The Albania Financial Services Authority released Periodical No 195 (August 2025), detailing its regulatory, supervisory, and institutional activities. The publication aims to assist consumers and investors in understanding the markets under its supervision.
The Guernsey Financial Services Commission is consulting on proposed fee changes for regulated entities in 2026, including a 3.9% increase aligned with inflation. The proposals involve rebasing Private Investment Fund fees, adjusting fiduciary licence fees, and introducing banded fees for Prescribed Businesses. Additionally, new fees are suggested for certain approval-driven requests, while fees for Virtual Asset Service Provider applications may be reduced.
The Central Bank of Paraguay was named one of four finalists for the Alliance for Financial Inclusion's Nestor Espenilla Jr. Award for Innovation in Financial Inclusion. AFI highlighted Paraguay's 2025 payments law, PY-QR national standard, interoperable QR hub and rules for Payment Initiation Service Providers as measures expanding digital financial access.
The Institute of International Bankers urged the US Securities and Exchange Commission to exempt internationally headquartered financial institutions from amendments to the foreign private issuer definition, citing existing extensive regulations and potential negative impacts on investment diversity and compliance costs.
Five JRL Kwarta Trading Co. employees were convicted by a Pangasinan court for unauthorized investment solicitation. They violated Sections 8, 26, and 28 of the Securities Regulation Code, receiving fines of PHP 150,000 each, with subsidiary imprisonment for insolvency. The SEC's investigation exposed the company's unlicensed crypto investment program, resulting in an entrapment operation and arrests.
Canada’s Minister of Finance and National Revenue, François-Philippe Champagne, announced leadership changes at the Canada Deposit Insurance Corporation, appointing Gina Byrne as acting President and CEO and Martin Glynn as Chairperson of the Board. Byrne's role begins on 1 October 2025, while Glynn's term as Chair is for five years. The Minister also expressed gratitude to outgoing leaders Leah Anderson and Robert Sanderson.
The Wolfsberg Group issued guidance on a financial crime risk framework for banks servicing fiat-backed stablecoin issuers, emphasizing oversight and monitoring. The guidance, reflecting consensus among twelve member banks, aligns with existing financial crime risk management principles and addresses unique risks in regulated jurisdictions.
The Insurance Regulatory Authority of Uganda allows insurers a conditional six-month waiver from the COP/CIU certification for newly recruited Bank Sales Officers (BSOs) in bank sales. This aims to mitigate high attrition rates while ensuring conduct and consumer protection. Insurers must implement approved training, supervise uncertified BSOs closely, and submit monthly progress reports. Non-compliance may lead to waiver revocation and penalties.
The U.S. Senate Committee on Banking, Housing and Urban Affairs released letters from Senators Elizabeth Warren and Bernie Sanders to CEOs of six major Wall Street banks. They question large share buybacks and higher dividends following reduced capital requirements under the Trump Administration. The letters argue these actions could weaken bank capital positions and increase risks to U.S. financial stability, challenging claims that lower capital buffers would enhance lending or customer pricing.
Saudi Arabia's Insurance Authority plans to launch digital initiatives and sign multiple local and international partnership agreements at Money20/20 in Riyadh from Sept. 15-17, 2025. Its participation will focus on insurance-sector digital transformation, investment opportunities and the use of artificial intelligence and other emerging technologies.
The Central Bank of Russia has updated stress testing scenarios for non-governmental pension funds, effective 30 September 2025, and will publish these scenarios in advance. The updates aim to enhance NPF resilience under adverse economic conditions and improve risk assessment predictability. Collaboration with the National Association of Non-State Pension Funds will continue to reduce model risk in stress testing.
The Department of Finance Canada announced senior appointments at the Canada Deposit Insurance Corporation (CDIC), with Gina Byrne named acting President and CEO and Martin Glynn appointed as Chairperson of the Board. CDIC provides deposit insurance up to CAD 100,000 per account category and serves as the resolution authority for member institutions.
The National Bank of Hungary reported Governor Mihály Varga's participation in a Bank for International Settlements meeting, emphasizing stability-oriented monetary policy and central bank cooperation for global financial stability. Varga and the People’s Bank of China Governor extended the bilateral currency swap agreement. Varga noted Hungary's stable economy, projecting 0.8% GDP growth, with inflation expected to remain above the central bank's tolerance band despite tight monetary policy.
The New Brunswick Financial and Consumer Services Commission issued an investor alert warning that OneFXClub is not registered to deal or advise in securities in New Brunswick. Investors are urged to avoid unregistered firms due to lack of investor protections. OneFXClub operates from Tasmania, Australia, using the website onefxclub.info and other similar names.
