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2025-11-12•Europe•European Council
The European Council reported on the Eurogroup's discussions about the euro area outlook, fiscal coordination, Banking Union, and digital finance, including a commitment to finalize a Council general approach on the digital euro by year-end. Ministers agreed to initiate a work stream on stablecoins and reviewed macroeconomic updates from the European Commission and ECB, noting growth and employment trends. The Eurogroup also discussed maintaining financial stability standards and supporting banks' growth amid digitalization, with plans to revisit budgetary coordination and crisis management in December.
Policy & regulation Reform agendas & priorities Economic data and developments Financial stability and systemic risk
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2025-11-12•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia charged Yong Man Chai, former CFO of AT Systematization Berhad, with 20 counts under the Capital Markets and Services Act 2007 for allegedly causing a wrongful loss of RM7.821 million. The charges involve payments to several companies intending to cause loss between July 2020 and October 2021. Yong claimed trial and was granted bail, while the SC highlighted cooperation with INTERPOL and other agencies in the investigation.
Enforcement Investigations & enforcement actions Fraud and scams
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2025-11-12•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia has released a consultation paper on proposed changes to listing frameworks for the MAIN and ACE Markets to enhance Malaysia's public market value proposition. The proposals aim to improve issuer access and include adjustments to MAIN Market listing routes and ACE Market alignment with its sponsor-driven framework.
Policy & regulation Rules & requirements Securities offerings and listings
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2025-11-12•Germany•German Bundesbank
The German Bundesbank's September 2025 securities market statistics reveal a EUR 45.6bn increase in the outstanding volume of domestic and foreign debt securities, with gross bond issuance rising to EUR 139.3bn. The public sector contributed EUR 13.3bn to net issuance, while domestic enterprises increased capital market debt by EUR 2.0bn. Domestic investment funds saw weaker inflows of EUR 2.9bn compared to the previous month.
Data & statistics Financial and market indicators Supervisory data
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2025-11-12•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has expanded its Open Data Portal with new datasets, including those on listed-company special corporate events and securities offering coordinators’ registration. Enhancements to existing datasets now cover portfolio data for FIDC and FIAGRO funds and additional fields in the listed-company Reference Form. This expansion completes the CVM's data-opening plan through 2025.
Data & statistics Regulatory reporting
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2025-11-12•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SRE 5/2025 to guide intermediaries on using the SRE System for public offering registrations under CVM Resolution 160. It consolidates instructions on document submission, procedural phases, and application types, referencing Circular Letter CVM/SRE 4/2025 to minimize errors. CVM clarified that deadlines will be triggered by formal request submissions in the SRE System, starting five business days post-publication.
Policy & regulation Guidance & interpretation
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2025-11-12•Brazil•Brazil Securities Commission (CVM)
Brazil’s Securities Commission (CVM) hosted a delegation from the China Securities Regulatory Commission (CSRC) to enhance regulatory dialogue between Brazilian and Chinese capital markets. The meeting follows Chinese regulators authorizing ETF listings in Shanghai and Shenzhen under the Brazil–China ETF Connect programme. This engagement is part of ongoing cooperation initiated at a March 2024 COSBAN meeting and supported by an international memorandum on investor protection and market integrity.
Policy & regulation Cooperation Cross-border cooperation
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2025-11-12•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC), in partnership with Westline School and supported by ACLEDA Securities Plc. and Benjaran Asset Management (Cambodia) Plc., held a workshop to promote financial literacy in the securities sector. The event was presided over by H.E. Sou Socheat, Director General of SERC, and Mr. Te Lay, Deputy General Director of Westline Education Group Co., Ltd.
Financial literacy & education Financial literacy and education
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2025-11-12•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a public alert regarding the website "Commercial Register of Seychelles," operated by Commercialregister LTD, for unauthorised use of official logos and misleading information. The FSA clarified that the company is not affiliated with the Government of Seychelles and urged caution when engaging with its services.
Supervision Alerts Unlicensed or unauthorized activity
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2025-11-12•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority has refused the virtual asset service provider application from Elysphere Ltd, effective 10 September 2025, under the Virtual Asset Service Providers Act, 2024. Elysphere has been instructed to cease operations immediately or relocate services outside Seychelles.
Supervision Authorisations & approvals Licence approval
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2025-11-12•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority has terminated Mr. Oleksii Dubovyk's accreditation as a Securities Dealer Representative for Just Global Markets Ltd, effective 27 June 2025, under section 4(1)(m) of the Financial Services Authority Act 2013.
Supervision Authorisations & approvals Licence withdrawal
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2025-11-12•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority announced the rejection of Falcon Labs Ltd's virtual asset service provider application, effective 9 May 2025. Falcon Labs, trading as FalconX, must cease operations or relocate services outside Seychelles. This decision was made under section 28 of the Financial Services Authority Act, 2013, concerning the Virtual Asset Service Providers Act, 2024.
Supervision Authorisations & approvals Licence approval
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2025-11-12•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has relaunched the SEC Academy, an online platform to enhance financial literacy, help Filipinos manage finances, and avoid scams. This initiative aligns with efforts to integrate financial literacy into the high school curriculum and marks the start of Investor Protection Week 2025. The platform offers courses from SEC officials and industry experts on saving, investing, and scam detection.
