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2025-11-18•Europe•European Insurance and Occupational Pensions Authority
The European Supervisory Authorities, including the European Insurance and Occupational Pensions Authority, have listed ICT third-party providers deemed critical under the Digital Operational Resilience Act (DORA). This follows a criticality assessment based on DORA criteria, involving EU competent authorities across financial sectors. The ESAs will oversee these providers to ensure they maintain appropriate risk management and governance frameworks.
Policy & regulation Implementation, projects & pilots Outsourcing and third-party risk management
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2025-11-18•Moldova•National Bank of Moldova
At the Moldova Insurance Conference 2025, the National Bank of Moldova’s Deputy Governor outlined priorities for aligning the insurance sector with European standards, including laws on insurance activity and motor third-party liability insurance. The bank is focusing on digitalisation, with initiatives like online Green Card issuance and a modern interconnection tool with the RCA Data portal. Efforts are underway to implement the EU Solvency II framework and liberalise the RCA market.
Policy & regulation Reform agendas & priorities Supervision process and methodologies
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2025-11-18•United Arab Emirates•Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) released its sixth Future of Finance Report, highlighting how emerging financial hubs leverage governance, regulation, lifestyle, and talent to compete with established centres like New York and London. The report emphasizes interconnected hubs' role in shaping global finance and identifies key competitive qualities such as talent, infrastructure, regulation, and connectivity. It notes Dubai's Common Law framework, tailored regulations, and significant investment in FinTech and innovation, with DIFC's Global Financial Centres Index score rising significantly since 2005.
Research Market development Financial and market indicators
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2025-11-17•United States•U.S. Securities & Exchange Commission
The U.S. SEC’s Division of Examinations released its 2026 priorities, focusing on SEC-registered advisers, investment companies, broker-dealers, clearing agencies, and self-regulatory organizations. Key areas include fiduciary duty, conduct standards, the custody rule, and compliance with new rules like the 2024 Regulation S-P amendments. The Division will also prioritize newly registered advisers and investment companies, with examinations potentially expanding based on additional risk factors.
Supervision Supervision approach, priorities & toolkit Compliance Consumer and investor protection
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2025-11-17•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's Q3 2025 report highlights significant growth in payment systems, with a 61.1% increase in transaction volume and a 29.3% rise in value year-on-year. Key systems like SINPE, UNIRED, and SIPA showed notable increases, with SINPE processing NIO 569,879.1 million and UNIRED handling 2.7 million transactions. The report also notes a rise in payment instruments, electronic money accounts, and digital wallet users, alongside more cash circulation.
Data & statistics
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2025-11-17•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) seeks candidates for the insolvency administrator of Urbas Grupo Financiero S.A., following its voluntary insolvency request. Applications must be submitted via the CNMV’s electronic channel, including compliance declarations, firm information, and proof of professional liability insurance. The court will appoint the administrator based on the CNMV’s proposal.
Supervision Authorisations & approvals Recovery and resolution
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2025-11-17•Italy•Bank of Italy
Bank of Italy Deputy Governor Chiara Scotti discussed the progress toward a digital euro in an interview with La Stampa, indicating it could be realized in the euro area by 2029.
Monetary policy Monetary policy assessments & outlooks CBDC
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2025-11-17•Belgium•Belgium Financial Services and Markets Authority
Jean-Paul Servais, Chairman of the Belgium Financial Services and Markets Authority and IOSCO, participated in a virtual interview at the International Federation of Accountants Council meeting. He emphasized IOSCO's role in international standard-setting and enhancing trust in financial markets through credible disclosures, noting the impact of technology, especially artificial intelligence, on markets and the audit profession.
Other Accounting and financial reporting Artificial intelligence
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2025-11-17•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released a peer review on national authorities' supervision of depositaries, highlighting significant variations in supervisory depth across jurisdictions. The review identified a need for more frequent, risk-proportionate engagement and raised concerns about assessments when depositaries delegate tasks to third parties. ESMA aims to promote consistent supervision across the EU and will follow up on the report's recommendations.
Supervision Peer reviews and country evaluations Supervision process and methodologies
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2025-11-17•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada released a research spotlight based on the 2024 Canadian Financial Capability Survey, revealing that 76% of Canadians sought financial advice, with friends and family being the most common source. The survey highlighted that 65% had not sought advice in the past year, and among those who did, 26% paid for it while 72% used free options. The report also noted emerging risks from generative AI, social media "finfluencers," and sophisticated financial fraud.
Research Financial literacy and education Consumer and investor protection
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2025-11-17•Global•Group of International Finance Centre Supervisors
The Group of International Finance Centre Supervisors (GIFCS) held a Plenary meeting in the Cayman Islands to enhance oversight of trust and company service providers (TCSPs) by revising the GIFCS Standard and sharing supervisory practices. Discussions included HR development, compliance with Financial Action Task Force (FATF) Recommendations, stablecoin and crypto developments, and new member applications.
Policy & regulation Cooperation AML and CFT Stablecoins
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2025-11-17•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine National Commission on Securities and Stock Market has approved a regulation updating the issuance and circulation rules for Real Estate Transaction Fund certificates. Key changes include revised procedures for registration, prospectus submission, and post-issuance reporting, with electronic document handling via CIS accounts. The regulation will be effective following Ministry of Justice approval.
