Credit Agricole sees MPS bid for Banco BPM as unappealing, paper says
France's Credit Agricole, the largest single investor in Italian lender Banco BPM, opposes rival bank Banca Monte dei Paschi's offer for BPM, daily La Stampa reported on Tuesday.
France's Credit Agricole, the largest single investor in Italian lender Banco BPM, opposes rival bank Banca Monte dei Paschi's offer for BPM, daily La Stampa reported on Tuesday.
Berlin is seeking guarantees from Italy’s UniCredit as its leverage over Commerzbank wanes and the lender moves closer to taking control of the German bank.
Citigroup has named veteran banker Sophia Wang a managing director and head of China financial-institutional sales and senior relationship management. Based in Shanghai, Wang will oversee institutional coverage for rates, spread products, foreign exchange and commodities, as the bank seeks to expand its mainland capital-markets presence amid geopolitical friction.

Michael Dell’s family office and a company dubbed “the holding company of the next century” have outbid private equity giants to take an insurance broker private.
Bank of America CEO Brian Moynihan said trading revenue will be “relatively flat” from the third quarter a year earlier. The unexpected outlook breaks with Wall Street’s surge in the first half and sent bank shares lower.
China’s securities regulator and industry body are moving to close compensation loopholes for brokerage executives and staff, while extending anti-corruption oversight to overseas operations for the first time. The Securities Association of China has circulated a revised draft of its “clean practices” rules for feedback by September 29.

The Clarity Act could provide banks, brokers and asset managers with clearer rules, but financial firms are already deeply involved in digital assets. If the legislation fails, adoption may slow, yet Wall Street’s crypto expansion is unlikely to end.


SEC Chair Paul Atkins supports the Clarity Act but says the agency will continue advancing crypto regulation even without the legislation. He identified crypto issuance, transfer-agent modernization and custody as the foundation of that regulatory effort.
Private equity group CVC has joined JC Flowers in a potential bid for FirstRand’s UK banking arm, Aldermore, according to two people familiar with the matter.
Bank of America expects investment banking fees to fall by at least 10% in the third quarter, while sales and trading revenue is projected to remain flat, CEO Brian Moynihan said Monday.
The United States imposed new sanctions on Russia’s VTB Bank on Sept. 14, accusing it of helping Iran evade sanctions through financial-sector operations, partnerships with sanctioned Iranian institutions and transfers of frozen Iranian assets. The measures block VTB-linked assets in the U.S. and expose violators to civil or criminal penalties.

The Trump administration targeted one of Russia’s largest banks on Monday over its alleged support for Iran, marking the latest step in its pressure campaign against Tehran.
The U.S. Treasury sanctioned Russia’s VTB Bank, accusing it of opening offices in Iran, processing transactions with sanctioned Iranian banks, and helping move billions in frozen Iranian assets. Former Treasury official Miad Maleki said the measure also aims to pressure Chinese banks to cut ties with VTB over fears of secondary sanctions.
The United States imposed Iran-related sanctions on Russia’s VTB Bank on Monday, accusing it of helping evade sanctions on Iran. The Treasury Department said the move comes as Washington seeks to increase economic pressure on Tehran.
The US Treasury Department has added Russia’s VTB Bank, already subject to Washington’s sanctions, to its Iran-related restrictions list. The United States first imposed sectoral sanctions on VTB in 2014.
India has notified amendments to its Payment and Settlement Act that prohibit banks from charging fees on Unified Payments Interface transactions of up to 2,000 Indian rupees ($20.93).
The White House’s top crypto adviser says he feels “very good” about the Senate’s initial vote on cryptocurrency legislation scheduled for Tuesday.


President Donald Trump's digital assets adviser spoke at a Washington event one day after new compromise language was released for the Clarity Act, saying Trump had surrendered what were described as historic ethics powers in the deal.
Donald Trump is pressing a crypto bill as the industry’s conflict with banks intensifies. At a White House gathering last month, he praised Coinbase CEO Brian Armstrong as “one of the greats” and called Gemini Space Station co-founders Cameron and Tyler Winklevoss “tremendous investors, brilliant people.”

Opposition to the CLARITY Act continued to grow ahead of Tuesday’s Senate cloture vote, despite Republicans releasing a version they called final that incorporated 126 Democratic requests. Banking groups, Democrats, state attorneys general and developer advocates still objected to provisions on ethics, stablecoin rewards, state enforcement and deposit flight, putting the 60-vote threshold at risk.

