-
2025-10-24•Mexico•CONDUSEF
Mexico's CONDUSEF launched the 18th National Financial Education Week to enhance household financial capabilities. The programme covers practical money management, responsible consumption, technology's role in inclusion, and gender-focused financial education. SNEF 2025 also offers a digital version with online conferences and workshops, extending access to Mexican communities abroad.
Financial literacy & educationFinancial literacy and education
-
2025-10-24•San Marino•Central Bank of San Marino
The Central Bank of San Marino has rejected a foreign group's bid to acquire a majority stake in Banca di San Marino, citing prudential and supervisory criteria. The decision does not affect Banca di San Marino's operations or its compliance with prudential and liquidity requirements. The Central Bank warned against spreading information that could harm the bank's stability, referencing Article 37 of Law 165/2005 (LISF).
SupervisionAuthorisations & approvalsSupervision process and methodologies
-
2025-10-24•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has implemented new security measures to protect data and prevent cyberattacks, aligning with federal and SUSEP-specific information security policies. These changes affect systems used by citizens, companies, and institutions in the insurance sector, potentially causing connection difficulties. SUSEP will continue enhancing its technological controls to ensure a reliable digital environment.
Institutional developmentTechnology & data transformationCyber resilience
-
2025-10-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed LLC Rumi Hotel to conduct foreign-currency operations for non-residents. The hotel can accept payments in foreign or national currency and must display daily exchange rates, but cannot engage in currency exchange activities.
SupervisionAuthorisations & approvalsLicensing framework and process
-
2025-10-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed Firdavsi Hotel to conduct foreign currency operations for non-residents on its premises. The hotel can accept foreign currency payments and the national currency without restrictions, but must display daily exchange rates. The licence excludes foreign currency exchange activities.
SupervisionAuthorisations & approvalsLicence approval
-
2025-10-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed Atlas Hotel LLC to conduct foreign currency operations for servicing non-residents. The hotel can accept both foreign and national currency for payments but cannot engage in currency exchange. An information board displaying daily exchange rates must be maintained at the cashier.
SupervisionAuthorisations & approvalsLicence approval
-
2025-10-24•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam updated its Alert List, adding eight unlicensed entities and individuals to caution the public against potential scams. The BDCB emphasized the importance of engaging only with licensed financial institutions and warned against unlicensed operators, particularly those resembling get-rich-quick or pyramid schemes. The central bank will continue monitoring suspicious financial activities in Brunei.
SupervisionAlertsOther
-
2025-10-24•Brazil•Brazilian Pension Funds Authority (PREVIC)
At the 46th Brazilian Congress of Private Pensions, the Brazilian Pension Funds Authority (PREVIC) stressed embedding ethical principles into pension fund conduct. PREVIC Standards Director Alcinei Rodrigues highlighted the need for democratic and ethical actions supported by a robust code and governance improvements. Adopting Abrapp’s Code of Conduct is seen as strategically beneficial, enhancing stakeholder confidence and engagement.
Policy & regulationGuidance & interpretationCorporate governance
-
2025-10-24•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines and the Philippine Deposit Insurance Corporation signed a revised Memorandum of Agreement to enhance coordination in bank examinations by delineating responsibilities and strengthening information sharing. The Central Bank will address credit, market, and operational risks, while the PDIC will focus on deposit-related risks. The agreement aims to prevent duplication and includes a data-sharing framework and joint examination activities.
Policy & regulationCooperationSupervision process and methodologies
-
2025-10-24•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines’ Monetary Board approved USD 1.10 billion in public sector foreign borrowings for Q3 2025, marking a 71.13% decrease from the previous year. These approvals included two loans for social protection projects. Total foreign borrowings for the first three quarters of 2025 reached USD 12.28 billion, with all proposals requiring prior approval to manage foreign debt levels.
SupervisionAuthorisations & approvalsBalance of payments and other external statistics
-
2025-10-24•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines highlighted Northern Mindanao as an emerging investment destination, with Monetary Board Member Rosalia V. De Leon noting its economic progress at the Philippine Economic Briefing. The region's GDP growth of 6.0% in 2024 surpassed the national average of 5.7%, indicating potential beyond traditional investment centers.
OtherMarket development
-
2025-10-24•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported a rise in domestic banks' won-denominated loan delinquency rate to 0.61% as of August 2025, up 0.04 percentage points from July. Business loan delinquency reached 0.73%, with small and medium-sized enterprise loans at 0.89%, while household loan delinquency increased to 0.45%. The data is preliminary and may be revised.
Data & statisticsSupervisory data
-
2025-10-24•Europe•European Central Bank
The European Central Bank's weekly financial statement shows a consolidated balance sheet total of EUR 6,195,379 million, an increase of EUR 3,014 million from the previous week. Key changes include a rise in lending to euro area credit institutions by EUR 2,964 million and a decline in securities held for monetary policy purposes by EUR 7,115 million. Liabilities related to monetary policy operations rose by EUR 4,248 million, while banknotes in circulation decreased by EUR 1,122 million.
