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2025-09-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has secured Federal Court orders to appoint receivers to SRI Fiduciaries 2 Pty Ltd and SRI Fiduciaries 3 Pty Ltd, freezing their assets to protect investor funds amid an ongoing investigation. The action involves Australian Fiduciaries Limited and related entities, with around 600 retail investors having invested approximately AUD 160 million since February 2020. ASIC's investigation addresses concerns over conflicts of interest, investment pathways, and asset valuation.
EnforcementInvestigations & enforcement actionsCorporate governanceClient asset custody and safekeeping
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2025-09-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that the Federal Court extended freezing orders on the bank accounts of First Mutual Private Equity Pty Ltd and its director, Gregory Raymond Cotton, to protect investor funds amid an ongoing investigation. Initially made on 15 August 2025, the orders prevent new liabilities or fund transfers and require Mr. Cotton to disclose assets and liabilities by 25 September 2025. ASIC suspects approximately AUD 53 million received by First Mutual and Mr. Cotton may have been misused for gambling rather than investments.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-09-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has issued a new legislative instrument, ASIC Corporations Instrument 2025/234, consolidating and continuing relief from three financial advice-related instruments set to sunset on 1 October 2025. This follows stakeholder-supported consultation, with feedback on general advice limitations shared with the Treasury. The remake aligns with the Legislation Act 2003 sunsetting framework.
Policy & regulationRules & requirementsOther
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2025-09-11•Indonesia•Bank Indonesia
Bank of Indonesia's latest Retail Sales Survey forecasts a 2.7% year-on-year rise in the Real Sales Index (RSI) for August 2025, with a month-on-month contraction easing to 0.3%. Key growth contributors include Spare Parts and Accessories, Automotive Fuel, and Cultural and Recreational Goods. Inflationary pressures are expected to remain stable until October 2025, with an increase anticipated by January 2026.
Data & statisticsEconomic data and developments
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2025-09-11•China•Central Bank of the Republic of China
The People's Bank of China and Bank Indonesia have activated their bilateral Local Currency Transaction framework and initiated pilot operations for cross-border QR code interoperability, enhancing local-currency settlement and retail payments connectivity. This upgrade extends a 2020 arrangement to cover all balance-of-payments items. Local-currency settlement under the framework reached USD 6.23 billion from January to July 2025, 45% of Indonesia's total local-currency settlement with trading partners.
Policy & regulationCooperationCross-border cooperation
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2025-09-11•Guernsey•Ministry of Finance (Guernsey)
Guernsey's Committee for Economic Development outlined its digital assets strategy at the inaugural Guernsey Digital Assets Conference, emphasizing regulatory integrity and innovation. The Committee will examine digital assets and decentralized finance in the upcoming Finance Sector Policy Framework, developed with key local financial entities. Further updates on the framework are expected soon.
Policy & regulationReform agendas & prioritiesFintech and insurtechBlockchain and distributed ledger technology
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2025-09-11•Laos•Bank of the Lao
The Bank of the Lao PDR hosted a seminar with over 300 participants from government, international organisations, and the financial industry to discuss macroeconomic and policy issues, including online financial fraud. Key discussions focused on maintaining the Lao kip's value, foreign-exchange management, financial institution supervision, and modernising payment operations with enhanced cybersecurity. The event was part of activities leading up to the fifth congress of the Bank's party committee.
Policy & regulationCooperationOther
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2025-09-11•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance reported strong uptake of the extrajudicial debt settlement mechanism in August 2025, despite the month being excluded from statutory time limits. The update highlighted 1,231 restructurings totaling EUR 317m, marking significant increases from previous years, and noted 17.5% of non-performing loans in banks' portfolios under restructuring in the first half of 2025. Bilateral restructurings with major credit servicers reached EUR 383m across 7,167 debtors in July, with nationwide support available via the gov.gr platform.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-11•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance introduced measures for property owners, including a 25% tax rate and extended incentives to boost long-term housing supply. Key measures involve tax exemptions for vacant homes leased long-term, VAT suspension on new buildings, and phased abolition of the ENFIA real estate tax in small settlements. The ministry is reviewing proposals from the Panhellenic Federation of Property Owners to enhance rental supply.
Policy & regulationRules & requirementsOther
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2025-09-11•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission and Abu Dhabi Global Market’s Financial Services Regulatory Authority co-hosted a roundtable in Hong Kong to explore opportunities for Hong Kong asset managers in ADGM, leveraging the UAE fund passporting regime. Attended by over 20 senior executives, this event follows a Memorandum of Understanding signed in May 2025 to enhance cooperation on supervising investment managers of collective investment schemes. Additionally, ADGM FSRA conducted a seminar on regulatory requirements for cross-border fund distributions.
