Shalgimbayev as head of the executive body in the insurance sector. It also clarified that senior managers meeting qualification requirements under Kazakhstan’s Law on Insurance Activity can transfer within the sector without additional consent.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-16•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye (SEDDK) held a consultation meeting in Ankara with key stakeholders to address priority issues in the insurance market. Agreements were made to form working committees for ongoing consultation and to promote certified spare parts in motor vehicle insurance. Discussions included compulsory motor third-party liability insurance, unauthorised insurance activities, legal changes for adjusters, and potential tax and regulatory adjustments.
Policy & regulationReform agendas & prioritiesOther
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2025-09-16•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan celebrated the first anniversary of the Women's Entrepreneurship Finance Code, highlighting the creation of a National Coalition and a National Charter. A new data platform dashboard with gender-disaggregated financial inclusion indicators was launched, and new member commitments were formalized, including the Chamber of Commerce and Industry and Hamroh.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-09-16•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan, with the Regional Capacity Development Center and the International Monetary Fund, launched a regional seminar on Financial Programming and Policy in Tashkent. The event aims to enhance macroeconomic policy analysis, financial programming, and the use of statistical data for forecasting and scenario-based planning, involving the central bank, the Ministry of Economy and Finance, and the State Committee on Statistics.
Policy & regulationCooperationMacroprudential policy and toolsMonetary policy decisions and developments
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2025-09-16•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan met with Switzerland’s Ambassador and SICPA SA to enhance cooperation on currency production and quality. They discussed Switzerland's representation of Tajikistan in the IMF and World Bank, and collaborations with the Swiss National Bank on reserve management and monetary policy. SICPA SA shared its banknote printing expertise, with both parties interested in further cooperation.
Policy & regulationCooperationOther
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2025-09-16•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan clarified it hasn't restricted cash USD supply to financial institutions or foreign currency sales to customers, ensuring requests are met on time. Cash allocated from January to August 2025 exceeded the same period in 2024, with any shortages due to exceptional circumstances. The bank emphasized AML/CFT due diligence for institutions, including documentation for cash FX transactions between 350 and 1,750 calculation indicators.
Policy & regulationGuidance & interpretationLiquidity riskPrudential risks
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2025-09-16•Dominican Republic•Superintendencia del Mercado de Valores de la Republica Dominicana
The Superintendence of the Securities Market of the Dominican Republic hosted the third Expo Mercado de Valores 2025, attracting nearly 3,000 attendees. The event featured educational talks, expert panels, and interactive activities on responsible investing, financial planning, and investment strategies. Superintendent Ernesto Bournigal and SIMV executives led the programme, emphasizing investor education and market accessibility.
Financial literacy & educationFinancial literacy and education
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2025-09-16•Europe•European Central Bank
The European Central Bank's Working Paper evaluates stablecoins' fungibility as retail payment means, emphasizing central bank money as the monetary system's anchor. It concludes that tokenised funds and off-chain collateralised stablecoins can achieve fungibility under conditions like credible settlement finality and interoperability, while algorithmic stablecoins lack fungibility due to insufficient convertibility claims. Total stablecoin issuance was approximately USD 250 billion as of June 2025.
ResearchStablecoins
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2025-09-16•Europe•European Central Bank
The European Central Bank's working paper reveals a non-linear and asymmetric relationship between interest rate changes and defaults on variable rate mortgages in the euro area. The study, using data from Spain, Ireland, Italy, and Portugal, finds that default risk significantly increases when rates rise, especially for loans originated at ultra-low rates. The paper suggests borrower-based measures and interest rate stress testing to boost financial stability.
ResearchLending
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2025-09-16•Europe•European Central Bank
The European Central Bank's research indicates that direct, in-person communication improves public understanding of monetary policy and aligns inflation expectations with the ECB's 2% target, especially among those with limited knowledge. The study of 5,000 participants showed inflation expectations were 15 percentage points higher in the treatment group, rising to over 40 percentage points for the least informed. The authors suggest tailored, multilingual communication and broader media engagement.
ResearchOther
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2025-09-16•Philippines•Central Bank of the Philippines
The Bangko Sentral ng Pilipinas (BSP) has launched an inquiry into bank accounts linked to the Philippines’ flood-control corruption scandal, utilizing the Anti Financial Account Scamming Act (AFASA). This marks the BSP's first use of AFASA to investigate "money muling activities," following a request from the Department of Public Works and Highways. The inquiry coincides with a Court of Appeals freeze order on accounts, initiated by the Anti-Money Laundering Council.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-09-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its Investor Profile and Behaviour 2024 survey, revealing retirement saving as a primary goal for Brazilian investors, with 86% feeling prepared for financial shocks. The survey highlighted a skew towards aggressive, male investors from the Southeast region, needing a deeper understanding of technical financial concepts. Respondents rated CVM positively, with 55% rating its performance as excellent or good and 65% believing its rules enhance market efficiency.
