The Slovenia Insurance Supervision Agency has issued a revised supervisory position on outsourced activities, replacing previous positions from 2021 and 2022. This update incorporates recent amendments to Slovenia’s Insurance Act (ZZavar-1D) but does not alter the position on outsourcing key functions.
The Superintendency of Banking, Insurance and Private Pension Funds of Peru warned against unauthorized entities and individuals, including Meta Partners S.A.C., collecting public funds. These promoters falsely claim risk-free, high-return investments, often using notarised contracts and negotiable instruments. The SBS emphasized the need for prior authorisation under Law No. 26702 and urged public vigilance against such schemes.
The World Bank published "Evolving Practices in Public Investment Management," featuring papers on portfolio and risk management for central banks, sovereign wealth funds, and public pension plans. This follows the Ninth Public Investors Conference, co-hosted by the Bank for International Settlements, the World Bank, the Monetary Authority of Singapore, and the Banca d’Italia. The publication supports the World Bank Reserve Advisory & Management Partnership's efforts in public asset management and knowledge sharing.
The Hong Kong Monetary Authority issued a public alert regarding bank-related scams involving fraudulent websites and phishing messages linked to several banks, including The Bank of East Asia and HSBC. The HKMA emphasized that banks will not request sensitive information via SMS, email, or embedded hyperlinks. Individuals affected by these scams are advised to contact their bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority concluded the main session of its fourth Global Financial Leaders’ Investment Summit, attended by around 300 global financial leaders. Discussions focused on global economic and trade developments, financial markets, and technology and innovation. The summit featured keynote speeches from prominent figures including Vice Premier He Lifeng and Hong Kong SAR Chief Executive John Lee.
GAFILAT held sessions in Santo Domingo on money laundering and terrorist financing risk assessments to enhance AML/CFT systems. The sessions featured practical exercises and strategic discussions on regional risk analysis and upcoming changes for the fifth round of mutual evaluations. GAFILAT reported positive outcomes, aligning with its annual strategic plan.
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about several websites, including amazon-forex.com and novatradecore.com, which are not authorized to provide investment services under Article 5 of Law 87(I)/2017. CySEC advises investors to verify the licensing status of investment firms on its website before engaging in business.
The Isle of Man Financial Services Authority has de-registered Haven Taxation Services under the Designated Businesses (Registration & Oversight) Act 2015, effective 4 November 2025.
Mangrove Insurance Solutions PCC Limited – Cell SCP has surrendered its insurer authorisation under section 8 of the Insurance Act 2008, effective 3 November 2025, as announced by the Isle of Man Financial Services Authority.
The Isle of Man Financial Services Authority has de-registered Trusted Accounts Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 4 November 2025, pursuant to section 12(1)(a) of the Act.
The Isle of Man Financial Services Authority announced the de-registration of Indara Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 3 November 2025.
The Isle of Man Financial Services Authority reminded financial advisers and insurance intermediaries of their obligations under the Insurance Act 2008 when selling long-term "pure protection" contracts. Firms must comply with business agreements and document advice to customers. The Authority also noted the removal of a previous exemption allowing independent financial advisers to avoid registration under the Insurance Act 2008.
The Isle of Man Financial Services Authority released a feedback statement on proposals to implement a Net Stable Funding Ratio (NSFR) requirement under the Island’s Basel III liquidity standards. This follows a July 2025 discussion paper and a six-week consultation with responses from all five Isle of Man-incorporated banks. The statement summarizes feedback and outlines any changes and next steps.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has approved Oksana Aleksandrovna Bukhtiyarova as head of the executive body of the KMF-Demeu Corporate Fund.
The Central Bank of the Republic of Uzbekistan has approved new regulations for transactions in precious metals, including buying and selling measured gold bars via mobile apps. The framework allows individuals and legal entities to trade gold and silver in real-time, with prices set using the London Precious Metals Market Association fixing. Commercial banks can purchase gold bars from the central bank and resell them independently.
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning about Telegram groups falsely representing Rhynco Wealth Management, an authorised financial services provider. These groups are using Rhynco Wealth’s name and logo to promote unauthorized cryptocurrency investments. The FSCA advises caution and urges consumers to verify authorisation details through its official channels.
