Capital Markets Board of Türkiye updates guide on investment funds
The Capital Markets Board of Türkiye has updated its guide on investment funds.
The Capital Markets Board of Türkiye has updated its guide on investment funds.
The Central Bank of San Marino is auctioning a single lot of approximately 3,260 personal care and household goods. Sealed bids are due by noon on Sept. 7, followed by additional sessions on Sept. 9 and Sept. 11 for unsold items.
The Federal Deposit Insurance Corporation is providing supervisory relief to institutions affected by Super Typhoon Bavi in the Northern Mariana Islands, including Rota Municipality. Measures include flexibility for prudent borrower assistance and reporting delays, potential Community Reinvestment Act consideration for recovery activities, and expedited requests for temporary banking facilities.
The International Monetary Fund has issued guidance on operating fixed, basket and crawling exchange rate pegs and bands as nominal anchors for price stability. It recommends credible and convertible anchor currencies, transparent basket design, inflation-consistent crawl rates and sufficiently narrow bands, while advising against commodity and real exchange rate pegs. Interest rates, foreign exchange operations and broader macroeconomic policies should be aligned with maintaining the peg.
The U.S. Securities and Exchange Commission proposed treating EU debt obligations as exempted securities solely for futures marketing and trading. Qualifying futures would fall exclusively under Commodity Futures Trading Commission jurisdiction, while the underlying debt would remain subject to federal securities laws.
International Monetary Fund Managing Director Kristalina Georgieva called for internationally coordinated stablecoin regulation, including strict reserve rules and consistent treatment of similar instruments. She urged emerging economies to strengthen supervision and foreign exchange buffers, while stressing that stablecoin-related funding benefits cannot substitute for fiscal consolidation or central bank price stability.
European Central Bank Executive Board member Isabel Schnabel argued that central bank money should become a native programmable asset on distributed ledgers, with stablecoins remaining complementary rather than replacing it. The Eurosystem’s Pontes platform is due to launch in September 2026, while Appia is assessing whether tokenized reserves should operate through a unified or interoperable multi-ledger architecture.
European Central Bank Executive Board member Isabel Schnabel called for central bank reserves to become native programmable assets on distributed ledgers, arguing that stablecoins cannot provide equally safe and elastic settlement liquidity. The Eurosystem’s Pontes project is scheduled to launch in September 2026 with links to market platforms and its own distributed ledger settlement platform. Project Appia is assessing architecture options that balance interoperability and atomic settlement against resilience, governance and concentration risks.
The Central Bank of Egypt said the U.S. Iran-related measure involving Banque Misr’s UAE branch applies only to its U.S. dollar transactions with correspondent banks. It does not affect Banque Misr’s operations elsewhere or other Egyptian banks.
The Angola Capital Markets Commission has highlighted an expanded supervisory perimeter covering management companies, financial intermediaries, auditors and valuation experts. Its agenda emphasizes audited reporting, compliance and stronger disclosures, as well as digitalization, fintech and environmental, social and governance criteria.
The Angola Capital Markets Commission published its enforcement activity report for the first quarter of 2026.
The Angola Capital Markets Commission will hold its first CMC Junior Competition awards ceremony on September 28. The initiative promotes financial literacy among young people, with a focus on saving, investing and capital markets.
The Botswana Non-Bank Financial Institutions Regulatory Authority is recruiting a Complaints and Enquiries Officer to handle consumer cases and support education and communications programs. Applicants need a relevant advanced diploma, customer care certification and three to four years of similar experience.
The Federal Reserve Bank of Kansas City reported that Tenth District services activity contracted in August, while firms’ expectations moderated but remained positive. More than a quarter of respondents reported lower-than-normal employee turnover, and most cited technology improvements or reduced turnover as the main driver of productivity gains.
The U.S. Department of the Treasury proposed cutting Banque Misr UAE off from U.S. correspondent banking after estimating that it processed about USD 1.8 billion for companies potentially linked to Iranian shadow banking networks. Treasury also sanctioned a Bank Melli Dubai manager and a Hong Kong company for facilitating Iranian access to the international financial system.
The Central Bank of Paraguay hosted its sixth Economics Conference with support from the Inter-American Development Bank. Experts presented research on monetary policy, U.S. tariff shocks, competition and development, and the effects of El Niño on financial stability in Paraguay.