Data & statisticsBalance of payments and other external statistics
-
2025-10-24•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC has issued a revised draft memorandum for public comment, proposing the adoption of Philippine Financial Reporting Standards S1 and S2 and sustainability reporting guidelines. It outlines phased mandatory disclosures from 2026, with tiered requirements based on market capitalization and revenue, including external assurance and transition reliefs. The circular would repeal SEC Memorandum Circular No. 4 (Series of 2019) and be supplemented by future SEC issuances.
Policy & regulationRules & requirementsClimate risk and sustainable finance
-
2025-10-24•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore released a consultation paper proposing measures to facilitate civil compensation for investors affected by market misconduct. Key proposals include appointing an independent "designated representative" to coordinate legal actions, establishing a grant scheme to support meritorious cases, and refining procedures for "piggyback" compensation claims. These changes aim to enhance investor protection while deterring frivolous litigation.
Policy & regulationRules & requirementsMarket abuse
-
2025-10-24•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore has released a consultation paper on proposed measures to enhance investor recourse in market misconduct cases. The consultation, part of MAS's supervisory framework, addresses legal and conduct aspects.
Policy & regulationRules & requirementsComplaints and dispute resolution
-
2025-10-24•Serbia•National Bank of Serbia
The National Bank of Serbia will participate in World Savings Week from 27 to 31 October, focusing on financial education activities for students and museum visitors. Events include workshops on budget planning and board game sessions on financial decision-making, along with educational visits to the Money Museum.
Financial literacy & educationFinancial literacy and education
-
2025-10-24•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance announced that General Inspector Jarosław Żółtowski met with the Authority for Anti-Money Laundering and Countering the Financing of Terrorism to enhance EU anti-money laundering cooperation. The meeting, part of AMLA's initial phase of building organizational structures, included discussions on Poland’s financial intelligence unit operations, FIU-to-FIU cooperation, and AMLA's work on technical standards for suspicious transaction reporting.
Policy & regulationCooperationAML and CFTDomestic cooperation
-
2025-10-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission and the Ministry of Finance announced that Chinese regulators have approved the listing of ETFs investing in Ibovespa ETFs on Shanghai and Shenzhen exchanges under the Brazil–China ETF Connect programme. This initiative allows reciprocal ETF listings between B3 and Chinese exchanges, with Chinese managers now listing ETFs linked to the Brazilian Ibovespa B3 index.
Policy & regulationCooperationSecurities offerings and listings
-
2025-10-24•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has rejected a proposed Termo de Compromisso settlement from XP Investimentos and two directors due to legal impediments and the seriousness of the alleged conduct. The inquiry involves potential breaches of CVM Resolution 35 related to securities lending and client interest prioritization. The investigation remains in the preliminary phase and may lead to an administrative sanctioning proceeding.
EnforcementInvestigations & enforcement actionsOther
-
2025-10-24•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission (GFSC) updated the UK sanctions list, amending details for five individuals and entities, including Aleksandr Aleksandrovich Shulgin and Alisher Usmanov. These parties remain subject to asset freeze and trust service sanctions under the Sanctions (Bailiwick of Guernsey) Law 2018. Businesses must freeze any funds or resources related to designated persons and report findings to the Policy & Resources Committee and GFSC.
Policy & regulationGuidance & interpretationSanctions list update
-
2025-10-24•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held an event for non-bank credit organisations to promote the State Register of Encumbrances of Movable Property. The session highlighted the Register's role in enhancing access to finance and financial inclusion, and its online functionalities for managing encumbrances. Participants also learned about the legal framework for movable asset-based financing and the central bank's electronic financial literacy resources.
Financial literacy & educationFinancial inclusion
-
2025-10-24•Namibia•Bank of Namibia
The Bank of Namibia joined the inaugural Namibia Public-Private Forum, advocating for coordinated efforts to address unemployment and create 500,000 sustainable jobs over five years. Governor Johannes !Gawaxab emphasized investment in productive sectors, enhanced business confidence, a supportive regulatory environment, and digital technology adoption. The newly launched Namibia Regulators Forum was highlighted to improve regulatory coordination and efficiency.
Policy & regulationCooperationEconomic data and developmentsDomestic cooperation
-
2025-10-24•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,148 reveals that wage disclosure in job adverts shifts applications towards higher-paying vacancies without affecting average applicant quality. Conducted in Addis Ababa, Ethiopia, the study found increased wage sensitivity, with higher-wage vacancies attracting more applicants. The paper suggests firms may withhold wage information to mitigate unproductive matches, as applicant quality measures showed minimal change.
ResearchOther
-
2025-10-24•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network, with Deutsche Gesellschaft für Internationale Zusammenarbeit, released a Practitioner’s Guide on promoting women's interests through sustainable finance in emerging markets. It features taxonomy development, bond guidelines, and case studies. This guide, part of a June 2025 Memorandum of Understanding, aims to support sustainable finance in emerging markets and developing countries.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
-
2025-10-24•Seychelles•Seychelles Financial Services Authority
The Financial Services Authority of Seychelles (FSA) issued a warning regarding the website https://admiralmarkets.live, which falsely claims FSA authorization and regulation. The FSA clarified that the entity is unknown to them, unlicensed, and unregulated. The public is advised to conduct thorough research before engaging with such entities, as the FSA will not be liable for any resulting issues.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
-
2025-10-24•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has released a draft memorandum for public comment, proposing the SEC Verification of Electronic Records and Information Trust and Authentication System (VERITAS), a blockchain-based platform for digitally signing and authenticating corporate reports. VERITAS will integrate with existing SEC systems, offering enhanced security through encryption and multi-factor authentication, and will initially be optional, with potential future mandates for specific filings.