Policy & regulationCooperationCross-border cooperation
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2025-09-11•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario appointed Tracey Chinman as Executive Vice President, Corporate Services, effective September 17. Chinman will lead finance, risk, audit, and IT, focusing on strengthening internal capabilities and modernizing corporate systems. Her background includes risk management and governance roles, notably at Home Trust Company.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Mortgage Corporation Limited (HKMC) signed a memorandum of understanding with China International Capital Corporation Limited to collaborate on infrastructure financing and securitisation. This partnership aims to leverage capital market opportunities, expand the investor base, and explore renminbi opportunities for infrastructure loan securitisation. The MoU was signed in the presence of Howard Lee, Executive Director of HKMC and Deputy Chief Executive of the Hong Kong Monetary Authority.
Policy & regulationCooperationMarket developmentDomestic cooperation
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2025-09-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert following reports from four banks about fraudulent websites and phishing scams. The alert involves The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Bank of China (Hong Kong). The HKMA emphasized that banks will not request sensitive information via SMS, email, or phone.
SupervisionAlertsFraud and scams
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2025-09-11•Latin America•Financial Action Task Force of Latin America (GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT) conducted a training course in Sucre, Bolivia, to enhance efforts against money laundering and terrorist financing. Supported by Spanish experts and Bolivia’s Financial Investigations Unit, the course covered AML/CFT frameworks, risk assessment, and special investigative techniques. This initiative is part of GAFILAT's annual training activities for national and regional authorities.
Policy & regulationImplementation, projects & pilotsAML and CFTCapacity building
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2025-09-11•Ghana•Bank of Ghana
Bank of Ghana Governor Dr. Johnson P. Asiama emphasized enhancing SME access to finance and supporting firms in export and sustainability standards. He highlighted financial sector reforms, including strengthening bank capital, supervisory frameworks, and credit infrastructure, alongside promoting green finance and digital services. He also outlined foreign exchange reforms to enhance interbank activity, curb speculative demand, and promote cedi-based instruments.
Policy & regulationReform agendas & prioritiesSME financingMarket development
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2025-09-11•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) joined Finance of Tomorrow 2025, discussing regulatory approaches to financial inclusion and AI risks. Superintendent Alessandro Octaviani highlighted SUSEP's review of rules to expand financial access and the insurance protection gap, referencing Complementary Law No 213/2025. Director Júlia Normande Lins discussed SUSEP’s Insurance Innovation Laboratory, focusing on AI risk supervision with the Institute of Pure and Applied Mathematics.
Policy & regulationReform agendas & prioritiesArtificial intelligenceSupervision process and methodologies
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2025-09-11•Kyrgyzstan•Ministry of Finance (Kyrgyzstan)
Kyrgyzstan’s Ministry of Finance marked the 20th anniversary of the State Financial Intelligence Service, emphasizing achievements in combating money laundering and terrorist financing. Key officials and international representatives highlighted the importance of inter-agency and international cooperation, underscoring the service's role in economic and financial security.
OtherAML and CFTCross-border cooperation
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2025-09-11•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines authorized Rural Bank of Sta. Rosa (Laguna), Inc. to change its corporate name to Salmon Bank (Rural Bank) Inc. The Securities and Exchange Commission approved the bank’s amended articles of incorporation and by-laws reflecting this change.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-11•South Africa•South African Reserve Bank
The South African Reserve Bank reported a widening of the current account deficit to R82.8 billion (1.1% of GDP) in Q2 2025, up from R47.8 billion (0.6% of GDP) in Q1. The goods trade surplus narrowed due to a R23.3 billion decrease in export values and an R8.2 billion increase in imports. The services, income, and current transfer account shortfall slightly widened, with terms of trade deteriorating as import prices rose more than export prices.
Data & statisticsBalance of payments and other external statistics
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2025-09-11•Aruba•Central Bank of Aruba
The Central Bank of Aruba's 2024 Operational Report reveals a record net financial result of Afl 70.4 million, driven by a 138.6% increase in net interest revenues and a significant rise in foreign investments. Total assets grew by 29.2% to Afl 3,490.3 million, with capital and reserves up by 21.1% to Afl 29.3 million. The report also outlines progress on strategic projects and plans for a new strategic plan for 2026–2030.
Data & statisticsActivity and performance reporting
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2025-09-11•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) will join the CORE Summit 2025 in São Paulo, focusing on cybersecurity and digital resilience for Brazil’s closed pension fund sector. PREVIC officials will address cyber threats, financial stability, and emerging risks like ransomware and malicious AI. The International Organisation of Pension Supervisors (IOPS) may also consider incorporating cyber risk into its supervisory principles.
SupervisionSupervision approach, priorities & toolkitCyber resilience
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2025-09-11•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released a consultation paper on a proposed class exemption for foreign-incorporated entities from New Zealand climate reporting duties, with submissions due by 24 October 2025.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-09-11•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) warned about a counterfeit surety bond policy falsely attributed to Finnish insurer FÖRSÄKRINGSAKTIEBOLAGET ALANDIA, which does not issue such policies. Alandia, previously authorised in Italy, has renounced its authorisation for surety bonds, and IVASS updated its register. IVASS advises consumers to verify insurers and intermediaries' legitimacy through its website before making payments.
