The National Bank of Moldova, supported by the European Union Delegation in Moldova, has released three videos detailing the benefits of Moldova's accession to the Single Euro Payments Area (SEPA). The videos emphasize reduced remittance fees, transparent euro transactions, and business advantages like access to European payment standards and lower transaction costs.
The National Bank of Moldova will host the seventh "Drumul banilor" financial education event on 28 November, coinciding with Moldovan leu day. The event aims to educate children and young people on the issuance and circulation of the national currency, featuring guided visits, exhibits on monetary history, and practical sessions on banknote security.
The Central Bank of the Bahamas released its November 2025 Bahamas Registered Stock secondary market price sheet, detailing bid and ask prices and yields for its portfolio. The sheet includes ISIN-level quotes for fixed- and floating-rate securities with maturities from November 2025 to October 2054, and yields from 3.10% to 6.53%. Transactions occur at published prices, excluding accrued interest, with floating-rate securities resetting coupons biannually.
Antonia M. Apps, Deputy Director of the Division of Enforcement (Northeast) at the U.S. Securities & Exchange Commission, will depart on 1 December 2025. Apps, who became Deputy Director in January 2025, previously served as Regional Director of the New York Regional Office, where she led significant enforcement and examination initiatives.
France's ACPR and AMF issued a joint approach to help investment advisers and life insurance distributors implement EU sustainability preferences. Most advisory processes fall short, with clients not specifying preferences due to unclear classifications. They recommend simplified questionnaires with predefined options to ensure transparency and include at least one regulatory sustainability criterion.
The Bank of Italy released six Occasional Papers (Nos. 976–981) on Italy’s external sector, tax justice system, fintech and household finance, monetary policy under uncertainty, redistribution, and digital banking. Key topics include the resilience of Italy’s external sector, the tax justice system's functioning, robo-advisors, monetary policy implications of uncertainty, redistributive effects of in-kind transfers, and households’ digital banking usage.
The Bank of Italy's Note on Financial Stability and Supervision finds that the 40% reduction in Italy's bank branches from 2008 to 2022 has not impaired households' access to financial services. Despite the decline, over 97% of households held a bank or post office deposit account in 2022, aided by postal services and digital banking. However, age-related disparities persist, with only 25% of households led by individuals over 65 using digital banking compared to 66% of younger households.
The Saudi Arabian Monetary Authority revoked Fas Finance Company's license for consumer microfinance using financial technology in Saudi Arabia. This action followed the company's request to cancel its license after completing liquidation and cancelling its commercial register.
France's Financial Markets Authority and Prudential Supervision and Resolution Authority have established a joint approach to help market professionals integrate clients' sustainability preferences under the Insurance Distribution Directive and MiFID II. This initiative aims to simplify compliance while ensuring high client protection and aligning sustainable finance with savers' expectations.
The Kuwait Capital Markets Authority reported a crime to the Attorney General involving non-compliance by a former Boursa Kuwait-listed company and its chairman under Article (127) of Law No. 7 of 2010. The company failed to pay a fine mandated by a Disciplinary Board decision, despite being legally notified on 17 September 2025.
The Bulgaria Financial Supervision Commission imposed a temporary ban on Harisson Management Limited's tender offer for Aroma AD shares due to incomplete documentation. It also refused to examine three crypto-asset service provider applications for the same reason and registered a TBI Bank EAD bond issuance for trading. Additionally, the Commission advanced proposed amendments to its fee framework.
The Central Bank of Colombia announced the Unidad de Valor Real (UVR) values for the period from 16 November 2025 to 15 December 2025, as detailed in Board of Directors Bulletin 40 of 2025. This follows External Resolution No. 13 of 2000.
The Montenegro Capital Market Authority has approved Erste Asset Management d.o.o. (Zagreb) to publicly offer and trade units of the UCITS fund Erste Horizont II in Montenegro. The fund, maturing on 26 September 2028, targets a minimum total return of 4.35% and primarily invests in debt securities and money market instruments.
The Belgium Financial Services and Markets Authority reported a decline in retail investor engagement in Q2 2025, with decreases in active investors and transactions across shares, ETFs, and bonds. About 200,000 retail investors traded shares, 110,000 traded ETFs, and 16,000 traded bonds, all down from the previous quarter. The FSMA noted potential seasonal effects and increased reporting coverage as factors influencing these figures.
