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2025-08-22•Albania•Albania Financial Services Authority
The Albania Financial Services Authority reported an 8.98% increase in gross written premiums to ALL 15,473 million and a 6.81% rise in insurance contracts for January–July 2025. Non-life insurance dominated with 91.34% of premiums, and compulsory insurance accounted for 60.25% of the market. Motor claims comprised 76.69% of total claims, with domestic MTPL and Green Card premiums showing significant growth.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-22•United Kingdom•Bank of England
The Bank of England released a staff working paper analyzing exchange rate responses to tariff actions using a new "tariff-shock" database. Findings indicate the US dollar appreciates with unilateral US tariffs but depreciates with foreign retaliation, as seen in the 6% fall against the euro following the 2 April 2025 US tariff announcement. The paper also notes unprecedented rises in long-maturity US Treasury yields in 2025 compared to 2018–2020.
ResearchTrading
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2025-08-22•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) proposes revoking Shawn Leonard Ruccia's mortgage agent level 2 licence and imposing a CAD 70,000 penalty, citing unsuitability under the Mortgage Brokerages, Lenders and Administrators Act, 2006. Allegations include failing to ensure mortgage suitability for borrowers, violating Ontario Regulation 187/08, and causing brokerage contraventions of Ontario Regulation 188/08. Ruccia has requested a hearing before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actionsFitness and propriety
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2025-08-22•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is consulting on proposed amendments to asset management company guidelines to allow additional compensation methods for incorrect investment unit pricing. The changes would enable AMCs to use their own funds for compensation and permit monetary compensation exceeding actual losses to account for opportunity costs.
Policy & regulationRules & requirementsOther
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2025-08-22•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has issued a warning regarding unlicensed digital asset business activities, which may include trading, exchange, brokerage, and advisory services. Engaging with unlicensed operators could expose users to legal risks, fraud, and money laundering. Investors are advised to verify providers against the SEC's lists of licensed operators and report suspicious activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-22•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC released the 2025 National Risk Assessment, detailing significant money laundering and terrorist financing threats. Reporting entities should integrate these findings into their risk-based approaches and compliance programs, enhancing due diligence and transaction monitoring. FINTRAC advises supplementing the assessment with additional risk information and strategic intelligence.
Policy & regulationGuidance & interpretationAML and CFT
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2025-08-22•Russia•Central Bank of Russia
The Central Bank of Russia's review of the microfinance market for 2025 Q2 shows expansion driven by affordable microloans, with the share of the most expensive loans falling below 50% for the first time. However, portfolio quality deteriorated, with increased overdue loans and signs of a debt spiral in repeated borrowing. To combat over-indebtedness, lenders must assess debt burden using official incomes, limit simultaneous expensive loans, and introduce a cooling-off period between loans.
Policy & regulationRules & requirementsLendingAsset quality
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2025-08-22•Russia•Central Bank of Russia
The Central Bank of Russia's quarterly monitoring shows improvement in compulsory motor third-party liability insurance across 37 regions. The Chechen Republic and Republic of Dagestan are no longer in the high-risk "red" zone. Regions in the medium-risk "yellow" zone decreased to 15 from 18, due to coordinated efforts by law enforcement, supervisory bodies, and insurers. Notably, CMTPLI policy issuance in Dagestan and Chechnya rose by 35% and 75%, respectively, with fewer complaints about policy inaccessibility.
SupervisionRisk monitoring & watch pointsOther
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2025-08-22•Russia•Central Bank of Russia
The Central Bank of Russia released a report evaluating money laundering and terrorist financing risks over five years, highlighting sectoral vulnerabilities. It uses a framework to rate risk levels across financial sectors, considering Financial Action Task Force recommendations and national assessments. The findings aim to enhance market awareness and guide measures to mitigate financial institutions' involvement in illegal activities.
SupervisionRisk monitoring & watch pointsAML and CFT
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2025-08-22•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority (FI) warned about investment tips in chat groups linked to pump-and-dump schemes, using misleading information to inflate share prices before selling for profit. FI noted the use of social media and well-known finance names to attract participants, often involving foreign shares on overseas exchanges. Consumers are urged to be cautious of unsolicited stock tips, and Swedish financial firms are advised to protect customers from such fraud.
SupervisionAlertsFraud and scams
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2025-08-22•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini's Annual Integrated Report 2024/25 highlights strategic refinements, including a 10% increase in the strategic weighting for "Clients and Stakeholder Perception" and a streamlined initiative portfolio. Key financial metrics include a 3.9% average annual inflation rate, a discount rate reduction to 7.0%, and a 16.5% rise in gross official reserves to E9.1 billion. The report also details progress in financial stability, payments, and fintech, including the launch of the Eswatini Payments Switch fast payments module and the publication of a Digital Lilangeni design paper.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskAccounting and financial reporting
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2025-08-22•Chile•Central Bank of Chile
The Central Bank of Chile celebrated its centenary with a ceremony highlighting its long-term policy priorities and institutional stability. Governor Rosanna Costa and President Gabriel Boric underscored the Bank's independence and decision-making structure. Commemorative medals were awarded to notable figures, including trade union leader Ricardo Iturra and Andrés Bianchi, president of the first autonomous Board.
