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2025-08-15•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission reported continued balance-sheet growth and stable credit quality in the banking and insurance sectors for Q2 and H1 2025. Total banking-sector assets reached CNY 467.3tn, with large commercial banks holding a 43.7% share. Insurance companies' assets rose to CNY 39.2tn, while commercial banks maintained a non-performing loan ratio of 1.49% and a capital adequacy ratio of 15.58%.
Data & statisticsAsset qualityPrudential risks
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2025-08-15•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force said it participated in AML/CFT/CPF training for judges and magistrates from the Eastern Caribbean Supreme Court member countries. Its presentation focused on the fifth round mutual evaluation cycle, FATF methodology changes and the judiciary’s role in sanctions, international cooperation and asset recovery. The sessions also examined weaknesses identified in mutual evaluations and newer asset recovery requirements.
Policy & regulationCooperationAML and CFTSupervision process and methodologies
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2025-08-15•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan released its July 2025 overview of renminbi (RMB) business, noting 65 domestic and 56 offshore banking units engaged in RMB activities. As of end-June 2025, RMB deposits increased to RMB 124.34 billion, while remittances decreased to RMB 148.93 billion. The Taipei Branch of the Bank of China processed RMB 445 billion in settlements for July 2025.
Data & statisticsFinancial and market indicators
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2025-08-14•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission and Luanda-Bengo Special Economic Zone held a workshop to enhance corporate financing understanding through capital markets. Part of the Capital Markets Development Programme, it featured insights from specialists and aimed to improve financial literacy and transparency among Special Economic Zone businesses. The Commission is committed to ongoing training to support Angola's capital market development.
Financial literacy & educationFinancial literacy and education
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2025-08-14•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN), Ministry of Public Administration (MAP), and General Directorate of Pensions and Retirements (DGJP) issued a resolution standardizing public sector pre-pension payroll processes. It mandates minimum requirements, a unified administrative flow, and documentation for pension applications, with HR departments maintaining service-time records and implementing IT alerts. Pension processing begins only upon filing required documents, and conditions for automatic retirement under Law No. 379-81 are outlined.
Policy & regulationRules & requirementsOther
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2025-08-14•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia shared remarks by Juanita Villaveces at Asobancaria’s Capital Markets Symposium, highlighting challenges in deepening Colombia's capital market. Villaveces identified limited market depth and a cultural preference for credit over securities as key obstacles. The panel also discussed regional stock exchange integration with industry experts.
OtherMarket development
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2025-08-14•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) warned about "recovery room fraud," where scammers target investment fraud victims by offering to recover losses for additional payments or account access. Suspected operators include Cyber Justice, GL Markets, and Money Recovery, using tactics like demanding upfront fees and requesting remote desktop access. The FSMA advised victims to report to local police and treat unsolicited recovery offers and requests for fees or computer access as red flags.
SupervisionAlertsFraud and scams
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2025-08-14•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a case to the Attorney General concerning a company's non-compliance with a Disciplinary Board decision under Article 127 of Law No. 7 of 2010. The company, listed on Boursa Kuwait, failed to pay a fine as required by Resolution No. 09/2025, despite being legally notified on 24 June 2025.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2025-08-14•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has reported an alleged criminal offence to the Attorney General involving unlicensed investment advisory services. The conduct is linked to Article (63) and criminalised under Article (126) of Law No. 7 of 2010.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityWhistleblowing
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2025-08-14•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has initiated Federal Court proceedings against Mercer Super for allegedly failing to comply with the reportable situations regime from October 2021 to September 2024. ASIC claims Mercer Super did not promptly report significant breaches, including seven unreported investigations and one delayed by over a year. Issues involved incorrect insurance premium refunds, uncreated member accounts with default insurance, and delays in processing member information updates. Additionally, ASIC alleges Mercer Super provided false or misleading reports understating affected members.
EnforcementInvestigations & enforcement actionsOther
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2025-08-14•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission issued a draft determination proposing to authorize Australian Payments Network Limited and members of the Issuers and Acquirers Community to coordinate migrating the Australian card payments system from Triple Data Encryption Standard to Advanced Encryption Standard, including limited information sharing. Submissions on the draft determination are due by 29 August 2025, after which a final decision will be made.
SupervisionAuthorisations & approvalsPayments and payment systems
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2025-08-14•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Statistical Bulletin for July 2025, offering updated economic statistics for Cyprus. The bulletin, issued quarterly, encompasses monthly, quarterly, and annual data on various economic aspects.
