The Central Bank of the Philippines reported an increase in gross international reserves to USD 105.9 billion at end-August 2025, up from USD 105.4 billion in July, attributed to higher global gold prices and income from investments. Net international reserves also rose by USD 0.5 billion. The reserves cover 7.2 months of imports and 3.4 times the short-term external debt.
The Central Bank of the Philippines announced that the Financial Stability Coordination Council (FSCC) will develop an enhanced monitoring framework for non-bank financial institutions (NBFIs) and has launched a curated database for interagency information-sharing on systemic risks. These initiatives aim to align with global best practices and strengthen systemic risk safeguards. The FSCC includes the Bangko Sentral ng Pilipinas, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission.
The Central Bank of the Philippines reported a continued rise in outstanding loans of universal and commercial banks in July, with year-on-year growth slowing to 11.8% from 12.1% in June. Loans to residents increased by 12.4%, while loans to non-residents decreased by 8.1%. The bank emphasized its commitment to aligning domestic liquidity and lending conditions with its price and financial stability goals.
South Korea's Financial Supervisory Service's preliminary data for end-June 2025 shows the systemwide substandard or below (SBL) loan ratio at 0.59%, with SBL stock steady at KRW 16.6 trillion. Provisions for bad debts decreased to KRW 27.4 trillion, reducing the provision coverage ratio by 5.0 percentage points to 165.5%. Business loans accounted for KRW 13.1 trillion of SBLs, while household loans and credit card receivables comprised KRW 3.2 trillion and KRW 0.3 trillion, respectively.
The South Korea Financial Supervisory Service reported weaker profitability and deteriorating asset quality for credit card companies in H1 2025, with net income falling 18.3% year on year to KRW1.2251 trillion. Revenues rose to KRW14.3358 trillion, but expenses increased faster due to higher loan loss and interest expenses. Non-card specialized credit finance companies saw a 14.5% rise in net income to KRW1.7829 trillion, despite rising delinquency and substandard-or-below ratios.
The Vietnam State Securities Commission’s Technology and Digital Transformation Department awarded a contract to DTT Technology Joint Stock Company for an IT system to enhance management and supervision functions. The contract, valued at VND 747,916,000, was awarded through a simplified direct appointment process. Two other firms were not selected due to higher quoted prices.
The Vietnam State Securities Commission's Technology and Digital Transformation Department awarded a VND 8.01bn contract to Vietnam National Cyber Security Technology Joint Stock Company to test vulnerabilities and security weaknesses in its systems. The contract, procured through an open domestic e-bidding process, spans 1,095 days. ITEKO Technology Joint Stock Company was not selected due to insufficient bidder capacity and experience.
Bulgaria's Ministry of Finance and European Commissioner for Financial Services Maria Luis Albuquerque issued a joint statement on integrating Bulgaria’s financial system into the European framework and enhancing the EU’s Savings and Investment Union. Discussions included capital market development, consumer and investor protection, and SME access to finance. The statement underscored the need for financial literacy, transparent institutions, and inclusive EU capital markets development.
The Central Bank of Poland reported official reserve assets of EUR 223.5 billion (USD 260.9 billion) at the end of August 2025. Reserves decreased by EUR 0.02 billion in euro terms but increased by USD 5.0 billion in US dollar terms. Reserve management focuses on safety and liquidity, with investments primarily in Treasury securities and diversified through non-government debt securities and investment fund units.
The Reserve Bank of Fiji has amended the Reserve Bank of Fiji Act 1983 to prohibit virtual asset services in Fiji, effective 30 August 2025, with violations punishable by fines up to $1,000,000 or imprisonment for up to 14 years. The ban applies to any person or entity, covering activities such as exchanging virtual assets, marketing, and providing related financial services to Fiji residents.
The Uganda Insurance Regulatory Authority mandates bancassurance agents to distribute insurance products via partner financial institutions' branches, agent banking, and digital platforms. Financial institution staff can facilitate this, subject to compliance and consumer protection conditions like mandatory training and application review by an authorised person. Bancassurance agents must integrate these requirements into their internal policies.