Policy & regulationRules & requirementsBlockchain and distributed ledger technology
-
2025-10-24•Global•Sustainable Banking and Finance Network
The Sustainable Banking and Finance Network, with Deutsche Gesellschaft für Internationale Zusammenarbeit, released a Practitioner’s Guide to integrate women's interests into sustainable finance. It offers practical approaches for embedding social dimensions into policies and highlights practices like taxonomy development and bond guidelines, including case studies from various jurisdictions, developed under a Memorandum of Understanding signed in June 2025.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
-
2025-10-24•Russia•Central Bank of Russia
The Central Bank of Russia conducted the Eurasia 2025 international cross-border cyber drills with financial regulators and institutions from the Eurasian Economic Union and an observer country. Held at Innopolis University, the exercise simulated a cyber incident at a bank, focusing on infrastructure restoration and attacker identification. The Central Bank of Russia plans ongoing collaboration with EAEU regulators and other nations to address global cyber threats.
Policy & regulationImplementation, projects & pilotsCyber resilienceCross-border cooperation
-
2025-10-24•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses published an interview with Kalina Jarova Müller, General Manager of CCP Austria, emphasizing central clearing's growing importance, especially in the energy sector. Müller highlighted its role in enhancing transparency and stability during the recent energy crisis and advocated for a balanced regulatory environment fostering innovation and stability. She also discussed the need for further European integration and harmonisation of energy markets.
Other
-
2025-10-24•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission, with the Cyber Crime Investigation Bureau, raided Worldcoin (WLD) for allegedly operating an unlicensed digital asset business. The SEC cited potential violations of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) and reiterated the lack of legal protection for users of unlicensed services. The SEC will continue to monitor digital asset services and take legal action against violations.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
-
2025-10-24•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission revoked Ms. Sulalit Ardsawang's approval as a capital market auditor for six years due to serious non-compliance with auditing standards at Renaissance Fund Management Co., Ltd. This follows the revocation of Renaissance's licenses due to credibility issues and deficiencies in management and internal controls, including misstated financial statements and overstated liquid assets. Audit failures included neglecting to audit foreign bank deposits and securities trading accounts, leading to undetected material misstatements.
SupervisionAuthorisations & approvalsAuditing
-
2025-10-24•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association reported strong net inflows into long-term UCITS and higher overall net sales across UCITS and Alternative Investment Funds (AIFs) in August 2025, with combined net inflows reaching EUR 100 billion. Total net assets increased by 0.5% to EUR 24.2 trillion. UCITS recorded EUR 87 billion in net inflows, with significant contributions from ETF UCITS, equity UCITS, and bond UCITS.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-10-24•Canada•New Brunswick Financial & Consumer Services Commission
The Financial and Consumer Services Commission of New Brunswick is forming a technical working group to develop a defined contribution pension decumulation framework. The group will provide feedback on a discussion paper and assist in framework development, seeking experts in DC plan administration, investments, and member engagement. Participation is advisory, with meetings planned for fall 2025, and travel expenses reimbursed.
Policy & regulationImplementation, projects & pilots
-
2025-10-24•United Kingdom•HM Treasury
HM Treasury has launched a Scale-up Unit, led by the Financial Conduct Authority and Prudential Regulation Authority, to assist high-growth financial services firms with regulatory navigation. Initially targeting fast-growing deposit-takers and insurers, the unit will expand to include fintechs next year. A Sprint event is planned to address scaling barriers for innovative firms across the UK.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
-
2025-10-24•Canada•Payments Canada
Payments Canada has launched the Real-Time Rail (RTR) sandbox API environment for developers and vendors to test integrations before the RTR system's official launch. The sandbox offers a secure testing space with comprehensive documentation for real-time, irrevocable account-to-account transfers and 24/7/365 faster payments. RTR API specifications align with ISO 20022 standards to enhance remittance data, transparency, and global interoperability.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
-
2025-10-24•Canada•Payments Canada
Payments Canada proposed amendments to its Compliance By-law and Election of Directors Regulations, now open for public consultation. Key changes include an expedited investigation process for certain contraventions, an increase in the maximum penalty per contravention to CAD 1,000,000, and revised criteria for independent directors. The amendments aim to streamline compliance enforcement and adjust governance structures.
Policy & regulationRules & requirementsCompliance
-
2025-10-24•United States•Federal Reserve Board
The Federal Reserve Board has proposed enhancing transparency and accountability in its annual supervisory stress test, seeking comments on hypothetical scenarios for the 2026 test. Key elements include disclosing stress test models, adjusting the scenario design framework, and updating reporting forms to reduce burden and improve risk capture. The Board anticipates no significant changes to capital requirements for firms despite potential outcome variations based on scenario design.
