The People's Bank of China has authorized DBS Bank Ltd to act as the renminbi clearing bank in Singapore under its memorandum of cooperation with the Monetary Authority of Singapore.
The Securities and Exchange Commission of Pakistan has issued revised ESG Disclosure Guidelines for listed companies, aligning climate-related disclosures with the Pakistan Green Taxonomy. Voluntary until June 2029, the guidelines introduce a three-phase schedule for mandatory reporting. They provide a framework for disclosing climate risks, opportunities, and taxonomy-aligned activities, with plans for capacity-building and stakeholder engagement.
Latvia's Ministry of Finance announced that Finance Minister Arvils Ašeradens and State Secretary Baiba Bāne will attend Eurogroup, ECOFIN, and ESM Board meetings in Brussels on 11–12 December. Key topics include the euro area economic outlook, EU economic governance, the digital euro package, customs reform, and EU financial support for Ukraine. The meetings will also address the IMF's growth assessment, euro area budgetary plans, ESM treaty adjustments, and the Savings and Investment Union.
The Financial Conduct Authority (FCA) issued Policy Statement PS25/22, detailing near-final rules for a new support regime to enhance consumer access to pension and investment advice. The framework allows firms to offer suggestions based on pre-defined consumer segments, with restrictions on pension consolidation and specific annuity recommendations. It includes a GBP 500,000 minimum capital requirement for firms, a ban on third-party commissions, and outlines authorisation expectations, with final rules expected from April 2026.
The Central Bank of Colombia issued External Operational and Services Circular DEP-478 regarding COP 100,000 banknotes.
The Central Bank of Colombia issued External Operational and Services Circular DEP-477 regarding COP 50,000 banknotes.
The Central Bank of Colombia issued External Operational and Services Circular DEP-475 regarding COP 10,000 banknotes.
Guernsey's Ministry of Finance announced that the Finance Sector Policy Framework, developed by Oliver Wyman, has entered its final phase. The framework aims to guide initiatives for the competitiveness and growth of Guernsey’s finance industry, covering sectors such as funds, insurance, banking, and sustainable finance. A final report is anticipated in Q1 2026 to outline the policy direction for future development.
The Financial Conduct Authority (FCA) finalized changes to simplify insurance rules, aiming to reduce compliance costs while maintaining protections for smaller commercial customers. It proposed streamlining the FCA Handbook by removing certain insurance data returns and updating rules on client assets. Additional changes are planned for next year, including reviewing international rule applications and piloting sector guides for outcomes-based regulation.
The Financial Conduct Authority fined Nationwide Building Society GBP 44.08m for inadequate anti-financial crime systems affecting personal current account customers from October 2016 to July 2021. Nationwide failed to maintain effective customer due diligence, risk assessments, and transaction monitoring, and did not manage financial crime risks associated with personal accounts used for business purposes. The fine reflects a 30% settlement discount, reduced from GBP 62.97m.
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined EFG Bank AG HKD 10.85 million for regulatory breaches and internal control failures related to product due diligence, record-keeping, and late reporting from 2015 to 2020. The enforcement action followed an investigation initiated by EFG’s self-report and a referral from the Hong Kong Monetary Authority. EFG will implement Enhanced Complaint Handling Procedures to address customer complaints.
The Financial Services Regulatory Authority of Ontario released its Annual Review Guidance and Benchmarks for auto insurance, focusing on fair and reasonable rate changes. Key updates include expectations for insurers to adjust pricing for high-theft-risk vehicles, electric vehicles, and app-based rideshare use, with actuarial support. Insurers are also expected to recognize foreign driving experience verified by the Ministry of Transportation.
The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on H.E.S.T Australia Ltd (HESTA) due to deficiencies in risk management and board governance during a transition to a new outsourced administration provider, causing significant disruption to member services. HESTA must conduct independent reviews of its risk management framework and board effectiveness, including its handling of the transition.
The Australian Prudential Regulation Authority's quarterly report ending 30 September 2025 shows growth in profits, assets, and capital for Authorised Deposit-taking Institutions (ADIs), with increased property exposures. Key metrics include a net profit after tax of 41.1 billion AUD (up 5.1%), total assets of 6,681.7 billion AUD (up 5.7%), and a capital base of 461.8 billion AUD (up 5.6%). The capital ratio rose to 20.4%, with liquidity and funding ratios at 133.3% and 115.9%. Residential credit reached 2,426.5 billion AUD (up 6.0%), non-performing loans at 1.04%, new housing loans at 196.3 billion AUD (up 18.9%), and commercial property exposure at 510.3 billion AUD (up 9.2%).