ResearchConsumer and investor protection
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2025-09-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will unify registration systems for fiduciary administrators of Real Estate Investment Funds (FII) and Credit Rights Investment Funds (FIDC) with the registry for professional securities portfolio managers, effective 1 October 2025. This integration aims to eliminate database discrepancies and streamline registration processes. Fiduciary administrators must be authorized as financial institutions, with consistent responsibilities across fund categories.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-16•Albania•Albania Financial Services Authority
The Albania Financial Services Authority reported a 12.59% increase in total net assets of collective investment undertakings to ALL 69.09 billion (EUR 704 million) as of 30 June 2025, with investor numbers rising by 9.61% to 41,418. The market includes six licensed management companies and 18 investment funds, with portfolios heavily invested in Albanian government securities. Raiffeisen PRESTIGJ and Raiffeisen Vizion are the largest funds, holding ALL 43.665 billion and ALL 11.867 billion in net assets.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-16•Zambia•Bank of Zambia
The Bank of Zambia's Governor highlighted maintaining the Monetary Policy Rate at 14.5% amid inflationary pressures and global uncertainties, with inflation projected to return to the target band by Q1 2026. The Governor emphasized cybersecurity priorities, noting increased risks from digital financial services and plans to enhance cyber resilience through the 2024–2027 Strategic Plan, including establishing a Financial Cyber Incident Response Team and supervisory technology upgrades.
Monetary policyMonetary policy assessments & outlooksFinancial stability and systemic riskSupervision process and methodologies
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2025-09-16•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) and the IOTA Foundation are partnering to explore the use of Legal Entity Identifier (LEI) and verifiable LEI (vLEI) for secure digital identity in global supply chains, aiming to enhance transparency and reduce cross-border trade friction. Initial proof-of-concept efforts will focus on applications such as customs checks, supply chain processes, digital payments, and trade finance access.
Policy & regulationCooperation
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2025-09-16•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined two Kyrgyz citizens KGS 17,500 each for unlicensed cash foreign-currency exchange operations in Bishkek and the Chui region.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-09-16•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic adopted Resolution No. 2025-P-12/46-1-(NPA) to amend regulatory acts, enhancing the framework for Islamic banking by clarifying Sharia governance interactions. The electronic text is available on the bank's website.
Policy & regulationRules & requirementsOther
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2025-09-16•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined two currency exchange bureaux in Bishkek KGS 55,000 each for breaching Kyrgyz legislation and the bank's regulatory legal acts.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-09-16•Global•World Federation of Exchanges
The World Federation of Exchanges has launched the Emerging & Developing Markets Educational Programme, a workshop-based initiative to enhance capital market infrastructure and expertise in frontier, emerging, and developing economies. The programme offers foundational and advanced content with expert teaching and is open to practitioners, regulators, and academics, with the first webinar scheduled for 30 September 2025.
Financial literacy & educationFinancial literacy and education
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2025-09-16•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC signed a data sharing agreement with the Department of Finance to enhance corporate data access for the Philippine Extractive Industries Transparency Initiative. This supports transparency and aligns with Financial Action Task Force standards to combat corruption and illicit financial flows in the extractive industry. The SEC is committed to beneficial ownership disclosure and has similar agreements with 23 law enforcement agencies.
Policy & regulationCooperationBeneficial ownership
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2025-09-16•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) is consulting on amendments to the UK Solvency II framework for third-country insurance branches, proposing to raise the subsidiarisation threshold from GBP 500 million to GBP 600 million. Changes include replacing routine reporting waivers with rule-based requirements, affecting branches with GBP 1 billion in gross written premiums or GBP 2 billion in provisions. Additional measures clarify supervisory expectations and embed existing investment relief for pure reinsurance branches into the Rulebook.
Policy & regulationRules & requirementsRegulatory burden
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2025-09-16•Poland•Central Bank of Poland
The Central Bank of Poland reported August 2025 core inflation indices, with Consumer Price Index inflation at 2.9% year on year and core inflation excluding food and energy at 3.2%, down from 3.3% in July. Other core measures also eased, including inflation excluding administered prices at 2.5% and the 15% trimmed mean at 3.0%. The bank emphasized the food-and-energy-excluding measure for its responsiveness to monetary policy.
Data & statisticsMonetary data
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2025-09-16•Spain•Ministry of Finance (Spain)
Spain's Council of Ministers approved a modification to the CNMV's 2025 budget, adding EUR 9,110,000 in expenditures and EUR 5,839,000 in income, resulting in a net increase of EUR 3,271,000. This adjustment accommodates new CNMV functions, including costs for 81 new positions and increased external services related to its role as a resolution authority for central counterparties. The change, exceeding 5% of the CNMV's 2023 budget, required Council approval under Spain's Securities Markets and Investment Services Law.