SupervisionAlertsFraud and scams
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2025-09-11•Rwanda•Ministry of Finance (Rwanda)
Rwanda’s Ministry of Finance, with partners like GIZ, launched a phased roadmap for the Rwanda Green Taxonomy (RGT) and introduced the Rwanda Green Taxonomy Navigator, a digital platform to aid adoption. The RGT sets sustainability criteria to guide financial flows toward green investments, while the Navigator helps users apply the taxonomy and classify projects. Stakeholder feedback will refine the Navigator and support the RGT rollout.
Policy & regulationImplementation, projects & pilotsGreen taxonomy
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2025-09-11•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a fee of VND 1,000,000 to complete the issuance of a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-09-11•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission announced the Financial Stability Coordination Council's plan to develop an enhanced monitoring framework for non-bank financial institutions (NBFIs) and launch a curated database for interagency oversight. These initiatives aim to improve regulatory coordination, align with global best practices, and strengthen systemic risk safeguards. The framework and database were launched during the FSCC’s 42nd meeting at Bangko Sentral ng Pilipinas.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskPrudential risks
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2025-09-11•Germany•German Bundesbank
The German Bundesbank's July 2025 securities statistics show a net increase of EUR 65.7bn in domestic and foreign debt securities in Germany, driven by domestic bond issuance and net redemptions of foreign debt securities. Domestic non-banks and foreign investors were the main net buyers, while domestic banks were net sellers. In equities, domestic firms issued EUR 4.4bn in new shares, with domestic banks and non-banks as net buyers, while foreign investors were net sellers.
Data & statisticsFinancial and market indicators
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2025-09-11•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SSE 6/2025, clarifying that appointing a fiduciary agent is mandatory for public securitization offerings involving segregated estates. The letter reiterates previous guidance allowing privately held securitization companies to issue securities via crowdfunding platforms, provided they adhere to the fiduciary regime. Offerings without a segregated estate are subject to per-issuance limits and issuer revenue restrictions.
Policy & regulationGuidance & interpretationSecuritization
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2025-09-11•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) hosted the International Organization of Securities Commissions (IOSCO) Emerging Risks Committee meeting in Rio de Janeiro, focusing on emerging risks in capital markets. Key discussions included central bank digital currency and tokenisation, with CVM highlighting its role in emerging-markets analysis and CER coordination in South America.
Policy & regulationCooperationCross-border cooperation
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2025-09-11•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the removal of Ilya Borisovich Brodskiy from the UK Russia financial sanctions regime, lifting his asset freeze and trust services sanctions. This update aligns with UK regulations implemented in Guernsey under the Sanctions (Bailiwick of Guernsey) Law, 2018.
Policy & regulationImplementation, projects & pilotsSanctions list update
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2025-09-11•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has launched its Digital Finance Initiative to align financial services legislation with digital finance innovations. The initiative includes a Digital Forum for industry dialogue, policy consultations, and enhancing guidance on financial crime. It also aims to develop a regulatory concierge service and reduce Virtual Asset Service Provider licence fees.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegulatory sandbox
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2025-09-11•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has designated TOPPAN Edge Inc. as Japan's first Qualified vLEI Issuer, authorizing it to issue and manage verifiable Legal Entity Identifier credentials. TOPPAN Edge plans to pilot its vLEI service in September 2025, focusing on supply chain management in the semiconductor and ICT sectors.
SupervisionAuthorisations & approvalsOther
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2025-09-11•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority has terminated the accreditation of Mr. Marios Zantis as the representative of SUXXESS FX LTD under Section 4(1)(m) of the Financial Services Authority Act, 2013. This decision affects his Securities Dealer Representative Licence SDR286, effective 12 September 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-09-11•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic, with the Antimonopoly Regulation Service and the State Tax Service, reported that 499 out of 568 inspected enterprises had national-standard QR codes for cashless payments. Where QR codes were absent, authorities conducted explanatory measures to ensure compliance with Kyrgyz legislation and consumer rights protection. Outreach efforts will continue through 2025.
SupervisionReviews, inspections & stress testsPayments and payment systems
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2025-09-11•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic suspended the licence of exchange bureau LLC "Meta KESH" in Bishkek for violations of national legislation and regulatory requirements. The suspension is effective from 10 to 14 September 2025.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-09-11•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has granted permission to establish Open Joint Stock Company Kylim Bank, following a decision by its Board on 10 September 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-11•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission announced initiatives by the Financial Stability Coordination Council to enhance systemic-risk surveillance of non-bank financial institutions (NBFIs). These include developing a monitoring framework and launching a shared database for member-regulators to share systemic-risk data. The initiatives aim to improve regulatory coordination and complement Bangko Sentral ng Pilipinas oversight of banks.