Policy & regulation Rules & requirements Securities offerings and listings
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2025-11-17•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a draft decision for public discussion to introduce a new Regulation on self-regulatory organisations (SROs) in the capital markets. The Regulation outlines requirements for obtaining SRO status, application procedures, and the delegation of powers between the NSSMC and SROs. It also proposes amendments to licensing conditions, reflecting voluntary membership in SROs and repealing previous decisions on associations.
Policy & regulation Rules & requirements Licensing framework and process
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2025-11-17•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank (DNB) released its Financial Stability Report, highlighting elevated risks from geopolitical tensions and global economic policy uncertainty. Key concerns include high US equity valuations, rising sovereign refinancing costs, and vulnerabilities from interconnectedness between banks and non-bank financial intermediaries. DNB calls for structural reforms, targeted investments, and deeper European cooperation to enhance financial stability and competitiveness.
Research
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2025-11-17•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group (EFRAG) was recognized at the ISAR Honours 2025 for its Voluntary SME Sustainability Reporting Standard (VSME), which aids sustainability reporting for small and medium-sized enterprises. The VSME provides a proportionate framework for environmental, social, and governance disclosures, promoting digitalisation and reducing administrative burdens. The initiative aims to enhance ESG information consistency across value chains.
Other Climate risk and sustainable finance
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2025-11-17•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) has appointed Nofa Hermawati as Head of OJK Tasikmalaya, succeeding interim head Melati Usman. This appointment aims to strengthen regional supervision, enhance oversight of local financial institutions, and expand financial literacy and inclusion programs.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-17•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) held a financial education programme for Indonesian National Armed Forces personnel and Persit Kartika Chandra Kirana members to enhance financial literacy and inclusion. Attended by 600 in person and 3,150 virtually, it emphasized vigilance against financial risks like digital fraud and illegal investments. Major General TNI Jamallulael urged participants to improve personal financial management skills.
Financial literacy & education Financial literacy and education
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2025-11-17•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) urged faster digitisation of land documents to enhance banks' credit processes while maintaining standards. At a national discussion, OJK emphasized cross-sector coordination for Electronic Land Certificates and Mortgage Rights, addressing legal and integration challenges. OJK, ATR/BPN, and the House of Representatives’ Commission II committed to ongoing collaboration to improve digitisation.
Policy & regulation Cooperation Lending Market development
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2025-11-17•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) and the Banque de France have signed a cooperation agreement to enhance financial education and literacy among the public. The agreement includes adapting educational content and establishing a framework for regular exchanges on educational practices and strategies. This initiative aligns with ACAPS's mission to protect policyholders and promote financial education in insurance and social welfare.
Policy & regulation Cooperation Financial literacy and education
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2025-11-17•Ireland•Central Bank of Ireland
The Central Bank of Ireland's Financial Stability Review identifies stretched valuations in global markets and trade uncertainties as key risks to Ireland's financial system, though domestic balance sheets remain healthy. It highlights vulnerabilities like rising fiscal deficits, sovereign debt burdens, and concerns in non-bank financial intermediation. The Countercyclical Capital Buffer rate is maintained at 1.5%, with ongoing analysis of liquidity management in Irish funds and financial stability risks from hedge funds.
Research
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2025-11-17•Monaco•Ministry of Finance & Economy (Monaco)
Monaco’s Ministry of Finance and Economy reported that the Coordination and Monitoring Committee held its first meeting to review progress under the Financial Action Task Force (FATF) follow-up process. The FATF plenary endorsed Monaco’s second progress report, highlighting increased international cooperation and successful asset seizures. The Committee is preparing the third progress report for submission to the FATF.
Policy & regulation Implementation, projects & pilots AML and CFT
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2025-11-17•Indonesia•Bank Indonesia
Bank of Indonesia reported a decline in external debt to USD 424.4 billion in Q3 2025, down from USD 432.3 billion in Q2, with a 0.6% annual contraction reversing previous growth. Government external debt grew 2.9% annually, while private external debt fell 1.9%, driven by declines in financial and non-financial corporations. The external-debt-to-GDP ratio decreased to 29.5%, with long-term debt comprising 86.1% of total external debt.
Data & statistics Balance of payments and other external statistics
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2025-11-17•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) held a training session for Privatization Commission and state-owned enterprise officials on mergers, amalgamations, and restructuring. Led by SECP Chairperson Akif Saeed and Director Waseem Ahmed Khan, the session focused on SECP’s framework for schemes of arrangement and compliance requirements. SECP Commissioner Muzzafar Ahmed Mirza highlighted restructuring options under relevant legislative acts.
Policy & regulation Guidance & interpretation
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2025-11-17•China•Central Bank of the Republic of China
People's Bank of China Governor Pan Gongsheng and Deutsche Bundesbank President Joachim Nagel met during the fourth China-Germany High-Level Financial Dialogue to discuss economic and financial conditions and mutual interests, including financial cooperation. Deputy Governor Xuan Changneng was also present.
Policy & regulation Cooperation Cross-border cooperation
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2025-11-17•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's Q3 2025 Banking Sector Review highlights rapid growth in hryvnia lending as the primary driver of asset growth, improved portfolio quality, and eased loan rates. It anticipates supervisory policy decisions on capital buffers and large exposure limits, while noting potential challenges from a proposed 50% profit tax rate in 2026. Corporate lending expanded significantly, particularly in state-owned banks, with a shift towards domestic government securities and a decrease in non-performing loans.