Institutional developmentMandate & organizational structureMandate change
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2025-09-16•Global•ISDA
The International Swaps and Derivatives Association (ISDA) outlined priorities including readiness for mandatory US Treasury clearing by end-2026, completion of Basel III capital reforms, and adoption of the ISDA Notices Hub. Key issues include addressing capital framework changes to support client clearing, managing cross-jurisdictional Basel III implementation complexities, and expanding digital regulatory reporting.
Policy & regulationReform agendas & prioritiesTrading
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2025-09-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Elizabeth Warren and Raphael Warnock urged the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to withdraw their proposal to rescind the 2023 Community Reinvestment Act (CRA) final rule. They argue reverting to the 1995 framework would hinder investment in low- and moderate-income communities and counteract efforts to address redlining. Supported by additional senators, the letter asserts the 2023 rule is lawful and within statutory authority.
Policy & regulationRules & requirementsFinancial inclusion
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2025-09-16•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission Board has approved senior management appointments and organizational restructuring effective 1 January 2026. Ms. Sucha Boonyanate will become Deputy Secretary-General, overseeing the Fundraising and Accounting Supervision and Sustainable Development Divisions, while Mr. Siwakorn Karnasuta will be Assistant Secretary-General for the Legal Division. The restructuring reallocates divisions under various Deputy Secretaries-General, including Mr. Thawatchai Pittayasophon, Ms. Jomkwan Kongsakul, and Mr. Anek Yooyuen.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-16•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper addressing the economic and financial risks posed by climate change, emphasizing the need for enhanced risk assessment tools and improved stress testing. The paper highlights potential GDP losses of 1–2% annually due to climate impacts, while also noting possible benefits if preventive measures are implemented. Feedback on the proposed methods for assessing these risks is invited.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-09-16•Russia•Central Bank of Russia
The Central Bank of Russia has unveiled the draft Russian Financial Market Development Programme for 2026–2028, focusing on capital market development, IPO transparency, long-term investment appeal, and investor protection. It emphasizes digital and payment infrastructure projects and financial market innovations while addressing systemic risks. The programme incorporates feedback from financial institutions, aligns with current economic objectives, and discussions in the State Duma are anticipated.
Policy & regulationReform agendas & prioritiesMarket development
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2025-09-16•Russia•Central Bank of Russia
The Central Bank of Russia reported an average maximum interest rate of 15.59% on Russian ruble deposits for the first 10 days of September 2025, based on data from the 10 largest credit institutions by household deposits. The rates, excluding special conditions and specific deposit categories, varied by maturity, with 15.14% for up to 90 days and 12.39% for over one year.
Data & statisticsFinancial and market indicators
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2025-09-16•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria issued a circular to Domestic Systemically Important Banks (DSIBs) detailing succession-planning expectations for Managing Director/Chief Executive Officers (MD/CEOs). DSIBs must secure approval for successor appointments six months before the current MD/CEO's tenure ends and publicly announce successors three months prior to the planned exit. The circular emphasizes compliance with the Central Bank's Corporate Governance Guidelines.
Policy & regulationRules & requirementsLeadership change and appointments
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2025-09-16•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) and the IOTA Foundation are partnering to explore how the Legal Entity Identifier (LEI) and verifiable LEI (vLEI) can enhance secure digital identity in global supply chains, aiming to improve transparency and reduce friction in cross-border trade. Initial proof-of-concept work focuses on streamlining customs checks, simplifying supply chain processes, enabling secure digital payments, and expanding trade finance access.
Policy & regulationImplementation, projects & pilots
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2025-09-16•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) partnered with the IOTA Foundation to explore using the Legal Entity Identifier (LEI) and verifiable LEI (vLEI) for secure digital identity in global supply chains. They aim to leverage IOTA's distributed ledger technology to enhance transparency and reduce cross-border trade friction. Initial proof-of-concept work targets streamlining customs checks, simplifying supply chain processes, enabling secure digital payments, and expanding trade finance access.