The Financial Sector Conduct Authority (FSCA) issued a warning to consumers about Forex Major, which is soliciting funds for investment without authorisation. Forex Major offers unauthorised copy trading services and has not responded to FSCA enquiries. The FSCA advises consumers to verify the authorisation of entities and individuals, especially for unsolicited offers or those made on social media.
The Central Bank of Slovenia warned that the Nevakred website falsely claims to be an authorised credit institution, exposing consumers to risks and potential fraud. It urged verification of firms' status via its register and advised those who have transacted with Nevakred to contact the Market Inspectorate or police, noting breaches of the Banking Act, Consumer Credit Act, and Consumer Protection Act.
European Central Bank President Christine Lagarde, in Sofia, discussed Bulgaria's euro area entry on 1 January 2026, emphasizing economic gains and addressing sovereignty and price concerns. She highlighted benefits like reduced currency conversion costs for SMEs, improved access to European capital markets, and enhanced economic security. Lagarde noted Bulgaria's currency board already imports monetary policy, and joining the euro area would provide representation in the ECB's Governing Council.
The European Central Bank released a paper by Laura Gáti and Amy Handlan on how central banks communicate forecasts amid uncertainty, termed "reputation for confidence." The study suggests mismatches between actual and perceived confidence can lead to partial transparency and deliberate imprecision as optimal strategies. Analysis of Federal Reserve communications supports the model, showing higher confidence and lower reputation correlate with more precise statements.
The Brazilian Superintendence of Private Insurance (SUSEP) visited Spain’s Directorate-General for Insurance and Pension Funds to exchange supervisory knowledge on mutuals, following the introduction of mutualistic property protection into SUSEP’s market. The visit focused on regulatory aspects like accounting, auditing, and risk management, aiming to enhance regulation and supervision for mutual entities in Brazil. SUSEP emphasized the importance of this exchange in strengthening legal certainty, financial stability, and consumer protection.
The UAE Securities & Commodities Authority, with ADGM Academy and Sandooq Al Watan, launched the third Financial Market Pioneers Program for 33 university students and early-career professionals. It includes modules on investment, risk management, derivatives, Islamic finance, sustainable finance, and regulation, plus internships and mentorships. This initiative aims to develop national talent and enhance the UAE's economic diversification and competitiveness.
The National Bank of the Republic of Tajikistan has licensed LLC RSM Tajikistan to conduct audits of credit institutions, invalidating its previous banking-system audit licence from June 2020.
The India International Financial Services Centres Authority (IFSCA) released a consultation paper on the proposed IFSCA (Pension Fund) Regulations, 2025, to establish a regulatory framework for launching pension schemes from GIFT-IFSC. The proposals aim to develop a forex pension framework for non-resident Indians, persons of Indian origin, and foreign expatriates, featuring voluntary participation, flexible contributions, diverse investment options, and integration with medical policies.
South Korea's Financial Supervisory Service reported a 3.0% rise in domestic financial holding companies' assets to KRW3,867.5 trillion and a 9.9% increase in net income to KRW15.4428 trillion for H1 2025. Banking assets and net income led growth, while substandard loans rose to 1.04% and the provision coverage ratio dropped to 104.3%. The FSS urged FHCs to monitor subsidiaries' financial soundness.
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation via insuranceniriass.eu and temporanea.assicurpoint.it, instructing Italian providers to block access. This raises the total number of blocked websites to 307 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers and intermediaries through its registers before making payments.
The European Central Bank released a Working Paper introducing a multi-country framework for compiling distributional national accounts, integrating household income and wealth data for euro area countries. Utilizing microdata from the Household Finance and Consumption Survey, it addresses micro-macro coverage gaps, revealing a skewed distribution of wealth and income, with capital-income components more unequally distributed than labor income. Robustness checks confirm the consistency of results, aligning broadly with Eurostat's distributional income accounts.
The European Central Bank released the disaggregated financial statement of the Eurosystem as of 3 October 2025, detailing assets and liabilities by national central bank and the European Central Bank, with total assets and liabilities at EUR 16,209,218 million. Key figures include EUR 4,168,246 million in euro-denominated securities of euro area residents on the asset side and EUR 1,591,429 million in banknotes in circulation on the liability side. Consolidation adjustments were EUR -241,642 million.
