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2025-08-29•Serbia•National Bank of Serbia
Global Finance magazine awarded National Bank of Serbia Governor Jorgovanka Tabakovic an “A-” rating in its Central Banker Report Cards 2025, ranking her among the highest-rated governors. The ratings evaluate performance in areas such as inflation control, economic growth, currency stability, interest rate management, and political independence. The full list of assessments will be available in Global Finance's October editions.
Other
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2025-08-29•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has initiated Public Consultation SNC 02/25 on amendments to accounting regulations due to Technical Pronouncement CPC 51, aligned with IFRS 18. The proposal mandates listed companies to apply Technical Pronouncements Review Document No. 28 from 1 January 2027. CVM clarified no regulatory impact assessment was conducted as the changes update references without altering substantive standards.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-08-29•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia has issued a policy document detailing registration procedures and professionalism requirements for registered adjusters, enhancing business operations and customer interactions. Key updates include refined fit and proper criteria for key responsible persons and a mandate that adjusting work be performed solely by full-time employees of registered adjusters. The policy document is effective from 29 August 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-29•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the IMF Special Data Dissemination Standard (SDDS) report detailing Malaysia's international reserves and foreign currency liquidity as of end-July 2025. Official reserve assets stood at USD121,278.1 million, with pre-determined short-term outflows totaling USD14,648.6 million. The report highlights net short forward positions of USD21,171.5 million and excludes projected foreign currency inflows from the SDDS outflow coverage.
Data & statisticsBalance of payments and other external statistics
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2025-08-29•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay approved a new security framework for SIPAP that includes a fraud reduction strategy for system endpoints and a monitoring standard aligned with BIS best practices. The rules are mandatory for all SIPAP participants, with particular focus on instant payments and RTGS operations.
Policy & regulationRules & requirementsPayments and payment systemsFraud and scams
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2025-08-29•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has revised its rules for Payment Initiation Service Providers in the Instant Payment System. The update allows fintechs to act as PISPs and offer merchants transfer-based payment collection services through the SPI. It also refreshes authorization, operational, security and cybersecurity requirements for those providers.
Policy & regulationRules & requirementsLicensing framework and processPayments and payment systems
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2025-08-29•Zambia•Bank of Zambia
The Bank of Zambia updated its draft Currency Directives of 2025 to reinforce the Kwacha as the sole legal tender for domestic transactions, addressing risks from foreign currency use. These measures are part of a broader foreign exchange market reform agenda under the Bank of Zambia Act, 2022. The Bank plans phased implementation with scheduled exemptions to mitigate economic disruption, while reviewing performance and implementation challenges.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-08-29•Global•World Federation of Exchanges
The World Federation of Exchanges is soliciting research papers on clearing and derivatives for its 42nd Annual Clearing and Derivatives Conference, WFEClear 2026, in Toronto. Topics include collateral management, derivatives in emerging markets, clearing structures, market resilience, and the impact of new technologies, with submissions due by 22 October 2025.
ResearchCCPsMarket infrastructure
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2025-08-29•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji issued a warning about a video falsely depicting the Governor as endorsing an investment scheme, fabricated using artificial intelligence, and clarified that it does not support any automatic trading platforms. The bank advised the public to verify information sources, remain vigilant against scams, and report suspicious activities.
SupervisionAlertsFraud and scams
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2025-08-29•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren criticized the July 2025 Personal Consumption Expenditures data, highlighting rising inflation and increased costs for essentials despite President Trump's cost-lowering promises. She attributed these issues to tariffs, tax cuts, and immigration policies, and warned that an "illegal attempt" to control the Federal Reserve could further elevate borrowing costs and prices.
OtherMonetary dataMonetary policy decisions and developments
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2025-08-29•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Warren, Schumer, and Booker urged FHFA Director Bill Pulte to use FHFA powers to reduce housing costs and stop support for Trump's alleged Federal Reserve control campaign. Their letter noted a 3% annual house price increase and a 41% median rent rise since 2020, proposing eight actions, including assessing Fannie Mae and Freddie Mac reprivatisation impacts and boosting affordable housing support.
Policy & regulationReform agendas & prioritiesOther
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2025-08-29•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democratic U.S. Senate Banking Committee members asked Chairman Tim Scott to delay the September 4 hearing on Dr. Stephen Miran's Federal Reserve Board nomination and pause all nominations. They seek an oversight hearing on the legal and economic implications of President Trump's attempted removal of Federal Reserve Governor Lisa Cook, citing concerns over central bank independence and potential economic impacts.
OtherLeadership change and appointments
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2025-08-29•Russia•Central Bank of Russia
The Central Bank of Russia's Q2 2025 review shows non-governmental pension funds' portfolios nearing RUB 9 trillion, with pension reserves up 7.3% to RUB 2.5 trillion due to increased investment income and inflows. Pension savings rose 3.2% to RUB 3.5 trillion, with average returns of 15.5% on savings and 19% on reserves. NPFs increased holdings in fixed-coupon federal government bonds and equities, anticipating price growth amid a rate decline.