Bank of Italy Deputy Governor Sergio Nicoletti Altimari delivered a keynote speech on systemic risk at the Roma Tre–Unidroit conference, focusing on governance in a risk society.
The Bank of Italy hosted a workshop on "Supervision in the field of AML/CFT: results and outlook" to discuss findings from recent supervisory analyses and European Anti Money Laundering Package implementation efforts. Organized by the Anti-Money Laundering Supervision and Regulation Unit, it included participants from trade and labour associations, leading intermediaries, other supervisory authorities, and Italy’s Financial Intelligence Unit. Workshop presentations are available online.
The Indonesia Financial Services Authority (OJK) held a financial education session at Universitas Hindu Indonesia, emphasizing financial literacy as a defense against illegal investments under its "2L" principle. OJK's Inarno Djajadi highlighted that Indonesia's capital market has 19 million investors, with over 54% under 30, and noted Bali's significant investor base. The session was part of Bali's 2025 Regional Financial Access Acceleration Team programme, which included 19 educational activities and the Bali Stock Trading Competition 2025.
The Reserve Bank of New Zealand (RBNZ) reported progress on financial stability and payments initiatives, including a review of capital settings, consultation on the term "bank," and a payments modernisation strategy. Key developments include establishing a Financial Policy Committee, setting a lower minimum capital requirement for deposit takers, expanding settlement system access, and publishing climate risk management guidance.
The Australian Securities & Investments Commission (ASIC) has initiated civil penalty proceedings against SQM Research Pty Ltd in the Federal Court for allegedly misleading representations in its investment research reports on the Shield Master Fund. ASIC claims SQM Research failed to obtain necessary information, misrepresented ratings, and understated related party fund management and asset allocation, affecting around 5,800 investors. This is ASIC's first action against a research house, emphasizing expectations for rigorous due diligence as outlined in its recent private credit surveillance report and Regulatory Guide 79.
The Australian Securities & Investments Commission (ASIC) has outlined its 2026 enforcement priorities, focusing on misleading pricing, poor private credit practices, financial reporting misconduct, and insurance claims handling failures. Ongoing priorities include insider trading, predatory credit practices, and superannuation trustee failures. ASIC noted a significant increase in investigations and court actions, with recent outcomes including AUD 240 million in proposed penalties against ANZ and a 14-year fraud sentence, while the Shield and First Guardian investigations remain a priority.
The Australian Securities & Investments Commission (ASIC) seeks Federal Court approval to proceed against MWL Financial Services Pty Ltd, former director Nicholas Maikousis, and Imperial Capital Group Australia Pty Ltd for alleged misconduct in financial advice and superannuation rollovers. ASIC claims MWL advised clients to invest AUD 114 million without ensuring compliance with best-interest obligations, and Imperial misrepresented MWL’s services. ASIC aims for declarations, civil penalties, and disqualification of Mr. Maikousis from corporate management.
The Australian Securities & Investments Commission (ASIC) has initiated civil penalty proceedings against Interprac Financial Planning Pty Ltd in the Federal Court for oversight and compliance failures related to investments in the collapsed Shield Master Fund and First Guardian Master Fund. ASIC alleges failures in compliance with best interests obligations, risk management, and addressing issues like reliance on external research. ASIC seeks declarations, civil penalties, and orders to restrain Interprac from operating a financial services business, with separate proceedings against former representatives also underway.
The Ukraine National Commission on Securities and Stock Market (NSSMC) participated in an IOSCO training on surveillance and detecting illicit activities involving crypto and virtual assets. The NSSMC aims to join IOSCO’s Multilateral Memorandum of Understanding (MMoU) and Extended MMoU to enhance supervision and information exchange, having applied in May 2025 after adopting Law No. 3585-IX.
The Central Bank of Türkiye hosted the Financial Stability Board Regional Consultative Group for the Middle East and North Africa meeting in Istanbul, focusing on financial stability topics like global and regional vulnerabilities and emerging risks. Officials from various countries and international organizations discussed debt sustainability, non-bank financial intermediaries, and artificial intelligence in finance. Members also exchanged information on the FSB’s 2025 work and 2026 priorities.
De Nederlandsche Bank (DNB) research shows Dutch households invest 23% of their freely disposable assets in capital markets, below the European average of 36%. Despite significant overall investment, 70% of Dutch household investments occur outside the EU, mainly via pension funds and insurers. DNB cites barriers to increasing EU investments, including a strong saving culture and complex cross-border regulations.