South Korea's Financial Services Commission announced cabinet approval of amendments to the Enforcement Decree under the Special Act on the Prevention of Loss Caused by Telecommunications-based Financial Fraud. The changes expand customer due diligence requirements to include specialized credit finance and consumer credit businesses with assets of KRW50 billion or more, aiming to curb vishing and related fraud. Non-compliance may result in fines up to KRW10 million and compensation obligations for victims.
The European Systemic Risk Board published a report on the credit default swaps market, warning that imperfections in the single-name segment can impede price discovery and limit the reliability of CDS spreads for assessing creditworthiness. It highlights low trading volumes, high counterparty concentration, incomplete post-trade transparency and data gaps, particularly for European sovereigns and Global Systemically Important Banks, and calls for better data quality, transparency and cross-jurisdictional coordination through a medium-term policy roadmap.
The Central Bank of Estonia reported a 5% decrease in banknote issuance and a 33% decrease in coin issuance in Q3 2025 compared to Q2. Coin returns dropped 44% from the previous quarter, while banknote returns increased by 7%. ATM cash withdrawals and deposits both fell by 7% year-on-year, with Estonia maintaining 662 ATMs and 700 retail cash-withdrawal points.
Poland's Ministry of Finance announced the Council of Ministers' adoption of a draft bill amending the legal framework for cooperative banks to streamline rules and reduce administrative burdens. Key changes include simplifying association agreement amendments, removing certain reporting obligations to the Polish Financial Supervision Authority, and empowering entities for faster support. The draft also introduces a presidents’ assembly as a new association body and clarifies accounting policies for protection-system aid funds.
The Brazil Securities Commission (CVM) has extended the comment period for its public consultation on proposed amendments to CVM Resolution 77, which regulates trading by public companies in their own shares. The changes aim to enhance the framework for listed companies and are part of the 2025 Regulatory Agenda.
The Brazil Securities Commission (CVM), with the Ibero-American Institute of Securities Markets and Spain’s National Securities Market Commission, announced a São Paulo event on 7 November 2025 to discuss sustainable finance taxonomies and present new Taxonomy Interoperability Principles. It will feature presentations and panels with regulators and experts on cross-jurisdiction consistency and interoperable classification systems for sustainable capital allocation. The forum precedes COP30 in Belém, Pará.
The Guernsey Financial Services Commission has launched a financial literacy initiative by adding a Financial Literacy Resources page to its website, enhancing educational materials for the local community. This follows a partnership with EDUCFI, the French National Financial Literacy Strategy, and aims to provide clear, unbiased resources on topics like household debt and inflation.
The Albania Financial Services Authority will host the International Association of Insurance Supervisors Annual Conference in Tirana from 10 to 14 November 2025, with the main event on 13 November. The programme includes IAIS technical committee meetings and the European Insurance and Occupational Pensions Authority Forum, focusing on European integration implications for candidate countries. AMF CEO Mimoza Kaçi emphasized the event's role in enhancing international supervisory cooperation and supporting Albania's reform agenda.
The Central Bank of the Republic of Azerbaijan conducted AML/CFT training sessions for financial institutions, emphasizing customer due diligence and institutional risk assessment. Online sessions on 29–30 October targeted various financial entities, while an in-person session on 31 October focused on currency exchange offices, covering legislative obligations and risk assessment methodologies.
The Central Bank of the Republic of Azerbaijan held a two-day "Sustainable Finance" training for the banking sector, facilitated by Ernst & Young, to enhance green transition capabilities. The program covered climate-related financial disclosures, including IFRS S1 and S2 standards, and methodologies for calculating banks' financed emissions. Executive Director Shahin Mahmudzadə emphasized the importance of human capital development and collaboration with partners.
The Central Bank of Paraguay hosted the 43rd Meeting of Presidents of South American Central Banks in Asuncion, with delegates from seven countries discussing cryptoasset regulation, climate-related monetary policy challenges, payment systems and asset tokenization. Participants emphasized technical cooperation, safe financial innovation and macroeconomic stability. They also agreed to meet next in Chile in 2026 and Uruguay in 2027.