Financial literacy & education Financial literacy and education
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2025-11-12•Global•United Nations Environment Programme Finance Initiative
The UNEP FI published an article on the potential launch of a UN-regulated global carbon market under Article 6.4 of the Paris Agreement, highlighting risks and roles for financial institutions. It notes COP29's guidance on operationalizing Article 6.4 and anticipates COP30 to shape technical rules for credit generation, verification, and cross-border trading. UNEP FI plans to contribute to COP30 discussions with a report from the Taskforce on Net Zero Policy, expecting COP30 to finalize rules for emission avoidance and benefit-sharing mechanisms.
Research Carbon markets
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2025-11-12•Fiji•Reserve Bank of Fiji
Mr. Esala Masitabua has returned to the Reserve Bank of Fiji as Deputy Governor after a two-year secondment at the International Monetary Fund, where he served as an Advisor in the Southeast Asia Group. His experience is anticipated to enhance the Bank's surveillance capacity, policy formulation, and leadership development.
Institutional development Leadership change & appointments Hiring and recruitment Leadership change and appointments
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2025-11-12•Russia•Central Bank of Russia
The Central Bank of Russia plans regulatory changes to retail unit investment funds (UIFs) to enhance their attractiveness and protect retail investors. Proposed measures include expanding eligible assets, allowing management companies to cancel UIF formation, and permitting the merger of multiple exchange-traded UIFs. Implementation is targeted for 2026–2027.
Policy & regulation Rules & requirements
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2025-11-12•Russia•Central Bank of Russia
The Central Bank of Russia released its November 2025 monitoring report on maximum interest rates for Russian ruble deposits at the ten largest credit institutions, with an average maximum rate of 15.32% for early November. Rates by maturity were 14.78% for up to 90 days, 14.77% for 91 to 180 days, 14.41% for 181 days to one year, and 12.52% for over one year. The report excludes special-category deposits and other specific products.
Data & statistics Financial and market indicators
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2025-11-12•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo addressed the Bank of Albania’s 100th anniversary conference, discussing updates to Kosovo's payments infrastructure and regulatory framework for digital financial services. Key reforms include digitalisation of payments, SEPA alignment, and a new framework for operational resilience and cyber security. The Central Bank is cautiously approaching cryptoassets and monitoring the European Central Bank's digital euro developments.
Policy & regulation Reform agendas & priorities Fintech and insurtech Monetary policy decisions and developments
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2025-11-12•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has finalized changes to the UK leverage ratio framework, raising the retail deposits threshold from GBP 50 billion to GBP 75 billion and introducing a three-year averaging mechanism. These amendments to the Leverage Ratio (CRR) Part of the PRA Rulebook aim to reflect UK GDP growth and restore the Financial Policy Committee's original risk appetite. Effective 1 January 2026, the policy maintains the GBP 10 billion non-UK assets threshold for internationally active firms.
Policy & regulation Rules & requirements Capital adequacy
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2025-11-12•United States•U.S. Financial Services Committee
U.S. House Committee on Financial Services Chairman French Hill stated that the recent federal government shutdown delayed legislative work on banking, housing policy, and other priorities. Hill emphasized the Committee's focus on reducing regulatory burdens for community banks, addressing housing affordability, expanding capital access for U.S. businesses, and advancing digital asset market structure legislation.
Policy & regulation Reform agendas & priorities Other
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2025-11-12•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined three exchange bureaus in the Jalal-Abad region KGS 55,000 each for violating Kyrgyz legislation and the bank's regulatory legal acts.
Enforcement Investigations & enforcement actions Compliance
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2025-11-12•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has suspended the licences of three currency exchange bureaux for violations of national legislation and regulatory acts, and fined one bureau KGS 55,000 for similar breaches. The suspensions affect OsOO “Keiji 098,” OsOO “Dos Pro,” and OsOO “Finnam Pro” in Bishkek, with varying suspension periods in November 2025.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-11-12•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic and the OSCE Programme Office in Bishkek conducted four financial literacy seminars in Karakol for local college students on 5–6 November 2025. Over 100 students and educators from various colleges participated in interactive sessions, marking the conclusion of the second stage of the regional seminar programme.
Financial literacy & education Financial literacy and education
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2025-11-12•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Chair, Melis Turgunbaev, discussed in an interview with Gulf News the regulator's focus on price stability, managing external inflation risks, and banking and payment system stability. The interview also highlighted the digitalisation of financial services and the bank's achievements in this area.
Monetary policy Other Monetary policy decisions and developments
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2025-11-12•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has implemented a regulation establishing minimum requirements to combat internal and external fraud in Kyrgyz payment organisations and system operators. This aligns with the Law of the Kyrgyz Republic On the Payment System of the Kyrgyz Republic.
Policy & regulation Rules & requirements Fraud and scams
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2025-11-12•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force (MENAFATF) began its 41st Plenary Meeting in Manama, Bahrain, focusing on member countries' Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) systems and regional cooperation. The agenda includes discussions on member measures, emerging money laundering patterns, and best practices, alongside a workshop on mutual evaluations and Financial Action Task Force (FATF) standards implementation.
Policy & regulation Peer reviews and country evaluations AML and CFT Capacity building
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2025-11-12•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority (AMMC) has approved Capgemini's definitive prospectus for a new share issuance. This offering is exclusively available to the group's employees.