Other
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2025-08-22•Moldova•National Commission for Financial Markets
The National Commission for Financial Markets adopted decisions on capital market and consumer protection, registering a non-cash share issue by Drumuri-Strășeni and taking enforcement actions against non-bank lenders OK CREDIT and CREDITBUN for abusive practices. It upheld a previous finding against Comerțbank for an abusive deposit term and lifted a restriction on Joint Stock Company Cicec after compliance. The Commission plans to seek a court ruling to nullify abusive surety clauses used by OK CREDIT.
EnforcementInvestigations & enforcement actionsLicence approval
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2025-08-22•Canada•British Columbia Securities Commission
The British Columbia Securities Commission fined Canada Jetlines Ltd. and its former executive chairman, Mark Morabito, CAD 100,000 for not disclosing a material change about flight operation delays. Jetlines failed to disclose the termination of a letter of intent to lease aircraft until March 2018, violating section 85 of British Columbia’s Securities Act. Morabito authorized or permitted the contravention under section 168.2(1).
EnforcementInvestigations & enforcement actionsDisclosures
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2025-08-22•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has revised the Securities Company Classification Evaluation Regulations, effective 22 August 2025, to enhance incentives and constraints for securities firms. The updated framework emphasizes risk management, compliance, and business development, with refined bonus indicators and expanded downgrade criteria. Following public consultation, the CSRC will focus on implementing these changes and further refining the supervisory framework.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-08-22•China•China Securities Regulatory Commission
The China Securities Regulatory Commission issued the Interim Provisions on the Management of Futures Companies’ Internet Marketing, effective 9 October 2025, to address risks and protect futures traders. The framework, with 18 articles, mandates end-to-end supervision, clearer governance, and stricter management of marketing personnel and third-party institutions. The regulator incorporated public feedback into the final provisions and will focus on implementation.
Policy & regulationRules & requirementsSales and distribution
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2025-08-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has issued a draft decree proposing a framework for licensing and supervising banking operations in Vietnam's international financial centre. Key changes include a streamlined one-step licensing process, reduced timelines, and tailored rules on foreign exchange management and anti-money laundering. The draft aims to accommodate international financial institutions, allowing member banks to engage in various activities and follow parent-bank policies for cross-border business.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam celebrated Banking Times as its sole official press organ, with Governor Nguyen Thi Hong emphasizing its role in communicating central bank policies. The Governor announced the reconstitution of the Banking Journal’s editorial board and urged innovation in content, digital technology use, and academic research. Banking Times received commendations for its communications efforts from various government bodies.
Institutional developmentMandate & organizational structureArtificial intelligence
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2025-08-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced a new administrative procedure for commercial banks and foreign bank branches to apply the internal ratings-based method, processed via its single-window unit. Issued under Circular 14/2025/TT-NHNN, it details application sequences, submission methods, required documents, processing timelines, and eligibility criteria. The decision is effective from 15 September 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-22•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced the first medium impact negotiable obligations placement under its public offering regime with automatic authorization, using a simplified process. The USD MEP-denominated issuance, with a 36-month tenor and a 9.5% fixed rate, reached the maximum amount of USD 7.0 million after offers exceeded USD 7.7 million. CNV Resolution 1047 established simplified regimes for securities offerings that may be exempt from certain obligations, allowing automatic CNV authorization.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-22•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission announced measures to bolster banking and insurance support for Fujian's role in developing a cross-Strait integrated development demonstration zone. The measures include 16 actions across four areas, such as enhancing financial services for Taiwan compatriots and strengthening financial supervision. The regulator will prioritize implementing these measures to support cross-Strait integration and the demonstration zone's construction.
Policy & regulationReform agendas & prioritiesMarket development
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2025-08-22•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) has issued a warning about phishing calls where fraudsters spoof FINMA's telephone number and impersonate its employees. FINMA emphasized that it typically does not contact private individuals by phone or email and advised recipients to verify callers, avoid responding to suspicious calls, and refrain from disclosing personal data.