Governor Khalid Humaidan of the Central Bank of Bahrain outlined the Bank's digitalisation agenda at the Gateway Gulf Forum 2025, focusing on instant payments, payments infrastructure, and central bank digital currency (CBDC) use cases. He emphasized the financial sector's role as a major GDP contributor and foreign investment recipient. The agenda aims to enhance interbank payments, support the digital economy, and develop supervisory technology, balancing innovation with financial stability.
The Central Bank of Bahrain announced a partnership between The BENEFIT Company and NPCI International Payments Limited to connect Bahrain and India's instant payment systems. This collaboration will link Bahrain’s Electronic Fund Transfer System, including the Fawri+ service, with India’s Unified Payments Interface (UPI), facilitating instant payments and transfers for residents in both countries.
The Global Legal Entity Identifier Foundation named the London Stock Exchange Group the winner of its Global vLEI Hackathon in the Digital Asset and Financial Infrastructures category for using the Legal Entity Identifier and verifiable LEI in automated compliance and trusted digital transactions. Clearstream was the runner-up for using the vLEI as a secure login standard for its ClearstreamXact platform, enhancing digital identity and operational efficiency.
The Seychelles Financial Services Authority (FSA) warned about allegedly unauthorised activities by Bitfinity Ltd under the Virtual Asset Service Providers Act, 2024, linked to bitexbit.com. Bitfinity Ltd, registered as an international business company, lacks authorisation to offer virtual asset services. The FSA advises consumers to verify the licensing status of virtual asset service providers and report suspected unauthorised activities.
The Seychelles Financial Services Authority (FSA) warned about unauthorised virtual asset services linked to altify.app, allegedly operated by Revix International Limited. Revix is registered under the International Business Companies Act, 2016, but lacks authorisation under the Virtual Asset Service Providers Act, 2024. The FSA advises consumers to verify virtual asset service providers' licensing and report suspected unlicensed activities.
The International Organization of Securities Commissions (IOSCO) released a report on the single-name credit default swaps (CDS) market, highlighting its illiquidity and concentration among few intermediaries. Prepared for the Financial Stability Board, the report evaluates the benefits and trade-offs of enhancing post-trade transparency, such as reduced information asymmetries and improved price efficiency. IOSCO will continue to monitor the market and consider further actions.
The Reserve Bank of Fiji, with the Ministry of Environment and Climate Change, the United Nations Environment Programme, and NDC Partnership, launched Fiji’s Sustainable Finance Roadmap to align the financial system with national climate and Sustainable Development Goals. It focuses on enhancing ESG risk disclosure, directing capital to sustainable projects, and fostering climate resilience through financial inclusion.
The Talas regional office of the National Bank of the Kyrgyz Republic fined a Kyrgyz citizen KGS 17,500 for unlicensed cash foreign currency exchange operations.
The Thailand Securities and Exchange Commission has amended rules for ICO portals, easing the investment knowledge test burden while mandating investor suitability assessments for digital token investments. Non-institutional and non-high net worth investors must complete a knowledge test, with suitability assessments refreshed biennially. The changes align with existing securities and digital asset business operator requirements, effective 16 November 2025.
The Moroccan Capital Market Authority has approved AXA's prospectus for an employee share issuance, involving a capital increase of up to 58,951,965 new shares. The offering targets employees of various AXA entities in Morocco, with subscription prices set at EUR 31.66 and EUR 37.04. The prospectus is supplemented by AXA's registration document filed with the French Financial Markets Authority and other key documents.
The Moroccan Capital Markets Authority has approved Air Liquide SA's prospectus for a capital increase through the issuance of up to 850,000 new shares, exclusively for its employees. The offer in Morocco targets Air Liquide Maroc employees, with a subscription price of EUR 137.89 (MAD 1,481.45) per share. The prospectus includes the group international shareholding plan and related documents, available on the issuer, BMCI, and AMMC websites.
The Global Legal Entity Identifier Foundation announced London Stock Exchange Group as the winner of the Global vLEI Hackathon for demonstrating how Legal Entity Identifier and verifiable LEI can enhance compliance and transaction trust in digital asset and financial infrastructures. Clearstream was the runner-up for its proposal to use vLEI as a secure login standard for its ClearstreamXact platform.
The Global Legal Entity Identifier Foundation announced the London Stock Exchange Group as the winner of its Global vLEI Hackathon for demonstrating how the Legal Entity Identifier and verifiable LEI can enhance automated compliance and digital transactions. Clearstream was the runner-up for using vLEI as a secure login standard to improve operational efficiency on its ClearstreamXact platform.