Supervision Authorisations & approvals Securities offerings and listings
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2025-11-12•Iceland•Central Bank of Iceland
The Central Bank of Iceland's latest survey reveals unchanged inflation expectations since August, with a forecasted decline in the near term and policy easing anticipated in early 2026. Conducted from 3-5 November with a 79% response rate, it shows a median inflation expectation of 3.4% in one year and a policy rate expectation of 7.5% in Q4/2025, decreasing to 6.25% by end-2026, while 83% of respondents view the current monetary stance as too tight.
Monetary policy Monetary policy assessments & outlooks Monetary policy decisions and developments
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2025-11-12•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission released its 2023–2024 Capital Markets Notice, highlighting investment activity, regulatory updates, and market trends. Key themes include changes in exempt market participation, regional investment flows, and issuer financing options.
Other
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2025-11-12•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission warns that BitcoinUP is not registered to deal in or advise on securities or derivatives in New Brunswick, advising investors to avoid unregistered firms. The alert identifies BitcoinUP and its URLs, noting its UK location claim, and references similar alerts from other Canadian securities commissions. Investors are directed to use the National Registration Search tool and a guide for assessing crypto asset trading platforms.
Supervision Alerts Unlicensed or unauthorized activity
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2025-11-12•Pakistan•State Bank of Pakistan
State Bank of Pakistan Governor Jameel Ahmad, at the Future of Banking Summit 2025, detailed the central bank's digitisation efforts, including payment infrastructure upgrades and regulations for digital finance models. Key initiatives include Raast for secure, real-time transactions, Open Finance for enhanced customer data control, and cross-border payment integration using ISO 20022. The SBP is also advancing an innovation hub and a Regulatory Sandbox to test remittances, open banking, and merchant onboarding.
Policy & regulation Implementation, projects & pilots Fintech and insurtech Financial inclusion
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2025-11-12•Chile•Central Bank of Chile
The Central Bank of Chile's Financial Stability Report for H2 2025 highlights increased vulnerabilities from international financial markets, with external risks and potential global financial tightening threatening Chile's stability. The Board maintained the Countercyclical Capital Requirement at 0.5% of risk-weighted assets. The report also notes progress in Basel III capital requirements and public consultations on repurchase transaction agreements and central counterparty liquidity management.
Research Financial stability and systemic risk Market risk and volatility
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2025-11-12•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority revoked a real estate agent's license for gross duty breaches in property valuation for bank lending and repeated documentation rule violations. The inflated valuation led to flawed financing assumptions and a bank loss. The agent can appeal and work under supervision but cannot act as a responsible broker.
Supervision Authorisations & approvals Other
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2025-11-12•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) announced that GPW Benchmark SA will discontinue certain WIBID and WIBOR fixing terms, advising entities to cease using these tenors in new contracts. WIBOR and WIBID for T/N and 2W will end on 22 December 2025, O/N on 1 October 2026, and 1Y will transition to an algorithmic method until 22 December 2026. The changes align with Article 21 of the EU Benchmark Regulation and the National Working Group's benchmark reform roadmap.
Policy & regulation Guidance & interpretation Financial benchmarks
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2025-11-12•United States•Federal Reserve Board
The Federal Reserve Board has approved ID Bank CJSC's application to open a representative office in Glendale, California.
Supervision Authorisations & approvals Licence approval
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2025-11-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) is partnering with the National Training Academy to enhance human capital in the non-banking financial sector through specialized training programs. Discussions with Academy leaders focused on cooperation mechanisms and program design to improve staff competence and public awareness. The FRA also highlighted 2025 training initiatives, including collaborations with the Court of Cassation and Bayes Business School.
Institutional development Cooperation & capacity building Capacity building
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2025-11-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority issued Decision No. 228 of 2025, establishing a framework for life insurance and capital formation insurers to invest in precious metals, particularly gold, with prior approval and customer consent. It mandates board-level approvals, specific investment policies, and transactions through registered entities, with periodic valuation and detailed reporting requirements. Additionally, the FRA plans to set investment rules for government insurance funds, including a 5% minimum allocation to the stock exchange and open-ended investment funds.
Policy & regulation Rules & requirements Other
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2025-11-12•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority announced its re-election to the executive committee of the International Organisation of Pension Supervisors for 2026–27, marking a sixth consecutive term. This follows the FRA's regulatory work on private insurance funds, including implementing Egypt’s Unified Insurance Law. The FRA reported private insurance funds held EGP 184.7bn in assets at end-2024, with investments of EGP 168.1bn.
Policy & regulation Cooperation Other
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2025-11-12•United States•U.S. Securities & Exchange Commission
SEC Commissioner Mark T. Uyeda updated on implementing the SEC’s Treasury Clearing Rules, mandating expanded central clearing for certain U.S. Treasury cash and repo activities. Compliance dates are extended to December 31, 2026, for cash transactions and June 30, 2027, for repo transactions. The SEC is reviewing clearing agency registration applications and launched a Treasury Clearing implementation webpage for updates.