Sweden's Riksbank and other Nordic central banks published a study highlighting that most Swedish bank customers lack access to instant payments across banks, with Swish as the primary exception. In contrast, other Nordic countries offer widespread instant payments through digital channels. The study also notes the high prevalence of digital payments across the Nordics, with cash usage lowest in Iceland and Norway.
Sweden's Riksbank released minutes from the Financial Stability Council meeting, assessing the financial system as stable despite high geopolitical and economic uncertainty. The Finance Minister noted strong risk appetite and high asset valuations, with trade policy developments stabilizing. Discussions included civil preparedness, operational risks like cyberattacks, and structural changes in financial services affecting consumer confidence and market resilience.
The International Financial Reporting Standards Foundation has released educational resources to aid in the implementation of the third edition of the IFRS for SMEs Accounting Standard. The package includes 11 modules, five webcasts, and three podcasts covering key updates and implementation guidance. Additional materials feature a project summary, feedback statement, and a marked-up version highlighting changes from the second edition.
The Austria Financial Market Authority reported a 67% increase in insurers' profitability for the first nine months of 2025, with results from ordinary activities reaching EUR 1.91 billion. Premium volumes rose 5.1% to EUR 18.84 billion, driven by growth in health, non-life, and accident insurance. The median Solvency Capital Ratio improved to 271%, reflecting enhanced financial stability.
The World Bank's China Economic Update reports solid Q3 2025 momentum, with GDP growth at 4.9% for 2025 and 4.4% for 2026, driven by domestic demand. Risks include property-sector challenges, labor-market weakness, and trade policy uncertainty, while potential upsides are linked to increased fiscal spending and property sector stabilization. The report suggests enhancing non-bank financial institutions and capital-market transparency to boost returns and shift savings towards consumption.
The Hong Kong Monetary Authority and the Securities and Futures Commission (SFC) issued a joint enforcement update following the SFC's reprimand and HKD 10.85 million fine against EFG Bank AG for due diligence, record-keeping, and reporting failures from 2015 to 2020. EFG failed to consider special features in bond assessments, update policies timely, and provide adequate customer information for complex products. The SFC considered EFG's remedial actions and cooperation in determining sanctions, noting plans for Enhanced Complaint Handling Procedures.
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing messages linked to banks like The Bank of East Asia, Shanghai Commercial Bank, and Bank of China (Hong Kong). The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks 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.
Greece's Ministry of National Economy and Finance released a statement by Minister Kyriakos Pierrakakis, following his election as President of the Eurogroup, outlining priorities for unity and execution of key euro area initiatives. He emphasized the EU’s Savings and Investments Union agenda, the digital euro, and strengthening fiscal foundations. Pierrakakis also highlighted the need for cooperation and flexible implementation in addressing shared challenges like defence pressures, technological innovation, and macroeconomic imbalances.
Greece's Ministry of National Economy and Finance highlighted Deputy Minister George Kotsiras' remarks at the UN Global Compact Network Greece event, emphasizing sustainable development as central to the country's growth model. Strategies include fiscal stability, effective EU fund utilization, and a fair tax policy for balanced growth. Kotsiras noted fiscal responsibility, structural reforms, and accelerated fund absorption as drivers of public debt reduction and market confidence, alongside recent tax reforms and green transition initiatives.
Greece's Minister of National Economy and Finance, Kyriakos Pierrakakis, is attending the Eurogroup and ECOFIN meetings in Brussels as a candidate for Eurogroup president. Discussions will cover macroeconomic developments, national budgets, and Bulgaria's accession to the European Stability Mechanism (ESM). ECOFIN will address the Savings and Investment Union, digital euro legislation, Customs Union reforms, and euro area economic policy recommendations under the 2026 European Semester.
Greece’s Ministry of National Economy and Finance announced Minister Kyriakos Pierrakakis's election as Eurogroup President, recognizing Greece’s economic progress. The statement contrasts past challenges with achievements like high growth and debt reduction. It outlines key policy areas for the presidency, including European border security, trade protectionism, technological advancements, and future EU investment financing.
Greece’s Ministry of National Economy and Finance announced the election of Minister Kyriakos Pierrakakis as Eurogroup President, marking a historic decision for Greece. The statement highlights Greece's economic policy since 2019 and improved international credibility, with expectations for the Eurogroup to address high prices, housing, and strengthen Europe's economic foundations.