Eight banking groups said Monday that they want stricter limits on stablecoin rewards, keeping the dispute between banks and the crypto industry alive in Congress as the Senate prepares to vote on the Clarity Act.
Ukraine will soon receive $841 million in budget support from the World Bank, backed by Canadian guarantees, Prime Minister Serhii Koretskyi said. The funding comes through the PEACE project and will reimburse pension payments from the state budget as Ukraine faces its most difficult budget situation since Russia’s full-scale war began in 2022.

JPMorgan plans to introduce its long-awaited frontier-market local-currency government bond index by the end of September. The new benchmark will cover nearly $330 billion in debt across some of the world’s fastest-growing economies.
The article considers how lenders should price financing for hyperscalers, taking equity investors’ collective histrionics into account in a credit context.
Financial ratings giant S&P Global, BNP Paribas and other traditional banks and exchange operators have joined Kaiko’s Series B, bringing the round to $110 million. The funding will support the company’s expansion into continuous market data services.


S&P Global led a strategic investment in crypto data firm Kaiko, extending the company’s Series B round to $110 million. BNP Paribas, Nasdaq Ventures, RBC, Coinbase Ventures, DRW Venture Capital and several other investors joined the extension.
Hedge fund manager Crispin Odey has lost his appeal against an industry ban for obstructing an internal disciplinary investigation into allegations of sexual harassment. His £1.8 million fine was reduced, however.
Crispin Odey has lost his appeal against an industry ban, dealing another setback to the hedge fund founder’s efforts to repair his reputation after allegations of sexual harassment and assault.
The Financial Conduct Authority is working with the Treasury on a tailored regulatory framework that could exempt digital gold from traditional fund laws, in an effort to protect London’s market position.

UBS forecasts China’s inbound tourism revenue will reach US$470 billion by 2040, more than doubling its current economic share and helping offset weak domestic demand. The Swiss bank estimates travel from outside mainland China will grow at an 8.9% compound annual rate from 2025 to reach 1.5% of GDP.

China’s new bank loans returned to positive growth in August after a record contraction in July, but fell well short of analysts’ forecasts. Continued weak demand from households and companies weighed on credit growth.
A South Korean petition calling for a delay to the planned digital asset gains tax has reached the 50,000-signature threshold, prompting investors to seek a fourth postponement while regulators maintain their position.

Goldman Sachs and JPMorgan now anticipate a Federal Reserve rate increase this week, after several hotter-than-expected inflation reports undermined hopes that price pressures would keep easing without more policy tightening.
The 8th Asian Captive Conference in Kuala Lumpur brought together more than 300 risk and industry professionals to examine how captive insurance can help businesses refine risk-management strategies in an uncertain, multifaceted operating environment. The event was co-organised by Labuan IBFC Incorporated.
The UK Financial Conduct Authority is considering a bespoke regime for tokenised gold as it seeks to unlock more of London’s bullion reserves for use as collateral in transactions.
Dell CEO Michael Dell’s DFO Management is leading a planned $7.7 billion transaction to take insurance brokerage The Baldwin Insurance Group private, the Financial Times reported on Sunday.
Michael Dell’s family office, DFO Management, is in advanced talks with Baldwin Group on a deal valued at $4.1bn to take the insurance broker private. The historically fragmented industry is undergoing a wave of consolidation.
Coinbase is partnering with payments platform Moov to bring stablecoin services into the existing payments systems of community banks and credit unions. The institutions would remain the customer-facing relationship, while Coinbase supplies custody and transaction tools. Fees, revenue sharing, data access, compliance duties and operational risk remain undisclosed.

Chinese President Xi Jinping addressed Session II of the 18th BRICS Summit in New Delhi on Sunday, proposing five initiatives for “greater BRICS” cooperation covering AI, trade and investment facilitation, the digital industry, smart manufacturing and talent development. He said the grouping should draw on its links with emerging markets and the Global South, uphold openness and win-win cooperation, keep industrial and supply chains stable and unobstructed, and promote integrated markets.


Xi Jinping made his first visit to India in seven years for the BRICS summit and held a roughly 40-minute meeting with Narendra Modi. Analysts describe the shift in ties as a tactical easing driven partly by shared pressure, not a strategic reset, with border disputes unresolved. The summit’s New Delhi Declaration urged maximum restraint over the Iran war without naming the US, Israel or Iran.
Kremlin spokesman Dmitry Peskov said the BRICS summit’s final declaration incorporated provisions important to Russia, including joint settlement centers, a joint investment platform and a common platform for settlements in national currencies.