Data & statisticsOther
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2025-08-29•Russia•Central Bank of Russia
The Central Bank of Russia approved amendments allowing the State Corporation Deposit Insurance Agency to independently manage INVESTTORGBANK's rehabilitation, with TRANSKAPITALBANK ceasing its investor role. INVESTTORGBANK will continue to meet its client obligations.
Policy & regulationRules & requirementsRecovery and resolution
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2025-08-29•Russia•Central Bank of Russia
The Central Bank of Russia has released the FINOPOLIS 2025 programme for the forum on innovative financial technologies from 8–10 October 2025 in Sirius Federal Territory. The event will feature five plenary discussions, including one on national digital infrastructure with Governor Elvira Nabiullina, and about 30 thematic sessions on topics like biometrics, AI, and cryptocurrencies. The programme also includes the Finopolis.365 Youth Programme finale and a session on forecasting long-term financial system developments.
Policy & regulationImplementation, projects & pilotsFintech and insurtechArtificial intelligence
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2025-08-29•Kenya•National Treasury (Kenya)
Kenya’s National Treasury, represented by Principal Secretary Dr. Chris Kiptoo, participated in the 25th Eastern and Southern Africa Anti-Money Laundering Group Council of Ministers Meeting in Addis Ababa. The meeting emphasized the Council's strategic leadership in anti-money laundering and counter-terrorist financing, aligning with Financial Action Task Force standards.
OtherAML and CFTDomestic cooperation
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2025-08-29•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services reported that Chairman French Hill and Representative Vicente Gonzalez led a bipartisan delegation to Italy, Switzerland, and Germany to discuss financial services policy, regulatory oversight, and new product development. Key topics included digital assets, tokenization, monetary policy, and transatlantic security amid Russia's invasion of Ukraine. The delegation also updated European counterparts on U.S. digital asset policy following stablecoin legislation.
Policy & regulationCooperationCross-border cooperation
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2025-08-29•Pakistan•State Bank of Pakistan
The State Bank of Pakistan has designated National Bank of Pakistan, United Bank Limited, and Habib Bank Limited as Domestic Systemically Important Banks (D-SIBs) for 2025, requiring enhanced supervision and additional Common Equity Tier 1 (CET-1) capital. National Bank of Pakistan must hold an additional 2.5% CET-1, while United Bank Limited and Habib Bank Limited must each hold an additional 1.5% CET-1. These requirements, effective March 31, 2026, also apply to branches of Global-Systemically Important Banks in Pakistan.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-08-29•United States•Federal Deposit Insurance Corporation
The FDIC has revised its Consumer Compliance Examination Manual to assess discrimination under the Equal Credit Opportunity Act and the Fair Housing Act solely through evidence of disparate treatment. This update, for all FDIC-supervised financial institutions, removes references to disparate impact in Sections 1.1, 2.1, and 4.1 of Section IV and Section VII-1.1. A redline document highlights all changes.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-08-29•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released its fourth-quarter 2025 Community Reinvestment Act (CRA) examination schedule, fulfilling the requirement to publish this list at least 30 days before the quarter begins. Examinations are determined by asset size and CRA rating, with limits on frequency for smaller institutions. The schedule may change due to resource demands or application-related examinations, and public comments on institutions are encouraged.
SupervisionReviews, inspections & stress testsOther
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2025-08-29•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released a list of administrative enforcement orders from July 2025, including 10 safety and soundness orders. These comprised seven terminations of consent orders, two prohibitions, and one combined prohibition and order to pay. No administrative hearings are scheduled for September 2025.
EnforcementInvestigations & enforcement actionsOther
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2025-08-29•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority and the Ministry of Youth and Sports launched the "Y-Champions" competition via the FRA's iInvest platform to engage youth in creating content on safe non-banking financial activities and fraud prevention. This initiative is part of the National Strategy for Non-banking Financial Awareness and Culture (2022–2026). The FRA also highlighted recent consumer protection measures, including publishing lists of licensed and non-compliant entities and establishing a reporting channel for unlicensed activities.
Financial literacy & educationFinancial literacy and education
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2025-08-29•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority hosted a meeting with the General Authority for the Suez Canal Economic Zone to discuss the development of a voluntary carbon market. Key topics included regulatory rules, a platform for carbon-emissions reduction projects, and the issuance and trading of carbon certificates. The Suez Canal Economic Zone Authority shared its sustainability strategy and initiatives for sustainable development.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-08-29•Mauritius•Bank of Mauritius
The Bank of Mauritius released clarifications on its RFP for a Privileged Access Management tool, confirming deployment must be agentless and on-premises, with support for cloud environments. Mandatory requirements include eliminating hardcoded credentials, just-in-time privileges, and fine-grained access controls. Bidders must provide hardware and virtual machines, with training, MFA, and other elements open for proposal.