The Thailand Securities and Exchange Commission has revoked the approval of Mrs. Kanpakkaya Prasertkijkul as a general investment consultant due to misrepresentation of her educational background. The SEC found she falsely claimed to hold a bachelor's degree, which constitutes providing false information. Consequently, she is barred from applying for capital market roles for two years starting 6 September 2025.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) assisted in a Joint Serious Offences Team investigation leading to charges against Yuvraj Verma and Rohit Sethi. The charges, related to a CAD 6.8 million real estate fraud in Edmonton, include fraud, false prospectus, ticket scheme management, document forgery, and money laundering. Both accused were released on conditions pending a court appearance on October 1, 2025.
The Central Bank of Russia released its Banking Regulation Review for 2025 Q2, detailing upcoming regulatory initiatives and summarizing recent measures. Key plans include engaging market participants on new subordinated instrument requirements and updating credit institutions' internal capital adequacy assessment processes. Recent initiatives involve transitioning banks to a risk-sensitive capital adequacy approach and updating financial stability recovery plan requirements.
The Bank of Russia will issue a RUB 3 silver commemorative coin titled "The 150th Anniversary of Tennis in Russia" on 8 September 2025, which will be legal tender in the Russian Federation. The proof-quality coin contains 31.1 g of fine silver and features the national coat of arms on the obverse and tennis-themed imagery on the reverse, with a mintage of 3,000 pieces.
The Central Bank of Russia extended foreign cash withdrawal restrictions for six months due to sanctions, maintaining limits until 9 March 2026. Individuals with foreign currency accounts opened before 9 March 2022 can withdraw up to USD 10,000 or equivalent in euros, with remaining balances available in rubles. Non-resident legal entities are prohibited from withdrawing cash in USD, euros, GBP, or JPY, while resident legal entities can withdraw these currencies for business travel within legal limits.
The U.S. House Committee on Financial Services announced the enactment of the Home Buyers Privacy Protection Act, signed by President Trump, to address abusive mortgage data practices. The law introduces clear regulations on the sale of "trigger leads," protecting consumers' personal financial information. Authored by Representatives John Rose and Ritchie Torres, the Act received unanimous support in Congress.
The Egmont Group, with the Financial Action Task Force, INTERPOL, and the UN Office on Drugs and Crime, released a handbook on international cooperation against money laundering, urging enhanced cross-border collaboration. It highlights informal cooperation methods and includes case studies, with practical guides for Financial Intelligence Units and law enforcement, ahead of the UN Crime Congress in April 2026.
Payments Canada released the results of its public consultation on the Real-Time Rail (RTR) legal framework, showing strong support for the system and its objectives. Feedback is being used to refine the RTR By-law, rules, and policy elements, with a focus on risk-based access, safety features, and fraud services. Payments Canada plans further collaboration with stakeholders to address feedback before the RTR launch.
The Federal Deposit Insurance Corporation (FDIC) released its list of state nonmember banks evaluated for Community Reinvestment Act (CRA) compliance, detailing ratings assigned in June 2025. The CRA mandates the FDIC to assess banks' efforts in meeting community credit needs, including those of low- and moderate-income neighborhoods, while maintaining safe operations. The release also highlights the requirement for public disclosure of CRA evaluations and ratings.
The Egypt Financial Regulatory Authority approved the registration of four new emissions-reduction projects, including Abu Minqar Solar PV and soil organic enhancement projects, for carbon reduction certificates trading on Egypt’s voluntary carbon market. Preliminary approval was also granted to Spain’s Applus as a verification and validation body. The FRA database now includes 34 projects with 170,000 certificates available for trading.
The Commodity Futures Trading Commission and the Securities and Exchange Commission issued a joint statement on harmonizing regulatory frameworks, announcing a roundtable to discuss priorities. Key workstreams include harmonizing product and venue definitions, streamlining reporting standards, aligning capital frameworks, and developing coordinated innovation exemptions. A joint staff statement on spot crypto asset products was an initial step in this effort.
The Commodity Futures Trading Commission (CFTC) approved a policy statement on regulatory offenses with criminal liability under Executive Order 14294, including DOJ referral considerations. The statement will be published in the Federal Register, and the CFTC will report to the Office of Management and Budget on enforceable criminal offenses and penalties. The CFTC also withdrew a previous advisory from the Division of Enforcement with the same framework.
The Financial Supervisory Authority of Norway is expanding the group of banks subject to the minimum requirement for own funds and eligible liabilities (MREL), adding five banks to the simplified regime. OBOS-banken and Sparebanken Øst will transition to simplified requirements, excluding a market confidence buffer and subordination requirement. A three-year phase-in period will allow newly included banks to replace senior debt with MREL-eligible debt, with further expansion assessments planned after 2028.