China, Russia and India called for inclusive global growth at the 18th BRICS Summit in New Delhi, where leaders also gathered for a family photograph.
China plans to host the BRICS Forum on Trade in Services in 2027 during its chairship of the group, President Xi Jinping said. He also proposed a BRICS special economic zone partnership to coordinate policies and promote open development and economic and trade cooperation.

Chinese President Xi Jinping told the second session of the 18th BRICS Summit in New Delhi that BRICS countries should rally the Global South, defend multilateralism, international law and the United Nations, reform global financial institutions, and deepen cooperation on development, security, climate governance and artificial intelligence.
Chinese President Xi Jinping unveiled initiatives on Sunday spanning areas including AI and trade to deepen cooperation among the “Greater BRICS” emerging economies. Beijing is seeking to turn the grouping into a practical platform for development across the Global South.
Chinese President Xi Jinping said at a meeting of BRICS leaders and partner countries that China will keep opening up, promoting high-quality Belt and Road cooperation and sharing development opportunities with countries around the world.

Chinese President Xi Jinping proposed five initiatives to deepen “greater BRICS” cooperation in AI, trade and investment facilitation, digital industries, smart manufacturing and talent development at the group’s summit in New Delhi. He also urged Global South countries to strengthen multilateralism, reform international institutions and advance global AI governance.

At the 18th BRICS Summit in New Delhi, Chinese President Xi Jinping urged members to lead innovation-driven development, uphold peace and stability, promote mutual learning among civilizations and improve global governance. Global South observers said China has played an important role in BRICS and expressed confidence that it will guide expanded cooperation toward deeper, higher-quality engagement. They also expect China’s 2027 chairmanship to consolidate the group’s enlarged framework.
BRICS is using mechanisms including the New Development Bank to channel financing into infrastructure, clean energy and digital transformation across the Global South. The group has expanded its partnerships, while intra-BRICS merchandise trade rose from $84.2 billion in 2003 to $1.17 trillion in 2024. Xi Jinping urged members to promote a fairer international order.


Chinese President Xi Jinping addressed the first session of the 18th BRICS Summit in New Delhi on September 12. He called on BRICS to stand on the right side of history and help make the international order fairer, while proposing a BRICS initiative on AI-empowered new industrialization and deeper cooperation in AI, research, applications and supply chains.

Chinese President Xi Jinping spoke at the first session of the 18th BRICS Summit in New Delhi on Saturday. He urged BRICS countries to stand on the right side of history, advance innovation-led development, protect peace and stability, promote mutual learning among civilizations and improve global governance toward a fairer international order and a shared future for humanity.
The Delhi Declaration adopted at the 18th BRICS summit calls for adequate Palestinian representation in all relevant international organizations and backs Palestine’s full UN membership. BRICS members reaffirmed that a just and lasting Israeli-Palestinian settlement can only come through peaceful means and recognition of Palestinians’ legitimate rights, including self-determination and return.
The New Delhi Declaration says BRICS members are gravely concerned about conditions in Gaza and the West Bank. They condemned politicizing or militarizing humanitarian assistance, starvation as a method of warfare, attacks on civilians and civilian infrastructure, and obstruction of aid, while reaffirming support for UNRWA and calling for respect for Jerusalem’s religious sites and access rights.
Chinese President Xi Jinping said in New Delhi that BRICS has become the world’s most influential cooperation platform for emerging markets and developing countries. Addressing the first session of the 18th BRICS Summit, Xi urged members to deepen cooperation in areas including artificial intelligence, uphold peace and stability, and help make the international order more just and equitable.

Chinese President Xi Jinping said at the 18th BRICS Summit in New Delhi that BRICS countries should stand firmly on the right side of history. He urged them to lead in innovative development, peace and stability, civilizational exchange and global governance, while steering the international order toward greater justice and equity and building a community with a shared future for humanity.
BRICS members unanimously approved a joint declaration on Saturday voicing deep concern about the war in the Middle East. They called for maximum restraint and backed a multilateral approach that respects national perspectives.
The Delhi Declaration adopted at the 18th BRICS summit says member states are deeply concerned about the continued escalation of tensions in the Middle East. Participants called for protecting civilians and civilian infrastructure, urged dialogue and diplomacy toward lasting regional peace, and stressed maintaining the smooth flow of global trade, supply chains and energy under international law.
BRICS leaders said in the New Delhi Declaration adopted at the group’s 18th summit that they will continue developing cross-border payment mechanisms and promoting the use of national currencies. They called for further discussions aimed at practical payment solutions that are fast, low-cost, accessible, efficient, transparent and secure, while respecting national priorities and recognizing that no single approach fits all countries.
The New Delhi Declaration adopted at the 18th BRICS summit reaffirms the members’ commitment to reforming global governance through a fairer and more effective multilateral system. The states highlighted the UN’s central role and pledged to uphold multilateralism, multipolarity and international law, including the UN Charter.
The leaders of BRICS member states and governments adopted the New Delhi Declaration of the group’s 18th summit, Indian Prime Minister Narendra Modi announced. He said no member had raised objections and that the 2026 declaration was unanimously approved.
Chinese President Xi Jinping urged BRICS to act as a peacemaker in the Middle East conflict during an address to the bloc’s summit in New Delhi on Saturday.