The Federal Deposit Insurance Corporation published five enforcement orders issued in July 2026, comprising four prohibition orders and one termination of a consent order. No administrative hearings are scheduled for September 2026.
The Federal Deposit Insurance Corporation published its Community Reinvestment Act examination schedules for the fourth quarter of 2026 and first quarter of 2027. The schedules are based on institutions’ asset size and CRA ratings and remain subject to change.
The Financial Crimes Enforcement Network has proposed barring Banque Misr UAE from U.S. correspondent banking after identifying about USD 1.8 billion in potential Iranian shadow banking activity. U.S. covered financial institutions would also have to prevent indirect access through foreign correspondent accounts and apply special due diligence. The measure would apply only to Banque Misr’s United Arab Emirates branches.
The Uzbekistan Ministry of Economy and Finance discussed expanded financial and investment cooperation with a Hong Kong delegation. Talks covered diversified financing, investment in priority projects and the use of Hong Kong’s financial expertise, alongside potential cooperation in tourism, education and artificial intelligence.
The National Bank of the Kyrgyz Republic briefed exchange bureaus in Bishkek and the Chuy region on financial crime compliance, including risk mitigation and customer and beneficial owner identification.
The Polish Financial Supervision Authority designated POLSTR and its family of compound indexes as a significant benchmark under the EU Benchmarks Regulation, placing them under continued regulatory requirements and supervision. POLSTR’s use in Poland exceeded EUR 18.5 billion as of Aug. 26, 2026, and it is expected to play a growing role in the reform of WIBOR and WIBID.
The Central Bank of Poland published the results of its Aug. 28, 2026, NBP bills sale, which was conducted as a fine-tuning open market operation.
Moldova's National Commission for Financial Markets registered MDL 208 million in municipal and bank bond issues. It also ordered Easy Credit to recalculate interest on a consumer loan within 30 days and refund the amount collected without justification.
A Bank of England staff working paper finds that long-run reserve supply should modestly exceed the level that satiates bank demand. Its model places reserves at about 15% of banking sector assets under full information and adds no more than 2.5 percentage points as a buffer for uncertainty.
A Bank of England staff working paper finds that energy-intensive UK firms responded to the 2021-23 energy shock mainly by raising prices, building cash reserves and increasing homeworking, with little aggregate employment or exit impact. Small firms drove price pass-through, while large firms adjusted capital. The framework also produced real-time estimates for the 2026 energy shock within two months.
A Bank of England staff working paper finds that UK borrowers shifted toward two-year fixed-rate mortgages and reduced leverage after the September 2022 rate shock. Borrowers favored shorter fixes despite their higher price, consistent with seeking rate protection while retaining flexibility to refinance or extract equity sooner.
Federal Reserve Board Chair Kevin Warsh said inflation should remain the Fed’s main near-term focus, with PCE inflation still well above the firm 2 percent target despite a strong economy and stable labor market. He did not signal a rate decision but called for less forward guidance, greater policy flexibility and primary reliance on short-term interest rates.
European Central Bank Banking Supervision reported no indication that significant risk transfer conditions for Greek HAPS securitisations have changed since the initial assessments. It reviews and monitors each transaction using information from originating banks, while transaction-specific conclusions remain confidential.
The European Central Bank said the Eurosystem is reassessing the November 2026 TARGET Services releases after Swift extended its timeline, including whether to proceed while postponing the discontinuation of unstructured postal addresses.
The Financial and Consumer Services Commission of New Brunswick has updated its website to focus on regulatory and compliance information. It also launched a searchable investor warning database and moved financial literacy content to Finfo.ca.
The Central Bank of the Philippines set peso Discount Window Facility rates at 6.4710% for maturities of one to 90 days and 6.9420% for 91 to 180 days, effective Sept. 1, 2026.
The Central Bank of the Republic of Azerbaijan discussed digital transformation and artificial intelligence with insurance and capital markets representatives. The roundtable focused on implementation opportunities, digitalization challenges and balancing innovation with risk management.
The National Bank of the Kyrgyz Republic approved Farida Nurmakhamatovna Imaralieva as O!Bank’s head of internal audit.