Policy & regulationImplementation, projects & pilots
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2025-09-16•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning against Aurora Stocks, stating it is not registered to deal or advise in securities in New Brunswick. The alert clarifies that this warning does not apply to other similarly named businesses, such as Aurora Cannabis Inc. The UK Financial Conduct Authority has also warned that Aurora Stocks has been impersonating the legitimately authorised Aurora Financial IFA Limited.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-16•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission warned against Aurora Stocks and CapricornXPro, stating they are not registered to deal or advise in securities in New Brunswick. Aurora Stocks falsely claims association with the authorised Aurora Financial IFA Limited, while CapricornXPro is linked to complaints involving Quantum. Investors should verify registration status using the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-16•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission issued a warning against CapricornXPro, which is not registered to deal or advise in securities in New Brunswick. The alert highlights the firm's operations through various websites and advises investors to avoid unregistered firms. Similar warnings were issued by the Manitoba Securities Commission and Quebec's Autorité des marchés financiers.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-16•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) requires credit providers extending credit to natural persons, excluding consumers, to register with the Positive credit register by 31 October 2025. This applies to professional traders, even if not supervised by FIN-FSA, with exceptions for occasional credit or credit for purchasing the trader's own products. Reporting includes credit to business name entrepreneurs and agricultural operators with Finnish residency and identity code.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-09-16•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's chair, Mohamed Farid, emphasized non-banking financial services for real estate funding and reported 17 applications under the Authority’s digital platform for real estate investment funds. Farid noted 30 securitisation bond issuances totaling EGP 77.2bn, 36.6% of total issuance value from 2022 to August 2025. Updates to Egyptian accounting standards and potential listing incentives were also discussed to bolster institutional investment and the securities market supply side.
Policy & regulationImplementation, projects & pilotsMarket developmentSecurities offerings and listings
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2025-09-16•United States•Federal Reserve Board
Dr. Stephen I. Miran has joined the Board of Governors of the Federal Reserve System after being confirmed by the United States Senate. His term will conclude on 31 January 2026.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-16•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets announced a memorandum to establish a modern stock exchange with the Bucharest Stock Exchange to develop the capital market and attract investment. The EUR 3 million public-private project involves a consortium including Moldova Agroindbank and Vienna Insurance Group, focusing on financing for SMEs and expanding investment opportunities. The exchange will utilize BVB technology for secure and transparent trading.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-09-16•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved a bond prospectus for GEK TERNA SA and authorised POS Global Investors S.A. as an Alternative Investment Fund Manager. It also approved a squeeze-out by OLYMPIA HOLDINGS S.A., delisted KEPENOU MILLS S.A. and METLEN ENERGY & METALS S.A. from the Athens Stock Exchange, and removed DASK Capital from its virtual asset-related registers.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-16•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's report on Njord Alternative Investments AS highlights non-compliance with sustainability disclosure requirements. The firm used misleading marketing by displaying a "Signatory of PRI Principles for Responsible Investments" logo without corresponding SFDR commitments and failed to publish required "comply or explain" disclosures under SFDR Articles 4 and 7 on principal adverse impacts.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-09-16•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority has released a Pension Plan Administrators’ Guide to enhance governance for employer-sponsored pension plans. The guide centralizes BCFSA materials and industry resources, focusing on minimum standards under the Pension Benefits Standards Act and Regulation.
Policy & regulationGuidance & interpretationCorporate governance
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2025-09-16•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) released a Pension Plan Administrators’ Guide to enhance governance for employer-sponsored pension plans in British Columbia. The guide centralizes access to BCFSA resources and industry materials, aligning with minimum standards under the Pension Benefits Standards Act and Regulation.
Policy & regulationGuidance & interpretationCorporate governance
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2025-09-16•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing met with IOSCO Board Chair Jean-Paul Servais and Secretary General Rodrigo Buenaventura to discuss strengthening IOSCO's role and advancing multilateral cooperation in global securities regulation.
Policy & regulationCooperationCross-border cooperation
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2025-09-16•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) president, Roberto E. Silva, discussed the CNV's regulatory framework for tokenisation and Virtual Asset Service Providers (PSAVs) at a Cámara de Sociedades forum. He addressed questions on the Regime for Tokenisation of Negotiable Securities and the PSAV regulatory regime. The session was part of broader discussions on financing projects in sectors like mining, energy, and agribusiness.
Policy & regulationGuidance & interpretation
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2025-09-16•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) participated in the second Economic Cybercrime Meeting organized by the Córdoba Public Prosecutor’s Office. CNV's Victoria Donato discussed criminal policy and cryptoassets, focusing on prosecution challenges and Argentina’s crypto ecosystem. The event emphasized emerging challenges, prevention tools, and public-private collaboration in the crypto sector.
Policy & regulationCooperationCyber resilienceRegtech and suptech
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2025-09-16•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued General Resolution No. 1085 to amend its framework for Collective Investment Products, streamlining authorisation and registration by removing non-essential requirements. The changes harmonise rules for Financial Trusts and Common Investment Funds, consolidating provisions and creating specific chapters for each regime. This reorganisation reduces the rule text by 33 articles.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-16•South Korea•Bank of Korea
The Bank of Korea reported that in August 2025, both the Export and Import Price Indexes rose month-on-month by 0.7% and 0.3%, respectively, but declined year-on-year by 1.0% and 2.2%. The Net Barter Terms of Trade Index improved by 2.9% compared to the previous year.