The Financial and Consumer Services Commission of New Brunswick's survey highlights gender, disability, and newcomer status as barriers to financial confidence, with online activity increasing risks. It reveals disparities in financial knowledge, comprehension issues with products, and rising losses to scams, especially cryptocurrency. These insights will guide the Commission's financial literacy and consumer protection efforts.
Payments Canada outlined the Government of Canada's Budget 2025 priorities, focusing on modernizing payments in safety, access, and speed. Key developments include the Bank of Canada's supervision of payment service providers under the Retail Payments Activities Act, expanded Payments Canada membership eligibility, and the forthcoming Real-Time Rail for instant transfers. The budget also addresses open banking, stablecoin regulation, and transparency in cross-border transfer fees.
Payments Canada appointed Derek Rego as Chief Information Officer and Shawn Van Raay as Chief Technology Operations Officer, effective 1 December 2025, to support the modernization of Canada's national payment infrastructure. Rego will lead technology strategy and roadmap development, while Van Raay will manage operational performance and security for systems including Lynx, ACSS, and the upcoming Real-Time Rail.
The Central Bank of Chile released its Survey of Price Determinants and Expectations, highlighting stable pricing and sales conditions with slight cost increases and declining profit margins. Costs and the USD exchange rate are exerting more upward pressure on prices than in previous quarters. Median inflation expectations are 4% over 12 months and 3.5% over 24 months.
The Federal Reserve Board has terminated enforcement actions involving written agreements with Riverbend Financial Corporation, Northwest Bancorporation of Illinois, Inc., and First Citizens Bank of Butte. The agreements, dated between 2011 and 2024, were concluded in late October 2025.
The Egypt Financial Regulatory Authority signed a memorandum of understanding with Lebanon’s Insurance Control Commission to enhance cooperation in insurance regulation and supervision. The agreement includes coordination on anti-money laundering, cross-border supervision, and promoting investment in the insurance sector. It also covers training, technical cooperation, and collaboration on actuarial science and takaful insurance frameworks.
The European Central Bank Banking Supervision fined AS LHV Group EUR 405,000 for misreporting consolidated risk-weighted assets for market risk, understating capital requirements for foreign exchange exposures. The breach, over eight quarters from Q2 2022 to Q1 2024, involved incorrect inclusion of an intragroup GBP exposure and was deemed 'moderately severe' due to serious negligence in risk management. AS LHV Group may appeal the decision to the Court of Justice of the European Union.
The Central Bank of Egypt's Financial Stability Report for FY 2024 and Q1 2025 highlights a rise in the financial stability index due to improved macroeconomic indicators and introduces the CBE's macroprudential policy framework. The report notes strong foreign currency financing capacity, Net International Reserves of USD 47.8 billion, and robust banking soundness with a capital adequacy ratio of 18.3%. Stress tests indicate resilience across banking and non-banking sectors under adverse scenarios.
The China Securities Regulatory Commission (CSRC) plans to open China's capital markets and enhance cooperation with Hong Kong by easing cross-border investment, expanding market connectivity, and strengthening supervision. Measures include optimizing the Qualified Foreign Investor regime, expanding Stock Connect securities, and supporting Hong Kong's renminbi initiatives. The CSRC also aims for deeper supervisory cooperation with the Hong Kong Securities and Futures Commission to monitor cross-border capital flows and prevent risk transmission.
The Bank of Cape Verde refuted a newspaper article on a bank's disposal, emphasizing that acquisition assessments are based on an objective legal framework, not automatic. Decision timing depends on involved parties and process complexity. It criticized publishing confidential information without context and reaffirmed its commitment to a risk-based review process and independence from external pressures.
The Argentina Securities Commission (CNV) issued a warning about fraud attempts using its name and logo via social networks, fake websites, and phishing emails. The CNV clarified it does not request payments or personal data through email or contact the public via WhatsApp, social media, or phone. Official communications are only made through institutional channels and published on its website.
