The U.S. Department of the Treasury is cautioning financial institutions about growing sanctions exposure linked to China’s independent “teapot” oil refineries, underscoring their continued role in importing and refining Iranian crude.
Switzerland’s financial watchdog has thrown its support behind a fresh push to strengthen the country’s banking rules, while making clear that lawmakers should go further to close gaps exposed by past crises.
The Joint Committee of the European Supervisory Authorities has laid out a year shaped by digital transformation, rising cyber threats, and growing scrutiny of sustainable finance, according to its newly published 2025 annual report. That shift is laid out in the latest annual report from the Joint Committee of the European Supervisory Authorities, which coordinates the work of the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority.
The European Banking Authority has raised concerns over proposed changes by the European Commission to key technical standards governing how banks calculate operational risk, cautioning that parts of the revisions could undermine consistency and supervisory effectiveness across the EU.
Hong Kong’s Securities and Futures Commission has reached a landmark agreement with PricewaterhouseCoopers Hong Kong that will see the audit firm set aside approximately $128 million (HK$1 billion) to compensate certain shareholders of China Evergrande Group, marking a rare instance of auditors contributing directly to investor restitution.
Norway’s financial regulator, Finanstilsynet, has set out a broad and pointed supervisory agenda for 2026, signaling a year defined by heightened attention to resilience, financial crime, and the stability of an increasingly complex financial system.
The European Commission is refining one of the most technically demanding pieces of post-crisis banking reform, launching a public consultation on how European banks should calculate market risk under the Fundamental Review of the Trading Book, or FRTB.