Research Lending Asset quality
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2025-11-17•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) released findings from a 2024 review of five Luxembourg-based investment fund managers (IFMs) on their exposure to weapons of mass destruction proliferation financing risks. The review highlighted awareness and preparedness among IFMs, though mitigation measures are still developing. The CSSF maintains that proliferation financing risk in the Luxembourg fund industry remains low.
Supervision Reviews, inspections & stress tests AML and CFT
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2025-11-17•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) released its 2024 report, highlighting a 20.8% increase in insurer production and strong Solvency II capitalisation amid geopolitical uncertainty and euro area disinflation. Despite a EUR 154 million drop in net profit to EUR 492 million, total assets rose to EUR 48.7 billion, and solvency ratios improved. Pension fund assets recovered by 2.1% to EUR 19.334 billion, with contributions and transfers up 32% to EUR 962 million.
Supervision Risk monitoring & watch points Other
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2025-11-17•Laos•Bank of the Lao
The Bank of the Lao P.D.R. updated the National Assembly on progress addressing the 2021–2025 audit findings, highlighting stricter enforcement for banks breaching credit limits. Measures include guidance on the Production Expansion Fund, strengthening internal controls, and resolving audit issues. The central bank plans tougher actions against banks exceeding lending limits, requiring capital increase plans and monitoring repayment performance.
Supervision Interventions Other
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2025-11-17•Laos•Bank of the Lao
The Bank of the Lao, led by Governor Bounkham Vorachit, hosted a visit from the International Monetary Fund’s Southeast Asia Voting Group (SEAVG) to discuss the IMF’s 2025 Article IV economic assessment of Lao PDR. The SEAVG delegation briefed the Governor on consultations with the IMF mission team and emerging themes. Governor Vorachit appreciated SEAVG’s involvement and anticipated continued support for implementing Lao PDR’s commitments and IMF technical assistance.
Policy & regulation Cooperation Other
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2025-11-17•Laos•Bank of the Lao
The Bank of the Lao has launched the second 2025 cohort of its state management training programme for mid-level managers at the Banking Institute. The 10-day programme aims to enhance managers' ability to implement government policy, laws, and strategic plans, covering topics such as leadership, governance, and project management.
Institutional development Cooperation & capacity building Other
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2025-11-17•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina, with the Central Bank and Deposit Insurance Agency, presented to students on public institutions' role in financial stability. Sessions emphasized responsible financial management, banking supervision, and regulatory oversight in depositor protection and system stability. The program highlighted financial stability's importance in sustaining economic growth despite disruptions.
Financial literacy & education Financial literacy and education
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2025-11-17•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission issued a circular urging vigilance against suspicious fund flows indicative of money laundering. It highlights red flags like structured deposits followed by swift withdrawals and emphasizes robust detection standards. Coordination with the Hong Kong Police Force has increased, intercepting scam-related proceeds, and potential regulatory actions for AML/CFT failings are flagged.
Policy & regulation Guidance & interpretation AML and CFT
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2025-11-17•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued a piece for International Fraud Awareness Week, noting insurance fraud causes tens of millions of euros in annual losses. It highlights severe consequences of minor fraud, common fraud patterns, detection tools, and the importance of trust in the financial system. It warns consumers about impersonation fraud and advises verifying insurance intermediaries against the agency's register.
Supervision Alerts Fraud and scams
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2025-11-17•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a EUR 3.087bn overall surplus and a EUR 10.298bn primary surplus for January to October 2025, surpassing budget targets but below 2024 figures. Net revenues were EUR 60.957bn, falling short of targets due to uncollected receipts, including a EUR 1.350bn concession fee and a EUR 2.109bn Recovery and Resilience Facility instalment. Expenditure was EUR 57.871bn, significantly under target due to deferred payments.
Data & statistics
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2025-11-17•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) hosted a prevention day for students to enhance awareness of online fraud and digital risks, marking its debut in the International Fraud Awareness Week. The event featured workshops on counterfeit detection, digital security, and scam patterns, alongside interactions with security experts from the Federal Ministry of the Interior.
Financial literacy & education Fraud and scams
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2025-11-17•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding a fraudulent website impersonating Bank of Singapore Limited. The alert emphasizes that banks will not send SMS or emails with 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.
Supervision Alerts Fraud and scams
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2025-11-17•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released Q3 2025 credit card lending survey results, indicating a 1.4% increase in total card receivables to HKD 151.0 billion. Delinquency and charge-off ratios remained stable at 0.45% and 0.64%, respectively.
Data & statistics Financial and market indicators Supervisory data
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2025-11-17•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) announced a new committee-level structure effective 1 January 2026, aligning with its Strategic Plan 2025-2029. The restructuring involves replacing existing committees with three re-scoped ones: Monitoring and Risk Assessment, Standards and Supervisory Practices, and Implementation Assessment, with leadership appointments announced. By-law amendments were approved, and the IAIS confirmed no net change in its work types.