Policy & regulationRules & requirementsStress testing
-
2025-10-24•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's reform priorities focus on expanding long-term savings, financial inclusion, and strengthening non-banking finance regulation. Key initiatives include introducing financial derivatives, market maker mechanisms, and securities borrowing for short selling, alongside regulating consumer finance and small enterprise financing. The authority emphasized modern legislation, governance, and technology controls to support product innovation and market stability.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-24•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority conducted a two-day training programme for journalists to enhance understanding of non-banking financial services, focusing on derivatives and market liquidity tools. Sessions covered financial derivatives, market makers, liquidity providers, and securities borrowing for short selling. The Authority plans to continue such initiatives to improve market transparency and efficiency.
Financial literacy & educationMarket development
-
2025-10-24•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets (CNPF) announced new provisions under Law No. 189/2025, effective 25 October 2025, enhancing financial consumer protection and expanding CNPF's supervisory powers. Key changes include stricter requirements for insurers and credit providers on transparency and consumer needs assessment, and extended CNPF oversight to savings and loan associations, debt-collection companies, and financial intermediaries. Providers must establish complaint-handling procedures, with CNPF authorized to conduct compliance checks.
Policy & regulationRules & requirementsConsumer and investor protection
-
2025-10-24•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has revised its proposals to modernize cross-industry governance prudential standards, focusing on a 12-year tenure limit for non-executive directors and dropping requirements for independent directors and early engagement on appointments. Updated standards and guidance will be open for further consultation in the first half of 2026.
Policy & regulationGuidance & interpretationCorporate governance
-
2025-10-24•Romania•National Bank of Romania
The National Bank of Romania has launched a new website section detailing the history and repatriation efforts of the "Treasury" evacuated to Moscow in 1916–1917. This section includes synthesis materials in Romanian and English, period images, and original documents, with French content planned. The bank, custodian of the "Treasury" file, describes the gold held in Russia as an unhonoured claim against the legal successor of the guarantor.
Other
-
2025-10-24•China•China Securities Regulatory Commission
The China Securities Regulatory Commission, chaired by Wu Qing, held a meeting to align its work programme with the Fourth Plenum of the 20th Communist Party of China Central Committee, focusing on risk prevention, supervision, and high-quality development. Key initiatives include reforms to the STAR Market and ChiNext, enhancing multi-tier equity markets, and strengthening enforcement against securities misconduct. The programme also emphasizes market opening, international cooperation, and supporting Hong Kong as a financial centre.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-24•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission, chaired by Li Yunze, emphasized risk prevention and strict supervision following the Communist Party of China’s 20th Central Committee Fourth Plenum. The meeting prioritized mechanisms to prevent systemic financial risks, enhance supervisory functions, and align regulatory work with the Fifteenth Five-Year Plan. Departments are tasked with translating the Plenum’s decisions into outcomes and preparing for the upcoming agenda.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-24•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has expanded rules for private offerings of negotiable securities under Article 82 of Capital Markets Law No. 26,831. The update increases the maximum number of potential investors from 35 to 50 and purchasers from 15 to 30, refining the September 2024 framework's "safe harbour" approach for private offerings.
Policy & regulationRules & requirementsSecurities offerings and listings
-
2025-10-24•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) attended the IOSCO Committee 4 meeting in Athens, focusing on investor protection and market supervision. Discussions included international cooperation, case studies, and reports from jurisdictions applying to IOSCO’s Multilateral Memorandum of Understanding (MMoU) and Enhanced MMoU (EMMoU). CNV highlighted efforts to modernize Argentina's capital markets regulatory framework, emphasizing investor protection and financial education.
Policy & regulationCooperationCross-border cooperation
-
2025-10-24•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission will not oppose Cuscal Limited's proposed acquisition of Indue Limited, determining the transaction unlikely to significantly reduce competition in payment facilitation services. The review highlighted that customers can source services from multiple suppliers, and market participants, including small and mutual banks, generally supported the deal due to anticipated efficiencies and investment.
SupervisionAuthorisations & approvalsMergers and acquisitions
-
2025-10-24•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission has issued a draft determination proposing to authorise the Australian Banking Association and others to coordinate actions to ensure cash distribution across Australia, with conditions including initiatives to protect access in remote areas. The draft excludes pricing mechanisms between Armaguard and major customers, with submissions due by 14 November 2025.
SupervisionAuthorisations & approvalsCurrency and cash management
-
2025-10-24•Vietnam•State Bank of Vietnam
At a government conference, State Bank of Vietnam Governor Nguyen Thi Hong emphasized a demand-led approach to social housing, focusing on low-income rental needs and flexible interest-rate subsidies. She highlighted streamlining administrative processes to reduce financing costs and improve credit access, advocating for diversified long-term funding beyond commercial bank credit. A draft resolution proposes directing commercial banks' participation in an expanded VND 145 trillion credit program, with support from the Vietnam Bank for Social Policies and potential government-backed bond issuance.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-24•Vietnam•State Bank of Vietnam
State Bank of Vietnam Governor Nguyen Thi Hong attended a government conference on enhancing social housing, chaired by Prime Minister Pham Minh Chinh. The draft resolution aims to streamline procedures, decentralize authority, and improve post-audit controls, focusing on cutting procedures by 50% and prioritizing social housing projects. Financing will involve diverse sources, and progress on the 2021–2030 plan for one million units was reviewed, with over 50,000 units completed in 2025.