The Czech National Bank said weaker first-half data increased the likelihood that 2026 GDP growth will be closer to 2%, below its previous 2.2% expectation. Second-quarter annual growth slowed to 1.9% as falling inventories offset strong fixed investment and household consumption.
The Securities and Exchange Board of India has postponed new ETF trading norms from September 1 to September 7, 2026. The requirements cover base prices, price bands, pre-open call auctions and close-out procedures, with all other provisions unchanged.
Japan's Ministry of Finance reported JPY 15,399.3 billion in foreign exchange intervention operations from July 30 through Aug. 26, 2026.
The Croatian Financial Services Supervisory Agency approved one privately offered alternative investment fund and two UniCredit target-maturity UCITS subfunds, while partially revoking parts of an earlier UniCredit fund decision. It also licensed six insurance distributors, approved two supervisory board appointments and made several register and administrative changes.
Taiwan's Financial Supervisory Commission and India's International Financial Services Centres Authority concluded a fintech cooperation agreement effective August 28, 2026. It provides for referral mechanisms and information sharing, with safeguards covering confidentiality and information use.
The National Securities and Stock Market Commission of Ukraine has updated the criteria for identifying entities important to capital and organized commodity markets. The changes address ownership risks, systemically important participants, critical infrastructure and qualifying self-regulatory organizations, while excluding entities supervised by the National Bank of Ukraine. No more than five new entities are expected to qualify, subject to a comprehensive assessment.
The Philippine Securities and Exchange Commission has opened a second consultation on revised reforms to public debt offerings, including separate debt disclosure regimes, a mid-market framework and a Medium-Term Note program. The draft would allow multiple note series over up to five years without separate approval for each issuance, subject to a current base prospectus and final-terms filing. It also refines mid-market eligibility and issuer reporting requirements.
Bank Negara Malaysia has reappointed Datuk Yogeesvaran Kumaraguru as an external member of the Monetary Policy Committee. His three-year term takes effect Sept. 1, 2026.
The Hong Kong Mortgage Corporation reported the allocation and social impact of proceeds from its outstanding 2023 and 2024 social bonds as of June 30, 2026, with selected information subject to independent limited assurance.
Dutch Authority for the Financial Markets Chair Laura van Geest called for binding commitments to curb regulatory burdens, citing estimated Dutch compliance costs of EUR 16.8 billion. The AFM plans clearer expectations, support on new legislation, more stable supervisory questionnaires and better feedback to firms.
The Bank of Italy estimates that 249,000 international overnight visitors came primarily for the 2026 Winter Olympics, spending EUR 394 million. Their average daily spending was more than twice that of other overnight visitors, with most Games-related tourism concentrated in Lombardy.
The Bank of Italy found that nearly 1.4 million overnight visitors came to Italy primarily for the 2025 Jubilee and spent EUR 1.6 billion. Including travelers who attended Jubilee activities but would have visited anyway, participants numbered about 3.6 million and spent EUR 4 billion, with the impact concentrated in Lazio.
Kazakhstan will require compulsory motor liability insurance payments to be transferred directly to beneficiaries’ bank accounts from October 21, 2026. Insurers must bear all transfer costs, ensuring recipients receive payments without commission deductions.
China's Ministry of Finance and National Financial Regulatory Administration have revised professional liability insurance rules for accounting firms, effective Jan. 1, 2027. Minimum aggregate coverage is the higher of CNY 1 million per partner or CNY 100 million for firms serving public interest entities, with separate revenue- and ownership-based thresholds for other firms. Firms have one year from implementation to comply.
The Mauritius Financial Services Commission reiterated that DistributeX and its promoters are not licensed or regulated by the commission. It urged caution over features associated with pyramid schemes, including upfront payments, recruitment incentives and promises of substantial returns.
The National Bank of the Republic of Tajikistan trained financial credit institutions and government bodies on preparing payment orders for taxes and other mandatory payments. It advised institutions to provide regular training to reduce errors and ensure the correct use of budget revenue classification codes.
The National Bank of Tajikistan will place its digital tax platform for individual entrepreneurs into a three-month technical trial from September 2026. Full implementation will depend on testing of data exchange, system reliability and institutional readiness.
The Vietnam State Securities Commission requires Ha Xuan Thanh to pay VND 1 million to complete the reissuance of his fund management securities practice certificate. The certificate must be collected within one year or it will be canceled.