Data & statisticsEconomic data and developmentsFinancial and market indicators
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2025-08-14•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released June 2025 investment fund statistics, noting a rise in the number of funds to 343 and a 0.5% increase in total assets to EUR 7,577.9 million. This data is part of the August 2025 Investment Fund Statistics publication.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-14•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendency of Banks and the Global Green Growth Institute signed a memorandum to enhance cooperation on sustainable finance. The agreement aims to integrate environmental, social, and climate criteria into Ecuadorian financial regulation and facilitate experience exchange on international standards. It also seeks to form strategic alliances with regulators in Latin America and beyond to improve environmental and climate risk management.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-08-14•Ireland•Central Bank of Ireland
The Central Bank of Ireland has revised its regulatory lending framework for credit unions, expanding house and business lending capacities. The new framework sets concentration limits at 30% for house lending and 15% for business lending, effective 30 September 2025, increasing total sector lending capacity from EUR 2.9bn to EUR 9.9bn. Credit unions are expected to adopt these changes prudently, enhancing skills and risk management.
Policy & regulationRules & requirementsLending
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2025-08-14•Italy•Bank of Italy
The Bank of Italy released updated Financial Market statistics for June–July 2025 in its report titled "The Financial Market – June-July 2025."
Data & statisticsFinancial and market indicators
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2025-08-14•Italy•Bank of Italy
The Bank of Italy released updated statistics on public finances, detailing the borrowing requirement and debt as of June 2025.
Data & statisticsEconomic data and developments
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2025-08-14•Indonesia•OJK
Indonesia's Financial Services Authority, with the Ministry of Finance, Bank Indonesia, and the Indonesia Deposit Insurance Corporation, launched the LIKE IT 2025 programme to enhance financial literacy among scouts with special needs. Aligned with the 2025 National Special Needs Scout Camp, it promotes financial independence through saving and investment education, highlighting financial literacy and inclusion rates, and supporting equal access to financial services for persons with disabilities.
Financial literacy & educationFinancial literacy and education
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2025-08-14•Algeria•Algeria Market Authority (COSOB)
Algeria Market Authority said Moustachir Spa has published its first half 2025 financial statements. The release includes semestrial accounting statements and a press release.
SupervisionRegulatory reportingAccounting and financial reporting
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2025-08-14•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority will hold case-based workshops on money laundering and terrorist financing with Danish authorities and professional bodies in October and November 2025. These sessions will focus on three new cases reflecting current trends and will be held in Danish. Entities with reporting obligations under Denmark’s Anti-Money Laundering Act are encouraged to express interest by 10 September 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-08-14•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority issued a warning about spoofed emails from the domain @bma-bm.com, used to misdirect payments intended for the Authority. These emails targeted a regulated entity, diverting funds to an unrelated account under "BMA Gulf" with false instructions. The Authority emphasized that official communications use the @bma.bm domain and advised caution against fraudulent requests.
SupervisionAlertsFraud and scams
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2025-08-14•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority issued a five-year prohibition order against Mr. Martin Pitonák, barring him from roles in any investment fund under the Investment Funds Act 2006. This follows findings of his lack of probity and competence as a director of Stonebridge Capital Hedge Fund Limited, which was ordered to be wound up. Pitonák did not appeal the decision, and the order has been published to inform the public.
EnforcementInvestigations & enforcement actionsFitness and propriety
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2025-08-14•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has updated its Financial Difficulty External Dispute Resolution Response Guide, clarifying expectations for financial firms in handling hardship complaints by detailing documentation, decision explanations, and compliance with regulatory obligations. The guide incorporates the National Credit Code, industry Codes of Practice, and AFCA’s fairness principles, with added guidance on customer vulnerability and a comprehensive list of supporting information.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-08-14•Ghana•Securities and Exchange Commission Ghana
The Securities and Exchange Commission Ghana has issued the Securities Industry (Underwriter) Guidelines 2025, establishing a licensing and operational framework for underwriting securities. The guidelines apply to broker-dealers, issuing houses, and licensed underwriters, mandating compliance with capital requirements and disclosure obligations. Breaches may result in penalties under the Securities Industry Act.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-14•Gibraltar•Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission released three guidance notes to clarify Solvency II group supervision and capital add-ons for insurers and stakeholders. The notes address Solvency II capital add-ons, group supervision, and the GFSC's insurance group supervision approach.
Policy & regulationGuidance & interpretationCapital adequacySupervision process and methodologies
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2025-08-14•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint statement on market volatility linked to the "stablecoin concept," cautioning investors against speculative decisions. The HKMA emphasized a rigorous approach to stablecoin issuer licensing, noting limited initial licences and ongoing market engagement. The SFC will monitor trading closely and act against manipulative practices.
SupervisionAlertsMarket risk and volatility
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2025-08-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the Exchange Fund’s analytical accounts for July 2025, noting a HKD 56.4 billion decrease in foreign assets to HKD 3,539.8 billion. The Monetary Base was reported at HKD 2,042.6 billion, with claims on the private sector at HKD 317.6 billion and foreign liabilities at HKD 32.6 billion. The HKMA confirmed its schedule for four monthly Exchange Fund data releases, including those under the IMF’s Special Data Dissemination Standard.