The Dutch Authority for the Financial Markets (AFM) released a report advocating for scenario thinking in capital markets supervision, strategy, and risk management. The AFM highlights rising systemic risks due to market complexity and interdependence, citing events like COVID-19 and the London Metal Exchange nickel incident. It emphasizes the need for a system-wide supervisory approach in Europe to address potential vulnerabilities.
The Dutch Authority for the Financial Markets (AFM) released its Sector in Beeld 2025 report, offering insights into the accountancy sector and supervision of issuers' financial reporting. Key findings include increased specialist consultations during statutory audits and more written policies for root-cause analyses at audit firms. The report also notes a decline in desktop reviews generating reporting questions, with follow-up actions in some cases.
The Dutch Authority for the Financial Markets (AFM) released its Trendzicht 2026 outlook, warning that financial market resilience may be unstable due to geopolitical tensions and cryptoasset integration. The report highlights reliance on dominant non-European providers and urges stronger European cooperation and capital market development. Additionally, the AFM examines scenario thinking and hyperpersonalisation in capital markets, noting opportunities and challenges in using personalisation for customer benefit.
The Dutch Authority for the Financial Markets (AFM) released an analysis on hyperpersonalisation in online financial environments, noting limited current use but potential consumer benefits. The AFM plans to collaborate with the sector to responsibly deploy these tools, addressing practical barriers and legal uncertainties. It aims to enhance supervision over personalised choice environments and their consumer impacts.
The Central Bank of Uruguay highlighted advancements and challenges in its anti-money laundering and counter-terrorist financing framework, emphasizing quality information from reporting entities. Fernando Fuentes noted increased volume and quality of Suspicious Transaction Reports due to better understanding and compliance. He discussed artificial intelligence tools' potential to improve analysis and stressed responsible implementation and interinstitutional cooperation.
The Central Bank of Uruguay hosted the "Central para Vos" event under its BCUEduca Economic and Financial Education Programme for third-year upper secondary students. It featured interactive activities on economic roles, credit and debt management, market pricing, purchasing power, and banknote security. President Guillermo Tolosa and Director Julio Luis Sanguinetti emphasized the importance of central bank credibility for monetary stability.
MONEYVAL Chair Nicola Muccioli presented findings from the fifth round of evaluations at the European AML/CTF & Financial Crime Conference, emphasizing the need for more effective money laundering investigations and prosecutions. He highlighted challenges from emerging technologies and sophisticated cross-border financial crime, advocating for risk-based, intelligence-driven responses. The upcoming sixth round will focus on jurisdictions' effectiveness in combating illicit flows, with political commitment, resourcing, and inter-agency cooperation as critical enablers.
The Central Bank of West African States published a list of entities authorized to offer PI-SPI services to the public as of 13 November 2025.
The Central Bank of West African States has launched a developer sandbox for the Business API of the Interoperable Platform of the West African Economic and Monetary Union’s Instant Payment System. This test environment allows enterprises and IT solution providers to securely test solutions in compliance with international payment system standards. It includes technical documentation, integration guides, and a support centre.
The Moroccan Insurance Authority (ACAPS) conducted a training session for insurance intermediaries in the Laâyoune-Sakia El Hamra region, focusing on professional practices and regulatory awareness. Key topics included the mandatory implementation of All Risks Construction Insurance and Ten-Year Civil Liability Insurance, a new instruction on managing claims against intermediaries, and a survey on commercial practices.
Indonesia's Financial Services Authority (OJK) and Dubai's Virtual Assets Regulatory Authority (VARA) signed a Memorandum of Understanding to enhance cooperation on digital asset regulation. The MoU focuses on information sharing, capacity building, cross-border supervision, and improving anti-money laundering and counter-terrorist financing standards. It aims to strengthen consumer and investor protection through enhanced supervisory and data-exchange cooperation.
Mexico's Ministry of Finance, with the US Treasury's OFAC and FinCEN, blocked financial operations linked to the Pacific Cartel and money laundering. OFAC designated 26 parties, and Mexico identified five more, totaling 31 on the Blocked Persons List. Irregular operations over MXN 1 billion involved casinos, restaurants, and entertainment businesses, leading to complaints for suspected money laundering and tax offences.
