Serbia, Namibia, Thailand, Saudi Arabia, Nigeria, Turkey and more issue sanctions, prudential and market rules

The National Securities Commission incorporates a new Chapter XIX into Title XVIII of the RULES (R.E. 2013 and amendments) to extend, on an exceptional and one-time basis, through November 13, 2026 inclusive, the deadlines for submitting annual financial statements as of August 31, 2026, and intermediate financial statements or accounting certifications as of September 30, 2026. The measure is in response to the holidays established by Decree of Necessity and Urgency (DNU) No. 1103/2026 in November 2026, which affect entities, auditors, and professionals based in the Autonomous City of Buenos Aires and the Province of Buenos Aires. The extension also applies to the complementary documentation and information that must be submitted jointly with said financial statements.

The National Securities Commission replaces Title XV of the NORMS (2013 Rev. and mod.) regarding the Financial Information Highway (FIH), reorganizing and simplifying the provisions on electronic information submission by regulated entities. The rule repeals obsolete provisions, reduces burdens, updates names and forms, makes the acquisition of operator keys and signer credentials more flexible, and details the mandatory forms for each category of regulated subject (issuers, agents, markets, clearing houses, trustees, funds, VASPs, AML/CFT/CPF obliged subjects, among others).

Bangladesh Bank consolidates existing foreign exchange management and operations regulations into a single circular covering exchange rate reporting, transactions with Authorized Dealers, ACU settlement, clearing arrangements, nostro accounts, forward dealings, commodity price risk hedging, and the prohibition on virtual assets. It repeals the instructions in the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol.-1 and subsequent circulars, except monthly reporting instructions in GFET Vol.-2, and remains valid for one year from issue. It applies to all Authorized Dealers in foreign exchange in Bangladesh.

The Central Bank of Bolivia brings forward to November 5, 2026, the return of Phase I of the CPVIS III, CPRO-ME, and CPVIS II-ME Funds for Multiple Banks, Productive Development Banks, and SME Banks, and allows SACs, DFIs, and H FIs to optionally join through a written request. Likewise, it establishes the procedure for the return and cancellation of liquidity loans, an alternative cancellation modality through the liquidation of guarantees, and the withdrawal of monetary material in foreign currency of up to 30% of the credited resources.

The Commission for the Financial Market establishes a channel through CMF Supervisa for entities legally obliged to remit unclaimed funds of deceased holders to the Fire Department of Chile to submit lists of holders' National Identity Numbers for death-record queries. The Commission forwards the lists to the Civil Registry Service, which reports which persons are deceased and their dates of death, and the results are returned to the entity through the same channel. The norm aims to facilitate identification of deceased holders so that unclaimed shares, deposits, fund units, benefits, dividends and other monies can be delivered to the Fire Department of Chile.

The IFSCA has reviewed the Special Category Client (SCC) framework that allowed certain eligible participants to trade directly on the India International Bullion Exchange (IIBX) without a Bullion Trading Member. Henceforth, no participant, including nominated banks, may trade on IIBX unless it is a client of a Bullion Trading Member, although existing SCCs may continue direct trading until 13 November 2026. The circular takes effect immediately.

IFSCA requires Designated Officers (and CISOs of Market Infrastructure Institutions) of Regulated Entities in IFSCs to mandatorily obtain both the Basic and Advanced NISM-IFSCA cyber security certifications, and requires Compliance Officers and IT/information security staff or those with privileged access to critical systems to obtain the Basic certification. Certifications must be obtained within six months of the relevant examination going live or of appointment, whichever is later, and must remain valid at all times. The circular aims to establish a common cyber security knowledge benchmark across the IFSC ecosystem.

The International Financial Services Centres Authority specifies financial soundness criteria, set out in Annexure-I, that existing Authorised Payment System Operators in the IFSC and applicants seeking to commence a payment system in the IFSC must meet. Existing PSOs must comply within six months and thereafter file an annual statutory auditor certificate, while applicants must submit such a certificate with their application. The circular also defines 'Net-worth' for these purposes and takes effect immediately.

The Insolvency and Bankruptcy Board of India has revised Form CA, the claim submission form for financial creditors in a class under regulation 8A of the CIRP Regulations, splitting it into Part I for financial creditors other than real estate allottees and Part II for real estate allottees. The revision follows observations by the Committee on Framing Guidelines for Insolvency Proceedings in the Real Estate Sector that an allottee-specific form would improve homebuyer participation, facilitate claim verification, and help collect project-level information for the Information Memorandum and resolution plans. Financial creditors in a class, including real estate allottees, must use the revised form for claims filed on or after the circular's date.

The Insolvency and Bankruptcy Board of India requires insolvency professionals handling corporate debtors with real estate projects to ensure compliance with the RERA Act during CIRP, to consult RERA authorities on resolution plan feasibility, and to prominently disclose the CIRP at project and office sites. It also directs them to obtain project information from RERA web portals to prepare more complete information memoranda and verify claims. The circular aims to enhance transparency, stakeholder awareness, and value in the resolution of real estate projects.