The New Brunswick Financial and Consumer Services Commission issued an investor alert warning that OneFXPro is not registered to deal or advise in securities in New Brunswick. Investors are urged to avoid unregistered firms due to a lack of investor protections. The alert specifies OneFXPro as registered in St. Vincent and the Grenadines with an office in Dubai, and clarifies it does not apply to other similarly named businesses.
The New Brunswick Financial and Consumer Services Commission issued a warning against OneFXPro and OneFXClub, which are not registered to deal or advise in securities in New Brunswick. The alert highlights that these entities, linked to St. Vincent & the Grenadines, Dubai, and Tasmania, offer no investor protections. The warning does not apply to unrelated businesses with similar names.
The State Bank of Pakistan reported August 2025 workers’ remittances at USD 3.1 billion, a 6.6% year-on-year increase. Cumulative remittances for the first two months of FY26 reached USD 6.4 billion, up 7.0% from the previous year. Key source countries included Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States.
The Finnish Financial Supervisory Authority (FIN-FSA) issued an alert regarding scam messages falsely appearing to be from the authority or its staff. Recipients are advised to exercise caution, avoid interacting with suspicious emails, and report scams through alternative channels.
Payments Canada has appointed Matt Byrd as Vice President, Finance and Procurement, overseeing financial planning, analysis, accounting, and procurement. Byrd will focus on financial modelling, funding, and pricing, collaborating with members and stakeholders for transparent financial information. He previously served as Deputy Chief Financial Officer at Interac.
The Federal Deposit Insurance Corporation has revised Chapter 4 of its Formal and Informal Enforcement Actions Manual, updating standards for terminating cease-and-desist and consent orders under Section 8(b) of the Federal Deposit Insurance Act. Termination is allowed when an institution achieves substantial compliance, the order is no longer applicable, or a new formal action is issued. This guidance, issued via FIL-42-2025, applies to all FDIC-supervised institutions.
The Canadian Investment Regulatory Organization (CIRO) released its 2025 annual report, detailing progress on its strategic plan and annual priorities, including a 65% completion rate for integration and market regulation initiatives. The report highlights CIRO's expanded enforcement powers in Ontario and forthcoming powers in Québec, with additional jurisdictions delegating registration powers. The Investor Advisory Panel outlines its advisory role in CIRO's regulatory policy development and strategic planning.
The Hellenic Capital Market Commission and the Banque de France have signed a cooperation agreement to enhance financial literacy in Greece. The agreement allows the HCMC to adapt and distribute educational materials from the Banque de France’s ABC de l’économie portal, tailored to the Greek context. The original and adapted materials will be available on their respective websites.
The British Columbia Securities Commission announced that Hani El Rayess, former director and CEO of RoccaVerde Wellness Corporation, paid CAD 30,000 for misconduct related to illegal securities distribution. RoccaVerde raised CAD 133,500 without a prospectus or exemption, resulting in total investor losses. El Rayess admitted to insufficient compliance efforts and cooperated with the investigation.
The Norwegian Financial Supervisory Authority reported that Norwegian banks experienced slightly lower profits and return on equity in the first half of 2025 compared to the previous year. The decline was primarily due to reduced net interest income relative to total assets and increased operating costs. Loan losses remained low, and non-performing loan volumes were stable.
The British Columbia Financial Services Authority (BCFSA) released findings from its 2025 Sector Insights Survey, highlighting improved stakeholder understanding of its mandate, increased confidence in the regulator, and better engagement perceptions. The survey, with 2,226 responses, showed significant improvements since 2023, including 84% understanding BCFSA’s mandate and 53% expressing confidence. New questions revealed 11% faced barriers accessing BCFSA services, informing its Equity, Diversity, and Inclusion Strategy and Service Centre initiatives.
The British Columbia Financial Services Authority (BCFSA) released its 2025 Sector Insights Survey, showing increased awareness of its mandate and improved confidence and engagement among B.C.’s financial services professionals. Key findings include a rise in mandate clarity to 84%, confidence to 53%, and engagement to 77%. The survey also highlighted areas for improvement in stakeholder collaboration and innovation, and assessed continuing education outcomes and accessibility.
The Bank of Canada has begun supervising payment service providers (PSPs) under the Retail Payment Activities Act, integrating them into its retail payments oversight framework. This initially covers about 1,500 PSPs, emphasizing compliance to manage risks and protect end-user funds. The Bank will publish a Registry of PSPs, updated as screenings are completed and names are provided by the Department of Finance.