Institutional development Mandate & organizational structure Organizational structure Leadership change and appointments
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2025-11-17•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued an investor warning about several websites not connected to any authorised investment service providers under Article 5 of Law 87(I)/2017. CySEC advises investors to verify the licensing status of investment firms on its website before engaging in business.
Supervision Alerts Unlicensed or unauthorized activity
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2025-11-17•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria released October 2025 statistical data on the structure of banknotes and coins in circulation, available in dynamic series and tabular format. The data is accessible in the "Statistics of banknotes and coins in circulation" section, along with a release calendar.
Data & statistics Currency and cash management
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2025-11-17•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency announced a new arrangement effective 1 February 2026, allowing disabled individuals in the National Disability Data System to access discounted compulsory motor third-party liability insurance. It provides up to a 20% discount on maximum traffic insurance premiums for one vehicle owned by a disabled individual. The discount rate and amount will be displayed on the insurance policy's front page.
Policy & regulation Rules & requirements Other
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2025-11-17•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency revised the risk management framework for second-tier and non-resident bank branches, focusing on consumer lending. Key changes include reducing the debt burden coefficient for high-risk borrowers and imposing new restrictions on unsecured consumer loans to curb additional borrowing and mitigate re-default risks.
Policy & regulation Rules & requirements Lending
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2025-11-17•Thailand•Thailand Office of Insurance Commission
Thailand's Office of Insurance Commission released the AI Governance Guideline B.E. 2568 for insurance companies, outlining supervisory expectations for AI use with a focus on transparency, security, and consumer protection. The guideline emphasizes human involvement in high-risk AI decisions affecting policyholders and covers governance, security, transparency, and fairness. The framework was developed following a public consultation process.
Policy & regulation Guidance & interpretation Artificial intelligence
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2025-11-17•Mexico•CONDUSEF
Mexico's CONDUSEF reported a 15.5% increase in complaints in Coahuila from January to September 2025, totaling 4,062 and representing 2.1% of national complaints. The claimed amount rose 44.9% to MXN 208.6 million, while the recovered amount fell 28.8% to MXN 18.3 million. Credit and debit card issues, along with debt-collection practices, were the primary complaint areas, with multiple banking accounting for 56.4% of complaints.
Data & statistics Complaints and dispute resolution
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2025-11-17•Middle East•Arab Monetary Fund
The Arab Monetary Fund, Central Bank of the UAE, and World Bank inaugurated the Financial Inclusion Leaders Summit for MENA 2025 in Abu Dhabi, launching the Abu Dhabi Declaration on Digital Financial Inclusion. The summit addresses financial health, access, women's empowerment, and literacy, with initiatives like the Arab Financial Inclusion Task Force and Arab Instant Payment System Facility highlighted.
Policy & regulation Cooperation Financial inclusion
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2025-11-17•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) is investigating Imermarket (Pty) Ltd, trading as Inversacapital, and two individuals after client complaints about its Contracts for Difference (CFDs) trading activities. Allegations include improper trading advice, pressure for additional deposits, and difficulties accessing funds. The investigation aims to determine potential violations of financial sector laws, including the Financial Advisory and Intermediary Services Act and Financial Markets Act.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-11-17•South Africa•South Africa Financial Sector Conduct Authority
The Financial Sector Conduct Authority (FSCA) warned about Mr. Rick Steiner, falsely claiming to be an FSCA employee and using its details to contact the public. Steiner allegedly tells individuals they are on a list of scam victims and offers to release USD 67 million supposedly frozen by the FSCA for a fee. The FSCA clarified Steiner is not an employee, it does not recover investors' funds, and it will not request fees from victims.
Supervision Alerts Fraud and scams
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2025-11-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in COP 30 events in Belém, discussing insurance protection expansion, climate adaptation, and the insurance market's role in ecological transition. SUSEP director Jessica Bastos highlighted the widening insurance protection gap due to extreme weather and explored regulatory alternatives for resilience-oriented solutions. Sessions addressed frameworks for integrating climate, social, and environmental risks and plans for a just transition to a net-zero economy.
Policy & regulation Cooperation Climate risk and sustainable finance
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2025-11-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has initiated public consultations on draft resolutions to update the administrative sanctions regime. The proposals, linked to Complementary Law No. 213/2025, include new penalties, sanction-dosimetry guidelines, and precautionary measures, with changes such as extending disqualification periods and setting fines up to BRL 35 million or based on infraction severity. These updates take effect on 16 January 2026.
Policy & regulation Rules & requirements Other
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2025-11-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) conducted a public hearing on mutualist property protection regulation, enhancing input from a prior consultation. The session featured diverse stakeholder contributions, with SUSEP managing participation to ensure sectoral balance. Further stages in the rulemaking process are anticipated.
Policy & regulation Other
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2025-11-17•Spain•Bank of Spain
The Bank of Spain reported that Spanish general government debt under the Excessive Deficit Procedure framework was 103.2% of GDP in September 2025, a decrease of 1 percentage point from the previous year. The debt stock reached EUR 1.710 trillion, marking a 4.5% year-on-year increase. State debt rose to EUR 1.558 trillion, while Social Security debt increased due to State loans, and regional government debt also saw a rise.