The China Securities Regulatory Commission has issued 12 measures to shift real estate developer financing toward project-specific assessments and expand access to refinancing, bonds, securitization, REITs and private funds. The framework also tightens disclosure, use-of-proceeds and look-through supervision, while strengthening arrangements for delistings and defaulted bond resolution.
China's National Financial Regulatory Administration has issued five trial measures covering housing, commercial property, urban renewal and real estate trust financing. The framework introduces project-centered financing and closed-loop fund management, while easing some personal housing loan parameters and strengthening requirements for trust companies.
China's National Financial Regulatory Administration issued five trial measures covering residential development, mortgages, commercial real estate, urban renewal and real estate trusts. The framework strengthens project-level and closed-loop fund management, while moving disbursement of mortgages on presold homes to completion filing and easing certain borrower access parameters. It also introduces stage-specific commercial property rules and dedicated requirements for urban renewal lending and trust business.
The People’s Bank of China and the National Financial Regulatory Administration have overhauled real estate credit rules, introducing a lead-bank model and ring-fenced project funding. Personal mortgage terms may extend to 40 years, while loans for presold homes may be disbursed only after project completion filing.
The Bank of Ghana outlined reforms for microfinance and specialized deposit-taking institutions covering capital, governance, risk management and sector structure. Institutions will be grouped into four categories, with aligned regulatory materials to be published for industry comment. Implementation timelines and transition arrangements remain under discussion.
The Reserve Bank of Australia’s balance sheet contracted by AUD 2.27 billion to AUD 358.95 billion as of Aug. 26. Exchange Settlement balances fell sharply, while other deposits increased, and both foreign and Australian dollar assets declined.
The Financial Markets Standards Board’s inaugural Market Voices podcast examines how AI is being integrated into existing electronic trading systems, governance and market infrastructure. The discussion focuses on human oversight, current risk frameworks and the need for practical guidance as AI capabilities evolve.
The French Financial Markets Authority has outlined the ONDE filing process for managers’ transaction disclosures. Managers and closely associated persons must report covered transactions within three business days, and the authority publishes the disclosures in French and English.
The Central Bank of Luxembourg’s consumer confidence indicator rose to minus 8 in August 2026 from minus 10 in July. All four components improved, led by households’ expectations for the general economy and their assessment of their past financial position.
The French Financial Markets Authority now publishes Article 19 managers’ transaction disclosures in French and English, helping eligible officers and directors of European Economic Area foreign private issuers meet a condition of the SEC’s Section 16(a) exemption. The arrangement applies only to persons subject to the Market Abuse Regulation notification regime.
The Central Bank of Taiwan reported July 2026 liquid reserve assets of TWD 12,834.8 billion, down TWD 156.1 billion from the previous month. Required reserves were TWD 5,535.5 billion based on liabilities of TWD 55,354.9 billion and the 10% statutory minimum ratio.
The South Korea Financial Services Commission has published a joint government strategy that would raise youth investment 53.5% to KRW 43.3 trillion in 2027. The package expands employment, education, housing and asset-building support, alongside new family benefits and a planned Future Response Fund.
South Korea's Ministry of Economy and Finance has unveiled a youth employment plan targeting more than 300,000 trained workers, 200,000 jobs and 100,000 young entrepreneurs by 2030. It expands first-job support, hiring incentives, job matching and career development, with regional small and midsize enterprise employees eligible for combined benefits worth about KRW 1 million a month for two years. Further details will be provided in the 2027 budget proposal.
The National Commission for Financial Markets reported Parliament’s second-reading adoption of an EU-aligned overhaul of Moldova’s capital markets framework. The law introduces a single authorization regime, stronger retail investor safeguards, enhanced transparency and wider supervisory powers. It will take effect six months after publication in the Official Gazette.
China’s National Financial Regulatory Administration discussed Hong Kong’s position as an international financial center and Bank of East Asia’s business development with the bank’s co-chief executive.
The Angola Capital Markets Commission participated in an insurance conference organized by the Angolan Insurance Regulation and Supervision Agency. Discussions covered mandatory insurance compliance, stronger oversight, institutional coordination, innovation and inclusion.
