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2025-11-19•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury has added AEZA GROUP LLC to the UK Sanctions List under the Russia sanctions regime, subjecting it to an asset freeze and trust services sanctions. The designation is linked to providing "bulletproof hosting services" to the Social Design Agency, suspected of destabilising Ukraine. Entities identified as matches must freeze assets immediately and report to the Financial Intelligence Unit.
Enforcement Sanctions & designations Sanctions list update
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2025-11-19•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury updated its sanctions under the Cyber Sanctions Regime, aligning with changes to the UK Sanctions List via the Sanctions (Implementation of UK Sanctions) Regulations 2024. The update includes six new entries and one amendment, all subject to an asset freeze. The amended entry involves CHOSUN EXPO, linked to North Korean cyber activities, with compliance steps reiterated for suspected matches.
Policy & regulation Rules & requirements Sanctions list update
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2025-11-19•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE (CBUAE) launched the "Jisr" central bank digital currency (CBDC) platform for cross-border payments with China, marking the first UAE–China CBDC transaction. The initiative includes interlinking the two countries' instant payment systems, the Jaywan–UnionPay multi-scheme prepaid card, and a memorandum of understanding with the People's Bank of China to enhance cooperation. Jisr aims to facilitate cross-border payments, reduce transaction costs, and provide instant settlement, with plans to expand in 2026.
Policy & regulation Implementation, projects & pilots CBDC Cross-border payments
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2025-11-18•Saudi Arabia•Ministry of Finance (Saudi Arabia)
Saudi Arabia's Ministry of Finance concluded the fifth Saudi–Swiss Financial Dialogue in Riyadh, co-chaired by Abdullah A. BinZaraah and Daniela Stoffel, focusing on enhancing bilateral financial cooperation through new instruments and technologies. The dialogue addressed governance, legislative, and regulatory standards to support financial stability. A private-sector roundtable emphasized Saudi Vision 2030's goals, highlighting increased private investment and diversification, with non-oil activities now comprising over half of GDP.
Policy & regulation Cooperation Cross-border cooperation
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2025-11-18•Mexico•Central Bank of Mexico
The Central Bank of Mexico's Technical Committee of the Pension Fund for Wellbeing approved reports on the Fund's financial position, including quarterly financial statements and reports on financial risks and contributions for April–June 2025. The committee noted progress in contracting an actuarial evaluation and reviewed transparency and compliance reports. Documentation is publicly accessible via the Fund's website.
Supervision Risk monitoring & watch points Other
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2025-11-18•Italy•Bank of Italy
The Bank of Italy reported on two conferences in Paris on 17-18 November, focusing on equity, diversity, and inclusion in central banking. Hosted by the Bank of France and organized with the Bank of Canada, Bank of England, Bank of Spain, and European Central Bank, the events addressed macroeconomic effects of gender roles and women's economic participation. Key speakers included Bank of Italy Deputy Governor Chiara Scotti and Secretary General Massimo Doria.
Other Diversity and inclusion
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2025-11-18•Italy•Bank of Italy
The Bank of Italy published seven new Working Papers (Nos. 1503–1509) in its November 2025 economic research Newsletter (No. 80). Topics include household borrowing and monetary policy, working from home and productivity, inflation expectations in housing, effects of the 2023 Emilia-Romagna floods, excellence funding in Italian universities, EU views on investment around Brexit, and long-term impacts of industrial policies.
Research Other
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2025-11-18•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission announced decisions on approvals for key function holders and pension fund governance, and authorized an investment fund transformation by merger. It initiated consultations on proposed changes to professional qualification and examination rules for insurance brokers and responsible actuaries. Proceedings related to the approval of a new manager at Alaric Securities Ltd were suspended.
Supervision Authorisations & approvals Licence approval
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2025-11-18•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported the conclusion of meetings with an International Monetary Fund (IMF) delegation under the Article IV consultation framework. The IMF's statement highlighted Nicaragua's resilient economic activity, supported by robust macroeconomic policies. The full statement is available on the IMF website in both Spanish and English.
Other Economic data and developments
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2025-11-18•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) and capital market self-regulatory organisations hosted CEO Networking 2025 in Jakarta to address capital market resilience amid global uncertainty. OJK Chairman Mahendra Siregar emphasized good corporate governance, sustainable innovation, and robust capital structures. Indonesia Stock Exchange President Director Iman Rachman highlighted shifting investor preferences and encouraged issuers to maintain share liquidity through BEI’s Liquidity Provider Program.
Policy & regulation Reform agendas & priorities Market development
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2025-11-18•Italy•Bank of Italy
The Bank of Italy has entered a 36-month collaboration with the Special Economic Zone Task Force of the Presidency of the Council of Ministers to analyze the economic impact of the single SEZ in southern Italy. The agreement focuses on conducting research projects to assess regional economic effects.
Policy & regulation Cooperation Other
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2025-11-18•Ghana•Ghana National Insurance Commission
Ghana’s National Insurance Commission and the insurance industry donated GHS 100,000 to the 37 Military Hospital for medical care following the El-Wak Stadium stampede. Commissioner Dr. Abiba Zakariah announced plans for a National Insurance Disaster Fund to support future crises. The donation will aid treatment and recovery efforts for victims still hospitalized.