The Office of the Comptroller of the Currency (OCC) announced measures to eliminate politicized or unlawful debanking, in line with Executive Order 14331. The OCC issued bulletins clarifying debanking practices in licensing reviews and Community Reinvestment Act assessments, and restating expectations for customer financial record protection and suspicious activity report usage. Additionally, the OCC is reviewing its Bank Secrecy Act/anti-money laundering supervision to prevent unlawful debanking and plans to propose a rule removing reputation risk references from regulations.
The Central Bank of Egypt and the Ministry of Higher Education signed protocols to support high-performing students with scholarships, especially those affected by the USAID suspension. Scholarships target "Takaful and Karama" beneficiaries, tuition-exempt students, and focus on critical scientific fields. A donation account and online portal are available for applications.
The China Banking and Insurance Regulatory Commission and China's National Archives Administration have issued measures for managing regulatory archives across all levels. These measures mandate centralized management, enhanced infrastructure, and digitization of archives, alongside improved governance and oversight. The framework aims to strengthen the collection and use of key supervisory materials and advance electronic archives management.
Argentina Securities Commission (CNV) President Roberto E. Silva outlined the CNV's regulatory framework to enhance capital market financing, focusing on the real economy sectors like agro-industry, real estate, and SMEs. Silva highlighted the Automatic Public Offering regime as a key reform to streamline access processes. CNV Vice President Sonia Salvatierra and board director Laura Herbón were also present at the event.
The Argentina Securities Commission (CNV) held its sixth draw to select issuers for Corporate Governance Code (CGS) reporting monitoring for 2024-2026. Organized by the Corporate Governance Sub-Directorate, the session introduced updated CGS reporting recommendations based on OECD principles and CNV's supervisory experience. The CNV aims for 100% monitoring of equity issuers within two years, with non-selected issuers automatically included in the 2026 cycle.
FinCEN has reissued a modified Geographic Targeting Order (GTO) targeting illicit activities along the US southwest border, requiring certain money services businesses (MSBs) to file Currency Transaction Reports (CTRs) for cash transactions between USD 1,000 and USD 10,000 in specified areas. The new GTO, effective from September 10, 2025, to March 6, 2026, replaces a previous order with a USD 200 threshold and extends the CTR filing deadline from 15 to 30 days. Newly included MSBs have until October 10, 2025, to comply.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice to help financial institutions detect and disrupt financially motivated sextortion and improve Suspicious Activity Report (SAR) reporting. The Notice highlights a dramatic increase in sextortion incidents, particularly affecting minors, and the use of generative AI for creating illicit content. It emphasizes the role of convertible virtual currency and other payment mechanisms in these schemes, targeting various financial institutions.
The Qatar Financial Centre's Digital Assets Lab is testing a blockchain-based Digital Receipt System for Shariah-compliant asset-backed finance. The project involves AlRayan Bank, Blade Labs, and Hashgraph, using HashSphere on Hedera technology and Google Cloud. QFC leads the initiative, with Hashgraph providing blockchain infrastructure, Blade Labs developing the system, and AlRayan Bank validating functionality.
The Nepal Insurance Regulatory Authority mandated that all licensed insurers and reinsurance companies pay employee and agent remuneration exclusively through banks or financial institutions. This directive applies to salaries, allowances, commissions, and incentives. Legal action will be pursued for non-compliance.
The Nepal Insurance Regulatory Authority has mandated all licensed life and micro-life insurers to enhance disclosures for loans secured by insurance policies. Insurers must inform policyholders of outstanding amounts, interest calculations, and repayment expectations at least 30 days before interest payments are due. This directive addresses complaints about insufficient information provided during the loan period.
The Dominican Republic's Pensions Superintendency (SIPEN) participated in the "Days To Shine 2025" event in Santo Domingo to promote pension and retirement financial planning, focusing on women's empowerment. The event featured an interactive SIPEN activation and the conocetufuturo.do platform, engaging over 700 women. Influencers like Yamel Castro, Rosa Arencibia, and Nicole Coiscou helped amplify the pension education message.
The Securities and Exchange Board of India has adjusted settlement dates for trades in the derivative, cash, and Stock Lending and Borrowing Mechanism segments due to settlement holidays on 5 and 8 September 2025. Trades executed on 4, 5, and 8 September in the derivative segment will settle on 9 September, while cash and SLBM trades from 4 and 5 September will settle on 9 September, and those from 8 and 9 September will settle on 10 September. Stock exchanges have informed stakeholders and trading members of these changes.