Greece’s Ministry of National Economy and Finance announced Finance Minister Kyriakos Pierrakakis's election as Eurogroup President, marking a milestone for Greece. The statement highlights Greece's return to European decision-making prominence, attributing this to recent reforms and achievements under Prime Minister Kyriakos Mitsotakis. Pierrakakis's experience is expected to bolster the resilience and competitiveness of the European economy.
Finland's Ministry of Finance proposed adjustments to housing finance rules to support the housing market and construction. Key changes include extending the maximum mortgage maturity to 35 years and allowing the Financial Supervisory Authority to cap mortgages at 95% of a home's value. The proposal also allows for adjustments to housing company financing rules based on economic conditions.
New Zealand's Serious Fraud Office announced that the Christchurch High Court sentenced Thomas Alexander Kokouri Tuira and Aroha Awhinanui Tuira for a Ponzi scheme defrauding over 55 investors of $3.9 million NZD. The scheme, which operated from May 2014 to May 2021, targeted Maori communities and involved deceptive practices, with both offenders pleading guilty to obtaining by deception.
The Bank for International Settlements assessed the G20 Roadmap for cross-border payments, concluding the 2027 targets are unlikely to be met. Despite largely complete international policy actions, uneven jurisdiction-level implementation has led to modest end-user improvements. The bulletin recommends prioritising domestic implementation and public-private collaboration, highlighting interoperability, standardisation, and emerging technologies like fast payment system interlinking and Nexus Global Payments.
The National Bank of Bulgaria has confirmed a systemic risk buffer of 3% for all banks, applicable to all exposures in Bulgaria. This decision, aligned with macroprudential procedures involving the European Central Bank, reflects persistent macroprudential and systemic risks, including geopolitical uncertainties and trade fragmentation. The decision follows notification to the European Systemic Risk Board and relevant EU authorities.
Bulgarian National Bank Governor Dimitar Radev met with European Stability Mechanism (ESM) officials in Luxembourg to discuss Bulgaria's planned euro adoption on 1 January 2026 and future ESM membership. The visit included a symbolic flag-raising ceremony and a speech by Radev at the ESM Annual Dinner. Meetings also involved Bulgarian experts and Deputy Finance Minister Metodi Metodiev.
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye has revoked TRIVE Sigorta ve Reasürans Brokerliği AŞ’s licences for life, non-life, and reinsurance brokerage at the firm's request to cease operations. The decision, made under Decision No. 1400, references Article 21(2) of Insurance Law No. 5684 and Article 20 of the Insurance and Reinsurance Brokers Regulation.
Qatar Central Bank's Deputy Governor participated in the Islamic Financial Services Board's 47th Council Meeting in Marrakesh, Morocco, on 10 December 2025, where agenda items were discussed and decisions made.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reminded consumers to implement protective measures against credit fraud. Key recommendations include using the “Stop credit” service via eGov.kz, maintaining confidentiality of security codes, avoiding suspicious links, and regularly checking credit reports.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Tasbolatov Nurbek Serikboluly as an "other senior executive officer" at BCC Invest JSC, a subsidiary of Bank CenterCredit JSC. This decision is documented in protocol No. 279/РЦБ/Т.
The Thailand Office of Insurance Commission (OIC) sent a team to Hat Yai, Songkhla, to expedite insurance support for flood-affected policyholders by accelerating claims handling and expanding loss-assessment capacity. Insurers must pay motor insurance claims within 7 days and fire/property policies within 3 days for total losses, and streamline processes for partial losses. The OIC also identified a need for increased insurance education for SMEs in the region, noting many remain uninsured.
The Arab Monetary Fund's latest "Arab Capital Markets Monthly Bulletin" reports a 1.20% rise in the AMF Composite Index for October 2025, driven by strong quarterly results in the banking sector. Gains were noted in eleven exchanges, with Amman leading at 9.39%, while Iraq and Damascus experienced the largest declines.
At the Human Economic Forum, Andrea Vivoli, Director General of the Central Bank of San Marino, stressed the need for banks to integrate social sustainability into governance for equitable development. He noted the complexity of European regulations complicating long-term strategies and suggested prudential incentives for social-sustainable financing and public-private partnerships to manage impaired-loan portfolios for financial re-inclusion.
The Jordan Securities Commission attended the 20th Annual High-Level Meeting on Financial Stability and Supervisory Priorities in Abu Dhabi, discussing emerging risks, stablecoin regulation, AI use by regulators, and liquidity risk management, organized by the Arab Monetary Fund with the Financial Stability Institute and Basel Committee on Banking Supervision.