Data & statistics Balance of payments and other external statistics
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2025-11-17•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten hosted the 56th Annual Monetary Studies Conference, focusing on Caribbean economic resilience amid global challenges. Discussions included productivity, inclusive growth, climate risks, and technological change, with a Governors’ Panel addressing the US dollar's role amid rising stablecoins. The event featured 19 working papers and a keynote by Jeanette Semeleer, President of the Central Bank of Aruba.
Research Economic data and developments Financial stability and systemic risk
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2025-11-17•South Africa•South African Reserve Bank
The South African Reserve Bank (SARB) has created a Rules and Scheme Management Unit within its National Payment System Department to oversee the SARB settlement system, previously managed by the Payments Association of South Africa. This unit will ensure the integrity, efficiency, and compliance of Settlement Rules, manage incidents, enforce compliance, and facilitate governance frameworks. The governance shift follows a 2018 World Bank Group assessment and aligns with the Payments Ecosystem Modernisation project to reform South Africa's payment system regulations.
Institutional development Mandate & organizational structure Organizational structure
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2025-11-17•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 3.7% year-on-year increase in cash remittances to USD 3.12 billion in September 2025, with cumulative inflows rising 3.2% to USD 26.03 billion for January to September. Personal remittances grew 3.8% year on year to USD 3.46 billion in September, totaling USD 28.97 billion for the first nine months. The United States remained the largest source of cash remittances, followed by Singapore and Saudi Arabia.
Data & statistics Cross-border payments
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2025-11-17•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore imposed a civil penalty of SGD 137,000 on Mr. Ang Yew Jin Eugene for insider trading in shares of Alpha Energy Holdings Limited. Mr. Ang, a former non-executive director, sold shares based on non-public information about a loan default, avoiding losses of SGD 54,900. He admitted to contravening the Securities and Futures Act and agreed not to serve as a director for two years without MAS consent.
Enforcement Investigations & enforcement actions Market abuse
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2025-11-17•Serbia•National Bank of Serbia
Governor Jorgovanka Tabaković of the National Bank of Serbia highlighted the transformative impact of digitised payment services and AI on transaction data and regulatory challenges at the "Banking Law 2025" conference. She emphasized BigTech's growing role in payment intermediation and the potential of central bank digital currencies to maintain regulatory control. The event featured discussions on payment services, borrower protection, and corporate governance, with participation from international central banks and financial entities.
Policy & regulation Reform agendas & priorities Payments and payment systems Financial stability and systemic risk
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2025-11-17•Serbia•National Bank of Serbia
The National Bank of Serbia announced a record daily transaction volume in its IPS NBS instant payment system, processing 565,213 payments totaling RSD 7.06 billion on 14 November 2025. IPS NBS, operational since October 2018, facilitates 24/7/365 instant fund settlement.
Data & statistics Activity and performance reporting
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2025-11-17•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission, with the Financial Supervisory Service and the Korea Exchange, proposed enhancing corporate disclosure rules, including expanded mandatory English disclosures and new requirements for annual general meeting and executive compensation reporting. From May 2026, English disclosure requirements will apply to KOSPI-listed companies with assets of KRW2 trillion or more, with shortened submission timelines and additional support measures. The FSC plans further updates to securities issuance and disclosure regulations, with phase III expected in 2028 to cover all KOSPI-listed companies.
Policy & regulation Rules & requirements Disclosures
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2025-11-17•Europe•European Central Bank
European Central Bank Vice-President Luis de Guindos noted elevated financial stability vulnerabilities in the euro area due to geoeconomic uncertainty and tariffs, despite inflation nearing 2%. He emphasized maintaining bank resilience through macroprudential measures and enhancing the framework for the non-bank sector. Key risks include financial market volatility, fiscal pressures from high debt and deficits, and corporate vulnerabilities linked to tariffs and euro appreciation.
Policy & regulation Reform agendas & priorities Financial stability and systemic risk
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2025-11-17•Europe•European Central Bank
The European Central Bank has reviewed the Eurosystem risk control framework for collateralised credit operations and will update the valuation haircut schedule for marketable and non-marketable collateral. Changes aim to maintain risk protection and improve consistency across asset classes, with implementation planned for November 2026. The ECB will amend its legal framework and publish updates in the Official Journal of the European Union.
Policy & regulation Rules & requirements Credit risk
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2025-11-17•Europe•European Central Bank
The European Central Bank published a working paper extending the Bernanke-Blanchard model to assess discretionary fiscal policy's impact on euro area inflation post-pandemic. The study finds fiscal measures contributed modestly to inflation, peaking at nearly 1 percentage point in 2022, with wage growth as a key transmission channel. Net indirect taxes helped contain inflation, while commodity price shocks and supply shortages were primary inflation drivers.
Research Other
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2025-11-17•Europe•European Central Bank
The European Central Bank (ECB) has advanced the digital euro project into a new phase, focusing on developing technical capacity for potential issuance. The digital euro is intended as a digital form of cash for everyday payments, complementing physical currency and reducing reliance on non-European payment providers. The ECB plans for a pilot exercise and initial transactions by mid-2027, with potential issuance readiness by 2029, contingent on legislative approval.
Policy & regulation Implementation, projects & pilots CBDC
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2025-11-17•Europe•European Central Bank
The European Central Bank published a lecture by Executive Board member Philip R. Lane on euro area monetary policy, inflation dynamics, and financial conditions. It highlighted HICP inflation projections near 2% over the next few years and introduced a new Macro-Finance Financial Conditions Index. The lecture emphasized the need for stronger asset demand due to growth and rising public debt, with measures to enhance market integration and promote equity investment.