The State Bank of Vietnam has mandated credit institutions and regional branches to implement relief measures for those affected by Typhoons 10, 11, and 12, and flooding in Central Vietnam. Measures include debt restructuring, interest and fee reductions, and preferential credit to aid recovery. Institutions must assess affected customers' operations and apply support under existing rules, with regional branches coordinating local efforts.
The Bank of Korea and the Korea Institute of Finance hosted a conference on developing the short-term financial market and promoting the Korea Overnight Financing Rate (KOFR). Discussions addressed policy tasks for establishing KOFR as a benchmark rate, enhancing repo market stability, and the Bank of Korea's role in supporting the domestic money market through open market operations.
The Financial Action Task Force (FATF) has released Asset Recovery Guidance and Best Practices to enhance efforts in tracing, securing, confiscating, and returning criminal proceeds. The guidance supports implementing strengthened FATF Recommendations on asset recovery, addressing low global confiscation rates. It includes over 85 case examples and techniques, emphasizing asset recovery as a policy and operational priority.
NAMFISA released a draft standard for approving transfers, mergers, and reorganisations of collective investment schemes (CIS). It requires consent from holders of 51% in value of participatory interests and NAMFISA's approval, with exemptions under specific conditions. NAMFISA seeks stakeholder feedback within 30 days to finalize the standard.
The Bank for International Settlements Innovation Hub launched Project Nadim to develop a proof of concept for cross-border information sharing on fraud patterns, enhancing collaborative financial crime detection across jurisdictions.
The Central Bank of Argentina has introduced an online query tool for goods exporters, offering personalized access to information in the SECOEXPO system. Exporters can use their tax credentials on the ARCA website to check shipping permit statuses, including those certified, in breach, or nearing expiry. The tool allows customized queries and easy downloading of results based on the latest data from Customs and financial institutions.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned eight individuals and two entities for laundering proceeds from DPRK schemes, including cybercrime and IT worker fraud. The action updates the Specially Designated Nationals and Blocked Persons List, highlighting cryptocurrency activities linked to First Credit Bank. Property of designated persons in the U.S. is blocked, and U.S. persons are generally prohibited from transactions with them without authorization.
The Caribbean Financial Action Task Force's third enhanced follow-up report on Venezuela upgrades two technical compliance ratings but does not assess effectiveness. Venezuela moved to Largely Compliant on national AML/CFT coordination and to Partially Compliant on targeted financial sanctions related to terrorism, bringing it to 10 of 40 FATF Recommendations rated Compliant or Largely Compliant.
The National Bank of Denmark reported a DKK 3.1 billion decrease in the foreign-exchange reserve to DKK 675.5 billion in October 2025, due to net foreign exchange sales and government debt repayment. From January to October 2025, the reserve increased by DKK 21.0 billion, with significant foreign-exchange purchases and government borrowing. The central government's net financing requirement was DKK 74.8 billion in October, while banks' and mortgage-credit institutes' net position rose by DKK 74.3 billion, with policy rates unchanged since June 2025.
The Hong Kong Insurance Authority (IA) released a whitepaper on federated learning at Hong Kong FinTech Week, promoting cross-sector data collaboration while maintaining privacy. IA CEO Clement Cheung emphasized balancing regulation and innovation, highlighting initiatives like the Open API Framework and the Cyber Resilience Assessment Framework. Developed with ASTRI, the whitepaper outlines federated learning's role in training AI models on decentralized datasets.
The National Bank of Ukraine's October 2025 Business Outlook Survey shows a positive performance outlook despite wartime disruptions, with the business activity expectations index at 50.3. Trading and construction sectors are optimistic due to infrastructure spending and seasonal factors, while industrial and services sectors face challenges from facility destruction and labour shortages. Firms anticipate raising selling prices, with mixed labour market conditions across sectors.
The Angola Capital Markets Commission conducted a financial education session at Liceu No. 5106 in Viana, Luanda, focusing on the organization of the financial system and investment. Led by Adilson Calueio, the session aimed to enhance students' understanding of capital markets and promote financial literacy and research.
New Zealand's Council of Financial Regulators (CoFR) has accepted an independent review by Sapere as a catalyst for change, committing to redesign its operations with a new model incorporating selective engagement and taskforce elements, to be detailed in December. The review highlighted CoFR's strong foundation but noted a blurred focus and outdated structures.