The Brazilian Superintendence of Private Insurance (SUSEP) announced the enforcement of Brazil’s Insurance Contract Law (Law No. 15.040/2024), which mandates clarity in insurance contracts and favors the insured in document interpretation. The law sets time limits for proposal assessments, standardizes contract rules, and restricts unilateral cancellations. SUSEP's future rulemaking will focus on residual technical details.
The Brazilian Superintendence of Private Insurance (SUSEP) hosted a virtual event on Joint Resolution No. 12/2024, impacting Brazil's insurance and credit ecosystem. The resolution, a regulatory milestone, aims to enhance system interoperability. Contributions from the Central Bank of Brazil and the Ministry of Finance emphasized coordinated regulatory action. Discussions covered technological maturity, interoperability challenges, and platform integration opportunities across credit, pension, and capitalisation markets.
The National Bank of the Republic of Tajikistan held a seminar in Bokhtar to enhance credit financial institutions' staff skills in preventing money laundering, terrorist financing, and weapons proliferation financing. Attended by 30 specialists, it covered national AML/CFT/CPF systems, FATF standards, and practical sessions on preventing criminal activities. The National Bank plans similar seminars in other regions.
The Central Bank of the Philippines will issue a PHP 10 ASEAN coin in January 2026 to commemorate its role as ASEAN Chair. The coin will circulate as legal tender alongside existing PHP 10 coins. Banks are instructed to promote the coin using BSP-prescribed materials across various platforms.
The Central Bank of Sint Maarten & Curacao hosted its third annual Fintech Conference, focusing on regulation's role in consumer protection and innovation support. Key topics included digital-asset regulation, stablecoins, financial inclusion, and the future of banking. The Global Blockchain Business Council and The Luxembourg House of Financial Technology pledged to enhance the region's fintech ecosystem by addressing gaps in payment infrastructure.
The New Zealand Financial Markets Authority has censured Opes Group Holding Company Limited for failing to meet obligations under its financial advice provider licence, citing issues in record keeping, client understanding, and conflicts of interest management. Although no client harm was identified, the FMA noted potential risks to customer outcomes and acknowledged Opes' cooperation and voluntary remediation plan.
The South African Reserve Bank’s Prudential Authority assessed money laundering, terrorism financing, and proliferation financing risks in the life insurance sector from January 2022 to December 2024. Inherent risks are rated medium-high, medium-low, and low, with residual risks at medium, medium-low, and low, respectively. Key threats include fraud, corruption, and tax evasion, with vulnerabilities in complex products and non-face-to-face onboarding, while controls for terrorism and proliferation financing are weak.
The Italian Institute for Insurance Supervision (IVASS) has ordered the blocking of five websites for unlawfully offering insurance services, bringing the total number of blocked sites to 328 since November 2023. IVASS cautions consumers against policy offers via instant messaging and prepaid credit card payments, and advises verifying websites against its official lists of authorised intermediaries.
The National Bank of Serbia has modernized the DinaCard system, enhancing security, interoperability, and efficiency in payment transactions. Key upgrades include a high-performance DinaCard Switch, DinaCard Secure for strong customer authentication, and advanced dispute management solutions. These improvements align with global standards, enabling Serbian banks to issue Dina payment cards with enhanced security features.
South Korea's Financial Services Commission has launched the National Growth Fund, a five-year KRW150 trillion program to support high-tech industries, supply chains, and startups. The fund involves a private-public strategy committee and a two-tier decision-making process, with funding split equally between government bonds and private sector contributions. Investment is planned across equity, infrastructure, and lending, focusing on regions outside Seoul, with initial projects targeted for early 2026.
The Central Bank of Estonia’s Supervisory Board reviewed a new initiative to counter payment fraud and awarded Deputy Governor Veiko Tali an end-of-term bonus for his contributions to financial-sector crisis readiness. The meeting also addressed routine economic updates, including a draft economic forecast and the 2026 work schedule. The economic forecast will be published on 19 December, with the 2026 budget approval planned for December.
The Central Bank of the Republic of Kosovo announced enhancements to its supervisory approach, aligning with European standards for anti-money laundering and countering the financing of terrorism (AML/CFT). Key developments include a shift to a risk-based supervision model, adoption of new AML/CFT regulations, and improved traceability of virtual asset transfers. These reforms prepare for an upcoming MONEYVAL assessment and ongoing inter-institutional cooperation.