BRICS leaders are meeting in New Delhi for a summit centred on trade, investment and global conflicts. As wars and tensions with the United States challenge the bloc, it is seeking a larger role in shaping the global agenda for emerging and developing countries.

Speaking at the 18th BRICS Summit in New Delhi, Xi Jinping said the group has become the world’s most influential platform for cooperation among emerging markets and developing countries. He urged members to deepen AI cooperation, uphold peace and stability, promote civilizational exchanges and help guide the international order toward greater justice and equity.

Donald Trump’s efforts to weaken BRICS through tariffs and economic pressure may instead encourage countries to reduce their dependence on US-centred markets, finance and the dollar. BRICS is not a unified anti-US alliance, but its diverse members are cautiously expanding local-currency trade and payment links to limit their exposure to American leverage.

Leaders of the 11-member BRICS bloc are meeting in New Delhi on Saturday to expand economic cooperation and seek a larger role for emerging powers in global affairs. Wars in Ukraine and the Middle East are testing the group’s ability to stay united.
The BRICS cooperation mechanism, formally launched in 2006, opened a new chapter in cooperation among major emerging economies. As the world undergoes profound changes, BRICS is amplifying Global South countries’ calls for better governance, greater security and the right to development.
Russian President Vladimir Putin told the BRICS summit that the IMF, World Bank and WTO were created under entirely different political and economic conditions, making reform of global economic governance institutions long overdue. He said the institutions are struggling to adapt as business activity increasingly shifts toward emerging markets.
Banks are developing tokenized deposits to make cross-border business payments faster and keep customers’ funds within their systems. DBS and Citi’s New York office reportedly completed a dollar payment between Singapore and the United States in minutes on Sept. 5 using SWIFT’s digital ledger. The approach could reduce costly prefunding, while helping banks protect currency-conversion and lending fees.

India’s markets regulator proposed on Saturday reviewing how settlement prices for index and stock derivatives are set on expiry days.
Government-backed payment networks such as UPI and Pix are exploring links with central banks overseas.
Nasdaq’s planned $100 million investment in Payward, Kraken’s parent, includes surveillance across crypto, equities, tokenized equities, futures and options. But the technology cannot determine how products should be classified under federal law. Citadel Securities has urged regulators to keep products linked to public companies within the SEC’s perimeter, highlighting how classification still controls listing routes, market access and investor protections.

President Vladimir Putin said Russia supports bringing more participants into the New Development Bank of BRICS. Meeting bank President Dilma Rousseff on the sidelines of the BRICS summit, he also cited Moscow’s proposal for investment and digital platforms to expand the bank’s capabilities.
Russian President Vladimir Putin said the BRICS New Development Bank is acting energetically and making a substantial contribution to the organization’s growth. He made the remarks during a meeting in New Delhi with bank President Dilma Rousseff.

Leaders of the 11 BRICS members are meeting in New Delhi as US tariffs and the seventh-month US-Israel war with Iran disrupt trade and energy supplies. The summit will test the bloc’s cohesion over Tehran’s call to condemn Washington and explore whether BRICS can expand the Global South’s influence in the world economy.
Canada’s banking regulator finalized a narrow 2027 rule change allowing qualifying Group 2a crypto positions on regulated exchanges to receive full capital recognition across venues when maturities match and hedging conditions are met. The measure does not broadly relax digital-asset risk treatment, and the 5% aggregate exposure cap remains.

Circle has proposed acquiring cross-border payments operator Tazapay for $400 million in Circle Class A stock. Tazapay’s banking and fintech connections, local payout rails and currency-conversion capabilities would help connect USDC and Circle’s payments network to recipients who need usable local money.