Data & statisticsEconomic data and developments
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2025-09-16•United States•U.S. Department of the Treasury
The U.S. Treasury's OFAC designated two Iranian financial facilitators and over a dozen individuals and entities in Hong Kong and the UAE for coordinating funds transfers benefiting the Islamic Revolutionary Guard Corps-Qods Force and Iran’s Ministry of Defense. This action, under Executive Order 13224, targets Iran's "shadow banking" infrastructure, blocking all U.S. jurisdictional property of the designees and warning foreign financial institutions of potential secondary sanctions.
EnforcementSanctions & designationsNew sanctions designations
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2025-09-16•Moldova•National Bank of Moldova
The National Bank of Moldova participated in the International Conference on Anti-Money Laundering (AML) and Compliance in Chisinau, with Governor Anca Dragu emphasizing the importance of compliance and international cooperation for financial stability and European integration. Discussions addressed AML and compliance trends, risks related to beneficial owners, fraud prevention, and digital solutions.
Policy & regulationInternational standards & recommendationsAML and CFTCompliance
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2025-09-16•Moldova•National Bank of Moldova
The National Bank of Moldova issued Decision No. 210, approving a regulation for insurance companies to conduct simultaneous activities, effective 16 October 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-16•Isle of Man•The Treasury (Isle of Man)
The Treasury (Isle of Man) amended the Customs (Contravention of a Relevant Rule) Regulations 2009, introducing a new civil penalty for breaches related to the movement or examination of goods, effective 15 September 2025. The amendment includes a fine of up to GBP 1,000 for failing to transport goods to designated examination locations. This update aligns Isle of Man customs rules with the United Kingdom under the Customs and Excise Agreement 1979.
Policy & regulationRules & requirementsOther
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2025-09-16•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE's Governor, Khaled Mohamed Balama, attended the 85th Gulf Cooperation Council Central Bank Governors Committee meeting in Kuwait. Discussions focused on strengthening cooperation in monetary policy, financial systems, and banking services, with emphasis on payment systems, supervision, financial technology, cybersecurity, international cooperation, and combating money laundering and terrorism financing.
Policy & regulationCooperationCross-border cooperationMonetary policy decisions and developments
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2025-09-15•South Africa•National Treasury (South Africa)
South Africa's National Treasury, via Deputy Minister Ashor Sarupen, stressed financial inclusion at the G20 Global Partnership for Financial Inclusion Working Group, focusing on transitioning from access to usage of financial services for underserved groups. The speech highlighted the economic importance of MSMEs and the informal sector, advocating for better financial literacy, consumer protection, and tailored financial products. Domestically, the National Treasury's Financial Inclusion Policy and legislative reforms aim to enhance financing channels, including the Johannesburg Stock Exchange and non-bank finance options.
Policy & regulationReform agendas & prioritiesSME financing
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2025-09-15•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported its August 2025 balance sheet, showing total assets of EUR 1.98 billion, an increase of EUR 119.03 million from July. International reserve assets rose to EUR 1.56 billion, driven by higher deposits from the Budget of the Republic of Kosovo, commercial banks, the Kosovo Privatization Agency, and pension funds. Investments abroad in deposits and securities reached EUR 1.46 billion, with central bank deposits totalling EUR 1.69 billion.
Data & statisticsBalance of payments and other external statistics
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2025-09-15•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has partnered with Ant International to enable Alipay+ payments in Saudi Arabia via the National Payment System (mada) by 2026. Announced at the Money20/20 Middle East conference, this initiative supports SAMA's goal to enhance the digital payments ecosystem under Saudi Vision 2030, promoting a shift towards a less cash-dependent economy. The integration will allow visitors and global digital wallet users to transact with participating merchants.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-15•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) launched Google Pay in Saudi Arabia via the mada national payment system, announced at the Money20/20 Middle East Conference in Riyadh. This allows users to manage mada and credit cards through Google Wallet for digital payments. It aligns with SAMA's agenda to enhance digital payments under the Financial Sector Development Program and Saudi Vision 2030, promoting a less cash-dependent economy.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-15•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank has granted Vision Bank a non-objection to begin digital banking operations in Saudi Arabia. This decision aligns with SAMA's strategy to enhance financial sector stability, stimulate economic growth, and support Saudi Vision 2030 objectives, including financial inclusion and digital economy development.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-15•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority and the Central Bank of Syria discussed expanding cooperation in financial services during Money 20/20 Middle East. Key topics included technical support, banking supervision, fintech, payments, monetary policy, and remittance regulation. The governors agreed to maintain communication and exchange visits, with the Syrian governor also meeting Saudi bank officials to explore further collaboration.
Policy & regulationCooperationDomestic cooperation
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2025-09-15•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced the start of the IMF's annual Article IV consultations in Podgorica, focusing on Montenegro's economy, outlook, and policies. The IMF delegation, led by Srikant Seshadri, is engaging with key government officials and private sector representatives to discuss economic trends and financial stability. Preliminary findings will be presented on 26 September at a joint press conference.