The Bank for International Settlements Innovation Hub launched Project Danu to utilize digital twin technology for monitoring financial stability risks, initially focusing on extreme weather and natural catastrophe risks. Developed with several central banks, the project aims to create a digital twin framework to aid central banks in data integration and modeling for financial stability analysis.
The Anguilla Financial Services Commission's inspection of micro-lenders revealed deficiencies in customer onboarding, due diligence, and AML/CFT compliance. The review of six firms found incomplete loan applications, outdated identification documents, and inadequate proof of address and income verification. The Commission plans further reviews of non-compliant service providers and warned of potential enforcement actions for AML/CFT breaches.
The National Bank of Moldova has initiated work on a draft Executive Committee decision to establish functional and technical requirements for payment service provider interfaces offering account administration services. This initiative aims to implement the bank's regulation on strong customer authentication and secure communication standards. Stakeholders have been invited to submit feedback to support the drafting process.
The European Insurance and Occupational Pensions Authority (EIOPA) advised the European Commission on enhancing supplementary pensions under the Savings and Investments Union strategy. Key proposals include regulatory changes for occupational and personal pensions, focusing on value for money, auto-enrolment, and enhanced supervision. EIOPA also suggests a clearer EU-wide label for the Pan-European Personal Pension Product (PEPP), simplifying product features, and improving transparency and disclosure requirements.
The Central Bank of Bolivia defended its international reserves operations against electoral criticisms, asserting compliance with the Constitution and laws. It reported Net International Reserves at USD 2.881 billion, an increase of USD 905 million this year, due to gold investments. The bank warned that halting these operations could jeopardize the state's ability to fulfill obligations, raising default risks.
Saudi Arabia's Capital Market Authority approved Thimar Development Holding Company's SAR 195 million capital increase via a rights issue, limited to shareholders registered at the Security Depository Center after the extraordinary general assembly meeting. The offering price and share count will be set post-meeting, with the prospectus available later. The CMA emphasized that prospectus approval is not an investment recommendation, urging investors to review it and its risks before deciding.
The Hong Kong Mandatory Provident Fund Schemes Authority and its subsidiary, the eMPF Platform Company, released their 2024-25 annual reports detailing the eMPF Platform rollout, MPF System reforms, and financial results. Key developments include the migration of MPF trustees to the eMPF, proposals for MPF full portability, and expanded investment options. As of March 2025, total MPF assets reached HKD 1.34 trillion, with enforcement actions recovering HKD 191 million in default contributions.
The Central Bank of Cyprus published an article by its Governor, focusing on the European dimension of its operations.
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has cancelled the registration of AFOCAT-Centro Nor-Oriente, prohibiting it from issuing or renewing Traffic Accident Certificates (CAT). The decision was due to a fund deficit exceeding 10% of the required solvency fund, jeopardizing its ability to fulfill obligations to accident victims. SBS Resolution No 03135-2025 mandates that indemnity requests be submitted to SBS for validation against valid CATs and unpaid claims.
The Bank of Israel reported that Israel's foreign exchange reserves reached USD 230,321 million at the end of August 2025, representing 41.0 percent of GDP, with a monthly increase primarily due to a revaluation of USD 3,759 million.
South Korea's Financial Services Commission announced measures to tighten household debt management, reducing the loan-to-value ratio for mortgages in speculation-regulated areas to 40% and setting it at 0% for private housing business entities in certain zones. The maximum jeonse loan for one-house owners will be standardized at KRW 200 million across three guarantee institutions in the Seoul metropolitan area and speculation-regulated zones. Implementation begins on 8 September, with compliance inspections and regular monitoring planned.
The Thailand Securities and Exchange Commission is investigating reports of a cyberattack on a digital asset exchange and has mandated the operator to verify and report the incident promptly. The operator must also inform and respond to customer inquiries. Investors are advised to monitor updates through the SEC's and the operator's official channels.
The Egypt Financial Regulatory Authority's 2024 sustainability report highlights a legislative framework and the launch of a voluntary carbon market. It details nine regulatory decisions establishing a regional framework, enabling market infrastructure, and registering 34 emissions-reduction projects across several countries. Additional measures include amendments to Egypt’s Capital Market Law, oversight committee formation, and standards for accrediting local voluntary carbon registries.
Greece’s Ministry of National Economy and Finance detailed the Greek Development Bank's role and the 2021–2027 National Strategic Reference Framework in expanding SME access to finance and supporting investment priorities. The bank collaborates with commercial banks to mobilize capital and liquidity, with programmes channeling millions of euros to the real economy. The EUR 26.2bn framework budget focuses on growth, social cohesion, and transitions, with SME support including innovation, microfinance, and social entrepreneurship.