Institutional developmentProcurement
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2025-08-29•Mauritius•Bank of Mauritius
Gérard Sanspeur has resigned as Second Deputy Governor of the Bank of Mauritius, effective immediately on 29 August 2025. The resignation was submitted to the President of the Republic, Dharambeer Gokhool.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-29•United States•Federal Reserve Board
The Federal Reserve Board has finalized firm-specific common equity tier 1 (CET1) capital requirements for large banks, effective 1 October, based on annual stress test results. These requirements include a 4.5% minimum, a stress capital buffer (SCB) of at least 2.5%, and an additional surcharge for the largest banks. Morgan Stanley's SCB is pending review, with a decision expected by 30 September 2025.
SupervisionAuthorisations & approvalsCapital adequacyStress testing
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2025-08-29•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets adopted measures affecting capital markets infrastructure, issuer registry data, municipal bond offerings, and consumer credit enforcement. Actions include restoring MONTEC’s securities register, approving Sireți village's bond prospectus, and mandating refunds for breaches by non-bank credit providers. The Commission also rejected requests from INTACT ASIGURARI GENERALE and OCN “FLEX FINANCIAL” related to prior decisions.
Policy & regulationRules & requirementsConsumer and investor protectionSupervision process and methodologies
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2025-08-29•Canada•British Columbia Securities Commission
The British Columbia Securities Commission charged Frederick Johnathon Nielsen with fraud, theft, and identity fraud under the Criminal Code and Securities Act. Charges include fraud and theft over CAD 5,000, identity fraud to circumvent a commission order, and failure to comply with a commission order. Nielsen was released on bail after a Vancouver Provincial Court hearing, with the case stemming from a commission investigation assisted by the West Vancouver Police Department.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-29•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) filed a complaint with the Public Prosecutor’s Office against Northern Trust SpA for allegedly misrepresenting itself as CMF-supervised while offering investments via messaging apps and social media. The CMF's investigation revealed NTSpA provided unauthorized investment advisory services and falsely claimed management by the CMF and the Central Bank of Chile. The complaint includes allegations of fraud and falsification, following the CMF's prior action listing the entity as unsupervised.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityFraud and scams
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2025-08-29•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's report on Nidaros Sparebank identifies deficiencies in its credit framework, loss provisioning routines, and corporate lending criteria. It highlights weaknesses in retail lending assessments, credit risk monitoring, and IFRS 9 expected credit loss models, alongside breaches of liquidity-related limits. Finanstilsynet requests board minutes from the meeting discussing the report and asks the bank to forward the report to its auditor.
SupervisionReviews, inspections & stress testsCredit risk
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2025-08-29•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) announced a reduction in assessment rates for OCC-regulated institutions effective September 30, 2025. General assessment rates decrease by 30% for assets up to USD 40 billion and by 22% for assets above USD 40 billion, with similar reductions in independent trust and credit card fee schedules. The OCC attributes this fifth reduction since 2017 to operating efficiencies and modernization.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-08-29•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) held a symposium to discuss key tasks for the capital market during the 15th Five-Year Plan, focusing on institutional reforms, legal frameworks, and attracting long-term funding. Proposals included enhancing the multi-tier capital market system, improving listed company quality, and expanding institutional opening-up. The CSRC aims to align with central government decisions to drive comprehensive investment and financing reforms.
Policy & regulationReform agendas & prioritiesMarket development
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2025-08-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Regional Branch 13 reported over 7% credit growth in Dong Thap and Tay Ninh since early 2025, with outstanding credit surpassing VND 500 trillion by August. Lending focused on production and business, with priority areas seeing an 11.11% increase, while non-performing loans remained below 3%. The branch directed banks to enhance support for government-backed credit programs and plans to issue assessments and monitor compliance.
SupervisionSupervision approach, priorities & toolkitLendingAsset quality
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2025-08-29•Argentina•Argentina Securities Commission (CNV)
Argentina's Securities Commission (CNV) met with senior U.S. Embassy representatives to discuss tokenisation developments and the CNV's regulatory framework. The meeting, involving CNV President Roberto E. Silva and board director Manuel Calderón, aimed to promote investment in Argentina through capital markets.
Policy & regulationCooperationTokenization
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2025-08-29•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva announced the expansion of the CNV Tokenization Regime at a virtual event, broadening digital representation to include shares, negotiable obligations, and CEDEARs. The event, hosted by the Argentine Fintech Chamber, included discussions on the rule's implementation with contributions from CNV and industry experts.
