Uruguay's Ministry of Economy and Finance, Ministry of Environment and Central Bank have opened pre-registration for the country’s first dedicated climate finance certificate. The 60-hour program will train public, financial and productive-sector professionals to assess climate risks and opportunities and design financing proposals. The first cohort has 40 places and begins Sept. 26.
Uruguay’s Ministry of Economy and Finance highlighted expanded investment tax benefits for smaller businesses, large-scale projects and agricultural investment under rules effective since February. A revised indicator matrix determines corporate income tax exemptions, while procedural changes, artificial intelligence and digital applications helped raise recommended projects to 386 in August.
The White House launched a governmentwide review of policies affecting US ranchers, focused on financial viability, market access and lower consumer prices. The order also requires reviews of federal wolf protections, predator loss compensation and beef country of origin labeling.
The Eurosystem will move its planned T2, T2S, TIPS and Eurosystem Collateral Management System releases from November 14 to November 28 following SWIFT’s standards delay. User testing remains scheduled to start on October 9. T2 will temporarily accept fully unstructured postal addresses while participants continue migrating to structured or hybrid formats.
The Tanzania Insurance Regulatory Authority has trained regional officers to detect, prevent and report insurance fraud. The program emphasized due diligence in insurance agent registration and fraud risks across major insurance lines, including technology enabled document and information forgery.
The Bank of Cape Verde participated in African Union discussions on industrialization financing, financial stability and regional economic integration. The session also addressed debt sustainability, capital markets, integrated payment systems and implementation of the African Continental Free Trade Area.
The Bank of Cabo Verde explored cooperation with Bank of China on using the renminbi in reserve management, investment and financing. The discussions included a possible operational relationship for renminbi denominated transactions and related support services.
The Central Bank of Montenegro marked its 25th anniversary by framing European integration and payment modernization as the next phase of its development. Governor Irena Radović highlighted SEPA membership and the TIPS Clone instant payment system, while IMF Managing Director Kristalina Georgieva said EU accession could raise Montenegro’s GDP per capita by 30% to 35% over a decade under the right conditions.
The U.S. Department of the Treasury sanctioned Türkiye-based Golden Global Bank and two subsidiaries for facilitating IRGC-QF transactions and providing Iran with international correspondent banking access. Their U.S.-linked property is blocked, and foreign financial institutions handling significant transactions for them may face secondary sanctions.
The Luxembourg Ministry of Finance and its partners have launched the EUR 270 million Luxembourg Future Fund 3 to expand financing for startups, scaleups and small and medium-sized enterprises. The fund of funds will target high-growth sectors and prioritize Luxembourg-based investment funds, with the National Credit and Investment Institution now investing directly alongside the European Investment Fund.
The Bermuda Ministry of Finance has tabled legislation to limit the unrestricted availability of certified birth certificates and reduce identity theft and fraud risks. Lawful access, public inspection of birth registers and the eventual release of historical records would be preserved.
Poland's Ministry of Finance and prosecutors reviewed the implementation of MONEYVAL recommendations and preparations for the next evaluation. Priorities include Criminal Code changes on terrorist financing, stronger data collection and coordination on financial investigations, asset recovery and case outcomes.
The Cyprus Securities and Exchange Commission warned that 10 websites are not linked to entities authorized to provide investment or crypto asset services. Investors should verify a provider’s authorization on CySEC’s website before doing business with it.
The Angola Capital Markets Commission approved a public offering of 4.76 million Standard Bank de Angola shares, representing 34% of its capital. All 14 million shares are expected to be admitted to exchange trading, but the registration does not constitute a regulatory guarantee of the offering or the securities.
A Federal Reserve Board research note sets out a framework for classifying tokenized deposits, tokenized money market funds and payment stablecoins within U.S. monetary aggregates. Tokenized deposits and retail money market funds are already captured, while stablecoins could enter M1 or non-M1 M2 depending on their dominant use. Stablecoin inclusion would require standardized data and solutions for double counting and global circulation.
Argentina’s Superintendent of Insurance Guillermo Plate urged insurers to expand their capacity to cover the larger and more complex risks arising from growth in strategic sectors. He called for investment in capital, specialist underwriting, risk management, technology, expertise and reinsurance, describing insurance as an “invisible infrastructure of growth.”