The Russian central bank will inject an additional 165 billion roubles ($1.96 billion) into the capital of a state-owned reinsurance company in September, Governor Elvira Nabiullina said, citing heightened risks of attacks and sabotage.
Standard Chartered has begun covering Sky, describing it as “DeFi’s federal bank” and forecasting that the SKY token will reach $0.325 by 2028.

A UK-backed coalition focused on improving debt sustainability in developing countries said it would promote broader use of its newly designed debt pause clauses and its playbook for restructuring private loans, one year after the British government launched the initiative.
Kenya is expected to receive about $400 million from the World Bank within six weeks to cushion its economy against fallout from the Middle East conflict, regional health threats and severe climate disruptions. The funds are intended to address high energy costs, El Niño-related damage and possible pressure on the health sector from the regional Ebola crisis.

BRICS cooperation is presented as creating practical opportunities for the Global South through renewable energy, cross-border digital platforms, a proposed grain exchange and a stronger role for developing countries in AI governance. The 18th BRICS Summit will be held in New Delhi on September 12-13, with Chinese President Xi Jinping attending at Indian Prime Minister Narendra Modi’s invitation.


The New Development Bank plans to raise the share of projects financed in local currencies from 30% to more than 45% by 2031. Established by Brazil, Russia, India, China and South Africa, the bank has approved 139 projects worth about $42.9 billion and is expanding into green infrastructure, digitalization and AI to reduce developing countries’ reliance on the US dollar.

A CGTN survey of 12,250 people in 41 countries, conducted as the 18th BRICS Summit begins, found that more than six in 10 respondents believe the bloc has become more influential in international affairs. Sixty-three percent approved of its contribution to global governance, while 61.6% said expanded BRICS cooperation could make the international order fairer. Support for local-currency settlement and a more diversified monetary system reached 65.6%.
The Russian Direct Investment Fund, BRICS Pay JSC and BRICS Pay India agreed to develop the BRICS Pay project in India and cooperate on cross-border payments within the BRICS framework. The partners will explore links with India’s payment infrastructure, prepare pilot projects and consider using national currencies to support trade and investment flows.
Hong Kong’s wealth management landscape has moved beyond single-product investing, with more families adopting integrated planning to strengthen financial resilience, maintain lifestyle continuity and support long-term stewardship across generations. Hang Seng Bank is responding with five wealth strategies, including optimising its service network and focusing more on family wealth planning.

Fintech companies that drove the adoption of digital payments in India are now turning their attention to providing credit to underserved people.

Bankers, including Jamie Dimon, are pressing the British government ahead of its Autumn Budget. The newly installed leadership is expected to set out Britain’s fiscal plans in the budget, prompting concern among the banking community.

Hong Kong is attracting professionals back as a booming IPO market helps the city regain ground as a global financial hub, reversing the talent exodus that followed the political and social unrest of 2019 and some of the world’s strictest COVID restrictions.
A worldwide bond selloff sent the U.S. 10-year Treasury yield close to the closely watched 5% threshold on Friday. Investors were rattled by inflation fears after oil prices surged well above $100 a barrel and by growing expectations of a near-term U.S. rate hike.
A look ahead at European and global markets as lenders demand tangible financial backing while a severe bond selloff spreads.
Turmoil at Chinese hotpot operator Haidilao International may warn investors about risks from Beijing’s new tax regime for wealthy individuals’ overseas assets. A planned sale of 259 million shares, or 4.65 per cent, by co-founder Shu Ping, wife of chairman Zhang Yong, sent the stock down 10 per cent in Hong Kong this week.

Berlin will press Commerzbank to preserve its German identity through a domestic stock-market listing and to protect jobs, two people familiar with the matter said, as Italy’s UniCredit prepares to take over the bank.
The Netherlands and France have shifted gold out of US vaults amid concerns about access during a crisis and confidence in US reliability. The Dutch central bank cited geopolitical unrest and crisis preparedness, while France said its move was not politically motivated. Central banks are increasingly weighing where reserves are stored as well as what they hold.

One of the last remaining links to Goldman Sachs Group Inc.’s celebrated partner club is leaving the firm, shrinking the circle once again.
Grab Holdings, Southeast Asia’s largest ride-hailing and food-delivery company, is negotiating to acquire a majority stake in Singapore-based buy-now-pay-later platform Atome Financial, people familiar with the matter said.
Brazil is a global leader in renewable electricity, but demand continues to rise. In the northeastern state of Paraíba, one of the country’s newest large-scale wind projects was built with financing from the New Development Bank, also known as the BRICS Bank.