Policy & regulationRules & requirementsTokenization
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2025-08-29•Argentina•Argentina Superintendency of Insurance
Argentina Superintendency of Insurance Superintendent Guillermo Plate opened the 20th National Insurance Forum, emphasizing market modernization through transparency, intelligent supervision, and enhanced policyholder protection. Plate highlighted the crucial role of insurance advisers (PAS) in fostering trust. The forum featured panels on AI, digital marketing, sustainability, financial education, and SME development, along with tools like the Executive Insurance Programme for PAS professionalization.
SupervisionSupervision approach, priorities & toolkitMarket development
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2025-08-29•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance participated in a workshop hosted by the Central Bank of the Argentine Republic on preventing the financing of weapons of mass destruction proliferation. The event, attended by over 400 participants, focused on strategies aligned with Financial Action Task Force recommendations and included contributions from international experts and officials.
Policy & regulationCooperationAML and CFT
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2025-08-29•South Korea•Bank of Korea
The Bank of Korea reported that North Korea's real annual gross domestic product increased by 3.7% in 2024.
Data & statisticsEconomic data and developments
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2025-08-29•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released an overview of 2025 Q2 financial report filings, noting all required issuers filed except Sino Tactful Co., Ltd. Aggregate results for the first half of 2025 showed a 15.87% increase in operating revenue to TWD 22.03 trillion and an 8.16% rise in pre-tax profit to TWD 2.09 trillion, driven by sectors like semiconductors and electronics. Finance and insurance companies were excluded due to a later filing deadline.
SupervisionRegulatory reportingActivity and performance reporting
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2025-08-29•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank (DNB) published the second article in a series examining how inflation impacts households, highlighting uneven effects on purchasing power, wages, and debt. The analysis notes that while Dutch inflation nears 2% after a 2022 peak, full wage adjustment to price increases typically takes five years. DNB also discusses sectoral wage differences, inflation's impact on wealth and debt, and the importance of diversification in financial protection.
Research
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2025-08-28•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved prospectuses for trading three secured, non-convertible bond issues by Capital Management REIT, ELG AD, and Solar Logistic AD, and registered these securities. Additionally, it registered a new share issue by Glenmoor Capital REIT, approved a board member at Invest Fund Management AD, and added Bayena Ventures AD to the register of alternative investment fund managers.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-08-28•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission, in collaboration with the Catholic University of Angola, conducted a workshop on the role of financial influencers in the capital market. The event emphasized the importance of transparency and investor protection, acknowledging the potential of influencers to enhance financial education when adhering to best practices.
Financial literacy & educationFinancial literacy and education
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2025-08-28•Ghana•Ghana National Insurance Commission
Ghana's National Insurance Commission reported insurers paid GHS 3.3 billion in claims in 2024, with life insurers contributing GHS 1.5 billion and non-life insurers GHS 1.9 billion. The NIC plans to release claims-payment data regularly to address public concerns over payment delays. The "reset agenda" aims to build trust, expand coverage, and position Ghana as an African insurance hub, with initiatives for inclusive products, disaster-related cover, and stricter action against unethical practices.
Policy & regulationReform agendas & prioritiesClaims management
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2025-08-28•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency, led by Superintendent Francisco A. Torres, ensures workers meeting contribution requirements receive a minimum pension via the Social Security Solidarity Fund. Torres prioritized expanding pension coverage, improving future outcomes, and ensuring fund sustainability amid demographic changes. Proposals include lowering eligibility thresholds and securing resources to address population aging and increased life expectancy.
Policy & regulationReform agendas & priorities
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2025-08-28•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama opened the XXIII Banking and Trust Update Conference, themed “Financial Evolution: AI and the new legal paradigm.” Superintendent Milton Ayón Wong emphasized the event's role in aligning the banking and trust sector with international standards. The agenda covers fiduciary responsibility, AI's impact on banking, antifraud forensic auditing, and the legal implications of Panama's constituent process.
SupervisionCooperationArtificial intelligenceCorporate governance
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2025-08-28•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has initiated a public consultation on draft amendments to rules for recording securities issuances placed with pre-identified acquirers, applicable when securities are not issued via a public offer or admitted to trading. This follows the adoption of the draft at its 140th session.
Policy & regulationRules & requirementsOther
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2025-08-28•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has initiated a public consultation on draft rules to enhance the framework for registering securities issuers and maintaining their register. The draft was adopted at the authority's 140th session under the Capital Market Law.
Policy & regulationRules & requirementsOther
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2025-08-28•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has initiated a public consultation on draft amendments regarding the recording of closed offerings of securities not issued through a public offer or admitted to trading. Stakeholders are invited to provide comments and suggestions.
Policy & regulationRules & requirementsOther
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2025-08-28•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg's August 2025 consumer survey revealed mixed household sentiment, with the composite consumer confidence indicator slightly improving to -9 from -10 in July. This was driven by a strong rebound in households' assessment of their past financial situation, despite slight easing in future financial expectations and unchanged views on the general economic situation. Intentions to make major purchases weakened.