Monetary policy Monetary policy assessments & outlooks Monetary policy decisions and developments
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2025-11-17•Germany•German Bundesbank
The German Bundesbank study found euro banknotes in Germany have a low ecological footprint, equivalent to a five-kilometre car journey per person annually. Electricity consumption by cash machines is the largest contributor, followed by transport and banknote processing. Recommendations include energy-efficient cash machines, renewable electricity, and electric vehicles for transport, informing future cash cycle planning.
Research Climate risk and sustainable finance
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2025-11-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its Real Estate Sector Bulletin, highlighting a 7.5% increase in the sector's financial volume to BRL 697bn from December 2024 to September 2025. Real estate investment funds grew 5.9% to BRL 370bn, while real estate receivables certificates expanded 9.6% to BRL 245bn. The bulletin, produced by CVM’s Securitisation and Agribusiness Superintendence, also notes a 12% rise in total capital markets volume to BRL 17.2trn.
Data & statistics Financial and market indicators Supervisory data
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2025-11-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SSE 8/2025, clarifying interpretations of CVM Resolution 175 and related annexes for receivables, real estate, and agribusiness investment funds. Key points include FIAGRO quota treatment, FIDC manager responsibilities, and FII investments in FIDC quotas. The clarifications respond to inquiries received by the Securitisation and Agribusiness Superintendence.
Policy & regulation Guidance & interpretation Securitization
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2025-11-17•Zambia•Bank of Zambia
The Bank of Zambia has issued a warning about a fraudulent video and article falsely claiming Governor Dr. Denny H. Kalyalya's endorsement of an investment platform promising high returns. The video is a deepfake, and the article appears on a fake news site, both exhibiting typical online scam traits. The bank urges the public to verify information through official channels and has reported the matter to authorities for investigation.
Supervision Alerts Fraud and scams
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2025-11-17•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced the appointment of Gordana Kalezic and Milan Remikovic as vice-governors, following a unanimous approval by the Parliament of Montenegro. Both will join the Central Bank of Montenegro Council, the institution's highest governing body. These appointments align with Montenegro's EU accession negotiation obligations.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-17•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay's Superintendence of Securities has launched a public consultation on draft regulations for the new capital markets framework following Law No. 7572/2025. The drafts are designed to update the market rulebook, align it with international standards, and strengthen investor protection, transparency and competitiveness. Comments are open until Dec. 31, 2025.
Policy & regulation Rules & requirements Market development
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation appointed Vivid Money as a Validation Agent in the Global LEI System, facilitating LEI acquisition for SMEs and freelancers in Europe. This partnership with Ubisecure RapidLEI supports compliance with EU regulations like the Instant Payment Regulation, Digital Operational Resilience Act, and Markets in Crypto-Assets Regulation, aiming to enhance LEI adoption in cross-border payments, supply chain digitalization, and ESG reporting.
Policy & regulation Implementation, projects & pilots Other
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2025-11-17•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain (CBB) outlined supervisory priorities amid increasing digitalization in financial services, emphasizing the need for regulators to invest in digital tools to enhance safety and manage systemic risk. Governor Khalid Humaidan highlighted Supervisory Technology (SupTech) to balance oversight with innovation and urged commercial banks to invest in fintech. The CBB aims for consistent regulatory treatment across banks, non-banks, and fintechs, prioritizing systemic risk management.
Supervision Supervision approach, priorities & toolkit Fintech and insurtech Supervision process and methodologies
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2025-11-17•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain (CBB) announced Governor Khalid Humaidan led Bahrain’s delegation to the Singapore FinTech Festival to enhance cross-border financial innovation. The delegation, including CBB, Bahrain Economic Development Board, and Bahraini financial institutions, showcased digital solutions and engaged with regulators and technology providers. The event, attended by 65,000 participants, facilitated discussions on investment ties and technology partnerships.
Policy & regulation Cooperation Fintech and insurtech Cross-border cooperation
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2025-11-17•Portugal•Bank of Portugal
The Bank of Portugal has maintained its 4% sectoral systemic risk buffer for institutions using the internal ratings-based approach on retail exposures to residential real estate in Portugal. This decision follows an assessment of the buffer's effectiveness and consultation with relevant authorities, including the European Central Bank. The buffer serves as a preventive measure, with potential adjustments if systemic risk in the real estate market arises.
Policy & regulation Rules & requirements Macroprudential policy and tools Prudential risks
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2025-11-17•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC's Office of the General Accountant revoked E-Value Phils, Inc.'s accreditation and fined it PHP 1 million for unreliable valuation reports for Villar Land Holdings Corp., including a reported PHP 1.33 trillion fair value gain. The reports were non-compliant with International Valuation Standards, lacking documentation and misrepresenting compliance, potentially misleading investors. Villar Land subsidiaries were directed to submit new appraisal reports.
Enforcement Investigations & enforcement actions Auditing
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2025-11-17•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) has released a consultation report proposing updated recommendations for valuing collective investment schemes (CIS), revising its 2007 and 2013 principles. The updates address increased CIS holdings of less liquid assets, rising retail investment, and recent valuation challenges, with 13 recommendations covering governance, conflicts of interest, fair value, and more.