Policy & regulation Implementation, projects & pilots Other
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2025-11-18•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) Board of Supervisors has renewed Natasha Cazenave's mandate as Executive Director for a second five-year term, ending in May 2031. The decision followed an evaluation of her first term and her contributions to ESMA's future. Cazenave presented her vision for the next five years to the European Parliament's Committee on Economic and Monetary Affairs.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-18•Europe•European Securities and Markets Authority
The European Supervisory Authorities, including the European Banking Authority, Insurance and Occupational Pensions Authority, and Securities and Markets Authority, have listed critical ICT third-party providers under the Digital Operational Resilience Act (DORA). This activates DORA's oversight framework to ensure these providers have adequate ICT risk management and governance for EU financial entities' resilience. The designation involved a criticality assessment based on DORA criteria, including systemic importance and service substitutability.
Policy & regulation Implementation, projects & pilots Operational risk and resilience Outsourcing and third-party risk management
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2025-11-18•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic will host the 305th Central American Monetary Council meeting in Punta Cana on 20–21 November, chaired by Governor Héctor Valdez Albizu and Álvaro González Ricci. Attendees include central bank leaders from Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama, discussing macroeconomic conditions, geopolitical tensions, and climate change. External participants include officials from the International Monetary Fund, Bank for International Settlements, Inter-American Development Bank, CAPTAC-DR, and the Economic Commission for Latin America and the Caribbean.
Policy & regulation Cooperation Monetary policy decisions and developments
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2025-11-18•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission presented the General Statistics of the Capital Markets at Óscar Ribas University, aiming to promote Angola’s capital markets. The session, attended by over 100 participants, included discussions on market trends and the role of financial statistics in research and decision-making. This event is part of the Commission’s ongoing academic lecture series.
Financial literacy & education Financial literacy and education
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2025-11-18•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission hosted a workshop for the Justice Pension Fund on investment opportunities in Angola's capital markets. Presentations covered capital market fundamentals, the financial system structure, and key investment instruments. The event emphasized the importance of continuous training and informed decision-making in managing social security resources.
Financial literacy & education Financial literacy and education
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2025-11-18•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission and the Angola Bar Association signed a cooperation protocol to enhance collaboration in legal, regulatory, and training activities. Initiatives include joint workshops, seminars, and professional internship programs, supported by the Angola Bar Association’s Internship and Training Centre. The protocol also aims to strengthen staff capabilities through joint studies and international exchanges.
Policy & regulation Cooperation Domestic cooperation
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2025-11-18•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority and the Hong Kong Monetary Authority, with BloombergNEF, published a report on scaling sustainable debt in emerging markets, noting a tripling of labelled debt issuance to USD 94 billion since 2020. Green debt constitutes 52% of issuance, with significant contributions from the United Arab Emirates and Saudi Arabia. The report identifies potential growth levers, including clearer government guidance and innovation in sustainable instruments, amid concerns of easing momentum in 2025.
Research Climate risk and sustainable finance
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2025-11-18•Dominican Republic•Pensions Superintendency (SIPEN)
Francisco A. Torres, head of the Dominican Republic's Pensions Superintendency (SIPEN), highlighted pension adequacy constraints due to limited saving and labour-market informality. He explained retirement eligibility, contribution density, and the minimum guaranteed pension, noting 60% of the population may not reach the minimum without consistent saving. Torres also reported real investment returns of 5% to 6% over two decades, with significant account balances derived from returns.
Financial literacy & education
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2025-11-18•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency and the World Bank published research showing workers contribute to the pension system for only 40% of their potential working life. The study highlights variation in contribution density by sector, income, cohort, and region, with higher levels in health, education, finance, and public administration. It also identifies a gender participation gap, with women less likely to enter formal employment, though contributing at similar rates and wages once affiliated.
Research Other
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2025-11-18•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) is updating the Good Governance Code for listed companies, last revised in 2020, as part of its CNMV2030 plan. An expert group, chaired by CNMV chair Carlos San Basilio, will advise on the review, incorporating recent domestic and international corporate governance developments. The CNMV aims to finalize the new Code by the second quarter of 2027 following a public consultation.
Policy & regulation Rules & requirements Corporate governance
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2025-11-18•United Kingdom•Payment Systems Regulator
The Payment Systems Regulator (PSR) released updated data on the UK's Confirmation of Payee service and Authorised Push Payment reimbursement, highlighting fraud prevention and consumer impacts. Over 320 organisations now offer CoP, covering more than 99% of Faster Payments, with GBP 112 million reimbursed to victims in the first nine months. An independent evaluation of APP fraud policies has been commissioned to assess impact and identify improvements.
Data & statistics Fraud and scams
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2025-11-18•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has suspended Surety Compliance Limited's financial services licence until 27 October 2026 for non-compliance with financial requirements and lack of professional indemnity insurance. Surety can continue services related to redemptions and winding up the scheme during the suspension. Surety must maintain a dispute resolution system, be part of the Australian Financial Complaints Authority scheme, and hold professional indemnity insurance, and may seek a review of ASIC’s decision by the Administrative Review Tribunal.