Norway's Financial Supervisory Authority withdrew a state-authorised auditor's approval for gross audit rule breaches, including inadequate evidence and documentation. Failures in quality management and audit engagements led to the auditor being deemed unfit under the Auditor Act. Effective 31 December 2025, the decision restricts the auditor from using the title and operating independently, though employment in an audit firm is permitted.
The U.S. Securities & Exchange Commission (SEC) issued a chairman’s statement in response to a U.S. Court of Appeals for the Fifth Circuit opinion on the SEC's 2023 securities lending and short sale rulemakings. The court remanded Rule 10c-1a, Rule 13f-2, and Form SHO for the SEC to assess their cumulative economic impact. Chairman Paul S. Atkins instructed SEC staff to evaluate the rules and propose recommendations, including possible rule changes.
The U.S. SEC and CFTC issued a joint statement on renewed coordination as securities and derivatives markets converge, announcing a joint roundtable on regulatory harmonization for 29 September 2025. Key areas include harmonizing product and venue definitions, streamlining reporting standards, and aligning capital and margin frameworks. The roundtable will address expanded trading hours for 24/7 markets, regulatory clarity for event contracts, and a coordinated approach to portfolio margining.
The Alberta Securities Commission and the RCMP Federal Policing Northwest Region's Integrated Market Enforcement Team have charged Edmonton residents Yuvraj Verma and Rohit Sethi with seven Criminal Code offences. The charges involve misappropriating approximately CAD 6.8 million for a real estate project, including fraud, forgery, and money laundering. Both individuals have been released on conditions pending their court appearance on October 1, 2025.
The Alberta Securities Commission and the RCMP's Integrated Market Enforcement Team have charged Yuvraj Verma and Rohit Sethi with seven Criminal Code offences related to a real estate investment scheme. Allegations include raising CAD 6.8 million from investors under false pretenses, diverting funds, and forging mortgage documents. Charges encompass fraud, false prospectus, ticket scheme management, document forgery, and money laundering.
The China Securities Regulatory Commission (CSRC) has approved the Fund Industry Institutional Investor Direct Sales Service Platform (FISP) to enhance the public fund sector and investor services. Operated by China Securities Depository and Clearing Corporation, FISP standardizes and automates data exchange for institutional investors, addressing inefficiencies and risks in traditional direct-sales models. The CSRC will oversee the platform's development and service quality.
The China Securities Regulatory Commission has released draft rules for public consultation to lower investor costs and enhance market order. Proposals include reducing subscription, purchase, and sales service fees, crediting redemption fees to fund assets, and eliminating sales service fees for holdings over one year. The draft introduces caps on trailing commission ratios and addresses issues like interest ownership on fund sales settlement monies and double charging in advisory services.
The State Bank of Vietnam reported progress on Project 06, highlighting biometric matching against the National Population Database for digital transactions, significantly reducing fraud. By mid-August 2025, over 123.9 million individual and 1.3 million corporate accounts were biometrically matched, covering all digital transactions. Non-cash transactions rose significantly, ATM transactions declined, and 32 entities, including banks and payment intermediaries, linked with VNeID to support welfare payments.
The China Banking and Insurance Regulatory Commission reported an expansion in insured vehicle coverage and higher claims payouts for 2024 compulsory motor vehicle traffic accident liability insurance. Insured vehicles reached 372 million, with premium income at CNY 271.06 billion and claims payouts rising 11.6% to CNY 226.28 billion. The regulator aims to enhance motor liability protection and service quality.
China's National Financial Regulatory Administration updated measures for insurance companies' capital guarantee funds, adjusting criteria for depository banks and enhancing supervision. The framework raises the net asset threshold, removes bank type restrictions, and requires robust internal controls. It aligns with trade arrangements with Hong Kong and Macao, allowing their banks as depositories, and shifts to an ex post reporting regime with stricter documentation and compliance requirements.
China's National Financial Regulatory Administration revised the Measures for the Administration of Capital Guarantee Deposits of Insurance Companies, updating supervisory and operational requirements. Changes include allowing all commercial banks to hold deposits, raising depository bank eligibility conditions, and expanding permitted forms of placement. The administration will enhance supervisory guidance to support implementation by insurance institutions.
Argentina Securities Commission's Deputy Vice President, Sonia Salvatierra, addressed the Executive Programme in Security Policy and Management, discussing the CNV's regulatory role and innovation challenges. She emphasized the importance of institutional and international cooperation, investor protection, and financial education to foster a transparent capital market.