First Vice Governor Ekaterine Mikabadze of the National Bank of Georgia participated in an IMF-organized event in Zurich on central bank governance and policy frameworks. Mikabadze shared Georgia's risk-based approach to monetary policy management, emphasizing effectiveness and accountability. The event, co-organized by the Swiss National Bank and Deutsche Bundesbank, included discussions on best practices and institutional development.
Governor Natia Turnava of the National Bank of Georgia highlighted the bank's dedication to competition and consumer protection at the 4th International Conference on Competition and Consumer Protection. The bank has strengthened its Consumer Rights Protection Department with a market conduct supervision function for proactive monitoring. A new program with the World Bank also aims to expand access to finance for women-led businesses.
China's Ministry of Finance and the People's Bank of China will include electronic savings bonds as eligible personal pension products from June 2026. Authorized institutions must offer these bonds through personal pension fund accounts, following operational rules and quota management. System upgrades and compliance with reporting requirements are required, with non-compliance subject to regulatory action.
The Insurance State Supervision Service of Georgia is co-organizing the IV International Conference on Competition and Protection of Consumer Rights in Georgia from November 13–15. The event, with participation from international organizations and agencies from 20 countries, aims to enhance competition policy and consumer rights protection in Georgia. A memorandum of cooperation between competition and consumer protection agencies will be signed to bolster collaboration.
The Securities and Exchange Commission of Pakistan and the Pakistan Bureau of Statistics signed a memorandum of understanding to enhance cooperation through data sharing and capacity building. The agreement facilitates automated data exchange to improve evidence-based policy planning and national economic assessments. Information sharing will occur via digital and traditional methods, supporting each institution's mandate under applicable laws.
The Central Bank of the Republic of China released preliminary October 2025 monetary and financing statistics, showing total social financing at CNY 437.72 trillion, up 8.5% year on year, and broad money (M2) at CNY 335.13 trillion, up 8.2%. RMB loans to the real economy reached CNY 267.01 trillion, while government bonds rose to CNY 93.03 trillion. The data reflects methodological changes, including a revised M1 definition and expanded statistics coverage.
Norway's Ministry of Finance mandates real estate brokerage firms to conduct formal suitability assessments for all real estate agents and settlement assistants, extending beyond new hires. Effective mid-2025, firms must notify the Norwegian Financial Supervisory Authority by 1 January 2027. These assessments, including a police certificate, aim to prevent economic loss and maintain confidence in property transactions.
The Bank of Lithuania reported a decline in the current account balance surplus to EUR 352.3 million in September 2025, from EUR 522.2 million in August, due to a significant increase in the goods trade deficit. Goods imports rose by 16.5%, outpacing an 8.3% rise in exports, while services exports and imports grew by 11.9% and 3.8%, respectively, expanding the services surplus by 21.5% to EUR 1.1 billion. Net financial account investment flows were negative at EUR 91.8 million, mainly due to negative net flows in direct and portfolio investments.
The Croatian Ministry of Finance reported on its participation in Eurogroup and ECOFIN meetings, highlighting discussions on the euro area outlook, fiscal coordination, and banking union oversight. ECOFIN agreed to abolish customs duty exemptions for imports up to EUR 150 and amended several Recovery and Resilience Plans. Ministers also addressed the digital euro, stable cryptocurrencies, and revisions to the Energy Taxation Directive, committing to finalize a digital euro agreement by end-2025.
The Federal Financial Institutions Examination Council, Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released 2024 data on small business, small farm, and community development lending under the Community Reinvestment Act regulations. The release includes aggregate reports for each metropolitan statistical area and county in the U.S. and its territories, with supporting data tables and a fact sheet.
The Bank of the Lao held a seminar for its youth grassroots organisation, focusing on the LFX foreign exchange market and deposit protection. Over 100 participants attended to enhance technical capabilities and promote regulated foreign-currency exchange through the LFX mechanism. The event supports the youth organisation's end-2025 activity plan.
The Governor of the Bank of the Lao outlined banking-sector priorities for the 2026–2030 monetary plan, targeting foreign-exchange reserves covering five months of imports, a non-performing loans ratio under 3%, and average inflation of 5% (plus 2%). Challenges include enforcing foreign-exchange rules and addressing inflation drivers like exchange rates and fuel prices. Strategies to enhance reserves include strengthening the banking system, promoting exports, and improving external-debt management.