The Brazil Securities Commission consolidated its guidance for registering public offering coordinators and clarified the conditions for nonfinancial institutions to handle automatically registered offerings. Such institutions must be supervised by a self-regulatory organization with a specific CVM cooperation agreement. Under the Anbima agreement, they must adhere to Anbima’s self-regulatory codes and remain subject to its supervision.
Argentina Securities Commission Chair Roberto E. Silva reviewed the country’s evolving rules for virtual asset service providers and tokenization at an international law and technology conference. He highlighted the expansion of the negotiable securities tokenization regime to new instruments and the extension of its regulatory sandbox.
The Dubai International Financial Centre Innovation Hub and The Foundation Hub are developing an innovation corridor between Dubai and Slemani, initially focused on FinTech and artificial intelligence. Selected Kurdistan-based founders will receive mentorship, investor and corporate introductions, and access to major DIFC events and Dubai ecosystem visits.
The US White House highlighted a 162,000 increase in August employment, nearly triple economists’ expectations, with manufacturing adding 16,000 jobs and construction adding 22,000. More than one million private-sector jobs have been created during President Donald Trump’s second term, while private-sector average weekly earnings increased 3.7% over the year.
Committee Ranking Member Elizabeth Warren criticized the Trump administration’s economic record, citing monthly job growth below 40,000, slowing wages and rising costs.
Superintendent Peter Routledge will discuss Canada’s economic landscape and OSFI’s modernization efforts at the Scotiabank Financials Summit on September 9, 2026.
The Central Bank of Russia’s website may experience delays during maintenance on September 5 and 6, 2026.
South Africa's Financial Sector Conduct Authority has revoked the administrative penalty against My Wealth Dias and Charl Francois Coetzee's 20-year debarment. The penalty findings will be referred to the Prudential Authority because the FSCA lacked delegated penalty powers, while Coetzee's case will be reconsidered using further information submitted to the Financial Services Tribunal.
The Central Bank of Ecuador reported that the Economic Expectations Index rose 3 points to 56.2 in July 2026, its sixth consecutive month above the 50-point confidence threshold. All four surveyed sectors exceeded 50, led by services at 60.
The Federal Deposit Insurance Corporation published June 2026 Community Reinvestment Act ratings for 37 state nonmember banks. Thirty-three were rated satisfactory, two outstanding and two needs to improve.
The Federal Reserve Board terminated enforcement actions involving United Texas Bank and two Quontic companies on Sept. 2, 2026.
Brazil Securities Commission President Otto Lobo outlined work to develop AI-based market surveillance infrastructure. The authority is securing resources to begin testing new systems and has discussed the initiative with industry associations.
The U.S. Department of the Treasury designated Türkiye-based Golden Global Bank and two subsidiaries for facilitating tens of millions of dollars in IRGC-QF transactions and providing Iran with correspondent banking access. Their property within U.S. jurisdiction is blocked, and foreign financial institutions conducting significant transactions for them may face secondary sanctions.
Bank of England staff research finds that firms without access to cash flow-based borrowing cut R&D substantially more after monetary tightening. A model estimates that a 25 basis point tightening leaves output persistently 0.12% below trend, with universal access to such borrowing reducing the loss by about 30%. The effects fall disproportionately on younger firms that produce more and higher-quality patents.
Bank of England staff research finds that the Basel III output floor reduces the cyclicality of risk weighted assets, capital requirements and lending. During expansions, it dampens mortgage growth but strengthens lending to firms, while moderating aggregate credit growth. The UK floor is scheduled to take effect in January 2027 and reach 72.5% in January 2030.
The National Bank of Hungary has filed a complaint alleging suspected misconduct linked to the loss in value of five properties. An audit found significant overvaluation, with appraisals substantially below book values and a possible financial loss to the central bank. The action expands an October 2025 complaint that is entering the investigative stage.
Authority for Anti-Money Laundering and Countering the Financing of Terrorism Chair Szego argued that harmonized safeguards and legal certainty provide the trust needed for financial innovation to scale. She cited the inclusion of crypto-assets under the Markets in Crypto-Assets Regulation and the new anti-money laundering framework, while calling for closer Western Balkan cooperation to reduce gaps between national systems.
The European Securities and Markets Authority has signed a cooperation agreement with the Securities and Exchange Board of India that allows supervised Indian CCPs to reapply for recognition under the European Market Infrastructure Regulation. The agreement provides for supervisory information exchange and emergency cooperation, supporting a pathway to restore access for EU clearing members.