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance to promote voluntary cross-border information sharing among financial institutions to combat illicit finance, clarifying that Suspicious Activity Reports (SARs) cannot be shared. Developed with input from various regulatory bodies, the guidance applies to multiple sectors and aligns with the President’s Working Group on Digital Asset Markets report.
The Swiss Financial Market Supervisory Authority (FINMA) issued guidance on disclosing cryptobased assets in financial statements, addressing ambiguities post-DLT Act. The guidance updates terminology and introduces conditions under Article 16 no. 1bis of the Banking Act for classifying cryptobased assets as custody assets. FINMA allows pragmatic adaptation of disclosure locations and clarifies that supervisory reporting should exclude fiduciary-held cryptocurrency.
The Nepal Insurance Regulatory Authority has tightened the renewal process for insurance agent licences, requiring proof of at least one percent business activity from the previous fiscal year and updated KYC details in the IRMIS system. The renewal fee is set at NPR 1,500, with an additional late fee of NPR 1,000 for applications within three months post-expiry. Licences not renewed within this period will be automatically cancelled.
The Financial Action Task Force, with the Egmont Group, INTERPOL, and the UN Office on Drugs and Crime, released a Handbook on International Cooperation against Money Laundering, urging enhanced cross-border collaboration. It emphasizes practical methods, including informal channels and joint analysis, to address global weaknesses in money laundering investigation and prosecution. It includes case studies like a €95 million laundering scheme and coordinated actions seizing USD 150 million in cryptocurrency assets.
The Nepal Insurance Regulatory Authority reported updated claims and payouts from non-life insurers due to recent windstorm and hailstorm damage, totaling approximately NPR 23.49 billion across 2,255 claims. Of this, about NPR 4.02 billion has been paid to insured parties, with reinsurance companies contributing approximately NPR 3.52 billion. Nepal Reinsurance Company received 2,660 reinsurance claims amounting to NPR 15.69 billion.
The Securities and Exchange Board of India (SEBI) issued a public warning about fraudsters impersonating SEBI officials and using fake communications to demand payments. The scams involve forged SEBI letterhead, logos, and social media notices, falsely claiming compliance service fees or penalties. SEBI advises verifying enforcement actions on its website and ensuring payments are made only through its official payment gateway.
The Bank of Korea reported a KRW 14.5 trillion increase in industrial loans by depository corporations for Q2 2025.
Argentina's Central Bank VP, Vladimir Werning, discussed the stabilization programme at the Finance Executives' Convention. Key themes were domestic reordering, increased reserves, reduced debt, and declining inflation, focusing on macro and micro measures for election-related and private market challenges. Stabilization signals included market deepening, rate moderation, and a flattening yield curve.
The Central Bank of the Republic of China (Taiwan) reported end-August 2025 foreign exchange reserves of USD 597.43 billion, a decrease of USD 439 million from the previous month. The decline was attributed to reserve management returns, exchange rate movements, and intervention to stabilize capital flows. Foreign portfolio investors held USD 951.1 billion in securities and New Taiwan dollar deposits, equating to 159% of the reserves.
Bolivia's Ministry of Finance, via Vice Minister Miguel Ángel Ríos, denied that the Gestora Pública de la Seguridad Social de Largo Plazo funds the fiscal deficit. Pension assets are invested under Pension Law No. 065, with 36.7% in bonds from the General Treasury and Central Bank, and the rest in diverse sectors and abroad, achieving a 4.4% return in August 2025. This contrasts with the previous Law 1732, which required a 75% public sector allocation.
Chile's Superintendence of Pensions issued General Rules No. 347 and No. 348 to establish the operating framework for the Autonomous Pension Protection Fund (FAPP) and its administrator, AFAPP. Rule No. 347 mandates financial disclosure and audit requirements, while Rule No. 348 sets accounting instructions for daily recording of fund movements and handling of bank debits and credits. These measures aim to enhance governance, accounting, and reporting standards for the new Social Security Insurance (SSP).
The Central Bank of Colombia has amended its regulatory instructions on the interoperability of instant low-value payment systems, updating the framework for entities processing payment orders and instant funds transfers. Revisions to the External Regulatory Circular DSP-465 clarify guidance on populating the Centralized Directory and generating QR codes. The update targets low-value payment system operators and relevant supervisory bodies.