Supervision Authorisations & approvals Licensing and supervisory fees Prudential risks
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2025-11-18•Kenya•Central Bank of Kenya
The Central Bank of Kenya announced the commencement of the Virtual Assets Service Providers Act, 2025, establishing a regulatory framework for Virtual Asset Service Providers (VASPs). Licensing will begin once implementing regulations are issued, with the Central Bank of Kenya and the Capital Markets Authority as regulators. The Act outlines VASP obligations for preventing money laundering, terrorism financing, and proliferation financing.
Policy & regulation Rules & requirements Licensing framework and process
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2025-11-18•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority's annual review of Singapore Exchange Derivatives Trading Limited confirmed compliance with licensed market operator obligations for the period ending 30 June 2025, with oversight from the Monetary Authority of Singapore. The review noted stable operations, increased trading volumes, and no regulatory concerns or market disruptions.
Supervision Reviews, inspections & stress tests Supervision process and methodologies
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2025-11-18•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market and the International Monetary Fund discussed key stages for an updated cooperation programme to enhance regulatory effectiveness and stock market development. The Commission outlined Ukraine's capital market status and regulatory reforms, agreeing on follow-on actions to support financial sector stability.
Policy & regulation Cooperation Domestic cooperation
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2025-11-18•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved decisions on new securities issuances, prospectus updates, and governance changes, including holdings clearances and investor warnings. Key actions include registering corporate bonds and share issues, amending charters, and supervisory approvals for acquisitions and appointments. The Commission also addressed legislative and governance matters related to the National Bank of Ukraine and state-controlled enterprises.
Supervision Authorisations & approvals Licence approval
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2025-11-18•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released its 2025 sector overview, highlighting a shrinking number of licence holders but an increase in market share for larger firms. The AFM emphasizes the importance of trust and responsibility, focusing on ethical operations, compliance, and addressing mortgage fraud risks. It plans to enhance dialogue with the market to improve risk assessments.
Supervision Risk monitoring & watch points Supervision process and methodologies
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2025-11-18•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay's Sustainable Finance Roundtable held an in-person training for member institutions to enhance climate risk management and disclosure. Supported by the Green Climate Fund and the United Nations Development Programme, sessions included national and international case studies and addressed local market challenges. An internal workshop for central bank staff focused on strengthening institutional capabilities regarding climate-related risks.
Policy & regulation Implementation, projects & pilots Climate risk and sustainable finance
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2025-11-18•Ecuador•Superintendencia de Bancos de Ecuador
The Superintendence of Banks of Ecuador hosted the inaugural Super Ciberseguridad 2025 sessions in Quito, focusing on emerging cyber risks and defenses for the financial system. The event featured discussions on cybercrime 3.0, AI in cybersecurity, and security in payment channels, with contributions from ISACA, CITEC, ASOBANCA, Aval Buró, and Equifax. Superintendent Roberto Romero von Buchwald emphasized cybersecurity as a critical issue, aiming to enhance supervisory capabilities and provide practical tools for threat identification.
Supervision Cooperation Cyber resilience
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2025-11-18•Bermuda•Ministry of Finance (Bermuda)
Bermuda’s Ministry of Finance announced that Premier and Minister of Finance David Burt attended Chainlink’s SmartCon 2025 in New York to promote Bermuda’s regulated digital finance framework, including the Digital Asset Business Act (DABA). Burt engaged with major firm executives and participated in discussions on digital finance leadership, outreach to digital asset businesses, and initiatives for AI education and hedge fund sector revitalization. The Ministry of Finance and Bermuda Monetary Authority representatives supported the delegation.
Policy & regulation Implementation, projects & pilots Fintech and insurtech Blockchain and distributed ledger technology
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2025-11-18•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica's 2025 Economic Research Days featured seven studies, including advanced inflation forecasting and exchange-rate pass-through analysis. Key findings highlighted digital payment adoption gaps, a "growth at risk" estimate for Costa Rica, and potential productivity gains in manufacturing through optimal resource allocation. Recordings are available, with a forthcoming paper on manufacturing resource allocation.
Research Economic data and developments
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2025-11-18•United States•National Credit Union Administration
The National Credit Union Administration placed Copper & Glass Federal Credit Union into conservatorship due to unsafe practices, ensuring member services continue. Member deposits are protected by the National Credit Union Share Insurance Fund, covering individual, joint, and retirement accounts up to USD 250,000 each. Copper & Glass Federal Credit Union has 1,255 members and USD 7.1 million in assets.
Supervision Interventions Supervision process and methodologies
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2025-11-18•Ireland•Department of Finance (Ireland)
Ireland’s Department of Finance updated the Ireland for Finance strategy for 2026–2030, focusing on competitiveness and regulatory and tax simplification. Key measures include a tax rate reduction on investments and progress on the Funds 2030 review, with a roadmap for retail investment tax simplification due in early 2026. The speech also highlighted Ireland's involvement in EU negotiations on the securitisation framework and anticipated EU publications on sustainable finance and pension systems.