The Australian Competition and Consumer Commission outlined an evolving enforcement focus on nuanced collusion, bid rigging and restrictive arrangements that weaken competition. Consumer investigations are likely to scrutinize the systems, incentives and governance behind manipulative digital practices. The agency will continue to combine litigation with infringement notices, remediation and targeted ex ante measures.
The Dominican Republic's Pensions Superintendency said DOP 482 billion of DOP 722 billion approved for pension fund investment through investment funds remains to be placed. Potential new sectors include micro, small and medium enterprises and agricultural technology, extending pension funds’ role as the country’s leading institutional investors.
The Tanzania Insurance Regulatory Authority ranked first among public institutions participating in the 21st East Africa Trade Fair in Mwanza. Its presence at the fair focuses on insurance opportunities and policyholders’ rights, particularly claims.
The Bank of Mauritius launched BOMStats to provide streamlined access to official statistics, self-service analytics and application programming interfaces. The platform supports interoperable data sharing and makes the Bank the first African central bank to deploy Open Data Platform 2.0 technology.
The Bahamas Ministry of Finance published remarks by Prime Minister Philip Davis calling for disaster resilience to be embedded in economic, infrastructure and climate policy. Davis reviewed existing institutional and financing measures introduced since Hurricane Dorian and emphasized a shift from post-disaster response to anticipating risk. No new policy or timetable was announced.
The Central Bank of The Bahamas reported continued second-quarter economic growth, led by tourism and foreign investment-supported construction, while higher global oil prices increased inflationary pressures. Bank liquidity and net foreign assets rose, but quarterly credit quality trends were mixed and first-quarter profitability declined. The estimated current account deficit narrowed considerably.
The New York State Department of Financial Services approved 2027 premium increases of 6.0% for individual health plans and 8.0% for small group plans, well below insurers’ requests of 20.6% and 23.7%. The reductions are expected to save consumers and small businesses about USD 1.6 billion across markets covering approximately 860,000 New Yorkers.
The Securities and Exchange Board of India and the European Securities and Markets Authority have signed a revised cooperation and information-sharing agreement covering Indian-regulated central counterparties. The framework replaces their 2017 agreement and enables the European authority to rely on Indian regulatory and supervisory activities while safeguarding European Union financial stability.
The Vietnam State Securities Commission’s Party organization joined a nationwide conference to study and implement new Politburo resolutions and directives. More than 280 members participated across three sites, and the update does not introduce securities regulatory measures.
The Thailand Office of Insurance Commission presented 60 awards across 10 categories and highlighted the insurance industry’s goal of reaching THB 1 trillion in direct written premiums in 2026. Officials identified digital customer verification, policies and claims as priorities, alongside a potential larger role for insurers in covering public-sector risks such as health care costs.
China's National Financial Regulatory Administration has proposed Insurance Law revisions that would expand look-through oversight and strengthen prudential supervision, risk resolution and market exit rules. The draft would also enhance consumer protection, clarify prohibited conduct and raise penalties for violations.
The China Securities Regulatory Commission plans a long-term mechanism to strengthen performance discipline among officials. Recurring reviews, audits and other oversight will support corrective action and align internal governance with risk prevention, stronger regulation and high-quality market development.
China's National Financial Regulatory Administration is consulting on unified disclosure rules for banks, insurers, financial holding companies and other regulated institutions. The proposal strengthens governance and individual accountability, expands supervisory and enforcement tools, and would replace three existing disclosure regimes. Listed institutions could avoid duplicating information already published under securities disclosure requirements.
The Ghana Securities and Exchange Commission has issued guidelines requiring regulated business communications to use approved, recordable and supervised channels. The rules cover securities market operators, virtual asset service providers and relevant personnel, with specified requirements also extending to providers of Class III communication platforms.
The Central Bank of Ecuador reported record second quarter exports of USD 10.177 billion and imports of USD 9.407 billion. Faster import growth narrowed the trade surplus by 59.0% year over year to USD 769.8 million, despite higher oil and shrimp exports.
The District Court will begin the trial of Chan Hoi Shing and Li Po Ching on Aug. 23, 2027, after they pleaded not guilty to securities fraud charges. The Securities and Futures Commission alleges that they used false shareholding representations to conduct illegal short selling in 28 companies, generating about HKD 11 million.