The Central Bank of Luxembourg reported a 0.81% month-on-month decline in the aggregate balance sheet total of Luxembourg credit institutions to EUR 976,349m as of 31 July 2025, despite a 2.76% year-on-year increase. The decrease was due to reduced claims on other banks and lower liabilities, while loans to non-bank customers rose by 0.47%. Deposits from the resident non-bank sector slightly decreased month-on-month but increased by 7.34% year-on-year, with significant growth in deposits from other financial intermediaries.
The Angola Capital Markets Commission has approved the registration of Fénix, a closed-end venture capital fund offered by private subscription. Kassai Capital will manage the fund, with Banco de Negócios Internacional serving as the depositary.
The Hong Kong Mandatory Provident Fund Schemes Authority released the June 2025 Statistical Digest, showing total MPF assets exceeding HKD 1.4 trillion, a 131% increase over the past decade. Equity and mixed assets funds, comprising nearly 80% of MPF assets, delivered average annualised net returns of 4.7% and 4.3% respectively. Default investment strategy funds covered over 30% of accounts, with notable growth in tax-deductible voluntary contributions.
The Italian Securities Commission released Commissioner Carlo Comporti's remarks on the tokenization of traditional assets, presented at the "Capital Markets in the Digital Age" conference in Dubrovnik.
The National Bank of Ukraine, with national and international bodies, is implementing a Memorandum to develop integrated capital markets infrastructure. This involves legislative amendments to establish vertically integrated trading, clearing, settlement, and depository recordkeeping. Key steps include optimizing governance of the National Depository and Settlement Center, forming a holding company with international investors, and consolidating depository services under a single central securities depository.
The National Bank of Ukraine reported that international reserves reached USD 46,032.7 million as of 1 September 2025, a 7.0% increase from August, driven by significant inflows from international partners and reduced net foreign-exchange sales. Foreign-currency inflows included USD 4,710.8 million from the European Union and USD 1,059.7 million via World Bank accounts. Reserves now cover 5.0 months of future imports.
The Central Bank of the Republic of Kosovo and the International Monetary Fund discussed strengthening institutional cooperation and ongoing financial sector reforms. Key topics included aligning supervision with international standards, implementing countercyclical capital buffers, and developing a regulatory framework for crypto-assets. The agenda also covered advancing the Emergency Liquidity Assistance framework and a Central Bank Transparency Code project.
The Central Bank of the Republic of Kosovo announced Governor Ahmet Ismaili's participation in the Austrian National Bank's leadership transition ceremony, where Martin Kocher succeeded Robert Holzmann. The event included senior Austrian officials and international financial representatives. The Central Bank emphasized ongoing cooperation with the Austrian National Bank on financial stability and capacity building, reaffirming a commitment to deepen collaboration.
The Australian Prudential Regulation Authority (APRA) outlined nine actions to Treasurer Jim Chalmers and Finance Minister Katy Gallagher to boost productivity and ensure financial stability. Key initiatives include reforms to banking licensing, life insurers’ capital requirements, and general insurers’ reinsurance settings. APRA plans capital adjustments and changes to capital modelling for banks by late 2025, with cross-industry consultations on rule duplication in early 2026 and a data reporting initiative by December 2027. Further details are in APRA's Corporate Plan.
The Australian Prudential Regulation Authority (APRA) outlined nine actions to enhance productivity while maintaining financial system stability, focusing on regulatory efficiency and transparency. Initiatives include reforms in banking, insurance, and payments, with consultations on bank licensing, insurer capital requirements, and reinsurance settings, alongside plans for capital adjustments and data reporting changes by December 2027.
The Australian Securities & Investments Commission (ASIC) announced that the Full Federal Court dismissed appeals by Latitude Finance Australia and Harvey Norman Holdings regarding misleading conduct in a campaign promoting a 60-month interest-free payment method. The Court upheld that key conditions, like the requirement to use a Latitude credit card and associated fees, were inadequately disclosed. ASIC will pursue penalties, adverse publicity orders, an injunction, and costs in a forthcoming hearing.
At the RMA CRO Conference 2025, APRA outlined its 2025-26 Corporate Plan, focusing on balancing risks with reducing regulatory burdens. Priorities include revising the bank capital framework, enhancing resilience through CPS 230, and maintaining cyber preparedness under CPS 234. APRA will increase AI monitoring without new regulations and coordinate on geopolitical risks through the Council of Financial Regulators. Efforts to reduce compliance costs include simplifying bank licensing, clarifying capital expectations, and reducing data reporting burdens.