Data & statisticsMonetary data
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2025-08-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and the Securities and Futures Commission warned about market movements linked to "stablecoin" speculation and licensing claims in Hong Kong. They stressed that stablecoin issuer licensing will undergo rigorous assessment and urged investors to avoid decisions based on hype. The Securities and Futures Commission will monitor trading closely and act against manipulative practices.
SupervisionAlertsMarket risk and volatility
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2025-08-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding a fraudulent mobile application involving Bank of Singapore Limited. It reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals are advised to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-08-14•Global•Bank for International Settlements
The Bank for International Settlements published research on high-frequency trading's impact on firms' cost of equity, using exchange speed upgrades as quasi-natural experiments. The study finds HFT can increase the cost of capital for low-beta, illiquid stocks by raising market risk sensitivity, while reducing it for the most liquid stocks through a lower liquidity premium. Similar patterns were observed in both the fragmented U.S. and unfragmented Hong Kong markets, highlighting HFT's concentrated effects across different equity segments.
ResearchTradingMarket development
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2025-08-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has relaxed motor insurance conditions in disaster zones due to storms, allowing premium deferrals for up to 180 days for contracts between 20 July 2025 and 31 December 2025. This applies to all motor insurance types except private passenger cars in groups 1 and 2. Insurers must issue a policy endorsement setting the payment deadline, and coverage remains active during the deferral period, but non-payment by the deadline results in policy termination.
Policy & regulationRules & requirementsOther
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2025-08-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has initiated a public hearing on a draft AI Governance Guideline for insurance companies, outlining supervisory expectations for AI use. The guideline emphasizes governance, security, transparency, and fairness, using a risk-based proportionality approach tailored to firms' business models and technology complexity. Feedback will be consolidated for revisions before final issuance by the end of 2025.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-08-14•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino (BCSM) has issued an Invitation to Offer for leasing or purchasing an office building for the Financial Intelligence Agency. Eligible properties must be located in specified areas of San Marino and meet criteria outlined in the Economic Offer Form. A joint BCSM-AIF committee will evaluate bids based on technical and economic factors, with the option to lease, purchase, or use a hybrid formula.
Institutional developmentProcurement
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2025-08-14•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) discussed the new surety insurance model with a step-in clause at ABDIB’s Diálogos da Infraestrutura event. Superintendent Alessandro Octaviani emphasized the need for clear regulation to enhance contract predictability and project continuity in public works. The event also addressed surety insurance's role in Brazil’s public procurement, bid guarantee issuance, and risk monitoring.
Policy & regulationGuidance & interpretationOther
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2025-08-14•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) joined a São Paulo roundtable by the Getulio Vargas Foundation’s Insurance and Reinsurance Innovation Institute to discuss the Insurance Risk Letter (LRS), introduced by Law No. 14,430 of 2022. SUSEP’s Director, Carlos Queiroz, highlighted the LRS as a regulatory innovation enhancing Brazil’s insurance and reinsurance system. The event marked the first LRS issuance as a historic milestone, with discussions involving public and private sector experts on its features and market impact.
Policy & regulationCooperationOther
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2025-08-14•Iraq•Central Bank of Iraq
The Central Bank of Iraq met with the Islamic Investment and Export Credit Insurance Corporation to discuss enhanced cooperation and review a study on credit insurance for financing large strategic projects with the Iraqi government, highlighting increased investment opportunities and the Islamic Development Bank's expanded role in project financing.
Policy & regulationCooperationDomestic cooperation
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2025-08-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has mandated all BSP-supervised institutions to suspend in-app gambling access from their mobile payment apps and websites. This decision, approved by the Monetary Board, addresses rising online gambling transactions and public concerns about consumer financial health. The suspension will remain until a new policy setting standards for online gambling payment services is implemented.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-08-14•South Africa•South African Reserve Bank
The South African Reserve Bank released a working paper on climate-related transition risks in the financial sectors of Botswana, Namibia, Mozambique, and South Africa, focusing on banks' exposure to carbon-intensive industries. Transition shocks lead to current account deterioration in Namibia and South Africa, while trade volumes remain stable or grow in Botswana. It recommends integrating transition risk into supervisory frameworks, enhancing climate-related risk disclosure, stress testing, and aligning with international climate finance standards.
ResearchClimate risk and sustainable finance
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2025-08-14•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten published a study identifying ageing as a major threat to Curaçao’s healthcare sustainability. Healthcare costs could rise by over 140% by 2050 due to demographic changes and inflation. The study suggests expanding the contributor base, implementing a national prevention strategy, and broadening revenues through co-payments and health levies as solutions.
ResearchOther
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2025-08-14•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) has appointed 13 new auditors from the Federal Revenue Service to its Supervision Directorate. These auditors will conduct inspections, monitoring, and complaint handling for 270 closed pension entities with over 8.2 million participants. An induction and training program is planned for early September, with final assignments to be confirmed post-interviews with PREVIC leadership.
