September 2025 was a busy month for financial regulators in countries like the United States, United Kingdom, and Australia, where key agencies revealed significant policy statements and strategic agendas. Each month our financial marketing writers round up the top regulatory announcements and compliance changes to ensure our clients stay informed. Here’s our financial regulations roundup for October 2025.
SEC Unveiled its Deregulatory Pivot
The Securities and Exchange Commission (SEC), under Paul Atkins, unveiled the Spring Regulatory Flex Agenda that signalled a sharp pivot away from the ESG-heavy agenda of the previous administration. Specifically, the agency withdrew several proposals like the Human Capital Management disclosure rules and the corporate board diversity disclosure.
The agency introduced new proposals on shareholder modernisation, which are meant to ease burdens on investors and a proposal to simplify disclosures on executive compensation. The SEC, under the Trump administration, has focused on reducing the regulatory burden that has always existed in the country.
SEC Publishes Generic Listing Standards for Crypto ETFs
Meanwhile, the SEC is working on several cryptocurrency ETFs, which may be approved in October this year. In a statement in September, the agency published the generic listings standards for exchanges to consider when listing crypto ETFs. The agency noted that some cryptocurrency ETFs that meet several criteria will list faster without the need to go through a lengthy review process.
To benefit from the new, speedier process, an ETF will need to meet at least three principal criteria. For example, it qualifies if the coin underpinning the proposed ETF already trades on a regulated market or has futures contracts regulated by the U.S. Commodity Futures Trading Commission that have traded for at least six months. Alternatively, the existence of another ETF tied to that coin that has at least 40% of its assets invested in the cryptocurrency itself rather than options or swaps would open the door to approval.
FCA Proposes Exempting Crypto Firms From Integrity and Other Rules
Meanwhile, in the UK, the Financial Conduct Authority (FCA) proposed that cryptocurrency firms will be exempt from rules that ensure financial services companies act with integrity and in the interest of consumers. The move comes after Britain signalled in April it would cooperate with the United States, which has embraced the crypto industry and vowed to roll back regulatory curbs under President Donald Trump.
The new approach will ensure that companies in the crypto space conduct their business with skill, care, and diligence, paying close attention to customers’ interests.
ASIC Calls Out the Private Credit Industry
In Australia, the main financial regulator ASIC called out the fast-growing private credit industry for several issues in the sector. In its report, the agency noted that the industry had poor disclosures, weak valuations, opaque remuneration, and substantial governance failures. Also, ASIC noted that the industry had major related-party transactions and unequal investor treatment.
Most importantly, the agency noted that without reform, it will need to intervene more forcefully in the industry, which has accumulated over $200 billion in assets in the past few months. Joe Lingo, ASIC’s Chair, said:
Enhanced standards are needed to lift practices across the sector. They will help promote confidence, improve market integrity and empower investors to make informed decisions. When an industry agrees on clear standards, it shows a strong commitment to doing things right.
ASIC Seeks to Promote Stablecoin Growth
In a statement, ASIC noted that it was supportive of the stablecoin industry, which has become a major one globally, with all stablecoins being valued at over $300 billion. The agency granted relief for intermediaries engaging the secondary distribution of a coin issued by an Australian financial services licensed issuer.
It also said that it would consider extending the relief to intermediaries distributing these stablecoins. It hopes to continue supporting the industry while ensuring that the customers are protected well. The statement added:
The first-of-its-kind relief exempts intermediaries from the requirement to hold separate AFS, Australian market, or clearing and settlement facility licences when providing services related to stablecoins issued by an AFS licensee.
ESMA Urged to Oversee Major Crypto Firms Under MiCA
Meanwhile, in Europe, countries like France, Italy, and Austria pushed the European Securities Markets Authority (ESMA) to take direct supervisory authority over major cryptocurrency firms under the new Markets in Crypto-Assets (MiCA) regime.
Some local countries said that they may block licenses from other states if the regulatory approach remained highly fragmented. However, some countries like Malta with weaker regulations have opposed these proposals, noting that they will add bureaucracy and stifle competition in the region.
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