The Australian Prudential Regulation Authority (APRA) emphasized financial and operational resilience in its Corporate Plan, focusing on proportionality and reducing compliance costs. Key initiatives include revising the bank capital framework, addressing cyber resilience under CPS 234, and reducing regulatory burdens through simplified bank licensing and clarified capital requirements, with no new AI-specific regulations planned.
The Central Bank of Kenya has licensed an additional 27 digital credit providers (DCPs), bringing the total to 153. The licensing process, initiated in response to concerns over unregulated lenders, focuses on business models, consumer protection, and the suitability of stakeholders. Since March 2022, over 700 applications have been received, with many still pending due to incomplete documentation.
The New Zealand Financial Markets Authority has concluded its consultation on tokenisation in financial markets, receiving over 20 submissions from various stakeholders. The FMA is now reviewing the feedback and plans to release thematic insights in early 2026, outlining its future focus on tokenisation.
Ukraine’s National Commission on Securities and Stock Market aims to simplify, digitize, and secure pension saving tools for smartphone access. The initiative proposes ease of use like purchasing government bonds through Diia and investment in state-owned companies. Discussions included linking privatization with pension payments to enhance outcomes.
Angola's Ministry of Finance announced a public offering for 29.75% of Banco de Fomento Angola (BFA) as part of the PROPRIV 2023–2026 privatisation programme. The offering, involving shares held by UNITEL and BPI, aims to bolster Angola's capital markets and is positioned as a vote of confidence in BFA. The initiative is linked to broader reforms enhancing credit access, investor protection, and legal certainty.
The Central Bank of Latvia reported that Latvian payment service providers processed 450.4 million non-cash payments totaling EUR 584.7 billion in the first half of 2025, a 6% increase in volume and an 18% rise in value from 2024. Payment cards were the most used, accounting for 60.2% of non-cash payment volume, while credit transfers drove the largest increase in value. By end-June 2025, 2.2 million payment cards were issued, with residents accessing 57.3 thousand POS terminals and 865 ATMs in Latvia.
The Central Bank of Cyprus released a statement from its Governor detailing initiatives to enhance financial literacy among youth.
The European Financial Reporting Advisory Group (EFRAG) has opened registration for public outreach events in September 2025 to gather feedback on the Revised ESRS Exposure Drafts. These sessions, from 10 to 30 September, aim to engage stakeholders, including national standard setters and financial institutions, through online and hybrid formats. Further details on the programme and registration will be provided as they become available.
The Indonesia Financial Services Authority (OJK) confirmed financial system stability in its August 2025 update, noting adequate liquidity and solvency despite challenges. Supervisory actions included fines, licence revocations, and enhanced due diligence, while digital finance activities expanded significantly. Licensing for insurance, pensions, and non-bank finance sectors was integrated into the SPRINT platform, and new rules were introduced for derivatives, electronic meetings, and fintech lending.
The Securities and Exchange Commission of Pakistan (SECP) warned against the 4D Group of Companies and its owner, Muhammad Asif, for promoting an illegal investment scheme promising 8% to 12% monthly returns on social media. SECP clarified the company is not registered under the Companies Act, 2017, and is unauthorized to raise deposits or offer investment schemes. The regulator advised the public to avoid investing with unregistered platforms and referred the matter to investigative authorities.
The Securities and Exchange Commission of Pakistan has retracted its 21 May 2025 press release directing United Insurance Company of Pakistan Limited to halt its fresh guarantee business. This follows the Islamabad High Court's suspension of the SECP's 20 May 2025 directive after a petition by United Insurance.
The National Credit Union Administration has removed references to disparate impact liability from its Fair Lending Guide and will no longer conduct disparate impact reviews, aligning with White House Executive Order 14281. Supervisory activities will exclude disparate impact risk assessments, though fair lending examinations will continue, with actions taken for disparate treatment or other violations.
The Australian Securities & Investments Commission released its correspondence with the Treasurer regarding regulatory reform opportunities, featuring a letter dated 1 August 2025 and a supplementary letter from 12 August 2025 linked to a productivity roundtable.
The People's Bank of China and the Central Bank of the Republic of Azerbaijan signed a memorandum of understanding to enhance bilateral financial cooperation. The agreement focuses on business and information exchange in monetary policy, the financial sector, payment systems, and financial technology.