Policy & regulation Reform agendas & priorities Market development
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2025-11-18•Europe•European Banking Authority
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority have listed ICT third-party providers deemed critical under the Digital Operational Resilience Act (DORA). These providers, identified through DORA’s criteria, are now under the DORA oversight framework. The European Supervisory Authorities will engage with them to evaluate ICT risk management and governance frameworks to ensure service resilience for EU financial entities.
Policy & regulation Implementation, projects & pilots Outsourcing and third-party risk management
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2025-11-18•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority supports Finance Denmark's initiative with Danmarks Nationalbank to form a working group to explore transitioning from CIBOR to transaction-based reference rates. The group will include financial sector participants and aims to enhance robustness and reduce manipulation risks. Finance Denmark and Danmarks Nationalbank will serve as the secretariat, with details on membership and mandate to be published on Danmarks Nationalbank’s website.
Policy & regulation Cooperation Financial benchmarks
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2025-11-18•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong’s Financial Services and the Treasury Bureau announced Lianlian DigiTech's establishment of its overseas business headquarters in Hong Kong to enhance global expansion and fintech activity. The move aligns with the Hong Kong Monetary Authority’s Fintech 2030 strategy and is supported by InvestHK’s GoGlobal Task Force. Lianlian DigiTech will use the Hong Kong base as a strategic hub, leveraging its extensive global network and licences.
Other Market development
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2025-11-18•Gibraltar•Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission released its Annual Report and Audit Regulatory Report for the period from 1 April 2024 to 31 March 2025. The report is accessible on the GFSC website.
Institutional development Other Accounting and financial reporting Supervision process and methodologies
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2025-11-18•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy appointed Mario Walter Requena Pinto as Executive Director of the Financial System Supervision Authority and Marcelo Vladimir Fernández Quiroga as General Manager of the Public Manager of Long-Term Social Security. The appointments aim to enhance financial sector supervision and pension fund administration, prioritizing financial stability, efficient markets, and independent pension asset safeguarding.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-18•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy appointed Mario Walter Requena Pinto as Executive Director of ASFI and Marcelo Vladimir Fernández Quiroga as General Manager of the Gestora Pública. ASFI prioritizes financial stability, market efficiency, and deposit safety, while the pension manager safeguards contributions and manages funds independently from government use.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-18•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario's fall pensions update highlights a rise in the median solvency ratio for defined benefit pension plans to 124% as of September 30, 2025, driven by Q3 equity returns. It addresses compliance issues in buy-out annuity discharge submissions and announces Chief Actuary Lester Wong's retirement at the end of 2025. FSRA plans a data clean-up initiative for its Pension Services Portal and continues planning for Pension Awareness Day 2026.
Policy & regulation Guidance & interpretation Other
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2025-11-18•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario's Q3 2025 Solvency Report shows a median solvency ratio of 124% for defined benefit pension plans, up two percentage points from the previous quarter. The increase is attributed to a 4.6% investment return, though funding positions remain sensitive to market fluctuations. FSRA advises plans to employ stress testing and analytical tools to evaluate potential risks.
Supervision Risk monitoring & watch points
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2025-11-18•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency detailed its process for handling reports of potentially fraudulent insurance agents, including proceedings to withdraw an agent's authorization for serious breaches. The note clarifies the distinction between insurance agents and brokers, emphasizing their responsibilities and liabilities under the Insurance Act. It outlines a two-stage administrative process for license withdrawal, involving an evidentiary procedure and potential judicial review by Slovenia’s Administrative Court.
Policy & regulation Guidance & interpretation Other
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2025-11-18•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued consumer guidance on evaluating insurance agents' fairness and legality. The checklist advises verifying agent registration, seeking clear explanations of terms, and obtaining written contracts. It warns against pressure tactics, commission opacity, and inadequate rule knowledge, and directs consumers to further resources for reporting misconduct.
Policy & regulation Guidance & interpretation Consumer and investor protection
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2025-11-18•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency released an anonymised briefing on three cases of insurance agents facing licence withdrawal for fraudulent conduct. Violations included misleading policyholders, unauthorized policy preparation, and forgery, all breaching the Insurance Act (ZZavar-1) requirements. The agency emphasized that such breaches can lead to licence revocation.
Supervision Authorisations & approvals Fraud and scams
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2025-11-18•Sweden•Riksbank
The Executive Board of Sweden’s Riksbank has appointed Anna Sjulander as the new Head of the Markets Department, effective 13 January 2026. Sjulander, previously Head of SSA Origination at SEB, will succeed Anders Gånge, who will return to his role as Deputy Head.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-18•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance appointed Antonis Kamaras as the country's representative to the World Bank, aiming to enhance cooperation and attract international investment. Kamaras's background includes studies at Connecticut College and the London School of Economics, with experience in technology transfer and bridging business and scientific communities.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and Dubai Financial Services Authority, with BloombergNEF, released a report on scaling sustainable debt in emerging markets. It highlights growth potential in labelled sustainable debt markets in the Middle East, North Africa, and emerging Asia Pacific, emphasizing government measures to reduce labelling costs and encourage corporate issuance. Case studies include a blue bond by DP World and a sustainability-linked loan bond by Emirates NBD.
Research Climate risk and sustainable finance
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2025-11-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails involving The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA emphasized banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force.