The Oman Financial Services Authority has signed a three-year cooperation programme with Muscat University to develop human capital and promote research in the capital market, insurance, and innovation sectors. The initiative aims to align education with market needs through studies, joint events, and entrepreneurship support, in line with Oman Vision 2040.
Bulgaria's Ministry of Finance announced Deputy Minister Metodi Metodiev's participation in the Thessaloniki International Fair, focusing on Bulgaria's euro area accession and the planned euro introduction on 1 January 2026. Metodiev emphasized the transition's role in enhancing economic stability and convergence, highlighting benefits such as reduced currency risk and transaction costs for Bulgaria–Greece economic relations.
The Egypt Financial Regulatory Authority has measured its 2024 carbon footprint for the first time and published the results in its annual sustainability report. It plans to offset emissions by purchasing voluntary carbon certificates from the Egyptian voluntary carbon market, which has addressed over 170,000 tonnes of emissions since August 2024.
The China Securities Regulatory Commission (CSRC) announced that Yi Huiman is under disciplinary review and investigation for suspected serious violations. The CSRC emphasized strengthening party discipline, anti-corruption efforts, and enhancing supervision to support high-quality development of China's capital markets.
The National Bank of Moldova has launched the fifth edition of its “School of Modern Finance” programme, now including master’s candidates from Moldova State University and economic journalists. Supported by the National Bank of Romania and Bucharest University of Economic Studies, it features expert lectures, practical sessions, and thematic visits in Romania. Participants will receive certificates and are expected to promote financial education through journalistic materials.
The Central Bank of the Republic of Kosovo and Austria’s Financial Market Authority (FMA) discussed enhancing cooperation in banking, pension fund, and insurance supervision, as well as crypto-assets regulation. The Vienna meeting also addressed extending their memorandum of understanding to include financial stability, consumer protection, and technical assistance. The FMA expressed support for aligning Kosovo’s regulatory framework with European Union standards.
The Superintendencia Financiera de Colombia highlighted Financial Superintendent César Ferrari's remarks on the need for a larger, more effective domestic capital market to scale green bond issuance. Ferrari noted Colombia's capital markets are only 1.2% of GDP and emphasized improving intermediation between savings and investment. He also called for broader participation in green bond issuance beyond banks, with cumulative issuance since 2016 totaling COP 2.8 trillion.
The Montenegro Capital Market Authority, with the Ministry of Finance and the Central Bank, will host the third international “Montenegro Financial Markets” conference on 16–17 September 2025 in Podgorica. Topics include corporate governance, digitalisation, sustainable finance, and crypto markets, with speakers from the World Bank and Visa. The programme will explore regional capital market development, digital transformation, and global economic trends' impact on domestic markets.
The Spanish Securities Commission (CNMV) has authorized BBVA to launch a voluntary public takeover bid for 100% of Banco de Sabadell, involving 5,023,677,732 shares. The offer includes one newly issued BBVA share plus EUR 0.70 in cash for every 5.5483 Banco Sabadell shares and is not subject to "fair price" rules for mandatory bids. Completion requires acceptance for shares representing more than half of Banco Sabadell’s voting rights, and BBVA plans to exercise squeeze-out rights if certain conditions are met.
The European Banking Authority has released a draft technical package for version 4.2 of its reporting framework to aid entities in transitioning to the Data Point Model 2.0 standard and adopting a new semantic glossary. The package includes validation rules, DPM and XBRL taxonomies, and revisions to Implementing Technical Standards on resolution planning, CRR3/CRD6 reporting, MREL information, and market risk benchmarking. Feedback is invited on the draft package.
The Australian Securities & Investments Commission (ASIC) has secured High Court special leave to appeal a Full Federal Court decision that Block Earner did not require an Australian financial services licence for its fixed-yield digital asset-related Earner product. ASIC seeks a High Court ruling on the definition of a “financial product,” focusing on interest-earning products and asset conversion, emphasizing a broad, technology-neutral interpretation. ASIC must cover Block Earner’s appeal costs.
The Australian Securities & Investments Commission reported a 68.78% pass rate for the 30th Financial Advisers Exam held in August 2025, with 152 of 221 candidates passing. First-time sitters comprised 73% of candidates. The exam, conducted by the Australian Council for Educational Research, maintains consistent standards, and unsuccessful candidates will receive feedback on underperformance areas.