Policy & regulationRules & requirementsOther
-
2025-10-24•Global•Financial Action Task Force
The Financial Action Task Force (FATF) concluded its October 2025 Plenary by adopting mutual evaluation reports for Belgium and Malaysia, marking the first assessments under a new risk-based approach. Burkina Faso, Mozambique, Nigeria, and South Africa were removed from increased monitoring after completing action plans. The Plenary also approved new guidance on asset recovery and a Horizon Scan on illicit finance risks related to AI and deepfakes.
Policy & regulationInternational standards & recommendationsAML and CFTSupervision process and methodologies
-
2025-10-24•Global•Financial Action Task Force
The Financial Action Task Force (FATF) updated its "grey list," removing Burkina Faso, Mozambique, Nigeria, and South Africa, while 20 jurisdictions remain under increased monitoring for AML/CFT/PF deficiencies. FATF emphasized a risk-based approach, discouraging de-risking and highlighting humanitarian exemptions under UN Security Council Resolution 2761 (2024). Concerns were raised about Venezuela's oversight of the non-profit sector, urging a review of its November 2024 NPO law.
Policy & regulationInternational standards & recommendationsAML and CFT
-
2025-10-24•Global•Financial Action Task Force
The Financial Action Task Force (FATF) updated its statement on high-risk jurisdictions, urging enhanced due diligence and countermeasures against money laundering and financing risks. The Democratic People’s Republic of Korea (DPRK) and Iran remain under countermeasures, with DPRK facing increased scrutiny due to heightened proliferation financing risks. Myanmar is subject to enhanced due diligence, with potential countermeasures if progress stalls by February 2026.
Policy & regulationInternational standards & recommendations
-
2025-10-24•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate at 6.00% on 24 October, citing stronger-than-expected economic activity, contained headline and core inflation, inflation expectations in line with target, and lower exchange-rate pressures. It said 2025 gross domestic product growth was revised up to 5.3%, annual inflation stood at 4.3% in September, and inflation is projected at 4.0% at end-2025 before converging to the 3.5% target in 2026.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
-
2025-10-24•Moldova•National Bank of Moldova
The National Bank of Moldova, in collaboration with the Independent Analytical Centre Expert-Grup, awarded certificates and prizes to winners of its Financial Education Camp quiz. Governor Anca Dragu emphasized the importance of financial education in adapting to a changing financial landscape. Over 400 young participants engaged in the camp, which aimed to enhance critical thinking in financial decision-making.
Financial literacy & educationFinancial literacy and education
-
2025-10-24•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago’s Ministry of Finance outlined measures to enhance pension systems and capital markets at the Stock Exchange Capital Markets Conference 2025. Initiatives include parametric changes to the National Insurance Fund, a state-sponsored real estate investment trust, and a $1 billion National Investment Fund Bond. Additional plans involve tax incentives for SMEs, a National Innovation and Incubator Programme, and digitisation of government bond issuance.
Policy & regulationReform agendas & prioritiesMarket development
-
2025-10-24•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank conducted a training session for commercial banks in the Eastern Caribbean Currency Union on Swift ISO 20022 and Cross-Border Payments and Reporting Plus. The training, held in Saint Christopher (St Kitts) and Nevis, focused on preparing banks for Swift’s November 2025 migration deadline. ISO 20022 aims to enhance operational efficiency, fraud detection, and payment transparency.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
-
2025-10-23•Global•Financial Markets Standards Board
The Financial Markets Standards Board (FMSB) marked the 10th anniversary of the Fair and Effective Markets Review and its establishment with an event featuring FCA Chair Ashley Alder and Bank of England Governor Andrew Bailey. Discussions covered FMSB's contributions to market conduct, emerging risks, and evolving market structure, with insights from FMSB Chair Jonathan Moulds and a video address by Reserve Bank of Australia Deputy Governor Andrew Hauser.
OtherMarket development
-
2025-10-23•Colombia•Superintendencia Financiera de Colombia
During World Investor Week, the Financial Superintendence of Colombia stressed financial education and AI as vital for consumer and investor protection. Edgar Saad Mor highlighted the need for supervision to foster technological innovation in financial markets. The authority also advocated for improved post-trade infrastructure in e-trading systems and forming public-private working groups to advance Colombia's capital markets.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechFinancial literacy and education
-
2025-10-23•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported continued growth in commercial bank assets, lending, and customer deposits for September 2025. Assets reached EUR 9.14 billion, gross loans rose to EUR 6.45 billion, and deposits increased to EUR 7.34 billion. The interest rate margin was 3.61%, with a loan-to-deposit ratio of 87.88%.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-10-23•Italy•Bank of Italy
The Bank of Italy issued Recommendations for financial institutions on conducting self-assessments of money laundering and terrorist financing risks, following a thematic review. The guidance aims to promote good practices and enhance vulnerability identification and mitigation. It emphasizes the importance of organization, methodology, tools, and group-level internal controls in the self-assessment process.