The National Bank of Ukraine held an online meeting with business leaders to discuss its updated macroeconomic outlook, policy stance, and gather feedback. Inflation slowed to 11.9% in September, with projections of 9.2% in 2025 and 6.6% in 2026, while the key policy rate remains at 15.5% amid inflation risks. The bank plans to maintain regular meetings and encourages participation in its Monthly Business Outlook Surveys.
The Angola Capital Markets Commission and the Office of the Attorney General held their second technical workshop under a cooperation protocol, focusing on criminal liability and financial investigation. The event aimed to enhance coordination and knowledge-sharing between market supervision and financial crime investigations. Presentations covered corporate criminal liability, compliance, and investigation techniques in money laundering cases.
The Angola Capital Markets Commission, represented by Executive Administrator Edna Mascarenhas, participated in the launch of the BFAAM Emerging Income Fund in Luanda. Mascarenhas emphasized new products and partnerships in expanding investment opportunities and highlighted growth in the collective investment undertakings industry, with over 6,000 participants and AOA 1.4 billion in assets. She reaffirmed the Commission's commitment to a stable, transparent, and innovative regulatory environment to support capital market development.
New Zealand's Council of Financial Regulators (CoFR) will develop a new operating model incorporating elements from an independent review by Sapere, which highlighted CoFR's strong foundation but noted areas needing clearer focus and updated structures. Details on the new model will be released with CoFR's quarterly update in early December.
The Australian Securities & Investments Commission is consulting on remaking its legislative relief for providers of generic financial calculators, set to sunset on 1 April 2026. The proposal aims to preserve relief from certain Corporations Act licensing requirements while introducing minor amendments for consistency and simplification. The relief applies to calculators offering general numerical calculations about financial products, excluding superannuation.
The Reserve Bank of New Zealand's 2025 bank industry solvency stress test results show the five largest banks maintained capital ratios above minimum requirements despite severe scenarios involving geopolitical risks and a cyber-attack. Liquidity buffers were sufficient for stressed outflows, with the Reserve Bank’s overnight borrowing facility crucial in managing liquidity shocks.
The Ukraine National Commission on Securities and Stock Market approved a draft Procedure on Disclosure of Information on Managers’ Transactions, aligning with EU regulations. It mandates notification to issuers and the Commission when managerial transactions in shares or debt securities exceed UAH 200,000 annually. The Procedure outlines notification requirements, closed period rules, and applies to instruments on regulated markets or traded exclusively on BTM or OTM platforms.
Ukraine's National Commission on Securities and Stock Market plans to enhance ESG reporting by aligning state requirements and reducing business burdens. The initiative includes developing a unified ESG taxonomy, issuing guidance, resuming the Scorecard project, and enhancing business education on ESG. Despite over 11,000 issuers, only about two dozen companies have submitted substantial sustainability reports, highlighting the need for improved reporting quality and uptake.
The Dutch Authority for the Financial Markets issued its second update on the European Accessibility Act (EAA), urging financial firms to integrate accessibility into governance and operations. The update emphasizes the EAA's broad applicability, including consumer banking and financial e-commerce services, and highlights the need for a strategic approach. Firms must notify when they fail to meet EAA requirements or rely on exemptions, with another update anticipated in early 2026.
The Saudi Arabia Capital Markets Authority approved Arbah Capital Company's public offer of the Arbah Saudi Equity Fund. The CMA emphasized the importance of investors thoroughly reviewing the fund's terms, strategy, and risks, and consulting the fund manager if needed. The approval signifies compliance with legal requirements, not a subscription recommendation.
MONEYVAL conducted a week-long assessors training in Valletta, Malta, on sixth-round mutual assessment procedures and revised FATF Standards. Attended by 39 experts from 26 countries, the training aimed to enhance skills in evaluating technical compliance and effectiveness in anti-money laundering and counter-terrorism financing frameworks. Completion is necessary for experts to participate as evaluators in MONEYVAL and FATF assessments.
Indonesia's Financial System Stability Committee reported maintained financial stability in Q3 2025, with growth projected up to 5.2% for the year, supported by IDR 34.2 trillion in stimulus. Bank Indonesia implemented easing measures, including BI-Rate reductions and foreign exchange interventions, while the Financial Services Authority introduced regulations to enhance financing access for micro, small, and medium enterprises. The committee plans to finalize regulations under the Financial Sector Development and Strengthening Law by January 2026.