ASIC accepted Mr. Allan William Donald's application to cancel his company auditor registration due to non-compliance with auditor independence requirements under the Corporations Act 2001 and the APES 110 Code of Ethics. Concerns included his dual role as auditor and company secretary, provision of prohibited non-assurance services, and inadequate independence threat assessments. ASIC's proactive surveillance identified these issues, with further findings and actions anticipated.
The Australian Securities & Investments Commission (ASIC) announced that Chris Marco was found guilty of 43 fraud counts totaling AUD 34,332,453 by a Supreme Court of Western Australia jury. The charges involved six investors, while his former executive assistant, Linda Marissen, was acquitted of all charges. Marco, who obtained over AUD 36.5 million from nine investors between 2013 and 2018, is set for sentencing on 30 October 2025.
The Australian Securities & Investments Commission secured final Federal Court orders against Mayfair 101 Group director James Mawhinney, barring him for 15 more years from promoting or raising funds related to financial products due to financially reckless conduct. This extends the injunction period to 20 years, following interim orders since August 2020. The Court cited substantial investor risk, misleading marketing, and inadequate risk disclosure but did not restrain Mawhinney from transferring assets abroad.
The Australian Prudential Regulation Authority (APRA) announced that Eric Insurance Limited's voluntary administrators will hold a creditors' meeting on 16 September 2025 to vote on a deed of company arrangement proposal as an alternative to liquidation. APRA is maintaining heightened supervision to safeguard policyholders during Eric Insurance's market exit, which began in July 2023 with the cessation of new policy issuance in June 2024. The creditor vote outcome will determine if a binding deed to compromise debts and claims will proceed.
The Australian Prudential Regulation Authority (APRA) announced that Eric Insurance Limited's creditors will vote on 16 September 2025 on a deed of company arrangement proposal as an alternative to liquidation, with APRA maintaining heightened supervision to ensure optimal outcomes for policyholders. Eric, which ceased new policy issuance in June 2024, is under APRA's oversight as it exits the general insurance market.
The Ukraine National Commission on Securities and Stock Market amended procedures for maintaining the accounting system of shares for limited and additional liability companies. It updated the register of professional participants, approved bond issuances, registered share issues for several entities, and cancelled certain registrations and licenses. Additionally, the Commission approved significant participations and appointments in various companies.
The National Bank of Georgia is collaborating with the International Monetary Fund (IMF) to enhance its regulatory framework for consolidated supervision of banking groups. Discussions with the IMF mission focused on international best practices, including Basel Committee and European Union standards, to address supervisory challenges as Georgian banks expand cross-border activities. The central bank has prioritized consolidated supervision since 2017.
The Securities and Exchange Commission of Pakistan (SECP) announced reforms to deepen the Sukuk market and advance digitalisation for financial inclusion and service efficiency. Initiatives include digital bank account opening for corporates, digital distribution of financial products, and auto-induction of private company shares into the central depository system. SECP also plans to introduce retail digital Sukuk and micro-Sukuk, partnering with telecom operators and banks to expand digital financial services.
The Securities and Exchange Commission of Pakistan (SECP) has signed a Memorandum of Understanding with Mobilink Microfinance Bank Limited to streamline corporate bank account openings for SECP-registered companies. The initiative will initially involve periodic data sharing and verification through SECP’s Financial Institutions Portal, followed by secure API integration for real-time information exchange.
The National Credit Union Administration reported Q2 2025 data showing growth in assets, lending, and funding among federally insured credit unions, with total assets reaching USD 2.38 trillion and loans at USD 1.68 trillion. Net worth improved to 11.11%, and net income rose to USD 17.7 billion, reflecting a 13.2% increase from 2024. Membership expanded to 143.8 million, with cash holdings at USD 192.0 billion.
The National Association of Insurance Commissioners (NAIC) urged U.S. Congress to extend the enhanced premium tax credits under the Affordable Care Act, set to expire at the end of 2025. Without an extension, insurers will notify over 20 million consumers of significant premium increases, impacting market stability and affordability. The NAIC highlighted risks like shrinking risk pools, reduced state reinsurance funding, and potential insurer exits.
Greece's Ministry of National Economy and Finance highlighted Minister Kyriakos Pierrakakis's remarks at the 5th Economist Thessaloniki Metropolitan Summit, emphasizing Greece's 2.3% economic growth, more than double the euro area rate. Pierrakakis outlined priorities on reforms, economic resilience, and living standards, focusing on nationwide growth and supporting EU cross-border mergers. He noted the Prime Minister's upcoming speech at the Thessaloniki International Fair as a key milestone.