Institutional developmentWorkforce & recruitmentAuditing
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2025-08-14•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam and the Monetary Authority of Singapore signed a Memorandum of Understanding for a reciprocal cross-border collateral arrangement to enhance liquidity management and support financial stability. The roundtable also discussed economic trends, payments connectivity, and the 60th anniversary of the Currency Interchangeability Agreement in 2027.
Policy & regulationCooperationCross-border cooperation
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2025-08-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines held its 2025 Outstanding BSP Stakeholders Appreciation Ceremony in Naga City, recognizing nine institutional partners for their contributions to gold buying, financial inclusion, currency management, and digital payments. Awardees included Land Bank of the Philippines branches, CARD Banking Group, and several local government and cooperative entities. Similar ceremonies are planned for other regional offices.
Other
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2025-08-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has mandated all BSP-Supervised Institutions to remove links to gambling sites from their payment apps and websites within 48 hours. This directive affects e-wallet providers, banks, and other institutions, suspending functionalities that redirect users to gambling sites. The measure addresses rising online gambling transactions and their financial and social impacts, pending final policy development.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-08-14•United States•New York State Department of Financial Services
The New York State Department of Financial Services settled with Healthplex, Inc. for USD 2 million under its cybersecurity regulation, following a 2021 phishing incident. Healthplex must retain an independent auditor to assess its multi-factor authentication controls. The investigation revealed inadequate data retention policies and delayed incident reporting, compromising the nonpublic information of thousands of New Yorkers.
EnforcementInvestigations & enforcement actionsCyber resilience
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2025-08-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) held its 2025 Outstanding BSP Stakeholders Appreciation Ceremony in Naga City, honoring nine institutional partners for contributions to price stability, financial stability, and safe payments. Recognized entities included Land Bank of the Philippines branches, CARD Banking Group, and various provincial governments and cooperatives. The BSP plans similar events for its offices in North Luzon, Visayas, and Mindanao.
Other
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2025-08-14•Romania•Romanian Financial Supervisory Authority
In July 2025, the Romanian Financial Supervisory Authority sanctioned breaches in the non-banking financial market, including insurance distribution, capital markets, and AML/CFT controls. Key actions included fines and remedial plans for Infinity Capital Investments and Lion Capital, warnings for Depositarul Central, and penalties for AETA, Ropharma, and Societatea de Construcții Napoca for reporting failures. Duplex was fined and ordered to comply with ASF requests within three days.
EnforcementInvestigations & enforcement actionsSanctions list update
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2025-08-14•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of insurance intermediation through three websites offering services unlawfully and initiated their blocking by internet service providers in Italy. This is part of a broader enforcement effort, with 268 sites subject to cessation orders since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers, especially for short-term motor third-party liability policies, by consulting its online registers.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-08-14•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission seeks comments on a draft circular revising documentation and payment for exemptions from securities registration under Section 10 of the Securities Regulation Code. The draft requires a Notice of Exemption filing using SEC Form 10.1 without a fee but allows confirmation applications with a fee for Section 10.1 and 10.2 exemptions. It proposes repealing or modifying inconsistent provisions and includes a transitory clause for prior Section 10.1 transactions.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-14•Singapore•Monetary Authority of Singapore
The Brunei Darussalam Central Bank and the Monetary Authority of Singapore signed a Memorandum of Understanding for a reciprocal cross-border collateral arrangement, enhancing liquidity management and financial stability. The roundtable also addressed global economic trends, payments connectivity, and plans for the 60th anniversary of the Currency Interchangeability Agreement in 2027.
Policy & regulationCooperationCross-border cooperation
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2025-08-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has mandated the immediate suspension of investment advisory services by A3 Invest Assessoria de Investimentos Ltda. The CVM also issued a warning to the capital markets and the public regarding the firm's activities.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-08-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released the inaugural CVM Real Estate Sector Bulletin, a quarterly report detailing the real estate industry's presence in capital markets, focusing on Real Estate Investment Funds (FIIs) and Real Estate Receivables Certificates (CRIs). Compiled by the Superintendence of Securitization and Agribusiness, it uses data from CVM’s Open Data Portal and other internal sources, with June 2025 as the reference date.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-14•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission signed a memorandum of understanding with the Capital Markets Authority of Kuwait to establish a framework for cooperation and information sharing. This agreement follows negotiations during a Guernsey Finance visit to Kuwait and aims to support collaboration between Kuwaiti and Bailiwick businesses.
Policy & regulationCooperationCross-border cooperation
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2025-08-14•Canada•Ontario Securities Commission
The Canadian Securities Administrators (CSA) released its 2024-2025 Year in Review, highlighting progress on strategic goals in investor protection, enforcement, policy development, and market innovation. Key achievements include 1,011 investor alerts, with over 75% related to crypto assets, and 54 permanent market bans. The CSA also reported 57 publications on rule changes and hosted a webinar on data portability with 155 organizations.