The Hong Kong Monetary Authority warned the public about reported banking scams and reiterated that banks do not request sensitive information or send transaction links by phone, email or SMS.
The Hong Kong Monetary Authority has appointed Mayanna To as General Counsel, effective Feb. 12, 2027. She will succeed Karen Kemp and oversee legal advice across the authority’s functions.
Hong Kong Interbank Clearing Limited has warned that kichkfips[.]com is a fraudulent website posing as an FPS buyer protection service. It seeks identity and bank account information and directs users to fake customer service personnel. The website has no affiliation with HKICL.
The Hong Kong Monetary Authority has warned of scams that bind victims’ payment cards to contactless mobile payment services, enabling unauthorized transactions. Customers should reject binding requests they did not initiate, never disclose card or authentication credentials, and contact their bank and the police if they suspect fraud.
The Central Bank of Russia reported that noncash transactions represented 88.4% of retail turnover in the second quarter of 2026, down 0.5 percentage points as cash use increased. Alternative methods gained share, led by growth in QR code, biometric and Bluetooth payments.
The Central Bank of Russia has approved statistical development guidelines through 2030. A single data portal will offer all indicators through an application programming interface, while standardized descriptions will improve transparency and comparability.
The National Bank of the Kyrgyz Republic has adopted FATF aligned amendments to strengthen anti-money laundering and counterterrorist financing controls for virtual asset related transactions.
The Bank of the Lao PDR briefed 105 officials and staff on guidance for building clean, strong and solid Party units. The meeting sought to support consistent understanding and implementation across the central bank’s Party organization.
The Egypt Financial Regulatory Authority will introduce Baridi registered email for legally binding communications with supervised entities under an agreement with the Egypt National Post Authority. The regulator plans to update relevant frameworks and phase in the secure digital service as an alternative to registered paper mail.
A Central Bank of Luxembourg study finds that euro area companies switching banks initially obtain lower interest rates, larger loans and longer maturities. The benefits fade on subsequent borrowing, while more concentrated credit markets offer larger rate reductions but have fewer switching firms.
Moldova's National Commission for Financial Markets found consumer credit breaches and abusive contractual terms at Extra Credit LLC and plans to seek their invalidation in court. It also registered a MDL 15.17 million capital reduction by Agrofirma Cimișlia SA.
Austrian household foreign currency loans fell 2.9% on an exchange rate adjusted basis in the second quarter of 2026 to EUR 4.92 billion, or 2.7% of household lending. The remaining stock consists almost entirely of Swiss franc loans and is expected to mature mainly between 2029 and 2033.
The Tanzania Insurance Regulatory Authority participated in and sponsored the launch of the 2026 Rufiji Community Policing Cup. It provided sports jerseys and used the event to promote insurance awareness and safer road use.
The Central Bank of Ireland reported that payment fraud value rose 27.2% to EUR 179.04 million in 2025, while the number of fraudulent transactions increased only marginally. Authorised push payment fraud accounted for 45% of fraud by value, and cross-border payments represented 69.8%.
The International Monetary Fund has introduced FPP-FIN, a framework that integrates banking sector profitability, asset quality, capital and lending capacity into macroeconomic analysis. It supports both financial stability projections and two-way modeling of how credit conditions can amplify economic shocks. The approach has been applied in surveillance and technical assistance across several countries.
The European Securities and Markets Authority will hold Data Day 2026 in Paris on Nov. 24, focusing on technology, data and simplifying regulatory reporting. The agenda covers transaction and fund reporting, artificial intelligence, crypto-asset monitoring and a first European Single Access Point prototype ahead of its planned July 2027 launch.
European Central Bank Executive Board member Philip R. Lane reported that women represented at least 33% of staff in every salary band cluster by August 2026, including 41.8% of senior management. He also reviewed research showing that the gender promotion gap disappeared from 2011, although women remained less likely to apply for promotion. ECB measures focus on working arrangements, targeted recruitment, leadership development and mentoring.
The Luxembourg Ministry of Finance and its partners have launched a EUR 270 million fund of funds to expand financing for startups, scaleups and small and medium-sized enterprises in high growth sectors. The program will primarily back Luxembourg-based funds, with the National Credit and Investment Institution participating directly in investment decisions for the first time.
Foreign and mainland investors recorded combined net sales of TWD 1,266.26 billion in Taiwan-listed shares through August 2026. Combined net inward remittances totaled USD 16.665 billion in August and USD 90.520 billion for the first eight months of the year.