Supervision Alerts Fraud and scams
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2025-11-18•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released a paper on shifts in the life insurance sector, highlighting increased allocations to alternative assets and cross-border asset-intensive reinsurance (AIR). It notes limited systemic risk but emphasizes monitoring rapid growth and concentrated exposures. The paper proposes a global classification of alternative assets and underscores concerns about AIR, recommending enhanced monitoring, systemic risk analysis, and guidance development.
Policy & regulation Guidance & interpretation Asset quality Financial stability and systemic risk
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2025-11-18•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission has issued Tender No. 08/2025 for conducting CySEC certification examinations.
Institutional development Procurement
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2025-11-18•Belgium•National Bank of Belgium
The National Bank of Belgium's research shows the economy absorbed 2022–2023 energy-driven inflation and ECB interest-rate hikes, though housing and public finances faced strains. Banks' funding costs rose modestly, with higher lending rates boosting profits. The study notes uneven household impacts, with low-income groups benefiting from wage indexation but reducing spending, and concerns about public debt sustainability due to rising interest costs and persistent deficits.
Research
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2025-11-18•Ghana•Bank of Ghana
At the Cedi@60 International Currency Conference, Bank of Ghana Governor Dr. Johnson Pandit Asiama emphasized the central bank's focus on managing cash and digital money evolution, including payments modernization and the eCedi. He highlighted global trends in digital payments, central bank digital currencies, and AI in security, while addressing currency substitution and dollarisation pressures. The event in Accra is part of the Cedi@60 celebrations, promoting cross-border collaboration among central banks and the currency ecosystem.
Policy & regulation Reform agendas & priorities Monetary policy decisions and developments
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2025-11-18•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan hosted an International Monetary Fund (IMF) mission to discuss Uzbekistan's macroeconomic environment, monetary policy, and banking system indicators. The talks included potential technical assistance and expert consultations to strengthen cooperation with the IMF. Further meetings with the Central Bank's deputy chairpersons, ministries, and commercial banks are planned.
Policy & regulation Cooperation Domestic cooperation
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2025-11-18•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan discussed Uzbekistan’s macroeconomic environment and monetary policy with an IMF mission led by Yasser Abdih. The talks explored enhanced cooperation with the IMF, including technical assistance and expert consultations. Further meetings with the Central Bank's leadership and other stakeholders are scheduled as part of the mission's programme.
Institutional development Cooperation & capacity building Domestic cooperation
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2025-11-18•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan approved a 2025–2028 roadmap to enhance banking regulation and supervision, following IMF and World Bank recommendations. The plan includes legislative amendments, full Basel III implementation, improved corporate governance, risk management, supervisory processes, consolidated supervision, and a bank resolution mechanism. It also aims to strengthen international cooperation and ensure financial stability.
Policy & regulation Reform agendas & priorities Supervision process and methodologies Prudential risks Financial stability and systemic risk
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2025-11-18•Middle East•Arab Monetary Fund
The Arab Monetary Fund held the 29th Arab Financial Inclusion Task Force meeting in Abu Dhabi to coordinate regional financial inclusion priorities, with international observers. Discussions covered financial consumer protection, international standards implementation, and financial literacy, highlighting progress in financial account ownership and ongoing challenges like the informal sector and limited digital infrastructure.
Policy & regulation Cooperation Financial inclusion
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2025-11-18•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has imposed penalties on a local bank and two exchange companies.
Enforcement Investigations & enforcement actions Compliance
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2025-11-18•Jordan•Central Bank of Jordan
The Central Bank of Jordan reported a 6.5% increase in tourism income to USD 6,553.6 million and a 4.1% rise in employee remittances to USD 3,346.1 million for 2025's first ten months. October saw a 3.4% increase in tourism income and a 12.0% rise in overseas tourism spending, while outgoing remittances grew 15.8%, with Egypt as the primary destination.
Data & statistics Balance of payments and other external statistics
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2025-11-18•Israel•Bank of Israel
The Bank of Israel released an updated table on expected inflation, showing one-year expectations at 1.6% from the capital market and 2.0% from professional forecasts, internal interest rates, and inflation contracts. Forward measures indicate inflation expectations of 2.0% for the second year, 2.4% for the third year, 2.0% for years 3–5, and 1.8% for the five-year and 5–10 year horizons, with noted biases in capital-market breakevens due to inflation-risk premiums and market factors.
Data & statistics
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2025-11-18•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has appointed 75 candidates to permanent Technical Analyst roles following a public recruitment exam, as part of its workforce rebuilding effort. These positions are aligned with the career framework established by Law No. 11,890/2008.
Institutional development Workforce & recruitment Hiring and recruitment
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2025-11-18•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority's 2025 review of Singapore Exchange Derivatives Trading Limited (SGX-DT) confirmed compliance with licensed market operator obligations under the Financial Markets Conduct Act 2013, supported by the Monetary Authority of Singapore's supervision. The review noted stable operations, increased trading activity, and no market misconduct, with the SGX-NZX Dairy Committee enhancing market suitability.