Data & statisticsEconomic data and developments
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority fined Sultan Center for Foodstuffs Company and several executives, including the chairman, vice chairman, CEO, CFO, and auditor RSM Al-Bazi & Partners, for breaches of listing rules, corporate governance, and securities activities. Violations involved non-compliance with International Accounting Standard 36 and IFRS 13 in impairment assessment and fair value measurement for an investment in an associate. Penalties totaled KWD 5,000 for the company, with additional fines for individuals ranging from KWD 2,000 to KWD 3,000.
EnforcementInvestigations & enforcement actionsAccounting and financial reportingCorporate governance
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority issued Disciplinary Board Resolution No. 15/2025, imposing financial penalties on Al‑Masala Real Estate Company, its board members, executives, and external auditors for breaches of listing, corporate governance, International Accounting Standards, and securities activities regulations. Al‑Masala's non-compliance with International Accounting Standard 24 resulted in KD 30,000 in penalties for the company and KD 10,000 fines for the chairman and four board members. Auditors KPMG – Safi Al‑Mutawa & Partners and Al‑Bazi & Partners (RSM) were also fined.
EnforcementInvestigations & enforcement actionsAuditingCorporate governance
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority fined Kuwait and Middle East Financial Investment Company (KMEFIC) and senior individuals for breaches of business ethics and corporate governance. KMEFIC was fined KD 5,000 for a non-compliant call recording system, while the chairman and board members faced fines for oversight failures. The former CEO and a senior financial manager were also fined for non-compliance with internal policies.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority issued Disciplinary Board Resolution No. 87/2024, imposing a KWD 10,000 fine on Arzan Financial Group Company for breaches of Articles 5-1 and 5-12 of Chapter Five of Module Eleven of the Executive Bylaws to Law No. 7 of 2010. The violations pertain to rules governing dealing in securities.
EnforcementSanctions & designations
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority fined Sharq Investment Company for breaches of the Executive Bylaws to Law No. 7 of 2010, including failures in managing conflicts of interest and employee trading risks. Violations involved inadequate measures to reduce conflicts between customer and employee transactions, excessive trading in client portfolios, and deficiencies in recording and retaining client orders. Penalties totaled KD 31,000 across multiple violations.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-08-28•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority issued a warning to Gulf Securities Custody Company for breaching securities dealing rules concerning mortgaged assets in execution proceedings. Violations included failure to sign mortgages on company-owned assets and inadequate notification to mortgaged creditors, leading to the cancellation of an auction for unlisted shares.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-08-28•Ghana•Ghana National Insurance Commission
The Ghana National Insurance Commission (NIC) received a report on the country's low insurance penetration rate of about 1%. It aims to guide policy and stakeholder actions to expand coverage, improve public trust, and enhance accessibility, focusing on inclusive insurance. Key issues include avoidance of compulsory motor insurance, industry leakages, and the need for improved reporting structures, alongside a call for mandatory Professional Indemnity Insurance for accountability and consumer protection.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-08-28•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua has launched an on-site solar energy system at its Managua headquarters with a capacity of 885 kW. The installation includes 1,626 solar panels and safety features, supporting the bank's modernization efforts.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable finance
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2025-08-28•Denmark•National Bank of Denmark
The National Bank of Denmark's working paper reveals that while most Danish households do not significantly alter electricity consumption in response to price changes, nearly one-third reduce usage notably when prices rise, with a DKK 1 increase leading to an average 2.6% demand decrease. The study utilizes smart meter data to assess short-run price elasticity and examines variations in price responsiveness across socio-demographic groups.
ResearchClimate risk and sustainable finance
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2025-08-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has prohibited Keybridge Capital Limited and Yowie Group Limited from issuing reduced-content prospectuses for 12 months due to their failure to timely lodge required financial, directors’, and auditors’ reports. Until 6 August 2026, both companies must issue a full prospectus to raise funds from retail investors or meet other disclosure requirements. This restriction follows their breach of continuous disclosure and financial reporting obligations, and they may seek a review of ASIC’s decision in the Administrative Appeals Tribunal.
SupervisionInterventionsAccounting and financial reportingDisclosures
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2025-08-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled MWL Financial Services Pty Ltd's licence and banned its director, Nicholas Maikousis, for 10 years due to compliance failures and conflicts of interest with the Shield Master Fund. MWL used misleading practices, including false advice statements and undisclosed incentives. MWL must stay a member of the Australian Financial Complaints Authority and maintain insurance until August 2026.
EnforcementInvestigations & enforcement actions
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2025-08-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission and the Australian Prudential Regulation Authority released notes from two Superannuation CEO Roundtables, detailing discussions on governance, risk oversight, and expenditure practices. The roundtables, held in July 2025, included 16 superannuation CEO representatives from diverse industry sectors.