OtherFintech and insurtechConsumer and investor protection
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2025-08-14•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has released proposed Supervisory Approach Guidance for overseeing Ontario’s target benefit framework for multi-employer pension plans. The guidance details FSRA’s review and approval process for converting defined benefits to target benefits, assessment of plan provisions, and ongoing supervision through regular reviews and risk assessments.
Policy & regulationGuidance & interpretation
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2025-08-14•Global•World Federation of Exchanges
The World Federation of Exchanges reported a decline in global primary market activity and exchange-traded derivatives volumes in H1 2025, with IPO counts dropping 20.9% to 570 deals and proceeds falling 15.7% to USD 66.41 billion. Asia-Pacific saw the largest decrease in IPO issuance, while the Americas and EMEA experienced increases in IPO numbers and capital raised; derivatives volumes fell 61.3% for options but rose 2.8% for futures, with notable declines in Asia-Pacific due to regulatory changes in India.
Data & statisticsFinancial and market indicators
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2025-08-14•Nigeria•Nigeria National Insurance Commission
Nigeria's National Insurance Commission has formed a 2025 Recapitalization Committee to oversee the recapitalization programme and ensure compliance with revised capital requirements under the Nigeria Insurance Industry Reform Act 2025. Chaired by Mrs. Oluwatoyin Charles, the committee will develop a roadmap, draft guidelines, and recommend minimum capital requirements while promoting transparency in capital inflows. Regular progress reports will be submitted to NAICOM management and stakeholders.
Institutional developmentMandate & organizational structureCapital adequacy
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2025-08-14•Nigeria•Nigeria National Insurance Commission
Nigeria’s National Insurance Commission (NAICOM) has issued guidelines for Insurtech businesses, establishing a regulatory framework for licensing, operations, and supervision. It introduces licensing routes for "Partnering Insurtech" and "Standalone Insurtech" firms, with exclusions for certain insurance products. Licensed Insurtechs must adhere to prudential and market conduct expectations, and disputes are subject to contractual arbitration before escalation to NAICOM.
Policy & regulationRules & requirementsFintech and insurtech
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2025-08-14•Russia•Central Bank of Russia
The Central Bank of Russia has implemented new rules permitting foreign investors in the Russian financial market to make cross-border transfers from In-type accounts, lifting previous repatriation restrictions. This change applies to funds managed by Russian brokers and trust managers, including transfers by foreign representatives of investors.
Policy & regulationRules & requirementsCross-border payments
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2025-08-14•Pakistan•State Bank of Pakistan
State Bank of Pakistan Governor Jameel Ahmad, at an Independence Day ceremony, emphasized the central bank's focus on maintaining price stability with inflation targeted at 5–7%. He highlighted economic improvements, including a reduction in inflation from 38% to 3.2% and foreign exchange reserves rising to USD 14.5 billion by end-FY25. The Governor also noted advancements in financial infrastructure, such as the spin-off of Raast and new digital payment initiatives to enhance financial inclusion.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-08-14•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has issued a Basel III-aligned solvency standards framework for non-banking financial activities, effective 1 January 2027, with a trial starting 1 January 2026. It updates capital, liquidity, and risk requirements, introducing new solvency standards for microfinance and amending requirements for other sectors. Key changes include expanded capital adequacy calculations, revised operational risk requirements, adjusted liquidity ratios, and updated debt write-off rules.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-08-14•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) released its 2024-2025 Year in Review, highlighting progress on strategic goals and initiatives to enhance Canada's capital markets. Key metrics include 1,011 investor alerts, with over 75% related to crypto assets, and enforcement actions resulting in permanent bans for 54 entities. The report also references the CSA's 2025-2028 Business Plan for future priorities.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission released a draft regulation for consultation, detailing principles and minimum requirements for insurance and reinsurance companies to manage outsourcing-related risks. The proposal enhances supervision and complements General Rule No. 454 on operational risk management and cybersecurity. Key elements include risk classification, service provider auditing, business continuity planning, and cybersecurity measures, ensuring firms maintain responsibility and compliance.
Policy & regulationRules & requirementsOutsourcing and third-party risk management
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2025-08-14•Chile•Chile Financial Market Commission
Chile’s Financial Market Commission (CMF) has ordered the liquidation of funds managed by Sartor Administradora General de Fondos S.A., appointing Toesca S.A. as liquidator. This decision follows reports of significant asset value deterioration, with estimates ranging from 47% to 85%. The liquidation process includes a 36-month workplan for asset distribution and debt recovery, with potential extensions subject to CMF approval.
SupervisionInterventionsRecovery and resolution
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2025-08-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) decreed that credit advisory services, including credit bureaus, can join the Consolidated Debt Registry (REDEC) as reporting entities. Eligibility requires compliance with the Fintech Act and registration as Financial Services Providers. These entities must adhere to data management and cybersecurity obligations and can access debtor data with consent, following a regulatory change linked to General Rule No. 540.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-08-14•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's report on SpareBank 1 Nord-Norge's internal ratings-based approach for credit risk capital requirements identifies deficiencies in probability of default and loss given default models. It suggests conservative adjustments, especially for the retail portfolio, and raises concerns over corporate risk weights, maturity parameters, and governance. The authority mandates clearer presentation of regulatory-approved values in credit decisions and plans further supervision.