Policy & regulationCooperationFinancial stability and systemic riskPrudential risks
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2025-09-11•Global•World Federation of Exchanges
The World Federation of Exchanges has released a paper examining the implications of extending equity market hours, suggesting near round-the-clock trading as a distinct model. The paper concludes that while extended hours are technologically feasible and may meet investor demand, they require careful calibration to ensure market integrity, investor protection, and systemic stability.
ResearchTrading
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2025-09-11•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency warned about XueX EG Investment Group's fraudulent activities, including new names and communication channels. Hanfa stressed XueX is not registered or supervised by them and urged citizens to report suspected fraud to the police. The agency highlighted fraud indicators like promises of unrealistic profits, pressure to act quickly, and demands for additional payments.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-09-11•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and the Bank of England shared insights from a Future Banking Data roundtable with UK banks and building societies, focusing on regulatory reporting reforms. Participants emphasized the need for harmonized data definitions and clearer guidance to reduce operational burdens, while discussing the benefits and challenges of more granular data collections. The roundtable is part of a broader series of industry meetings on Future Banking Data.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-09-11•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses published an interview with Fiona Van Echelpoel, Deputy Director General at the European Central Bank, discussing the future of clearing and professional development. Van Echelpoel anticipates technology will influence but not transform clearing in the next decade, focusing on distributed ledger technology, tokenisation, and artificial intelligence. She also highlights the ECB's collaborative efforts to advance a digital Capital Markets Union and offers career advice for early professionals.
OtherLeadership change and appointments
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2025-09-11•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission inspected Bitkub Online Co., Ltd. following reports of a cyberattack on a digital asset exchange. The inspection confirmed that as of 8 September 2025, customers' digital assets were secure, and document verification is ongoing. The SEC advises the public to monitor official updates and report any irregularities in digital assets.
SupervisionReviews, inspections & stress testsCyber resilience
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2025-09-11•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democratic members of the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Elizabeth Warren, request a public hearing on Jeffrey Epstein's use of the U.S. financial system and potential bank complicity, citing JPMorgan's dealings with Epstein. They urge testimony from financial institution employees, including JPMorgan CEO Jamie Dimon, to inform legislative efforts to enhance safeguards against illicit activities. The request highlights concerns over system vulnerabilities amid regulatory rollbacks by the Trump Administration.
Policy & regulationReform agendas & prioritiesAML and CFTCorporate governance
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2025-09-11•Europe•European Banking Federation
The European Banking Federation's report, "Increasing bankability of transition & the Clean Industrial Deal," identifies the main barrier to industrial decarbonisation financing as a lack of viable transition projects, not insufficient capital. The public sector can cover only 20-25% of investment needs, with private institutions potentially contributing up to 55%, leaving a gap due to weak demand, uncertain profitability, and regulatory complexities. Proposed solutions include public guarantees, policy incentives, streamlined processes, and standardised blended finance.
ResearchClimate risk and sustainable finance
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2025-09-11•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has qualified TOPPAN Edge Inc. as Japan’s first Qualified verifiable Legal Entity Identifier Issuer, authorizing it to issue and manage vLEI credentials for digitally trusted use cases in supply chain management, international trade, and financial transactions. The vLEI service will be piloted in September 2025 by the BRP Consortium Business Site Digital Certification R&D Working Group to enhance supply chain management in the semiconductor and ICT sectors.
SupervisionAuthorisations & approvalsOther
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2025-09-11•Tanzania•Bank of Tanzania
The Bank of Tanzania has opened applications for the second cohort of its Fintech Regulatory Sandbox, targeting financial products or services not covered by existing regulations. Applications can be submitted via the online Sandbox Application Portal as per the 2024 regulations. The Bank may publish applicant information for knowledge sharing with international regulators, excluding proprietary details.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-09-11•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has qualified TOPPAN Edge Inc. as Japan’s first Qualified verifiable Legal Entity Identifier Issuer, allowing it to issue and manage vLEI credentials for supply chain, trade, and financial transactions, with a pilot planned for September 2025.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-09-11•Hungary•National Bank of Hungary
The National Bank of Hungary (MNB) launched its Certified Corporate Loan scheme to facilitate investment financing for small and medium-sized enterprises, enhancing domestic corporate lending and credit market quality. The first loan was signed between Erste Bank and Ostorosbor Ltd for capacity expansion and sustainability investments. Applications are available at OTP Bank, Erste Bank, and MBH Bank, with potential for more banks to participate.