Policy & regulation Implementation, projects & pilots Market infrastructure
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2025-11-12•United States•U.S. Securities & Exchange Commission
SEC Chairman Paul S. Atkins outlined "Project Crypto," proposing a clearer framework for applying federal securities laws to crypto assets. Atkins suggested a token taxonomy based on the Howey test, categorizing tokens into "digital commodities," "digital collectibles," "digital tools," and "tokenized securities." He emphasized tailored regulations and exemptions for crypto assets, maintaining anti-fraud provisions, and supported legislative efforts for a comprehensive crypto market structure by 2025.
Policy & regulation Guidance & interpretation Fintech and insurtech Tokenization
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2025-11-12•Chile•Chile Financial Market Commission
Chile's Financial Market Commission released its eighth Annual Regional Financial Sector Statistics Report, noting increased access to financing and savings instruments as of March 2025. It includes data on banking, cooperatives, non-banking payment card issuers, mutual mortgage companies, insurance companies, and new regional statistics on mutual funds. A regional statistics visualisation tool was also published to aid analysis of local economies and financial inclusion policymaking.
Data & statistics Financial inclusion
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2025-11-12•Chile•Chile Financial Market Commission
Chile’s Financial Market Commission (CMF) is consulting on amendments to General Rule No. 514 for the Open Finance System, proposing a 12-month delay to its implementation, now set for July 2027. The amendments introduce a phased trial approach, with voluntary and mandatory phases, and adjustments to reporting intervals and authorisation requirements. The consultation follows feedback from financial entities and aims to refine the framework's rollout.
Policy & regulation Rules & requirements Open banking and finance
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2025-11-12•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released seminar materials on financial reporting, focusing on IFRS and ESRS disclosures for 2025 reports. Priorities include issuer-specific disclosures, sustainability reporting under CSRD, and expanded capital-markets functions from Euronext Oslo Børs. A NOK 10 million fine was imposed for unlawful inside information dissemination during pre-close analyst calls.
Supervision Supervision approach, priorities & toolkit ESG
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2025-11-12•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet fined Yiheng Capital Management, L.P. NOK 140,000 for breaching notification obligations for net short positions under the Norwegian Securities Trading Act and EU Short Selling Regulation. The violations involved late reporting of four net short positions in Autostore Holdings LTD on Euronext Oslo Børs, due to internal tracking discrepancies. Finanstilsynet deemed the conduct negligent and will publish the decision, rejecting Yiheng's request for anonymity.
Enforcement Investigations & enforcement actions Market abuse
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2025-11-12•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration director Li Yunze met with Chubb Group chairman and CEO Evan Greenberg to discuss the outlook for China's insurance and asset management sectors and Chubb's development in China.
Other
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2025-11-12•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) approved General Resolution No. 1090 to reorganize the regulatory framework for individually issued negotiable securities in CNV-authorized markets. The resolution aims to simplify rules to encourage the use of these instruments, reduce financing costs, and enhance market access for small and medium-sized enterprises (PyMEs). The framework focuses on trading, holding, custody, and payment at maturity to broaden investment opportunities.
Policy & regulation Rules & requirements SME financing
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2025-11-12•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva announced a regulatory modernization program at the IAEF Symposium, highlighting 100 General Resolutions for deregulation and simplification. Key initiatives include the Automatic Public Offering regime, tokenization, and regulation of Virtual Asset Service Providers, aligning Argentina's capital markets with international standards. The event included discussions on competitiveness, risks, and sustainability with remarks from financial officials and market leaders.
Policy & regulation Rules & requirements Market development
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2025-11-12•Luxembourg•Ministry of Finance (Luxembourg)
Luxembourg’s Finance Minister Gilles Roth visited London to discuss European financial market competitiveness with major UK financial firms. Roth emphasized the need for connected markets to facilitate innovation and capital flow, opposing centralized supervision in favor of trust in supervisory practices. He highlighted Luxembourg's role as a cross-border financial center for mobilizing capital for digital transformation, energy transition, and defense investments.
Policy & regulation Reform agendas & priorities Cross-border cooperation
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2025-11-12•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency, led by Superintendent Francisco A. Torres, addressed challenges in the pension system, highlighting pension fund assets' growth to 20% of GDP and the Social Solidarity Fund's role. Efforts focus on enhancing technical capabilities, simplifying processes, and improving public awareness, including training over 18,269 workers. Future initiatives will encourage retirement projections to improve outcomes.
Supervision Supervision approach, priorities & toolkit Other
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2025-11-12•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance detailed Economy Minister Luis Caputo’s measures to strengthen the insurance sector, emphasizing labour and tax reforms. Proposals include increased tax deductions for life and retirement insurance, reduced employer payroll charges, and a termination fund to address labour litigation. The CIDeS conference attracted over 250 participants, with Superintendent Guillermo Plate representing Argentina at the International Association of Insurance Supervisors Annual Conference.
Policy & regulation Reform agendas & priorities Market development
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2025-11-12•India•Securities & Exchange Board of India
The Securities and Exchange Board of India released the High Level Committee's report on conflicts of interest, disclosures, and related issues involving SEBI members and officials. The report was submitted to the SEBI Chairman on 10 November 2025.
Policy & regulation Guidance & interpretation Other
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2025-11-12•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub released an update on Project Titus, which examines the use of auction mechanisms and automated side-payments to enhance liquidity efficiency in real-time gross settlement systems. The project demonstrated significant liquidity savings and high clearing rates, with implications for tokenised and instant payment systems.