SupervisionReviews, inspections & stress testsCapital adequacy
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2025-08-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission filed civil complaints against Ryan Wear and his entities for allegedly operating Ponzi-like schemes tied to water machine revenues, raising over USD 275 million from investors. Portfolio manager Jordan Chirico was charged with fraud and breaches of fiduciary duty for investing a private fund client in the scheme despite conflicts of interest. The SEC seeks injunctive relief, civil penalties, and disgorgement, while the U.S. Attorney’s Office announced criminal charges.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-08-14•Vietnam•State Bank of Vietnam
At the State Bank of Vietnam's first Party Congress for the 2025–2030 term, Deputy Prime Minister Ho Duc Phoc outlined a seven-point agenda focusing on monetary policy, legal reforms, and payments modernization. Achievements from 2020–2025 include strengthened governance, proactive monetary policy management, and enhanced banking supervision. Priorities for 2025–2030 emphasize inflation and exchange-rate stability, legal framework alignment, and secure cashless payments.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2025-08-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the Bank of Korea signed a new memorandum of understanding to enhance cooperation and technical assistance in central banking, replacing their 2024 agreement. The memorandum expands cooperation scope, including delegation exchanges and research coordination. Discussions also covered bilateral monetary cooperation and capacity-building support through the Bank of Korea Knowledge Partnership Programme.
Policy & regulationCooperationOther
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2025-08-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held its first delegates’ congress for the 2025–2030 term, reviewing the 2020–2025 period and announcing Party leadership appointments, including Governor Nguyen Thi Hong as Party Secretary. Key priorities included monetary policy for inflation control, interest rate and foreign-exchange market stabilization, and credit institution restructuring under Project 689. The congress highlighted legal and regulatory developments, digitalization progress, and changes in credit growth management.
Institutional developmentLeadership change & appointmentsMonetary policy decisions and developments
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2025-08-14•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva highlighted the CNV's regulatory framework for real estate investment at the 15th Argentina Real Estate Development and Investment Congress. The framework includes a tokenization regime, with the first part covering real-world assets and unlisted negotiable securities already in force, and a second stage forthcoming to include tokenized securities.
Policy & regulationRules & requirementsTokenization
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2025-08-14•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi and the Ministry of Finance held a conference on economic reforms to secure macroeconomic stability. Key measures include maintaining a restrictive monetary policy, transitioning to an inflation-targeting framework, and modernising monetary policy instruments. The Minister of Finance noted macroeconomic imbalances, with 3.9% GDP growth in 2024 and a fiscal deficit of 8.3% of GDP for FY 2023/2024.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-08-14•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) has initiated an investor awareness campaign on All India Radio to address securities market frauds perpetrated via social media platforms. The campaign, led by SEBI Chairman Tuhin Kanta Pandey, aims to educate investors on safeguarding against fraud and protecting their interests.
Financial literacy & educationFraud and scams
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2025-08-14•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI), in collaboration with the National Institute of Securities Markets, will launch the "SEBI Arth Yatra Contest 2025" to enhance investor awareness. The contest, featuring Short Video and Static Post categories, will focus on themes such as responsible investing and fraud awareness. Further details will be available on SEBI's investor website and promoted via #SEBIArthYatra2025.
Financial literacy & educationFinancial literacy and education
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2025-08-14•India•Securities & Exchange Board of India
The Securities and Exchange Board of India, with the Ministry of Panchayati Raj, has launched a nationwide training program for block-level Panchayat representatives to boost financial literacy and investor awareness in rural areas. The inaugural session in Pune, Maharashtra, covered financial planning, investment safeguards, and the securities market ecosystem. This initiative aims to empower local leaders to spread financial education across India.
Financial literacy & educationFinancial literacy and education
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2025-08-14•South Korea•Bank of Korea
The Bank of Korea announced the issuance of APEC 2025 Korea commemorative coins, with additional details provided in accompanying documents.
OtherCurrency and cash management
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2025-08-14•Moldova•National Bank of Moldova
The National Bank of Moldova reported Governor Anca Dragu's participation in the relaunch of the Republic of Moldova–Romania Bilateral Chamber of Commerce and Industry, emphasizing financial stability and cooperation as investment drivers. Dragu highlighted Moldova's economic progress, reforms, and integration with the European economic area, alongside modernizing financial infrastructure with P2G functionality for instant payments. The event also featured an economic study on Basarabian factories, a dialogue platform for domestic producers, and the chamber's new strategy and visual identity.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-08-14•Denmark•National Bank of Denmark
The National Bank of Denmark's Working Paper No. 211 explores why "marginal workers" account for most unemployment, citing lower productivity and non-pecuniary opportunity costs. Using Danish administrative data, it distinguishes "stable" from "marginal" workers, finding marginal workers less productive with higher unemployment rates. The paper suggests equalizing productivity could reduce unemployment among marginal workers, impacting unemployment insurance design.