The European Central Bank (ECB) released a report with recommendations from its High-Level Task Force on Simplification to reduce complexity in the European prudential regulatory framework for banks. Key proposals include streamlining capital requirements, enhancing proportionality for smaller banks, and harmonizing supervisory processes. The ECB Governing Council endorsed these recommendations, emphasizing resilience, EU harmonization, and international cooperation, with implementation contingent on support from EU and national authorities.
The Guernsey Financial Services Commission released a Digital Finance Consultation Paper to enhance digital finance adoption, focusing on regulatory clarity for emerging technologies and amendments to the Virtual Asset Service Provider regime. Key proposals include tokenisation of collective investment schemes, a framework for stablecoin issuers, and measures for digital asset custody services. The Commission is engaging stakeholders through its Digital Forum to discuss these.
The Guernsey Financial Services Commission reported a 0.7% quarterly increase in the total net asset value (NAV) of Guernsey funds to GBP 272.8 billion, despite a 5.5% annual decline. Closed-ended funds saw a 0.2% quarterly decrease, while open-ended funds rose 5.6% over the same period. Guernsey Green Funds held NAV of GBP 4.5 billion at the end of the quarter.
The Albania Financial Services Authority reported that the net asset value of collective investment undertakings reached ALL 68.13bn (EUR 704m) as of 30 September 2025, marking an 11.03% increase since 31 December 2024. Investor numbers rose by 10.32% to 41,686 during the same period. Six AMF-licensed management companies operated 16 investment funds, with portfolios primarily invested in Albanian government securities.
The Brazil Securities Commission (CVM) imposed fines and temporary disqualifications on five individuals linked to a 2019 capital increase at Indústrias J.B. Duarte S.A., now Blue Tech Solutions E.Q.I S.A., for governance and disclosure violations. Key sanctions include a BRL 5,713,704.36 fine and a 104-month management ban for Laodse Denis de Abreu Duarte. In separate cases, the CVM acquitted individuals and entities involved in an issuer share buyback, an audit engagement, and alleged board member power abuse.
The Seychelles Financial Services Authority has terminated the accreditation of Mr. Hakam Kamel Mousa Thalji as the representative of Baz Capital Markets Ltd, effective 6 November 2025, under section 4(1)(m) of the Financial Services Authority Act 2013.
The Bank of England is consulting on draft rules to exempt post-trade risk reduction (PTRR) transactions from the derivatives clearing obligation under UK EMIR. The Bank argues that PTRR services, including portfolio compression and rebalancing, are non-price forming and market-risk neutral, and that clearing requirements could limit their effectiveness. The proposal outlines eligibility conditions for PTRR services and requires providers to notify the Bank of service offerings and changes.
The Central Bank of Paraguay has launched, through its Securities Superintendency, a new regulatory reporting platform for the securities and products market. It replaces legacy reporting formats with an integrated database system that standardizes submissions, automates validation and consolidates market data in one environment. Rollout will be phased during the first half of 2026 with training, pilots and technical support for regulated entities.
The Central Bank of Russia's latest Monitoring of Sectoral Financial Flows report shows a 2.7% increase in incoming payments in November compared to the 2025 Q3 average, with a 2.4% rise excluding certain sectors. Growth was noted across most industries except investment demand sectors, while retail saw a decline, suggesting a potential slowdown in consumer activity.
The Central Bank of Russia has issued a draft ordinance to expedite Russian securities transfers between investors' accounts, supporting a new law effective 1 September 2026. The draft outlines terms, depository interactions, and a two-minute transfer cap, eliminating the need for separate debit and credit orders.
The Philippine Securities and Exchange Commission issued SEC Memorandum Circular No. 14, Series of 2025, setting new ceilings on interest rates and fees for unsecured, general-purpose loans, effective April 1, 2026. The circular caps effective interest rates at 12% per month, nominal interest at 6% per month, and late payment penalties at 5% per month, with a total cost cap of 100% of the borrowed amount. Violations, including circumvention practices, incur escalating penalties, with potential certificate revocation for repeated offenses.
The Reserve Bank of Fiji granted an insurance broker licence to Howden Insurance Brokers (Fiji) Pte Limited, a subsidiary of Howden Group Holdings Ltd, under section 43 of the Insurance Act 1998, increasing the number of licensed brokers in Fiji to six. The firm will begin operations in January 2026, offering intermediary advisory, placement services, and insurance risk management solutions.