SupervisionAlertsFraud and scams
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2025-08-22•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate (TPM) at 6.00% on 22 August 2025, extending the unchanged stance maintained at every meeting this year. It said softer recent inflation and trend indicators, alongside activity and demand evolving in line with potential, support inflation remaining within the target range in 2025 and converging toward the 3.5% target from 2026.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-08-22•India•Securities & Exchange Board of India
Amit Pradhan has been appointed Executive Director of the Securities and Exchange Board of India (SEBI) in Mumbai, overseeing the Legal Affairs and Prosecution & Settlement Departments. Pradhan brings nearly 28 years of experience in legal and regulatory affairs, having previously led SEBI’s Northern Regional Office and served in various capacities at SEBI, the Insolvency and Bankruptcy Board of India, and the Competition Commission of India.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-22•India•Securities & Exchange Board of India
The Securities and Exchange Board of India announced the appointment of Sanjay Chandrakant Purao as Executive Director in Mumbai, overseeing the Corporation Finance Investigation, Recovery and Refund, and Internal Inspection Departments. Purao, who joined SEBI in 1996, has extensive experience across various functions, including surveillance and market regulation.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-22•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) warned investors about fraudulent schemes on social media and messaging platforms claiming stock market access via Foreign Portfolio Investors (FPIs) or Foreign Institutional Investors (FIIs). SEBI emphasized these schemes are not endorsed by the authority and reminded investors that the FPI route is generally unavailable to resident Indians. Investors are urged to verify entity registration on SEBI’s website and use only SEBI-registered intermediaries' trading apps.
SupervisionAlertsFraud and scams
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2025-08-22•India•Securities & Exchange Board of India
Avneesh Pandey has been appointed as Executive Director of the Securities and Exchange Board of India, overseeing the Information Technology Department. Pandey brings nearly 30 years of experience in securities market regulation, focusing on IT initiatives, business process innovation, and cybersecurity.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-22•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan released July 2025 turnover statistics for the Taipei foreign exchange market, showing a total net trading volume of USD 1,057.5bn. Interbank trading dominated at USD 774.3bn, with third-currency pairs leading at USD 645.7bn. Foreign exchange swaps were the largest transaction type, accounting for USD 576.3bn.
Data & statisticsForeign exchange policy and markets
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2025-08-21•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission made decisions on capital markets, insurance intermediation, and fund management. Key actions include approving a EUR 15 million bond issue by Bulgar Czech Invest Holding AD, registering IPO Growth AD’s share issue, and updating the insurance brokers register. The Commission aligned supervisory practices with European Insurance and Occupational Pensions Authority Guidelines and requested more information from Metaltrust Investor Care EDPC about its alternative investment fund management registration.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-08-21•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) highlighted the strong performance of the pension system, noting that pension fund returns have outperformed other local investments over 20 years. Superintendent Francisco A. Torres emphasized that investment returns, rather than direct contributions, account for over half of the funds in individual pension accounts. SIPEN also addressed wage underreporting to the Social Security Treasury and promoted its educational and technological resources for pension members.
Financial literacy & education
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2025-08-21•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank has approved the Saudi Real Estate Refinance Company's launch of residential mortgage-backed securities in the domestic market. This initiative aims to enhance housing finance by converting real estate financing portfolios into securities, supporting securitisation framework development, and diversifying funding sources. The measure aligns with Saudi Vision 2030 and SAMA's mandate to ensure financial sector stability.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-08-21•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) issued a public notice clarifying that it does not collaborate with any company or media outlet in creating any work or document regarding its activities.
Policy & regulationGuidance & interpretationOther
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2025-08-21•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission registered Banco de Fomento Angola, S.A.'s public offering for 4,462,500 shares, representing 29.75% of its share capital, and approved the prospectus. The filing also seeks admission to trade 15,000,000 shares, representing 100% of the bank's share capital, on the stock exchange. The Commission clarified that registration is based on legality criteria and does not guarantee the information or the offer's viability.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-08-21•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority concluded the compulsory acquisition process by Aayan Leasing and Investment Company for Aayan Real Estate Company, with no shareholder participation in the offer. Aayan Leasing & Investment Company and its group now hold 54.78% of Aayan Real Estate Company’s shares.
SupervisionAuthorisations & approvals
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2025-08-21•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General alleging violations of Article 122 of Law No. 7 of 2010 related to trading in Oula Fuel shares. The report accuses parties of engaging in pre-coordinated transactions to artificially inflate market activity and prices, resulting in illegal gains. The conduct reportedly occurred between 5 January and 13 March 2025.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released its half-yearly Enforcement and Regulatory Update, highlighting a rise in misconduct reports affecting retail investors, linked to its consumer protection focus. The dataset includes 7,561 reports with 11,060 issues, mainly in financial services and retail investor categories. Key enforcement actions include a AUD 27 million penalty against AustralianSuper and actions against Macquarie Group entities and Choosi. ASIC will now publish misconduct data biannually to enhance transparency, emphasizing its role in reviewing reports to guide surveillance and consumer advisories.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-08-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) expanded its investment scam website takedown capability to include social media ads, aiming to intercept scams before consumers reach fraudulent sites. Since the initiative began, over 14,000 scam sites have been removed, with 130 sites taken down weekly. From July 2023 to June 2025, 8,330 fake investment platforms, 2,465 phishing links, and 3,015 cryptocurrency scams were removed. Investment scams remain the top scam type by losses, with AUD 945 million lost in 2024.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned South Australia-based accountant Jason Richard Poser after his conviction for aggravated theft. Poser stole funds from a client's self-managed superannuation funds (SMSFs). Effective 1 August 2025, the ban prohibits him from providing financial services or controlling a financial services business. Poser was previously an authorised representative of Super Guardian Pty Ltd. He may seek a review of ASIC's decision by the Administrative Review Tribunal.