ResearchEconomic data and developmentsFinancial stability and systemic risk
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2025-09-15•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission conducted a workshop at the Competition Regulatory Authority to enhance cooperation and align regulatory practices. The session featured presentations on capital markets fundamentals, regulatory principles, and frameworks, with opening remarks by Board Member Dr Nelson Lembe.
Policy & regulationCooperationCross-border cooperation
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2025-09-15•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority fined Investors Group Holding Company and executives, including the chairman, vice chairman, and CEO, for breaches of Listing Rules, Corporate Governance rules, and securities activities requirements. The company was fined KD 10,000 for not applying IFRS 10 and KD 1,000 for late financial statement filing. Additional fines were imposed on board members and the external auditor for governance and audit-related breaches.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-09-15•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KD 10,000 penalty on Arabi Group Holding Company for failing to submit interim financial statements as required by the Listing Rules. The breach pertains to Item (1) of Article (1-16-1) of Module Twelve of the Executive Bylaws of Law No. 7 of 2010. The company missed the submission deadline for the period ending 31 March 2025, and the statements remained outstanding at the time of the decision.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-09-15•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority’s Disciplinary Board fined Equipment Holding Company KD 10,000 for breaching disclosure and transparency requirements for listed companies. The penalty, under Disciplinary Board Resolution No. 23/2025, pertains to the company's failure to disclose a capital restructuring agenda item on Boursa Kuwait as required by the Executive Bylaws to Law No. 7 of 2010.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-09-15•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KD 10,000 penalty on Kuwait Business City Real Estate Company for breaching disclosure and transparency requirements. The company failed to disclose a KD 10,000,000 investment in bank bonds on Boursa Kuwait Stock Exchange, violating Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-09-15•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) announced that the Steering Committee of the National Working Group on Reference Rate Reform approved recommendations for new banking, leasing, and factoring products based on POLSTR. The recommendations were finalized after addressing public consultation feedback.
Policy & regulationGuidance & interpretationFinancial benchmarks
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2025-09-15•Italy•Italian Securities Commission (Consob)
The Italian, French, and Austrian financial authorities issued a joint paper advocating for a stronger EU supervisory framework for crypto markets, citing cyber risk gaps and non-EU platform access. Despite MiCA's EU authorisation requirement, national supervisory differences persist. They propose direct ESMA supervision and enhanced cyber-risk oversight, aligning with 2023 recommendations from the Financial Stability Board and IOSCO.
Policy & regulationCooperation
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2025-09-15•Europe•European Banking Authority
The European Banking Authority released a revised list of validation rules under its Implementing Technical Standards on supervisory reporting, noting deactivated rules due to errors or IT issues. EU competent authorities are advised not to validate submissions against these deactivated rules. A small validation package, including a micro taxonomy package and update scripts, is required from release 4.0 for consistent rule deactivation.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-09-15•Global•Bank for International Settlements
The Bank for International Settlements (BIS) published a Quarterly Review article analyzing its debt securities statistics, revealing a shift from loans to bonds in global debt financing since the 2008–09 crisis. By end-2024, global debt securities exceeded USD 150 trillion, with government issuance driving market expansion. The article highlights challenges in monitoring risks due to shifts in currency and duration exposures, particularly for non-bank financial institutions and non-financial corporations.
ResearchMarket developmentFinancial stability and systemic risk
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2025-09-15•Global•Bank for International Settlements
The Bank for International Settlements has introduced a new taxonomy for classifying central banks' monetary policy frameworks, moving beyond traditional "corridor" and "floor" labels. This classification uses two dimensions: the marginal opportunity cost of holding reserves and the quantity of reserves. Research applied to 12 jurisdictions reveals significant variations in these dimensions and unexpected similarities across different frameworks.
ResearchMonetary policy operations
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2025-09-15•France•France Autorite des marches financiers
France's Financial Markets Authority, Austria's Financial Market Authority, and Italy's National Commission for Companies and the Stock Exchange propose enhancing the EU supervisory framework for crypto-asset markets due to national divergences in MiCA implementation. Key proposals include ESMA direct supervision of major providers, stricter requirements for EU-facing platforms outside the EU, and enhanced cybersecurity measures. They also suggest a clearer process for reviewing crypto-asset white papers and a potential ESMA-run single filing point for token offerings, excluding stablecoins.
Policy & regulationCooperationFintech and insurtechRegulatory reporting
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2025-09-15•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) joined Expo Mercado de Valores 2025 in Santo Domingo, supporting financial literacy and responsible investment. Key figures included Vice President Raquel Peña and Central Bank Governor Héctor Valdez Albizu, discussing securities market transactions and regulatory updates. SIPEN promoted its conocetufuturo.do platform for retirement financial planning.