Policy & regulationCooperationCorporate governance
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2025-08-28•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority and the Australian Securities and Investments Commission released public notes from Superannuation CEO roundtables held in July 2025, attended by 16 superannuation trustee CEOs.
Policy & regulationCooperationOther
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2025-08-28•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority and the Australian Securities and Investments Commission released public notes from two Superannuation CEO roundtables held in July 2025, attended by 16 superannuation trustee CEOs.
Policy & regulationCooperationOther
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2025-08-28•Ghana•Ministry of Finance (Ghana)
Ghana's Ministry of Finance announced intensified gold sector reforms ahead of the 2026 AML/CFT evaluation by GIABA. Illegal mining and smuggling are significant risks, with the sector accounting for 64% of exports and 7% of GDP in early 2025. A coordinated response involving financial institutions, regulators, and law enforcement is urged to prevent potential grey-listing by the Financial Action Task Force.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-08-28•Latvia•Central Bank of Latvia
The Central Bank of Latvia's Supervision Committee has authorized FLOW SIA to provide crowdfunding services, entering it into the national Register of Crowdfunding Service Providers. FLOW SIA can facilitate loans and offer services like credit scoring and pricing suggestions under Regulation (EU) 2020/1503. The Central Bank maintains the national register, while the European Securities and Markets Authority oversees the EU-wide register.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-28•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported a EUR 154.5 million decrease in total deposits for July 2025, reversing a previous rise and reducing the annual growth rate to 6.5%. Total loans increased by EUR 74.9 million, raising the annual growth rate to 7.2%. Notably, deposits from Cyprus residents decreased by EUR 89.7 million, while loans to residents fell by EUR 42.7 million.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-08-28•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan issued an Investment Finance Services licence to Foremost Financial Services (Private) Limited and granted Instant Finance (Private) Limited prior permission for NBFC registration. These approvals, focused on digital lending models, aim to strengthen and diversify the NBFC sector and attract foreign investment. The sponsors of both entities have international operations in Indonesia, Mexico, and Nigeria.
SupervisionAuthorisations & approvalsLicence approval
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2025-08-28•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has launched an initiative to enhance corporatization by integrating digital company registration with strategic partnerships and public engagement. Collaborating with government ministries and digital banking platforms, it promotes incorporation for limited liability, improved governance, and better capital access. A targeted outreach program, including seminars and digital media, aims to raise awareness and address administrative barriers for informal sector entities.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2025-08-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) cancelled the Australian financial services licence of BDS Accounting Pty Ltd, effective 28 July 2025, due to unpaid industry funding levies outstanding for over 12 months. This action was taken under section 915B(3)(e) of the Corporations Act 2001. BDS Accounting, which held AFS Licence 489230 since December 2017, can seek a review of ASIC’s decision at the Administrative Review Tribunal.
SupervisionAuthorisations & approvalsCompliance
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2025-08-28•China•Central Bank of the Republic of China
The People's Bank of China and the Reserve Bank of New Zealand have renewed their bilateral local currency swap agreement, with a swap size of CNY 25 billion for a five-year term. This renewal, approved by the State Council, aims to enhance monetary and financial cooperation and support bilateral trade, investment, and financial market stability.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-08-28•Lithuania•Bank of Lithuania
The Bank of Lithuania's July 2025 data shows growth in deposits and lending by monetary financial institutions, with deposits rising by EUR 513.9 million and loans increasing by EUR 248.1 million. Household borrowing for house purchases and consumption loans saw notable increases, while average interest rates on new household loans rose to 5.14%. The average rate on new loans for non-financial corporations increased to 4.55%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-08-28•Portugal•Bank of Portugal
The Bank of Portugal released July 2025 statistics showing an 8.1% year-on-year increase in mortgage lending, while household deposits grew 4.9% year on year but continued to slow. Corporate lending growth eased to 3.5%, with notable growth in micro and small firms, and corporate deposits rose to EUR 70.6 billion, accelerating to 10.5% annual growth.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-28•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) published a Market Watch newsletter highlighting supervisory observations on corporate finance firms' handling of inside information under the UK Market Abuse Regulation (UK MAR). Key issues include weak governance in market soundings, risks of unlawful disclosures, and inadequate personal account dealing controls. The FCA plans to continue reviewing UK MAR systems and may expand into governance and compliance, with potential sanctions for significant failings.
SupervisionReviews, inspections & stress testsMarket abuseSupervision process and methodologies
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2025-08-28•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-486 regarding the 500-peso metallic coin.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-08-28•Colombia•Central Bank of Colombia
The Central Bank of Colombia released an Operational and Services External Circular regarding the COP 500 coin, detailed in Circular DTE-192, Subject 43.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-08-28•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission revoked Amber Hill Capital Limited's licence and permanently banned its former senior management, Neo Ng Yu and Simon Ng She Chun, for facilitating client fund misappropriation and dishonest conduct. AHCL managed a Cayman fund's portfolio, where Neo Ng orchestrated the misappropriation of approximately USD 154 million through a sub-fund. The SFC found AHCL provided false information and fabricated documents, overstating the sub-fund's cash position by up to USD 451 million.