Policy & regulationImplementation, projects & pilotsLendingMarket development
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2025-09-11•Global•Financial Markets Standards Board
The Financial Markets Standards Board appointed Daniel Mayston as Technical Director to enhance the development of Standards and Statements of Good Practice for global wholesale markets, leveraging his extensive experience, including 18 years at BlackRock and prior roles within FMSB.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-11•Canada•Quebec Autorite des marches financiers
Quebec's Autorité des marchés financiers and the Office of the Superintendent of Financial Institutions released the final report of their Standardized Climate Scenario Exercise, involving over 250 Canadian financial institutions. The report finds climate-related financial risks are not immediate threats but could become severe long-term, urging institutions to enhance data and modelling capabilities. The findings will inform supervisory expectations and risk management guidance, focusing on data-driven approaches to assess climate risks.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-09-11•Europe•European Commission
The European Commission issued guidelines to enhance the resilience of critical infrastructure in the EU, supporting the Critical Entities Resilience Directive. Covering 11 sectors, including energy and banking, the guidelines emphasize structured risk assessments and resilience measures. The Commission urges EU countries to swiftly implement the Directive to safeguard essential services against external threats.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-09-11•Canada•Office of the Superintendent of Financial Institutions
Canada's Office of the Superintendent of Financial Institutions (OSFI) released policy updates, including final revisions to the Capital Adequacy Requirements Guideline and Guideline E-23 Model Risk Management. Key changes involve mortgage underwriting clarifications, model risk management applicability, and a revised approach to Administrative Monetary Penalties. OSFI postponed its Corporate Governance Guideline, focusing on board and senior management accountability.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-09-11•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI) updated prudential guidelines, including Capital Adequacy Requirements and Model Risk Management, and revised its approach to Administrative Monetary Penalties. The updates align standards with U.S. practices and expand model risk management to include AI risks. Additionally, a joint OSFI-AMF report on climate risks was published to enhance climate risk measurement capabilities.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-09-11•Chile•Central Bank of Chile
The Central Bank of Chile announced that President Rosanna Costa will participate in Chile Day in London on 15-16 September, delivering a plenary presentation on Chile’s economic outlook and monetary policy. Costa will also meet with public and private sector representatives, including a bilateral meeting with Bank of England Governor Andrew Bailey to discuss global macroeconomic and financial projections amid geopolitical tensions.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developmentsDomestic cooperation
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2025-09-11•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority acknowledged Dr. Islam Azzam's appointment as Chairman of the Egyptian Exchange and expressed gratitude for his contributions as vice-chair. The board emphasized plans for enhanced coordination to bolster capital market development, focusing on market depth, stability, investor protection, and increased liquidity. Azzam's appointment was sanctioned by Prime Minister Mostafa Madbouly for a one-year term.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-11•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has extended the deadline for insurance companies to submit financial statements for the period ending 30 June 2025 to 31 October 2025. Companies with investments in insurance firms receive an additional 15 days. This extension aims to facilitate compliance with the Unified Insurance Law No. 155 of 2024.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-11•Mauritius•Bank of Mauritius
The Bank of Mauritius has granted NanoSAIO Ltd a Payment Service Provider licence under the National Payment Systems Act 2018. This licence authorizes the issuance of payment instruments and payment initiation services.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-11•Romania•National Bank of Romania
The National Bank of Romania, with the Ministry of Education and Research and other financial bodies, conducted the second edition of "Financial education workshops for teachers" from June to September 2025. Part of the National Financial Education Strategy 2024–2030, it delivered 28 workshops in 20 cities, engaging over 800 teachers in topics like personal finance, modern payment instruments, and Romania's economic developments. The programme aims to enhance teachers' financial education knowledge to better educate students.
Financial literacy & educationFinancial literacy and education
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2025-09-11•Malta•Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) reviewed payment accounts, noting compliance with Commission Implementing Regulation (EU) 2018/34 but identifying improvement areas. One institution was directed to correct its Statement of Fees presentation, with issues of outdated fee information and misleading terminology on websites. The MFSA emphasized accurate, timely fee disclosures and clear differentiation from traditional banking products, committing to ongoing supervision.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-09-11•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde is establishing an Emergency Assistance Programme to provide up to CVE 10 billion in funding at reduced interest rates to entities affected by Storm Erin. The programme targets households, companies, and other entities, with funding available through banks and microfinance institutions participating in the Intervention Operations Market. A regulation detailing participation conditions will be published soon.
Policy & regulationImplementation, projects & pilotsLending
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2025-09-11•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission, with the People’s Bank of China and the China Securities Regulatory Commission, announced the Financial Education Publicity Week starting 15 September. The campaign aims to enhance service delivery, standardize marketing, and combat illegal intermediaries, with activities including policy explanations and risk alerts. Authorities will distribute financial knowledge and anti-fraud guidance through various channels to protect financial rights and prevent telecom fraud.