Greece’s Ministry of National Economy and Finance reviewed existing private debt measures in response to PASOK proposals, arguing that several are already in place and others conflict with European rules. The framework includes primary residence protection from Sept. 21, up to 240 installments, mandatory creditor restructuring offers and a fixed 3% rate. Nonperforming loans held by banks and servicers have fallen from EUR 99.7 billion in 2018 to EUR 72.34 billion.
The Central Bank of Türkiye has completed its university student paper contest and published the winning papers. The winners will present their work at the İstanbul Financial Center, and the contest will return in the 2026–2027 academic year.
The Central Bank of Russia reported that second-quarter net inflows into UIFs rose 1.6% to RUB 832.7 billion, led by open-end funds focused on debt securities and money market instruments. Closed-end UIF inflows declined 2.9%, while assets under trust management increased 5% to RUB 3.7 trillion.
The Hong Kong Monetary Authority and regional partners hosted the fourth Financial Leadership Training Program for more than 35 senior public-sector and international organization representatives. Discussions focused on artificial intelligence, transition finance, financial digitalization and regional macroeconomic and financial stability.
The Bank of Finland reported that average housing loan maturities reached a record of nearly 25 years after the maximum permitted maturity was extended to 40 years. New housing loan drawdowns fell 6% year on year to EUR 1.2 billion, while the average interest rate rose to 3.28%.
Danish investors held DKK 471 billion of Asian listed shares at the end of July 2026, almost twice the July 2023 value and equal to 10% of their listed equity holdings. The insurance and pension sector accounted for DKK 300 billion, while Chinese shares totaled DKK 72 billion, including DKK 41 billion issued through Cayman Islands holding companies.
Bank Negara Malaysia reported that headline and core inflation eased to 1.8% in July, while the trade surplus widened to MYR 22.5 billion on continued export strength. Private non-financial sector credit grew 6.5%, and banks maintained adequate liquidity buffers and stable asset quality. The ringgit edged lower against the U.S. dollar, while Malaysian equities gained 3.7%.
The Central Bank of the Philippines projects August 2026 inflation at 5.5% to 6.5%, with food and fuel costs driving upward pressure. Lower meat and electricity prices and peso appreciation are expected to provide some offset.
The Hong Kong Insurance Authority immediately suspended FLMI as an accepted education qualification for insurance intermediary licensing after a joint operation with police involving 15 arrests. The authority will review all cases in which the qualification was obtained through the examination center under investigation.
The Bank of the Lao PDR attended the launch of BCEL’s Mastercard Platinum Smart Pay card, which converts purchases of USD 500 to USD 10,000 into installments at rates starting from 0.65% per month. The card supports online, swipe and contactless payments at Mastercard merchants worldwide.
The Securities Commission of The Bahamas is consulting on higher fees for entities and individuals regulated under the Securities Industry Act, 2024. The replacement rules would take effect on Jan. 1, 2027, with contracts for differences firms facing BSD 20,000 application fees and BSD 75,000 registration and annual renewal fees.
The Securities Commission of The Bahamas is consulting on higher and clarified fees for entities regulated under the Investment Funds Act, 2019. The proposals include per-fund charges for investment fund managers and a new fee for administrators seeking extensions to file audited financial statements. The replacement fee rules are proposed to take effect on Jan. 1, 2027.
The Securities Commission of The Bahamas is consulting on revised fees for financial and corporate service providers, including higher charges and new administrative fees. Certain lenders would pay a quarterly fee equal to 1% of new or increased loan principal, which could be passed to borrowers. The rules are scheduled to take effect on Jan. 1, 2027.
The Securities Commission of The Bahamas has proposed higher and expanded fees for regulated digital asset businesses from Jan. 1, 2027. The draft introduces specific charges for digital asset exchanges, multiple business activities and extensions to file audited financial statements.
The Securities Commission of The Bahamas is consulting on a one million dollar minimum deposit requirement for CFD firms, with higher regulatory capital required where applicable. Firms would set Commission-approved margin policies for retail clients, while professional clients would be exempt from minimum margin requirements.
The US Commodity Futures Trading Commission ordered Gabriel Perez to disgorge USD 107,539.02, pay a USD 65,000 penalty and serve a three-year trading ban for insider trading in presidential mention market event contracts. The order finds that he used confidential White House speeches to make profitable trades in 39 of 43 contracts. His extraordinary cooperation resulted in an approximately 40% penalty reduction.