Research Market infrastructure
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2025-11-12•Armenia•Central Bank of Armenia
The Central Bank of Armenia reported that Governor Martin Galstyan participated in the Bank of Albania’s centennial conference, discussing monetary policy challenges. Galstyan emphasized a prudent risk-management approach and the CBA’s “least regrets” decision-making framework to maintain policy flexibility and credibility amid uncertainty.
Monetary policy Monetary policy framework & strategy Monetary policy decisions and developments
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2025-11-12•India•Insurance Regulatory and Development Authority of India
The Government of India’s Ministry of Finance highlighted the IMF’s Financial System Stability Assessment and the World Bank’s Financial Sector Assessment for India. The World Bank graded India’s insurance sector as sound in observing Insurance Core Principles, noting strengths in licensing, suitability requirements, enforcement powers, and public disclosure. Recommendations include enhancing credit risk management, developing conduct risk monitoring in securities markets, scaling climate-related investments, and improving MSME credit data.
Policy & regulation Guidance & interpretation Financial stability and systemic risk Supervision process and methodologies
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2025-11-12•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago has registered WamNow Technologies Limited as an e-money issuer following its provisional registration period. WamNow, using its digital wallet app Wam, is authorized to provide e-money accounts, payment services, and remittance services. The Central Bank will continue to oversee WamNow's compliance with relevant e-money regulations.
Supervision Authorisations & approvals Licence approval
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2025-11-12•Moldova•National Bank of Moldova
The National Bank of Moldova released findings from its 2023 assessment of money laundering and terrorist financing risks in the banking sector, highlighting adequate governance and internal controls. Conducted under Article 15(4) of Law No. 308/2017, the assessment informs risk-based supervision and resource allocation by evaluating higher-risk customer segments, products, services, and geographical exposures.
Supervision Risk monitoring & watch points AML and CFT
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2025-11-12•Moldova•National Bank of Moldova
At a conference on Moldova's EU enlargement, First Deputy Governor Petru Rotaru outlined the National Bank of Moldova's alignment with EU standards, highlighting reforms for joining the Single Euro Payments Area (SEPA). He discussed harmonization with EU rules on payment services and anti-money laundering, governance improvements in the insurance sector, and plans for a regulatory framework for virtual asset service providers by June 2027.
Policy & regulation Reform agendas & priorities Cross-border cooperation Financial stability and systemic risk
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2025-11-12•Bahamas•Insurance Commission of the Bahamas
The Insurance Commission of the Bahamas participated in the IAIS FinTech Forum in Amsterdam, focusing on digital innovation and AI's impact on insurance supervision and markets. The forum, hosted by De Nederlandsche Bank, included discussions on SupTech tools and agentic AI implications for emerging markets.
Supervision Cooperation Fintech and insurtech Supervision process and methodologies
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2025-11-12•Barbados•Central Bank of Barbados
The Central Bank of Barbados issued a warning about the fraudulent website bimpayer.pro, which mimics the Bank's logo and solicits payments. The Bank emphasized that it does not request payments from the public and advised against visiting the site or sharing personal information. It urged those affected to report to the Barbados Police Service and consult the Bank’s Corporate Communications Unit.
Supervision Alerts Fraud and scams
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2025-11-11•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission (FSC) has mandated a one-month trading suspension of Tchaikapharma High Quality Medicines AD shares and initiated legal action to block access to unauthorized investment service websites. Additionally, the FSC approved the trading of Euro Invest Management AD shares and updated insurance-related registers. Amendments to the FSC's internal rules were also adopted.
Supervision Interventions Trading
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2025-11-11•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance has renewed the Capital Market Consultative Council, appointing Mauricio Larraín Errázuriz as chair and Guillermo Larraín Ríos as vice-chair. The council, which had not convened since early in the year, aims to enhance public-private dialogue on financial system development and propose regulatory reforms. Gonzalo Arriaza continues as executive secretariat from the Ministry’s Capital Market Coordination team.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-11-11•Israel•Bank of Israel
Bank of Israel Governor Prof. Amir Yaron attended a Bank for International Settlements meeting in Basel, Switzerland, where he led a discussion on the macroeconomic implications of artificial intelligence as Chairman of the Forum of Small and Open Economies.
Policy & regulation Cooperation Artificial intelligence Macroprudential policy and tools
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2025-11-11•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has licensed Darb Pay for Information Technology to offer e-wallet payment services in Saudi Arabia, increasing the total number of SAMA-licensed payment service providers to 28. SAMA advises customers to engage only with authorised financial institutions and directs them to its website for a list of licensed entities.
Supervision Authorisations & approvals Licence approval
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2025-11-11•Pakistan•State Bank of Pakistan
State Bank of Pakistan Governor Jameel Ahmad, at the International Capital Market Conference 2025, advocated for regional cooperation and innovation to integrate Asia's capital markets. He highlighted smoother capital flows, harmonised regulation, and alternative financing for climate and infrastructure. Ahmad discussed Pakistan's initiatives under SBP’s Vision 2028 and Uraan Pakistan, including linking the Raast payment system with the Arab Monetary Fund’s Buna platform and developing a unified digital identity framework.