EnforcementSanctions & designationsFraud and scams
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2025-08-21•Australia•Australian Securities & Investments Commission
ASIC has cancelled Chuuse Pty Ltd's Australian credit licence after the firm ceased credit activities. Effective 11 August 2025, the cancellation was under section 54(1)(b) of the National Consumer Credit Protection Act 2009. Chuuse can seek a review. Former director Darren Thomas Edden-Brown was banned in April 2023 for eight years due to lack of fitness, training, and competence.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-08-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) obtained urgent interim orders from the Federal Court to freeze the bank accounts of Gregory Raymond Cotton and First Mutual Private Equity Pty Ltd, where Cotton is the sole director. The orders prevent them from incurring new liabilities or transferring funds, as ASIC investigates the suspected misuse of approximately AUD 53 million intended for investment. Cotton was notified of the court hearing but did not attend.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-21•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) released its 2025–26 Corporate Plan, outlining strategic priorities for the next four years and immediate policy, supervision, and data focuses. Objectives include maintaining resilience, addressing risks, and enhancing effectiveness. Near-term priorities are cyber resilience, AI risk monitoring, compliance, and governance updates. APRA will publish results from its System Stress Test and Climate Vulnerability Assessment, scrutinize superannuation fund expenditures, and review investment governance. The plan emphasizes balancing financial safety with competition and efficiency, consulting on banking proportionality, and promoting affordable reinsurance access.
Institutional developmentGovernanceClimate risk and sustainable finance
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2025-08-21•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority's 2025–26 Corporate Plan outlines strategic priorities for the next four years, focusing on financial stability, operational resilience, and regulatory balance. Key initiatives include enhancing cyber resilience, monitoring AI and geopolitical risks, assessing compliance with Prudential Standard CPS 230, conducting a System Stress Test, and efforts to reduce regulatory burdens and improve governance standards.
Institutional developmentGovernanceClimate risk and sustainable finance
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2025-08-21•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market processed 3,098 document packages and delivered 1,100 administrative services in the first half of 2025, generating over UAH 19.2 million from 844 paid services. The Commission noted an increase in fee income from UAH 7 million in 2022 to UAH 18.5 million in 2024. The Single Window unit's role in managing applications and informing applicants of document review outcomes was emphasized.
Data & statisticsOther
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2025-08-21•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has directed the resumption of trading in NX Filtration N.V. following a press release by Teslin. The AFM clarified that the resumption was not requested by a market operator or investment firm and refuted media reports about transaction reversals, stating it cannot cancel transactions.
SupervisionInterventionsTrading
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2025-08-21•Costa Rica•Central Bank of Costa Rica
The Ministry of Finance and the Central Bank of Costa Rica reviewed the 2025 Financing Plan, adjusting the funding split between domestic and external sources amid pending legislative approval of budget support loans and eurobonds. The Ministry plans CRC 3.2 trillion in domestic placements and CRC 300 billion externally, with CRC 1.25 trillion remaining to be funded. The BCCR aims for CRC 484.260 billion in net market funding, continuing auctions of short-term and longer-term bonds to improve debt maturity profiles.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-21•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has signed memorandums of understanding with various regulatory bodies to enable electronic data sharing through its eZfile portal under the Pakistan Regulatory Modernization Initiative. This integration aims to reduce manual submissions and expedite service access, aligning with SECP's digital transformation and the government's ease-of-doing-business agenda.
Policy & regulationCooperationRegulatory reporting
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2025-08-21•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan released its Insurance Industry Statistics 2024, noting significant growth in industry assets and gross premiums, particularly in the takaful segment. Total industry assets rose to PKR 3,554 billion, with gross premiums increasing by 7% to PKR 677 billion. The report highlights a 25% rise in private sector life premiums and a threefold increase in digital channel premiums, alongside future priorities like a five-year development plan and adoption of international standards.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-21•Algeria•Algeria Market Authority (COSOB)
Algeria Market Authority (COSOB) said Groupe Biopharm Spa will pay its 2024 dividend on 31 August 2025. The dividend is set at DZD 160 per share.
Other
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2025-08-21•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) has adopted initiatives to enhance life insurers' capacity to meet policyholder claims by updating economic scenario modelling, expanding principle-based reserving to fixed annuities, and adding reinsurance disclosure requirements. The new Generator of Economic Scenarios (GOES) will be used for reserve and capital calculations, reflecting recent interest rate changes. Actuarial Guideline 55 mandates additional disclosures on certain reinsurance contracts to ensure adequate reserves.