Policy & regulationGuidance & interpretationAML and CFT
-
2025-10-23•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo, with the German Foundation for International Cooperation Sparkassenstiftung and the Kosovo Banking Association, launched the "Stock Market Learning Competition Game" to give students and young professionals practical exposure to capital markets via the Stuttgart Virtual Stock Exchange. This initiative supports the central bank's strategic priorities on financial education, access to finance, and financial inclusion, and aims to develop Kosovo's capital markets in line with EU regulations. Prizes will be awarded to the top three teams.
Financial literacy & educationFinancial literacy and education
-
2025-10-23•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has ordered the blocking of 17 additional websites for providing unauthorised investment and crypto-asset services to Italian investors. This action, under Italy’s “Growth Decree” and MiCAR regulations, increases the total number of blocked sites to 1,460 since July 2019. Consob emphasized investor due diligence and referred to its “Watch out for scams!” section for guidance.
EnforcementInvestigations & enforcement actionsFraud and scams
-
2025-10-23•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) warned against North Star Management Japan and Part Capital, identifying them as unauthorized 'boiler rooms'. The FSMA advised against engaging with these firms, urging verification of provider identity and authorization through FSMA resources. It also cautioned against cold calls, disproportionate return promises, and transferring funds to unrelated jurisdictions.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
-
2025-10-23•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Onward Medical’s financial instruments on Euronext Brussels at the company's request. This action, under Article 78 of the Law of 21 November 2017, is effective from 23 October 2025 at 09:00 CET until a press release is issued.
SupervisionInterventionsTrading
-
2025-10-23•Italy•Bank of Italy
The Bank of Italy released Legal Research No. 106, titled "Pandectae. Digest of the case-law on the Banking Union," covering the period from January to June 2024.
ResearchOther
-
2025-10-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has banned Melbourne-based financial adviser Jovan Videkanic for seven years for inappropriate advice and misleading statements. Videkanic advised clients to invest in self-managed superannuation funds and the Global Capital Property Fund, and later in the Shield Master Fund, with false claims about returns. ASIC advises MWL Financial Services Pty Ltd clients to lodge complaints with the Australian Financial Complaints Authority by 25 August 2026, and UGC clients by 31 March 2026.
EnforcementInvestigations & enforcement actions
-
2025-10-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) cancelled Wealth Trail Pty Ltd's financial services licence after the Compensation Scheme of Last Resort paid AUD 150,000 for an unpaid Australian Financial Complaints Authority determination. ASIC must cancel a licence when a licensee fails to pay an AFCA determination and the CSLR compensates, with no discretion or merits review. Since the CSLR's inception, ASIC has cancelled ten AFS licences and four credit licences.
SupervisionAuthorisations & approvalsLicence withdrawal
-
2025-10-23•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market and other public bodies approved amendments to the roadmap for the National Strategy for the Development of Financial Literacy until 2030. The revisions adjust timelines, expand tasks, and reallocate responsibilities due to resource constraints and implementation experiences. Key changes include new educational initiatives under strategic goal No. 1, focusing on quality basic financial education.
Policy & regulationReform agendas & prioritiesFinancial literacy and education
-
2025-10-23•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank hosted a delegation from the Hong Kong Monetary Authority’s Academy of Finance as part of the 2025 Financial Leaders Program, focusing on financial-sector leadership development. The visit included discussions on mutual interests, presentations on the economy, fintech, and financial innovation, and concluded with a tour of Fintech Saudi’s headquarters.
Institutional developmentCooperation & capacity buildingFintech and insurtech
-
2025-10-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia’s Capital Markets Authority approved Sadara Capital’s public offer of the Sadara Liquidity Fund, confirming compliance with the Capital Market Law and its Implementing Regulations. The CMA warned that investing without reviewing the fund’s terms and conditions may involve high risk and stressed that its approval is not a subscription recommendation. Investors should examine the fund documentation and consult the fund manager for clarity on any provisions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
-
2025-10-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Sadara Capital's public offer of the Sadara Freestyle Saudi Equity Fund, confirming compliance with the Capital Market Law and its Implementing Regulations. The CMA emphasized that this approval is not a subscription recommendation and advised investors to thoroughly review the fund's terms and conditions, assess its strategy and risk factors, and consult the fund manager if needed.
SupervisionAuthorisations & approvalsSecurities offerings and listings
-
2025-10-23•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Tam Capital’s public offer of the TAM Freestyle Saudi Equity Fund. The CMA emphasized that the approval is not an investment recommendation and urged investors to thoroughly review the fund's terms and conditions, highlighting the potential risks involved.
SupervisionAuthorisations & approvalsSecurities offerings and listings
-
2025-10-23•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's ACAPS, INPPLC, and FMA signed a cooperation agreement to enhance integrity and transparency in the insurance sector. The agreement includes training, awareness campaigns, and risk mapping to address corruption risks. A study by INPPLC and UNODC identified key corruption vulnerabilities, urging improved monitoring and vigilance systems.
Policy & regulationCooperationBribery and corruption
-
2025-10-23•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendency of Banks conducted a technical knowledge exam for 266 applicants to appoint customer ombudsmen nationwide. The assessment covered key financial and administrative codes and resolutions, with candidates required to pass an interview stage. The process aims to fill 24 posts, with roles assigned based on scores before final appointments.