Financial literacy & educationFinancial literacy and educationMarket development
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2025-09-15•Australia•Australian Securities & Investments Commission
ASIC has initiated four civil penalty proceedings against ANZ, seeking AUD 240 million in penalties after ANZ admitted to alleged misconduct. The cases involve unconscionable dealing in a AUD 14 billion bond transaction, inflated bond turnover reporting, and failures in handling customer hardships, affecting nearly 65,000 customers. The Federal Court will assess the proposed penalties, including a record AUD 80 million for unconscionable conduct.
EnforcementInvestigations & enforcement actions
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2025-09-15•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has initiated four Federal Court proceedings against ANZ Bank, seeking AUD 240 million in penalties for contraventions in a Commonwealth bond transaction and retail misconduct affecting nearly 65,000 customers. Allegations include unconscionable and misleading conduct, inefficient operations, and customer harm, with issues in bond trading, financial hardship notices, bonus interest promotions, and deceased estate handling. ASIC proposes an AUD 80 million penalty for unconscionable conduct, pending court approval, and will monitor ANZ's remediation efforts and risk management.
EnforcementInvestigations & enforcement actions
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2025-09-15•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has extended its deposit product disclosure relief for authorised deposit-taking institutions (ADIs) until 1 October 2030. This exempts ADIs from including interest rates in Product Disclosure Statements (PDS) and termination values in periodic statements, provided current interest rates are accessible and early termination restrictions or fees are disclosed in the PDS. ASIC will monitor the relief's effectiveness and stakeholder feedback.
Policy & regulationRules & requirementsRegulatory burden
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2025-09-15•Papua New Guinea•Bank of Papua New Guinea
The Bank of Papua New Guinea released its September 2025 Economic Outlook, available for download in PDF format.
ResearchEconomic data and developments
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2025-09-15•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) engaged with the Tabora Press Club to brief journalists on the insurance sector and TIRA's supervisory role, including licensing, compliance, and digital systems. Discussions highlighted challenges such as low public understanding of insurance and claims delays. TIRA plans ongoing media collaboration for public education on insurance and consumer rights.
Financial literacy & educationFinancial literacy and education
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2025-09-15•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye is organizing a paper contest for university students to explore topics such as central banks and digital currencies, the impact of price stability on social welfare, and the evolution of its monetary policy tools. The initiative aims to engage students in economic discourse and enhance their understanding of economic developments.
Financial literacy & educationOther
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2025-09-15•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) issued a step plan to nineteen crowdfunding platforms to enhance compliance with the European Crowdfunding Regulation. The plan outlines six key areas, including information provision and ICT risk management, for platforms to improve service delivery and operations. AFM will maintain risk-based supervision and thematic compliance reviews focusing on these areas.
SupervisionInterventionsCrowdfunding
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2025-09-15•Peru•Central Bank of Peru
The Central Bank of Peru reported a 4.4% increase in national formal employment in July 2025, marking sixteen consecutive months of growth and adding 259,000 new formal jobs. Private sector formal employment rose 5.9% year on year, with significant job creation in agriculture, services, and commerce. Electronic payroll data shows private formal employment reached 4.410 million jobs, up from 4.166 million a year earlier.
Data & statistics
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2025-09-15•Mozambique•Insurance Supervision Institute of Mozambique
Mozambique's Government approved a draft law to establish a new Insurance and Pension Funds Supervisory Authority, dissolving the Insurance Supervision Institute of Mozambique. The new authority aims to enhance anti-money laundering and counter-terrorism financing controls, align with international principles, and improve transparency to meet Financial Action Task Force recommendations. The revised regime will introduce a customer ombudsman, redefine reinsurance risk distribution, expand offences, strengthen sanctions, and set market conduct rules.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-09-15•Italy•Bank of Italy
The Bank of Italy will participate in European Researchers' Night 2025 during Science Week, hosting talks and outreach activities in Frascati to engage citizens with the scientific community. Events include sessions on quantum physics, future money, and climate risks, alongside exhibitions and interactive activities at the Donato Menichella Centre. Participation is limited to 500 attendees with prior online registration.
Financial literacy & educationClimate risk and sustainable finance
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2025-09-15•Georgia•National Bank of Georgia
The National Bank of Georgia released an interactive press release detailing money transfer statistics for August 2025, accessible on its website's statistics section.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-15•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) issued Regulation No. 19 of 2025 to enhance MSME financing access, mandating simplified credit processes and inclusive, lower-cost financing while upholding prudential standards. The regulation requires financial institutions to adopt tailored policies, including intellectual property as collateral, alternative credit rating tools, and digital ecosystem support. It applies to various financial entities and includes governance, risk management, and consumer protection measures.