EnforcementInvestigations & enforcement actions
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2025-08-28•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) revoked Nerico Brothers Limited's (NBL) licence and permanently banned its director, Jerff Lee Cheuk Fung, from all regulated activities due to misuse of client funds and providing false information. NBL misappropriated over USD 68 million of client funds and facilitated a larger scheme misappropriating approximately USD 154 million. The SFC attributed the misconduct to Lee, who knowingly gave false or misleading answers.
EnforcementInvestigations & enforcement actions
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2025-08-28•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has fined Deutsche Bank Aktiengesellschaft HKD 23.8 million for regulatory breaches, including client fee overcharging and incorrect product risk ratings. The breaches, occurring between 2012 and 2023, involved misvaluations and nondisclosure of investment banking relationships. The SFC considered Deutsche Bank's remedial actions and cooperation in determining the sanctions.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-08-28•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has initiated a consultation on its Draft Ontario Private Passenger Vehicles Annual Review to assess industry costs and trends for future auto insurance rate setting. The review analyzes data up to December 31, 2024, including changes in insured vehicles, premiums, loss costs, and the impact of legislative reforms and economic factors. FSRA plans to consult annually and update benchmarks biannually to aid rate approval decisions.
Policy & regulationImplementation, projects & pilotsSupervisory data
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2025-08-28•Slovenia•Slovenia Insurance Supervision Agency
Jeffery Yong, Chief Advisor at the Bank for International Settlements’ Financial Stability Institute, will address the Slovenia Insurance Supervision Agency's conference on the impact of large technology firms and AI on insurance. The agency notes the rise of digital insurance marketplaces and AI-driven operational changes, highlighting efficiency gains and new risks such as reliance on major service providers and complex regulatory challenges.
SupervisionCooperationFintech and insurtechArtificial intelligence
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2025-08-28•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency announced a lecture by Professor Katja Zajc Kejžar at its annual conference, focusing on geopolitical realignments affecting trade and investment. The session will address the impact of rising US tariffs and the erosion of the World Trade Organization’s principles, advocating for enhanced risk management and financial mechanisms to mitigate political and economic uncertainties.
OtherGeopolitical risk
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2025-08-28•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency's conference in Ljubljana will feature KU Leuven professor Yves Stevens discussing demographic trends and longevity's impact on pension policy. Stevens will examine how countries form unique "pension identities" shaped by economic, social, and cultural factors. He chairs the Occupational Pensions Commission at Belgium’s Financial Services and Markets Authority and is president of the International Network of Pension Researchers.
Other
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2025-08-28•Australia•Reserve Bank of Australia
The Reserve Bank of Australia's Payments System Board reviewed operational resilience in clearing, settlement, and payments, noting limited progress in addressing ASX's operational resilience and risk management concerns, and emphasized the need for improved governance and risk culture. The Board also discussed system-wide payments resilience, global stablecoin growth, and welcomed the Government's proposed reforms for stored-value facilities, including stablecoins, under a regulatory regime.
Policy & regulationImplementation, projects & pilotsMarket infrastructureStablecoins
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2025-08-28•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about several websites and Telegram channels offering trading or investment services without authorization under Article 5 of Law 87(I)/2017. Investors are advised to verify the licensing status of firms on CySEC’s website before engaging in business.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-28•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 Kazakhstan announced legislative changes effective 31 August 2025. Penalty charges for early loan repayment will apply only to legal entities, while individuals can prepay loans without penalties. Early repayment can be full or partial, with options to adjust the loan term or monthly payments. Financial institutions may set conditions for early repayment, and borrowers should clarify recalculation methods and related procedures in advance.
Policy & regulationRules & requirementsLending
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2025-08-28•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on voluntary motor insurance (KASKO), detailing its coverage and differences from mandatory insurance. It outlines factors influencing KASKO premiums, such as insured risks, vehicle characteristics, and policyholder details, noting higher costs for hybrid and electric vehicles. It suggests cost-reduction strategies like deductibles and partial coverage while advising careful contract review.
Financial literacy & educationOther
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2025-08-28•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City's August Manufacturing Survey reported that Tenth District factory activity remained mostly unchanged, with future activity expectations indicating expansion. Shipments and new orders increased modestly, while production and employment were stable. Seasonal adjustment factors were updated using Census X-13 ARIMA-SEATS, leading to minor revisions in historical indexes.