The Financial Conduct Authority (FCA) released examples of good practices and areas for improvement from firms' applications for FCA authorisation or registration. Key themes include the need for skilled staff, robust policies, and appropriate financial resources. Common issues identified are overreliance on compliance consultants, inadequate evidence of UK business commitment, and unclear IT plans.
The Financial Superintendence of Colombia highlighted the issuance of the Environmental and Social Risk Management System (SARAS) framework to enhance management of social, environmental, and climate risks. SARAS aims to standardize concepts, develop metrics, and drive implementation by senior management and boards. The authority plans to continue issuing circulars to guide risk management and integrate sustainability into supervisory processes.
The Bank of Finland's Q2 2025 statistics show a decline in average interest rates for new unsecured consumer credit and vehicle loans. Unsecured consumer credit drawdowns from OFIs rose 40% year on year, with an annualised interest rate of 8.03% and an effective rate of 12.52%. The OFI lending dashboard now includes corporate loans by instrument and non-performing loan shares, excluding Aurajoki Nordic Oy, Anyfin AB filial i Finland, and GF Money Oy from the 2025Q2 statistics.
The Bank of Finland's Q2 2025 payment statistics reveal that contactless card payments surpassed chip and magnetic stripe payments in value for the first time this year, with contactless transactions rising 8% to 431 million and their value increasing 23% to EUR 8.4 billion. Overall, Finnish payment cards were used for 652 million payments, totaling a record EUR 19.7 billion. Remote card payments and credit transfers showed significant growth in value, despite a decline in transaction numbers for credit transfers.
Bolivia's Ministry of Finance clarified that the Gestora Pública de la Seguridad Social de Largo Plazo invests in publicly offered financial instruments, not government loans, countering claims of funding the fiscal deficit. The portfolio is diversified, with 36.7% in bonds from the General Treasury and Central Bank, and 63.3% in various sectors and international investments, achieving a 4.4% return in August 2025. Governance includes oversight by the Gestora’s Investment Committee, ensuring transparency and no government intervention.
New Zealand's Department of Internal Affairs has clarified obligations for hotels offering currency exchange under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. As "reporting entities," they must comply with AML/CFT requirements for transactions over NZD 1,000, including due diligence and reporting. The guidance mandates risk-based procedures, suspicious activity reports within three days, and registration on the Financial Service Providers Register.
The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority reported a 40% increase in sales of non-exchange-traded investment products in 2024, totaling HKD 6,073 billion. Market participation expanded with 414 firms involved, and structured products remained the largest category at HKD 2,567 billion. Online distribution rose to 17% of total transactions, with collective investment schemes dominating online sales.
The Hong Kong Securities and Futures Commission suspended Chow Tsz Lam, former responsible officer at Agg. Asset Management Limited, for 12 months due to fund management failures. Agg invested up to 100% of a fund's assets in debentures linked to its sole shareholder, failing to manage conflicts of interest and fund risks. The SFC noted Chow's cooperation and lower responsibility level in determining the sanction.
The Financial Services Regulatory Authority of Ontario has levied penalties of CAD 133,500 on Daniel George Gordon and CAD 150,000 on Gordon Wealth Management Limited for breaches of Ontario’s Insurance Act. Violations include coercion to secure insurance business, providing false information to FSRA, and failing to maintain required insurance. The penalties follow a Notice of Dismissal by the Financial Services Tribunal and its Reasons for Decision in Gordon v CEO of FSRA.
The Slovenia Insurance Supervision Agency announced a session at its annual conference featuring Dr. Enej Kuščer discussing the impact of AI, multi-omics, and digital twins on the longevity economy and insurance. The session will explore how advancements in drug discovery and diagnostics can enhance longevity modelling and risk prediction, with potential insurance applications in personalised pricing and preventive measures.
The Slovenia Insurance Supervision Agency released a briefing on bancassurance as a growth channel for banks and insurers, projecting market expansion in Europe, the Middle East, and Africa from USD 652 billion in 2024 to nearly USD 857 billion by 2030. Growth is attributed to customer demand for digital services, with strategic benefits like stable fee income for banks and cost-effective customer acquisition for insurers. Technology, including API integration and AI-driven personalization, enhances service offerings.