Taiwan’s foreign exchange reserves rose by USD 7.63 billion in August 2026 to USD 601.90 billion. The increase reflected reserve management returns, currency movements and central bank intervention to smooth volatile capital flows.
The Central Bank of the Republic of Azerbaijan has revised its methodology for identifying systemically important insurers and set a classification threshold of 15 percentage points. The framework now assesses size, diversification and substitutability across insurers’ effects on the insurance system, financial system and real economy, with the list approved annually by Sept. 1.
The Insurance State Supervision Service of Georgia discussed consumer protection, longevity, climate risks and artificial intelligence at an international conference in Ljubljana. Regional and bilateral meetings also addressed supervisory priorities, coordination and potential cooperation with overseas counterparts.
An OECD working paper estimates that climate change could reduce global GDP per capita by 6.3% under a current policy scenario and 18% under a high emissions scenario by 2100. Heat stress drives most losses, while production networks amplify damage. Trade and labour mobility reduce global losses but redistribute impacts across regions.
The China Securities Regulatory Commission has proposed tighter rules for private investment fund fundraising, including refined qualified investor standards and stronger look-through supervision. The measures clarify suitability and risk disclosure duties for managers and sales institutions and strengthen safeguards for fundraising settlement funds, internal controls and legal accountability.
The Hellenic Capital Market Commission approved Star Bulk Carriers Corp.'s prospectus for a 4.4 million share offering and the admission of all its shares to Euronext Athens' Main Market.
Greece's Minister of National Economy and Finance and Eurogroup President Kyriakos Pierrakakis called for faster EU integration in capital markets, banking, supervision and technology. He pointed to the Savings and Investments Union, the market integration and supervision package and a digital euro targeted for 2029, while advocating pooled European regulatory expertise for digital currencies.
The National Bank of Ukraine has introduced a UAH 2,000 banknote as the country’s new highest denomination and legal tender. The note will enter circulation gradually, reducing cash-handling costs and partially replacing UAH 500 and UAH 1,000 notes. It depicts Vasyl Stus and includes more than 20 security features.
The South Korea Financial Services Commission signed its fourth regional agreement to establish integrated financial, debt, employment and welfare support in Gangwon. The initiative will create a joint support center, tailored Shinhan Bank savings and loan products, and mobile consultations for residents with limited access. The commission plans to expand the model nationwide.
Hong Kong Securities and Futures Commission Chief Executive Officer Julia Leung said the regulator is considering guidance to clarify governance and human oversight expectations for agentic AI. She also outlined measures to deepen Hong Kong’s offshore renminbi market, including southbound Stock Connect readiness for renminbi counters, a fixed income and currency trading platform, and wider collateral use by the end of 2026.
The People’s Bank of China directed the creation of a long-term mechanism linking political performance principles to decision-making, personnel management and internal oversight. It also reiterated priorities including a moderately loose monetary policy, risk mitigation, financial reform and stronger support for the real economy.
The Philippine Securities and Exchange Commission has cleared Mynt’s IPO of up to PHP 92.32 billion, subject to remaining requirements. Mynt is the first issuer approved for a reduced 12% initial public float under rules for companies with an exceptionally large expected market capitalization. Listing under the ticker GCASH is planned for Oct. 20.
The Swedish Financial Supervisory Authority reported that mortgage rate declines have largely stopped, while banks’ average rates differed by 0.27 percentage points in June. That gap equals more than SEK 5,300 a year before interest deductions on a SEK 2 million mortgage, reinforcing the case for borrowers to compare and negotiate rates.
The National Bank of Kazakhstan cut the base rate by 50 basis points to 16.25%, with a plus or minus 1 percentage point corridor, as annual inflation eased to 9.8% in August. Stronger pro-inflationary risks limit further cuts, with policy aimed at bringing inflation near the 5% medium-term target in 2028.
The Reserve Bank of Australia’s balance sheet contracted by AUD 1.053 billion to AUD 357.899 billion in the week to Sept. 2. Australian dollar investments fell AUD 1.502 billion, while Exchange Settlement balances declined AUD 3.696 billion and other deposits rose AUD 3.871 billion.
The Central Bank of Madagascar is consulting on a draft green taxonomy covering more than 100 activities across key economic sectors. The framework sets criteria against six environmental objectives, including no significant harm and minimum social safeguards, to support credible green financing. A revised final version is scheduled for November 2026.