The Banking Agency of the Federation of Bosnia and Herzegovina reported on a lecture at the University of Zenica Law Faculty, highlighting consumer protection in financial services. Ombudsmen Lejla Smajović and Đanela Zeco discussed complaint-handling and protection mechanisms, using practical examples to educate students on users' rights and obligations.
The Banking Agency of the Federation of Bosnia and Herzegovina has repealed its previous decision on special measures for banks in response to the October 2024 floods. This decision was published in the Official Gazette of the Federation of Bosnia and Herzegovina No. 87/25.
The Banking Agency of the Federation of Bosnia and Herzegovina has repealed its previous decision on special measures for leasing companies and microcredit organizations in response to the October 2024 floods. This decision was published in the Official Gazette of the Federation of Bosnia and Herzegovina (No. 87/25).
The Banking Agency of the Federation of Bosnia and Herzegovina released preliminary data on the banking system's operations as of 30 September 2025. This aims to provide timely information on basic performance indicators. Final data will be published in the quarterly report.
Bolivia's Ministry of Finance announced new leadership at the Central Bank of Bolivia, appointing David Iván Espinoza Torrico as President and four new board members. President Rodrigo Paz Pereira emphasized restoring credibility, institutional independence, fiscal discipline, and transparency. Minister José Gabriel Espinoza Yáñez outlined priorities to end monetary issuance for public spending, regulate the foreign exchange market, and ensure BCB's technical autonomy.
Bolivia's Ministry of Economy and Public Finance announced new appointments to the Central Bank of Bolivia (BCB), with David Iván Espinoza Torrico as Chair and four new board members. President Rodrigo Paz Pereira emphasized the Central Bank's role in restoring national credibility, while Minister José Gabriel Espinoza Yáñez highlighted priorities like ending public spending financing through monetary issuance and ensuring the BCB's technical autonomy.
The Hong Kong Securities and Futures Commission fined Tung Tai Securities Company Limited HKD 900,000 for unauthorised sales of client securities and fund transfers. Tung Tai acted on a fraudulent email, transferring USD 3,301,740 to non-designated overseas accounts despite red flags. The SFC considered the firm's internal control failings, remedial actions, client compensation, and cooperation in determining the sanction.
The Hong Kong Securities and Futures Commission issued a circular detailing enhancements to the Cross-boundary Wealth Management Connect Pilot Scheme to improve communication between participating licensed corporations and clients. New arrangements allow Participating LCs to obtain one-off written consent from Southbound Scheme clients for product information explanations and research report provision. The SFC will continue collaborating with the industry and regulatory authorities to enhance the scheme.
The Financial Services Regulatory Authority of Ontario has fined Gurpreet Singh Ghuman CAD 80,000 for operating as a life insurance agent without a license, violating section 392.2(6) of Ontario’s Insurance Act. The penalty was imposed following Ghuman's withdrawal of his hearing request before the Financial Services Tribunal.
Greece's Finance Minister Kyriakos Pierrakakis, at an ECOFIN meeting, advocated for targeted tax treatment under the EU Energy Taxation Directive, proposing a ten-year exemption for aviation and shipping and a permanent exemption for agriculture. He highlighted the risks of a uniform approach, stressing the need to balance sustainability with competitiveness. Taxation in shipping and aviation could disadvantage Mediterranean countries, and agricultural exemptions are linked to food security.
Sweden's Riksbank's Financial Stability Report highlights financial stability risks from global uncertainty and market risk-taking, despite global system resilience. It emphasizes maintaining post-crisis regulatory standards and addressing risks from household leverage, commercial real estate, and stablecoins. The report warns of vulnerabilities from proposed mortgage-rule easing and stablecoin expansion, advocating for international regulatory harmonization.
The Australian Prudential Regulation Authority released notes from Chair John Lonsdale's remarks at the Insurance Council of Australia CEO roundtable on regulatory balance, attended by general insurance executives, APRA colleagues, and senior representatives from the Australian Securities and Investments Commission.
The Austria Financial Market Authority's 2025 report on the Austrian insurance industry highlights strong capitalisation with a median solvency ratio of 264% and assets under management of EUR 130.2 billion. The report notes a shift in investment strategies, with a decrease in government and corporate bonds to 34% and an increase in illiquid investments to 41%. Insurers' interdependency with the banking sector has also decreased by about one-third over the past decade.