Policy & regulation Reform agendas & priorities Cross-border cooperation Market development
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2025-11-11•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) stressed financial literacy's role in economic stability during its OJK Mengajar session at the University of Bengkulu. Vice Chairman Mirza Adityaswara emphasized understanding the financial landscape amid digital and global changes and outlined the Financial System Stability Committee's roles. The event, part of OJK's 14th anniversary, attracted significant participation from students and industry professionals.
Financial literacy & education Financial literacy and education
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2025-11-11•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities and Commodities Authority hosted the International Organization of Securities Commissions Regional Committee for Africa and the Middle East meeting in Abu Dhabi, focusing on regional capital market priorities, cross-border cooperation, and regulatory frameworks. Discussions included risks in digital securities markets, the I-SCAN global warning system, and initiatives to enhance market integration and supervisory cooperation.
Policy & regulation Cooperation Cross-border cooperation Market development
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2025-11-11•Italy•Bank of Italy
The Bank of Italy released updated statistics in its "Banks and Money: National Data" series, reflecting figures as of September 2025.
Data & statistics Monetary data
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2025-11-11•Italy•Bank of Italy
The Bank of Italy released the November 2025 issue of “The Italian economy in brief,” offering updated data on Italy’s economic and financial systems. The bulletin includes sections on real economic activity, prices, foreign transactions, private sector financial conditions, banking sector developments, public finances, and inflation and growth forecasts.
Data & statistics Economic data and developments
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2025-11-11•Italy•Bank of Italy
The Bank of Italy released updated statistics on international tourism in Italy as of August 2025, derived from surveys of resident and non-resident travellers at border crossings, ports, and airports.
Data & statistics Balance of payments and other external statistics
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2025-11-11•Italy•Bank of Italy
The Bank of Italy hosted the third "Women in Central Banking" workshop, co-organised with the Federal Reserve Bank of Dallas and Norges Bank, focusing on diversity and inclusion in central banks. The event featured 12 selected papers on inflation, monetary policy, banks, financial markets, and the labour market, with keynote lectures and mentoring by senior economists. The next edition will be hosted by Banco de México in 2026.
Institutional development Cooperation & capacity building Diversity and inclusion
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2025-11-11•Australia•Australian Securities & Investments Commission
ASIC has initiated Federal Court proceedings against AVZ Minerals Limited and two directors for alleged disclosure breaches and misleading conduct related to the Manono lithium project in the Democratic Republic of the Congo. ASIC claims AVZ failed to disclose a legal dispute over share acquisition, and directors Nigel Ferguson and Graeme Johnston allowed misleading ASX announcements. ASIC seeks declarations of contravention and penalties, following AVZ's trading halt, suspension, and removal from the ASX.
Enforcement Investigations & enforcement actions Disclosures
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2025-11-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has disqualified Anthony Stephen Prior from managing corporations for five years due to his role in the failure of three hospitality companies, which owed AUD 5,764,098 to unsecured creditors. ASIC found Prior failed to exercise due care, improperly used his position, and did not prevent insolvent trading. The decision was supported by liquidator reports and Prior's previous involvement with failed companies Keystone Group Holdings Pty Limited and York Rooftop Pty Limited.
Enforcement Sanctions & designations Corporate governance
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2025-11-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released preliminary findings from its review of Australia's motor vehicle finance sector, highlighting problematic sales tactics and oversight gaps among lenders. ASIC noted significant variations in loan establishment costs and that nearly half of consumer defaults occurred within six months. Recommendations include improved training, accreditation, and oversight of brokers and dealers, with detailed findings and responses expected in 2026.
Supervision Reviews, inspections & stress tests Lending Consumer and investor protection
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2025-11-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that Krishnakumar Sitaram Agrawal, a director of the Mansa Group, has been sentenced to four years and ten months in prison for forgery and dishonesty offences. The District Court of New South Wales found Agrawal guilty of using false documents to secure financial advantages and misusing his director position to gain benefits, resulting in over AUD 20 million in loans. The Mansa Group, consisting of 27 companies, is now in administration or liquidation.
Enforcement Investigations & enforcement actions Fraud and scams
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2025-11-11•Botswana•Bank of Botswana
The Bank of Botswana clarified that Governor Cornelius K Dekop has not publicly announced his departure, countering social media claims. A government press release confirmed a mutual separation agreement between Governor Dekop and President Duma Gideon Boko, effective 10 February 2026. The Bank urged reliance on official communications for accurate information.
Supervision Alerts Leadership change and appointments
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2025-11-11•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued decisions on rule-making and market authorisations, including approvals for draft instruments on foreign direct investment screening and personal sanctions. It approved bond prospectus amendments for ULF-FINANCE LLC, cancelled a bond registration for the State Agency of Highways of Ukraine, and registered share issues for JSC “ZNVCIF “ELION” and JSC “ZNVCIF “KOLOVRAT.” It also approved significant participation acquisitions in SMART BOND.UA LLC and a Supervisory Board appointment for NOVAVEST LLC.
Policy & regulation Rules & requirements Securities offerings and listings
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2025-11-11•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market now permits issuers to conduct multiple public offerings of corporate bonds using a base prospectus, streamlining the issuance process. This approach reduces approval timelines to 10 working days and lowers issuer costs by consolidating updates into a single document. The first bond issue under this framework was registered in February 2025.