Research
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2025-08-14•United States•U.S. Department of the Treasury
The U.S. Treasury’s OFAC re-designated cryptocurrency exchange Garantex Europe OU and designated its successor, Grinex, along with three executives and six companies for sanctions evasion and cybercrime support. OFAC cited over USD 100 million in illicit transactions since 2019 and noted Grinex's creation following U.S. Secret Service actions against Garantex. The designations block property within U.S. jurisdiction and prohibit U.S.-nexus transactions with the designated parties without authorization.
EnforcementSanctions & designationsSanctions list update
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2025-08-14•Moldova•National Bank of Moldova
The National Bank of Moldova's Executive Committee has adopted a regulation for operations on the Republic of Moldova's interbank foreign exchange market. This regulation was formalized by Executive Committee Decision No. 187 and published in Monitorul Oficial.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-08-14•Europe•Single Resolution Board
The Single Resolution Board's vice-president, Miguel Carcaño, advocates for further European banking integration where financially sensible, a common deposit guarantee fund, and simplified banking regulation while ensuring stability. His views are framed within the context of the EU's incomplete single banking market, drawing on his experience from Spain's bank resolution authority and the Banco Popular liquidation.
Policy & regulationReform agendas & prioritiesOther
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2025-08-14•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas published its August 2025 schedule for Bahamas Registered Stock secondary market prices, detailing ISIN-level bid and ask prices and yields. The pricing sheet includes fixed-rate and floating-rate issues, with maturities from September 2025 to October 2054 and yields between 3.14% and 6.59%. Floating-rate securities feature six-month coupon resets at the prevailing market rate.
Data & statisticsFinancial and market indicators
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2025-08-13•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay proposed a draft bill to the Ministry of Economy and Finance to amend its Organic Charter, expanding its regulatory remit to include entities soliciting public investment with promised financial returns. The bill aims to enhance the enforcement powers of the Superintendency of Financial Services, allowing for information requisition, inspections, and immediate cessation of irregular activities. These reforms are part of broader efforts to bolster investor protection and capital market development.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-13•Chile•Ministry of Finance (Chile)
Chile’s Ministry of Finance announced Senate approval in principle of a bill to regulate online betting platforms, advancing it to the second constitutional stage. The bill aims to formalize platforms as registered companies under the renamed Superintendence of Casinos, Betting and Games of Chance, with enhanced oversight and a framework to combat illegal gambling. It includes a 20% specific tax, a 2% levy for sports funding, and measures for player protection and game integrity.
Policy & regulationRules & requirements
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2025-08-13•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic Pensions Superintendency (SIPEN), in collaboration with Universidad Nacional Pedro Henríquez Ureña and AFP Reservas, has launched the Regulation, Investments, Workers and Savings (RITA) diploma programme. This initiative aims to train AFP Reservas professionals on the Dominican pension system's regulatory framework, investment management, and operational processes. The programme includes five modules on system benefits, supervision, and financial planning.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-08-13•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority signed a memorandum of understanding with the Financial Services Authority of Guernsey to enhance cross-border supervisory cooperation, including information exchange and joint inspections. The MoU outlines arrangements for document sharing, confidentiality, and mutual assistance in investigations. This agreement follows a January meeting aimed at establishing a regulatory framework for bilateral cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-08-13•Global•Bank for International Settlements
The Bank for International Settlements proposed an alternative AML compliance approach for cryptoassets on permissionless blockchains, using public transaction histories to generate AML scores for bitcoin or stablecoin balances, especially at fiat conversion points. The Bulletin notes the limited effectiveness of intermediary-based AML frameworks and highlights that stablecoins account for 63% of illicit transactions in 2024.
Policy & regulationInternational standards & recommendationsAML and CFT
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2025-08-13•Australia•Australian Prudential Regulation Authority
APRA, via Deputy Chair Margaret Cole, detailed expectations for superannuation's retirement phase, focusing on the Retirement Income Covenant and transparency. Retirement assets in APRA-regulated funds may reach AUD 3 trillion in 20 years, requiring better trustee support for member decisions. A joint APRA and ASIC survey shows 90% of trustees rate their progress as "good" or "very good." APRA is working with Treasury on a retirement reporting framework, with indicators for consultation and annual data publication from 2028. APRA also released retirement-phase product performance data in June, covering 600 investment options.
Policy & regulationImplementation, projects & pilots
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2025-08-13•Australia•Australian Prudential Regulation Authority
APRA Deputy Chair Margaret Cole emphasized at the Conexus Retirement Conference the focus on trustees' implementation of the Retirement Income Covenant and APRA's increased emphasis on the retirement phase of superannuation. APRA, with ASIC, is developing a retirement reporting framework, with annual data collection starting in 2028, and has published initial retirement-phase product data covering 600 multi-sector investment options.