Financial literacy & educationFinancial literacy and education
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2025-09-11•Argentina•Argentina Securities Commission (CNV)
At the CLAB 2025 Latin American Congress of Technology and Innovation, Argentina Securities Commission Vice President Sonia Salvatierra outlined efforts to modernize capital markets rules to enhance market efficiency and competitiveness. Key measures include frameworks for virtual asset service providers and tokenization, process simplification like Automatic Public Offering, and a focus on financial education.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptech
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2025-09-11•Anguilla•Anguilla Financial Services Commission
The Anguilla Financial Services Commission is consulting on draft amendments to its anti-money laundering and counter-terrorist financing framework. The changes aim to align with Financial Action Task Force (FATF) standards, focusing on risk assessment, non-profit organisations, customer due diligence, and supervisory powers. This initiative is part of a broader reform to ensure compliance with FATF requirements.
Policy & regulationRules & requirementsAML and CFT
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2025-09-11•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported July 2025 statistics for credit cards, cash cards, and electronic payment institutions, noting 59.95 million effective credit cards and 33.62 million electronic payment account users. Credit card retail sales and installment balances increased month-on-month, while delinquency rates decreased. Electronic payment accounts recorded TWD 20.73 billion in transactions and TWD 17.3 billion in end-month balances.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-11•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that domestic banks' loans to small and medium-sized enterprises (SMEs) totaled NT$10,683.5 billion by end-July 2025, an increase of NT$114.5 billion from end-June. SME loans accounted for 63.95% of total enterprise lending and 67.57% of lending to private enterprises, with slight decreases from the previous month. The average non-performing loan ratio for SME loans rose to 0.22% in July 2025.
Data & statisticsFinancial and market indicators
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2025-09-11•Moldova•National Bank of Moldova
The National Bank of Moldova's Vice Governor Mihnea Constantinescu discussed new financial technologies' potential to reshape emerging-market financial systems in an IPN interview before the "New Technology for Old Markets" conference. The event will explore Distributed Ledger Technology, blockchain, smart contracts, and Central Bank Digital Currency architectures, focusing on market infrastructure transformation. Constantinescu emphasized central banks' need to balance innovation and stability, citing examples like the Swiss National Bank’s Project Helvetia and Project Venus.
OtherFintech and insurtechMarket development
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2025-09-11•Dominican Republic•Central Bank of the Dominican Republic
The Monetary Board of the Dominican Republic amended the Foreign Exchange Regulation, expanding participation in the Central Bank's electronic trading platform and tightening reporting and conduct requirements. Transactions above USD 10,000 and EUR 10,000 must be reported, with new guidelines ensuring fair pricing and alignment with international best practices. Capital and equity reserve requirements for currency exchange intermediaries have been increased to mitigate foreign exchange credit risk.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-09-11•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Financial Services Regulatory Authority of Abu Dhabi Global Market and Hong Kong’s Securities and Futures Commission co-hosted a roundtable in Hong Kong to explore opportunities for Hong Kong asset managers in ADGM. Discussions included access to investors in the UAE and the UAE fund passporting regime. This engagement follows a memorandum of understanding signed in May to enhance regulatory and market connectivity.
Policy & regulationCooperationCross-border cooperation
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2025-09-10•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission has registered COVERSA EOOD as an insurance broker.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-10•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance launched the National Financial Inclusion Strategy (ENIF) in Valparaíso, focusing on extending financial wellbeing to excluded groups, particularly women microentrepreneurs and young people. Developed by the Advisory Commission for Financial Inclusion, it emphasizes gender perspective, consumer protection, and improving access for marginalized groups. Cooperation agreements were announced with the University of Valparaíso and the Pontifical Catholic University of Valparaíso to support ENIF's dissemination.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-09-10•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo (BQK) hosted an International Monetary Fund (IMF) mission to enhance its macroeconomic modelling and forecasting capabilities. This multi-year project aims to build sustainable analytical infrastructure for improved policy analysis and financial stability. BQK and the IMF reaffirmed their commitment to ongoing cooperation in this initiative.
Institutional developmentCooperation & capacity buildingMacroprudential policy and tools
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2025-09-10•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority hosted a session at the Belt and Road Summit on using captive insurers for managing complex risks in Belt and Road projects, highlighting Hong Kong's potential as a captive domicile. The session, moderated by IA’s Executive Director Clement Lau, included insights from executives of Hong Kong-domiciled captives and professional service providers on market development and facilitative measures.
Policy & regulationImplementation, projects & pilotsRisk management
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2025-09-10•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has revised its 'My overall risk assessment' tool and handbook for insurance intermediaries under Belgium's AML/CFT Law. Updates aim to enhance clarity and usability in line with recent changes to the law. The FSMA_2025_13 Handbook is available in French and Dutch.
Policy & regulationGuidance & interpretationAML and CFT
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2025-09-10•Global•Egmont Group
The Egmont Group's Chair, Elżbieta Franków-Jaśkiewicz, emphasized the evolving role of Financial Intelligence Units in combating financial crime at the 42nd Cambridge International Symposium on Economic Crime, highlighting priorities such as cyber-enabled fraud and crypto asset laundering, and advocating for enhanced public-private partnerships and international cooperation.