Mortgage rates increased for a third consecutive week, lifting the average rate on a long-term U.S. home loan to its highest point in more than 14 months.
HSBC Holdings said Pam Kaur unexpectedly decided to leave her chief financial officer role. The bank is seeking a replacement just two years after her appointment.
Goldman Sachs has appointed Farshid Asl and Matt Weir as co-heads of its Investment Strategy Group, replacing Sharmin Mossavar-Rahmani, according to an internal memo seen by Reuters on Thursday.
Brazilian digital bank Nubank said in a securities filing that it will begin offering financial products in the United States on Thursday through banking partners, including a high-yield savings account, credit cards and remittances.
Visa is working with onchain credit protocol Credit Coop to use revolving stablecoin facilities to cover the recurring gap between card-program settlement obligations and later customer payments. Smart contracts manage draws and repayments, while Visa’s authorized settlement files support underwriting and facility sizing. Visa says the model has financed more than $2.5 billion in cumulative settlement volume since 2023 with no defaults.

A proposed overhaul of SEC transfer-agent rules could remove duplicate off-chain shareholder records, cutting reconciliation costs and reducing legal uncertainty for tokenized securities.

The European Securities and Markets Authority said event contracts could be covered by existing EU bans on binary options, crypto-asset rules such as MiCA or national gambling laws, warning that authorization gaps may exist for Polymarket and Kalshi in the bloc.

DigitalBridge-backed Vantage Data Centers is seeking $2bn in loans from Pimco and PGIM, turning to new investors to fund AI infrastructure as Wall Street banks limit their exposure.
London-based challenger bank Monument Bank has delayed the launch of retail tokenized deposits, citing regulatory issues in the UK. It hired a Canadian custodian to meet Financial Conduct Authority requirements and now expects to roll out the product by November.

MoneyGram is rolling out a Visa card that allows customers to hold dollars and spend from a balance backed by stablecoins, bringing digital dollars into routine purchases.


MoneyGram has launched its first Visa card backed by stablecoins. Developed with Rain, the card is initially available in Colombia.
Prediction market company Kalshi has launched perpetual contracts for gold and silver after receiving approval from the Commodity Futures Trading Commission. The move is the latest step in diversifying the assets available for users to trade.

Citadel Securities is urging the Securities and Exchange Commission to oversee equity-linked event contracts, challenging the Commodity Futures Trading Commission’s self-certification process.

The SEC approved a Nasdaq Texas rule allowing qualifying commodity-linked trusts to place up to 15% of their exposure in specified digital commodities or securities that fail existing eligibility tests, while permitting active management. At least 85% must remain in cash, commodities or other qualifying assets, and sponsors must check compliance daily. The change streamlines listings but does not approve any particular fund.

India is expected to advocate a digital-currency payment system at the BRICS summit, according to sources. BRICS countries have previously explored alternatives to dollar-based payments.

Hong Kong’s Securities and Futures Commission has ordered the stock exchange to halt trading in US biotech firm Cloudbreak Pharma while it investigates the company’s US$78 million IPO last year. The regulator said it has serious concerns that the offering may have been rigged to create an artificial appearance of demand for the shares.

India plans to advocate linking central bank digital currencies across BRICS countries for cross-border payments at a summit later this week, two people familiar with the discussions said. They cautioned that political and technical obstacles could constrain progress.
A State Council Information Office briefing outlined measures under the 15th Five-Year Plan to strengthen financial oversight, prevent risks and support high-quality development. Authorities plan to address risks at small and medium-sized institutions and accelerate a new round of capital-market reform and opening-up, aiming to establish a stronger development pattern by 2030.
UBS plans to shut its fund-distribution business on one of its mainland China wealth-management platforms. UBS Fund Distribution (Shenzhen) will stop fund sales, including subscriptions and switches, at the end of September, while the bank says it remains committed to China and will continue investing.

A Toronto Metropolitan University study says 98 per cent of financial-sector workers are highly exposed to AI technologies. Yet at least one Canadian bank expects its human headcount to grow.
UBS CEO Sergio Ermotti warns that financial markets have become complacent even as geopolitical and economic risks continue to mount.

A corner of the ETF market facing regulatory scrutiny is pushing speculation into even shorter time frames, including bets placed by the hour.
U.S. federal housing regulator Bill Pulte said on Wednesday that credit scoring company FICO was improperly keeping consumer costs high. His agency is studying changes to how credit reports are used to reduce borrowing costs.
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