Bank Indonesia amends its implementing regulation on minimum reserve requirements (GWM) in rupiah and foreign currency, lowering the average rupiah GWM ratios for conventional commercial banks (BUK) to 8% in the first stage and 7% in the second stage, and for sharia commercial banks and sharia business units (BUS/UUS) to 6.5% and 5.5% respectively, while keeping the daily requirement at 0%. It also adjusts the portion of reserve balances eligible for GWM remuneration (1.5% per annum) and for sharia 'athaya incentives (1.5% per annum), reflecting a reduction in the macroprudential liquidity incentive (KLM). The changes phase in from 1 November 2026 and 1 December 2026.

The Central Bank of Iraq grants I-Cash (Gate of Instant Cash Company for Electronic Payment Services, Financial Services and Software Services) a final electronic payment license No. 22 to operate locally as issuer, processor, acquirer and mobile wallet, in line with the National Electronic Payment Scheme. The letter sets conditions including a 15% capital guarantee letter, preliminary approval of the authorized manager, RTGS payment of licensing fees, appointment of an accredited auditor, and certified premises documentation, with service launch required within 180 days.

The Board of the National Bank of the Kyrgyz Republic set the National Bank's policy (discount) rate at 12.00 percent per annum, effective 27 October 2026. The decision was adopted under articles 5, 13, 63 and 64 of the constitutional Law on the National Bank and requires the Monetary Policy Department to publish the rate on the official website within one business day.

The Bank of Namibia issues temporary prudential and regulatory relief measures for banking institutions and their agricultural clients affected by the Foot-and-Mouth Disease outbreak and El Niño-induced climatic conditions. The Determination authorises loan repayment moratoria of up to 24 months on performing loans, distressed loan restructuring, recovery support credit facilities, a temporary increase in the single borrower limit from 25% to 30% of capital funds for agricultural exposures, and special credit bureau reporting treatment, together with disclosure, monthly reporting and phase-out requirements. It matters because it alters asset classification, provisioning and exposure rules for the duration of the relief period to preserve financial stability and support the agricultural sector.

The National Pension Commission requires all licensed Pension Fund Administrators to obtain the informed consent of retirees who elect Programmed Withdrawal for possible enrolment into the PenCare Initiative at the point of retirement benefit processing, using a prescribed standard PenCare Consent Form. The circular aims to standardise the industry-wide consent process, enable timely identification and enrolment of eligible retirees, and improve the completeness of enrolment records, while ensuring consent is voluntary and personal data is protected.

The Securities and Exchange Commission of Nigeria directs all Capital Market Regulated Entities to freeze the funds, assets and economic resources of DCB Finance Limited (KPe 040), which has been added to the UN Security Council consolidated sanctions list and the Nigeria Sanctions Committee sanctions list. Entities must report frozen assets and name matches, file suspicious transaction reports with the NFIU, cease dealings with the entity, and continue monitoring, with non-compliance attracting regulatory sanctions.

The Securities and Exchange Commission of Nigeria notifies all capital market regulated entities that the Nigeria Sanctions Committee has designated three individuals and one entity as terrorist financiers under the Terrorism Prevention and Prohibition Act, 2022, adding them to the Nigeria Sanctions List. Regulated entities must immediately freeze the funds and assets of the designated persons and entity, report to the NSC Secretariat and the NFIU, and cease all dealings with them. Non-compliance may attract fines, suspension of operations, or revocation of registration.

The Securities and Exchange Commission of Nigeria notifies all capital market regulated entities that the Nigeria Sanctions Committee, following the United Nations Security Council, has designated two individuals (Paek Chang-Ho and Ra Ky'ong-Su) on its sanctions list. CMREs are directed to implement targeted financial sanctions measures with immediate effect, including mandatory subscription to the Nigeria Sanctions (NigSac) Alerts system and prompt reporting of suspicious transactions to the NFIU.

The Capital Markets Authority of Rwanda issues a Code of Conduct setting ethical and professional standards for Designated Market Makers for Government Securities (DMMGS) operating in the secondary market. It covers market-making obligations such as continuous two-sided quotes, spreads and trading hours, dealing-integrity rules including KYC, confidentiality, conflicts of interest and market abuse prohibitions, governance and risk management requirements, reporting and supervision, and enforcement and disciplinary measures. The Code aims to promote integrity, transparency, investor protection and liquidity in the Government securities secondary market.

These Guidelines establish the framework for the designation, operation, supervision and performance evaluation of Designated Market Makers for Government Securities (DMMGS) in Rwanda, issued by the Capital Markets Authority pursuant to the Law Regulating Capital Market Business in Rwanda. They set eligibility criteria, licensing and designation procedures involving the Rwanda Stock Exchange and the National Bank of Rwanda, and define the rights, incentives, obligations and enforcement measures applicable to DMMGS. The framework aims to enhance liquidity, price discovery and resilience in the secondary market for Government securities.

