As part of our ongoing commitment to keeping our clients and stakeholders informed, j. awan & partners has compiled the latest regulatory developments shaping financial markets across the GCC, APAC and key global jurisdictions for August 2025. This edition highlights critical updates impacting Financial Institutions, Fintechs, VASPs and other Regulated Entities, including new consultations, enforcement actions, rule changes, and supervisory priorities. We encourage market participants to review these developments closely to stay aligned with evolving regulatory expectations and global best practices.

Gulf Cooperation Council Regulatory Developments

United Arab Emirates

Dubai Financial Services Authority (DFSA)

• DFSA publishes FAQ on the annual AML Return and reminds Firms of 30 September deadline

  • The DFSA released a FAQ to assist Relevant Persons with completing their annual AML Return and reminded DFSA firms of the submission deadline for the 2025 AML Returns. Firms must submit the return via the DFSA ePortal by 30 September 2025.

Source: DFSA

Abu Dhabi Global Market (ADGM) | Registration Authority (RA)

• ADGM enacts new Substantial Public Interest Rules under Data Protection Regulations 2021

  • ADGM’s Registration Authority amended its Data Protection Regulations to introduce “Substantial Public Interest Rules,” clarifying when special categories of personal data—such as those processed in insurance or education—may be handled without consent under public interest grounds. The amendment enhances transparency and provides greater legal clarity for data controllers and processors within ADGM’s framework.

Source: ADGM

Abu Dhabi Global Market (ADGM) | Financial Services Regulatory Authority (FSRA)

• FSRA of ADGM publishes proposed regulatory framework for regulated activities involving fiat-referenced tokens

  • ADGM’s FSRA released Consultation Paper No. 9 of 2025, proposing rules for fiat-referenced token issuance, holding, and authorisations. The proposals expand on ADGM’s 2024 framework and aim to establish a clearer prudential and conduct regime for token-related regulated activities.

Source: ADGM

Abu Dhabi Global Market (ADGM) | ADGM Academy

• ADGM Academy and PGIM host an event to inaugurate the RealAssetX Abu Dhabi Innovation Centre

  • ADGM Academy and PGIM launched the RealAssetX Innovation Centre in Abu Dhabi as a hub for AI, sustainability, and real asset innovation. The initiative aims to accelerate collaboration between financial institutions, academia, and technology partners to advance research and solutions in sustainable finance and digital transformation.

Source: ADGM

Asia-Pacific Regulatory Develpments

Australia

Australian Securities and Investments Commission (ASIC)

• ASIC signs MoU with India’s IFSCA to strengthen supervisory cooperation

  • ASIC and the International Financial Services Centres Authority (IFSCA) of India signed a Memorandum of Understanding to enhance cooperation and support closer engagement between the two regulators. The agreement aims to facilitate supervisory collaboration, information exchange, and mutual assistance in overseeing cross-border activities between Australia and India. While no immediate rule changes were introduced, the MoU is expected to improve efficiency and communication for entities operating across both jurisdictions.

Source: ASIC

Australian Securities and Investments Commission (ASIC)

• Stablecoin Distribution Exemption — Instrument 2025/631

  • ASIC issued Class Order Instrument 2025/631, granting class relief for intermediaries engaging in the secondary distribution of a specified Australian-issued stablecoin. The exemption provides limited relief under defined conditions, supporting market innovation while maintaining appropriate safeguards for financial product distribution. Intermediaries and Australian Financial Services (AFS) licensees are advised to review eligibility and compliance requirements before relying on the exemption.

Source: ASIC

Singapore

Monetary Authority of Singapore (MAS)

• MAS introduces initiatives to promote responsible online financial content and issues advisory letters to content creators

  • MAS announced new initiatives to promote responsible sharing of financial content online, including the release of Guidelines on Standards of Conduct for Digital Advertising Activities and a guide for content creators. The Guidelines, effective from 25 March 2026, require financial institutions and their partners to implement safeguards such as clear disclosures, policy controls, and robust monitoring of digital advertising practices. MAS and the Advertising Standards Authority of Singapore also published a companion guide outlining licensing requirements, disclosure obligations, and compensation transparency for content creators. Advisory letters were issued to five content creators suspected of offering unlicensed financial advice, warning that further breaches could result in enforcement action.

Source: MAS

European Union Regulatory Developments

European Securities and Markets Authority (ESMA)

• Updated 2025 IFRS taxonomy introduced into the European Single Electronic Format (ESEF)

  • ESMA published amendments to the Regulatory Technical Standards (RTS) on the European Single Electronic Format (ESEF) to incorporate the 2025 update of the IFRS taxonomy, including new elements supporting IFRS 18 and IFRS 19. The updated taxonomy will become mandatory for annual financial reports for fiscal years beginning on or after 1 January 2026, though voluntary early adoption for 2025 is permitted if the RTS is adopted in time. Issuers, software vendors, and preparers of financial statements are encouraged to begin testing and system updates early to ensure smooth transition and compliance.

Source: ESMA

United Kingdom Regulatory Developments

Financial Conduct Authority (FCA)

• FCA shares proposals to promote good business practices amongst crypto firms

  • The FCA issued a consultation outlining proposed minimum standards for crypto firms operating in or targeting the UK. The proposals align with existing requirements for traditional financial institutions, including operational resilience, governance, and systems and controls to mitigate financial crime. The consultation also explores how the Consumer Duty framework should apply to crypto firms and addresses complaint-handling processes, including potential referrals to the Financial Ombudsman Service. Firms are encouraged to assess compliance readiness ahead of the final rules expected in 2026.

Source: FCA

For further insights and tailored regulatory guidance, reach out to j. awan & partners.

Email: info@jawanpartners.com