Policy & regulationRules & requirementsSME financing
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2025-09-15•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced Duncan Stewart's 18-month sentence for insider trading in Kidman Resources Limited shares, with immediate release upon a AUD 10,000 recognisance and a AUD 64,975.48 penalty. Stewart pleaded guilty to using inside information on a Wesfarmers Limited takeover proposal, profiting approximately AUD 64,975.48. ASIC highlighted its 2025 focus on insider trading, backed by a new criminal investigation taskforce from late 2024.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-09-15•Indonesia•Bank Indonesia
Bank of Indonesia reported a decline in Indonesia's external debt to USD 432.5bn in July 2025, down from USD 434.1bn in June, with year-on-year growth slowing to 4.1%. The decrease was driven by slower public sector debt growth and US dollar appreciation against the rupiah. Government external debt was USD 211.7bn, primarily long-term, while private external debt remained stable at USD 195.6bn, with a 0.3% contraction year-on-year.
Data & statisticsBalance of payments and other external statistics
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2025-09-15•United States•National Association Of Insurance Commissioners
The U.S. National Association of Insurance Commissioners issued an advisory highlighting state and territorial Departments of Insurance as free resources for understanding insurance, resolving disputes, and reporting misconduct. Services include policy explanation, complaint handling, enforcement actions, consumer education, licensing, financial monitoring, and fraud investigations. Insurance departments do not set prices or act as legal counsel but can investigate unfair practices.
Financial literacy & educationConsumer and investor protection
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2025-09-15•Europe•European Banking Authority
The European Banking Authority (EBA) announced that Chairperson José Manuel Campa will step down at the end of January 2026 for personal reasons. Campa, who has served since March 2019, will remain engaged to ensure a smooth leadership transition. The EBA will begin its standard open selection process for a new Chairperson, subject to European Parliament approval.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-15•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority has appointed Mr. John Hinchliffe as Statutory Manager of Fima Enterprises Pty Ltd under section 62(1) of the NBFIRA Act, 2023, effective 26 August 2025. Stakeholders are directed to address all queries, complaints, and claims to the Statutory Manager.
SupervisionInterventionsOther
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2025-09-15•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority appointed Mr. John Hinchliffe as the statutory manager of Inkunzi Investments (Pty) Ltd under Section 62(1) of the NBFIRA Act, 2023, effective 26 August 2025. Stakeholders are advised to direct queries and claims to the statutory manager.
SupervisionInterventionsOther
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2025-09-15•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC reminded financial services of their duty to report activities linked to child sexual exploitation. It stressed the importance of suspicious matter reports from banks and digital platforms in aiding law enforcement. Highlighting the 'sextortion' threat to minors, AUSTRAC noted Operation Huntsman's closure of over 3,000 related bank accounts. A financial crime guide with red flags was provided, including low-value transactions under AUD 500 coded as innocuous items.
SupervisionAlertsAML and CFT
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2025-09-15•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) highlighted its efforts to enhance gender diversity in corporate governance through an opinion article by President Margarida Corrêa de Aguiar. ASF's Public Consultation No. 9/2025 proposes recommendations for improving gender balance in management and supervisory bodies of insurance and pension fund entities, advocating for diversity objectives and transparent practices without imposing quotas.
Policy & regulationGuidance & interpretationDiversity and inclusion
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2025-09-15•Laos•Bank of the Lao
The Bank of the Lao has launched a senior-level training course at its Banking Institute to enhance senior management capabilities in public administration, leadership, and governance. Chaired by Deputy Governor Vathana Dalaloy, the program includes 22 department and regional branch heads and features lectures from former Deputy Minister of Interior Siphak Vongphakdy. The curriculum covers change management, civil service management, and anti-corruption.
Institutional developmentCooperation & capacity buildingOther
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2025-09-15•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance outlined a tax reform prioritizing direct tax reductions for families, young people, and low-income pensioners. Measures include tax scale changes for self-employed individuals, exemptions for self-employed mothers, and benefits for those in small settlements. Property owners will see reduced taxation, and tenants may receive a rent refund, pending a ministerial decision.
Policy & regulationReform agendas & prioritiesOther
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2025-09-15•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a state budget surplus of EUR 2,160 million for January–August 2025, surpassing the target of a EUR 1,381 million deficit. The primary surplus reached EUR 8,696 million, exceeding the target by EUR 3,767 million, with net state budget revenues slightly above target and expenditures EUR 3,356 million below target. The ministry noted timing effects in expenditure and revenue, which do not impact the general government fiscal result.
Data & statisticsOther
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2025-09-15•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau announced that Invest Hong Kong has facilitated over 200 family offices to establish or expand operations in Hong Kong, surpassing the government's target ahead of schedule. This aligns with the March 2023 policy statement, which introduced measures like tax concessions and the New Capital Investment Entrant Scheme. The government plans to further enhance tax regimes for funds and family offices, while InvestHK will continue international outreach and collaboration efforts.
Policy & regulationImplementation, projects & pilotsOther