South Korea's Ministry of Economy and Finance reported that IDB Invest has provided USD 700 million for Posco Holdings’ lithium mining and production project in Argentina. The financing provides operating funds, low-interest lending and tax benefits, while supporting South Korea’s critical mineral supply chain strategy.
The People's Bank of China will issue three artificial intelligence-themed gold and silver commemorative coins on Sept. 4. The legal-tender set comprises a 5-gram gold coin with a maximum mintage of 10,000 and two 15-gram silver coins limited to 20,000 each.
Bank Negara Malaysia reported USD 132.067 billion in official reserve assets at end-July 2026 and assessed the reserves as usable. Predetermined 12-month foreign currency outflows total USD 8.306 billion, while net short forward positions stood at USD 26.897 billion.
The South Korea Financial Services Commission announced KRW 1.6 trillion of National Growth Fund support for seven projects covering robotics, content technology, semiconductors, batteries, biotechnology and future-vehicle components. Major packages include KRW 350 billion for Wonik Robotics, KRW 220 billion for CJ 4DPLEX, KRW 560 billion for Doosan Tesna and KRW 300 billion for LG Energy Solution. Cumulative approvals and fund formations through August reached KRW 17.9 trillion across 31 projects.
South Korea's Financial Services Commission will expedite 11 of 20 housing finance measures and has asked financial institutions to increase funding for new construction. Dedicated centers for project finance and construction company financing difficulties will begin operating on September 1 through the Financial Supervisory Service and Korea Development Bank.
Preliminary first-half 2026 net income rose to KRW 765.8 billion at savings banks and KRW 714.1 billion at mutual financial cooperatives. Delinquency rates increased in both sectors, while nonperforming loan coverage declined. The Financial Supervisory Service will encourage further resolution of weaker loans and sufficient provisioning.
The Australian Prudential Regulation Authority has published comparative performance data and test outcomes for most multi-sector accumulation products. Test failures rose slightly in 2026 but remained within the range recorded over the past three years, and APRA will apply heightened scrutiny where appropriate.
Angola's Ministry of Finance highlighted ARSEG's focus on modern regulation, risk-based supervision, market professionalization and stronger consumer protection. Conference participants also called for coordinated digital finance strategies and wider access to insurance, particularly among underserved low- and middle-income groups.
Bank of Ghana Governor Johnson Pandit Asiama outlined 2026 priorities for price stability, financial resilience and deeper capital markets. The Bank is developing virtual asset service provider regulations and a framework to encourage bank equity listings. It also plans to support bond market liquidity, private debt issuance and long-term investment by domestic and diaspora savers.
The Bank of Ghana inaugurated the Virtual Assets Coordinating Committee to coordinate implementation and supervision of Ghana’s virtual asset framework. The central bank will chair the multi-agency body for two years, while operational guidelines and regulatory sandboxes are being developed toward full implementation by 2027.
The U.S. Securities and Exchange Commission charged 38 entities with using allegedly false Forms ADV to appear to be legitimate advisory firms. The filings included false contact details, near-identical fund data and unverifiable auditors, and the entities failed to substantiate their claims. The SEC removed the filings and is seeking injunctions and civil penalties.
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation finalized uniform standards for unsafe or unsound practices and examination findings. The rule prioritizes material financial risks, governs the issuance of Matters Requiring Attention and limits its scope to institutions supervised by the agencies.
The Office of the Comptroller of the Currency revised its enforcement and MRA policies to prioritize material financial risks, substantive violations and tailored corrective action. A proposed rule would classify violations as substantive or technical and provide a mechanism for addressing non-substantive violations outside the MRA process.
Argentina Securities Commission Vice President Sonia Salvatierra outlined an ongoing overhaul aimed at simplifying capital markets regulation and reducing costs. The changes expand automatic authorizations while retaining transparency and supervisory safeguards.
The Argentina Securities Commission outlined its proposed framework for Labor Assistance Funds, which remains under public consultation. The funds would operate through publicly offered financial trusts or open-ended mutual funds under the commission’s supervision.
The Central Bank of Nicaragua reported that economic activity grew 1.8% year over year in June 2026 and 3.6% in the first half. Strong growth in energy and water, construction, hospitality and livestock was partly offset by contractions in mining, manufacturing and fishing.