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing messages linked to five banks, including The Bank of East Asia and ZA Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority has launched EnsembleTX, initiating Project Ensemble's pilot phase to facilitate real-value transactions with tokenised deposits and digital assets. The pilot, involving banks and industry pioneers, focuses on tokenised money market fund transactions and real-time liquidity management, initially using the HKD Real Time Gross Settlement system. The HKMA and the Securities and Futures Commission will collaborate to advance tokenisation use cases across asset classes.
The Hong Kong Monetary Authority reported the unaudited financial position of the Exchange Fund at end-September 2025, with investment income of HKD 274 billion for the first three quarters. Total assets rose to HKD 4,152.2 billion, and the accumulated surplus reached HKD 916.3 billion. Income was primarily driven by gains on bonds, equities, currency translation effects, and fees from placements by the Fiscal Reserves and HKSAR Government funds.
Uganda's Ministry of Finance outlined initiatives at the Annual Financial Inclusion Forum 2025 to enhance financial inclusion and support the Tenfold Economic Growth Strategy. Key programs include the Parish Development Model, Emyooga, and various financing schemes, with significant disbursements under the Uganda Agriculture Insurance Scheme. The 2023 Finscope Report highlighted an increase in adult financial inclusion to 81%, driven by mobile money, with calls for more inclusive products.
Toshiyuki Miyoshi, Vice Minister for International Affairs at Japan’s Financial Services Agency, has been elected Chair of the International Association of Insurance Supervisors (IAIS) Executive Committee, succeeding Shigeru Ariizumi. Under Ariizumi, the IAIS finalized the Insurance Capital Standard and advanced its strategic plan and global policy engagement. Miyoshi's term will extend until November 2027.
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of BrightPool Ltd, VPR Safe Financial Group Ltd, and FIBO Markets Ltd following the revocation of their Cyprus Investment Firm authorisation. Despite the loss of ICF membership, clients retain the right to compensation for prior investment operations if conditions are met.
The Isle of Man Financial Services Authority's November 2025 bulletin outlines supervisory and policy priorities, including proposed fee changes and regulatory reporting streamlining. It highlights MONEYVAL training, risk assessments, and guidance on Commercially Exposed Person risks, greenwashing, and registered office address services. Stakeholders are invited to provide feedback on fee changes.
The Bulgarian National Bank issued an ordinance detailing procedures and criteria for appointing registered auditors and external experts under the Act on Credit Servicers and Purchasers. It outlines qualifications for assessing non-performing loan receivables and compliance with Article 8(11) of the Act, and sets the framework for maintaining lists of these professionals, including registration and removal processes.
The National Bank of Bulgaria has adopted a new ordinance detailing the form and content of its balance sheet and income and expenditure statement, effective 1 January 2026. This aligns with the European Central Bank’s Guideline (EU) 2024/2941 on the accounting and financial reporting framework of the European System of Central Banks. The National Bank will publish weekly, monthly, and annual financial statements on its website.
The Agency for Regulation and Development of the Financial Market of Kazakhstan announced priorities for digitising financial supervision and regulating AI, referencing OECD and BIS principles. It reported 75% of Kazakhstan’s banks use AI, facing challenges like lack of unified standards, data quality issues, and skilled personnel shortages. The Agency emphasized investment in computing capacity and cybersecurity, and noted the consolidation of its SupTech and RegTech tools into a single digital platform.
The Reserve Bank of India issued the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025, extending time periods in the export framework. Key amendments include changing "nine months" to "fifteen months" in Regulation 9 and "one year" to "three years" in Regulation 15. These changes are effective upon publication in the Official Gazette.
Qatar Central Bank Deputy Governor H.E. Sheikh Ahmed bin Khalid bin Ahmed bin Sultan Al Thani participated in the Financial Stability Board Regional Consultative Group for the Middle East and North Africa meeting in Istanbul, where agenda topics were discussed and decisions made.
The Union of Arab Securities Authorities reported that the Regional Committee for Africa and the Middle East held its annual meeting in Abu Dhabi, discussing IOSCO’s workplan, AMERC activities, and capital market development. Concurrently, a conference hosted by Abu Dhabi Global Market addressed tokenisation and private credit growth, focusing on implications for capital markets, regulation, and investor protection.