Supervision Reviews, inspections & stress tests Supervision process and methodologies
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2025-11-18•Portugal•Bank of Portugal
The Bank of Portugal released updated securities statistics for October 2025, noting a decrease in resident-issued debt securities to EUR 318.2bn, primarily due to general government net redemptions. Listed shares rose to EUR 76.3bn, driven by valuation gains. The market value of outstanding Portuguese Treasury bills and bonds was EUR 178bn, with 84% held by the financial sector and international investors.
Data & statistics Financial and market indicators Supervisory data
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2025-11-18•United States•New York State Department of Financial Services
The New York State Department of Financial Services noted challenges in residential property insurance affordability and access due to climate change, inflation, and a tightening reinsurance market. Acting Superintendent Kaitlin Asrow stressed the need for regulatory and legislative coordination, warning of potential insurer withdrawal if states don't act promptly. DFS plans to work with the Governor’s office and Legislature on sustainable solutions, though specific measures or timelines were not detailed.
Policy & regulation Cooperation Other
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2025-11-18•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has released a draft memorandum circular for public comment, proposing revisions to the Real Estate Investment Trust (REIT) Act of 2009. Key updates include expanded definitions, adjusted investment parameters, and refined public ownership and reinvestment frameworks. The draft also outlines new disclosure requirements and investment limits, including a cap on overseas real estate investments and conditions for joint ventures.
Policy & regulation Rules & requirements Other
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2025-11-18•Europe•European Central Bank
The European Central Bank's Working Paper No 3154 examines euro area consumers' labour market responses to unexpected windfall gains. The study finds that substantial gains, particularly between EUR 50,000 and EUR 100,000, reduce labour supply, notably affecting women and those nearing retirement. Smaller gains show minimal impact on work probability or hours, while job search intensity decreases among non-employed individuals with larger windfalls.
Research Other
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2025-11-18•North Macedonia•Securities and Exchange Commission of the Republic of North Macedonia
The Securities and Exchange Commission of North Macedonia, with the European Bank for Reconstruction and Development, launched a four-day workshop under the EU Financial Regulation 2025 Training Programme. It focuses on applying key EU capital market directives and regulations. Commissioner Vasko Peikov highlighted its role in aligning with European standards and enhancing regulatory understanding.
Policy & regulation Implementation, projects & pilots Capital adequacy
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2025-11-18•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia has released an exposure draft outlining proposed regulatory requirements for open finance, aimed at creating a framework for consent-driven sharing of customer information across the financial sector. The framework emphasizes secure, open, accessible, interoperable, and timely information sharing.
Policy & regulation Rules & requirements Open banking and finance
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2025-11-18•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission acknowledged a Royal Court judgment in Paul Randall Pybus and Adjure Global Limited v. the Commission, which upheld serious concerns about Mr. Pybus. The judgment supported many findings of the Senior Decision Maker but mandated the appointment of a new Senior Decision Maker to reassess probity and integrity, considering the Ivey test.
Enforcement Investigations & enforcement actions Other
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2025-11-18•Albania•Albania Financial Services Authority
The Albania Financial Services Authority reported total net assets of private pension funds reached ALL 14,357.03 million (EUR 148 million) as of 30 September 2025, marking an 11.55% increase since 31 December 2024. Membership rose by 8.77% to 48,864, with seven pension funds active from January to September 2025. The largest open-participation funds by members were CREDINS PENSION and SIGAL MAX PENSION, while SIGAL MAX PENSION led in net assets.
Data & statistics Financial and market indicators Supervisory data
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2025-11-18•Canada•Ontario Securities Commission
The Ontario Securities Commission has updated its exempt market data dashboard to include 2024 data on prospectus-exempt capital raising by Canadian corporate issuers. The dashboard provides insights into exempt market activity and trends in Ontario from 2018 to 2024. The OSC noted increased use of the listed issuer financing exemption under National Instrument 45-106, recently amended by an OSC temporary order.
Data & statistics Financial and market indicators Supervisory data
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2025-11-18•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay used remarks by its Securities Superintendent to position the new Securities and Products Market Law as a reform that unifies the regulatory framework, strengthens investor protection and embeds risk-based supervision. The authority expects to complete a first generation of implementing rules in 2026 and then develop a second wave covering areas such as private funds, crowdfunding, tokenization, distributed ledger technology and foreign issuances. Ruiz also said innovative products should fall under supervision when they involve public fundraising, an expected return and information asymmetry.
Policy & regulation Reform agendas & priorities
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2025-11-18•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning regarding unauthorised activity under the Virtual Asset Service Providers Act, 2024, specifically flagging the website carnescapital.eu. The authority clarified that the company is not recognized by the regulator, despite its Terms of Use citing Seychelles law, and urged investors to conduct thorough research before engaging with the entity.
Supervision Alerts Unlicensed or unauthorized activity
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2025-11-18•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced the surrender of AC GLOBAL LTD’s Securities Dealer Licence (SD098) and Mr. Du Jintao’s Securities Dealer Representative Licence (SDR253) under the Financial Services Authority Act, 2013. The surrender took effect on 14 November 2025.
Supervision Authorisations & approvals Licence withdrawal
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2025-11-18•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced that Aetos Markets (S) Ltd and Mr. Xiaoli Cui have surrendered their respective Securities Dealer Licences, effective 18 November 2025, under Section 30(1) of the Financial Services Authority Act 2013.