The Reserve Bank of Fiji, in collaboration with the International Finance Corporation and the Climate Bonds Initiative, has launched Fiji’s first Green Finance Taxonomy to classify environmentally sustainable activities and mitigate greenwashing. Version 1.0 focuses on climate change mitigation in the energy and transport sectors, with plans for review in 2 to 3 years and initiatives for capacity building and awareness.
The U.S. Financial Services Committee’s Subcommittee on Financial Institutions held a hearing on the U.S. bank capital framework, focusing on capital requirements' impact on institutions of varying sizes and credit availability. Discussions emphasized reducing compliance burdens on smaller banks and concerns over high requirements affecting small business lending and mortgage affordability. Witnesses called for reforms in Basel III implementation, stress test transparency, leverage requirements, and the Global Systemically Important Bank capital surcharge, highlighting the impact on competitiveness and the real economy.
The U.S. House Committee on Financial Services introduced the bipartisan Housing for the 21st Century Act to enhance housing development and affordability by updating programs and removing regulatory barriers. The bill, incorporating elements from the Senate's ROAD to Housing Act, aims to reduce red tape and expedite affordable housing projects. Committee leaders plan to advance the bill and collaborate with the Senate in the coming year.
The U.S. Financial Services Committee announced the House's passage of the INVEST Act, aiming to reduce regulatory frictions, expand investment opportunities, and support entrepreneurs and small businesses. The bill includes measures to enhance access to investment capital, create new investment options, and lower public listing costs, alongside the Senior Security Act to protect seniors from financial fraud. The committee urged the Senate to consider the legislation.
The U.S. Financial Services Committee’s Financial Institutions Subcommittee held a hearing on the U.S. bank capital framework. Chair Andy Barr advocated for a more transparent, risk-aligned, and tailored capital regime. Barr criticized the "gold-plating" of international standards and the Biden Administration’s Basel III Endgame proposal, suggesting it could drive business offshore. He called for capital requirements to be adjusted by size, complexity, and risk profile, and proposed indexing regulatory thresholds to economic growth to prevent a "barbell" banking system.
FINTRAC fined Juba Express Inc. CAD 67,150 for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, citing inadequate compliance policies, failure to assess money laundering risks, and failure to report large transactions. FINTRAC issued 23 Notices of Violation in 2024–25, totaling over CAD 25 million, and imposed over 150 penalties since 2008.
The Thailand Securities and Exchange Commission (SEC) filed a criminal complaint against former directors and executives of CMO Public Company Limited for alleged dishonest conduct in a share purchase damaging CMO. The SEC's investigation revealed shares were bought at THB 400,000 and resold to CMO for THB 65 million, benefiting the former executives. Those involved are barred from serving as directors or executives during legal proceedings, and the SEC will support authorities in enforcing the Securities and Exchange Act.
The Thailand Securities and Exchange Commission advises bondholders of 11 Energy Absolute Public Company Limited bond series to review information and exercise their rights at the bondholders’ meeting on 16 December 2025. The meeting will address the rationale, negotiation status with banks, and a vote on a partial business transfer. Bondholders’ representatives must evaluate and communicate the benefits, drawbacks, and potential impacts of the proposals.
The National Bank of the Kyrgyz Republic has annulled the licence of Credit Union Adybai-Ata following its members' decision to voluntarily surrender it. The annulment, executed by the National Bank’s Naryn Regional Administration, is effective from 8 December 2025. The licence, issued in 2004, allowed the credit union to attract funds and extend loans to its members.
The Bank of England has reappointed David Roberts as Chair of the Court for a second four-year term starting 24 October 2026. Dame Anne Glover and Diana Noble have also been reappointed as Non-Executive Directors until 31 May 2028 and 31 May 2027, respectively. These reappointments adhere to the Governance Code on Public Appointments and are based on merit.
The European Fund and Asset Management Association (EFAMA) has released Version 2 of its AI System Assessment Tool to assist firms in aligning AI use cases with the EU AI Act. The tool includes enhanced functionalities for analyzing business risks, technology considerations, and governance, and introduces a 'DORA-lite' template for third-party AI systems to aid due diligence and compliance with the Digital Omnibus legislative proposal.