The Middle East and North Africa Financial Action Task Force (MENAFATF) concluded its 41st Plenary Meeting by adopting member follow-up reports and setting leadership priorities, with Bahrain approved as Vice-President for 2026 and joint UAE-Bahrain presidency priorities endorsed for 2026-2027. Discussions included support from Arab central bank governors, governance projects, and reviews of studies on financial sanctions, emerging crimes, and money laundering.
The Middle East and North Africa Financial Action Task Force (MENAFATF) concluded its 41st Plenary in Manama, setting leadership and work priorities for 2026-2027, including Bahrain's vice-presidency and joint presidency priorities with the United Arab Emirates. The Plenary also addressed governance enhancements, implementation challenges for financial sanctions, and trends in money laundering and terrorist financing.
The Central Bank of the Republic of Uzbekistan held a roundtable with banking sector representatives to discuss financial stability and upcoming changes to prudential requirements on capital adequacy and liquidity. The session covered planned regulatory revisions, macro stress test results, systemic risks, and guidance for banks on risk mitigation.
The South Africa Financial Sector Conduct Authority has imposed penalties totaling ZAR 2.1 million and a 20-year debarment on Ms Chantelle Kleynhans and Mr Pieter Willem van der Walt for unauthorized financial services. They solicited public deposits, promising foreign exchange trading. The FSCA will refer the case to the South African Police Service and advises the public to verify authorization status and be cautious with unsolicited investment offers.
The Central Bank of Jordan hosted a delegation from the State Audit Bureau to discuss internal audit activities, emphasizing ongoing cooperation to enhance governance, transparency, and institutional performance. Deputy Governor Dr. Khaldoun Al-Washah and the Secretary General of the State Audit Institution highlighted the importance of internal audit in maintaining monetary and financial stability.
Uzbekistan’s Ministry of Finance will host the third Public-Private Partnership Roundtable in Tashkent on 18-19 November 2025 to boost private sector involvement in the Uzbekistan-2030 Strategy and a USD 30 billion PPP project programme by 2030.
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the CQCS Insurtech e Inovação event, highlighting regulatory developments and innovation priorities in the insurance market. Superintendent Alessandro Octaviani emphasized Law 15.040/2024 for sector confidence and Complementary Law No. 213/2025 for competition, while addressing natural catastrophe risks and protection gaps. SUSEP's innovation strategy includes regulatory dialogue and cooperation agreements, such as with IMPA Tech for professional training.
The Bank for International Settlements’ Financial Stability Institute has published an FSI Insights paper outlining a framework and good practices for technology-related capacity development in financial supervisory authorities, including artificial intelligence and data capabilities. Based on a survey of nine authorities, it emphasises aligning learning strategies with institutional mandates, using structured competency frameworks, combining in-house and external training with tools such as secondments and sandboxes, and assessing effectiveness through feedback and performance measures.
The New Zealand Financial Markets Authority announced that former financial adviser David McEwen pleaded guilty to charges of breaching an FMA stop order, with sentencing set for 14 January. The stop order was issued due to misleading communications about financial products, and McEwen continued to make offers and accept contributions despite the order.
The South Korea Financial Supervisory Service reported a KRW4.8 trillion increase in household loans across all financial sectors in October 2025, up from September's KRW1.1 trillion rise. The acceleration was driven by stronger nonbank lending and a temporary rise in group mortgage lending for new apartment subscriptions. Despite this, the impact on the housing market is expected to be limited, though higher housing transactions could increase loan growth, necessitating close monitoring.
The Italian Institute for Insurance Supervision (IVASS) reported a 13.6% decrease in insurance complaints in Italy for the first half of 2025, totaling 53,862 complaints. Motor third-party liability accounted for 47% of complaints, with other non-life lines at 40% and life business at 13%. Of actionable complaints, 88.5% were handled within an average of 20 days, below the 45-day limit set by Regulation No. 24/2008.
The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand are exploring synchronised settlement mechanisms for cross-border foreign exchange transactions. The initiative will test interoperability using simulated real-time gross settlement systems and Distributed Ledger Technology-based environments. It aims to assess the potential for atomic, real-time Payment versus Payment FX settlement across diverse jurisdictions and infrastructures.
The Monetary Authority of Singapore and the Singapore FinTech Association announced winners of the Global FinTech Hackcelerator and the Singapore FinTech Festival FinTech Excellence Awards, recognizing innovations in financial services. The Hackcelerator focused on AI solutions, awarding SGD 80,000 each to ActuaViz, Claimsio, and Oxford Risk. The Excellence Awards honored eight winners across six categories, with corporate winners receiving SGD 50,000 and individual mentors SGD 5,000.