Policy & regulation International standards & recommendations Valuation
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2025-11-17•Poland•Central Bank of Poland
The Central Bank of Poland reported October 2025 core inflation indices, with inflation excluding food and energy at 3.0% year on year and the Consumer Price Index at 2.8%. Most core measures showed a decline from the previous month, with inflation excluding administered prices at 2.3% and the 15% trimmed mean at 2.6%. The bank emphasized using four core measures to identify inflation sources and assess persistence, highlighting the measure excluding food and energy for its relevance to monetary policy.
Data & statistics Monetary data
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2025-11-17•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority's 2025 Life Insurance Stress Test showed major UK life insurers in the bulk purchase annuity market would remain above regulatory capital requirements under severe financial shocks. Conducted under the Solvency UK regime, the test revealed a GBP 8.6 billion drop in aggregate capital surplus and a decline in the solvency capital requirement coverage ratio from 185% to 154%. Exploratory scenarios indicated further potential risks, with the PRA considering future actions to address regulatory capital treatment of Funded Reinsurance transactions.
Supervision Reviews, inspections & stress tests Stress testing
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2025-11-17•Global•International Monetary Fund
The International Monetary Fund's Fintech Note on retail central bank digital currencies (rCBDCs) addresses applying existing AML/CFT standards. It examines rCBDC design features impacting money laundering and terrorism financing risks, challenges in implementing Financial Action Task Force Standards, and discusses supervisory considerations and opportunities for enhanced monitoring in unified ledger environments.
Policy & regulation Guidance & interpretation CBDC
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2025-11-17•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority announced the appointment of new members to its Enforcement Committee.
Institutional development Leadership change & appointments Other
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2025-11-17•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved the prospectus for SGTM's initial public offering, granting its visa for the transaction.
Supervision Authorisations & approvals Securities offerings and listings
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has appointed Vivid Money as a Validation Agent in the Global LEI System, facilitating LEI acquisition for European SMEs and freelancers. This integration aims to streamline compliance with EU regulations and promote broader LEI adoption in areas like cross-border payments and ESG reporting.
Policy & regulation Implementation, projects & pilots Regulatory reporting Supervision process and methodologies
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2025-11-17•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has appointed Vivid Money as a Validation Agent in the Global Legal Entity Identifier System, allowing its European SME and freelancer clients to obtain LEIs through standard onboarding processes. This supports compliance with EU regulations and aims to expand LEI use in areas like cross-border payments and ESG reporting.
Policy & regulation Implementation, projects & pilots Other
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2025-11-17•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada's report from the 2024 Canadian Financial Capability Survey shows 35% of Canadians sought financial advice last year, mainly through free channels. Of nearly 8,000 respondents, 76% used free advice, primarily from friends or family, focusing on general financial planning. Younger Canadians aged 18 to 34 were more inclined to seek advice, often using informal sources like social media, while lower-income and less-educated individuals were less likely to seek advice.
Data & statistics Financial literacy and education
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is advancing a "smart regulation" model to enhance digital transformation in the non-banking financial sector, as detailed by FRA Chair Mohamed Farid at Cairo ICT 2025. Developments include 300,000 digital verification transactions, 250,000 authenticated digital contracts, and the approval of the first digital real estate investment platform. The initiative is supported by recent regulatory decisions on technology infrastructure, digital identity, and the establishment of the FRA Sandbox and FinTech Forum.
Policy & regulation Implementation, projects & pilots Fintech and insurtech Regtech and suptech
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
At Cairo ICT 2025, Mohamed Farid, chair of Egypt's Financial Regulatory Authority, outlined a digital roadmap for the non-banking financial sector, emphasizing mandatory digitisation, data-driven supervision, and technology partnerships. Initiatives include collaborating with eFinance on a payments platform, partnering with eTax for invoice verification, adopting electronic know-your-customer (e-KYC) processes, and introducing online insurance sales and fractional ownership platforms.
Supervision Supervision approach, priorities & toolkit Fintech and insurtech Supervision process and methodologies
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2025-11-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's FRA Sandbox signed cooperation protocols with Liquid C2, Cyber Force, and JRNY at Cairo ICT 2025 to enhance cybersecurity, cloud capabilities, and support innovation in the non-banking financial sector. These partnerships aim to provide a secure testing environment for startups and aid the regulator in developing effective regulatory frameworks.
Supervision Innovation & testing Fintech and insurtech Supervision process and methodologies
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2025-11-17•Global•International Monetary Fund
The International Monetary Fund has outlined how Financial Action Task Force standards should apply to retail central bank digital currencies. Jurisdictions should assess money laundering and terrorism financing risks before launch and tailor safeguards to each currency’s design and use cases. Privacy, tiered access and offline payments require specific controls for customer due diligence, sanctions screening, transaction monitoring and record-keeping.
Policy & regulation Guidance & interpretation AML and CFT CBDC KYC
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2025-11-17•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets warns of a fraud scheme where criminals impersonate mobile network operators via messaging apps to control victims' phones and access banking services. The scam tricks individuals into installing fake support apps, allowing fraudsters access to banking apps and personal data. The Commission advises against installing remote-control apps, sharing sensitive information, and recommends verifying requests through official channels.