Policy & regulation Rules & requirements Securities offerings and listings
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2025-11-11•Netherlands•De Nederlandsche Bank
Olaf Sleijpen of De Nederlandsche Bank stressed the need for better coordination between monetary and fiscal policy amid economic and political challenges, while maintaining independence. He warned that fiscal disparities in the Economic and Monetary Union could weaken monetary policy and financial stability. Sleijpen also highlighted long-term fiscal pressures from climate action, digital transition, ageing, and defence spending, questioning their impact on price stability and the potential role of deeper European capital markets.
Research Monetary policy decisions and developments
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2025-11-11•Uruguay•Central Bank of Uruguay
Uruguay's Central Bank president, Guillermo Tolosa, emphasized strong banking conditions and plans to promote the Uruguayan peso to support dedollarisation. Tolosa highlighted capital levels nearly double regulatory requirements, low external funding reliance, and high liquidity, linking high dollarisation to limited credit growth. He argued increased peso use would enable banks to expand local-currency lending and diversify business models.
Monetary policy Monetary policy framework & strategy Capital adequacy Liquidity risk
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2025-11-11•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission, with the Secretariat of Finance and Public Credit and its Financial Intelligence Unit (UIF), identified 13 casinos involved in cash-intensive activities and cross-border flows, adding them to the blocked entities list. The investigation revealed international money laundering patterns across Mexican states, with funds transferred to the U.S. and European countries. The UIF will file complaints with the Attorney General's Office, notify the Federal Fiscal Attorney's Office, and cooperate with the U.S. Treasury's FinCEN and OFAC.
Enforcement Investigations & enforcement actions AML and CFT
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2025-11-11•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance and Public Credit, with the Security Cabinet, identified 13 casinos involved in high-risk financial activities, including unsupervised digital transactions and cross-border cash flows. Linked to potential money laundering and organized crime, these casinos are now on the blocked legal entities list. The Financial Intelligence Unit will file complaints with the Attorney General and notify the Federal Tax Attorney’s Office, cooperating with the US Treasury’s FinCEN and OFAC.
Enforcement Sanctions & designations AML and CFT
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2025-11-11•Georgia•National Bank of Georgia
The National Bank of Georgia's Vice Governor Ekaterine Galdava met with the Bank of Korea to explore cooperation under a bilateral agreement, focusing on payment system interoperability. The Bank of Korea proposed a regional initiative to enhance compatibility and simplify international transfers. The partnership supports Georgia's payment system modernization and integration into international frameworks.
Policy & regulation Cooperation Cross-border cooperation Payments and payment systems
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2025-11-11•Georgia•National Bank of Georgia
The National Bank of Georgia hosted a training on anti-money laundering (AML) and countering the financing of terrorism (CFT) for accounting professionals, marking International Accountants’ Day. Vice Governor Ekaterine Galdava emphasized its role in preventive supervision and compliance improvement, aligning with Financial Action Task Force recommendations. The event was part of the National Bank's ongoing cooperation with the Accountants’ Union.
Supervision Cooperation AML and CFT
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2025-11-11•Indonesia•Bank Indonesia
Bank of Indonesia's latest Retail Sales Survey indicates retailers expect a 4.3% year-on-year increase in the Real Sales Index (RSI) for October 2025, up from 3.7% in September. Monthly growth is projected at 0.6%, driven by broader gains and seasonal demand ahead of Christmas.
Data & statistics Economic data and developments
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2025-11-11•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan, with Capital Market Infrastructure Institutions, hosted the International Capital Market Conference and Expo 2025 in Karachi, focusing on regional integration and innovation. Discussions included regional connectivity, global practices, and trading infrastructure reforms, with panels on regulation, fintech, AI, and pension reforms. International speakers included the CEO of the Securities and Futures Commission of Hong Kong, P.R. China, discussing digital asset regulation.
Policy & regulation Cooperation Market development
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2025-11-11•Bahamas•Insurance Commission of the Bahamas
The Insurance Commission of the Bahamas reported that Superintendent of Insurance Dana Munnings-Gray and Manager of Communications, Business Intelligence and Consumer Awareness Rodney D. Bain represented the authority at the International Association of Insurance Supervisors FinTech Forum in Amsterdam. The two-day hybrid event gathered more than 60 insurance supervisors to discuss digital innovation and artificial intelligence in insurance, including SupTech tools for supervisory reporting and the implications of agentic AI for emerging markets.
Supervision Cooperation Fintech and insurtech Supervision process and methodologies
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2025-11-11•Bahamas•Insurance Commission of the Bahamas
The Insurance Commission of the Bahamas reported on its participation in the 2025 Global Forum on Private Pensions in Istanbul, part of efforts to strengthen pension supervision after The Bahamas became a Governing Member of the International Organisation of Pension Supervisors in September 2025. The forum gathered 130 officials and experts from 52 countries to discuss pension digitalisation, asset-backed systems, payout phase supervision, life cycle strategies, voluntary participation, and the role of pension funds in capital market development, which the Commission said will inform its domestic work and collaboration with the organisation.
Policy & regulation Cooperation
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2025-11-11•Bahamas•Insurance Commission of the Bahamas
The Insurance Commission of the Bahamas reported its first participation in the United Nations Development Programme Sustainable Insurance Forum Biannual Meeting in Tirana, Albania, held alongside the International Association of Insurance Supervisors Annual Conference. The meeting reviewed the forum’s proposed 2026–2027 strategy, agreed priorities for its next phase, noted the appointment of Fundi Tshazibana as SIF Chair, and was framed by The Bahamas’ climate-related risk exposure.