Indonesia's Financial Services Authority (OJK) inaugurated the International Islamic Finance Summit 2025 in Surabaya, emphasizing market deepening and sharia governance through the Sharia Finance Development Committee (KPKS). Priorities include product diversification, digitalization, and enhanced access for micro, small, and medium-sized enterprises. The summit also addressed regulatory alignment and policy directions across Islamic finance sectors.
Indonesia's Financial Services Authority (OJK) revoked PT Sarana Aceh Ventura's (PT SAV) business licence for not meeting the minimum equity requirement after a business freeze. The revocation, under OJK Regulation No. 35/POJK.05/2015 and No. 25/2023, prohibits PT SAV from conducting venture capital business and mandates settling obligations and legal compliance. PT SAV must hold a general meeting of shareholders within 30 days to decide on dissolution and establish a liquidation team.
The National Bank of Georgia highlighted Vice Governor Nino Jeladze's remarks on the renewed partnership between TBC Leasing and the Black Sea Trade and Development Bank, backed by a EUR 10 million credit line. This facility aims to finance equipment leasing for local micro, small, and medium-sized enterprises (MSMEs) to enhance innovation, sustainability, and competitiveness. Jeladze noted the renewal reflects confidence in Georgia's financial system and underscores the importance of long-term MSME financing for economic growth.
Governor Trajko Slaveski of the National Bank of the Republic of North Macedonia stressed the necessity of saving for sustainable growth and financial stability at a World Savings Day event. He noted household deposits reached MKD 427 billion in September 2025, highlighting increased denar-denominated and longer-term deposits as key to economic resilience. Slaveski urged regional economies to enhance domestic savings to boost growth potential and reduce reliance on external financing.
The Central Bank of Costa Rica has launched a mobile app, "Indicadores Económicos BCCR," providing real-time access to key economic indicators such as exchange rates, interest rates, and inflation. Available for free on Google Play and Apple's App Store, the app features dynamic visualizations that update automatically with changes in official databases.
The National Credit Union Administration plans to distribute over USD 3.4 million in Community Development Revolving Loan Fund grants to low-income designated credit unions. Credit unions should use a pre-recorded webinar for the 2025 application process and note recent security updates to the CyberGrants portal, including multi-factor authentication. Applicants must ensure an active System for Award Management registration, requiring annual renewal.
The People's Bank of China has renewed a bilateral local-currency swap agreement with the Bank of Korea, approved by the State Council, with a swap size of CNY 400 billion and KRW 70 trillion. The five-year agreement aims to enhance monetary and financial cooperation, facilitate bilateral trade, and maintain financial market stability.
The European Banking Authority has initiated a public consultation on draft Guidelines for authorising third-country branches under the Capital Requirements Directive. The Guidelines aim to harmonize market access and ensure consistent application across competent authorities, detailing application requirements and processes. They also require a non-opposition statement from the third-country competent authority to support the safe establishment of branches.
The European Banking Authority reports that as of December 2024, third-country subsidiaries held 9.8% of EU banking sector assets, with significant derivatives and loans activity. EU and EEA banks increased foreign currency exposures, mainly in US dollars. US and UK-controlled subsidiaries saw a market share decline, while China remained stable, and Japan and Switzerland increased. Unsecured wholesale and repo funding made up over 75% of foreign currency funding.
Norway's Department of Finance has directed the Financial Supervisory Authority of Norway to evaluate banks' deposit products and compliance with regulations. This review will address concerns about the variability and fairness of deposit interest rates and assess consumer protection adequacy within the current regulatory framework.
The Financial Industry Regulatory Authority (FINRA) fined First Trust Portfolios L.P. USD 10 million for excessive non-cash compensation and related misconduct in distributing its securities. Violations included exceeding Rule 2341 limits, falsifying expense records, and providing misleading reports to client firms. First Trust consented to FINRA's findings and will provide annual compliance certifications for three years.
The Bank of the Lao PDR and China UnionPay discussed enhancing Laos–China cross-border payments and modernizing Laos' payment systems. Key topics included improving payment connectivity, introducing modern technology, and exchanging oversight and risk management lessons. Both parties agreed to ongoing cooperation for future payment-system development.