The Islamic Financial Services Board is consulting on a revised risk management standard for takāful undertakings. The draft strengthens fund level supervision and proposes tighter controls over reserves, operator remuneration, surplus distributions and reliance on qarḍ. It would cover family, general and composite takāful undertakings, including windows and subsidiaries, while excluding retakāful undertakings.

U.S. Senate Banking Committee ranking member Elizabeth Warren asked FHFA Director Bill Pulte to explain the agency’s alleged noncompliance with GAO information requests concerning mortgage fraud referrals and financial audits. She linked the matter to cuts that she said are forcing FHFA’s inspector general to wind down operations and requested answers by Oct. 16, 2026.

The Financial Industry Regulatory Authority fined Revere Securities USD 800,000 for AML and supervisory failures involving predominantly foreign based small cap IPOs with signs of potential manipulation. Revere failed to investigate suspicious customer information and coordinated trading and must complete an independent compliance review and implement the consultant’s recommendations.

Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman announced a five-region supervisory structure designed to clarify accountability and align oversight with state boundaries. Examiners will remain in existing locations, while regional leaders will be accountable for supervisory activity. The Board will also consider updating regulatory thresholds and the large-bank tailoring framework later in 2026.

Germany’s Federal Financial Supervisory Authority has adopted EBA guidelines for identifying banking dependent activities under the Capital Requirements Regulation. A company is dependent where its business model could not operate or would be materially impaired without group provided banking products or services, while dependence on financial resources covers loan transactions, guarantees and credit commitments.

The ADGM Financial Services Regulatory Authority has proposed guidance for regulated firms managing risks from DeFi engagements. It sets expectations for governance, due diligence, monitoring, infrastructure dependencies and the treatment of resulting exposures within the existing regulatory framework. The proposal does not create separate DeFi activities, asset categories or a protocol approval regime.

HM Treasury has appointed six joint lead managers for the DIGIT pilot, a digitally native UK government debt issuance planned for the first quarter of 2027. The instrument will be issued through the Digital Securities Sandbox, with HM Treasury also preparing supporting legislation and possible further issuances subject to the pilot’s success.

A Bank for International Settlements working paper finds that geopolitical shocks raise gold returns most when financial conditions are loose and geopolitical risks are escalating. Under those conditions, one standard deviation shocks increase returns by up to 1.3% for threats and 1.2% for realized events, primarily because easier credit and liquidity conditions facilitate portfolio reallocation.

The Dubai Virtual Assets Regulatory Authority has clarified minimum expectations for independent audits of virtual asset service providers’ reserve assets after reviewing 2025 proof of reserve reports. Audits should verify 100% one-to-one backing, segregation, wallet control, daily reconciliation and any use of client assets. Reports must clearly document evidence, exceptions, scope limitations and remediation.

India’s International Financial Services Centres Authority set five expectations for regulated entities covering consumer-centered design, clear disclosures, security, complaint handling and accountability for outsourced technology. Conference discussions focused on AI-enabled fraud prevention, while the IFSCA Academy launched certification programs in cybersecurity, corporate governance and insurance.

The State Bank of Pakistan reported that digital channels processed 13.2 billion transactions and accounted for 92% of formal retail payment volume in fiscal 2025-26. Total retail payments reached 14.3 billion transactions valued at PKR 673 trillion, while mobile services and expanded merchant infrastructure drove the increase.

A Bank of Italy paper proposes a voluntary two tier EU definition of green loans for construction and real estate financing. Tier 1 would retain full EU Taxonomy alignment, while Tier 2 would use simplified energy performance criteria such as certificate ratings, primary energy demand benchmarks and renovation improvements. Separate disclosure would preserve the distinction between the two categories.