Policy & regulationRules & requirementsPrudential risksAccounting and financial reporting
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2025-08-21•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) issued guidance on implementing the EU Digital Operational Resilience Act (DORA) simplified requirements for ICT and third-party risk management. The notice targets BaFin-supervised institutions not subject to the Capital Requirements Regulation, small occupational pension institutions, investment firms, and insurance holdings. BaFin provides comparisons between BAIT, VAIT, and DORA, and outlines documentation requirements under Article 16 DORA.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-08-21•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) amended the General Regulation and Accounting Manual for Savings and Credit Cooperatives (Coopac). The amendments introduce new capital strengthening sources, specific asset revaluation treatments, and adjusted provisioning timelines, aligning prudential and accounting requirements with cooperative operations while ensuring solvency and member protection.
Policy & regulationRules & requirementsCapital adequacyAccounting and financial reporting
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2025-08-21•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert due to fraudulent websites, fake internet banking login screens, and phishing emails affecting banks like The Bank of East Asia and Shanghai Commercial Bank. The HKMA stressed that banks won't send SMS or emails with embedded links for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-08-21•Germany•BaFin
BaFin issued a supervisory notice with implementation guidance on DORA’s simplified ICT risk management framework (Article 16) and ICT third‑party risk management (Articles 28–30). It targets non‑CRR institutions transitioning from BAIT from 2027, as well as small occupational pension institutions, small investment firms and insurance holdings already applying Article 16. The notice compares BAIT and VAIT with DORA, outlining material simplifications, minimum contractual clauses and documentation requirements. It does not apply to entities previously subject to ZAIT or KAIT.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-08-21•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 reported on the 12th International Forum of Insurance Guarantee Schemes, highlighting that the Insurance Payments Guarantee Fund JSC is chairing IFIGS for the first time. Chair Madina Abylkassymova emphasized Kazakhstan's alignment with international insurance practices. The forum discussed regulatory changes, insurance product improvements, and digital technology deployment, focusing on developing a catastrophe insurance model.
Policy & regulationCooperationOther
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2025-08-21•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency has launched an online course, "Insurance organizations and pension funds: financing and investing," for actuaries. It covers state regulation, financial reporting, risk-based capital requirements, and actuaries' roles in prudential regulation. This is part of ten courses to enhance actuarial skills in Kazakhstan.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-21•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on the role and responsibilities of co-borrowers in credit agreements. Co-borrowers share joint liability with borrowers, and their income is considered in loan approvals, exposing them to full repayment obligations if the borrower defaults. The guidance advises careful review of contract terms and assessment of repayment capacity.
Policy & regulationGuidance & interpretationLendingPrudential risks
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2025-08-21•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to sanctions information across four regimes: Cyber, Global Irregular Migration and Trafficking in Persons, Democratic Republic of the Congo, and Russia. Firms are directed to the Isle of Man Government news releases and the Treasury’s Sanctions and Export Control webpage for details. Subscription options for monitoring include an RSS feed and the UK Treasury’s email alert system.
Policy & regulationGuidance & interpretationSanctions list update
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2025-08-21•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston released a working paper analyzing financial stability risks from technology-focused third-party service providers, highlighting vulnerabilities from operational outages and cyberattacks. The paper reviews regulatory responses in the US, UK, and EU, noting differences in oversight and resilience measures. A workshop on this topic will be held by the Boston, Chicago, and Dallas Federal Reserve Banks on October 16, 2025.
ResearchOutsourcing and third-party risk managementCyber resilience
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2025-08-21•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) attended the Estadão Summit ESG 2025 in São Paulo, where Director Jéssica Bastos emphasized Brazil's opportunity to advance the ESG agenda. Bastos discussed political backlash against ESG and governance dismantling, highlighting alignment between government, regulators, and the market. The event also addressed energy transition, social responsibility, corporate diversity, sustainability reporting, and compliance.
Policy & regulationCooperationESG
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2025-08-21•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has expanded its insurance and pension education initiatives to enhance public understanding and support financial citizenship. Efforts include a sector dialogue on insurance and pension education, a 2024 technical cooperation agreement for teacher courses, and participation in the "Na Ponta do Lápis" programme for student financial literacy. SUSEP also promotes consumer awareness through the "Meu Futuro Seguro" programme, offering accessible information on its platforms.
Financial literacy & educationFinancial literacy and education
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2025-08-21•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan hosted the 42nd meeting of the Coordinating Council on professional training for central bank staff, reviewing the 2024 training programme and approving the 2026 work plan. Participants included representatives from several regional central banks. The Council emphasized enhancing staff expertise and fostering cooperation among central banks.
Institutional developmentCooperation & capacity buildingOther
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2025-08-21•South Africa•South African Reserve Bank
The South African Reserve Bank's working paper uses a dynamic stochastic general equilibrium model to assess climate change shocks on South Africa's macroeconomic stability and monetary policy. It shows climate variability can significantly impact inflation expectations and economic output, suggesting monetary policies should incorporate climate risks. This preliminary research, part of the South African Reserve Bank Working Paper Series, aims to provoke discussion.