Data & statisticsEconomic data and developments
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2025-08-28•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan revoked the banking licence of Joint-Stock Company “Eurasia Bank” due to non-compliance with minimum capital requirements and other legal breaches. The bank will undergo compulsory liquidation, with a liquidation commission appointed in accordance with Central Bank and banking laws.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-08-28•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission announced the winners of the OIC InsurTech Award 2025, which attracted over 400 applicants and awarded prizes exceeding THB 500,000. The competition featured categories for students and the general public, focusing on insurance literacy and accessibility innovations. The Commission aims to foster insurtech development and practical adoption through continued cross-sector collaboration.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-08-28•South Africa•South African Reserve Bank
The South African Reserve Bank's Working Paper WP/25/15 examines climate change and transition policies' impact on inflation and monetary policy in South Africa's coal-intensive economy. It finds a trade-off between climate damages and inflation, suggesting higher policy rates may be needed to achieve inflation targets. The paper also discusses the complementary roles of carbon taxation and green monetary policy tools, highlighting the need for careful calibration and exit strategies.
ResearchClimate risk and sustainable finance
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2025-08-28•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) published an explainer on its Integrity Programme, emphasizing its role in licensing, monitoring, and supervising Brazil's closed supplementary pension sector, which accounts for 11% of national GDP. The updated programme, aligned with the Office of the Comptroller General, focuses on governance, staff training, and integrity risk management. A public portal provides access to rules, the PREVIC Integrity Plan, and educational resources.
Policy & regulationGuidance & interpretationCorporate governance
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2025-08-28•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) has launched the 9th PREVIC Monograph Prize to encourage research proposals for enhancing Brazil’s closed supplementary pension system. Open to public employees, civil servants, and other professionals, submissions should address themes like communication, solvency, and governance. Winners receive monetary awards and publication opportunities, with proposals potentially influencing sector policies.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-28•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines and the National Bank of Cambodia concluded a bilateral meeting in Bohol, focusing on shared financial-sector priorities and cooperation. Key discussions included cross-border payment initiatives, AI application in financial services, and strategies to combat financial fraud. The meeting emphasized fostering financial innovation and improving payment system efficiency and interoperability.
Policy & regulationCooperationCross-border paymentsArtificial intelligence
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2025-08-28•Serbia•National Bank of Serbia
The National Bank of Serbia has issued a warning against engaging with Neo Tist, a company falsely presenting itself as a licensed bank. Neo Tist offers various financial services without central bank supervision, posing a risk of abuse. The central bank advises using only legally authorized institutions and reporting illegal banking activities to the Ministry of the Interior.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-28•Albania•Albania Financial Services Authority
The Albania Financial Services Authority warned about the illegal activities of TXEX, XUEXA, and GROKREXDUU, which lack licenses to provide investment services in Albania. These platforms falsely claim to offer crypto-asset "buy signals" and profit opportunities, but the Authority considers their operations fictitious and fraudulent, violating Law No. 66/2020. No entity is authorized to operate in these markets under current legislation.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-28•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission amended the consolidated list entry for Andrei Marchenko under the UK Chemical Weapons (Sanctions) (EU Exit) Regulations 2019, maintaining his designation and asset freeze. Businesses must verify relationships with designated persons, freeze relevant assets, and report findings to the States of Guernsey Policy & Resources Committee. Firms must also inform the Commission and provide detailed reports under Handbook Rule 12.37.
EnforcementSanctions & designationsSanctions list update
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2025-08-28•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay and the Inter-American Development Bank held the fifth BCP Economics Conference on Latin America's economic outlook and policy challenges. Discussions covered macroeconomics, financial stability, central bank foreign exchange intervention, trade policy and globalization. The event also included poster presentations from junior and senior research participants.
Other
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2025-08-28•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a minority press release on the bipartisan Renewing Opportunity in the American Dream to Housing Act (ROAD to Housing Act), aiming to lower housing costs by expanding supply and reducing regulatory barriers. Ranking Member Elizabeth Warren highlighted provisions like expanding local housing production tools, creating an Innovation Fund for cost-reduction initiatives, and addressing issues such as housing for homeless veterans and appraisal bias. Warren also noted the need for further action on private equity acquisitions of housing.
Policy & regulationRules & requirementsOther
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2025-08-28•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 1,075,000 penalty on British Columbia Lottery Corporation (BCLC) for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included failure to report suspicious transactions and inadequate policies for high-risk clients. BCLC, based in Kamloops, oversees gambling products in British Columbia.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-08-28•Russia•Central Bank of Russia
The Central Bank of Russia mandates new anti-fraud measures for online microloans, effective 1 September 2025, requiring microfinance organisations to verify that the disbursement account or card belongs to the borrower. Verification involves matching the applicant's details with the account holder's information, with exceptions for repeat borrowers using the same account or card. Applicants can expedite the process with a certified statement from the Federal Tax Service or set a self-ban on borrowing.
Policy & regulationRules & requirementsKYC