The European Fund and Asset Management Association's Q3 2025 report shows global investment fund net assets rose by 4.8% to EUR 78 trillion, with long-term fund net sales at EUR 351 billion. Equity funds had net outflows of EUR 103 billion due to U.S. concerns over tech stock valuations, while Europe saw EUR 64 billion in equity inflows. Bond funds and global ETFs attracted significant inflows, with bond funds at EUR 363 billion and ETFs at EUR 486 billion. Money market funds saw EUR 351 billion in inflows, mainly from the U.S.
The European Payments Council is seeking applications for three independent member positions, including Chair, on its Dispute Resolution Committee, which oversees compliance for scheme management. Candidates must be unaffiliated with scheme participants, PSP communities, service providers, or user groups. Selected members will begin their three-year term on 1 April 2026.
The Central Bank of Nigeria mandates acquirers, processors, and Payment Terminal Service Providers to maintain connectivity with licensed Payments Terminal Service Aggregators, the Nigeria Inter-Bank Settlement System, and Unified Payment Services Limited for PoS transaction routing. PoS systems must support automatic failover between aggregators and undergo periodic resilience testing. Compliance is required within one month of the circular's issuance.
FDIC Acting Chairman Travis Hill detailed recent regulatory actions and future reforms to the Financial Stability Oversight Council. Key initiatives include joint rulemaking with the Office of the Comptroller of the Currency, rescinding climate-related guidance, and revising leverage ratio standards. Planned reforms involve CAMELS reform, Basel agreement reproposal, and Bank Secrecy Act program rule changes.
The Finnish Financial Supervisory Authority (FIN-FSA) assessed Finland's financial sector, finding banks, pension institutions, and insurers well-capitalised through Q3 2025 despite economic uncertainties. Banks maintained strong capital ratios, with a Common Equity Tier 1 ratio of 18.2% and a total capital ratio of 21.9%, though net interest income declined. The employee pension sector's solvency ratio improved to 129.9%, while life and non-life insurers reported solvency ratios of 222% and 251%, respectively, with positive investment returns.
HM Treasury has reappointed David Roberts as Chair of the Court of the Bank of England for a second four-year term starting 24 October 2026. Dame Anne Glover and Diana Noble have also been reappointed as non-executive directors, with terms extended until 31 May 2028 and 31 May 2027, respectively. The reappointments were made by the Chancellor of the Exchequer and the Economic Secretary to the Treasury per the Governance Code on Public Appointments.
HM Treasury has appointed Dame Debbie Crosbie, Chief Executive of Nationwide Building Society, as the new Women in Finance Champion, succeeding Dame Amanda Blanc. The role supports the HM Treasury Women in Finance Charter, which aims to enhance female representation in senior UK financial services roles. Crosbie's appointment is effective from 1 January 2026, with a term ending on 31 May 2027.
The Canadian Securities Administrators and the Canadian Investment Regulatory Organization have issued guidance for finfluencers, registrants, and issuers to ensure compliance with securities laws in online investing content. The guidance emphasizes transparent communications, conflict of interest identification, and provides examples for understanding regulatory requirements on social media. Non-compliance may lead to penalties and enforcement actions.
The Canadian Securities Administrators (CSA), with the Canadian Investment Regulatory Organization (CIRO), deactivated 3,961 fraudulent investment and cryptocurrency scam websites linked to 6,918 URLs between June 5 and November 23, 2025. The Ontario Securities Commission led the initiative, urging investors to report suspicious sites and highlighting common fraud indicators. The CSA continues identifying additional URLs for potential deactivation to combat online financial fraud.
The Federal Reserve Board has approved The PNC Financial Services Group, Inc.'s acquisition of FirstBank Holding Company, allowing it to indirectly acquire FirstBank in Lakewood, Colorado.
The Federal Reserve Board has approved Banco BTG Pactual S.A.'s application, along with its parent companies and New York subsidiary BTG Pactual Bancorp, LLC, to acquire M.Y. Safra Bank, FSB of New York.
The Federal Reserve Board has terminated enforcement actions involving Credit Suisse Group AG and JPMorgan Chase & Co. This includes the termination of a written agreement with Credit Suisse entities dated December 22, 2020, and cease and desist orders against Credit Suisse dated May 19, 2014, and JPMorgan Chase dated March 8, 2024.
The Federal Reserve Board has reappointed Federal Reserve Bank presidents and first vice presidents for new five-year terms starting 1 March 2026, following unanimous Board concurrence. Presidents were evaluated on district engagement and leadership, while first vice presidents were assessed on operational oversight. Raphael W. Bostic will retire as Atlanta Fed president, and Shonda S. Clay will begin as Chicago Fed first vice president on 1 March 2026.