Policy & regulation Cooperation Climate risk and sustainable finance Domestic cooperation
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2025-11-11•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) detailed its committee system, highlighting standing committees' role in fostering collaboration among US state insurance regulators. The structure includes task forces and working groups that develop model laws, oversight strategies, and consumer protections. Seven standing committees cover key regulatory areas, including Life Insurance, Health Insurance, Property and Casualty Insurance, and Innovation and Cybersecurity.
Institutional development Governance Organizational structure
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2025-11-11•Laos•Bank of the Lao
The Bank of the Lao PDR conducted a two-day training on International Financial Reporting Standards (IFRS) for non-bank financial institutions, focusing on readiness for IFRS implementation under Notice No. 16/BOL. The program, attended by 220 participants, covered IFRS requirements, gap analysis, implementation plans, and financial reporting preparation.
Policy & regulation Implementation, projects & pilots Accounting and financial reporting
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2025-11-11•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) announced that the Department of Justice’s Office of Legal Counsel has determined the CFPB cannot legally request funds from the Federal Reserve under Dodd-Frank due to a lack of "combined earnings." Despite this, the CFPB expects to maintain operations until at least 31 December 2025.
Policy & regulation Guidance & interpretation Liquidity risk
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2025-11-11•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance outlined an economic policy agenda at the 8th Athens Investment Forum, focusing on increased investment, stronger exports, and productivity growth, linked to the draft 2026 budget with a 2.4% growth forecast. The agenda includes major tax reforms, a rise in investment from 11% to 18% of GDP by 2026, and leveraging public resources with private investment. The speech also highlighted ongoing digitisation of public services and upcoming legislative changes regarding inactive charitable foundations.
Policy & regulation Reform agendas & priorities Other
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2025-11-11•Greece•Ministry of National Economy and Finance (Greece)
Minister Kyriakos Pierrakakis of Greece's Ministry of National Economy and Finance outlined priorities to support artisans and SMEs in Northern Greece, focusing on competitiveness, liquidity, and growth capacity. He highlighted Central Macedonia's economic contributions, improved fiscal indicators, and a tax reform package linked to EU fiscal frameworks. The address emphasized increased financing flows, vocational education links, and incentives for business cooperation.
Policy & regulation Reform agendas & priorities Other
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2025-11-11•Sweden•Riksbank
Sweden's Riksbank released a Staff Memo analyzing stablecoins, highlighting their potential to enhance payment systems while cautioning against risks to financial stability and consumer protection. The memo notes rapid market growth to USD 272 billion by October 2025, with stablecoins primarily pegged to the US dollar and used in crypto trading. It discusses regulatory responses and open questions for central banks regarding stablecoin issuers' access to settlement systems and liquidity backstops.
Research Stablecoins
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2025-11-11•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) reported that savings and credit cooperatives (Coopac) have gained 500,000 new members since the end of 2024. Level 2B and 3 Coopac will access the credit risk registry by the end of 2025 to enhance credit risk management. The SBS noted that over 36% of borrowers are exclusive to the cooperative system, with significant lending to rural and women borrowers.
Supervision Authorisations & approvals SME financing
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2025-11-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to banks like The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA stressed that banks do 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's Crime Wing Information Centre.
Supervision Alerts Fraud and scams
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2025-11-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced the successful pricing of the Hong Kong Special Administrative Region Government’s third digital green bond issuance, totaling approximately HKD 10 billion across four currency tranches. Part of the Government Sustainable Bond Programme, it introduced tokenised central bank money settlement options and achieved total subscriptions exceeding HKD 130 billion. The bonds will finance eligible projects under the Government’s Green Bond Framework, with plans to regularise tokenised bond issuance and establish benchmarks.
Policy & regulation Implementation, projects & pilots Securities offerings and listings
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2025-11-11•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Academy of Finance, chaired by the Chief Executive of the Hong Kong Monetary Authority, has opened applications for the 2026 Financial Leaders Programme. This part-time programme targets senior financial executives for strategic leadership development and cross-sector engagement. The next cohort will commence in April 2026.
Financial literacy & education Leadership change and appointments
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2025-11-11•Global•CDP
CDP's report on 2024 disclosures from nearly 12,000 companies reveals over USD 54 billion in annual savings from low-carbon initiatives but highlights a gap between transition ambition and funding, with only 11% aligning capital expenditure to strategies. The report identifies technology, infrastructure, and supportive policy as key dependencies, suggesting policy levers to unlock investment. Additionally, 544 financial institutions disclosed using corporate transition-plan data in due diligence, with stronger physical-risk preparedness noted among companies with transition plans.
Research Climate risk and sustainable finance
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2025-11-11•Global•Bank for International Settlements
The Bank for International Settlements and the South African Reserve Bank announced the winners of the G20 TechSprint 2025 challenge, focusing on trust and integrity in finance. Ownapay SA won for digital identity, Silence Laboratories for credit data portability, and FNA and Proto for fraud and cyber risk mitigation in fast payments. The challenge, part of the G20 global hackathon, featured solutions from 15 shortlisted teams.
Policy & regulation Implementation, projects & pilots