Policy & regulationImplementation, projects & pilots
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2025-08-13•Ghana•Ministry of Finance (Ghana)
Ghana's Ministry of Finance has appointed a new seven-member Governing Board for Ghana Amalgamated Trust PLC, chaired by Dr. Kwabena Donkor, with Abraham Tetteh as managing director. The Deputy Minister for Finance emphasized the government's strategy to invest in saving banks rather than spending over GHS 30 billion to collapse them. The board aims to ensure a financially sustainable banking sector, focusing on profitability and dividends.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-13•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority emphasized the significance of agricultural insurance in a recently published article.
Financial literacy & educationOther
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2025-08-13•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market reported stable capital markets in its July 2025 digest, with government bonds driving trading activity. Organised-market turnover increased to UAH 76.3 billion, while unorganised-market volumes remained unchanged year on year. The Commission highlighted a 29.5% rise in commodity-exchange trading in H1 2025 and its efforts to enhance market transparency and investor confidence.
Data & statistics
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2025-08-13•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved procedures for temporary administration of non-state pension funds and advanced rulemaking items, including amendments and invalidations of certain legal acts. It registered various securities issues and prospectuses, granted a capital markets licence to AMC GLOBAL VIEW CAPITAL LLC, and addressed compliance issues with AMC DIAMANT INVEST MANAGEMENT.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-13•Ecuador•Superintendencia de Bancos de Ecuador
The Superintendence of Banks of Ecuador and the United Nations Office on Drugs and Crime held technical roundtables to update anti-money laundering and counter-terrorist financing rules, aligning with Ecuador's new Organic Law and international standards. Part of the DISRUPT project, the sessions focused on regulatory instruments and benchmarking against practices from Peru, Colombia, and Uruguay. A regional session is planned to enhance cross-border cooperation against financial crime.
Policy & regulationRules & requirementsAML and CFT
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2025-08-13•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) issued cybersecurity guidelines for digital financial asset trading providers, emphasizing secure-by-design and resilience-by-architecture principles. The guidelines advocate a zero-trust approach, layered authentication, and alignment with frameworks like ISO and NIST, stressing data protection and incident response planning. This initiative aligns with Law No. 4/2023, mandating OJK's oversight of financial sector technology innovation from January 2025.
Policy & regulationGuidance & interpretationCyber resilience
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2025-08-13•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has finalized amendments to the public offering regime, effective 6 August 2025, impacting equity securities, debt instruments, and REIT schemes. Key changes allow banks and development finance institutions to serve as Consultants to the Issue for equity offerings and replace the single book runner model with an "Eligible Participant" for IPO price discovery, enhancing transparency and investor participation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-13•China•Central Bank of the Republic of China
The People's Bank of China reported that total social financing increased by CNY 23.99 trillion in the first seven months of 2025, CNY 5.12 trillion more than the same period in 2024. RMB loans to the real economy rose by CNY 12.31 trillion, while foreign-currency loans fell by CNY 72.5 billion. The central bank highlighted the expanded financial statistics perimeter since January 2023 to include certain non-deposit-taking banking institutions.
Data & statisticsMonetary data
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2025-08-13•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported preliminary end-July 2025 data showing total social financing to the real economy at CNY 431.26 trillion, a 9% increase year on year. RMB loans comprised 61.4% of the total, while government bonds accounted for 20.9%. The report also noted the inclusion of consumer finance companies, wealth management subsidiaries, and financial asset investment companies in the statistical coverage from January 2023.
Data & statisticsMonetary data
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2025-08-13•Australia•Australian Securities & Investments Commission
ASIC has extended its relief from certain retail client obligations under the Corporations Act 2001 for insurers and brokers, where incidental retail cover is included within a wholesale insurance contract, for five more years. This aims to reduce compliance costs. The relief is conditional, ensuring the retail cover is genuinely incidental. ASIC found the instrument effective and will continue to monitor its appropriateness.
Policy & regulationRules & requirementsRegulatory burden
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2025-08-13•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) is reviewing Regulatory Guide 97 (RG 97) fee and cost disclosure requirements, particularly stamp duty payments in disclosure statements. Concerns include impacts on superannuation fund performance tests and property investment. ASIC aims to improve outcomes without compromising disclosure, collaborating with industry and Treasury, with findings due by 30 November.
Policy & regulationGuidance & interpretationDisclosures
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2025-08-13•Australia•Australian Securities & Investments Commission
At the Conexus Retirement Leaders Summit, ASIC Commissioner Simone Constant noted uneven implementation of the Retirement Income Covenant among superannuation trustees, identifying "leaders and laggards." A joint ASIC and APRA review found 20% of trustees unable to track their assistance's success. Research showed low retirement readiness among Australians aged 50–66, with only 33% confident of a comfortable retirement. Full findings are expected in September 2025, with ongoing follow-up on trustees' obligations.
SupervisionRisk monitoring & watch pointsOther