The Capital Market Authority announced that its Board issued a resolution approving the merger of UBS Saudi Arabia Company, as the merged company, into Credit Suisse Saudi Arabia Company, as the merging company. The approval was issued under the Capital Market Law and its Implementing Regulations and concerns the consolidation of the two licensed capital market firms in Saudi Arabia.

The Administration for the Prevention of Money Laundering informs obliged entities that the UN Security Council Committee established under Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da'esh), Al-Qaida and associated individuals, groups, undertakings and entities has adopted amendments to the sanctions lists relating to ISIL (Da'esh) and Al-Qaida. The updated ISIL/Al-Qaida sanctions list and the UN Security Council Consolidated List are available online, and obliged entities are called upon to review them regularly in order to comply promptly with their legal obligations.

The Bank of Thailand announces its bond issuance plan for November 2026, setting out the auction schedule, issue sizes, tenors, coupon structures and payment and maturity dates for Bank of Thailand bonds, including fixed-rate and Compounded THOR-linked floating-rate series. The notice applies to participants in the Bank of Thailand's bond auctions and is issued under the Bank of Thailand's regulation on the issuance of Bank of Thailand bonds.

The Capital Markets Board of Turkey's bulletin announces the temporary suspension of the capital markets activities of Tera Portföy Yönetimi AŞ and Pusula Portföy Yönetimi AŞ under Article 97(1) of Capital Markets Law No. 6362, and appoints Türkiye İş Bankası AŞ and T.C. Ziraat Bankası AŞ respectively to liquidate the investment funds, real estate investment funds and venture capital investment funds founded by each company, excluding those already ordered into liquidation by the Board's Decision Body on 17/09/2026. It also notes where non-listed companies' special situation disclosures can be found.

The Capital Markets Board of Turkey's bulletin 2026/74 announces two principle decisions of the Board's Decision-Making Body. The first amends sections (4.3.) and (12.5.) of the Guide on Investment Funds. The second raises the financial thresholds for professional clients (financial assets from 10 million TL to 50 million TL and transaction volume from 5 million TL to 25 million TL), updates the corresponding qualified investor thresholds, and removes the exemptions previously granted to real estate and venture capital investment funds, requiring existing professional/qualified investors to re-document their status.

The Capital Markets Board has determined the procedures and principles regarding the liquidation process of the investment funds founded by Tera, Pusula, and Atlas Portföy Yönetimi AŞ, whose liquidation was decided by Board resolutions dated September 17, 2026, within the scope of Law No. 7596, as well as the interim and final payments to be made to fund share holders. The announcement regulates the banks responsible for liquidation, the payment ranking, interim payment ceilings, and the rules regarding non-payment to individuals identified with irregularities in the funds under liquidation scope.

The Capital Markets Board of Turkey's bulletin announces criminal complaints filed against numerous individuals for transactions in the shares of Pasifik Eurasia Lojistik Dış Ticaret AŞ (PASEU), Selçuk Ecza Deposu Ticaret ve Sanayi AŞ (SELEC) and Manas Enerji Yönetimi Sanayi ve Ticaret AŞ (MANAS) under Article 107/1 of Capital Markets Law No. 6362, together with 2-year trading bans, revocation of all licenses of the individuals concerned, and blocking of websites operating without authorization. It also announces the revocation of all activity permits and the authorization certificate of Tera Yatırım Menkul Değerler AŞ, its gradual liquidation and compensation of its investors, and approval of a capital increase by Piramit Menkul Kıymetler AŞ.

The Capital Markets Board bulletin announces, under Board Decision 76/1918 of 27/10/2026, the extension of a previously announced measure allowing a relaxed application of the equity capital ratio for margin (credit-financed) capital market transactions. The measure, originally introduced by Board Decision 65/1779 of 03.10.2026 and announced in bulletin 2026/68, will continue to apply until the end of the session on 13.11.2026. It affects intermediaries and investors engaged in margin trading on Borsa İstanbul markets.

The National Bank of Ukraine amends paragraph 224 of the Rules for Banks' Operations under Martial Law (approved by NBU Board Resolution No. 23 of 25 February 2022). The amendments add budget institutions to the list of counterparties and revise how banks calculate credit risk on collateral in the form of property rights under business contracts with state and local government entities, applying liquidity coefficients of 0.75 and 0.60. The changes affect Ukrainian banks' capital and credit risk treatment of such collateral during martial law.

The National Bank of Ukraine amends its wartime bank liquidity regulation (Resolution No. 22 of 24 February 2022) to restrict access of certain banks to NBU deposit certificate operations. Banks flagged under the resolution's criteria, and banks whose significant shareholders are subject to a forced share-divestment requirement, are barred from placing deposit certificates or buying them from banks on the interbank market unless the Supervisory Committee approves their admission. The changes take effect on 1 December 2026.