The Reserve Bank of Fiji has warned that conducting foreign exchange business without a licence is a criminal offence. Hotels and retailers may accept foreign currency for goods or services, but must give change in Fijian dollars and transfer the foreign currency to a licensed dealer within 30 days.
ASIC has several KPMG investigations underway and is reviewing audit conduct complaints across the Big Four, with a further update due before the end of 2026. It also reported more than AUD 55 million in mortgage offset compensation and reiterated concerns about transparency and governance in private credit. Civil penalties reached a record AUD 830 million in the last financial year, while AUD 644 million was returned to Australians in connection with ASIC’s work.
The Bank of the Lao PDR joined the opening of the 2026 Lao Gold Festival, which aims to improve the competitiveness of Laos’ gold and jewelry industry. The event emphasizes investment, international standards and a transparent, well-supervised gold sector connected to global markets.
The State Bank of Pakistan rejected a claim that the Financial Action Task Force identified Raast as a money laundering channel. The FATF report raises no specific concern about Raast, which is mentioned only as a legitimate domestic payment channel and does not currently support cross-border transfers.
The South Korea Financial Services Commission set a phased tokenized securities roadmap beginning in February 2027 with institution-only private funds and bonds, trust-based unlisted shares and public fractional-investment securities. Existing intermediaries may operate within their current licenses, while retail OTC purchases will be capped at KRW 100 million annually per venue and issuer account managers must hold KRW 4 billion in capital. The plan advances the legal framework toward implementation and introduces immediate investor-protection guidelines for noncash trust beneficiary securities.
The Bank of Korea reported a preliminary USD 42.08 billion current account surplus for July 2026, driven by a USD 40.43 billion goods surplus. Financial account net assets increased by USD 40.32 billion, led by other investments.
Thailand's Office of Insurance Commission and the Road Accident Victims Protection Fund trained more than 100 students on compulsory motor insurance and road safety. The program explained that the insurance protects road accident victims, including through preliminary compensation without waiting for fault to be determined, and encouraged students to check family vehicles for continuous coverage.
The Thailand Office of Insurance Commission trained more than 100 students in Chachoengsao on compulsory motor insurance rights and road safety. The program emphasized that the insurance covers road accident victims, allows preliminary compensation before fault is determined and must be maintained for every vehicle.
Mexican national Carlos Erick Vazquez Gonzalez pleaded guilty to laundering approximately USD 4 million in U.S. drug proceeds through cryptocurrency and returning the funds to Mexico. He received an estimated USD 40,000 commission and faces up to 20 years in prison, with sentencing scheduled for Dec. 17.
The British Columbia Financial Services Authority suspended the licences of Rimpy Hothi and Rimpy Hothi Personal Real Estate Corporation, effective September 4, 2026. Hothi cannot conduct licensed real estate activity or work as an unlicensed assistant and must rename Rimpy Hothi Group within 10 days.
The U.S. Securities and Exchange Commission proposed repealing its investment adviser pay-to-play rule, citing compliance burdens and restrictions on protected political activity. Existing antifraud, fiduciary, compliance and ethics obligations would continue to address quid pro quo misconduct.
The U.S. Securities and Exchange Commission proposed fully rescinding its investment adviser pay-to-play rule, citing its broad restrictions on political contributions and speech. Other laws, including the Investment Advisers Act’s antifraud provisions, would continue to prohibit improper pay-to-play practices.
The U.S. Securities and Exchange Commission has proposed fully rescinding its investment adviser pay-to-play rule and eliminating related recordkeeping requirements. The SEC cited implementation burdens and restrictions on political contributions, while pointing to existing antifraud, fiduciary, compliance and ethics obligations as continuing safeguards.
The U.S. Securities and Exchange Commission has proposed fully rescinding its investment adviser pay-to-play rule and related recordkeeping requirements. Advisers would instead manage pay-to-play risks under existing antifraud, fiduciary, compliance and ethics obligations. The SEC estimates annual monetized benefits of about USD 416.3 million.
The Dominican Republic's Pensions Superintendency outlined how planned generational pension funds will shift members from higher-risk portfolios when young to more conservative investments near retirement. Superintendent Francisco A. Torres also reported average historical nominal AFP returns above 11%, with investment earnings accounting for more than half of individual-account balances. Low contribution rates, informality and payment gaps remain constraints on pension accumulation.