Policy & regulationReform agendas & prioritiesAML and CFTCyber resilience
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2025-09-10•Global•Egmont Group
The Egmont Group stressed improving international cooperation against cyber offences, highlighting financial intelligence units' role in tracing illicit financial flows and supporting prosecutions, focusing on early intelligence sharing and joint investigations. The update introduced a new joint handbook for international cooperation and noted the Egmont Cyber-enabled Fraud Rapid Response Program's 70% success rate in asset recovery within 24 hours.
Policy & regulationCooperationCyber resilienceCross-border cooperation
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2025-09-10•Global•Egmont Group
The Egmont Group engaged Kazakhstan to enhance global financial crime combat efforts, meeting with key officials including Prime Minister Oljas Bektenov and Central Bank Governor Timur Muratuly Suleimenov. Discussions emphasized sustainable funding for financial intelligence units and developing the Egmont Centre of FIU Excellence and Leadership, while highlighting the importance of public-private partnerships in strengthening monitoring and reporting systems.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-09-10•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has extended its legislative instrument exempting Australian financial services licensees from appointing a basic deposit or general insurance product distributor as their authorised representative until 27 August 2030. This measure aims to reduce regulatory burdens and compliance costs while maintaining consumer protection obligations under the Corporations Act 2001. ASIC will monitor the instrument's appropriateness through supervisory experience and stakeholder feedback.
Policy & regulationRules & requirementsRegulatory burden
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2025-09-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released August 2025 statistics for the Central Information Repository.
Data & statisticsRegulatory reporting
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2025-09-10•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released comprehensive interest rate data for deposits and loans by credit institution for July 2025.
Data & statisticsMonetary data
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2025-09-10•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority and Hong Kong's Securities and Futures Commission have signed a memorandum of understanding to enhance cooperation in overseeing collective investment scheme managers in each other's markets. The MoU establishes a framework for consultation, cooperation, and information sharing to support cross-border regulatory alignment. It was signed at the 10th Belt and Road Summit in Hong Kong by DFSA Chief Executive Mark Steward and SFC CEO Julia Leung.
SupervisionCooperationCross-border cooperation
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2025-09-10•Denmark•National Bank of Denmark
The National Bank of Denmark's working paper, utilizing Danish administrative microdata, reveals that firm size increases with age only for the first 10–15 years before declining, with significant differences in exit rates by firm size and strong cohort effects for firms entering in the late 1950s. The study highlights sample composition as a key factor in cross-sectional patterns and notes that exit rates do not consistently decrease with age.
ResearchOther
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2025-09-10•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released its KiwiSaver Annual Report 2025, detailing providers' statutory data for the year ending March and summarizing its regulatory activities over the past financial year.
Data & statisticsActivity and performance reporting
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2025-09-10•Tanzania•Ministry of Finance (Tanzania)
Tanzania’s Ministry of Finance reported successful implementation of the Financial Sector Development Plan, noting increased financial inclusion and sector stability. Key priorities include advancing digital payment systems, enhancing user protection against cyber theft, and fostering financial education. The sector saw a 13.8% growth in 2024, with financial inclusion reaching 76% and non-performing loans dropping to 3.3%.
Policy & regulationImplementation, projects & pilotsFinancial inclusionMarket development
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2025-09-10•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority (CMA) announced reforms to enhance market efficiency and investor confidence, including amendments to the Central Securities Depository law and regulations for collective investment schemes. A draft law for virtual assets and a legal review to align with International Organization of Securities Commissions standards are underway. The CMA also launched investor education campaigns, digitised regulatory processes, and is developing new investment options like real estate investment trusts and sustainability-linked bonds.
Policy & regulationRules & requirementsMarket development
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2025-09-10•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission has issued an Invitation for Bids to appoint a consultant to review its licensing, human resources, and procurement framework. The call is open to Mauritian nationals and entities incorporated in Mauritius, with proposals to be submitted via the Government e-Procurement System.
Institutional developmentProcurement
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2025-09-10•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market (NSSMC) announced the restoration of the obligation to disclose regulated information from 28 August 2025, following amendments to Law No. 2115-IX. The NSSMC approved a draft decision setting deadlines for completing outstanding disclosures, with catch-up deadlines of 30 September 2025 for 2021–2023 and 31 October 2025 for 2024 and the first two quarters of 2025. Non-compliance may result in administrative liability under Article 163-11 of the Code of Administrative Offenses.
Policy & regulationRules & requirementsDisclosures
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2025-09-10•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica highlighted its ranking as the second best-rated public institution in a University of Costa Rica survey, scoring above 7 out of 10. The bank noted a decline in public concern over the cost of living, unemployment, and poverty, attributing these changes to its policy actions. It reaffirmed its commitment to fulfilling its objectives under its Organic Law.