ResearchClimate risk and sustainable finance
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2025-08-21•South Africa•South African Reserve Bank
The South African Reserve Bank (SARB) has applied to the High Court to liquidate Ditsobotla Primary Savings and Credit Co-operative Bank Limited (DCB) after determining resolution efforts were insufficient. Assessments showed DCB's financial position was worse than reported, with assets below liabilities and significant compliance failures. The Corporation for Deposit Insurance will reimburse qualifying depositors up to ZAR 100,000, with claims above this addressed in the liquidation process.
SupervisionInterventionsRecovery and resolutionPrudential risks
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2025-08-21•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Dominican Republic Superintendency of Banks released its annual results, highlighting the expansion of risk-based supervision and technology-enabled monitoring. Key developments include 31 inspections, thematic reviews, and the implementation of automated monitoring systems. The report also noted a solvency ratio of 18.4% and a delinquency rate below 2% as of June 2025.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-08-21•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on three websites, blocked by Italian internet service providers. Since November 2023, IVASS has issued cessation orders for 271 websites. The orders are detailed in IVASS's consumer protection section, advising verification of insurance legitimacy through IVASS lists and the Register of Insurance Intermediaries.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) ordered BBN Finance S/A and partner Oscar Gibson Sobrinho to cease offering securities portfolio management services in Brazil without authorization. The services were promoted on www.monet.com.br, and non-compliance may result in a daily fine of BRL 100,000. The CVM may pursue liability for prior violations and encourages investors to report any proposals from the firm.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-21•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission’s Audit Oversight Board published its Annual Inspection Report 2024, highlighting improved audit quality with enforcement cases dropping to 8% from 16% in 2023. The report assessed 40 partners and 40 audit engagements across 13 firms, noting efforts to address resource adequacy and high staff turnover. It urges consistent audit quality, enhanced quality management systems, and stronger oversight of auditor resignations.
SupervisionReviews, inspections & stress testsAuditing
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2025-08-21•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission has placed Carehealth Plus Systems International, Inc. under liquidation and appointed Atty. Erwin C. Onglengco as liquidator, following Executive Order No. 192 (2015). A Notice of Stay Order remains effective until the liquidation concludes or further notice. Future announcements will be available on the Commission's website.
EnforcementInvestigations & enforcement actionsLiquidity risk
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2025-08-21•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued an Iran sanctions notice designating five individuals and entities under the UK’s Iran (Sanctions) Regulations 2023, requiring an asset freeze. Firms must identify and report any relationships with the designated parties and ensure compliance with the Sanctions (Bailiwick of Guernsey) Law, 2018. Notifications and reports under Handbook Rule 12.37 are expected for affected relationships.
EnforcementSanctions & designationsNew sanctions designations
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2025-08-21•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has raised the limit for resident FX forward positions, giving banks more room to offer currency hedging to companies and individuals. The cap now uses three times average daily volume instead of two times, subject to the lower of that amount or 80% of the previous month's effective capital converted into USD. The measure is part of a wider push to deepen Paraguay's financial and derivatives markets.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-08-21•Zambia•Bank of Zambia
The Bank of Zambia and the National Advisory Board for Impact Investment are seeking a management team for the Small Business Growth Initiative (SBGI) pilot. This initiative supports micro, small, and medium enterprises with a credit guarantee scheme, technical assistance, and a Learning Lab. The SBGI Manager will manage capital deployment, oversee loan portfolios, and lead stakeholder engagement.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-08-21•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a public warning regarding Virtu Markets Ltd, stating it is not affiliated with any entity licensed or regulated by the FSA. Investors are urged to conduct due diligence before engaging with the website virtu.markets, as the FSA will not be liable for any consequences.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-21•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority renewed its Corruption-Free Pledge with the Malaysian Anti-Corruption Commission, extending it to new management and staff. The renewal included an Integrity Forum and existing anti-corruption measures, such as a Code of Business Conduct and Ethics. Plans were also announced to pursue ISO 37001:2025 Anti-Bribery Management System certification by 2026 under its Organisational Anti-Corruption Plan 2024–2026.
Institutional developmentCooperation & capacity buildingBribery and corruption
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2025-08-21•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has expanded its "Campaign on Campus" financial literacy initiative to universities across five regions, following a successful pilot in Bangkok. The program, targeting university students, includes investment simulation games, scam-awareness activities, and a TikTok contest, with scholarships totaling THB 37,000. The first 2025 event was held at the College of Asian Scholars in Khon Kaen Province, engaging over 180 students.