The Monetary Authority of Singapore has issued a consultation paper on proposed Guidelines on Artificial Intelligence Risk Management for financial institutions. The guidelines outline supervisory expectations for AI governance, risk management systems, and controls, complementing existing FEAT principles and national AI initiatives.
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, initially focusing on Singapore-Germany transactions. The cooperation aims to develop settlement solutions to reduce costs and processing times, and promote common standards for cross-border payments involving tokenised assets. This initiative builds on MAS’ Project Guardian, with the Bundesbank joining the Guardian Policymaker Group in November 2024.
The Monetary Authority of Singapore has released a consultation paper on proposed Guidelines on AI Risk Management for financial institutions. The Guidelines aim to ensure responsible AI use, covering applications like generative AI and AI agents, with expectations on oversight, risk assessments, and AI life cycle controls. They emphasize proportional implementation based on firms' size, activities, and risk profiles.
The Monetary Authority of Singapore completed a live trial settling interbank overnight lending transactions using wholesale central bank digital currency (CBDC) on the Singapore Dollar Test Network. The trial, involving DBS, OCBC, and UOB, marked the first live issuance of SGD wholesale CBDC. MAS plans a future trial to issue tokenised MAS Bills to Primary Dealers using CBDC, with details expected in 2026.
The European Central Bank's Occasional Paper, prepared within the European System of Central Banks’ EU-UK Network, examines Brexit's impact on EU-UK trade and foreign direct investment (FDI). It finds that non-tariff barriers significantly reduced UK goods exports to the EU, while bilateral FDI links weakened modestly, influenced by relocation-related flows. The paper highlights a nearly 40% contraction in UK exports to the EU post-transition, with services trade growing faster with non-EU partners and a 4% decline in bilateral FDI flows due to Brexit.
The European Central Bank released Working Paper No. 3152, introducing a methodology to enhance the granularity of Inter-Country Input-Output tables for analyzing trade shocks in specific green-transition products. The paper simulates an East-West supply chain decoupling scenario, revealing potential welfare losses of up to 3% and a 20% contraction in trade between blocs, alongside increased global prices and emissions for green products.
The European Central Bank's research in the ECB Economic Bulletin estimates job-to-job transition rates for Germany, Spain, and France, with a proxy for the euro area. The analysis suggests these transitions complement standard labour market indicators for assessing market tightness and inflation dynamics. Findings indicate higher mobility among lower-skilled and younger workers, with demographic ageing expected to reduce transition rates over time.
The Central Bank of Estonia released its monthly flash estimate of the balance of payments, highlighting that the third quarter figures will be published on 10 December 2025. The monthly estimate is based on limited data and is subject to adjustment upon the quarterly release, which uses comprehensive primary data sources. Statistical releases are distinct from economic policy publications.
The Philippines Insurance Commission issued a circular mandating insurance entities to expedite claims processing for policyholders in disaster-stricken areas following a state of calamity declaration. Measures include relaxing procedures, extending deadlines, and ensuring proper damage assessments. The Commission will oversee compliance and address any complaints or issues.
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, enhancing financial transactions between Singapore and Germany. The partnership aims to develop settlement solutions to reduce costs and processing times, and promote shared standards for cross-border payments and tokenised asset transactions. This initiative builds on MAS’s Project Guardian, with Deutsche Bundesbank joining the Guardian Policymaker Group in November 2024.
Poland's Ministry of Finance announced the Sejm's adoption of a law aligning domestic crypto-asset regulations with the EU MiCA, enhancing oversight on issuance, trading, and related services. The law empowers the Polish Financial Supervision Authority with supervisory tools, mandates client protections, and introduces criminal liability for severe violations. It also requires crypto-asset service providers to comply with anti-money laundering and counter-terrorist financing rules.
The German Bundesbank's National Cash Forum announced new stickers for retailers to enhance cash acceptance visibility and outlined measures to bolster cash cycle resilience. Stickers, available through the German Retail Federation and online, feature messages like “Klar, auch bar!” and “Einfach. Bargeld.” The forum also plans to improve crisis communication and conduct regular crisis exercises, with the first simulating various emergency scenarios.