OtherActivity and performance reporting
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2025-09-10•Indonesia•Bank Indonesia
Bank Indonesia's August 2025 Consumer Survey indicates sustained consumer confidence with a Consumer Confidence Index of 117.2. The Consumer Expectation Index remained stable at 129.2, while the Current Economic Condition Index slightly decreased to 105.1.
Data & statisticsEconomic data and developments
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2025-09-10•Germany•Ministry of Finance (Germany)
Germany's Federal Cabinet approved the draft Standortfördergesetz to boost private investment and enhance the financial centre by easing infrastructure, renewable energy, and venture capital investment conditions. Key measures include tax changes for venture capital, reducing the minimum nominal share value to EUR 0.01, and removing certain administrative burdens. The draft also transposes EU capital-markets acts, including the EU Listing Act, and introduces a European corporate portal.
Policy & regulationRules & requirementsMarket development
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2025-09-10•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission shared Dr. Kelvin Wong's remarks on "Shaping Capital Markets’ Sustainable Future with Quality Disclosure" from the Forum on Sustainability Disclosures. All speeches and synopses are accessible in the "Published resources > Speeches" section of its website.
Policy & regulationGuidance & interpretationClimate risk and sustainable financeDisclosures
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2025-09-10•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission and the Dubai Financial Services Authority signed a Memorandum of Understanding to enhance cooperation on overseeing collective investment scheme managers across both markets. The MoU establishes a framework for consultation, cooperation, and information exchange to support cross-border regulatory alignment. This agreement was announced at the 10th Belt and Road Summit in Hong Kong.
SupervisionCooperationCross-border cooperation
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2025-09-10•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, internet banking login screens, mobile apps, and phishing emails linked to Bank of China Hong Kong Limited. The HKMA emphasized that banks do not send SMS or emails 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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2025-09-10•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT concluded its 51st Plenary in San Salvador, approving a regional guide on asset recovery and a sectoral risk assessment on virtual assets for money laundering. The Plenary adopted Bolivia’s second follow-up report with technical compliance re-ratings and discussed updates to Financial Action Task Force standards. Additionally, GAFILAT introduced an EU-funded manual to enhance national statistics for the fifth round of evaluations and updated on the "GAFILAT Statistics Observatory" project.
Policy & regulationInternational standards & recommendationsAML and CFTSupervision process and methodologies
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2025-09-10•Global•CDP
CDP has expanded cooperation with the Hong Kong Monetary Authority through an addendum to their 2022 memorandum, enhancing environmental disclosure efforts. This supports the HKMA Sustainable Finance Action Agenda and aims to improve the flow of comparable environmental data into Hong Kong’s financial system. The expanded scope focuses on facilitating disclosure by non-listed companies, small and medium-sized enterprises, and banks.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-09-10•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to financial sanctions regimes concerning Iran, ISIL (Da’esh) and Al‑Qaida, chemical weapons, and Russia. Firms should consult the Isle of Man Government news releases and the Treasury division’s Sanctions and Export Control webpage for details. Subscription options for updates include an RSS feed and email alerts from the UK Treasury’s Office of Financial Sanctions Implementation.
Policy & regulationGuidance & interpretationSanctions list update
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2025-09-10•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 several senior appointments in the securities market, including executive body leadership and chief accountant roles. Key appointments include Temirlan Omarzhanov as head of the executive body and Natalya Bocharova as deputy chair of the management board. The approvals were documented between 12 August and 9 September 2025.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-09-10•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency, with the National Bank’s Anti-Fraud Centre, announced a nationwide student training programme on countering financial fraud. Starting in Astana, it will cover scam typologies and financial safety, with free seminars at universities through 2025. Criminal liability for participating in dropper schemes will be introduced from 16 September 2025.
Financial literacy & educationFraud and scams
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2025-09-10•Andorra•Andorran Financial Authority
The Andorran Financial Authority's 2024 Activity Report details its supervisory actions, resources, and strategic priorities for 2025. Priorities include enhancing firms' resilience to macrofinancial shocks, promoting transparency, reducing structural vulnerabilities, and aligning with international standards. The report highlights intensified supervisory activity in 2024, focusing on onsite inspections and cooperation with domestic and international partners.
Institutional developmentOther
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2025-09-10•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) has launched enrolment for its 2025 Financial Education Diploma, a free online program offering academic credit. The 150-hour course covers personal finance management, fraud prevention, credit use, and investing. This is the final cohort for 2025, open to individuals aged 17 and above.
Financial literacy & educationFinancial literacy and education
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2025-09-10•Middle East•Arab Monetary Fund
The Arab Monetary Fund's 59th "Monthly Bulletin of Arab Capital Markets" for July 2025 highlights a positive month for Arab financial markets, driven by corporate profit growth and easing global trade tensions, with notable gains in the Dubai Financial Market, Casablanca, and Muscat. The MSCI Arab Markets Index rose 2.36%, supported by banking, real estate, and energy sectors, while Arab central banks kept interest rates in line with US policy.
Data & statisticsFinancial and market indicatorsMarket development