Supervision Alerts Fraud and scams
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2025-11-17•United States•U.S. Securities & Exchange Commission
SEC Commissioner Caroline A. Crenshaw discussed the Division of Corporation Finance's choice not to address no-action requests under Rule 14a-8 for excluding shareholder proposals this proxy season due to resource and timing constraints. Companies can still get staff "no objection" letters for proposal omissions based on Rule 14a-8 grounds, without staff evaluation. The announcement includes a carve-out for non-binding proposals and recent state law developments, emphasizing that past staff responses are non-binding and informal.
Policy & regulation Guidance & interpretation Corporate governance
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2025-11-17•United States•U.S. Securities & Exchange Commission
The SEC’s Division of Corporation Finance will not respond to most Rule 14a-8 no-action requests for the 2025–2026 proxy season, except under Rule 14a-8(i)(1), due to resource constraints. Companies must still provide the required informational notice under Rule 14a-8(j) but are not required to seek staff views. The Division will issue a non-objection letter for exclusions based on a company's unqualified representation, without evaluating the basis, and will continue to review Rule 14a-8(i)(1) requests.
Policy & regulation Guidance & interpretation Corporate governance
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2025-11-17•Egypt•Central Bank of Egypt
The Central Bank of Egypt reported a 45.1% year-on-year increase in remittances from Egyptians working abroad, totaling approximately USD 30.2 billion for January to September 2025. September 2025 alone saw a 30.9% rise to around USD 3.6 billion compared to the same month in 2024.
Data & statistics Balance of payments and other external statistics
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2025-11-17•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub released a white paper on Project Rio, a real-time market monitoring platform developed with central banks to enhance oversight of electronic markets, especially foreign exchange. The platform processes high-frequency data with sub-two-second latency, offering insights on liquidity, trading activity, and risks through a modular, scalable architecture and an intuitive dashboard.
Policy & regulation Implementation, projects & pilots Market infrastructure
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2025-11-17•Macao•Monetary Authority of Macao
The Monetary Authority of Macao detailed its 2025 policy agenda, focusing on optimizing the bond market and modernizing the legal framework for investment funds. Key developments include a direct network service between Macao and Hong Kong's bond market infrastructures, a revised Investment Funds Law, and infrastructure upgrades for payments and digital finance. The authority reported over 1,000 bond issuances with a cumulative value exceeding MOP 1,000 billion by October 2025.
Policy & regulation Implementation, projects & pilots Market development
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2025-11-17•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) released its 2025 Risk Monitor, highlighting intensified risks in financial and non-financial sectors, including real estate, credit, and cyber risks. FINMA emphasizes stronger controls over outsourcing and technological resilience, closely monitoring mortgage underwriting and cyber safeguards. The report also includes FINMA’s climate risk assessment, noting increased transition and physical risks from climate change.
Supervision Risk monitoring & watch points Climate risk and sustainable finance
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2025-11-17•Nepal•Nepal Insurance Regulatory Authority
The Nepal Insurance Regulatory Authority has updated the production-based vegetable crop insurance framework to include potatoes in the insurable vegetable schedule. The circular specifies coverage details for various potato varieties, including sums insured and crop periods, under a new "Potato Group" classification. Insurers are directed to align potato crop insurance coverage with the updated schedule.
Policy & regulation Rules & requirements Other
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2025-11-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Region 6 branch conducted a training conference for People’s Credit Funds in Hai Phong city and Quang Ninh province, emphasizing cash vault safety and information system security. The training covered vault controls, key holder responsibilities, and information security requirements under Circular 09/2020/TT-NHNN. Participants were urged to review internal processes and implement the guidance provided.
Policy & regulation Guidance & interpretation Operational risk and resilience
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2025-11-17•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub released a report on Project Rio, a cloud-based tool for real-time monitoring of foreign exchange trading venues to assist central banks in identifying market dislocations and liquidity issues. The tool employs open-source, modular technology for adaptability and features an interactive dashboard developed with central bankers.
Policy & regulation Implementation, projects & pilots Market infrastructure
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2025-11-17•Luxembourg•Luxembourg Commissariat aux Assurances
The Luxembourg Commissariat aux Assurances published its Q3 2025 press communiqué detailing quarterly indicators for the Luxembourg insurance sector.
Data & statistics Financial and market indicators Supervisory data
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2025-11-17•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) submitted draft regulatory technical standards to the European Commission on new macroprudential tools under the revised Solvency II framework. These standards include liquidity risk management plans and mandatory macroprudential analyses, with criteria for medium and long-term liquidity assessments and integration into Own Risk and Solvency Assessments. The European Commission will review these drafts for potential adoption within three months.
Policy & regulation Rules & requirements Liquidity risk Macroprudential policy and tools
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2025-11-17•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE launched the UAE National Financial Inclusion Strategy (NFIS) 2026–2030 at the Middle East and North Africa Leaders’ Summit on Financial Inclusion in Abu Dhabi. Developed with the World Bank, OECD, and Arab Monetary Fund, the NFIS aims to enhance financial access, literacy, and digital transformation, with objectives like increasing financial account ownership and digital payment use by 2030. The summit also revealed the Arab region’s Findex results and announced the UAE as the host for Global Money Week in 2026.
Policy & regulation Reform agendas & priorities Financial inclusion