Supervision Authorisations & approvals Licence withdrawal
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2025-11-18•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network announced the Bankers Association of Zimbabwe has joined as its newest member, bringing the network to 102 institutions across 73 countries. BAZ has been active in promoting sustainability and supporting member banks in enhancing processes to address climate change risks.
Other
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2025-11-18•Global•World Federation of Exchanges
The World Federation of Exchanges (WFE) has raised concerns with the Bank of England about proposed UK central counterparty (CCP) reforms, citing potential operational and economic burdens without adequate supervisory benefits. Key issues include opposition to detailed margin model disclosures, concerns over the porting incentive framework's impact on end-users, and objections to an additional prefunded "second skin-in-the-game" tranche, advocating for more internationally aligned standards.
Policy & regulation Guidance & interpretation CCPs
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2025-11-18•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has granted Blockshoals Technologies, Inc. in-principle approval to test its financial products in the SEC StratBox regulatory sandbox, pending completion of remaining requirements. Established under SEC Memorandum Circular No. 9, Series of 2024, StratBox allows firms to test innovative products in a controlled environment with potential regulatory relief. Blockshoals, a fintech intermediary for virtual asset services, joins three other entities in the sandbox, with a testing period set for 24 months.
Supervision Innovation & testing Fintech and insurtech Regulatory sandbox
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2025-11-18•Russia•Central Bank of Russia
The Central Bank of Russia reported an increase in the Business Climate Index to 3.4 points in November, up from 2.3 points in October, indicating ongoing growth in business activity. Surveyed companies noted higher current demand but lower output estimates, with improved three-month-ahead expectations and rising price expectations. Further details are available in the November issue of the Bank’s Monitoring of Businesses analytical commentary.
Data & statistics
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2025-11-18•Russia•Central Bank of Russia
The Central Bank of Russia reported a rise in individual investment accounts (IIAs) by 72,000 to 6.3 million in Q3 2025, with net inflows of RUB 59 billion. Total IIA portfolios increased to RUB 753 billion, driven by investments in Russian bonds and money market funds. There is also a growing interest in open-end unit investment funds offering tax benefits through IIAs.
Data & statistics
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2025-11-18•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee held a hearing on deposit insurance's future, exploring coverage, costs, and depositor confidence. Chairman French Hill emphasized a data-driven approach, highlighting the need for improvements to the resolution framework and citing lessons from the 2023 bank failures. Discussions included potential reforms, considering who benefits, cost allocation, and maintaining stability and depositor confidence.
Policy & regulation Reform agendas & priorities
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2025-11-18•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has finalized changes to the UK depositor protection framework, raising the Financial Services Compensation Scheme limit from GBP 85,000 to GBP 120,000 and the temporary high balance claims limit from GBP 1 million to GBP 1.4 million, effective 1 December 2025. Firms must update systems and disclosures by 31 May 2026. Amendments include clarifying third-party premises requirements and updating information sheet wording for accessibility.
Policy & regulation Rules & requirements Prudential risks
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2025-11-18•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined an exchange bureau in the Batken region KGS 55,000 for breaching Kyrgyz legislation and regulatory acts. Additionally, a Kyrgyz citizen was fined KGS 17,500 for unlicensed cash foreign-currency exchange operations.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-11-18•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses (EACH) responded to the Bank of England's consultation on CCP resilience, supporting the approach but seeking changes in transparency, supervisory processes, and the second tranche of CCP own resources. EACH recommends a risk-based calibration for model change notifications and questions the cost-benefit analysis of the second skin in the game (SSITG). It also opposes bank-oriented methodologies for capital requirements and suggests improvements in client porting and liquidity stress-testing metrics.
Policy & regulation Other CCPs
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2025-11-18•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses (EACH) has endorsed the Bank of England's proposals on rule permissions and waivers, as outlined in its consultation paper and draft statement of policy. EACH supports the balance between effective rulemaking and fostering private-sector growth and innovation, and concurs with the draft application form for permissions under section 138BA of the UK Financial Services and Markets Act 2000.
Policy & regulation Other CCPs
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2025-11-18•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission advises holders of Power Solution Technologies Public Company Limited’s PSTC25NA bond to review information and exercise their rights at the upcoming bondholders’ meeting. Bondholders will vote on extending the redemption maturity by 11 months to 29 October 2026 and increasing the interest rate from 7.25% to 7.50% per year. The SEC mandates the bondholders’ representative to evaluate the implications of both approval and non-approval scenarios.
Policy & regulation Guidance & interpretation Corporate governance
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2025-11-18•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has directed NR Instant Produce Public Company Limited to rectify and resubmit its 2024 and first half of 2025 financial statements due to unresolved inventory discrepancies. NRF must comply with Thai Financial Reporting Standards and disclose the corrected statements via the Stock Exchange of Thailand’s SETLink system by 18 December 2025. The SEC identified issues with inventory valuation and allocation practices, necessitating these corrections.
Supervision Interventions Accounting and financial reporting Auditing
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2025-11-18•United Kingdom•Bank of England
The Bank of England's Prudential Regulation Authority (PRA) will increase the Financial Services Compensation Scheme (FSCS) deposit protection limit to GBP 120,000 per depositor from 1 December 2025. The limit for temporary high balance claims will also rise to GBP 1.4 million. These changes, approved by HM Treasury, reflect consultation feedback and updated inflation data.