Institutional developmentWorkforce & recruitmentLicence approval
-
2025-10-23•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) emphasized financing institutions' role in supporting the real economy and MSMEs during its OJK Mengajar session at Universitas Islam Kadiri. OJK reported 30% of financing portfolios are directed to MSMEs, with total industry assets at IDR 1,046.94 trillion as of August 2025. A development roadmap has been prepared to guide policy, support transformation, and enhance digital readiness in the financing sector.
Financial literacy & educationFinancial literacy and education
-
2025-10-23•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) and the Ministry of Finance convened the Indonesia Pension Fund Summit 2025 to strengthen the pension fund industry and reform the retirement system towards inclusivity, digitalisation, and sustainability. OJK reported pension fund assets of IDR 1,593.18 trillion as of August 2025, with 29.09 million participants. The summit addressed national pension system reform, digitalisation, and the role of pension funds in sustainable finance, highlighting challenges like demographic shifts and low participation.
Policy & regulationReform agendas & priorities
-
2025-10-23•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) has issued a new regulation to refine its rule-drafting process, changing OJK Circular Letters (SEOJK) to Member of the Board of Commissioners Regulations (PADK). PADK will mirror OJK Regulations (POJK), with general provisions in the main body and technical details in annexes. Existing SEOJK will remain effective and be interpreted as PADK until amended or updated.
Policy & regulationRules & requirementsRegulatory burden
-
2025-10-23•Georgia•National Bank of Georgia
The National Bank of Georgia’s Governor, Natia Turnava, highlighted Georgia's financial sector's growing appeal to investors at the Tbilisi Finance Summit, citing strong economic growth and low inflation. She emphasized the banking system's resilience and profitability, with high-quality assets and significant foreign direct investment. The Summit is part of the Silk Road Forum, co-organized by the Global Finance and Technology Network.
OtherMarket development
-
2025-10-23•Georgia•National Bank of Georgia
The National Bank of Georgia shared Governor Natia Turnava's remarks at the inaugural Tbilisi Finance Summit, part of the Silk Road Forum. The summit, attended by senior Georgian officials and international financial leaders, aims to enhance Georgia's role as a financial hub connecting Europe and Asia. Turnava highlighted Georgia's participation in the Global Finance and Technology Network.
OtherFintech and insurtechMarket development
-
2025-10-23•China•Central Bank of the Republic of China
The People's Bank of China, with the China Securities Regulatory Commission, confirmed the 2024 Fintech Development Awards, recognizing 290 projects to incentivize financial-sector innovation. The awards aim to enhance fintech investment, secure digital infrastructure, and improve financial services through technology. The meeting emphasized optimizing award categories and assessment mechanisms to align with financial and technology integration.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
-
2025-10-23•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's quarterly Bank Funding Survey shows increased volumes and costs of client deposits in Q3, with expectations of continued inflows and stable funding costs next quarter. Growth was noted in household and corporate deposits, while wholesale funding rose for the second consecutive quarter. The survey also highlighted a decline in foreign-currency funding and an increase in funding maturities, with profitability driving higher total capital expectations.
Data & statisticsFinancial and market indicators
-
2025-10-23•Portugal•Bank of Portugal
The Bank of Portugal reported a EUR 3.2bn increase in non-financial sector indebtedness for August 2025, totaling EUR 857.0bn, with data revisions back to March 2022. Public sector debt rose by EUR 2.4bn, driven by increased liabilities to the general government, while private sector debt increased by EUR 0.7bn, with household debt reaching a new series high. Private corporate debt grew 2.5% annually, and household debt rose 7.4%.
Data & statisticsBalance of payments and other external statistics
-
2025-10-23•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) announced that its President, Gabriel Bernardino, addressed the 6th annual ECOseguros conference in Lisbon. He emphasized the insurance sector's role in transforming uncertainty into security amid rising climate, digital, demographic, and geopolitical risks, thereby supporting economic and social resilience.
SupervisionOtherClimate risk and sustainable finance
-
2025-10-23•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia highlighted investment alternatives beyond traditional accounts, emphasizing collective investment funds by fiduciary companies. Deputy Superintendent César Reyes Acevedo noted these funds offer varied returns aligned with investors' risk profiles. Asofiduciarias’ finance director Darwin Martínez elaborated on fiduciary companies' operations and offerings.
Policy & regulationGuidance & interpretationOther
-
2025-10-23•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia emphasized strengthening the culture of saving and investment through better financial education during World Investor Week. SFC adviser Juan Camilo Guerrero cited low saving rates and cash reliance, attributing these to distrust in the banking system and limited financial education. Improving financial education is crucial for fostering long-term saving habits and supporting economic growth.
Financial literacy & educationFinancial literacy and education
-
2025-10-23•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) and the Stock Exchange of Hong Kong Limited disciplined Mr Lu Qingxing and Mr Lyu Zhufeng, former directors of Universal Star (Holdings) Limited, for failing to disclose material information in the IPO prospectus. The SFC's investigation revealed non-disclosure of 13 loans totaling RMB49 million, significant funds paid to Mr Lu, and improper pledging of a subsidiary property post-IPO. The Exchange issued a Prejudice to Investors’ Interests Statement and a censure.