Financial literacy & educationFinancial literacy and education
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2025-08-21•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has asked public prosecutors to file a civil lawsuit against 13 individuals for manipulating the prices of Max Metal Corporation Co., Ltd., Electronics Industry Public Company Limited, News Network Corporation Public Company Limited, and NEWS Warrants Series 5. The SEC seeks civil penalties totaling THB 202,022,012 plus interest after the individuals refused to comply with previously imposed sanctions. The case has also been reported to the Anti-Money Laundering Office for further consideration.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-21•Rwanda•National Bank of Rwanda
The National Bank of Rwanda's Financial Stability Committee reported that Rwanda's financial system remains stable and resilient, with strong capitalisation and liquidity despite rising vulnerabilities. As of June 2025, banks and microfinance institutions exceeded regulatory capital and liquidity requirements, while financial sector assets grew 22.6% year-on-year. The committee noted increased digital activity and flagged rising fraud incidents, emphasizing ongoing efforts in risk management and policy implementation to maintain stability.
SupervisionRisk monitoring & watch pointsCapital adequacyLiquidity riskFinancial stability and systemic risk
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2025-08-21•Russia•Central Bank of Russia
Starting 1 September 2025, the Central Bank of Russia requires banks to use nine indicators to detect potentially fraudulent ATM withdrawals. If any indicator is met, banks must notify the customer and limit withdrawals to RUB 50,000 per day for 48 hours, with larger amounts available at bank offices. Indicators include atypical withdrawal behavior, changes in phone activity, and recent large transactions or account changes.
Policy & regulationRules & requirementsFraud and scams
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2025-08-21•Canada•Payments Canada
Payments Canada released The Real-Time Rail Participation Guide for Payment Service Providers, detailing membership and participation in the Real-Time Rail (RTR) system. The guide outlines technical, operational, and business requirements for PSPs, emphasizing RTR's 24/7/365 real-time clearing and settlement capabilities. RTR aims to eliminate credit risk and support real-time cash and liquidity management across various business models.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-08-21•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has launched its annual research competition to foster innovation in the non-banking financial sector and capital market. The competition features two award tracks: the Dr Ahmed Saad Award for applied research on the Egyptian capital market and the Dr Ashraf El‑Sharqawy Award for comparative studies on non-banking finance laws. Prizes range from EGP 25,000 to EGP 100,000.
ResearchOther
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2025-08-21•Chile•Chile Financial Market Commission
The Chile Financial Market Commission warned that North Trust Company, Northern Trust SpA, and Northern Trust Company are not authorized to provide financial services in Chile. The CMF emphasized it has no supervisory authority over these entities and advised investors to verify firm registration and management details on its website. The Commission also directed the public to its Fraud Alerts Page for further verification and alerts.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-21•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission appointed Judge Margaret “Meg” Ryan as Director of the Division of Enforcement, effective 2 September 2025. Acting Director Sam Waldon will resume his role as Chief Counsel for the Division. Ryan is a senior judge at the United States Court of Appeals for the Armed Forces and lectures at Harvard University Law School.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-21•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) issued August 2025 enforcement actions, including a formal agreement with First National Bank & Trust Company for unsafe practices and eight prohibition orders against former bank employees for misconduct causing financial losses. The actions addressed embezzlement, fraudulent transactions, and misappropriation of funds. Additionally, the OCC terminated a previous cease-and-desist order against Anchorage Digital Bank related to compliance program deficiencies.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-08-21•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva discussed the regulatory framework for virtual asset service providers and tokenisation at the Buenos Aires City Bar Association. Silva highlighted the CNV's expansion of tokenisation regulation through General Resolution No. 1081, describing it as part of an innovative regime. The event included a session on the legal framework for digital securities representation via distributed ledger technology.
Policy & regulationGuidance & interpretationTokenization
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2025-08-21•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance revoked ORBIS Compañía Argentina de Seguros S.A.'s authorization to operate following its voluntary dissolution and liquidation notice. The Superintendency's request to be appointed as liquidator was rejected by the National Commercial Court, and the appeal is pending.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-08-21•Argentina•Argentina Superintendency of Insurance
Argentina's Superintendency of Insurance issued Resolution RESOL-2025-452-APN-SSN#MEC, prohibiting Gustavo Oscar Palopoli from holding positions in management or oversight of insurance and reinsurance entities. The decision aims to ensure transparency and proper market functioning.
SupervisionInterventionsFitness and propriety
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2025-08-21•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has extended the deadline for investors to submit claims against Karvy Stock Broking Limited, declared a defaulter by the National Stock Exchange. The new deadline is 31 December 2025, following an initial deadline of 2 June 2025.
Policy & regulationRules & requirementsOther
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2025-08-21•South Korea•Bank of Korea
The Bank of Korea's preliminary Producer Price Index for July 2025 indicates a 0.4% rise in producer prices from June and a 0.5% increase year on year. Agricultural, forestry, and marine products saw a 5.6% month-on-month rise, while manufacturing products increased by 0.2%. Electric power, gas, water, and waste decreased by 1.1%, and services rose by 0.4%.