The Slovenia Insurance Supervision Agency previewed a presentation for its annual conference addressing longevity risk, decumulation, and annuity affordability in Slovenia's second pension pillar. Dr. Vida Šeme Hočevar will discuss risks and design frictions, including fixed annuities and tax implications, and propose solutions like varied annuity types and tax neutrality. The overview serves as an advance outline for the 11 September session.
The Bank of France, with IEDOM-IEOM and the National Agency for the Fight Against Illiteracy, is expanding its programme to support the National Days of Action Against Illiteracy from 8 to 15 September 2025. The initiative includes free workshops on budgeting, payment methods, and scam awareness across France and its territories, using educational tools and resources. A closing event on 30 September will feature workshops and testimonials to highlight financial education's role in combating illiteracy.
The Securities and Futures Commission and the Hong Kong Monetary Authority reported record sales and increased market participation in non-exchange-traded investment products for 2024, with transaction amounts rising 40% year-on-year to HKD 6,073 billion. Structured products led at 42% of total transactions, followed by collective investment schemes and debt securities. Online sales grew to 17% of total transactions, with 104 firms participating.
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing messages linked to The Hongkong and Shanghai Banking Corporation Limited and The Bank of New York Mellon. The HKMA emphasized that banks will not request sensitive information via SMS, email, or embedded hyperlinks. Affected individuals should contact their bank and report incidents to the Hong Kong Police Force.
The Financial Action Task Force of Latin America (GAFILAT) held a Regional Typologies Workshop in Panama City from 19–21 August 2025 to share experiences on identifying money laundering typologies and predicate offences. Discussions included threats like drug trafficking, corruption, and illicit virtual asset use, with participation from public and private sectors. International organizations and experts from several Latin American countries contributed, enhancing regional cooperation.
The Cyprus Securities and Exchange Commission announced fees for financial entities under Regulation (EU) 2022/2554 on digital operational resilience, with annual supervision fees ranging from EUR 2,000 to EUR 20,000 and a EUR 20,000 fee for Threat-Based Penetration Testing. Fee reductions were made for micro and small enterprises following stakeholder feedback. Entities must declare their category to CySEC in October 2025, with pro-rata fees for the year due by 31 December 2025.
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of four firms, including Oasis Wealth Management Ltd and Viverno Markets Ltd, under CySEC Directive DI87-07. Despite the membership loss, clients retain rights to compensation for prior investment operations if conditions are met. This action follows CySEC's withdrawal of various authorisations from these firms.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Lu Wei and Wang Lei as Board members of JSC Altyn Bank, a subsidiary of China CITIC Bank Corporation Limited.
The Agency for Regulation and Development of the Financial Market of Kazakhstan and the Hungarian National Bank discussed expanding banking cooperation during Astana Finance Days. Key topics included regulatory challenges from digital assets, cryptocurrencies, and distributed ledger technologies. A memorandum of understanding was signed to enhance cross-border banking supervision in accordance with Basel Committee standards.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan appointed Timur Abilkasymov as First Deputy Chair. Previously, Abilkasymov was Deputy Chair, focusing on bank supervision, supervisory technology, and drafting a new banking law to enhance system resilience.
The Agency for Regulation and Development of the Financial Market of Kazakhstan has adopted rules for investing and valuing endowment fund assets, including concentration limits and permitted financial instruments. Effective 31 August 2025, the resolution implements the 30 June 2025 law on target capital funds, introducing a 30% cap on investments from a single issuer and specifying eligible instruments. It also sets management rules and asset valuation methodologies using data from KASE, AIX, Bloomberg, Reuters, or independent valuers.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Zhanbota Temirgalievich Bekenov as head of the management board in the banking sector.
The Governor of the Qatar Central Bank, H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani, met with Mr. Sopnendu Mohanty, CEO of the Global Finance & Technology Network, to discuss recent developments in global finance and investment.
The Union of Arab Securities Authorities, in collaboration with Saudi Arabia’s Capital Market Authority and the Financial Academy, conducted a training program in Riyadh on September 2–3, focusing on the development of the sukuk and debt instruments market, including governance, investment performance, and digital innovations like blockchain-based sukuk.
The Central Bank of the Philippines has alerted Authorized Agent Banks and their foreign exchange subsidiaries about the loss of Bangko Sentral Registration Document No. A018251-DE, related to SYRINX HOLDINGS B.V.'s investment in CCL Label Industries Philippines Inc. The document should not be accepted for foreign exchange transactions, as a replacement is pending under Section 38 of the Manual of Regulations on Foreign Exchange Transactions.