Greece's Ministry of National Economy and Finance outlined plans to reduce taxes and combat tax evasion and smuggling, linking tax cuts to public finance stabilization and growth. Deputy Minister Giorgos Kotsiras emphasized the role of a new customs code in enhancing enforcement and digitalization efforts. He also highlighted Greece's influence on EU legislation and advocated for cautious tax-policy measures amid geopolitical uncertainties.
Hong Kong's Financial Services and the Treasury Bureau announced the commencement of the Banking (Amendment) Ordinance 2025 on 3 November, enabling voluntary electronic information sharing between banks and law enforcement agencies. The ordinance facilitates secure sharing of account information to combat money laundering, terrorist financing, and proliferation financing, with legal protection for banks. The notice will undergo negative vetting by the Legislative Council on 10 September.
Peru's SBS issued guidance on handling Libre Desafiliación Informada (LDI) requests following its repeal under the Pension System Modernisation Law. Requests submitted by 5 September 2025 will be processed under Law No. 28991, while transfers after this date will follow new regulations by the Office of Pension Standardisation. Applications for Minimum or Proportional Pension benefits under the modernisation law will be accepted once the operational regulation is approved.
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has reduced the Deposit Insurance Fund (FSD) coverage cap to PEN 118,300 for September–November 2025, down from PEN 120,500 for June–August 2025, due to a negative Wholesale Price Index (IPM) variation. The FSD protects depositors when an authorised deposit-taking institution is intervened or liquidated, covering demand, savings, and time deposits. The coverage limit is adjusted quarterly based on IPM changes.
The Hong Kong Monetary Authority released the Hong Kong Mortgage Corporation Limited’s Social Bonds Allocation Update and Impact Report 2025, detailing the allocation of net proceeds from social bond issuances in 2022, 2023, and 2024 and the social impacts as of 30 June 2025. An Independent Practitioner’s Limited Assurance Report from PricewaterhouseCoopers accompanies the report, covering the allocation and selected disclosed information.
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites, a mobile application, and phishing emails linked to BNP Paribas. The alert emphasizes that banks will not send SMS or emails with hyperlinks for transactions or request sensitive information. Affected individuals should contact their bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority reported a decrease in Hong Kong's official foreign currency reserve assets to USD 421.6 billion at end-August 2025, down from USD 425.4 billion in July. Including unsettled foreign exchange contracts, the reserves stood at USD 421.1 billion. The HKMA also outlined its Exchange Fund data release schedule, with upcoming releases on 12 and 30 September 2025.
The Agency for Regulation and Development of the Financial Market of Kazakhstan and Oman's Financial Services Authority signed a memorandum to enhance cooperation on financial technologies, education, and inclusion. It focuses on developing financial market infrastructure and supporting the Tabadul platform for regional exchange connectivity and cross-border trading. The agreement was signed by the Agency’s Chair, Madina Abylkassymova, and the FSA’s Executive President, Abdullah Salim Al-Salmi.
Nurlan Abdirakhmanov has left his role as First Deputy Chair of the Agency for Regulation and Development of the Financial Market of Kazakhstan for another job. His contributions included enhancing financial sector regulation, international engagement, and consumer protection. Abdirakhmanov's career spans over 20 years in the National Bank of Kazakhstan system, with senior roles including Chair of the Kazakhstan Deposit Insurance Fund.
Starting 30 September 2025, Kazakhstan's Financial Market Agency will enforce a mandatory decision period for unsecured online consumer loans. Bank loans between 150 and 255 AEK and microcredits above 75 AEK will face an eight to 24-hour disbursement delay, requiring borrower reaffirmation. This aims to reduce rushed borrowing and fraud, excluding commodity credits, internal refinancing, and borrowing within a payment card limit up to 150 AEK.
The Agency for Regulation and Development of the Financial Market of Kazakhstan adopted Resolution No. 14, amending stock exchange listing and disclosure regulations. Key changes include a "Debt Securities Buffer" for companies defaulting on bond coupon payments, new disclosure requirements for exchange members, and expanded resources for publishing financial statements. The resolution also allows the exchange to manage market-maker status per instrument.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported continued expansion in lending and balance sheets for 22 second-tier banks as of August 2025. Sector assets increased by 0.4% in July, driven by a 1.9% rise in the loan portfolio to KZT 39.8 trillion, while highly liquid assets totaled KZT 19.1 trillion. Credit to the economy grew 2.2% to KZT 37.1 trillion, with tenge loans comprising 91.5% of the total, and non-performing loans accounted for 3.5% of the loan book.