Data & statisticsEconomic data and developments
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2025-08-21•Moldova•National Bank of Moldova
The National Bank of Moldova released July 2025 statistics on the domestic cash foreign exchange market, reporting a total turnover of EUR 516.4 million. Euro transactions dominated at 72.7% of turnover, with a 19.3% increase from the previous month. Compared to July 2024, turnover rose by 3.0%.
Data & statisticsCurrency and cash management
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2025-08-21•Moldova•National Bank of Moldova
The National Bank of Moldova released its July 2025 data on licensed banks' foreign-currency assets and liabilities, with total foreign-currency assets at MDL 51.06 billion and liabilities at MDL 50.89 billion. The report details on-balance-sheet and off-balance-sheet items, with long positions totaling MDL 356.54 million and short positions at MDL -183.20 million.
Data & statisticsCurrency and cash management
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2025-08-21•Moldova•National Bank of Moldova
The National Bank of Moldova reported that in July 2025, net foreign currency supply from individuals covered 79.9% of companies’ net foreign currency demand, up from 78.1% in June. The BNM intervened in the interbank market with net sales of EUR 64.0 million. The leu's average exchange rate against the euro increased from 19.6668 in June to 19.7842 in July.
Data & statisticsBalance of payments and other external statistics
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2025-08-20•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission attended a National Bank of Angola conference in Luanda, focusing on the legal and regulatory regime for non-bank financial institutions. The event aimed to enhance knowledge on licensing and registration procedures, promoting financial inclusion and transparency. Key discussions involved authorisation processes and supervisory mechanisms, with contributions from national and international stakeholders.
Policy & regulationCooperationOther
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2025-08-20•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico’s National Banking and Securities Commission (CNBV) reported an aggregate capital adequacy index (ICAP) of 32.41% for broker-dealers as of June 2025. All broker-dealers were classified in Early Warning Category I, indicating compliance with the minimum capital requirement and sufficient capitalisation to absorb unexpected losses.
SupervisionRisk monitoring & watch pointsCapital adequacy
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2025-08-20•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission's National Working Group for Benchmark Reform is consulting on draft recommendations for using the POLSTR reference index and the POLSTR Compound Indices Family benchmarks in floating-rate debt securities issuances.
Policy & regulationGuidance & interpretationFinancial benchmarks
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2025-08-20•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority completed the compulsory acquisition of all shares of Mubarrad Holding Company. No Mubarrad shareholders participated in the offer during the share pooling period, while Aayan Leasing and Investment Company and its group hold 59.96% of Mubarrad’s shares.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-08-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has intensified its surveillance on large proprietary companies' non-lodgement of financial reports after widespread non-compliance post-2022. ASIC found 755 of 1,166 companies failed to lodge reports in FY23 or FY24. The focus is on companies with AUD 50 million revenue, AUD 25 million assets, or 100 employees. Surveillance aims for completion by Q1 2026, using enforcement tools to address non-lodgement, urging proactive management of reporting obligations.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2025-08-20•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has suspended trading in NX Filtration N.V. due to an awaiting press release. The suspension, effective from 13:30 on 20 August 2025, will remain until further notice and was not requested by a market operator or investment firm.
SupervisionInterventionsTrading
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2025-08-20•Peru•Central Bank of Peru
The Central Bank of Peru reported a 17.6% increase in Peru's terms of trade in June 2025 compared to June 2024, driven by higher export prices and lower import prices. Export prices rose 12.7% year on year, notably in gold, copper, and coffee, while import prices fell 4.1% due to declines in oil and industrial inputs. The terms of trade index reached 161.3 in June, up from 158.9 in May and 137.2 a year earlier.
Data & statisticsBalance of payments and other external statistics
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2025-08-20•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has approved the Capital Market Development Fund (CMDF) to support capital market initiatives and enhance financial literacy. The fund, managed by the Institute of Financial Markets of Pakistan, will receive PKR 30 million in seed capital and 1% of annual revenue from key market institutions. A steering committee will oversee governance and strategic direction.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-08-20•Ukraine•National Bank of Ukraine
The National Bank of Ukraine released the Financial Stability Council's opinion on reducing state ownership in the banking sector through sales of shares in Sens Bank JSC and UKRGASBANK JSC. The Council concluded that these sales, if conducted under Ukraine's Law on the Specifics of Selling State-Owned Shares in the Authorized Capital of Banks, would not negatively impact financial stability. The assessment follows discussions on divestment risks and strategic objectives to enhance bank share value.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2025-08-20•Portugal•Bank of Portugal
The Bank of Portugal released updated securities statistics for July 2025, highlighting a rise in resident-issued listed equities and outstanding debt securities. Outstanding debt securities reached EUR 320.5 billion, with net issuance primarily from the financial sector and general government. ESG-labelled debt securities decreased to EUR 13.7 billion due to net redemptions.
Data & statisticsFinancial and market indicatorsSupervisory data