The Central Bank of Chile has launched three initiatives to enhance access to historical economic and financial data, marking its 100-year anniversary. These include a comprehensive study on the Bank's milestones and balance sheet evolution, a dedicated website for historical statistics, and a new section in the Bank's Statistical Database. The initiatives aim to centralize a century's worth of data for researchers, academics, and the public.
The Italian Securities Commission, with the Bank of Italy and IVASS, released an updated TIBER-IT guide for cybersecurity testing in the financial sector, aligning with the EU Digital Operational Resilience Act (DORA). This guide serves as the framework for mandatory and voluntary threat-led penetration testing (TLPT) by financial entities. It incorporates DORA's TLPT requirements, the European Commission’s delegated regulation, and the updated TIBER-EU framework.
The Canadian Securities Administrators and the Canadian Investment Regulatory Organization deactivated over 3,900 fraudulent investment and cryptocurrency scam websites targeting Canadians. This initiative, from June to November 2025, involved more than 6,900 URLs. Regulators urged reporting suspicious sites and highlighted common fraud indicators, emphasizing verifying registration through the CSA’s National Registration Search.
The Canadian Investment Regulatory Organization and the Canadian Securities Administrators have issued guidance for financial content creators, or "finfluencers," and associated registrants and issuers, clarifying the application of securities laws to online investment content. The guidance emphasizes transparent communication and conflict of interest disclosure, providing examples for compliance. Non-compliance may lead to penalties and enforcement actions.
The Egypt Financial Regulatory Authority issued four decisions to enhance microfinance and SME finance supervision, incorporating anti-money laundering and counter-terrorist financing controls. Decisions 243 and 244 target microfinance entities, while 245 and 246 focus on SME finance, mandating detailed monthly, quarterly, and annual reporting. These measures align with the sector's digital transformation and follow the cancellation of 518 licenses due to non-compliance.
The Egypt Financial Regulatory Authority's 2024 report on private insurance funds shows significant growth, with contributions, assets, and investment returns all increasing by over 20%. It details 671 active funds with 4.3 million members and highlights regulatory updates, including the Unified Insurance Law No. 155 of 2024 and new governance and investment rules. Funds with assets over EGP 500 million must now prepare financial statements under Egyptian Accounting Standards.
SEC Commissioner Caroline A. Crenshaw criticized the agency's current trajectory in a Brookings Institution speech, highlighting a rollback of regulatory efforts that weaken market safeguards. She identified trends like devaluing investor rights, shifting markets into less transparent areas, and reducing enforcement actions, while calling for reforms to enhance investor protections and market integrity. Crenshaw also noted a significant reduction in SEC staff, impacting oversight capacity.
The SEC's Division of Trading and Markets issued a no-action letter to The Depository Trust Company (DTC) for a preliminary voluntary securities tokenization program on supported blockchains. This program allows DTC participants to tokenize and transfer security entitlements via registered wallets, with DTC tracking these transfers. Commissioner Hester M. Peirce noted the initiative's pilot nature and acknowledged other market participants exploring different tokenization structures.
U.S. Securities & Exchange Commission Chairman Paul S. Atkins urged a "thoughtful review" of FSOC guidance on designating non-bank financial companies. He criticized arbitrary designations for hindering firms' strategic planning and capital deployment. Atkins noted Federal Reserve supervision focused on capital standards is inadequate for asset managers, insurance companies, and investment funds.
The Australian Prudential Regulation Authority (APRA) released its Quarterly Authorised Deposit-taking Institution (ADI) Performance and Property Exposures reports for Q3 2025, highlighting a 5.1% increase in net profit after tax to AUD 41.1 billion and a 5.7% rise in total assets to AUD 6,681.7 billion. Key metrics include a total capital ratio of 20.4%, a liquidity coverage ratio of 133.3%, and a 6.0% increase in residential credit to AUD 2,426.5 billion.
The Australian Prudential Regulation Authority has imposed additional licence conditions on H.E.S.T Australia Ltd to address deficiencies in risk management and board governance during a transition of outsourced administration providers, which disrupted member services. APRA requires independent reviews of HESTA’s risk management framework and board effectiveness.
The Office of the Comptroller of the Currency (OCC) announced initiatives to enhance bank supervision and regulation to support the U.S. economy. Key efforts include promoting financial stability, increasing lending capacity, and tailoring examination activities for community banks. Upcoming work will focus on liquidity risk management, Bank Secrecy Act compliance, and revitalizing de novo bank chartering.