Policy & regulation Rules & requirements Consumer and investor protection
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2025-11-18•United States•U.S. Department of Justice
The U.S. Department of Justice announced that Michael Smith, a former executive of a NASDAQ-listed company, pleaded guilty to securities fraud for insider trading. Smith used material nonpublic information about a corporate acquisition to trade shares, resulting in a profit of approximately USD 145,754.69. He faces a maximum penalty of 20 years' imprisonment, with sentencing pending.
Enforcement Investigations & enforcement actions Market abuse
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2025-11-18•Canada•Payments Canada
Payments Canada alerted about a phishing email impersonating its regulation team with the subject “Incoming Transaction — Payments Canada”. It emphasized it will never contact the public to initiate payments and advised against opening suspicious attachments or links. Recipients should verify requests independently, avoid sharing personal information, and consult the Government of Canada’s Get Cyber Safe resources for guidance.
Supervision Alerts Fraud and scams
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2025-11-18•United States•Federal Reserve Board
Federal Reserve Board Governor Michael S. Barr advocated for robust banking supervision, warning against regulatory changes that could hinder early risk detection. He criticized modifications to the Large Financial Institution and CAMELS rating systems, arguing they weaken management oversight and enforcement actions. Barr also expressed concerns over proposed staffing cuts in the Board’s Supervision and Regulation division, which he believes would impair supervisory capacity.
Policy & regulation Guidance & interpretation Supervision process and methodologies
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2025-11-18•United States•Federal Reserve Board
The Federal Reserve Board announced enhancements to bank supervision, introducing new supervisory operating principles to focus on material financial risks and ensure timely action. These principles aim to align examinations, reduce duplication, and streamline issue remediation. Examiners are being trained for prompt implementation, with potential formalization through public guidance or regulatory changes.
Supervision Supervision approach, priorities & toolkit Supervision process and methodologies
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2025-11-18•Canada•Canada Deposit Insurance Corporation
The Canada Deposit Insurance Corporation (CDIC) presented its Annual Public Meeting, emphasizing depositor trust, resolution readiness, and organizational resilience. The CDIC reported progress in strategic priorities, with public awareness of deposit protection at 68% overall and 60% among women. Efforts to enhance member risk assessment and resolution planning were highlighted amid market volatility and economic uncertainty.
Financial literacy & education Financial stability and systemic risk
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2025-11-18•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission fined AGROTIKOS OIKOS SPYROU S.A. EUR 5,000 for not preparing its 2020 annual consolidated financial statements in line with International Financial Reporting Standards. The enforcement action cites breaches of Article 4(3) of Law 3556/2007 and specific Commission Decisions regarding IFRS compliance.
Enforcement Investigations & enforcement actions Accounting and financial reporting
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2025-11-18•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority released a discussion paper, Strengthening Confidence in Real Estate Services, proposing amendments to enhance transparency, fairness, and professionalism. Key proposals include mandatory service agreements, protections for unconditional offers, revised compensation structures, and limits on modifying agency duties. Feedback from industry and the public is being sought to inform potential changes to the Real Estate Services Rules.
Policy & regulation Reform agendas & priorities Consumer and investor protection
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2025-11-18•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a public alert regarding scams involving impersonation of CMF staff through various communication methods. The CMF emphasized that its personnel do not request personal information, offer financial products, or conduct banking operations. The Commission is investigating complaints and advises the public to use its Fraud Alerts Page for verification and guidance.
Supervision Alerts Fraud and scams
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2025-11-18•Chile•Chile Financial Market Commission
The Chile Financial Market Commission concluded its enforcement action against Sartor Administradora General de Fondos S.A., imposing fines and disqualifications on former directors and the former general manager for prioritizing related-party interests and providing false information. The CMF revoked Sartor AGF’s authorization and will forward the case to the Public Prosecutor's Office. Financial penalties and five-year bans were imposed on individuals, with fines ranging from UF 10,000 to UF 80,000.
Enforcement Sanctions & designations Corporate governance
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2025-11-18•Thailand•Bank of Thailand
The Bank of Thailand's quarterly assessment highlights the Thai banking system's resilience, with strong capital, loan loss provisions, and liquidity, despite contracting credit growth and weakened profitability. System-wide loan growth contracted by 1.0% year-on-year in Q3 2025, with declines in SME and consumer lending, while large corporate lending slightly expanded. The report emphasizes monitoring tight financial conditions and debt serviceability amid economic slowdown, noting the "Khun Soo, Rao Chuay" program's role in easing SME and household debt burdens.
Supervision Risk monitoring & watch points Credit risk Liquidity risk Asset quality
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2025-11-18•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency issued Interpretive Letter 1186, confirming that national banks may pay crypto-asset network fees and hold certain crypto-assets as principal to support these activities. Banks can hold crypto-assets on balance sheets for "gas fees" and to test crypto-asset-related platforms, subject to safe and sound operation and compliance with applicable law.
Policy & regulation Guidance & interpretation Tokenization