Kazakhstan's Financial Market Agency reported a 3.5% increase in insurance sector assets to KZT 3.6tn in July 2025, with gross written premiums at KZT 163.9bn. Year-to-date, assets rose 14.4%, liabilities increased 16.2%, and net profit was KZT 155bn. Premiums grew 17.0% year on year to KZT 964.0bn, driven by voluntary personal and property insurance, while payouts rose 39.2% to KZT 245.0bn.
Kazakhstan's Financial Market Agency reported a 10.8% rise in equity market capitalisation to KZT 37.7 trillion in July 2025, driven by KASE Index gains. The KASE Index rose 6.6% to 6,413.66 points, and equity trading turnover increased 4.0% to KZT 28.3 billion. Government securities trading grew 11.6% to KZT 854.9 billion, with the Ministry of Finance raising KZT 666.3 billion across 13 bond issues.
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported growth in balance sheets and lending for microfinance organisations in Q2 2025, alongside a rise in overdue loans. Total assets increased by 10.9% to KZT 3.5 trillion, with microfinance organisations holding the largest share. Administrative actions included 179 sanctions for reporting and compliance breaches, with penalties totaling KZT 78.5 million and several licence suspensions and revocations.
The Agency for Regulation and Development of the Financial Market of Kazakhstan released its July 2025 update on consumer protection, highlighting complaint handling, supervisory actions, and mortgage refinancing. It reviewed 14,536 appeals, issued nine administrative penalties totaling KZT 5.4 million, and reported refinancing 33,000 loans for KZT 208.6 billion. Support measures for socially vulnerable borrowers are extended to 31 December 2025.
The Thailand Office of Insurance Commission held the Prime Minister’s Insurance Awards 2025, themed “INSURENEXT Driving the Future of Insurance with Digital Innovation & Sustainability,” recognizing excellence in management, customer service, innovation, and conduct. A new category for "Outstanding Quality Non-life Loss Adjuster" was introduced, with 61 honors awarded across 12 categories. Notable recipients included Muang Thai Life Assurance for the Hall of Fame award and Dhipaya Insurance for outstanding management.
Fitch Ratings has affirmed Kuwait's sovereign credit rating at AA- with a stable outlook, as noted in a press statement by the Central Bank of Kuwait.
Carlos Queiroz, Director of Prudential and Reinsurance Supervision at SUSEP, participated in a Rio de Janeiro seminar discussing Law No. 15.040/2024, modernizing Brazil's insurance contract regime. He emphasized the judiciary's role in ensuring the law's effectiveness and highlighted themes like contractual transparency, legal certainty, and policyholder protection. The seminar also addressed reinsurance, claims regulation, and arbitration in insurance contracts.
The European Central Bank's weekly financial statement shows a balance sheet total of EUR 6,082,009 million, a decrease of EUR 7,384 million from the previous week. Key changes include a reduction in securities of euro area residents to EUR 4,201,896 million and a decline in lending to euro area credit institutions to EUR 19,598 million. Liabilities to euro area credit institutions fell to EUR 2,817,738 million, with notable decreases in current accounts and banknotes in circulation.
The Bank for International Settlements Innovation Hub published its 2025 Academia Workshop Report on applying advanced technologies in finance, covering artificial intelligence, interoperability, privacy-enhancing technologies, trusted execution environments, digital identity, decentralised finance and scalable distributed systems. Key insights address the economic impact and cyber risks of large language models, legal and governance barriers to interoperability, scalability limits of privacy-enhancing technologies, the role of central banks in digital identity, and compliance challenges in permissionless decentralised finance. Next steps include a technical report on trusted execution environments, a paper on encrypted joint supervisory data analysis, and further seminars for central bank governors.
The South African Reserve Bank released its monthly statement of assets and liabilities for August 2025, showing total assets and liabilities at ZAR 1.303 trillion, a decrease of ZAR 3.272 billion from July. The decline was primarily due to reduced foreign exchange reserves and SDR holdings, while gold assets increased. On the liabilities side, notes and coin circulation rose, but the contingency reserve account and banks' deposits decreased.
The South African Reserve Bank reported an increase in gross reserves to USD 70,416 million and an international liquidity position of USD 65,899 million as of 31 August 2025. This rise was driven by a EUR 500 million loan from the International Bank for Reconstruction and Development, a higher US dollar gold price, and valuation adjustments, partially offset by government foreign exchange payments. Gold reserves, Special Drawing Rights, and foreign exchange reserves increased, while foreign currency deposits were negative at USD -5,052 million.