EnforcementInvestigations & enforcement actionsCorporate governance
-
2025-10-23•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia has joined the Network for Greening the Financial System (NGFS), aligning with over 149 central banks and financial regulators to enhance sustainable finance and climate risk management. This membership aims to integrate climate and environmental considerations into financial supervision, monetary policy, and risk management. Headquartered at the Banque de France, the NGFS has guided financial systems towards sustainability since 2017.
Policy & regulationCooperationClimate risk and sustainable finance
-
2025-10-23•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) issued an operational notice about the Canada Post service disruption, advising regulated entities to ensure fair consumer treatment and meet statutory communication obligations. With Canada Post facing rotating disruptions, FSRA expects firms to use alternative delivery methods for time-sensitive correspondence. FSRA has also adjusted its processes and will use alternative communication methods during this period.
Policy & regulationGuidance & interpretationOperational risk and resilience
-
2025-10-23•Sweden•Riksbank
Sweden's Riksbank published an Economic Commentary analyzing the potential spillover effects of a gradual tightening of US fiscal policy on Sweden. The analysis, using the Riksbank’s MAJA model, suggests Swedish GDP could be nearly 0.4% lower after 12 quarters, with impacts transmitted through trade and financial markets. The study indicates Sweden may be more affected than the EU due to its high degree of openness.
Research
-
2025-10-23•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency summarized a Frankfurt expert meeting on sustainability risks and climate scenarios in the own risk and solvency assessment (ORSA), highlighting uneven practices among insurers and constraints faced by smaller firms. Climate change impacts, including physical risks and regulatory requirements, were discussed, with ORSA identified as crucial for resilience assessment. The meeting emphasized the need for a harmonized EU approach and improved data availability, with EIOPA's role potentially expanding to support alignment.
SupervisionCooperationClimate risk and sustainable finance
-
2025-10-23•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has issued a consultation paper proposing revisions to simplify and enhance transparency in the internal ratings-based (IRB) accreditation process. The aim is to make IRB access more feasible for medium-sized banks while upholding existing prudential standards. Currently, only six major banks are accredited for IRB use, which can reduce capital requirements but demands significant risk management resources. Medium-sized banks believe IRB access could improve their competitive stance, especially in home lending.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-10-23•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) supports the Stiftung für Wirtschaftsbildung’s initiative to integrate economic competence into school curricula, involving 50 school principals. Since 2022, the School Pilot on Economic Education has aided 59 lower secondary schools, benefiting over 8,500 students. A new certificate for economic, financial, and consumer education is being developed with the education and finance ministries, focusing on lower secondary education.
Financial literacy & educationFinancial literacy and education
-
2025-10-23•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendence of Banking, Insurance and Private Pension Funds (SBS) will conduct the sixth Anti-Money Laundering Prevention Week from 27 to 31 October 2025, supported by the Swiss State Secretariat for Economic Affairs. The virtual programme includes over 20 conferences on organised crime's use of new technologies and laundering risks linked to illegal activities, with participation certificates available. Preliminary in-person sessions are being held in Puno and Madre de Dios from 20 to 24 October for various stakeholders.
Financial literacy & educationAML and CFT
-
2025-10-23•France•Bank of France
The Bank of France's 2025 report from the Observatoire du financement des entreprises indicates that business financing is generally assured, though economic uncertainty necessitates increased vigilance and support evolution. The report notes resilience among very small enterprises and SMEs, uneven conditions across segments, and highlights venture capital ecosystem development and structural challenges in firm size and succession. Chaired by France’s National Credit Mediator, the Observatoire reflects consensus among diverse member institutions.
ResearchSME financing
-
2025-10-23•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) announced decisions in 11 administrative infraction proceedings for Q3 2025 and released the corresponding quarterly benchmarks on administrative infractions.
EnforcementInvestigations & enforcement actionsOther
-
2025-10-23•Global•Ceres
Ceres filed an amicus curiae brief in the US Court of Appeals for the Ninth Circuit supporting California's climate disclosure laws, which are challenged by the US Chamber of Commerce and other trade associations. The brief highlights widespread support from businesses and investors for standardized climate disclosures under SB 253 and SB 261, requiring large companies to disclose emissions and climate-related financial risks.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
-
2025-10-23•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria assessed the impact of US Treasury OFAC sanctions on Rosneft and Lukoil, finding no direct credit risk to Bulgaria's banking system. It noted that affected entities are significant economic actors and that banks must manage relationships within legal frameworks, considering potential secondary sanctions. Coordination with the Ministry of Finance and ongoing monitoring will continue.
SupervisionRisk monitoring & watch pointsNew sanctions designations
-
2025-10-23•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released the October 2025 AML Focus newsletter detailing ongoing AML/CFT/CFP supervision efforts. Key topics include the MONEYVAL process, beneficial ownership threshold changes, and data-driven regulation initiatives. The newsletter also features guidance on Commercially Exposed Persons and updates on the National Risk Assessment.
SupervisionSupervision approach, priorities & toolkitSupervisory data